Weekly Market Activity Report

1,004. 1,046. 1,083. 1,078. 1,120. 1,185.

Notice a pattern? That's the number of signed purchase agreements each of the last six weeks in the Twin Cities housing market, growing most weeks as the spring buyer market heats up. The 1,185 pending sales during the week of May 9 were a robust 26.6 percent higher than the same week in 2008. Over the last three months, there have been 2,228 more pending sales than the same period last year.

There are some caveats to this good news:

1. Traditional home sales (excluding foreclosures and short sales) over those last three months are down 17.6 percent from a year ago.
2. Sales above $190,000 are down 19.2 percent from a year ago.
3. Sales of new construction homes are down 16.8 percent from a year ago.

Looking through a sharper lens is sometimes the best way to fully understand market dynamics. Take a look at our Housing Supply Outlook and foreclosures and short sales report to learn more.

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

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Home Sales Hot Streak Continues Into Spring Heat

April home sales in the Twin Cities were even stronger than March's upswing. There were 5,211 pending sales in April, up 23.8 percent from last April. This is the highest showing of signed purchase agreements in April since 2005 and the tenth consecutive month of year-over-year increases.

Of the month's pending sales, 46.0 percent were lender-mediated foreclosures and short sales—down from the last few months as more traditional properties are sold during the spring selling season but up from last year at this time.

The supply of homes for sale continues to experience sluggish growth this spring. There are currently 26,410 homes for sale in the Twin Cities, up 416 units from last month and down 18.4 percent from this time last year. The number of houses for sale for each buyer, as measured by our Supply-Demand Ratio, sits at 5.23 for May—down 28.6 percent from this time last year.

The median sales price for all properties in April of $153,000 is down 25.2 percent from a year ago. While this figure is mathematically correct, it is conceptually flawed. Since a higher share of sales this April were lender-mediated than last April, the number is skewed downward. The median April sales price of traditional homes was $205,000, down 8.5 percent from a year ago. Lender-mediated homes posted an April figure of $120,000, down 21.5 percent from a year ago.

Monthly Indicators

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The 100+ – April 2009 Update

"The 100+," our community level market tracking tool has been updated with data through April 2009. All real estate is local—even from block to block. "The 100+" was built with this micro-level geographic truism in mind.

GO TO THERE

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Housing Supply Outlook – May 2009

The May Housing Supply Outlook is available. Lately, there appears to be a jumbo-sized problem with home sales (if you know what we mean). Here's what to watch for:

While it's certainly welcome news that home sales are up in the Twin Cities metro, there's a big caveat to keep in mind pertaining to price points. All of the growth in sales can be found in the lower price ranges where foreclosure and short sales are more common.

The largest drops in home sales can be found in the price ranges above $350,000 where higher jumbo mortgage rates are charged to borrowers.

The inventory of homes for sale is now lower than it was a year ago for every price range except homes under $120,000, where it is still up 38.1 percent from this time last year.

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Referral Expo 2009

In case you haven't yet registered for the free Referral Expo 2009, it's not too late! Even if you cannot hear all ten speakers, you can pick and choose any that interest you. The Referral Expo is a virtual event held over the phone. There is a great line-up of referral experts who will be presenting over the next two weeks—every business day for 1 hour over the lunch hour (11:00 a.m.-noon, Central Time). | REGISTER NOW

Referral Expo 2009 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.

Dates: May 18–29
Time: one-hour presentation each day
Cost: FREE

Source: nsight Marketing

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Next WCR Event: Wednesday, May 20

Immigration in Minnesota:
What Does It Mean for Real Estate?
Four states currently have a "no majority race" population and five more are expected to reach that status in less than five years. According to the U.S. Census Bureau, the buying power of all ethnic groups will increase between now and 2030 with the exception of the caucasian group. In some cases, this buying power will more than triple in the next 20 years.

What does all this mean for Minnesota? What about real estate? Join us for this informative session featuring Laura Danielson, a well-known immigration attorney with Fredrikson & Byron in Minneapolis.

