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SELLING TIPS - for the Philippines (I will start a new thread on this topic, after collecting some comments here) A site called FFE has some good ideas SELLING Online Where to advertise - There are three places you can tap to sell your property in the Philippines.: + Online classified ads sites. + Facebook + Forums... (Skycraper city, Asiaxpat, GEI , etc Forums. Don’t underestimate the power of word of mouth, and if you are able to maintain a good relationship with forum moderators, take the opportunity to advertise your property on the forum when possible. Be careful not to step out of netiquette lines when using this method, as spam posting is usually dealt with severely. When using forums to advertise, look for an existing thread on real estate trade first before posting a new topic. This way, you can already scour for potential buyers who have already replied in the threads before even posting your ad. Just like in a classified ads website, it’s important not to forget to provide the necessary information in your profile so as to look credible and easy to reach. The essentials As for the property itself, there are some essential things you need to put in your ad to be able to attract the right type of buyer. Just some of these essential pieces of information include: Lot address Lot size and number of storeys Sales price Contact details - See more at: http://ffemagazine.com/how-can-you-sell-your-property-online/#sthash.sGoGwuaC.dpuf == > more; The Right to Rent : Do you need an Agent : Sell like a Pro :

IMPORTANT DATA - so I have copied it here too Will Rents FALL in Makati in 2016 (when huge supply comes out)? - Probably, but maybe by only 3-5%, or less > source: Makati thread, post#xx, http://www.greenenergyinvestors.com/index.php?showtopic=18811&page=11

Park Terraces / Garden Towers location (surrounded by hotels) - from Ayalaland Premier Goodbye, Intercontinental Manila by Margaux Salcedo | Philippine Daily Inquirer | Sunday | November 22nd, 2015 | 12:04 AM And yet another landmark Makati building will be torn down. The Intercontinental Manila will close its doors on Dec. 31. : Intercon on the map ... Read More: Source The Zobels will tear down the Leandro Locsin-designed building, according to its statement, to make way for the redevelopment of “Ayala Center Makati, including the construction of an intermodal transport facility.” What's coming to this site? == > http://www.skyscrapercity.com/showthread.php?t=527303&page=128

(I missed this - I was traveling when it happened) GZZ : 10 cent placement, with warrants November 30, 2015 Val-d’Or, Québec – Golden Valley Mines Ltd. (“Golden Valley” or the “Company”) (TSX-V:GZZ) is pleased to announce that further to its previously announced non-brokered private placement offering, it has issued as a first tranche 10,750,000 Units for gross proceeds of $1,075,000. Each Unit consists of one common share in the capital of Golden Valley and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one common share of Golden Valley at a per share price of $0.14 until November 30, 2017. All shares acquired by the placees under the first tranche of the private placement and shares which may be acquired upon the exercise of the warrants are subject to a hold period until March 31, 2016, in accordance with applicable securities legislation. No finder’s fees were paid or are payable in connection with this first tranche of the offering. The offering has been conditionally accepted the TSX Venture Exchange and remains subject to final acceptance by the Exchange. The proceeds raised from this offering will be used by Golden Valley for general corporate purposes. About Golden Valley Mines Ltd.: The Company typically tests initial grassroots targets while owning a 100% interest therein and then seeks partners to continue exploration funding. This allows the Company to carry on its generative programs and systematic exploration efforts at other majority-owned grassroots projects. The Company (together with its various subsidiaries) holds multiple property interests in gold, base-metal and energy mineral projects in Canada (Québec, Ontario and Saskatchewan). > source: http://www.goldenvalleymines.com/news/2015/

Gold may be awaiting a move up in the Euro : : EUR (in US$) ... update : US$ 1.092 = Eur 0.916 / A move thru $1.10 / Eur 0.909 should be bullish for Gold EUR versus GLD ... update

Viewings picking up as buyers investigate possible bargains As I mentioned above, I saw a large sign from Centaline in front of the Regentville shopping mall at Fanling. Being a curious guy, and having some friends who tell me that want to buy when prices have come down, I thought I would ask for more information. One friend has a special interested in Fanling Center, because it is next to the MTR station, so I asked about that project. It is not very close to the mall, so he had to check his computer. I also asked the agent to tell me about one or two other flats, if he thought they were particular bargains. He had keys to two nearby flats, so I he allowed me to have a viewing, just a short walk away. Before commenting on what we saw, it may be interesting to repeat what he told me about the overall market. He said that viewings were starting to pick up in recent days. The market is down 5-10% from the peak, and sellers are cutting prices. So now that CL can advertise the lower asking prices, potential buyers are looking to see how could a bargain they might get. The ones he showed me were those where asking prices had recently been cut by a large percentage. Belair Monte : $3.98 mn (452, 629sf) : $8,805, net / $6,327, gross : 2BR, high floor - this building was developed by New World, and is now over 16 years old. The flat was freshly painted, and bright, with light and windows on three sides. Some of the fixtures were showing their age, but would not cost much to replace. Green Code : $6.00 mn (511, 681sf) : $11,742, net / $8,810, gross : 2BR +den, high floor - a new development completed in 2014 by Henderson Land and a partner, the flat we saw had never been lived in. I liked view from the high floor looking out towards a farm and some rolling hills in the distance Both flats represent reasonable value in relation to the current market IMHO, since the Belair flat I saw was on a high floor, and was just 3.5% above the recent CL indication of $6,110 for the estate. And the GC flat was also a high floor and -12% below original asking price of $6.8 million. And looks 5% above the recent average price ($8,368 psf, grosss) of this attractive modern project. No guarantees from me on future market direction, but I think my views are well known. The good news is that for those who have been waiting to buy, are now beginning to see some lower prices on some decent properties. There may be some room for negotiation, to pick these high floor flats up at a discount to average prices. This post is not intended to be an advert. But I did promised the agent (Koen) that I would put a link to his blog into my Forum posting, if I wrote one. So here it is: http://hk.centanet.com/findproperty/2h-HK/Home/AgentDetail?sid=S-520531 He hinted there would be some room for negotiation. So if you are interested, or maybe want to have a viewing, please feel free to contact him. His language skills in English were limited, but he has a colleague who speaks excellent English.

