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J U N E A/ PJRUILLY / 2 M 01 A Y2 2 0 1 2

I NSID E We Tackle The Hottest

Legislative Issues Just the Facts

Survey Results

Vali Nemetz

Wins Top Honor 30 Under 30

Surviving REOs

Blood, Sweat & Tears

REALTORS® in the

Public Eye Living the Life

We’re Champions of Home. H O M E O W N E R S H I P

I S

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Of A Mobile Agent Alan Perez

D R E A M


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CONTENTS BAKERSFIELD REALTOR ® MAGAZINE

6

The Hottest Legislative Topics REALTORS® tackle tough issues

9 14

Recognizing our 2012 PAC Contributors

16

The Facts - We Asked. You Answered. Results from the 2012 member survey

REO Related Sharp Practices Turn left or turn right?

18 20

Happy Days for Members Photo Snapshots Take Me Out to the Ball Game snapshots from the Softball Tournament & Picnic - Can you say YPN grand slam?

23

Vali Nemetz, YPN recognized as 30 Under 30 by REALTOR® Magazine

24

Man-Made: Vessels by California Craftsmen see the artistry

26 28 29

Market Statistics - the facts you want to know

30 32

Graduate REALTOR® Institute: Success Stories, classes begin in July Surviving REOs Blood, Sweat and Tears Promoting the REALTOR® brand and homeownership.

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Bakersfield Association of REALTORS® 4800 Stockdale Highway, Suite 100, Bakersfield, CA 93309 P. 661-635-2300 F. 661-635-2317 www.bakersfieldrealtor.org www.bakersfieldrealtor.com facebook.com/bakersfieldrealtors twitter.com/bakorealtors

IT’ S TH E


LETTER FROM THE PRESIDENT

Charity, Legislation and Homeownership

I

am writing at a hotel desk in Washington, D.C., while attending NAR Legislative Mid-year Meetings. Before I write about this meeting, I want to recognize the YPN Softball Tournament. It was a huge effort as well as a huge success. The day began with members of the committee hard at work setting up booths, sponsor signage and ticket sales. Curtis Trigueiro (Ridge Route Boys BBQ) also arrived early to begin cooking the best hotdogs one can possibly eat. Yes, even better than Dodger Dogs….. and coming from me, that says a lot. Eight teams competed for the tournament trophy through elimination. The final game of the series was between Coldwell Banker and Miramar International for the championship - Miramar being the winner. Part of the fun, I must admit, was at my expense sitting on the seat of the dunk tank. Many of my friends and colleagues became incredibly accurate, and I was dunked no less than ten times before I surrendered my seat to Angie Trigueiro. All in all, it was a wonderful day, and near as I could tell, everyone had a good time. The net proceeds from the event were given to the Jeremy Staat Foundation - over $5,000. The month of May took me to Sacramento for Legislative Day and our annual CAR meetings. The hot issue at the State Capital was Assembly Bill 1745. This bill attempts to prohibit lenders from recording a notice of sale and proceeding with foreclosure, if they have an approved written short sale on

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BAKERSFIELD REALTOR® MAGAZINE

the same property. The day after we met with our State Senators, Jean Fuller and Michael Rubio, and our Assembly Representatives, Shannon Grove and David Valadao, the bill passed on the Assembly Floor and will be sent to the Senate for approval. It is amazing to watch the strength of our combined efforts through CAR. Perhaps the most inspiring REALTOR® event is the trip to Washington, D.C. We had an opportunity to visit the Capitol and meet with Congressman Kevin McCarthy to discuss issues that are currently affecting our real estate market. Most notably, is our shortage of inventory and over-regulated appraisal and underwriting guidelines. We also discussed our concerns over broader issues that affect housing on a national level.

I want to recognize the YPN Softball Tournament …part of the fun, I must admit, was at my expense sitting on the seat of the dunk tank.

Issues such as mortgage interest deduction and the extension of no taxation of debt forgiveness on short sales and foreclosures, are vital to our fragile housing market and economy and must be protected. As Congress continues to look at possible tax increases and budget cuts, these issues could become huge targets. The day after meeting with Congressman McCarthy, our group, Executive Officer, Linda Jay; Government Affairs Director, Donna Carpenter; NAR representative, Jeanne Radsick; and I joined 13,000 other REALTORS® at the Washington Monument for a rally. The message was “Keep the dream of homeownership alive.” We wanted to send a strong message to Congress and the President: The fabric of our economy is built around housing and the fabric of our country is built around homeownership. I came away from that experience with two thoughts. One, the ability of our REALTOR® members to help people find the homeownership dream is compromised with the current market environment in which we work. Second, while it is challenging for us as REALTORS®, it is extremely challenging for those trying to buy a home. It is my job and the job of our local, state and national Associations to find ways to improve our housing market. It won’t happen overnight, even though we wish it would. In the meantime, it is each member’s responsibility to work with our clients to help them find their piece of the American Dream.


LETTER FROM THE CEO

O

n Monday May 9, 2005, I boarded a plane with a group of colleagues as we headed for Washington, D.C. to meet with our Federal Legislators and attend our National Association of REALTORS® Mid Year Meetings. It was my very first day on the job as Association Executive for the Bakersfield Association of REALTORS®. I obtained my real estate license in 1990 and had worked as a sales associate and broker designee for a national franchise for many years, but this was my first experience as an Executive Officer. As I boarded the plane, our then president, Jim Knapp, handed me a 49-page strategic plan document with the charge to begin implementation of the plan upon our return. It was a daunting task, but one that would start our Association on an amazing journey. Recently, while returning from our 2012 Legislative Meetings in D.C., I was reading an article on adding value by Daniel Decker and began reflecting

2012 OFFICERS President Scott Tobias Prudential Tobias, REALTORS® President-Elect David Knoeb Frontier Real Estate Services

Vice President Theresa Olson RE/MAX Magic Secretary/Treasurer Sheri Anthes Coldwell Banker Preferred - Ming

upon our continuing journey. I would like to share some lessons I have learned. n Staying relevant is vital to the success of an organization. It has been said that if you want to be valued, you must add value. Our Association has enjoyed a great deal of success for over 106 years, and I believe that is attributed to our commitment to continue finding ways to add value for our members as well as the community. n There are no free lunches and no one owes us anything. The moment you start thinking you deserve success or are entitled to respect, is the moment you being to lose. n Just because you have been doing something for years, doesn’t mean it is guaranteed to get the same results today or in the future. n Just because we have something to say, doesn’t always mean others should listen. Actions DO speak louder than words! It’s important to

Immediate Past President Angie Trigueiro Titan Real Estate Chief Executive Officer Linda Jay

walk the talk. . . leading by example. n Value is earned and is ongoing and is created by giving, by taking initiative and being proactive … consistently. It’s … n Showing up a little earlier n Looking for ways to help, without being asked to do so n Helping someone else, without always expecting them to do something in return n Caring about others enough to respond n Serving simply because it’s the right thing to do n Understanding the needs of others and helping them with a solution n Promoting that other guy’s stuff instead of first expecting him to promote yours n Recognizing that it’s Not About Me! As an Association and as REALTOR® professionals, we have so much to offer and can make a dramatic difference in the lives of others! Let it begin today. . . and let it begin with me!

2012 DIRECTORS Lezlie Chaffin Premier Realty Athena Collup Watson Realty ERA Wayland Louie RE/MAX Golden Empire

Robert Malkin Watson Realty ERA Pam Epps EPCO & Associates John Garone, Jr. Coldwell Banker Preferred - Westwind Bradley Reese, Jr. Miramar International

BAKERSFIELD REALTOR® MAGAZINE

5


CAR ISSUES Foreclosure Procedure Reform – OPPOSE CAR is OPPOSING several bills introduced as a package and sponsored by the state Attorney General. There are only bill numbers for some of these measures because the authors and sponsors are “hijacking” new bills in order to bypass further committee hearings. CAR 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. CAR agrees that careful and balanced reforms to the foreclosure process are necessary. However, CAR opposes these measures because they will further delay the housing recovery by: creating a disincentive for lenders to lend money; increasing the cost of loans; and allowing strategic defaulters and investors to abuse the foreclosure process. CAR does not oppose the entire package, but these provisions will damage the real estate market and delay recovery.

WHY CAR IS OPPOSING THESE PROVISIONS The housing market recovery is still fragile. Half of all sales are of distressed properties. By excessively limiting a lender’s ability to foreclose, these bills will dry up inventory and further discourage lending other than to the most highly qualified borrowers. Additionally, these bills will artificially slow down the foreclosure process, keeping properties off the market that are legitimately in foreclosure. Finally, by removing the threat of foreclosure, the bill erodes the incentive for short sales as well. The bills will encourage the use of judicial foreclosure. Non-judicial

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FORECLOSURE PROCEDURE REFORM

THE HOTTEST

LEGISLATIVE

TOPICS REALTORS

®

TACKLE THE TOUGH ISSUES

foreclosure is quicker, less expensive and better for the consumer because it doesn’t increase their financial exposure by making them liable for any deficiency on the loan. Additionally, California’s courts are already overwhelmed. By increasingly

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pushing lenders toward the use of judicial foreclosures, these measures will increase the burdens on an already beleaguered court system. If we are going to codify federal law, we should codify the federal safeguards too. In the case of AB 2610 and SB 1473, they will protect questionable or fraudulent leases as if they were legitimate – FOREVER! Only bona fide (legitimate) tenancies should be protected, and the law should contain a sunset (like the federal law does) to guarantee a subsequent review. CURRENT STATUS Senate and Assembly Conference Committee

ACTION ITEM Please ask your Assembly Members and Senators to OPPOSE the following proposals: n Forced certification of chain of mortgage ownership n Imposition of civil penalties for recording a broadly defined “robosigned” document, and n A permanent 90-day notice to vacate foreclosed properties. CAR is SPONSORING AB 1745 (Torres) to 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. CAR IS SPONSORING AB 1745 BECAUSE: Short sales are better than foreclosures. Having a home sold through a short sale rather than seized through foreclosure is less destructive to a borrower’s credit, doesn’t expose them to additional liability for the deficiency, is less expensive for lenders, and less damaging to communities where a bank-owned property may sit vacant for months. A foreclosure not only damages an individual’s credit for many years, but may even affect their ability to secure employment now that employers are researching applicants’ credit. It’s only fair. Often, a buyer and

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ACTIONS NEEDED

seller have waited weeks or months for a response to a short sale offer. If a lender has already approved a short sale, it is only fair, both to the current homeowner and the buyer, to allow for the transaction to take place.

Pass H.R. 1418 and S. 2231. Credit unions can fill in the commercial real estate lending gap, and help get capital to the struggling small businesses that occupy commercial space. n Pass H.R. 940 and S. 1835 to create a U.S. covered bond market, which would complement the fragile commercial mortgagebacked securities (CMBS) market by providing an additional new source of capital for the commercial real estate industry. n

Short sales give borrowers the opportunity to start over. Many recent foreclosures are due to unforeseen circumstances, a job loss or medical emergency. If at all possible, these families should have the opportunity to start over. CURRENT STATUS AB 1745 is in the Assembly.

