Power Woman of Property
RENTALS ON THE RISE
THE ART OF HOME STAGING
TIPS FOR BUSY BUSINESS WOMEN
VOL. 2 / ISSUE 1
N Magazine | 1
“A well-oiled machine to make everything happen on time.” -Carmen Scherubel, Realtor ERA J. Tidwell & Associates
SIMPLIFYING & EXPEDITING ESCROW SINCE 2004 2 | N Magazine
Call (949) 660-0050 Today
KNOWLEDGE IS POWER. BE POWERFUL WITH HOUSINGWIRE.
NAWRB members receive a special rate of ONLY $99 for 12 issues. Subscribe today at HousingWire.com/Subscriptions
These days, you need to be on top of the latest news and developments if you want to succeed in business. Fortunately, HousingWire Magazine is there for you. The top choice of leading movers and shakers in the housing market, each issue, written by our dedicated team of awardwinning journalists, delivers truly unmatched business insights into today’s market by providing an authoritative view into one of the most critical sectors of the U.S. financial world. Read by over 25,000 professionals each month, HousingWire Magazine provides an in-depth look at the people, issues, and data that make mortgages and finance tick.
Take advantage of this special deal, offered exclusively to members of NAWRB, and receive 12 monthly issues for only $99 when you enter your subscription order by December 31, 2012. With your subscription, you’ll also receive access to our online web portal, HousingWire.com, where you’ll find up-to-the-minute breaking news alerts, current data, and even a fully digital version of the magazine. To enter your subscription, or to give the gift of HousingWire to a friend or colleague, just visit HousingWire.com/subscriptions
HousingWire Magazine Making sense of the real estate economy.
N Magazine | 3
TABLE OF CONTENTS
TABLE OF CONTENTS MAGAZINE VOLUME 2/ ISSUE 1
The Board of directors
18 a renters world why the rental industry is booming in the rebound. by carina calhoun 28 CEO centerfold: lisa ristow the broker and owner of the ristow group, committed community volunteer and devoted mother, takes the spotlight and shares her story. by carina calhoun 32 the importance of staging strategically staging a property can make the difference in landing a buyer. by carina calhoun 36 meet the board meet the ladies that make up NAWRBâ€™s 2013 board of directors and associated chairs.
32 4 | N Magazine
raising the bar chief strategist of inman news, katie lance, sits down with clara shih, CEO of one of the hottest social media companies in silicon valley. by katie lance
department 10 SHE IS CHANGING REAL ESTATE the real estate roundup: NAWRB’s newest members, subscribers, renewals and certifications.
22 rules and regulations the combination of many regulations being issued at ones brings complexity to the industry. by debra still, CMB
12 infographic: technology for the first time, the largest homebuyer age group is 25 to 35 and top producing companies are catering to this demographic with technology.
24 facing foreclosure? the protecting tenants at foreclosure act was extended to december 2014 to bring relief to tenants facing this misfortune. by joan jackson
14 app map be on top of the latest reports with these news application sources.
26 partnering up to empower Women Impacting Public Policy partners with the SBA and American Express OPEN to help women-owned businesses. by barbara kasoff
15 property tours take a peek into the two-story, five-bedroom, castle rock, colo., property for sale. compiled by jackie andoniu 16 housing market: mid -year report the housing market is a fundamental element to the U.S. economy. by christopher thornberg
38 N crowd join the conversation: what do you look for in a women’s magazine? 44 SWAN out of their offices and into the field, where NAWRB members can be seen and heard.
what women want health, fashion, recipe and review: the go-to guide into a woman’s world.
three most “The important things I look
for are: networking, leadership, education.
- Pat Quan-Koch
on the cover: Real estate resort area broker/owner, Lisa Ristow, shares her story of her small town roots with big dreams to be a power women of property. N Magazine | 5
NAWRB STAFF & BOARD
Publisher/CEO Desirée Patno Desirée.Patno@NAWRB.com Editor-in-Chief Carina Calhoun Carina.Calhoun@NAWRB.com
VOL. 1 / ISS INF UE 3 OR SPEC MING HOUSIALIZINGWOME N ING IN ECON THE OM Y The Officia Pub l lica of NA tion WRB
DE DIVCISION ERS T IFY O e of th p7 rn Inte Outsideknown p ect Proj to Jum the Un How and Into Box
Media & Member Specialist Lauren Felechner Lauren.Felechner@NAWRB.com
ps Cam ta Oil Man Dako p21 North towns me e Ti Boom Spar uses My Ho y of llow Diar ing Ye p41 Build sta Rica in Co
Director of Membership Alex Hernandez Alex.Hernandez@NAWRB.com CONTRIBUTORS Christopher Thornberg Katie Lance Debra Still Joan Jackson Barbara Kasoff
Shrin Case king Ci ties Reha Studies in bilita tion Urban and Hous Deve lopme Womeing Re fo nt p1 from n May rm is 1 Ke be the Conv Absen y t ersati OH! on p7 REO, FOR ART REO! W A loo THOU HE , RE RE what k at wh O? o’s acco unts got
Graphic Designer Samantha Cauguiran Samantha.Cauguiran@NAWRB.com
1 / ISS
MEN WO THE MING IN Y INFOR LIZINGONOM CIA EC SPE ING ÙDJBM HOUS 5IF0G UJPO MJDB 1VC "83# PG/
FF S K O EL KICUR HE O Y PRESENTED BY nawrb
Q&A: SAM Do I have to create a SAM account? 25
Blue White House & American Women In Politics 13
BLONDES, BRUNETTES, & REDHEADS Exceptional Beauty in Business & Policy 11 VOL. 1 / ISSUE 6
MELVA WAGNER Member of the Year
The Roaring Twenty 17
VISIT OUR WEBSITE AT WWW.NAWRB.COM N Magazine, the official publication of NAWRB, is a bi-monthly magazine featuring unique content for women business owners in real estate, such as exclusive interviews with industry veterans, business development tools, book reviews, feature stories and more. N Magazine welcomes comments from all readers. All materials submitted to N Magazine are subject to editing. www.NAWRB.com • (949) 559-9800 • NMag@NAWRB.com
6 | N Magazine
COPYRIGHT 2012 BY NAWRB • 949-559-9800 • NAWRB.COM • REPRINTED BY PERMISSION
SUBSCRIBE NOW Call (949) 559-9800 or email firstname.lastname@example.org today!
ESS OME S WOMEN SS W BUSI O OWNED BUSINE WO WO N NESS WNED NAWRB SS WOMEN OWNE OME N OW OWNED D BUSINESS WOMEN OWNED WOM OWN MEN OW MEN OW B BU N U N N E E NAWRB NAWRBSINESS WOMEN OW NAWRB NEN NES D BUSIN ED BUS ED BUS ED BUSIN SINES NED BUSISS WOMEN OWNE SW D ESS NAWRB BUSINESS WOM NAWRB MNAWRB OWN S WOME ESS WO INESS W INESS W NAWRB BU E WOM SIONE EN N WOMNAWRB OWNED SS OME NAWRB N OW ED B MEN OME NAWRB EN OW NED NAWRB N OW NAWRB NAWRB BUSINESS WOM N OW BUE USIN NAWRB N OW OWN NED WOM SI NE EN SS N OWNED E W N E B OM N S E EN E E D U E D NAWRB OWNE SW D BU NAWRB NO SIN D BUBUSI BNAWRB D BUSINAWRB NAWRB USIN NAWRB BUSI NAWRB NESS WOMEN OW NESS SW SIN INOM E NESS WNED B OMEN O ESS W EN NED E S E OW S S NE S O NAWRB D S NAWRB BUSINAWRB SNAWRB W NAWRB WNE USIN M NAWRB NESS WNAWNAWRB WOM WOEN NE OWN SS W OMEN OWNED BU OM D BU EN OWN OM ESS MEOW EN E NE E D N N BU O D RB NAWRB SI W S NAWRB NE NAWRB W O E NAWRB SS INES BU O E WOMENNAWRB WOM W N NE NAWRB NAWRB NAWRB WUOMEN OW OWNED BUSINE S WO D B N OW NAWRB DSBUSINESS WOM BU EN O SINESS NED BU MNAWRB INES EDNAWRB NAWRBSNAWRB I- NAWRB NAWRB EN OW NAWRB S NAWNE OW D W BUSINESS WO BUSI WNED B WOMEN SINESSW NED BU MEN EN NE D OWN OBU MESI WOMEN SINNAWRB NAWRB NE US O RB OMENAWRB NAWRB NNESS ED B NAWRB OWNENAWRB NAWRB NAWRB ESS OW NAWD BU NED SI NE NE N D U WOM SS WOM INESS W W SS WOMEN BU SI W NESS WOMEN OW OWNNAWRBONAWRB INE BUSI NAWRB NAWRB MEN S EN O EN O ORB NAWRB S NAWRB E NE NAWRB NAWRB M D S NAWRB S D BU OW SI E NE NE W B SS WNE NAWRB O N ONAWRB D WNE BU WOMEN U O W SI NE S SS ME NAWRB NNAWRB W W INENAWRB OMEN NAWRB D BU NAWRB D ED OWNED NAWRB NAWRB SS NAWRB BUSINESS SINE NED BUS N OWNE EN OW W WOM OWNED BUSINESNAWRB NE WOMD BU O SI NE M S D BNAWRB NAWRB SSWOM IN NAWRB S WO NAWRB S WO NAWRB EN EN EN OWNAWRB NAWRB BU NAWRB NAWRB NED BUSI INEEN MEN ESS WOM UWSOM MENAWRB NESS NAWOW NE EN O OWNED B SINESSNAWRB S D N BU S NAWRB SI OWNNAWRBEN NENAWRB NAWRB OWN NAWRB NAWRB SS WOM WOM NAWRB NAWRB WNE EN USIN O OW BU E NE E SI W D S D W W D E OM D NED ENNAWRB ESS N OW RB NA RB N B I BUSI NAWRB NAWRB OWNEDNAWRB BU EN O NAWRB BUSINENAWRB WOM NAWRB NESSOW SS WOMNAWRB NESS USNAWRB NEDNAWRB EN WNE SINESS WNAWRB NE D NAWRB NA E BU B SINESS W N OW NAWRB WRBNAWRB W NAWRB NAWRB NAWRB U NANE NAWRB OMEN NAWRB OME NAWRB NAWRB OW WOM D BUSIN EN BUSINESS NED SINESS OM D N OWNAWRB NAWRB N ESS NAWRB RB EN O W W B OM NA NAWRB USIN NAWRB NAWR NAWRB NAWRB ENNAWRB RB OWNE NED NAWWOM DNAWRB WNE BUSI E BU B S SI USIN NAWRB S WNAWRB EN D WRB NAWRB N RB NAWRB WRB NA NAWRB NAWRB NAWRBNA OMNAWRB ESS NAWRB RB NA WOM ESS WOM BUSINES OWNNAWRB E W D S WONAWRB OMNAWRB WRB NAW B SI EN NAWRB NAWRB NAWRB WRB NANAWRB NANAWRB NESS EN MEN UNAWRB NESS NAWRB OWN OWNNAWRB E WRB NAWRB D O ED B W NAWRB NAWRB NAWRB NAWRB NAWRB BUSINAWRB WRB NA NAWRB NAWRB NA USINESS NED WRB N W RB NAWRB NA NAWRB NAWRB NAWRB NAWRB NAWRB WRB NAW-RB NA OWN NAWRB RB NA RB NA W RB NAWRB NAWRB NAWRB NAWRB NAWRB NAWRB RB NAWRB NA BUSIN NAWNAWRB RB NA W NA RB NAWRB NAWRB NAWRB NAWRBWNAWRB RB NAW OMEN NAWRB NAWNAWWOW NA RB NA M RB W EN O RB NAWRB NAWRB NAWRB NAWRB EN WOM NAWRB NA WOMNAWRB BNA U RB S W INES NA NAWRB NAWRB NAWRB NAWRB WOMENNAWRB NAWRB NAWRB SN EN NA W EN WOMEN WRB O W RB NAWRB WOMEN ED W NAWRB NAW NE NNA WOMEN WOMEN NAWSRB S WO B NAWRB WOMENRB NAWRB OW WOMEN WOMEN N W NAM E RBBU NAWD WOMEN NAWRBW SRB IN O WOMEN WOMEN W M NA RB E W N OW RB NA WOMEN BUSIRB N WOMEN WOMEN W W S WNA EN NA OM RB W EN OME OM W OWN WOMEN W- ED BU NAN OMEN SIN EN WOMEN W ESS WO RB OM W WOMEN OWN MEN ED B US
WOM EN WOM EN NES OW BU OWN BUSI ED -
MEMBERS ONLY REQUEST ACCESS TODAY!
