If you have a smart home you need cyber-security.

Posted by Kevin McElroy on Sep 12, 2019 8:25:51 AM

blog_190925TechL&L

Cyber-security : SMART homes need smart security, SMS, Email and Device backups

Wednesday, September 25th | 11:30am - 1:00pm

PSAR EAST | 1150 Broadway, El Cajon, CA 92021

        Register         

Workshops are FREE and open to all REALTORS® and Affiliated Members regardless of what
Association they are members of.


Instructor :

Mike White  - Chair of the Pacific Southwest Association of REALTORS® Technical committee where he helps educate other REALTORS® on technical matters that affect our business and advise the Association on technology issues. 

Topics: Education, Market Information, Industry

will you be the next victim of crime during a showing?

Posted by Kevin McElroy on Sep 4, 2019 11:36:58 AM

CRIME PREVENTION FOR REALTORS® - Learn the strategies and
techniques that
will help keep you safe.

Tuesday | September 17
South PSAR | 1:00pm - 3:00pm

Register

Crime Prevention Specialist Angela Gaines has two decades of working in law Enforcement, first with the Lemon Grove Sheriff station , and for the last 13 years with the Chula Vista Police Department. Training will be fun and interactive.PSAR Crime Prevention Workshop

Free Workshop Will Cover

Parking lot & vehicle safety tips
Safety strategies
Tricks to remain aware 
Learn to trust your gut Instinct
Personal security devices

Register

Topics: Education, Market Information, Industry

Take Action NOW! Urge Your Senator & Assembly Member to Vote NO on AB1482

Posted by Richard D'Ascoli on Sep 3, 2019 3:48:14 PM

REALTORS®, please check your email for a RedAlert from C.A.R. Government Affairs. We’re OPPOSING AB1482, a bill that creates restrictive rent caps and “just cause” evictions, because it discourages the creation of rental housing. Fewer housing units will result in higher rent. #AB1482, #caleg, @CAREALTORS


Red Alert No on AB1482

FOR MORE INFORMATION: Contact DeAnn Kerr for more information at deannk@car.org.

Topics: Government Affairs, Industry

Avoid Falling victim to fraud

Posted by Joyce Evans on Aug 23, 2019 3:03:03 PM

Real Estate Fraud Trends in

San Diego County

Special Guest Speaker: Summer Stephan | SD County District Attorney

DA Summer Stephan speaking to REALTORSThe PSAR Government Affairs Committee invites you to hear from DA Summer Stephan about recent trends in Real Estate Fraud in San Diego County. Knowledge to help you and your clients avoid falling victim to fraud.

REAL ESTATE FRAUD
AS IT RELATES TO:

Home

Real Property Crimes

Foreclosure Fraud

Protecting Yourself

How to Report 

 

Friday, September 20th | 12:00pm - 1:00pm

880 Canarios Court, Chula Vista CA 91910

RSVP

Topics: Education, Market Information, Industry

San Diego Turns to PSAR for Rules Regarding Companion Units

Posted by Rick Griffin on Aug 2, 2019 4:22:33 PM

Companion Unit Handbook

Here’s news about another recent PSAR success: Once again, PSAR leadership has made a significant contribution that will result in additional housing availability and improved affordability for the San Diego real estate market.

Over the past two years, PSAR has been working closely with the City of San Diego on rules and regulations relating to what’s called “Companion Units.” While other governmental agencies call them “granny flats” or “accessory dwelling units” (ADUs), the City of San Diego calls them companion units.

Companion units, typically smaller than standard homes, are second units built on the same lot as an existing single-family home. Often, these secondary units are constructed in backyards or above garages of single-family residences. They can be used by family members or rented to seniors, students or others and can provide a source of income for homeowners. PSAR is in support of property owners expanding the use of their property as a way to address the region’s housing supply and affordability crisis.

PSAR’s participation with the City of San Diego recently culminated with the city's publication of the “Companion Unit Handbook,” a 38-page booklet that serves as a helpful guide to homeowners seeking to construct a companion unit on their property.  The handbook can be accessed here, CLICK HERE.Companion Unit Handbook with PSAR help

The handbook includes information on zoning, including setbacks and parking, companion unit design and construction, permitting requirements, funding options and additional resources. The handbook answers many popular questions relating to companion units, including: what is a companion unit and where is it allowed; what are the best sources for design of a companion unit; how does one make sure they’re well prepared; ideas and inspiration for the design of a companion unit; the construction and budgeting process; costs, timing and financial sources; impact on your property taxes; what is needed for permitting and occupancy.  

“It hasn’t been easy to make progress over the past two years, but it’s been very rewarding,” said Rafael Perez, PSAR REALTOR® member who has been leading the PSAR efforts with the City of San Diego.

“From the beginning, we brought a REALTORS® perspective to the table,” Perez said. “At first, some of the people at the city had not considered how companion units could change how homebuyers view their future purchase or how existing homeowners could increase their equity. So, we were able to help shape the regulations to benefit the city and homeowners and buyers.”

PSAR’s name appears on the cover of the city’s “Companion Unit Handbook” as a contributor to the publication, along with the San Diego Housing Federation and Local Initiatives Support Corporation (LISC). PSAR’s name also is appearing in a press release announcing the availability of the handbook that is being distributed by San Diego City Council member Scott Sherman.

“Personally speaking, I have been very grateful to receive input from PSAR,” said Sherman. “PSAR members have direct experience at helping their clients with companion units. So, it made sense to follow their advice in the writing of the handbook as we continue to seek workable, common sense solutions to fixing the housing crisis.”

Sherman agreed the handbook will serve as a helpful guide to help homeowners better navigate the process of construction a companion unit on their property.

“The design and construction of a companion unit is a step-by-step process. And, success often depends on preparation and a solid understanding of the process,” said Sherman. “For anyone who is considering building or adding a companion unit on a property, this handbook will be very helpful.”

Sherman added, “In a region where average rent is nearly $1,800 a month and the median price of a home is over $500,000, renters are actively seeking alternative options for affordable rent. In addition, homeowners are seeking alternative options in order to offset the cost of a home mortgage. Companion units can provide an immediate solution to the region’s housing supply crisis.”

Perez said, “Unfortunately, limited housing supply paired with limited construction of affordable for-sale housing units has put a severe strain on lower and middle class families. The ‘missing-middle’ forces families seeking the American Dream to make tough decisions to live on tight budgets or move out of the region. Making it easier to build companion units will help create options for more affordable homeownership as well as increase the supply of affordable housing units in our region.”

Granny flats, or companion units, represent perhaps the easiest and quickest way to provide additional affordable housing options to local residents. When it comes to housing that will help all of San Diego, PSAR is in favor of making the rules more streamlined and cutting through the thick red tape of processing the construction of new smaller rental units.

Companion HouseCurrent state regulations allow granny flats up to 1,200 square feet in size. They can be attached to, or built separate from, full-sized homes on the same parcel, and include kitchens, bathrooms, living areas and private entrances. They cannot be sold as individual homes, but they can be rented out by homeowners or used to provide additional living space for family members, friends, students, the elderly, the disabled, or in-home health care providers. Properties must meet all zoning requirements, such as setbacks that meet fire safety and building codes.

PSAR previously assisted the County of San Diego and the cities of Chula Vista and La Mesa with the creation and formation of ADU regulations.

PSAR members worked closely with the City of Chula Vista to reduce ADU fees and streamline their regulations. In the East County, following input from PSAR, La Mesa’s set of regulations for granny flats will, in some cases, enable the city to provide more options than do state requirements.

Meanwhile, at a County Board of Supervisors meeting held earlier this year, the Supervisors were considering a modification to their ADU code to require owner occupancy for an additional building on a lot, which PSAR recommended against. Fortunately, the Supervisors decided to remove the owner-occupancy requirement following PSAR testimony from Tracy Morgan Hollingworth, PSAR’s Government Affairs Director.

“I don’t know of any other local real estate organization that has given their support to these local jurisdictions like PSAR has,” said Robert Calloway, 2019 PSAR President. ”I’m very proud that these government bodies have turned to PSAR for assistance and agreed with our recommendations.”

Topics: Market Information, Marketing, Industry

It took 2 weeks to sell a home in May

Posted by Rick Griffin on Jun 28, 2019 3:55:59 PM

It took two weeks to sell a home in May

San Diego County’s housing prices in May were relatively flat in a year-over-year comparison, as were home sales and prices, according to the latest housing market report from the California Association of REALTORS® (C.A.R).

The median price of an existing single-family home in San Diego was $650,000 in May 2019, compared with $649,000 in April 2019, a difference of only 0.2 percent, and higher by 1.6 percent in a year-over-year comparison with the $640,000 figure from May 2018.

The San Diego County home sales total in May 2019 was 7.9 percent higher from April 2019, but only 0.2 percent higher than May 2018.

