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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.
2 | ]: M5 A8 L3 x# u( oHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.) h( y. \! {9 R+ B
It is always better to buy when it is on the way up than it is on the way down.8 ~5 j( l" ]7 O0 D1 I: a$ b
For example, the condo average price is around $240,000 this March, now it is $270,000.: e- j% P2 b# @: i
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 $240,000.
9 x+ \* S9 O( VI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.$ g; Z M& R4 X S1 I
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,
0 D1 t( m8 D) A, E( |your mortgage interest rate may have reached 6%.& z+ I' {- B- U$ G& v# e
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., w# M3 R: e4 |, @
5 O7 n3 w' Y h, @OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
1 u, K6 F& t% G% P6 fif 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
' j( q. E" b9 q6 ocondo with $1000/month rent) Total: $344,040
( d) q5 r$ h1 v$ Eif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600( ^% V( X [. p& F1 M5 g
We can see what is the best, when it is on its way up, worst?when it is prime(peak)., J2 o" H$ C1 o, T
8 @$ }; F: S6 U0 RSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
( [; v8 B( Z8 K4 @% BCannot it be $270,000? Cannot it be $280,000?0 ~: d2 ] [, G" A/ b" O7 h
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
! S& B# S8 G- O# ~For me as a property investor, I will always tell everyboy, it is a good time to buy,
+ R' w; Q7 f) @$ t4 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,
; \5 B: g J9 a& p6 P0 ~then they will switch to my line and try to "HouHou" to push the market up.$ w( o4 b; E# ~# u) d6 C, o
6 L. `# G+ O# _3 W# e. ?0 C b1 }Human weakness.
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Well, we are human, we have it. |
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