Defects in real estate properties deals: material defects that are repairable and those that are unrepairable

Nation building via learning and being the best in business

This post learned from a book by George Bockl on community based real estate business that there are 1 defects to watch out for:

     1.  The repairable ( material) defects  

     2.  The non repairable

Because of these, our filters for new projects only turned up very few projects.  We do not take projects where the water supply is doubtful, or those that are clearly flood prone or those that are near factories and pollution.    Anyway we do not have projects like we see now.   This post saw a subdivision project of a premium developer submerged in flood waters in Pampanga

The material defects are those that are part of the construction:  foundation walls, beams, columns, ceiling, roofing HVAC water sewage STP.   The non repairable are those that are inherent mostly in the land and location:   bad feng shui being located near a cemetery, near a river bank or beach property (can be eroded or destroyed by storm surge) near a volcano, sits neear a fault (like San Andreas)

So the buyers now would be wary because of the floodings.  What would result from these floods is that buyers would migrate to less flood  prone in the hills (but not in steep ravine that could erode)  The houses in Pampanga had sound construction but maybe they did not know about the elevation of the flood (it is easy now to check via google earth) or situated in flood plain. 

The towns involved in flooding in Pampanga  Bulacan and Tarlac may see sudden decline in values of real property (the zonal valuation would have to be revised -  ZV keeps going up up for the govt coffers)

Let us see also better compliance with no build zones, issuance of ECC and the like which every developer has to go through (except the companies owned by some officials that are exempt from inspection?)