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PRICING STRONG, BUT SHORTAGE CONTINUES TO HOLD BACK MARKET ACTIVITY
While June 2017 marked an all-time home sales record for the Twin Cities, closed sales retreated slightly in July compared to 2016. A slow-down in sellers listing their homes was a contributing factor, as was low inventory. New listings decreased 3.9 percent from last year to 7,227, and the number of homes for sale decreased 18.3 percent to 12,407. That was the largest inventory decline in five months. Pending sales declined 1.2 percent to 5,661, and closed sales were down 2.6 percent to 6,020. Factoring out foreclosures and short sales, traditional pending sales increased 0.7 percent to 5,484. | MORE
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THE BRIGHT INNER RING ECLIPSES THE REST
While many–though not all–cities around the metro have seen all-time high median sales prices, the first and second-ring suburbs near Minneapolis and major job centers stand out. Check out the median home price for these Minneapolis suburbs. | MORE
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WEEKLY MARKET ACTIVITY REPORT
"The prevailing trends have continued to prevail through the summer, which has not really been a surprise. There have not been any jolting changes in the economy that would affect residential real estate. This includes steady news for factors such as wage growth, unemployment, new construction and mortgage rates. Every locality has its unique challenges, but housing as a whole is performing as expected." | MORE
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MAAR is the Presenting Sponsor of Minneapolis Regional Chamber of Commerce Mayoral Election 2017 events. Hear 3rd and 7th Ward candidate positions and perspectives on pressing issues, current and proposed policies, as well as the future of the city. These events are free and REALTORS® engagement is highly encouraged! (Registration is separate for these events)
- Minneapolis City Council Candidate Forum Ward 3, September 6, 2017 2:30-3:30p.m. at Crowne Plaza Northstar Hotel Register Free HERE
- Minneapolis City Council Candidate Forum Ward 7, September 6, 2017 4:00-5:30p.m. at Crowne Plaza Northstar Hotel Register Free HERE
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The Saint Paul Area Association of REALTORS®, MN REALTORS®, Minneapolis Area Association of REALTORS®, and Housing First Minnesota are coming together to host the largest gathering of housing industry professionals in the state!
If you work in the housing industry, we invite you to join us for Housing Day at the Minnesota State Fair, on Monday, August 28. Bring your friends, family, and colleagues and represent your industry in front of thousands of fair-goers at the "Great Minnesota Get Together." Your local and state associations will have fun activities and a few surprises planned for you to add to your state fair experience. Activities and special events will be taking place between 10am and 3pm at the Horton Pavilions at Heffron Park.
Join us for Housing Day at the Fair on August 28! Bring friends, family and colleagues, and represent your industry in front of thousands at the "Great Minnesota Get Together." All attendees will receive a FREE T-shirt to wear at the event. SHARE THIS POST from our Facebook page for your chance to win 2 free Fair admission tickets and register HERE. Every Friday we'll give away 2 sets of 2 tix.
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Register to let us know you'll be there - all attendees will receive a FREE t-shirt to wear at the event.
**** Your registration DOES NOT include entrance into the fair. ****
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This event was made possible in part by the following sponsors:
Presenting Sponsor
Liberty Title
Exhibiting Sponsor
GlideCam Property Tours
Supporting Sponsor
Wells Fargo Home Mortgage
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MAAR YPN 9-HOLE GOLF SCRAMBLE
Tuesday, August 29 (11:00 a.m. - 4:00 p.m.)
MAAR YPN 9-Hole Golf Scramble| INFO
The Minneapolis Area Association of REALTORS® YPN present the 3rd Annual YPN 9-Hole Golf Scramble. Join us on August 29th from 11:00am to 4:00pm at Theodore Wirth Golf Course for a day of fun, networking and laughs. We'll kick off our event with a small welcome luncheon, then 9-holes of golf, and wrap it up with a small awards / networking / mingle.
Golf cart, lunch, 9-holes of golf and the after game networking event are all-inclusive for just $35.00.
New and experienced golfers are welcome! RSVP early for this event as space is limited.
TECH BYTE
Wednesday, October 18, 2017 (8:00 AM to 4:00 PM)
6 CE Credits for $49 (over $130 value)
Consumers are finding new ways to obtain real estate information online, which can be detrimental if it’s not accurate, and may change how they see the value of a REALTOR®. It also puts consumers at risk for cyber security issues. Technology has also changed what consumers are looking for in a home. At Tech Byte 2017, you will learn how to protect yourself and consumers from inaccurate information online and potential cyber scams, and understand the smart home technology demand.
6 CE Credits for $49 (over $130 value) – The courses offered at Tech Byte are approved by the MN Commissioner of Commerce for a total of 6 hours of Real Estate Continuing Education.
Limited seats, folks. Registration is now open.
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UPCOMING CLASSES/EVENTS AT MAAR
TUESDAY MORNING'S AT MAAR
Tuesday, September 5 (10:00 a.m. - 11:00 a.m.)
Tuesday Morning's at MAAR | INFO
Details for these events are still to be determined.
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MN State Forms Changes Took Effect August 1
MN REALTORS® made changes to their existing forms, including an overhaul of all Residential Purchase Agreement forms. These changes went into effect August 1 and are available on Instanet Forms. Take a look at this article from MAR for more information and a list of all the form changes that occurred. Contact the Minnesota Association of REALTORS at info@mnrealtor.com if you have questions.
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Understanding the New Forms Update Classes 2017/18 - NON CE
Tuesday, August 22, 2017 (1:30 PM to 3:30 PM)
Thursday, August 24, 2017 (9:00 AM to 11:00 AM)
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Every year there are form changes implemented to improve real estate transactions. This 2 hour session will cover the revisions made to Forms used in real estate that went into effect August 1, 2017. Come prepared to learn and with questions about the changes.
This course does not include continuing education credit.
Cost: $13 for Members/$23 for Non-Members.
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The Skinny
"How long can the residential Real Estate market go on like this..." | MORE
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Last Day to Apply!
MAAR is now accepting NAR & MNAR Appointee applications. If you’re interested in representing MAAR at the state or national level, please complete the NAR & MNAR BOD Appointment Application by Monday, August 21, 2017. In addition, if you know of other potential leaders that might be interested, please pass it on.
Also, the election is open for MAAR Board of Directors. Please vote and remind your colleagues to vote.
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