Arcadia REALTOR Magazine - March/April 2015

REALTOR®

OFFICIAL PUBLICATION OF THE ARCADIA ASSOCIATION OF REALTORS®

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

Annual Lunar New Year Celebration

See page 10

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ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

MARCH/APRIL 2015 · ARCADIA REALTOR®

REALTOR® 2015 ASSOCIATION OFFICERS Joseph Pacilio 2015 PRESIDENT Roy Blume PRESIDENT-ELECT Kelvin Chang VICE-PRESIDENT Sylvia Ramos SECRETARY/TREASURER BOARD OF DIRECTORS Ryan Asao Andy Bencosme Julie Bencosme Margaret Garemore Fred Madjar Mark Ramos David Scarminach Irene Truong Mike Vachani

C.A.R. DIRECTORS Ryan Asao Andy Bencosme Roy Blume Margaret Garemore Joseph Pacilio Sylvia Ramos Randall Traw Mike Vachani Kelvin Wong

ASSOCIATION STAFF

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 Membership & Professional Standards Brenda@TheAAR.com Jamie Hu Ext. 309 Director of MLS Data Violations Jamie.Hu@TheAAR.com Stephanie Maertens Ext. 303 Director of Education & Commercial Real Estate Stephanie@TheAAR.com Jane Shriver Ext. 301 Director of Association Services Jane@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

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

ARCADIA REALTOR® · MARCH/APRIL 2015

FROM THE CEO’S DESK The Business of Business is People

Did you know there are 128 local Realtor® Associations in CA? So what sets one Realtor® Association apart from another? For that matter, what sets any business apart from another? It’s easy to point to differences like membership pricing, policies, procedures, educational offerings or structure. But if you laser-focus in on the single most important difference, it’s people.

I firmly believe that the Arcadia Association of Realtors® has a proven track record unlike any other Realtor® Association.

We’ve enjoyed significant membership growth over the years - far out-pacing other Associations, we’ve delivered a huge amount of world-class professional development classes to improve your business, we’ve been recognized 3 times in 2 years by the National Association of Realtors® for our continued innovation and leadership in Commercial and Global real estate and we’ve been recognized locally for our community and charitable contributions. I mention these accolades to emphatically point out that it’s our people who made them happen. None of these accomplishments would be possible if we didn’t have the absolute best people including our committee members, our committee chairpersons, our Board of Directors and of course our dedicated staff all who pour their heart and souls into their respective volunteerism and job responsibilities.

The people-centric culture at the AAR is one of our most valuable and cherished assets. I think we consider ourselves like a huge family and as with every family we usually get along famously and other times there might be a small struggle. But I wouldn’t have it any other way because it’s overcoming those struggles that bond and unite us even more. For our volunteer family and staff members, it’s deeply important to them to provide the best possible membership experience for our extended 2,100+ member family. I see their efforts every day and I sincerely hope you, as a member, experience that sense of caring as well.

Herb Kelleher, the co-founder and Chairman Emeritus of Southwest Airlines once said, “The business of business is people” and I couldn’t agree more. On behalf of all our volunteer members, Board of Directors and staff, we all thank you for being our valued members and for allowing us to share our people culture with you.

Wishing you continued Success,

Andrew Cooper Chief Executive Officer

MARCH/APRIL 2015 | VOLUME 19 | NUMBER 2

Contents 10

Regular Features 2

From the CEO’s Desk

4

Market Matters

5

Attorney Comments

6

Through the Lens

9

Affiliate Corner

Andrew Cooper, Chief Executive Officer

Market Statistics for the San Gabriel Valley

Dave Freeman, AAR Legal Counsel

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On the Cover 10 Annual Lunar New Year Celebration!

