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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.
7 G: {# ~6 ?$ @* [" kHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
0 w z3 A9 Y0 U0 w) b6 @It is always better to buy when it is on the way up than it is on the way down.
- N) C, F/ g3 q) JFor example, the condo average price is around $240,000 this March, now it is $270,000.
" r* U( M! L6 ^) `# i. WSay, 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.% ]; X0 o! }; N( \* s& |! X1 _8 e
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.
* v9 V. S( ^ oIf 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 Y; Q2 f3 ]5 L/ d0 \0 y
your mortgage interest rate may have reached 6%.
6 X8 j5 w* E- }2 pHouse 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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. S4 y. c* R) R4 b* F+ V0 y7 l. FOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000/ |8 @) O/ a- B6 |0 O6 \
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
* p* ~: ~! v: z }2 |" |4 Ycondo with $1000/month rent) Total: $344,040* J2 K0 E, D0 q4 r
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
/ h0 b7 N" P2 P% I4 N" w$ SWe 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 $240,000.5 ^2 s) j# k- l: C6 z
Cannot it be $270,000? Cannot it be $280,000?& u. h/ b0 C: }( w) Y4 m: A1 Z
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
6 \7 f; J1 Y8 m6 h* T$ dFor me as a property investor, I will always tell everyboy, it is a good time to buy,
6 t* U! _7 |) F9 ^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,& S; a4 o$ A) {) U: Q7 \
then they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.4 u0 H2 s4 e y5 }
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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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