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Meet the 2018 Global Real Estate Committee See page 14




BOARD OF DIRECTORS Julie Bencosme Cecil Griffin James Maceo Joe Pacilio Yvonne Rosas-Petty May Rahmanian Mike Vachani

C.A.R. DIRECTORS Ryan Asao Andy Bencosme Julie Bencosme Roy Blume Kelvin Chang Margaret Garemore Joseph Pacilio Sylvia Ramos Matilde Gonzales Kelvin Wong

ASSOCIATION STAFF Michael Beltran Ext. 302 IT Director / Webmaster Brenda Faltes Ext. 304 Director of Membership & Professional Standards Amy Larsen Ext. 307 Director of Finance / Office Manager Stephanie Maertens Ext. 303 Director of Education & Commercial Real Estate Natasha Poon Ext. 301 Membership Services Manager Laura Thai Ext. 304 Director of Broker Compliance & Member Outreach Andrew Cooper Ext. 308 Chief Executive Officer

Cooper’s Comments Thinking Globally While Acting Locally Welcome to the AAR’s annual Global Issue of the Arcadia REALTOR® Magazine! Did you know the AAR was one of the very first local REALTOR® Associations in the entire country to start a full-fledged Global Real Estate Committee? We’ve been recognized both statewide and nationally for our global achievements and accomplishments. As an example, the AAR has won the prestigious NAR Platinum Global Council Award 4 years in a row. Less than 1% of local associations around the country receive this award so we’re very proud of these achievements. The AAR is also one of only a few local associations in the country to have a NAR President’s Liaison to another country. Kelvin Wong, AAR past-president 2003 is the PL to Singapore. PL’s are hand-chosen by the incoming NAR President and their role is to assist the President in fostering and continuing relationships between NAR and each respective country. The AAR is also the Ambassador Association to Singapore and we’ve held this proud distinction for many years. In our ongoing efforts to help our members increase their awareness of real estate in other countries the AAR hosted another CIPS (Certified International Property Specialist) course which is a 5-day intensive course on building a global presence in real estate. Additionally, the Global Committee has held classes on real estate in Mexico, Cuba and Costa Rica. They also hosted an International Open House featuring information and cuisine from 6 different countries including Israel, Bosnia, Greece, Singapore, Thailand and England. It was such a smashing success! The AAR was the very first AOR in the country to offer zipForm® Plus training in another language (Mandarin)! The Mandarin class is held on the last Monday of each month. This is yet another example of the AAR being on the cutting edge when it comes to servicing our foreign-language speaking members. Continuing that theme, by design, our staff speaks 5 different languages to serve our diverse membership: English, Spanish, Cantonese, Mandarin and Chiu Chow. Now while I don’t speak a foreign language, I do hold dual citizenship between the United States and the United Kingdom. So if you need someone to explain what “offside” is in soccer or why Meghan Markle’s title is now a “The Duchess of Sussex”, I’m your bloke. On behalf of our 2018 Global Business Committee Chair, Patrick Law and the entire Global Business Committee we look forward to seeing you at one of our many Global events very soon. A world of thanks for being a valued member,

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


Andrew Cooper

Chief Executive Officer


Contents 14


Regular Features 2

Cooper’s Comments


Market Matters


Attorney Comments




On the Cover 14 Committee Highlight - Global Real Estate Global Committee offers programs to provide global education and networking opportunities through our mixers, webinars & presentations.

Additional Content 7

Andrew Cooper, Chief Executive Officer

Foreign Buyers Lessen Their Investments in U.S. Real Estate Ongoing housing shortages and rising home prices are prompting international buyers.

11 New Zealand Bans Foreigners From Buying Homes Lawmakers in New Zealand are hoping to combat soaring home prices and rising homelessness.

Market Statistics for the San Gabriel Valley

Dave Freeman, AAR Legal Counsel

11 Latin America Agrees to Standardize Ethics Rules Real estate associations in the region sign an accord with NAR® to promote and enforce the Code of Ethics.

Through the Lens

12 AAR New REALTOR® Members The AAR welcomes its newest REALTOR® Members of 2018.

A Look at What’s Happening Around the AAR

Affiliate Corner

13 More Commercial Agents Land International Business Nearly one-fifth of REALTORS® in the commercial space say they closed a sale with an international client in 2017.

“Global Economic Impact on Current Real Estate Market” Anthony Carusa, Residential Loan Officer, Logix Credit Union

15 Global Perspectives To Local, International & Lifestyle Real Estate.



Market Matters Market Statistics for the San Gabriel Valley - July 2018


Arcadia Arcadia Duarte El Monte El Monte Glendora Glendora Monrovia San Gabriel San Gabriel San Marino Sierra Madre Temple City

Zip Code

91006 91007 91010 91731 91732 91740 91741 91016 91775 91776 91108 91024 91780

Single Family Homes


Sales of Price Price % Single Family Median SFR Chg from Homes ($1,000) July 2017

Price Median Condo ($1,000)

20 19 18 2 14 17 35 34 14 11 14 9 19

$1,474 $1,529 $531 $678 $515 $575 $753 $783 $850 $633 $2,132 $1,103 $1,000

37.9% -34.9% 11.2% 50.6% 1.4% 8.5% 11.5% 0.7% 4.9% -2.6% -2.2% 0.4% 39.3%

Sales Count Condos

3 8 6 0 10 4 7 9 0 0 0 1 7

SFR Only

Price & Median Chg from Home Price/ July 2017 Sq. Ft.

