Urge Governor to Sign SB 1178!
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® to contact Governor Schwarzenegger to urge him to sign SB 1178.
Please Contact Governor Schwarzenegger TODAY to urge him to sign SB 1178! To send an automated message provided by C.A.R. Take Action, click here.
What’s At Stake:
C.A.R. is sponsoring SB 1178 (Corbett) to better protect homeowners going through foreclosure. SB 1178 will ensure that homeowners keep the same “anti-deficiency” protections they have in the original loan after the loan has been refinanced.
California’s anti-deficiency protection for “purchase money” mortgages says essentially that if a homeowner defaults on a mortgage used to purchase his or her home, the homeowner’s liability on the mortgage is limited to the property itself. The law has worked well since the 1930s to protect borrowers, ensure the quality of loan underwriting and allow borrowers brought down by financial crisis to get back on their feet.
Unfortunately, the 1930s law hasn’t kept up with current times. Current law doesn’t apply to loans used to refinance the original purchase debt, even if the refinance was only to gain a lower interest rate. Recent years of low interest rates have induced tens of thousands of homeowners to refinance their mortgages. During those years, almost no one realized that refinancing their mortgage to obtain a lower rate, they were forfeiting their protections and were becoming personally liable on the new note.
SB 1178 will correct this injustice by extending anti-deficiency protections to those who have refinanced their loans.
Campaign Expiration Date: October 1, 2010
Below is the sample letter:
Subject: SB 1178 (Corbett) — SUPPORT
Dear Governor Schwarzenegger,
As a California REALTOR®, I respectfully request that you sign SB 1178 (Corbett) to better protect homeowners going through foreclosure or short sales.
SB 1178 will extend existing anti-deficiency protections to those homeowners who have refinanced their home mortgage. When owners refinanced their home to get a better interest rate, lenders never told them that the protection is lost if they eventually lose their home to foreclosure — the lender can not only take their home, but also pursue them personally for the difference between the current value of the property and the new mortgage balance.
It is unfair to allow lenders to use this technicality, since most owners are unaware that they’ve lost their anti-deficiency protection when they refinanced.
I urge you to sign SB 1178.
Sincerely,
Your Name
To send an automated message provided by C.A.R. Take Action, click here.
HAFA Short Sale Experience?
What’s Your HAFA Short Sale Transaction Experience?
Tell C.A.R for a Chance to Win Lunch with Ray Mathoda, Advisor to Federal Policymakers on HAFA and Founder of AssetPlanUSA.
Do you have a HAFA short sale transaction experience or suggestion you would like to share with other REALTORS® making a difference?
C.A.R. wants to hear your HAFA experience or suggestion!
Share your successes, ideas, challenges with HAFA along with suggestions for improvement for the Treasury Department. Your submission will enter you into a contest for a chance to Win Lunch with Ray Mathoda*, Advisor to Federal Policymakers on HAFA and Housing Industry Entrepeneur and Founder of the Training and Education firm AssetPlanUSA, Inc. For more information about Ray Mathoda, visit http://raymathoda.com. See below for complete contest details*.
Tell C.A.R. on Facebook at Certified HAFA Specialist (CHS) or at http://www.facebook.com/#!/pages/Certified-HAFA-Specialist-CHS/108110262571299?ref=sgm.
Or tell C.A.R. on Twitter at CHS_HAFA Specialist at http://twitter.com/HAFASpecialist.
*Contest details: “Lunch with Ray Mathoda” contest will be held beginning Tuesday, August 24, 2010 through midnight on Tuesday, September 7, 2010. The winner will be drawn from all submissions received on the Certified HAFA Specialist (CHS) Facebook or Twitter accounts from 8/24/2010 through 9/7/2010. To enter without a submission please mail on a 3″x5″ card, your name, email, and phone number. 3″x5″ card must be received by 5:00 p.m. Tuesday, September 7, 2010. One winner will be announced on the CHS Facebook and Twitter accounts on Wednesday, September 8, 2010. The top five best HAFA improvement suggestions for the Treasury Department wil be chosen and re-posted on Thursday, September 9, 2010 on the Facebook and Twitter CHS accounts. Lunch with Ray must be scheduled and taken on or before December 31, 2010. Ray will come at Ray’s cost to the winner’s city and treat the winner to lunch at a place agreed upon by both parties. Winner must arrange their own transportation to the lunch location.
