Arcadia
REALTOR®
The Official Publication of the Arcadia Association of REALTORS®
PROUDLY SERVING THE REALTORS® OF ARCADIA, BRADBURY, DUARTE, MONROVIA AND SIERRA MADRE
Events 4 Charity -
Smokin’ Jack II
Charity Cigar & Whiskey Tasting Night See page 8
! s s e c c u S A t a h W Congratulations to the 2015 AAR Officers & Directors See page 5
AUGUST 2014
WWW.THEAAR.COM
VOL. 18, NO. 8
Arcadia
REALTOR®
REGULAR FEATURES 4 Events Calendar
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
“Why Title Insurance?” Angie Tang, First American Title Company
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
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
10 Through the Lens
A Look at What’s Happening Around the AAR
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
08.14
{ Arcadia REALTOR® | August | Two Thousand and Fourteen | Volume Eighteen | Number Eight}
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August 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
The Arcadia Association of Realtors® proudly presents:
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2015 AAR Officers and Directors The 2014 Nominating Committee has met and nominated the slate of candidates to serve as Officers and Directors for 2015.
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Smokin’ Jack II Cigar & Whiskey Tasting Charity Event A look at the recent AAR Events 4 Charity fundraising event at Matt Denny’s in Arcadia.
ADDITIONAL CONTENT 3
AAR New Members The AAR welcomes its newest REALTOR® Members.
COMMERCIAL
2014
ON THE COVER
REAL ESTATE
EDUCATION DAY
Friday, September 19, 2014
University Club of Pasadena
9:00 a.m. - 1:00 pm.
175 N Oakland Ave., Pasadena, CA 91101
GUEST SPEAKERS Wayne Ratkovich,
L.A.’s Premier Developer & Buyer & Seller of Real Estate How to Work with Developers to Get Your Deal Accepted. Q & A Available
Learn what is happening in Commercial Real Estate and where things are headed. Learn how to network and conduct business with these firms and discover the ins and outs of working inside commercial real estate transactions with these companies.
Bill Ukropina, Coldwell Banker Commercial “Marketing on Steroids for Commercial Agents”
Learn How You can Double or Even Triple Your Business!
John Tang,
Lead Generation Trainer / Expert on LinkedIn
Early Pricing*: $99
Regular Pricing: $149 *For Early pricing, you must register on or before Friday, August 29th.
Teaching Real Estate Professionals How to Create Leads Utilizing all LinkedIn Tools!
Event Fee Includes: Event Admission, Parking & Buffet Lunch
AAR New Members
To register for this exciting event, visit www.TheAAR.com and click on the event name under “Upcoming Events”. For questions, call the AAR at (626) 446-2115. www.TheAAR.com ~ 601 S. First Ave. Arcadia, CA 91006 ~ 626-446-2115 ~ Fx. 626-446-4072
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): Sam Prasat-Arporn, Pacific Reliance; Lillian P. Liu, Re/Max Premier Properties; Chao Zhang, Long Dragon Realty Group, Inc.; Xiaoyan Dai, IRN Realty; Donna L. Rey, Distinctive Properties; Jeremiah R. Quinn, Coldwell Banker Arcadia; Eddie M. Villalobos, Paramount Prop. Realty; Tsun H. Chang, Highland Real Estate; Vincent Han, Long Dragon Realty Group, Inc.; Michelle Louie, Long Dragon Realty Group, Inc.; Yolanda S. Carrillo, TNG Real Estate Consultants; Nabil Y. Saleeb, Long Dragon Realty Group, Inc.; Derlan Y. Chou, IRN Realty; Anthony J. Corsini, Dilbeck Real Estate; Eng L. Tan, US National Realty; Chiao-En Lin, Long Dragon Realty Group, Inc.; David D. Won, First Investmnt & Realty; Kim C. Lim, Century 21 Ludecke Inc.; John K. Lui, Coldwell Banker George; Fredy A. Ureta, Paramount Prop. Realty; Hongxia Luo, Highland Real Estate; Donald M. Tran, Coldwell Banker George; Morison Woo, IRN Realty; Huong M. Thai, Grandmark Realty Inc.; KunLun Xiang, Coldwell Banker Dynasty Arcadia; Kevin Han, Miars, REALTOR®; Chester C. Tseng, Dilbeck Real Estate; Elisa S. Weng, Millennium Group Realty; Jiarong Zhang, Long Dragon Realty Group, Inc.; Feng Zhou, Millennium Group Realty; Crystal Chao, Kingston Realty; Jessica Q. Liu, Century 21 Earll, LTD.; Yen C. Chen, Keller Williams West Foothills; Robert Hu, Highland Real Estate; Christel L. Velasquez, Resource Real Estate Services; Laurie E. Carlson, Century 21 Adams & Barnes; Virginia C. Wong, Highland Real Estate; Hongbin Liu, Highland Real Estate and Yongmei Wang, Highland Real Estate. Arcadia REALTOR® Magazine
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August Events F 1
12:00 p.m. - 1:30 p.m. - AAR Speech Masters
Sa 2
11:00 a.m. - Relay for Life @ Santa Anita Park
Su 3
11:00 a.m. - Relay for Life @ Santa Anita Park
M 4
10:00 a.m. - 3:00 p.m. - CRMLS Training
T 5
10:00 a.m. - 12:00 p.m. - zipForm Plus Training 11:00 a.m. - Global Real Estate Committee Mtg.
