Who Killed the Real Estate Industry In California?

As you know, the original purpose of AB957 was to try and help independent title and escrow companies compete for business in the REO market.  Now? Now it seems large companies with special interests are trying to generate revisions that would essentially neuter the bill – providing the death knell to real estate jobs in California.

As you can see, these new revisions leave buyers at risk of being overcharged by the same banks that crested this real estate market collapse. Now, those banks are channeling all the Escrow, Natural Hazards Reports and Title business to the largest title companies in the nation thus eliminating those other service providers from the business. Once this practice is established it will send all the title, escrow and natural hazard work FROM California companies TO these out of state giants.

Folks, once the work is gone, so are the jobs.

So what do we do?  We have to get this bill back on track.  Yes, I need your help here.  Please fax Assembly member Cathleen Galgiani
and the Committee person(s) in your district to let them know you want a bill that works for you!

Here is a sample letter to use. Please fax this directly to Assembly member Cathleen Galgiani and to the assembly member for your district (numbers below):

June 4, 2009

RE: Assembly Bill 957

Dear Assembly Member,

As a constituent, I want you to know that I support for AB 957 with its proposed new language:

1103.21. (a) A seller shall not, directly or indirectly, as a condition of receiving offers or selling residential real property to a buyer, require the buyer to purchase title insurance, or escrow services, or a Natural Hazard Disclosure Statement in connection with the sale of that property from a company chosen by the seller.

AB 957 is written to save jobs in the real estate industry. I need your help.

Unless the bill is amended to include all settlement services, the controlled “affiliated” companies owned by the large title companies, will control California’s real estate business and thousands of people may lose their jobs!

Your support of this amendment will ensure that large banks and large title companies cannot impose their own provider, and ensures that the provider is negotiable.

Please represent me in supporting this amendment.

Sincerely,

____________________________

(Signature)

____________________________

(Printed Name)

____________________________

(Street Address, City, State, Zip)

____________________________

(Phone Number)

CONTACT INFO:

Assembly Member Cathleen Galgiani, FAX 916-319-2117

Senate Judiciary Committee

Senator Ellen Corbett– Chair (D)

State Capitol, Room 5108
Sacramento, CA 95814
Fax: 916-327-2433
Counties: Portions of Alameda, Portions of Santa Clara
Main Cities: Castro Valley, Fremont, Hayward, Milpitas, Newark, Pleasanton, San Jose, San Leandro, San Lorenzo, Union City

Senator Tom Harman (R)

State Capitol, Room 3070
Sacramento, CA 95814
Fax: 916-445-9263
Counties: Portions of Orange
Main Cities: Costa Mesa, Cypress, Fountain Valley, Garden Grove, Huntington Beach, Irvine, Newport Beach, Westminster
Senator Dean Florez (D)

State Capitol, Room 313
Sacramento, CA 95814
Fax: 916-327-5989
Counties: Portions of Fresno, Portions of Kern, Kings, Portions of Tulare
Main Cities: Bakersfield, Coalinga, Delano, Dinuba, Fresno, Hanford, Lemoore

Senator Mark Leno (D)

State Capitol, Room 4061
Sacramento, CA 95814
Fax: 916-445-4722
Counties: Portions of Marin, Portions of San Francisco, Portions of Sonoma
Main Cities: San Francisco, Mill Valley, Novato, Petaluma, Rohnert Park, San Rafael

Senator Mimi Walters (R)

State Capitol, Room 3082
Sacramento, CA 95814
Fax: 916-445-9754
Counties: Portions of Orange
Main Cities: Orange, Portions of Fullerton, Laguna Niguel, Laguna Hills, Portions of Anaheim, Mission Viejo, Lake Forest, Tustin, Aliso Viejo, Rancho Santa Margarita, Irvine, Laguna Woods, Buena Park

Senate Banking and Finance Committee

Senator Ron Calderon – Chair (D)

State Capitol, Room 5066
Sacramento, CA 95814
Fax: 916-327-8755
Counties: Portions of Los Angeles
Main Cities: Hacienda Heights, Huntington Park, La Mirada, Los Angeles, Montebello, Norwalk, Pico Rivera, Santa Fe Springs, South El Monte, South Gate, Whittier

