{RE}source | October 2009

i. 10 / vol. II

October

2009

Monthly Newsletter of the San Mateo County Association of REALTORS速

www.samcar.org

In this issue...

Defeated!

Daly City Resale

SAMCAR

Message from the CEO page 1 Message from the President page 2

Inspection and Permit Proposals Removed from Housing Element

News from Combined Tour page 7 Foundation Pumpkin Auction page 7 RE/Tech 101 fall series page 8

page 3

Affiliate News page 10

Legislative DEFEATED! Daly City proposed resale inspection, permit program removed from Housing Element page 3 SAMCAR Endorsed Candidates November 3 General Election page 3

NAR Call to Action! page 4

Charity Spaghetti Feed & Auction

raises over $12,000 pages 5 & 6

CAR Legislative Update page 4

MLS

MLSListings, Inc. Updates page 9

Message from the CEO

monthly newsletter of the

San Mateo County Association of realtors®

Philip B. Tedesco, RCE, CAE SAMCAR Chief Executive Officer

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

A

s the fourth quarter approaches, we begin to plan for the upcoming year. President-Elect Jennifer Tasto and I recently attended the NAR Leadership Summit in Chicago.

The Leadership Summit provides an opportunity for incoming presidents from throughout the country to network, share ideas, and hear first-hand where the focus of the National Association of REALTORS® will be moving forward.

Vicki Cox Golder, the 2010 NAR President, opened the event. She has adopted the theme “On the Rise” for next year. In her opening comments, Ms. Golder explained how “On the Rise” is more than just a theme.

“It’s an attitude – a positive outlook; a belief that we CAN succeed and strengthen our markets, our industry and our businesses. It is a statement about our markets and our industry…that real estate is moving, accelerating toward a prosperous time. And, it’s the definition of our organization … a reminder that we have 1.2 million members who are ready to rise to meet the challenges we face today and in the year ahead,” she said.

At SAMCAR, we represent close to 3,000 of those 1.2 million members who are ready to rise and meet the challenges. Throughout this year, SAMCAR has offered new and innovative opportunities for you to learn as well as to expand your business. Many of these programs and benefits, like the Lunch & Learns, the new Real Estate Technology Series, Clarus MarketMetrics, and the Professional Exchange & Learning Workshops, to name a few, will continue into next year.

Our goal is to position the organization as your business partner, and provide you with the tools and resources that you need to continue to be successful in the real estate industry. “Making information and tools that our members need to succeed in their businesses more accessible and affordable will help strengthen their businesses,” Ms. Golder went on to say during her address.

“When our members succeed, the entire organization will grow and prosper,” she concluded, and I couldn’t agree more.

Ms. Golder is confident that we have passed the worst days of this cycle, and is very optimistic for the upcoming year. For more information on 2010 NAR President Vicki Cox Golder, or to see her NAR Leadership Summit address in its entirety, visit: www.realtor.org/about_nar/presidents_report/aboutnar_pr_introcoxgolder

Message from your 2009 President

October 2009

Welcome New Members

2

The Following Members Joined in September 2009

Olivia Edwards

2009 SAMCAR President

How’s your production this year?

Realtors®

Leyla Alhosseini, Patriot Properties Oscar Amador, Greenfield Realty Melony Burnett, AVR Realty

A

SAMCAR I’m excited to remind you that the California REALTOR® EXPO 2009 is right in our own backyard this year at the San Jose Convention Center in San Jose from October 6th – 8th. s members of

Do you know where the market headed and what are the emerging opportunities out there for you? Attending the Expo is your best way to find out about the latest new products, the hottest technology, and to network for more business.

You have a tremendous opportunity to prepare for the year ahead by joining C.A.R. Chief Economist Leslie Appleton-Young for the 2010 Housing Market Forecast.

Connie Podesta is an effective communicator who I’ve heard before. She will entertain you while teaching you how to understand and communicate effectively during these challenging times and achieve greater success.

You need to learn about the new WINForms® tools that will help you fill out forms instantly on any computer, Mac, or PC. Do you know that other REALTORS® are networking, promoting, marketing and closing escrows – wirelessly? You need to learn why all wireless devices are not equal, and what to look for before you commit to purchasing.

