Edge061112

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Edge061112

  1. 1. Houston is a National Draw• Houston remains one of the top moving destinations in the U.S., according to the American Moving and Storage Association.• Yahoo Real Estate reports that Houston ranked No. 3 on the association’s list of popular moving destinations from January to March of this year, based on inbound shipments.• The cities on the list share some common characteristics, such as a reasonable cost of living and plenty of activities for singles, couple and families.• The article also cites reasonable housing prices and plentiful job opportunities, particularly in the energy and chemical industries, as factors drawing people to Houston.• The complete article is available here: http://yhoo.it/LRCuum.
  2. 2. Texas Among the Best States for Retirement• Texas is the nation’s No. 2 state to retire, according to a new survey by TopRetirements.com.• Among the reasons cited for this ranking are the fact that there is no income tax in Texas, the cost of living is low and the climate is warm.• While TopRetirements.com acknowledges that Texas’ property taxes are higher than in other states, it notes that there are protections for seniors.• In addition, the Lone Star State boasts 40 certified retirement cities.• The report also indicates that each retiree household that moves to Texas creates 1.5 jobs.• The complete article is available here: http://bit.ly/KwOtDI.
  3. 3. Mortgage Rates Drop Even Lower• Mortgage rates hit new record lows in the week ending June 7, with the 30-year fixed-rate mortgage average declining to 3.67% from 3.75% in the prior week, Freddie Mac said in its weekly report last Thursday. The rate was 4.49% a year earlier.• "Fixed mortgage rates reached new record lows for the sixth consecutive week as long-term Treasury bond yields declined further following downwardly revised economic growth and job creation data," said Frank Nothaft, Freddie Macs chief economist.• The 15-year fixed-rate mortgage also hit a record low in the most recent week, falling to 2.94% from 2.97% in the prior week.
  4. 4. Weekly HAR Market StatLast year at this time, the housing market was in a holding pattern of uncertainty andnegativity. This year, it is acceptable to have hope again. Sellers have listed lessinventory and buyers are absorbing existing inventory. Foreclosures, while still present,are having a less detrimental impact since low-priced inventory has already beenpurchased, forcing consumers up the price ladder. Homes are now selling quicker andfor closer to list prices in many submarkets. The short sale process, loan availabilityand some appraisals continue to threaten a quicker recovery, but less so recently. In the Houston region, for the week ending June 3: • New Listings decreased 6.8% to 2,137 • Pending Sales increased 43.2% to 1,737 • Closed Sales increased 43.9% to 1,735
  5. 5. You Can’t Afford to Miss This Course Texas Affordable Housing Specialist The Texas Affordable Housing Specialist certification helps to equip you with the knowledge to help first-time homebuyers and increase homeownership and retention in Texas. This certification boasts 12 MCE hours, including The Texas REALTOR® TAHS Elective Training, an 8-hour course, as well as the 4- hour United Texas: Housing Initiatives that Work course. Texas REALTORS® who have earned the title of Texas Affordable Housing Specialist are listed by city on the TexasRealEstate.com Web site under “Affordable Housing. United Texas TAHS Elective Training Date: Monday, June 18 Date: Tuesday, June 26 Time: 8 a.m.–12 p.m. or 1–5 p.m. Time: 8:30 a.m.–5:30 p.m. Location: HAR Central Location: HAR Central Investment: $40 Investment: $35Register: education@texasrealtors.comor by calling 1-800-873-9155 Questions? 713-629-1900 ext. 6

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