Translate this page
SRCAR® discusses state of affairs in real estate industry
Friday, October 4th, 2013
Issue 40, Volume 17.
The event included a lunch and an education from several guest speakers on what’s going on in the industry on different levels.
State Assemblywoman Melissa Melendez briefly spoke at the events, and even gave guests a few laughs with her sarcastic jokes about the state of the political climate.
"I have good news for you; the legislature is out of session now. So you can hold on to your wallets until January," she said, this made the audience clap loudly.
Between 2007 and 2011 more than one and a half of Californians received notice about default on their homes, according to Melendez, who resides in Lake Elsinore.
"In Riverside County we’ve been hit the hardest," she said. "My city was listed in GQ Magazine as Foreclosure Alley."
"I can think of a million ways that I’d like to get into GQ Magazine, and that’s not one of them," she added.
More than 500 families lost their homes to foreclosure every day during that time. However, she said, SRCAR® has helped the community to keep their homes.
"That is no small task," she said.
She also said there are some members of the legislature that want to unravel Prop 13, which cuts property taxes down to one percent (this includes residential and commercial property) and limits the growth rate of future assessmentsto two percent. However, once properties are sold, new taxations are directed to value the properties at their market value, according to taxfoudation.org.
"They’re not going to give up on that…They want to remove the tax protections," Melendez said, to which she disagrees with.
She told guests to keep an eye on this because for some members it’s their last year in the legislature. This means they want to go out with bells ringing, saying, "Look what I did!" she said.
"These are the members who are going to try to pull a fast one on you," Melendez said.
Alvin Toney of Veterans Association of Real Estate Professionals (VAREPS) also was there on behalf of veteran affairs.
He said they are "vets helping vets" and they help veterans to find homeownership.
"We’re looking for people who have a passion for helping veterans," said Toney.
They have been "blessed" to get veterans into homes, he said.
This effort has been made in part to homes that have been donated by banks such as J.P Chase Morgan and Wells Fargo.
He said they are slowly being seen a demographic, and this has taken a long time to get to. He said this is difficult because unlike looking at a demographic like White, Asian or African-American, "How do you make a vet a demographic?"
Other speakers included Myrna Crowther from Prime Lending and Cindy Wessells from The Mortgage Mall, and Walter Harris, Top Level Reality, R.E Agent, who spoke about integrity and ethics.
The Valley News has tightened its' policy regarding comments.
While we invite you to contribute your opinions and thoughts, we request that you refrain from using vulgar or obscene words and post only comments that directly pertain to the specific topic of the story or article.
Comments that are derogatory in nature have a high likelihood for editing or non-approval if they carry the possibility of being libelous.
The comment system is not intended as a forum for individuals or groups to air personal grievances against other individuals or groups.
Please, no advertising or trolling.
In posting a comment for consideration, users understand that their posts may be edited as necessary to meet system parameters, or the post may not be approved at all. By submitting a comment, you agree to all the rules and guidelines described here.
Most comments are approved or disregarded within one business day.
The Village NewsAnza Valley OutlookFallbrook.orgSourcebookPDF VersionCoupon CornerSign up for iNewsEarthquake Info
357 Medical marijuan...
265 Arrests now numb...
175 Authorities seek...
168 Man hit, killed ...
125 Mother-in-law ar...
122 Camp Pendleton a...
121 Authorities dist...
121 Bikers steering ...
118 22 suspected ill...
117 Double fatality ...
114 Murrieta Mayor A...
114 Temecula mosque ...
110 Governor Brown s...
107 Bonsall man (lon...
105 Preliminary hear...