Date and Time: Wednesday, May 20; 11:30 a.m. (lunch), noon (program)
Location: Park Plaza Hotel, 4460 West 78th St Circle, Bloomington, MN 55435
Cost: $20 (members of WCR or Ignite!); $25 (nonmember)

CLICK HERE TO REGISTER

Plus: NAR & WCR Midyear Meeting Update

Sponsored by Ignite! The Multicultural Network of Real Estate Professionals (part of MAAR)

Source: Women's Council of REALTORS®

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Another Spot for Your Glamour Shot

Did you know that MAAR has a member search at www.mplsrealtor.com? Fellow members and the public have access to it. Your name, office name and address, office phone number, primary contact number, and website are displayed.

You can upload your photo and bio as an additional opportunity to showcase your marketing expertise. At the very least, you should check the accuracy of your profile information. If something changes (your mailing address or your email address, for example), use your member number and password to log in and update your profile.

MAAR uses the information we are provided by you for our member search. We also use this information to contact you about the latest market statistics, events, alerts, dues billing, Board of Directors ballot voting, and other important industry news.

Maintaining current email addresses has become increasingly important. Most of MAAR's communications are driven by email, including billing. Be sure that the email address we have on file is accurate—and that it's one that you check on a regular basis. | UPDATE YOUR PROFILE

Two screenshots given below. Because visuals are often helpful.

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MAARketing and Real Estate 2.0

My name is Greg Sax, and in addition to cobbling together this enotes thing every week, I served as an instructor for a 2-hour class called "Marketing for Under $100" during Membership Appreciation Week. In that class, I said I would do two things in enotes, which I did last week and repeat below. I also wanted to include a link to what I believe is one of the more impressive lists of Real Estate 2.0 websites. You've heard of some of the companies but probably not all of them. And one of those not-heard-ofs just might be what you're looking for.

The two other promised things for sharings:

1) share the meaty parts of the PowerPoint show | CLICK HERE TO VIEW IT
2) share how to share a YouTube video | SEE BELOW

Let's use last month's Monthly Skinny video as our starting point.

1) Find it on our home page at www.mplsrealtor.com.
2) Either click "YouTube" or on the image. | CLICK HERE FOR A SHORTCUT
3) You can pause the video in order to concentrate. It's okay. (see diagram below for instructions 3–8)
4) Below the video is a little bar that has "Favorite, Share, Playlists, Flag." "Share" is default selected.
5) Choose one shown or select "more share options."
6) If you click "more share options," you'll see more social networks, a link, and email options.
7) The URL is already on the main YouTube page along with customizable, embeddable code.
8) I have no idea why Susan Boyle constitutes a related video.

If you want to talk to me, start at gregs@mplsrealtor.com. If you think I should present at your Tuesday office meeting start with Chelsie Foty at chelsief@mplsrealtor.com. She's got good social networking game and produces The Monthly Skinny videos. So maybe consider her for an office visit as well. Good luck!

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The REALTOR® – Summer 2009 Issue in the Mail

The magazine's in the mail but you don't have to wait. It's also available...

RIGHT HERE!

Take care before you click! It's a whopper of a PDF at 16 MB. If you have an older computer, you may just want to wait for the print edition. If you're all teched up and you don't want a print copy in the future, send a message to...

notice@mplsrealtor.com

that says...

"no print magazine"

...in the subject line.

(We'll have a "flippy book" version of The REALTOR® available by next week if you like that better.)

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Public Affairs

Midyear News
REALTORS® from across the nation converged on Washington, DC for the National Association of REALTORS® Midyear Legislative Meetings and Trade Expo last week. REALTORS® met with Members of Congress and United States Senators about a number of important issues. | READ MORE

FHA to Step It Up
One important stride over the horizon came from Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, who said that the Federal Housing Administration is working on the means to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment. Donovan's remarks came in an address at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at Midyear.This hasn't happened yet, but it's good to know the government recognizes the importance of expanding the role of that $8,000. | READ MORE

You can now view media clips from the Real Estate Summit and Midyear. | VIEW VIDEOS

Source: National Association of REALTORS®

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Education and Professional Development

We're Popular!
The only classes available in May that aren't sold out are on May 22 and May 28 (see below). There are also classes in June.

