Minnesota Home Appreciation Slows Considerably in 2005

Many homeowners follow national statistics when trying to calculate appreciation rates from one year to the next. A report released by the Office of Federal Housing Enterprise Oversight (OFHEO) on March 1st won't make your job any easier.

Average U.S. home prices increased 12.95 percent from the fourth quarter of 2004 through the fourth quarter of 2005. The figures released by OFHEO are part of the House Price Index (HPI) a quarterly report analyzing appreciation trends.

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FREE Garden Minnesota Yearbooks Available to Members

According to Smart Money magazine, one of the best methods to increase a home's resale value is found outside of the house. Adding trees, shrubs, flowers, patios, retaining walls, fountains, and paths to your yard can increase the home's value by up to 15 percent!

The Minnesota Association of REALTORS® (MNAR) and the Minnesota Nursery and Landscape Association (MNLA) have partnered to offer you a unique and FREE tool to help your clients/customers obtain better prices while also enjoying the outdoors.

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Minnesota Immigration Remains Strong

A report issued by the Department of Homeland Security: Immigration and Naturalization Service shows that Minnesota is one of the nations leading locations for immigrant populations.

In 2004, 11,708 people relocated from a foreign country to the state. A majority of new residents came from Africa, a significant shift over the trend of the past 20 years when Asian countries had the most immigrants to Minnesota.

The Minnesota REALTORS® are active in helping to define the best ways for immigrant populations to enter homeownership. Through work on the Emerging Markets Homeownership Initiative (EMHI), Minnesota REALTOR® staff is helping to design pilot projects that will assist members in delivering homeownership opportunities to these new markets.

Twin Cities Home Ownership Organization Invites Minnesota REALTORS® to participate in:

2nd Annual Home Ownership Fair

What: An event intended to familiarize people in emerging markets with components of the home buying process and resources available to them. The target audience for the event is first time buyers, with a special focus on emerging markets such as new Americans and communities of color.

When: Saturday, June 10, 2006, from 1:00 to 5:00 p.m.

Where: Minneapolis Convention Center

Visit www.homeownershipfair.org to get involved as a sponsor or volunteer.

For more information, contact Kristi Shepherd, Event Producer, 952-920-5875 or kristishepherd@mn.rr.com

To Call or Not To Call?

With business activity moving back to the future, more and more agents are calling asking for information about cold calling and the federal/state regulations known as "Do-Not-Call."

To assist members with the explanation of the bills, we have posted information from NAR, FCC, Minnesota law and a quick overview by Minnesota REALTOR® Vice President Susan Dioury on the Minnesota REALTORS® web site under - Laws and Regulations.

A Guide to Residential Real Property Arbitration.

From time to time we receive calls asking for an explanation about the CAS Real Property Arbitration program. A simple and easy to read guide is available for your downloading pleasure at www.mnrealtor.com under - Publications - MNAR brochures.

In it you and your client will find information about filing a claim, how arbitrations work compared to court disputes, filing timelines, how awards are determined, who can use the program, what evidence is allowed and a host of other items. It is a must read for members discussing the program with clients.