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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.4 W0 H* T% X' R: i8 v' H' x5 M
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
7 T0 g4 M$ c M3 CIt is always better to buy when it is on the way up than it is on the way down.$ w3 w4 y& f% h7 T1 `( D
For example, the condo average price is around $240,000 this March, now it is $270,000.
, Q% \) g/ e# V7 a, K3 H0 bSay, 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 $240,000.: S; K# F7 O) t) V
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
/ ]8 e2 O7 i% P% w+ i9 MIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,1 c* w: I* }. B$ }6 k
your mortgage interest rate may have reached 6%./ m' h5 M0 J* K$ f# a' b
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.5 t$ ] a0 ^0 J) e/ C
7 l, C8 E0 ?# H8 F1 MOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0000 F6 m. _- x! r
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
$ @+ L8 O7 O5 Z6 U4 Y Jcondo with $1000/month rent) Total: $344,040" b' S. C2 j6 R: q* k
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600; X" X% c% Y. V9 }2 p# w$ W
We can see what is the best, when it is on its way up, worst?when it is prime(peak). {4 K$ a+ |1 z' m9 N
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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 $240,000.. g4 W5 I" D2 i$ ~% S" ]7 N5 x
Cannot it be $270,000? Cannot it be $280,000?' d* x& B7 V9 Q
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
3 t4 K0 W& B$ o! m. D/ {: OFor me as a property investor, I will always tell everyboy, it is a good time to buy,
( a+ j, G$ v$ A6 x# s3 [For 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,! m2 L* p: O8 |. I
then they will switch to my line and try to "HouHou" to push the market up." c: S7 Z/ w6 N8 }
0 ~' Q9 K. N+ P5 a5 L& }8 A- hHuman weakness.
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) H6 j$ {) [6 ^. }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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