Real Reasons Why Real Estate is So Expensive in T&T

[SR]

Whats the cost for a valuation these days

[*KRONIK*]

Whats the cost for a valuation these days

1600-3000

[SR]

Any registered valuators here??

[*KRONIK*]

Registered with?

[kjaglal76v2]

everybody wanna live in "nice area" but doh wanna pay, simply hang your hat within reach & hush yuh stink mouth

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[88sins]

everybody wanna live in "nice area" but doh wanna pay, simply hang your hat within reach & hush yuh stink mouth

dis is a big ppl ched
and wit jackass remarks like you jus make dey, you doh qualify to be considered big ppl

so jus crawl yuh dingy doh bathe ass back down in d neighbor latrine where yuh rentin & keep yuh dotish ass out a dis ched nah

[Tar Baby]

Removed by Moderator

[BoxEater]

had my property valuated by one valuator and i got 2.5M.....decided to get another opinion and got 4.3M from another.....when i get to find out...the 2.5M valuator was working with the real estate company

valuator say 2.5M....real estate buy it...and sell it for its 4.3M price....they win...i loss...easy money

smartmen all around...gotta be vigilant

[iM@st@1]

had my property valuated by one valuator and i got 2.5M.....decided to get another opinion and got 4.3M from another.....when i get to find out...the 2.5M valuator was working with the real estate company

valuator say 2.5M....real estate buy it...and sell it for its 4.3M price....they win...i loss...easy money

smartmen all around...gotta be vigilant

Wey that real disgusting, at least you lucky to get d S bf hand. What real estate company?

[10-01]

had my property valuated by one valuator and i got 2.5M.....decided to get another opinion and got 4.3M from another.....when i get to find out...the 2.5M valuator was working with the real estate company

valuator say 2.5M....real estate buy it...and sell it for its 4.3M price....they win...i loss...easy money

smartmen all around...gotta be vigilant

thats real messed up , when doing a valuation check the banks for ther list of companies .. had this problem already and had to do 2 valuations ... becuz the first valuation company was not on the banks trusted list

[88sins]

if yuh really want to kno sumn scary

those valuators the banks trust & recommend aren't any better, some of them actually do inflate or devalue at the clients request. at least 3 of them, that I know of, come recommended by ttmf, rbc & scotia as valuators & will bias a report if requested by the client & $$$ pass.

[10-01]

if yuh really want to kno sumn scary

those valuators the banks trust & recommend aren't any better, some of them actually do inflate or devalue at the clients request. at least 3 of them, that I know of, come recommended by ttmf, rbc & scotia as valuators & will bias a report if requested by the client & $$$ pass.

wow very scary .. but home owners should at least have an average ball park figure to what ther homes are worth ... we sometimes have to do a valuation for property Insurance and i have used the average for the past few years , it never significantly dropped ...

[BRZ]

Guess it's similar to vehicle evaluations, they valuing it high if it's in the banks interest, and when individual sellers trying to get a good value they valuing at small money. Trinis like too much ah smart man ways.

[toyolink]

Real Estate prices are determined by the market and unfortunately buyers don't exhaust all the available options.
The absolutely ridiculous prices and values we see today are a direct consequence of buyers having more spending power during our economic 'high'.
A downward trending of prices may very well be a feature of our now constrained financial resources since availability of financing would come under increased pressure.
During our last major recession way back in the 80's early 90's we actually had a situation where banks were holding mortgage balance for customers which exceeded the value of properties financed.The balance sheet impact was horrendous and banks like NCB, Workers Bank met their demise (remember vary-install plan).

[crazychinee]

People forget, valuations always carry a note that it is the opinion of the valuator....opinions are subjective.

I think the FIRST thing that needs to be fixed is the registration of agents, and systems in place to protect both a buyer and seller.
If that isn't done, sellers/landlords need to fix a commission prior to sale, not a % of the sale.


Eg: Mandatory offers made from a potential buyer being presented to the owner.
I remember in 2013, I acquired a property at about 60% of the asking value.
I initially had offered 85% of the original asking cost to the agent, who declined, but fortunatly a close friend was able to negotiate separately with the owner.


Agents run amok, arbitrarily pricing properties , it isn't all on the valuators or banks...ask the money launders and drug dealers hiding money.

[Redman]

Toyo hit it on the head.

Real Estate propping up many a shiddy balance sheet.

No one wants the music to stop.

