Bicutan , Paranaque City - Announcing a price reduction on Sunvalley, Paranaque, a 250 sq. m., 4 bath, 4 bdrm 3-level split. Now $146,000 USD - P7M Negotiable.
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Second Wave- Symposium on RESA Law set Sept. 3 The very first symposium on RESA Law sponsored by PAREB-Rizal Board of Realtors was so successful and well-attended despite the bad weather. More than 100 real estate practitioners and representatives of different developers came to participate. Our major speakers and panelists were Ms. Ching Agcaoili of the BLGF -Dept of Finance who played a major role for the speedy passage of the RESA Law. She also happened to be the sister of our MPLR Candidate Grace Agcaoili; another dynamic speaker and anti-colorum advocate who was also in the forefront with the technical committee when the bill is being discussed in the Senate was CPA-Realtor Pilar Banaag . Our third speaker was no less than the Secretary of the Professional Regulatory Boards of PRC, Atty. Carlos G. Almelor. Another panelist who gave spice and color in the symposium was the very controversial, Atty. Ernesto Villagarcia. Ms. Agcaoili discussed the history and reason behind the RESA law fast passage; CPA-Realtor Pilar Banaag stressed the effects of RESA law to the practitioners and Atty. Almelor discussed the procedure on how the real estate practitioners will be registered and accepted with the PRC being the newest professional board they will handle. There were tons of questions submitted by participants and everyone waited for the panelist for their questions to be answered that we had to extend the session for more than an hour. Many questions still left unanswered but we collated all their questions and promised to email the answers. At the same time, many questions have to wait for the formulation of the Implementing Rules and Regulations. We will also submit these questions to the committee who will formulate the IRR. After the symposium, we received many calls from those who did not make it because of the bad weather asking for the next schedule. With their insistence, we are holding another symposium on RESA Law on September 3, Thursday, 1- 5 pm at the Food Nation Restaurant, Upper Ground Floor, Madison Tower, Pioneer Highlands, Pioneer St., Mandaluyong City. We will be showing some video footages of the last symposium and provide participants the summary of the first symposium based on the lectures of our three main speakers , so that we can have more time for questions and answers, which our guest speaker, Realtor and Lawyer, Atty. Ariel M. Martinez, a most sought after speaker and lecturer on various real estate topics will ably discuss. For reservations and details, please contact RBR Secretariat through Realtor Nancy Tia at 792-7234 or Realtor Gigi F. Bonquin at 4013836.
During the symposium on RA 9646, better known as the RESA Law, CPA-Realtor Pilar Torres-Banaag stressed that developers are mandated by law to hire only duly licensed Real Estate Brokers. According to SEC. 32. of RA 9646 Corporate Practice of the Real Estate Service. –
(a) No partnership or corporation shall engage in the business of real estate service unless it is duly registered with the Securities and Exchange Commission (SEC), and the persons authorized to act for the partnership or corporation are all duly registered and licensed real estate brokers, appraisers or consultants, as the case may be. The partnership or corporation shall regularly submit a list of its real estate service practitioners to the Commission and to the SEC as part of its annual reportorial requirements. There shall at least be one (1) licensed real estate broker for every twenty (20) accredited salespersons.
(b) Divisions or departments of partnerships and corporations engaged in marketing or selling any real estate development project in the regular course of business must be headed by full-time registered and licensed real estate brokers.
(c) Branch offices of real estate brokers, appraisers or consultants must be manned by a duly licensed real estate broker, appraiser or consultant as the case may be.
In case of resignation or termination from employment of a real estate service practitioner, the same shall be reported by the employer to the Board within a period not to exceed fifteen (15) days from the date of effectivity of the resignation or termination.
Subject to the provisions of the Labor Code, a corporation or partnership may hire the services of registered and licensed real estate brokers, appraisers or consultants on commission basis to perform real estate services and the latter shall be deemed independent contractors and not employees of such corporations.
Any violation of this Act is fine and imprisonment with minimum fine of P100,000 or imprisonment or both as stated in ARTICLE V
PENAL AND FINAL PROVISIONS
SEC. 39. Penal Provisions, - Any violation of this Act, including violations of implementing rules and regulations, shall be meted the penalty of a fine of not less than One hundred thousand pesos (P100,000.00) or imprisonment of not less than two (2) years, or both such fine and imprisonment upon the discretion of the court. In case the violation is committed by an unlicensed real estate service practitioner, the penalty shall be double the aforesaid fine and imprisonment.
