I followed up with viewings of similar one-bedders in the same condo. A low-floor unit was selling at $390,000 while another high-floor unit was asking for $420,000. I called a few banks to ask for the valuation. Since it was a high floor unit, the value was around $450,000. The last transactions of similar units on high floor units were between $420,000 to $520,000. … [Read more...]
Story of my second property – a bank sale (part I)
I wrote about "The story of buying my first property (part I, II & III)" in January. Sorry it takes so long before I post the story of my second purchase. With the positive rental return from my 1st property, very soon I had enough savings to buy my second one. In between I kept looking for good buys, again with the following criteria: 1) Good location and layout; … [Read more...]
En bloc the Singapore way (part III)
With property buyers standing on the sideline, here comes more activities on en bloc. Some deals are closed. Some owners want to try their luck. More are doing their research on the en bloc topic. 1) Selling your home en bloc Ask yourself the following questions: Do you plan to upgrade or downgrade after the en bloc? Can you afford a similar or better unit in the same … [Read more...]
En bloc the Singapore way (part II)
Another en bloc experience of mine happened at almost the same time as the 1st one. By coincidence, it was the 2nd property I acquired. Don’t get me wrong. I am not interested to buy properties because of their en bloc potential. (Over the years, I had seen units in 10 to 20 developments which had gone en bloc successfully. But I didn’t buy!) When I first started, … [Read more...]
En bloc the Singapore way (part I)
Laguna Park is going for en bloc again after an unsuccessful attempt in 2009. It reminds me of the residents in two of my properties in the east also tried to go en bloc during the same period. It all started in mid-2007 when the market was at the hype of an en bloc fever. Over a few months, everyone --- including the management office, the neighbors and the property … [Read more...]