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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.2 \( g4 u/ z: i b
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
: r- o8 q5 }$ {0 ?# yIt is always better to buy when it is on the way up than it is on the way down.
8 j( N8 s& e7 X- ~3 c: m* kFor example, the condo average price is around $240,000 this March, now it is $270,000.
: v, n, n9 P5 ~) H( s& lSay, 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.
/ [9 F6 U( E0 a! ^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.
$ E% u- l6 K6 w$ M. kIf 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,
/ q. n+ D6 N" m) xyour mortgage interest rate may have reached 6%.8 D# C& s) ^/ k* V
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.; {; w1 I$ J5 N$ T& n2 r# B
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
+ Q" n. y' S% }/ {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 $ z" d& `0 v/ j" l8 p
condo with $1000/month rent) Total: $344,040
* b6 k4 e- u. [! _9 T( \9 {# Fif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
3 `$ N5 X% I3 D8 D) b) jWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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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.
! A/ m( B! Y& V& ~2 xCannot it be $270,000? Cannot it be $280,000?
$ |; I2 d* X$ ~4 k8 Q1 K; S6 N+ D" JSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
: j( P1 H' P2 B6 g( {' L# i, NFor me as a property investor, I will always tell everyboy, it is a good time to buy,5 Q6 `/ U. [6 R& `
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,
9 S* n! E4 }% Bthen they will switch to my line and try to "HouHou" to push the market up.
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; d: N/ P) W9 B0 l2 x* o0 k YHuman weakness.
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. `0 _, o0 L5 _9 }Well, we are human, we have it. |
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