Crazy ! Bishan 5 Room Asking S$780,000 !

[CJREDDEVIL 0]

Hi Forumers,

Just wondering whether the "owner" or "the agent" is CRAZY(SIEOW) !

Valuation for this 5-room( abt 121sqm) is S$590k and selling price for S$780k ! ( COV = S$190k ! )

Can get an EM/EA unit (150sqm) bigger space for only around S$600 .

Do you think it's a serious seller or just testing & teasing the market.

Well, definately got to salute the agent whom dare to post this sales.....SIEOW !!! ( beh hiaw pai sei )

http://www.iproperty.com.sg/propertylistin...DB_Flat-ForSale

Any comments please....Cheers!

[asoon88 0]

Hi Forumers,

Just wondering whether the "owner" or "the agent" is CRAZY(SIEOW) !

Valuation for this 5-room( abt 121sqm) is S$590k and selling price for S$780k ! ( COV = S$190k ! )

Can get an EM/EA unit (150sqm) bigger space for only around S$600 .

Do you think it's a serious seller or just testing & teasing the market.

Well, definately got to salute the agent whom dare to post this sales.....SIEOW !!! ( beh hiaw pai sei )

http://www.iproperty.com.sg/propertylistin...DB_Flat-ForSale

Any comments please....Cheers!

Well, one doesn't need to pass primary school maths to know that it would be a dumb thing to pay $590K or $780K or even $600K ! This is an HDB flat.

What's so wonderful about Bishan ? Gettings stuck in jams ? Having an address with the word "BISHAN" or just following the crowd ? Pay according to what one can afford based on a 15 year loan. Don't be fooled into 20, 25 or 30 year loan tenures by the HDB or agent. A property only has value when someone is willing to offer a price for it. Look at the numerous landed and condo property owners. Many of them are just sitting on assumed paper gain. No one is willing to pay their asking price.

[Assassin 0]

Hi Forumers,

Just wondering whether the "owner" or "the agent" is CRAZY(SIEOW) !

Valuation for this 5-room( abt 121sqm) is S$590k and selling price for S$780k ! ( COV = S$190k ! )

Can get an EM/EA unit (150sqm) bigger space for only around S$600 .

Do you think it's a serious seller or just testing & teasing the market.

Well, definately got to salute the agent whom dare to post this sales.....SIEOW !!! ( beh hiaw pai sei )

http://www.iproperty.com.sg/propertylistin...DB_Flat-ForSale

Any comments please....Cheers!

Hi, what you said(about testing market) maybe one of the possibilities. But another possibility which I think is highly possible is the seller has no choice but to ask for such a high COV. Reason being the valuation might not even match the price he bought previously. The transacted prices for Bishan flats was so high in the 90s that even now at this moment with the current high prices of HDB resale cannot even match up to that period in the mid 90s. So for those young couple or those who are buying flat for the 1st time and complain about the high resale price and the COV, you guys havent see anything yet

Edited October 22, 2009 by Assassin

[berry_surprise 0]

this is a NO DEAL for me.

[yoongf 11]

It is just an ad. Nothing to get excited about. In fact, it's not that far fetched.

If I buy at flat at valuation, say.. $590K.. and I spent $200K in renovation, such as cladding every inch with $20psf slab cut marble, and using $10K toilet bowls, with $1K taps/rainshower/mixers/bathtubs, my flat wld effectively be worth the $200K COV. A $200K reno is not unreasonable.

[silverkris 0]

The $590K valuation already considered their existing renovations inside. Dude.

Unless you are talking about spending $200K yourself, then might as well go for a flat with lower valuation (meaning min renovations done) and start the hacking process.

[Pinklady 0]

no person in the right frame of mind would buy the flat at this kinda price. if i got 780k on hand now, i rather buy clementi, tiong bahru, redhill, holland or jln bt merah or even marine parade right!

[charemme 0]

if have $780k on hand, can even buy condo liao....

but seriously will some bonkers actually buy it??

Then for that ads.. how come asking for 780K yet dont dare to publish pictures?

[bepgof 20]

if have $780k on hand, can even buy condo liao....

but seriously will some bonkers actually buy it??

Then for that ads.. how come asking for 780K yet dont dare to publish pictures?

Just to share among: I bought a resale 5rm pt-point,31 year old, 118sqm, in BN in Aug09, for $518K+$10K cov. Near to mkt/mrt etc. B4 this, have viewed abt 8 units (somewhere nearby)but not to my likes. I was the 1st viewer to this unit and deal closed within 10 minutes. Downpayment & OTP exercised on same day!

