It's really easy to get 'comfortable' with your service providers because it's simply a pain to pivot to a new one, but as soon as your reviews start dropping because of the quality they are providing you want to be able to quickly and efficiently move to an another crew if necessary.  

If it's not a good deal then you might end up in a small pickle and have to drop out of contract and lose money (consider it the cost of doing business) and try again.

But to provide some context, during the last recession (2008) prices in most neighborhoods dropped a total of 10-15%, which is very good compared to other major cities in the US. 

Recasting you keep the tenor and payments will drop.

@David Robinson There were a number of factors that made Knoxville appealing for us.1- Mid/Small size city which we are more comfortable (similar to what Colorado Springs used to be) 2- Newer homes in general (i don't have expertise in the challenges associated with 100 year old SFHs)3- Diverse and growing economy (UT, Government Jobs, and Medical to name a few)4- Affordability (Turnkey SFHs are available in the low $200K in great neighborhoods)5- It seems more off the radar for investors than Memphis and Nashville which means less competitionAs for credit score, mine actually dropped from 780 to 760.

Be sure to leave a little wiggle room in the event rents start to drop or vacancies rise. 

Boulder was one of the most resilient markets in the last downturn 2008-2010 (we kept appreciating at 2-3% during that time when values dropped by half in other markets), and we’re considered a safe bet in terms of consistent appreciation (values haven’t gone down in a single year here since 1983 and annual average appreciation has been 6% consistently over the past 40 years).

One way street made it difficult at times to not piss off the neighbors when dropping off materials.

I do not follow them all that much but it should be interesting to see if and how much they drop in price.  

If you're interested in meeting up for a coffee and expanding your network, drop me a message.