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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 X8 Y. Y: r w: _
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.3 v4 ]( o2 w4 Q4 V7 F- ?7 H
It is always better to buy when it is on the way up than it is on the way down./ V# A/ I8 a; J* H* t9 E8 t" ]
For example, the condo average price is around $240,000 this March, now it is $270,000.1 J4 T$ n- j4 z; M, m
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 $240,000.# n: F1 @6 H5 G% c
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast." r* `! g, ?/ e2 n4 h
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
/ l) r9 P7 Z8 R8 R. @) cyour mortgage interest rate may have reached 6%.
1 M& ?8 \; H: Z! W: N$ k( 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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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000) c. l6 X3 ]: 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
; o3 A% S w" T: ]' ^) C/ Vcondo with $1000/month rent) Total: $344,040
; W0 d2 @, @6 E! o8 h4 g; iif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600& F4 r: p+ e1 \" n5 ~- N
We can see what is the best, when it is on its way up, worst?when it is prime(peak).7 ?3 v4 j) J0 H- F9 `$ v
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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 $240,000.
/ F7 m$ z5 K8 i; s6 C5 FCannot it be $270,000? Cannot it be $280,000?
D5 o( t" x2 b$ u1 oSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.8 X' [, }. e# O" e( n, t* Y
For me as a property investor, I will always tell everyboy, it is a good time to buy,) ]5 L% }9 M" z
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,
G% [0 d6 G( ~0 U3 g% lthen 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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