I learned my first lesson on blogging. Never promise to do a blog three times a week and then get sick. Sorry but I was down and out with a cold/flu. A real bummer with this great spring weather.
We were going to talk about the price volatility index and the price appreciation index. I could give you the long technical explanation but I really do not want to put you to sleep. Believe me it would. If you want the technical explanation drop me an email and I will send it to you. Suffice to say that they are indexes calculated from recent data (from two previous quarters to five years) to predict how prices will react in the near term future (two years out). The predictions for the Houston-Sugar Land-Baytown MSA are good. They show no disasters on the horizon. Price acceleration shows some signs of slowing but the good news is that price volatility is very close to stable. No wild downward price crashes similar to what has happened in Florida, California and Arizona are expected.
So what is keeping people from buying? They only thing I can think of is gas prices, the news media, fear itself and of course credit scores below 620. Interest rates are experiencing the normal weekly up and down swings but are still very low. FHA is offering some great programs for buyers with minimal down payments. They are very good deals with low interest rates. And if you have a credit score below 620 those problems can be addressed also. Just drop me an email if you would like to know more about that.
Now that I am well again and have experienced my once-a-year illness I will be getting these out three times a week.
Have a great day.
Ron