[88sins]

Nobody sayin its all one party's fault
But everyone tha contributes to the escalation has to be held accountable for the part they played in the selling price goin hgher and higher

[A172]

so basically a thread dedicated to cryin dong ppl price yet alyuh vex when ppl lowballing ting alyuh selling here?

k

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[LOUD AND CLEAR AUDIO]

NEARLY GOT CAUGHT UP WITH THESE FOOLS AS WELL have soo many incidents that occured--i can write an entire book on these scams -----big big reputable sale agents too

[88sins]

so basically a thread dedicated to cryin dong ppl price yet alyuh vex when ppl lowballing ting alyuh selling here?

k

what you fail to realise, is that there is a vast difference between what ppl does want for something they sellin, & the actual value of what that something really is by monetary standards.
Lets say you are aware that the total cost to make a loaf of bread is TT$3.00, and that the person making it is asking for TT$900.00 for it, would you buy it no questions asked or look for something else where you would get sufficient value for your money?

[kjaglal76v2]

dais not wah allyuh doing tho, allyuh always busy counting ppl pocket, jus move on & stfu.

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[rspann]

What about the pri

so basically a thread dedicated to cryin dong ppl price yet alyuh vex when ppl lowballing ting alyuh selling here?

k

what you fail to realise, is that there is a vast difference between what ppl does want for something they sellin, & the actual value of what that something really is by monetary standards.
Lets say you are aware that the total cost to make a loaf of bread is TT$3.00, and that the person making it is asking for TT$900.00 for it, would you buy it no questions asked or look for something else where you would get sufficient value for your money?

Anybody entitled to call what they want for what they have, it is up to the buyer. I have paid double what land is worth ,just because of the location ,or because I needed it at the time, and the price is now twice what I paid. Men talking about agents and brokers, failing to realise that private owners also seeing and hearing high prices and calling the same price thus causing a never ending circle.

[MG Man]

comes back to my point...you can't really blame sellers, be they individuals or agents, if people are willing to pay the price.....the downside is not everyone can afford a property at current insane levels.....it's really tough to be starting out in life now...

[88sins]

dais not wah allyuh doing tho, allyuh always busy counting ppl pocket, jus move on & stfu.

There's an old saying:
The ignorant can be educated, the darkness can be illuminated, complexity can be simplified, but stupid is forever


far as I could tell, kjaglal, i really feel you immortal

[88sins]

comes back to my point...you can't really blame sellers, be they individuals or agents, if people are willing to pay the price.....the downside is not everyone can afford a property at current insane levels.....it's really tough to be starting out in life now...

everyone wants as much as they could get when they sell something. The problem with real estate here is that the prices are just climbing way to fast, & more often than not there is no real value being added to the property to justify the increase. So basically its greed that's the driving force behind it. I've seen ppl buy a property for 800K, & in that same year sell it for almost twice what it was bought for. and from what I see is not just properties for sale this happening with eh, it happening with rental properties too.

I sorry for the youngsters that will be trying to start out on their own 2-3 generations from now. it go be damn near impossible for the bulk of them to get property to buy.

[SmokeyGTi]

Sometimes i really wonder about people's source of funds.

A couple making a combined income of 30,000.00 per month will probably get approval for a mortgage of no more than $1.4 million, given a 25 yr payout.

I cant' remember the last time i see a good house selling for that price. always some unfinished house or some jokey lil flat that cost much less to build.

How the hell people buying 2 storey houses for 2.5 mil+....combined income have to be in excess of 40K

i waiting till recession really hit. just now them prices will have to come back down....or as long people have money to wash they will buy cash and is we to cetch...

[10-01]

Sometimes i really wonder about people's source of funds.

A couple making a combined income of 30,000.00 per month will probably get approval for a mortgage of no more than $1.4 million, given a 25 yr payout.

I cant' remember the last time i see a good house selling for that price. always some unfinished house or some jokey lil flat that cost much less to build.

How the hell people buying 2 storey houses for 2.5 mil+....combined income have to be in excess of 40K

i waiting till recession really hit. just now them prices will have to come back down....or as long people have money to wash they will buy cash and is we to cetch...

i highly doubt they will drop ..... better bet is to buy land and build ... saw Venture Credit Union gives loans to buy land and build also check dem out .. almost d same as buying a house jus mayb a few hundred thousands off ... and u build wat u want ... accordingly

[EFFECTIC DESIGNS]

Reading this thread makes me appreciate what a great man my grandfather was when he bought land with all his life's savings to pass it down to he grand chirren etc. He paid something like $9000 per Acre of land back then in Piarco.

[SmokeyGTi]

I hear yuh bro, and that's exactly what i'm doing.

[EFFECTIC DESIGNS]

I hear yuh bro, and that's exactly what i'm doing.

You can also go take government land and plant on it then claim it after 10 years.

It has people from my area that do that, prime land valued at millions of dollars, they just went and plant it and got deed for it under squatters rights act last year. You can then sell it for a profit. If these low life drunks can do it why not everyone else?