Towns, Counties, Schools, GBLT, and More! Help line & Resource Center Commissions! What You Should Know About Agency! Go House Hunting! Tour Our Listings Back to Our Home Page


Meet Ann!
Fairy Tales
2007 Year In Review
Fairy Funny Ads
Sign My Guestbook | Contact Ann | Home

Archives
2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999

2005 in Review
From My Home To Yours, Happy New Year!

Dear Friends, Clients and Prospects:

LATE AGAIN:

I’m the first to admit that sometimes I’m late for appointments. I’ve even been late once or twice sending out my holiday greeting and calendar for the New Year. But I’ve never this late. Maybe I’m genetically predisposed to lateness. Or suffer from the dilly dally syndrome. Whatever the cause, the result is the same. I’m regrettably late once again. No excuses, just a word of explanation for my tardiness. The calendar itself was printed and ready for mailing by FedEx Kinko’s when left town on December 28th to spend New Year’s in Florida with my family. But, my holiday greeting was only partially started. My plan was to finish it there and email it back to Kinko’s printing and mailing on the 2nd. That didn’t happen. My alternative plan was to finish it as soon as I got back from vacation. That didn’t happen either. When I arrived home on January 3rd, I returned with a cold picked up from a family member (who shall remain anonymous). I had laryngitis the first two days and then developed a sinus and ear infection. Not a great way to begin the New Year, but it can only get better, right? So I find myself today (Jan 11th) picking up the pieces and moving forward.

IS THERE A HOUSING BUBBLE?

And when will it burst? Inquiring minds want to know. We’ve all read about it in the newspapers or heard the chatter on TV. Did you know that there are housing bubble blogs on the internet, if you want to participate in the dialogue? I’m not an economist, just a real estate professional with some 11 years of experience in the Twin Cities housing market. So here’s my opinion. The housing bubble may not have burst (yet), but someone or something is letting out the air. Homes here are staying on the market longer, prices are coming down, and everyone is asking “Where have all the buyer’s gone?” While lower prices and high inventory is good news for Buyers, Seller’s are not so happy. In 2005, I had four listings expire without selling. Thankfully, the Sellers have not blamed me and will re-list with me in the spring. There’s only so much us realtors can do to market properties for sale. Patience is needed. Praying is helpful. Proper pricing and home presentation are crucial.

AVERAGE SALES PRICES:

Excerpt from the Minnesota Housing Report, Second Quarter 2005, Shenehon Center for Real Estate, University of St. Thomas: Housing prices over the time period from 1998 to 2003 grew nearly 5 times faster than inflation. Inflation increased approximately 13% over this period, whereas housing prices increased 62%. In the 18 month period covering 2004 and early 2005, inflation increased about 5% and housing prices have risen approximately 8%. Although housing price increases are still out-stripping inflation, housing prices have “cooled” somewhat to more steady rates over the past few years. Even over the period 1998 to 2003, housing price increases were greatest in the period 1998 to 2001 (an average increase of about 12% per year) and then fell off to an average 8% increase per year over the period 2002 (10% increase) to 2003 (6% increase). This trend has continued to be relatively stable in the most recent period. As can be seen below, the Twin Cities Metro area had the highest average sales prices (approximately 36% higher than the Non-Metro regions of the State). Of the Non-Metro regions, the West region had the highest average prices and the Southeast region had the lowest prices.

Q2 2005 Average Sales Price by Region-Residential
(and Percentage Changes from Q1 2005)

Statewide

Metro

Non-Metro

North

West

South

Southeast

$260,633
(+5.4%)

$277,874
(+5.7%)

205,234
(+6.5%)

$205,999
(+13.9%)

$212,509
(+5.0%)

$203,768
(+4.8%)

$183,124
(+2.9%)

SALES PERFORMANCE RESULTS:

I was pretty darn busy the first half of 2005 and had a record number of closings in July. But my business started to cool off in late summer. I had expected to reach my goal of 30 transactions in 2005. Instead I ended the year with only 20. As can be seen below, my total sales volume in 2005 was less than in 2000, when I had 33 transactions. My data underscores the inflation in housing prices we’ve witnessed in the Twin Cities Metro area since 1998.

