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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.3 n6 M/ x" M4 E% s2 Z
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
# j4 I. e& [6 D4 {9 x6 tIt is always better to buy when it is on the way up than it is on the way down.9 B2 p$ x; b6 N. t8 z. S
For example, the condo average price is around $240,000 this March, now it is $270,000.3 d" _4 @0 r0 g O1 I" G( w
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 $240,000.
: i( W' l8 W* m/ ]: {' tI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.( X$ l# h' K1 U2 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,& X% `0 q5 }5 ?2 N" ?* ~1 n1 X2 ~4 T
your mortgage interest rate may have reached 6%.
) ]) ^6 m( O9 e* Q- xHouse 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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' o- z" |* P5 ]* MOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
' P. V5 h. \; Rif 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 3 C4 P' _. W, V u+ W
condo with $1000/month rent) Total: $344,040
; Z$ z1 r2 @* Z8 dif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96007 U, R4 G+ t% u4 l
We 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 $240,000.2 ^ }: e; c, s( S
Cannot it be $270,000? Cannot it be $280,000?# z$ J& [. J$ \; j6 r) C
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.' C2 K3 T3 J3 @) p9 E
For me as a property investor, I will always tell everyboy, it is a good time to buy,( V# d; Y& m- E" P4 ]8 W; D
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,0 s9 j3 A+ ?- ~% A* e j
then they will switch to my line and try to "HouHou" to push the market up.
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- X1 \" @, L! |! \2 P. `6 w( gHuman weakness.3 w8 b$ o: t$ _, R6 B; @
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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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