THE LAFAYETTE REPORT

The Missouri Association of REALTORS, sponsor of a proposed state constitutional amendment to prohibit transfer taxes on the sale of real estate, announced today that it would file a lawsuit challenging the Missouri Secretary State's rejection of the ballot petition due to insufficient signatures.  On Monday, the Missouri Secretary of State announced that the ballot petition, known as Vote “YES” To Stop Double Taxation, failed to secure enough signatures of registered voters to qualify for the November ballot.

The Vote “YES” To Stop Double Taxation Committee collected thousands of petitions across six of the state’s nine congressional districts. The Committee plans to file a lawsuit in Cole County Circuit Court, asking that the petition signatures be declared sufficient. The suit will also ask the court to count signatures rejected by the Secretary of State due to petition circulators not being registered with the state.

“With the large volume of thousands of signatures of supportive voters and the deadline pressure scores of local election authorities faced to check the signatures, there will inevitably be mistakes, and we believe mistakes happened,” said Chuck Hatfield, attorney for the Vote “YES” To Stop Double Taxation Committee. “We owe it to the tens of thousands of Missouri voters who signed the petitions and worked hard on the issue’s behalf to go out and review the signatures and correct the mistakes,” Hatfield said. “We are committed to putting this important question before voters, so they have a chance to protect themselves from double taxation.”

Missouri remains among just 13 states that do not impose a transfer tax on real estate sales. The past legislative session included several proposals to impose a transfer tax on new construction. Lafayette Square REALTOR Michelle Silies commented "the imposition of a tax on the on the sale of real estate will only increase the costs associated the sale of one's home." Ms. Silies further stated "proposals for transfer taxes could not come at a worse time for homeowners already trying to sell their home in this challenging market."

Learn more about the amendment at www.YesToSaveHomes.com.

HISTORY OF WATER TOWER:  This 154 foot Corinthian brick column, known as the North St. Louis Water Tower, is located at North Grand Blvd. and 20th Street in North St. Louis.  The water tower was built in 1871 at a cost over $45,000.  From 1871 to 1912, the water tower was used to create pressure to pump water from the Mississippi River at Bissell's point to the Compton Hill Reservoir at South Grand Blvd. and Arsenal.  It was taken out of service in 1912 when electric water pumps replaced the original stealm pumps at Bissell's point.  In 1929, it was put back into service as an air beacon.  After being threatened with demolition, it was listed on the National Register of Historic Places in 1970.

This month, we focus on a local non-profit Web Innovations and Technology Services ("WITS") who is the largest non-profit electronics recycler in Missouri.  Under Missouri law, electronic equipment such as computers, televisions, cell phones, cordless telephones, and monitors are classified as "hazardous waste" and must be collected and disposed by regulated collection sites because electronic equipment often contains heavy metals such as cadmium, lead, and even PCBs. Although there are a number of commercial electronics recyclers in the St. Louis area, there is only one with a strong track record of re-use and recycling.

Here are some of WITS' achievements:

• In 2009, WITS refurbished and reused over 3,500 computers and other electronics. Since 2004, WITS has refurbished and reused over 20,000 computers and electronics. These refurbished computers and electronics have been sold or given away to residents in local communities.
  
• Over 8,000 volunteers and residents have helped promote or support WITS or donated to WITS programs.
  
• In 2009, WITS diverted over 6.5 million lbs of electronic components from landfills and waste streams by refurbishing electronics, by disassembling electronics, and by re-manufacturing products for other uses. Since, 2004, WITS has diverted over 20.5 million lbs. of electronic components from landfills and waste streams.
• 65% of electronic items donated to WITS are reused. 35% of electronic items donated to WITS are demanufactured and sold for new product uses.
  
• WITS has created over 365 new jobs since its inception.
• 1,250 low-income families have volunteered at WITS events to earn a computer, TV or other working electronic item. 

