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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.
7 F2 r. M- n. p6 rHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year." z: t0 C7 n' I2 g6 e
It is always better to buy when it is on the way up than it is on the way down.- A1 p r7 T* e) E
For example, the condo average price is around $240,000 this March, now it is $270,000.
6 E& x) q0 p. P8 ]. ?! V& W& tSay, 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 $240,000.9 A8 _: T/ J8 X0 n* V: R3 g
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 {4 b# v; \$ {! b7 B
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,/ D* P- d1 ?( d/ H* \, f" g/ v
your mortgage interest rate may have reached 6%./ g) W k h4 T2 B" U' i
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
8 G" t _& `4 R) D" N3 L; Qif 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 7 ]9 O" B7 k0 ~8 b9 ~
condo with $1000/month rent) Total: $344,040' l: t' n; u/ l b! I+ g$ E
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96008 B) b7 D* m7 Y* H- Y9 ~
We can see what is the best, when it is on its way up, worst?when it is prime(peak).6 G4 ~) v8 a4 c4 G! U
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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 $240,000.3 g3 {! a6 F! ^* t
Cannot it be $270,000? Cannot it be $280,000?' n1 g: p7 e' G2 J0 u5 e0 O
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.3 U o4 K' T' z
For me as a property investor, I will always tell everyboy, it is a good time to buy,. v% G# D4 `' n1 k
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,+ `$ Y1 Z. _. t- w7 a3 I1 C
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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