Floridian: Update

Just got an update on the Floridian @ bukit timah and here are my thoughts.

A couple of stacks actually overlook the Good Class Bungalow (GCB) area in Bukit Timah, effectively removing the view that the Nexus currently enjoys. Somehow its a blessing to be behind this time! A long cascading pool runs through the estate and apparently one stack located at the end will enjoy the full view.

I always liked that area behind Bukit Timah Rd, it basically consists of really really huge houses and a nice large open field. Expect lots of greenery and a beautiful glow at night. If you are in the area, drive down Old Holland Road, and you might get what I mean. Now imagine that with a 10 storey view from the Floridian.

Price wise, I can't say that it is exactly a bargain, but it is merely following market prices from Cascadia's sale of an entire block earlier at ~$1500psf to a large investor (with mass discounts of course). Resale units of next door 10-year old Maplewoods was asking for $1350psf last time I checked, so this justifies the Floridian's pricing of ~$1680psf.

Floorplan wise, there are apparently large 4 rooms at 1800sf, rare in these days, as well as large 3+1 rooms. Oh, and for those MGS alumni, the school is just beside the condo.

Mr Brown Show: On Sunset Empire and Condo Projects

Here's quite a funny one from Mr Brown on Sunshine Empire. Theres a short mention on property towards the end, as he convinces prospective investors to buy into the scheme.

http://www.mrbrownshow.com/2007/11/27/the-mrbrown-show-of-schemes-and-plans/

F1 Grandstand Passes for only S$275?

Image Source: Official Singapore F1 website www.singaporegp.sg

Rumours abound that the grandstand prices are only going for S$275 for a 3 day pass...however these are not the prime seats. The hot ones will be the ones near the checkered flag (finish line) and pit stop area. I wouldn't be suprised if those cost $1500.

See you there.

Floridian Prices Leaked

Far East sure knows how to set the benchmark, $2000psf for Jardin and now the Floridian for an
estimated $1670psf upwards.

Floridian Details

Location: Bukit Timah, District 21
Tenure: Freehold
Units: 336, 10 storeys
Type: 2, 2+1, 3, 3+1, 4 & 4+1
Sizes: 840sf, 935sf, 1001sf, 1236sf, 1292sf, 1346sf, 1851sf, 2347sf

Floridian @ Bukit Timah Soft Launch! I Eat My Words!

Okay, big sorry to those people whom I led into believing that Floridian is holding out. Perhaps Far East Organization is finally using common sense and is launching the much awaited Floridian to sweep up the hungry mass market (Keep to the left along Bukit Timah Rd and there is a small slip road just after the white Cascadian showroom).

I always thought that Cascadia would launch before the Floridian, but this time its the later that will be doing the benchmarking.

Cheques are being collected already as I type...

Sunshine Empire State Tower: Scam Property?

images from: http://www.success-empire.com/EmpPropV.html

Okay, so I know most of you are above this. But when I get a well-suited up undergrad approaching me and telling me how I can make a 5 figure sum in a year and that their founder/mentor is better then Warren Buffet it just has to stop you in your tracks.

When I candidly told him I was into real-estate, this kid then told me that I won't be too unfamiliar with this Sunshine Empire thing as they were into property too. He flips out a plastic folder with impressive 3D images of a Sunshine Empire State Building. There were rendered images of other property projects such as a Villa and underwater hotel in Malaysia too! (Watch the video here which I found online!)

I then ask him what does he know about the property market and he pauses, then just dribbles and waffles into another whole bunch of unrelated bullshit. When he finally asks me to put some money in (around 12k me thinks) to get 300% returns in two years, I drop the bombshell on him: So what do you actually sell? He looked around and couldn't answer me.

If you know your kid is into this stuff, tell them to steer clear of this stuff. After reading up on them, it seems like this is a MLM about to go bust as they are now being investigated by CAD.

For casual readers, if these projects were as good as they sound, it would have been featured here already on super credible Property Leak (shamelesss trumpet!)

19/11/07 UPDATE from the Newpaper:

http://newpaper.asia1.com.sg/news/story/0,4136,148134,00.html?

When contacted, a receptionist at the Sunshine Empire office in Toa Payoh Hub said the properties were available to the public.However a receptionist who answered a call made to the Malaysian office of the Empire Property Venture International said the units of all the properties were only available to Sunshine merchants or members.

She said interested buyers had to go to the Sunshine Empire office in Singapore to sign up as a member before getting access to their merchant website to make the purchase of the properties online.She also said that more than 300units of Sunshine Villa have been sold, with the seaview units fully booked.When asked if there were any showflats available for viewing, the woman said there were none, but brochures were available online.She also said there were units available for a higher-end project in Kuala Lumpur called the Empire State Tower.

The brochure on the company's website describes this development to be 'the most prestigious residential address right in the heart of the Golden Triangle Business District of Kuala Lumpur'. This project which is supposed to be built on Jalan Tun Razak, purportedly has 290 units available for sale, with 147 units shown as 'sold' on the online price list. However, a check with the City Hall of Kuala Lumpur revealed that no such project is in the works at present.

A spokesman said: 'City Hall Kuala Lumpur has not received any application for a property to be developed at Jalan Tun Razak called the Empire State Tower.

Copyright, 2007, Singapore Press Holdings Limited

Sunshine-Empire's founder, James Phang, at an alleged Sunshine Empire conference. Image Source: www.Sunshine-Empire.com

Some News Articles:
http://newpaper.asia1.com.sg/news/story/0,4136,147782,00.html

http://www.straitstimes.com/Latest+News/Money/STIStory_174312.html

More videos here:
http://www.youtube.com/watch?v=5D9BFev_nkE (Newsclip on this scheme being investigated)

http://www.youtube.com/watch?v=bynwXnEwfCk (You got to catch this one, most amazing corporate video ever!)

http://www.youtube.com/watch?v=zAFyYlPOsuU (A lavish office on 7th floor of HDB Hub)
http://www.youtube.com/watch?v=x5Os5_tt-Xg

http://www.youtube.com/watch?v=HzO4Zcndhms (Another absolutely powerful but utterly meaningless corporate video not to be missed!)

