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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.3 Q# n$ y2 C% O/ |& H
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
* J9 a C. n5 J7 M5 _It is always better to buy when it is on the way up than it is on the way down., e7 R# g3 O4 r! g% b2 h
For example, the condo average price is around $240,000 this March, now it is $270,000.# M* \/ i% i1 m; I, L
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.) l# v# `% o- o6 N! h
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.
1 H- W% a9 n6 M# w. ~1 QIf 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 G v6 w) P9 ?' x8 Lyour mortgage interest rate may have reached 6%.
: E) \* N% y5 S7 K+ AHouse 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 r) o( ?: t) \* v# A4 n& N9 c1 a# [; b
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 # U, x1 T+ s* P7 A3 n9 Q: e& B8 o7 U% b
condo with $1000/month rent) Total: $344,0400 @2 S9 n* p, ?0 }( L- o
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
; m3 H; Q& X# V9 U9 k% D4 A( bWe can see what is the best, when it is on its way up, worst?when it is prime(peak).( n8 X7 }9 I: R6 P
" \) M, k% Y0 M6 i/ tSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
: L" f; m8 y1 k( m" q; lCannot it be $270,000? Cannot it be $280,000? S( O5 q( h( x0 Q8 E$ w
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.* v3 V. f/ B4 f3 R0 P0 w
For me as a property investor, I will always tell everyboy, it is a good time to buy,
" N0 y1 J4 l3 F4 y, \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,( [, `% K. o( w* s" g+ n8 y
then they will switch to my line and try to "HouHou" to push the market up.5 \% |9 |; Y- j3 E' W
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Human weakness.
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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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