W 6
8:30 a.m. - MLS Caravan 9:30 a.m. - Events 4 Charity Auxiliary Mtg.
Th 7
9:30 a.m. - Commercial / Investment Committee Mtg. 11:00 a.m. - Commercial Education & Networking Session
T 12
11:00 a.m. - Tech / YPN Committee Mtg.
W 13
8:30 a.m. - MLS Caravan 8:45 a.m. - Affiliate Committee Mtg. 9:30 a.m. - MLS Committee Mtg.
F 15
11:45 a.m. - 1:30 p.m. - PEPster / Broker & Manager Luncheon @ Santa Anita Golf Course 12:00 p.m. - 1:30 p.m. - AAR Speech Masters
T 19
2:00 p.m. - Education Committee Mtg.
W 20
8:30 a.m. - MLS Caravan 9:30 a.m. - Equal / Housing Opportunity & Public Relations Committee Mtg. 1:30 p.m. - Local Governmental Relations Committee Mtg.
Th 21
11:00 a.m. - 12:00 p.m. - Lunch & Learn Series Class
T 26 W 27
1:30 p.m. - Budget and Finance Committee Mtg.
Th 28
5:30 p.m. - 9:30 p.m. - YPN “Appy Hour”
F 29
8:30 a.m. - Board of Directors Mtg.
8:30 a.m. - MLS Caravan
It has been said throughout history that whatever you believe with conviction, you can achieve. Henry Ford said, “Whether you think you can or you think you can’t you are probably right.” Let’s not be like the elephants and go through life being tethered because of a limiting belief you were given or developed years ago. Take charge of your business and live it and work it to the fullest. You really do deserve the best. To your success,
Andrew Cooper Chief Executive Officer
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August 2014
FROM THE CEO’S DESK Why Elephants Don’t Run My 3-year-old son loves the zoo. He likes most of the animals big and small, feathered and furry. His favorites are the elephants. At a recent outing to the Los Angeles Zoo my wife, son and I were watching an elephant being washed by a zookeeper, complete with the elephant entertaining us by spraying water through his trunk. Our son loved this display. At lunch we found out just how much our son loved that elephant’s fire hose antics because he did the same thing by squirting water through a straw. Many red-faced, profuse apologies later, we managed to get through the rest of lunch. Anyway, back to the elephant being washed by the zookeeper. I watched with curiosity as the large elephant just stood there tethered by a standard rope around his front foot not attempting to move. It was clear to me the elephant could break free anytime it wanted. I was able to ask another nearby zookeeper why the elephant didn’t try to snap the rope and roam free. The answer was intriguing: the person said that when elephants are very young the zookeepers use the same size rope to tether them and at their young age, the rope is strong enough to hold them. As the elephants grow older, they are conditioned to believe the rope can still hold them, so they never try to break free. That answer got me thinking. Like the elephants, how many of us go through life tethered to a belief that we cannot do something, simply because we failed once before? How many of us are being held back by old, outdated beliefs that are no longer valid? Worse, how many of us are held back because of someone else’s limiting beliefs? When we got into real estate, or the mortgage business or title, etc., we probably were cautioned not to take too many risks, usually by well-intentioned friends and family. How many of us heard, “You can’t do that, it’s not stable enough?” Congratulations! You challenged their limiting beliefs by moving ahead. If you begin to question a negative belief, you automatically weaken it. The more you question your own limiting beliefs, the more they are weakened too. Once you realize you are a fantastic Realtor® or outstanding home warranty salesperson or insurance agent, you have weakened that old belief and began to replace it with a new, empowering one. Remember back to times in your past when you were successful and use that experience to lift you to even greater heights.
