Government Policy, Real Estate and You! with Liz Recchia

HUD releases newly approved condo rules:  On August 14, 2019 HUD finally released the long-awaited condo rules. The new rules include a new condo approval process.  The new policies become effective Oct. 15, 2019. You may read the new condo regulations and the updated FHA Single Family Handbook at www.wemargad.org. Update on the two Lawsuits Against NAR -Moehrl v. NARand Sitzer v. NAR Earlier this...

On June 21, 2019 the U.S. Supreme Court ruled 5-4 in an eminent domain case that is sure to have long lasting ramifications, Knick v. Township of Scott, Pennsylvania. The Town of Scott originated an ordinance requiring property with a cemetery must be open to the public during daylight hours. Rose Marie Knick owns 90 acres with an old family cemetery on it. She was sighted for violation of the ord...

VA Loan Denials due to HOA rental restrictions; According to section 36.4363c6, there can be no prohibition or restriction on an owner’s right to lease his or her unit. There are some acceptable restrictions: a requirement that leases have a minimum 1-year term and community age restrictions are two of those restrictions. If your client is selling or considering purchasing in a HOA and has VA bene...

In June 2019, Congress passed, and the President signed, a bill eliminating the VA loan cap. The elimination of the cap was part of the Blue Water Navy Vietnam Veterans Act (HR 299). At one point last summer, it was proposed to raise the VA loan fees to 0.5% for non-disabled vets in order to pay for some the provisions in the bill. NAR sent a letter to the Senate Veterans Affairs Committee basical...

On June 10th 2019 NAR announced they had invested in Propy.com, a blockchain technology real estate platform. What is blockchain technology and how is it impacting real estate? Listen as Leslie Pico, the first real estate agent in Arizona to close a blockchain transaction in real estate, describes this technology and our business. Leslie was our guest at the WeMAR Economic Development Forum - 2018...

In September 2018, Leslie Pico from Propy.com was one of our guests for the 2018 WeMAR Economic Development Forum. Leslie was the first real estate licensee in Arizona to close a transaction using Blockchain technology. We will be posting that conversation later this week. This is perfect timing given NAR's announcement June 10th that they have invested in Propy.com. In this podcast we discuss NAR...

Join us for a free bus tour of Opportunity Zones June 26, 2019. Read about the tour and register at www.wemargad.org. In April Aaron White presented Opportunity Zones in the West Valley. You can see that video at www.wemargad.org. June 25th is our Government Affairs Advisory Council Meeting. WeMAR members may attend for free. We start with a Big Project update, then discuss issues and new laws aff...

WeMAR is hosting a Tour of Opportunity Zones on June 26, 2019, 9am to 2pm. We will take a bus tour and meet with each participating city's economic development team as we tour and learn more about Opportunity Zones. This is a free event, but seating is limited and you must register to reserve your seat. WeMAR will provide beverages and lunch. HUD is seeking public comment asking how to maximize th...

The Arizona Legislature adjourned Sine Die (without a day (Latin)) on May 28, 2019 at 12:58am. The General Effective Date of legislation passed this session will be August 27, 2019, but some laws may have specific effective dates. Check the specific legislation to determine the effective date.  Today, I’ll give you a quick update on bills signed into law by the Governor as of June 1st. This is not...

In part 2 of our conversation with Mayor Price we discuss various organizations the Mayor is a part of and how Maricopa interact with them to bring assets and economic development to Maricopa, as well as influencing state legislation to promote local issues. The Mayor discusses changing the culture of city government, online services and streamlining the process so business can expand and open fas...

Earlier this month WeMAR Leadership, AAR leadership and NAR leadership and staff spent a week in Washington, D.C. for the 2019 Mid Year Legislative Meetings and Conference. As always, NAR provides GAD's and members with information for the Hill Visits. Hill Visits take place mid-week and are opportunities for members to speak with the legislators. This year NAR provided information for members on...

In January 2019 the Pinal Chapter of WeMAR hosted Coffee with the Mayor. Our guest was Maricopa Mayor Price. Learn how Mayor Price went from a financial adviser to Mayor of the booming city of Maricopa. We get updated on big projects and the Mayor's view of economic development, inter-agency and MAP (Maricopa Advocate Program).    Join us next week for part 2 of this interview, or watch the video...

MAG (Maricopa Association of Governments, SEAGO (SouthEastern Arizona Governments Organization, and CAG (Central Arizona Governments) are three of the five Regional Planning Agencies in Arizona. Learn what they are and what they do as they plan for infrastructure, economic development, air and water quality, and gather information and data critical to local planners. RPAC is 50 years old. Learn wh...

As we pass the 100th day of the legislative session, I thought a quick update on bills the Governor has signed would be in order. I have only highlighted bills concerning private property rights, private contract and the real estate industry. Here is a list as of 4/27/19: HB 2485 - Changes to Affidavit of Disclosure HB 2451 - Real Estate License Exemption HB 2027 - Online Lodging Marketplace Local...

HUD Santa Ana visited WeMAR last week. Nancy West and Tom Rose met with WeMAR Task Force members, Board of Directors and GADs from Maricopa and Pinal counties. They gave us updates on policy and guidance processes. Condo Rules - Coming out later this summer Housing Counseling - Updated program will come out later this summer HECM (Reverse Mortgages) are causing a strain because of the losses April...

Refresh your memory on How a Bill Becomes a Law in Arizona by watching the video AAR and I did  a few years ago. The Arizona Legislature is working to complete their task of deciding which bills will make it to the Governor's desk. You can read the bills mentioned in today's podcast as well as read the DC Circuit Court decision on Association Health Plans and the Department of Labor's response. in...

Interest Rates and the Fed. Truthfully, interest rates are the least of a buyer's issues these days when looking to purchase a home. Help your clients gain perspective. The World Wide Web Consortium (W3C) is a private organization who has been working on internet accessibility since the late 1990's. HUD, DOJ and the courts weigh in on website and mobile app accessibility using the W3C metrics. Lea...

There have been a lot of changes in the lending space lately. Some from the courts, some from HUD, some from the CFPB and other regulators. HUD released two Mortgagee Letters in March 2019. Mortgagee Letter 2019-04 eliminates the FHA Inspector Roster. Mortgagee Letter 2019-05 removes the 10-year home protection plan requirement from some FHA loans. The CFPB released its Winter 2019 Report in March...

March 14th I and the other members of the City of Glendale/Glendale Chamber of Commerce contingent continued our visits in  Washington,D.C.  We toured the ASU building. Next we met with Senator McSally and I was able to describe Opportunity  Zones as we experience them along with the challenges of no guidance from Treasury for the entrepreneur part and the late release of rules for the real estate...

Last week (March 11-15, 2019) I was in Washington, D.C. as part of the City of Glendale and Glendale Chamber of Commerce contingent representing business and the city to our elected officials. It was quite an honor and I am thankful to have had the opportunity.  The City and Chamber were interested in firming up relationships with our federal officials and letting them know we support Luke Air For...

There are a lot of big projects popping up in the West Valley. You see them everyday as you drive about, but there are a lot more on their way. This quick update looks at several projects that have closed escrow or broken ground since October 2018. You can read more about these and other projects at www.wemargad.org. Middle Class isn't what it used to be. People see Middle Class differently than t...

WeMAR Government Affairs: We change the conversation. Listen as we describe what it is we do. It's more than showing up at City Council meetings. In fact, we begin our conversation with City Councils, Legislators and State Agencies way before public comment is necessary. Sign Ordinance are one of our most successful. We changed the conversation from inches and fee to Adequate, Visible and Legible....

As most of you know, the Arizona Legislature passed and the Governor signed Arizona's Drought Contingency Plan on January 31st ahead of the Department of Interior's deadline. Within 12 hours, the Department of Interior decided the plan was not adequate but declined to give details. Arizona has until March 4th to solve the delinquencies as perceived by the Department of Interior and is hoping for c...

Earlier this month I was able to meet Nick Monardo of CNN Mortgage at his office in Scottsdale. Nick is a wholesale lender for CNN Mortgage and was guest of WeMAR's a year ago. Nick gives an update on lending, the CFPB and the issues he sees on the horizon. This is part 1 of a 2 part interview with Nick. WeMAR GAD: Advocating for private property rights, the right to private contract and YOUR busi...

January is a very busy month, the Arizona State Legislature comes back into session and everyone is gathering information they need in order to file their taxes by the April 15, 2019 due date. In the quick update we discuss the Arizona State Drought Contingency Planning discussions, Tax Conformity, recent bills introduced at the Legislature and some of the tax reform changes affecting  you, your c...