SAMCAR {RE}source | November 2008

i. 8 / vol. I

November

2008

Monthly Newsletter of the San Mateo County Association of REALTORS速

www.samcar.org

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RE ake V an oi A you d ce LT r Vo O te He R on a 速 r

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In this issue

SAMCAR

Message from the CEO page 1 Message from the President page 2 Welcome New Members from October 2008 page 2

Legislative November 4 is Election Day: Make your REALTOR速 Voice Heard and Vote! page 3

CAR

Executive Update pages 5 & 6

NAR t: a e

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o e, nd m r e . c pla lts a t u g u llin resu h e f o p n t ur ctio p e o y le a d e h n Fi ack . s tr w w w

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Why NAR Supports Government Intervention page 3 Code of Ethics Training Deadeline page 4

MLS

MLSListings, Inc. Updates page 4

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 Chief Executive Officer

Message from the CEO One of SAMCAR’s ongoing goals is to increase communication to the members – increased communication, but more importantly, more comprehensive and relevant information to you for your business. A summary of actions taken at the CAR Business Meetings has been prepared by the SAMCAR Directors and is made available to you in this month’s issue (see pages 5 and 6). This important information will be made available from now on following each of the State meetings. Additionally, we will be exploring new and exciting ways of providing this information to you.

On that note, I am extremely pleased to announce that SAMCAR has recently hired Julie Ziemelis to assist in the development and delivery of SAMCAR’s increased communications. Julie will begin in mid-November, bringing close to two decades of experience with REALTOR® associations.

Julie is recognized throughout Northern California for her innovative approach and solid track record of building programs that strengthen the REALTORS®’ position within

their community and I am thrilled to welcome her aboard.

I also want to congratulate Michon Coleman on her promotion to Government Affairs Director for SAMCAR. Michon has been with SAMCAR since 2005 in the Government Affairs Department as the Deputy Director, and most recently as the Director of Public Affairs.

Through a shared services agreement, she also serves as the Government Affairs Director for the Santa Cruz Association, which allows us to take a broader, regional approach to legislative advocacy. Michon is well-versed in the legislative arena and will continue to ensure that you are represented at the local, State and Federal levels.

As I mentioned earlier, this is the time of year that SAMCAR begins building committees for 2009. I encourage you to become more involved with SAMCAR. Please let us know where you might share your expertise by volunteering for a committee using the link below. Remember, it’s your Association!

Become a leader in your Association!

Volunteer for a Committee

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

New SAMCAR Committees will be forming for 2009. Members are urged to take a part in the planning of association activities, local legislative issues, technology programs, member services and Professional Standards.

Committee Application form (PDF) available online at: http://www.samcar.org/userfiles/file/Committees09_application.pdf

Association News

November 2008

Welcome New Members

The Following Members Joined in October 2008

Sue Walsh

2008 President

Realtors

Message from the President

Trick or Treat...

That has been the message from the market this year, and we have all experienced both.

opportunity” environment, with REO meaning Road to Economic Opportunity!

Perhaps more important is the question, “What does the future market hold?” The CAR meetings in mid-October had an additional focus this Fall on the economic crisis, both nationally and internationally. Overflow crowds heard from CAR’s economist, Leslie Appleton-Young, followed by a distinguished panel of economists. Consensus was that we would see a gradual improvement in the market starting in the second quarter of 2009.

The bottom line forecast from all is that the recession will last through early 2009, with a moderate recovery thereafter, economic expansion by 2010-2011, and upturn signals besides the TED spread, including an absorption of foreclosure/REO properties!

While no one saw any great upswings, there is a commonly held belief that some of the governmental solutions would be in place and effectively produce a stable environment.

The watch point, all said, was the spread in the treasury rates returning to less than a 100 point spread. They felt that this is a “fear versus

There appears to be good news on the horizon.

The Governor’s office and DRE are working on a foreclosure prevention program with local Associations. More information about when this will be available in our area is forthcoming.

Barbara Biscocho, Exit Realty, WEM & Assoc.

