Think these prices will hold? (Austin, Howe: rent, house, buying)

[FueledByBlueBell]

Yeah, I know that market is hot, but is it too hot to buy? We sold but not sure if we shouldn't wait it out and rent for a while. Thoughts?

[EzPeterson]

Obviously, it depends on the area. I'd say November/December will likely be the last chance to "buy low" for the next 3-4 years.

[Parksider]

I think it's a blip that's happening in certain areas. There are still great deals to be had in Austin right now.

[atxcio]

I think you'll always get a better deal if you can wait til after September and find a motivated seller. That's the key to a market like this -- the overall trend is slowly upward, but because it's a slow uptrend you can easily make up for it by making a lower offer and getting a good deal. However, to do that you have to avoid the really crazy times when everything is getting multiple offers; otherwise you will pay top of the market.

Just remember the traditional thinking that you don't buy a house for quick gain in 2-3 years. Again, with the slow rise in this market, this idea should still work. The difference between buying at a peak in Austin and buying cheap works itself out in a few years.