IAR’s REALTOR® Party efforts garner Chairman’s Award from RPMIC

IAR President Mike Drews, former IAR president Michael Oldenettel and IAR RPIC Chair Ed Neaves shortly before Neaves and Drews presented on IAR's successes in getting members to use REALTOR® Party tools.

IAR President Mike Drews, former IAR president Michael Oldenettel and IAR RPIC Chair Ed Neaves shortly before Neaves and Drews presented on IAR’s successes in getting members to use REALTOR® Party tools. Photo: Jon Broadbooks

Update: IAR was recognized with a RPMIC Chairman’s Award for the association’s efforts to build use of REALTOR® Party tools. IAR President Mike Drews, who sits on the committee, and IAR RPIC Chair Ed Neaves, accepted the award.

Illinois REALTORS® shared the state association’s successes in marshaling support for Calls for Action at a Friday, Nov. 13, 2015, meeting of the REALTOR® Party Member Involvement Committee.

The committee heard from IAR President (and RPMIC member) Mike Drews and Illinois Association of REALTORS® RPIC Chair Ed Neaves as they shared how they incorporated strategic planning into the association’s approach to getting members to use REALTOR® Party tools.

Neaves spearheaded an effort earlier this year to bring local association leadership to Springfield for a day-long planning session during which members plotted strategy for the next year. Those attending analyzed their political outreach efforts, then crafted a calendar to guide them through the year ahead.

The effort yielded impressive results.

Previous Calls for Action had garnered at most a 15 percent member response, but more typically the responses were below 10 percent on national Calls for Action. After the training, the association’s latest Call for Action on so-called G Fees soared to nearly 30 percent.

In all, 10,000 IAR members answered the latest Cal for Action and the numbers are still climbing. The response rate, proportionally, beat out larger states including Florida, Texas and California.

Drews and Neaves told the national committee members about what they learned from the process, and provided the resources for brokers to replicate the program in their local and state associations.

IAR members take part in federal issues round table

IAR members take part in a meeting

IAR members take part in a Federal Policy Round Table session at the NAR Conference & Expo in San Diego on Nov. 12, 2015. Photo: REALTOR® Jeff Gregory

Several members of IAR’s Illinois Federal Political Coordinator team were in attendance at the NAR Convention federal policy round table discussion.

U.S. Rep. Brad Sherman, D-Calif., shared his thoughts on the importance of our grassroots efforts and also complimented the REALTORS® on the exceptional job NAR does in conveying the importance of real estate issues to members of Congress.

For more information on the FPC program visit this page.

Illinois REALTOR® Silvano honored as AREAA national chairwoman


The Illinois Association of REALTORS® helped honor Vicky Silvano this past weekend at the Asian Real Estate Association of American’s convention in San Francisco. Silvano was named national chairwoman of the organization at the event which was attended by a number of Illinois REALTORS®. From left, IAR Immediate Past President Jim Kinney, IAR President-elect Doug Carpenter, Silvano, IAR President Mike Drews and IAR CEO Gary Clayton. Photo/Sharon Gorrell.

The 2015 Asian Real Estate Association of America wrapped up its convention in San Francisco over the weekend, but not before celebrating the installation of Illinois REALTOR® Vicky Silvano as the association’s national chairwoman.

Snip20151026_6Silvano, a broker at Century 21 SGR in Chicago, was honored by several hundred of her industry colleagues at the event’s Gala.

Showing their support for Silvano were IAR President Mike Drews, President-elect Doug Carpenter, Immediate Past President Jim Kinney, IAR CEO Gary Clayton and Housing Policy Advisor and Global Work group staff liaison Sharon Gorrell.  Several members from the Mainstreet Organization of REALTORS® and the Chicago chapter of AREAA also attended.

The event began with a moving presentation which shed light on the continued and often overlooked problem of discrimination of Asian Americans and the lack of recognition Asians have been given for their historic contributions to the U.S. The presentation highlighted the construction of the Transcontinental Railroad, a project which involved large numbers of Chinese laborers. There were exhibits, presentations and several materials distributed on this topic and the Chinese Historical Society was there to answer questions.

Another notable component to the session highlighted Asian identity.  Through a campaign called “No Other” AREAA has taken the lead to discuss ethnic classifications within the U.S. Census for the Asian community rather than use of the term “other” in certain data fields.

There were several breakout sessions and panel discussions that highlighted topics on professional development, global business and public policy.  Access to credit and better credit scoring models was a focus of interest in addition to the future of the EB-5 visa program.

Senior housing and commercial lending discussions drew large crowds given the increasing level of demand for both.  Top producing Illinois REALTORS® Teresa Ryan of Ryan Hill Realty and Danielle Moy of Coldwell Banker were panelists at the event.

