08 MAY 2023
HDB FLAT ELIGIBILITY - H.F.E
https://www.facebook.com/AgentSoulEra/videos/3426741780907770
As HDB moves to make the buying journey a smoother one, we as agents will also be able to serve you clients better in more effective ways!
Hoping for more initiatives and implementations from the government stat boards that makes us go hoorah!
Keep the queries coming in.
I am but just a text away!
Sallehin Halim
Agent Soul ERA
8298 1175
"Service from the Heart and Soul"
#TOTTwithAgentSoul
04 MAY 2023
COOLING MEASURES - 27 APRIL 2023
https://www.facebook.com/AgentSoulEra/videos/779663186948736
Mortgage Planning and all things related to mortgage repayments are one of the most common reasons why some home owners had to reluctantly sell off their property/properties.
Putting aside cash outlays like COV or for bank loan downpayments, how do buyers choose between bank loans or HDB loans when purchasing a HDB flat?
CPF funds are known to be utilised by most, if not all, Singaporeans and PRs when it comes to buying a residential property.
But how many really know how much CPF funds you can reserve in your account? And how can you safeguard your mortgage repayments and stretch your CPF funds longer, in case you need to prepare your household for rainy weather?
Watch on and always feel free to DM me your mortgage worries.
Plan your selling and your buying wisely.
Sallehin Halim
Agent Soul ERA
82981175
Budget 2023 announced a few changes in the Property Market.
Which of the changes truly affect the Residential Property Market.
Who smiles after?
And who frowns after?
If you are a first timer buyer purchasing a HDB Resale Flat, struggling to balance out between the 80% HDB Loan LTV announced late 2022 and the ever growing prices of flat prices, you can ease off your mind a little now.
But if you are intending for a purchase of a residential property above the $1.5million mark, it's time to relook through the finances again.
Food for thought, with all the rising taxes and mortgage loan interest hikes, is it still worthwhile to purchase private property now?
Look through the Property Price Index and you will have your answer.
Otherwise, Agent Soul will always be a call or a text away!
Sallehin Halim
Agent Soul Era
8298 1175
"Service from the Heart and Soul"
20 FEBRUARY 2023
DETERMINING CASH PROCEEDS FROM SALES OF PROPERTY
Many have been sending in similar queries such as this:
"Agent Soul, if I sell this year or I sell next year, there won't be any difference, right? If the market stays the same, the cash that I will get out of the sale will still be the same, right?"
Now, let's debunk this misconception.
Even a seller who does not have any outstanding loan, will not be paying any more monthly mortgage. Thus, both outstanding loan and CPF capital refunds will remain the same throughout. But are we forgetting the 2.6% accrued interest per annum? Yes, you will get this back after the sale too if it is not going to be a negative sale. But will you prefer to get this back in Cash or CPF Funds?
And for a seller who still has outstanding mortgage loans, how much does each of your monthly repayments really deduct from the outstanding loan?
So, watch on and find out how Loan Amortisation works!
Sallehin Halim,
Agent Soul ERA
Service from the Heart and Soul
📞82981175
09 JANUARY 2023
SIGNS YOUR PROPERTY HAS UNREALISED POTENTIAL GAINS
In the current robust property market, we've heard a lot of record-breaking sales and come across news of homeowners making a profit from selling their house.
As a homeowner, it's also time to consider whether you can sell your house at a high price and make a profit.
These signs of unrealised potential gains are obvious enough that you should start considering getting a property health check:
What are potentially your gains?
What can you upgrade to?
What are the numbers you can cash out?
Always remember neighbours selling at the exact same price are always cashing out different amounts.
A property healthcheck will also divulge how much cash you can bank.
If you want to:-
Move to a bigger space for a growing family,
Move closer to parents or children,
Move closer to workplace or children's school(s),
Move to a smaller space for retirement,
Cash out for rainy days,
Or just have a change of residential environment,
Call me now for your
Free Detailed Doorstep Consultation!
