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 Daniel Allen  Thursday, August 26th, 2010 California’s legislature has recently passed SB 1178 (Corbett), C.A.R.’s sponsored bill to extend anti-deficiency protection to homeowners who have refinanced. C.A.R. is asking all California REALTORS(r) to contact Governor Schwarzenegger to urge him to sign SB 1178.
Please Contact Governor Schwarzenegger TODAY to urge him to sign SB 1178! Continue reading: Urge Governor to Sign SB 1178!
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Caylyn Brown Friday, August 20th, 2010
SB 1178, sponsored by C.A.R., the anti-deficiency bill designed to protect homeowners who refinanced for better interest rates passed out of the Senate and Assembly and is how headed to the Governor’s desk. The Governor now has 30 days to sign or veto this important bill.
Jim Wasserman posted a great piece in today’s Bee on the bill: http://www.sacbee.com/2010/08/20/2971114/home-front-california-bills-aim.html
Daniel Allen Tuesday, August 17th, 2010
 Steve Goddard - 2010 C.A.R. President Dear C.A.R. Member,
Summer is coming to a close and with it brings the expiration of one of California’s tax credits. As of this writing, California’s first-time home buyer tax credit expired effective midnight, August 15. That announcement came after the Franchise Tax Board (FTB) realized it had received more than enough applications to cover the $100 million allocated for eligible first-time home buyers. It is encouraging to learn that more than 33,000 Californians have taken advantage of this credit.
When working with your buyers, keep in mind that the FTB will continue to accept applications for the state’s New Home Credit. As of this writing, the state had received 12,090 reservation requests and applications, which is expected to utilize nearly 80 percent of the $100 million allocated to this program. The FTB will stop accepting applications for that program once it determines it has received sufficient applications and requests. You can follow that tax credit’s status at http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml.
One tradition for me and many of your colleagues is your Association’s annual Tech Tuesday and CALIFORNIA REALTOR® EXPO. The event always presents top-line speakers and sessions, plus a chance to learn new business skills and technologies that will aid you in adapting to a market that is still in recovery mode. This year’s event, Oct. 5-7 at the Anaheim Convention Center, has been revamped, and if you’re a regular attendee, you’re in for a surprise: The content and the format are radically different. If you’ve never attended, plan to—you won’t be disappointed. Social media, millennial movers and shakers, cloud computing, and two new workshops, “speed dating” and a ReBar Camp, will take center stage. You can pick and choose sessions a la carté-style or choose one of our four educational tracks and stay in a designated lane during the event—your choice. This event is free, but registration is required. If you haven’t registered for CALIFORNIA REALTOR® EXPO 2010, take a few minutes to sign up today by visiting http://expo.car.org or calling toll-free (800) 242-2732. Tech Tuesday, which precedes CALIFORNIA REALTOR® EXPO, has a separate paid admission and offers a full day of technology training, will be held Oct. 5 at the Anaheim Convention Center.
Continue reading: Your August Message from C.A.R. President Steve Goddard
Paula Hess Wednesday, July 28th, 2010
SAVING YOU TIME
June sales report in 2:56 minutes. That’s all the time you need to view C.A.R.’s “June Market Update” presented by C.A.R. Chief Economist Leslie Appleton-Young. Find this video on the home page of car.org, where you can hyperlink to it, upload it to your Web site, or e-mail it to your clients.
If you prefer the printed word, find C.A.R.’s “June Sales and Price Report” at http://www.car.org/newsstand/newsreleases/junereport/. Here, you’ll find additional information, including charts and graphs, regional data, and the Unsold Inventory Index by price point, that are not available in the above video.
Learn Smartphone tips and tricks on the fly at Mobile Jolt! These two 60-minute sessions at CALFORNIA REALTOR® EXPO 2010 will serve up java and apps. Bring your phone; we’ll supply the caffeine. For only $10 per workshop, you can join us for hands-on instruction and an introduction to the latest and greatest apps for your Smartphone (http://expo.car.org/workshops.html).
Tweet and Friend HAFA: Join C.A.R’s Certified HAFA Specialist community on Facebook and Twitter to learn from and share insights with HAFA expert Ray Mathoda and other REALTORS®. Participation is free. Join the Facebook Fan Page (Certified HAFA Specialist [CHS] at http://www.facebook.com/#!/pages/Certified-HAFA-Specialist-CHS/108110262571299?ref=sgm or follow on Twitter (CHS_HAFA Specialist at http://twitter.com/HAFASpecialist). Learn more about C.A.R.’s HAFA Certification program(http://www.hafacertification.com/).
Continue reading: Your Membership, Your Way – July 2010
Steve Goddard Thursday, July 15th, 2010
Steve Goddard - 2010 C.A.R. President Dear C.A.R. Member,
Good news bears repeating.
President Obama recently signed a bill extending the closing deadline for the federal
home buyer tax credit to Sept. 30, 2010. The NATIONAL ASSOCIATION OF REALTORS® estimates that as many as 17,700 home buyers in California would not have received the tax credit without the extension. Perhaps you know someone who now will benefit from this legislation.
The president also signed HR 5569, the National Flood Insurance Program Extension Act of 2010, funding the program through Sept. 30, 2010—good news for homeowners in the Sacramento-San Joaquin Valley and other 100-year floodplains. As you know, flood insurance is required for mortgages on properties in a 100-year floodplain. Congress has allowed the program to lapse three times this year, forcing many real estate transactions to be put on hold and, in some instances, cancelled. What happens in Sacramento and Washington, D.C., really does matter to your business.
