Philippine Real Estate

Property "Pac-yawan" Bazaar Post Auction

2009-12-11T10:18:00.002+08:00

CBRE has just concluded its Property "Pac-yawan" Bazaar yesterday at the Brasserie, Security Bank Building.

For those who missed the chance, don't worry. You can still avail of the properties at its Auction Price!

CBRE is having its POST AUCTION PERIOD within one month after the auction. During this time, unsold properties will still be priced the same and buyers who missed the auction can submit their offers subject for approval of the seller. After the post auction period, the prices of the properties will return to its market price which is most of the time higher that its auction price. For those interested, you may call the numbers printed on the ad, or get in touch with me through 09326821846.

Happy Hunting!

When Dirt means Gold

2009-12-05T18:19:00.000+08:00

I haven't been posting lately due to my busy work sched, I'll be sharing this news clip taken from Philippine Daily Inquirer courtesy of one of my colleagues Mr. Vic Asuncion. Thanks for your very informative emails Sir Vic! as I had mentioned in my previous post, the key to be sucessful in real estate investment, or perhaps in any business venture, is information and anticipation.

Experts advise residents to hold on to their properties
By Tessa Salazar Philippine Daily Inquirer
First Posted 20:57:00 12/04/2009/ http://business.inquirer.net/money/features/view/20091204-240133/Experts-advise-residents-to-hold-on-to-their-properties

SHOULD they, or should they not?

For Jones Lang LaSalle LeeChiu research head Claro Cordero, victims of recent typhoon “Ondoy” should hold on to their homes for now. Against the consensus of many homeowners in flood and landslide-stricken areas of Antipolo, Cainta and Marikina, Cordero reminds them to review the fundamental attractions of their areas.

National Real Estate Association president Alejandro S. Mañalac agrees with Cordero’s advice, saying “there is wisdom in it.”

Cordero said any significant downward movement in prices immediately following a disaster would only be temporary.

After more than eight years of observing the industry, Cordero holds the position that prices will most likely normalize over the medium term.

After all, he explains that the valuation of these properties in the past already accounts for the propensity of these areas to flood.

“Selling it now means offering it much lower than its actual value. With the learning that we had with the recent experience taught by the dynamic duo of Ondoy and “Pepeng,” we already know better how to prepare... or at least avoid being physically hurt,” Mañalac said.

Calamity-proof twin towers

For individuals and families on the lookout for high rises as an alternative to single-level homes (and possibly as a protective measure against floods), they should keep a keen eye on Ortigas & Co., which recently announced it was on track with the development of its two towers located at the site development of Circulo Verde, the masterplanned residential community on Calle Industria in Bagumbayan, Quezon City.

Ortigas & Co. engaged the services of DCCD Engineering Corp., which has 50 years of experience in hydrology and flood control, to meet the technical challenges. Michael Reyes, president and chief operating officer of DCCD, says, “Even in the planning of Circulo Verde, we wanted to prepare for anything. When we gave our parameters to our engineers and architects, we tasked them to provide protection against natural calamities, including earthquakes, flooding and typhoons.”

Estimated to cost P15 billion in total investments over the next 15 years, the developer has poured in P350 million to protect the property from future flash floods. It will build a retaining wall, which will run a kilometer around the periphery of Circulo Verde.

“Complementing this design, the entire site has also been raised by eight meters from the level of the Marikina River. At the same time, a new canal at the fore of the property is in the works to collect the storm runoff coming from Calle Industria. This will guide floodwater from adjacent areas to the appropriate outfall,” said Cathy Casares-Ko, general manager for real estate, Ortigas & Co.

Secondary defense measure

Aside from being protected from the river, residential buildings are equipped with pumping systems as a secondary defense measure, especially in ground-level car parks. The pumping systems are also equipped with one-way pipe valves to prevent back flows.

“Even with all these measures in place, we have instructed DCCD to revisit the hydrological and flood study for Circulo Verde and will implement new designs, if any is recommended,” Ko adds.

