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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.; r% a2 b2 s/ t% V2 W
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
! y( F1 Y% V" aIt is always better to buy when it is on the way up than it is on the way down.; w) n# P( F0 j5 d
For example, the condo average price is around $240,000 this March, now it is $270,000.) ~! ?, I1 m& D% x, [& R
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 $240,000.
& [5 J/ ?0 n! ~+ Q3 x1 G+ F3 q! QI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.9 `% m6 i, ]+ R1 y2 }" K, J
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
. E/ ^; C7 n- E. s- z3 i& fyour mortgage interest rate may have reached 6%.# h: c6 @$ ]0 J. ]( G% D9 k3 F
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.: Y- v& E3 Y1 {1 [; @1 C8 _
: |+ s$ u1 X# { k+ UOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
4 B: U: O: d0 U5 w) O C6 J7 kif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same
# D, r. \. L$ Z. Fcondo with $1000/month rent) Total: $344,0401 v# Z( R t) m) C& f$ w
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96000 C* N8 C1 G# B" K; m
We can see what is the best, when it is on its way up, worst?when it is prime(peak).' F0 D2 n s, M
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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 $240,000.
' a, ]) Z v# b( \4 r' Z' T& N$ rCannot it be $270,000? Cannot it be $280,000?# d6 Z2 K; Q3 t, C0 n' J% b0 R! H
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.- c: H! ^8 v _' u( A) h/ y
For me as a property investor, I will always tell everyboy, it is a good time to buy,
3 M4 t. r, Y0 a5 i1 kFor those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,; i/ l. J. k b/ X9 ?; V& S6 N
then they will switch to my line and try to "HouHou" to push the market up./ A6 e5 q1 d. ~+ a8 M3 }+ \8 r, X z
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Human weakness.# Z2 e! k, G; E B3 y2 h" Y
' o( R- [# [4 {+ C8 W/ j$ q8 mWell, 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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