1814                             Joint Resolutions

Whereas, these residents are concerned, not with prejudice or
keeping people out of their block, but with preserving their invest-
ment in their homes, properly educating their children, maintaining
tranquility in their neighborhoods, and avoiding the intolerable bur-
den of being forced from the homes and neighborhoods they love;
and

Whereas, a very significant element in such neighborhoods threat-
ened by instability is the inability of both buyers and sellers to
distinguish between pure brokers, pure investors, and the combina-
tion broker-investor, all three being highly reputable and important
businesses; and

Whereas, some broker-investors often list properties as brokers
without any intention of seriously trying to tell SELL them, antici-
pating a purchase for their own account at the expiration of the
listing; and

Whereas, this results in a serious conflict of interest on the part
of the broker; now, therefore, be it

Resolved by the General Assembly of Maryland, That the Real
Estate Boards in the State of Maryland and the Real Estate Com-
mission of the State of Maryland, be and they are hereby requested
and directed to completely TO study this problem jointly with
members of the public at large and the General Assembly and recom-
mend legislation, if appropriate, by January 1, 1972 to clarify this
situation.

Approved May 6, 1971.

No. 13
(Senate Joint Resolution 36)

Senate Joint Resolution requesting a study of the appraisal policies
of the Veterans' Administration and Federal Housing Administra-
tion loan provisions in their relation to the problem of property
appraisal in certain urban areas, and requesting recommendations
for legislation to deal with this problem.

Whereas, One of the major problems facing the residents of
urban areas is neighborhood stabilization; and

Whereas, Property values in such neighborhoods are frequently
forced downward as a result of representations by investors that
racial or ethnic changes and other changes will occur in these neigh-
borhoods; and

Whereas, These artificially low home prices are then used as the
appraised value for homes in such neighborhoods under the terms
of the Veterans' Administration and Federal Housing Administra-
tion appraisal provisions; and

Whereas, Residents of these neighborhoods, in attempting to sell
their homes, are subject to the artificial appraised value and are not
able to sell at a fair value; and