Week of July 14, 2008
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Prospective homeowners appear to have celebrated our Independence holiday by buying a home. For the week ending July 5, there were 735 signed purchase agreements (pending sales), up 7.3 percent from the same week one year ago. New listings increased by 2.5 percent for the same time period comparison but took the expected dive from one week prior due to the 4th of July holiday. This week's edition of the MAAR Weekly Market Activity Report features updated figures for several important metrics: Days on Market Until Sale fell from last month to 147 but is still 13.1 percent higher than a year ago, and the Percent of Original List Price Received at Sale increased to 92.8 percent. Both changes are additional signs that home sellers are beginning to experience some light relief. However, not all indicators are rosy, as the Months Supply of Inventory increased slightly to 10.6 months, up 11.0 percent from last July, and the Housing Affordability Index dipped slightly to 148 due to another increase in interest rates. Click the logo below or click here for this week's full report. Visit Market Info for more research reports.
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Supra Weekend Maintenance, Bills Mailed
Supra bills have been mailed to all DisplayKEY lease holders. If you have not received your bill, or if your billing address has changed, please contact Supra at 1.877.699.6787. The invoice is for the lease period July 17, 2008 through July 16, 2009 and is due on July 17, 2008. Besides snail mail, bills can be paid in two additional ways:
If you have any questions regarding your annual DisplayKEY bill, please contact GE Security at 1.877.699.6787.
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News from NorthstarMLS – More Properties Added to Co-op In Foreclosure/Lender Owned At the bottom of any search screen, click the link "Click here to add or remove other search fields," then select "Foreclosure" from the list (double click it or click the "Add" button to move it to the "Selected Fields" list, then click the "Return to Search" button). The new field will appear at the bottom of your search screen. Click to select "Yes" to find all the properties that brokers have flagged as being In Foreclosure/Lender Owned. Or, if you want to exclude Foreclosures from your search, select "Yes" and click to select the "Not" radio button below the field. Are you the List Agent for a property that is In Foreclosure/Lender Owned? Target the property to buyers of foreclosed properties by editing the listing in Home Base and selecting "Yes" for the new "In Foreclosure/Lender Owned" field. Be sure you have the seller's permission to do so. We recommend getting their signed consent with an MLS Change Form. If you need help, contact the NorthtarMLS Help Desk at mlshelp@northstarmls.com or 651.251.5456. More Northern Minnesota Residential and Lakeshore Properties Added to MLS Co-op Source: Regional Multiple Listing Service (RMLS)
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"The 100+," our community level market tracking tool has been updated with data through June 2008. All real estate is local—even from block to block. "The 100+" was built with this micro-level geographic truism in mind. go there now
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Housing Supply Outlook – July 2008
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Number of homes for sale per buyer in decline
The SDR posts a July figure of 8.11, which means there will be 8.11 homes for sale for each buyer in the month of July. This is down 1.6 percent from one year ago, and means we are moving very slowly back towards a balanced market. Since the metric takes both supply and demand into consideration, the downward movement is highly significant. This is the first negative year-over-year change in SDR since MAAR began tracking the figures. view the full news release
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Wine & Beer Tasting Event at Stella's Fish Cafe
Date: Tuesday, August 5, 2008
To register, contact Linda Stoeckicht at lindas@mplsrealtor.com or 952.988.3157. You can also register here. Younger professionals and first-timers are more than welcome! View a printable flyer!
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We would like to see somewhere in the range of 15 volunteers, but the more the merrier. Availability on Monday, August 4 is maybe the most important (scraping!), but we'll take all comers until we've reached capacity. Lunch, water and soda will be provided by MAAR and/or sponsors. Most of the paint brushes will be supplied also. But we could use a few other things as noted in our flyer. MAAR has ordered the Paint-A-Thon anniversary t-shirts for all painters (while supplies last). You will also receive a certificate of appreciation from Paint-A-Thon and the "thanks" from two wonderful homeowners who are very grateful for our help. To register yourself or your team, contact Amy Ransom at amyr@mplsrealtor.com or 952.988.3124. If you, your office or your company would like to be a sponsor, please contact Amy. view, print, share our informational flyer!
