Guanacaste, the jungle-covered coastline of northwest Costa Rica, is attracting some heavy hitters. AOL founder Steve Case is developing a resort in the province, and there are projects in the works anchored by Ritz Carlton and JW Marriott hotels.

Last year Mel Gibson reportedly paid $25.8 million (€17.6 million) for a 163-hectare (402 acre) ranch on the coast, adding a little extra celebrity luster.

The latest residential project to come online in Guanacaste is the Hyatt Regency Azulera Resort & Spa, an eco-resort with Michael Graves-designed condo units and a Greg Norman golf course. The first phase of 64 units went on sale last month, priced between $780,000 and $3.9 million (€537,400 to €2.7 million).

Another 800 to 1000 residential units are planned for the property, according to Anil Kothari, founder of Global Financial Group, the New Jersey-based developer. Condos ranging from 960- to 5,000-square-feet (89 to 465 square meters), will include private terraces with plunge pools and ocean views.

Overlooking Brasilito Bay on the Pacific Coast, the $300 million project will eventually cover 557 acres (225 hectares), including a spa and retail space, in addition to the golf course.

Posted by Kevin Brass in General, News

Everywhere you turn, you bump into someone who has either been to Costa Rica or at the least, knows someone who has bought property there.

All of the developments and real estate salesmen throughout Costa Rica will tell you that “CNBC says that Costa Rica is the hottest real estate market in the world today.”

Is land in Costa Rica a good thing, and particularly, “is property in the literally 100s of developments throughout Costa Rica as good as everyone says?”

This is a short primer in what to watch out for when shopping for land or property in one of the many developments being sold throughout the country. There are a huge number of developments, some good, some great, and, unfortunately, a great many that are not so great. In fact, the representations made by some of them border on out and out falsehoods.

So how do you tell the good from the bad?

A potential buyer, should INSIST on answers to these questions:

1. If you are buying a predevelopment or preconstruction property, what guarantee do you have that the infrastructure will be completed? Do you really want just a pile of dirt with a view?

2. Are you certain that all of the amenities you WANT and NEED are available? Don’t assume anything in Costa Rica. This ain’t Kansas, you know. The Internet and the satellite TVs and even good medical care or a good mechanic are not things that exist here with any assurance. Make a checklist for yourself.

3. Are you positive that your lot can, in fact, come with water, electric and telephone? There are more than a handful of communities in Costa Rica where water shortages are preventing building permits from being issued. Talk to the municipality and a good attorney and insist upon proof of these simple questions. Utilities and roads in Costa Rica are not items to be taken for granted.

And a salesman’s assurance of a new highway or road to the property is definitely not a guarantee.

4. If your salesman tells you that you can subdivide the property and resell it for a quick profit, don’t just take his word for it. Tell him you want proof. Many municipalities have minimum size lots and sometimes the promise of quick profits can cloud sound judgment. Oh, how are you going to arrange for utilities to your new subdivided lots? Do you think realistically that you can arrange these items with a phone call? Think again.

5. If you are one of the many potential buyers who is thinking about buying a property sight unseen, THINK TWICE. You wouldn’t do it in your own hometown. Why would you do it in a foreign country?

6. Don’t be dazzled by a salesman’s promise of quick profits, a new marina or a hospital or highway “right around the corner.” Time moves slowly in Costa Rica, and installing the infrastructure you are counting on could realistically (and probably will) drag on for years.

7. If you have responded to an e-mail, TV ad, or Google ad, you will get a telephone call extolling the virtues and profitability of the property in question. Ask the salesman where he is calling from. The odds are very high that he is calling from Florida and that he has not even seen the property. Go ahead, ask him. And ask yourself what kind of credibility this person could possibly have if he has not even seen the property or doesn’t even live in Costa Rica.

8. Ask the person selling the property for his cédula or basically his license to sell here in Costa Rica. This is important.

You may also be asking yourself “if there is something wrong with this property I should have already seen something negative about it, right?”

Actually, this is one side of Costa Rica that almost no foreigner knows about. Any negatives or “badmouthing“ of specific properties can result in lawsuits. Slander and libel in Costa Rica carry huge penalties.

Costa Rica IS a fantastic place to live or to visit. And it can be a great place to own property. But it can also be a nightmare for many who don’t do their homework. Make sure you do yours.

Story By A.M. Costa Rica

All-Inclusive Hilton Papagayo Resort Costa Rica Opens Today With Multi-Million Dollar Makeover & Special Introductory Rate of $499

All-Inclusive Hilton Papagayo Resort Costa Rica Opens Today With Multi-Million Dollar Makeover & Special Introductory Rate of $499 BEVERLY HILLS, Calif.CA-HILTON-HOTELS-CORP

Aktuelle Nachrichten - veröffentlicht durch ad-hoc-news.de: Hilton Hotels Corporation celebrates the New Year with today?s opening of the Hilton Papagayo Resort Costa Rica ? the first Hilton in Costa Rica. To mark the occasion, the resort offers guests an amazing introductory rate of $499(a) per night all-inclusive based on double occupancy. This latest addition marks the company?s third full-service hotel opening in Costa Rica this month and reinforces the commitment to grow its family of brands throughout Central America.

