Pending Homes Sales Up for the 3rd month in a row….Market beginning to turn around?

The month of April was very kind to the real estate industry. We saw the largest monthly jump in sales contracts signed in 7 & ½ years. So is the housing market slump “bottoming out?”

Analysts predict that the market should start to turn by the end of the year, but new incentives, such as the $8,000 tax credit for first-time homebuyers and record low mortgage rates, have fueled investors to buy sooner rather than later. Housing affordability is at one of the highest points in history and agents are in the middle of their busiest time of the year.

Our Region is seeing one of the best Pending Home Sales Index increases in the country with a rise of 9.8 percent, an 11.1 percent increase from one year ago. With numerous buyer assistance programs available to the public, we are finally seeing light at the end of the tunnel.

Joseph LaManna
Regional Developer
Realty Executives Midwest

Bumpy Road Ahead, But Light at the End of the Tunnel

The United States has seen one of the worst recessions since the end of World War II. Rises in unemployment, increasing foreclosures, and the current credit crisis have brought about a lack of consumer confidence, which is only making the economic situation worse.

What must we do to help jump start the economy?

Even though there is no shortage in negative effects the economy has placed on the housing market conditions, it has brought new opportunities for those who may not have been able to afford to invest in real estate a few years ago.

• Home prices have dropped all over the country, allowing many to become first time homeowners.
  – Lower prices help to stimulate buyer demand, which is sorely needed to deal with the excess inventory available all over the country.


• Mortgage Rates are the lowest they have been in years.


• Tax credits for first time home buyers are bringing new life to the housing market.
  
• Net rental income matches or exceeds the costs of property ownership in the majority of US markets, bringing many opportunities for investors to receive a respectable ROI.
  – With analysts predicting the market downturn to hit bottom by the years end, available properties will be very appealing to potential investors.

The stabilization of the housing market is key to improving the nation’s economy. In Minnesota alone, the real estate industry accounted for over 15.8% of the Gross State Product in 2007. When a home is sold in Minnesota, It generates economic multiplier impact. There is greater spending at restaurants, sports games, and charity events. The size of this “multiplier” effect is estimated to be $12,240. (Bureau of Economic Analysis; Macroeconomic Advisors, NAR)

Just remember:

If you owned real estate for the last 18 months, or even the last 10 years, you’re probably still better off than having invested in the stock market.

Real Estate has always been a long term investment with major booms and busts. In the face of this uphill battle, we must persevere and work together to prevent further damage to our economy.

“It’s our patriotic duty to invest in home ownership, because it’s going to make that road a lot shorter.”

Joseph N. LaManna

Realty Executives North Plains - Jim McCreary

FOR IMMEDIATE RELEASE
Contact:
Linda Tschida
Director of Marketing, PR & Mass Communications
Realty Executives Midwest Region
Phone: (651) 994-2605
E-Mail: LindaTschida@RealtyExecutives.com

REALTY EXECUTIVES NORTH PLAINS BROKER RECEIVES PRESTIGIOUS AWARD

Local Real Estate Broker is Recognized for his Achievement

Fargo, ND (Grassroots Newswire)- Jim McCreary, of Realty Executives North Plains, was honored as Broker/Owner of the Year on January 17th at Realty Executives Midwest Annual Holiday Gala. The award is presented to one individual in the Midwest Region of Minnesota, North Dakota, South Dakota and Wisconsin. McCreary was selected by the Realty Executives Regional Office because he is a proven company leader who is not only dedicated to each and every client that he works with, but also to the strong organization that Realty Executives North Plains has built in Fargo.

Each of the Realty Executives Midwest offices also announced a new award that was presented to individual Executives at the Holiday Gala. The Most Valuable Executive Award was presented to an individual who didn't necessarily have the best sales for 2208, but the person who exemplified all of the characteristics that separates Executives from agents. Great Plains believed that not one person could be chosen over another, so their award went to all of the owners of Realty Executives Great Plains. "We have an awesome group of Executives and It's been my pleasure being their Broker," McCreary stated.

McCreary has lived in the Fargo-Moorhead area for more than 35 years. His ability to focus on individual needs, his professionalism and honesty has helped him to place over 50 families annually in their dream homes while running a successful real estate brokerage. McCreary is a dedicated, experienced Realtor with many accreditations to his background. His level of expertise has brought Realty Executives North Plains much success this past year, and will continue to do so in years to come. It is the experience, knowledge, and passion of the Realtors at North Plains and all Realty Executives offices that sets them apart from their competition.

