How Do You Decide Your Cov Price...

[edlis70 0]

3 yrs back, 10K COV is already considered high. Now COV can go up to 100k in good location, but i wander who will buy. Good luck to the seller.

[dragonnite 2]

I saw many units in AMK these past few months, prices should be close to those at YCK.

1. blk 432/433, 3rd floor, original condition - asking for ard $30k

2. blk 324/322/343 (opp. amk hub), ard 10/11 floor, original condition - ~$35k and upwards

3. blk 506/507, ard 10/11 floor, original condition - $~20k (cos is a divorse case, want 2 sell fast), but shld b ard $30-35k normally

All units are within 1 bus stop range (5-7 min walk) to AMK train station. No units were available in the YCK area at the point when I was looking so too bad.

If you asked me, if you are going to pay comparable COV, I would rather pick AMK instead of YCK. More units are available in AMK compared to YCK, especially since there are very few Chinese who are selling in YCK. My agent told me the quota for Chinese already filled in YCK so if you're Chinese like me, this is a major consideration.

If you want to get a more accurate gauge, just use the ST classifieds in Saturday's papers, call them up one by one and check the COV. That's what I did.

Legwork is required !

Edited August 8, 2012 by dragonnite

[crystalhuang 0]

its ok lah.. only 16 flats. i have view over 100 when i was looking for condo to buy. then gave up cos view so many and non suitable.

so keep on looking and don't give up. the right one will come along!

wawww 100!!!

now I realize, I haven't seen enough hahhahhaha ... yes yes, the right one will come along, shall not give up!!!

3 yrs back, 10K COV is already considered high. Now COV can go up to 100k in good location, but i wander who will buy. Good luck to the seller.

yea… currently some COV is just super ridiculous.

There was one time, my husband saw an ad on Saturday paper.. he called up the agent, and end up we went to view the unit in the afternoon. Located somewhere near the ICA, I know it's central area, but.. the unit was like about 15-20minutes walking distance from the Lavender MRT.

ok, it was high floor but 'very' original condition. the building is almost 40 years old. There was another family viewing, and we asked the seller's agent about the price. he said, "one offered 50K COV earlier, and another one had just offered 80K COV!!!" I meant, how could it be?? I just found it very silly to follow such price.. even the agent was trembling when he mentioned the 80K..

Actually it's not gonna be easy to sell a house if you don't be realistic.

[dragonnite 2]

wawww 100!!!

now I realize, I haven't seen enough hahhahhaha ... yes yes, the right one will come along, shall not give up!!!

yea… currently some COV is just super ridiculous.

There was one time, my husband saw an ad on Saturday paper.. he called up the agent, and end up we went to view the unit in the afternoon. Located somewhere near the ICA, I know it's central area, but.. the unit was like about 15-20minutes walking distance from the Lavender MRT.

ok, it was high floor but 'very' original condition. the building is almost 40 years old. There was another family viewing, and we asked the seller's agent about the price. he said, "one offered 50K COV earlier, and another one had just offered 80K COV!!!" I meant, how could it be?? I just found it very silly to follow such price.. even the agent was trembling when he mentioned the 80K..

Actually it's not gonna be easy to sell a house if you don't be realistic.

Be careful, some of these seller's agents just anyhow quote a COV number to inflate the price. Just trying their luck to see if they can sell it higher. I've encountered this before - I simply tell that agent "Ok, no need to see liow." and prepare to leave, see if they back down. If they waffle and then say, "Oh, just go and see lah, never mind one ...", then you know it's a bluff.

One of my previous agents told me before - as a buyer, I can get away with that but they (as a fellow agent), cannot.

[blueriverview 0]

I support your view..."if its yours...its yours".

no point forcing through. Stand by your principle on what you are prepared to pay.

and...never trust the agents...you have to assess the situation youself.

anything above 40k COV are very rare nowadays unless its a super unit. Only agents will dare to continue peddling such lies about 80k COV. Tell these people to wake up and they have to try harder at lying.

[May_dream1 14]

wawww 100!!!

now I realize, I haven't seen enough hahhahhaha ... yes yes, the right one will come along, shall not give up!!!

yup, i took abt 3 months to view 100 units so you can continue. hehehehe....

i been to a few in hougang (last month), asking for above 60k and one of them sold within that weekend.

[yuy 0]

I support your view..."if its yours...its yours".

no point forcing through. Stand by your principle on what you are prepared to pay.

and...never trust the agents...you have to assess the situation youself.

anything above 40k COV are very rare nowadays unless its a super unit. Only agents will dare to continue peddling such lies about 80k COV. Tell these people to wake up and they have to try harder at lying.

HDB said that the latest average COV is around $25k, but I dun see such listing be it 3/4/5 rooms flat.

I wonder how realistic is this figure.

[blueriverview 0]

HDB said that the latest average COV is around $25k, but I dun see such listing be it 3/4/5 rooms flat.

I wonder how realistic is this figure.

i guess HDB can't fake those numbers...now to really question HDB valuation not reflecting real market conditions...there should not be a need for COV if their valuation is accurate.

[yuy 0]

i guess HDB can't fake those numbers...now to really question HDB valuation not reflecting real market conditions...there should not be a need for COV if their valuation is accurate.

cos demand is very much more than supply, even if HDB keep increasing their valuation, COV will still remain high

[Velarine 0]

If we are buyers, we of course hope that can buy a unit at low COV or even zero COV heehee right?

On the other hand, if we are sellers, we of course hope to sell at higher COV especially if you have invested more than $30k for your renovation, paid for a COV when you purchase the house and the house is still in a good move-in condition.

I think it also depends on the location and the supply and demand for that location. Location like Tiong Bahru, Redhill, Clementi housing with higher COV, 30k-60k is not surprising amount at all.

Generally, Marsilings, Woodlands, Teck Whye area housing are cheaper with lower COV ranging 10k-20k.

[Velarine 0]

My neighbour sold her 3rm flat at top floor for $40k COV! Her asking COV was $48K. Hmm, I wonder any forummers here ever pay above $40k COV for their house??

[therat 18]

My neighbour sold her 3rm flat at top floor for $40k COV! Her asking COV was $48K. Hmm, I wonder any forummers here ever pay above $40k COV for their house??

me lor

4rm mid floor $44k

I love the location and the wind. North-south facing. No blocking. lift upgrade done. Neigbour good. Some recognize our face. Auto press out lift level when we step in the lift.

$44k well spent.

[rickoveron 0]

40k COV not ridiculously high lah....

[MrsLoo 1]

Haha, the speculation of COV must all thanks to that one person. As a seller of course I demand high COV, who don't want money right? When I'm selling my 4A flat, 0.33km away from MRT, agent also keep telling me that COV only 35K max and when I saw so many people asking 50K - 80K COV and their location is not as good as mine, I 'die die' also won't reduce my COV but of course realistic. Then, when I'm buying 3A flat, the seller 'die die' also want 40K COV, and the beauty is 3room COV is even higher than 4room flat.

In ideal world, COV should not even consider as selling price, the transacted price has indirect telling sellers that you can sell 500K for a 4room flat though the valuation is only 450K. Monkeys see monkey do.

[MrsLoo 1]

My neighbour sold her 3rm flat at top floor for $40k COV! Her asking COV was $48K. Hmm, I wonder any forummers here ever pay above $40k COV for their house??

I paid 38K COV for my 3A flat.