I bought my house in Austin 4 years ago.

I was looking toward to the low end of the market around the 140K to 150K price point. I found that I kept getting outbid by the investors. They would come in and offer a cash deal and a closing in 7 days. I just couldn't compete with a 30 day closing and a financing contingency.

I ended up having to up my range to 200K. Once I did that I wasn't competing with the investors. Which over 30 years I guess spending the extra 50K isn't that big of a deal. I still ended up buying below my means. However I know several who that would price them out of the market.