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I bought my house in Austin 4 years ago in a pretty hot market. The advice I can give is don't let yourself get emotional. If you get outbid on a house, there will always be another one you can bid.

I ended up putting in offers on 8 houses before I didn't get out bid.

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I've been watching one particular neighborhood within my city (to be more specific, a specific section within a neighborhood), and it's had about 4 sales in the past 3 years. I can only imagine how many of those were investors were deep pockets, and if I'll ever have my day to compete with them. In the meantime, I'll continue building my down payment fund.

The neighborhood is predominantly aging Boomers, so it's possible in a decade there will be increasing sales volume, providing a better opportunity to get in.

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