View Full Version : I am VERY tempted to sell....
i use to throw away the flyers in the mail about property sales and all that bullshit about how much i can sell my apt for but the temptation is growing day by day...looking at 50% gain over 4 years....i never thought i would feel like this i always thought this would be my home but everyday a lot of noise in newspapers/tv/forums...haiz nowadays cannot enjoy my apt anymore...the warmth of my house is gone by temptation of $$$$$:(
wonder if any other bro feels like this...:confused: ...share share feelings leh...:D ...my wife also feel like selling so at least that part NO isssue...:)
Erm...where will you live if u were to sell your house?
:beats-me-man:
My friend sold his condo and got 50% profit in 4 years also. Now they are living with their parents so no problem. :D
Regulators
03-08-11, 19:32
If you planning to live in malaysia, sell by all means. If you planing to stay put in singapore, you can sell but you still need to buy, isn't it the same? If you holding on to multiple properties, you can sell and cash out by all means
If it's your only property, before u sell, look at those prices that u need to pay for those potential places u may want to buy. This may make u think twice. Even if u sell and say rent a place, waiting for prices to drop (if they do), at least u know what are the market prices these potential replacement places are. Do u your homework 1st. If sell and rent, also think what are u going to do with money, where to park before u buy again....
buttercarp
03-08-11, 20:11
If you like your present place and do not need the cash, then don't sell.
If you are cash strapped then no choice but to sell and down grade.
If you have another property then can consider selling it and stay in the other property.
When housing agent call my home, i ask them where will i stay if i were to sell.
These days the moment i hear their voice, i just tell them "I am not interested."
cannot be buy buy buy all the time right:D
i use to throw away the flyers in the mail about property sales and all that bullshit about how much i can sell my apt for but the temptation is growing day by day...looking at 50% gain over 4 years....i never thought i would feel like this i always thought this would be my home but everyday a lot of noise in newspapers/tv/forums...haiz nowadays cannot enjoy my apt anymore...the warmth of my house is gone by temptation of $$$$$:(
wonder if any other bro feels like this...:confused: ...share share feelings leh...:D ...my wife also feel like selling so at least that part NO isssue...:)
Maybe you may want to share your plan if you sell your current unit. . Buy high sell high. .....
As regulator mentioned,
Only sell when you have more than 1 ppty.
If not,where u stay.
I dun believe in all that crap stay with in law, stay w parents or rental.
Those r short term solution
As regulator mentioned,
Only sell when you have more than 1 ppty.
If not,where u stay.
I dun believe in all that crap stay with in law, stay w parents or rental.
Those r short term solutionI also don't buy the idea of staying with in laws, parents or rent. The only reason other than cannot commit with the bank loan due to retrenchment, etc, is to take the profit and buy a downgraded apartment in either of the following forms:
1. Same size (rooms, floor area, etc) but a less desirable location
2. Same size (rooms, floor area, etc) but a matured EC (> 5 years for citizens; > 10 years for foreigners)
3. Smaller size in the same good location (provided your current location is considered good)
4. Much smaller size in a better location (provided your current location is not located in the prime district already)
5. Same location and same size, etc but can liquidate the 80% that you've paid for that current property to start on 40% again so can use that extra cash for other forms of investments.
Pts 1 to 4 have super high chance that will generate extra cash to keep. Pt 5 is less common and more directed in objective. Any reasons apart from the above mentioned might well incur more cost upfront so may not be that wise a decision to sell after all, provided you do not have a 2nd or 3rd property elsewhere. :D
i use to throw away the flyers in the mail about property sales and all that bullshit about how much i can sell my apt for but the temptation is growing day by day...looking at 50% gain over 4 years....i never thought i would feel like this i always thought this would be my home but everyday a lot of noise in newspapers/tv/forums...haiz nowadays cannot enjoy my apt anymore...the warmth of my house is gone by temptation of $$$$$:(
wonder if any other bro feels like this...:confused: ...share share feelings leh...:D ...my wife also feel like selling so at least that part NO isssue...:)
Listen to your wife ; )
But if u have kids, do think about them also.
i find it meaningful to sell, if u can upgrade to a better lifestyle or location and the family is better of as a result of the move. Eg, child needs to travel less to school or wife need not suffer so much in damn squeeze public transport.
Of cos dont take any loan that doesnt tally with the household income range lah.
make $$$ then sell and move to some location and cause more inconvenience n downgrade in lifestyle than i find it meanless to have tons of $$$$ in bank and wait for inflation to erode $$$ away. If u do something to improve the lives of your family now or later in the future than $$$$ earned will have meaning.
IF hold too much cash there is always a risk of casino sucking it away or some pretty chick comes along and cheat it all away. Cheers bro, dont let $$$ destory the warmth of the family. Make it your slave and treat it like shit but use it wisely.
i use to throw away the flyers in the mail about property sales and all that bullshit about how much i can sell my apt for but the temptation is growing day by day...looking at 50% gain over 4 years....i never thought i would feel like this i always thought this would be my home but everyday a lot of noise in newspapers/tv/forums...haiz nowadays cannot enjoy my apt anymore...the warmth of my house is gone by temptation of $$$$$:(
wonder if any other bro feels like this...:confused: ...share share feelings leh...:D ...my wife also feel like selling so at least that part NO isssue...:)
its a sign the market is softening liao.
50% gain? you might want to factor in the inflation over the past 4 years as well. Gold was about US$900 an ounce 4 years ago, today its US$1600.
Listen to your wife ; )
But if u have kids, do think about them also.
i find it meaningful to sell, if u can upgrade to a better lifestyle or location and the family is better of as a result of the move. Eg, child needs to travel less to school or wife need not suffer so much in damn squeeze public transport.
Of cos dont take any loan that doesnt tally with the household income range lah.
make $$$ then sell and move to some location and cause more inconvenience n downgrade in lifestyle than i find it meanless to have tons of $$$$ in bank and wait for inflation to erode $$$ away. If u do something to improve the lives of your family now or later in the future than $$$$ earned will have meaning.
IF hold too much cash there is always a risk of casino sucking it away or some pretty chick comes along and cheat it all away. Cheers bro, dont let $$$ destory the warmth of the family. Make it your slave and treat it like shit but use it wisely.Words of wisdom from a loving husband and a doting father. Really depending on what your priorities are, make more money now or spend quaility time and spare considerable thoughts for your family members? Best is to find one option which merits the two priorities but its seldom the case. One will strive at the expense of the other! Choose wisely and don't look back with remorse later! :spliff:
kingkong1984
03-08-11, 22:45
why sell when u can hold
why hold when it can be sold
The difference between the two is whether u need the cash. Otherwise, just keep them.
Money is the root of all evil. Dun be tempted by the devil.
its a sign the market is softening liao.
50% gain? you might want to factor in the inflation over the past 4 years as well. Gold was about US$900 an ounce 4 years ago, today its US$1600.Gold is not a good example lah... not on par with inflation rate!!! :o Current inflation rate is about 4 to 6% only. Not 70% over 4 years!!! :D
The answer lies in how well you know yourself.
Its may be a good idea to sell and move into a fully paid HDB unit without mortgage. Hold the profit for another opportunity to buy another property.
You'll be surprised at how pleasurable a 'mortgage-free' life can be.
The answer lies in how well you know yourself.
Its may be a good idea to sell and move into a fully paid HDB unit without mortgage. Hold the profit for another opportunity to buy another property.
You'll be surprised at how pleasurable a 'mortgage-free' life can be.
Mortgage free only make sense if interest rate is high and inflation is low. at the moment, one will be better off leveraging on your property.
One alternative is to take out a term loan on your property and reinvest in another property or even gold.
It is always never a good idea to keep too much cash in bank, beside inflation, you will also end up spending more.
thanks all good bros for very meaningful feedback...actually i also have a hdb apt almost fully paid currently being tenanted out so my plan if i sell like 90% of sellers who sell for sake of selling is to wait for the dip that may or may not happen...ur guess as good as mine...:)
so while waiting i still got rental income from my hdb apt i thinking of topping up 500 to 1k per month to that amount and renting a condo for about a year or so till direction is more clear...:)
no issue with my present place but would be nice to have a change of enviroment...like they say rolling stone gathers no moss...:)
anyway i already called my old property agent friend he buying me lunch tommorow ha ha property agents and insurance agents all the same always eager to buy you lunch....:D
Mortgage free only make sense if interest rate is high and inflation is low. at the moment, one will be better off leveraging on your property.
One alternative is to take out a term loan on your property and reinvest in another property or even gold.
It is always never a good idea to keep too much cash in bank, beside inflation, you will also end up spending more.
yup same goes for cars i just bought a used car interest at 1.88%...cheap cheap but of course with cars u got that stupid rule 78 thing that penalizes u if u sell early...:cool:
Call me old fashion. But to me a home is more than just a roof over your head. Investments are a different thing altogether.
Call me old fashion. But to me a home is more than just a roof over your head. Investments are a different thing altogether.Yes old fashion... :D I agree with you. You can play with your investment property but not your home. Then again this guy is not really playing with his home because should all things fail, he'll just move back into his HDB. Then again from experience, those who have stayed in PC will not want to move back into HDB. :p Debatable!
Yes old fashion... :D I agree with you. You can play with your investment property but not your home. Then again this guy is not really playing with his home because should all things fail, he'll just move back into his HDB. Then again from experience, those who have stayed in PC will not want to move back into HDB. :p Debatable!
honestly having had the best of both worlds staying in condos is NOT like what it used to be nowadays condos are flooded with FT..all the yaya papaya type...you see also blood boil...the way they behave a tho ah nevermind...:simmering: ...but hdb on other hand i feel residents more down to earth....correct me if i wrong but thats MY experience...:)
honestly having had the best of both worlds staying in condos is NOT like what it used to be nowadays condos are flooded with FT..all the yaya papaya type...you see also blood boil...the way they behave a tho ah nevermind...:simmering: ...but hdb on other hand i feel residents more down to earth....correct me if i wrong but thats MY experience...:)Yes and no lah... really depend on your neighbors. There are actually many PRCs who're moving into HDB whether renting or buying. When I just moved into HDB, all were locals in my block but after MOP, many PRCs came in but they are not really problematic. Sometimes locals more problems. :tongue3:
Yes and no lah... really depend on your neighbors. There are actually many PRCs who're moving into HDB whether renting or buying. When I just moved into HDB, all were locals in my block but after MOP, many PRCs came in but they are not really problematic. Sometimes locals more problems. :tongue3:
But stay HDB may run the risk of being mistakenly harassed by Ah Long:D Or your neighbor get harassed which definitely will affect you also.
But stay HDB may run the risk of being mistakenly harassed by Ah Long:D Or your neighbor get harassed which definitely will affect you also.
Nowadays, Ah Long changed tactics liao. They harass the neighbours hoping that the neighbours will put pressure on their target owner.
