2012 State Legislative Briefing

Welcome to the

2012 State Legislative Briefing

Presented by

Briefing Gold Sponsor

Briefing Bronze Sponsor

2012 Community Champions

2012 Platinum Sponsors

2012 Gold Sponsors

If you’re tweeting this event, use #SLB12 as a hashtag

Leslie WaldenPublic Affairs Director

Presenting Sponsor

Chapel Hill-Carrboro Chamber of Commerce

State Legislative BriefingReal Estate and Property Issues

Mark Zimmerman

Vice-Chair, Legislative CommitteeNorth Carolina Association of REALTORS®

North Carolina Association of REALTORS®

• Largest and oldest state association in North Carolina.

– Non-profit trade association

– Founded in 1921

– 31,000 real estate professionals

– 62 local associations

North Carolina Association of REALTORS®

• Mission and Purpose

• "To promote the success of our members and enhance the Quality of Life in North Carolina.”

– We further pledge to:

• Preserve and promote the right to own, transfer and use real property;

• Maintain a leadership role in the legislative, political and regulatory process;

2012 Short Session

• Copper Theft

• BPO

• Mechanic’s Liens

• Jordan Lake

• Landlord-Tenant

• Budget Issues

• Fracking

Copper Theft – HB 199• Sheriffs, DA’s, Retailers, Utilities (life

safety/disruption of service)• All precious metals, including copper

– Identify & Track

• Picture of seller• ID Card• Holding period• No cash over $25• Restitution provisions• Minimum sentences

Broker Price Opinions - SB 521• Banking Industry, REVA, NCPAC (Professional Appraisers

Coalition), NC Appraisal Institute • In demand by marketplace

– Lower cost and scope than a full blown appraisal– Price assets for books – Lending institutions and Feds for mortgage modification

• Not appraisal – Price opinion, not opinion of value

• Not for lending – No originations, refis

• Allows Brokers to perform BPO’s for a fee without anticipation for listing

Mechanic’s Liens – SB 42 & HB 1052

• Home Builders, Land Title Industry, Bar Assoc., others

• “Hidden liens” created crisis

– Title insurance stop writing coverage July 15

• Creates private lien agent

– Requires contractors & subs to notice

– Allows closing attorney to show clear title

Jordan Lake

• City of Greensboro initiative

• Delays implementation of new development rules for two years

– Local governments can implement

Landlord Tenant - HB 493• Streamlined summary ejectment process• Remove tenant after lease• Expands landlord use of tenant security deposit

– Cleaning – Non payment utilities– Smoke detectors– Re-rental fees– Unpaid bills

• Allows acceptance of partial payment w/o compromising summary ejectment

• Abandoned personal property – <$750 to nonprofit– <$500 thrown away

Budget• NC Housing Trust Fund

– Provides low income financing• First time buyers• Apartments for working families, seniors, disabled• Emergency home repairs

– Supported $10 Million funding• Want dedicated funding source• This year, reliance on Federal Funds

• Underground storage tank funding restored– State fund to remediate contaminated soil– Environmental issue

Fracking

• Not involved, no position

• Now that it has passed:

– Disclosure requirements after the fact

Rep. Joe Hackney

House Minority Leader

District 54

Sen. Ellie Kinnaird

NC Senate

District 23

Rep. Verla Insko

NC House of Representatives

District 56

Rep. Bill FaisonNC House of Representatives

District 50

Rep. Larry Hall

NC House of Representatives

District 29

Question & Answer

Thank you Rep. Hackney and

Rep. Faison for your service

2012 Inter-City Visit

• September 9, 10, 11

• Bloomington2012.com

Thank you for attending the

2012 State Legislative Briefing