In case the violation is committed, by a partnership, corporation, association or any other juridical person, the partner, president, director or manager who has committed or consented to or knowingly tolerated such violation shall be held directly liable and responsible for the acts as principal or as a co-principal with the other participants, if any.
RA 9646 took effect last July 30, 2009 after 15 days from publication last July 15, 2009 at page B10 of Philippine Daily Inquirer.
The symposium was conducted by PAREB-Rizal Board of Realtors chaired by its SVP Realtor Gigi F. Bonquin. Among the speakers and panelists were Ms. Ching Q. Agcaoili of BLGF-DoF, Atty. Carlos G. Almelor of PRC, CPA-Realtor Pilar T. Banaag, Atty. Ed Villagarcia and PAREB National President Realtor Edmundo Aceron. The symposium was well-attended despite bad weather.
"Fairfield at Tagaytay Highlands" is:
* Located West of exisiting The Verandas subdivision and across the future Midlands Country Club and Sports Barn.
* Near the existing driving range area, which will eventually be part of the future 4th- 9hole of Tagaytay Midlands Golf course.
THEME: Contemporary American Suburban
FEATURES:
* Total number of lots is 115
* Only 16 Fairway lots available
* Total land area is approx. 8 hectares
* Separate Entrance from Verandas and The Parks at Saratoga Hills
* 8- meter Linear Park * 20 meter Tree-Lines Right of way road
* Last 4th 9-hole Golf Course will be lower than the subdivision
* Landscape will be inspired by the Contemporary Suburban American theme
* There will be tiled walkway that will connect the linear park to the open park
* With central open park (Block 5 of the subdivision)
* Total Saleable area is 54% and Open Space is 46% for parks, landscaped areas and open areas
* Setbacks : 3 Meters for the front and 2 meters for the back andsides
INDICATIVE PRICE :
* P10,000 base price/square meter (vat-ex plus premium) - for 1st 25lots (Tranche 1)
* P10,500 base price/square meter (vat-ex plus premium) - for 30 lots (Tranche 2)
* P11,000 base price/square meter (vat-ex plus premium) - for 30 lots (Tranche 3)
* P11,500 base price/square meter (vat-ex plus premium) - for 30 lots (Tranche 4)
* Premiums : +P150 for corner lots; +P500 for fairway lots; +P200 for garden (linear park); +P100 for open park)
* All Fairfield lots come with one proprietary TAGAYTAY MIDLANDS GOLF share.
PAYMENT TERMS : 3 Year - Installment, Interest- Free 10% Downpayment payable over 6 mos. 40% Balance over 36 mos 50% Balloon Outright Downpayment with 1.7% discount 10% Outright Downpayment 40% Balance over 36 mos 50% Balloon CASH with 10% discount 30% Outright Downpayment 70% Full Balance ( 30 days after downpayment)
For more details, email : gigibonquin@gmail.com or visit www.greenhuts.net
Symposium on RESA Law set Aug 7 PAREB-Rizal Board of Realtors will hold a symposium on the new law, RA 9646, better known as the Real Estate Service Act (RESA) law on Aug 7, 2009, 1-5 pm at the Valle Verde Country Club in Pasig City, beside ULTRA. Resource persons from PRC, Congress, Dept. of Finance and other government agencies involved in the implementation are invited to shed light on this new law which transfers the jurisdiction of real estate practitioners from DTI to PRC. At the same time, since this law now includes large fine and imprisonment to illegal practitioners, the symposium aims to clarify many vague provisions in the law from the mouths of its proponents. The symposium will also attempt to collate the many concerns of practitioners to be submitted to the board who will formulate the IRR for RA9646. This is the very first symposium to be held for RA9646. All concerned real estate practitioners : agents, brokers, appraisers, assessors and developers and its staff are encouraged to attend. For more details and seat reservation, please contact RBR Secretariat at (02)719-0736 look for Nancy or Gigi (401-3836) or Arnold (357-1513)
Only for the discriminating ones!
