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 Did you find your "ain true love" on Saturday night? Or were you out there showing houses and adding to the already sizable gains in pending sales seen in the Weekly Market Activity Report? Either way, it appears that more Twin Cities home buyers are finding their hearts' desire as we enter the second month of 2009.
New listings continue their seasonal upward movement, with 1,780 homes for the week ending February 7. This is a 16.2 percent decrease from the same week last year—an ongoing good news trend for an oversupplied market. For the same time period, there were 745 pending sales, an increase of 17.5 percent compared to last year at this time. Sales have increased more steadily than new listings so far this year, which has helped reign in our Months Supply of Inventory to a healthier 7.7 months—down 13.5 percent from last year.
Active listings for sale continue to trail year-over-year numbers. There are currently 25,537 homes for sale, a 12.4 percent decrease from last year. Thankfully, increasing affordability means that a healthier share of these homes should find true romance with a buyer than in previous years.
Click the logo below or click here for this week's full report. Visit Market Info for more research reports.
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 SAFEMLS®: It's Time to Get Ready!
Implementation of the SAFEMLS® security system is upon us. Scheduled deployment times for all NorthstarMLS subscribers is February 20–March 20. The goal is to make this transition as easy as possible on all subscribers.
CLICK HERE or see below to view deployment dates, times and locations for MAAR members to pick up their SAFEMLS token:
 Important: You must personally pick up your SAFEMLS® token and show a photo ID. If you cannot make your scheduled day and time, please select a different location and day, but be aware that you may experience longer wait times. It is NOT necessary to contact MAAR or RMLS to reschedule. There will be make-up times scheduled and posted after March 9.
There is NO COST to any member who has paid 2009 annual dues. You must be an active member to receive a token. During this transition time, you may continue to use your old password or your new SAFEMLS® token.
March 20: Final SAFEMLS® cutover date. Your old MLS password will not work after this date. You must begin using the new SAFEMLS® security system.
Far too many people (consumers, nonsubscriber real estate licensees, businesses, etc.) are gaining unauthorized access to your MLS data, thus the reason for this new security measure. | VIEW ALL PAST SAFEMLS COMMUNICATIONS
Tuesday, February 17: Marriott Minneapolis SW, 5801 Opus Parkway, Minnetonka
9:00 a.m. A – D
10:30 a.m. E – I
Noon J – M
1:30 p.m. N – 0
3:00 p.m. S – Z
Monday, February 23: Marriott Minneapolis SW, 5801 Opus Pkwy, Minnetonka
9:00 a.m. A – D
10:30 a.m. E – I
Noon J – M
1:30 p.m. N – R
3:00 p.m. S – Z
Monday, March 2: Earle Brown Heritage Center, 6155 Earle Brown Dr, Brooklyn Center
9:00 a.m. A – D
10:30 a.m. E – I
Noon J – M
1:30 p.m. N – R
3:00 p.m. S – Z
Tuesday, March 3: Earle Brown Heritage Center, 6155 Earle Brown Dr, Brooklyn Center
9:00 a.m. A – D
10:30 a.m. E – I
Noon J – M
1:30 p.m. N – R
3:00 p.m. S – Z
Wednesday, March 11: Marriott Minneapolis SW, 5801 Opus Pkwy, Minnetonka
9:00 a.m. A – D
10:30 a.m. E – I
Noon J – M
1:30 p.m. N – R
3:00 p.m. S – Z
Source: NorthstarMLS
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 We released our monthly stats news release last week. Here's what we said:
Low mortgage rates and an ample supply of affordable properties kept January home sales strong despite a month of harsh weather.
Pending sales during the month posted a figure of 2,827, an increase of 10.3 percent from last January. This is the eighth consecutive month of year-over-year increase. Closed sales saw an increase of 2.1 percent in January, posting 2,010 units. A growing share of this jump in buyer demand can be found in lender-mediated foreclosures and short sales.
