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 12 May 08 5:09 pm |
| Anonymous wrote: | | Predict few months from now, the sellers have to be forced to sell at valuation.. |
if they cant earn a profit, they will not sell. they still can keep it and stay with it until the market goes up again than sell. |
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12 May 08 5:17 pm |
note that most flats being sold nowadays at more reasonable prices are those where they are having
1) main upgrading programme
2) lift upgrading programme
3) SERS (enbloc)
4) flat owner already bought another flat and is trying to sell the previous one
for reasons 1-3, PRs have to pay significant upgrade fees compared to locals. |
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23 Jul 08 10:35 pm |
| Anonymous wrote: | note that most flats being sold nowadays at more reasonable prices are those where they are having
1) main upgrading programme
2) lift upgrading programme
3) SERS (enbloc)
4) flat owner already bought another flat and is trying to sell the previous one
for reasons 1-3, PRs have to pay significant upgrade fees compared to locals. |
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24 Jul 08 1:21 am |
| OH NO!! ANOTHER TOPIC FOR SMART BUYER AGAIN???? |
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24 Jul 08 8:56 am |
| Anonymous wrote: | | Anonymous wrote: | But a lot of agents are telling me S'pore will not be affected...
Think for those who have sold their private properties last year would have bought them by now and all the en-bloc buyers who could afford to pay high cov are long gone....
Recent articles has also reported investors backing out and many en-bloc properties are stuck.....
Those who can afford to pay have bought and now leaves poor ppl like me trying to get a place to call my own-- homeless due to those cash rich ppl stirring the whole market up....
How low COV can u offer me??? Most agents say 30k is low! |
Don't hear the bull from those agents dude...we are in the same boat...I wouldn't want to buy even if it's 10K COV. Have you seen lately that there are some ad selling at valuation and even below valuation? You gotta be patient man...time will come...very soon...not wise to buy now. |
Dude...they are selling at valuation because the valuation itself has increased alot. I bought mine in May...and the valuation has increased by 15K...just 2 months after I bought...I paid 20K COV...it is as good as paying 5K COV after the increase in value...There are lots of people say "I think" or "bla..bla..." but you gotta see the fact! And the fact now is the property price keep increasing...
You can't just see the COV when you buy house...and from my last experience buying house...I know the renovation is not factor in alot in the valuation. I saw 2 units next to each other, both not corner with the same valuation but one nicely renovated and 1 partially renovated..how can that be?? But most of us buy house will not look at how nicely it's being renovated but gotta look at the location, the level, facing...this one u cant change while renovation..you can change anytime...thats why the renovation will not factor in so much... |
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24 Jul 08 9:13 am |
| Anonymous wrote: | Be patient.
Dont pay whatever a seller asks.
Because people loose patience and give in to the demands of seller/agent and over shoot their budget, it gives the effect that all buyers are rich and ready to pay those high COVs. Just refuse to pay and prices will have to come down. |
People who does not need to sell urgently won't lose patient...this is the type of seller who always sell at high COV. Offer the "take it or leave it". He doesnt need to sell it urgently anyway...
Those seller who really needs to sell will sell at valuation or with low COV. These sellers are normally who needs cash urgently...maybe member of the family need to pay medical fee, gambler who owe loan shark, those who are getting divorce or those who has bought a condo and need to sell their current urgently...You can find this kind of sellers..but to be honest, even if they sell at valuation...they already earn because the valuation itself has been increasing for the past months... |
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24 Jul 08 9:19 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | as a buyer dont be so rush to buy with high COV. After viewing so much of house, that's is so teriible... some house is like really not worth to pay so much COV. Be a smart buyer. |
A smart buyer = buy low, sell high
A smart seller = sell high, buy low
Those people who buy now...haizz...dunno wat to say to them.