Statewide in May 2019, California’s median home price edged higher to another peak for the second straight month as lower interest rates helped bolster home sales. The statewide median home price reached another all-time high in May, hitting $611,190. It was a 1.4 percent increase from the $602,920 median price registered in April 2019, and a 1.7 percent rise from the $600,860 price in May 2018.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 406,960 units in May 2019, according to information collected from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the May pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

May’s statewide sales figure of 406,960 represented a 2.6 percent increase from the 396,780 level in April 2019 and a 0.6 percent decrease from home sales in May 2018 of 409,270. Sales rose above the 400,000 benchmark for the first time since July 2018 and reached the highest level in 11 months, while the year-to-year sales dip was the smallest in 13 months.

“The lowest interest rates in nearly a year and a half, no doubt, have elevated housing demand as monthly mortgage payments have become more manageable to home buyers in general,” said C.A.R. President Jared Martin. “The state’s housing market remains soft, however, as home sales continue to lag behind last year’s level for more than a year now.” 

“While lower interest rates have spurred buyer demand in recent months, they also have played a role in ongoing price hikes,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “Buyers could offer higher prices without hurting their bottom lines and maintain the same level of affordability, as rates remain on a downward trend. With mortgage rates expected to stay low in the upcoming months, home prices may inch up further for another month or two before cooling off.” 

Other key points from the May 2019 resale housing report included:

-- Home prices increased in all counties in Southern California, except for Ventura, which dipped 1.6 percent.

-- Active listings in May 2019, which have been decelerating since December 2018, continued to climb from the prior year, increasing 7.4 percent from a year ago. It was the 14th consecutive year-over-year increase but also the first single-digit gain since last June.

-- The Unsold Inventory Index (UII), which is a ratio of inventory over sales, was lower in May than April’s level, suggesting that the typical seasonal pattern of rising home sales are beginning to play out this year. The UII was 3.2 months in May 2019, down from 3.4 months in April 2019 but up from 3.0 months in May 2018. The index measures the number of months it would take to sell the supply of homes on the market at the current sales rate. The jump in the UII from a year ago can be attributed to the mild sales decline and the sharp increase in active listings.

-- The median number of days it took to sell a California single-family home is increasing. Time on market fell from 21 days in April 2019 to 18 days in May 2019 as the homebuying season got underway. It took a median number of 15 days to sell a home in May 2018. Meanwhile, in San Diego County, it took only two weeks to sell an existing single-family home in May 2019. The median number of days a home remaining unsold on the market stood at 14 days in May, compared with 17 days in April, 19 days in March, 22 days in February and 13 days in May 2018.

-- The statewide sales-price-to-list-price ratio was 99.3 percent in May 2019, compared to 100 percent in May 2018. Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

-- The statewide price-per-square-foot average for an existing, single-family home statewide reached $292 in May 2019, up from $286 in May 2018. The May 2019 figure was the highest level since late 2007.

-- The 30-year, fixed-mortgage interest rate averaged 4.07 percent in May, down from 4.59 percent in May 2018, according to Freddie Mac. The five-year, adjustable mortgage interest rate increased in May to an average of 3.65 percent from 3.79 in May 2018.

In other recent real estate and economic news, according to news reports:

-- According to real estate tracker CoreLogic, the San Diego County median home price stayed at $570,000 in May, the same as it was last May. Home prices reached a peak in August 2018 of $584,750, but prices have mostly leveled off as sales have started to decline.

-- According to the most recent S&P CoreLogic Case-Shiller Indices, home prices in San Diego County rose 0.5 percent in April, after a 1.1 percent increase in March and 1.0 percent rise in February. Prior to February, local home prices had declined for six straight months. It was the first time since 2012 for annual home price gains in San Diego to be below 1 percent. Because of the six-month downward trend, San Diego home prices are up only 0.8 percent over the past year, compared to the national average of 3.5 percent. The nationwide 20-city composite posted a 2.5 percent year-over-year gain in April.

-- According to Redfin, San Diego County had the third lowest homeownership rate for single mothers in the U.S. in 2017. In the latest figures available, only 22.4 percent of single mothers owned a home in San Diego County in 2017, according to the report. This is compared to an overall San Diego homeownership rate of 53 percent.

-- According to ClosingCorp., a San Diego-based provider of residential real estate closing cost data, the average closing costs on a home purchase in California last year was $6,765, nearly $1,000 more than the national average. The report assumed an average single-family home sales price between $600,000 and $700,000 and included taxes. The average closing cost without taxes was $5,284. The national average home closing cost in 2018 was $5,779 including taxes, and $3,344 excluding taxes. The average closing costs with taxes works out to slightly more than 1 percent of the sales price.