Ernie Chan, Exit Realty, WEM & Associates Jen C. Jacinto, Diamond Realty & Mortgage Sal Kumar, Intero Real Estate Services Jason Leung, Alain Pinel Realtors Hong Lin, ZipRealty, Inc. Linda Merino, McGuire Real Estate Jennie Peterson, Coldwell Banker Dennis Soto, Diamond Realty & Mortgage Shanhong Wan, Century 21 Realty Alliance

As always what goes up, must come down and visa versa! We are fortunate that we live on the peninsula, where the impact has been a little less than anywhere else in the state!

Happy Selling!!

Time to “fall back”...

Affiliates

Remember to set your clocks back 1 hour at 2 a.m. on Sunday, November 2

Suzan Alakas, Wells Fargo Pvt. Mtg. Banking

Returning to Pacific Standard Time (PST).

Fitnete Kraja, Wells Fargo Pvt. Mtg. Banking

Bill Brady, Stage for Success Victoria Hunter, Stage for Success

Lavette Ray, San Francisco Chronicle Coral Soutar, Stage for Success

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Government Affairs Update

November 2008

November 4 : Election Day th

Make Your REALTOR® Voice Heard & VOTE!!

On November 4th you will have the opportunity to participate in an historic Presidential election.

Please remember to cast your vote for your local, state and federal legislators. Also, be sure to make your voice heard on all ballot measures in your city, as well as the statewide measures.

This election cycle, SAMCAR endorsed candidates for City Council in two cities: Daly City and Pacifica. In Daly City, David Canepa and Judith Christensen received SAMCAR’s endorsement. In Pacifica, SAMCAR endorsed Pete DeJarnatt, Cal Hinton and Mary Ann Nihart.

The Association has taken a strong OPPOSE position on Measure W, in Redwood City.

Measure W, if passed, will require a citywide vote and approval by a 2/3rds supermajority to develop certain areas within the City.

The most devastating impact of this measure

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will be felt by approximately 500 private homeowners, who will need to require this citywide approval to make simple renovations and room additions.

SAMCAR made a significant financial contribution from our Local IMPAC account to help fund “Citizens Against Costly Initiatives” the campaign in opposition to Measure W. IMPAC is the Issues Mobilization Political Action Committee, made possible by your REALTOR® Action Fund contributions.

CAR’s State IMPAC Trustees elected to join our efforts as well, with a significant

commitment of $25,000. This issue resonated with REALTORS® across the state, resulting in contributions from the following local AOR’s: Silicon Valley AOR; Santa Clara County AOR; Sacramento AOR; Greater Inland AOR; South Bay AOR and the San Diego AOR. All contributions combined totaled approximately $50,000, allowing the REALTOR® voice to be heard clearly and effectively.

Opposing bad policy such as Measure W and electing qualified candidates requires your investment. Please consider making your REALTOR® Action Fund contribution when possible. For more information, please contact your Government Affairs staff at (650) 696-8200.

2008 REALTOR® Voter Guide

For information about the General Election, including how to locate your polling station, please refer to the 2008 SAMCAR Voter Guide, available online. http://www.samcar.org/userfiles/file/VOTE08_SAMCAR.pdf

NAR Update

November 2008

Why NAR Supports Government Intervention The National Association of REALTORS® urged members earlier this month to call on national lawmakers to pass the financial rescue bill.

NAR President Dick Gaylord also asked members to educate themselves and their customers on how the rescue bill can help the housing market and the economy, in general.

“This is a critical time for our nation, and REALTORS® everywhere need to call on Congress to enact a recovery plan that will end the economic crisis we are facing,” NAR President Dick Gaylord said.

Despite what’s been reported in some news outlets, the laws and policies that Congress is considering will directly benefit Main Street,

by making financing more available and helping to stabilize home sales and prices, Gaylord said.

Without “swift and substantial intervention,” real estate practitioners and consumers will be faced with a market where:

“Like it or not, the housing market can’t rebound until we resolve the problems in the financial markets,” he said.

• Getting a mortgage, small business, or short-term loan becomes extremely difficult, even for good credit consumers and businesses.

