Weekly Market Activity Report

For 12 consecutive weeks now, the number of homes for sale in the Twin Cities housing market has been higher than it was a year ago, and the gap between this year's inventory and last year's inventory at the same time has been steadily growing. There are currently 27,784 homes for sale, up 8.1 percent from this time in 2009. Inventory is not growing due to an influx of new sellers putting their homes on the market. Rather, its growing due to a drop in buyers who once were absorbing supply.

For the week ending August 21, there were 601 signed purchase agreements, down 40.6 percent from a year ago. That's the 15th consecutive week of significant declines compared to a year ago.

With supply growing and fewer buyers to purchase it, home sellers can expect a challenging fall and downward pressure on home values. Motivated sellers who want to move quickly may have to pursue aggressive pricing to attract buyers.

VIEW FULL REPORT | VIEW MORE RESEARCH REPORTS

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BOD Online Election | Watch Vios | Vote Now

Board of Director candidate video biographies (vios) are back. Here are their vios & bios in alpha order:

Tom Hoffman
Watch Vio | Bio

Marge Kane
Watch Vio | Bio

Claire Killen
Watch Vio | Bio

Cotty Lowry
Watch Vio | Bio

Nene Matey-Keke
Watch Vio | Bio

Karen Tobler
Watch Vio | Bio

Ballots must be cast online. You can vote for up to three candidates.

Check your email inbox for your unique voting login information sent on August 17. The email was from MAAR Election Coordinator.

Your Vote Counts!
If you are not regularly receiving emails from MAAR, please go to “My Account” at the top of www.mplsrealtor.com. Enter your Login ID and Password to verify your email address.

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The REALTOR® Autumn issue

A Pretty Good Magazine.

Hot off the Internets, The REALTOR® Autumn 2010 issue is here!

Be the first to read it. Instant online magazine browsing is a good thing.

A print copy will reach your doorstep soon (unless you opted out).

Find exclusive information on topics that relate to your local business.

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Public Affairs News

NAR Broker Involvement Program

The National Association of REALTORS® has developed the Broker Involvement Program which has resulted in an increase in the number of REALTORS® who respond to Calls to Action. | WATCH VIDEO | MORE INFO

Look Before You Leap

The goal of the Look Before You Leap program is to alert homeowners about foreclosure scam companies that charge homeowners for services available for free. Homeowners should be wary of any person or company who

• Charges fees for their services
  
• Asks homeowners to sign over title to their home or even power of attorney
  
• Claims homeowners should stop paying their mortgage during the loan modification process
  
• Claims homeowners should pay them, rather than the bank, during the modification process
  
• Promises a guaranteed outcome or claim they can help people in any situation | MORE INFO

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Looking for REALTOR® of the Year

We would like to recognize one of our members as MAAR “REALTOR® of the Year.” It is our way of showing appreciation to members for their volunteerism to our association as well as any involvement with the national and state associations.

Complete the form by September 30 and return it to Amy Ransom at the address shown at the bottom of the form or email it to her at amyr@mplsrealtor.com.

Note: Current President, President-Elect and Immediate Past-President of MAAR are not eligible.

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Builders Association Update

According to statistics compiled by the Keystone Report for the Builders Association of the Twin Cities (BATC), there were 246 permits pulled for a total of 460 units during the month of August, 2010. Year-to-date, permits are 29 percent higher than at this time in 2009.

August residential permit figures suggest the region is considerably stronger than the national average. While August 2010 planned units were down about 15 percent from 2009, August units were up 73 percent from July 2010 and higher than in eight of the past 12 months. | READ MORE

Source: Builders Association of the Twin Cities

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August 2010 Issue of Real Estate Insights

Real Estate Insights (REI) is produced by NAR Research and is full of timely real estate market research information. Remember to click on the special “For more info” arrow icons throughout this issue so you can automatically link to another website for more detailed information.

Real Estate Insights: Web version | PDF version

Source: National Association of REALTORS®

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MLS Billing Cycle Moves Up a Month

We are adjusting our MLS billing to align our accounting workflow with the other local associations. This small change will result in increased staff productivity and enable brokers to easily manage their agents' MLS fees no matter which association they are a member of. MLS fees will now be billed one month prior to the beginning of each quarter. You will still have 30 days to make your payment.

The fourth quarter billing cycle will begin September 1 with a due date of September 30. | Detailed Billing Schedule

If you have questions about Direct Agent Billing, email accounting@mplsrealtor.com or call 952.933.9020.

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NorthstarMLS – Rentals

NorthstarMLS to Add Rental Properties
Soon you will be able to input and search rental properties on NorthstarMLS! The technical pieces are almost complete. Final approval of the new lease forms is forthcoming from the Minnesota Association of REALTORS®. They expect to have them available no later than September 1. | MORE INFO

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Education and Professional Development

REALTOR® Senior Advisor (RSA) Lunch & Learn
For those interested in Money Management Services...

Date and Time: September 13, 11:30 a.m. – 1:00 p.m.
Venue: St. Therese at Oxbow Lake
Address: 5200 Oak Grove Parkway, Brooklyn Park
Speaker: Kathy Green
Tour: There will be a tour following lunch.

St. Therese will be serving lunch so please RSVP by September 9 by calling 952.908.2602. Space is limited to the first 20 to respond.

OMG! New fall class schedule just revealed in The REALTOR®.
Take a peek.

Unlimited CE Passes
You can purchase the CE pass online, over the phone or at the MAAR office. You will need to wait until approximately 9:00 a.m. the next business day for your card to be activated which allows you to register. Get yours now while supplies last! Please be aware of the change 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. To cancel your course attendance, please call or go online.

