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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 `2 D% {, y4 V" D1 p" s7 Y
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.8 N' Z5 o0 r3 C/ V& c0 S; ^
It is always better to buy when it is on the way up than it is on the way down.3 F$ s) y3 e# e$ S6 Q9 `. M
For example, the condo average price is around $240,000 this March, now it is $270,000.
8 u, S+ ?& X) ?% Q7 KSay, 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 $240,000.* ]: a- P- X" y! ?6 Z ]. ~5 n
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.. W9 k5 q2 e, u
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,. E% b. T( p+ W9 b/ b" O( m
your mortgage interest rate may have reached 6%.
! z) t( r# _, A; N0 T/ q7 f$ C* DHouse 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# a6 K) M/ d! \( [6 d3 {! z
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
) b# {) K' T3 ?4 y% mcondo with $1000/month rent) Total: $344,040
$ m5 z; n: V( F' l# [& J" sif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
+ J- K3 U5 y( y" m5 JWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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; c V: b' b- @+ d4 RSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
9 R0 e+ {. S9 N+ C" xCannot it be $270,000? Cannot it be $280,000?
; V0 v2 n' G# a! iSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.# t1 J3 D3 w2 s( c0 N
For me as a property investor, I will always tell everyboy, it is a good time to buy,1 c2 Z0 ^- g6 k7 R5 v" J$ c
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,
+ J' ?6 k/ a k2 v' J& V$ Mthen they will switch to my line and try to "HouHou" to push the market up.9 t) V4 w! ?3 j
, S3 M6 g% n/ g4 n4 m7 t" SHuman weakness./ B( a4 e& {! ^) `# Z7 ~
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Well, we are human, we have it. |
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