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Silicon Valley Association of REALTORS® (SILVAR) Legislative Committee members, including President-elect Mary Kay Groth, met with U.S. Representative Anna Eshoo on Wednesday at her Palo Alto office and discussed federal priorities for REALTORS® during the summer recess. These included the cap on state and local tax (SALT), mortgage interest deduction, and flood insurance, several other topics related to the Federal Housing Administration (FHA) and how support homeowners.

Eshoo said the good news is flood insurance under House Resolution 3167, the National Flood Insurance Program Reauthorization Act of 2019, would be extended for five years and include funding to update flood maps and modernize the program. H.R. 3167 has cleared House committees and is awaiting a vote on the House floor.

Eshoo also expressed an interest on how mortgage financing could be eased and homeownership made more affordable to first-time homebuyers. H.R. 3141, the FHA Loan Affordability Act of 2019, would require FHA borrowers to pay mortgage insurance premiums only when their remaining principal balance exceeds 78 percent or more of the home value or sales price. Los Altos-Mountain View District Chair Greg Boudreau shared how a client of his refinanced and now had over 30 percent equity in their home, but would be required to pay mortgage insurance over the next 11 years, increasing their financing costs significantly.

Eshoo shared further information on the SALT Fairness Act, a bill she co-sponsored, which aims to reinstate the deductions that were lost during tax reform. This bill was introduced on a bipartisan basis and is awaiting committee action.

“Seldom does a bill impact so many of my constituents, and on average it costs homeowners in my district over $50,000 on an annual basis,” said Eshoo.

Eshoo represents U.S. Congressional District 18, which is located between the cities of San Francisco, Santa Cruz and San Jose, and includes portions of San Mateo, Santa Clara and Santa Cruz counties.

Meeting with Congresswoman Eshoo were President-elect SALT Fairness Act , Region 9 Chair Denise Welsh, NAR Director Leannah Hunt, Federal Political Coordinator for Congresswoman Eshoo Carole Feldstein, Los Altos-Mountain View District Chair Greg Boudreau, Palo Alto District Chair Lynn Wilson Roberts, Los Altos-Mountain View District LC Chair Barbara Williams and Menlo Park-Atherton District LC Chair Chris Isaacson.

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The Silicon Valley Association of REALTORS® (SILVAR) 2019 leadership team was installed last night at the Los Altos Golf & Country Club. California Association of REALTORS® (C.A.R.) 2019 President-elect Jeanne Radsick administered the oath of office to SILVAR President Alan Barbic and the 2019 officers and board directors. C.A.R. 2005 President Jim Hamilton served as master of ceremonies and welcomed members and guests at the special event. Immediate Past President Bill Moody led everyone in the Pledge of Allegiance and 2019 President-elect Mary Kay Groth delivered the inspiration message.

SILVAR’s 2019 officers include Barbic, a broker associate with Sereno Group Los Gatos; Groth, a REALTOR® with Sereno Group Los Gatos, President-elect; and Jeff Bell, a REALTOR® with Coldwell Banker Residential Brokerage Cupertino, Treasurer.
Joining SILVAR’s lead officers are Moody (Referral Realty), Past President; Denise Welsh (Alain Pinel Realtors), Region 9 Chair; Leannah Hunt (Sereno Group), NAR Director; Jasmine Lee (Coldwell Banker Residential Brokerage), Menlo Park-Atherton District; Lynn Wilson Roberts (Compass) Palo Alto District; Greg Boudreau (Coldwell Banker Residential Brokerage), Los Altos-Mountain View District; Jim Light (Jim Light Broker), Cupertino-Sunnyvale District; Jim Hamilton (Alain Pinel Realtors), Los Gatos-Saratoga District; Directors At-large Mark Burns (Referral Realty), Joanne Fraser (Alain Pinel Realtors), Katherine Frey (Katherine Frey Real Estate), Penelope Huang (Golden Gate Sotheby’s International Real Estate), and Karen Trolan (Alain Pinel Realtors).

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In Los Gatos, Jim Hamilton, who served as auctioneer, reminded members the money raised will go to needy children for presents during the holidays.

The month of October ushers in holiday festivities, beginning with Halloween. It is also the time when members of the Silicon Valley Association of REALTORS® (SILVAR) help make sure the holidays are brighter for families in the communities where they work and live.

This week SILVAR’s Los Gatos-Saratoga District topped last year’s proceeds at its annual Pumpkin Auction, raising $7,000 for the Family Giving Tree for Operation Reindeer. California Association of REALTORS® 2005 President and District Chair-elect Jim Hamilton was able to encourage members to be generous this year and think of the children.

“Open your wallets, open your hearts. It’s for the kids,” said Hamilton.

Operation Reindeer, now coordinated by the Family Giving Tree, is a program that distributes gifts, including food certificates, to needy families and seniors in the community during the holiday season. REALTORS® and affiliates of the Los Gatos-Saratoga District have supported the program for more than 20 years.

Toward the end of the auction, Jim Myrick shared his own experience of being grateful as a child for receiving presents through the program. After sharing his story, Myrick invited members to stand up and pledge $10 each and followed with a “Heads or Tails” fundraising game. The generous contributions from members and the pledge of brokers Brian Crane with Intero Real Estate Services, Doug Evans with Coldwell Banker and Mark von Kaenel with Keller Williams Bay Area Estates to double members’ pledges brought the auction to the $7,000 amount.
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Here Greg Boudreau, who served as auctioneer in Los Altos, enticed members to bid by mentioning the prize the next auction item offered.

In Los Altos last Friday, SILVAR’s Los Altos-Mountain View District’s 6th Annual Pumpkin Auction did not disappoint members either. The event was festive with some members dressed in costumes and many auction items donated by local companies and individuals. The crowd was engaged and did not hesitate to raise their paddles when egged on by auctioneer and District Chair-elect Greg Boudreau. The District raised $5,500 for the Silicon Valley REALTORS® Charitable Foundation, thanks to the generous donors and bidders, including members who donated to the Charitable Foundation without expecting an auction item in return.

The auction items included a wine and dine basket, children’s fun basket, teal hand-blown pumpkin, Dom Pérignon champagne, La Rochere champagne flutes, gourmet food items, Star Wars Steins Collectibles Set of Three and gourmet items, sets of Windsor Village platinum status wine with free wine tasting, an electric LED water vapor effect smoking pumpkin, and more. The top prize was a Tahoe Getaway – two-night stay at Tavern Inn condos in Squaw Valley, plus a $100 gift card for a meal at the Tahoe River Grill and lots of other goodies donated by Golden Gate Sotheby’s International Realty.
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On top of these donations, at SILVAR’s Oktoberfest Happy Hour to Benefit the Silicon Valley REALTORS® Charitable Foundation, members raised $4,000, bringing to total amount of donations to $16,000 just this month! The Silicon Valley REALTORS® Charitable Foundation thanks everyone who contributed at these events and all the event organizers.

The Silicon Valley REALTORS® Charitable Foundation is a trust that makes grants available to organizations from donations by realtors and affiliate members of the Silicon Valley Association of REALTORS®. The Charitable Foundation also awards $1,000 scholarships each year to 18 graduating seniors from public high schools in Silicon Valley.

 

 

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