War in Ukraine & Russia: Will the Philippine Economy and Real Estate Be Affected with this event?

Recent news have been flooding the news, our social media feeds etc about this activities happening in Eastern Europe which is happening now in Ukraine against Russian aggression. Although the Philippines is faraway from the possible conflict, there are 342 Overseas Filipino Workers who have left Ukraine and were affected with the conflicts as they flee for their safety to the Philippines or have settled temporarily in other European countries not affected with the conflict.

Inside Real Estate: The Rise, Fall and Redemption of the Xevera Communities in Pampanga

 

 

It has been a year since the distribution of the transfer certificate of titles of the unit owners who have completed their payments previously and are currently residing in the two Xevera subdivisions in Bacolor and Mabalacat City and the Sameera Subdivision in Angeles City. In the past decade, Globe Asiatique Realty Holdings Corporation under the leadership of their then president and CEO, Delfin Lee. Globe Asiatique Realty Holdings, Inc. (GA) was the one of the leading real estate development firms in Pampanga and other parts of the country.

A Look Back on 2020 and Beyond: The Philippine Real Estate Sector (Part 2)

 

Residential Real Estate Prices Declines

In the recent BSP Residential Real Estate Index Q3 2020 report, there is a sharp decline of properties particularly residential condominiums by -23% with many investors affected with the pandemic and the decline of foreign workers of various Philippine Offshore Gaming Operators in Metro Manila which have become the renters of these properties. With high vacancies and non-payments of loans. Majority of owners have decided to sell off their condominiums for other interested buyers particularly real estate speculators due to possible circumstances such as non-availability of credit from financial institutions because of stringent requirements against risks and defaults with a slow economy in recession.

Understanding Real Estate Market Valuation Reports (Real Estate Appraisal): Basics of the Narrative Report

 

 

With the recent COVID 19 pandemic, people are more having a tighter grip on their funds and some have opted to forego their plans for acquisition of properties or other investments. The future seems to be a bit dim right now but there is a glimmer of hope over the horizon on the course of  vaccination discovery in the time of this writing and full production in the coming months by 2021.

We recently received a call from Mr. C who happens to own a vacant residential lot somewhere in the town of Floridablanca, Pampanga. He was referred to us by a colleague and fellow real estate broker by Ms. DD. He was requesting if we can make an appointment with them on the property and possibly discuss the hiring the services of a professional real estate appraiser. However, in our recent discussions with Mr. C as he was hesitant in getting his property appraised because it is an added cost and burden in his part as we have told him that appraisal report may be a cost a bit for the owners but the benefits of the market valuation report could benefit him more and give him another perspective if he decides to stay or build his house on the subject property or just sell it off as it is if he intends to?

For Sale: Two Storey Home in San Agustin, City of San Fernando, Pampanga

Location of this highly safe and secure posh neighborhood where elegantly built homes are seen. It is a few minutes from the two nearby malls - Vista Mall and Walter Mart. Close proximity to major highway via McArthur Highway and many more.

This Mediterranean inspired home located in an exclusive subdivision in San Fernando, Pampanga. Lot is situated in a morning sun location. Streets are well-lit and maintained by current homeowners association. 

Technical Descriptions of TCT: How this is important and vital on your Real Estate Transaction

"Surveying is an art of determining the position of points on or near the earth's surface by the elements in space, namely, distance, direction and elevation. It is also a science and art of determining the area and configuration of portions of the surface and representing them on maps."

In every Transfer Certificate of Title (TCT), the property's technical descriptions helps the geodetic engineer / land surveyor, real estate appraiser or even the eal estate broker in determining the correct metes and bounds of the property. It will give the reader a guide or clue on the right area or dimension of the subject property in question. 

The Philippine Economy and the "New Normal"

I have not been writing for the past few months and have been busy from other things that could detoxify and  destress myself  from this pandemic brought about by COVID-19 that has been trending with almost millions all over the globe were infected with this novel (new) virus. It not only affected production from manufacturing, agriculture, healthcare, and services but including private and public sector. 

