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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.
4 Z5 T; Z! N" l% [5 l2 }7 xHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.2 \* J9 v- ?( {' o; a: K" L
It is always better to buy when it is on the way up than it is on the way down.& u4 `( u9 W6 U- r/ ?
For example, the condo average price is around $240,000 this March, now it is $270,000.
, k* n, Q0 R! ]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 $240,000.
6 g. W1 x) I5 s: {- W: gI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
7 K J% @# `, y% |" [If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,3 ^7 i$ O: f O3 p p
your mortgage interest rate may have reached 6%.3 p& m+ b4 W0 N9 o7 k) q
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.
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* s$ A6 S1 T6 u" n! H/ DOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
: h j+ b+ i j7 d; ]6 ^0 D2 Xif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same
/ l, a% ]; n% m5 W, L$ Gcondo with $1000/month rent) Total: $344,0404 y! S( t: P2 M2 P/ Z. ?
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
$ V6 D" r; m9 Y' BWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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; ]5 [: R/ R7 ]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.* g0 k9 l6 q! z- m, _) m% z' F
Cannot it be $270,000? Cannot it be $280,000?& t$ M6 ^& F( B6 R+ t, a) Y2 [
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
' ~/ R, K" h9 y Y( QFor me as a property investor, I will always tell everyboy, it is a good time to buy,
$ y# M" i$ P" AFor 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,) V0 o7 E7 u+ `% |* x5 P
then they will switch to my line and try to "HouHou" to push the market up.* b: |8 y1 y4 M3 G/ `
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Human weakness.6 g( O8 D$ k3 @) L
9 i5 v. \% C& E- L0 v' DWell, we are human, we have it. |
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