Results 1 to 6 of 6

Thread: COV for private property

  1. #1
    Join Date
    Jun 2009
    Posts
    79

    Default COV for private property

    It's amazing how high HDB prices have risen, with COV reaching new highs each mth. I would like to know how does this COV apply to private property? Ie., if the valuation of my place is 900K, is it reasonable in this current market to sell at say, 950K? Taking into considering my whole place was newly renovated less than 6mths ago. My agent is telling me its hard to sell at 950K as all the enquiries (over phone only) she got were only willing to pay 900K max. Is this the case for anyone else here selling your private property? ... that you managed to sell only at valuation, or higher? Your inputs are greatly appreciated! tks...

  2. #2
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    In a rising market, transacted price is always above valuation (since the valuation is based on average of last few transactions in the estate or surrounding comparable condos). Don't be fooled by agents who wants an easy job of pocketing the commission from you with minimum effort (since selling at last transacted price or at valuation is so easy to get transacted in a rising market).

    Quote Originally Posted by penguin
    It's amazing how high HDB prices have risen, with COV reaching new highs each mth. I would like to know how does this COV apply to private property? Ie., if the valuation of my place is 900K, is it reasonable in this current market to sell at say, 950K? Taking into considering my whole place was newly renovated less than 6mths ago. My agent is telling me its hard to sell at 950K as all the enquiries (over phone only) she got were only willing to pay 900K max. Is this the case for anyone else here selling your private property? ... that you managed to sell only at valuation, or higher? Your inputs are greatly appreciated! tks...

  3. #3
    Join Date
    Jan 2010
    Posts
    3

    Default

    Quote Originally Posted by teddybear
    In a rising market, transacted price is always above valuation (since the valuation is based on average of last few transactions in the estate or surrounding comparable condos). Don't be fooled by agents who wants an easy job of pocketing the commission from you with minimum effort (since selling at last transacted price or at valuation is so easy to get transacted in a rising market).
    You could also consider `motivating' your agent by offering a graduated commission system where if at valuation or a reserve px set by you, he gets 2%. Any additional price, could be in % or absolute amt he managed to close for you, you share it with him.

  4. #4
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by penguin
    It's amazing how high HDB prices have risen, with COV reaching new highs each mth. I would like to know how does this COV apply to private property? Ie., if the valuation of my place is 900K, is it reasonable in this current market to sell at say, 950K? Taking into considering my whole place was newly renovated less than 6mths ago. My agent is telling me its hard to sell at 950K as all the enquiries (over phone only) she got were only willing to pay 900K max. Is this the case for anyone else here selling your private property? ... that you managed to sell only at valuation, or higher? Your inputs are greatly appreciated! tks...

    how i wish the agent representing the seller of a unit i am interested in would say the same thing...

    i said valuation only 1350 psf and agent said to me rising mkt .. so seller only willing to sell at 1650 psf ... how come agent never tell seller what your agent said to you ??

  5. #5
    Join Date
    Feb 2009
    Location
    峨眉山
    Posts
    5,512

    Default

    Agents are known widely to practise DUALITY.

  6. #6
    Join Date
    Nov 2008
    Posts
    197

    Default kruger

    COV reflects an imbalance between supply/demand and bank valuation.

    Banks try to keep valuation low in order to manage their risk.

Similar Threads

  1. Private Property is still affordable
    By Arcachon in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 24-03-21, 00:13
  2. Video : Private property forecast for 2014 by property guru
    By princess_morbucks in forum Singapore Private Condominium Property Discussion and News
    Replies: 4
    -: 14-02-14, 09:52
  3. Having a private property and HDB
    By xtreme_46 in forum Singapore Private Condominium Property Discussion and News
    Replies: 11
    -: 20-12-13, 17:38
  4. Harsh property cooling measures; slowdown in private property expected
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 08-12-11, 17:17
  5. Private property launches: they're still... HOT, HOT, HOT
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 17-03-10, 04:20

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •