WeSERV is still interviewing candidates running for local office. Last week our Cochise Chapter interviewed candidates running for city council and mayor of Sierra Vista. This week our West Valley Chapter will be interviewing candidates running for Peoria city council in the Mesquite district.
Look for the WeSERV REALTORS candidate endorsement list on our websites: weserv.realtor and www.weservgad.org.
On August 31st, the Arizona REALTORS hosted our annual Legislative Caucus. WeSERV Government Affairs prepared for this important opportunity to impact and influence the Arizona REALTORS 2023 legislative agenda by bringing specific issues of concern and our suggestions for solutions to the discussion.
The New Homestead Act: With the changes made to the Homestead Act taking effect in January 2022, WeSERV has identified a few concerns and provided solution suggestions.
The “Wholesale Buyer/Seller” Law: Through this new law, two new definitions were created for people assigning a contract – Wholesale Buyer and Wholesale Seller. When assignment of a contract is performed, the correct and long-standing terms are Assignor and Assignee. It also requires buyers with the intention of assigning the purchase contract disclose their intention in the purchase offer.
Frequently, property owners may not realize a lien has been recorded against their property. This is a favorite tactic of scam artists, but sometimes a property owner may not realize an action has been taken and a legal lien has been placed on their property.
Definition of Institutional Buyers: the term Institutional Buyer is becoming synonymous with “big, unfeeling, hedge fund, corporation or iBuyer”. Most of Arizona’s residential rental property is owned by individual or small group investors in an entity. By defining them in the same way as a hedge fund, government or large institutional buyer, it will be increasingly difficult for them to help provide rental housing.
Increasingly, WeSERV is seeing a definition of abandoned property, first put forth by the Cleveland Fed during the 2008 crash, being written into city ordinances. That definition was subsequently adopted by HUD about 2012. The definition states property with a property tax paid in arrears with a property lien, or a property with a notice of default on a mortgage or deed of trust, is deemed to be abandoned.
GAD Events:
WeSERV has created the City of Maricopa Sign Ordinance Task Force.
ADOT has opened the public comment period for the proposed expansion of I-10 from Wild Horse Pass to Casa Grande.
The next Government Affairs meeting will be on October 12, 2022. Also in October we will have a morning of update and information from ADEQ, the Arizona Department of Environmental Quality and from Rep. Debbie Lesko.
WeSERV GAD: Advocating for private property rights, the right to private contract and YOUR Business!
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