Weekly Market Activity Report

The Twin Cities Housing market has seen some impressive highs and puzzling lows this year. Unfortunately, the lows have persisted through summer, despite low interest rates and a diverse and affordable housing stock.

Although New Listings are about where they were last year (near 1,600), Pending Sales remain as low as they've been all summer. The week ending August 14 bore just 631 signed purchase agreements, down 38.5 percent compared to last year. The three-month total for pendings is 8,018 compared to 13,830 last year, which is an even heftier decline of 42.0 percent.

Active Listings are up to 27,784, 8.1 percent more than last year. Growing inventory is not the result of too many homes coming on the market but rather a product of not enough homes going off the market. With Months Supply of Inventory now at 7.8, it still remains a buyer's market out there.

VIEW FULL REPORT | VIEW MORE RESEARCH REPORTS

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BOD Online Election | Watch Vios | Vote Now

Board of Director candidate video biographies (vios) are back. Here are their vios & bios in alpha order:

Tom Hoffman
Watch Vio | Bio

Marge Kane
Watch Vio | Bio

Claire Killen
Watch Vio | Bio

Cotty Lowry
Watch Vio | Bio

Nene Matey-Keke
Watch Vio | Bio

Karen Tobler
Watch Vio | Bio

Ballots must be cast online. You can vote for up to three candidates.

Check your email inbox for your unique voting login information sent on August 17. The email was from MAAR Election Coordinator.

Your Vote Counts!
If you are not regularly receiving emails from MAAR, please go to “My Account” at the top of www.mplsrealtor.com. Enter your Login ID and Password to verify your email address.

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The REALTOR Autumn issue

A Pretty Good Magazine.

Hot off the Internets, The REALTOR Autumn issue is here! Be the first to read it. Instant online magazine browsing isn’t so bad. A print copy will reach your doorstep soon (unless you opted out).

Find exclusive information on topics that relate to your business.

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Video – The Skinny Video En Español

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Spanish version narrated by Karen Tobler (REALTORS®). English version narrated by Mark Allen (Chief Executive Officer, Minneapolis Area Association of REALTORS®), audio recorded by Zach Foty and video produced by Chelsie Lopez.

NEW. WATCH THIS MONTH'S VIDEO IN SPANISH

WATCH THIS MONTH'S VIDEO IN ENGLISH

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The 100+ July 2010 Update (posted August 11, 2010)

Fresh stats. Our tracking tool for local housing market activity has been updated with data through April 2010. GO TO THERE

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NEW. Housing Supply Outlook – August 2010

The inventory of homes available in the lower price ranges is growing dramatically from last year. With the number of new listings in these segments outgrowing sales, the number of available homes has grown. For instance, at $120,000 and below the current Months Supply of Inventory of 5.2 is a jump of 52.6 percent from last year at this time.

Inventory in the higher price ranges is now dropping as sellers have pulled back on their new listings. All price ranges above $250,000 now have fewer homes for sale than they did a year ago.

Home prices are softest in the condominium category, where the average Price Per Square Foot has dropped 13.9 percent in the last year. VIEW HSO

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MLS Billing Cycle Moves Up a Month

We are adjusting our MLS billing to align our accounting workflow with the other local associations. This small change will result in increased staff productivity and enabling brokers to easily manage their agents' MLS fees no matter which association they are a member of. MLS fees will now be billed one month prior to the beginning of each quarter. You will still have 30 days to make your payment.

The fourth quarter billing cycle will begin September 1 with a due date of September 30. | Detailed Billing Schedule

If you have questions about Direct Agent Billing, email accounting@mplsrealtor.com or call 952.933.9020.

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Houselogic – Audit Your Insurance

Are homeowners over- or under-insured? Share free money-saving tips from the August “Audit Your Insurance” article package at the REALTOR® Content Resource, the members-only tool of NAR’s consumer-facing Web site, HouseLogic. | MORE INFO

Source: National Association of REALTORS® (Houselogic.com)

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NorthstarMLS – Rentals

NorthstarMLS to Add Rental Properties
Soon you will be able to input and search rental properties on NorthstarMLS! The technical pieces are almost complete. We are awaiting final approval of the new lease forms from the Minnesota State Association. They expect to have them available no later than September 1. | MORE INFO

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Supra iPhone Adapter

iCan’t believe it’s finally here!

Supra eKEY service for the iPhone platform has arrived. The Supra iPhone Adapter plugs into the 30 pin dock connector. It adds Infrared to the iPhone. It is designed to hang from a key chain when not in use. When you are ready to show a house, just slide it out of its cover, and plug it into your iPhone.

You can visit the App Store to download the program; but before you can use it you will need to obtain the adapter from Supra. The order form is located here. You will also need a key serial number from MAAR to authorize the program.

| MORE INFO

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Education and Professional Development

OMG! New fall class schedule just revealed in The REALTOR®.
Take a peek.

MAAR CE Online Class Opportunities August!
Enroll today and receive a 10% discount on your entire order!

Enter Promo Code: CNV10
Expires: August 31, 2010 | MORE INFO
Source: CE Shop

Unlimited CE Passes
You can purchase the CE pass online, over the phone, or at the MAAR office. You will need to wait until approximately 9:00 a.m. the next business day for your card to be activated which allows you to register. Get yours now while supplies last! Please be aware of the change for the 2010 Unlimited CE Pass: After three course "no shows" (not attending a class for which you are registered), your CE pass will be terminated. To cancel your course please call or go online.

