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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.
3 a2 }. g* q8 M3 B+ Z1 m( |: a. PHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.# z/ r a$ x% O! o% Y( o- ~
It is always better to buy when it is on the way up than it is on the way down.
# s# o$ E, x% L+ d3 ?) h. fFor example, the condo average price is around $240,000 this March, now it is $270,000.. c3 ?. u) y2 K+ T$ b/ r; L
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 $240,000.4 N, P6 E" s3 H+ w
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.2 _- ]% M# p6 l) 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,
6 h- W. q1 |1 ~7 xyour mortgage interest rate may have reached 6%.
6 q" {# R5 l0 L' t& }) DHouse 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.) e: I- V" ?. B
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000" r; i' P$ m5 ]1 V
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
8 M: r8 L* F" I8 D9 o" Xcondo with $1000/month rent) Total: $344,040
+ |6 X# n' J2 T4 xif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600; S/ ~$ C* w2 l$ @
We can see what is the best, when it is on its way up, worst?when it is prime(peak).: i) B, X0 S3 ~; F
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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.
* v* a& Y9 t+ i- ^) l8 BCannot it be $270,000? Cannot it be $280,000?$ J; E K- \3 G" L' f: P) Z0 M
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
( j0 t2 a% k3 C3 k" o2 yFor me as a property investor, I will always tell everyboy, it is a good time to buy,4 `; j% E5 R- m1 G, H9 d
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,* s; Y; ]) U, V! k
then they will switch to my line and try to "HouHou" to push the market up.+ W$ c' o3 _0 p9 Y) A( l# |4 s5 Q
0 u* H% v4 R, @Human weakness.
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. ?- b! x# P) SWell, 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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