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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.
" @" D8 G7 v2 R/ ]However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
( L \2 X* F( i1 D: F4 L$ r. KIt is always better to buy when it is on the way up than it is on the way down.
, U# h8 Q3 `# N7 N+ o1 x0 dFor example, the condo average price is around $240,000 this March, now it is $270,000., F7 _9 v) p: `9 P2 m
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 $240,000.! U3 ]5 k4 j8 k/ j4 Q Z0 g8 ]% K
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
& L$ U; A8 C( C- Q) Z. mIf 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,8 A' W6 J; U3 S- N' p! j; T
your mortgage interest rate may have reached 6%.
- L4 Q6 o7 p/ S* bHouse 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.: r( I9 a; S9 L0 V0 E6 D
5 e2 O/ B6 o' F( e) o$ x; fOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
. C2 n1 b8 Q* y0 _9 J7 n- tif 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 + l+ ~2 J/ \! N. O
condo with $1000/month rent) Total: $344,040: q' e' f- N8 a' @; s1 w" {+ s& [3 Z
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
* a; Z$ v& B- L" Q8 x t, CWe can see what is the best, when it is on its way up, worst?when it is prime(peak).: K8 [" _- |. u
# o0 @# O# v* C$ S xSo, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.
: _/ E6 G; ?# j; \0 jCannot it be $270,000? Cannot it be $280,000?: S% _( {9 ?2 h8 Y
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.- c* X# q: v3 Q- N" C
For me as a property investor, I will always tell everyboy, it is a good time to buy,* [7 ` y. C+ X# ~ L
For those without a house and try to buy a lower price one, will always try to convince people not to buy, then the market will go down,; Y1 }% H. F) F) c7 t
then they will switch to my line and try to "HouHou" to push the market up.) x; ?3 u, e( }" D4 x8 b
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Human weakness.- _4 m7 b2 y' t% y5 C1 u$ y# C8 E, n
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Well, we are human, we have it. |
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