REALTOR Day at the Capitol report for 2018

DO YOU LIKE YOUR JOB? Most REALTORS love what they do and enjoy being a self-employed business owner.  However, did you know that every day there are factors working to ruin your happiness?

Are you totally aware of why we work so diligently to raise funds for RPAC?

When I first started in real estate, I certainly had no idea the extent of the issues that are constantly looming over the industry.  Many lawmaker have the opinion that REALTORS have so much money they can either pay a business license in every city they sell in or that a property owner can afford a transfer tax at the time of sale. These are just 2 of the issues that plague REALTORS and private property owners throughout the country each year.

Knowing what’s happening in your industry and why you are important tot the overall success of the political practices that govern our business, is your first step each and every year to STAYING IN BUSINESS.

LOCAL CONCERN

Affordable housing and lack of inventory for buyers is a problem throughout the state and country.  The median house price in Colorado is now $344,500, with the median rental price at $1800 per month. This is an increase of 7.2% from last year.  Grand Junction will need to develop a plan of action to solve these issues locally, while the state legislators work on the LIMITED GROWTH issues listed below.

STATE CONCERN

This year in Colorado we are facing a ballot initiative on LIMITED GROWTH which involves these concerns:

  • Limit new permits for the total number of all housing units in each of the 10 most populous counties to 1% in both 2019 and 2020
  • Allows every Colorado city, town or county to vote for housing growth moratoriums
  • Specifically applies to front range counties: cities and counties of Broomfield and Denver and the counties of Adams, Arapahoe, Boulder, Douglas, El Paso, Jefferson, Larimer and Weld
  • Does not allow permits between the election November 2018 and January 1, 2019
  • Beginning in 2021 each county would hold a referendum to overturn (meaning most likely 2022 is the earliest opportunity to remove this initiate, if approved)

WINS

At the federal level MID (Mortgage Interest Deduction) has been saved in the new tax bill.  You may not have realized that our usually friendly allies at the Home Builders Association and the Mortgage Lenders Association took different positions, one in support of “losing the deduction” and the other  taking a “no position” statement. That left NAR to fund the fight alone.  Your RPAC contributions worked to save that deduction. Think about what your buyers would have faced if that fight had not been won.

In addition, we were facing a 5 out of 8 change to capitol gains.Again, NAR used your contirution funds to lobby agains t that change and won!

These were HUGE issues for NAR and all of us, as they could have drastically changed private property transactions.

These are what your RPAC dollars go to in order to protect private property rights, and it is imperative we keep up our contributions annually, so the revenue generation specialist legislators do not capitalize on the transfer of real property in a negative way.

There are many levels of contributions available. Your dues bill always has the “FAIR SHARE” amount included, but think about taking the next step.  Be prepared to visit with our RPAC Committee members as they head out to your offices to demonstrate the benefits of being active in RPAC.

No one like politics, but if REAL ESTATE is your profession, POLITICS in now your business!

GET IN THE KNOW AND KNOW WHAT YOU GET!