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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.+ H9 v; \" T( v) }$ ?. }: z0 Z
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year., r% \6 K, _5 m! V3 m: P
It is always better to buy when it is on the way up than it is on the way down.
! o6 H. P8 y: Q' c0 S3 n9 ~For example, the condo average price is around $240,000 this March, now it is $270,000.9 ]9 M6 K# G! j) y
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 $240,000.) f9 J% o1 B& P
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
) V( F) w. G5 t; _! OIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,# N, e" S7 O% d# {
your mortgage interest rate may have reached 6%.8 u. `4 q ?. H; |9 O" j
House market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate.$ ?, F: w1 h) Q5 @/ h3 c3 ]" G
# b, C& N: Z: ]8 [1 [1 K; GOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
0 E( f+ ~1 A! t* G- kif 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 1 g. u5 b) @: u! Y1 R2 m
condo with $1000/month rent) Total: $344,040
2 u8 ]( x; m, Rif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600) ~7 b% Q2 h% {6 {
We can see what is the best, when it is on its way up, worst?when it is prime(peak).- j8 D1 M1 {: S( W- ?
6 o: L8 A% w$ D5 |$ C( q/ A$ CSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
; J4 Z. Q4 d C" I" @4 y" S0 yCannot it be $270,000? Cannot it be $280,000?
. Q; A0 |8 Q) z8 A. W) gSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine./ j; ` ?# ^. K1 Y# i
For me as a property investor, I will always tell everyboy, it is a good time to buy,
% K: F$ _, ~( P4 r* f1 \3 _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,. _# Q: b6 d' J0 I9 v0 }1 m! Q
then they will switch to my line and try to "HouHou" to push the market up.! g8 w& U0 y( M) T) E0 Q. W
- R( s B& i$ T1 G+ v8 X% `Human weakness.) A& V1 Z! n) ?& l8 z% ~( d& p) W0 @
5 G8 y( P) @6 U' e0 G/ hWell, we are human, we have it. |
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