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Thread: Southbank (D7, Leasehold, UOL Group)

  1. #31
    Doom Doom Guest

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    Fannie and Freddie: How the Fallout Could Affect You

    By Ron Lieber The New York Times | 12 Jul 2008 | 04:37 PM ET

    The stock market swoon over Fannie Mae and Freddie Mac this week has left many consumers scratching their heads, wondering if buying a home is a worse idea than it was seven days ago or whether to take down the “for sale” sign in the yard.

    So now is a good time to step back and assess the landscape.

    Thus far, the biggest damage has been mostly to Fannie’s and Freddie’s investors, though the overall stock market has recoiled as the companies stumbled. In the housing market, consumers are still moving into new homes, and people continued to close on new loans Friday.

    But if you are shopping for a home or a mortgage or considering selling a home, you may wonder what will happen next if things get worse for Fannie and Freddie. Will mortgage rates rise, and home prices fall further? Could the troubles affect the rates you are charged for other loans? Answering these questions starts with a brief (I promise) primer on what the two entities do and why they’re important.

    In the beginning, there’s a mortgage lender. It can lend you money it has taken in from deposits on checking accounts and certificates of deposit if it wants. But many lenders choose to sell most or all of their home loans once they make them, and then use the proceeds of the sale to make even more loans.

    Fannie Mae and Freddie Mac are the buyers for many of these loans, which makes them crucial to the continued ability of companies to lend money to you and me for a house. Freddie likens itself to a wholesaler supplying a retail store: the retail store is a bank selling money.

    Once Fannie and Freddie have bought enough loans, they turn many of them into bonds and sell those bonds to investors. Your mutual funds may hold many of them, something many consumers may just be noticing, after letting out a sigh of relief because they were not planning to buy or sell a home anytime soon.

    The mortgage financing system hums along until Fannie and Freddie have trouble raising money to buy loans, or it costs them more to raise the money. And that’s what is happening now. “That increased cost must be passed along; it’s the nature of the beast,” says Keith T. Gumbinger, vice president of the financial publisher HSH Associates, where he has tracked mortgage rates for more than two decades.

    The question then is how, if at all, any of these higher costs will be passed along through the mortgage lenders to consumers.

    As of Friday, not much had changed, and mortgage bankers were putting on a brave face. “It is business as usual, and rates have held steady for the past two days,” said David G. Kittle, chairman elect of the Mortgage Bankers Association and chief executive of Principle Wholesale Lending in Louisville, Ky. He said the company locked in rates for one buyer and two people who were refinancing on Friday morning, as the stocks plummeted, and that the hand-wringing over Fannie and Freddie amounts to a “media feeding frenzy.”

    Karen Shaw Petrou, managing partner of policy consultant Federal Financial Analytics, sees a remote possibility that mortgage rates could in fact fall. If the federal government took control of Fannie and Freddie, a possibility that the Treasury secretary, Henry M. Paulson Jr., seemed to discount in a statement Friday, the companies’ financing costs would probably drop some because government control suggests a government guarantee. Until now, the government has provided credit lines to the companies but stopped short of such a promise.

    Many mortgage experts, however, expect rates to rise a quarter percentage point to half a point in the coming weeks. The average rate on Thursday for a prime 30-year fixed-rate nonjumbo mortgage was about 6.45 percent for someone not paying special fees known as points to lower the rate, according to HSH Associates data. That kind of spike wouldn’t be too unusual at a time when rates often rise and fall by at least that much over a period of weeks, for any number of reasons.

    Over the longer term, a dysfunctional Freddie and Fannie could send mortgage rates higher than they would have been otherwise, relative to key market rates like Treasury securities.

    For now, if you’re considering buying a house or refinancing a mortgage, and that rate rise is enough to make a difference, then maybe the deal is not affordable. “If someone is so tight that a quarter point kills a deal, they probably ought to be rethinking what they’re doing,” says Bert Ely, a banking consultant in Alexandria, Va.


    For mortgage shoppers comfortable with loans at today’s prices, now is the time to lock in, or guarantee, an interest rate with the lender, which can effectively set the rate over the life of a fixed-rate loan. Given the current uncertainty, there’s always the possibility that lenders will be less willing to offer rate locks in the coming weeks.

    Outside the mortgage industry, there is some concern that a further crippled Fannie and Freddie could make it harder for consumers to borrow in all forms. “There is a contagion effect. If investors in various kinds of loans get concerned about one kind of capital market, it can spread to other markets,” said Mark Kantrowitz, who runs the college financing site FinAid.org and saw this firsthand in student loans over the past year or so. “They tend to pull back from everything, not just their initial area of concern.”

    All the consternation this week only highlights how much rests on the value of our homes and shows that loan pricing and availability can keep the value from falling further. “The implications run everywhere, through to consumer spending and state and local governments,” said Mark Zandi, chief economist of Moody’s Economy.com. “Anything that exacerbates the problem is very bad news. It’s just sticking a finger into an already deep and festering wound.”

