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May 4, 2020
Register for MAR's COVID-19 Real Estate Panel
Join MAR Board members, Todd Urbanski, Ryan Scheldrup, and Shae Hanson, as they share how they're adapting their businesses in the wake of COVID-19. They will discuss what they're seeing in the marketplace, changes they've made to their day-to-day operations and their best practices for keeping you and your clients safe. This is an interactive webinar, so bring your questions.

Wednesday, May 6, 2020 (1:00 PM to 2:00 PM)
Registration is required
No hours of Real Estate Continuing Education
 
As an independent business owner Mark Bontrager of Legacy Inspection Services has had to adjust his business practices amid the COVID-19 pandemic. Using tips he learned from an online course, he now cleans and wipes down all tools after each use, wears a lab coat, gloves and mask and changes clothes between inspections. He also discourages home buyers from attending inspections and uses video conferencing to go through the inspection with them. These new tools have made him "up his game" to a new level. 

Thanks, Mark, for making safety a priority!

Let us hear from you!

How have you adapted your business practices?

Please share your story with us by either uploading a word document with a picture or a video here. You can also email your submission to mplsrealtors@gmail.com.
 

COVID-19 Weekly Market Impact

Showings, listings and pending sales are all trending upward for the first time since the COVID-19 pandemic began impacting the Twin Cities housing market in March. 
Read more

Join MAR's Director of Research and Economics, David Arbit, for a free weekly 1 hour presentation and discussion around the impact of COVID-19 on the Twin Cities real estate market Thursday, May 7, 2020 (2:00 PM to 3:00 PM). Registration is required.

Watch the latest webinar here
 
The $40,000 in immediate relief the Minneapolis Area REALTORS Foundation recently provided to local non-profits for their COVID-19-related needs is already having an impact in our communities.
One of the eight organizations that received a $5,000 grant, The Bridge for Youth, wrote: "With your support, The Bridge is able to respond to emerging needs and continuing to provide critical emergency services for homeless youth during the COVID-19 pandemic."
Another recipient, PRISM, has seen their numbers double since the pandemic began. Each household that comes to them for help receives 100 pounds of food.

Annual grant program accepting applications


The MAR Foundation is currently taking applications for its annual grant program which is open to non-profit organizations that provide housing or housing-related services to communities in Hennepin, Carver, Scott, Sibley or McLeod Counties.  Please encourage your favorite non-profit to apply.

The application deadline has been extended to May 19, 2020. Click here for more information and a link to the application. 
 

MAR Members Access CARES Act Funds

Thanks to NAR's work on the federal relief package, Realtors® have been able to apply for financial aid through some of the CARES Act provisions. It's exciting to see MAR members are getting vital assistance from the Small Business Administration to help their businesses weather the impact of the COVID-19 pandemic. Paul Ekstrom worked with Village Bank and Mindy Shears worked with Royal Credit Union to obtain funds from the Paycheck Protection Program (PPP).

MAR has also been granted a forgivable PPP loan to ensure high quality service for its members during this period of uncertainty.

Click here for more information on the PPP and how to apply.
 
So, what's happening in government this week?

FEDERAL: Well the U.S. Congress is back in action. The Senate convened on Monday, May 4 at 3:00 PM EDT. The U.S. House is expected back on Tuesday, May 5. U.S. Treasury is beginning the process of issuing the $3 trillion in U.S. debt to pay for government interventions so far (think stimulus, PPP, EIDL, PUA, etc). Together they cost $2.68 trillion. What's next for further interventions? Stay tuned!

STATE: The state of Minnesota is expecting to update their budget forecast this week. A previously projected $1.5 billion surplus will likely turn into a deficit. The bonding bill will likely be adjusted downward from $1 billion to $700 million or less. The $100 million housing bonding bill provides direct cash assistance for rent/mortgages for individuals earning less than 300% of federal poverty guidelines. The MN Senate companion bill is significantly less, coming in at $30 million.

