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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.0 ?% l/ ]6 I# ]) u& G
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
$ g/ l) u v7 u" w" Q6 \5 xIt is always better to buy when it is on the way up than it is on the way down.% S) ]0 Z% N0 S+ x5 O
For example, the condo average price is around $240,000 this March, now it is $270,000.; V2 i1 p. e+ U. j
Say, 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 $240,000.
" L! J1 B" Q* A5 M# lI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.2 p6 H; E* F. Y' E! a+ x4 C
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,/ y# m, Z7 v3 I) @. M
your mortgage interest rate may have reached 6%.
( _; Z2 C* w9 y* {House market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate.4 h: ~$ w L: A9 b; |; L
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0003 s* A& P. `6 b# w o
if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same
, c1 G1 H) r$ `condo with $1000/month rent) Total: $344,040- n: `- U: h6 h5 x1 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
! l3 H7 \. }5 h. |2 M) UWe 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.& ~& u! e6 b3 a4 O: x N4 u# ~& L0 d
Cannot it be $270,000? Cannot it be $280,000?
& R5 a! }3 S' G6 [* SSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
, B& P4 b+ U2 i+ l) ~( X# w$ FFor me as a property investor, I will always tell everyboy, it is a good time to buy,
! L! [2 `$ Y/ R G3 D; I9 wFor 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,
+ y' v7 p0 I! D% p5 Xthen they will switch to my line and try to "HouHou" to push the market up.0 X$ ]0 S6 i$ J5 b! P( t7 i
! O7 `5 C8 c+ p* B( w: o5 z% |Human weakness.
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Well, we are human, we have it. |
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