    Mr. Zandi said he thought the federal government would step in to stabilize the situation if mortgage rates rose much more than that quarter or half point.

    The government might take any number of steps to buck up the two ailing entities. The bonds that Fannie and Freddie sell are held all over the world, by mutual funds and foreign governments. Any hint that those securities are in peril could further undermine faith in the United States economy, given that Fannie and Freddie were created and chartered by the American government.

    In an election year, meanwhile, with the housing market already lousy in most places, the federal government will almost certainly do everything in its power to make sure that banks have continued access to Fannie and Freddie funds for loans to creditworthy home buyers.

  2. #32
    Interested Buyer Guest

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    Quote Originally Posted by buy value
    if dakota and clover and the rest can be priced at that kind of price, then this southbank is severely undervalued!
    SouthBank... how much asking? Lavender is "infamous" for the casket houses... may be that's why... less interest.

    But location good. MRT nearby.

  3. #33
    Fúck You Redneck Guest

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    Quote Originally Posted by Doom Doom
    Fannie and Freddie: How the Fallout Could Affect You

    By Ron Lieber The New York Times | 12 Jul 2008 | 04:37 PM ET

    The stock market swoon over Fannie Mae and Freddie Mac this week has left many consumers scratching their heads, wondering if buying a home is a worse idea than it was seven days ago or whether to take down the “for sale” sign in the yard.

    ....................

    In an election year, meanwhile, with the housing market already lousy in most places, the federal government will almost certainly do everything in its power to make sure that banks have continued access to Fannie and Freddie funds for loans to creditworthy home buyers.
    Fúck you redneck. Fúck off to your land of bush.
    Shemale from the US like you is not welcomed here.
    This is CONDOsingapore.com - not a place for your bullshit.

  4. #34
    DC33 Guest

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    SOUTHBANK VALUATION PRICE FOR HIGH FLOOR IS ABOUT $1150 PSF NOW. IT SHOULD HAVE GOOD POTENTIAL AS IT IS NEARER TO CITY, NEXT TO MRT AND HAS GOOD VIEW.

  5. #35
    Interested Buyer Guest

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    Quote Originally Posted by DC33
    SOUTHBANK VALUATION PRICE FOR HIGH FLOOR IS ABOUT $1150 PSF NOW. IT SHOULD HAVE GOOD POTENTIAL AS IT IS NEARER TO CITY, NEXT TO MRT AND HAS GOOD VIEW.
    99 LH? any info I can find on website.

  6. #36
    Smarian. Guest

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    Latest listing on Southbank is around 950 to 980 psf.
    Price is going south.

  7. #37
    Interested Buyer Guest

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    Quote Originally Posted by Smarian.
    Latest listing on Southbank is around 950 to 980 psf.
    Price is going south.
    About same price as Dakota. which is better? Any views?

  8. #38
    Unregistered999 Guest

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    it's located very near to thai community and many blocks of one room flat for old folks...

  9. #39
    Interested Buyer Guest

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    Quote Originally Posted by Unregistered999
    it's located very near to thai community and many blocks of one room flat for old folks...
    So means? Good?

  10. #40
    Down Down Guest

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    Singapore c.bank sees more downside risks to markets
    Mon Jul 14, 2008 6:37am EDT

    SINGAPORE, July 14 (Reuters) - Singapore's central bank said it is closely monitoring financial markets in the wake of the crisis surrounding U.S. mortgage giants Fannie Mae and Freddie Mac, and warned of big downside risks in global markets.

    "Significant challenges and downside risks in the international financial markets remain and financial institutions and investors should stay vigilant," the Monetary Authority of Singapore (MAS) said on Monday.

    "The direct impact of the credit crisis on financial markets and financial institutions in Singapore has been relatively modest so far," the central bank said.

    Singapore's Straits Times stock market index .FTSTI has fallen 16 percent this year. The country's three banks have suffered relatively modest writedowns on their debt investments as a result of the credit crunch.

    The U.S. Treasury and Federal Reserve called on Sunday for sweeping measures to lend money and buy equity, if necessary, in Fannie Mae and Freddie Mac, which own or guarantee $5 trillion in debt -- close to half the value of all U.S. mortgages.

    The U.S. government plan to bolster the government-sponsored mortgage financiers helped calm markets on Monday, but did little to allay fears about the health of the U.S. financial system.

    The MAS declined to comment on whether any of Singapore's foreign reserves are invested in debt from Fannie and Freddie.

    Singapore had about $177 billion in its foreign reserves as of the end of June.

    Foreign central banks, mostly in Asia, hold $979 billion of the $5 trillion bonds and mortgage-backed bonds sold by Freddie and Fannie.

