2019 4th Quarter Greater DAOR Magazine

Official publication of

greater

DOWNEY ASSOCIATION OF REALTORS

• Meet your 2019 Board of Directors

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RVIVED I SU

• Legislative Update Prop. 5 & 10

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D

OM M I T T EE

• A final message from 2018 president

N A GREATE

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• 2019 Strategic Plan

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O NG

AO

• 2019 Greater DAOR Benefits

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IN THIS ISSUE:

President Ericka Saenz and Assessor Jeffrey Prang

4th Quarter 2018 Volume 5 IssuePAGE4 | 1

Alex Ascencio Divisional Manager NMLS#244230 | CA BRE: 01302752

O: 562-861-1414 | C: 562-413-1087 aascencio@afncorp.com www.alexascencio.afncorp.com

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Working together with YOU to take YOUR business to the next level On Time, Every Time.

GREATER DOWNEY ASSOCIATION OF 2018 LEADERSHIP OF GREATER DAOR Executive Directors: Ericka Saenz, President Daniel Nevarez, President-Elect Ruben Sariñana, Vice President Rowena Dominguez, Treasurer Jeanette Baumann, Executive V.P. Directors: Michael Berdelis Maribel Chavez Maria Lilley Remoun Said Luther Sanchez Esther Lee Vicki Spearman Immediate Past President: Mario Acevedo

Greater DAOR Chaplain: Roman Meza C.A.R. State Directors: Ericka Saenz, Mireya Ruiz, Mario Acevedo, Dan Nevarez, and Josue Barrios, Assistant Regional Chair

Greater DAOR Staff

Jeanette Baumann, EVP - evp@DAOR.com

Customer Care Department

Nelly Palma, nellyp@DAOR.com Andrew Garcia, communications@DAOR.com Erica Ochoa, education@DAOR.com Selena Mendoza, customercare@DAOR.com

Membership Department

Julie Sartor, julies@DAOR.com Violet Pantoja, bct@DAOR.com Amanda Camarena, membership@DAOR.com Sussie Gonzalez, cs@DAOR.com

REALTORS

12073 Paramount Blvd - Downey, CA 90242 Phone: (562) 861-0915 Fax: (562) 923-9995 www.DAOR.com Monday - Friday, 9am-5pm Saturday, 9am-1pm 24/7 text support :

Text DAOR (562) 659-6730 Volume 5 - Issue 4

This publication is printed quarterly, delivered in March, June, September & December

Education Center

12069 Paramount Blvd Downey, CA 90242

Page 1 2019 Benefits Page 2 Mortgage Rule Face Lift 2019 Page 3-4 2019 Strategic Plan Page 5 October Luncheon

SEE PAGE 11

Page 6 Final Message from 2018 President Page 7-8 Corelogic Report Page 9 I survived a DAOR committee Page 10 Legislative Update Page 11 Pin Ceremony & Senior Social Page 12 Affiliates Working for You Page 13-14 Meet Your 2019 Board of Directors Page 15 Rev-It-Up Page 16 Silver Bear Contributors

COMMITEES Budget & Finance Committee Oversight Committee Carrie Uva, Chairperson Jackie Funk, Chairperson Professional Standards Committee Diane Sanchez, Chairperson

Affiliates In Action Committee Luz Lluncor, Chairperson

LCRC Trustees Nubia Aguirre, Chairperson

Scholarship Committee Jeff Worthy, Chairperson

Local Government Relations Andrea Jimenez, Chairperson

Membership/MLS Technology Committee Jose Perez, Chairperson REALTORS Advocating for Political Progress Jesus Guerra, Chairperson

REALTOR Community Relations Committee Grievance Committee Mireya Ruiz, Chairperson Tyler Wirth, Chairperson

ON THE COVER See Page 5

PAGE | 1

REGULATORY

A QUALIFIED MORTGAGE RULE FACELIFT IN 2019?

A mandatory review of the Qualified Mortgage Rule is coming. Will the overly restrictive rule get an update?

By Sue Johnson, strategic alliance consultant Ever since the Consumer Financial Protection Bureau (CFPB) published the Qualified Mortgage Rule (QM Rule) in 2014, mortgage lenders have complained that it is overly-restrictive and unnecessarily suppresses lending to creditworthy borrowers. This may change in 2019, based on some upcoming deadlines and recent signals from the Administration and the CFPB. A Mandatory 5-Year QM Review is Approaching The DoddFrank Act required the CFPB to assess the effectiveness of each significant federal consumer financial protection law within five years of its effective date, after receiving public comment. The final QM rule was issued on January 10, 2014, and the CFPB labeled the rule as significant, so its assessment must be completed by January 10, 2019.