$855 $618 $385 n/a $492 $467 $462 $550 n/a n/a n/a $645 $748

28.7% 17.0% -9.4% n/a 5.8% 4.8% -14.5% 3.8% n/a n/a n/a -33.2% 6.9%

$629 $651 $444 $974 $400 $410 $398 $537 $554 $521 $908 $657 $539

Market Statistics for the San Gabriel Valley - August 2018 Single Family Homes


Arcadia Arcadia Duarte El Monte El Monte Glendora Glendora Monrovia San Gabriel San Gabriel San Marino Sierra Madre Temple City 4

Zip Code

91006 91007 91010 91731 91732 91740 91741 91016 91775 91776 91108 91024 91780


Sales of Price Price % Sales Single Family Median SFR Chg from Count Homes ($1,000) Aug. 2017 Condos

33 17 19 5 13 18 22 28 22 11 20 12 28

$1,158 $1,075 $598 $430 $515 $567 $685 $732 $909 $615 $2,247 $988 $800


-7.4% -16.5% 16.0% -21.1% 13.2% 7.4% 1.6% 11.7% 5.1% -9.6% 18.6% -1.2 1.5%

7 9 5 4 6 6 3 11 2 4 0 1 3

SFR Only

Price Median Price & Median Condo Chg from Home Price/ ($1,000) Aug. 2017 Sq. Ft.

$778 $584 $395 $453 $383 $455 $500 $562 $730 $578 n/a $1,020 $634

2.7% -1.0% 2.6% 25.8% -7.9% 5.1% -12.3% 22.4% -2.7% 5.4% n/a 29.9% 6.6%

$588 $548 $469 $433 $393 $439 $407 $556 $513 $551 $853 $683 $484


Attorney Comments

By Dave Freeman, Association Counsel

No Deposit Transactions Occasionally, a contract will be signed, and escrow may be opened without a deposit. This is a disaster about to happen, in which the Seller will blame the Agent. If the Buyer elects to back out, after some delay, and the Seller cannot sell the property for the same price, or has paid on the mortgage for several months during the delay, the Seller will demand compensation from somebody. Always be sure the deposit is turned over to escrow. Before that, verify that the check is in the agent’s hands before the Seller signs the contract. The last thing you want is to have a property the Seller cannot safely resell, with no deposit in escrow.

Agent Representing with No Commission The dangers in representing or helping a friend or client without a fee are several. Your broker may frown on such transactions, particularly without notice or permission. Insurance may not cover the lawsuit that could happen in any transaction. The time and effort (unrewarded and unappreciated) will always multiply exponentially from that which was anticipated. The better choice in this situation is to refer your friend/acquaintance/client to a knowledgeable real estate attorney to handle the transaction and take the risk of problems that may arise.

Real Estate Fraud, Using the County Assessor’s Name Many people have recently received notices from, “The Los Angeles County Assessor’s Office,” (LACAO) offering help protect the individual’s property from fraud and theft. These letters appear to be genuine, with the appropriate logos and names. However, be aware that the safeguards actually offered by the LACAO are free. Just go on the website ( to check most any information they need about their property, information these scammers charge for. Additionally, and importantly, the LACAO automatically sends out a written notice to any recorded owner, when there is a change to a deed or trust deed.




A Look at What’s Happening Around the AAR er July Memb on Appreciati ner Lunch Win ams Keller Willi Arcadia



Commercial Mixer with David Chen

Learn with Lunch and tate Farm Amy Loh, S

am Strauss

Social Security Secrets with Ad

Residentail Purchase Agreement with Joel Carlson 6


YPN Charaoke Party for a Purpos e

Foreign Buyers Lessen Their Investments in U.S. Real Estate Source: “2018 Profile of International Transactions in U.S. Residential Real Estate,” National Association of REALTORS®

Ongoing housing shortages and rising home prices are prompting international buyers to pause in their recent homebuying sprees in the United States. International sales in the U.S. totaled $121 billion from April 2017 to March 2018, a 20 percent decline from a year ago, the National Association of REALTORS® reports.

The highest amount of foreign buying activity in the U.S. continues to be centered on three states: Florida (19 percent); California (14 percent); and Texas (9 percent). International buyers report buying a property in the U.S. for numerous reasons, but the most frequent reason, at 52 percent, is for a primary residence, according to the report. However, Chinese buyers were most likely to purchase a home in the U.S. for student housing, while Canadian buyers were the most likely to purchase a property as a vacation home. Indian buyers were the most likely to purchase a U.S. property to serve as their primary residence.

