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Arcadia

REALTOR速

The Official Publication of the Arcadia Association of REALTORS速

Legislation Introduced to Stop REO Bulk Sales in California See page 11

Spend Only One Hour a Week on Social Media See page 10

C.A.R. Business Meetings & Legislative Day See page 8 JUNE 2012

WWW.THEAAR.COM

1 VOL. 16, NO. 6


Arcadia

REALTOR®

Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006 626.446.2115 626.446.4072 FAX www.TheAAR.com

2012 ASSOCIATION OFFICERS

REGULAR FEATURES 4 Events Calendar

4 From the EVP’s Desk Andrew Cooper, Executive Vice President

5 Attorney Comments Dave Freeman, AAR Legal Counsel

6 Market Matters

10 Tech Talk

“4 Ways to Make Online Recommendations Work for You” Stefanie Hahn, N.A.R. REALTOR® Magazine

Ryan Asao {President} Andy Bencosme {President-Elect} Mike Vachani {Vice-President} Jill Nelson {Secretary/Treasurer}

2012 ASSOCIATION DIRECTORS Margaret Garemore Jeanne Keating John Lee Paulina Lee George Monte Joseph Pacilio Sylvia Ramos Irene Yamagata Nick Zigic

2012 C.A.R. DIRECTORS

Ryan Asao Andy Bencosme Jeanne Keating Paulina Lee George Monte Richard Stone Randall Traw Mike Vachani Kelvin Wong Nick Zigic

ARCADIA ASSOCIATION STAFF

“Spend Only One Hour a Week on Social Media” Katherine Tarbox, N.A.R. REALTOR® Magazine

06.12

{ Arcadia REALTOR® | June | Two Thousand and Twelve | Volume Sixteen | Number Six}

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June 2012

We are here to help you with your needs! Office Phone 626.446.2115 Robin Allen Ext. 307 Director of Finance / Office Manager Robin@TheAAR.com Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com Brenda Faltes Ext. 304 Director of MLS Data Integrity, Supra & Social Media Brenda@TheAAR.com Stephanie Maertens Ext. 303 Director of Education, Publications & MLS Caravan Stephanie@TheAAR.com Maria Roberts Ext. 305 Director of Membership & Professional Standards Maria@TheAAR.com Jane Shriver Ext. 301 Director of Association Services Jane@TheAAR.com Andrew Cooper Ext. 308 Executive Vice President Andrew@TheAAR.com


ON THE COVER 8 C.A.R. Business Meetings & Legislative Day A recap of the recent business meetings in Sacramento. Also, a congratulations to our two PEPster contest iPad winners! 10

Spend Only One Hour a Week on Social Media Tips to help streamline your social media.

11 Legislation Introduced to Stop REO Bulk Sales in California A look at a recent legislation introduced to cease selling foreclosed homes in California to large investors. 10

Slate of 2013 Officers & Directors

411 E. Huntington Dr. Suite 101 B, Arcadia CA 91006 Phone: 626-446-2401 Fax: 626-446-2362

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Contempo Difference!!

ADDITIONAL CONTENTS 3

Global Business Alliance Committee “The EB-5 Immigration Progam” Please join us at our upcoming mixer to learn all about the EB-5 Immigration Program.

5

Arcadia Relay For Life: June 23-24

7

AAR New Members The AAR welcomes its newest REALTOR® members.

9

Public Relations Committee Join us at our next Public Relations Committee meeting on Wednesday, June 20th at 9:30 a.m. in the AAR.

9

Public Relations Committee A review of the recent CAREPA expo that the AAR was honored to be a part of.

12

Commercial Marketing Mixer A recap of the recent free mixer offered by the AAR Commercial Committee.

12

Equal / Housing Opportunity Committee “HARP 2.0 - Home Assistance Recovery Program” Be in-the-know about this new version of the program.

12

Congratulations Camelia! Camelia recently won an AAR Global Business Alliance Committee contest for suggesting a new name for the Committee.

13

Top 10 Tips for Short Sales Check this list to make sure you are at the top of your real estate game.

14

Broker Price Opinion (BPOR) Certification We are offering this fantastic certication for only $89! That is the most inexpensive it has been offered in California! Hope to see you there!

Teresa L. Shaver Certified Sr. Escrow Officer

Amy Choy Escrow Officer

Global Business Alliance Committee proudly presents

Global Business Networking Mixer Wednesday, June 20, 2012 4:00 p.m. to 5:30 p.m. Cost: FREE (with $10 refundable deposit)

Arcadia Association of REALTORS® 601 S. First Ave. Arcadia, CA 91006

“The EB-5 Immigration Program” GUEST SPEAKER:

Howard Ting, Senior Vice President, YK America Group Howard Ting immigrated from Taiwan in 1980. He was the founder of the VIC International Corporation /HTC USA Group in 1984 (located in Monterey Park and Alhambra). VIC has been one of the leading companies in Tel communication, Trading and Business Development. In the late 1980’s, Howard became involved with real estate investment and development. Since his real estate beginnings, Howard has been involved in many vacant land, commercial and industrial parks, shopping centers, track housing developments and international projects in both Mexico and China. Join us at this FREE mixer to learn:  What the EB-5 Program is  How to qualify for the program  How much investment is needed  Conditional and Unconditional Green Cards  And much more!