• Consumer and business bankruptcies rise significantly, as refinancing options are shut down.

• Lines of credit are reduced and interest rates on personal and business credit cards rise, adding to the burden on families.

• Consumer and business spending declines, further depressing the economy.

• Unemployment increases significantly.

• Budget deficits increases noticeably due to declining revenue collection at all levels of government.

Fate of Economy Depends on Bill

Gaylord has received messages from some members who want to know why NAR is supporting unprecedented government investment in financial institutions and the housing market.

In response, he said that the fate of the economy depends on it. “Many buyers can no longer find financing they need to buy a home, contracts are being pulled off the table, and sellers are cancelling their listings,” he said.

MLSListings, Inc. Update

November 2008

MLSListings Signs Agreement for

are additional fee-based services that brokers and/or agents can optionally purchase.

Listing Syndication Option This week, MLSListings and Point 2 Technologies Inc. announced an agreement to provide automated listing syndication services to MLSListings’ nearly 19,000 subscribers. The partnership between MLSListings and Point 2 will enable brokers to distribute their listings to a network of over 35 real estate website

destinations, such as: Google, Craigslist, Point2 Homes, Cyberhomes, AOL, Yahoo!, Trulia and Zillow.

This is an “opt-in” service that is being provided

by MLSListings. Syndication of listing content is free for participants in the system. There

SF, BAREIS, MetroList & MLSListings Confirm December 15th Target Date The original four MLS’s involved in the largest data-share initiative in Northern California, issued a press release this week committing to a December 15, 2008 target date to complete their free reciprocal access program. Real estate agents and brokers who belong to any one of the four MLS’s will be able to sign-on to their primary MLS and through the secure single sign-on process go directly to any

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of the participating MLS’s. When the data-share initiative is launched, it will initially serve 54,700 brokers and agents from 19 Northern California counties and cover a market area of more than 29,000 square miles with a population of 8.7 million. With the addition of three East Bay MLS’s in 2009, the data-share will grow to 70,000 brokers and agents.

The service is scheduled to go live during the fourth quarter of 2008.

If the broker/agent is interested in implementing a listing syndication solution, have them send an email to syndication@mlslistings.com.

More information about this program will be posted on the web site shortly.

Strong Authentication

Rollout Began 10/16/08

On October 16th, the new Strong Authentication enhanced security program was rolled out to more than 3000 subscribers. The call center received only 20 calls in the first 24 hours of the program from subscribers who needed assistance.

The gradual rollout will continue on a schedule that targets specific offices each week.

The Outreach department supports the rollout with communications to office managers and individual subscribers. Additional information is available on the front page of pro.mlslistings.com.

In the meantime . . .

Cost of Plan Could Be Lower

All East Bay MLS’s Active in Reciprocal Access Program

Additionally, the cost of such a plan is likely to be below the figures that have been widely reported, Gaylord said.

MLSListings subscribers can continue to take advantage of the interim Reciprocal Access Program announced in July through any of the 3 East Bay MLS’s: Bay East, Contra Costa AOR or EBRDI. There are some differences in fees and forms.

As NAR Chief Economist Lawrence Yun has explained, there is a very good chance that taxpayers will reap a positive return on this investment over the long term.

All information is available at: https://pro.mlslistings.com/info/east_bay_Access_program_0708.html You must log in to MLSListings Pro, first.

“Today, I ask all of you to help us resolve this crisis,” Gaylord said.

REMINDER! Code of Ethics Training Deadline is

December 31, 2008

Overview: Through December 2008, all three MLS’s are offering Limited Access MLS Membership to MLSListings subscribers for a one-time access fee that varies between $49 and $55.

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 respective MLS’s listing entry fee applies. No initiation/application fee will be charged.

For questions, please contact Bay East at (925) 730-4079, Contra Costa AOR at (925) 295-9200, or EBRDI at (925) 906-5200.

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CAR Updates

November 2008

Executive Summary of CAR Directors The C.A.R. Board of Directors and more than 35 Committees that research and formulate policy on all areas affecting the business, professional practices and public policy involvement of California REALTORS® meet three times a year throughout the state.

