Huwebes, Enero 12, 2012

THE KING PROPERTIES

The event started with the blessing of Villa Solana Consolacion's newly completed Gazebo.  It was then followed by the Induction of the 2011-2012  Homeowner's Association Officers with the presence of Mr. Jason A. King, one of the directors of Juanito King & Sons, Inc.  Management and operation of the subdivision commence on January 2012 handled by the Villa Solana 

Homeowners Association, Inc. (VSHAI) 2011-2012 Officers. The Housing Market - Where We Stand Now - Monday, 23 January 2012 - 11:46am After a few years of depressing information out of the U.S. housing market, this month’s data continues to be mixed. Is recovery truly in the works? Here’s what the numbers say Foreclosures According to numbers from real estate data firm Realty Trac, foreclosures in January were down, the second consecutive monthly drop. 

The national foreclosure rate fell to one in every 409 U.S. households, representing a ten percent decline from December Realty Trac’s executive was not convinced this is a true sign of recovery though.

"January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a ten percent drop in January," James J. Saccacio, chief executive officer of RealtyTrac, said in a statement."If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works,"

He said The states still getting hit hardest by foreclosures are Nevada, Arizona, California, Florida, Utah, Idaho, Michigan, Illinois, Oregon, and Georgia.Home Sales Existing home sales were down again in January, falling 7.2 percent from December, based on data from the National Association of Realtors. According to the Census Bureau, new home sales hit an all-time record low in January, plummeting 11.2 percent to a seasonally adjusted annual pace of 309,000 units. 

That is the lowest rate of sales on record. Foreclosed homes and short sales continue to attract more buyers than the higher prices of new homes. Fannie MaeThe government-sponsored entity, which has been under government control since September 2008, recently announced it will need another $15.3 billion in bail out money from taxpayers. Fannie Mae, one of the largest mortgage finance companies in the country, had $216.5 billion worth of non-performing, toxic loans on its books as of December and just reported total 2009 losses of $74.4 billion dollars.

Fannie and Freddie Mac, the other mortgage GSE , have been instruments in getting bad loans out of the investment markets, but apparently couldn’t take on the nation’s problems without eventually dealing with them as well. Interest Rates Mortgage rates stayed low for the entire month of February, but there is plenty of talk as to what will happen after the Federal Reserve stops buying up mortgage-backed securities at the end of March. Most say the laws of supply and demand suggest rates will rise, perhaps by a half to a full percent. Yet, based on recent statements by officials, there is reason to believe the Fed and the Obama  Administration are perfectly willing and ready to step back in to aid the housing market if rates do start to rise, which would in turn bring lower rates again While no one is ready to say the housing market is back to normal, things are at least better than they have been during some periods over the past two years. 

The question is whether they will continue to improve or head south again.

Property firm to build 500 houses in Cebu

A LOCAL real estate developer is aiming to add at least 500 residential units in Cebu in the next two years as it introduced its third house and lot project in Minglanilla town in southern Cebu.

Arli T. Arenas-Vergara, sales and marketing head of Paramount Property Ventures, said the Minglanilla project called the Vizkaya Zen Residences, would be part of the firm’s expansion plans for Cebu.
Vergara said the firm was very confident of the Cebu market based in its experience with its three past projects – Coral Bay, Fonte di Versailes, and Mazari Cove.

“Our Coral Bay project with 74 units is sold out, Fonte de Versailes has 232 units and about 65 percent of that is sold while our Mazari Cove with 400 units is 80 percent sold out,” she said.
Their new project called Vizkaya Zen Residences will have 121 units located in a 2.2 hectare property in Calajaan, Minglanilla, Cebu.

“All our existing projects are located in Naga and Minglanilla which are south of Cebu because the owners are from Minglanilla and they are also very confident about the prospects of developing projects in the area because of the South Road Property,” she said.

Vizcaya Zen Residences will be the first residential project in Cebu that will feature a Basic Intrusion Alarm System provided by SSMI or Security and Systems Monitoring, Inc.

“With this project we hope to attract the higher middle class market,” she said.
The firm is also targeting expats, foreign nationals and overseas Filipino workers for their three project in Cebu.

Mar Relampagos, a company official, said the Cebu real estate industry was expected to continue growing with more players coming in to introduce their products to the Cebuano market.

“Based on the data from HLURB (Housing and Land Use Regulatory Board) there are about 45 more projects applying for permits here in Cebu, which only shows how confident developers are about the market,” Relampagos said.

He said this was the reason for the expansion of 500 residential units on top of the 1,000 units provided by its three other projects.

Roy Vincent Lumayag, another company official, said they were studying plans to go into the condominium market.

“We are still looking at the plans and negotiating with land owners as of this time but we will definitely go into vertical projects perhaps in 2013,” said Lumayag.

The firm also plans to expand outside Cebu particulary in Bohol and Davao, which have growing real estate markets.

“While Cebu remains an attractive market to tap, we thought that we can also start expanding outside to also offer our products to the huge and still untapped market in these areas,” Lumayag said.

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H&R PROPERTIES DEVELOPMENT CORP.

Cebu Province

The province is a narrow strip of land, approximately 200 km long and 40 km across at its longest and widest points, respectively. It's backbone is made up of rugged mountains rising to 1013 meters in the center. Narrow plains can be found along the islands´ coastline. Smaller islands surround the mainland. It is located in Central Visayas, which is in the center of the Philippine archipelago. It is bounded by the Visayan Sea in the north; Camotes Sea in the east; Tanon Strait in the west; and Bohol Strait in the southeast. Cebu’s weather promises to be good for business because typhoon activities are minor and rainfall is evenly distributed throughout the year. Moreover, the island is not located within any earthquake belt, there is no known active volcano.