  11. #41
    DC33 Guest

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    You may want to look at URA caveat for southbank. It is above a $1000psf depending on which level. Thailands will be leaving as Golden Mile will be torn down. The flat may not stay for long as beach road is going to be next happening area. Was at ICA last week and went to the foodcourt next to the development. Looks rather nice and tidy. You may want to go to the flat nearby and enjoy the view and breeze. you can go to skyscraptercity.com to view southbank.

  12. #42
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    Have a look at The Business Times 17 July 2008 - Property transactions with contract dates between June 30 and July 5, 2008.

    The Citylight is transacted at 599psf for 1356 sqft unit. 718psf for a 893sqft unit.
    Attached Images Attached Images

  13. #43
    Interested Buyer Guest

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    Quote Originally Posted by bliss
    Have a look at The Business Times 17 July 2008 - Property transactions with contract dates between June 30 and July 5, 2008.

    The Citylight is transacted at 599psf for 1356 sqft unit. 718psf for a 893sqft unit.
    So low. I thot asking is abt 1100 psf.

  14. #44
    Please Guest

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    Property market is heading south. Hold tight!!!

  15. #45
    Unreg888 Guest

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    Quote Originally Posted by bliss
    Have a look at The Business Times 17 July 2008 - Property transactions with contract dates between June 30 and July 5, 2008.

    The Citylight is transacted at 599psf for 1356 sqft unit. 718psf for a 893sqft unit.
    Those are the original developer's prices for units whose caveats were just lodged on resale. The usually transacted prices are between $1K+ to about $1.3K for unblocked high floors.

  16. #46
    DC33 Guest

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    Unreg888 is right! It cannot be so cheap if Dakota Residence is already selling at $1077 for high floors (max 18 floors).

  17. #47
    Please Please Guest

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    Quote Originally Posted by Please
    Property market is heading south. Hold tight!!!
    Property market is heading north again. Hold tight!!!

  18. #48
    Unreg¡stered Guest

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    Quote Originally Posted by Please
    Property market is heading south. Hold tight!!!
    Quote Originally Posted by Please Please
    Property market is heading north again. Hold tight!!!
    Talking cock is free.

    One says going south.
    One says going north.

    Both are talking cock.

  19. #49
    Pro Guest

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    Quote Originally Posted by Unreg¡stered
    Talking cock is free.

    One says going south.
    One says going north.

    Both are talking cock.
    We like to talk wat... what's wrong....

  20. #50
    Livia Guest

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    Quote Originally Posted by DC33
    Unreg888 is right! It cannot be so cheap if Dakota Residence is already selling at $1077 for high floors (max 18 floors).
    BUY LIVIA LIVIA...!!!

  21. #51
    DC33 Guest

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    But Livia is so far away from CBD and not very near MRT. Location is still very important!

  22. #52
    Unregistered999 Guest

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    Quote Originally Posted by DC33
    But Livia is so far away from CBD and not very near MRT. Location is still very important!
    agree. livia said that it is near MRT but when i drove around there, i find that it is not at all near to the MRT. i also doubt its claim of 8 mins walk to MRT; if you want to make it 8 mins, you will probably be panting when you reach the MRT

  23. #53
    yes Guest

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    Quote Originally Posted by DC33
    But Livia is so far away from CBD and not very near MRT. Location is still very important!
    And very a long drive to CBD too for Livia

  24. #54
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    What would be a fair price for this project??

  25. #55
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    Tink for southbank, price differs on which stack n floor level...Hv seen the site plan, I would say, stack 08 is the best, in terms of views and location..

  26. #56
    DC33 Guest

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    Quote Originally Posted by kal
    Tink for southbank, price differs on which stack n floor level...Hv seen the site plan, I would say, stack 08 is the best, in terms of views and location..
    You may want to go to http://www.skyscrapercity.com/showth...358211&page=26 to view the model and layout of southbank. It is a very informative site.

  27. #57
    ?? Guest

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    Quote Originally Posted by DC33
    You may want to go to http://www.skyscrapercity.com/showth...358211&page=26 to view the model and layout of southbank. It is a very informative site.
    is the address correct? couldn't get in.

  28. #58
    BP Guest

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    Quote Originally Posted by ??
    is the address correct? couldn't get in.
    You can go to http://www.skyscrapercity.com/forumdisplay.php?f=399
    Look for Private Residential Projects (30 floors or more). Southbank should be there.

    Good Luck!

  29. #59
    737 Guest

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    Dont quite fancy Livia (though like the idea they open up the 2 common bedrooms into one) nor Clover By The Park. Kovan Residences' definitely a better choice.

    Anyway, never favour CDL's projects, second only to FEO. FEO's quality though not exactly favoured due to historical reasons, the company is at least showing some efforts to be "creative" in designs. Big players who have the resources which dont put more efforts into their designs, in a way, reflect their commitment to their customers.

  30. #60
    11 Guest

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    Private housing market colleapsing very soon, by end year prices will go down by at least 30%, why buy anything now?

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