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: **/*****

Property Leak Super Safe Sound Advice #2

Source: The Business Times

Doesn't take alot to read a chart, but I added a little graphic demonstration for the benefit of those who can read but can't understand.

Property Chartopia

Was looking through a Merrill Lynch report that my friend shared with me, and thought some of the above charts and notes might dissapoint you folks who thought that prices might crash overnight due to the URA announcement on DPS.

Economy is roaring, F1 is coming, a new racetrack is being built (to the dissapointment of some environmentalists lol) and with two 4 billion dollar Integrated Resorts - this DPS game isn't going to put a dent in prices.

So it looks like until the government re-introduces of Capital Gains Tax, the only way to go is up!

Flippers Get the Shaft

Anti-Flippers, Wear Your Tag Proudly in Forums!

The almighty Government has just given Property Flippers the shaft! Deferred Payment schemes for NEW Condos will no longer be available - which to me is actually bloody good news.

Deferred Payment to me has always been a No-No mainly because:

• It generally encourages property bubbles. Flippers with no plan to see the project through to its completion might default, and if widespread might 'crash' the project as the developer has no cash


• If you get your bank loan later, the bank might not 'value' your property equal to its purchase price and you have to fork out alot of cash (also known as 'You Are Screwed')


• I always believe in REAL capital appreciation thank you

I am glad it has come to this. Now real investors and homeseekers who have the power to go for progressive payment schemes will get to play a more even field.

Oh, and I can't find a scrap of this announcement on URA's website even after all the yakking on the radio which is absolutely ridiculous.

Update 28th Oct: The URA website has been edited to include:

On 26 Oct 2007, the Government withdrew the deferred payment scheme, i.e. applications from developers to offer deferred payment scheme for new housing projects will not be approved. However, developers who have already obtained the Controller’s approval to offer a deferred payment scheme may continue to offer it to purchasers after 26 Oct 2007. Purchasers are advised to check with the developers on the payment scheme being offered.

This means that current launches that still have DPS can still go ahead with DPS!

Mass Market Alert: Esta Ruby

Yet another project for you Mass Market folks, the Esta Ruby will be launching on the 27th of October or so it claims from a flyer I received as seen above.

If you don't mind Geylang being your backyard, the cookie-cutter condo Esta Ruby is a pretty decent gastronomical tradeoff; though I'm not sure about it being 'A Priceless Discovery to Call Home'

Earplugs In Shortage, Panic Fills the Streets.

Official Unofficial Image Taken Off http://www.formula1.com/news/headlines/2007/10/7040.html

Quote: "Formula One racing’s governing body, the FIA, has confirmed the 2008 Singapore Grand Prix will take place at night as planned. The inaugural Singapore event, to be held on a new street circuit in the Asian city, is scheduled to take place on September 28. ".

Property Leak's Super Safe Sound Advice #1: Buy Options for Earplugs, Ear Mufflers. Flip in September '08.

The Sky Has Fallen! Jardin Launches!

The Jardin has FINALLY FRICKIN launched after more then half a year's 'launching this weekend'. For the past few weeks I've been noticing workmen adding the final touchups to the showflat while on my way home and I guess that adds up.

But for $1950psf upwards, thats surely a mighty blow to any pocket - though it will mean good news to Maplewoods, and the super undervalued Blossomvale (which has an amazing view of Bukit Timah Hill).

Heard that the showroom is mighty impressive and personally would like to drop by.