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| Re: Only fools will buy in today's market |
 14 Oct 08 10:15 am |
| Anonymous wrote: | As stated, anyone buying in today's market must have lost his mind.
Better get back to your senses and hold onto your hard earned money. This is the worst time to acquire new debt.
My friend who bought a 440 K flat in Punggol so unhappy now. Bought at worst time possible...right at the peak. Now he will always stay unhappy about timing of this big decision in his life.
Dont know how many year he has to wait to get back to same value at which he bought.
Dont join him and take your mind off property purchase. Make sure you hold onto your job and accumulate savings for rainy day. If you sail through this rough period you will get great bargains to choose from. Dont make mistake of entering market at its highest.
peace all buyers. |
why he like that one ? u got ask him this 2 questions or not ?
1] was it absolutely a must for him to buy a flat at that time.
2] did anyone force him to pay 440K ?
if he say No to both questions , he confirm no brain liow.  |
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| Re: Only fools will buy in today's market |
14 Oct 08 10:30 am |
| Anonymous wrote: | As stated, anyone buying in today's market must have lost his mind.
Better get back to your senses and hold onto your hard earned money. This is the worst time to acquire new debt.
My friend who bought a 440 K flat in Punggol so unhappy now. Bought at worst time possible...right at the peak. Now he will always stay unhappy about timing of this big decision in his life.
Dont know how many year he has to wait to get back to same value at which he bought.
Dont join him and take your mind off property purchase. Make sure you hold onto your job and accumulate savings for rainy day. If you sail through this rough period you will get great bargains to choose from. Dont make mistake of entering market at its highest.
peace all buyers. |
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Aiyah...u will never wrong buying a property lah...as long as you can hold on to it and wait for another cycle. This timing thingy is for those speculators only..not for those who buy and live in it... |
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Guest
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| Re: Only fools will buy in today's market |
14 Oct 08 10:37 am |
| Anonymous wrote: | As stated, anyone buying in today's market must have lost his mind.
Better get back to your senses and hold onto your hard earned money. This is the worst time to acquire new debt.
My friend who bought a 440 K flat in Punggol so unhappy now. Bought at worst time possible...right at the peak. Now he will always stay unhappy about timing of this big decision in his life.
Dont know how many year he has to wait to get back to same value at which he bought.
Dont join him and take your mind off property purchase. Make sure you hold onto your job and accumulate savings for rainy day. If you sail through this rough period you will get great bargains to choose from. Dont make mistake of entering market at its highest.
peace all buyers. |
Yea yea... so true man... you should just tell him to go Carrefour buy the 6 men tent, i think only $60 only!!! then can go East Coast and camp there until the next revision in prices... got free water and Mcdonalds nearby somemore! and Water side living! can't beat that.....  |
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Guest
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| Re: Only fools will buy in today's market |
14 Oct 08 10:37 am |
| Anonymous wrote: | As stated, anyone buying in today's market must have lost his mind.
Better get back to your senses and hold onto your hard earned money. This is the worst time to acquire new debt.
My friend who bought a 440 K flat in Punggol so unhappy now. Bought at worst time possible...right at the peak. Now he will always stay unhappy about timing of this big decision in his life.
Dont know how many year he has to wait to get back to same value at which he bought.
Dont join him and take your mind off property purchase. Make sure you hold onto your job and accumulate savings for rainy day. If you sail through this rough period you will get great bargains to choose from. Dont make mistake of entering market at its highest.
peace all buyers. |
Actually...no one can predict what will happen tmrw...even at recession, there are still alot of ne buyers...login to straitstimes to see...so who is the f00l..still remains to be seen... |
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fc
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| Re: Only fools will buy in today's market |
14 Oct 08 10:40 am |
| Anonymous wrote: | As stated, anyone buying in today's market must have lost his mind.
Better get back to your senses and hold onto your hard earned money. This is the worst time to acquire new debt.
My friend who bought a 440 K flat in Punggol so unhappy now. Bought at worst time possible...right at the peak. Now he will always stay unhappy about timing of this big decision in his life.
Dont know how many year he has to wait to get back to same value at which he bought.
Dont join him and take your mind off property purchase. Make sure you hold onto your job and accumulate savings for rainy day. If you sail through this rough period you will get great bargains to choose from. Dont make mistake of entering market at its highest.
peace all buyers. |
Honestly, before he bought, he should have already sat down and did his math. There's probably no issue with getting a loan hence he was approved to buy the unit. Also, he must have obviously liked the unit, if not, he wouldn't have put a 1k deposit to hold it.
There must have been something about the unit which really appealed to him, or else, he wouldn't have decided to make it his home.
