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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.; ]7 i( @ i- V, B1 o. ]) I
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.1 U' m: o' W9 B) Q; k
It is always better to buy when it is on the way up than it is on the way down.
: H; Z3 P/ p, W) F2 A" X) dFor example, the condo average price is around $240,000 this March, now it is $270,000.# t, h$ `$ c* V3 r: A' ]
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.( Z) R/ d6 L+ g# s& r
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.0 {% [) D. x+ o( a& m! k( L
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,) X3 P; t4 m( l
your mortgage interest rate may have reached 6%.
" E) V/ S* d7 Y1 p' iHouse 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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; N) Y; E% K3 N! |7 qOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
, m' y/ x: U& W$ Y/ N2 O! n* d! M& _/ Dif 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
7 X* J- _' c) S8 [- Hcondo with $1000/month rent) Total: $344,040" U8 w: k& @% n& i$ [
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
4 D/ O5 E1 J% x* n* ~We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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7 |; c( s5 A' M: Z) F3 PSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
6 _* E3 H0 L* E' o( O* ICannot it be $270,000? Cannot it be $280,000?1 l5 O. r8 n% z! J! {0 [( `, A
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
% j4 d- g1 M2 [# e. u9 A* }For me as a property investor, I will always tell everyboy, it is a good time to buy,* f) H l8 D: U( s: B! c! }" @. H
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,, s' p% S5 L% r+ C2 V9 S% T% o
then they will switch to my line and try to "HouHou" to push the market up.- i( f2 y, C `: p: N) ]
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Human weakness.8 x% K7 P! c' J6 i7 A+ ]" ?' b- J
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Well, we are human, we have it. |
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