Formerly the Premier Fiesta Resort & Spa, the 202-room all-inclusive resort has undergone a multi-million dollar renovation, covering almost every aspect of the property. Influenced by its natural surroundings, the resort welcomes guests with a brand new open air lobby, as well as upgrades to guest rooms, gardens and public areas, meeting facilities, restaurants, swimming pool area, and a brand new world-class spa.

?We are delighted to welcome the Hilton Papagayo Resort to our Costa Rica portfolio. The opening of this third full-service hotel is an important stepping stone in our expansion efforts throughout Central America,? commented Danny Hughes, area vice president, Caribbean and Central America, for Hilton Hotels Corporation. ?Now, we can offer both business and leisure guests an array of full-service hotel options across the country, in San Jose with the Doubletree Cariari by Hilton, in the central region with the all-inclusive Doubletree Resort by Hilton Puntarenas, and in the gulf of Papagayo with the luxurious Hilton Papagayo Resort.?

Located just 20 minutes from Liberia International Airport, the Hilton Papagayo Resort is nestled between the mountains on a secluded and government protected natural volcanic sand beach on the Bay of Papagayo in Guanacaste. Featuring 202 renovated rooms, including 71 bungalows, the resort delights guests with luxury accommodations in the midst of pristine natural surroundings. All guest rooms have been completely remodeled and outfitted with the new Hilton Serenity Collection? mattress and linens. Four brand new junior suites have been added to the resort, each with its own private plunge pool and amazing ocean views.

?Costa Rica is an exceptional destination and the perfect spot for Hilton with its wide array of offerings for the leisure and business traveler,? said Jeff Diskin, senior vice president ? brand management, Hilton Hotels & Resorts. ?The Hilton Papagayo Resort is a great addition to our Latin American Portfolio and is representative of our brand?s expected growth in 2008.?

For recreation and relaxation, the resort boasts two outdoor swimming pools with a new pool area and deck, non-motorized water sports, tennis courts, on-site tour desk to arrange eco-adventures, local arts and crafts store, and nightly entertainment. A new Kidz Paradise club features activities for children of all ages, including games, nature walks, and the club?s very own volcano. The pinnacle of the resort?s relaxation options is a brand new world-class spa with 13 treatment rooms featuring spectacular garden and ocean views, separate swimming pool, a fitness center with Precor® equipment, and an array of creative and unique treatments including everything from volcanic stones to local fruits.

The resort has spectacular options for destination weddings and honeymoons, offering the happy couple everything from sunset weddings on the beach to a romantic honeymoon hide-away. With over 75 weddings per year, the Hilton Papagayo Resort has the perfect combination to make any wedding an occasion to remember.

For the business-minded, Hilton Papagayo Resort offers over 1,300 sq. ft. of meetings space, including three new meeting rooms and an auditorium for up to 300 people. An outdoor terrace is the perfect place for coffee breaks surrounded by tropical gardens and ocean views. A business center equipped with computers, high speed Internet access, printers, and more is also available.

The resort features all-inclusive dining with three restaurants and two bars. The live show-case cooking buffet-style La Cosecha Restaurant is open for breakfast, lunch, and dinner, serving international and local cuisine, with a specialty theme each night. Grill del Fuego provides Italian cuisine in a quaint atmosphere, while El Dorado specializes in creative Costa Rican cuisine in a formal setting. Plus, Hilton Papagayo Resort will delight guests with the Hilton Breakfast Program, featuring a color-coded system that allows guests more choice and control over the first meal of the day. The color labels denote whether the menu item is low-cholesterol, low-fat, high-fiber, low-calorie, high-energy or an indulgence.

The Hilton Papagayo Resort is a proud member of the Certification for Sustainable Tourism Program, where it has been recognized with a three-leaf Rating from the Costa Rican Tourism Institute. The scenic volcanic sand beach at the Hilton Papagayo Resort has also been designated a government protected beach where guests can enjoy untouched natural surroundings.

Hilton Papagayo Resort welcomes guests with a special introductory rate of $499(a) per night all-inclusive based on double occupancy(a) .

For information or reservations at the Hilton Papagayo Resort visit www.hilton.com.

(a) Special introductory rate is valid January 15 through March 31, 2008, based on availability and subject to change without notice. Rate is based on double occupancy, and does not include gratuities or other incidental charges. Services of alcoholic beverages is subject to local laws.

