Dear Member,
Early this month, C.A.R.’s Leadership Team and I were in Washington, D.C., meeting with more than 30 members of Congress, the Federal Housing Administration (FHA), the Federal Housing Finance Agency (FHFA), Fannie Mae, Freddie Mac, and the Consumer Financial Protection Bureau (CFPB) to discuss the issues most important to your business.
At the Capitol, we discussed protecting real estate tax incentives, such as the mortgage interest deduction and like-kind exchanges (aka 1031 exchanges), as well as mortgage finance reform to ensure that California’s homebuyers will have access to safe and affordable mortgages. We asked Congress to begin its work on a long-term reauthorization of the National Flood Insurance Program so that there will be no gaps in policy coverage. We also discussed the need to improve the program and insurance options so future rate increases are not as high as last year’s.
In our meetings with regulators, we asked them to make mortgages more available to qualified borrowers and to ease condo rules so more condominium projects can qualify for FHA, Fannie Mae, and Freddie Mac financing. Lastly, we talked about California’s use of the Property Assessed Clean Energy program (PACE) and its impact on transactions and mortgage availability.
At the state level, C.A.R.’s 2016 legislative agenda has been set. This year, C.A.R. will be sponsoring 11 bills, including the following:
- AB 2476 (Daly) Parcel Tax Vote Notification – This bill requires a city, county or special district to provide notice to ALL property owners, including non-resident property owners, when a proposed parcel tax will be placed on the ballot.
- AB 2668 (Mullin) Property Taxation: Base Year Value Transfers – This bill provides that the base year value of a principle residence may be transferred to a replacement home of greater value.
- AB 2760 (Mathis) Rental Housing: Support Animals – This bill will create clarity by defining in California law what constitutes a support (sometimes referred to as companion) animal for purposes of rental housing.
For a full list of 2016 C.A.R.-sponsored bills, please visit the Government Affairs section on car.org.
Did you know more than 36,000 REALTOR® members in our state are not registered to vote? This year is an election year and California’s Primary Election Day is June 7, 2016. If you’ve moved or need to vote by mail, you can easily register online. Permanent absentee is the easiest way to vote; your ballot arrives by mail and you can vote at your convenience. Voter registration forms are available at your association office. The registration deadline for paper registration forms is May 23, 2016. Getting involved is key to protecting the issues important to our industry. When REALTORS® are engaged in the electoral process, elected officials listen to our concerns!
April is just a couple of weeks away, and that means Legislative Day 2016 and the Midyear Luncheon are just around the corner. This year, C.A.R.’s annual Legislative Day is on Wednesday, April 27. Legislative Day is an opportunity to hear from top political speakers; learn how legislation impacts your business, your clients, and the real estate industry; meet with your state legislators; network with other REALTORS® and have a great time doing it all. This year Gov. Jerry Brown, who always draws a large crowd, has been confirmed to attend and will share his thoughts on the economy and the state budget.
Check out this short video of REALTOR® testimonials sharing how Legislative Day has impacted them. Get more information about Legislative Day here. To register for Legislative Day, contact your local association of REALTORS® and for more information, contact DeAnn Kerr at deannk@car.org.
While you’re in Sacramento, plan to attend the Midyear Luncheon with C.A.R. CEO Joel Singer on Thursday, April 28, at the Sacramento Convention Center. Joel will discuss how disruptors and pretenders are competing for real estate market share, how they are changing your future, and how they are already impacting the way you do business. Register and get your tickets now to take advantage of early-bird ticket pricing of $60 and save!
I hope to see you in Sacramento!
Sincerely,
Pat “Ziggy” Zicarelli
2016 President
CALIFORNIA ASSOCIATION OF REALTORS®