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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.
) T% P5 [; t' WHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
7 T- g9 V( W" V8 J. {It is always better to buy when it is on the way up than it is on the way down.% k8 G( U! i/ @
For example, the condo average price is around $240,000 this March, now it is $270,000. E2 @* B0 U7 o& s& G3 y" B
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 $240,000./ G/ O3 ^6 n, I
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast., f2 `2 A( e5 f l) G
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,
0 q: v* h) H. |$ D- C2 j! r4 W, X3 Byour mortgage interest rate may have reached 6%.- D- H1 O) v1 x' Z
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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OK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000 n4 a+ O/ T4 C; b, x
if you buy it now, $270,000, interest rate 5.6%. interest(4 years and 6 months) $68040 plus 6 months rent = $6000 (you may not get the same
* u0 X; z$ ^' `+ E% qcondo with $1000/month rent) Total: $344,040; T, \; @, Z2 m) ^4 X
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600+ ]7 F! R9 s& K4 ?
We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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% \: ]5 H5 @6 m2 bSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
/ V# O9 z8 Z/ P. I1 ~Cannot it be $270,000? Cannot it be $280,000?: Q' q4 P [4 O) O
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
7 w' t7 d, k/ ?For me as a property investor, I will always tell everyboy, it is a good time to buy,$ E4 K- a* k8 P+ f9 k
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,3 s5 J3 x. O3 C4 o
then they will switch to my line and try to "HouHou" to push the market up.
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Human weakness.
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8 ?, t( @4 L4 [5 L1 I2 IWell, we are human, we have it. |
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