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JAN - MAR 2020

PROUDLY SERVING THE REALTORS® OF ARCADIA, BRADBURY, DUARTE, MONROVIA & SIERRA MADRE

Lunar New Year 2020 IN THIS ISSUE:

SAFETY:

"Follow Your Instincts"

TIPS for Reducing

Energy Consumption

COMMENTS from

the AAR Legal Counsel

& Price Sales REPORT

AAR Awards & Installation © 2020 Arcadia Association of REALTORS® | www.theaar.com | 626 446.2115 | 601 S First Avenue, Arcadia, CA 91006


2020 ASSOCIATION OFFICERS Jim Maceo 2020 PRESIDENT Julie Bencosme PRESIDENT-ELECT May Rahmanian TREASURER Kelvin Chang IMMEDIATE PAST PRESIDENT

BOARD OF DIRECTORS Ryan Asao Renee Bannoura David Chen Cecil Griffin Cheryl Johnson Michael Kwok Mike Vachani

C.A.R. DIRECTORS Ryan Asao Andy Bencosme Julie Bencosme Roy Blume Cecil Griffin Jim Maceo May Rahmanian Mike Vachani Kelvin Wong

ASSOCIATION STAFF Andrew Cooper Ext. 308 Chief Executive Officer Andrew@TheAAR.com Diane Fraser Ext. 306 Marketing Communications Coordinator Diane@TheAAR.com Amy Larsen Ext. 307 Director of Finance / Office Manager Amy@TheAAR.com Gloria Leung Ext. 305 Receptionist / Member Services Gloria@TheAAR.com Stephanie Maertens Ext. 303 Director of Education & Commercial Real Estate Stephanie@TheAAR.com

Cooper’s Corner Dear valued Arcadia Association of REALTORs® members and Affiliate Business Partners, It’s so exciting to me that we’re embarking not only on a new year but also a new decade! Your AAR Board of Directors, staff team members and I wish to take a moment to extend our sincere gratitude to each of you for your ongoing commitment to our industry and for renewing your membership with the Arcadia Association of REALTORS®. We take all our new memberships and returning membership renewals seriously and we promise to deliver a world-class membership experience. 2019 was certainly a year to remember with so many national and international events making the headlines including the devastating natural disasters here in California. Not to be outdone, the housing sector was also a challenge with inventory, affordability and some unfortunate legislature affecting our industry. However you persevered and rose to the challenges! AAR members should take pride in knowing that through your efforts, countless clients and customers have found successful solutions to their real estate needs during these uncertain times. Undoubtedly, they will be loyal to you in the years ahead and for that outcome, you should be commended and applauded. While there is still some uncertainty as to what 2020 will bring us, one thing remains certain: The commitment from the Arcadia Association of REALTORS® has never been stronger. Our focus will continue to be on helping your business grow by providing you with access to leading industry related tools, training, outstanding member support and technology that will better position your business for success. We will charge in to 2020 together, and by working together, we will enjoy the mutual benefits of AAR membership for many years to come. On behalf of the entire Board of Directors and our internal team members, we wish you the best of success for a top-producing and healthy new year and new decade.

Natasha Miu Ext. 301 Membership Services Manager Natasha@TheAAR.com Laura Thai Ext. 304 Director of Broker Compliance & Member Outreach Laura@TheAAR.com

ARCADIA ASSOCIATION OF REALTORS® 601 South First Avenue Arcadia, California 91006 626.446.2115 PHONE · 626.446.4072 FAX www.TheAAR.com 2

ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020

Yours in success,

Andrew Cooper

CEO, RCE, CIPS

AAR OFFICE


JANUARY-MARCH 2020 | VOLUME 24 | NUMBER 1

CONTENTS 18 2020 Annual Awards & Installation A recap of the 96th Annual Inaugural Celebration held on Friday, January 17th at the Altadena Town & Country Club.

Additional Content 8 AAR Halloween Costume Caravan See some of your favorite members dressed up for the Annual Halloween Costume Contest. 12 Outgoing President's Message A heartfelt farewell from our 2019 President, Kelvin Chang.