Join us for some complimentary appetizers and enjoy networking opportunities with others in the real estate arena who enjoy and specialize in international business.

TO REGISTER, VISIT WWW.THEAAR.COM AND CLICK ON THE EVENT NAME UNDER “UPCOMING EVENTS”.

Arcadia REALTOR® Magazine

3


June Events Calendar

1

12:00 p.m. - 1:30 p.m. - Toastmasters

5

9:00 a.m. - 12:00 p.m. - “Landlord’s Dirty Little Secrets: Exposing the Most Troubling Pitfalls for Tenants in Commercial Leases” at AAR

6 8:00 a.m. - Annual Membership Breakfast at Masonic Center 8:30 a.m. - MLS Caravan 9:30 a.m. - Events 4 Charity Committee Mtg. 1:00 p.m. - Ethics Video

FROM THE EVP’S DESK Who Is In Your Sandbox?? I was watching my 18 month old son play in his sandbox the other day. When either myself or my wife went over to play with him he welcomed us in with his big smile and funny little laugh. By contrast I remember a time when a neighbor’s child was playing with our son and that child wasn’t being particularly nice that day. As a result, my son was very reluctant to let him in the sandbox to play. This little story correlates to the way so many wildly successful people conduct their business practices. If they cannot trust the people they are inviting into their sandbox to play, or if they are negative and pessimistic, they simply won’t spend even a minute with them.

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9:30 a.m. - Commercial Committee Mtg. 11:00 a.m. - Commercial Marketing Mixer

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8:30 a.m. - New Member Orientation

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11:00 a.m. - Tech Committee Mtg. 1:30 p.m. - CRMLS Operations Mtg.

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8:30 a.m. - New Member Induction 8:30 a.m. - MLS Caravan 8:40 a.m. - Affiliate Committee Mtg. 9:30 a.m. - MLS Committee Mtg. 3:30 p.m. - Equal Opportunity / Housing Affordability Committee Mtg.

14

9:00 a.m. - 5:00 p.m. - “Broker Price Opinion Resource (BPOR) Certification” at AAR

15

12:00 p.m. - 1:30 p.m. - Toastmasters

18

10:00 a.m. - CRMLS Association Executives Mtg. 10:00 a.m. - 4:00 p.m. - CRMLS Training at AAR

19

10:00 a.m. - Zipforms Training 1:00 p.m. - Education Committee Mtg.

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8:30 a.m. - MLS Caravan 9:30 a.m. - Public Relations Committee Mtg. 1:00 p.m. - Ethics Video 1:30 p.m. - Local Government Relations Committee Mtg. 3:00 p.m. - Global Business Alliance Committee Mtg. 4:00 p.m. - Global Business Alliance Mixer “The EB-5 Immigation Program”

21

11:00 a.m. - 12:00 p.m. - Lunch & Learn Series “Mortgage” 1:30 p.m. - CRMLS Finance Mtg.

22

11:30 a.m. - 1:30 p.m. - PEPster Luncheon

23

11:00 a.m. - Relay for Life at Santa Anita Park

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1:30 p.m. - Budget and Finance Committee Mtg.

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8:30 a.m. - MLS Caravan 9:30 a.m. - Young Professionals Network Committee Mtg.

Legendary sportscaster Charlie Jones summarized it best, “In five years you will be the same person you are today with the exception of the books you read and the people you hang out with.”

28

6:00 p.m. - YPN “Party for a Purpose” C.A.R. Association Executive Institue (June 28-30)

I hope the next sandcastle you build in your sandbox is the biggest and best one ever.

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8:30 a.m. - AAR Board of Directors Mtg.

Andrew Cooper

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June 2012

So who do you allow in to your sandbox? Are you surrounding yourself with people of integrity, character and high- ethical standards? Are you associating with infectiously positive people? As REALTORS® we’re obligated to follow the REALTOR® Code of Ethics in our business dealings but what if we do the same with the people in our personal lives as well? Some people may argue that in business you have to deal with people that you don’t enjoy being around or who are negative because of the contacts they may have. I disagree. We have a choice with whom we associate and there are hundreds of thousands of examples of people who become successful at their own terms. After taking a long hard look at who is presently in your sandbox, ask yourself these questions: Are they the kind of people you really want to be associated with? Who would you most like to be in your sandbox and who would you most like to be out of it? Lastly, what (or who) is keeping you from making those changes? I can share a personal example of how hard it is to extricate yourself from the wrong people. I severed a longtime friendship with someone I knew since kindergarten. My loyalty was the only reason I remained friends with him for as long as I did. But after repeatedly asking myself the same questions as above, after about the 100th time of gut-wrenching internalizing, I finally accepted the fact that at the end of the day he wasn’t adding any value to my life and as a result I was allowing him to take precious value away. There are so many really good, honest, positive, and supportive people that I choose to play with and who are happy to join me in my sandbox. If you try this, after a while, you too will find that the only people who appear in your life are the kind of people you want to be around. The more you intentionally choose who you spend your time with, the more enjoyable your life will become. I’m proof positive with that one.

