Arcadia REALTOR Magazine – January-March 2019

REALTOR®

OFFICIAL PUBLICATION OF THE ARCADIA ASSOCIATION OF REALTORS®

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

2019 Annual Awards & Installation

1

ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

JANUARY-MARCH 2018 · ARCADIA REALTOR®

Cooper’s Comments

REALTOR® 2019 ASSOCIATION OFFICERS Kelvin Chang 2019 PRESIDENT Jim Maceo PRESIDENT-ELECT Julie Bencosme TREASURER Margaret Garemore IMMEDIATE PAST PRESIDENT BOARD OF DIRECTORS Ryan Asao Renee Bannoura David Chen Matilde Gonzales Patrick Law May Rahmanian Mike Vachani

C.A.R. DIRECTORS Ryan Asao Andy Bencosme Julie Bencosme Kelvin Chang Margaret Garemore Matilde Gonzales Cecil Griffin Mike Vachani Kelvin Wong

ASSOCIATION STAFF Amy Larsen Ext. 307 Director of Finance / Office Manager Amy@TheAAR.com Stephanie Maertens Ext. 303 Director of Education & Commercial Real Estate Stephanie@TheAAR.com Natasha Poon Ext. 301 Membership Services Manager Natasha@TheAAR.com Laura Thai Ext. 304 Director of Broker Compliance & Member Outreach Laura@TheAAR.com Andrew Cooper Ext. 308 Chief Executive Officer Andrew@TheAAR.com

Dear valued Arcadia Association of REALTORs® members and Affiliate Business Partners, It’s unbelievable to me that we’re already in the last month of the first quarter of 2019. Your AAR 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.

2018 was certainly a year to remember with many national and international events and the natural disasters here in CA making the headlines. Not to be outdone last year, the housing sector was also a challenge with inventory, affordability and tax reform 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 in our economy, in our national and local government offices and the real estate market, 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 take this journey together, and by working together, we will enjoy the mutual benefits of AAR membership for many years to come.

On behalf of the entire staff team members and Board of Directors at the Arcadia Association of REALTORS®, we wish you the best of success for a top-producing and healthy remainder of the 2019.

Yours in success,

Andrew Cooper

Chief Executive Officer

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® · JANUARY-MARCH 2019

JANUARY-MARCH 2019 | VOLUME 23 | NUMBER 1

Contents 9

13

Regular Features 2

5

Through the Lens

6

Attorney Comments

8

Affiliate Corner

16 2019 Annual Awards & Installation A recap of the 95th Annual Inaugural Celebration held on Friday, January 11th at the San Gabriel Sheraton.

Additional Content 9

Andrew Cooper, Chief Executive Officer

Market Matters

On the Cover

Cooper’s Comments

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January 2019 Existing-Home Sales NAR released a summary of existing-home sales data showing that housing market activity this January.

12 AAR New REALTOR® Members The AAR welcomes its newest REALTOR® Members of 2018 and 2019.

13 6 Rules for Selling Tenant-Occupied Homes Tenants know that when a For Sale sign pops up on the property they’re renting, they need to prepare for disruption to their lives.

Market Statistics for the San Gabriel Valley

A Look at What’s Happening Around the AAR

14 Your 2019 AAR Officers & Directors Please welcome your 2019 Officers and Directors of the Arcadia Association of REALTORS®.

15 Farewell & Welcome A heartfelt farewell from our 2018 President, Margaret Garemore and a warm welcome from our 2019 President, Kelvin Chang.

Dave Freeman, AAR Legal Counsel

“Myths & Realities of a Reverse Mortgage Loan” Maureen McCune, Loan Consultant, The Mortgage Group JANUARY-MARCH 2019 · ARCADIA REALTOR®

