Week of Feb. 1, 2010
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News and Updates The January 2010 Twin Cities housing market has shaped up to be nearly identical to January 2009.
After the roller coaster ride the local market has experienced over the last four years, perhaps "not by much" is a welcome respite.
The February 2010 Supply-Demand Ratio sits at 6.99, which means there are 6.99 homes available for each buyer. That's a drop of 8.5 percent from a year ago and the lowest February mark since 2006.
VIEW FULL REPORT | VIEW MORE RESEARCH REPORTS |
FHA Announces Policy Enhancements to Better Manage Risk On January 20, the Federal Housing Administration (FHA) announced major changes to ensure its long-term financial soundness. NAR has met with the FHA Commissioner on several occasions to discuss the state of the housing market and to underscore FHA's invaluable role. By all accounts the new changes are a victory for home buyers. FHA has balanced the need to make financial reforms with the need to keep FHA available to many consumers, evident by the retention of the 3.5 percent minimum downpayment requirement and allowance of the upfront mortgage insurance premium to be financed. | READ MORE Also See NAR's Brief on the FHA Changes Source: National Association of REALTORS® |
Sign Up Now to Attend Real Estate BarCamp Minneapolis / Saint Paul The Twin Cities is hosting its first Real Estate BarCamp on Tuesday, April 6. Be part of the impromptu, freeform learning trend sweeping the industry. The agenda will be set the morning of the event—by you for you. Real Estate BarCamp is open to anyone wanting to learn about topics in social media, technology, branding, marketing, and what's happening now and next in the industry. The learning focus will lean particularly toward real estate professionals such as REALTORS®, brokers, lenders, title pros and the like. This is a can't lose event! It's free, you will learn things and you will be surrounded by a hive of forward thinkers in your industry. Registration is now open and limited to 400 registrants. Come. Engage. Learn. Share. Date: Tuesday, April 6 It's gonna be live, y'all. Register Online | View Website | View Informational Flyer | Facebook Page |
SAVE THE DATE KEYNOTE SPEAKER
MORE DETAILS NEXT WEEK! SAVE THE DATE! THERE'S A BOOK SPECIAL, TOO! |
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NATIONAL BENEFITS | LOCAL BENEFITS |
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Using the eKEY software on non-infrared Windows Mobile phones requires a fob. FOB ORDER FORM | MAAR eKEY PROGRAM | LIST OF CERTIFIED eKEY DEVICES
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We are working through some technical details and a plan to rollout this Secure Login and will keep you posted as we get closer to implementation. Until then, the SafeMLS key fobs are still required for NorthstarMLS access and must be replaced if broken or lost. If you are a new member, we will issue you a temporary password that you can use until the new system is up and working. Please contact Aubray Erhardt for your temporary password at aubraye@mplsrealtor.com. |
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Public Affairs Eagan Implements Inflow and Infiltration Inspection Program The City of Eagan will be implementing a mandatory Inflow and Infiltration inspection program beginning in February. Properties subject to the program are located in three districts that were identified as the major Inflow & Infiltration problem areas. Roughly 2,600 properties will be subject to these inspections which the city expects will be completed within one year. The sewer service inspection itself will not have a cost to the property owner. However, if the inspection identifies any issues, a follow up "Corrective Work Order" will be sent to the property owner requiring repair to be completed within 60 days. If the property owner does not schedule an inspection upon receiving a letter from the city to do so, or if the property owner does not complete the necessary repairs within 60 days of receiving the Corrective Work Order, the property owner's utility bill will have a $150 surcharge per month of noncompliance until a Certificate of Compliance is issued by the City of Eagan. In the case of noncompliance, the property owner will be responsible for paying for 50 percent of the corrective work in addition to the City Permit fee of $50.50. The City of Eagan will pay for the remaining 50 percent of the cost of repair. For property owners who need financing, the city will spread the cost of repair as a special assessment on the property tax for up to five years at 4 percent interest. | MORE INFO Source: Saint Paul Area Association of REALTORS®
