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Learning from Leaders Promotes Leadership in Real Estate

“Learning from Leaders in the Year of the Fire Rooster” last Friday aimed at encouraging real estate professionals to be leaders in organized real estate. The event, hosted by the SILVAR's Global Business Council and Young Professionals Network (YPN), attracted over 100 members from SILVAR and other real estate associations.

SERIAL ARSONIST ARRAIGNED FOR SETTING MULTIPLE FIRES AT APARTMENT COMPLEX IN FULLERTON

A serial arsonist was arraigned today for setting multiple fires at an apartment complex in Fullerton. Esther Eunjung Cha, 24, Fullerton, is charged with four felony counts of arson of another’s property, two felony counts of attempted arson, one misdemeanor count of possession of a controlled substance, and one misdemeanor count of possession of controlled substance paraphernalia. If convicted, Cha faces a maximum of eight years in state prison and is scheduled for a pre-trial hearing on March 2, 2017. The time and location are to be determined.

Elk Grove Ranks Among Top 20 Cities in the Country to Start a Family

Elk Grove’s s affordability, safety and quality of life amenities have once again placed it among the top cities in the country for young people looking to buy a home and start a family. In a study released this week by LendEDU, an online financial resource site, Elk Grove ranked 18th best city in the country to start a family

GRAND RE-OPENING OF THE SACRAMENTO VALLEY STATION

The City of Sacramento celebrated the grand re-opening of the Sacramento Valley Station downtown at 5th and I streets. The 68,000 square-foot building underwent a complete facelift including the addition of 25,000 square feet of mixed-use leasable space. The new, old station improves the experience for rail and transit users and restores treasured features of the building.

California Introduces 100% Renewable Energy Legislation

With federal climate and clean energy programs facing an uncertain future, California Senate President pro Tempore Kevin de León has introduced legislation to commit the Golden State to meet 100 percent of its electricity needs with renewable energy by 2045

HUD Accepts CRC’s Redlining Complaint Against CIT Group’s OneWest Bank

The California Reinvestment Coalition (CRC) was notified that its redlining complaint against CIT Group has been accepted by the Department of Housing and Urban Development on Monday this week. As a result, HUD will now begin its investigation.

Massachusetts Gives California a Run for its Money in the Race to 100% Renewable...

Clean energy supporters in Massachusetts announced legislation, backed by more than a quarter of the state legislature, committing Massachusetts to meeting 100 percent of its electricity needs from renewable energy by 2035 and all of its energy needs, including heating and transportation, from renewable sources by 2050

Silicon Valley Association of REALTORS® Recognizes Members for Outstanding Contributions

At the installation of the 2017 leadership of the Silicon Valley Association of REALTORS® (SILVAR) on Jan. 19, special recognition awards were given to members for their valuable contributions in 2016. Presenting the following awards were SILVAR 2016 President Karen Trolan and Executive Officer Paul Cardus

2017 SILICON VALLEY REALTORS® LEADERSHIP INSTALLED

The Silicon Valley Association of REALTORS® (SILVAR) 2017 leadership team was installed on Jan. 19 at the Los Altos Golf & Country Club. California Association of REALTORS® (C.A.R.) 2006 President Vince Malta administered the oath of office to SILVAR’s new president, officers and board of directors.

Led by Southern California, state’s pending home sales trend higher in December

Led by the Southern California region, California pending home sales registered gains on a month-to-month and year-to-year basis, portending a moderate increase in sales in the near term, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today

California REALTORS® call on HUD and new Administration to make reinstatement of FHA insurance...

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response to the announcement by the U.S. Department of Housing and Urban Development (HUD) that the Federal Housing Administration (FHA) will indefinitely suspend a recently announced cut in its annual mortgage insurance premium

California home price ends year on high note while sales moderate in December; housing...

Despite strong headwinds of tight housing supplies and an affordability squeeze throughout much of 2016, California’s housing market ended the year on a positive note, posting a moderate sales pace and home price increases in December, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today

FOIA Request Seeks Data on Reverse Mortgage Foreclosures at Steve Mnuchin’s Former Bank

Earlier today, two nonprofit groups submitted a Freedom of Information Act (FOIA) request about reverse mortgage foreclosures conducted against seniors by Financial Freedom, a reverse mortgage servicer previously owned by Steven Mnuchin, who has been nominated for the United States Treasury Secretary position by President Elect Trump.

Rep. Peters Named to Influential Energy and Commerce Committee for 115th Congress

U.S. Congressman Scott Peters (CA-52) was selected by his Democratic colleagues to serve on the House Energy and Commerce Committee during the 115th Congress. The committee has jurisdiction over legislation and regulation pertaining to energy and the environment, healthcare, telecommunications, and interstate commerce, making it one of the most influential policy-making bodies in Congress.

Federal Analysis Downplays Fracking’s Threats to Public Land in California

Three years after a federal judge rebuked the Bureau of Land Management for ignoring the risks of hydraulic fracturing in California, the agency today issued a revised draft “environmental impact statement” that still fails to carefully evaluate fracking pollution's threats to public land along the state’s Central Coast.

Memo Shows Evidence of Illegal Foreclosure Practices At OneWest Bank While Steven Mnuchin Was...

A 2013 memo written by attorneys in the Consumer Law Section from the California Attorney General’s office is raising new concerns about the track record of OneWest Bank, and the ethics of its former CEO, Steve Mnuchin, who has been nominated to be Treasury Secretary by President Elect Donald Trump. David Dayen first reported on the memo earlier today in an article in the Intercept.

November pending sales and Market Pulse Survey

Pending home sales dropped from both the previous month and last year in November, indicating that the robust sales registered in November will likely not be repeated in the months ahead, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today

State Water Project Allocation Increased to 45 Percent

With reservoirs rising from December storms, the Department of Water Resources (DWR) today boosted its early-season estimate of next year’s State Water Project (SWP) supply from 20 to 45 percent of most requests.

Silicon Valley REALTORS® Create Scholarship Endowment for Student Veterans at Foothill-De Anza Colleges

At the presentation marking the creation of “The John Tripp-Silicon Valley REALTORS® Veterans Scholarship Endowment” for student veterans of De Anza and Foothill Colleges were (left to right) Silicon Valley Association of REALTORS® Board Director Katherine Frey, SILVAR President Karen Trolan, President-elect Denise Welsh, De Anza College Development Director Dennis Cima, Dean of the Disability Resource Center & Veterans Programs at Foothill College Teresa Ong, Foothill-De Anza Colleges Foundation Executive Director Tess Chandler, and Silicon Valley REALTORS® Charitable Foundation President Eileen Giorgi

November existing home sales and median price accelerate from year ago

Following last year’s new mortgage industry regulations that delayed some escrow closings, double-digit annual sales increases across every major region of the state propelled California existing home sales higher in November on a year-over-year basis, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today

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Bipartisan Repeatedly Flooded Properties Insurance Reform Introduced

U.S. Representatives Ed Royce (R-Calif.) and Earl Blumenauer (D-Ore.) introduced H.R. 1558, the Repeatedly Flooded Communities Preparation Act. The bill aims to limit the financial resources expended by the National Flood Insurance Program (NFIP) on claims for properties flooded multiple times

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Northern California Real Estate Investor Sentenced for Rigging Bids at Public...

A Northern California real estate investor was sentenced yesterday for his role in a conspiracy to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced.