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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.
/ ^' N# ^; m+ G# V$ ^+ W0 k+ RHowever, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year. u1 P3 z& X, D) n9 c& P' V) ~
It is always better to buy when it is on the way up than it is on the way down.
1 Z3 q5 r n. M% X8 QFor example, the condo average price is around $240,000 this March, now it is $270,000.8 m: c/ A9 m& I$ N1 d8 B
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 $240,000.
x( T5 k6 i4 b7 {. GI will give it another 6 months if the market go down x months in a row. because house is not like stocks, it cannot go down too fast.
& P O. z* m W9 {. f4 [" JIf you have purchased that unit this March, you will get the interest rate at 5.0. If you get it now, you may get 5.6. If you get it in 6 months,( _) n& P9 E, y, k$ X! f; U
your mortgage interest rate may have reached 6%. @- n: t8 g* W/ U: U& @
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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! U: F$ {) X. x7 c! D/ k! ^4 xOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000 _1 j6 P: ? `2 v |# u& ]) V; B
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 / L2 f4 Q, z* \
condo with $1000/month rent) Total: $344,0403 E0 p" f4 z( f) E( Z
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
+ O$ @1 \0 D! v% ?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.# O X- E+ f M
Cannot it be $270,000? Cannot it be $280,000?+ @1 z4 S. L: F) t* Q
So, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.
8 M: i* H; ~4 s5 B& hFor me as a property investor, I will always tell everyboy, it is a good time to buy,3 T+ P9 u. k+ t* ]' r7 N
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, }2 @; J1 d: m% Q9 l0 g
then they will switch to my line and try to "HouHou" to push the market up., h5 t2 j% x: u, W* S
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Human weakness.# M& ~- ]/ q0 c/ ?
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Well, we are human, we have it. |
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