2+1 Unit Fire sale at 600k!!! Good buy?

[jwong71]

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

[Mu]

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...

[teddybear]

Didn't I say property market will crash if they don't loosen CM?

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...

[star]

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.

[peterng8]

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....

[peterng8]

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.... would rather see other deals in other locations in time to come ...

[jwong71]

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

[leesg123]

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...

[jwong71]

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

[Ringo33]

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.

[eng81157]

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

[Ringo33]

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.

[eng81157]

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??

[RCT]

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.

[Ringo33]

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.

[eng81157]

Originally Posted by Ringo33
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

[eng81157]

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

[xebay11]

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.

[Trevortan]

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]

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...

[jwong71]

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]

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

[Ringo33]

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.

[jwong71]

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…

[sherlock]

same unit.. but many ads…

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.

[RCT]

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...

[jwong71]

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

[jwong71]

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..?

[Singleton]

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

[jwong71]

Maybe a typo error.

Sometimes this happens

we called and confirm for viewing as well