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The greatest enemy of progress is not stagnation, but false progress.
– Sydney J. Harris (1917–86), famed columnist
New listings for the week ending February 23 posted 1,832 units, down 10.1 percent from the same week in 2007. Signed purchase agreements (pending sales) declined from last year by 15.9 percent for the same timeframe comparison, posting 635 units. Despite the general decline in seller activity, the total number of homes for sale is ahead of this time last year by 9.8 percent. Also, this week's Weekly Market Activity Report features a new March Supply-Demand Ratio of 8.72 houses per buyer, up 38.4 percent from March 2007.
Looking for a silver lining to the weekly litany of grimacing news? Well, the seemingly endless swell in the growth of homes for sale has steadily declined. The Supply-Demand Ratio is the lowest it's been since June 2007. Housing affordability is at its highest point since 2004. And we're receiving anecdotal evidence of increased buyer traffic beyond seasonal norms over the past few weeks.
It ain't all bad news, folks. The word on the sheet may not yet match the work on the sheet, specifically pending sales, but ample supply, lower interest rates, weakening median prices and healthy affordability are all historical buyer opt-ins.
Buyers are out there. They may be uncertain of the market's bottom or current appreciation rates, but unless everyone moves away or decides to rent or does absolutely nothing, pent up buyer demand has the inevitable feel of unfurl. Whether it has already begun or starts a year from today is still in question. But we're watching from all angles, and we welcome you to the watch list. Write us, call us, take advantage of the chat feature on the new and improved www.mplsrealtor.com website. We're listening and eager to learn.
Speaking of learning, we are currently highlighting MAAR's two housing market classes for continuing education credit. "Real Estate Math: Statistics" provides instruction on how to find, interpret and utilize statistics on the housing market. "Wake Up, Shift Happens!" is an interactive analysis of where the housing market has been and is going next.
Real Estate Math: Statistics
Date and Time: March 18, 1:00 p.m. – 4:00 p.m.
Credits: 3
Instructor: Jeff Allen, MAAR Research Manager
Location: MAAR Office
Wake Up, Shift Happens!
Date and Time: March 19, 9:00 a.m. – noon
Credits: 3
Instructor: Jeff Allen, MAAR Research Manager
Location: MAAR Office
Register online or contact Delores Dahlsten at deloresd@mplsrealtor.com or 952.988.3153.
Click the logo below or click here for this week's full report. Visit Market Info for reports as far as the eye can see.
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 Ocular fête?
Say what?
Don't fret.
It's just a fancy way of saying...
feast your eyes on this!
And it's not just about the emperor's new clothes.
We've added several new and noteworthy features, including:
Things to Do – web 2.0 is about interaction; try these action verbs on for size
In the News – event-driven MAAR happenings right on the tip of your tapper
Today in the Market – a single repository for all of our best market tools
The Skinny – a blog (with teeth) about the Twin Cities housing market
Chat – don't feel like calling? Then don't.
Videos – who has time to read anymore?
Calendar – an interactive course and event calendar...like it should be
Navigable – no more guessing where the forms are
Maps – yeah! visuals! see them at The 100 and within Public Affairs
And a Search function that actually peforms searches!
Give it a spin. Call or write us with questions, comments and concerns. And watch this space for more changes. Your weekly enotes will be next!
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 As if the weekend isn't already short enough.
Advance one space.
Do not pass "Go."
Do not collect $200.
But do enjoy the longer days.
And the promise of warmer weather.
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 Topic: Adapting to the Challenge of Change
MAAR presents a panel discussion on managing the major changes taking place in our industry. What are consumers, agents and brokers looking for in today's market? Are there new opportunities available? How do you deliver and market these products and services?
Date and Time: Friday, March 14, 9:30 a.m. to 11:00 a.m.
Location: MAAR Office, 5750 Lincoln Drive
Register with: Linda Stoeckicht at lindas@mplsrealtor.com or 952.988.3157. Brokers and managers welcomed. No cost.
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For agents and the clients they've worked with: In today's challenging housing market, sellers can use a little luck. Do you have a selling superstition such as burying a statue of St. Joseph? Have other techniques brought you a buyer? What's worked for you? If you're willing to share your story with a reporter, send a note including your phone number to Lynn Underwood at lunderwood@startribune.com.