FHA Premium Increases
FHA premium increases postponed to Oct. 4
The Federal Housing Administration (FHA) announced last week it is pushing back the implementation date for new premium structures on FHA-insured mortgages to Oct. 4 from the original date of Sept. 7.
Following FHA Commissioner David Stevens’ recent announcement that up-front premiums for FHA-insured mortgages would be reduced beginning Sept. 7 from 2.25 percent to 1 percent, lenders expressed concerns that they would need more than five weeks to update loan disclosures and computer systems.
FHA previously raised up-front premiums from 1.75 percent to 2.25 percent in April to cope with rising losses on FHA-guaranteed loans. The Obama administration promised to reduce up-front premiums if Congress gave it the authority to raise annual premiums beyond their statutory limit of 0.55 percent. HR 5981, legislation raising the statutory limit on annual premiums to 1.55 percent, was approved by lawmakers on Aug. 4 and has been signed by President Obama.
For more information, click here.
Tax Credit Deadline Aug. 15
State first-time buyers tax credit deadline Aug. 15
The Franchise Tax Board (FTB) recently announced it will accept applications for the California first-time home buyer tax credit through midnight on Sunday, Aug. 15, 2010. The FTB believes it will have received more than enough applications to cover the $100 million allocated for eligible first-time home buyers. It will continue to accept applications for the new-home portion of the state tax credit.
Due to the high volume of faxes, consumers may experience some delays and difficulties in connecting to the FTB fax number during normal business hours. It can take several minutes or possibly up to an hour to connect and transmit the fax. Buyers who receive a busy signal are advised to try again later. The fax number is open 24 hours a day, so consumers may fax applications during non-business hours when the line is not as busy.
For more information, click here.
Declining Home Size
Home Size Continues to Decline; Buyers Increasingly Opt for Single-Story Homes
The size of new single-family homes completed declined last year, dropping to a nationwide average of 2,438 square feet, according to detailed information about the characteristics of new homes completed in 2009 that was released recently by the Census Bureau.
After increasing continually for nearly three decades, the average size of single-family homes completed in the United States peaked at 2,521 square feet in 2007. It was essentially flat in 2008, then dropped in 2009, so that new single-family homes were almost 100 square feet smaller in 2009 than in 2007.
“We also saw a decline in the size of new homes when the economy lapsed into recession in the early 1980s,” said NAHB Chief Economist David Crowe. “The decline of the early 1980s turned out to be temporary, but this time the decline is related to phenomena such as an increased share of first-time home buyers, a desire to keep energy costs down, smaller amounts of equity in existing homes to roll into the next home, tighter credit standards and less focus on the investment component of buying a home. Many of these tendencies are likely to persist and continue affecting the new home market for an extended period.”
Crowe also pointed out that the average square footage of new single-family homes completed is only one measure of new home size. “The Census Bureau also reports average square footage in a quarterly release based on starts rather than completions, which is sometimes useful when market conditions are changing rapidly,” he said.
In keeping with their slightly smaller size, new single-family homes completed in 2009 had fewer bedrooms than previously. After increasing for almost 20 years, the proportion of single-family homes with four bedrooms or more topped out at 39 percent in 2005; it was 34 percent last year. The proportion of single-family homes with three bedrooms increased from 49 percent to 53 percent between 2005 and 2009.
New single-family homes completed last year also had fewer bathrooms than previously. The proportion of homes with three or more bathrooms was 24 percent last year, a decline from the peak of 28 percent in both 2007 and 2008. The percentage of single-family homes with two bathrooms increased from 35 to 37 last year, and the percentage with 2½ bathrooms was at 31 percent for the third consecutive year. The proportion of single-family homes with 1 or 1½ bathrooms has been below 10 percent for more than a decade.
In 1973, the first year for which the Census Bureau reports characteristics of single-family homes completed, most new single-family homes – 67 percent – had only one story. Twenty-three percent had two or more stories, and 10 percent were split levels.
