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 ).

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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).

###

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

Greg Bauman, President of the Saint Paul Area Association of REALTORS®, stated we “Continue to see signs of a stabilizing market."

For Immediate Release
April 10, 2008
Contact:
Patrick Ruble
Saint Paul Area Association of REALTORS®
651.772.6343
pruble@spaar.com


Signs of a spring market

Proportionally speaking the current housing sales activity appears to be sizing up as a typical spring market. There were no significant surprises for the first quarter although sales continue to lag behind prior years.

Pending sales, a leading indicator of future closed home sales, moved strongly forward from February to March increasing 17.65 percent for the month. There were 3,087 pending sales reported last month compared to 3,632 pending sales reported in March 08. However, pending sales continue to fall behind previous year’s levels, down 14.62 percent from March 07. Last year there were 4,254 pending sales reported for the month.

At the end of March 08 there were 30,745 active listings of existing, single-family residential properties reported for the 13-county metro area in the Regional Multiple Listing Service of Minnesota’s (RMLS) system, while compared to 30,470 one year ago. This slowing pace of new listings has significantly contributed to a move toward stabilization of housing sales in the Twin Cities. It will still take some time to work through the inventory toward a balanced market.

The Months Supply of Inventory (MSI), the amount of time it would take to sell through the current number of listed properties, continues to move downward, a good sign, from approximately 12.3 in January, 10.6 in February to 9 months in March. Average days on market for sold listings continue to hold steady at 89 days in March compared to 88 days in February.

New listings for the first Quarter of 08 totaled 25,097 compared to 27,503 one year ago, a decline of 8.57 percent. March 08 new listings trailed 16.97 percent from one year ago. During the month of March 08 there were 8,523 new listings added to the inventory compared to 10,265 one year ago.

The median price of a closed home for the 13 county metro area during March 08 rose 2.53 percent to $200,000 from the $195,060 reported in February 08. The median price for closed home sales remains down 9.69 percent compared to March 07 in the 13 county metro.

Greg Bauman, President of the Saint Paul Area Association of REALTORS®, stated we “Continue to see signs of a stabilizing market. March looked very similar to February with the exception of the median price having a small increase over last month. Buyers appear to be coming back into the market despite one of the snowiest March's in recent years.”

Housing statistics include existing single-family homes, condominiums and townhouses. Statistics are provided by the Saint Paul Area Association 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 ).

###

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

Editorial: For sale: Signs of hope for real estate

Editorial: For sale: Signs of hope for real estate
It's a buyer's market if you're in it for the long haul.


Realtor Greg Bauman started worrying about the health of the Twin Cities real estate market when prospective buyers began calling him from California to bid on homes based solely on Internet listings.

It seemed odd to Bauman that buyers would skip the step of actually visiting the properties. The phenomenon was yet another sign that speculation in residential real estate was out of control. Although bad-news headlines have been the norm ever since -- and no one can predict when we'll reach the bottom of the housing cycle -- this is no time to panic.

For existing homeowners, this week's news that the median sale price dropped 12.5 percent in February to $195,060 was sobering, especially versus a median of $225,000 in 2006. Back when those California cyber speculators were calling Bauman, homeowners and potential buyers were riding a wave of median increases of 8 or 9 percent a year.

But a drop in the median is not all bad news. Bauman, who serves as president of the St. Paul Area Association of Realtors, points out that the big February dip signaled a purging of lower-priced properties, including bank-owned houses. Sales of homes priced below $150,000, including some that had been foreclosed upon, was a key factor. The purge is a necessary part of the market cleansing now taking place throughout the Twin Cities.

The upside to falling prices is that some buyers who were priced out of the market during the frenzy of speculation will now be able to find larger, affordable homes as prices fall. Many of those will be first-time buyers who will benefit from newly increased FHA loan limits and low interest rates.

As the Realtors will tell you, it's a good time to be a buyer.

Signs of Improvement in the Local Housing Market

FOR IMMEDIATE RELEASE

Contact: Patrick Ruble
Saint Paul Area Association of REALTORS®
Phone: (651) 772-6343
E-Mail: pruble@spaar.com

Wednesday, March 12, 2008

Signs of Improvement in the Local Housing Market
Gregory Bauman, Realty Executives and President of the Saint Paul Area Association of REALTORS® stated today.

