|
The New Year rang in with the normal post-holiday increase in new listings, but listings are still down from the same week last year. Pending sales for the week ending January 3 showed a strong increase during the year-end transition, rising nearly 40 percent compared to last year. Over the last three months of the year, pending sales were 18 percent higher than last year. Local housing inventory has reached its annual low point but looks to rebound in the opening months of 2009.
This week's edition of the MAAR Weekly Market Activity Report features updated figures from several important metrics:
- In December, Days on Market Until Sale dropped 6.3 percent compared to last year. The market appears to have reached a plateau in the amount of time needed to sell a house, and this welcome decline certainly could continue into the next year.
- Percent of Original List Price Received at Sale closed at 90.0 in December, 1.3 percent lower than last year.
- The new Housing Affordability Index (HAI) for January is extremely positive. Last month we stated that the HAI of 180 was the highest we had ever recorded. Now it's even higher, jumping an additional 12 points to 192. The rise reflects the help that interest rates and softer prices have given to the market. (Note: The decline in prices is driven by the significant amount of lender-mediated home sales and its benefit is not equal to all buyers.)
 The Weekly Market Activity Report is sponsored by the largest real estate commission advance company in the U.S., Commission Express.
Click the logo below or click here for this week's full report. Visit Market Info for more research reports.
TOP
|
|
 The office will be closed on January 19 to recognize Martin Luther King, Jr. Day. Instead of coming in to buy signs or take part in a task force meeting, consider attending a special breakfast featuring General Colin L. Powell at the Minneapolis Convention Center. | SEE BELOW
TOP
|
|
Register at the Special $99 Rate Today ($139 Day of Event).
Online Registration Closes at Noon on Tuesday, January 13.
REGISTER ONLINE FOR $99 OR CALL 952.405.7785!
The Minnesota Real Estate Journal and the four local REALTOR® associations 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. We will also be releasing the official 2008 Twin Cities housing market statistics live.
Date: Wednesday, January 14, 2009
Time: 7:15 a.m. (registration and continental breakfast), 8:00 a.m. – noon (general session)
Location: Earle Brown Heritage Center, 6155 Earle Brown Dr, Brooklyn Center, MN 55430
Cost: $99, $139 Day of Event | click here for event details and registration
– 4 Hours of Real Estate/Appraisal CE Credits Have Been Applied For –
KEYNOTE SPEAKER
Tobias Madden, Regional Economist, Federal Reserve Bank of Minneapolis
OTHER SPEAKERS
Thomas Alexander, Larkin Hoffman Daly & Lindgren Ltd.
Jon Aune, Lennar
Dan Bartholomay, Minnesota Housing Finance Agency
Peter Coyle, Larkin Hoffman Daly & Lindgren Ltd.
Phillip Creglow, National Association of REALTORS®
Bob Day, North Metro REALTORS® Association
Michael DeVoe, The Ryland Group
Christopher Galler, Minnesota Association of REALTORS®
William Griffith, Larkin Hoffman Daly & Lindgren Ltd.
Tom Gump, Neighborhood Development Partners, LLC
Steve Havig, Minneapolis Area Association of REALTORS®
Jeanne Kadrlik, US Department of Veterans Affairs
Rae Jean Malone, St. Paul Area Association of REALTORS®
Tony Maurer, Southern Twin Cities Association of REALTORS®
Tom Musil, University of St. Thomas
Michael Noonan, Rottlund Homes
Anita Olson, US Deparment of Housing and Urban Development
Art Plante, K. Hovnanian Homes
Alex Stenback, Residential Mortgage Group
Gary Van Cleve, Larkin Hoffman Daly & Lindgren Ltd.
Keith White, Marketplace Home Mortgage LLC
TOP
|
|
 All Expenses Paid at the 2009 NAR Midyear in May
The 2009 NAR Midyear Meetings and Conference in Washington, DC, May 12–16, 2009, offers an opportunity for REALTORS® to touch base with their elected leaders while at the same time attending high-impact meetings that will pave a pathway to the future of the industry.
