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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.
w3 S# j% v5 q4 |1 S+ ~1 q( pHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.# ~4 z0 B7 B8 Q1 f, ~
It is always better to buy when it is on the way up than it is on the way down.( X* c; s. Y/ {: g0 a
For example, the condo average price is around $240,000 this March, now it is $270,000.# H5 l) C7 q$ y3 t; X* K. A
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 $240,000.4 n1 b4 N# k) 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.# i* p& J4 t, ^) A
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 g* C0 X6 N' O
your mortgage interest rate may have reached 6%.
; S+ t6 T4 F* d: U: ~) qHouse 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
0 Q" J7 H1 H7 ]# L7 p3 Z7 D) _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
$ A6 ], O: S" w! vcondo with $1000/month rent) Total: $344,0401 e: p: _8 ]& X+ e2 }
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600& q; P% y- J6 U' j% R
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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" U1 _5 X% \: eSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.! W$ D( X7 d" B6 o. e$ o6 S
Cannot it be $270,000? Cannot it be $280,000?) J9 U1 J2 j/ V
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
1 b! L Z. ~; K& \For me as a property investor, I will always tell everyboy, it is a good time to buy,
$ }% h" J$ Q9 Z- |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,
6 _; _2 K! C: B& xthen they will switch to my line and try to "HouHou" to push the market up.0 A- z; l) [2 O# J+ b( c; S
# _5 X. C. J$ h, M! T9 v4 yHuman weakness.
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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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