• 1,115 sq. m., 7 bath, 6 bdrm 3 story - $1,380,000 USD - P65M Negotiable
Tagaytay Highlands, Tagaytay - You will be captivated by this magnificent three level custom built estate of over 1,115 sq. meters, nestled on a premier oversized lot with an incredible view of the Midlands golf course as well as beautiful Taal Lake and picturesque volcano. This gorgeous home is brand new and has never been lived in. It is totally stunning in every respect and combines the best of four worlds, Luxury, Lifestyle, Relaxation, and Real Estate Value.
From the moment you enter the decorative marble foyer of this exquisite masterpiece, you are greeted with panoramic unobstructed views which can be enjoyed even more from three spacious decks that offer privacy and serenity. The home was designed with an open flowing concept and unique formal, yet functional architectural design that encompasses quality features and only the finest amenities. The thoughtful design creates luxurious space throughout in which to live, relax and entertain in style. It offers light and bright grand living and dining spaces, two well appointed kitchens, complete with top of the line appliances, including two wine coolers, and custom cherry wood cabinets in the formal kitchen with granite counter tops. Full house air conditioning is included. The family room includes a lovely fireplace to add to the elegant ambiance. A spectacular suspended spiral staircase leads to the upper level where one will find two huge master’s suites with the primary serving as a private retreat, complete with a Jacuzzi, his and her sinks, custom vanity, a sitting room and spacious walk in closet. Both master’s suites have access to a large private viewing deck and covered pergola for taking breakfast, tea, or an enjoyable afternoon glass of wine while listening to your favorite music and taking in nature at her finest. Or you can simply watch the golfers try for “a hole in one“. A third splendidly designed guest bedroom with private bath is also located on the upper level.
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Almost brand new! Improved unit
• 72 sq. m., 1 bath, 3 bdrm 2 story - $42,000 USD - P1.7M CASH ONLY
Sta Rosa Laguna, Metro Manila - WITH Sta. Rosa in Laguna emerging as one of the fastest growing and urbanizing centers in Southern Luzon, township developer Empire East Land Holdings Inc. expects residents of its landmark community project Laguna BelAir to reap the benefits of the town's rapid progress.
Dubbed as the country's "Little Detroit" due to the presence of major car manufacturers Ford, Toyota, Honda, Isuzu and Nissan, Sta. Rosa is expected to attract more investments once the new interchange at the South Luzon Expressway (SLEX) and the Biñan-Sta. Rosa circumferential road are completed, Empire East Land president Anthony Charlemagne Yu said in a press statement.
Sta. Rosa, which supplies half of the cars, buses and trucks sold and used in the country, was the biggest revenue earner in 2002 among the country's municipalities.
Contributing to the rapid growth and development of the area is the presence of the country's premier theme park Enchanted Kingdom, National Science Technology High School, leading economic zones Sta. Rosa Business Park and Laguna Technopark, commercial centers Robinsons Place Sta. Rosa and Waltermart and manufacturing firms led by Asia Brewery and Coca-Cola Philippines.
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This house is almost brand new, newly painted and renovated and additional improvements are placed to what was delivered by the developer.
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Note that this information is outdated.
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I found this article from one egroups where I belong. A very encouraging observation. Please read on
Why the Philippines is least affected?
BUSINESS & LEISUREÂ By Ray Butch Gamboa
Saturday, November 1, 2008
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At the recent successful launch of the 34th Philippine Business Conference & Expo, our business leaders exuded confidence. Guarded, yes, but the consensus seemed to be that the Philippines appears to be the least affected in the region by the growing global financial mess whose tentacles have reached prosperous countries with highly sophisticated banking systems.
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Just how insulated are we? These are perilous times indeed and no government can afford to blink in the face of this growing meltdown which many say will not spare any economy. So why do our business leaders say there is no need to panic because we are the least affected, and we are in fact insulated, at least for now?