Not everyone who buys now are fools. Some know what they want and they will do anything to get it. Some nice units are up for sale at this time, though at a price. When prices drop, and high COV is not possible anymore, owners' sentiment to sell their unit will be lost. Chances are, owners would rather keep and rent out their units instead of selling at that time.
It's really how you look at it. Everyone should make their own calculated decisions. Don't call them fools. |
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| Re: Only fools will buy in today's market |
14 Oct 08 10:48 am |
http://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/BP13J011DS?strSystem=WIH
as of today, more than 7500 people are fighting for 600+ HDB flats in latest ballot...today market! who is fool?
During bad time, if the price is not good, you wld only find lots of low floor units on sales in the resale market... |
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| Re: Only fools will buy in today's market |
14 Oct 08 10:54 am |
| Anonymous wrote: | http://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/BP13J011DS?strSystem=WIH
as of today, more than 7500 people are fighting for 600+ HDB flats in latest ballot...today market! who is fool?
During bad time, if the price is not good, you wld only find lots of low floor units on sales in the resale market... |
Yes..... "HDB Ballot" is the key words. Flat bought from HDB is cheaper than Resale, that's why there are a lot of ppl fighting overthe 600+ units. Paying high COV in the market now is relatively dangerous as in time of reccession, the cash you have in hand are very useful. |
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| Re: Only fools will buy in today's market |
14 Oct 08 10:58 am |
| fc wrote: | | Anonymous wrote: | As stated, anyone buying in today's market must have lost his mind.
Better get back to your senses and hold onto your hard earned money. This is the worst time to acquire new debt.
My friend who bought a 440 K flat in Punggol so unhappy now. Bought at worst time possible...right at the peak. Now he will always stay unhappy about timing of this big decision in his life.
Dont know how many year he has to wait to get back to same value at which he bought.
Dont join him and take your mind off property purchase. Make sure you hold onto your job and accumulate savings for rainy day. If you sail through this rough period you will get great bargains to choose from. Dont make mistake of entering market at its highest.
peace all buyers. |
Honestly, before he bought, he should have already sat down and did his math. There's probably no issue with getting a loan hence he was approved to buy the unit. Also, he must have obviously liked the unit, if not, he wouldn't have put a 1k deposit to hold it.
There must have been something about the unit which really appealed to him, or else, he wouldn't have decided to make it his home.
Not everyone who buys now are fools. Some know what they want and they will do anything to get it. Some nice units are up for sale at this time, though at a price. When prices drop, and high COV is not possible anymore, owners' sentiment to sell their unit will be lost. Chances are, owners would rather keep and rent out their units instead of selling at that time.
It's really how you look at it. Everyone should make their own calculated decisions. Don't call them fools. |
Gotta agree with you on this. Those people who is buying to live in it won't be bother much, only those speculators will. Who are we to call them a fool?? Actually, those who claim others a fool should look themselves in the mirror and THINK.
Lakshmi Mittal spent £30 million for his daughter's wedding. Are we in the position to call him a fool? He got the $ and he wants to cheer his daughter up. Anything wrong with that? Those who critised him on the cost obviously those who are jealous... |
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No2COV
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| Re: Only fools will buy in today's market |
14 Oct 08 11:02 am |
| Anonymous wrote: | http://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/BP13J011DS?strSystem=WIH
as of today, more than 7500 people are fighting for 600+ HDB flats in latest ballot...today market! who is fool?
During bad time, if the price is not good, you wld only find lots of low floor units on sales in the resale market... |
must understand, pple buy for different reasons, what you stated is for new flat...becos of current resale price too ridiculous, that's why you see such a high application...cannot use it to compare to the resale...
as what fc, pple have their choice and should do their own math...if those cannot wait and they can affford, its their choice to buy, but like most of the buyers here, we would preferred to buy something reasonable and affordable..esp at this difficult times...
planning your finances is impt....if you fail to plan, you plan to fail...
cheers all!  |
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fc
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| Re: Only fools will buy in today's market |
14 Oct 08 11:04 am |
| No2COV wrote: | planning your finances is impt....if you fail to plan, you plan to fail...
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Nice, bro! |
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14 Oct 08 11:13 am |
In fact in bad time, it is definitely the buyer market. Agent will definitely try their best to close deal, and in this period of time, the side that they will serve hard.... I bet its the buyer. In crisis period, they will find it hard to find buyer. So buyers out there, no worries, in bad time, the agent will definitely serve you well.
For those once arrogance and rude agent....... Time to tame down |
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14 Oct 08 11:19 am |
| Anonymous wrote: | In fact in bad time, it is definitely the buyer market. Agent will definitely try their best to close deal, and in this period of time, the side that they will serve hard.... I bet its the buyer. In crisis period, they will find it hard to find buyer. So buyers out there, no worries, in bad time, the agent will definitely serve you well.
