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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.
- j) J) ~0 l% q0 [3 E; _7 ?However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.6 b# Y( i; t* y+ |2 x
It is always better to buy when it is on the way up than it is on the way down.2 g* X! b) Y1 S' p- ], H; O- X
For example, the condo average price is around $240,000 this March, now it is $270,000.
/ {- l# y0 E& s$ nSay, 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 $240,000.: i* j& u5 s) x5 C: T
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
- a2 p* d. \ k- O/ LIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,* S X- C4 e6 l- U4 W# ^
your mortgage interest rate may have reached 6%.
3 T$ O3 X" h% l* u/ b. CHouse 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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) Q0 _: e" U9 G- l' m- ?OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0004 z+ x2 q/ Y/ N1 Z
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 f, S, E# H; e" N
condo with $1000/month rent) Total: $344,040
4 s' w/ t; H# g! H/ }if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
2 h3 n* J" K" s# U- ~5 ^* bWe 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.
- P% U, q0 X1 b6 v7 m, E7 PCannot it be $270,000? Cannot it be $280,000?
4 x2 q% L( Y( h6 X% w0 m+ m. YSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
! }$ g+ Y2 t0 p1 ~8 K/ E- ]. IFor me as a property investor, I will always tell everyboy, it is a good time to buy,
( B I! w0 c' `* X eFor 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,) k. _# ]/ C3 M# S( d6 ]* ?1 c
then they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.+ f `+ e7 d; o. N) v
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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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