The overall January median sales price of $155,000 is 24.4 percent and a $50,000 lower than last January's mark of $205,000. However, a staggering 59.9 percent of closed sales in January were from the lender-mediated segment, which had a dramatic downward effect on the overall median sales price.
Traditional properties, which exclude foreclosures and short sales, had a January median sales price of $215,000, down 4.3 percent from last year, while lender-mediated homes had a median sales price of $122,000, down 21.4 percent for the same year-over-year comparison.
Housing affordability also tells a tale of two markets. Lender-mediated properties currently have a Housing Affordability Index (HAI) of an astounding 245, while traditional properties have an HAI of 154, a mark last seen in 2004. The overall HAI jumped another 10 points in the last month, and currently sits at 202. This means that the current median family income is 202 percent of what's necessary to qualify for the median-priced home. This is a new record and up 35.6 percent from last year.
Housing supply continues to draw down. There are almost 3,000 fewer houses for sale than there were one year ago, and new listings in January were 15.7 percent lower than in 2008.
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"The 100+," our community level market tracking tool has been updated with data through January 2009. All real estate is local—even from block to block. "The 100+" was built with this micro-level geographic truism in mind. | GO TO THERE
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 The February Housing Supply Outlook just hit the Internets. Here's a quick breakdown of some key trends to watch:
Compared to one year ago, the Months Supply of Inventory continues its steady decline. The February number is 7.7 months, down a healthy 13.8 percent from last February. Increased buyer demand for foreclosures and short sales has been a crucial stimulant to bringing our oversupply problem down in the last year.
Condominium sales continue to look anemic. Compared to one year ago, sales are down 22.9 percent overall, and down 44.8 percent in the new construction category. The number of condos for sale has also declined, but not enough to reign in the months supply from rising to 11.8 months, up 16.6 percent from last year.
The price ranges above $500,000 are the only ranges where months supply is increasing. Sales in these segments have dropped at a faster rate in the last year than the inventory of homes for sale.
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MAAR's rickety old newsletter has received a facelift. The REALTOR® is now in a magazine format and will be published quarterly. The Spring 2009 issue features three publications in one:
- Spring 2009 issue of The REALTORŪ
- 2008 Residential Real Estate Activity Report
- The Source: 2009 MAAR Education and Professional Development catalog
VIEW THE MAGAZINE
(at least the first 22 pages of it)
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Our annual publication is bursting with research and analysis for the Minneapolis–St. Paul metropolitan area housing market. We know you've been waiting patiently for it.
- More maps
- Better charts
- Organized tables
- Quick analysis
VIEW THE REPORT
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 "Rally in the Rotunda"
Date: Thursday, March 19, 2009
Location: Crowne Plaza Hotel - 11 Kellogg Blvd, St. Paul & The State Capitol
Cost: $50 in advance, $65 at the door
It's back to the basics this year! With so many issues to be covered, it's time to get back to the Capitol to have our voices heard. If you or your business are affected by foreclosures, land use reforms, mortgage registry and deed tax issues, or sales tax on services—just to name a few—you may want to join REALTORS® from around the state at Legislative Impact Day!
The day will begin at the Crowne Plaza Hotel for a 2-hour Legislative Update from the MNAR Staff. Then REALTORS® will bus up to the Capitol for a "Rally in the Rotunda" and a visit with legislators. Then it's back to the Crowne Plaza for a Debriefing Reception.
