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How to determine if curre t conidtion is buyers or seller market?

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Old 02-08-2020, 09:32 AM   #1
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How to determine if curre t conidtion is buyers or seller market?

When I want to buy property, they told me its seller markets now, cannot offer too low. Then when I want to sell property, they say its buyers market now, cannot put list price too high. Knn, all is they say one...

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Old 02-08-2020, 09:38 AM   #2
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When I want to buy property, they told me its seller markets now, cannot offer too low. Then when I want to sell property, they say its buyers market now, cannot put list price too high. Knn, all is they say one...

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2003-2005 is buyer’s market. (SARs, high interest rate)
2006-2007 is seller’s market. (Massive enbloc)
2008-2009 is buyer’s market (financial crisis)
2010-2013 is seller’s market. (Market starts to peak again)
2014-2016 is buyer’s market (CM with absd and TDSR)
2017-2018 is seller’s market before CM (Massive enbloc)
2018-2020 is everyone’s market. Depends who is more desperate.
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Old 02-08-2020, 09:40 AM   #3
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When I want to buy property, they told me its seller markets now, cannot offer too low. Then when I want to sell property, they say its buyers market now, cannot put list price too high. Knn, all is they say one...

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just do your own research and offer what you think is reasonable...no need to listen to agents...most of them knowledge is also limited...
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Old 02-08-2020, 09:44 AM   #4
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2003-2005 is buyer’s market. (SARs, high interest rate)
2007 is seller’s market. (Massive enbloc)
2008-2009 is buyer’s market (financial crisis)
2010-2013 is seller’s market. (Market starts to peak again)
2014-2016 is buyer’s market (CM with absd and TDSR)
2017-2018 is seller’s market before CM (Massive enbloc)
2018-2020 is everyone’s market. Depends who is more desperate.
Thanks for the detailed. Interesting to see everyone's market. If normal factor, it should be down right buyers market now. I guess our property market work on strange setting.

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Old 02-08-2020, 09:44 AM   #5
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just do your own research and offer what you think is reasonable...no need to listen to agents...most of them knowledge is also limited...
Ya lor. Worst part is, it so difficult to DIY unless u got wiling to spend lots of time to Do the transaction yourself right.

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Old 02-08-2020, 10:05 AM   #6
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Ya lor. Worst part is, it so difficult to DIY unless u got wiling to spend lots of time to Do the transaction yourself right.

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just be realistic in what you can expect from your agent....nobody will care about your property purchase more than yourself....i dont mean agents are bad...its just if you do your own homework there wouldn't be much that the agent can add on...i havent met any agent who are so good and knowledgeable...i guess they are busy serving high network clients..hahaa
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Old 02-08-2020, 12:47 PM   #7
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used the last transacted price a gauge.
if still cannot decide, use median price then

https://www.srx.com.sg/ask-home-prof/research
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Old 03-08-2020, 09:23 AM   #8
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When I want to buy property, they told me its seller markets now, cannot offer too low. Then when I want to sell property, they say its buyers market now, cannot put list price too high. Knn, all is they say one...

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well, you have to see the market condition also, not to say we agent suka-suka say wan..

this current market,it benefits buyer more as in many sellers are more willing to be realistic about their selling price.. do you agree ?

so your agent's pricing and marketing strategy is very important, u ask too high, your house becomes a 'showflat' for buyers to look see and helping your neighbours to sell their unit oni.. you ask too low, you felt 'cheated' ..

sellers perspective-want to sell high high
buyers perspective - want to buy low low

so agent's job is to match the right buyer to the right unit.. not as simple as wat everyone thinks..
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Old 03-08-2020, 09:26 AM   #9
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just be realistic in what you can expect from your agent....nobody will care about your property purchase more than yourself....i dont mean agents are bad...its just if you do your own homework there wouldn't be much that the agent can add on...i havent met any agent who are so good and knowledgeable...i guess they are busy serving high network clients..hahaa
sorry to hear about your bad experience with property agents, there are many agents in the market now, and most probably those that you met are 'newbies' ? yes, I agree that you also need to do some homework and not totally depends on the agent.. as in, we agent also need seller/buyer's cooperation in making the deal a smooth one..
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Old 03-08-2020, 11:03 AM   #10
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sorry to hear about your bad experience with property agents, there are many agents in the market now, and most probably those that you met are 'newbies' ? yes, I agree that you also need to do some homework and not totally depends on the agent.. as in, we agent also need seller/buyer's cooperation in making the deal a smooth one..

Property buying and selling is big venture... 99% of the information and trends from the agents, are that what they wish for ... But thats useless for u ... So do your own research and challenge them ....
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Old 03-08-2020, 12:30 PM   #11
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Property buying and selling is big venture... 99% of the information and trends from the agents, are that what they wish for ... But thats useless for u ... So do your own research and challenge them ....
yes, agree totally, property is probably the biggest ticketed item that you are dealing with.. so proper due diligence research is needed.. dun say challenge la, so fierce..
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Old 03-08-2020, 12:47 PM   #12
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sorry to hear about your bad experience with property agents, there are many agents in the market now, and most probably those that you met are 'newbies' ? yes, I agree that you also need to do some homework and not totally depends on the agent.. as in, we agent also need seller/buyer's cooperation in making the deal a smooth one..
dont have bad experience la...just agents have their own biases as well about what is good or no good...and end of day they need to close the deal to get the commission....i agree buyer/seller and agent must work together...so need to find an agent you are comfortable with.....after all agents see many houses so they better sense about the market conditions...the more experienced/good ones will be able to give some good perspectives...

i went to see some houses recently...and some sellers are delusional...asking price far above record psf for their development....and their units not even good ones...e.g., not well maintained, no good facing, etc....i would be stunned if anybody pay them anywhere near their asking...and i hear bull*** like they got xxx offer...xxx offer which is like highest in recent transacted prices...i just want to laugh lor...they would be a fool not to accept if really got such offer...and i view their house just to see the layout lor...

but then there are also reasonable sellers la....reasonable asking price...and owner even chat with you and be upfront about condition of the house....the plus/minus points....such units will move very fast....and i would define them as serious sellers...
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Old 03-08-2020, 02:19 PM   #13
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I just bought a property and I offer my price based on two criteria, what is the recent market price which can be easily found through your agent or even online through URA etc and whether it fits into my budget. If the market price fits into my budget, then its the right purchase for me.

To me, if the asking price is higher than market price, even if it fits into my budget, why should I buy it? Unless you really love it for some reason or desperate for it for some reason, there will always be properties available somewhere else.

Or if the market price if higher than my budget, then it does not matter whether its buyer or seller market, I am not going to buy it.

At the end, buy something that you are able to pay for over a period of time even if you stop having a source of income for a sustained period.

Unless of course you are damn rich and no need to take loan
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