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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.
) C5 D% Q( n! Q) [+ NHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
- y7 Q r% U; M* TIt is always better to buy when it is on the way up than it is on the way down.+ n' P* }0 g; q4 ?! [
For example, the condo average price is around $240,000 this March, now it is $270,000.
/ r2 E. S. A- B: M2 A. i% \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.
) e/ r7 @# \8 {. u) iI 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.
7 S/ Y0 i9 ? w2 x6 \: C, zIf 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,
$ B9 X1 y& O& s ^/ W+ @% hyour mortgage interest rate may have reached 6%.
0 V. M8 @; s+ e: O; xHouse 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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' {& i# C" J VOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
" ^1 {1 Q3 n3 h' f( Pif 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 6 {0 j3 W: h/ B
condo with $1000/month rent) Total: $344,040
8 |( Y) y5 P# z3 Iif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600+ g/ a u" o2 R* H- I
We 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 $240,000.. ^$ ^( I! ` u& G6 k
Cannot it be $270,000? Cannot it be $280,000?
7 E P" |+ \. g: I* a+ m, a) ^So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.1 B/ o- E1 s. c4 u
For me as a property investor, I will always tell everyboy, it is a good time to buy,
# H/ q2 @$ Z: P" f. @1 }& E4 n% wFor 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,; _/ k$ p0 e$ k0 Q
then they will switch to my line and try to "HouHou" to push the market up.5 q9 s0 |: P2 `% o: L& x F; ~
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Human weakness.8 U) I3 D, X* I9 h% T
0 e: e( X* ?. I4 u- c3 N0 h6 J$ [Well, we are human, we have it. |
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