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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.
* Y1 R2 [- y& ~However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.8 g: R3 m. _* e; D6 ~
It is always better to buy when it is on the way up than it is on the way down.7 g2 Z2 o, _' V6 s9 W+ ?5 v4 X/ Q
For example, the condo average price is around $240,000 this March, now it is $270,000.3 g( H" ~/ O6 P+ M; V
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 $240,000.
" J1 V& K5 e; @8 PI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
, P' p1 h, L1 s5 T$ Z3 H, WIf 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,; C2 h, i/ H% Z8 E( c
your mortgage interest rate may have reached 6%.* Y+ D/ \0 t( g
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.( _( E, @% J6 Q- M
2 o ]5 J6 S7 R" {OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000+ f) r. F! X, t; q
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 9 r0 i3 P, l, }, {' E& U& O+ y6 U
condo with $1000/month rent) Total: $344,0406 @& u* [3 u6 \6 h0 G7 F% O
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
# j6 Z1 p$ `3 P3 YWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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5 U4 B8 h/ k/ Z) ~9 P" ZSo, 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* u# [* Q. f) b# d/ G2 z
Cannot it be $270,000? Cannot it be $280,000?1 E% l7 c. X' r9 p+ j' S
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.! r" M, R0 Q% j+ [' e2 O
For me as a property investor, I will always tell everyboy, it is a good time to buy,& R# \' ?2 \2 I- h. I0 F
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,
4 l9 U- ]4 X. ]/ j/ s- Athen they will switch to my line and try to "HouHou" to push the market up.; m) R* u* E* N+ v5 [
' d/ w8 A+ K) @ f& eHuman weakness.
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Well, we are human, we have it. |
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