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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.& U# B2 z; C5 t, b8 Y) _1 z2 L
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
( F0 a3 x; h( A' K4 }It is always better to buy when it is on the way up than it is on the way down.
' C( `+ ]! C3 i8 fFor example, the condo average price is around $240,000 this March, now it is $270,000. h) R) E7 E* a
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.
4 n1 D- [' f5 y: b3 n* GI 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.
$ @6 D& V/ S6 SIf 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,- a& t3 }; ]. o) \9 J
your mortgage interest rate may have reached 6%. @. f- U! R3 y! t
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.0 v+ o9 [1 }" t5 k
! z$ J- u/ |( j) M. NOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0002 X- |0 o# V8 I) o( b, {7 L( ^4 r
if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same 1 r5 a* {$ v ?# B
condo with $1000/month rent) Total: $344,040) x" Y) {0 L6 a! ]3 P7 K: l o3 p2 w
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600; t. X" A2 D: H1 |. o5 q
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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, D+ k' R: m% Z) U* XSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
# a6 C$ ~+ z7 c7 X2 tCannot it be $270,000? Cannot it be $280,000?
: f! d7 m' q2 R- D8 R. u, v0 B# |" I$ M* ISo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.8 ]6 o: K. K+ d! z/ x) n( }
For me as a property investor, I will always tell everyboy, it is a good time to buy,; |5 m( C7 }$ P+ z8 t- [
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 \6 z# `$ e9 B! @. }
then they will switch to my line and try to "HouHou" to push the market up.
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. P7 d$ F7 g7 |2 `Human weakness.
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Well, we are human, we have it. |
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