For those once arrogance and rude agent....... Time to tame down |
wat u say may be true for units in woodland, jurong west.
not for good units in good locations, dun believe? you can try yourself to query the agents even in today market |
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Guest
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| Re: Only fools will buy in today's market |
14 Oct 08 11:23 am |
| Anonymous wrote: | | Anonymous wrote: | http://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/BP13J011DS?strSystem=WIH
as of today, more than 7500 people are fighting for 600+ HDB flats in latest ballot...today market! who is fool?
During bad time, if the price is not good, you wld only find lots of low floor units on sales in the resale market... |
Yes..... "HDB Ballot" is the key words. Flat bought from HDB is cheaper than Resale, that's why there are a lot of ppl fighting overthe 600+ units. Paying high COV in the market now is relatively dangerous as in time of reccession, the cash you have in hand are very useful. |
I think the current new flat also not much cheaper than re-sale to be honest. You gotta spend at least 50K to do renovation...you got 30K grant for buying resale and another 10K if staying near parents...although re-sale may be abit more expensive than the new one, but it allows you to choose your exact location and floor level, the facing, etc whereas the new one can't unless you are lucky enough to get a good unit...so to think of it...it's got pro and cons... |
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14 Oct 08 11:24 am |
| Anonymous wrote: | In fact in bad time, it is definitely the buyer market. Agent will definitely try their best to close deal, and in this period of time, the side that they will serve hard.... I bet its the buyer. In crisis period, they will find it hard to find buyer. So buyers out there, no worries, in bad time, the agent will definitely serve you well.
For those once arrogance and rude agent....... Time to tame down |
Do you all think the resale price of hdb will drop? i heard from some agent..he is say this is hard to say...bcos demand higher than supply... |
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Guest
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| Re: Only fools will buy in today's market |
14 Oct 08 11:26 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | http://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/BP13J011DS?strSystem=WIH
as of today, more than 7500 people are fighting for 600+ HDB flats in latest ballot...today market! who is fool?
During bad time, if the price is not good, you wld only find lots of low floor units on sales in the resale market... |
Yes..... "HDB Ballot" is the key words. Flat bought from HDB is cheaper than Resale, that's why there are a lot of ppl fighting overthe 600+ units. Paying high COV in the market now is relatively dangerous as in time of reccession, the cash you have in hand are very useful. |
I think the current new flat also not much cheaper than re-sale to be honest. You gotta spend at least 50K to do renovation...you got 30K grant for buying resale and another 10K if staying near parents...although re-sale may be abit more expensive than the new one, but it allows you to choose your exact location and floor level, the facing, etc whereas the new one can't unless you are lucky enough to get a good unit...so to think of it...it's got pro and cons... |
That is why you can rarely see flats near MRT, high floor, good facing, etc sell at valuation or below valuation even if the market is bad... |
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14 Oct 08 11:36 am |
| Anonymous wrote: | | Anonymous wrote: | In fact in bad time, it is definitely the buyer market. Agent will definitely try their best to close deal, and in this period of time, the side that they will serve hard.... I bet its the buyer. In crisis period, they will find it hard to find buyer. So buyers out there, no worries, in bad time, the agent will definitely serve you well.
For those once arrogance and rude agent....... Time to tame down |
Do you all think the resale price of hdb will drop? i heard from some agent..he is say this is hard to say...bcos demand higher than supply... |
Majority of the buyers now are adopting a "wait and see" atititue. There's no doubt the resale market is cooling down due to the economic meltdown. But for HDB price to come down. It will not be happening within this 1 or 2 months. But what I can say is COV is definitely coming down. In the past, even unpopular unit are asking for ridiculous COV, but for now.... Some of them are willing to even let go below valuation.
I wouldn't say the demand is higher than supply now in the resale market, but as of now I think both sellers and buyers are all adopting this kind of "wait and see" mindset.
Another things to take note... There is no such thing in the property market as "sure won't drop", when the market hit the peak, there are bound to be a drop, might not be too significant but sure there will be a drop.
If it is not really that urgent for you to gt a flat, you should observe the market first. |
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14 Oct 08 11:41 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | In fact in bad time, it is definitely the buyer market. Agent will definitely try their best to close deal, and in this period of time, the side that they will serve hard.... I bet its the buyer. In crisis period, they will find it hard to find buyer. So buyers out there, no worries, in bad time, the agent will definitely serve you well.
