Weekly Market Activity Report

Not everyone is thrilled by increasing numbers, but what they represent in the Twin Cities housing market is nothing to worry for 108 minutes over. Two increases—pending sales and housing affordability—are indicating improvement in the local housing market.

There were 1,120 pending sales for the week ending May 2, a healthy 26.3 percent above last year at this time. The Housing Affordability Index, now at 219, is 45.5 percent above where it was a year ago.

Active listings continue to underwhelm at 26,450, a decrease of 19.5 percent from last year. The lower figure, coupled with increased sales, has in turn helped to create a Supply Demand Ratio of 5.02 for April—31 percent lower than last year. Combining this with the 24.5 percent drop in Months Supply of Inventory over the past year could speak to the amount of houses (and foreclosures) remaining on the market that are selling through.

We don't want to get too far ahead of ourselves, but this could also usher in some new construction for the summer period. According to the Builders Association of the Twin Cities, there were 419 residential units permitted in April 2009, an increase of 43 percent over March 2009.

You don't have to be able to read hieroglyphics to see that within these numbers there could be some optimism found in what was once Lost.

Click the logo below or click here for this week's full report. Visit Market Info for more research reports.

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Member Appreciation Week

Thanks for making the week a great success!
What can we say? It was awesome. Food tent. Ice creaminess. Free classes. Smiling faces. It was a nice week here at MAAR and we owe members more of this kind of unabashed joy.

We're going to hit you up for a survey in a week or two to see what you might want in a future event. We encourage all of you to answer, whether or not you were able to attend last week.

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Housing Supply Outlook – May 2009

The May Housing Supply Outlook is available. Lately, there appears to be a jumbo-sized problem with home sales (if you know what we mean). Here's what to watch for:

While it's certainly welcome news that home sales are up in the Twin Cities metro, there's a big caveat to keep in mind pertaining to price points. All of the growth in sales can be found in the lower price ranges where foreclosure and short sales are more common.

The largest drops in home sales can be found in the price ranges above $350,000 where higher jumbo mortgage rates are charged to borrowers.

The inventory of homes for sale is now lower than it was a year ago for every price range except homes under $120,000, where it is still up 38.1 percent from this time last year.

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Cities Starting to Offer Buyer Incentives

Buy this house (and get free cable):
West St. Paul offers incentives
Foreclosed homes may have more to offer than cheap price tags. Some buyers in West St. Paul will be eligible for perks like free cable, Internet access and a golf membership—courtesy of the city—for one year under a vacant property program as a way to woo potential homebuyers. Coupled with a $2,000 no-strings-attached grant, the city's incentives will top $3,300. Officials are offering the incentive program to the first five homebuyers who qualify, and they'll consider extending it if it goes over well. | READ MORE

Source: St. Paul Pioneer Press, Nick Ferraro (05/07/2009)

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Referral Expo 2009

Effective Referral Strategies
In tough economic times, getting quality referrals is more important than ever. Because MAAR wants you to succeed in your business, we’ve arranged for all members to attend the 2009 Referral Expo at no cost! Space is limited! | REGISTER NOW

Referral Expo 2009 is a "virtual expo" conducted over the phone. It includes a stellar line-up of authors, successful business people and consultants that will give our members tools and ideas on how to build and grow their business through referrals. Ten incredible referral experts have agreed to donate their time and expertise to help MAAR members flourish during these challenging times. MAAR is a co-sponsor this event, and MAAR member Nobu Hata will be one of the ten speakers.

Dates: May 18–29
Time: one-hour presentation each day
Cost: FREE

Source: nsight Marketing

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Next WCR Event: Wednesday, May 20

Immigration in Minnesota:
What Does It Mean for Real Estate?
Four states currently have a "no majority race" population and five more are expected to reach that status in less than five years. According to the U.S. Census Bureau, the buying power of all ethnic groups will increase between now and 2030 with the exception of the caucasian group. In some cases, this buying power will more than triple in the next 20 years.

What does all this mean for Minnesota? What about real estate? Join us for this informative session featuring Laura Danielson, a well-known immigration attorney with Fredrikson & Byron in Minneapolis.

Date and Time: Wednesday, May 20; 11:30 a.m. (lunch), noon (program)
Location: Park Plaza Hotel, 4460 West 78th St Circle, Bloomington, MN 55435
Cost: $20 (members of WCR or Ignite!); $25 (nonmember)

CLICK HERE TO REGISTER

Plus: NAR & WCR Midyear Meeting Update

Sponsored by Ignite! The Multicultural Network of Real Estate Professionals (part of MAAR)

Source: Women's Council of REALTORS®

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MAARketing

Hey, yo. My name is Greg Sax, and in addition to cobbling together this enotes thing every week, I served as an instructor for a 2-hour class called "Marketing for Under $100" during Membership Appreciation Week. In that class, I said I would do two things in this week's enotes:

1) share the meaty parts of the PowerPoint show | CLICK HERE TO VIEW IT
2) share how to share a YouTube video | SEE BELOW

Let's use last month's Monthly Skinny video as our starting point.

