The California Association of REALTORS® has created a chart summarizing new laws passed by the California Legislature and the U.S. Congress that may affect REALTORS® in 2016. View the chart Current topics been affected by new laws: Advertising - "Hosting Platforms" (such as Airbnb) Must Provide Warning Auctions - Credit Bid Exception Eliminated Effective September 28, 2015 Broker and Agent Practice - Team Names Effective July 16, 2015 Broker and Agent Practice - Threshold Brokers Broker and Agent Practice - Trust Fund Withdrawals Common Interest Developments - Clothesline or Drying Racks Common Interest Developments - FHA or VA approval Effective July 1, 2016 Common Interest Developments - Water Use Effective September 9, 2015 Developments - Water Use Effective, October 11, 2015 Consumer Protection - Information Security Procedures Consumer Protection - Information Security Breach Notification Disclosures - Repeals Energy Use Disclosures for Commercial Property Discrimination - Construction Related Accessibility Lawsuits Discrimination - Protections against Discrimination Based Upon Citizenship, Primary Language or Immigration Status Employment - Discrimination Based Upon Disability and Religious Belief Employment - Discrimination Based Upon Gender, Equal Pay For Substantially Similar Work Employment - Paid Sick Leave Clean-Up Legislation Effective July 13, 2015 Employment - Use of Paid Sick Leave Escrows - Bonding and Business Location Rules for Underwritten Title Companies Effective July 1, 2016 Financing - Homebuyer's Downpayment Assistance Program Insurance - Earthquake Premiums Landlord/Tenant - Clotheslines or Drying Racks Landlord/Tenant - Insurer may not discriminate on basis on the renter's source of income or receipt of public assistance. Landlord/Tenant - Mold, Habitability Standards Landlord/Tenant - Notice of Pesticide Use Landlord/Tenant - Price Gouging During a Declared State of Emergency Landlord/Tenant - Rent Control in City of Richmond Effective Date Suspended Landlord/Tenant - Victim's Right to Terminate Tenancy Licensing - Continuing Education Licensing - Personal Information Marijuana Regulation - Structure to License Tax and Regulate Mobilehomes - Criteria for Park Approval of Purchaser; For Sale Signs Effective July 1, 2016 Mobilehomes - Disposal of Abandoned Mobile Homes Mobilehomes - Restraining Orders in Limited Civil Cases Probate Avoidance - Transfer on Death Deed with Named Beneficiary Tax - Exemption from Additional Recording Fee Tax - Fire Prevention Tax - Private Transfer Fees Utilities - Liens on Real Property Imposed by Municipal Utility Districts Water Use - Artificial Lawns Effective October 9, 2015 Water Use - Lawn Appearance
RealtyTrac recently analyzed school test scores for nearly 27,000 elementary schools in more than 7,200 U.S. ZIP codes, along with home price affordability in those same ZIP codes. Out of 1,823 ZIP codes with at least one good school, 1,192 (65 percent) were unaffordable for average wage earners - meaning average wage earners need to spend more than one-third of their income to buy a median-priced home. Metro areas with the most unaffordable ZIP codes with good schools were Los Angeles (183), New York (158), San Francisco (77), Chicago (58), San Diego (49), Riverside-San Bernardino, California (39), Seattle (35), Miami (33), Denver (30), Sacramento (30), and San Jose (30). Metro areas with the most affordable ZIP codes with good schools were Chicago (172), Detroit (45), Phoenix (22), Miami (20), Charlotte (17), St. Louis (16), Tampa (15), Milwaukee (14), and Rochester, New York (13), followed by six metro areas with 10 apiece; Albany, New York; Nashville, Buffalo, New York; Rockford, Illinois; Grand Rapids, Michigan; and Kansas City. In ZIP codes with at least one good school, the median home price was nearly double the median home price in ZIP codes with no good schools. The median sales price in 2015 for homes in ZIPS with good schools was $411,573 on average, 95 percent higher than the median home sales price in ZIP codes without any good schools ($210,662). Home Prices in 2015 increased at the same annual pace in ZIP codes with at least one good school as in ZIP codes with no good schools. Median home prices increased 7 percent on average from 2014 to 2015 across the 1,823 ZIP codes with good schools and also increased 7 percent on average during the same time period in the 5,424 ZIP codes without a good school. Visit http://www.realtytrac.com/news for more on this and other real estate topics.
Keep your business free from fines and legal trouble by taking a moment to review real estate advertising rules.
State of California Bureau of Real Estate License Disclosure Requirements for AdvertisingReview the chart showing the required disclosures of licensure for various advertising scenarios. Also included are the requirements of the Business and Professions Code, which applies to all first point-of-contact materials designed to solicit the creation of a professional relationship between the licensee and the consumer. The disclosures are required in all advertising including, but not limited to, flyers, mailers, TV, radio, newspapers, magazines, yellow pages, and the Internet. View the chart.