Senator Dave Cogdill – Vice Chair (R)

State Capitol, Room 5097
Sacramento, CA 95814
Fax: 916-327-3523
Counties: Portions of Fresno, Portions of Madera, Mariposa, Portions of San Joaquin, Portions of Stanislaus, Tuolumne
Main Cities: Clovis, Fresno, Lodi, Madera, Stockton, Sonora

Senator Lou Correa (D)

State Capitol, Room 5052
Sacramento, CA 95814
Fax: 916-323-2323
Counties: Portions of Orange
Main Cities: Anaheim, Buena Park, Fullerton, Garden Grove, Santa Ana, Stanton, Westminster

Senator Dave Cox (R)

State Capitol, Room 2068
Sacramento, CA 95814
Fax: 916-324-2680
Counties: Alpine, Amador, Calaveras, El Dorado, Lassen, Modoc, Mono, Portions of Nevada, Portions of Placer, Plumas, Portions of Sacramento, Sierra
Main Cities: Auburn, Elk Grove, Fair Oaks, Folsom, Galt, Mammoth Lakes, Orangevale, Placerville, Rancho Cordova, Roseville, Sacramento, Shingle Springs, South Lake Tahoe, Susanville, Truckee, Valley Springs

Senator Dean Florez (D)

State Capitol, Room 313
Sacramento, CA 95814
Fax: 916-327-5989
Counties: Portions of Fresno, Portions of Kern, Kings, Portions of Tulare
Main Cities: Bakersfield, Coalinga, Delano, Dinuba, Fresno, Hanford, Lemoore

Senator Tom Harman (R)

State Capitol, Room 3070
Sacramento, CA 95814
Fax: 916-445-9263
Counties: Portions of Orange
Main Cities: Costa Mesa, Cypress, Fountain Valley, Garden Grove, Huntington Beach, Irvine, Newport Beach, Westminster

Senator Christine Kehoe (D)

State Capitol, Room 5050
Sacramento, CA 95814
Fax: 916-327-2188
Counties: Portions of San Diego
Main Cities: San Diego, Del Mar, Lemon Grove

Senator Carol Liu (D)

State Capitol, Room 5061
Sacramento, CA 95814
Fax: 916-324-7453
Counties: Portions of Los Angeles
Main Cities: Altadena, Burbank, Glendale, Hollywood, La Canada Flintridge, Los Angeles, Pasadena, San Gabriel, Valley Village, Van Nuys

Senator Alan Lowenthal (D)

State Capitol, Room 2032
Sacramento, CA 95814
Fax: 916-327-9113
Counties: Portions of Los Angeles
Main Cities: Artesia, Avalon, Bellflower, Cerritos, Downey, Hawaiian Gardens, Lakewood, Long Beach, Lynwood, Paramount, Signal Hill, Southgate, Florence-Graham, Willowbrook

Senator Alex Padilla (D)

State Capitol, Room 4038
Sacramento, CA 95814
Fax: 916-324-6645
Counties: Portions of Los Angeles
Main Cities: Canoga Park, North Hills, North Hollywood, Northridge, Pacoima, San Fernando, Sun Valley, Sylmar, Van Nuys, Winnetka

Senator George Runner (R)

State Capitol, Room 4090
Sacramento, CA 95814
Fax: 916-445-4662
Counties: Portions of Kern, Portions of Los Angeles, Portions of San Bernardino, Portions of Ventura
Main Cities: Lancaster, Palmdale, Santa Clarita, Apple Valley, Hesperia, Victorville, Fillmore, Santa Paula, Los Angeles

Senator Lois Wolk (D)

State Capitol, Room 4032
Sacramento, CA 95814
Fax: 916-323-2304
Counties: Portions of Sacramento, Portions of San Joaquin, Portions of Solano, Yolo
Main Cities: Davis, Fairfield, Manteca, Stockton, Tracy, Vacaville, West Sacramento