You know there are lots of seller sell their flat few months ago at high price with high COV (to cover interest paid) and choose to stay with their parents for few months, wait for the property price to go down?? When the price go down, they will buy at lower price...They are smart enough to analyse the market and waiting patiently for the price to go down. |
yes...there are indeed sellers who sold off their houses last few mths and currently staying with parents/renting......and waiting to buy low again...
i am one of them |
You know those who always complain and hoping for the property to drop is the people like our friend above...but he was willing to take the risk...if the property really drop...then he will have profit but if it never drop to the price it used to (which I think most likely will not), then die liao loh...after months here in this forum, i come to know that most genuine buyers who needs flat urgently will not listen to the BS here...
This kind of buyer can be categorised as a not serious buyer...waiting for the property price to drop, try their luck. Same like seller, those who ask very high COV to try their luck..not a serious seller... |
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24 Jul 08 2:26 pm |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | as a buyer dont be so rush to buy with high COV. After viewing so much of house, that's is so teriible... some house is like really not worth to pay so much COV. Be a smart buyer. |
A smart buyer = buy low, sell high
A smart seller = sell high, buy low
Those people who buy now...haizz...dunno wat to say to them.
You know there are lots of seller sell their flat few months ago at high price with high COV (to cover interest paid) and choose to stay with their parents for few months, wait for the property price to go down?? When the price go down, they will buy at lower price...They are smart enough to analyse the market and waiting patiently for the price to go down. |
yes...there are indeed sellers who sold off their houses last few mths and currently staying with parents/renting......and waiting to buy low again...
i am one of them |
You know those who always complain and hoping for the property to drop is the people like our friend above...but he was willing to take the risk...if the property really drop...then he will have profit but if it never drop to the price it used to (which I think most likely will not), then die liao loh...after months here in this forum, i come to know that most genuine buyers who needs flat urgently will not listen to the BS here...
This kind of buyer can be categorised as a not serious buyer...waiting for the property price to drop, try their luck. Same like seller, those who ask very high COV to try their luck..not a serious seller... |
Say the valuvation will not drop in another 1 year
lets put some calculation how much the 4rm Sengkang flat will be in i year
HDB history of increase valuvation price , you can check this in hdb website
2nd Quater 2007 245K
3rd Quater 2007 260K (increase 15K) 6.12%
4th Quater 2007 281K (increase 21K) 8.07%
1st Quater 2008 298K (increase 17K) 6.04%
so say average valuvation increase a quater is 6%
we have four quater in one year , then base on 6% valucation increase it will be
1st quater of the year will be 315K
2nd Quater of the year will be 334K
3rd Quater of the year will be 354K
4th Quater of the year will be 376K
this is just the estimation growth if the valuvation never goes down in one year , all of this depend how much COV ask for the unit
so base on this estimation , do you think a normal person is worth to buy the 4rm hdb flat
in order to get the loan for 4rm flat in Sengkang you need minimum 5K salary , but in Singapore more of the company dont increase their pay as need to competitive with other sites to get their product cheaper
so how many of ppl here getting 5K and above , further if you buy now
do you able to sell at same price in future or not?
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24 Jul 08 8:54 pm |
Went to view a few flats today.
Found that owners of even rubbish flats are asking for top prices. Do they have any clue what other flats they are competing against.
I found that a poorly maintained basic flat is only 2 K cheaper than an excellent decor flat of same size in same area.
I had an argument with one owner agent because I told him his flat is cr4p and I wastes my time viewing it. Advertise flat as great condition and high price tag... You go there with high expectation and found yourself wasting your time.
Sellers dont realise that they are in a market selling their product to customers. They need to understand the competition before they price their product. Just go in blindly selling at whatever price takes their fancy and keep testing water. Waste everyone time.
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25 Jul 08 8:57 am |
further if you buy now do you able to sell at same price in future or not?
I think the price will keep increasing and I am confident that the future price will be higher than the current one...even if the property market crash tmrw...u gotta stay there for at least 5 yrs anyway...5 yrs from now, the property price will definitely recover back...well, considering 7% inflation since 1st q... |
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25 Jul 08 11:24 am |
| Anonymous wrote: | Went to view a few flats today.
