Properties prices

[Vicz]

the current property market is weird.... seller selling at the price they want. buyer wants to buy seller's price minus x. bank says seller's price minus x is still higher than valuation so bank only lend buyer's price minus x minus y. end up buyer not willing to buy... it goes round and round end up no one moves.

 

how would the market turn around like that?? all die together at the end off the day! there's a long long road in the gloomy weather and no light seen at the end of the tunnel.

[Modykoh]

In today context, it is better to obtain a Banker/loan approval prior first .

 

This(behaviour) will persist for a while till the market find it balance. (seller can not hold or buyer can not wait)

[Eurocar]

if buyers can wait, sellers will have to lower their selling price unwillingly to match the bank's valuation so as to sell their property. ie if sellers have no holding power.

 

once an enough number of such cases happen, definitely property prices across will go down.

[Ultramega]

  On 3/14/2009 at 1:41 PM, Eurocar said:

if buyers can wait, sellers will have to lower their selling price unwillingly to match the bank's valuation so as to sell their property. ie if sellers have no holding power.

 

once an enough number of such cases happen, definitely property prices across will go down.

 

This is going to happen soon. Especially those speculators who bought when prices are high with deferred payment financing. When the deferrment ends, that's it for them.

[Modykoh]

if the buyer had already own a property, bank will consider the 2nd loan for the appt is as investment..the loan amount is max at 70%.

for tt property is the 1st property, then they willing to loan 80%.

 

for bank to loan, they will assess the property details/doc (eg valuation reprot, status of e property, GFA) u need to obtian these and submit to the bank, it take 1-2 week..

recently i do see that the bank is landing out $$ liao ley..

 

 

[Darth_mel]

  On 3/14/2009 at 4:01 PM, Ultramega said:

This is going to happen soon. Especially those speculators who bought when prices are high with deferred payment financing. When the deferrment ends, that's it for them.

 

Would be nice to see how greed unveil itself.