Week of Jan. 5, 2009
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As expected, all activity in the Twin Cities housing market basically flatlined during the week of the Christmas holiday, as consumers and REALTORS® alike took time away from buying and selling homes. For the week ending December 27, there were 550 new listings and 256 pending sales in the entire 13-county Twin Cities region, down 3.2 percent and up 8.9 percent, respectively, from the same week last year. The inventory of houses for sale declined by almost 2,000 units in the past week but should be boosted upwards again in the weeks ahead. This edition of the MAAR Weekly Market Activity Report features an updated January 2009 figure for our Supply-Demand Ratio, which measures the number of houses for sale for each buyer. The January number is 8.36, which is a decline of 19.7 percent from last January's figure of 10.41. Falling supply and recent surges in demand brought about by plunging mortgage rates have reduced the amount of supply relative to demand in recent months.
Click the logo below or click here for this week's full report. Visit Market Info for more research reports.
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2009 Residential Real Estate Summit – Next Week! January 14! The Minnesota Real Estate Journal in conjunction with the Minneapolis Area Association of REALTORS®, St. Paul Area Association of REALTORS®, North Metro REALTORS® Association and Southern Twin Cities Association of REALTORS® are proud to present the 2009 Residential Real Estate Summit. This unique event will provide valuable insight from local and regional industry leaders regarding the current state and future forecast of the residential real estate market. Hear the live release of the official 2008 Twin Cities Housing Market Statistics. Register today!
– 4 Hours of Real Estate/Appraisal CE Credits Have Been Applied For – KEYNOTE SPEAKER OTHER SPEAKERS
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The Ann Brockhouse Scholarship provides a MAAR member with the opportunity to attend this important conference. Airline and hotel expenses are paid for five days and four nights, and MAAR will also provide a stipend. The scholarship will be awarded to a MAAR member who demonstrates a commitment to advancing the real estate industry through education and involvement or potential leadership involvement within MAAR. If you're not feeling like the Ann Brockhouse Scholarship fits you, maybe try a different angle. Because for the second year in a row, we are offering two free scholarships to the 2009 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 on an Emerging Markets Services Scholarship. 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. Application Deadline for Both Applications: January 26, 2009 Click Here to Apply for the Ann Brockhouse Scholarship If you have further questions regarding the application process, please contact Donnie Brown at donnieb@mplsrealtor.com or 952.988.3133.
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December's Monthly Skinny Video Now Available
YouTube version | High-Quality MPG version Please feel free to share this whenever and however you'd like. And don't forget to visit our market insight blog, also called "The Skinny," by clicking here.
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If you have not yet paid your dues, you have until January 6 to prevent membership termination. click here or on the button to get started
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FHA has resurfaced as a keystone financing option in today's marketplace, and a large number of agents have not been trained on how to use and sell FHA products. NAR's FHA Toolkit is a useful tool in this regard. Every REALTOR® who wants to sell more homes will benefit from this material. get started If you have questions regarding FHA programs and policies, contact Jerry Nagy at jnagy@realtors.org or 202.383.1233. Source: National Association of REALTORS®
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Maybe the new year is making reporters more chipper, because the sunshiney writing seems to be spreading. Yahoo! Real Estate picked up a story from USNews.com called "The Top 5 Housing-Market Hopes for 2009." Sources: CNN, Yahoo!, U.S. News & World Report
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Proposed Ordinance | MAAR Time-of-Sale Policy | Article from Minnesota Sun
NAR is concerned about the lack of explanation of, or justification for, the Fannie Mae decision to increase fees and is urging Director Lockhart, in the absence of a compelling justification, to require Fannie Mae to rescind the fee increases and to direct Freddie Mac not to raise its fees. Source: National Association of REALTORS® Letter to Director Lockhart | Fannie Mae Fee Increase Announcement
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If you have not completed the required NAR Code of Ethics training for the 2008 quadrennial by March 1, 2009, MAAR will be required (in accordance with NAR guidelines) to terminate your membership. You can take the course and meet the 2008 Ethics requirement in one of two ways:
We may offer more instructor-led courses before the March 1, 2009 termination deadline, but all such courses are subject to our minimum sign-up requirement. We are at liberty to cancel the course if we have insufficient registrations. The $99 Unlimited CE Education pass will NOT apply towards Code of Ethics classes taken in January or February 2009 to meet the 2008 Quadrennial Code of Ethics requirement. Not sure of your status? If you're not on this list, you need to take the course in order to avoid suspension.
