Dear CAR Member,
Next week, C.A.R.’s Leadership Team and I will be in Washington, D.C., meeting with the California Congressional Delegation and housing regulators to discuss the issues most important to your business. We will be discussing the availability of mortgage finance and exploring ways to increase homeownership opportunities with Fannie Mae, Freddie Mac, and the FHA. We will also discuss the importance of real estate tax incentives, such as the mortgage interest deduction, with members of Congress. I’ll give you a full report in my next update.
At the state level, C.A.R.’s 2015-2016 legislative agenda has been set. This year, C.A.R. will be sponsoring the following eight bills:
- AB 205 (Wood) Squatters Pilot Program Jurisdictions – Adds the cities of Eureka and Fairfield and the counties of Humboldt and Lake to the pilot squatters program created by C.A.R.-sponsored AB 1513 (Fox) of 2014.
- AB 237 (Daly) Parcel Tax Vote Notification – Requires a city, county or special district (e.g., school districts, hospital districts, etc.) to provide at least 90 days’ notice of a vote to impose a parcel tax to all property owners.
- AB 345 (Frazier) Continuing Education – Earmarks three hours of a broker’s existing 45 hours of continuing education for a course on the management and supervision of real estate licensed activity while also permitting salespersons to take the course as well.
- AB 607 (Dodd) Bonds for Unlicensed Employees – Allows bonds for unlicensed employees with access to broker trust funds to include a deductible of up to 5 percent.
- AB 685 (Irwin) Real Estate Law Cleanup – Clarifies that CalBRE can deny a license application based on an unpaid fine, revoke an erroneously/mistakenly issued license, and adds the filing of a criminal complaint charging a felony to the list of disciplinary activities licensees must report to CalBRE.
- AB 807 (Stone) Private Transfer Fees – Expands the current private transfer fee (PTF) recordation requirement to include PTFs whose payment does not occur at the time of the change in ownership or that are not based on sales price.
- SB 146 (Galgiani) Team Names – Clarifies that “team names” not requiring a fictitious business name (FBN) for purposes of the real estate law do not require the filing of an FBN with their local county.
- SB 474 (Wieckowski) Credit Bids – Adds into statute a definition of “credit bids,” which were exempt from the “shill bidding” prohibition in C.A.R.-sponsored AB 2039 (Muratsuchi) of 2014.
April is only a few days away and that means Legislative Day 2015 and the Midyear Luncheon are just around the corner. This year, C.A.R.’s annual Legislative Day is on Wed., April 22, at the Sacramento Convention Center. You’ll have 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 we are fortunate to have Assembly Speaker Toni Atkins and Assembly Republican Leader Kristin Olsen address our group. They will both share their thoughts on housing affordability and how state government impacts real estate.
Check out this brief video of REALTOR® testimonials sharing how Legislative Day has impacted them. Get more information about Legislative Day or email DeAnn Kerr at deannk@car.org. To register for Legislative Day, contact your local association of REALTORS®.
While you’re in Sacramento, plan to attend the Midyear Luncheon, with C.A.R. CEO Joel Singer on Thursday, April 23, also at the Sacramento Convention Center. Titled, “The Evaporating Dream of Homeownership,” Singer will address how today’s pressing housing and economic issues will influence the industry’s future. You’ll walk away with insight into who makes up the “lost generation,” the relationship between the affordability crisis and supply shortage; the role of millennials in today’s market; and if the “renter nation” is our new reality. Save $10 off the regular price and purchase your tickets now for only $55. Tickets may be available on-site for $65, but REGISTER TODAY AND SAVE $10. Purchase tickets now.
Lastly, nominations for C.A.R.’s third annual Champions of Home Awards are now open, and for the first time, we’re accepting self-nominations. The annual Champions of Home award recognizes REALTORS® who have exceeded expectations by going far above and beyond in client service. They’re life-changers, standard-raisers, and inspirational role models, driven by passion to help clients beyond the boundaries of a typical transaction. If that sounds like you or someone you know, don’t miss this opportunity for recognition and publicity. Award recipient(s) will be celebrated at a high-profile event during CALIFORNIA REALTOR® EXPO in San Jose this October, along with being featured in California Real Estate magazine, and starring in a C.A.R. video.
This year, a brand new online application process makes nominating even easier. To get started, create a user profile, and click through the step-by-step nomination process at your convenience. You can even save your work and return to it at a later date. Nominations are open through May 4, 2015.
Have a great weekend. I’ll talk with you next month.
Sincerely,
Chris Kutzkey
2015 President
CALIFORNIA ASSOCIATION OF REALTORS®