5 Evernote Applications to Boost your Real Estate Sales

As I was writing about why Evernote was essential to my business 3 days ago and getting ready for the lesson for my team, it would be better to further deliberate on some scenarios why Evernote could boost your sales instead of just plain boasting about that green elephant. These are some snippet applications on what you could use your Evernote for in Real Estate.

Using a Pen and a Paper to Goal

Cool ainnit?
My goals for 2014

I love to doodle. It’s innate. And it’s still my best way to get many things done with even checklist boxes and things to do with scenes to follow. Since it’s the end of the year and most of us would write the goals for 2014, why not try this:-

Write your quarter goals for 2014 (Q1, Q2 nada nada) and have them broken down into what you would be doing on a piece of paper? I use Moleskin because I’m a sucker for quality products, but hey, a 555 jotter (your childhood 10cents book) will work here. Write down everything you want to do for 2014 and snap shot with Evernote ‘Document’ camera mode.

It’s that simple. Continue reading “5 Evernote Applications to Boost your Real Estate Sales”

Redhill GLS – Litmus Test to Singapore Market

The Singapore Government has cut short of supply to their Government Land Sales with the announcement of 7 new sites for next year in H1 2014. Of the 7, 4,630 private apartments can be carved to the supply and it’s one of the lowest supply introduced since 2010.

Right next to Wingtai’s “The Crest” (960 psfppr in September 13) would be the only GLS plot (2.37ha) which is at City fringe for H1 2014 and can potentially yield 655 homes would be the highlight of the exercise.

This would be a good indicator of Singapore developers sentiments for the market on whether are they still positive on topping and developing their land bank for the consumers.

With limited residential supplies coming online, the Government is watching very closely on the supplies as well to prepare a soft landing should the market do some corrections.

this is an interesting plot

ps. What’s interesting to me would be the commercial plot which is right next to City Plaza. The area has a good vibe going on with UOL’s Katong Regency coming online.

Evernote for your Real Estate Business

After a good 7 years, I have been going through what is seemingly a high transition on how print media dropped its anchor of being the leader in information and coverage; where Real Estate sales became more transparent with different media portals, discussion boards, and even the way that you handle your clients have changed.

Brooding over the weekend, these are the factors which are important to me and why Evernote is a game changer and why you should use it to run your Real Estate business.

Why Do You Need a Third Brain

There’s too many things happening in our fast paced career. You have appointments to appointments, with things to follow through from different customers. You have things to learn everyday. You follow up with real estate news. New cooling measures break in, you have to follow through the regulatories to understand and see how it applies to each of your clients.

You drive. Calls come in, you have to probably “take notes” or call your clients later. This can go on, sometimes even 14 days in 2 weeks. And you forget something important in the midst. You get into trouble.

This happens. Continue reading “Evernote for your Real Estate Business”

Cooling Measure for Executive Condominiums

To complete the loop for a sustainable Executive Condominium (ECs) market, Ministry of National Development has introduced 3 primary measures to the EC segment, primarily:-

  • Reduce EC Cancellation Fees – From existing 20% down to 5%
  • Resale Levy for Second-Timer Applicants – Formerly second timers are not required to pay a levy. This is applicable to only new EC land sales which are launched on or after 9th December 2013
  • Revision of Mortgage Loan Terms – From a previous mortgage servicing ratio (MSR) level of 60% to now 30% of a borrower’s gross monthly income. The MSR cap will apply to EC purchases from today onwards.

You can read more from the official source.

How will it affect the EC Market?

This will still primarily drive the 1st timers to purchase at ease and since they have lower cancellation fee, this would allow them to think prudently on their financing capability. Backing out would be less painful for them.

2nd timers would probably rush for existing EC launches prior before today so they would be able to avoid the levy. Again, these pool of purchasers would weed out in the market gradually.

EC developers would also be more careful when it comes to bidding for future EC land when it comes to affordability of EC purchasers since the MSR level came down drastically. We’ll see more competitive land bids for future plots; if not lesser.

Will it affect the Overall Market?

As of current, the primary indicator would still be HDB. With HDB prices tapering and aggressive supplies in the pipeline introduced by the government coming online, this would be the median basis of the fundamentals.

Prices should soften for the resale market for the next two quarters, as we’re experiencing a shift of tide already from the seller to the buyer’s market.

Whilst prices might soften, residential buyers should not expect a drastic drop in pricing as the rental market for residential segment is still active.

Riots at Little India Resolved, Roads are Open

Little India Riot - credits to TodayOnline

Riots happened in Little India last night around 9.30pm at the cross junction of Race Course Road and Hampshire Road involving at least 400 people, involving some 300 police both Special Operations Command (SOC) and the Gurkhas Contingent were activated to mobilise the incident. You can read more about it in Straits Times Online.

Personal Thoughts

As of most Singaporeans, I had trouble sleeping knowing there was mishap happening in the country. The speed of social media’s reach was amazing. Twitter triumph all social platforms on the updates, even faster than our news media since the first photo of the riot was posted, and videos follow suit in Youtube for the explosions of the emergency vehicles. A hashtag search on #littleindiariot and you would get the latest updates with Minister Tan Chuan-Jin (@chuanjin1) pleading the public to stay calm during the ordeal. The tag has caught a huge global audience with the trending ranks of Twitter.