Executive Vice-President


Attorney Comments May 2012

By Dave Freeman, Association Counsel 1. HOA PARKING DISCLOSURES: The new Homeowner Association Information Request (revised April of 2012) is an excellent document to not only request the relevant and necessary information from the HOA when representing a buyer of a condominium, but also is an excellent check list to be sure the buyer is aware of each of the important and relevant matters of the HOA. In particular, the check boxes for: A. Number of designated parking spaces. B. Location of parking spaces. C. Number of designated storage spaces. D. Location of storage spaces. These are all important questions that may be overlooked in the purchase of a condominium, but become very important to the buyer upon moving in. Also, immediately above the parking check boxes is a check box for pending or anticipated claims or litigation by or against the HOA. This is another extremely important element for the buyer to consider prior to purchasing a condominium. Not only is the existence of the lawsuit potentially very expensive to the individual condominium owners and the HOA,

but the reason for the lawsuit may be extremely important to the new buyer. 2. SEPTIC, WELL, AND PROPERTY MONUMENT INSPECTION AND ALLOCATION OF COST ADDENDUM (SWPMI): This form must always be considered when dealing with properties which are in locations that might have septic systems or wells. This is also a reason why agents who deal in properties outside of their normal activity areas should bring in an agent who is very knowledgeable in the location of the property being dealt with. By using the form properly and checking the appropriate coxes, otherwise overlooked instigators for lawsuits after close of escrow can be caught early and dealt with efficiently. Not only does the form have check boxes to decide if the buyer or seller will pay for the certification of the septic or well, but who will pay for the repairs to same if called for. Most importantly, by reading through the short form and checking the relevant boxes with your client, the issues that are frequently overlooked are brought to yours and your client’s attention at an early, decision making stage. 3. CITE AND FINE LAW: This is a new law which the DRE appears to be happy to use as a cost recovery method for their investigation and discipline of agents. However, they also advertise

the program as a benefit to agents and brokers who have minor violations of the rules, regulations and laws. This fine, which can range up to $2,500.00 maximum, and can be imposed against licensees and non-licensees is non-public information (a formal records request, properly worded, could unveil the existence of the citation however). This law, which is meant to stop technical violations, does not have regulations published yet. However, we do know the fine will be the only penalty for these minor technical violations, such as not having a proper record of trust funds. As stated, the DRE’s purpose in instituting this law is to cause the violator to pay for the investigation and effort. To begin with, there will not just be investigators writing tickets. Rather, each violation will be considered at the DRE. There is no answer yet as to whether the person involved will lose their license if they do not pay the fine. Agents and brokers can challenge the violations/fine, but there will be a charge for same. The DRE feels this is a benefit to both the licensee and the DRE. By paying the fine, the licensee can avoid a ding on their record without having to fight same. The department benefits by being able to halt technical violations, and by being repaid part of their expense in investigating and halting the violations.

Arcadia REALTOR® Magazine

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Market

Matters

Market Statistics for the San Gabriel Valley Single Family Homes

City Alhambra

6

Zip Code 91801

Condominiums

Price % Sales of Chg from Single Family Price Median January Homes SFR ($1,000) 2011 13

$510

April 2012

-11.6%

Price Median Condo ($1,000)

Sales Count Condos

SFR Only

Price & Chg from Median January Home Price/ 2011 Sq. Ft.