The proportion of one-story homes declined steadily for more than three decades, dropping to a low of 43 percent in 2006 and 2007. At the same time, the proportion of single-family homes with two or more stories increased, rising from 23 percent in 1973 to a high of 57 percent in 2006 (split level homes currently account for less than one percent of all single-family homes). Since 2006 the trends have been reversed, as the share of single-family homes with one-story increased to 47 percent last year, while the share with two or more stories dropped to 53 percent.
Regional Differences in Completed Single-Family Homes
The Census Bureau’s data on characteristics of completed single-family homes also showed regional differences.
In 1973, less than half of all new single-family homes completed had air conditioning; in 2009, 88 percent were air conditioned nationwide. Regionally, the proportion ranged from a low of 69 percent in the West to a high of 99 percent in the South. The Northeast and Midwest were at 75 percent and 90 percent, respectively.
Nationwide, 62 percent of new single-family homes completed in 2009 had two-car garages, and 17 percent had garages for three or more cars. However, there were clear regional differences. Three-car garages were found in only about 11 percent of homes in the Northeast and the South. In the Midwest, 30 percent of all homes had three-car garages, and in the West, 26 percent.
Regional differences were especially pronounced in the selection of exterior wall material. Nationwide, 34 percent of all single-family homes completed in 2009 homes had vinyl siding, 23 percent were brick, 19 percent were stucco, and 13 percent had fiber cement siding.
Vinyl siding predominates in the Northeast, where it accounted for 74 percent of the market; wood was a distant second with a 12 percent market share. In the Midwest, vinyl siding accounted for 62 percent of the market while wood and brick were at 15 percent and 11 percent, respectively.
Brick was the leader in the South, where it was found in 40 percent of new single-family homes. Twenty-eight percent of new homes in the South had vinyl siding and 13 percent had stucco.
The Census Bureau began reporting statistics on fiber cement siding, which is relatively new to the market, in 2005. It already accounts for 24 percent of the market in the West. Stucco and wood account for 52 percent and 15 percent of the market, respectively, in that region.
For more information, click here.
C.A.R. Member Benefits
MEMBER BENEFITS WEBINAR FOR REALTORS®
Learn more about your C.A.R. member benefits by participating in this webinar. This is your passport to growth, knowledge and professionalism within the real estate industry. We are committed to bringing you the very finest tools and information to help you succeed. The information allows you to access a variety of tools, services and products that your Association provides for your professional growth. We wish you the very best as a REALTOR®.
Title: Member Benefits
Date: Wednesday, July 14, 2010 https://www1.gotomeeting.com/register/335769768
Time: 9:30 AM – 10:30 AM PDT
Title: Member Benefits
Date: Wednesday, August 18, 2010 https://www1.gotomeeting.com/register/477550936
Time: 9:30 AM – 10:30 AM PDT
Prices Rise in May
California median home price, home sales rise in May
Home sales increased 1.2 percent in May in California compared with the same period a year ago, while the median price of an existing home rose 23.2 percent, reported C.A.R.
“Home sales posted their third largest increase on record for May, due in part to first-time home buyers who timed the open and close of escrow in order to capitalize on both the federal and state tax credits,” said C.A.R. President Steve Goddard. “May also marked the fifth month of double-digit gains in the median price, indicative of strong buyer demand relative to the supply of homes for sale. With a 4.6-month supply of homes for sale, unsold inventory continues to be well below the long-run average of seven months, and will continue to drive price appreciation over the next several months.”
The median price of an existing, single-family detached home in California during May 2010 was $324,430, a 23.2 percent increase from the revised $263,440 median for May 2009, C.A.R. reported. The May 2010 median price increased 5.9 percent compared with April’s $306,230 median price.
For more information, click here.
Risk Management Seminar
CONTRA COSTA ASSOCIATION OF REALTORS® PRESENTS
C.A.R. Update and Risk Management Legal Seminar
Wednesday, June 23, 2010
9am Check In & Refreshments
9:30am-12pm Program
Shadelands Civic Arts Center, 111 N. Wiget Lane, Walnut Creek
FREE to CCAR MEMBERS
Seating is Limited: Register today!
FEATURING
AN UPDATE FROM C.A.R. DIRECTORS
AND
SHANNON B. JONES
This leading East Bay real estate attorney will discuss issues affecting real estate professionals such as Disclosure issues, agent trouble areas, and fallout of the short sale market
Members register by 6/21/10
at ccartoday.com/1318
Non-members $30 advance payment. Non-members not paid in advance will be admitted if seats are available. Your name must be on the registration list to attend. For more information, contact Cherie Lilly at 925 295 9207 or cherie@ccartoday.com.
