Government Policy, Real Estate and You! with Liz Recchia

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’s investment arm,  Second Century Ventures and the REACH® Accelerator program. NAR has a portfolio network of tech companies and offers companies who participate in the REACH® Accelerator program access to these companies, MLS’s, associations, and real estate professionals.

The WeMAR Tour of Opportunity Zones bus tour was last week. We had a full bus with commercial & residential REALTORS®, investors, qualified fund managers, attorneys, and developers.

The Arizona Department of Housing has released updated income and rental limits. Can search all the programs or specific programs at www.wemargad.org.

The I-11 cooridor public comment period is open until July 8th. Go to www.wemargad.org to find links to maps, documents, meetings and all the information you need to send in your opinion.

Several cities, counties and the State of Arizona have vacancies on boards & commissions. Go to www.wemargad.org to find links to boards & commissions in West Maricopa, Pinal, Cochise Counties, cities and the State of Arizona.

WeMAR GAD: Advocating for private property rights, the right to private contract and YOUR business!

Song Credits:

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

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 WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 affecting you and your clients. Finally, our lunch & learn guest will be Alan Langston from AZREIA. This is a free event, but we ask you to register so that we have lunch for all.

WeMAR will be asking the City of Surprise to change their ordinance regarding the mandate REALTORS® must carry the Luke AFB map at all times. If you would be interested in this task force, please email or call me.

NFIP Extension – On June 6th, the National Flood Insurance Program was extended to Sept, 30, 2019.

On June 10th, NAR filed an Amicus Brief defending the Department of Labor rules on Association Health Plans.

Last Fall WeMAR interviewed Leslie Pico from Propy.com on blockchain technology in real estate. On June 10th, NAR announced it has invested in Propy.

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

 http://creativecommons.org/licenses/by/3.0

 WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 the impact of Opportunity Zones.  The public comment period closed June 17th. WeMAR has submitted comments. You can read more about the WeMAR public comments and other comments submitted to HUD at www.wemargad.org.

Sun City West continues to have a confused status when it comes to FHA product availability. There is confusion in the market place still. Sun City West Recreation Center’s amended governing documents appear to comply with FHA Free Assumability, but there are questions. WeMAR has written to HUD asking for clarification, and HUD has responded. WeMAR has also written to Sun City West Recreation Center Management.  You can read more about this issue and WeMAR’s communications at www.wemargad.org. If you or your clients decide to communicate with Sun City West, please let me know. You may contact Liz Recchia – Government Affairs Director at wemargad@wemar.org or 623-931-9294.

LIBOR – LIBOR is slated to go away at the end of 2021. Learn more about the language your clients need to look for in their current or new loans indexed to the LIBOR. Find information on the new reference rate, the SOFR (The Secured Overnight Financing Rate).

Join us for our next Government Affairs Advisory Council Meeting on June 25, at WeMAR. We will start the meeting at 10am with a Big Project update, next we discuss issues and new laws affecting you, your clients and real estate. We will close with a one hour Lunch & Learn. Our guest will be Alan Langston from AZREIA (Arizona Real Estate Investor Association). This is a free event for WeMAR members, but we ask you to register so we have seats and lunch for everyone.

Song Credits:

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

 http://creativecommons.org/licenses/by/3.0/

WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 a complete list of all new laws, just the ones I thought would be of interest to most members.

The Governor still has several days to sign legislation transmitted to him in the past few days. In Arizona, the Governor may sign a bill into law, veto a bill or allow a bill to become law without signature. You can check bill status and bills signed into law at https://www.azleg.gov/

You may find a list of the new laws I discuss and others at www.wemargad.org.

 WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

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WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 faster and easier.

The Mayor also discusses trade with Mexico, working with the Ak-Chin Indians and the Union Pacific Railroad.

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

 http://creativecommons.org/licenses/by/3.0/

WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 topics including Flood Insurance, Infrastructure, Opportunity Zones, Mortgage Debt Forgiveness and GSE reform among other topics. Members were encouraged to educate their legislator on who REALTORS®

 are and what they do.

You can read more about the NAR Mid-Year Legislative Meetings at www.wemargad.org. There you will find links to NAR information on these and other topics.

 WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

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WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 at www.wemargad.org.

WeMAR GAD: Advocating for private property rights, the right to private contract and YOUR business!

Song Credits:

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

 http://creativecommons.org/licenses/by/3.0/ 

WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 why REALTORS® decided to start a PAC. You can see a short, interesting video at www.wemargad.org.

Rick Mack has been recording quick 60 second risk management videos, available at www.aaronline.com.

WeMAR GAD: Advocating for private property rights, the right to private contract and YOUR business!

Song Credits:

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

 http://creativecommons.org/licenses/by/3.0/

WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

http://creativecommons.org/licenses/by/3.0/

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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 TPT

HB 2704 – Underground Storage Tank Process

HB 2443 – Property Disclosure Affidavit. Water Disclosure

HB 2114 – County Real Estate Property, Appraisal

HB 2721 – Town Elected Official Term Limits

HB 1030 – Online Notarization

HB 2445 – Residential Rental TPT Notice of Increase

SB 1218 – Beneficiary Deeds

HB 2484 – Grandfathered Irrigation Rights and Container Watering

HB 2569 – Occupational Licensing Reciprocity

HB 2371 – Real Estate Licensing, Nickname

HB 2095 – Agricultural Property Classification Water Reduction

In Arizona most laws take effect 90 days after the end of the legislative session (sine die)

Music Credits:

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

 http://creativecommons.org/licenses/by/3.0/ 

WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

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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 19th HUD released new rules for DPA (Down Payement Assistance) programs

Mortgagee Letter 19-06

FHA Single Family Housing Policy Handbook 4000.1

April 18th HUD release guidance for borrowers with low FICO and high DTI (debt to income ration)

The IRS released additional guidance for Opportunity Zone investment

The White House announced the workflow for their White House Opportunity and Revitalization Council.

Song Credits

WEPA Song Credits: “Wepa” Kevin MacLeod (incompetech.com)

 Licensed under Creative Commons: By Attribution 3.0 License

 http://creativecommons.org/licenses/by/3.0/ 

WERQ Song Credits:“Werq” Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 3.0 License

http://creativecommons.org/licenses/by/3.0/

Learn more about your ad choices. Visit megaphone.fm/adchoices