Installation Luncheon | GAD Holiday Luncheon

If you haven’t already done so don’t forget to register for our 2018 MCAR Installation Luncheon and our GAD Holiday Luncheon.

THANK YOU to our 2018 Installation Sponsors!!!

Supporting Sponsor: The Monterey Herald

Champagne Reception Sponsor: KW Coastal Estates

Table Sponsors:

Blue Adobe Mortgage

Chase Home Loans

Sotheby’s International Realty

StormND Simple IT Co.

Wells Fargo Home Mortgage

 

THANK YOU to our 2018 GAD Holiday Sponsors!

GAD Holiday Luncheon Sponsors:

Women’s Council of Realtors-Monterey Peninsula

Treehouse Mortgage Group

MCAR 2018 Installation Luncheon

A BIG THANK YOU to Monterey Herald for being our supporting sponsor! KW Coastal Estates for being champagne reception sponsor! Also Blue Adobe Mortgage, Chase Home Loans, Wells Fargo Home Mortgage and Sotheby’s International Realty for being table sponsors!!! If you are interested in attending or being a sponsor please look at the information below for more details!

 

Very Important Information for Brokers | MCAR Letter to MLSListings, Inc.

Dear MCAR Brokers:
Please see the enclosed letter to MLSListings, Inc. from the MCAR Board of Directors. We are sending this to you all in an effort to bring everyone up to speed and to underscore the importance of your involvement at the Broker and Annual Member meeting being held on Tuesday, October 2nd. Please don’t hesitate to contact me directly with any questions you may have.
Kevin

Update! AB 2364 was defeated!!!

Great news! AB 2364 (Bloom and Chiu) was defeated! It only secured 25 Yes votes, with 36 Assembly members voting No and the remainder Not Voting. All members of the Assembly were present, so those not voting did so intentionally.

This was an important victory for our fight to protect future real estate investments and private property rights.

As you know, C.A.R. opposed AB 2364 (Bloom and Chiu), which deterred property owners from returning to the rental housing business for 10 years. AB 2364 would have significantly weakened the Ellis Act by discouraging new rental housing investment and would have ultimately made the state’s housing crisis even worse.

 

 

 

Red Alert on AB 2364!

MCAR Members,

C.A.R OPPOSES AB 2364 (Bloom and Chiu), which deters property owners from returning to the rental housing business for 10 years. AB 2364 significantly weakens the Ellis Act by discouraging new rental housing investment and will ultimately make the state’s housing crisis even worse. AB 2364 will be considered by the entire Assembly this week.

Action Item

Call 1-800-798-6593 and enter your NRDS ID or the PIN number for your legislator followed by the # sign

to be connected with your legislator’s office.

Ask your Assembly Member to vote NO on AB 2364.

 

Issue Background

In 1985, C.A.R. successfully sponsored the Ellis Act, which is a bipartisan comprise reached by the Legislature to allow rental property owners to go out of business. Prior to the Ellis Act, unlike any other business, rental property owners were forced to stay in business, even when subjected to extreme financial conditions. The Ellis Act provides a reasonable solution that gives certainty to both rental property owners and tenants alike.

Specifically, the Ellis Act requires a property returned to the rental market before a 5-year period expires to include any deed-restricted or rent-controlled units previously located on the property. C.A.R opposes AB 2364 because, among other things, it seeks to weaken the Ellis Act by discouraging rental property owners from returning rental units to the market by effectively extending this 5-year period to 10 years.

 

Why C.A.R. is opposing AB 2364

Discouraging investment in rental housing is bad policy. AB 2364 will have a chilling effect on the state’s housing supply crisis. Substantially diminishing a rental property owner’s ability to return their property to the market will not only limit the number of available units but also adversely affect property values and the ability to finance property.

Rental property owners cannot see TEN YEARS into the future. Existing law sets reasonable and foreseeable standards for rental property owners and tenants. AB 2364 imposes unreasonable constraints on rental property owners who simply want to return their property to the market after 5 years.

Learn More

 

 

 

New NAR Ethics Testing Requirement

Change of Code of Ethics Training Requirement From Quadrennial to Biennial
The requirement for REALTORS® to complete Code of Ethics training changed to a biennial requirement (every two years) in November 2014 by action of the National Association’s Executive Committee and Board of Directors. This change originated as a recommendation from the REALTOR® of the Future Work Group. The first biennial cycle began January 1, 2017 and will end December 31, 2018. More information and background on the new two-year requirement can be found here.
About the Training Requirement
REALTORS® are required to complete ethics training of not less than 2 hours, 30 min. of instructional time within a two-year cycle. This biennial cycle will end on December 31, 2018 giving MCAR members roughly 9 months to complete the course to ensure compliance. As of today, roughly 1100 MCAR REALTOR® members have yet to complete this training requirement. The course is free and can be completed online by clicking here.
What happens if a REALTOR® doesn’t meet the training requirement on time?
Failure to meet the requirement for a given cycle will result in suspension of membership for the first two months (January and February) of the year following the end of any cycle or until the requirement is met, whichever occurs sooner. On March 1 of that year, the membership of a member who is still suspended as of that date will be automatically terminated.
Please do not hesitate to reach out to us with any questions you may have or to inquire as to the status of your compliance for this cycle.
-Kevin

It is Not Too Late to Influence Congress on Tax Reform

Call for Action
Thanks to our members’ engagement, REALTORS have helped positively influence tax reform in some key areas.  For example, both the House and Senate have agreed to maintain deductibility of state and local property taxes up to $10,000, and to maintain Section 1031 tax-deferred exchanges in their present form for real estate investments.

BUT OUR WORK IS NOT DONE.  We still have an opportunity to influence Congress to help make the tax reform bill more favorable to homeowners and consumers.  Now that both the House and Senate have passed The Tax Cut and Jobs Act, a Conference Committee will begin to address the differences between the two bills. Important improvements in the legislation are possible by encouraging Congress to maintain the current law for the mortgage interest deduction and capital gains exclusion.  Retaining current law makes the bill more favorable to homeownership.

Take action to tell Congress to protect middle-class homeowners.
Click here to take action