As with most property sellers and owners we all want to achieve the highest possible price for our properties. But asking way above what the market is willing to pay for is unrealistic and may well kill off the interest in that particular property.
In a very bullish market when sentiments are running high, buyers may consider paying a premium. Pushing for record prices is way too common and customary. On the other hand in a buyer’s market when supply is more than demand, putting a high price tag on your property simply helps your neighbor sell his property.
Singapore’s Pinnacle@Duxton is a case in point. Pinnacle @ Duxton is an award winning housing architecture located in Singapore’s Central Business District (CBD). The value and resale prices have been on a roll for most HDB homeowners, breaking higher and higher price records.
City View @ Boon Keng is the latest HDB DBSS public housing flat to break the psychological one million price benchmark.
As much as we want to squeeze the market dry, it’s always good to leave something behind for others to have a bite of the cherry. Rule of thumb is to take profit quickly if you are offered a reasonable good price. You never know if you will ever get another better price.
When the media sings and helps you to hyped up your properties, it’s time to take profit.
When the media hypes, the Fat Lady sings. And when the Fat Lady sings, God is good to you. And when God is good to you, take whatever you have on the table.
But for most people they become greedy when God is too good to them.