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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.; N3 h9 t/ S. Z% y# _0 E
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
, }: g/ J/ ?/ a: gIt is always better to buy when it is on the way up than it is on the way down.
* Z0 b8 ?* }! z4 DFor example, the condo average price is around $240,000 this March, now it is $270,000.$ ]4 w9 ?" \. J# ^! J2 }& f1 O0 y4 O
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 $240,000.& M; }% z6 E9 G5 y: D7 M/ D
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.7 h0 ^: P8 e- _' N) ~
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
7 m D$ S+ \. F6 }: t+ \* m% G% fyour mortgage interest rate may have reached 6%.4 T9 A# Y8 s/ o* g, j z. z: 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.
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3 V6 Z0 f% n2 _) T3 K" I. zOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
) E7 l Q. J: Y( Fif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same . ^$ a( q7 B6 K* i$ d1 E: z+ g; R u# [) g+ h
condo with $1000/month rent) Total: $344,040
" f' Z0 D7 N9 g* H, @: v) A, zif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
) | Z( }- Q3 @+ ?: o1 n" N8 zWe 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.
% P# g) N d Z' d: ]Cannot it be $270,000? Cannot it be $280,000?3 ]- q* r/ b7 ]) h b5 M
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
& K2 w! u. ^/ r0 nFor me as a property investor, I will always tell everyboy, it is a good time to buy,
$ r5 E! V. o% e0 V: G' k7 i# x8 ^3 ~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,
" f- r" { Z3 jthen they will switch to my line and try to "HouHou" to push the market up.% E! j* x6 T# r( C d4 Q
: w5 H* `& D3 V+ j9 N* x) m/ LHuman 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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