What You Need To Know About Real Estate

 Cebu Real Estate News, Real Estate FAQ, Real Estate Guide & Tips  Comments Off on What You Need To Know About Real Estate
Sep 202014
 

Tips On Successful Real Estate Investing

Tips On Real Estate Investing

Tips On Real Estate Investing

Whether you are a first-time home buyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing time frame?

Here are some real estate tips from Warren Buffett, the third richest human being on the planet, who spun quite a bit of wisdom on real estate.

1. Homes Increase In Value Over Time

“It’s a totally sound premise that houses will become worth more over time because the dollar becomes worth less,” Buffett declared.

Home ownership is asking the following questions :

Are you ready? Do you know what you want? Do You Have The Money? Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front.

2. Buy Low (And Now Would Be a Good Time for That)

For many investors while buying low and selling high sounds great in theory, in practice it’s hard to implement. How does one know when an asset is priced cheaply? It’s not easy to know when assets are trading at bargain basement levels. But sometimes, knowing that something has dropped a lot is enough to make it a good investment.

3. Don’t Wait Too Long To Take Advantage of Low Prices

Pre selling stage, Is this a good time to buy your first home? It depends on whom you ask.

Do you have a stable job you expect to keep? Do you have money saved for a down payment and repairs? Are you likely to stay in the house at least five years? If you’re living in a one-bedroom apartment and expecting your second child, this may be an excellent time to buy a house, before you lose your mind unless the circumstances of your life and of your community make renting a better bet.

4. Important elements to look for in real estate investing

Searching for a new home to buy including all factors in buying a home in a different place is sometimes tiring. You are not only to focus on the home structure itself but as well to the location and the establishments nearby.

Time and time once again, the leading 3 requirements with the household purchasing procedure arrives again to area, place, and location. You must consider the following factors :

  • Net to Seller. Forget price. Don’t get hung up on price. What really matters is, according to the terms of the offer how much are you going to net. Many offers include the sellers paying all or part of the buyers closing cost. Every offer should be evaluated in terms of the net amount the seller is going to receive against the current market conditions and comprehensive analysis of the house against comparable properties.
  • Timing. Does the buyers offer fit well with the sellers parameters for timing. Timing is part of evaluating offers that many buyers and sellers don’t consider strongly enough, or in some cases may let a good offer fly bye because they will not consider.
  • Risk. Is the offer loaded with contingencies for every aspect of the prospective buyers purchase or has the buyer done their homework and answered many of their questions in advance of making the offer? Many factors enter into the risk assessment, including how hot is the property in the market place? In a buyers market, an offer in hand, maybe worth a little more risk than not having any offer at all.

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Megaworld Corporation Develop Mactan Newtown Commercial Complex in Lapu lapu Mactan Island

 Cebu Real Estate News  Comments Off on Megaworld Corporation Develop Mactan Newtown Commercial Complex in Lapu lapu Mactan Island
Nov 032012
 

Mactan Newtown Center Newly Developed Project Of Megaworld Corporation

A new town is rising on Mactan Island, Cebu.

Mactan New Town Location : Brgy, Mactan, Quezon National Highway, Lapu lapu City

Mactan Newtown, a commercial mixed-use complex on a 16-hectare property in Brgy. Mactan, Lapu-Lapu City, is the biggest project in the Visayas of giant property developer Megaworld Corporation. It will be home to luxury residential condominiums, BPO offices, retail shops, entertainment and leisure establishments, a wellness facility and a boutique hotel.

Megaworld Corporation intends to bring the Eastwood City experience to Mactan island, a major tourist destination that is known for its beaches and resorts. Eastwood City in Libis, Quezon City is considered the country’s first IT park and Megaworld’s first masterplanned township development in the country. It features 17 high-rise residential towers, 10 office buildings and 65,000 square meters of retail space.

Megaworld is one of the country’s leading residential condominium developers and providers of business process outsourcing offices. Aside from Eastwood, its projects include McKinley Hill in Taguig City and Newport City in Pasay City.

Development of Mactan Newtown has started.

A five-story BPO-ready building called One World Center was completed in May, said Virgilio Carsido Jr., Megaworld vice president Visayas operations.

Construction of another five-story BPO-ready building called Two World Center will start this month. Both buildings will have retail components. Megaworld will put up a terminal for public utility vehicles and is negotiating with the Lapu-Lapu city government for the widening of roads leading to Mactan Newtown.

Mactan Newtown will also host 8 Newtown Boulevard, which will house four residential towers with a total of 716 units. The company said construction started in January and it will be completed in three years. Three of these towers have been blocked off for young Japanese retirees, said Maricor Manlangit, Megaworld first vice president strategic planning division. She said the other tower with 180 units is allotted for the local market. Each unit, which have an average floor area of 40 to 50 square meters, will cost from P4 million to P5 million at P100,000 per sqm.

Megaworld also plans to put up another cluster of four condominium towers and a BPO building called One Pacific Residences. She said the three towers will have a total of 537 units. Like the 8 Newtown Boulevard, Manlangit said two of these towers have been blocked off for the Japanese retirees while the other is for the local market. At least P10 billion will be poured into the Mactan Newtown project, which will be completed in five years.

Megaworld expects to generate about 40,000 jobs for the 25,000 office and BPO seats that the developer will build inside the township. It will also boost tourism in Lapu-Lapu as Megaworld intends to make Mactan Newtown the new destination on the island with its retail shops as well as entertainment and leisure amenities.

Megaworld bought the 16-hectare property near Shangri-La’s Mactan Island Resort and Spa in 1995 since at that time, Cebu was enjoying a boom in the real estate industry. Development on the property was put on hold, however, due to the Asian economic crisis in 1997. Hernandez said Megaworld started land development in 2007 and constructed its first BPO building.

He said Megaworld decided to resume development because a study on the Cebu market showed a boom in the real estate industry given the good takeup of units, said Manlangit.

“You can actually see that with all the condominium buildings being constructed here now and the number of independent developers getting into the market”he said. Our entry here is a matter of timing and now is the best time to be doing something big here” Hernandez said.

Reference:

Daily Inquirer Visayas by Connie E. Fernandez June 30, 2012

Mactan Newtown Center Newly Developed Project Of Megaworld Corporation