New Forms, Cont.

"Memo to Edina Realty Sales Associates"

Literally as I was writing the previous post discussing form changes, I received an email from Edina Realty's excellent legal department walking company Realtors through the highlights, form by form.

Here's an excerpt:

It's almost August, and that means it is time for the MNAR forms changes. The new forms should be used on all deals entered into on or after August 1, 2009.

Here are the changes for 2009:

Septic System Disclosure.

The septic system disclosure -- currently titled "Private Sewer System Disclosure Statement" -- will have a new name based on a change in the law. It will now be called . . .

The actual memorandum goes on for several pages, and is the private property of Edina Realty. So, I'm not going to reproduce it in its entirety here.

The point is, your Realtor (and their Broker) have lots to keep up with, to do a good job representing you.

New Real Estate Forms

Changes to MN Forms Effective Aug. 1

Effective tomorrow (Aug. 1), the forms listed below have all been updated or changed.

Do you know what's in the new forms?

Your Realtor does (or better, very soon).

In fact, several companies specializing in continuing education for Realtors offer classes each August to educate Realtors about the changes. Big brokers like Edina Realty typically offer such training in-house.

•ADDENDUM TO PURCHASE AGREEMENT DISCLOSURE OF INFORMATION ON LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS
•AMENDMENT TO PURCHASE AGREEMENT BUYER'S MOVE-IN AGREEMENT
•AMENDMENT TO PURCHASE AGREEMENT SELLER HOLDOVER POSSESSION AGREEMENT "RENT BACK"
•ARBITRATION DISCLOSURE AND RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT
•BUYER PURCHASING AS IS ADDENDUM
•COMMERCIAL PURCHASE AGREEMENT
•EXCLUSIVE RIGHT TO SELL LISTING CONTRACT
•FINANCING ADDENDUM ASSUMPTION
•FINANCING ADDENDUM CONTRACT FOR DEED
•FINANCING ADDENDUM CONVENTIONAL OR PRIVATELY INSURED CONVENTIONAL MORTGAGE
•FINANCING ADDENDUM DVA GUARANTEED MORTGAGE
•FINANCING ADDENDUM FHA INSURED MORTGAGEINSPECTION CONTINGENCY ADDENDUM
•LOCATION MAP
•NEW CONSTRUCTION PURCHASE AGREEMENT
•PURCHASE AGREEMENT
•SELLER'S DISCLOSURE ALTERNATIVES
•SELLER'S PROPERTY DISCLOSURE STATEMENT
•Private Sewer and Well Inspection Contingency Addendum ---> Renamed SUBSURFACE SEWAGE TREATMENT SYSTEM AND WELL INSPECTION CONTINGENCY ADDENDUM
•Private Sewer System Disclosure Statement ---> Renamed SUBSURFACE SEWAGE TREATMENT SYSTEM DISCLOSURE STATEMENT
•VACANT LAND DISCLOSURE STATEMENT
•VACANT LAND PURCHASE AGREEMENT

New Bubble, Same as the Old Bubble?

Be Careful What You Wish For

Recession-Plagued Nation Demands New Bubble to Invest In
--headline, The Onion (7/14/2008)

Like many readers, I'm delighted that my decimated (and much too modest) stock portfolio is showing signs of recovery.

On the other hand, I'm leery that the gains are for real.

As I see it, first came the 90's stock market bubble, fueled by Internet mania. Then came the housing bubble, engineered (or not) to counteract the effects of the punctured stock market bubble.

And now . . . exactly what?

The makings of another stock market bubble, to speed recovery from the housing bust?

I don't make stock market calls -- staying on top of the housing market is hard enough.

However, it's hard to escape the fact that better-than-expected corporate earnings -- supposedly the fuel behind the market's 40% pop since March -- are characterized by two things: 1) they're good only in comparison to previously lowered estimates; and 2) most companies are making money -- or losing less -- thanks to cost-cutting rather than top-line (revenue) growth.

To me, neither of those make for the underpinnings of a sustained, new bull market.

Or, maybe I'm just a spoilsport.

Blog Rankings

The Twin Cities' 40th Best RE Blog? Really??

Run a Google search on "Twin Cities' best real estate blog" and what do you find?

Not this blog.

At least, not in the top 25 hits ("City Lakes Real Estate" was actually 40th as of this morning -- at least before this post pushed it up several notches).

Instead, you'll find a (mostly) motley collection of stale blogs, non-blogs, and completely inactive blogs.

Case in point: according to Google, the 19th-highest rated Twin Cities real estate blog is something called "Broker Eric Kodner's Twin Cities Real Estate Blog."

Last post (out of less than ten total)? February, 2009. That's how many fresh, topical posts (if I say so myself) there have been on this blog in the last week.

Dear Reader: Any Suggestions?

Nothing against Mr. Kodner, but it's hard to compare his blog with one that's been mentioned or quoted in The New York Times, realclearmarkets.com, Star Tribune, Pioneer Press, etc. numerous times the last year.

[Sorry, had to get that off my chest -- can you say, "Google" and "pay-for-play"??]

P.S.: to be fair, included in the top Google hits are some excellent local real estate blogs, including Teresa Boardman's St. Paul Real Estate blog and Alex Stenback's Behind the Mortgage.

P.P.S.: if you regularly read this blog, and have a suggestion on how to remedy this problem -- at least one that doesn't involve my paying buckets of money to Google -- please feel free to call (612-925-7701) or email me at rosskaplan@edinarealty.com. Thanks!