Work on your continuing education anywhere with an Internet connection. All Hondros Learning online CE classes are approved for Minnesota CE credit. Click here to get started; select Real Estate Continuing Education.
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Changing the Face of Housing in Minnesota Annual Event Changing the Face of Housing in Minnesota invites MAAR members to attend its annual event featuring keynote speaker, Bill Strickland, President and CEO of Manchester Bidwell Corporation is a nationally renowned community development and arts education leader. Mr Strickland is currently consulting with groups in North Minneapolis to replicate his successful model here. view flyer This great networking event is free and takes place Tuesday, January 13, 2009 at The O' Shaughnessy at the College of St Catherine, 2004 Randolph Ave, St. Paul, MN 55105. RSVPs are required! To RSVP and for more information, visit the website, www.changingthefaceofhousing.org.
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Women's Council of REALTORS® (WCR) Monthly Meeting: January 14 "No business can succeed in any great degree without being organized." – J.C. Penney WCR's next meeting will be held on Wednesday, January 14 from 11:00 a.m. to 1:00 p.m.
WCR is an organization open to all real estate agents and real estate-related affiliates such as mortgage companies, title companies, etc., both men and women. ALL ARE WELCOME! To reserve your spot at our meeting, contact Tara Buck at tarabuck@realtor.com or 612.730.4739. We hope to see you there! For more information about WCR, check out our local and national websites at www.twincitieswcr.org and www.wcr.org.
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Save the Date: Broker Summit (for Brokers and Managers Only)
On the Undercard: Shift Happens presented by MAAR Research Manager, Jeff Allen
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Important Announcement Affecting All NorthstarMLS Users Changes to Matrix and Home Base Logon Screens for SAFEMLS
Once you have your SAFEMLS token, you will have the option of logging on either the current way or with your SAFEMLS token until March 20 when we switch over exclusively to SAFEMLS logon. Watch for more details on token distribution after the first of the year. If you have questions for NorthstarMLS, call 651.251.5456 or email mlshelp@northstarmls.com. If you have questions for MAAR, contact Aubray Olson at aubrayo@mplsrealtor.com or 952.988.3120. Thank you for your help with this transition. This proven security solution will help protect the valuable asset that is such an important part of our business.
The week of January 12 has been targeted for release. Any additional testing or feedback before that date is appreciated. Source: Regional Multiple Listing Service (RMLS)
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Attend the upcoming InternetCrusade® Technology Workshop featuring the e-PRO® Certification course, the only technology course offered and endorsed by NAR.
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. Click here to sign up or call 1.866.377.0627 (toll free). Next e-PRO® Workshop:
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December 2008 Issue of Real Estate Insights
Real Estate Insights: Web version | PDF version Source: National Association of REALTORS®
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Date and Time: January 19, 2009, 7:00 a.m. Sponsored by UNCF, General Mills Foundation, TPT
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All Expenses Paid at the 2009 NAR Midyear in May
WCR is thrilled to welcome organizational expert Louise Kurzeka, co-founder of Everything's Together and regular guest on HGTV's "TIPical Mary Ellen" television show. Louise is well known around the metropolitan area and is a regular visitor on KARE-11 TV. She is an expert at finding creative ways to get organized and stay organized. Don't miss this chance to learn how to get your ducks in a row! It could be the element of success that your business needs in the New Year!
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