Many developments have taken place regarding housing since Realtors traveled to Sacramento on Legislative Day in May. Sean Bellach, government affairs field representative and local issues coordinator with the California Association of Realtors, recently updated members of the Silicon Valley Association of Realtors on the latest news from Sacramento about the state's housing affordability crisis, recent legislation, and the state Realtor group's initiative to address California's housing supply crisis and increase homeownership opportunities for Californians.
Bellach said California's housing affordability issue continues to be at the forefront in the state legislature. "It's no surprise that the problem is rooted in supply and demand," said Bellach.
The state Realtor group representative said the state currently needs 180,000 new units each year to keep up with the current housing need, but it has barely built half of that each year. Each year the state has a one million housing deficit; in fact, 45 percent of the new housing units needed to be built nationwide are in California.
Many proposals to address the problem have come out of the state legislature, "some good and some not so good," said Bellach. For its part, C.A.R. has offered suggestions to legislators to alleviate the housing shortage, like streamline the permitting process for developers; fix CEQA; require local governments to implement housing requirements; fund more affordable housing; and defeat bills that discourage the construction of rental housing.
Additionally, C.A.R. was able to gather the required number of signatures to qualify its initiative for the November 2018 ballot. Known as the Property Tax Fairness Initiative, the initiative would remove the "moving penalty" for seniors 55 and older, the disabled, and victims of natural disasters, allowing them to carry their current Proposition 13-protected property tax assessment level to another home of any price, anywhere in the state, any number of times.
Bellach shared the latest information on the following housing-related bills, some of which Realtors lobbied in Sacramento:
AB 943, which would require local measures that "reduce density or stop development or construction," 55 percent of the vote to pass, instead of a simple majority in counties with more than 750,000 population passed by the Assembly, in Senate Committee.
AB 2364, which would have weakened the Ellis Act and deterred property owners from returning to the rental housing business for 10 years, failed.
AB 2368, which would allow for a new remote online notarization system in California was passed by the Assembly.
AB 2618, which would have required real estate licensees to complete a mandatory property management certification program to perform property management services that they are already licensed to provide, failed.
AB 2890, which would require a local government that has not adopted an ordinance to consider a permit application for the creation of an accessory dwelling unit within 60 days, instead of 120 days, was passed by the Assembly.
AB 2925, which would have removed state-imposed limits on how "cause" for eviction is determined and would have allowed local municipalities to define "just cause" locally, failed.
AB 1979, which would have allowed homebuyers to establish a Homeownership Savings Account to purchase a home without paying tax on the interest earned on funds in that account, failed.
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.
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