I know you’re going to say you don’t have the money to spend on this event this year but please reconsider. How about getting a few fellow REALTORs® together and car pool. If you are really on a tight budget you can attend the EXPO only – it’s free!

There are many more exciting ways to increase and improve your business, so don’t miss the REALTOR® EXPO, 2009. See you there!

Neria Bello Canonizado, Figueroa Realty Abby Chan, Real Estate eBroker Inc. Raymond Chou, Bayone Realty Sarah Doster, Coldwell Banker Andrea Hesselein, Alain Pinel Realtors Henry Lee, HKH & Associates Mark Palermo, Signature Realty & Mortgage Elizabeth Plume, Richard L. Plume, Realtor Susana Razo, Cashin Company Barbara Sciorra, ZipRealty, Inc.

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Legislative Update

October 2009

Defeated!!

Daly City

Resale Inspection and Permit

Proposals

Removed from Housing Element

T

he City Council in Daly City met this past Monday to consider approving its draft Housing Element. Within the draft, there were proposals to require a permit to sell one’s home. As a precondition to obtaining a permit, homeowners would have to pay for inspections for illegal construction/dangerous conditions, and remedy any code violations. There was also a proposal to

require energy efficiency audits and retrofits, including new insulation and programmable thermostats, before receiving a permit.

Thank you to every REALTOR® who attended a packed City Council meeting and communicated their opposition to the City Council through phone calls, emails and letters in response to our Call to Action. In conjunction with REALTORS® from the San Francisco Association, our strong opposition was heard loud and clear. At the start of the meeting, where over a hundred members of the community were present, the Council announced that all proposals regarding presale permits would be removed from the draft and from any further consideration.

A special thanks is due to the San Francisco Association of REALTORS® for using its resources to send multiple mail notifications alerting Daly City residents about these proposals and encouraging them to attend the meeting.

This is a major victory for private property rights and homeowners in Daly City and throughout San Mateo County!

The Board of Directors has elected to endorse the following candidates

SAMCAR Endorsed Candidates for the

November 3, 2009 General Election

BELMONT City Council Warren Lieberman Michael McGuinness FOSTER CITY City Council Charles Bronitsky Pam Frisella MILLBRAE City Council Nadia Holober Gina Papan

Deadline to register to vote in this election is

October 19, 2009.

For more information on voter registration go to

www.shapethefuture.org

SAN BRUNO City Council Rico Medina SAN BRUNO Mayor Jim Ruane SOUTH SAN FRANCISCO City Council Mark Addiego Pedro Gonzalez

BURLINGAME City Council Cathy Baylock Ann Keighran Rosalie O’Mahony HALF MOON BAY City Council Allan Alifano Rick Kowalczyk George Muteff Naomi Patridge REDWOOD CITY City Council Jeff Gee Jeff Ira SAN MATEO City Council Brandt Grotte Frederick Hansson David Lim

CAR and NAR Updates

Bills to Expand Government Agency Powers Stopped C.A.R. opposed two bills that relate to the powers of the California Coastal Commission which oversees development of coastal properties.

These are not just bills about the beach - the coastal commission would like to extend its control over most of the population centers of California, and the bills would set dangerous precedents for state government agencies that may affect you in the future.

We WON on AB 226. C.A.R. opposed AB 226 (Ruskin) which

proposes to expand the California Coastal Commission’s enforcement authority by allowing the Commission to impose its own civil penalties rather than pursuing fines and penalties through the courts.

AB 226 would give the Commission the power to be judge, jury and executioner thereby limiting due process.

We WON on AB 291. C.A.R. also opposed AB 291 (Saldaña) which

would allow Commission staff to halt permit application processing for violations that have no relationship between the application and the existing violation on the parcel in question. C.A.R. issued a limited Red Alert on both bills and over 1,000 members responded. AB 291 was voted on this past week in the Senate and failed with over 20 NO votes.

Both AB 226 and AB 291, not having the support necessary to pass, were placed on the Inactive File by their authors and can be voted on next year - stay tuned. This is a huge win for REALTORS® and private property rights!

