Hollingsworth’s Emergency Services Bill Signed

Posted on July 26, 2007 by admin

<table cellspacing="0" cellpadding="0" width="625" align="center" border="0"><tbody><tr><td height="10"><center>Hollingsworth's Emergency Services Bill Signed</center> For Immediate Release: 7/26/2007SACRAMENTO —- Senator Dennis Hollingsworth (R-Murrieta) announced today the signing of his legislation to reauthorize the Disaster Response Emergency Operations Account. Governor Schwarzenegger signed the bill, SB 548, after the account had expired from state law on July 1, 2007.The Disaster Response Emergency Operations Account is administered by the Governor’s Office of Emergency Services. The state uses funds in the account to provide relief to local governments and individuals who are affected by disasters like the freeze that occurred in January 2007 or the Angora Fire that occurred near Lake Tahoe last month.The signing of the bill marked the end of a near month long period where the account was not effective. This meant that the state temporarily lacked statutory authority to fund disaster-related emergency services.“Without this account, the state would be unable to provide critical financial assistance in a timely manner after a disaster,” Hollingsworth said. “California is lucky that the Angora Fire did not happen during the period the account was inoperable.” SB 548 passed the Legislature unanimously. As an urgency bill, it became effective immediately after the Governor signed it.Contact: Gerrit Buddingh @ (916) 651-4036# # #</td></tr><tr><td height="10"></td></tr><tr><td valign="middle" align="center" background="http://republican.sen.ca.gov/graphics/exec05/exec05_gradient_blue.jpg" height="20">CONTACT</td></tr><tr><td valign="top" height="5"><table cellspacing="0" cellpadding="3" width="100%" align="center" border="0"><tbody><tr align="center"><td nowrap="true" colspan="3" height="10"></td></tr><tr align="center"><td nowrap="true" colspan="3" height="10">EMAIL: <a title="mailto:Senator.Hollingsworth@sen.ca.gov" href="mailto:Senator.Hollingsworth@sen.ca.gov">Senator.Hollingsworth@sen.ca.gov</a></td></tr><tr align="center"><td nowrap="true" width="33%" height="10"></td><td nowrap="true" width="33%" height="10"></td><td nowrap="true" width="33%" height="10"></td></tr><tr align="center"><td nowrap="true" width="33%" height="10">Capitol Office:</td><td nowrap="true" width="33%" height="10">Temecula Office: </td><td nowrap="true" width="33%" height="10">El Cajon Office:</td></tr><tr align="center"><td nowrap="true" width="33%" height="10">State Capitol, Room 5064</td><td nowrap="true" width="33%" height="10">27555 Ynez Road, #204</td><td nowrap="true" width="33%" height="10">1870 Cordell Court, #107 </td></tr><tr align="center"><td nowrap="true" width="33%" height="10">Sacramento, CA 95814</td><td nowrap="true" width="33%" height="10">Temecula, CA 92591</td><td nowrap="true" width="33%" height="10">El Cajon, CA 92020 </td></tr><tr align="center"><td nowrap="true" width="33%" height="10">Phone: (916) 651-4036</td><td nowrap="true" width="33%" height="10">Phone: (951) 676-1020</td><td nowrap="true" width="33%" height="10">Phone: (619) 596-3136</td></tr><tr align="center"><td nowrap="true" width="33%" height="10">Fax: (916) 447-9008 </td><td nowrap="true" width="33%" height="10">Fax: (951) 676-1030 </td><td nowrap="true" width="33%" height="10">Fax: (619) 596-3140</td></tr><tr align="center"><td nowrap="true" width="33%" height="10"></td><td nowrap="true" width="33%" height="10"></td><td nowrap="true" width="33%" height="10"></td></tr></tbody></table></td></tr><tr><td valign="middle" align="center" background="http://republican.sen.ca.gov/graphics/exec05/exec05_gradient_blue.jpg" height="20"><a title="http://republican.sen.ca.gov/web/36/default.asp" href="http://republican.sen.ca.gov/web/36/default.asp">Hollingsworth Home Page</a> – <a title="http://republican.sen.ca.gov/" href="http://republican.sen.ca.gov/">Senate Republican Caucus</a></td></tr></tbody></table>

New Legal Article from CAR

Posted on July 26, 2007 by admin

Member Legal Services has published a new legal article, <a title="http://www.car.org/index.php?id=MTI4OQ==" href="http://www.car.org/index.php?id=MTI4OQ==">Avoiding Probate: Small Estates</a> (July 23, 2007). It is available on Legal's <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng== 
http://www.car.org/index.php?id=Ng==" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng==" target="_blank">What's New</a> and the <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz 
http://www.car.org/index.php?id=NTgz" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz" target="_blank">Legal Articles</a> pages on C.A.R. Online. This legal article details the non-probate procedures for transferring title in personal and real property when a decedent's estate is valued at $100,000 or less. Included are links to the Judicial Council forms as well as the DMV form (for transferring title in automobiles and vessels).

