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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., I" j4 D, a1 _7 k4 S
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
7 D& C% ?5 q& E7 W. GIt is always better to buy when it is on the way up than it is on the way down.+ Q7 n: \8 R3 n: A* K
For example, the condo average price is around $240,000 this March, now it is $270,000.
" n5 S4 X- M3 p5 A3 jSay, 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 $240,000.* p3 ~, N$ b2 O ^7 Y0 b0 K- r
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.3 b( H% X/ y' J/ o: u. 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,4 r9 e- J2 j0 ], X) Y
your mortgage interest rate may have reached 6%./ r4 F1 [4 D9 s1 O c
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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( t7 E( X- {. x5 sOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
+ L: J# N. u( S; ^: v% }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
5 P( x0 l" j( b7 Wcondo with $1000/month rent) Total: $344,0409 Y6 i: k M' U2 F
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
3 I X3 V+ @& U4 O- l& f$ RWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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9 X6 L* [8 E! b, k9 m, Q, p3 LSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.4 j9 i# W+ J' y4 J4 Z( M4 S+ ~3 s
Cannot it be $270,000? Cannot it be $280,000?
9 C9 ?( R ]% c: v/ i. VSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
) d5 `9 i+ c$ J; f0 N1 KFor me as a property investor, I will always tell everyboy, it is a good time to buy,
4 \/ `6 W0 a9 b G& cFor 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 Z1 v" {! e$ `, u+ M
then they will switch to my line and try to "HouHou" to push the market up.8 s: t% y/ J9 \0 \
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Human weakness.! N- v; \& J3 y2 ^, V: e0 x
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Well, we are human, we have it. |
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