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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.
- v n8 N7 E; j( _9 \9 CHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
1 g8 {- J# Y6 O8 A/ S0 j: AIt is always better to buy when it is on the way up than it is on the way down.% F0 @! Y! k0 R7 b8 @6 }( e8 F
For example, the condo average price is around $240,000 this March, now it is $270,000.
) U: k8 e- b" A- @. v/ Q/ i- `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 $240,000. M+ ^6 y C( J: N) T" W6 c
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast., s' M- U6 X r6 J9 F# U
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
- x8 D4 f9 ]2 ]. ]6 Zyour mortgage interest rate may have reached 6%.
7 D9 ?% s( N2 o0 ?/ ]3 j% IHouse market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate./ o! D, p0 m ~/ g3 h# `6 E: J
% q$ j O$ s0 R! L& g' WOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
' M E9 i& s) h; V8 kif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same - _5 e( b4 h. ~: \6 v$ ?8 Y
condo with $1000/month rent) Total: $344,0409 \+ p. W3 L ~8 f) f5 v: q5 A
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
! S' s" ~' n* _" }, ZWe can see what is the best, when it is on its way up, worst?when it is prime(peak).2 I1 e* C( ]6 K/ `2 C2 x' W
! v; V4 q$ d$ z" C! e S9 u7 j. O/ oSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000." C, E$ S! B% F$ z2 O
Cannot it be $270,000? Cannot it be $280,000?' M* j& `3 ?% O k1 W# y* M: s( B) ]
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
1 _0 X$ C) _9 ~6 aFor me as a property investor, I will always tell everyboy, it is a good time to buy,
$ d" p3 z; v! v0 L4 \8 oFor 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,
. }0 C! _. [8 c) Sthen they will switch to my line and try to "HouHou" to push the market up.
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, v8 w7 r6 }' t1 OHuman weakness.
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; J9 ?# r2 n8 sWell, we are human, we have it. |
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