Governor Signs Hollingsworth LAFCO Bill

Posted on July 26, 2007 by admin

<table cellspacing="0" cellpadding="0" width="625" align="center" border="0"><tbody><tr><td height="10"><center>Governor Signs Hollingsworth LAFCO Bill</center> For Immediate Release: 7/20/2007SACRAMENTO —- Governor Schwarzenegger today signed SB 819, a bill authored by Senator Dennis Hollingsworth (R-Murrieta) that provides Local Agency Formation Commissions (LAFCOs) with greater authority to foster effective and efficient local services. LAFCOs are charged with reviewing proposals for both the formation of new cities and special districts and changes to the organization of existing cities and special districts. SB 819 specifically allows LAFCOs to approve the consolidation of special districts not formed under the same principle act. In certain situations, consolidation is the most viable alternative for local districts that are struggling financially or operationally to provide efficient services to the public. SB 819 significantly expands the number of districts that have the option to consolidate, should the need arise.The bill also gives LAFCOs the authority to initiate a proposal for the formation of new special districts after a consolidation. Previously, LAFCOs were not able to initiate these proposals, meaning that the proposal needed to come from one of the consolidating district. SB 819 removes this extra step, which added time, cost, and uncertainty to the processSenator Hollingsworth said the bill “will eliminate some of the red tape that prevents local agencies from providing better services to the public.”SB 819 passed through the Legislature unanimously with the support of the California Association of Local Agency Formation Commissions, the California Special Districts Association, and the Association of California Water Agencies.Contact: Gerrit Buddingh @ (916) 651-4036# # #</td></tr><tr><td height="10"></td></tr><tr><td valign="middle" align="center" background="http://republican.sen.ca.gov/graphics/exec05/exec05_gradient_blue.jpg" height="20">CONTACT</td></tr><tr><td valign="top" height="5"><table cellspacing="0" cellpadding="3" width="100%" align="center" border="0"><tbody><tr align="center"><td nowrap="true" colspan="3" height="10"></td></tr><tr align="center"><td nowrap="true" colspan="3" height="10">EMAIL: <a title="mailto:Senator.Hollingsworth@sen.ca.gov" href="mailto:Senator.Hollingsworth@sen.ca.gov">Senator.Hollingsworth@sen.ca.gov</a></td></tr><tr align="center"><td nowrap="true" width="33%" height="10"></td><td nowrap="true" width="33%" height="10"></td><td nowrap="true" width="33%" height="10"></td></tr><tr align="center"><td nowrap="true" width="33%" height="10">Capitol Office:</td><td nowrap="true" width="33%" height="10">Temecula Office: </td><td nowrap="true" width="33%" height="10">El Cajon Office:</td></tr><tr align="center"><td nowrap="true" width="33%" height="10">State Capitol, Room 5064</td><td nowrap="true" width="33%" height="10">27555 Ynez Road, #204</td><td nowrap="true" width="33%" height="10">1870 Cordell Court, #107 </td></tr><tr align="center"><td nowrap="true" width="33%" height="10">Sacramento, CA 95814</td><td nowrap="true" width="33%" height="10">Temecula, CA 92591</td><td nowrap="true" width="33%" height="10">El Cajon, CA 92020 </td></tr><tr align="center"><td nowrap="true" width="33%" height="10">Phone: (916) 651-4036</td><td nowrap="true" width="33%" height="10">Phone: (951) 676-1020</td><td nowrap="true" width="33%" height="10">Phone: (619) 596-3136</td></tr></tbody></table></td></tr></tbody></table>

News from C.A.R.