For those once arrogance and rude agent....... Time to tame down |
Do you all think the resale price of hdb will drop? i heard from some agent..he is say this is hard to say...bcos demand higher than supply... |
Majority of the buyers now are adopting a "wait and see" atititue. There's no doubt the resale market is cooling down due to the economic meltdown. But for HDB price to come down. It will not be happening within this 1 or 2 months. But what I can say is COV is definitely coming down. In the past, even unpopular unit are asking for ridiculous COV, but for now.... Some of them are willing to even let go below valuation.
I wouldn't say the demand is higher than supply now in the resale market, but as of now I think both sellers and buyers are all adopting this kind of "wait and see" mindset.
Another things to take note... There is no such thing in the property market as "sure won't drop", when the market hit the peak, there are bound to be a drop, might not be too significant but sure there will be a drop.
If it is not really that urgent for you to gt a flat, you should observe the market first. |
I think the COV drop not entirely due to the market...It's because the valuation alone has been quite high. And regarding those far from MRT and low floor who sell at high COV...I think it is not suppose to be sold at COV anyway... |
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14 Oct 08 11:49 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | In fact in bad time, it is definitely the buyer market. Agent will definitely try their best to close deal, and in this period of time, the side that they will serve hard.... I bet its the buyer. In crisis period, they will find it hard to find buyer. So buyers out there, no worries, in bad time, the agent will definitely serve you well.
For those once arrogance and rude agent....... Time to tame down |
Do you all think the resale price of hdb will drop? i heard from some agent..he is say this is hard to say...bcos demand higher than supply... |
Majority of the buyers now are adopting a "wait and see" atititue. There's no doubt the resale market is cooling down due to the economic meltdown. But for HDB price to come down. It will not be happening within this 1 or 2 months. But what I can say is COV is definitely coming down. In the past, even unpopular unit are asking for ridiculous COV, but for now.... Some of them are willing to even let go below valuation.
I wouldn't say the demand is higher than supply now in the resale market, but as of now I think both sellers and buyers are all adopting this kind of "wait and see" mindset.
Another things to take note... There is no such thing in the property market as "sure won't drop", when the market hit the peak, there are bound to be a drop, might not be too significant but sure there will be a drop.
If it is not really that urgent for you to gt a flat, you should observe the market first. |
I think the COV drop not entirely due to the market...It's because the valuation alone has been quite high. And regarding those far from MRT and low floor who sell at high COV...I think it is not suppose to be sold at COV anyway... |
But that's indeed what happen in the past few months, there are some not near MRT, and still asking for 30k COV... Kind of Ridiculous, but as of now, they either not asking for COV or very low COV.
But I do also agree COV drop not entirely on the market, but I believe the market condition now would definitely not see COV going up(Probably this 1 or 2 year).
Anyway, I believe HDB valuation might drop a certain amount, might not be significant, But I think a slight drop is inevitable. |
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14 Oct 08 11:54 am |
| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | In fact in bad time, it is definitely the buyer market. Agent will definitely try their best to close deal, and in this period of time, the side that they will serve hard.... I bet its the buyer. In crisis period, they will find it hard to find buyer. So buyers out there, no worries, in bad time, the agent will definitely serve you well.
For those once arrogance and rude agent....... Time to tame down |
Do you all think the resale price of hdb will drop? i heard from some agent..he is say this is hard to say...bcos demand higher than supply... |
Majority of the buyers now are adopting a "wait and see" atititue. There's no doubt the resale market is cooling down due to the economic meltdown. But for HDB price to come down. It will not be happening within this 1 or 2 months. But what I can say is COV is definitely coming down. In the past, even unpopular unit are asking for ridiculous COV, but for now.... Some of them are willing to even let go below valuation.
I wouldn't say the demand is higher than supply now in the resale market, but as of now I think both sellers and buyers are all adopting this kind of "wait and see" mindset.
Another things to take note... There is no such thing in the property market as "sure won't drop", when the market hit the peak, there are bound to be a drop, might not be too significant but sure there will be a drop.
If it is not really that urgent for you to gt a flat, you should observe the market first. |
I think the COV drop not entirely due to the market...It's because the valuation alone has been quite high. And regarding those far from MRT and low floor who sell at high COV...I think it is not suppose to be sold at COV anyway... |
But that's indeed what happen in the past few months, there are some not near MRT, and still asking for 30k COV... Kind of Ridiculous, but as of now, they either not asking for COV or very low COV.
But I do also agree COV drop not entirely on the market, but I believe the market condition now would definitely not see COV going up(Probably this 1 or 2 year).
Anyway, I believe HDB valuation might drop a certain amount, might not be significant, But I think a slight drop is inevitable. |
This is the problem of some sellers...they see their neighbour unit sold at good price and they also wants to sell at same price or even higher without seeing his house condition...anyway, i think those people just try their luck..if can sell then good if not then it's ok... |
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