Foreign buyers and recent immigrants accounted for 8 percent of existing home sales, a decrease from 10 percent during the 12-month period that ended March 2017, according to NAR’s 2018 Profile of International Transactions in U.S. Residential Real Estate. “After a surge in 2017, we saw a decrease in foreign activity in the housing market in the latest year, bringing us closer to the levels seen in 2016,” says Lawrence Yun, NAR’s chief economist. “Inventory shortages continue to drive up prices, and sustained job creation and historically low interest rates mean that foreign buyers are now competing with domestic residents for the same, limited supply of homes.” Foreign buyers usually purchase properties that are pricier than the average existing home. The median price for a foreign buyer was $292,400 compared to a median price of $249,300 for all existing homes. Chinese buyers tend to purchase the most expensive properties in the U.S. at a median price of $439,100. Five countries comprised nearly half—49 percent— of the dollar volume of purchases by foreign buyers: China, Canada, India, Mexico, and the United Kingdom. China—for the sixth consecutive year— continued to have the largest dollar volume of purchases. Still, Chinese buyers’ involvement in the market decreased; they purchased an estimated $30.4 billion in residential property in the U.S., a drop of 4 percent from last year.



AFFILIATE Corner “Global Economic Impact on Current Real Estate Market” By Anthony Carusa, Residential Loan Officer, Logix Credit Union I had some noteworthy learning moments in college. One that I can remember particularly well was in a finance, real estate and law class. My professor was going over the history of California real estate and quoted that C.A.R. (California Association of REALTORS®) has been keeping residential statistics since 1905 and never in their documented history of California has there been a loss in value over a 10 year period - any 10 year period. I wasn’t working in the industry then but I recall that feeling significant. Here we are in 2018, almost ten years after The Great Recession started and sure enough, in most areas, property values have fully recovered and in a lot of cases actually exceeded those numbers. So the quote holds up. What feels more significant now is this was before the modernization of the internet and the advent of technologies being used today for real estate transactions. There are a lot of factors that go into a statement like that. California, in particular Southern California, has a great allure to many around the world, adding to an influx of people, ranging from those who grew up in California and want to start their families here, to others, wanting to move and make a life in California. All of them with housing needs. It’s hard to turn on the T.V. and not find a show romanticizing the lifestyle. The weather is fantastic and there are some wonderful neighborhoods to experience. The state’s economy by itself is constantly being touted as a top 7 in the world, being compared to other entire countries. That fuels the demand, now to address the supply. Limited housing has been an ongoing issue, especially in major metropolitan areas like Los Angeles, San Diego and the Bay Area. Builders and developers are having difficulty keeping up either due to rising costs of raw materials and labor, time, legal constrictions, or all the above. Established cities can’t easily build laterally so building up and density issues cause further delays. This combination has made for a very competitive and dynamic California real estate industry. The San Gabriel Valley, where a lot of us work, in particular, is a unique place where the issues just mentioned exist but are also coupled with a lot of foreign investors bringing monies from other countries to join the fray of buying and selling California real estate. So why is this important? Well for one, it brings additional complexity to a transaction compared to other areas that are used to dealing with parties and their resources being more localized. A lot of real estate agents, lenders, title and escrow officers are getting a competitive edge in the marketplace by building skills others 8

are not used to in these types of dealings and then cultivating specifically for those types of transactions. Secondly, it means that the overall health of the U.S. and California economy is not as determinant as the economies of other countries where the investors and their monies are coming from for transactions to be completed. This is an important aspect to be aware of because that can bolster the industry when local economies are not performing well, such as what we saw at the beginning of the decade. Mortgage rates have an important role as well. The overall economic health of the U.S. and California is currently strong. Most GDP indicators and employment numbers are up and improving, suggesting the trend will continue for at least the short term. Both large and developing countries are continuing to invest monies in businesses and property here in the U.S. and specifically Southern California. However, California, as demanded as it is, is not immune to tapering. Jerome Powell, the Fed Reserve Chairman has indicated three rate hikes in 2018 and possibly a fourth. Now while the Federal Funds Rate directly moves the Prime rate, they do have a spill over effect on residential mortgage rates. When economies perform well this will cause rates to rise in order to combat inflation. In the last 6 months there has been a steady climb in rates covering almost a full percentage point from then to now. This will impact local buyers by decreasing their purchasing power and hampering overall demand. Sellers can expect buyers with less ability to reach for higher price points and may need to allow more time and possibly give some concessions to close a transaction. Overall Southern California is a complex marketplace and highly sought after by a range of people with varied backgrounds and origins. It is demographically diverse with a myriad of micro climates, areas that have their own economies. Some are directly affected by changes in neighboring areas, others not so much. Understanding those nuances leads to more successful transactions for all parties. With property information instantly accessible with a few keystrokes and clicks of a mouse, where we live is not as isolated from the rest of the world as times before. The impact globalization has had on California real estate can’t be understated and this means there is a greater importance to align oneself with individuals and companies that stay abreast with changes and trends so they clearly understand what options are best for their clients. Globalization will continue to be a vital part of California’s future growth and prosperity. For more information, please contact Anthony Carusa at (626) 254-3497 or at


5 Cities With Amenities That Draw Buyers By: Krystal Miller, Realtor® Magazine

After an unusually slow spring and summer, which saw home sales dip when they typically spike, you may be wondering how to get more buyers interested in your market. Stubbornly low inventory doesn’t help and has kept many wouldbe buyers on the sidelines. But when you don’t have enough homes on the market to show clients, it’s time to start selling other attributes of your city to keep potential buyers interested. Think about all the amenities—parks, restaurants, and cultural institutions, for example—that make your neighborhood a desirable place to live. Use these items as talking points to seduce buyers not just with an individual property but with the lifestyle your area affords. We looked at five major housing markets where real estate professionals are going beyond local market data to entice their clients.