Yes and no lah... really depend on your neighbors. There are actually many PRCs who're moving into HDB whether renting or buying. When I just moved into HDB, all were locals in my block but after MOP, many PRCs came in but they are not really problematic. Sometimes locals more problems. :tongue3:
problem with hdb... i can renovate the flat to my liking, keep the house as clean as i like, but once i step out of it... sigh :eek: ...
condo do have advantage, cleaner environment, maybe due to higher maintenance fee :D
i think my problem is bec my hdb is in old estate.
Nowadays, Ah Long changed tactics liao. They harass the neighbours hoping that the neighbours will put pressure on their target owner.Hahaha!Wait their neighbor is a police superintendent or something then activate an thorough investigation to round up those illicit syndicate... hahaha! Then they can close shop liaoz! :sleep:
problem with hdb... i can renovate the flat to my liking, keep the house as clean as i like, but once i step out of it... sigh :eek: ...
condo do have advantage, cleaner environment, maybe due to higher maintenance fee :D
i think my problem is bec my hdb is in old estate.For the price difference, there better be a stark difference between HDB and PCs. :p Like I said, most people who have stayed in PC will be quite unwilling to move into HDB because of all these advantages unless absolutely 'bo pian'. :p
proud owner
04-08-11, 09:33
yup same goes for cars i just bought a used car interest at 1.88%...cheap cheap but of course with cars u got that stupid rule 78 thing that penalizes u if u sell early...:cool:
what is rule 78 ?
honestly having had the best of both worlds staying in condos is NOT like what it used to be nowadays condos are flooded with FT..all the yaya papaya type...you see also blood boil...the way they behave a tho ah nevermind...:simmering: ...but hdb on other hand i feel residents more down to earth....correct me if i wrong but thats MY experience...:)
If you want to move because you are not entirely happy with where you are staying. Then it is a different thing. That you are able to make money as well is a bonus. I would then say move.
But if you are moving to make (more) money, then I would say it never ends.
If you want to move because you are not entirely happy with where you are staying. Then it is a different thing. That you are able to make money as well is a bonus. I would then say move.
But if you are moving to make (more) money, then I would say it never ends.If transacting properties is your hobby, than just buy and sell units that you don't live in. Its really v v troublesome for the family who keep having to move with you after a few years. Ideal case is to find that one dream home that you see yourself and your family staying for a long time. Then you can start buying and selling other properties! It makes more sense that way! :o
what is rule 78 ?
Some of you may have heard of the “Rule of 78” when it comes to settling your outstanding bank loan for your car. But what is it actually about?
http://i.i-sgcm.com/news/article_advice/2007/61_p1_s_1.jpg (http://www.sgcarmart.com/news/gallery.php?AID=61&CUR=1&TYPE=advice)
The typical car buying process in Singapore involves taking out a bank loan to finance the purchase. In theory, the bank loan should cover the duration for the length of time that one intends to own the car. However, it is common for owners to sell off their cars before the loan is fully repaid. The simple solution would be to simply repay the outstanding balance in full.
However, the loan redemption amount generally consists of the initial loan amount, less the instalment amounts already paid for, plus the total interest. However, early repayment might entitle you to a rebate on the remaining interest to be charged. This interest rebate is calculated using the "Rule of 78" formula.
You should also note that in cases of early repayment, there could be a fee or penalty, usually charged as a percentage of the interest rebate, depending on the bank policy and if it's stated in the loan agreement. This is to cover some of the costs that the banks will incur if a loan is repaid early.
Therefore, the loan redemption amount is:
Initial loan amount - instalments already paid + total interest - interest rebate (rule of 78) + penalty (a percentage of the interest rebate).
Now, the formula for "Rule of 78"
R = http://i.i-sgcm.com/news/article_advice/2007/61_p1_s_2.jpg
Whereby:
R
represents the interest charges rebate
n
represents the balance loan period expressed in months
N
represents the original loan period expressed in months
TC
represents the total amount of interest payable over the loan period
Let's use an example to illustrate the formula.
Let's say you have a 5-year loan of $50,000 at 3% interest that you wish to fully pay up after 20 months.Assuming the bank uses the "Rule of 78" to calculate the interest rebate, with a 20% penalty on the rebate for early repayment.
Loan amount = $50,000
Interest rate = 3% per annum
Total interest to be paid = (3% x 5 years x $50,000) = $7,500
Period of finance = 60 months or 5 years
Monthly instalment = ($50,000 + $7,500) /60 = $958.33
Number of instalments paid = 20 months
Total amount already paid for = $958.33 x 20 = $19,166.67
Interest rebate according to "Rule of 78" = [40(40+1)] / [60(60+1)] x $7,500 = $3,360.66
Here, 40 represent the number of months remaining of the bank loan that is unpaid, and 60 is the original number of months of the bank loan. The amount of $3,360.66 is the interest rebate on the 40 months' interest from early termination of the loan.
20% of interest rebate as penalty = 0.2 x $3,360.66 = $672.14
Loan redemption amount = $50,000 + $7,500 - $19,166.67 - $3,360.66 + $672.14 =$35,644.81
That is, initial loan amount ($50,000) plus total interest ($7,500), deducting the instalment amounts already paid for ($19,166.67) and the interest rebate ($3,360.66), plus the 20% penalty on the rebate ($672.14), resulting in the loan redemption amount ($35,644.81).
tks all bros for the good and sensible advice....yup i know money root of all evil....:) ...especially EASY money..my plan is to cash out maybe move back to my hdb probably park excess funds in gold or less risky assets if i have too wait a couple of years then if time/price is right...go in again....the property mkt will always be there right just a question of price and place...:D
thanks all good bros for very meaningful feedback...actually i also have a hdb apt almost fully paid currently being tenanted out so my plan if i sell like 90% of sellers who sell for sake of selling is to wait for the dip that may or may not happen...ur guess as good as mine...:)
so while waiting i still got rental income from my hdb apt i thinking of topping up 500 to 1k per month to that amount and renting a condo for about a year or so till direction is more clear...:)
no issue with my present place but would be nice to have a change of enviroment...like they say rolling stone gathers no moss...:)
anyway i already called my old property agent friend he buying me lunch tommorow ha ha property agents and insurance agents all the same always eager to buy you lunch....:D
If your current investment property offering you decent rental returns and it is easy to find tenant, then you might want to consider taking a term loan out of this property and either park the money aside or repay your CPF to earn 2.5% returns.
The problem with selling and keeping money in the bank today is that your are losing about 5 to 6% in value every year due to inflation and you also lose the passive income from rental.
And what IF the property price doesnt collapse as what you hope? And if you need to re-enter the market, you will be stuck with the CM4 SSD rules, stamp fees and renovation cost etc.
tks all bros for the good and sensible advice....yup i know money root of all evil....:) ...especially EASY money..my plan is to cash out maybe move back to my hdb probably park excess funds in gold or less risky assets if i have too wait a couple of years then if time/price is right...go in again....the property mkt will always be there right just a question of price and place...:D
Money is neutral. Nothing evil about it - you can use it to do good or evil. We all need money to survive in this world. It is the LOVE of money that is the root of all evil:D
If your current investment property offering you decent rental returns and it is easy to find tenant, then you might want to consider taking a term loan out of this property and either park the money aside or repay your CPF to earn 2.5% returns.
The problem with selling and keeping money in the bank today is that your are losing about 5 to 6% in value every year due to inflation and you also lose the passive income from rental.
And what IF the property price doesnt collapse as what you hope? And if you need to re-enter the market, you will be stuck with the CM4 SSD rules, stamp fees and renovation cost etc.
sensible advice...:)
tks all bros for the good and sensible advice....yup i know money root of all evil....:) ...especially EASY money..my plan is to cash out maybe move back to my hdb probably park excess funds in gold or less risky assets if i have too wait a couple of years then if time/price is right...go in again....the property mkt will always be there right just a question of price and place...:DGlad that after 4 pages of discussion, you have finally come to a decision! :o All the best!
Glad that after 4 pages of discussion, you have finally come to a decision! :o All the best!
ha ha we see how it goes still got to go thru the marketing and selling phase if cant get my reserve price then continue to stay and make noise in this forum...:D
tks all bros for the good and sensible advice....yup i know money root of all evil....:) ...especially EASY money..my plan is to cash out maybe move back to my hdb probably park excess funds in gold or less risky assets if i have too wait a couple of years then if time/price is right...go in again....the property mkt will always be there right just a question of price and place...:D Best of luck to u. some reading for you on Gold:
http://www.cnbc.com/id/43995133
Extract...:
"Gold rose toward $1,675 an ounce Wednesday, hitting its second record in two days, as investors sought refuge from stock market volatility, a slowing economy and an extended period of loose U.S. monetary policy...
UBS strategist Edel Tully said the lack of a pullback attracted decent buying. The Swiss bank on Wednesday raised its three-month price forecast to $1,850, from $1,600. ..."
ha ha we see how it goes still got to go thru the marketing and selling phase if cant get my reserve price then continue to stay and make noise in this forum...:D
Don't sell your HDB, it's a goldmine.
At least wait till the Bedok South MRT announcement then see how.
Good Luck!
Don't sell your HDB, it's a goldmine.
At least wait till the Bedok South MRT announcement then see how.
Good Luck!
ha ha ha u read my mind...:)
children are a GIFT from GOD...:D
HDB is a GIFT from Singapore Govt...:scared-1:
ha ha ha u read my mind...:)
children are a GIFT from GOD...:D
HDB is a GIFT from Singapore Govt...:scared-1:Yes so if you have both, keep them close! :spliff:
i have a similar situation..
happily staying in hdb, just a bit far from work, but new place just TOP but currently can easily make 60% because of all the buzz in Bishan.
so what to do? move and rent out hdb?
sell and continue to stay in hdb, and wait for better investment.
My thoughts are:
Unless you really need the cash out, else shift into your new condo. Isn't that wat u wanted?
No need to wait for better investment. U alrdy got it. Reap the returns. Take the HDB rental and Enjoy ur Condo stay :)
i have a similar situation..
happily staying in hdb, just a bit far from work, but new place just TOP but currently can easily make 60% because of all the buzz in Bishan.
so what to do? move and rent out hdb?
sell and continue to stay in hdb, and wait for better investment.
My thoughts are:
Unless you really need the cash out, else shift into your new condo. Isn't that wat u wanted?
No need to wait for better investment. U alrdy got it. Reap the returns. Take the HDB rental and Enjoy ur Condo stay :)
yup thats what i did four years ago and been doing since...:)
now time to move on...:D
Seems like you hv already come to a conclusion alrdy. Great! Wish u well.
On my end, pretty similar background, had a hdb on rent, condo self stay past 5 yrs. both with outstanding loan. gain for condo is probably 60% ba.
No plans to cash out. Rental is serving me well for saving and investment. Dream is getting 3rd ppty leh but will be super catious not to over commit.
yup thats what i did four years ago and been doing since...:)
now time to move on...:D
Me currently living in a 1292 sqf 3-bedder in Woodsvale which is fully paid for and bought a smaller 2-bedder fh new launched condo coz got no kids.
