Austin - large offers over asking

[Stephen James]

I'm noticing that in January, houses seem to be going for way over asking price, even compared to 1 month ago in December. Looking at stats I saw houses going for 30-40k over. Now they're starting to go for 60-70k over plus full appraisal waiver which would be tens of thousands extra on top of the down payment. 

How do you buy a house in this market without feeling like you are getting "taken" ?

Is Round Rock any better right now?

I did see this article here which says Austin is one of the worst in terms of bidding wars: https://www.biggerpockets.com/... 

Feel free to DM me as well if you have any advice, it will be MUCH appreciated!!!

[Vik J.]

Stephen - I'm an OOS investor here. Unfortunately, this "getting taken" can happen in any industry anywhere in the world. I totally get what you're saying, but all I do these days is just evaluate a home as an investment - if I feel I'll make dosh off of it, I go for it or I say no. Right now, the core Austin area really does feel like a rip-off. As you said, not just in terms of the price, but also all the drama with overbidding and waiting and praying and ...... etc. etc.

I just ask myself this - can I put this money elsewhere for a bigger gain?