ok - launch price varies btwn $1200 to $1500 psf. It seems $1100 is below launch price?Originally Posted by dmon
ok - launch price varies btwn $1200 to $1500 psf. It seems $1100 is below launch price?Originally Posted by dmon
launch price for some blocks were around $900 psf...there were 2 launches made by developers. prices you quoted were during the second launch. of late it has been so quite....decreasing activities in forum. And those active in forum are mainly the house hunters.Originally Posted by spikey69
Anyone selling any units here? What is the price?
I hear there are still many units unsold and with prices set to drop 10-25% this year, I hope to catch someone cashing out.
if I am not wrong the unsold units are the noon sun facing onesOriginally Posted by oxboy99
From the new units sold page from URA, there are 28 out of 486 units by the developer left. Keppel Land is strong financially and probably won't cut prices by too much (1200 to >1400psf). There are probably better bargains to be found in the second hand market asking at 1150 to 1300.
i fully agree that better bargains from the second hand market esp. those units facing the new mosque....Originally Posted by bargain hunter
To be fair, the new building, which is easily more than 10 storey tall, is not a mosque as that section is gazetted for residential use. in fact, it is rumoured to be owned and developed by a rich arab investor for his own family's use. I think that kind of highlights the long term value at Park Infinia than the other way round. I am actually more concerned about the units which are facing the current construction noise of VIVA which when built up will ultimately block them. I am waiting for bargains at Blocks 2 and 2A more than Block 6 and 6A.Originally Posted by dmonddd
great if it's not..but try asking the worker. I did and that's the reply. Without approval? I'm a light sleeper. And hence it would be a huge problem. for the young ones as well.Originally Posted by bargain hunter
today's article on valuer's valuation price very much below that of seller's asking price, would push away buyers.Originally Posted by dmon
Option price paid to agent and bank later revert with lower valuation price, would force the buyers to place high downpayment amount.
Sellers nowadays may need to show latest valuation price if they wish to call their prices. For house buyers out there, please be cautious. Call for documentary evidence.
Yes its very true but sad for sellers. I have viewed a few units though the agent from mouth says $1.Xm which I did not ask for the documentation but I did my own due diligence with the mortgage specialist with a bank which gave much lower valuationOriginally Posted by dmonddd
suggest all house buyers to ask agents whether there's latest valuation. Otherwise, all house buyers are looking at unrealistic sellers. dont bother to view. this current market we strongly require the expertise's opinion, i.e. the valuer to guide the bank. sellers and buyers are men on the street. hope all remember that.Originally Posted by dtrax
It is no point to ask agents for latest valuation. I have an experience to ask valuation for my property from 2 banks recently. One quoted 1.2M and the other quoted 1.4M. I don't think there is any expertise here.Originally Posted by dmonddd
My personal opinion is that the buyers should do their homework to check from all sources available what price is fair to purchase and the most importantly how much the bank can lend?
things need to change. otherwise why are they earning commissions? i can ask any uncle or ah pek to sell property if buyer does all. you fail to see the point of the wide expectations from buyer and seller. agent comes in as professional with expert opinion from valuers and bank.Originally Posted by dormer
did you ask for a written valuation or a verbal one? it should be a written one as a seller. buyer will definitely need to do their homework as well and ask from valuer and bank so that financing is not a problem after paying option price. this is to bring two transacting parties to senses and closure of the deal. otherwise, seller can slow slow wait as buyer will never be able to get financing at high prices without strong supporting evidence. that differentiates a real winner seller from a passive loser one. The former makes transaction happens.
Banks nowadays reduce the valuations because the recession is expected to be very deep and long.
Therefore, the prices need to be realistic so that the buyer does not overpay and later is unable to service the mortgage when they lose business/job.
It is true that valuations are a sort of black magic and fluctuate depending on who you talk to. But a variance of a few hundred thousand for a million dollar property is not unusual. Of course, if you are paying the price, it's a lot!
but nobody seems to know what's that white building near the temple. I did ask the worker and he told me that it's for praying. Buidling structure looks like a mosque.
If anyone is viewing any unit/staying in Park Infinia and knows exactly the use of the building, please pm me. otherwise rental will dip as i'm looking at park infinia for investment and later for own occupation.