Undecided whether to sell 3-bedder (coz psf is over $600 now) and repay back new bank loan or rent it out when fh condo TOP in about 2-years time.
If rent out, worried that if cannot get tenant for long period or sway sway kena retrenched, servicing the monthly mortgage will be tough.
So should I rent or sell?
i have a similar situation..
happily staying in hdb, just a bit far from work, but new place just TOP but currently can easily make 60% because of all the buzz in Bishan.
so what to do? move and rent out hdb?
sell and continue to stay in hdb, and wait for better investment.
Just my thoughts.
I think you have to ask yourself why you bought the codo in Bishan in the first place. (I assume it is Clover)
If its for investment, then calculate if it has met your investment objective. If it has, then sell, cash out and then move on to next investment objective.
If its for self-stay, then try to re-live the moment when you first bought it. How you originally planned to live your life with your purchase, how happy you and your family was on the prospect of staying there. Try not to be tempted by the gains.
Cheers!
kingkong1984
04-08-11, 16:30
Me currently living in a 1292 sqf 3-bedder in Woodsvale which is fully paid for and bought a smaller 2-bedder fh new launched condo coz got no kids.
Undecided whether to sell 3-bedder (coz psf is over $600 now) and repay back new bank loan or rent it out when fh condo TOP in about 2-years time.
If rent out, worried that if cannot get tenant for long period or sway sway kena retrenched, servicing the monthly mortgage will be tough.
So should I rent or sell?
stay at fh 2 bedder and rent out 1292 3 bedder.
If in need of money.. can try equity loan
otherwise, kill it later to take profit.
baseline price, new EC pricing around your estate.
Me currently living in a 1292 sqf 3-bedder in Woodsvale which is fully paid for and bought a smaller 2-bedder fh new launched condo coz got no kids.
Undecided whether to sell 3-bedder (coz psf is over $600 now) and repay back new bank loan or rent it out when fh condo TOP in about 2-years time.
If rent out, worried that if cannot get tenant for long period or sway sway kena retrenched, servicing the monthly mortgage will be tough.
So should I rent or sell?
bro woodsvale no worry no rental your place is filipino paradise...:D ...i been there few times...always crowded with filipinos...:scared-4:
Seems like you hv already come to a conclusion alrdy. Great! Wish u well.
On my end, pretty similar background, had a hdb on rent, condo self stay past 5 yrs. both with outstanding loan. gain for condo is probably 60% ba.
No plans to cash out. Rental is serving me well for saving and investment. Dream is getting 3rd ppty leh but will be super catious not to over commit.
yup third property is playing with fire if ur comfortable just maintain what you have...if u sell condo u can buy back but hdb once gone then u buy back very troublresome cannot rent out cannot buy private so i also like u thats why sell condo keep hdb...:D
Ya will surely retain HDB. Last line of defence mah. Hee
yup third property is playing with fire if ur comfortable just maintain what you have...if u sell condo u can buy back but hdb once gone then u buy back very troublresome cannot rent out cannot buy private so i also like u thats why sell condo keep hdb...:D
Wow, since u alrdy paid off ur woodsvale, and downpayment alrdy made for ur 2 bedder fh. Maybe can consider to hold till TOP before deciding ba?
And yes, Woodsvale and Northoak are very popular with tenants from Global foundries and Micron.
Me currently living in a 1292 sqf 3-bedder in Woodsvale which is fully paid for and bought a smaller 2-bedder fh new launched condo coz got no kids.
Undecided whether to sell 3-bedder (coz psf is over $600 now) and repay back new bank loan or rent it out when fh condo TOP in about 2-years time.
If rent out, worried that if cannot get tenant for long period or sway sway kena retrenched, servicing the monthly mortgage will be tough.
So should I rent or sell?
Just my thoughts.
I think you have to ask yourself why you bought the codo in Bishan in the first place. (I assume it is Clover)
If its for investment, then calculate if it has met your investment objective. If it has, then sell, cash out and then move on to next investment objective.
If its for self-stay, then try to re-live the moment when you first bought it. How you originally planned to live your life with your purchase, how happy you and your family was on the prospect of staying there. Try not to be tempted by the gains.
Cheers!
Well, when i bought Clover at launch, the price was acceptable then. in 2008, markets were wobbly, but i wanted to upgrade and the surrounding was good, park facing, near amenities, although LH
It was a GOOD BUY.
Today, different story. Place just TOP, park looks serene, but selling price going for incredible 1.7m. Market appears wobbly (again).
It seems a GOOD SELL.
My thinking is, 1.7m can get me FH in many other places. Townhouses, Clusterhouses, bigger LH, resale in D11, etc.
So, the options are great now. If i sell and wait, the opportunities can be greater since a very high chance market should stabilize for the next few years if not soften a little...
Current home and car fully paid up, so no loan to service.
Should i exit and then sit back and wait?
What do i have to lose?
Well, when i bought Clover at launch, the price was acceptable then. in 2008, markets were wobbly, but i wanted to upgrade and the surrounding was good, park facing, near amenities, although LH
It was a GOOD BUY.
Today, different story. Place just TOP, park looks serene, but selling price going for incredible 1.7m. Market appears wobbly (again).
It seems a GOOD SELL.
My thinking is, 1.7m can get me FH in many other places. Townhouses, Clusterhouses, bigger LH, resale in D11, etc.
So, the options are great now. If i sell and wait, the opportunities can be greater since a very high chance market should stabilize for the next few years if not soften a little...
Current home and car fully paid up, so no loan to service.
Should i exit and then sit back and wait?
What do i have to lose?
sell sell sell...ha ha ha....:) ...thats what i would do but then i am no GURU:D
At interest rate of 2%, monthly loan repayment will be around $4.2k after full disbursement of housing loan for fh condo.
With $2k of CPF OA contribution every month, will need to get at least $2.2k rental per month for the woodsvale unit to meet monthly mortgage.
Will setting aside 6-month of monthly loan repayment in cash just in case no rental or retrenchment sufficient?
By the way, will the rental income be taxable? Also, will the property tax for the rental property be sky high?
At interest rate of 2%, monthly loan repayment will be around $4.2k after full disbursement of housing loan for fh condo.
With $2k of CPF OA contribution every month, will need to get at least $2.2k rental per month for the woodsvale unit to meet monthly mortgage.
Will setting aside 6-month of monthly loan repayment in cash just in case no rental or retrenchment sufficient?
By the way, will the rental income be taxable? Also, will the property tax for the rental property be sky high?
rental income is taxable in ur income tax. :(
rental income is taxable in ur income tax. :(
which can be offset by claiming the interest charged on the home loan:)
At interest rate of 2%, monthly loan repayment will be around $4.2k after full disbursement of housing loan for fh condo.
With $2k of CPF OA contribution every month, will need to get at least $2.2k rental per month for the woodsvale unit to meet monthly mortgage.
Will setting aside 6-month of monthly loan repayment in cash just in case no rental or retrenchment sufficient?
By the way, will the rental income be taxable? Also, will the property tax for the rental property be sky high?
Rental income is taxable. U can refer to iras website for further details.
Property tax:10%of av
It is too early for u to do anything now. Just wait for your fh to be ready and decide from there:)
Well, when i bought Clover at launch, the price was acceptable then. in 2008, markets were wobbly, but i wanted to upgrade and the surrounding was good, park facing, near amenities, although LH
It was a GOOD BUY.
Today, different story. Place just TOP, park looks serene, but selling price going for incredible 1.7m. Market appears wobbly (again).
It seems a GOOD SELL.
My thinking is, 1.7m can get me FH in many other places. Townhouses, Clusterhouses, bigger LH, resale in D11, etc.
So, the options are great now. If i sell and wait, the opportunities can be greater since a very high chance market should stabilize for the next few years if not soften a little...
Current home and car fully paid up, so no loan to service.
Should i exit and then sit back and wait?
What do i have to lose?Your biggest loss is not able to stay in new condo now but have to wait some more. Is your family agreeable.
Then your potential loss is you may not find another place as seren as you've liked.
Your unlikely loss is prices may not go down long enough (if it should even drop) for you to decide quickly to enter again (aka miss the boat) or it may not drop much to let you reap the benefits of your sales now. :D
With a recession looming, and property prices at a peak, is this the time to cash out on the 2nd property? As with stocks, its always difficult to catch the peak and bottom...makes one wonder if now is the time, take the profits and run.
Ya will surely retain HDB. Last line of defence mah. Hee
Very useful to keep HDB. You might need it in the future for purposes other than rental. eg after you sold your property, you need somewhere to stay while waiting to buy the next one. Or you are renovating your property and you need somewhere to move out to in the meantime.
Very useful to keep HDB. You might need it in the future for purposes other than rental. eg after you sold your property, you need somewhere to stay while waiting to buy the next one. Or you are renovating your property and you need somewhere to move out to in the meantime.True true to a very large extent. However, I do have reasons to sell. If I can liquidate some $700k from selling my HDB as opposed to only liquidating $500k from selling my PC which I'm staying, and I have every intention to liquidate for some investment opportunity, I would probably be more inclined to sell my HDB. :p
With a recession looming, and property prices at a peak, is this the time to cash out on the 2nd property? As with stocks, its always difficult to catch the peak and bottom...makes one wonder if now is the time, take the profits and run.
I think this guy already missed the boat..Who would be buying now?
May be wait for few months for market to calm down and then see if price is good enough to sell..
kingkong1984
05-08-11, 09:03
True true to a very large extent. However, I do have reasons to sell. If I can liquidate some $700k from selling my HDB as opposed to only liquidating $500k from selling my PC which I'm staying, and I have every intention to liquidate for some investment opportunity, I would probably be more inclined to sell my HDB. :p
like that better sell... pay off condo.. then buy another for rental.
I think this guy already missed the boat..Who would be buying now?
May be wait for few months for market to calm down and then see if price is good enough to sell..Last night's US tumble due to panic and fears spells brewing trouble for the world economy despite the fact that the 2 Aug deadline is met! Hmmm... what's next? Spain and Italy? :scared-3:
Your biggest loss is not able to stay in new condo now but have to wait some more. Is your family agreeable.
Then your potential loss is you may not find another place as seren as you've liked.