REAUTHORIZE THE NATIONAL FLOOD INSURANCE PROGRAM (NFIP)

ACTION ITEM Please ask your Assembly Members and Senators to vote YES on AB 1745.

NAR ISSUES

PROTECT HOMEOWNERSHIP TAX BENEFITS Congress must do no harm. The housing market, while improving, is not yet stabilized. More than 20% of all homeowners owe more on their mortgages than the home’s current fair market value. The most urgent need is an extension of the tax relief provided in 2007 assuring that individuals in the process of foreclosure, short sales or loan modifications will pay no income tax on forgiven mortgage debt.

ACTIONS NEEDED House members should cosponsor H.R. 4336 or H.R. 4323 if they have not yet done so. n Senators should cosponsor S. 2250. More time is needed to restore equilibrium in the market. The extension should be enacted as quickly as possible. n

SECURE THE FUTURE OF HOMEOWNERSHIP Congress needs to take action to improve the short sales process, support the independence and integrity of appraisals, enact comprehensive reform of the governmentsponsored enterprises (Fannie Mae and Freddie Mac), and have regulators establish Qualified Residential Mortgage (QRM) and Qualified Mortgage (QM) rules that allow reasonable access to credit for home buying consumers.

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ACTIONS NEEDED Thank your House members for voting for H.R. 1309. Ask your House member to urge the Senate to pass a 5-year flood insurance reauthorization bill before the current temporary extension of the current flood bill expires on May 31. n Urge your Senator to take up and approve a 5-year reauthorization measure and end the uncertainty of extensions and shutdowns. n Urge House-Senate conferees to act quickly once a Senate bill is passed. n Do not let a vital program lapse again or hold it hostage to extensions of other federal programs. n

ACTIONS NEEDED Reform of the secondary mortgage market should be comprehensive. The federal government must have a continued key role in the secondary mortgage market in order to ensure that there is capital for mortgage lending in all mortgage markets and under all market conditions. n NAR would like a hearing on H.R. 1498 (Rooney R-FL; Andrews D-NJ) or S. 2120 (Murkowski R-AK; Brown R-MA; Brown D-OH). This legislation requires servicers to decide whether to approve a short sale within a specified time frame of completion of the short sale request. n Support increased educational standards for appraisers, and support state regulation of ALL appraisers, regardless of their source. n Congress should insist that the Regulators put forth broad QRM and QM rules that maximize access to reasonable and safe credit for borrowers. n

Bolster Commercial Real Estate Lending Congress needs to take action to bolster liquidity in the commercial and multifamily real estate market to avoid stalling our nation’s economic recovery.

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PRESERVE THE MISSION AND PURPOSE OF THE FHA PROGRAM

ACTIONS NEEDED Support H.R. 4264, the “FHA Emergency Fiscal Solvency Act of 2012,” as it was passed out of committee, which balances the need to improve the fiscal solvency of the FHA fund with costs and availability to consumers. n Submit comments to HUD opposing the condominium regulations, and expressing concern that qualified homebuyers are often being shut out of the most affordable homeownership option available. n

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HOMEOWNERSHIP BENEFITS


MEET YOUR 2012 REPRESENTATIVES

CONGRESS

STATE

Kevin McCarthy

David Valadao

Shannon Grove

Jean Fuller

Michael J. Rubio

U.S. Congressman 22nd District Phone: 661- 327-3611 D.C.: 202-225-2915 www.kevinmccarthy.house.gov

Jim Costa

Assemblyman 30th District Phone: 559-585-7170 Sacramento: 916-319-2030 Email: assemblymember.valadao@ assembly.ca.gov

Senator 18 District Phone: 661-323-0443 Sacramento: 916-651-4018 Email: jean.fuller@sen.ca.gov

U.S. Congressman 20 District Phone: 661-869-1620 D.C.: 202-225-3341 Email: www.costa.house.gov

th

th

COUNTY SUPERVISORS

Assemblywoman 32nd District Phone: 661-395-2995 Sacramento: 916-319-2032 Email: assemblymember.grove@ assembly.ca.gov

Senator 16th District Phone: 661-395-2620 Sacramento: 916-651-4016 Email: michael.rubio@sen.ca.gov

CITY REPRESENTATIVES Harvey Hall,

Sue Benham

Phone: 661-868-3680

Mayor Office: 661-326-3770

Second District Supervisor

Fifth District Supervisor

David Couch

Harold Hanson

Phone: 661-868-3660

Phone: 661-868-3690

First District Supervisor

Jon McQuiston

Phone: 661-868-3650

Zack Scrivner

Third District Supervisor

Mike Maggard

Phone: 661-868-3670

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BAKERSFIELD REALTOR速 MAGAZINE

Fourth District Supervisor

Ray Watson Karen Goh

Vice Mayor Councilmember, Ward 4 Office: 661-326-3767

Rudy Salas

Councilmember, Ward 1 Office: 661-326-7839

Councilmember, Ward 2 Office: 661-326-3767 Councilmember, Ward 5 Office: 661-326-3767

Jacquie Sullivan

Rep Councilmember, Ward 6 Office: 661-834-4943


RECOGNIZING OUR

2012 PAC CONTRIBUTORS CAR GOLD

NAR GOLDEN R

CAR GOLDEN R

PRESIDENT CIRCLE

Bakersfield Association

Gail Malouf

$10,000 - $15,000

Jeanne Radsick

LIFETIME INVESTOR

Jeanne Radsick

CONTRIBUTORS

(chartered)

Theresa Olson

California

SILVER BEAR Sheri Anthes David Knoeb

Scott Tobias Angie Trigueiro Linda Jay

Richard Clasen

Jose Gutierrez

Jeff Mowry

J. Steve Urner

of $148 True Cost of Doing Business

Florence Coble

Scott Hanson

Mabel Munoz

Leslie Walters

Terri Meyer Collins

Suzanne Harandi

Joe Newton

Teri Ward

Athena Collup

Stacy Harrison

Dave Nielsen

Terry Waters

Robin Ablin

Daniel Cook

Richard Hartje

Oppy Oppelt

Tammy Watson

Todd Ablin

Jared Cope

Carol Helm

Mary Ortiz

Maria Woods

Anna Albiar

Debra Lynn Craig-Banducci

Mildred Holden

Edward Paine

Pam Zulfa

Russell Allred

Donna Cullip

Roberta Holzman

Maria Pandura

Barbara Apsit-Incardone

Stacey Dale

Gary Hubl

Warren Peterson

CONTRIBUTORS

Jesus Ayala

Brian Dawson

Midge Jimerson

Heather Portillo

Tony Ayon

Timothy Denari

Allison Kitchen

Darren Powers

at a Level Less Than $148

Bruce Barnhard

Rosina Jeppi Dewar

James Knapp

Issam Qassim

Kelly Allison

Kristi Barnhard

Charles Doremus

Garry Kornbau

Bill Redmond

Jasveer Brar

Kara Barton

Louis Duarte

Wayne Kress

Brandon Gene Roberson

Jennifer Chou

Shawn Barton

Felice Durazo

Jean E.C. Laborde

Joe Roberson

Stacy Cox

Bryan Batey

Bonnie Embrey

Linda Lamb

Pam Roberson

Mary Flores

Clinton Bear

Ann Enge

Michael Launer

Deborah Rodriguez

Alexandra Guerrero

Kenneth Beavers

Cynthia Escalante

Helen Lee

Mike Saba

Kristy Hoover

William Beeghly

Robert Fanucchi

Mike Leggett

Nancy Sewell

Martha Johnson

Edward Bierman

Jose Ferman

Wayland Louie

Victoria Shaffer

Rick LeMay

Susan Blanza

Nance Fillmore

John Mackessy

Dan Shanyfelt

Josephine Magat

Steve Brunswick

Valerie Fisher

Robert Malkin

Carrie Shreffler

Kandie Miller

Ampelia Bugarin Davies

Susan Diane Ford

Jagmit Mann

David Simas

David Morales

Sara Burnette

Thomas Ford

Tammi Marchand

Lisa Singleterry

Shelley Murphy

Jon Busby

Michael Aaron Freedman

Jacob Marquez

Sherry Skeels

Tracy Nail

Jeff Bussman

Maryann Froehlich

Joanne Martin

Oscar Smith

Teddy Richert

Donald Bynum

Juan Garcia

Pam McClurg

Michael Soper

Judy Ryder

Gregory Bynum

John Garone

Diana McCombs

Darrell Sparks

Sherre Salcido

Betty Byrom

John Jerome Garone

Steffany McCormick

Derek Sprague

Jeri Schueler

Judy Camp

Sandy Garone

James McEwen

Brian Spurlock

Ronald Sprague

Rhonda Canady

David Gay

Marilyn McIndoe

Frank St. Clair

Michelle Towell

Belinda Capilla

Edith Gibson

Karen McKinzie

Gayle Stewart

Young Trieu

Casey Castillo

Gary Gibson

Stephen McKinzie

Brigitte Strizak

Brian Tuttle

Sam Causey

Perminder Gill

Iman Amy Mestmaker

Ron Sullivan

Lynn Wright

Lezlie Chaffin

Jason Gillies

Beverly Miller

Thomas Teagarden

Betsy Chavez

Jayme Gooding

Judy Miller

Becky Telese

Ann Choung

Fred Goodspeed

Michelle Mills

Darlene Tobias

Kathy Chretien

Lynette Graham

Selma Molina

Lisa Tucker Hood

Reinhard Clasen

Louie Gregorio

Alejandro Mora

Linda Turner BAKERSFIELD REALTOR速 MAGAZINE

9


design for living Homeowners Want to have

More

Kitchen Space

M

BY MELISSA DITTMANN TRACEY, REALTOR® MAGAZINE

ore home owners want more space in their kitchens and are expanding the kitchen’s use for more than just cooking, according to the latest findings from the American Institute of Architects’ quarterly Home Design Trends Survey. The survey, conducted in the fourth quarter of 2011, focused on kitchens and bathrooms. “Kitchens seem to be regaining their function as the home’s ‘nerve center,’” says AIA Chief Economist Kermit Baker. During the housing downturn, kitchen design fell as a

10

priority for home owners, Baker notes. But as the market has picked up, Americans’ interest in kitchens has been renewed. “The last few years have seen kitchens take on new functions with dedicated computer areas and recharging stations,” Baker notes. The kitchen products and features growing the most in popularity, according to the survey of architects, are: 1. Computer area/recharging stations 2. Integration with family space 3. Renewable flooring materials 4. Recycling centers

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BAKERSFIELD REALTOR® MAGAZINE

REASONS FOR BUYING A NEW HOME CAR’s Tips of the Trade Newsletter

5. Adaptability/universal design Home owners are also placing more emphasis on sustainability in choosing products in the kitchen, such as with renewable flooring materials and renewable countertops increasing in popularity. Sustainability is also important in bathrooms, the survey found. One of the biggest growing concerns for home owners in designing bathrooms is finding ways to minimize utility costs. As such, products like LED lighting, dual flush, and water-saving toilets are growing in demand, Baker notes.