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

City

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

Condominiums

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

13 9 12 5 8 7 21 14 8 5 8 6 13

$1,275 $1,380 $493 $491 $432 $575 $597 $772 $870 $690 $2,289 $1,384 $1,108

16.8% -7.9% -3.8% 1.2% -13.7% 9.4% -3.2% 8.0% 8.7% 17.3% 26.7% 63.2% 47.7%

SFR Only

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

5 10 8 2 8 1 0 5 2 7 0 2 5

$768 $647 $465 $485 $518 $399 n/a $689 $1,030 $400 n/a $623 $810

-8.0% 8.5% 6.7% 22.5% 1.5% -20.8% n/a 34.7% n/a -22.6% n/a -9.4% -4.9%

$637 $544 $438 $381 $359 $331 $415 $508 $458 $436 $808 $546 $551

Market Statistics for the San Gabriel Valley - January 2019 Single Family Homes

City

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

Condominiums

Sales of Price Price % Single Family Median SFR Chg from Homes ($1,000) Jan. 2018

19 13 6 4 4 6 16 14 5 5 4 6 17

$1,050 $1,283 $639 $550 $500 $539 $644 $804 $908 $694 $1,735 $914 $785

ARCADIA REALTORŽ ¡ JANUARY-MARCH 2019

-4.5% -23.4% 42.7% 19.6% 2.1% -0.1% 3.9% 23.2% 4.4% -11.6% -26.2% 31.4% 1.9%

Sales Count Condos

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

Price Median Condo ($1,000)

$805 $660 $380 $423 $430 $485 $490 $525 n/a $530 n/a $677 $688

SFR Only

Price & Median Chg from Home Price/ Jan. 2018 Sq. Ft.

34.4% 2.2% -26.9% 18.5% -2.9% n/a -12.5% -6.1% n/a 53.6% n/a 15.2% -8.1%

$542 $654 $396 $451 $408 $413 $418 $473 $457 $443 $869 $600 $534

Source: CoreLogic.com

THROUGH THE LENS

A Look at What’s Happening Around the AAR

2019 Annual Awards & Installation of Officers & Directors

JANUARY-MARCH 2019 · ARCADIA REALTOR®

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Attorney Comments

By Dave Freeman, Association Counsel

Department of Real Estate Audits of Brokers The primary areas where audits come up are: Property Management: Complaints to the DRE usually cause the audit (which can be very expensive and time consuming on the part of the Broker), but red flags or routine activity can lead to the audit. a. Operating without a broker’s license is a violation. b. Meticulous records must be kept, including written contracts and communication with the owner/client, and with the tenants. c. Complaints from clients and tenants must be handled promptly and with proper training. Records should be kept of this as well. d. The broker must supervise any employees or licensees and review communication and records, as well as proper handling of the issues that arise. e. Bottom line, this is a hazardous and energy draining area of real estate.

Broker-Owned Escrow (BOE): The biggest problem here is the lack of understanding of what is required and what is allowed. a. The most important, and often misunderstood issue is that the BOE’s are exempt from the arduous licensing and annual audits required of an independent escrow, but they are only allowed to perform escrow transactions in which the broker or his agent is an agent or participant in the transaction. b. The Broker must, annually file a report with the DRE, detailing the escrow activity participated in during the year, if the BOE handles more than five escrows or escrows involving more than a total of one million dollars during that year. The penalties for failure to report add up quickly and can be large.

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ARCADIA REALTOR® · JANUARY-MARCH 2019

Foreign Language Contracts/Leases If a contract or lease is negotiated primarily in a foreign language, the document resulting from the discussion must be in that foreign language. Several documents are available from the DRE in five different common languages found in Southern California. But the obvious misunderstandings and disagreements that can arise are obvious, leading to an attorney’s fair employment act. Therefore, it is normally best to have the party who only deals in the foreign language to have their own interpreter present, and keep the communication between the agent and the other parties in English, and the contract/lease in English as well.

Rent Control Proposition 10 failed to pass. Proposition 10 would not have automatically imposed rent control, but would have repealed Costa Hawkins, a law that limited cities and counties from imposing certain tough rent control rules such as: A. Vacancy Decontrol: In a rent control city, this prevents a landlord from raising the rent to the current going rate, even when the tenant moves out voluntarily.

B. Moving the date, for example to 1995, that a building must be constructed after, to be exempt from rent control.

The date in Los Angeles is currently 1978.

Cities and counties can still impose rent control rules under the current law. Glendale, Pasadena and Long Beach are currently considering it. The Board of Supervisors of Los Angeles County just voted to impose a 3% limit on rent increases for the County. As the city of Los Angeles is already under rent control, the new decision affects all of the County that is not an incorporated city (Including the township of Altadena).

