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Monday, August 30, 2010

Invest in Singapore: Career as a Mortgage Consultant

Invest in Singapore: Career as a Mortgage Consultant
Article contributed by: www.PropertyBUYER.com.sg

Attention to all honest property agents out there. If you are financially inclined or if you are an ex-banker, you are welcome to send your resume for our selection.

With the new property agency ruling, those who has are currently employed may not want to continue to be property agents. You can consider a career as Mortgage Consultant.

At Property Buyer Mortgage Consultants, we want people with the right attitudes.

Are you driven? Do you want to make a lot of money?

If the answer is YES, we DON’T WANT YOU!!!

Our Beliefs - Property Buyer Mortgage Consultants


Why Integrity?



At Property Buyer Mortgage Consultants, we want to make money too, and lots of it. But we do not start off thinking about money. We believe that money and income is a consequence of providing a good and honest service.

Integrity also means, we do not engage in illegal legal fee kick-back.

Integrity means, we cannot favour one bank versus another. Some times one bank may give a slightly benefit than the others, we cannot deliberately steer the customer to such banks.

Integrity means that if you become Property Buyer Mortgage Consultants, you cannot engage in private deals and you cannot ask customers for additional fees for doing a job or use whatever means to extort or coerce for such fees.

Do Note that, such behaviour will mean termination and Property Buyer reserves the right to sue you to the maximum amount and extent permissible under the law.

Always uphold the customer’s interest even if it may mean that we lose a deal. We know that it is painful, but we promise you, the rewards are enormous if we can set ourselves apart from all the dishonesty in the market place.

Why Passion?



If you are looking for a lot of money as a start-off point, you will find that there is a cost for observing our Integrity rules. That means that there may be many hungry months.

Such hungry months may mean that many will turn to cheating and deceit to achieve their monetary goals. If you do not have some financial resources and enough passion, you will stray. Therefore Passion to serve and do RIGHT and be the beacon in this industry is the principles we want all of you to have.

With passion, you can last long.

If you think this does not make sense, read no further. We don’t want you in our team.

Why Empathy?



Empathy is important in a service business. We would call it the “in-your-shoe” thinking. Property Buyer Mortgage Consultants cannot assume that they know best. You may have financial knowledge and some of you may have an MBA and a CFP, but that does not mean you know the customer’s own circumstances and situation.

There will be times when customer seems undecided between choices which to you may seem like a straight forward decision, what do you do during these stage?

This is the discovery stage at the customer’s end. They are pondering between the many choices and weighing it with their own career considerations, lifestyle choices, cash flow as well as many other permutations.

It is extremely important to try to see it from their point of view. Be patient and sympathetic to their dilemma. Listen and give them an un-biased view of the various options. Do NOT jump in with what you think is best. Do NOT recommend packages, but instead provide the PROS and CONS of each home loan package for their consideration.

Let the customer discover themselves what packages fits their own needs. This is important so that we do not have any decision blind-sight. This is very important, never assume that you know best!


Why Knowledge?



Www.PropertyBUYER.com.sg mortgage consultants must be financially well read and be in touch with the latest statistics and trends in the market. Most often, a customer do not want to simply compare rates, they want someone to guide them through the Property Buying process to avoid being cheated by Dishonest Singapore Property Agents or sometimes they want someone to guide them to help them to negotiate a fair value for their property.

Customers need someone knowledgeable to guide them through the process of property buying, of refinancing and to intelligently discuss the possible financial implication of each.

As Property Buyer Singapore Mortgage Consultants, we are a Research Focused company, we do not make unsubstantiated statements about the market.

We cannot and should not comment on market sentiments. For example someone says Casinos are built, the properties will increase in value. What do you respond? How do you respond?

You must have the wisdom to research the facts to justify or debunk the statement. Else keep your comments to yourself. Because we are seen as experts in the field, if you cannot say something that makes sense and that is factually correct, then do not say anything.

If what you say has some assumptions, then do also make sure to qualify your statement with the assumptions.

Why Income?



After carrying out a professional job, of course you will be rewarded. And you will find that it will be highly rewarding after you had done a good job. Income is a consequence of all the above. There is no easy money, we are not afraid to say it. We keep to our motto and acting on it and it has paid off.