In June 2017 (under former Director Richard Cordray’s tenure), the CFPB solicited public comments under this statutory mandate and announced that it would publish an assessment report with its findings no later than January 10, 2019. A total of 485 comments were received, many of which recommended raising the 43 percent debt-to-income ratio and making changes to the 3 percent points and fees restriction.

The GSE Patch Will Expire Another motivation for the CFPB to assess the QM rule is that the GSE patch, which allows GSE-eligible loans to qualify for QM status even if they exceed the 43 percent debt-to-income ratio, lasts only until Fannie Mae and Freddie Mac exit their government conservatorship or until January 10, 2021, whichever comes first.

The Trump Administration released a proposal in June that would privatize Fannie and Freddie, but Congressional passage of GSE reform legislation in the immediate future is not considered likely. If no other action is taken by January 2021, then approximately 13.1 to 15.6 percent of GSE borrowers and 35.7 to 38.9 percent of Fannie Mae borrowers may have to look to portfolio lenders to get mortgage financing, according to Bricker and Eckler, LLP. Commenters responding to the CFPB’s 2017 solicitation had several suggestions on how to deal with the GSE patch, including removing or extending its deadline, raising the current 43 percent debt-to-income ceiling, and changing the 3 percent points and fees cap.

The Treasury Department Recommends It In June 2017, Treasury Department Secretary released the first specifics on

how the Trump Administration plans to roll back parts of the Dodd-Frank Act. In its report, it labeled the QM rule as “the most significant post-crisis regulation impacting loan originations” and claimed that it eliminates access to mortgages for many creditworthy borrowers. It recommended that the CFPB mitigate “overly prescriptive and rigid requirements” for determining borrower debt and income levels, ultimately phase out the GSE patch, and increase the $103,000 loan amount threshold for application of the 3 percent points and fees cap to encourage additional lending in the form of smaller balance loans.

Mulvaney Wants Change Acting CFPB Director Mick Mulvaney’s recent words and actions reveal that changes to the QM rule are high on his priority list, which means they are likely to be high on the list of priorities for his nominated successor and former Office of Management and Budget colleague Kathy Kraninger.

“You’re going to see us try to bring some sanity to the largest market, including QM,” Mulvaney said at a May real estate conference. “If you think you can have a one-size-fits-all rule for every single mortgage, you don’t understand the mortgage business.”

In March, Mulvaney asked for public comment on regulations that the Bureau inherited from other federal agencies (Inherited Regulations) or issued under the authority of the DoddFrank Act (Adopted Regulations; including the QM rule). The comments it received, together with the comments the CFPB received in response to its 2017 solicitation of comments on the QM regulation, have built a foundation on which to recommend changes to the rule when its five-year assessment is due in January 2019. Summary The CFPB has broad statutory authority to amend the QM regulation through rulemaking if it chooses to do so. The signs all point to 2019 as the year in which regulatory change may begin.

While it could necessitate modifications to processes and systems, it also could mean more flexibility in mortgage lending and, ultimately, better pricing of mortgage loans

This article is reprinted with the permission of Real Trends Inc. Copyright 2018 PAGE | 2

Greater Downey Association of REALTORS®

Strategic Plan 2019-2020

The Leadership of the Greater Downey Association of REALTORS (DAOR) have met to update the strategic plan that guides the organization to reach its goals. The strategic plan was adjusted to guide us in giving even more products and services, and opportunities to get to know the leaders, and learn how to become a leader.

The strategic plan is divided into six core developments, Membership, Community Involvement, Advocacy Advancement, Education, Professional Development and Organizational Excellence.

•DAOR.com to be a “one source” website

•Positively impact our communities through campaigns and goodwill

•Focus on quality growth as much as quantity growth •Maintain a reality of relevance, efficiency, supportivness, professionalism, and a place of information, emphasizing on community and service •Maintain productive and lasting relationships with member brokers, agents, and affiliates •Increase communication to members in showing them areas of RAF, Education, Code of Ethics, Benefits and Services

•Provide city staff, legislators and community with market reports •Promote a good image of the local REALTOR •Increase the boundaries of community outreach

MEMBERSHIP -Greater DAOR to be the most reliable and accessible source of information to their membership.

Remain relevant and “Earn their membership”.

COMMUNITY INVOLVEMENT -Greater DAOR to create and support a meaningful relationship between Greater DAOR and the Community.

Providing to the community market statistics and issues, and education on the importance of using a REALTOR.

•Increase member benefits and service offerings •Provide speakers & events most desired and beneficial

•Help members in promoting their weekend open houses •Participate in the local high schools, job fairs, scholarships and education

PAGE | 3

ADVOCACY ADVANCEMENT Greater DAOR to educate and involve their members in advocacy efforts that advance the real estate industry.