13 Incoming President's Message A warm welcome from our 2020 President, James Maceo.

2 Cooper’s Corner

Andrew Cooper, Chief Executive Officer

4 Monthly Sales & Price Report

Year End Market Statistics for the San Gabriel Valley

6 Attorney Comments Dave Freeman, AAR Legal Counsel

14 Your 2020 AAR Officers & Directors Please welcome your 2020 Officers and Directors of the Arcadia Association of REALTORS®. 15 2019 Legislative Meet & Greet 16 AAR Holiday Breakfast Caravan AAR members celebrated the Holiday Season with festive music, thoughtful messages and a lovely breakfast at the Weekly Caravan meeting.

9 Be Safe Out There! "Follow Your Instincts" By AAR Education Committee

10 Affiliate Corner

"How To Make Eco-Conscious Shoppers Smile" By John Sun - President/CEO, Budget Blinds

21 CRMLS Marketwatch Report

2019 4th Quarter Los Angeles County Statistics

17 Lunar New Year 2020

ON THE COVER

AAR celebrated the 2020 Chinese New Year and all the Good Luck the Year of the Rat will bring with authentic Lion Dancers at the Weekly Caravan meeting.

JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


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ATTORNEY COMMENTS David Freeman, AAR Counsel December 2019 - January, 2020

Septic / Sewer

Many areas of cities and counties have properties where city sewer lines don’t reach. This may include some very nice areas, some old homes built before the sewer lines reached that area, and some hillside areas, where it was/is difficult for the city sewer lines to reach. Always become familiar with the areas you list and sell, and if you aren’t knowledgeable about the area you are working in, be sure to work with someone who is. The problem which may arise, after the closing, is that the toilets and sinks back up with a horrible smell and the buyer calls you, frantic, and asking what happened. If there is no sewer hookup, but a septic system instead, the onsite tank may be full, requiring periodic emptying, or the system may be old and not working properly, and the new owner may be looking at a costly upgrade, sometimes requiring an expensive connection to the city sewer line, which may be at some distance. Whether you represent the seller or the buyer, watch for this issue, on the Transfer Disclosure Statement, and by looking at the property and knowing the area.

Triple Nets

Lease Terminations

When the tenant, commercial or residential, finds it necessary to end the lease prior to the scheduled end of term, and has no “outs,” in the lease, strongly advise them to get to a competent real estate attorney for counselling, prior to notifying the landlord or vacating the premises. Otherwise, the tenant could find themselves paying the rent for the remainder of the lease term.

Often, TNs are purchased by landlords, who are tired of apartment management (Tenant, trash, toilets, trouble, and telephone calls), who are in a 1031 exchange to avoid capital gains tax, but want to continue receiving revenue from their investments.

By meeting with an attorney prior to cancelling the lease, the tenant may find they have valid reasons for vacating with cause, or a way to mitigate damages, or to force the landlord to mitigate damages: a) The landlord must attempt to re-let the property at the same or comparable rent for the remainder of the term, and subtract the rent so gained from the rent the vacating tenant would otherwise owe. b) The original tenant must be given the opportunity to find a suitable replacement tenant, and the rent so obtained would lessen the damages. c) There may be valid reasons for the departure of the original tenant that, properly posed to the landlord prior to the departure of the original tenant, may cause the landlord to allow the termination of the lease without damages charged to the tenant.

TNs are a different area of real estate, and a knowledgeable broker and attorney should be involved, to avoid the pitfalls, one normally would not be aware of.

Always suggest the tenant get counsel prior to taking action, that they sometimes are unaware will cost them a great deal of money.

You will hear this term occasionally, and whether you deal in them or not, it is good to be aware, in case your clients inquire. Triple Nets (TNs) generally refer to a rental property, wherein the tenant takes care of the repairs, insurance, property tax, and pays rent to the landlord, who has no duties to the property, other than to receive the rent. The property can be a commercial building, grocery store building, convenience store, or even a big-box store, and generally the landlord gets to depreciate the building(s) on their tax return.

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ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


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JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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OCTOBER,

2019

30

AAR CARAVAN

8

ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


Be Safe Out There!

