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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.8 U5 \0 b% P# v1 x- I; t; \% g
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.. P" a$ O5 g3 j/ W, H* t
It is always better to buy when it is on the way up than it is on the way down.
2 m+ X2 z6 E7 X0 I9 \* SFor example, the condo average price is around $240,000 this March, now it is $270,000.
8 J+ Z: n/ {4 \2 C. p2 x# C% |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. D9 {& M3 `8 F; a/ N" j
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.
' g( H( ^" j5 h& l% {* wIf 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,* I1 i; p( E) M
your mortgage interest rate may have reached 6%.
" e# L" ]0 w9 O6 tHouse 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* t- v, ]" Q0 T
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
0 f l0 b3 C3 h6 D! c. y' Acondo with $1000/month rent) Total: $344,040
0 S, d2 U: x; N9 |0 C$ Z; xif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96003 [9 b3 s- o& {. m3 i
We can see what is the best, when it is on its way up, worst?when it is prime(peak).% r6 n# y5 ]% {
/ Q* A0 C0 r3 @ p% C; ZSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.7 z( ^ Q$ b3 L6 {" v) L1 r
Cannot it be $270,000? Cannot it be $280,000?$ _" S# c% b$ S0 r5 h2 Z! |( p! @) k
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.7 e. Y0 j0 J) T/ @$ l
For me as a property investor, I will always tell everyboy, it is a good time to buy,
0 U) E$ ^9 i! U6 @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,
5 \8 H( [5 l- p( H) ^& Qthen they will switch to my line and try to "HouHou" to push the market up.
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Human weakness., ~1 p" J, B% g2 S. `
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Well, we are human, we have it. |
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狗仔卡
发表于 2007-10-13 10:58
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发表于 2007-10-13 22:39
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