Senator Maceda and the "Maceda Law"

Senator Maceda and the "Maceda Law"

It is now being reported that "Ex-Sen. Maceda clinically dead a week after stroke" in the Manila Bulletin though a gall bladder operation is also reported. Earlier the death of the senator due to newspaper reports was reported but those reports from the papers were in error.  He gave the nation the significant Maceda Law regarding property which some developers are not respecting or implementing properly when approached by buyers.

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Defaulting Payments – Know Your Rights under Republic Act 6552 (Maceda Law)

http://philpropertyexpert.com/defaulting-payments-know-your-rights-under-republic-act-6552/

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The Maceda Law (RA 6552) – Read the full text and know your rights…
http://www.foreclosurephilippines.com/maceda-law-full-text-ra-6552/

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PLEASE SPREAD THIS POST TO OTHERS.

This law helps those wanting to get rid of their condominium unit. I was just told that a new condominium building nearby now has many units up for sale after its recent turnover. 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 the purchase price.
So best for many to look into the Maceda Law as compared to reselling to see which option is best. Above are a couple of websites, so please search for more information.

NEWS OPINION: Irrational exuberance for property investments

Irrational exuberance for property investments

Business World newspaper and online - June 12, 2016

"There is no property bubble, the Bangko Sentral ng Pilipinas (BSP) assures us again, as it had assured the market repeatedly since the sub-prime mortgage crisis in the US in 2006 that led to the global financial crisis in 2008-2009. It’s not going to happen to us, we are told. BusinessWorld bannered: “BSP index shows no bubble in sight” (06.06.2016)

But why would the regulator, BSP, take upon itself the dangerous job of announcing whether there would be a property bubble or not? Well and good if there is indeed no bubble, but perhaps the “good news” or the clean bill of health should not come from the trustee of the people’s money and regulator of banks as this might suggest a somewhat misplaced endorsement of the players (developers and lenders) in a specialized industry which it does not control.

With this subliminal endorsement, the “all clear” is effectively given to the public to proceed with investments in property as the logical fallback in the long-playing scenario of low savings and other investments rates -- and low interest rates have been purposely held down by the BSP itself to expand money supply to prod activity in the market. If indeed there is no property bubble (yet) as the BSP likes to announce repeatedly, its denials might encourage the “herd mentality” that best describes how bubbles are formed in a market with thinning options...."

READ ON - http://www.bworldonline.com/content.php?section=Opinion&title=irrational-exuberance-for-property-investments&id=128883

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Previous opinion piece by this writer - http://sohocentralcondominium.blogspot.com/2013/04/why-condo-corps-fail-century-you.html

Reporting of the elevators's problems

Reporting of the elevators's problems

Were all the incidents reported to the Mandaluyong city engineer since the beginning of the year?

Were just some of the incidents reported to the Mandaluyong city engineer since the beginning of the year?

Was just one incident prior to Ryan's experience even reported to the Mandaluyong city engineer since the beginning of the year?


IF YOU EXPERIENCE ANY PROBLEM, FILL OUT A COMPLAINT FORM then...
make three (3) copies and give one to the Admin office on the 4th floor having the other two (2) stamped then bring those to the Mandaluyong city engineer at city hall and have them stamp both with you keeping one for your records.  Explain the situation in the building with the elevators.

Complaint Form - https://docs.google.com/file/d/0B0Sq5pyrVRznc2hsRmc1cHVXSFE/edit

Completely and fully disgusted

We are now completely and fully disgusted with the terrible running of the building and condition of the building.

Do not buy or rent in Soho Central Private Residences. The elevators are still failing. Be prepared to get stuck inside or worse, experience a fall riding these elevators.

WARNING: Passenger Elevator 3 (PE3)

WARNING: Passenger Elevator 3 (PE3)

It just shook and dropped and stopped with Ryan in it and he called me to call the front desk since the door was not opening. But as I was on the phone with him, it opened. He was shaking from the event that just took place yesterday. He has now filed complaints with Admin and government officials yesterday morning in Mandaluyong.

The elevator's phone and emergency bell did not work.

They are too busy in the building writing our names down in green log books instead of fixing the building. They are too busy spending tons of money on non-essentials, too.

Soho Central problems since turnover 2009

Soho Central problems since turnover 2009

Elevators, Fire & Smoke alert and suppression system, intercom, etc. A past lesson from President Harry Truman as to responsibility in that it stops and does not get passed along as so much else to others.

Garbage in the window sills continues

Garbage in the window sills continues

Who are the people throwing garbage about the building? How were they taught to conduct themselves? If you notice anyone doing this or a filthy act with garbage, smoking, spitting, etc. in the building just tell them it is inappropriate and they will be reported.