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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 b& d. }5 ]: a, m
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
1 i6 a( I+ ]8 QIt is always better to buy when it is on the way up than it is on the way down.8 @* g: P4 W0 \$ a6 p
For example, the condo average price is around $240,000 this March, now it is $270,000.
$ P( ^9 _' \' L5 ~$ LSay, 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.
6 [- [- s& `( W. h. d- r# ?- fI 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 c/ O4 Y7 n9 a lIf 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,
, p0 h6 Z9 z; O( c) Myour mortgage interest rate may have reached 6%.
( F0 F7 s) _- GHouse 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.' z0 A- {: p' @ n* u
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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
/ h, {; P; e6 Y$ j: z1 V6 eif 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 ' q* R' U" F' H% A8 q
condo with $1000/month rent) Total: $344,040
' z9 i: D! F5 r* \) v' [+ n5 [if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
) {# e% d9 H" Q0 U) B6 kWe can see what is the best, when it is on its way up, worst?when it is prime(peak).2 d- p, M& h9 z# t9 C- a* N
8 L1 l) ]: d1 m- w9 i$ ?7 NSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
6 f8 U1 A0 l u+ x' j9 \" l BCannot it be $270,000? Cannot it be $280,000?4 t/ O' K2 `& y) E
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
5 c' x2 T8 P# ]7 j, T) cFor me as a property investor, I will always tell everyboy, it is a good time to buy,
. Q1 `& | b5 YFor those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,
: n( f- Q7 F0 f1 E; o' othen they will switch to my line and try to "HouHou" to push the market up.$ B6 z9 k' D* P( r' c
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Human weakness." }4 i3 g# ^! C, t
, X6 q( l% E& N* u& NWell, we are human, we have it. |
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