4th

 

The RIMAOR Office located at 28200 Hwy 189, Suite O1-240

will be CLOSED on Monday, July 4th 2016.

 We wish you and your families a fun and safe holiday!

 

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 * * *

C.A.R. Opposing Bill to Expand Rent Control 

VOTE COULD BE TODAY!!   C.A.R. is OPPOSING AB 2502 (Mullin), a bill that would weaken the rent control limitations contained in the landmark “Costa-Hawkins” law sponsored by C.A.R. in 1995. C.A.R. opposes AB 2502 which undermines existing Costa-Hawkins’ protections by allowing local governments to impose mandatory inclusionary zoning (i.e. rent control) on newly constructed rental housing, without any consideration for the economic viability of the project. AB 2502 effectively repeals part of the C.A.R. sponsored Costa-Hawkins legislation that says new construction in a rent control jurisdiction is exempt, or NOT subject to rent control. It is vitally important that you reach out to your elected representative today!   AB 2502 could be considered by the entire Assembly as soon as TODAY.   Action Item • Call your Assembly Member TODAY. Assemblyman Jay Obernolte • Urge him or her to oppose AB 2502.   Background Under existing law (Costa-Hawkins), new construction of rental units is not subject to local rent control ordinances. AB 2502 seeks to use “inclusionary zoning” to undo that provision in Costa-Hawkins. “Inclusionary Zoning” ordinances allow local government to require builders to set aside (include) a percentage of units at below-market rent levels. In the appellate case Palmer v. The City of Los Angeles, the court held that the City of Los Angeles could not use inclusionary zoning to evade Costa-Hawkins. AB 2502 essentially undoes that court decision, and would effectively repeal the new construction exemption of Costa-Hawkins. Talking Points • AB 2502 would exacerbate the housing … Read more…