Property Views

[ptb7476]

pirated:

ptb7476:

https://sg.finance.yahoo.com/news/going ... 00948.html

Going once, going twice: More prime homes go under the hammer as owners go bust

Not all are gone bust.

Many use the auction to achieve higher selling price.

yah i know .. saw the auction list before ..quite a fair bit are by owners themselve and not bank

[pirated]

ptb7476:

pirated:

[quote=\"ptb7476\"]https://sg.finance.yahoo.com/news/going ... 00948.html

Going once, going twice: More prime homes go under the hammer as owners go bust

Not all are gone bust.

Many use the auction to achieve higher selling price.

yah i know .. saw the auction list before ..quite a fair bit are by owners themselve and not bank[/quote]So they are just opportunistic to let buyers bid up the price esp those location which does not have more such ppty.

And bankers are happy to match valuation esp for buyer whose tdsr has lots of room

[pirate]

ptb7476:

pirated:

[quote=\"ptb7476\"]https://sg.finance.yahoo.com/news/going ... 00948.html

Going once, going twice: More prime homes go under the hammer as owners go bust

Not all are gone bust.

Many use the auction to achieve higher selling price.

yah i know .. saw the auction list before ..quite a fair bit are by owners themselve and not bank[/quote]Some owner sales at auctions are actually pre-mortgagee sales. Banks usually let the borrower try to sell the property first before repossessing the property and doing it themselves.

[pirate]

pirated:

So they are just opportunistic to let buyers bid up the price esp those location which does not have more such ppty.

And bankers are happy to match valuation esp for buyer whose tdsr has lots of room

But the buyers not affected by tdsr are mostly affected by absd - at 10%. The market for anything above $2.5m is mostly dead due to buyer-seller price expectation mismatch.

[pirated]

pirate:

pirated:

So they are just opportunistic to let buyers bid up the price esp those location which does not have more such ppty.

And bankers are happy to match valuation esp for buyer whose tdsr has lots of room

But the buyers not affected by tdsr are mostly affected by absd - at 10%. The market for anything above $2.5m is mostly dead due to buyer-seller price expectation mismatch.

$4m and above has many foreigners bargain hunting

[pirate]

pirated:

$4m and above has many foreigners bargain hunting

Is that what the agents are saying?

There are some foreigners bargain hunting, but not many. Locals are also bargain hunting, and they pay only 10% absd. The problem is that these buyers are BARGAIN hunting. Basically it means the seller must drop the price by at least 10%-15% more to cover the absd the buyer must pay.

[Sun_2010]

http://www.straitstimes.com/business/pr ... tor=CS1-10

[pirate]

Sun_2010:

http://www.straitstimes.com/business/pr ... tor=CS1-10

Methinks developers should reduce prices first. Not government's job to ensure developers don't lose money. :evil:

[pirated]

pirate:

Sun_2010:

http://www.straitstimes.com/business/pr ... tor=CS1-10

Methinks developers should reduce prices first. Not government's job to ensure developers don't lose money. :evil:

Is govt's job not to crash the economy through micro policies

[pirate]

pirated:

pirate:

[quote=\"Sun_2010\"]http://www.straitstimes.com/business/pr ... tor=CS1-10

Methinks developers should reduce prices first. Not government's job to ensure developers don't lose money. :evil:

Is govt's job not to crash the economy through micro policies[/quote]It's also the government's job to not create a moral hazard.