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Old January 18th, 2006, 10:17 PM   #201
3cr
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Quote:
Originally Posted by dcdr76
thanks for the reply.
so you think condos are not really a good investment unless it is in a prime location?
DCDR76,
As they say "Location, Location, Location" and I'm sure you've also heard "You get what you pay for" numerous times. Any competent realestate advisor will tell and remind their clients of these since the statements still hold true, especially in today's realestate market. The development's location matters whether choosing a condo unit for a residence, for investment (rental/lease), or for re-sale purpose later down the line. Do your due diligence and research as much as you can. Choose carefully because there is a glut of construction projects in and around Metro Manila but only a handful will really be worth the investment. Mandaluyong, Makati, and Fort Bonifacio are some of the areas worth looking into. Better stick with reputable developers because there are a lot of projects that don't get finished. Finally, remember that price is always negotiable (even for pre-selling) so negotiate hard for concessions (price discount, favorable payment plan, etc.) should you decide to invest in a unit/parking. Hope this helps you if any.

Last edited by 3cr; January 19th, 2006 at 12:49 PM.
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Old January 18th, 2006, 10:34 PM   #202
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@3cr, I am just curious. After your stint in the US and your return to Manila, what are you planning to do? Engage in business or semi-retire?
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Old January 19th, 2006, 07:09 AM   #203
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LF: Condo in Global City

My very first post. Actually I registered because Im hunting for a condo unit at the moment. Can you guys help me out. Im looking for one which is affordable. I can shell out 100k as downpayment and pay monthly of 15k or less. Meron kaya nito sa Global City? If you know of one, please email me at [email protected]

I would also appreciate some tips and some pitfalls i must be aware of in dealing with agents. Which condo developers are good? I hope you guys could help. Thanks a lot.
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Old January 19th, 2006, 07:24 AM   #204
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medyo mababa yang 15K monthly ammortization.. usually may mga balloon payment na kasama yung mga terms.. pero kung straight 15K a month.. i doubt kung may makikita ka sa Global City..

try mo sa GA Tower2.. spread ang downpayment in 48 months.. tapos yung balance.. pwede mo ipasok sa pag-ibig.. spread over 20 years.. dyan baka umabot yung 15K a monthly ammortization.. kaya lang sa Mandaluyong area yan..

Quote:
Originally Posted by corn
My very first post. Actually I registered because Im hunting for a condo unit at the moment. Can you guys help me out. Im looking for one which is affordable. I can shell out 100k as downpayment and pay monthly of 15k or less. Meron kaya nito sa Global City? If you know of one, please email me at [email protected]

I would also appreciate some tips and some pitfalls i must be aware of in dealing with agents. Which condo developers are good? I hope you guys could help. Thanks a lot.
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Last edited by Dvorak; January 19th, 2006 at 07:29 AM.
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Old January 19th, 2006, 12:29 PM   #205
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Lili,
Malamang semi-retired. My purpose of going back home is not really much for economic prosperity but more of personal growth as well as hopefully a much simpler and better quality of life away from the hustle and bustle of the daily grind. But at the same time I honestly think the prospect of being officially retired will just bore me to death for sure hence what I hope to achieve is a balance between the two. Just think life is short so I'd like to take the opportunity to enjoy it while I'm still young enough and able to do so.

Last edited by 3cr; January 19th, 2006 at 10:17 PM.
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Old January 19th, 2006, 05:19 PM   #206
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Good for you @3cr! Thanks for responding.
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Old January 20th, 2006, 01:22 AM   #207
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Quote:
Originally Posted by akaflores
totally agree with bustero, although I am assuming that if you choose Fort, you will be choosing a property not by Megaworld, ie. Forbeswood Heights, Bellagio, etc...

As a balikbayan, I love Eastwood kasi I don't need a car to get around. Everything is within reach, for myself, my wife and my kids. However, you don't want to be confined in Eastwood City all the time. Due to traffic and few access points, getting in and going out of Eastwood is horrible. The Fort is just a stone's throw away from Makati and has much better master-plan than Eastwood.

