1. In This Week’s “The EDGE”
• The Government Shutdown’s Possible Effect on Real Estate
• Houston Market Movements
• Open Your Mind to Learning
“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. The Government Shutdown’s Possible Effect on Real Estate
The government shutdown continued for a third day on Monday after Congress’s failed attempts to pass a spending deal that would fund the government through mid-February. 
During a shutdown, the Internal Revenue Service (IRS), Social Security Administration and the Department of Housing and Urban Development (HUD) furlough large swaths of workers, significantly delaying mortgage approval until work resumes.
Banks and private lenders will operate as usual, housing experts told Inman News. But the mortgage applications they approve or deny include tax records and financials requiring certification. Fannie Mae and Freddie Mac, despite being government-sponsored enterprises, are not government agencies — and therefore are not affected.
NAR President Elizabeth Mendenhall emphasized that a long-term shutdown could pose larger problems for the housing market and called on senators to vote in favor of a budget extension Friday.
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3. The Government Shutdown’s Possible Effect on Real Estate (continued)
“The government shutdown will have an impact on real estate transactions should it continue for an extended period of time,” said Mendenhall in a prepared statement. “The National Association urges Congress to come together and reach an agreement to keep the government open and avoid any negative effects on our military, federal employees, housing markets and the economy.”
The overall impact of a shutdown on the economy or housing market, however, will likely be negligible, since mortgage approval would resume eventually, said NAR economists.
Read more of this Inman News story HERE.
If you’re not already enjoying the FREE Inman Select subscription that comes with your HAR membership, sign up HERE today!

4. Houston Market Movements
At the beginning of a calendar year, it is often common for home buyers and sellers to become immediately more active. Call it the result of a resolution or the promise of something new, but it is a noted phenomenon across the country. It's really too early to say if the trend will continue in 2018, but the first weeks of the year have not necessarily shown a huge jolt in activity so much as the last weeks of 2017 were quieter than usual.
In the Houston region, for the week
ending January 14:
• New Listings increased 0.3% to 2,377
• Pending Sales increased 11.3% to 1,604
• Closed Sales increased 2.9% to 971

5. Open Your Mind to Learning
GRI: Real Estate Law
HAR presents the Graduate REALTOR® Institute (GRI) Real Estate Law class over four days in late January. GRI is the most widely recognized of the national real estate designations. Topics include concepts and descriptions, rights and estates, residential contracts and legal considerations. Classes may be taken in any order and satisfy 10 hours of elective CE or 30 hours of SAE. Please confirm your eligibility and review the requirements necessary to earn this designation by visiting the designation holder’s site or contacting the HAR Professional Development department.
Date: January 25, 26, 29 & 30
Time: 8:30 a.m. to 5 p.m.
Location: HAR Central
Investment: $295
Register HERE today! Questions? Please call ext. 6