View Full Version : 2+1 Unit Fire sale at 600k!!! Good buy?
http://www.propertyguru.com.sg/listing/16837440/for-sale-wing-fong-court
What you think about this unit? Good buy?
Rental is not bad at least can fetch 3k
Astronotus oscellatus
11-02-14, 09:17
http://www.propertyguru.com.sg/listing/16837440/for-sale-wing-fong-court
What you think about this unit? Good buy?
Rental is not bad at least can fetch 3k
Rent out to PRC chickens?
actually seen a few ang moh expat renting in nearby wing fong mansion before
Quick, quick go buy then have house warning for members here:D
looks like a very good buy ? Certainly a lot better bet than a mickey mouse shoe box way out of town
before u buy...
remember to knock on neighbours doors to chit chat.... u never know maybe something happen itside the unit before? :D
wow the living room layout is madness
maybe buy for enbloc purpose
Odd shaped living room, sleazy neighbourhood, you get what you pay for. Not a good buy.
actually seen a few ang moh expat renting in nearby wing fong mansion before
There are many types of Ang moh and not all are rich and civilised.
val 820k sell 600k..i smell a rat:cool:
val 820k sell 600k..i smell a rat:cool:
Even at $600k it is a rip-off, you are much better using $600k to get a well renovated HDB and live much much better than that sh*t looking place.
http://www.propertyguru.com.sg/listing/16837440/for-sale-wing-fong-court
What you think about this unit? Good buy?
Rental is not bad at least can fetch 3k
Are u sure rental at least 3k? I will not pay more than 2k for such location and condition. This is an apt without any facilities.
3k maybe possible if u rent out to 6-8 workers.
Guide price is not the actual price. Actual price should be higher. By the way u will unable to get bank loan if it is in lorong 14.
Are u sure rental at least 3k? I will not pay more than 2k for such location and condition. This is an apt without any facilities.
3k maybe possible if u rent out to 6-8 workers.
must throw in some renovations...anyway past rental transaction is around 2.9-3.3k
Cheap doesn't always means good.
You need to be familar with the area to determine if it is a good buy.
It is a loft so the livable space is 400sfeet?
princess_morbucks
11-02-14, 12:32
Even at $600k it is a rip-off, you are much better using $600k to get a well renovated HDB and live much much better than that sh*t looking place.
I think TS is looking at it as an investment property.
First look, yucks!
But on second thoughts, one should not be emotional when it comes to investment property.
May be able to rent out to workers or mature students?
But more tenants may result in more problems.
Guide price is not the actual price. Actual price should be higher. By the way u will unable to get bank loan if it is in lorong 14.
So you think how much will be the actual price is they place the guide price to be $600k? This is like -$220k COV..
Allthepies
11-02-14, 15:02
if it looks too good to be true, then ...
anyway good deal (-220K COV) won't appear in propertyguru one lah, will be snapped up before it reaches mass market advertisment
i had a similar conversation with my bro-in-law, who's a property agent, last weekend.
i purported the hypothesis that there is NO true fire sale being advertised simply because,
1. if the deal is soooooo good, it would have been snapped up by the agents themselves
2. if the agents can't makan themselves, they would market it immediately to loved ones or close friends - i.e. fertile water don't flow into outsider's field (a chinese idiom)
and, he concurred with the above
i had a similar conversation with my bro-in-law, who's a property agent, last weekend.
i purported the hypothesis that there is NO true fire sale being advertised simply because,
1. if the deal is soooooo good, it would have been snapped up by the agents themselves
2. if the agents can't makan themselves, they would market it immediately to loved ones or close friends - i.e. fertile water don't flow into outsider's field (a chinese idiom)
and, he concurred with the above
Let me tell you what is true.
Most property agents are all in deep shit at the moment as majority of agent incomes comes from sales commission. And with TDSR, its going to be very difficult for them to commit into property.
For those who have money to buy, they will only buy prime unit as this segment of the market will offer best discount and best returns when market picks up.
