Latest Trend in Properties - A Future Price?!!

It is amazing how some owners are happy with the hot property market but are still not satisfied with the prices that their properties are currently fetching. "What if the price goes up some more?" many say to themselves. Hence, the next best thing they do is to ask for a future price for their properties.! Therefore properties are often sold above valuation, and in some cases way above valuation or what I call a "future price". This is examplified by the purchaser who paid $150,000.00 above the valuation of the 5 room Housing Development Board flat in Tiong Bahru.

Many want to sell now but are still not satisfied with the already high price; they want to sell at a projected price. We often remind our clients that no one knows what the morrow may bring. We have forgotten how Sars took us unawares; we have forgotten September 11th terrorist attack in the United Sates; we have forgotten how the tsunami took away lives on 26th December - the bleakest boxing day!

One of my colleagues complain that her clients keep jacking up the purchase price. When she has achieved the price they want, they will increase the price by another thirty thousand and this continued from $1 million to $1.8 million! Another jacked his price from $2 million to $3 million!

If there are any property agents amongst my readers from other parts of the world, I will appreciate your enlightenment - does such a phenomenum also take place in your country or is it only happening in Singapore?