Minneapolis Area Association of REALTORS enotes

Minneapolis Area Association of REALTORS® | Go to web enotes if you cannot view this email. | Holiday egg.

News and Updates

Weekly Market Activity Report – Week of December 14, 2009

Dues Were Due on December 1, 2009

MAAR PR: Home Prices Continue to Stabilize in November

The 100+ – Updated Through November 2009

Housing Supply Outlook – December 2009

Yo Pro Presented 2,000+ Toys for Tots at KARE-11

Two Talks – Net•Working and Resourceful Marketing for REALTORS®

KIMVoice Changes

MAAR's Got Live Chat!

WCR's "Men of Real Estate" Calendar Available at MAAR Store

Survey

Please Fill Out Our 2009 MAAR Membership Survey (Three Cash Prizes Available!)

Departments

Public Affairs – Volunteer Openings in Minnetonka

Education & Professional Development – SFR Designation Class is SOLD OUT

Events

December 18 – CURA Housing Forum – Foreclosure in North Minneapolis

Reference

Right Tools, Right Now Extended to 2010

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News and Updates

The post-Thanksgiving bump is in effect for the Twin Cities housing market. The week ending December 5 saw pending sales swing upward from the previous week by 152 to settle at 551. This is 7.7 percent less than last year at this time, marking the third week of the last four to post pending sales numbers lower than a year ago. The aftermath of the tax credit's initial expiration date is combining with the typical holiday slowdown to bring sales down.

Two other important metrics:

Months Supply of Inventory – At 5.7, this is the lowest MSI in more than two years and a full 32.9 percent below last year. This bodes well for sellers in general, but the higher price ranges are still buyer's markets.

Housing Affordability Index – At 207 and improving, this is welcome news. This means that the average family income in the Twin Cities region is 207 percent of what it takes to qualify to purchase the median priced home.

VIEW FULL REPORT | VIEW MORE RESEARCH REPORTS

$50 Late Payment Dues Renewal Fee in Effect
On top of the $50 late payment fee, an additional $50 reinstatement fee will be due if payment is not received by close of business on January 5, 2010 (totaling $100 in fees at that time). All payments received after December 7 without the $50 late dues renewal fee will be held for processing. Suspension of all services will occur if payment is not received by the final deadline of January 5, 2010.

Our policy on suspension, termination and applicable late dues renewal and reinstatement fees is pretty clear cut. We sincerely try to avoid these unpleasantries by making you aware of our policy throughout the annual dues renewal process.

Many of you have paid, and we thank you for your prompt attention. Those that haven't paid their dues yet were sent a second notification last week.

CLICK HERE to view all information on the 2010 dues renewal, including policy on terminations and reinstatement fees, foundation contributions, RPAC contributions and bylaws.

We released our monthly news release to the media last week. Here's some of what we had to say:

Extremely heavy buyer activity and shrinking inventory led to strengthening Twin Cities home prices in November. The November median sales price of $170,000 was a slight increase from October—a rare occurrence in this month that typically marks the beginning of a temporary winter price swoon. This mark is 2.9 percent behind last October, the lowest year-over-year price decline in more than two years.

This is the surest sign we've seen yet that we're on recovery road. We've seen sales growing for almost a year and a half, and prices are starting to reflect that, particularly in the lower price ranges. | READ MORE

Our tracking tool for local housing market activity has been updated with data through November 2009. | GO TO THERE

In the overall Twin Cities market, home sellers are now getting closer to their original asking prices than they were a year ago. Dig a little deeper, however, and it becomes clear that it's only the Single-Family Detached segment that's seeing improvement. The lowest mark for Percent of Original List Price Received at Sale can be found in previously owned condominiums, which post a low mark of 88.6 percent. Homes below $190,000 are selling 49.9 percent faster over the last 12 months than they did the prior 12 months. Above $190,000, sales are down by 10.5 percent. | VIEW HSO

MAAR's Yo Pro group presented more than 2,000 Toys for Tots at KARE-11 on live TV on Friday night. The group collected toys from more than 20 offices and at MAAR. Yo Pro Chair Jennifer Cutter spoke on behalf of the group, which would like to thank everyone involved with making this year's drive such a success!

Attendees: Aubray Erhardt, Kelly O'Neil, Nobu Hata, Casey Van Winkle, Rebecca Jensen, Joe Swenson, Kimberly Kohler, Jennifer Cutter, and some Yo Pros in waiting. [click photo to enlarge]

Next Yo Pro Squaretables – Thursday, February 11
Time: 2:30 p.m. – 4:00 p.m.
Location: MAAR Office, 5750 Lincoln Dr, Edina, MN 55436
Cost: Free

For more information, contact Aubray Erhardt at aubraye@mplsrealtor.com.

Chelsie Foty and Greg Sax (hey, that's me!) have been doing yap sessions around town all year long, and since we like to put our words to action and since we're big proponents of how social media allows for easy sharing, our two presentations are clickable below via SlideShare:

<---------- Net•Working (Facebook, LinkedIn, Twitter)

Resourceful Marketing for REALTORS®-------->

Supra has announced the release of a new version of KIMVoice. This upgrade provides new features and the framework for future improvements. The new version required a few minor changes to the way DisplayKey and eKey users log in to the system and get update codes.

