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 One. That's the number of times over the last 33 weeks that we've had fewer pending sales this year than we did a year ago. And the week in question was Thanksgiving—a week where making an offer on a home is typically ignored in favor of turkey and afternoon naps during another loss by the Detroit Lions.
The buying party continued for the week ending February 14, as there were 731 pending sales in the Twin Cities—up 17.1 percent. Over the last three months, there have been almost 1,200 more pending sales than there were last year. During this time period, 60.3 percent of sales were lender-mediated foreclosures or short sales.
Increased sales means increased absorption of inventory means less houses for sale. There are approximately 4,000 fewer houses for sale right now than there were at this time last year, a drop of nearly 14 percent. New listings remain sluggish as well. The most recent reporting week saw a 9.5 percent year-over-year drop.
Click the logo below or click here for this week's full report. Visit Market Info for more research reports.
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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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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. View deployment dates, times and locations for MAAR members to pick up their SAFEMLS token:
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
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
JUST ADDED!
Thursday, March 5: Hutchinson Event Center, 1005 Hwy 15 S, Hutchinson, MN 55350
9:30 a.m. A – Z
10:15 a.m. A – Z
11:00 a.m. A – 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
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.
Source: NorthstarMLS
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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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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 REALTOR®
- 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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 Celebrate St. Patrick's Day a wee bit early with MAAR and get the real scoop on Irish traditions, culture and the real estate industry in Ireland.
Date and Time: March 12, 6 p.m. – 9 p.m.
Location: Kieran's Irish Pub, Titanic Lounge,
330 2nd Ave S, Minneapolis, MN 55401
Cost: $25.00 includes delicious Irish fare and an expert speaker. Cash bar also available.
Space is limited so register early! Register online at www.mplsrealtor.com or contact Amy Ransom at amyr@mplsrealtor.com or 952.988.3124.
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The American Recovery and Reinvestment Act (ARRA), which was signed into law on Tuesday, February 17, increased the maximum conforming loan limit for mortgages originated in 2009. The increase affects 250 counties across the U.S., none of them in Minnesota. The levels for the entire state of Minnesota are as follows:
One-Unit Limit = $417,000
Two-Unit Limit = $533,850
Three-Unit Limit = $645,300
Four-Unit Limit = $801,950
Conforming loan limits for 2009 were originally announced in late 2008 and had been calculated under terms set forth in the Housing and Economic Recovery Act of 2008 (HERA), passed in July 2008. The new ARRA legislation stipulates that, for loans originated in 2009, the loan limit is to be the higher of the 2008 limits and those originally calculated for 2009 under HERA. Where the 2008 and 2009 limits differ, the 2008 limits tend to be higher and thus, in most cases, loan limits are reverting back to last year's levels. | MORE
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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
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 begins at the Crowne Plaza Hotel for a 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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Brooklyn Center
 The city will soon launch three new housing programs for qualified first time homebuyers who purchase foreclosed, vacant properties in Brooklyn Center. Properties must have been foreclosed, registered as vacant with the city, and meet maintenance standards are eligible for these programs. The programs should be available in March. Visit the City of Brooklyn Center for much more detailed information.
Source: City of Brooklyn Center
 Brooklyn Park
The city will conduct its annual Real Estate Forum this Thursday, February 26, from 8:30 a.m. to 12:30 p.m. at Edinburgh USA Clubhouse. The cost is $30. Four CE real estate credits are included. | REGISTER
Source: City of Brooklyn Park
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
First-Time Home Buyer Tax Credit and More
A modified first-time homebuyer tax credit is now law. The credit is for up to $8,000, for principal residences, first-time home buyers, and no repayment if the property is purchased after January 1, 2009 and before December 1, 2009. Information about the home buyer tax credit and the Homeowner Affordability and Stability Plan announced by the President last week are found at NAR's Unlock America's Economy page.
What's in the stimulus package? Here are the provisions in the American Recovery and Reinvestment Act, signed into law by President Barack Obama:
- Home buyer tax credit: increased to $8,000 and repayment requirement eliminated
- Conforming and FHA loan limits: last year's high-cost limits of $729,750 restored
- Neighborhood stabilization: $2 billion in new funds authorized
- Commercial real estate: tax credits allocated for business investment, green building, and energy efficiency
- Rural housing development: $500 million in funds authorized
- Low-income rental housing: Treasury grants authorized
- Tax-exempt housing bonds: tax rules eased
- Energy efficiency: grants and credits authorized
- Transportation: $47 billion in infrastructure development and rehabilitation funds authorized
- Broadband: $7 billion authorized to expand and upgrade infrastructure.
Big concepts:
- Government Sponsored Enterprises (GSEs) Refinancing for Up to 4 to 5 Million Responsible Homeowners with GSE loans to Make Their Mortgages More Affordable
- A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners
- Supporting Low Mortgage Rates By Strengthening Confidence in Fannie Mae and Freddie Mac
Source: National Association of REALTORS®
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Classes Start Next Week!
March 2, 9:00a.m–noon, Essentials 1: The Business of Real Estate, taught by Dwayne Carte.
March 2, 1:00 p.m.–4:00 p.m., Essentials 2: Representing Buyers Like a Pro, taught by Jim Dattalo. This class meets your 1-hour Agency requirement.
