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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

February 26, 2013

Industry News and Trends

Illinois Supreme Court Rolls Out New Foreclosure Rules
On Feb. 22, the Illinois Supreme Court announced new rules establishing a uniform protocol when it comes to the foreclosure process. Among the rules outlined in the court's news release:

  • Lenders must provide homeowners with information about the process and consequences of foreclosure.
  • Lenders must seek modifications with eligible homeowners before completing a foreclosure. 
  • Improved legal notices to owners are required throughout the process and before a foreclosure sale.
  • Illinois Circuit Courts with mediation programs will be required to provide resources for HUD-certified consultation, free legal help and language interpretive services to those eligible and in need of them.

Find media coverage of the new rules in the Chicago Tribune article, "New rules to govern Illinois foreclosures," and in the State Journal-Register, "Illinois Supreme Court issues rules on foreclosures."

IHDA Open House Tour April 7
The Illinois Housing Development Authority (IHDA) is organizing an Open House Tour on Sunday, April 7. Up to 500 pre-qualified buyers will be touring vacant properties in the select communities of Berwyn, Blue Island, Chicago Heights, Cicero, Crest Hill, Joliet, Lockport, Lynwood, Maywood, Melrose Park, Park Forest and South Holland. If you are interested in opening up your vacant property(ies) from noon - 4 p.m. that day, please submit the MLS listing and photos of the property to by March 1.  Properties must be vacant, single-family homes in the above communities and should have listing prices of $200,000 or less and be free of health and safety violations.  For additional information, call Gabriela Ortiz at IHDA at (773) 292-5784.

Education and Training

Register Now for Broker Management CE Webinars
Take advantage of IAR's 12-Hour Broker Management CE webinars just in time for the April 30 Managing Broker renewal deadline.  IAR offers the classes in an interactive online format for $159, or you can attend the classroom sessions at the Association’s Springfield office for $139. The sessions will be: 

IAR Webinar: Learn About Fannie Mae's HomePath Short Sale Process
Register now for a March 21 webinar on Fannie Mae short sales. You'll learn more about the Standard Short Sale guidance announced by Fannie Mae and how to work with homeowners pursuing a short sale. Click here to register.

Legislative & Advocacy

Video: Legislative Update from Springfield
IAR lobbyists Greg St. Aubin and Julie Sullivan offer a video recap of the first week of the spring legislative session and highlight issues to watch. Among the hot topics is a crime-free housing bill, which IAR opposes. It would allow counties and municipalities statewide to license rental property owners. Watch and share the video and read the latest State Capitol Report.

RPAC Stick Horse Derby - a FUN Fundraiser for Your Office or Association
Take the example set by REALTOR® Karen Robertson/Three Rivers Association of REALTORS® with their derby horse "REO Speedwagon." They raised $1,500 for RPAC last year by selling business card space on the horse's costume with a donation of $20 to RPAC. Contact Carie Cycholl  to get your horse for the 4th Annual RPAC Stick Horse Derby April 17 at the Hilton Springfield held in conjunction with IAR Business Meetings and the REALTOR® of the Year Banquet in Springfield. (Disclaimer: The Illinois REALTORS® Political Action Committee (RPAC) solicits contributions from IAR members only.)

Get Involved at the Illinois Housing Leaders Conference and IAR Capitol Conference
Plan on attending this event April 15 & 16  in Springfield and meet with legislators and the Illinois General Assembly's leadership at the State Capitol to lobby for private property and business rights. Register by April 3 - just $60 for both days!

Legal Issues

Feb. 28 IAR Legal Webinar: Who’s My (Sponsoring) Broker or Which Team Am I On?
Join IAR Chief Legal Counsel Steve Bochenek and Legal Hotline Attorney Betsy Urbance at 9:30 a.m., Thursday as they discuss issues involving teams, brokerage company affiliations, sub-contracting and related issues in this one-hour legal webinar. Save time the morning of the event by testing your IAR member login now to make sure you don't have any trouble logging in. 

Sales and Marketing

Painting? Say No to Lemon Yellow
Pure, bright lemon yellow is one of the worst colors to use when painting a home. Babies cry more and couples fight more in a bright yellow room as it irritates the eye, according to color research. Learn more about other colors to avoid in NAR's Styled, Staged & Sold blog.

Download Last Week's "Office Anywhere" Webinar
If you missed IAR's one-hour educational webinar with technology trainer G. William James, download a recording of the webinar available to IAR members only (login required). James talked about free services to enhance your ability to sell and market. Mark your calendars for the March 14 webinar with Doug Devitre who will offer tips on maximizing your time.

Multicultural Summit: Opportunities in the Caribbean and South Africa
Expand business opportunities both here and across the globe! IAR’s fourth in the series of multicultural programs designed to help Illinois commercial and residential REALTORS® gain new global partnerships for business development and marketing. Just $25 for this half-day program April 26 in Oak Brook. Register online today.

Market Stats and Research

Illinois Housing Gains Continue Into New Year
Illinois home sales jumped 31.1 percent over previous-year levels in January and the statewide median price increased 1.2 percent, according to IAR's latest housing report. Said IAR President Michael D. Oldenettel: “The steady improvement we saw through much of 2012 seems to be continuing in 2013. All the numbers we track show that Illinois appears to be on the way to a real and sustained housing recovery.” Find talking points, the forecast and county-by-county information with an interactive map and sortable stats in Members Only Market Stats (login required).


March 1
NSBAR Mini-Convention is March 1. Come see IAR and get in the RPAC raffle in the Expo at the NSBAR Mini-Convention "Take Charge of Your Tomorrow" on Friday, March 1, 9 a.m. to 5 p.m. at the Northbrook Hilton. Click here to register.  (Disclaimer: The Illinois REALTORS® Political Action Committee (RPAC) solicits contributions from IAR members only.)

March 27
Early bird deadline for IAR Spring Conference, May 8-9 in Collinsville. Register now and IAR members pay only $99.

April 15 & 16
The Illinois Housing Leaders Conference and the Capitol Conference "REALTOR® Lobby Day" will be held in Springfield. 

April 17 
REALTOR® of the Year Banquet. Join the Illinois Real Estate Educational Foundation and IAR in honoring the 2013 Illinois REALTOR® of the Year and all local Board REALTORS® of the Year on April 17 in Springfield. Order your dinner ticket by April 3.

April 16-18
IAR Business Meetings will be held in Springfield. 

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