Illinois Home Sales Show First Increase in Over Three Years

SPRINGFIELD, Ill., Oct. 23 /PRNewswire-USNewswire/ -- Statewide Illinois home sales

increased year-over-year in the month of September for the first time since March 2006

with first-time buyers driving the rebound in sales. According to the Illinois

Association of REALTORS'(R) latest report, statewide total home sales (which 

include single-family and condominiums) in September 2009 reached 10,350 homes sold,

up 3.3 percent from September 2008 sales of 10,018. The Illinois median price in

September 2009 was $160,000 down 9.3 percent from $176,450 in September 2008. 

The median is a typical market price where half the homes sold for more, half sold 

for less. 

Contact Your Congress Person To Extent Buyers Tax Credit

Yesterday, Ron Phipps, First Vice President at the National Association of Realtors (NAR) stood in front of the Senate Banking, Housing and Urban Affairs Committee urging them to extend the buyer tax credit. According to the NAR website, Phipps was quoted as saying,
“The data on the present home buyer tax credit show that the credit has had its intended impact—sales have jumped in recent months to a projected 5.1 million for the year and housing inventory has been trimmed, thus stabilizing home prices noticeably.” He also pointed out that each home sale generates approximately $63,000 in additional economic activity, providing a tremendous economic boost to the national economy. “But it is a fragile recovery, and now is the time to build on home sales momentum by extending the tax credit throughout 2010 and expanding it to all home buyers,” he said. “The present credit, due to expire on November 30, cannot help new purchasers now who write a contract today—they won’t be able to close before the deadline, and will lose out on the credit. Without congressional action now, the market and our national economy may freeze again—possibly as soon as this month.”
If you are an advocate of extending the credit, click on the following link, you can quickly notify your local Congressman of your opinion:
http://takeaction.realtoractioncenter.com/campaign/hbtc?qp_source=dotorg

Expanding Green Jobs And Energy Savings For Middle Class Families

WASHINGTON, D.C. - Vice President Biden today unveiled Recovery Through Retrofit, a report that builds on the foundation laid in the Recovery Act to expand green job opportunities and boost energy savings by making homes more energy efficient. Joining the Vice President today were Nancy Sutley, Chair of the White House Council on Environmental Quality; Steven Chu, Secretary of Energy; Hilda Solis, Secretary of Labor; Shaun Donovan, Secretary of Housing and Urban Development; and Karen Mills, Administrator of the Small Business Administration.

Initiative for state and local housing finance agencies HFA

WASHINGTON - As part of its comprehensive plan to stabilize the U.S. housing market, the Obama Administration today announced a new initiative for state and local housing finance agencies (HFAs) that will help support low mortgage rates and expand resources for low and middle income borrowers to purchase or rent homes that are affordable over the long term. Following up on the intent to support HFAs first outlined in February under the Homeowner Affordability and Stability Plan, the Administration's initiative has two parts: a new bond purchase program to support new lending by HFAs and a temporary credit and liquidity program to improve the access of HFAs to liquidity for outstanding HFA bonds.

2009 Flu Prevention H1N1

H1N1 What You Need To Know; Be Careful And Make Your Decision With Caution.

HUD takes action to expand jobs and training opportunities for low-income residents

WASHINGTON - The U.S. Department of Housing and Urban Development today launched a new campaign to increase hiring of low-income individuals and public housing residents by state and local governments that receive HUD funds. HUD is contacting more than 3,000 state and local agencies, including public housing authorities, to document their efforts to hire low-income individuals and to contract with companies who hire them. Agencies that fail to comply may be debarred, suspended, or denied participation in HUD programs.

The Quantum Physics Reality

You see all matter is composed of these tiny electrons or particles. These particles are everywhere - they are the building blocks of all matter. They are the foundation to your physical body, the house you live in, the cars you drive and the money in your bank account.

Our entire reality is filled with these tiny particles. And these particles respond to the way we observe them. We literally influence the cosmic waves of matter simply by observing. Or in other words, our observation of reality is what creates our reality. This idea has some huge implications and it begs the old question:

“If a tree falls in the forest and nobody is around to hear it, does it make a sound?”

According the conclusions of the double-slit experiment, it does not. The tree can only make a sound if it is observed. If you don’t pay attention to it, it did not happen.

Biggert pushes to extend first-time buyer tax credit

U.S. Representative Judy Biggert (R-IL-13th) has introduced legislation that would extend the existing first-time homebuyer tax credit for six months as well as a second bill that would extend the tax credit for a full year, expand it to include those who aren't first-time buyers and increase the maximum amount of the credit to $15,000.

Read Rep. Biggert's news release to learn more about the pending federal legislation.
http://judybiggert.house.gov/NewsRoom.aspx?FormMode=Detail&ID=1085



Tax Credit Impact in Illinois:
http://www.illinoisrealtor.org/files/Government%20Affairts/Illinois%20Impact%20Tax%20Credit.pdf

Overview of the Recovery Act of 2009

The American Recovery and Reinvestment Act of 2009 Web Site(Recovery Act) was signed into law by President Obama on February 17th, 2009.