No fire sale? You need to look harder and deeper.
it's a true sale, unit number I already got it for valuation with Uob at 760k.
check it on behalf for a colleague.
owner need cash.
previously rented out at 5k, 2 rooms, 1 parition room and 2 attic also as rooms.
it's a true sale, unit number I already got it for valuation with Uob at 760k.
check it on behalf for a colleague.
owner need cash.
previously rented out at 5k, 2 rooms, 1 parition room and 2 attic also as rooms.
If valuation at 760K why need to advert at 600K even if it is fire sale.
Could have put up at 700k and let buyer negotiate downwards
If valuation at 760K why need to advert at 600K even if it is fire sale.
Could have put up at 700k and let buyer negotiate downwards
I have seen transactions of lower than neighbor asking price.
because the seller bgt at much lower price than his neighbor. so he making the same amount of profits like neighbor, even if he sold 100k below.
this owner need cash, that's all. maybe he don't want waste time
val 820k sell 600k..i smell a rat:cool:
it's common to have cheap sale.
sea strand 1229sqft at 1.03 million. (not on pty-guru.com)
something like the owner can't service the loans etc...
offered to me from my childhood agent.
don't smell a rat
before u buy...
remember to knock on neighbours doors to chit chat.... u never know maybe something happen itside the unit before? :D
if u are referring to murder or pple died.
probably news hit headline of geylang unnatural death, moreover owner still staying inside. not vacant yet
Let me tell you what is true.
Most property agents are all in deep shit at the moment as majority of agent incomes comes from sales commission. And with TDSR, its going to be very difficult for them to commit into property.
For those who have money to buy, they will only buy prime unit as this segment of the market will offer best discount and best returns when market picks up.
No fire sale? You need to look harder and deeper.
Don't argue for the sake of arguing, it is true, first cut goes to agents themselves, then friends and relatives, and finally good business relations.
no disrespect but which part of this unit looks like a condo ? barring a major overhaul with notable renovations, what kind of resale value can this unit fetch in future ?
facilities : car park and security only ?
no disrespect but which part of this unit looks like a condo ? barring a major overhaul with notable renovations, what kind of resale value can this unit fetch in future ?
facilities : car park and security only ?
freehold, near town, rental with amenities are the only worth to look at it.
otherwise .....
it's a true sale, unit number I already got it for valuation with Uob at 760k.
check it on behalf for a colleague.
owner need cash.
previously rented out at 5k, 2 rooms, 1 parition room and 2 attic also as rooms.
wah u really go ask? anyway the advert already state seller seriously looking to sell and if I not wrong..this unit has been sitting in property guru at 800k for about 1 yr plus
wah u really go ask? anyway the advert already state seller seriously looking to sell and if I not wrong..this unit has been sitting in property guru at 800k for about 1 yr plus
that's y after 1yr plus. willing let go at 600k
and compare to the opp wing Fong mansion. latest trans for 700sqft at $9xx psf
No point arguing...It will be sold by this week....
So it is true....price reductions might be starting due to all the CMs....
But still 600k even in Geylang is absolutely rock bottom.....No reason not to buy if u have the cash...Bound to make some money when the market picks up...
Didn't I say property market will crash if they don't loosen CM? :p
No point arguing...It will be sold by this week....
So it is true....price reductions might be starting due to all the CMs....
But still 600k even in Geylang is absolutely rock bottom.....No reason not to buy if u have the cash...Bound to make some money when the market picks up...
Better call to check with the price. Sometime they put it as guide price just to attract people to call in. So when people called the agent will reply sold out and intro u another unit at a much much higher price.
wah u really go ask? anyway the advert already state seller seriously looking to sell and if I not wrong..this unit has been sitting in property guru at 800k for about 1 yr plus
maybe he is the seller...got earn better than no earn....:D
No point arguing...It will be sold by this week....
So it is true....price reductions might be starting due to all the CMs....
But still 600k even in Geylang is absolutely rock bottom.....No reason not to buy if u have the cash...Bound to make some money when the market picks up...
think opposite if whole Sg price softens in 1 or 2 yrs time due to supply and CMs, will D14 price the first one to drop most? further more buyers limited to cash rich and willing to tie the amount down for the yield...which is another question mark if rental down....:D would rather see other deals in other locations in time to come ...