May 19, 9 a.m.–noon, Essentials 4: Communication, the Client, & the RE Transaction – SOLD OUT!
May 19, 1 p.m.–4 p.m., Essentials 6: Sustaining a Consumer-Focused RE Business – SOLD OUT!
May 20, 9 a.m.–noon, The Online RE Consumer – SOLD OUT!
May 20, 9 a.m.–noon, Matrix – SOLD OUT!
May 20, 1 p.m.–4 p.m., Purchase Agreements that Pack a Punch – SOLD OUT!
May 21, 9 a.m.–noon, eEssentials 3: Word 2003 – SOLD OUT!

May 22, If you already have met one requirement and just need to fulfill the last remaining hour, here's your chance to take EITHER Agency OR Fair Housing, OR you can sign up for both. This is the first time we are offering them as separate classes. We hope this allows you to meet your needs better. Chris Prescott will be teaching both classes.

Agency will be from 9–10 a.m. on May 22
Fair Housing will be from 10:30–11:30 a.m. on May 22

May 26, 1 p.m.–5 p.m., Real Solutions – SOLD OUT!
May 27, 9 a.m.–noon, Short Sales – SOLD OUT!
May 28, 9 a.m.–4 p.m., Foreclosure Opportunities (Not eligible for the $99 Unlimited CE Pass)
May 28, 9 a.m.–noon, eEssentials 4: How to Excel in MS-Excel – SOLD OUT!

More classes available! Click the Calendar at www.mplsrealtor.com.

CE From the Convenience of Home—New Discount for Online Courses!
Earn continuing education credits in the comfort of your own home at hours convenient to you. Work on your continuing education anywhere with an Internet connection. All of our Hondros Learning online courses are approved for Minnesota CE credit.

Register now and take $5.00 off each individual course or $10.00 off a package. Simply use one of the discount codes listed below during checkout. Hurry! These offers expire on May 31, 2009.

Renewal Time!
One of our instructors, Chris Prescott, goes over information about license renewal in a fun and memorable way. He's allowing us to share it with you. | WATCH HIS VIDEO

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Fair Housing Forum

On Wednesday, May 20, the Regional Fair Housing Implementation Council (FHIC) is sponsoring two forums—one each in the west and east metro areas. The forums are for people who may have experienced housing discrimination directly or indirectly, are concerned about fair housing in our communities, and/or want to know more about the regional study of barriers to fair housing currently underway. Forums are scheduled in the afternoon and evening on May 20. It's important for interested and concerned people to attend one of the forums. This is your opportunity to be heard. No reservation is required. | VIEW FLYER

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Jerry Teeson Wins 2009 Distinguished Service Award at Midyear

The two winners of the 2009 Distinguished Service Award are Jerry Teeson, GRI from Coon Rapids and David Peretti, GRI, from Winchester, Mass.

Hey, we got a Minnesota guy in the mix!

Jerry may be one of North Metro's finest, but we still like him here at MAAR!

Congratulations, Mr. Teeson. It is an honor truly deserved.

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News from NorthstarMLS

BookAShowing Announcement:
Starting Tuesday, May 26, Overlapping
Appointments Allowed By Default
Currently when you enter a new listing into NorthstarMLS, it is automatically set on BookAShowing to not allow overlapping appointments. You have to manually adjust the settings on the appointment to allow overlaps. Due to popular demand, that will change starting Tuesday, May 26. On that date, the default will be to automatically allow overlapping appointments. If you do not want to allow overlapping appointments for a new listing, it's easy to change the setting (click here for instructions).

Appointment overlap settings for listings entered before May 26 will not be changed. Whatever settings you have for overlapping appointments on those existing listings now will remain the same. If you have questions, contact the NorthstarMLS Help Desk at mlshelp@northstarmls.com or 651.251.5456.

