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Thank you to those who attended the New Member Mixer on Wednesday, April 16th at the Mountain Meadows Golf Course in Pomona. Guests enjoyed complimentary appetizers and drinks while they networked with fellow REALTORs®, association leadership and staff. CVAR was pleased to see such a wonderful turnout and has received great feedback from many attendees!
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The California Supreme Court has denied review of a Court of Appeal decision that the bond requirement under the home equity sales contracts law is unconstitutional and unenforceable. Schweitzer v. Westminster Investments (2007) 157 Cal.App.4th 1195, review denied March 26, 2008. Under Schweitzer, buyers' agents may represent investors without obtaining the surety bond required under the home equity sales contracts law.
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C.A.R. is OPPOSING AB 2678 (Núñez) which will require a state agency to set up a process to require point-of-sale energy efficiency audits on ALL homes and commercial properties in California. These audits will cost up to $400 for homes and ultimately require point of sale energy efficiency retrofits that may cost THOUSANDS of dollars.
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Looking for an opportunity to showcase your business & connect with thousands of real estate professional without leaving your home or office computer!
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Playing with the BIG BOYS & GIRLS in Real Estate provides a potent and concentrated look into the minds of the country's top residential professionals. Whether you are a novice or a master of real estate sales, their secrets, some shared in common and some specific to individuals, will inspire you and help you take your own business to a "bigger suite with a better view."
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Please update your pending listings on or before the Estimated Sell Date. You must manually change your listing status on or before the Estimated Sell Date or MRMLS Matrix will automatically change the status to “P*” for you, indicating the Estimated Sell Date has passed.
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Governor Arnold Schwarzenegger today issued the following statement after Fannie Mae, Freddie Mac, Wells Fargo Bank, Washington Mutual, CitiMortgage and JP Morgan Chase announced plans to provide billions of dollars of conforming jumbo mortgages in high cost locations. Their actions, which allow for loans as high as $729,750, stem from the new higher federal loan limits
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Don’t miss C.A.R.’s annual Legislative Day in Sacramento on June 4, 2008. Legislative Day is an opportunity for REALTORS® from across California to meet with their state legislators to discuss the issues that directly affect the real estate industry.
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After only two hours of deliberation, the jury unanimously vindicated a buyer's agent accused by his clients of failing to disclose that two other homes in the neighborhood sold for less than what they paid. As a trial court case, this decision in Ummel v. Little is binding on the parties to the case, but has no binding authority for other cases. Moreover, the buyers may file an appeal.
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Mortgage Loan Brokerage
SB 385* Loan Regulation- This new law provides more authority to the Commissioner of the DRE, the Commissioner of the Department of Corporations, and the Commissioner of the Department of Financial Institutions to regulate subprime and other non-traditional mortgages.
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Come join your fellow REALTORS® for a night of food, fun & prizes! The CVAR Scholarship Committee presents Bingo Night! Admission is only $25.00 which includes dinner, beverage & 1 bingo card. All proceeds go to benefit the CVAR Scholarship Fund which provides scholarships to High School and College students who are pursuing a career in Real Estate. To make a donation or to purchase event tickets, please contact Amanda Duff at aduff@cvar.net.
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CVAR would like to congratulate our very own Immediate Past President Linda Moulder-Olin on her “2008 Woman of Distinction” award. This prestigious award, presented by Assembly Member Bill Emmerson, honors women in the 63rd Assembly District who have exemplified outstanding service and dedication to their community. Linda, along with 62 other “Women of Distinction” recipients, was recognized at the Assembly Member’s 4th annual luncheon, held at the Doubletree Hotel in Ontario on March 27, 2008.
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REALTORS® know very well the importance, and the complexity, of the various state and federal disclosure laws governing real estate transactions in California. Sales Disclosure Chart for REALTORS® is designed to provide REALTORS® and their clients with an easy-to-use reference guide for determining the applicability of these laws to the sales transactions most commonly handled by real estate licensees.
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A general understanding of the Home Equity Sales Contracts Law (California Civil Code Sections 1695 through 1695.17, referred to as HESC below) is essential for any real estate professional who handles sales of residential properties. This law applies only if ALL four of the following conditions are met:
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Governor Arnold Schwarzenegger sent a letter to key Congressional leaders urging the permanent increase of federal loan limits, which can help reduce home foreclosures and give more Californians the opportunity to experience homeownership.
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