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Did you know there are incentive payments for borrowers and servicers who pursue a short sale or deed-in-lieu of foreclosure under the Home Affordable Foreclosure Alternatives Program (HAFA)?

Learn more these and other short sale guidelines under the HAFA program with these FAQs from NAR.

5.0%

0.6 points - Average 30-year fixed-rate mortgage for the North Central Region from Freddie Mac

December 22, 2009

Illinois home sales up 64.0 percent statewide in November. Pent-up buyer demand plus low interest rates and the homebuyer tax credit incentive yielded a second month of double-digit gains for Illinois home sales in November, according to the latest IAR home sales report. Total home sales were up 64.0 percent statewide and 71.6 percent in the Chicago region. Get market talking points and U of I forecast.

Onerous partnership tax repealed. On December 16, Gov. Pat Quinn signed House Bill 2239 into law, repealing an amendment to the Illinois Income Tax Act affecting real estate partnerships and LLCs.

Read the new Illinois REALTOR® digital magazine on your iPhone. View the January digital issue of Illinois REALTOR® Magazine, now also accessible by your iPhone. You’ll find a “7 Step Action Plan for the Tax Credit and tips on what you should be doing in the “The Next 90 Days.”

Get your copy of the 2010 Code of Ethics. The 2010 Code of Ethics and Standards of Practice of the National Association of REALTORS® is now available for download. You can also print a color poster of the REALTOR® Code of Ethics to display in your office.

Learn more about HouseLogic. Watch this video with NAR President Vicki Cox Golder on how REALTORS® can build relationships with consumers through the new HouseLogic.com, NAR’s new consumer Web site.

REALTOR® confidence in single family market rises. In the latest REALTORS® Confidence Index Survey, the single-family home sales outlook improved significantly towards “moderate confidence.”

Inland Real Estate Group wins business award. The Inland Real Estate Group of Companies, Inc. was honored on December 3 with the 2009 Torch Award for Marketplace Ethics by the Better Business Bureau (BBB) serving Chicago and Northern Illinois.

Make the most of your fourth quarter. Get Dirk Zeller’s keys to an effective business plan from REALTOR® Magazine Online.

Analyze your online lead success. Divide your annual revenue by the number of completed Web site lead forms and the sources to get a better idea of where your online leads are coming from and how much business they are bringing, according to a recent Inman News article.

Right Tools, Right Now. FREE download of the consumer brochure, “Protect Your Family from Lead in your Home.” Find quick industry statistics with NAR’s Field Guide for Quick Real Estate Statistics.

IAR wishes you a happy holiday season! IAR headquarters in Springfield will close at noon on Thursday, Dec. 24 and will be closed all day December 25 in observance of the Christmas holiday.

Legal Hotline closed Dec. 28-January 1. The hotline reopens on Monday, January 4.

Calling all bloggers. Are you a real estate blogger? We’d like to know more about you and your blog. Send us an email.

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