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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.- E) u1 I% Y X' W
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
# d- S' ]& b1 K: h) ~It is always better to buy when it is on the way up than it is on the way down.
: j. t* V* P, r; R' T" dFor example, the condo average price is around $240,000 this March, now it is $270,000.
+ b' r; Q; {: b' vSay, 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.
) _2 X% A+ b% k2 q p/ 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.2 P. x5 o0 \) m2 w$ S% Q2 }. u2 @
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,
+ I4 x2 k* @9 x! C& t) A* a# oyour mortgage interest rate may have reached 6%.9 l+ Q( G6 V$ w) c' Y8 U6 Y$ g
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.6 ^& \) M8 V' L3 S1 [, Q1 {
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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
0 @1 x5 R, A. Bif 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 |1 C$ X/ X1 R- b$ zcondo with $1000/month rent) Total: $344,040+ o: d! T8 K! t) [' a: | \$ F! M
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
! I+ y1 ~4 G4 z8 nWe 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 $240,000.4 ?* a$ U/ A7 Z* ^. u) Y/ g
Cannot it be $270,000? Cannot it be $280,000?
. ?5 H5 P; B) ^* q% z' H1 LSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
2 M2 d& S8 m# j1 u, U) HFor me as a property investor, I will always tell everyboy, it is a good time to buy,1 V; O4 K$ n( k$ _( e S
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,# J1 Z/ A# L: i# |
then they will switch to my line and try to "HouHou" to push the market up.
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) n( s% z, T( x/ Z( L4 ^Human weakness.0 C7 e; W: D/ |+ [2 S; c* L/ f# g
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Well, we are human, we have it. |
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