Real Estate News
C.A.R. Offices will be Closed on Thursday, November 26 and Friday, November 27
C.A.R. offices will close in observance of Thanksgiving. Offices will reopen on Monday, November 30, returning to normal business hours of 8:30 A.M. - 5:00 P.M
IHDA Lowers Rate on The Home Start Program
Due to the changes in the market, IHDA is lowering the rate on the 30 year Home Start Loan to 5.25% effective Thursday September 10. More about Home Start
Get Fannie Mae E-Mail News Updates
Fannie Mae has introduced "E-mail News" to help real estate professionals stay updated on new policies, products and other topics important to their business. If you're interested in keeping up with important news and information on Fannie Mae REO, short sales, local events, policy announcements, and more, please sign up here . This service is free and you may unsubscribe at any time.
MRED System Maintenance Update
On Friday, April 24 between the hours of 6:00 P.M. and 5:00 A.M. Saturday, April 25th, maintenance is being performed on the buildings electrical and buss duct systems. The maintenance requires all power to the building to be shutdown during this timeframe. During the maintenance window on April 24, MRED subscribers will be redirected to the dynaConnections connectMLS Limited Read-Only, maintenance backup site in Austin, restoring normal operations early Saturday morning when building maintenance is complete.
Functions Available to MRED Members During Scheduled System Maintenance:
- Property Listings
- Search
- View & Print Listing Reports
- Print Driving Directions
- Export Listing Information to a file
- Client/Contact Information
- Lookup & View Your Clients' Basic Information
- Print Contact Information
- Export Contact Informatin to a File
Functions NOT Available During Scheduled System Maintenance:
- Client Access -- While the system is undergoing maintenance, your clients will NOT be able to view any property information you sent to them. Instead, they will be directed to a web page where they will see a message informing them when they can next access the information you sent
- Listing Input
- Automated/Prospecting Searches
- Property Listing Emails
- CMA, Forms, Transaction Management, etc are also not available on the Read Only system
If you have questions regarding this please call the Help Desk at 630-955-2755.
C.A.R. Peterson Office Closed as of Friday, January 16, 2009
After more than 35 years, the C.A.R. North branch location at 2625 W. Peterson Ave., has closed due to its recent sale. Branch operations at that facility ended on Friday, January 16.
.View Additional C.A.R. Locations to Visit
C.A.R. Mourns the Loss of Steven L. Good
It is with deep sadness that we share with you news that Steven L. Good, CEO of Sheldon Good and Company, has passed away. His tremendous contribution to the Chicago Association of REALTORS®, and to the real estate industry, will live on as a tribute of his life’s work and passion.
We extend our sincerest sympathies to his family, friends and colleagues who will truly miss Steve’s presence.
We will forward you further details about funeral arrangements as they are made.
C.A.R. Launches New Blog
After much research and discussion, the Chicago Association of REALTORS® is proud to launch its first official Chicago REALTORS® Blog. The blog is your chance to participate in dialogues with C.A.R. leadership on issues and topics relevant to your everyday business. Regular contributors include President Dave Hanna, President-Elect Genie Birch, Treasurer Mabel Guzman, and Government Affairs Director Brian Bernardoni.Connect with Leadership via our C.A.R. Blog
The Truth Behind the Myths- Videos from Member Outreach 2008
Approximately 450 people were in attendance at the October Member Outreach Event, making this one of our most successful outreach events yet! View videos of the event to learn how the Federal Bailout package impacts Chicago and mortgage lenders as well as the truth behind the myths of mortgage lending in today's market. The Truth Behind the Myths- Videos from Member Outreach 2008
"C.A.R. President Mike Golden Speaks to NBC5 about the Chicago Housing Market"
C.A.R. President Mike Golden takes on Zillow’s interpretation of the Chicago market on NBC 5. Watch now
“Housing and Economic Recovery Act of 2008” Update
On Saturday, July 26th, the U.S. Senate passed H.R. 3221 (the “Housing and Economic Recovery Act of 2008”) by a vote of 72-13, three days after the House of Representatives passed the bill, 272-152. The President, reversing his earlier opposition to the bill, is expected to sign H.R. 3221 into law tomorrow, Tuesday, July 29th.
The bill includes important GSE and FHA reform initiatives, a $7,500 homebuyer tax credit on purchases made between April 8, 2008, and June 30, 2009, FHA foreclosure rescue, seller-funded downpayment assistance programs, and much more. More Information Regarding the Bill
Bush Drops Opposition to Housing Bill
Congress is moving quickly to pass a housing package that aims to help 400,000 strapped homeowners avoid foreclosures and prevent Fannie Mae and Freddie Mac from collapsing. Read the New York Times Article Here
NAR President's Podcast Explains NAR/DOJ Settlement
NAR President-Elect Charles McMillan sits down with NAR Chief Lobbyist Jerry Giovaniello to discuss the importance of the Housing Stimulus legislation currently pending on Capitol Hill to REALTORS®. Watch the podcast.
NAR President's Podcast Explains Housing Stimulus Update
NAR has posted a new video edition of the NAR President's Podcast explaining the settlement between NAr and the Department of Justice regarding the Virtual Office Web site (VOW) policy. In the podcast Richard F. Gaylord, 2008 NAR President, explains in simple terms the settlement and what members will need to do to comply when the agreement is finalized later this summer. Watch the podcast.
