MRED Blog

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Pending Home Sales Reach Highest Mark In 9 Years!

Pending Home Sales Reach Highest Mark In 9 Years! | Keeping Current Matters

The National Association of Realtors (NAR) recently released their Pending Home Sales Index Report and revealed that it is at its highest level since April 2006.

The Pending Home Sales Index is “a forward-looking indicator based on contract signings”. The higher the Pending Home Sales Index number, the more contracts have been signed by buyers that will soon translate to sales.

Every region of the country has experienced year-over-year gains in pending sales as seen below:

Pending Home Sales by Region | Keeping Current MattersNAR’s Chief Economist, Lawrence Yun cites job creation as a major reason that the housing market has boomed this spring, going on to say,

“It’s very encouraging to now see a broad based recovery with all four major regions showing solid gains from a year ago and new home sales also coming alive.”

Yun went on to caution that,

“Housing affordability remains a pressing issue with home-price growth increasing around four times the pace of wages. Without meaningful gains in new and existing supply, there’s no question the goalpost will move further away for many renters wanting to become homeowners.”

So What Does This Mean To Buyers?

There is a lot of competition out there right now for your dream home. Prices are going to continue to climb, act now before you are priced out of your future home.

What Does This Mean to Sellers?

If you are on the fence about listing your home for sale right now and debating whether now is the time to move on with your plans of relocating… now is the time!

There are more buyers that are ready, willing and able to buy their first, second, third, vacation, or investment property now than there has been in years! The supply of homes for sale is not keeping up with the demand of these buyers.

Listing your home for sale now will give you the most exposure to buyers and the best sales price.

Bottom Line

Whether you are planning on buying or selling a house this year, waiting to act no longer makes sense.

Blog Post via KCM Blog

MRED Chicagoland Report for May, 2015

The U.S. economy has been pretty even so far this year. Usually when new figures are released, they paint a pretty picture worthy of putting above the fireplace in that purchased new home. Recently, some numbers for the first quarter were adjusted to show a slight contraction in the economy. The initial response from Wall Street was unfavorable, but the correction itself is truly a mere blip. Nobody is predicting that the market will take a sudden turn.

New Listings in Chicagoland were up 0.2 percent for detached homes and 6.6 percent for attached properties. Listings Under Contract increased 21.0 percent for detached homes and 19.9 percent for attached properties.

The Median Sales Price was up 8.3 percent to $222,000 for detached homes and 8.0 percent to $189,000 for attached properties. Months Supply of Inventory decreased 11.5 percent for detached units and 9.8 percent for attached units.

One interesting effect of a weaker-than-expected economy is that the Federal Reserve does not seem ready to raise short-term interest rates during summer, as some had suggested might happen. New projections indicate that rates will remain the same until September at the earliest. The dominant storylines in housing are decidedly not negative these days. Instead, you’re more likely to see top sales and luxury living highlighted than the woes of foreclosures and short sales.

MRED real estate professionals can log into MREDLLC.com and click on the Statistics tab to get the latest Lender Mediated and Monthly Market Indicators Reports. You can also click on the Local Market Updates choice under the Statistics tab and use our Interactive Market Analytics map for the latest local market metrics.

Any questions? Please contact MRED’s Help Desk at 630-955-2755 or help.desk@MREDLLC.com.

The Last Minute Rush to Register for MREDpalooza 2015

Thousands of Attendees Have Already Signed Up for Classes

MREDpalooza2015-4LISLE, ILLINOIS (June 15, 2015) – With just a week to go, the rush is on to register for MREDpalooza 2015, the real estate tech and training expo event of the year, taking place on Tuesday, June 23rd. The staff at Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), sees the event gaining tremendous momentum as it draws closer and closer.

“We could not be happier with the response to the next MREDpalooza,” said MRED President/Chief Executive Officer Rebecca Jensen. “With the lineup of exhibitors, product training options, and the size and nature of this event, we knew there would be major interest and participation. We are excited to have taken the lessons learned from the first event to make MREDpalooza 2015 even better.”

With class content including online marketing tools, building your business, and so much more, those professionals interested in being a big leaguer in the real estate industry will have the ultimate opportunity to do so. With drawings for over $10,000 in cash and prizes capping off the day, MREDpalooza is the perfect place to join with your peers, visit with the creators of real estate products and services, and get more in-depth insight into how they work. The rush is expected to last all the way until the doors open at 8:30 AM on Tuesday the 23rd at the Donald E. Stephens Convention Center in Rosemont.

“We’re not asking for anyone’s valuable time unless we are prepared to exceed their expectations,” added Jensen. “We hope all of our customers will make time to attend – it WILL be worth it.”

About MREDpalooza

MREDpalooza is one of the largest MLS tech expos in the country. Taking place Tuesday, June 23, 2015, from 9:00 a.m. to 4:00 p.m. at the Donald E. Stephens Convention Center in Rosemont, Illinois, MREDpalooza will be a great opportunity for MRED’s real estate professionals to learn about a myriad of real estate products and services to enhance their businesses.

MRED is planning for several thousand attendees and scores of vendors. Product training sessions will be offered throughout the day, providing more in-depth understanding of many of the products. Those wishing to attend MREDpalooza are asked to visit MREDpalooza.com for registration and sponsorship information. 

About MRED

Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 40,000 brokers and appraisers and 8,000 offices. MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin and northwest Indiana. MRED delivers over twenty products and services to its customers, complementing connectMLS™, the top-rated MLS system in the country for two years running according to the WAV Group MLS Technology Survey. MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for five consecutive years the MRED Help Desk has been identified as one of the best small business centers in the United States and Canada by BenchmarkPortal. For more information please visit MREDLLC.com.

