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 Are you guys ready for hike in interest rate?, Interest rate rising in July & September

Are you guys ready?
 
Yes, my loan percentage is low compared to my earning. [ 124 ] ** [63.59%]
No. (Explain why no?) [ 71 ] ** [36.41%]
Total Votes: 195
  
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Tigerr
post Jul 11 2014, 07:51 PM

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QUOTE(bearbearwong @ Jul 11 2014, 05:49 PM)
yup tiger if you are reading, you are god damm wrong ystd it is 6.85% try harder next time..

please provide links as well, for the benefit of all
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Ok. You're right. I am wrong. But u never go to kopitiam update me leh....

hmm.gif interest rate hike already...my next brokering commission coming in I sekaligus dump into the bank n can tahan 0.5 basis point for more than 30 years....still no effect leh except wasted my effort to close one of my deal....
Tigerr
post Jul 11 2014, 08:33 PM

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QUOTE(gogo2 @ Jul 11 2014, 08:13 PM)
Oh you are property agent. So how is the subsale market nowaday? Is it as bad as what BBW kor kor told us?
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Nope...I am not in property...I in chartering, selling n trading in marine line.

This post has been edited by Tigerr: Jul 11 2014, 08:33 PM
Tigerr
post Jul 11 2014, 08:40 PM

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QUOTE(gogo2 @ Jul 11 2014, 01:52 PM)
Wah, the news talk about Malaysian unable to buy house.

Means before interest rate increase, loan 50% rejected.

Next month increase interest rate, loan 60% rejected?

So how to make property saleable again? Have to cut price liao lor. I just scared developer cut corner only.  laugh.gif
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What is use of properties price drop if cannot get loan? Can see can smell but cannot touch...tongue.gif
Tigerr
post Jul 11 2014, 08:54 PM

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QUOTE(gogo2 @ Jul 11 2014, 08:51 PM)
Ooo... I guess your line is not linked to economy since marine is good no matter up or down.
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Oil n gas side is still very good...
Tigerr
post Jul 11 2014, 09:32 PM

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QUOTE(bearbearwong @ Jul 11 2014, 09:16 PM)
ok lor.. dun so serious lar... JK only maa.. remember and bare in mind not everybody/investors are like you.. more often than not.. everyone thinks colorful but not everyone get colorful,

just like b4 world cup starts, you qualify, and all dreams are going to come true till you taste the defeat... it is irregardless whether you had advanced like this parking whole commission into loans, how many time can this stretch, look at brazil, they made it to semi finals (survive even after 2 cycles of increase and GST increase) and yet you lose without dignity by 7-1, hmm just some thoughtful Friday ahead..

on whether property market is bad, come yourself and see the occupancy rates and book few agents to see the units.. and the price, try also show some interest and see how they react..
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Dont worry too much...just let us know if property price has dropped or not...
Tigerr
post Jul 11 2014, 09:55 PM

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QUOTE(bearbearwong @ Jul 11 2014, 09:44 PM)
bro existing housing loans confirmed to pay extra loans, For instance, a homeowner servicing a loan with RM300,000 outstanding and a remaining term of 20 years would be asked for an additional RM500 per year or RM42 per month in loan repayments.

source:

http://www.malaysiakini.com/news/268415

guys out there please update for the increased loan repayments ya.. for August and September 2nd increase..
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500 per year....we go out karaoke less for one night can easily cover few years lor...

and many bros here if one day hisap one packet rokok less also can cover 0.25 basis point.
Tigerr
post Jul 11 2014, 10:06 PM

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QUOTE(bearbearwong @ Jul 11 2014, 10:02 PM)
yup, provided is 300k, try multiplying to more times.

