Philippines could be next property what!?

Philippines could be next property what!?

Once again the real problems are not discussed. While 60/40 and such prohibitions stop foreign investment, the shoddy building construction from nearly all developers/builders is now being discussed around the world as well as lies in the ads everyone has been hit with which are prohibited by Presidential Decree 957. Nearly all the major developers/builders are no longer fully trusted.

http://www.bworldonline.com/content.php?section=TopStory&title=philippines-could-be-next-property-&145blockbuster&8217&id=117439

Elevators: Entrances' Restoration & Mechanical Operation

Elevators:  Entrances' Restoration & Mechanical Operation

The entrances on all floors I have seen from the demolition in trying to fix these awful elevators has been rotten.  I have posted many photos and many more to come.  The restoration is unacceptable and needs to be done over so that the entrances are restored back to the way they were in 2009.  

Here are some photos of a current restoration in progress.  Based upon the past, what hope is there?  There were also spots on the floor.  Why are drop cloths or plastic not used?  The elevator lights are never sealed and covered just making a mess with attempts to fully clean and restore them leaving an awful look.

As far as the operation of the elevators, just ride on elevators elsewhere and compare.  The doors do not close smoothly with noises and scratches, there seems to be a hesitation in opening and closing in some doors, the ride is not smooth, buttons have problems...  For those riding them you know the experience.  

We bought into a building that was supposed to have elevators expected to function and look well.  That is not what we got and is not what is being experienced.

Maceda Law ("Realty Installment Buyer Act")

Maceda Law ("Realty Installment Buyer Act")

PLEASE SPREAD THIS MESSAGE TO OTHERS.

This law helps those wanting to get rid of their condominium unit.  I was just told that a new condominium building nearby with fewer problems for now has many units up for sale after its recent turnover last year.  I wondered what the reasons were and was told by a broker that many living abroad want to get rid of their units since they do no see the Philippines getting any better and they see the investment declining.  Yes, and now they cannot all sell their units for what they paid.

So best for many to look into the Maceda Law as compared to reselling to see which option is best.  Here are a couple of websites, so please search for more information.

http://www.lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html

http://archive.sunstar.com.ph/baguio/opinion/2014/09/28/capili-realty-installment-buyers-rights-368038

Passenger Elevator 5 (PE5): Lights on, lights off

Passenger Elevator 5 (PE5):  Lights on, lights off

Below the eighth floor, at least, when letting off passengers the button lights turn off when the doors close.  So the buttons have to be pressed again.  I wonder if they can get a device such as the old clapper device from the 80s re-engineered for such DEFECTIVE elevators?

Whoa, ACE and TrueValue?  I wonder if they carry it here for the engineers to work on.

Repair work on the elevators

Repair work on the elevators

Here is a video clip so all may enjoy the periodic noise volume and sound of which changes as we venture through the example of what Hell must have as a joy.  This is being taken looking down the Shaw Tower towards the elevator lobby area.

This noise seems to be from the last elevator whose entrance is now being demolished. So now we will have a full set of slum elevator entrances as seen when they are poorly restored.

No we are not in war zone and Godzilla is not attacking.  These are the sounds of no silence and no peace in a building we were not promised.

Elevators: The current focus of decline

Elevators:  The current focus of decline

Yes, the DEFECTIVE budding labels are still around with this one from early in the past weekend.  Now we hear more of the periodic unending noise of the elevator disaster being worked on dare I say repaired.  This building is a mess and has not gotten any better.

It also reminds me of the MRT where ridiculous matters are given greater priority than are critical important matters.  The almost total lack of transparency and open records for "members" (Unit Owners) of the condominium corporation is among other serious issues.

For those that know the MRT here is one item I had written about that disaster. Now think about our building and all the problems and issues in comparison.

MRT Watch: Beep diversion

Yes, everyone watch the bouncing ball and ignore the priorities. What priorities? How about:
- Fixing the trains
- Fixing the escalators
- Repairing the stairs
- Maintaining the tracks
- Maintaining and repairing the rest of the infrastructure
- Oh, getting the security to control the crowds
So now the Beep cards which are a waste of money compared to the real priorities are here. Is this going to be like the raising of fares with service quality declining?  Of course, since the card costs 20 pesos unlike the former stored value cards which were free.  Yes, 20 pesos for a piece of plastic.

Conditions will impact condominiums

Conditions will impact condominiums

Philippines to Lose Jobs and Business to Thailand and Vietnam As Companies Leave China - http://philippineslifestyle.com/blog/2015/10/20/philippines-to-lose-jobs-and-business-to-thailand-and-vietnam-as-companies-leave-china/

"The report also noted that the Philippines has one major negative, it’s business environment – noting it as a “Key Issue” when looking at moving a business to another country nearest to China.

“Philippines, Indonesia, Cambodia and Laos under-perform China, in terms of ease of doing business and control of corruption. In turn, Malaysia, Brunei, Thailand and Vietnam are doing better than China,” the report noted.