Transfer Tax Bill Stalled We WON on AB 827. C.A.R. opposed AB 827 (Yamada). AB 827 would permit counties to impose a recording “tax” up to $3 per propertyrelated document to fund archival services. While this amount may seem small, it is only the beginning of what it is anticipated to be a growing trend of taxing property-related services to fund all manner of local government expenditures. C.A.R. is troubled that sponsors of this legislation are attempting to circumvent local voters by calling this proposal a “fee,” rather than what it really is – a tax. After a recent C.A.R. Red Alert, this week AB 827 was placed on the Inactive File by its author. This is another important victory for REALTORS® and their clients.

CAR Fought Back Against Expensive and Ineffective Point-of-Sale Mandates C.A.R. opposed SB 407 (Padilla) when it proposed to burden sellers with hundreds, if not thousands, of dollars prior to the close of escrow by requiring ALL residential and commercial properties be retrofitted at point-of-sale with low-flush toilets, shower heads and faucets. After a Red Alert, C.A.R. removed its opposition when the bill was amended to require all properties to be retrofitted with water saving devices by 2017.

SB 407, now without C.A.R.’s opposition, was passed by the legislature last week and awaits the Governor’s signature.

We also WON on AB 758. AB 758 (Skinner) is a re-introduction of a bill from last year which would have required ALL homes and

October 2009

4

CALL TO ACTION!

Ask Congress to EXTEND and EXPAND the $8000 Homebuyer Tax Credit

R

ecently, NAR issued a Call to Action for all REALTORS® regarding the $8000 federal Homebuyer Tax Credit that is set to expire on December 1, 2009.

NAR asks that you urge Congress to extend the tax credit through 2010 and expand eligibility to all purchasers.

Why Should Congress Expand and Extend?

• NAR home sales data show that the portion of first-time homebuyers in the market during 2009 has been about 50%. Historically, about 35-40% of purchasers are first-time buyers.

• With prices affordable and interest rates relatively low, entry-level purchasers have more housing opportunities than they have had in decades. At the same time, there is an abundance of housing inventory above those entry level houses. For this reason, the credit should be expanded to all purchasers.

• As the December 1 deadline approaches, purchasers will race to the closing table relying on the $8000 tax credit. Every facet of the purchase process is more closely reviewed causing real estate transactions to take much longer to complete today than in the past. Short sales take a particularly long time to close because of the many back approvals that are required.

• Current law requires that the transaction be closed in order for the purchaser to take the credit. It would be wrong to deprive purchasers who had entered into binding contracts well before the expiration date the opportunity to claim the credit. The credit should be extended to 2010 so that these purchasers are assured they will receive this important credit.

• Expanding the tax credit to all purchasers and extending the deadline until December 2010 will further stimulate the economy, and ensure that there will be a vibrant housing market that can sustain its current momentum.

• Prospective buyers who meet the mortgage underwriting guidelines but do not have the upfront cash should be allowed to use the tax credit for the downpayment.

Follow the link below to TAKE ACTION:

takeaction.realtoractioncenter.com/campaign/hbtc?qp_source=dotorg&LID=RONav0021

commercial properties to have an energy audit and mandatory energy efficiency upgrades at point-of-sale; adding thousands of dollars to the cost of purchasing a home. C.A.R. worked cooperatively with the author to amend AB 758 ensuring home energy audits or improvements will not adversely affect real property transactions and offers a program for cost-effective energy efficiency improvements for existing buildings.

With C.A.R.’s support, AB 758 passed the legislature last week and now awaits the Governor’s signature.

We WON on SB 183 (Lowenthal). The bill is a reintroduction of a

bill that originally would have acted as a point of sale requirement for installation of carbon monoxide alarms. While the bill won’t receive its final vote until January 2010, C.A.R. amendments are already in the bill. The bill will have a delayed operative date, will not be a point of sale requirement, and will consolidate existing separate disclosures on smoke detectors and water heater strapping into a more user-friendly revised Transfer Disclosure Statement (TDS).

5

Annual Charity Spaghetti Feed

October 2009

SAMCAR’s Annual Charity

Raised over $12,000 Contributed by Julie Ziemelis

Over two hundred SAMCAR members

SAMCAR members, friends and family enjoyed gourmet pasta and an array of desserts at SAMCAR’s 2009 Annual Charity Spaghetti Feed and Auction.

and their families gathered on September 17th at the Peninsula Italian American Social Club in San Mateo to say, “Mangia!” Guests enjoyed gourmet pasta, and an array of desserts donated by the SAMCAR Board of Directors and the SAMCAR staff at this year’s fundraiser.

