President's Corner
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In observance of Independence Day, WCREALTORS will be closed on Friday, July 3rd. We will reopen on Monday, July 6th. WCREALTORS wishes you and your family a happy and safe holiday.

News in the WC
Williamson County Food Drive

Food Collection Dates: July 10 - July 16
Drop Off: July 17 | 1:00 - 3:00 PM

There is currently a high need for food donations at our local food pantries in Williamson County, and this is especially great during the summertime when meals for kids are not available at school. The Board of Directors of the Association has asked the Community Service committee to help meet this need. This is a great chance for you to give back to your community while also taking the time to knock on doors and grow your business!

Collect all the food you can through July 16, and then on July 17th, you can deliver your collection of food to a participating pantry of your choice, all of which are listed on the flyer. There will be a REALTOR® at each of the sites to take your donations and take pictures for local media submission.  We also hope to have the local media on hand to report on the work of the REALTOR® in Williamson County and their efforts to facilitate this need.

This is an opportunity for the Real Estate Community to “GIVE BACK” in a very big way.  I hope each of you will support this event and help make this food drive both remarkable and successful for the food pantries as well as for the REALTOR® community.  Let’s all work together and show what REALTORS® can do when “CALLED TO ACTION”.  More Information

Industry News
The Waiting Game for Millennials May Be Over

Millennials are primed to gain market share in the second half of the year as more decide to take the plunge into home ownership, according to a consumer behavior survey of more than 12,000 respondents conducted by realtor.com®.

Last year, first-time buyer market share decreased as the year progressed and dropped to 27 percent in the summer, according to data from the National Association of REALTORS®.

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CFPB Backs Delay for New Closing Rules

The Consumer Financial Protection Bureau seeks to delay until Oct. 1, implementing the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure regulation. The new rules were originally set to take effect Aug. 1. The proposal must still undergo a public comment period before it becomes official.

The new “Know Before You Owe” mortgage disclosure rules aim to streamline the disclosure process for home buyers during closing by merging the Truth in Lending Act and the Real Estate Settlement Procedures Act into one form.

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TREC clarifies which brokers must maintain a written policies and procedure manual

The Texas Real Estate Commission recently adopted a clarification to the TREC rule regarding the requirement for a broker to maintain a written policies and procedures manual. Now it is clear that only a broker who sponsors salespersons or who is a designated broker for a business entity must maintain up-to-date written policies and procedures. A broker who sponsors salespersons is subject to this rule regardless of how long the broker sponsors the salespersons. A broker who is the designated broker for a business entity is subject to this rule whether or not the business entity sponsors salespersons.

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News You Can Use
Texas State to begin construction projects in 2016

Texas State University will begin major construction projects in 2016 to address increasing enrollment in two fast-growing programs.

The Texas Legislature’s passage of a tuition revenue bond bill in the 84th session, which ended June 1, will provide the university with $63 million to go toward construction of a new $93 million engineering building at the San Marcos campus and $48.6 million to go toward construction of a new $67 million health professions building in Round Rock.

Between 2010 and 2014 the number of bachelor’s degrees awarded in the engineering program has more than doubled from 41 to 84. Enrollment in the program has also increased from 62 students in 2005 to 840 students in 2015. Enrollment in the health professions program has doubled during the past five years, according to a news release.

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Publisher to move regional offices to Round Rock, bring 270 jobs

Houghton Mifflin Harcort Publishing Company plans to relocate its Texas regional office to Round Rock after City Council approved an incentive package June 11.

The company will bring with it 270 jobs with an average salary of more than $70,000, according to city documents. As part of the deal approved by City Council the company agrees to lease a majority of a 100,000 square foot Class A office building developed by Live Oak-Gottesman. The building will be in the La Frontera office development.

Houghton Mifflin Harcourt will also invest $3 million in facility improvements and personal property. In exchange, the city will pay the company $350,000 in Economic Incentive Payments over four years.

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The Voice for Real Estate


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