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Supra DisplayKey Billing Notice

GE Supra will be billing in June for the next year's lease on your DisplayKey.

It will be due July 17.

If you have not paid last year's lease payment yet, you will need to be current before you are able to use your DisplayKey again.

If you have questions or concerns, please feel free to call MAAR at 952.933.9020 or contact Supra directly at 1.877.699.6787.

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Next Free Seminar with RealEstateHomePages.com is June 5

JOIN US... for our informative 2 hour seminar to grow your business, automate your marketing, and preview the best website and property search system in the Twin Cities. Sign Up Below.	SEMINAR INCLUDES Full Training on Website Options Search Engine Optimization Lead Capture Drip Email and Much More!
Friday June 5 Click Here to Sign Up Today! MAAR at Real Financial Center 4450 W, 76th St. Edina, MN 9:30-11:30am Directions
WEBSITE FEATURES Google Map Property Search 100% Editable Lead Capture Search Engine Friendly Unlimited Pages Free Local Phone Support No Contracts $39.95 Includes website and MLS Search

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e-PRO® – Next Workshop is Monday, June 1

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:
5750 Lincoln Drive, Edina, MN 55436
Monday, June 1, 2009, 10:00 a.m. – 11:00 a.m.
(with 30 minutes extra minutes for questions)

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So, You Want To Sell Your LAND Conference

One of the largest real estate events in the Twin Cities.
Over 500 people attend each year!

So, You Want To Sell Your LAND Conference: Successful Strategies for Marketing Your Property

Date: Thursday, May 28
Location: Golden Valley Country Club , 7001 Golden Valley Rd, Golden Valley, MN 55427
Time: 7:15 a.m. (registration & continental buffet), 7:55 a.m.–noon (program)
Cost: $99, $129 Day of Event
Credits: 4 hours of real estate, appraisal and legal CE credits applied for
Register

Speakers Include

• Congressman Erik Paulsen, U.S. House of Representatives
• Elwyn Tinklenberg, The Tinklenberg Group
• Mayor Doug Anderson, City of Dayton
• Samantha Orduno, City of Dayton
• Henry Fischer, St. Cloud Area Economic Development Partnership
• Catherine Mehelich, City of Elk River
• Tom Gump, Neighborhood Development Partners LLC
• Kevin Goodno, Fredrikson & Byron PA
• Brian McCool, Fredrikson & Byron PA
• Joe Springer, Fredrikson & Byron PA
• James Lockhart, Wipfli LLP
• Tim Lenway, Braun Intertec
• Ron Shaffer, Braun Intertec
• Steve Schwanke, RLK Incorporated
• Ted Gonsior, NAI Welsh
• Jon Rausch, NorthMarq

On the Program

• The Importance of Transportation Infrastructure and How Governmental Dollars and Regulations Will Impact the Development Industry
• Stimulus, Infrastructure Funding, and the Double-Edged Sword
• How to Maximize the Value of Your Land and How to Find Equity and Protect Your Proceeds
• Engineering & Environmental Work to Improve Your Land Value
• How to Effectively Work With Municipalities
• How to Sell Your Land in Our Current Market

Register | Full Program

For registration questions, contact Stephanie Awe at sawe@recg.com or 952.405.7785.

Source: Real Estate Communications Group

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Seeking Five Good Neighbors to Receive $10,000 Grants – Deadline Looming!

REALTOR® Magazine is seeking nominations for the 10th annual Good Neighbor Awards. The program recognizes REALTORS® who have made an extraordinary commitment to community service. Five winners will be announced in November in REALTOR® Magazine and at the 2009 REALTORS® Conference & Expo in San Diego.

The winners will receive a $10,000 grant for their community cause, national publicity, travel expenses to the convention and a crystal trophy.

Entries must be received by May 22, 2009.

Entry Forms, Rules, Criteria | FAQ

Source: REALTOR® Magazine, National Association of REALTORS®

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