Arcadia
REALTOR®
The Official Publication of the Arcadia Association of REALTORS®
PROUDLY SERVING THE REALTORS® OF ARCADIA, BRADBURY, DUARTE, MONROVIA AND SIERRA MADRE Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology 9:00am •- Networking 3:00pm • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • EducaSanta Anita Park (Race Track) tion • Technology • Networking • Education • Technology • Networking • Education • Technology W. Huntington Arcadia,•CA 91007• Education • Technology • Networking • •285 Networking • EducationDr. • Technology Networking Education • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Network-
Arcadia Association of REALTORS®
Seniors Real Estate Specialist (SRES) Designation See page 9
2013
TUESDAY, APRIL 23
Lockbox Exchange @ BizN.E.T. Exchange is Limited to AAR Members ONLY!
See pages 3 & 9
Events 4 Charity Day at the Races See page 10
APRIL 2013
WWW.THEAAR.COM
1 VOL. 17, NO. 4
Arcadia
REALTOR®
REGULAR FEATURES 4 Events Calendar
4 From the EVP’s Desk Andrew Cooper, Executive Vice President
5 Attorney Comments Dave Freeman, AAR Legal Counsel
6 Market Matters
10 Through the Lens
A Look at What’s Happening Around the AAR
11 Affiliate Corner
“Why the Notarial Act is More Important Than Ever”
Stephanie Jordan, Independent Mobile Notary
04.13
{ Arcadia REALTOR® | April | Two Thousand and Thirteen | Volume Seventeen | Number Four}
2
April 2013
Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006 626.446.2115 626.446.4072 FAX www.TheAAR.com
2013 ASSOCIATION OFFICERS
Andy Bencosme {President} Mike Vachani {President-Elect} Joe Pacilio {Vice-President} Jill Nelson {Secretary/Treasurer}
2013 ASSOCIATION DIRECTORS
Micah Adams Ryan Asao Roy Blume Kelvin Chang Margaret Garemore John Lee Paulina Lee Sylvia Ramos Irene Yamagata -Bermudez
2013 C.A.R. DIRECTORS
Ryan Asao Andy Bencosme Margaret Garemore George Monte Randall Traw Mike Vachani Kelvin Wong
ARCADIA ASSOCIATION STAFF
We are here to help you with your needs! Office Phone 626.446.2115 Robin Allen Ext. 307 Director of Finance / Office Manager Robin@TheAAR.com Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com Brenda Faltes Ext. 304 Director of MLS Data Integrity, Supra & Social Media Brenda@TheAAR.com Stephanie Maertens Ext. 303 Director of Education, Publications & MLS Caravan Stephanie@TheAAR.com Maria Roberts Ext. 305 Director of Membership & Professional Standards Maria@TheAAR.com Jane Shriver Ext. 301 Director of Association Services Jane@TheAAR.com Andrew Cooper Ext. 308 Executive Vice President Andrew@TheAAR.com
3 BizN.E.T. 2013 Please join us for our upcoming Expo at the Santa Anita Racetrack.
COMMITTEE HIGHLIGHT OF THE MONTH “Global Real Estate Committee” By Nick Zigic, Committee Chairman
9 AAR Lockbox Exchange There will be a lockbox exchange taking place during BizN.E.T. 2013 at the Santa Anita Racetrack. Bring your blue lockboxes and they will be exchanged for a newer version! 9
SRES Designation A recap of the recent designation offering of the AAR.
10
Events 4 Charity - Day at the Races A look at the recent fun-filled charity event at the Santa Anita Racetrack.
ADDITIONAL CONTENTS 3
Committee Highlight of the Month - “Global Real Estate Committee” A monthly highlight of one of the AAR Committees.
7
AAR New Members The AAR welcomes its newest REALTOR® Members.
8
Arcadia Chamber of Commerce Presents Award to AAR The Arcadia Association of REALTORS® was recently awarded with the first-ever Corporate Community Award by the Arcadia Chamber of Commerce.
8
“Looking Forward...” A look at the AAR’s Commercial / Investment Committee.
11
E4C Wine and Cheese Tasting for Charity A look at the recent charity event at California Wine & Cheese in Monrovia.
12
“45-Hour Continuing Education Review & Exams” Will you need to renew your license soon? Would you like to get all your necessary credits in one spot? This is the event for you!
