November home sales show third month of median price stability. The Illinois Association of REALTORS® released the November home sales report showing three consecutive months of median price stability statewide while sales are significantly lower than a year ago as expected. (Last year November buyers were rushing to beat the original homebuyer tax credit deadline of November 30.) The national report also noted stable home prices. Go to the IAR members-only market stats page to find county-by-county statistics, IAR Talking Points and the latest University of Illinois forecast. 

Energy-efficiency tax credits extended to Dec. 31, 2011. The 2010 Tax Relief Bill signed Dec. 17 by President Obama includes the extension of tax rates and credits of interest to REALTORS® including a one-year deadline extension for energy-efficiency tax credits originally set to expire this month. Find a full summary on other details of the tax bill from NAR. 

A closer look at Illinois buyers and sellers in 2010. According to the 2010 Illinois Profile of Home Buyers and Sellers, 53 percent of people who purchased a home in Illinois this year were first-time buyers, compared to 50 percent nationwide. Other stats of interest:

• When considering the purchase of a home, commuting costs were considered very or somewhat important by 78 percent of buyers.
• 93 percent of homebuyers used the Internet to search for homes.
• The typical home buyer searched for 12 weeks and viewed 15 homes.
• 85 percent of buyers purchased their home through a real estate agent or broker; 87 percent of buyers would use their real estate agent again or recommend the same agent to others.
• REMINDER: As a member of NAR, you can download a FREE copy of the national profile of buyers and sellers (Item #E186-45-10) until Dec. 31 as part of the soon-to-expire Right Tools, Right Now. 

In the news: IAR President Sheryl Grider Whitehurst. In this television interview on WEEK News 25 in Peoria, Whitehurst reminds consumers of some of the good reasons to buy a home. 

Your Illinois REALTOR® Magazine is in the mail. In addition to pricing tips and new laws that will affect the industry, the January issue, which you can also read in digital format, also features a license law transition checklist and information on proficiency exam prep classes.

Lead-based paint manual added to the risk management toolbox. IAR legal counsel have updated "The Lead-Based Paint Disclosure Manual" available now in the IAR Risk Management Toolbox. 

7 things you should do after taking a new listing. Read this action plan from REALTOR.org to find simple but effective steps - like writing a handwritten note to your client or writing several advertisements - that can make a big difference when listing a property. 

REALTORS® reflect on 2010; look ahead to 2011. As 2010 comes to a close, NAR President Ron Phipps takes a look back at some of the year’s highlights, including the end of the first-time buyer tax credit, the ongoing foreclosure crisis and recent scrutiny of the mortgage interest deduction.

Working in short sales? What aspect of the short sale do you want to learn more about? Share a question or a tip and you may be included in an upcoming IAR publication. 

Early-bird registration deadline is Jan. 26 for upcoming Business Conference for Owners & Managers. Register for this one-day program on Feb. 17 aimed at arming owners and managers with the latest information about industry trends, business strategies, legal and regulatory issues. See the schedule lineup and download the registration brochure and register early to save.  

Home Ownership Matters campaign is now on Facebook. Get the latest on NAR's Home Ownership Matters on Facebook. NAR has also created a new section, "Materials You Can Use," on their website with resources and information to help you spread the word about the positive benefits of homeownership.

Tip of the Week: 7 tips for thriving during the holiday season. Find ideas for turning the stress of the holidays into joy and readiness for the new year with this RIS Media article. One tip: focus less on specific resolutions that are often forgotten and more on your intentions for 2011.

Ringing in a new year. The Illinois Association of REALTORS® will be closed Friday, Dec. 31 in observance of the New Year’s holiday and will reopen on Monday, Jan. 3. Please note the IAR Legal Hotline is closed this week and will also reopen on Monday, Jan. 3.

Right Tools, Right Now ends Dec. 31. You’ve only got a few days to take advantage of the free and at-cost resources from NAR’s Right Tools, Right Now campaign which ends Friday.

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

• Proficiency prep test locations
• Illinois REALTOR® Magazine digital January issue
• IAR handout - "Teams and the Illinois Real Estate Brokerage Firm"