 鲜花( 0)  鸡蛋( 0)
|
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.
" W! }* _9 n1 r3 c% x/ KHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
! h, d+ @3 R `4 r. dIt is always better to buy when it is on the way up than it is on the way down.1 b1 v$ k9 r& z3 G# g
For example, the condo average price is around $240,000 this March, now it is $270,000.
: P9 z* z( g \/ \( _0 g" SSay, 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 $240,000.2 V! d0 n# i1 B: [" l7 B2 c& M' m
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.# x; h' t+ N5 }/ m8 k% \7 B, H
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
, A3 L+ l& y! p4 }your mortgage interest rate may have reached 6%.( ?/ }$ t! K, P! ^/ A$ p0 U
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.
' S- o7 d% m* G" i6 w# D) T. @1 p& @# W n. _) _
OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,0001 S) Y) R% f+ o# Y- j7 G% S
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
4 e* C* T" q) }1 a9 \$ f3 d( H. o2 lcondo with $1000/month rent) Total: $344,040: G( \! W0 i* G- R" A5 y
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,96008 Y; x9 k% O" t1 z; M4 S+ C$ I
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
$ e1 D( i2 L3 M
, h$ |& v( I2 K" X- h6 _So, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
5 ~) T* _4 R$ n# C; {2 R' Z; TCannot it be $270,000? Cannot it be $280,000?4 P5 t* z" r8 p1 d* r
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
) v# Z3 ?0 z% }3 Y9 ^# GFor me as a property investor, I will always tell everyboy, it is a good time to buy,
1 G% D7 \- S5 s% C$ 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,
5 E! i5 o# o4 x! Z" e6 Cthen they will switch to my line and try to "HouHou" to push the market up.$ y0 P% N3 B; O! j3 c
/ t& n$ v% M$ q* o/ R+ B, V- Y# ZHuman weakness.
! m: _ i' l; N% T
& n" ]9 q+ |1 l) {# D! [# L! AWell, we are human, we have it. |
|