Homeownership Rate
Fed releases study on homeownership rate
The U.S. homeownership rate, currently down two percentage points from its 2006 peak of 69 percent, could decline by an additional five percentage points over the coming years to levels last seen in the mid-1990s, according to a report from the Federal Reserve Bank of New York.
The study looks at the number of underwater homeowners and excludes them from the official homeownership rate calculated quarterly by the Census Bureau. Based on the study, the actual rate of homeownership is 62 percent, rather than the 67.2 percent rate as reported by the Census Bureau.
Click here for more information.
HAFA Guidelines
GSEs release HAFA guidelines
Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac last week released guidelines for implementing the Treasury Dept.’s Home Affordable Foreclosure Alternatives Program (HAFA). The new guidelines apply to loans owned or guaranteed by the GSEs; servicers are required to implement the new policies no later than August 1.
While largely consistent with the HAFA guidelines for non-GSE mortgages, both Fannie and Freddie have implemented changes. To qualify for the Freddie Mac HAFA program, borrowers must be more than 60 days delinquent and have cash reserves of less than $5,000 or three times the current monthly mortgage payment, whichever is greater. Similar to the non-GSE HAFA program, Fannie Mae allows borrowers to qualify if they are at imminent risk of default. However, Fannie prohibits borrowers from participating in HAFA if the borrower: Has the ability to continue making mortgage payment, but chooses not to do so; has substantial encumbered assets of significant cash reserves equal to or exceeding three times the borrower’s total monthly mortgage payment or $5,000, whichever is greater; or has high surplus income.
Fannie and Freddie both allow the real estate commission in the listing agreement, but not more than 6 percent. Consistent with the non-GSE HAFA program, Fannie and Freddie guidelines do not permit subordinate lien holders to require contributions from the real estate agent or borrower as a condition for releasing its lien and releasing the borrower from personal liability.
Click here for more info on Fannie Mae guidelines
Click here for more info on Freddie Mac guidelines
LegDay is June 9, 2010
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 the most. Attending Legislative Day is not only a great investment in your business, it will also provide you with an opportunity to hear from the state’s most dynamic political leaders and the leadership of your state association, and enjoy a fabulous reception.
ACTIVITIES
Where: Sacramento, California
When: Wednesday, June 9, 2010
9-11am, Morning Briefing
Sacramento Convention Center
13th and J Streets
Assembly Speaker John Perez; Senator Dennis Hollingsworth; and Alex Creel, C.A.R. Senior Vice President of Government Affairs.
Noon, Individual Lunches and Legislator Meetings
Lunch will be provided for Region 5 and Region 6 REALTOR® Action Fund Investors with guest speaker Sunne McPeak, President and CEO of the California Emerging Technology Fund.
1:30-3pm, Meetings with you California Legislators
State Senator Mark DeSaulnier, Assembly Member Joan Buchanan, Assembly Member Tom Torlakson, Assembly Member Nancy Skinner
4:30-5:30pm Member Director Forum
Exhibit Hall E, Convention Center
This session is a fast-paced update on key industry issues and a preview of hot policy, legal and regulatory topicsthat the C.A.R. Directors will be considering during the Business Meetings.
5:30-7:30pm Capitol Reception
Sheraton Grand Hotel
In honor of C.A.R.’s valued political contributors and State VIPs, come mix and mingle with California’s power elite, at the Capitol Reception .
11am-4pm Spa Retreat
Hyatt Regency Pool Deck
The Sacramento Association of REALTORS® is hosting a Spa Retreat RAF Fundraiser Wednesday in conjunction with Legislative Day so you can drop when there is a break between legislative meetings, region lunches, and enjoy a chair massage, some snacks, and rest your feet.
Three spa packages are offered, and all money collected is counted to your total lifetime investment in the REALTOR® Action Fund. Tickets will also be sold for great contest prizes, including an Apple iPad, $300 Southwest Airlines Gift Card, and an Amazon Kindle with a $40 Amazon Gift Card. For more information about the Spa Retreat, please see http://spa.sacrealtor.org.
