A simple question for 북가주강남!
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Hmm, let's see.
You are putting down a little less than 20% for the down
payment, right?
If you are putting down 20% or 25% that would make a
better interest rate.
Anyway, your question is what if house market remains the
same or goes down 15% for next few years? Well, if we all
know that house price is going to go down 15% or so for
next few years, then you do not want to buy a house and
carefully watch over the house market for the next few
years. But, no one knows what is going to happen for next
few years. It seems like nothing will happen or the house
market will be down for the next few years. But, somehow
the house market is still strong in a few areas. That is
because there is still a strong demand. This tells me that
there are more buyer than sellers in certain areas. I am
also agreeing with many other people who think that the
house price went up too rapidly. But, the area in
Silicone Valley is a different story. Look at what happen
in Seoul Kang Nam area. In 1999, the apartment price was
some around 3억. At that time it was sky high but, now
those apartments are now 10-13억 Won.
Can you believe that? But, those apartments price will
keep going up instead of down, because of it's area. That
is why the house price continues to be driven up.
Same scenario applies in the bay area. Everyday the SF
International Airport brings in hundreds of immigrants day
after day. These Asian immigrants bring so much money.
Therefore, if you are planning to buy a house in a nice
neighbor and good school area, you can not go wrong even
though the house pricing went down 15%. If you have a
decent job and are able to make a payment which is not
over 50% of your paycheck, then you should be prosperous.
Let's say, if you do not buy a house now because of all
this uncertainty in your future. The only problem is that
the house price might go up again and you may lose your
chance, since the house price can change from month to
month.
I can almost guarantee that 3 years from now, you will
believe that buying this house will have been the best
decision you could have made, if you are able to afford
the payment and survive the next couple of years.
Hypothetically, Everyone think as you and not buying a single house for next
year or so....What is going to happen economically? No matter what the market is, it doesn't matter. People still need to buy a house!
부동산님이 2006-05-05 00:20:32에 쓰신글
>Dear 북가주강남,
>
>My credit score is 720 and I can pay about $150,000 for the down payment. I am looking to buy a decent three bedroom house in cupertino. I guess they are about $850,000+... If I were to purchase it with interest only option, is this a good time to buy? What would be the immediate effects if the value of my house goes down for the next a few yrs? Say about -15% in the next a few yrs...
>
>Or is this a good time to just sit on the side line and watch the market?
>
>Your honest input would be greatly appreciated. Please reply in English. Thanks.
You are putting down a little less than 20% for the down
payment, right?
If you are putting down 20% or 25% that would make a
better interest rate.
Anyway, your question is what if house market remains the
same or goes down 15% for next few years? Well, if we all
know that house price is going to go down 15% or so for
next few years, then you do not want to buy a house and
carefully watch over the house market for the next few
years. But, no one knows what is going to happen for next
few years. It seems like nothing will happen or the house
market will be down for the next few years. But, somehow
the house market is still strong in a few areas. That is
because there is still a strong demand. This tells me that
there are more buyer than sellers in certain areas. I am
also agreeing with many other people who think that the
house price went up too rapidly. But, the area in
Silicone Valley is a different story. Look at what happen
in Seoul Kang Nam area. In 1999, the apartment price was
some around 3억. At that time it was sky high but, now
those apartments are now 10-13억 Won.
Can you believe that? But, those apartments price will
keep going up instead of down, because of it's area. That
is why the house price continues to be driven up.
Same scenario applies in the bay area. Everyday the SF
International Airport brings in hundreds of immigrants day
after day. These Asian immigrants bring so much money.
Therefore, if you are planning to buy a house in a nice
neighbor and good school area, you can not go wrong even
though the house pricing went down 15%. If you have a
decent job and are able to make a payment which is not
over 50% of your paycheck, then you should be prosperous.
Let's say, if you do not buy a house now because of all
this uncertainty in your future. The only problem is that
the house price might go up again and you may lose your
chance, since the house price can change from month to
month.
I can almost guarantee that 3 years from now, you will
believe that buying this house will have been the best
decision you could have made, if you are able to afford
the payment and survive the next couple of years.
Hypothetically, Everyone think as you and not buying a single house for next
year or so....What is going to happen economically? No matter what the market is, it doesn't matter. People still need to buy a house!
부동산님이 2006-05-05 00:20:32에 쓰신글
>Dear 북가주강남,
>
>My credit score is 720 and I can pay about $150,000 for the down payment. I am looking to buy a decent three bedroom house in cupertino. I guess they are about $850,000+... If I were to purchase it with interest only option, is this a good time to buy? What would be the immediate effects if the value of my house goes down for the next a few yrs? Say about -15% in the next a few yrs...
>
>Or is this a good time to just sit on the side line and watch the market?
>
>Your honest input would be greatly appreciated. Please reply in English. Thanks.
작성일2006-05-07 08:43
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