Better call to check with the price. Sometime they put it as guide price just to attract people to call in. So when people called the agent will reply sold out and intro u another unit at a much much higher price.
we called already.. that's the only one selling, other of 1200sqft, is same unit which includes the attir
no other unit to swing the buyers liao
Congrats on this find.
Is an old development, watch out for leaks as its top level? Any murder cases or recent death? Rental is v good, but if the offer is too good to be true then...
no disrespect but which part of this unit looks like a condo ? barring a major overhaul with notable renovations, what kind of resale value can this unit fetch in future ?
facilities : car park and security only ?
spend some money for reno, and an auto gate.
it's will be as good as peace mansion rental to PRC gals at 1-1.2k per room.
room size and partition will be ur creativity, and the rental rate. or even add on the weekly maid services for 1-2hr
Don't argue for the sake of arguing, it is true, first cut goes to agents themselves, then friends and relatives, and finally good business relations.
Yes, dont argue for the sake of arguing. in TODAY'S climate, who is buying.
Are you trying to paint a picture that property agents, relatives and friends are all stupid and they dont read the new.
Good try, but no reward.
Yes, dont argue for the sake of arguing. in TODAY'S climate, who is buying.
Are you trying to paint a picture that property agents, relatives and friends are all stupid and they dont read the new.
Good try, but no reward.
KAM GONG! don't argue for the sake of arguing and going off topic. it was about who gets the really good fire-sale deals, and not who is buying now.
can't never seem to get your context right and oh yes, please remember to sign up for your primary one class
KAM GONG! don't argue for the sake of arguing and going off topic. it was about who gets the really good fire-sale deals, and not who is buying now.
can't never seem to get your context right and oh yes, please remember to sign up for your primary one class
Instead of always using that stupid #KAMGONG tagline, you might want to go ahead and tell us where property agents are going to find money to buy property when transaction volume are at all time low.
Talk is cheap until you have to back up what you said.
Instead of always using that stupid #KAMGONG tagline, you might want to go ahead and tell us where property agents are going to find money to buy property when transaction volume are at all time low.
Talk is cheap until you have to back up what you said.
KAM GONG! are you implying ALL property agents poor??
KAM GONG! are you implying ALL property agents poor??
No poor... over-leverage maybe a better word... I believe those who buy will have to pay 100% cash as loan maybe difficult for this lorong... It is a fact at 800k it is not sell.. It is on the listing for 1 years.
KAM GONG! are you implying ALL property agents poor??
Nope, I am implying that kamgong like you doesnt know how to read. All you know is talking jiaowei.
Let me tell you what is true.
Most property agents are all in deep shit at the moment as majority of agent incomes comes from sales commission. And with TDSR, its going to be very difficult for them to commit into property.
For those who have money to buy, they will only buy prime unit as this segment of the market will offer best discount and best returns when market picks up.
No fire sale? You need to look harder and deeper.
Originally Posted by Ringo33 http://forums.condosingapore.com/images/buttons/viewpost.gif (http://forums.condosingapore.com/showthread.php?p=462438#post462438)
Instead of always using that stupid #KAMGONG tagline, you might want to go ahead and tell us where property agents are going to find money to buy property when transaction volume are at all time low.
Talk is cheap until you have to back up what you said.
KAM GONG! don't go off topic again! this is what you posted
1. property agents can't find money to buy property?!
2. you have yet to show that property agents don't get the first sniff at fire sales
please go register for your primary 1 english classes, you obviously need help in your yet-nada comprehension skills
No poor... over-leverage maybe a better word... I believe those who buy will have to pay 100% cash as loan maybe difficult for this lorong... It is a fact at 800k it is not sell.. It is on the listing for 1 years.
my hypothesis is for fire sales in general, not property specific.
even if the agents are over-leveraged, they will introduce these deals to loved ones or close business contacts
my hypothesis is for fire sales in general, not property specific.
even if the agents are over-leveraged, they will introduce these deals to loved ones or close business contacts
He really doesn't understand English and doesn't understand how the agent's market is......many agents don't have the money to buy but many have a team of smart investors, including friends and relatives following them and waiting like vultures to pick up such fire sale deals...these ppl are usually recession proof.
