Minneapolis Area Association of REALTORS enotes

Visit enotes online if you have trouble with this email | Add enotes@mplsrealtor.com to your safe list.

Week of July 28, 2008

in this issue

Paint-A-Thon Volunteers Needed! Accredited Staging Professional Series: July 29–31

Weekly Market Activity Report MAAR 2008 Golf Tournament – Early Bird!

Wine & Beer Tasting Event at Stella's Next WCR Meeting: Wednesday, August 6

Housing and Economic Recovery Act of 2008 New Issue of Real Estate Insights

New Monthly Skinny Video! Annual Cost vs. Value: Take the Survey

DisplayKEY Bills are Due Brooklyn Park – Free Homebuyers' Fair

News from NorthstarMLS STCAR Offers CRS 200 Core Course in September

MAAR's Young Professionals Focus Group Americas Real Estate Expo, September 4–6

2008 Ushers in the BOD eBallot MAAR Photos, Videos and Social Networking

New!
MAAR can get your
advertising message to
those you want to reach.

buy ad space | ad policy

Please join us August 4–6
According to a report by the federally funded Corporation for National and Community Service, Minneapolis–St. Paul is the top-ranked metropolitan area for volunteerism. We are proud of this winning statistic, but we need to continue to prove our merit.

MAAR has committed to painting two homes in St. Louis Park from Monday, August 4 to Wednesday, August 6. We would like to see somewhere in the range of 15 volunteers total, and we're still running short.

Any amount of time is acceptable! Lunch, water and soda will be provided!

To register yourself or your team, contact Amy Ransom at amyr@mplsrealtor.com or 952.988.3124. If you, your office or your company would like to be a sponsor, please contact Amy.

In the Twin Cities housing market, sales are flat like a New York pizza and supply is down like grandma's comforter. Fortunately for us, the data confirms our kitschy similes. Pending sales for the week ending July 19 are ahead of the same week last year by 3.8 percent, while new listings fell by 13.0 percent for the same time period—positive signs of a market in transition.

The total number of active listings for sale currently sits at 33,410, (comfortably) down 1,722 units—or 4.9 percent—from this time last year. Since the number of new homes coming on the market remains in decline and sales appear to have hit bottom, we can expect total inventory to remain lower than last year for some time to come.

Click the logo below or click here for this week's full report. Visit Market Info for more research reports.

Wine & Beer Tasting Event at Stella's Fish Cafe

Join MAAR for a fun networking event with other trend-conscious REALTORS® at Stella's Fish Café in the heart of Uptown and enjoy wines, beers and foods perfect-paired with international opportunities.

Date: Tuesday, August 5
Time: 6:00 p.m. to 8:30 p.m.
Addy: 1400 W. Lake St,
Minneapolis, MN 55408
Cost: $27 per person

To register, contact Linda Stoeckicht at lindas@mplsrealtor.com or 952.988.3157. You can also register here. Deadline: Thursday, July 31.

Younger professionals and first-timers are more than welcome! View a printable flyer!

Congress Passes Housing and Economic Recovery Act

Congress has passed The Housing and Economic Recovery Act of 2008, providing some much-needed stimulus to the housing market. The President is expected to sign the bill on Tuesday, July 29.

The comprehensive bill includes GSE and FHA reforms, an FHA foreclosure rescue, a homebuyer's tax credit, limits on seller-funded down payment assistance programs, temporary increases in VA loan limits, and establishment of a National Affordable Housing Trust Fund, and many other provisions. The bill includes various effective dates for these provisions, so studious review is required.

As with most Congressional actions, this bill is not without some controversy. Some members are not happy about the new limits on seller-funded down payment assistance; others see the program as a bailout for homebuyers who accepted risky loans or used their home equity carelessly.

That said, the bill offers some welcome assistance and could be the kick-start the market needs to push potential homebuyers into action. It will surely be the talk of the town in the coming days. view summary

Monthly Skinny Video

Monthly Video Series Hitting Its Stride
The July 2008 Monthly Skinny Video is live, offering another quick-fire look at the current state of the Twin Cities housing market. Narrated by MAAR CEO, Mark Allen.