Integrity, Passion, Empathy and Knowledge is good business. You can cheat a customer once or twice and earn good money, but you will not have repeat customers and not have many valuable referrals.

So by “DOING THE RIGHT THINGS, RIGHT” you will have plenty of income. And let’s face it, the customer will always remember the person, not the company. If you are professional and carry out the 4 values of Property Buyer Mortgage Consultants you will gradually gain a following of customers who trust you with your judgement and who trust that you will take care of their interests. You will have endless streams of business.

Every one customer you serve, you should uphold the 4 principles of Integrity, Passion, Empathy and Knowledge and with that, each customer will tell 10 others how well you have done.

At Property Buyer Mortgage Consultants, we believe in an honest day’s work, as a result, you must NOT give rebate out of your commission to anybody. This practice is NOT acceptable to us and you will be terminated if you do so. An honest day’s work (often several weeks of work), deserves to be paid a salary.

Why become a Property Buyer Mortgage Consultant?

As a person grows in his/her career, age catches up, retrenchments become common. Sometimes jobs are replaced outright with new processes or machines. A mortgage consultant’s career rises with the number of years in the business as more and more customers who have been served professionally grow with the mortgage consultant and refer ever more business.

Will Mortgage Consultant grow rich? Yes, the answer is yes. The more knowledge and contacts accumulated, the more potential income.

About Property Buyer Contact Property Buyer
www.PropertyBUYER.com.sg
We are a Research-focused Singapore Mortgage Consultant which helps you compare Singapore Home loans either for new home loans or Singapore Mortgage refinance home loans, we balance risks versus rewards for each home loan to match your risk profile and financing needs.
Call us if you fit the description.
Not Simply Cheap, but what Fits. We Research, You Save!
Tel: 6100 - 0608
SMS: 9782 - 8606
Email: Career@PropertyBUYER.com.sg

Monday, August 9, 2010

Singapore's Macro Economy

Singapore's Macro Economy

Singapore economy is coming from a low base since the recession but still showed high GDP growth. The real strength of the economy is still uncertain. The GDP of Singapore would be pretty much the same. However, the increasing expatriates and immigrants needing housing, schools, food, services, etc, their massive immigration, has been affecting the growth of the overall nominal GDP values.

The condition implies that we would be expecting a slow rate ascent of the real property prices towards the end of 2010. However, the risks of the property buyers will continue to increase. A property buyer planning to purchase a property still needs to make a good decision based on research and other information.

A Singapore property investor looking for real estate property to invest should wait a few more years to experience a market flooded with properties developed by the government of Singapore. The government has been trying to develop properties in relation to their present massive land sales program. There is no speculation of a market crash since the Singapore government could always resort to bring in more foreigners to boost demand for housing, which will support high land prices.

Friday, August 6, 2010

Invest in singapore property: Risks involved in market swings

Invest in Singapore property: Risks involved in market swings

The high-end properties as well as the mid to high-end properties risks largely depends on the demonstrated price volatility during market swings. The Singapore mass market condominiums are presently facing the challenge of a market affordability risks. With the present elevated market price levels, a new benchmark for prices could be formed provided the employment figures remain stable. The new prices could hold up for awhile depending on the employment factors. The HDB supports the condition of the mass market condominium. The HDB is the basis for mass market condominium pricing. The HDB is currently experiencing shortage of supply.

Availability of housing loan services

The only limitation that an individual may face is the availability of housing loan services that ignores cash down payment or owner’s cash equity part. Normally, housing loans require owner’s cash equity. The owner’s cash equity will serve as the down payment for the purchase of the property. The fact that the savings and cash holdings are not homogeneous across all income groups of the country, it would be impractical and misleading to use the national savings as a guide. To simplify the analysis, the cash down payment funding portion is ignored in the following computation.