LID Schedule of Events
9:30 am: Arrival, check-in, coffee & rolls – Crowne Plaza Hotel, 11 Kellogg Blvd, St. Paul (carpooling encouraged)
10:00 a.m.–Noon – 2009 Legislative Update (2.0 hours of CE pending) presented by:
Chris Galler, Chief Operating Officer, MNAR
Christine Berger, Vice President of Governmental and Regulatory Affairs, MNAR
Heather VanValkenburg, Director of Governmental Affairs, MNAR
Noon–1:00 p.m. – Lunch on your own & buses to the Capitol
1:00-2:00 p.m. – Rally in the Rotunda – Legislative leaders & the Governor are invited
2:00-3:00 p.m. – Visit with Legislators
3:00-4:00 p.m. – Buses back to the Crowne Plaza Hotel
4:00-4:30 p.m. – Reception & Capitol Debriefing
To register for this event, go to www.mnrealtor.com. You will need to know your NRDS number to register. Advance registration is required. Walk-ins will be taken on a "space available" basis. Registration includes 2.0 hours of CE (pending), morning coffee and rolls, buses to the Capitol, reception with appetizers and cash bar.
Contact Carrie Andersen at candersen@mnrealtor.com with further questions.
Source: Minnesota Association of REALTORS®
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Minneapolis
Minneapolis has a relatively new rental licensing ordinance and has just enacted stricter procedures for obtaining a rental license. In a nutshell, when there is a change in ownership, the buyer will need to complete all the RR items before applying for a rental license, or show that the seller completed the RRs. Either the COA (certificate of approval, for sellers) or the COC (certificate of completion, for buyers) must be attached to the rental license application (for properties requiring a TISH).
Properties sold without a TISH will not be able to get a rental license until a TISH report is done and the RRs are completed. So it is very important that agents make sure that the TISH is done before the sale. In other words, they just need to follow the rules. | MORE
Source: City of Minneapolis
Brooklyn Center
Brooklyn Center updated their website with more information on both the grants and the vacant building ordinances. Note: The ordinance for vacant buildings in now in effect.
Source: City of Brooklyn Center
American Recovery and Reinvestment Act of 2009
H.R. 1, the "American Recovery and Reinvestment Act of 2009," passed the House on Friday, February 13 by a vote of 246–184. The Senate also passed the bill later that day. The President is expected to sign the bill. The bill is a $780 billion package, with roughly 35 package of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010. | MORE
Source: National Association of REALTORS®
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 The Source
The 2009 course catalog, The Source, is finished and available online! A copy will be arriving in the mail shortly in/as part of the Spring 2009 issue of The REALTOR®. New to the catalog this year is a page listing our fabulous instructors and the courses they teach. We even have a page highlighting our various online courses. We are offering over 75 CE credits in new classes with more on the way!
Spring classes are now listed at www.mplsrealtor.com which is always the best place to go for class information. You can also check the course schedule, sign up for classes, and even print your own receipts online. It’s the simplest way to go. We will be adding classes throughout the year, so watch enotes and check the website for updates.
 Unlimited CE PASS
This year you can purchase our Unlimited CE Pass* for $99. The pass allows you to take an unlimited number of classes during 2009. 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. Sign into IMS and purchase it online or call the EPD team at 952.908.2602 to purchase your Unlimited CE Pass*. Please note: After purchasing your $99 Unlimited CE Pass, you will need to wait until approximately 9:00 a.m. of the next business day to be able to use your pass for online registration.
* The only exceptions are NAR designation courses, online classes and MAAR special events.
 Work on Your CE Requirements Online From Home!
Why wait 'til March to take classes? Many members are taking advantage of our online classes. Save gas money and reduce your drive time. 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").
 Do You Still Need to Take Your Code of Ethics?
We still have a few members that need to complete the NAR Code of Ethics requirement. If this is you, 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. 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.
Last chance before termination! We will be hosting an instructor-led Code of Ethics course on Friday, February 27 from 1:00 p.m. to 3:30 p.m. for anyone still needing to meet the 2008 Code of Ethics requirement. Call the EPD team at 952.908.2602 to register. Cost is $60 for 2.5 CE credits.
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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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 The Unraveling of the American Dream: Foreclosures in the Immigrant Community of Minneapolis
Date: Friday, February 20, 2009
Time: Noon – 1:30 p.m.