River North gets new ZIP code
A new ZIP code has been assigned for all addresses south of Chicago Avenue that had been using the 60610 ZIP Code. Read the Full Crain's Story here The new ZIP code has been added as a selection to Midwest Real Estate Data LLC (MRED).
67 Charged in Operation Malicious Mortgage
The U.S. Department of Justice announced charges against 67 defendants including mortgage brokers, loan officers, real estate agents, home builders and attorneys on June 17, 2008. The indictment is part of Operation Malicious Mortgage, a nationwide initiative against fraudulent home lending schemes. Read More
Marki Lemons on CBS
Marki Lemons appeared on CBS 2 Chicago on Friday to discuss the foreclosure market and give reporter Dorothy Tucker a tour of actual foreclosure properties. Watch Here
MLSNI & MAP MLS CONSOLIDATE - Effective Friday, April 4th, 2008
On Friday April 4th 2008, MLSNI and MAP MLS, through consolidation officially formed Midwest Real Estate Data LLC (MRED). The new organization will provide real estate data service to the areas formerly serviced by both entities. Read More
Transfer Tax Imposed Upon Seller
Effective April 1st, the Chicago Real Estate Transfer Tax increase of $3.00 will be imposed upon the seller.
For Details Please See Links Below:
Illinois Foreclosure Prevention Network
Illinois foreclosure prevention network: call 1-888-995-HOPE for mortgage help.
ComEd Offers Rebate for 2007 Usage!
Spread the word-this is a great reason to get in touch with previous clients!
See the attached form below to apply for your credit today. If you are still a ComEd customer check your statement, your credit may have already been applied to your most recent bill. Click here to download the form
New RSS Feeds
Get all of your real estate news in one place with RSS feeds on chicagorealtor.com. The Off the Wires page has special sections for local, real estate, commercial and international news. Click here.
Chicago Earth Hour 2008The Chicago Loop Alliance is asking you to turn off your lights from 8 P.M. to 9 P.M. on March 29, 2008, as part of a global initiative on climate change called “Earth Hour”. Read More
Broker Management Course Approved For Self Study
The 6 hour broker management course, which is mandatory for all brokers renewing their license, has now been approved for self study. Brokers are urged to complete the course as soon as possible, as all brokers must pass this course in order to renew their license before April 30,2008. Learn More
Economic Forecast Presentations
Did you miss the 2008 Economic Forecast? This year’s event, “Riding the Waves of an Unstable Economy,” featured a panel of financial experts who gave an overview of local, state, national, and global real estate and economic trends. In addition to an extensive look at the local economy, attendees received both long-term growth trends as well as the potential ups and downs of the coming year. Click here to view presentations from the event.
Clarification on Condominiums and Radon Disclosure
Are the disclosure form and pamphlet required in the sale of a condominium unit that is located in a 5-unit townhouse arrangement; or what about where the condominium is located on the 50th floor of a multi-unit high-rise building?
Read More
New Mailing Address
Effective February 1, 2008 our Chicago Association of REALTORS® payment addresses will change. Please make note of the new lockbox addresses.
Please submit all C.A.R related payments to the following new lockbox address:
CHICAGO ASSOCIATION OF REALTORS
3154 PAYSPHERE CIRCLE
CHICAGO IL 60674
Please submit all MLS Fee related payments to the following new lockbox address:
CHICAGO ASSOCIATION OF REALTORS MLS
3291 PAYSPHERE CIRCLE
CHICAGO IL 60674
New Illinois Radon Awareness Act
The newly enacted Illinois Radon Awareness Act will go into effect on January 1, 2008. REALTORS should have a general knowledge about the Act. Learn More
Speaker Madigan Offers Compromise Mass Transit Proposal
CHICAGO --- Speaker Michael J. Madigan on Monday afternoon sent a letter to all General Assembly members detailing his compromise proposal for mass transit legislation. Read More
New 2008 City of Chicago Business & Real Estate Related Fees & Taxes
The following fees were approved by the Chicago City Council for 2008. Please note that the Chicago Association of REALTORS® as well as other business groups were in opposition to these fees. Read More
Property Tax Passes; Commercial Lease Tax Tabled
REALTORS(r) in Chicago and their clients can expect there taxes and fees to increase - but not at the same rate as announced, thanks in part to joint efforts from multiple business groups including the Chicago Association of Realtors. Read More
REALTORS® Reject City Property Tax Increases
REALTORS® Reject City Property Tax Increases; Changes to Tax Cap and Development Fee Increases; Urge Public Hearings and Referendum on Transfer Tax for CTA and Urge Permanence and Expansion of Hours for Service Vehicle Parking Permit. City of Chicago 2007 Budget Testimony by the Chicago Association of REALTORS®
Read More
U of I Partners with IAR to Produce Monthly Housing Forecasts
The Illinois Association of REALTORS® has formed an alliance with the University of Illinois Regional Economics Applications Laboratory (REAL) to provide economic analysis and research linking monthly economic indicators with real estate trends and real estate indicators for the state of Illinois as a whole and 10 major metropolitan areas. Read More
NAR Donates Half-Million to California Wildfire Relief
The National Association of Realtors®, through the REALTORS® Relief Foundation, is donating a half-million dollars to help the victims of the disastrous wildfires that have swept California and left thousands of people homeless. Read More
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