Last month, C.A.R.’s Leadership Team and I were in Washington, D.C., meeting with the California Congressional Delegation and housing regulators to discuss the issues most important to your business. We discussed high guarantee fees, tight credit requirements and mortgage finance reform in meetings with Fannie Mae and Freddie Mac. We also discussed flood insurance with members of Congress, and I’m happy to report that just yesterday, the Senate passed a bill that would roll back government-sponsored flood insurance premiums that were raised as the result of unintended consequences of legislation passed in 2012 (The bill now goes to President Obama for his signature). We met with California Congressional members to discuss Federal Housing Administration (FHA) loan limits, which were drastically lowered this year. As a direct result, Reps. Gary Miller (R-CA), along with Brad Sherman (D-CA), Ken Calvert (R-CA) and Jerry McNerney (D-CA) just this week, introduced a bill to reverse and prevent future declines in the FHA loan limits. We commend Congressmen Miller, Sherman, Calvert and McNerney for introducing this important legislation so that homebuyers across the state can have access to affordable mortgage capital through the FHA mortgage program.
At the state level, C.A.R.’s 2014 legislative agenda has been set. This year, C.A.R. will be sponsoring the following nine bills:
- AB 1513 (Fox) Squatters to specifically define the unlawful entering or possession of any real property and provide local agencies authority to evict such unlawful occupants.
- AB 2018 (Bocanegra) CalBRE “Team Names” to provide needed clarification in the regulation of “team” names by CalBRE.
- AB 2039 (Muratsuchi) Auction Companies to require an auction company that takes over management of a sales transaction from a listing agent to hold the original listing agent harmless for any liability created by the auction company’s actions.
- AB 2136 (Daly) Electronic Transaction Documents to require that short-lived electronic communications (e.g., tweets, texts, etc.) must be reduced to a durable, retainable form before they are considered a “document” that is subject to the document retention requirements of the CalBRE.
- AB 2169 (Cooley) Independent Contractors to clarify that the independent contractor status within existing law remains a legal option.
- AB 2430 (Maienschein) CID Document Bundling This measure will provide more specific document delivery and disclosure standards and tighten the anti-bundling provisions in connection with condominium sales and HOA document delivery requirements
- AB 2540 (Dababneh) Email Address Collection by CalBRE to require licensees to provide and maintain a valid email address as part of their license application or renewal process so that CalBRE can communicate with licensees in a cost-effective and efficient manner.
- SB 1091 (Galgiani) Central Rulemaking Registry will require state agencies to submit pre-rulemaking activities for publication by the Office of Administrative Law (OAL) in its California Regulatory Notice Register (Register). SB 1091 also requires the Register to serve as a central repository complete with a searchable and subscribable website by Jan. 1, 2017.
- SJR 19 (Correa) Federal Loan Limits: The Federal Housing Finance Agency has requested comments on a proposal to decrease national conforming loan limits. C.A.R. is SPONSORING this joint legislative resolution declaring the California State Legislature’s support to preserve existing federal loan limits.
May will soon be upon us, and that means Legislative Day 2014 and the Midyear Luncheon are just around the corner. Legislative Day is an opportunity for REALTORS® from across California to meet with their state legislators to discuss the issues that affect the real estate industry. Attending Legislative Day is not only a great investment in your business, it also provides you with an opportunity to hear from the state’s most dynamic political leaders and the leadership of your state association. For example, California Gov. Jerry Brown, who always draws a large crowd, has been confirmed to attend and share his thoughts on the economy and the state budget. Please plan to attend Legislative Day on Wed., April 30, at the Sacramento Convention Center.
While you’re in Sacramento, plan to attend the Midyear Luncheon, with C.A.R. CEO Joel Singer on Thursday, May 1, at the Sacramento Convention Center. Titled, “The Housing Dilemma: Sustaining California’s Housing Market,” Singer will address what’s next for the real estate market and discuss such timely issues as housing affordability, new construction, consumer demographics, and the role of the first-time home buyer. 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. For more information and to purchase luncheon tickets.
Lastly, nominations for C.A.R.’s 2nd annual Champions of Home Awards are now open. Don’t miss this opportunity to get recognition and publicity for an amazing REALTOR® you know. The award honors REALTORS® who’ve made a meaningful impact by going far above and beyond what’s expected of them in service to their clients. A Champion of Home is a California REALTOR® who changes clients’ lives for the better, raises the standards for others, inspires by example, and possesses unimpeachable ethics. Last year, San Diego REALTOR® George Kenner, Ione REALTOR® PJ Johnsen, and San Juan Capistrano REALTOR® Robyn Webb set a tremendous example to others for their dedication and passion as the very first Champions of Home. See how George, PJ, and Robyn led by example.
Recipients will be honored at CALIFORNIA REALTOR® EXPO in Anaheim in October. Their stories will be told with a video shown at the awards ceremony and a feature article in California Real Estate magazine. Nominations will be accepted through April 30, 2014. Don’t wait – send in your nominations today. Visit http://on.car.org/cohawards for complete information and nomination forms or contact cohawards@car.org or 213-739-8320 with questions.
Have a great weekend. I’ll talk with you next month.
Sincerely,
Kevin Brown
2014 President
CALIFORNIA ASSOCIATION OF REALTORS®