U.S. Existing Home Sales Plunge in November National Association of Realtors attributes 10.5% drop to new federal rules for mortgage forms Dec. 22, 2015 WASHINGTON—Sales of previously owned homes plummeted in November as delays caused by new mortgage red-tape and a dwindling supply of residences on the market pushed down sales to a level not seen since April 2014. Hmm. Seasonal slowdown (prior to winter) - and a fear of higher rates perhaps?

China's plan to grow Shanghai Composite Index / CN;ShComp ... 2-yr : 1-yr / HSI : 2-yr : 1yr / SH-vs-HSI : 2-yr : 1-yr China will use their growing Middle Class to Drive consumption + There's been a huge rise in upper class and affluent families in China, and Chinese leaders are ready to use these to grow the economy. These two groups should double size in just 5 years, even in a slow economy + Together, these groups are 17%, versus just 7% five years ago + They are now 55% of urban consumption, and should rise to 81% by 2020; they growth will be faster in smaller mainland cities, than Beijing, Shanghai, and Guangzhou OVERALL, the BGC survey is expecting 9% p.a. growth to US$6.5 trillion by 2020

Exactly - a weaker USD should be good for Gold An we have often had a decent tradable Low in Gold in Dec.

: update : forecast HISTORY: Prices up Fivefold Low was June 2003 : with average price of HK$ 1,941 per sf, gross High was November 2015 : at HK$10,487 (per Midland Realty) Prices hit a peak in mid-September, before retreating 6%, says Centaline, and are still up 4% for the year Supply/Demand balance points to price falls + Transaction volume in November was just 1,891 - the worst monthly figure in 20 years + Interest in selling is rising - with potential sellers up 15% to 1,197 among 11 major estates + Viewings were down 20% week-on-week - Buyers are willing to wait for lower prices === === Bearishness in the SCMP seems to be increasing (12/21) : Owners cut prices amid sluggish home sales + Cuts of up to $1 million, to speed up sales + 282sf home at Golden Lion Gdn in Tai wai, sold at $2.73mn, lowest price of the year + North point: Braemar Hill Mansions 1,105sf: price cut from $20.05mn to $19mn + North point, Healthy Gdns: price reduced from $6.6mn to $6million + Though owners cut prices by 5-10%, few buyers were biting. They want a bargain + Interest in selling is rising - with potential sellers up 15% to 1,197 among 11 major estates; Meanwhile, viewings dropped by 20% week-on-week (12/22) : Home prices trending down after 12 years of increases + Expected Fed rate rises and China's slowdown are denting confidence + Experts are forecasting price falls of 5% to 30% in 2016 + Prices for new launches are down as much as 20%, with more cuts expected (on fresh supply) + Owners are reluctant to cut, but sliding rents may force more realism + Hemera keys are now available, and as owners offer these flats into the market this has driven rents are down to $19.50 psf, a new low. Hemera is in LOHAS Park. In Nov 2015 the average monthly rents in LOHAS was $22 per sf (Centaline), so these new flats on top of the MTR station are offered at more than 10% below the market price + Louis Chan Wing-kit of Centaline expects prices to fall 15% by end Q1-2016 + JLL was the least bearish, expecting a drop of just 5% in 2016

: update : forecast HISTORY: Prices up Fivefold Low was June 2003 : with average price of HK$ 1,941 per sf, gross High was November 2015 : at HK$10,487 (per Midland Realty) Prices hit a peak in mid-September, before retreating 6%, says Centaline, and are still up 4% for the year Supply/Demand balance points to price falls + Transaction volume in November was just 1,891 - the worst monthly figure in 20 years + Interest in selling is rising - with potential sellers up 15% to 1,197 among 11 major estates + Viewings were down 20% week-on-week - Buyers are willing to wait for lower prices === === Bearishness in the SCMP seems to be increasing (12/21) : Owners cut prices amid sluggish home sales + Cuts of up to $1 million, to speed up sales + 282sf home at Golden Lion Gdn in Tai wai, sold at $2.73mn, lowest price of the year + North point: Braemar Hill Mansions 1,105sf: price cut from $20.05mn to $19mn + North point, Healthy Gdns: price reduced from $6.6mn to $6million + Though owners cut prices by 5-10%, few buyers were biting. They want a bargain + Interest in selling is rising - with potential sellers up 15% to 1,197 among 11 major estates; Meanwhile, viewings dropped by 20% week-on-week (12/22) : Home prices trending down after 12 years of increases + Expected Fed rate rises and China's slowdown are denting confidence + Experts are forecasting price falls of 5% to 30% in 2016 + Prices for new launches are down as much as 20%, with more cuts expected (on fresh supply) + Owners are reluctant to cut, but sliding rents may force more realism + Hemera keys are now available, and as owners offer these flats into the market this has driven rents are down to $19.50 psf, a new low. Hemera is in LOHAS Park. In Nov 2015 the average monthly rents in LOHAS was $22 per sf (Centaline), so these new flats on top of the MTR station are offered at more than 10% below the market price + Louis Chan Wing-kit of Centaline expects prices to fall 15% by end Q1-2016 + JLL was the least bearish, expecting a drop of just 5% in 2016

Bizarre statistic - why are they determined to Buy at the Top? London property worth £2.5 billion bought by Taiwanese buyers in 2015 Taiwan buyers account for more than a fifth of the estimated £12.4 billion spent on London property this year by overseas investors Russell Lynch Friday 18 December 2015 The price of property in London has risen by around 90% in the last decade London’s property market has been popular with Taiwanese buyers who have splashed some £2.5 billion on high-profile purchases, including the home of Madame Tussauds, experts have said. Taiwanese buyers have launched a spending spree from a virtual standing start to become one of the biggest spenders in London commercial property during the past 12 months, according to agents CBRE. Read more It’s close to midnight for London property prices Its figures show Taiwan accounting for more than a fifth of the estimated £12.4 billion spent on London property this year by overseas buyers. International investors account for around 65% of the total £19 billion spent. Alongside Madame Tussauds, bought by insurer Fubon Life, Taiwanese buyers have accounted for a clutch of City office buildings including the Walbrook, which Cathay Life paid £575 million for in the biggest individual deal of the year. Business news in pictures Non-Taiwanese buyers using Taiwanese cash have also accounted for deals worth hundreds of millions in London. Taiwan’s push into London is due to a relaxation of rules in 2013 allowing pension funds to invest offshore > http://www.independent.co.uk/news/business/news/london-property-worth-25-billion-bought-by-taiwanese-buyers-in-2015-a6778381.html

