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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.
. e. k6 i# {6 [( f7 t: K5 M4 l* M: y2 QHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.% v9 P( }( l& Z3 `2 U' R, s
It is always better to buy when it is on the way up than it is on the way down.$ Y& p0 U/ q) d( K* A- ]
For example, the condo average price is around $240,000 this March, now it is $270,000.# E$ \3 K6 X; h: `
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 $240,000.6 `" w/ o, [8 I, H f; n% 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.4 x7 o" h0 `9 V/ ^# s# k
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,
2 d2 }3 j- }; L7 [1 j* R9 z5 S4 Oyour mortgage interest rate may have reached 6%.1 G1 \- D# L5 ~* c6 [
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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# w; H- H# u* x- XOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
! n5 V2 K0 b# J: k8 Gif 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 ! e; ~9 U3 P# ^( |* ]8 P
condo with $1000/month rent) Total: $344,040& q q. e+ k3 J2 V5 F4 N
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
# c3 U3 }5 O! J( b% P, |! j. g* [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.; _- t9 g8 e- X0 C
Cannot it be $270,000? Cannot it be $280,000?
+ V4 K, ^7 Z, r2 }+ ]1 p& iSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.) s- K5 L$ d, J4 g
For me as a property investor, I will always tell everyboy, it is a good time to buy,
- P, h; z) m2 fFor 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,7 k% h. T$ u# b. U
then they will switch to my line and try to "HouHou" to push the market up.
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5 q" b: j4 a1 x& VHuman weakness./ z, `" L5 P7 i2 S7 C
2 g3 {" b* Y9 L7 l8 yWell, 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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