Your unlikely loss is prices may not go down long enough (if it should even drop) for you to decide quickly to enter again (aka miss the boat) or it may not drop much to let you reap the benefits of your sales now. :D
i wouldn't think that is the biggest loss. condo is just a home with facilities. i could still join a club membership and yet enjoy the same facilities. Again, with the sale proceeds, there are many move-in condition condos around the island. in past month we have been "window shopping" to see what's out there.... do some research by tracking historical caveats, so that we can clearly see the options out there.
we could effectively do a "swap" now or wait in between and slowly find another suitable one. Bear in mind, there are many new units coming into the market in the next 2 years....and looking at the shape of markets yesterday, i don't think it is going to improve anytime soon.
we could effectively do a "swap" now or wait in between and slowly find another suitable one. Bear in mind, there are many new units coming into the market in the next 2 years....and looking at the shape of markets yesterday, i don't think it is going to improve anytime soon.
isn't it abit too late to think of selling now? good offers will not come at this point of time. looks like market already decided for u.:)
i wouldn't think that is the biggest loss. condo is just a home with facilities. i could still join a club membership and yet enjoy the same facilities. Again, with the sale proceeds, there are many move-in condition condos around the island. in past month we have been "window shopping" to see what's out there.... do some research by tracking historical caveats, so that we can clearly see the options out there.
we could effectively do a "swap" now or wait in between and slowly find another suitable one. Bear in mind, there are many new units coming into the market in the next 2 years....and looking at the shape of markets yesterday, i don't think it is going to improve anytime soon.
You might already be too late. Put yourself in the buyer's shoes and ask if you are willing to pay $1.7M given the current gloomy outlook around the world. Personally, I wouldn't buy. You may have to lower your expectations if you want to sell. Sorry for this honest opinion.:)
Seem like the current property bull run is coming to it's end.
A sweet and short one. :)
The GSS is about to begin, get ready your cheques! 46% national day discounts? :rolleyes:
My thinking is, 1.7m can get me FH in many other places. Townhouses, Clusterhouses, bigger LH, resale in D11, etc.
So, the options are great now. If i sell and wait, the opportunities can be greater since a very high chance market should stabilize for the next few years if not soften a little...
What do i have to lose?
Err.. I think you sort of contradict yourself here. If $1.7M can get FH, larger LH etc, wouldn't the buyer of your condo think the same?:)
Err.. I think you sort of contradict yourself here. If $1.7M can get FH, larger LH etc, wouldn't the buyer of your condo think the same?:)
market always have irrational buyers.... look at TG. and future Bishan buyers..... anyway, got many buyers already offering.... and many caveats transacted....
The GSS is about to begin, get ready your cheques! 46% national day discounts? :rolleyes:
:scared-1:
I'm more kiasi, bend towards holding on to hdb. If something drastic happen, able to return back to hdb, living expense will also be lower ba.
True true to a very large extent. However, I do have reasons to sell. If I can liquidate some $700k from selling my HDB as opposed to only liquidating $500k from selling my PC which I'm staying, and I have every intention to liquidate for some investment opportunity, I would probably be more inclined to sell my HDB. :p
The best option now is probably to watch like an eagle and don't act rashly. If selling property, quickly test market and see any buyers. Can let go high, quick let go. Otherwise, just hang on! If buying property, wait a few months and assess the market conditions before plunging in! :scared-3:
market always have irrational buyers.... look at TG. and future Bishan buyers..... anyway, got many buyers already offering.... and many caveats transacted....
rational or not depends on individual circumstance. Some are just being "unfortunate" to have too much money and no business to invest and yet they are afraid to have their money eaten up by inflation or worst currency tsunami, so the next best thing to do is to buy assets like properties.
market always have irrational buyers.... look at TG. and future Bishan buyers..... anyway, got many buyers already offering.... and many caveats transacted....
If you think that paying $1.7M for your unit is "irrational" and if you have a genuine offer with ready cheque, then make that decision quickly and don't look back.
Yes time is of the essence. Don't hesitate once your decision is made up and an irresistible offer comes along. Prices may undergo correction really soon! Hmmm... Buyers get ready! :rolleyes:
Yes time is of the essence. Don't hesitate once your decision is made up. Prices may undergo correction really soon! Hmmm... Buyers get ready! :rolleyes:
relax... you know they say "only fools rush in...."
:beats-me-man:
kingkong1984
05-08-11, 13:46
If you think that paying $1.7M for your unit is "irrational" and if you have a genuine offer with ready cheque, then make that decision quickly and don't look back.
shsssh... need to think anymore meh?
Kill that bugger and buy yourself a landed and a car. The park is really nothing to shout about. Can drive there mah.
U want nice views. Go to Marina, Kallang or Sentosa and maybe the East.
Regulators
05-08-11, 13:50
why are people talking about selling off their properties? Cash out and earn that few hundred k for what? Unless you tell me you want to move to malaysia, then i say by all means sell. Our country's economy is expanding and we are getting more foreigners in to rent your properties, so hold and rent, not sell. i dont foresee a drastic drop in prices even though prices might soften a bit.
relax... you know they say "only fools rush in...."
:beats-me-man:Yes fools rush in because they don't think or consider much. 'Not hesitating' once the decision is made is not a foolish act. Its a decision based on much deliberation. Throughout this process, you can always relax! :p :D :tongue3:
kingkong1984
05-08-11, 14:00
why are people talking about selling off their properties? Cash out and earn that few hundred k for what? Unless you tell me you want to move to malaysia, then i say by all means sell. Our country's economy is expanding and we are getting more foreigners in to rent your properties, so hold and rent, not sell. i dont foresee a drastic drop in prices even though prices might soften a bit.
Cash out to pay off debts or to buy a bigger one..
hahaha.... get a bigger debt lah.
why are people talking about selling off their properties? Cash out and earn that few hundred k for what? Unless you tell me you want to move to malaysia, then i say by all means sell. Our country's economy is expanding and we are getting more foreigners in to rent your properties, so hold and rent, not sell. i dont foresee a drastic drop in prices even though prices might soften a bit.Unless there's a more attractive investment opportunity, no need to sell off to buy again. If its to liquidate cash for other purposes, then ok by all means. :o
this is a simple test, put your property market in the market for sale at the price u want.
U will see what is going on now....and then u decide
why are people talking about selling off their properties? Cash out and earn that few hundred k for what? Unless you tell me you want to move to malaysia, then i say by all means sell. Our country's economy is expanding and we are getting more foreigners in to rent your properties, so hold and rent, not sell. i dont foresee a drastic drop in prices even though prices might soften a bit.
cash out and earn 600k not enough?
kingkong1984
05-08-11, 14:33
cash out and earn 600k not enough?
haha.. what are you waiting for?
Let us know if u managed to find a buyer.
I could do alot with $600k... its like striking toto!!!!
Anyway, no buyer means no honey.
Remember, you can always buy another.. maybe not at the same place and at the same price but there is always a BETTER ALTERNATIVE.
Sell!!!!
cash out and earn 600k not enough?
If I am in your position, I will look for a tenant, and then cash out the property by taking up a term loan. interest rate is similar to your mortgage, and repayment can be stretch as long as you mortgage. go check with your banker.
That way, you continue to remain invested, while you free up some capital from your property to reinvest, while at the same time continue to collect passive income from rental.
kingkong1984
05-08-11, 14:40
If I am in your position, I will look for a tenant, and then cash out the property by taking up a term loan. interest rate is similar to your mortgage, and repayment can be stretch as long as you mortgage. go check with your banker.
That way, you continue to remain invested, while you free up some capital from your property to reinvest, while at the same time continue to collect passive income from rental.
I will do otherwise.
If there is a crash.. you have to top up.
Plus your second buy will also mean a loss... likely to top up if the loss is too big.
Anyway to use the analogy of a gun. You need to reload your gun. I think at best it will have another bullet but at least u could fire. No point holding on to two guns with zero bullet.
Cash = Bullet.
Get it?
I will do otherwise.
If there is a crash.. you have to top up.
Plus your second buy will also mean a loss... likely to top up if the loss is too big.
Anyway to use the analogy of a gun. You need to reload your gun. I think at best it will have another bullet but at least u could fire. No point holding on to two guns with zero bullet.
Cash = Bullet.
Get it?
not necessary so
You could take out a term loan, park the money (bullet) in the bank or back to your CPF to make 2.5%
If the correction is that bad (>20%) that you need to top up, just repay your term loan.
cash out and earn 600k not enough?To him, it has to be $1mil and above to make any sense! :D
kingkong1984
05-08-11, 15:40
not necessary so
You could take out a term loan, park the money (bullet) in the bank or back to your CPF to make 2.5%
If the correction is that bad (>20%) that you need to top up, just repay your term loan.
Hmm... good points too..
How do u do a term loan?
Next.. if u use the term loan and bought another property.. how?
Maybe I will do something in between if your explanations are clear. :)
Condo Kaiser
05-08-11, 15:47
Just take a equity loan from the equity in your condo. if 1.7mil fully paid for, can take 70% so get 1.19mil in cash.
banks don't care what you do with the money, but MAS advises against using the proceeds of the equity loan to finance a sencond property. if you want to buy another one using the money then have to take loan from another banks (even that is a bit grey)
but if you go invest in other things then no one cares already...
Regulators
05-08-11, 15:48
As I said, clover can cash out and perhaps buy two houses in malaysia, live in one and collect rent from one. Alternatively, he can cash out and downgrade to a smaller unit in a cheaper location and enjoy some cash in the bank. Not much to play with for one pty.
To him, it has to be $1mil and above to make any sense! :D
Hmm... good points too..
How do u do a term loan?
Next.. if u use the term loan and bought another property.. how?
Maybe I will do something in between if your explanations are clear. :)
Theoretically, as long as the difference between the bank valuation of your property and the outstanding loan is > 20% you can take a term loan because maximum loan limit at the moment is 80%. But most of the time, it must be above 30% in order to make it worth the while, that is provided that that you dont use much CPF in the property.
Assuming your valuation is $1.5m, outstanding loan is $600K, (=unrealized "profit" of $900K) and you used up about $100K of your CPF in this property.
What the bank will do is to offer you a mortgage + term loan of up to 80% of your property value. So for this case, it will be $600k (mortgage) + $700k (term loan). However since you use $100K for CPF, they will have to reduce the term loan from $700K to $600K because if you sell your property the money need to go into your CPF first before the banks.
I am not sure if you realize by now, this term loan thing is actually a loop hole around the 60% LTV because investor could actually get back the 20% via term loan after they purchase the property. thats if all 40% is paid by cash.
Having said that term loan also have its risk as people might take out the money and spend in on a porsche or MBS.
Speak to your banker about it, I think different banks might do things differently.
kingkong1984
05-08-11, 16:22
Theoretically, as long as the difference between the bank valuation of your property and the outstanding loan is > 20% you can take a term loan because maximum loan limit at the moment is 80%. But most of the time, it must be above 30% in order to make it worth the while, that is provided that that you dont use much CPF in the property.
Assuming your valuation is $1.5m, outstanding loan is $600K, (=unrealized "profit" of $900K) and you used up about $100K of your CPF in this property.
What the bank will do is to offer you a mortgage + term loan of up to 80% of your property value. So for this case, it will be $600k (mortgage) + $700k (term loan). However since you use $100K for CPF, they will have to reduce the term loan from $700K to $600K because if you sell your property the money need to go into your CPF first before the banks.