INSIDE REAL ESTATE: On Buying Your First Home

"Have you dreamed of acquiring your very own home? Have you imagined, seating on your porch, sipping your morning coffee and reading your newspaper. Seeing your neighbors in the street mowing their lawns or cleaning the front yard? Or just getting ready for morning rush of going to work."

 Buying your first real estate residential property requires tedious and multiprocessing tasks of properly planning and making wise but crucial decisions. Buying a house doesn’t involve you as a breadwinner but involves your wife as a co-maker and a borrower and the whole family as beneficiary in securing your very own home and in the right neighborhood where you can live and flourish. 

Gentrification: When Old Neighborhood is Redeveloped Into A New Neighborhood

Photo by Marfil Graganza Aquino from Pexels

With the influx of migrant workers from mainland China working with locally based Philippine Offshore Gaming Operator (POGOs) companies located in Metro Manila and elsewhere in the major cities of the Philippines. A number of locals are being displaced and being uprooted out of their from their homes and old community where they have grown or lived over the years to accommodate new developments in place with old neighborhoods being torn down and redeveloped into new posh neighborhoods complete with business / commercial establishments and others catering only to those that can afford the luxury and lifestyle of the modern high society.

What is Gentrification?

Gentrification is a process of changing the character of a neighborhood through the influx of more affluent residents and businesses. This is a common and controversial topic nowadays with is happening around communities in Metro Manila. Politics, lack of urban planning and graft & corruption in recent times stirred problems in the NCR. In the world alone, housing rents have risen tremendously at three folds. An example of this is Amsterdam in the Netherlands and the city of London in United Kingdom with prices skyrocketing because of the tourism and international investors coming from the Far East. Local residents of London or Amsterdam are moving out of these cities and living a few kilometers away from suburban areas close to the capital or another city with lesser cost of living but accessible to their work / employment and businesses.

What You Should Know About Estate Settlement?

Sharing my thoughts for those who still want to apply for Tax Amnesty on real properties, stocks / shares and others of their deceased decedents. Below was taken from the Rules of Court under the Philippine laws.

RULE 74

Summary Settlement of Estate

Section 1. Extrajudicial settlement by agreement between heirs. — If the decedent left no will and no debts and the heirs are all of age, or the minors are represented by their judicial or legal representatives duly authorized for the purpose, the parties may without securing letters of administration, divide the estate among themselves as they see fit by means of a public instrument filed in the office of the register of deeds, and should they disagree, they may do so in an ordinary action of partition. If there is only one heir, he may adjudicate to himself the entire estate by means of an affidavit filled in the office of the register of deeds. The parties to an extrajudicial settlement, whether by public instrument or by stipulation in a pending action for partition, or the sole heir who adjudicates the entire estate to himself by means of an affidavit shall file, simultaneously with and as a condition precedent to the filing of the public instrument, or stipulation in the action for partition, or of the affidavit in the office of the register of deeds, a bond with the said register of deeds, in an amount equivalent to the value of the personal property involved as certified to under oath by the parties concerned and conditioned upon the payment of any just claim that may be filed under section 4 of this rule. It shall be presumed that the decedent left no debts if no creditor files a petition for letters of administration within two (2) years after the death of the decedent. The fact of the extrajudicial settlement or administration shall be published in a newspaper of general circulation in the manner provided in the nest succeeding section; but no extrajudicial settlement shall be binding upon any person who has not participated therein or had no notice thereof.

What is FATCA and Other Implications of this U.S. Law?

There is a questionable topic for former Filipinos with foreign citizenship regarding rules by Bangko Sentral ng Pilipinas and the commercial banks in the country in recent years if one have seen item's on application for new bank account or even when updating your bank account files. One will see some section concerning Foreign Account Tax Compliance Act (FATCA). FATCA is a tax law that compels U.S. citizens at home and abroad to file annual reports on any foreign account holdings. FATCA was endorsed in 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act to promote transparency in the global financial services sector during former U.S. President Barack H. Obama's administration.

