The U.S. Senate Passes H.R. 3700! Thank You For Your Support!
The National Association of REALTORS just announced that the United States Senate has passed H.R. 3700, the "Housing Opportunity Through Modernization Act," by unanimous consent! H.R. 3700 was designed to include reforms to current Federal Housing Administration restrictions on condo financing. The bill originally passed in the House of Representatives by a vote of 427-0, and after being passed by the Senate is now awaiting signature from the President. Thank you to our members that answered this Call For Action! With your support, it was a rousing success! Keep up to date with CDAR for more information about Calls for Action just like this one, and thank you for your continued support!
"COMING SOON" signs appear to be popping up all over the valley and causing some confusion amongst fellow Realtors. To make the rules clear, below are the two MLS rules which speak to this topic. Whether a listing has a sign on the property with "Coming Soon" on it or does not have one, the listing must be inputted into the MLS within 2 days. Should there be some reason the Seller does not want the listing in the MLS a "Seller Instruction to Exclude Listing from the Multiple Listing Service" (SELM) form must be filed with CDAR. Should this form not be filed with CDAR within the same 2 day time period, a violation will be issued for Late Entry of Listing/No SELM on File. First violation is a warning. Second violation carries a $500 fine. Third violation carries a $1000 fine.
For Listings not entered in the MLS at all, with no SELM on file within the timeframe as noted in Section 7.5, a violation will be issued for Failure to Input a Required Listing/No SELM on File. First violation is a warning. Second violation carries a $600 fine. Third violation carries a $1800 fine.
For the exact MLS rules, please click the button below.
PALM SPRINGS SMOKE ALARM REQUIREMENTS UPDATE
Effective January 1st, 2016, the California Health and Safety Code related to residential smoke alarm requirements in the city of Palm Springs will be changed. Smoke alarms will be now required inside all sleeping rooms in the city of Palm Springs regardless of the year of construction.
The Palm Springs Fire Department is allowing a three-month implementation period for this new regulation. While the enforcement of the requirement does not techincally go into effect until April 1st, 2016, any smoke alarms not present in sleeping rooms after that date will result in a failed inspection, so it is highly recommended that agents implement the new requirements immediately.
For the full requirements for this change, please click here or click the button below.