Sample computation using condominiums such as Shenton Way
• 76 Shenton – between $1,900 - $2,400 psf.
• The Sail @ Marina Bay - between $2,000 - $3,300 psf
• International Plaza - $1,100 range
• Icon - $1,600 - $1,700 psf
• Some parts of China town, Tiong bahru, etc….
• Leonie Hill, Leonie Studio - $1,500 to $1,900
• Grange residences - $2,500 to $2,800 psf
• Ardmore park - $3,000 - $3,600 psf
• Balmoral - $1,500 - $1, 800 psf
• Cyan Bukit timah (New development) - $1,800 - $2,400 psf
• Aspen heights - $1,400 - $1,600 psf
• Rivergate - $1,600 to $1,900 psf
• 5th Avenue Condominium - $1,200 to $1,400 psf

Singapore BANKS CREDIT stance

Banks have generally been more careful in managing their loan portfolios, investments, and loan or credit facility offers. Banks such as Citibank that were greatly affected during the worldwide recession or sub-prime crisis are aggressively introducing the credit facility package Sibor with trend showing about + 0.5% ascending to 0.9% in June 2010. HSBC responded with the competition and started to campaign aggressively for their credit facilities. The Bank of East Asia eventually entered offering consumers the residential housing loan packages. This time, the banks learn to lend more freely and aggressively to regular households.

Thursday, August 5, 2010

Mass Market versus High End Market Condominiums in Singapore

Mass Market versus High End Market Condominiums in Singapore
By Shirley Tan of www.singaporehomeloan.net

Expensive amenities such as the port access, private lift lobbies, golf clubs, infinity pools, and private lift lobbies could add to the value of the high-end property. Super high ceilings, security services, and near to expatriates’ schools are the common services offered by high-end properties targeting the foreign investors. Expatriates would be more attracted and comfortable if the residential rights and special immigration policies are not too strict. This will also contribute to the demand for high-end properties on a certain country. The highest, tallest, most luxurious, and other superlatives attributes place these high-end properties as one of the best places to live worldwide.


An increase of the high-end properties prices singapore would also influence and create an increase for the properties below the high-end properties. This trend may greatly affect all other related sectors of the country. If the high-end market price increases were highly selective, then maybe it would not affect the whole country. This situation may result to a widening gap of the mass market and the high-end luxury market prices. The mass market and the high-end market properties have totally different attributes and offered amenities. The offered attributes and amenities contributed to the big difference of their prevailing market prices.


An increase of the high-end properties prices would also influence and create an increase for the properties below the high-end properties. This trend may greatly affect all other related sectors of the country. If the high-end market price increases were highly selective, then maybe it would not affect the whole country. This situation may result to a widening gap of the mass market and the high-end luxury market prices. The mass market and the high-end market properties have totally different attributes and offered amenities. The offered attributes and amenities contributed to the big difference of their prevailing market prices.


The properties belonging to the category of the mass market are more affordable and a bit cheaper than those properties belonging to the high-end market. Mass market properties could create more demand because of its affordability. It also highly supports the general income conditions. The high-end market cannot be as flexible as the mass market in terms of pricing because it has its own set of characteristics and high-end services that the properties in the mass market do not have (Source: Singapore Ministry of Manpower, aggregated from Central Provident Fund board). Mass market could easily create a demand than the high-end market.

Tuesday, August 3, 2010

MRT and condo price fluctuation

MRT and condo price fluctuation
Article contributed by: Property Buyer Singapore Home Loan Consultants

Singapore is Digging everywhere in building MRT stations

Property Buyer Singapore Home loan consultants investigates the effects of MRT on Singapore property prices.

There are a total of 78 stations in operation (As at today) and many more being built. (Wikipedia).

How many properties are located within 1km radius of MRT? And 2km of MRTs?

How will property prices go up or down?

Is having the MRT convenient? Do you feel convenient or it is really convenient?

Is there readily too much availability of private condominiums claiming to be near MRT?

Before you get excited about being close to MRT, have you thought of the Over-crowding in MRT trains?

Will distance away from city centre be no longer important?

Will prices rise because of a MRT station or prices rise because of sub-urban developments?



Estimation of how many properties are within 1km of MRTs

SMRT stands for Singapore Mass Rapid Transit. A public train system.

According to Wikipedia, there are 78 MRT stations in Singapore. Based on a 1km radius coverage, the area is Pi x Radius x Radius.

