buy house now?, is it worth to buy house now?
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 Jun 30 2008, 01:13 PM
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#1
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QUOTE(robertngo @ Jun 30 2008, 08:44 AM) haha, last week i apply to like 7-8 bank, still waiting for result, how long you wait for the reply?  seem like ur loan having trouble... mine apply CIMB, Alliance, HLB & PBB... Alliance, Hong Leong and PBB 3-4 working days inform me my loan approved, so i wait for offer letter around 5-6 working days for PBB... i signed offer letter after 1 week i submitted my documentation... |
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Jun 30 2008, 05:36 PM
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#2
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QUOTE(A1700 @ Jun 30 2008, 02:35 PM) I brought house at Butterworth Penang, expected to be completed by end of next year 2009. But now I'm worried this project will suspensed because of raw materials price all went up 30 - 40%. Hope this will going to happen. Thanks. this depend on the developer whether they did "good homework" before they launch any house... as what i know, developer will "lock up" the price of raw materials with all the suppliers before launch new house... so if sudden price hike occured wont effect much since the price locked for certain amount of raw material amount... that is how all of the QS work in developer company... calculate the correct amount of material and order from suppliers... QUOTE(robertngo @ Jun 30 2008, 05:01 PM) dont scare me lah, just submited 4 working day ago.  Added on June 30, 2008, 5:03 pm but the current inflation is not due to demand but more because of rising cost, when building material cost more, you cannot expect the developer to sell at cheaper price even is sales is slow. no scare u lah... hehe... u should call ur banker now to know ur loan status... dont sit and wait till last minutes... yeah... upcoming new house price will increase because the cost of raw material and operation... But we can get house with cheap price if economy recessions striked in malaysia bcos no demand and ppl forced to sell house asap to cover the loss... but at the moment getting the house with cheap price, i believe bank will package very high interest's package also... unlike current BLR-2%, maybe that time will BLR-0% or BLR+1%, bank also need money to ensure their operation still in normal condition when recession striked... so actually no much different between expensive house with low interest or cheap house with high interest... just depend on our luck how cheap the sellers going to sell their houses... |
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Jun 30 2008, 05:53 PM
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#3
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QUOTE(robertngo @ Jun 30 2008, 05:42 PM) my loan go problem at bit with valuation last week, but now seem all the bank can get the value now so should be a few day before approval is know. you guys have problem with bank valuation before or not? i dont have issues at all i think...  1st, my banker calculated my income able to afford the houses 80%+ my loan can be approve... 2nd, i have 99% clean CRSIS record... 3rd, my salary bank-in into the particular bank saving account (so bank can auto debit from my salary) Added on June 30, 2008, 5:55 pm QUOTE(Moneylust @ Jun 30 2008, 05:47 PM) Robert, you just doomed yourself  Never apply up to 7-8 banks. They'll all think you are desperate and have something to hide.but i think banks dont have the relationship with each others right? unless they can record the loan application into system (something like CTOS/CRSIS) and able to view by every banks... This post has been edited by gkl83: Jun 30 2008, 05:55 PM |
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Jun 30 2008, 06:12 PM
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#4
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QUOTE(Moneylust @ Jun 30 2008, 05:56 PM) I think Robert meant some valuer valued his property at substantially below market price. It happened to me before. Some valuers are idiots. Added on June 30, 2008, 6:01 pm Yes, every single of one your application is on record. Banker from Bank A can even find out what is the margin of finance you asked for from Bank B and Bank C and Bank D. If the first bank to give an answer rejects your application instead of approving it, you'll be in trouble  u means the valuer are the bank's staffs? i know that bank will check the house market value and the provide the loan according the house market value but no the selling price from sellers... i asked a banker and he said house price can quote below market value, maybe that house extremely poor condition? impossible poor condition house but still have to follow market value...  hm.. no wonder got a bank no giving me any news since 3 banks approved my loan... This post has been edited by gkl83: Jun 30 2008, 06:13 PM |
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Jun 30 2008, 07:27 PM
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#5
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QUOTE(ah_heng @ Jun 30 2008, 06:48 PM) My prediction would be the housing market may be soften in the next 12 mths. Although raw material cost increases, but because the demand for houses may be lowered in view of the current economic and political instability. So demand low, supply high... what you guys think on the prices?  ))if demand low, supply low? if demand low, why developer going to launch new houses that may cause the loss for themselves? rather that they invest the money on another sector instead... if sell the used house when low demand period they may reduce the house price if they desperate to get the cash asap... |
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Jul 1 2008, 05:50 PM
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#6
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QUOTE(robertngo @ Jul 1 2008, 03:21 PM) today several bank approve my loan, right after bank negara make anouncement it will hold rate at current level at this month meeting, is this connected?  u getting Fixed Rate package right? if BLR fluctuation happened, bank dont have authority to advise the fixed rate interest that agreed in the loan agreement earlier... |
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Jul 1 2008, 07:16 PM
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#7
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QUOTE(robertngo @ Jul 1 2008, 07:07 PM) fixed package only got one PBB 5 year fixed at 5.4, other banks are flexi package. same with me taking the same packages from PBB... hopefully inflation or recession happen within this 5 years... later economy may stable and BNM giving better BLR rate after 5 years and advice for lower BLR from PBB... This post has been edited by gkl83: Jul 1 2008, 07:16 PM |
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