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March 30, 2020
Let us hear from you!
The last few weeks have been filled with rapid changes, adaptions to routines, and social distancing. We want to hear from our members on how you are dealing with the COVID-19 outbreak.

How are you coping?
How have you adapted your business practices?
What are you doing in support of the community?

Please share your story with us by either uploading a word document with a picture or a video here.

Booties Still Needed!

As health care providers scramble for the supplies they need to protect themselves against the coronavirus, Realtors can do their part by donating new/unused booties they have on hand.

Last week, MAR’s CEO Carrie Chang dropped off 570 pairs and other donations being dropped off. We encourage you to look and donate what you have because there is still a need to protect those on the front lines of this pandemic. Thank you!

Please bag or box up your donations with the words "ATTN: Savanna Kyle" on the label and take them to M Health Fairview Midway Campus at 1700 University Ave. W., St. Paul, MN 55104 anytime between 7am and 5pm Monday - Friday. Security officers at the front door will direct you to the drop-off spot. Thank you!

 

Measuring the Impact of COVID-19 on Twin Cities Residential Housing Market

Welcome to another special weekly update from the MAR Research corner, where we cover the latest major market metrics and how they’re impacted by the new Coronavirus. The latest showings numbers updated through 3-29-20 illustrate a significant decline in activity. In fact, showings volume is now consistent with early-January levels. It appeared as though activity was preparing to level off at the 3,000 mark around March 23 and 24, but the declines persisted as the concerns compounded. Read more

 
 
Plenty of COVID-19 response actions were taken by federal, state and local governments during the last week (see links below). However, the details of how to implement is left up to federal, state, or local agencies and sometimes all three.

For example, the federal bill is said to extend unemployment insurance to 1099 employees during this crisis. The federal government has yet to make the rules and calculations, the states will implement this action, and counties or online portals will manage the applications. As of this update, the Minnesota Department of Employment and Economic Development has no guidance for 1099 workers on how to apply for unemployment insurance. They will receive guidance from the federal government, update their practices, and then inform the public. Stay tuned to the MN DEED page for updates.

Again, this is just one example. This situation is fluid. On many of these items, there is no answer until—there is, all of a sudden. Of course, MAR will continue to monitor all developments and keep you updated along the way. If you have questions, please contact MAR’s Government Affairs Director Eric Myers at 952-988-3124 or ericm@mplsrealtor.com.

NAR Guide to Federal Legislation’s Benefits for Realtors

SBA loans to MN small businesses

Local ordinance status update
 

Upcoming Webinars

How to be a Virtual Agent
Friday, April 3, 2020 (9:00 AM to 10:00 AM)
No hours of Real Estate Continuing Education

LIVE Video expert and International Speaker of The Universe, Jeremias "JMan" Maneiro of JMan Seminars 
will discuss the how to's of "virtual open houses". 

You will Leave this webinar with a basic understanding of how you can provide better service, exceed expectations and still keep your social distance. 

Listen to what JMan has to say about the course here.
How to Navigate Through This New Real Estate Reality
Wednesday, April 8, 2020 (2:00 PM to 3:00 PM)
No hours of Real Estate Continuing Education
Golden Handoff - Tips on Succession Planning
Wednesday, April 29, 2020 (1:00 PM to 2:00 PM)
No hours of Real Estate Continuing Education
 

Market Reports

This week Fannie Mae, Freddie Mac, and the FHA suspended all foreclosures and evictions for 60 days in response to the continued COVID-19 outbreak. Further, the Federal Housing Finance Agency (FHFA) annouced that borrowers with loans backed by Fannie Mae and Freddie Mac who face financial difficulties due to COVID-19 may be able to suspend their mortage payments for up to 12 months. More info

See our website for all market stats. 
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