About The Hilton Family of Hotels In Central America

Hilton Hotels Corporation currently owns, manages, or franchises seven hotels in Central America, including Hilton full-service hotels in San Pedro Sula, Honduras; Managua, Nicaragua; San Salvador, El Salvador; a Hampton Inn & Suites hotel in San Jose, Costa Rica; the recently opened Doubletree Resort by Hilton Puntarenas and Doubletree Cariari by Hilton San Jose; and the newest addition, Hilton Papagayo Resort. An additional property is scheduled to join the Central American portfolio in late 2008 - a Hilton Garden Inn hotel in Liberia, Costa Rica.

About Hilton Hotels Corporation

Hilton Hotels Corporation is the leading global hospitality company, with more than 2,900 hotels and 480,000 rooms in 76 countries and territories, including 100,000 team members worldwide. The company owns, manages or franchises a hotel portfolio of some of the best known and highly regarded brands, including Hilton^®, Conrad^® Hotels & Resorts, Doubletree^®, Embassy Suites Hotels^®, Hampton Inn^®, Hampton Inn & Suites^®, Hilton Garden Inn^®, Hilton Grand Vacations?, Homewood Suites by Hilton^® and The Waldorf=Astoria Collection^®.The Hilton Family of Hotels adheres to founder Conrad Hilton?s philosophy that, ?It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality.? The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable®. The philosophy is shared by all brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity. For more information about our company, please visit www.hiltonworldwide.com, and to learn more about our be hospitable philosophy, please visit www.behospitable.com.

Why group real estate investing? History has proven again and again that the people who thrive are the ones who work together. Have you ever considered the power of working together to invest with a group?

If you haven’t, I’m going to enlighten you as to a number of reasons why you should consider investing in a group, and explain a few of the many benefits of group investing.

Group real estate investing can maximize financial leverage.

What do I mean by this?

Think about what happens when you put ten percent down, or $30,000 cash, on a single family house and you receive a loan for ninety percent of the purchase price of $300,000…in effect you just leveraged your money TEN times to control an asset worth (if you bought right that is) at least TEN times the money you used to control it.

That $270,000 loan, the other ninety percent of the money used to own the property, was OPM- or “other people’s money”. Maybe you got it from a bank, or a mortgage lender, maybe even from a private lender, or even the seller of the property itself gave you that loan you used to finance ninety percent of the purchase price.

Doesn’t matter, because no matter where the money came from you didn’t need to have the entire purchase price to get control of the property (and enjoy the benefits of investing and real estate ownership)…did you?

Regardless, it’s nice to own a small house with a value of 10 times what you had to invest cash in order to get that ownership.

And for most people, they feel comfortable being on the line for that 90 we used earlier)?

For many people, those last two loan examples are out of their comfort zone.

Even if they had or could raise the amount of money required to control the property.

It wouldn’t matter WHAT the property was worth, or how much more than $27 Million it was worth, signing on the dotted line for $27 Million is just not something they’d be comfortable doing.

And yet many of these are the kinds of deals that provide the BEST dollar-for-dollar returns…so how does the average investor get some of that money? Without shouldering the huge debt service themselves?

Well, it’s often possible when you invest with a group in real estate.

For example, you can leverage the resources of other people, other investors-not just banks and mortgage companies. This can be a major plus because now it is not you alone who is responsible for the entire purchase price or perhaps, not even be on the line for the debt attached to the purchase.

Investing in a group can give you access to investments that might be so large in scale as to be out of reach for you alone. Many millionaire fortunes have been built by investing with groups- not only in real estate.

But let’s stick to real estate for the purposes of this article. Group real estate investing, especially, has proven over time to be very lucrative.

There’s a lot of information you need before deciding to pursue investing with a group in real estate…whether you’re looking to invest with a real estate group that’s already investing or whether you intend to start your own real estate investing group- in which case the scope of this article is much, much too small to adequately prepare you but will point you in the right direction.

Here are some simple tips that will guide you in your decision-making before you invest with a group in real estate:

1. Know the entity/business structure the investing group uses, and make sure it’s conducive to a group

2. Transparency is key- financials should be disclosed to all investors in the group

3. Your money is only as protected as it says in the legal documents

4. Determine liquidity (can investors sell out, or transfer their piece of the investment?) before investing

5. Be aware of investing government regulations (especially SEC)

6. Learn the right questions to ask

7. Hire the right experts, professionals, and advisors- attorneys,
accountants, managers

8. Don’t invest unless you are comfortable with the risk/reward ratio

I hope these tips have empowered you to think about the benefits of investing in real estate with a group. If so, you will have taken an important mental step into a brighter and more prosperous future. In fact, the majority of all millionaires at one point formed an alliance with other people of the same vision to ensure their success.

Perhaps it is time you did, too?