Archives

More than half of home buyers in the 2009 Profile of Illinois Home Buyers and Sellers were first-time buyers, due in large part to the first-time homebuyer tax credit stimulus and increased affordability in home prices in the last year. The survey results released by the Illinois Association of REALTORS® (IAR) found 51% of buyers were first-time buyers, compared to 47% nationwide (a figure which has averaged closer to 40% nationwide since 2001). When asked about the primary reason for timing of the home purchase, 46% of first-time buyers said it was just the right time.

DEKALB, IL - January 28, 2010 - (RealEstateRama) -- Governor Pat Quinn today announced that Northern Illinois University (NIU) will get $8 million to renovate Cole Hall, which on Feb. 14, 2008 was the tragic scene of an unprovoked attack where five students were shot and 19 were wounded. An additional $2.3 million will be used to plan for the renovation of Stevens Building.

CHICAGO, IL - January 27, 2010 - (RealEstateRama) -- The Illinois Department of Financial and Professional Regulation (IDFPR) today announced it had indefinitely suspended the licenses of Edward Kent, a Real Estate Broker and Associate Appraiser who had been convicted of a crime that caused his name to be placed in the Illinois Sex Offender Database. After receiving a complaint about Mr. Kent, the Department undertook to compare its more than one million licensees against that database.

SPRINGFIELD, IL - January 26, 2010 - (RealEstateRama) -- Illinois housing markets show signs of stabilizing as low interest rates and the tax credit stimulus helped to reduce inventories through the end of 2009 while more markets reported median price increases in December. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in December 2009 were up 20.1 percent, totaling 8,197 homes sold compared to December 2008 sales of 6,823 homes, marking the fourth consecutive month of year-over-year sales increases statewide. The median price in December 2009 was $152,000 down 1.9 percent from $155,000 in December 2008. The median is a typical market price where half the homes sold for more, half sold for less

CHICAGO, IL - January 26, 2010 - (RealEstateRama) -- U.S. Senator Dick Durbin (D-IL) today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded the City of Chicago a Neighborhood Stabilization Program (NSP) grant in the amount of $98,008,384 through the American Recovery and Reinvestment Act. These grants are competitively awarded to local governments and non-profit housing developers to spur economic development and create jobs in hard-hit communities

January 26, 2010 - (RealEstateRama) -- Congressman Phil Hare (D-IL) today released the following statement praising the Obama Administration for opening a new transitional housing facility in Cocoa, Florida for homeless female veterans. Hare has introduced the Help Our Homeless Veterans Act, legislation that would mandate the Secretary of Veterans Affairs to dedicate funding for a National Media Outreach Campaign on homelessness with a specific focus on women.

OSFM offers safety tips, highlights dangers with furnaces, fireplaces and space heaters. SPRINGFIELD, IL - January 20, 2010 - (RealEstateRama) -- Heating equipment is a leading cause of home fires and nearly half of all home fires occur during the winter months, according to the Office of the Illinois State Fire Marshal (OSFM)

Washington, DC - January 14, 2010 - (RealEstateRama) -- Congressman John Shimkus (R, Illinois-19) has co-signed a letter with 112 of his colleagues, both Republicans and Democrats, to President Obama asking that Low Income Home Energy Assistance Program (LIHEAP) contingency funds be released

Washington, DC - January 12, 2010 - (RealEstateRama) -- Congressman Aaron Schock (R-IL) joined 132 of his colleagues in writing to President Barack Obama this week, requesting he release emergency funds from the Low Income Home Energy Assistance Program (LIHEAP).

WASHINGTON, DC - January 12, 2010 - (RealEstateRama) -- Two elderly sisters will continue living together under an agreement announced today by the U.S. Department of Housing and Urban Development (HUD) and the Lake County Housing Authority (LCHA) in Grayslake, Illinois.

WASHINGTON, D.C. - January 7, 2010 - (RealEstateRama) -- United States Senator Roland W. Burris today announced that the Emergency Food and Shelter National Board Program (EFSP) will award Illinois a total of $9,000,170 to increase efforts to provide services, food and shelter for the hungry, homeless, and individuals struggling during the economic crisis. The EFSP is a federal program administered by the U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA).

CHICAGO, IL - January 5, 2010 - (RealEstateRama) -- A new free bilingual Web site (ILHousingsearch.org) featuring statewide property listings is available now to help Illinois residents find their next rental home. ILHousingsearch.org was created by the administration of Governor Pat Quinn to allow users to search through a range of features to find a home that fit their needs

CHICAGO, IL - December 30, 2009 - (RealEstateRama) -- The Illinois Department of Financial and Professional Regulation (IDFPR) announced today that starting January 4, 2010 mortgage brokers and mortgage bankers will use the Nationwide Mortgage Licensing System (NMLS) for license applications and renewals. Loan originators will also begin transitioning onto the NMLS for their new individual licensing credentials required in 2010. The national data base ensures that any mortgage loan professionals moving to Illinois will be able to demonstrate competency and a record clear of disciplinary actions in any other state in the nation.

SPRINGFIELD, IL - December 22, 2009 - (RealEstateRama) -- Pent-up buyer demand plus low interest rates and the homebuyer tax credit incentive yielded a second month of double-digit gains for Illinois home sales in November, in stark contrast to home sales one year ago in November 2008. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in November 2009 reached 10,361 homes sold, up 64.0 percent from November 2008 sales of 6,317, marking the third consecutive month of year-over-year sales increases in Illinois. The statewide median price in November 2009 was $155,000 down 4.3 percent from $162,000 in November 2008. The median is a typical market price where half the homes sold for more, half sold for less

December 18, 2009 - (RealEstateRama) -- Robert D. Grant, Special Agent-in-Charge of the Chicago office of the Federal Bureau of Investigation (FBI) and Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, announced today the filing of criminal charges against four west suburban men in connection with a mortgage fraud scheme.