A recap of the recent AAR Lunar New Year Celebration held at our Weekly MLS Marketing Meeting

Additional Content 12 AAR New REALTOR® Members The AAR welcomes its newest REALTOR® Members of 2015 13 Closing Gifts Open the Door to Repeat Business Successful REALTORS® know that closing the transaction is only the beginning

A Look at What’s Happening Around the AAR

“Solar Access - A Potential Problem” Marcus D. Jacques, Western Resources Title MARCH/APRIL 2015 · ARCADIA REALTOR®

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Market Matters Market Statistics for the San Gabriel Valley - January 2015

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

Single Family Homes

Condominiums

Sales of Price Price % Single Family Median SFR Chg from Homes ($1,000) Jan. 2014

Price Median Condo ($1,000)

17 13 9 4 9 14 15 23 8 4 6 15 21

$1,138 $1,200 $420 $400 $395 $475 $650 $575 $832 $533 $2,050 $922 $745

-18.8% -31.4% 29.1% 2.6% 3.5% 13.1% 4.5% 14.4% 26.0% -1.4% -0.5% 8.3% 4.2%

Sales Count Condos

3 5 5 1 7 1 1 6 n/a 5 n/a n/a 7

SFR Only

Price & Median Chg from Home Price/ Jan. 2014 Sq. Ft.

$920 $508 $315 $292 $445 $287 $384 $408 n/a $500 n/a n/a $663

111.5% -7.3% -4.3% 13.7% 15.7% -5.1% -60.6% -3.6% n/a 9.9% n/a n/a 86.4%

$548 $609 $377 $250 $302 $319 $366 $410 $435 $435 $810 $505 $498

Market Statistics for the San Gabriel Valley - February 2015 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) Feb. 2014

11 13 16 4 10 9 12 13 6 9 11 6 11

ARCADIA REALTOR庐 路 MARCH/APRIL 2015

$1,137 $1,618 $399 $378 $330 $503 $672 $465 $752 $580 $2,265 $643 $696

36.9% 15.5% 4.2% 2.2% -13.2% 19.8% 18.9% -9.9% 3.5% 8.7% 13.3% -18.9% 6.3%

Sales Count Condos

3 9 4 n/a 5 3 n/a 9 n/a 3 n/a 4 4

Price Median Condo ($1,000)

$675 $533 $340 n/a $433 $315 n/a $423 n/a $480 n/a $514 $595

SFR Only

Price & Median Chg from Home Price/ Feb. 2014 Sq. Ft.

55.5% 14.9% 24.4% n/a -1.1% -2.5% n/a 17.5% n/a 14.3% n/a 13.0% 56.8%

$484 $745 $356 $219 $302 $311 $318 $383 $500 $391 $863 $491 $417

Source: DQNews.com

Attorney Comments

By Dave Freeman, Association Counsel

Title - UCC 1

When representing the purchaser in a transaction, strongly encourage them to carefully review the title report early in the transaction, and to get help with any questions.

Occasionally, a lien will show up resulting from a UCC 1 filing. When a party loans, using non-real estate business property or equipment as collateral, they can file a document with the Secretary of State called a UCC 1. This operates as a lien on the property listed, and can be recorded, thereby creating constructive notice of the lien. If purchasing the real property on which the UCC 1 lien has been recorded, be sure it is removed through the escrow process, and title insurance is clear.

When the property is purchased at foreclosure, which is being foreclosed upon by a senior lien, the UCC 1 is wiped out by the foreclosure. But beware, some collection companies will still attempt to collect by threats and even lawsuits.

Multi-Party Sales

When representing buyers or sellers in a transaction, check title at your initial involvement. You must know who is on title and get each person’s signature on all documents.

Otherwise you may find yourself halfway through a transaction and

no way to close, with angry, lawsuitthreatening clients.

This includes listings, sales, leases and options, as well as any escrow documents.

In divorce situations this element becomes even more important, as one party may not be willing, or may decide to spite the other party at a crucial time, if you don’t have their signature.

Loans can be even more problematic, if, for instance, you can’t close the escrow, and loan payments are coming due that require both parties to make the payment, and only one is willing to pay.

Co-Signers - Credit

Never suggest that your clients co-sign for other parties’ credit.

Although in some instances it may be necessary and the only way some parties, particularly younger people and people with credit problems can purchase property. However, those same parties are frequently the ones who will fail to meet their credit obligations and payment obligations on the property purchased with the borrowed credit. AS a result, the party who co-signed for the purchaser will then have their credit damaged, AND HAVE NO SOLUTION!

