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Thread: A few CCR transactions sold at a loss (reported in The Edge)

  1. #2221
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    not ccr, but since bros werther and catsick had mentioned the tanglin view penthouse,

    #20-01 2121 sq ft

    Bought 27 Nov 2007 1556psf
    Sold 21 May 2014 1179psf.

    losses in excess of 900k.

    bro catsick bought it?

    Quote Originally Posted by catsick View Post
    That is what I am doing , there are plenty of very cheap offers in the market , and I am looking to buy something at a very heavy discount , for example there is a very nice penthouse at tanglin view , it is a fire sale with a very desperate seller, this will appear soon as a sale on the ura at such a low price it will cause the usual de-coupling response ...

    Seriously speak to any agent in the ccr and tell them you have cash to buy with and dont need a loan and they will have plenty of desperate sellers to hook you up with ...

  2. #2222
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    Quote Originally Posted by bargain hunter View Post
    not ccr, but since bros werther and catsick had mentioned the tanglin view penthouse,

    #20-01 2121 sq ft

    Bought 27 Nov 2007 1556psf
    Sold 21 May 2014 1179psf.

    losses in excess of 900k.

    bro catsick bought it?

    Hi Hunter

    wow, it was indeed sold at a good price. However, this unit different from the one advertised cos that unit was 1700 sq ft, asking for $2M.

    Hope catsick bought it. Congrats!

  3. #2223
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    the 1700 sq ft one asking 2m may also have been sold subsequently.

    this penthouse was advertised earlier for the longest time at 2.8m.

    bargain and u shall get!

    Quote Originally Posted by Werther View Post
    Hi Hunter

    wow, it was indeed sold at a good price. However, this unit different from the one advertised cos that unit was 1700 sq ft, asking for $2M.

    Hope catsick bought it. Congrats!

  4. #2224
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    my general feel again is that bargains are being bought. those for sale for 3 months or so have recently found buyers. the buyers started to nibble from april. transactions are still low but its also a sign that there are fewer good units for sale.

  5. #2225
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    27 MAY 2014 9 PATERSON LODGE 20 PATERSON ROAD #04-04 APARTMENT FREEHOLD 850 STRATA 1,976 1,680,000

    asked for 1.8m, sold for 1.68m. interesting that while the project's new name is paterson linc, perhaps becoz this project was special ( http://www.condosingapore.com/forums...postcount=2155 ), the caveat retained its old name, paterson lodge.


    Quote Originally Posted by bargain hunter View Post
    Knight Frank is also selling:

    #04-04 Paterson Linc 850 sq ft asking 1.8m 2118psf (a new psf low for small units in this project).

    no caveats have been lodged for #04 or lower units before.

    As reference, #05-04 is 743 sq ft and was sold for 2m in Mar 2010.

    #07, 08 and 09-04 are 818 sq ft and were sold for 1.76577m each (#07 and #08) in dec 2009 and 2.03m (#09) in may 2010.

  6. #2226
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    Hi bargain

    Thanks for the update.

  7. #2227
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    Quote Originally Posted by bargain hunter View Post
    27 MAY 2014 9 PATERSON LODGE 20 PATERSON ROAD #04-04 APARTMENT FREEHOLD 850 STRATA 1,976 1,680,000

    asked for 1.8m, sold for 1.68m. interesting that while the project's new name is paterson linc, perhaps becoz this project was special ( http://www.condosingapore.com/forums...postcount=2155 ), the caveat retained its old name, paterson lodge.
    Went to see the unit last year Sept/Oct. It was asking for about S$2m. I didn't know about the unit number until I arrive there..I think the unit number is a major contributor to the low price. Also, it's very very noisy as it fronts the very busy Paterson Road. I didn't consider it further due to the noise and the unit number. So, it looks like the transacted price is 16% lower than the asking of S$2m Sept/Oct.

  8. #2228
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    Sounds like gong Xi gong Xi and add up to 8.

  9. #2229
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    Quote Originally Posted by triproton View Post
    Went to see the unit last year Sept/Oct. It was asking for about S$2m. I didn't know about the unit number until I arrive there..I think the unit number is a major contributor to the low price. Also, it's very very noisy as it fronts the very busy Paterson Road. I didn't consider it further due to the noise and the unit number. So, it looks like the transacted price is 16% lower than the asking of S$2m Sept/Oct.
    How superstitious can one be? Why would the unit number matter unless you are so superstitious and so...

  10. #2230
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    LUMIERE MISTRI ROAD Apartment 02 CCR 99 yrs lease commencing from 2006 1 1,132,260 678 Strata 06 to 10 1,670 May-14

    This is a good psf for that location. I think seller make a loss?

  11. #2231
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    Quote Originally Posted by stalingrad View Post
    How superstitious can one be? Why would the unit number matter unless you are so superstitious and so...
    I am personally not, but there is a good chance that the next buyer will be and I will have trouble selling it just like the owner of #04-04 without a significant discount..So, I will try to avoid inauspicious numbers if I can.

  12. #2232
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    was reported 3 weeks back.

    http://www.condosingapore.com/forums...postcount=2184


    Quote Originally Posted by Learner View Post
    LUMIERE MISTRI ROAD Apartment 02 CCR 99 yrs lease commencing from 2006 1 1,132,260 678 Strata 06 to 10 1,670 May-14

    This is a good psf for that location. I think seller make a loss?

  13. #2233
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    Quote Originally Posted by bargain hunter View Post
    Thanks hunter. Missed your earlier post.