Many of your clients may still be considering a foreclosed or short-sale home instead of buying new in order to save some money. But while the up-front cost may be lower on a foreclosure or short sale, buyers may pay in other ways. Here are four reasons for considering the purchase of a new home.

1.

EASY PURCHASE PROCESS. Homebuilders often have new homes available for immediate move-in. Those


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MOST POPULAR

PROJECTS HOMEOWNERS TARGET WITH REMODELING

BY MELISSA DITTMANN TRACEY, REALTOR® MAGAZINE

Kitchens and bathrooms remain the top jobs homeowners are taking on in remodeling projects, according to a new survey by the National Association of Home Builders. The top remodeling projects of homeowners, according to the latest survey of remodelers, are: 1. Bathrooms 2. Kitchens 3. Window/door replacements 4. Whole house remodels 5. Room additions 6. Handyman services

homes may also come with savings and incentives that could make them a good value. Plus, homebuilders typically have preferred lenders who can provide competitive financing rates as well as help your clients close on a home faster than some buyers who purchase a short sale.

2.

QUALITY ASSURANCE. With a new home, there are typically no repairs or surprises. New homes are generally

The report’s finding of the main motivation behind homeowners’ decision to remodel is not too surprising: To repair and replace old components and to upgrade amenities. But more than 20 percent of remodelers surveyed said they’ve been noticing a drop in the number of customers who are remodeling to try to increase their home’s value. The survey is yet another indication that more homeowners are happy staying put–at least for now–and instead are looking at how to enhance what they already have. Nearly half of the remodelers surveyed said they’ve been seeing an increase over the last year in the number of homeowners who are undertaking remodeling projects so they can avoid moving. “Home owners are repurposing spaces and making more efficient use of their home’s square footage,” says NAHB Remodelers Chairman George “Geep” Moore Jr. “Whether it be young families or couples aging in their homes, people want to let their house adapt with their needs as they change over time.” According to Harvard University’s Joint Center for Housing Studies, home remodeling is expected to post its best year this year since 2006. But while home owners want to enhance, they also

protected by warranties from the builder, so your clients may avoid large out-of-pocket expenses from repairs right after purchase. Plus, they’re built to the latest housing codes.

3.

LATEST TECHNOLOGY. New homes are often built with modern conveniences like home automation that the typical resale home may not include. New homes may utilize the latest green building technology, so they can be energy-

want to save. “Before it was curb appeal, showiness and keeping up with the Joneses,” Duo Dickinson, author of Staying Put: Remodel Your House to Get the Home You Want (Taunton Press), told USA Today in a recent article on remodeling trends. But now more home owners want their homes to reflect who they are. “The house is the most direct mirror of your personal values. When people renovate to change their lives, they waste money.” These more “me-centered” remodeling projects may include livening up outdoor spaces, creating “livable kitchens” that are multi-purpose and make the kitchen serve as a room for more than just cooking, and smaller master baths (like removing that luxurious spa tub for a larger shower) Also in saving a buck, more homeowners are looking at doing more of the work themselves. According to a new report from Bank of America, 70 percent of homeowners are taking on home improvement projects that they once hired out in order to cut costs, tackling everything from plumbing to painting.

efficient and save on monthly utility bills.

4.

MANY CHOICES. Homebuilders offer a wide variety of choices that may not exist in the resale market. For instance, there’s a growing demand for homes designed for multi-generational living. This concept can include a completely separate, full private suite in addition to the main home, and is designed specifically for dual living arrangements. BAKERSFIELD REALTOR® MAGAZINE

11


The A Team

Introducing

TERRI MAYS

FERMIN GALVAN

LISA HOOK

RON VEINER

SAM JABUKA

CHEREYL NUNN

MONA CIMENTAL

MIKE GEORGE

SHERYL GALLION

MICHELE COOPER

First American Title Co. 661.808.7612 tmays@firstam.com www.firstamerican title.com

Wells Fargo Home Mortgage 661.664.5300 chereyl.a.nunn@ wellsfargo.com

Tri Kern Home Inspections 661.327.0626 fermin@ tri-kerninspections.com

Property I.D. 661.220.0159 mcimental@ propertyid.com www.propertyid.com

Academy Mortgage 661.301.5472 lisa.hook@ academymortgage.com

Agape Mortgage 661.324.2427 mikegeorge@ agapemtgco.com www.agapemtgco.com

[

Abbys Photography 661.342.4945 rveiner@sbcglobal.net www.abbys photography.com

Ticor Title CA of America 661.342.7802 sgallion@ticortitle.com

FOR MORE INFORMATION

FRANK ABBOT, JR. Abbot Appraisals 661.338.0803 staff@abbot appraisals.net

BARBARA WELLS

San Joaquin Valley Mortgage 661.703.2227 bwells@sjvalleymortgage. com

Contact our Affiliate Chair TERRI MAYS, First American Title Company. 661.808.7612 or tmays@firstam.com

Thank you to all of our April - May Sponsors! Billie Sue Records, Mission Bank n Barbara Wells, San Joaquin Valley Mortgage n

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BAKERSFIELD REALTOR速 MAGAZINE

Janette Ramsey, Personal Express Insurance n Chereyl Nunn, Wells Fargo n

Jabuka Home Inspections 661.664.8629 jabuka@sbcglobal.net

]

Chevron Valley Credit Union 661.900.2358 mcooper@ chevronvalleycu.com

Michele Cooper, Chevron Valley Credit Union n Carrie Williams, McMillin Homes n


NEW MEMBERS TOP PHOTO (L-R): Ana Karen Tarango - Keller Williams Realty, Teresa Perez - Watson Realty ERA, Patricia Cruz - Coldwell Banker Preferred WB, Candis Parke Thomas Watson Realty ERA, Kelli Schoell - Keller Williams Realty, Scott Coleman - Coldwell Banker Preferred WB, Adnan Aezah - Coldwell Banker Preferred WB, Brandon Hightower - Tholco Real Estate Group, Julie Molina - Coldwell Banker Preferred Co, Scott Tobias, Tim Rogers - Coldwell Banker Preferred Ming, Carmen Zuniga - Coldwell Banker Preferred WB, Michelle Vaca - Century 21 Hometown Realty, Emily Gay - Coldwell Banker Preferred WB, Kristin Raymond Gregory D. Bynum & Associates, Joseph Ruiz - RE/MAX Magic BOTTOM PHOTO (L-R): Valerie Saldana - Keller Williams Realty, Mirna Rees McKinzie Nielsen Real Estate, Rodolfo Cabrera - Re/Max Magic, Alexis Alejo - Mission Equity Realty, Baljit Gill - Hero Real Estate, Scott Tobias - President, Trevor Bachik - Keller Williams Realty, Rhesiric Beduya - Premier Realty, Jasvinder Sidhu - Elite Premier Properties, Leonila Maldonado Homes R Us Realty, Inc., Michelle Greenlee - Blue Sky Real Estate, Bradley Reese, Jr., Chimele Okezie - Coldwell Banker Preferred, Ming

Do you have what it takes? We’re looking for fun filled, community minded, happy go lucky volunteers. If that’s you, join now!

COMMUNITY S P I R I T R E A LTO R S E R V I C E V O LU N T E E R P R O G R A M

BAKERSFIELD REALTOR® MAGAZINE

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Turn left or turn right?

REO RELATED

SHARP PRACTICES Don’t Forget Code of Ethics and MLS Rules Obligations The plethora of distressed and REO properties on the market has brought with it an increase in sharp practices by certain brokers. Some of these actions have challenged the core of REALTOR® professionalism. Certain conduct often associated with REO properties has generated many complaints by REALTORS®. A number of these behaviors and the Code of Ethics and MLS Rules they implicate are outlined herein. 1. PRE-LISTING MARKETING ACTIVITIES In many areas of the State, especially those with a high percentage of REO listings, some brokers have begun to market properties prior to receiving executed listing agreements from the sellers. This phenomenon is a byproduct of institutional lenders desiring to quickly

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sell their REO inventory. The most typical form of pre-listing marketing is the placement of “Coming Soon” or other types of signs on the property in question, presumably under the direction or with the consent of the lender owner, which has foreclosed upon the property. Because there is no listing agreement yet in place, the listing has not been submitted to the MLS, and the agent posting the sign may not be formally empowered to act (i.e. accept offers, etc) on behalf of the seller. Nonetheless, the agent’s sign advertises him as the point of contact on the property while interest on the part of the public and amongst potential cooperating agents is being generated. Some of the dynamics in play resemble those arising with pocket listings where the listing agent works the listing outside of the MLS – although a key difference exists, and that is that in the pre-listing arena, the pre-listing

agent may or may not have legal authority to further represent the seller or may choose not to exercise any of it until a listing agreement is secured. This disconnect creates additional dilemmas for submitting offers on the property, commissions, and possible damage (or perceived damage) to the spirit of cooperation. A REALTOR® may not advertise property without authority (NAR Code of Ethics (“COE”) Standard of Practice (“SOP”) 12-4 and 16-9). That means, a REALTOR® may not advertise a property unless the owner gives his/her permission. Advertising a property without the owner’s permission would also be unlawful false advertising on a number of bases such as implying a relationship that does not exist between the owner and the agent, and in some cases, representing that the property is on the market or to be sold when that is not the case. The bottom line is that even though


a signed written agreement is highly recommended and required to enforce payment of a commission, assuming the seller has consented, it is legally and ethically permissible to place a pre-listing sign on the property, and MLS Rules are not violated for failing to submit the listing because no listing agreement yet exists. Real estate licensees have legal, MLS and ethical obligations to be truthful when advertising property or services. Legally, licensees may be held liable for fraud, intentional misrepresentation, or negligent misrepresentation if they make material false statements or material omissions in any medium of advertising. Model MLS Rule 12.10 prohibits false or misleading advertising and requires participants and subscribers to present a true picture in their advertising and representations to the public. Model MLS Rule 16.6 provides that only the “For Sale” sign of the “listing broker” be placed on the property. Accordingly, a Participant who has posted a “For Sale” sign without having a signed written listing agreement in place conveys the picture that the agent placing the sign has actually secured the listing, and since that is not the case, the representation violates the MLS Rules by being misleading, inaccurate and inconsistent with the MLS’s “For Sale” sign requirement. Whatever the message conveyed on the sign, the test will be whether it presents a true picture or whether it is false or misleading. Thus, with the consent of the property owner, it is permissible for a REALTOR® to post a pre-listing sign that presents a true picture and is not misleading. 2. REFUSAL TO COOPERATE Some potential cooperating agents complain that their calls to the pre-listing agent are not returned and their client’s offer is not presented, yet suddenly the just-submitted

