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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.5 s4 E! X$ A3 J; E( n' V
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.! @" f- N- V6 X- m$ f% S0 Z# e
It is always better to buy when it is on the way up than it is on the way down.
0 r/ R5 ^* X5 G2 Z z1 o9 i+ E6 @& qFor example, the condo average price is around $240,000 this March, now it is $270,000.& p% j4 @6 I( @( C4 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 $240,000.
7 G: D1 f+ U# q' Z j* tI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.; U& X7 L5 B j# Z+ J
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
2 X9 _- k) j8 k; W& Ryour mortgage interest rate may have reached 6%.
+ S$ K2 M8 i: Y2 U3 V2 b. ]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.& Z% O7 y) B, X9 h) c9 Q M6 }' ]
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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
) \7 y2 y9 r9 s- }if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same
3 w$ W9 j* l7 Z4 x8 F, Y8 Ucondo with $1000/month rent) Total: $344,040% O' N& e/ z$ c0 A0 V+ f1 f6 `9 ~
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
5 ^$ {) i4 E1 c4 N: K* CWe can see what is the best, when it is on its way up, worst?when it is prime(peak).; }& m8 G9 x! o& \
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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 $240,000." h5 g" D& V/ O$ x- h
Cannot it be $270,000? Cannot it be $280,000?) t+ g% U) F' o' N- W5 c2 A
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
8 M5 T5 {+ M3 w, [, H) m) KFor me as a property investor, I will always tell everyboy, it is a good time to buy," r8 }2 R( w2 k: ~- B
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,3 |9 b2 T+ r7 N; C
then they will switch to my line and try to "HouHou" to push the market up.- t( E E1 ]! p' |# y! A, G
( W' r/ K9 S6 vHuman weakness.$ _. X) T' R2 W! C! h8 p7 A
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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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