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.
If you have further questions regarding the application process, please contact Donnie Brown at donnieb@mplsrealtor.com or 952.988.3133.
TOP
|
|
Your 2009 MAAR President, Steve Havig, spent some quality time doing in-studio and at-the-office interviews with reporters from WCCO-TV on Sunday morning. The in-studio was a promotional spot for the Residential Real Estate Summit with some basic questions from Esme Murphy about the state of today's market and the availability of money for home purchases. The second story was more geared toward lending and also featured an interview with lender, Jackson Cussons, in Steve Havig's Uptown Minneapolis office. Click the images below to watch the videos.
TOP
 |
|
We realize that many of you are looking ahead to 2009 with great uncertainty. We want to assure you that NAR is working hard to address challenges and create an environment where you can succeed.
In fact, we just posted a new President's Podcast with insights on what we are doing in Washington, DC, to jump-start housing, along with a preview of some new programs and initiatives that we are launching in the weeks ahead. Listen to podcast.
In addition to the items highlighted in the podcast, on January 12, NAR will launch our new Public Awareness Campaign Ads. In light of the current economic conditions, the new ads will focus on motivating buyers to re-enter the market and emphasize the value of homeownership. The ads will run more than 10,000 times on national TV and radio through November 2009. For a sneak preview, visit the campaign website.
These are just some of the ways NAR is working to give you the information you need to compete in the current economic environment. In 2009, we resolve to give you more information and resources than ever before. Please visit "NAR HelpsYou," and check the home page of often for updates, and let us know what you think.
We look forward to working with all of you to jump start the economy and move our industry and our businesses, "United Toward Tomorrow."
Sincerely,
Charles McMillan, CIPS, GRI
2009 NAR President
Dale Stinton
NAR Chief Executive Officer
Source: National Association of REALTORS®
TOP
|
|
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®
TOP
|
|
NAR's Center for REALTOR® Technology has released some interesting data from a survey about smartphones. In addition to noting the brands preferred by REALTORS®, 37% of survey participants plan on purchasing or replacing a smartphone in the next year. Check out the study – with lots of great graphs!
Source: National Association of REALTORS®, Center for REALTOR® Technology
TOP
|
|
 Robbinsdale Moving Forward with Point-of-Sale Inspection Ordinance
The Robbinsdale city council has given preliminary approval to a proposed point-of-sale inspection ordinance when a residential property is offered for sale. Council and staff are discussing the proposal now and may bring the ordinance back to the council for final reading and approval at the January 20 city council meeting. MAAR does not believe that point-of-sale ordinances are the best way to improve a city's housing. Only a small percentage of properties are for sale at any time. Most problem properties are not for sale. Many buyers hire independent housing evaluators to complete a thorough home inspection, often with the buyer present when the inspector is conducting the inspection in the property. Rather than impose a point-of-sale ordinance, MAAR believes that cities should market themselves as good places to live. This can be accomplished with housing fairs, citywide open houses and financial assistance to encourage buyers to move into their city.
REALTOR® Action Center
Grassroots activists made an impact on Capitol Hill by sending more than 330,000 letters to Congress in support of NAR's Four-Point Plan. NAR is working to ensure that the right housing stimulus measures will be included in any upcoming legislation being considered by Congress and the new administration. Please stay engaged as this will be our first chance as a national entity to reach many new members of Congress and educate them on the need for critical housing measures.
Source: National Association of REALTORS®
TOP
|
|
New in '09 – Unlimited CE for $99!
The Education and Professional Development (EPD) team is excited to announce a way to make earning your CE less expensive. For $99, you can purchase our Unlimited CE Pass* which allows you to take an unlimited number of classes during 2009. That's right, you can take as many classes as you want! In addition, you will receive the following benefits:
- 10% discount on NAR courses (ABR, Green Designation, etc.)