Attorney Comments August 2014
By Dave Freeman, Association Counsel BUYER’S INSPECTION ADVISORY: This is a useful document that must always be given to the Buyer before his/her contingencies are waived. But often, the buyer will claim not to have received it (after a dispute arises). This presents possible liability for the Seller and agents, which the Advisory is designed to prevent. It is very helpful to have the Buyer’s signature on a copy of the Advisory, stating that he has read and reviewed it. If the Buyer refuses to sign, document your attempt, the date and place of the refusal, in your file, as well as any witnesses. Further proof of the attempt and delivery can be done by return receipt mail, fax and e-mail, if they have a date and address mark.
be delivered to the Buyers prior to their contingencies expiring. Rules and restrictions can be very important in certain situations unknown to the agent. Therefore all documents should be delivered early, the Buyers should be strongly encouraged to review them and look for advice with any questions or disagreements. The Buyers may be planning on adding a structure (added room, pool house, storage facility), and the Rules may not permit same. It’s too late after the contingencies are waived. Parking could be an issue, as many HOAs don’t allow parking in the driveways, even if part of the individual unit. Some HOAs are very restrictive re: what kind of house you can build and the type of roof allowed.
HOMEOWNER ASSOCIATION RESTRICTIONS: As you know, there are several HOA documents that must
ESTOPPEL CERTIFICATES: Estoppels tell the potential Buyer under what terms the tenants exist,
whether it is a commercial or a residential rental situation. They are extremely important to protect the seller from claims of fraud by the buyer, and to protect the Buyer from wild claims of tenants that they have ridiculously beneficial rental situations. The Estoppels are simple documents, stating the length and terms of the rental. Most importantly, they must be signed by the tenants to prevent any argument later. I have seen very large lawsuits where the Estoppels were not done, or not signed, and after close of escrow, the tenants claimed extremely low rents. Remember, the price in commercial apartment deals is based greatly on the claimed income. Therefore, the amount of the lawsuit can be very large, and they frequently include the agent and broker.
2015 AAR OFFICERS & DIRECTORS
Congratulations to the following members who were approved at the recent Membership Breakfast on Wednesday, July 31, at the Arcadia Masonic Center.
OFFICERS President:
President-Elect:
Joe Pacilio Century 21 Earll, Ltd.
Roy Blume Century 21 Village Realty
Vice President:
Secretary/Treasurer:
Kelvin Chang Coldwell Banker Dynasty
Sylvia Ramos Dilbeck Real Estate
DIRECTORS Ryan Asao, Podley Properties Andy Bencosme, Century 21 Village Realty Julie Bencosme, Dilbeck Real Estate Margaret Garemore, Podley Properties Fred Madjar, Townsquare Realty Mark Ramos, Dilbeck Real Estate Dave Scarminach, Dilbeck Real Estate Irene Truong, Century 21 Village Realty Mike Vachani, Provenio Real Estate Group Arcadia REALTOR® Magazine
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Market
Matters
Market Statistics for the San Gabriel Valley Single Family Homes
City
6
Zip Code
June 2014
Condominiums
Sales of Price % Single Family Price Median Chg from Homes SFR ($1,000) May 2013
SFR Only
Price Median Price & Median Condo Chg from Home Price/ ($1,000) May 2013 Sq. Ft.
