got reliable sources its later part of Q2 2009.
Newbie
got reliable sources its later part of Q2 2009.
Newbie
Last friday there was a 2 bedroom apartment (980 square feet) going at $780psf. TOP date according to the agent was 4Q 2009. Bank loan is approved up to 70% only nowadays.
Newbie
Yah, i'm a little concerned about the way prices are dropping. Guess that's one of the risks of property investing.
With regards to the bank loan, it's not just the quantum they are willing to loan. It's also their valuation of the property. If the value of the property is still the same as it was when it was launched, then 70% will not pose a problem since most buyers prob opted for the 30% deferred payment and the rest on TOP. However, if the valuation of the property drops (and it's most likely to have dropped) then those who have paid 30% already will need to top up some more cash since the banks won't be loaning the full amount of the 70% balance...
Originally Posted by Conservative
Newbie
Couldn't agree with you more. Banks are known to request owners to top up whenever the valuation of the property drops. Thus if we are not able to fulfill 50% of the property value at any time, it's best not to invest at all.
Newbie
I am looking for 1BR or studio for investment.
Whether you are a owner or agent. You can PM me on the details eg. asking price, stake # and your contact details.
Newbie
Look at today's Straits Times Classifieds.
Someone willing to sell a 1016sqft loft for $700k. I called up, owner is willing to release at $630K NETT.
So what is that? Less than $630psf!!!!
TOP is coming soon. A lot of pain is going around...
Newbie
ya man... it seems like there is going to be alot of blood soon.. good luck to all
Newbie
yup... and that unit is on level 8, overlooking greenery. can just imagine what happens to the rest should this unit be sold and caveat lodged. valuations will be falling for sure.
Newbie
If it is true, than what are you waiting for??? If it is too good to be true you better think twice.
Junior
I called up, owner is willing to release at $630K NETT.
- agent says owner will consider
Gd deal or not its really up to you.. i believe prices will still fall further. Probably a gd deal for small family who works near there. Would rather wait a few more months for better deals since its a 1000+sq ft duplex studio, If prices drop further it would be a better investment to top up a few hundred k for a 2rm at prime districts. Plus if some lucky guy really bot it, we can potentially look at 2bedders @ ONR with such psf after setting a new record low benchmark
Newbie
Agree. Therefore I am sitting here, waiting for someone to grab that unit and lodge the caveat. Then prices will go into free fall....I called up, owner is willing to release at $630K NETT.
- agent says owner will consider
Gd deal or not its really up to you.. i believe prices will still fall further. Probably a gd deal for small family who works near there. Would rather wait a few more months for better deals since its a 1000+sq ft duplex studio, If prices drop further it would be a better investment to top up a few hundred k for a 2rm at prime districts. Plus if some lucky guy really bot it, we can potentially look at 2bedders @ ONR with such psf after setting a new record low benchmark
That's when we can come in!
Anyone here wants to make that happen? Plse call the Knight Frank agents (Sophia/Jordan) at 94308653. Quick quick.
Junior
Agree. Therefore I am sitting here, waiting for someone to grab that unit and lodge the caveat. Then prices will go into free fall....
That's when we can come in!
Anyone here wants to make that happen? Plse call the Knight Frank agents (Sophia/Jordan) at 94308653. Quick quick.
anywhere i can see site plan and floorplans first?
Junior
lol all waiting for the lucky buyer to break new record low.. haha
TCSS
http://www.rochlow.com/ONR.htmanywhere i can see site plan and floorplans first?
Newbie
Even if this owner is willing to sell at $630psf doesn't mean ALL owners in ONR will follow. This owner could be desperate to cash out.I called up, owner is willing to release at $630K NETT.
- agent says owner will consider
Gd deal or not its really up to you.. i believe prices will still fall further. Probably a gd deal for small family who works near there. Would rather wait a few more months for better deals since its a 1000+sq ft duplex studio, If prices drop further it would be a better investment to top up a few hundred k for a 2rm at prime districts. Plus if some lucky guy really bot it, we can potentially look at 2bedders @ ONR with such psf after setting a new record low benchmark
Newbie
True..but this is the beginning...it will get worse. Temasek posted big losses...most who bought in the peak period will follow suit...