Saint Paul, MN-
Consumers and REALTORS® agree that, in the past two months, there has been an increase in foot traffic through open houses and a stronger interest in showings of “for sale” properties in the 13-county Twin Cities metro area. REALTOR® offices in the east metro have reported February showings up more than 10 percent over the previous month. March showings have come on even stronger.

“The interest of home buyers to make that purchase decision has ramped up this past month,” Gregory Bauman, Broker Owner Realty Executives and president of the Saint Paul Area Association of REALTORS® stated today. He went on to say, “We are beginning to see positive signs that the credit crisis is being addressed at the federal level and this will translate into more confidence at the local level where the transactions take place.”

While this heightened level of activity has not resulted in stronger closed home sales for January and February, there are some positive indicators that bode well for the future of existing, residential real estate sales: pending sales, inventory and affordability.

Pending sales, a leading indicator of future closed home sales, moved strongly forward from January to February increasing 20.49 percent for the month. There were 3,087 pending sales reported in February compared to 2,562 in January. That is the third highest percentage increase of pending sales from January to February in the past eight years. That rate was exceeded in 04 (21.02 percent) and 05 (33.9 percent).

At the end of February there were 29,667 active listings reported for the 13-county metro area in the Regional Multiple Listing Service of Minnesota’s (RMLS) system. That is a 5.0 percent increase from February 07 when 28,256 active listings were reported. The significance of the current level of inventory is the rate at which new inventory has been added to the system.

The rate of new listings added to the inventory during the first two months of 08 has slowed significantly compared to 07 and 06 when the market began to show serious signs of deterioration. From January 08 to March 08 the level of inventory increased by 12.29 percent, a reasonable number as the traditional selling season kicked off. During the same three month period of 06 the level of inventory increased by 22.71 percent while in 07 the increase was reported at 16.38 percent. The Months Supply of Inventory (MSI), the amount of time it would take to sell through the current number of listed properties, is 10.2 months. That’s a drop from the 12.1 MSI reported in January 08.

“The current state of the real estate market is truly an opportunity for first-time home buyers and those looking to purchase more house for their money,” stated Gregory Bauman, Broker Owner Realty Executives and President of the Saint Paul Area Association of RELATORS®. Bauman added, “It will take good credit and, if you are selling, the willingness to negotiate a reasonable selling price to achieve your homeownership goals today. Residential real estate is where we raise families and become part of a larger community. It remains a stable investment if handled responsibly.”

Prolonged pressure from the high level of inventory, lack of buyer activity, credit concerns and the negative economic information continued to weigh down the median sales price of homes in the metro area. The median price of a closed home sale for the 13-county metro area was $195,060, a decrease of 12.53 percent from one year ago. As the median price drops and single-family residential properties become more affordable to consumers the level of sales activity should begin to increase substantially. There were 2,009 recorded closed home sales in the 13-county metro area.

Housing statistics include existing single-family homes, condominiums and townhouses. Statistics are provided by the Saint Paul Area Association 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 Gregory Bauman, Realty Executives at 612-760-9393(gregbauman@realtyexecutives.com).

NEW REALTY EXECUTIVES OFFICE OPENS IN Wayzata

FOR IMMEDIATE RELEASE

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

Thursday, March 06, 2008


NEW REALTY EXECUTIVES OFFICE OPENS IN Wayzata
New real estate franchise arrives in local area

Wayzata, Minnesota (Grassroots Newswire) 03-06-2008 -- A new Realty Executives office has opened at 810 Lake Street East Suite 270 in Wayzata, the 70th Realty Executives office in the Midwest.

Barry Cavalancia has owned and operated Realty Executives brokerages in Plymouth, Saint Paul, Edina, Minneapolis Uptown since May, 2004.

The Wayzata office is in Crosscreek, a retail center in downtown Wayzata. They have leased space for the next 5 years at this location. The Address is 810 Lake Street East Suite 270, Wayzata, MN 55391. Cavalancia says "Downtown Wayzata has a small town feel with big city living". Along Lake Street in Wayzata is 4 other real estate offices- CBB, Edina, Keller Williams, and RE/Max with over 800 agents who will see our sign daily. We are located on the lakeshore side of the street and plan this spring to staff the shopping rotunda with an Executive to attract lakeshore buyers who we will give lakeshore tours from the lake. "We are excited” comments Barry.

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 on Realty Executives Associates, please contact Barry Cavalancia at 612-990-6375. Or visit www.RealtyExecutivesMidwest.com.

About Realty Executives International
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.