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There's much "change" in the air around the world today. And there is also change happening on the streets of the Twin Cities metro area, as the number of new listings appearing in our Weekly Market Activity Report takes its ascendant year-opening uptick. Despite the increase, new listings for the week ending January 10 have not quite matched the numbers seen at this time period last year (down 7.6 percent), and pending sales are riding a healthy clip above where they were last year (up 19.4 percent) as more homeowners pour back into the market after the year-end transition.
As a summation of how most of 2008 went, total active listings for the year finished down 10 percent from the year before. Time will tell if the flurry of optimism associated with today's presidential inauguration will work its way into the economy, the housing market and, specifically, the Twin Cities housing arena. Hope meets anxiety at the crossroads of 2009.
 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.
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 After two-plus years of a faltering market, a recent upswing in Twin Cities homes sales during the second half of 2008 is cause for some measured optimism heading into 2009. In the Twin Cities 13-county metro area, total pending sales for 2008 ended at 44,067, up 1.2 percent from 2007. This is the first year-over-year increase in pending sales since 2004. There were 38,746 closed home sales in 2008, down only 3.5 percent from 2007.
In the second half of the year, sales picked up momentum and haven't let up since due to tumbling mortgage rates and increased affordability. Since July, there have been 15.7 percent more pending sales than there were during the same time period last year, and the most recent month saw a year-over-year increase of almost 30 percent.
Home prices continued to decline, as expected. The overall 2008 median sales price was $195,000, down 13.3 percent from last year's mark of $225,000.
Reasons for this decline can be found by dissecting two unique segments in today's housing market: lender-mediated and traditional. In 2008, the median sales price of lender-mediated foreclosure and short sale properties was $145,000, a drop of 13.4 percent from 2007. The median sales price for traditional properties was $223,000, which was a much quieter decline of 4.1 percent from last year. In all of 2008, 31.7 percent of closed sales in the region were lender-mediated, up from 10.4 percent in 2007.
The number of new listings on the market during 2008 decreased by 10.9 percent compared to last year, a drop of over 10,000 listings from last year and the lowest showing since 2003. This has helped stem the tide of oversupply our market has been experiencing in recent years.
The number of new foreclosure and short sale listings in the fourth quarter of 2008 was actually 4.3 percent lower than the third quarter, which is the first downward quarterly movement in new lender-mediated listings since 2003. | FULL NEWS RELEASE | CHARTS
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 One of the things members have consistently said they want more from their associations is more say in media portrayal of housing headlines in the media. While we can't necessarily control what the media has to say in their efforts to attract viewers with exclamation points and raised eyebrows, we can offer facts and cooperation with the hope that the message will be read aloud to those who won't read for themselves. We're patting ourselves on the back after last week's real estate summit. We received fair coverage in print and media, accentuated by a couple of WCCO reports.
Source: WCCO-TV
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"The 100+," our community level market tracking tool has been updated with data through December 2008. All real estate is local—even from block to block. "The 100+" was built with this micro-level geographic truism in mind. go there now
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 The January Housing Supply Outlook is now available. Here are a few highlights:
The January Months Supply of Inventory dropped to 7.6—9.3 percent below the same time last year. The lowest months supply can be found in single-family detached properties, which currently sits at 7.0. The highest can be found in condominiums—a hearty 11.4 months of supply is available in that segment.
The lower price ranges continue to see a growing share of market activity. Home sales below $150,000 have more than doubled in the last year, jumping 133.1 percent. The lion's share of homes being sold in these price ranges are lender-mediated foreclosures and short sales (watch for the Q4 2008 report next week!).
As a result of this growing phenomenon, prices continue to soften. The Average Price Per Square Foot over the last twelve months is 14.5 percent lower than the twelve months before that. The largest declines can be seen in single-family detached properties.
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MAAR is pleased to host a successful series of broker monthly meetings on managing your broker business. The broker support meetings are held every second Friday of scheduled months from 9:30 a.m. to 11:00 a.m. at the MAAR office in the Ed Anderson Conference Room. Events are free unless otherwise noted. Register with Linda Stoeckicht at lindas@mplsrealtor.com or 952.988.3157.
