In 2013, Kauai Board of Realtors President Donna Rice envisioned more than just politics in real estate with her motto of “Mobilize for Action.” President Rice reached out to the Realtor membership and politicians on issues that impacted real
In 2013, Kauai Board of Realtors President Donna Rice envisioned more than just politics in real estate with her motto of “Mobilize for Action.”
President Rice reached out to the Realtor membership and politicians on issues that impacted real estate on Kauai and set her goals to be at the forefront of changes in the industry.
With a plan in place, the Kauai Board of Realtors established a partnership two years ago with the Kauai Chamber. Forums were open to the public addressing issues at the national, state and local levels. The Government Affairs Committee under the supervision of current President F. Lee Morey came up with her motto “Embrace Change,” working diligently to provide updates to the membership and other organizations and, forming a stronger partnership to educate the public and Realtor members on issues that will lead to positive changes in our communities.
Issues pertaining to disclosure in real property transactions (buffer zones, pesticides, etc.) and input to assist in the development plans for the future of the entire island beginning with Kalaheo/Poipu and Lihue/Wailua.
At the state level, a committee is monitoring and tracking issues at the Legislature pertaining to rental transaction discrimination based on the source of income; prohibited evictions for medical marijuana; protected categories in public accommodations for the homeless; solar shade controls; unpaid community association assessments; increasing the monetary jurisdiction limit in small claims court and energy conservation/cool roofs.
At the national level, the National Association of Realtors continues to closely monitor two issues including the Dodd Franks Wall Street Reform Act and the Biggert Waters Reform Act of 2012.
The Dodd Franks Wall Street Reform Act establishes a Qualified Mortgage Rule which supports the concept that lenders must measure a consumer’s ability to repay a loan. The Biggert Waters Reform Act of 2012 has a huge impact in our local market for properties located within the flood zones. In some instances, real property mortgage holders within the flood zones have seen their insurance rates increase as much as three times the amount.
As a result and urgency of the situation, immediate action was taken by the National Association of Realtors to submit written testimony to Congress requesting a delay in any insurance rate increases until the Federal Emergency Management Agency can provide a report to Congress regarding the impacts as required by the law. For more details, contact your Realtor.
• Karen Ono is executive director of the Kauai Board of Realtors.
