What the 2016 election results mean for Colorado REALTORS®. “Pundits Befuddled!” is how news headlines could have described the 2016 elections. Pundits, and the world, were stunned by Donald Trump’s inconceivable victory. Perhaps even more unexpected than the Presidential race, was the fact that Republicans retained their U.S. Senate majority. As of Friday, November 10th, a few Colorado counties were still...
The TILA-RESPA Integrated Documents (TRID) or Know Before You Owe rule went into effect on October 3rd 2015. What’s happened since? The National Association of REALTORS has released a report that details the new closing process since it went into effect. A few highlights of NAR's Report: (Read the full report here) Highlights: Delayed transactions fell from 10.4% to 8.5%, but cancelations edged...
Due to the overwhelming response from REALTORS® in Colorado and across the country contacting their Senators, we are excited to report that H.R. 3700 passed the U.S. Senate on July 14, 2016! Once again the voices of REALTORS® were heard loud and clear on Capitol Hill and last night we scored a big win! Thanks to you, and more than 139,000 REALTORS®...
CAR’s First-time Homebuyer Savings Act Tax Deduction, recently signed into law by Governor Hickenlooper on June 10th, is garnering nationwide attention as Congressman Coffman introduced a federal version of this bill on Friday. CAR championed legislation creates first-time homebuyer savings accounts which allows a tax deduction for account holders on the interest earned on these accounts. A First-time Homebuyer Savings Account...
H.R. 3700 was passed by the U.S. House 427-0. Despite passing with NO OBJECTIONS, the U.S. Senate has not acted on H.R. 3700. This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by: Removing a burdensome and expensive FHA Condo approval process Reducing FHA restrictions on the number of condos available to homebuyers Permanently streamlining Rural Housing Service loan processing More...
The 2016-2017 CAR Election results have been confirmed by the CAR Chair, two volunteer members, and CAR staff. The following are the results: Chair Elect: Ann Hayes Treasurer: Gary Bauer NAR Director (in order of finish): Alan Lovitt Randy Reynolds Marjorie Genova Southwest District Chair Elect: Carol Ann Peterson Southeast District Chair Elect: Cris Salerno Northwest District Chair Elect: Debbie Laity Northeast District Chair Elect: TBD Mountain District Chair...
Senate Concurrent Resolution 004: Real Estate Transfer Tax For Affordable Housing. We are happy to report that SCR16-004, Real Estate Transfer Tax for Affordable Housing sponsored by Senator Ulibarri (D-Commerce City) died in committee on April 20th. The LPC opposed this bill and CAR gave testimony against the legislation in the Senate State, Veterans, & Military Affairs committee hearing. This concurrent...
The Colorado Association of REALTORS® is now accepting applications for its 2016/2017 Officers and NAR Directors positions. Get involved in CAR Leadership and apply your skills to protect the real estate industry and make REALTORS® more successful through your state association. The Officers and NAR Directors applications are due no later than 5:00 PM on Thursday, April 7, 2016 to participate...
NAR: Internal News Service Special Report Full Report Available Here Board Approves Free Forms For All Members The NAR Board of Directors at its Nov. 16 meeting in San Diego approved a partnership between NAR and zipLogix® to provide a national forms and transaction management benefit to all NAR members. The board heard reports on a number of NAR initiatives—including advocacy successes in 2015. A...
We've known for quote some time that scammers have been targeting real estate transactions, such as this warning from CTMeContracts in July of this year of several attempts to deceive real-estate agents and title company employees into wiring earnest money and/or closing funds into a fraudulent account. But now NAR is delivering warnings about the potential threat. According to panelists at the...