On Friday, November 9th, NSAR sponsored its 4th Legislative Breakfast in 2007, attended by State Senator Steven Baddour (D-1st Essex) and State Representative Harriett Stanley (D-2nd Essex).
The Breakfast was held at ABC Home Inspections, Inc. and ABC Real Estate Training Institute in Haverhill; NSAR would like to thank Affiliate Member Andy Consoli for allowing us to use his conference room and facilities (seen here).
MAR Associate Counsel, Margy Grant, presented the five legislative topics on the agenda and gave the legislators the Realtor® position on each issue. These issues included:
1. Transfer Taxes. Realtors® oppose real estate transfer taxes as bad tax policy for several reasons including: a community wide responsibility should be paid for by the entire community; a transfer tax is inequitable and discriminatory as it singles out a small segment of the population [specifically home buyers & sellers] to pay for a community wide need; a transfer tax is exclusionary because it would increase the cost of home ownership; a transfer tax would be an unstable source of revenue due to the instability of the real estate market; a transfer tax would subvert the Proposition 2 ½ override process; the state legislature has already given cities and towns many equitable tools to create affordable and workforce housing through passage of Community Preservation Act, Chapter 40B, and Chapter 40R and 40S.
2. An Act Protecting Children from Poisoning. Proposed legislation SB. 1230 would (a) require lead inspections on all sales of property, instead of at the buyer’s option; (b) require owners and sellers of property to abate lead in soil and tap water; and (c) require letters of compliance for rental units to be renewed every two years, regardless of whether children reside in the unit, or whenever there is a change in occupancy, if that is earlier.
3. An Act Providing Information to Real Estate Buyers. Proposed legislation H. 323, S. 201 is a little unclear but seems to suggest that a homeowner would be expected to review the databases of nearly a dozen different governmental agencies and then create some type of report or hire and pay someone to do it for them. It is not clear how many millions of dollars this could cost Massachusetts homeowners every year or that buyers and sellers could review this data and provide an accurate assessment of what implications, if any, information on one of these databases would have on a home.
4. An Act Relative to the Disclosure of Wetlands on Property. Proposed legislation H. 767 seeks to require that a real estate broker disclose to prospective buyers that a property to be sold may be in its entirety, or in part a wetland as defined in Chapter 131 of the General Laws of or any other regulation or local by-law of the municipality where the property is located. It is the Realtor® position that however well intentioned this proposal may be, it would create an impossible standard for real estate licensees to meet and generate confusion for consumers.
5. An Act Relative to Smart Growth Housing Trust Fund (S. 132) and An Act Relative to Financing the Smart Growth Housing Trust (H. 160). Realtors® support both these bills, as it would create a steady stream of revenue to support the continued success of 40R Smart Growth districts.