Sales Count Condos
Alhambra
91801
9
$570
9.2%
19
$420
8.7%
$428
Alhambra
91803
10
$520
18.3%
4
Altadena
91001
30
$620
-4.6%
1
$394
2.3%
$369
$968
-7.9%
$427
Arcadia
91006
37
$979
11.3%
2
$619
-18.6%
$572
Arcadia
91007
29
$1,379
12.1%
11
$590
26.2%
$592
Azusa
91702
22
$340
1.5%
13
$347
56.1%
$271
Duarte
91010
7
$535
52.9%
4
$423
25.2%
$333
El Monte
91731
3
$435
22.7%
1
$520
100.0%
$328
El Monte
91732
12
$380
12.2%
9
$325
0.0%
$253
El Monte - South
91733
8
$353
-4.7%
1
$288
6.9%
$358
Glendora
91740
20
$448
16.6%
6
$352
n/a
$329
Glendora
91741
23
$610
2.9%
3
$415
10.7%
$361
La Ca単ada Flintridge
91011
22
$1,380
0.9%
1
$834
18.7%
$626
La Verne
91750
23
$515
9.5%
6
$362
15.3%
$298
Monrovia
91016
28
$673
23.1%
9
$485
16.0%
$399
Pasadena
91101
n/a
n/a
n/a
15
$567
31.7%
n/a
Pasadena
91103
16
$775
49.0%
4
$885
96.7%
$462
Pasadena
91104
18
$555
4.7%
1
$376
21.3%
$446
Pasadena
91105
8
$1,128
7.9%
12
$890
20.9%
$640
Pasadena
91106
7
$3,050
177.3%
16
$469
6.7%
$671
Pasadena
91107
25
$900
28.6%
14
$405
1.3%
$481
Rosemead
91770
25
$436
-3.1%
2
$348
15.8%
$322
San Gabriel
91775
21
$795
23.8%
2
$536
-13.6%
$430
San Gabriel
91776
13
$550
21.4%
3
$388
10.9%
$385
San Marino
91108
13
$1,888
2.1%
n/a
n/a
n/a
$941
Sierra Mdre
91024
10
$788
-9.8%
n/a
n/a
n/a
$474
Temple City
91780
21
$664
13.3%
5
$590
0.9%
$464
Source: DQNews.com
August 2014
Arcadia REALTOR速 Magazine
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Smokin’ Jack II
Charity Cigar & Whiskey Tasting Night Last month, the AAR Events 4 Charity Auxiliary held its second charity cigar and whiskey tasting charity event at Matt Denny’s Ale House Restaurant in Arcadia. The cozy outdoor setting was a perfect environment for the fun had by all who attended. Attendees enjoyed three unique whiskey tastings, tasty appetizers, a raffle for some fantastic prizes, a live auction and a discount on wonderfully crafted La Marca Cigars. This event was widely attended and was successful in raising funds to donate to local charities at the end of the year. We would like to offer a special thank you to Event Chairman, Jason Landes, RPM Mortgage who worked ardently to ensure this event was a success. We also would like to thank those who attended to help raise funds for charity!
(Continued on page 11)
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August 2014
Affiliate Corner
“Why Title Insurance?” By Angie Tang, First American Title Company
Real Estate is one our nation’s most valuable economic assets - and the title industry makes it economically viable. The search and examination process performed by the title insurance companies and its agents leads to insurable title. This insurability also protects the rights of our nation’s homeowners. Ownership of an insurable title enables homeowners to use real estate as collateral to obtain financing to buy land, build structures, grow entrepreneurial ventures, and ultimately improve the United States is the only country with a private title insurance industry that has operated for more than a century. The title industry has worked to protect the American dream of homeownership by insuring title for America’s homebuyers and lenders. Title insurance insures consumers against the risk that the home they are buying is not really theirs. It also serves to protect our country’s real estate system - an important part of our nation’s economy, and a model for real estate industries around the globe. There are many title issues that could cause you to lose your real property or your mortgage investment. Even the most careful search of public records may not disclose the most dangerous threat: hidden risks. These issues may not be uncovered until years later. Without title insurance, from a reputable and financially solvent company, the ownership of your home could be jeopardized. Here are some examples of title issues that may occur:
- Deeds by persons supposedly single, but secretly married - Forged Deeds, releases, etc - Surviving children omitted from will - Deeds by foreign Parties - Deeds by Minors - Defective acknowledgements by notaries - Erroneous reports furnished by tax officials
The Title industry takes numerous steps before insuring title. Four essential services are performed during the title process: Title Search and Examination Our highly trained title professionals conduct a search and examination of the public records to find and isolate title risks. As the records are generally indexed by name and not by property location, finding pertinent information can be tedious. The title industry invests millions of dollars to duplicate records and index them into geographic title databases to make the process more efficient. Records that may be searched include taxes, court judgment, deed, mortgage, federal and state records, and encumbrances. Real property characteristics that may be evaluated include zoning, location, survey
