Galantspeedz Turbocharged November 25, 2008 Share November 25, 2008 (edited) For those interested in buying a property, pls get an updated valuation from the bank before you buy. Call yourself if possible. Valuation has dropped alot alot alot. Possibility of this drop may be due to the unwillingness to lend. Edited November 25, 2008 by Galantspeedz ↡ Advertisement Link to post Share on other sites More sharing options...
Snowbell Neutral Newbie November 25, 2008 Share November 25, 2008 Not really the unwillingness to lend but becoz demand has declined & property prices have gone down. The valuation report provided by the Bank should be the market rate. 2 cents' worth. Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged November 25, 2008 Author Share November 25, 2008 i am sure declining demands plays as much a part as the unwillingness to lend which contributes to the declining demand......... Its is a contribution of several factors. My 2 cents worth Link to post Share on other sites More sharing options...
Crispicrispi Neutral Newbie November 25, 2008 Share November 25, 2008 Demand, supply, bank rate, approval, reckon these are all inter-connected. Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged November 25, 2008 Author Share November 25, 2008 and also 1 other very important variable. Market sentiment Link to post Share on other sites More sharing options...
Mage Clutched November 25, 2008 Share November 25, 2008 ok, yes Sir Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged November 25, 2008 Author Share November 25, 2008 so that means you eyeing new property? Link to post Share on other sites More sharing options...
Scenic98 Clutched November 25, 2008 Share November 25, 2008 For those interested in buying a property, pls get an updated valuation from the bank before you buy. Call yourself if possible. Valuation has dropped alot alot alot. Possibility of this drop may be due to the unwillingness to lend. except valuation for HDB flats? Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged November 25, 2008 Author Share November 25, 2008 HDB i duno leh.... maybe not yet..... Link to post Share on other sites More sharing options...
Crispicrispi Neutral Newbie November 25, 2008 Share November 25, 2008 For private, valuation dropped but even so, no bank loan equals to no transaction. No transaction results in low transaction vol, so low valuation also no use. And this time round, it could go even lower. 20-30% of hdb buyer could not obtain loan, does that mean hdb valuer should adjust accordingly to market sentiment, low resale supply n demand? Link to post Share on other sites More sharing options...
Crispicrispi Neutral Newbie November 25, 2008 Share November 25, 2008 HDB valuation can't go to bank to ask for it leh... Must apply to hdb and they send their appointed valuer. Link to post Share on other sites More sharing options...
Scenic98 Clutched November 25, 2008 Share November 25, 2008 that's precisely my point. super conflict of interest...HDB valuation must go to valuer that's on HDB approved list. No longer independent assessment. Hence, our gahment has the perfect tool to support the property sector or at least ensure the property mkt will not crash. Link to post Share on other sites More sharing options...
Crispicrispi Neutral Newbie November 25, 2008 Share November 25, 2008 Worst, they don't let the buyer choose the valuer, they appoint their own valuer. I want to be the shareholder of the hdb valuers! Don't know leh hdb pty I think for the past year when the pte pty is downhill, still very strong? Link to post Share on other sites More sharing options...
Scenic98 Clutched November 25, 2008 Share November 25, 2008 HDB keep the value of their flats high, influx of PRs come in, see price is right for them, they happily buy. Existing 80% of Singaporeans staying at HDB happy becos their asset still worth some money or happy can sell at high price and get into deeper debt by "upgrading" to condo. ---> pappies can maintain their 66.6%. then pappies come out and say they can prevent a similar sub-prime situation from happening here because of the measures stated abv. and they built those flats at a loss. ---> they deserve their multi-million salary albiet kenna cut by a bit these days. Link to post Share on other sites More sharing options...
Crispicrispi Neutral Newbie November 25, 2008 Share November 25, 2008 God knows. Link to post Share on other sites More sharing options...
Crispicrispi Neutral Newbie November 25, 2008 Share November 25, 2008 I know I am bad. Link to post Share on other sites More sharing options...
Versionv Neutral Newbie November 25, 2008 Share November 25, 2008 no loan = no demand!!!...isn't it same as what happened to the recent car market ... most sporean are relying on loan to get days pass.....we are heading towards the same trouble as what american are facing now..... so when will be our turn to face sub-prime housing loan crisis..... Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged November 25, 2008 Author Share November 25, 2008 HDB valuation can't go to bank to ask for it leh... Must apply to hdb and they send their appointed valuer. Is it? so cheem ar? ↡ Advertisement Link to post Share on other sites More sharing options...
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