I am not sure if you realize by now, this term loan thing is actually a loop hole around the 60% LTV because investor could actually get back the 20% via term loan after they purchase the property. thats if all 40% is paid by cash.
Having said that term loan also have its risk as people might take out the money and spend in on a porsche or MBS.
Speak to your banker about it, I think different banks might do things differently.
Pretty good explanation.
Anyway if anything goes wrong.. you have yourself to blame and it is a case of "BACKSIDE ITCHY".. hahaha....
But I take your point. Good to leverage if you know how to invest for better returns.
As I said, clover can cash out and perhaps buy two houses in malaysia, live in one and collect rent from one. Alternatively, he can cash out and downgrade to a smaller unit in a cheaper location and enjoy some cash in the bank. Not much to play with for one pty.
bro, what is the point for option1? i already have property in malaysia, rented out. But main point is why live in malaysia and travel to sg to work and kids go to schoo? why suffer in the expense of money?
option2 is already at hand right? i am living in a smaller unit and the intention is to upgrade remember? staying put with money in the bank is not the end goal. income and other investments are taking care of that.
Theoretically, as long as the difference between the bank valuation of your property and the outstanding loan is > 20% you can take a term loan because maximum loan limit at the moment is 80%. But most of the time, it must be above 30% in order to make it worth the while, that is provided that that you dont use much CPF in the property.
Assuming your valuation is $1.5m, outstanding loan is $600K, (=unrealized "profit" of $900K) and you used up about $100K of your CPF in this property.
What the bank will do is to offer you a mortgage + term loan of up to 80% of your property value. So for this case, it will be $600k (mortgage) + $700k (term loan). However since you use $100K for CPF, they will have to reduce the term loan from $700K to $600K because if you sell your property the money need to go into your CPF first before the banks.
I am not sure if you realize by now, this term loan thing is actually a loop hole around the 60% LTV because investor could actually get back the 20% via term loan after they purchase the property. thats if all 40% is paid by cash.
Having said that term loan also have its risk as people might take out the money and spend in on a porsche or MBS.
Speak to your banker about it, I think different banks might do things differently.
yes, i have thought about leveraging this way, say with the current high valuation of clover, take a 1mil loan and plunk it in high dividend stocks during the current sell off.... and then wait for QE3 for it to recover, maybe make 20-30%.....
seen it happen before, but then again, these are risks, no doubt a complex one..... end up not sleeping well at night and have to monitor market....
It is good if the property does not drop by more than 30% in this crisis.
Just take a equity loan from the equity in your condo. if 1.7mil fully paid for, can take 70% so get 1.19mil in cash.
banks don't care what you do with the money, but MAS advises against using the proceeds of the equity loan to finance a sencond property. if you want to buy another one using the money then have to take loan from another banks (even that is a bit grey)
but if you go invest in other things then no one cares already...
Theoretically, as long as the difference between the bank valuation of your property and the outstanding loan is > 20% you can take a term loan because maximum loan limit at the moment is 80%. But most of the time, it must be above 30% in order to make it worth the while, that is provided that that you dont use much CPF in the property.
Assuming your valuation is $1.5m, outstanding loan is $600K, (=unrealized "profit" of $900K) and you used up about $100K of your CPF in this property.
What the bank will do is to offer you a mortgage + term loan of up to 80% of your property value. So for this case, it will be $600k (mortgage) + $700k (term loan). However since you use $100K for CPF, they will have to reduce the term loan from $700K to $600K because if you sell your property the money need to go into your CPF first before the banks.
I am not sure if you realize by now, this term loan thing is actually a loop hole around the 60% LTV because investor could actually get back the 20% via term loan after they purchase the property. thats if all 40% is paid by cash.
Having said that term loan also have its risk as people might take out the money and spend in on a porsche or MBS.
Speak to your banker about it, I think different banks might do things differently.
Actually, it may be easier (and cheaper) just to refinance the property on a higher valuation to monetise the gains.
First of all, term loans have shorter repayment periods with much higher than housing loan interest rates. You can't use CPF to repay term loans.
Furthermore, if I understand term loans correctly, they are like personal loans. I am not sure if you can tie-in your property with it as it is not a collateral to the term loan. Better check with your bank again on this.
Just my thoughts, please correct me if I am wrong.
cash out and earn 600k not enough?
$600K is very handy at this point in time.
Cash out! Chiong the stock market. Buy a bungalow later.:) :) :)
$600K is very handy at this point in time.
Cash out! Chiong the stock market. Buy a bungalow later.:) :) :)$600k to buy a bungalow later...wow! You really chionging! Even at 80%LTV, you are talking about only a $2.9 mil (plus stamp duty = $3 mil) bungalow which is relatively cheap to find, if you can find it. :D
Different investment strategy. Will not put everything into one basket with the cash in current climate. Will buy two properties with the cash for down payment and leveraging on the bank.
$600k to buy a bungalow later...wow! You really chionging! Even at 80%LTV, you are talking about only a $2.8mil (plus stamp duty) bungalow which is relatively cheap to find, if you can find it. :D
kingkong1984
06-08-11, 08:11
If no balls... Buy just one and keep the rest as float.
Different investment strategy. Will not put everything into one basket with the cash in current climate. Will buy two properties with the cash for down payment and leveraging on the bank.
With interest rate at record low, we are in extraordinary times, good to leverage on bank and keep some bullet$ ...for unforeseen opportuitie$
i think my timing to sell SUCKZZZZZ...newspaper headlines...BLOODBATH in global markets....damm might have to stay here a few more years and live with all the blady FT in my estate....:banghead: :banghead: :banghead:
i think my timing to sell SUCKZZZZZ...newspaper headlines...BLOODBATH in global markets....damm might have to stay here a few more years and live with all the blady FT in my estate....:banghead: :banghead: :banghead:
Don't worry, when it really get wrong, they will go away fast.:D :D
Don't worry, when it really get wrong, they will go away fast.:D :D
hehe..yeah..Singaporeans can live in peace then.. :D ..
US debt got downgraded from AAA to AA+
Just as i predicted earlier....
tonnes of ripple effects next week.
Black Monday?
Looks like 46% national day discount might come true.... :scared-3:
why are people talking about selling off their properties? Cash out and earn that few hundred k for what? Unless you tell me you want to move to malaysia, then i say by all means sell. Our country's economy is expanding and we are getting more foreigners in to rent your properties, so hold and rent, not sell. i dont foresee a drastic dro
p in prices even though prices might soften a bit.
Yes, unless you can read the market well,hold on to the cash and buy at good discount in near future or years to come.But not many can hold on to cash for long as deposit rate is low.
We should not hold cash. It should always be invested but can be liquidated quickly.
Yes, unless you can read the market well,hold on to the cash and buy at good discount in near future or years to come.But not many can hold on to cash for long as deposit rate is low.
don't be foolish.... look at what is happening today.
people are holding cash because if they put it on anything else, they lose money.
Bank of New York Mellon is charging high fee for large cash deposits because they are seeing fund managers all parking the funds as cash at the moment...
when in doubt, stay out for awhile and there is no harm in keeping cash since it is insured by most government!
don't be foolish.... look at what is happening today.
people are holding cash because if they put it on anything else, they lose money.
Bank of New York Mellon is charging high fee for large cash deposits because they are seeing fund managers all parking the funds as cash at the moment...
when in doubt, stay out for awhile and there is no harm in keeping cash since it is insured by most government!
Thats right, your cash will still remain the same amount even if stocks and funds plunge 50% :D Thats when those vested cry while you can come shopping.
Market no clear direction. Maybe next week qe3
Whether shares, property or investment....only time when it is cheap is when everyone wants to sell, but very few is buying..., but most people stay on the sideline, don't dare to buy becos they want to buy cheaper....When times are good, everyone is buying, most would also jump in for fear of being left out...Herd instinct. It takes guts and balls to make a decision and commit, that's when for some , they can find bargain...
Never put all your eggs in 1 basket..., then again easier said than done..do your own homework, not everyone has the same risk appetite. Good luck! :2cents:
don't be foolish.... look at what is happening today.
people are holding cash because if they put it on anything else, they lose money.
Bank of New York Mellon is charging high fee for large cash deposits because they are seeing fund managers all parking the funds as cash at the moment...
when in doubt, stay out for awhile and there is no harm in keeping cash since it is insured by most government!
I am doing dual currency acount to keep cash intact.and hopefully get some return out of it.
wow wat a quiet weekend my agent marketed my unit today and ONLY 1 call....DAMM....MISSED THE BOAT...:scared-4:
bargain hunter
06-08-11, 23:33
but news reported showroom traffic was quite good for new launches still?
wow wat a quiet weekend my agent marketed my unit today and ONLY 1 call....DAMM....MISSED THE BOAT...:scared-4:
but news reported showroom traffic was quite good for new launches still?
maybe all look c cheapest thing to do on weekends...:D
In theory, yes, but in reality, no. After all the monetary stimulus to jump start the economy, your cash on hand figure may be same but the amount of cash in circulation increased by 2x or more (which means the purchasing value of your cash has dropped by half!). That means hard assets like properties will sooner or later go up to match the increase in cash in circulation! :scared-1:
Thats right, your cash will still remain the same amount even if stocks and funds plunge 50% :D Thats when those vested cry while you can come shopping.
In theory, yes, but in reality, no. After all the monetary stimulus to jump start the economy, your cash on hand figure may be same but the amount of cash in circulation increased by 2x or more (which means the purchasing value of your cash has dropped by half!). That means hard assets like properties will sooner or later go up to match the increase in cash in circulation! :scared-1:
That's why there will bk more millionaire unless they amend the definition.Ty
but news reported showroom traffic was quite good for new launches still?
My take is that new sales are better priced then resale..
I looked at few resales..but after looking at units and pricing, to me it looked that developers pricing is better :beats-me-man:
In theory, yes, but in reality, no. After all the monetary stimulus to jump start the economy, your cash on hand figure may be same but the amount of cash in circulation increased by 2x or more (which means the purchasing value of your cash has dropped by half!). That means hard assets like properties will sooner or later go up to match the increase in cash in circulation! :scared-1:
Soon USD will worth the same as hell bank notes.... :rolleyes:
kingkong1984
07-08-11, 13:14
My take is that new sales are better priced then resale..
I looked at few resales..but after looking at units and pricing, to me it looked that developers pricing is better :beats-me-man:
Since cannot sell anyway... Raise the price so as to give illusion that pricing are still creeping up.
Asking only lah. If u got real offers, some might bite.
Since cannot sell anyway... Raise the price so as to give illusion that pricing are still creeping up.
Same tactic as FEO.
In theory, yes, but in reality, no. After all the monetary stimulus to jump start the economy, your cash on hand figure may be same but the amount of cash in circulation increased by 2x or more (which means the purchasing value of your cash has dropped by half!). That means hard assets like properties will sooner or later go up to match the increase in cash in circulation! :scared-1:
Lot of people betting on printing press working again in US..but in reality its quite hard now.. Obama :doh:..