Note: She's NOT looking for staging tips, remodeling how-to information or anything specific home improvements. She's looking for stories of good luck charms and/or superstitutions such as a clients who do things like put out a pot of pink tulips on show days, play a certain music CD, use some sort of feng shui practice, etc.
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If you're not feeling like the Ann Brockhouse Scholarship fits you, maybe try a different angle. Because this year we are offering two free scholarships to the 2008 NAR Midyear Legislative Meetings in Washington, DC!
MAAR is sending a second REALTOR® member who is committed to servicing the emerging markets communities to the meetings. All expenses are paid by MAAR. Applicants must demonstrate their commitment to serve the emerging markets communities with efforts to increase homeownership among diverse communities in Minnesota. Applicants must submit a copy of their business plan with this scholarship application. Applications will be measured by the individual's community involvement and a comprehensive and inclusive business plan.
Eligibility: Applicants who are passionate about closing the homeownership gap, immigration issues, community/civic involvement, inclusion and diversity issues, and international real estate markets are encouraged to apply for the Emerging Markets Services Scholarship.
The application deadline for this scholarship is March 28, 2008! | Apply here now!
If you have questions regarding the scholarship or application, please contact Donnie Brown at 952.988.3133 or donnieb@mplsrealtor.com.
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 After 25 years as MNAR's Chief Lobbyist, Glenn Dorfman is passing the torch at MNAR. Glenn has been invited back for LID and will address Minnesota's REALTORS® one final time! Join the Minnesota Assocation of REALTORS® on April 3 in St. Paul for their annual Legislative Impact Day and stay for the afternoon reception for fan favorite and Rick Kupchella's first call, Mr. Glenn Dorfman.
When: Thursday, April 3, 2008
Where: Crowne Plaza Hotel, 11 Kellogg Blvd., St. Paul, MN
LID Schedule of Events
9:00 a.m., Arrival, check-in and coffee/refreshments
10:00 a.m., 2008 Legislative Update presented by Susan Dioury and Christine Berger (2.0 hours CE pending)
12:00 p.m., Lunch Break - box lunch included
12:30 p.m., MN Legislative Leadership Update presented by House and Senate Majority/Minority Leaders (2.0 hours CE pending)
2:00 p.m., Parting remarks by Glenn Dorfman
3:00 p.m., Adjournment
MNAR Reception in Honor of Glenn Dorfman
3:30 p.m., Arrival, hors d'oeuvres buffet
4:45 p.m., Program "Glenn Dorfman: This is Your Life"
6:30 p.m., Adjournment
Due to the special events at LID and the reception, advance registration for both events is required. Registrations will be accepted on a first come, first serve basis and both events are expected to sell out quickly.
Costs:
LID – $50 (includes materials, 4.0 hours CE pending, lunch and refreshments)
Reception – $25 (includes hors d'oeuvres; cash bar also available)
Advance, separate registration for one or both events required. Register now!
Source: Minnesota Association of REALTORS®
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Now that we have a stimulus package, let's hurry it up
 NAR has called on both the U.S. Department of Housing and Urban Development (HUD) and the Office of Federal Housing Enterprise Oversight (OFHEO) to promptly implement the higher conforming loan limits for Fannie Mae and Freddie Mac and the increased Federal Housing Administration loan limits that Congress mandated and that President George W. Bush signed into law. In a letter to HUD Secretary Alphonso Jackson and OFHEO Director James Lockhart, NAR noted that failing to move quickly to allow Fannie Mae, Freddie Mac and the FHA to increase their loan limits will prolong the nation’s mortgage crisis and make a recovery in the housing market more difficult. more
 REALTORS® out in force against fraud
Foreclosure rescue scams have caused problems for many households. Older homeowners and other vulnerable borrowers are frequently targets. Representatives from NAR testified last week before Congress, including MAAR's own John Anderson, Twin Oaks Realty. John, MAAR Past-President from 1998, and others called for increased funding for programs that provide financial assistance, counseling and consumer education to borrowers to help them avoid foreclosures and foreclosure rescue scams. more
"REALTORS® are not only in the business of helping people into homes, but also making sure they keep their homes," said Anderson. "Abusive lending and foreclosure rescue scams erode confidence in the nation's housing system and destroy families and communities."