Thursday, February 25, 2010 "Living Green in the Park 2010," the 18th annual REALTOR® event will provide a wealth of information on the many significant activities happening in the city of nearly 74,000 residents. The event will provide timely, factual and accurate information to assist you in marketing and selling homes in Brooklyn Park. Dan Bartholomay, Commissioner of Minnesota Housing, the state agency charged with financing and advancing affordable housing opportunities, will present current mortgage information and the agency efforts in buyer assistance programs in today's market. City staff will highlight city strategy in working with the federal Neighborhood Stabilization Program (NSP) to get foreclosed properties back into homeownership. Learn what the city is doing in promoting neighborhood livability including public safety, housing preservation initiatives, recreation and park amenities, and development activity. School Superintendents from IDS #279 and #11 will report on the education scene in Brooklyn Park. Green and sustainable is the focus of the day. Economically green makes dollars and cents for the city. Come and learn how city activities and practices have a green focus to better serve the residents and respect the environment. $30 for 4 Continuing Education credits (pending approval) Sources: City of Brooklyn Park, North Metro REALTOR® Association
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Education and Professional Development
REALTORS® can still earn the SFR Certification without paying extra bucks for it! NAR has extended the time period for waiving the $175 application fee for the SFR certification to March 31. So, watch those webinars, sign up for class, and get your application turned in soon! MAAR will be holding more classes to allow our members to earn this certification and learn about this oh-so-relevant topic in a very inexpensive manner. Class is still only $69 for 6 hours of CE. Two classes to choose from:
Please keep checking enotes and our website as we add additional classes. Sign up online (see directions below) or call to register today! Earn NAR's Short Sales & Foreclosure Resource certification in just four simple steps:
Do all this prior to March 31, 2010 and you don't have to pay the $175 application fee. It's all part of NAR's "Right Tools Right Now" program. There are no other courses or designations focused on short sales or foreclosures that are recognized by the National Association of REALTORS®.| LEARN MORE
Date: Monday, February 8, Beth Patterson will be speaking on Reverse Mortgages. Special Feature: Lunch will be provided by the Vernon Terrace Senior Living Center, so you must RSVP by calling 952.908.2602 or emailing deloresd@mplsrealtor.com. Space is limited to the first 20 to respond. MLS Matrix Classes Scheduled for March! 2010 Courses Revealed!
Only once your education card or credit card has been charged will you be registered for the class or classes. You will automatically be emailed a receipt for your classes. If you don't receive a receipt, you did not complete the registration process.
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.
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Hiring? Free Job Fair with Erik Paulsen – February 8
The recent recession has scorched the best of us. Erik Paulsen is hosting a Job Fair bursting with great community resources that will connect employers and potential employees
If you're looking to hire or know a business hiring, learn more about this free opportunity to connect with the public. There are no fees associated with participation or admission. Submissions due on January 29, 2009. MORE INFORMATION | LETTER FROM CONGRESSMAN PAULSEN |
Yo Pro Squaretables – Speed Learning at the MAAR Office – February 11
Squaretable Facilitators and Topics:
"Squaretables" is the name of our quick-hit information and networking event geared toward young professionals (and welcome to all). The format is fast and fun. Check out one table for about 20 minutes, take what you need, ask what you want, move to next table, take more, and so on. Why Squaretables? Because our tables aren't round. Attendance is limited by the size of our room. Register early with Aubray Erhardt at aubraye@mplsrealtor.com or 952.988.3120 or find us on Facebook. This free event tends to fill up fast. |
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MAAR is pleased to host this series of broker monthly meetings on managing your broker business. This free event will be held at the MAAR office. Register with Linda Stoeckicht at lindas@mplsrealtor.com or 952.988.3157. |
Maureen Tubbs
Greg Sax
Mark Allen
The Supra eKEY program is now available on more Windows Mobile supported smart phones:
Questions about the Supra system? 
Friday, February 12, 9:30 a.m. – 11:00 a.m.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.
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Area Association of REALTORS®.
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