Archives

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.

Chicago, IL - July 20, 2011 - (RealEstateRama) -- June home sales in the metropolitan Chicago real estate market displayed a distinctly split personality, according to an analysis of sales data by RE/MAX.

ELGIN, IL - July 18, 2011 - (RealEstateRama) -- A grand opening celebration on June 29 marked the official debut of RE/MAX 1st Choice, 130 W. Lafayette St. in Ottawa, Ill. Broker/owner T. Haeberle and six sales associates welcomed 75 guests, among them Ottawa Mayor Robert M. Eschbach and Boyd Palmer, president of the Ottawa Area Chamber of Commerce & Industry.

CHICAGO, IL - July 18, 2011 - (RealEstateRama) -- Governor Pat Quinn today announced the creation of the Mortgage Resolution Fund (MRF) using $100 million of the state’s $445.7 million in Hardest Hit Fund dollars to purchase notes in the Chicago area. The Illinois Housing Development Authority (IHDA) board today approved the new program, which will enable these loans to be permanently modified to affordable levels.

TINLEY PARK, IL - July 12, 2011 - (RealEstateRama) -- July 11, 2011. Governor Pat Quinn today announced $6.6 million in federal funding to increase affordable housing, stabilize communities and make infrastructure improvements in six south suburban Cook County communities. Awarded through the “IKE” Disaster Recovery Program, the funding will be used to purchase and rehab or demolish vacant or abandoned homes and to upgrade water-sewer lines and roads in the vicinity of the targeted housing projects.

SPRINGFIELD, IL - July 12, 2011 - (RealEstateRama) -- SPRINGFIELD, Ill.—The Illinois Association of REALTORS® (IAR) is investigating a technical error related to inconsistent data reporting affecting sales volume and media price reports for the city of Chicago. This error has resulted in inaccurate median price and sales volume reports for single-family homes and condominiums, in the city, possibly dating back to 2008 when IAR first began reporting city data at the request of the Chicago Association of REALTORS®.

Washington, DC - July 7, 2011 - (RealEstateRama) -- Congressman Don Manzullo (R-Egan) introduced legislation today to require Fannie Mae and Freddie Mac to continue paying annual dividends back to the US Treasury to ensure the “ringleaders” of the housing crisis keep paying off their debt to American taxpayers.

MONMOUTH, IL - June 29, 2011 - (RealEstateRama) -- A retiree raising her disabled grandson, Janice Painter has found something she never thought possible: a new two-bedroom rental home she can afford on her limited income.

SPRINGFIELD, IL - June 21, 2011 - (RealEstateRama) -- Illinois home sales have been trending positive month-to-month since February 2011 and median home prices have moved up for the last three consecutive months, all good signs for a market working to recover amid lackluster job creation and a restrictive lending environment. According to the Illinois Association of REALTORS® (IAR) latest report, statewide home sales (including single family and condominiums) in May 2011 totaled 9,736 homes sold, up 13.9 percent from 8,546 sales in April 2011; sales were down 16.8 percent from 11,705 homes sold in May 2010.

CHICAGO, IL - June 20, 2011 - (RealEstateRama) -- As record floods and other natural disasters strike communities across the country, the Illinois Department of Insurance is reminding Illinois homeowners and renters to review insurance coverage to determine if flood insurance is required.

CHICAGO, IL - June 20, 2011 - (RealEstateRama) -- Governor Pat Quinn has proclaimed June as Homeownership Month in Illinois. Quinn issued the proclamation to raise awareness about state-sponsored affordable homeownership programs and foreclosure prevention assistance available across Illinois to meet the needs of residents in this economy

OSWEGO, IL - June 17, 2011 - (RealEstateRama) -- Dozens of Kendall County seniors living on a limited budget will have new affordable housing opportunities in spring 2012. Construction is set to start on the 60-unit Diamond Senior Apartments of Oswego as a result of the investment of the Illinois Housing Development Authority (IHDA), the state’s housing finance agency. IHDA financed $1.6 million in federal housing tax credits on behalf of the administration of Governor Pat Quinn to build the apartments. The development also will provide a boost to the local economy by creating an estimated 114 quality jobs, including construction jobs

Chicago, IL - June 15, 2011 - (RealEstateRama) -- The Counselors of Real Estate® (CRE®) Consulting Corps team traveled to New Orleans the week of May 23 at the invitation of the Orleans Levee District Non Flood Protection Asset Management Authority to create a Strategic Plan of Action for re-vitalizing and optimizing the South Shore Harbor Marina. The 450-slip Marina property, which includes two terminal/service buildings, has not been fully restored following damages caused by Hurricane Katrina.

SHOREWOOD, IL - June 13, 2011 - (RealEstateRama) -- The Illinois Housing Development Authority (IHDA) today celebrated the opening of apartments that will help dozens of seniors live affordably in the Will County community. The 51 new apartments of Shorewood Horizon Senior Living Community will ensure seniors in the Village of Shorewood have access to safe, decent and affordable housing. Construction created an estimated 42 quality jobs.

WASHINGTON, DC - June 9, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Illinois and provide support to homeowners and low-income renters forced from their homes following severe storms and flooding during the month of April.