It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need.

Obama Administration releases new data on Making Home Affordable program, achieves key milestone weeks ahead of schedule

WASHINGTON - Today, almost one month ahead of a November 1 benchmark set earlier this year, the U.S. Department of the Treasury and U.S. Department of Housing and Urban Development (HUD) announced a new milestone of more than 500,000 trial loan modifications in progress under the Making Home Affordable program.

O’HARE NOISE COMPATIBILITY INFORMATION

The O’Hare Noise Compatibility Commission has a
membership that includes 27 municipalities and over
40 communities surrounding O’Hare.
ONCC operates three standing committees: the
Residential Sound Insulation, the School Sound
Insulation and the Technical Committee.
The two sound insulation committees oversee
the very successful noise mitigation programs, some
of the largest in the nation.

Website: www.oharenoise.org

30-YEAR FIXED-RATE MORTGAGE LOWEST IN FOUR MONTHS, NEARING ALL-TIME LOW SET IN SURVEY IN APRIL

5-Year Fixed Mortgage Rates Are The Lowest Since Freddie Mac Records Began In 1991; 5-Year ARM Rates Also Hits Record Low

Daily Lane Closures

Plan Ahead – Know the Road

Daily lane closures are posted every day so that drivers can know what to expect ahead of time. The Daily Lane Closure Report (pdf) lists temporary lane and shoulder closures and long term closures by roadway. All closures are subject to weather conditions.

I-PASS Holders Take Simple Steps Today to Avoid Future Violations

October 2009

In This Issue…

I-PASS Users and Violations:
Learn how to avoid and clear up violations.

Ohio Turnpike Accepts
I-PASS/E-ZPass
If you are traveling through Ohio all plazas now accept
I-PASS/E-ZPass.

Fall Construction:
New traffic pattern
on I-88.

High-income taxpayers can start to tap into Roth IRAs in 2010

In 2006, President Bush signed the Tax Increase Prevention and Reconciliation Act into law. Starting in 2010, a specific provision in the law allows anyone to convert a traditional IRA to a Roth IRA regardless of their income level. In addition, if you make a conversion in 2010, for tax purposes, you’ll be able to report half the income from the conversion on your 2011 tax return and the other half on your 2012 return.
@ Bradenton Herald | Posted: 10/06/09 at 0419 EDST

High-Speed Rail projects

As part of the Federal Stimulus legislation, Illinois is competing for over $2 Billion in funds designed for High-Speed Rail projects. The proposal would connect St. Louis to Chicago, but would have a devastating impact on Springfield.

Tax increase - Partnerships & LLCs

Please contact your legislator and ask them to REPEAL this TAX INCREASE!

In the flurry of legislative activity just prior to the conclusion of the spring session of the Illinois General Assembly an amendment was adopted to the Illinois Income Tax Act. That amendment was included in Senate Bill 1912 which was considered by the General Assembly and signed into law by the Governor in a single day - the last day of the extended spring session (July 15th). This 273 page bill contained various budget related provisions and was titled the “Emergency Budget Implementation Act of Fiscal Year 2010”. The amendment to the Illinois Income Tax Act has the impact of increasing the state income tax on personal service income earned by service providers through a partnership or limited liability company.

Fire Prevention Week October 5-10

Fast facts about fire:

http://www.nfpa.org/itemDetail.asp?categoryID=1203&itemID=28255&URL=Safety%20Information/Fire%20Prevention%20Week%202009/Fast%20facts%20about%20fire

Smoke Alarm Saves Woman and 5-Year-Old - Action 3 News - Omaha, Nebraska News, Weather, and Sports | - http://www.action3news.com/Global/story.asp?S=11255413

Visit www.nfpa.org/firepreventionweek for the complete selection of Fire Prevention Week products and order at your convenience 24/7.

Visit Red Robin During
NATIONAL FIRE PREVENTION WEEK
October 5-10, 2009

Get a FREE Fire Prevention Activity Book when you purchase a Kid's Meal!

For every Kid's Meal sold from October 5-10, Red Robin will donate 50¢ to the National Fire Safety Council, Inc.

Brazil to privatize Rio airport to prepare for 2016 Olympics

RIO DE JANEIRO, (RIA Novosti) - The international airport in Brazil's largest city, Rio de Janeiro, which won the bid to host the 2016 Summer Olympic Games, will be privatized and modernized to prepare for the Olympics, the authorities said.
Rio, which faced stiff competition from Chicago, Madrid and Tokyo, became the first South American city on Friday to be awarded the games.
Rio de Janeiro's Galeao international airport, the largest airport in Brazil, evoked the strongest criticism from members of the International Olympic Committee at the stage of Rio's preparations for the 2016 Olympic bidding, the State Privatization Council said.
The terms and the exact date of the airport's privatization would be determined later, the council said.
The issue of the airport's privatization was first raised a year ago by the governor of the state of Rio de Janeiro, Sergio Cabral, who said that the need to sell the airport was conditioned by its unsatisfactory infrastructure, poor airport services and ineffective management.

Housing Market Update