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Issue 24 | Volume VI

June 15, 2007

In This Issue

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SAMCAR is accepting applications for Board of Directors. There are five REALTOR® seats (three-year terms) and one Affiliate seat (two-year term) open.

Features Federal Issues Update ..........page 1 Ethical Dilemma #5 .............page 3 Welcome New Members from May ...page 3 Announcements SAMCAR Director Position Openings .............page Annual Charity Golf Tournament ................page Women’s Council of Realtors Events Calendar ...page SF PUC Hetch Hetchy Right of Way Forum ........page

SAMCAR Director Position Openings!

Application Deadline: June 29, 2007

The election will be held in August. For requirements and responsibilities of a SAMCAR Board Member, as well as an application form, go to:

1 2 2 2

Calendar Tours & Events Calendar .........page 4

REALTOR® Director Application/Requirements http://www.samcar.org/UserFiles/File/Board_Of_Directors_Candidate_Application_2007.pdf

Affiliate Director Application/Requirements http://www.samcar.org/UserFiles/File/Affiliate_Director_Candidate_Application_2007.pdf

Government Affairs Update

Federal Issues Update During these last couple of weeks, which included our annual Legislative Day, the focus has been on many bills under consideration in the State Legislature. As we noted last week, two bills C.A.R. opposed, AB 239 (authorizing an increase in recordation fees) and AB 1574 (requiring the disclosure of private transfer taxes), passed out of committee. Fortunately, SB 464, which sought to amend the Ellis Act by requiring a longer notice period to tenants, was defeated. At the federal level, C.A.R. and NAR are working on a number of important pieces of legislation and issues. Following is a brief summary.

GSE Reform

During the 109th Congress, the House passed H.R. 1461, which would overhaul the Government Sponsored Enterprises (GSE) of Freddie Mac and Fannie Mae. These reforms would restructure the regulations on

Pictured above are SAMCAR Directors, members and staff who traveled to Sacramento for this year’s Legislative Day.

GSE and included a C.A.R.-sponsored provision that would allow the new GSE regulator to set high-cost conforming loan limits by an area’s median home price, up to 150 percent of the national conforming loan

limit. However, during the 109th session, the Senate failed to take action on GSE oversight. C.A.R. wants Congress to pass legislaSee Federal Issues, continued on Page 2


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FACTS FLASH | June 15, 2007 Federal Issues — from Page 1

tion that will raise the conforming loan limit in high-cost areas for Fannie Mae and Freddie Mac so that low- and moderate-income homebuyers and first-time homebuyers may benefit from access to lower-interest rate conforming loans. Additionally, GSE reform should: create an independent regulator not overseen by the U.S. Treasury Department, place no statutory limit on the GSE’s portfolio size, and not implement a “Bright Line” provision that would limit the GSE activity to strictly the secondary market, but instead allow the regulator to monitor and define the GSE activity within the guidelines of their charters. GSE reform is long overdue. After months of scrutiny concerning Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, C.A.R. and NAR believe it is time to expand oversight of these programs to allow them to grow their efforts to assist in homeownership and allow the regulators to make sure the portfolios maintain stability.

FHA Reform

In the 109th Congress, the House was able to pass H.R. 5121, the Expanding Homeownership Act of 2006. However, Senate companion legislation, S. 3535, was unable to make it out of committee. Every member of California’s Congressional Delegation, with one exception, voted to support FHA Reform in the 109th Session. C.A.R. hopes they will encourage leadership to quickly pass similar FHA Reform legislation in the first session of the 110th Congress. C.A.R. is asking for Congress to pass FHA Reform that includes: (1) increasing the FHA loan limits to 100 percent of the conforming loan limit (2) allowing FHA to set their insurance premiums using risk-based pricing (3) treating all condo units as single-family units (4) insuring zero-down mortgages (5) insuring 40-year mortgages. These reforms are needed in order to make FHA loans a more viable option for the expanding ranks of American homeowners. In 1999, the FHA insured approximately

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SF PUC

Annual Charity

*Golf Tournament* Join us at SAMCAR for a SF PUC meeting to discuss Hetch Hetchy Right of Way. Speaker will be MAUREEN BARRY

Please contact Beckie Patane, SAMCAR Event Coordinator, at 650/696-8220. Donations are needed by July 2nd to properly acknowledge all donors in event signage and programs.

San Francisco Public Utilities Commission (SF PUC) Communication Office Right of Way Group.

To Become a Hole Sponsor

The full House Appropriations Committee is expected to consider the FY2008 Financial Services and General Government funding measure on June 11, 2007. Should you have any questions about these issues, please contact your Government Affairs staff at 650/696-8200.

All events will be held at the 200 Redwood Shores Parkway, Redwood Shores, CA 94065 650.593.4900

RSVP, Questions, or Comments amanda.h.cooper@wellsfargo.com 650/513-5545 Free valet parking for members and guests Check in/Breakfast begin at 8:30 a.m. Seminar at 9 AM to 10 a.m.

