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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.$ a; r. R( a8 L8 s8 c
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
8 Q9 ^$ K9 S7 U) l7 e4 y& |6 Z2 BIt is always better to buy when it is on the way up than it is on the way down.
4 y' ]3 L$ } DFor example, the condo average price is around $240,000 this March, now it is $270,000.$ `$ a# L+ k/ \) \8 P: j2 Y4 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 $240,000.' I) ]+ U$ n9 N+ b% m3 w$ W
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.
/ K6 a7 N& e" w; Z0 bIf 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,
$ R% A+ ] _: ?) qyour mortgage interest rate may have reached 6%.1 G. e1 d3 n5 z
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. e" Q+ B% j& G9 ^7 `4 R4 b" g
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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
/ ~6 U5 ~9 X. r) s. wif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same & Y$ {- E$ \; x3 D1 O# O' E1 N0 o
condo with $1000/month rent) Total: $344,0406 v! e: g6 _+ |0 x+ E
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96000 z: ^8 J1 I: X m- m: @3 V- P, @
We can see what is the best, when it is on its way up, worst?when it is prime(peak).( ~7 f/ Z: [2 P( K: T3 A$ }7 a
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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.: g- w- v, X- D( a
Cannot it be $270,000? Cannot it be $280,000?$ a/ Z7 }! Z1 ]% X
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
, B7 f# a0 w g$ p# `For me as a property investor, I will always tell everyboy, it is a good time to buy,
, n: x! l- Y# V5 Z8 Y4 aFor 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 e& h$ \% N1 ~- H" }then they will switch to my line and try to "HouHou" to push the market up.
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6 U. m' J6 a: x4 q& | N0 m9 oHuman weakness.2 ]* T/ @- ~) p7 C. g; g1 |
: c3 b9 f7 X) l; GWell, 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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