SAMCAR {RE}source | September 2008

i. 6 / vol. I

September

2008

Monthly Newsletter of the San Mateo County Association of REALTORS速

www.samcar.org

In this issue

SAMCAR

Message from the CEO page 1 Message from the President page 2 Member Appeciation BBQ & Softball Game page 3 PRDS Updates page 5 Welcome New Members from August 2008 page 2

Legislative Redwood City Ballot Measures page 4 Peninsula Legislative Committee Meeting Schedule Change page 4

CAR

Housing Stimulus Package page 6 CAR July 2008 Sales & Price Reports page 6

MLS

MLSListings, Inc. Updates page 5

August 7th

SAMCAR BBQ & Softball Game see page 3

REMINDER!

SAMCAR office closed in observance of Labor Day on Monday, September 1.

Association News

Monthly Newsletter of The San Mateo County Association of REALTORS®

Philip B. Tedesco, RCE, CAE

www.samcar.org tel. (650) 696-8200 fax (650) 342-7509 Board of Directors 2008 President President Elect Region 25 Chair Director Director Director Director Director Director Director Director Affiliate Director Director Director Director

Sue Walsh Olivia T. Edwards Geoffrey Craighead Tim Auran Eric Berggren John Clifford Nini De La Fuente-Pecson Bobbi Decker Suzan Getchell-Wallace Anne Oliva Jennifer Tasto Edgar Tulcanaza Sue Vaterlaus Marianne Zanone Rush David Zigal

Chief Executive Officer Philip B. Tedesco, RCE, CAE Editorial Team Michon Coleman Director of Public Affairs Dalen Gilbrech Publications Designer Our Vision The Voice for Real Estate Professionals and Property Owners in San Mateo County.

SAMCAR {RE}source is published monthly by the San Mateo County Association of REALTORS®, 850 Woodside Way, San Mateo, CA 94401 and distributed to more than 4,000 recipients. E-mail samcar@samcar.org your questions or comments.

Copyright © 2008

SAMCAR Chief Executive Officer

Message from the CEO It is hard to believe that September is already upon us! A lot is happening at SAMCAR, so time has passed by quickly.

Last week, President-Elect Olivia Edwards and I attended the NAR Leadership Summit in Chicago. Addressing leadership from Associations across the country, NAR 2009 President Charles McMillan discussed his theme, “United Toward Tomorrow,” and shared with us his agenda and priorities.

Next week, we will be in Los Angeles at the CAR 2009 Association Presidents Leadership Symposium, continuing to prepare for the coming year.

At its August meeting, the Board of Directors approved revisions to the Strategic Plan, which will guide the organization through 2009. Additionally, a task force was set to finalize a SAMCAR Organizational and Policies Guide that will clearly define staff and volunteer leader roles, and organizational policies. The creation and adoption of these important documents this past year is the first important step in building a solid foundation for SAMCAR. Your volunteer leaders should be commended for embracing these critical challenges.

SAMCAR’s election for the Board of Directors has closed. Congratulations to Sue Vaterlaus, RE/MAX Dolphin, Phillip Houston, Coldwell

Banker, and Robert Brisbane, McGuire Real Estate, for receiving the most votes from the membership! Each will begin a 3-year term on the SAMCAR Board of Directors beginning January 1, 2009. Thank you to all the members who participated in this election.

Next week, SAMCAR will be introducing the Affiliate Directory, which will be a comprehensive guide for members to reference when they need real estate service providers to assist them with their transactions. Later this month, SAMCAR will host its Annual Charity Spaghetti Feed & Auction on Thursday, September 18th beginning at 5:00 pm at the Peninsula Italian American Social Club in San Mateo. Tickets are $25 and proceeds will be going to the San Mateo County Association of REALTORS® Foundation. This year, an Arm Wrestling Contest has been added to the event, so be sure to come down and cheer on your favorite competitor! For more information, or to sponsor or sign up for the event, contact Beckie Patane at (650) 696-8220. I look forward to seeing you there.

As always, my door is always open. If there is something you think SAMCAR should be doing, or if you have any questions or concerns about your membership, please stop in for a visit.

Or, you may call me at (650) 696-8221, or e-mail me at ptedesco@samcar.org.

Association News

September 2008

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Welcome New Members

The Following Members Joined in August 2008

Sue Walsh

2008 President

Realtors

Message from the President JoAnn Bonifacio, Century 21 Alliance DC

As fall approaches my message to you is still:

WE WANT YOU!!!

