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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

October 16, 2012

Legislative & Advocacy

GAD Battles: IAR Fighting for You
IAR's local Government Affairs Directors (GADs) are fighting for you all over Illinois and now IAR has come up with a series of infographics spotlighting four key battles including fire sprinkler mandates, home rule, fees and coming soon, inspections. Download this poster on the ongoing GAD battle against home rule and the pitfalls of the practice of allowing communities virtually unlimited power to raise property taxes. 

REALTORS®, Landlords Block Evanston Rental Licensing 
Opposition from REALTORS® and landlords has prompted the city of Evanston to delay action on a rental licensing ordinance that would have required landlords to license properties or face fines. See media coverage of the RVOICE win.

Illinois Constitutional Amendment on Pensions and Retirement Rights
On Election Day, Illinois residents will be able to vote on a proposed amendment to the Illinois Constitution requiring government bodies to have a three-fifths vote (instead of a simple majority) to increase benefits under any public pension or retirement system. The proposed amendment also would require a two-thirds vote for lawmakers to override a governor’s veto or to accept a governor’s changes in a rewrite of pension increase legislation. Read an IARbuzz post from IAR lobbyist Julie Sullivan and find key election information and deadlines


Industry News and Trends

IDFPR Still Working to Complete Transition Applications 
The Illinois Department of Financial and Professional Regulation (IDFPR) is still working to resolve some incomplete applications, said Jill Johnson, real estate coordinator for IDFPR's Bureau of Real Estate Professions, at the recent IAR Fall Conference. Read the IARbuzz blog for details. If you have questions about your status, check the agency's online license lookup.

CoreLogic: U.S. Shadow Housing Inventory Declines
The nation’s shadow inventory dropped 10.2 percent in July compared to a year ago, according to CoreLogic’s latest report.  That puts CoreLogic’s estimate of current residential shadow inventory at 2.3 million units, a decline from 2.6 million a year ago. Foreclosures continue to have a longer timeline in Illinois and other states where foreclosures go through the courts.

Low Appraisals Causing Contract Glitches
A new NAR survey finds that low appraisals are negatively impacting some contracts. Eleven percent of REALTORS® surveyed said a contract was cancelled because an appraised value came in below the negotiated price, 9 percent reported a contract delay and 15 percent said a contract was renegotiated to a lower price, according to the NAR survey.

Foreclosed Owners Returning to the Market
Homeowners who lost homes to foreclosures are "boomeranging" back into the housing market and are again looking to buy, the Wall Street Journal reports.


Sales and Marketing

Wanted: Your Motivation Tips and Ideas
How do you get your agents pumped up about sales and the market? Are there sales meeting strategies, contests or other ideas that you use to rev your team up? We're looking for tips and tools for getting motivated in 2013. Share your ideas with us and you could be featured in the January Illinois REALTOR® magazine. Send an e-mail to iarnews@iar.org.

Best Times to Buy and Sell a House
Is January the best month to make an offer on a house because there is less competition? Is Thursday the best day to list a house for sale so that you can take advantage of weekend showings? A recent Time article looks at how timing can make a difference when it comes to buying and selling a home. 


Legal Issues

"Heard it on the Hotline" IAR Legal Webinar, Oct. 18
IAR Chief Legal Counsel Steve Bochenek and Legal Hotline Attorney Betsy Urbance will feature recent questions taken from the IAR Legal Hotline calls and e-mails in a one-hour webinar at 9:30 a.m., Thursday.  If you have something you would like to hear about, send an email in advance to webinar@iar.org. Questions will be answered during the webinar; however, priority will be given to those received in advance.


Market Stats and Research

September Illinois Home Sales Report Released Friday
IAR will release its September home sales report at 8 a.m. on Friday. As an IAR member, you have access to additional market information, including county-by-county statistics, talking points on the market and a housing forecast. You can access it by logging into the Members Only Market Stats section of the IAR website.


Education & Training

New! 15-hour Interactive Broker Pre-License Course at 6 Locations - Oct. 30-31
Know someone pursuing a real estate career in Illinois? The IAR Licensing and Training Center is sponsoring a two-day broker pre-license interactive course in 6 locations: live in Springfield and via video-conference in Arlington Heights, Downers Grove, Glen Carbon, Northbrook and Peoria. This 15-hour course plus the IAR 75-hour Broker Pre-License course combine for a high quality, affordable option to complete the 90 hours of training required for the Illinois real estate broker license. 

Tax Armageddon
Get ready for the 2013 fiscal cliff with Tax Expert Chris Bird at GRI Grad, Nov. 28-29 in Bloomington. Congress has left over 50 tax provisions that either expired in 2011 or are due to expire on Dec. 31, 2012. Chris will cover the fiscal cliff, 3.8% tax, new SUV deduction rules and more. Plus, 6 hours of CE and inspiration for getting to the next level of production with Coach Patti Kouri at GRI Grad 2012. Register by Oct. 31 for the best rate. 


Events 

October 25
Beginning in November, Realtors Property Resource® (RPR) will be available to all REALTORS®.  Learn more about  RPR’s technology tools and features by registering for a free informational webinar on Oct. 25

October 31
Early-bird registration deadline is Oct. 31 for GRI Courses II, III and Grad in Bloomington, Nov. 26-29. See the excellent course/instructor line-up, plus NAR Ethics Requirement available in Course II AND all three (II, III and Grad) get you 6 hours of CE credit. 

November 9-12
There's still time to register for the REALTORS® Conference and Expo in Orlando. This year's NAR conference features 100 education sessions and a 400-exhibitor trade show.

December 31
The Code of Ethics quadrennial training cycle ends Dec. 31. Learn more about training requirements


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