For more information about Legislative Day, click here.
SB 1178 Passes Senate!
SB 1178 Passes Senate!
Victory for REALTORS® and Their Clients!
SB 1178 was just approved by the Senate, over lender opposition, with a vote of 30 to 4.
Thank you to the over 5,000 REALTORS® who made a difference by contacting their senator to support the bill! For more information on the vote, see the list below.
C.A.R. is sponsoring SB 1178 (Corbett) to extend anti-deficiency protections to homeowners who have refinanced “purchase money” loans and are now facing foreclosure. Most homeowners didn’t even know that when they refinanced they lost their legal protections, and now may be personally liable for the difference between the value of the foreclosed property and the amount owed to the lender.
Here is how senators voted today.
“Yes” votes: Aanestad, Alquist, Ashburn, Cedillo, Cogdill, Corbett (author), Correa, DeSaulnier, Ducheny, Florez, Hancock, Hollingsworth, Huff, Kehoe, Leno, Liu, Lownenthal, Negrete McLeod, Oropeza, Padilla, Pavley, Price, Romero, Runner, Simitian, Steinberg, Wolk, Wright, Wyland and Yee.
“No” votes: Calderon, Denham, Strickland and Walters.
Not voting: Cox, Dutton, and Harman.
Absent (not in Sacramento that day due to health reasons): Wiggins.
Thank you to everyone who made a call to their senator. Facing lender opposition, many of those who ultimately voted for the bill, may not have done so if they hadn’t received so many calls from REALTORS®.
For more information contact DeAnn Kerr at deannk@car.org.
Legislative Day 2010
Don’t miss Legislative Day June 9, 2010.
Register today to attend this opportunity as a CCAR member.
WEDNESDAY, JUNE 9, 2010, SACRAMENTO, CALIFORNIA
9-11AM ● MORNING BRIEFING
Assembly Speaker John Perez; Senator Dennis Hollingsworth; and
Alex Creel, C.A.R. Senior Vice President of Governmental Affairs
NOON ● LUNCH
Free lunch will be provided for Region 5 and Region 6 REALTOR® Action Fund
Investors with guest speaker Sunne McPeak, President and CEO of the
California Emerging Technology Fund
1:30-3pm ● MEETINGS WITH YOUR CALIFORNIA LEGISLATORS
State Senator Mark DeSaulnier ● Assembly Member Joan Buchanan
Assembly Member Tom Torlakson ● Assembly Member Nancy Skinner
5:30-7:30pm ● CAPITOL RECEPTION
with elected officials and C.A.R. leadership
for $197 RAF Contributors
CARPOOLS
Gas stipend and parking will be paid for cars that have three or more passengers.
To RSVP, contact Chris D’Apice at 925 295 9203 or GovAffairs@ccartoday.com.
C.A.R. Ad Campaign
C.A.R. launches 2010 consumer ad campaign
C.A.R. today launched its 2010 Consumer Advertising Campaign, “California REALTORS® . Your Peace of Mind.” The campaign raises awareness of the REALTOR® brand and reinforces the professionalism of California REALTORS®, while addressing concerns home buyers and sellers may have about today’s market. The campaign’s theme, “Your Piece of California. Your Peace of Mind,” will be heard across the state nearly 130 million times via television, radio, and online.
The “Your Piece of California. Your Peace of Mind” consumer advertising campaign features an engaging television ad, radio spots, online components, and search engine marketing. The television ad will run on cable shows including “Sell This House,” “House Hunters,” “My First House,” and others. Another key component of the 2010 ad campaign is a new three-minute video that will air on all Virgin America flights in July and August.
CA REALTOR® Expo!
Early bird registration for CALIFORNIA REALTOR® EXPO 2010 ends June 11.
Register today for CALIFORNIA REALTOR® EXPO 2010, running Oct. 5-7 at the Anaheim Convention Center. This year’s EXPO will feature exhibit booths, cutting-edge seminars, and other special events. Don’t miss Tech Tuesday on Oct. 5, featuring a full day of technology training preceding CALIFORNIA REALTOR® EXPO 2010. Tech Tuesday is designed to help California REALTORS® stay abreast of the must-have tech gadgets on the market and, more importantly, how to use them.