Q: is, will owners swallow the said extra monies? bear in mind there is another series of increase on September also same 25 basic points..

will owners increase rentals? will mamak stalls increase the price of foods or just swallow? and GST effect after this?

if everyone owners increases rentals respectively only to cover the loss (which i doubt coz , opportunity comes dont want to profit), how about tenants? or businessman renting? when everyone increase you know the effect lor..

say A= is paying housing loans extra for RM84 monthly (600k loan)
A also renting a shop to do business extra RM84 (increased by owners as owners shops cost RM 600K)
A buy supplies from sundry shops extras
and the list continues on..

so overall effect? and imigine the second wave, then GST 6%.. got feeling after all are added in one shot?
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That is called inflation lor...

when all this inflation comes....your people (not rich) ll get squeeze hard n even properties price drop also dont have the money to buy...so, it is still in equilibrium state
Tigerr
post Jul 11 2014, 10:08 PM

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QUOTE(lai_dm @ Jul 11 2014, 10:04 PM)
bro 500 can go 6-7 times karaoke la
we all sharing the total bill wan ma  tongue.gif
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We go karaok..500 may be can't even cover the gro cost alone...tongue.gif

This post has been edited by Tigerr: Jul 11 2014, 10:09 PM
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post Jul 11 2014, 10:26 PM

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QUOTE(bearbearwong @ Jul 11 2014, 10:10 PM)
yup, if got people rent your shops/house then you just top up or ask for increase, but if no one rent shop or house... then swallow increased interest?

we know Malaysian business sense is got chance increase surely amplify the increase.. lets monitor how many owners are prepare to swallow increase?
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Myself is one of the owners who can swallow the increase. Goid time whack the rental. Bad time swallow lor....do business got to be flexible mah
Tigerr
post Jul 11 2014, 10:34 PM

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QUOTE(bearbearwong @ Jul 11 2014, 10:08 PM)
red box, green box times square ask increased rentals oh.... how leh? buffer karaeok increase bit lor per head RM5-10, 5 fellas RM25 to RM 50..

that is just one of it, try eateries too..
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Consumer has a choice.....u r not oblige to go if u feel the price increase is not right or u r not afford to pay...
Tigerr
post Jul 11 2014, 10:46 PM

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QUOTE(bearbearwong @ Jul 11 2014, 10:27 PM)
of course we are flexible, but flippers are not.. only capital appreciation, cannot sell, money stuck, end up paying more.. how?
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Paying more is not the end of the world lar...do investment where got sure win lar....
Tigerr
post Jul 11 2014, 11:30 PM

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QUOTE(kradun @ Jul 11 2014, 11:26 PM)
if they are smart they should sell u cheap instead of keep themselves bleeding, but at 1st got to get them educated else not so smart 1 will keep holding they bleeding prop till durian jatuh.
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This is just your wishful thinking only that they ll want to sell u cheap....u see those farmers at cameron highlands, when tomato price drop so much, they rather destroy it than sell u cheap....laugh.gif
Tigerr
post Jul 11 2014, 11:31 PM

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QUOTE(tikaram @ Jul 11 2014, 11:15 PM)
Before this,  i already eat roti kosong.

now i need to order half roti kosong lio. cry.gif
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Got roti kosong to eat is still better than those who squatting at the road side see u eat n got to wait kechara kitchen at night....
Tigerr
post Jul 12 2014, 12:16 AM

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QUOTE(AMINT @ Jul 12 2014, 12:07 AM)
blr-1.8? hahaha. ur loan must be from 2007 or so.
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I got one loan with BLR-0.7%.....
Tigerr
post Jul 12 2014, 12:20 AM

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QUOTE(AMINT @ Jul 12 2014, 12:17 AM)
ini bila ni? before 2005 i presume.
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I also cant remember which year I bought already..04 or 05...no lock in period type. Just left not much as I have made lots of advance payment n in case need cash. Just withdraw it out by paying rm25 processing fees....
Tigerr
post Jul 12 2014, 01:08 PM

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QUOTE(bearbearwong @ Jul 12 2014, 12:59 PM)
brother 500k is actually RM200 monthly.. after september 25 basic points increase..

actually 200 monthl means like this..

extra 50k loan you will be eligible if taking 35 years

so, a property worth 500k subsales (flipped)

bank gives valuation of 80% where in most case it does, so

loans that bank offering= 80% X 500k=400k

now that is before the increase of BLR, if after 0.5 increase in BLR after September, borrowers need to forked out extra 200

in actual fact ,RM200 = less 50k loan on a 35 years tenure, assuming interest rates never fluctuate maintained at 7.1%

so the 400k loans now left 350k loans, you need to top up 30% more just on housing loans.. and when owners got hit by BLR they transfer it to its tenants, tenants will transfer to you borrowers or some call inflation but BLR is targetting to loans.. we will be hit by all angel and lastly our friendly GST..

