Illinois Association of Realtors

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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

September 18, 2012

Industry News and Trends

New! Your October Illinois REALTOR® 
You'll soon be receiving the October Illinois REALTOR® magazine in the mail, but here is a sneak peek of what you will find inside. Market experts share what REALTORS® need to know about shadow inventory in "Stepping Out of the Shadows." And in "On a Roll: Putting the Short in Short Sales," you'll learn more about trends and tips to speed these often complex transactions. What else will you find?

NAR: FHA Issues Modest Changes to Condo Rules
The Federal Housing Administration (FHA) issued a mortgagee letter last week announcing modest improvements to the treatment of condos under the FHA program. NAR has the details and the mortgagee letter.

September is REALTOR® Safety Month
Find safety tipsNAR resources and videos, including this one from NAR, "Social Media and Cyber Safety Strategies." 

You Have Until Midnight Sept. 19 to Register for the IAR Fall Conference & Expo
Don't miss a great deal - just $135 for IAR members - gets you up to 6 hours of CE, access to the business expo, sessions on short sales, viral marketing, pricing and tech tools. Register now!

Attend the IAR Inaugural Banquet 
Honor IAR's incoming president REALTOR® Michael D. Oldenettel, CRS, GRI of RE/MAX Plus, Inc., in Jacksonville and the 2012-2013 IAR Leadership Team at the black-tie optional event, Oct. 3 at Pheasant Run Resort in St. Charles. The deadline to order tickets is Monday, Sept. 24. Contact Bethany Barnes at Register@iar.org or at 1-800-252-2910.

REEF Election Slate
The Real Estate Educational Foundation will hold its Annual Business Meeting from 3:30-4 p.m., Oct. 1 at Pheasant Run Resort in St. Charles. The following individuals are being recommended for election: Diane Hammon, president; Robert Eby, vice-president; Deb Borgwald, director; Sue Miller, director; Leo Koulouris, director; Vicky Turner, director; Judy Doyle, director; Dale Taylor, director; and Young Brockhouse (IDFPR), director.


Sales and Marketing

Raise the Bar at REbarcamp - Oct. 2 in St. Charles
REbarcamp Illinois will focus on improving your business via online tools and technology. Whether you are just learning fundamentals of social media or are proficient at technology, this event is for you. Presented by Illinois YPN, REbarcamp Illinois will be held just prior to the IAR Fall Conference & Expo. What a perfect match for those who want to take advantage of both events and to hear from some of the BEST real estate minds in the business! Registration is free thanks to the generous sponsors. Register NOW!

5 Reasons to Buy a Home Now
Share this with your buyers! The KCM Blog highlights five reasons why now is a good time to buy a home, including skyrocketing rents and projections of home price increases. Read more


Market Stats and Research

August Illinois Home Sales Report Released Tomorrow
IAR will release its August home sales report at 8 a.m. on Wednesday. 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.

Trulia: Cheaper to Buy Than Rent in Many U.S. Cities
Buying a home is on average 45 percent cheaper than renting in the nation’s 100 largest metropolitan areas, according to a new rent vs. buy report from Trulia. In Chicago, it is 50 percent cheaper to buy if you plan on staying in the home for at least seven years. Check out an interactive rent vs. buy comparison map.

U.S. Foreclosures Rise in August; Illinois Has Highest Rate
U.S. foreclosures rose in August, due in part to judicial foreclosure states working through their backlog of delinquencies and defaults, according to the latest RealtyTrac report. For the first time, Illinois, a judicial state that requires foreclosures to go through the courts, posted the nation’s highest foreclosure rate.


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 webinar@iar.org. Live questions will be answered during the webinar, but priority will be given to those received in advance. 


Legislative & Advocacy

RVOICE Successfully Works to Change Tinley Park Crime Free Ordinance
Another RVOICE victory! This time in Tinley Park - where REALTORS® and local GAD Tom Joseph worked with the village to save single-family, two-units a costly $100 inspection fee and reworked a policy that is non-threatening for landlords and private property interests. Get the details in Fighting for You.

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 sclayton@iar.org. You can still give until Oct. 15 at www.RPACnow.com.  (Disclaimer: The Illinois REALTORS® Political Action Committee (RPAC) solicits contributions from IAR members only.)

Get Out the REALTOR® Vote!
The General Election is Nov. 6 so be sure to get out and support pro-REALTOR® candidates. NAR is urging REALTORS® register to vote this fall. Check to see if you are registered, learn how you can register or request an absentee ballot. Here are the key Illinois election deadlines to keep in mind:

  • Oct. 9 — Last day to register to vote in Illinois     
  • Oct. 10 - Nov. 3 — Grace period registration - in office of local election authority 
  • Oct. 22 - Nov. 3 — Early voting period      
  • Nov. 1 —  Last day for local election authority to receive absentee ballot application by mail
  • Nov. 5 —Last day to vote absentee in person at the local election authority

Events 

October 2-4
Register by midnight Sept. 19 for the IAR Fall Conference & Expo, Oct. 2-4, St. Charles. 

October 2
Commercial Training Opportunity in St. Charles.
 This special program at Pheasant Run Resort features sessions on identifying value and return on investment, the 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.

October 30 & 31
Save the Date. 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. Registration and details coming soon. Questions, call 217-529-2600.


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