Illinois REALTORS® in vanguard of those building successful RPAC effort

Illinois REALTORS® Chris Tenggren, Dan Wagner and Michael Onorato are attending a REALTOR® Party conference in Florida.

Several Illinois REALTORS® are in Naples, Fla., this week learning the latest about the REALTORS® Political Action Committee’s efforts.

Among those at the REALTOR® Party training session are Dan Wagner, president of the Chicago Association of REALTORS®; Phil Chiles, former IAR president; Michael Onorato, also a past IAR president; Chris Tenggren and Mabél Guzmán.

The Illinois delegation is learning the latest ways to drive home RPAC’s messages of protecting the real estate industry and private property rights. The training looks at the best ways to raise money for the political action committee.

The training comes as IAR gets ready to close out the fundraising year for RPAC. If you haven’t made your donation to protect the industry, you can go here to do so.

(Disclaimer: The Illinois REALTORS® Political Action Committee (RPAC) solicits contributions from IAR members only.)



Brookfield changes home inspection ordinance for resale

Yellow road sign with turn symbol isolated on white background

Image courtesy of Bigstock

The resale of Brookfield single-family homes and multi-unit homes with three units or less is exempt from the village inspection process due to a new requirement for private home inspections and certification, says Tom Joseph, local IAR Government Affairs Director.

“We consider this a very unique and different process,” Joseph says. “The village had required a ‘point-of-sale’ inspection but is now relinquishing this requirement and RVOICE helped assure a more equitable process. In this new process, the village is not requiring private inspection reports to be filed with the village or attempting to hold up sales. The board just wants it documented that PRIVATE home inspections take place.”

Tom Joseph

Tom Joseph

According to Brookfield’s amended ordinance, private home inspectors must certify that sellers’ properties have been inspected according to Illinois licensing standards as well as those set by either the American Society of Home Inspectors or the National Association of Home Inspectors, Inc. Inspectors fill out the Resale Certification of Compliance form and share written private inspection reports with purchasers. Joseph says the reports are not required to be shared with the village.

To comply with the amended ordinance, the sellers must certify that a private home inspection was completed with the village, says Joseph, who is happy that Brookfield no longer is performing point of sale inspections in these circumstances. “We have dozens of local governments that conduct local home inspections, and they often lead to buyers walking away from purchases,” he says.

Morning Minute: Freddie Mac offers six quick steps to boost your credit



Thinking about buying a home? Get to work on building your credit now and it could help you get ready for the spring homebuying season, according to Freddie Mac executive Danny Gardner. In a recent blog post, Gardner covers six practical steps consumers can take to improve their FICO score. Two ideas: Establish credit independently of your spouse or partner and open a checking and savings account if you don’t already have one. Read more.

In other headlines:

FHFA announces 2016 conforming loan limits – HousingWire

The Mortgage Balancing Act: What You Spend vs. What You Make –

Half-Priced Homes from HUD: What to Know – NAR Daily Real Estate News

Morning Minute: Pending home sales headed slightly higher in October

After two months of declines, U.S. pending home sales headed back into positive territory, rising 0.2 percent in October compared to the month before. The news is even better when comparing year-to-year with pending sales climbing 3.9 percent higher than last year, according to the National Association of REALTORS® (NAR), which released its Pending Home Sales Index today. Read more.

In other headlines:

Rent vs. Buy: Either Way You’re Paying A Mortgage – KCM Blog

2015 Home Buying Trend: Purchasing Larger Homes – NAR