March 10, 1:00 p.m. – 4:00 p.m., Preventing a Blown Closing: Ten questions to ask.
March 11, 9:00 a.m. – noon, Matrix. Because it all starts here.
Tuition Price Change
2009 class tuition will depend on the time you register. Anytime between now and a week prior to class qualifies for Early Bird Tuition ($29). Registration throughout the week prior to class will qualify for Advance Tuition ($39). Registration the day of class qualifies for Walk-in Tuition ($49).
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: If/when you purchase the $99 Unlimited CE Pass, it will be the next business day before you can use it to register. Also, you will need to call to register/receive your Unlimited CE Pass discount on NAR designation courses.
* The only exceptions are NAR designation courses, online classes and MAAR special events.
 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®.
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.
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EcoBroker is the premiere green designation program for real estate professionals. EcoBroker Certified® professionals help clients market properties with green features, save money, and live comfortably through energy efficiency and environmentally-sensitive choices. Consumers care about saving energy, protecting the environment and environmental hazards. The EcoBroker designation shows you how to make the energy and environmental market a profitable part of your business. These skills can earn you more commission income, solidify relationships and protect transactions. | LEARN MORE
EcoBroker is not affiliated with or endorsed by the National Association of REALTORS®
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 WEBForms
Need someone to show you how to use WEBForms? Attend an online demo! Log on from your office or home to watch a WEBForms trainer show you how to use the application. Each demo lasts 45 minutes.
Click here for instructions on joining a demo session, including phone number and web address.
Demo Dates and Times are:
Tuesday, February 24, 3:00 p.m.
Thursday, February 26, 10:30 a.m.
Thursday, February 26, 1:00 p.m.
BookAShowing Coming Soon
 BookAShowing.com™ is the new online real estate showing appointment and showing feedback system soon to be integrated into NorthstarMLS. It will be available to all NorthstarMLS subscribers as part of your core MLS services already included in your MLS fees.
Listing Agents:
- Get notified immediately when an agent wants to show their client your listing.
- You choose how you want to be notified: email, text message, managed through your assistant.
- Quickly approve showing requests online.
- Let system automatically approve showings for vacant properties.
- Easily view and email the showing feedback on your listings. Customize your own feedback forms!
- Get detailed reports on showing activity.
- Currently using Showing Solutions? You still can! BookAShowing can be set up to automatically send all your requests directly to Showing Solutions' call center for processing. BookAShowing can also work with Showing Desk and other exsiting broker scheduling systems.
- Save time and effort!
Selling Agents:
- Click a link within NorthstarMLS on the listing you want to show.
- Schedule showings for up to 10 listings at a time.
- Your showing request goes immediately to List agent or office for approval.
- Reschedule showings quickly and easily.
- Send feedback to the List Agent with just a few clicks.
- Save time and effort!
Phase Two of the BookAShowing release (activating links and buttons in Matrix to allow scheduling appointments) will occur on Wednesday, March 11 to allow more time for agents and offices to prepare for the release. If offices want to start using BookAShowing now, office staff may use it to book showings on their own office's listings. (Click the house icon in the Tool column next to a listing and select "Add Appointment.")
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 Hello, Ignite! (formerly MNRP)
The National Association of REALTORS® has partnered with the Congressional Black Caucus Foundation, the Congressional Hispanic Caucus Institute (CHCI) and the Asian Pacific American Institute for Congressional Studies to develop three real estate policy fellowships in Washington, DC. Each fellow works full time in the office of a member of Congress for the academic year and receives a small stipend to help with living expenses.
NAR would like to involve REALTORS® more in this program and is promoting this program to young REALTORS® who may be interested in pursuing their interest in public policy.
The application deadline for CHCI is the earliest (March 6). The Congressional Black Caucus Foundation deadline is April 16 and the Asian Pacific American Institute for Congressional Studies deadline is May 31. Fellowships begin in late August and early September. | VIEW BROCHURE
Source: National Association of REALTORS®
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We can hardly believe it, but NAR may be outdoing itself with its attempt to strengthen membership benefits. The initiative is called "Right Tools. Right Now." In the following weeks and months, we will focus on some of the extensive features that are being unveiled to us by NAR. A major announcement of the "Right Tools. Right Now." program will be made by NAR to all members on March 1. We're feeling kind of squirrely about the whole thing, so we're jumping the gun a little bit.
We guarantee that there is much more that will benefit REALTORS® right away. Sometimes we all get frustrated with our parents, but MAAR, for one, is ready to shed the surly teen image and get behind the national parent association on "Right Tools. Right Now." We are very impressed after our initial investigation of NAR's major reprogramming to help REALTORS® thrive in today's downturn. Stay tuned.
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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.
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"Real Estate Today" airs online at www.RETRadio.com. How can satellite radio subscribers hear "Real Estate Today"?
- America's Talk, XM Channel 158, Saturdays, 4–6 p.m.
- Talk Radio, XM Channel 165, Saturdays, Noon–2 p.m.
- Stars, Sirius-XM Channel 102, Saturdays, 5–7 a.m. and Sundays 8–10 a.m.
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