Legal Update There are lots of misconceptions out there about the new buyer representation forms and especially a new provision that was added to the RPA in December 2022. This article attempts to correct some of those common misconceptions. Misconception # 1. Buyer representation agreements are required by law starting with the December 2022 release of new C.A.R. forms.FALSE. Buyer representation agreements are good risk management but are not legally required. Misconception # 2. New paragraph 3G(3) in the December 2022 RPA which asks the seller to pay a commission to the buyer’s broker is mandatory.FALSE. Paragraph 3G(3) is optional. If the box is not checked, it will not be part of the agreement. Furthermore, it is important to understand that the buyer can make this request only if two conditions are met: First, the buyer must have already entered into a written agreement to pay their own broker (Form...
Building an ADU comes with complications, according to the L.A. Times. Among other things, property taxes will go up substantially, and the city’s rent control laws may apply to the new ADU as well as the existing single-family home on the property. Mona Field, who built an ADU next to her Eagle Rock home, said dealing with the city can be challenging. “It took me hours to figure out what they are talking about, why I owe them money, and how to respond to their paperwork.” Read More…
Financing the Dream of Homeownership DEC 14 @ 10 AM | Register Today! The STEPS Toward Homeownership program has been cut down into digestible sections providing resources for REALTORS® to educate renters, prospective first-time homebuyers, clients who have had a prior foreclosure or short sale, and Baby Boomers interested in helping their children or grandchildren become responsible homeowners. Experts will share philosophies on: Strategies for Financial Health Trends in the Economic Environment Engaging in the Process Products for Success Support from Beginning to End What’s in it for me? Attendees will acquire financial literacy knowledge and strategies to bolster their referral pipelines in the local community and help prospective buyers with financing expectations, down payment assistance options, and FHA vs. conventional loan programs. In addition, we have focused on the REALTOR® view as well, to give a reasonable understanding of how to stay involved, without taking on additional roles.
A handy guide containing every page of every real estate form from C.A.R., including the new/renamed forms and the recently revised forms from January to July 2022. Quite possibly the most important book in real estate! This book contains a current sample of EVERY Standard Form from C.A.R. in an easy-to-reference format. The forms have been grouped together by category and then listed alphabetically leading with the Purchase Agreements. Sample Forms Book
How was a building nearly 60 feet tall approved in a neighborhood where few structures are even three stories high? Because it’s near a Metro subway station. These are known as Transit Oriented Community projects or TOC. Buildings can be taller, denser, and have less parking and open space than usual. Thousands of apartments have been built this way across the city. And more are on the way. TOC projects must be within half a mile of a train station or the intersection of at least bus routes. Affordable housing must be included. Generally, the closer a project is to a transit hub, the bigger it can get. Learn More View Interactive Map
Prepare for wildfire and harden your home. Defensible space, coupled with home hardening, is essential to improve your home’s chance of surviving a wildfire. Defensible Space Zones (Zones 1 and 2) currently make up the 100 feet of defensible space required by law. A new Zone was introduced in Assembly Bill 3074 in 2020. This new law requires a third zone (Zone 0) to be defined and made part of the defensible space. It now requires the Board of Forestry and Fire Protection to develop the regulation by January 1, 2023. The board is to create a new ember-resistant zone (Zone 0) within 0 to 5 feet of a home. Here are resources to prepare, learn, and share with existing or new home buyers. L.A. County Fire Department Defensible Space (CA.gov) Prepare For Wildfires Be aware of the ways to begin retrofits to your home Quick Guide Sheet Legal Q&A...
