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

enotes – Week of May 23, 2011

Enotes
 
in this issue
News and Updates Events
Weekly Market Activity Report for 5-23-2011 May 26 Webinar: Impact of FTC's MARS Rules
May Skinny Video | Share with Your Clients

June 4 – 5 NOH | Pick Up Your Balloons at MAAR

Tornado Relief | How to Help Your Community June 9 RE BarCamp Sold Out. Wait List Only.
Call for Action | 20% Down Payments June 16 Clothing Drive at Psycho Suzi's
Lots For Sale For Single-Family New Construction July 13 MNRPAC Motorcycle & Classic Car Rally
iHandy Level, App For Your Business Nov 11 – 14 NAR Conference in Anaheim
Leadership Opportunities at MAAR and NAR  
Matthew Peterson is "30 Under 30"  
EPD | Social Media Revolution, 3 Credits + Lunch Nationwide Open House
MAAR Delegation Takes The Hill June 4 – 5 | Pick Up Balloons and Promote

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Weekly Market Activity Report

For only the second time since the end of last year's tax credit, there were more Pending Sales for a given week than in the prior year. A total of 958 buyers entered into contract for the week ending May 14, an increase of 15.4 percent and the highest number of pendings since the week ending May 8, 2010.

But let's not get too excited just yet, because this apparent shift in Twin Cities home purchase activity was primarily driven by the post-tax-credit slowdown seen at this time last year. To illustrate this point, 2011 sales activity has increased 4.1 percent since the final week of April, while 2010 saw a 43.5 percent decrease during the same period.

On the supply side, New Listings have come back in line with historical norms for this time of year. Sellers brought 1,704 new homes online, or 7.7 percent more than the same time in 2010. Again, 2011 activity has been fairly stable over the past month while 2010 activity declined by nearly 33 percent.

The 23,739 Active Listings for Sale have grown slightly over the course of the year, but remain 10.1 percent under 2010 inventory levels or about 2,700 units slimmer. All those crunches are really starting to pay off as we enter bikini season.

VIEW FULL REPORT | VIEW MORE RESEARCH REPORTS

Weekly Market Activity Report

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WMAR

May Skinny Video

April 2011 Monthly Skinny

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Jeff Allen (Research Director, Minneapolis Area Association of REALTORS® and 10K Research | Marketing), audio recorded by Zach Foty and video produced by Chelsie Foty.

ENGLISH VERSION

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WMAR

Nationwide Open House, June 4 – 5...pass it on!

Nationwide Open HouseOpen houses open doors to buying opportunities! So what could be better than a weekend full of open houses, encouraging people to tour homes and learn more about the benefits of home ownership.

Join REALTORS® coast-to-coast for this two-day Nationwide Open House (NOH) on June 4 – 5 to help promote the benefits of home ownership and highlight the value of working with a REALTOR®. | FLYER

Participate in the Nationwide Open House for almost nothing.

  1. Pick which listings to promote with an open house.
  2. Upload open houses to the MLS | USER GUIDE PAGE 12
  3. Get a bundle of free balloons at MAAR.
  4. Include the NOH logo when you contact clients and friends about open houses. | NOH LOGO
  5. Shoot quick videos of your open houses. Post to YouTube.

How to Host an Open House Field Guide
Learn safety tips as well as how to prepare for and have an open house. | READ MORE

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WMAR

Tornado Relief | How to Help Your Community

Tornado ReliefVolunteer and Donation Needs

Urban Homeworks is organizing volunteers to help with the immediate cleanup efforts. To learn more check out Urban Homeworks and the American Red Cross Twin Cities chapter.

To receive information on volunteer and donation needs, “Like” Urban Homeworks on Facebook. | WEBSITE

 

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WMAR

Call for Action | 20% Down Payments

Does 20% Down Put the American Dream Out of Reach?

Can you or your clients afford a 20% down payment? Can you envision what your prospective client pool would look like if new regulations governing Qualified Residential Mortgages (QRM) take effect this year?

Neither can we. And neither can many elected officials in Congress who did not intend for these regulatory provisions to be so narrowly defined. We must continue our efforts to explain how detrimental the new QRM rules would be to the ongoing housing and lending crisis in America.

According to NAR Research, 60% of recent home buyers made less than a 20% down payment. It would also take 14 years for a typical person to save up a 20% down payment to buy a median-priced home.

