Over 400 Massachusetts Realtors® Converged on Beacon Hill to Push for Land Use/Zoning Reforms and Mortgage Debt Relief
WALTHAM, Mass. – June 23, 2016 – (RealEstateRama) — Over 400 Massachusetts Realtor® -members traveled to the State House on Tuesday to participate in the 31st annual “Realtor® Day on Beacon Hill.” The Realtors® discussed key issues that impact consumers, housing and the economy. The 2016 keynote address was provided by Lieutenant Governor Karyn Polito.
“The huge showing of Realtors® from across the state made the statement that our members are willing to speak up for their industry, private property rights and home buyers and sellers,” said 2016 MAR President Annie Blatz, branch executive at Kinlin Grover Real Estate on Cape Cod. “We want to remind our legislators that keeping the American dream of homeownership accessible and affordable is a priority.”
Realtor®-members met with Massachusetts State Senators and Representatives to encourage them to support proposed legislation.
S. 3770 “An Act relative to discharge of indebtedness of principal residence from gross income,” would allow homeowners to complete loan modifications, short sales and foreclosures for which they have debt forgiven without making them liable to pay state taxes on the that debt. This bill would mirror the federal law, the Mortgage Debt Relief Act of 2007, to allow taxpayers to apply for this exclusion on their state tax return as well. Already released favorably from committee, Realtors urged House members to support the bill.
Senate H.3806 “An Act regulating secondary metals dealing,” would help prevent crime and increase safety in neighborhoods by making it more difficult to sell copper piping, wiring and other fixtures frequently stolen from vacant or foreclosed homes. The absence of these materials in these homes, and the subsequent destruction that results from their removal, make these vacant homes unable to qualify for a traditional mortgage loan. As a result, home values in those neighborhoods lose value. This bill seeks to halt and reverse this problem by creating a second-hand metal dealer registry, which would require scrap metal dealers to keep a log of information from all transactions. Both the House and Senate have passed versions of this legislation and Realtors urged legislators to reconcile the differences and pass a final bill before the session ends on July 31st.
Realtors also urged legislators to oppose a zoning bill, S.2311, entitled An Act promoting housing and sustainable development. One of the many issues driving the reduced housing stock is the presence of barriers to production, many of which are found in current zoning laws and expanded upon in this legislation. If enacted, this bill would have a significant negative impact on real estate development and affordability. MAR has been involved in the discussion of land use reform for many years, and we recognize that our land use laws need to be updated and streamlined. However, we cannot support this bill as drafted for several reasons. For example, this legislation does nothing to prevent municipalities from continuing the practice of imposing arbitrary and ad hoc mitigation requirements on development—a practice that hinders the development of needed housing and commercial growth. Additionally, the bill as passed by the Senate allows municipalities to impose inclusionary zoning requirements on housing development without providing any concessions.
(To find detailed information on Realtor® positions, go to https://www.marealtor.com/members/government-affairs)
About the Massachusetts Association of REALTORS®:
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 22,000 members. The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.
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Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook.
by Eric Berman – eberman (at) marealtor (dot) com – 781-839-5507
