In this Issue:

* C.A.R. TO ROLL OUT GREEN INITIATIVES IN 2008

* PENDING HOME SALES UNCHANGED IN JANUARY

* C.A.R. TREASURER DISCUSSES HOME PRICING ON CBS

* ANDERSON FORECAST SAYS HOUSING CRISIS TO EASE, NO RECESSION IN 2008

* WEBINARS AVAILABLE FOR FORMS ADVISOR AND TUTOR PROGRAMS

* CONSUMER CONFIDENCE IN CALIFORNIA DECLINES

* C.A.R. ANNOUNCES SPONSORSHIP OF NEW STATE MEASURES IN 2008

* NAR COMMITTEE LEADERSHIP RECOMMENDATION FORM AVAILABLE

* C.A.R. PUBLISHES NEW REO TRANSACTIONS ARTICLE

* CONSUMER COUPONS FOR HOME BUYER'S FAIR AVAILABLE

C.A.R. TO ROLL OUT GREEN INITIATIVES IN 2008 In the coming months, C.A.R. will distribute information about "green"

issues in an effort to raise member awareness about environmentally sound practices. This new initiative is part of the mission of the Association's Green Task Force established earlier this year by C.A.R. President William E. Brown.

The three-pronged mission of the Green Task Force is to encourage the greening of C.A.R. business practices; raise awareness and educate members and consumers about environmentally sound practices, and encourage C.A.R. to form strategic alliances in support of environmentally sound practices.

Beginning next week, each edition of C.A.R. Newsline will contain "green tips," or facts and advice designed to assist you in greening your business practices and better serving your green-minded consumers. In the coming weeks, C.A.R. will launch a green blog, an interactive forum where you can learn more about these subjects and will be invited to comment on and discuss green real estate topics. In addition, C.A.R. members who subscribe to ClientDIRECTTM, a free agent-branded online newsletter that is automatically sent to their clients every month (http://www.realtydirect.net/signin.asp), will notice a green-related article each month, aimed at educating consumers about green real living and building.

In the coming months, look for a green-themed issue of "California Real Estate" magazine, a green Web site, green-focused seminars at 2008 CALIFORNIA REALTOR(R) EXPO, and much more.

PENDING HOME SALES UNCHANGED IN JANUARY

The January Pending Home Sales Index remained unchanged from December, holding at 85.9, but remained 19.6 percent below the January 2007 reading of 106.8, according to NAR's latest report.

"This additional sign of a stabilizing market is encouraging, and our members are telling us there's been a pickup in shopping activity," said Lawrence Yun, NAR chief economist. "Our hope is that the increased traffic of buyers looking at homes will translate soon into more contract offers."

More info:

http://www.realtor.org/press_room/news_releases/2008/flat_existing_home_sale

s.html

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C.A.R. TREASURER DISCUSSES HOME PRICING ON CBS C.A.R. Treasurer Beth Peerce recently spoke with CBS Channel 2 News in Los Angeles about the importance of appropriately pricing a home to sell in today's real estate market.

To link to the story, click on the text under "In the News" on the home page of C.A.R. Online at www.car.org, or go directly to http://www.car.org/?id=MzgzNDQ=.

More info: http://www.car.org/?id=MzgzNDQ=

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ANDERSON FORECAST SAYS HOUSING CRISIS TO EASE, NO RECESSION IN 2008 The housing market woes are expected to begin easing up by late 2008 and, despite mounting job losses and fuel and food cost increases, the country will avoid a full recession, according to the UCLA Anderson Forecast report released Tuesday.

"Our no-recession forecast remains nervously intact," said UCLA Anderson Forecast Director Edward Leamer. "We see a lot of problems in the first half of 2008 as housing remains a drag on GDP growth and weakness in personal consumption contributes as well. We expect one quarter of negative GDP growth. The Fed continues to dish out good news for Wall Street with ever lower interest rates. The labor market is sluggish and unemployment elevates to 5.5 percent by the end of 2008. But the housing drag on GDP dissipates in the second half of the year and a normal economy returns in 2009."

More info: http://www.anderson.ucla.edu./x19722.xml

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WEBINARS AVAILABLE FOR FORMS ADVISOR AND TUTOR PROGRAMS Join the hundreds of C.A.R. members who have already taken advantage of the Webinars scheduled to allow members to preview the new Forms Advisor and Forms Tutor programs, two new, exciting, and free member benefits making their debut April 1.

The new Forms Advisor and Forms Tutor programs are components of the C.A.R.

WINForms(R) member benefit. Forms Advisor was designed to help REALTORS(R) determine which form to use during any stage of a real estate transaction (purchase, lease, and office administration). The Forms Advisor also identifies when the C.A.R. forms library lacks a form appropriate to the unique circumstances of a transaction, and advises the member what to do in that case.

The Forms Tutor companion was developed to assist new members through the process of completing forms in the C.A.R. forms library. Forms Advisor and the Forms Tutor companion will play a crucial role in helping members mitigate risk. In addition, if you are a broker or a leader of your local association, you also may integrate customized forms and local disclosures into the Forms Advisor program, offering members your local version of this exciting new program.

Three Webinars on how to use the Forms Advisor and Forms Tutor programs have been scheduled. Click on the appropriate link below to register.