Please contact Congress today and ask them to make it clear to the regulators that this proposed regulation was not their legislative intent and to instead implement a more reasonable QRM that will keep creditworthy buyers in the market and able to acquire a loan. | TAKE ACTION

Source: National Association of REALTORS®

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WMAR

Lots For Sale For Single-Family New Construction

RichfieldThe Richfield Housing and Redevelopment Authority (HRA) has lots for sale under the
Richfield Rediscovered Program. Builder and buyer teams can purchase one of the lots and build a new home that is owner-occupied and provides a minimum of 3 bedrooms, 2 baths and a 2-car garage.

The nine residential lots range in price from $50,000 to $65,000. Build it “Green-certified” and receive a $5,000 credit.

For more information, contact the Housing Specialist at housespecialist@cityofrichfield.org or call 612.861.9778.

Source: City of Richfield

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WMAR

App- iHandy Soft Level, fully functional with calibration capability

iHandy Level is AccurateiHandy Soft Level

iHandy Level (one of the 5 tools in iHandy Carpenter toolkit) is free! Unlike some other levels in the App Store, this one is fully functional with calibration capability. | MORE INFO

Calibration Instructions:

The sensor inside every individual iPhone or iPod touch could be built slightly different so to make the level more accurate for your device, you need to calibrate before use.


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WMAR

Leadership Opportunities, Get Involved

The Nominating Committee seeks qualified candidates to serve as Directors of the Association(s). The Nominating Committee will interview all potential candidates for each of the three Board categories; local, state and national board positions. Director candidates must be a MAAR REALTOR® member in good standing.

  • Minneapolis Area Association of REALTORS® Board, 6 Nominees, 3 elected, 3 year term
  • Minnesota Association of REALTORS® Board, 2 MAAR appointments, 3 year term
  • National Association of REALTORS® Board, 3 MAAR appointments, an annual appointment

If you have an interest to serve on one of the following boards, please complete the leadership application. Contact Donnie Brown at donnieb@mplsrealtor.com if you have any questions.

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WMAR

Matthew Peterson, Local REALTOR® is REALTOR® Mag's "30 under 30"

Matthew PetersonThey’re on the climb.The youngest generation of real estate practitioners are embracing today’s market realities and grabbing market share.

These up-and-comers represent a diverse cross-section of the industry, from REO specialists to commercial brokers, from social media mavens to old-fashioned door knockers.

What they share is a personal drive to be the best and provide a higher level of service to their clients. Whether you’re 25 or 75, you will find their stories inspire a passion to succeed. Matthew Peterson, local REALTOR® was inspired by "30 Under 30" profiles he read in REALTOR® Magazine so he co-founded Prodigy Real Estate in 2004.

"I think the biggest mistake people make getting into the business is not showing up. They don’t realize the hardest thing in the world is to be your own business," says Peterson, who learned about budgeting and cash flow from his parents, who were small-business owners. | MORE INFO | FULL LIST

Source: REALTOR® Magazine "30 under 30"

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WMAR

Education | Social Media Revolution, 3 Credits + Free Lunch

Social Media RevolutionThe Social Media Revolution

This class is hosted by K Hovnanian Homes and is not part of the EPD PASS. More than 9 out of 10 real estate consumers are involved in social media while less than 2 out of 10 REALTORS® can be found on social media sites like Facebook, Twitter of Linked-in. | MORE INFO

Date and Time: May 25, 10:00 a.m. - 1:30 p.m.
Location: K Hovnanian Homes, 7550 Ranier Lane N, Maple Grove
Credits: 3
REGISTER

Complete Your License Requirements in 2 Days

Looking to get your 15 hours done as fast as you can? How does 2 days sound? MAAR Is hosting a 1-2-3: Done event in May. Register once for 15 hours of CE. Attend the two day classes and complete this year’s license renewal cycle. | REGISTER

  • Real Estate Marketing Reboot
  • The Market in Plain English
  • Agency and Fair Housing
  • Ethics

Instructors: Dwayne Carte and Rob Mehta
Date and Time: May 25 – 26, 8:30 a.m. – 5:00 p.m.
Location: MAAR
Credits: 15
Cost: $123

@169 BrenDon't Let Summer Road Construction
Make You Late For Class

Construction activities at the Hwy 169 and Bren Road interchange will require short-term closures of the roadways and ramps, with bridge removal and replacement anticipated to begin in June. | MORE INFO | MAP


For updates and detour maps:

  1. Visit 169bren.com
  2. Follow on Twitter: @169Bren
  3. Email 169bren@eminnetonka.com
  4. Call 952.908.7099

Source: City of Minnetonka, MNDOT, City of Edina

May Online CouponSign Up For 20% Off

Promo Code: JUNE20

Promotion expires: June 30

Register: CLICK HERE

 

 

 


April Issue
The Source: Monthly EPD & Events

View upcoming classes, events and programs.

