| Government Affairs |
REALTORS® From San Mateo County Converge on the Nation's Capital
Realtors and leaders from SAMCAR joined nearly 8,500 other professionals from across the country in Washington, D.C., the week of May 11 to attend the 2015 Realtor Legislative Meetings & Trade Expo.
While in the nation's capital, local participants met with Congresswoman Jackie Speier, CA 14th Congressional District and Congresswoman Anna Eshoo, CA 18th Congressional District and their staffs on Capitol Hill to ensure qualified buyers and investors in San Mateo County have access to safe and affordable mortgage financing and protect and advance real estate-related policies.
"Attending the Realtor Legislative Meetings & Trade Expo offers Realtors an opportunity to meet face-to-face with decision makers and be heard on the issues that affect the industry and consumers' ability to buy, sell and invest in real estate," said Michael Verdone, SAMCAR President 2015 and Broker/Owner of Economic Concepts . "While meeting with lawmakers, regulatory officials and industry executives last week, we urged support for the issues that are most important to the industry, communities and the clients that we serve."
SAMCAR's meetings with Speier and Eshoo focused on important residential and commercial real estate issues to homeowners and investors including extending the Mortgage Forgiveness Tax Relief Act, which expired at the end of 2014 and prevents distressed homeowners from facing excessive income tax bills on forgiven home loan debt.
SAMCAR's leadership also urged lawmakers to protect commercial real estate related tax provisions, such as retaining 1031 like-kind exchange provisions and making permanent the 15-year depreciation period for leasehold improvements due to rapid advances in building technology. In addition, Realtors advocated legislation to reform patent demand letters, set nationwide data security standards, and pass the Mortgage Choice Act to end discrimination against affiliated lenders.
"More than any other profession, Realtors are enmeshed in the quality of life of our community. We promoted greater access to safe credit, patent reform, mortgage debt forgiveness tax relief, and commercial real estate tax provisions which will help advance policies that strengthen homeownership, property rights and make a positive difference for consumers and our industry," said Verdone.
National Association of Realtors President Chris Polychron, praised the San Mateo County Association of REALTORS® efforts to actively advance the real estate industry and provide a safe and affordable path to homeownership for Americans.
"Homeownership and commercial investment help build strong communities and families. With the current policy debates underway in Washington, it's a critical time for Realtors® to take action and help shape the future of real estate," said Polychron.
The San Mateo County Association of REALTORS® 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 San Mateo County by being the Voice for Real Estate in the county.