Indeed so. I took a closer look after you mentioned the other day, I think its 50:50 whether its a mosque or residential. I figured that for that "lobby" like area, if they do pray there but don't use any loudspeakers, Park Infinia residents probably won't be too affected. Its the small developments that are surrounding it that will be affected more. It would also be something new to have a > 10 storey mosque.Originally Posted by dmonddd
Looks like we have the same idea, buy a unit at park infinia for investment and later for own occupation. In any case, we can always wait for H2 of this year, maybe the property market will be lower then and its also clearer whether the building is a mosque or not.
great to know someone within the hunting team is observant as well.Originally Posted by bargain hunter
If it's a mosque or a religious teaching school, i may not consider park infinia at all as Keng lee is a pretty narrow and a-one way street but good exit. And fridays will always be packed. Same for thursday night. that will increase my "dislike" level for this project as the other exit roads are already narrow and busy, esp. coming in through United square.
Now that u mentioned it, it is more likely to be a religious school than a mosque or residential. Don't worry about Keng Lee road though, unlike the temple, the entrance to that building's underground carpark is along Suffolk Rd. Park Infinia also has another exit, can exit from Suffolk Walk to Thomson Rd easily so should not be an issue.Originally Posted by dmonddd
just got this info from an agent:
Pi transactions :
26/11; stk 2, 3 bdrm, #12-03, 1442 sq ft, 1.53mn, 1061psf
22/10, stk 6, 4 bdrm, #03-11, 2002 sq ft, 2.5mn, 1250 psf
21/10, stk2, 3 bdrm, #18-01, 1464 sq ft, 1.83mn, 1250psf
at this rate , looks like it can go down to 2005 prices..
Originally Posted by dormer
Hi bro, just to highlight... Since you need to know what would be the possible and rightful value of your property which is gonna be evenutally supported by the banks for buyer's loan application, then you will need to get your agent to check with the bank for a "FAIR MARKET VALUE" rather than to ask for a valuation of your property.
I used to ask for valuation from the banks, but have since stop and ask them for a Fair Market Value instead which I assess the value against the market situation and transaction from there on.
You might just wanna try this method out first.
Pet
looks like petmail is a season player... thanks for the update to juniors. cheersOriginally Posted by Petmail
wow...thanks bargainhunter. You really know your way round the place. you sounds like you are staying in Park infinia. cheersOriginally Posted by bargain hunter
Originally Posted by dmonddd
Compared to most of you guys... am still a new bird... I knew cos I did some research around just to keep my clients updated as i do not wish them to sell above the fair market value which may eventually result them in selling at a lost.
Pet
Petmail is a seasoned property agent who needs sellers to lower expectations so that he has something to sell.Originally Posted by dmonddd
Without sellers actually selling down, there will be no transactions and Petmail will have no rice to eat.
This stalemate is no good for Petmail's ricebowl.
The best agents are flexible two-faced hypocrites. They know when to stand on buyers side or sellers' side.
No offence, just calling a spade a spade.
Being civil doesnt count nowadays.
Esp not with Ahladin who seemed to be in this forum - in every thread - telling everybody to sell at 1990s prices .. Btw - even if they are willing to sell - would you have the $$ to buy?
No offence, just calling a spade a spade.
Originally Posted by ahlahdin
I wish I was staying there (buying at 1st launch prices of course). I did visit the showflat then with my friend and noticed the benfit of the big land area development having 2 entry/exits and multiple road entrances which led to the main entrance. My friend bought one of the lowest psf units and flipped out for a more than 60% profit. I had no money then and still do not have enough if prices remain where they are now hee.Originally Posted by dmonddd
given the surrounding projects under construction (noise pollution), uncertainty in the property market on direction, lower and lower fair market value, difficulty in getting bank financing, more job cuts, i'm opting for other projects.
my good friend once told me this: when we are in economic downturn, if you can afford it, drive your dream car.
look's like I be hunting for projects one up Park Infinia at Park Inifnia's current prices.
yeah, if u can afford it, go for D9 and 10 or the evelyn side.Originally Posted by dmonddd
Originally Posted by bargain hunter
both of you good choice good taste...
Pet
Originally Posted by ahlahdin
I dun advise sellers to sell down nor need clock transactions this way.. if you are looking to buy a property fair market value is $1mil. would you pay $1.2mil to buy? buyers always wanna buy low while seller wishes to sell high, thus needing us to advise them about the market changes and the rightful price rather than let them price it unrealistically. the seller may even wanna pay me 10% commission but would i be able to close the transaction for him? it is never profitable for me to take up the exclusive or the business even after knowing the product is not sellable.
Pet