There are many things that make downtown Detroit a wonderful place to call home. Several parks, an internationally acclaimed riverwalk, major sports venues, and a wide variety of restaurants have helped draw people into Motor City—and keep them there. “Billions of dollars are being pumped into downtown, attracting diverse clients, and it’s raining opportunity,” says Moe Bzeih, a sales associate with Century 21 Curran & Christie in the Detroit suburb of Dearborn. Condominiums are in high demand right now in the downtown area, according to Bzeih. In fact, “Condos are selling in 10 days or less at $300,000-plus,” he says. “Downtown, downtown, downtown—stay there, invest there, live there.”

San Antonio

The city had the largest population gain nationwide between 2016 and 2017, putting it at the top of the list of fastestgrowing cities in the U.S. San Antonio adds 60 people a day, on average, according to the U.S. Census Bureau. As a result, its housing market is booming. There are many reasons why a potential buyer would want to buy a home there, says Daniela 9

Andreevska, content marketing director at real estate data analytics company Mashvisor. “San Antonio offers a very diverse, friendly, and young population,” she says. “One of the top reasons to buy a home or an investment property to rent out in San Antonio is the steady job growth, as well as the stable economy.” As far as the future of real estate in Alamo City goes, Andreevska says it will remain affordable. “Median home prices are likely to continue being relatively low in San Antonio for the rest of the year and even beyond, much below the level in many other hot real estate markets across the U.S. Moreover, single-family homes will continue dominating the housing market.”


The Philadelphia market is hot right now, and it doesn’t appear to be cooling down anytime soon. According to Trulia, the median sales price in The City of Brotherly Love as of July 25 was $193,000. “Condominiums and townhomes are in high demand citywide,” says Michael Kelczewski of Brandywine Fine Properties Sotheby’s International Realty in nearby Wilmington, Del. “Single-family properties sell well throughout suburban locations,” he adds. When it comes to area hot spots, Kelczewski points out that the “suburbs to the east, heading toward the Main Line— Haverford, Narberth, and Drexel Hill—all remain popular. Strong employment levels and growing earnings should continue to support a strong housing market.”

Jacksonville, Fla.

With more than 500 neighborhoods, Jacksonville is the most populous city in Florida. “Real estate prices are relatively low, with a median home price of $300,600, which is below the level of other hot housing markets,” Andreevska says. Having lived in Jacksonville and South Florida, homeowner Kate Genematas agrees. “You definitely get a lot for your money in Jacksonville,” she says. “Waterfront is always a little pricier, of course, but I feel like you get a lot more for your money


compared to other cities in South Florida.” With less than 1 percent of homes on the water, Jacksonville has the highest premium of waterfront living in the U.S., at 72 percent, according to a recent Zillow study. It doesn’t appear to be fazing the city, though. “The Jacksonville real estate market is expected to continue growing and to become even hotter in the coming years,” Andreevska says.

San Diego

“Out of the major cities in California to choose from, San Diego is where you’ll get the biggest bang for your buck, real estatewise,” says California-based real estate investing expert Nick Vertucci. Other real estate professionals agree. “San Diego is a great place to buy a home because the city is amazing,” says the husband-andwife team of John and Melissa Steele, who run Steele San Diego Homes. “We like to say that it has all the benefits of a big city without many downsides.” The median home price in San Diego County has risen 8.6 percent since April 2017, according to CoreLogic. “Four-bedroom homes are the hottest commodity,” says Vertucci. “The average sale price for single-family homes in San Diego is $595,000, which could land you a nice three-bedroom, three-bathroom house out in Linda Vista.” If you’re unfamiliar, Linda Vista is a residential community in San Diego located east of Mission Bay. “The San Diego market is still very hot, and homes of all types are flying off the market,” Steele says. “If a property is wellpriced, it’s not uncommon for it to be off the market within a matter of a week or two, regardless of the type of home.” He points out that the market will continue to be active through the rest of the year but predicts a slowdown at some point. “It is typical to see a little bit of a slowdown around the holidays, specifically between Thanksgiving and New Year’s, as many buyers and sellers choose to avoid the process of moving during this time,” says Steele.