FINLAND!
“I received a call from Switzerland the other day. Carol, a friend from the International Consortium of Real Estate Associations (ICREA), better known as WorldProperties.com tells me there has been a referral from Florida pending on LinkedIn and Facebook for a few days and no one is responding to the inquiry! I called the agent and ten minutes later were talking to the relocation buyer in
The Global Real Estate Committee works hard to educate AAR members on ALL the resources available to work with global buyers in our local markets, and act as guides and trustworthy advisers to their California clients that wish to invest in other markets worldwide. With the CIPS designation, our members are recognized leaders at the N.A.R. level. Join the Committee and help us help other members reach new business ... GLOBALLY!” Networking • Education • Technology • Networking • Education • Technology • Networking • Edu& Supra Keybox cation • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking Exchange for • Education • Technology • Networking • Education • Technology • Networking • Education • TechAAR Members! nology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology 9:00am •- Networking 3:00pm • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • EducaSanta Anita Park (Race Track) tion • Technology • Networking • Education • Technology • Networking • Education • Technology W. Huntington Arcadia,•CA 91007• Education • Technology • Networking • •285 Networking • EducationDr. • Technology Networking Education • Networking • Education • Technology • Networking • Education • Technology • NetProgram working • Education • Technology • Networking • Education • Technology • Networking • Educa9:00 am - 3:00 pm • Vendor Exhibit tion • Technology • Networking • Education • Technology • Networking • Education • Technology • Joe•Ramos - Acquire More•Business Time!• Technology • Networking • •10:00 Networking Education • Technology NetworkingEvery • Education 10:00 • •Social Networx - Tech: State of the •Union Education Technology • Networking • Education Technology • Networking • Education • Tech11:15••Networking Jacob Swodeck - The Future of •Short Sales • Education • EX nology • Education • Technology Networking Technology • NetworkHIBI 11:15 • Social•Networx - Real Estate “Appy Hour”!• (phone apps) • Networking TOR ing • Education Technology • Networking • Education Technology • Education S 12:30 • Keynote Speakers - Frank Garay & Brian Stevens • Education • Technology • Technology • Networking • Education • Technology • Networking • 1:45 • Prize Give-a-Way over 60+! Networking • Education • Technology • Networking • Education • Networking • Education • Technology • Education • Network2:30 ••Networking Networking Social • Technology • Networking • Education • Technology UT AKO S ing • Education • Technology • Networking • Education • TechnologyR•ENetworking • Education • 2:45 • Rick DeLuca - It Takes Courage to Change! N B SIO • Technology • NetTechnology • Networking • Education • Technology • Networking • Education SES working Education •Exchange Technology • for Networking • Education • Technology • Networking • EducaSupra• Keybox AAR Members! tion • Technology • Networking Education Technology Come exchange your old•iBox for a•brand new• Networking • Education • Technology •low Networking Education •iBox Technology KEYN• Networking • energy•Bluetooth BT LE!• Networking • Education • Technology OTE • TechEducation • Technology • Networking • Education • Technology • Networking SPE•AEducation See reverse side for details & appointment times. KERS • Networknology • Networking • Education • Technology • Networking • Education • Technology ing • Education • Networking • Education • Technology • Networking • Education • Technology Keynote Speakers • Networking • Education • Technology • Networking • Education • Technology • Networking • Frank•Garay & Brian Stevens - The TBWS Daily Show! Education • Technology Networking • Education • Technology • Networking • Education • TechFrank & Brian •are the high•energy & funny hosts • ofTechnology the TBWS• Networknology • Networking • Education Technology Networking • Education ing • Education •Daily Technology • Networking • Education • Technology • Networking Show and have recently made Inman’s Top 100 Most• Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Influential People in Real Estate list. Networking • Education • Technology • Networking • Education • Technology • Networking • SPONSORED BY Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Networking • Education • Technology • Network-
Arcadia Association of REALTORS®
2013
TUESDAY, APRIL 23
FREE ION ADMISS & G! R PA KIN
60+
4
2
OPEN TO ALL REALTORS®
ON THE COVER
Arcadia REALTOR® Magazine
3
2
April Events Calendar
10:00 a.m. - 12:00 p.m. - Beginning ZipForms6 Training 10:00 a.m. - Global Real Estate Committee Mtg. 5:30 p.m. - 8:00 p.m. - New Member Welcome Reception @ Dave & Buster’s
3
8:30 a.m. - MLS Caravan 9:30 a.m. - Events 4 Charity Auxiliary Mtg.