N Magazine Magazine | 7
LETTER FROM THE PUBLISHER
“With the new direction of the market, NAWRB is very proud to introduce a new look for N Magazine.”
Dear Readers, If recent trends are any indication, it’s going to be an eventful summer for the mortgage and real estate industry. The strength of the housing market is gaining momentum and homebuyers’ confidence is rising in the real estate industry. The bidding wars are back — even if investors are pushing it along. Declining inventory, rising prices and growing demand are causing a major shift in housing markets across the country. Just a few years ago, it was a buyers’ markets in almost every city across the country. Now, current market conditions are shifting to favor the seller over the buyer. Low mortgage rates are hovering at or near record lows, enticing homebuyers into the market. With the new direction of the market, NAWRB is very proud to introduce a new look for N Magazine.
We listened to the feedback from our readers and with our new Editor-inChief, Carina Calhoun (and countless cups of coffee), we are proud to present a new look with quality content to educate and entertain you. We bring you the most up-todate trends in the industry, offering tips and solutions to increase your business opportunities and stories from real women in real estate. If you are not a subscriber, sponsor, or member of NAWRB, please visit www. NAWRB.com or e-mail us at info@ NAWRB.com for more information. Thank you to our advertisers, sponsors and members of NAWRB! We will always strive to empower women and voice the needs of women business owners in the housing economy. Enjoy!
Desirée Patno Publisher/CEO Desirée.Patno@NAWRB.com 8 | N Magazine
Celia Cohen BROKER-OWNER/CEO GRI | CFS | RDCpro DRE# 01057793
The C Group
Real Estate & Home Loan$
t: 800-794-0775 c: 562-884-5952 f: 562-402-2716 e: CeliaCohen@aol.com
www.4HomeAndLoan.com 5811 Beach Blvd | Buena Park, CA 90621
N Magazine | 9
SHE IS CHANGING REAL ESTATE RENEWALS
Cristina Anderson Kimball, Tirey & St. John, LLP Cristina.Anderson@KTS-LAW.com (619)-234-1690
lynn janeway Janeway Law Firm, P.C. Lynn@janeway.com (303) 226-8340
LYNN BURLEY Burley Properties LynnCBurley@aol.com (321) 427-6788
TANIA LEIDER Fire, Incorporated email@example.com (303) 674-3004
NOLA COLLINS Century21 Collins Nola1929@att.net (586) 998-9914
jane denning REMAX on the Blvd JaneDenning@remax.net (734) 516-6683
LYNN RHINEHART Quest Realty Solutions RhinehartAndSon@earthlink.net (293) 541-3965
ANGELICA SUAREZ Harbor View Properties firstname.lastname@example.org (310)-802-2444
MELVA WAGNER Sellstate Island Properties MissMel10@aol.com (305) 292-1150
Indiana’s REO Team LLC.
REBECCA THOMLEY RThomley@orionassoc.net (763) 450-5045
email@example.com (404) 308-0733
NEW MEMBERS “I believe joining NAWRB is a excellent opportunity to be part of an organization that supports and encourages women to be successful in real estate.”
AMANDA ARHUIRE Sunrise Property Preservation LLC SunrisePreservation@yahoo.com (323)-356-6582 10 | N Magazine
“NAWRB allows us the opportunity to collaborate with other like-minded, women-owned business professionals and make a difference in real estate and related industries.”
SANDRA COPE Inwest Title Services, Inc. firstname.lastname@example.org (801)-399-3544
SHE IS CHANGING REAL ESTATE CERTIFICATION
HELEN LIU DESVEAUX The Colorado Real Estate Co. Helen@tcreco.com (303) 351-5571
“Any exposure is so valuable to any business and especially when it is done in such a professional manner. That’s what I love about NAWRB.” Alex walked me through the certification process and really made it easy, and for that, I am so thankful.” DEBBIE JENSEN Century 21 All Professional Debi.Jesen@Century21.com (772) 335-1121
shelly west-chenoweth Atlas Field Services, Inc. email@example.com (916) 988-7100
“NAWRB gives me a voice, a voice that has been long awaited for and I hope to inspire all women business owners in any industry…” STEPHANIE HUGHES
All Bay Realty firstname.lastname@example.org (831) 224-4489
Morales Law Group, P.A. Blackwood Team Realtors email@example.com firstname.lastname@example.org (305) 698-5839 (501) 920-8111
“NAWRB is a phenomenal organization that assists women-owned business owners in not only their ongoing education and development in real estate, but also in the networking of other women-owned business owners on how to grow their business and support one another with the added benefit of being certified as a women-owned business.” ZORITHA THOMPSON Goree & Thompson Real Estate, Inc. ZorithaSellsREO@yahoo.com (916) 601-7653
SANTINA BOGGS CAM Secure Services, LLC Boggs@camsecureservices.com (410)-838-0267
teresa ryan Ryan Hill Realty TRyan@ryanhillrealty.com (630) 718-0424
NELL jones Nell@relocate.net (615)-300-0501
melody kramer Blue and Gold Realty Melody@blueandgoldrealty.com (707) 689-3244
debra sixta Mohave Integrity Real Estate Services DebraSixta@yahoo.com (928)-727-7653 N Magazine | 11
Strategizing With T The largest share of first time homebuyers fall into the 25 to 35 age group.
Top producing companies are catering to 25 to 35 year olds with digital marketing efforts with games on social media, E-signatures, responsive websites and personalization.
Responsive 12 | N Magazine
Century 21 partnered with Facebook for the popular game SimCity Social, where players build their real estate empires – even their own Century 21 office! “It’s a creative opportunity to deliver the dream of homeownership to millions who are intent on investing in real estate virtually, and eventually, in reality,” said Century 21’s Chief Marketing Officer Bev Thorne in a recent company blog. Zillow allows rental agents to post personalized web pages. Users can choose a personalized domain, optimize their site for search engines, integrate rentals listing and engage surfers using Zillow. Rent.com launched a new responsive website. In addition to streamlining the user experience across multiple screen sizes, other factors that contributed to the decision to implement a responsive web design include the exponential growth of Internet connected devices and the networks that power them.
MOBILE USAGE IS UP 128% IN THE LAST 18 MONTHS
= 10% REAL ESTATE SEARCH IS TRANSITIONING TO A MORE VIRTUAL EXPERIENCE WITH THE 25-35 YEAR OLDS
There’s an app for that:
Reinventing the Signature
18 MILLION PEOPLE PLAY SOCIAL GAMES EVERYDAY
by Staff Writer
he 25 to 35 year olds use E-signatures. There may be an emotional aversion towards electronic signatures, but it’s perfectly legal, and perfectly fast, and perfectly shaping the real estate industry. In fact, there’s never been an E-signature that’s been rejected because it’s electronic. NAWRB recently sat down with the CEO and Founder of SignNow, Chris Hawkins. As a regular advocate at conferences and with government agencies about the use of E-signatures and E-notarizations, Hawkins is also author of A History of Signatures: From Cave Paintings to Robo-Signings.
90% OF HOME SHOPPERS, SELLERS, AND RENTERS START THEIR SEARCH ONLINE
CEO & FOUNDER | SIGNNOW CHAWKINS@SIGNNOW.COM
“2012 was a banner year towards mobile, and 2013 trends are towards more device-centric signings,” said Hawkins. The biggest challenge to date is changing people’s behavior and emotional attachment to the physical signature. Our most emotional life events are already digital via Facebook or Instagram, so it’s only natural our legal documents are following suit.
E-signatures HAVE BEEN LEGAL SINCE 2000 N Magazine | 13
APP MAPP: News
Get the News by Alex Hernandez @NAWRB_Alex
Flipboard • Gets news from different sources • Best layout (magazine layout) • Gives access to social media (Facebook and Twitter) • Create an account if you have more than one device and saved content will be available on all devices • Mobile version is specifically designed to be used with one hand • Offline reading The New York Times • Offline reading • Save articles up to seven days • Great for in-depth reporting • Many sharing options (text, twitter, or email) NPR News • Hourly newscasts • Access to NPR radio shows (live or archived episodes) • Print articles that accompany radio content AP Mobile • Local news and weather • Push notifications for breaking news • Customize the type of news you want to see on the homepage CNN Mobile • Access to watch CNN and HLN live • Best for tablet • Three options to view (layout, headline, or slideshow) • Breaking news alerts • Local news and weather
14 | N Magazine 14 | N Magazine
PROPERTYTOURS by Jackie Andoniu
DAWN GLOW CASTLE ROCK, CO |
4,098 SF residential property 5 bedrooms | 4 bathrooms Helen@TCRECo.com
This five bedroom and four bathroom home in the snow is located in the desirable Meadows neighborhood in Castle Rock, CO. Within walking distance of Clear Sky Elementary School, this rare HUD home is so immaculate and well maintained it seems practically new! This is a great retreat for a quick vacation escape and/or a perfect home to create and grow family traditions in. HUD homes are sold strictly AS IS with no warranties, guarantees or representations, therefor a home inspection by a qualified professional is highly recommended. For anyone interested in buying a HUD property, visit the national HUD listing website at HUDHomeStore.com to see all available HUD homes for sale. This Property Tour is contributed by Helen Liu DesVeaux, Broker/Owner at The Colorado Real Estate Co. If you would like to contribute a Property Tour for a future issue, please email NMag@NAWRB.com.
Thereâ€™s an app for that:
N Magazine | 15
Housing Economy: Mid-Year Report
Housing, Credit and the U.S. Economy A mid-year review of the housing market and the impact it is making on the economy. By Christopher Thornberg
he sudden surge in the U.S. housing market has caught many people by surprise. While double-digit price increases, tight inventories, and bidding wars sound too much like what was happening at the height of the last real estate bubble, the fundamentals suggest that this bounce is entirely justified. And indeed this might be the best thing that has happened to the U.S. economy in a long time. The Obama Administration could make the positive impact on the economy even stronger by working to expand access to mortgage loans for the many who are currently unable to take advantage of this once in a generation opportunity. Just a year ago, the media was still focused on when the housing market was going to bottom out and policymakers were debating what additional rules and programs should be created to stabilize the market. Both groups made the mistake of taking prices as the primary indicator of the future direction of the market. What they missed is that prices lag the cycle, while inventories lead, and inventories have been on a downward
16 | N Magazine
trajectory for well over two years now. The bounce in prices was only a matter of time. And quite a bounce it is. Some markets are on fire, (San Francisco prices are up 22 percent over the last 12 months,) while overall price increases for the nation are running roughly 10 percent, according to the Case Shiller 20 City Index. In 2005 the peak pace was 17 percent — so we aren’t quite there yet, but the acceleration in price increases is continuing. This is great news for the U.S. economy. Rising prices have stimulated the construction market. Permits and starts have been running close to the million mark for the first time since 2008. Increases in construction alone could add close to half a percentage point per quarter to GDP growth for the next few years, not to mention the many new jobs for the ailing labor market that is helping to push unemployment down. This by itself could offset the sequestration hit to the economy that we are currently moving through. And consider that a normal market produces 1.8 million units per year — the gains are only beginning.
