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With mortgage rates plunging downward in recent weeks in response to actions taken by the Federal Reserve, home buying activity remains strong.
For the week ending March 21, pending sales in the Twin Cities were 13.0 percent higher than the same week last year, while the number of new listings on the market was basically flat. Over the last three months, there have been approximately 1,200 more signed purchase agreements than there were a year ago and 3,000 fewer new listings. During this time, 58.1 percent of pending sales have been lender-mediated foreclosures and short sales, while 37.1 percent of new listings have been lender-mediated. The fact that the share of lender-mediated sales easily exceeds the share of new lender-mediated listings is a hopeful sign.
New buyers entering this market will be met with strong affordability but will have less to choose from compared to previous years. There are currently 26,064 homes for sale in the metro area, which is down 15.7 percent and 4,840 units from this time in 2008.
Click the logo below or click here for this week's full report. Visit Market Info for more research reports.
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As of Tuesday, March 24, you will not be able to log into NorthstarMLS without a fob (token). NorthstarMLS has made long strides to deploy SafeMLS to all their utilities during a four-week SafeMLS keyfob deployment push from February 20 to March 20.
IMPORTANT: Beginning Monday, March 30, there is a $35 token service fee (plus tax). You must personally pick up your SafeMLS token at the MAAR office and show a photo ID.
SafeMLS ensures that only authorized real estate professional members have access to the NorthstarMLS systems. Already in use by over half a million agents at many of the largest MLS's across the country, SafeMLS protects sensitive, confidential consumer information and all assets of the MLS.
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We know that you need the latest industry information to be the best, smartest real estate professional. Stay connected with us to keep you on the up-and-up in a variety of different ways!
   
We are tweeting, too. Follow us on Twitter. 
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 BookAShowing: Confirm Showing Appointments
More than 55,000 showing appointments have been scheduled through the BookAShowing system in the first two weeks of its release. To ensure continued success and maximum benefit for everyone, it's important that all List Agents/Offices respond to showing requests made through BookAShowing as soon as possible after received—especially if you do not have an assistant or office staff to do it for you.
Confirming an appointment is easy. Click the link at the top of the notification email to automatically take you into BookAShowing and your tentative appointments list. Click the appointment and indicate whether it is Approved or Denied, along with your notes (such as showing instructions). The user who made the request will automatically be notified of your approval. To view a two-minute video on how to confirm a showing request, click here.
 Tax Records
Tax records on NorthstarMLS are now updated for 2009 for Hennepin, Chisago, Pierce, Polk and St. Croix counties. Watch the NorthstarMLS news screen for county tax update announcements.
If You Forget Your SafeMLS PIN or
Just Want to Change It
If you forget your 4-digit SafeMLS PIN number, go to the NorthstarMLS login screen and click the link "I Forgot My PIN." Follow the onscreen prompts to confirm identity. A new PIN Number will immediately be emailed to the email address you have on the NorthstarMLS system. To change your PIN, click the link "I Want to Change My PIN" on the NorthstarMLS login screen and follow the prompts.
How to Handle a Broken or Erased SafeMLS Token
The SafeMLS token is an electronic device, so it is not failure free. However, the failure rate is expected to be small. If your SafeMLS token becomes broken, displays the word "Erased" or displays nothing at all, take these steps to get quick access to NorthstarMLS:
1) On the NorthstarMLS login screen, click the link "I Lost or Broke My Token."
2) Click the button "My Authenticator is Broken."
3) Follow the onscreen directions to report the problem.
Your broken token will be deactivated and you will immediately be issued a temporary seven-day password that will grant you access to NorthstarMLS. The password is delivered to the email address you have on the NorthstarMLS system. Go to MAAR (or your local association) to pick up a new token before the temporary password expires. You must turn in the broken/defective token to receive a replacement at no charge. On the NorthstarMLS login screen, click the link "Enroll My Token" to enroll and start using your new token.
What To Do If You Lose Your SafeMLS Token
If you are certain your token is lost and cannot be found, take these steps:
1) On the NorthstarMLS login screen, click the link "I Lost or Broke My Token."