Compass Academy Application | Deadline September 10
This program fosters the personal leadership skills required to make bold business decisions in a fiercely competitive industry. Participants learn and practice key concepts of personal leadership. Group sessions include interactive learning and are supplemented with individual coaching. | MORE INFO

Questions? Contact Nancy Scott at nancys@mplsrealtor.com or 952.988.3128.

For all your education needs, go to our education page or call us at 952.908.2602.

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Ignite! Multicultural Network Session, September 8

59 Minutes to Success: Stop and Give Me 20
Devoting time to your business and prospecting is so important. Many professionals struggle with basic business survival skills. Learn 20 useful prospecting tips to strengthen and grow your business.

Speaker: Dwayne Carte
Date: Wednesday, September 8
Time: 11:45 a.m. – 12:44 p.m.
Location: Royal Credit Union, Edina Office
Address: 4450 West 76th Street, Edina, MN 55435
Cost: Free Lunch and Session

To register, Contact Donnie Brown donnieb@mplsrealtor.com.

Ignite! Multicultural Network of Real Estate Professionals serves as a platform for real estate professionals to obtain information on building a better business while expanding their cultural network. Ignite! is comprised an assortment of real estate professionals.

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Broker Support Series, September 10

Friday, September 10, 9:30 a.m. – 11:00 a.m.

"The Thing" and Other Tech Bits
Join us this month as we get a first-hand demonstration on how to use MAAR’s latest reporting tool, “The Thing.”
You will also learn other new applications to help you manage your business and what Tech Tank is all about.

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.

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Real Estate Tech Tank, September 16

Real Estate Tech Tank (RETT) is a bunch of real estate types (agents, lenders, title pros) chatting, collaborating and exchanging ideas about how technology can enhance their business. Whether you are a tech novice or pro, you will find something at RETT.

We'll be talking Wordpress at the next RETT. It's more than a free blogging website, folks. From full-fledged websites to Google optimization, it's the perfect solution for REALTORS® looking to get onto the web quickly and easily. We'll discuss, demonstrate and give you tips to get your site noticed!

Time and Date: 1 p.m. – 3 p.m., Thursday, September 16
Location: MAAR Office

Facebook.com/rettmpls | Twitter: #rett

Real Estate Tech Tank Tip from Nobu Hata: Bit.ly

What is it? Bit.ly is a free URL shortener with an origin based in Twitter. There was a need for services to shorten lengthy URLs into the 140-character limitation and bit.ly became the best of the bunch. They're now the main shortening and syndication service of mainstream sites for CNN.com among others.

Tip: Start your free account, install the browser toolbar and use bit.ly to create customized website URLs for everything from your postlets.com (bit.ly/mlsnumber) listing page to individual pages from your website (bit.ly/sellerpacket). Use the URLs in Twitter, Facebook or even your email signature!

Advanced tip: Bit.ly has extensive tracking features. Once you've started your account, create multiple shortened URLs from the same origin website URL and track clickthroughs. From online to social media and even print flyers, you'll know pretty quickly what message is working where, all to hone your marketing efforts going forward.

Remember: Use it! Bit.ly is a trusted website, most likely more than your own. The links deactivate so periodically check on them more than 90 days out to refresh if needed. | http://bit.ly

Tip from Previous Week:
Dropbox.com
http://ustream.tv

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Yo Pro Happy Hour at Brit's Pub, September 16

Date: Thursday, September 16
Time: 5:00 p.m. – 8:00 p.m.
Location: Brit's Pub
Address: 1110 Nicollet Mall, Minneapolis, MN 55403-2405
To Register: Contact Aubray Erhardt aubraye@mplsrealtor.comCost: Free

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Roadmap For REALTORS® For Community Stabilization, September 17

With special guest, Hennepin County Commissioner Jan Callison

Date: Friday, September 17
Time: 9:00 a.m. – noon
CE: 2 hours plus a 1-hour roundtable with community experts from Minnesota Home Ownership Center, Minnesota Housing Finance Agency, City of Minneapolis and Twin Cities Community Land Bank.
Location: Minneapolis Area Association of REALTORS®
Address: 5750 Lincoln Drive Minneapolis, MN 55436-1694


REALTORS® understand the negative impacts of the foreclosure crisis and how it affected our communities but are often unfamiliar with federal, state and local resources that help address these issues. The National Association of REALTORS®, in partnership with the National Community Stabilization Trust, launched a new initiative to help REALTORS® learn about tools and programs available to help stabilize communities, work with local government housing providers and put homes back into the hands of stable homeowners.

To Register: Contact Delores Dahlsten deloresd@mplsrealtor.com or call 952.908.2602. Cost: Free.

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Ignite! Mingler, October 7

Join us at The View at Calhoun for appetizers and a beverage,
compliments of Ignite! and Minnesota Housing Finance Agency.

Bring a real estate professional and plenty of business cards.

Date: Thursday, October 7
Time: 4:00 p.m. – 6:00p.m.
Location: The View
Address: 2730 West Lake Street Minneapolis, MN 55416

To register, Contact Donnie Brown donnieb@mplsrealtor.com.

Ignite! Multicultural Network of Real Estate Professionals serves as a platform for real estate professionals to obtain information on building a better business while expanding their cultural network. Ignite! is comprised an assortment of real estate professionals.

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NARdiGras '10 in Nawlins! Nov 5–8

Join REALTORS® from across the nation and the world in New Orleans this November, and learn about changing issues affecting the industry, share ideas with colleagues outside your local marketplace, and see the incredible innovations that are shaping the future of real estate. | MORE INFO

Source: National Association of REALTORS®

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