Click here to view the webcast of "Foreclosure Aftermath: Preying on Senior Homeowners." John appears about 31 minutes into the webcast.....without a mustache.
Internet Fraud
Fraud, of course, is not limited to foreclosure rescue scams and preying on the elderly. MAAR member, Steve Westmark, Counselor Realty, recently shared a story about what appeared on many levels to be a reputable buyer from England that turned out to be a fake. This phony buyer worked for weeks on a cash deal for a lake home up north and even signed a purchase agreement. When it came time to put some money down, the buyer claimed that the wire transfer of funds would cost $3,000. The buyer claimed that he did not want to incur this cost and asked that $3,000 be sent by credit card to cover this cost. It was agreed that this cost would be covered, but not until closing. Once this message was relayed to the buyer, he evaporated. Suspecting Internet fraud, the FBI was notified and they said this elaborate scam was all too familiar to them. Worse, they said that 70 percent of the people who get embroiled in this scam make the mistake to pay the money before closing. This sort of issue is of particular concern for those selling homes in higher price ranges, where $3,000 doesn't seem like so much money against a $1 million property.
Learn About Fraud
MAAR's next class on real estate fraud is Wednesday, March 19. For details, see page 18 of MAAR's education catalog, The Source.
Sources: National Association of REALTORS®; Steve Westmark; MAAR
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The REALTOR® Expo 2008 is just two months away. Now is the time to register for great placement within the tradeshow if you or someone you know has a product, program or service ready to showcase to REALTORS®. Real estate companies welcomed – one booth per company. For registration information, click here or contact Amy Ransom at amyr@mplsrealtor.com.
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An online presence is a vital component of a real estate professional's marketing strategy. Because today's consumers want accurate information quickly and conveniently, real estate professionals must harness the features, capabilities and opportunities of online marketing to meet these ever-increasing customer demands. Most people understand the basics of online marketing, but take advantage of the tips and insights through these two great resources to enhance your online marketing activities:
- Check out the National Association of REALTORS® Field Guide to Effective Online Marketing.
- Attend the "Trends in Online Marketing" session at REALTOR® Expo 2008 on April 21! Nationally recognized speaker, Verl Workman, will host this fun and engaging session that will explore Internet consumer behavior, the changing population and the new expectations consumers have of their agent. Learn to work smarter, leaner and more effectively with new online marketing tools and technologies. Click here to learn more!
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 MAAR is hosting a full-day program from Minnesota's Emerging Market Housing Initiative (EMHI).
Date and Time: Friday, March 21, 9:00 a.m. – 4:00 p.m.
Location: MAAR Office, 5750 Lincoln Drive, Minneapolis, MN 55436
Serving Emerging Markets: Barriers & Solutions – 3.0 hours
Upon completion of this session, participants will be able to:
- Examine Minnesota’s unique place in the national marketplace and the gaps that exist in homeownership for traditionally underserved communities.
- Understand how to identify specific financial needs of emerging market clients.
- Develop a core understanding of the financial resources available to emerging market and/or multicultural clients. This includes solving issues of cash needed for closing, debt-to-income ratio, job/income stability, credit history (or lack of it), comprehensive home buyer education and counseling, and translation services.
Serving Emerging Markets: Law and Ethics – 3.0 hours
Upon completion of this session, participants will be able to:
- Understand core business ethics and the effects unethical practices have on all Minnesota communities, and especially Minnesota’s Emerging Markets.
- Access the existing state and federal laws that protect both consumers and industry professionals, and show their increased importance to EMHI.
- Communicate the EMHI Code of Conduct and Standards of Practice.
- Assist consumers in reporting industry professionals who violate the code of conduct, break the laws, or are not acting as trusted advisors.
Registration is done through EMHI at 651.203.7254 or via www.emhimn.org. NOT THROUGH MAAR.
More education highlights for the coming weeks... Start registration process here for all MAAR classes...