Other groups who you can follow to find firesales are lawyers for fire sales, many can give you radar to distressed properties, bankrupt cases and divorce cases, many bitter divorces end up in fire sales.
When it appears in Property Guru, you can be sure it is no fire sale.
Went to view this unit today with client. Place is quite rundown given that the estate has been more than 20 years already. Cheap yes, not for own stay. Bank loan from seller agent should not be problem if you know which bank to go to.
Allthepies
12-02-14, 18:34
i had a similar conversation with my bro-in-law, who's a property agent, last weekend.
i purported the hypothesis that there is NO true fire sale being advertised simply because,
1. if the deal is soooooo good, it would have been snapped up by the agents themselves
2. if the agents can't makan themselves, they would market it immediately to loved ones or close friends - i.e. fertile water don't flow into outsider's field (a chinese idiom)
and, he concurred with the above
Yup that what I thought too...if good deals can appear in public domain, then the situation must be very very very very bleak...
Went to view this unit today with client. Place is quite rundown given that the estate has been more than 20 years already. Cheap yes, not for own stay. Bank loan from seller agent should not be problem if you know which bank to go to.
did u offer..??
its cheaper by valuation 160-200k.. whats an 30-50k fully renovation..? might get better rental..
600k can only get 388sqft studio
Patrickstar
12-02-14, 18:54
I don't think the price is $600k. There is another unit going for $800k, could be the same one but mkted by different agent.
did u offer..??
its cheaper by valuation 160-200k.. whats an 30-50k fully renovation..? might get better rental..
600k can only get 388sqft studio
many agents don't have the money to buy but many have a team of smart investors, including friends and relatives following them and waiting like vultures to pick up such fire sale deals...these ppl are usually recession proof.
If thats the case then everyone who buy a property will fall into that category because we all have friends and relatives working as property agent.
I don't think the price is $600k. There is another unit going for $800k, could be the same one but mkted by different agent.
same unit.. but many ads… :D:D:D:D:D
same unit.. but many ads… :D:D:D:D:D
But then again, if guide price is $600k then if shouldnt deviate a lot. How can agent advertise so low if the owner is looking at 800k thereabouts. This is pure misleading.
But then again, if guide price is $600k then if shouldnt deviate a lot. How can agent advertise so low if the owner is looking at 800k thereabouts. This is pure misleading.
This unit have been for sales for a year if I can remember properly.. I think the owner really want to sell this unit out... I don't know why the property agent don't buy it down? So cheap...
This unit have been for sales for a year if I can remember properly.. I think the owner really want to sell this unit out... I don't know why the property agent don't buy it down? So cheap...
most of the agents i known already own few props..including sentosa cove, and own stay landed.. plus few props in msia..
for new agents if work less than 2 years, they can't get loan as self-employed
But then again, if guide price is $600k then if shouldnt deviate a lot. How can agent advertise so low if the owner is looking at 800k thereabouts. This is pure misleading.
don't think the agent dare to ad 600k, if owner looking at 800k
she may get complained by other agents, for misleading and fishing buyers through false post..
especially some CEA or whatever was setup to protect the buyers and sellers.
right..?
don't think the agent dare to ad 600k, if owner looking at 800k
she may get complained by other agents, for misleading and fishing buyers through false post..
especially some CEA or whatever was setup to protect the buyers and sellers.
right..?
Maybe a typo error.
Sometimes this happens
Maybe a typo error.
Sometimes this happens
we called and confirm for viewing as well
if you look at other listing the same pics is been used by different agent to advert this unit but the price is VTO...the seller must have used many agent to help advertise as well
we called and confirm for viewing as well
Updates please... thank u@!
if you look at other listing the same pics is been used by different agent to advert this unit but the price is VTO...the seller must have used many agent to help advertise as well
Listing has been there for more than a year so obviously there were no offers more than 800k I guess. When any buyer view the unit he must be prepared for the location that is in lorong 14. My buyer went to view but did not want the unit even though there has been offers.
