Margie Dorrance Speaks to Lone Star CRS Holiday Education Luncheon


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HAR 2010 Chair Margie Dorrance spoke at the Lone Star CRS Holiday Education Luncheon about the greater Houston real estate market, what HAR has done in the past year and where we are headed.

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Margie Dorrance Speaks to Lone Star CRS Holiday Education Luncheon

  1. 1. Margie Dorrance Houston Association of REALTORS ® 2010 Chair of the Board Texas Lone Star CRS Holiday Education Luncheon
  2. 2. 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>
  3. 3. Houston Has the Second Largest Local REALTOR® Association in the U.S.
  4. 5. is 17 th in the U.S. out of 49,934 real estate search terms
  6. 10. Houston Home Sales Had Picked Back Up, but Declined After April
  7. 11. Steady as She Goes in Houston
  8. 12. Months Inventory Has Risen
  9. 13. Active Listings Broke the Pattern…But Are Heading Up Nicely
  10. 14. Prices Tapered Off, But Have Begun Rising Again
  11. 15. New Homes Sales Through MLS Peaked in 2006 But Still Strong
  12. 16. Permits Peaked in Summer 2006 But Are Coming Off Their Lows
  13. 18. <ul><li>National: HVCC, taxes, mortgage interest deduction, 3.8% investment income tax </li></ul><ul><li>State: tax on real estate transactions, tax on professional services, mandatory sales-price disclosure, private transfer fees, appraisal issues and broker price opinions </li></ul><ul><li>Local: Historic Preservation Ordinance, High Density Ordinance, Parking Ordinance </li></ul>
  14. 20. <ul><li>The answer is yes and no. </li></ul><ul><li>There was a last minute addition in the healthcare reform bill that passed earlier this year that applies a 3.8% tax on investment income in some situations. </li></ul><ul><li>Currently, the $250,000 per person capital gain exclusion for the sale of a home still applies so this new tax would only be on that amount above those limits. </li></ul><ul><li>For example, if you are single and sell your home for a net capital gain of $300,000, then you will have to pay the 3.8% tax on the $50,000 that is above your $250,000 exclusion, which totals $1,900, in addition to any capital gains owed. </li></ul><ul><li>This also has income limitations so only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. </li></ul>
  15. 21. <ul><li>REIS </li></ul><ul><li>Bar Camp </li></ul><ul><li>Microsoft Tag Reader </li></ul><ul><li>iPhone/iPad app </li></ul><ul><li>Innovation…sometimes successful…Client Experience Rating </li></ul><ul><li>Innovation…sometimes not successful…REALTOR® Match </li></ul><ul><li>Leadership Training </li></ul>
  16. 22. FIND: Natural Language Search REALTOR® Property Resource Browser-neutral mapping search; Apple-users will be happy
  17. 23. Promote listings on social networking sites Twitter Accounts: 1,200 Tweets: 31,619
  18. 25. Videos viewed 73,000 times on
  19. 26. <ul><li>I am not a forecaster or analyst, but… </li></ul><ul><li>Most of the reports and statistics I have seen have indicated that we will likely continue to have a somewhat choppy real estate market, possibly through the end of 2011. </li></ul><ul><li>There is a large “shadow inventory” of homes on the verge of foreclosure that will likely weigh down the national market. </li></ul><ul><li>The potential tax reform and international turmoil will be things to watch during the coming year for their impact on our real estate market. </li></ul><ul><li>If prices were going to drop, we think they would have already done so. </li></ul><ul><li>The overall domestic economic climate seems to be improving with positive reports coming out during the last two months. </li></ul>
  20. 30. Thank you! [email_address]