Financially it is also great news. As prices rise, underwater owners will move into positive equity positions, allowing them to refinance, or sell their property adding to both inventory and housing demand. For years now many owners have been paying down their mortgages, given the low equity levels in the market. However, in the last quarter of last year we actually saw positive extraction of equity from housing for the first time since 2007 — a solid support for consumer spending and small business formation. The fear is that the current surge will be as fleeting as in 2005, leaving another mess in its wake. By any measure — whether months supply of new or existing homes, or number of vacant units — all indicators show a market that is as tight today as it was in 2005. If you dig away at the stats, this really isn’t anything like 2005. As for buyers, in 2005 the market was being driven by investor demand driven in turn by the incredible availability of credit— remember NINJA loans? It was all about flip-baby-flip. Today, there are again many
HOUSING ECONOMY investors, but there is an entirely different strategy, built on fundamentals, not on riding a wave. The most important fundamental that justifies the increases in housing prices is the record low cost of housing relative to rental prices across the nation. Take Los Angeles County for example, (similar results can be found most anywhere,) the median price of a home in 2000 was $206,000 and interest rates were running at 8 percent. The monthly cost of that house with some simplifying assumptions was a little over $1,700. At the same time, the average monthly rent for an apartment was $1,000, making the home cost-to-rent ratio 1.73. At the peak of the housing bubble in 2006, that ratio had risen to 2.9, incredibly high and indicative of how misaligned prices had become. Today, rental markets are tight given all the movement into rental housing following foreclosure — 10 percent higher than in 2006 despite double-digit unemployment. As home prices and interest rates have dropped sharply, the home cost-to-rent ratio has hit at an all time low of 1.3. It’s no wonder investors are leaping in. Median prices would have to climb by 30 percent or more from their current before the ratio reached 2000 levels. They would have to go even higher before we started calling this a bubble. Unfortunately, it is mainly investors who will be enjoying a return to normalcy. Years of demonizing lenders and passing rules to punish ‘predatory lending’ practices have left behind a market that is highly unwilling to lend to anyone who doesn’t have a great credit score. As a result, cash offers dominate the market, and many middle class buyers who could responsibly borrow their way into one
of the greatest wealth creation opportunities in a generation, are being left on the sidelines. A sad commentary during an administration that has publicly stated that the middle class is the focus of their efforts. The impact is not just demographic. Homeownership levels are falling despite cheap housing costs because tight credit is preventing many current renters from buying their own single-family home. The impact of new construction is still muted because most activity is occurring in the multifamily space, where permits are above normal levels. Single-family unit construction — which stimulates more jobs and economic activity
“The sudden surge in the U.S. housing market has caught many people by surprise.” per unit — are still way below normal levels. The Obama Administration can do something about this — by encouraging banks to lend into the system rather than discouraging them. The collapse in credit standards the last time around was driven by sub-prime lenders, (think New Century or Countrywide) and big investment banks that securitized the bad loans and hid the problems. As is often the case with public policies, the pendulum has now swung way too far in the opposite direction. Efforts should be made to prevent a repeat of what happened several years ago, but that shouldn’t mean using one brush to paint all lenders. Maintaining sensible standards will prevent the current boom in the market from turning into another debacle.
FACTS • As prices rise, underwater owners will move into positive equity positions, allowing them to refinance, or sell their property adding to both inventory and housing demand. • As for buyers, in 2005 the market was being driven by investor demand driven in turn by the incredible availability of credit. • The most important fundamental that justifies the increases in housing prices is the record low cost of housing relative to rental prices across the nation. • Efforts should be made to prevent a repeat of what happened several years ago, but that shouldn’t mean using one brush to paint all lenders.
Christopher Thornberg, PhD, is an economist and Founding Partner of Beacon Economics LLC, an independent research and consulting firm. Learn more at www.BeaconEcon.com. N Magazine | 17
STATE OF THE INDUSTRY: Rental Market
n a traditional housing recovery, individuals and households provide the bulk of the demand the market needs to rebound. This time, though, a different kind of buyer has been breathing life into the housing economy: investors looking for valuable rental property. Along with individual investors, corporate investors have powered the single-family home market, buying and reducing inventory, which then increases prices and encourages new construction. According to the National Association of Realtors (NAR,) all-cash home purchases — many of which are made by investors — made up about 32 percent of sales nationally in March 2013. A rise from about 20 percent in 2009. So, how and why are investors taking over the housing market? The strategy behind converting homes into rental properties benefits investors in several ways. According to RISMedia, other kids of investments are returning low profits, and investors are looking for higher returns. Foreclosed homes and other unsold properties can be purchased cheaply in many markets and need only minor renovations, such as updated appliances and a new coat of paint. Even if investors choose not to rent the properties, they can count on appreciating prices as the economy moves further into recovery to realize a high return on investment when they eventually sell.
“The strategy behind converting homes into rental properties benefits investors in several ways.” Real estate investment and private equity firms, such as Colony Capital and Blackstone Group, have purchased thousands of homes in the past year. The ranks of public or soon-to-be public companies that own portfolios of for-rent single-family homes has been on the rise. American Residential Properties Inc., completed its initial public offering (IPO) of 13.7 million shares of its common stock raising gross proceeds of about $228 million. As of March 31, the Scottsdale, Arizona-based firm owned 2,531 homes acquired since 2008 and was managing 600 additional homes. 18 | N Magazine
Meanwhile, Waypoint Homes Realty Trust registered for an IPO filing seeking to raise $100 million. Based in Oakland, Calif., the firm is manager by Waypoint Real Estate Group (WREG) and has acquired more than 3,500 single-family homes since 2009, according to CoStar Group. WREG’s legacy funds had commitments for more than $700 million of equity and debt capital to acquire, renovate and improve single-family homes. As tight lending standards and bad credit from foreclosures are keeping homebuyers away from taking advantage of the low mortgage rates, the all-cash offers from investors offers more attractive terms and immediate payouts to sellers. It also allows investors to beat out those individual homebuyers who have been able to secure financing. Furthermore, according to RISMedia, the influx of investor cash is quickly elevating home prices in many markets such as Phoenix, Las Vegas and Atlanta, further depleting the amount of individual buyers who are now unable to afford homes that were in their price range a year ago. Several industries are benefitting from the rental market on the rise. The construction industry is benefitting from investors’ need to improve the curb appeal of properties and make them ready for renting. The remodeling industry has been one of the first to profit finding more opportunities for smaller projects like new appliance installation, kitchen renovations or bathroom upgrades. Painters are being called on to strip old paint and apply fresh coats to improve properties’
R M With investors breathing life into the housing industry, rentals are coming out on top. By Carina Calhoun Photography by Wendy Goodson
STATE OF THE INDUSTRY rental or resale value. The American Rental Association (ARA) reported that the equipment rental industry in the United States is expected to generate $33.6 billion in revenue in 2013, according to the latest forecast from the ARA Rental Market Monitor updated recently. This figure represents a 7.3 percent increase over 2012 with revenue growth reaching 7.9 percent in the fourth quarter according to the latest quarterly forecast. “The industry continues to build customer demand, which drives the growth of the equipment rental industry,” said Christine Wehrman, ARA’s executive vice president and CEO. “Listening to ARA members from around the country and looking at the forecast of IHS Global Insight, there is unlimited potential for the equipment rental industry.” “Rental has grown during the anemic economic recovery through increased penetration,” said Scott Hazelton, a senior partner with IHS Global insight, which compiles data and analyses for the ARA Rental Market Monitor. “As industrial and construction markets continue to improve, rental will see further growth from a larger share of the equipment market, leading to double-digit revenue gains by 2014.” Carina Calhoun is editor-in-chief of N Magazine. She may be contacted at email@example.com.
FACTS • All-cash home purchases — many of which are made by investors — made up about 32 percent of sales nationally. • The ranks of public or soon-to-be public companies that own portfolios of for-rent single-family homes has been on the rise. • The influx of investor cash is quickly elevating home prices in many markets such as Phoenix, Las Vegas and Atlanta. • The American Rental Association (ARA) reported that the equipment rental industry in the United States is expected to generate $33.6 billion in revenue in 2013.
N Magazine | 19
INTERVIEW SERIES: Women in Technology
Raising the Bar in Social Strategies Q&A: Silicon Valley’s Social Diva
By Katie Lance
Katie Lance of Inman News sits down with the successful Clara Shih to share insights on social media strategies, women in leadership and the real estate industry.
It’s not too often you get the chance to interview someone like Clara Shih. At just 30 years of age, she has accomplished more than most people. She graduated at the top of her class at Stanford, has worked for Google, Microsoft and SalesForce.com, is a best-selling author, is on the board at Starbucks and is the CEO of one of the hottest social media companies in Silicon Valley – Hearsay Social. Clara is an inspiration to many in the tech world – especially women rising up the ranks of leadership. I asked Clara to share with me some of her insights into the world of being an entrepreneur, women in leadership and the real estate industry. You are the CEO and co-founder of one of the hottest social media start-ups. Do you feel pressure to keep raising the bar? We are so lucky to be based in Silicon Valley, which is a hotbed of innovation. Every day, the networks change and provide us new ways to help our customers engage with their audience on social media. There is always a need to keep pace with the development of the networks (did you know Facebook ships code every 15 minutes?) but I wouldn’t necessarily consider it pressure. Your company has had a huge growth spurt this year alone. What do you think attributed to that? In July 2011 we had enormous pressure from 20 | N Magazine
Any plans to go public in the near future? We will do whatever is in the best interest of the company and our customers. If that means going public, we’ll do it. If it means staying private, we’ll do that.
the founding of our company to the present day: power every business to consumer relationship on social media. We strongly believe in the transformative power of social media for businesses and strive to always put that goal front and center when making decisions about our product and customer offering. This means a lot more than simply putting social media tools in the hands of the corporate marketer. We’re interested in enabling the entire sales organization to become social sellers. That vision is fundamentally different from the other social marketing companies.
How do you stay ahead of the competition? Steve Garrity and I have had one vision from
You have been very successful in the financial services and insurance industries and are now focused on
the market to deliver to an increasing number of customers. We raised a Series B with Sequoia Capital and NEA in order to fund the rapid scaling that has led us to our current size and customer base. Since then, we’ve doubled the size of the company and grown our customers 400 percent.
INTERVIEW SERIES penetrating the real estate market. Why now (in regards to real estate) and what need do you feel Hearsay fulfills to these industries? When we first started the company, we thought about what it meant for a business to be social - scaling and managing close, personable relationships with their customers and prospects. That’s what led us to industries like financial services and insurance, which are heavily relationshipbased. Real estate has the same qualities. Real estate professionals connect with buyers and sellers during critical points of their lives - buying a new home often coincides with major life changes (moving to a new city, growing a family, engagements and marriages). A buyer or seller will want to work with someone who understands their interests and needs at the moment, so the most successful real estate professionals are the ones that build the strongest and longestlasting relationships. That’s where social comes in, and that’s where Hearsay Social can help. How important is having a social strategy now compared to a year or two ago? Two years ago, having a social strategy at a company meant that you were ahead of the game. You understood the shift in consumer behavior towards social media and were rapidly changing your marketing organization to reflect that. Today, having a social strategy means you’re barely keeping up with your competitors. Every Fortune 500 Company has a social media presence and strategy in one form or another. What differentiates companies today is what, exactly, their social strategy entails. Is it a single brand page? That company is probably behind. Are they using local pages to provide more relevant and engaging content to their audience? That company is on the right track.
