Illinois home sales increased 25.3 percent over previous-year levels in April and median prices increased 7.7 percent, according to the Illinois Association of REALTORS®. Statewide home sales in April 2013 totaled 12,621 homes sold, up from 10,076 in April 2012. This was the best April performance since 2007. The statewide median price in April was $145,900.
“The spring numbers are very encouraging, especially as we see substantial tightening of the numbers of homes on the market,” said Michael D. Oldenettel, CRS, GRI, president of the Illinois Association of REALTORS® and Managing Broker/Owner with RE/MAX Results Plus in Jacksonville, Ill. “While prices are inching up slightly due to strong demand, the interest rates continue to be a powerful lure for those who want to own a home and the spring housing market looks to be a strong one.”
Federal Political Coordinators area heading to Washington, D.C., this week to take part in a week of efforts to make the REALTOR® voice heard on Capitol Hill.
The FPCs, as they are called, will be taking part in the Midyear meetings held annually in the spring by the National Association of REALTORS®. This year they will get a chance to talk to elected officials about the need to make sure lending standards are favorable for prospective homebuyers, among other issues that affect IAR’s 41,000 members.
The Illinois Association of REALTORS® has FPCs assigned to every congressional district and the state’s senators. Their job is to forge relationships with elected officials at the federal level and to be a ready source of information about the housing market and its impact on the U.S. economy.
To learn more about the FPCs and the important role they play in protecting REALTOR® livelihoods, go to www.illinoisrealtor.org/government/fpc.
Look for updates on what the FPCs are up to as the week progresses.
Five $10,000 grants will be awarded!
REALTOR® Magazine is seeking nominations for its 14th annual Good Neighbor Awards. The National Association of REALTORS®’ annual program recognizes REALTORS® who’ve made an extraordinary commitment to their communities through volunteer work.
Five winners will be announced this fall at the REALTORS® Conference & Expo in San Francisco. The winners will receive a $10,000 grant for their community cause.
In small towns and large cities across the country, REALTORS® help shape and promote community values, giving their time and effort to noble causes. Last year in Illinois, REALTOR® Charlene M. Brennan of Strano & Associates Real Estate in Fairview Heights was among the 10 finalists for the award, nominated for her work helping serve the Rotary District 6510′s Belizean Children’s Program. And in 2007 Illinois REALTOR® Virginia Ferry received the award for her community service to the MorningStar Mission Ministries in Joliet.
Previous Good Neighbor Award winners say their charities benefit from the grant money and the increased public exposure.
Good Neighbor Award entries must be received by May 20, 2013. For more details and entry form visit www.realtor.org/gna.
Illinois home sales increased 13.6 percent over previous-year levels in March and median prices increased 3.6 percent, according to the Illinois Association of REALTORS®. Statewide home sales (including single-family homes and condominiums) in March 2013 totaled 10,992 homes sold, up from 9,679 in March 2012. Statewide sales have posted monthly year-over-year gains since July 2011.
“We are entering what is traditionally the busiest period of the year in the real estate market,” said Michael D. Oldenettel, CRS, GRI, president of the Illinois Association of REALTORS® and Managing Broker/Owner with RE/MAX Results Plus in Jacksonville, Ill. “The decreasing time it takes to sell a home, coupled with shrinking inventories shows there is keen interest on the part of homebuyers who are rushing to lock in favorable interest rates and take advantage of low, but increasing prices.”
Congratulations to the 2013 REALTORS® of the Year who will be honored at tonight’s awards banquet, sponsored by the Illinois Real Estate Educational Foundation. The banquet is held in conjunction with the business meetings of the 41,000-member Illinois Association of REALTORS® in Springfield, Ill.
The banquet is sponsored annually by the Foundation to honor local award recipients and the Illinois REALTOR® of the Year. The 2013 Illinois State recipient is John Vranas. Contributors of the Foundation will also be recognized at the banquet.
The Illinois Real Estate Educational Foundation is a not-for-profit organization established in 1970 to promote real estate education throughout Illinois. Voluntary contributions from organizations and individuals support the Foundation.
Awarding academic scholarships is a major activity of the Real Estate Educational Foundation (REEF), providing financial support to talented college students and real estate professionals. The Foundation’s aim is to promote and assist suitable standards of education in all aspects of the field of real estate. Since 2000, REEF has awarded more than $347,300 in scholarships. These awards have helped Illinois real estate professionals fulfill their educational dreams and pursue careers in the real estate industry.