Pasadena Real Estate Blog

Call your Legislators today to Ask that  the Point-of-Sale Provision be Removed from AB 2678!

There is a bill before our State Legislature, AB 2678 (Núñez), which among other things, requires that ALL homes and commercial property in California have an energy audit at point-of-sale and that mandatory energy efficiency investments be made. While we appreciate the goal of AB 2678, we strongly opposes the point-of-sale requirements in AB 2678 because they fail to achieve the bill?s objectives and, such mandates will further weaken the housing market. If enacted, AB 2678 could add thousands of dollars to the cost of purchasing a home, including up to $400 just to have a home audited. AB 2678 was passed by the Assembly Utilities committee. It will have a vote in the Assembly Appropriations committee before heading to a vote by the entire Assembly.

Contact  your Assembly member, and urge him or her to OPPOSE AB 2678 unless the point-of-sale requirement is removed.

ISSUE BACKGROUND

AB 2678 will require a state agency to set up a process to require point-of-sale energy efficiency audits that will cost up to $400 and ultimately will require point-of-sale energy efficiency retrofits that may cost THOUSANDS of dollars.

Don’t let this happen to you as a future buyer or seller (most of us are going to end up buying or selling a home at some point) – call your legislator TODAY!

While we have no objection to increasing energy efficiency, AB 2678 will be both dangerous to the real estate market and grossly ineffective. Here’s why AB 2678 is a bad idea:

AB 2678 will cost both buyers and sellers, in time, as well as money. Heaping costly requirements on all sales will slow every residential AND commercial transaction, further weakening the real estate market and the economy.

Point-of-sale approaches take too long. Research shows that only 22% of the properties most in need of energy efficiency retrofits will actually be sold by 2020. AB 2678 will be grossly ineffective in achieving its goals.

AB 2678 will hurt housing affordability. The mandatory audit and retrofit requirements ultimately created could add THOUSANDS of dollars to every transaction. And every $1,000 increase in the price of a home disqualifies 26,600 families from owning.

Call your Legislators today, and help stop this ill-advised bill.