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New Zealand Bans Foreigners From Buying Homes Source: REALTOR® Magazine Lawmakers in New Zealand are hoping to combat soaring home prices and rising homelessness by banning nonresident foreigners from purchasing residential property in the country. “This is a significant milestone and demonstrates this government’s commitment to making the dream of homeownership a reality for more New Zealanders,” Associate Finance Minister David Parker told Reuters. New Zealand officials have blamed an influx of foreign buyers in recent years for overheating the country’s real estate market. Home prices in Auckland, New Zealand’s largest city, have nearly doubled in the past decade; prices elsewhere in the country have risen more than 60 percent. But government regulations on foreign buyers, such as tighter lending restrictions, helped to bring the country’s median home price down 1.8 percent month over month to 550,000 New Zealand dollars (360,140 U.S. dollars) in July. Still, that’s about 6.2 percent higher than a year ago.

The International Monetary Fund has urged New Zealand to reconsider the ban on foreign buyers, saying such investment is critical for the homebuilding industry and to address the country’s housing shortage. “Foreign buying tends to be focused on new development, making it clear that foreign investment leads to the creation of new dwellings,” says Dave Platter, spokesman for, a Chinese real estate portal. “That’s vital in a market with a housing shortage like Auckland.” The majority of foreign buyers in New Zealand are from China and Australia, according to Statistics New Zealand. The government says the ban does not apply to Australians.

Latin America Agrees to Standardize Ethics Rules Source: REALTOR® Magazine

The National Association of REALTORS® is helping to foster ethical practices on a global scale, signing an accord last week with a coalition of Central and South American nations to reaffirm a commitment to the Code of Ethics in the region. The move came during the III Latin American Real Estate Congress, a meeting of the Confederación Inmobiliaria Latinoamericana (CILA) and the Costa Rica Chamber of Real Estate Brokers, in San Jose, Costa Rica, last Thursday and Friday. Costa Rican President Carlos Alvarado Quesada attended the conference and acknowledged that a real estate market founded on a strict Code of Ethics will allow the economy to grow and become a hub for foreign investment. “You are not required to learn the trends that are impacting your industry,” Joseph Schneider, NAR’s director of global

alliances, said at the conference, thanking attendees for taking extra steps to protect the industry’s reputation. “You are not required to grow as a professional. Yet you all are here. By attending this conference, you are taking the steps necessary to raise your own level of professionalism and, in turn, force your competitors to raise theirs as well." The accord CILA signed with NAR lays out a number of measures CILA will take to protect and promote the Code in Central America, including: - Encourage a nondiscriminatory environment in the real estate industry— one that respects different cultures and "economic ideologies." - Establish adherence to the Code as a requirement for CILA membership, promoting this value to Central American consumers.

- Coordinate conferences, seminars, and forums on real estate ethics, which will aid and encourage ethics training among practitioners. - Prepare a manual of ethical guidelines that other Latin American organizations can use as a blueprint. - Create a tool to evaluate and certify ethical conduct in real estate. "For a real estate market to grow, it is essential for its leaders to acknowledge the faults within the system and strive to work towards improvement," Schneider said. "This is a process that we are currently in the middle of in the U.S., as we are redeveloping the REALTOR® brand with the goal to keep the REALTOR® at the center of the transaction for years to come."



Welcome, New Members!

JULY 2018 Afache, Naji M, Highland Real Estate; Balladarez, Shannon M, Keller Williams Realty; Chan, Delia K, Long Dragon Realty Group, Inc.; Chen, Yixin, Coldwell Banker George Realty; Cheng, Shue M, Keller Williams Executive; Chow, Christine L, Paul Shih Realty; Contreras, Enrique, CURB-Broker; Cowan, Trisha, Berkshire Hathaway HomeService; Daulton, Gregory L, Lotus Property Services, Inc.; Du, Jenny, Treeline Realty & Investment; Galaviz, Carlos, HomeSmart, Evergreen Realty; Galdamez, Julio C, Transglobal Realty; Garzona, Jane, Keller Williams Realty; Godazandeh, Roghayeh, Realhomes Service & Solutions; Ha, Fiona, IRN Realty;

Hoang, Vivi F, Whole America United R.E. Group; Keffer, Cecilia R, Provenio Realty and Investment; Keung, Evelyn, Coldwell Banker George Realty; Lam, Amy Y, RE/MAX MASTERS; Lee, Woong Unni H, August Pine Real Estate; Li, Dorothy, Lori Mc Peng, BROKER; Li, Na, Long Dragon Realty Group, Inc.; Li, Xian, Great Wall Realty; Li, Yue Cassie, Transglobal Realty; Lin, Jerry, Coldwell Banker New Century; Lin, Michelle, Mega-Lux Realty, Inc.; McGuigan, Edwin D, Coldwell Banker Arcadia; Ngao, Janice, Long Dragon Realty Group, Inc.; Ngo, Phuong, Supreme Investment Corp.; Nguyen, Joan, Keller Williams Realty;

Ong, Victoria K, Coldwell Banker George RH; Powley, Phyllis L, Art Del Rey Realty, Inc.; Rodriguez, Jonathan, Berkshire Hathaway HomeService; Sand, Brad A, Brad Sand, Broker; Smith, Alton C, Moon Realty; Sui, Qin, Long Dragon Realty Group, Inc.; Sun, Da, United Real Estate Los Angeles; Sun, Yijia, Highland Real Estate; Wang, Tongtong, Dilbeck Real Estate; Wang, Yan, HomeSmart Evergreen Realty; Wong, Lonnie H, Long Dragon Realty Group, Inc.; Zhang, Ying, Coldwell Banker George Realty; Zhou, Anna J, Re/Max 888;

