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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.
; S& q- S7 Y- WHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.& q! Z4 F2 F- ]
It is always better to buy when it is on the way up than it is on the way down.4 r0 g/ t2 }9 X0 S5 s
For example, the condo average price is around $240,000 this March, now it is $270,000.
$ ~. V/ _% K" o7 L% qSay, 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 $240,000." V# V& F( N( \* }' w2 a+ {% f
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.% ]: m6 u9 F0 Q$ q- C& c
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 ~# }4 k, E" u1 @; q
your mortgage interest rate may have reached 6%.
7 ~/ j) j4 x) s& G# 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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/ q( Z# j+ a! m3 k9 MOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
2 b7 a! J: x1 y9 `6 n7 a6 ~ t8 oif 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
& j6 I0 H" C# J: k6 Tcondo with $1000/month rent) Total: $344,040+ b8 }0 V) f4 `2 w- |6 n% m
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
+ W1 z8 U. @8 x7 Y5 W7 ]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.# ~8 M: T& j# L) ]! d1 w
Cannot it be $270,000? Cannot it be $280,000?& u) D4 m+ E9 I/ l) ~
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine. M& Y& T) s0 I6 }: ~+ O7 F( @* r
For me as a property investor, I will always tell everyboy, it is a good time to buy,
. @ [; P* V w2 g$ O1 k* ]: ]$ 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,% _3 G/ v) n2 D0 c3 c: S+ U/ v
then they will switch to my line and try to "HouHou" to push the market up.+ Z. G. a2 \3 {) k
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Human weakness., Z0 n# Q; N# T1 q# A$ a9 G
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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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