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 02 Jun 08 2:45 pm |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | 0 cov is not going to happen again. everybody wants cash surely. even if a few K for resettling to new place. maybe arround 10K will be minimum. but by then valuation already creep up. so means back to square 1.
Low valuation + High cov = High valuation + Low cov = a no difference situation.
buy now or later makes not much difference. present singapore pop already raised to 4.5 million. still got another 2 million to go by the time all the new plans take effect (IR F1 YO etc etc) |
For me I don't mind High valuation + Low cov. The valuation part are loans from HDB that means that I would have more cash to do renovations. I've viewed many units with broken tiles, run down kitchen cabinets asking for $30k cov if need to redo have to fork out another $30k renovation. That is a total of $60k cash that I have to come out. Don't you find it crazy? |
yes its definitely crazy!
but just think about it this way. you know what is today and what was yesterday. the good of yesterday you cannot have. what is today you can have, if you choose to. what will be tomorrow can be better or it may be worse.
but what is certain about tomorrow is that valuation will be high (unless ther is another asian financial crisis looming up ahead). as for the cov though, is could be down or it could be up.
the question really is : are you willing to gamble on 30K to 50K ? |
i think there is more likely to ask are u willing to SAVE 30 to 50k or more. =  from a buyer point of view |
As a buyer I don't mind losing $50k in cpf rather that $30k in cash. That is my point of view. |
Personally i agree with u. We can't witdraw any $$$ from CPF, even you dont have cash for food. Cash is King but not in CPF. |
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02 Jun 08 11:34 pm |
Cash is definitely king in a slow economy.
I will only pay below value as also the valuation is very high. |
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Guest
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03 Jun 08 1:02 am |
| Anonymous wrote: | | Anonymous wrote: | 0 cov is not going to happen again. everybody wants cash surely. even if a few K for resettling to new place. maybe arround 10K will be minimum. but by then valuation already creep up. so means back to square 1.
Low valuation + High cov = High valuation + Low cov = a no difference situation.
buy now or later makes not much difference. present singapore pop already raised to 4.5 million. still got another 2 million to go by the time all the new plans take effect (IR F1 YO etc etc) |
For me I don't mind High valuation + Low cov. The valuation part are loans from HDB that means that I would have more cash to do renovations. I've viewed many units with broken tiles, run down kitchen cabinets asking for $30k cov if need to redo have to fork out another $30k renovation. That is a total of $60k cash that I have to come out. Don't you find it crazy? |
AGREE! Buyers must unite and offer $0 COV. |
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03 Jun 08 1:05 am |
| Anonymous wrote: | | Anonymous wrote: | | HDB very unlikely..it is private over supplied not HHD. Both targeting different class of tenant too.Many Private TOP but no much HDB TOP leh....and 1st buyer are snapping up new HDB flat fast and in high price. They will be the batch who take new HDB flat from HDB and still losing money.... |
hey!!!duxton @ pinnacles the highest block in Tanjong pagar will be completed by next year!As what i know.the few blocks of HDB have more than 5000 units!so those people moving in there gotta sell away their current HDB flat!(by law) By that time we will see a over supply of HDB la!!!!  |
Oh, and the new flats of Zhenghua, Yishun and more in Pungol are coming! |
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Guest
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03 Jun 08 7:09 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | 0 cov is not going to happen again. everybody wants cash surely. even if a few K for resettling to new place. maybe arround 10K will be minimum. but by then valuation already creep up. so means back to square 1.
Low valuation + High cov = High valuation + Low cov = a no difference situation.
buy now or later makes not much difference. present singapore pop already raised to 4.5 million. still got another 2 million to go by the time all the new plans take effect (IR F1 YO etc etc) |
For me I don't mind High valuation + Low cov. The valuation part are loans from HDB that means that I would have more cash to do renovations. I've viewed many units with broken tiles, run down kitchen cabinets asking for $30k cov if need to redo have to fork out another $30k renovation. That is a total of $60k cash that I have to come out. Don't you find it crazy? |
AGREE! Buyers must unite and offer $0 COV. |
Support you , i only consider gg back to look for flat end of this year, pty mkt drop..... be united |
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03 Jun 08 10:07 am |
I just don't bother to go viewing if there is covs.
Anyway the valuations are ridiculously high and it's a risk to take a big loan at a slowing economy.
If you cannot afford the mortgage maybe due to job loss, still you have to fork out cash to top up. |
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03 Jun 08 1:09 pm |
cannot risk buying property at current prices.
Just have to look at stock market to see how badly the economy is doing.