By AAR Education Committee With the New Year upon us, it is a great time to review some Best Practices for REALTOR® Safety. Unfortunate events in the news have shown us that real estate professionals are not exempt from bad circumstances and horrible situations. We would like to share some ideas with you to help keep you safe in your business this year. OPEN HOUSES • Always try to show property in the daylight. • Always have a second agent or person at the showing with you. • Think of an escape route or exit strategy ahead of time in case of an emergency • Women, wear a comfortable and practical shoe in case you need to get away quickly. • Always keep your keys and phone on you. • Always be attentive and assertive - do not get distracted by your phone. • Bring Pepper Spray. FIRST MEETINGS WITH POTENTIAL CLIENTS • Meet in your office or a local coffee shop for the first time. This ensures their image can be captured by cameras. If you have no choice but to meet in their home, bring a colleague with you. • Ask for some form of identification so you can confirm that they are who they claim to be.

“ ” FOLLOW YOUR

INSTINCTS!

PROPERTY SHOWINGS • If possible, ask the buyer to drive to the house themselves, rather than taking them in your car. This is both for safety and also, it is less liability for agents in case of an accident. • Be sure to know exactly where property keys are located all times. Leaving keys outside of the home in locations such as under the doormat, above the door or behind a bush can expose you to the possibility of someone copying the key without your knowledge. Use a secure, electronic lockbox system so you can better control keys and access to a property. • Bring Pepper Spray. • Let the client take the lead. You may be inclined to lead clients through the property, but it’s safer to follow them so you always have them in your full view. Avoid going into the basement of a property and always be mindful of exit locations.

GENERAL BEST PRACTICES • Make sure someone always knows your location. Before leaving for a showing, or to meet a potential client, provide a colleague, friend or spouse with the address of the property where you’re going, along with the name and personal information of the client you’re meeting. Utilize location finding devices such as “Find my iPhone” so someone can easily track the location of your phone if necessary. • Be mindful of what you wear. While you always want to put your best foot forward with a client, you also don’t want to appear attractive to criminals by wearing expensive jewelry or watches. It’s best to leave the Rolex at home. • Know what city you are in and program emergency numbers on your phone as ‘favorites’ – local police, fire department. Calling 9-1-1 on a cell phone will give you Highway Patrol. The switchboard will transfer you, but you could be wasting precious time. Above all, FOLLOW YOUR INSTINCTS! If something feels “off” or you just don’t feel “right” about a situation or person, don’t feel obligated to be alone with them or show them properties. If you are in the middle of a situation that is bothering you, go with your gut feeling and leave immediately. The AAR Education Committee wishes you a safe and prosperous New Year!

JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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AFFILIATE Corner "How To Make Eco-Conscious Shoppers Smile"

Window Treatments Help Reduce Energy Consumption and Are Eco-Friendly Too By John Sun - President/CEO, Budget Blinds If new window treatments are on your Springtime home spruce up list and you want to make a more environmentally friendly purchase, window coverings has a number of products that can make eco-conscious shoppers smile. Consumers are seeking out and choosing eco-friendlier products for their homes. The results of Information Resources Inc’s 2007 Sustainability study revealed that “the consumer market for sustainable products and packaging is viable and growing.” The survey also revealed that “one-in-five U.S. consumers are ‘sustainability-driven’ in brand and store selection.” “We’re getting more requests from clients who want window coverings that look great, are made in a way that’s kinder for the environment and that they can feel good about having in their homes.” “We have a growing list of products available for customers who want to purchase environmentally friendlier items for their homes.” One product line eco-conscious homeowners should consider is the company’s private label, Signature Series®. The entire product line is certified by Green Built Home. In addition to the Green Built Home certification Signature Series® products are manufactured in facilities that have adopted many ecofriendly practices, such as: using sawdust to fire kilns and heat the factory, recirculating water in cooling systems that saves over 90 million gallons annually and recycling 75 percent of the total waste in one of its plants. 10

In addition to its Signature Series® products, window covering offers a variety of products from its other Alliance vendors for people who want to make more environmentally-conscious purchases.

Low Indoor Emissions

Many people are making choices that not only beautify their homes but are healthier choices, too. Some window coverings have a number of products that have been certified by the GREENGUARD Institute, an industry-independent organization that established stringent standards regarding acceptable indoor air quality standards for indoor products, environments and buildings. Consumers interested in these products should inquire about the following products: Shutters and wood blinds, Genesis II roller shades and panel tracks made from Sheerweave 2000, 2390 or 2500 or Mermet 3G materials. Retractable screens are also made with the material.