Be sure to educate your clients, who may be buying in current and POTENTIAL rent control locations of the limitations on future income, that is and will be imposed.

Title Insurance

Mediation

It is crucial that the salesperson review the preliminary title insurance with the buyer at the earliest time possible, and most importantly - before the contingency period for this review expires. This is particularly true when the buyer is planning on developing the property - the zoning may no longer allow the plan the buyer has in mind, even though it once was allowed.

The requirement to mediate real estate purchase and sale disputes is in the CAR contract and most other agreements relating to real estate. There is no need to initial a paragraph (like arbitration); it is automatic and mandatory. If one of the parties to the dispute refuses to mediate, that party will not be entitled to an award of attorneys’ fees, even if that party wins the lawsuit or arbitration.

Sometimes, a house that has long been used for a business can no longer be used as a business, where it has not been operated actively for a period of time, for example, ninety days, while renovations were performed, or during the sale.

This can happen where the property received a Conditional Use Permit for a business, though the area was zoned Residential.

A very important point:

Other unforeseen problems: - Reduced size of building allowable on the property.

- Historical designations, or unknown historical artifacts (Green and Green) which cannot be removed or moved.

- The individual lots have reverted to “Acreage,” since they were not built upon in a timely manner – meaning the individual lots no longer exist; the property is now just one large parcel.

MEDIATE EARLY, AND SERIOUSLY! Attorneys’ fees mount up quickly and in large amounts, thereby making it much more difficult to settle without going to trial, a situation where only the attorneys win, generally.

A good mediator can sometimes work wonders, causing both sides to come away equally dissatisfied (the best one can usually hope for). The transaction can sometimes be saved. The parties will become much more aware of the position of the other side, and much more in tune with the serious nature of the battle they are wandering into.

DO IT EARLY!

Therefore sit down with the buyer, and have them review the preliminary title report and other relevant information early, including any information from the Building and Planning Department of the City, and if any questions arise, suggest they see the appropriate professional to advise them.

Bank Checks for Closing Escrow Buyers are usually unaware of the requirement for certain useable funds at close of escrow (for the balance of the down payment). For escrow to close timely, the funds must be immediately useable, or escrow must wait several days to close. Even cashier’s checks from many banks will not clear overnight. Most escrows, therefor, require the funds be wired from the buyer’s bank to the escrow’s bank.

If there are any questions regarding a buyer’s planned closing funds, check with the escrow officer, well ahead of the scheduled close, to avoid last minute delay or default.

JANUARY-MARCH 2019 · ARCADIA REALTOR®

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AFFILIATE Corner “Myths & Realities of a Reverse Mortgage Loan”

By Maureen McCune, Loan Consultant, The Mortgage Group As with many financial products, reverse mortgage loans can be complicated and there are a number of misconceptions about how the product works. Do you know the myths vs. the realities?

MYTH NO. 1 The lender owns the home.

Like all mortgage loans, the reverse mortgage loan is secured by a lien and you will not lose your home as long as you continue to meet the loan obligations. The loan obligations include: living in the home, maintaining the home according to the Federal Housing Administration requirements, paying property taxes and paying the homeowner's insurance.

MYTH NO. 2 Once loan proceeds are received, you pay taxes on them.

Like any loan, reverse mortgage proceeds are paid out tax-free as they are not considered income. However, it is recommended that you consult your financial advisor and appropriate government agencies for any effect on taxes .

MYTH NO. 3 The borrower is restricted on how to use the loan proceeds.

The proceeds from a reverse mortgage loan can be used for almost any purpose Many borrowers use it to supplement their retirement income, delay receiving social security benefits, pay off large expenses, pay for medical expenses, remodel their home, or help their adult children.

Prudence along with budgeting should be the proper approach to enjoying proceeds received from your reverse mortgage loan.

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ARCADIA REALTOR® · JANUARY-MARCH 2019

MYTH NO. 4 The home must be free and clear of any existing mortgages.

