Real Estate Articles
Over 2,000 California Realtors celebrate 50th Annual Legislative Day
On May 3, members of the Silicon Valley Association of Realtors and the association's California Association of Realtors Region 9 directors joined over 2,000 Realtors from across the state in Sacramento for C.A.R.'s 50th Annual Legislative Day. C.A.R. President Jennifer Branchini and other C.A.R officials addressed the Realtors at the Sacramento Convention Center in the morning.
Stressing the importance of the day, Branchini said, "It's essential that we educate our legislators on how proposed legislation may affect real estate. We're also the voice of those who are not here - our clients, all California homeowners and would-be homeowners."
Special guests State Senate President Pro Tempore Toni Atkins and state Senator Rosilicie Ochoa-Bogh spoke to Realtors. Both legislators underlined the importance of homeownership for all and California's struggle with housing affordability and the state's severe housing shortage.
Atkins is the architect of California Dream for All Program, which allows qualified first-time homebuyers to apply for a 20% down payment loan that does not have to be paid back until the property is sold, transferred, or refinanced. Atkins said the program has been so successful that it reached its cap of $300 million in loans in just 11 days.
"Two thousand California families are now on track to buy their own home, fulfilling their dream to own a home, to have their own home," said Atkins. She is seeking the release of $800 million in funding for the program, $200 million of which was part of $500 million previously budgeted for the program but removed from Governor Newsom's 2023-24 state budget proposal.
"We need to keep this program funded so we can keep the California dream alive for all and build pathways to own a home," said Atkins. "I want to personally thank you Realtors for your partnership to educate and improve equity and affordability. We've got more work to do together. We can do this! Let's get it done."
Ochoa-Bogh, who is a Realtor by profession, said she understands the important work Realtors do. "You help pass meaningful policy for all homeowners. Open door and listening. Use our voice. You have power. Own it and use it."
Speakers at the joint luncheon with members of SILVAR and other neighboring Realtor associations were Melinda Coy, proactive accountability chief with the Housing & Community Development, and Matthew Gelfand, executive director of Californians for Homeownership. Coy and her team are primarily responsible for evaluating Housing Elements submitted by cities and counties across the state and certifying compliance with state law. Gelfand leads efforts to hold cities and counties accountable to state housing law and is actively engaged in legal action across the state to ensure housing laws are enforced.
"We see the lay of the land and densities that could be potentially developed. We're not going to tell them what to do, but we see what their actual commitment and the timeline is. We are big on compliance mode, and we really do rely on comments that we receive in our review," said Coy.
Gelfand noted there have been 20 housing enforcement lawsuits in the past year. Housing Element deadlines are missed. They have not been enforced, which cuts into the period where developers make plans. He noted Daly City and Santa Clara County are the furthest behind in compliance. Settlements involve the city complying with the builder's remedy, which is a big risk for cities. The builder's remedy is a process that essentially bypasses city approval and allows developers to exceed zoning regulations.
"The builder's remedy gets housing built," said Gelfand.
Following the joint luncheon, the Realtors met with their legislators, including Assemblymembers Marc Berman and Gail Pellerin and state Senators Josh Becker and Dave Cortese.
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 email or call the SILVAR office at (408) 200-0100.