Yearly Archives: 2011

CHICAGO, IL - August 29, 2011 - (RealEstateRama) -- August 26, 2011. As part of his ongoing commitment to consumer protection, Governor Pat Quinn today signed legislation that will enhance safeguards for borrowers and tenants. The new laws will give the Illinois Commerce Commission (ICC) increased oversight of entities that repossess collateral in the case of defaulted loans. They will also strengthen tenants’ rights to their security deposits after a change in property ownership.

SPRINGFIELD, IL - August 26, 2011 - (RealEstateRama) -- REALTORS® and other real estate professionals from throughout Illinois will gather October 11-13, 2011, for the Illinois Association of REALTORS® (IAR) 95th Annual Convention and Expo at the Pheasant Run Resort in St. Charles.

Elgin, IL - August 25, 2011 - (RealEstateRama) -- The RE/MAX office in Skokie, Ill., has been purchased by Mark Feyman and Ivana Shudnow, both real estate veterans. The office, which was purchased in late July, will remain for the time being at 3947 Dempster St. Formerly called RE/MAX 1st Class Realty, its name has been shortened to RE/MAX 1st Class. The focus will continue to be on providing top service to customers -- but in more than just the residential real estate sector

Chicago, IL - August 19, 2011 - (RealEstateRama) -- A new survey in the August 15th issue of Chicago Agent magazine illustrates that more than half of all agents surveyed believe that online agent rating systems, such as those on Zillow.com, Trulia.com and Angie’s List, are beneficial to the industry. However, only 17 percent of agents surveyed are actively participating in agent rating systems.

Chicago, IL - August 18, 2011 - (RealEstateRama) -- RE/MAX Property Source, Rockford, which is part of the RE/MAX Northern Illinois real estate network, has expanded into Belvidere, Ill., where it has acquired the local office of RE/MAX Key and renamed it RE/MAX Property Source. The office has been relocated to 411 S. State St. in downtown Belvidere, the former office of State Rep. Ron Waite.

SPRINGFIELD, IL - August 18, 2011 - (RealEstateRama) -- According to the Illinois Association of REALTORS® (IAR) latest report, statewide home sales (including single family and condominiums) in July 2011 totaled 9,708 homes sold, up 18.4 percent from 8,197 home sales in July 2010. The statewide median price in July was $153,000, down 3.8 percent from $159,000 in July 2010. The median is a typical market price where half the homes sold for more, half sold for less

August 15, 2011 - (RealEstateRama) -- Three metro-east residents recently pled guilty in United States District Court in East St. Louis, for participating in a conspiracy to defraud the United States and evade the payment of federal income taxes, the United States Attorney for the Southern District of Illinois, Stephen R. Wigginton, announced today. Robert Todd McKinney, 42, and his wife Belinda McKinney, 43, pled guilty on August 11, 2011. John Quinn McKinney, 39, pled guilty on August 9, 2011; while his wife, Chamethele McKinney, 36, pled guilty on August 3, 2011. Robert (Todd) McKinney and John McKinney were both convicted of conspiracy to commit tax evasion, tax evasion, and making false statements to federal officials. Belinda McKinney was convicted of conspiracy to commit tax evasion and loan application fraud. Chamethele McKinney was previously convicted of conspiracy to commit tax evasion, loan application fraud, and federal food stamp fraud.

SPRINGFIELD, IL - August 10, 2011 - (RealEstateRama) -- According to the Illinois Association of REALTORS® (IAR) second quarter 2011 report, Illinois home sales (which include single-family homes and condominiums) totaled 29,316 in the second quarter, down 18.0 percent from 35,746 home sales in the same period a year ago while 2010 sales were up significantly by 28.2 percent from 2009 sales of 27,890. The second quarter statewide median home sale price was $142,000, down 11.3 percent from $160,000 in the second quarter of 2010. The median is a typical market price where half the homes sold for more, half sold for less.

Chicago, IL - August 2, 2011 - (RealEstateRama) -- The Chicago City Council today approved eight ordinances supporting neighborhood amenities, business development, affordable housing and historic preservation

Chicago, IL - August 1, 2011 - (RealEstateRama) -- Continuing its streak of recent strategic acquisitions, Westwood Financial Corp., one of the largest owner-operators of shopping centers in the U.S., has purchased Sanders Court Shopping Center in Northbrook, Ill., for $22 million. The 136,219-square-foot retail center currently is 99-percent leased and represents another in a string of strong investment opportunities Westwood Financial has seized in recent months.

Chicago, IL - July 29, 2011 - (RealEstateRama) -- RE/MAX increased its share of residential properties sold in the Chicago real estate market to 8.5 percent during the first half of 2011, up from 7.6 percent in first half 2010. As a result, RE/MAX has moved up into second place among real estate brands that do business in the city.

WASHINGTON, DC - July 28, 2011 - (RealEstateRama) -- Today, U.S. Representative Mike Quigley (IL-05) testified that his bill—the Federal Real Property Disposal Enhancement Act—would save the federal government billions of dollars simply by selling or disposing of unwanted government-owned property. Quigley spoke in front of the House Committee on Oversight and Government Reform on behalf of the legislation, which he introduced in March.

EUGENE, OR - July 26, 2011 - (RealEstateRama) -- IDX, Inc. and Barrington, Illinois Broker Corinne Guest have joined forces to present area home seekers with a comprehensive online real estate website. IDX Broker software has integrated a search page that extracts raw listing data directly from the Midwest Real Estate Data (MRED) database and seamlessly presents it onto Guest's website. She can now supply her clients with thousands of Chicago area homes instantly, from the convenience and familiarity of her IDX-enabled website.

SPRINGFIELD, IL - July 22, 2011 - (RealEstateRama) -- According to the Illinois Association of REALTORS® (IAR) latest report, statewide home sales (including single family and condominiums) in June 2011 totaled 11,003 homes sold, up 12.7 percent from 9,761 sales in May 2011; sales were down 16.3 percent from 13,144 homes sold in June 2010.

SPRINGFIELD, IL - July 22, 2011 - (RealEstateRama) -- The Illinois Association of REALTORS® (IAR) has conducted a thorough review of the city of Chicago median price report program and has identified the cause of inconsistent median price calculations. IAR also employed an outside Certified Public Accounting/Technology firm, Sikich LLP to conduct an independent review of the city of Chicago issue. The findings of both reviews were consistent as to the cause and action necessary to correct methodology.