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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.: ~" K9 O( r2 h* i8 }! g& _4 f
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
. K( a" T/ V2 s# SIt is always better to buy when it is on the way up than it is on the way down.
0 {& R' P& ^. h' f# y0 \% GFor example, the condo average price is around $240,000 this March, now it is $270,000.1 \+ k% c) r2 z9 b
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 $240,000.# l1 V9 B; J( O# r! z
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
0 \+ ~8 q$ p3 f3 ^" D X" JIf 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,( {9 p5 w% M3 s3 `2 ?
your mortgage interest rate may have reached 6%.: X/ {2 w2 K4 O& 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:$300,000( c% S$ X# R. v& ?
if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same 5 t3 _7 D+ W& Q4 r$ Z% N
condo with $1000/month rent) Total: $344,040% w; ?, }. Y8 C
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600( c' ~+ D2 r2 ^$ b, I0 H, t6 f
We can see what is the best, when it is on its way up, worst?when it is prime(peak)./ v2 V% F; E+ L9 {& R& [5 W
- _, I$ }& h. d$ |! R t7 w5 ?6 ^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.) x' l1 q4 r, A
Cannot it be $270,000? Cannot it be $280,000?
6 q1 n9 U1 E, {! N! dSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
2 L* n! I. x4 x' L: VFor me as a property investor, I will always tell everyboy, it is a good time to buy,
Y7 E& p3 c# C4 tFor 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,7 y; B' _0 ^# Y4 r
then they will switch to my line and try to "HouHou" to push the market up. J1 a3 y( |2 W; p
4 Y8 \4 Y6 ]! dHuman weakness.1 q% c, ]5 k* X4 g6 P
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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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