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**Tw1anJOO** · 05-30-2010, 09:25 AM

around the western suburbs here, there are houses that have been stucked in the market for ages and these are asking for $700k+. i saw the RP data, owners bought way too expensive and unable to service the loans and had to sell off.

This is a monkey-see monkey-do scenario.. Ppl buy houses without considering the "location" and its growth for the next decades.. You only pay a premium if you confirm the value for the said site will grow in the next decades..

I paid a 50k premium for a dilapidated hse in a 1/4 acre land (within 8km) in 2009, now I am sitting at > 500k gain and I have pumped in about $25k improvement works only.. Later this year, I will invest another 50k for landscaping, 2m high brick fence and a privacy auto swing gate. My Italian design wrought iron 3.5m gate will arrive from GuangZhou in 2 months time for installation.. Yahoo !

05-30-2010, 09:25 AM	#7
Tw1anJOO Join Date Oct 2005 Posts 404 Senior Member	around the western suburbs here, there are houses that have been stucked in the market for ages and these are asking for $700k+. i saw the RP data, owners bought way too expensive and unable to service the loans and had to sell off. This is a monkey-see monkey-do scenario.. Ppl buy houses without considering the "location" and its growth for the next decades.. You only pay a premium if you confirm the value for the said site will grow in the next decades.. I paid a 50k premium for a dilapidated hse in a 1/4 acre land (within 8km) in 2009, now I am sitting at > 500k gain and I have pumped in about $25k improvement works only.. Later this year, I will invest another 50k for landscaping, 2m high brick fence and a privacy auto swing gate. My Italian design wrought iron 3.5m gate will arrive from GuangZhou in 2 months time for installation.. Yahoo !
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