Week of April 13, 2009
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It's becoming a wild and active spring for the Twin Cities housing market. First, pending sales ought to give REALTORS® some joy in their Easter baskets, with 1,004 reported for the week ending April 4—a 28.7 percent increase over last year and the best single week since May 2007. New listings went skyward compared to last week with 2,055 for the week ending April 4, but they remain 11.2 percent behind the same week a year ago. The recent jump in sales is bringing the supply of available homes down even further. There are currently 26,085 homes on the market in the region—17.5 percent below this time last year and good for 7.7 months of supply. Finally, like Warren Robinett in Adventure, this week's WMAR has its own Easter egg tucked away. The Housing Affordability Index for April has grown to 218, which means the median family income is 218 percent of what's necessary to qualify for the median priced home. For those of you scoring at home, that's a 40.8 percent increase over where we stood last year at this time and is 77.3 percent over our low point of 123 in July 2006. We have to bear in mind that increased lender-mediated activity makes that number supernaturally high. All in all, dropping prices, low mortgage rates and government incentive programs for home buyers are making this a spring to remember. Click the logo below or click here for this week's full report. Visit Market Info for more research reports.
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Twin Cities home sales kicked into a whole new gear in March, and this appears to be more than just a seasonal shift. The 4,407 pending sales in March 2009 were up 21.3 percent from March 2008. That's ten consecutive months of year-over-year increases in pending sales and the largest such increase since December—another month in which mortgage rates dropped precipitously. First quarter pending sales are up 13.7 percent from 2008, a jump of 1,267 units. Of the month's pending sales, 53.5 percent were lender-mediated foreclosures and short sales—down from the last two months. The median sales price for all properties of $154,125 in March is down 22.9 percent from a year ago, skewed heavily downward by the increased prevalence of foreclosures and short sales. The median March sales price of traditional homes was $215,000, down 2.3 percent from a year ago. Lender-mediated homes posted a March figure of $122,000, down 23.0 percent from a year ago. Three key barometers of market recovery showed signs of hope in March:
An uptick in sales over the last ten months has combined with a decline in new listings to draw down the total number of houses for sale. There are 26,104 homes for sale in the Twin Cities, down 14.8 percent and 4,548 units from one year ago. We'll be releasing a Monthly Skinny Video soon, but for now you can check out MAAR on TV.
KARE-11 TV with Steve Havig | KSTP-5 TV with Todd Shipman |
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FREE STUFF! Member Appreciation Week: May 4–8
Class seating is limited, so we have implemented a one-class limit for these free classes. On the registration form, you will be asked to select your first choice followed by two alternate choices. You will be notified in advance what class(es) you get into. Free is good. Free lunch will be available at the MAAR office on Wednesday and Thursday, May 6 and 7 from 11:00 a.m. to 1:00 p.m. Enjoy brats, hamburgers and veggie burgers with the works served to you by MAARtians (MAAR employees). We'll have free ice cream on Friday from 10:00 a.m. to 2:00 p.m. at the Slurp n' Drip, MAAR's one-day moniker for this ice creamy event. CLASS DETAILS | REGISTRATION FORM (required!)
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Broken or Defective SafeMLS Token? Easy Replacement Process
Source: NorthstarMLS |
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"The 100+," our community level market tracking tool has been updated with data through March 2009. All real estate is local—even from block to block. "The 100+" was built with this micro-level geographic truism in mind. |
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Housing Supply Outlook – April 2009
New construction homes continue to go dodo. There are currently 3,149 new construction units listed for sale in the MLS system, down 25.0 percent and more than 1,000 units from a year ago. Unfortunately, sales are down even farther, which has pushed the Months Supply of Inventory for new construction properties up to 11.3 months. Home sales are increasing in the Twin Cities, but the rise is entirely in the single-family detached segment; both townhomes and condominiums are selling less frequently this year than they did a year ago. Similarly, the recent uptick in sales has missed the upper bracket market. Home sales above $190,000 are down 20.0 percent in the last year. |
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Yo Pro Roll Call: A Short Survey
We have a survey for you that includes just four items, and we predict that it will take less than two minutes to complete. Your feedback is very important to the success of the Yo Pro young professionals network. |
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Effective Referral Strategies Referral Expo 2009 is a "virtual expo" conducted over the phone. It includes a stellar line-up of authors, successful business people and consultants that will give our members tools and ideas on how to build and grow their business through referrals. Ten incredible referral experts have agreed to donate their time and expertise to help MAAR members flourish during these challenging times. MAAR is a co-sponsor this event, and MAAR member Nobu Hata will be one of the ten speakers.