Republicans had already said that they want less spending not more.. if Obama goes to senate, will get a boot.
"Tea party" very strong.. they can do small QE3..but that would be nothing compared to QE1 and QE2..
am not worried abt US printing machines..
This time printing will come from EU.. better stay away from Euro now.. USD/EUR better trade..USD will rise against EUR.
Lot of people betting on printing press working again in US..but in reality its quite hard now.. Obama :doh:..
Republicans had already said that they want less spending not more.. if Obama goes to senate, will get a boot.
"Tea party" very strong.. they can do small QE3..but that would be nothing compared to QE1 and QE2..
am not worried abt US printing machines..
This time printing will come from EU.. better stay away from Euro now.. USD/EUR better trade..USD will rise against EUR.
US is not e only country printing. Other countries have started. More from Europe may join in soon.
Lot of people betting on printing press working again in US..but in reality its quite hard now.. Obama :doh:..
Republicans had already said that they want less spending not more.. if Obama goes to senate, will get a boot.
"Tea party" very strong.. they can do small QE3..but that would be nothing compared to QE1 and QE2..
am not worried abt US printing machines..
This time printing will come from EU.. better stay away from Euro now.. USD/EUR better trade..USD will rise against EUR.
maybe US say dont waste time liao, own so much $$$$$, lets do 1 mother of all QE and pau off our debts. What can the world do, we are the world currency!!!
All the Govts will be screwed!! including ours...
wow wat a quiet weekend my agent marketed my unit today and ONLY 1 call....DAMM....MISSED THE BOAT...:scared-4:
7th month plus US credit downgrade, can't be expecting otherwise?
thomastansb
08-08-11, 09:36
For Euro, it works differently. In US, US can just agree and start printing. For countries who use Euro, it is far too complicated. Anyway, I just find it dumb to have a common currency. Different country operate differently. Like Italy or Greece, they borrow like there is no tomorrow while Germany works hard for its money. How to balance like this?
maybe US say dont waste time liao, own so much $$$$$, lets do 1 mother of all QE and pau off our debts. What can the world do, we are the world currency!!!
All the Govts will be screwed!! including ours...
haha... can simply refuse to pay.. why waste paper? :D
But that only if US wants to shut its door and never deal with world again.. country like people too..
would you deal with a friend if he don't pay you back debt..or if pay you back half of what you own? or gives you back 50$ notes printed at home printer? :rolleyes:
7th month plus US credit downgrade, can't be expecting otherwise?
yup somemore viewing was by foreigner...:scared-1:
siao liao...i couldnt have picked a better weekend to sell...:scared-3: ..looks like i got to wait a few more years...:scared-3:
siao liao...i couldnt have picked a better weekend to sell...:scared-3: ..looks like i got to wait a few more years...:scared-3:
Pls restart a thread "i couldnt have picked a better weekend to sell" :D
Geylang OKT
09-08-11, 09:50
Pls restart a thread "i couldnt have picked a better weekend to sell" :D
you so bad! :D
Pls restart a thread "i couldnt have picked a better weekend to sell" :D
since i cant sell....now i can change my NOT so cold aircons...:D ...so can sleep peacefully for next few years till next bull run....:sleep:
since i cant sell....now i can change my NOT so cold aircons...:D ...so can sleep peacefully for next few years till next bull run....:sleep:
actually if you think a crash is coming (from your other comments), and even had a viewing, then all the more to consider selling asap, to cashout for another opportunity. unless your unit is your dream home, has good location like ccr or near mrt, or you think only minor correction and not worth the hassle and admin fees of exiting to reenter during significant correction, if any.
you prob thought of all these already, that's why changing aircon. :)
Hopefully not woken up by nightmare with cold sweat in the middle of the night.
since i cant sell....now i can change my NOT so cold aircons...:D ...so can sleep peacefully for next few years till next bull run....:sleep:
since i cant sell....now i can change my NOT so cold aircons...:D ...so can sleep peacefully for next few years till next bull run....:sleep:Bear run may not last so long lah! :spliff:
kingkong1984
09-08-11, 14:21
siao liao...i couldnt have picked a better weekend to sell...:scared-3: ..looks like i got to wait a few more years...:scared-3:
Hahaha might as well give 10 percent discount or more immediately before it drop further...
Tough times ahead. Double whammy... Internal bleeding plus external wound. No need much sense except long term care....
kingkong1984
09-08-11, 14:49
Duplicated
if i put myself in shoes of the buyer will i BUY now...:doh: ...answer is no...so if i not going to buy how to expect others to buy:confused: ...if sell i also got to rent/buy....so if cant sell then lan lan stay first continue to drive honda cibic forget about 3 series....:D
if i put myself in shoes of the buyer will i BUY now...:doh: ...answer is no...so if i not going to buy how to expect others to buy:confused: ...if sell i also got to rent/buy....so if cant sell then lan lan stay first continue to drive honda cibic forget about 3 series....:DSo if sell now and expect people to buy, it must be a super good deal lor! Release your FH at $750 psf or your LH beside MRT at $700 psf, sure people will snap up de! :p Test market lor! :D
kingkong1984
09-08-11, 17:34
Good floor.....
Anything between 500 psf to 750 psf for new properties will have takers right?
Problem is, where to find?
Good floor.....
Anything between 500 psf to 750 psf for new properties will have takers right?
Problem is, where to find?Beginning with you starting to let go of your holding properties! :D
if i put myself in shoes of the buyer will i BUY now...:doh: ...answer is no...so if i not going to buy how to expect others to buy:confused: ...if sell i also got to rent/buy....so if cant sell then lan lan stay first continue to drive honda cibic forget about 3 series....:D
I used to do this... ask why people sell, people buy, what are the reasons, etc. my guru friend said not to bother about the reasons. only consideration is why you want to sell and at what price. so if you are truly serious, put it up again, and when offer comes, seriously decide whether to accept or not, or counter propose something that is win win for both parties. so all boils down to what you want... decide and dun regret either way.
lucky i sold mine.....
:cheers1:
No one will buy now... Unles it's real firesale price..
kingkong1984
09-08-11, 20:52
lucky i sold mine.....
:cheers1:
Make sure buyer exercised option then time to celebrate, buy on next low...
lucky i sold mine.....
:cheers1:
Congrats! managed to get $1.7M? or maybe more?
Congrats! managed to get $1.7M? or maybe more?
If I am buyer of $1.7m, buying for investment, I may not exercise...If buy for own stay becos I like unit, sure will exercise...:2cents:
Congrats! managed to get $1.7M? or maybe more?
slightly more.
slightly more.Congrats! :D
slightly more.
with reference back to yr previous postings, i am rather surprised that u sold clover. I got the impression that u are more inclined to sell off yr HDB
i guess u had just received an irresistible offer few days ago
with reference back to yr previous postings, i am rather surprised that u sold clover. I got the impression that u are more inclined to sell off yr HDB
i guess u had just received an irresistible offer few days ago
you probably misread my postings. HDB such good rental mechanism, why sell? offer was actually received weeks ago, just that it was recently exercised.
propertyinvestor
10-08-11, 12:01
One of my property that I bought in early 2007 appreciated around 80percent capital gain. Holding for 4.5 years with an annual capital gain of close to 20 percent. Very tempted to sell.
you probably misread my postings. HDB such good rental mechanism, why sell? offer was actually received weeks ago, just that it was recently exercised.
ic. :)
u have more than 1 unit at clover?
Just few days ago, u are asking whether to sell or not.
lucky i sold mine.....
:cheers1:
congrats on ur sale of clEver residences...:D ...was a clever move...:spliff:
Geylang OKT
10-08-11, 17:32
One of my property that I bought in early 2007 appreciated around 80percent capital gain. Holding for 4.5 years with an annual capital gain of close to 20 percent. Very tempted to sell.
Better check the valuation again given the current state of the global markets and outlook going forward ;)
bro from personal experience putting my pproperty in mkt last weekend even if gain 100%...whether ANYBODY want to buy i had 3 viewings....investor from China,Malay family and filipino expat....they all come c c look look...only thing they say..beautiful house...KNS then walk out....NO offer...sigh i say...no 1million NO sell...:scared-3:
bro from personal experience putting my pproperty in mkt last weekend even if gain 100%...whether ANYBODY want to buy i had 3 viewings....investor from China,Malay family and filipino expat....they all come c c look look...only thing they say..beautiful house...KNS then walk out....NO offer...sigh i say...no 1million NO sell...:scared-3:
They treat your place as a showflat...:D
proud owner
11-08-11, 08:43
They treat your place as a showflat...:D
must have been really hot outside .... go in to cool off ....
their version of cooling measures
bro from personal experience putting my pproperty in mkt last weekend even if gain 100%...whether ANYBODY want to buy i had 3 viewings....investor from China,Malay family and filipino expat....they all come c c look look...only thing they say..beautiful house...KNS then walk out....NO offer...sigh i say...no 1million NO sell...:scared-3:
perhap use it as a toilet stop?
Or they see "something"?
Try a different tactic. Say someone offered at low price so they will have a different mentality liao! They will counter offer and then re counter offer then maybe you can get what you originally asked for! :D
Better check the valuation again given the current state of the global markets and outlook going forward ;)
For those who are still trying to sell off existing house, due to new house TOP soon. Good luck...:2cents:
For those who are currently trying to sell off existing house, due to new house TOP soon. Good luck...:2cents:If cannot sell at good price, then rent out first! :cheers1:
bro from personal experience putting my pproperty in mkt last weekend even if gain 100%...whether ANYBODY want to buy i had 3 viewings....investor from China,Malay family and filipino expat....they all come c c look look...only thing they say..beautiful house...KNS then walk out....NO offer...sigh i say...no 1million NO sell...:scared-3:
Perhaps your asking price is too high? Are you seriously trying to sell? Or just "fishing" for a good offer? Investors have done their own homework too. They are not so rash as to rush in now unless it's a good buy. You would do the same if you were in their shoes.
If cannot sell at good price, then rent out first! :cheers1:
Agree. The rental market at the moment could be quite good as some people are adopting a wait-and-see attitude and renting to see if they can fish out some good bargains in these turbulent times.
If cannot sell at good price, then rent out first! :cheers1:
House-for-rent is getting more available day by day....:2cents:
Geylang OKT
11-08-11, 09:44
Folks who waited and waited to sell at higher and higher prices are going to get an awakening :o
The market is shifting from sellers' to buyers'. Those who have sold, congrats. :o
The market is shifting from sellers' to buyers'. Those who have sold, congrats. :o
it is really too early to congratulate those who just sold their property recently.
We should congrat those who managed to sell all their stocks last week :)
Folks who waited and waited to sell at higher and higher prices are going to get an awakening :o
The value of a house does not depend on history figures alone. That is only a good figure of past done deal.............:2cents:
Current value should depend on curent situation. Look at stock market now. The final value is knew only when the unit sold................:2cents:
However, there will be exceptional cases, where price doesnt follow. But, rare...............:2cents:
Folks who waited and waited to sell at higher and higher prices are going to get an awakening :o
HENG AH!! I SOLD MY CASPIAN LIAO!!! :D HUAT x 3
it is really too early to congratulate those who just sold their property recently.