Either way, wherever you buy, during the walkthrough and turnover, inspect everything and don't accept your unit until everything is working and according to your agreement.
Question for you... as a balikbayan, how difficult was it for you to preview your unit prior to turnover? Basically, my concern is timing my travels to the philippines to coincide with the inspection, repairs (if needed) and turnover of the unit. I anticipate i will only have 3 weeks to spare in the philippines and that may not be enough time for the developers to resolve any construction issues prior to turnover.

Although my turnover is not due until 2010, this matter concerns me and I want to be prepared.

Any advice you (or anyone else) can give is much appreciated.

Thanks.
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Old January 20th, 2006, 04:38 AM   #208
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FORT or EASTWOOD

we prefer BGC, not because that we have projects there but i think it is far better than eastwood, BGC is masterplanned, underground electricity, not saturated with buildings, value appreciates faster, friendly pedestrian walkways, less pollutiion, soon they will abolish jeepneys..

BTW RLC is eyeing d adjacent lot where MPR is located, hopefully we can seal d deal soon to make way for another residential project.
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Old January 20th, 2006, 05:08 AM   #209
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Quote:
Originally Posted by corn
My very first post. Actually I registered because Im hunting for a condo unit at the moment. Can you guys help me out. Im looking for one which is affordable. I can shell out 100k as downpayment and pay monthly of 15k or less. Meron kaya nito sa Global City? If you know of one, please email me at [email protected]

I would also appreciate some tips and some pitfalls i must be aware of in dealing with agents. Which condo developers are good? I hope you guys could help. Thanks a lot.

I think the ones which might have units in your budget will be the gilbert Yu projects like Kensington and Hampton Place. They were touting themselves as having the lowest per sq.m. price in the fort. They have a website but cant find it. try googling GW architects.

I know Bonifacio Ridge is supposed to be a cheap , Dvorak had some comments about it before something with the aircon but it remains finished but partly unsold as it one of the development caught up in the 97 problem. The developer just finished it so di sila maphiya.

I think Bevepi is a Robinsons Broker you could pm her to see the status of their projects, they were reasonably priced naman.

I'm not sure but highly doubtful you can find something in SOMA, you can try though, check the century property website. Same goes with the RFM projects there.

The other fort projects may be a bit pricey, though if you wait a few years you may be able to snap something up from the secondary market. With the huge wave of condo's coming up am not sure there will be a big surge in capital appreciation, at least not much more than cost of money.

check out this website if you don't want to troll all the threads here. realestatemovers.com it's run by a broker I know Cynch Yap. She's ok naman of course caveat emptor. good luck.
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Old January 20th, 2006, 05:11 AM   #210
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Actually i looked into Kensington and Hamptons . they are not cheaper by that much. If you compare it with Soma. It comes out being the same per square meter and Soma may be even cheaper since it is fully furnished. they told me kensington was sold out.
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Old January 20th, 2006, 05:24 AM   #211
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Great attitude.
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Old January 20th, 2006, 05:25 AM   #212
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Boni Ridge comes out as less than 80K per sqm.. kaya lang malalaki nga ang cuts don at 113sqm.. kaya ang average price is nasa 7M to 9M.. at pag may golf course view.. it can go up to about 95K to 100K per sqm... depende kung partial or full golf view.. so they're not really that cheap.. kaya hanggang ngayon meron pa rin yatang mga 20 units available..

Quote:
Originally Posted by bustero
I think the ones which might have units in your budget will be the gilbert Yu projects like Kensington and Hampton Place. They were touting themselves as having the lowest per sq.m. price in the fort. They have a website but cant find it. try googling GW architects.

I know Bonifacio Ridge is supposed to be a cheap , Dvorak had some comments about it before something with the aircon but it remains finished but partly unsold as it one of the development caught up in the 97 problem. The developer just finished it so di sila maphiya.