All the bulls are getting slaughtered. Steak is cheap cheap |
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03 Jun 08 2:02 pm |
| "thumbs up" i like your analogy |
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03 Jun 08 2:57 pm |
| Market is going will be lively soon. More than 20,000 families were granted citizenship for past 5 months. Its better to secure now as more naturalized citizens are coming these year. |
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Guest
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03 Jun 08 4:50 pm |
| Anonymous wrote: | | Market is going will be lively soon. More than 20,000 families were granted citizenship for past 5 months. Its better to secure now as more naturalized citizens are coming these year. |
Thats right,singaporean will be competing against PR for flats infuture.Its going to be tough. |
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03 Jun 08 5:10 pm |
hmm.. so u are saying these 20,000 families are homeless and or renting and now suddenly need home.. hmm.. i not too sure and find it hard to believe.. where u got these figures har  |
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03 Jun 08 5:13 pm |
With the affordability issue, people are not mad to commit a few hundred thousand loan just because people paint a rosy picture to lure them to buy.
The market is quiet and the govt says property has peaked.
Property prices is definitely affecting business costs prompting the govt to issue the statemnent.
600 workers accomodated into 2 storey of space causing the HDB and MOM to investigate. Bosses are feeling the effects of high rental.
Maybe there are more such cases to be discovered.
And with the slowing economy,be extra cautious in a peaked market.
Very importantly judge yourself, don't listen to agents desperate for sales. |
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Guest
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03 Jun 08 5:16 pm |
What I meant is:
With the affordability issue, Buyers are not mad to commit a few hundred thousand loan just because some people paint a rosy picture to lure them to buy. |
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Guest
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03 Jun 08 11:01 pm |
| My friend bought a 3rm flat in Toa Payoh 2mths ago and he paid 15k COV....His agent(cousin) told him he is lucky because the COV is 20k now......Dont know how true is it?????Anyone can advice?? |
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Guest
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03 Jun 08 11:15 pm |
| Anonymous wrote: | | My friend bought a 3rm flat in Toa Payoh 2mths ago and he paid 15k COV....His agent(cousin) told him he is lucky because the COV is 20k now......Dont know how true is it?????Anyone can advice?? |
which block ?
We can check the transaction. |
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Guest
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03 Jun 08 11:55 pm |
In a quiet market, having covs is simply overpaying.
I will only off at value at most.
But likely will wait till end of the year to commit |
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04 Jun 08 12:19 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | 0 cov is not going to happen again. everybody wants cash surely. even if a few K for resettling to new place. maybe arround 10K will be minimum. but by then valuation already creep up. so means back to square 1.
Low valuation + High cov = High valuation + Low cov = a no difference situation.
buy now or later makes not much difference. present singapore pop already raised to 4.5 million. still got another 2 million to go by the time all the new plans take effect (IR F1 YO etc etc) |
For me I don't mind High valuation + Low cov. The valuation part are loans from HDB that means that I would have more cash to do renovations. I've viewed many units with broken tiles, run down kitchen cabinets asking for $30k cov if need to redo have to fork out another $30k renovation. That is a total of $60k cash that I have to come out. Don't you find it crazy? |
AGREE! Buyers must unite and offer $0 COV. |
Support you , i only consider gg back to look for flat end of this year, pty mkt drop..... be united |
If the entire buying community is willing to unite and 'demand' $0 COV, sellers will have no choice but to lower their prices. It's akin to a union that demands higher pay, the pressure will force owners to take a conciliatory stance. |
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Guest
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04 Jun 08 10:46 am |
| Anonymous wrote: | In a quiet market, having covs is simply overpaying.
I will only off at value at most.
But likely will wait till end of the year to commit |
I believe lots of buyers are resisting the high prices, causing the quiet market. That's why desperate agents are coming out all sorts of tricks to lure buyers by painting a rosy picture, buy now or price surge type of reasons.
For what is solid fact is govt say prices has peaked, so don't listen to agents.
For me I will not bother to view if there is covs, it's simply overpaying as valuation has included all fixed renovations, location and floor.
I would rather buy a simple unit for 0covs than a nice renovated one for 20k cash. But now is the time to bring the valuation down by offering below values. |
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Guest
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04 Jun 08 10:51 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | 0 cov is not going to happen again. everybody wants cash surely. even if a few K for resettling to new place. maybe arround 10K will be minimum. but by then valuation already creep up. so means back to square 1.
Low valuation + High cov = High valuation + Low cov = a no difference situation.
buy now or later makes not much difference. present singapore pop already raised to 4.5 million. still got another 2 million to go by the time all the new plans take effect (IR F1 YO etc etc) |
For me I don't mind High valuation + Low cov. The valuation part are loans from HDB that means that I would have more cash to do renovations. I've viewed many units with broken tiles, run down kitchen cabinets asking for $30k cov if need to redo have to fork out another $30k renovation. That is a total of $60k cash that I have to come out. Don't you find it crazy? |
AGREE! Buyers must unite and offer $0 COV. |
Support you , i only consider gg back to look for flat end of this year, pty mkt drop..... be united |
If the entire buying community is willing to unite and 'demand' $0 COV, sellers will have no choice but to lower their prices. It's akin to a union that demands higher pay, the pressure will force owners to take a conciliatory stance. |
Count me in. I don't want to b a sucker and regret. |
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