New Year – New Market?
  

We are in a period of great turmoil in the real estate industry, but this will pass. The key to our long-term success as an Association and as individual members is to be united in our efforts to weather this storm. We must do so on several fronts. The implications of the government bailout on financing, interest rates, risk premiums, liquidity, and much more will all require our close attention. We are presented with a unique opportunity to be involved with redefining the home-buying process in this country. This is an exciting and difficult challenge.

Here are several ways that we can meet this challenge. We must be proactive and have a voice as we literally reshape home financing in our industry. Ensuring that Fannie Mae and Freddie Mac can fulfill their role in providing affordable financing to consumers is a priority. We will work closely with the NATIONAL ASSOCIATION OF REALTORS® to ensure our initiatives succeed.

As the details unfold about how the bailout programs will work—and if they will work—that’s where we will certainly find the devil! There will be more than one devil in those details, and we must be at the table and have a voice to protect our industry and our members.

As counties and cities throughout California search for money, we will become a target. Each of us—including you—can play a role in protecting your right to conduct your business as you see fit by simply contributing to our REALTOR® Action Fund. Our governmental affairs staff is poised to take on the issues we shall face, but our true strength lies in our members, our grass-roots efforts, and our ability to influence our legislators.

The issues and challenges will be many and difficult. With that difficulty comes great opportunity. If there was ever a time to “get into politics, or get out of business,” that time is at hand. We need you, the member, now more than ever, and it is my opinion that you, the member, need the CALIFORNIA ASSOCIATION OF REALTORS® now more than ever.

Together, we will survive and succeed in this time of turmoil. I have faith in our collective strength, and will do my best to represent you and our Association.

James Liptak