Source: nsight Marketing |
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Home Ownership Industry Training
Presenters Mortgage Products Presenting Partners Source: City of St. Paul |
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NAR's Green Designation
Green By Design Register now for the 4th annual statewide Green by Design conference and training aimed at providing housing developers, builders, contractors, architects, city planners, environmentalists, funders, and other professionals the tools needed to build energy efficient, healthy, and sustainable housing. Multiple tracks will be offered, including sessions by local and national experts that focus on various elements of the Green Communities criteria (a set of nationally recognized green affordable housing standards) and other related topics. Examples of successful green building projects, including both multifamily and single-family developments, new construction and rehabilitation, will be highlighted throughout the conference. Keynote Speaker Hunter Lovins Topics of interest include:
Source: Minnesota Green Communities
Sustainable Design & New Technology Conference
Program Agenda:
Source: Real Estate Communications Group; REjournals.com  |
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Members Needed for Focus Groups for the Fair Housing Implementation Council
Local county and city entitlement entities conduct an Analysis of Impediments to Fair Housing every ten years. Participating jurisdictions include Anoka, Carver, Dakota, Hennepin, Ramsey and Washington counties and their major cities. Because housing markets don't respect jurisdictional boundaries, the governments have banded together as FHIC to address Fair Housing issues. Western Economic Services, an experienced research consultant, has been selected to complete the Analysis of Impediments. Other focus groups include REALTORS®, public policy staff and rental representatives. For good discussion, we'd like to limit participation to about 20 REALTORS® from across the metro area. Please contact Denise Beigbeder at denise.beigbeder@co.ramsey.mn.us or 651.266.8005 if you plan to attend or have comments you'd like to make for the record.
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Education and Professional Development
Designation Week: These courses are not included in the $99 CE Pass, but if you have the pass, call to register to receive a 10 percent discount. Effective Negotiating for RE (ABR Elective), April 15, currently $69. On Wednesday (April 8), the price increases to $99. Green Designation 2-day core course, April 16–17. Currently $249. On Thursday (April 9), the price increases to $299. Courses included in the CE Pass that have seating available: Agency & Fair Housing, April 20, 6:00 p.m.–8:00 p.m. (night class!), Minnetonka Community Center, 14600 Minnetonka Blvd Matrix, April 22, 9:00 a.m.–noon (PDC@RFC) St. Therese Catholic School, April 22, 8:30 a.m.–11:30 a.m. (St. Therese), Featured class! This course will prepare REALTORS® to discuss exceptional school options that encompass pre-kindergarten through 12th grade with their clients who are seeking nonpublic alternatives. Building a stronger foundation: St. Therese Catholic School, Holy Family Catholic High School and the City of Deephaven. Registration and continental breakfast begin at 8:00 a.m. | VIEW FLYER (pdf) Agency & Fair Housing, April 22, 1:00 p.m.–3:00 p.m. Communicating with Style, April 28, 1:00 p.m.–4:00 p.m. |
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Our Tools: Find Code of Ethics and other Fair Housing resources at realtor.org. Many of our popular Fair Housing classes have already filled up, but we do still have one available (click to register): Monday, April 20, 6:00 p.m. – 8:00 p.m. |
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Learn from Barb Schwarz, the creator of Home StagingTM and The Accredited Staging Professional CourseTM, and her ASP Training Team. This course will be taught by ASP Course Trainer, Jeannie Berger. Day 1: You will focus on using Home Staging as a real estate marketing tool. The two-day training includes classroom instruction and an onsite Home Staging field trip. At the end of the day, you will receive your ASP Real Estate Agent designation and certification.
– click here or on the image below for more details –
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e-PRO® – Next Workshop is Monday, April 20 Attend the InternetCrusade® Technology Workshop featuring the e-PRO® Certification course, the only technology course offered and endorsed by NAR. You don't have to be a technology expert to attend this program. Get in tune with the wants and needs of today's Internet-empowered buyers and sellers. Start working smarter. Enroll at this FREE workshop and receive a $25 discount from the normal $359 fee and an 8-month enrollment (instead of 6 months) for this online course. Call 1.866.377.0627 (toll free) or click the link below to sign up today! e-PRO® Workshop at MAAR's Office: Monday, April 20, 2009, 11:00 a.m. – 12:30 p.m.
