Event Coverage
C.A.R. Updates at District Tour Meetings
At the Los Gatos/Saratoga and Cupertino/Sunnyvale district tour meetings, California Association of REALTORS® (C.A.R.) Region 9 directors updated members on the C.A.R. Winter Business meetings held in Indian Wells last week. C.A.R. Region 9 directors Suzanne Yost, Alan Barbic, John Tripp and Dennis Byron updated members in Los Gatos. Directors Mark Burns, Jeff Bell and Carolyn Miller did the same in Cupertino.
The directors related what takes place at these meetings, how each director is assigned a committee, and the process upon which the C.A.R. Board of Directors and its committees research and formulate policy on all areas affecting the business, professional practices and public policy involvement of California REALTORS®.
An official summary of significant action items adopted by the C.A.R. Board of Directors during the C.A.R. Directors meetings is available at www.car.org. Visit Summary of Action Items in the Meetings & Events section of the C.A.R. website. Here are just some updates and topics discussed at the tour meetings:
C.A.R. to Publish Names and Photos of Code of Ethics Violators
In an effort to make ethics violations and the disciplinary process more transparent, C.A.R. is publishing the names and photos of members found in violation of the Code of Ethics. This information will be published on the members-only section of www.car.org. Local associations will be free to publish the information in their local members-only publications. Local associations will begin requiring respondents named in an ethics complaint to submit a photo at the time of filing a response to the complaint, or allow their picture to be taken before the hearing begins.
Also, local associations will now be asked to seek deposits from parties involved in arbitration.
PACE Loans Discussed
The subject of PACE loans was one of many subjects discussed at length at the meetings, as a number of California cities are either exploring or have approved these loans. A PACE loan allows a homeowner to borrow money to finance energy upgrades. The loan is then repaid as a surcharge on the property tax. The loan travels with the house and is transferred to the buyer upon purchase.
Though PACE loans are a way to finance important energy upgrades, they have some very real risks. If a homeowner takes out a PACE loan without finding out whether their mortgage holder allows them to do so, they could be in automatic default of their mortgage. They may also have difficulty refinancing or selling their home if the new mortgage holder does not allow for PACE loans. Under these situations, they would need to pay off the loan in full before proceeding.
California REALTORS® are being told to be aware of PACE loans. The best practice is full disclosure and speaking with the mortgage holder.
Other issues discussed by Region 9 directors at the C.A.R. updates were the current law regarding the use of nicknames, licensee marketing and the requirements; agents do not have the legal obligation to provide an old appraisal to the next buyer; and the standardizing of C.A.R. forms for counter offers.
Governor Brown at C.A.R. Meetings
A highlight of the meetings was the presence of California Governor Jerry Brown, who installed C.A.R. 2015 President Chris Kutzkey during the C.A.R. Directors meetings over the weekend. The governor addressed C.A.R. directors before the installation dinner, commending the directors on their political involvement and noting that state representatives pay attention to REALTOR® Red Alerts. He thanked REALTORS® for their daily efforts to help strengthen California's economy through the promotion of homeownership. Gov. Brown also noted it will be important to work together to find a solution to the state's housing affordability crisis.
Get Involved - Red Alerts, Legislative Day, C.A.R. Fall Business Meetings
At the district tour meetings the Region 9 directors also thanked members for answering C.A.R. Red Alerts and urged them to continue to do so. "If we don't have a voice, we don't have a choice," Region 9 Chair Carolyn Miller reminded members.
C.A.R. directors also encouraged members to attend Legislative Day on Wednesday, April 22, and the C.A.R. Fall Business Meetings in October. Legislative Day is the day when California REALTORS® travel to Sacramento and meet with their elected officials to discuss critical legislation that can affect REALTORS®, homeowners and private property rights. The C.A.R. Fall Business Meetings will be held October 7-10 in San Jose this year.
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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.
For further information, please email or call the SILVAR office at (408) 200-0100.