- First notice of new courses as they are announced through the year
- Periodic discounts on MAAR store items
- And more!
You can purchase the $99 Unlimited CE Pass* at any time during the year. But those who purchase one by March 1 will be entered into a drawing for a $100 gas card. Call the EPD team at 952.908.2602 to purchase your Unlimited CE Pass*.
* The only exceptions are NAR designation courses and online classes.
You Have the Unlimited CE Pass, Now Where Are the Classes?
The 2009 course catalog, The Source, is currently under production and will be mailed to you in/as part of the Spring 2009 issue of The REALTOR®. We understand that you are eager to see what the course schedule will be (and you ought to be—we are adding 75+ CE credits in new classes!), but please be patient. To reduce costs and be good stewards of our members' dues dollars, we now only mail out one catalog per year. If you simply cannot wait, check our website at the end of January. Classes should be posted by then.
 Do You Still Need to Take Your Code of Ethics?
While our members made heroic efforts to complete the Code of Ethics by the December 31, 2008 deadline, we are still not at 100 percent compliance. If you have not met the NAR Code of Ethics requirement, your membership is now suspended and will be until you complete the training. As a suspended member, you still have access to the NAR website to complete your Code of Ethics training. Get it done and get it over with! Complete the training here!
If you have not completed the training by March 1, your membership status will change from suspended to terminated (in accordance with NAR guidelines). Our list of those who HAVE MET the Ethics requirement will be updated on Friday. You can check your name against the most recent list until then.
 Snow Got You Stuck Indoors? Work on
Your CE Requirements Online From Home!
A number of our members are taking advantage of our online classes. Save gas money and reduce your risk of getting stuck in a snowbank. Earn continuing education credits in the comfort of your own home at hours convenient to you. Work on your continuing education anywhere with an Internet connection.
All Hondros Learning online courses are approved for Minnesota CE credit.
Click here to get started (select "Real Estate Continuing Education").
TOP
|
|
TOP
|
|
"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.
- 11:00 to 11:30 – networking
- 11:30 to 12:00 – lunch
- 12:00 to 1:00 – program
 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!
 Feel free to pass this invitation on to others! Bring a guest! The WCR meeting includes lunch and program afterward. Cost is $20 for WCR members and $30 for nonmembers. You can join at the meeting.
Date: Wednesday, January 14
Time: 11:00 a.m. to 1:00 p.m.
Location: Southern Twin Cities Association of REALTORS®
Address: 4490 Erin Dr, Eagan, MN 55122
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.
TOP
|
|
The Business Journal is seeking nominations for its annual Women In Business project. Editors will feature 25 "Women to Watch" who are on the rise in the Twin Cities' corporate or entrepreneurial scenes. Nominees should have impressive professional track records, leadership qualities, potential and a lot of drive.
 The honorees will be featured in the May 22 issue of the Business Journal and will be recognized at a high-profile luncheon on May 21. Nominations are due by midnight, Friday, February 6. Nominate a REALTOR® today! | START HERE
TOP
|
|
 "Never Ending Change – Be Aware! Be Prepared!"
More than 3,000 industry leaders and thousands of additional REALTORS® rely on the annual Trends Report to give them a clear vision of how to operate their businesses going forward. Learn about the top 10 business trends in real estate—live and in person with Stefan Swanepoel! The 2009 Trends Report will be available for purchase at the event, and Stefan will be available for book signing.
Date: March 4, 2009
Time: 9:00 a.m. – 3:00 p.m.
Location: Marriott Southwest
Cost: Only $25.00!
REGISTER | Three speakers, 5 CE credits!
On the Undercard:
The State of the Real Estate presented by MAAR CEO, Mark Allen
A local and national outlook of market indicators, the role of the progressive REALTOR® and how the industry is responding to today's consumer options. Answering the what and where of a changing housing market.
