The Illinois REALTORS® supported the Dearborn Realtist Chapter of the National Association of Real Estate Brokers (NAREB) at its 69th Annual Mid-Winter Regional Conference in Chicago last week.
The three-day conference ended with a Community Expo titled, “Community Wealth Building Day.” Vendors representing all aspects of the real estate industry were available to discuss different facets of buying and owning a home.
The Illinois REALTORS® at the expo told consumers about the availability of the Real Property Alliance website and the information it offers about:
- property taxes,
- local zoning or septic requirements,
- market data and
- proposals and legislation before the Illinois General Assembly that affects home and property ownership.
The site can be found at http://www.realpropertyalliance.org.
One of the highlights of the Regional Conference was the keynote speech from U.S. Rep. Danny Davis (Illinois 7th District). He expressed the importance of the real estate community and his long-standing history with the Dearborn Realtists. He said he shares NAREB’s passion to increase black home ownership by two million in the next five years.
NAREB released its 2015 State of Housing in Black America report recently which showed a trend of decreased home ownership for black America and predicted the trend will continue. NAREB has put energy behind its conferences and community events with the intention of turning the trend around. The conference in Chicago was the end of a four-stop tour that included Oakland, Calif., Memphis, Tenn., and Philadelphia, Pa.
Dearborn Realtist Chapter President Tracey Taylor stated, “This innovative conference concept was a great success for the Illinois region and Chicago. Black home ownership is so important today as we hope to inspire the average person to gain wealth through real estate.”
Chicago-area buyers paid cash for homes more than a third of the time, and the data released this week shows they paid 39 percent less per square foot during the first quarter of the year.
The findings are part of RealtyTrac’s Q1 2016 U.S. Cash & Institutional Investor Housing Market Report.
“While large institutional investors and other cash buyers continue to shrink as a share of U.S. home sales, these buyers still typically beat out traditional buyers using financing — in some cases even when they submit a lower offer for a home,” said Daren Blomquist, senior vice president at RealtyTrac. “Additionally cash buyers are often willing to take on properties in poor condition that may not readily qualify for standard financing, another reason why cash purchases normally sell at a lower price per square foot.
According to the report, 36 percent of home sales were for cash. RealtyTrac provides data-driven reports based on records of more than 130 million properties nationwide.
Read and share a new infographic from the National Association of REALTORS® (NAR), which takes a closer look at the U.S. housing market in March. A few takeaways: existing-home sales were up, pending home sales looked promising and properties averaged about 47 days on the market. Check out the infographic to learn more.
In other headlines:
Fewer all-cash home sales in first quarter – Crain’s Chicago Business
Rise in homeowner equity continues to stabilize housing market – Inman
Create a Home Listing Video Worthy of an Oscar—or an Offer – Realtor.com
Illinois REALTORS®’ Licensing and Training Center will have special Saturday hours to help Illinois brokers working to meet the April 30 deadline to renew their licenses.
The Licensing and Training Center will staff its help desk from 9 a.m. to 2 p.m. Saturday, April 30. You can reach it by calling 217-529-2600, or emailing the school at firstname.lastname@example.org.
There is a wealth of resources on the school’s webpages about the deadline and steps for renewal, which can be found here.
(l to r) REALTORS® Mike Onorato, Beth Stopka and Lori Bonarek present Diamond Mayor Teresa Kernc and two members of the Diamond Village Board (far right) with a $3,000 check. Local GAD Gideon Blustein (third from right) also joined in.
On April 26, the Three Rivers Association of REALTORS® presented a $3,000 check to the village of Diamond so that “pocket parks” could be constructed this summer, each with a handmade park bench constructed by a local Eagle Scout.
The donation will help pay for the labor and materials needed to construct the landscaped areas along a pedestrian path that will provide a safe route to local schools, parks and businesses for residents. Construction is expected to begin in late spring and end in mid-summer, according to local Governmental Affairs Director Gideon Blustein, who noted the money came from an NAR Placemaking Grant.
Three Rivers members on hand for the check presentation included Mike Onorato, Beth Stopka and Lori Bonarek.
Park benches were constructed and donated to the village last year by a local Eagle Scout.