I think Bevepi is a Robinsons Broker you could pm her to see the status of their projects, they were reasonably priced naman.

I'm not sure but highly doubtful you can find something in SOMA, you can try though, check the century property website. Same goes with the RFM projects there.

The other fort projects may be a bit pricey, though if you wait a few years you may be able to snap something up from the secondary market. With the huge wave of condo's coming up am not sure there will be a big surge in capital appreciation, at least not much more than cost of money.

check out this website if you don't want to troll all the threads here. realestatemovers.com it's run by a broker I know Cynch Yap. She's ok naman of course caveat emptor. good luck.
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Old January 20th, 2006, 05:26 AM   #213
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uuy sama ako don sa pag enjoy!! hehehehe

Quote:
Originally Posted by 3cr
Lili,
Malamang semi-retired. My purpose of going back home is not really much for economic prosperity but more of personal growth as well as hopefully a much simpler and better quality of life away from the hustle and bustle of the daily grind. But at the same time I honestly think the prospect of being officially retired will just bore me to death for sure hence what I hope to achieve is a balance between the two. Just think life is short so I'd like to take the opportunity to enjoy it while I'm still young enough and able to do so.
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Old January 20th, 2006, 05:38 AM   #214
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General: Real Estate DEVELOPERS/BROKERS

I noticed that many people get directed to this forum because they're looking for property. I also noticed we have many brokers who are also forumers with good information. A lot of this information is actually very helpful to forumers and curious inquiring lurkers. I understand that there's supposed to be a non-soliciting rule, but most of the brokers who are here have been gentlemanly (and ladylike) not abuse the forums, yet the need for information is there.

I suggest that this thread be set aside strictly for broker, selling, buying issues. It would be good place to find a relevant broker specially for our friends abroad and hook up with someone here who is knowledgable in a particular scheme or project. Perhaps a simple question and answer format may work, am not sure. I do suggest though that if a person is truly interested they can already start PM the broker and viceversa, of course don't abuse it.

Anyway mod's should monitor this for abuses and should it be worthy and active sticky. If you think it's no good you can merge it with the other threads.

Anyway to start it off, and this is addressed to all brokers in general but anyone can put their 2 cents worth of course, is a question posted in the Eastwood or Fort boni thread. A new forumer was asking about how best to find a good broker, best practices and what they can expect . I think this also goes not only for the services of the broker but what sort of deliverables they can expect from the developer etc. Fire Away.
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Old January 20th, 2006, 12:32 PM   #215
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Corn,
Looks like you'll be hard-pressed to pick-up a unit in FBGC with your current budget. For sure Ayala's Serendra, Philtown's One McKinley and Fairways Tower, Century's Essenza and Soma, Megaworld's Bellagio, Forbeswoods Heights and Forbeswoods Parklane, Regent Parkway, Pacific Plaza, Icon, and BoniRidge will be out of your price range. Better ask Bevepi (a Robinsons Rep) regarding Robinson's projects such as Fifth Avenue and McKinley Park Lofts in FBGC. There are also some FBGC projects such as Winville, Penhurst Kensington and Hampton kung hindi pa sold out. I would stick with a reputable developer though since there are a lot of projects in and around MetroManila that don't get finished. Hope this helps.
Quote:
Originally Posted by corn
My very first post. Actually I registered because Im hunting for a condo unit at the moment. Can you guys help me out. Im looking for one which is affordable. I can shell out 100k as downpayment and pay monthly of 15k or less. Meron kaya nito sa Global City? If you know of one, please email me at [email protected]

Last edited by 3cr; January 20th, 2006 at 12:58 PM.
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Old January 20th, 2006, 12:52 PM   #216
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You're welcome Lili.
Thanks Bustero.
Aba syempre Dvorak!
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Old January 20th, 2006, 12:53 PM   #217
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EASTWOOD!

