EXIT REALTY NEXUS, Minneapolis MN, Twin Cities Real Estate Market Publication May 2010

1.  T HE W ASHINGTON V ISIT …...1
May 31 2010
 INSIGHTS .............. ……..…..2
www.exitrealtynexus.com
 O UT OF THE MOUTHS OF CLIENTS
Connection
……………………….........…..3
KEEPING YOU ON THE CUTTING EDGE OF THE
BUSINESS OF REAL ESTATE
NEXUS
The Washington Visit A message from Frank D’Angelo
Last month, I was fortunate enough to of which are accessible to consumers. cide whether or not their participants
represent our association of REALTORS® at  Health insurance: The government have to disclose reasonably-known
the National Association of REALTORS® should enable affordable coverage that short sales.
Midyear assemblies in Washington, DC. A preserves choice without going to a  Another MLS policy change gives
new light of confidence was instilled in both single-payer system or requiring em- MLSs discretionary authority to en-
my perception of the real estate market and the ployers to provide coverage. able participants to offer cooperative
community of professionals associated with  FHA mortgage insurance: FHA compensation through the MLS as a
NAR. should be allowed to use its insurance percentage of the net sale price. The
Here are only a few bullet points that I program to help homeowners refi- net sale price is the gross price minus
took away from the Conference: nance while safeguarding the FHA buyer upgrades in new construction
 Directors gave the go-ahead for NAR mission and minimizing taxpayer risk. and seller concessions.
staff to negotiate with a technology  Environment: Solutions to address
provider to deliver a “proof of con- pollution and degradation of the coun- Ultimately, I learned that our Associa-
cept” working model for a national try’s waterways should be voluntary, tions, staff and our RPAC dollars are being put
library/archive of all real estate par- market-based, and supportive of pri- to good use in preserving the housing industry.
cels in the United States. The library vate property rights. Federal water All REALTORS® should pro-actively be in-
is intended to arm REALTORS with a resource policy should take into ac- volved at the Government Affairs level to some
broker-controlled, count traditional state, local, and pri- extent.
member-only vate water rights and uses. Finally, last month I made reference to
accessed, one-stop  In changes to the association’s multi- the power of confidence and enthusiasm en-
repository of prop- ple listing issues and policies, new compassing 90% of what is necessary to be
erty information to MLS model rules enable practitioners successful. Someone asked what the other 10%
compete against the to alert one another to potential short involved. My response was simple. It’s called;
current availability sales and put them on notice about the Work for a Reason! Or Larry Winget (National
of such information sharing of any reduction in gross list- Trainer/Speaker) might say it passionately like
from a variety of ing commission required by a lender. this; “Shut up, stop whining and go to work!”
online sources – all MLSs are given the authority to de-
MARKET WATCH Data courtesy of MAAR
Apr 2010 Apr 2010 5.69 Homes
Listings Pendings on the Market Per
9,738 5781 BUYER (May ‘10)
One-Year One-Year
Change:
Affordability Index:
Change:
202 (May ‘10)
+20% +10.9%

2. Insights
with Karen Tobler
Everything I need to know I learned in DC
As we spent time with make a difference. re-
On a lightly overcast various representatives covering I realize more than
Wednesday, I set off with a re- specific issues that impact our ever the impor-
markable group of people for own REALTOR® livelihood, as tance of Calls to
Capitol Hill. “The Hill Visit”, as well as topics our homeowners Action and how our legislators cently, successfully obtaining a
it is appropriately called, is the face, I was so pleasantly surprised DO pay attention to what we have ban on fees in private transfer
pinnacle of the week at Midyear when I saw our very own Senators to say. We are the ear of the com- situations right here in our own
NAR Conference. and Congressmen and women take munity. As residential specialists state of Minnesota.
I’m a first generation time to listen. I could see them we serve the homeowner. Com- I learned so much in DC.
immigrant and naturalized citizen and their capable aides processing mercial Specialists serve business I left with an excellent opinion of
to the United States. I remember the information who we are as an industry. Our
studying all about the political that our delega- next generation of REALTOR® is
process and was anxious to exam- tion shared. The ...we, as real estate here: savvy, more focused on col-
ine the situation first hand. Plus I common thread professionals, are on laboration and making a differ-
had the additional responsibility of was that we, as the front lines .... ence each day. Take a moment to
being in the moment because I had real estate pro- look in the mirror and see that
been honored with the Emerging fessionals, are reflection in YOU!
Market Scholarship from the Min- on the front lines and, therefore, owners. How can our Nation’s
neapolis Association of REAL- taken seriously in regards to our politicians afford not to pay Questions, Comments?
TORS® to attend this dynamic experiences in the local market. attention. They can’t! And, we as Contact Karen at 763-548-1416
week-long conference. I am a supporter of REALTOR® professionals can’t or ktobler@exitrealtynexus.com
In all honesty, I had my RPAC; and after that day, I am afford to stay quiet when we learn
doubts. Would they listen? even more convinced that we of potential laws that can harm our
Would they care? CAN make an impact for our- industry and the stability of our
selves and those we serve. I wit- communities. Luckily, between
nessed civics in action. It came NAR and RPAC, they do much of
off the pages of my textbooks to the work. We just have to pitch in
become a brilliant reality! All it from time to time. Some of the
takes is a commitment to a few RPAC successes are, for example,
moments out of the day to read, fighting the elimination of mort-
internalize and decide how to gage interest deductions and, most
UPCOMING EVENTS
&
SPECIAL OCCASSIONS
June 18th Happy Birthday Jodi Vezina!!
June 17th WCR Real Estate Investments Business Luncheon
WCR Real Estate Investments Business Luncheon
11‐1pm, www.twincitieswcr.org
11‐1pm, www.twincitieswcr.org
June 21st Golf for Joy Tournament
Golf for Joy Tournament
www.northmetro.com for location and details
www.northmetro.com for location and details
www.northmetro.com for location and details
June 30th:
June 30th: License Renewals Due
License Renewals Due

3. Out of the mouths of clients!
A Testimonial and Heartfelt Thanks to Patti Ann Kasper, GRI, SFR
“She not only got our property sold, she co-
ordinated the efforts of multiple individuals
and groups to successfully close the deal –
which is no easy feat in this real estate mar-
ket. She communicated with and directed
the tasks of not one, but two lenders and a
host of city officials, tax appraisers, title closers, mortgage apprais-
ers, loan officers, home inspectors, other REALTORS and even city
employees – all done in a timely manner and best of all, without any
effort or worry on our part!
Whether it was answering our many questions, interacting with our
children, or working around our crazy schedule – she was always
patient and responded with an encouraging word and a smile.”
Donavon DesMarais Patti Ann Kasper
(multiple)
Rick Gullickson
Chris Kornberg (multiple)
Jan Strand
Sheldon Berquist (multiple)
CONGRATULATIONS Mindy Shears
ON YOUR SUCCESSES Frank D’Angelo (multiple)
Mike Peterson
LISTINGS & CLOSINGS Jodi Vezina (multiple)
Amy Stevens
Justin Burke (multiple)
In Honor of MEMORIAL DAY:
The legacy of heroes is the memory of a great name
and the inheritance of a great example.
~Benjamin Disraeli