Location: Carlson School of Management,
Honeywell Auditorium, Room L-110, University of MN, West Bank
Presenting Speaker: Ryan Allen, Assistant Professor, Humphrey Institute
Program: Immigrant households represent an increasingly important component of new homeowners in Minneapolis, but we know little about how the foreclosure crisis has affected them. Using data from the Hennepin County Sheriff's Office and the Minneapolis Public Schools, Ryan Allen has identified which foreclosed properties between the years 2006 and 2008 were inhabited by immigrant households. Research results suggest that immigrant homeowners have been disproportionately affected by foreclosures in Minneapolis. This forum will highlight the research findings of this project and consider the implications of these findings on future foreclosure prevention strategies.
RSVP required by February 18 to 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.
Source: Center for Urban and Regional Affairs
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 Visit with representatives from more than 100 nonprofit organizations and find the perfect fit for you or your group. Discover opportunities to give as little as two hours or as much as two years. You'll find it all at the Volunteer Expo.
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 Celebrate Mardi Gras with the Women's Council of REALTORS® (WCR)! Join WCR for a social networking event with your colleagues in real estate and real estate affiliates. There will be free appetizers, drawings for great prizes, cash bar and plenty of time to mingle with old (and new) friends!
 Date: Tuesday, February 24, 2009
Time: 4:00 p.m. to 6:00 p.m.
Location: Via Café
6740 France Avenue, Edina, MN 55435
WCR is an organization open to all real estate agents and real estate-related affiliates such as mortgage companies, title companies, stagers, etc. ALL ARE WELCOME—both women and men. Feel free to invite others, too! For questions about this event or WCR, contact Tara Buck at tarabuck@realtor.com or 612.730.4739. You can also find out more about WCR at www.wcr.org and www.twincitieswcr.org.
Source: Women's Council of REALTORS®
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Finance and Commerce's "40 Minnesotans on the Move" will be part of a special publication planned for the end of April that will commemorate Finance & Commerce's 120th anniversary. The magazine will mark this milestone with three components:
1) A recap of the 40 most significant, historic, and interesting business-related news stories to emerge from Minnesota over the past 120 years
2) A look at 40 Minnesota businesses that have put the state on the national and international map, and how they got there
3) Short profiles of 40 current Minnesotans who are poised to make business history of their own during the coming years
Finance and Commerce is now taking nominations of individuals you feel belong in that select company. To determine their 40 honorees, they will be looking for people who:
- Have established a distinctive presence in their industry
- Have brought innovation, creativity or some kind of dramatic change to a Minnesota-based business.
- Have a track record of being recognized by their peers and colleagues for their work.
- Have demonstrated the potential to bring a growing influence to their business in years to come
Nominations need to be received no later than February 23, 2009.
Note: You may need to hit "Cancel" several times if prompted to enter a password. You will eventually get through to the nomination form. Contact Jeanne Reiland at jeanne.reiland@finance-commerce.com or 612.584.1535 for further information.
Source: Finance and Commerce
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Date: Thursday, April 17, 2009
Location: Golden Valley Country Club
7001 Golden Valley Rd, Golden Valley, MN 55427
Cost: $99 ($139 Day of Event)
7:15 a.m. (registration)
7:30 a.m. (continental buffet)
8:00 a.m. - Noon (program)
Topics include:
- What Lenders Are Doing With Distressed And Underperforming Properties And Loans
- Buying Distressed And Non-performing Properties And Paper
- Property Due Diligence And Inspections
- Legal Strategies And Considerations For Distressed And Foreclosed Projects
- Evaluating Partially Completed Construction, Land And Empty Buildings
Source: Real Estate Communications Group; Minnesota Real Estate Journal
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As of January 1, 2009, all new applicants for Broker and Designated REALTOR® membership are required to participate in a 3-hour Broker Orientation Program within 90 days of application. All membership services will be terminated for new brokers/designated brokers who fail to complete the program within 6 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. 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. | READ MORE
Note: the Broker Orientation Program is open invite and 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 registration.
Next Orientation Opportunity
March 11, 2009, 9:00 a.m. to noon
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