C.A.R. Legislative Day – Update

Each year in the spring we join the California Association of REALTORS® and members from all over the state and converge upon Sacramento for Legislative Day. This year we met with our State Legislators in Sacramento and shared in other fantastic activities during our visit. 

Members of the Glendale Association of REALTORS® descended on Sacramento in the first week of May to meet with our state legislators and underscore the importance of homeownership in our communities. Each year, the California Association of REALTORS® hosts “Legislative Day” when more than 2,000 REALTORS® from all over California converge on our state capitol to talk about the issues important to our industry.

This year, we were promoting the early success of the California Dream For All Shared Equity Program which offers loans to first-time home buyers. In 2022 the Legislature passed a budget that included $500 million for California Dream for All. After the borrower has sold the home, they repay to the state the original down payment loan and part of the home’s appreciation.

The California Dream for All program ran out of funds LESS THAN TWO WEEKS after the state began accepting applications, demonstrating a huge demand and need for the program. The State Department of Finance has since withheld the remaining $200 million of the funding allocated in the state budget, so we are asking the Legislature to release those funds for future homebuyers.

This is just on of many activities that took place in Sacramento. Legislative Day is one of the highlights of the year for California REALTORS® because it is important to nurture and uphold the relationship and communication between our elected leaders and REALTORS® who are actively living and working in the communities they represent.