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Spring Seminars with RealEstateHomePages.com
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Using Local Data to Inform Community Development
CURA's Community GIS program has made use of a variety of widely available public data sources at the block level and below to help neighborhood organizations achieve their community development goals. This presentation will highlight several recent projects and explore data and resources available to local non-profits, many of which are under-utilized or unknown. RSVP required by April 15 to 612.625.2086 or curahf@umn.edu. CURA Housing Forums are free of charge and open to the public. To sign up for CURA Housing Forum notices, go to www.cura.umn.edu or email your request to curahf@umn.edu. |
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Free Webinars: Create and Send Direct Mail from Your Computer
Free webinars have been designed to give businesses some smart and imaginative solutions for planning a Direct Mail advertising campaign. The webinars can be found on www.usps.com/directmailonline and anyone can sign up for free. Webinar Topics Customizing Your Mail Pieces – Wednesday, April 15, 2009, Noon–1:00 p.m. Mail Piece Design – Wednesday, April 29, 2009, Noon–1:00 p.m. Address List – Wednesday, May 13, 2009, Noon–1:00 p.m. The webinars will teach you how to create postcards, purchase mailing lists, and design entire mailing campaigns on your computer from start to finish, while providing training and ideas from industry experts. Source: U.S. Postal Service |
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Distressed Real Estate Summit, April 17 – Credits Approved Date: Friday, April 17, 2009 Topics include:
Source: Real Estate Communications Group; Minnesota Real Estate Journal |
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The 2009 Minneapolis & St. Paul Home Tour will feature 60 homes—39 in Minneapolis and 21 in Saint Paul. Homes on the free, self-guided tour will be open Saturday, April 25, 10:00 a.m.–5:00 p.m., and Sunday, April 26, 1:00 p.m.–5:00 p.m. regardless of weather conditions. The Tour is coordinated by the Minneapolis Neighborhood Revitalization Program in conjunction with the City of Saint Paul Planning and Economic Development department and is supported by other public, corporate and nonprofit sponsors. Residents open their doors to show creative and practical ideas for home additions, kitchens, bathrooms and more. Talk directly with homeowners and find out what it's like. At many homes, their contractors, architects, and other trades people will also be on hand to answer questions. Start at www.MSPHomeTour.com or pick up a printed guide at libraries in Minneapolis, Saint Paul, and suburban Hennepin and Ramsey counties.
Source: Minneapolis Neighborhood Revitalization Program |
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If you have not yet registered for your FREE account, you can start today by following these registration instructions (registration must be completed by the head broker):
An optional upgrade includes detailed reports that will provide measurements comparing the performance of the sites you choose to show your listings on. Which site drives more traffic? Which sites have the most qualified traffic? You can even find out where your online consumers are geographically located and what property characteristics are most popular. What's available: Company-wide reports, agent-specific reports and individual reports for each listing, branded and consumer-ready. | VIEW PRICING AND SAMPLES To discuss the ListHub in person, contact info@listhub.com or 877.847.3394, ext. 1. NOTE: ListHub licenses RMLS data for use in its product for the exclusive use of RMLS subscribers. Source: ListHub |
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MongoFAX Online Training! Training is not required but is highly recommended. Click here to register for one of our upcoming webinars, or contact the MongoFAX Training team at training@mongonet.net. MongoFAX Customer Support: 1.866.482.2229. Source: MongoFAX®, Minnesota Association of REALTORS® |
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The Green Designation program includes 18 hours of coursework, and REALTORS® who earn the designation are prepared to help consumers and clients in their search for environmentally friendly properties and to incorporate green principles into their own practice. MAAR will be offering the Green Designation Course and Green Residential Elective on the following dates:
L. Hunter Lovins is president and founder of Natural Capitalism Solutions, a nonprofit organization in Colorado. An internationally recognized leader in helping companies and communities profit from more sustainable practices, Lovins has co-authored 12 books. Her areas of expertise include globalization, land management, energy, water, and green and community economic development. She is also a founding Professor of Sustainable Business at Presidio School of Management and was named Time Magazine's 2000 Hero for the Planet.
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Area Association of REALTORS®.
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