After logging in to KIMvoice with your key and pin, you will be sent directly to your primary board (which is most likely us here at MAAR). After selecting option 1 for update code, you then need to select your board/association to get an update code. Your primary board/association will ALWAYS be the first selection followed by cooperating board/association names.

ActiveKEY users, after logging in with your key and pin, will hopefully appreciate the new feature of only needing to enter one update code to update their key for all boards they have access to open keyboxes.

Remember: We are known locally in the system as "Twin Cities and Western WI" on the Supra system, not "Minneapolis Area Association of REALTORS" or "MAAR."

Source: Supra

Sometimes you want an extra bit
of live assistance. Our staff is
ready to listen in real time.

Click "Live Chat" at www.mplsrealtor.com
(located on the top tab).

The Men's 2010 calendar sponsored by the Twin Cities Women's Council of REALTORS® is here! Feel free to stop by the desk of store manager, Delores Hoseth, to take a look at the calendar and let her know if you would like to purchase one.

Sale Price: $15.00

What a Steal!

CLICK HERE TO TAKE THE SURVEY NOW

Please tell us where you're at with us, where you want us to be, and what you've been up to. The 2009 MAAR Membership Survey will truly help direct us and, as a bonus, there are 3 cash prizes ($100, $50, $50). Fill out by January 8 to be eligible for the prizes.

Your opinions and privacy are important to us. All individual responses and emails will be kept confidential. We will not sell, share or lease this information with third parties.

NOTE: IF YOU COMPLETE THE SURVEY HERE, PLEASE DISREGARD THE PRINTED SURVEY THAT CAME WITH THE WINTER 2009 ISSUE OF THE REALTOR®, MAAR'S PRINTED QUARTERLY MAGAZINE.

CLICK HERE TO TAKE THE SURVEY NOW

Departments

The Washington Report
If you care about legislative issues that relate to the relate estate industry and want to keep up on all that NAR is up to on a month-to-month, week-to-week, day-to-day, hour-to-hour basis, then start by subscribing to The Washington Report email feed. A lot of what's happening on the national stage breaks here first.

Source: National Association of REALTORS®

There are no other courses or designations focused
on short sales or foreclosures that are recognized by
the National Association of REALTORS®.| LEARN MORE

Limited Supply of 2010 Unlimited CE Passes
Back by popular demand, we are again offering a $99 Unlimited CE Pass for 2010. There are only 500 available for purchase, on a first-come, first-served basis. You can purchase the pass at any time (even before 2010). Get yours now while supplies last.

Please be aware of the most important change in terms for the 2010 Unlimited CE Pass: After three course "no shows" (not attending a class for which you are registered), your CE pass will be terminated.

As always, please call or cancel your registration online if you know you won't be able to attend a class.

Assumptions, Mistakes, Successes and Moving Forward: An Empirical Analysis of Foreclosures in North Minneapolis and Foreclosure Policies

Date and Time: Friday, December 18, 2009, Noon – 1:30 p.m.
Location: L-110 Honeywell Auditorium, Carlson School of Management, 321 19th Avenue S, Minneapolis, MN 55455
(West Bank Campus) Parking available in nearby ramp.

Presenting Speaker:
Mark Ireland, Attorney, Foreclosure Relief Law Project at Housing Preservation Project

It has been at least three years since the initial wave of foreclosures impacted major cities across the country. Mark Ireland presents his new research related to North Minneapolis, Bending Toward Justice: An Empirical Study of Foreclosures in One Neighborhood Three Years after Impact and a Proposed Framework for a Better Community. In addition to an analysis of lending patterns and loan characteristics, this study also analyzes the post-foreclosure impact. Once the foreclosure occurred, what happened to the property?

The article, still in draft form, is available at the Social Science Research Network's website. | VIEW ARTICLE

RSVP required by December 16 to 612.625.9040 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.

Reference

An email was sent to all members by NAR with three informative e-products available for FREE through Right Tools, Right Now:

The Right Tools, Right Now initiative will be extended to 2010.

Source: National Association of REALTORS®

Unlimited Free Scanning from ANY Fax Machine to ANY Email Address
As a Minnesota REALTOR®, you receive unlimited FREE access to MongoFAX. The MongoFAX Cover Page empowers you to fax paper-based documents for FREE directly to ANY email address in the world. It's instant and it's completely FREE! No sign-ups, registrations or passwords required. Just type, print and fax. It's as easy as 1-2-3 and it's 100 percent FREE!

To get started today go to www.mnrealtor.com, go to Member Benefits and click on Member Discounts to access the MongoFAX cover page.

MongoFAX Support
Phone: 866.482.2229
Email: harry@mongonet.net

Happy Holidays From Bill, Amy, Mark, Donnie, and Jon

If you know a member who is not receiving enotes, please forward their email addresses to info@mplsrealtor.com. To unsubscribe, send an email to unsubscribe-enotes@mplsrealtor.com with REMOVE in the subject line. Allow 14 days to process the request. Send replies and news ideas to MAAR's Communications Manager, G. Sax.

© 2009 Minneapolis Area Association of REALTORS®. All rights reserved.