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March 1, 2021

Today's Real Estate Weekly Newsletter

Brokers, join us for a morning of learning and networking! Our first quarterly Broker Forum of the year features a Spring Market Outlook with David Arbit, MAR’s Director of Research and Economics. We will also cover an array of topics and resources as they relate to your membership and your business. You will have time to network with your broker peers too. Yes, that’s still totally possible in the Zoom world! We look forward to seeing you Friday! Sign up today.

Welcome February New Members

We are excited to welcome 141 new members to MAR!

Q2 2021 MLS Fees

Q2 2021 MLS Fees are due March 31. Please login to the Member Portal to pay.

Take a look at the latest Twin Cities Weekly Housing Market Charts.

MAR Monthly Housing Market Update

What happens when Jeff Bezos walks into a bar? And what does it have to do with explaining median vs average? Find out here, and join MAR's Director of Research and Economics, David Arbit, for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, March 18 from 2-3 PM. Register here.

On Friday, Minneapolis City Council introduced a rent stabilization charter amendment following a public hearing in the Policy & Government Oversight Committee last Wednesday. This measure will be referred to the Minneapolis Charter Commission in March.

Additionally, Notice of Intent to Introduce was given to Minneapolis City Council on Tenant Opportunity to Purchase Act (TOPA). The proposal will be formally introduced in the coming weeks.

In The News

Minneapolis voters could decide whether to impose rent controls on landlords

Housing Day at the Capitol

Join us and Minnesota Realtors^® on March 15 for this virtual event. The day will start by sharing key messages and lobbying tips, followed by virtual meetings with your legislator(s). Register today to secure your spot with your lawmaker!

Apply for REALTOR^® Emeritus status

REALTOR^® Emeritus status recognizes members who have forty years of membership and have completed at least one year of service at the national association level. Certified REALTOR^® Emeritus members do not pay dues to the National Association and are exempt from the Code of Ethics Training requirement. Please email info@mplsrealtor.com by March 12 if you meet the requirements and would like an application for REALTOR^® Emeritus status submitted on your behalf. Let us know which national committee you served on and year(s) served. See NAR’s FAQ for more.

MAR Foundation Trustee Spotlight

Sarah Huffman, 2021 Vice Chair

Sarah discusses why she became a Realtor^®, how she got involved in the Foundation and more in this blog post.

When asked what would you like people to know about the Foundation and its work, Sarah responded, "I want people to know that every little bit helps.  We will continue to grow and impact lives in a meaningful way in our community."

March 3 | Basics of MLS | 3.75 CE Hours

March 8 | Real Size Matters | 3.75 CE Hours

March 11 | 7/1/20–6/30/21 Salesperson&Broker Required Module: MN Disclosure Laws | 3.75 CE Hours

Market Reports

Freddie Mac reported this week the average 30-year fixed-rate mortgage interest rate rose to 2.81%, its highest point since mid-November, but still far lower than the 3.49% average from the same time last year. Interest rates may rise further in coming weeks, but according to Freddie Mac chief economist Sam Khater, “while there are multiple temporary factors driving up rates, the underlying economic fundamentals point to rates remaining in the low 3 percent range for the year.” Read more.