QC

Quality City!!
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Old January 21st, 2006, 07:11 PM   #218
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Buyers beware!
HOW CERTAIN ARE YOU THAT THE property you are buying with your life's savings will not go to waste? How confident are you that the developer you are dealing with can complete the job as promised?

Sure, the brochures are attractive! The prices are reasonable. The entrance gate is impressive. But are you sure the development will be completed and that you will get to live in the house you paid for with your sweat and blood?

Preselling

Since the cost of money is so high, most developers resort to preselling. That's marketing the lot or house or unit even before starting the project or while it is still under construction.

A lot of people buy during this preselling stage because the prices are lower and the rates are better since the developer need not add a premium for the cost of his money. But the trade off is that the risks of noncompletion are higher too.

To clarify the issues and identify checkpoints in protecting prospective buyers and investors, I met with the Housing and Land Use Regulatory Board (HLURB) main man, Commissioner and chief executive Romulo M. Fabul. Having served the board since 1982 and handled various offices under the past five presidents, he is the best person to speak to us about the field of housing in our country.

He recommends that even before giving a downpayment on the lot, condo unit, townhouse or house of your choice, one must be aware and take steps to minimize the risks.

Suggestions

So, in summary, he suggests that the prospective buyer must do his homework.

· Check if the developer has a permit or license to sell issued by the HLURB. If the developer has not fully complied with the HLURB requirements, such a permit will not be issued. This ensures that the developer has the capacity to complete the project.

· Check the track record of the developer. Established developers will not compromise their names with incomplete projects. Try to find out if there were instances when the developer was not able to complete a project and why.

· Have an expert check the product or the construction plans if at all possible. Or if there's an ongoing construction, ask a knowledgeable person to look the site over. The most important items to look at are not the finishes but the structural, plumbing and electrical systems. Plumbing issues could prove to be a nightmare for the hapless homeowner. Electrical problems can be very dangerous and weaknesses in the structure will not only be expensive to repair, but can be extremely disastrous.

· Buying lots in old or existing subdivision are even trickier. Consult the neighbors and homeowners' association. Verify the records from the register of deeds for back taxes and ownership.

· Listen to your intuition. There are pieces of property that emit good vibrations and some just don't. Remember, this is a house that you would probably live in for the rest of your life and maybe pass on to your children, so it is important that you feel good about it.

There are no shortcuts. Don't jump off the plane without a chute thinking that you can fly. No one can do all the above for you. You must get involved and be satisfied that you have done the best spade work possible. Only then, will you rest assured that your investment is an acceptable risk. Good luck
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Old January 24th, 2006, 04:42 PM   #219
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in looking for a broker, I think being a licensed broker should matter, this conveys that the broker is serious enough to know the rules and rudimentary details of the profession and not merely after a one-shot-deal. This means that she can back up her opinion with facts and she can answer basic questions like, "how much is the documentary stamp tax and transfer fees that I should pay upon purchase?" "how much capital gains tax do i have to pay if i want to resell my condo?" In choosing a broker, go for one who is knowledgeable not just about the condo or property you're interested in, but also well-informed on the market and competing condos. If your broker can give you the pros and cons of the property you're eyeing, this means that she's done her homework and is forthright enough to give you a balanced view.
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Old January 28th, 2006, 12:15 PM   #220
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considering the Columns Legazpi Village..

hi,
just found this forum and learned a lot of things about buying a condo in the Philippines! Thanks!

anyways, can anyone tell me about the Columns. hows the location? will it appreciate (the rep told me all Ayala land properties do)? hows transportation in that area?

all i want is a place in the city that'll allow me to access city sights, nightlife, and shopping. oh, and a view of some skyline. i stayed at the new world and they had such an awesome view of makati cbd that i'm hoping the columns (same street, just two blocks down) would offer me the same view.

how does all this compare to say, a place at the Fort or Ortigas or Eastwood? i'm a fan of the nightlife in all areas (Malate, QC, pasig, etc) not just the high-class nightlife of makati and greenbelt.

any input would be nice! thanks!
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