Actually, many borrowers use the reverse mortgage loan to pay off an existing mortgage and eliminate monthly mortgage payments. Paying off the existing mortgage and any other liens is required as part of the loan It is the borrower's responsibility to continue to pay for property taxes, homeowners’ insurance and home maintenance.

MYTH NO. 5 Only people with financial hardships need reverse mortgages.

The perception that reverse mortgage loans are only for "financially strapped" borrowers is changing - affluent senior borrowers with multimillion-dollar homes and healthy retirement assets are using reverse mortgage loans as part of their financial and estate planning and are working closely in conjunction with financial professionals and estate attorneys to enhance their overall quality and enjoyment of life.

January 2019 Existing-Home Sales

By Michael Hyman, Research Data Specialist, National Association of REALTORS NAR released a summary of existing-home sales data showing that housing market activity this January, fell for the third straight month and was down 1.2 percent from December 2018. Sales of existing homes dropped 8.5 percent from January 2018. January’s existing home sales reached a 4.94 million seasonally adjusted annual rate, the lowest since November 2015.

The national median existing-home price for all housing types was $247,500 in January, up 2.8 percent from a year ago. This marks the 83rd consecutive month of year-over-year gains. Despite the gains in prices, this January marks the slowest price growth since February 2012.

Regionally, all four regions showed growth in prices from a year ago. The West had largest gain of 2.9 percent followed by the South with a gain of 2.5 percent. The Midwest had an increase of 1.4 percent followed by the Northeast with a modest incline of 0.4 from January 2018.

January’s inventory figures are up from last month 3.9 percent to 1.59 million homes for sale. Compared with January of 2018, there was a 4.6 percent increase in inventory levels. It will take 3.9 months to move the current level of inventory at the current sales pace. It takes approximately 49 days for a home to go from listing to a contract in the current housing market, up from 42 days a year ago.

From December 2018, the Northeast was the only region to have an incline in sales of 2.9 percent. The West had the biggest decline of 2.9 percent followed by the Midwest with a dip of 2.5 percent. The South had the smallest decline of 1.0 percent.

All four regions showed declines in sales from a year ago.

The West had the biggest drop in sales of 13.8 percent.

The South had a decline of 8.4 percent followed by the Midwest with a drop of 7.9 percent. The Northeast had the smallest drop in sales of 1.4 percent. The South led all regions in percentage of national sales, accounting for 42.1 percent of the total, while the Northeast had the smallest share at 14.2 percent.

In January, single-family sales were down 1.8 percent and condominiums sales were down 3.6 percent compared to last month. Single-family home sales fell 8.4 percent and condominium sales were down 9.5 compared to a year ago. Single-family homes had an increase in price up 3.1 percent at $249,400 and condominiums modestly rose 0.1 percent at $233,000 from January 2018.

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ARCADIA REALTOR® · JANUARY/FEBRUARY 2015 JANUARY-MARCH 2019 · ARCADIA REALTOR®

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Welcome, New Members!

DECEMBER 2018

Aguilar, Annabele C., Century 21 Masters Walnut; Alcantar, Richard F., Deasy Penner Podley; Au, Terence C, Long Dragon Realty Group, Inc.; Chi, Matthew, KW Executive; Der, Matthew, eXp Realty of CA Inc; Elhardt, Brian A, Coldwell Banker Arcadia; Hong, Sungho, Keller Williams Realty; Hu, Hong Jun, Real Estates Unlimited; Huang, Tanyi, Starnberg Realty, Inc; Lai, Sandy Qizi, Long Dragon Realty Group, Inc.; Lazerus, Steven T, Lazerus Properties;

Liu, Xiulian, Champion Character Inc.; Ly, Benson, HomeSmart , Evergreen Realty; Macias, David, Deasy Penner Podley; Mejia, Katelyn M, CIBA Real Estate; Papatsos, Michael D, Keller Williams Realty; Sandoval, Pauline A, VasTree Real Estate; Shum, William Z, eXp Realty of CA Inc; Solis, Angel N, Dilbeck Real Estate; Wang, Wei Ting, CR Excellence Property Mngt; Yang, Feng, HouseUSA Realty & Mortgage; Zou, Ying, IRN Realty

