January 1, 2019 Water Efficiency Requirements for Multi-Family Housing- 4 or More Units/Common Interest Developments
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
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
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!
Click below to view the slides about how to help pass prop 5 and defeat prop 10
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.
Interesting demographics to take a look at! MCAR 2018 updated demographics for the Monterey County Area.
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.
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.
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.
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