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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

November 13, 2012

Industry News and Trends

Terry Penza Receives NAR's Magel Award
Congratulations to Terese "Terry" Penza, president and CEO of the North Shore-Barrington Association of REALTORS®, who received the 2012 William R. Magel Award of Excellence for association leadership at the National Association of REALTORS® (NAR) Conference in Orlando. Watch a video of the celebration.

Illinois YPN Gets National Recognition
Congratulations also go out to the Illinois Young Professionals Network (YPN) which was awarded NAR's 2012 State YPN Network of the Year in recognition of its educational, charity efforts and networking events over the past year.  

Elmhurst REALTOR® Honored by NAR as Green Industry Advocate
Laura Reedy Stukel, of L.W. Reedy Real Estate, in Elmhurst is the first recipient of the Green Industry Advocate award given by NAR's Green REsource Council. Stukel was honored for her ongoing dedication to advancing sustainability in the real estate industry.

What's Ahead in 2013? Higher Home Prices and Inflation 
Inflation could increase as much as 6 percent next year as payroll tax cuts expire, rents rise due to a lack of housing stock and median home prices edge up, NAR Chief Economist Lawrence Yun told REALTORS® during NAR's Conference. Read more in the IARbuzz blog

Surge of Cash Buyers in Today's Market
Cash is king in housing with all-cash buyers making up as much as 30 percent of sales, a notable increase compared to less than 10 percent from a decade ago, NAR reports

Legislative & Advocacy

REALTORS® Care: Associations Donate to Help Super Storm Victims
The Illinois Association of REALTORS® has donated $25,000 toward disaster relief for areas hard hit by Super Storm Sandy. The donations are part of an estimated $1.3 million which REALTORS® nationwide have committed so far to help the northeast. Other state groups have made donations, too, including the Chicago Association of REALTORS®, which donated $10,000 ($5,000 each to New York and New Jersey.) You can still donate to the REALTORS® Relief Foundation, which is accepting donations to provide housing-related assistance to victims of the disaster. Make a donation today.

Illinois REALTORS® Help with Habitat Build
A group of Illinois REALTORS® volunteered at the NAR Habitat for Humanity Build in Orlando last week. Among those in the photo: REALTORS® Carol Meinhart Hickey, Dana Hybl, Mike Drews, Kathy McKendry, IAR President-Elect Phil Chiles and IAR Professional Development Director Wayne Edwards. See more photos on IAR's Facebook page

2012 Election Roundup
Your votes in last week's election made a difference. Find a roundup of election results for the Illinois General Assembly races and successful efforts to block home rule in Kenilworth and Westmont. 

Legal Issues

Nov. 16 IAR Legal Webinar: Legal Issues Potpourri
Join IAR Chief Legal Counsel Steve Bochenek and Legal Hotline Attorney Betsy Urbance on Friday for a one-hour legal webinar on emerging legal issues including new FHFA guidelines for short sales, recent cases and new escrow issues. The webinar begins at 9:30 a.m. 

Market Stats and Research

Strong Home Sales in First Three Quarters of 2012
Illinois home sales have shown strong recovery this year as foreclosures and distressed properties work their way through the legal system. Home sales in the third quarter of 2012 improved upon gains made earlier in the year. Find county-by-county statistics, talking points and the forecast in Members Only Market Stats (login required).

NAR: Dual Income Couples Fueling Market
Dual-income couples are a driving force in the recovering market with married couples making up 65 percent of all buyers, according to the 2012 National Association of REALTORS® Profile of Home Buyers and Sellers.

Education & Training

What Does the "Fiscal Cliff" Mean for You and Your Business?
Find out at GRI this fall with tax expert Chris Bird and his tax update for Illinois REALTORS® in Courses II, III and Grad. Last day to register is Nov. 14.

Congrats to Popular CE and Ethics Instructor Bruce Aydt
Aydt won the NAR Distinguished Service Award at the NAR Conference! He is a featured speaker at the Illinois GRI program Nov. 26-29 in Bloomington.


November 14
Last day to register for the Illinois Graduate REALTOR® Institute (GRI) being held Nov. 26-29 in Bloomington. See the excellent lineup of courses and instructors for Courses II and III and the Grad Course

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

January 14
Save the Date! IAR is sponsoring an Instructor Course Development Workshop on Jan. 14 at three locations including Springfield, Downers Grove and Arlington Heights. Online registration coming soon.

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