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For only the second time since the end of last year's tax credit, there were more Pending Sales for a given week than in the prior year. A total of 958 buyers entered into contract for the week ending May 14, an increase of 15.4 percent and the highest number of pendings since the week ending May 8, 2010. But let's not get too excited just yet, because this apparent shift in Twin Cities home purchase activity was primarily driven by the post-tax-credit slowdown seen at this time last year. To illustrate this point, 2011 sales activity has increased 4.1 percent since the final week of April, while 2010 saw a 43.5 percent decrease during the same period. On the supply side, New Listings have come back in line with historical norms for this time of year. Sellers brought 1,704 new homes online, or 7.7 percent more than the same time in 2010. Again, 2011 activity has been fairly stable over the past month while 2010 activity declined by nearly 33 percent. The 23,739 Active Listings for Sale have grown slightly over the course of the year, but remain 10.1 percent under 2010 inventory levels or about 2,700 units slimmer. All those crunches are really starting to pay off as we enter bikini season. VIEW FULL REPORT | VIEW MORE RESEARCH REPORTS
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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. Narrated by Jeff Allen (Research Director, Minneapolis Area Association of REALTORS® and 10K Research | Marketing), audio recorded by Zach Foty and video produced by Chelsie Foty. |
Nationwide Open House, June 4 – 5...pass it on! Join REALTORS® coast-to-coast for this two-day Nationwide Open House (NOH) on June 4 – 5 to help promote the benefits of home ownership and highlight the value of working with a REALTOR®. | FLYER Participate in the Nationwide Open House for almost nothing.
How to Host an Open House Field Guide |
Tornado Relief | How to Help Your Community
Urban Homeworks is organizing volunteers to help with the immediate cleanup efforts. To learn more check out Urban Homeworks and the American Red Cross Twin Cities chapter. To receive information on volunteer and donation needs, “Like” Urban Homeworks on Facebook. | WEBSITE
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Call for Action | 20% Down Payments Does 20% Down Put the American Dream Out of Reach?
Neither can we. And neither can many elected officials in Congress who did not intend for these regulatory provisions to be so narrowly defined. We must continue our efforts to explain how detrimental the new QRM rules would be to the ongoing housing and lending crisis in America. According to NAR Research, 60% of recent home buyers made less than a 20% down payment. It would also take 14 years for a typical person to save up a 20% down payment to buy a median-priced home. Please contact Congress today and ask them to make it clear to the regulators that this proposed regulation was not their legislative intent and to instead implement a more reasonable QRM that will keep creditworthy buyers in the market and able to acquire a loan. | TAKE ACTION Source: National Association of REALTORS® |
Lots For Sale For Single-Family New Construction
The nine residential lots range in price from $50,000 to $65,000. Build it “Green-certified” and receive a $5,000 credit. For more information, contact the Housing Specialist at housespecialist@cityofrichfield.org or call 612.861.9778. Source: City of Richfield |
App- iHandy Soft Level, fully functional with calibration capability iHandy Level is Accurate iHandy Level (one of the 5 tools in iHandy Carpenter toolkit) is free! Unlike some other levels in the App Store, this one is fully functional with calibration capability. | MORE INFO Calibration Instructions: The sensor inside every individual iPhone or iPod touch could be built slightly different so to make the level more accurate for your device, you need to calibrate before use. |
Leadership Opportunities, Get Involved The Nominating Committee seeks qualified candidates to serve as Directors of the Association(s). The Nominating Committee will interview all potential candidates for each of the three Board categories; local, state and national board positions. Director candidates must be a MAAR REALTOR® member in good standing.