Sandicor Rules and Regulations12.8 Advertising of Listing Filed With the MLS "A listing shall not be advertised by any participant or subscriber, other than the listing broker, without the prior written consent of the listing broker except as provided in Section 12.16 relating to display of listings on the Internet." View Sandicor Rules and Regulations
Legal Q&As on Real Estate AdvertisingAdvertising by REALTORS® (Login) Advertising Someone Else's Listing (Login) How to Properly License Property Photographs
54 Percent of U.S. Metros on Pace to Reach Eight Year High in Home Sales in 2015 Based on Sales Through AugustRealty Trac released its August 2015 U.S. Home Sales Reports, which shows single family home and condo sales through August were on pace for an eight-year high nationwide and in 110 out of 204 (54 percent metropolitan statistical areas with sufficient sales data. Nationwide, a total of 1,947,028 U.S. single family homes and condos sold through August in 2015, up 5.4 percent from the same time period last year, and the highest total for the first eight months of the year since 2007, when there were 2,069,963 sales. Out of 204 local markets, 58 (28 percent) were on pace through August to reach nine-year highs in home sales in 2015, and 22 (11 percent) were on pace through August to reach 10-year highs, including Denver, San Diego, the Florida markets of Sarasota, Naples and Palm Bay, along with Grand Rapids, Michigan and Reno. San Diego County was listed in the top five of major markets with the biggest increases in home sales. San Diego County was in the top 10 of major markets with increasing share of FHA buyers. And among metropolitan areas with a population of least 1 million, Southern California took in second highest share of FHA buyers throughout the nation, with 36.5 percent. RealtyTrac is a leading provider of comprehensive U.S. housing and property data, including nationwide parcel-level records for more than 130 million U.S. properties. Detailed data attributes include property characteristics, tax assessor data, sales and mortgage deed records, distressed data, including default, foreclosure and auctions status, and Automated Valuation Models (AVMs).
Paragon Users! Windows 10 has been added to the list of compatible and supported operating systems for use with Paragon MLS system.
REALTORS® across the country receive threatening demand letters and lawsuits alleging patent infringement based on the use of common business tools, such as drop down menus or search alert functions on websites and the scanner function on a copier. These patent trolls buy vague patents and use them to turn everyday business practices into potential lawsuits. H.R.9 is scheduled for the House floor consideration later this summer, a comprehensive patent litigation reform to protect Main Street businesses and REALTORS® from patent troll abuse. Tell your U.S. Representative to support H.R.9, the Innovation Act, to stop patent trolls and protect the real estate industry from frivolous lawsuits! Protect Your Business! Take Action Today
By Ernie Cowan NSDCAR Vice President of Government Affairs A nicely dressed man walks into your real estate office. He has a friendly smile and you are anticipating he could be a good client. You welcome him, reach to shake hands, but he hands you an envelope and says, "You've been served." What a great way to start your day. As you begin to read the legal documents, it appears you are being sued for patent infringement. How could this possibly be? Unfortunately this is happening in real estate offices across the nation, along with other businesses from grocery stores to hotels. This new form of legal extortion is growing at an estimated $29 billion annually. This is money being taken from businesses, including REALTORS® who are being sued for their unwitting use of such things as routine office equipment or web tools. In the past few days, the National Association of REALTORS® has sent out a Call For Action, urging REALTORS® to contact their Congressmen to support legislation that would address this abuse of the legal process. H.R. 9, the Innovation Act, has been introduced to create reforms in the nation’s patent litigation system. When passed this new legislation would address abuses by practitioners known as patent trolls. Perhaps you ignored or did not get the NAR Call for Action. It could cost you thousands of dollars. The NSDCAR Government Affairs department has been monitoring this situation and would like to provide additional insight into why REALTORS® should care and exactly how they can help defeat this abusive practice. This is how the patent abuse works. Companies purchase broad patents and because of vague language and complicated patent laws they are able to threaten lawsuits to end users who legally purchased a product. Some examples are suits threatened for the use of scan-to-email software, map search tools used by many REALTORS® on their websites, copiers or online tools used every day. The goal seems to be to force payment rather than go to court. The patent troll knows it will be cheaper for a business to settle rather than incur the cost of litigation. H.R. 9 has passed the Senate Judiciary Committee and has momentum, but also opposition. That is why NAR issued the Call for Action. Take a moment to visit www.realtor.org and click on the Call for Action screen on the home page. This will help let your representative know that you support reforms that will protect Main Street businesses and REALTORS®. If you have not already done so, you can also download an iPhone or Android app that will allow you to respond to calls for action with just a few clicks of your mobile device. Visit the Apple App Store, or Google Play for android devices. Look for the REALTOR® Action Center app. Take a moment to enter your NRDS number. After that when you receive a Call for Action, you can simply click on “Take Action” and your representative is notified. This simple tool makes you even more effective and the Voice of Real Estate even louder and more powerful. Take action today.
To view the NSDCAR 2015 Election results, click here.
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As part of the resources provided by the new Center for California Real Estate (CCRE), NSDCAR REALTOR® members now have a brand new member benefit from C.A.R. C.A.R.’s Thought Leadership program has partnered with a leading think tank, The Futures Company, to provide California REALTORS® with special access to a suite of invaluable data, research, reports, consumer trends, and economic insights. Available through the CCRE website, this collection of consumer-centric research offers access to the critical trends shaping today’s consumer marketplace – helping REALTORS® better understand their clients and competitors. Additionally, members receive analyses about topical economic developments, marketplace dynamics, and emerging industry trends. What's available: