The EDGE: Week of November 21, 2011
Post on 17-Feb-2017
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Positive Economic IndicatorsThe Houston area added 79,500 jobs over the past year, according to the latest report from the Texas Workforce Commission.That represents a 3.1% year-over-year increase, marking the largest growth in jobs since February 2008 before the economic downturn set in when the annual job growth was 3.5%.The biggest hiring advances were in the oil and gas industry, manufacturing and health care.The National Association of REALTORS just reported that existing home sales nationally rose 1.4% in October, putting those sales on track to surpass last years the lowest level in 13 years.While sales are improving, they remain weaker than economists and housing analysts had anticipated given that 30-year mortgage rates in September and October fell below 4% the lowest level in at least 60 years.National median prices fell to $162,500 in October, down 4.7% from one year earlier.
Urgent Safety Alert for REALTORSThis past weekend, two of our REALTOR members from large, well-known firms were held up at gunpoint in the Lakeview Forest subdivision near Briar Forest and Kirkwood in West Houston. The buyers agent was helping the listing agent from another firm to remove some items from a home that is scheduled to close at the end of the month. While the buyers agent was in the house and his son was on the roof removing a satellite dish, the listing agent was approached by an armed man in the driveway who ended up robbing both the buyers agent and listing agent. The robber then put his gun to the listing agents head, put her in a choke hold and instructed the buyers agent to back her truck down the driveway so he could use it as a getaway vehicle. Fortunately, no one was physically harmed more seriously during the attack.
HAR has consistently issued warnings and safety reminders, so we wanted to make sure to share this with all of our members so that you may take whatever precautions are necessary to ensure that you, your clients and your family members are safe. If you see something suspicious, please leave the area and contact your local law enforcement officials immediately.
The HAR Account Manager gives members access to view and change contact information online and to view and pay invoices online. In addition, members may view their TREC license expiration date, the email address and phone number where leads are being directed, any TREPAC contributions they have made and any MLS violations they might have.How to access:
1. Log in to the HAR Members Only area. 2. Click on My Account located within the menu bar.Click here if you need dues information.Click here for a list of key HAR member benefits.
HAR Tool of the Week
Weekly HAR Market StatThe most recent weekly report card shows buyer activity still registering higher than the same week in 2010. Sellers, on the other hand, introduced fewer new homes to the market than last year at this time. A few shakeups in the housing policy world are worth mentioning: keep an eye on HARP 2.0, new FHA conforming loan limits, and changes to the short sale process on GSE-backed loans.
In the Houston region, for the week ending November 13: New Listings decreased 14.1% to 1,708 Pending Sales increased 24.8% to 1,139 Closed Sales decreased 6.6% to 698
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Questions? 713-629-1900 ext. 6
No One Wants to Take Unnecessary RisksInternational Risk ReductionDate: Tuesday, November 29Time: 1 4 p.m. Location: HAR CentralInvestment: $40Designed for real estate professionals who have international clients and customers who buy or sell real estate in the U.S., this program trains agents and brokers on legal issues such as the Patriot Act, interstate commerce laws, reporting and withholding requirements, and more. Avoid risk and take advantage of expanding international business opportunities and understand how U.S. regulations impact real estate transactions locally.