•Conduct six events/projects 2 showing “act”, 2 showing “vote” and 2 showing “invest” •Educate members on REALTOR Action Fund and raise member contribution to 40% •Provide communication of PACs at all levels •Teach members how to be a part of Red Alerts and Calls for Action •Staff Outreach Legislative Updates and RAF Participation •Social Media all C.A.R. & N.A.R. Red Alerts and Calls for Action

•Share with public legislation and public policies REALTORS assisted with to help homeownership EDUCATION -Greater DAOR to strengthen the professionalism of their members by providing them with quality education for trade designations, MLS, real estate industry trends, and National Association of REALTORS Code of Ethics.

•Provide information on REALTOR Designations •Promote the idea of “Learn and Lead” •Conduct C.A.R. & N.A.R. Information Meetings •Provide education enhancing the members knowledge on all aspects of the real estate industry •Staff to be trained in many areas to conduct training in office outreaches

•Create a mentoring webinar series for new members to cover association structure, RAF, Code of Ethics, top producers and more PROFESSIONAL DEVELOPMENT -Greater DAOR to provide benefits to its members that will strengthen their ability to be more professional in their day to day business. Greater DAOR to strengthen the professionalism of the members.

•Implement a Leadership Academy and position volunteers who have graduated from the Academy •Publish ethics violation reports to show members what types of complaints, hearings and calls are being received •Increase education with the Code of Ethics and promote the benefits of ethical practice •Utilize the new building to emphasize growth

ORGANIZATIONAL EXCELLENCE -Greater DAOR is dedicated to provide the highest level of professionalism and honesty is safeguarding the best interest of Greater DAOR and the welfare of its members. Greater DAOR is dedicated to provide their members with a supreme level of services at the lowest possible membership cost.

•Maintain financial stability •Seek new revenue sources •Invest in technology to advance Greater DAORs social presence and the highest level of communication •Measure participation and effectiveness in products, services and events provided to the members to determine continuation •Work on relationship, leaders to have a closer relationships to the membership •Implement and invest in an Influencer Group

PAGE | 4

October LUNCHEON with assessor JEFFREY PRANG

PAGE | 5

FINAL MESSAGE FROM 2018 PRESIDENT ERICKA SAENZ Greetings Greater DAOR Members! As the Holidays approach us, I’m truly thankful for another opportunity to spend the holidays with my family and friends. Though many people consider the holidays to be about finding time to “unwind and relax”, half of my time will involve preparing my plan to open new business in the following weeks to have a successful new year in 2019. I am very blessed to have an understanding family. They know my success is their success too.

I am also thankful for the tremendous support of our DAOR members. Our membership numbers keep growing every day. We have over 3000 members! The Greater DAOR has made it possible to offer cutting edge applications like GLIDE and TAXBOT. We are also able to offer benefits to our members that other Associations don’t offer like FREE listings videos, Benefit Hub, 24 hr emergency cell phone access, exclusive Monthly Market Updates report and we are open SATURDAYS from 9-1!

Extremely excited because of your REALTOR Action Fund (RAF) donations, were able to surpass my original goal of 21%.... We hit 26%! Your RAF donations couldn’t have come at a great time. The RAF donations helped us promote and lobby a great challenge the Real Estate industry came across, defeating Rent Control. Thank you for taking initiative and talking to your Clients, Friends, and Family to go out and vote against Prop 10. Thank you, all your efforts worked!

To my Board of Directors, I’m a lucky girl to have been surrounded with great LEADERS. Dan, Rowena, Mario, Ruben, Michael, Maria, Maribel, Esther, Vicki, Luther and Remoun, “Thank You” for your commitment and all the hard work in making our Association a successful one.

I have been blessed with having an amazing staff to work with at Greater DAOR. Thank you Julie, Nelly, Violet, Amanda, Erika, Andrew, Susie and Selena. Each and every one of you is an essential part of the Greater DAOR dynamic. Please know that all your hard work is appreciated every day. Jeanette, you are truly the “HEART” of the Association. Thank you for all your hard work and accepting me into the Greater DAOR family with open arms. We definitely work well together getting things done. Doing things ethically correct and having the upmost professional attitude is your priority. No amount in the world could pay for the amount of love and care you have for the Association…….Thank You! Being your President for 2018, I’ve come to appreciate just how much work is being done by the DAOR to advance our careers as REALTOR’s and moving our industry forward at state and local levels. It has also opened my eyes to how anyone can do anything they put their mind to. I was brought up being told that “I can change the world”. I may not be changing the world, but I know I live everyday thinking how I can make the world a better place to live in, helping one client, one REALTOR, one friend at a time. Being Greater DAOR President has brought me many successes, new friends, and the chance to visit new places.

As this is my final article, Thank you for all your support! I am thankful I am to have been given the opportunity to serve as the 2018 President of the Greater Downey Association of Realtors. It has been an honor and privilege to serve. I have been blessed to be surrounded by amazing people. I hope you and your family have a wonderful, safe Christmas holiday.