Once on the loan, whether as

a borrower, co-borrower or guarantor, there is no way off the loan other than by paying off the full amount of the loan. It doesn’t just damage one’s credit. The lender can foreclose or, in the case of non-real estate secured loans, sue the co-signer for the full amount owed, and after judgment record a lien against the co-signer and any property they own or buy in the future.

Since I last wrote about this subject, I have seen it come up in:

DIVORCES: Where the husband or wife, who retains the right to live in the property, fails to make the mortgage payments, as agreed, and the out of possession party has no solution other than to make the payments, go back to court, or allow their credit to be destroyed.

PARENTS CO-SIGNING FOR THEIR CHILDREN TO BUY A HOME: Children are frequently less responsible than their parents think they will be. An Unproven track record is a dangerous place to risk your hard earned credit rating, which will not easily be restored in the near future.

Therefore, allow your clients to decide this issue on their own, with, possibly, a few cautionary words of advice.

MARCH/APRIL 2015 · ARCADIA REALTOR®

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through the lens

A Look at What’s Happening Around the AAR

Instructor, M

Dave Freeman AAR Attorney,

AAR President, Joe Pacilio; LGR Vice-Chair Cecil Griffin & Affiliate Scott Shimamoto

ichael Simp son

ate, Mary AAR Affili

n Keshishia

Lunar New Year Celebration

airman, Cheryl Housing Opp. Ch aff Jane Shriver R st Johnson w/ AA

Sierra Madre Wistaria Festival 6

ARCADIA REALTOR® · MARCH/APRIL 2015

Housing Opp. Chairman, Chery President Joe Pacilio & An l Johnson; AAR thony Portantino

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ARCADIA REALTOR庐 路 JANUARY/FEBRUARY 2015 JANUARY/FEBRUARY 2015 路 ARCADIA REALTOR庐

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ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

AFFILIATE Corner “Solar Access - A Potential Problem”

Interest in solar energy is growing as more and more homeowners, as well as businesses, are taking long, serious looks at this alternative source of power. As with any new technology, however, there are potential problems. For example, the sun’s rays must reach the solar collectors in order to produce energy from either active or passive systems. If the sun were always directly overhead there would be no problem. It is not, of course, and this brings up the question of solar access -- the availability of sunlight to reach a building’s solar collectors. Resolution of this problem often involves access across adjacent properties, which, in turn, involves a neighbor’s air space.

Since the amount of unobstructed sunlight reaching the solar collectors is critical to the efficient operation of a solar system, the flow of sunlight to the system must be assured.

In most systems it takes about six hours of direct sunlight per day for maximum equipment efficiency. This varies, naturally, according to the season, geographic location and the type of solar system installed.

For the building owner, access questions involve both the height and setback of adjacent buildings. That’s where negotiated agreements for solar easements come into sharp focus.

If a neighbor’s trees grow high enough to cut off the sun early in the morning or late afternoon, your solar system may not perform up to design specifications. The same thing goes for structural heights.

That’s why the question of guaranteeing access to sunlight is becoming an important part of property ownership. In fact, it has been called the single most difficult legal issue connected with solar energy use.

The most practical solution to the problem is the negotiation of easements between property owners. Under such an agreement, one property owner would receive assurances from the other that the sunlight which travels over the neighbor’s property would always be available. The neighbor, and all subsequent owners, would be restricted in building or planting trees which could obstruct the sunlight.

After agreement, if such solar easements are not

By Marcus D. Jacques, Western Resources Title properly recorded, problems could arise if the property is subsequently sold and the new owners are either unaware of the easement or not in agreement with its conditions.

Solar easements may have to be negotiated with several different neighbors to assure adequate access to the sun throughout the year. Such easements could negatively affect the future property values of those neighbors.

California was one of the first states to enact legislation to guide the establishment of solar easements.

The California Solar Rights Act of 1978 was passed to promote and encourage the “widespread use of solar energy systems and to protect and facilitate adequate access to the sunlight which is necessary to operate solar energy systems.”

This statute prohibits any covenant, condition or restriction which prohibits or restricts the installation or use of a solar energy system.

