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REALTOR®: C.A.R. president visits Silicon Valley, stresses advocacy for homeownership rights

Wednesday, July 25, 2012

California Association of REALTORS® (C.A.R.) President LeFrancis Arnold met with members of the Silicon Valley Association of REALTORS® (SILVAR) in Menlo Park this week. Meeting California REALTORS® across the country is part of his duty as president of the state REALTOR® association, said Arnold.

Arnold said Silicon Valley is fortunate because compared to other parts of the state because the region has not been as hard it by the housing downturn. He has observed the growing interest in residential real estate here from foreign buyers.

"The housing industry is one of the most important assets in California," said Arnold. Proof of this is in the billions of dollars of residential real estate purchased by international investors. Arnold noted the top foreign buyers come from Canada, China, Mexico and Great Britain, and they are looking at properties in California.

"No immigrant comes to America with a desire to be a tenant. They dream of homeownership," said Arnold. "They come to America to own a piece of the rock."

Global real estate is growing in importance, said Arnold. Foreign investors and immigrants create opportunities and bring diversity not only in housing, but also in the election process. It is important that everyone, regardless of race, is given the opportunity of homeownership. Arnold said another part of his duty as C.A.R. president is to meet with legislators and deliver this message. It is what C.A.R., SILVAR and the National Association of REALTORS® (NAR) do at the state, local and national levels.

As advocates for homeownership, REALTORS® fight legislation that will negatively affect homeownership. Arnold stressed advocacy for homeownership needs to continue because the threats are very real. Proposals to impose transfer taxes and discussions regarding eliminating or reducing the mortgage interest deduction (MID) will hurt homeowners.

Arnold said REALTORS® at the local, state and national level will continue to work as a team and fight legislation that hurts the American Dream of homeownership. "Each of us has a role to play. We have to continue to fight for homeownership rights," Arnold told Silicon Valley REALTORS®.


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.

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