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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.0 l- U8 d, P( A+ B8 z2 Z9 e
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
" [% [* v) D" X4 J" e3 {, }It is always better to buy when it is on the way up than it is on the way down.
3 W' A, }3 \7 F9 \) H; x8 rFor example, the condo average price is around $240,000 this March, now it is $270,000.. ~ q" S$ q' \' |# s6 z
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 $240,000.& J9 g; N3 C) e' |
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.: B- K# S# p1 h7 T6 O2 ]
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,, p* r. N: o1 \% @5 z
your mortgage interest rate may have reached 6%.
- h2 z# B m( `+ T0 HHouse market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate.
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8 B+ u7 |: R' D5 l4 V- ?$ q* ^+ Y. J. `OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
+ `% i" l0 A M; b, a8 ?1 K) Dif 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 , J0 }. c: O) |: z
condo with $1000/month rent) Total: $344,040
n" \ O b: S, N8 r7 d% d4 Jif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600 w7 i% r' r2 _8 ^3 N$ p3 q
We can see what is the best, when it is on its way up, worst?when it is prime(peak).& r3 i3 O4 b8 p; z5 m2 s2 Q- H/ n- p2 h
6 D$ s3 _$ [* q/ j$ N2 O; zSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.3 E; u/ L8 c( \2 h: N- x
Cannot it be $270,000? Cannot it be $280,000?% D2 c5 E6 T; d+ y
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
" S% n- v. [2 D. C' c& JFor me as a property investor, I will always tell everyboy, it is a good time to buy,+ \0 \4 T/ ?! z+ T# C; I, z
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,
, Y A& V i9 ~( m. B6 Ithen they will switch to my line and try to "HouHou" to push the market up.& y0 I& E; Q; k D: n b- e+ M
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Human weakness.
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Well, we are human, we have it. |
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