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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 V: ?% A- o6 ?/ _9 i5 R
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.6 i0 t& n# V8 |5 p, e" j" x& ?
It is always better to buy when it is on the way up than it is on the way down.
. p" m2 O* x6 T$ i( M! tFor example, the condo average price is around $240,000 this March, now it is $270,000.) _: i0 S. D% r9 W- K; }! }
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.
9 }/ [0 S4 v" D( u) c4 SI 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. R \: _, I/ f. V2 {
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,
# _9 b4 N; m* y5 ryour mortgage interest rate may have reached 6%.
/ s* V o; T( ^% x( UHouse 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
+ v2 S/ S% o. s) ?9 ^ Z5 Aif 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 . u% Q1 d& ]: m; G" V3 W4 B5 E
condo with $1000/month rent) Total: $344,040+ Q- }6 O" L) d6 [6 ~
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96001 F3 V4 ~+ M2 j0 m/ _! 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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: S. [7 n0 {3 j: bSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.( i4 D0 l9 N1 x7 T% C' B6 C+ O" [
Cannot it be $270,000? Cannot it be $280,000?0 a1 N3 v# w; i% c
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
- h4 p }/ G8 q9 Q* h1 y# H7 |For me as a property investor, I will always tell everyboy, it is a good time to buy,6 x+ X3 B2 ^8 `+ s
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,, l7 v8 |" t: c% @) g8 h
then they will switch to my line and try to "HouHou" to push the market up.) e- E& F/ G: D* a- S
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Human weakness.
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; e `1 O# M5 z5 j. s8 M) A, qWell, 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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