As soon as people back home knew I was working abroad, I was treated like a goose that lays golden eggs. That was something I realized that most OFWs felt. Everybody was selling me or asking me to buy something. I tried to keep my head straight by focusing on investments off the bat. This is something I knew would ensure that all the hard work in the middle of the desert will not be wasted. Buying land or real estate in the Philippines appealed to me most because it’s practical and sensible. Like all investments, it takes a lot of smarts to make sure that money and time is not wasted. From my experienced I realized a few important things when buying real estate which you may find useful.
Condo living at best is like living in a resort or hotel. That’s what most developers guarantee. It should not be a “too good to be true” proposition. The condo that I bought has delivered on their promise. We just have to be smart in making choices. I’d heard from well-intended brokers, read from news articles but nothing substitutes for experience. Hopefully you could get the same good results by keeping these things in mind:
1) It’s all about convenience.
The list can stop right here. Everything should be dictated by convenience. It is the main thrust of condo-living. A lifestyle fit to who you are. List down what your priorities are. If you’re single, it’s a little easier to define. If you have a family, you have to check out if are there any good school near the area. Are you going to swim as often as you think you will? Are you going to the gym as often? In the end, you’ll be spending most of your time inside your space, which leads us to #2. Read more
If somebody sells you real estate in the Philippines, and the offer is too good to be true, then maybe it is a scam.
According to CoreLogic, there has been a 20% increase in mortgage fraud with an approximate value of US$12 billion during 2010, with 1 for every 52 short sale transactions considered suspicious. It doesn’t pay to be a skeptic. Real estate fraud types are becoming increasingly well hidden and complex, gone are the days of mere misrepresentation of information, now they’re using technicalities to take advantage of you.
Here are some of the scams they’re doing:
1. Flopping – somebody buys a property from an owner possibly facing foreclosure for a value below what that owner owes the bank. Then the owner convinces the bank to short sale the property which the bank approves, since it will be less costly for them than go through the foreclosure process. The new owner then will sell that property to another buyer at a higher price, turning a profit. Usually the new and original owner are parties to this scam. Read more
Imagine waking up in the morning with a work deadline hanging over your head. Your boss just called you last night, asking you to report for work at a time earlier than your scheduled shift. Just as anyone who wants to impress the boss, so you step up to the plate by waking up early and preparing yourself before Tracy Turnblad could sing, “Good morning, Baltimore!”
But the thing is, you live outside the city where you work and it takes you about an hour-and-a-half to get there. You’ve managed to get there just on-time.
This continues on for weeks until you get this little voice on your head, telling you that getting to work gets a tad bit tiring with the amount of time you spend traveling because of the distance and the horrible traffic to get from your house to public transport pick up points and vise versa.
Social networking sites help sell. Or at least provide better chances of selling.
The number of US real estate businesses that adopted social media marketing initiatives has doubled from 12 % to 24% in a period of one year, according a study conducted by the Institution of Maryland’s Smith School of Business. These businesses have recognized how social networking sites revolutionized the real estate industry not just by driving traffic but also helping establish connections to new prospects effectively and efficiently. Some of these potential clients may later evolve into buyers.
Here are some of the most important benefits of adopting social network advertising: