Contact: Mike Kelly FOR IMMEDIATE RELEASE
ALLISON NORMAN OF KELLER WILLIAMS DESIGNATED AS “EMERGING LEADER” BY THE NORTH BAY ASSOCIATION OF REALTORS (NORBAR).
Converges on Sacramento with 2500 other Realtors speaking to Legislator’s on private property rights on May 1st, 2013
Allison Norman, Realtor and one of the North Bay Association of Realtor’s up and coming leaders, attended the annual Legislative Day in order to press the issues of private property rights of real estate homeowner’s. Norman, Realtor at Keller Williams Realty, was chosen for her civic involvement and commitment to the Realtor code of ethics and her many homeowner clients. This annual event put on by the California Association of Realtors (CAR) featured a greeting by Governor Jerry Brown. Governor Brown stated when he was first Governor in 1975 he was committed to getting out the “old boy” network. Now he states, “There’s no substitute for Experience”. The Governor stated he is on track to lower the debt of the state and renovate an aging school system.
Norman Noted that many Bill’s introduced yearly by legislators with “point-of-sale” requirements force homeowner’s to add additional fees to the cost of Selling or buying a home. Such “point-of-sale” requirements can add $100’s of dollars to Seller’s already reeling from 6 years of decreasing home prices and shrinking home equity. The CAR has successfully fought these bills over the years saving the consumer $1,000’s of dollars in each transaction.
One of the main issues currently in Sacramento of major concern to Norman is the “Debt Relief” extension NOT yet ratified by the legislators. On the national level the “Debt-Relief” extension was extended by Congress to the end of 2013. However California has YET to extend this valuable aid for “underwater” homeowners facing serious tax consequences when selling their home for LESS than what is owed. The difference between the sales price and loan amount, usually a negative number, is considered “Debt Relief” and is treated as ordinary income. Norman noted that a homeowner selling a home for $300,000 with a $400,000 loan would have “debt-relief” of $100,000. In California this would be subject to income tax as ordinary INCOME for the year 2013.
Norman will be attending CAR meetings through the week. She is available for comments on her experiences at the meetings. Allison Norman, a Realtor exclusively in Sonoma County for 8 years, works with relocating home buyers and International clients.
If you would like more information on this topic or to schedule an interview with Allison Norman, please call her direct at 707-799-3617 or AllisonNorman@kw.com