{RE}source | June 2009

i. 6 / vol. II

June

2009 Monthly Newsletter of the San Mateo County Association of REALTORSÂŽ

www.samcar.org

In this issue...

SAMCAR

Message from the President page 1 New Members | MAY 2009 page 2 RSVP pages 5 & 6 North Tour page 5 Annual Charity Golf Tournament page 6

Legislative SAMCAR Travels to the Nation’s Capital pages 3 & 4 Legislative Day page 3 Burlingame Storm Drain Measure Passes page 4

NAR Uniform Process for Short Sales Will Help Struggling Homeowners page 2

Message from your 2009 President

monthly newsletter of the

San Mateo County Association of realtors®

Olivia Edwards

2009 SAMCAR President

www.samcar.org tel. (650) 696-8200 fax (650) 342-7509 Board of Directors 2009 President President Elect Region 25 Chair Director Director Director Director Director Director Director Director Director Affiliate Director Director Director

Olivia T. Edwards Jennifer Tasto Marianne Zanone Rush Tim Auran Eric Berggren Robert Brisbane John Clifford Nini De La Fuente-Pecson Bobbi Decker Suzan Getchell-Wallace Phillip Houston Anne Oliva Edgar Tulcanaza Susan Vaterlaus David Zigal

Chief Executive Officer Philip B. Tedesco, RCE, CAE Editorial Team Michon Coleman Director of Government 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 © 2009

L

ast week I traveled to Washington D.C. to the NAR’s mid-year conference. You may be thinking “well that’s nice and all, but what does it mean to me…Joe Realtor?”

During the visit I had an opportunity to visit NAR’s Washington D.C. headquarters for the first time. Standing at the top of 500 New Jersey – NAR’s headquarters’ address – watching the panoramic view of this incredible city, I couldn’t help feeling proud of being a REALTOR® and belonging to this great organization made up of mostly volunteers. NAR has created a building so compelling it has become one of the defining features of Washington D.C. This building that represents you and me is a truly striking glass office tower. You might think we spent a lot of money but the building’s market value doubled in the first three years after construction and today its leased space is generating all the revenue NAR needs to cover its annual carrying costs.

NAR leadership has created a building that makes a statement that resonates far and wide among federal lawmakers on Capitol Hill and that silently declares that we are a powerful organization.

When Congress decides that it might be a good idea to do away with the homeowner mortgage tax deduction NAR can stand up and say it’s not a good idea . . . and lawmakers listen. NAR is currently lobbying to make the $8,000 tax credit for all buyers and not just first time buyers. Did you know that 28% of REALTORS® nationwide have no health insurance? NAR is lobbying to make health care coverage more affordable and more accessible for the small business owner and the self-employed. While NAR supports the move to make building more energy efficient, they opposed the effort to make these changes at point of sale, which would have added increased cost to the homebuyer. NAR has also formed our very own Federal Credit Union.

So for you – the dues paying members of the NAR – know that your interests are being looked after in Washington through the powerful presence of our leadership and our imposing “Green” building on Capitol Hill.

NAR Update

June 2009

Welcome New Members The Following Members Joined in May 2009

Realtors® NAR Midyear Legislative Meetings

Terry Blumberg, ZipRealty, Inc. Chiara Rosati Carthy, Cashin Company

SAMCAR Leadership traveled to Washington D.C. to participate in NAR’s midyear legislative meetings in May. Pictured above (from left) are Director Marianne Zanone Rush, CEO Philip Tedesco, Sue Walsh, SILVAR Past-President Leannah Hunt, SAMCAR President-Elect Jennifer Tasto, Director Anne Oliva, and Legislative Aid to Rep. Anna Eshoo Emma Moburg-Jones

Please read more about the outcome of these meetings on pages 3 and 4 of this issue.

Jennifer Chen, Coldwell Banker Theresa Galvan Cruz, Coldwell Banker Maria T. Franco, Franco Real Estate Group Linda D. Frye, Linda D Frye, Broker Lily Hsu, Bay 1st Realty & Mortgage Inc Dianne Jones, Heritage Realty Jerry Kwan, Cig Realty & Loans

Uniform Process for Short Sales Will Help Struggling Homeowners

H

elp is on the way for many homeowners who are facing foreclosure, thanks to new details under the Making Home Affordable Program announced by the U.S. Treasury and the U.S. Department of Housing and Urban Development.