Posted on July 26, 2007 by admin

.A.R. REPORTS HOME SALES DECLINE 24.7 PERCENT IN JUNEHome sales decreased 24.7 percent in June in California compared with the same period a year ago, while the median price of an existing home increased 3.2 percent, according to a C.A.R. reported today. "The focus on foreclosures and subprime lending is ongoing and, coupled with higher inventories of homes for sale, is prompting many would-be buyers to play a 'wait-and-see' role,"' said C.A.R. President Colleen Badagliacco. "However, well-maintained homes with curb appeal that are priced for today's market continue to sell. It's often a matter of counseling buyers and sellers to set realistic expectations on both sides of the transaction." "First-time buyers continue to be impacted by tighter mortgage underwriting standards and the affordability challenge, which has not improved significantly despite price declines in most regions of the state," she said. Closed escrow sales of existing, single-family detached homes in California totaled 364,280 in June at a seasonally adjusted annualized rate. Statewide home resale activity decreased 24.7 percent from the 483,690 sales pace recorded in June 2006. LAEDC SAYS SO. CAL HOUSING SECTOR TO DRAG WELL INTO 2008 Southern California's overall economic picture going forward looks generally positive, but the housing market is expected to limp through 2008 with only modest recovery expected by 2009, according to the mid-year economic forecast by the Los Angeles County Economic Development Corporation (LAEDC). The LAEDC is predicting a 1.4 percent spike in the number of non-farming jobs across the region through 2008, with support from the tech, health services, and leisure and hospitality industries, bolstered by steady growth in international trade. For the housing industry, the picture isn't quite as upbeat. "A frequently asked question is when the housing industry will turn around," said LAEDC Chief Economist Jack Kyser. "We are a tad bearish, forecasting a distressing 33.7 percent decline in the number of new housing permits in the five-county area in 2007 and a 6.8 percent slide in 2008." Continued weakness in the industry, said Kyser, will hold through late 2008, with only "restrained" recovery expected. "Don't look for a return to double digit gains in prices," he said.CALIFORNIA FORECLOSURES HIT HIGHEST RATES IN A DECADECalifornia foreclosures soared to their highest level in more than a decade during the last quarter according to a recent report by DataQuick Information Systems. Lenders submitted 53,943 Notices of Default (NoDs) during the period from April to June, according to DataQuick, up 15.4 percent from 46,760 from the previous quarter, marking the highest level recorded since the fourth quarter of 1996 at 54,045 NoDs. Foreclosure notices topped out at 61,541 during the first quarter of 1996, but fell to 12,417 by the third quarter.NEW STUDY SHOWS CITIES REAP FISCAL REWARDS FROM HOUSING The fiscal benefits from new home construction generate solid revenue streams for state and local municipalities, according to a study by the California Homebuilding Foundation (formerly the California Building Industry Foundation). "The Housing Bottom Line: Fiscal Impact of New Home Construction on California Governments," challenges frequent claims that new home construction costs state and local governments more in services than it generates in tax revenue. The study shows new median-priced homes provide a strong one-time fiscal benefit upon completion and continue to generate ongoing revenue thereafter. The study said that a city nets on average $3,017 in one-time benefits for each new median home built, ranging from $2,353 in the San Diego area to roughly $6,800 in portions of the San Francisco Bay Area, while county governments net averages of $1,706 in one-time benefits, and the state recognizes a windfall $15,858 through corporate and sales tax revenue. "Although many consulting firms and university researchers have looked at the fiscal effects of a specific development project on one city or one county, no previous study that examines the overall fiscal effects of housing at the state level or looks at multiple cities or counties has been found," said Mathew Newman, one of the authors of the study. "This analysis seeks to fill the gap in the existing literature with respect to the statewide fiscal impact of new housing, focusing on whether new housing does in fact 'pay its own way.'"MORTGAGE APPLICATIONS FALL BY 3.6 PERCENTThe number of applications for home mortgages fell 3.6 percent during the week ending July 20, according to the latest survey form the Mortgage Bankers Association (MBA). According to the MBA's latest survey, the market composite index used to gage mortgage application volume slipped 3.6 percent to 609.0 on a seasonally adjusted basis from 631.6 the prior week. Meanwhile, refinancing activity showed some strength for the period, likely a response to slightly lower interest rates. Refinance loan applications accounted for 38.5 percent of all applications, up from 37.7 percent the previous week.TOP PRODUCER PANEL SET FOR EXPOREALTORS® Stephanie Vitacco, Raju Chhabria, Marty Rodriguez, and Ron Wynn will share their experience and insights on how to thrive in California's real estate industry at CALIFORNIA REALTOR® EXPO'S Top Producer panel, slated for Thursday, Oct. 11 from 9 a.m. to 10:30 a.m. Moderated by REALTOR® Wendy Furth, the panel includes in-depth discussions on marketing techniques, technology investments, current industry and business trends, and more. More than 10,000 attendees are expected at this year's EXPO in Anaheim, which will feature nearly 300 exhibit booths, cutting-edge seminars, and a number of special events. Highlights include the Tech Tuesday Luncheon on Oct. 9, featuring Frans Johansson, author of "The Medici Effect." Other EXPO events include the DRE Forum with Commissioner Jeff Davi on Oct. 10; REALTOR® Night Out at Disneyland, taking place Oct. 10 from 6 p.m. to 10 p.m.; and the EXPO Closing Luncheon on Oct. 11, featuring former UCLA basketball coach John Wooden.HOW TO AVOID PROBATE SUBJECT OF NEW LEGAL BRIEFC.A.R.'s Member Legal Services has published a new legal article aimed at helping REALTORS® understand and avoid entering into the thorny issue of probate. "Avoiding Probate: Small Estates" is available on Legal's What's New and the Legal Articles pages of C.A.R. Online (www.car.org). The article details the non-probate procedures for transferring title in personal and real property when a decedent'sestate is valued at $100,000 or less. Included are links to Judicial Council forms as well as the DMV form for transferring titles on automobiles and vessels.NEW REAL ESTATE LICENSE REQURIEMENTS TAKE EFFECT OCT. 1Beginning Oct. 1, AB 2429 requires all new applicants for the real estate salesperson exam to show proof of having completed a three-semester, or quarter-unit equivalent, college-level course in real estate principles, real estate practice and one additional course set by the California Department of Real Estate.

BOARD OF DIRECTOR ELECTION 2008 RESULTS

Posted on July 24, 2007 by admin

Congratulations to our new Board of Directors: Gary Crutchley, Howard Dellsite, and Frank Galante! We would also like to thank Jan Bates for her effort in this election.<div align="center"><h2>BOARD OF DIRECTOR ELECTION 2008 RESULTS</h2> 
 
<img src="http://www.srcar.org/images/08results-1.gif" alt="results" width="358" height="301" /> 
<table width="217" border="0" cellpadding="2" cellspacing="0"> 
<tr> 
<td>Candidate:</td> 
<td># of Votes </td> 
</tr> 
<tr> 
<td width="127" bgcolor="#F1F1EF">Jan Bates</td> 
<td width="82" bgcolor="#F1F1EF"><div align="center">227</div></td> 
</tr> 
<tr> 
<td>Gary Crutchley</td> 
<td><div align="center">305 </div></td> 
</tr> 
<tr> 
<td bgcolor="#F1F1EF">Howard Dellsite</td> 
<td bgcolor="#F1F1EF"><div align="center">234</div></td> 
</tr> 
<tr> 
<td>Frank Galante</td> 
<td><div align="center">275 </div></td> 
</tr> 
</table></div>

CAR Sacramento Update – Private Transfer Tax

Posted on July 19, 2007 by admin

REALTORS® SCORE ONE-TWO PUNCH AGAINST PRIVATE TRANSFER TAXESIn the ongoing battle against the the pernicious practice of private transfer taxes, C.A.R. made great strides last week on two separate legislative fronts. With the help of REALTORS® who contacted their senators to voice concerns about AB 1574 (Houston), the bill legitimizing private transfer taxes was withdrawn from the agenda for the Senate Transportation and Housing Committee, apparently lacking sufficient support among committee members. An interim hearing is expected to be held during the fall to investigate the imposition of private transfer taxes by developers. AB 1574 is the builder-sponsored response to C.A.R. sponsored SB 670. A loophole in California law lets developers and other non-government entities impose "private" transfer taxes (PTTs) on homes every time the property is sold – with no oversight, no accountability and no limit on the number of separate private transfer taxes that can be piled onto a home. As introduced, AB 1574 is designed to legitimize the practice of imposing these "taxes" by making permanent the loophole that allows them to be imposed. While AB 1574's supporters claimed that the bill addressed many problems with these taxes brought to light by C.A.R.'s bill, it really did nothing to fix them. C.A.R. continues to oppose AB 1574 because it legitimizes PTTs without adequate safeguards. In a separate but equally significant development last week at the capitol, AB 980 (Calderon) passed the Senate Judiciary Committee. C.A.R. is the sponsor of AB 980 (Calderon) Disclosure of Already Imposed Private Transfer Taxes, which passed the Senate Judiciary Committee on July 10. This bill will require recordation of a separate disclosure to potential home buyers as to whether the home they are considering purchasing requires the payment of a private transfer tax (PTT), the percentage of the home price constituting the PTT, the duration of the payment obligation, and the recipient of the PTT payment.

