Like most markets that were closely tied to the U.S. housing market, the central Pacific Coast in Costa Rica went through quite a downturn the past few years. Investors who previously could depend on rapid appreciation saw their home values level off or fall. In some cases they fell quite a bit.

Situations like this always create opportunities for new buyers. They key is getting the timing right. Buy too soon and you’ll lose out too. Wait too long and you can overpay by a hundred grand or more.

Some Latin American markets seem to be stabilizing and even rising as the economy slowly picks up and more retirees head south.

Could this be the time to buy on Jaco Beach or get a hillside villa with a panoramic view in the Manuel Antonio region? Or further afield in Quepos?

See what the luxury real estate agencies in the region have to say in our latest luxury real estate round-up: Costa Rica: West Coast Property Boom Redux.

........Maroma Resort & Spa, Riviera Maya........

The June issue of Conde Nast Traveler had their readers poll results on top spa hotels and resorts arount the world. South America was missing in action and the “Mexico and Central America” section had 19 results for Mexico spas, one for Central America.

So first of all, congrats to Four Seasons Costa Rica for being the only resort south of Mexico to get on readers’ radar. They were #8 overall, with a perfect score for their facilities. Having soaked in their pools and gotten a great sports massage after a golf game there, I’ll agree wholeheartedly that it’s a special place for unwinding and relaxing.

Travel + Leisure’s last spa rundown had 5 resorts in Central and South America (including another Costa Rica resort, Tabacon).

These magazine reader polls are subject to lots of ballot-stuffing of course. PR firms and hotel chains buy a lot of staffer subscriptions so they can put in their votes. (That partly explains why you see so many perfect scores of 100 at the top.)

But hey, in a bit of circular cause and effect, the most famous places do have the resources to keep facilities and staffers top-notch and with such a high reputation at stake, they’re going to go out of their way to make you happy. After winning these awards, the great ones tend to stay great.

Here are the top spa resorts in Mexico where we’ve reviewed the hotels in detail. (Some of the others placing high are in non-luxury properties.)

Capella Ixtapa
Capella Pedregal – Cabo San Lucas
Maroma Resort & Spa – Riviera Maya
Rosewood Mayakoba – Riviera Maya

Esperanza – Los Cabos
Fairmont Mayakoba – Riviera Maya
Pueblo Bonita Emerald Bay – Mazatlan

One&Only Palmilla – Los Cabos
Ritz-Carlton Cancun

Four Seasons Punta Mita – Riviera Nayarit

See the full list for all regions of the world at CNTraveler.com and follow this link for all our reviews of the best luxury hotels in Mexico.

Time is running out if you want to score four free nights in a luxury beachfront condo in Costa Rica. It sleeps six, so you can bring plenty of friends or family members along.

It’s our fourth anniversary, so we’re thanking all our readers with four nights in style. It’s a quick hop from where this condo is on Jaco Beach to animals, volcanoes, birds, surf, ziplining, and rafting.

Follow this link to see the details and sign up. It’s only open through the end of May, then we’ll pick a winner and they (or you) can make their reservations through luxury villa rental company Mead Brown.

Enter – 4th birthday condo giveaway

Luxury Latin America turned four years old this month, so we’re celebrating by giving our readers a chance to score four nights in the lap of luxury on the Pacific Ocean in Costa Rica.

We’ve teamed up with one of our long-time partners, Mead Brown Costa Rica Vacation Rentals, the leading villa vacations expert for the country.

The winner will receive four nights in a three-bedroom luxury condo facing the water at Vista Las Palmas. You can bring along five friends or family members if you want because here’s what comes with the unit:

The contest is open to all Luxury Latin America readers from now until May 31, 2012. Get your entry in pronto before you forget and spread the word to whoever else you would bring along.

See more details and the entry link here: Costa Rica 4-night Contest 2012

....(Your editor researching in Punta Mita)

The April 2012 issue of Condé Nast Traveler has another reader’s poll, this time highlighting golf resorts. Six of the 20 in the International category are in Latin America.

They’re all familiar names to Luxury Latin America readers and you can follow the links to see our detailed, professional reviews.

One&Only Palmilla in Los Cabos, Mexico

Four Seasons Resort Punta Mita, Mexico

Esperanza, Cabo San Lucas, Mexico

Four Seasons Resort Peninsula Papagayo, Costa Rica

Fairmont Mayakoba, Riviera Maya, Mexico

Moon Palace Golf & Spa Resort, Cancun (not a luxury property)

Fairmont Acapulco Princess, Mexico

Keep in mind that these readers’ polls get distorted by lots of factors, including which places are already the most popular and who’s doing the best job at mobilizing their staffers to engage in ballot stuffing. So you’ll seldom see lesser-known gems like Tamarindo in Costalegre or a golf resort in Guatemala, of all places. You’ll have to discover those on your own.

Here are some other golf round-ups of ours to check out for ideas:

Golf Courses of Los Cabos

Golf in Puerto Vallarta and Riviera Nayarit

Golf Communities Sprout in La Paz, Baja Mexico