A solar easement establishes certain land use conditions agreed to by the property owners involved. Such an agreement includes (1) a description of the dimensions of the easement, including vertical and horizontal angles measured in the degrees or the hours of the day, on specified dates, during which direct sunlight to a specified surface or structural design feature may not be obstructed; (2) restrictions placed upon vegetation, structures and other objects which would impair or obstruct the passage of sunlight through the easement, and; (3) the terms and conditions, if any, under which the easement may be revised or terminated.

It is important, of course, that all solar easements be officially recorded, just as other uses and conditions are included in public records. Otherwise, such an easement might not be noted during the title search at the time of a real estate sale.

Such an omission could create serious problems at a later date when the new owners decide to make structural or landscape changes that would affect the path of sunlight across their property.

Marcus D. Jacques, Western Resources Title. For more information, contact Marcus at: 714-588-7572 or mjacques@westernresourcestitle.com MARCH/APRIL 2015 · ARCADIA REALTOR®

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Arcadia Association of REALTORS®

Annual Lunar New Year Celebration!

- Wednesday, February 18, 2015

2015 AAR President, Joe Pacilio

Hand written Chinese calligraphy of the word 福 meaning “good luck” or “fortune” was passed out, as well as door couplets with good wishes.

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ARCADIA REALTOR® · MARCH/APRIL 2015

The Arcadia Association of REALTORS® recently had its Annual Lunar New Year Celebration on Wednesday, February 18, 2015 at the Association’s Weekly MLS Marketing Meeting Caravan. More than 200 local Realtors® and Affiliates participated in this year’s festivities. The Arcadia Masonic Center was decorated with New Year inspired items and delicious snacks such as egg tarts and nut bars were served. The highlight of Caravan was the Lion dance; this bought many cheers and smiles among the members.

MARCH/APRIL 2015 · ARCADIA REALTOR®

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Welcome, New Members!

NEW REALTORS速 FEBRUARY 2015 John A. Balentine, Century 21 Village Realty; Chin S. Chen, Highland Real Estate; JuanJuan Chen, Highland Real Estate; Shirley Chen, Highland Real Estate; Tate J. Chen, HomeSmart Realty; Garen C. Cheung, Coldwell Banker George; Yandy Chew, Resource Real Estate Services; Pedro Garcia, Goldline Realty; Anthony A. Granados, Keller Williams W. Foothills Alex Hernandez, Urban Link Realty; Xinyi Huang, Keller Williams Realty; Pui K. Hung, Pui Hung, BROKER;

Charles M. Kuan, Masters Realty; Andy Lee, Treeline Realty & Investment; Sally W. Lee, Long Dragon Realty Group, Inc.; Ye Lei, IRN Realty; Xiuli Li, GIE Realty; Wu Lin, Grandmark Realty Inc.; Lyheng Lov, IRN Realty; Jing Ma, Highland Realty Estate; Yanira Mendez, Urban Link Realty; Vivian Ng, Kingston Realty; Yinan Qin, Highland Real Estate; Mitchell Rattanavipapong, Louie Properties Inc.;

Steven E. Rey, Coldwell Banker Arcadia; Tien H. Tao, Coldwell Banker Dynasty Arcadia; Anthony D. Vallego, Podley Properties; Kai Wang, Highland Real Estate; Shuda Wu, Highland Real Estate; Jenny Xu, Coldwell Banker George; XiaoFeng Xu, Highland Real Estate; Yanhua Yang, HomeSmart Realty; Fan Min Frank Yin, IRN Realty; Fan Yin, Highland Real Estate; Hui Zhang, Highland Real Estate; Viviana Zhang, Highland Real Estate

NEW REALTORS速 MARCH 2015 William R. Adams, Century 21 Ludecke Inc.; Rick W. Cheng, Coldwell Banker George; Vivienne Chiang, Keller Williams West Foothills; David H. Chin, Coldwell Banker Dynasty T.C.; Michael P. Cho, IRN Realty; Deborah Converse, Century 21 Adams & Barnes; Cynthia Czechji, Keller Williams Realty; Kenneth Gant, Century 21 Village Realty; Christine Ho, Castlewood Corporation; Crystal C. Huang, Keller Williams Realty; Fang Ji, Long Dragon Realty Group, Inc.; Charles R. Johnson, K&M Realty; Tao Li, Supreme Investment Corp.;

