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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.. ^( T0 f1 c/ X$ B% n
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
* |; H8 H3 q* J! h/ HIt is always better to buy when it is on the way up than it is on the way down.
3 B4 q! x; c' u3 e+ TFor example, the condo average price is around $240,000 this March, now it is $270,000.
/ K, m. h2 ~: a! ?. n1 l# `( sSay, 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 $240,000.
7 [9 j4 h6 P) f8 uI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.& Y) m9 I+ r7 a- N4 o- T$ r' T
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,
. e7 `, o3 ]4 B1 `# g# d" hyour mortgage interest rate may have reached 6%.
$ W! X, |: Q6 i( tHouse 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.& p1 k$ c" C: M# `% `! o
) w: _0 T- F3 }! V* M2 QOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
% G1 G& w4 D7 `5 x9 |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 " t) T4 M( B; I9 z+ K: Q4 P
condo with $1000/month rent) Total: $344,040. y( K; |3 H' D! g$ g0 |
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600- b0 s# F0 ^' O6 a; J4 X4 J
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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8 H8 ?3 r. h% X c2 I" kSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.) B, W/ w7 b1 i1 \ x) y
Cannot it be $270,000? Cannot it be $280,000?( Z3 `2 u6 N- e: ]* I9 D
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
# X1 C$ k, I$ b' JFor me as a property investor, I will always tell everyboy, it is a good time to buy,
! M+ x5 g P6 u- {. XFor 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,
# o( `; F# y# n7 S4 H- qthen they will switch to my line and try to "HouHou" to push the market up.5 G( j" V. q, x" }6 i" v( K
4 ?& P7 H5 @* E. l* eHuman weakness.
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Well, we are human, we have it. |
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