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Old 04-06-2015, 08:52 PM
 
24 posts, read 34,711 times
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For the past 2 years, there were steep increases in home prices within desirable areas of Austin (20%+ appreciation). Do we think 2015 is the year the market stabilizes? Or probably even have a healthy correction in the next 2 years? Factors such as a stock market correction or interest rate increase could be catalyst. Or the local employment scene along with people migration from CA and north east will keep it going?

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Old 04-06-2015, 09:27 PM
 
Location: Central East Austin
615 posts, read 781,463 times
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I don't see any signs of the market slowing. Everyone I know who is looking for houses in central Austin is encountering situations where properties have multiple offers (sometimes up to 10). And these are houses that have been on the market 1 or 2 days.
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Old 04-06-2015, 09:40 PM
 
625 posts, read 1,134,499 times
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Not really, according to the latest data.
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Old 04-07-2015, 08:46 AM
 
436 posts, read 571,139 times
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Quote:
Originally Posted by mayfair44 View Post
Not really, according to the latest data.
Good, had me worried there for a second. Last thing I need is a housing bubble burst before I can sell.
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Old 04-07-2015, 09:12 AM
 
7,742 posts, read 15,135,731 times
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Put a full priced offer on a house in 78759 last week. Offered lease back with favorable terms, no contingency on financing, no contingency on inspection etc. Lost it to an offer that was "substantially" higher. This was on the 3rd day.
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Old 04-07-2015, 09:55 AM
 
198 posts, read 318,717 times
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Quote:
Originally Posted by RunninJT View Post
Good, had me worried there for a second. Last thing I need is a housing bubble burst before I can sell.
Oh, we are definitely in a bubble. The only question is when is it going to burst .
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Old 04-07-2015, 09:58 AM
 
298 posts, read 945,648 times
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my sister just got 4 offers in first 2 days of house going on market...one for $30k above asking...it's getting ridiculous...but they needed to downsize so it was the perfect time!
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Old 04-07-2015, 11:05 AM
 
Location: Greater NYC
3,176 posts, read 6,219,691 times
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Quote:
Originally Posted by Austin97 View Post
Put a full priced offer on a house in 78759 last week. Offered lease back with favorable terms, no contingency on financing, no contingency on inspection etc. Lost it to an offer that was "substantially" higher. This was on the 3rd day.
Do you think it was just your offer and the winning offer or were there multiple offers? Would you describe it as a bidding war or did you each just make one offer? I can't help myself; I like hearing these "from the trenches" anecdotes.

There are quite a few 600/700K homes going on over there (Westwood and Anderson), I don't save them but I see them come and go. More than high 400s and 500s it seems.
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Old 04-07-2015, 12:18 PM
 
1,559 posts, read 2,400,832 times
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I wonder if we could sell our central Austin home now and rent back for a year since we have to say in Austin a bit longer than originally planned. Anyone heard of that arrangement before?
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Old 04-07-2015, 12:32 PM
 
Location: central Austin
7,228 posts, read 16,110,862 times
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Quote:
Originally Posted by orngkat View Post
I wonder if we could sell our central Austin home now and rent back for a year since we have to say in Austin a bit longer than originally planned. Anyone heard of that arrangement before?
It happens all the time for shorter intervals, anywhere from 1 week to 3 months. An investor would probably go for year rent back but anyone else is unlikely.

Edited to add: your home will probably sell just as quickly next year and for more $$!
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