Owning a home is still the dream for many, but when inventory is low and there aren’t enough homes on the market, it means fewer opportunities for people to buy their first home or to sell and move up to their next. June is Homeownership Month and in this issue, we take a closer look at the state’s record low housing inventory, what is causing it and what can be done to turn it around so more can achieve the American Dream of homeownership. We examine alternative housing options that go beyond the traditional single-family home. The Illinois REALTORS® Legal Hotline Attorney covers the legal requirements you need to know when low inventory is leading to multiple offers and cautions REALTORS® to be aware of vacant property scams. Plus, you’ll find a recap of key legislation from the spring legislative session.
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In this Issue
A lack of inventory is one of the biggest issues facing the housing industry. Find out what is causing the problem, what can be done and how you can help.
Learn about alternative housing options that might work for your clients including multigenerational, rent-to-own, Accessory Dwelling Units and co-living.
Low inventory means more multiple offer situations. The Legal Hotline Attorney answers questions about what to do when complications arise.
Get a recap of key legislation from the spring session including homeownership rental measures, radon disclosure and electric vehicles.
Avoid vacant property scams by learning the warning signs to watch for and the due diligence you need to follow as a real estate professional.
Illinois REALTORS® are active not just in the industry but also in their local communities. See what your colleagues have been doing to promote private property rights and give back.
