Friday, February 04, 2005

X day ・・・・・・・・・・・ next week

The X day of my 3rd investment property shopping project is fixed in next week finally. It’s due to ex owner who sells this flat to move to Hawaii changed her plan so vertiginously that even property agents concerning got down…. Anyway next week, I have the final examination of property loans by the bank which has already approved by the prior examination before signing to get it.

Meanwhile I got an immovable property registration myself to read and find interesting records on there (as I expected…) I know it is bad taste thing but I love to read the property registration of properties I get interested. If the property had no trouble, and it should be the normal condition, there are not much records to read on. But properties experiencing the property bubble, it often shows interesting history records on it. 15 – 20 years ago in Japan, there was a so-called property bubble period when property price went up sky high and people lived in materialism. For this period, those good properties in central Tokyo bore and swallowed down incredible amount of money and when the bubble busted up, it’s all gone…what left was the long economic stagnation we still can’t get over…I was a young student during the bubble period but have memory of what’s going on around me… One reason I got motivated for the property investigation is I found that once was sky-high priced well-designed flat in good area is now sold out cheep as just one of old flat… Anyway certain properties show all records of what’s going on the bubble and after bubble periods on the registration.
The one I am going to buy, is old but popular for its design showing 70’s spirit, the flat itself is very tiny ( I say tiny in Japan’s scale…so must be almost none to American standard..) studio room. But the registration record says that this tiny studio had a mortgage of a 160 million yen loan in 80’s….how Craaazy……By comparison, the current price is less than 1 in 10 of that money and it’s still high rate compared with the other area. Then in 90’s after bubble period, as typically the flat was foreclosed by creditors including several tax offices and auctioned some years ago. . Hum, so perfect typical record.
This tiny studio Swallowed up 9 in 10 of that money,… Good God, must get full stomach and will work well for me. Indeed I must point that this one had the potential reason to be investigated (the matter was just it’s amount) and such a potentiality has never changed.

By the way I made it the ultra low budget life to save for the down payment in January even having a drunken up night with an old friend from Manchester. Am quit happy to find my new ability!!