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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.
) M7 S* ~. Y" v% }5 n$ G0 d7 xHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
: t9 G! a9 b, lIt is always better to buy when it is on the way up than it is on the way down.* {9 W7 O4 d. w
For example, the condo average price is around $240,000 this March, now it is $270,000.7 u) v2 \. e! e. r$ y+ s. M
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 $240,000.
# N3 o/ R- y ]I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
' A# B8 W9 U: d/ v. YIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,# O1 L6 n5 A' \2 ^# q
your mortgage interest rate may have reached 6%.9 ]1 Z$ w6 F, J, O
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
" A3 W" Z+ X; [: k! Qif 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 & n" e/ H& M' W
condo with $1000/month rent) Total: $344,0401 t. ~6 ]) e4 l# T \; T
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
7 F1 Y% s- l! y& l9 y$ _/ o6 GWe can see what is the best, when it is on its way up, worst?when it is prime(peak).# d7 S3 ] x0 f& @) u& Q( n
: F- P: h0 U0 q2 j/ [& c [So, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.+ r* \% n0 ^3 N0 K$ ^) m/ R
Cannot it be $270,000? Cannot it be $280,000?) x3 t( `3 J( J
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
8 Y& r) v: @7 r2 O4 X$ X5 q. Z2 \, V- VFor me as a property investor, I will always tell everyboy, it is a good time to buy,
! @* t; y+ _& @8 `% O, @; f- XFor 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,
^: H5 f4 G+ ~, R2 ?" Uthen they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.# n2 c* d& \& s x s3 Z
4 ?% H" _8 n# {8 QWell, 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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