Morning Minute: More homeowners believe now is a good time to sell, NAR reports

Image: Bigstock

Seventy-one percent of homeowners believe that now is a good time to sell their home, up from 69 percent earlier this year, according to the National Association of REALTORS®’ (NAR) quarterly Housing Opportunities and Market Experience (HOME) Survey. On the flip side, consumers are less confident about the economy and their financial situations now. Read more from NAR.

In other headlines:

Growth of Property Values – NAR’s Economists’ Outlook

Freedoms of Homeownership – Freddie Mac

REALTORS® target point of sale inspection policy in Beach Park

Source/Bigstock

REALTORS®, more than anyone, know how complicated and fragile the home selling process can be.

Every step of the home selling process, from contract to closing, and everything in between, can complicate and derail a home sale.  Introducing another prerequisite – the government home inspection – only serves to increase costs and create more opportunities to disrupt the transaction.

Only a small minority of Illinois municipalities require a government home inspection prior to sale.  And unlike state licensed private home inspectors, municipal inspectors have no minimal training or standards requirements, and sellers must correct any violations found by the government inspector.  Worse, government inspectors often nitpick over cosmetic rather than life-safety concerns.

For these reasons, the Mainstreet Organization of REALTORS® (MORe) has teamed up with the Illinois REALTORS®, by way of the Real Property Alliance, to take aim at the Lake County village of Beach Park’s policy requiring an exterior inspection of one’s home prior to sale.  The two associations have launched a sophisticated advocacy campaign to take the message directly to Beach Park residents.

Through newspaper advertisements, electronic mail, and social media advertising, Beach Park residents have been directed to www.BeachParkInspections.com where they can learn even more about the issue and send a message to the Beach Park village board encouraging them to end point-of-sale inspections.  The campaign has been well received by the public and we are seeing a steady stream of property owners telling their village board to stop interfering with home sales.

“REALTORS® are not saying the village shouldn’t address code violations, but what makes it frustrating is code violations can be addressed at any time of the year by the village as opposed to right when a resident is trying to sell their home,” says Kris Seegren a REALTOR® and Beach Park resident. “I have never seen a municipal inspection make the transaction go smoother; in fact it just adds further points of contention between the parties at a late date in the transaction, sometimes causing sticking points of negotiation right at the closing table.”

Illinois REALTORS® mourns loss of Danville board’s Borgwald

NOTE: Updated with service information below

Illinois REALTORS® mourns the loss of Debbie Borgwald, association executive of the Danville Area Board of REALTORS®.

Deb Borgwald

Borgwald, 57, died late Sunday, and served on numerous committees for the association, including Professional Standards, Association Executives and the Conference & Expo Working Group.

“Debbie was a champion for her board and the REALTOR® community,” said Illinois REALTORS® President Doug Carpenter. “She was an advocate for making sure REALTORS® adhered to the highest standards of ethical practice.”

Survivors include her husband, Gary of Danville, and two sons, Derek Davis and Garrett Borgwald both of Danville.

Visitation is 3-8 p.m. Thursday, July 29, at Sunset Funeral Home and Cremation Center, 3940 N. Vermilion in Danville.

The funeral is 10 a.m. June 30 at the funeral home.

Goldberg to succeed Stinton as NAR CEO

Goldberg

Following an extensive national search, the National Association of REALTORS® has selected Bob Goldberg to be its next chief executive officer, starting in 2018.

Goldberg will be the association’s 12th chief executive officer since its founding in 1908. He’s been with NAR since 1995, and is the NAR senior vice president of Sales & Marketing, Business Development & Strategic Investments, Professional Development and Conventions.

“Bob’s vision, business acumen, and unique ability to successfully leverage NAR’s technology investments will ensure REALTORS® remain at the center of the real estate transaction,” said 2017 NAR President William E. Brown, a REALTOR® from Alamo, California. “With extensive knowledge of the association and real estate industry, Bob brings with him a strong track record for future-based thinking and enacting change, which is why the NAR leadership team is extremely confident in his ability to lead the association and membership to continued future success.”

Read more from NAR.

 

 

Sullivan advocates for property tax freeze during Committee of the Whole meeting Friday

Illinois REALTORS®Director of Legislative and Political Affairs Julie Sullivan prepared to speak during a Committee of the Whole hearing in the Illinois House of Representatives on Friday.  Source: Illinois General Assembly

The Illinois General Assembly has been back in Springfield this week for a special session, and Illinois REALTORS® Director of Legislative and Political Affairs Julie Sullivan testified before a Committee of the Whole held in the Illinois House on Friday.

Sullivan was part of a series of speakers on Friday advocating for a property tax freeze. A freeze is a subject of negotiation as lawmakers grapple with how to pass a budget for the state. Sullivan said this was the first time in her decades at the association she had been asked to present before a Committee of the Whole.

Because Illinois has some of the highest property taxes in the U.S., Illinois REALTORS® has long advocated for some type of property tax relief.

High property taxes are preventing young consumers across the state from becoming first-time home buyers, said Sullivan, while other homeowners say they can make their house payments but struggle to pay their property taxes. Senior citizens can feel the effects of rising property taxes when their incomes are fixed.

“It affects all levels of homeowners and small businesses as well,” said Sullivan. “It has a cascading effect.”

Sullivan said the association is also supportive of measures which would allow for consolidation of some of the state’s record number of taxation districts.

Illinois leads the U.S. in the number of government entities, and Illinois REALTORS® has long held that there is a direct correlation between the number of taxing bodies and the high level of property taxes.