Sallehin Halim
Agent Soul
82981175
Service From the Heart and Soul
07 OCTOBER 2022
PROPERTY COOLING MEASURES - 1ST OCTOBER 2022
https://www.facebook.com/AgentSoulEra/videos/1546853932441506
This episode of Talk Of The Town
1st October 2022 Cooling Measures
Joint press release by MAS-MND-HDB
What new regulations have been implemented by the Government Authorities?
Who are affected?
And how will these measures affect the overall property market?
Wondering if this will affect your ongoing plans in purchasing or selling a property?
Talk to me now
Sallehin Halim
Agent Soul ERA
8298 1175
26 SEPTEMBER 2022
THE ABCs OF FINANCIAL PLANNING FOR FLAT PURCHASE
Did You Know?
A property purchase is the biggest ticket item in most typical Singaporeans' life, if not all.
And a huge huge chunk of Singaporeans end up with purchasing HDB for their first home.
HDB purchases has to be handled intricately as they involve so many regulations, frameworks and criterias to fulfill.
Factors such as loans, grants, eligibility and many more that could be mentioned here.
One wrong step and you can end up in a property pitfall, either you feel it now, or in the future ahead.
So to put it simply, here are your easy to digest ABCs of property purchase. But, don't get me wrong, I do not encourage DIY buying.
For greater clarity or more in depth consultation, do ring me up for coffee sometime.
Sallehin Halim
Agent Soul ERA
8298 1175
21 AUGUST 2022
THE SKY EDEN - CONDOMINIUM LAUNCH
The transformation of Bedok Point mall, Sky Eden@Bedok, will be an upcoming 158 residential development ranging from 2 bedroom to 4 bedroom with 12 commercial units on the ground floor.
The development is strategically located within mins walk from Bedok MRT and Bus Interchange, connecting the dots to good food, green nodes and wide array of daily convenience.It is well connected to green nodes with 8-min cycle to East Coast Park via the Play Corridor, and less than 15-min cycle to Bedok Reservoir. It is also surrounded by wide choices of schools from primary to tertiary education, within 1km to Red Swastika and Yu Neng Primary School.
Under URA's master plan to revitalize the East Coast, Sky Eden reaps the same added conveniences and amenities that the upscale Bayshore Precinct enjoys.
I personally grew up in the well-matured Bedok district and can confidently say, the amenities and travel networks are very friendly to those who just don't have much time to waste!
Call me now to discover this GEM!
Agent Soul ERA
📞 82981175
27 July 2022
SELL HIGH, BUY HIGH - WHAT'S THE POINT?
https://www.facebook.com/AgentSoulEra/videos/722073648871385
Sell High Buy High
What's the point???
As Property Agents, we get asked this question a lot!
What I can tell you this, there is no 1 answer that can encompass all the varying types of situations or all types of sellers and buyers.
There are however, in general, a few types of situations where families can benefit during a "High" market. And for these profiles, there is nothing much to contemplate anymore!
Side Note:- The launch of AMO Residence is a bright indication of the existence of financial opportunities in this current market climate. 98% sold in one weekend!
27 July 2022
PRIVATE RESIDENTIAL PROPERTY MARKET
Second Quarter Private Residential Property Market Price Index.
2397 new units and 4414 resale units sold in Q2 2022 alone!
RCR selling price going strong, OCR & CCR rental yield powering on!
27 July 2022
HDB RESALE PROPERTY MARKET
Second Quarter HDB Resale Property Market Price Index.
Performing 12% better in 2022, year-on-year against 2021. Steady price index growth incline.
Government working hard on increasing BTO numbers, additional of 14,000 units by end 2022.
Will waiting to sell your HDB in 2023 be better price-wise?
Personally, I wouldn't wait to find out.
27 July 2022
SELL HIGH, BUY HIGH - WHAT'S THE POINT?
https://www.facebook.com/AgentSoulEra/videos/722073648871385
Sell High Buy High - What's the point???
As Property Agents, we get asked this question a lot!
What I can tell you this, there is no 1 answer that can encompass all the varying types of situations or all types of sellers and buyers.
There are however, in general, a few types of situations where families can benefit during a "High" market. And for these profiles, there is nothing much to contemplate anymore!
Side Note:- The launch of AMO Residence is a bright indication of the existence of financial opportunities in this current market climate. 98% sold in one weekend!