4
9:30 a.m. - Commercial / Investment Committee Mtg. 11:00 a.m. - Commercial Marketing Mixer
5
12:00 p.m. - 1:30 p.m. - Toastmasters
8
10:00 a.m. - 3:00 p.m. - CRMLS Training
9
11:00 a.m. - Tech Committee Mtg.
10
8:30 a.m. - MLS Caravan 8:45 a.m. - Affiliate Committee Mtg. 9:30 a.m. - MLS Committee Mtg. 3:30 p.m. - Equal Opportunity / Housing Affordability Committee Mtg.
11
10:00 a.m. - 11:00 a.m. - “The New Real Estate Consumer”
12
9:00 a.m. - 11:00 a.m. - “Discover Untapped Gold Connecting with Financial Professionals”
13
10:00 a.m. - 2:00 p.m. - Duarte Homebuyer Fair
15 10:00 a.m. - 11:00 p.m. - “Environmental Issues in Your Community”
FROM THE EVP’S DESK Embrace your Mistakes! I just returned from the National Association of REALTORS® Association Executive Institute and I’m bursting at the seams with all kinds of great information and things I learned. One of the things I brought back was information learned from one of our keynote speakers. Josh Linkner starts and sells many start-up tech companies. His current project is trying to revitalize downtown Detroit – not an easy task. Josh talked about the actual need to make mistakes if we want to excel – something that resonates with me emphatically. After 19 years in our wonderful industry I’ve noticed that great REALTORS® learn by trial and error, and the best lessons learned come from errors that aren’t quickly forgotten. It’s completely natural to be fearful of making mistakes – we were taught that “mistakes are bad” while growing up. However it’s vitally important to rid ourselves of that thought process and to remind ourselves that past mistakes do not equal future mistakes. And when we do make a mistake, if we are too quick to judge ourselves and say, “Boy, I’ll never do ‘that’ again…”, you may be depriving yourself from important growth opportunities.
Here’s an interesting thought; some companies actually build a 20% factor for mistakes into their annual budgets. It gives them the freedom to be wildly experimental and to try innovative strategies, realizing that there likely will 17 8:30 a.m. - MLS Caravan 9:30 a.m. - Public Relations Committee Mtg. be mistakes that they’ll have to rectify along the way. But 1:30 p.m. - Local Governmental Relations Committee Mtg. because the other 80% is such a productive payoff, they don›t mind paying the 20% premium for these mistakes. Josh 18 11:00 a.m. - 12:00 p.m. - Lunch & Learn Series “Foreigners Linkner went one step further and said that he gives his and Their Property Investments” employees two “Get Out of Jail Free” cards each year. This 19 12:00 p.m. - 1:30 p.m. - Toastmasters empowers his employees to go out and try insanely creative things, all for the good of the company. What if we did the 22 1:30 p.m. - Budget and Finance Committee Mtg. same thing to build our business? Think of the liberation you would feel and the results you would derive from that new 23 9:00 a.m. - 3:00 p.m. - BizN.E.T. 2013 @ Santa Anita mental paradigm shift! Racetrack 16
10:00 a.m. - 12:00 p.m. - Intermediate ZipForms6 Training 2:00 p.m. - Education Committee Mtg.
9:00 a.m. - 4:00 p.m. - AAR Lockbox Exchange @ Santa Anita Racetrack
24
8:30 a.m. - MLS Caravan 9:30 a.m. - Young Professionals Network Committee Mtg.
25
9:00 a.m. - 12:00 p.m. - “45-Hour Continuing Education”
26
8:30 a.m. - Board of Directors Mtg.
29
8:30 a.m. - New Member Orientation
30
9:00 a.m. - 12:00 p.m. - “Life of a Probate”
4
April 2013
It›s critically important to accept that mistakes are a mandatory part of success. The bottom line is this: If we’re not making mistakes then we’re not trying. The past is the past. Let’s use it, let’s learn from it, but let’s not dwell on it. There is tons of success to be achieved for you and glorious new mistakes to be made along the way.