Mayor of San Bruno and SAMCAR Broker, Larry Franzella, served as the auctioneer for the live auction, which included items such as an Italian home cooked dinner for 6 prepared by Board Member, Anne Oliva and REALTOR®, Denise Baker. There was a silent auction with sports and entertainment memorabilia and a raffle that also had several valuable prize packages.

Steve Titsworth, Bank of America, served as Master of Ceremonies for the fundraiser and Larry Franzella did double duty as the arm wrestling official.

The highlight of the evening was the arm wrestling tournament. Thank you to the following members for representing their areas. Representing the North were Sasha Martinez, Prudential San Bruno and Dermot Cronin, Marshall Realty. From the South, returning 2008 Champion, Jason Born, Signature Realty and Mortgage, and Ann Palermo, Old Republic Title. Representing the Coast was Michelle Pack, Alain Pinel REALTORS® and Marat Shub, Bank of the West. Special Events

(above) SAMCAR Special Events Committee.

Competitors in the second annual arm wrestling competition (from left to right): Ann Palermo (Old Republic Title) Jason Born (Signature Realy & Mortgage) Sasha Martinez (Prudential California) Dermot Cronin (Marshall Realty) Linda Simi (McGuire Real Estate) Joshua Cantrell (JCP-LGS Disclosures) Michelle Pack (Alain Pinel) Marat Shub (Bank of the West)

See more pictures on Facebook: www.facebook.com/samcar.org SAMCAR Updates • Event Photos • Upcoming Classes • and more!

Annual Charity Spaghetti Feed

2009 SAMCAR President Olivia Edwards and her husband Gary Edwards.

October 2009

6

SAMCAR member Silvia Martinelli (Realty World Martinelli Prop.) and Special Events Committee member Alex Castillo (Prudential California).

2009 Corporate Sponsors

Special thank you to our sponsors who made this event possible →

Chair, Linda Simi, McGuire Real Estate and Joshua Cantrell, LGS-JCP Disclosures represented the Central Area. At the end of the evening, the winners were Jason Born and Sasha Martinez.

The Spaghetti Feed is one of the SAMCAR Foundation’s largest fundraisers of the year. In 2008, the event raised over $16,000 which helped fund the Foundation’s grant program to support non-profits throughout our community. Chair, Suzan Getchell, thanked everyone at the event for their participation and contributions.

(below) The Honorable Larry Franzella, Mayor of San Bruno, served as the arm wrestling competition referee while Jason Born (Signature Realty & Mortgage) and Marat Shub (Bank of the West) contended.

Diamond Elite The Examiner

Gold Carr, McClellan, Ingersoll and Thompson 1-800-Got-Junk?

Property I.D.

Event Sponsors

AMS Bekins & Workspace Innovations Coldwell Banker Fahey Properties, Inc. Coldwell Banker, San Carlos Ed Bright, Ed Bright Insurance State Farm Junk King Law Office of Mark C. Watson Marshall Realty Michael Haigh Team, W.J. Bradley

(below) Michelle Pack (Alain Pinel) sends a message on her phone while competing in the arm wrestling competition against Ann Palermo (Old Republic Title).

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News from Combined Tour

October 2009

SAMCAR Foundation

Pumpkin Auction

Makes its Debut!

Contributed by Julie Ziemelis

Short Sales and REOs The Key is Education and

Patience

Contributed by Julie Ziemelis

Be sure to attend the Combined Tour meeting on October 6th at 8:30 am to get into the Halloween spirit and share in the fun of the Pumpkin Auction!

Proceeds will benefit the SAMCAR Foundation and the San Mateo County Second Harvest Food Bank to help serve our community during the upcoming holiday season.

There will be over two dozen pumpkins to bid on, some containing valuable prizes and creative gifts. Alan Louie, Broker, is donating a “Do-It-Yourself Pumpkin Dinner” including a bottle of Riesling, pumpkin seed wonton appetizer, corn bread with pumpkin butter, butternut squash with brown sugar and marmalade, chicken with a pumpkin seed gravy, meatloaf, garlic mashed potatoes, and pumpkin cake. There will also be Fall arrangements and giant pumpkins!

