Arcadia
REALTOR速
The Official Publication of the Arcadia Association of REALTORS速
PROUDLY SERVING THE REALTORS速 OF ARCADIA, BRADBURY, DUARTE, MONROVIA AND SIERRA MADRE
Events 4 Charity Day at the Races
See page 8
APRIL 2014
WWW.THEAAR.COM
VOL. 18, NO. 4
Arcadia
REALTOR®
REGULAR FEATURES 4 Events Calendar
Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006 626.446.2115 626.446.4072 FAX www.TheAAR.com
2014 ASSOCIATION OFFICERS
Mike Vachani {President} Joe Pacilio {President-Elect} Roy Blume {Vice-President} Sylvia Ramos {Secretary/Treasurer}
2014 ASSOCIATION DIRECTORS
4 From the CEO’s Desk Andrew Cooper, Chief Executive Officer
5 Attorney Comments Dave Freeman, AAR Legal Counsel
6 Market Matters
9 Affiliate Corner
“Three Reasons You Want Higher Mortgage Rates” John Thompson, TGLoans
10 Through the Lens
A Look at What’s Happening Around the AAR
Micah Adams Ryan Asao Andy Bencosme Kelvin Chang Margaret Garemore John Lee Mark Ramos Dave Scarminach Irene Yamagata -Bermudez
2014 C.A.R. DIRECTORS
Ryan Asao Andy Bencosme Margaret Garemore Joe Pacilio Randall Traw Mike Vachani Kelvin Wong
ARCADIA ASSOCIATION STAFF Robin Allen Ext. 307 Director of Finance / Office Manager Robin@TheAAR.com Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com
04.14
{ Arcadia REALTOR® | April | Two Thousand and Fourteen | Volume Eighteen | Number Four}
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April 2014
Brenda Faltes Ext. 304 Director of MLS Data Integrity, Supra & Social Media Brenda@TheAAR.com Jamie Hu Ext. 309 Administration Jamie.Hu@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 Chief Executive Officer Andrew@TheAAR.com
ON THE COVER 8
AAR Day at the Races A short recap of the annual charity event hosted by the AAR Events 4 Charity Auxiliary.
ADDITIONAL CONTENT 3
AAR New Members The AAR welcomes its newest REALTOR® Members.
5
Windows XP and Office 2003 - Support Ending As of April 8th, 2014 Microsoft will end support for Windows XP and Office 2003.
11
SRES Deignation A recap of the recent designation offering of the AAR.
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Appy Hour What do you get when you mix a YPN Happy Hour and a Technology class?
MAY 29-30, 2014 9:00 A.M. TO 5:00 P.M. ARCADIA ASSOCIATION OF REALTORS® 601 SOUTH FIRST AVENUE ARCADIA, CA 91006
COURSE FEE: $189 To register, please visit www.TheAAR.com and click on the course title under “Upcoming Events”.
Lunch on first day sponsored by Mary Kay, Advanced Group Property Inspections
LEARN HOW TO KEEP THEM FROM STRAYING Who you are, and what you are, make a big difference. ABR® after your name tells buyers that you’ll provide the attentive service they expect - and that you’ll be loyal to them too as you track the scent of their new home together.
AAR New Members
The cornerstone of buyer representation education, this comprehensive course covers this specialty top to bottom and is required to earn the ABR® designation. For complete information on designation requirements, see the back of this flyer or visit www.rebac.net. A continental breakfast and light lunch will be provided both days of the course.
The Arcadia Association of REALTORS® would like to formally welcome our newest REALTOR® members!
