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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.
0 S' i( G. S. T. G) qHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
$ F$ y* q4 {: c A$ iIt is always better to buy when it is on the way up than it is on the way down.# X2 z/ ]% ]2 g$ u6 O
For example, the condo average price is around $240,000 this March, now it is $270,000.
+ I; ?5 T" ~! q$ WSay, 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 z0 ?) Z% E! Y4 C# l% d- d" _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., E! S4 V" O; ~ W, g2 V
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+ w& U" K( Hyour mortgage interest rate may have reached 6%.
9 l2 q& n+ C3 O: W: SHouse 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:$300,000/ F3 f2 z; G$ l, b
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
1 S. [1 h8 q# t2 C' i9 T( `, y9 mcondo with $1000/month rent) Total: $344,040
0 A1 h% x5 S4 a: d4 G7 S+ mif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600' g/ P1 q& L3 w" u' a
We can see what is the best, when it is on its way up, worst?when it is prime(peak).0 g( D7 q; H- K0 ~
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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.% F: z* u5 L; H' {0 \
Cannot it be $270,000? Cannot it be $280,000?" Q/ W I T/ n @; K9 x) J
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
( H# r) k) o; A& [* Y$ n; GFor me as a property investor, I will always tell everyboy, it is a good time to buy, o& [" l- ?* g7 C6 P
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,' l% i1 C4 ], f! c: L
then they will switch to my line and try to "HouHou" to push the market up.
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$ @" f1 R4 t* L# QHuman weakness.
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Well, we are human, we have it. |
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