listing will show up as “sold” in the MLS. Surely, refusing to cooperate with a buyer’s broker about the property is a violation of the COE, Article 3 obligation for REALTORS® to cooperate with other brokers, except when cooperation is not in their client’s best interest. It is quite possible that a refusal to cooperate in this situation is more in the interest of the listing broker than the seller. 3. INTERFERENCE WITH EXCLUSIVE AGENCY Buyers’ brokers also complain that when they contact a pre-listing broker about their client’s interest in a property, they are told that no listing has been signed yet, so there is no asking price and no buyer can see the property. Mysteriously, however, when those same pre-listing brokers are contacted directly by the potential cooperating broker’s client, the pre-listing broker is more than happy to tell the potential buyer about the property and even to write an offer on their behalf. If a listing broker undertakes to represent a potential buyer, that broker has obligations under the COE, Article 16. SOP 16-9 states that REALTORS®, prior to entering into a representation agreement, have an affirmative obligation to determine whether the prospect is subject to a current valid exclusive agreement to provide the same type of real estate service. (This is where Buyer Broker Agreements come in handy). Further, under SOP 16-6, even when a communication is initiated by the client of another REALTOR® regarding the same type of service, the listing broker may only discuss the terms of a future agreement or enter into an agreement that becomes effective upon the expiration of any existing exclusive agreement. 4. FAILING TO SUBMIT OFFERS In addition to the Article 3 and 16 COE pre-listing breaches outlined above, another frequent complaint heard in this REO-driven

market pertains to listing brokers failing to submit offers. Assuming a listing agreement is already in place, MLS Rule 9.4, Presentation of Offers requires the listing broker to present an offer as soon as possible”or give the cooperating broker a satisfactory reason for not doing so.” The listing broker and the seller still have the right to make alternative arrangements for when offers will be presented which would be a satisfactory reason for not presenting them as soon as possible. 5. ENFORCEMENT Much of the activity chronicled above occurs during the course of dealings between REALTORS® or MLS participants/subscribers. For example, listing broker never responds to inquiries about the property; cooperating broker contacts lender for instructions on submitting an offer and is told that yes, lender wants offers to be presented; cooperating broker then asserts listing broker violated COE Article 3 and/or MLS Rule 9.4; listing broker states cooperating broker talked to the wrong person in the bank, and the asset manager that listing broker deals with wants all offers postponed to XX date, so he was acting at seller’s instruction and no violation occurred. Determining whether a violation occurred will depend on the facts and circumstances and evidence presented. Instances where such a determination needs to be made do not easily lend themselves to imposition of a unilateral citation by an AOR/MLS and likely necessitate a hearing. This means REALTORS® have to file grievances. While some may be reluctant to do so, nonetheless, the COE and MLS Rules do provide remedies for many bad acts REALTORS® encounter. Perhaps if more REALTORS® challenge those who violate them, it would have an overall deterrent effect against violations and raise the bar in the process. SOURCE: CAR. Find the complete article at: www.car.org/legal/mls/ reo-related-sharp-practices


T

just the facts

2 01 2 M E M B E R S U R V E Y: R E S U LT S R E V E A L E D

he votes have been cast, tabulations are complete and we are ready to report our findings. The purpose of the survey was to find out what our members are thinking in areas like communications, technology, education and political engagement. It’s all about improving our services. It was administered in two parts over the course of five weeks.

PART 1

SURVEY RESPONSES - 378

*Respondent Profile REALTOR 80.1% Affiliate 7.6% Broker 20.3% Owner 8.7% Other 4.2% ®

Years in real estate 0 -2 years 3 - 5 years 6 - 10 years 11 - 15 years 16+ years Age 18 - 30 years 31 - 42 years 43 - 61 years 62 years or older

11.1% 10.3% 31.7% 11.9% 34.9%

6.1% 18.8% 52.7% 21.7%

SELECTED QUESTIONS AND RESPONSES

*BAR utilizes various communication tools; choose the method(s) of communication you prefer most. email announcements 92.8% Connections Newsletter 42.9% MLS notice 60.7% Please indicate the major sources of your business during the past 12 months. residential - traditional 69.5% residential - distressed 59.7% investment 21.6%

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BAKERSFIELD REALTOR® MAGAZINE

If you have called the Association in the last 6 months, did the quality of service meet your expectations? yes 89.6% no 1.0% somewhat 4.4%

PART 2

How would you rate the overall value of your BAR membership? extremely valuable 57.4% helpful 32.0% somewhat helpful 7.9% little to no value 2.3%

*Which technology tools do you use in your real estate business? company website 59.4% mobile applications 53.6% social networking sites 50.1%

*If you’re planning to take classes, which of these would you register for? business development 43.3% legal 45.5% technology 43.3% foreclosure & short sales 47.4% *Which version of our magazine do you prefer? online (digital) 21.4% hardcopy 38.6% both 30.1% Don’t read the magazine 7.9% *What is your primary purpose for attending BAR special events? networking 54.2% information update 64.3% serving as a sponsor 3.7% promote my business 19.1% I don’t attend 15.6%

WINNERS 3-Months FREE MLS Fees

Individuals who completed Part 1 and Part 2 (selected by drawing) Bobby Moreno Garland Perry Valerie Ulrey

Survey Responses - 314 Respondent Profile Demographics closely match those from Part 1

SELECTED QUESTIONS AND RESPONSES

*Please select the reasons for which you look to the Association. education 82.0% industry news 64.4% technology information 57.0% *What are the biggest obstacles for your business? appraisals 38.7% mortgage process 35.8% lack of inventory 62.5% In the area of government affairs, where do you think BAR’s resources are best spent? local 37.2% state 29.2% federal 3.8% not sure 22.2% *What local policy issues are most important to you? business license taxes 41.0% lending/mortgage 50.4% local disclosures 45.9% The Board of Directors continues to evaluate the findings and utilize the information for the rest of 2012 and into 2013. To view the results in their entirety, please visit bakersfieldrealtor.org and click on the Resources tab. *These questions had multiple answers

Starbuck’s Gift Card Winners

First 50 respondents to Part 1 Manuel Gomez Amy Mestmaker Brian Ostrovski Carol Burrell Carolyn Craig Chad Brown Cheryl Ketchum Chris Walters Cindy Veiner Claudia Moore Darlene Tobias Darron Mason Dave Morales Efrain Bobadilla Eufemia Rodriguez Eric Mora Everado Duran Fabiola Dees Florence Coble Gail Malouf Helen Thomas J.C. Patel Jim Summers Jo Rhodes Jodena GarnettHubble

John Franey Jonathan Takach Justin Ryan Kay Boyer Kristy Hoover Laora Norcross Lori O’Brien Mary Christenson Mel Khachigian Michelle Towell Moises Contreras Mona Maran Pam Epps Pam Zulfa Pamela Brennan Renee Schuyler Robert Dobbs Russ Unruh Sara Burnette Saul Bernall Shaylan Trone Shellie Berlanga Sherri Trone Sherry Belcher Tracy Hill


We Asked. You Answered.

I

President Scott Tobias takes a closer look

recently was given the results of the Member Survey, and while there only were 378 responses, there was enough data to get a good read on what our members think about their Association and to hear some of the suggestions offered. Overall, the majority of the responses were positive. I would like to address two of the survey questions that many of you answered: 1) What about your business and/or BAR membership keeps you up at night? 2) If you could talk with our President, what one question or comment would you make? Some members are concerned about ethics and professionalism, and rightfully so. We have issues that range from agents not returning phone calls to violations of our REALTORS® Code of Ethics. Not only is it difficult to work with those that are not professional, it also does not speak well of our industry to both agents and customers who are subjected to unethical or unprofessional behavior. One of the reasons we have the whistle blower program is to help ensure the integrity of our data and reduce MLS violations; although, some of the responses complained about the whistle blower as being too oppressive. Sometimes it is hard to find a balance, but the program has reduced violations significantly. The other method of watching over ethics violations is through the Grievance and Professional Standards committees. It is an ongoing process, but the system works. Unfortunately, we cannot stop a lack of professionalism or unethical behavior any more than the judicial system can stop crime. We can, however, make it more difficult on violators. In my opinion, the best way to improve ethics and professionalism is through the individual brokers paying attention to their agents’ behavior and setting proper guidelines. Education was another common thread of desire. Many of you look to the Association for educational classes. One of my objectives this year was to ensure we offer a good range of classes from improving our “new

agent” programs to providing classes on timely matters such as short sales. There is some concern about the cost of classes. Our Association does not profit from any of the educational programs we offer. We try to either have them sponsored or, if it is a CAR or professional speaker, charge only what is needed to cover our costs. The educational committee, The EDGE, has a number of programs slated for the remainder of the year. We have two programs that will tie in both education and ethics: the new orientation expanded courses (Career Booster I) that begins this summer and the BAR required ethics training that is offered in July and August (see page 32 for details). Joe Newton, our Ombudsman, will provide this training. Several of your comments were directed toward our fees and late fee assessments. Some people thought these should be reduced based on the difficulty of the market. Let me address the late fees. The Board of Directors voted to increase the late fees on MLS because of the high level of late payments, which increases the labor cost. It was decided that the higher late fees would lower the level of late payments and, in fact, it has. The staff at the Association sends notices well in advance of the due date. We are professionals and it is imperative to our business to keep our MLS dues up to date. With regard to our Association dues, the charge for local dues is only $300 per year.

I believe that our Association provides a tremendous service and value for the price. It is unfortunate that our commissions are lower because of lower house prices, but also consider that we have approximately onethird fewer members than in 2006. At a recent CAR meeting, many of the other local Associations discussed raising local dues to cover the loss of revenue. Fortunately we are financially solvent and have not increased our dues in over a year. Last month we began the process of making interior improvements to our new building. There is much to be done in preparation for our move, in addition to maintaining our current building lease until the end of this year. We continue to carefully monitor the budgets of our Association with the goal of reducing our expenses and debt, but not at the expense of diminishing services that are vital to protecting your ability to successfully conduct your business. A few of the members expressed the desire to have contested elections for our Board of Directors. I am happy to report that, for the first time, the nominating process includes contested elections. We received a number of applications and interviewed all qualified candidates, which will result in more candidates being placed on the ballot than available director seats. Our main objective is to have choices between qualified candidates. I am happy to witness this process come to fruition. Several questions and comments were directed to me. One asked if I am having a good time. The answer is YES; I am enjoying the experience, but wouldn’t want to make a career out of it. One comment stated, “We need to change from the old way of thinking.” I have been a member of this Association for over three decades. I assure you we have changed and are continuing to do so. This business is changing every year based on technology and the market. The one thing that does not change is our customers’ desire for professional service. I want to thank those who took the time to answer the survey and provide additional comments. BAKERSFIELD REALTOR® MAGAZINE

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Sweet Martha Johnson

HAPPY Good lookin gals Shari George and Athena Collup

DAYS

Sunday Snake Oil rocks out

William Chica

FOR MEMBERS 1st Thursday Brew & Breakfast Hunger is No Joke - Harvest Event CAR Legislative Meeting NAR Legislative Meeting

snaphots

Jodi Moore

Camillo Reyes, Jessica Szczech Stella Harris, Arlene Jones

Claudia Bugarin, Michele Cooper

Harvest Cheerleaders - Debbie Barta, Michele Cooper, Stella Harris

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BAKERSFIELD REALTOR速 MAGAZINE

Terri Mays, Debra Roberson

Manny Martinez, Kandie Miller, Joe Miller

Jan


nette Ramsey, David Knoeb

Comedian Clint “Grizzly” Bear

Thersa Olson, Shannon Grove, Angie Trigueiro, Sheri Anthes, Athena Collup, David Knoeb

Sheri Anthes, Angie Trigueiro John Boydstun, Lifetime CAR Director Lisa Belt, Nona Galy looking soooo cool

Buddies Lisa Hook, Cheri Romero

Joel Singer, LeFrancis Arnold, Scott Tobias

They took Sacramento by storm

It’s all about team spirit - Theresa Olson, Angie Trigueiro

Darlene and Scott Tobias, Donna Carpenter

REALTORS® rally at the Capitol BAKERSFIELD REALTOR® MAGAZINE

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FUN GAMES Marco Caracas looks tough behind the dugout fence

IT’S ALL

Darlene Tobias sports pigtails

and

Tony Ayon and family

Arriola takes the stance

THANK YOU SOFTBALL SPONSORS!

