As part of her State of the State address, Governor Janet Napolitano made mention of a new creation – the Arizona Homebuyers’ Bill of Rights.
From her speech today:
“… the Department of Real Estate, at my direction, has created the Homebuyers’ Bill of Rights. It is available now, on the Web and in print, and it gives homebuyers information about roads, water, police and fire services and more. It’s a tool for making educated financial decisions…”
I’m trying to get excited about this but can’t seem to get there. While it’s certainly better then Redfins’ all-but-ignored so-called Consumer Bill of Rights, the Arizona Homebuyers’ Bill of Rights isn’t substantively different than the existing Buyers’ Advisory available through the Arizona Association of REALTORS.
Whether there’s a grocery store nearby is good information but it’s also the kind of thing that easily can be determined by driving a neighborhood. Either there’s a Safeway on the corner or there’s not.
(Is there liability for such a thing? “The state told me there was an Albertson’s on the corner and I bought here because of it but now it’s three months later and they’ve closed the store in a restructuring.” Just a thought.)
Governor Napolitano also called on the Legislature to pass a bill requiring loan officers to be licensed. If nothing else, such a bill would provide the state with a hammer – taking away the livelihood of those found negligent – similar to the hammer they hold over real estate licensees.
Should be an interesting legislative session.[h/t to Dru Bloomfield’s At Home in Scottsdale for the first report.} [tags]Phoenix real estate, Arizona Legislature, Arizona Homebuyers’ Bill of Rights[/tags]