Sheehan nails it here - explains how the Greed of Western businessmen, and Arab families created the mess in the Middle East Coast To Coast AM - November 28, 2015 Lost & Forgotten Historyhttps://www.youtube.com/watch?v=IDq7X94xMJo Published on Nov 29, 2015 Daniel Sheehan, Harvard Law School and Harvard Divinity School trained constitutional litigation and appellate attorney joins Jimmy Church to discuss the lost and forgotten history between the U.S. and the Middle East Royal families were put in place to rule these countries, and given 10%. The money was given directly to the families, and not the people in the country. These countries were founded on corruption

Keeping a Balance ? : OFFICE space versus RESIDENTIAL flats This comparison is very interesting. We cannot assume that everyone working in Makati will be able to afford to live there. In fact, most of the jobs there will not provide sufficient salary, but it is an interesting comparison to make. And here it is for BGC too. First a simple ratio: if each desk represents a job, and each 5 sqM. is room for one job, then how many office-type jobs are in Makati, and in BGC? Area- : End 2014 space / Sq-M= Estimated jobs Makati : Office 2,847,397 / 5.0M = 569,479 B.G.C. : Office 0,975,157 / 5.0M = 195,031 Comb. : Office 3,822,454 / 5.0M = 764,510 jobs Some of these people will want to live in Makati / BGC. and some will want to live elsewhere further away, but maintain a small flat near their office so that they can travel to /from work on key days (during the week perhaps), and not face the large traffic jams that ensnarle Greater Manila. So there a real demand. Let's compare the number of condo flats in Makati/BGC with the office space: Area- : End 2014 space / Condos= Office SqM per condo Makati : Office 2,847,397 / 18,337 = 155.3 SqM B.G.C. : Office 0,975,157 / 19,427 = 50.20 SqM M./bgc : Office 3,822,454 / 37,764 = 101.2 SqM These numbers pass my "make sense" test. I assume that average condo might be 40sqM, and thus: 37,764 condos in Manila/BGC make 2.26 million SqM. if there are 1.5 working persons per condo, then there are enough flats for just 56,646 workers in Makati. The rest live in houses - where the stock is not increasing much - and is probably shrinking, Obviously, most of those workers live outside Makati / BGC and commute to their jobs in the countries top CBD's.. If my crude estimates are accurate - then only maybe 7.4% of the people who work in Makati are actually housed in Condos there. As I said, the rest live in houses, or commute from elsewhere. In practice, the percentage is lower, because some condos are empty, held for overseas owners, with some also lived in by visitors or tourists - people who do not work in Makati. The big jump in condo supply may be easily absorbed by workers who would like to live closer to their offices. And a dip in rents, if it comes, might make those condos more affordable. The Shifting Balance Let's look at a simple ratio - of Office space to Condos, and see how it is shifting over time: -------- : ------ End 2014 ------ : : ---- End 2015 -est-- : :----- End 2016 -est-- : : ---- End 2017 -est-- : : ---- End 2018 -est-- : AREA : 0ffice /Condo: Ratio : 0ffice /Condo: Ratio : 0ffice /Condo: Ratio : 0ffice /Condo: Ratio : 0ffice /Condo: Ratio : Makati : 2,847 / 18.33 : 155.3 : 2,850 / 19.33 : 147.4 : 2,850 / 23.49 : 121.3 : 2,850 / 26.45 : 107.8 : 2,910 / 27.52 : 105.7 : B.G.C. : 0,975 / 19.43 : 50.18 : 1,162 / 22.21 : 52.32 : 1,477 / 29.14 : 50.69 : 1,817 / 33.26 : 54.63 : 2,000 / 36.09 : 55.42 : comb.- : 3,822 / 37.76 : 101.2 : 4,112 / 41.54 : 98.99 : 4,327 / 52.63 : 82.22 : 4,667 / 59.71 : 78.16 : 4,910 / 63.61 : 77.19 : Ortigas: 1,299 / 13.82 : 93.99 : 1,380 / 16.25 : 84.92 : 1,440 / 17.61 : 81.77 : 1,455 / 18.50 : 78.65 : 1,494 / 18.93 : 78.92 : Rockwl.: 0,??? / 4.159 : ?? ?? : 0,??? / 4.159 : 00.00 : ???? / 4.159 : 00.00 : ?? ?? / 4.505 : 00.00 : ?? ?? / 4.997 : 00.00 : ============ When I examine this data carefully, I am less worried about a possible large correction, than I was before. Main thing which lends confidence is the rapid rise in Office space, mainly in BGC. The jump from 975k sqm at 12/2014 to 2,000k sqm at 12/2018 is a huge jump of +105 %. If those offices fill up, which seems likely then there will be a big jump in jobs in the area, and that will help greatly to fill up the new condominiums. In fact, the rise in condos over the same period, from 19.43k to 36.09k, is only +85.7%.. Thus, the balance ratio in BGC shifts from 50.18 to 55.42 - ie there should be more office space (and more jobs?) in BGC for every apartment at 12/2018 than there was at the end of 2014.(!) Even so, the market will need to be monitored in 2016-17 in particular given the expected large jumps in condo supply: Makati : +21.5% + 12.6%, in 2016, and 2017, respectively; and +31.2% + 14.1% in BGC // Combined is : +26.7% in 2016 (!), and +13.5% in 2017. The traffic jam between Makati and BGC is likely to get worse, and Makati remains more "walkable" /sidebar: In terms of getting to and around the two cities, Makati CBD is much more accessible than Taguig BGC because buses and jeepneys that come from EDSA and other cities directly pass through the Central Business District. Meanwhile, to get to Bonifacio Global City, one has to get down in Makati or Taguig and take another jeep that goes inside of BGC. Both cities implement strict traffic rules: buses and jeepneys can only pass through and stop at specific points in the major roads. But since Makati has more one way roads, flexibility in driving and commuting is greatly limited in the CBD. Buildings are closer together in Makati, making it easier for pedestrians to get from point A to point B. In addition, pedestrian underpasses make crossing roads safer along Ayala Avenue. / - See more at: http://ffemagazine.com/buying-beyond-home-taguig-makati/#sthash.F8BUsAq3.dpuf Makati has no new offices in those two critical years, so landlords will need to attract new tenants who want to live closer to their existing jobs. That is possible, of course, but they will need to compete with the existing supply, and so some price cuts may be required. BGC is also filling up with people and traffic Overall, the very high RATIO (r155.3 at end 2014, falling to r105.7 at end 2018, must mean that there are employees who want to live closer to their jobs, if they can find an attractive place to live and a reasonable cost.) I reckon that a large number of people who work in Makati now live in BGC, and they endure the traffic jams between the two locations, because they like the more spacious and more carefully planned environment in BGC. But as BGC us built out, the local BGC traffic jams will get worse, and the environment may seem more similar to Makati. So some of those living in BGC may shift back to Makati. Even if they do not, people living in other locations, such as Queson City, may prefer to live in Makati and walk to work. === > Note: Base data is from : Colliers Report-Q3 Colliers : EXCERPT comment on rents was: "An average rental growth rate of 1.5% was observed during 3Q 2015 for premium residential condominium property in the major CBDs. The average monthly rent for premium three-bedroom units in Makati CBD amounted to PhP875 per sq m for the period, higher by 1.57% QoQ; along with Fort Bonifacio which also increased by 1.26% QoQ (PhP882 per sq m). Growth in rents was highest in Rockwell at 1.82% QoQ (PhP951 per sq m). Should the completion of an unprecedented 13,400 additional units in the major CBDs by the end of 2016 materialize, Colliers foresees a downward correction in rental rates by as much as 5% by the end of 2016. With an estimated 60,000 units being completed in the entire Metro Manila area by the end of 2015, plus another 51,000 units in 2016, leased condominium units in the fringe areas will compete with available units in the major CBDs. However, worsening traffic conditions have made renting residential units in the CBD a more practical proposition for employees during the weekdays; this phenomenon may soften the impact of a more competitive leasing environment amid elevated levels of condominium stock."

