Currency ServicesCurrency Online Newsletter March 2008

PROCRASTINATORS BEWARE

Waiting for a market bottom

Could cost you if foreign exchange or interest rates start to move adversely.

The latest real estate market headlines are depressing: home prices are down, new-home sales are at record lows, foreclosures are up and credits are harder to get. All this has many buyers sitting on the sidelines, afraid to make a move. But, waiting for the market bottom may not be the smartest strategy especially if you are an international buyer looking to invest and purchase property in Mexico. Actually, now could be a great time looking to buy and here’s why. Your payments may actually be less today, even if prices fall further in the future.

Assuming a Canadian buyer who’s looking to buy a house in Mexico priced at $350,000 in USD today and decided to wait for another 6 months because he heard analysts saying that the real estate market will likely touch bottom towards the end of 2008.

Now let’s look at the monthly payment if we get some possible moves, including further price drops:

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