Entrance to the exhibit hall on Oct. 5-7 and educational seminars on Wednesday and Thursday are free to all C.A.R. members, but you must register to receive an entrance badge. Fees apply to ticketed events, including Tech Tuesday, and special luncheon events. To register, click here or call toll-free 800 242 2732. Early bird rates expire June 11.
This year’s exciting program includes the following special ticketed events (fees may apply): Tech Tuesday Luncheon, Oct. 5, “Social Media: Here, Now, and Next Gen,” presented by Ed Dilworth; “2011 California Housing Market Forecast Luncheon,” Oct. 6, presented by C.A.R. Vice President and Chief Economist Leslie Appleton-Young; and EXPO Closing Luncheon, Oct. 7, “Tools for Change: A Practical Guide to Applying Life’s Lessons,” presented by Jeannette Walls, author of The Glass Castle. Also, new for 2010, there are two interactive Mobile Jolt! EXPO Workshops teaching REALTORS® how to use a Smartphone to better serve their business needs.
For more information, click here.
Signing C.A.R Forms Digitally
Available on May 19th, zipForm® 6 is offering REALTOR® members an alternative solution for signing C.A.R. forms digitally. zipLogix Digital Ink is available to purchase on an individual basis at $40/year and includes 10 digital signature credits. One credit is equivalent to one transaction in zipForm® 6. Each transaction has unlimited signatures and may be sent multiple times. For example, if I’m sending a Residential Purchase Contract to my buyer and then a few days later sending a Counter Offer, I’m still in the same transaction and no additional credits will be required.
Additional features include:
● Pre-tagged signatures for forms (no more drag and drop required for each signature/initial on every page)
● Optional signature and initial fields
● Text boxes for client completion
Members may purchase an account directly from their zipForm® 6 by clicking on the “Tools” tab, going to the “Options” menu and click the “E-Signature” tab. A credit card is required to complete the order.
zipLogix Digital Ink also offers a very competitive member benefit pricing solution. For more information on this feature contact Jenny Roberts at jennyr@car.org or Albert Tran at albertt@car.org.
C.A.R. Green Tip
C.A.R. Green Tip of the Week: Love that linoleum
If it’s time to change the break room floor, opt for linoleum instead of vinyl. Linoleum is made from all-natural resources, while vinyl is made from petroleum.
For more C.A.R. green tips, click here.
C.A.R. Agent JumpStart™
The CALIFORNIA ASSOCIATION OF REALTORS® and the Contra Costa Association of REALTORS® present
C.A.R. Agent JumpStart™ Program
Are You Prepared for Today’s Real Estate Market?
Learn Proven Methods for Success and Winning Tactics for Working with Buyers and Sellers!
C.A.R. Agent JumpStart™ is a 3-day course designed to familiarize new and returning real estate licensees with the fundamentals of representing buyers and sellers in California transactions. Each day covers a specific aspect of how to achieve business transactions in a productive and professional manner, while adhering to the standard of the CALIFORNIA ASSOCIATION OF REALTORS®.
Register today and get started on a successful future in real estate!
How you will benefit from taking this 3-day course:
Convert an incoming ad or sign call into an appointment.
Recognize the distinctions between salary versus commission income.
Learn the four qualifying questions to ask buyers and sellers.
Identify the parameters to establish a geographic prospecting farm.
Understand the legal documentation and contracts used in everyday transactions.
And so much more!
Space is limited! Reserve your seat now.
Dates
Tuesday, May 11, 2010
Wednesday, May 26, 2010
Wednesday, June 2, 2010
Time
8:30 a.m. to 4:30 p.m.
Location
Contra Costa Association of REALTORS®
1870 Olympic Blvd., Suite 200
Walnut Creek, CA 94596
Cost
$89 Member per class ($267 for all 3 classes)
$110 Non-Member per class ($330 for all 3 classes)
To Enroll
Please call (925) 295-9226
For more information about C.A.R.’s Face2Face programs, click here.
calREDD®, MRMLS merge
calREDD®, MRMLS announce intent to merge the two MLSs; new multiple listing service will serve more than 33,000 real estate professionals statewide
LOS ANGELES (April 28) – calREDD® and the Multi-Regional Multiple Listing Service Inc. (MRMLS) today announced their intent to merge the operations of the two organizations, creating one dynamic multiple listing service (MLS) provider serving more than 33,000 real estate professionals and 22 REALTOR® associations statewide. Both boards of directors have agreed to a framework within which to finalize an agreement that will be presented to their respective associations and boards of directors for final approval.
