One of the benefits of your C.A.R. membership is C.A.R.’s lobbying efforts both at the state and federal levels. In late May, the Senate Appropriations Committee linked C.A.R.-sponsored bill SB 30, which provides tax relief to those who are selling a home in a short sale, to SB 391, a C.A.R.-opposed bill that creates a recording tax. This link, in the form of an amendment, says that SB 30 cannot take effect unless SB 391 does as well. While we are troubled by this transparent political maneuver meant to force C.A.R. to support the recording tax, C.A.R. will continue to work toward the passage of SB 30, the defeat of the recording tax, and the delinking of the two bills. The Legislature currently is preoccupied with approval of the state budget. In the meantime, SB 30 is awaiting a vote by the entire Senate, and SB 391 will soon have its first hearing in the Assembly. Thank you to the thousands of REALTORS® who contacted their senators in support of SB 30 and in opposition to the recording tax. Look for more Red Alerts on these bills in the future.
A debate has arisen recently about intellectual property, technology, and the unauthorized use of C.A.R. Standard Forms by certain software providers. C.A.R.’s real estate forms are the “gold standard” in California real estate. C.A.R.’s standard forms policy safeguards you, your clients, and the industry when it protects its valuable forms. Through the active involvement of our members, C.A.R. invests considerable time and resources in developing these forms, which are designed for trained real estate professionals, to ensure their usefulness and accuracy. Additionally, under C.A.R.’s User Protection Agreement, C.A.R. stands behind those forms in court. Through its zipLogixSM subsidiary, C.A.R. licenses its forms to other companies that can provide a safe and secure environment for e-signatures, such as DocuSign, Cartavi, and Sure Close, eliminating risk management concerns and giving members a reliable choice. Read more details about how C.A.R. protects its members in the development of its forms.
The California real estate market seems to be turning the corner, but I don’t have to tell you it’s still tough when it comes to finding homes on the market to sell. With housing inventory at historical lows and buyers willing and able to buy homes, many REALTORS® are wondering how to get new listings. Join us on Wed., June 26, 2 p.m.-3 p.m., for another of our new Hot Topics Webinars as California REALTOR® Larry Matos discusses new and creative avenues his agents at Century 21 have successfully pursued to increase inventory in their market. Register for this free webinar.
While distressed property sales in California have declined significantly since last year, many of you of you are still working with short sale clients. To help you navigate Fannie Mae standard short sales, C.A.R. is hosting a free webinar next Wed., June 19, 11 a.m. – 12:30 p.m. You’ll get the latest update on foreclosed and short sale properties and learn about tools to master the Fannie Mae Standard Sale transaction. More specifically, the webinar will cover topics such as borrower eligibility criteria, recommended list price guidance, offer review, closing requirements, and more. Attendees will also have the chance to ask questions about the standard short sale process during a Q&A session at the end of the webinar. Register here.
Another tool now available to help you with short sales or other issues with lenders in transactions is the C.A.R. Finance Helpline, a new member benefit to help members who encounter difficulties with lenders when handling short sales, REOs, deeds-in-lieu, or other transactions. C.A.R. members can contact the members-only Finance Helpline to receive one-on-one assistance and help with lender issues and questions about financing issues within a transaction. C.A.R. members can visit http://finance.car.org to complete pertinent information and will then receive a call back from a lender liaison. Members can also call the Finance Helpline at (213) 739-8383 or email financehelpline@car.org.
Also, if you happen to be located near San Jose or Sacramento, C.A.R. has two free events to help you tackle tough transactions. Members can attend the free Education & Escalation Workshops and meet one-on-one with the lenders/servicers that set the policies and procedures for each lending and servicing institution. Representatives from Bank of America, Chase, Citibank, and Wells Fargo, Fannie Mae, Freddie Mac, and HUD (FHA) will be in attendance at the workshops that take place Aug. 6 in San Jose, and Aug. 7 in Sacramento.
More information about the events may be found here.
It may only be June now, but it’s never too early to start planning for October. Join industry leaders and real estate trailblazers for high-powered sessions, energizing luncheon speakers, technology training, and more at CALIFORNIA REALTOR® EXPO 2013 at the Long Beach Convention Center, Oct. 8-10. This year, C.A.R. is bringing three big headliners to lead each of the luncheons. On Tuesday, Oct. 8, real estate mogul, author, and television’s Shark Tank panelist Barbara Corcoran leads the first luncheon of the event. Kenneth Cuckier, The Economist data contributor and author, hosts the Wednesday, Oct. 9, luncheon. And C.A.R. Chief Economist Leslie Appleton-Young will give her take on the 2014 California real estate market at the Thursday, Oct. 10, luncheon. C.A.R. is also introducing a new show format this year by offering three free days of core educational sessions and seminars. Members who seek to enhance their visit may purchase tickets to upgraded content such as bootcamps, conferences, and continuing education classes. Register today.
Sincerely,
Don Faught
President
CALIFORNIA ASSOCIATION OF REALTORS®