issues, etc. Curative Actions During the title search and examination, title defects are found in more than one out of three residential real estate transactions. These defects are remedied or otherwise addressed by title professionals as a matter of course - a process that can be difficult, as well as costly. Homebuyers are often unaware that this important work is being done behind the scenes to protect their interests. The corrective work performed by title professionals also helps to uphold the integrity of the land records upon which our property registrations system is built. Settlement and/or Closing Services For most transactions, the process requires more than 100 timeconsuming steps, including settlement which is the reviewing of contracts or escrow agreements, handle monies, pay off any mortgages, coordinate property inspections, prepare HUD-1 statement, and dozens of additional tasks. Lastly, the Title Insurance Policy When a property’s title is determined to be in insurable condition, the transaction can close and a policy of title insurance can be issued. Among other things, the policy insures against certain title risks that are undiscoverable from public records, such as forgery, fraud, and lack of capacity in prior transactions. Two categories of residential title insurance are available: 1. An Owner’s Policy protects the homeowners from enumerated title risks for as long as the policyholder owns the property. We also offer various extended policies and expanded coverage’s to address title issues that may arise after the policy date, including false claims by identity thieves, neighbors building encroachments, and more. 2. A Loan Policy is generally required by lenders (and purchasers of loans in the secondary mortgage market) to provide insurance that their mortgage liens are valid and enforceable, and that they have priority over other liens or claims. Extended polices and expanded coverage’s are also available to lenders. First American Title Insurance Company is one of the nation’s largest suppliers of title insurers and traces its history to 1889. Backed by First American Title, your transaction will be expertly completed in accordance with state-specific underwriting standards and state and federal regulatory requirements. For more information, contact Angie at: 626-394-2882 or Angie@TitleByAngie.com
Arcadia REALTOR® Magazine
9
through the lens
A Look at What’s Happening Around the AAR
® Emeritus R O T L A E R . .R .A N s a REALTOR® a rs a e Y 0 4 g n ti Celebra
John Garton, t: h g ri to ft le m (Fro ael Ferlisi, h ic M r, le h e o P Mary e Walsh n n ia D , y d e n n e K Carol e Vachani) ik M t, n e id s re P & 2014 AAR ail from Dilbeck, Arcadia h All 4 Recipients
rs AAR Speech Maste 10
August 2014
Commercial Networking & Education Session
Global Ed
ucation &
Networkin
g Event
Smokin’ Jack II (Continued from page 8)
Arcadia REALTOR® Magazine
11
Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006 The Arcadia Association of REALTORS®
Events 4 Charity Presents
Scott Burtz Memorial Charity Golf Classic Monday, September 15, 2014 Glendora Country Club - 2400 Country Club Dr Glendora, CA 91741
Tournament Schedule 10:00 AM Check - In • 12:00 PM Shotgun Start
4 Person Scramble Format - 4 Separate Flights
- Mens A, Mens B, Mixed (Min. 2 Female), Womens $155 per Golfer / $575 for Foursome (If signed up by Friday, August 15, 2014) Includes Lunch & Dinner, Green Fee, Cart, Range Balls and Goodie Bag BEVERAGE CART SPONSOR
Helicopter Golf Ball Drop: $10 Per ball - Chance to win $500!
$10 Golf Challenge:
- Complimentary wedge for participating!
See back for Registration Please make checks payable to Arcadia Association of REALTORS® For any questions, please contact: Stephanie LaPorte of Old Republic Home Protection, 626-664-4769 Email: stephaniel@orhp.com Lysette Burtz of Premium Escrow, 626-446-8221 Email: lysette@premiumescrow.com Arcadia Association of REALTORS® donates to charities that are 501 C-3 nonprofit organizations. Arcadia Association of REALTORS® 601 South First Ave., Arcadia, CA 91006
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
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C. Anthony Phillips, CPA President
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