Pending home sales rise again in November. The Pending Home Sales Index rose 3.5 percent in November compared to the month before, signaling what NAR expects to be a gradual improvement in the housing market in 2011. NAR Chief Economist Lawrence Yun says historically high affordability is boosting sales activity but gains still need to be made to reach normal sales levels.

Welcome 2011 – now let’s get down to business. Start the new year off on the right foot by taking some simple action steps to help you get ahead. This IARbuzz blog post offers a 2011 To-Do list including dusting off and fine-tuning your business plan, reconnecting with past clients and buying a smart phone.

Proficiency exams now being offered; prep courses available to help you prepare. The state-approved proficiency exam is available and there are prep courses to help you prepare for the exam at more than 60 pre-license branch locations around the state. Find a prep course at a location near you.

Homebuyer tax credit expensive, but effective. Home prices would have fallen 10 percent further without the federal homebuyer tax credits, according to an analytical firm cited in this recent media report. On the flip side, the Joint Committee on Taxation estimates that the combined tax credits could mean $22 billion in lost tax revenue through 2019.

IRS offers withholding details on payroll tax cut that will boost take-home pay. A new 2 percent payroll tax cut for employees reduces their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid. IRS Notice 1036 offers withholding tables.

Top 10 tax time tips from the IRS. Follow these handy tips from the Internal Revenue Service and you'll be better prepared when the time comes to file your taxes.

Do you Yelp? If not, you’ll want to read this Illinois REALTOR® Magazine article to learn more about the online review site Yelp and how REALTORS® and their clients are using it to get the word out about themselves.

State offers online rental housing hub. ILHousingSearch.org not only offers renters a free and easy-to-search database of rental housing in Illinois, but property owners, managers and landlords can also use the service to post and manage property listings.

Illinois lawmakers get back to business. The 96th Illinois General Assembly returns to Springfield this week to finish up final business before the new 97th General Assembly and its members are sworn in on January 12. Gov. Pat Quinn and the state's constitutional officers will be sworn in January 10. Watch your inbox later this week for the latest edition of the State Capitol Report. 

Foreclosures/short sales now factor into assessments.  As of Jan. 1, the Illinois Department of Revenue must include compulsory sales (foreclosures and short sales) in its sales ratio studies for sales occurring on or after Jan. 1, 2011. IAR fought for the change to provide a more accurate picture of property values for assessment purposes. 

Illinois to lose one seat in Congress. Illinois’ population grew 3.3 percent between 2000 and 2010, according to the U.S. Census Bureau. But the state will still lose a seat in the U.S. House of Representatives when the seats are reapportioned by 2013. Find graphs on population change, density and more.

Treasury amends HAFA to increase borrower eligibility. NAR reports that the U.S Treasury Department has changed the Home Affordable Foreclosure Alternatives Program (HAFA) to boost the number of potential borrowers and speed up approvals.

Bank of America reaches nearly $3 billion agreement with Fannie Mae and Freddie Mac to settle claims of bad residential mortgages originally sold by Countrywide Financial Corp., CNN reports. 
 
Rally for RPAC at the Jan. 25 auction. Dust off that stovepipe hat and get ready to raise money at the RPAC auction where you can bid on such items as an iPad, a dinner theater package, airline tickets and more. The RPAC auction will be held in conjunction with the IAR Public Policy Meetings at the Embassy Suites in East Peoria.

Learn more about tax changes, profits and the latest industry legal issues. Attend IAR's Business Conference for Brokers and Managers on Feb. 17 in Lombard and you'll get all the details you need for your sales and management team to succeed in 2011. 

Save the date! IAR Capitol Conference is April 5. Plan on attending IAR’s annual Lobby Day in Springfield. It’s a great way to learn more about the political issues affecting the industry and meet face-to-face with your local lawmakers.

Got questions or tips about short sales? Are there aspects of the short sale process that have you stumped and you want to know more about? Do you have tips and ideas for navigating the process? Send us your question or tip and you may be included in an upcoming IAR publication. 

January is National Radon Action Month. Remind homeowners to have their homes tested for radon gas and learn more about radon disclosure requirements in Illinois at IAR's Legal Issues A-Z.

Tip of the Week: 7 ways to use Facebook to generate leads and make money. This RISMedia article offers ideas for maximizing your Facebook presence and using it to boost business.

Did you miss it? Hot topics Weekly Connection readers viewed most last week:

• November county-by-county housing statistics
• Prep courses for proficiency exams
• Lead-based paint manual