My Sales Performance Results
Year Total Volume Transactions Average Price Median Price
1994 $83,500 1 $83,500 $83,500
1995 $1,036,681 14 $74,049 $68,750
1996 $1,976,600 22 $88,845 $88,550
1997 $1,909,975 21 $90,951 $87,900
1998 $2,113,870 18 $117,437 $110,950
1999 $3,413,682 32 $106,678 $106,700
2000 $4,265,212 33 $129,249 $119,900
2001 $4,752,777 29 $163,889 $156,000
2002 $6,538,534 37 $176,717 $157,000
2003 $4,362,700 23 $189,683 $190,000
2004 $5,775,106 26 $222,119 $209,900
2005 $4,211,873 20 $210,594 $217,575
Cumulative Results $40,440,510 276 $141,518 $130,000

INTERESTING CLIENT DEMOGRAPHICS:

While your handy dandy 2006 Calendar puts a face on my 2005 statistics above, here’s a brief synopsis of my 2005 client demographics, including Who I served and What and Where they bought or sold:

  • In 2005, 20% of my clients were sellers and 80% were buyers, compared to 35% and 65%, respectively, in 2004. Over the past five years (time period 2001 to 2006), 29% of my clients were sellers and 71% were buyers.
  • In 2005, 60% of the buyers I worked with were first-time homebuyers and 40% were repeat buyers, compared to 35% and 65%, respectively, in 2004. Over the past five years, 62.5% were first-time homebuyers and 37.5% were repeats buyers.
  • In 2005, 75% of my clients were gay and lesbian, up from 65% in 2004. Over the past five years, the gay and lesbian population has accounted for 60% of my business. Interesting Facts: The Twin Cities of Minneapolis/St. Paul, the 12th largest metro MARKET in the United States, are home to one of the largest GLBT communities in the United States. Minneapolis has the second highest percentage of GLBT population in the United States, second only to San Francisco. The 2000 U.S. Census ranks Minneapolis as having the third largest concentration of gay and lesbian couples.
  • In 2005, 30% of my clients were single, 55 % were gay and lesbian couples, and 15% were married or unmarried heterosexual couples. Over the past five years, 41% of my clients were single, 34% were gay and lesbian couples, and 23% were married or unmarried heterosexual couples.
  • In 2005, 10% of my business originated from ad calls, 20% from referrals, 45% from repeat customers, 15% from the Internet, and 10% from other sources. Over the past five years, 22% of my business originated from ad calls, 31% from referrals, 30% from repeat customers, 11% from the Internet, and 7% from a variety of other sources (including telemarketing, personal promotion, open houses, yard signs and classified ads for listings).
  • In 2005, half of my ad calls came from Lavender Magazine and half from the Minnesota Women’s Press. Over the past five years, 71% of my ad calls came from Lavender, 26% from the Minnesota Women’s Press or annual Minnesota Women’s Directory, and 3% from ads in event programs.
  • In 2005, 80% of my clients purchased or sold single family homes and the other 20% purchased or sold townhouses or condo/coop units. Over the past five years, 79% of my clients purchased or sold single family homes, 13% purchased or sold townhouses or condo/coop units, and 7% have purchased or sold duplexes.
  • In 2005, 70% of my clients purchased properties in Hennepin County, 20% in Ramsey County, 5% in Dakota County, and 5% in Anoka County. Over the past five years, 66% of my clients have purchased or sold properties in Hennepin County, 21% in Ramsey County, 9% in Dakota County, 2% in Washington County, with the remaining 2% in Anoka, Isanti, Pine, Scott, and Sherburne counties.

I’m happy to report that in 2005, all my clients choose exclusive representation (Seller’s Agent or Buyer’s Agent contracts). I have only rarely engaged in Dual Agency, a matter of personal choice.

