HAR Chair Margie Dorrance Speaks to the Houston Jaycees

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HAR Chair Margie Dorrance spoke to the August meeting of the Houston Jaycees about the Houston real estate market

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HAR Chair Margie Dorrance Speaks to the Houston Jaycees

  1. 1. Margie Dorrance Houston Association of REALTORS ® 2010 Chair of the Board Houston Jaycees
  2. 2. <ul><li>HAR is the largest individual membership association in Houston with about 23,000 members. </li></ul><ul><li>It is also the (second) largest local REALTOR ® association in the country (JUST overtaken by the newly-merged Miami Association of REALTORS®) </li></ul><ul><li>Its website, HAR.com, generates an average of about 1.5 billion hits from more than 1.2 million unique visitors every month. </li></ul><ul><li>It is the only website that is local in scope that regularly ranks among the top 25 real estate websites in the country. </li></ul>What is HAR?
  3. 3. Houston Has the Second Largest Local REALTOR® Association in the U.S.
  4. 4. What Does HAR Do? <ul><li>HAR educates the public about the real estate market and </li></ul><ul><li>promotes the value of using the services of a REALTOR ® in a </li></ul><ul><li>property transaction. </li></ul><ul><li>HAR also advocates on behalf of property owners and REALTOR ® members by representing their interests when communicating with our elected officials. </li></ul><ul><li>It also develops new tools and services that our members may use to help them be more efficient and effective in their jobs. </li></ul>
  5. 6. HAR.com is 24 th in the U.S. out of 49,963 search terms
  6. 10. June Real Estate Numbers Showed Growth
  7. 12. Houston Sales Have Held Up Better than U.S.
  8. 13. Houston Home Sales Had Picked Back Up; But Took a Break in July
  9. 14. Steady as She Goes in Houston
  10. 15. Months Inventory Has Risen as Consumer Confidence Has Increased
  11. 16. Active Listings Stumbled…But Are Heading Up Nicely
  12. 17. Prices Tapered Off, But Have Begun Rising Again
  13. 18. New Homes Sales Through MLS Peaked in 2006 But Still Strong
  14. 19. Permits Peaked in Summer 2006 But Are Coming Off Their Lows
  15. 20. New Homes Sales Through MLS Peaked in 2006 But Still Strong
  16. 23. <ul><li>Since its creation in 2001, Commercial Gateway has grown and evolved into the Houston area’s most complete database of commercial real estate for sale and for lease. </li></ul><ul><li>With more than 1,500 members marketing more than 15,000 listings, this information exchange is a resource without equal. </li></ul><ul><li>The ability to electronically share project plans, PDF flyers, pictures and advertise available properties has changed the way business is done in Houston. </li></ul>
  17. 24. <ul><li>The market for industrial lease space in Houston is gradually improving along with several other economic factors affecting the overall Houston outlook. </li></ul><ul><li>Houston’s industrial market, strongly dependent on the broader economic recovery, has shown tremendous growth the last few years with more than five million square feet of space added to the marketplace since January 2009. </li></ul><ul><li>Construction has slowed considerably in 2010, with only a handful of smaller projects under construction. Most of the projects to break ground have been build-to-suits and owner-occupied facilities. </li></ul>
  18. 25. <ul><li>Properties built within the last two years have a vacancy rate of about 60 percent, and that group includes several larger properties ranging in size from 500,000 square feet and up. </li></ul><ul><li>But positive leasing activity in the last two quarters is a cause for optimism as companies move into the last half of 2010. </li></ul><ul><li>Leasing activity appears to be much stronger than last year, with 2009 going on record as one of the least active years in Houston’s history. </li></ul><ul><li>Sales of industrial properties, are looking up after being almost non-existent in 2009 and 1Q2010. It is important to note that the majority of industrial deals in Houston are normally between 20,000 and 50,000 square feet, although as noted, much larger and newer facilities are available. </li></ul>
  19. 26. <ul><li>The Houston market has withstood the national pressures </li></ul><ul><li>We are only about 10% below the historical norm </li></ul><ul><li>Houston’s market benefitted from the federal income tax credits </li></ul><ul><li>The greater Houston market lost more than 100,000 jobs last year, but our unemployment rate remains below the national average—AND we are gaining jobs so far this year. </li></ul><ul><li>Prices have held up, with a dip early in 2010 largely attributable to the tax credit. </li></ul>
  20. 31. Thank you! [email_address] http://www.slideshare.net/HARCommunications

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