Thursday, June 21

Thursday, August 23

illo credit: Dalen gilbrech

For Tickets

Click here for the registration flyer

On June 5, 2007, the House Appropriations Subcommittee on Financial Services and General Government approved a one-year provision prohibiting the Federal Reserve and Treasury Department from finalizing the rule allowing banks to engage in real estate brokerage.

Guest Speaker: Kelly Carpenter Topic: Service & Leadership in every industry Sponsor: First American Title Company

Click here for the information flyer

Click here for the information flyer

Banks out of Real Estate

Pacific Athletic Club

~ To Donate~ Raffle and Auction Items

To Advertise in the Program

127,000 homes bought in California. In 2005, that number dropped to roughly 5,000. By passing this FHA Reform, tens of thousands more California home buyers will have access to FHA home loans every year. This will save buyers thousands of dollars that would otherwise be spent on subprime or alternative mortgage products

JunE 12:00

Link:

http://www.samcar.org/UserFiles/File/SFPUC07_flyer.pdf



Guest Speaker: Jerry Hill Board of Supervisors, San Mateo County, District 2 Topic: A Mid year report and looking forward to 2008 & beyond Sponsor: Smalltown, Inc.


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FACTS FLASH | June 15, 2007

Dilemma 5: Can You Write Me an Offer?

Ethical Dilemmas Realtors Can Face

“REALTORS® shall not engage in any practice or take any action inconsistent with the exclusive relationship recognized by law that other REALTORS® have with clients.” (Article 16)

(Last in a series)

It is the duty and responsibility of every REALTOR® member of SAMCAR to abide by the “Code of Ethics” of the National Association of REALTORS®. The term “REALTOR®” is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics. Here is another dilemma a Realtor® could face and advice from Sharon Steele, 2007 chair of NAR’s Professional Standards Interpretation and Procedures Subcommittee, and other ethics experts on how to respond. This excerpt is taken from “5 Everyday Ethical Dilemmas,” an article written by Buck Wargo, in a recent publication of REALTOR® Magazine Online.

The Scenario The Risk

You are representing clients who want to sell their home quickly so they can move into their new home. You get a call from a prospective buyer who says that he’s already viewed the property and would like to make an offer immediately. He asks for you to write the offer. The buyer may already be represented. If he’s represented, encourage him to submit an offer through his agent. Also, the buyer should be made aware that he may have contractual obligations to the buyer’s agent, says Lublin, vice-chair of the NAR’s Professional Standards Committee. In most cases, the buyer’s agent can be owed a portion of the sales commission.

What to do

If the buyer is unable to work through his agent, and still demands that an offer be written immediately, your duty as the listing agent is to follow through with the request, Lublin says. After writing the offer, contact the buyer’s agent and let that person know what’s going on, and let them know they’ll receive commission from the deal as set out on the buyer’s rep contract. “It’s good to do the right thing,” Lublin says. “You sleep so much better and feel so much better. The people I know who are successful in business are always extremely ethical. I don’t see that it has any kind of negative impact on anybody.”

Source: REALTOR® Magazine Online

Welcome New Members

The Following New Members Joined in May 2007

Realtors Gary D. Andreacchi Prudential California Rlty FHD

Deborah Elowson Coldwell Banker

Arman Arami Prudential California

Lidija Rebic Prudential California

Jeanne Gallagher Prudential California Rlty FHD

Katrin Kaukull Century 21 Alliance John Kevranian Tazian Associates Inc.

Julie Baumann Prudential California Rlty FHD

Cynthia K. Haupert Rupert Taylor R.E.

Andy Lau Prudential California

Marcio Schwartz Prudential California

Michelle Bodley Prudential California Rlty FHD

Josh Heavenston Intero Real Estate Services

Bradley Shepherd RE/MAX Today

Anthony J. Cortez Alain Pinel Realtors

Susana Ibarra Maxwell Properties

Buzz Lawrence Alain Pinel Realtors MiMi Li Prudential California

Lottie S. dela Pena CARTESI Real Estate & Mortgage

Jerry Jen Grace Realty Investment Inc.

Celina G. Mc Wherter Carey Realty

Karen Wong-Curtis Prudential California

Randy Doleschal Coldwell Banker

Mostafa Karimabadi BayCal Realty Corporation

Cynthia Moscaret Prudential California Rlty FHD

Doreen Yu ERA Golden Gate Properties

Robert Santos Prudential California

Eva E. Voisin Realty World Martinelli Prop.

Affiliates Phil Caulfield RMC Real Estate Loans



Christopher Corvi Washington Mutual

Lorraine Haddock RMC Real Estate Loans

Michael C. Peterson Bankers Preferred


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FACTS FLASH | June 15, 2007

JUNE 2007 Events & Tour Calendar Date/Time June 28 & 29 8:30 a.m. – 5 p.m. (both days)

July 11 9 – 10:30 a.m.

July 11

2 – 5 p.m.

July 12 8 a.m – 5 p.m.