Miramar International, Prospect Mortgage, Keller Williams Realty Prudential Tobias, REALTORS®, Towery Homes and Old Republic Home Protection. Donations: Smart & Final Charitable Foundation, Bakersfield Condors, Agape Mortgage, iMortgage, Grimway Farms, Kiddie Amusements, iMortgage, Ridge Route Boys BBQ, Sheet Metal Workers Union Local 105, Thomas Rockwell of Trouts, Kim Lewis, Kandie Miller

Congrats Tournam

Net Proceeds to The Jeremy Staat Foundation - $6,354.65 Umpire Dan Shanyfelt tries to look official

Cutey pie Debbie Banducci

The Coldwell Banker Team in all their glory - 2nd Place Team

THANK YOU FAIR HOUSING SPONSORS!

Donald & Diane Lake, Primetime Signs, City of Bakersfield, Fair Housing Dept., Monarch Nut Company, LLC, County of Kern, Fair Housing Dept., Maui Pho Fusion BBQ Grill, James McEwen, Broker, Summit Financial Locator Prop. Mgmt., Premier Realty, Institute of Real Estate Mgmt., San Joaquin Chapter 85, Mayor Harvey Hall, AB Automation / Premier Realty, FritoLay, Chevron Valley Credit Union, Grimmway Farms, Preferred Properties, Bakersfield Blaze Baseball, Gay & Lesbian Center of Bakersfield, Agape Mortgage, Tim and Michele Cooper

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BAKERSFIELD REALTOR® MAGAZINE

Judy Camp is all smiles

Saul Bernal shows us his game face

Jodi Moore, Debra Krohn

Julie Domlao, Susan Trevino


Scarlett Sabin from The Ronald McDonald House, Sam Jabuka, Fermin Galvin, Michele Cooper

Umpire David Knoeb

The Condors Baby Cal

Tony Ayon, Cheri Romero, Sherry Skeels Mayor Harvey Hall and pint-size artist

ment Champs! Miramar International - did the baby really pitch? Janel Sanchez and Adam Arriola

Dollar Dog and Shannon Castro

Bobby Moreno, Freddy Perez, Ricky Portillo, Raju Jassar ham it up Girl Power! Kristin Visser, Felice Ramirez and Emily Gay

Past President Angie Trigueiro “gets wet” for charity - over and over and over

Mechele Monje-Carter, Debra Roberson and Debra’s Grandson

The crowd at the 2012 Fair Housing Art Contest Carnival and Awards Ceremony BAKERSFIELD REALTOR® MAGAZINE

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E D U C A T I O N

A N D

N E T W O R K I N G

A L L

I N

O N E

The Commercial Investment Committee Presents…

Be He Wright . . or . . . Be He Wrong? Friday, June 15th, 8am

Direct from Tulare Union High School, after stops at College of Sequoias & Cal Poly, the MAN who has more knowledge about getting around town . . . OUR TOWN that is! Need to get from Rio Bravo to Seven Oakies . . . & back . . . while avoiding all the DUI stops . . . in 15 minutes? This is your MAN! MR. TED WRIGHT, licensed Civil Engineer, went to work for the City of Bakersfield in 1989 & became TRIP DUDE, that’s the guy who works for Mr. Tandy (City), butt, only answers to Mr. Thomas (King). If you are enjoying the progress made on all the road projects here in the Patch including, of course, the Thomas Roads Improvement

Project, then take the time to come by & salute one of the men who REALLY made it happen! This is the same Dude who came by our meeting place seven or eight years ago, showed us a video presentation of some visionary freeway system, which most of us pooh-poohed . . . but which is reality today! If you doubt the existence of said vision, just drive over the Mohawk or Old River Road overpass, look to the East & then the West . . . about the only thing missing on these stretches . . . CARS! . . . & they’re soon to appear! T.R.I.P. has not been his only accomplishment! TED (Mr. Wright), should get a medal, if for nothing else, Surviving & Thriving, the

Tandy/Thomas Combo! My only fear . . . I think . . . HE HEARS A TRAIN-A-COMING, & IT WON’T BE JOHNNY CASH ON THE THROTTLE. I’m sure he has some colorful opinions on the future of the HIGH SPEED RAIL! Enjoy Railroad Coffee (touch of Brandy), doughnuts, or something much healthier (fruits & nuts) . . . we have plenty of both in the audience!

Sponsored by:

Chereyl Nunn, Wells Fargo Next program is Friday, July 20th

RSVP to karen@bakersfieldrealtor.org or call 661-635-2302

REALTOR® Magazine’s 30 Under 30 for 2012 In Land of REOs, Selling New Construction

VALI NEMETZ

Salesperson John Balfanz Homes, Inc. Bakersfield, CA Age: 29 | 2011 Individual Sales Volume: $10.2 million | 2011 Individual Sides: 27

Two years into working for a custom home builder, Vali Nemetz, ABR, 29, jumped on the builder’s suggestion that she obtain her real estate license. Getting into new construction sales just as the industry was sinking forced her to develop distinctive marketing tools, including video tours for every listed property and incentives for clients. Nemetz has leveraged her real estate know-how to help her community, acquiring rental properties for

an organization that works with emancipated youth. “If I look at my job in a way that recognizes that finding a house, while important, is not an emergency, I am able to have a lot more balance in life,” says Nemetz, the mother of three young sons. “I have been working with clear boundaries since I began selling homes, and I have not lost a client over it yet.” Tip: “Be intentional with your time. When you are working, enjoy being there and do your best -- and when you are not working, set boundaries with your accessibility

so that you can be present there as well. I am the best version of myself when I set and keep my work and personal boundaries.”

BAKERSFIELD REALTOR® MAGAZINE

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A RTI ST’ S COR NER

Man-Made: Vessels by California Craftsmen

Featured Artist

Has man lost connection with his hand? In our modern manufactured society, there appears to be a disconnect between the “maker” and the object. Often the object is prototyped and then sent to a factory to be mass produced. Fortunately, there has been a resurging appreciation for the handmade, reuniting the hand with the object for many artists. This recent exhibition at the Bakersfield Museum of Art, celebrated the craftsmen who spend hours, days, and even years perfecting their craft with their own two hands. Bill Clark asserts himself as a “hobbyist woodworker” but his abilities and techniques extend far beyond this humble self-described title. His works have received many prestigious awards in the wood-turning field and have been selected for multiple juried wood-turning exhibitions. Through innovative techniques and imaginative designs, Christopher Jeffries has carved out his own distinct style. One of the techniques he used is “incision,” which involves cutting into the surface of the glass over a period of a few days to create distinctive and unique patterns. Adam Silverman has gone through many career incarnations but ceramics always seemed to be in the backdrop. Most recently he served as a “potter in residence” at the Kimbell Art Museum in Fort Worth, Texas. Dewey Garrett began using a wood lathe as a way to develop his woodworking skills for furniture and cabinetry; however, he discovered that his intrigue and passion lie more with woodturning rather than conventional carpentry. He has become known for working with palm and exposing its unusual texture with his various techniques.

Christopher Jefferies

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Bill Clark

BAKERSFIELD REALTOR MAGAZINE ®

Dewey Garret


quick reads

WARNING:

Mortgage Debt Forgiveness Act Expires End Of 2012!

One of the most helpful laws on the books for underwater home owners is set to expire at the end of this year. At this point, NAR expects to make a strong push to get it extended because the law will likely be needed in the years ahead as lenders undertake more loan modifications for hard-hit home owners. The law is mortgage cancellation relief and it was first passed in 2007 with NAR taking a prominent role as industry supporter. It relieves home owners who get part of their mortgage loan forgiven from having to pay tax on the forgiven portion of the loan. Ordinarily, the IRS would count that forgiven loan amount as

SHORT SALES: TOP MYTHS DEBUNKED

2012 is the year of the short sale. As an agent, one of your most valuable business tools is the understanding of how to help underwater homeowners avoid foreclosure. Don’t make the mistake of believing these myths:

MYTH 1: The homeowner must fall

behind on mortgage payments in order to qualify for a short sale. DEBUNKED: Years ago this may have been true, but not in 2012. • A financial hardship must exist, such as the ARM (Adjustable Rate Mortgage) increasing in

income. But in light of how hard home owners were hit in the market downturn, it was unrealistic to expect households to pay tax on tens of thousands of dollars on forgiven debt when they lack money to pay their mortgage without a modification. Now, with the ink barely dry on the $25 billion foreclosure settlement between the U.S., states, and the country’s biggest banks, the likelihood of mortgage modifications picking up is strong. It’s safe to say many members of Congress want to extend the relief. It has already been extended once, in 2009. And given its strong bipartisan support in both houses, many members can be expected to support extending it further, especially with its need poised to grow. But in talking with NAR Director of Tax Policy, Linda Goold, about the issue, the challenge could be

monthly payments. • Loss of job or income. • Health or medical issues. • Extraordinary loss in home value (which may be considered a hardship). Note: Agents should not advise a homeowner to miss a mortgage payment.

MYTH 2: Banks would rather

foreclose on a property than approve a short sale. DEBUNKED: Many still believe this myth to be true, but more accurately, banks would prefer not to foreclose on a property due to the $50-70k it may cost the bank per transaction. Banks lose less

in finding a legislative vehicle that can make it through Congress. Goold says trillions of dollars in tax provisions are expiring at the end of this year. Bills for extending expiring tax provisions in the past have tended to be the last pieces of legislation Congress considers before the end of its session, leaving little room for alternative approaches. What’s more, all of these expiring provisions tend to get considered as a big package. That means mortgage cancellation relief, as popular as it is, could get snagged if this larger tax package gets held up. SOURCE: CAR

Today’s Market Good Time to Buy

Researchers from several universities have just completed a paper that looks at what they call the hurdle rate. This is the point at which it’s equally smart to rent or buy if your only criterion is to build wealth. Based on today’s hurdle rate, it’s a better time to buy than to rent, because you can build more wealth owning than renting. The study looks at what they call an indifferent renter. This is someone who is just as happy

renting as buying depending on which choice is better at building wealth over a holding period, in this case eight years. The study assumes the renter puts the savings from renting into an investment to earn a return. The hurdle rate is the point of equilibrium: it’s a wash in terms of wealth building whether you rent or buy. If the rate of return you can get on owning is below the hurdle rate, then it makes sense to buy, because appreciation is underperforming and is likely to go up in the years ahead; if it’s above the hurdle rate, it probably makes sense to rent, at least in the short term, because appreciation is over-performing and likely to head down. “It’s not a perfect reason to buy, it’s just a test,” says Ken. H. Johnson of Florida International University in Miami, the lead author of the study, called “The Rent vs. Buy Decision,” released about two weeks ago. “But it’s a good sign that the market’s turning.” The paper is part of a series Johnson and some other researchers have been doing on the rent vs. buy decision. This paper just looks at the narrow topic of the hurdle rate; other papers look more broadly at whether it makes sense to rent or buy based on financial considerations. SOURCE: CAR

money on a short sale than on a foreclosure. Note: In California, some lenders may pay owners as much as $25,000 to opt for a short sale.

