Welcome to the Realty Investment Association of California like us

Our 48th year of "Success through Cooperation!"

RIAOC Meeting agenda includes Early-Birds, Tax, Legal, Legislative, Financial News and a Speaker.

Next Meeting is: 8/30/2016  - Gary Howard, CPA, GLHowardCPA.com
“Forensic Accounting and Fraud Prevention for Business”

Our Current Workshops are: The LISTING, COMMUNICATION and the LAND Workshops - If you have interest in learning how to do commercial, land or investment real estate, please attend one of these workshops. We will share our knowledge and help you learn how to list and market your listings by helping you learn the "ins and outs" of the investment real estate business. (Please check the Speaker Flyer above for current Workshops and Topics.)

Network Meeting 7:30 A.M.; General Meeting 8:30A.M. Workshops at 9:30.

News & Announcements -

In memoriam: Bill Duncan, Lt. Col. Wm. R Duncan, USMC (Retired) passed away on Tuesday, March 8th at 95 years of age. For RIAOC members back in the day, our beloved “Lil Colonel” will be remembered as being first to serve and owner of the title, “Father of the Gold Sheet.”

RIAOC OFFERS THE OPPORTUNITY TO LIST ONE OF YOUR HAVES AND WANTS FOR FREE! (Gold Sheet)
THE FIRST AD IS FREE! All members can list one of their Haves and Wants in the Gold Sheet for Free (Add'l Ads $3/Line). Get all the benefits of using the Gold Sheet. Tell everyone what properties you "Have" available for purchase or tell everyone what your Clients are looking for and "Want"!

The 10 steps to saving the Constitution come from the Heritage Foundation’s newsletter.

Don't miss the Ronald Reagan Page or The Star Spangled Banner (sung the right way!)(again by Daves Highway)

Quote of the Week:  My reading of history convinces me that most bad government results from too much government. Thomas Jefferson,

Business Tip of the Week Athletes at the Winter Olympics got there by setting very high goals and then persistently pursuing them when setbacks came. Those same actions will get us where we want to go in business.

2016 New Laws Affecting REALTORS®

Here is a Summary produced by C.A.R. - 2016 New Laws
For the full text of the law please go to http://leginfo.legislature.ca.gov/ for California laws or http://www.gpo.gov/fdsys/ for federal laws.

2015 New Laws Affecting REALTORS®

1. Disclosure Regarding Real Estate Agency Relationships (C.A.R. form AD) must be delivered on commercial transactions -
Presently, the Disclosure Regarding Real Estate Agency Relationships form (C.A.R.’s AD form) is required for real property transactions involving residential one to four dwelling units, leases of greater than one year and manufactured homes (if negotiated by an agent).  Existing law also requires the listing or selling agent to disclose to the buyer and seller whether he or she is acting as the buyer’s agent exclusively, the seller’s agent exclusively, or as a dual agent representing both the buyer and the seller. This disclosure is typically made through the confirmation of agency relationships on the first page of CAR purchase agreements.
Under the law, the AD form and confirmation will be required for any commercial, vacant land or industrial property; or any residential 1 - 4 property.
Senate Bill 1171 codified as Civil Code §2079.13. Effective January 1, 2015.

2. Energy Use Disclosure (AB 1103) Requirements for Commercial Property: Compliance on or after July 1, 2014 total gross square foot area measuring 5,000 square feet up to 10,000 square feet delayed to July 1, 2016
The sale or lease of commercial property meeting certain square footage measurements requires the delivery of energy use disclosure to the prospective buyer or tenant. The disclosure trigger was to become effective for the sale of lease or commercial property measuring between 5,000 and 10,000 square feet on July 1, 2014.  The California Energy Commission amended subdivision (c) of section 1682 of title 20 of the California Code of Regulations as an emergency regulatory action to change the effective date from July 1, 2014 to July 1, 2016 when the disclosure requirements of Public Resources Code section 25402.10 apply for a nonresidential building with a total gross square foot area measuring 5,000 square feet up to 10,000 square feet. The Office of Administrative Law approves this emergency regulatory action pursuant to sections 11346.1 and 11349.6 of the Government Code.
This emergency regulatory action became effective on September 2, 2014 and will expire on March 3, 2015.

3. REOs cannot dictate title and escrow company. This law is known as “The Buyer’s Choice Act,” and is now made permanent

The Buyer’s Choice Act presently prohibits a lender that gained title through foreclosure from requiring upon resale, directly or indirectly, as a condition of selling the property, that the buyer purchase title insurance or escrow services from a particular title insurer or escrow agent. This law applies to residential real property of four dwelling units or fewer.  A seller who violates these provisions is liable to the buyer for an amount equal to three times all the charges made for the title insurance or escrow services.
This existing law was due to sunset in 2015. Now however, the law will continue indefinitely.
Senate Bill 1051 codified as Civil Code §1103.23. Effective January 1, 2015.

Note: For more information and for additional new laws please visit:

http://www.car.org/legal/recent-news-laws/2015Laws

The above information is courtesy of the California Association of Realtors for members only. If you are  a CalBRE licensee and not a member of C.A.R. , You should be!

 

National Commercial Real Estate News From CoStar Group
CoStar Group, Inc.
  • CoStar's People of Note (Aug. 26)
    It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Chicago, Dallas / Ft. Worth, San Diego, Boston, Tampa / St. Petersburg, Orange County, Atlanta, Texas and more! CHICAGO Ulbrich to Succeed Dyer as CEO of Global CRE Firm JLL By Randyl Drummer 'Dual Agency' Transactions Under Scrutiny in California Court Case
    A case scheduled to come before the California Supreme Court Sept. 7 is set to re-examine the fiduciary responsibilities borne by real estate brokers who engage in "dual agency" representation -- the situation in which buyers, sellers, landlords and tenants are represented by brokers within the same real estate agency or brokerage, a commonplace practice in both residential and commercial property transactions. The California Supreme Court in 2014...
  • Qatar Wealth Fund Acquires Nearly 10% Stake in Empire State Building Owner
    An affiliate of Qatar Investment Authority (QIA) has paid $622 million for a 9.9% interest in Empire State Realty Trust, Inc. (NYSE: ESRT), owner of the 102-story Empire State Building. The minority stake acquired by QIA in Empire State Realty, which became a publicly traded REIT in October 2013, is part of a plan announced last year by the Qatari sovereign wealth fund to invest $35 billion in U.S. real estate over the next five years, opening...