lethal combi that is ............... optimistic sellers AND clueless buyers 
minolta, are these studio's or what?

Hi,

I need SIFU advice for may case.

I just paid 2% deposit for Condo in Desa ParkCity, it cost RM480K. When I apply loan most banks value my property only worth RM400K. OMG! It almost cause my heart attack.

I have called & checked around other agents and units for sale on this condo, all price above RM500K. I asked agent why this happen, they told me is usual for Desa ParkCity, valuer just cannot cope with the increasing value in Desa ParkCity and their based on 1 - 2 years transacted data, is this true? As I looking for 90% loan, it maybe big trouble for me.

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Added on May 12, 2009, 3:16 pmAnd now estate agent introduced banker Cxxx for me, he initial got value of RM450K, a day later was able to matched my value. My concern are:

1) Is this property overprice?
2) If bank offer me Letter of Offer for this price, but when valuer actual value show less, mean I have to pay the diff. as I looking for 90% loan?
3) Why other banks value so much diff. with Cxxx bank's valuer?

lethal combi that is ............... optimistic sellers AND clueless buyers 
minolta, are these studio's or what?

hmmmm...personally, i prefer the design of the semi-d better. it kinda appeals to me but dats pretty subjective la as diff ppl have diff opinions 

Thanks for the reply.  

Actually, as mentioned in my previous post, the Semi-D's build up area is smaller than the terrace corner and cheaper by about 20k...

Ok guys... These two are the photos for the houses i've mentioned.  So, which one would you choose to buy?

haha, yep...noticed ur post but am frm kl so i'm pretty unsure on the demographics of property investing in miri, hence have refrained from making any possible comments that might sway ur decision. anyway, u've gotta ask urself this q - do ppl around miri prefer a hse with bigger built-up or they prefer the prestige attached with a semi-d instead of a terrace hse, although its a corner?

by answering that question (and putting aside ur personal preference of design), i guess u would have the answer...if ur sole aim is to purchase for investment purposes and not for staying there

People here are he same as anywhere else in this country. of course they prefer the prestige.. For eg. if u tell someone u want to buy a terrace corner for nearly half a million, they would tell you are you out of your mind. On the other hand if you tell them u are buying a semi-d for 460k, they would say its a good deal. (Bear in mind the normal going for properties about 10-15mins from town are around 500k-650k normal range..although they are slightly bigger than this particular unit)

Again, thanks for the advice..

first one ... for sure .. i hate sharing porches with people ... got small space? go to ikea upper bunk with a working area below .. kids love it

ewarehouse,

1. absolutely YES.
2. YES.
3. Diff valuers have a sligh diff in valuation methods.

Have always thought DPC is highly speculative and you just confirmed that

Ewarehouse,

even if the valuation holds at 480K, please do not be suprised if the bank cuts the margin from 90% to say, 80%.

Has your banker committed to 90% MOF?

true true ... but i like my terminology better hehehe ... getting f***ed in the ass is a two way thing .. u need an ass f***er and an ass

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Added on May 12, 2009, 9:14 pm

well valuers can always cope with higher prices ...

1. valuers base their verbal indications on completed transactions from 6 months ago
2. most agents have only a starfish system which collects data of selling prices from newspaper classified and derive their values from selling prices and not transacted prices
3.being a previous citibanker, citibank has always been more laxed on property values .. also adding notions of reno will boost values high .. i don't know about now ..
3.try banks like hsbc .. they have been know to be strict on their valuations
4.add 15%-20% on valuation given by bankers ...
5.hearsay is naysay .. show the facts ..

Hi SIFUs,

I have booked Kemuning Utama Indah Residence 2 recently. It will be completed at mid 2011. I am taking the 5/95 package which charges no interest and no downpayment for the first 2 years (when under construction).  I am buying it for investment purpose and plan to sell it after a few years.

It is a double storey free hold linked house priced at 365k, Built up is 2100 sqr ft.

Would like to ask for some advice or comment:

1) I personally like the the place and think it is a strategic and the price is reasonable. What is you view? Is that price reasonable for the location (Kota Kemuning) or is it speculative?

2) How do you see the demand of properties in Kemuning Utama few years down the road? say, within 5 years?

3) Indah Elite of Kemuning Utama which was launched 2 years ago was only priced at around 280k. It is now completed and the subsale price goes up to 350k now. and the new launch (Indah Residence 2) is selling at 365k and above. Is this appreciation rate reasonable and will it be a bubble that will stopped inflating / start to burst few year down the road?
Thanks !

I would say you can get much cheaper house in Subang...but depends on you anyway..

3) Indah Elite of Kemuning Utama which was launched 2 years ago was only priced at around 280k. It is now completed and the subsale price goes up to 350k now. and the new launch (Indah Residence 2) is selling at 365k and above. Is this appreciation rate reasonable and will it be a bubble that will stopped inflating / start to burst few year down the road?
Thanks !

Paramount "earning" too much, losing to the market and Paramount afforded to provide "freebie" to the new IR2 owners such as 50% discount MOT (i heard Paramount adsorb all even...) and zero interest during construction and low down payment... so for the "bubble" u mentioned, it caused by the price of raw material...