Just a short drive outside Valencia you can find the Casaroro Falls. There are many falls in the Philippines but these are really beautiful and have an impressive height.
Leaving the village in north east direction you pass by a cockpit arena and a couple of Resorts before the road goes up into the mountains. Just follow all the way up until the end of the road. Here, at about 650m above sea level, is the entrance to the Casaroro falls.
After paying a small entrance fee, the path leads down a couple hundred stairs. Once you arrive at the bottom of the valley, just follow the small river upstream to the waterfall.
In some parts the remainders of a concrete walkway are still visible, but the construction wasn't up to what nature had on offer in terms of rain and accompanying floods. It's amazing if you imagine how this small river must have looked like when it was able to cause this kind of damage.
You have to cross the river a couple of times before reaching the pool, which is perfect for a refreshing bath. Though you'll wish for another one after climbing all the way up again. If you started out in the morning, now would be a good time to get some refreshments and maybe even lunch in Valencia. There's a couple of eating places around the main plaza. My favorite is a mexican place called Pacos Tacos at the east side of the plaza.