Home sales in the Twin Cities housing market continue to post healthy increases over last year, though the upward movement isn’t as powerful as it was during September. For the week ending October 18, there were 618 signed purchase agreements (pending sales)—an increase of 9.6 percent over the same week last year and the 16th consecutive week of year-over-year upward movement. Foreclosures and short sales continue to comprise a sizable chunk of the market.
New listings for the same time period comparison were 18.1 percent lower, which represents the 30th week of the last 33 to have downward movement in new listing supply. The total inventory of homes for sale sits at 30,343, which is about 3,000 less than at this same time in 2007. Inventory should continue to fall through the remainder of the year but won’t fall as far as previous years given the higher number of foreclosures and short sales, which tend to stay on the market irregardless of snow depth and subzero temperatures.
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Money talk is all the rage at the water cooler, at the cocktail party, at the dinner table, on the Internet, on the TV, at the…you get it. To keep up with the Joneses, Greenspans, Bernakes, Paulsons, and Buffetts, we’re alerting you to a couple of found money objects on the web.
The first one is from NPR. The blog itself exists in nice, bite-sized bits, but “The Giant Pool of Money” we first noticed is pretty long (50+ minutes in 2 parts). Sure, it’s long, but it’s also pretty good. Maybe play it in the background while you’re balancing your personal budget. If an hour is just too much to think about, the “short” highlight version is 12 minutes long.
The second one skews more local. Check out Ka-Blog!, the blog of Star Tribune finance writer, Kara McGuire. It’s a great little local golumn (blog-column) that will draw you back frequently for an informed (and sometimes quirky) look at money matters on the home front and beyond.
Storefront photo by Robert Smith/NPR; crumpled money photo by Sarah.
Source: NPR, Star Tribune
NAR Sustainable Property Designation
NAR has created a true cross-over designation–one that provides an in-depth understanding of “what green means” for every aspect of real estate: residential, commercial, property management.
Access new markets, build your customer base, and be a positive force for change in your community! This designation addresses the concerns of consumers that are seeking real green expertise, not just lip service. You can be the one they come to for answers. As a real estate professional, you can have a real and lasting impact. Get the designation that will help you make it happen. more
Source: National Association of REALTORS®
If you know of any green opportunities worth talking about, contact Greg Sax at gregs@mplsrealtor.com, and tell him all about it.
CREDIT: It’s A Buyers Market – Is Your Credit Ready?
The Emerging Markets Homeownership Initiative and sponsor organizations are hosting an informational session on credit. The purpose of the event is to educate industry professionals and consumers on the importance of credit, create credit savvy consumers and correct credit misconceptions. Industry professionals will receive updates to current mortgage programs and resources for their borrowers who are struggling with credit issues.
Date: Thursday, October 30
Time: 3:00 p.m. to 8:00 p.m.
Location: Brooklyn Park Community Center
Address: 5600 85th Ave N, Brooklyn Park, MN 55443
Event Introduction | Event Flyer | Vendor Application
Source: National Association of REALTORS®