Andrew Cooper
Executive Vice-President
Attorney Comments April 2013
By Dave Freeman, Association Counsel 1. FORECLOSURES – HIDDEN DIFFICULTIES: Foreclosure sales are falling precipitously, particularly regarding decent buys. Although there are still some good opportunities out there, great care must be taken in terms of the problems that can arise in any foreclosure suit. Most notably, the party who is losing the property will more often fight to prevent your successful takeover and operation of the property. They may sue the foreclosing party and you in a Quiet Title action to prevent your ownership, or they may remain in the property and fight their eviction. They may also cause great damage to the property, taking out walls, copper, plumbing and fixtures. It also may turn out that you purchased the property from the foreclosing Second Trust Deed, with the First Trust Deed remaining on the property. You do not get title insurance when you purchase
W.J. Bradley - Pasadena welcomes Martha Shanks & Patrick Bishop
Martha Shanks
Loan Officer, NMLS# 287187 626-768-0034 phone 855-737-8595 fax 1055 E Colorado Blvd., Suite 120 Pasadena, CA 91106 martha.shanks@wjbradley.com
W.J. Bradley Mortgage Capital, LLC
at a foreclosure sale, and many problems may not easily meet the eye as in a normal purchase. Therefore, if you or your clients are considering purchasing at a foreclosure sale, hire someone who has expertise in that area to help.
2. SPECIFIC PERFORMANCE: Although I wrote about this subject about a year ago, it is more relevant now than ever. When prices and values of properties are increasing, sellers frequently back out of contracts, leaving the purchasers wondering what to do. The usual reason for the back out is that the sellers have been offered a higher price from someone else. Rest assured, your contract is a valid binding contract if you have the signatures of each of the owners, as confirmed in your title check (before the contract is signed). If your buyers desire, they can file a lawsuit against the sellers for Specific Performance, which is asking the Judge to make the sellers perform the contract as agreed. At the same time a Lis Pendens is normally WJB Products recorded in Conforming and Jumbo Loans the County 5, 10 & 30-yr fixed Recorder’s Low adjustable rates office, acting FHA fixed and adjustable rates similarly to VA and 203(k) loan a very strong lien on the property, and preventing sale or Patrick Bishop borrowing Loan Officer, NMLS# 368491 626-768-0036 phone against the 866-953-0145 fax property until 1055 E Colorado Blvd., Suite 120 Pasadena, CA 91106 the lawsuit is patrick.bishop@wjbradley.com completed. If you WJB120611311 have valid signed contract, and the buyers have
© 2012 W.J. Bradley Mortgage Capital, LLC. 6465 Greenwood Plaza Blvd, Suite 500, Centennial, CO 80111 Phone #303-825-5670. NMLS ID 3233. Trade/service marks are the property of W.J. Bradley Mortgage Capital, LLC. This is not a commitment to lend. Restrictions apply. All rights reserved. Some products may not be available in all states. WJB is not acting on behalf of or at the direction of HUD/FHA or the federal government.
AZ Mortgage Banker License # BK-0903998; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act RML# 4131002; Colorado Mortgage Company Registration NMLS ID 3233 Regulated by the Division of Real Estate. To check the license status of your CO Mortgage Broker, visit www.dora.state.co.us/real-estate/index.htm; Florida Mortgage Lender Servicer license #MLD738; ID Mortgage Broker License No. MBL-7766; IL Residential Mortgage Licensee – License #MB.6760738, 6465 Greenwood Plaza Blvd., Suite 500, Centennial, CO 80111; MN Residential Mortgage Originator License No. MN-MO-3233; NV Mortgage Banker License No. 2061; NV Mortgage Broker License No. 504; NM Mortgage Loan Company and Loan Broker Act Reg. No. 01856; OK Mortgage Broker – License No. MB001365; OR Mortgage Lender License No. ML-776; TX Registered Mortgage Banker – NMLS 3233; Texas Mortgage Banker Disclosure: www.wjbradley.com/TexasMortgage-Banker-Disclosure.html; UT Mortgage Lender Company License No. 5495659-NMLC; Utah Consumer Credit Notification and Utah Residential First Mortgage Notification regulated by the Utah Department of Financial Institutions; Vermont Lender License #6341; WA Consumer Loan License No. CL-3233; Wisconsin Mortgage Banker License No. 699991. NMLS consumer access: www.nmlsconsumeraccess.org/ EntityDetails.aspx/COMPANY/3233.
