1. In This Week’s “The EDGE”
The EDGE Information and news that gives you an edge in the real estate business
In This Week’s “The EDGE”
• Houston Real Estate Begins 2017 on a Positive Note
• The Reason for Rising Property Taxes May Not Be What You Think
• Houston Market Movements
• Put a ‘Woof’ Over the Heads of Those in Need
“The Edge” is a weekly tool for managers to use to inform their agents and stay current and up-to-date with important real estate industry issues.
Brought to you by the HAR Communications Department.

2. Houston Real Estate Begins 2017 on a Positive Note
The EDGE Information and news that gives you an edge in the real estate business
Houston Real Estate Begins 2017 on a Positive Note
HAR released January 2017 MLS statistics last Wednesday. Here are some highlights of the MLS report in case you missed it:
The Houston housing market carried its positive momentum from 2016 into the new year, with single-family home sales and pricing both on the rise in January.
Sales volume increased 1.7 percent with 4,080 homes sold.
The single-family home median price rose 4.0 percent to a January high of $210,000, while the average price increased 5.3 percent to $275,696 – also a January high.
Months of inventory grew to a 3.5-months supply compared to 3.3-months in January Housing inventory nationally stands at a 3.6-months supply, according to NAR.
Leases of single-family homes rose 5.7 percent.
For more detailed information, please visit the HAR Online Newsroom for this and all other HAR news releases.

3. The Reason for Rising Property Taxes May Not Be What You Think
The EDGE Information and news that gives you an edge in the real estate business
The Reason for Rising Property Taxes May Not Be What You Think
Take a second to review your property tax bill and you’ll likely see that the largest portion goes to your school district.
In fact, about 54 percent of all local property taxes paid by Texas property owners in 2015 were levied by school districts, according to the Texas Comptroller’s most recent Biennial Property Tax Report.
Texas properties are in high demand, which translates to increased market value and higher appraisals, making Texas real estate a wise investment. Some blame skyrocketing local property taxes on these increased appraisals.
It’s safe to say all Texans want their properties to rise in value, so let’s not vilify increasing appraisals. But we also want a sustainable way to fund our state’s public school system.
There is a way we can realize increasing appraisals, decrease our local property tax burden, and still fund our public schools: Increase the state’s contribution to public education so property owners aren’t bearing the brunt at the local level.
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4. The EDGE Information and news that gives you an edge in the real estate business
The Reason for Rising Property Taxes May Not Be What You Think (continued)
This won’t be an easy task, but the Texas Association of Realtors agrees with former State Rep. John Otto, who chaired the House Appropriations Committee in the 2015 legislative session, about how to start.
“A discussion needs to take place to determine the proper way to share public education costs between the state and local property taxes,” Otto said. “And once that goal is achieved, school districts should be able to lower their tax rates when the state no longer receives the benefit of growth in property values.”
Only a few years ago, Texas public schools were funded 50 percent by local property taxes and 50 percent by the state.
Today, your share of the funding through local property taxes is about 62 percent and the state’s share is about 38 percent. This imbalance is largely because the state is benefiting from increased property values. Translation: You are paying more in local school property taxes because your property value went up as the state share decreased.
Learn more about how YOU can help HERE.

5. Houston Market Movements
The EDGE Information and news that gives you an edge in the real estate business
Houston Market Movements
According to a recent Gallup poll, this is the first time in over 15 years that a majority of Americans are optimistic about finding a quality job. This is great news for the entry-level housing market, as job growth and improved wages fuel demand for home purchases. Rents have also been on the rise, another factor that has put the entry-level market in strong demand.
In the Houston region, for the week ending February 5:
• New Listings increased 2.6% to 2,725
• Pending Sales increased 21.0% to 1,948
• Closed Sales increased 62.4% to 1,380

6. The EDGE Information and news that gives you an edge in the real estate business
Put a ‘Woof’ Over the Heads of Those in Need
The 2017 Dog House Extravanganza
The 2017 Houston Association of REALTORS®’ TRLP class presents the Dog House Extravaganza. The purpose of this event is to raise awareness of and donations for New Hope Housing of Houston.  New Hope Housing helps build lives by building beautiful, safe housing at affordable rates. Join us for a night to delight! View custom-made dog houses provided by local Houston donors and judged by celebrity judges! Enjoy complimentary hours d’oeuvres and a silent auction. This year’s TRLP class is excited to partner with New Hope Housing because we believe everyone needs a "woof" over their head.
Date: Thursday, March 30
Promo Video:
Event Website:
Questions? Call ext. 6