6

$328

-11.0%

$307

Alhambra

91803

8

$413

14.1%

2

$200

-13.3%

$323

Altadena

91001

34

$405

-17.7%

n/a

n/a

n/a

$295

Arcadia

91006

17

$995

47.4%

4

$435

-39.7%

$427

Arcadia

91007

20

$1,150

32.5%

8

$489

9.8%

$378

Azusa

91702

25

$252

0.8%

9

$174

-5.4%

$189

Duarte

91010

12

$311

19.6%

8

$205

-21.9%

$208

El Monte

91731

8

$266

-19.5%

1

$460

97.4%

$220

El Monte

91732

12

$273

-11.9%

11

$305

9.7%

$231

El Monte - South

91733

11

$285

0.0%

n/a

n/a

n/a

$214

Glendora

91740

16

$313

-15.5%

3

$330

41.0%

$218

Glendora

91741

24

$365

-29.5%

1

$330

3.1%

$254

La Ca単ada Flintridge

91011

26

$1,275

13.3%

n/a

n/a

n/a

$463

La Verne

91750

23

$372

-4.6%

4

$184

-47.2%

$240

Monrovia

91016

22

$520

36.8%

5

$325

5.0%

$301

Pasadena

91101

n/a

n/a

n/a

9

$365

-3.7%

n/a

Pasadena

91103

16

$445

25.4%

3

$490

-16.9%

$303

Pasadena

91104

23

$446

-8.6%

n/a

n/a

n/a

$346

Pasadena

91105

18

$780

0.5%

6

$531

5.6%

$437

Pasadena

91106

11

$1,325

75.5%

12

$350

16.2%

$481

Pasadena

91107

30

$675

10.8%

7

$505

25.9%

$390

Rosemead

91770

16

$375

8.7%

2

$294

3.2%

$336

San Gabriel

91775

13

$548

-20.3%

n/a

n/a

n/a

$373

San Gabriel

91776

11

$488

15.5%

2

$253

-23.9%

$349

San Marino

91108

14

$1,656

-0.2%

n/a

n/a

n/a

$557

Sierra Madre

91024

13

$638

16.1%

2

$638

3.6%

$408

Temple City

91780

20

$495

-14.7%

3

$362

-23.5%

$371

Source: DQNews.com

June 2012


AAR New Members The Arcadia Association of REALTORS® would like to formally welcome our newest REALTOR® members! AAR new members with Membership Committee Vice Chairman, Cindy Shiao and Committee Chairman, Sylvia Ramos are (in no particular order): Steven Chang, Alpha Realty Group; Anita Peterson, Anita Peterson Realty; Sheree Tang, Castlewood; Suzanne Fu, Century 21 Ludecke, Inc.; Wei Lin, Century 21 Ludecke, Inc.; Esma Ali, Coldwell Banker George; Girgis Eskander, Coldwell Banker George; Shili Hu, Coldwell Banker Dynasty Temple City; Anastasia Budiman, Coldwell Banker New Century; Tristan Park, Coldwell Banker New Century; King Chan, Coldwell Banker Dynasty Arcadia; Peter Dao, Coldwell Banker Dynasty Arcadia; Angel Tseng, Coldwell Banker Dynasty Arcadia; David Stewart, David Stewart Broker; Irene Lee, Grandmark Realty Inc.; Citlally Morinico, Grandmark Realty Inc.; Chien-ni Abbott, Highland Real Estate; Lili Tong, Highland Real Estate; Zhao Zhou, Highland Real Estate; John Chen, IRN Realty; Sai-Tat Chung, IRN Realty; Sergio Gutierrez, Keller Williams Realty; Karen de Mauricio, Keller Williams West Foothills; Marcie Keffer, Keller Williams West Foothills; Jennifer Nazarian, Keller Williams West Foothills; Pablo Puga, Keller Williams West Foothills; Javier Rodriguez, Keller Williams West Foothills; Leo Chang, Long Dragon Realty; Maria Ng Ho, Long Dragon Realty; Tom Yu, Long Dragon Realty; Becky Shevlin, Podley Properties; Elaine Biancone, Re/Max Premier Properties Arcadia; and Sandi Kaw, Tendwell Realty & Investment.



(626) 831-8862 www.morrisoninspects.com Arcadia REALTOR® Magazine

7


C.A.R. Business Meetings & Legislative Day By Andy Bencosme, AAR 2012 President-Elect and Micah Adams, YPN Co-Chairman The California Association of REALTORS® recently held their Annual Legislative Day followed by business meetings of committees, forums, and Board of Director’s meetings. During Legislative Day, we started with the briefing session where representatives of C.A.R. reviewed the issues, policies and procedures for visiting our State Legislators. Approximately 1,500 REALTORS® converged on the Sacramento Convention Center to hear California Governor Jerry Brown Jr. speak about issues affecting the real estate industry and our state. One of the issues discussed was AB 1745 (Torres). This C.A.R. sponsored bill would prevent lenders from foreclosing on a property after having approved a short sale. C.A.R. is sponsoring AB 1745 because the banks’ current “dual tracking” procedure of allowing both a foreclosure and a short sale approval process to run concurrently has resulted in families losing their homes when a short sale has already been approved. The second issue includes several bills which C.A.R. is opposing regarding Foreclosure Procedure Reform. They have been introduced as a package and sponsored by the state Attorney General. C.A.R. opposes provisions in these measures which will: (1) force those recording a Notice of Default (NOD) to certify the chain of title of the note and mortgage or deed of trust; (2) create a very broad definition of a “robosigned document” and impose civil penalties for recording that document; and (3) permanently establish a 90-day notice to vacate foreclosed properties. To discuss these issues the representatives from the AAR visited the Capitol and had meetings with Assemblyman Anthony Portantino, Assemblyman Tim Donnelly, Senator Bob Huff and Senator Carol Liu. During these meetings, we thanked them for the legislation they supported or opposed that was in our best interest of private property rights and discussed our position on the bills I mentioned above. We also talked at length about the current state of the real estate market. During lunch that day, our AAR representation joined members of the Pasadena-Foothill Association of REALTORS® and members of the Glendale Association of REALTORS® at the Sheraton Grand Hotel and heard from our Government Affairs Director, Chip Ahlswede. The AAR had a large contingent of REALTORS® take part in Legislative Day and the business meetings that AAR members with Assemblyman, Anthony Portantino are (L to R): Yvonne Rosas-Petty, followed. Two members of the group Margaret Garemore; Assemblyman, Anthony Portantino; Sonia Santos and Daniel Petty. (Continued on page 9)