Matrix – Introduction
March 5, 9:00 a.m. – noon
If you have to search for listings as part of your daily routine, this is the class for you. Learn how to take advantage of the many available features. Topics covered in this class include:
• Customizing for your preferences
• Generating mailing labels direct from Matrix
• Utilizing map searches
• Customizing prospect auto-email
• Confirming that prospects are viewing listings
Credits: 3
Location: The PDC@RFC, 4450 W 76th St, Edina, MN 55435
Tuition: $36 REALTOR®, $72 Non-REALTOR®
Listings that Sell Themselves
How to Create More Appeal for Your Listings
March 6, 9:00 a.m. – noon
Market research confirms that more attractively presented listings sell faster and for a higher price than comparable properties. From curb appeal to de-cluttering tips, you will learn ways to showcase your listings to potential buyers. Get advice on how to keep preparation problems from holding up your sales. Explore real case studies that real estate professionals often face when preparing a property. Course topics include:
• How to successfully generate appeal for a listing
• Coaching sellers in preparing their home to sell
• Creative problem-solving techniques
Credits: 3
Location: MAAR Office, 5750 Lincoln Drive, Minneapolis, MN 55436
Tuition: $36 REALTOR®, $72 Non-REALTOR®
Essentials VI – Sustaining a Consumer-Focused Real Estate Business
March 7, 9:00 a.m. – noon
The odds of long-term business sustenance are not in the favor of the new agent. This class is designed to help you beat the odds. You will receive an understanding of federal and state Fair Housing Laws and explore ways toward a successful business. Business plans and successful routines will be covered.
Credits: 3
Location: MAAR Office, 5750 Lincoln Drive, Minneapolis, MN 55436
Tuition: $36 REALTOR®, $72 Non-REALTOR®
Identity Theft
You, Your Business and Your Client
March 10, 1:00 p.m. – 4:00 p.m.
There are countless new victims of identity theft each day. Learn ways in which identity theft has an impact on the real estate transaction. Gain useful knowledge of the FACTA Act, including what you are required to do as a business person when it comes to protecting the identity of your customers. Explore case studies of real identity theft victims. You will leave with helpful tips on ways you and your customers can protect against identity theft.
Credits: 3
Location: MAAR Office, 5750 Lincoln Drive, Minneapolis, MN 55436
Tuition: $36 REALTOR®, $72 Non-REALTOR®
eEssentials 1 – Matrix Primer
March 11, 1:00 p.m. – 4:00 p.m.
In Matrix Primer, you will gain the skills to utilize the NorthstarMLS Matrix software to your advantage and to better serve the needs of your client. Topics covered include property search, contact management, email and auto-email features, map search capability, tax search, and report generation. Please note: If you wish to take the Matrix Primer course and have already taken introductory Matrix, please call us so we can confirm if you can receive the CE credits.
Credits: 3
Location: The PDC@RFC, 4450 W 76th St, Edina, MN 55435
Tuition: $36 REALTOR®, $72 Non-REALTOR®
Call 952.988.3153 with additional questions. REALTOR® owned, REALTOR® operated.
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REALTOR® Senior Advisor (RSA) Certification Program
MAAR is hosting an RSA lunch n' learn session at the PDC@RFC on Wednesday, March 5 from noon to 1:00 p.m. The topic will be "How to Divide Property Without Dividing the Family" presented by Carla Sutter, Case Manager, Fairview Health Systems. Dessert and beverages will be provided. You bring your lunch...and be ready to learn!
Date and Time: Wednesday, March 5, noon – 1:00 p.m.
Location: The PDC@RFC, 4450 W 76th St, Edina, MN 55435
Presenter: Carla Sutter, Case Manager, Fairview Health Systems
For more information, contact Nancy Scott at nancys@mplsrealtor.com.
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 NAHB study finds design, desire to be near family drives decision to move
With the 55-plus population expected to exceed 85 million by 2014, the nation's home builders have been increasingly catering to the unique needs and interests of mature home buyers, according to a new study that was released last week by the National Association of Home Builders (NAHB).
According to the data compiled by NAHB's 50+ Housing Council, more than a quarter of a million people will opt to buy new housing in communities specifically built for those ages 55 or better, and more than 100,000 units constructed in 2008 will be targeted to this growing niche market. The report, Profile of the 50+ Housing Market, also dispels some common perceptions about the older home buyer: first, "downsizing" is a relative term and, second, the vast majority of these buyers won't be relocating to the Sun Belt.
