SRCAR Encourages your Support of AB 1098.

On Friday, August 30, the legislature passed AB 1098, a bill that would reinstate VLF funds to the four newest cities in California, including Menifee and Wildomar. We encourage you to download the attached letter of support and email it to the following people. The Governor could make a decision on this measure at any time so time is of the essence.

Thanks to Senators Anderson and Emmerson and to Assemblymen Jeffries and Nestande for their affirmative votes to move this bill forward. 

SUPPORT letter for AB 1098 

nancy.mcfadden@gov.ca.gov,

gareth.elliott@gov.ca.gov,

anna.pozdyn@gov.ca.gov ,

gavin.newsom@ltgov.ca.gov

http://gov.ca.gov/m_contact.php


2010 Recap Realtor Report

If you click on that little red Realtor Report just above the chart, you’ll get to a slightly larger version of the report which will be easier for your old eyes to read. You’re welcome.


City Manager panel welcomes Realtors to our new home.

Yesterday our Association held our inaugural event in our brand new home. We closed escrow back in March and have been doing the TI’s  since then  and completed our move just last week. There’s still a couple areas under construction and we’ll bring you more photos when we’re all done.

mgrBut timing presented a terrific opportunity for our association to acquire a new facility, to own our own home free and clear and have a great place for our members to meet, to learn and to shop. As I tell folks, it’s always a good market for somebody and in this case, what was a bad market for the Jaguar dealer that previously owned the place turned out to be heaven-sent for Realtors. Big facility, lots (but never enough) parking, nice high-tech gadgetry, a huge meeting room with food prep facilities that can be rented out – a win-win for SRCAR.

mgrSo for our kick-off event, we did an RAF fundraiser featuring a panel of four of our local city managers moderated by yours truly. Temecula’s Shawn Nelson, Murrieta’s Rick Dudley, Menifee’s Steve Harding and Wildomar’s Frand Oviedo joined us for the morning providing city updates and fielding questions from over 150 Realtors.

mgrWe started the morning with a breakfast put on by our affiliates – including fresh-made strawberry waffles by the one and only Billy McDougal, eggs, sausage & bacon prepared by Judy Edgerton, plus fresh fruit, muffins, juices and coffee from our terrific support team of affiliates. Waffles were so popular we set up back-up waffle irons in the board room to meet demand.

mgrThe facility seats nearly 200 at tables, well over 300 in conference seating. The front of the room features two large projection screens to present slides, overheads, video or live feed directed from the media center. There are also 55″ screens strategically placed in the lunch room, the board room and behind the front desk so live events can be played throughout the facility, webinars can be conducted or calendars of coming events and other promotions can be played during normal business hours. For us that’s all pretty cool stuff.

mgrAs I noted in my remarks, we are indeed fortunate to have the city managers in place we do. With 5 cities in close proximity, the potential is there (and has been in the past) to compete for housing, compete for businesses and work counter-productively to the well-being of the region. Our city managers and councils have adopted a more cooperative mode the past few years understanding that each location may be a better fit for one particular venue and that a win for one is a win for our region.

mgrEach Manager gave a 15-20 minute overview of where their city is financially, what they have planned, how the housing crisis has both hurt and helped them, how they’re coping with budgetary restrictions, how they’re working with businesses and attracting new jobs to the area. The Managers were uniformly upbeat believing we’ve been through the worst for our area, we’ve adjusted to that decline and are poised to benefit from the pending up cycle. With continued strong demand for housing, inventories of 3 months or less and stable to slight price appreciation for the past 18 months, they are well supported in their idea that, at least for us, the worst may be over.

Questions from members covered a range of topics from healthcare to builder fees to infrastructure improvements. Our cities continue to move forward with civic projects and substantial highway improvements funded by local redevelopment fees because – as one manager put it, if we don’t use it the state will just steal it – as they have done the past couple years.

mgrA great morning was capped by an opportunity drawing including a flight over the valley, a day at Disneyland and an iPad. Everyone who attended took home something from the event, some a little more than others. Welcome members to our new Realtor home.


Southwest California March Housing Update

Here’s the March housing update for Southwest California. In addition to unit sales and median price for the past 2 years, I’ve also compared our Q1 sales for 2009 with this year to see where the trendlines are. Overall, sales are up slightly constrained only by lack of inventory. Our median price is holding it’s own – up a little/down a little by city. After 3 years of dropping like a rock, holding steady looks good. There’s also a demand chart showing inventory levels at around 2 months for each of the 6 cities.

However, the chart on sales and inventory by price point illustrate that inventory of homes in the salable range under $400,000 is only about a month. The final chart shows our mix of product with REO’s now comprising less than 20% of our market, down from nearly 90% just 18 months ago. Short sales now make up over 50% of our market but have a failure rate of 70%. So backing out the 5 year inventory of $million$$ plus homes that aren’t selling and the percentage of short-sales that won’t sell – our inventory is in desperate need of an infusion. We wish the banks would either foreclose and sell, or get out of the business.

March Housing Summary – Southwest California

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New Homebuyer Tax Credit in the Works for CA

Schwarzenegger expected to sign new $10,000 California homebuyer tax credit

By Jim Wasserman
jwasserman@sacbee.com

Published: Wednesday, Mar. 24, 2010 – 12:00 am | Page 1B
Last Modified: Wednesday, Mar. 24, 2010 – 10:48 am

Homebuyer tax credits are almost certainly returning.

Sacramento-area buyers can begin claiming $10,000 tax credits starting May 1 under a bill expected to be signed soon by Gov. Arnold Schwarzenegger.

The legislation allocates $200 million for more state tax credits – twice what was offered last year to 10,659 buyers of new, unoccupied homes. The state’s newest housing stimulus will grant $100 million in tax credits to first-time buyers of existing homes and $100 million to anyone who buys a new, unoccupied home.

The state Franchise Tax Board on Tuesday estimated nearly 32,000 homeowners statewide might get the tax breaks. Buyers must close escrow or reserve a credit on or after May 1 and before or on Dec. 31 to qualify.

The bill, AB 183, passed both houses of the Legislature by near unanimous votes. But one local lawmaker, Assemblyman Roger Niello, R-Fair Oaks, voted against it.

“I think it’s a lot of money in a deficit situation that doesn’t have the desired benefit,” Niello said Tuesday, noting that housing prices are still depressed despite earlier credits designed to stimulate the market.

Niello’s view was clearly a minority one, however.

“This tax credit has a proven track record,” said Assemblywoman Anna Caballero, D-Salinas, who authored the bill along with Sen. Roy Ashburn, R-Bakersfield. Caballero said California’s construction industry reported a 39 percent increase in building permits after the first round of tax credits began in March 2009 and proved more popular than expected. It ran out last July 2.

Schwarzenegger spokesman Mike Naple said Tuesday the governor supports the bill “and is expected to sign it.”

The governor signaled his intent Monday while signing two other budget bills. In a signing message, he commended the Legislature for approving the tax credit bill, saying it will stimulate “the housing industry, creating jobs for thousands of Californians.”

Schwarzenegger proposed the housing stimulus in his January State of the State Address to help revive the California economy. The new state tax credit would take effect one day after expiration of a federal $8,000 tax credit for first-time homebuyers.

As was the case last year, buyers won’t be eligible for the full $10,000 credit if they owe the state less than that amount over a three-year period. Buyers can get up to $3,333 off their tax obligation in each of the three years after buying a house.

Buyers must be at least 18 years old and be unrelated to the seller. They must live in the home they buy. First-time buyers are defined as those who have not owned a home in the past three years.

The Franchise Tax Board estimates the tax credit will cost the state $6 million for the fiscal year ending June 30 and $69 million next year. For three years after that, it will cost the state treasury $67 million, $54 million and $4 million.

This year’s legislation is different in that it allows buyers of new homes to reserve a tax credit in advance. A buyer signing a sales contract in June can claim the credit in November when the house is completed, a capital-area building industry official said Tuesday.

“In our parlance, that allows dirt sales,” said Dennis Rogers, a vice president at the Roseville-based North State Building Industry Association. “We’ll be able to build new houses now and get jobs going.”

© Copyright The Sacramento Bee. All rights reserved.

Read more: http://www.sacbee.com/2010/03/24/2629239/schwarzenegger-expected-to-sign.html#ixzz0j9gKwH0N


Open Rancho Springs Hospital Now

srcar

Open Rancho Springs

Greetings,

Please take 1 minute and click on the attached Action Alert. Our community is under-served by medical facilities yet there is a gorgeous state-of-the-art facility sitting fully staffed but unable to open right in the Golden Triangle. State agencies are playing politics with our health care and we need to let them know we’re tired of it.

rancho springsSend a letter to the following decision maker(s):
Director, Office of the Governor – Inland Empire Larry Grable (if you live in California)

Below is the sample letter:

Subject: Open Rancho Springs Medical Center NOW!

Dear [decision maker name automatically inserted here],

I am writing to bring to your attention a potentially dire medical services issue that impacts thousands of lives throughout Southwest Riverside County, an area with a population of approximately 500,000.

The Office of Statewide Health Planning and Development (OSHPD) and the California Department of Health Services (CDPH) are responsible for reviewing and approving applications to construct and license new healthcare facilities in California. Once OSHPD issues a ?Certificate of Occupancy?, it is entered into a process for an array of further reviews by CDPH. The CDPH has the authority to license the new facility for use.

In early November 2008, Rancho Springs Medical Center, located in the City of Murrieta, completed a $53,000,000 state of the art expanded hospital facility; almost five months after completion Rancho Springs still has not received final approval licensing to open the facility. The completed facility is fully, furnished and staffed with 60 medical professionals including nurses, nurse practitioners, and physicians, but unable to provide much needed medical services to an already statistically proven underserved population. The opening of the facility is stalled due to CDPH’s unwillingness to approve the project, directly and negatively impacting the taxpaying citizens of the region.

We are asking for you to join with us to solve this problem. We are hoping to find a solution by curtailing the increasing difficulties with hospital construction and licensing in order to provide medical care and employment in our region.