Megaworld on Makati's Competitive advantages > http://www.lamudi.com.ph/journal/why-makati-remains-the-preferred-investment-destination-in-metro-manila/ EXCERPTs: + Land values in the Makati CBD has risen by 2.43 percent, hitting an average Php463,700 per sqm + Worsening traffic conditions, which if taken in a different context also means that business is booming and commercial growth is far from dying down, have also contributed to more Makati-based employees looking to live closer to their work. This has kept rental rates in the city stable Costs Remain Competitive While the city of Makati is unquestionably the costliest city to be based in, it is still comparatively more affordable than the other major cities in Southeast Asia, making it a preferred choice for foreign-based investors. From a residential standpoint, rental rates may have risen to 1.5 percent for the third quarter of 2015, but this rise is welcomed by analysts as it is dispels the rumor of an impending real estate bubble. And as mentioned, Makati is still more affordable when compared to others in Southeast Asia, with stamp duties to be paid in a places like Singapore good enough for the purchase of a condo (in Makati) === All true. But my main concerns for residential rents and values are: + The huge rise in completions that Colliers expects in 2016 (4,148 units) versus 2015 (now estimated at just 1,000, rather than the 4,608 that had been forecast) - see post #208, above + A slowdown in the global economy is expected in 2016-17 and beyond, and that may impact on the high grow expected for the Philippines === ===

(from AX) WHERE"s the Hong Kong Property Market now? Is the 6.5% drop in the CL index accurate? "I track it too (the Centaline Index), for the same reason. But I don't think it's even an indicator, there's simply no way of knowing if prices are rising or falling, because there are no accurate prices. No one is making a market any more..." - LGMV "There is still a market however it is difficult to know what the 'market' price is. I think one of the best way to ascertain the future direction of the market are the land sales. " - GK I see it differently than LGMV. There's a market price for actual transactions, but it is BELOW what Centaline is now reporting. The evidence for this is very clear... but you need to apply some analysis. The market is "dead" in most of Hong Island: especially Mid-levels and other places that LGMV is watching. Why? The sellers will not come down in price. So Centaline goes on reporting something close to last-done in their market index - examples follow: Week : CCLI // RobinPl: Tregun : Dynast : Clovell PEAK: 146.92 / 17,339*: 20,203 : 26,737 : 26,597 / (09/13, exp. R.Pl, Clov.) 12/13: 137.30 / 17,050 : 19,664 : 26,220 : 26,152 / Chg-: -6.55% / -1.67% : - 2.67% : -1.94% : -1.67% : Average drop in ML: -1.99% I wonder if any of those ML's sellers think they can actually get those prices, just 2% below the peak? Maybe a few will, and there might even be a transaction or two near those levels. But I doubt that there would be many. If you want to see the REAL market, you need to look at where there are the most transactions, where there is genuine liquidity. The best place to look is the really huge estates like Tai-koo Shing. This will shock some: Week : CCLI // Taik.Sh PEAK: 146.92 / 15,119 / (09/13) 12/13: 137.30 / 12,721 / Chg-: -6.55% / -15.87% : Maybe those last done prices were panicky sellers. I cannot believe that the whole market is yet really 15-16% below its September peak. But I am pretty certain that the real market is closer to what we are seeing in TKS than in ML. As more transactions happen, we will see who is right