1) Find it on our home page at www.mplsrealtor.com.
2) Either click "YouTube" or on the image. | CLICK HERE FOR A SHORTCUT
3) You can pause the video in order to concentrate. It's okay. (see diagram below for instructions 3–8)
4) Below the video is a little bar that has "Favorite, Share, Playlists, Flag." "Share" is default selected.
5) Choose one shown or select "more share options."
6) If you click "more share options," you'll see more social networks, a link, and email options.
7) The URL is already on the main YouTube page along with customizable, embeddable code.
8) I have no idea why Susan Boyle constitutes a related video.

If you want to talk to me, start at gregs@mplsrealtor.com. If you think I should present at your Tuesday office meeting start with Chelsie Foty at chelsief@mplsrealtor.com. She's got good social networking game and produces The Monthly Skinny videos. So maybe consider her for an office visit as well. Good luck!

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Public Affairs

NAR Midyear Legislative Meetings to Focus
on Efforts to Stabilize Housing Markets
REALTORS® from across the nation are arriving in Washington, DC for the National Association of REALTORS® Midyear Legislative Meetings and Trade Expo. As REALTORS® meet with Members of Congress and United States Senators they will bring the message "A Housing Recovery Unlocks the Economy." These are a few noted causes for 2009:

Restructure Fannie Mae and Freddie Mac: The federal government must have a continued key role to ensure capital for mortgage lending throughout all mortgage markets and in all market conditions.

"Unlimit" FHA & GSE Loan Limits: Congress should make permanent the 2008 loan limit formula and loan limit cap.

Expand the Tax Credit: Congress should expand the $8,000 first-time homebuyer tax credit to include all home buyers at all income levels.

Preserve the Mortgage Interest Deduction (MID): NAR opposes any changes to current law. The MID is a remarkably effective tool that facilitates homeownership and community stability. More than 75% of homeowners utilize the deduction over the period they own their home.

Enact Health Care Coverage for the Self-Employed and Small Businesses: NAR urges Congress to pass health care reform legislation that addresses the inequities faced by the self-employed and small businesses in the nation's health insurance delivery system.

Adopt Reasonable Approaches to Energy Efficiency: NAR supports commercially reasonable, incentive-based approaches to help our nation's commercial and residential buildings become more energy efficient. NAR strongly opposes energy labeling requirements which are imposed at time of sale or impose undue economic burdens on property owners or managers.

CLICK HERE FOR MORE ABOUT NAR LEGISLATIVE AND REGULATORY ADVOCACY

A Note From the Minneapolis Park Police Department
Spring is upon us once again and along with it comes an increase in REALTOR® open houses. There is a Minneapolis Park Board ordinance banning signs from park board property. Any signs posted on said property is in violation of the ordinance, will be considered abandoned property and will be disposed of immediately. Members are advised that signs will not be returned and that it will do no good to call the Minneapolis Park Police Department.

Penalty Up for St. Paul Code Violations
Recently the City of Saint Paul's Truth-in-Sale of Housing (TISH) board of examiners voted to increase the cost for non-compliance to its disclosure ordinance. Now any real estate agent in violation of Chapter 189.03 of the city code will be fined $500. First-time violators who pay the penalty and agree to future compliance can avoid having this conviction remain on their permanent record. According to the ordinance:

"Any owner or agent of an owner who sells or makes available for sale a dwelling by implementing any of the following actions, including, but not limited to, advertising the sale of the dwelling, entering into a listing agreement to sell the dwelling or posting a sign that the dwelling is for sale, or any action where the logical result of that action will be the sale or change of ownership of the property, shall, within three (3) calendar days of any such action, have an evaluation completed by an evaluator licensed under this chapter."

Source: Saint Paul Area Association of REALTORS®, City of Saint Paul

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Education and Professional Development

Newest Added Classes – Agency, Fair Housing
May 22, If you already have met one requirement and just need to fulfill the last remaining hour, here's your chance to take EITHER Agency OR Fair Housing, OR you can sign up for both. This is the first time we are offering them as separate classes. We hope this allows you to meet your needs better. Chris Prescott will be teaching both classes.

Agency will be from 9–10 a.m. on May 22
Fair Housing will be from 10:30–11:30 a.m. on May 22

May 13, 9 a.m.–noon, Communicating with Style – SOLD OUT!
May 13, 1 p.m.–4 p.m., Identifying and Avoiding Fraud – limited seating
May 14, 9 a.m.–noon, eEssentials 2 – SOLD OUT!
May 14, 1 p.m.–4 p.m., Home Buyer Seminars – SOLD OUT!
May 18, 6 p.m.–9 p.m., Wake Up, Shift Happens (at the Minnetonka Community Center)
May 19, 9 a.m.–noon, Essentials 4: Communication, the Client, & the RE Transaction – SOLD OUT!
May 19, 1 p.m.–4 p.m., Essentials 6: Sustaining a Consumer-Focused RE Business – limited seating
May 20, 9 a.m.–noon, The Online RE Consumer – SOLD OUT!
May 20, 9 a.m.–noon, Matrix – SOLD OUT!
May 20, 1 p.m.–4 p.m., Purchase Agreements that Pack a Punch – SOLD OUT!
May 21, 9 a.m.–noon, eEssentials 3: Word 2003 – SOLD OUT!

