Phoenix rent growth is actually still increasing, where most of the country is seeing declines.

My question involves obtaining property insurance to protect against a decline in value of the property.There are 2 economic interests in the risk assessment the need to be insured against.1.

In 1989 I purchased a property and the market rents declined over several years by more than 20%.  

They want my cousin to give them an offer and they said that they would either except or decline it.

At the end of the day, enrollments may decline but unless the university shuts down there will be a need for student housing.

The airport is also a bit weak for international travel especially.While I believe Austin real estate will continue to appreciate, I also expect the growth rate to decline.  

Should i wait for another decline in the market before i buy my first property?

hi mike. what you have going on here is a property that has not met the reserve price. in cases like these, the top bidder is no where near the reserve price. if you are the top bidder, auction.com will contact you and offer you the house for near the reserve price. in these cases, the top bidder declines and the house hits the auction block again. you need to be the top bidder at the end of the auction. i personally have had them call me and offer me the house for a few thousand less than their reserve price, which i counter offered at a few thousand over my price. we met in the middle and i still got a pretty good deal. 

Even if your home was one that declined in value during 2011/2012, unless you paid way over value for it when you acquired it...it's got more appreciation in it over the 5 years since you bought than $16,000.

If houses are sitting vacant for long periods between tenants, and prices are declining, I would encourage you to look at other markets.The final thing to remember:  Just because there's always a deal somewhere doesn't mean that there's always a deal everywhere.