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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.
. `- { Q+ i2 |; m* o5 Z+ u5 h. DHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
& }* x1 g p, N1 S$ a1 d& VIt is always better to buy when it is on the way up than it is on the way down.
% |7 T) J i k, a5 j* `& aFor example, the condo average price is around $240,000 this March, now it is $270,000.
& I4 s0 ^& t$ t5 q- jSay, 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 $240,000.
! I7 V6 p8 d5 e1 HI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
1 h+ W5 }1 ^; T5 F4 q9 s* w; g6 WIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,7 a3 g5 }* b0 K5 ~( X* B2 r& u
your mortgage interest rate may have reached 6%.
# a1 f N9 Q1 Y( A+ P( iHouse market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate.
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" @, _+ s, k* _0 W$ IOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
9 [( Z+ E# H1 m3 Y9 |& |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 # Y8 J: S. W' w: N
condo with $1000/month rent) Total: $344,040' D- m" v. L! F% h
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96004 z. W$ a: O1 {' U4 {$ G# N
We can see what is the best, when it is on its way up, worst?when it is prime(peak).; s& k+ M) T! y
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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.
1 t" \/ Z! I6 m/ C1 S4 X* w7 OCannot it be $270,000? Cannot it be $280,000?
+ p* x) v& y. F# U4 T, wSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.% i8 ~) f5 w% Y/ _
For me as a property investor, I will always tell everyboy, it is a good time to buy,9 M/ Z# `6 g# _( k
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,
5 c( ?; a( c5 Dthen they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.
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Well, we are human, we have it. |
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