Dear CAR Member,
I have good news if you’re working with clients looking to buy a condominium. Just this week, the U.S. Dept. of Housing and Urban Development (HUD) announced new rules that will make it easier for condo buyers to obtain FHA-insured loans. The new rules will allow your clients to obtain low down payment mortgages on condos. Both C.A.R. and NAR have long championed policy changes in condo lending. See the specific changes here, which go into effect mid-October.
The Legislature is back in session, and C.A.R. is asking all members to call their Assembly member and urge him/her to vote “no” on SB 329. This bill effectively forces ALL residential rental property owners to participate in the voluntary Section 8 housing program. Proponents are framing this as an anti-discrimination bill. Even if you have made this call on a previous Alert for SB 329, it is VITAL to do so again as we are targeting your Assembly members before they vote for this bill on the Assembly Floor!
Can you believe REimagine! Conference and Expo is just around the corner? It’s going to be a great week in Los Angeles packed with thought-provoking content, opportunities to meet with vendors in the exhibit hall and interactive networking opportunities throughout L.A. Live. While you’re there, don’t miss seeing speakers from Procter & Gamble, TOMS®, FabFitFun, stars of Bravo’s Million Dollar Listing L.A. Josh and Heather Altman, and much more. The learning begins on Tuesday, Sept. 24, with our paid Masterclass day featuring tracks for brokers and YPN, and sessions on social media, RPA training and transaction coordination. Transform your business with one of these full or half-day tracks, followed by an exclusive networking reception with rooftop views, sips and light appetizers. On Wednesday, Sept. 25, and Thursday, Sept. 26, meet face to face with more than 200 exhibitors that have tools to grow your business, attend over 40 free learning sessions and take part in new experiences. Invite your office, tell all your colleagues, and make sure to register in advance at reimagine.car.org. I can’t wait to see you there!
Lastly, August has been designated as Month of Giving, and in honor of the 5th annual event, C.A.R.’s YPN is hosting a fundraiser on behalf of C.A.R.’s Disaster Relief Fund. The fund helps members of the REALTOR® family who have incurred substantial losses due to natural disasters. Last year, C.A.R. distributed nearly $600,000 to REALTORS® and their communities who suffered damages caused by the Camp, Woolsey and Hill fires in Northern and Southern California. Please help C.A.R.’s YPN reach its fundraising goal by giving here.
Have a great weekend.
Sincerely,
Jared Martin
C.A.R. President