Forbes has ranked Houston as the "coolest city in America" citing its strong economy, housing, culture, and youthful population. The magazine surveyed the largest US cities and found Houston enjoyed 2.6% job growth last year and its median age is 33. Forbes praised Houston for its theater, museums, and diverse urban landscape. Mortgage rates have also hit new record lows, with 30-year fixed rates falling below 3.5% for the first time in 60 years.

1. Forbes Ranks Houston as the “Coolest City
in America”
• Citing a local economy that was “humming through the recession,
stylish housing developments,” restaurants, art galleries and a host
of cultural attractions, Forbes magazine has named Houston “the
coolest city in America to live.”
• The designation comes after the publication surveyed 65 of the
largest Metropolitan Statistical Areas in the U.S.
• Forbes says, “Houston enjoyed 2.6% job growth last year and
nearly 50,000 Americans flocked there in response – particularly
young professionals. In fact, the median age of a Houston resident
is a youthful 33.”
• The publication goes on to praise Houston for its “strong theater
scene, world-class museums and a multicultural, zoning-free
mashup of a streetscape.”
• Read the complete report here.

2. Mortgage Rates Score a New Record Low
• The average rate on the 30-year fixed mortgage has fallen
again, this time dropping below 3.50 percent for the first time on
records dating back 60 years.
• Mortgage buyer Freddie Mac said Thursday that the rate on the
30-year loan declined to 3.49 percent. That's down from 3.53
percent the previous week and the lowest since long-term
mortgages began in the 1950s.
• The average rate on the 15-year fixed mortgage, a popular
refinancing option, dipped to 2.80 percent. That's below the
previous record a week earlier of 2.83 percent.
• The rate on the 30-year loan has fallen to or matched record-low
levels in 13 of the past 14 weeks.

3. imPACt Katy is Here
Join HAR TREPAC for an informative luncheon about some of the most
challenging issues facing the Katy region today:
•The Legislative and Political Landscape
•Growth and Economic Development
•Ever Expanding School Support System that makes Katy shine
Monday, August 6 from 11:30 a.m. – 1:30 p.m.
The Brookwood Community Cafe
1752 FM 1489
Brookshire, TX 77423
Presenters include The Honorable Pete Olson, U.S. House of Representatives
District 22 and representatives from the Katy Area Economic Development
Council and Katy ISD.
$15 ticket will count toward your 2012 TREPAC investment.
RSVP to Aracely Arrazolo at aracely@har.com or 713-629-1900 ext. 286.

4. Weekly HAR Market Stat
With the Olympics in full swing, many are noting that housing has already
medaled in several arenas. Sellers waiting for firmer prices should take a
fresh look at the data. Buyers nervous about a declining market should do the
same. Key changes continue to take place that set the stage for a more
meaningful recovery.
In the Houston region, for the week ending July 22:
• New Listings decreased 3.9% to 2,127
• Pending Sales increased 36.2% to 1,738
• Closed Sales increased 26.5% to 1,434

5. Cultivating New and Repeat Business
CRS Elective: Turn it On Automatic
Serving the Repeat and Referral Client
Prospecting and lead generation are the most important sales activities and probably the
most neglected. There is so much for a REALTOR® to do and so little time to get it done.
The majority of all repeat and referral business depends on relationships: past customers,
friends or referrals from past customers or friends. While 87% of buyers say they'll
recommend or use their agent again, only 14% actually do. That 80% fallout is due to not
staying in touch. It’s not enough to know what needs to be done. You need a system to
make it happen while you handle all of the other demands on your time and resources.
Spend the morning with national speaker and trainer, Pat Zaby, and learn how to put a
system into place that will make lead generation Automatic!
Date: Wednesday, August 22
Time: 9 a.m. – 12 p.m.
Location: HAR Central & HAR Montgomery (via video conf.)
Investment: $39
Register at www.har.com/edu Questions? 713-629-1900 ext. 6