The Making Home Affordable Program is designed to help homeowners obtain modifications to their loan so they can afford to stay in their home. Where a modification is not possible, new incentives encourage the “quick private sale or voluntary transfer of property, which will save homeowners money and protect their financial future,” according to U.S. Treasury Secretary Timothy Geithner. The National Association of REALTORS® expects that a uniform process for handling short sales and financial incentives will facilitate this process.

“NAR is pleased that the government is stepping in to help prevent foreclosures by

streamlining the short-sale and deeds-in-lieu process,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.

“NAR has been calling for uniform short sales procedures and other initiatives that will help today’s homeowners in challenging economy.”

“We have heard from REALTORS® that the extensive delay in the short sale process caused many buyers to go elsewhere and have left many would-be sellers with no option but foreclosure. We are all pleased that the government has stepped in to help homeowners and those wishing to buy a home,” McMillan said.

For detailed information on the program changes, please visit:

www.treasury.gov

Rephina Louie, RE/MAX Active Realty Mike Tsachres, Olympic Realty & Inv. Co.

Affiliates

Veronica Mora, Mortgage California

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3

Government Affairs

June 2009

SAMCAR Travels to the Nation’s Capitol

I

Move the Housing Market Forward and Safeguard Our Communities Legislation must be enacted that will stabilize housing and mortgage markets. NAR has identified three ways in which to achieve this objective: (1) fortify Fannie Mae and Freddie Mac to ensure capital for mortgage lending in all markets; (2) make the 2008 loan limit formula and caps permanent (particularly important in high cost areas such as ours), to provide fair, affordable financing for all borrowers; and (3) extend the $8000 homebuyer tax credit to all homebuyers to encourage purchases.

What follows is a summary of each issue and the action we requested during our meetings.

Preserve the Mortgage Interest Deduction (MID) The Mortgage Interest Deduction (MID) must be retained. We discussed with Reps. Speier and Eshoo, that any proposals that would reduce or limit the MID would undermine consumer confidence in the housing market at a time when the goal is to stabilize housing prices and sustain homeownership. Simply put, now is not the time to change the MID.

n May, members of SAMCAR leadership traveled to Washington, D.C. to attend NAR’s Midyear Meetings. The most important aspect of this annual trip is the opportunity to visit Capitol Hill and meet with our representatives in Congress – Rep. Jackie Speier and Rep. Anna Eshoo. Each year, NAR establishes a legislative agenda for which our group lobbies during these meetings.

This year, our agenda included legislation designed to stimulate a recovery of the housing market, proposals that promote energy efficiency in residential and commercial buildings, and recommendations that emphasized the need and importance of access to affordable healthcare for those who are self-employed.

Legislative Day

On Wednesday, June 3rd, CAR will host its annual Legislative Day. SAMCAR members will meet with our state representatives to advocate for issues of importance to the real estate industry.

This year’s legislative agenda includes the following:

AB 603

C.A.R OPPOSES

Statewide Just Cause Evictions

C.A.R. opposes AB 603 which will, until January 1, 2013, prohibit anyone who acquires foreclosed rental property from terminating a tenancy unless the new owner has owned the property for a minimum of one year or can demonstrate a “just cause” (for example, non-payment of rent) for the eviction. AB 603 will apply to ANY property that is being leased by a tenant prior to the completion of the foreclosure proceedings, and includes single-family and multi-family homes. C.A.R. opposes AB 603 because it will create a disincentive for ANY buyer to purchase a tenant occupied REO home and will only further delay the recovery of California’s housing market.

SB 407

C.A.R OPPOSES

Point-of-Sale Retrofit: Water Conservation

C.A.R. is opposed to SB 407, a bill that requires ALL residential and commercial properties be retrofitted at point-of-sale with low-flow toilets, shower heads and faucets. While C.A.R. appreciates the goal of conserving water, C.A.R. opposes SB 407 because it will not achieve the objective of significantly reducing water consumption.

