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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.0 q; ?0 n H/ B+ |- T) T
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.3 P+ o; Y* p0 H# m# f
It is always better to buy when it is on the way up than it is on the way down.
0 o, ^3 e8 u4 W8 SFor example, the condo average price is around $240,000 this March, now it is $270,000.
0 K1 i8 l1 ?& ] h5 R; wSay, 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 $240,000.6 y: U0 e7 C# H) C/ \
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.: D/ J6 w1 W, X [4 }
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,* a* c3 i+ h5 q9 s: H$ |! X
your mortgage interest rate may have reached 6%.
- k% o5 K6 b. @' PHouse 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:$300,000& x. \! r- S5 Y1 C' l
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 " |: ~! E; K: y- m
condo with $1000/month rent) Total: $344,0400 Z7 U3 _6 ~- M k% `3 |1 Y
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
# m0 P, c% p9 Q7 y$ r; n- iWe can see what is the best, when it is on its way up, worst?when it is prime(peak).+ \1 S& C, ^! ]- t" `$ f
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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.! c0 B3 F0 z4 x
Cannot it be $270,000? Cannot it be $280,000?' {: R$ d' L! z. [, N2 c2 t1 H
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.: y0 Z4 E$ f+ D# N7 b' i
For me as a property investor, I will always tell everyboy, it is a good time to buy,
b& M2 B- f) ?0 U2 HFor 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,2 b: ^6 Z) w( c" }4 a
then they will switch to my line and try to "HouHou" to push the market up.9 _) s, l* [* a% G: j* M9 c |
, q, l' x9 T: K* S& nHuman weakness.
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8 V' s v" I5 {! t& \7 w5 y- h7 nWell, 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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