-- According to the 2019 Home Affordability Report, on a nationwide basis, it takes 14 years to save for a 20 percent down payment on a median price home for those earning the median income. In San Diego, it takes 31 years. The least affordable cities with rankings of 30 years or longer include Boston (30 years), San Jose and San Diego (31 years), Miami and Manhattan (36 years), Honolulu and San Francisco (40 years) and Los Angeles (43 years).

-- According to Zumper, an online rental company, San Diego was the 11th most expensive U.S. city for renters in June, with a typical one-bedroom apartment going for $1,710 per month. The monthly payment figure for June was actually 7.7 percent lower than the same month a year ago.

-- According to Qualify of Life Dashboard, a research company, the quality of life in San Diego is improving in six areas, but declining in four. The six areas of improvement include air quality, electricity use, electric vehicles, employment, entrepreneurship and renewable energy. The four areas of decline include housing, traffic congestion, waste and water use.

-- First American Financial Corp.’s national mortgage loan application defect index declined for the first time in eight months in April. The report still found the defect index was up by 11 percent year-over-year, however, indicating there is plenty of room for improvement. In contrast to the national statistics, San Diego saw its mortgage defects decline by 4.3 percent in a year-over-year comparison.

-- San Diego County’s unemployment rate fell to 2.8 percent in May, matching the county’s lowest unemployment rate for any month since at least June 2017, according to the California Employment Development Dept. The county’s unemployment rate fell two-tenths of a percent month-over-month, from a seasonally adjusted 3 percent in April to 2.8 percent last month. At this time last year, the county’s unemployment rate also fell to 2.8 percent before spiking above 3.5 percent in June.

Topics: Market Information, Industry

SentriLock a psar service, just made your job A bit easier.

Posted by Richard D'Ascoli on Jun 27, 2019 10:49:20 AM
 

The new SentriKeyTM Real Estate app is now available, and we think you're going to love it!

SentriKey Real Estate App
 
 

The app is an updated version of the SentriSmart® mobile app and it features a new look, clearer prompts, and an action-based layout so you can perform key tasks in just seconds. You can download it now at Google Play or the App Store, or just go to the new icon on your phone to get started if your device is set for automatic updates.  

Now, with just a few clicks in the app, you can easily:

  • Open the key compartment
  • Remove the shackle
  • Find, sort and review access reports
  • Grant secure temporary access
  • And much more!


Android users will be delighted that the app features enhanced Bluetooth® technology to improve Android connectivity.

Check out our webinar video that provides a quick overview of the new app and its enhanced features. You can also review our iOS User Guide or Android User Guide for more information.

SentriLock just made your job easier with the SentriKey Real Estate app. And we think you’re going to love it!

Topics: Announcements, PSAR Benefits, Industry

Sacramento Politicians Missing In Action on Housing Supply Crisis

Posted by Robert Calloway on Jun 21, 2019 4:47:38 PM

House

By Robert D. Calloway
2019 PSAR President

One of the most serious threats to our state’s future is lack of housing supply. This is the root of the housing crisis. With every delay to address the root cause of the crisis, it means the more we deny hard-working Californians the quality of life they deserve. Our state’s legislators have spoken with great passion about solving the housing crisis. They make dramatic-sounding statements about how housing is the most critical issue facing California. Yet, those same lawmakers are missing in action and haven’t been willing to make the tough votes to move forward policies that advance a solution.

Many of us were disappointed at our Sacramento politicians and their recent delay until next year of a Senate bill that would have remade California’s zoning laws to increase the housing and apartment development around major transit hubs and job centers. The Pacific Southwest Association of REALTORS® (PSAR), as well as the California Association of REALTORS® (C.A.R), were proud to support SB 50, which would have required a certain portion of affordable units, ensuring the new housing would help all Californians. But, the bill was stalled in the Senate Appropriations Committee leading to the decision to hold SB 50 until 2020, apparently due to opposition to its provisions that would override local zoning laws.

While Capital politicians display their reluctance to do what we elected them to do, California residents continue to suffer. A recent survey from the Public Policy Institute of California revealed that 52 percent of California adults and 45 percent of likely voters say their housing costs are causing financial strains, particularly 67 percent of renters.