Shift Happens presented by MAAR Research Manager, Jeff Allen
Local market statistics and how to work with the tools by which we track them. Answering the how and why of residential real estate, from the history of the boom and the reasons for the bust.
TOP
|
|
 WebForms™ Arrives Wednesday, January 14
Last November, NorthstarMLS announced that WEBForms™ was coming online as a core service for all subscribers (included in your MLS fees). After two months of testing and fine tuning, it's ready for release and will be available to you on Wednesday, January 14. WEBForms gives you access to online versions of NorthstarMLS and Minnesota state real estate forms. Features:
- Automatically populates MLS and membership information into your transaction
- Data flows automatically between forms in a transaction
- Always the most recent versions of forms
- Email forms to clients for signing
- No added software, upgrades or downloads required (except free Adobe® Reader®)
- Straightforward and easy to use
- Included in your MLS fees at no additional charge!
If you would like to learn more before Wednesday's launch, check out the FAQ.
WEBForms™ Monthly Newsletter
Each month, WEBForms™ publishes a newsletter with information and helpful tips. It will be linked from the Matrix News screen each month. When WEBForms launches on Wednesday, you will also have the option to subscribe to it so that it's delivered to your email inbox every month. Check out the January 2009 issue now.
NorthstarMLS Scores High on Annual Service Quality Survey
The annual Service Quality survey was mailed to 1,200 NorthstarMLS users in the fall, and the response rate was a whopping 48.3%. Respondents gave NorthstarMLS an overall favorable rating, with 86% rating them either 4 or 5 on a 5-point scale as "meeting your professional real estate needs." On an overall measure of satisfaction with the services provided by NorthstarMLS, 87% gave a 4 or 5 rating. This is an improvement from 82% in the 2007 survey. | MORE
Source: NorthstarMLS
TOP
|
|
Attend the upcoming InternetCrusade® Technology Workshop featuring the e-PRO® Certification course, the only technology course offered and endorsed by NAR.
- 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.
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).
TOP
|
|
Effective January 1, 2009, all new applicants for Broker and Designated REALTOR® membership will be required to participate in a three-hour Broker Orientation Program within 180 days of application, as a part of MAAR's broker membership application process. All membership services will be terminated for new brokers/designated brokers who fail to complete their Broker Orientation Program within six months of application.
There is no cost for the Broker Orientation Program, and the first one will be March 11, 2009, with 3 CEs available for free! The Broker Orientation Program will review:
- MAAR broker resources, including broker support meetings, broker-specific education, and local and national benefits.
- Professionalism within the industry.
- An update on the State of the Real Estate Market presented by MAAR CEO, Mark Allen.
- Broker's responsibilities as a member of MAAR, including policy, procedures, fees, and local and national training requirements.
Broker and Designated REALTORS® who became members prior to January 1, 2009 are grandfathered in and are not required to participate in the new Broker Orientation Program.
The Broker Orientation Program has an open invitation policy and is made available to all current MAAR brokers, office managers and office administrators at no additional cost with 2 hours of CE credit if applicable to the attendee. Please contact MAAR's Membership Department at 952.933.9020 or email donnab@mplsrealtor.com for orientation registration.
TOP
|
|
  Because of His Dream, I Can...Lead, Grow, Inspire.
The General Mills Foundation and UNCF are pleased to present the 19th Annual Dr. Martin Luther King, Jr. Holiday Breakfast. The annual holiday breakfast is an opportunity to celebrate the life and legacy of the man and movement that not only changed civil rights laws for all Americans but set in motion the drive for human rights reform worldwide. MAAR encourages members to participate:
Date and Time: January 19, 2009, 7:00 a.m.
Location: Mpls. Convention Center, Ballroom A
1301 Second Ave S, Minneapolis, MN
Keynote: General Colin L. Powell
Ticket Price: $30.00 per person
MORE INFO | REGISTER
Sponsored by UNCF, General Mills Foundation, TPT
TOP
|
|