Description/Registration

CRS 200

Business Planning & Marketing for the Residential Specialist

Learn the fundamentals of business planning, how to identify the benefits of a business plan, develop income goals using the budgeting process, and create a marketing plan to meet your goals and objectives. Location: SAMCAR Cost: $325 | Registration: http://www.samcar.org/calendar/ or 650/696-8200

e-PRO® Workshop: Sharpen your e-skills!

In today’s fast-paced world of real estate, you need to become an Internet professional with e-PRO®. Learn invaluable tech tips and how e-PRO® will benefit you, plus receive a $25 discount for your e-PRO® course enrollment! Instructor: Saul Klein | Location: SAMCAR | Cost: FREE Registration: 866/377-6627; http://ePROworkshop.InternetCrusade.com

PRDS Contract Update (from The Silicon Valley Association of Realtors®)

Learn about the substance and content of the PRDS forms, how to go from A to Z when using theformsandwhatyoushouldbedoingandnotdoing. Plushintstohelpyouusetheformsonline. Instructors: David Zigal, PRDS Forms Committee Chair, and Bryant McOmber, PRDS Attorney Cost: $20 | Location: SILVAR, 19400 Stevens Creek Blvd., Suite #100 Cupertino, CA 95014 Registration: 408/200-0100 or http://www.silvar.org/

GRI

“Agency Relationships, Duties and Disclosures/ Ethics, Professional Conduct and Legal Aspects”

Location: SAMCAR | Cost: $149 Registration: Professional Realty Institute http://www.eDesignations.com or 888/785-4800

July 13 9 a.m. – 4 p.m.

SRES (Seniors Real Estate Specialist)

July 23

SAMCAR Annual Charity Golf Tournament

10 a.m. Registration 12 p.m. Shotgun Start 5 – 6 p.m. Social Hour 6:30 p.m. Dinner

Su Mo Tu We Th Fr Sa 10 11 12 13 14 15 16 17 18 19 20 21 22 23

1 Day Live and 1 Day Online course for the SRES Designation. Understand generational differences. Learn how to make informed recommendations for retirement options. Instructor: Joanna Phillips (Power Training) | Location: SAMCAR | Cost: $399 Registration: 800/918-9637; www.realestatepowertraining.com

Spend an entire day with golfing, lunch, dinner, awards, raffle and a live and silent auction. Proceeds benefit HEART (Housing Endowment and Regional Trust) Location: Peninsula Golf & Country Club, 701 Madera Drive in San Mateo Information: http://www.samcar.org/index.cfm/2007_special_events.htm

July 25 8:30 a.m. – 12:30 p.m.

Foreclosures “What All Agents Should Know About Foreclosures”

July 25 1:45 – 5 p.m.

Short Sales “What’s Up In Our Market?,” “What You Need To Know To Help Your

Instructor: Duane Gomer | Location: SAMCAR | Cost: $99 in advance, $120 at the door. Registration: http://www.samcar.org/calendar/ or 650/696-8200

Clients,” and “Getting Started And Finding Clients.” Instructor: Duane Gomer | Location: SAMCAR | Cost: $60 in advance, $70 at the door. Registration: http://www.samcar.org/calendar/ or 650/696-8200

https://www.samcar.org/index.cfm/newsletter.htm?viewcurrent



Marketing Meetings Tuesday, June 19 8:30 a.m. Central Tour

SAMCAR 850 Woodside Way, San Mateo Speakers: Top Producer Panel featuring Michael Horwitz (Prudential Fine Homes) Patty Dwyer (Cashin Company-Burlingame) Michael Hirner (McGuire Real Estate) Topic: Changes in the Marketplace

8:30 a.m. South Tour

Veterans Memorial Building 1455 Madison Avenue Redwood City Speaker: Ed Diaz Topic: Credit Score Improvement

8:30 a.m. North Tour

SSF Municipal Building 33 Arroyo Drive, South San Francisco Speaker: Jenevene Gular (Fidelity National Title) Topic: Multicultural Marketing

9 a.m. Half Moon Bay Tour

Community Center 535 Kelly Avenue, Half Moon Bay

9:30 a.m. Pacifica Tour

Community Center 540 Crespi Drive, Pacifica

MLS Tour Sheet Deadline Reminder Broker/Property tours are on Tuesdays.

Corrrection: The deadline for adding tours in the MLS is A 11 story the probate process in last a.m. about on Mondays. week’s issue of FactsatFlash identified The tour sheet isthe available www.samcar.org Jennifer Tasto as a Public Guardian. She by Monday afternoon actually worksare forsubject the to Public Entry deadlines changeGuardian for holidays. as one of their four real estate agents in For Monday holidays, the tour deadline is the theprior county. Flash apologizes FridayThe at 11Facts a.m. for the error.

FACTS FLASH is published weekly by the San Mateo County Association of REALTORS®,850 Woodside Way,San Mateo,CA 94401 and distributed to more than 3,000 recipients. Copyright ©2007, all rights reserved. Phone (650) 696-8200, fax (650) 342-7509 or email your questions or comments at newsletter@samcar.org

SAMCAR Facts Flash  

Weekly Newsletter of the San Mateo County Association of REALTORS - June 15, 2007