AAR new members with Membership Committee Vice-Chairman, Cindy Shiao; Committee Chairman, Alma Aguilar and 2014 President, Mike Vachani are (in no particular order): Jia Bao, Coldwell Banker George; Kenneth Burns, K&M Realty; Jessimine Chang, A&C Intl Investment Inc.; Ally Chau, Resource Real Estate Services; Christine Chen, Highland Real Estate; Jui-Yu Chen, Coldwell Banker Arcadia; Renee Chen, Keller Williams West Foothills; Ye Chen, Highland Real Estate; Christopher Edwards, Keller Williams West Foothills; Stephen Eng, Re/Max Omega; Jessica Fu, Long Dragon Realty Group, Inc.; Francisca Garibay-Villagomez, Re/Max 6000 Realty; Yi Gong, Long Dragon Realty Group, Inc.; David Gould, CP Realty; Malak Hakimeh, HomeSmart Realty; Chien Hui Huang, IRN Realty; Jieun Jung, Keller Williams West Foothills; Poyuan Kuo, Long Dragon Realty Group, Inc.; Wun Kwan, Highland Real Estate; Shui Lai, Keller Williams West Foothills; Jong Lee, IRN Realty; Shu Ling Lee, Castlewood Corporation; Jiabao Liang, Keller Williams West Foothills; Brian Lin, Brian Lin; James Ly, Century 21 West Coast Brokers; Pui Man, Coldwell Banker George Realty; James Manoledes, Berkshire Hathaway Homeservice; Jesus Pulido, Re/Max 6000 Realty; Minjuan Qiao, Coldwell Banker George; Tom Safa, Tom Safa; Alexandra Sciarra, Coldwell Banker Arcadia; Sair Tam, IRN Realty; Sau Tam Lam, IRN Realty; Ying Tsang, Keller Williams West Foothills; Fuying Wang, Highland Real Estate; Alexandria Wong, Coldwell Banker George; Jeff Wong, Keller Williams West Foothills; Kenny Wong, Re/Max Omega; Selina Wong, Long Dragon Realty Group, Inc.; Jeng Yang, Keller Williams Realty; Nikki Yang, Essence Business Group; Qiong Yang, Highland Real Estate; Qizhi Zhang, IRN Realty and Vicky Zhang, Highland Real Estate. Arcadia REALTOR® Magazine
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April Events T 1
10:00 a.m. - 12:00 p.m. - zipForm Plus Training 11:00 a.m. - Global Real Estate Committee Mtg.
W 2
8:30 a.m. - MLS Caravan 9:30 a.m. - Events 4 Charity Auxiliary Mtg.
Th 3
9:30 a.m. - Commercial / Investment Committee Mtg. 11:00 a.m. - Commercial Education & Networking Session 1:00 p.m. - 5:00 p.m. - “Real Estate Contract Training” 5:30 p.m. - 7:30 p.m. - New Member Welcome Reception
F 4
12:00 p.m. - 1:30 p.m. - AAR Speech Masters
M 7
10:00 a.m. - 2:00 p.m. - CRMLS Training
T 8
9:00 a.m. - 12:00 p.m. - “Legal & Tax Consequences of Short Sales vs. Foreclosures” 11:00 a.m. - Tech / YPN Committee Mtg.
W 9
8:30 a.m. - MLS Caravan 8:45 a.m. - Affiliate Committee Mtg. 9:30 a.m. - MLS Committee Mtg. 1:00 p.m. - 5:00 p.m. - “Real Estate Contract Training”
T 10
9:00 a.m. - 12:00 p.m. - “Business Opportunities 102” 9:00 a.m. - 1:00 p.m. - Forest Lawn Museum Tour 3:00 p.m. - 5:00 p.m. - Global Mixer
FROM THE CEO’S DESK Go Ahead - Embrace your Mistakes! I recently read an article about an entrepreneur named Josh Linkner. Josh Linkner starts and sells many start-up tech companies. A recent project of his is to revitalize downtown Detroit - not an easy task. In the article, Josh talked about a fundamental need to make mistakes if we want to excel. I found this to be a fascinating concept because it goes against conventional thinking. Most of us are fearful of making mistakes - we were taught that mistakes are bad while growing up. Linkner said that 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. Just because you stumbled or miscalculated once doesn’t mean you will do it again.
Th 17
Here’s an interesting thought; some companies actually build a 20% factor for mistakes into their annual budgets. 9:00 a.m. - 5:00 p.m. - “AIR Commercial Contract It gives them the freedom to be wildly experimental and Forms Review” to try innovative strategies, realizing that there likely will 10:00 a.m. - 12:00 p.m. - “Listingbook AI Training” be mistakes that they’ll have to rectify along the way. But 9:00 a.m. - 12:00 p.m. - “Save Your Commissions, because the other 80% is such a productive payoff, they Don’t Get Fines” don’t mind paying the 20% premium for these mistakes. 2:00 p.m. - Education Committee Mtg. Josh Linkner went one step further and said that he gives his employees 2 “Get Out of Jail Free” cards each year. 8:30 a.m. - MLS Caravan 9:30 a.m. - Equal / Housing Opportunity & Public This empowers his employees to go out and try insanely Relations Committee Mtg. creative things, all for the good of the company. What if 1:30 p.m. - Local Governmental Relations Committee Mtg. we did the same thing to build our business? Think of the 11:00 a.m. - 12:00 p.m. - Lunch & Learn Series Class liberation you would feel and the results you would derive 1:00 p.m. - 5:00 p.m. - “Real Estate Contract Training” from that new mental paradigm shift!