2) Click the button "I Lost My Authenticator."
3) Follow the onscreen directions to report the loss.
Your lost token will be deactivated and you will immediately be issued a temporary seven-day password that will grant you access to NorthstarMLS. The password is delivered to the email address you have on the NorthstarMLS system. Go to MAAR (or your local association) to pick up a new token before the temporary password expires. On the NorthstarMLS login screen, click the link "Enroll My Token" to enroll and start using your new token.
If your token is lost, there is a charge for the replacement. If you find your token before you have picked up a replacement, contact your association to have it reactivated. If you find your token after you have picked up and paid for a new one, contact your association regarding their policy.
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The IRS released additional information to help home buyers understand the ways they can file to receive the home buyer credit. It is important for taxpayers to know that they must complete the purchase and close or take up residence in the case of new construction in order to be eligible to file for the credit. Here are the four main options listed by the IRS:
1) File an extension.
2) File now, amend later.
3) Amend the 2008 tax return.
4) Claim the credit in 2009 rather than 2008.
There are a number of entities working on ways to advance money to be used for downpayment in anticipation of receiving the credit. NAR is working to provide guidance on these options and how they might work. However, there is no legal way to receive the credit itself from the IRS prior to closing since closing on the purchase is a prerequisite to eligibility for the credit.
Sources: Internal Revenue Service, National Association of REALTORS®
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Tickets can be purchased online! Start at www.twincitieswcr.org and click the button that says "Buy This." This will take you to PayPal. Purchased tickets will be held at a "Will Call" table at the event.
Cost is $35 for everyone. Tickets MUST be purchased in advance; tickets will not be sold at the door.
 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! Contact info@twincitieswcr.org for more information.
Source: Women's Council of REALTORS®
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 Real Estate Insights (REI) is produced by NAR Research and is full of timely real estate market research information. In addition to NAR's economic summary (page 4), pages 9–10 present an article detailing The REALTORS® Confidence Index.
Real Estate Insights: Web version | PDF version
Source: National Association of REALTORS®
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Our own Mark Allen, CEO of MAAR, was featured in a video created by NAR's International Department to show how the global real estate market begins at the front door of your office. Click the image to watch the video! Learn more at NAR International.
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NAR's Green Designation
The National Association of REALTORS® has received an Award of Excellence for its Green Designation, a program designed to equip REALTORS® with advanced knowledge on green building practices and green property features.
The recognition was granted through the Associations Advance America (AAA) program from the American Society of Association Executives and The Center for Association Leadership. The Green Designation is now eligible to be considered for a Summit Award—the top recognition for association programs from ASAE and CAL. NAR is one of only 21 organizations nationally to receive the AAA award for 2009. The AAA program is a national competition which recognizes associations that propel America forward – with innovative projects in education, skills training, standards-setting, business and social innovation, knowledge creation, citizenship, and community service.
 The Green Designation program includes 18 hours of coursework, and REALTORS® who have earned the designation are prepared to help consumers and clients in their search for environmentally friendly properties and work to incorporate green principles into their own practice.
MAAR will be offering the Green Designation Course and Green Residential Elective on the following dates:
April 16–17, 9 a.m. – 4 p.m. (Green Designation Course)
April 29, 9 a.m. – 4 p.m. (Green Residential Elective)
December 7–8, 9 a.m. – 4 p.m. (Green Designation Course)
December 15, 9 a.m. – 4 p.m. (Green Residential Elective)
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 Live Where You Work
St. Louis Park is offering programs that help employees of St. Louis Park businesses purchase a home in St. Louis Park. The city will provide a grant of $2,500 to eligible employees. Employers are invited to contribute a matching or less amount to the city's contribution. The employee must obtain a first mortgage through a participating lender. The grant can be used to assist in financing the downpayment, closing costs and gap financing.
