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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.; g! T5 C7 w1 h! O
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
1 f% u# G: V# U7 J+ OIt is always better to buy when it is on the way up than it is on the way down.
% q" X! k" |. w+ {1 r3 z9 \4 zFor example, the condo average price is around $240,000 this March, now it is $270,000.
3 M S1 R, y0 w7 J$ x2 lSay, 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 $240,000.
) v' i$ d4 Q# U4 J( AI 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 v3 K3 t3 ~6 U# DIf 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,
" q8 ^1 U+ P3 t) R& ?0 g Syour mortgage interest rate may have reached 6%.; E: s) Z! X' {3 F5 q% z( ?
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.
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000, X( x3 B) ]" T, Z9 V, }+ n
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 ( u5 P6 D6 ?% C9 Z: x9 t
condo with $1000/month rent) Total: $344,040; U! r2 ]) ^2 L- p+ ], I
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
8 z" c7 }0 V" q% D% SWe 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.
, N1 [7 R7 r9 I: I" rCannot it be $270,000? Cannot it be $280,000?
5 l, V# a$ i; K& P; c* d$ `So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.' m+ s8 V# d) |, t" N k
For me as a property investor, I will always tell everyboy, it is a good time to buy,. ] J$ r5 {# n5 s2 |$ {
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,6 n# `- Z" f+ P1 I
then they will switch to my line and try to "HouHou" to push the market up.6 B. a/ T/ j) b" I! w. \
$ E$ B: Z/ z, I% Y$ p1 |- YHuman weakness.9 T! R: [( l7 [6 C8 y
8 n4 \, e- R; O$ b; }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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