Early Voting Now Underway in Primary Runoff Elections• REALTORS® still need to head to the polls for the primary runoff elections on Tuesday, July 31.• Early voting runs from Monday, July 23 through Friday, July 27, 7 a.m. – 7 p.m. Location information by county is available on HAR Connect.• HAR has four Recommended Candidates in the runoff elections. They are: David Dewhurst, Candidate for U.S. Senate Greg Bonnen, Candidate for Texas House District 24 Jacquie Chaumette, Candidate for Texas House District 26 Gene Wu, Candidate for Texas House District 137 More detailed information may be found on HAR Connect.
Mortgage Rates Continue Their Descent• Mortgage rates sunk to record lows again last week, marking the 17th consecutive week that the 30-year fixed-rate average has lingered below 4 percent. The 30-year fixed rate has been under 4 percent all but one week this year.• The 30-year fixed-rate average fell to an historic-low 3.53 percent, down from 3.56 percent the previous week and 4.52 percent a year ago.• The 15-year fixed-rate average remained below 3 percent for the eighth consecutive week. The average of 2.83 percent was down from 2.86 percent a week prior and 3.66 percent a year ago.• The hybrid adjustable rate mortgages have also stayed below 3 percent again. The one-year ARM was 2.69 percent, the same as it was a week earlier. It was 2.97 percent a year ago.
Weekly HAR Market StatIts been a relatively pleasant year for the business of residential real estate. Case inpoint, the June 2012 NAHB/Wells Fargo Housing Market Index (HMI) rose to itshighest level since May 2007. And for the first time since 2005, housing is on track forbeing a net positive contributor to national GDP in 2012. Speaking on behalf ofAmerica, its about time. Throw in some real price gains and you can expect holdoutbuyers to be less afraid of buying and sellers to be less afraid of listing. In the Houston region, for the week ending July 15: • New Listings decreased 7.2% to 2,123 • Pending Sales increased 23.7% to 1,683 • Closed Sales increased 0.5% to 1,282
Open Your Mind to Learning 15-Hour MCE Package This course allows agents to complete their entire 15-hour education requirement for renewal in two days. The package includes the following courses: Negotiating Real Estate Texas Style (3 hrs.), Texas Real Estate and the Economy – Past, Present and Preview (3 hrs.), Texas Landlords and Texas Tenants – What Both Need to Know (3 hrs.), TREC Legal Update MCE (3 hrs.) and TREC Ethics MCE (3 hrs.). Date: Thursday & Friday, July 26 & 27 Time: Thursday: 8:30 a.m. – 6:30 p.m.; Friday: 8:30 a.m. – 3:30 p.m. Location: HAR Central Investment: $125Register at www.har.com/edu Questions? 713-629-1900 ext. 6