More classes available! Click the Calendar at www.mplsrealtor.com.

CE From the Convenience of Home—New Discount for Online Courses!
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 of our Hondros Learning online courses are approved for Minnesota CE credit.

Register now and take $5.00 off each individual course or $10.00 off a package. Simply use one of the discount codes listed below during checkout. Hurry! These offers expire on May 31, 2009.

Renewal Time!
One of our instructors, Chris Prescott, goes over information about license renewal in a fun and memorable way. He's allowing us to share it with you. | WATCH HIS VIDEO

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Fair Housing Forum

On Wednesday, May 20, the Regional Fair Housing Implementation Council (FHIC) is sponsoring two forums—one each in the west and east metro areas. The forums are for people who may have experienced housing discrimination directly or indirectly, are concerned about fair housing in our communities, and/or want to know more about the regional study of barriers to fair housing currently underway. Forums are scheduled in the afternoon and evening on May 20. It's important for interested and concerned people to attend one of the forums. This is your opportunity to be heard. No reservation is required. | VIEW FLYER

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Supra DisplayKey Billing Notice

GE Supra will be billing in June for the next year's lease on your DisplayKey.

It will be due July 17.

If you have not paid last year's lease payment yet, you will need to be current before you are able to use your DisplayKey again.

If you have questions or concerns, please feel free to call MAAR at 952.933.9020 or contact Supra directly at 1.877.699.6787.

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Next Free Seminar with RealEstateHomePages.com is June 5

JOIN US... for our informative 2 hour seminar to grow your business, automate your marketing, and preview the best website and property search system in the Twin Cities. Sign Up Below.	SEMINAR INCLUDES Full Training on Website Options Search Engine Optimization Lead Capture Drip Email and Much More!
Friday June 5 Click Here to Sign Up Today! MAAR at Real Financial Center 4450 W, 76th St. Edina, MN 9:30-11:30am Directions
WEBSITE FEATURES Google Map Property Search 100% Editable Lead Capture Search Engine Friendly Unlimited Pages Free Local Phone Support No Contracts $39.95 Includes website and MLS Search

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e-PRO® – Next Workshop is Thursday, May 14

Attend the InternetCrusade® Technology Workshop featuring the e-PRO® Certification course, the only technology course offered and endorsed by NAR. 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!

e-PRO® Workshop at MAAR's Office:
5750 Lincoln Drive, Edina, MN 55436
Thursday, May 14, 2009, 11:00 a.m. – noon
(with 30 minutes extra minutes for questions)

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So, You Want To Sell Your LAND Conference

One of the largest real estate events in the Twin Cities.
Over 500 people attend each year!

So, You Want To Sell Your LAND Conference: Successful Strategies for Marketing Your Property

Date: Thursday, May 28
Location: Golden Valley Country Club , 7001 Golden Valley Rd, Golden Valley, MN 55427
Time: 7:15 a.m. (registration & continental buffet), 7:55 a.m.–noon (program)
Cost: $99, $129 Day of Event
Credits: 4 hours of real estate, appraisal and legal CE credits applied for
Register

Speakers Include

• Congressman Erik Paulsen, U.S. House of Representatives
• Elwyn Tinklenberg, The Tinklenberg Group
• Mayor Doug Anderson, City of Dayton
• Samantha Orduno, City of Dayton
• Henry Fischer, St. Cloud Area Economic Development Partnership
• Catherine Mehelich, City of Elk River
• Tom Gump, Neighborhood Development Partners LLC
• Kevin Goodno, Fredrikson & Byron PA
• Brian McCool, Fredrikson & Byron PA
• Joe Springer, Fredrikson & Byron PA
• James Lockhart, Wipfli LLP
• Tim Lenway, Braun Intertec
• Ron Shaffer, Braun Intertec
• Steve Schwanke, RLK Incorporated
• Ted Gonsior, NAI Welsh
• Jon Rausch, NorthMarq

On the Program

• The Importance of Transportation Infrastructure and How Governmental Dollars and Regulations Will Impact the Development Industry
• Stimulus, Infrastructure Funding, and the Double-Edged Sword
• How to Maximize the Value of Your Land and How to Find Equity and Protect Your Proceeds
• Engineering & Environmental Work to Improve Your Land Value
• How to Effectively Work With Municipalities
• How to Sell Your Land in Our Current Market

Register | Full Program

For registration questions, contact Stephanie Awe at sawe@recg.com or 952.405.7785.

Source: Real Estate Communications Group

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Seeking Five Good Neighbors to Receive $10,000 Grants

REALTOR® Magazine is seeking nominations for the 10th annual Good Neighbor Awards. The program recognizes REALTORS® who have made an extraordinary commitment to community service. Five winners will be announced in November in REALTOR® Magazine and at the 2009 REALTORS® Conference & Expo in San Diego.

The winners will receive a $10,000 grant for their community cause, national publicity, travel expenses to the convention and a crystal trophy.

Entries must be received by May 22, 2009.

Entry Forms, Rules, Criteria | FAQ

Source: REALTOR® Magazine, National Association of REALTORS®

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