There are many different types of house architectural styles, like Cape Cod, Tudor, and Victorian. This architectural style guide will teach you the structural elements that give a home character, history, and romance. ARCHES FlatGothicMoorishRomanSegmentalTudor MOULDINGS CavettoCyma RectaCyma ReversaHoodLabelOvoloScotia COLUMNS CorinthianDoricEgyptianIonicRomanesque ROOFS Cross GableFront GabledGambrelHippedMansardPavilion HippedSaltboxSide Gabled DORMERS EyebrowGableHippedInsetShed WINDOWS BayBowBox BayCasementDouble-hungOrielPairedPalladianRibbon Check Out All The Details in This NAR Magazine Guide
Gain insights into California’s housing market through interactive dashboards. Select your metrics and see where the data takes you. Watch a video tutorial to learn more about how to best use and interpret C.A.R.’S market interactive dashboard reports. View Interactive Dashboards Here is a list of C.A.R.’s Interactive Reports: Housing Market Overview The Housing Market Overview reports are meant to provide our REALTOR® members and their clients with a current market snapshot of their local area of business or any other County and City in the state of California. Housing Market Overview YTD The Housing Market Overview YTD reports are meant to provide our REALTOR® members and their clients with a year-to-date comparative market snapshot of their local area of business or any other County and City in the state of California. Home Buyer’s Guide The Home Buyer’s Guide reports are meant to provide our REALTOR® members and their clients...Continue reading
Starting out as a new real estate agent can be overwhelming. You’re bombarded with emails and phone calls to sign up for this and purchase that. It can be difficult to decipher and filter out what you really need. That’s where RPR (Realtors Property Resource®) comes in. RPR is a digital, property record platform. But really, it’s so much more than that! It’s tools, data and property reports. It’s CMAs, prospecting and listing presentations. It’s current market data, plus neighborhood and school information. Simply put, it’s everything you need to “wow” your clients and close more deals. And here’s the real kicker… it won’t cost you anything to use it. RPR is an NAR Member Benefit, which means as a REALTOR® you have complete access to it. Learn More…
A new study of 1,000 active-duty service members and veterans by the Navy Federal Credit Union found that nearly all respondents were aware of what a VA loan is, but many respondents did show some confusion about their use. The National Association of REALTORS® and the Department of Veterans Affairs launched a joint video series Thursday for REALTORS® to help more veterans and active-duty buyers purchase a home using VA loans. The two-part series aims to dispel misconceptions about the VA Home Loan Guaranty Program and guide REALTORS® and homebuyers through the process. Learn More…
The National Association of REALTORS® invites you to participate in the 2022 International Residential Real Estate Business Survey. This survey gathers information about the size and characteristics of transactions with international clients. NAR asks that you take this survey even if you do not work with international clients so we can measure international transactions relative to the total real estate market which our members serve. NAR asks that you take this survey even if you do not work with international clients For many REALTORS®, international clients bring additional purchasing power to the residential and commercial real estate markets. This survey asks about your international transactions from April 2021 to March 2022 and the information will be important for assessing the role of foreign buyers before and during the coronavirus outbreak. TAKE THE NAR SURVEY At the end of the survey, you’ll have a chance to enter a drawingfor one of...
Stephen Beard of Keller Williams Advisors in Oakland, Calif is an accessibility specialist and disability advocate in the Bay Area. Last year, he launched his podcast, “Accessible Housing Matters.” Each weekly episode features disability advocates and influencers who are passionate about inclusion and improving housing accessibility. Listen in on Accessible Housing Matters… Episode 4: Fair Housing: Who’s Being Left Out of the Conversation?
Here, in this L.A. Times article, you will find many helpful resources: Fire Safety Making Homes Fire ResistantReducing Risks Near Your HomeTaking Community-wide ActionProtection From Wildfire SmokeWhere To Find Help This Article Can Help You Save On Insurance
On December 31st, older Supra eKEY apps will no longer function. To ensure you maintain access to Supra Lockboxes, please update to the most recent version of the eKEY app as soon as possible. The latest version of the eKEY app requires your device to use one of the following operating systems: Apple iOS 12 or later. (Not sure which version you have? See Apple’s guide.) Android OS 8 or later. (Not sure which version you have? See Google’s guide.) Although most devices in use today can run the latest version of the eKEY app, there may be some older devices that may not be able to update to this version. This means that a very small percentage of people may need to upgrade to a newer device. If you know you use an older device, or are not sure, please check out Supra’s guide to device and software requirements....Continue reading
Beginning Wednesday, Dec. 15, by order of the California Department of Public Health, masks are required to be worn in all indoor public settings, regardless of vaccine status. The key requirements of the statewide order are: Masks are required at open houses and showings regardless of vaccination status The order will be in effect statewide beginning December 15, 2021, through January 15, 2022, at which time it may be extended Local cities/counties may continue to have stricter mask requirements In workplaces, employers remain subject to the Cal/OSHA COVID-19 Emergency Temporary Standards (ETS) but clients are required to wear masks if visiting any real estate brokerage open to the public This order supersedes all prior face covering guidance
There were plenty of reasons that the proposed creation of a rental registry was bad news for Glendale, the third largest city in Los Angeles County. It was not only unnecessary, it was going to be costly, cumbersome, and, most alarming, it would expose personal data to public scrutiny. The Glendale Association of REALTORS® understood all the complexities of the threat, and why it was so important that the measure be defeated. Using multiple resources from the REALTOR® Party, they were able to ensure that it was. Read Full Article
Defensible space is the “buffer zone” that homeowners create between a structure on the property and any flammable grass, trees, shrubs, or wildland area that surround it. There are state and local laws that require certain property owners to maintain defensible space on their property. Read The C.A.R. Quick Guide
This is a BIG Deal for First-Time Home Buyers! Fannie Mae Will be adding the history of rent payment for the 1st time buyer to its DU (Desktop Underwriter). ““Positive rent payment history” refers to a new feature, effective Sept. 18, which will allow DU to use verification of asset (VOA) reports (i.e., bank statement data) to identify recurring rent payments to potentially enhance DU’s credit assessment of prospective, first-time home buyers.” See Release Notes View the Positive Rent Payment History Facts
NAR President, Charlie Oppler discusses challenging issues that ultimately affect all REALTORS®. Mr. Oppler sets the record straight on misconceptions by some about the real estate industry. Commissions for real estate agents and brokers are negotiable. Always have been. Always will be. Let’s put that on the table right now.Charlie Oppler, NAR President Watch The Interview Read President Oppler’s Op-Ed
‘California Dreamin’ is alive and well right now if you’re selling your home. In 2020, home sellers typically pocketed a net cash gain of $210,000 from the sale of their homes. That’s a 63.8% increase from the purchase price! Thanks to PROP 19, seniors, retirees, all homeowners aged 55+, Homeowners with severe disabilities, and victims of natural Disasters can move closer to family, medical care, or to a home that better meets their needs anywhere in California without a tax penalty. PDF Flyer Flyer with Music
Workforce housing properties were acquired by the cities of Glendale and Pasadena from the issuance of more than $481.5 million in tax-exempt Essential Housing Revenue Bonds through the California Statewide Communities Development Authority’s (CSCDA) new Workforce Housing Program. The projects will be converted to rent-restricted units for low and middle-income tenants. Read Full Article…
After years of debate, the Los Angeles City Council on Wednesday, June 23, 2021, passed an ordinance giving renters new protections from landlords who harass them. The ordinance lists a number of actions that could constitute harassment, including: Reducing the services outlined in a tenant’s lease (for example, taking away a parking space) Failing to perform necessary repairs Unlawfully entering a tenant’s unit Threatening physical harm Refusing to accept payment of rent Asking tenants to disclose their immigration status or threatening to report them to authorities Other repeated acts that “substantially interfere with or disturb the comfort, repose, peace or quiet of a tenant” Tenants will be able to sue landlords for violating any of the provisions in the ordinance. Read Article To Learn More About Landlord / Tenant Rights Here are other resources mentioned in the aforementioned article. Alliance of Californians for Community Empowerment. Housing Rights Center
Buying a first home is likely the biggest financial decision a person will ever make. Here is a tool to help you educate yourself as deeply as possible before taking that momentous step. Getting Started
Read the County Assessor’s Office memo on the subject of ‘Assessor 101 – Basic Facts Property Owners Should Know’ Read Article
May 26, 2021 Hundreds of bills failed to advance last week during a rapid-fire appropriations process known as the suspense file. The suspense file process was introduced in the Legislature in the 1980s to promote fiscal responsibility by evaluating the costs and comparing bills before they reach the Assembly or Senate floor. Unexpectedly, the day before the committee hearings last Thursday, President pro-Tempore Toni Atkins and Assembly Speaker Anthony Rendon announced a new limit of 12 bills per legislator, ensuring the death of hundreds of bills. Atkins reasoned that rules requiring “increased access for people to phone in public comment” made the cap necessary. Of the 16 priority bills highlighted during the League of California Cities Legislative Action Days, 12 were placed on the appropriations committee suspense files and during those hearings, five bills had favorable outcomes for California cities. Check Out Some of The BillsAt THE...
Last year, in response to the COVID-19 pandemic, Governor Gavin Newsom issued four executive orders that extended deadlines for certain DRE licensees and pending applicants. The most recent order, N-83-20, extended some fee payment and license requirement deadlines until June 30, 2021. That deadline is quickly approaching! The Department of Real Estate (DRE) is urging licensees and examinees in the following four groups to take action now to beat the upcoming deadline: Those whose DRE four-year license expired between April 16, 2020 and June 29, 2021 Those whose DRE license “late” renewal rights expired on or after April 16, 2020 Those who applied for a license exam and are in the two-year window to schedule an exam Those who have passed their exam, but have not applied for their license Read DRE’s Full Advisory Revei | 800-582-7979 | Buy Now C.A.R. Members: FREE 45-Hour Package!
Tweeting 101. Here is a great video that came out of C.A.R.’s Legislative Day that would serve us all well!
It’s that time of the year again! BizFed has partnered with our 214 business organizations, Chambers of Commerce, Trade Organizations, and Non-Profits to survey the business community to find out what are the top areas of concern as our economy reopens. Your unique insight will guide our advocacy over the next 12 months. Help Provide Powerful Insight to Shape the Future of Business in LA County! Take the Survey Today! Importance of Taking the Survey! As a follow up to last years COVID-19 Business Impact and Reopening Survey and the Annual Pulse Poll, BizFed has combined the two polls to best understand what are the top 5 areas of concern for the business community, and most importantly, what have we learned over the past year during the pandemic. Last year we found that 50% of businesses lost over half of their projected income for the year in the first few...
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If you are a landlord who has one or more eligible renters, you can apply to get reimbursed for 80% of each eligible renter’s unpaid rent between April 1, 2020, and March 31, 2021. You are required to agree to waive the remaining 20% of unpaid rent for that specific time period. Learn about the requirements and what you need readily available before applying. Take the Landlord Eligibility Quiz About BCSH
Spread the word about NAR’s reality series First-Time Buyer, which showcases how REALTORS® guide clients through the home buying process and makes their goals achievable. Watch the show, then spread the word to your clients! Watch Series
C.A.R. partnered with ABC to be the presenting sponsor of their new documentary called “California Dreaming” airing on 2/6 and 2/13 at 9:00 p.m. on KABC-TV, Los Angeles, KGO-TV, San Francisco, and KFSN-TV, Fresno. The documentary explores the “state of the state”, pointing to the significant challenges associated with wildfires, extreme weather, earthquakes and the rising cost of living, whilst also covering all that is good about living and working in California. C.A.R. President Dave Walsh introduces the documentary, closes out the film, and is also featured within the program. In addition, our partnership includes the following: Custom C.A.R.:30 spots to air directly after the show 3-5-minute news features each day leading up to the airing Heavy promotion across channel + station websites Access to content/usage post airing Spot bank for usage during Spring flight Learn More About California Dreaming,The Future of the Golden State In case you happen to...Continue reading
Find yourself in traffic? Find yourself waiting on clients and service calls? Why not use that time to listen in on industry topics. Here is one podcast source as posted on Real Trends. Take A Listen See links to many other industry-related podcasters.
The brokerage cooperative that has served real estate for more than 100 years has never faced more pressure. The path forward is affirmative transparency. It’s 2021. If you operate an MLS organization, or if you’re a REALTOR® who’s involved in oversight of your MLS, there’s never been a more complex time to make decisions about the MLS’s future. In a five-part series on MLS planning for 2021, we look at questions that all MLSs should be discussing as the year unfolds. The Marketplace MLS Mandate
“My parents were active in the industry as part of the Kansas City Regional Association of REALTORS®, Kansas Association of REALTORS® and the National Association of REALTORS®. I saw the joy they took from this involvement and learned from them that the benefits far outweighed the time commitments. Little did I know, I would follow in their footsteps.” Read More This article was reprinted with permission of REAL Trends Copyright 2021