I am selling my own home at AMK! 5 Rm next to MRT Station.
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Dear fellow forumers,
I am selling my AMK HDB cos 5 years is up! Info is as below...
AMK Blk 596A 12th Floor. 5rm valuation on 24th April 09 at 590k. Asking 608k. Next to AMK MRT station. Converted to 2 bedrooms. 42.8k renovation. Agents are welcome to represent buyer!
See pics at -- http://www.flickr.com/photos/mrericlee/sets/72157616932910895/
Call or SMS me at 93622226 to view.
Thanks!
Eric Lee -
too bad today price drop like woots
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You have a very nice house.
Why are you selling?
Are you upgrading to a private condo?
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Is that cheap or expensive for a house like that? I'm not familliar with the housing market in SG, as I'm dutch.
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Originally posted by Glenn_nl:
Is that cheap or expensive for a house like that? I'm not familliar with the housing market in SG, as I'm dutch.
no housing is cheap in singapore!
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Originally posted by youyayu:
no housing is cheap in singapore!
that goes for citizens only? or is it the same price for residents and foreigners too?
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can i buy it for S$1 for me to study... ... ?
i urgentl;y need a good place to study, with airconditioning... so can u sell em @ S$1?
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Originally posted by Glenn_nl:
that goes for citizens only? or is it the same price for residents and foreigners too?
of cos same price -
Originally posted by mrlee9966:
Dear fellow forumers,
I am selling my AMK HDB cos 5 years is up! Info is as below...
AMK Blk 596A 12th Floor. 5rm valuation on 24th April 09 at 590k. Asking 608k. Next to AMK MRT station. Converted to 2 bedrooms. 42.8k renovation. Agents are welcome to represent buyer!
See pics at -- http://www.flickr.com/photos/mrericlee/sets/72157616932910895/
Call or SMS me at 93622226 to view.
Thanks!
Eric Lee18k above valuation? You dun seem to know the market very well.
Renovation is seldom a consideration when it comes to valuation as your flat is rather new and thus most probably most flats in the area would not differ too much from yours when it comes to renovation since they are all bought around the same time. 40k for renovation for a 5 room flat is quite common and given the fact that you converted 3 bedrooms into 2 bedrooms you most probably got a pretty good deal out of it.
From last year Apr 2008 till now, there are only 4 HDB flats sold at Ang Mo kio Street 52(Basically where you are staying). The last transacted pricing was 588k in Feb 2009. Very much like yours it is also a high floor unit. Valuation for flats in your area was higher at the point in time. Thus it is obvious that the unit was most probably sold below or at valuation.
Most of the lease for the flats in the area starts in 2002-2003 as they are relatively new flats. Thus you are going to have a lot of competitors looking to sell their flats at the same time.
Frankly, this is going to be a very hard deal to close. And what more you are refusing agents help to market your house. Good luck to you.
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Originally posted by Glenn_nl:
that goes for citizens only? or is it the same price for residents and foreigners too?
Foreigners are not allow to buy HDB housing. But Permanent residents are.
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To TS, kep this house of yours, u can rent out 1 room to the FT who come here to work. AMK is a good area. I suggest u rent out and earn $$$ first before u sell the house.1 year rent can bring u a lot of $$$
And when u sell yr house, in current times, the target market segment is important. Probably some rich ang moh will be interested or some other locals who are well to do. Try to advertise to this group... Try the expats forums and advertise there.
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Originally posted by Worldlybusinessman:
To TS, kep this house of yours, u can rent out 1 room to the FT who come here to work. AMK is a good area. I suggest u rent out and earn $$$ first before u sell the house.1 year rent can bring u a lot of $$$
And when u sell yr house, in current times, the target market segment is important. Probably some rich ang moh will be interested or some other locals who are well to do. Try to advertise to this group... Try the expats forums and advertise there.
It's gonna be competitive as well. Common rooms in AMK goes for as high as SGD 700 per month. But the problem is, nobody is renting at this pricing. Owners are refusing to lower their pricing and buyers/tenants are refusing to increase their budget. But the latter makes sense since they should most probably go rent a room in a condo with such pricing. I just rented out a master bedroom in an orchard for $600. So why should the tenant be paying for prices like that? Owners got to be more realistic.
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U have a nice house.
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Originally posted by Callan:
It's gonna be competitive as well. Common rooms in AMK goes for as high as SGD 700 per month. But the problem is, nobody is renting at this pricing. Owners are refusing to lower their pricing and buyers/tenants are refusing to increase their budget. But the latter makes sense since they should most probably go rent a room in a condo with such pricing. I just rented out a master bedroom in an orchard for $600. So why should the tenant be paying for prices like that? Owners got to be more realistic.
it is the reason why u have to be sensible when it comes to business.
ANK is pretty developed area. I suggest TS lower the rental and give the other baggers a run for their money.
Frankly now is a bad time to sell. But this house is pretty good and it will fetch a good price when the economy recovers. This house will fetch good rental too..
I suggest to TS , rent the home first and make some $$$ until the economy recovers.
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I suggest TS becareful with agents, they only want to earn commission and dont listen to their advice, if uhave to get 2nd opinion from others. In singapore agents of any kind are lucrative sh^t.
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HDB
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Originally posted by Worldlybusinessman:
I suggest TS becareful with agents, they only want to earn commission and dont listen to their advice, if uhave to get 2nd opinion from others. In singapore agents of any kind are lucrative sh^t.
psst....I'm an agent leh...
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many years ago, those who bought 5 rm flat and kept it are indeed clever, because now becuase of the influx of FT, rental market will go up. at least a 5 rm can rent out.
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Originally posted by Callan:
psst....I'm an agent leh...
u r suspicious . u may be one.
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Originally posted by Worldlybusinessman:
u r suspicious . u may be one.
he is 1..
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If one is planning to sell later, renting may not necessary be a good thing.
If the leasee is the irresponsible type causing physical demage the flat, more so if the flat is expensively renovated, the value of the flat can be depreciated. -
The house decor is nice.
However, given the tough property market now, you might get a lot of people who wants a "look-see" at your property but might not be willing to buy it. You will need to offer below valuation to entice buyers.
As it is, property prices for HDB resale are starting to trend downwards. They need to play catch up (or down) to the private condo prices which have been steadily falling for the past few months. I am not surprised if people will be looking to buy at 10-20% discount.
People (agents, property developers) may not say it outright, but most are bracing themselves for further drops in prices. Given the current glut of excess properties which will be more evident in the next few quarters, prices will likely have to fall to even more attractive prices to get buyers in.
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In such times it is better to rent it. I said earlier, Such a house i had before, jus the decor is not nice as this one. But it was a huge 5rm executive apartment. I regret selling it...
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but we sold it during the 1996 boom. surprisingly it fetched 500K + in 1996..
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fact: TS want to sell it for some reason.