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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 F% n' i' T( ~0 e! P
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
) D5 y2 U& @! `) a' W- m2 I NIt is always better to buy when it is on the way up than it is on the way down.
' ^! U# Z* A0 JFor example, the condo average price is around $240,000 this March, now it is $270,000.
; C. W9 e& D# ESay, 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 $240,000.
' K& M! \% M1 [I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast. q! _6 K& H7 R& x0 C; h
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,. k8 N' [8 Z/ p) p
your mortgage interest rate may have reached 6%.
9 V# F o; B$ ]/ i9 P/ cHouse 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:$300,000
8 @1 W9 i$ j9 c% B9 H" b7 ] p" Xif 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 $ u% t' x9 t# d( p- V2 k' _
condo with $1000/month rent) Total: $344,040
8 o3 p# E I9 zif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
5 w; |9 ~+ @" WWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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+ S3 `* W7 r5 H5 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.# H) O/ d3 J" v& p+ S# c
Cannot it be $270,000? Cannot it be $280,000?/ r5 I# a, t5 Z
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
7 w) r l1 O! l: }* z7 c& Y' GFor me as a property investor, I will always tell everyboy, it is a good time to buy,
0 @( |% T D0 w/ ZFor 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,. u: Q6 Q0 j* M" R* s% j1 R% n v
then they will switch to my line and try to "HouHou" to push the market up.( e& `" b6 @" c& q S( {, @
8 r% n6 o7 m: L; ^6 }: [Human weakness.
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% T5 u; m& |& RWell, we are human, we have it. |
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