performed their side of the agreement, this type of action is very effective. It locks up the property and the seller, and usually leads to a fairly quick resolution of the matter. As your contract calls for mediation (a settlement conference), the matter will frequently be settled in a manner beneficial to both sides, without the need for extensive litigation. Should the matter be required to go to trial, and if the buyer is successful, the seller will be required to pay the buyer’s Court costs and attorney fees, pursuant to your contract, and insuring your commissions. 3. DOCUMENT YOUR FILES: It has become more and more important to keep a running log in your file, and to confirm your actions in writing or by email with and to your client. Otherwise, sooner or later, the client will accuse your of not performing as requested and required. Recently, a party transferred their interest in a property to a co-owner. They later accused the broker of stating that they would be removed from the loan liability by transferring title to the other co-owner. As you know, transferring title does not remove one from the loan liability. In this case, the broker had arranged the original loan with the two parties on the loan and on title to the property. The broker did not prepare the Deed from one party to the other, but did record it for the parties. If the broker had a writing stating that the transfer of the title would not take the party off the obligation of the loan, or recommending that the party seek the advice of a real estate attorney concerning this issue, the broker would most likely not have been in this mess to begin with. Therefore, the best solution is to thoroughly document your file by creating a simple log with dates and very brief statements of the activity that took place, as well as written/email communication with your clients, spelling out the actions taken and the statements made. Brokers and managers would be well advised to review these logs and correspondences frequently.
Arcadia REALTOR® Magazine
5
Market
Matters
Market Statistics for the San Gabriel Valley Single Family Homes
City Alhambra
6
Zip Code 91801
February 2013
Condominiums
Price % Sales of Chg from Single Family Price Median February Homes SFR ($1,000) 2012 7
$480
15.7%
Price Median Condo ($1,000)
Sales Count Condos
SFR Only
Price & Chg from Median February Home Price/ 2012 Sq. Ft.
11
$420
29.2%
$325
Alhambra
91803
8
$439
21.9%
1
$295
n/a
$362
Altadena
91001
40
$472
9.9%
n/a
n/a
n/a
$329
Arcadia
91006
24
$800
6.7%
1
$600
5.7%
$373
Arcadia
91007
14
$1,125
23.0%
11
$465
18.9%
$453
Azusa
91702
28
$258
-5.1%
15
$203
8.0%
$230
Duarte
91010
10
$281
-23.4%
4
$280
7.7%
$241
El Monte
91731
7
$310
6.7%
1
$205
n/a
$266
El Monte
91732
10
$318
24.5%
10
$300
17.7%
$252
El Monte - South
91733
7
$335
36.7%
2
$271
n/a
$298
Glendora
91740
13
$333
2.0%
n/a
n/a
n/a
$236
Glendora
91741
14
$510
7.3%
1
$381
16.2%
$290
La Ca単ada Flintridge
91011
14
$1,165
42.1%
2
$710
30.3%
$428
La Verne
91750
15
$490
24.8%
7
$225
-27.9%
$265
Monrovia
91016
20
$602
100.7%
7
$331
-17.2%
$347
Pasadena
91101
1
$365
-27.0%
11
$395
15.3%
$361
Pasadena
91103
12
$373
49.0%
6
$470
21.2%
$313
Pasadena
91104
14
$590
51.3%
2
$368
103.0%
$393
Pasadena
91105
8
$868
-30.6%
5
$685
14.4%
$453
Pasadena
91106
8
$1,185
9.7%
16
$333
6.6%
$529
Pasadena
91107
15
$843
74.2%
7
$350
5.9%
$382
Rosemead
91770
10
$395
5.4%
2
$377
30.9%
$314
San Gabriel
91775
8
$524
-5.7%
n/a
n/a
n/a
$396
San Gabriel
91776
10
$530
19.9%
6
$352
-8.3%
$368
San Marino
91108
10
$1,550
-39.2%
n/a
n/a
n/a
$639
Sierra Madre
91024
10
$523
-42.6%
4
$522
151.1%
$475
Temple City
91780
13
$575
12.7%
7
$480
20.3%
$381
Source: DQNews.com
April 2013
AAR New Members The Arcadia Association of REALTORS® would like to formally welcome our newest REALTOR® members!