The Directors met two weeks ago, in Long Beach. SAMCAR Directors have submitted the following reports to keep you apprised of the issues and action items discussed. Please note there are numerous Committees, but not all have items for reporting.

Common Interest Development

Members should be advised that through CAR, there is a Q&A regarding CIDs, as well as an HOA Guide for REALTORS®. These are available on the CAR web site: www.car.org.

establish a written policy regarding equal opportunity laws related to renting.

Pursuant to the Housing and Economic Recovery Act of 2008, the new, increased FHA and GSE loan limits will go into effect on January 1, 2009 in high-cost areas such as San Mateo County.

FIRPTA: Sellers will now have the option of providing FIRPTA directly to closing entity or escrow office.

NAR: Predatory lending and discrimination in renting and selling are issues of importance to the real estate industry, now more than ever.

Federal Issues

Hot issues to watch in 2009: (1) an owner’s right to rent individual condominium units; and (2) hardships re: use restrictions.

CAR will support the reforming of the rules for owner occupancy ratios of Common Interest Developments under the current FHA, GSE, CalVet, and VA programs.

Department of Real Estate

Legislative

Currently, there are 537,000 licensed agents in California. One in every 57 people has a license. That means there are 2 agents for every licensed attorney in the state! Enforcement actions are increasing as e-licensing has helped to free up DRE employees who can focus on other work.

CAR Board of Directors voted to approve supporting Proposition 12, which will provide $900 million in general obligation funds to provide funding for California VA home loans. The bond will provide for 3600 loans.

The DRE has created a loan modification program that connects lenders with distressed homeowners. Through the program, many homeowners are able to have their loans renegotiated on the spot. The DRE has also created an REO toolkit, available on the Department’s website: www.dre.gov.

There were two items discussed, but no action yet taken: • Adding a tutorial for CAR Manufactured Selling Specialists • Developing a Manufactured Selling Specialist designation

Equal Opportunity

HUD still sends out “testers” into the market, to determine if discrimination in both sales and rentals, still occurs. Anyone involved in property management is encouraged to

Manufactured Housing

MLS & Business Technology

Combination lockboxes, instead of electronic key safes, are being placed on many listings, especially REOs. Some MLS committees have rules, so be sure to review the applicable rules, as some require both.

CAR Updates The CALMLS should have a vendor within the next 60 days, with the first conversion to start possibly in February of 2009. The conversion will take 24 months to complete.

Some areas will have a hybrid MLS. The Department of Justice settlement is in the public comment phase, which will be published shortly. The new rules will be available in January.

Political Affairs

Grassroots involvement has increased. The Political Activities Fund has allocated substantial monetary resources towards member mobilization and involvement.

NAR has set a goal of raising $10,000,000 for RPAC (REALTOR® Political Action Committee). To date, $8,000,000 has been raised. CAR has contributed over $2,000,000 to RPAC! The money collected is used to support candidates at the federal level. Of the 67 candidates supported, 65 won. NAR participated in 10 independent expenditure campaigns, and 8 of those candidates assisted by these campaigns, won. All 52 congressional candidates supported, also won.

Professional Standards

CAR will adopt a procedure, to be drafted by staff, to allow local associations to appoint an Ethics Advocate Subcommittee, whose members would assist parties to a disciplinary complaint through the process, by helping with paperwork and representing the party at hearing, at the option of the party. This is subject to final approval from NAR.

C.A.R.’s Open Enrollment is Starting Now!

Coverage begins January 1 Open Enrollment ends November 30 RealCare is the only endorsed healthcare broker or C.A.R. and has been since 1996.

We can be reached at

(800) 939-8088 Ext 202 Visit us online at:

www.realcare.biz/oe

November 2008

Real Estate Finance

CAR, in conjunction with NAR, will support reform of seller-funded down payment assistance programs that provide benefits to consumers, including housing counseling, and ensures the safety and soundness of FHA. CAR will support removing the GSE’s cap on the number of loans for non-owner occupied borrowers of 1-4 units.