The Washington Report
So much is going on at the federal level these days that it's difficult to keep up with the many changes that are affecting our local housing market. That's why we're glad that NAR produces enough material to take some of the burden off of us when it comes to communicating these changes to you. As we focus on spreading the word in local public affairs, we encourage you to check in with NAR's Washington Report whenever you can find the time. We'll still cover the big pieces of news, like the $8,000 tax credit noted below, but we'll lean on NAR Government Affairs when we can for the latest and greatest out of Washington, DC.
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. NAR has provided a great deal of information about the home buyer tax credit here: American Recovery and Reinvestment Act of 2009.
 The info is geared toward REALTORS®, but you may want to encourage your clients to check it out. Of particular interest to new buyers, of course, is the Homebuyer Tax Credit.
Another Great Resource
The National Association of Home Builders® has a great site dedicated to tax credit information. It's called First-Time Home Buyer Tax Credit and it's very consumer friendly.
Sources: NAR and NAHB
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Upcoming Classes (register at mplsrealtor.com)
Classes are held at the MAAR office unless otherwise noted.
Thursday, April 2, 1–4 p.m. (PDC@RFC), Matrix
Monday, April 6, 6–9 p.m. (Ridgedale Library),
Purchase Agreements That Pack a Punch
Tuesday, April 7, 1–4 p.m. (PDC@RFC),
eEssentials 3 – Word 2003
Tuesday, April 7, 9 a.m.–noon, Short Sales: Roadmap to Success
Tuesday, April 7, 1–4 p.m., Understanding the Closing Process
Wednesday, April 8, 8:30 a.m.–12:30 p.m. (Sunny Hollow Elementary), Robbinsdale Area Schools
 Thursday, April 9, 9 a.m.–noon, Do You Know the Way to FHA?
Monday, April 13, 9 a.m.–4 p.m., Accredited Buyer (2 day)
Monday, April 13, 1–3:30 p.m. (PDC@RFC),
Matrix CMA Taxes & Statistics
Wednesday, April 22, 8:30 a.m.–11:30 a.m. (St. Therese),
St. Therese Catholic School
Featured class! This course will prepare REALTORS® to discuss exceptional school options that encompass pre-kindergarten through 12th grade with their clients who are seeking nonpublic alternatives. Building a stronger foundation: St. Therese Catholic School, Holy Family Catholic High School and the City of Deephaven. Registration and continental breakfast begin at 8:00 a.m. | VIEW FLYER (pdf)
Tuition Prices
2009 class tuition will depend on the time you register. Anytime up to 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. Sign into IMS and purchase it online or call the EPD team at 952.908.2602.
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.
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Learn from Barb Schwarz, the creator of Home StagingTM and The Accredited Staging Professional CourseTM, and her ASP Training Team. This course will be taught by ASP Course Trainer, Jeannie Berger.
Day 1: You will focus on using Home Staging as a real estate marketing tool.
Day 2: Experience the "magic" of transforming a home with ASP Staging.
Day 3: For those seeking the Professional Stager designation.
- List and sell more homes
- Get every seller to prepare their home for sale
- Use Barb's shortcuts to make it easy to get every listing Staged
- Learn Barb's proven Staging sayings to educate your sellers
The two-day training includes classroom instruction and an onsite Home Staging field trip. At the end of the day, you will receive your ASP Real Estate Agent designation and certification.
Dates: April 28 and 29 (and 30 for Professional Stager designation)
Location: MAAR Office, 5750 Lincoln Drive, Minneapolis, MN 55436
Price: $349 (register during March and receive a $50 discount with Promo Code "Save2009")
Credits: 8 CE credits upon completion of the two-day class
Register at StagedHomes.com or call Julie Lyster at 800.392.7161
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Attend the 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 and receive a $25 discount from the normal $359 fee and an 8-month enrollment (instead of 6 months) for this online course.
Call 1.866.377.0627 (toll free) or click the link below to sign up today!
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 Learn about new incentive programs, mortgage credits, marketing efforts, untapped markets and more!
Continuing Education credits have been applied for.
