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Your May Message from C.A.R. President Steve Goddard

Steve Goddard - 2010 C.A.R. President

Steve Goddard - 2010 C.A.R. President

Dear C.A.R. Member,

Greetings from Washington, D.C.! This week, your Leadership Team and I are in our nation’s capital, meeting with California’s congressional delegates and representatives from leading housing industry groups, including Fannie Mae and Freddie Mac, HUD, the Mortgage Bankers Association, and others. Tomorrow, we’re meeting with Senator Boxer’s Chief Economic Advisor, Marcus Stanley, and Housing Coordinator Jeff Moscovitz. On Thursday, we’ll meet with FHA Commissioner David Stevens, and on Friday with Grace Cooper, the acting director of the Veterans Administration, and Bill White, the VA’s loan service supervisor.

What happens in Washington has far-reaching implications for the housing market back home in California and its impact reverberates through all facets of the real estate industry, including our own. That’s why it’s more important than ever to become involved in the political process. Our goal in Washington is to make certain that our interests are represented, and that our voices are heard, before elected officials craft legislation impacting our industry.

This is a busy time of year in the legislative arena, on both the national front and in California. Following our federal lobbying trip, nearly 2,000 REALTORS® will converge in Sacramento on June 9 for the Association’s annual Legislative Day activities. Legislative Day is a great way to meet face-to-face with your state legislators to discuss the issues that affect our industry — and your livelihood — the most. Assembly Speaker John Pérez and Senator Dennis Hollingsworth are set to kick off the Morning Briefing, followed by opportunities to meet with your own elected officials in the afternoon.

If you’ve always wondered how Sacramento works, or what elected officials really do, this is your opportunity to find out firsthand. If you’ve never participated, I hope you’ll consider doing so this year – please add your voice with that of other REALTORS® and join us.

Continue reading: Your May Message from C.A.R. President Steve Goddard

TDS to be Amended for Home Safety Devices

TDS-11 Real Estate Transfer Disclosure Statement

Starting January 1, 2011, the Real Estate Transfer Disclosure Statement (TDS) will be amended to streamline the disclosure of home safety devices. First, the TDS will include a new disclosure of whether the seller has a carbon monoxide detector. This disclosure addresses a new law requiring California homeowners to install or plug in a carbon monoxide device in an existing single-family residence by July 1, 2011 (next year), and other existing dwelling units by January 1, 2013. The new TDS will specifically state that installation of a carbon monoxide detector, among other appliances and devices, is not a precondition of sale or transfer of the dwelling.

Second, the TDS will be amended to incorporate a seller’s certification that, by close of escrow, the seller will be in compliance with existing requirements for smoke detector and water heater bracing. Effective January 1, 2011, the new TDS will eliminate the need for a separate standard form Water Heater and Smoke Detector Statement of Compliance (C.A.R. Form WHSD) for applicable transactions.

The new requirement to install or plug in a carbon monoxide detector will apply to dwelling units with a fossil fuel burning heater or appliance, fireplace, or attached garage. “Fossil fuel” means fuel gases, wood, oil, coal, kerosene, or other petroleum or hydrocarbon products that emit carbon monoxide as a combustion byproduct. Special rules apply to residential landlords.

Continue reading: TDS to be Amended for Home Safety Devices