Are they using social media for the purposes of enabling social selling? Are they tracking the improvements in their customer retention, customer value, customer referrals, new customers? That is what matters to the success of their strategy at the end of the day.
“A buyer or seller will want to work with someone who understands their interests and needs at the moment, so the most successful real estate professionals are the ones that build the strongest and longestlasting relationships.” How important is the role of C-Level executives when it comes to a company’s overall strategy? The vast majority of boards of directors and C-level execs have been tasked with defining the company’s social, mobile and digital strategy in 2013. We’ve already seen tremendous adoption of corporate pages and brand-level assets from the Fortune 500, but the next piece of the puzzle is proving how social media can enable entire organizations - not just the corporate marketer - to transform their business. What would be one piece of advice you could give to an entrepreneur? Do something you’re passionate about, and work with the smartest, most driven, and most talented people you can find.
FACTS • Power every business to consumer relationship on social media. Always put that goal front and center when making decisions about our product and customer offering. • Real estate professionals connect with buyers and sellers during critical points of their lives — buying a new home often coincides with major life changes. • The most successful real estate professionals are the ones that build the strongest and longest-lasting relationships. • What differentiates companies today is what, exactly, their social strategy entails.
Above all else - I’d ask, do they have a strategy to measure ROI on their social media initiative?
CEO, Katie Lance Consulting Chief Strategist, Inman News KatieLance@gmail.com N Magazine | 21
FINANCE: Mortgage Lending
Balancing Consumer Protection and Broad Access to Credit The complexity of overlapping regulations and how they will affect the housing recovery. By Debra W. Still
ver the past several years, lenders serving homebuyers in America have experienced high levels of uncertainty in real estate finance. This uncertainty was driven in large part by the Dodd/Frank creation of a new regulator, the Consumer Financial Protection Bureau (CFPB), and by what has been called a pending “tidal wave” of future rule making. The industry has professed that high levels of uncertainty restrict credit and reestablishing certainty is critical for the marketplace. The Dodd/Frank rules were created to protect consumers from the excesses of the housing bubble and we never want to repeat the mistakes of the past, but we must also make certain that these new rules do not hurt the very consumers they were designed to protect. The CFPB has now been in operation for two years and has been transparent in its expectations of lenders. And as anticipated, 2013 marked the final publication of many key Dodd/Frank rules. To some 22 | N Magazine
degree, having the rules in place has eased uncertainty, but it does not resolve today’s overly tight credit conditions. In fact, thousands of pages of intricate rules will drive a marked shift in real estate finance — a shift from regulatory uncertainty to regulatory complexity. In January of this year, as required by the legislation, the CFPB released 3500 pages of Dodd/Frank rules. They include the Ability to Repay rule, Servicing Standards, the Loan Officer Compensation rule, the Homeowner Equity Protection rule, the Escrow rule, and the Appraisal rule. The combination of so many new rules being issued all at once introduces extraordinary levels of complexity that could make lenders even more cautious than they are today. Given this prospect, we must all be concerned about its effect on the availability of credit to consumers. We all agree that credit is already overly tight and while the housing markets are
improving, data shows that it is the higher end of the market that is actually fueling the market’s growth, with the lower end of the market continuing to shrink. Federal Reserve Chairman Bernanke noted, “The pendulum has swung too far the other way … overly tight lending standards may now be preventing credit worthy borrowers from buying homes.” CFPB’s Richard Cordray stressed, “Credit is achingly tight.” And President Obama in his 2013 State of the Union Address said, “With mortgage rates near a 50-year low, too many families with solid credit who want to buy a home are being rejected.” It is with that context in mind that lenders, consumer advocates, policymakers and legislators must work together to ensure that these complex new rules do not make credit even tighter for consumers, especially low-tomoderate income and first-time homebuyers. Between now and the end of the year,
FINANCE lenders will focus all short-term strategy on the change management requirements of these rules. First, we must continue to work with the CFPB and legislators to make sure that we’ve got the rules “right” and that they support access to credit for qualified borrowers. The industry applauds the CFPB for getting a lot right but still has concerns that certain aspects of the rules will be prohibitive to otherwise qualified consumers. Next, we must make certain these rules are aligned with each other and with existing regulations issued by the states, government agencies and other federal regulators. It is critical that the rules are understood, and there are still many issues and interpretations to be clarified. And last, over the next eight months lenders must implement the rules. This means technology systems must be reprogrammed, business rules adjusted, loan application processes re-engineered, new policies and procedures developed and employees trained on the changes. And there is further complexity to be dealt with. In addition to Dodd-Frank, there are other rules on the horizon. Two of the most significant are the Risk Retention rule, in debate now, and Basel III, with a final rule due out this summer. And all of this is in addition to the day-to-day changes coming from FHFA, Fannie Mae and Freddie Mac, HUD, FHA, VA, USDA, all 50 states and other Federal regulators. So, while lenders will certainly have a lot on their plate over the next year, the most important issue is whether all of this complexity will result in unintended consequences for consumers. It is imperative we work together and cross traditional boundaries, within the industry, with consumer advocates, with regulators and with
policymakers to reach our common aspirational goal for the consumer – broad access to credit for qualified borrowers. Recent studies show that the large majority of Americans still want to own their own home. Future demographics for housing demand are very encouraging with large growth expected from the Echo-Boom generation which is larger than the BabyBoomer generation by five million people; and from immigrant buyers who are forecast to drive 29 percent of all housing growth in the next eight years.
“…While lenders will certainly have a lot on their plate over the next year, the most important issue is whether all of this complexity will result in unintended consequences for consumers.” But will financing be available? The challenge of regulatory complexity is real and must be confronted. If rule making is not pursued with a perfect balance — it will fail consumers in the most fundamental way. Finding the right balance between consumer protection and consumer access to credit is vital to homeownership in America.
FACTS • The industry has professed that high levels of uncertainty restrict credit and reestablishing certainty is critical for the marketplace. • The combination of so many new rules being issued all at once introduces extraordinary levels of complexity that could make lenders even more cautious than they are today. • Between now and the end of the year, lenders will focus all short-term strategy on the change management requirements of these rules. • Recent studies show that the large majority of Americans still want to own their own home.
Debra W. Still, CMB is President/CEO of Pulte Mortgage and Chairman, Mortgage Bankers Association. For more information go to, www. mortgagebankers.org N Magazine | 23
Protecting Tenants at Foreclosure Act The Protecting Tenants at Foreclosure Act (PTFA) was extended through December 2014, protecting tenants from evictions due to foreclosure. By Joan Jackson
n important topic the general public and the real estate industry should know about is the Protecting Tenants at Foreclosure Act (PTFA), which was signed into law in May 2009.The PTFA was extended through December 2014 with the passage of the Dodd-Frank Wall Street Reform and Consumer Protections Act. The PTFA protects tenants from eviction due to foreclosures. According to the National Housing Law Project, it is estimated that as many as 40 percent of families facing evictions due to foreclosures are renters. This may not be surprising to those who work in the real estate industry, but the general public may believe that only homeowners are affected by foreclosures. Having worked as a realtor in different regions of the country, Iâ€™ve witnessed firsthand the dramatic effect that foreclosures have had on both homeowners and tenants. Prior to passage of PTFA, tenants were left out in the cold with no recourse when 24 | N Magazine
property owners faced foreclosure. Tenants typically lost security deposits, experienced a depreciation of propertiesâ€™ upkeep, utilities were shutoff, received short notice to vacate the properties, and often endured unexpected hardships due to relocation expenses. The PTFA provides tenants a 90-day notice to vacate requirement for properties that are facing foreclosure. If a new owner takes possession of a property, they cannot immediately evict the tenant; they must either honor the lease or give the tenant a 90-day notice if the tenant has a month-to-month lease. This law also states that if the owner plans to move into the property they could terminate the lease, but must provide a 90day notice to tenant to vacate the property. In addition to the PTFA, some states have enacted additional laws to protect tenants in foreclosed properties. This is not a legal interpretation of the Act, but tenants are encouraged to consult an attorney if there are any questions. One particular event that I witnessed, and
which is an example case for passage of the PTFA, involved a family that had relocated across the country. The family relocated to the western region of the country and leased a property that required a six-month security deposit. The property owner was well aware that the property was facing foreclosure but withheld his information from the tenants. Within one month after signing the lease and paying the security deposit, the family received notice that the property was being foreclosed. The property was a unique luxurious home located on a prominent golf course in California. The family was unable to retrieve their security deposit, because the owner had disappeared. This had become a common practice during the early period of the housing market crash of 2007. It took several years, but PTFA finally brought relief to tenants who faced similar misfortunes. The law brought accountability to the housing foreclosure crisis that shamelessly left innocent tenants as victims,
FORECLOSURE but now provided them a shield of protection from unsavory property owners. A positive event resulting from the PTFA enactment I witnessed, involved a tenant in the eastern region of the country who had received a notice stating the property they were leasing was being foreclosed within the next three weeks. After seeking advice from a realtor, the tenant contacted the bank responsible for foreclosing the property. The bank’s assigned realtor informed the tenant of their rights under the PTFA, and
“The law brought accountability to the housing foreclosure crisis that shamelessly left innocent tenants as victims.” provided additional information on how to proceed forward. The realtor also informed the tenant of a program, which provided funds for emergency relocation. Prior to the PTFA, this tenant would have had less than three weeks to relocate and would have likely had to pay security deposits and rent for a property based on availability instead of preferred choice. The PTFA has provisions to assist tenants with unexpected costs and as necessary, provide tenants with additional
time to vacant the property. The effectiveness of PTFA in assisting families was so great that another law, the Dodd-Frank Wall Street Reform and Consumer Protections Act, was signed into law and extended PTFA out two additional years, to December 2014. This bill ensured continued protection for bona-fide tenants of rental properties whose owners faced foreclosure. The combination of PTFA and the DoddFrank Wall Street Reform and Consumer Protections Act have saved numerous families from the hardship of evictions caused by no fault of their own during the numerous foreclosures of the last several years. If more landlords and tenants knew about this law there would be a significant decrease in families being evicted from foreclosed properties, with little to no notification.
Helpful tips if faced with a foreclosure or eviction notice? 1. Call the sheriff ’s department first. Find out how long the foreclosure process takes. Is it 60 days or 90 days? Knowing your timeline to work with will help you prepare for the worst-case scenario. 2. Find out the rental laws in your state. Some states, including California, have recently passed legislation giving renters a grace period, ranging from 30 days and up, to stay in a property after it has been sold in foreclosure. Other states are considering similar legislation. 3. The lender’s name or its lawyer will be on the eviction notice. Contact either one to let them know you are in the property. Find out what your options are. Will the lender let you
sign a new lease? Contact Fannie Mae and Freddie Mac they both have pledge to change their new rental policy. Or is the bank offering some cash assistance for moving out? Don’t let the lender bully you into moving out sooner than stated by law. 4. If you are nervous about negotiating with the lender on your own, contact a local nonprofit housing counseling agency for help. HUD’s website lists agencies by state, or you can call (800) 569-4287. 5. The U.S. Department of Housing and Urban Development outlines tenant rights by state on its website at www.hud.gov
N FACTS • According to the National Housing Law Project, it is estimated that as many as 40 percent of families facing evictions due to foreclosures are renters. •Prior to passage of the PTFA, tenants were left out in the cold with no recourse when property owners faced foreclosure. • If a new owner takes possession of a property, they cannot immediately evict the tenant; they must either honor the lease or give the tenant a 90-day notice if the tenant has a month-tomonth lease.
