Monthly Archives: March 2012

Many housing markets hit bottom three years ago in early 2009

The housing industry fell apart quickly and then began a protracted recovery.

Many housing markets hit bottom three years ago in early 2009 when prognosticators claimed that home prices had much further to fall, according to data released by Pro Teck Valuation Services.

The Waltham, Mass.-based real estate valuation firm explored the turnover rate (number of non-distressed sales divided by the total housing stock in a region) as an indication of future home prices. The analysis, the firm says, demonstrates that home prices in many areas are already rebounding from the bottom of the market.

“The Miami and Los Angeles markets are highly representative of what we foresee for most of the important coastal U.S. real estate markets,” Pro Teck Chief Executive Tom O’Grady said. “In particular, we see stabilizing and then gradually increasing prices over the next few years.” Read the full article

Latest on License Law re: Transition

Latest on License Law

Proficiency Exam Results May Take Up to Four Weeks
Given the high volume as the deadline to take the Illinois real estate license Proficiency Exam ends this week (March 15), please do not call IAR for your results unless four weeks have passed since you took the test and you have not been notified. Check online for your results for IAR-sponsored courses with the IAR Education Lookup.

If You Have Your Proficiency Exam Results, NOW Is the Time to Transition Online
The Illinois Department of Financial and Professional Regulation (IDFPR) offers the online application process for Salesperson to Broker and Broker to Managing Broker. This option is ONLY for those who have taken and passed the Proficiency Exam. Note: For Salesperson to Broker transition it’s a two-step process (license transition and renewal). For Broker to Managing Broker there is just one step (transition), as Managing Brokers renew their license in 2013.

Just Getting Started On Salesperson to Broker Transition?
Your best (most quick and cost-effective) option is the 30-hour home study course available from the IAR REALTOR® Store for $165 (Item #625). After successful completion of the home study course and exam you will meet the education requirement and be exempt from the CE required for the Illinois Broker license.(Remember to file your transition/renewal application with IDFPR postmarked by April 30, 2012. Download the (pdf) application form).

Just Getting Started On Broker to Managing Broker?
Your best option is the 45-hour home study course available from the IAR REALTOR® Store for $195 (Item #629). After successful completion of this course and exam, you will have completed the required education hours to transition your license to the new Managing Broker category. NOTE: This course will exempt Managing Brokers from the 12-hour Broker Management CE. Managing Brokers will still be required to complete the 18 hours of regular CE by April 30, 2013. (Remember to file your transition application with IDFPR postmarked by April 30, 2012. Download the (pdf) application form).

  • IMPORTANT: Be sure to schedule your proctored exam for the home study courses no later than April 23 in order to have your test results in time. For this transition option, you must use the paper application form from IDFPR, and it must be postmarked by April 30, 2012.

Brokers Staying Brokers
Renew your broker license and complete 12 hours of CE by April 30, 2012.