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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.% j1 G4 L/ E& f- d
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.2 A3 a0 D: e3 l
It is always better to buy when it is on the way up than it is on the way down.# a7 ]& \$ M) R3 T" p
For example, the condo average price is around $240,000 this March, now it is $270,000.
, [* J2 K: i* s' |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 $240,000.
. ?: Z$ d& f+ O) O- _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.
# _# F+ L( o8 H) q* 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,, h! i4 @$ m$ G5 n1 a2 W2 a$ Z" W
your mortgage interest rate may have reached 6%.0 h! d7 R9 A1 ?
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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+ n. P2 r+ c. q( O2 IOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
) O4 Y% l7 f, ]3 G8 u% D4 }. X) t- gif you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same 9 q/ E: W7 t6 B9 L$ N' |. `
condo with $1000/month rent) Total: $344,0408 Z, w7 A/ E3 E" C& M8 Q }5 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
2 l2 P: V+ C! s) FWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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' r- H* E; G8 L: L3 pSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
( q W' k0 Y" Y& Q9 [) I! F$ ?Cannot it be $270,000? Cannot it be $280,000?# Z+ B0 y- v/ n
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
9 ?7 `( Q6 ~! R1 M7 y: H2 ?7 t+ eFor me as a property investor, I will always tell everyboy, it is a good time to buy,
" j$ O" _3 c) tFor 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,
1 K+ d9 G- [5 Z3 ]" ethen they will switch to my line and try to "HouHou" to push the market up.0 g3 K9 Z$ e/ V$ @
+ e6 x% |" C* ^, aHuman weakness.- U F9 d9 {( f7 X; A& f9 B
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Well, we are human, we have it. |
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