February 13: Sales Meeting Topics and Training
We will begin our series this year with topics and ideas for your office meetings combining training and other motivation techniques to get your agents into the office.
March 4: Broker Summit with Key Note Speaker Stefan Swanepoel | see below
You must PRE-REGISTER to attend this event. 9:00 a.m. to 3:00 p.m. Lunch included. Marriott Southwest, Opus Center Minnetonka. Cost: $25.
April 10: Implementing What We Learned at the Summit
A follow-up to the March 4 Broker Summit and will be moderated by Mark Allen, MAAR's CEO.
May 8: Member Appreciation Week
Legal Hotline calls with Don Smith. This is a broker class from 9:00 a.m. to noon that includes 3 hours of CE. YOU MUST PRE-REGISTER to attend. Cost: Free.
June 12: Social Networking, Blogging, Websites
A panel discussion to guide you through the how and why of social media.
September 11: Building Your Team – a workshop Michael & Julie
Whether you are a lone wolf or leading a group of REALTORS®, the team you choose will determine your success. We will discuss the components of a team, outsourcing and your personal board of advisors to add to the value of your practice.
October 9: Selling "Minnesotan" – with Sam Zordich & Julie
Ever notice how Minnesotans love to buy but refuse to be sold? Do you ever receive mixed signals in the Minnesota marketplace? We will help you understand the cultural profile of a typical Minnesotan, including buying behavior and style. Learn how to break the ice and decipher clues Minnesota style!
November 13: Building A Sale-Able Real Estate Business – with Michael & Julie
Typically, independent contractors and real estate brokers do not believe their business is saleable. We will discuss two simple strategies that will help make your business saleable when you are ready.
December 11: Defining Your Direction for 2010 – a workshop with Michael & Julie
Where do you want to position yourself in the marketplace in 2010. This workshop will walk you through the steps to determine your direction, and you will leave with an action plan for 2010.
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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 90 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 3 CE credits will be distributed to all attendees upon completion. Broker Orientation will be available once each quarter beginning March 11, 2009. The Broker orientation 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 Mark Allen, Chief Executive Officer, MAAR.
- 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 and are not required to participate in the new Broker Orientation Program.
Please note – the Broker Orientation Program is an open invitation and made available to all current MAAR Brokers, Office Managers and Office Administrators at no additional cost with 3 hours of CE credit if applicable to the attendee. Please contact MAAR's membership department at 952.933.9020 or donnab@mplsrealtor.com for orientation registration.
Broker Orientation Dates & Time
March 11, 2009, 9:00 a.m. to noon
June 10, 2009, 9:00 a.m. to noon
September 9, 2009, 9:00 a.m. to noon
December 16, 2009, 9:00 a.m. to noon
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 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.
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Who's in Charge of This Thing Anyway?
The simple answer to that question is: You are.
If you want to see the faces of working REALTORS® that are representing your interests in the local real estate community, you can see them all on our Board of Directors page.
With the festivities surrounding the inauguration of a new president this week, we thought it a good time to get you up to speed on who's leading our ship over the next year.
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 City of Bloomington
The city of Bloomington would like to remind all members about the Time-of-Sale Housing Inspection Program. All properties for sale in the city, including single-family, two-family, and multiple dwellings, townhouses, condominiums and mobile homes, are required to have a time-of-sale housing evaluation prior to listing the property for sale, and have a copy of the resulting evaluation report available for review by all potential buyers. view letter to REALTORS® and closers
Source: City of Bloomington
Funding Needed to Protect FHA Soundness
FHA is the crucial player in mortgage finance today for buyers who are in the market for the first time or are struggling to make a large downpayment, NAR says in testimony this week to Congress. The agency's market share is poised to reach 30 percent from just 2 percent in 2006. For the agency to continue its growth without compromising its ability to operate in a safe and sound manner, Congress must give the agency money to modernize and grow its staff.
