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paul

Cov Dropping

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COV around Hougang is still sky high... encountered a few asking for 70K onwards :(

new changes surrounding valuation is baffling me as it follows market price?

Check out who the owners are . If they are PRs they are probably selling to get back some of the COV they had given so that they can take back home a lump sum of money. These people are returning to their own country.

Edited by fats
 

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'COV' system WAS basically a 'by product' created by gov.

- Sellers got COV cash not subject to taxation(stamp duty), the higher the merrier, fly like buttleflies.

- Buyers cry father and mother, claiming high COV.....crawl like catepillars.

- Agents of both sides? Patterns liao liao. Fighting in the garden

- Gov? feels John Marsden is right (dead of night),

'We kill all the catepillars, then complain there are no butterflies'

I'm the gardener!.

- Valuation companies ? Eat 'grass' soon liao.

Edited by bepgof
 
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I understand from my agent that the govt is trying to prevent resale price from dropping too fast because the current situation is that buyer see valuation will automatically ask to reduce the amount and then the next round of valuation will reflect this drop but buyer will still ask for cut and it goes on..

so if take away COV, buyer will have to discuss on the actual price itself...instead of straight away discount..

 

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I understand from my agent that the govt is trying to prevent resale price from dropping too fast because the current situation is that buyer see valuation will automatically ask to reduce the amount and then the next round of valuation will reflect this drop but buyer will still ask for cut and it goes on..

so if take away COV, buyer will have to discuss on the actual price itself...instead of straight away discount..

Edited by gemini
 

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Sacking, so serious? Any benefit to price changes? Seller/buyer? Gov? :angry2:



Facts indicated that gov applied 'light dosage of medicine' slowly over past years, only after GE when heavier dosage were adopted. Notably, one of the measures including tightening the 'water tap' for inflow and widening 'water tap' for outflow of FTs. Why went through all these 'troubles'.



Curb speculation? :no: To win 'voters' is the key. :good:


Be mindful that 80% of population in HDB, any sudden price up or down (1st hand or 2nd hand markets), make only gov headache (vote is powerful! :deal: )


Cooling measures influence money supply (financial mkts) and related industries (eg, construction, heavy equipment rental, stock mkt), and other end-consumption patterns/outlets. There are no 'one-size-fit-all' solution! .......



Valuation is always 'artificial' - just like present's global interest rates are 'artificially' suppressed low by switching on printing machines by various countries. It is also like financial 'credit rating' system - the credit rating agent 'suddenly' start working overnight! by what? Putting credit rate of certain financial institutions/products from 'AAA' to 'CCC' class! Just within one night!



Artificial stuffs are 'meaningless' - understanding what drive these meaningless stuff are important.


Edited by bepgof
 

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always believe that location is the most important - with good location your home price should be quite defensive as both an asset and an investment.. i.e. in good times can sell for capital appreciation while in bad times can still rent out for decent rental yield..

 

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