Current activity in San Antonio market

[Betty Cruz]

I haven't been on the forums in a while, and when I logged in I was surprised not to find many recent local posts about the affects of Covid-19 and the current market in San Antonio. I would love to know what everyone is thinking in terms of activity, opportunity and plans to buy. No one has a crystal ball, but I'm interested in a discussion about the affect of the virus based on what you are experiencing first hand. 

I will go first... so far my tenants are paying (only one has lost her job so far). My Airbnbs are filled (one at a discounted rate) on monthlong rentals. My one vacancy is going on 7 weeks, which is the longest I have EVER had a vacancy. I'm actively looking to buy but haven't found any real deals that I was hoping to come across.

[Seth Teel]

@Betty Cruz  Aside from STRs vacancies, and lots of landlords reporting no rent, COVID-19 has not been in play long enough to really affect our market...YET.  Retail home sales have remained steady, as have home prices. Days on market have increased, however that trend was already occurring prior to COVID-19.

I'd had several investors reach out asking about the awesome deals. Their assumption being all the noobs are getting out investing, and homeowners want to sell because they need fast cash.  I have found this to be the case at all.  

As this weirdness continues I believe we will see some real market fallout, but i think we are months away from that happening.