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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.
' O$ h% H7 O3 I6 O3 J LHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
7 b. B$ C V+ C5 }- ], OIt is always better to buy when it is on the way up than it is on the way down.
$ P& s& L v; I! _1 i. ], TFor example, the condo average price is around $240,000 this March, now it is $270,000.
. H( T; Y* L9 {. H6 y$ {7 [1 W. P2 X2 KSay, 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.& l a! \ c; x" U1 _
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.' d5 `% `4 |: Q0 `; y& _ T
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,
' [# U6 e/ }7 C+ v( ~& a; fyour mortgage interest rate may have reached 6%.1 h0 Y* d& A+ I& u+ E! Y
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.: [2 ^" j8 d- \# i6 y9 }
) t3 s/ ]4 ~5 y4 r: dOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000: Z% C! g% E' z. W, f
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
' R8 y/ [6 e3 u. U. K4 pcondo with $1000/month rent) Total: $344,040
* N1 o X: o+ T( }if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
* `0 k1 }9 Q+ U' m4 EWe 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 $240,000.
- H$ `$ q1 Z. ?. Z3 ]9 ?Cannot it be $270,000? Cannot it be $280,000?% R2 t6 `; W* {
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
2 ?7 Q1 h( j, t$ X4 j i: C1 _For me as a property investor, I will always tell everyboy, it is a good time to buy,8 i" K3 B0 P' z/ m
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,% y/ P/ J! m4 I- Z
then they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.9 W2 O' U6 q2 T
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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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