2009 has begun on a positive note for the Realty Executives brand. Realty Executives International was named to Entrepreneur Magazine's Franchise 500 list for 2009. The company ranked at number 179 worldwide for 2009, making it only the fourth real estate franchisor to appear on this year's list. Sales associates, also known as "Executives," at Realty Executives average approximately 13 years of real estate experience, nearly twice the national average. They are industry leaders in production experience and professional designations, typically out producing traditional sales associates three to one, according to Rich Rector, president and CEO of Realty Executives International.

The team members of Realty Executives North Plains have a combined average of over 15 years of experience in the Real Estate business. With the changes in the real estate market and new advancements on the Internet, Realty Executives North Plains has the tools and the latest technological support to provide their clients with the best quality service available.

" Realty Executives was created for exceptional individuals. People with the character, leadership and sales skills it takes to reach the highest levels of success, and that is exactly what Jim and the Executives of Realty Executives North Plains portray," said Joseph La Manna, Regional Developer of Realty Executives Midwest.

For more information about Realty Executives North Plains, please contact Jim McCreary at (701) 499-5300.

About Realty Executives International

Realty Executives International, the nation's first 100-percent commission company, has been perfecting its business model for more than 42 years and is one of the fastest-growing real estate franchises in North America. The Phoenix-based, privately held company has more than 800 franchises in ten countries, including offices in the United States, Canada, South Africa, Mexico, Australia, Israel, Costa Rica, France, Greece and Indonesia. Publications like Entrepreneur, Success and Inc. magazines have all ranked Realty Executives International, Inc as a leader based on franchise growth, management stability and financial soundness. For additional company information, call 1-800-252-3366, or visit http://www.realtyexecutives.com/.

Menomonie Realty Executives Premier

FOR IMMEDIATE RELEASE
Contact: Linda Tschida
Director of Communications, Marketing & PR
Realty Executives Midwest
651-994-2605
LindaTschida@RealtyExecutives.com

NEW REALTY EXECUTIVES OFFICE OPENS IN MENOMONIE, WISCONSIN

New Real Estate Franchise Arrives in Local Area

Menomonie, WI (Grassroots Newswire) December 09, 2008 -- A new Realty Executives office has opened at 1120 North Broadway in Menomonie, the 2nd Realty Executives office in western Wisconsin. Jason Simonson and his wife, Stacey, have converted their former RE/MAX office to Realty Executives Premier and opened their doors for business November 18, 2008.

The Simonson's have been in the real estate business for a combined 12 years, with an additional 10 years in the lending field. Both natives of the area, Jason and Stacey have built a successful business in Menomonie and have been the area sales leaders for the past 4 years.

"There is more opportunity with Realty Executives than there was with RE/MAX," Simonson said, "I'm excited to show Executives the techniques and skills of successful real estate. I believe this is a good move for me and my family, as well as the families of all the Executives who come on board the Premier Team. "

Simonson plans to continue his successful real estate career with the Realty Executives brand, and has already recruited a new Executive to join the Premier Team. “We’re looking forward to 2008’s area sales leader being Realty Executives Premier,” Simonson stated.

For more information about Realty Executives Midwest please contact the Region at 651-405-1611 or toll free at 1-877-750-7744. Check out our website http://www.realtyexecutivesmidwest.com/

About Realty Executives International

Realty Executives International, the nation’s first 100-percent commission company, has been perfecting its business model for more than 42 years and is one of the fastest-growing real estate franchises in North America. The Phoenix-based, privately held company has more than 800 franchises in ten countries, including offices in the United States, Canada, South Africa, Mexico, Australia, Israel, Costa Rica, France, Greece and Indonesia. Publications like Entrepreneur, Success and Inc. magazines have all ranked Realty Executives International, Inc as a leader based on franchise growth, management stability and financial soundness. For additional company information, call 1-800-252-3366, or visit www.realtyexecutives.com.

Greg Bauman President of SPAAR - "Metro Housing Market Continues Recovery"

FOR IMMEDIATE RELEASE

Contact: Meg Chiodo
Saint Paul Area Association of REALTORS®
Phone: (651) 776-6000
E-Mail: mchiodo@spaar.com

Wednesday, June 11, 2008


Greg Bauman President of SPAAR - "Metro Housing Market Continues Recovery"
Moving Toward Balance

Saint Paul, MN (Grassroots Newswire) - Existing, single-family residential real estate pending sales during the month of May increased 5.0 percent from the previous month reported the Saint Paul Area Association of REALTORS® this morning. There were 4,418 reported pending sales during the month compared to 4,208 in April 08. However, that is a decline of 7.59 percent from the reported pending sales during the month of May 07.