MYTH 4: Short sales never close.

pre-approved by their lender to be eligible for a short sale. DEBUNKED: Absolutely not true. By and large, most lenders will consider short sale offers. However, each lender may have unique and specific processes to follow, from listing the home to the acceptance of a short sale. Bypassing any part of this process may result the sale not closing, so be sure to follow each lenders’ processes closely.

MYTH 5: Short sales take months

MYTH 3: Homeowners must be

DEBUNKED: Obviously not true. In some areas of the U.S., nearly 50% of all closings are considered to be “distressed” properties, meaning REOs and short sales. (and months) to close. DEBUNKED: The short sale processes must be learned. Once mastered, it may not be uncommon to close a short sale in 30 days. However, certain idiosyncrasies may slow the process and each lender presents their own unique set of specific challenges. No two short sale transactions are identical. SOURCE: CAR

BAKERSFIELD REALTOR® MAGAZINE

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Our Local

Housing

Market OVERVIEW OF PROPERTIES

Area

Dollar Value

# Sold 2012 2011

Average Sold Price*

DOM* 2012 2011

% of List Price*

2012

2011

2012

2011

10

81

99

$7,501,912

$9,582,629

$98,727

$101,316

47

58

98.41 95.78

21

45

61

$2,466,032

$3,014,471

$54,801

$50,492

37

55

98.51 96.58

22

97

96

$9,980,950

$8,911,353

$106,447

$94,429

59

62

97.91 96.23

23

10

6

$2,125,500

$1,683,400

$231,722 $280,567

122

85

95.5

31

104

122

$8,137,652

$9,348,446

$78,247

$76,851

58

52

99.87 96.89

32

212

240

$23,757,020

$22,040,829

$113,931

$93,114

63

56

97.88 97.64

33

71

81

$8,697,618

$10,458,986

$124,985 $132,745

50

81

98.48

34

25

31

$6,304,581

$6,571,444

$266,764 $226,909

63

101

93.92 89.33

41

57

68

$4,132,522

$5,009,822

$72,500

$74,012

58

47

97.56 99.43

42

90

93

$7,766,628

$8,320,829

$86,636

$89,357

45

69

98.2

43

6

8

$478,699

$1,045,200

$80,640

$130,650

14

70

103.7 92.87

51

287

355

$24,321,343

$28,055,673

$86,224

$80,621

47

51

98.98 97.27

52

529

549

$72,794,043

$72,626,223

$143,874 $139,244

53

63

98.83 97.26

53

250

277

$53,149,229

$59,169,532

$215,146 $215,672

64

64

98.44 97.31

54

2

3

$509,900

$504,900

$254,950 $168,300

42

51

101

99.53

61

75

68

$14,035,201

$11,416,565

$189,199 $167,891

51

71

99.06

97.1

62

348

417

$76,623,402

$84,718,978

$220,182 $203,173

57

60

63

135

131

$37,157,141

$34,582,575

$275,238 $265,943

61

64

4

8

$747,000

$2,096,500

$232,333 $262,063

109

80

44

36

$6,074,050

$4,975,333

$141,715 $151,962

81

5

4

$684,000

$445,000

$136,800 $106,667

15%

26

23%

22

21

33%

32

70

29%

33

26

31%

34

16

19%

41

20

35%

42

18

22%

43

5

20%

51

51

27%

52

113

28%

53

68

16%

54

1

100%

61

18

28%

98.88 98.34

62

78

19%

64

98.35 98.64

63

37

11%

62

100.1

64

5

20%

73

72

96.61 99.54

80

54

41%

126

255

93.27 75.47

81

10

0%

98.72

82

18

56%

88.72 89.51

83

13

54%

97.91

91

7

29%

0

0%

$1,793,500

$921,002

$105,969

$93,500

57

56

$1,573,455

$2,159,350

$89,615

$123,584

83

81

$76,846

34

21

0%

17

$74,705

10

27%

10

$5,532,917

% of REO or Shortsale

8

18

$4,781,150

#Active Listings

30

18

72

95.18

Area

31

83

64

2011

23

82 91

2012

DISTRESSED PROPERTIES

56

55

97 99.3

97.7

96.46

97.2

92

2

10

$260,900

$2,655,125

$130,450 $265,513

263

106

99.62 95.09

92

93

5

4

$665,400

$458,900

$133,875 $114,725

55

96

88.02 98.75

93

3

33%

94

5

0%

94

4

6

$320,500

$855,400

$132,500 $142,567

101

31

112.3

95

112

102

$12,309,382

$10,362,000

$109,905 $101,588

112

59

97.59 96.97

95

43

30%

95.57 94.95

96

23

26%

98

31

42%

99

58

52%

96

57

68

$3,422,125

$4,542,230

$60,171

$67,291

68

58

95.4

98

99

104

$11,611,850

$12,139,280

$119,045 $117,347

63

62

97.29

97.9

99

97

176

$14,201,126

$19,600,647

$158,431 $112,295

64

65

96

92.48

* Figures from single family homes only. Statistics were run on May 21, 2012.

26

BAKERSFIELD REALTOR速 MAGAZINE


The numbers tell the story

2012 Compared to 2011 by MLS Area Active,2,500Pending and Sold - All Areas

2,500

2012

2,000

2,000

2012

2011

2011

1,500

1,500

1,000

1,000

500

500

0

ACTIVE

CONTINGENT

PENDING

0

SOLD

MARCH 2012

CONTINGENT

PENDING

SOLD

APRIL 2012

All Areas

All Areas

March Active Contingent Pending Sold Total Volume Closed

ACTIVE

2012

2011

% Year over Year Change

1,040

2,220

-53.2%

Active

997

839

18.8%

Contingent

1,453

1,590

-8.6%

Pending

720

797

105,079,619 105,975,995

Median Sales Price * Average DOM *

-9.7%

Sold

-0.8%

Total Volume Closed

129,000

119,000

8.4%

Median Sales Price *

58

63

-7.9%

Average DOM *

2011

% Year over Year Change

Bakersfield March

April

2012

2011

% Year over Year Change

903

2,028

-55.5%

1,012

877

15.4%

1,358

1,509

-10.0%

704

777

-9.4%

103,428,272 103,452,719

0.0%

132,000

121,900

8.3%

56

59

-5.1%

2012

2011

% Year over Year Change -12.5%

Bakersfield 2012

April

592

636

-6.9%

Sold

574

656

Total Volume Closed

89,802,546

89,833,982

0.0%

Total Volume Closed

90,834,111

90,835,161

0.0%

Median Sales Price *

132,475

127,500

3.9%

Median Sales Price *

145,500

126,750

14.8%

53

63

-15.9%

56

59

-5.1%

Sold

Average DOM *

Average DOM *

2012 QUARTERLY 1st Qtr 2012

1st Qtr 2011

New Listings

2,878

3,482

Contingent

1,581

1,265

Pending

2,286

2,366

Sold

1,891

2,015

262,727,662

267,257,402

122,101

118,500

58

62

85.00

82.00

Total Volume Closed Median Sales Price * Average DOM * Average Sale Price/SqFt *

BAKERSFIELD REALTOR速 MAGAZINE

27


GRI TES TIMONIALS

GRADUATE REALTOR® INSTITUTE

The GRI designation may only seem to be letters behind an agents name, when in reality it is an indicator the person is a professional. A professional, who has taken the time to enhance their knowledge base. I took this course my first year in the business and I can testify that it has given me an edge and allowed me to open doors sooner and more efficiently. -- ADRIAN DINIZ, City Real Estate Group and Property Management

SCHEDULE Face2Face classes begin July 25, 2012. Classes are held one day each month from 8am - 5pm. PAYMENT OPTIONS Cost per Course: $149 each OR Prepay the entire series for $1,625 and SAVE $163. For more information and to register, visit edesignations.com Association Contact: Cindy Kiser, 661-635-2300 CAR Education Foundation Program REALTOR® applicants who have completed an advanced professional designation may be reimbursed for a maximum of $1,000 per calendar year, with a lifetime maximum of two awards.

28

BAKERSFIELD REALTOR® MAGAZINE

The GRI designation is the best investment I’ve made in my 10 years of real estate. As a new agent, I had so many questions and our brokers only have so much time. I wanted answers for my clients questions so I could be professional and explore all aspects of real estate. The GRI program offered classes in every subject. The teachers were very professional, very educated in their subject and most of all they were very experienced. -- DANA LEONARD, Broker The GRI designation tells other agents that you have taken the extra step to educate yourself in more detailed study of our business. The GRI Network aligns the designee with like-minded professionals for future referrals. Attending classes locally is a huge benefit, as it eliminates the need to travel into the LA Basin for classes, saving a lot of time and money. -- WAYLAND LOUIE, RE/MAX Golden Empire

WHAT IS THE GRI DESIGNATION GRI is the #1 real estate industry designation. It is similar to professional designations in other industries like: CPA (Certified Public Accountant) CESO (Certified Senior Escrow Officer) CLU (Charter Life Underwriter) CFP (Certified Financial Planner). GRI is available only to members of the local, state and National Association of REALTORS®. BENEFITS OF A GRI DESIGNATION Use what you learn for business planning, increasing your professional competence and improving your income potential. NAR research shows that sales agents with GRI designations earn at least 35% more than non-GRI agents. Expand your professional network while you earn valuable continuing education credits for your DRE license renewal.

FACE2FACE CLASS SCHEDULE JULY 25 - #114: Essential Concepts of the CAR Residential Purchase Agreement August 28 - #100/1001: Agency/ Ethics September 25 - #102/104: Trust Management/Fair Housing October 23 - #105: Legal Issues November 27 - #106: Money Making Strategies December 18 - #107:Technology Applications


It takes a lot of blood, sweat and tears Top 10 Tips for Short Sales

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 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 mid-way through the transaction in order to avoid tax liabilities. 3. Do Your Research. 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, to monitor the process and make sure the seller doesn’t lose the property to the bank before close of escrow. Short sale negotiations with a lender do not automatically stop the foreclosure process. 4. Use CAR’s Free Tools. CAR 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 CAR’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. 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 CAR’s ARC 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. 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. Take into account that the ultimate sales price may be less than the initial listing price. Include all costs in the estimated HUD-1 Settlement Statement: buyer-required repairs, smoke detectors, water heater bracing, property taxes, HOA dues, and moving allowance for the seller, if appropriate. 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. 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 short sale negotiators. BAKERSFIELD REALTOR® MAGAZINE

29


{ }

TOGETHER - LET’S TAKE A BITE OUT OF HUNGER Presented by the Bakersfield

ASSOCIATION OF REALTORS Bakersfield

REALTORS Sharing the Harvest ®

the REALTOR® Brand and homeownership in the Bakersfield Community.

