Legal Hotline Reaches MilestoneA free Legal Hotline available to Realtors hit a milestone in March when more than 8,100 calls were received and answered by attorneys for the California Association of Realtors. An average of 387 calls per day were fielded over the 21 days that the Legal Hotline was open.

The hotline, one of C.A.R.’s most popular member benefits, is a free service that enables members to receive real-estate related legal advice from an attorney.

To learn more about the Legal Hotline, including hours of operation, types of questions answered, and how to contact a C.A.R. attorney, Realtors can visit http://www.car.org/legal/miscellaneous-contacts/legal-hotline-access/.

C.A.R. also offers members a Finance Helpline to help them better serve their clients.

The Finance Helpline is avail-able to members only Monday through Friday from 8:30 a.m. to 5 p.m. Call 213-739-8383, email to financehelpline@car.org, or go on-line to Finance.car.org.

Foreign Buyers Pursue Golden State Homes

By Roger Hance, President, and David WalkerSouthland Regional Association of Realtors®

While foreign buyers are a relatively small part of the U.S. residential housing market, citizens of nations such as Canada and China display a profound and consistent confidence in California homes and the state’s economic future.

Perhaps we should call it the “sunshine effect,” as foreign buyers expand their interest locally, making California second behind Florida as the states with the most sought after residential real estate. Virtu-ally

every state attracts interest from foreign buyers, with Arizona, Texas, and New York rounding out the top five.

The major sources of purchasers come from, in de-scending order, Canada, China, India, Mexico and the United Kingdom.

Foreign buyers, both residents and non-residents, snapped up $68.2 billion worth of homes nationwide during 2013, accounting for 6.3 percent of existing home sales valued at about $1 trillion.

Sixty-nine percent of international buyers paid all cash, compared to 27 percent of traditional buyers.

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THe Voice FoR ReaL eSTaTe in THe San FeRnando and SanTa cLaRiTa VaLLeySwww.SRaR.com | Real Estate Questions? E-mail Roger Hance, SRAR 2014 President, c/o DavidW@SRAR.com

CALIFORNIA ASSOCIATION OF REALTORS®

For a complete overview of C.A.R.’s programs and services, please visit www.car.org.

Call C.A.R.’s Finance HelplineIs your transaction hung up by financing roadblocks?

Call us with the details of your transaction hurdle and a lender liaison will connect with lenders on your behalf

to help resolve your troubled transactions.

Get one-on-one assistance with short sales, funding, REOs, Deeds in Lieu, and other aspects of financing

the real estate transaction.

(213) 739-8383financehelpline@car.org

Finance.car.orgThe C.A.R. Finance Helpline is available Monday through Friday from 8:30 a.m. – 5 p.m. This is a free service only for C.A.R. members.

A FREEC.A.R.

Member

Benefit!

Financing Question?

Direct Line to Lenders & Servicers!

Foreign buyers see U.S. real estate as a ‘safe’ investment,

a reliable haven

Realtor® Roger Hance2014 SRAR President

HOMEBUYERS E M I N A RHOMEBUYERS E M I N A R

Southland Regional Association of REALTORS®7232 Balboa Blvd., Van Nuys, CA 91406

Saturday, May 17, 201410:00a.m. – 12:00p.m

Learn directly from professionals about:

To RSVP, call 818-947-2298or via email at jasona@srar.com

FREE

Complimentary

refreshments!

www.srar.com

THIS SEMINAR IS STRICTLY FOR THE GENERAL PUBLIC NO REALTOR MEMBERS ALLOWEDUNLESS ACCOMPANYING A CLIENT

Down Payment Assistance

Tax & Financial Benefits

How to Improve Your Credit

Working with a REALTOR®The Buying Process Explained

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Arizona California Florida Georgia Nevada New  York Texas Virginia2009 7% 13% 23% 1% 1% 2% 11% 3%2010 11% 12% 22% 5% 3% 4% 8% 2%2011 6% 12% 31% 2% 2% 3% 9% 2%2012 7% 11% 26% 4% 2% 4% 7% 1%2013 9% 17% 23% 2% 2% 3% 9% 3%

0%

5%

10%

15%

20%

25%

30%

35%

Distribution  of  International  Sales  by  State    

8%  

10%  

10%  

66%  

6%  

Asia/Oceania

Latin  America/Carribean

Europe

Canada

Africa/Middle  East

0% 10% 20% 30% 40% 50% 60% 70%

Distribution  of  International  Clients  Purchasing  in  Arizona  

More than other nations, foreign buyers see U.S. real estate as a “safe” investment, a reliable haven to place their money.

U.S. citizens may be confounded by seem-ingly endless partisan gridlock in the nation’s capital, but international buyers say they are drawn to U.S. real estate because of its stable government and financial systems. It makes them feel their investment is secure.

And, 85 percent of foreign buyers sur-veyed said they considered buying only in the United States. The other 15 percent looked

at countries like Canada, Germany, Mexico, China, Singapore, Sweden, and France.

The bulk of international purchases are single-family homes that are obtained for

residential purposes. Not surprisingly, location appears to be

the primary factor influencing home pur-chases, studies by the National Association of Realtors and other organizations found.

The decisions hinge on each buyer’s employment, vacation preferences, family, educational, and investment objectives.

A transaction involv-ing a foreigner makes an already complicated process even more difficult, adding into the brew cultural affinity, language skills, and an understanding of U.S. and foreign traditions and practices regarding home ownership.

Some Californians seem hesitant to jump into the housing market. Clearly, foreign buyers see it differently.The Southland Regional Association of Realtors® is one

of the largest local trade associations in the nation with 8,900 members serving the San Fernando and Santa Clarita valleys.

Local Realtors in Sacramento to Protect Property Rights, Stave off Tax

Realtors from around the state, including the above contingent of local leaders representing the San Fernando and Santa Clarita valleys, trekked to Sacramento recently to meet with lawmakers

about topics ranging from protecting private property rights and public policy issues to staving off a proposed $75 per document tax that could add $552 to the typical refinancing of a home loan.