“The Philippines fares well on some key indicators but not on the business environment, which is of course very important. The fact that the Philippines manufacturing sector (mainly semiconductors) has been losing steam during years does not bode well for the future,” Natixis added.

Telecommunication, transport, power and water infrastructure in the Philippines also fell short compared with those in Thailand and Vietnam, the report noted.

The reports sums up the ideal that Vietnam and Thailand are highly attractive for those looking to relocate, and not the Philippines."

Another Fantasy article on condos

Another Fantasy article on condos

Why Rentals In The Philippines Make Attractive Investments (?) - http://www.imoney.ph/articles/why-rentals-in-the-philippines-make-attractive-investments/?utm_source=taboola&utm_medium=paid-content

If you want to know about the real facts behind the condominium boom in the Philippines and the many stories that give just the tip of the sad iceberg, then contact those with condo units and they will tell the vast problems. High demand for condos not now since there is a glut and current unit owners are on the losing side. There is not a high occupancy rate as many buildings have large percentages of vacant units waiting for a price to cover the costs to the unit owners who have been duped. Prices may be affordable for the property but what is to be gained? Not much unless as one friend who buys only at fire sale prices would tell you. He says he must buy at that level or he could not stay in business. Run those numbers on not just the price to buy with all associated expenses but the "association dues" and all other charges many condominium buildings now feel with many if not most with Boards that are not elected and with Master Deeds and By-Laws that are unfriendly to Unit Owners at best.

I have not told a friend who is a broker/caretaker for many units in Metro Manila about the section "High rental yield" but I can hear her laughing now. The section "Growth potential as more tourists opt for budget, or cultural accommodations" has one key word to focus on and that is "potential." Ask where and ask for proof. As for the "Cons" in the article, where is this recovery? The glut is here and there is no recovery. There are several articles in this blog about the industry and there was one series that should make those considering fear until all their questions are answered. http://www.sohocentralcondominium.blogspot.com/ - See Sept. 2014 "Is the real estate bubble about to burst?" and the Special Reports. 

There were so many lies in advertising, the housing department Board had to reinforce Presidential Decree 957 with HLURB Board Resolution 921 and now there are calls to end that since the truth does lower sales. Yes, the almighty truth.

Window sills

Window sills

Why are the insides and outsides used for garbage placement and the outside used as an ashtray?  Would someone please explain after questioning the filthy ones who do this to our building assisting in turning it into a slum.

Please help and tell those you witness doing such things to stop such actions asking them who they are then reporting them.

Elevators: DEFECTIVE

Elevators:  DEFECTIVE

It is almost as if the DEFECTIVE labels are like budding mushrooms from decaying matter.

Helpful Hints: Aerators

Helpful Hints:  Aerators

I had written about these before and we just got our supply from the Home Depot in the US via someone visiting.  The Home Depot there and here in the Philippines are not related.

My kit with supplies from old aerators that were replaced with cheap replacements sold here plus toothbrush to clean slime buildup on the screens plus an example of the cheap quality inner part that deteriorated and five of the new ones we just received both male (threads outside) and female (threads inside).

I will keep the extra parts even though the new ones say self-cleaning in case friends need theirs fixed.  See the gap on the inner holder for the screens and aerating plastic?  It has a gap since they fall apart due to the metal being so thin and cheap.  Not sure if the water is also a cause.

I would suggest getting a few of each when back in the US and Canada.  The supply here never seems to have the male which fixtures in the bathroom tend to use and the ones that do arrive are plastic.  These are metal, chrome plated and self cleaning.

 

 

 

 

Quite a review of the Trump building in Panama

Quite a review of the Trump building in Panama

He sells his name to entice here. This false impression brings up many thoughts and adjectives and nouns and verbs to think about surrounding such an action.

http://news.yahoo.com/condo-owners-panama-tell-trump-youre-fired-123739798--finance.html

Elevators: Odor

Elevators:  Odor

Did anyone else experience the burn odor in an elevator?

Soho Central Selling:

Soho Central Selling:

We were just told last night that a unit owner was asking 1.9 million pesos for a one bedroom unit. Hello, owners we are in serious trouble.

Elevators: Button issue not gone

Elevators:  Button issue not gone

Yep, not gotten any better over the last year.

The New Noise

The New Noise

Has anyone heard the new noise which is now taking place for the second day? I was told it was from Unilab checking air pressure. Never took place before in the nearly five years we have been here.

Elevators: Service Elevator

Elevators: Service Elevator

The Service Elevator down button which does not light was pressed. Then the green up light turned on eventually with the ding sound but the door did not open. I pressed the down button again and nothing changed until the red down light turned on with the ding. Those in the elevator did not experience any problems inside.

Elevators: Stuck in elevator

A woman was heard complaining about being stuck in an elevator. Has anyone heard of recent incidents?

Noise Outside the building

Noise Outside the building

I have heard that there are complaints made to the management about noise outside the building and those complaints are not about the traffic noise. Perhaps filing official complaints on the noise with the barangay is in order naming that or those parties outside the building. Let the government know with complaints.

If there is no resolution or acceptance of the ruling then a court action may be made, I believe.