REAL ESTATE INVESTMENT

Greater San Diego Association of REALTORS® Announces More Than $1 Million in Grant Funds to Defend Coastal Communities and Property Rights

Greater San Diego Association of REALTORS® | December 09, 2021

Greater_San_Diego
The Greater San Diego Association of REALTORS®  (SDAR) announces an additional grant support for Smart Coast California, a 501(c)(6) organization founded by REALTORS® in response to sea level rise policies impacting coastal communities and property owners. The most recent grant in the amount of $495,000 was approved by the National Association of REALTOR® (NAR) on December 2, bringing the total grant awards this year to $1.07 million.

SDAR President Carla Farley also serves as the 2021 President of Smart Coast California. The organization was founded in 2019 to monitor coastal policies and be a strong voice advocating for the protection of communities and the property rights of homeowners. Smart Coast California membership includes 29 local REALTOR® associations along California's 1,100-mile coastline.

"The Greater San Diego Association of REALTORS® is not only the voice for real estate professionals, but also for property owners throughout San Diego County.We helped to form Smart Coast California to ensure a strong, unified voice was in place up and down California's coastline in defense of property rights and of our coastal communities."
-Farley

Previous grant funds totaling $300,000 were approved on October 5 by the California Association of REALTORS® (C.A.R.) IMPAC Trustees. The organization was earlier awarded $212,000 in August by NAR. The funds will be used to enhance monitoring capabilities, expand advocacy initiatives, and grow the organization.

"Few individuals are aware of some of the controversial policies being advanced by the California Coastal Commission, including managed retreat, which would require the removal of needed protective devices, such as sea walls," explained Farley. "These policies are an affront to property rights and would prevent our coastal communities and property owners from defending their homes and neighborhoods from rising seas," she continued. "Through Smart Coast California, we monitor and respond to the actions of the California Coastal Commission and advocate for balanced coastal management policies that will protect the unique character of our coastal communities and the property rights of the individuals who call these areas home."

At issue, the California Coastal Commission (CCC) is working with California's coastal cities and counties to update their Local Coastal Programs (LCPs) to account for sea level rise. Among the more controversial policies the CCC is recommending is "managed retreat," a coastal management policy that calls for relocation or removal of coastal structures, including homes, inland away from rising tides. This issue led to a decision on June 7 by the Del Mar City Council to withdraw their proposed update to their LCP, refusing to accept the CCC's recommended policies. Del Mar is now one of several cities who have withdrawn their proposal from consideration by the CCC.om

"We've been tremendously active up and down the coast over the past 18 months, including weighing in on 16 local coastal plans as well as several related California Coastal Commission actions and state legislative proposals,The support we've received from our state and national associations, in conjunction with the funds from our coalition of local REALTOR® associations throughout the state, is instrumental to the success we've enjoyed this year and expect to continue in the years ahead."
-Farley

Spotlight

Since the instant the Big Bang created the universe, scientists assert that it has been expanding for 13.7 billion years. The same cannot be said of the real estate markets. For more than 200 years, the average full U.S. real estate cycle runs its course, from peak to trough and back again to peak, every 18 years.1 That is what is so remarkable about the historically long upturn in real estate we are currently experiencing. It began with the recovery and stabilization following the housing market collapse in 2007. Now, a decade later—when we might expect the industry to plateau or even decline—it shows few signs of slowing down.

Spotlight

Since the instant the Big Bang created the universe, scientists assert that it has been expanding for 13.7 billion years. The same cannot be said of the real estate markets. For more than 200 years, the average full U.S. real estate cycle runs its course, from peak to trough and back again to peak, every 18 years.1 That is what is so remarkable about the historically long upturn in real estate we are currently experiencing. It began with the recovery and stabilization following the housing market collapse in 2007. Now, a decade later—when we might expect the industry to plateau or even decline—it shows few signs of slowing down.

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REAL ESTATE INVESTMENT

Harbor Group International, Cammeby's Acquire New Jersey Portfolio for $1 Billion

Harbor Group International, LLC | September 02, 2021

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REAL ESTATE TECHNOLOGY

With Chainlink, SmartZip Brings Real Estate Data to the Blockchain

SmartZip | May 11, 2021

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