At the end of May 08 there were 33,229 active single-family, residential listings in the 13-county metro area as reported by RMLS system. At the same time one year ago there were 35,236 active listings. That's a decline of 5.7 percent. The combined factors of higher pending sales and lower inventory has managed to lower the months-supply of inventory from 8.3 in April 08 to 7.9 by May 08. The months-supply of inventory peaked in December 07 at 14. The months-supply of inventory is a measure of the number of months it would take to sell the supply of inventory at the current pace of sales.

"This is a sign that the housing market in the Twin Cities continues to recover even with the challenging economic factors of high oil prices and instability in the markets," said Greg Bauman, Broker for Realty Executives and President of the Saint Paul Area Association of REALTORS®. "The market continues to perform as expected and we will see continued stabilization for the 2nd half of 2008 and on into the beginning of next year."

New listings added to the overall inventory of existing, single-family residential homes available for purchase continues to lag behind previous record-setting years. There were 9,436 new listings reported in May 08 compared to 11,261 reported for the same month in 07. That's a decline of 16.21 percent. When viewed from a "year-to-date" perspective, new listings are 11.04 percent behind the same five month period of 07.

Closed home sales continue to build, but at a slightly slower pace than previous years as buyers remain on the sidelines in anticipation of lower prices and a stronger economy. There were 3,720 closed home sales reported in the 13-county metro area during May 08. That's an increase of 18.96 percent from April 08 when there were 3,127 reported closed home sales. When compared to May 07 closed home sales there was a drop of 13.45 percent recorded.

The May 08 median sales price for the 13-county metro continued to show a decline from the previous year, but has held steady for the year. The median sales price reported for the 13-county metro was $205,000 in May 08 compared to $227,495 in May 07, a decline of 9.89 percent.

Housing statistics include existing single family homes, condominiums and townhomes. Statistics are provided by the Saint Paul Area Association of REALTORS® and are based on data supplied by the Regional Multiple Listing Service.

The Saint Paul Area Association of REALTORS® represents 4,000 members involved in all aspects of the real estate industry.

For more information about Twin Cities area home sales statistics, contact Patrick Ruble at 651-772-6343 ( pruble@spaar.com ) or Meg Chiodo at 651-772-6341 (mchiodo@spaar.com ).

###

Greg Bauman
Realty Executives
612-760-9393
GregBauman@RealtyExecutives.com

Photos available for this release:

Realty Executives

To view photos, go to www.enr-corp.com/pressroom and enter Release ID: 152426

NEW REALTY EXECUTIVES OFFICE OPENS IN “BLACK HILLS”

FOR IMMEDIATE RELEASE

Contact: Marissa Leon
Public Relations
Realty Executives International
Phone: (602) 957-0747
E-Mail: MarissaLeon@RealtyExecutives.com

Thursday, June 12, 2008


NEW REALTY EXECUTIVES OFFICE OPENS IN “BLACK HILLS”
New Real Estate Franchise Arrives In Hill City, South Dakota

Hill City, South Dakota (Grassroots Newswire) - A new Realty Executives office has opened at 296 Main Street in Hill City, the 71st Realty Executives office in the Midwest Region.

Doug Groves formerly with All American Realty Group of Hill City, is the Broker / Owner and will manage the new Hill City office.



Doug has owned and operated a Real Estate brokerage in the Black Hills since 2001.

Groves stated, "REALTY EXECUTIVES gives me the broker the tools to develop my existing staff and the tools to attract top agents in my area. During Franchise training we became more aware of our budget and how to create a win / win relationship with our EXECUTIVES "agents". The tools have been simply amazing. Our EXECUTIVES truly enjoy this plug and play company with nothing left to chance. I know we will become one of the top Real Estate companies in the area."



Realty Executives International, the Phoenix, Arizona-based parent company and franchisor, was the first 100-percent commission real estate company in North America, creating the new method of operating a real estate agency in 1965.

This concept attracts the most experienced, confident and hard-working agents, who are discovering the increased income potential of affiliation with an international company like Realty Executives, which has been perfecting the concept for more than 42 years.



For more information, please contact Doug Groves at 1-888-791-3223. Or visit www.RealtyExecutivesBlackHills.com

About Realty Executives International
Realty Executives International, the nation’s first 100-percent commission company, has been perfecting its business model for more than 42 years and is one of the fastest-growing real estate franchises in North America. The Phoenix-based, privately held company has more than 800 franchises in ten countries, including offices in the United States, Canada, South Africa, Mexico, Australia, Israel, Costa Rica, France, Greece and Indonesia. Publications like Entrepreneur, Success and Inc. magazines have all ranked Realty Executives International, Inc as a leader based on franchise growth, management stability and financial soundness. For additional company information, call 1-800-252-3366, or visit www.RealtyExecutives.com.

###


Photos available for this release:

Realty Executives
Black Hills Office


To view photos, go to www.enr-corp.com/pressroom and enter Release ID: 152482

“Minnesota seems to be recovering faster than the rest of the nation month to month on the whole”, stated Greg Bauman, President of the SPAAR

For Immediate Release
May 8, 2008
Contact:
Patrick Ruble or Meg Chiodo
Saint Paul Area Association of REALTORS®
651-776-6000
pruble@spaar.com
mchiodo@spaar.com


Encouraging Signs for the Twin Cities Metro

For the first time in 2008, the number of active listings (single family residential, including condos, townhomes and twinhomes) for the 13-county metro has dropped below previous months levels. In April the number of active listings was down 3.1 percent from one year ago. At the end of April in 2007 there were 33,374 active listings reported, while April end of month 08 active listings was reported at 32,325.

“Minnesota seems to be recovering faster than the rest of the nation month to month on the whole”, stated Greg Bauman, President of the Saint Paul Area Association of REALTORS®.

A positive sign that has been affecting the market’s balance is the relatively slow pace of new listings added to the RMLS system month-over-month compared to previous seasons. While the number of new listings added to the system in April 08 grew by 11.53 percent from March 08, the total new listings, for the year is down 9.52 percent compared to 07. Year-to-date new listings are 34,603 compared to 38,245 in the first four months of 07. Compared to April 07 when there were 10,742 new listings reported, the number of new listings in April 08 is down 11.51 percent with 9,506 reported.

Pending sales, while seemingly picking up steam, continues to lag behind previous years April numbers. There were 4,208 pending sales reported for the 13-county metro in April 08 compared to 4,507 during the same period in 07, a decline of 6.63 percent. However, the market appears to be working toward a rebound when compared to month-over-month views. There were 576 more pending sales reported in April 08 than March 08, an increase of 15.86 percent, a stronger percentage showing than the April over March numbers reported in 07. During that period the month-over-month increase was only 253 pending sales for a percentage increase of 5.95 percent.

Mr. Bauman also stated that “this trend looks to continue through the summer market. Buyers are coming back into the market because they can see the bottom and the opportunity is now.”

In the 13-county metro there were 3,127 closed home sales in April 08 compared to 3,440 reported one year ago, a decline of 9.1 percent. The spring selling season appears to be picking up some momentum from the sluggish winter months as there were 440 more closed home sales in April 08 than March 08, an increase of 16.38 percent. This is slightly better than the increase reported in March 07 over April 07 of 12.56percent.

The median sales price continues its struggle upward from a dismal 08 beginning when, in February the median price of a closed home sale dipped to $195,060. The April median sales price in the 13-county metro came in at $204,500, up 2.25 percent from March 08. The decline from April 07 however was 7.88 percent when the median sales price was reported at $222,000.

According to calculations the months’ supply of inventory also dropped in April to 8.1 with average days on market for sold properties at 85.

On a weekly basis the reported pending sales continue to show an upward trend with less erratic behavior than 2007. New listings added to the system, on a weekly basis, continue to trail last year’s numbers, as well.

Housing statistics include existing single family homes, condominiums and townhomes. Statistics are provided by the Saint Paul Area Association of REALTORS® and are based on data supplied by the Regional Multiple Listing Service.

The Saint Paul Area Association of REALTORS® represents 4,000 members involved in all aspects of the real estate industry.

For more information about Twin Cities area home sales statistics, contact Patrick Ruble at 651-772-6343 (pruble@spaar.com) or Meg Chiodo at 651-772-6341 mchiodo@spaar.com).

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B. Patrick Ruble
Government Affairs Director
Saint Paul Area Association of REALTORS®
651-772-6343
pruble@spaar.com