3.1416 x 1km x 1km= 3.14 sq km

Based on 78 MRTs, area coverage = 78 x 3.14 sq km = 245 sq km.

Singapore's total size is 710.3sq km.(Singstat, http://www.singstat.gov.sg/stats/keyind.html)

Go to google map and open up a Singapore map, you will easily see that in the heart of Singapore is the Mac-Ritchie and Pierce reservoir water catchment area and there are other areas reserved for military use. There is a scale on the bottom left of the screen. You can roughly calculate that the size of those non populated areas may be around 100sq km in total.



WHAT IS THE SIZE OF SINGAPORE'S ACCESSIBLE AREAS?

So Singapore’s accessible areas are 710.3 – 50 – 50 = 610.3 square kilometres.


So 78 MRT stations will cover 245 sq km out of 610.3sq km. If we assume that all accessible areas are populated evenly, the 78 MRT stations already cover 40.14% of the accessible land area in Singapore.

In other words , if we draw a 1km area around each MRT station, we will end up with those areas covering 40.14% of singapore's usable land.


There are many properties across singapore, it would be easy to assume that properties are spread out fairly evening throughout the Singapore geography.

If we make the above statement, therefore roughly 40.14% of all properties in Singapore are within 1km of an MRT station.



How many number of units of Private housing is 40.14%?

Wow, that is a lot of properties that are near to an MRT station.



So there are some 250,334 (URA Q2, 2010) units of Condominium and apartments property units and many hundreds thousands of HDB flats.



40.14% of that is some > 100,494 of choices of private property on the market that is potentially near to MRT stations.

Technically you have some 100,000 units of private property to choose from. Even if these properties are not put up for sale all at once. Each year, there would be a turn-over of 3 to 6% which amounts to 3,000 to 6,000 of buy and sell activities on these private properties.




DOES STAYING NEAR TO MRT REALLY MEAN SO MUCH?




Let’s look at the travelling time and the number of train one must get off and get back on in order to get from one place to the other.




Is distance to your place of work no longer important if you have MRT near your home?

Is distance to your children’s school no longer important if you have MRT?

It's worth not to get carried away by MRT. The overall lifestyle needs and distances from all your lifestyle needs are important too.




MRT needs to maximize share holder return - Over-Crowding is the least of their worry



So many far away places are now covered by MRT. Does it mean that it is more valuation property? Yes to an extent, but that still does not address the distance issue.

Sentiments?



What are the effects of MRT on prices of Singapore properties?



If people start to realise that being near to a MRT station is no magic pill and neither is it a paradise, they will not bid as much.




For those properties which are far away from town, being near to an MRT will command a good premium, while those farther away will have likely lesser value.




For those properties which are near to city centres or near town, being near to MRT should have a smaller premium as access becomes more varied and not singularly dependent on the MRT.




To Summarise The Effects of MRT on Properties

For Far away locations

Near to MRT means easy access. Alternative modes of access not great.

Not near to amenities

Not near to working place

Not near to business centres

Not near to schools, etc.



So perhaps access to MRT gives a greater premium compared to those in the same area without MRT within easy reach.



For Central and Prime locations

Access to amenities – Good

Near to many places

Near to shopping areas

Near to schools

Near to business centres

Modes of transport varied and plentiful (such as Bus, train, taxis, etc) and distances near.

Such locations do not significantly (perhaps should not) be affected by whether there is MRT or not.





Will Premiums shrink for those properties near to MRT?



The premiums one pays to properties which are near to MRTs will shrink over-time. Singapore Property Buyer may need to focus on your own lifestyle core needs, rather than what is good to have in order not to overpay.

Those very far locations touting MRT as a feature should generally not be valued higher than those that are nearer to city centres or with good locations (but without MRT) except when there is HYPE. (people who buy into Hype may lose out)

At some stage developers want you to think that distances doesn't matter as long as there are MRTs. Now If you will only imagine how you will squeeze with all the people on the super crowded and not very regular frequency MRT train . Getting to town is no mean feat, then the choice will always be LOCATION and smooth connectivity as a priority, be it railway, MRT, bus, boat, car or whatever transport.

Contact Property Buyer Mortgage Consultants for your Home Loans and Refinance needs at sms / text 9782 8606.