Seems we could be at risk for some type of interest rate spike in near future?

High end got clobbered as you will recall 50% in some cases.. my brother in law bought a home in LA hills that was worth 2.5 in the mid to late 80's and he got it for 1.2 in 1993.. it bounced back to 2.5 by end of 90's then shot up to 4 mil... then 08 it probably came back a little but I am sure its right back up to 4 to 5 mil..the dot com created spike in value late 90's then the dot com bust dropped prices then they came roaring back and by 2006 to 2007 made new high... then the 08 09 crash.. and it retreated again only to come storming back as you said with the google facebook and all other manner of high tech expansion and profitability.. to make new highs..

A spike in interest rates may push them off the fence....  

Tax appraisals aren't 100% accurate, but unless that house has been rehabbed in the past 2 years, that seems like an awfully big price spike.

We would need to see a serious spike in NOD's before I would consider it a major factor that would change the market.The robosigning bill they refer to is AB284 that was passed in Oct 2011 (almost 4 years ago).

If so, how large of a spike is a part of the calculation? 

We have 7 properties in the Heights area, and a few off Gessner.Houston no longer feels like an investors market due to the spike in values.

When the world central banks (including the Federal Reserve) can no longer keep the dollar propped up through treasury bill auctions, we'll likely see a spike in interest rates tied to those securities.

Unlike Dallas, Houston, & Austin, San Antonio does not have the severe spikes in property values, nor does is have the quick drops.  

See if that spikes interest, if not... its really going to be about what that money is worth to you by getting it 6 months early.