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The reforms that the government initiated in the banking sector now clearly show how conservative policies can work well in the long run. The crash of the Thai baht during the Asian financial crisis (which miraculously saw the Philippines come out with just a few scratches compared to our Asean neighbors, thanks to a very timely and wise intervention by the Central Bank) over 10 years ago also had its roots in the construction and development boom. Back then, there was so much building going on in Thailand – subdivisions were sprouting like mushrooms, they were building country clubs and golf courses like mad in those days as part of their tourism boom. Like other parts of Asia, there was also a lot of bank lending to the real estate sector going on in the Philippines, but it was in Thailand that the crisis erupted. Financing with short- term money was just too extensive, and while the prices of real estate kept going up, this couldn’t be sustained
for too long. The structure had to come crashing down.
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Alarmed at what was happening to Thailand, other governments including the Philippines set up banking reforms which, in effect, limited the banks’ portfolio for real estate lending to a more conservative and manageable level and established a comfortable ceiling for collateral values to provide the necessary cushion in case of defaults. For any economist worth his salt, this is a simple, basic knee-jerk reaction which did not require a masteral stroke but it certainly worked well for us. It’s too simple that Americans overlooked it. Money in America was too easy, mortgage brokers and banks were making a lot of money on paper, no collaterals were required for new home owners, easy terms were hard to pass up. When the squeeze finally came, the ante was raised, the homeowners couldn’t meet their obligations, the banks had no collaterals to hold on to. These toxic loans were sold to other financing institutions and before the dam broke, there were
several dead or dying financial institutions that had to be bailed out by the US government. Other institutions were deemed too weak to be worth a rescue, among them Lehman Brothers.
Many countries in Europe were greatly affected because of their strong links to the US economy. As many of us know by now, Iceland’s government faces an imminent collapse. Spain’s banks invested too much in speculative derivatives, and their real estate sector has also crashed because of runaway rates.
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In Asia, fortunately, we have not felt the tremors as strongly. Singapore is also a heavy financial player and has suffered some repercussions in the market, but they have shored up their reserves over the last decade that they can absorb it well enough. Australia which is a producer of commodities is also now experiencing a slow down because of lower commodities prices.Â
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Malaysia is another country which seems to be insulated from the ongoing turmoil. For one, it is not export-oriented, and it has a healthy fuel reserve to rely on when the crunch comes. It is the export-oriented countries like Korea, China and Japan that are feeling the pinch now because of declining commodities prices. China exports heavily to the US, and with the American economy at an all-time low, the Chinese cannot expect to export substantially in the next couple of years. Chinese economy has slowed considerably in the third quarter, though still registering a nine percent growth. Still, they have had mass lay-offs. Some toy factories and food manufacturers have shut down, and Chinese products now have a tainted image. They are still lucky, though, because they have built up fantastic reserves over the years, like Korea and Japan. Japan, on the other hand, has been suffering from economic stagnation, but their deficit spending helped them ride it
out.
The Philippines has a relatively healthy export sector, according to PhilExport’s Sergio Luis-Ortiz. This year, they expect to meet their target of three to five percent, but they declined to make a forecast for next year. Traditionally, the electronics export is our biggest money- maker, and it is still the strongest up to now. They see a big change in habits of Americans now – more and more Americans will likely stay home and avoid spending, so more entertainment products, electronic games, etc will be produced, giving another boost to our electronic exports.
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Our agricultural products are still very much in demand, so one of the points raised in the 34th PBC is the need to increase our agricultural production, particularly rice and our biggest sellers like bananas and mangoes. Our service sector (BPOs, call centers, etc.) will continue to be in demand and will likely retain its standing if we do not renege on the standards we have established which currently meet global standards.
Â
At the moment, however, what is clearly emerging as the sunshine industry to watch is our mining ore export. This could very well replace our electronics export if fully explored. Such is the potential of our local mining industry. We just hope we have the right legislative measures in place and vigilantly implemented for responsible mining of our resources, tight controls at our ports of exit to avoid unauthorized export of these resources, and the right programs for sustainable development of this potentially rich industry. Of course, it goes without saying that there are moral obligations to uphold - one is to the environment, and another is to the host town or province where the mining site is. Many of these are in ancestral lands where the natives suddenly find themselves disenfranchised. The government, and the mining companies involved, should protect their rights as well.
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* * *
Mabuhay!!! Be proud to be Filipino.
