LUBBOCK, TX property: sell or hold?

[Edita D.]

Hey guys!!

We have a 3 br rental, 1550sq ft, (in FISD convenient to TTU & Medical District), bought for 125K a few years ago, currently rented for 1450/month. Our PM just informed me there are NEW 3 br homes (bought for 140K) that are renting for 1350-1395$/month, and that our PM is getting lots of inquiries about those new rentals. Anybody had to decrease their rents on their older homes? Our rental is in a really good area, so I still think we can charge 1450, but I am not there, so plz share what's up with Lubbock RE.