I urge you to fix this problem here and now so we may prevent similar issues from happening throughout California.

Sincerely,

[Your Name]

Take Action!
Instructions:
Click here to take action on this issue
Tell-A-Friend:
Visit the web address below to tell your friends about this.
Tell-a-Friend!

What’s At Stake:
This letter has also gone out from our partners at the Southwest California Legislative Council.
Campaign Expiration Date:
April 26, 2009


Small Business Call-to-Action.

You may be aware that the Southwest Riverside County Association of Realtors has been a supporting Partner of the Southwest California Legislative Council since its inception. The SCLC, a coalition of Southwest California Chambers of Commerce, Legislative Representatives and business representatives – advocate on behalf of Southwest County Businesses. Each of you, as working Realtors, is the owner of your own business. The SCLC has proven to be an effective lobbyist for local concerns and we have a great dialogue with our local Legislators.

Today the SCLC posted recommendations on the Proposition votes upcoming in May. I’ll cover that in other posts.

They also issued this Action Alert to let your Legislators know how you feel on the Employee Free Choice Act. This is Federal Legislation that has a decidedly un-business friendly twist. While the bill’s impact on Realtors would probably not be significant, I encourage you to consider the impact from a small business standpoint.

Click on the bills for more info and a chance to make your voice heard. You’ll be done in about 12 seconds. Thanks

Take Action

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Each year, the we take positions on issues that impact Southwest California businesses. We also provide you with the tools to play a role in our efforts! Click on a issue below for a brief summary and then submit your letter of support or opposition.

Federal Proposals

Action Needed: Protect Secret Ballot Elections for Southwest California Workers

Two Federal proposals, H.R. 1409 and S. 560, would undermine long standing principles of workplace democracy and fairness and result in employees having less ability to determine if they wish to be represented by a union. It does so by allowing unions to collect employee signatures in public-or so-called “card check” and do away with the secret ballot process.

H.R. 1409 – Employee Free Choice Act

S. 560 – Employee Free Choice Act

We Mean Business

Each year, we hold our State Legislators accountable to issues that impact Southwest California businesses. Find out our Legislators rank on those issues.

Click for the 2008 Vote Record

A Coalition of the Temecula Valley Chamber of Commerce,

Murrieta Chamber of Commerce and the Lake Elsinore Valley Chamber of Commerce

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Prop 8 Tax Relief Expanded back to 2001!

I spoke with Riverside County Assessor/Clerk/Recorder Chief Larry Ward yesterday about Prop 8 property tax reductions this year. He wanted everyone to know 2 things and communicate it to their clients.

  • EVERYBODY who had an adjustment last year will automatically be re-evaluated this year. Last year, you may recall, they re-assessed every property in the county that had been purchased since 2004. Those Buyers will get another swing at reducing their taxes – and with property values off by as much as 30% in some cases, chances are good they will save a few more greenbacks this year.
  • This year – EVERYBODY who purchased a home since 2001 will automatically be re-assessed. They figure County-wide, our prices are roughly back to 2001 levels so rather than being bombarded by individual requests, they’ll just do it by area and year and save everybody the trouble.

I know a number of people I’ve spoken with who got a re-assess last year didn’t feel it represented the current value of their home too acurately – but if you do have a problem with it you can always file an appeal at the time. They’ll notify you of your new value in July and you have until September to file.

Remember – if you do decide to file that Reduction in Value Form, don’t pay anyone up-front to provide the numbers. A reputable Realtor can help you out.

For a complete rundown please visit: The Riverside County Assessor – County Clerk – Recorders office.


Kids Eat FREE – Every Night of the Week.

Everybody enjoys an evening out, a nice dinner with the family after a hard days work, a break from the routing. But the economy has given everybody a little case of the shorts and it’s not that easy to justify a pricey meal out if it means dining out or paying the rent.

So here’s a handy little guide to Realtors and friends that will let you feed your kids for FREE every night of the week. It takes a little planning but it’s worth it. Heck I made it through 2 years of college by knowing where the best happy hours were – $1.50 for a beer and dinner was on the house.

Make it fun, make it an adventure, make it through to the other side of this downturn.

Please feel free to add your own discoveries in the comments.

Disclaimer – Deals can vary by location. Be sure to call first;

Sunday –     IHOP @ 18248 Collier, Lake Elsinore

Monday –     Original Roadhouse Grill @ 26440 Ynez, Temecula

Tuesday –    Pat & Oscars @ 29375 Rancho California, Temecula

Chick-Fil-A @ most locations

Coco’s @ Sun City & Lake Elsinore

Denny’s @ most locations

IHOP @ Temecula Parkway location

Wednesday –  Carnitas Express @ 26900 Newport, Menifee

Carrows @ most locations

Coco’s @ most locations

El Torito @ Temecula & most locations

Thursday –     Carrows @ 24640 Madison, Murrieta

IHOP @ Temecula Parkway

Friday –         IHOP @ Lake Elsinore

Saturday –     Denny’s @ 28915 Rancho California, Temecula

Please post any good deals, two-fers, freebies  – help them help us.