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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.
. o. |& I4 S, O$ z" f$ F. x# UHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.) P& j4 }/ r* G9 v. U$ n( s
It is always better to buy when it is on the way up than it is on the way down.1 w3 M* \5 r" A) M3 x1 m ^
For example, the condo average price is around $240,000 this March, now it is $270,000.: J% \- ~. O9 h. w: \5 ~/ {
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 $240,000.& e: k. Q8 [8 B9 W% ?! K- b2 ^6 Y
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.! Y( ?. z, S) ^2 } l' v
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
: v G! f2 \9 a- ^0 R0 yyour mortgage interest rate may have reached 6%.6 j% F8 q* J! g& I9 ]) K
House market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate.1 C/ e* [- s3 g+ {3 D4 o/ T$ ~/ B
# Z- _7 z1 g& s! EOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
4 `" y: p# g4 X% w6 a* W2 dif 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 ' z& q+ z D- M F. X* f4 j
condo with $1000/month rent) Total: $344,040
, J( P* n% @. A( Q( yif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600& Y3 F( [- I/ o
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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- Z5 F( r0 e5 U$ ySo, 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 a9 _' M& s0 q# y
Cannot it be $270,000? Cannot it be $280,000?) a9 t0 v/ g1 v- V2 \8 w
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.* s4 L; U, I3 \7 P2 n) v6 ?# G, \9 u
For me as a property investor, I will always tell everyboy, it is a good time to buy,
" J1 r8 F# N; n( J9 DFor 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,8 g- O# z4 q+ O
then they will switch to my line and try to "HouHou" to push the market up.
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# w4 I5 j% u: |6 h' i2 hHuman weakness.' J" x& ]3 j+ \
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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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