Monthly Membership Breakfast, Dates To Remember, Education Links, and Latest News!!

C.A.R released the following new forms in December 2016

  1. ACS: Agent Commission Sharing Agreement. This form is used to document the relationship between two licensees who are working together. It covers topics such as scope of agreement, commission, splits, pre-existing clients, and termination. It can be used if both agents are in the same or different brokerage companies.
  2. BEO: Buyer Early Occupancy Addendum. This – 2 page form creates contractual language for when a buyer moves into seller’s property prior to COE for less than 30 days. A long form that mirrors the Residential lease already exists for either long term or short term buyer early occupancy. This already existing form is the Interim Occupancy Agreement, CAR for IOA.
  3. CLCA: Commercial Lease Construction Accessibility. This is an addendum to the Commercial lease addressing accessibility standards.
  4. RCSLLL: Representative Capacity Signature Disclosure (For Landlord Representatives). This form accommodates signatures when a landlord is an entity.
  5. RCSDT: Representative Capacity Signature Disclosure (For Tenant Representatives). This form accommodates signatures when a tenant is an entity.
  6. SUM-RPA: Summary of RPA. This form summarizes, in chart form, many of the significant deal points in the RPA.
  7. SUM-MO: Summary of Multiple Offers. This form summarizes the same items in the SUM-RPA but allows for a side-by-side comparison of these deal points for up to so many multiple offers.
  8. WCMD: Water-Conserving Plumbing Fixtures and Carbon Monoxide Detector Notice. This form modifies existing Carbon Monoxide Detector Notice to add language about water conserving plumbing devices. It identifies the compliance and disclosure requirements of the law and State law standards to assess if plumbing fixtures are ‘non-compliant”.

Revised Forms – there were 6 revised forms in the December 2016 release.

  1. ESD: Exempt Seller Disclosure
  2. SPQ: Seller Property Questionnaire. Both of these forms are being updated to include questions and statutory language concerning water conserving plumbing devices. Starting January 1, 2017, California law requires owners of single family residential properties built prior to 1994 to replace non-compliant plumbing devices (such as toilets and shower heads) with water conserving plumbing devices. For other properties, such as condo’s, multi-family & commercial, sellers do not have to meet the replacement requirement until January 1 2019.
  3. OA: Option Agreement. Language was added to the form about lease remaining in effect even if the option is not exercised.
  4. PCQ: Notice to Perform Covenant (CURE) or Quit
  5. PRQ: Notice to pay Rent or Quit. Language was added to these forms to identify a specific individual to whom the rent payment is supposed to be delivered, especially if that person is different from the person to whom the rent payment is made out to.
  6. SIP: Seller License to Remain in Possession Addendum. The revision to this form specifies that the Buyer is granting the seller a license to remain in possession rather than a tenancy.       –  Anna Cooper, Director

Monthly Membership Breakfast

Welcome Members and Affiliates to our Monthly Membership Breakfast!! We are excited to announce The Lake Arrowhead Resort will be our location for this year’s breakfast. Please join us at 9:00 AM, the second Wednesday of every month, for some good food, updates on our communities, speakers, etc. We will have something new every month, including a raffle and very cool prizes!! We look forward to seeing you all there!!

 

 Dates To Remember For
For April 2017

Board of Directors meeting is Wednesday April 19th @ 9:00 AM

Follow the link to sign up for N.A.R’s Code Of Ethics training  https://www.nar.realtor/code-of-ethics/training

For any REALTORS needing to renew their licenses, C.A.R.  is offering 45 hours of free continuing education courses. To get started, click on the link provided today! http://www.car.org/education/licenserenewal/  C.A.R. is also offering many webinar courses to fit your busy schedule. To see what is available, click on the link provided to get started! http://www.car.org/education/calendar/

Just A Reminder, in 6 to 8 weeks we will changing our MLS system. 

     

C.A.R. 2017 WINTER MEETING REPORT

February 9, 2017

C.A.R. Director Tonja Graff

C.A.R. 2017 WINTER MEETING REPORT

The California Association of Realtors Board of Directors has approved the Central California Realtors Commercial Overlay Board that will affect the following associations: Central Valley, Humboldt, Lake County, Mariposa County, North Bay, Sacramento, Sierra, North Valley, Siskiyou, Sutter-Yuba

Regarding Taxation and Government Finance

C.A.R. will sponser legislation to update the current PTF notice to also inform home buyers of FHA and FHFA regulations relating to PFT’s and how those regulations may impair the ability to obtain financing.

Transaction and Regulatory

C.A.R. will sponsor legislation to require a three month waiting period for those exam applicants who have failed the real estate exam two times.

C.A.R. will in conjunction with N.A.R. support excluding Home Equity Conversion Mortgages (HECM) reverse mortgage loans when determining the statutory-minimum capitol reserves of the Mutual Mortgage Ins. Fund.

Home Ownership Housing

C.A.R. will support AB 30 which authorizes local governments to create overlay districts authorizing by-right infill development.

Housing Affordability Fund

The C.A.R. Housing Affordability Fund will allocate an additional $500,000 towards a statewide Home Owners Association first time home buyer program, which would grant either $2,500 or 6 months of HOA dues. Whichever is less to consumers that would qualify under the program requirements and restrictions. Applicants would apply after the close of escrow.

Realtor Action Fund 

The Realtor Action Fund Committee passed a motion to revise their mission statement. Also the RAF objectives for 2017 are that each association reach 19% RAF Voluntary Participation and that RAF raise $2.8 million dollars.

MLS Policy

That, upon final approval by N.A.R., the C.A.R. Model MLS Rules Section 12.7 will be revised to better clarify the categories of sold information which are allowed t be displayed in promotional mailers, including maintain the existing standars thaty MLS photos of sold listings are not allowed, and that staff make any necessary related additional corrective or correlating changes to the model MLS rules and Model Citation policy.

 

Respectfully,

Tonja Graff

Association President

Call to Action!

NAR CFA: Tell the Senate to Get to Work for Future Homebuyers

Key Talking Points

H.R. 3700 was passed by the U.S. House 427-0. Despite passing with NO OBJECTIONS, the U.S. Senate has not acted on H.R. 3700.

This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by:

Removing a burdensome and expensive FHA Condo approval process
Reducing FHA restrictions on the number of condos available to homebuyers
Permanently streamlining Rural Housing Service loan processing

More Information on NAR’s efforts to pass H.R. 3700:

– Letter Urging the Senate to Pass H.R. 3700
– NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance.

– House Passage Press Release

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* * * Click HERE to take Action * * *