AAR new members with Membership Committee Vice-Chairman, Cindy Shiao and Committee Chairman, Alma Aguilar are (in no particular order): John MacLean, Showcase Homes Realty & Investment; Kent Chen, Treeline Realty & Investment; Handoko Chen, Lee & Associates Investment; Andrea Barrett, Podley Properties; Renfei Ma, Coldwell Banker Dynasty Temple City; Charline Gallagher, Coldwell Banker Arcadia; Allen Xu, IRN Realty; Gail Talbott, Dilbeck Real Estate; Alex Lee, Re/Max Elite Realty; Xiao Chen, IRN Realty; Miguel Don, Property Finders; Shaun Radcliffe, Miars, REALTOR®; Pyung Kim, Long Dragon Realty; Pamela Nahabedian, Coldwell Banker Dynasty Arcadia; Salma Baqai, Castlewood Corporation; Jeanette Guan, Guan, Jeanette Jing REALTOR®; Wenwei Lei, Highland Real Estate; Erika Yu, Treeline Realty & Investment; Maria Elena Cerda, Century 21 Dynasty; Le Minh Hua, Century 21 Adams & Barnes; Eric Chee, Zip Realty, Inc.; Milan Mi, VasTree Real Estate; Tiffany Salvador, Keller Williams West Foothills; Lee Ling Chu, Long Dragon Realty; Deanna Ko, Coldwell Banker Arcadia; Chin Chau, Resource Real Estate Services; Phuong Piekarsa, Treeline Realty & Investment; Chingying Doughten, IRN Realty; Robin White, Grandmark Realty Inc.; Anita Wong, Grandmark Realty Inc,; Guangchuan Peng, Highland Real Estate; Evan Yeh, Re/Max Omega; Quentin Tang, Highland Real Estate and Franklin Chang, Long Dragon Realty.
6
(626) 831-8862 www.morrisoninspects.com Arcadia REALTOR® Magazine
7
Arcadia Chamber of Commerce Presents Award to AAR The Arcadia Chamber of Commerce recently announced its first-ever Corporate Community Contributor award. The award recognizes the contributions to the community by a Chamber business member. For its inception year, the Chamber presented this award to the Arcadia Association of REALTORS® at their Installation Dinner on March 21st. The past year, the Arcadia Association of REALTORS® donated more than $11,000 to local non-profit groups such as the Assistance League of Arcadia, the school district’s Performing Arts Center and Arcadia-based Friends of Foster Children. The AAR has also sponsored the Arcadia Youth Basketball League last year and donated more than $21,000 to charities in 2011. “We are pleased to initiate this new annual award to good corporate citizens”, said Chamber President Pete Siberell. “The Arcadia Association of REALTORS® is an ideal inaugural recipient since they represent more than 2, 000 business members who all contribute to the organization’s laudable efforts to support the community”. “We are extremely honored to receive this first-time award from the Arcadia Chamber of Commerce”, stated Andy Bencosme, AAR 2013 President. “We take great pride in raising money for local charities and being recognized for that by our own community is truly humbling. We share this award with our incredible group of volunteers who plan and organize all our fundraising events”.
AAR Executive Vice President, Andrew Cooper accepts the award on behalf of the AAR.
“Looking Forward...”
By Roy Blume, Commercial / Investment Committee Chairman I would like to begin by thanking Mike Vachani for his guidance and mentoring this past year. This year I am honored to serve as your Chairman along with my two Vice-Chairmen Nick Zigic and Fred Madjar. We have plenty of returning members and I would like to invite any members of the AAR to join our committee. You don’t have to have commercial experience. I was a guest three years ago and was so impressed by the education that was offered by this committee that I was inclined to join. If you have an interest in commercial real estate or perhaps have done a few deals and would like to learn different skills that will enhance your commercial and investment transactions then please come and visit with us. The Commercial / Investment Committee meets the first Thursday of every month at 9:30 a.m. in the AAR Building. Directly after our committee meeting we have a networking mixer and an educational class that runs for an hour or so. Each month there is a commercial related topic and speaker that starts at 11:00 a.m. You will be introduced to new selling, marketing and listing skills. There are follow up classes that relate to the guest speaker and their topic. We will even offer you lunch so come hungry for knowledge and food. In addition, if you have a property that you would like to pitch we have a format and forum for that as well. It will be a morning well spent with other commercial practitioners. We have an exceptional year planned that is full of top notch subjects that will include a Commercial Education Day towards the latter part of the year. This Education Day will greatly benefit you, our member by having a panel of speakers and events that will stimulate your commercial juices. For more information on the Commercial / Investment Committee and its meetings, contact Roy Blume at (626) 786-4011 or the AAR office at (626) 446-2115.