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Additionally, our sister association, the North Metro REALTORS® Association (NMRA), has scheduled time with Mayor Gary Peterson and Scott Clark, city staff, to discuss the issue.
Schedule of Events:
Issue Resources:
MAAR members are encouraged to participate in the city council meetings. If you plan on attending, please contact Bill Gerst, Vice President of Public Affairs at billg@mplsrealtor.com or 952.988.3141. Source: North Metro REALTORS® Association
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Minnesota Licensing Goes Virtual
Questions about licensing or licensing education requirements should be directed to Licensing.Commerce@state.mn.us, education.commerce@state.mn.us or 651.296.6319. If you do not have access to a computer, please call 651.296.4026. NOTICE: MAAR is receiving reports that some brokers are having difficulty with the new online system. We are hearing claims that the DOC is sometimes difficult to get in touch with and that help is not easily found. Whatever the case, PULSE has a helpline, and they have proven to be very helpful. The PULSE helpline number is 1.866.274.4756. Source: Minnesota Department of Commerce and MAAR
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Accredited Staging Professional (ASP) Series – July 29, 30, and 31 It's still a hot addition to your repertoire, it's still one of the elements of a home for sale that can turn a lengthy listing into multiple offers, and we're still offering opportunities to learn how to Stage® at MAAR. – click here or on the image below for details –
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MAAR 2008 Golf Tournament – Beat the Rush Golf Cheap Make Your Way to the Fairway Newcomers welcome! | Click here or on the image below for registration and details!
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The REALTOR® July/August 2008 Available Now
In this issue, we spotlight the increased use of video to get the point across online. Desktops and laptops have been turned into little short-attention span TV sets, and we know we have to play along in order to be pertinent to those who have grown used to viewing information in this manner. And remember: Whenever you see a link in the text, it's probably linkable. Save yourself some type time, because your time is precious and your fingers are tired and sore.
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Now that's what I call a blowout sale!
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2008 Center for REALTOR® Technology Survey
This survey is typically sent out earlier in the year, but due to being one staff-member short during the first quarter of 2008, it took CRT a little longer than usual to catch up, so your responses are needed as soon as you have a moment. The survey report will be available later this year at www.realtors.org/crt. Let your voice be heard! Take the survey! Source: Center for REALTOR® Technology Web Log
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One local club, REALTORS® Toastmasters 2512, has provided a forum for doing this since 1962 and is inviting you to stop by and observe one of their meetings specially held at the MAAR office on Thursday, July 17 from 7:30 to 9:00 a.m. The club usually meets every Thursday morning from 7:30 to 9:00 a.m. in the Bloomington Executive Suites Building. Interested observers may attend up to three meetings before making the decision whether or not to join. While the club was originally founded by REALTORS®, there are now many other professions represented in the group. To learn more about the club, please contact Carol Nielson at 952.884.0225 or just stop by a meeting any Thursday morning at 7:30 a.m. Observers are welcome at any time and do not actively participate in meetings until after they join the club. Semi-annual dues are $40.
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Next WCR Meeting: Wednesday, August 6
Questions about WCR? Visit www.twincitieswcr.org. Or contact Maura Kolars, President, 612.382.5990 or Colleen Schultz, VP of Membership, 952.221.5215.
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This is to in-FORM you...(get it?)...that MAAR has some forms available and on sale while supplies last. Prices have been reduced to 99 cents per pad!
Using Digital Video as a Marketing Tool
This Field Guide explores why and how to market real estate using videos on the web. Source: National Association of REALTORS®, Information Central, A. Siudzinski, Information Specialist
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Office Depot – Business AdvantEdge Partner
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