Buy Calls maybe... Oil could fall further

Abitibi Royalties is the relatively new kid in the streaming space RZZ.v / Abitibi Royalties ... update : 3yr : old-$0.00 > $0.00 : xx - at 1/22/17 > GZZ.v /Golden Valley - GZZ owns 51% of RZZ Mining companies are expected to feel more pain in 2016 as the price of gold could fall below $1,000, but there is one area of the sector that could continue to benefit, according to one industry executive. Ian Ball, president of Abitibi Royalties, said in an interview with Kitco News that he expects the investment landscape next year to continue to be challenging for miners that are already cash-starved; however, one bright spot remains the royalties sector, which he expects to benefit next year as more mining companies look for alternative revenue sources to maintain their operations. Ball said that the line in the sand for gold next year will be the $1,000 an ounce; however, he added that there is a very real possibility that prices overshoot on the downside and it would not be unrealistic to see triple-digit gold prices next year. “It is already baked in that we are going to see $1,000,” he said. “I wouldn’t be surprised if prices fell to $925.” Although Abitibi Royalties is the relatively new kid in the streaming space, since early June, the company has been aggressively perusing streaming agreements, taking a very nontraditional approach by launching an online royalties search program. Through the program, for a streaming agreement, Abitibi has offered to pay the fees and taxes related to existing mineral properties and cover some exploration work. Looking back on the last six months of the program, Ball said that he is pleased with how far the company has come. He said that it have received about 70 proposals and has already signed eight royalty agreements. The company is looking to add two more agreements. On Dec. 14, the company announced that it had entered into two binding letters of intent with Gold Valley Mines Ltd to acquire a 2% net smelter return royalty. “The pace of submissions has slowed since we first launched the program but the quality has increased,” he said. “We are quite happy with the response.” Ball described these agreements as “buying lottery tickets,” and the company hopes to eventually have a portfolio of about 20 or 30 properties. > MORE: http://www.kitco.com/news/2015-12-18/Streaming-Gold-Companies-To-Benefit-In-2016-As-Gold-Falls-Below-1-000-Ian-Ball.html

Alphaland Makati Tower photos - this patch of North Makati is developing fast: 1 2 3 AND here's the view from Lerato, which is next door... That's Jazz in the Middle - note the high density

GENTRIFICATION in University /Southwest A rendering of uCity Square, looking at 36th and Filbert Streets Shifting Population : 1980 to 2010, University/Southwest (West to 46th St.) The last 10 years are reflecting a gentrification of Uv/S'west, As shown by the rise in the number of collage graduates ("Grads") Student poverty may not e genuine poverty; but there is real poverty in some parts of the district. Group: 1980 :: 1990 :: 2000 :: 2010 / 2000 >'10 White : 29.3K : 24.8K : 20.2K : 25.5K : +5,261 : Pct.--: 32.2% : 28.2% : 24.2% : 31.4% : Black : 56.5K : 56.9K : 53.3K : 42.7K : - 9,592 : Pct.--: 62.1% : 64.5% : 63.7% : 52.6% : Asian : 3.41% : 6.38% : 8.31% : 11.6% : +2,439 : Latino: 1.56% : 1.79% : 2.49% : 3.63% : +0,867 : Total - : 90.9K : 88.1K :: 83.8K : 81.1K : - 2,494 : Hh Inc.: -n/a- : $19.6K : $20.6k : $27.0k: +$6,400 : +31.1% Grads : 21.0% : 26.9% : 22.6% : 31.1% : +6,286 = (25,155 -18,869) Poverty 31.6% : 31.9% : 33.5% : 34.8% : +0,194 = (28,230 -28,036) ====== > see table: page-2, http://phila2035.org/wp-content/uploads/2012/10/USW_ExistingConditionsMemos_10.17.12.pdf When viewing the demographic and socio-economic data for the University/ Southwest District it is important to understand that higher incidences of poverty, lower median household incomes and higher renter occupancy rates are primarily attributable to the large number of students living in the district, and not the typical signs of distress or disinvestment, usually associated with these kinds of indicators. While the student population in the district has expanded outside of the traditional bound aries of the University area, the majority of students live in dormitories and rental units in the University City, Powelton Village and Walnut Hill neighborhoods. Many students living in these areas are unemployed or under employed and despite having lower incomes and being technically classified as living in poverty by the Census, actually receive funding from other non-documented sources. Spreading out from University - renovation work underway on South 60th Street in West Philadelphia - seeds of rebirth . . . Declining homeownership rates may be attributable to: attrition of older homeowners; homes being converted to rentals to accommodate students; and increased property values making home purchases cost prohibitive for the large number of young people that live in the district. The population losses in the district are clearly a result of long-term declines in Black and White population. However, over the past decade, Whites have reversed this trend by increasing population for the first time in twenty years. . . . While Blacks make up the majority of district’s total population, they only comprise a majority population in four of the district’s ten neighborhoods (Bartam, Kingsessing, Sauders Park and West Powelton). In fact, 62% (or 26,245 people) of the district’s total Black population (42,673 people) live in the Kingsessing neighborhood. The remaining Black population is dispersed throughout the district. . . . As of 2010, 62% of the total Black population (or 26,245 people) in the University/Southwest District live in the Kingsessing neighborhood. As of 2010, Whites make up the majority of the population in: Powelton Village, Cedar Park, Garden Court, Spruce Hill, University City and Walnut Hill. With the exception of Garden Court, all of these neighborhoods have had majority White population for the past thirty years. (see Table 2A). As of 2010, the largest number of White people lives in Walnut Hill (10,180). . . . Over the past thirty years, the number of homeowners in the University/Southwest District have steadily declined , as the number of renters has steadily increased. Looking at historical data from 1980 , 1990 and 2000, it appears that the loss of homeowners units is directly related to the loss of Black population. Those neighborhoods with higher percentages of Black population, tended to have higher owner occupancy rates. This is particularly true in Kingsessing, where Black homeowners comprised 65% or more of all the owner occupied housing units. As of 2010 ,the owner occupancy rate in the University/Southwest District was 32.42%, with a renter occupancy rate of 67.58%. The Citywide owner occupancy rate was 54.1 %, and the Citywide renter occupancy rate of 45.9%... Between 2000 and 2010, owner occupancy rates declined in every neighborhood in the University Southwest District, except for Garden Court. . . . In 2000, the poverty rate in the University /Southwest District was 33.52% , compared to the city-wide rate was 22.1%, Based on the most recent data from 2006/2010 ACS estimates the poverty rate in the University /Southwest District was 34.79%, compared 25.08 citywide. When reviewing the 2006-2010 ACS Poverty Data by neighborhood ,you can see that the Powelton Village (52.15%) and Bartram(47.87%) neighborhoods have the highest poverty rates.%. Poverty rates in the Bartram neighborhood have been historically high and have increased. This is most likely attributable to the large number of low-income people that live in the Bartram Public Housing development... Poverty rates in the Garden Court neighborhood have steadily declined...