8

June 2012

AAR Leadership members in Sacramento for the C.A.R. Business Meetings and Legislative Day are (Top L to R): Nick Zigic, Micah Adams, Joe Pacilio and AAR Executive Vice-President, Andrew Cooper. (Middle L to R): Kelvin Chang, Kelvin Wong, Roy Blume, Brown Ho and AAR 2012 President-Elect, Andy Bencosme. (Front L to R): Connie Hanson, Sonia Santos; AAR 2012 President, Ryan Asao; Sylvia Ramos, Irene Yamagata and Margaret Garemore. Not pictured: George Monte, Richard Stone, Mike Vachani and Jeanne Keating.


(Continued from page 8)

C.A.R. Business Meetings & Legislative Day

were winners of the Local Government Relations Committee’s PEPster Contest. Connie Hanson from Coldwell Banker Arcadia Regional Office and Brown Ho from CENTURY 21 Ludecke Inc, were selected at random from our membership to take the trip to Sacramento and participate in Leg Day. Upon their return from the trip they were also each given an iPad at the weekly MLS Caravan. To qualify for the contest, members had to pay their dues prior to December 31, 2011 and also contribute $50 to become a PEPster (Politically Elite Participant). Overall, this was a successful trip and I would like to thank all of our volunteer REALTORS® who participated in representing the membership of the AAR and the clients they serve.

AAR 2012 President, Ryan Asao (Center Left) and AAR 2012 President-Elect, Andy Bencosme (Center Right) present PEPster contest winners Brown Ho (Far Left) and Connie Hanson (Far Right) with their new iPads and a recent MLS Caravan meeting.

PUBLIC RELATIONS COMMITTEE By Hugo Torres, Committee Member

I recently attended a Public Relations Committee meeting and I was encouraged. The Committee is an eclectic mix of experience, personalities and passionate points of view that come together to help tell the stories of local real estate professionals in the San Gabriel Valley. One of the challenges the real estate industry faces is the misconception that it is comprised of affluent professionals who spend their days driving about town in expensive cars, taking two-hour lunches and selling million dollar listings. Sometimes, the public fails to see that it is often REALTORS® who are among the biggest supporters of the PTA, Relay for Life, Make A Difference Day and a myriad of other worthwhile causes. They are not aware that each year, the local industry comes together to donate thousands of dollars to dozens of organizations who have seen their budgets shrink in these difficult economic times. This is the gap in understanding that the Public Relations Committee hopes to lessen and we need your help. In order for a story to be interesting, it needs to be colorful. Luckily for us, at the Arcadia Association of REALTORS® we have some of the most vivacious individual characters and spirited brokerages around who are actively making a difference in their community through the local Association. These are the stories we’d like to help promote to fellow agents and the public. This includes photos, videos and a few paragraphs to describe the event you are participating in. Moreover, we’d love for you to attend a Committee meeting and be a first hand witness to upcoming AAR classes, events and training. Help us shape the story. This, I think, is a wonderful opportunity for a REALTOR® who’d like to learn how to promote him/herself to brainstorm with other like-minded professionals. Learn how to maximize your exposure on the social media universe that has become a relevant resource for savvy real estate marketers. Join so that you understand the difference real estate professionals make every day and help shape your dialogue with potential customers about the pluses of going with a REALTOR®. Join so you can be encouraged. Just like me!

PUBLIC RELATIONS COMMITTEE

By Lina Chen, Committee Co-Chairman

On April 28 , the AAR participated at the Chinese American Real Estate Professionals Association (CAREPA) Expo held at the San Gabriel Hilton.  The event was open to the public and the AAR was there to help buyers, sellers, and REALTORS® understand more about the market trends.  The AAR provided various flyers on upcoming events such as the Broker Price Opinion Resource Certification on June 14th and the Commercial Real Estate Summit on July 13th.  These events are beneficial to the education and development of anyone who is interested in real estate. th

In addition to meeting fellow conference attendees, we also networked with other participating firms such as title companies and loan departments.  Furthermore, there were keynote speakers covering topics from foreign investors to property management law.  The AAR’s presence at the Expo also attracted many real estate professionals to visit our booth to inquire about our upcoming events and how to become involved with the AAR, whether through advertising or education seminars.  The AAR invites our fellow REALTORS® to take advantage of events and seminars that the AAR offers as a benefit to our members and friends.  Please join our various committees to help make our Association better benefit you. For more information on the various Committee Suzie Koo (L) and Lina Chen (R) help at the AAR participation opportunities offered, contact the AAR at (626) 446-2115. booth at the recent CAREPA Expo. Arcadia REALTOR® Magazine

9


Tech.Talk

4 Ways to Make Online Recommendations Work for You By Stefanie Hahn, N.A.R. REALTOR® Magazine

Online agent ratings and recommendations are more popular than ever, but if you’re going to engage with rating sites, you should know what you’re getting into. After all, your reputation is on the line.

