Category Archives: ASEAN

Big turnout at Complex property valuation seminar in Cebu

Appraiser Agosto, lectures on Complex Property Valuation-Valuation Masterclass II. The seminar workshop, held in Castlepeak Hotel in Cebu City,  was organized by PAREB Cebu Real Estate Board.

The seminar participants reached to more than 80 real estate practitioners, including real estate appraiser and brokers not only from Cebu but also from Negros, Cagayan de Oro and Leyte.”I was stunned by the turnout of participants”, Gus told the organizers of the seminar. “It just showed that practitioners values the seminar”.

In the 2-day lecture, participants learned from different case studies actual application of solving appraisal problems using discounted cash flow method, opportunity cost, replacement value and market studies on township development.

“Thank you for sharing your expertise on us”, one of the participant shared in the lecture room. “Very knowledgeable in the topics discussed”, another participant shared.

The valuation masterclass is a project of PAREB Academy for its members. Its objective is to raise the level of PAREB Appraiser-members professional practice through seminars, workshop and provide linkages through appraiser’s directory.

Appraiser Gus Agosto has conducted lectures already in different areas of the country. Hosted by different local board, he traveled Iloilo City, Dipolog City, Cagayan de Oro, Pasig, Caloocan, Lucena, Puerto Princesa, Baguio, and other areas.

 

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Using drone in appraisal

S-048395x2000Thinking outside the box is essential in the valuation profession. It only makes sense that drones would come to be in the hands of appraisers.

In recent appraisal assignments, appraisers’ uses drone in site inspections. Drones provide unique perspectives on properties, giving appraisers more information to use for a credible appraisal report.

“It allows us to get up higher, get a better view of the roof and rotate 360 degrees above the property to provide a view of the surrounding properties,” Appraiser Gus said. “We could not provide that footage without using a drone.”

There are many advantages in using  drone for appraisal. One is the ability to access hard-to-reach places. Areas considered previously unobservable such as roofings, gutters, easements and more, can now be seen using the correct equipment. Not only can these items be observed, but areas of interest can be identified for additional inspection.

Drones can be specifically useful in commercial properties,  large tracts of land where easements and prior improvements can be shown via photographs or video. This allows appraisers to observe and document a property in real-time on the date of inspection and will undoubtedly change the way many properties are viewed going forward.

These developments show that valuation profession is not afraid to innovate with new technology.  It elevated the practice of profession to a new and higher level.

” Drones provide appraisers more information to use for a credible appraisal report.”

 

US court appointed expert witness

courtAppraiser Gus appointed and subpoenaed as an expert witness in  San Joaquin Superior County Court, Stockton, California. The court is  determining the value of  properties located in the Philippines which is under dispute and for disposition.

“I am humbled for the appointment and the opportunity to appear in a US Court as an appraiser witness.” Appraiser Gus replied upon knowing the order.

In its order, the court emphasized his role in the court proceeding citing the following:  “The appraiser provided an estimate of value for real estate properties in the Philippines. He has the the first hand knowledge of the properties, title information and estimated values which are crucial in resolving the property division aspect of the case.”

Prior to his appointment, Appraiser Agosto has served different trial courts in the cities of Lapulapu, Cebu, Mandaue and Talisay as court commissioner.  Beside working in the court, he has served clientele both in private and public. Some of them includes Miraizo Group of Hongkong, General Milling Corporation, SMC Lighterage Corporation, Southwestern University, Pilipinas Water Resources, Inc. and University of the Philippines. He was the former Managing Partner of Intech Property Appraisal, Inc. and Magaca Appraisal Konsult.

“It’s an opportunity to showcase our professional expertise in the USA, which is known as the hallmark of real estate industry.” Appraiser Gus told Appraiser News Online. “My job is to help the court in determining the value of the property under litigation.”

Appraiser Agosto is a National Director of the Philippine Association of Real Estate Board, Inc. He is also a faculty of real estate management and finance in the University of San Carlos, Cebu City.

 

Subpoena

 screen shot caption of the subpoena

ASEAN IS ONE TONIGHT

We welcome 2016, not just a new year, but a new era for our country and other members of ASEAN. ASEAN is one community tonight.

The ASEAN Economic Community endeavors to become a single market and production base. It will unify the 625 Million people of 10 countries under ASEAN as a single community. ASEAN will be connected thru effective air, sea and land links. Further development of regional connectivity will help people, goods and services flow across the region more quickly and cheaply.

ASEAN identifies professions that are allowed to practice in other ASEAN countries. Small-Medium Enterprises (SME) will become more competitive. Those who are open to ASEAN market can expand operations and acquire office space and industrial properties outside the Philippines.

ASEAN community gives us more opportunities. The free movement of goods, services, skilled labor and capital would require more commercial and residential buildings and other infrastructures.

At the same time, it brings challenges to connect. Bigger, skilled and more advanced real estate practitioners from other ASEAN countries can enter the local market. They need local partners and counterparts.

New era requires new mindset and system. It means old habits and comfort zones should be archived. It is an era where connectivity and excellence is a must.

Happy New Year!   Welcome to ASEAN Community.

ASEAN-logo-One-community