®

tradition. community. advocacy.

Association of REALTORS®

HUNGER IS NO JOKE!

Bakersfield

ASSOCIATION OF REALTORS

®

tradition. community. advocacy.

Bakersfield

Join us in helping ASSOCIATION OF REALTORS feed our neighbors and friends. See you at the party!

®

tradition. community. advocacy.

Bakersfield

ASSOCIATION OF REALTORS

Wednesday, March 28th

®

5:30 - 9pm at Senor Pepe’s

tradition. advocacy. tradition. community. community. advocacy.

4800 Stockdale Highway Suite 100 Bakersfield, CA 93309 661-635-2300

8450 Granite Falls Drive Behind Walmart on Rosedale

100%

Cover Charge:

Facebook.com/bakersfieldrealtors www.bakersfieldrealtor.com

2 cans of food or 2 bucks

F I N D

A

R E A L T O R :

Hwy.

of proceeds benefit the

Golden Empire Gleaners

B A K E R S F I E L D R E A L T O R . C O M

Bakersfield

Public Relations ASSOCIATION OF REALTORS

®

tradition. community. advocacy. 4800 Stockdale Hwy., #100 Bakersfield, CA 93309 Phone: 661-635-2300

F A C E B O O K . C O M / B A K E R S F I E L D R E A L T O R S

n

B A K E R S F I E L D R E A L T O R . C O M

Spring Fever - Catch It!

}

PROMOTING

th Thurs day, May 17

B A K E R S F I E L D

third thursdays Something for Everyone

th Thurs day, May 17

BAKERSFIELD

th Satur day, May 19

nd Satur day, June 2

The 2012 Marketing and Communications plan focuses on continuing to build a positive public image of our industry and our members. Our values and our brand are actively communicated through monthly ads in the Bakersfield Californian newspaper and the Bakersfield Life Magazine. The ads are designed and written to draw attention and make an impact on the reader. Headlines and messages are carefully crafted so that they represent who we are and reflect our values. Since January 2011, the Association has published over 30 advertisements and numerous real estate related articles. In addition to this valuable publicity, the Board of Directors has proactively created new programs and partnerships that demonstrate our commitment to our community. These help promote our members and the real estate profession. Here are a few examples: n The Jeremy Staat Foundation n Bakersfield Symphony Orchestra n Bakersfield Museum of Art n The Golden Empire Gleaners n Alzheimer’s Day Care Foundation n Casa of Kern County n Friendship House n Exchange Club of Bakersfield n Condors n Kern Economic Development Corp. n K-12 Schools - Fair Housing Arts Contest n JJ’s Legacy Golf Tournament

Bakersfield

ASSOCIATION OF REALTORS

4800 Stockdale Highway, #100, Bakersfield, CA 93309 661-635-2300 n www.bakersfieldrealtor.org

®

tradition. community. advocacy.

HOME OWNERSHIP: IT’S THE AMERICAN DREAM

We’re always standing watch. People routinely use the terms REALTOR® and real estate agent interchangeably, but there is a definite difference between the two. While both are licensed by their state, only licensees who are FIND A REALTOR® www.bakersfieldrealtor.com

members of the National

Association of REALTORS® can use the term REALTOR®. When you’re talking to a REALTOR®, you’re talking to a professional who lives by a stringent Code of Ethics and is looking out for your best interest. We’re prepared to answer your questions, show you options and guide you home.

Bakersfield

ASSOCIATION OF REALTORS

®

tradition. community. advocacy.

4800 Stockdale Highway, #100 Bakersfield, CA 93309 n 661-635-2300

www. facebook.com/bakersfieldrealtors

what if…

n w w w. b a ke r s f i e l d r e a l to r. c o m

WE CELEBRATE WHAT’S RIGHT WITH THE WORLD

THE BAKERSFIELD ASSOCIATION OF REALTORS®

is proud to announce

scott tobias 2012 PRESIDENT

“We are beginning our 2012 journey with a focus on what is right in our community. We believe this creates the positive energy to fix what is not. Even with challenges in the economy, we believe this will be a good year for Bakersfield. I hope you find inspiration in this idea and look forward, as we do, to a year of many creative possibilities.”

Bakersfield

ASSOCIATION OF REALTORS

4800 Stockdale Highway, #100, Bakersfield, CA 93309 ®

661-635-2300 n www.bakersfieldrealtor.com Twitter.com/bakorealtors n Facebook.com/bakersfieldrealtors

tradition. community. advocacy.

Bakersfield

ASSOCIATION OF REALTORS

®

4800 Stockdale Highway, #100 Bakersfield, CA 93309 n 661-635-2300 www. facebook.com/bakersfieldrealtors

n w w w. b a ke r s f i e l d r e a l to r. c o m

FIND GREENER PASTURES mortgage interest rates at an

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WE ARE PARTNERS.

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BETWEEN A REAL ESTATE LICENSEE AND A CREDENTIALED

Arts contest 2012

FAIR

HOU SING

Calling Parents and Teachers

Encourage your students to express themselves ...

through art while learning the importance of fair housing in our community. Students K-12 are eligible.

For guidelines, forms and sponsorships, visit www. bakersfieldrealtor.com. Click on the contest promotional box.

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Submission Deadline: Friday, March 30th, 2012

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BELIEVES IN

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DISTINCTION

THE BAKERSFIELD ASSOCIATION OF REALTORS®

REALTOR®.

ANSWER. REALTOR

BUY NOW!

MANY PEOPLE DON’T REALIZE THERE IS AN

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HOMEOWNERSHIP MATTERS - IT’S THE AMERICAN DREAM

BAKERSFIELD MAGAZINE PRESIDENT, BAKERSFIELD REALTOR ®

ASSOCIATION OF REALTORS®

FAIRLY AND REPRESENTS YOUR BEST INTEREST.

BAKERSFIELD ASSOCIATION OF REALTORS®

Bakersfield

ASSOCIATION OF REALTORS

®

4800 Stockdale Highway, Suite 100, Bakersfield, CA 93309 n 661-635-2300 n Facebook.com/bakersfieldrealtors n www.bakersfieldrealtor.com

tradition. community. advocacy.

4800 Stockdale Highway, #100 Bakersfield, CA 93309

FOR DETAILS, VISIT WWW.BAKERSFIELDREALTOR.COM

Working side-by-side to create the best…

HOMEOWNERSHIP: IT’S THE AMERICAN DREAM

FACT: For every


DONNA CARPENTER

POLITICAL POSTURING

How will Kern County comply?

The Global Warming Solutions Act The implementation of The Global Warming Solutions Act (AB-32) will impact housing choices for future generations. In 2006 the California Legislature passed AB32 which requires the State to reduce greenhouse gas (GHG) emissions to 1990 levels no later than 2020. According to the California Air Resources Board (CARB), 1990 GHG emissions from automobiles and light trucks were 108 million metric tons, but by 2004, these emissions increased to 135 million metric tons. In 2008, Governor Schwarzenegger signed SB 375 into law to improve land use and transportation policy coordination in order to help to achieve the goals set forth in AB 32. The main objectives of SB 375 are: 1) To use the regional transportation planning process to direct funding to projects that reduce GHG emissions by coordinating land use and transportation planning; 2) To use the California Environmental Quality Act (CEQA) streamlining as an incentive to encourage residential development projects which help achieve AB 32 GHG emission reduction goals; 3) To coordinate the State’s requirements for regional housing development and planning with the regional transportation planning process. Metropolitan Planning Organizations (MPO’s) are regional agencies responsible for developing long-term Regional Transportation Plans (RTP’s) that coordinate local, State and federal transportation investments. Under SB 375, each of the State’s 18 MPO’s, including the Kern Council of Governments (Kern COG), must update their RTP’s so that the resulting development patterns and supporting transportation networks can reduce GHG emissions to the targets set by CARB. This is done through the adoption of a Sustainable Communities Strategy (SCS) which is a planning document intended to integrate local government land use and transportation and demonstrate how GHG emission reduction targets are to be met. The MPO is required to incorporate the SCS (or Alternative Planning Strategy) into its updated RTP. CARB convened a Regional Targets

Advisory Committee (RTAC), which included representation from the California State Association of Counties, the League of California Cities, MPO’s, developers, planning organizations and other stakeholder groups. Using a method established by the RTAC, CARB established GHG emission reduction targets for each MPO and these targets are to be updated every four to eight years through an exchange of technical information between the MPO’s, the affected air districts and CARB. MPO’s are responsible for demonstrating compliance with SB 375, but the process is designed to encourage collaboration with counties and cities-the local governments with authority over land use decisions in California. Rather than imposing sanctions for noncompliance, SB 375 includes regulatory incentives to encourage local governments to collaborate with MPO’s by easing specified requirements for the CEQA environmental review of qualifying development projects. For the MPO’s in the State’s major metropolitan areas, the targets call for reductions in per capita GHG emissions from passenger vehicles/light trucks, relative to baseline conditions, on the order of 7 to 8 percent by 2020 and 13 to 16 percent by 2035. The eight rural central California MPO’s, including Kern, have a preliminary GHG reduction target set at 5 percent by 2020 and 10 percent by 2035 with the opportunity to revise the target in 2012. Although these eight Valley MPO’s have been coordinating their efforts to develop SCS programs and efforts are being made to promote one comprehensive SCS approach for the Valley, the Valley MPO’s have the ability to establish separate SCS programs that address local issues unique to each MPO. Although some of the specified reductions can be achieved through improvements in

traffic flow (which improve gas mileage and promote uninterrupted traffic movement), most will need to come from reductions in the length and frequency of car trips, increasing transit use, as well as biking and walking modes. Under SB 375, each RTP is intended to demonstrate compliance with the GHG target specified in the SCS section of the RTP. The SCS is to include a scenario for planned growth consistent with local government land use planning assumptions that account for transportation, housing, environmental and economic needs. The SCS is to be designed to coordinate transportation and land use to meet GHG emission reduction goals if there is a feasible way to do so. In Kern County, the Regional Planning Advisory and Transportation Modeling Committees that include local government staff and public representatives are assisting Kern COG to develop a suitable local plan within the framework of the SB 375 legislation. Kern County’s large size (8,161 square miles) and largely agricultural and petroleum oriented economy warrant unique programs for dealing with the land use and tripreduction strategies to be used in the SCS. Kern County also has several inter-state highways (I-5, U.S. Route 395, State Route 14, State Route 58 and State Route 99) where pass-through trips originate and end outside of the County’s boundary. These and other circumstances will warrant the development of specialized approaches for addressing the SB 375 mandate. While Kern COG’s transportation and air quality conformance modeling currently does not address assumptions related to High Speed Rail (HSR) development, there is an effort by the State to use the HSR as a means to address up to $1M metric tons of GHG emissions. The validity of this assumption will play out in the future as the feasibility and practicality of the HSR alternative transportation mode is determined. The effects of implementing a comprehensive, Statewide GHG program remain to be seen as the SCS programs are developed, adopted and implemented. BAKERSFIELD REALTOR® MAGAZINE

31


REALTOR® MANDATORY

Code of Ethics Training National Association of REALTORS® policy requires all REALTORS® to complete an enhanced NAR Code of Ethics training once every four years, meeting specific learning objectives and criteria (adopted by the Bakersfield Association of REALTORS® in 2009 [Article V, Section 12]). The current four-year cycle ends this year, December Joe Newton 31, 2012. The ethics training tests REALTORS® on NAR Code of Ethics concepts, identifying code violations, and enforcement of professional standards. Failure to complete the ethics training is a violation of membership, which can lead to suspension of membership and possible termination. Online ethics courses are offered for free, available seven days a

week, 24 hours a day, at http://www. REALTOR.org/COEtraining. For those members who prefer a live instructor over an on-line course, the Bakersfield Association of REALTORS® is offering a free live training classes with Joe Newton.

