The Issues Highlighted at the Great American Realtor Days in Tallahassee.

 

So I went over to Tallahassee the past couple of days and participated in the Florida Realtor’s “Great American Realtor Days”, or “Rally In Tally” it was by all measurable standards an “interesting experience”. The purpose of this event was for  Realtors to visit the Capitol to meet with and lobby legislators on pending real estate legislation. What pending legislation you ask?

• HP7093/SB1622 or what I’ve come to call the clearing house bill designed to get people off of the State ran home insurance program and get them into a private insurance program. Florida Realtors wants this to be passed, and so do I. But my reason isn’t because Florida Realtors says that they support it, but because of January 31, 2013, Citizens is the largest property insurer in Florida with almost 1.3 million policies and over $418 billion in exposure. That means if we have a bad hurricane season, the state of Florida takes a massive financial hit, and I’m against that, and guess who’s paying that bill?  FR: Yes / Justin: Yes

• HB211/SB234 this one is tricky to me, but this one allows the Florida Insurance Guaranty Association (FIGA) to collect assessments directly from policyholders. Florida Realtors supports this one, I dont think that I do, I’m open to changing my mind, but at this point I’m going with a big fat “NO” on this one. FIGA is a nonprofit organization that pays on the behalf of insolvent insurance companies. Who guarantee insurance policies for homeowners. That sounds great right? Well yeah until FIGA comes in and slaps everyone in your neighborhood with a $250.00 assessment, and if you don’t pay it? Your insurance provider is to penalize you in the same way they would if you missed a principal insurance payment. I think that this bill was made with great intentions but, I don’t have a contractual agreement with FIGA, and I’m not okay with them riding in and slapping me with an assessment because they need some cash. FR: Yes / Justin: No

• HB1247/SB1248 the Florida Public Hurricane Loss Projection Model. In this bill we are asking our representatives to build a model to require insurance companies to standardize the way they assess risk on properties and to include storm surge and rain WITH wind. This will better identify risks associated with hurricanes and allow for better estimate the maximum loss that should be insured. Florida Realtors supports this, and I must certainly do not. I say that we should give a tax incentive to companies that do this on their own. But that’s not all this bill is about, this bill has $10 Million dollars associated with it and that money goes to a hand full of organizations all with a hand in Hurricane preparedness, I’m a financial conservative, and I’m a libertarian so I’m not into throwing money around, and I’m not for MAKING an insurance company do anything.  FR: Yes / Justin: No

• HB 629 /SB 656 this bill is focused on phasing out the sales tax over a six year perior. In 2013 the sales tax on commercial leases is estimated to cost Florida businesses 1.3 BILLION dollars. I’. naturally all for it, because I’m FOR people keeping their money, however our representatives are doing this, with an expectation to tax sales done on the internet to make up the difference. My recommendation is that my representatives NOT SUPPORT THE SALES TAX ON INTERNET SALES until we begin phasing our the sales tax on commercial leases.The Florida Realtors support this, and so do I with an asterisk because this legislation would help economic development councils and industry groups attract new businesses to their regions. FR: Yes / Justin: Yes*

Finally, the Sadowski Affordable Housing Trust Fund was discusses at great length. Here’s the background, in 1992, Realtors strongly supported an increase in the documentary stamp tax on deeds for all real estate transactions by 10 cents per $100 of value IF all of the monies collected went to affordable housing programs. Well that hasn’t been the case since 2002. They had to do some “reallocation”. Naturally, your’s truly had a problem with this. Now, during the years of state budget shortfalls legislators swept Sadowski monies into  general revenue. Wha what? Well this year, there’s a $1.1 billion surplus. Surplus in government you ask? Why yes it is possible. Yet, there’s talk of taking $200 million from the fund to pay for other “priorities.” Well affordable housing IS a priority — for the elderly on fixed incomes and low-income families*. Affordable housing IS a priority for teachers, firefighters, first responders and others who serve our communities. Otherwise, it’s just a tax paid by homeowners. IF you want to find “other” priorities, how about you use that money and help out the 40.2% of Florida Homeowners who are underwater?

In closing it was a good event, I’m not sure what we did because we only talked to people who believe what we believe. If I was running this thing, we would be letting you know those representatives who are against these things, and we would have gone and knocked on their doors and asked one simple question. Why are you against home ownership? Have a great day everybody!!