I won’t cry because it’s over, I’ll SMILE because it happened!- Dr. Suess.

MESSAGE FROM EXECUTIVE VICE PRESIDENT JEANETTE BAUMANN Greater DAOR Members, It’s that time again, setting new goals, agendas, strategic plan, closing one year, and staring a new. Let’s recap 2018 - 2018 was very successful for reaching President Ericka Saenz’s goals, we exceeded the expected training levels, did not raise the membership dues, increased RAF by more than 5% more than anticipated, added two additional services (Glide and Remine), and increased our membership totals with 221 new REALTOR members.

Two new committees were formed in 2018, one called “REALTORS Advocating for Political Progress“ (RAPP) Committee….this committee has a mission to inform and educate the membership on the importance of the REALTOR Action Fund, it was chaired by Jesus Guerra. They had a successful year by enlisting 168 REALTORS to contribute to RAF who have never done so before. President Ericka’s goal of 21% was exceeded to 26%. The other new committee is the Oversight Committee, their mission is to take over the duties of the old nominating and awards committees, they also are in charge of addressing any topic or situation that the Board of Directors asks of them. This committee was chaired by Jackie Funk.

For 2019 we have two never before Directors starting their two year term, Jose Perez of Lotus Group, and Jesus Guerra of C21 A Better Service. Ericka Saenz will serve as our 2019 N.A.R. Director; Dan Nevarez, Ruben Sarinana, Michael Berdelis, Ericka Saenz, and Jose Perez will be representing Greater DAOR as state Directors at C.A.R. along with Mireya Ruiz who was appointed a leadership position, and Josue Barrios who was elected to serve as our C.A.R. Regional Representative.

President Dan Nevarez has set the goal high for RAF at 40% of you contributing towards RAF, after witnessing this year’s battles against rent control, we know you see the importance in contributing at least the lowest contribution amount of $20 annually. Dan has also changed his Installation Gala to include the annual Top Producer Presentation, normally done at RevItUp. RevItUp 2019 will include speaker, real estate coach Mike Ferry and is free to all Greater DAOR REALTOR Members.

Stricter rules will be implemented for REALTOR ethics violations designed to improve public trust; including new disciplinary tools for ‘egregiously unethical behavior’, and ‘Listing broker transparency’ requirements (written affirmation of offers being submitted) – More information to come.

N.A.R. introduced a new program empowering REALTORS to evaluate and enhance the highest levels of professionalism. REALTORS can get started with this program now www.C2EX.realtor “Commitment to Excellence” Program. Thank you for another year of Membership, we look forward to serving you again in 2019. Please email or call me for anything. evp@DAOR.com. 2019 will be a great year.

PAGE | 6

MARKET WATCH BROKERAGE MARKET WATCH BROKERAGE

CORELOGIC REPORT

CORELOGIC REPORTS AUGUST HOME PRICES INCREASED BY 5.5 PERCENT YEAR OVER YEAR • Homeowners waiting to sell, hoping to afford larger downpayment on next home • Nevada and Idaho were the only states to post double-digit annual price growth in August • Home prices projected to increase 4.7 percent by August 2019

Homeowners Expect Sale of CurrentREPORT Home to CORELOGIC Fund Downpayment for Next Purchase.

CORELOGIC REPORTS AUGUST HOME PRICES INCREASED BY households for each state. number of owner-occupied CoreLogic® recently released the CoreLogic Home Price rise inare mortgage this summer to their from highest level CoreLogic recently released the CoreLogic Home OVER Price“Theprices expectedrates to decrease by 0.4 percent August PERCENT YEAR YEAR Index5.5 (HPI™) and HPI Forecast™ for August 2018, which in seven years has made it more difficult for potential buyers ®

andboth HPI year Forecast for August 2018, which to September 2018. The CoreLogic HPI Forecast is a shows Index home (HPI prices )rose over year and month to afford a home, said Dr. Frank Nothaft, chief • Homeowners waiting to sell, hoping to afford larger shows home prices rose both year over year and month projection of”home prices calculated using theeconomist CoreLogic over month.

Home prices Homeowners Expect Sale increased nationally by 5.5 for CoreLogic.

“The slackening in demand is reflected in the downpayment on next home Home prices increased nationally by 5.5 HPI and other economic variables. Values are derived from percent yearmonth. over year August 2017. On a monthoofover Current Home to from • Nevada and Idaho were the only states of to post double-digit slowing national appreciation, as illustrated in the Corepercent year overfor year fromby August 2017.

On a monthstate-level forecasts by weighting indices according to the Fund Downpayment ver-month basis, prices increased 0.1 percent in August annual price growth in AugustLogic Home Price Index. National appre- ciation in August Purchase. over-month basis, increased byprices 0.1 percent number ofbyowner-occupied households for each state.

