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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.
) P2 H- V% V, |( ^However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.. h1 v0 a! H. l$ @
It is always better to buy when it is on the way up than it is on the way down.
7 m6 B) }" _# Y. H# y2 ], N& uFor example, the condo average price is around $240,000 this March, now it is $270,000.
( r: [1 ^. N7 b/ o5 W; 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 $240,000., O# d; j; n5 b" o0 _9 o& K
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.) X8 [: Y7 T5 P$ U! Q& M
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,
# o3 g' A( V, r) i! D' ~your mortgage interest rate may have reached 6%.
4 F/ g) ~! l8 y: ?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 i! U+ S4 O5 aOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000$ {4 k, X* R' A% h3 Z
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
i4 S) P! j8 l& Wcondo with $1000/month rent) Total: $344,040, b! e0 X7 e1 A% \& k) n3 ]
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600) W; q3 r1 l0 `0 ]# ~
We can see what is the best, when it is on its way up, worst?when it is prime(peak).5 w& l5 C8 Z# r! q
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So, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000." l+ q+ y. T% p1 y* j" G
Cannot it be $270,000? Cannot it be $280,000?
0 Q `1 Z3 ?2 \- ]2 q8 rSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine." t5 F$ H. E( m; ^
For me as a property investor, I will always tell everyboy, it is a good time to buy,& ?! ]& U& f( I' p# y; T* Z* c2 ?
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," o. P7 }; i7 e& r. q
then they will switch to my line and try to "HouHou" to push the market up.
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& D$ Q" Q6 ]% R$ VHuman weakness., L5 {& J# O$ m; \9 ?! T ?
( V+ m7 q% b. _Well, we are human, we have it. |
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