Forrest Hills Banawa Cebu
This is a three story, of course completely concrete building, nice, and clean, a bright and happy feeling, behind a gate that would cost 1000 Dollars in the USA, however very common on this street.
Philippines Real Estate Values
I cringe when someone tries to tell me the value of a home here or what they paid, or what they believe is the fair price.
I think - Wow, what a problem with zoning, there are no zoning laws -
To appraise a home, you must take into consideration the value of a the property next to the home, you cannot just ignore this, however in the world, especially the Expats, they just do not seem to think, how much for the road-side Sorry Sorry stand, then I buy a home next to it.
This is a photo taken from the second story balcony of the home; if you look close, you can see a goat.
Comps
Comparable homes in the neighborhood.
How does a Real Estate Broker or Appraiser factor in the goat next door?
I was a Real Estate Broker for 14 years, I cringe when they tell me this home is worth 85,000 U.S. Dollars, I want to say, how do we price the goat?
Real Estate on the planet is a shell game, never trust where you think the nut is below the shell, it is moving, the person is cheating, maybe hiding the nut. The home rents for 400 U.S. dollars; therefore, the home is max value of maybe 40 thousand. But with a leap of lack of common sense, some man that met a girl in the Philippines, had relations with her, can not convince himself to pay any amount of money to buy his dream of always finding a women that acts like they love him, for only a small tip.
Chris is renting a home with five bedrooms for 400 U.S. Dollars, him and his house cleaner live in the house. It is nice, in a white concrete feeling type of way.
I am happy to say, on the electrical side, it does have a plug on all wall, not common on the planet.
Philippines Real Estate Values
Forrest Hills Banawa Cebu
