When there is a glut, there is a race to the bottom on price, because that is really the only thing that will distinguish you from the other thousands of properties.

And a lot of start-up companies are migrating to this city as well because of the OSU campus that has thousands of talented students graduating and looking for positions locally.Everything that’s going on here in Columbus is attracting investors and other businesses from all over.

Some owners don't want to put out tens of thousands more to outfit a high quality STR. 

Literally just recorded a webinar on this yesterday.

We have 3 months left of 2024 which means now that the rates have spiked down hundreds of thousands of people will come to the market with an offer.A large number of new home buyers and investors means multiple bids and offers plus more coming in over asking price.

These folks literally didn't even try to sell the house because they just couldn't deal with cleaning it out.

"it's more expensive" - so is buying a bad deal thousands of miles away.

There are also thousands of investors who are competing for that market. 

This is for sales and if you need to hold for awhile due to a market change in pricing.I did a flip in an area that was a secondary market, and basically lost a couple thousand on the flip not following this rule of thumb..

I have thousands in suspended passive losses. 2 of my properties are actually in Spring just north of you Michael.