CAR Legal Online Update

Posted on July 19, 2007 by admin

Member Legal Services has added a section on the <a title="http://www.car.org/index.php?id=NTg0#HCD" href="http://www.car.org/index.php?id=NTg0#HCD">California Department of Housing and Community Development (HCD)</a> to the <a title="http://www.car.org/index.php?id=NTg0" href="http://www.car.org/index.php?id=NTg0">Real Estate Regulatory Updates</a> section of Legal Online. Included are links to the <a title="http://www.hcd.ca.gov/codes/shl/ModelChecklistFinal1-10-07Version.pdf" href="http://www.hcd.ca.gov/codes/shl/ModelChecklistFinal1-10-07Version.pdf">2007 HCD New Home Universal Design Checklist</a> (a form developed by the HCD to implement a requirement of AB 1400) and <a title="http://www.car.org/index.php?id=MzI2ODk=" href="http://www.car.org/index.php?id=MzI2ODk=">AB 1400</a>, the law that requires a developer of any new residential housing development to provide a buyer with a list of specified universal accessibility features that would make the home entrance, interior routes of travel, kitchen, and bathrooms, fully accessible to persons with disabilities.

MRMLS to Change the Way Baths are Recorded in a Listing

Posted on July 13, 2007 by admin

<table width="686" border="0" cellspacing="0" cellpadding="0"> 
<tr> 
<td colspan="2"><img src="http://www.srcar.org/images/mrmls/idate20070713-1.jpg" alt="1" width="686" height="250" /></td> 
</tr> 
<tr> 
<td width="210"><img src="http://www.srcar.org/images/mrmls/idate20070713-2.jpg" alt="2" width="210" height="330" /></td> 
<td width="476" valign="top">To fix this confusion, four new fields: BathFull, BathThreeQuarter, BathHalf, and BathQuarter will be added to MRMLS Matrix. As of August 1, 2007 agents will record the number of full baths, three-quarter baths, half baths, and quarter baths in these fields. 
 
The current “Baths” field will become read-only and will be automatically populated by MRMLS Matrix. It will display the sum of the four fields above as the total number of baths. 
 
Example: 
If a listing has two full baths and one half bath, the agent would enter “2” in the BathFull field, “1” in the BathHalf field, and “0” in the BathQuarter and BathThreeQuarter fields. The MRMLS Matrix System will then display “2.5” in the Baths field.</td> 
</tr> 
</table>

CAR Legal News

Posted on July 10, 2007 by admin

Member Legal Services has published a revised legal article, <a title="http://www.car.org/index.php?id=MzA1MTk=" href="http://www.car.org/index.php?id=MzA1MTk=">Licensing Chart for REALTORS® </a>(July 9, 2007). It is available on Legal's <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng== 
http://www.car.org/index.php?id=Ng==" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng==" target="_blank">What's New</a> and the <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz 
http://www.car.org/index.php?id=NTgz" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz" target="_blank">Legal Articles</a> pages on C.A.R. Online. This chart has been updated to reflect the changes in the law concerning mineral, oil and gas (MOG) transactions. There have been no other substantive changes; however, an introduction has been added and a few minor revisions have been made. The category "Sale of Certain Securities" includes a brief introduction explaining that the listed transactions are those for which a real estate broker's license is required but not a securities broker's license.

Virtual Earth Coming to MRMLS 7/13/07

Posted on July 10, 2007 by admin

When you wake up on Friday the Thirteenth, do not be scared, Microsoft’s® Virtual Earth™ will have landed at MRMLS!!! 
 
<img src="http://www.srcar.org/images/random/idate20070710.jpg" width="500" height="462" alt="idate" /> 
A Four-Directional View of MRMLS Office in Pomona, CA. 
 
In other words, MRMLS Matrix’s mapping will be greatly enhanced via Virtual Earth™ technology. You will be able to: 
<ul> 
<li>View street maps like you always could</li> 
<li>View aerial imagery of listings, including birds-eye view, which lets you see the property from four different directions: Northern, Southern, Eastern, or Western </li> 
<li>Overlay street maps onto an aerial map (See example above)</li> 
<li>(Driving directions will be added in future update)</li> 
</ul>

SRCAR Connect

SRCAR's Blog

Monthly Archives: July 2007

Hollingsworth’s Emergency Services Bill Signed

New Legal Article from CAR

Governor Signs Hollingsworth LAFCO Bill

News from C.A.R.

BOARD OF DIRECTOR ELECTION 2008 RESULTS

CAR Sacramento Update – Private Transfer Tax

CAR Legal Online Update

MRMLS to Change the Way Baths are Recorded in a Listing

CAR Legal News

Virtual Earth Coming to MRMLS 7/13/07

July 2007
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