Point-of-sale simply takes too long. About 70% of California’s existing housing stock was constructed prior to the implementation of water efficiency standards in 1992. Point-of-sale requirements have such poor market penetration that they will take forever to reach all of these properties. Further, it could destabilize the already weak housing market. Recent amendments to SB 407 also increase liability exposure for REALTORS®.

Government Affairs continued from page 3

June 2009

4

▼

Health Coverage for the Self Employed and Small Businesses Particularly in uncertain economic times such as these, Congress must act on the problems the self-employed and small businesses face purchasing health insurance coverage for themselves, their families and their employees.

We noted a number of recommendations on this issue, including: (1) legislative reform effort must address the unique set of issues that face the self-employed and small businesses in finding affordable health insurance coverage; (2) the self-employed, independent contractor, free-lance and small business work force must be afforded the same health insurance coverage terms, underwriting consideration and tax treatment available to larger firms, and (3) cost containment/affordability must be a part of any proposed plan. Insurance that is cost-prohibitive is no solution to the problems faced by the self-employed and small employers.

Energy Efficiency in Homes and Commercial Buildings Many REALTORS® are concerned about energy efficiency and other ways to help themselves and their clients “go green.” As jurisdictions determine how best to achieve its goals, many are considering mandatory mechanisms, often using the point-of-sale as the trigger. NAR supports energy efficiency legislation for homes and commercial buildings that instead incorporates an incentivebased approach, such as credits and rebates.

Educating consumers on the benefits of energy efficiency is critical as well.

To date, Reps. Waxman (D-CA) and Markey (D-MA) have both introduced legislation which develops Energy Star labels for homes and buildings and provides funds to states that implement a labeling program. The legislation also provides funds to states that incentivize home and building energy retrofits, and preempts the EPA from regulating carbon emissions from smaller buildings.

Stabilize and Provide Liquidity to Commercial Real Estate Markets There is a crisis in the commercial credit markets. Having a sound and functioning commercial and multifamily real estate sector is critical to the country’s economic growth and development.

NAR believes this problem can be resolved by extending the term of Term Asset-backed Securities Loan Facility (TALF) loans used to finance the purchase of Commercial Mortgage Backed Securities (CMBS). In our meetings, we asked that the terms of these loans be extended beyond the current permissible three year limit to accommodate the longer term nature of commercial real estate lending.

For more information about NAR’s

legislative agenda or any other legislative matters, please be sure to contact your Government Affairs Director, Michon Coleman, at:

(650) 696-8204 mcoleman@samcar.org continued from page 3

▼

AB 985

C.A.R OPPOSES

Point-of-Sale: Restrictive Covenants

C.A.R. opposes AB 985, which requires title and escrow officers to review every deed and related documents, including CC&R’s, and remove historic illegal, and unenforceable restrictions from title records whenever a property transfers. While appreciating the intent of the bill, C.A.R. opposes it because it will further slow transactions and increase costs. C.A.R. withheld its opposition when AB 985 was considered by the Assembly while generating a response from the member groups in the Real Estate Leadership Summit, to encourage the author to amend the bill so that changes to title documents would be done outside of the transaction. However, since the bill has not been amended, C.A.R. is now forced to oppose AB 985 in the Senate.

It should be noted that existing law already invalidates any provision in a real property deed that restricts the right of a person to sell, lease, rent, use or occupy the property based on race, color, religion, sex, marital status, national origin, ancestry, familial status, disability, source of income, or sexual orientation.

SB 633

C.A.R SPONSORS

Local Property Maintenance Ordinances

C.A.R. is sponsoring SB 633, which is being amended to pre-empt overreaching and unfair local ordinances meant to force the upkeep of vacant properties either before or during foreclosure. C.A.R. is sponsoring SB 633 to keep local governments from loading foreclosure properties with thousands or tens of thousands of dollars in fines for failing to maintain the property.

Burlingame

Storm Drain Measure

Passes Great news!

Burlingame’s storm drain ballot measure PASSED. The measure, which will provide the funds needed to repair the city’s aging storm drain system, had overwhelming support from the city’s homeowners.

