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So many people have been waiting the market to slow down from last year, some of them have the down payment to purchase this spring.
+ x( X8 b2 u' F/ P0 x$ HHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
/ U; H! p5 f% }* dIt is always better to buy when it is on the way up than it is on the way down.
E( c( F& ]0 v9 W" R! M% w- ]For example, the condo average price is around $240,000 this March, now it is $270,000.
* k: ~5 ]9 X; {6 I* F% N! CSay, it is at its prime now even though there is no sign in the condo section yet. Can any body guess, when it will come down to $240,000.) {7 w/ g) A4 c' ~
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
$ A9 X$ ~) O" v6 dIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,$ T& _) x2 e6 _7 M
your mortgage interest rate may have reached 6%.; d8 E9 @! L" G h9 v
House market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate.
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0007 J# s) A3 v9 ? A6 N4 ]) M+ K i
if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same
; R' y2 r) E W+ J; t0 C. K# Qcondo with $1000/month rent) Total: $344,040
: v: b2 A& ~2 ~8 U) Fif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96007 l. Y! _/ n% M3 o) V/ c
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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So, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
7 s' H/ d" _& ~8 ]* W5 {4 ICannot it be $270,000? Cannot it be $280,000?
, c3 U% X: f: c$ z% t7 }" s5 p9 hSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
2 a2 K3 [: }( b5 D( [9 aFor me as a property investor, I will always tell everyboy, it is a good time to buy,& |8 @, I% g( c
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,$ B T) T+ t: n; D* x
then they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.3 T- O) Y: x- f, K" M
% O4 N, X$ M: Y5 r+ b$ UWell, we are human, we have it. |
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发表于 2007-10-13 10:58
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发表于 2007-10-13 22:39
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