COVID 19: Effects to the Philippines and The World Economy

Photo by Anna Shvets from Pexels

The world is in total grip towards pandemonium of Coronavirus Infectious Disease 2019 or COVID 19 (formerly Novel Coronavirus 2019). It wreak havoc in mainland China where the source of this infection believe came from in the market of the City of Wuhan, Hubei province, People's Republic of China. Although World Health Organization (WHO) officials mentioned at there is only a 2% chance of the probability for a patient afflicted with such disease die and 98% recovery rate. It still remains a threat to our borders and our national security, weakening the citizenry and stretching the nation's healthcare resources to the maximum. Our country, the Philippines is vulnerable to such pandemic effect of this new disease hitting our shores as we are very close proximity to mainland China with two related deaths of COVID-19 of whom the two casualties were Chinese citizens were reported as this writing. 

A Property Appraisal Case Study For Australian Immigration Visa Application

Photo by Hugo Heimendinger from Pexels

This is one of the cases we handled over the past few years in giving our clients the tailor fit services in their compliance with their immigration requirement under Australian laws where they wish to migrate.

As a real estate professional we are happy to be of services to such people who are in need of such particular services that can help them fulfill a part of their dreams of living outside of their original home country. Such as this former clients of our who we had withheld their names and specific location and their current whereabouts.

Inside Real Estate: How To Flex Your Real Estate Payment Capability?

Photo by rawpixel.com from Pexels

For many Filipinos it is a dream for a family to own their home and live in a plot of land they call theirs as it shows pride and satisfaction for any homeowner to acquire a property for use as their primary home. 

It has been a problem for most  home buyers in building one's equity. It is worrisome for most home buyers, to have incur expenses to used for a down payments  which is out of pocket requirement for prospective buyers. However, there are Rent-To-Own schemes available but will be discussed on another topic.

Why Invest in the City of San Fernando, Pampanga?

In celebration of its 19th years as a city with its founding anniversary as a town on 16th August 1754.

The City of San Fernando, Pampanga is the 99th city recognized by the Republic of the Philippines under Republic Act 8990 on the 4th of February 2001 under the bill filed by Second District Representative and former City Mayor Oscar Rodriguez and the campaign of former Mayor Dr. Jesus Reynaldo Aquino in 1997. It is one of the component city of the province of Pampanga where the gubernatorial seat and the national government agencies and services of Region III are located.

The Aftermath: Disaster at Taal Volcano

It's been nine days since we got out of the volcanic eruption happening then in Cavite and Batangas area. We were attending a strategic planning workshop for 2020 with REBAP National Chapter when the inevitable incident happened.

Inside Real Estate: Real Estate Investing Trust (REIT) As Your Future Investment Vehicle

Screengrab from Youtube

Since the passing of Real Estate Investment Trust (REIT) Law or Republic Act 9856 in 2009, it was the talk of the town and was deemed another type of investment vehicle for people who wish to invest on properties from real estate developers.

We were given the opportunity to attend the event through Real Estate Brokers Association of the Philippines (REBAP) - National Chapter on that occasion of their 3rd National General Membership Meeting on which took place Wack Wack Golf and Country Club in Mandaluyong City.

Philippine Economic Outlook for 2020

Amidst the ongoing trade war between China and the United States of America including global issues pertaining to climate change, human rights and humanitarian crises happening around world and this country. Philippine economists  are optimistic are optimistic on our country's growth for year 2020. Bangko Sentral ng Pilipinas Deputy Governor General Francsico Dakila Jr. have recently reported good news collating with other non-government agencies such as Asian Development Bank are in fact optimistic with the growth of the Philippines with their positive economic forecast.

Inside Real Estate: Residential Condominiums Are Here To Stay?

For the few decades, the Metro Manila landscapes is littered with pocket developments of high rise buildings located mostly in the commercial business districts areas of Makati, Quezon City, Bonifacio Global City (Taguig) and Alabang. With some developments nearby MRT / LRT train stations or closer to universities / colleges dotting the Taft Avenue and EDSA.

Fundamentals of Real Estate Ownership And FAQs in Philippine Properties

For most Filipinos (or even foreigners) to own their home in the country is the dream country. It brings a great fulfillment and satisfaction on investing a properties that can be used as an instrument for investment (for leasing / selling), for pleasure (vacation home) or just a plain home where you can enjoy one's company with one's own family.