3. Know the policies. Do you have any recourse when someone posts an awful—or worse yet a bogus—review of your service? Can you respond to the reviewer or, in some cases, get a review removed from the site?

1. Find what fits. Navigate around these sites to determine which best fit for your business. Through Zillow, buyers and sellers can search for real estate practitioners based on ratings and reviews from former clients. Yelp is great for its locationbased context. LinkedIn allows for more control to ask for and highlight recommendations from certain clients.

4. Check out SocialBios. Recently acquired by Move Inc., which operates Realtor.com, SocialBios.com helps real estate pros create profiles that tie together their bio, Web sites, social updates, and recommendations. It essentially provides a consolidated resource Web page about you for potential clients. The HyperSocial Agent Profile Pages and HyperSocial Agent Recommendations are still in beta, but you can get started now. Connect your MLS and Realtor.com account to your SocialBio profile, and grab the embed code to add a widget to your sites as well.

2. Build up recommendations. With permission, use the text of thank-you cards and notes from happy clients. Don’t be shy about sending recommendation requests to clients.Ask them to review or rank you at the completion of your transaction while the details of your hard work are fresh in their mind. Bonus points for getting your clients to recommend you on video, which you can publish on your Web site or YouTube channel.

Spend Only One Hour a Week on Social Media By Katherine Tarbox, N.A.R. REALTOR® Magazine

In an era of unrelenting Twitter streams and Facebook posts, engaging with social media can seem like a time-sucking endeavor. Between producing content and engaging with your followers, how are you supposed to have time to conduct business? One hour of dedicated social media time per week brings 15 to 20 sales a year for Alex Milshteyn, ABR, GRI, associate broker with Edward Surovell, REALTORS®, in Ann Arbor, Mich. Here are his tips.

10

social media right when they wake up and right before they go to bed,” says Milshteyn, who has tested posting at all hours to come up with this best practice. It’s important to engage with followers who respond to your posts, so Milshteyn also checks his social networks once a day to respond to followers.

Condense your feeds. Online platforms such as HootSuite and TweetDeck allow you to sign into one console and link your various social media profiles so you don’t have to log into each social media application to engage with followers.

Let others do your work. Don’t spend time you don’t have crafting original items. Your daily updates should be easy to produce. Post news about your market or home remodeling trends from HouseLogic.com, for example. Trending topics usually gain the most traction, anyway, and will go viral with your branding when others share your posts.

Automate your posts. Through these consoles, you can schedule posts for the week. Each Sunday night, Milshteyn schedules the updates he’ll post to Facebook, Twitter, and LinkedIn for the week. He schedules these posts to appear in the morning and late at night. “I’ve found that people check

Reach a greater sphere. Milshteyn sets aside $300 a month for Facebook ads, paying about $2 a click to gain new fans. He targets different groups, such as those who’ve listed their status as engaged and who live in his market area.

June 2012


Legislation Introduced to Stop REO Bulk Sales in California California Congressmen Gary Miller (R-Brea) and seven other California congressional members recently introduced legislation that calls for the Federal Housing Finance Agency (FHFA) to cease its plan to sell Fannie Mae-owned foreclosed homes in California to large investors. H.R. 5823, the “Saving Taxpayers from Unnecessary GSE Bulk Sale Programs Act of 2012,” prevents the FHFA from implementing an initiative to sell Fannie Mae real estate-owned (REO) properties in California to institutional investors. The bill’s co-sponsors include Ken Calvert (R-Riverside), Judy Chu (D-El Monte), Brad Sherman (D-Sherman Oaks), Dana Rohrabacher (R-Huntington Beach), Elton Gallegly (R-Simi Valley), Susan Davis (D-San Diego), and Joe Baca (D-Rialto). “C.A.R. applauds these California representatives for understanding that the bulk REO sales program would negatively impact the housing market in California and potentially further delay a housing recovery,” said C.A.R. President LeFrancis Arnold. “We are hearing from our members that housing supply is extremely tight, with REO inventory being especially low at only a two-month supply. Consequently, California home buyers already are competing with small investors and encountering multiple offer scenarios.” C.A.R. believes bulk REO sales are not necessary in California because housing inventory is extremely low and demand is high. According to C.A.R. data, sales of bank-owned homes are closing in an average of less than 60 days – and often above the list price – without government intervention.

Slate of 2013 Officers and Directors The 2012 Nominating Committee has met and nominated the following slate of candidates to serve as Officers and Directors for 2013.

PRESIDENT Andy Bencosme Century 21 Village

PRESIDENT-ELECT Mike Vachani Provenio Realty Investment

VICE PRESIDENT Joe Pacilio Century 21 Earll, Ltd.

