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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

May 1, 2012

Post-Transition Era and What it Means to You

April 30, 2012, was the deadline to submit paperwork to the Illinois Department of Financial and Professional Regulation (IDFPR) for transition for Salespersons and for Brokers who needed to transition to Managing Broker or stay a Broker and renew. IDFPR and IAR have information to help real estate professionals after transition.

Sales and Marketing

Still Time to Jumpstart Your Spring in Collinsville
Don't miss your last chance to get motivated, earn up to six hours CE, network with your peers and check out the latest products and services at the IAR Spring Conference and Expo this Wednesday and Thursday in Collinsville. Walk-in registration is still available for $129.

Spring Housing Trends to Watch 
More buyers will get off the sidelines this year and get into the housing market, while mortgage interest rates are likely to go up but not skyrocket this year, according to See what other mortgage and housing trends Bankrate is predicting for 2012. 

Legislative & Advocacy

Call to Action on SB 3167 a Success!
Thank you to everyone who participated in IAR's recent call to action on SB 3167, an initiative of the Lake County Board to authorize an additional $5 surcharge on all recorded real estate documents to establish an affordable housing trust fund.   More than 1,400 e-mails were sent to members of the Illinois Senate in OPPOSITION and as a result, the sponsor chose NOT to call the bill for consideration. Read more in the latest State Capitol Report

Market Stats and Research

NAR: March Pending Home Sales Rise, Market Recovering
March pending home sales increased 4.1 percent over the month before and were 12.8 percent above a year ago, according to NAR's latest Pending Home Sales Index. NAR Chief Economist Lawrence Yun said, "The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses." Hear what else Yun has to say about the market in this NAR video.

RealtyTrac: Short Sales Could Reach Record Levels in 2012
Short sales are beginning to outnumber foreclosures in some parts of the country and Daren Blomquist, vice president of RealtyTrac says 2012 could be a record year for short sales. In Q4 2011, short sales were up 15 percent from the previous year, according to a RealtyTrac report.

  • Short sales by state. Short sales accounted for 13.07 percent of all sales in Illinois, according to RealtyTrac. See how Illinois compares in this state-by-state infographic from the KCMblog. 

Industry News and Trends

Real Estate Agent Makes Best Jobs List
Real estate agent ranked #19 in U.S. News and World Report's list of the top 20 Best Business Jobs of 2012. The Bureau of Labor Statistics projects a 12.2 percent employment growth for real estate agents by 2020.

They're Back! Bidding Wars That Is
In some markets, the lower levels of inventory are bringing back something not seen in awhile: bidding wars on sought after properties, the Wall Street Journal reports


May 17
REALTORS® Plan Rally to Protect the American Dream
Wear REALTOR® blue and join your colleagues in Washington, D.C., May 17 to promote property rights and homeownership. The Rally to Protect the American Dream will be held on the National Mall in the shadow of the Washington Monument. It's part of the NAR Midyear Legislative Meetings and Trade Expo.

June 1
Interested in Serving on an IAR Committee, Working Group or Task Force in 2013?

Download the committee sign up form. Complete the form and return by June 1, 2012.

June 18-22
LANDU Education Week in Chicago

Take up to five classes in one week toward the Accredited Land Consultant designation during the REALTORS® Land Institute's LANDU Education Week, June 18-22 in Chicago.

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