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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.+ b2 A& r+ V c O ^& C: z5 G& 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.
- {" ]( R9 U9 v& qIt is always better to buy when it is on the way up than it is on the way down., }6 F$ a& {3 s0 J6 `. G
For example, the condo average price is around $240,000 this March, now it is $270,000.( h& U3 x0 I; Q' D8 n
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 $240,000.' L o# |4 b! ?. K0 S0 C
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
4 R2 d. |3 F, D! ?If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,$ p0 J' q& ], |" l( z# [6 s5 v
your mortgage interest rate may have reached 6%.+ D. R+ X* R" I ]. ~3 ?
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.
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. `- O) L c8 F9 lOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0004 z- T) o( V' J
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
$ V& g7 `. X# H- n8 J1 xcondo with $1000/month rent) Total: $344,040
/ U {0 @6 r6 a( M, `if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
1 W% m* |! @8 S5 ?7 tWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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* W( t+ K4 |; N4 [) h0 J- f8 RSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.5 U: A! J; H' D$ C; G8 u
Cannot it be $270,000? Cannot it be $280,000?
/ j- n E# H" {) @* l( l5 s* \So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
0 _ ^& {2 }' T. gFor me as a property investor, I will always tell everyboy, it is a good time to buy,
- E$ p4 _3 F$ eFor 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,# l0 a' E/ a: \8 s& ]$ U) u: [4 @: u
then they will switch to my line and try to "HouHou" to push the market up.
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& A" y0 u- _. G' Z6 }3 H; RHuman weakness.
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Well, we are human, we have it. |
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