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Old 05-23-2021, 06:22 PM
 
Location: Austin, TX via San Antonio, TX
9,851 posts, read 13,698,680 times
Reputation: 5702

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Quote:
Originally Posted by TexasRedneck View Post
Speculative "investing" comes with its' own set of pitfalls. What most of these investment groups fail to appreciate (just as they did in the 80's) is just how much undeveloped land there still is in the SA Metro area. As more end users drop out of the bidding wars, the normal cycle will try to revert - and the influx of investors will suddenly find themselves with properties that won't support the high prices they paid on the rental income, and then they'll start unloading. May not happen this year or next - but mark my words, it WILL happen - and then we're going to see another bubble burst.
Personally, I'd counsel sitting on the sidelines until then...and enjoy the show when it happens. No need for ill will or angst against those driving this insane run-up in the market - their time is coming.
Maybe even hold out and pick up one of those investment properties that they try to dump. I still dreamily search Zillow for houses that I could hypothetically afford here, primarily in the Medical Center, Walker Ranch area and the 10/De Zavala area since those are the areas I'd want to be. There's no way in hell, if my finances were in order right now,that I'd jump into this now.
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Old 05-23-2021, 07:22 PM
 
67 posts, read 48,385 times
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Quote:
Originally Posted by ashbeeigh View Post
It's the Austin way. Y'all are going to fight it as hard as you can, but those who can't afford Austin but want to live in "Austin" will soon be calling Schertz a suburb of Austin and moving there because Kyle and Buda are full.



I don't think there's anything else anyone familiar with San Antonio will tell this bro that will change his mind. He'sgoing to attempt to purchase an "investment property" even though there are Investment companies that are buying thousands of them daily. He'll come back in a few weeks and complain about not winning any bidding wars.
I dont need to be in any bidding war, some of the developers said as long as i place a deposit, i could 100% have a house by end of the year. I dont foresee any bidding war currently (for new builts), but cant promise in the future. Glad i got in early.
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Old 05-23-2021, 08:30 PM
 
Location: Austin, TX via San Antonio, TX
9,851 posts, read 13,698,680 times
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Quote:
Originally Posted by Austinite888 View Post
I dont need to be in any bidding war, some of the developers said as long as i place a deposit, i could 100% have a house by end of the year. I dont foresee any bidding war currently (for new builts), but cant promise in the future. Glad i got in early.

Cool. What are of town are you working on closing on?
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Old 05-23-2021, 08:44 PM
 
Location: New Braunfels, TX
7,130 posts, read 11,836,061 times
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Unless you've already begun construction, got news for you - your costs ARE going to increase.
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Old 05-23-2021, 08:57 PM
 
2,382 posts, read 3,501,700 times
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Quote:
Originally Posted by TexasRedneck View Post
Unless you've already begun construction, got news for you - your costs ARE going to increase.
Pretty soon, Lowes and Home Depot will have valet parking, a cover charge, and a dress code.
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Old 05-23-2021, 11:45 PM
 
67 posts, read 48,385 times
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Quote:
Originally Posted by TexasRedneck View Post
Unless you've already begun construction, got news for you - your costs ARE going to increase.
lol, i think all investors are prepared for this. The builders themselves have told us (lumber cost is the most common reason).
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Old 05-24-2021, 05:59 AM
 
Location: Austin, TX via San Antonio, TX
9,851 posts, read 13,698,680 times
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Quote:
Originally Posted by Austinite888 View Post
lol, i think all investors are prepared for this. The builders themselves have told us (lumber cost is the most common reason).
How do you plan for that big jump? When you are talking to the builder today and it’s at your max of 250k and you get your stuff together and it jumps to a 400k house due to lumber costs? That’s exactly what is happening in Austin.
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Old 05-24-2021, 09:44 AM
 
Location: New Braunfels, TX
7,130 posts, read 11,836,061 times
Reputation: 8043
Quote:
Originally Posted by ashbeeigh View Post
How do you plan for that big jump? When you are talking to the builder today and it’s at your max of 250k and you get your stuff together and it jumps to a 400k house due to lumber costs? That’s exactly what is happening in Austin.
If they're telling you it went from 250 to 400 because of lumber, they're lying through their teeth. Lumber has not gone up THAT much.
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Old 05-24-2021, 10:14 AM
 
Location: Austin, TX via San Antonio, TX
9,851 posts, read 13,698,680 times
Reputation: 5702
Quote:
Originally Posted by TexasRedneck View Post
If they're telling you it went from 250 to 400 because of lumber, they're lying through their teeth. Lumber has not gone up THAT much.
Lumber in combination with demand, probably. There's a thread going on in the Austin forum where someone mentioned a house started in the 450s in January and in April was in the low 600s. But, this is the literal hottest area of Austin.
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Old 05-24-2021, 03:48 PM
 
67 posts, read 48,385 times
Reputation: 32
Quote:
Originally Posted by TexasRedneck View Post
If they're telling you it went from 250 to 400 because of lumber, they're lying through their teeth. Lumber has not gone up THAT much.
Gosh i hope it will not go up so much, beause i really like NB haha. I have ask some investor friends in austin and it seems they are not so keen on NB as it is too "far" for them. Hopefully, the interest in NB does not increase much, because i hope to get my 250-260K house.
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