You don't know this agents' tactic to fish for buyers?
Which buyer will go to an agent who advertise $800k for a unit in the same estate when another agent advertise $600k for the same unit? :banghead:
Unethical, that is what I can say if the seller already communicated his minimum price to let go! :rolleyes:
But then again, if guide price is $600k then if shouldnt deviate a lot. How can agent advertise so low if the owner is looking at 800k thereabouts. This is pure misleading.
If thats the case then everyone who buy a property will fall into that category because we all have friends and relatives working as property agent.
Next time open your mouth and ask, did you do that? My agents have sometimes let me see very confidential pricing information for new launches, nuff said.
You don't know this agents' tactic to fish for buyers?
Which buyer will go to an agent who advertise $800k for a unit in the same estate when another agent advertise $600k for the same unit? :banghead:
Unethical, that is what I can say if the seller already communicated his minimum price to let go! :rolleyes:
Report to CEA, dummy fishing ads are not allowed but how to prove? Especially if directed by owner.
Next time open your mouth and ask, did you do that? My agents have sometimes let me see very confidential pricing information for new launches, nuff said.
hahah...you certainly sounded like a ikan bilis trying to talk like you are a big fish. since when is new launch pricing confidential when there are perhaps hundred agents sharing the information?
nuff said.
hahah...you certainly sounded like a ikan bilis trying to talk like you are a big fish. since when is new launch pricing confidential when there are perhaps hundred agents sharing the information?
nuff said.
The developer discounts are sometimes confidential, some astute buyers here may know. BTW I am ikan bilis compared to you, so no point me telling you more.
The developer discounts are sometimes confidential, some astute buyers here may know. BTW I am ikan bilis compared to you, so no point me telling you more.
noticed how you hijack this thread from talking about firesale to about you and your agent having access to "confidential information". where did that comes from?
And btw, developers discounts are standard across all agents, any additional discount will have to be discuss with developer on a case by case basis. So please stop trying to blow too much smoke around here you will get choked.
noticed how you hijack this thread from talking about firesale to about you and your agent having access to "confidential information". where did that comes from?
And btw, developers discounts are standard across all agents, any additional discount will have to be discuss with developer on a case by case basis. So please stop trying to blow too much smoke around here you will get choked.
And who will let you know how much meat there is to discuss on case by case basis? Please stop arguing with someone who has all this information, just makes you sound like a jackass. If you think everything is standard across the board and easily accessible then go ahead and be my guest, carry on believing, no agent will ever help such a cynical buyer anyway. No wonder you are clueless.
And who will let you know how much meat there is to discuss on case by case basis? Please stop arguing with someone who has all this information, just makes you sound like a jackass. If you think everything is standard across the board and easily accessible then go ahead and be my guest, carry on believing, no agent will ever help such a cynical buyer anyway. No wonder you are clueless.
Like I said before, you are just an ikan bilis so please stop trying to make up stories to make you sound like a big fish.
For any new launch, all property agents has got a set of pricing which are given to them under the instruction of the developer. ie, a price list with list price and a discounted price. And this price list could change over time depending on take up rate and market conditions.
NO agents are allowed or in position to offer any more discount than that is listed on their price list. HOWEVER, if there is a genuine buyer who are keen, agents might offer freebies, or for bulk purchase, agents could also approach developers to ask for some discount to sweeten the deal and this is done on a case by case basis.
The only meat that agents know is the meat listed on the price list,
so please cut that nonsense about agents hiding some meat under the table.
Once again, ikan bilis dont try to talk like you are big fish.
Like I said before, you are just an ikan bilis so please stop trying to make up stories to make you sound like a big fish.
For any new launch, all property agents has got a set of pricing which are given to them under the instruction of the developer. ie, a price list with list price and a discounted price. And this price list could change over time depending on take up rate and market conditions.
NO agents are allowed or in position to offer any more discount than that is listed on their price list. HOWEVER, if there is a genuine buyer who are keen, agents might offer freebies, or for bulk purchase, agents could also approach developers to ask for some discount to sweeten the deal and this is done on a case by case basis.