2018.Next (July 2018 data wasprices revised.

Revisions with public in re• Home projected to increase 4.7 2019 was the percent slowest inAugust nearly two years, and we expect apprecicords data are2018. standard, todata ensure CoreLogic August (Julyand 2018 wasaccuracy, revised. Revisions with ation to slow further in the coming year.” According to the incorporates the newly released publicHome data to public records data are standard, andPrice to provide ensure accuracy, “The by rise mortgage ratesIndicators this summer to their CoreLogic recently released the CoreLogic prices are expected to decrease 0.4in percent from August CoreLogic Market Condition (MCI), anhighest analysis of updated results each month.)

Index (HPI ) and HPI Forecast for August 2018, which to September 2018.

Thelevel CoreLogic HPI Forecast ishas a made it more difficult for potential CoreLogic incorporates the newly released public data to in seven years housing values in the country’s 100 largest metropolitan areas showsahead, home prices both year over and month projection prices calculated using the CoreLogic Looking therose CoreLogic HPIyear Forecast indicates thatof homebased provide updated results each month.) buyers to afford a home,”percent said Dr.ofFrank Nothaft, chief on housing stock, metropolitan areas over month. Home prices increased nationally by 5.5 HPI and other economic variables.

Values are derived38 from the national home-price index is projected to continue to economist for CoreLogic.

“The slackening in demand is an overvalued housing percent year over year from August 2017. On a monthstate-level forecastshave by weighting indices according to the market as of August 2018. The increase by 4.7 percent on a year-over-year basis from Auover-month basis, prices increased by 0.1 percent in number of owner-occupied households for each state.

Looking ahead, the CoreLogic HPI Forecast indicates that MCIreflected the slowing of national illusanalysis in categorizes home prices appreciation, in individual as markets gust 2018 August 2019. a month-over-month basis, Augustto 2018.

(July 2018 data On was revised.

Revisions with as undervalued, at value or overvalued, by comparing home the national home-price index is projected to continue to trated in the CoreLogic Home Price Index.

National apprerates this summer to their highest homepublic records data are standard, and to ensure accuracy, “The rise in mortgage toit their long-run, sustainable levels, are supportincreaseincorporates by 4.7 percent onreleased a year-over-year from August ciation in difficult August the slowest in nearlywhich two years, and we the newly data tobasis in seven yearsprices has made more forwas potential pricesCoreLogic are expected to decrease by 0.4public percent fromlevel Auprovide results each On month.) afford a ed home,” said Dr. market Frank Nothaft, chief byexpect local fundamentals (suchinasthe disposable income).

2018 updated to August 2019. a month-over-monthbuyers basis,tohome appreciation to slow further coming year.” gust to September 2018. The CoreLogic HPI Forecast is a for CoreLogic. economist “The slackening demand is2018, 18 percent of the top 100 Additionally, as ofinAugust Lookingof ahead, the CoreLogic HPI Forecast indicates that CoreLogic reflected in the slowing of national appreciation, as illusprojection home prices calculated using the metropolitan areas were undervalued, and 44 percent were the national home-price index is projected to continue to derived trated from in the CoreLogic Home Price Index. National appreHPI and other economic variables.

Values are Figure 1: National Home Price Change HPI When Percentage Change Year over Year at value. looking increase by 4.7 percent on a year-over-year basis from August ciation in August was the slowest in nearly two years,at andonly we the top 50 markets based on state-level forecasts by weighting indices according to the 2018 to August 2019. On a month-over-month basis, home expect appreciation to slow further in the year.”were overvalued, 12 percent were housing stock, 46coming percent ™

™

®

™

Figure 20%

™

1: National Home Price Change

HPI Percentage Change Year over Year

15%

20%

10% 15% 10%

5%

5%

0%

0%

5.5%

5.5%

-5% -5%

Increase August 2018

-10%

-10%

-15%

-15%

-20%

2004

-20%

2005

2004

11

2006

2005

Source: CoreLogic Q2 2018

11PAGE | 7

2007

2008

2006

Source: CoreLogic Q2 2018

2009

2007

2010

2008

2011

2009

2012

*Including Distressed Sales

2013

2010

2014

2011

2015

2012

2016

2017

2013

2018

2014

© CoreLogic, Inc. All rights reserved

*Including Distressed Sales

under-valued and 42 percent were at value. The MCI analysis defines an overvalued housing market as one in which home prices are at least 10 percent higher than the longterm, sustainable level.

An undervalued housing market is one in whichIncrease home prices are August 2018 at least 10 percent below the sustainable level.