Friday, March 14 at 10 a.m.

https://www1.gotomeeting.com/register/500508295

Tuesday, March 18 at 2 p.m.

https://www1.gotomeeting.com/register/878691785

Thursday, March 20 at 2 p.m.

https://www1.gotomeeting.com/register/391244867

CONSUMER CONFIDENCE IN CALIFORNIA DECLINES Ongoing housing market uncertainty, ballooning fuel prices, employment insecurity, and a volatile stock market are negatively impacting Californians' expectations about current and future economic conditions, forcing a decline to 66.3 of the latest Anderson Center California Composite Index of Consumer Sentiment for the first quarter, marking the lowest level since the beginning of the survey in 2002.

More info: http://www1.chapman.edu/argyros/acer/CSResults_2008Q1.pdf

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C.A.R. ANNOUNCES SPONSORSHIP OF NEW STATE MEASURES IN 2008 C.A.R. has announced it will sponsor the following state measures during the

2008 Legislative year:

Assembly Bill 2259; Ownership Rights in a Common Interest Development (CID).

This bill calls for the protection of property ownership rights in a Common Interest Development by preserving an owner's right to lease or rent their unit if such a right existed at the time they purchased the unit.

Assembly Bill 2363; Megan's Law - "Just Cause Evictions" under Megan's Law.

This bill would require local jurisdictions with a "just cause eviction"

ordinance to permit landlords to evict a registered sex offender in order to protect a person at risk, as is permitted in existing law.

Senate Bill 1054-- Mortgage Loan Broker Disclosures. This bill would require a prominent disclosure to all parties whenever a broker, business entity, or licensee represents a buyer and originates a loan in a "1-4"

transaction. This legislation will help to alleviate the perceived conflict created by the loan originator's obligation to ensure that the loan application is accurate and adequately underwritten.

For more information about these bills and other C.A.R. sponsored measures, go directly to http://www.car.org/index.php?id=NTgx.

More info: http://www.car.org/index.php?id=NTgx

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NAR COMMITTEE LEADERSHIP RECOMMENDATION FORM AVAILABLE The C.A.R. Leadership Team has the opportunity to make a limited number of leadership recommendations to the NATIONAL ASSOCIATION OF REALTORS(R) (NAR).

If you are interested in having your recommendation of the Leadership Team submitted to NAR, please take time to complete the recommendation form. NAR is not obligated to accept C.A.R. leadership's recommendations, but it does provide an opportunity for the leadership of C.A.R. to support your application.

The deadline to submit the recommendation form to C.A.R. is on Wednesday, April 30, 2008. Please click on the following link for more information, or to download and print the recommendation form:

htp://www.car.org/index.php?id=MzU5NDk=.

More info: http://www.car.org/index.php?id=MzU5NDk=

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C.A.R. PUBLISHES NEW REO TRANSACTIONS ARTICLE C.A.R.'s Member Legal Services Team has published a revised legal article.

"REO Transactions." This article has been updated to clarify the ways of advertising cooperating agent commission on the MLS when offering less than a percentage of the gross sales price as commission. In particular, question 29 has been revised.

This article can be found on the What's New and Legal Articles pages of the Legal section on C.A.R. Online (www.car.org), or go directly to http://www.car.org/index.php?id=MzgyNDM=.

More info: http://www.car.org/index.php?id=MzgyNDM=

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CONSUMER COUPONS FOR HOME BUYER'S FAIR AVAILABLE In an effort to support REALTORS(R) and educate consumers about current opportunities in today's challenging real estate market, C.A.R., in participation with the Los Angeles Times, will present the Southern California Home Buyer's Fair for consumers Saturday, April 12, and Sunday, April 13 at the Los Angeles Convention Center in downtown Los Angeles.

The Southern California Home Buyer's Fair will feature more than two dozen educational seminars presented in English and Spanish for consumers, designed to address many of the concerns of first-time home buyers and arm them with all of the practical information they need to know as they begin the road to homeownership.

Admittance to the Southern California Home Buyer's Fair is free, however, event coupons are available. Member may obtain coupons from their local association, or download and print for distribution to their clients directly by going to www.homebuyersfair.com/pdfs/SCHBFCoupon.pdf.

In addition, the exhibit hall will feature nearly 75 exhibit booths where consumers can obtain information from industry experts about a vast range of programs pertaining to homeownership and the home-buying process.

For more information, visit www.homebuyersfair.com.

More info: http://www.car.org/index.php?id=MzgwODA=

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Calif. median home price - January 08: $430,370(Source: C.A.R.) Calif. highest median home price by C.A.R. region January 08: Santa Barbara So. Coast $1,135,000 (Source: C.A.R.) Calif. lowest median home price by C.A.R. region January 08: High Desert $234,310 (Source: C.A.R.) Calif. First-time Buyer Affordability Index - Third Quarter 07: 33 percent

(Source: C.A.R.)

Mortgage rates - week ending 03/06/08

30-yr. fixed: 6.03% Fees/points: 0.5%

15-yr. fixed: 5.47% Fees/points: 0.5%

1-yr. adjustable: 4.94% Fees/points: 0.5% (Source: Freddie Mac)

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The CALIFORNIA ASSOCIATION OF REALTORS(R) is a trade association

representing nearly 200,000 REALTORS(R) statewide.

Edited by Mark Giberson, markg@car.org

Executive offices: 525 South Virgil Ave., Los Angeles CA 90020

Phone (213) 739-8200; fax (213) 480-7724

Legislative offices: 980 Ninth St., #1430, Sacramento CA 95814

Phone 916-492-5200; fax 916-444-2033

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