Austin Home Sellers IN SERIOUS Trouble! Buyers Taking Advantage! 

6-mon inventory is a buyer's market for Austin, period. The last 6-mon inventory is Jul 2011. Austin typically has less than 3-mon inventory in the last ~10 years before 2024.

Reventure guy called it2 years ago when Austin was at the peak

7% is the new normal. I expect a range between 6.75% - 7.5% for the foreseeable future.

Crime in Austin. Wow. When a house in Cedar Park was 125k for a 4/3 it was like yeah i'll deal with it. But now??? NOPE

Yeah, we have our house on the market. Been sitting for 2 months with about a $90K drop as of the start. We get people at the open houses, they love the home and say the price or concessions are good, but never put in an offer. Buyers just seem to be waiting on the election or Fed to drop rates, but neither is guaranteed to make a (positive) difference. At some point, the house prices simply cannot go down anymore as people are not going to sell at a loss, unless absolutely needed. I'm seeing crazy price drops so sellers are willing to deal...but the buyers aren't there. Might need to lease out the home, but that's its own can of worms, not to mention like I said, there's no guarantee we'll be in a better position in 6-12 months. We're willing to negotiate a good deal with someone, but we can't even get to that point. 90% of pending and closing is new construction, new construction, and new construction (regardless of price).

I still got an amazing deal in December sometimes I think I made the wrong choice but I've not seen a deal as good as the one I got....... but winter is coming.

We’re so blessed to have affordable homes in the Austin metro. In Vancouver Canada metro 45 min outside the city you pay the same for a tiny one bed wood frame condo as a detached home (after currency conversion*). Upward mobility and the American dream is still alive for the action takers

Buyers (like myself) are waiting for the knife to fully drop, not catch it while it's falling. We're not waiting for lower interest rates. We have a recession coming. Buyers would be an idiot to make a move now and a good Realtor would recommend they wait.

Is it 95% of the current list price or of the original list price. It makes a difference if it’s the current list price because it doesn’t take into consideration how much it is down from the original expected profit

It may not be a buyers market in Austin, but everywhere around Austin is a buyers market - a glut of housing equals a buyers market. There's only a certain percentage of people who can afford the Austin market, the larger percentage is buying in the surrounding areas.

In March, we sold our house in NC, well above asking. We wanted to buy here (Plug Lake area), but we are glad we decided to rent a year. Every national real estate pundit is always talking about how bad Austin is. So many available houses are empty.

They are seriously screwed - instead of 300% profit after few years, they will have 250% profit. Boo Whoo....

People don’t buy hence developers don’t develop. Fed prints more money per usual. Buyers go in expecting deals. Inventory is tight. Prices go up and people get left out. Repeat cycle. The real question is-> Will the government stop printing money ? If so then save cash and buy out right.

What's going on with buy & hold investors in Austin right now? I remember asking you guys on a podcast around 3030/21 why you would buy a rental that doesn't cashflow and you guys poo-pooed cashflow. "It's all about the appreciation! Why do I care about $200 a door in cashflow?!" I didn't respond, but maarkets like this are why. I can hold onto unlimited rentals making $200/mo forever until the market turns. How many and how long can you hang onto when you're paying $200+/mo to own it before you cut bait and take that big L?