Joan Jackson, Realtor at Long and Foster Realtor Joan.Jackson@longandfoster.com
N Magazine | 25
WOMEN IN BUSINESS: Federal Contacts
Small Business Advocates Join Forces to Propel Women Entrepreneurs Forward The Small Business Administration, Women Impacting Public Policy and American Express OPEN pool resources to help build federal partnership with women-owned small businesses.
ess than halfway through the year, 2013 has already brought promising opportunities for women small business owners. In January, a new provision removed the award caps on federal contract awards — $6.5 million for awards to women-owned businesses in the manufacturing and construction industry and $4 million for contracts in the remaining fields — in the Women-Owned Small Business (WOSB) Federal Contract program. Removing the award caps is one of the most tangible victories women entrepreneurs have seen in decades. After a 12-year journey to implement the WOSB Federal Contract program, this improvement will unleash the program’s potential, help more womenowned small businesses grow through federal contracting, and enable federal agencies to boost their WOSB procurement goal– all while providing a significant boost to the national economy as a whole. With the positive momentum from these recent strides for women-owned small businesses in federal contracting, Women Impacting Public Policy (WIPP) has partnered with the U.S. Small Business Administration (SBA) and American Express OPEN (OPEN) to form an initiative called ChallengeHER that will propel women contractors ever forward. ChallengeHER was officially launched on April 23rd in Washington, D.C., with Marie Johns,
By Barbara Kasoff SBA Deputy Administrator, unveiling the initiative. ChallengeHER will provide women small business owners with nationwide district and agency events, one-on-one access to government buyers and decision makers at these events, an online curriculum, mentoring opportunities, and all public and private sector resources needed to successfully grow a business through federal procurement.
“$6.5 million for awards to women-owned businesses in the manufacturing and construction industry and $4 million for contracts in the remaining fields…” Women are the fastest growing economic force in America. It is more important than ever to implement policies that will promote our nation’s leading job creators. Research shows that participation in federal contracting can be a lucrative revenue booster for women business owners. According to American Express OPEN’s government contracting survey fielded in 2011, 42 percent of WOSB contractors generate revenues in excess of $1 million. This far exceeds the 5 percent of all small businesses and 1.8 percent of WOSBs that have achieved that level of success.
With the recent legislative victories in place, it is time for America’s women business owners to take advantage of the programs we have spent decades building. For years WIPP has been working with the government and its corporate partners to create smart policies in D.C., and now we are taking the show on the road. The improvements to the WOSB program and the launch of ChallengeHER program open up opportunities, making it an ideal time for women to consider the federal government as a prospective customer. Here are some tips for women entrepreneurs to get started: Register your business with the System for Award Management (SAM), the federal government’s central contractor registration website. This helps your business get noticed by government agencies. Registration is free at www.SAM.gov, but requires specific company data such as a DUNS number or NAICS code. We’re calling on women business owners to take the ChallengeHER pledge today — get contract-ready, be proactive in seeking contracting opportunities, seize all available resources and help others along the way. It’s time to start growing your business.
Barbara Kasoff, President and Co-Founder of Women Impacting Public Policy, Inc. (WIPP) firstname.lastname@example.org 26 | N Magazine
Photography by Wendy Goodson email@example.com
(714) 588-3360 Serving All Orange County NAWRB-BrokerDirect-HalfAd-2013.pdf
Customer Service = Resolution®
We are here for you. Safeguard’s BrokerDirect team fields hundreds of calls from listing agents like you every day. Contact us with property inquiries, feedback, or procedural questions. That’s what Customer Service = Resolution® is all about.
p 877.340.5909 firstname.lastname@example.org
Safeguarding our clients’ interests. Property Inspections Property Preservation Real Estate Owned (REO) REOplus™ Repair and Rehab Utilityplus™
Hazard Claims Insurance Loss Inspections Vacant Property Registration Compliance Connections™ Valuations
N Magazine | 27
Camera Works Photography
theristowgroup.com email@example.com (928) 763-1234
The RISTOW GROUP 3650 Southpointe Circle Laughlin, NV 89029
28 | N Magazine
A BROKER’S BALANCE ACT
Real estate extraordinaire, Lisa Ristow is the owner of The Ristow Group, an avid community volunteer and a dedicated mother. By Carina Calhoun
tri-state licensed real estate agent for more than 20 years, Lisa Ristow is owner of The Ristow Group in Arizona. With small town roots, Ristow combines her traditional values with cutting-edge professionalism.
great deal of time with people facing or having gone through foreclosure and makes it a point to never suppress her emotions and compassion. “I have shed tears and physically embrace people, offer words of encouragement and hope. They know I care and sometimes that makes all the difference.” She continued, “One thing I learned “My parents built custom homes in rural Wisconsin. I earned early on is that where there is real estate, there is opportunity no a love for real estate growing up smelling freshly cut wood,” said matter what state the market is in, you just have to be intuitive to be Ristow. Once she moved to California at the ambitious age of 21, ahead of the game to see the next play coming.” Ristow received her real estate license in 1989. “I was mentored by one of the best brokers in the industry, Carmela Loelkes, with The undoubtedly difficult market has not discouraged Ristow in her Better Homes & Gardens. She took me under her wing as though endeavors both professionally and personally, as she is no stranger to I were her daughter and helped me achieve top sales agent within a challenge. Ristow is a dedicated mother who manages healthcare my first year and every year since,” she explained. Within her first for her 16-year-old son, Charlie, who has muscular dystrophy (MD). 15 years in the industry, Ristow was a top producer amongst the Also, while Ristow is not closing 150 to 200 real estate transactions fierce competition in Orange County, Calif., selling high-end, luxury a year, she is a high school Booster Club Board Member, Advocate homes. Ristow then went on to receive her license in Arizona in 2004 for special needs families on a local level, was a Judge for 2012 and Nevada in 2010. She brought her experience and marketing to Community Achievement Awards, forged ADA compliance in her the tri-state area specializing in riverfront and luxury properties. hometown to open doors for coming generations and is a volunteer for other charitable organizations on a local and national level. “I Ristow recalled, “One day I received a phone call from a company make sure to pre-plan and block time in my schedule to spend with looking for agents to enroll who would be trained and reach out to my family. It helps to kill two birds with one stone volunteering at distressed homeowners, explain their options and put them in touch school so I can be with my son at the same time,” she commented. with their mortgage holder to find a solution to keep their home. The company offered a very nominal fee for each assignment that took hours and commitment but I knew in my heart the day I took the call that it was something I needed to do to try to help people keep their homes.” This was the entrepreneur’s first introduction to the foreclosure world and how she stumbled into REO properties. A woman not afraid to share her soft side, Ristow has excellent instincts when it comes to the real estate market which has driven her success. As the local listing broker for several REO clients and HUD homes, Ristow offers free workshops to teach buyers how to purchase HUD homes. “Working in REO has been a blessing as I have the opportunity to employ and educate other women and also to meet and spend time with families who are going through very challenging life circumstances,” she said. Ristow spends a
"NAWRB does a fantastic job of heightening awareness of intelligent business people who happen to be women."
When she’s not out conquering the world, volunteering, writing, educating or spending time with her family, Ristow enjoys a physically challenging 5:30 AM boot camp to keep her mentally alert. Ristow stated, “I’m passionate about life. Everything I do, I give 100 percent of myself in my personal and professional endeavors. I don’t believe there is any other way.” N Magazine | 29 N Magazine | 29
NAWRB: Membership & Certification
NAWRB’s Membership Services Gets a Makeover A new look for the new market. N AWRB is always looking for new ways to stay up-to-date and be of service to our industry professionals. On that note, we are very excited to be able to share with the women of real estate our new structure of membership and certification services. With the growing positive outlook of the housing market, we are now able to offer our memberships for only $45/month.Additionally, our real estate specific, third-party, womenowned business certifications are only $495. Being a member of NAWRB will broaden your business possibilities and allow you access to a myriad of marketing and networking opportunities such as, but not limited to: •NAWRB member-only logo representation on your website and signature line; your company logo on our website (Don’t have one? We can create it for you.) •Discounts to industry conferences, seminars and conventions •Discounts on industry publications, services and products NAWRB’s official publication, N Magazine digital subscription • Opportunities to be featured in the magazine (CEO Center(fold), columns, Q&A’s and more) •Direct referrals on leads/listings and other business opportunities •Tri-weekly E-newsletter to keep you up-to-date on breaking industry news and special member-only promotions •Access to member-only webinars to provide educational training •Monthly mixers for networking and new business connections as well as guest speakers on educational topics 30 | N Magazine
Whether you’re a real estate agent, lawyer, title company, insurance or a consultant in real estate, you can become a member of NAWRB and take advantage of these opportunities that continue to grow. Be a part of NAWRB’s Exclusive NEXUS — a closed memberonly forum where our members are able to interact, compare business opportunities,
“…we are very excited to be able to share with the women of real estate our new structure of membership and certification services.”
ask questions and discuss business solutions. Women open businesses at a rate 1.5 times the national average. Those 8.6 million firms are generating more than $1.3 trillion in revenue and employing nearly 7.8 million people, according to the 2013 State of Women-Owned Businesses Report from American Express OPEN, a small-business arm of the company. California leads the nation with an estimated 1.1 million businesses owned by women, employing 983,000 people and generating about $198 million in sales, according to the report. One in three of those were minority-owned, researchers said. The report is based on data from a U.S. Census Bureau survey of businesses conducted every five years. American Express used information from 1997, 2002 and 2007 surveys to predict the 2013 figures. There is an advantage to representing a
By Lauren Felechner business as women-owned. Not a member and just want to bring in the business with a women-owned business certification in real estate? You can still explore the possibilities of a certification only for $495. NAWRB advocates for federal initiatives to increase the utilization of women-owned businesses, works with financial institutions encouraging more visibility for certified women-owned businesses in vendor networks and partners with organizations to foster a stronger and better connected community of women business owners. Certified businesses can tap into a multitude of public and private sector contracts and support client initiatives. The federal government is required to award 23 percent of federal prime contract dollars to small businesses. Five percent of its prime and subcontract dollars must be awarded to women-owned small businesses. The purpose of the WOSB program is to enable contracting officers to meet the goals listed above by limiting, or setting aside, certain requirements for competition solely amongst WOSB’s. It helps to ensure a level playing field for small businesses to compete. In order to be eligible, a firm must meet certain requirements: To take advantage of this opportunity, inquire at firstname.lastname@example.org for more information, details, questions and/or comments. We look forward to hearing from you and serving you in your membership and/or certification needs! Lauren Felechner is the media and membership relations coordinator at NAWRB. She may be contacted at email@example.com.