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

FEBRUARY 2019

Arroyo, Jenifer L, Dilbeck Real Estate; Chu, Yao Rong J, Long Dragon Realty Group, Inc.; Constanzo, Kathi E, Coldwell Banker George Realty; Cragoe, Robin L, Coldwell Banker Arcadia; Gao, Feng, Coldwell Banker George Realty; Guan, Qing, KW Executive; Hu, Carol H, Coldwell Banker George Realty; Hutchins, Mina S, HomeSmart, Evergreen Realty; Kao, Rosy, Coldwell Banker Arcadia; Lee, Audrey, Grandmark Realty Inc.; Lee, Kenny, Coldwell Banker Arcadia; Leung, Jeffrey, Jeffrey Tze-Kit Leung, BROKER;

Lin, Jerry, Coldwell Banker George Realty; Ren, Teng, Re/Max Omega; Tang, Connie A, KW Executive; Tengan, Branden, Moon Realty; Webb, Nathan, eXp Realty of CA Inc; Wong, Alan, Supreme Investment Corp.; Wong, Calcy, Re/Max Omega; Wu, Zhiyong, IRN Realty; Xu, Yian, KW Executive; Zeng, Benjamin, Century 21 Dynasty; Zhang, Jianxin, IRN Realty; Zhang, Xi, Re/Max Omega

Also shown: Kelvin Chang, 2019 AAR President; Matilde Gonzalez, 2019 Membership Committee Chair and Cheryl Johnson, 2019 Membership Committee Vice-Chair 12

ARCADIA REALTOR® · JANUARY-MARCH 2019

6 Rules for Selling Tenant-Occupied Homes Source: Realtor Magazine Tenants know that when a For Sale sign pops up on the property they’re renting, they need to prepare for disruption to their lives. A new owner may impose additional leasing terms and rules, jack up the rent, or, most disruptive, make tenants move out. The potential emotional and physical upheaval that comes with selling tenant-occupied homes makes them much more difficult transactions than selling owner-occupied or even vacant properties. That’s not to say that every tenant-occupied home is going to be hard to sell. But tenants represent a wild card that can negatively affect the sale if they are uncooperative with you, such as refusing to make the home available for showings.

Property condition is another variable that tends to have a deeper effect on the sale of tenant-occupied homes. Though you may make efforts to get tenants to tidy up their spaces, you’ll likely be showing the home at times when the trash hasn’t been taken out, the beds haven’t been made, and dishes and food haven’t been removed from the sink. It can get even worse. I recently was forced to show a house in the dark because the tenant’s utilities had been disconnected.

Given these potential obstacles, how do agents successfully navigate the marketing, showing, and ultimate sale of a home that has tenants living there?

good idea about who the tenants are and whether they’re likely to be cooperative with you.

2. Show tenants compassion, as if they were your clients.

Meet and spend time with the tenants, and be transparent about your efforts to sell the house and the possible ramifications on them. Explain the process you will use to show the home, but demonstrate that you understand it could inconvenience the tenants and you’ll do what you can to mitigate disruption. Showing this kind of care and concern can help tenants trust you more easily, which will make the transaction smoother. Get tenants’ contact information, and find out their work schedules. Some tenants work at night and would probably not appreciate a 9 a.m. showing.

3. Give tenants reasonable notice when you need to access the property.

Never schedule surprise showings at a home with tenants. I try to give tenants at least 24 hours’ notice when scheduling showings. This sends the message that you respect their time and space. After all, it is still their home.

1. Learn what you can about the tenants from the homeowner.

4. Hire a cleaning service to keep tenants’ spaces show-ready.

Not only do you work with the owner on developing a marketing plan and showing schedule, he or she is your first source of information about the tenants.

You can avoid some headaches and missteps by getting a good overview of the situation from the owner. Ask what the tenants do for a living, whether they pay rent on time, if they frequently have visitors to the property, and how well they have maintained their spaces. The answers to these questions can give you a

If the tenants aren’t the cleanest and most organized, and the house is consistently unkempt, let them know that at your expense—and, hopefully, their convenience—someone will be coming in on a weekly or bi-weekly basis to clean and organize their space while the home is on the market. Talk them through any concerns they may have about entrusting their belongings to an outside service.

