Austin RE market predictions
Folks, I appriciate an opportunity to ask a question to more expierenced investors and realtors than myself.
What do you think the market will do in Austin? More decline?
My personal feeling (and I am mistaken in most of my predictions) is FED slows the rate and starts rate drop this year. Now RE market will continue to drop till December and in January it will make a sharp jump.
Am I right? What is your planning?
I am sitting on an offer, which is not too good but not too bad. Need to decide what to do with it.
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
What is keeping Austin afloat is the low inventory. Demand will shrink the more interest rates go up. Long term, Austin is a great investment.
@Olga Daisel If you can hold onto the property I would as next year around April I think we will see a big jump in prices as that is when I see the interest rates coming back down plus demand is low in winter months. Once August rolls around here in 2 months we won't see increases in price till March. For me, the time to buy in Austin are these next few months where prices are much lower simply because of interest rates. Many people are on the sidelines just waiting. So best to jump on the low price and refinance to a better interest rate after a year.