Join the collective voice certify your women- owned business market yourself for success
she is changing real estate support the womenâ€™s movement today nawrb.com/join
N Magazine | 31
Marketing Strategies: Home Staging
g n i t t e s HE SCENE T l
t’s no secret that homebuyers are skeptical these days. By properly staging every room in a home, real estate agents can successfully compete in their price range. Statistics from the National Association of Realtors (NAR) and the Real Estate Staging Association (RESA), showed that staged homes have an average of 78 percent less time on the market. With a little extra preparation, not only are the chances of selling increased, but you can also expect larger returns. For home stagers and real estate agents, it’s imperative to showcase the confirmed impact home staging has both visually and by sharing available data that home staging may increase the possibility of a sale. “Staging is especially important when working with small or tight spaces. Many condos left with a blank slate lend very little to the imagination and a vacant space can also appear to feel smaller than its actual size. By staging you help the space to appear warmer, larger, and also allows the client to see other possibilities that they may not have pictured with a vacant space,” stated Katrina Hamilton, realtor at The Jacques Company. In a challenging market,
32 | N Magazine
now is the time more than ever to learn how to diversify marketing techniques and make new business opportunities. Denise Moore, realtor at Prudential Gallo Realtors, said, “First impressions cannot be replaced. That’s why it’s important to have homes staged to make them stand out in our uncertain market.” Experts say only 10 percent of homebuyers can visualize the potential of a home. Staging has always been an important marketing tool to sell a home, but it’s important as the agent to assist the homeowner on staging. Make sure the 90 percent can see what the home has to offer and close that sale. Barbara Schwarz has educated realtors, home stagers and the public on home staging since 1972. Known as the inventor and true visionary who came up with the staging concept, Schwarz has built the staging industry from the start. A best-selling author, professional speaker and accomplished creator, she is one of the most influential women in the real estate industry. Schwarz invented the home staging concept and the industry when she entered the world of real estate as an agent in Bellevue, Wash., in the early 1970s. She quickly saw and realized
ws o l l a t tha l o o t t rtan me. o o p h m i a f n tial o me is a n e o t arz h o p a e a Schw g r h a t n i b r e g a z Sta isualriaphy provided by B v o t r e the buy oun // Photog a Calh
the need sellers have of preparing their homes for sale. Her background in the theater and music gave her the idea of setting the scene and setting the StageÂŽ for buyers to see properties in the best way. This is how she came up with her concepts and called it Home Staging. Schwarz has also personally staged and sold over 5,000 homes in the greater Seattle area. â€œI teach realtors how to communicate the potential of a home better and how to help with the sellers concerns. The way one may live in their home and the way one markets and sells a home are two different things,â€? Schwarz stated. The U.S. Housing and Urban Development (HUD) recently reported a staged house will sell an average of 17 percent higher than a home that is not staged. Even though the benefits of staging a home are evident, the secrets of the process and preparation are not always as apparent. When it comes to home staging, no room should be ignored and the design is in the details. Bathrooms must be cleaned with a fresh coat of paint and shower curtain replaced. Living rooms must be updated and cleared of all clutter. Most important, every room should N Magazine | 33
Marketing Strategies “The way one may live in their home and the way one markets and sells a home are two different things.” — Barbara Schwarz, Creator of Home Staging®
be staged with a distinct purpose so the potential buyer can visualize living there. For example, if you have a home office in a kitchen, it is not going to sell quickly. Showcase the square-footage by being strategic and creative with the space. A recent study indicated sellers who spend $500 on staging recovered 343 percent of the cost when they sold the home. In addition to professional Home Stagers that are certified to assist home sellers and realtors on home staging strategies, there’s a variety of mobile design apps that can assist realtors to help them do everything from hang artwork straight, finding the perfect paint color and calculators revealing the cost of listing a home staged versus not staged. First impressions are not just important in real estate — they are critical. Sometimes, just a few simple changes can make a big difference.
Carina Calhoun is editor-in-chief of N Magazine. She may be contacted at firstname.lastname@example.org.
C’s of Staging
By Barbara Schwarz
34 | N Magazine
A house should be sparkling clean. Clean houses are more appealing and buyers will assume they are better cared for. “If you can smell it, you can’t sell it.”
Clutter makes it difficult for a buyer to mentally move into a home. You need to clear out extra items, including some furniture. A home staged by an Accredited Staging Professional (ASP), may appear sparse to some, which is absolutely necessary to produce a home that appeals to the most buyers.
*INITIATION FEE NOT INCLUDED
For More Information, visit NAWRB.com
The color on the walls should be neutral and flow from room to room. You can add splashes of color with accessories in each room, rather than with paint and carpet.
The essence of staging is creativity; using what you already have in new and interesting ways. ASPâ€™s are trained in being creative. They are drawn to home staging and can help sell homes faster and for more money.
Many times you will need to compromise because there are not enough funds in the budget. For example, suppose that you have one room in good condition, but the tile is the wrong color. There are effective ways to minimize the color to make it look great.
Effective staging communicates a message of space and openness. It sends a message of being Q-tip clean and having the right colors that invite people in instead of turning them away. The staged home message brings in buyers and leads to a sale.
It takes commitment to get a house staged. The seller needs to be committed, the stager has to be committed as well as the real estate agent. When all are committed, the house will be staged to its very best and that means a sale will follow for the best of all concerned.
N N Magazine Magazine || 35 35
BOARD OF DIRECTORS By Carina Calhoun
NAWRB is pleased to announce its full list of Board Members and
associated Chairs. NAWRB is the only trade association exclusively representing and voicing the needs of women business owners in the housing economy. The 2013 Board of Directors will serve for the calendar year and continue the association’s growth that it has experienced in years prior. Members have been elected to the 2013 NAWRB Board of Directors for their experience in the industry and expertise in their area. The members represent some of the most successful women in real estate and are responsible for key areas of development. N Magazine is proud to be the official publication to the NAWRB and highlight these women.
NAWRB/Desirée Patno Enterprises, Inc. Desirée.Patno@NAWRB.com
The Beckles Collective, LLC iBeckles@TheBecklesCollective.com
Desirée Patno, Founder and CEO of NAWRB, the only national trade association representing women-owned businesses specializing in the housing economy, SHE is changing Real Estate. With more than 22 years experience in full-service REO disposition, Patno brings “heels on the ground” knowledge to her mission of promoting women-owned businesses in the housing economy. Through NAWRB, Patno advocates for the increased utilization of womenowned businesses and mentors female entrepreneurs for future successful business ownership. Patno is one of the most visible advocates for women in the housing economy. She is a recipient of the 2012 Enterprising Woman of the Year award, 2012 WIPP Business Leadership Social Media Award and was recognized by HousingWire as one of the most influential women in housing in 2012. A California native, she has been married for more than 30 years and is the proud mother of four boys. 36 | N Magazine
Regulatory & Policy Chair
Ingrid Beckles is the Founder and CEO of The Beckles Collective LLC. Beckles is a key figure in housing finance and policy, with a unique and holistic combination of 20 years of diverse mortgage experience in credit policy, operations, risk management, and servicing. She is best known for her role as Senior Vice President of Default Asset Management for Freddie Mac from 2003 to 2010. During the housing crisis in 2009, Beckles worked intensely with the regulators (FHFA), the Treasury Department, members of Congress, and the New Administration to ensure that Freddie Mac’s pre-conservator expertise was communicated for proper consideration in developing the New Administration’s Making Home Affordable Mortgage Program. In 2010, Beckles was recognized by Black Enterprise as one of the 75 Most Powerful Women in Corporate America. She was also profiled in the same year in Women of Color magazine.
Government Relations Chair
Melco, Inc. MissMel10@aol.com
Melva Wagner is the Owner and President of Melco, Inc., a real estate and construction management company in Key West, Fla. With more than 35 years of experience in all areas of asset management, Melva is a team leader of 15 real estate professionals. As a Presidential Appointee during the President George H.W. Bush Administration in 1989, Melva assisted minority- and women-owned small businesses with obtaining contracts through the federal government. Melco, Inc., recently received Small Business Administration (SBA) 8(a) certification, enabling the company to be awarded sole source contracts through the federal government.
Women-Owned Business Certification Chair
Fire, Inc. ccim@Fire-REO.com
Tania Leider is the Broker/Owner of FIRE, Inc., a women-owned real estate brokerage servicing the central Colorado counties. Leider has been recognized by the Denver Business Journal as one of the “Top 25 Residential Real Estate Brokerage Offices” and one of their “Heavy Hitters in Commercial Real Estate.” Leider has been in the real estate business since 1996.
Goodchild Homes Liz@GoodChildHomes.com
RE/MAX Executives Yuri@IdahoHomeShop.com
N Magazine Chair
Elizabeth Goodchild has been licensed in real estate since 1989 and the Broker Owner of Weichert Realtors Goodchild Homes since 2008, an independent franchise of Weichert Realtors Affiliates. Goodchild is Minority and Women-Owned Certified by the Chicago Minority Supplier Development Council. She has been voted as one of the “Top Realtors in the Chicagoland Area” by Chicago magazine in 2011, she holds a CPA degree, MBA, and a number of real estate designations: ABR, CDPE, CRP, CRB, CRS, GRI, and SRES. Goodchild is a mother to Grace (12) and twin boys Darien and Daniel (9), and wife to Broker Associate David at Weichert.
Woman With Access Representative
Smith & Associates Title Services, Inc. Renee@SmithTitleServices.com Attorney Renee Marie Smith is a 15year real estate industry expert; author of My Short Sale Guru’s Guide listed on Amazon. com, and Host of Fox29 TV’s 2012 Short Sale Guru Show. In 2007, Renee opened her own real estate firm and in 2009, she founded the statewide title company, Smith & Associates, to be an advocate for discouraged homeowners. She has counseled thousands of short sale participants and her company has handled in excess of a thousand short sales. She has been a guest speaker at conventions around the country as well as radio. Smith is shaping the short sale landscape and we expect to see her influence on the national real estate industry to continue to increase.
Member at Large
Yuri Blanco is the Broker/Owner of Idaho Homes and obtained her real estate license in October of 2004. Her real estate career began with RE/ MAX Advantage as a new construction specialist managing and selling new construction homes in Caldwell, Idaho. The subdivision she manages has 279 homes and she sold out the community in less than a year. After that she was a warded three other communities for the same builder in the Meridian, Idaho area. With the shift in the market in late 2006, Blanco turned to short sales and REOs. She started to market to asset management companies and got her first opportunity with a outsourcing vendor for Fannie Mae direct. She continues to strive for excellence and looks forward to continuing to grow.
BRANDY NELSON Member at Large
Nelson Realty RedTopRealty@gmail.com Brandy Nelson was featured as N Magazine’s CEO Center(fold) in 2012’s March/April issue because of her passion and dedication as a top ranked residential and commercial broker in the Palm Springs and Desert cities of California. In addition, she is 2012’s Roaring Twenty Entrepreneur of the Year in recognition of the formation of Red Top Realty, a women-owned business that offers the full spectrum of real estate services. Nelson is also with KW Commercial and Keller Williams Realty. She has managed multimillions in building acquisitions and dispositions, leasing, building renovation, and tenant improvements. She is active in the commercial real estate community, on the agent leadership council with
Keller Williams, and on the Board of the Women Council of Realtors as Membership Chair. She is constantly striving to improve and grow her business and community around her.
Woman With Access Representative
Thunderbird Real Estate Heidi@CalWestREO.com
Heidi Robinson, with Thunderbird Real Estate in Santa Cruz County, Calif., has 10 years of fulltime professional experience in specialized real estate services. She has extensive knowledge with all types of real estate including beach front property, high end luxury homes, rural land and distressed properties. Heidi is a founding member of the CalWest REO Team, a successful organization dedicated to default services. In addition, Heidi’s knowledge of the real estate industry continues to develop through her commitment to education at conferences and events. Heidi has been an invited speaker at her local real estate board, as well as the 2011 and 2012 California Association of Realtor conferences. She has vast experience in management, employee training and twenty years of experience in organizing community events.
Membership & Events Chair
Quality Real Estate Services, Inc. Dianne@DianneLangston.com Dianne Langston hails from Northern California, with 29 years experience in the real estate industry. She is the owner of Quality Real Estate Services, Inc. and has worked extensively in REO and residential resale. Langston is a huge Miami Heat fan. N Magazine | 37
Join the N Crowd to be considered for publication in the N Crowd, respond with creative solutions you’ve used to better manage your businesses, families, and selves. To find out the next issue’s questions, email info@NAWRB.com.