Junior
In this property market game, who has holding power rules. If owners have the holding power, they would not need to sell at this time in the first place. Anyone who is looking to liquidate at this current situation is definitely in urgent need of cash or for other reasons and we as buyers will have more negotiating power since the psf has dropped significantly.
Newbie
What you say is very true. But the concern is once the caveat is lodged, bank will use this price as a indication for valuation. Buyers will use this as a benchmark to buy into ONR. This will create a standoff between buyer n seller n see who buay loon first lor. Matter of holding power actually. The problem now is there are buyers who are willing to match seller asking price, but the bank can't match seller asking price as tehy are very prudent now. So buyer give up and wait. Most buyer do not want to buy above valuation now and pay cash
On a brighter note, thought prices might/should continued to go lower BUT good units might not appear. So buyers will still buy if it is a good unit and the price is reasonable. So there are still transaction going on. Jan resale volume was very good after a very lacklustle Nov and Dec. For developer sale, just see Caspian. Very good sales. What recession
Last edited by code01; 10-02-09 at 22:39.
Newbie
lol very clever of uAgree. Therefore I am sitting here, waiting for someone to grab that unit and lodge the caveat. Then prices will go into free fall....
That's when we can come in!
Anyone here wants to make that happen? Plse call the Knight Frank agents (Sophia/Jordan) at 94308653. Quick quick.
Newbie
Anyway, I called up HSBC ytd to check their valuations for ONR. They are currently pricing it at 700 plus psf, which is based on the lowest psf of the caveat lodged. Should the $630K unit be sold, I can only imagine what the bank valuation for the rest of the units be like.lol very clever of u
If I am a ONR owner, I will get financing now, no matter what the loan quantum may be. Wait a month or so, when the caveat is lodged, I am not even sure how much financing I can get.
There is a lot of pain out there, esp among owners of multiple units. What I understand is that UOL sent a letter to all ONR owners recently, stating that the TOP of ONR is to be brought forward from 2011 to 3Q 2009. That evidently spooked a lot of owners out.
Newbie
I understand even if you get financing now, the bank can still ask you to top up if the price falls too much
Junior
looking for 2, 2+S at 600-650psf
Newbie
for that price range,I doubt so ....looking for 2, 2+S at 600-650psf
Newbie
Hey folks,
I am looking for a 2BR unit @ $750 to $780psf. I was told the recent caveat lodged was around $780psf in April.
Newbie
Anyone owns a unit facing Nepal Hill? Almost wanted to buy a unit there but realised in time that it's west facing ... meaning it will have hot afternoon sun! Wonder why the developer designed the project to have most units facing west.
Anyone with 3 + study or 4 bedroom unit that's non west-facing to sell? Looking at below $800 psf.
Ordinary
Anyway, what you said was wrong!
And what I said was right!
Why am I so sure?
I just sold my ONR 3-bedroom at $1,0xx psf and make a decent profit.
Newbie
I feel sad for you that after 9 mths, you still remember my comments and bother to reply me and try to wag your tail to prove how much money you have made? To bear a grudge for so long, to live a life of unforgiveness is both painful and harmful. Worst of all is I'm not even aware of your unforgiveness and my life goes on joyfully like normal. Is it so stressful holding the hot potato that you didnt even bother to pot a single post from Nov 08 until you finally sold it? But i'm kind hearted. I'm happy that you mange to pass your potato to somebody else coz I think you can't really handle big money.
While you might have made some profits, I'm pretty sure you will guard the profits closely as you seems to be like a novice in property investment and the last 9 mths must have been a hell of a ride for you to go through. So with a chance to make $100-200psf, quickly dump. If strong holder, you would have held on or even ask for more. You mean you also think the mkt is going to crash (my hypothesis is actually not proven wrong strictly speaking), if not why sell now?
