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Thread: Northwood

  1. #61

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    Quote Originally Posted by kurby
    U mean the 3 transactions that we have seen so far are the only sub sale that Northwood has?

    Wow....looks kind of hard to sell but then again maybe most bot for own stay hence all not selling....
    Most owners actually bought for own stay (80-90%), but are willing to let go if there is decent profit, >680psf. But as I mentioned, bank valuation is low and hence the owner may not even get 80% loan if they are on DPS (Bank may give first owner full valuation). Not sure how many buyer willing to fork out $70-80k on top of valuation to buy an unit in Northwood. Even if the owner try to cut loss by rental, not sure can get $2 per psf, then need to top up payment on top of rental to cover bank instalment. All this purely my guess.

    If you are interested in Northwood, wait 1-2 years before you buy. E.g. Sensoria several sub-sales is getting closer to Seletaris even though it is a much newer estate. My guess again but don't when the price cheong high high .

  2. #62

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    Quote Originally Posted by Lao Hu
    Most owners actually bought for own stay (80-90%), but are willing to let go if there is decent profit, >680psf. But as I mentioned, bank valuation is low and hence the owner may not even get 80% loan if they are on DPS (Bank may give first owner full valuation). Not sure how many buyer willing to fork out $70-80k on top of valuation to buy an unit in Northwood. Even if the owner try to cut loss by rental, not sure can get $2 per psf, then need to top up payment on top of rental to cover bank instalment. All this purely my guess.

    If you are interested in Northwood, wait 1-2 years before you buy. E.g. Sensoria several sub-sales is getting closer to Seletaris even though it is a much newer estate. My guess again but don't when the price cheong high high .
    Some past buyers are in serious trouble... be patient... this project is for self stay folks... You have to like the helicopter noise to stay there.... rumours has it that the camp may be moved but it is at best rumours.. anything is possible.

    Fire is burning...
    Last edited by Condorich; 31st August 2009 at 11:25 AM.

  3. #63

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    I wonder how should I go about looking for desparate sellers?

    Shd I try to get a unit before TOP or wait after TOP....but of course wife would like to get the house brand new...which is why we ar eskewed towards new condo.....but fo rme I am open to resale (especially if it can be 20% lower in cost...can use that 20% to do some real nice renovation...)

    I doubt the camp will move....it is an extremely huge camp...linked all the way to gambas and woodlands ave 2....maybe the unit will move but not the camp....

  4. #64

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    1) Try combing the SAT's classifed and do cold calls..., especially those listed as fire sales or call owner.

    2) Next, leverage on a extremely well connected agent to provide you with the leads.. pay him well if a deals comes through.

    3) Just go and view the available listings... if it is suitable, do you own background checks on the owner... where he/she stays, his joint income level etc... some are quite obvious (cannot afford or buy for investment without the means) where others needs some more work. Agents would most probably tell you that they must sell or not.

    4) Link up with developer and banks... owners in distress are in their radar.

    5) Advertise that you are a buyer looking for bargains. Wait for sincere owner to call.

    Lastly, you will need luck as a good deal will most probably go to the agent themselves or a related party. Why share when they can have a piece of the pie? If ever... be PATIENT!..... that has been proven to be most effective. If you need a new unit.... buy around TOP time where owners are supposed to complete the loan. A bargain may appear if they are unable to do so.

    Don't bother about the camp... it is rumours and it should stay for a pretty long time since they are doing some construction work at the seletaris side.... but if it is going to be moved, the airbase could be moved to seletar area.... there's an existing camp there... and the area is huge!

  5. #65

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    Thanks for the info....

    How do we check on the income level of the seller? Will the agent disclose the name of the sellers?

  6. #66

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    Quote Originally Posted by kurby
    Thanks for the info....

    How do we check on the income level of the seller? Will the agent disclose the name of the sellers?
    That is something you have to work on...

    Sometimes it is easy to get when you know how and where to get.. seller's name can be obtained from developer's register.. provided they are going to release it to you... you have to do some work. Otherwise... you will not be rewarded with that fire sales...

    Many ways to check on income, just legal or not... legal way, go buy a credit report if the name of owner is available.

    A very easy way is to offer fire sales prices...for all viewings, if the owners are desperate... they will contact you. No need much work but you will lose a lot of face.
    Last edited by Condorich; 31st August 2009 at 03:06 PM.

  7. #67

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    Quote Originally Posted by Condorich
    That is something you have to work on...

    Sometimes it is easy to get when you know how and where to get.. seller's name can be obtained from developer's register.. provided they are going to release it to you... you have to do some work. Otherwise... you will not be rewarded with that fire sales...

    Many ways to check on income, just legal or not... legal way, go buy a credit report if the name of owner is available.

    A very easy way is to offer fire sales prices...for all viewings, if the owners are desperate... they will contact you. No need much work but you will lose a lot of face.
    Thanks Condorich.

    Am willing to work on it...just clueless on where to start....especially getting the name part

    Right now sure will kanna from agents if we offer fire sales price....but of coz no harm trying if I really wanna get a goo dprice....

  8. #68

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    Quote Originally Posted by kurby
    Thanks Condorich.

