Weekly Market Activity Report

Housing supply in the Twin Cities continues its descent. For the week ending July 12, there were 11.5 percent fewer new listings on the market than there were one year ago. Over the last three months, there have been roughly 4,000 fewer homes on the market than there were during the same period in 2007. The total number of properties for sale currently sits at 33,390—down 4.7 percent from this time last year.

The sales picture is slightly different, as activity has flattened after two years of downward movement. We are showing a slight 1.8 percent increase in pending sales from the same week last year. Over the last three months, there have been roughly 300 fewer pending sales—a decline of 2.7 percent.

Click the logo below or click here for this week's full report. Visit Market Info for more research reports.

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Wine & Beer Tasting Event at Stella's Fish Cafe

Join MAAR for a fun networking event with other trend-conscious REALTORS® at Stella's Fish Café in the heart of Uptown and enjoy wines, beers and foods perfect-paired with international opportunities.

Date: Tuesday, August 5
Time: 6:00 p.m. to 8:30 p.m.
Addy: 1400 W. Lake St,
Minneapolis, MN 55408
Cost: $27 per person

To register, contact Linda Stoeckicht at lindas@mplsrealtor.com or 952.988.3157. You can also register here. Deadline: Thursday, July 31.

Younger professionals and first-timers are more than welcome! View a printable flyer!

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Paint-A-Thon Volunteers Needed!

Please join us August 4 – 6 (and 7 if necessary)
Paint-A-Thon helps keep low-income seniors and people with physical disabilities living independently in their own homes through the generosity of volunteer teams of painters. MAAR has committed to painting two homes in St. Louis Park from Monday, August 4 to Wednesday, August 6. We will continue through Thursday, August 7 if needed.

We would like to see somewhere in the range of 15 volunteers, and we're running a little slow on volunteer registrations. 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.

T-shirts will be issued to all painters while supplies last (see image to the right). 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.

Mary and Milford are the owners of the homes we will be working on. Both are in their 80s and both have immense pride in their homes. "You are the answer to my prayers to help me make my home beautiful," said Mary on a recent scouting mission. You can't beat that.

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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News from NorthstarMLS

Details on Last Week's Matrix Outage
NorthstarMLS Matrix was unavailable for a good chunk of Monday last week. The cause of the outage was an underground electrical fire that cut the power to downtown Vancouver where the server hosting facility is located. Repair efforts were hindered by the need to first extinguish the fires and then clear the air to make it safe for crews to enter.

NorthstarMLS fully expects its back-up systems in place to cover them in the event of any disaster so that service is not interrupted. Although the facility in Vancouver has served Tarasoft and NorthstarMLS exceptionally well for four years with no significant interruptions, they were not prepared for every aspect of this emergency and hundreds of businesses such as ours were affected. Thus, NorthstarMLS will be working closely with Tarasoft over the coming weeks to address what happened with the hosting company and will be strengthening their back-up systems as a result.

Thankfully, the emergency fall-back systems that NorthstarMLS put into place several years ago did perform as planned. Throughout the Matrix outage, Home Base was up and running so that agents and office staff could continue to enter new listings, make changes, upload media, etc. The back-up NorthstarMLS system, MLXchange, was also up and running. All new listings and updates went through to MLXchange allowing users to continue to do business. A back-up MLS system will continue to be maintained when MLXchange is replaced by the MLS portion of REsearch Minnesota in September.

NorthstarMLS and Tarasoft apologize for this disruption and assure you that it will be their number one priority to do everything that can be done to reduce the likelihood of this happening again.

Source: Regional Multiple Listing Service (RMLS)

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2008 Ushers in the BOD eBallot

Ahead of the September MAAR Board of Directiors election, we would like to remind you that we are featuring an electronic ballot for the first time this year. If you want a paper ballot, please contact MAAR at 952.933.9020 to request one, and we will assure that you receive your ballot at the mail address specified in your personal account with MAAR.

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Photos, Videos and Social Networking

Our cover story for the July/August 2008 issue of The REALTOR® focused on how we're offering video features on our website. We also touched on how we're growing our network of social networking opportunities at www.mplsrealtor.com. We have a YouTube presence now, along with Facebook, Flickr and MySpace. And don't worry, folks, we haven't replaced face-to-face interaction with Facebook. We still have plenty of events planned for mainstay groups like the International Council, the Multicultural Network of Real Estate Professionals and Compass Academy.It's all about increasing the techniques for reaching our clients. more

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Fannie Mae and Freddie Mac

No Static at All
We try to keep things fairly local in enotes, but we don't want you to think that we're not paying attention to the BIG stories about real estate that grace the nation's news sources.

We're following along with the Fannie Mae and Freddie Mac story arches with interest. The president of NAR, Dick Gaylord, issued a statement last week that echoes our sentiments:

"The National Association of REALTORS® welcomes the strong response this weekend by the Treasury Department and the Federal Reserve Board in response to the market turmoil and apparent overreactions that began last week affecting Fannie Mae and Freddie Mac. The health of the American economy depends on Fannie Mae and Freddie Mac and the steps taken by the U.S. government make clear that the role of Fannie and Freddie, in making fair and affordable mortgage loans available for home owners and home buyers, must not and cannot be interrupted.

"We support the federal government’s actions and authorization to help ensure the ability of Fannie Mae and Freddie Mac to promote the availability of home mortgage credit during a period of stress in the financial markets. Fannie and Freddie play a central role in our housing finance system, and we agree that they must continue to do so as we work through the current housing correction."