Also shown: Margaret Garemore, 2018 AAR President; Shirley Chen, 2018 Membership Committee Chair and Matilde Gonzalez, 2018 Membership Committee Vice-Chair

AUGUST 2018 Chan, Suzanna S, Treeline Realty & Investment; Chang, Nina D, Highland Real Estate; Chen, Hans, Treeline Realty & Investment; Cheng, Weiqiao, Coldwell Banker Dynasty T.C.; Deleeuw, Tyler, HomeSmart , Evergreen Realty; Eugenio, Erika J, Premier Properties Realty Prof; Gao, Feng Sarah, Han Realty; Harrison, Theresa C, KW Executive; Hou, Ryan S, KW Executive; Hunt, Milton Evans, Coldwell Banker Dynasty Arc; Hunt, Richard B, Re/Max Titanium; Klahejian, Kevork, Keller Williams Realty; Koo, Rae F, E 2000 Realty;

Kuo, Evelyn, KW Executive; LaCome, Myron D, Tigen Financial Inc.; Lee, Edward, Tigen Financial Inc.; Li, Zhi, Long Dragon Realty Group, Inc.; Liu, Shujie, Highland Real Estate; Marachelian, Christopher H, VasTree Real Estate; Navarro, Ismael A, Keller Williams Realty; Oyama, Anna L, Berkshire Hathaway Homeservice; Paterik, Michelle L, Pinnacle Real Estate Investment; Quach, Wendy, Recap Properties; Shalabi, Amer W, Century 21 Masters; Simpson, Joanna L, eXp Realty of CA Inc; Sun, Philip, Coldwell Banker George Realty;

Also shown: Margaret Garemore, 2018 AAR President and Matilde Gonzalez, 2018 Membership Committee Vice-Chair



Sung, Siuhuei, Coldwell Banker George Realty; Tran, Bill M, Recap Properties; Trinidad, Susan E, Keller Williams Realty; Ung, Men, Grandmark Realty Inc.; Vega, Rebecca L, Dilbeck Real Estate; Vong, Carol M, McIntire Real Estate Inc.; Yu, Jiahui, Treeline Realty & Investment; Zhang, Shisong, Transglobal Realty; Zhang, Weihua, Centermac International; Zhang, Yang, IRN Realty; Zhuo, Qiongxia, Highland Real Estate;

More Commercial Agents Land International Business Source: National Association of REALTORS®

Nearly one-fifth of REALTORS® in the commercial space say they closed a sale with an international client in 2017, and 35 percent say they have seen an uptick in the number of foreign clients in the past five years, according to the National Association of REALTORS®’ 2018 Commercial Real Estate International Business Trends report. Buyers from China and Mexico are generating the most demand, the report states. “The profile of smaller commercial markets is continuing to rise as many foreign investors are attracted to smaller-sized properties in secondary and tertiary markets, bringing REALTORS® confidence that increased sales and leasing activity will continue to occur in 2018,” says Lawrence Yun, NAR’s chief economist. “Since 2016, world economies have regained their footing and have pressed toward higher ground. Global economic output increased in 2017, and commercial real estate continue to be a healthy investment for global investors.” A majority of buyers purchased commercial space for rental property (39%) or business investment purposes (34%), according to the report. The top countries of origin for foreign buyers are China (20%), Mexico (11%), Canada (8%), and the United Kingdom (6%). The two states where foreigners purchased and sold the most commercial property last year were in Florida and Texas, according to the report. California followed as the third most popular buyer and seller destination. The majority of foreign commercial buyer and seller transactions tend to be at the higher end of the market, the report notes. In 2017, the median international buyer-side transaction was $975,000, while a median seller-side transaction was $1 million. Foreign buyers of commercial real estate tend to complete more cash transactions than those purchasing residential real estate. Seventy percent of international transactions were closed with cash, according to the report. “REALTORS®’ international clients found U.S. commercial real estate markets to be a good value in 2017,” Yun says. “About seven in 10 respondents reported that international clients view U.S. prices to be about the same or less expensive than prices in their home country.”



Global Real Estate Committee By Patrick Law, Committee Chairman

A recent highlight from the 2018 Global Profile of International transactions in U.S. Residential Real Estate by the Global Councils of National Association of REALTORS® showed that foreign buyers purchased $121 billion of U.S. residential property from April 2017 to March 2018. It represents a 21% decrease from $153 billion during the previous 12-month period. China remained as the top country of origin for foreign buyers followed by Canada, the United Kingdom, India and Mexico. Whereas Florida, Texas, California, New Jersey and Arizona accounted for more than 50% of the total residential property purchased by International buyers. At the Arcadia Association of REALTORS®, our Global Committee continues to offer programs to provide global education and networking opportunities through our mixers, courses and presentations to all our members. At the beginning of the year, the committee offered a Chinese New Year Mixer featuring "Residential and Commercial Real Estate Feng Shui" by Alex Zi, a famous Feng Shui Master.

