As legislators continue to seek ways to fix the state's budget deficit, California Association of REALTORS®' chief lobbyist says he is concerned that home ownership, as we know it, is being threatened.
"We don't want real estate to bear a disproportionate burden in solving the budget crisis. Threats are becoming more real all the time as the situation gets tighter," Alex Creel, senior vice president and chief lobbyist for C.A.R., told REALTORS® gathered at the California REALTORS® Expo 2011 last month.
Creel said REALTORS® have worked hard to protect home ownership. He cited a number of bills which the state trade association supported, got through the legislature and were signed by California Governor Jerry Brown this year. They include:
Creel urged REALTORS® to keep abreast with political issues involving their business and to contact their legislators when bills that are proposed hurt the industry and home ownership. Creel identified current threats to home ownership. They include proposals to eliminate or reduce the mortgage interest deduction (MID); to place a tax on services, which would include services connected to real estate transactions (escrow, title insurance, inspection, etc.); to impose or raise transfer taxes; and to collect tax withholding on independent contractors.
"Real estate is no powder puff, but it's getting pretty aggressive out there," said Creel. "We want to maintain the course, but it's becoming more difficult in the environment we're mired in."
Approximately 5,200 Realtors from across California attended the California Expo 2011, which was held at the San Jose Convention Center last month.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.