Why SEPTA Ridership Isn’t Higher Posted on December 3, 2013 by Jon Geeting # This new 40-story tower proposed for South Broad St in Philadelphia is going to be awesome, and one of the main reasons it’s going to be awesome is that it’ll grow ridership on the Broad Street subway line. The more people who can live along the Broad Street line the better for the performance of our transit system. Carl Dranoff’s tower will have to get approval from City Council to rezone this parcel as CMX-5, from CMX-4, which would allow him to build taller and use more of the lot. But I wonder why everything along Broad Street and Market isn’t already zoned CMX-5. The city’s political class claims to be very concerned about SEPTA’s fortunes lately, with the state transportation bill in the news, but I see zero City Council members showing interest in doing their part to help grow ridership on our rail transit system by allowing taller buildings along rail routes. Here’s the zoning map. The square at the center is City Hall, and the streets dividing the rest of the city into four quandrants are Broad St (north and south) and Market St (east and west). The maroon colors are parcels zoned CMX-5 and CMX-4, the densest allowable zoning in the city: Sandy Smith wants to know why more Philadelphians don’t use the transit system, but is it such a mystery? See how the maroon squares along Broad and Market start to peter out as they get further away from the center? You need to blame those yellow, orange, and red squares for lower-than-ideal transit ridership. The yellow squares say people are only allowed to build short-ish row-houses there, along the expensive heavy rail line, and that limits how many people can live close to the subway. If we want decent subway mode share in this city, City Council needs to color in a thick buffer of maroon squares on both sides of Broad and Market Sts, and up along the Delaware River into the river wards. This should be a prerequisite for any talk of extending the Broad Street line south to the Navy Yard. Ten thousand people work at the Navy Yard, but the subway doesn’t go down that far, so lots of people drive. == > http://keystonepolitics.com/2013/12/septa-ridership-isnt-higher/

Parke Building : 23 South 52nd St Towers over much of the area around 52nd Street No zoning or other squabbles ever took place because the four adjacent buildings belonged to one person—Mary M. Parke, a widow and heir to the Parke Bank fortune who lived in a 6,000-square-foot mansion on 63rd Street in Overbrook. But it did run into other issues. By 1912, the building was only seven stories high, with the eighth floor not even constructed yet, and its interior unfinished, too. The whole eighth floor of this residential tower with street-level commercial space was supposed to be a deluxe apartment in the sky high above the street, spatially lit by a skylight, which was beyond modern for its time. With redevelopment spreading west from the universities, the area is ripe for revitalization, and this building is a prime location for an investor who wants to take a chance on 52nd Street and a building that really is “built like they used to build them” because it is 102 years old. T he view north on 52nd today, with the Parke Building on the right. During the reconstruction of the El in the 2000s, over half the businesses left the area around the Parke Building and 52nd Street Station. But a 2006 Philadelphia City Planning Commission study found that $160 million in unmet demand residents have for goods and services is just waiting to be tapped into by businesses. Let's hope one of those businesses decides to return the Parke to its former glory—and maybe even roll back the clock and convert it back into a mixed-use space with residents filling the top floors. == > http://www.phillyliving.com/blog/buildings-then-and-now-unfinished-business-in-the-sky-above-52nd-street.html

46th Street MFL Station - a Key development opportunity Zoning may be changed to allow more density, and CMX-2 conversions to CMX-3 (8 stories) University/Southwest District Plan Existing Conditions : Corridor development: In corridors on the edge of University City, guidance is required to achieve balance in accommodating changing demand for goods and services, while enhancing quality of life and navigating "town : Enlarge Image Opportunity: The 46th Street MFL Station Area provides the greatest opportunity for large-scale redevelopment. The surrounding blocks contain large parcels of vacant or underdeveloped, auto-oriented uses that are suitable for increased density. Redevelopment of the Provident Mutual Life site at 4601 Market Street, which is already in progress, will anchor a growing cluster of community serving municipal facilities. In addition, the Enterprise Center’s planned mixed-use complex should be supported, and zoning remapping can create friendlier conditions for redevelopment of car washes and gas stations Some key recommendations: + Identify (high-end?) land uses on parcels surrounding the station, for future mixed use developments (housing and commercial) + Pedestrian scale landscapes & improved public realm on Chestnut, Market, and Farragut Streets, + Breakdown barriers that limit pedestrian and vehicular connections + Create greening strategies, and open spaces, and safe routes to schools and transit photo : credit 46th Street TOD: Higher buildings? CMX-3 (mixed use, up to 8 stories) would be appropriate in terms of density but also for its ability to activate a floor area bonus for mixed-income housing provision, something that is becoming increasingly crucial as property values increase and large universities and hospitals seek to recruit and retain work-forces. CMX-2 (2-story zoned) parcels in this area along Chestnut and Walnut could be up-zoned to 2.5 or 3. ===== > source: http://phila2035.org/wp-content/uploads/2012/10/USW_ExistingConditionsMemos_10.17.12.pdf The 46th Street El Station gets a respectable 3,800 daily users even though much of the surrounding land is vacant or underutilized. With the support of TOD zoning and associated urban design guidelines, and improved pedestrian connections to the south, this area has potential for more intensive development which can, in turn, strengthen the transit system. The possibility of redeveloping the area as a TRID (Transit Reinvestment District) has been explored and should be re-visited. > pg 75/110 : http://phila2035.org/wp-content/uploads/2012/10/USW_ExistingConditionsMemos_10.17.12.pdf NOTE: on TRIDs : Transit Reinvestment Districts The TRID legislation enables the use of a district-based tax increment financing mechanism to capture increases in property values to pay for needed improvements... Establish appropriate mechanisms to capture the real estate taxation and other values added by joint development activities for reinvestment in the transit system and local communities. ... Eligible TRID locations are defined by distance from a transit stop or station (at least 1/8 mile, but no more than ½ mile), and may include vacant, underutilized or potentially redevelopable land. Specific boundaries can be tailored to local circumstances based on property boundaries or other factors, when authorized by the jurisdiction and the transit agency, and supported by a TRID study. Transit agencies may purchase and improve property within a TRID, consistent with existing authority and limitations on transit agencies to condemn and acquire land for public transportation purposes. A transit agency may not be the primary real estate developer, but it can purchase property, make improvements, and work with the local jurisdiction(s) to offer it for sale TRID Opportunities and Challenges for Implementation for uses consistent with the plan. Alternatively, they can advertise the presence of development opportunities within the plan area.