F 18
AAR Office Closes at 1:00 p.m. for Good Friday
T 22 W 23
1:30 p.m. - Budget and Finance Committee Mtg.
Th 24
1:00 p.m. - 5:00 p.m. - “Real Estate Contract Training”
F 25
8:30 a.m. - Board of Directors Mtg.
T 29
9:00 p.m. - 12:00 p.m. - “45-Hour Continuing Education Review & Exams”
F 11 T 15 W 16
8:30 a.m. - MLS Caravan
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. Past mistakes are past mistakes. Let’s use them, let’s learn from them, but let’s not dwell on them. There is tons of success to be achieved for you - and glorious new mistakes to be made along the way.
Andrew Cooper Chief Executive Officer
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April 2014
Attorney Comments April 2014
By Dave Freeman, Association Counsel 1. POOL DRAINS: Pool drains and covers on public pools must comply with the Federal law requiring: compliant drain covers installed and a second antientrapment system installed, when there is a single main drain other than an unblockable drain. This is a somewhat major installation in an existing pool, as it usually requires the cutting of the plaster and adding a separate drain path, in addition to the installation of the new drain cover. The purpose is to prevent death and injury from the suction created when the pool is circulating and draining. Such a drain system is not required on pools and spas that are open to no more than a single family residence, but are required on apartments and condominiums. Something to inquire about when your clients are purchasing
condos or apartment buildings. 2. SHORT SALES: Junior Trust Deed holders (seconds and thirds) can be difficult to deal with when negotiating short sales. But don’t ignore them or close the deal without including them. I had a client who was told that the second wouldn’t cooperate in the short sale and that they could not sue the client later. They completed the short sale and the client went forward, paying only the first, for years. As you know, the second trust deed remains in place. Three years later, the second holder came after the client, demanding full payment as well as penalties and late fees. Become educated if you intend to work in this area, and encourage your fellow agents to do so as well, and to ask questions of knowledgeable people. 3. INSPECTIONS: Never underestimate
the seller’s ability to fail to disclose. I frequently see matters where sellers don’t tell agents, who don’t tell buyers of problems with the property being sold. Leaks, bad plumbing, noisy neighbors, property line disputes all are a lawyer’s dream. To complicate matters, condominium HOAs try to tell the new owner that the problem belongs to the individual owner. Save the buyer, seller and yourself a lawsuit by telling the seller to disclose, in writing anything that he/she would want to know and that the buyer could be upset about later. Additionally avoid the inspector that you know will OK the property with only minor recommendations. If you see any signs of previous leaks for instance, help the buyer follow up. Help the buyer to know any potential problems before you close escrow.
Windows XP & Office 2003 - Support Ending
Why is Microsoft ending support for Windows XP and Office 2003?
ensure you deploy before end of support.
In 2002 Microsoft introduced its Support Lifecycle policy based on customer feedback to have more transparency and predictability of support for Microsoft products. As per this policy, Microsoft Business and Developer products, including Windows and Office products, receive a minimum of 10 years of support (5 years Mainstream Support and 5 years Extended Support), at the supported service pack level.
It means you should take action. After April 8, 2014, there will be no new security updates, non-security hotfixes, free or paid assisted support options or online technical content updates.
Thus, Windows XP SP3 and Office 2003 will go out of support on April 8, 2014. If your organization has not started the migration to a modern desktop, you are late. Based on historical customer deployment data, the average enterprise deployment can take 18 to 32 months from business case through full deployment. To ensure you remain on supported versions of Windows and Office, you should begin your planning and application testing immediately to
What does end of support mean to customers?
Running Windows XP SP3 and Office 2003 in your environment after their end of support date may expose your company to potential risks, such as: Security & Compliance Risks: Unsupported and unpatched environments are vulnerable to security risks. This may result in an officially recognized control failure by an internal or external audit body, leading to suspension of certifications, and/or public notification of the organization’s inability to maintain its systems and customer information. (Continued on Page 9)
Arcadia REALTOR® Magazine
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Market
Matters
Market Statistics for the San Gabriel Valley Single Family Homes
City
6
Zip Code
Condominiums
Price % Sales of Chg from Single Family Price Median February Homes SFR ($1,000) 2013
Alhambra
91801
4
$548
Alhambra
91803
11
Altadena
91001
17
Arcadia
91006
Arcadia
February 2014
Price Median Condo ($1,000)
Sales Count Condos
14.1%
10
$490
9.0%
$550
17.0%
25
$820
91007
18
Azusa
91702
Duarte
SFR Only
Price & Chg from Median February Home Price/ 2013 Sq. Ft.
