Morning Minute: REALTORS® move into the post-transition market

Chicago Agent Magazine spotlights the outreach efforts of the Illinois Association of REALTORS® (IAR) and the Chicago Association of REALTORS® to prepare their members for the Illinois real estate license transition period that ended on April 30.  Now that the deadline has passed and the informational blitz has ended, the associations are looking ahead to help members working under the new requirements.

IAR Director of Communications Jon Broadbooks said he has been very encouraged by Illinois’ markets since the April 30 deadline, and going forward, he said he is very confident for the real estate market. With the economy improving steadily with each month, he said the increased opportunities for agents will more than make up for any possible reductions in numbers because of the new licensing requirements.

In other news:

Borrowers seeing refinancing delays: More homeowners looking to refinance their mortgages are finding themselves waiting due to delays. (Wall Street Journal)

Freddie Mac to drop fee: The mortgage giant announced that it will drop a refinancing fee on deeply underwater loans.  (Wall Street Journal)

April home sales/prices climb in Rock River Valley: Year-over-year homes sales rose for the 11th straight month in April while prices topped $100,000 for the first time since November. (Rockford Register Star)

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