Here are some of the ways that St. Louis real estate professionals can benefit from WITS' recycling programs:

• Electronic Disposal: Dispose of old, used and inoperable electronic equipment in a safe, environmentally friendly manner. Other commercial recyclers charge disposal fees. WITS does not charge for the disposal of most electronic items delivered to the WITS' facility or delivered to a WITS' collection site.
  
• Tax Donation: Receive a charitable donation letter summarizing the fair market value of the donated item for use as a charitable tax donation
  
• Onsite Electronics Pick-Up: If you require pick-up service, WITS charges $50-$100 per box truck for all business pickups, $30-75 for residential pick-up with a 1 hour drive.
  
• Purchase Refurbished Electronic and Other Items: Purchase refurbished computers (from $60), laptops (from $100), and LCD Monitors (from $25). Other items including televisions, radios, stereos, fans, heaters, lawn equipment, etc. are available starting at $5.
• Home CleanOut: If you work with seniors or sell home in probate estate, WITS offers a low flat fee ($100) pick-up service of all household items. WITS then repackages and delivers such non-electronic items as clothing, household furniture, etc. to other non-profits.
  

Other WITS's programs:

• Volunteer for Computer Program: Volunteers who agree to work at WITS' facility or WITS' events for 65 hours receive a free computer or other electronic item. Senior, veteran and disabled volunteers can work from home placing telephone calls and earn a free computer after 45 hours of volunteer time.
• Student Program: Eligible low income students accepted to college and maintain a B+ average receive a free computer.
• Kids with Kancer Program: Chronically ill children age 8 to 18 suffering from cancer and hospitalized or receiving full-time home care are eligible to receive a free laptop.
• Seniors Program: WITS receives applications from seniors and donates 1 computer system per month to seniors in need of a computer.
  
• Computer Exchange: Non-profit organizations, schools and churches can exchange used, old and inoperable computers for new computers.
  
• Revenue Sharing: Non-profit organizations, schools and churches can act as event organizers or collection sites and receive a percentage of the income generated from the recycling of electronic items. 

If you are interested in learning more about WITS, visit their facility at 647 E Holly Avenue, St. Louis, MO 63147 (2 blocks from N. Grand and Hwy 70), their website at www.witsinc.org, or their upcoming recycling event in Belleville, Illinois on August 8 or Chesterfield, Missouri on August 28.

This site provides you with an estimated value based on modeling. The comparable sales used to determine the estimated market value may or may not be comparable and the estimated fair market value may not reflect recent changes in market conditions. In addition, the estimated market value and the optimum list price may be different. Data provided by First American Core Logic. Home valuation provided courtesy of PREA Signature Realty.

Need a more precise analysis of the optimum list price for your historic home, townhome, condominium or loft in the City of St. Louis? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or via e-mail to Ryan@PREASignatureRealty.com.

The following recent court decisions may be relevant to your real estate practice in Missouri:

• City's real estate "for sale" restriction requiring a certificate of code compliance prior to marketing a home for sale declared invalid.  City of Bellefontaine Neighbors v. Scatizzi, Appeal No. 92965 (Missouri Court of Appeal Eastern District)
• Attorney's fees incurred to clear title due to filing of invalid mechanic's lien claim recoverable as special damages in slander of title case.  Lau v. Pugh, Appeal No. 29289 (Missouri Court of Appeals for the Southern District)
• Lender may sue original owner for fraud and negligent representation for non-disclosure of flooding problems - even though there was no privity of contract between lender for purchaser and original owner/seller.  White v. Bowman, Appeals No. 29631 (Missouri Court of Appeals for the Southern District)
• Assignment by original purchaser of misrepresentation claim against original seller held valid even though assignment occurred after original purchaser sold home to third party.  Adams v. Cossa, Appeal No. 92601 (Missouri Court of Appeals for the Eastern District)

NEED A SPEAKER TO PROVIDE AN OVERVIEW OF CURRENT CASES AND LIABILITY TRENDS OF INTEREST TO ST. LOUIS REALTORS?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381.