That has become a familiar mantra this year as we have reached out to all of our members and encouraged their participation and involvement with SAMCAR. Our membership is a composite of the Baby Boomers, Gen X, and Gen Y, and SAMCAR is focused on serving each and every member well!

Now that the Director Election is over, we welcome three new Directors to the SAMCAR Board! They will represent you and be your voice as decisions and policy are made that affect you and your business in organized real estate. Through all of us your voice will be heard locally at SAMCAR, on a statewide level at CAR and on a national level with NAR. But where do our leaders come from, and what background do they have to carry this solemn responsibility? That is a question that your Board of Directors has strategically

Paul M. Chan, Hanford Properties

addressed with the resulting decision of developing a Leadership Academy. The goal will be to identify and bring forward new leaders with the knowledge, skills and support needed to go into the future.

The following quote from Marian Anderson sums it up perfectly, “Leadership should be born out of the understanding of the needs of those who would be affected by it.” And so we look to all of you.

Are you one of SAMCAR’s future leaders? Do you have interest in becoming involved and serving your Association? Can you empower others? Would you be willing to represent our membership and carry their voice? Can you forge new paths and envision SAMCAR as a model association for all REALTORS®? Would you be willing to make the commitment in return for growth and knowledge? If so, I look forward to hearing from you. The rewards of joining are great and change is in the air!

Save the Date!

Carmen Chong, Casa Latino Bay Area Realty Tom Dorsey, Summer Hill Brokerage Inc. Hui Leng Khoo, Coldwell Banker Brittany Maalona, Alain Pinel Realtors Lisa M. Maley, Lisa M. Maley, Broker Scott Andrew Meyer, RE/MAX Dolphin R.E. Kathleen Moya, Intero Real Estate Services Chris Pohlman, McGuire Real Estate Helen Yo Reilly, Maxwell Properties Gary Rost, Prudential California Philip Serrano, Salvador C Tandoc, Broker Kenneth Uyeda, Carlmont Associates Ben C. Wang, New Star Realty & Investment Conrad Yip, Viva Real Estate Group

Affiliates

2nd Annual Bay Area Multi-Cultural Real Estate Summit Michael P. Daily, Step Ahead Carpet & Flooring

September 26, 2008 | 9 a.m. to 6 p.m.

Sue Dwight, Peninsula Regent

Crowne Plaza Hotel, Newark, CA

Kelly Hamilton, Property I.D.

Join us for educational seminars about the emerging diverse client base, keynote speakers and a networking reception.

Register online at: www.bayeast.org

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September 2008

Association Events

7th Annual Member Appreciation BBQ & Softball Game

August 7, 2008

San Mateo Central Park

SAMCAR REALTORS®, Affiliates, friends, families (and even dogs) gathered in the picnic area of San Mateo’s Central Park on Thursday, August 7 for SAMCAR’s 7th Annual Member Appreciation BBQ. Attendees of the 2008 BBQ were entertained by Charlie Bulanti’s (Prudential California) “Sounds of Swing Band” SAMCAR Directors Geoffrey Craighead, Craighead Associates; Sue Vaterlaus, RE/MAX Dolphin; Bobbi Decker, Intero Real Estate.

Jeanie Jackson, Fidelity National Title; 2008 SAMCAR President Sue Walsh, Cashin Company; SAMCAR Event Coordinator Beckie Patane.

SAMCAR Affiliate Director Edgar Tulcanaza, SOL Property Management & Loans; SAMCAR Director Jennifer Tasto, Property Services; SAMCAR Chief Executive Officer Philip B. Tedesco, RCE, CAE. SAMCAR REALTORS®, Affiliates, friends and family took part in a softball game at Fitzgerald Field in San Mateo’s Central Park prior to the BBQ.

Legislative Update

September 2008

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Negative Consequences Redwood City’s Competing Ballot Measures

In November the citizens of Redwood City will determine the fate of two measures that could ultimately alter the process of future development in Redwood City.

Measure W, which claims to protect open space, proposes an amendment

Measure W’s two-thirds supermajority vote requirement raises valid concerns that it is anti-democratic to allow a minority of voters to control future development. By requiring a two-thirds supermajority vote instead of a majority vote, a minority group would eventually control over what a majority of the people want.

The City has attempted to counteract Measure W, by putting forth an alternate ballot measure – Measure V. This measure would also amend the city charter and specifically targets a section of Bayfront

The primary area affected by Measure W would be the Cargill site, historically used for salt-making.

to the Redwood City charter that would require a two-thirds vote of Redwood City electorate to approve any development on lands with certain zoning or land use designations. The primary area affected by this Measure would be the Cargill site, historically used for salt-making.