Of the 4,267 votes cast, 2,706 property owners voted to approve the measure. This represented 63.4% of the votes cast. 1,561 property owners, or 36.5%, voted against the measure.

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Association Events & Meetings

June 2009

Community Minded REALTORS® Give Back To Seniors During RSVP

(REALTOR® Service Volunteer Program) Contributed by: Julie Ziemelis SAMCAR held its annual Realtor® Service Volunteer Program (R.S.V.P) the week of May 4th through 8th where 129 volunteers from the Association went to the homes of 126 seniors who needed basic household maintenance tasks performed. The volunteers brought big smiles to the seniors as chores like changing smoke alarm batteries, planting new flowers, sweeping out cobwebs, and cleaning the top of grills were handled for them.

Corrin Trowbridge (Trowbridge Insurance) and SAMCAR Director Suzan Getchell-Wallace (Coldwell Banker Fahey Properties) with one of the many seniors visited by RSVP volunteers.

Alan Canas, a REALTOR® with Cashin Company and a RSVP volunteer, said, “Being involved with RSVP is very rewarding. The appreciation from the people we help is very gratifying. The senior I helped baked goodies for us while we helped brighten her world by cleaning all the windows in the house, planting impatiens in her yard and cleaning her deck so she could sit outside.”

continued on page 6

►

news from North Tour

The

Real Estate Diet A Plan For Success

Contributed by: Julie Ziemelis

At the May 19th North Tour meeting, Anne Oliva, REALTOR® (Marshall Realty) led a presentation on a plan she helped develop with Bobbi Decker (Intero Real Estate) called the Real Estate Diet.

Anne stated that “negative thoughts are going to kill this industry” and if real estate professionals are going to survive this economic downturn they have to focus on a routine to sell. “Real estate is a tough job” she said and she believes that the cream of the crop will rise to the top. She shared her “Diet Plan” with the group saying, “Are you hungry? Then put good food in your body, positive thoughts in your head and feed your soul”. Here are the basics ►

The Intero Real Estate RSVP volunteer team

The Real Estate Diet Three Week Program Week 1: Mind

Get a mind set for a goal. If you don’t know where you are going, you’re never going to get there. Use the power of positive thinking. Clear your mind of negative thoughts. Don’t get sucked into the negative media coverage of the market. There are REALTORS® out there closing deals, you can too!

Week 2: Body

You need energy to get your through the day, so focus on getting into motion and getting your body active. To help clear your mind and get more oxygen to your brain for clear thinking, start walking. The goal is do something every day to help decrease stress and increase physical activity. Focus on eating healthy, as well. Skip the fast food and the easy snacks. If you feel good about yourself, more success will come your way.

Week 3: Soul

You need to put your spirit into all you do. You must have belief in yourself and your abilities to succeed. You must feed your passion and remember why you got into this business. When you remember you are doing what you love to do, smile! People respond to this positive energy that you are in this business because its what you love to do.

Be the REALTOR with soul and remember to give! Give time, energy, money, passion and yourself back to your community. It all comes back around, sometimes ten fold.

It takes 21 days (three weeks!) to change a habit. Good luck!

Association Events & Meetings

June 2009

6

We applaud the efforts of our volunteers who are dedicated to giving back to the community and elevating the quality of life for the residents of our county.

—Olivia Edwards, 2009 SAMCAR President

The Marshall Realty RSVP volunteer team continued from page 5 ▼

Irene Wallace, an 80-year-old resident wrote a thank you note to SAMCAR where she writes in part, “Thanks to the three volunteers who took on a major patio rafter task, as well as window cleaning, changing the battery in my smoke detector and other chores. I appreciate their efforts and time spent helping me. After 60 years here in the same house, some of upkeeping tasks have become more challenging.

Thank you for this wonderful service.”

2009 President, Olivia Edwards, said “We applaud the efforts of our volunteers who are dedicated to giving back to the community and elevating the quality of life for the residents of our county. I am proud of the efforts that the SAMCAR members contributed to the seniors.”

Thank you to all our volunteers for taking the time to help the seniors during R.S.V.P week!

