Newbie
do we hear anything close to a firesale so far? (so far only 1 case mentioned in this thread)
see restaruants still long queue, cars still sell well, orchard road shopping like with super spending power... makes me really wonder am i living in a different world....
guess nothing is going to hit home until we see retrenchment in the non-banking sector here.
Senior
good food will always see a queue, good times, queue will be twice as long. cars selling well? doubt that, a few dealership are lamenting slow sales. but shopping will always be good unless we have a epidemic, touchwood.Originally Posted by art10626
Newbie
did manage to make me feel embarrassed to start negotiation with a 8% discount...Agent again.....
Senior
so you inked the deal at 5% discount out of guilt?
Newbie
wah lao, STI lost so much already can't believe zero impact on property... so give myself a few more months lor...
Senior
Its coming....
I sell Cheese Pie
I would have gone for the jugular straight-off with a 30% discount. No deal? Nevermind, come back 6 months later lor.... when the seller is in more of a mood to compromise
I sell Cheese Pie
And folks, I kid you not. At least in Geylang, the prices of these pte apts and condos have shot through the roof. Take a poorly maintained pte apt chokeful of china prc tenants, every single unit of them. Ok lah, might as well name the place. Crystal Lodge at lorong 16. It was only transacting about $410k to $450k back in 2008/09.I would have gone for the jugular straight-off with a 30% discount. No deal? Nevermind, come back 6 months later lor.... when the seller is in more of a mood to compromise
Fast forward to today, no change or improvement to the said location, poor maintenance, all lowly paid tonnes of FT prc tenants.... and one silly joker willing paid about $835k for a 3 bedder there just last month
Even if you deduct 30% off the latest paid price, all the earlier owners still make easily a cool $150k to $180k if they sell around $560k to $580k (plus all these years of rental yields)
Newbie
only comes when interest rates goes up.....Its coming....
Senior
Interest rates going up coming soon!
Senior
Interbank lending rate, no. Margins over cost of funds, perhaps.Interest rates going up coming soon!
Exalted
sibor rates how to raise?? not in near future lor
but bank's spread oredi started to increase....but theres a limit.....normally spread is 1-1.5%
Senior
the best agents i know are in the choa chu kang lim chu kang are....rip...Agent again.....
Senior
for those that dont understand english....Its coming....
akan datang....
Senior
thats because when u buy geylang property u think with ur Small head...And folks, I kid you not. At least in Geylang, the prices of these pte apts and condos have shot through the roof. Take a poorly maintained pte apt chokeful of china prc tenants, every single unit of them. Ok lah, might as well name the place. Crystal Lodge at lorong 16. It was only transacting about $410k to $450k back in 2008/09.
Fast forward to today, no change or improvement to the said location, poor maintenance, all lowly paid tonnes of FT prc tenants.... and one silly joker willing paid about $835k for a 3 bedder there just last month
Even if you deduct 30% off the latest paid price, all the earlier owners still make easily a cool $150k to $180k if they sell around $560k to $580k (plus all these years of rental yields)
Senior
easy peasy these kind of threads just start talk kok about something that everybody like to talk about....very soon many pages...most of thread i start like that...somehow talking in forum more interesting than talking face to face...ha hawow... 5 pages in less than 24 hours. Things are hotting up again.....
Junior
well, i've morons trying their luck by offering 800-900psf for my FH unit in D15 (just 5min walk to PP).
my thought is - doesn't even cover my replacement cost so please don't bother me with your pathetic cheque.
Junior
I am only prepare to pay 1100psf for Mt Sinai area... I am waiting for a mega correction. Meanwhile I will work extremely hard to save enough for the right moment.
Senior
you got a gem...dont SELL....
Junior
Huh? I thought you should call the people who buy from you at your asking price 'MORONS' and call the people who try to buy from you at a discount the "SMART INVESTORS".
You mean you will pay people their asking price everytime ?
Dont think it's nice to call someone a moron just because you are trying to sell at your asking price and people are just low-balling you.
Senior
Gem for homestay don't sell but gem for investment will be more a gem when sold to make huge profits! Rental yields are slow and unpredictable!you got a gem...dont SELL....
Go for Smallest Unit
gems are like diamonds.. no value after discovery and yet have to spent money to polish it up. Need a license to mine them. Can only profit if a buyer buys them.Gem for homestay don't sell but gem for investment will be more a gem when sold to make huge profits! Rental yields are slow and unpredictable!
Junior
well, if low balling is smart then why don't every 'smart' investor put up offers that are reminisent of the 1970s? your definition of being 'smart' is akin to walking into Tiffany's and telling them their stuff should be priced at Taka jewellery's levelHuh? I thought you should call the people who buy from you at your asking price 'MORONS' and call the people who try to buy from you at a discount the "SMART INVESTORS".
You mean you will pay people their asking price everytime ?
Dont think it's nice to call someone a moron just because you are trying to sell at your asking price and people are just low-balling you.
morons are those that don't do their homework and think every house on the block is up for firesale. if you are offering me an amount that's way below my replacement costs, it's a waste of your time and mine.
Junior
Hey... don't ask, don't know mah...
This is a free market, the potential buyer offers what he thinks its worth. Why is it moronic? If its not what you expect than don't sell. Why should a buyer consider about your replacement cost?
Homework? Market rate is only perception based previous transactions not necessarily future transactions. Your view seems to suggest that they should only stay flat or go up, it can very well go down if market forces determine so.
I assure you the potential buyer is not wasting his time. Your time may be wasted though but that is something you have to contend with when you try to sell your property.
Senior
gem is a 3 letter word another 3 letter word is mrt...when mrt comes up near parkway parade......Gem for homestay don't sell but gem for investment will be more a gem when sold to make huge profits! Rental yields are slow and unpredictable!
Exalted
i assume u sell thru agent?
tell ur agent no xx px pls dun bother u lah
Junior
my agent was suave, didn't bother me with the kacang putehs on the table. just gave me a routine update that made me laughi assume u sell thru agent?
tell ur agent no xx px pls dun bother u lah
Junior
are you deaf or daft? why should i sell below market value if i'm not in dire need to let go of the unit? as you said, free market = willing buyer, willing seller. it's moronic if one can't see beyond the fact that a buyer must offer a proposition that's enticing enough for the seller to bite.
if you can't afford a tiffany's, don't walk into the store and treat it like taka jewellery.
Exalted
personally i will not try low balling too.....if asking px far exceeded my expectation, i will just walk away and look for other ppty lor....there r so many ppty for sale rite?
and if u want more den 10% below current market px, shd just monitor the market and wait for their asking px to drop first den try nego 5-10% from the asking px
Senior
You may think your property is like a tiffany in jewelery terms but the person who gave you a lower offer might just be seeing your property as taka grade, hence taka pricing. He is being smart to offer you low, only a true moron would buy at higher than market price or even market price in this property peak.
(Btw tiffany is about the only jewelers to laser inscribe their serial numbers on the crown instead of the girdle of the diamond, really stupid thing to do as it affects the value of the precious stone. They of all jewelers should know better)are you deaf or daft? why should i sell below market value if i'm not in dire need to let go of the unit? as you said, free market = willing buyer, willing seller. it's moronic if one can't see beyond the fact that a buyer must offer a proposition that's enticing enough for the seller to bite.
if you can't afford a tiffany's, don't walk into the store and treat it like taka jewellery.
Last edited by Regulators; 07-10-11 at 10:47.
Posting Permissions
Reply With Quote