Existing home sales in US highest in almost three-and-a-half years

WASHINGTON - Home resales rose in April to the highest level in nearly 3-1/2 years as surging prices lured sellers back into market, which should support the housing sector and the overall economic recovery.

The National Association of Realtors said on Wednesday existing home sales advanced 0.6 percent to an annual rate of 4.97 million units, the highest level since November 2009.

The March sales pace was revised up to 4.94 million units from the previously reported 4.92 million units.

The increase, however, was below expectations for a rise to a 4.99 million-unit rate last month. Compared to April last year, home resales were up 9.7 percent.

Tight supplies in some parts of the country are slowing down the pace of sales, but sellers are starting to wade back into the market, attracted by rising house prices.

The housing market is one of the bright spots in the economy, which has been hit by higher taxes and deep government budget cuts.

In April, the median home sales price increased 11 percent from a year ago to $192,800, the highest level since August 2008. With prices rising, more sellers put their properties on the market, lifting the inventory of unsold homes on the market 11.9 percent from March to 2.16 million.

That represented a 5.2 months' supply at April's sales pace, up from 4.7 months in March.

Still, it remained below the 6.0 months that is normally considered as a healthy balance between supply and demand.

A very accommodative monetary policy by the Federal Reserve, which has held mortgage rates near record lows, is helping to lift the housing market off the floor.

source: interaksyon.com

West Wing Residences at Eton City opens model units for viewing

MANILA, Philippines - More than fulfilling the home ownership dream of every Filipinos, West Wing Residences at Eton City also offers an opportunity to upgrade their lifestyle. Through American contemporary-inspired homes, strategic location, complete amenities and a breath of fresh air, Filipinos can now have a home that they can proudly call their own.

Now open for viewing, West Wing Residences at Eton City model units serve as an inspiration and a glimpse of what life will be at the 20-hectare residential subdivision at Eton City in Sta.Rosa, Laguna.

Perfect for families with active lifestyles, West Wing Residences is the ideal community to settle in as it’s only an hour away from the Makati CBD, 30 minutes from Alabang, and 20 minutes away from the relaxing breeze of Tagaytay.

West Wing Residences offers a home that fits your needs; for new nesters, the two-bedroom Jefferson house has a lot area of 80 square meters and a floor area of 50 sqm. The three-bedroom McKinley house has a lot area of 100 sqm and floor area of 70 sqm. The three-bedroom Roosevelt house has a lot area of 130 sqm and a floor area of 90 sqm, while the four-bedroom Eisenhower house welcomes bigger families with a lot area of 130 sqm and a floor area of 110 sqm.

West Wing Residences at Eton City enjoys a strategic location. Future residents can take advantage of the schools, business and leisure centers that Sta. Rosa has to offer. It is a home to a variety of prestigious schools such as the future site of the UST extension campus, DLSU, Don Bosco and St. Scholastica’s College, among many educational institutions. It’s also a short ride away from churches like Sta. Rosa de Lima Church, Don Bosco Church and Chair of St. Peter Parish Balibago, as well as hospitals namely, South Luzon Medical Center, Perpetual Help Medical Center Biñan, Biñan Doctors Hospital and Asian Hospital and Medical Center.

To know more about Eton City, call (02) 542-2858 - 59 or visit www.etoncity.com.ph

source: philstar.com

Mandaue Foam: Proudly Cebu-made

Whether it’s your first apartment, a second home or a newly built dream house, the furniture you select should be given serious thought. After all, it’s going to spend a long time with you.

Mandaue Foam Industries has changed the way Filipinos live. Originally engaged in the manufacture of polyurethane foam used in beds, furniture, packaging, garments, insulation and the automotive industry, it now offers a complete line of home items that adhere to the principles of good design, high quality and affordability. It even lets customers customize their furniture to fit their homes.

Mandaue Foam started in 1971 when visionary Rosita Uy first manufactured foam in Cebu. This led to the construction of her first store in the country. Mandaue Foam quickly expanded to the neighboring provinces of Davao, Iloilo, Cagayan de Oro, Bacolod, Butuan and General Santos, bringing quality products straight to home-use customers.

In 2007, Mandaue Foam opened its doors on Ortigas Avenue Extension. The store is equipped with a state-of-the-art foaming machine line. A year later, it opened a second showroom on Quezon Avenue followed by a third one located in Las Piñas City, which also carries a wide range of home and furniture products.

Sensing the need in the market for more comprehensive home stores, Mandaue Foam began to expand and diversify its product lines to include living and dining room furniture, bedroom furniture, built-in cupboards and drawers, lighting equipment, nursery basics, kitchen finishes, blinds and shutters, bathroom fixtures, entertainment units, office furniture, curtain accessories and a lot more.

Driven and full of innovative ideas, Ryan Robinson Uy, following his graduation from Ateneo de Manila University in 2009 with a Bachelor of Arts in Management Economics, has taken the helm of the family business and oversees the operations of the 15 different branches nationwide.

“We want to be part of our customer’s dream home so we give them the freedom of modifying our pieces to match their style, explains Ryan. “We’re able to tailor our sofas, mattresses and wooden furniture to their specific liking and preference. Simply choose a design, fabric and tell us the specifications, and we will take care of the rest,” Ryan says. “This access to our factories not only allows our clients the flexibility of customizing our furniture, it enables us to lower the cost of our products.”

The company also manufactures other products like expandable polystyrene or Styrofoam boxes, polyethylene foam and fruit cap to support the agricultural export and packaging industries — all under one roof.

source: philstar.com