Renewable or Recycled Resources

Some consumers choose products that are made with renewable or recycled resources. Many window treatments and area rugs are made from reclaimed or sustainable materials. Woven Wood Shades are made from renewable crops, such as: grasses, reeds, bamboo and jute. Certain wood shutters and wood blinds are made with wood obtained from a certified sustainable hardwood forest.

Energy Savings

Closing the window treatments in your home, particularly in south-facing and west-facing windows, blocks the sun and reduces heat gain. This allows your air conditioner to operate less during the summer. Some window treatments prevent heat gain better than others, such as shutters and cellular shades. Should you need more information in regards to your window covering needs, please contact me directly at my office 626-309-7588, or email : Jsun@budgetblinds.com.

ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


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JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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2019 AAR PRESIDENT

A Farewell from Kelvin Chang Happy New Years AAR Family & Friends! 2019 truly was an incredible and eventful year for the AAR, and we are so appreciative and thankful for your continued membership and support. Through the collective efforts of the AAR staff, Board of Directors, Committees, Affiliates, volunteers, and your participation at our 220+ events throughout the calendar year, collectively we have accomplished and improved our services and educational offerings to our membership greatly!

A Year in Review

In review of 2019, C.A.R. and most associations throughout the state experienced lower membership numbers. Despite some agents retiring or exiting the industry, the AAR ended the fiscal year in a very favorable and positive financial position without having to access reserve funds. With prudent spending, efficiencies in systemizing operations, as well as strong support from all our affiliates and volunteers, AAR once again managed to deliver our members a ton of professional development classes, networking mixers, charity & social events, and develop strong relations with our local communities and businesses. We updated and developed a brand new website with enhanced functionality and aesthetics, and we now have Zoom web conference technology allowing you to participate in some of our committees online.

Looking Forward to 2020

We have experienced modest growth in home values which have been bolstered by favorable mortgage interest rates, however C.A.R. predicts that we will continue to experience a lack of supply of affordable housing, and many homeowners will elect to remain at their existing homes in this economically conservative environment. In fact, N.A.R. predicts in 2020 that nearly 50% of homebuyers will be millennials! In other N.A.R. news, one of the most controversial topics is regarding the new N.A.R. MLS "Clear Cooperation" policy. This new policy requires listing brokers within (1) business day of marketing a property, to submit the listing to the MLS for cooperation with other MLS participants prior to marketing to the public. Details from CRMLS have not yet been disclosed how to comply, however MLS's have until May 1, 2020 to adopt a policy.

Conclusion & Thank You!

Words simply cannot express how honored I feel to have served as your 2019 President and I am so proud to have worked alongside so many supportive volunteers who greatly contributed their time, passion and energy in developing and fulfilling our Association's mission. AAR is always seeking new members to join at least one of our many committees, and depending upon your interests and passion, trust that You can truly make a difference and become a part of something special with your ideas, involvement, and unique talents. Its been an incredible experience for me personally and on behalf of the entire AAR, we wish you a healthy, happy, and successful 2020! Kelvin Chang Immediate Past-President

In a Presidential election year, politics and legislation may significantly impact our industry, private property rights, taxation, and even our special classification as Independent Contractors. Being a REALTOR® truly has its own challenges, and especially here in California it is becoming tougher to conduct business with stricter regulations, marketing requirements, and fierce competition. Due to the high costs of living here in Southern California, a pattern has appeared where so many REALTORS® have exit the industry, as well as our Clients moving east or out-of-state.

