San Antonio heading for a Micro Bubble

[Joe Davalos]

Over the last few months I've read about our market heading for a price correction. Forbes in July 2017 listed San Antonio as the number 1 overvalued city in the US and our neighbors in Austin as number 2. Just yesterday at a national REO conference Five Star the president and CEO of Five Star Ed Delgado called out San Antonio and a handful of other cities to pay attention to in 2018 regarding regional or micro bubbles Is it time to panic. No it's a time to pay attention yes. I for one will not change my goals for 2018. I will buy houses at a better price point to offset any market correction. I do not have a crystal ball but i doubt it will be as severe as 1988 or 2008. I have been an investor and realtor since the early 80s I lived through both housing crashes and did well the first crash buying and selling REOs and did extremely well the second crash selling a little over fifteen hundred REOs during 2008 through 2012 as a REO listing broker. If anything I am going to increase my marketing as real estate is also psychological and news outlets like to exaggerate so some sellers should become more realistic when it comes to values if market corrects itself. If it happens it happens and if it doesn't it doesn't. The strong will survive regardless