SECRETARY / TREAURER Jill Nelson Dilbeck Real Estate

TWO YEAR DIRECTORS Micah Adams, Century 21 Adams & Barnes Ryan Asao, Podley Properties Kelvin Chang, Coldwell Banker Dynasty T.C. John Lee, Long Dragon Realty Jeanne Keating, Century 21 Village Realty ONE YEAR DIRECTORS Margaret Garemore, Podley Properties Paulina Lee, Keller Williams West Foothills Sylvia Ramos, Coldwell Banker George Irene Yamagata, RE/Max Premier Properties Arcadia Additional candidates for the office to be filled may be placed in nomination by a petition signed by at least twenty five percent (25%) of the members eligible to vote. The petition shall be filed with the Executive Vice President at least three (3) weeks prior to the election. The approval of 2013 Officers and Directors shall take place at the Annual Membership Meeting scheduled for Wednesday, June 6, 2012 at the Masonic Center, 50 West Duarte Road, Arcadia.

The introduction of the bill follows on the heels of a letter Congressman Gary Miller and 18 other California Congressional members sent to the FHFA in April asking the agency to refrain from implementing its “REO Initiative” pilot program in California. The REO Initiative pilot program calls for the sale of more than 600 Fannie Mae-owned foreclosed units in Los Angeles and Riverside counties to institutional investors. The letter stated, “We are concerned that including California counties in this initiative is in direct conflict with your duty as conservator to preserve and conserve the Company’s assets… In California, there is no question that disposing properties through bulk sales will yield a lower return for the GSEs and taxpayers than through traditional disposition methods. This means that such a program will increase losses to the taxpayer and GSEs,” the letter concludes. The 19 California Congressional members who backed the letter include Gary Miller, Jerry Lewis, Ken Calvert, Jeff Denham, Elton Gallegly, Dana Rohrabacher, Buck McKeon, Duncan Hunter, Brian Bilbray, Mary Bono Mack, Susan Davis, Brad Sherman, Joe Baca, Grace Napolitano, Judy Chu, Jim Costa, Adam Schiff, Barbara Lee, and Howard Berman. Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles. Arcadia REALTOR® Magazine

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COMMERCIAL COMMITTEE

“The Benefits of Membership with AIR” The AAR Commercial/Investment Committee recently held its monthly Commercial Marketing Mixer at the AAR building. This month featured an informative session on “Transit – Oriented Development and Commercial Real Estate Affected by the Gold Line Extension” with Sylvia Beltran, Community Outreach Coordinator, Metro Gold Line Construction and Steve Sizemore, Community Director, City of Monrovia Planning Department. In addition to offering tons of great important information, lunch was also provided by Julie Arballo, Wells Fargo and Teresa Shaver, Contempo Escrow for those who attended. If you are interested in Commercial real estate and would like to attend our free monthly marketing mixers, they are held at the AAR office on the first Thursday of every month at 11:00 a.m.

Equal / Housing Opportunity Committee “HARP 2.0 - Home Assistance Recovery Program”” By Cd’s Paniagua, Committee Member

HARP 2.0 is the second version of the Home Assistance Recovery Program that previously had a maximum LTV (loan to value) of 125%. The new HARP 2.0 program has had this limit removed. This new program was created to help additional borrowers that are “underwater” with loans sold to Fannie Mae or Freddie Mac. The program will not allow cash out, and loans with MI (mortgage insurance) are allowed. In some cases an appraisal waiver will be given. In order to use this program to refinance your property that may be “underwater,” your loan must be:

Members of the Commercial/Investment Committee with the speaker and sponsor are (L to R): Sylvia Beltran, Metro Gold Line; a representative from the City of Monrovia; Fred Madjar; a representative from the City of Monrovia; Julie Arballo, Steve Sizemore, City of Monrovia; Suzie Koo, Teresa Shaver and Tim Johnson.

Design Escrow, Inc. Known for the integrity of our intent and quality of our actions, we have the confidence to do what is required, the courage to move the process along to successful completion, and the compassion to listen to needs of all parties involved.

Design Escrow, 128 East Huntington Drive Inc.

• Owned by Fannie Mae ---http://www.fanniemae.com/ loanlookup or Freddie Mac---https://ww3.freddiemac. com/corporate. If you are not sure, their website will tell you if your loan is owned by one of them. • Your loan must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009 • Current LTV must be greater than 80% • You must be current on your monthly mortgage payment, with no late payments in the past six months and no more than one late payment in the past 12months. • You will not be eligible to use HARP 2.0, if you have previously refinanced under the HARP program.

Arcadia, CA 91006 If you have any questions and or have past clients that may 20 Years of Doing Business and Providing Great Service! benefit from this program, please feel free to contact me for

626.445.6137

more information @ cds.paniagua@trufinance.com or 626397-9997. We offer Five Languages & Full time In House Messenger

Congratulations Camelia!

