A number of new laws went into effect Jan. 1, 2012. Among those is the following:
– SB 837, a California Association of Realtors (C.A.R.) sponsored bill, which requires the seller to disclose whether the property has water-conserving plumbing fixtures. By Jan. 1, 2017, a single-family residence built on or before Jan. 1, 1994, must generally be equipped with water-conserving plumbing fixtures. If, however, that single-family home is altered or improved on or after Jan. 1, 2014, the water-conserving plumbing fixtures must be a condition of final permit approval.
This law is very relevant to homes in Carmel but affects everyone on the Monterey Peninsula. It is a well known fact that the Monterey Peninsula has been trying and failing for decades to agree on and build a water project that will “solve” the Peninsula’s water problems. Even the latest plan – the Regional Desal Plant – appears to have quickly gone from viable to close to dead. Which begs the question is anyone really worried enough about the economic impact of rationing to want to take positive action, or will everyone just remain in their own camps and place the blame elsewhere.
Developing a new water supply project(s) that has the ability to adequately serve Cal-Am ratepayers has hit a critical stage – to put it lightly. 70% of our water will be lost come the first day of January, 2017. The impact of this on the whole peninsula economy is unimaginable.
– AB 771, another C.A.R.-sponsored bill, which requires a homeowner association (HOA), upon written request, to give an estimate of the fee for providing a prospective buyer with the governing documents of the common interest development and other required HOA disclosures. The bill also specifies that only fees for the required documents may be charged when such documents are provided, effectively prohibiting any “bundling” of fees for other documents with these fees. In compliance with the bill, C.A.R. has released a revised C.A.R. standard form (Homeowner Association Information Request) detailing which documents are required, and requiring the provider to disclose the fees that will be charged for the documents before they are provided. The seller of a CID must complete this form and transmit it to the prospective purchaser along with the required documents. This will eliminate any uncertainty for the prospective purchaser as to exactly which documents are being provided and the precise fees being charged for those documents.
– SB 510, also a C.A.R.-sponsored bill, which increases the responsibility and accountability of licensees managing real estate offices. Under this measure, a broker of record would be permitted to appoint an eligible real estate broker or salesperson to supervise branch office operations, provided that a contract detailing the duties and responsibilities to be performed by the office manager is in writing and DRE is notified. Principal brokers would remain accountable for their own supervisorial responsibilities; the DRE would also be able to discipline office managers for failure to supervise. SB 510 is effective July 1, 2012.