Real Estate News
C.A.R. Holiday Hours
C.A.R. offices will be closed all day on Tuesday and Wednesday, Dec. 24-25, and Tuesday and Wednesday, Dec. 31.- Jan. 1. Have a happy and safe holiday season!
REALTOR® Relief Fund Efforts
The C.A.R. Board of Directors has approved a $5,000 donation through the REALTOR® Relief Fund to help Illinois communities get back on their feet after last week’s tornadoes. In addition, the C.A.R. Education Foundation has approved $2,000 toward relief efforts in affected areas. Gifts to the REALTOR® Relief Fund will assist disaster victims with housing and other immediate needs. Click here to contribute to this humanitarian relief effort for our downstate neighbors.
State Fire Marshal Withdraws Proposed Rules, Including Sprinkler Mandate
Your actions made a difference! The Illinois State Fire Marshal today withdrew a proposal to alter the Illinois fire safety code. The proposal will no longer be considered by the Joint Commission on Administrative Rules (JCAR) next week. Read the Office of the State Fire Marshal announcement.
Thanks to all Chicago REALTORS® who responded to IAR Calls to Action and contacted their legislators to oppose code changes. As proposed, changes would have included a fire sprinkler mandate for all newly constructed homes and retrofitting requirements in high-rise buildings. Such a mandate would drive up housing costs and take away what should be a homeowner's choice.
C.A.R. will keep you informed as this important advocacy issue progresses.
The Chicago Neighborhood Initiative
Chicago is a mosaic of 77 recognized neighborhoods, each creating a distinct community. Commercial corridors running through and often connecting these neighborhoods are the city's lifeblood, supporting businesses that range from corporate offices to cafes.
The C.A.R. Economic Development team concentrates on storefront vacancies and their impact on neighborhood vitality. Over the past year we've canvassed commercial corridors city-wide and uncovered reasons for underutilized commercial space.
View snapshots of 26 neighborhood commercial corridors we've canvassed to date, intended for your use with investors, home buyers and other clients. Expect more reports ahead.
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.