The twin towers’ construction is scheduled to finish on time, the developer assured. The first phase of construction, which has been allotted P3 billion, includes the construction of five residential towers on 2.7 hectares of the 12-hectare property. This year sees the rise of the 23-story Ibiza Tower, which, intended for independent professionals and young couples, offers one- to two-bedroom units (44 to 80 square meters in single- and bi-level layouts). Also underway is the 11-story Majorca Residences with one-, two-, and three-bedroom units (42 to 107 sq m) dedicated to growing families.

Integrated community

Reflecting high interest in the mixed-use project, which highlights the concept of an integrated community, preselling of units in Ibiza Tower has reached 60 percent, while all units in Majorca Residences have now been sold. Building development continues with piling works for both the foundations of Ibiza and Majorca ongoing and utilities going online. With a promised delivery date in the third quarter of 2012, Ko places confidence in the project’s timeline.

Cordero has advised existing homeowners affected by Ondoy to work collectively in drawing up flood prevention plans and other strategies to protect the quality of life in their subdivision. Aside from providing assurance to homeowners of their safety, these measures can positively impact perceptions and help valuations in their areas return to their real levels.

Mañalac adds that it is actually much easier to deal with floods than earthquakes in the sense that the former can be forecast and monitored as it approaches the areas to be affected.

“If we have not yet made preparations as far as the structures of our houses is concerned, like adding another level, constructing roof decks, etc. because we could not afford it yet, we can always move our things up, lock and leave the house until the storm has passed. On the other hand, an earthquake strikes without any warning since nobody as of now can predict when and where it will happen and how strong or how long it will be.”

NREA stresses that if the government realizes the urgency to prioritize the programs and projects which were meant to address the flood problem like the ones being proposed by architect Jun Palafox, the residents of these areas can continue their lives with less worries.

The Four Things in Real Estate investments

2009-11-30T11:31:00.000+08:00

I'll begin this post by advising everyone that my old number (09322404546) was lost yesterday when someone broke into our house and stole my phone. I'll post my new number here sometime this week.

Luckily my laptop was spared since it was inside my room and that crazy person did not care to search the house thinking were on our way home.

I remember someone saying "Never leave your key in a secret place, for secret things only exist when no one else knows."

Back in college when we are talking about cities and urban Planning, I had believed that there are three things to consider in a real estate investment. That is Location, Location, Location.

When I got my first job, I was made aware of the fourth one. Location, Location, Location... and Price.

Price is a very important factor in real estate investments. especially if you have money; the heart and blood of the corporate world. I have met numerous people opting to buy poorly maintained properties and not minding the problems that go with it since they'll be getting the property at a very low price. If you have the leisure of time to wait till the problems are fixed, e.g. have the leisure of time to negotiate with the informal settlers, or wait till the house can be repaired, or the TCT's to be consolidated, then you may find yourself hunting for very cheap properties.

In my personal experience in facilitating Public Auctions for properties of various banks and SPV's, i can personally attest that Prices are the main driving factor of Public Auctions. It's the best way to generate interest of potential buyers.

Some may then ask, why can some companies afford to lower down their prices, so low that it seems that they'll only be breaking even? It's because most auctioned properties are non-performing assets, thus in the long run, they'll just be incurring losses due to Taxes imposed over the property, not to mention the maintenance cost that the owners/sellers have to shoulder. So don't be surprised if a company is selling the property at a very low price. But I do suggest that you conduct your due diligence over the property first just to be very sure.

In this time that markets are down, companies are very eager to dispose their non-performing assets, Take every chance that you can to get the properties while they're cheap. It's only a matter of time before things will turn around. Remember that in business, There are no Linear Paths, Only Cycles.

2009-11-27T12:27:00.000+08:00

Back in College, i remember one of my classmates saying,

"The three important factors in choosing a property will be..."
1. Location...
2.Location...
3.Location.