In 2018, CoreLogic together with RTi 2015 2016 2018 Research of2017 Norwalk, Connecticut, conducted an extensive consumer © CoreLogic, Inc. All rights reserved

are supported by local market fundamentals (such as disposable income). Additionally, as of August 2018, 18 percent of the top 100 metropolitan areas were undervalued, 44 percent were at value. housing sentiment study, and combining consumer and When proplooking at only the top 50 markets based on housing erty insights. The study assessed attitudes toward homestock, 46 percent were overvalued, 12 percent were ownership and the drivers of the home buying or renting under-valued and 42 percent were at value.

The decision process. August data indicates that, while homeMCI analysis defines an overvalued housing market as one prices are cooling, they are still rising in most markets. in which home prices are at least 10 percent higher Home sales are down in some metros, in part because sellthan the long-term, sustainable level. An undervalued ers believe prices will continue to rise and that by waiting, housing market is one in which home prices are at least they can sell 10 their homes for a better price. Many intend to percent below the sustainable level.

use proceeds from the sale of their current home to fund the downpayment their next home.with Sixty-six percent of In 2018,ofCoreLogic together RTi Research of Norwalk, homeownersConnecticut, who are considering buying in the next 10 conducted an extensive consumer housing years will need to sell their current homes to finance their

from the sale of their current home to fund the downpayment of their next home. Sixty-six percent of homeowners who are considering buying in the next 10 yearsone. will need to sell their to finance their next Meanwhile, 35 current percenthomes of recent homebuyers said next one.

Meanwhile, 35 percent of recent homebuyers they used funds from the sale of their previous home to said they used funds from theofsale of their previous home finance the downpayment their current home. to finance the downpayment of their current home.

“In some markets, homebuyers and sellers are remaining

cautious and taking a pause as price appreciation continues some markets, homebuyers and sellers are remaining to“In rise, ” said Frank Martell, president and CEO of CoreLogcautious and taking a pause as price appreciation ic. “By waiting to sell, homeowners believe they will get the continues to rise,” said Frank Martell, president and CEO greatest return on their investment; the more money they of CoreLogic. “By waiting to sell, homeowners believe they have forthe a downpayment, the easier the purchase payments will get greatest return on their investment; the more will be for their next home. ” money they have for a downpayment, the easier the purchase payments will be for their next home.”

COVERAGE FOR ALL THE THINGS YOU CARE FOR

This article is reprinted with the permission of Real Trends Inc. Copyright 2018

Table 1: Home Price Change and Market Conditions for Select Metropolitan Areas Select Metropolitan Areas

August 2018 12-Month HPI Change Year over Year Single-Family

Market Condition as of August 2018

Las Vegas - Henderson - Paradise NV Metropolitan Statistical Area

13.7%

Overvalued

San Francisco - Redwood City - South San Francisco CA Metropolitan Division

9.8%

Normal

Los Angeles - Long Beach - Glendale CA Metropolitan Division

7.4%

Overvalued

Denver - Aurora - Lakewood CO Metropolitan Statistical Area

7.4%

Overvalued

Houston - The Woodlands - Sugar Land TX Metropolitan Statistical Area

5.0%

Boston MA Metropolitan Division

4.9%

Normal

Miami - Miami Beach - Kendall FL Metropolitan Division

3.5%

Overvalued

Chicago - Naperville - Arlington Heights IL Metropolitan Division

3.4%

Normal

Washington - Arlington - Alexandria DC - VA - MD - WV Metropolitan Division

2.9%

Overvalued

0.8%

Overvalued

■ Call for a Farmers Friendly Review ■ More options. More discounts.

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New York - New Jersey - White Plains NY - NJ Metropolitan Division

Overvalued

®

COVERAGE COVERAGE COVERAGE FOR ALL THE THINGS FOR ALL THE THINGS FOR ALL TH YOU CARE YOU CARE F YOU CARE FOR FOR FOR ALL THE THINGS

Your Local Agent CA License # 0L84294 5720 IMPERIAL HWY STE M, SOUTH GATE, CA 90280 For more information on CoreLogic and this report: CLICK HERE EHURTADO@FARMERSAGENT.COM COVERAGE

Source: CoreLogic Q2 2018

*Including Distressed Sales

© CoreLogic, Inc. All rights reserved

** The forecast accuracy represents a 95-percent statistical confidence interval with a +/- 2.0 percent margin of error for the index

12

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Elizabeth Hurtado Agency Agency Elizabeth Hurtado

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YOU CARE FOR

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PAGE | 8

IN 2018, I SURVIVED SERVING ON A

GREATER DAOR COMMITTEE Hector Benavidez

It’s always been my passion to help others in need and once I received the opportunity from Jeanette to serve on the Scholarship Committee, I didn’t think twice. What a great way to help our young community and to be part of a very nice cause. By being involved in the Committee, you get to surround yourself with people that really care for the betterment of others. It was a great pleasure to serve at the Greater DAOR and I really encourage all of you to do the same at some point.