Most tenants likely will welcome this offer.

5. Remember to manage tenants’ emotions, too.

Though the owner is your client, you don’t want the tenants to get confused or frustrated with the transaction either.

They’ll want to know what’s going on as they watch people move in and out of the rental property, so keep them informed.

When you get a signed offer, let them know immediately. Give them some idea of the timeline of the sale so they can plan accordingly if they have to move.

Also, inform them immediately if you know that the owner plans to continue renting the house as is. You’ll eliminate a lot of stress on them.

6. Make yourself a resource for tenants.

“Ninja selling” teaches the importance of building relationships and providing value for your clients. It’s no different with tenants—in fact, they are potential clients. Get to know them and their plans for the future. How can you be a resource for them? Provide information and assistance that will make the transition smoother. Let them know they are not alone and that you are ready and willing to help.

You might also work with your client to see if any incentives can be offered to tenants to encourage them to help make the transaction stress-free. A colleague of mine recently told me of a seller client who reduced her tenants’ rents while the property was on the market. The homeowner, my colleague said, saw it as a way to show tenants she understood the inconvenience the transaction posed to them and that she appreciated their cooperation. Some homeowners may feel this is unnecessary, but it is an option. At the end of the day, selling a home with tenants can be a complicated dance, but making them a part of the process can go a long way to keeping everyone in step.

JANUARY-MARCH 2019 · ARCADIA REALTOR®

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YOUR ARCADIA ASSOCIATION OF REALTORS®

2019 OFFICERS & DIRECTORS

Kelvin Chang, 2019 President

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Jim Maceo, 2019 President-Elect

Julie Bencosme, 2019 Treasurer

Margaret Garemore, Immed. Past-President

Ryan Asao, Director Past-President 2012

Renee Bannoura, Director

David Chen, Director

Matilde Gonzalez, Director

Patrick Law, Director

May Rahmanian, Director

Mike Vachani, Director Past-President 2014

ARCADIA REALTOR® · JANUARY-MARCH 2019

Margaret’s Farewell Dear members of the Arcadia Association of REALTORS®, my fellow REALTORS® and friends,

were brought back to our Association leadership for discussion and action.

Thank you for the honor of serving as the 2018 President of the Arcadia Association of REALTORS®. As president, I’ve attended many thought provoking events, had numerous meetings with local and state politicians to discuss important real estate issues, and had a very special trip to the NAR meetings in Chicago. Anyone who knows me knows it was a miracle that I got on that plane. When I started the year, I knew I wanted to share my belief of how important relationships are in our business. Not only relationships with clients, but those relationships that we build with other REALTORS® - our friends in the business. As my motto of “Know Us and Trust Us” emphasized, one of my goals was for everyone to feel welcome and a part of our Association family.

Two other highlights this year included the Events for Charity Committee’s year-end donation of $25,000 to many local charities, and our Global Committee winning the coveted NAR Diamond Award! This could not have been accomplished without our stellar team, including the Board of Directors, the numerous committee chairs and members, our wonderful CEO Andrew Cooper and his fabulous staff. 2018 has been both a challenging and prosperous year for our REALTORS®, and for the Arcadia Association. Reflecting on how much we’ve accomplished together in such a short amount of time, I’m filled with a sense of pride for our Association. I look forward to continuing to serve as a Director on the Board, a CAR Director and as the Chair of the Grievance Committee.

One of the highlights of my presidency was attending the weekly caravan meetings to meet and greet our members and guests. I had many conversations over the course of the year with attendees, including new and long-time AAR REALTOR® members, visiting agents, new affiliates and more. I’ve learned so much about your individual goals, hopes, and concerns, and about your fears and dreams for the future of our profession. Many of your concerns

I can’t wait to see what we accomplish together in the new year under the leadership of Kelvin Chang and our incoming 2019 Board of Directors.

All my best, Margaret Garemore

Kelvin’s Welcome Dear Valued Members, Affiliates, Staff & Friends - Happy New Years!