$433
3.1%
$408
2
$428
44.9%
$374
1
$1,150
n/a
$340
-4.7%
8
$434
-27.7%
$483
$1,365
21.3%
12
$464
-0.7%
$555
15
$328
27.3%
8
$214
5.7%
$285
91010
17
$380
35.5%
3
$273
-14.0%
$325
El Monte
91731
3
$370
23.3%
1
$527
157.1%
$314
El Monte
91732
10
$380
24.6%
6
$438
34.8%
$298
El Monte - South
91733
2
$406
21.3%
4
$362
33.6%
$247
Glendora
91740
12
$420
26.3%
5
$323
n/a
$291
Glendora
91741
18
$543
2.5%
3
$386
1.3%
$339
La Ca単ada Flintridge
91011
17
$1,165
-1.5%
n/a
n/a
n/a
$510
La Verne
91750
19
$575
17.3%
4
$210
-6.7%
$296
Monrovia
91016
13
$579
-3.8%
6
$360
13.4%
$403
Pasadena
91101
1
$396
8.5%
6
$610
71.0%
$432
Pasadena
91103
14
$465
24.8%
2
$637
35.6%
$346
Pasadena
91104
17
$605
2.5%
1
$515
40.1%
$393
Pasadena
91105
2
$1,118
28.8%
5
$700
-14.9%
$501
Pasadena
91106
5
$986
10.5%
15
$433
30.1%
$613
Pasadena
91107
18
$595
-26.4%
2
$220
-37.1%
$433
Rosemead
91770
15
$450
13.9%
2
$360
-4.5%
$345
San Gabriel
91775
11
$703
35.1%
1
$260
n/a
$460
San Gabriel
91776
9
$534
0.7%
1
$420
19.3%
$374
San Marino
91108
9
$2,000
29.0%
n/a
n/a
n/a
$828
Sierra Mdre
91024
7
$840
60.8%
2
$455
-12.9%
$512
Temple City
91780
20
$655
12.6%
6
$380
-20.9%
$479
Source: DQNews.com
April 2014
Arcadia REALTOR速 Magazine
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DAY AT THE RACES! FRIDAY, MARCH 14
REALTORS速, family and friends all enjoyed a beautiful afternoon at the Santa Anita Racetrack for the AAR Annual Day at the Races. It was a day filled with good fun, good food and fantastic company. With a gorgeous view of the San Gabriel Mountains, what a setting for such an event! A big thank you to those who came and participated in helping to make this such a great event. Special thank you to Event Chairperson, Kal Antoun of First Priority Financial and all those who helped to sell tickets for the event.
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April 2014
Affiliate Corner
“Three Reasons You Want Higher Mortgage Rates” By John Thompson, TGLoans
Most experts believe rates on longer term mortgages will rise later this year and into 2015 – this tends to be viewed as a negative for the real estate market and that may be true in the short run. However, higher mortgage rates on long term fixed rates will actually be good for the health of the market and therefore your clients and your income. 1) Stabilize the Market - Mortgage rates have been low for so long that many of us have forgotten when a 30 year fixed was in the 6%8% range in a normally functioning market, let alone when they were in the high double digits for a short while in the early 80’s. With tight inventory and lending standards our market is skewed in favor of sellers now. Higher rates will encourage more sellers (who assume appreciation will slow) and buyers (who worry about the higher cost of ownership) to get off the sidelines. Over time this should normalize the marketplace. 2) Bring Back Private Investors and Products - The biggest reason higher rates are needed is that the government still has a hand in 80-90% of mortgage financing today. Private investors are not coming back into the market quickly, simply because yields/ returns are too low for them. Experts estimate that mortgage rates are artificially low by 1-2% if it were not for the support of the Federal Reserve. FNMA and Freddie cannot continue to be the buyers of all the mortgage debt because they are compelled to lend in a narrowly defined box. Private investors will create new products for self-employed borrowers, lower down payments (Continued from Page 5)
Lack of Independent Software Vendor (ISV) & Hardware Manufacturers support: A recent industry report from Gartner Research suggests “many independent software vendors (ISVs) are unlikely to support new versions of applications on Windows XP in 2011; in 2012, it will become common.” And it may stifle access to hardware innovation: Gartner Research further notes that in 2012, most PC hardware manufacturers will stop supporting Windows XP on the majority of their new PC models.