“This is a compelling development for both calREDD® and MRMLS and, more importantly, for our respective members and participating REALTOR® associations,” said MRMLS President Richard Stone. “We look forward to a beneficial relationship that builds on our past successes and will continue to deliver an innovative, state-of-the-art MLS system to our expanded membership.”
MRMLS approved the concept at its April 26 board of directors meeting, following a similar decision by the calREDD® board of directors at its April 22 meeting. The merger is expected to go to a vote of MRMLS’ 12 member associations at their May meeting and to C.A.R.’s board of directors at their June meeting.
“Serving the needs of our members has been the driving force behind the calREDD® initiative from the start,” said REALTOR® Mike Silvas, CALMLS chairman. “The merger of our two entities would be a positive step forward for our members, and opens up new opportunities to provide choice, efficiencies, and new technology opportunities to real estate professionals throughout the state.
“We expect the merger to be seamless, with calREDD® and MRMLS participants experiencing, few, if any changes or disruptions to service,” he said.
In other news, calREDD® announced that it has secured exclusive rights to its MLS software in California and has taken over ongoing development of its software system. This change has been seamless to system users and was made in cooperation with calREDD®’s former vendor, Concentric Software LLC.
The mission of Pomona, Calif.-based MRMLS is to deliver, through local member associations, the most affordable, reliable, and convenient listing technology service available, and to provide products and services that support REALTORS® in maximizing use of property data to achieve business goals. MRMLS Inc. is a member organization made up of 12 local associations of REALTORS® with a service area covering a large area in Southern California, and was one of the founders and integral forces behind the CARETS initiative.
calREDD® is a service of CALMLS, a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
For more information, click here.
C.A.R. Tip
C.A.R. Green Tip of the Week: Post Office recycles electronics
Next time you’re in the post office, ask the postal clerk for an envelope to recycle your cell phones, PDAs, MP3 players, ink jet cartridges, digital cameras, and small electronics. The post office provides this free service, and all you have to do is peel the label of this 6-inch by 5.5-inch envelope and drop in your mail box.
Discounts from T-Mobile
Special pricing and discounts from T-Mobile through June 30
T-Mobile, a C.A.R. Member Advantage Program partner, is offering special pricing on the new HTC HD2 Windows Mobile smartphone. This device features a 4.3-inch screen, 16 GB memory card, and 1 GHZ processor. New T-Mobile customers can purchase the HD2 for $149.99 and also receive a free Bluetooth headset.
California REALTORS® also qualify for discounts on the Blackberry® 9700, enabling users to connect to T-Mobile’s wireless network or any nearby Wi-Fi network.
Special pricing is available through June 30 and is not available in stores. To access these deals and for information on other offers available as a new T-Mobile customer, call 866 464 8662, enter option 3, and mention the code “C.A.R.”
All C.A.R. members receive 12 percent off their monthly recurring charges (select plans), free activation, and free shipping and handling. Current customers can complete an online migration form to access the monthly discount.
New Look on car.org
C.A.R. unveils new look, features, and functionality on car.org
car.org, the Association’s official Web site, now has a new look, features, and functionality. In addition to the drop-down menu navigation, font size and color changes for increased readability, and new color palette previously unveiled, additional highlights include:
Easy access to the Business Products mall (store.car.org) via a new shopping cart icon on every page. New “My Profile” button with custom profile specific links. New search button with preset search text to help clarify its function. New “Home” button to help users easily navigate back to the home page. A ‘One Cool Thing’ module highlighting a new cool service, product, or application each day. The addition of a ‘Stay Connected’ module on the home page featuring links to C.A.R.’s social networks, upcoming Webinars, current outreaches, and consumer-specific resources. An enhanced video module with a side-scrolling option enabling
visitors to browse through a selection of video clips without leaving the home page. Visit car.org today to view all of the site’s enhancements.
C.A.R. Health Plans
Open Enrollment for the C.A.R. Health Plans begun April 1 and goes through May 15, 2010 for coverage effective June 1, 2010.