Strong housing sales, pricing gains seen for September in Illinois

Illinois housing stats for September, 2015. (c) Illinois Association of REALTORS®

Illinois housing stats for September, 2015. (c) Illinois Association of REALTORS®

Positive housing market momentum carried into September with home sales and median prices experiencing healthy year-over-year gains as Illinois headed into the fall market, according to the Illinois Association of REALTORS®.

Statewide home sales (including single-family homes and condominiums) in September 2015 totaled 13,794 homes sold, up 5.6 percent from September 2014 when 13,058 homes sold.

The statewide median price in September 2015 rose to $172,000, a 6.2 percent gain over September 2014’s statewide median price of $162,000. The median is a typical market price where half the homes sold for more and half sold for less.

“The fall housing market has shown little sign that there’s any significant weakening in demand,” said Mike Drews, GRI, President of the Illinois Association of REALTORS® and broker-associate with Charles B. Doss & Co. in Aurora. “While we always see a seasonal slowdown this year, this month’s numbers were quite strong, and indeed were the best sales numbers for September in a decade.”

The time it took to sell a home in September averaged 64 days statewide, down from 69 days a year ago. Available housing inventory remained tight with 70,547 homes for sale, a 10 percent decline from September 2014 when there were 78,373 homes.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central Region was 3.90 percent in September 2015, the same as it was the previous month, according to the Federal Home Loan Mortgage Corp. In September 2014 it averaged 4.16 percent.

In the nine-county Chicago Primary Metropolitan Statistical Area, home sales (single family and condominiums) in September 2015 totaled 9,753, an increase of 5.3 percent from the 9,261 sales in September 2014.

The median price in September in the Chicago PMSA was $207,570, up 6.4 percent from $195,000 in September 2014.

“The annual pattern of home sales continues with modest annual gains but negative month-over-month growth rates,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois.  “The dampening effect of less-than-expected job growth has not yet affected the housing market and housing prices continue to climb modestly.  At the state level, the median price index, adjusted for inflation, is 91 percent of the 2008 peak; for Chicago, the comparable figure is 86 percent.”

Nearly half of state’s counties see sales gains

According to the data, fifty (50) Illinois counties reported sales gains for September 2015 over previous-year numbers, including Tazewell County, up 36.5 percent with 187 units sold; Champaign County, up 17.1 percent with 212 units sold; Peoria County, up 10.7 percent with 238 units sold; and DuPage County, up 8.5 percent with 1,170 units sold.

Fifty-four (54) counties recorded median price gains in September 2015 over previous-year numbers, including Madison County, up 25 percent to $130,000; Kendall County, up 17.6 percent to $200,000; and Cook County, up 7.6 percent to $215,000.

The city of Chicago saw sales of 2,358 homes in September 2015, up 5.2 percent from last year when 2,242 homes were sold. The median price of a home in Chicago was $250,000, up 0.4 percent over September 2014 when the median price was $249,000.

“With increased sales and even stronger median price numbers, the Chicago market still shows a lot of life as we enter the last few months of the year,” said Dan Wagner, president of the Chicago Association of REALTORS® and senior vice president of government relations for The Inland Real Estate Group. “The continued low number of homes available for sale shows consumers are still very much interested in buying.”

Sales and price information is generated by Multiple Listing Service closed sales reported by 29 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC as of Oct. 7, 2015 for the period of Sept. 1 through Sept. 30. The Chicago PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

The Illinois Association of REALTORS® is a voluntary trade association whose 43,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS® works to protect the rights of private property owners in the state by recommending and promoting legislation to safeguard and advance the interest of real property ownership.

Find Illinois housing stats, data and the University of Illinois REAL forecast at www.illinoisrealtor.org/marketstats.

Register Now for Upcoming Courses for Commercial REALTORS®

PrintChanges in leasing accounting standards may benefit REALTORS®. Proposed FASB/IASB rule changes now under review would require companies to report all of their leases on their financial statements and may impact their financial ratios. The proposed rules would treat a lease similar to owning the property, which may change not only how you look at a lease on the balance sheet but how you do business as well. Business owners may ask, “If there is no benefit to leasing from a GAAP reporting standpoint, maybe we should consider buying our real estate?”

Hear CCIM’s perspective on the positive impact of these changes for the commercial real estate professional and be prepared if these changes go into effect. Register now for CCIM’s live virtual session “The New Leasing Accounting Standards – Land of Opportunity?” October 20, 2015 from 12 p.m. – 1:30 p.m. CST. REALTORS® receive a discounted registration rate of $110 (log in to receive lower rate).  

Champaign County Commercial REALTORS® will also be interested in Tom Lundstedt’s classroom course October 21 in Savoy, Ill. “Big League Hardball: An Advanced Workshop for Commercial Investment REALTORS®.” Call 217-356-1389 for more information and to register.