Our family of 5 stayed at the Hotel Casacolores in early May 2012. The weather was good, though there was some rain since May is on the cusp of the rainy season. (Check the weather patterns in Costa Rica before you book a vacation there!)
The accommodation (a collection of bungalows) is fairly basic, but clean and spacious with full kitchen facilities. The property is a hike from town (up a steep hill), which wasn't a problem for us since we had a car. Our unit had two spacious bedrooms, a kitchen / eating area and a large porch. We were able to park our car right outside the cabin.
The property has a nice pool and the owners (Reuben and Catrina) are very helpful about virtually anything. We had our rental car broken into at Santa Teresa and had to deal with that issue while we were there. Reuben and Catrina let us use their phone and were most sympathetic. We felt completely safe at Casacolores -- and generally in Costa Rica -- but the car break-in (which occurred while we were swimming, within sight of the car) reminded us that one must be always vigilant (especially with a rental car).
I would happily return to Casa Colores!