Highlights of this Open Enrollment include:
- Guaranteed issue medical plans for all eligible C.A.R. members and their full-time W-2 employees. No medical questions!
- 12 HMO options: No pre-existing condition limitations!
- 4 PPO Options with Anthem Blue Cross
- MetLife Vision: No deductible and 100% benefits!
For quotes and more information call 800 939 8088 Ext. 202 or visit www.RealCare.biz.
C.A.R. President
April 13, 2010
Dear C.A.R. Member:
Perception often equals reality for today’s image-driven, media-conscious consumers. While conventional wisdom might deem it prudent to cut costs across the board during a business downturn, that philosophy doesn’t apply when it comes to marketing and advertising. Industry studies have confirmed that a long-term strategy for building a brand, burnishing an image, and capturing market share is to maintain, or even increase, marketing expenditures during a downturn. Proactively promoting our professionalism as REALTORS®, and as an industry, are no exceptions. That’s one reason C.A.R. has consistently reached out to consumers regardless of the temperature of the real estate market through our Consumer Advertising Campaign. This year’s “Your Piece of California. Your Peace of Mind” Consumer Advertising Campaign launches next week, featuring television, radio, and online components, reinforcing the value of working with a REALTOR® and helping consumers understand why now may be the best time in years to buy a home. Be on the lookout for an e-mail next week with complete information on the campaign; for a sneak peek, click here.
The April 15 federal income tax filing deadline is days away, and the IRS has said it will step up audits of independent contractor status and expand its audits of small businesses during 2010. It’s a timely reminder to broker/owners to make sure they have their business and tax records in order. Those who are lax in their record keeping, such as written independent contractor agreements, may incur significant penalties. You can help ensure that your buyers are aware of the April 30 deadline for closings and contracts in order to qualify for the federal Extended Home Buyer Tax Credit. To qualify for the credit, they must close on their home purchase by April 30, 2010, or have a binding written contract by April 30, 2010, and close by July 1, 2010. To help understand the state’s home buyer tax credit recently signed into law by Governor Schwarzenegger — legislation which C.A.R. supported since its inception — there is an informative chart here, compiled by C.A.R.’s legal team that lays out the rules and requirements for both the state and federal tax credits. It’s an easy way for you to present a side-by-side comparison to your clients. Research has demonstrated that the availability of the federal tax credit played a significant role in consumers’ decisions to buy a home this year, so the state home buyer tax credit will no doubt spur a similar response.
There’s more good news on the tax front: Governor Schwarzenegger yesterday signed SB 401 (Wolk), a measure providing tax relief on mortgage debt forgiven in a short sale, foreclosure, or loan modification. Previously, California homeowners generally were exempt from owing federal taxes on the forgiven mortgage debt, but still were required to pay California taxes on the so-called “phantom income.” This bill now aligns the state’s tax code with that of the federal government and has become law in time for people to take advantage of it by the April 15 deadline for filing tax returns. C.A.R. has prepared a Realegal® detailing what you need to know about the new law, you can access it here.
With healthcare reform in the news and its ultimate impact uncertain, it’s good to know that open enrollment for group medical and vision coverage through C.A.R. is available through May 15 for coverage effective June 1. C.A.R. offers five plans through Anthem Blue Cross and 11 plans through Kaiser Permanente. For more information, call RealCare at 800 939 8088 ext. 202, or click here. If you’re located in the Inland Empire, or Los Angeles or San Diego counties, you may call RealCare at 800 588 8628 or click here.
REALTORS ® have a long-standing tradition of community involvement, and are generous first responders when disaster strikes one of our own. This is especially timely given the recent temblors that struck Mexico and parts of Southern California last week. To help members of the REALTOR® family — REALTORS®, their staff, and association members and their staff — affected by natural and other disasters, C.A.R. established the C.A.R. Disaster Relief Fund in the wake of the devastating 2003 California wildfires. Today, C.A.R. continues to reach out to those affected by natural and other disasters by distributing grants of $1,000 to $10,000 from the fund. If you’d like more information on the fund, or want to make a tax-deductible donation, click here.
Sincerely,
Steve Goddard 2010 President CALIFORNIA ASSOCIATION OF REALTORS®
