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

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.

Finally, we are being more aggressive in politics with our political assessment. You may be asking why now?
The reason is that political involvement is critical to our profession and livelihood. California faces an epic deficit and the real estate transaction looks like an easy target to legislators and local government officials. We must remain vigilant against those who would place restrictions on private property rights or on our right to conduct business, and ensure that our interests are fairly represented.

Over the past few years, the coffers of C.A.R.’s political action committees (PACs) have dwindled, and despite a strong presence and a team of dedicated individuals working on our behalf at the capital, so has our influence. In the last three years, a smaller percentage of REALTORS® have contributed to C.A.R.’s PACs—20 percent versus 30 percent in 2006.

After much deliberation, your board of directors made the difficult decision to adopt a special purpose political assessment for 2011. You see, until recently, C.A.R.’s California Real Estate Political Action Committee (CREPAC) was in the top 10 of PACs in California. C.A.R. was able to support incumbents and candidates who share C.A.R.’s attitudes, values, and beliefs on real estate and private property rights. In the last three years, CREPAC has fallen to 37th in rank. Organized real estate must stay competitive with others who often are in opposition to REALTORS®’ best interests if left unchallenged.

In order to remain effective in these tough political times, all C.A.R. members must support the cause of electing REALTOR®-friendly legislators. Our livelihood depends on a strong presence in Sacramento.

That’s why I wholeheartedly support your board of directors in their decision. Thank you for your support with this issue. I hope to see you at EXPO.

Sincerely,

Steve Goddard
2010 President
CALIFORNIA ASSOCIATION OF REALTORS®