REALTORS, Homeowners and Aspiring Homeowners: Natural allies in supporting the American Dream

The Los Angeles Times reported on Sunday about new resources to help REALTORS® do what they do best: promote homeownership and help consumers understand their homebuying choices.

More often than not, the Realtors' agenda is in tandem with the interests of buyers, sellers and ownerse of real estate. There is, as the group says on its website, "a natural alliance."

The National Association of REALTORS® is helping its members nationwide work directly with consumers - including buyers, sellers, homeowners, and those aspiring to own a home - to cut through all the media noise and understand what is most relevant for each person's individual needs.

Meanwhile, the REALTORS® advocacy at the national, state and local levels ensure that homeownership remains a possibility for more Americans - as buyers who are qualified to purchase a home should be able to do so without additional runaround from lenders, banks, or excessive regulations.

Even as the November 6 Presidential election gets close, it is worth remembering the most important point in the Times' story about who these consumers are:

And make no mistake, homeowners are voters. Some 85% of owners are registered to vote.

And hopefully you are registered to vote as well. If not, then hop to your local post office or library today! If you are a California resident, click here to register. The deadline to register is October 22, or October 30 if you vote by mail. Don't wait - your democracy depends on it.

ALERT: In just a few short weeks, the Los Angeles City Council may put a doubled real estate transfer tax on the March 2013 ballot! Can the Los Angeles real estate market sustain the highest transfer taxes in the region?

The City of Los Angeles may double the real estate transfer tax - but it's already one of the highest in the region. Tell City Council to say NO to this bad policy. There has to be a better way to get the fiscal house in order.

http://stopunfairtaxes.org/

Manhattan Beach Vacation Rentals during 6-Man Volleyball Tournament

Important Information about Manhattan Beach Vacation Rentals during the Charlie Saikley 6-Man Beach Volleyball Tournament

Frequently Asked Questions about Vacation Rentals in Manhattan Beach

The Manhattan Beach City Council recently passed a new ordinance adding new regulations to certain types of vacation rentals in Manhattan Beach. A number of REALTORS® living or working in Manhattan Beach brought questions about the regulations, including about what kinds of properties are subject to the new rules, are there additional fees and whether the new restrictions apply citywide.

Please see below a list of Frequently Asked Questions about the new vacation rentals ordinance. In addition, you are urged to work with city officials on this and future proposed regulations. REALTORS® seek to preserve private property rights in a way that is balanced with public safety and quality of life in the community.


The City Council passed an ordinance regulating vacation rentals on July 3, 2012. Does this affect all vacation rentals in the city?
No. The new vacation rentals ordinance only applies to vacation rentals during the dates of the Charlie Saikley 6-Man Beach Volleyball Tournament, and it only applies to the Strand, specifically the area bounded by 1st St., Ardmore Ave., North Blanche Rd., and Marine Ave. This year, the permit period is July 26 to August 6. Please see the City of Manhattan Beach website for more information.

Do I have to pay any fees for my vacation rental during the Volleyball Tournament?
If your vacation rental is in the above area for these dates, you may be subject to certain fees, transient occupancy taxes and business license taxes. Please see the City of Manhattan Beach website for more information.

Do I have to apply for permits and pay fees if my vacation rental is not related to the Volleyball Tournament, in a different part of the city or on different dates?
The permit for vacation rentals only applies to the dates and locations related to the Volleyball Tournament, as described above. However, vacation rentals in Manhattan Beach are subject to transient occupancy taxes, as are hotels and motels (Municipal Code 8.20). You are urged to contact the city finance department for more information on any tax liability.

Why did the City Council pass this particular ordinance?
The City reported that there were concerns about “public health, safety, and welfare presented by the operation of [unregulated] vacation rentals” during the period of the Volleyball Tournament.

Why did the City Council pass this ordinance so quickly?
This was passed as an “urgency ordinance”, which permits local city councils to bypass the longer process of legislation when the city determines that there is a need for the “immediate preservation of the public peace, health, and safety.” More information on urgency ordinances is available in Government Code Section 36937(b).

Is the City Council going to regulate vacation rentals all over the city and all year?
The South Bay Association of REALTORS® understands that the current ordinance only applies to the dates and locations related to the Volleyball Tournament and is not applicable to the rest of the city. SBAOR has expressed concerns that an extensive, citywide regulation or ban on vacation rentals is detrimental to our profession, to property owners and to the local economy.

Success! National Flood Insurance Program Reauthorized for 5 Years

The National Association of REALTORS® reports that late last week Congress acted on one of NAR's key legislative priorities, a 5-year reauthorization of the National Flood Insurance Program (NFIP). The 5-year reauthorization will bring certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage. The bill ensures the program will continue long-term for more than 5.6 million business- and home owners who rely on it.

This has been a long, arduous battle. The NFIP suffered through 25+ short-term extensions; hobbling along for more than seven years without a long-term reauthorization. Because of the resolve of REALTORS® nationwide, we stayed the course to give lenders and homeowners more certainty in the mortgage and real estate marketplace with available flood insurance for existing homeowners and those buying and selling.

For more information, see the Flood Insurance update at http://www.realtor.org/articles/congress-reauthorizes-flood-insurance-for-5-years.

Update: State Legislative passes a flawed package of homeowner protections

The California Association of REALTORS® reported today that the California Legislature passed a Conference Report that was a key element of the Attorney General’s package of bills making up a so-called “Homeowners Bill of Rights.” The legislation is intended to codify the national negotiated settlement between the state’s Attorney General and major banks. C.A.R. has been opposing this well-intentioned legislation because it will encourage the filing of lawsuits intended for delay, and further discourage lending.

 While C.A.R. is disappointed in the final outcome, the good news is that what has passed is a much improved version of the package of bills initially sponsored by the Attorney General, which would have originally halted ALL foreclosures, drying up both REO inventory and even short sales. During C.A.R.’s Legislative Day in Sacramento on May 2, REALTORS® successfully lobbied their legislators against these dangerous provisions and the Conference Committee ultimately didn’t include them in the Conference Report.

C.A.R. will continue to fight for the thoughtful, balanced reform of the foreclosure process. For example, C.A.R. is sponsoring AB 1745 (Torres) which prohibits “dual tracking” to prevent lenders from selling a property at a foreclosure sale if a short sale has already been approved. C.A.R. has also worked cooperatively with the Attorney General on several of the bills in her “bill of rights.”