MAY ISSUE | JUNE ISSUE

ALL CLASSES (month at a glance).

 

 

 


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WMAR

MAAR Delegation Takes the Hill

NAR 2011 Midyear Meetings, Washington D.C.

MidyearOn Wednesday, May 11, dozens of REALTORS® from the Minneapolis Area descended on the United States Capitol to talk to their elected representatives about housing and the real estate industry.

Top priorities for REALTORS® during these visits included preserving the mortgage interest deduction, ensuring future access to the secondary mortgage market by reforming government-sponsored enterprises like Fannie Mae and Freddie Mac and maintaining public sources of property insurance.

MAAR REALTORS® visited almost all of Minnesota’s Congressional Representatives, including face-to-face meetings with Senators Klobuchar and Franken. Many of the legislators were receptive to the ideas our REALTORS® support, but much work is still needed in order to ensure the passage of legislation that will bolster the housing industry as well as the economy in general.

Minneapolis Area REALTORS® visited Capitol Hill as a part of NAR’s Mid-Year Meetings, the annual conference held in Washington, D.C. Attending agents learn about and discuss federal legislation that has broad-reaching implications for real estate practitioners as well as consumers. | MORE INFO | PHOTOS

 

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Webinar: Impact of FTC's MARS, May 26

Federal Trade CommisionThe Federal Trade Commission's recent rules regulating mortgage assistance relief services (MARS) providers has some impact on real estate professionals who handle short sales or help financially troubled home owners by renegotiating mortgage terms for them.

NAR attorney, Finley Maxson and NAR policy representative, Charles Dawson will discuss the rule's disclosure requirements and provide the latest on the FTC's clarifying language. | MORE INFO

Date and time: May 26, 2:00 p.m. – 3:00 p.m.
Cost: Free
Register: CLICK HERE

Source: National Association of REALTORS®

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Nationwide Open House, June 4 – 5



Nationwide Open HouseLine Up Your Open Houses and Spread the Word

The Nationwide Open House Weekend offers buyers a stress-free way to visit homes for sale in different neighborhoods.

For sellers, this weekend provides a high-visibility effort to promote traffic and drive home sales. | MORE INFO

 

NOH Balloons have arrived! Pick up a few at the MAAR office today.

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RE BarCamp Sold Out. Wait List Only.

We've hit our goal, 400 RSVPS! Thank you to all that registered. If you signed up but are unable to attend please remove your name from the list so others can fill the spot. | WAIT LIST | WEBSITE

Topic Ideas:
Twitter 101/201 | Word Press | Video | Google Insights | iPad v. Tablet | Negotiation
Credit Builder | Buyer/Seller Pep Talk | Paperless Office | Facebook 201 | RMLS Tools
QR + Tagging | Real Media | VOWs | Blog Voice | RE Market Stats | Go Green | Online Branding

Thank you sponsors!
10K Research & Marketing | CBB | Edina Realty | First Class Mortgage | Minnesota Association of REALTORS® | Mobile Realty Apps | Re/Max Results | RCU | RMLS | Stemmler Productions | Saint Paul Area Association of REALTORS® | Foty Art | Wolfnet | Minneapolis Area Association of REALTORS®


RE BarCamp

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Dress For Success – Clothing Drive, June 16

Dress For Success

Yo Pro and WCR Clothing Drive and Happy Hour –

What's on the menu? Tator Tots, Red Rockets, Brown Sugar Babies & more!

Date and Time: June 16, 4:00 p.m. – 7:00 p.m.
Location: Psycho Suzi's Motor Lounge, 1900 Marshall St Northeast, Minneapolis
Cost: Donate at least one item of professional clothing. | MORE INFO
RSVP:
CLICK HERE

If you are interested in volunteering, becoming a drop-off site or contributing to this organization, please contact Aubray Erhardt at aubraye@mplsrealtor.com.

If you are interested in Image coaching, there is training on the 3rd Saturday of every month, 1:00 p.m. – 4:00 p.m. It is at the Dress For Success location, 1549 University Ave, St. Paul, MN

To sign up contact Stephanie Silvers, Program Coordinator at stephanie@dressforsuccesstwincities.org or call 651.646.6000.

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Leader of the Pac, July 13

RallyMpls & Saint Paul Fundraising Contest

Minneapolis and Saint Paul are having a fund raising contest on who can raise the most money for RPAC. Right now Saint Paul has a slight lead but we can do better.

MNRPAC is planning a Motorcycle and Classic Car Rally and Dinner Ride on July 13. | MORE INFO

 

 


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Registration Open for NAR Conference & Expo in Anaheim, November 11 – 14

NAR Conf

REGISTER


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