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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.
5 r1 K6 f4 F0 GHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.5 S1 l5 |2 u4 H8 F
It is always better to buy when it is on the way up than it is on the way down.% r( U2 v4 f# R5 H
For example, the condo average price is around $240,000 this March, now it is $270,000.
: ]* J) u* d; H0 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 $240,000.
( h1 @- ]0 G3 II will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.7 }5 G; D, B* R
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
5 r3 i2 H) z; \8 w/ r+ _your mortgage interest rate may have reached 6%.
5 y, ~+ n0 s% t8 j9 A$ b" ~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.3 x3 O# k3 u1 i( ]6 y
4 g: O, q4 ]. N$ [6 cOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0002 b$ Y4 c+ ~6 ^; }2 a( G- i
if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same 8 |0 p/ l$ V0 ~. ~2 i
condo with $1000/month rent) Total: $344,040
: Z4 e3 L" r5 E# M8 rif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
7 ~3 \' ?! @. b F, M( yWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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2 x4 g( {' G3 v$ G) i$ d# fSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.2 C: G9 q" _2 w# |: \( z. W. D
Cannot it be $270,000? Cannot it be $280,000?
: ?/ d- n7 I: \7 W% p4 ^So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
( ?3 v% T8 ~( G3 e- FFor me as a property investor, I will always tell everyboy, it is a good time to buy,+ H0 H" C) G4 S v8 `1 j+ D8 V
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,# W+ J+ z" @+ ?" H8 S
then they will switch to my line and try to "HouHou" to push the market up.
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3 b$ \+ u8 [! p+ G" N% y9 \Human weakness.! M4 H$ F. }. Q: i
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Well, we are human, we have it. |
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