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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.
& Q: @& y7 ~, j5 V4 _; |However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.5 L5 A0 U2 p0 B' e4 r3 V+ g
It is always better to buy when it is on the way up than it is on the way down.& Q% [! C( Q0 a2 G2 g
For example, the condo average price is around $240,000 this March, now it is $270,000.# t# r9 Z* t' o9 ~0 c% a! u
Say, 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 $240,000.. q% u# a% l( @0 l5 U
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.0 i5 T* g2 s" z! _
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
6 Y( O; e! q* U! } M. @your mortgage interest rate may have reached 6%.
1 P* x: o9 q' E: dHouse market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate.' Y$ ] Y/ I% l; ?" G
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
+ n7 F' c8 N+ e7 S# |, X8 n- [if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same " O. d. h' }% x$ I5 F
condo with $1000/month rent) Total: $344,040/ k% Q/ p w# D2 L/ f/ ~5 b
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600& @3 r) U* T5 E/ j" L4 {! a
We can see what is the best, when it is on its way up, worst?when it is prime(peak).* E1 Y3 ]& k8 Y% A" F6 G, C% q3 B: K
0 m" ?- B1 s6 L, s* ~8 v+ P6 O, PSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000. o, ]6 p3 S" P! B
Cannot it be $270,000? Cannot it be $280,000?( ?1 ~1 `7 B. p
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
2 O- U; p$ v/ F! |0 d$ YFor me as a property investor, I will always tell everyboy, it is a good time to buy,
3 s ~: r5 y% R) k8 S+ N ~2 z+ S3 m# LFor 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,2 h) n8 t/ m% c3 f3 m8 [8 m7 ~
then they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.
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Well, 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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