    Still think buyer got a good deal for that psf, despite this softening market

  14. #2234
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    Quote Originally Posted by Werther View Post
    Hi Hunter

    wow, it was indeed sold at a good price. However, this unit different from the one advertised cos that unit was 1700 sq ft, asking for $2M.

    Hope catsick bought it. Congrats!
    I didnt buy it , wasnt big enough for the wife ! and slightly negative on the location , but it was a very good deal and the owners had spent a lot on decent renovation so the loss for the seller even bigger, there are many other good deals out there and we are still looking !

  15. #2235
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    wah 2100 sq ft still not big enough.

    Quote Originally Posted by catsick View Post
    I didnt buy it , wasnt big enough for the wife ! and slightly negative on the location , but it was a very good deal and the owners had spent a lot on decent renovation so the loss for the seller even bigger, there are many other good deals out there and we are still looking !

  16. #2236
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    A unit in the tomlinson also just traded , very good value too , I looked at this unit , second floor nice but possibly a bit noisy for my liking . Sold at 4.45 million 1896 psf on the URA , the agent told me the owner had paid over 6 for it so a very big loss , he was a European moved back home and desperate to sell apparently .. this was a very good deal , very big loss I am sure !!

  17. #2237
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    the agent lied.

    Sold 2 JUN 2014 20 CUSCADEN ROAD #02-01 2,347 sq ft 1,896psf
    Bought 28 DEC 2006 1,849psf

    could not cover stamp duty but a small net loss only.


    Quote Originally Posted by catsick View Post
    A unit in the tomlinson also just traded , very good value too , I looked at this unit , second floor nice but possibly a bit noisy for my liking . Sold at 4.45 million 1896 psf on the URA , the agent told me the owner had paid over 6 for it so a very big loss , he was a European moved back home and desperate to sell apparently .. this was a very good deal , very big loss I am sure !!

  18. #2238
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    For those units paid In full n cravat not lodged with ura . .how to track the price? Just wondering. .

  19. #2239
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    Quote Originally Posted by Yuki View Post
    For those units paid In full n cravat not lodged with ura . .how to track the price? Just wondering. .

    1st of all, even when unit is not paid in full, it may still not have any caveat. A "caveat" is nothing more than a claim. you dun HAVE to lodge a caveat.

    when a caveat is not lodged, or title not registered (less likely), the only way to get a record is through property agency's own record (that is, if the deal involves agent). Before SRX, you have to check individual agency. Now with SRX, it has most of the agencies in it so you can check through it. They have an app, very convenient.

  20. #2240
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    Quote Originally Posted by amk View Post
    1st of all, even when unit is not paid in full, it may still not have any caveat. A "caveat" is nothing more than a claim. you dun HAVE to lodge a caveat.

    when a caveat is not lodged, or title not registered (less likely), the only way to get a record is through property agency's own record (that is, if the deal involves agent). Before SRX, you have to check individual agency. Now with SRX, it has most of the agencies in it so you can check through it. They have an app, very convenient.


    Hello AMK

    can you let us have more details on this SRX... we can download from our iphone? how does it work, do we need to pay? tks

  21. #2241
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    Quote Originally Posted by Werther View Post
    Hello AMK

    can you let us have more details on this SRX... we can download from our iphone? how does it work, do we need to pay? tks
    it's just a simple app, you can download it from app store. the interface is in fact quite nice, much better than the "official" URA one. the app itself is free. the data access is of course not. It basically merges URA records with agency data. Not only it has some data that URA does not have, its records are also more updated, as every deal closed by agent is in the db, before it is lodged in URA.

    "do we need to pay" ... what do you think ?

  22. #2242
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    Yes the sale price was pretty close to their purchase price 8 years ago. Obviously it's a loss situation for them given inflation, stamp duty etc etc. But it was still a good buy


    Quote Originally Posted by bargain hunter View Post
    the agent lied.

    Sold 2 JUN 2014 20 CUSCADEN ROAD #02-01 2,347 sq ft 1,896psf
    Bought 28 DEC 2006 1,849psf

    could not cover stamp duty but a small net loss only.

  23. #2243
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    Looks like a "false buy" after all! too good to be true!

    Quote Originally Posted by An148 View Post
    Yes the sale price was pretty close to their purchase price 8 years ago. Obviously it's a loss situation for them given inflation, stamp duty etc etc. But it was still a good buy

  24. #2244
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    It's not a false buy. It's real. I bought it


    Quote Originally Posted by teddybear View Post
    Looks like a "false buy" after all! too good to be true!

  25. #2245
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    You probably don't even know which unit you said you bought!

    Quote Originally Posted by An148 View Post
    It's not a false buy. It's real. I bought it

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    Why wouldn't I know? I really am the one who bought the unit.


    Quote Originally Posted by teddybear View Post
    You probably don't even know which unit you said you bought!

  27. #2247
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    Dont need argue, it was me who brought it

  28. #2248
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    wanted to post this a month ago but the forum kept going down.

    sentosa fire sales, the 2 units which were bought at the peak in 2007 for >7m are now being put up for mortgagee sale at 4m negotiable (-43%):

    http://www.propertyguru.com.sg/listi...sale-turquoise

    http://www.propertyguru.com.sg/listi...sale-turquoise

    anyone can help? 1440psf NEGOTIABLE!

  29. #2249
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    an example of how you can bargain down on a mortgagee sale:

    reflections #16-82 (1292 sq ft) was put up for mortgagee sale for quite awhile with no takers.

    bought 22 Aug 2011 2222psf
    sold 7 Jul 2014 1522psf

    >30% off purchase price and the seller still has to pay SSD!

  30. #2250
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    Reflection is going to continue to reflect.

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