MRED’s Help Desk Keeps Winning Streak Going

Chicagoland MLS is Recognized as Top Help Desk for Fifth Consecutive Year

LISLE, Ill., June 4, 2015 (GLOBE NEWSWIRE) — Midwest Real Estate Data (MRED), the Chicagoland multiple listing service (MLS), is pleased to announce that for the fifth consecutive year its Technical Help Desk has been recognized as one of the Top 25 Call Centers in the United States and Canada by BenchmarkPortal. MRED’s Help Desk has been identified as one of the best small business centers in the category of organizations having 5 to100 full-time call center personnel.

Since 1995, BenchmarkPortal has conducted annual statistical analyses of call center operations throughout the world. BenchmarkPortal hosts the world’s largest call center metrics database in conjunction with the Center for Customer Driven Quality located at Purdue Research Park, Purdue University. The BenchmarkPortal team of professionals has gained international recognition for its call center expertise and innovative approaches to Best Practices for the call center industry.

BenchmarkPortal compares the performance of contact centers throughout North America by evaluating their key metrics against industry peers, to objectively identify centers who are achieving superior results both in financial and qualitative terms.

MRED outperformed others in the Small Center Category in the following areas:

  • Top Caller Satisfaction
  • Average answering speed
  • Average Hold Time
  • Average Talk Time
  • Calls Transferred
  • Average Calls Abandoned
  • Average After-Call Work Time
  • Turnover of Full-time Agents

“MRED’s ranking in the Top 25 shows that it has achieved outstanding results when compared with centers from a wide variety of industries, which is a great accomplishment,” said Bruce Belfiore, CEO of BenchmarkPortal.  “We congratulate them and wish them continued success in the future.”

“Our Help Desk takes great pride in providing Exceptional customer service to MRED customers, and we work very hard at it each and every day,” said Stephanie Abrams, MRED Help Desk Manager.  “I’m extremely proud and grateful for the recognition our team has received from Benchmark Portal.  It is our absolute pleasure serving the needs of our customers and we are very excited to see them at MREDpalooza 2015!”

“I am gratified and very appreciative of MRED’s Help Desk and the great customer service it provides,” said Rebecca Jensen, MRED President/Chief Executive Officer.  “I could not be prouder of our Help Desk Manager and Technicians, who are on the front lines successfully serving all of our real estate professionals.  Top 25 again?  Awesome!”

About MRED

Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 40,000 brokers and appraisers and 8,000 offices.  MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin and northwest Indiana.  MRED delivers over twenty products and services to its customers, complementing connectMLS™, the top-rated MLS system in the country for two years running according to the WAV Group MLS Technology Survey.  MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for four consecutive years the MRED Help Desk has been identified as one of the best small business centers in the United States and Canada by BenchmarkPortal.  For more information please visit MREDLLC.com.

About BenchmarkPortal

BenchmarkPortal‘s activities began in 1995, and it is now a global leader in the contact center industry, providing benchmarking, certification, training, consulting and research. The BenchmarkPortal team of professionals has gained international recognition for its innovative approach to best practices for contact centers. BenchmarkPortal hosts the world’s largest database of contact center metrics, which is constantly being refreshed with new data. BenchmarkPortal’s mission is to provide contact center managers with the tools and information that will help them optimize their efficiency and effectiveness in their customer communications. For more information, please call 1-800-214-8929 or visit BenchmarkPortal.com.

MRED CEO Rebecca Jensen Named One of HousingWire’s Rising Stars

Congratulations to MRED CEO Rebecca Jensen for being named one of HousingWire’s Rising Stars of 2015

The mortgage industry faces tremendous challenges in the years ahead. The regulation that has squeezed so many in our space, combined with a still sluggish economy, means we need leaders who are innovative and proactive like never before. That’s why HousingWire is proud to recognize some of the brightest and most accomplished leaders under 40 with our Rising Stars program.

These 40 winners have developed groundbreaking new software, re-engineered entire systems and launched their own startups. They have seen dramatic growth in sales, in market share and in influence. Whether they started with a company right out of high school or were brought in for a specialty solution, their contributions have been outsized.

Read the full article

MRED Chicagoland Report for April, 2015

As we turn the page to the second quarter of 2015, a proliferation of new listings is expected in most markets across the U.S. Spring is traditionally the commonplace time of the year that we see some of the most desirable gems polished for eager buyers.  Though some Google searches and Twitter posts will blatantly offer pessimism about the state of the housing market, on-the-street evidence does not support bad tidings.

New Listings in Chicagoland were up 9.4 percent for detached homes and 5.6 percent for attached properties.  Listings Under Contract increased 28.7 percent for detached homes and 18.7 percent for attached properties.

The Median Sales Price was up 9.0 percent to $205,000 for detached homes and 9.2 percent to $181,250 for attached properties.  Months Supply of Inventory decreased 8.2 percent for detached units and 9.0 percent for attached units.

The national home ownership percentage is the lowest since 1993, when Jurassic Park was the highest-grossing movie.  Rental prices continue to astonish with accelerated price growth, which may cause some to think twice before locking in a 12-month lease.  Lending practices and mortgage rates will also have a decided effect on the number of buyers who will become homeowners this year.  With the release of Jurassic World this month, we are reminded of cyclical conversations in both real estate and movie making.

MRED real estate professionals can log into MREDLLC.com and click on the Statistics tab to get the latest Lender Mediated and Monthly Market Indicators Reports.  You can also click on the Local Market Updates choice under the Statistics tab and use our Interactive Market Analytics map for the latest local market metrics.

Any questions?  Please contact MRED’s Help Desk at 630-955-2755 or help.desk@MREDLLC.com.

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