Bishan case, fool himself as well as others. Genius buyers sure do their home work. Another sharing: I managed to sell my 3-year old condo, 1270sqf for $850k, after almost 15~20 different viewers. Got offers @ $870k, $860K, $850k, etc. But why sold to this particular buyer?

[CJREDDEVIL 0]

no person in the right frame of mind would buy the flat at this kinda price. if i got 780k on hand now, i rather buy clementi, tiong bahru, redhill, holland or jln bt merah or even marine parade right!

Hi,

You are correct, even if so " sieow" & over-rich to buy at 780k, at least the valuation should be around 700~730k (80k for excellent reno) which is the actaul/current valuation at Queenstown/Redhil/Kim Tian/etc...

But definately not when val is only 590k and needs to fork-out 190k COV.....CRAZY !

I am quite convinced that the owner is testing the market for CRAZY-Buyers and the Agent himself is taking this apportunity to advertise his profession.

Cheers!

[CJREDDEVIL 0]

The $590K valuation already considered their existing renovations inside. Dude.

Unless you are talking about spending $200K yourself, then might as well go for a flat with lower valuation (meaning min renovations done) and start the hacking process.

Yes, I agree with you, silverkris.

Renovation conditions has already been considered in the valuation report. So it does not make sence to justify that 200k reno is reasonable as commented by [yoongf]....sorry! ( even if it has all those solid-gold fittings/etc....)

Cheers!

Edited October 23, 2009 by CJREDDEVIL

[Caireann 1]

Sounds like siow ting tong....

I think cheapest is Jurong.

for 700 over K you can already buy an 1800 sqf place at an older but nice condo. Lakeside Condo is quite nice.

[singababa 0]

maybe not 'siow' if u have the product that people so desired, its not wrong to sell at a high price. the market now is red hot i hope its will be red hot in the last quater of 2010 because there is a batch of 3, 4 and 5 rooms coming into the market at holland drive.

i will be one of the 'siow' people who is going for record breaking transaction for hdb.

wish all the people at holland drive luck. thank you.

Sounds like siow ting tong....

I think cheapest is Jurong.

for 700 over K you can already buy an 1800 sqf place at an older but nice condo. Lakeside Condo is quite nice.

[CJREDDEVIL 0]

maybe not 'siow' if u have the product that people so desired, its not wrong to sell at a high price. the market now is red hot i hope its will be red hot in the last quater of 2010 because there is a batch of 3, 4 and 5 rooms coming into the market at holland drive.

i will be one of the 'siow' people who is going for record breaking transaction for hdb.

wish all the people at holland drive luck. thank you.

Hi Singababa,

Great to hear that you are 1 of those "optimistic" looking forward to break the HDB-transaction record again.

( I would not dare/want to state as "sioew" ...)

Still, my personal opinion is that $190k COV is too much for a 120sqm at Bishan, but of course it's ok if I am the seller..hahahaa..

It is a norm that Seller always wants to Sell the HIGHEST price & Buyers wants tto Buy at the LOWEST price !

I presumed that you are the seller and not a buyer........nothing wrong about this...do update us if you manage to break the record.

Wish you good luck !

Cheers.

[singababa 0]

$653k for 4-room HDB flat

A FOUR-ROOM Queenstown HDB flat has sold for $653,000, setting a new record for price per sq ft (psf), amid continuing red-hot demand for resale flats.

The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.

But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.

The four-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, sold for $68,000 above valuation - a level determined by an independent valuer.

This works out to $674 psf, smashing the previous record of $609 psf, achieved in January last year, by about 10per cent.

This may be an unusually high price but resale prices have been moving up..

its happeining! its not a dream, its fast becoming a reality. one step closer. record are meant to be broken im on my way....

Hi Singababa,

Great to hear that you are 1 of those "optimistic" looking forward to break the HDB-transaction record again.

( I would not dare/want to state as "sioew" ...)

Still, my personal opinion is that $190k COV is too much for a 120sqm at Bishan, but of course it's ok if I am the seller..hahahaa..

It is a norm that Seller always wants to Sell the HIGHEST price & Buyers wants tto Buy at the LOWEST price !

I presumed that you are the seller and not a buyer........nothing wrong about this...do update us if you manage to break the record.

Wish you good luck !

Cheers.

Edited November 13, 2009 by singababa