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"To laugh often and much; to win the respect of intelligent people and the affection of children; to earn the appreciation of honest critics and to endure the betrayal of false friends. To appreciate beauty; to find the best in others; to leave the world a bit better whether by a healthy child, a garden patch, or a redeemed social condition; to know that even one life has breathed easier because you have lived. This is to have succeeded."
—Ralph Waldo Emerson |
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December Illinois Home Sales Mark Sixth Month of Year-over-Year Gains
SPRINGFIELD, Ill. — A combination of unseasonably mild weather, historically low mortgage rates and attractive market pricing led to a sixth straight month of increases in home sales, according to data released by the Illinois Association of REALTORS® (IAR).
IAR’s latest report shows that statewide home sales (including single family and condominiums) in December 2011 totaled 8,828 homes sold, up 14.0 percent from 7,746 home sales in December 2010. The statewide median price in December was $125,500, down 10.4 percent from $140,000 in December 2010. The median is a typical market price where half the homes sold for more, half sold for less
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New Laws for Landlords
Public Act 97-21 (HB 141) added very limited provisions to the Illinois Radon Awareness Act regarding radon in rental units. The new law requires that if a lessor is notified by a tenant in a dwelling unit on or below the third floor of an elevated radon test or conducts a test that indicates an elevated level the lessor must disclose the elevated radon level to any prospective lessee of that dwelling unit. The original bill would have enacted a comprehensive tenant radon protection act that included extensive disclosure and testing requirements but the bill was amended as a result of concerns raised by the IAR.
Public Act 97-247 (HB 1209) amends the eviction provisions of the Code of Civil Procedure to now provide that an eviction complaint can request the amount of rent that would be due during any period during which a judgment for possession is stayed by the court.
Public Act 97-470 (HB 1233) Cook County landlords will be required to change or rekey the immediate access to a unit each time it is vacated and before a new lessee occupies the premises. The bill limits the liability of a lessor to damages due to a theft attributable to not changing or rekeying the lock.
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