In March, we offered a 5-day CIPS designation course to all AAR members and members of other associations. By successfully offering a CIPS Institute, we not only provided an affordable way to obtain the CIPS designation, but also we equipped our designees with the knowledge, research, network and tools to globalize and expand their business. In March, we also offered an “International Open House” to introduce different cultures, real estate trends and offered authentic food and drinks from 5 countries. In May, we offered a Global Forum – EB-5, Tax Law, and Legal Updates. In June, we also offered an “International Educational Adventure” expanding on lead generation on a global level. Due to overwhelming demand, we offered “Practical Feng Shui – Part 2” in July. All these events, which drew great interest, were offered FREE to our members and were well attended. For the remaining of the year, the committee will continue to offer “What’s is Really Happening with US-China Trade” in September. Also, a Cabo San Lucas Trade Mission is on the way. Additionally, we will bring back the 2nd round of “International Open House” featuring another 5-6 countries, etc. You are welcome to provide any feedback and suggestions at any time. If you or anyone you know is interested in joining the Global Committee at the AAR, please feel free to contact Patrick Law at or contact Natasha Poon at Our committee is looking forward to meeting you! 14


06.2018 06.2018

Certified International Property Specialist


Certified International Property Specialist



What is your Role What is your Role in Attracting in Attracting Global Investment? Global Investment? Economic development doesn’t just happen. It must be planned and Economic just cultivated.development Cities, states,doesn’t and nations happen. It must be planned and all vie to attract new companies. If cultivated. states, they come,Cities, real estate willand be nations one all vie to attract new companies. If of their top priorities. they come, real estate will be one of their You cantop playpriorities. an important role as a

leader in your community by working You play andevelopment important role as a withcan economic officers leader your community to bringinglobal investmentby to working your area with economic development officers and helping to fulfill these companies’ to global investment to your area realbring estate needs. These needs may and helping to fulfill these companies’ encompass commercial development, real estate needs. These needs may encompass commercial development,

but also have a positive impact on the residential side of the equation. After all, but also have a positivearrive, impact when new businesses soon dothe jobs. residential side of the equation. After all, Workers need places to live, and places when new businesses arrive,and so do jobs. to shop. Hence, commercial Workers need places to live, and places residential real estate are inextricably to shop. commercial and linked toHence, one another. residential real estate are inextricably linked one another. When to a company is headquartered in another country—and may be transferring When a company is headquartered some of its workers—it becomes in another country—and may be to transferring especially important for them identify some of its workers—it becomes real estate professionals who understand especially important for them to identify its unique circumstances and can provide real estate professionals who understand its unique circumstances and can provide

a “bridge” into the new market. That’s right, it needs a CIPS designee. a “bridge” into the new market. That’s right, needs CIPS designee. Thereitare manya different ways to get involved. This issue of Global Perspectives There areseveral many possibilities, different ways to get looks at including involved. Thisinissue Global Perspectives participation tradeofmissions and looks at several possibilities, including international trade shows. Inside, you’ll find participation in trade missions and tips on identifying the best options and international tradeyour shows. Inside, you’ll find ways to maximize results. tips on identifying the best options and ways to maximize your results.




Many Ways to Get Involved Chances are, as a CIPS designee, you’ve probably already considered traveling to another country to participate in a conference, trade mission, or some other business-building endeavor. It’s tempting to view these opportunities with one question in mind: Will I get a transaction from this? That’s understandable. However, building your reputation as a global real estate professional is uniquely challenging, hinging more on cultivating relationships and establishing your identity to a particular market. In that sense, global agents are first and foremost ambassadors for their market. Contribute to growing your market’s international presence, and the transactions will follow, regardless of whether you specialize in commercial or residential real estate. How do you do that? Plenty of organizations offer planned opportunities, but finding them may require research. If your local real estate association is sponsoring an event, you probably already know about that. But don’t stop there.

OUTBOUND Trade Missions U.S.-based CIPS designees may be able to visit other countries via trade missions hosted by their local or state REALTOR® association or outside entities. The scope and objectives of each trip can vary dramatically. Upcoming examples include: Manila, Philippines – sponsored by the Silicon Valley Association of REALTORS® and Filipino American Real Estate Professional Association. (June 2018)

Honduras and Mexico – property tours will be conducted in three ports of call when the Texas Association of REALTORS® holds its seventh annual educational cruise, which also includes an optional CE course. (August 2018)

INBOUND Trade Missions Just as outbound trade missions are organized in various ways, the same is true in reverse — when hosting visitors from other countries. The trips are designed to strengthen ties between the two markets. If your association is on the receiving end, hosting a group, it’s an excellent way to build your global real estate connections without hopping on a plane. Here are some examples: Miami Association of REALTORS® - hosts the Miami International Real Estate Congress, which attracts numerous delegates from around the world. Manitoba Real Estate Association researched their top trading partners in the U.S., then invited leading real estate representatives from these markets to visit Winnipeg and learn more about opportunities in the province. The inbound mission also included the first CIPS Institute held at their association. Delegates were joined by REALTORS® from other Canadian provinces and from the U.S. “Our message was: Manitoba is open for business,” explains David Salvatore, CEO of the Manitoba Real Estate Association. “It was an excellent way to showcase projects, build partnerships, and strengthen our trading relationships.”