Thank you in advance to all the companies that have decorated and donated pumpkins for the auction. We appreciate your generosity and creativity in helping show San Mateo County that SAMCAR members care about our community.

Speaking to a standing-room only crowd at the September 1st combined marketing meeting, Maria Neal (Alain Pinel REALTORS® Burlingame) discussed the realities of working with short sales. Ms. Neal shared the following advice: Educate the Bank Negotiators:

Negotiators have over 200 files and are responsible for going to investors to ask for the sale of the property. “You have to be friends with the negotiators,” Maria counseled.

“Don’t call them with an attitude, or get angry. They can simply hang up.”

You Have to Know The Process:

Use the expertise of your title companies to help. There are many escrow officers who are well-versed in short sales.

“Many lenders keep changing their fees, so you have to keep up,” Ms. Neal said. “If you put 6% on the HUD, you may get declined. You have to know what they will accept in advance.”

Educate Your Buyers:

Many buyers get into a short sale with the end goal of getting a good deal. You need to tell them it’s going to be a long process. It could take 3-6 months to get a short sale approved. “It’s not just the buyers who need patience, it’s also the REALTOR®,” Ms. Neal noted.

Don’t Be Scared of the Lenders:

October 6th

at the Combined Tour Meeting

Elks Club Lodge, 20th Ave, San Mateo

Pumpkin Auction details on Facebook: www.facebook.com/samcar.org SAMCAR Updates • Event Photos • Upcoming Classes • and more!

Negotiate with the lenders and use your professionalism to control the transaction. “Many of these lenders were in a completely different profession a few months ago, so don’t let them intimidate you,” she concluded.

Following Ms. Neal, John Sieling, RE/MAX Today San Carlos, spoke about working with foreclosures. Mr. Sieling mentioned www.REOTrans.com for foreclosure listing updates before homes go on the market. He also mentioned www.altisource.com to sign up with an asset management company to be on their referral list. He reminded everyone that a referral fee will be charged. “If you do end up working with them, you will get more listings – if you do good work,” Mr. Sieling said.

Mr. Sieling concluded with, “Banks are trickling out inventory, but look for more REOs to hit the market in October. Approximately 18,000 more foreclosures are expected to come onto the market in California.”

Education

October 2009

SAMCAR Offers Fall

Real Estate Technology Training Classes

Contributed by Julie Ziemelis

In an effort to assist our members in learning about tools to help them succeed in their businesses, SAMCAR has developed the RE/TECH 101 Fall Series. Members will learn about social media, how to use their mobile phones for real estate, how to use Facebook, how to use housing sales trend data in their listing presentations, and how to create videos to market real estate listings and themselves. All the presenters will be on hand for Q & A from the audience, and most of these presentations are free! Classes will be held at SAMCAR. To learn more about each class, contact Julie Ziemelis at SAMCAR, juliez@samcar.org or (650) 696-8214. Space is limited, so registration is a must. Call (650) 696-8200 to sign up today!

RE/Tech 101 fall series @ SAMCAR

Technology training classes offered at least twice a month on Thursdays at SAMCAR Registration: 10:30 a.m.

Seminars: 11:00 a.m. to 12:30 p.m.

Cost: FREE to SAMCAR members; $20 for non-members October 8

“Mobile Myth Busters” and How to Get the Most Out of Your Mobile Phone Eric Santini, Smarter Agent October 22

Facebook 101: How to Get On and What to Do Once You’re there

Brendan Aiello, REALTOR® and Social Media Consultant, and Julie Ziemelis, SAMCAR Public Affairs Director.

November 5

Tools for Effective Listing Presentations and Social Media Scott Sambucci, Altos Research November 19

How to Use Video to Market Yourself and Your Listings Mike Mueller, R We Connected?

(Cost for this session is $20.)

“Mobile Myth Busters” and How

to Get the Most Out of Your Mobile Phone

Thursday, October 8 11 a.m. to 12:30 p.m.

Located at SAMCAR Instructor

Eric Santini, Smarter Agent Topics covered - Accessing the entire MLS using your cell phone - Tips for making your phone work for your business - Applications and downloads to enhance your phone’s capabilities - Advice on using your phone effectively in real estate This presentation is FREE for SAMCAR members and $20 for non-members

(650) 696-8200 to sign up

Please call Space is limited, registration requires.