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Standing (left (left toright): right): Yolanda Yolanda Vidales, Vidales, Julie Julie Nguyen, Nguyen, Kai Kai Wu, Jackie Jackie Ramos, Liem Liem Ho, Ho, Standing standing (left to to right): Yolanda Vidales, Julie Nguyen, Kai Wu, JackieWu, Ramos, Liem Ramos, Ho, Janet Cerswell, JanetCerswell, Cerswell, Suzie SuzieArchuleta, Archuleta, Luly Luly Goodmand and Jojo Janet Jojo Ong Ong. Suzie Archuleta, Luly Goodman, Jojo Ong Sitting (left to right): Terri TerriFabbri, Fabbri,Alexis AlexisOstensen, Ostensen,Kay KayGass Gassand and Shelly Malicek Sitting sitting(left (leftto to right): right): Terri Fabbri, Alexis Ostensen, Kay Gass, Shelley MalicekShelly Malicek

June 2012

We are members of the:

Specialize in: Bulks, The AAR Global Business Alliance Short SalesCommittee held a contest at BizN.E.T. Commercial2012 for suggesting potential new names Shortpays for the Committee. The Committee REO’s would like to congratulation Camelia Vera, Coldwell Banker George Realty for Exchanges her winning suggestion of “International ResidentialReal Estate Committee”. Camelia won a and webcam for her computer. Loans


“Top 10 Tips for Short Sales” Source: C.A.R.

As a REALTOR® involved in short sales, you need to be at the top of your game. These transactions may take a lot of blood, sweat and tears, and if things don’t pan out, that might translate into a huge waste of time and effort. Use these tips to help stack the odds in your favor along the way: 1. Pre-Screen Your Listings. Before taking a short sale listing, carefully consider the likelihood that the transaction will close escrow successfully. How much of a shortfall will the lender need to approve? What’s the nature of the seller’s hardship? How much time do you have until the homeowner goes to foreclosure?  How many liens does the property have?    2. Consider the Consequences. Make sure the seller comes to terms with the possible consequences of a short sale.  Have they explored alternatives like refinancing and loan modification?  There may be significant tax, credit, personal liability, or other concerns to consider, so encourage the homeowner to seek advice from an attorney, accountant, or other appropriate professional.  If you’re involved in a long, arduous short sale process, the last thing you want to hear is the seller deciding to file bankruptcy midway through the transaction in order to avoid tax liabilities.    3. Do Your Research. Check your local MLS rules and regulations to make sure you properly enter the short sale listing into the MLS.  Get as much information as you can from public records, neighborhood comps, title searches, and other sources to determine the likelihood your short sale will succeed. If the property is in default, it’s a good idea to monitor the process and make sure the seller doesn’t lose the property to the bank before close of escrow.  Remember, short sale negotiations with a lender do not automatically stop the foreclosure process.  4. Use C.A.R.’s Free Tools. C.A.R. offers many standard forms, articles, and other free tools to help REALTORS® with short sale transactions. Complete and attach a Short Sale Information Advisory (SSIA) form to your listing agreement and C.A.R.’s Short Sale Addendum (SSA) to the sales agreement. Provide the buyer with a copy of the SSIA, as it has useful consumer information about the process. Download C.A.R. short sales articles and pass them on to your clients, but be sure to keep their acknowledgment of receipt in your files.  5. Submit a Complete Package. The quality of your short sale package might just make or break lender approval.  Typical short sale packages include a hardship letter, financial statements, paycheck stubs, tax returns, neighborhood comps, property conditions (including repair estimates and pictures), estimated HUD-1 Settlement Statement, listing and sales agreements, and C.A.R.’s Authorization to Release and Convey Information (ARC) standard form.  The lender may also ask you to show that the listing has been actively marketed, and that you have aggressively negotiated for the best possible price and terms, so be prepared.    6. Be Proactive. Successful short sale agents often attribute their success to personal tenacity and perseverance. Start the short sale approval process as soon as you can and monitor the progress frequently. Ask questions. Carefully document your conversations with the short sale lender.  Your resourcefulness and determination will certainly come in handy on short sale transactions.     7. Watch Out For Multiples. A transaction that requires only one lender approval is usually much less problematic than one that involves multiple-party approvals.  If the property has more than one lien, make sure to submit a short sale request to ALL the lienholders and creditors as soon as possible.      8. Do the Math. Check to make sure there will be enough money to go around. Take into account that the ultimate sales price may be less than the initial listing price.  Make sure all transaction costs are included in the estimated HUD-1 Settlement Statement, such as buyer-required repairs, smoke detectors, water heater bracing, property taxes, HOA dues, and moving allowance for the seller if appropriate. And encourage your client to have a back-up plan in place in case the lender doesn’t approve these expenditures.   9. Steer Clear of Loan Fraud. You may know things that the short sale lender doesn’t know, so when in doubt, disclose.  You and your client don’t want to risk committing loan fraud, which includes anyone who knowingly makes a false statement for the purpose of influencing a federally-insured mortgage lender. The punishment can be steep, including a 30-year prison sentence and a $1 million fine.     10. Beware of Unlicensed Negotiators.   An unlicensed person who practices real estate is committing a crime.  And if you pay that person for conducting licensed activity, you too may be committing a crime, so stay away from unlicensed or unscrupulous short sale negotiators.  Arcadia REALTOR® Magazine

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

Broker Price Opinion Resource (BPOR) Certification THURSDAY, JUNE 14, 2012

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Arcadia REALTOR Magazine - June 2012