With crazy low interest rates + ridiculously low inventory in the area (1.3 months of supply), sellers are basically getting full to above ask price across the board.  

I supplied him with this information and I was told by the lender that the rent isn’t used for appraisal purposes.

Per Jhoana Olarte just an hour ago on another thread: Following a strong performance in June, single-family home sales soared into record-setting territory in July, leaping 23.0 percent year-over-year with 10,975 units sold – a record one-month sales volume;-The Days on Market (DOM) figure for single-family homes expanded from 51 to 56 days;-Total property sales soared 25.0 percent with a record-setting 13,043 units sold;-Total dollar volume shot up 33.8 percent to $4.1 billion;-The single-family home median price set a new record high of $271,830 as it rose 8.7 percent year-over year;-The single-family home average price jumped 8.5 percent to $338,350 – also an historic high;-Single-family homes months of inventory was at a 3.0-months supply, down from 4.2 months last July and below the national inventory level of 4.0 months;-Townhome/condominium sales were flat, with the average price up 9.9 percent to $223,190 and the median price up 12.3 percent to $183,000;-Single-family home rentals rose 2.9 percent with the average rent up 1.8 percent to $1,940;-Townhome/condominium leases increased 6.9 percent with the average rent unchanged at $1,659.Source: HARShe just posted this information and will, more likely, get a great response.  

What do your pro forma models show you can pay for equity if you supply an investor a 18% or so IRR? 

Following a strong performance in June, single-family home sales soared into record-setting territory in July, leaping 23.0 percent year-over-year with 10,975 units sold – a record one-month sales volume;The Days on Market (DOM) figure for single-family homes expanded from 51 to 56 days;Total property sales soared 25.0 percent with a record-setting 13,043 units sold;Total dollar volume shot up 33.8 percent to $4.1 billion;The single-family home median price set a new record high of $271,830 as it rose 8.7 percent year-over year;The single-family home average price jumped 8.5 percent to $338,350 – also an historic high;Single-family homes months of inventory was at a 3.0-months supply, down from 4.2 months last July and below the national inventory level of 4.0 months;Townhome/condominium sales were flat, with the average price up 9.9 percent to $223,190 and the median price up 12.3 percent to $183,000;Single-family home rentals rose 2.9 percent with the average rent up 1.8 percent to $1,940;Townhome/condominium leases increased 6.9 percent with the average rent unchanged at $1,659.Source: HAR

https://www.har.com/content/newsroom/Houston Real Estate Highlights in July:-Following a strong performance in June, single-family home sales soared into record-setting territory in July, leaping 23.0 percent year-over-year with 10,975 units sold – a record one-month sales volume;-The Days on Market (DOM) figure for single-family homes expanded from 51 to 56 days;-Total property sales soared 25.0 percent with a record-setting 13,043 units sold;-Total dollar volume shot up 33.8 percent to $4.1 billion;-The single-family home median price set a new record high of $271,830 as it rose 8.7 percent year-over year;-The single-family home average price jumped 8.5 percent to $338,350 – also an historic high;-Single-family homes months of inventory was at a 3.0-months supply, down from 4.2 months last July and below the national inventory level of 4.0 months;-Townhome/condominium sales were flat, with the average price up 9.9 percent to $223,190 and the median price up 12.3 percent to $183,000;-Single-family home rentals rose 2.9 percent with the average rent up 1.8 percent to $1,940;-Townhome/condominium leases increased 6.9 percent with the average rent unchanged at $1,659.

The pricing is the perfect capitalist system: supply and demand. 

As long as the world’s supply of land is diminishing and people need homes to live in, it's bound to be stable.

Frustrations exist in supply-chain and adoption, but many solutions are surfacing. 

There are currently only 1.4 months of supply which will continue to drive prices up.