Date: Wednesday, April 15, 2009
Time: 7:45 a.m. (registration);
8:30 a.m.–12:30 p.m. (program)
Location: Wellstone Center, 179 Robie St E,
Saint Paul, MN 55107
(PDF)
Presenters
Market Information
LIVEMSP.org – Mary Kay Bailey
"Untapped" Markets – Shawn Huckleby, EMHI
Sucessful Homeownership – Julie Gugin, HOC
Mortgage Products
TakeCredit! Program – Sue and Pat Denihan
Neighborhood Stabilization Program – Ruth Simmons, MHFA
MPLS Advantage Program – City of Minneapolis
OwnaHome.com – Jim Roth, MCCD FHA Guidelines and Programs
Presenting Partners
CityLiving Home Programs
City of Saint Paul Planning & Economic Development (PED)
City of Minneapolis Community Planning & Economic Development (CPED)
Emerging Markets Homeownership Initiative (EMHI) – Pan African Community Council
FHA – Federal Housing Administration
Home Ownership Center (HOC)
Minnesota Housing Finance Agency (MHFA)
Minneapolis Area Association of REALTORS®
Saint Paul Area Association of REALTORS®
Source: City of St. Paul
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Using Local Data to Inform Community Development
 Presenting Speaker: Jeff Matson, CURA
Date and Time: Friday, April 17, 2009, Noon – 1:30 p.m.
Location: C Mondale Hall (Law School), Room 50 B
229 19th Ave S, Minneapolis, MN 55455
(West Bank Campus)
Parking is available in ramp across the street.
CURA's Community GIS program has made use of a variety of widely available public data sources at the block level and below to help neighborhood organizations achieve their community development goals. This presentation will highlight several recent projects and explore data and resources available to local non-profits, many of which are under-utilized or unknown.
RSVP required by April 15 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, go to www.cura.umn.edu or email your request to curahf@umn.edu.
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 Direct Mail is one of the most cost-effective ways to reach customers, and now it's easier than ever. The U.S. Postal Service has been working with several online service providers to provide useful tips and helpful resources to make a Direct Mail campaign produce strong results.
Free webinars have been designed to give businesses some smart and imaginative solutions for planning a Direct Mail advertising campaign. The webinars can be found on www.usps.com/directmailonline and anyone can sign up for free.
Webinar Topics
How to Plan and Organize a Direct Mail Campaign – Wednesday, April 1, 2009, Noon–1:00 p.m.
This webinar will provide you with the necessary tools and knowledge to help you market your business in a consistent, professional manner. It will help you formulate a plan that will lead you toward your company's goals, and you will learn about several elements that are crucial to an effective mailing.
Customizing Your Mail Pieces – Wednesday, April 15, 2009, Noon–1:00 p.m.
You will learn about personalized marketing strategies, and how timely, relevant, and personalized marketing can increase your response rates.
Mail Piece Design – Wednesday, April 29, 2009, Noon–1:00 p.m.
In this webinar, you will learn how to create effective headlines, how to write effective copy, and how to select graphics that get you the best response possible.
Address List – Wednesday, May 13, 2009, Noon–1:00 p.m.
This webinar will cover the basics of choosing, using and managing mailing lists for direct mail campaigns.
The webinars will teach you how to create postcards, purchase mailing lists, and design entire mailing campaigns on your computer from start to finish, while providing training and ideas from industry experts.
Source: U.S. Postal Service
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Here's a story that's been garnering some national interest. We thought we'd share to show how some folks are tackling the foreclosure market.
This idea comes from Cape Coral, Florida, and it involves a REALTOR® who takes potential buyers on a boat tour of upscale foreclosed homes, all accessed by a canal system that works through the back yards of the southwest Florida community. | READ MORE
Source: Associated Press, Mitch Stacy (03/29/2009)
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Date: Friday, April 17, 2009
Location: Golden Valley Country Club
7001 Golden Valley Rd, Golden Valley, MN 55427
Cost: $99 ($129 Day of Event)
Credits: 4 hours of real estate and appraisal CE credits (pending)
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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It's gonna be great. Free classes. Free food. | MORE INFO
REGISTER TODAY! | Class seating is limited.
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