Found that owners of even rubbish flats are asking for top prices. Do they have any clue what other flats they are competing against.
I found that a poorly maintained basic flat is only 2 K cheaper than an excellent decor flat of same size in same area.
I had an argument with one owner agent because I told him his flat is cr4p and I wastes my time viewing it. Advertise flat as great condition and high price tag... You go there with high expectation and found yourself wasting your time.
Sellers dont realise that they are in a market selling their product to customers. They need to understand the competition before they price their product. Just go in blindly selling at whatever price takes their fancy and keep testing water. Waste everyone time.
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Can it be that the excellent decor flat is under priced? |
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25 Jul 08 1:15 pm |
| Anonymous wrote: | | Anonymous wrote: | Went to view a few flats today.
Found that owners of even rubbish flats are asking for top prices. Do they have any clue what other flats they are competing against.
I found that a poorly maintained basic flat is only 2 K cheaper than an excellent decor flat of same size in same area.
I had an argument with one owner agent because I told him his flat is cr4p and I wastes my time viewing it. Advertise flat as great condition and high price tag... You go there with high expectation and found yourself wasting your time.
Sellers dont realise that they are in a market selling their product to customers. They need to understand the competition before they price their product. Just go in blindly selling at whatever price takes their fancy and keep testing water. Waste everyone time.
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Can it be that the excellent decor flat is under priced? |
some decors are not 'permanent' so it's not considered as part of valuation. thus the price won't increase much. i think valuer only look at physical change/reno on building inside the flat, i.e. floorings, walls, toilet bowl, etc; but not 'non permanent decor' such as paintings/wallpapers, cabinets, lightings, etc. |
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25 Jul 08 1:18 pm |
| Hope more agents will be fired |
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25 Jul 08 5:36 pm |
Property price in Singapore is increasing higher than declared inflation rate. Coz the price creeping up when sales are close at abv valuation. even 15k of cov (on top 300k HDB), enuf to bring the next valuation of same area to another 5% more. Coz the recent transacted price does factored in to new valuation.
The valuation would not come down unless recent sales are done below valuation. Which means no COV. The day will only come when the economy is bad. |
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25 Jul 08 5:51 pm |
Do you think HDB Resale flats valuation and COV will drop?
The official answer from HDB:
Release of 2nd Quarter 2008 Public Housing Data
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/C4BB53E1485D10F148257491001B962B?OpenDocument
1 This press release provides housing data for the HDB Resale and Rental Markets based on transactions in 2nd Quarter 2008.
HDB Resale Market
2 HDB’s Resale Price Index (RPI) rose by 4.5% in 2nd Quarter 2008 over the previous quarter, higher than the 3.7% increase seen in 1st Quarter 2008. Please see Annexes A-1 and A-2 for the RPI series and Annex B for the median transacted prices of resale flats by town and flat type.1 in 2nd Quarter 2008.
3 Resale transactions increased by about 22%, from about 6,360 cases in 1st Quarter 2008 to about 7,760 cases in 2nd Quarter 2008 (see Annex C).
4 The median Cash-Over-Valuation (COV) amount of all resale transactions in 2nd Quarter 2008 was $20,000 (see Annex D). This is a slight decrease compared with the COV of $21,000 in 1st Quarter 2008. Cases requiring COV constituted 90% of all resale transactions in this quarter, with 10% of resale transactions conducted at or below valuation.
The news was also published BIG BIG in Straitstimes today. Tomorrow many PR cannot WAIT anymore all want to buy HDB resale flat:
http://www.straitstimes.com/Latest%2BNews/Singapore/STIStory_261201.html |
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26 Jul 08 1:23 am |
| Anonymous wrote: | Went to view a few flats today.
Found that owners of even rubbish flats are asking for top prices. Do they have any clue what other flats they are competing against.
I found that a poorly maintained basic flat is only 2 K cheaper than an excellent decor flat of same size in same area.
I had an argument with one owner agent because I told him his flat is cr4p and I wastes my time viewing it. Advertise flat as great condition and high price tag... You go there with high expectation and found yourself wasting your time.