I am truly honored, humbled, and blessed to serve as your 2019 AAR President. This outstanding association has accomplished so many tremendous achievements, built strong invaluable relations within the industry, and I’ve personally witnessed how our small local association has become nationally recognized with global reach & influence. Through the collective efforts of our Members, Affiliates, Staff & volunteers, I’m so thrilled and proud to serve as your President and continue our fine legacy for our members and community.

As a proud AAR member since 2005, I began my leadership path in 2011 being involved with the AAR in numerous capacities, from YPN and Education Chair to BOD & CAR Director positions, I followed the traditional leadership path and have gained so much incredible perspective that will allow me to truly carry the torch and passion for our industry and members. I feel so blessed and thankful for being mentored

by ALL our remarkable Past Presidents

since 2012, including Kelvin Wong. The AAR spirit and “Member’s 1st” attitude has truly been instilled within me - Thank you all for believing in me and preparing me Trust that every decision, event, and policy will be approached carefully, diligently, and professionally.

My 2019 vision and upcoming goals for the AAR are extremely challenging, yet attainable. In a tough competitive industry facing incredible threats and technological changes, we must come together and unite as Realtors while the industry is truly evolving.

1) Enhancing Education and Professionalism through building and collecting an online / on-demand library of powerful content, tutorial videos, and educational classes that may be accessible to our Members 24/7. 2) Improving Communication and Transparency from the Board of Directors to our Members through monthly videos, articles, and/or announcements that will add an additional layer of accountability and 3) Growing our Membership & Expanding our Services by utilizing new technology and products that will improve efficiencies, convenience and reach, and hopefully developing our very own AAR App!

Through our strat-planning process, we have put together a comprehensive list of great ideas and projects to benefit our Membership and enhance the organization, but we can only accomplish these goals through the passion and collective efforts of our volunteers. I am truly proud of what we have accomplished together thus far, our weekly Caravan has evolved into a wonderful community, our Education classes are topnotch, our CEO and staff are incredible, and most importantly - our members and volunteers are amazing.

As a Broker for Coldwell Banker Dynasty and growing up in the industry, I’ve witnessed and experienced so many changes in the industry that truly will empower me to contribute back to the AAR. I am full of ideas and energy, and have a strong passion for Realtors and our industry. I look forward to getting to know you all and always welcome suggestions, thoughts or opinions. I’m thrilled and excited to be serving as your 2019 President and Cheers to making 2019 a successful year for all of us, both personally and professionally.

All my best, Kelvin Chang

JANUARY-MARCH 2019 · ARCADIA REALTOR®

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Annual

Awards & Installation The Arcadia Association of REALTORS® recently installed the new 2019 Officers and Directors at the 95th Annual Inaugural Celebration held on Friday, January 11, 2019 at the San Gabriel Sheraton. More than 200 REALTORS®, Affiliates and guests attended the event. Masters of Ceremonies for the afternoon were Alma Smith with Alma Smith Realty and our very own CEO of the Arcadia Association of REALTORS, Andrew Cooper. The Installation ceremony was conducted by Senator Anthony J. Portantino.

The Officers installed were: Kelvin Chang, President; Jim Maceo, President-Elect; Julie Bencosme, Treasurer and Margaret Garemore, Immed. Past-President. The 2019 Directors are: Ryan Asao; Renee Bannoura; David Chen; Matilde Gonzalez; Patrick Law; May Rahmanian and Mike Vachani.

Margaret Garemore with Jeffrey Prang, LA County Tax Assessor

The Installation ceremony of 2019 President, Kelvin Chang and Officers and Directors was preceded by the presentation of the coveted “REALTOR® of the Year” award presented to Yvonne Rosas-Petty, Century 21 Masters and the “Affiliate of the Year” award presented to Bobbi Martinez, Sam Wright State Farm.

Margaret Garemore with Congresswoman Judy Chu

Other special recognitions included the presentation of the “Community Service” award was given to Sylvia Ramos, Century 21 Village Realty. Presentations of the AAR’s two newest awards. The “AAR Rising Star” award was presented to Kevin Wheeler, Century 21 Village Realty and the “AAR Volunteer of the Year” award was presented to two winners this year Nick Zigic, Nick Zigic, Broker and James Pai, Trans Global Realty.