YouTube version (quicker download, lower quality)

MPG version (slower download, higher quality)

DisplayKEY Bills Due

The annual DisplayKEY bill was due July 17, 2008. If payment is not made by August 11, GE Security will inactivate outstanding accounts. If you have question regarding your DisplayKEY or invoice please contact GE Security at 1.877.699.6787. Payments can be made online or by phone:

Online: Click here to pay online or
visit www.supraekey.com and click on "Agent WebPAY."
Phone: Call GE Security at 1.877.699-6787.

Source: GE Security

News from NorthstarMLS

Listing Manufactured Homes on NorthstarMLS
The recent addition of the "Manufactured Home Yes/No" field makes it easier to identify manufactured homes on the MLS. The following Q & A is a quick guide for agents listing manufactured homes:

What defines a home as "Manufactured" for the purpose of NorthstarMLS?
A manufactured home has a HUD ID number. This is a serial number assigned by HUD that can be found on a metal plate affixed to the outside of the home (also listed on the Data Compliance Certificate). Manufactured homes are built entirely in the factory and constructed to HUD codes.

Should I identify a Modular Home as "Manufactured"?
For the "Manufactured Home Yes/No" field, select "No." Modular homes are built to local, not HUD, standards and therefore do not have a HUD ID number. If you wish, you may identify it as a Modular Home in the Remarks fields or supplements.

What if I am listing a Mobile Home?
Mobile homes are not allowed to be listed on NorthstarMLS. To be listed, a home must be permanently attached to the land. If you are listing a parcel of land that has a mobile home on it but no permanent structure, it must be listed under the Lots & Land property type.

Source: Regional Multiple Listing Service (RMLS)

Yo Pro! MAAR's Young Professionals

We are well-represented at the top of the experience heap here at MAAR. According to our last member survey, the average age of MAAR members is 48, and less than 15 percent of our members are under 35. For the sake of our profession's longevity (and our association's viability), it's in our best interest to get out there and network with the "generation next" that will represent today's and tomorrow's REALTORS®.

Thus, we are looking for agents under 40 years of age interested in participating in a focus group at MAAR's office in late August (details to come).

Topics for discussion will include the creation of a professional network, education options, class formats, service needs, and program offerings—all with the younger REALTOR® in mind.

To register or receive more information, please contact Aubray Olson, MAAR Member Services Representative, at aubrayo@mplsrealtor.com. Seating is limited, so if you want to participate, contacting Aubray sooner is better!

2008 Ushers in the eBallot for Board of Directors Election

Ahead of the September MAAR Board of Directors election, we would like to remind you that we are featuring an electronic ballot for the first time this year. If you want a paper ballot, please contact MAAR at 952.933.9020 to request one, and we will assure that you receive your ballot at the mail address specified in your personal account with MAAR.

Accredited Staging Professional (ASP) Series – July 29, 30, and 31

LAST CHANCE TO SIGN UP! It's still a hot addition to your repertoire, it's still one of the elements of a home for sale that can turn a lengthy listing into multiple offers, and we're still offering opportunities to learn how to Stage® at MAAR.

And now prices have been rolled back! The new tuition for the 2-Day Real Estate Agent class is $349. See the flyer below for new pricing, including a $25 discount.

MAAR 2008 Golf Tournament – Beat the Rush

Golf Cheap
The early bird special for the MAAR golf tournament ends Thursday, July 31. Don't miss out on an easy registration discount for this great golfing event.

Make Your Way to the Fairway
Now that we're finally getting some real summer weather, it's time to think about our annual golf tournament on September 8. Sign up early and assure that you'll be part of our popular annual tradition.

Newcomers welcome! | Click here or on the image below for registration and details!

Stance Tips
Play ball far enough away to get full extension. Aim clubface first; then align your body. Keep your head up. Let your arms hang naturally. Elbows should be bent slightly inward at address. Keep your chin up. Maintain minimal knee bend.

Source: Tom's Golf Tips, www.tomsgolftips.com

Next WCR Meeting: Wednesday, August 6

The Women's Council of REALTORS® invites you to attend a dynamic social and business networking event at the trendy VIA CAFE in Edina! There will be delicious free appetizers, drawings for gas gift cards, a cash bar and a chance to mingle with friends and colleagues. Feel free to bring handouts of your current listings or photos of your summer vacation—just be sure you don't miss it! Take a deep breath, pull up a chair and relax. You've earned it!