Now that you have sold, I'm also quite sure you would join my camp and argue for prices to drop so you can buy back cheap.....or you will now stay out of property as you just can't afford to lose?
At the end of the day, its doesnt matter whether you are right or I'm wrong. What's important is to maintain our health without losing our wealth. By holding my horses back in 2008 and placing the right bets, I have made enough to fully paid off (if i wish to) 2 units of Cosmopolitan in early 2009.
So please watch your health, this is just a forum, no need to take the comments so seriously, take it as a source of tabloid news and do your own analysis.
Ciao
Global recession is coming....
Not sure anybody would like to buy such a project. I initially thought this is a HDB or some DBSS HDB flats. People walking past the ground floor unit can peek into the apartment and see clearly what is happening in there. Totally no privacy at all. Even higher floors are no better because being just beside main roads.
Ordinary
Why continue to be so negative?I feel sad for you that after 9 mths, you still remember my comments and bother to reply me and try to wag your tail to prove how much money you have made? To bear a grudge for so long, to live a life of unforgiveness is both painful and harmful. Worst of all is I'm not even aware of your unforgiveness and my life goes on joyfully like normal. Is it so stressful holding the hot potato that you didnt even bother to pot a single post from Nov 08 until you finally sold it? But i'm kind hearted. I'm happy that you mange to pass your potato to somebody else coz I think you can't really handle big money.
While you might have made some profits, I'm pretty sure you will guard the profits closely as you seems to be like a novice in property investment and the last 9 mths must have been a hell of a ride for you to go through. So with a chance to make $100-200psf, quickly dump. If strong holder, you would have held on or even ask for more. You mean you also think the mkt is going to crash (my hypothesis is actually not proven wrong strictly speaking), if not why sell now?
Now that you have sold, I'm also quite sure you would join my camp and argue for prices to drop so you can buy back cheap.....or you will now stay out of property as you just can't afford to lose?
At the end of the day, its doesnt matter whether you are right or I'm wrong. What's important is to maintain our health without losing our wealth. By holding my horses back in 2008 and placing the right bets, I have made enough to fully paid off (if i wish to) 2 units of Cosmopolitan in early 2009.
So please watch your health, this is just a forum, no need to take the comments so seriously, take it as a source of tabloid news and do your own analysis.
Ciao
I disappeared for a long holiday.
I am going for another one this week again.
I believe the market will continue to go up!
You will be wrong again!
F01 N54 Sheer Driving Pleasure
I feel sad for you that after 9 mths, you still remember my comments and bother to reply me and try to wag your tail to prove how much money you have made? To bear a grudge for so long, to live a life of unforgiveness is both painful and harmful. Worst of all is I'm not even aware of your unforgiveness and my life goes on joyfully like normal. Is it so stressful holding the hot potato that you didnt even bother to pot a single post from Nov 08 until you finally sold it? But i'm kind hearted. I'm happy that you mange to pass your potato to somebody else coz I think you can't really handle big money.
While you might have made some profits, I'm pretty sure you will guard the profits closely as you seems to be like a novice in property investment and the last 9 mths must have been a hell of a ride for you to go through. So with a chance to make $100-200psf, quickly dump. If strong holder, you would have held on or even ask for more. You mean you also think the mkt is going to crash (my hypothesis is actually not proven wrong strictly speaking), if not why sell now?
Now that you have sold, I'm also quite sure you would join my camp and argue for prices to drop so you can buy back cheap.....or you will now stay out of property as you just can't afford to lose?
At the end of the day, its doesnt matter whether you are right or I'm wrong. What's important is to maintain our health without losing our wealth. By holding my horses back in 2008 and placing the right bets, I have made enough to fully paid off (if i wish to) 2 units of Cosmopolitan in early 2009.
So please watch your health, this is just a forum, no need to take the comments so seriously, take it as a source of tabloid news and do your own analysis.
CiaoFarnie, you are funny!
Wrong means wrong. Why try to save face?
Feel sad? Feel sad for yourself? We feel sad for you too!
By pointing out your weakness, others will be spared from following you and making the same mistake.
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