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buyer's market?

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  1. #1

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    buyer's market?

    had an offer after about 2-3 weeks of advertising.

    is 10% off too much? I guess I was thinking in hundreds of thousands - not percentages

    asking roughly 4 mil

    they offered around 3.6

    they wont budge!

    wondering whether to sit tight?
    '
    anyone got some tealeavers? I'd settle for a crystal ball tho!


  2. #2

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    how much did you buy?
    are you fine with the $ you make out of it?


  3. #3

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    Quote Originally Posted by scrambler:
    had an offer after about 2-3 weeks of advertising.

    is 10% off too much? I guess I was thinking in hundreds of thousands - not percentages

    asking roughly 4 mil

    they offered around 3.6

    they wont budge!

    wondering whether to sit tight?
    '
    anyone got some tealeavers? I'd settle for a crystal ball tho!
    check centraline or midland for monthly trends, see if it's going down, i noted that whamphoa first time in a decade, not one single property sold

  4. #4

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    Counteroffer with 3.8. They won't be able to resist the lucky numbers.


  5. #5

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    Original Post Deleted
    I feel those valuation tools are bogus. We've valued our property on there out of interest a few times and checked the prices at the neighbourhood real estate agency. Real life prices have always been less than the bank valuations.

    Only thing I can think of is - HSBC etc have a vested interest in driving the prices up. There is no transparency on how they're linked with actual transactions.

    Better to check transaction records (comps) at the various agency websites than to rely on banks.
    MandM! likes this.

  6. #6

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    Original Post Deleted
    That does not work with Village Houses. Only residential buildings.
    The only way to get the Valuation will be to call the banks. Village Houses are usually undervalued btw.

  7. #7

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    Quote Originally Posted by shri:
    I feel those valuation tools are bogus. We've valued our property on there out of interest a few times and checked the prices at the neighbourhood real estate agency. Real life prices have always been less than the bank valuations.

    Only thing I can think of is - HSBC etc have a vested interest in driving the prices up. There is no transparency on how they're linked with actual transactions.

    Better to check transaction records (comps) at the various agency websites than to rely on banks.
    I bought (and sold) properties in HK and they were within the valuation from HSBC.

    Of course checking transaction recods is a good way (but harder for village houses)

  8. #8

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    Quote Originally Posted by Claire ex-ax:
    Counteroffer with 3.8. They won't be able to resist the lucky numbers.

    tried that! and i am happy with that number! unfortunately they havent moved say its all they can afford..

    looking around I dont see anything this cheap in the area,

    they claim there is a one nearby - but its 600 not 700sq ft.. asking price is 3.6 they say.

    2 weeks then an offer is fast ?

    estate agent seems to think 3.7

    these buyer are direct contact..

    as for how much we make? well enough - but more is better - since I want to relocate UK or NZ..

  9. #9
    Quote Originally Posted by shri:
    I feel those valuation tools are bogus. We've valued our property on there out of interest a few times and checked the prices at the neighbourhood real estate agency. Real life prices have always been less than the bank valuations.

    Only thing I can think of is - HSBC etc have a vested interest in driving the prices up. There is no transparency on how they're linked with actual transactions.

    Better to check transaction records (comps) at the various agency websites than to rely on banks.

    I've noticed the opposite. The bank valuations tend to be lower than actual recent transactions and offers available at agents. At least in Mid Levels area.

  10. #10

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    If you have intentions on selling, sell right now at $3.6. The US Federal Reserve meet next week on Dec 15th/16th and there is an 80% probability that they will raise interest rates for the first time since June 2006. It will be a shock if they DONT raise rates. This will have an immediate and direct impact on Hong Kong. Interest rates will go up here by the same % on Dec 17th. This will have a much greater effect on HK property prices than any of the stupid foreigner taxes, stamp duty, and other measures the HK government have been doing over the last 6 years. HK property prices will take a steep dive and you will be begging to get $3.6 from Dec 17th.

    The above is my opinion and you would be an idiot to sell just because some stranger on the internet told you to. But I do believe the above. I actually hope I am wrong since I own property here and my interest is seeing it rise and rise forever. However all signs are pointing the other way now. I would sell to if I didn't need somewhere to sleep.

    WMDS likes this.

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