Find out what Illinois buyers are saying with WhyIBuy.org. The new, interactive website, WhyIBuy.org, aims to help you understand the motivations and opinions of Illinois homebuyers who purchased a home in the previous 12 months. Survey questions regard the use of a REALTOR® and other resources used by the homebuyers in their home searches as well as other facts about the buyers: income, age, number of children in the household, number of homes previously owned. Currently, the site presents this information on a statewide level; regional reports will follow soon. WhyIBuy.org is an ongoing project. As such, figures in the reports may change as new data from homebuyers becomes available. This project is being funded by the IAR Advocacy Program. If you have any questions about research methodology or suggestions for future work, please e-mail info@whyibuy.org.

Economist Geoff Hewings to speak to Illinois legislators today; watch it live. IAR has arranged for Dr. Geoff Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois, to present research on the Illinois economy and the importance of the housing market to a joint hearing of the House and Senate Revenue Committees. The presentation is at 4 p.m. today, Feb. 8. Watch it live on the Illinois General Assembly website, www.ilga.gov. Click on House, audio/video for Room 114. Can't catch it live? Download his PowerPoint presentation.

In the News: REALTORS®, housing industry band together to save mortgage subsidies. The BusinessWeek article, "The Real Estate Lobby is Ready to Rumble," shines a spotlight on housing industry efforts to protect the federal government's guarantee of low-cost mortgages. 

Promising signs for 2011 commercial market. Industry experts say there are signs of recovery going into 2011 with even more improvement expected in 2012. Watch this NAR video with Jed Smith, managing director of Quantitative Research, and research economist George Ratiu as they talk about what you can expect in commercial real estate. 

Effective ways REALTORS® are working their sphere in today's market. Constant contact, e-mail updates on market conditions, calling for non-business reasons and working with investors and flippers for REO properties are a few of the ideas cited in the most recent IAR Broker Sentiment Survey. 

Read about the latest disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation.

NEW: REALTORS® Working to Protect Homeowners and Build Stronger Communities (Item #1033) - This new IAR Advocacy brochure is designed for members to provide to clients/homeowners promoting how REALTORS® continue to be active in communities and protect homeowners property rights. 

NAR: Senate agrees to 1099 reporting repeal. NAR reports that a repeal of the reporting requirement for IRS Form 1099 is on track to pass the U.S. House and Senate soon. Read NAR's issue brief, "Information Reporting IRS Form 1099."  

S&P: It will take four years to clear shadow inventory. According to Standard & Poor's Rating Services fourth quarter report for 2010, that is an 11 percent increase over the previous quarter and a 40 percent increase over the fourth quarter of 2009. S&P estimates that it could take 59 months for shadow inventory to clear in Chicago. 

And what is shadow inventory? Market trends expert and popular IAR trainer Steve Harney covers some of the common misunderstandings about shadow inventory in a recent KeepingCurrentMatters blog post. 

Aging Baby Boomers to reshape housing market. Expect the unexpected when it comes to housing market patterns as boomers grow older. According to the Urban Land Institute article, “Who Are You Calling a Senior?,” boomers will continue to be active as they age and that will influence how and where they live including a reluctance to move into senior or retirement housing.  

How will new corporate, income tax changes impact your business? Tax expert Chris Bird will cover the latest Illinois tax implications and write-offs for your business at the IAR Business Conference for Owners & Managers on Feb. 17. Also featured on this half-day program are IAR Chief Legal Counsel Steve Bochenek and CEO Gary Clayton on risk management and the license law, and business profitability expert Drexanne Evers. Early-bird rate ends Wednesday, Feb. 9.

Learn more about the Asian market. Plan on attending the IAR Multicultural Summit: Understanding the Asian Market on April 14 in Lisle. Industry experts and real estate professionals will share their insights and success stories for working with Asian clients.

Looking for additional ways to build a global presence? NAR's Global Perspective's newsletter offers tips for building your global business, including 6 steps to developing a global component to your real estate practice.

Tip of the Week: Overwhelmed by e-mails? The Inman article, “5 Rules for Managing Your E-mail,” offers practical tips for getting your steady stream of e-mails under control. One tip: Just like "snail mail” make it a goal to deal with an e-mail only once. Once you’ve read it, reply if necessary, file it in a folder if you want to keep it or delete it. Just don’t keep it in your inbox.

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

• Lynn Madison named 2011 Illinois REALTOR® of the Year
• Hewings' Public Policy presentation on Illinois economy and housing market
• 2010 Profile of Illniois Home Buyers and Sellers