What Makes Houston the Next Great American City? Smithsonian Magazine says “as Houston undergoes an ethnic and cultural transformation, its reputation grows as a place where people can dream big and succeed.” In the July-August issue of the publication (or online at smithsonianmag.com), you may read an interesting analysis of the future of Houston—just get past the part about the reporter being mugged while here to research the story. The journalist discusses the cultural and ethnic diversity of our city and interviews four Houstonians for perspective, including fashion designer Chloe Dao, chef/restaurateur Hugo Ortega, billionaire entrepreneur Farouk Shami and artist Rick Lowe. According to Dr. Stephen Klineberg in the story, “Our surveys show that more and more Anglo residents are accepting the inevitable, and even saying that ethnic diversity is a source of strength for Houston” and “Luckily, in Houston, ideology has always been less important than prosperity.”

Weekly HAR Market Stat Each year, the activity around Independence Day collides with market trends because the summer holiday season ends up being more about family fun than housing fuss. As the market shifts from under us, things like historically low interest rates and rising rents cause pause for those with a clear idea of what they want despite the lack of funding to achieve it. In the Houston region, for the week ending June 30: New Listings decreased 3.2% to 2,422 Pending Sales increased 31.5% to 2,169 Closed Sales increased 10.0% to 2,467

Questions? ext. 6 A Global Mindset Register at CIPS Institute The CIPS Institute is a week-long session consisting of five classes: 1. The Local Markets - This course is an analysis of the international real estate business environment, including capital flow, currencies, government regulations, and cultures. The practical aspects of international brokerage, networking, marketing and selling are discussed. 2. Europe and International Real Estate - Covers the logistics of how to conduct real estate transactions with clients from the European Countries. 3. The Americas and International Real Estate - Practical information for professionals who work with Caribbean, North, Central and South American investors. Historical and cultural influences, regional relationship and investment opportunities are covered along with a special focus on Mexico. 4. Asia/Pacific and International Real Estate - Covers the real estate practices for Asia and the Pacific. Emphasis is placed on culture influences, economic trends and assessing investment opportunities. A special chapter on working with the Japanese is included. 5.Transaction Tools - Provides the tools needed to present investment information to international clients - in their currency and area. You will learn how to measure investment performance, prepare financial projections, and understand the effects of taxes and exchange rates on investments. This course is waived for CCIM designees. Date: Monday, July 22 – Friday, July 26 Time: 8 a.m. – 5 p.m. Location: HAR Central Investment: $749