Ethics Training Course with Joe Newton Date: Tuesday, July 31st Time: 8am - Noon Date: Tuesday, August 14th Time: 1 - 5pm Place: Association RSVP: 635.2300 or

cindy@bakersfieldrealtor.org

MEMBERS WHO ARE EXEMPT: New members who joined and participated in a New Member REALTOR® Orientation between January 1, 2009 and December 31, 2012 are not required to take the Mandatory Ethics Training. They

IT’S TIME! MEMBERSHIP DUES

LOCAL ASSOCIATION DUES As you may recall, in 2010 our Association membership approved a Bylaws change, which provided for local Association Dues to be billed on a fiscal year basis instead of a calendar year basis. This change allowed for local dues to come payable on a

32

BAKERSFIELD REALTOR® MAGAZINE

mid-year cycle instead of yearend when CAR and NAR dues are payable. The current dues billing covers the local portion of your dues from July 2012 – June 2013. Should additional clarification be needed, please contact the Association office at 661.635.2300.

will be required to take the next round in 2013 -2016. n Members who have obtained the NAR Emeritus Award are exempt from the Mandatory Ethics Training. Note: Members who are eligible for the DRE 70/30 Continuing Education exemption are NOT exempt from the Mandatory Ethics Training.

TRAINING OPTIONS: n NAR Ethics training is available on the NAR website. This is a FREE class; however, NO DRE credits available. n Live FREE instruction with Joe Newton at the Association office NO DRE credit available. n CAR Tabs Program does have an Ethics Training that will meet the NAR Mandatory Ethics Training and will give DRE credits. Link for the course http://goo.gl/7q0Dv . The cost for this program is $19. n The GRI program also qualifies for the NAR Mandatory requirement. The class will be offered August 28, 2012. Cost: $149


BAKERSFIELD ASSOCIATON OF REALTORS ®

ADVERTISING

“X” marks the spot

Hit your target market with the Bakersfield Association of REALTORS® The Association has over 1,700 REALTOR® and Affiliate members. We offer many ways for you to actively communicate your company’s brand and marketing message directly to our members. Reach your target market in smart, effective and affordable ways. Please consider one of these advertising opportunities.

AD VER TISING RAT ES REALTOR ® MAGAZINE Affiliate Members 1/4 page............................................ $150 1/2 page............................................ $250 Full Page............................................ $350 Inside Front Cover............................. $450 Inside Back Cover............................. $450 Back Cover......................................... $550

CONNECTIONS NEWSLETTER

For your personal marketing consultation contact:

Affiliate Members Only Once each week for 4 weeks....$200/mo

Cheryl Huff

PUBLIC WEBSITE* BANNER AD

Director of Communications, 661.635.2305 cheryl@bakersfieldrealtor.org

Member Advertising Rates

Feature Ad (1 month)........................ $125 Home Page (1 month)....................... $100

nNon-member

advertising rates also available

*www.bakersfieldrealtor.com

Join us!

n Social

Make it happen! Call now

Networking n Property Pitches n Virtual Property Tours

661-635-2305

Wool Growers

Luncheon PH

RA

TO G B BYS P H O

620 E. 19th Street

Location:

S

PO

THURSDAY, JULY 5 -- NO BREW th

E D BY A

BREW & Breakfast

When: Time:

Wednesday, June 13th 11:30am - 1pm

R NSO

FIRST THURSDAY

ONE REALTOR® attendee will win a 3-day/2-night getaway in our business card drawing. Multiple destinations to choose from!

Y

WIN A TRIP

RSVP:

By Noon, June 11th email: cindy@ bakersfieldrealtor.org

BAKERSFIELD REALTOR® MAGAZINE

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LIVING THE LIFE OF A

See What Technology Can Do For You

MOBILE AGENT

Have you ever wondered what it is like to be a mobile agent? With the abundant technology tools that are available in the marketplace, it is becoming more and more feasible to be a mobile agent. A mobile agent who utilizes technology can make the real estate profession more efficient, cost effective, productive Alan Perez and professional. Liberty Real Estate Technology Committee Chair Technology has facilitated a simple and more efficient process of buying or selling a home and can be a significant factor in driving your business forward. There is a constant innovation of technology that has facilitated the innovation of business. In today’s marketplace, some of the tools that exist include, but are not limited to, tablets, virtual offices, virtual phone systems, hotspots, laptops, electronic signatures, smart phones, paperless transaction management systems, electronic faxing, online file storage and social networking sites. I have already transitioned to become a mobile agent. As a mobile agent, I rely on technology on a daily basis. These are some of the tools I utilize the most: electronic signatures, hotspot, iPad tablet, laptop, virtual office, smart phone, electronic faxing, paperless transaction management system, online file storage, and social networking sites. I am a mobile agent, partly, because I believe in living a socially TECH T ID B I T S responsible and eco-friendly lifestyle. By eliminating paper, we value our environment and live in a sustainable way. With clients, I am able to avoid printing property profiles by showing them all the information on my iPad tablet. In instances where clients want to submit an

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BAKERSFIELD REALTOR MAGAZINE ®

offer, all I need to do is turn on my laptop and write the offer using online zip Forms. After that, I have my clients esign the required paperwork on my iPad. I am able to connect my laptop and iPad to the internet with a 4G hotspot. When I need to meet a client in a professional office, I rent a virtual office or conference room for an hour or so. I am also able to send and receive faxes

It’s Not ‘Blogging,’ It’s Online Marketing BRIAN SUMMERFIELD, REALTOR® MAGAZINE

When I wrote a story in REALTOR® Magazine a couple of years ago about the realities of doing business in social media, I interviewed Jay Thompson, a.k.a., The Phoenix Real Estate Guy. Jay’s been blogging for years, and has generated a ton of business from it. Back then, he described to me how his former broker didn’t take blogging seriously, dismissing it as playing around instead of conducting real business. While many real estate pros have since come around on the value of blogging, there is still a sense among many of them that it’s not a worthwhile activity. Part of the problem is the word itself. “Blogging” tends to conjure up impressions of amateurish writers getting online to flame a politician they don’t like, or provide updates on their cats, or post photos of their vacation. Instead, think of it as marketing your business on the Internet. Creating content is easier than ever before, thanks to free, open-source “blogging platforms” — or content management systems (CMSs), Brian Gardner, partner in Copyblogger Media, founder of StudioPress, cited WordPress as a high-quality, flexible, easy-to-use CMS. “What WordPress allows me to do is not only drive the car, but build the car,” he said. Clark listed three keys to online marketing: 1. Design optimization: A professionallooking, logically designed site 2. Content optimization: Engaging content that’s also easy to find via search engines 3. Convergence optimization: High traffic combined high rates of lead conversion.

online with electronic faxing and the faxes are automatically converted to pdfs. These are followed by email confirmations of sent or received faxes. I utilize my smart phone frequently to send and receive emails. In addition, I utilize a virtual phone system with a local business phone number that has a recorded main greeting with different extensions for departments and employees. This virtual phone system allows me to get calls, voice mails and faxes anywhere. I enjoy this convenience. I utilize an online transaction management system for all my transactions, which allows me to create checklists and store all of my files online. I am able to keep a timeline of events on the transaction, as well as document any notes. After the transactions have closed, I use online file storage. Social networking sites like Facebook and Twitter have allowed me to socialize with my peers and generate business. These tools are available in the cloud. Contrary to what people think, transitioning to a mobile agent is fairly easy. Being a mobile agent has made me more productive. I feel I have a competitive advantage because I am able to do business on the go - wherever I am located. It has allowed me to be more efficient with my time and my clients’ time. I am able to control my costs, increase free cash flow, maximize shareholder value, as well as get a higher return on investment. I hope my experience has helped you gain a better understanding of the life of a mobile agent on the go and inspired you to do some research. Take the first step and see what technology can do for you and your business.


Face2Face Educational Courses

JULY 2012 RPA-CA Contract Course Monday, July 9, 2012 9 – 1pm Fundamentals of Transaction Coordination Course #1 Monday, July 16, 2012 10am - 3:30pm REALTOR® Productivity & Profitability with the iPad Friday, July 27, 2012 9am – 12pm

MULTICULTURAL

Professionals Panel Tuesday, June 19th, 1-3pm Ask questions of local panelists who represent a variety of groups: Carlos Sanchez, Amy Mestmaker, Susan Blanza, Deep Singh and Young Trieu. Enjoy homemade desserts from around the world - prepared by our members. Some of the yummy treats include: Tres Leches, Coconut Custard, Baklava, Tiramisu and Struffoli, Sopa de Pan, Cherry Cobbler and Apple Pie.

[ 5 1 S T

Presented by the Cultural Diversity Committee

cultural D I V E R S I T Y

creating new perspectives

]

A N N U A L

GOLF TOURNAMENT Get in the swing of things! OCTOBER 12, 2012

The Links, Riverlakes Ranch Golf Course U.S. OPEN SPONSOR

{ } Benefiting The Golden Empire Gleaners & Bakersfield’s Ronald McDonald House

PGA CHAMPIONSHIP SPONSORS BAKERSFIELD REALTOR® MAGAZINE

35


Prsrt Std U.S. Postage PAID Bakersfield, CA Permit #70

Roll the dice and try your luck! WHEN: Thursday, August 16 TIME: 6 - 10pm WHERE: Moorea Banquet Centre 8700 Swigert Court, #109 (Palm Island Plaza)

TICKETS: $25, on sale starting June 25th Catered by Ridge Route Boys BBQ

[ Benefiting The Golden Empire Gleaners ] 36

BAKERSFIELD REALTOR速 MAGAZINE

SPONSOR YOUR OWN BLACKJACK TABLE! CALL US


2012 june july realtor magazine