Posts - page 17

Think your clients may have overpaid on flood insurance? FEMA has released information on how refunds for over payments will be determined and issued.

Disclosures provide liability protection for REALTORS®. The CFPB recently announced a $500,000 fine to a real estate firm for inadequate disclosure language in an affiliated business disclosure.

SB 1439 (Ellis Act Reform) must pass out of two Assembly committees prior to the end of June or the bill will die.

In a recent proposal from San Francisco, if you buy a distressed property, fix it up and sell it (not all that uncommon), you could get slapped with a tax for making a profit.

You may have noticed that over the course of 2014 SAMCAR's branded look has undergone a bit of an update. And, in June 2014, we officially launched a brand new website. We're proud of the process we used to execute a complete visual re-branding while simultaneously re-designing the Association Website, so we wanted to take a chance to explain how we got to where we are at today and where we'll continue to go.

Learn about the new features on samcar.org, where to find information and how to use your new responsive Association website.

In a sweeping move to improve the professionalism of associations of REALTORS® across the country and the level of service they provide to members, the NAR Board of Directors last week passed a set of mandatory standards that touch on every aspect of association operations.

A forthcoming FHA rule has the very real possibility of making mortgage financing more expensive (maybe even impossible) for large numbers of buyers and sellers around San Mateo County and the whole country.

Foster City has approved a smoking ordinance applying to rental properties, learn more about the details and the effects on REALTORS® and property managers.

It's a start! FHFA Director Mel Watt announced that FHFA would step back from a proposed reduction in conforming loan limits which are currently set at $417,000 (though are authorized for up to $625,500 in high-cost areas of the country such as San Mateo County.)

The REALTOR® Voice is heard at the state legislature, preventing a possible statewide tax of $75 on the recording of all non-sale documents.

Senate Bill 1439 -- Ellis Act Reform -- passed the state senate, with potentially significant impact to property owners and landlords in San Francisco.

SUPRA wants to make you aware of an issue that may affect some eKEY users.

In revamping the tax code, Congress is eyeing three basic approaches to the home mortgage interest deduction (MID): eliminate it completely; limit the deductions for higher incomes; or, have it changed to a tax credit.

Meet Julie S., an art teacher in San Mateo who was able to buy her first home with the help of HEART (Housing Endowment and Regional Trust) and Meriwest Mortgage's first time homebuyer program.

It's a start. Last week, FHFA Director Mel Watt made his first public speech addressing FHFA's strategic plan for Fannie Mae and Freddie Mac, including stepping back from a proposed reduction in conforming loan limits.

Some Peninsula cities continue to aggressively removing Open House signs, placed in the public right of way and give fines for improper placement. Please be aware of city sign ordinances.

Insurance companies have been directed to stop charging full-risk premium rates for flood insurance on older properties sold after May 1, the Federal Emergency Management Agency (FEMA) mandated in a recent bulletin. The bulletin is FEMA's first directive at implementing the Homeowner Flood Insurance Affordability Act, enacted last month to curb escalating flood insurance premiums. The bulletin directs insurers to allow home buyers to assume the seller's premium rate until FEMA issues new rate tables and refunds excessive premiums as directed under the law.

In producing the new RESPA/TILA rule, the Consumer Financial Protection Bureau (CFPB) listened to NAR to nix a broad 3-day waiting period when there are changes to the closing disclosure.

Property owners in flood zones in San Mateo County are likely to get relief under a bill recently signed by the President.

South San Francisco's City Council unanimously rejected a proposed ordinance mandating private property inspections before the city would allow residents to sell their home.

General overview of the various departments that can be found in your city and who to contact for specific information.

Documents from the City of Belmont regarding sewer lateral disclosures.

PRDS is pleased to announce the release of the May 2013 revision of the PRDS Real Estate Purchase Contract (RDS), and is grateful for the many helpful suggestions and recommendations submitted to the Forms Committee by PRDS forms users.