Austin investment-frustrated not sure what to do

[Prash Manohar]

Hi all, lost 7 offers in north Austin last 45 days despite going 20-25K over asking..on SFH. My agent is indirectly forcing me to explore south -Buda/Kyle, what do you guys think of long term appreciation and renters? More vacancy rate compared to north Austin? is it equally horrible down south?

[Ryan Kelly]

@Prash Manohar If you don't want to offer more than $20k-$25k over asking in your contracts currently, this is not a good time to try and purchase a property. Austin has the lowest number of active listings in its history, with properties getting 30-90+ offers and going under contract $80k-$150k over the list price on average. Wait until March-April when all these crazy sales close and create new comps for these neighborhoods. The new list prices this spring will better reflect the actual market, many buyers will have to reshift their strategy based on these new prices, and most importantly, many more listings will hit the market because we'll be in the more popular spring months for listing homes. Stay patient, better opportunities will surface at some point.