Risk Management

A list of Best Practices discussed in the Committee will be published shortly.

Taxation

Tax policies and laws pose significant impacts upon real estate. Decisions regarding tax breaks or costs can be a vital consideration when deciding to purchase an investment property or whether one can afford their principal residence.

As such, a number of issues were discussed in committee, but no action has yet been taken.

These issues included: mortgage interest deduction; capital gains exclusions; deduction of real estate taxes; estate tax; death basis step-up; reverse mortgages; tenant improvement depreciation; small business expenses; business expenses deductions; health insurance deduction; and like-kind exchanges.

Avoid the rush by calling RealCare now! Remember, your annual medical plan deductible starts January 1.

So can your coverage under the C.A.R. medical program - if you enroll before November 30.

At RealCare you aren’t limited to requesting an online quote. We provide friendly, personal assistance during your selection process, and all year round.

You can get an online quote at www.realcare.biz/oe or you can call one of our agents for help.

Eligible C.A.R. members have 5 plans from Blue Cross of California and 8 plans from Kaiser to choose from.

Remember, Open Enrollment closes November 30.

Call now to avoid the last minute rush.

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NOVEMBER 2008 Weekly Education, Events & Tour Calendar

OCTOBER 31 – NOVEMBER 7 Su 26 02

Mo 27 03

Tu 28 04

We 29 05

Th 30 06

Fr 31 07

Sa 01 08

Classes & Events November 4 7 a.m. – 8 p.m.

Presidential General Election: Make your REALTOR® Voice Heard and Vote!

REALTOR® Voter Guide: http://www.samcar.org/userfiles/file/VOTE08_SAMCAR.pdf San Mateo County Election Site: http://www.shapethefuture.org

November 10 1:30 – 4:30 p.m.

REVEi Ethics Video @ saMCaR | Cost: $20 | Register: 650-696-8200 Satisfies the mandatory NAR Quadrennial Ethics requirement + DRE Credit

November 11 ALL DAY

saMCaR Office Closed for Veterans’ day / NO tOuR The SAMCAR Office will be closed all day in observance of the Veterans’ Day Holiday. There will not be a Tuesday Tour.

November 17 101 / 10 – 11:30 a.m.

102 / 1:30 – 3:30 p.m.

Mlslistings 101(essential) and 102(advanced) seminar training Location: SAMCAR | Registration: 650-696-8200

November 17 1:30 – 4:30 p.m.

REVEi Ethics Video @ saMCaR | Cost: $20 | Register: 650-696-8200 Satisfies the mandatory NAR Quadrennial Ethics requirement + DRE Credit

November 20 8 a.m. – 5 p.m.

GRi 107: technology applications in Real Estate Location: SAMCAR| Cost: $149 Registration: http://www.eDesignations.com or 888-785-4800

Marketing Meetings Tuesday, November 4 8:30 a.m.

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

November 24 1:30 – 4:30 p.m.

REVEi Ethics Video @ saMCaR | Cost: $20 | Register: 650-696-8200 Satisfies the mandatory NAR Quadrennial Ethics requirement + DRE Credit

November 27 & 28 ALL DAY, both days

saMCaR Office Closed for thanksgiving The SAMCAR Office will be closed all day in observance Thanksgiving.

SAMCAR will resume normal business hours on Monday, December 1.

December 11 8 a.m. – 5 p.m.

GRi 108: GRi Risk Management Location: SAMCAR| Cost: $149 Registration: http://www.eDesignations.com or 888-785-4800

Anne LAnphAr, esq., Vice President & General Counsel, First American Professional Real Estate Services, Inc.,/JCP-LGS Disclosures RESPA: The REAL Property Hazard of the 21st Century

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 November 26 8:30 a.m.

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

Legislative Committee Meetings November 19 9:30 – 11 a.m.

PENiNsula legislative Committee Meeting Members welcome to attend these monthly meetings.

Location: SAMCAR, 850 Woodside Way, San Mateo

November 6 10 a.m.

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

November 12 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