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For release:
July 28, 2015

C.A.R. Opposes Tax on Home Buyers in Senate Highway Transportation Bill
Bill would put tax burden on home buyers, hinder future efforts at mortgage finance reform

LOS ANGELES (July 28) – The CALIFORNIA ASSOCIATION OF REALTORS® is opposing a provision in the highway bill now being considered by the U.S. Senate that taxes home buyers by increasing the fees Fannie Mae and Freddie Mac charge on their loans. This provision would extend a tax on homeowners that Congress implemented in 2011, which C.A.R. opposed at the time.

"C.A.R. opposes this provision because home buyers are being forced to offset the costs and take on this tax burden," said C.A.R. President Chris Kutzkey. "Not only will it increase the cost of homeownership and make it more difficult for a buyer to purchase a home, it will hinder future efforts at mortgage finance reform."

Leading the way…® in California real estate for 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
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Stop Patent Trolls

NAR has issued a nationwide Call for Action in support of H.R. 9 to put an end to the lawsuit abuse perpetrated by patent trolls. Patent trolls purchase outdated patents and then file extortionary lawsuits against legitimate businesses for using common business technologies.

REALTORS®, among others, have been targeted for using very common business technologies on their websites like dropdown menus and search functions. There have been 4,953 patent trolling lawsuits filed in California alone (about 25 percent of national figures).

C.A.R. and NAR urge you to support H.R. 9 by contacting your member of Congress today. Look for an email from the Realtor Action Center with the subject line: "NAR Call for Action – Push Back on Patent Trolls" and respond to it today.

Join the Call for Action today!

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Stop Patent Trolls

NAR has issued a nationwide Call for Action in support of H.R. 9 to put an end to the lawsuit abuse perpetrated by patent trolls. Patent trolls purchase outdated patents and then file extortionary lawsuits against legitimate businesses for using common business technologies.

REALTORS®, among others, have been targeted for using very common business technologies on their websites like dropdown menus and search functions. There have been 4,953 patent trolling lawsuits filed in California alone (about 25 percent of national figures).

C.A.R. and NAR urge you to support H.R. 9 by contacting your member of Congress today. Look for an email from the Realtor Action Center with the subject line: "NAR Call for Action – Push Back on Patent Trolls" and respond to it today.

Join the Call for Action today!

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WASHINGTON (July 29, 2015) — After five consecutive months of increases, pending home sales slipped in June but remained near May's level, which was the highest in over nine years, according to the National Association of Realtors®. Modest gains in the Northeast and West were offset by larger declines in the Midwest and South.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, fell 1.8 percent to 110.3 in June but is still 8.2 percent above June 2014… Read More

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