If continuing at that rate, it would be down to 4.2% by the end of 2016 - and only breached that level in the hot '99/2000 market, which is the lowest unemployment watermark for almost all areas.

Also, they only charged about $100 (labor) for an emergency hot water heater removal, trip to HD, and installation.

Because beer and hot pockets are expensive.

All they know is that buyers are still competing for properties and that it's a hot seller's market.

Since the house is a foreclosure there are a lot of issues such as:Downstairs(basement)If anything is missing or broken on the walls its going to need sheet rockTile on the floorsFurnace / hot water needs to be re-pipedMain floorWhole interior of the house needs to be repaintedTile on kitchen floorNew appliances / cabinetsLaminate floorGranite counter topRecess lighting1/4 inch sheet rock on the top of the kitchenBathroom re-tiledStairs re stained UpstairsNew door for bedroomsNew light fixturesSame laminate floor downstairs used upstairsCompletely new bathroomOutsideRoof needs to be fixed (not replaced)Foundation needs to be paintedFront porch needs to be touched upSo basically that is what needs to be done for the house.

I hope it gets too hot and burns out.

I know that the Austin market is hot, so there is some speculation involved in the valuation.  

Check it out:I can tell you the market is white hot right now...we  are having trouble securing a duplex...the sellers have the upper hand right now.http://www.realestatepromo.com/Site/PropertyDetail...

The market where I live is so hot that often if you ask for inspections you won't win the house.

We may be working out an owner finance deal.The question is, what are some creative options that I should consider for the use of the building without having to spend too much money in renovations.For example, turning it into lofts can be very profitable but will cost way too much.Some ideas I can think of is crossfit space, maybe an event venue (weddings, etc), what else is hot in the market for warehouses????