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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

August 28, 2012

Industry News and Trends

IAR at the National Political Conventions
IAR leaders are representing Illinois REALTORS® this week at the Republican National Convention in Tampa; next week they'll be in North Carolina for the Democratic National Convention. Like the IAR Facebook page to see the latest video and photo highlights. IAR caught up with Illinois Treasurer Dan Rutherford, who sends a message back home to IAR members in a short  video with IAR President-Elect Mike Oldenettel. 

NAR: Commercial Real Estate Recovering at Slower Pace
Slower job creation in the second quarter of 2012 and ongoing tight loan availability is impacting the commercial market, NAR reports

New Short Sale Guidance for Fannie and Freddie
The Federal Housing Finance Agency (FHFA) last week announced new guidelines aimed at streamlining and improving the short sale process for Fannie Mae and Freddie Mac loans. The changes go into effect Nov. 1, 2012. Read more from NAR.

Week #2 Winner of the IAR Twitter Promo
Congratulations Kathleen Cordes (@KMCRealtyInc) with KMC Realty, Inc. in Chicago, our final winner of a free registration to IAR's Fall Conference & Expo. Her winning tweet:

#iarcon #1 benefit I get from being a IAR member is access to the legal hotline

Be sure to follow the hashtag #iarcon for updates and news about the IAR Fall Conference & Expo and for highlights during the event. Find details on conference speakers, Expo vendors and CE options.

Market Stats and Research

Illinois Home Sales Surge 25.5 Percent in July
Statewide home sales totaled 12,355, up 25.5 percent from July 2011 and the highest July performance since 2007, according to the latest IAR report. The statewide median price dropped slightly, 1.7 percent, to $148,000. Despite unclear signals about the pace of economic recovery, the Illinois and Chicago-area sales and price forecasts suggest the housing market will maintain positive momentum into the fall, Dr. Geoff Hewings said. Find county-by-county statistics, talking points and the market forecast in Members Only Market Stats. Find an infographic at the IARbuzz blog.

Case Shiller: Chicago Home Prices Rise Again
Chicago home prices rose 4.6 percent in June compared to May, but remained lower than a year ago, Crain's reports. Find the full S&P/Case-Shiller report released today.

Millennials: A Generation of Renters?
An article in The Atlantic, "The Cheapest Generation," looks at the slower homeownership rates and housing patterns of Millennials, or Generation Y. 

Legislative & Advocacy

Help Elect REALTOR®-Friendly Candidates this Election Season
Just $20 can make a difference. Click here to contribute today to the REALTORS® Political Action Committee. (Disclaimer: The Illinois REALTORS® Political Action Committee (RPAC) solicits contributions from IAR members only.)

Rules for Using REALTOR® Trademark When Supporting Election Candidates
The election campaign season is underway and if you want to get involved with campaigns or support a candidate, it is important that you know the rules on how to use the REALTOR® trademark. NAR has created a short video detailing how the trademark can and cannot be used.

Sales and Marketing

GRI Fall Course Line-up is Now Online
Check out the sessions and instructors including How to Master Negotiations with Kim Daugherty, Customer Service with Mark Barker, Procuring Cause with Bruce Aydt and many more. 

Four Mistakes Homeowners Make With Their Homes
From going overboard on remodeling to realizing too late that they've torn down a load-bearing wall, NAR's Styled, Staged and Sold blog highlights four common mistakes that homeowners make.

Stand Out from the Crowd with a Master of Real Estate Degree
Differentiate yourself by earning an online master's degree from REALTOR® University. This 36 credit hour, 12 course (minimum) graduate level program will give you skills that you can immediately apply to your day-to-day career. Learn more about the Master of Real Estate program and scholarship assistance


September 5
9 Days Left to Get the Best Rate at the IAR Fall Conference & Expo!
Register by Sept. 5 for just $125! Register today.

October 2
Commercial Training Opportunity in St. Charles. This special program at Pheasant Run Resort features sessions on identifying value and return on investment, key points to look for in commercial contracts and legal analysis and due diligence recommended in commercial real estate. Register now, the cost is $15

October 8-12
CIPS Institute in Chicago. Register for this Certified International Property Specialist (CIPS) designation course and learn more about global markets and transactions. Taking the full Institute fulfills the classroom requirements for the CIPS designation.

October 10-11
National Forum on Workforce Housing: Bring Workers Home in Chicago. This two-day event features a workforce housing forum and an employer-assisted housing class. Learn more and register.

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