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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.4 n+ q2 e4 o( @7 d4 l
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
6 ~1 v. u0 n) V% zIt is always better to buy when it is on the way up than it is on the way down.8 R, K. P" d% X, E1 l
For example, the condo average price is around $240,000 this March, now it is $270,000.6 K- g: f! L1 ^+ t
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.
6 t" L p8 B. }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.3 J* I% ?: \' }, M
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,
& Q4 c: b! B" {7 Iyour mortgage interest rate may have reached 6%.- B' p2 d; o2 J8 p
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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) k) P3 w+ M9 t; e& cOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
- D/ ]9 h: w* h. 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
! n: a7 |' ^- s& [, V0 acondo with $1000/month rent) Total: $344,040
% v9 _+ c ^7 |: c4 v% Lif you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
$ l# c9 p# G [0 E5 p* i b2 U. @We can see what is the best, when it is on its way up, worst?when it is prime(peak).
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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.
' w/ p5 I# B/ s" C) DCannot it be $270,000? Cannot it be $280,000?3 t% S- t1 o+ ~
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
o, Q7 F: e, Q1 yFor me as a property investor, I will always tell everyboy, it is a good time to buy,
5 Y( P+ T/ C" I8 ~2 w3 J _ T2 sFor 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,
. N6 }/ l' h. Q4 V/ \; U1 j+ Pthen they will switch to my line and try to "HouHou" to push the market up.1 g8 d6 u0 H4 \8 a7 y- y' J. d
% m& V4 t* y- D% W9 RHuman weakness.
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7 r& Q( X& D4 k1 `4 mWell, we are human, we have it. |
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