Prices for average Home in Philadelphia Chart : source Estimated Prices for average Home in Philadelphia > Dec2015: $149,900 - $118/sf : Realtor.com Qtr / Year : Ave.Price : /SqFt : =sqft. : (see Post#46) Dec. 2010 : $125,000 : $115/sf : 1,087 : Dec. 2011 : $139,000 : $129/sf : 1,078 : Dec. 2012 : $140,000 : $130/sf : 1,066 : Dec. 2013 : $141,000 : $130/sf : 1,085 : Q1 - 2014 : $142,000 : $131/sf : 1,084 : Q2 - 2014 : $144,000 : $142/sf : 1,014 : Q3 - 2014 : $155,000 : $144/sf : 1,083 // $158 / 144 : 1,097 Q4 - 2014 : $139,000 : $128/sf : 1,081 // $142 / 123 : 1,154 Q1 - 2015 : $130,000 : $125/sf : 1,040 // $133 / 120 : 1,108 Q2 - 2015 : $145,000 : $130/sf : 1,115 // $145 / 130 : 1,115 Q3 - 2015 : $155,000? Q4 - 2015 : $150,000? === > source Monthly-per Charts Ave.Price Year- : Jan.- : Feb. : Mar. : Apr. : May : Jun. / July : Aug : Sep : Oct. : Nov : Dec : 2014 : $000 : 000 : 000 : $000 : 000 : 000 / $000 : 155 : 158 : $155 : 150 : 142 : 2015 : $140 : 138 : 133 : $130 : 135 : 145 / $150 : 155 : 000 : $000 : 000 : 000 : Qtr-s : ---q1 $137.0 ---- : ---q2 $136.7 ---- / ---q3: $152.+ ?? . Per SqFt Year- : Jan.- : Feb. : Mar. : Apr. : May : Jun. / July : Aug. : Sep. : Oct. : Nov : Dec : 2014 : $000 : 000 : 000 : $000 : 000 : 000 / $000 : 141 : 144 : $140 : 131 : 123 : 2015 : $122 : 123 : 120 : $119 : 123 : 130 / $133 : 137 : 000 : $000 : 000 : 000 : Qtr-s : --q1: $121.7 --- : --q2: $129.0 --- /--q3: $135.+ ??- : Size--: --q1: 1,126. ---- : --q2: 1,060. ---- /--q3: 1,126.+ ??- :

