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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.
# _& z/ q$ U7 GHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.2 M8 Z1 C9 w# h" S. y, H
It is always better to buy when it is on the way up than it is on the way down.
! x" f) Z1 _ O4 O7 \For example, the condo average price is around $240,000 this March, now it is $270,000.
; A: F" P2 Q3 G8 s7 TSay, 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 \( }& E9 s1 L* Z) i. T8 bI 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.
y6 a! F- ?0 \: L8 b+ FIf 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,9 _* |9 |6 P2 i" o! \, H$ ?
your mortgage interest rate may have reached 6%.1 u, W F) A% M2 D/ s0 x, C8 {
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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1 o; z" j N4 u9 xOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000/ R$ c2 A6 \9 i' ? H
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 6 \1 I6 v! s% n2 n- M0 V
condo with $1000/month rent) Total: $344,040
5 F4 y3 k% ~; t J+ s5 B% a5 uif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96005 I8 x, w" w5 v6 s+ j4 S; c
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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1 O1 P# g+ ^0 w; t, sSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.( u- z X7 c n* a, H
Cannot it be $270,000? Cannot it be $280,000?
$ r% q W& t. nSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.7 [/ m- j% o) k8 a" s- y
For me as a property investor, I will always tell everyboy, it is a good time to buy,$ j/ `; l& M. V( O
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,
1 w8 U5 V" o$ ]then they will switch to my line and try to "HouHou" to push the market up.
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0 }( ^0 O* o0 C/ N- f; O0 V' D/ kHuman weakness.
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7 w/ r; N- C' n8 r3 a' a3 eWell, we are human, we have it. |
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