If you have an interest to serve on one of the following boards, please complete the leadership application. Contact Donnie Brown at donnieb@mplsrealtor.com if you have any questions. |
Matthew Peterson, Local REALTOR® is REALTOR® Mag's "30 under 30"
What they share is a personal drive to be the best and provide a higher level of service to their clients. Whether you’re 25 or 75, you will find their stories inspire a passion to succeed. Matthew Peterson, local REALTOR® was inspired by "30 Under 30" profiles he read in REALTOR® Magazine so he co-founded Prodigy Real Estate in 2004. "I think the biggest mistake people make getting into the business is not showing up. They don’t realize the hardest thing in the world is to be your own business," says Peterson, who learned about budgeting and cash flow from his parents, who were small-business owners. | MORE INFO | FULL LIST Source: REALTOR® Magazine "30 under 30" |
Education | Social Media Revolution, 3 Credits + Free Lunch
This class is hosted by K Hovnanian Homes and is not part of the EPD PASS. More than 9 out of 10 real estate consumers are involved in social media while less than 2 out of 10 REALTORS® can be found on social media sites like Facebook, Twitter of Linked-in. | MORE INFO Date and Time: May 25, 10:00 a.m. - 1:30 p.m. Complete Your License Requirements in 2 Days Looking to get your 15 hours done as fast as you can? How does 2 days sound? MAAR Is hosting a 1-2-3: Done event in May. Register once for 15 hours of CE. Attend the two day classes and complete this year’s license renewal cycle. | REGISTER
Instructors: Dwayne Carte and Rob Mehta
Construction activities at the Hwy 169 and Bren Road interchange will require short-term closures of the roadways and ramps, with bridge removal and replacement anticipated to begin in June. | MORE INFO | MAP
Source: City of Minnetonka, MNDOT, City of Edina
Register: CLICK HERE
View upcoming classes, events and programs. ALL CLASSES (month at a glance).
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MAAR Delegation Takes the Hill NAR 2011 Midyear Meetings, Washington D.C.
Top priorities for REALTORS® during these visits included preserving the mortgage interest deduction, ensuring future access to the secondary mortgage market by reforming government-sponsored enterprises like Fannie Mae and Freddie Mac and maintaining public sources of property insurance. MAAR REALTORS® visited almost all of Minnesota’s Congressional Representatives, including face-to-face meetings with Senators Klobuchar and Franken. Many of the legislators were receptive to the ideas our REALTORS® support, but much work is still needed in order to ensure the passage of legislation that will bolster the housing industry as well as the economy in general. Minneapolis Area REALTORS® visited Capitol Hill as a part of NAR’s Mid-Year Meetings, the annual conference held in Washington, D.C. Attending agents learn about and discuss federal legislation that has broad-reaching implications for real estate practitioners as well as consumers. | MORE INFO | PHOTOS
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Webinar: Impact of FTC's MARS, May 26
NAR attorney, Finley Maxson and NAR policy representative, Charles Dawson will discuss the rule's disclosure requirements and provide the latest on the FTC's clarifying language. | MORE INFO Date and time: May 26, 2:00 p.m. – 3:00 p.m. Source: National Association of REALTORS®
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Nationwide Open House, June 4 – 5
For sellers, this weekend provides a high-visibility effort to promote traffic and drive home sales. | MORE INFO
NOH Balloons have arrived! Pick up a few at the MAAR office today.
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RE BarCamp Sold Out. Wait List Only. We've hit our goal, 400 RSVPS! Thank you to all that registered. If you signed up but are unable to attend please remove your name from the list so others can fill the spot. | WAIT LIST | WEBSITE Topic Ideas: Thank you sponsors!
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Dress For Success – Clothing Drive, June 16
Yo Pro and WCR Clothing Drive and Happy Hour – What's on the menu? Tator Tots, Red Rockets, Brown Sugar Babies & more! Date and Time: June 16, 4:00 p.m. – 7:00 p.m. If you are interested in volunteering, becoming a drop-off site or contributing to this organization, please contact Aubray Erhardt at aubraye@mplsrealtor.com. If you are interested in Image coaching, there is training on the 3rd Saturday of every month, 1:00 p.m. – 4:00 p.m. It is at the Dress For Success location, 1549 University Ave, St. Paul, MN To sign up contact Stephanie Silvers, Program Coordinator at stephanie@dressforsuccesstwincities.org or call 651.646.6000.
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Minneapolis and Saint Paul are having a fund raising contest on who can raise the most money for RPAC. Right now Saint Paul has a slight lead but we can do better. MNRPAC is planning a Motorcycle and Classic Car Rally and Dinner Ride on July 13. | MORE INFO
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Registration Open for NAR Conference & Expo in Anaheim, November 11 – 14
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