How do I begin my migration? Enterprise Customers: Microsoft offers large organizations in-depth technical resources, tools, and expert guidance to ease the deployment and management of Windows,
and higher debt ratios. Some may argue that this may not be prudent but the reality is that there are a ton of responsible borrowers who don’t fit in the box right now and want to buy and sell homes but don’t because they cannot qualify. We have seen some growth in this area in the last year but if rates rise 1.0%-1.5% I believe we will see a flood of new product and investors opening doors for a new wave of sellers and buyers. 3) Create Inflation - Inflation has been benign for years and some argue that we should be worried about deflation. However, most economists agree 2%-3% inflation is good for homeowners and the economy in general. Normal inflation leads to higher asset prices, higher incomes and improve returns on fixed income investments like savings, money market funds, bonds etc. This generates added income for owners of these assets, typically older investors, which drives more money into circulation to be spent - leading to a virtuous cycle within our overall economy. So don’t be afraid of higher rates - they are coming and it is a good thing!! Understand how they help you and your clients. Take advantage of where we are now but be prepared to advise and assist your clients over the next decade as rates rise along with a healthier real estate market! John Thompson is a Mortgage Advisor and Branch Director with First Priority Financial - A Direct Lender and Mortgage Broker. The TGloans Team creates a Remarkable Borrow Smart/Repay Smart Experience for their clients. Find out more at www.borrowsmartgo. com 626-583-1623 | john@tgloans.com. Office and Internet Explorer products and technologies. To learn more about migration and deployment programs, please contact your Microsoft sales representative or Certified Microsoft Partner. Learn how to pilot and deploy a modern desktop yourself, download the free Microsoft Deployment Toolkit and begin your deployment today. Small to Medium Business: There are many options for small and medium businesses considering moving to a modern PC with the latest productivity and collaboration tools. Small to midsize organizations should locate a Microsoft Certified Partner to understand the best options to meet their business needs. If your current PC meets the system requirements for Windows 7 or Windows 8.1, you can buy Windows 7 Professional or Windows 8.1 Pro from a local retailer or Microsoft Certified Partner. If your PC does not meet system requirements, consider purchasing a new business PC with Windows 8.1 Pro. Source: Microsoft Arcadia REALTOR® Magazine
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through the lens
A Look at What’s Happening Around the AAR
PEPster B re Chris Holakfast with Assem Affairs, M den and Direc blymember, e Construc tro Gold Line Footor of Public tion Auth ority, Lisathill Extension Levy Buc h Global Networking Eve with Foreign Buyers &nt: “Dealing Guest speakers: Winn Investors” es Tony W. Wong, AttorneyWong, CPA; and Hung, Wells Fargo. Choe
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April 2014
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 Nate Ellis, of Walnut Creek, California offered his expertise and knowledge to each of the attendees. A total of 18 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 instructor are (in alphabetical order): Vicki Adams, Alma Aguilar, Toddy Chapman, Alexandra De Graeve, Jan Greteman, Gina Huang, Edmon Lee, Angel Lerma, Fanny Leung, Xiao Lin, Ling Liu, James Manoledes, Pushpalatha Nagaraj, Aileen Noche, Fernanda Otalora, Connie Snider, Ning Trillana and Jun Xu.
Appy Hour The Tech / YPN Committee has been hosting “Appy Hour” on the third Thursday of every month from 6 p.m. to 8 p.m. As a FREE opportunity to network, socialize, and learn about effective and prized apps, the Tech / YPN Committee cordially invites all to come join the events! We meet at a different location every month and vote for the best app for its purpose at the “Appy Hour”. Free appetizers will be served. Drinks will be accommodated via a no host bar. March 20th was our last event and it was a huge success. The bustle of professionals from a plethora of fields joined together to eat and drink amongst the discourse of top rising apps. The top three apps of the evening were “Chase”: for mobile banking functionality, “Waze”: community based traffic & navigation app, share real-time traffic and road information and “CardMunch”: take a picture with the app and a business card is converted to a contact automatically. March’s “Appy Hour”
was held at The Original Peppers Mexican Grill & Cantina in Arcadia, and was sponsored by Laura Pozzi, Cutco Closing Gifts. The April “Appy Hour” event will be located at Robin’s Wood Fire BBQ in Pasadena on Thursday April 24th from 6 p.m. to 8 p.m. This Month Featuring: Charity Karaoke!
We look forward to seeing you all at the next “Appy Hour”! Bring your business cards, your thinking caps, and share with us your favorite app! Arcadia REALTOR® Magazine
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Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006
“45-Hour Continuing Education Review & Exams”
CalBRE Course Sponsor #2473, 45 Hour CalBRE Credit
Tuesday, April 29, 2014
Registration Deadline April 25, 2014 9:00 a.m. to 12:00 p.m. Check-In: 8:30 a.m. AAR Building Cost: REALTOR® Members: $80 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
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