The red line on the chart above shows the number of homes that were listed for sale through the Regional Multiple Listing Service (MLS) each week since the beginning of the year.  The blue line shows how many homes had offers made on them that were accepted by the sellers during the same week.  Homes with offers on them are called pending sales and  are  used as a metric to measure the health of the real estate market.  Real estate is local and these numbers are for St. Paul Minnesota, but are pretty similar to the rest of the metro area, but probably not relevant to the real estate market in say California. real estate is local. National trends are important but what is happening in your own neighborhood may have a bigger impact.

Buyers are writing offers.  The market is becoming more balanced. In 2007 it seemed like everyone wanted to sell and no one wanted to buy and the inventory of homes on the market kept rising.  This year the inventory of homes for sale is much lower than in 2007 or 2008 and it continues to drop.  There are currently 1611 homes on the market, or about half as many as there were last August. At the same time almost twice as many homes sold in July of 2009 when compared with July of 2008.

Home prices seem to be stable. They are not going up but they are not going down either.  Homes will sell quickly if they are in good condition and priced correctly.  Buyers who wait a few months before making an offer on that special house discover that it is gone in a few weeks. Some of the homes are selling in a week or less and others are getting multiple offers.  There are still homes that have been on the market for a long time especially in the higher price ranges.

Fridays post was just for fun but it gave me the idea of sharing some more insider secrets and these secrets are about Realtor's.  First of all I have to say most of us are people, and we have a job but it is a different kind of job.  We don't get a paycheck or any money at all until we sell something or another way of looking at is we work on 100% commission and we don't make a dime until someone buys something.

That does keep us motivated to work but we do have limitations.  For example lets say you are just sitting around on a Sunday morning reading the paper.  All of a sudden at about 11:30 AM you decide it would be nice to see a house that is for sale.  You check the paper and the internet and there is no open house at that location that day.  So you use google to find a Realtor, you call him or her and say that you would like to see a house this afternoon.

The agent you just called already has appointments all afternoon.  His or her own clients come first as they should.   He or she could try to squeeze you in but if you are not serious about buying a home or have not met with a lender yet or already have an agent it just means extra work for the agent you called, and they do it for free.. . unless you buy the house which is pretty unlikely, since you don't even know if you can get a loan yet. 

People who are serious about buying a house should start by contacting a lender and then finding a Realtor.  I would interview a few and make sure they know the area and that they have some experience.  I would also try asking friends, neighbors, co-workers or family members who recently bought a home about their agent.

Most of us can't operate like the drive thru at a fast food restaurant and always be there to serve you when ever the need arises and even if we could it would be kind of expessive.

It may seem like an agent is lazy or not motivated if they won't run out and show you that house when you want to see it.  Most agents are not lazy, we work very hard and we do provide a lot of service for free.  When someone that I don't know calls to see one of my listings it is more of a priority than showing another agents listing to someone I don't know. My loyalties lie with the people that I have contracts with. 

We also understand that all you really want is to see the house and that how Realtor's do or do not work isn't part of the thought process.  Putting it into the though process ahead of time will make the whole experience go more smoothly because like I said most of us are human . . . even me. . . I think . .

by Erik Hare

Locally owned independent businesses always have a tough time.  They have to build their reputation one customer at a time, borrowing and scraping to get what they need to make their dreams a reality.  What they have to put up against the long odds is their own determination and hard work, dedication and cunning.  But by banding together they can get the word out and acquire the skills they need to make it all work.  That’s what the MetroIBA is all about.

The MetroIBA is an alliance of these small businesses who share the common vision of entrepreneurship and opportunity.  It’s valuable because study after study shows that money spent in locally owned independent stores, restaurants and service providers return 68 cents to the community on average, versus 43 cents that stays local in a national chain.  That difference is what it takes for a community to be more self-sufficient and master its own destiny.  These are important values in Saint Paul and across the metropolitan Twin Cities region.

The value of sticking together is obvious.  A small store like Cooks of Crocus Hill (pictured) has a unique ability to respond quickly to the needs of its customers, carving out a niche based on service to of the products its customers tell it they need directly.  The difficulty they face is connecting to their customers for the first time to let them know what they have to offer.  As support for local stores builds into a movement, customers give places like this a try and soon become loyal fans.  There’s plenty of benefit for everyone, once they know about it.

Membership in the MetroIBA is only $125 and goes directly to their ongoing support for buying local.  Their members include some of the finest suppliers of goods and services in the Twin Cities.  Membership puts each of them at the center of a growing movement of entrepreneurs dedicated to making all our lives a little better while they make a business that thrives.

The MetroIBA is a great asset to Saint Paul, and the growing movement they are at the center of is a very important one for the continued success of our city.  Take a look at their membership roster and give them a try – the personal, friendly service you find at a locally owned independent business will have you hooked in no time.

The last phase of Harriet Island Regional park looks like it is complete. This photo was taken on the West end of the park. They did an amazing job with the structure and with the landscaping.  The plants won't really come in until next year, but it already looks wonderful.  There are plenty of picnic tables under those huge oak trees, walking paths and more benches. It looks like a quiet place in the park, and like the rest of the park there is a great view of the Mississippi River.

It is Friday and Fridays are for fun.  I am going to go out on a limb here today and share some insider secrets about the real estate industry on the internet. 

• About agent photos – It isn't unusual to meet an agent who is 40 years older than he or she appears to be in a profile photo.  Contrary to popular belief we don't use our high school year book photo, our jobs are so brutal that we age quickly.
• About property photos – There are exactly three good exterior property photos.  All three of them are used on agent web sites nation wide.   Minnesota agents are strongly encouraged to choose the photo without the palm trees and swimming pool but I have found some who use them anyway. It takes a special kind of person to have that kind of confidence.
• MLS Photos – All MLS photos are taken with the same camera. Any photo taken with that camera comes out bad.  Here in Minnesota we have a feature built into our MLS so that if a good photo does somehow makes it's way to the MLS it will be automatically enhanced to look like an MLS photo.  Maybe this is no secret but I will bet you didn't know that we stole the technology from the DMV and they want it back.  
• Testimonials – Have you ever seen the glowing testimonials on agent web sites?   Sadly there is one set of testimonials that all agents use.  They are free on the internet and we are encouraged to change the names of the make believe clients that were so happy with the job we did.   We are also strongly encouraged to change the name of the agent in the testimonial but some agents don't take the time.
• Agent web sites - Real estate agent web sites are among the ugliest sites on the internet. The technology used to make these sites is such a closely guarded secret that they won't even share it with me. If you use the internet often you will notice that no one outside of the real estate industry has been able to replicate the real estate web site. 

I was going to add the secrets about what an agent really does in your home during an open house but that is going a bit too far.

Have a great weekend. Lets hope that the tornadoes and monsoons are over for now.

If you are walking down and see some writing on the sidewalk it might not be vandalism.  It could be part of the Everyday Poems for City Sidewalks,  created by Saint Paul’s Public Artist in Residence, Marcus Young and friends, Saint Paul Public Works, and Public Art Saint Paul.

The program works in conjunction with the department of public works as they replace or repair sidewalks. I found this near Indian Mounds Park on Cherry street near Mounds Blvd. and Google helped me find the rest of the information about it . . which really isn't much but there is some and a map of where the poetry can be found around town.  An interesting idea and probably hard to read during the Winter but kind of fun during the summer.