Just went under contract for a sfh in Austin. 4.6% rate. Price point is high , at the top of my budget , but seems better than comps. Anyone have a crystal ball and can either reassure me or tell me I caught a falling knife? ;)

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What’s your timeline? Five years? Should be fine.

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Yeah at least, the lot itself I believe has good value (it’s in central Austin) and could be expanded / rebuilt in which case we might stay even longer

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As an agent and investor, I think you’re fine. Most likely prices level out for a year or so and then it’s back up over the medium term, especially in a place like Austin.

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Companies are still relocating to Austin so long term likely ok. How much was the property?

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The new Bay Area. Wonder what that would have sold for 3 years ago

As long as you can see yourself living there for at least 5-7 years, you’re totally fine. If you’re time horizon is shorter than that, then there might be a little trouble.

You mentioned at the top of your budget, will you still have breathing room after paying your mortgage to save up for emergencies/investments etc.?

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Then you’re more than fine. Best of luck. And congrats on the new home!

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You caught a falling knife by the handle!

Pull it up nicely and slowly…

I don’t know what that means but it sounds like good advice!

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Where’d you get a 4.6 rate? I have an 800 credit score and am being quoted mid 5s for a 30 year

Look at the local lenders not the big names / online advertisers . Suggest you connect with a good local agent who knows who can get you the best rates. Also note we are in a jumbo portfolio loan , which I believe needs to be $700k + . Rates may be higher at a lower price point

Prices in Texas are not going to drop, ever. They didn't budge during 2008/2009 crash either.

Prices in Texas did have a big drop in the 2008/2009 recession

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