Cebu Real Estate Information

Comprehensive information for empowerment of property buyers, sellers, and salespersons

Cebu Properties


88 Summer Breeze

Acacia Drive

Courtyards of Pasadena

Michael James

Murano 4BR Riverdale

Sapphire 3BR Riverdale

Emerald 4BR Riverdale

Riverdale Subdivision

Ruby 4.5BR Riverdale

Gavina 5BR Riverdale

Fatima 5BR Riverfront

Elaisa  5BR Riverfront

Drina   4BR Riverfront

Carmela 3BR Riverfront

Greenwoods Executive Village

Marga  2BR Riverfront

North Belleza Talamban


88 Hillside Mandaue City

Aduna Beach Villas

Amoa Subdivision

Anami Homes Jugan

Aspen Heights  (Lot only)

Aspen Heights Fiona H&L rfo

Aspen Heights Aurora H&L rfo

Casa Cerro Compostela

Casili Residences

Crown Heights (Lot only)

El Montegrande 200 sqm Lot

El Monteverde de Cebu

Elizabeth View Homes

Garden Bloom Villas

Greenville Heights

Lunah 2-storey 4BR

Mandaue Lot 7,825 sqm

Northfield Residences

Redwood Subdivision

Richwood Homes

Summerhills (Lot only sale)

The Heritage (Lot only)

Villa Melissa Liloan

Virtacci Hills

Vista Verde Residential Estates

Yanessa Country Homes   


Acasys Homes


Bali Residences

Blessed Sacrament

City Homes Mactan

CKL Homes

Collinwood Subdivision

Discovery Bay Resort

La Aldea del Mar

Pacific Grande 2

Park Place Twin Homes


Summerville Cordova

Sunberry Homes

Teakwood Subdivision

Villas Magallanes (Lot only)


88 Brookside Talisay SRP

4BR H&L overlooking sea

Baywalk Talisay

Beachfront house Talisay

City Homes Minglanilla

Malibu Residence

San Fernando 2.5 hec

South Covina

The Villagio

Velmiro Heights

Villa Donna Talisay

Vista Grande Overlooking  



Amisa Condo

Apple One Banawa

Arterra Residences 

Atelier Residences

Avalon Condo Ayala

Avida Towers

Azalea Place

Bamboo Bay

Bayanihan Flats

Bloq Residences Mandaue

Diamond Suites & Res

Eagles Nest

Grand Residences

La Mirada

Marco Polo Residences

Myvan Cityscape

Myvan Cityscape 2

Myvan Grand Tower

One Oasiis

Pacific Grande condo

Penthouse Woodcrest

Saekyung Village One

The Trillium Residences

Vertu Residences

Woodcrest 2BR condo rfo



Casili Mandaue 7,825 sqm

SanFernando 2.5 hec. cheap



2BR apartment for rent in Mandaue

1BR condo for rent in Mandaue 15K 

2BR condo rent in Mandaue 28

IT Park Lahug 1BR condo

Metropolis 4BR house for rent 35K 

Dona Rita Cebu City house rent 7BR

Want to earn extra income?


Is Buying Foreclosed Properties A Good Deal?

                                                                                                                                                                                                                                                       26 March 2012


A straight answer to this question is: it all depends. All opportunities to buy foreclosed properties should be treated on a case to case basis and list all the factors, positive and negative given the minimum bid or price offer by banks. Aside from analyzing the value of the property such as the prevailing market price, lot area, floor area, location, how old the building, design, structure, etc., there is a need to find out from independent sources the real story behind the foreclosure. While it is generally accepted that it is due to financial slump of the owner, but there could be more than that such as financial slump plus the area has unsolvable problem or bears a problem that takes a huge amount to resolve. Take the case of the house and lot foreclosed by a bank in a subdivision in Mandaue City. The lot where the house stands looks good in its location near the exit of the subdivision when the weather is fine but based on deeper interviews with the nearby residents, the front lawn turns into an instant swimming pool for frogs during rainy season since the drainage in the areas near the exit are defective. The owner could not get the other residents to cooperate as they are not affected with the problem being in the higher elevation, so only those few houses located in lower elevation will have to bear the effects of the problem. Despite this problem and the bank knows fully well, the minimum bid remains the same for years and allows it to lay dormant unsold.

Nonetheless, there are excellent profits to be made by investing in foreclosed properties, but before you start, there are a few myths to clear up. First of all, while it's true a bank or mortgage lender is motivated to get foreclosed properties off its books, it's usually not possible to buy them as cheap as you can expect. You can, however, almost always purchase them at below-market prices. Second, it's not true that a lender will be willing to sell the property for just the balance due. The lender will set the price based on the prevailing market rate, and many other factors. And third, your credit will still be a factor.

Another common myth is that foreclosed properties are all in bad neighborhoods. This just isn't true, particularly as the rate of foreclosures continues to go up. When the economy stumbles, or the interest rates rise, many upscale homes are lost as its owners struggle to meet the increased monthly payments on less income. You will find plenty of foreclosed properties in distressed neighborhoods that represent good value, but you will also find foreclosures in some of the finest communities. . But regardless of location, it is common for foreclosed properties in any area to need at least some repair. In most cases, you will be buying the house "as is," so factor in an estimated cost of repair when making your bid.

There are three types of foreclosures; you may purchase a home in pre-foreclosure, at a foreclosure auction, or lastly, you may purchase an REO (real estate owned) property that has already been taken back by the bank and has received no bids at an earlier auction. In a short sale, you, the investor, offer the lender a discounted price for a property before the auction takes place. Depending on the property, this can be an excellent strategy for investment. Buying at auction, too, is a good source of deals. But sometimes after the auction, a bank may not receive any bids on a property, or may receive bids that are under its minimum requirement. These Philippine properties are then called "REO" properties, and most lenders will be able to provide you with a list of their REO's. This list, too, can be an excellent resource for finding good real estate deals.

When you bid on a foreclosed property at auction, it will usually not be possible for you to inspect the property in great detail beforehand, and you will be expected to have solid financing--or cash--on the day of sale.

In addition to buying the property at a discount, it's not unusual for a lender to offer an investor other incentives, such as attractive interest rates or lower closing costs and points. If the lender doesn't offer these sorts of incentives, it never hurts to ask for them.

There are banks who offer "rock bottom prices" for their foreclosed properties like in the case of a house and lot in Lahug, Cebu City. The delinquent borrower employs delaying tactics to hold on to his property by way of legal defenses. The lot area is approximately 1000 square meters and the building is already old about 20 years or more. But the minimum bid required is only P4,497,000 For the lot alone, the prevailing market value on this area is easily P12,000 per square meter which one can get a substantial gain even if he will demolish the house and sell only the lot. However, the bank sells this on as is basis including the assumption of the legal case in which case the buyer will have to pursue until the occupant is ejected from the house by way of a sheriff action. This represents a very good opportunity to those who know the laws or at least rely on lawyers who will fight for the possession of the property with the belief that the cost of the fighting may only take a few thousand but the legal minded buyer will be confident that eventually he will gain possession and fruits of several millions naturally follow.

Author: Engr. &Real Estate Broker Manuel Jr Arengo 

Real Estate Broker License No. 0007808

Mobile No. 0922-2556-555

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