The U.S. Senate has passed H.R. 3700, the "Housing Opportunity Through Modernization Act," by unanimous consent. This legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and is long supported by both the CALIFORNIA ASSOCIATION OF REALTORS® and NATIONAL ASSOCIATION OF REALTORS®. Changes include efforts to make FHA's recertification process "substantially less burdensome," while lowering FHA's current owner-occupancy requirement from 50 percent to 35 percent. The bill also requires FHA to replace existing policy on transfer fees with the less-restrictive model already in place at the Federal Housing Finance Agency.
C.A.R. would like to thank the 19,000-plus California REALTORS® who responded to NAR's Call-for-Action and urged their senators to pass this legislation and offer relief to home buyers. What makes REALTORS® so strong politically is the number of constituents we have in every congressional district. Even if your business model is not based on condominium or Rural Housing Service transactions, all REALTORS® need to band together to support homebuyers to help ensure future transactions, and that is what California REALTORS® did with H.R. 3700.
Sign up to be a Legislative Liaison! Join the Government Affairs Team Today! Enroll in the Legislative Liaison and you will get regular update about the issues in Sacramento and Washington that may affect your business and the industry. Get the details.
REALTOR® Broker Involvement Protect your business by joining the 6,000 brokers who have already become a part of C.A.R.'s Broker Involvement Program. It's free and it's simple! Click here for more information on Broker Involvement.
REALTOR®s getting out to Vote Did you know there are more than 36,000 REALTOR® members in our state not registered to vote. Getting involved is key to protecting the issues important to the industry. Check the Voter Registrationpage often for upcoming election events and dates.
C.A.R.'s Field Rep Program: Field representatives are available to visit to local associations and help promote member political involvement, as well as assist in developing a local strategy to increase member participation in local government issues and increase REALTOR® Action Fund fundraising. Through these visits, field representatives promote overall member involvement in C.A.R.’s political programs by encouraging members to register to vote and vote in every election, become a Legislative Liaison, respond to Red Alerts and contribute to the REALTOR® Action Fund. Find out more.
How to Respond to Red Alerts and Calls for Action On occasion, C.A.R. asks REALTORS® to call their legislators to support or oppose proposed bills through Red Alerts and Calls for Action. However, some members may be a bit reluctant to pick up the phone to call their legislator’s office, fearing that they may not know what to say or that the process takes a long time. C.A.R. has produced a short video to show how easy it is to respond to Red Alerts and Calls for Action by making a quick phone call. See the video below:
Social media is also a great way to broadcast a red alert. For those of you who are a little Twitter shy, here is a quick "how to".