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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.1 E$ e0 \# q2 e( G' ^6 F8 M& ^0 ~
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.- ^: ~0 l2 @3 s& f! V, P
It is always better to buy when it is on the way up than it is on the way down.
5 `/ J! q/ u- X& ] n7 `2 P# SFor example, the condo average price is around $240,000 this March, now it is $270,000.+ b3 d' B' n+ |: b( A9 Z) Y
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 $240,000.
% n7 a8 e! i2 U4 l' H& V- N9 n' QI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
[" Y7 r! T5 V% M; m$ Y3 S! \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,
' `6 `. N- j" ?5 w1 K. t0 Q+ Myour mortgage interest rate may have reached 6%.
1 F. o$ y+ o# q! f* U- GHouse 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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4 A7 N3 E( Z4 k* z: w* W. B4 fOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
! q8 s3 ]4 q3 b2 T* s3 K! Iif 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 , w/ j& A8 u8 l" }
condo with $1000/month rent) Total: $344,040
7 P2 v- n' U+ I4 Dif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
1 l U7 K. ]4 a" \ jWe can see what is the best, when it is on its way up, worst?when it is prime(peak).3 T* Y" g" D. R! }% r2 i
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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 $240,000.
4 {6 p( U2 D8 y. V# P% U$ x& ECannot it be $270,000? Cannot it be $280,000?
. y3 V' g% V- b) R' }/ DSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine." w5 Y t! c1 H9 K9 G* A
For me as a property investor, I will always tell everyboy, it is a good time to buy,
( v# \5 L9 D- @; |8 D- vFor those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,
' k/ L# d3 k m2 C4 ~0 d2 I: {then they will switch to my line and try to "HouHou" to push the market up./ x$ I" V( s- E2 e7 j
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Human weakness.; q' S7 M/ ]8 w
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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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