LOCAL: There was a 'Rent Strike' in Minneapolis on Friday. The protest was part of a larger national movement but did not receive much main stream media coverage. Although the issues are real - it is very hard to pay rent without income - the protests lack any 'actionable solutions.' Most policy proposals fall short in addressing the issues. REALTORS® should be aware of these actions and understand the emotional nature of this evolving issue. 
Join MAR's Director of Government Affairs, Eric Myers, for a free webinar on how federal, state and local government decisions impact you and your business. This weekly update will provide you the latest information to help guide your decisions during this challenging time. Monday, May 11, 2020 (1:00 PM to 2:00 PM). Registration is required.

Watch today's webinar here.
 

Register today for NAR's 2020 Legislative Meetings

Join NAR for the virtual 2020 REALTORS® Legislative Meetings May 12-14. The sessions featured here will focus on advancing issues important to the real estate profession and the livelihoods of REALTORS®.
 
Register for FREE to participate in the REALTORS® Legislative Meetings and watch the conference sessions.
 

Upcoming CE Webinars with MAR

Social Media Management
Tuesday, May 5, 2020 (8:30 AM to 12:15 PM)
Registration is required
This course has been approved by the MN Commissioner of Commerce for 3.75 hour of Real Estate Continuing Education
Infosparks - Becoming a Numbers Ninja
Wednesday, May 6, 2020 (9:00 AM to 11:30 AM)
Registration is required
This course has been approved by the MN Commissioner of Commerce for 2.5 hour of Real Estate Continuing Education
Millennial's - The NOW Big Thing
Thursday, May 7, 2020 (8:30 AM to 12:15 PM)
Registration is required
This course has been approved by the MN Commissioner of Commerce for 3.75 hour of Real Estate Continuing Education
What Makes a House Smart?
Wednesday, May 13, 2020 (8:30 AM to 12:15 PM)
Registration is required
This course has been approved by the MN Commissioner of Commerce for 3.75 hour of Real Estate Continuing Education

Upcoming Free Webinars with MAR

Covid-19 Real Estate Panel
Wednesday, May 6, 2020 (1:00 PM to 2:00 PM)
Registration is required
No hours of Real Estate Continuing Education
Present/Review Contracts Online with Zoom
Thursday, May 7, 2020 (1:00 PM to 2:00 PM)
Registration is required
No hours of Real Estate Continuing Education
COVID-19 Weekly Market Impact
Thursday, May 7, 2020 (2:00 PM to 3:00 PM)
Registration is required
No hours of Real Estate Continuing Education
COVID 19: Weekly Government Response Update
Monday, May 11, 2020 (1:00 PM to 2:00 PM)
Registration is required
No hours of Real Estate Continuing Education
 
Join us tomorrow at 10:00 AM, via Zoom Meeting, along with Julie Olson, Twin Cities Broker, to learn the ins and outs of Building or Buying a Saleable Real Estate or Small Business Practice!

If you would like to attend, please email Robyn Chargo at robync@mplsrealtor.com and you will be sent the Zoom Meeting link.
 

StarTribune - May 1
Economy may be ailing, but Twin Cities homebuilders keep humming along
"Homebuilders in the Twin Cities ramped up production last month, despite a barrage of challenges including growing economic uncertainties and a mandate to practice social distancing rules on job sites."

MSP Business Journal - May 1
Twin Cities homebuilders post best April since 2006
"Homebuilders pulled 474 single-family permits in April. That's a 16 percent increase over the same period in 2019, and the best April since 2006."

StarTribune - May 2
Minnesota homeowners, loan servicers navigate details of mortgage relief
"On Monday Freddie Mac, Fannie Mae and the agency that oversees them all issued statements that said borrowers will not be required to make lump-sum payments once their forbearance period ends."

 

NAR launches REALTOR® Resiliency Report

NAR's new weekly report describes how it is working to guide and support REALTORS® during the coronavirus (COVID-19) pandemic. It includes the latest information on how to ensure your health and safety, the virus' impact on the nation's economy and the real estate industry, its impact on NAR activities, and what NAR is doing to help.

 

The CE Shop

The CE Shop is extending their 40% off promotion through the end of May! Shop today and enter code SUPPORT40 at checkout. 
 

Market Reports

While the initial unemployment insurance claims number was down from last week, claims remain at a high level with over 4.4 million people filing for the first time in the latest Department of Labor report. Weekly initial claims are likely to continue to decrease in coming weeks while still remaining significantly elevated. More info

See our website for all market stats. 
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