all these are just normal transfer of burden becasue of OPR increase , we havent include the ones the greedy owners/ middle man will do on a 200 increase.. maybe 400 and profit 200?
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So. For u who hasn't bought anything yet...now u got to fork out extra 10% lor...is this benefit u??? Guess u r happy for this...tongue.gif
Tigerr
post Jul 12 2014, 02:13 PM

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QUOTE(bearbearwong @ Jul 12 2014, 01:30 PM)
wow, very good idea.. like this can reverse physiology , the extra 10% buyers pay BUT seller not going to lower down but instead increased another 10%

we top up 10% for decreased loans amount, another 10% being over value, another 10% for deposits and you add another 10% as increase to cover up BLR increase..

man poor buyers, they gotta come up with at least 50% cash in hand to buy flipped units..

very good, like this can pressure buyers to buy now rather than buy later, and then the following are:

a) RPGT (affect subsequent buyers to sell)
b) foreigner consent (affect subsequent buyers)
c) BLR increase (buyers bare extra 10%)

wow, gotta say BBB are creative, but if it works it be genius, but if did not like now.. hmm. for buyers as you mention, now cannot buy, after increase BLR also cannot buy, after GST also cannot buy, what is the difference, BBB keep all their units and pay bank lor..

no rule say we must buy from subsales.. next year onwards developer have to built and sell.. loan confirm 90%, you gotta compete with them in pricing man.. buyers are paying BLR increased anyway ...
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I never said u have to buy from subsale...afterall I am not an agent nor am I selling my properties to u.

I just mainly caution u that if u r expecting price crash to buy, it ll not be that easy too when price us crash unless bear bear u niw have plenty of cash holding to wait....
Tigerr
post Jul 12 2014, 02:15 PM

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QUOTE(bcpbeancounter @ Jul 12 2014, 01:46 PM)
Bear bear already foresee price crash 30%. I foresee it is harder for him to buy one now, harder when second round of increase in Sep and no hope to buy 1 after 1 April 2015. tongue.gif
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They are already in dilemma to buy or not to buy. The more they talk about DDD, they more harder they convince themselves to buy as got face value to take care(they think face value can be eaten one)
Tigerr
post Jul 12 2014, 03:52 PM

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QUOTE(HuiChyr @ Jul 12 2014, 02:58 PM)
I don't exactly know but just my opinion.
If sign up rate to loan is dropping = growth rate to collect interest rate drops which sole income to banks.
Don't you think banks will go back to BLR +0%? Or worst BLR + 0.x%.
Meaning no more minus rate from BLR.  hmm.gif

You know la this banksters ... they need to report growth income very year ma ....  brows.gif
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Bank is competing with other....if u BLR-0% while another BLR-2.4%, u know which bank to go lor....guess u ll be queuing to get the loan there
Tigerr
post Jul 12 2014, 04:01 PM

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QUOTE(beyond86 @ Jul 12 2014, 02:34 PM)
When demand is slower, but supply is still there, the price might drop
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The price wont drop in general. Even if the supply is there n less demand, the price may just adjust some discount from the increased profits. Example. New property launching at 500k with 8% early bird discount end up at 460k. After VP, everyone putting a price tag 650k-700k. So, when cannot sell, some may reduce to 600k or even some (may be very little n those desperate one) will go down to 500k. Is this what u call price drop n is this what u r waiting for?

If u are waiting for it to correct 20% based on the 460k of what the buyers originally buying, my guess is u died that day also may not happen. Except ah loong case where they dying fir cash....

so, if u feel this wont happen, why u still waiting?

Every year, the govt putting some measure to lift the level of difficulty for us to buy n it is going to be harder n harder going on.

When it becomes too dufficult that time, u ll only start to regret that u didnt take action earlier. May be waiting to queue to buy 1 prima house or upgraded low cost apartment at the wrong location. Or may be renting is the solution. Look at hong kong, property price really goes up crazily high n prople's option is to rent.....
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