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CALL C.A.R.'S TECH HOTLINE FOR FREE, LIVE HELP FROM
TECHNOLOGY EXPERTS C.A.R.'s Tech Hotline offers free,
live help from real estate technology experts -- toll-free
-- at (800) 773-8630. Available Monday to Friday from 9 a.m.
to 5 p.m., the C.A.R. Tech Hotline has answers to questions
about computer operating systems (such as Microsoft Windows,
Macintosh, or Palm); popular software, including Top Producer®,
FileMaker, Microsoft's Office suite, Internet browsers, FrontPage
and others; Internet access; e-mail applications; and more.
(MLS hardware or software is not supported by the hotline.)
C.A.R. ACCEPTING POLITICAL CONTRIBUTIONS ONLINE
Every year thousands of bills are introduced in the state
legislature that impact the real estate industry. It is vital
that REALTORS®' interests are represented at all levels of
government, and to do that C.A.R. relies on contributions
to its Political Action Committees (PACs). These PACs help
support local, state and federal candidates who represent
members rights and support members issues. C.A.R. has now
made it easier for REALTORS® to make contributions that could
make a difference for your industry. By following the link
below, you are a few mouse clicks away from helping C.A.R.
support candidates who will stand up for your industry.
LOAN APPS DECLINE 9.2 PERCENT The Market
Composite Index of mortgage loan applications, a measure of
mortgage loan applications, stood at 658.2 for the week ending
Oct. 8, a decrease of 9.2 percent on a seasonally adjusted
basis from 724.8 one week earlier, according to a report released
today by the Mortgage Bankers Association (MBA). On an unadjusted
basis, the Index decreased 9.2 percent for the week ending
Oct. 8 compared with the previous week but was up 0.7 percent
compared with the same week one year earlier. The refinance
share of mortgage activity decreased to 44.5 percent of total
applications from 47.1 percent the previous week. The adjustable-rate
mortgage (ARM) share of activity increased to 34.9 percent
of total applications from 33.9 percent the previous week.
NEW NHD LAW TO TAKE EFFECT ON JAN. 1, 2005
Governor Schwarzenegger recently signed into law Assembly
Bill 920, legislation sponsored by C.A.R. which makes minor
but beneficial changes to the Natural Hazard Disclosure Statement
(NHD). Specifically, AB 920 benefits REALTORS® by changing
the NHD to enable a seller and his or her agent to disclose
that the information in the NHD was prepared by a third-party
company as a "substituted disclosure," and not by the seller
or agent. AB 920 streamlines the NHD law without significantly
impacting REALTOR® practices. Unfortunately, AB 920 has been
incorrectly characterized by some disclosure providers and
other private interests as including a higher standard in
selection of disclosure companies by real estate professionals
and increasing liability for real estate agents. This is not
the case; if anything, the bill reinforces the responsibilities
of the disclosure companies making these substitute disclosures
and requires them to sign their own work. To assist REALTORS®
in understanding how AB 920 changes the NHD law, C.A.R. offers
a side-by-side comparison chart detailing disclosure laws
as they currently exist, and as they will exist after AB 920
takes effect on January 1, 2005.
C.A.R. Newsline is published by the CALIFORNIA ASSOCIATION
OF REALTORS®, a trade association representing more than 135,000
REALTORS® statewide.