SPRUCE ST., West Philly - How nice is it? How Safe? / Zoning changes coming? How big is Spruce Hill ? (just West of University City - normally said to end at 46th St.) : Google maps . Spruce Hill: "... is between 40th and 46th streets, and it stretches from Market Street south to Woodland Avenue. It has a population of over 16,000. It was built as a streetcar suburb for Center City between 1850 and 1910. It is a racially and ethnically diverse part of the city, where much historic architecture is preserved...The University of Pennsylvania campus extends into Spruce Hill and the University of the Sciences campus is also in the neighborhood. " > Spruce Hill : Wiki Walnut Hill ---- : 45th to 52nd "Racially mixed with a large seasonal student population" + West Phil. High School Garden Court : 45th to 52nd, north to Locust Street, south to Cedar Ave "A diverse mix of housing types, including the 116-unit Garden Court Condominiums. It is a racially mixed neighborhood. Income and property values are greater than those of West Philadelphia as a whole." "In the heyday of the 1920s, the Garden Court District was regarded as 'the most exclusive location in West Philadelphia', providing a rare combination of "modern apartments of magnitude, comfort and luxury, surrounded by beautiful homes" (Philadelphia Inquirer, 27 October, 1927, p.6W). To modern urban historians, the integration of imposing apartment houses into a hierarchically developed suburban setting makes Garden Court an original contribution to community planning, one that suggests an American awareness of Ebeneezer Howard's Garden City plan of high density development surrounded by low density development, and perhaps of Le Corbusier's Radiant City as well. Garden Court's comprehensive accommodation of the transportation system of this century, the automobile, is also suggestive of an awareness of Garden City theory, with remarkable similarities to Raymond Unwin's separation of people and vehicle patterns in Letchworth, England. " > MORE: http://uchs.net/HistoricDistricts/gardencourt.html Garden Court ... is diverse, racially: (47.47% African American, 42.26% White, 3.36% Hispanic, 4.82% Asian, 0.34% American Indian or Alaskan Native, 3.66% "some other race", and 1.45% are two or more races). It is diverse, ethnically: 14.65% of people living in our community are foreign-born. There are a mix of ages, from children to seniors. The community is home to people and families making a range of incomes: median household incomes for our community range from $24,464 to $63,452. Cobbs Creek : Cobbs/Mill Creek is generally bound by Market Street to the north, Baltimore Ave. to the south, 52nd Street to the east, and Cobbs Creek Park to the west. It is often locally referred to as "The Southside", West Philly: How far west is safe? (Philadelphia, Chester: best ... www.city-data.com › ... › Oct 27, 2007 : Q: I am considering a move to Philadelphia, and West Philly seems to be the best fit for me. As you travel west, the rents obviously become cheaper, but I just wanted to know how far west the safer areas extend. I've heard not to pass 45th, 50th, or 56th street by various people. What is the consensus on this? A1: The lower the street the better off you are. 45th is better than 50th. 40th is better than 45th etc etc. The closer you move towards the hood (say 50Th St.) the better chance you have of becoming a victim of crime. A2: It's not a straight east-west thing. 49th and Baltimore is a safer neighborhood than 42nd and Market. The line of sketchiness runs northeast-to-southwest across West Philly. Baltimore Ave is a good street for further out than Market, Chestnut, and Walnut, which get sketchy fast. A3; I am a mailman in West Philly, so I see a few of neighborhoods on a daily basis. West Philly is actually getting better between Penn and Drexel outwards up to about 50th St as someone else posted. (that was 2007-8) 2009: I live in West Philadelphia and I really like it. The cutoff point in West Philly is around 52nd street. Though I have visited a friend a night around there and felt fine. The cutoff point to the north depends where are you at. 42nd and Market can get sketchy. 45th or 46th and Chestnut. 49 and Walnut. 2011: Then there are somewhat more fringy areas, where hipster-types and other adherent of alternative subcultures makes up the majority, with the occasional black/South Asian/ Middle Eastern family and not-yet-wealthy professional as well. These are areas such as Ludlow to Locust, 42nd to 47th, to the north, then to the west from Spruce to Baltimore, 47th to 51st, and then finally to the southwest, everything south of Baltimore, east of 51st, and north of the train tracks. I've seen white newcomers to the city raise very happy families here, too, but most of it is not part of the Penn Alexander catchment, making schooling more iffy. Read more: http://www.city-data.com/forum/philadelphia/182878-west-philly-how-far-west-safe.html#ixzz3uY7pfnPu Apartment on Spruce Street? : MAP Proposed apartment building on Spruce Street Posted on 14 January 2014 Garden Court Community Association (GCCA) is holding a zoning meeting this Thursday (Jan. 16) about a new building proposed for 5027 Spruce Street. Community members are invited to attend the meeting to learn more about the project and to provide their input. The proposed building is a multi-family, four story apartment building, which will be nearly identical to the four story building at 5038 Spruce (see images below). The public forum to discuss the proposed construction will take place at 6 p.m. in the Vineyard Community Church (corner of 51st and Sansom Streets). Those who would like to attend the meeting but can’t make it are invited to contact GCCA’s Zoning Chair, Mariya Khandros, via email (mariya.khandros@gmail.com) with any questions or concerns. A multi-family four story apartment building is being proposed at 5027 Spruce Street. Four story building at 5038 Spruce Street (Source: Google). == > http://www.westphillylocal.com/2014/01/14/public-meeting-thursday-on-proposed-apartment-building-on-spruce-street/ The nice neighborhood may be pushed West with zoning changes Proposed zoning changes between Chestnut and Spruce, 45th to 50th Posted on 30 May 2014 Proposed zoning changes fall within the area pictured above. Proposed zoning changes for the area stretching from 45th to 50th streets and between Chestnut and Spruce streets will be the subject of a public meeting tonight at the Lea School Auditorium (47th and Locust). Councilwoman Jannie Blackwell introduced the proposed changes on May 8th and the City Council’s Rules Committee hearing (the last opportunity for public input) is scheduled for Tuesday, June 3, according to Garden Court Community Association’s Zoning Chair Mariya Khandros. The Garden Court, Walnut Hill and Spruce Hill neighborhoods are included in the area, so residents in these neighborhoods are encouraged to attend today’s meeting to provide their input (yes, we know it’s Friday night but the zoning changes affect almost every block in that area, so the organizers want to make sure that as many residents as possible give their input). The changes include switching some parcels from multi-family to single-family zoning, or changing a commercially zoned location to residential. The parcel that includes the old West Philadelphia High School would also reportedly be zoned for commercial use, presumedly to clear the way for development of the high school building. == > http://www.westphillylocal.com/2014/05/30/meeting-tonight-on-important-zoning-changes-between-chestnut-and-spruce-45th-to-50th/ What do you want at 46th and Spruce? New owners are asking at Thursday’s SHCA zoning meetingPosted on 05 August 2015 Former Transition To Independent Living Center building at 4534-36 Spruce St (archived photo). The new owners of the former Transition To Independent Living Center building at the corner of 46th and Spruce streets will be at the Spruce Hill Community Association’s zoning meeting on Thursday, Aug. 6, to hear what neighborhood residents want to see developed at the site. The building went up for sale again in June after its owner, Mission First, didn’t receive enough funding for the development of an affordable housing project at the site. The new owners have not been identified yet. The meeting will take place at SHCA’s office at 257 S. 45th St., beginning at 6:30 p.m., and the 4534-36 site will be discussed first (for approximately 30 minutes). > http://www.westphillylocal.com/2015/08/05/what-do-you-want-at-46th-and-spruce-new-owners-are-asking-at-thursdays-shca-zoning-meeting/ The Phila-2035 plan (approved 2013) for Univ/SW does not yet go further west than 46th St. "Create transit-oriented development overlays along Market Street and in the vicinity of stations at 30th Street, 40th Street, and 46th Street to enable higher density, mixed-use development." > see post #31, on previous page For Cobbs Creek, and the rest of the West, the plan is still under-development, and some complex "solutions" to the challenges of those district may be proposed: "Key issues in West Philadelphia are vacant homes, vacant lots and a lack of quality commercial options. The high vacancy rate contributes to crime problems, disinvestment and a lack of home equity. Commercial corridors are generally under-performing in comparison with the rest of the City. This means that residents have to travel further to get what they need, or settle for lower quality products and services." > Plan for the West : incomplete as of 12/2015 - but is likely to include commercial development around the stations on the MFL