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REinventing MLS
Category Archives: Agent “Doing Business” Discussions
MRED Chicagoland Report for July, 2014
Although low supply and tight credit standards are still hurdles to recovery, prices continue to rise in most local areas. Job growth has strengthened lately, but wage growth has not kept pace with the price gains we have seen. Buoyed by stable and continuously lower interest rates, affordability is still historically high yet below its all-time peak. Rising inventory levels will lead to more choices for qualified buyers, but as the summer reaches toward fall, the prospect of more homes coming on the market begins to wane.
New Listings in Chicagoland were up 12.1 percent for detached homes and 10.3 percent for attached properties. Listings Under Contract increased 8.1 percent for detached homes and 3.5 percent for attached properties.
The Median Sales Price was up 7.1 percent to $225,000 for detached homes and 10.5 percent to $179,000 for attached properties. Months Supply of Inventory increased 1.4 percent for detached units but was down 6.8 percent for attached units.
The U.S. Department of Commerce reported that GDP grew at a 4.0 percent annual rate in the second quarter and that the first quarter was less bad than previously thought. Consumer spending in the first quarter rose 2.5 percent, which is encouragingly in tandem with savings rates. Increased consumer spending means more demand for goods and labor; increased savings rates means more resources for down payments. With rates still low, rents still rising and private job growth accelerating, it’s becoming more and more difficult to side with the housing perma-bears.
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. MRED’s July Market Statistics package will be posted on Thursday, August 21st.
Any questions? Please contact MRED’s Help Desk at 630-955-2755 or help.desk@mredllc.com.
Historic Mortgage Rates by Decade [Infographic]
Infographic via KCM Blog
MRED and dynaConnections Sign Agreement to Continue Their Decade-Long Partnership
LISLE, ILLINOIS (August 12, 2014) – dynaConnections Corp., leading provider of the innovative connectMLS multiple listing service solution, signed a multi-year renewal agreement on Thursday, July 31 to provide connectMLS to Midwest Real Estate Data LLC (MRED). After celebrating ten years of partnership with MRED in December 2013, dynaConnections will continue to provide connectMLS for another complete term. connectMLS is a fully customizable MLS solution that offers a rich set of intuitive features and tools, such as all-in-one transaction management and embedded fill-able Forms, and is compatible on any web browser, platform, and mobile device.
“Our mission is to provide the very best MLS to our customers,” said Jeff Gregory, Chairman of the Board for MRED. “We have succeeded thanks in large part to dynaConnections, whose staff has been relentless in delivering an MLS solution that is unsurpassed in the industry. In fact, connectMLS has been the top-rated MLS system in the country for two years running according to the WAV Group MLS Technology Survey. Their customer service and responsiveness to our staff is top-notch. We are thrilled to continue this great relationship with Tim Ford and his staff.”
Ford, CEO of dynaConnections echoed the sentiment by explaining, “We’re glad to continue serving and working with MRED. Their staff and membership share our constant push for innovation, and embrace our drive to surpass what the real estate industry expects of its MLS solution provider. We look forward to seeing what new achievements we can reach together.”
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 dynaConnections Corporation and connectMLS™
dynaConnections Corporation is an Austin-based real estate software company that is renowned for constant innovation and dedication to service. Its flagship product, connectMLS™, is a patent-pending, one-of-a-kind multiple listing service solution that is second to none with millisecond response time and ease of access on all devices and web browsers. Rich embedded features and seamless integrations allow connectMLS to be an intuitive, all-in-one real estate transaction manager for both agents and clients. For over thirteen years, dynaConnections and the connectMLS solution have been continually exceeding all standards of what the real estate industry expects from an MLS provider. For more information, visit: http://www.dynaconnections.com.
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dynaConnections and connectMLS are registered trademarks of dynaConnections Corporation. All other company and product names may be trademarks of the respective companies with which they are associated.
MRED Chicagoland Report for June, 2014
Housing seemed to have a slow start to the spring selling season, but appearances deceive. Dig into that spring soil and you begin to unearth differences in individual areas and market segments. Inventory is slowly rising in some areas. Activity is picking up in the upper price tiers. Rents continue to climb in most metros. And interest rates are generally lower than a year ago, to the surprise of some and the delight of others.
New Listings in Chicagoland were up 14.3 percent for detached homes and 12.2 percent for attached properties. Listings Under Contract increased 12.1 percent for detached homes and 8.7 percent for attached properties.
The Median Sales Price was up 4.7 percent to $225,000 for detached homes and 12.5 percent to $180,000 for attached properties. Months Supply of Inventory decreased 4.6 percent for detached units and 14.5 percent for attached units.
Housing is one part of a broader ecosystem that thrives on a strong economy that churns out good jobs. First-quarter employment figures were adequate but not thrilling, but second-quarter numbers figure to be more positive. Access to mortgage capital remains an ongoing concern. As cash and investor deals fade, first-time buyers typically step to the forefront, but tight credit can and has been a real hurdle.
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. MRED’s June Market Statistics package will be posted today.
Any questions? Please contact MRED’s Help Desk at 630-955-2755 or help.desk@mredllc.com.
2014 Profile of International Home Buying Activity [Infographic]
Infographic via realtor.org
MRED Responds to Its Customers with Responsive Design
Chicagoland MLS Delivers Consumer Web Pages Fit for Any Device
LISLE, ILLINOIS (June 18, 2014) – Every month Midwest Real Estate Data (MRED), the Chicagoland multiple listing service (MLS), reviews how many people are accessing their property database. Early on, MRED realized how prolific the use of mobile devices was among both Realtors® and consumers. With that in mind, MRED today rolled out phase one of its project to deliver MLS data and services in a more mobile friendly manner. The result being that Consumer Web Pages, the method through which Realtors® collaborate with their clients via the MLS system, can now be delivered in a format utilizing responsive web design (RWD) – a method that creates dynamic changes to the appearance of a website, depending on the screen size and orientation of the device being used to view it.
MRED research revealed that of those consumers receiving property listings from their broker, nearly 50% use a mobile device with which to view them. In April alone, close to one million accesses to Consumer Portals were made via iPhones. These numbers are staggering, and will only increase as the mobile web overtakes desktop and laptop computers.
MRED, in partnership with dynaConnections, Inc., creators of connectMLS™, MRED’s core MLS system, has committed to making connectMLS more “mobile friendly”. With the responsive web design approach MRED will deliver a user experience that provides an optimal viewing experience on all devices. The result is that it will be easier to read and navigate, with a minimum of resizing, panning and scrolling.
Migrating to responsive design is a massive undertaking. The plan is for MRED and dynaConnections to transition in stages – prioritizing those system features that get the most use allowing for the introduction of useful modifications to the MLS system over time, rather than waiting for the completion of an entire overhaul.
“MRED is thrilled to introduce this latest enhancement to our customers,” said Russ Bergeron, MRED President and Chief Executive Officer. “Whenever we can make it easier and more convenient for our customers to be able to communicate with their clients, we feel we have accomplished one of our major goals – the facilitation of real estate transactions. Every day we strive to take MRED to the highest level – this latest achievement and our continued efforts in this area are obviously a high priority for MRED and dynaConnections.”
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 dynaConnections Corporation
dynaConnections Corporation is an Austin-based company that is renowned for its constant innovation and dedication to service. dynaConnections provides an MLS solution, connectMLS™, that is second to none with its millisecond response time and ease of access via all browser platforms. connectMLS™ is created to be both powerful and easy to use, and exceeds all standards of what the real estate industry expects from their MLS provider. For more information, visit dynaconnections.com.
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