Source: National Association of REALTORS®
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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. Classes don't begin until March. Additionally, 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. Only 10 percent or fewer of our members still need to complete the 2008 Code of Ethics requirement. If you have not met the NAR Code of Ethics requirement, your membership is now suspended and will be until you notify MAAR that you have completed the training. As a suspended member, you still have access to the NAR website to complete your Code of Ethics training online for FREE. Get it done and get it over with! Complete the training here! To expedite the change from suspended to active status, please forward your proof of course completion to the Education and Professional Development team via fax to 952.908.2612.
If you have not completed the training by March 1, your membership status will change from suspended to terminated (in accordance with NAR guidelines). We currently have a list of those who STILL NEED TO MEET the Ethics requirement on our website.
 Winter Keeping 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").
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The Builders Association of the Twin Cities released their year-end report last week, and the numbers are about what you'd expect to see if you've been following the news regarding new building. The numbers are down all around the Twin Cities and housing activity ended 2008 at a staggering 40 percent below 2007. That's 5,397 units permitted in 2008 compared to 8,961 units permitted in 2007. read full news release
Source: Builders Association of the Twin Cities
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"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! Three speakers, 5 CE credits!
PRINTABLE FLYER | REGISTRATION FORM
 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.
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 MAAR has selected Capella University as an approved education provider. Capella is a regionally accredited university serving more than 23,400 learners worldwide. Capella offers PhD, Master's, and Bachelor's degrees in areas such as human capital management, information technology, higher education, P-12 education, public safety, mental health counseling and health care administration. Capella's online courses are built for academic rigor, engaging discussion, and career relevance.
As a member of MAAR, you are eligible for a 5 percent tuition reduction on Capella University courses. Plus, your prior education, industry certifications, or work experience may qualify for course credits and bring you closer to earning your degree. Additionally, you and your immediate family members are eligible for many other Capella opportunities. Please visit www.capella.edu/maar to learn more about the opportunities below.
2009 New Year's Resolution PhD Grant
Capella is pleased to extend $500 grants to all Capella Alliance Program employees who are seeking a PhD or are starting a program on or before March 9, 2009.
Effective Career Management in a Challenging Economy
This webinar, presented by Mark Gasche, who manages Capella's Career Center, will show you new ways to think and act that foster your professional development. Featured case studies will illustrate strategies to take your professional development to the next level.
Show Me the Money: Developing ROI in People, Projects, and Programs
Receive an introduction to the Phillips ROI Methodology™ by the President and CEO of the acclaimed ROI Institute™. The ROI Methodology has become a standard approach to measuring the success of programs. Dr. Patti Phillips will show you how to develop and use six types of data to support decisions to invest in projects and processes.
Retail Management in Today's World
For people with a passion for service and business, retail management offers a career that is both rewarding and fulfilling. This webinar will provide you with an understanding of the skills needed to be a successful retail manager and some of the career paths available in this field.
Source: Capella University
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 WebForms™ Now Available!
WEBForms™ are now available to all NorthstarMLS subscribers. WEBForms gives you access to online versions of the NorthstarMLS and Minnesota state real estate forms, with auto-pop of fields across forms and from the MLS.
Here's how to get started:
- Access WEBForms in one of two ways:
- Click the WEBForms link in the submenu (right below the tabs) on the Matrix Home/News page.
- From any Property Full Display, click the WEBForms link/icon below the primary photo.
- Create a New Transaction Kit or Template, select your forms and start filling them in.
- Online resources to help you get started:
- Quick Start Guide
- User Guide
- FAQs
- Online Demonstrations (see below for dates and times)
- Click the "Help" link in the upper right corner of the WEBForms screen for these and other Help documents
Need someone to show you how to use WEBForms? Attend an Online Demo!