The report found that homes in age-restricted active adult communities were only slightly smaller than other homes purchased by 55+ home buyers in both square footage and the total number of rooms, including bedrooms and bathrooms, but were less likely to have a specialty room such as a den or library. In addition, the majority of age-restricted housing buyers (59 percent) indicated they felt they were moving into a better home than their previous one, although fewer than half (41 percent) said their new home cost more than the old one.
The report also suggests that new home buyers in this niche market are not as adversely affected by the current troubles in the mortgage market. Fewer than half of the customers who bought a new home in an age-qualified active adult community needed to take out a mortgage. Of those who did, the study found, the loan-to-value ratio was under 50 percent. Nearly all home buyers in these communities who made a downpayment reported that the downpayment came from the sale of a previous home.
The complete Profile of the 50+ Housing Market report is available free to members of the NAHB 50+ Housing Council and can be purchased by nonmembers in a downloadable format at www.nahb.org/50plusresearch. For more information, contact Ann Marie Moriarty at 202.266.8350 or amoriarty@nahb.com.
Source: National Association of Home Builders (NAHB)
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 Have you ever tried going on a long road trip without a map? Have you noticed that it is easier to find your way when someone is riding shotgun? The Women's Council of REALTORS® would like to provide you with that front-seat companionship.
MAAR's education diva, Nancy Scott, will be sharing her thoughts on "Coaching Your Way to Success" in an entertaining and lively presentation. You don’t have to be a member OR a woman to attend these meetings! WCR is an organization open to all real estate agents and real estate-related affiliates such as title companies, inspection services, etc. All are welcome!
Date and Time: Wednesday, March 12, 11:00 a.m. – 1:00 p.m.
Location: Theodore Wirth Golf Course Clubhouse
1339 Theodore Wirth Parkway, Minneapolis, MN 55411
Cost: $20 for members; $30 for nonmembers and guests
Please plan to pay by cash or check; no credit cards. Receipts are offered for tax purposes.
If you are not already a member you can join at the luncheon for $120/year!
Note: If you need to cancel your reservation, notify WCR no later that the Monday prior to the meeting. You will be charged for lunch if there is no cancellation.
For more information, please contact Colleen Schultz, VP of Membership, colleenschultz@remax.net, 952.221.5215 or Maura Kolars, President, mauraperk@aol.com, 612.382.5990.
Source: Women's Council of REALTORS®
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Ramon Ray, editor of smallbiztechnology.com and Dell Small Business Expert, will host a live online chat in the Dell Community Forum, Tuesday, March 11, at noon CST. Don't miss the chance to discuss the six rules to using technology in your small business:
- Spend money on your technology as an investment – not as a cost.
- Email programs are NOT CRM.
- Web 2.0 is no joke.
- Mobile technology empowers small businesses.
- Smart small businesses outsource their tech needs. Stupid ones do it all.
- Don't technologize a bad business process.
To participate in the chat, you will need a user ID and password for the Dell Community Forum. If you do not have one already, you will need to create one. For more information and to create an ID and password, start here.
A link to the chat will be available at this same website on Tuesday, February 26, including the ability to ask questions of Ray in advance.
Source: Dell (a NAR affinity partner)
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You are invited to attend the upcoming InternetCrusade® Technology Workshop featuring the e-PRO® Certification course, the only technology course offered and endorsed by NAR. Attendees will walk away with valuable technology tips that can be put to use immediately.
- Discover the four essential elements of a successful website strategy.
- Learn easy ways to differentiate yourself from the competition.
- Find out how to leverage the power of a permanent email address.
 Attendees will also receive a FREE full-featured website. This website includes everything you need to begin creating your own online branding including a web page for every listing with multiple pictures as well as free uploading of virtual tours. You also have the option to share your listings through syndication to Google, Yahoo and other media outlets.
You don't have to be a technology expert to attend this program. Get in tune with the wants and needs of today's Internet-empowered buyers and sellers. Start working smarter. Enroll at this FREE workshop and receive a $25 discount from the normal $359 fee and an 8-month enrollment (instead of 6 months) for this online course.
Click here to sign up or call 1.866.377.0627 (toll free).
Next local e-PRO® Workshop:
March 7, 2008, 9:00 a.m. – 10:00 a.m.
The PDC@RFC, 4450 W 76th St, Edina, MN 55435
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