Contact JulieZ@samcar.org for more info This presentation is part of the RE/Tech 101 fall series technology training classes offered twice a month on Thursdays from 11 a.m. to 12:30 p.m. at SAMCAR

8

9

October 2009

Metrolist, BAREIS, SFAR and East Bay Reciprocal and

Data Sharing Progress

The East Bay security solution should be operational by November 2009 after which reciprocal access should begin, followed by the addition of that data to the California edition application.

With Metrolist, BAREIS, and SFAR, single family homes, condo/townhouse, and residential land classes are aggregated. Data mapping of the residential income class is in progress, and will be followed by mobile homes and residential lease to complete the residential listings. Also mapped are the commercial land class and the commercial multi-family class is in progress. This will be followed by the commercial/industrial, business opportunity, and commercial lease classes to complete the commercial listings.

MLSListings Inc. Updates

Compliance Rules Tools How to Handle a

Lender Approval (Short Sale) Listing

To handle a lender approval or short sale listing, you must identify the listing as a short sale by choosing “Short Sale/Lender Appr Req’d” under “Additional Listing Info.”

A listing broker who chooses to accept a reduced commission still is obligated to pay the cooperating broker the compensation published in the MLS, unless the listing broker also has included all of the following information in the MLS listing:

• The fact that the sale and gross commission are subject to lender approval • The method by which the compensation offered through the MLS will be reduced if the lender reduces the gross commission

As an example, a modifier for commissions for short sales may be placed in the “Agent or Private Remarks” section of the MLS (e.g., any commission reduction to be split x/x).

How the reduction is allocated in a shore sale (e.g., 50/50) is at the listing broker’s sole discretion, as long as the cooperating broker is given notice of such allocation.

MLS’s in the Bay Area and Central Valley regions highlighted by counties served. (sources: mlslistings.com | www.bareis.com | www.metrolistmls.com | www.sfrealtors.com)

Pro.mlslistings.com An upgrade is tentatively scheduled for mid-October, and will include the following...

Bear in the mind that any mention of commissions is forbidden in public remarks and must be confined to private/agent/confidential remarks.

As soon as a seller has accepted an offer, you must report a short sale as pending. Do not wait for the lender’s approval of the offer.

• Changing Beds & Baths fields to be entered as #’s rather than a drop down menu • Add Year Built Source • Parcels • Modifying an existing Status option for a temporary solution to the Short Sale status issues • Automated Email reengineering

• Teams Solution – Phase 1 (will require fictitious DRE #’s to be replaced by correct DRE #’s)

Affiliate News

October 2009

10

Are You Really Prepared for A New School Year?

By Morgan Stanley Smith Barney LLC.

Courtesy of Jack Erickson Financial Advisor | 2nd Vice President – Wealth Management Morgan Stanley Smith Barney 1001 Page Mill, Palo Alto, CA | (650) 496-3964 www.fa.smithbarney.com/jack_erickson

You’ve shopped for new clothes, bought their school supplies,

enrolled them in after-school activities and arranged the carpool.

Congratulations, you’re well on your way to starting the new school year on the right track. But what about next year and the years following? If your back-to-school checklist doesn’t include a plan for future education needs, you might need to make some additional preparations.

It may seem like college is years away, but waiting to save for those expenses—even for one year—can make a great difference. Children grow quickly, and the cost of a college education is growing at an even faster rate. Today, many of the elite institutions cost upward of $30,000 annually to attend—and those costs are projected to double in 18 years.

The sooner you start thinking about future college costs, the more time you’ll have to develop and implement a solid education plan.

Creating an education plan will help you determine how much you’ll need to save for your family’s future education needs. When it’s time to implement your plan, there are several options available, including 529 College Savings Plans. The plans are one of the best ways to save for higher education, since they provide tax-deferred asset accumulation, professional management, flexibility, as well as several other benefits not available in other education saving options. Most 529

5.9%

Average increase in public university tuition from 2006–2007 school year to the 2007–2008 school year

$148,004

Estimated cost of four-year public university in 2026

5.9%

Average increase in private university tuition from 2006–2007 school year to the 2007–2008 school year

Over $350,000

Estimated cost of four-year private university in 2026

Source: “Trends in College Pricing,” The College Board, 2007.

plans also offer systematic investment options, allowing you to make regular, automatic contributions and take advantage of compounding and tax-deferred growth.

