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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.
. z% }5 g8 m( ]5 \However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year. p- J! s6 U+ \9 O7 i0 _5 }; K
It is always better to buy when it is on the way up than it is on the way down.
0 Y7 I4 W7 O5 N% q, Q$ YFor example, the condo average price is around $240,000 this March, now it is $270,000., x3 @/ i: ^* ^2 X |1 z4 ]# T
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 $240,000.
+ y; r1 L+ S4 d3 N7 r2 rI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.5 W. {$ D; S$ |
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) l: ?: ]- X u$ `
your mortgage interest rate may have reached 6%.
9 X9 H( d1 G( f" n4 _% b. vHouse 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.9 e% ]" I p9 |
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0000 q8 k/ H( Q8 g( w
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 9 g# @, G, D0 s' b4 g4 i
condo with $1000/month rent) Total: $344,040
) l! e3 R' e8 _1 ]# t5 H; T# ]if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
[8 E- \! R' v6 F y5 E7 F/ v1 AWe can see what is the best, when it is on its way up, worst?when it is prime(peak).* D8 y& {* M& D e, d+ Z
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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.
, F. F4 r' q& D+ B7 R; C- _Cannot it be $270,000? Cannot it be $280,000?4 M8 R# e. ~3 H# J4 u) J* Q0 D, h. y% M
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine. C. f4 t- x5 _! W8 u. C: g: _
For me as a property investor, I will always tell everyboy, it is a good time to buy,( i. {2 X, O, y
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,% F* I# }( y& s* g* {' x) V, e4 h
then they will switch to my line and try to "HouHou" to push the market up.
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+ {7 a: s/ V' V0 }) `7 K( v: FHuman weakness.4 v7 c& n; y0 k% N1 u, m
3 X& e7 f2 D# j" E+ V# z/ r3 |# K7 E. \Well, we are human, we have it. |
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