California is at a tipping point of choosing a future that denies our children the same housing opportunities we’ve had. Inactivity by the legislative leadership is pointing to a future that will force the next generation to make the difficult, gut-wrenching decision of whether to stay in California with a poorer quality of life or move out of state to afford a decent place to live. Californians deserve a place to call home without worrying about putting food on the table for their kids. We expected our political leaders would be willing to take bold action to solve this man-made crisis, even at the risk of their political future. But, there has been no discernable progress on eliminating obstacles, including burdensome regulations, which are hindering more housing construction.

Gov. Gavin Newsom spoke to our members at a recent CAR meeting. In his speech, he admitted that we don’t have enough housing supply to meet the demand. He pledged millions of new homes during his campaign for governor last year. Unfortunately, our elected lawmakers in the state houses are not joining the governor in prioritizing action to solve the supply crisis. Time is running out to protect the opportunity for all Californians to continue calling the Golden State home.

Topics: Industry

NOTICE TO HEMPHILL SETTLEMENT CLASS

Posted by PSAR Communication on Jun 19, 2019 2:04:01 PM

You do not need to take any action related to this notice.  There is no class action settlement to opt into at this time.  This communication is to notify you of a court decision that affects the distribution of MLS in San Diego County.

If you paid charges to, subscribed to, or participated in the Sandicor MLS between January 1, 2000 and September 23, 2004, then you may be a member of the Settlement Class Hemphill v. San Diego Association of Realtors, et. al., Case No. 04-cv-1495 BEN (JMA) (S.D. Cal.) (“Hemphill”).  Please refer to the previous notice issued to the Hemphill Settlement class on September 11, 2018, found here: [link].  The information and definitions in that notice are incorporated here.

This communication is to notify the Hemphill Settlement Class that the Court has approved the proposed modification of the permanent injunction in Hemphill, as requested in the parties’ joint motion.  The following provisions are now stricken from the Hemphill injunction to allow for the new distribution structure in the SDAR settlement:

  1. Sandicor shall unilaterally determine and advise each of the respective Association Defendants [SDAR, NSDCAR, ESDCAR, PSAR and COAR] of the amount Sandicor will charge that Association Defendant for providing Sandicor MLS Data to that Association Defendant.
  2. Each of the Association Defendants shall unilaterally determine the amount it will charge to each user of the Sandicor MLS who has heretofore or who hereafter subscribes to, or participates in, the Sandicor MLS, at or through that given Association Defendant.

Paragraph 6 of the Final Judgment has been amended to read as follows:

  1. Each Settling Defendant, and their respective successors-in-interest, is enjoined from acting in concert with any other person or entity, directly or indirectly, to fix, raise, establish, maintain, set or coordinate the price or amount to be charged or terms of service for MLS-related services, data, data access, support services or other goods or services. 

 

MLS users in San Diego County will now have a choice of either subscribing to CRMLS, through NSDCAR or PSAR, or to SDMLS.  This will promote competition in San Diego County, which has had a single MLS (Sandicor) from 1991 to the present.  All parties involved fully support the details of the SDAR settlement.

If you would like to review the Court’s order approving this modification to the Hemphill injunction, or have any other questions, please contact Dan Mogin, dmogin@moginrubin.com, 619-687-6611

Topics: Industry

REALTORS® Empowered by PSAR, Making a Difference in D.C.

Posted by Rick Griffin on Jun 7, 2019 4:18:29 PM
o-CAPITOL-DOME-FLAG-facebookLegislative advocacy remains a top priority at PSAR. Association leaders are active in empowering REALTORS® to make a difference by advocating with legislators and government officials in support of private property rights, economic prosperity, property investment and homeownership.

When REALTORS® and affiliates speak in solidarity with one voice and work together with elected officials, then powerful alliances and strong communities can be formed resulting in a vibrant business environment and success in a free enterprise system.

Recently, several PSAR members went to Washington, D.C. to join thousands of other real estate professionals for the National Association of REALTORS® Mid-Year Legislative Meetings and Trade Expo. In his opening address, NAR President John Smaby told attendees that thousands of REALTORS® showing up at the nation’s capital sends a powerful message to politicians. “We mean business,” Smaby said. “Our business is not Republican. It’s not Democrat. My friends, we are the REALTOR® Party,” referring to NAR’s lobbying arm. Attendees cheered and applauded.

NAR is the single largest real estate trade group in the U.S., with nearly 1.3 million members, and widely considered one of the most effective advocacy organizations in the country. It is the second largest organization in terms of lobbying spending, behind the U.S. Chamber of Commerce. During the recent 2018 midterm elections, NAR poured $14.4 million into supporting 10 candidates, including six Republicans and four Democrats.