Kudos to the effective Home Team whom managed to subdue the angry mob within a short period of time without even firing a shot (Having gone through Army, I understand the rules of engagement well). At least no one else apart from the traffic accident was killed amidst the riot. My heartfelt gratitude to the peacekeeping HomeTeam and people whom are trying to help on site even amidst the chaos. Continue reading “Riots at Little India Resolved, Roads are Open”

URA Masterplan 2013 is almost here. MCE too

URA Masterplan 2013

Remember I’ve mentioned about the Masterplan is due for update this year? Channel News Asia did a report on the draft Masterplan 2013 which should be exhibiting soon and will be then finalized by next year. Recently I had a discussion with a developer friend and we suspect that there might be some land intensification in this version.

Either intensity or not, this version of Masterplan would be exciting to look at since the current version based on 2008 with revisions of street blocks over the years was definitely deemed successful in terms of urban planning for the nation.

Marina Coast Expressway (MCE) to be opened on 29 December

Probably one of the most costliest expressway to construct (and the most expensive expressway ever built in Singapore), this 10th exciting expressway is set to debute by the end of the year. With this 5km that connects to mainly the Marina Bay area as well as major expressways including KPE, ECP and AYE, this will ease and definitely improve traffic landscape.

Exciting changes doesn’t really end there. This definitely benefits some of the residential and commercial elements along the expressway which has a sea view that was previously pegged by noise levels from ECP.

Watch the video here to understand more about MCE.

Hillview Peak – Convenience in an Enclaved Sanctuary

Kingsford Hillview Peak

Hillview Peak is a 512 unit apartment condominium tucked in lush greenery of Hillview area. This would be Kingsford Development’s first foray into Singapore residential market. Why is Hillview Peak particularly exciting as a brand new condominium that is about to join the ranks of Hillier and Lanai in refreshing the quiet and peaceful vicinity?

Short Project Summary

Kingsford Hillview Peak
Artiste Impression of Kingsford Hillview Peak

Project Name – Kingsford Hillview Peak
Tenure – 99 years leasehold commencing from 4th June 2012
Number of Units – 512
Type – Full Facilities Condominium consisting of one block of 26 Storey and 2 blocks of 12 storey residential apartments
Estimated Year of TOP – 2016 Q4 Continue reading “Hillview Peak – Convenience in an Enclaved Sanctuary”

MAS Introduces Debt Servicing Framework for Property Loans

MAS introduces new property debt servicing framework for property loans
MAS introduces new property debt servicing framework for property loans

Just when property market picks up by a little notch, MAS introduced a new cooling measure by introducing debt servicing ratio framework. With effect from 29th of June 2013 (by tomorrow), the new rules will take effect to ensure that a property buyer’s monthly payments do not exceed 60 percent of his income.

This new TDSR (total debt servicing ratio) will apply to loans for the purchase of all types of property, loans secured and refinancing of all related property loans.

This is to encourage prudence on borrowing and refrain borrowers from overexposure to financial risk. Banks will also have to apply a specific medium-term interest rate, or prevailing market rate, whichever is higher, to the property loan that the borrower will be apply for.

This would definitely affect in particular for existing property owners who are seeking to purchase another property for investment, be it residential, commercial or industrial.

[block type=”alert”] You can read more about the framework from the official MAS website here.[/block]

Will the new TDSR affect the existing mortgages?

No. As all your contracts are inked in and approved, this definitely will not affect your existing mortgages. I suppose what MAS worry about is the possibility of interest rate increasing that might put borrowers who neglect the ratio and is overweight on any type of mortgage loans.

In all honesty, TDSR of 60% has always been the norm, but just not followed through strictly. Now with the framework that is in place, I guess stringent checks with proper documentations are needed before loan gets approved. That might mean that loan approvals might take longer than your usual.

Personal Thoughts

As of current since the framework was just released, our banker friends were not briefed yet on how this would impact their existing and new clients as well. More updates on Monday as soon as more case scenarios are being melted out. Look out for the space here.

My hunch is that MCL Land J-Gateway’s outstanding performance of 738-units selling out today probably triggered this new cooling measure which probably was already in the pipeline.

5 Most Important Traits of a Real Estate Agent

Having being in the industry to see the different cycles in the market and grooming great people to work with in my team, people right outside my industry always ask what is the most important trait to success in the business. This question always lead me to ponder whether there is one that is more outstanding or more important than the rest of the other traits or whether do they have any order of priorities at all.

And then there are these few atop that is worth mentioning and these are the ones that guides my principle not only in the real estate business but to most of the things I do in life.

Be Responsible

To mention that you are responsible is a statement. Wholeheartedly responsible is to be able to do the things even when nobody else might even know or notice that you have done the right thing. In order for you to do well, you would have to be set goals (short, medium and long-term) and stick to them. You would have to plan your week, your months and your quarters and make sure you carry out your tasks. This is responsibility to oneself and plays a crucial part to our business.

Continue reading “5 Most Important Traits of a Real Estate Agent”