RSVP Volunteers from Cashin Company Brooke Dunbar and Alan Canas

Hole Sponsorships, Program Ads & Golfer Registration

Event Program Advertising (DEADLINE: 30 June 2009 | COST: $99) Please contact Beckie Patane at (650) 696-8220 or beckie@samcar.org including your contact information, digital logo file (.ai or .eps, vector, format please) and your favorite cocktail or appetizer recipe.

Hole Sponsorship Form (DEADLINE: 30 June 2009) http://www.samcar.org/userfiles/file/GOLF09_HoleSponsor.pdf Golfer Registration Form (Early-Bird Price before 11 July 2009) http://www.samcar.org/userfiles/file/GOLF09_GolferReg.pdf

JUNE 2009 Weekly Education, Events & Tour Calendar

MAY 29 – JUNE 5 Su 24 31

Mo 25 01

Tu 26 02

We 27 03

Th 28 04

Fr 29 05

Sa 30 06

Classes & Events

June 8 1 p.m.

June 11 8 a.m. – 5 p.m.

Legal dangers of short sales, REos and foreclosures

Location: SAMCAR | Cost: FREE | Instructor: Dave Hamerslough Registration: (650) 696-8200

GRi 114: Essential Concepts of the C.a.R. Residential Purchase agreement Location: SAMCAR| Cost: $149 Registration: http://www.eDesignations.com or 888-785-4800

June 12 11 a.m. – 1 p.m.

LUNCh & LEaRN: Microsoft PoWERPoiNt Location: SAMCAR | Cost: FREE; available to SAMCAR members only Instructor: Lynn Pesonen | Registration: (650) 696-8200

June 18 & 19

CRs 204: Wealth Building “Creating Wealth through Residential Real Estate Investment”

7:30 a.m. – 5 p.m. (both days)

Location: SAMCAR | Instructor: Jock Barker Cost: $300 early-bird price ends May 18 | Register: (650) 696-8200

June 24 1 – 2:30 p.m.

e-PRo Workshop with instructor saul Klein Location: SAMCAR | Cost: FREE | Registration: (650) 696-8200

June 26 11 a.m. – 12 p.m.

how to Create Massive abundance in your Real Estate Business today Location: SAMCAR | Cost: FREE | Registration: (650) 696-8200 Instructor: Christopher Stafford and Deborah Jenkins

July 9 8 a.m. – 5 p.m.

GRi 100 – 101: agency Relationships, duties and disclosures – Ethics, Professional Conduct and Legal aspects Location: SAMCAR | Cost: $149 Registration: http://www.eDesignations.com or 888-785-4800

July 10 11 a.m. – 1 p.m.

August 7 11 a.m. – 1 p.m.

LUNCh & LEaRN: Microsoft EXCEL Create, edit and print Spreadsheets; Shortcuts to edit, enter data.

Location: SAMCAR| Cost: FREE; available to SAMCAR members only Instructor: Lynn Pesonen | Registration: (650) 696-8200 LUNCh & LEaRN: adobe PhotoshoP Organize, edit, enhance and preserve your photos with Adobe® Photoshop.

Location: SAMCAR| Cost: FREE; available to SAMCAR members only Instructor: Lynn Pesonen | Registration: (650) 696-8200

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

June Combined Tour Elks Lodge 229 West 20th Avenue San Mateo Presentations:

San Mateo Police Chief Susan Manheimer State of the San Mateo Community 2009

and Tom Neel, Coldwell Banker Success Tips on Real Estate

Breakfast Sponsor AMS Bekins

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

SAMCAR Board of Directors Meetings

June 24 8:30 a.m.

saMCaR Board of directors Meeting

Members welcome to attend these monthly meetings. | Location: SAMCAR

Legislative Committee Meetings

June 10 10 a.m.

CoastsidE Legislative Committee Meeting Location: Half Moon Bay Coastside Chamber of Commerce & Visitor’s Bureau - 235 Main Street, Half Moon Bay

June 11 9:30 a.m.

PaCifiCa Legislative Committee Meeting *sPECiaL datE* Location: RE/MAX Dolphin - 450 Dondee Way, Suite 7, Pacifica

June 17 9:30 – 11 a.m.

PENiNsULa Legislative Committee Meeting

Members welcome to attend these monthly meetings. | Location: SAMCAR

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