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IN THIS ISSUE

CAA News
  • 2013 Trade Show & Education Conference
  • CAA Golf Outing is May 17


  • Education In Focus
  • Certified Pool Operator certification program


  • Industry News
  • Investors pile into housing, this time as landlords
  • Chicago no. 2 in super-fast home sales
  • The US simply doesn't have enough available rental housing
  • Owner of Luxury Living Chicago Realty, Aaron Galvin, fields questions
  • Real-estate market trends: Existing home sales, prices up
  • Pre-leasing begins at Wheaton apartment development
  • Apartments planned at Streeterville's former North Pier Terminal
  • Low income households struggle to afford rental housing in Pennsylvania




  • 2013 Trade Show & Education Conference only 3 weeks away!
    CAA
    Feeling powerless? In his high-energy presentation 2013 Trade Show & Education Conference speaker Eddie Slowikowski will share in "The Power of One" how you have the ability to take charge of your life and develop concrete action plans for the future. Slowikowski guides participants on a path to leadership through specifically designed exercises and concrete solutions for your life. To register for classes like this or to walk the show floor for free, click here to register online, or here for a faxable registration form. A full list of classes, descriptions and times is available here. Nonexhibiting vendor companies are not allowed.
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    CAA Golf Outing is May 17 — perfect for fun and networking
    CAA
    CAA Golf Outing Sponsorships — 50 percent sold! Updated available spots on CAA website.
    Golfers — online registration now open!

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    Certified Pool Operator certification program — 8 a.m. to 4:30 p.m. April 24-25
    CAA
    The Illinois Department of Public Health requires pools and spas to meet water quality and safety standards and enforces these through rigorous inspections. The last thing you want is to have your pool shut down during a prime summer event due to a failed inspection. Join us for our new, two-day CPO certification program and learn the information vital for safe swimming pool and spa operations.
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    Investors pile into housing, this time as landlords
    The Wall Street Journal
    Jeff Pintar had buyer's remorse as he purchased 12 foreclosed homes in five Southern California counties on a single day. His regret: that he didn't buy more homes a year earlier. "Things have turned around faster than anyone anticipated," said Pintar, who first began buying properties here four years ago and now owns or manages 1,700 homes, which he rents out for between $1,000 and $3,800 a month. U.S. housing recoveries almost always have been ignited by rising demand from families and individuals looking for a place to live. This recovery is different.
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    Chicago no. 2 in super-fast home sales
    Crain's Chicago Business (subscription may be required)
    Chicago-area homebuyers are snapping up new listings faster than almost any other city in the country, the result of a dwindling supply of homes in what is still considered a buyer's market. Chicago ranked No. 2 for so-called "flash sales" — homes that go under contract in 24 hours or less — with 261 sales recorded in the past five months, according to a report released by Seattle-based Redfin. Only Phoenix ranked higher, with 540.
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    The US simply doesn't have enough available rental housing
    The Atlantic Cities
    The Census Bureau says there are about 41 million renter households in the United States, a group making up about 35 percent of the country. And the renter ranks are expected to swell this decade as the housing demand of baby boomers and their children starts to converge. Twenty-somethings who've been living at home during the recession will finally move out to form their own households. Many baby boomers, meanwhile, are expected to downsize into smaller rentals units where they won't have to mow their own lawns.
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    Top rental broker and owner of Luxury Living Chicago Realty, Aaron Galvin, fields questions
    Curbed Chicago
    Aaron Galvin, managing broker and owner of Luxury Living Chicago Realty and downtown's top rental broker writes: "The Chicago rental market has been fascinating over the last 18 months. We are already seeing a big change in 2013 from last year. 2012 was the year of shock and awe. Pricing on rental apartments just kept climbing 10, then 15, then 20 percent higher than 2011. Availability was limited because renters were staying put and there was nothing new to move into. It certainly didn't seem like a good time to buy either.
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    Real-estate market trends: Existing home sales, prices up
    Millionaire Corner
    Existing home sales rose 0.8 percent in February, while existing home prices increase 11.6 percent. Twelve consecutive months of gains has pushed the median existing home price up to $173,600 in February, a year-over-year increase of 11.6 percent and the largest annual gain since November 2005. "A strong rise in home values is contributing to housing wealth recovery, which has risen by $1.4 trillion in the past year and looks to top that increase this year," Lawrence Yun, the association's chief economist, said in a statement.
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    TRENDING ARTICLES
    Missed last week's issue? See which articles your colleagues read most.

        Related Midwest president wants to dot skyline with indelible structures (TradingCharts)
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    Don't be left behind. Click here to see what else you missed.


    Pre-leasing begins at Wheaton apartment development
    Chicago Tribune
    Pre-leasing has begun at Wheaton 121, a new luxury rental building in downtown Wheaton by Chicago-based developer Morningside Group. Occupancy is expected by September. Rents start at $1,265 a month for the 306-unit midrise, which includes studios and one-, two- and three-bedroom apartments. Units range from 558 to 1,509 square feet.
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    Apartments planned at Streeterville's former North Pier Terminal
    Crain's Chicago Business (subscription may be required)
    The former North Pier Terminal, a 108-year-old former warehouse in Streeterville that never made it as an office and retail complex, soon could be reincarnated as a loft apartment building. A group led by Chicago investor William O'Kane has acquired the 547,200-square-foot brick building along the Ogden Slip with plans to turn it into rental housing, according to people familiar with his plans.
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    Low income households struggle to afford rental housing in Pennsylvania
    The Scranton Times Tribune
    With interest rates at record lows and home values that plunged, buying a home in Pennsylvania's Scranton/Wilkes-Barre area has never been more affordable. But low-income households shut out of the home market, or not in it, are struggling to afford an apartment or rental unit, according to a study released by the National Low Income Housing Coalition to looks at the rental unit costs relative to local income.
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    CAA In Focus
    Colby Horton, Vice President of Publishing, 469.420.2601
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