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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.
5 V3 Q: u; C' M/ ~4 m( F" V- hHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.1 N# k$ V' j' g& M; F
It is always better to buy when it is on the way up than it is on the way down.5 m/ b! r7 G1 ]9 W; V$ A+ t, i
For example, the condo average price is around $240,000 this March, now it is $270,000.
$ g* G% ]& x9 B& C3 G; uSay, 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.
9 T! b2 B4 Z+ q: [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 L( O& v) N; V4 GIf 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,
+ S* K# G, l3 t" vyour mortgage interest rate may have reached 6%.1 x% @3 N6 c* 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.
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0003 a: }. G! i* f$ l7 ~ v4 d) E
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
' l( X. ^9 w3 s2 V4 M1 Scondo with $1000/month rent) Total: $344,040
5 `' k$ d, B- i$ J) g( l% {0 c gif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600$ R; d ]5 s) c2 S- g
We can see what is the best, when it is on its way up, worst?when it is prime(peak).$ h. E7 ~+ S* n2 W4 e" @" }% V
) a1 _4 u& b5 s7 K* i' hSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
4 Y6 y" @' A& A! p$ [Cannot it be $270,000? Cannot it be $280,000?9 @7 i" K- G; z. f2 g% @. ?
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.9 S: x) Y6 r- A; y1 s" c/ V
For me as a property investor, I will always tell everyboy, it is a good time to buy,, E8 a6 b% @7 f
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,
( @# v# X _* M6 V! h) pthen they will switch to my line and try to "HouHou" to push the market up.
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4 T9 }/ B7 p4 K4 sHuman weakness.
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Well, we are human, we have it. |
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狗仔卡
发表于 2007-10-13 10:58
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发表于 2007-10-13 22:39
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