$1.2 million here we come

Recent caveat lodged: $ 1.16 million. (And the lucky seller is none other than an ex-SC member who made a cool 100% profit :)

I recently had a conversation with someone who was contemplating buying a unit in Loyang Valley  - an estate older than ours (we have 101yr lease) and about 27yrs into their 99yr lease. There is a common misconception about the 30yr mark and how the banks 'won't lend to potential buyers after the 30  yr mark, so you had better go en bloc'.

Many people believe this 30yrs refers to when the estate is 30 yrs old. This is incorrect. The difficulty arises only when the estate has only 35yrs remaining on the lease (ie, the estate is 65yrs old).   

So the aging estate/bank difficulty scare tactic is bogus. We have many happy years of reselling ahead of us. The upward trajectory in resale prices in the present bullish market has therefore every prospect of continuing.

Tilting at Windmills

There was a dialogue session with owners on July 28 and to date we have not seen any minutes of this meeting on the notice board. I am only now getting a little feedback on what transpired. 

I believe one issue raised by a SP in the estate was that the end staircase of block 123 was tilting.  

Fiddlesticks. As an owner who uses that particular staircase every day of my life I can say that I have never noticed such a tilt - if it indeed exists. And what was this SP implying anyhow?  That our HDB-built estate is structurally unsound?

I hope the managing agent might come out and assure all SPs that Tampines Court is as solidly built as all the other HDBs that surround us; that minor imperfections, if they are found to exist, are nothing to worry about.

What other points were aired at that meeting?  We are well used to scare tactics, but really this one sounds like desperation to me. Tilting staircases? More like tilting at windmills.