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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.
$ ]# l0 p% m& `( E vHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
6 h7 k4 l2 R! E7 Y# hIt is always better to buy when it is on the way up than it is on the way down.6 |# H* `, e% B; }/ @& J+ f/ I
For example, the condo average price is around $240,000 this March, now it is $270,000.! ~7 V" Q4 [( d9 F- ], f$ R$ n
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 $240,000.2 |* d( B9 k. Z0 [* Z w7 a
I will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.0 ^5 @ y. ?2 Q* d
If you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,9 I# W- r9 T% ^# h
your mortgage interest rate may have reached 6%.
6 b6 v- ~+ O0 z( c& k- rHouse market will not go down if the interest rate is low, so if you want to buy a low price house when it is over priced, you will have bear the high interest rate., Z4 E6 K5 B" y5 J8 _
- S) G& a- j+ I* }$ u' kOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
4 u& i( s |- D4 Q$ A2 z/ K- S# qif 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
1 _+ ^+ H ^6 W* N- Icondo with $1000/month rent) Total: $344,0406 c. ?- [1 b+ G4 E% W* M
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600( c" ~+ ]8 s7 S! Y, f
We can see what is the best, when it is on its way up, worst?when it is prime(peak).% K# D& f4 B7 C
! `( `0 {$ i- c9 C. ]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.& P! r" O( e! R5 s2 J
Cannot it be $270,000? Cannot it be $280,000?4 M# F' P" ?& A) t! P7 q
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
+ Z! r3 C0 j/ p4 ~7 cFor me as a property investor, I will always tell everyboy, it is a good time to buy,
. C' k3 A* W# r7 Y: ?/ e! ]# x7 BFor 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,
[" Y4 Y1 Y( o4 Xthen they will switch to my line and try to "HouHou" to push the market up.
3 h1 X& c# J6 [# Q, [; }! u& P5 a) ^9 T" y7 [6 G, {5 u! I2 d0 o
Human weakness.0 J ?5 Q1 x, H: g4 U' o
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Well, we are human, we have it. |
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