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ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


2020 AAR PRESIDENT

A Welcome from Jim Maceo I am so excited and humbled, to be the 2020 President of the Arcadia Association of REALTORS. I came to this Association in 2012 as a new licensee after 25 years in the motion picture business, a business that I loved but was saddened by that business’s migration out of California to pursue tax incentives being offered by other U.S. states. Eager to get started in selling real estate, I came to the AAR looking for training and guidance with the MLS and Zip Forms which I certainly found. But I also discovered leadership and guidance from fellow REALTORS that welcomed me to participate in the Association’s many committees. I also discovered what it means to be a REALTOR and how we differentiate ourselves from other real estate licensees. It also helped identify the areas of my business that were, and continue to be, important to me: knowledge, trust, dependability, and cooperation with fellow REALTORS. All because I quietly sat down at a Community Outreach & Equal Housing Opportunity Committee meeting eight years ago. It was that simple, and I was hooked. I find it easy to get involved with things I’m passionate about. How about you? You too are welcomed to participate in our committee meetings if you’re not already. I’ve got a feeling that you’ll find something special in one or two of them. Lastly, I’m interested in new ideas, as well as your concerns at the AAR.

I welcome your call, text, or emails if you have anything regarding the betterment of the AAR. My direct line is, (818) 4244577. Thank you for your membership and your participation. We have an outstanding Association which I’m grateful to its members, affiliates, and staff. Our Association has a long history of leadership and energetic members that have helped make our Association respected locally and nationally and recognized for its global reach and influence - which might explain a bit of my humbleness. I’m truly honored to be trusted with the responsibility handed to me and I look forward to working with you and meeting you all. James Maceo 2020 AAR President

JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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® JANUARY-MARCH2020 2020 14 ARCADIA REALTOR® MAGAZINE · · JANUARY-MARCH


CALIFORNIA LE GI S L ATO R S

SUPPORTING REALTOR® ISSUES

2019 LEGISLATIVE MEET & GREET - NOVEMBER 21, 2019 -

JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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AAR Holiday Breakfast

DECEMBER,

2019

18

AAR CARAVAN

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ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


AAR Celebrates the Chinese New Year

Lunar New Year 2020 YEAR OF THE RAT | LION DANCERS | FENG SHUI CLASS

JANUARY,

2020

22

AAR CARAVAN JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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2020 AAR AWARDS & INSTALLATION A Night of Celebration at the Altadena Country Club for incoming President Jim Maceo, 2020 Board of Directors, and outgoing President Kelvin Chang - JANUARY 17, 2020 -

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ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


2020 AAR AWARDS & INSTALLATION

- JANUARY 17, 2020 JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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2020 AAR AWARDS & INSTALLATION OUR AWARD WINNERS

(L)-Kelvin Wong (R)-Andy Bencosme

(L)-Margaret Garemore (R)-Yvonne Rosas Petty

(L)-James Pai (C)-Andy Bencosme (R)-Nick Zigic

(L)-Sylvia Ramos (R)-Joe Pacilio

Lifetime Achievement Award KELVIN WONG

2019 AAR Volunteer of the Year ANDY BENCOSME

2019 Realtor® of the Year MARGARET GAREMORE

2019 Community Service Award JOE PACILIO

(L)-Bobbi Moriel (R)-Dan Chapman

2019 Affiliate Business Partner of the Year DAN “THE MOVER” CHAPMAN - JANUARY 17, 2020 20

ARCADIA REALTOR® MAGAZINE · JANUARY-MARCH 2020


JANUARY-MARCH 2020 · ARCADIA REALTOR® MAGAZINE

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Friday, May 8, 2020 6:00pm - 9:00pm

New Location:

Knights of Columbus

130 W. Pomona Ave., Monrovia Plenty of parking in the front, back, and along the side the building

Adults: ONLY $25! / $35 at door | Child: $10 (10 yrs & below) / $15 at door ADMISSION INCLUDES:

1 Dinner Plate, 1 Bingo Card, 1 Raffle Ticket Tax ID: 47-5634281 | IRS 501(c)(3) Public Charity Status (Donation to Realtors E4C, Inc. are tax deductible. Donors should consult their tax advisor for questions regarding deductibility.)

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Arcadia REALTOR® Magazine – January-March 2020  

The official publication of the Arcadia Association of Realtors. Proudly serving the REALTORS® of Arcadia, Bradbury, Duarte, Monrovia, and S...

Arcadia REALTOR® Magazine – January-March 2020  

The official publication of the Arcadia Association of Realtors. Proudly serving the REALTORS® of Arcadia, Bradbury, Duarte, Monrovia, and S...

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