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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.
: ^% i5 v7 |8 y" q' t# x1 |However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.) k8 _0 h9 {8 `! S1 Z0 N$ _3 n3 ^" f
It is always better to buy when it is on the way up than it is on the way down.1 U4 o- L& ^; H W1 ~& @3 U
For example, the condo average price is around $240,000 this March, now it is $270,000.
& m6 c% E: h/ I7 BSay, 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 $240,000.
& w) Q ?+ v- bI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
" v; t, }- f4 z* p+ F9 VIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,7 y3 [; p. z% L" y: n. ?
your mortgage interest rate may have reached 6%.- U$ Y# o3 q! A9 @9 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.. h( A& e+ Y$ A5 P6 E
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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! ^; z# Q2 P( k7 a' M
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 4 d: z" ^5 d7 z9 X: s T {6 v
condo with $1000/month rent) Total: $344,040/ }6 k, M8 q! m* f- v8 c o: C
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 O/ G: P% |9 x) Q( oWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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2 `# N" p, C& CSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.+ P1 N' P( m. Y
Cannot it be $270,000? Cannot it be $280,000?
4 y* n: O- d6 V% h U# HSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.* x! L9 U1 n" F5 N% L1 k
For me as a property investor, I will always tell everyboy, it is a good time to buy,' V+ |) a ]& e+ J* D+ }
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,7 }. u* h" |8 @/ R/ r* t- A
then they will switch to my line and try to "HouHou" to push the market up.& h3 q. J) r- q$ S- V$ r9 L& R
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Human weakness.
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9 C7 Y# [$ j1 G% h0 X. }Well, we are human, we have it. |
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