8
April 2013
AAR Hosts SRES Designation Course The Arcadia Association of REALTORS® had the honor of recently offering the Senior Real Estate Specialist (SRES) Designation Course. For two days, instructor Ginni Field, of Oceanside, California offered her expertise and knowledge to each of the attendees. A total of 28 students joined together in determination to gain their SRES Designations. By earning the SRES Designation, they have demonstrated the necessary knowledge and expertise to counsel clients age 50+ through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. They have received special training, get regular updates, and are prepared to offer the options and information needed in making life changing decisions. Congratulations to the newest SRES Designees!
SRES Designees with the course instructors are (in alphabetical order): Sarah Barron, Diana Baylor, Pamela Bergman, Camille Brausam, Anthony Chiofalo, Janice DeNuto, Ginni Field, Instructor; Sylvia Gandara, Nadeem Haddad, Diana Chen-Hayashida, Caroline Khabbaz, Stephen Kuns, Patricia Lafosse, Lily Lam, Samuel Lin, Socorro Lopo, Cynthia Marrone, John Medel, James Miller, Carolina Ruiz, Kaley Schiltz, Ada Scofield, Carlotta Swift, Ana Tengco, William Tong, Steve Voors, Bill Worden, Stella Worden and Anne Yang.
Design Escrow, Inc. Known for the integrity of our intent and quality of our actions, we have the confidence to do what is required, the courage to move the process along to successful completion, and the compassion to listen to needs of all parties involved.
128 East Huntington Drive Arcadia, CA 91006
626.445.6137
The Arcadia Association of Realtors® and Supra are hosting a
Lockbox Exchange at BizN.E.T. 2013! (Lockbox Exchange is Limited to AAR Members ONLY) Please bring your old lockboxes and exchange them for new low energy Bluetooth lockboxes (BT LE). You must be an active AAR agent in order to participate. See the strict appointment schedule below and what to bring with you. Important Reminder: During the swap of lockboxes, there may be listings that do not have a lockbox on them. Please call before showing to ensure you have access.
Please bring with you to the exchange event: •
A government issued photo ID
•
Your assigned blue lockboxes, exchanged 1 for 1
Please Note: Please make sure that your old lockbox inventory is accurate prior to coming to the event. Only lockboxes that are assigned to you will be exchanged. Check the schedule to see where your LAST NAME falls alphabetically. Avoid Real Estate showings close to your appointment time. If you cannot come at your appointed time, please trade with another agent. Allow 90 minutes to exchange your lockboxes. Take advantage of BizN.E.T. 2013 when you exchange your lockboxes! Time 9:00 AM 9:15 AM 9:30 AM 9:45 AM 10:00 AM 10:15 AM 10:30 AM 10:45 AM 11:00 AM 11:15 AM 11:30 AM 11:45 AM
Standing (left to right): Julie Nguyen, Kai Wu, Jackie Ramos, Liem Ho, Yolanda Vidales, Suzie Archuleta, Luly Goodmand and Jojo Ong. Sitting (left to right): Terri Fabbri, Alexis Ostensen, Kay Gass and Shelly Malicek
Last Name AAAA - ARIS ARRI - BEZJ BI - CHAN F CHAN H - CHEN M CHEN N - CHUA CHUI - DESP DIAZ - GABR GALL - HEDA HEDL - HSU HU - JOHN JONE - LAI LAM - LEE
Time 12:00 PM 12:15 PM 12:30 PM 1:45 PM 2:00 PM 2:15 PM 2:30 PM 2:45 PM 3:00 PM 3:15 PM 3:30 PM 3:45 PM
Last Name LEEC - LIU LO - MAN CLOSED FOR LUNCH MANS - MYLE NAGA - PEDR PEKE - RIZZ ROA - SOLI SONG - TAYL TEEG - VERA VILL - WONG WU - YOUN YU - ZZZZ
(Lockbox Exchange is Limited to AAR Members ONLY)
9
through the lens
A Look at What’s Happening Around the AAR
e Events 4 Charity Day at thrack Races - Santa Anita Racet - March 15, 2013
10
April 2013
Affiliate Corner
“Why the Notarial Act is More Important Than Ever” By Stephanie Jordan, Independent Mobile Notary
