Saturday, November 18, 2017

Bald Eagle #17-2469 Release Scheduled

Bald Eagle #17-2469 has been flying very well during the past two weeks in flight pen A3. On November 16, the veterinary team drew blood for a pre-release analysis; results were within normal limits.

from Wildlife Center of Virginia RSS

Thursday, November 16, 2017

2017 REALTOR Heart of the Community Award

MAAR shines a light on a few of our members who have dedicated their time, talents and energy to serve in a volunteer leadership capacity in our communities. These REALTORS are change agents. They recognized a critical need in our community and took action to address those needs. Some of these members have established are nonprofit organizations while others have committed countless volunteer hours to lend a hand to help shape a local program. These REALTORS understand the value of community and service. MAAR applauds their efforts and will make a $500 to the organization they serve as a volunteer on their behalf.
  • • Jacqueline Erikson, Bridge Realty;  Hacienda La Paz Inc
  • • Rich Kelley, Edina Realty; Quetico Foundation-US
  • • Whitney Kieffer, Keller Williams Realty Integrity Lakes; Ready for Success
  • • Kevin Knudsen, Coldwell Banker Burnet; The Leukemia & Lymphoma Society, Minnesota Chapter 
  • • Gregory Kuhl, Edina Realty; In Love, Word & Deed 
  • • Jennifer Olstad, Keller Williams Classic Realty NW; Harold Mezile North Community YMCA      

from Blog – Minneapolis Area Association of Realtors

Wednesday, November 15, 2017

Market flat in preparation for winter

Minneapolis, Minnesota (November 15, 2017) – The Twin Cities housing market is holding steady after both sales and prices reached record highs this year. In October, new listings were up 3.1 percent compared to last October but are on-track for a 2.0 percent decline for the year. Pending sales rose 3.9 percent for the month but will likely be flat compared to all of 2016. Closed sales eked out a 0.3 percent October gain but are also likely to be flat for the year. The number of homes for sale decreased 18.0 percent to 11,221. Absorption rates contracted as well.

Given strong demand and low supply, prices held their ground and marched higher. The median sales price rose 6.1 percent from last October to $244,000. This price metric will likely show a 6.5 percent annual increase. Home prices have now risen for the last 68 consecutive months or over 5.5 years. At 52 days on average compared to 61 last October, homes went under contract 14.8 percent faster. Sellers who list their properties are averaging 97.7 percent of their original list price, 0.8 percent higher than October 2016. The metro area has just 2.2 months of housing supply. Generally, five to six months of supply is considered a balanced market where neither buyers nor sellers have a clear advantage.

“We’re still very much on-track with last year’s sales levels,” said Cotty Lowry, Minneapolis Area Association of REALTORS® (MAAR) President. “At this point in the year, we begin to look toward annual numbers that are less susceptible to weather and other variables. With only two months to go, we are running just about 70 sales shy of last year’s levels. That’s quite impressive given our dramatic supply shortage.”

Headline figures can often mask important details and specifics of which buyers and seller should be aware. For example, year-to-date, closed sales only fell for homes under $250,000. Sales activity increased for homes priced between $250,000 and $500,000, $500,000 and $1,000,000 and for properties over $1,000,000. Market times and the ratio of sales price to list price both improved for each of the above four price ranges. Traditional market activity continues to eclipse distressed activity.

The economy and political climate affect housing. The national unemployment rate is 4.1 percent, though it’s 2.9 percent locally—the third lowest unemployment rate of any major metro area. A thriving and diverse economy has been conducive to housing recovery, as job and wage growth are key to new household formations and housing demand. The Minneapolis–St. Paul region has a resilient economy with a global reach, a talented workforce, top-notch schools, exposure to the growing technology and healthcare fields, and a quality of life that’s enabled one of the highest homeownership rates in the country.

The average 30-year fixed mortgage rate has declined from 4.3 percent to 3.9 percent recently, still well below its long-term average of around 8.0 percent. One additional rate hike may be in the cards this year, but the Fed is focused on unwinding its large portfolio. Additional inventory is still needed in order to offset declining affordability brought on by higher prices and interest rates.

“Keep a close eye on some of the tax reform proposals meandering through Congress,” said Kath Hammerseng, MAAR President-Elect. “Unfortunately, some of the key proposals directly harm the middle class and disincentivize homeownership while adding trillions to the debt.”

Questions? Contact David Arbit, MAAR’s Director of Research + Economics |

from Blog – Minneapolis Area Association of Realtors

Tuesday, November 14, 2017

Wildlife Care Academy Spring 2018 Schedule

The Wildlife Care Academy is pleased to announce the Spring 2018 class schedule!

from Wildlife Center of Virginia RSS

Bald Eagles update

The two Bald Eagles in flight pen A3 continue with their daily exercise; eagle #17-1993 has been struggling with lift and stamina during exercise sessions and is only flying between 5-10 passes each time. Bald Eagle #17-2469 is flying well and is flying at least 15 passes during each session. 

from Wildlife Center of Virginia RSS

Unlock the Value of REITs: Deloitte 2018 CRE Outlook

from The Commercial Real Estate Show - Sponsored by Bull Realty

The Home Payment Report – Q4

The “MGIC/MAAR Home Payment Report” is a quarterly overview of typical monthly payments on homes recently sold in the Twin Cities’ 50 most active real estate markets. Agents can download the report and forward it to prospects or include it in their own marketing pieces.

The report is produced through a partnership between MAAR and MGIC Corporation, one of the country’s leading private mortgage insurers. It combines home sale prices, property tax rates and interest rate data to give consumers a good feel for what their monthly home payment would be on lower-priced, mid-priced and higher-priced homes in 50 markets ranging from Andover to Woodbury.

“Educating consumers on housing affordability and the costs and benefits of owning versus renting is key to sound decision-making,” says David Arbit, MAAR director of research & economics. “We’re delighted to be working with MGIC to bring this useful new quarterly report to our members and the public.”


from Blog – Minneapolis Area Association of Realtors