The passage of these two pieces of legislation—which C.A.R. and NAR advocated for—demonstrates the importance of REALTOR® involvement in government. Legislative wins such as these require a focused and relentless presence at the state and national levels.
C.A.R.’s advocacy in the political arena this year also helped preserve property profiles after title companies stopped providing them in reaction to a letter issued by the Department of Insurance; thrice defeated a 3-percent independent contractor withholding proposal that would have accelerated income tax payments for our members; and defeated point-of-sale retrofits proposed through several pieces of legislation that could have added as much as $20,000 per home prior to closing escrow.
Continue reading: Your July Message from C.A.R. President Steve Goddard
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Nelson Janes Wednesday, July 7th, 2010
Board Action
The Board of Directors adopted a political assessment of $49 per Member beginning with the 2011 dues cycle. This assessment is for the California Real Estate Political Action Committee. If the C.A.R. Member chooses, the assessment can go instead to the C.A.R. fund for non-candidate political purposes.
The Board also approved a new structure for the statewide MLS that will merge calREDD® with the Multi-Regional Multiple Listing Service Inc. (MRMLS). After the merger, the state’s system will be called CALMLS. An additional $750,000 was also approved for the CALMLS line of credit.
SAR Successes
- SAR received the award for raising more money for the REALTOR® Action Fund than any other large association in the state – nearly $127,000!
- SAR’s Housing Opportunity Committee also won a $50,000 grant from the C.A.R. Housing Affordability Fund. The Association will more than match that amount to launch a new program that will give grants to homebuyers needing to make energy upgrades. Watch for the announcement of this new program that will help more buyers qualify to improve the energy use and comfort of their home.
- Our newly formed REALTOR® Action Fund (RAF) Committee secured a grant from the NAR to host a fundraising event for RAF, which they did in conjunction with Legislative Day.
Committee Reports
The Legal Action Fund Trustees have reviewed eight cases and requests for funding since their February meeting. The Trustees authorized three amicus briefs.
A landmark decision by the California Supreme Court occurred in the case of Steiner v. Thexton, supported by the Legal Action Fund. C.A.R. was concerned about the impact on the RPA-CA because of the buyer’s ostensible right to cancel a contract due to the failure of a contingency without having to state a reason. The Supreme Court acknowledged C.A.R.’s concerns as expressed in a brief and indicated in a footnote that “bilateral contracts subject to a contingency, which are widely used in real estate transactions, are not affected by our holding.”
Continue reading: C.A.R. Legislative Week Meetings Report
Caylyn Brown Tuesday, July 6th, 2010
On July 2, President Obama signed into law H.R. 5569, an extension of National Flood Insurance Program (NFIP) authority until September 30. The bill is retroactive and will cover the lapse period from June 1 to the date of enactment. NAR will continue to work with Congress on the 5-year NFIP Reform bill and will continue to provide regular updates on our efforts.
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Caylyn Brown Tuesday, July 6th, 2010
It wasn’t pretty, and the debate went well into the evening, but on June 30 the Senate passed a stand- alone bill that extended the date for closing on a tax credit-eligible home from June 30 to September 30, 2010. The bill passed the Senate on a voice vote in a process known as “unanimous consent.” A stand-alone bill is a single issue bill that contains just one provision (and, if needed, its “pay-fors.”) Stand-alone tax bills are a rarity in the Senate, but the urgency was well understood. Earlier in the week, the House had passed a stand-alone extension (HR 5623) by a vote of 409 – 5.
The White House has said that President Obama will sign the bill, although the timing for the signing is not yet known. The extension is seamless, so closings that occur between July 1 and the date the President signs the legislation will satisfy the requirements of the credit. In order to get the benefit of this closing date extension, the parties must have entered into a contract for the purchase on or before April 30, 2010.
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Barbara Harsch Friday, July 2nd, 2010
 My client wants to list a house that is in probate. How do I do that? Is it really true that some homes downtown are not connected to the sewer line? What is a dye test? How can I make Facebook work for me?
The answers to these and other questions can be answered through EDUCATION. The Education Committee keeps arranging wonderful classes from Lunch and Learns on small topics to national trainers on large problems. There are certification classes, classes for DRE credit and just ones that are darn interesting! I am looking forward to the one on body language being taught in July.
There are informative speakers at the Finance Forum, the Main Meetings, the Regional Meetings, the Public Issues Forum and the Industry Update Forum. It is true that one can never know too much about one’s profession. As REALTORS® we pride ourselves on professionalism. It is what sets us apart from a non-REALTOR® licensee.
Congratulations to Deniece Ross-Francom, Chair, Leon Williams, Co-chair and the whole Education Committee for having as many students through our classes year-to-date as we had all of last year.
Here are some of the numbers. By the end of June, we held 55 classes, with more than 2,500 students in attendance. In 2009, we had offered 44 classes by June with an attendance of 1,475.
It has been a full year since the Broker Tuition Card was introduced. This card entitles owners to a full 12-months worth of training for only $200 (designation, video seminars and home studies excluded). The card has saved card holders an average of $250 in classes. It has saved a number of offices over $1,000. Broker tuition card users account for 400 of the 2,500 attendees year-to-date.
Ask your broker about the Broker tuition card, which will allow one person per card per class. Check our progress in each month’s SAR newsletter. You are never too old to learn!
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