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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.
1 ?5 @/ T4 n) w: Y9 M; EHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
K0 C# \1 i: P& i& I" L3 cIt is always better to buy when it is on the way up than it is on the way down.; Z( G% k R9 m2 L
For example, the condo average price is around $240,000 this March, now it is $270,000.' }, l6 o. E' u& y9 K
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 $240,000.
# @* g9 ~+ X- Z' Q# ]+ \I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.$ j ?+ S. }" B
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,3 i! p) p2 _4 f) F c
your mortgage interest rate may have reached 6%.; ~3 ]3 Q# O# f1 Z. z" A2 @9 v
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. r# j. f; r- q
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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
+ N ?- s0 o# r- jif 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
G* K3 e) N1 w4 u) R; rcondo with $1000/month rent) Total: $344,040* K) C4 ]8 a. o8 D2 H
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
9 ?! ?' |+ I2 S! f( xWe can see what is the best, when it is on its way up, worst?when it is prime(peak). D4 b% T3 V; D" i
9 G8 `* [0 v# Q' w* jSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
( o; n+ A8 ~ e: y; ]5 d& qCannot it be $270,000? Cannot it be $280,000?
, ^* X! m& {( ^! K" wSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
! q, G1 j0 @) K W* `/ z8 d0 |. rFor me as a property investor, I will always tell everyboy, it is a good time to buy,+ F/ f, D) A: d' Q3 @4 g
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,7 f9 I, d4 U- _, w
then they will switch to my line and try to "HouHou" to push the market up.; D$ H" L8 w7 Y
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Human weakness.
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Well, we are human, we have it. |
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