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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.9 D6 h( m) r2 L. [* ?) I
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.# Q9 D* w" Y9 @. O
It is always better to buy when it is on the way up than it is on the way down.
9 n& `" t, l4 `8 l) h: V- GFor example, the condo average price is around $240,000 this March, now it is $270,000.& g6 A" Z3 d! J2 p6 F
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 $240,000.5 P. N4 W# r1 p8 d$ L; k
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.
( ?0 n! j5 g7 \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,
; u" m4 J5 d; \; i" r* r' ?, Lyour mortgage interest rate may have reached 6%.
9 @. J; i* C5 ^, SHouse 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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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000& e6 m6 S, R1 _7 g, r
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 ( X' w6 Z+ q& J5 R- j
condo with $1000/month rent) Total: $344,0402 N" Y4 t2 F2 P I! f' p
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
# \* _+ g& x9 ? B8 KWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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; F) u, I: f- ?; tSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.) A y! o9 I7 A+ T# y# x
Cannot it be $270,000? Cannot it be $280,000?
2 N; \6 k( f. B' fSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
# D4 x: m+ z) s8 ?8 E4 cFor me as a property investor, I will always tell everyboy, it is a good time to buy,2 m% u, {4 P1 G
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,5 i$ l9 K' F) } J8 l1 ~
then they will switch to my line and try to "HouHou" to push the market up.7 J2 V/ S8 R9 d% }; L
" a! m6 M3 K# C, F) yHuman weakness.
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0 z- A% ^" G4 g" r4 ZWell, we are human, we have it. |
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