Cebu Province has 6 cities; Cebu, Danao, Lapu-Lapu, Mandaue, Toledo and Talisay and 47 smaller towns. In contrast to the bustling metropolis, the rest of Cebu's 167 islets and islands are lined with idyllic white sandy beaches and pristine clear waters. Cebu City is the capital of Cebu. Often called the “Queen City of the South” and the Seat of Christianity in the Philippines, Cebu is the country's oldest city. It is where you can find Colon, the first and oldest street in the whole country which used to be the center of trade and industry during the pre-colonial days.

A Brief History

Cebu, also known as Sugbu, was already a prosperous settlement before the Spaniards came in 1521. On April 14, 1521, 800 natives were baptized during the first Mass in Cebu, including the chieftain and his wife. Thirteen days later, Ferdinand Magellan died in the battle against Lapu-Lapu, a native chieftain, in Mactan, an island off the coast of Cebu.
The first permanent Spanish settlement in the Philippines, it was founded in 1565 as San Miguel by Miguel López de Legaspi; it was capital of the Spanish colony until 1571. On January 1, 1571, the present city of Cebu was founded, changing its former name of San Miguel to La Villa del Santissimo Nombre de Jesus. The province of Cebu was created on March 10, 1917.
As a major Japanese base in World War II, it was largely destroyed by U.S. bombs. It has been rebuilt and today is a charming mixture of old and new, East and West. A Roman Catholic archdiocese, it has a bishop's palace, a cathedral. The Sto. Niño Church houses the jewel-encrusted gold statue of the Holy Child, given by Magellan to King Jumabon and Queen Juana.

The People

Cebuanos are extremely proud of their cultural and historical heritage. The Cebuano dialect is the main language used. While Filipino is commonly understood and spoken, the English language is widely used in business transactions and education. Cebu Province has a total population of more than 3 million.

Commerce and Industry

It is not just a promise or potential, Cebu demonstrated its capability with an excellent economic track record. It is the second largest city and fastest growing economy in the Philippines.
Cebu grows coconut, sugarcane, abaca, bananas, tobacco and rootcrops, but the main agricultural product grown is corn. The province is also popular for its grapes, mangoes, and cut flowers.

The island is rich in mineral resources. One of the biggest copper mines in Asia is in Toledo City. Other deposits include gold, silver, iron and coal.

Industries include the production of cement, fertilizer, paper, coconut oil and beer. The province of Cebu is especially well known because of the production of locally handmade acoustic guitars, bandurrias (Filipino mandolins), banjos and ukuleles. Already for generations the Cebuanos have been making quality guitars. The guitar makers are considered to be among the world's finest craftsmen. Mactan island, is the center of Cebu's guitar-making industry. Handicrafts made of bamboo, wood, and shells can also be found. The products find their destination in shops on the national market as well as via export in shops in foreign countries.
The relevance of foreign investors in the export-industries in Cebu City (and Mactan island) is evident.  The MEPZ (Mactan Economic Processing Zone) industrial park is the site of big foreign as well as local companies. On the top of the list of relevant export products in this region are semiconductors, electronic watches, electrical equipment, cameras and furniture. The largest foreign markets are the USA and Japan. Outside Metro Manila, Metro Cebu is considered as the largest and most progressive urban center in the country. The development of its infrastructure is balanced; it has all the ingredients necessary to be competitive and sustain investments. It is a cosmopolitan with all the support facilities and amenities needed for an ideal lifestyle It is the most accessible place in the Philippines, with more domestic air and sea linkages than Manila.

Cebu is base to over 80% of inter-island shipping capacity in the Philippines.
 Cebu is the Tourism Gateway for the Central and Southern Philippines.

Money

The Philippine currency is peso, divided into 100 centavos. Next to the peso, the US dollar enjoys wide acceptance. Most foreign currencies can easily be changed at banks, hotels, and authorized dealers. Foreign currency is not readily taken by the establishments in Cebu. Major foreign credit cards may be accepted only at major hotels, resorts, shops and restaurants. Visitors are advised to bring sufficient amount of change in small bills or coins.

Getting There and Away

Boats and fast ferries travel to and from Cebu on almost all neighboring island provinces several times a week. The Mactan International Airport is the nation’s second largest airport and accommodates domestic and international flights that connect the island to several continents. Many tourists from abroad will directly fly to Cebu's airport. From Cebu they spread out by boat to the many islands in the Visayas or they stay on Cebu island. 
Getting around Cebu one may take a colorful jeepney or a bus at a minimal fare. Tricycles (motorcycles with sidecars) are popular in outlaying areas and in the suburbs, quiet notably within Mactan Island. Taxicabs are widely available.

Life & Tourism

Cebu ranked no. 4 among Asian island destinations, according to Travel + Leisure magazine, which recently released the results of its World’s Best Awards 2009, a listing of the best hotels, airlines, cruises in islands and cities all over the world.

On Mactan island, tourism is well developed. Many dive centres and dive resorts (more than 75) arrange day excursions and diving safaris to the surrounding dive sites. Not only in the nearby waters, but especially to the nearby small islands, Cebu became the country's top tourist destination. Foreign as well as local tourists have countless choices on what to do and what to see in Cebu from soaking in on fine white-sand beaches and fantastic dive spots or getting into any sort of exciting water sports like parasailing, jet skiing, to name a few, or land adventures like trekking, or visiting local industries, to dining in and shopping on world-class malls, or tracing the province and city’s Spanish and religious past, to celebrating its festivities, or simply discovering the local’s way of life.

Cebu has one of the best records for peace and order in the country.