Alex Sanchez Serving on a Greater DAOR committee has been a great experience! I am honored that I had the chance to get involved in serving the REALTOR community. This experience made me realize the importance of the Association’s structure and how everyone who participates adds valuable input into the decisions and agenda of Greater DAOR. I thank all of my fellow committee members for their effort and appreciation of the Association, I am grateful to have served with everyone this year.

Lourdes Galvez I am passionate for helping others so I am grateful to be part of the LGR committee. This past year has been very successful with new policies being drafted that will benefit the real estate industry. I feel that being part of this committee gave me the opportunity to serve and I would encourage all Greater DOAR REALTORS to get involve, especially in policies that directly affect our industry and make a difference. Register to vote and get informed about Propositions that are devastating to our clientele and ourselves. I am looking forward to serve at any capacity for another year.

Daniel Andrade I didn’t know what to expect when I joined the Community Relations Committee this year, but after the first committee meeting, I was excited about all the plans and events we were going to do. I got to participate in events to improve Downey and the surrounding cities. We got involved in the park clean ups, the clothes and food drives, the senior luncheon and the Christmas toy drive. We get to make a difference and help people, all while building friendships with agents from other offices, and as this year comes to an end, I can say I am proud of what we accomplished and I’m eagerly looking forward to what is coming up next year. It’s not just about selling real estate, we also have a responsibility to make the neighborhoods where we work and live a better place. You should get involved, sign up and join a committee. The Greater DAOR committees are fun.

PAGE | 9

ELECTION Results PROP 5 & PROP 10

PROPOSITION 3: NO

PROPOSITION 4: YES

PROPOSITION 1: YES

PROPOSITION 2: YES

PROPOSITION 5: NO

PROPOSITION 6: NO

PROPOSITION 7: YES

PROPOSITION 8: NO

PROPOSITION 9:

PROPOSITION 10: NO

PROPOSITION 11: YES

PROPOSITION 12: YES

Authorized bonds to fund specified housing assistance programs.

Changed requirements for certain property owners to transfer their property tax base to replacement property.

Authorizes bonds to fund existing housing program for individuals with mental illness.

Eliminated certain road repair and transportation funding.

Requires certain fuel taxes and vehicle fees be approved by the electorate.

*On July 18, 2018, ProposiExpanded local governments’ tion 9 was removed from the authority to enact rent control ballot by order of the Calion residential property. fornia Supreme Court.

Authorized bonds to fund projects for water supply and quality, watershed, fish, wildlife, water conveyance, and groundwater sustainability and storage.

Conforms California Daylight Saving Time to federal law.

Allows legislature to change daylight saving time period.

Required private-sector emergency ambulance employees to remain on-call during work breaks.

Authorized bonds funding construction at hospitals providing children’s health care.

Regulated amounts outpatient kidney dialysis clinics charge for dialysis treatment.

Establishes new standards for confinement of specified farm animals; bans sale of noncomplying products.

PAGE | 10

CELEBRATING THE MEMBERS WHO HAVE BEEN WITH US FOR 20, 25, 30, 35, 40, 50, AND 56 YEARS!

DEDICATED TO ORGANIZED

REAL ESTATE

The Greater Downey Association® honor a few members who celebrated the number of years as professional REALTORS®.

Congratulations to the Following REALTORS receiving thier REALTOR pin.

Sole Gutierrez - 20 Nahed Benyamein - 30 Mary Ellen Brady - 30 Carrie Uva - 25 Dale Jervis - 35

SENIOR SOCIAL - GIVING BACK TO THE COMMUNITY On October 31, 2018, Greater DAOR hosted the Senior Social event where local seniors were treated with breakfast and entertainment, we also took a moment to honor all the local veterans that were in attandance. Special guest James Kruk, our Elvis Presley impersonator, took the stage singing a couple of hits! Also, congratulations to all of our costume winners who participated in our costume contest!

PAGE | 11

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PAGE | 12

Meet Your 2019 Board of Directors

Daniel Nevarez President

Ruben Sarinana President-Elect

• What year did you get licensed? 1989 • Favorite part of your profession? The ability to decide what you want to earn.

• Last book read? Never Split the difference (Chris Voss) Great book.

• What Advice would you give to a new REALTOR? Learn from the agents that are where you want to be in the future and be open minded.

• What do you do on your free time?

Invest time with my 3 girls.

• He was almost bitten by a Rottweiler on a home inspection. “ I was lucky the owner saved me”.

• What year did you get licensed? 37 years of experince (I started when I was 10) • Favorite part of your profession?

Seeing a new agent achieve success, watching them plan, work the plan, and see thier plans come to fruition.

• Last book read? Good to Great-Why Some Companies Make The Leap by Jim Collins.

