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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.
! g' p0 Q6 h9 Z1 fHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.2 P0 j& k `2 |7 N/ t, t$ P/ {
It is always better to buy when it is on the way up than it is on the way down.
7 e( ` V7 I9 sFor example, the condo average price is around $240,000 this March, now it is $270,000.; R1 V1 T3 A; V) 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 $240,000.' q/ j4 w$ R7 F1 I4 D9 n9 r* r% V
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.) d2 P9 M3 X9 R. z* _
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,
1 M& k( S0 J$ W# W# ^3 a- m# z# Hyour mortgage interest rate may have reached 6%.
3 R9 L/ @% z9 R- g$ [9 a0 f3 b XHouse 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.% S0 `* b$ W- J: S
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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. @; Q/ f. } a E
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 - c/ f% F" I+ |: P
condo with $1000/month rent) Total: $344,0401 f/ e$ h3 `! \1 \0 ~7 l* `
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
/ T3 p4 d( F! cWe can see what is the best, when it is on its way up, worst?when it is prime(peak).
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6 |: N$ N! U+ `. D8 s5 Q1 n! c% F7 [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.; s7 p* a c `/ Y
Cannot it be $270,000? Cannot it be $280,000?9 v! o) X+ `' d7 ~0 O' ]
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.8 Y) K6 h* i6 g o! L
For me as a property investor, I will always tell everyboy, it is a good time to buy," B* b; [. ?# Y) m$ J0 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 {$ Z' Y/ i% Bthen they will switch to my line and try to "HouHou" to push the market up.
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7 q1 u; w S# [; O/ S0 iHuman weakness.
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Well, we are human, we have it. |
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