We should congrat those who managed to sell all their stocks last week :)
Haha.. I didnt even manage to sell stocks.. I went short too.. haha.. :rocking-the-decks:
Make money in stocks and pick the property market on uptrend..thats the way to go..
Australia jobless rate up now:scared-1:
http://www.cnbc.com/id/44098748
Wait for SG to follow soon :hell-hath-no-fury:
Haha.. I didnt even manage to sell stocks.. I went short too.. haha.. :rocking-the-decks:
Make money in stocks and pick the property market on uptrend..thats the way to go..
Australia jobless rate up now:scared-1:
http://www.cnbc.com/id/44098748
Wait for SG to follow soon :hell-hath-no-fury:
common folks will not be able to take the stress of shorting.
good for u:)
common folks will not be able to take the stress of shorting.
good for u:)
ya it is not easy to short...u short market go up ...:scared-1: ...
i kena so many times now just be a linesman...and c c look look...at least can sleep peacefully...:D
kingkong1984
11-08-11, 22:34
HENG AH!! I SOLD MY CASPIAN LIAO!!! :D HUAT x 3
u can say that again....
lucky lucky lucky...
Geylang OKT
11-08-11, 22:37
I think the markets are very volatile and the downside risks are very real. :)
just look at the price of big banks being whacked down!!
just rumour about france to to downgraded cost french banks to be hammered.
imagine if rumour started about Singapore losing its AAA ratings, you think DBS and all will not be scared??
kingkong1984
11-08-11, 22:44
just look at the price of big banks being whacked down!!
just rumour about france to to downgraded cost french banks to be hammered.
imagine if rumour started about Singapore losing its AAA ratings, you think DBS and all will not be scared??
They are very scared lah....
Been warning for free for so long... no one appreciates...
the worst is yet to come. Dun believe me.. go and buy in and blame your own ass...
Geylang OKT
11-08-11, 23:44
They are very scared lah....
Been warning for free for so long... no one appreciates...
the worst is yet to come. Dun believe me.. go and buy in and blame your own ass...
Best advice all day! :D
devilplate
12-08-11, 08:46
Hold on to property till 2012 first:2cents:
*my 10k post* whahahaha:ashamed1: :D
Hold on to property till 2012 first:2cents:
*my 10k post* whahahaha:ashamed1: :DCongrats on your posting milestone and btw, welcome back! :cheers1:
bargain hunter
12-08-11, 11:58
welcome back! back with a vengeance i see, 30 posts in a few hours? LOL. :)
Hold on to property till 2012 first:2cents:
*my 10k post* whahahaha:ashamed1: :D
devilplate
12-08-11, 12:14
welcome back! back with a vengeance i see, 30 posts in a few hours? LOL. :)
can afford to spend some time here and tcss liao mah! whahahaha
bargain hunter
12-08-11, 12:26
hmm...let me guess, past few days busy buying stocks, today just kickback and relax? :D
can afford to spend some time here and tcss liao mah! whahahaha
devilplate
12-08-11, 12:29
hmm...let me guess, past few days busy buying stocks, today just kickback and relax? :D
not busy buying but i got very mixed feelings for the past 2week.
so nid to siam forum n realign my tots:)
not busy buying but i got very mixed feelings for the past 2week.
so nid to siam forum n realign my tots:)So after sorting out your thoughts you return to tcss? Well done on sorting out your thoughts and feelings! Cheers! :cheers1:
not busy buying but i got very mixed feelings for the past 2week.
so nid to siam forum n realign my tots:)
welcome back forum is a good stress reliever...can tcss :D
bargain hunter
12-08-11, 16:31
so how many viewings has your agent secured for u this weekend so far?
welcome back forum is a good stress reliever...can tcss :D
Regulators
12-08-11, 17:01
Viewing condos a good pastime indeed.
so how many viewings has your agent secured for u this weekend so far?
my agent very agrresive and my expectations not high sell at valuation...but somehow even he is suprised at the uneasy quietness in the market...this time around...looks like everybody pull handbrake...:doh:
my agent very agrresive and my expectations not high sell at valuation...but somehow even he is suprised at the uneasy quietness in the market...this time around...looks like everybody pull handbrake...:doh:
7th month effect mah... everyone looking to blame stock crash and not hungry ghost??
my agent very agrresive and my expectations not high sell at valuation...but somehow even he is suprised at the uneasy quietness in the market...this time around...looks like everybody pull handbrake...:doh:If he's an experienced agent, he shouldn't feel surprise after so much has happened plus the hungry ghost period! :rolleyes:
If he's an experienced agent, he shouldn't feel surprise after so much has happened plus the hungry ghost period! :rolleyes:
maybe its agent talk but he told me dont worry all we need is 1 buyer....:scared-4: ...makes sense;)
devilplate
12-08-11, 23:24
maybe its agent talk but he told me dont worry all we need is 1 buyer....:scared-4: ...makes sense;)
U oredi got another plc to move to?
U oredi got another plc to move to?
currently renting out my hdb if i sell my pc...use the monthly rental from hdb plus top up few hundreds to rent a pc for about 1 year or so...if market plunge in a year buy another pc...if no plunge go back to hdb and live happily ever after....:scared-4:
currently renting out my hdb if i sell my pc...use the monthly rental from hdb plus top up few hundreds to rent a pc for about 1 year or so...if market plunge in a year buy another pc...if no plunge go back to hdb and live happily ever after....:scared-4:Sounds like a plan.
Why don't you move back to your HDB flat to stay for that 1 year so can save that few hundred dollars while waiting?
You need not wait for market to plunge to get a PC. Firesales also can. Just have to be diligent in looking out! All the best! :spliff:
there needs to be a push factor on why you need to be in a PC now as opposed to HDB. For me, its probably distance to work than anything else....
condo facilities? maybe since kids are now at the age that they will enjoy swimming and perhaps a game of tennis. some argue that you can still join a country club, but again, distance is a pain...
but if i have to wait, i will wait....
Where are the sources of firesales?
Sounds like a plan.
Why don't you move back to your HDB flat to stay for that 1 year so can save that few hundred dollars while waiting?
You need not wait for market to plunge to get a PC. Firesales also can. Just have to be diligent in looking out! All the best! :spliff:
They should ban the word "firesales"
doesnt give any meaning.
kingkong1984
13-08-11, 09:42
CEA should regulate it.
Can use instead.
Selling below valuation.
Auction and
Bank sale
I believe sometime it is luck. I know of a high-flyer and prominent guy in the similar industry who are so busy with work that sell the unit at below market price. Buyer was there at the right time and place. :spliff:
They should ban the word "firesales"
doesnt give any meaning.
I believe sometime it is luck. I know of a high-flyer and prominent guy in the similar industry who are so busy with work that sell the unit at below market price. Buyer was there at the right time and place. :spliff:
he sell the unit himself? didnt use agent?
Left it to the secretary who liaise with the exclusive agent with the instruction to sell at $Xpsf. Believe agent just want to close the deal as long as it is within the asking price. Buyer benefitted.
he sell the unit himself? didnt use agent?
There will be firesales in good or bad times. However, 1 year ago if there were any firesale properties, agents would keep it for themselves to flip (mostly doing a disservice to the sellers). Those reported in the newspapers are only the tip of the iceberg.
After the last CM, such practices have been seriously curtailed. Firesales if any should be able to surface properly.
Some are advertising firesale and selling slightly below bank valuation. But bank valuation itself rely on valuation of valued which can vary sometimes by about 10%...,
E.g. One of my property, valuations vary by some $350k between top end and bottom valuer...more than 10% variance....
So effectively...hard to say sell below so called valuation is a fire sale. In any case, if come across such property, need to act fast..., issue cheque and sign OTP...
Buyer may not get the deal if goes to the wrong agent, i.e. not the exclusive agent. The exclusive agent may not want to co-share the commission with co- broke agent if he has a direct deal from the buyer.
Some are advertising firesale and selling slightly below bank valuation. But bank valuation itself rely on valuation of valued which can vary sometimes by about 10%..., so effectively...hard to say below so called valuation is a fire sale. In any case, if come across such property, need to act fast..., issue cheque and sign OTP...
Buyer may not get the deal if goes to the wrong agent, i.e. not the exclusive agent. The exclusive agent may not want to co-share the commission with co- broke agent if he has a direct deal from the buyer.
Yes, agree. If u r the buyer and your agent is co-broking, from my past experience, hard to get firesale deal done....
Most of the time, have to personally deal with the seller agent...., so that seller agent get the full commission and more in his interest to close the deal...
I was lucky once with that kind of deal done as the co-broke agent has a few cheques slightly higher than mine just immediately after the lethman brother crisis.
Yes, agree. If u r the buyer and your agent is co-broking, from my past experience, hard to get firesale deal done....
Most of the time, have to personally deal with the seller agent...., so that seller agent get the full commission and more in his interest to close the deal...
I was lucky once with that kind of deal done as the co-broke agent has a few cheques slightly higher than mine just immediately after the lethman brother crisis.
Guess agent pick the cheque that maximize his commission...:D
Guess agent pick the cheque that maximize his commission...:DProvided they all come within a certain period of time! I offered a cheque at the asking price on a Friday and had to wait till Monday when the owner returned to close the deal. Wow! What stress that was! Good thing no one else offered higher during that period of time! :)
Provided they all come within a certain period of time! I offered a cheque at the asking price on a Friday and had to wait till Monday when the owner returned to close the deal. Wow! What stress that was! Good thing no one else offered higher during that period of time! :)
Yes, sometimes, owner take some time. I always tell Agent my cheque is only valid for max 2 days but normally I give Agent 1 day. If owner can't decide, then deal is off. Just move on...
Last purchase, 7pm give cheque, Agent came back at 10.30pm same nite with OTP document and acceptance. Was impressed with Agent.
Sounds like a plan.
Why don't you move back to your HDB flat to stay for that 1 year so can save that few hundred dollars while waiting?