NARTripMay2019CongressmanDuncanDHunterFotoAmong PSAR members who made the trip: Robert Calloway, 2019 President; Robert Cromer, 2019 president-elect; Bob Olivieri past president and Federal Political Coordinator and Nikki Coppa, past president; and, Richard D’Ascoli, CEO. Nikki also serves as a NAR Director appointed by PSAR, as well as 2019 Vice Chair of the NAR Risk Management Issues Committee.

Activities on the trip included meeting with San Diego members of Congress, including Duncan D. Hunter (R-50th,) Juan Vargas (D-51st), Susan Davis (D-53rd), Scott Peters (D-52nd) and Mike Levin (D-49th), as well as listening to President Trump, who became the first sitting U.S. President to speak live at the NAR event since George W. Bush in 2005.

“The congressmen were very open and receptive to the issues we brought to them,” said Robert Calloway. “They were knowledgeable about the things we were talking about. It was good to have a dialogue with them.”

Robert and Nikki also heard Mr. Trump’s speech. “The President is a real estate guy who understands our business,” said Robert. “He knows about over-burdensome regulations that can hinder land development and the bureaucracy that prohibits us from moving forward with addressing the housing shortage.”

“It was incredible to see the change and preparation necessary to have a live event featuring the President of the United States,” said Nikki. “One thing that really stuck with me was his comment about how special REALTORS® are.” Nikki said she was impressed with the President’s comments about the trustworthiness of REALTORS®.

NARTrumpSpeechFotoFromInmanAccording to a White House transcript of the speech, Mr. Trump said, “In what business do you have where you’re selling your home, and you leave the key under the mat so the broker can take anybody they want, even though you’re going to be away for three weeks, right? How many people trust people? You would only trust a great realtor to do that, right?”

During the roughly one-hour speech, Mr. Trump announced the end of steel and aluminum tariffs imposed on Mexico and Canada and discussed a wide range of issues including tax reform, regulation cuts, opportunity zones and unemployment.

Mr. Trump also said, “I’m honored to be here with the hardworking men and women who help millions of families live the American dream. You have some tremendously talented people in this room. I know this business well. I love this business. It’s in your blood. And, you have people who can do a job that very few people can do.

“When a young family needs to grow, when a new job sparks a new adventure in a brand, new beautiful city, when parents want to find the right neighborhood and schools for their children, Americans put our trust in you, our great REALTORS®. And that’s true.

“Home is where our hearts are. And all of you, as Americans, you find a home for the ones that you love the most. So, today, I want to thank all of you. This is a time of extraordinary opportunity for our country, And, as I said, I think our country is doing better now than we’ve ever done before, as an economy. And I think it’s going to get even better.”

NAR's invitation to speak, did not mean the real estate trade group would be endorsing Trump’s re-election. NAR said it does not endorse presidential candidates or donate to presidential campaigns through its Realtors Political Action Committee (RPAC). NAR said it has had a longstanding practice of inviting sitting presidents to speak at its annual conferences and 10 have taken the trade group up on its offer.

NARTripMay2019CongressmanMikeLevinFotoBob Olivieri said he was pleased that Congress extended the Federal Flood Insurance Program (NFIP) until Sept. 30 while he was there in Washington, D.C. While NFIP isn’t a household name, it’s often the only flood insurance available in a given market. That’s important, because if a property is in a 100-year floodplain, lenders will typically require flood insurance as part of the mortgage approval process. This isn’t just an issue for waterfront homes or homes in the direct path of hurricanes. Many homeowners in San Diego County who live near large storm drains or drainage channels are required to have flood insurance. More than 5 million homeowners in 22,000 communities nationwide rely on the NFIP to provide flood insurance.

“The one issue at the top of our list, the State and Local Tax Deduction (SALT), is supported by most of the U.S. representatives who we talked to,” said Bob. “The ideas being tossed around are doubling the present $10,000 deduction limit for married couples, raising it to $15,000, and doubling it for married couples or eliminating it all together, which is not probable. Also, we would like to see the SALT limit and deductible mortgage interest cap indexed to inflation. This has a lot of support and puts those limits in line with other limits in the tax code.”

Also, during the PSAR trip to Washington, D.C., the House passed by a vote of 236-173 the Equality Act, which would broaden the definition of protected classes to include sex, sexual orientation and gender identity to characteristics protected by the 1964 Civil Rights Act. NAR was a strong advocate for this bill which strengthens fair housing.

Topics: Industry