Re: End of property boom in sight?
BEEP BEEP!! DANGER DANGER!!
Just received call from agent. 4 ARDMORE UNITS have been TRANSACTED AT ONLY $2500.
A drop from $3500(2007) to $2500(2008)
Dropping by $1000 is a sign of what??----> PANIC selling.
This is not April fool OK!! No kidding!!
Plenty more selling at discount. Others will follow soon!!
Will be in the URA May or June!! Just wait.
Wandering what will be URA report for 3rd quarter after this!!!
Re: End of property boom in sight?
ARDMORE II. sorry to add the II.Originally Posted by Unregistered
Hi, why do you go about attacking everyone who seem to have a different view from you?
I was only reacting to the report in the BT. This is an open forum, anyone can share his opinion. What is the matter with you?
Shows how he is panicking. STuckkkkkkkkkkkk ohhhhhhhhhhhhh stuckkkkkkkkk.
Oh my God saw the rumours on Tulip forum. Go have a look.
OH TUNE IN TO CNBC NOW AND SEE BERNANKE TESTIFY
Re: End of property boom in sight?
No need to wait till May caveat.
In fact the panic started long ago.
Goto:
http://www.ura.gov.sg/realEstateWeb/...ubmitSearch.do
$2580 Ardmore II transacted on FEB already.
seems like "The panic" has started long ago.
Still want to call me GREEN!!!
Go to
http://www.ura.gov.sg/realEstateWeb/...ubmitSearch.do
STILL WANT TO DENY AH?? THIS IS NO RUMOURS OK!!
I am the same poster of #423. It is a fact that the property market is dead quiet, even for rental. One of my neighbour has been trying to sell her unit since December. There were people who came to see sporadically but that is pretty much it. They had another fairly new unit in D10 for rental. Already 1 month gone, no offer.
OMG ITS HAPPENING SUDDENLY. BIG PLUNGE SOON.
YOu mean not even a offer? Rent also no interest? I think many buyers were scare off during the last round when sellers were asking high prices...I think for any serious sellers, you need to put a realistic price tag on the papers so as to draw interested buyers that you are serious in selling...
#431, I don't know the details, but they said they are only asking for "valuation price".
The sellers started getting greedier by the day and turned away many genuine buyers. Now they cry stuckkk ohhh stuckkkkk.
Finally the game coming to a close. No sound from the panic stricken morons whe were shoting buy buy. Fair end to the game. Buyers market already.
Chhers to all new buyers. Many good deals coming.
OOOHHH STUUCCKKK.... OOHHHH
POOR ME, INSTEAD OF MAKING 2 MILLION, THERE'S A CHANCE THAT I'LL ONLY MAKE 1.8 MILLION....
OHHHH STUCKKKK....
HELP ME..... I AM ONLY GETTING 8% YIELD ON MY PROPERTIES... HOWWW? HELP ME.... OHHHHHH
Yessssss in another month 1.8M will be 0.8. With that buy a condo facing the sea or reservoir so you can jump in it when it falls even down.
Ummm... Do you know that just by that statement, we can already infer that the market is well supported by many would be buyers on the sidelines?
This does make it unlikely for the market to fall significantly. A drop of 5-10% and your fellow competing buyers would snap it up. How the market crash like that?
Perhaps you buyers can totally ignore the market for a couple of years? Then perhaps there is a real chance for the market to correct significantly.
Of course, the risk to you then is that other buyers continue buying and you are left behind once again when the prices rise. Your call...
yes when price drops 40% sure you will see some movement.
OHHH... PERHAPS ONLY 0.8M... OHHHH NOOOO
PITY ME.... ONLY 0.8M.... I AM GOING TO STARVE!!!
OHHH STUCKKKK....HELP MEEEE
Re: End of property boom in sight?
Well, hope you have an arrangement with all the other buyers out there not to move till then.
If not, you might just be the only one left waiting for the 40% drop when they start buying..
Trust your fellow buyers out there to hold till then?
OH YOU DONT WORRY. YOU THINK OF RUSHING TO THE EXITS. A LOT OF BLOOD ON THE WAY SO PLEASE BE CAREFUL WHEN RUNNING. WEAR RUBBER BOOTS THAT DONT SLIP AND YOU GET A GOOD GRIP. RUN AS FAST AS YOU CAN BCOZ A LOT OF TRAMPLING GOING ON THERE.Well, hope you have an arrangement with all the other buyers out there not to move till then.
If not, you might just be the only one left waiting for the 40% drop when they start buying..
Trust your fellow buyers out there to hold till then?
