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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.
0 d$ `) s* P9 v2 MHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.1 [- n+ e& V: B/ f6 t3 U9 O6 Z% q
It is always better to buy when it is on the way up than it is on the way down./ a; m* J* x) ?" m
For example, the condo average price is around $240,000 this March, now it is $270,000.
/ m% o/ s; k6 H2 n$ T" R1 \/ _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 $240,000.. M# F$ ]( G3 s
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.
( w$ o! X% w+ p; [4 C( V1 EIf 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,
% ^6 s( J1 H! f, D2 _! uyour mortgage interest rate may have reached 6%.
& i7 w1 A( {! |- |8 ]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.9 Y2 }0 W) a- C. W
8 {( I r& P" H/ q8 k& z9 d# yOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
1 J! o: _8 M/ t8 {7 `; x' [7 pif 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 ! @& x7 K5 e( n: m
condo with $1000/month rent) Total: $344,040/ Q3 Z4 [9 _! K% k
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
- a# k' i9 z2 ^. @6 S6 K. l* [0 JWe can see what is the best, when it is on its way up, worst?when it is prime(peak).$ h' s' K. x$ X7 r1 I- f; T7 ^
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So, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
- u$ O& d' K: @) TCannot it be $270,000? Cannot it be $280,000?$ I1 l& J4 F3 g! D5 v3 h$ ]- L8 S# e% T
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
0 ?4 g3 N( ^; p3 X9 A# H0 ?For me as a property investor, I will always tell everyboy, it is a good time to buy,8 I' F$ W3 i5 |1 [3 P5 B6 b/ 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,$ M4 W# G1 J% ^
then they will switch to my line and try to "HouHou" to push the market up.6 j+ Z) i+ z/ A& ]
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Human weakness.
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Well, we are human, we have it. |
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