Outgoing President, Margaret Garemore, received special honorariums and recognition from the Cities of Arcadia, Monrovia and Temple City. U.S. Representative for California’s 49th Congressional District Assemblyman Ed Chau. Acknowledgement of special guests included Arcadia Association Past Presidents along with Presidents and Association Executives from several neighboring Associations.

Kelvin Chang, 2019 President, Acceptance Speech

ANNUAL AWARD WINNERS REALTOR® of the Year Award, Yvonne

Rosas-Petty

The “REALTOR® of the Year” award is given to someone who has had business success, who is advanced in their real estate education and designations, who participates in their local Association and protects and promotes organized real estate, among other things. We would like to congratulate Yvonne Rosas-Petty, Century 21 Masters for being this year’s REALTOR® of the Year award winner!

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ARCADIA REALTOR® · JANUARY-MARCH 2019

Award winner Yvonne Rosas-Petty

Affiliate of the Year Award,

Award winner Bobbi Martinez

AAR Rising Star,

Bobbi Martinez

The Affiliate of the Year Award was established in 1980. Selection is based on the following criteria: Organizational activities and involvement in the Affiliate Committee, MLS participant work and participation in other Association activities, positive attitude, service, business proficiency and other exemplary conduct. Our winner this year currently serves on the Events for Charity Committee. Well-done and congratulations to Bobbi Martinez of Sam Wright State Farm!

Kevin Wheeler

The purpose of this award is to recognize an active AAR REALTOR® who has been a member of the Association for 3 years or less. Additional traits that the Rising Star honoree should have include involvement with AAR committees, be an inspiration to other REALTORS®, works well with other industry colleagues and displays strong leadership qualities. Congratulations to Kevin Wheeler, Century 21 Village Realty for receiving the Rising Star Award!

Community Service Award,

Award winner Sylvia Ramos

Sylvia Ramos

This award is not an annual AAR award. Rather it is a special award given to a very deserving AAR member who has demonstrated outstanding achievement in servicing the outside community through great volunteerism, acts of kindness, selfless giving and in making a significant difference to those in need. Our winner is recognised for their outstanding volunteerism internally and are also very deserving of the AAR Community Service Award.

We would like to congratulate Sylvia Ramos of Century 21 Village Realty!

AAR Volunteer of the Year,

James Pai

The second new award created by the Arcadia Association of REALTORS® this year is the “AAR Volunteer of the Year” Award. This award recognizes an active AAR REALTOR® who volunteers their time within the Association in some manner. Additional qualifications that the honoree should have include having the AAR as their Primary Association, 5 years of continuous membership, committee leadership experience, participation in AAR events as well as working well with other REALTORS®, Affiliates and AAR Staff. The Volunteer of the Year Award winner is James Pai of Trans Global Realty!

AAR Volunteer of the Year,

Award winner Nick Zigic

Award winner Kevin Wheeler

Award winner James Pai

Nick Zigic

The second new award created by the Arcadia Association of REALTORS® this year is the “AAR Volunteer of the Year” Award. This award recognizes an active AAR REALTOR® who volunteers their time within the Association in some manner. Additional qualifications that the honoree should have include having the AAR as their Primary Association, 5 years of continuous membership, committee leadership experience, participation in AAR events as well as working well with other REALTORS®, Affiliates and AAR Staff. The Volunteer of the Year Award winner is Nick Zigic of Nick Zigic, Broker!

JANUARY-MARCH 2019 · ARCADIA REALTOR®

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BINGO NIGHT FRIDAY, JUNE 14 / 6-9PM ARCADIA COMMUNITY CENTER 365 Campus Dr, Arcadia, CA 91007

Adult ONLY!: $25 / $35 at Door Child 12 & Under: $10 / $15 at Door Tickets available online & at the AAR Building Dinner will be serving:

Dinner sponsor: Sam Wright

TICKET INCLUDES:

- 1 Dinner Plate - 1 Drink (non-alcohol) - 1 Bingo Card - 1 Raffle Ticket

Ice Cream Sponsors:

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.)

www.TheAAR.com ~ 601 S. First Ave. Arcadia, CA 91006 ~ 626-446-2115 ~ Fx. 626-446-4072