Minnesota REALTORS® Legislative Update

Interesting Year with Interesting Results

Your Minnesota REALTORS® lobbying team of Susan Dioury and Glenn Dorfman have assembled a detailed overview of legislative actions they followed, defeated or advocated for on your behalf this session. Some of the issues have significant public policy implications such as Eminent Domain and the Public Pension Fund issue. Others are important to your day-to-day business like the 10 day Right of Refusal for MCIOA properties or the Airport Zoning Regulation Disclosure bill.

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RE Market Updates and Some Suggestions for Successful Adaptation

FIRST IN SERIES OF FIVE

By: Glenn Dorfman, Minnesota Association of REALTORS®

REASONS FOR BUYERS TO BUY NOW:

Federal Reserve Chairman Ben Bernanke will raise interest rates next week when the Fed meets. Most expect the 17th straight raise to be another _ of a point, with more of the same for the remainder of the year. However, what if Bernanke raises the federal funds rate _ point? So, let me suggest that either way, interest rates are going to rise and informing indecisive buyers of this fact is both good "representation" and sound business practice.

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National Association of Builders Index Falls to Lowest Point Since 1995

In another sign of a slowing real estate marketplace nationwide, the National Association of Builders reported that their index for sales of new single-family homes is down to 42, from an adjusted 46 rating in May.

The Home Builders index reflects home builder attitudes toward future production and sales. When the index is above 50, more than half of the builders are expecting "good sales" versus "poor sales."

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Think the real estate industry is crowded? Try Insurance!

In a press release from the Minnesota Department of Commerce discussing its new automated licensing program for insurance agents and agencies, it mentioned the total number of licensees and brokers under that classification.

Have fun with your friends and colleagues. Guess the number of insurance agents in Minnesota according to the Department of Commerce?

1. 35,591
2. 49,320
3. 62,214
4. 85,099
5. None of the above

Guess the number of insurance agencies in Minnesota?

1. 5,343
2. 7,612
3. 9,166
4. 11,842
5. None of the above

The answer to question number one about the number of active insurance agents is "d"

The answer to question number two about the number of insurance agencies is "b"