You need not wait for market to plunge to get a PC. Firesales also can. Just have to be diligent in looking out! All the best! :spliff:
yup on paper sounds like the perfect fairy tale....i have a wonderful hdb apt and a pc that can sell at fantastic price but in reality...pc got no DECENT offer(tks to all that shit in financial mkts) and the hdb ....hmm i hope my upstairs neighbour that used to come back every night 2 to 3am DRUNK and hurl vulgaritiies is DEAD...:sleep: RIP...:simmering: ....but honestly once u move to pc from hdb hard to move back like going from a 1.6 to a 2 litre....:D
wah bros u all really pro open cheque here and there buy property like change underwear...:scared-1: ....for me buy one property stress must think thousand times....:scared-4:
yup on paper sounds like the perfect fairy tale....i have a wonderful hdb apt and a pc that can sell at fantastic price but in reality...pc got no DECENT offer(tks to all that shit in financial mkts) and the hdb ....hmm i hope my upstairs neighbour that used to come back every night 2 to 3am DRUNK and hurl vulgaritiies is DEAD...:sleep: RIP...:simmering: ....but honestly once u move to pc from hdb hard to move back like going from a 1.6 to a 2 litre....:DYou are referring to cars, right? I will still change from 2 litre to 1.6 or even 1.5 if it fits my functional demands and if my pockets are tight! I'm sure if you market your PC and patiently wait or just ask at valuation, should sell within one or two months lah! Then again I totally understand the thought of moving back to your HDB and its totally unhelpful that your upstairs neighbour has such 'nice' behaviors. :spliff2:
wah bros u all really pro open cheque here and there buy property like change underwear...:scared-1: ....for me buy one property stress must think thousand times....:scared-4:If you see a super good deal and think a thousand times, you will not get that deal! :tsk-tsk: :p :D Anyway I'm not in that category you are referring to! :spliff: Some others in the forum are in that category though! :cheers1:
If u see a good deal and have the bullet$ and something u have been on the lookout for, what will u do? I don't many will sit and wait, broadcast and ask for so many opinions, I would quickly call Agent, view and grab!:D
If u see a good deal and have the bullet$ and something u have been on the lookout for, what will u do? I don't many will sit and wait, broadcast and ask for so many opinions, I would quickly call Agent, view and grab!:D Got to act fast with good deal,
Got to act fast with good deal,
Agree...:D
I had two deals which were done within 1-2 days. i had a purchase once where the agent had confirmed with the seller on the agreed purchase price and then up the seller up the price subsequently. Fortunately, I had not regrets with that purchase. Just have to do more research.
Agree...:D
If u see a good deal and have the bullet$ and something u have been on the lookout for, what will u do? I don't many will sit and wait, broadcast and ask for so many opinions, I would quickly call Agent, view and grab!:D
i know wat u mean :doh: March 2009:doh: ...the bayshore 2 bedder $600k(936sqft)...:banghead: :banghead: :banghead: ...agent say u buy unit owner give u free brand new microwave oven...unfortunately that time because of economic situation my balZZZZ was touching the ground...so no $500k NO buy...now my balzzz back in place and the unit selling at $900k...:scared-1:
A lot of good buy in first quarter of 2009 (post lethman crisis). Not so difficult to find then.
i know wat u mean :doh: March 2009:doh: ...the bayshore 2 bedder $600k(936sqft)...:banghead: :banghead: :banghead: ...agent say u buy unit owner give u free brand new microwave oven...unfortunately that time because of economic situation my balZZZZ was touching the ground...so no $500k NO buy...now my balzzz back in place and the unit selling at $900k...:scared-1:
i know wat u mean :doh: March 2009:doh: ...the bayshore 2 bedder $600k(936sqft)...:banghead: :banghead: :banghead: ...agent say u buy unit owner give u free brand new microwave oven...unfortunately that time because of economic situation my balZZZZ was touching the ground...so no $500k NO buy...now my balzzz back in place and the unit selling at $900k...:scared-1:
We all at 1 time or another also go thru this "bang-balls" type of situation, learn and wise up the next time "goodies" come along the way, best of luck!
It is far and fewer these days. The quantum jump is so high since 2009 unless there is a major correction. With LKY saying last nite again in his National Day rally that there is a need for foreign talents. I am sure his son will reiterate the same point.
We all at 1 time or another also go thru this "bang-balls" type of situation, learn and wise up the next time "goodies" come along the way, best of luck!
It is far and fewer these days. The quantum jump is so high since 2009 unless there is a major correction. With LKY saying last nite again in his National Day rally that there is a need for foreign talents. I am sure his son will reiterate the same point.Ya, much harder to find these days, let's see in the mths ahead...if got any "durians" to pick up...:D
LKY kinda of set agenda for PM speech...., guess his advice to his son over dinner talk?:D
Like to buy and keep the good ones. :spliff:
Ya, much harder to find these days, let's see in the mths ahead...if got any "durians" to pick up...:D
LKY kinda of set agenda for PM speech...., guess his advice to his son over dinner talk?:D
Ya, much harder to find these days, let's see in the mths ahead...if got any "durians" to pick up...:D
LKY kinda of set agenda for PM speech...., guess his advice to his son over dinner talk?:DHopefully prices will soften in months ahead! So did last week's frightening stock market affect housing prices? Although it takes couple of months to confirm, I don't think so! :(
Hopefully prices will soften in months ahead! So did last week's frightening stock market affect housing prices? Although it takes couple of months to confirm, I don't think so! :(
Din find any "durians" yet, if global mkts continue to be depressed, we could find some in mths' ahead...
Din find any "durians" yet, if global mkts continue to be depressed, we could find some in mths' ahead...Yes yes... maybe 2012 will be more promising to find D24 or mao san wang! :D
Yes yes... maybe 2012 will be more promising to find D24 or mao san wang! :D
Price may hve up higher by then & correction may just bring it back to today"s level.
Price may hve up higher by then & correction may just bring it back to today"s level.Agreed to a small extend. But housing prices are not shooting up currently. Slow and steady! :cheers1:
Agreed to a small extend. But housing prices are not shooting up currently. Slow and steady! :cheers1:
Even a 1.5% increment perry quarter is quite high after 4 quarters.
You are referring to cars, right? I will still change from 2 litre to 1.6 or even 1.5 if it fits my functional demands and if my pockets are tight! I'm sure if you market your PC and patiently wait or just ask at valuation, should sell within one or two months lah! Then again I totally understand the thought of moving back to your HDB and its totally unhelpful that your upstairs neighbour has such 'nice' behaviors. :spliff2:
oh ok it takes 1 to 2mths ...now already 1 to 2 weeks no decent offer i already kan cheong spider...:D ....guess got to be patient no wonder my agent so steady...:cool:
oh ok it takes 1 to 2mths ...now already 1 to 2 weeks no decent offer i already kan cheong spider...:D ....guess got to be patient no wonder my agent so steady...:cool:
Be patient, after Ghost month, most of the time, buying will up...
oh ok it takes 1 to 2mths ...now already 1 to 2 weeks no decent offer i already kan cheong spider...:D ....guess got to be patient no wonder my agent so steady...:cool:There are usually two phases to selling a condo. First phase is when people test the seller's willingness to let go cheaper than asking so they offer low. Then phase 2 kicks in after couple of weeks (during non booming times). Agent will tell potential buyers the last offer of xxx is rejected so new buyers will come with improved offers. However, during really good times when time is of the essence, people may come and immed meet the asking price, aka skip phase 1 and jump to phase 2 instantly! :p
This is the worst time to sell a property because buyers are cautious and your property is probably worth more than what they are testing you with. Don't give in! If you sell now, where are you going to park the money - in a bank when the interest is so low, and with risks of failures and crisis?? Or in gold when the price is already so high? In the end, the best thing to do is to hold the property and rent it out (or own stay!).
Be patient, after Ghost month, most of the time, buying will up...
Yes, the same thing happened last year when I monitored the figures closely. Wait for the inflation figures to be announced. When more people link high inflation with low interest rates the banks are giving, more people will shift their wealth into properties, especially those located near MRT. You know our transportation cost and travelling time can only go up.
Yes, the same thing happened last year when I monitored the figures closely. Wait for the inflation figures to be announced. When more people link high inflation with low interest rates the banks are giving, more people will shift their wealth into properties, especially those located near MRT. You know our transportation cost and travelling time can only go up.Inflation rates over the past few quarters have been high and interest rates have been at record lows but the effects on housing market are still moderately mild! :beats-me-man:
Inflation rates over the past few quarters have been high and interest rates have been at record lows but the effects on housing market are still moderately mild! :beats-me-man:
MMs r still doing quite well. Only mass market condos at ulu locations r struggling. Problem is these developers n buyers have good holding power given next 2 years+ of low interest rate. Unless we have recession for more than 1 year n many pp r retrenched, an unlikely scenario since immigration is now restricted. Many places r still recruiting.
MMs r still doing quite well. Only mass market condos at ulu locations r struggling. Problem is these developers n buyers have good holding power given next 2 years+ of low interest rate. Unless we have recession for more than 1 year n many pp r retrenched, an unlikely scenario since immigration is now restricted. Many places r still recruiting.So the most likely scenario of dipping economy is for Europe and US to default and that will only come in 2013? So must sell by next year and then buy in the following year? :beats-me-man:
This is the worst time to sell a property because buyers are cautious and your property is probably worth more than what they are testing you with. Don't give in! If you sell now, where are you going to park the money - in a bank when the interest is so low, and with risks of failures and crisis?? Or in gold when the price is already so high? In the end, the best thing to do is to hold the property and rent it out (or own stay!).
yup thought about it but since i commited to exclusive with my agent just wait it out for 3 mths if i get my price good...move on dont look back..if cannot sell yes rental may be an option...the way i look at it market conditions are such that buyers and sellers are testing each other while agents all kan cheong spider...:D
yup thought about it but since i commited to exclusive with my agent just wait it out for 3 mths if i get my price good...move on dont look back..if cannot sell yes rental may be an option...the way i look at it market conditions are such that buyers and sellers are testing each other while agents all kan cheong spider...:DAgents will always tell buyers now is the best time to buy and will tell owners now is the best time to sell. So do agents themselves buy or sell now? :confused:
So the most likely scenario of dipping economy is for Europe and US to default and that will only come in 2013? So must sell by next year and then buy in the following year? :beats-me-man:
Will they default, print more $, or EU breaks up? V hard to tell. Juz hold on to ur properties, esp if they r FH or 999LH. If crash badly just add another one. We have limited space to expand n labour n material costs r set to go up.
Will they default, print more $, or EU breaks up? V hard to tell. Juz hold on to ur properties, esp if they r FH or 999LH. If crash badly just add another one. We have limited space to expand n labour n material costs r set to go up.Totally agreed. If holding power is not a problem, just keep your FH and 999LH and watch how the market moves in the next 12 months to 18 months. Save now so when market dips, can buy. Otherwise if market goes up, then consider selling your property. :spliff:
actually not so bad so far in 2weeks got about 6 viewings but no concrete offer one ridiculous one 5% below val from investor probably trying luck...so i wilol just sit firm till i get my price otherwise might consider taking an equity loan and renting out my property move back to my hdb...
actually not so bad so far in 2weeks got about 6 viewings but no concrete offer one ridiculous one 5% below val from investor probably trying luck...so i wilol just sit firm till i get my price otherwise might consider taking an equity loan and renting out my property move back to my hdb...
I'm thinking of taking equity for my D11 too. Bank can offer valuation of near to Sgd500k above my purchase price. I've kept this for slightly over one year. But like you, I was initially planning to sell too.
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