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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 |2 b6 w9 {" W8 x: K+ ]8 |, D
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
# q5 n( ^0 j Q' lIt is always better to buy when it is on the way up than it is on the way down.7 d; Q% _1 Y9 o
For example, the condo average price is around $240,000 this March, now it is $270,000.
: [& K, y* L) m8 W& o) d: cSay, 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.
% s# {1 Y) x' _5 j3 W) U' H0 KI 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 \8 ~' e: p( I3 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,2 @7 s, X0 d n
your mortgage interest rate may have reached 6%.
" N0 n8 p9 } X5 RHouse 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
@. o( }( r p. Q. `& `if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same
, U3 r/ F# L5 ]$ Pcondo with $1000/month rent) Total: $344,040
6 @" t+ i' H" H5 G0 s: gif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
3 ^! A. W9 C! d% Z+ D* j5 mWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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; G0 d3 Y' t2 ~6 K6 O) ^+ d) \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.
! D( S! ?# a" m- D* p" d* zCannot it be $270,000? Cannot it be $280,000?
0 r- }5 o6 y' ]: b& \1 G; D% `9 I( n3 sSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.: W! ?' i: v! n# a
For me as a property investor, I will always tell everyboy, it is a good time to buy,8 d' T6 @7 O5 a* M0 T* h0 F
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, W7 }, M5 o3 ` n4 f
then they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.
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Well, we are human, we have it. |
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