Trust. It is a simple word, yet it means so much in today’s modern world. Trust is the currency that allows people who do not know each other to enter into contracts every day. It allows society to function, even when we are given a multitude of reasons to not trust. Gone are the days when you personally knew who you were getting into business with, when deals were sealed by a handshake, and trust was evident. Today, we communicate with strangers in another part of the world via Skype, business documents are now multi-page heaps, and the risk of fraud in real estate transactions is greater than ever. With all of the risk involved, how do you ensure that you and your clients are protected? You make sure that you have a partner who is impartial and unbiased. One who understands the rule of law and ensures the reliability of a transaction. There is a process in place to ensure the integrity of the entire transaction, from verifying the signer, to ensuring the completeness of the document, and confirming the intent or capacity of the signer. This process is called notarization. The two most common types of notarizations (or “notarial acts”) used in real property transactions are acknowledgments and jurats. Each type of notarization has a specific purpose and use, but all help engender trust and facilitate commerce. The acknowledgment is the form most frequently used in the notarial act. An acknowledgment is a notarial act where the
signer affirms that he signed the document, understands the document, and is aware of the consequences of signing the document. The signer also indicates that he was not coerced into signing the document, but instead did so of his own free will. Acknowledgments are frequently used on documents such as deeds and powers of attorney. These documents need not be signed in the presence of the notary, but may be signed before the notary completes the notarial act. The jurat is the second most commonly used form in the notarial act. In executing a jurat, the signer indicates that he swore (or affirmed) under penalty of perjury that the information on the document is the truth. Unlike an acknowledgment, the document must be signed in the presence of the notary on the date indicated on the jurat. When you are nearing the end of your real property transaction, the notary or Signing Agent steps in to facilitate completion of the loan documents. Many escrow officers are also notaries. However, if your client is not able to go to the escrow office to sign the loan documents, you should choose a partner who understands that they are a direct reflection of you. Be sure that your partner has additional training specifically in the area of loan signings, and that they understand that your most valuable commodity is trust. Stephanie Jordan has been an independent mobile Notary for five years, and has been certified as a Loan Signing Agent through the National Notary Association. To contact her, call (909) 838-2430 or email her at SoCalNotaryGal@gmail.com.
E4C Wine and Cheese Tasting for Charity
Recently, the AAR Events 4 Charity Auxiliary held a Wine and Cheese Tasting event at California Wine & Cheese in beautiful downtown Monrovia. This event raised a total of $1,541.38 for local charities. We sincerely thank those who volunteered and those who attended to help make this event a huge success!
Arcadia REALTOR® Magazine
11
Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006
“45-Hour Continuing Education Review & Exams” Thursday, April 25, 2013 DEADLINE TO REGISTER: April 23, 2013
9:00 a.m. to 12:00 p.m. AAR Building Cost: $70 Study materials must be picked up from the Association prior to the seminar or shipped at an extra fee of $5.
Visit www.TheAAR.com for more details and to register
Dedicated to Providing High Quality Legal Services ®
• Estate Planning • Trust Administration • Probate • Business Law • Commercial Transactions • Corporation, LLC & Partnership Formations • Business Contracts
Call today for a free consultation
Romy S. Rahmanian, Attorney
(626) 869-8787 33 East Huntington Drive • Arcadia, CA 91006 romy@rahmanianlaw.com • www.RahmanianLaw.com
12
C. Anthony Phillips, CPA President
We Provide A Complete Service To Successfully Accomplish Tax Deferred Exchanges Pre-Exchange Tax Planning Accommodation of Tax Deferred Exchange Post Exchange Tax Planning
Call for your free Exchange Tax Analysis 909 East Green Street, Pasadena CA 91106-2930
Phone: (800) 743-1031 Fax: (626) 796-8222
www.DownstreamExchange.com