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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.
0 t0 i4 N% f$ c; l; U7 VHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
; K b* n' H, Q- z3 x8 d9 q9 GIt is always better to buy when it is on the way up than it is on the way down.
% n' G: _$ B! `9 \: k9 S/ x8 F2 eFor example, the condo average price is around $240,000 this March, now it is $270,000.
% P! w2 t. |+ ]' a" |! R5 C+ p( DSay, 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 $240,000.
f3 F7 a( ?) _$ }2 pI 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.) u8 x1 \+ I& t% s7 M
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,/ _$ `9 L+ w! S6 h7 ~. O! x9 a( y
your mortgage interest rate may have reached 6%.
, Y( x3 {8 d# W0 ?/ uHouse 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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9 D7 X, h3 `# POK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
! h" o& K+ O* bif 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 6 R% r" f, e& N4 x* w7 K/ W
condo with $1000/month rent) Total: $344,040$ `* W" a: w/ \/ O1 r, ~) v
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600" n% N0 h$ {! m. J% U* V
We can see what is the best, when it is on its way up, worst?when it is prime(peak).7 x+ b3 W C' X
r' U0 z/ x/ X9 O4 Q9 v; }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.
0 m G' w @" C; ~Cannot it be $270,000? Cannot it be $280,000?- M7 w% T! J$ k1 T4 b
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.6 q! a8 x* z7 Q: ^" o, i* d$ I9 C
For me as a property investor, I will always tell everyboy, it is a good time to buy,
* A7 Y* z; Q# PFor 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,
- ~5 Y$ H7 \" u* y: gthen they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.0 z8 X6 \, k+ s. n8 p [6 k/ L
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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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