Compass Academy Applications
This program fosters the personal leadership skills required to make bold business decisions in a fiercely competitive industry. Participants learn and practice key concepts of personal leadership. Group sessions include interactive learning and are supplemented with individual coaching. For more information, contact Nancy Scott at nancys@mplsrealtor.com or 952.988.3128.

For all your education needs go to our education page or call us at 952.908.2602. 2010.

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Financial Services Reform Webinar – Thursday, August 26

President Obama in mid-July signed sweeping financial services reform into law. The 2,300-page law creates an oversight agency for financial services companies and a consumer financial protection bureau. It also includes provisions to curb risky mortgage lending and to address appraiser selection by lenders. Your members can register for a free webinar that covers the real estate-related provisions. The webinar takes place Thursday, August 26, at 2 p.m. Also, watch and link to a video on the law and read a summary from NAR Government Affairs. | MORE INFO

Source: National Association of REALTORS®

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Ignite! Multicultural Network Session, September 8

59 Minutes to Success: Stop and Give Me 20
Devoting time to your business and prospecting is so important. Many professionals struggle with basic business survival skills. Learn 20 useful prospecting tips to strengthen and grow your business.

Speaker: Dwayne Carte
Date: Wednesday, September 8
Time: 11:45 a.m. – 12:44 p.m.
Location: Royal Credit Union, Edina Office
Address: 4450 West 76th Street, Edina, MN 55435
Cost: Free Lunch and Session

To register, Contact Donnie Brown donnieb@mplsrealtor.com.

Ignite! Multicultural Network of Real Estate Professionals serves as a platform for real estate professionals to obtain information on building a better business while expanding their cultural network. Ignite! is comprised an assortment of real estate professionals.

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Real Estate Tech Tank, September 16

RETT—Real Estate Tech Tank talks "Mobile"! In the market for a new smart phone, iPad or laptop? We'll compare and contrast the iPhone to the Android phone to the Blackberry; and laptops to the netbook to the iPad, plus download and discuss hot mobile tools and techniques for REALTOR®. Mobile storage, productivity apps, live video for virtual showings, real-time real estate concepts and more!

Time and Date: 1 p.m. – 3 p.m., Thursday, September 16
Location: MAAR Office

Facebook.com/rettmpls | Twitter: #rett

Real Estate Tech Tank Tip from Nobu Hata

Ustream | http://ustream.tv

What is it? It’s a free service that allows you to stream video from your smartphone to your private channel on ustream.tv. With a fast-rising community, it’s already one of the top “livestreaming” sites on the web, linkable to Twitter and Facebook. Go to ustream.tv and start a free account, then download the app to your iPhone or Android device.

Realtor Tip: Everyone has their eye on “that house.” You know… the one that neither you, nor your (out of state?) client can make heads or tails of. The house that you’ll end up previewing and later end up showing, right? Save yourselves the time and energy; why not tell your client that you’ll previewing the home, and for him/her to accompany you virtually on your ustream.tv channel!

Advanced tip: Record, instead of livestream your videos; home marketing, neighborhood walkthroughs, lifestyle and events documentation, market updates, all make for the perfect video-blog. Your phone is more than an email and MLS device. Link your Ustream to your Twitter account and expand your sphere.

Remember: The rules of social media communities apply, constant self-promotion doesn’t work. Keep recordings short, sweet, and simple, never more than a minute. Always ask permission!

Tip from Previous Week:
Dropbox.com

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Yo Pro Happy Hour at Brit's Pub, September 16

Date: Thursday, September 16
Time: 5:00 p.m. – 8:00 p.m.
Location: Brit's Pub
Address: 1110 Nicollet Mall, Minneapolis, MN 55403-2405
To Register: Contact Aubray Erhardt aubraye@mplsrealtor.comCost: Free.

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Roadmap For REALTORS® For Community Stabilization, September 17

With special guest, Hennepin County Commissioner Jan Callison

Date: Friday, September 17
Time: 9:00 a.m. – noon
CE: 2 hours plus a 1-hour roundtable with community experts from Minnesota Home Ownership Center, Minnesota Housing Finance Agency, City of Minneapolis and Twin Cities Community Land Bank.
Location: Minneapolis Area Association of REALTORS®
Address: 5750 Lincoln Drive Minneapolis, MN 55436-1694


REALTORS® understand the negative impacts of the foreclosure crisis and how it affected our communities but are often unfamiliar with federal, state and local resources that help address these issues. The National Association of REALTORS®, in partnership with the National Community Stabilization Trust, launched a new initiative to help REALTORS® learn about tools and programs available to help stabilize communities, work with local government housing providers and put homes back into the hands of stable homeowners.

To Register: Contact Delores Dahlsten deloresd@mplsrealtor.com or call 952.908.2602. Cost: Free.

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NARdiGras '10 in Nawlins! Nov 5–8

Join REALTORS® from across the nation and the world in New Orleans this November, and learn about changing issues affecting the industry, share ideas with colleagues outside your local marketplace, and see the incredible innovations that are shaping the future of real estate. | MORE INFO

Source: National Association of REALTORS®

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