Sellers dont realise that they are in a market selling their product to customers. They need to understand the competition before they price their product. Just go in blindly selling at whatever price takes their fancy and keep testing water. Waste everyone time.
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See... those are the bad agent but he successfully cheat you to view the house. More people come, more chance to sell off the house. Who know maybe one of them like it. Definately he will not in the fire list... know how to use bussiness tactic. Keep it up. |
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26 Jul 08 11:50 am |
| Anonymous wrote: | Do you think HDB Resale flats valuation and COV will drop?
The official answer from HDB:
Release of 2nd Quarter 2008 Public Housing Data
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/C4BB53E1485D10F148257491001B962B?OpenDocument
1 This press release provides housing data for the HDB Resale and Rental Markets based on transactions in 2nd Quarter 2008.
HDB Resale Market
2 HDB’s Resale Price Index (RPI) rose by 4.5% in 2nd Quarter 2008 over the previous quarter, higher than the 3.7% increase seen in 1st Quarter 2008. Please see Annexes A-1 and A-2 for the RPI series and Annex B for the median transacted prices of resale flats by town and flat type.1 in 2nd Quarter 2008.
3 Resale transactions increased by about 22%, from about 6,360 cases in 1st Quarter 2008 to about 7,760 cases in 2nd Quarter 2008 (see Annex C).
4 The median Cash-Over-Valuation (COV) amount of all resale transactions in 2nd Quarter 2008 was $20,000 (see Annex D). This is a slight decrease compared with the COV of $21,000 in 1st Quarter 2008. Cases requiring COV constituted 90% of all resale transactions in this quarter, with 10% of resale transactions conducted at or below valuation.
The news was also published BIG BIG in Straitstimes today. Tomorrow many PR cannot WAIT anymore all want to buy HDB resale flat:
http://www.straitstimes.com/Latest%2BNews/Singapore/STIStory_261201.html |
The HDB resale price is still confirmed to be climbing at an accelerated rate. Yesterday 25 Jul 08 Shin Min Daily just reported a 4 rm in Jalan Membina being sold for 600K at 550k val, COV 50k. This is a RECORD BREAKING highest 4 rm resale price. And the most important thing is the buyer is just a HDB 4 rm upgrader and not enbloc buyer. This shows that everyone including enbloc buyer, PR and even Singaporean 4 rm buyer are buying due to rising rental and resale prices. |
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28 Jul 08 9:58 am |
| Anonymous wrote: | further if you buy now do you able to sell at same price in future or not?
I think the price will keep increasing and I am confident that the future price will be higher than the current one...even if the property market crash tmrw...u gotta stay there for at least 5 yrs anyway...5 yrs from now, the property price will definitely recover back...well, considering 7% inflation since 1st q... |
just put your fact why you think the price will keep on go up , take 1996 case ppl buy the flat at very high price , till now there are ppl cannot even get the same price and it already 12 years , what you say maybe correct , we are here to help each other to get the hdb flat at correct time
hope you understand, further more the trend in stock market , world economy , US credit issue all unstable more and more banks in US close down , it will definately impact Asia and ofcorse inflation rate very high
if you see , next year our goment going to release more 13K units in the market , this will help to reduce the rental price and indirectly it will impact the hdb resale market
what do you think?  |
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28 Jul 08 11:25 pm |
 Very good post...... 
[quote="Anonymous"] | Anonymous wrote: | further if you buy now do you able to sell at same price in future or not?
just put your fact why you think the price will keep on go up , take 1996 case ppl buy the flat at very high price , till now there are ppl cannot even get the same price and it already 12 years , what you say maybe correct , we are here to help each other to get the hdb flat at correct time
hope you understand, further more the trend in stock market , world economy , US credit issue all unstable more and more banks in US close down , it will definately impact Asia and ofcorse inflation rate very high
if you see , next year our goment going to release more 13K units in the market , this will help to reduce the rental price and indirectly it will impact the hdb resale market
what do you think? |
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