Oh... Sorry, but I am not about to give up my place inside by exiting. Really sorry to you guys waiting to come in, but it's currently full. Do be patient, but be prepared to pay a higher entrance fee. I am sure you guys can afford it.
Haha thats what all who went before you said. Finally dropped their pants and ran. Atleast saved their underwear. Seems you dont mind losing underwear too. Which means a dreadful scene...
Re: End of property boom in sight?
NOT SO BAD BAH??? JUMP INTO THE SEA??LOL.
Don't keep repeating the same sentence over and over again. You said that 12 months ago.
He is such a good forecaster, can predict this 12 months ago.
Excuse me for saying so, but you are indeed quite green.
Let me, a seasoned property investor, teach you how to read caveats.
Firstly, you must stop using free-of-charge databases and sign up for the paid version of SISV Realink21 Caveat Database, where they will show you details like the floor and also which unit is being transacted.
I don't have the time to type out the whole thing here because it's very tedious, but just to give you some examples of transactions regarding Ardmore II.
The examples I use are mid-floor units because recently there had not been any transactions for the high-floor units.
Ardmore II
27 Dec 07 #10-01 : 2,024 sf at S$5,816,125 (S$2,874 psf)
3 Mar 08 #10-01 : 2,024 sf at S$4,242,231 (S$2,096 psf)
It's the same unit.
Before you get too happy again, jumping up and down, that the price has fallen by 27% in three months, let me tell you what is going on because you have obviously not bought a property before.
Even in the 1997 crash, the price doesn't decrease by 27% in three months, especially when the URA statistics in fact show that prices in the Core Central Region have gone up more than 4.4%.
What happened is that the "later" price of S$4,242,231 (S$2,096 psf) transacted on 3 Mar 08 is actually a duplicate submission of the caveat for the developer's sale to the first buyer (or speculator/flipper) when Ardmore II was launched in September 06.
Whereas the "earlier" price of S$5,816,125 (S$2,874 psf) transacted on 27 Dec 07 is the caveat for the speculator/flipper selling to another party as TOP nears.
Hence the flipper would have made $1,573,894 (or 37% profits) over a period of 1 years and 7 months.
Around the same time of the transaction, the lawyers for both transactions (i.e. developer vs flipper and flipper vs next buyer) will lodge the caveats, but sometimes one lawyer is slower (especially those that are on the bank's panel who are underpaid and which I have now stopped using, preferring to use my own even if they cost more), and the earlier caveat ended up appearing first.
Another thing is, you cannot compare high floor with low floor. Your free-of-charge caveat does not show the floor or unit. Those $3,000+ psf are on the very high floors. Unfortunately, there is no transaction for such units since the beginning of the year, so I can't compare.
Let me show you a few samples (before and after sub-prime). Since I am talking about mid-floor above (#10-01) let's choose some floors around this level.
Before Sub-Prime
15 Jun 07 #11-04 : 2,024 sf at $5,150,000 (S$2,545 psf)
After Sub-Prime
6 Feb 08 #11-01 : 2,024 sf at S$5,675,000 ($2,804 psf)
So what we see here is that prices are firm after sub-prime, if you compare units at the same level. This is also what the government statistics from URA showed you.
You can go and see other caveats like Newton Suites where you will find a lot of caveats being lodged recently at around $900+ psf when in fact everyone knows that the price of Newton Suites should be $1,800+ psf. Those $900+ psf actually refer to the developer's sale price to the speculator/flipper three years ago.
Let me show you three examples here.
Newton Suites
7 Jan 08 #27-01 : 797 sf at S$1,440,000 ($1,808 psf)
10 Jan 08 #30-01 : 797 sf at S$759,000 ($953 psf)
10 Jan 08 #17-03 : 1,238 sf at S$2,277,000 (1,839 psf)
To a green property investor like you, you may conclude that the price has plunged from $1,808 psf to $953 psf (47% "crash") within 3 days (from 7 Jan 08 to 10 Jan 08) and then within the same day (10 Jan 08) "surged" again to $1,839 psf 93% gain.
Let me assure you that I have been around for a long time, and have never seen property prices plunging by 47% within 3 days, nor rising by 93% within the same day.
I hope you have learned something. Every one starts out green but if you are humble and willing to learn, then one day you will also become a successful property investor like me.
Good night.
KEEP THE JUSTIFICATION TO CONSOLE YOURSELF. THE TREND IS THERE FOR EVERYONE TO SEE. HAHAHAHA IF YOU WERE SEASONED YOU WOULD BE RUSHING TO THE EXITS TOO.
GOODNIGHT
wooohahaha seasoned property investor....panicking when he saw all the bad news pop out......lol
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