HIGHLIGHTS FROM 2005:

  • The biggest news of the year is that MAVRIK REALTY doubled in size. In April, Mark Norris joined MAVRIK REALTY. Mark is a past client who decided to get a real estate license. He worked for Coldwell Banker Burnet for his first two years in the business. Mark specializes in investment properties, being an investor himself. He’s provided vacation coverage for me in the past, but now he can do it as an official member of the MAVRIK REALTY POSSE (and I for him).
  • The second biggest news story of 2005 was what I didn’t do. I didn’t hold my annual customer appreciation BBQ in August. I was had to remove my dilapidated deck mid-summer and its replacement must await the completion of my upcoming home remodeling project, tentatively scheduled to begin in February. I’ve been working with an architect for what seems like forever and selected a contractor who’s preparing his bid for the proposed work, which when all is said and done will include: tearing down the 3-season porch over my existing single stall garage, building a great room with gas fireplace and vaulted ceiling over my existing garage, adding a 16x 24 attached garage, removing the existing solarium off the back of my house, and extending my kitchen area out about 15 feet. My new kitchen will include stainless steel appliances, maple cabinets, maple floors, and an island with seating for two plus an informal dining space facing the backyard with a wall of windows. I can’t wait to have you all over once the work is completed (probably just in time for the annual BBQ).
  • I served on the Minnesota Association of Realtors 2005 Professional Standards Committee. I’ve learned much over the past year from hearing ethics complaints and arbitration cases. I’ll be serving again in 2006. Learning from others’ mistakes will make me a better realtor if I put it to use.

YOUR 2006 CALENDAR:

Your complimentary 2006 calendar is enclosed. This year’s cover features my own backyard winter wonderland. Inside pages are filled with photos of the people I helped in 2005 (plus two from Dec 2004) and photos of the homes they bought or sold. Also featured is the story of Sarah’s Stained Glass Windows (see Feb 2006) along with photos of my Thomas Ave Duplex Remodeling Project (see Nov 2006). When I purchased this duplex in 2003, I remodeled the upper level unit. This past summer, I remodeled the main floor unit and also replaced the single car garage with a new two-car garage. Above the 2007 calendar on the back page, you’ll find my family photo album highlighting my trip in April to London (column 1) and Barcelona (columns 2 and 3) with my sister Joan and mother Elsie in celebration of her upcoming 90th birthday, plus photos from the BIG birthday bash on April 25th in Virginia Beach (column 4), and photos from our Thanksgiving Holiday together in Virginia Beach (column 5).  I’m also enclosing “Got My Life,” a song that I wrote at the tender old age of 23. It pretty much sums up my outlook on life, now and then. On the back of the song, you’ll find samples from my newest ad campaign, the Sod House series. Don’t worry; it won’t replace my ever popular Real Estate Fairy and Baby Ann ads.

I hope you are doing just fine and that we’ll get to see more of each other in 2006! Wishing you hope, peace and equality this holiday season and throughout the New Year,

Ann Leviton

Ann Leviton (aka the real estate fairy)
Broker/Owner – MAVRIK REALTY

Got My Life
By Ann Leviton (1972)

Got my life, got my friends
got my memories of time spent
of time spent with my friends
all my life I've lived for them.

Got myself, which I can give
got my mind to create with
to create with so I can give
God gave life that I should live.

Got my dreams that need be shared
got tomorrow, hope lies there
hope lies where our dreams are shared
get together, we're half way there.

Made a promise, I try to keep
made to all whom I love deep
when I love deep my heart weeps
weeps for joy, now, joy is sweet.

Got my life, now, got my friends.
 

© 1993. Spiritwood Music Inc



Sign My Guestbook | Contact Ann | Home


2105 Southview Blvd.
South St. Paul, MN 55075
Ann Leviton, ABR, CRS, GRI
Broker/Owner
Mobile Phone 612-270-5722
Office 651-457-3369
Fax 651-457-9533