WHAT DO YOU LOOK FOR IN A WOMEN’S ORGANIZATION? Cindy Wu Keller Williams Realty Luxury Division, Realtor email@example.com
Patty Kelly Power Brokers International, Realtor firstname.lastname@example.org
Carole Tyne HomeSmart Elite Group, Realtor email@example.com
Susan Hasten Hilton Century 21 Beal, Inc., VP of Sales firstname.lastname@example.org
Katherine Castillo First Team Real Estate, Realtor email@example.com
Pat Quan-Koch Pat Koch Real Estate Group, Owner/ Broker firstname.lastname@example.org
Kandy Clayton Clayton & Associates Real Estate, Owner/ Broker Kandy@UtahHomesInfo.com
38 | N Magazine
The three most important things I look for are: networking, leadership, education. - Pat Quan-Koch I agree. I like the opportunities presented to meet others in the industry, learn about changes that I may not have been aware of and meet people from outside the industry that are able to give a different perspective. - Kandy Clayton I look for a friendly supportive environment, covering issues that pertain to women and women empowerment. - Cindy Wu To me, referrals are very important and something I look for when researching women associations. - Susan Hasten Hilton I want to build connections between those who buy, sell, and manage residential and commercial real estate, while promoting consumer education nationwide. - Katherine Castillo I would like to grow my business and my network with new referrals turned into lasting business relations. - Susan Hasten Hilton Information of what is going on in the business yesterday, TODAY, and in the future is important. - Carole Tyne Yes! Issues or niche which are specific to women, perhaps how man and woman are different (thinking process, style, etc.) and dealing with women co-worker or clients etc. - Cindy Wu I really expect to get the latest and greatest news for our business, and get the stats for woman in real estate, and how they truly make a difference. - Patty Kelly
2013 AREAA NATIONAL CONVENTION SEPTEMBER 19-21 HYATT REGENCY LOS ANGELES PRICING EARLY BIRD MEMBER $349 NONMEMBER $549
(B E F O R E 8 . 1 6)
PRICING REGULAR MEMBER $459 NONMEMBER $649
WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUS NESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUS NESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED ForBUSINESS more information, visit NAWRB.com BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUS NESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUS NESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESSWOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED N Magazine | 39 BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS
BRING IN THE
What Women Want: Health
Prevention is Better Than Correction
Reviewing Dermalogica Imagine your skin cells as a network of strands that work together in the same way the basic structure of a home does. The main frame of a home is the equivalent to the role of collagen and elastin in your skin’s composition. A home also needs windows, floors and ceilings, just like skin needs fillers or cushioning to support the whole structure. Everyone should customize their own unique skincare regimen based on the type of skin they have. If your skin is dry, find ways to hydrate it more effectively without the having a complicated regime. People with oily skin, however, may require less hydration and more steps to dry out the skin in order to prevent skin irritation. Most commonly, most people have a combination of both dry and oily skin, which requires a balance of hydrating products while avoiding moisturizing too much.
40 | N Magazine
by Jackie Andoniu
MULTIVITAMIN POWER SERUM
One of my favorite parts of Multivitamin Power Serum is my skin feeling fresh without any harshness when washing my face. At first, I was hesitant to try the Multivitamin Power Serum because I assumed it would only work against wrinkles and aging skin. To my surprise, the list goes far beyond wrinkles and aging, such as: dark spots, acne scars, sun spots, pore visibility, etc. My skin still feels fresh and soft after using this product, as opposed to raw and exposed as I have felt after using other products. I did use the whole tube, before deciding if I enjoyed the product, and excitedly watched the transformation in my face and skin. A good moisturizer, age appropriate eye cream and a good SPF are pretty much all you need to maintain good looking, healthy skin. All you need is a small amount (less than a dime sized drop of the serum) to spread all over your face. Follow that with your regular moisturizer and eye cream and you’re ready to go!
SKIN PERFECT PRIMER
I have dealt with very sensitive skin my whole life and I am always very nervous about trying new facial products. This time, I was pleasantly surprised with my lack of breakouts when using Dermalogica’s Skinperfect Primer. I was able to incorporate it into my daily makeup routine without experiencing much irritation, which commonly happens when trying a new product. Since it has a high SPF content, I would recommend allocating time to let the primer dry before continuing the rest of your makeup routine. Other than that, I had no trouble with it at all and would gladly recommend it to most, especially since my skin is so sensitive and tried so many products. It smoothed and evened out my skin out and even added a little shimmer across my face, which enhanced my usual make-up routine. I would definitely recommend this product to someone who is looking for a good, protective makeup primer and wants to avoid having skin irritation.
Fashion: What Women Want
CO L OR
Make your working wardrobe stand out this summer season. By Samantha Cauguiran
Looking professional plays a large part in becoming successful in business. Wearing black and white from day-to-day is boring and uninteresting. Don't sacrifice your individual style on the job. The fastest and easiest way to play up your plain work wardrobe is adding in color. A simple pop of color can brighten up your look and change your whole mood. Wear your favorite color or sport a bold shade like hot pink, green, or neon yellow. Try keeping it to one or two colors and keeping everything else neutral.
Yellow is a light and playful color to add a dash of flare to your attire. A creative way to top a professional dress or capri pants and a blouse is including a blazer with a color that can make you shine. Yellow is related to expression and integration of new thoughts to keep you mind (and spirit) in top shape throughout your work day.
There is no bolder statement than a chunky turquoise necklace with a professional dress. A colorful, yet classy, fashion trick to brighten up a plain ensemble. The feminine effect and eye-catching appeal is the perfect piece to add a small touch that makes a huge impact on the overall outfit.
A handbag is a great way to add a punch of color to your work wardrobe. Toting around a red handbag grabs people's attention and is the color of energy and passion â€” two must-haves for every women in real estate.
Purple Pumps Coral Pencil Skirt
Coral is making a comeback this summer. Donâ€™t be shy to splash your black or white blouse with a colorful skirt to balance it out. This will instantly take the outfit from boring to bold while also showing off your personal style.
A pair of pumps is an essential for any businesswomen. A pair of purple pumps to complete a look, however, shows confidence. Adding interesting pieces with items that are already in your closet is a great way to expand a wardrobe and makes getting dressed for work fun again!
N Magazine | 41
What women want: Recipe
Sparkling Raspberry Drink An easy and refreshing summer drink to serve at your next open house. offering a taste of a delightful day drink is a perfect way to add effortless elegance and a thirst-quencher to the sizzling summer selling season. ingredients 1 1/2 cups raspberries, washed 1 lemon, juiced 3 tablespoons sugar or agave syrup, or to taste 3 cups sparkling water mint, for decoration
w ci pe na @ by n Ple www. ou h l wishfu as e a lchef.com sub m a.c n i r it y our favorite recipe to ca
1. Place raspberries, lemon juice and sugar into a blender and blend until smooth. 2. Pour mixture into a fine sieve and strain to remove the seeds. 3. Add ice to serving glasses and fill each glass with raspberry syrup equally. 4. Top each glass with sparkling water. Stir and enjoy! Total Time: 10-15 minutes Yield: 4 servings
42 | N N Magazine Magazine
Reviews: What Women Want
READ IT & WATCH IT BOOKS Lean In: Women, Work and the Will to Lead By Sheryl Sandberg Review by Carina Calhoun
The Facebook COO has written a “feminist manifesto” (as she writes in the book) about women in the workplace, lamenting the role of females in leadership positions and urging women to be more assertive in their professional ambitions. Her strong call for gender equality is a voice that needs to be heard in the corporate world and in any industry. Sandberg stamps her claim as the voice of contemporary feminism.
Brand Relevance By David A. Aaker Review by Jackie Andoniu
Aaker uses a variety of case studies from well known companies like Whole Foods and Apple to illustrate how brand relevance drives market dynamics. This strategy generates new opportunities for your brand and explains how that can affect your competitors. Learn how to create a new level for which doesn’t make your business the best; it makes your business the only brand favorable, essentially eliminating your competitors.
Eat That Frog!: 21 Great Ways to Stop Procrastinating and Get More Done in Less Time By Brian Tracy Review by Jackie Andoniu
Tracy’s book is a compilation of ideas and techniques from many influencers in the time management and personal productivity industry. This book covers many different ways of overcoming procrastination and it makes it very accessible for people to apply the techniques. The advice given all comes from the real life experience of the author, and the focus of the book lies in actionable exercises and tips you implement right away.
Have you read or watched something lately that impacted you? Share your thoughts with N Magazine’s editorial staff and readers. Send reviews to email@example.com
films Steve Jobs: The Lost Interview Review by Lauren Felechner
Shot in 1995 for “Triumph of the Nerds,” a documentary series broadcast on PBS, and until recently presumed lost, the roughly hour-long interview by Robert X. Cringely never aired, except for a few minutes of footage. This unique film offers intriguing insights into the mind of the late Apple chief executive and high-tech visionary. A must-see for the technology buffs and entrepreneur seekers.
Girl Rising Directed by Richard E. Robbins Review by Carina Calhoun
This social-conscious documentary presents the heartrenching stories of nine girls from as many developing countries who overcome adversity. The girls face arranged marriages, child slavery, and other heartbreaking injustices. Despite these obstacles, the brave girls offer hope and inspiration. By getting an education, they’re able to break barriers and create change. Each girl’s story was written by a renowned writer from her native country.
The Great Gatsby Starring Leonardo DiCaprio Review by Lauren Felechner
Set during the Roaring Twenties, this is a story of desire, intrigue, forbidden love and murder. A war veteran from Minnesota strays from his Midwestern roots and heads to New York in the summer of 1922 to learn about the bond business, finding himself drawn to the lifestyle of his millionaire neighbor, Jay Gatsby. Status and appearance is everything - leading the characters into a world of greed and dishonesty and ultimately leading to Gatsby’s demise and Nick’s return home. N Magazine | 43
SPEAK WRITE, ATTEND NETWORK
Ingrid Beckles on WIPP & Industry Insight February 2013
From the Living Room to the Board Room by Renee Smith MARCH 2013
NAWRB and Short Sale
highlights from Beckles’
Guru, Renee Smith,
time at the Women
discusses topics such as
Impacting Policy (WIPP)
the fastest way to build
event in January 2013,
business, costs of business
hosted in Washington D.C.
development and best
Also, Beckles shares her
ways to utilize technology.
industry insight with an interview clip offering tips
The Feeding and Caring of Your Short Sale “S” Crow APRIL 2013
Board Chair and member,
Lisa Ristow & Vince Arcuri on Hedge Funds FEBRUARY 2013
Dianne Langston, shares her expertise about short sales. Chrissy Sittinger,
NAWRB member Lisa Ristow provides great
Escrow Officer of Placer
insight and education on diversifying your
Title Company, also joins
business using hedge funds and how to help
Langston discuss the
your business grow.
process of short sales and other useful tips.
REOMAC // April 7 - 10, 2013 Dallas, Texas 5 Diversifications of Certifications Are you missing leads and business opportunities with your current clients and
From Meltdown to Transformation: Facing the Next Generation of the Mortgage Industry // April 18, 2013
Short Sale Expo Palm Desert, CA “5 Things to Do or Avoid in Short Sales” // May 3 - 4
in government contracting? Desirée Patno
Desirée Patno and board member of NAWRB,
moderated a panel to discuss five most
Thriving in today’s mortgage industry requires
Renee Marie Smith, Esq., discussed short
important business certifications are, how
innovation, new technologies, and new
sales on a panel and Smith’s book, “My
to become certified and what the benefits
operating models. The one-day symposium
Short Sale Guru’s Guide for Real Estate
are to you to have your company certified.
brought together practitioners and industry
Professionals to Empower and Invigorate
Educating on how to maximize your
experts to discuss transformation strategies
Sales” (available on Amazon.com)
marketing, generate new sources of income
that can drive the highest possible value to
by expanding your business model and
all stakeholders. Desirée Patno and board
support your client’s initiatives after you have
member of NAWRB, Renee Marie Smith,
Esq., attended the event. Don’t forget to subcribe to NAWRB’s YouTube channel SHEisNAWRB to keep up with the latest Web4Alls
44 | N Magazine
WRITE ATTEND NETWORK
SCOTTSMAN GUIDE Close Up on REO Deals march 2013
Former director of marketing and communications for NAWRB, Crescent Seward, explained the housing crisis hit in 2008 and how the Housing Economic Recovery Act made the Federal Housing Finance Authority (FHFA) the exclusive supervisory regulator of the government-
sponsored enterprises. Since then, in the
Five Minutes With Desirée Patno Interview January 2013
eyes of many mortgage professionals, the
Women face challenges from accessing the
guidelines across the board.
industry has begun to over-correct itself and has created more conservative underwriting
housing market to purchasing the property, and Patno shares expertise about how to avoid the obstacles. Patno shares her view on women, the real estate industry, and her mission to educate about the advancements
HOUSINGWIRE REO-to-Rentals June 2013 Desirée Patno uncovers the concept behind
women have made over the years. With
REO-to-rentals and the big players that
over 20 years of real estate experience,
are growing the numbers, as well as the
Patno encourages women to become more active in the homeownership process.
