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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.
: b3 b8 H& L/ M; y% a: w8 w7 wHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
" G& j) W" `; B* ?/ D. B0 _It is always better to buy when it is on the way up than it is on the way down.
) P' T1 n' z& m% X, PFor example, the condo average price is around $240,000 this March, now it is $270,000.
% E& O& ^% _% d! G$ YSay, 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 $240,000.( i# h" X) Z2 A( ?( |* S
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.0 n$ N" I1 e }
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,
/ E3 ~9 v2 e1 a5 Nyour mortgage interest rate may have reached 6%.
: V4 p" ?3 i3 M5 R0 v$ lHouse 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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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
" }* D8 T2 v" G$ `! {) xif 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
' r+ f0 T# K9 H) V* Kcondo with $1000/month rent) Total: $344,040
7 ?* C2 m% m" B# T( [1 W* Xif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
$ b1 c- P3 h8 A. p+ BWe can see what is the best, when it is on its way up, worst?when it is prime(peak).# n0 F# B X2 N! j' ` ^) s
: X0 k! c! d4 E! oSo, 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 O1 n' R" {2 ~) fCannot it be $270,000? Cannot it be $280,000?
; a2 k' Q3 c7 {: m) {! F# _So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.* \) |3 f7 L/ b+ B% H7 _# C
For me as a property investor, I will always tell everyboy, it is a good time to buy, P5 E9 ^& K2 |6 u( m; N' g/ N. {
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," H- K0 K+ s9 |6 q
then they will switch to my line and try to "HouHou" to push the market up.5 @, N0 @6 Y. B6 a! N" y/ I
) D# t" N. z, ]0 N% H) D8 UHuman weakness.5 V1 m8 ~! l6 Y2 X1 G: M
m9 A( Y8 G8 JWell, we are human, we have it. |
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