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Evan H. Lieb, Estevan Chantes, BROKER; Haipeng Liu, Champion Character Inc.; Herman Lu, Coldwell Banker Dynasty Arcadia; Jian C. Lu, Long Dragon Realty Group, Inc.; Wendy N. Maeda, Keller Williams West Foothills; David J. Monroe, Dilbeck Real Estate; Noel Palomaria, Keller Williams Realty; Fang Peng, Coldwell Banker George; Jessica Y. Rong, Highland Real Estate; Yuzhen Shi, Highland Real Estate; Wei Song, Castlewood Corporation; Jeffrey H. Teng, Coldwell Banker New Century; Karen Wanshaffe, Keller Williams West Foothills;

ARCADIA REALTOR速 揃 MARCH/APRIL 2015

Gary G. Wat, Re/Max Omega; Garrett L. White, Highland Real Estate; Paul White, Coldwell Banker Dynasty T.C.; Sujian Wu, Highland Real Estate; Joyce L. Yee, IRN Realty; Sandra C. Yee, Kingston Realty; Sheau Y. Yeoh, Long Dragon Realty Group, Inc.; Hueyru Yiin, Highland Real Estate; Sarah Yin, Highland Real Estate; Zhou M. Yu, Highland Real Estate; Jodie Zappanti, Real Estate Alliance; Qingwei Zhang, RE/MAX 1000 Realty; Min Zheng, IRN Realty

Closing Gifts Open the Door to Repeat Business The contract has been signed; the keys lie on an end table and your happy client sits in his or her new dream home. But successful REALTORS® know that closing the transaction is only the beginning of this long-term relationship.

REALTORS’® businesses thrive on the referrals and repeat business they can earn by keeping their name at the forefront of their satisfied clients’ minds.

Though the chief purpose of a gift, whether it’s for a closing, holiday, or birthday, is a heartfelt acknowledgement of appreciation, gifts can also serve multiple other purposes to help you build your business. A creative closing gift can deliver marketing to help keep your name memorable, as well as a source for lead generation, and referrals.

When considering a gift for each individual buyer, keep in mind how well you know the client. For example, you might not want to gift wine or liquor unless you know it will be well received.

So what makes a noteworthy closing gift? According to REALTORS®, the size of the gift doesn’t necessarily matter. In this case it is truly the thought that counts.

Read on for some thoughtful ways to let your clients know they can count on you.

Gifts that keep on Giving. What better way to keep your name top of mind than to give a gift that

will remind your client every month of the great job you did for them? You might consider a “fruit of the month” club, or a home décor magazine. Magazines, especially those focused on home-related topics, are a terrific option that will give the new homeowner fresh, seasonal ideas throughout the year. Some even come personalized with a “customized” wrap that includes your contact information and a brief message. Refresh that contact all year long by arriving in their mailbox every month.

A Home Warranty. Want to make sure your valued clients won‘t need to finance costly home repairs

in their first year of home ownership? Consider adding a home warranty to their purchase. This can ease a buyer’s mind about any unexpected, pricey repairs that might be required for major systems or appliances. A home warranty can give your client the gift of “peace of mind” while keeping you top-of-mind throughout the length of the warranty.

Home Improvement. Yes, your client has found their dream house, but there may be

a few ways to make it feel even more like “home.” Maybe they could use a potted plant for the back patio, a hammock or swing for a covered porch, or a cheery new welcome mat at the front door.

Or what about something practical? Consider a basket filled with everyday items that new homeowners need: scissors, tape, cleaning wipes, batteries, all the sundries that are so welcome during a move. You can even circle back around and offer them a “refill” at the holidays with wrapping paper, bows, or a special house-themed ornament - something that will help them remember you even after they are comfortably settled in their home.

Another option that most new homeowners may find handy is to fill a big plastic paint bucket with tools and other items that can make home repairs a little easier. A hammer, screwdriver, and some nails and screws are must-haves for every move. Consider a subtle logo or branding on the bucket to help them remember you anytime they reach for it.

Source: CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) 13

ARCADIA REALTOR® · JANUARY/FEBRUARY 2015 MARCH/APRIL 2015 · ARCADIA REALTOR®

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

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