Appreciate your compliment. One thing I learn the hard way from the 3 years writing blog is that most readers like to ridicule honest analysis

What I have seen happened with family in 82' and 97' really a nightmare that I vow never to see it from my home.

Been in this industry since early 2000 and consider myself not lazy spending spare time to learn finance and economics. All I can tell is assets class opportunity is always moving from one to another from time to time. Real estate in Malaysia is near its end at least for mid term.

Thus, I sold most last year and urging close friends and family to realize profit first. I walk my talk. Always believe paper 'profit' is just a mirage. It is like masturbation, period.

I like ur analogy. Dont just masturbate (syok sendiri with paper gain). Must have intercourse (sell prop to realize gain)

yeah, real thing is the best.

So what is the current asking price for emerald?

Actually most of the agents told me to skip Emerald as it's a waste of time dy... Because owners has started to ask 950K - 1mil now since the last transaction..

The agents told me tat Qaseh is a better choice if u r going for 1 mil++ price tag.. Was supposed to view 1 of the cheapest unit last weekend, wic was going for 910K and suddenly the owner didn't wanted to sell the unit.. So looks like he wana join the party too..

Sapphire wic is slightly smaller by 1xx sqft is asking for 940K, if not mistaken the last few units available... so wouldn't be too surprised if asking is more than 950K on wards..

I have US colleagues and they personally told me that they will never buy any properties ever....especially the younger ones (about less than 35 years old)...they prefer to just rent a house their whole life...based on their experience during the 2007/2008 housing crisis...


this is actual comments from my own colleagues in US... i don't make this up...

http://www.bbc.co.uk/news/business-21826176#

For today's reading... still going up for China...

Maybe 970k was the peak. There seem to be plenty at iproperty asking much less.

Actually I called up most of the agents, its just their stupid trick to price it lower so tat potential customer calls them juz to be informed tat the asking price has been increased...

Yes, i got that a lot too. 1) that was 1 year old price. Now owner wanna sell higher 2) my staff put the price wrongly. Cannot be so cheap. Now market is at this price that i am telling u maa.

The agent has another method, they will tell you the unit was not available...but I have a more expensive unit. Are you u interested? anyhow there are some area, the price really drop.

That is an extreme, if understandable, reaction. It's probably because these younger ones ( age 30's ?) did not profit at all, or not much, from earlier property ownership before being caught in the 2007/8 financial meltdown, did'nt have enough buffer. Buying at market highs, their hard earned capital was probably wiped out. Their experience was therefore all bad. For this, blame the greedy lenders and investment bankers who helped create the property euphoria leading to the subprime crisis. It does'nt need to be that way.

In Malaysia, there is also a new generation of young property owners shaping up to be the local subprime aspirants. The triple 'B' promoters who believe property prices always rise long term, banks are forever friendly, interest rates perpetually low, economy always buoyant, civil unrest impossible. Let me just say that property values are largely a function of economic growth and social stability. If these two ingredients are missing, bang goes property prices among other things. Then triple 'B' can quickly be turned into single 'B' by banks. A new class of young bankrupts. Is it worth the risk at this late stage of the property cycle?

too much pent up demand..just like here buyers are looking at unit below 200K but developers not building that..so prices for low end will continue to rise

Indeed, very true.. Wasting our time...

mine still available, bigger and fully reno!!!

believe it or not... i know someone who actually just bought a landed property from an agent and according to that agent, the price quoted is based on the actual developer's price about 1-2 years ago...this landed property just obtained OC....

and comparing to other similar listing from other 'flippers', the selling price quoted by other owners or flippers is about RM180k more expensive...

weird eh...but for once, this agent actually sold this landed unit for about more or less the same price compared to 1-2 years ago...

Some readers have a self interested agenda, others are just flippant or too clever by half, while most will not believe what you write anyway. Notwithstanding you honestly shared your past experience and painstaking conclusions with no ulterior motives. That's human nature. If only one or two readers take note and save themselves from much future grief buying an overpriced property at the wrong time, one has done one's best.

Have a good day.

this scenario is not uncommon anymore.

some buyers for some projects can get up to 15% discount.

a fast smaller profit may be the priority rather than holding and pay interest.

Mind sharing the price tag and the location? Curios to noe y actually they decided to sell at developers price... But actually tat should be the case since developer always puts in "Future price" during launch.. nt add another few hundred K's on top of tat price tag..

This post has been edited by all blacks: Mar 19 2013, 10:47 AM

ok...the listing price by other owners, i think they simply quote the price...it is listed around RM840k...

but there's another unit sold by an agent for RM660k.... already paid RM5k deposit so i think the selling price can be considered confirmed...

Location is Teluk Kumbar area in Penang... double storey landed...