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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.+ l2 l& i" Y, s- ?0 Z
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.. e' o; D1 i( K& ]/ V( h
It is always better to buy when it is on the way up than it is on the way down.
' J8 W! X5 o* sFor example, the condo average price is around $240,000 this March, now it is $270,000./ V2 s9 X2 Q) u, r; E/ 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 $240,000.
1 g3 [& u U6 d( p) @3 ~I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.' L3 X: B0 a# }
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
0 w) T( N( W; O$ m. `your mortgage interest rate may have reached 6%.1 i J/ g3 v4 j( V1 C: C: m
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
: g# j1 m% g; E {( bif 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
x! G4 h, G. V% c( pcondo with $1000/month rent) Total: $344,0409 ^7 R: z f# k, ~+ c) C' }
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
' {: s% S6 [/ d' W+ tWe 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.
$ N5 d% N1 k5 I* b$ q( [Cannot it be $270,000? Cannot it be $280,000?& A. g1 u! k5 }: [( ~
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
) U: d, G# s& K( W4 ^For me as a property investor, I will always tell everyboy, it is a good time to buy,5 t4 e: G+ C, | H
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,) [9 R( O, i% [8 c4 L, q
then they will switch to my line and try to "HouHou" to push the market up. Y7 }2 ]- ^1 V3 j ~. k
5 H& k4 o8 v4 R2 H$ q6 |Human 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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