[Measure W and Measure V] are an attempt to zone by ballot box initiative – a practice this Association has historically opposed.

Pursuant to the “50-50 Vision Plan” for that area, mixed use development is slated for that site.

Although the proponents of Measure W argue it will protect Redwood City parks and open space, upon closer review a drastically different picture is revealed. The measure fails to cover more than half of the public parks within the city and impacts multiple public and private properties that are not classified as open space. Most notably, single family homes near Red Morton Park and along the lagoons in Redwood Shores would be forbidden from making simple improvements to their properties without being subjected to a mandatory two-thirds public vote. Another citywide concern is that the measure hinders the City’s ability to make improvements, such as the construction of the senior center on City owned land, the creation of a ferry terminal, the expansion of wastewater treatment facilities, the creation of new parkland, and the construction of new levees to protect from sea level rise.

land owned by Cargill. The measure proposes a simple majority vote – 50% plus 1 – to approve any development on the land owned

by Cargill.

Both Measures are an attempt to zone by ballot box initiative – a practice this Association has historically opposed. Using this method takes responsible land use planning out of the hands of local government and often results in slowing down or halting much needed development of housing.

Both measures have officially been placed on the November ballot.

Assuming that both receive the required majority to pass, the one that gets the most votes will prevail. It is vital that as REALTORS® we are aware of both of these measures as it can directly impact the value of homes in Redwood City. Please feel free to contact Michon Coleman, Interim Government Affairs Director, if you have any questions regarding either of these measures. She may be reached at (650) 696-8204 or via email at mcoleman@samcar.org.

Peninsula Legislative Committee In this past year, the Peninsula Legislative Committee was bifurcated into North and South Committees. Please note that with the start of the September meeting, the Peninsula Legislative Committee will resume as a combined meeting.

The Committee will meet (unless otherwise noted), the 3rd Wednesday of each month, at 9:30 am, here at the SAMCAR office. We encourage all members to attend and learn about important industry-related and political issues throughout the County.

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September 2008

PRDS Forms UPDATES

New Disclosure Forms Please be advised that new disclosures will be available for the cities of Belmont and Half Moon Bay. The Belmont disclosure references the recently enacted smoking ordinance, and the Half Moon Bay disclosure informs buyers of potential litigation, due to the recent judgment against the City for close to $40 million dollars.

The Belmont disclosure is as follows:

SMOKING IN MULTI-USE RESIDENCES

“Buyer/Lessee is advised that the City of Belmont has enacted an ordinance whereby nonconsensual exposure to secondhand smoke is considered a nuisance; as well, the uninvited presence of secondhand smoke on property is a nuisance and a trespass.

Pursuant to the Belmont City Code Chapter 20.5 (Regulation of Smoking), smoking is prohibited in a number of areas, including but not limited to multi-unit residences that share at least one common floor or ceiling with another such unit.

Buyer/Lessee is advised to examine Belmont City Code Chapter 20.5 in whole and determine its applicability.”

MLSListings, Inc. UPDATES

Reminder!

Strong Authentication Targeted for September Please see the following URL to access an Introductory Strong Authentication video: http://about.mlslistings.com/mlsm.html

Rules Committee

Volunteers Needed Rules Committee Chairman, J.R. Rouse, is looking for volunteers to fill open positions on the Rules Committee for the remainder of the year. This committee is responsible for making rules-related recommendations to the Board of Directors. Rules Committee members must be brokers with 3 years of real estate industry experience. If you are interested in volunteering or would like more information please contact MLSListings, Inc. at (800) 546-5657.

The Half Moon Bay disclosure is as follows:

PENDING LITIGATION ACTIONS

“Buyer is advised to perform independent investigation to determine whether there are any pending litigation actions against the City of Half Moon Bay and other mid-coast communities that may adversely affect a buyer legally or economically.”

“A ‘pending litigation’ is a written notice to an agency which sets forth a demand for legal relief or which asserts a legal right stating the intention to institute an action before a court if such relief or right is not granted by the agency; the service of a complaint against an agency returnable to a court which seeks to enforce or implement legal relief or a legal right; or the agency’s consideration of action to enforce or implement legal relief or a legal right.”

New PRDS Tutorial Available PRDS has created a new PRDS video tutorial for Realtors who want to use PRDS online. The tutorial was recently launched and is available at www.prdsforms.com. The tutorial will teach members how to use PRDS Forms online: how to log in, create a transaction, add, edit, print and e-mail forms.

