1. Study Finds Local Real Estate Brokerage
Websites Offer Most Complete, Accurate
and Timely Info
• An independent study of 11 major markets by the WAV Group finds that
local real estate brokerage websites give consumers the most complete,
accurate and timely information about homes for sale.
• The study evaluated sites from three local brokerages with real estate
agents who help consumers buy and sell homes, comparing listing search
results to those found on two national portals, Trulia and Zillow, which
operate almost exclusively online.
• In the markets analyzed, the study concluded that:
-Local real estate brokerage sites display 100% of the agent-listed
homes for sale compared to about 80% for the national portal sites.
-Local real estate brokerage sites show newly listed homes for sale
seven to nine days earlier than national portals.
-Local real estate brokerage sites almost never show a home listing
as active that has already sold; about 36% of listings that appear as
active on national portals are no longer for sale.

2. Mortgage Rates Hit New Record Lows
• Average rates on fixed mortgages fell to fresh record lows for the
second straight week last Thursday.
• Freddie Mac said the rate on the 30-year loan dropped to 3.36 percent,
down from the previous week’s rate of 3.40 percent, which was the
lowest since long-term mortgages began in the 1950s.
• The average on the 15-year fixed mortgage, a popular refinancing
option, dipped to 2.69 percent, down from the previous week’s record
low of 2.73 percent.
• Rates are falling after the Federal Reserve started buying mortgage
bonds to help strengthen the national housing recovery that began
earlier this year. The Fed plans to continue the program until there is
substantial improvement in the U.S. job market.
• Nationally, as in Houston, sales of both existing and new homes are up
from last year. Home prices are rising more consistently. And builders
are more confident in the market and are starting to build more homes.

3. Weekly HAR Market Stat
Some say that housing and the economy are woven together into a single garment of
destiny. Let's review recent national economic data: a good September non-farm
payroll report marking 31 consecutive months of private job growth, the unemployment
rate falling to 7.8 percent–a 44- month low, a widely positive S&P/Case-Shiller home
price report and mortgage rates averaging close to 3.4 percent. Combine the above
trends with less housing supply and strong home sales numbers, and you can start to
see just what's driving this recovery. It's still the early innings, but we're rooting for the
home team.
In the Houston region, for the week ending September 30:
• New Listings decreased 8.0% to 1,829
• Pending Sales increased 48.5% to 1,610
• Closed Sales increased 13.3% to 1,817

4. Graduate to a New Designation
Graduate REALTOR® Institute – GRI 1 Finance
The GRI designation is the most widely recognized of the National Real
Estate Designations. Consisting of three courses, each taught by experts
in their respective fields, this module consists of Contract Forms,
Contract Procedures, Residential Finance and Cultural Diversity & Fair
Housing. A calculator is required. GRI courses may be taken in any order
and satisfy your 9 hours of non-legal MCE requirements. TREC rules
mandate that each student be on time. Please bring your license number
with you to the class.
Date: October 18, 19, 22 and 23
Time: 8:15 a.m. – 5 p.m.
Location: HAR Central
Investment: $295
Register @ www.har.com/edu Questions? 713-629-1900 ext. 6