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News from City Hall

Supervisor David Campos Introduces a Resolution Supporting Use of Eminent Domain on Underwater Mortgages

The Legislation: On September 10, 2013, Supervisor David Campos introduced a resolution regarding the use of eminent domain on houses with underwater mortgages. The resolution is a declaration of support for the City of Richmond, which is planning to fight future foreclosures by using eminent domain to forcibly buy underwater mortgage loans from their lenders at values significantly below market rate. The resolution also directs San Francisco city government to conduct a study on underwater mortgages and explore similar programs for San Francisco homeowners.

The REALTOR® Impact:  If the resolution passes, the surrounding neighborhoods around eminent domain will likely see a dramatic drop in property value due to the extreme undervaluing of the government's eminent domain transaction. Mortgage credit availability will likely become extremely restricted within the city and Fannie Mae and Freddie Mac will consider limiting, restricting, or ceasing business activities within San Francisco. Potential homebuyers across all markets will suddenly face large barriers to credit and overall property values across the city will fall.  Local governments who have utilized eminent domain have seen a freeze in their municipal bonds, and Moody's has reported that any government entity pursuing eminent domain will face a negative impact on their credit rating.

Learn More: Contact SFAR GADs Mary Jung or Jay Cheng to learn more.

Chrome Export Issues for Realist Users

While Google Chrome is not an officially supported browser for Realist, many have successfully accessed Realist using it for some time. Unfortunately, Google's recent release of Chrome Version 29.0.1547.66 m introduced an issue that causes Realist exports, labels and assessor maps not to display on the download window.

The problem can be solved by following the steps below.

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New Facebook Features on Listing Detail

When posting a listing to Facebook from the Listing Detail page in the SFARMLS, you now may choose between posting to your personal profile, posting to your business page, or sending a private message.

Please Note: Facebook's security policy requires users to provide the page ID when posting to a business page. The business page ID can be found in Facebook, when logged in as the page administrator, by clicking on Edit Page>Update Page Info from the Admin Panel page. The ID is listed last under the "Page Info" section.

Click on the Read More tab to see detailed screenshots.

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SFAR Election Results Are In

With more than twice the voter turnout in the past, three REALTOR® members have been elected to the Association's Board of Directors to serve three-year terms commencing on January 1, 2014. Directors elections are held annually and involve the election of REALTOR® members to replace outgoing directors completing their terms of office. This year's ballot count produced the following results:

Eugene Pak, Climb Real Estate

John O. Asdourian, McGuire Real Estate

Matt Fuller, Zephyr Real Estate

The Association extends its congratulations to the newly elected directors and its best wishes that their service on the board of directors will be most rewarding. Expressions of appreciation are due those who were not elected at this time for their interest in serving as directors. The continued success of the Association is dependent upon the willingness of REALTOR® members to serve on policy-making bodies, such as the board of directors, and we should all be grateful to the candidates for manifesting that willingness.

Having Trouble Accessing Realist2?

Please note that for Realist to work correctly on your computer, you must have an updated version of Flash. Members will need Flash 11 or high-er. You can check which version of Flash you have here: 

Miss the Realist Webinar?

 SFAR Members who want to learn more about Realist but missed the Webinar, can watch a pre-recorded Realist Training Session by clicking here:

You can get the new flash here:

If you are using Chrome, then you will have to enable the PepperFlash plugin.

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