06 July 2022
NEWS FLASH! IMPENDING HIKE OF MORTGAGE RATES!
https://www.facebook.com/AgentSoulEra/videos/5876152822413704
Following up on previous News Flash 2 weeks back on the impending hike of mortgage rates, I wouldn't want to be going around saying I told you so.
But instead, let us look together how the property market will move forward from here on.
and earn your HEDGE AGAINST INFLATION!
Agent Soul ERA
Sallehin Halim
📞 8298 1175
27 June 2022
ARE YOU A FIRST TIME BUYER?
https://www.facebook.com/AgentSoulEra/videos/723802288831852
It was announced on 26th June 2022 that 40% of applicants invited to book BTO flats ended up declining the offer. Opting not to complete the purchase when they had the chance to.
This means more will be flogging towards Resale units, more or less, due to time urgency.
But will going for resale cost them more? In different households, Housing Grants are given differently.
Thus, proper calculations have to be done to weigh the choices carefully.
And what will be required when going into a HDB Resale transaction?
Don't get yourselves lost in the lalangs.
Contact me now!
Sallehin Halim
Agent Soul ERA
82981175
Buy|Sell|Rent
17 June 2022
MORTGAGE LOAN HIKE!
If you are utilising a mortgage loan from banks currently! Look here and read up the link below:-
If you are still on a fixed rate, locked-in period, start planning your next step before you hit the floating rates.
Those on floating rates, speak to your banker now, find out if it is best to get a fixed rate pronto.
If the next fixed rate is too high for you to sustain, start planning to downgrade and lower down your monthly mortgage repayments.
A property has to perform for you, or by the least, makes you feel comfortable owning. If it starts to bear too much weight on your shoulders, with nothing to gain in future, find another.
01 June 2022
EPISODES OF T.O.T.T - TALK OF THE TOWN
LTV of HDB Loans
Slashed to 85% FROM 90% - How does this affects first time buyers?
19 May 2022
DID YOU KNOW - Mortgage Servicing Ratio (MSR) VS Total Debt Servicing Ratio (TDSR)
Mortgage Servicing Ratio (MSR)
A percentage of your monthly income (30% of monthly income) is allowed to be used for monthly mortgage repayment - eventually limits spending power and lowers the maximum purchase price.
MSR is for the purchase of HDB flats and Executive Condominiums (direct from developer).
Total Debt Servicing Ratio (TDSR)
A percentage of your monthly income (55% of monthly income) is allowed to be used for monthly mortgage repayment and other loan repayment or financial obligations - eventually limits spending power and lowers the maximum purchase price.
TSDR is for the purchase of any properties which utilises bank loan for mortgage.
27 April 2022
DID YOU KNOW - HOUSING GRANTS
Purchasing Resale HDB Flats
1. Family Grant (FG)
FG up to $50,000, depending on the size of the flat intending to be purchased. The income ceiling is $14,000.
2. Enhanced CPF Housing Grant (EHG)
EHG up to $80,000, depending on the household income. The income ceiling is $9,000.
3. Proximity Housing Grant (PHG)
PHG up to $30,000, when intending to live with parents / PHG up to $20,000 when intending to live at least 4km near parents.
11 March 2022
EPISODES OF T.O.T.T - TALK OF THE TOWN
TDSR - TOTAL DEBT SERVICING RATIO
TDSR Reduction from 60% to 55%.
What does this mean for property purchasers?
7 March 2022
DID YOU KNOW - CASH OVER VALUATION (COV)
What is the difference between Purchase Price & Valuation Price?
When Selling in Open Market, the willing buyer and the willing seller must mutually agree to negotiate and set the purchase price. The valuation price will be revealed only after the buyer pays an option fee (maximum amount of $1,000) to seller and request for a valuation from HDB.
If the Agreed Purchase Price is $550,000 and the Valuation Price is $500,000, the COV will be $50,000 (strictly paid in cash).
If the buyer does not have sufficient cash to cover the COV, this may result the buyer in forfeiting the $1,000 option fee and seller will be under no obligations to refund.
It is fundamental to get your housing agents to have an estimated indicative valuation before putting down the option fee.