Global Perspectives 06.2018 · SEPTEMBER/OCTOBER 2018 16 2 ~ARCADIA REALTOR®

Things to Remember Whether inbound or outbound, trade mission agendas are often dominated by networking opportunities and tours of the market—interesting and important landmarks, and possibly tours of notable properties. Luncheons, dinners, and receptions offer ample time for networking. Education may also play a role, in terms of presentations by informative speakers, or official training sessions (e.g., CIPS coursework). Keep in mind that some associations have Global Business Councils, who organize both outbound and inbound real estate focused trade missions to help you and your business. Any association can sponsor an outbound or inbound trade mission. Trips can be limited to members of the sponsoring organization, but not always. Every trade mission is designed around a unique set of objectives. To view an upcoming list of trade missions visit

More Options Trade missions aren’t limited to REALTOR® organizations or Cooperating Associations based around the world. Additional opportunities to explore: The Asian Real Estate Association of America (AREAA) periodically hosts trade missions, such as a recent trip where 100 delegates from China visited Houston, Seattle and Vancouver. ( The U.S. Commercial Service (within the Department of Commerce) hosts several missions a year, each focused on a specific market and trade segment. Upcoming missions are listed at

Planning District Growth Alliance Development Association

Trade Economic Council Chamber of Commerce

Economic Development

World Trade Center Commission Organization

Regional Authority Partnership Coalition Developers

Economic development groups also make frequent use of trade missions. These organizations play a vital role in encouraging trade opportunities between markets across the globe, making them one of your most important partners for strengthening your ties to international investment. Be aware that these trade missions may or may not be specifically tied to real estate. However, it is important to keep in mind that you can still set up your own real estate meetings.

Finding Your Economic Development Partner(s) Who is working to attract investors to your market? Start your research online. Be creative about the search terms you use, because economic development groups go by many different names (see word cloud) and operate at many different levels (city, state/province, region, and/or country). In the U.S., the Economic Development Administration (EDA) offers a directory of state and regional offices, economic development districts, university resources, and more at It’s a good place to start, but only includes EDAaffiliated groups (no private organizations or public-private partnerships). To get a better understanding of the complete picture, you’ll need to dig further. There’s no simple recipe to follow, since every market handles economic development differently. For example, the U.S. state of Missouri funds a Department of Economic 1

Certified International Property Specialist

Tourism Bureau Development Council

Development that includes the Missouri International Trade & Investment Office ( Its efforts are supported by the Hawthorn Foundation (, which gave birth to the Missouri Partnership (, a public-private organization that leads the state in business recruitment, both within and outside the U.S.1 In addition to these organizations, a Missouri real estate professional can connect to global opportunities and business-building resources through local REALTOR® associations, economic development offices in St. Louis and Kansas City, and other organizations working to attract international business. The economic development profile for other states—or other cities, provinces, regions and countries—will look different. It takes research to reveal the key participants, both public and private. In all likelihood, however, you’ll discover hidden gems.

Found One. Now What? Once you’ve identified an economic development organization’s website, what should you look for? Before doing anything, check to see if your association is already connected. As noted earlier, many associations have Global Business Councils that have done the legwork for you. Find out if your local or state association has one by visiting Otherwise, here are some tips to get you started:

International companies: Who is already operating in your market, from which countries? (a potential source of relocation business) International offices: Where are their global representatives located? (Are there overlaps with the markets you’re targeting for developing your global practice?) Events: Are they planning inbound or outbound trade missions, global networking forums, conferences, etc.? Resources: Search for fact sheets, maps, tools, publications, research, etc. that would be helpful in working with clients or attracting new business. Contacts: Consider making personal inquiries to explore additional topics and resources that may not appear on the organization’s website.

A Two-Way Street Economic development organizations want to help all their constituents develop new business opportunities. You’ll find your best success, however, if you aim for collaborative relationships. Learn where their resources are limited and see if you can help fill gaps with your own local market knowledge, networking contacts, committee participation, etc. It’s the fastest way to build win-win relationships and be a top-of-mind resource when the agency receives inquiries about real estate assistance.

The Missouri Partnership has a close relationship with Missouri REALTORS®, which includes co-sponsoring a booth at the MIPIM conference.

GlobalREALTOR® Perspectives ~ 3 17 SEPTEMBER/OCTOBER 2018 ·06.2018 ARCADIA

Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006

AAR Members & their Clients are invited to participate in the AAR...



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Friday, October 19, 2018 | 8:30am - 12:00pm Arcadia Association of REALTORS® Parking Lot 601 S. First Ave. Arcadia, CA 91006

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Arcadia REALTOR Magazine - September/October 2018  

The September/October 2018 publication of the Arcadia REALTOR.

Arcadia REALTOR Magazine - September/October 2018  

The September/October 2018 publication of the Arcadia REALTOR.