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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 }& Q8 T- j% k3 BHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.' H/ w$ o% Q4 @& }
It is always better to buy when it is on the way up than it is on the way down.1 h C2 T5 v% c& }; N% c0 }
For example, the condo average price is around $240,000 this March, now it is $270,000./ f% O( h% S2 x7 P! H0 d
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 $240,000.' q$ F z v" n1 p8 Z( o
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.
% F' v" y" _0 J/ ^# G- M N7 \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,) A5 y) y) W0 o N+ K7 [
your mortgage interest rate may have reached 6%.' n* G9 }/ b, p8 g1 P/ N
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:$300,0000 X6 }8 R: R9 J) v2 c$ m3 I4 i
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
- w9 w. X" o+ ?. {9 M+ x5 M6 gcondo with $1000/month rent) Total: $344,040: I% K1 T( q9 s+ N9 z" G& ~8 C& Z* Y9 r
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96006 u0 O! P) Y) C/ X! `! c
We can see what is the best, when it is on its way up, worst?when it is prime(peak).6 a5 \' k" J' }2 p2 W
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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.* O! `9 x* I8 U9 i/ y+ d
Cannot it be $270,000? Cannot it be $280,000?
( S& a$ Y8 c* c/ SSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.8 `2 P/ A' n4 {1 O3 @ a
For me as a property investor, I will always tell everyboy, it is a good time to buy,
5 ?$ {& p% j8 eFor 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,
3 Z0 n# r& |) s1 ]' }then they will switch to my line and try to "HouHou" to push the market up.- ~4 b( Y2 ^0 }. y0 K% y
) q$ z3 Z: a8 D+ i' SHuman weakness.
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Well, we are human, we have it. |
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狗仔卡
发表于 2007-10-13 10:58
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发表于 2007-10-13 22:39
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