Property Views

[lee_yl]

zac's mum:

I’m just saying what I saw is greed. Yes there is a prevailing market price. But they are asking for the highest end of the market range, when the unit is not the best in the market. Eg facing is bad, unit with bad number, needs full reno, etc. Usually reasonable people will know their unit’s minus points and concede to reduce price accordingly. I am selling off my HDB soon. But I will be realistic and I won’t insist on selling at same price as my neighbor of 10 floors higher up what.


The $1m HDB was a fantastic unit with great selling points. Maybe buyer was happy to fork out for those selling points.

While scouting for my unit, within the same condo, a few units were then on sale. The selling price range was quite wide with some obvious distress sales while some asking way above the prevailing market rate. I never call those sellers asking unrealistic prices, don’t bother with them lah. I only rang up those fire sales or reasonable ones.

Oh btw, it’s quite common to have units on lower floors transacted at a higher price than its neighbors upstairs.

I have this friend who managed to brainwash me by saying, if you really like that unit very much, give in lor, be generous as people also want to earn a bit. Maybe she is filthy rich or too kind hearted. But her words do make sense, else you may end up seeing and bargaining for many units but still can’t close the deal.

[Cloud Cloud]

lee_yl:

zac's mum:

I’m just saying what I saw is greed. Yes there is a prevailing market price. But they are asking for the highest end of the market range, when the unit is not the best in the market. Eg facing is bad, unit with bad number, needs full reno, etc. Usually reasonable people will know their unit’s minus points and concede to reduce price accordingly. I am selling off my HDB soon. But I will be realistic and I won’t insist on selling at same price as my neighbor of 10 floors higher up what.


The $1m HDB was a fantastic unit with great selling points. Maybe buyer was happy to fork out for those selling points.

While scouting for my unit, within the same condo, a few units were then on sale. The selling price range was quite wide with some obvious distress sales while some asking way above the prevailing market rate. I never call those sellers asking unrealistic prices, don’t bother with them lah. I only rang up those fire sales or reasonable ones.

Oh btw, it’s quite common to have units on lower floors transacted at a higher price than its neighbors upstairs.

I have this friend who managed to brainwash me by saying, if you really like that unit very much, give in lor, be generous as people also want to earn a bit. Maybe she is filthy rich or too kind hearted. But her words do make sense, else you may end up seeing and bargaining for many units but still can’t close the deal.

When I bought my second resale flat, another agent felt I paid $5000 above market price. I guessed I really like the unit and was tired of viewing. Also in a hurry to buy as I already sold my condo then.

Same same. I usually ignore those unreasonable asking and only view those more reasonable ones. Don’t want to waste time.

[Cloud Cloud]

lee_yl:

Cloud Cloud:

In the short term, property rental is a way to cash out cpf. In the long run, property is still the best hedge against inflation.

In year 2010 when we disposed off our first investment unit, there was no such thing as ABSD.

Fast forward to 2018, in this 8 year gap, we waited and waited for the big property crash but it did not happen and we were impacted by inflation because we kept our proceeds in various FDs which gave us miserable returns. Worse still, the prices of today’s properties were around $100k - $200K higher (comparing apple to apple) than the price we let go in 2010 even with all the ABSD, SSD and TDSR measures.

Indeed, property is still the best hedge against inflation. If one can hold, just leave them as inheritance for your kids.

Understand how you feel. My friends also said I should wait when I bought the condo in 2015. I think I am more of an impulse buyer. Although only paper gains, it feels good that the new condo has appreciated even before TOP

It was just pure luck that I bought my first condo one year after the currency crisis. Many sellers were really desperate then. The seller gave a further discount although I thought the asking was already very low. That was how bad the market was. Understand the unit had been vacant for 6 mths.

Our properties are for our own retirement needs. Hopefully, bto remains affordable for our children.

[starlight1968sg]

Many are very rich and here we are talking about 1-2 mil for a ppty.

I don’t think I hv the guts to buy a 3rd one as our runway is relatively short.

[janet88]

zac's mum:

I’m just saying what I saw is greed. Yes there is a prevailing market price. But they are asking for the highest end of the market range, when the unit is not the best in the market. Eg facing is bad, unit with bad number, needs full reno, etc. Usually reasonable people will know their unit’s minus points and concede to reduce price accordingly. I am selling off my HDB soon. But I will be realistic and I won’t insist on selling at same price as my neighbor of 10 floors higher up what.

selling at a high price is all about luck.
my elderly neighbour on the 9th floor (mine was on the 8th) sold his corridor unit at $720k about a year before I did...we were all very shocked to hear the sound of hacking one fine day at 9am. other than the amenities of a flat, the flat facing, presence of afternoon sun, floor level...the one other point is the corridor. some neighbours mark their 'territory' with plants, bicycles, clothes rack, toyogo drawers, shoe rack etc. it's really an eye sore when the lift door opens and that greets you everyday.
my corner unit didn't fetch that amount but we still managed to get a realistic sum - good enough to pay for renovation of new flat after deducting outstanding balance, resale levy, agent fees, interest and misc fees.

[starlight1968sg]

Dh told me he read somewhere Park Colonial (?) is selling like hot cakes ???

[elimmel]

So with this new cooling measures, those starting or just started enbloc process can pack up?

[zac's mum]

I just went to view a resale unit. Seller’s agents are in agreement: their potential customer base has been reduced greatly with the cooling measures.

[MyPillow]

zac's mum:

I just went to view a resale unit. Seller’s agents are in agreement: their potential customer base has been reduced greatly with the cooling measures.

Are u disposing your first property ?
If u are then absd dun affect u.
Can’t “ blame “ those who want yo sell high . This is their “ business” model not greedy la. If can sell high , earn more , why not ( if we are seller now, we also hope to sell a good high price )
Good luck in house hunting , now should be easier for u since new absd is implemented to curb price hike.

[MyPillow]

starlight1968sg:

Many are very rich and here we are talking about 1-2 mil for a ppty.

I don’t think I hv the guts to buy a 3rd one as our runway is relatively short.

StarL, I m not looking at 2nd private property too. Am comfortable n satisfied with my state now . Actually I paid for my parent HDB too ...so That’s 3. Just dunno how HDB pricing will be - how long should we hold etc.