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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 s% ^- E2 v P4 L
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
) k1 Y0 U; v, \$ b; ZIt is always better to buy when it is on the way up than it is on the way down.
3 g: p3 z" g$ t2 H2 sFor example, the condo average price is around $240,000 this March, now it is $270,000.
% P- H- n* U0 O5 Q' u1 J4 }. G. z5 P" M; qSay, 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 $240,000.* k, C* V+ Q0 f, G- q2 O
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
- Z3 t" F9 L9 j$ {( j$ j/ TIf 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,
8 x7 m. q6 v' s/ t; Yyour mortgage interest rate may have reached 6%.
" ~9 F2 N. Z: p! n& q8 O6 \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* y6 a( x% Z$ ?1 ~4 Z% |6 mOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
! O4 f: b( ^3 _' Q2 g: y) \. jif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same ; T9 {! v" x$ i. s
condo with $1000/month rent) Total: $344,040
- c/ p+ m: `9 @if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600 y/ A5 q; g: k# b( D$ P
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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' ^7 B$ ?3 q# ]/ BSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.$ R+ h1 ]) W& B5 m9 S: f7 N: D
Cannot it be $270,000? Cannot it be $280,000?
0 j. h* l; y" L! ^7 P) t8 B6 m+ sSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
( r$ \, [1 d* @1 i4 t5 Y' zFor me as a property investor, I will always tell everyboy, it is a good time to buy,
! r" q. ~, V" o+ h1 n$ r8 c7 TFor 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,* E4 \5 w+ G) ^9 E" {
then they will switch to my line and try to "HouHou" to push the market up.0 g, [' W+ A$ H: z% P
+ p% Z: p+ |5 @ `( y8 y1 vHuman weakness.7 K4 V8 f/ g# R. P' c$ m
: l, g3 W1 l$ Y) G2 iWell, we are human, we have it. |
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