Illinois Association of Realtors

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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

February 14, 2012

More Than 10,000 Salespeople Have Not Started License Transition

If you are transitioning from a Salesperson to a Broker or a Broker to a Managing Broker, you must have an application filed with IDFPR by April 30. According to data obtained Jan. 31:

  • There are 10,051 salespeople who have not started their license transition. 
  • About 4,300 salespeople have started the transition process, but haven't completed all the necessary steps.
  • 8,362 salespeople have completed the license transition.

If you haven't taken the steps necessary to transition, don't despair, the IAR Transition Help Line is available 9 a.m. to 3 p.m. Monday through Friday. E-mail questions@IARlicenselaw.org or call 877-538-5861. You can also find transition information at IARlicenselaw.org.


Industry News and Trends

Welcome Home Heroes
In a new video, Scott Bush of the Illinois Housing Development Authority (IHDA) covers the basics of Welcome Home Heroes, a state homebuyer financing program for qualifying Illinois veterans and military families that includes a $10,000 forgivable grant to be used for down payment and closing cost assistance, a 30-year fixed rate mortgage and other tax credit incentives. 

IHDA Offers Welcome Home Heroes and SmartMove Training 
IHDA is offering a REALTOR®-only training session on its two mortgage assistance programs from 1-2 p.m., Feb. 16 at the University of Illinois at Chicago, Room 613, Student Center East Tower, 750 S. Halsted in Chicago. Make reservations to attend by e-mailing IHDAEVENT@IHDA.ORG.

Illinois Part of Multi-State Foreclosure Settlement
Illinois is expected to receive about $1 billion as part of the $25 billion mortgage servicing settlement reached by 49 state attorneys general and the federal government with the country's five largest bank mortgage servicers.

Fannie Mae Launches Online-Only REO Offer System
Buyers wanting to submit offers on Fannie Mae foreclosures through the company's REO website, www.HomePath.com, must now do so online. Agents must register to submit offers, receive receipt confirmation and track the status of submitted offers through the HomePath.com website, NAR reports.

NAR to Administration: Do No Harm to Housing
REALTORS® oppose President Obama's budget proposal limiting itemized deductions, including the mortgage interest deduction. Read a statement from NAR President Moe Veissi.


Market Stats and Research

Illinois Home Sales Surge in Final Quarter of 2011
Statewide home sales totaled 25,394 in the final quarter of 2011, an increase of 14.8 percent from 22,114 the year before. The 4Q11 statewide median home sales price was $128,000, down 10.8 percent from $143,500 in 4Q10, according to IAR's latest report. Find county-by-county data, talking points and the latest U of I forecast in Members Only Market Stats (login required). 

IAR's 4Q11 Report Garners Media Attention
A sampling of some of the headlines following last week's IAR home sales report: Fourth-quarter leap put 2011 home sales in the black | Illinois and Local Housing Sales Surge | Home sales gain in 4th quarter | Illinois home sales swell 14.8% in 4Q, but prices dip.


Legislative and Advocacy

Bill Targeting Theft of Recyclable Metals Moves Forward
IAR-supported legislation, House Bill 3825, seeks to crackdown on the growing problem of recyclable metals (such as copper pipes) being stolen. Read the latest State Capitol Report to learn more about the bill which passed out of committee last week and heads to the full House.

Voter Registration Deadline is Feb. 21
Plan on voting in the General Primary Election on March 20? Remember that you must register to vote by Feb. 21. Find information about registering to vote at the Illinois State Board of Elections website. REALTORS® are voters. An analysis last year found 65 percent of Illinois REALTORS® are registered to vote.

RVOICE At Work in Your Corner of Illinois
RVOICE, the new name of the Illinois Association of REALTORS® Advocacy Program, fights at the state and local levels on behalf of REALTORS® and property owners. The latest RVOICE newsletters highlight recent advocacy efforts including a win against mandatory residential fire sprinklers in Bloomington, tightened definitions of vacant properties in Elgin and Freeport and an improved rental property inspection code and landlord registration ordinance in Swansea.


Legal Issues

Feb. 23 IAR Legal Webinar: Rental/Property Management
IAR Legal Counsel Steve Bochenek and Legal Hotline Attorney Betsy Urbance will cover some of the legal issues regarding rental listings, payment of commissions, handling of security deposits or other property management issues. The webinar begins at 9:30 a.m. and is limited to 200 attendees so join promptly on Feb. 23. 


Sales and Marketing

Housing Affordability at Record High
NAR's Housing Affordability Index rose to a record high in 2011, and the Midwest had some of the greatest buying power, HousingWire reports. Decatur ranked as one of the most affordable metro areas in the country. 

Staging Key in Slow Market
Naperville and Arlington Heights REALTORS® Lynne Fusco, Jennifer Olah and Claudia Starck shared their home staging tips with the Daily Herald


Events

Registration Open for Expanded IAR Housing/Capitol Conference
You don't want to miss this year's IAR Capitol Conference featuring a Housing Conference with Gov. Pat Quinn on March 26 followed by REALTOR® Lobby Day and meetings on March 27.  In this first-ever housing conference, REALTORS® will meet with the governor to talk about the current state of the housing market,including a discussion on vacant and distressed housing and homeownership.

ROTY Banquet on March 28
Join the celebration honoring 2012 Illinois REALTOR® of the Year Kay Wirth and all the local Board REALTORS® of the Year by attending the REALTOR® of the Year Banquet in Springfield.


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