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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.! ~; f/ T1 a+ e, X
However, they are so afraid of the high price then. Now they have missed a great chance to have their first property this year.
N. [4 k: A3 n& }- pIt is always better to buy when it is on the way up than it is on the way down.2 ^ |$ q5 D% g" g/ L2 L
For example, the condo average price is around $240,000 this March, now it is $270,000.1 O9 ], T8 R; l0 q) 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 $240,000., N* J5 I/ g$ Z4 z' z; F# S
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.
4 J% J& W0 K! \7 F wIf 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,# F3 z, F+ S% a2 r5 ?5 v
your mortgage interest rate may have reached 6%.# d9 ^# d+ w# |7 P0 |) p$ m
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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6 V6 y" P6 Q ? h; w1 s: TOK, if you bought this March, $240,000, interest rate 5%. Best deal, total interest in 5years $60,000 Total:$300,000
3 k; G" a5 j/ @. Uif 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
4 h8 c: L6 P* U" Y. Wcondo with $1000/month rent) Total: $344,040& w0 U6 p$ X7 r1 y# k+ |' E
if you buy it next March, $240,000, interest rate 6%. interest(4 Years) $57,600 plus 12 months rent = $12000 Total: $30,9600
2 P: F& E$ _7 N+ I, ?2 hWe can see what is the best, when it is on its way up, worst?when it is prime(peak). x; Q0 s6 b% b2 y) Q7 f3 l
1 x' [- W1 F4 \4 _So, those who have waited, may have to wait another 6 months. However, who can say the price in next March will be $240,000.7 o! J/ j! c% A+ N
Cannot it be $270,000? Cannot it be $280,000?
& _+ q3 Z) }& {1 g7 wSo, when to buy, it is always a puzzle. If everybody know when to buy, what is the world like? cannot imagine.% |/ H" l( a2 d* f: y' @
For me as a property investor, I will always tell everyboy, it is a good time to buy,# L* q2 h- j5 S8 b& A
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,5 v, B# o" O) n1 D
then they will switch to my line and try to "HouHou" to push the market up.% q9 {* A: T: \
% r% v# s- M. u- a( Z( eHuman weakness.
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Well, we are human, we have it. |
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