For comments: (e-mail) businessleisure- star@stv. com.ph
Don Bosco, Paranaque City - Urgent for sale!! Owner leaving! Don Bosco Village, Better Living, Paranaque, a 201 sq. m. lot / land. Now $22,000 USD - P5,000/sqm Rush sale.
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49 Taal Circle
Lakeview Heights
Tagaytay Highlands
You will be captivated by this magnificent three level custom built estate of over 1,115 sq. meters, nestled on a premier oversized lot with an incredible view of the Midlands golf course as well as beautiful Taal Lake and picturesque volcano. This gorgeous home is brand new and has never been lived in. It is totally stunning in every respect and combines the best of four worlds, Luxury, Lifestyle, Relaxation, and Real Estate Value.
From the moment you enter the decorative marble foyer of this exquisite masterpiece, you are greeted with panoramic unobstructed views which can be enjoyed even more from three spacious decks that offer privacy and serenity. The home was designed with an open flowing concept and unique formal, yet functional architectural design that encompasses quality features and only the finest amenities. The thoughtful design creates luxurious space throughout in which to live, relax and entertain in style. It offers light and bright grand living and dining spaces, two well appointed kitchens, complete with top of the line appliances, including two wine coolers, and custom cherry wood cabinets in the formal kitchen with granite counter tops. Full house air conditioning is included. The family room includes a lovely fireplace to add to the elegant ambiance. A spectacular suspended spiral staircase leads to the upper level where one will find two huge master’s suites with the primary serving as a private retreat, complete with a Jacuzzi, his and her sinks, custom vanity, a sitting room and spacious walk in closet. Both master’s suites have access to a large private viewing deck and covered pergola for taking breakfast, tea, or an enjoyable afternoon glass of wine while listening to your favorite music and taking in nature at her finest. Or you can simply watch the golfers try for “a hole in one“. A third splendidly designed guest bedroom with private bath is also located on the upper level. Three additional flexible use bedrooms are located in the lower level for additional guests. The lower level also boasts a huge state of the art, acoustically enhanced, home theater with built in cabinets and set up for 7.1 surround sound, wide screen TV viewing and/or high tech projector capability. Wine connoisseurs will love the awesome walk in wine cellar with a separate wine tasting wet bar and conversation area. A dramatic second wet bar is located in the spacious recreation room which is ample enough to accommodate even the largest family gatherings. Guests will be further entertained and intrigued when they step out onto the lower level patio to the ambient sounds of flowing water from the dazzling illuminated water fall.
For those interested in remaining physically fit, this home includes a gym and an adjoining room for a sauna/steam bath, and shower.
Landscaping has been tastefully completed with mature plants, flowers and trees.
A special energy and cost saving feature of this truly remarkable home is the “state of the art” solar hot water system which speaks for itself as well as the environment.
This home is a must see with many more wonderful features too numerous to mention. Only for those with the most discriminating tastes. Allow yourself to be dazzled!
For photos of this magnificent home: click here
Fully developed! Complete amenities
• 180 sq. m., 3 bath lot / land - $23,000 USD - P5,800/sqm
La Prairie Tagaytay, Tagaytay - LA PRAIRE
Come and be a part of this country community in the foggy hills of Tagaytay, Philippines. Explore the secured and peaceful surroundings. Make it your HOME.
La Prairie is a quiet and peaceful neighborhood along the Tagaytay-Nasugbu Highway, one kilometer after the Radar of Tagaytay City. A one hour drive from Manila.
It's the perfect place to retire in Tagaytay. The right choice to invest. The most likely choice to enjoy the cool Tagaytay weather. A great way to enjoy your days away from the stressful life from work or Manila life. A great place to bond with your loved ones.
Term is 30% DP and balance payable through in-house financing
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Sta. Rosa, Laguna - We invite everyone to visit our open house at Pramana, Greenfield City, Sta. Rosa on September 14 from 9:00 AM to 5:00 PM.
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Sta. Rosa, Laguna - We invite everyone to visit our open house at Chateau de Paris South Forbes golf City on August 31 from 9:00 AM to 5:00 PM.
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Tokyo Mansions, South Forbes Golf City - We invite everyone to visit our open house at Meiji Model, Tokyo Mansions, South Forbes Golf City on August 31 from 9:00 AM to 5:00 PM.
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