As you prepare for a new school year, make an appointment to speak to your Financial Advisor about developing a customized education plan that may help you meet your college-funding goals. Even if you already have a plan, it is still a good time to meet with your Advisor for an annual education review to make sure you are still on the right track.

Whether your child is preparing for kindergarten or studying for the SATs, an education plan should always be a part of your back-to-school checklist.

Jack Erickson is a Financial Advisor located in Palo Alto and may be reached at (650) 496-3964 or www.fa.smithbarney.com/jack_erickson Please consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. The offering statement contains this and other important information. To obtain an offering statement, please call your Financial Advisor. Read the offering statement carefully before investing.

Investments are subject to market risk and may fluctuate in value.

Before investing, investors should consider whether tax or other benefits are only available for investments in the investor’s home state 529 college savings plan.

Morgan Stanley Smith Barney LLC and its affiliates do not provide tax or legal advice. To the extent that this material or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.

© 2009 Morgan Stanley Smith Barney LLC. Member SIPC.

oCtoBeR 2009 Weekly Education, Events & Tour Calendar

OCTOBER 2 – 9 Su 27 04

Mo 28 05

Tu 29 06

We 30 07

Th 01 08

Fr 02 09

Sa 03 10

Classes & Events

October 8 8 a.m. – 5 p.m.

GRi 106: Money Making strategies for success Location: SAMCAR | Cost: $149 Registration: http://www.eDesignations.com or 888-785-4800

October 8

“Mobile Myth Busters”

11 a.m. – 12:30 p.m.

Session #2 of the

RE/TECH 101 fall series

October 14 11 a.m. – 12 p.m.

and how to Get the Most out of Your Mobile Phone

Eric Santini (Smarter Agent) will discuss: Getting access to the entire MLS using your cell phone; Tips for making your phone work for your business; Applications and downloads to enhance your phone’s capabilities; Advice on using your phone effectively in real estate. Register: (650) 696-8200 Location: SAMCAR | Cost: Free for members; $20 for non-members MLsListings: Realist

Basic skill requirements for the Realist application: Application Navigation, Inputting Search Queries, Map Search, Reporting & Results Options, Foreclosure Reports, Map Labeling, Saving Searches, & Data Exporting.

Location: SAMCAR | Cost: FREE | Registration: (650) 696-8200 October 14 & 15 8:30 a.m. – 4 p.m. (both days)

accredited Buyer Representative (aBR) NAR Designation Course with 12 hours of CE Credit Instructor: Debbie Rodgers from Coaching to Excellence Location: SAMCAR | Cost: $299 | Register: (650) 696-8200

October 16 9 a.m. – 4 p.m.

e-Buyer This course is an approved elective for the Accredited Buyer Representative (ABR) designation Instructor: Debbie Rodgers Location: SAMCAR | Cost: $299 | Register: (650) 696-8200

October 16 11 a.m. – 1 p.m.

LunCh & LeaRn: Microsoft outLook Appointments, meetings, reminders, to-do list, notes, address book.

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

November 3 4 – 7 p.m.

ReaLtoRs appreciate affiliates PotLuCk

Marketing Meetings Tuesday, October 6 8:30 a.m.

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

State Assemblyman Jerry Hill Event:

SAMCAR Foundation Pumpkin Auction

Breakfast: Bank of America 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

We ask that all our REALTOR® members take some time out to honor our Affiliates and bring a potluck dish to this event. If you aren’t able to make or purchase anything, a raffle prize would work too!

Location: Foster City Recreation Center, Lagoon Room.

RSVP: Beckie Patane, (650) 696-8220

SAMCAR Board of Directors Meetings

October 28 8:30 a.m.

saMCaR Board of directors Meeting

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

Legislative Committee Meetings

October 14 10 a.m.

October 21 9:30 – 11 a.m.

Coastside Legislative Committee Meeting

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

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 www.samcar.org/index.cfm/tour_information.htm