• Best real estate experience? Working hard and finally achieving the Century 21 Centurian award. Managing 3 different offices into the top 10 in the nation for Century 21

Jose Perez

Maribel Chavez

Director

Director

• What year did you get licensed? 2007 • Favorite part of your profession?

Being able to help a family with their dreams to own a home.

• Last book read? Rejection Proof: How I Beat Fear and Became Invincible Through 100 Days, Book by Jia Jiang.

• What advice would you give to a new REALTOR? Do not take it personal.

• What do you do on your free time?

Travel.

•What year did you get licensed? Real Estate License in 2012. Broker License in 2016.

• Favorite part of your profession? Having a positive impact on all our agents & Clients and watching new people that have never done sales before grow into professionals.

• Last book read? The Greatest Salesman in the World.

•What advice would you give to a new REALTOR? Always remain a student. Once you think you know it all is where you would have messed up. We never stop growing and learning. Stay consistent and don’t quit.

Quitters never win and winners never quit!

•What do you do on your free time? I like going to the movies in my free time and catching the latest action & comedy movies.

Esther Lee

Jesus Guerra

Director

Director

•What year did you get licensed? 2001 • Favorite part of your profession?

Getting to know & understand my clients more closely and being able to help achieve their life goals • Last book read? Heaven is for Real •What advice would you give to a new REALTOR? Find a mentor who can teach you the ropes and help you build the right foundation for a long lasting career • What do you do on your free time?

Cooking, hiking, spending time at the lake with family & furkids

PAGE | 13

• What year did you get licensed? 2005 • Favorite part of your profession?

Favorite part is meeting new people, families and getting the opportunity to bless them in either helping them buy a home or sell their house.

• Last book read? Mamba Mentality (Kobe Bryant) • What advice would you give to a new REALTOR? Study your Contracts and learn your craft, Scripts, Analyze current Market conditions, take Top Producers out to lunch and pick their brains. Apply and adjust to know what you are good at.

• What do you do on your free time?

Run, Run and Run, Learn Theology, Take pictures and film.

Learn More About Who Represents You

Michael Berdelis Vice President

Maria Lilley Treasurer

• What year did you get licensed? 1998 • Favorite part of your profession?

Helping a buyer get the home of their dreams.

• Last book read? The Tipping Point by Malcom Gladwell • What advice would you give to a new REALTOR? Do as many open houses as you can when you’re first starting!

Be consistent with whatever you do!

• What do you do on your free time?

Golfing, running and spending time with my family.

• What year did you get licensed? 2009 • Favorite part of your profession?

Helping clients achieve their home ownership goals whether it’s their first home or their dream home.

• Last book read? The Power of Ambition Jim Rohn.

• What advice would you give to a new REALTOR? My advice to a new REALTOR would be that they place their goals on paper and look at them daily. They should work from a planner, stick to the plan and hold themselves accountable.

•What do you do on your free time?

On my free time I enjoy going on morning hikes and bicycling, reading books, and riding my motorcycle.

Luther Sanchez

Remoun Said

Director

Director

• What year did you get licensed? 2005 • Favorite part of your profession?

Being invited back for home warming parties • Last book read? “21 Irrefutable Laws of Leadership” • What advice would you give to a new REALTOR? Find a mentor for the first year of the business • What do you do on your free time?

Travel

Carrie Uva

•What year did you get licensed? 1997 • Favorite part of your profession?

Handing keys to buyers or closing checks to sellers.

• Last book read? CRUSHING IT •What advice would you give to a new REALTOR? Avoid distractions (market, unproductive agents, etc.)

• What do you do on your free time?

Raise kids, travel

Ericka Saenz

Director

Immediate Past President • What year did you get licensed?

25 years of experience • Favorite part of your profession?

Handing the keys to buyers • Best Real Estate experience? Becoming president of Greater DAOR in 2016 • What advice would you give to a new REALTOR? Don’t be afraid to ask for new business • What do you do on your free time?

I spend my free time cooking and entertaining

•What year did you get licensed? 2004 • Favorite part of your profession?

Building relationships for life • Last book read? Brian Buffini “The Emigrant Edge” how to make it big in America •What advice would you give to a new REALTOR? Follow a schedule. Having structure is very important in our industry to be able to succeed • What do you do on your free time?

Aside from catching up on my recorded shows on my DVR, I love spending time with my children and catching up with friends in a social setting

PAGE | 14

REV IT UP

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5:00PM-7:30PM DOWNEY THEATRE

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WE WANT TO THANK OUR REV IT UP SPONSORS

PAGE | 15

CONGRATULATIONS 2018 SILVER BEAR CONTRIBUTORS

Greater DAOR would like to thank all of the Silver Bear contributors. California Silver Bears are members who contribute $449 and above to the REALTOR Action Fund. Thank you!

Jose Perez Joe Villaescusa Mireya Ruiz Ericka Saenz Eloy Villamil

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