    Am willing to work on it...just clueless on where to start....especially getting the name part

    Right now sure will kanna from agents if we offer fire sales price....but of coz no harm trying if I really wanna get a goo dprice....
    Let us know if you secure a good price. So far best offer is 820k for 1313sqft and 890k for 1335sqft.

  9. #69

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    Quote Originally Posted by Lao Hu
    Let us know if you secure a good price. So far best offer is 820k for 1313sqft and 890k for 1335sqft.
    Then wait for the next one... it is a high now... If they can find buyers, they are saved. If they cannot find buyers, they are fried.

    No harm going in 1 to 2 years after top when all you need is a new coat of paint plus new reno...

    The best offer is quite reasonable...why don't close it?

    A thing to note about firesales... let the owners and agents pester you to commit and not the other way round. Agents do give false information at times if not (most of the time?)

    The last 3 transactions are below cost to about $100k loss....

    Northwood destined to be Dead wood?

  10. #70

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    Quote Originally Posted by Condorich
    Then wait for the next one... it is a high now... If they can find buyers, they are saved. If they cannot find buyers, they are fried.

    No harm going in 1 to 2 years after top when all you need is a new coat of paint plus new reno...

    The best offer is quite reasonable...why don't close it?

    A thing to note about firesales... let the owners and agents pester you to commit and not the other way round. Agents do give false information at times if not (most of the time?)

    The last 3 transactions are below cost to about $100k loss....

    Northwood destined to be Dead wood?
    How do u know "The last 3 transactions are below cost to about $100k loss"? how to find out?
    Last edited by housewife; 1st September 2009 at 10:57 AM.

  11. #71

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    Quote Originally Posted by housewife
    How do u know "The last 3 transactions are below cost to about $100k loss"? how to find out?
    Do your research... many ways, go to ura link and access realis...or get it free from somewhere.

    1. 1313 sqf Jul 09 $810,000 617 psf Bought at Jul 07 at 615 psf $807,240 (loss)
    2. 1604 sqf Jul 09 $810,900 506 psf (no past record of transaction)
    3. 1346 sqf Jun 09 $770,000 572 psf Bought at Jun 07 at 627 psf $843,510 (loss)

    $843,510 - $770,000 - stamp - legal fees - agent commission - bank interest etc... about $100k loss.

  12. #72

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    Quote Originally Posted by Condorich
    Do your research... many ways, go to ura link and access realis...or get it free from somewhere.

    1. 1313 sqf Jul 09 $810,000 617 psf Bought at Jul 07 at 615 psf $807,240 (loss)
    2. 1604 sqf Jul 09 $810,900 506 psf (no past record of transaction)
    3. 1346 sqf Jun 09 $770,000 572 psf Bought at Jun 07 at 627 psf $843,510 (loss)

    $843,510 - $770,000 - stamp - legal fees - agent commission - bank interest etc... about $100k loss.
    thanx Condorich!

  13. #73

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    Those who bot Northwood for investment are in for a tough ride...

  14. #74

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    Quote Originally Posted by Condorich
    Do your research... many ways, go to ura link and access realis...or get it free from somewhere.

    1. 1313 sqf Jul 09 $810,000 617 psf Bought at Jul 07 at 615 psf $807,240 (loss)
    2. 1604 sqf Jul 09 $810,900 506 psf (no past record of transaction)
    3. 1346 sqf Jun 09 $770,000 572 psf Bought at Jun 07 at 627 psf $843,510 (loss)

    $843,510 - $770,000 - stamp - legal fees - agent commission - bank interest etc... about $100k loss.
    Good info. Thanks for sharing.

  15. #75

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    Fourth transactions at a loss

    4. 1313 sqf Jul 09 $800,000 609 psf.

  16. #76

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    Seems like investor are offloading....i should start calling the agents leow..see if can negotiate a good deal...

  17. #77

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    Quote Originally Posted by Condorich
    Do your research... many ways, go to ura link and access realis...or get it free from somewhere.

    1. 1313 sqf Jul 09 $810,000 617 psf Bought at Jul 07 at 615 psf $807,240 (loss)
    2. 1604 sqf Jul 09 $810,900 506 psf (no past record of transaction)
    3. 1346 sqf Jun 09 $770,000 572 psf Bought at Jun 07 at 627 psf $843,510 (loss)

    $843,510 - $770,000 - stamp - legal fees - agent commission - bank interest etc... about $100k loss.
    hi Condorich,

    Can help to provide the link to view transaction with history.

    Thanks

  18. #78

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    Quote Originally Posted by Condorich
    Do your research... many ways, go to ura link and access realis...or get it free from somewhere.

    1. 1313 sqf Jul 09 $810,000 617 psf Bought at Jul 07 at 615 psf $807,240 (loss)
    2. 1604 sqf Jul 09 $810,900 506 psf (no past record of transaction)
    3. 1346 sqf Jun 09 $770,000 572 psf Bought at Jun 07 at 627 psf $843,510 (loss)

    $843,510 - $770,000 - stamp - legal fees - agent commission - bank interest etc... about $100k loss.
    Hi condorich, any idea why is this condo selling at loss ( cheap). when every where else is selling at profit now?

  19. #79

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    link available at ura web site, no idea why getting cheap, perhaps the owners could not obtain loans

  20. #80

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    Fifth transactions
    5. 1313 sqf Aug 09 $820,000 625 psf.

    Selling for loss or breakeven?

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