Houston Earns Another Top Ranking• Site Selection magazine has ranked Houston as the No. 1 metropolitan area in the U.S. for corporate facility expansions and relocations in 2011.• Local experts, including Craig Richard, chief economic development officer with the Greater Houston Partnership (GHP), say the ranking could lead to even more regional economic development.• Last year, the GHP counted 195 relocations and expansions in the 10-county Houston region. Out of these relocations and expansions, the 34 that GHP helped to coordinate created more than 4,720 jobs.• Site Selection magazine ranked Houston as the No. 2 area in the U.S. for expansions and relocations in 2010. This year, Houston beat out the former No. 1 competitor, Chicago.• To qualify in the expansion and relocation category, all facilities must be at least 20,000 square feet, have a capital investment of at least $1 million and create at least 50 new jobs.• For more information about the ranking, please see http://bit.ly/zN9sjz.
Mortgage Rate Again Falls to Near-Record Lows• The average rate on the 30-year mortgage has edged down to hover again above record lows.• Mortgage buyer Freddie Mac said last Thursday that the rate on the 30-year home loan fell to 3.90 percent from 3.95 percent the previous week. Thats slightly above the 3.87 percent average rate hit two weeks ago, which was the lowest since long-term mortgages began in the 1950s.• The average on the 15-year fixed mortgage fell to 3.17 percent from 3.19 percent a week ago. It hit a record 3.14 percent four weeks ago.• Mortgage rates have been below 4 percent for more than three months, making home-buying and refinancing more attractive for consumers who can qualify.
Weekly HAR Market Stat2012 is shaping up to be a year of encouraging change in the market. Since all realestate is local, recovery wont occur evenly across all areas or segments. Fewer ForSale signs is a good tip-off, as is an improving jobs picture. Absorption rates headingback down toward the four-to-seven-month range is also a welcome omen. Slowly butsurely, sellers will start to see more of their asking price as they face less competition,particularly from banks. Low interest rates should prevail through 2014, but high-quality inventory may not. In the Houston region, for the week ending February 26: • New Listings decreased 5.9% to 2,063 • Pending Sales increased 30.7% to 1,444 • Closed Sales decreased 21.9% to 846
Become a Leader Today 2012 Texas REALTORS® Leadership Program (TRLP) Application Deadline is Friday, March 23 Become a leader today! Due to its overwhelming success, HAR will once again offer 30 members the opportunity to take part in an extensive eight-month 2012 Texas REALTORS® Leadership Program (TRLP) . Each session equips REALTOR® members with the tools necessary to grow both personally and professionally. Topics Include: Business Planning ∙ Time Management & Life Balance ∙ Spokesperson Training ∙ Leading Across Difference ∙ Understanding Your Leadership Style ∙ H-Town Day ∙Team Building (Overnight Retreat) ∙ Law, Legislature & Leadership (Austin bus trip) Applications for the 2012 TRLP are now available.Contact the HAR Professional Development department at (713) 629-1900 ext. 6 or via email at firstname.lastname@example.org to receive an application.