Online WEBForms demonstrations will be available starting this week. Log on from your office or home to watch a WEBForms trainer show you how to use the application. Each demonstration lasts 45 minutes. There is a limit of 150 lines that can call in per demonstration, so it is asked that you partner up with others in your office if possible. If you try to enter a demo and it's full, try again for another session. More sessions will be added depending on demand.
Click here for instructions on joining a demo session, including phone number and Web address.
Demo Dates/Times
Thursday, January 15, 1:00 p.m.
Thursday, January 15, 3:00 p.m.
Friday, January 16, 1:00 p.m.
Friday, January 16, 3:00 p.m.
Monday, January 19, 11:00 a.m.
Monday, January 19, 3:00 p.m.
Tuesday, January 20, 11:00 a.m.
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.
Tax Data Added to NorthstarMLS from 8 Additional Counties
Blue Earth (Mankato), Kanabec (Mora), McLeod (Hutchinson/Winsted), Meeker (Litchfield), Mille Lacs (Milaca), Nicollet (North Mankato/St. Peter), St. Louis (Duluth/Hibbing) and Wabasha have all been added. This brings our total to 28 counties (25 Minnesota and 3 Wisconsin) where the most complete tax data available is obtained directly from the counties. Open the tax record by clicking the PID Number directly from the Property Full Display for any listing in these counties. Also searchable through the Tax tab.
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
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 About Heading Home Minnesota
Heading Home Minnesota is a statewide initiative to end the cycle of homelessness. The strategy includes Minnesota's Business Plan to End Long-Term Homelessness and regional "Heading Home" initiatives. These initiatives represent innovative, unprecedented, coordinated partnerships with the support of the public, business, nonprofit, faith and philanthropic sectors. This forum will provide an overview of the statewide progress of Heading Home Minnesota and specific work through the Hennepin and Ramsey County plans. For more information about Heading Home Minnesota and regional plans, visit www.headinghomeminnesota.org.
Event: Heading Home Minnesota
Date: Friday, January 30, 2009
Time: Noon – 1:30 p.m.
Location: Hanson Hall, Room 1-106
1925 4th St S, Univ. of Minnesota, West Bank
Presenting Speakers:
Matthew Ayres, Heading Home Hennepin
Kit Hadley, Heading Home Minnesota
Laura Kadwell, Minnesota Business Plan
Carol Zierman, Heading Home Ramsey
RSVP required by January 29 to Leah Gardner at 612.625.2086 or curahf@umn.edu.
CURA Housing Forums are free of charge and open to the public. To sign up for CURA Housing Forum notices, visit www.cura.umn.edu or email your request to curahf@umn.edu.
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 The Fix Housing First Coalition is a diverse group of housing stakeholders—including homeowner and community groups, home builders and manufacturers—dedicated to addressing the root cause of our economic troubles. The coalition is advocating for a short-term incentive for qualified home buyers that would stop the fall in home values, restore consumer confidence, create jobs and lift our entire economy. For more information, visit www.fixhousingfirst.com.
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Attend the next 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).
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Designing and Building Affordable Sustainable Housing Throughout the Twin Cities Region
Presenting an important keynote presentation and panel discussion on rethinking housing in our region. The current regional and national economic challenges require us to rethink how we can deliver affordable and sustainable housing for the region now and in the future. It's time to examine the assumptions and terms under which we have all been operating for the last 40 years. The presentation will help reimagine how to:
- Re-examine notions about housing design, finance, regulation, and implementation.
- Look at the design of living environments and how they can be connected to supportive physical, social, and natural environments and linked to civic and economic systems.
- Explore new ways for developers, funders, designers, city officials, and community residents to work together.
RSVPs ARE REQUIRED and SPACE IS LIMITED. Registration and event details are at www.fhfund.org.
Event: "Rethinking Housing: Designing and Building Affordable,
Sustainable Housing Throughout the Twin Cities Region"
Date and Time: Monday, February 9, 2:00–4:00 p.m.
Location: Dorsey & Whitney LLP, Minnesota Room, Suite 1500
50 S 6th St, Minneapolis, MN 55402
Source: Family Housing Fund
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