With ‘global warming,’ we have entered the age of the ‘big con.’ :)
The Kaifornia State Assembly passed a bill a week ago today—44 to 33— numbered AB 2678.
This bill will require that all sellers of property=residential and commercial, to submit to a state run audit of the energy efficiency of the structures. Then, after you have obtained your “audit”, you are mandated to retrofit your building(s) before you can sell them. It is called a “Point of Sale” audit, not an energy audit. Great deception.
There are no such employees at this time at the State of Kalifornia, as far as I know. Where are they coming from? What is the length of their “expert training”?
The “energy efficiency standards” is a moving target- rapidly moving with technology.
If you are in a divorce and have to settle assets divestiture by selling the house you co-own, this divorce will be delayed.
If you are in probate with Granny’s 60 year old house—GOOD LUCK.
The additional costs of trying to bring your property up to a “current energy standard” could well exceede anything you as the seller can afford, and there is no guarantee that your buyer will be willing to pay for these changes.
The “contractors” will have a field day because you are now a captive audience upon which they can charge whatever they want, knowing that you are MANDATED to do this retrofit.
If you have worked hard inproving your education to get that big job promotion and a transfer to another state, you will now not be able to transfer because you cannot sell your house nor afford to retrofit it to the moving standard of “energy efficiency”. Again—Good Luck.
The real estate market in Kalifornia will stop in an instant, and the lending market will be similarly affected.
The politicians are pandering to the gullible public who have been drinking the Global Warming Kool Aid, and the devastating fallout from this kind of legislation will put an already broken economy into the dumpster. Kalifornia is totally broke now. This will break it further, and the possibility of this cancer spreading across the nation is very real.
This has to be stopped in it’s tracks in the Kalifornia Senate.
There has been no publicity on this bill, and it has been kept deep under the radar. I have no confidence that the Governor will refrain from signing this bill, and I don’t know if it is veto proof.
If you know anyone in the real estate business or the lending and banking business, please inform them that this bill- AB 2678- is lurking in the Kalifornia state legislature.