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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

September 25, 2012

Market Stats and Research

Illinois Home Sales Rose 23.7 Percent in August
Statewide home sales totaled 13,264 in August,  part of a 14-month run of year-over-year sales increases, according to the latest IAR home sales report. The statewide median price in August was $147,000, down -0.7 percent from a year ago. Find county-by-county statistics, market talking points and a housing forecast in Members Only Market Stats (login required). Watch new videos with Dr. Geoffrey Hewings, "What's the market outlook for the rest of 2012?" and "Has the housing market bottomed out?" Nationally, August existing-home sales and prices rose, NAR reported.

Case Shiller: U.S. Home Prices Rise for Third Month
U.S. home prices rose by 1.6 percent for the  20-City composite in July versus June 2012, according to the S&P/Case-Shiller index released today. Chicago-area home prices rose 2.7 percent during that period, the Chicago Sun-Times reports.

Industry News and Trends

Higher Fannie/Freddie Mortgage Fees in Illinois?
The Federal Housing Finance Agency (FHFA) is proposing to raise guarantee fees on single-family mortgages in states such as Illinois "where costs related to foreclosure practices are statistically higher than the national average," according to a FHFA release. Read more in the Chicago Tribune. The Illinois Association of REALTORS® is concerned about the negative effects of the proposal and is sending a letter to Illinois' Congressional delegation and two U.S. Senators, and is communicating those concerns to Illinois Attorney General Lisa Madigan and Gov. Pat Quinn. Read the letter.

In Memoriam: William E. “Bill” Cahill Jr.
William E. "Bill" Cahill Jr., former president of the Illinois Association of REALTORS® who pushed for legislation that required continuing education training for real estate professionals, died Sunday. He was 76. Read more.

IAR Fall Conference & Expo Kicks Off Next Week!
Walk-in registrations are welcome for the IAR Fall Conference & Expo, Oct. 2-4 at Pheasant Run Resort in St. Charles. IAR members, use the $10 coupon from your October Illinois REALTOR® magazine. There will be great sessions by industry experts, plus you can earn up to six hours of CE! Catch all the event highlights on the IARbuzz blog, by liking IAR on Facebook, and following @ILREALTOR and the hashtag #iarcon on Twitter. 

IAR Business Meetings Run Oct. 1-3 in St. Charles
Find a schedule and download a copy of Business Meetings at a Glance (pdf).

Sales and Marketing Bid Deadline Extended for Building Blocks Program
The state has extended the deadline to Oct. 4, 2012, for Illinois licensed real estate marketing firms to submit bids to provide real estate sales and marketing services to developers for IHDA's Illinois Building Blocks Pilot Program. The program targets vacant and foreclosed properties in six communities in south and west Cook County: Berwyn, Chicago Heights, Maywood, Park Forest, Riverdale, and South Holland.  

Education & Training

New! 15-hour Interactive Broker Pre-License Live Course, Oct. 30-31
Register now for this IAR-sponsored, two-day broker pre-license course for candidates who have completed the 75-hour course requirement. You may still attend this class if you have not completed the 75 hours, or if you are completing your 75-hour online, by home study or with another school. Learn more about the course and registration.

Why GRI?
"GRI was engaging and full of tools to help you grow your business in these hard economic times!" - REALTOR® Tammy Hensley, Villa Park. Register today for GRI this fall

Sales and Marketing

Study: Women Value Homeownership More Than Men
A recent  poll by TD Bank found that 64 percent of women surveyed said homeownership is essential to achieving the American Dream, compared to 52 percent of men. Read more from RISMedia.

Choosing the Right Mobile Technology
IAR Fall Conference Speaker G. William James shares his tips for finding the right smartphones and tablets in the new Illinois REALTOR® magazine. Here's one tip: Consider the top three features you will rely upon most, and choose the device that will deliver those three to you best.

Eight Real Estate Apps to Try
Speaking of mobile devices, NAR's YPN Blog highlights some apps that can help you on the job, including MagicPlan, which allows you to measure rooms and draw up floor plans by using photos, and Smartr, an updated contacts list/address book.

Legal Issues

Sept. 27 IAR Legal Webinar: Back to School
School is back in session and this month, IAR Chief Legal Counsel Steve Bochenek and Legal Hotline Attorney Betsy Urbance will answer your questions in a one-hour webinar at 9:30 a.m., Thursday, Sept. 27.  Have your question featured during the webinar, by submitting it in advance to Live questions will be answered during the webinar, but priority will be given to those received in advance. 

Legislative & Advocacy

Oct. 15 Deadline for This Year's RPAC Contributions
If you made an RPAC pledge and are unsure of your payment status, please send an email to You can still give until Oct. 15 at  (Disclaimer: The Illinois REALTORS® Political Action Committee (RPAC) solicits contributions from IAR members only.)

Remember that Tuesday, Oct. 9 is the last day to register to vote for the upcoming General Election. Learn more


October 2
REbarcamp in St. Charles. Just a few seats remain for REbarcamp Illinois at Hotel Baker in St. Charles. Reserve your ticket now. #rebcil

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.

October 30 & 31
IAR 15-hour Interactive Broker Pre-License
The course will be from 9 a.m. - 5 p.m. with an exam at the end of day two. It will be available at the following locations: IAR Headquarters, Springfield; Mainstreet, Downers Grove; Mainstreet, Arlington Heights; Peoria Area Association; North-Shore Barrington Association; Greater Gateway Association. 

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