THEPRESSENTERPRISE.COM Real Estate: Will 2013 bring an industry shift? January 16, 2013 The Press Enterprise recognizes board chair Brandy Nelson and her accomplishments within the real estate industry and NAWRB. Nelson is applauded for staying tough
challenges and potential obstacles created by this booming market.
"The REO-to-rental concept can be a flexible, viable business plan, but potential investors should enter the market with their eyes wide open."
within the Inland region, when most opted out. Nelson was deemed “Entrepreneur of the Year” after selling over 102 properties in 2012 and altering her services to clients and banks in order to accommodate leasing, rentals, sales, and more.
N Magazine | 45
AREAA Event Chicago, IL February 2013 NAWRB Board Member, Elizabeth Goodchild, at the Asian Real Estate Association of America’s (AREAA) event in Chicago, Ill., advocating for women in real estate.
REOMAC April 2013 Bubba Mills, Teresa Ryan and Desirée Patno take a moment to pose for a picture at REOMAC in Dallas, Texas.
Short Sale Expo May 2013 NAWRB Board Member Dianne Langston and Desirée Patno share a shot at the Short Sale Expo in Palm Desert. Calif.. promoting the association and networking.
AREAA Summit 2013 May 2013 NAWRB member Angelica Suarez stops by the NAWRB booth at AREAA Summit 2013 in Los Angeles, Calif., to pose with our purple SHE bag.
Desirée Patno holds down the fort at the NAWRB table at AREAA Summit 2013 and informs the crowd of the benefits of being a member.
Ivan Choi of WCS Lending poses with Desirée Patno at the NAWRB booth.
46 | N Magazine
SPEAK WRITE ATTEND
June 20 // REOMAC Board and Dinner Meeting
October 27-30 // MBA Annual Convetion & Expo
July 9-11 // CMBA 41st Annual Western Secondary Market Conference
September 18-21 // AREAA National Conference
Meet with your peers and discuss solutions to some of our industry’s most pressing
Los Angeles, CA
issues. Cast your vote for our industry’s future
San Francisco, CA
The 2013 AREAA National Convention focuses
and join for what could be the single most
on professional development for real state
important event for the industry this year.
practitioners who have a passion for creating
November 6-10 // WCR National Annual Conference
July 10-12 // San Francisco Real Estate Connect
American consumers. By attending this event,
San Francisco, CA
you will renew your commitment to being a
Thousands of influential real estate leaders
leader in your market, reinvent your business
gather here to see the future of real estate,
and marketing strategies, and reconnect with
Take your business to new heights with
and learn how to embrace and leverage the
like-minded professionals who will inspire you
Women’s Council National Conference. This
exciting conference packed with top-notch
change for your business. www.realestateconnect.com
July 28-30 // Real Estate Investor & Fund Manager This event is the Premier Educational
education plus opportunities to connect with
your peers from around the country will take
October 6-7 // WCR State Meeting
place at the Women’s Council headquarter hotel, the Westin San Francis.
Long Beach, CA
October 8-10 // CAR Expo
Conference on buying and selling notes. It
San Francisco, CA
Long Beach, CA
will bring together investors, private lenders,
California Realtor® Expo is the premier trade
hard money lenders, fund managers, brokers,
show for California’s real estate industry.
attorneys, CPAs and leading service providers
The annual event features one-of-a-kind
to learn and share where the opportunities
November 8-9 // National Association of Realtors Conference and Expo San Francisco, CA
educational, networking, and professional
The expo is the largest trade show floor in
are and how potential growth and current
real estate, where 400 exhibitors will be on-
yields can help deliver returns to you and
specifically for California REALTORS®.
your clients. www.aaplonline.com
September 8-10 // The Five Star Conference and Expo Dallas, TX Experience interactive debate style sessions where panelists engage in a friendly discussion on opposing viewpoints. Moderators will monitor speakers, giving each the opportunity to present their side of the solution to industry problems.
hand with innovations and ideas. Solutions
addition, hundreds of top industry vendors
showcased at the expo include: Tech tools;
and service providers showcase their latest
Real estate software; Internet advertising;
products and information in the Exhibit Hall.
Mobile devices and applications; Mortgage
and financial services; Home protection and
October 9-10 // WIPP Annual Leadership Meeting Washington D.C. www.wipp.org
warranties; Professional development and training; Franchises and referral services; Office products; “Green” innovations and Real estate properties and developer referral programs. www.realtor.org
www.fivestarconference.com N Magazine | 47
INDEX ADVERTISERS A AREAA..........................................................39
H Harmony Escrow, Inc. ...................................2 HousingWire.............................................3, 15
U US Best Repair Service, Inc.........................52
Federal Housing Authority (FHA)..................23 Federal Housing Finance Agency (FHFA).....23 FIRE, Inc. .........................................10, 16, 36 First Team Real Estate .................................38 Fortune 500..................................................21 Freddie Mac.....................................23, 25, 36
G Goodchild Homes.........................................17 Google..........................................................20
H Hearsay Social..............................................20 HomeSmart Elite Group...............................38 HousingWire...........................................36, 45
Idaho Homes................................................37 IHS Global Insight.........................................19 Inman News.......................................5, 20, 21 Instagram.....................................................13
A Amazon.com................................................37 American Express OPEN...................5, 26, 30 American Rental Association........................19 American Residential Properties, Inc. .........18 AREAA....................................................46, 47
B Black Enterprise...........,...............................36 Blackstone Group...........,............................18 Better Homes & Gardens.............................29
C California Association Realtors....................47 CalWest REO Team......................................37 Carrington Property Services.......................44 Century 21....................................................12 Century 21 Beal, Inc. ...................................38 Chicago Mag................................................37 Clayton & Associates Real Estate................38 Colony Capital..............................................18 Consumer Bureau Financial Protection..22, 23 CoStar Group...............................................18 Countrywide.................................................17
D Denver Bus Jou............................................36 Dermalogica.................................................40 Desirée Patno Enterprises, Inc. ...................16 DSNews.......................................................45
K Katie Lance Consulting.................................21 Keller Williams Realty Luxury Division..........38 KW Commercial............................................37
L Long and Foster Realtor .............................25
R Real Estate Staging Assocation (RESA).......32 Red Top Realty..............................................37 RE/MAX Executives...............................17, 37 Rent.com......................................................12 REOMAC..........................................44, 46, 47 RISMedia......................................................18
S SalesForce.com...........................................20 SBA....................................................5, 26, 36 Scottsman Guide.........................................45 Sequoia Capital......................................20, 21 SignNow.......................................................13 Smith & Associates Title Services, Inc...17, 37 Starbucks.....................................................20
T The Beckles Collective, LLC..................16, 36 The Colorado Real Estate Co. .........11, 15, 36 The Jacques Company.................................32 The Press Enterprise.....................................45 The Ristow Group...............................4, 28-29 Thunderbird Real Estate.........................17, 37
U United States Department of Agriculture (USDA)..........................................................23 U.S. Department of Housing and Urban Development (HUD).............15, 23, 25, 29, 33 U.S. Small Business Administration (SBA).. 26
Melco, Inc. .............................................17, 36 Microsoft .....................................................20 Mortgage Banker’s Association ............23, 47
NAHREP ......................................................47 National Association of Realtors (NAR).......18, 32, 47 NAWRB ...4, 5, 6, 8, 10 11, 13, 30, 36, 44, 45, 46 NEA........................................................20, 21 Nelson Realty.........................................17, 37 New Century.................................................17
Waypoint Homes Realty Trust......................18 Waypoint Real Estate Group........................18 WCS Lending...............................................46 Weichert Realtors Goodchild.......................37 Weichert Realtors Affiliates Homes..............37 Women Council of Realtors (WCR)........37, 47 Women Impacting Public Policy (WIPP)........5, 26, 44 Women of Color Mag...................................36
Veterans Affairs (VA).....................................23
Pat Koch Real Estate Group.........................38 Placer Title Company....................................44 Power Brokers International.........................38 Prudential Gallo Realtors..............................32 Pulte Mortgage.............................................23
Facebook....................................12-13, 20, 43 Fannie Mae.......................................23, 25, 37
Arcuri, Vince.............................................4, 44
Quality Real Estate Services, Inc. .........16, 37 48 | N Magazine
Beckles, Ingrid..................................16, 36, 44 Bernanke, Ben..............................................22 Blanco, Yuri............................................17, 37
Jackson, Joan................................5, 6, 24, 25 Johns, Marie.................................................26
Quan-Koch, Pat........................................5, 38
C Castillo, Katherine........................................38 Choi, Ivan.....................................................46 Clayton, Kandy.............................................38 Cohen, Celia...................................................9 Cordray, Richard...........................................22
Kasoff, Barbara........................................6, 26 Kelly, Patty....................................................38
Ristow, Lisa...............................4, 5, 28-29, 44 Robinson, Heidi..................................9, 17, 37 Ryan, Teresa.................................................46
Lance, Katie....................................5, 6, 20-21 Langston, Dianne.......................17, 37, 44, 46 Leider, Tania.....................................10, 16, 36 Loelkes, Carmela..........................................29
Schwarz, Barbara.............................32, 33, 34 Seward, Crescent.........................................45 Shih, Clara..........................................5, 20-21 Sittinger, Chrissy...........................................44 Smith, Renee....................................17, 37, 44 Still, Debra W. .................................5, 6 22, 23 Suarez, Angelica...........................................46
DesVeaux, Helen Liu........................11, 15, 36
G Garrity, Steve................................................20 Goodchild, Elizabeth........................17, 37, 46 Goodson, Wendy..............................18-19, 27
Mills, Bubba..................................................46 Moore, Denise...............................................32
N Nelson, Brandy.............................................17
H Hamilton, Katrina..........................................32 Hawkins, Chris..............................................13 Hazelton, Scott.............................................19 Hilton, Susan Hasten....................................38
O Obama, Barack.............................................22
P Patno, DesirĂŠe..................8, 16, 36, 44, 45, 46
T Thorne, Bev..................................................12 Thornberg, Christopher............................6, 16 Tyne, Carole..................................................38
W Wagner, Melva..................................10, 16, 36 Wehrman, Christine......................................19 Wu, Cindy......................................................38
GET SOMEONE IN THE KNOW. REFER A FRIEND. GET 5% CREDIT. For more information, visit NAWRB.com
N Magazine | 49
CHR MATA NC.
Invest and Find REAL profit with
CHRIMATA, INC. Be the investor in your real estate market Chrimata, Inc. is a real estate investment and management corporation with more than 12 years of experience in buying, selling, rehabbing, maintaining and managing single-family residential properties in multiple states.
Just closed Sundance with over 21% profit.
LEGAL DISCLAIMER: Chrimata, Inc. nor its employees can predict the actual profit on a future transaction. Past history does not guarantee future performance.
Website: www.chrimatainc.com â€˘ Phone: (714) 396-6622 â€˘ Email: firstname.lastname@example.org 50 | N Magazine
N C O N C L U S I O N
â€œI want every little girl who's told she's bossy, to be told instead she has leadership skills.â€? Sheryl Sandberg, Lean In: Women, Work, and the Will to Lead N Magazine | 51
52 | N Magazine