Morning Minute: Illinois REALTORS® make progress on Murphysboro Habitat build

Murphysboro’s strong Habitat for Humanity organization is one of the reasons the southern Illinois community was chosen to be the site of one of three IAR Habitat builds in Illinois this year, IAR President Phil Chiles told the local newspaper, the Murphysboro American. Read the full article and find out how you can help.

“As realtors we are all about home ownership,” said Chiles, “there is no better way to show people how much we care than to build homes.”

REALTOR® Jan Mandis, president of the Egyptian Board of REALTORS®, was also interviewed and said this is her first time helping with a Habitat build and the hands-on construction experience has given her a new perspective.

“It’s wonderful that they do this,” Mandis said, “It’s just good people doing good things.”

In other headlines:

It’s a buyer’s market for Midwest vacation homes – Chicago Tribune

Numbers backing up Realtors, homebuyers who claim market is finally on rebound – News-Gazette

Buyers in survey crave dining rooms, tubs – Chicago Tribune

Morning Minute: Getting Boomerang buyers back in homes of their own again

Boomerang homeowners who lost their homes to foreclosure or short sale during the recession, may not have to wait as long to qualify to buy a home again, under the Federal Housing Administration’s (FHA) Back to Work Program. Instead of waiting as long as 36 months to qualify for an FHA-backed loan, the agency’s program has shortened it to as little as 12 months. Read more from NAR.

If you are a REALTOR® working with today’s boomerang buyers, find presentations and resources from IAR’s recent Illinois Housing Leaders Conference, which featured the topic, “Helping Boomerang Buyers Get Back in the Market.”

In other headlines:

Sprinkler Mandate Poses Question Of Cost Vs. Safety – WICS TV

Mortgage Rates Go Up Then Drop Back Down After Release Of FOMC Minutes – WAND TV

 

Morning Minute: Chicago most affordable metro housing market for 2014

The Chicago metro area ranks No. 1 when it comes to affordable housing markets for 2014, according to a list from ZipRealty, NAR reports.

ZipRealty, a real estate brokerage firm, looked at 30 major U.S. metro areas and compared median home prices with family income data to rank the top 10 most affordable markets. Chicago outranked other cities on the affordable list such as Philadelphia, Orlando, Dallas and Tucson. Read more.

In other headlines:

NAR, Trade Groups Urge FAA to Clarify Drone Use – REALTOR® Magazine

Foreclosure activity at lowest level since 2Q 2007 – HousingWire

Foreclosures pick up in March from prior month – Chicago Tribune

Sign petition showing support for responsible fire sprinkler policy

Illinois REALTORS®, sign this petition supporting House Bill 4609 for responsible fire sprinkler policy and ask your clients to sign too!

The Lakefront Coalition for Responsible Fire Sprinkler Policy petition sends a show of public support for state Representative Sara Feigenholtz’s bill, House Bill 4609, which prohibits the State Fire Marshal from adopting by administrative rule a new state mandate requiring fire sprinklers in buildings. House Bill 4609 places the decision on whether to impose such a mandate in the hands of the General Assembly, or elected officials at the local level, who are accountable to voters.

“The Lakefront Coalition began in the district of the chief sponsor of House Bill 4609, Representative Sara Feigenholtz. We urge people from all over the state to join in this effort to send a strong STATEWIDE message of support for House Bill 4609. The IAR strongly objects to efforts to impose costly and onerous fire sprinkler mandates without legislative review first,” said Julie Sullivan, director of legislative and political affairs for the Illinois Association of REALTORS®”

Sign and share the Lakefront Coalition for Responsible Fire Sprinkler Policy petition today!

 

Morning Minute: Chicago makes list of top luxury markets

Chicago ranked among the top 10 U.S. cities with the highest number of luxury home sales (properties selling for $1 million or more) in a report by Coldwell Banker, REALTOR® Magazine reports. Read more.

In other headlines:

Freddie Mac index helps track stability of housing market – Chicago Tribune

Shadow Inventories Are Quickly Vanishing, Report Says – REALTOR® Magazine

White House pleased with HAMP, housing efforts – HousingWire