This is what Justine Llanes, one of my classmates said when we were tasked to showcase our subject cities in NCR as a good place to either live, see, or put businesses in.

Location is indeed an important factor in buying real estate properties; whether for investment or personal use. Perhaps because you can't move a property from one place or another.

I'll be discussing some points that people should remember when inspecting and choosing the properties that they'll buy.

- Check the terrain

Check the property's level vis a vis the existing road, is it higher than the road or would seem like UP Diliman's sunken garden? Remember to Check the roads leading to your property. If the property lies on the lower end of the road, better check the potential flooding within the area. Dont be afraid to ask the neighbors (rather than just relying on the owner's claims). The neighbors definitely know if the property is flood prone and will be honest enough to admit it.

I'll cite the case of a famous fast food chain in Congressional Ave. during the wrath of Ondoy, One can quickly say they have a very good location since they are at the intersection of Mindanao Ave. and Congressional Ave., but during the typhoon, they served as a "catch basin", from flood waters coming from four different directions.

So when it comes to the terrain, don't just look at the property itself. Look at how far it is from Creeks, Bridges, Rivers and other bodies of water. Look around you. You'll soon be thankful that you did.

- Look for various access to resources.

If you're planning to buy a residential property, check how far it is to the nearest Market, Hospital, Department Store, or perhaps school, or even police or fire station. If you're buying a subdivision lot, you'd want to check how far it is from the clubhouse and various amenities. You definitely would not want to travel half an hour just to reach the Market or would want the fire fighters and the police to take an hour just to reach your house, would you?

Buying a property doesn't just end in checking if it is flood free or not, especially if you and your family will live in it. Check your needs and how will you get it once you're living in the property.

- Be aware of the recent and upcoming developments in the area.

This is one of the advantages a good investor. He makes sure that he is well informed. So he or she can purchase a lot for a low price before the price increases due to various developments within the area. One property might be selling low due to a lack of decent access road leading to the property but when an investor learned that the Local Government Unit is to build a cemented road leading to the Vicinity of the property, he took advantage of the chance and what he knew. Eventually prices started to soar, Now he has the option to sell it at higher price or develop the property and sell it even higher than before.

It all starts with Information and Anticipation.

CBRE Auction Dec. 10 2009

2009-11-25T12:24:00.000+08:00

CBRE will hold its Property "Pac-yawan" Bazaar Christmas Public Auction this coming Dec. 10, 2009. This will be a great opportunity both for people who would like to invest and for those who would want to grab the chance to purchase their new home at a very friendly price.

Properties will be auctioned at very low prices, making it an opportunity everyone wouldn't want to miss. The Areas covered are Manila, Paranaque, Valenzuela, Baguio, Batangas, Cavite, Laguna and Rizal.

For the complete List of Properties, you may check out this LINK

Happy Property Hunting!

Property Investments 101

2009-11-25T12:23:00.000+08:00

What When and Where of Real Estate Investments

People look for real estate properties for various reasons.

Some are looking for their first home, or planning to buy another one. Some are dealing with it as their business venture; Seizing every opportunity to find "good buy" properties and selling it a a higher price after some time.

When to engage in real estate investments - real estate prices drop along with market prices. look for market downturns and grab the opportunity when properties are priced low. It is only a matter of time when the prices will go up due to development within its area, or plainly an improvement in the market activity. always remember that there is no linear path in business, its all about cycles.

What to look for - as what every real estate investor know about buying real estate properties, "Good Buy" properties should have a good location, good status/condition, and a good price. Though the presence of these three all at the same time is a bit rare, just a mixture of these two conditions can make a property a good buy. I will post another entry to discuss these terms in detail.

Where can we find these properties - There are many ways on how to find a "Good Buy" property for your business or personal use. Some people use the services of brokers/agents to look for a property requirement. Some browse the newspapers for a list of properties for sale. In this context a public auction is a "gold mine" for both investors and end-users.I will discuss the advantages and the downsides of public auction in my future posts.