Some Images of these 20 year olds and their BMWs.
http://profiles.friendster.com/user.php?uid=4009633

Some Online Discussions:

http://www.sgforums.com/?action=thread_display&thread_id=276414&page=37

http://forums.hardwarezone.com/showthread.php?t=1682264&page=112&pp=15

Jardin Officially Launches; Floridian, Cascadia Updates

Yeah the Jardin finally 'launched' with prices for the 3rd level lofts going for only $2000psf. Even areas such as Balmoral which is so much closer to town don't fetch that amount. Seriously what is Far East Organisation thinking? Just add $300-500psf above reasonable prices because you have built over 700 developments and received multiple awards no one bothers about?

I really feel bad for people who buy FEO's overpriced units...although they do have a couple of rare bargains.

Also, heard from some reliable sources that Cascadia and Floridian that is just across the road will be holding out for next year. Late 1st Q at least. Maybe by then prices would have gained momentum again and I will be forced to eat my rant above regarding Jardin.

Gahmen: No Capital Gains Tax

Finally found this newspaper cutting. Thought I threw it away earlier. Well this is pretty much a big relief for everyone now. Like I said: Capital Gains Tax is the nail in the coffin. So for the moment, all's clear!

Hillvista Prices Leaked

Only $1050psf to $1150psf for West Side Mass Market Living at Hillvista. Ugh.

Seriously what are the Fareast guys thinking? No one is going to pay those prices for something so deep in...but I have been wrong before!

Details:

• 2rm 915-1055sf (~1.21m)
  
• 2+1rm 990-1087sf (~1.25m)
  
• 3rm 1130sf-1238sf (~1.42m)
  
• 3+1rm 1184-1292sf (~1.48m)
  
• 4br 1292-1324sf (~1.52m)

FYI, $1.5m can get you a large, full seaview, high level unit along East Coast.

Dear Chukuma

Got this in my mailbox today, amongst a dozen daily offers from agents offering to sell my property. Quite amusing really...only 5% interest as long as I am not trying to rob him of funds! Nothing has been edited:

Dear Sir/Madam.,

I am Mr. Chukuma Doller, a certified loan lender that offers loan toindividuals,co-operate bodies who need loan for small scalebusinesses, personal investments, and also personal budgets.

As long asyou have a good profile and not trying to fraud or robbed us of funds.Loans are offered at a very cheap and moderate rates,

We arecertified, trusted worthy, eliable,efficientand dynamic. Hurry Up and get this Unique Opportunity now. We give outloan with a low interest rate of 5%. If interested Kindly Contact me via Email: chukuma_loan_company@yahoo.com

IF INTERESTED,YOU ARE TO FILL THE DATA INFORMATION AND RETURNFULL NAME:FULL CONTACT ADDRESS:OCCUPATION:POSITION:HOME PHONE NUMBER:CELL PHONE NUMVER:MARITAL STATUS:SEX:AGE:BANK NAME:TOTAL ANNUAL INCOME:AMOUNT NEEDED AS LOAN:LOAN DURATION:

Regarsd,Chukuma Doller

HillVista, Yet Another Mass Market Project

Watch out mass market, here comes another ultra overpriced project from Far East Organization! While details on this project is still sketchy, heres what I have found out about it:

Location: Hillview Ave
Units: 127
Price: $1050psf

Don't bother taking a look if you want a big 3-room. This is another Condo that features nothing above 1300 square feet of living space.

730k Madness Along East Coast

Life from a sucker's point of view. Source: The Straits Times

Now someone should really come up with a list of suckers who pay these record amounts for HDB flats.

While I understand how 'clever' it is to downgrade to a HDB and 'ride out the Property Bubble' after collecting your enbloc loot, paying an amount that no one else will ever again for the same flat defeats the purpose!

In honor of such suckers, I shall add a new blog tag - HDB Suckers.

Property Resource Review #1: HDB + Do it yourself

Okay, I submit to all your endless e-mail requests to share good online resources for property - in the form of mini-reviews as and when I find the time to do them.

Question:

Dear Realgossip, I was hoping to find online websites on how to sell my HDB flat without an agent. Can you recommend me some links? Rgds, Tan XX XXXXX Hougang

Reply:

Dear Tan,

Get an agent. HDB do-it-yourself is a no-no. I have seen my nephew's Option to Purchase for a HDB flat. It is 10 pages long (private is 3 max!) and I couldn't figure out half of it although I have seen private options of everykind.

If you insist on selling it on your own. I have seen only two resources.

www.hdb.gov.sg

Review: Straight forward, but little nitty gritties on where to get certain forms are not included and its all these little things that are most daunting. A definite must read for those who are doing it yourselves.

To find this page and understand all its resources, you have to dig through a giant pile of links which could have been just compiled on one page. Could have been better explained in layman's.

Ease of Use: **/*****
Helpfulness: ****/*****
Credibility: *****/*****

www.diyhdb.com



Review: Commercial and straightforward. Basically you do the marketing, viewing, negotiating (all the hard parts!) and they just tell you what to do - which is good, and bad. Because if anything screws up it's mostly yourself to blame.

This website also seems to be siphoning off every possible thing they can suck from you, from bankloans to just frikkin registering on the website. Aesthetics could have been more attractive and professional, looks like a 13 year old kid did it for them.

Ease of Use: ***/*****
Helpfulness: ****/*****
Credibility: **/*****