PRDS forms are an extensive line of paper and online forms for residential purchase and sales transactions. These forms are available online free of charge as a member benefit to all Realtor members of the San Mateo County Association of REALTORS® and the Silicon Valley Association of REALTORS®.

The online version of the forms is an extremely robust and intuitive platform that is far easier to use than other platforms.

Contra Costa AOR MLS & EBRDI Join Reciprocal Access Program Contra Costa AOR MLS is now offering a limited-time access program similar to that available through Bay East AOR. EBRDI has also announced its intention to provide a similar offering. EBRDI is finalizing the details of its program. When the details and forms are made available, they will be posted on MLSListings Pro. For a six-month promotional period (July 2008 through December 2008), Bay East and Contra Costa AOR MLS’s are offering Limited Access MLS Membership to MLSListings subscribers for a one-time access fee of $49 – $50. This membership will allow real estate professionals to access the Paragon MLS system to search for East Bay listings. Please note: This program will not allow listing input. If you would like to enter listings, the current fee of $50/listing applies. No initiation fee will be charged.

For information about this program, please contact Bay East at (925) 730-4079 or Contra Costa AOR at (925) 295-9200.

CAR Updates

September 2008

Housing Stimulus Package Provides a Boon for California REALTORS®

The sweeping housing measure signed into law Wednesday by President Bush is a boon for all California REALTORS® and their clients, promising to provide increased access for first-time homeowners to mortgage financing, particularly in high-priced areas such as California; tax credits for first-time buyers; and much-needed stabilization of the nation’s turbulent financial markets.

“This federal housing package represents a significant move in the right direction for California homeowners,” said C.A.R. President William E. Brown. The measure will not only help thousands of borrowers facing financial trouble stay in their homes, but pave the way for thousands more to achieve the dream of becoming first-time homeowners, and help move otherwise skeptical buyers off the fence.”

The Housing and Economic Recovery Act of 2008, will assist an estimated 400,000 homeowners currently facing foreclosure, many of whom reside in California, by allowing them to refinance their current subprime mortgages with a more affordable Federal Housing Administration (FHA)-backed loan. This particular feature of the bill aims to stem the rising tide of foreclosures that have been driving down home values across the state and creating tougher lending rules that have pushed many potential first-time buyers with good credit off to the sidelines.

The bill also will permanently increase FHA, Fannie Mae, and Freddie Mac loan limits in high-cost areas, something C.A.R. has been pushing for its members for some time. The bill permanently increases the conforming loan limit to $625,500. The Economic Stimulus Act of 2008, signed in February, raised the conforming loan limit in high-cost areas to $729,750 from $417,000. However, this change was temporary and set to expire Dec. 31.

Although a permanent loan limit at $729,750 would have been preferable, the new, permanent loan limit of $625,500 will open the door for many California homeowners hoping to refinance their loans into safe, affordable loan products, allow first-time home buyers to get back into the market, and boost business for the Association’s member REALTORS® up and down the state.

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The new loan limits for Fannie Mae and Freddie Mac are the greater of either $417,000 or 115 percent of an area’s median home price, up to $625,500. The new FHA loan limit will be the greater of $271,050 or 115 percent of an area’s median home price, up to $625,500. Both new loan limits will be effective at the expiration of the economic stimulus limits on December 31, 2008.

Another key provision of the bill is a tax credit for first-time home buyers, who may now receive a tax refund worth up to 10 percent of a home’s purchase price, up to a maximum of $7,500. The refund serves as an interest-free loan and the homeowner is required to repay it in equal installments over 15 years.

The measure will not only help thousands of borrowers facing financial trouble stay in their homes, but pave the way for thousands more to achieve the dream of becoming first-time homeowners, and help move otherwise skeptical buyers off the fence.

C.A.R. President William E. Brown Incentives for lowering the cost of buying a home are critical in a market where the affordability rate, or the percentage of households in California that can afford to buy an entry-level home, although showing some strength in the recent months, remains at 44 percent.

The measure also allows for the Treasury Dept. to create a federal backstop program to ensure the financial well-being of Government Sponsored Enterprises, specifically, Fannie Mae and Freddie Mac, the nation’s two largest mortgage lenders.

“By providing the GSE with a solid regulator, and giving the Treasury the authority to step in and ensure the financial well being of the GSE, this new legislation should restore investor confidence in Fannie and Freddie, allowing them to continue to create programs that make the home-buying process an affordable and viable one for all,” Brown said.

