Your Advocacy At Work! Ohio Passes Landmark Bill Regulating Wholesaling

 

Local-

Pickaway County, Circleville poised to address growth in the county, city

  • The City of Circleville continues to see significant development across the community. Several residential and commercial projects are approved or under construction. Notable developments Circleville is seeing includes: 
  • New Single-Family Neighborhoods 
  • Multi-Family Housing 
  • Commercial additions, such as Bojangles and RaceTrac 
  • The City is also considering the rezoning of two properties for future parkland
  • Columbus REALTORS® Staff will continue to monitor.

 

State-

Ohio Passes Landmark Bill Regulating Real Estate Wholesaling

  • This week, the Ohio Legislature passed a bill attempting to crack down on the unregulated practice of real estate wholesaling. The legislation, which has been a priority for Ohio REALTORS® for years, marks the first time Ohio has ever attempted to protect consumers from the predatory practice of wholesaling in the real estate industry.
  • The legislation, introduced by Senators Andy Brenner (R-Delaware) and Katherine Ingram (D-Cincinnati), would require wholesalers to provide a new disclosure to the property owner before they can enter a contract to transfer the property.
  • Once signed by Governor DeWine, the legislation will take effect in 90 days. 

 

National-

Home Buyer Data Shows Urgency in Fight for Affordability

  • With first-time buyers making up the lowest share of buyers since NAR began collecting data, NAR-supported affordability solutions must become a priority forfederal, state and local governments.
  • A recent report from the National Association of REALTORS® shows that first-time home buyers over the past year made up just 21% of the homebuying market—a new low—and the average age of first-time home buyers has reached a new high of 40, up from 38 last year.
  • For years, NAR has been pressing policymakers to take the affordability crisis seriously, advancing bipartisan policies that would expand access to ownership, promote more housing construction, and unlock affordable supply. 

Find us on social media: