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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.; I! z1 l* { x! A
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.* o0 r8 D) F: T d4 v+ w( W
It is always better to buy when it is on the way up than it is on the way down.6 ]$ w6 s3 l, ?+ b6 J
For example, the condo average price is around $240,000 this March, now it is $270,000.# j7 @2 n# `) w* B9 G! w- u
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 $240,000.2 r# [2 W( m# D, O) n- T8 d
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.! z$ b( M# a# {: {/ \
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,! R/ C# U, X2 M# e" z' H
your mortgage interest rate may have reached 6%.
$ S, L& F1 e z+ |6 o# \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.% i1 n/ M3 c! P7 w
; U: u: p; E: D- D- G; t5 M: GOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
& [9 K% M6 W% }% C! @2 Gif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same , K: u$ R2 y( [# _4 L, ]( Z
condo with $1000/month rent) Total: $344,040
8 o6 O8 _+ c- a* _& h! O) 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
3 Y! z! k* R! XWe 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 $240,000.0 R: O" ~$ x% p3 m1 P/ |
Cannot it be $270,000? Cannot it be $280,000?
2 A6 \4 n. J* A1 H* fSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.8 H5 z: W- i: x: V4 _2 G* o. n9 G
For me as a property investor, I will always tell everyboy, it is a good time to buy,1 s; b1 s3 b/ w! l2 [$ U7 g0 Z
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,$ U2 s( t1 p/ ?# q% O S
then they will switch to my line and try to "HouHou" to push the market up./ w/ J7 P ^- X9 v* r) |# F' D( C
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Human weakness./ B7 Q0 R) h z5 w, Q5 M2 v
! q0 E& o1 G" z. o5 I4 {! K5 eWell, 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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