Source: National Association of REALTORS®

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Public Affairs

City of Columbia Heights
The City of Columbia Heights is attempting to institute a new Residential Inspection Before Sale (RIBS) program.The draft ordinance is scheduled to be heard by the City Council at their July 28 meeting. If approved, it would take effect August 28. Like other Inspections programs (i.e., Point of Sale) this ordinance will prohibit a home from being sold without inspection and issuance of a final Certificate of Property Maintenance by the city.

MAAR members are encouraged to participate in the next city council meeting, July 28, 7:00 p.m., Council Chambers, City Hall, 590 40th Ave NE. If you plan on attending, please contact Bill Gerst, Vice President of Public Affairs at billg@mplsrealtor.com or 952.988.3141.

Issue Resources:

• Notice to city residents (scroll down to "Notice to Home Owners...")
• Chart illustrating the sequencing of events prior to closing on a property
• City wants stronger neighborhoods (article from the Sun Focus, June 18, 2008)

Source: North Metro REALTORS® Association

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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.

And now prices have been rolled back! The new tuition for the 2-Day Real Estate Agent class is $349. See the flyer below for new pricing, including a $25 discount.

– click here or on the image below for details –

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MAAR 2008 Golf Tournament – Beat the Rush

Golf Cheap
The early bird special for the MAAR golf tournament ends Thursday, July 31. Don't miss out on an easy registration discount for this great golfing event.

Make Your Way to the Fairway
Now that we're finally getting some real summer weather, it's time to think about our annual golf tournament on September 8. Sign up early and assure that you'll be part of our popular annual tradition.

Newcomers welcome! | Click here or on the image below for registration and details!

Grip Tips: Don't Squeeze the Toothpaste Out of the Tube
Your grip should be in the fingers of both hands, not the palms. Most of the grip pressure should be felt in the last three fingers of your left hand. There is much less pressure in the right hand. There should be no pressure at all in the thumb and forefinger of the right hand. Click here for additional golf tips to make you swing like a pro. Source: Tom's Golf Tips, www.tomsgolftips.com

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Next WCR Meeting: Wednesday, August 6

The Women's Council of REALTORS® invites you to attend a dynamic social and business networking event at the trendy VIA CAFE in Edina! There will be delicious free appetizers, drawings for gas gift cards, a cash bar and a chance to mingle with friends and colleagues. Feel free to bring handouts of your current listings or photos of your summer vacation—just be sure you don't miss it! Take a deep breath, pull up a chair and relax. You've earned it!

Date and Time: Wednesday, August 6, 4:00–6:00 p.m.
Location: VIA CAFE, 6740 France Ave, 952.928.9500

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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Annual Cost vs. Value: Take the Survey

REALTOR® Magazine, in cooperation with Remodeling magazine, is surveying real estate practitioners for the 2008 Cost vs. Value report. Tell them about the returns that sellers in your market can expect from home remodeling projects, and you'll be entered into a raffle for one of four $500 prizes. take survey

Source: National Association of REALTORS®

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The 100+ – June 2008 Update

"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

The July Housing Supply Outlook is now available. Once again, in the interest of making your time with this detailed report tool as efficient as possible, here's a few items to watch for:

• The new construction market has achieved an important step towards its eventual recovery. The Months Supply of Inventory for new construction properties is now less than at this time one year ago—dropping slightly from 11.0 months in July 2007 to 10.8 today. This figure has been increasing steadily for several straight years. A drastic decrease in new construction inventory is the reason for the decline.
  
  
• Condominium prices continue to indicate healthier dynamics than the other property types, with both average sales price and price per square foot up slightly. This submarket seems to have peaked and flattened earlier than others, and also has far fewer foreclosures and short sales affecting overall price data.
  
  
• The entire market continues to shift downward to the lower price ranges, in both supply and demand—an indication of the growing prevalence of lender-mediated foreclosures and short sales in the Twin Cities.

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Americas Real Estate Expo, September 4–6

Through a special rate of $329, NAR members receive 4 days and 3 nights hotel, airport shuttle, social events and meals, and expo registration to Americas Real Estate Expo in Panama City, Panama!

Learn about Central America real estate Americas Real Estate Expo, which will play host to real estate developers, mortgage companies, banks, retirement service plans and life insurance companies from Argentina, Brazil, Ecuador, Costa Rica, Panama, Belize, Bay Islands, Nicaragua, Mexico and the Caribbean. The show brings worldwide buyers, real estate professionals, brokers, investors and financial institutions—all of the services and support for real estate investments and rentals within one venue.

Hotel and expo package includes:

• Meet & Greet at airport and transfer by shuttle bus to the hotel
• Expo Registration and Pass – September 5 and 6
• Entrance to scheduled seminars (reservation required)
• Social Events and Meals – Includes welcome cocktail, two lunches, coffee breaks at the convention center & farewell dinner party
• Hotel – 4 days and 3 nights at El Panama Hotel and Convention Center

Offer ends July 31, 2008 | register

Source: National Association of REALTORS® International

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STCAR Offers CRS 200 Core Course in September

CRS 200 Core Course: Business Planning and Marketing – September 10–11
The Southern Twin Cities Association of REALTORS® (STCAR) is hosting CRS 200: Business Planning and Marketing this September. Instructor Pat Zaby will give agents the tools to develop a business plan—which will include income goals and a budget—and to create a marketing plan to meet their personal objectives, resulting in increased productivity and profitability.

STCAR is offering a $25 discount for REALTORS® who register by Friday, August 8, plus this course is approved for 15 hours of Minnesota Real Estate Continuing Education.

Click here for more information about the course, the CRS designation and CRS electives. Contact STCAR Director of Marketing, Breanna Vanstrom, at bvanstrom@stcar.com or 651.452.6611 if you have further questions.

Source: Southern Twin Cities Association of REALTORS®

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Office Depot – Business AdvantEdge Partner

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