Date and Time: Wednesday, August 6, 4:00–6:00 p.m.
Location: VIA CAFE, 6740 France Ave, 952.928.9500

Questions about WCR? Visit www.twincitieswcr.org. Or contact Maura Kolars, President, 612.382.5990 or Colleen Schultz, VP of Membership, 952.221.5215.

New Issue of Real Estate Insights Now Available

NAR has released the July 2008 issue of Real Estate Insights (REI). REI is produced by NAR Research and is chock full of timely real estate market research information.

In addition to NAR's economic summaries (pages 4–5), page 8 begins an article on employment trends and pages 10–12 summarize NAR's research on business expenses of REALTORS®.

Real Estate Insights: Web version | PDF version

Source: National Association of REALTORS®

Annual Cost vs. Value: Take the Survey

REALTOR® Magazine, in cooperation with Remodeling magazine, is surveying real estate practitioners for the 2008 Cost vs. Value report. Tell them about the returns that sellers in your market can expect from home remodeling projects, and you'll be entered into a raffle for one of four $500 prizes. take survey

Source: National Association of REALTORS®

The City of Brooklyn Park is having a free Homebuyers' Fair. This event will be an open house and will have door prizes, activities for kids ages 4–12, refreshments, and many displays and information tables.

Date: Wednesday, August 13
Time: 5:00 p.m. – 7:30 p.m.
Location: Brooklyn Park Community Activity Center,
5600 85th Ave N, Brooklyn Park
www.brooklynpark.org/housing

view flyer | view resources

Source: City of Brooklyn Park

CRS 200 Core Course: Business Planning and Marketing – September 10–11
The Southern Twin Cities Association of REALTORS® (STCAR) is hosting CRS 200: Business Planning and Marketing this September. Instructor Pat Zaby will give agents the tools to develop a business plan—which will include income goals and a budget—and to create a marketing plan to meet their personal objectives, resulting in increased productivity and profitability.

STCAR is offering a $25 discount for REALTORS® who register by Friday, August 8, plus this course is approved for 15 hours of Minnesota Real Estate Continuing Education.

Click here for more information about the course, the CRS designation and CRS electives. Contact STCAR Director of Marketing, Breanna Vanstrom, at bvanstrom@stcar.com or 651.452.6611 if you have further questions.

Source: Southern Twin Cities Association of REALTORS®

Americas Real Estate Expo, September 4–6

Through a special rate of $329, NAR members receive 4 days and 3 nights hotel, airport shuttle, social events and meals, and expo registration to Americas Real Estate Expo in Panama City, Panama!

Learn about Central America real estate Americas Real Estate Expo, which will play host to real estate developers, mortgage companies, banks, retirement service plans and life insurance companies from Argentina, Brazil, Ecuador, Costa Rica, Panama, Belize, Bay Islands, Nicaragua, Mexico and the Caribbean. The show brings worldwide buyers, real estate professionals, brokers, investors and financial institutions—all of the services and support for real estate investments and rentals within one venue.

Hotel and expo package includes:

Meet & Greet at airport and transfer by shuttle bus to the hotel
Expo Registration and Pass – September 5 and 6
Entrance to scheduled seminars (reservation required)
Social Events and Meals – Includes welcome cocktail, two lunches, coffee breaks at the convention center & farewell dinner party
Hotel – 4 days and 3 nights at El Panama Hotel and Convention Center

Source: National Association of REALTORS® International

Photos, Videos and Social Networking

Our cover story for the July/August 2008 issue of The REALTOR® focused on how we're offering video features on our website. We also touched on how we've been increasing our social networking opportunities at www.mplsrealtor.com. We have a YouTube presence now, along with Facebook, Flickr and MySpace. And don't worry, folks, we haven't replaced face-to-face interaction with Facebook. We still have plenty of events planned for mainstay groups like the International Council, the Multicultural Network of Real Estate Professionals and Compass Academy.It's all about increasing the techniques for reaching our clients. more

Office Depot – Business AdvantEdge Partner

If you know a member who is not receiving enotes, please forward their email addresses to info@mplsrealtor.com. To unsubscribe, send an email to unsubscribe-enotes@mplsrealtor.com with REMOVE in the subject line. Allow 14 days to process the request. Send replies and news ideas to MAAR's Communications Manager, G. Sax.

© 2008 Minneapolis Area Association of REALTORS®. All rights reserved.