C.A.R.’s July 2008

Sales & Price Report Now Available

http://www.car.org/newsstand/newsreleases/july08salesandpricereport/?view=Standard

SEPTEMBER 2008 Weekly Education, Events & Tour Calendar

AUGUST 29 – SEPTEMBER 5 Su 24 31

Mo 25 01

Tu 26 02

We 27 03

Th 28 04

Fr 29 05

Sa 30 06

Classes & Events September 1 All Day

SaMCaR Closed for labor day SAMCAR will resume normal business hours on Tuesday, September 2.

September 5 8 a.m. – 5 p.m.

Precision ultrasound Health Screenings @ SaMCaR http://www.samcar.org/userfiles/file/Health08_ultrasound090708.html

September 10 10 a.m. – 12 p.m.

Tax Strategies for the Real Estate Professional Preview of a nationally acclaimed tax strategies course. | Location: SAMCAR Instructor: Maine Shafer, Bradford and Co., Inc. | RSVP: 650-696-8200

September 11 8 a.m. – 5 p.m.

GRi 105: legal issues Location: SAMCAR| Cost: $149 Registration: http://www.eDesignations.com or 888-785-4800

September 17 2 p.m.

PRdSforms.com Training Location: SAMCAR| | Instructor: Bob Johnson | Sign-up: 650-696-8200

September 17 8 a.m. – 12 p.m.

1 – 4 p.m.

distressed Properties and Risk Management Distressed Properties 8 a.m. / 4 DRE Credits / cost: $40 Risk Management 1 p.m. / 3 DRE Credits / cost: $30 Location: SAMCAR | Instructor: Cari Pace | RSVP: 650-696-8200

September 18 5 p.m. Social 6:30 p.m. Dinner

annual Charity Spaghetti feed & auction Location: Peninsula Italian American Social Club, 100 N. B Street, San Mateo Cost: $25 tickets; $50 program advertising Information: http://www.samcar.org/index.cfm/special_events.htm

September 23 2 – 5 p.m.

duane Gomer presents “REo’s = Real Estate opportunities” Overview of every aspect of bank-owned properties. Location: SAMCAR Cost: $55 advance; $65 at the door | Registration: 650-696-8200

September 24 1:30 p.m.

duane Gomer’s optional Review & Group Testing To test on the 5 three-hour courses on the day of the course you must pick up home-study materials by Friday, September 19. Location: SAMCAR Cost: $79 members; $89 non-members |Registration: 650-696-8200

September 26 9 a.m. – 6 p.m.

Bay area Multicultural Real Estate Summit Location: Crowne Plaza Hotel in Newark, CA Registration: http://www.bayeast.org

September 26 102 / 10 a.m. – 12 p.m.

101 / 1:30 – 3 p.m.

MlS listings 101 and 102 Seminar Training 101: MLS Essentials; 102: MLS Advanced | Location: SAMCAR Registration: http://www.samcar.org/calendar or 650-696-8200

Marketing Meetings Tuesday, September 2 8:30 a.m.

September Combined Tour Elks Lodge 229 West 20th Avenue San Mateo Presentation:

REALTOR® Panel Sharing Methods of Success in Today’s Market

9 a.m. Half Moon Bay Tour Community Center 535 Kelly Avenue Half Moon Bay

9:30 a.m. Pacifica Tour Community Center 540 Crespi Drive Pacifica

SAMCAR Board of Directors Meetings September 24 8:30 a.m.

SaMCaR Board of directors Meeting Members welcome to attend these monthly meetings. | Location: SAMCAR

Legislative Committee Meetings September 17 9:30 – 11 a.m.

PEninSula legislative Committee Meeting *nEW Meeting* Members welcome to attend these monthly meetings.

Location: SAMCAR, 850 Woodside Way, San Mateo

September 4 10 a.m.

PaCifiCa legislative Committee Meeting Location: Old Republic Title in Pacifica Linda Mar

September 10 10 – 11 a.m.

CoaSTSidE legislative Committee Meeting Location: RE/MAX Dolphin Half Moon Bay, Conference Room

MLS Tour Sheet Deadline Reminder Broker/Property tours Tuesdays 9:30 a.m. – 1:30 p.m.

Deadline to add tours in MLS Mondays, 11 a.m.

Entry deadlines are subject to change for holidays.

Deadline for Monday holidays prior Friday at 11 a.m.

View tour sheet by Monday afternoon http://www.samcar.org/index.cfm/tour_information.htm