The only meat that agents know is the meat listed on the price list,
so please cut that nonsense about agents hiding some meat under the table.
Once again, ikan bilis dont try to talk like you are big fish.
KAM GONG! we talk about fire sales, u talk about developer's launch!! :banghead::banghead:
and now you are trying to make an irrelevant case by strutting around with elementary level info in front of seasoned buyers
go sign up for your primary school english class lah
KAM GONG! we talk about fire sales, u talk about developer's launch!! :banghead::banghead:
and now you are trying to make an irrelevant case by strutting around with elementary level info in front of seasoned buyers
go sign up for your primary school english class lah
Stop barking like a sick dog. go get some reading class.
another self pwned...LOL!!
noticed how you hijack this thread from talking about firesale to about you and your agent having access to "confidential information". where did that comes from?
...strutting around with elementary level info in front of seasoned buyers ...
You may have unintentionally helped Ringo on his argument against Xebay :D
You may have unintentionally helped Ringo on his argument against Xebay :D
i think not, it's clear who's the empty vessel strutting around
Next time open your mouth and ask, did you do that? My agents have sometimes let me see very confidential pricing information for new launches, nuff said.
xebay11, are you a real estate agent or the boss of a real estate agency?
if you are real estate agent, i just find it strange that you used "my agents", instead of "my colleagues" or "my fellow agents".
if you are the boss, equally strange is "your agents" has the option of sometimes let you see, sometimes NOT let you see.
xebay11, are you a real estate agent or the boss of a real estate agency?
if you are real estate agent, i just find it strange that you used "my agents", instead of "my colleagues" or "my fellow agents".
if you are the boss, equally strange is "your agents" has the option of sometimes let you see, sometimes NOT let you see.
Let's just say I am in the industry as buyer, investor and also hold a practising license to actually go on the ground to get privy information. I am usually go incognito when dealing with agents, so no "colleagues" or "my fellow agents".
Releasing confidential pricing and discount information depends on how tight developers are and how some agents want to release information. There are many groups out there covering different projects and when I say sometimes let me see, I don't mean NOT let me see, but because I don't ask to see.
Let's just say I am in the industry as buyer, investor and also hold a practising license to actually go on the ground to get privy information. I am usually go incognito when dealing with agents, so no "colleagues" or "my fellow agents".
Releasing confidential pricing and discount information depends on how tight developers are and how some agents want to release information. There are many groups out there covering different projects and when I say sometimes let me see, I don't mean NOT let me see, but because I don't ask to see.
so each time you asked to see the confidential pricing and discount info, do you asked as an agent or buyer (and hopefully the agents dont recognise you as one of their own)?
seems like you have 100% success rate when asking from agents.
i am hoping that agents will also tell me confidential pricing and discount info when i ask :)
Wow, I didn't know the words "Fire Sale" can ignite such a fiery argument in this thread...
Honestly, these 2 words have been heavily misused online in order to entice a Quick Sale, but please note that it doesn't necessarily equate a Cheap Sale.
A unit that's truly out for Fire Sale, would be found in the auction due to default, not here anyway.
Once in a while, we can definitely find some rare gems that are priced well below, but it all depends on timing as well as the network we are in..... And I certainly wont classify them under "fire sale" category.
As for developer pricing, I used to work for one so I know that typically developers offer the best for their existing customers, followed by mass marketing thru launches. And to promote fairness among its agents, they all follow a standard pricing w standard discounts.
Exceptional discounts are rare and dependent on Developer's confidence in the project. Even bulk purchase doesn't guarantee you more discount hor!
Best is to do your homework before committing!
Back to the topic of the thread, I would seriously consider to buy if I have the spare cash provided this is a genuine listing... Why leh?
1. $600k for a Freehold, decent size unit in a central location. Seriously, why not?
2. So many of u already say this property until so cham liao, how much worse can it get? Don't forget, the rich get richer during the crisis, and exit during the peak.
3. Enbloc potential.
4. Rental yield likely to cover monthly installments, so hold for 4 years and assess the market on capital appreciation.
Please note my humble comments are coming from investing point of view, definitely NOT from own stay perspective!!
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