Arcadia REALTOR Magazine - February 2014

Arcadia

REALTOR速

The Official Publication of the Arcadia Association of REALTORS速

PROUDLY SERVING THE REALTORS速 OF ARCADIA, BRADBURY, DUARTE, MONROVIA AND SIERRA MADRE

2014 Annual Installation of Officers & Directors See page 8

FEBRUARY 2014

WWW.THEAAR.COM

VOL. 18, NO. 2

Arcadia

REALTOR®

REGULAR FEATURES 4 Events Calendar

Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006 626.446.2115 626.446.4072 FAX www.TheAAR.com

2014 ASSOCIATION OFFICERS

Mike Vachani {President} Joe Pacilio {President-Elect} Roy Blume {Vice-President} Sylvia Ramos {Secretary/Treasurer}

2014 ASSOCIATION DIRECTORS

4 From the CEO’s Desk Andrew Cooper, Chief Executive Officer

5 Attorney Comments Dave Freeman, AAR Legal Counsel

6 Market Matters

9 Affiliate Corner

“THE BIG QUESTION… Does My Client Have Liens?”

Joseph Haggerty, Nations Title Company

10 Through the Lens

A Look at What’s Happening Around the AAR

Micah Adams Ryan Asao Andy Bencosme Kelvin Chang Margaret Garemore John Lee Mark Ramos Dave Scarminach Irene Yamagata -Bermudez

2014 C.A.R. DIRECTORS

Ryan Asao Andy Bencosme Margaret Garemore Joe Pacilio Randall Traw Mike Vachani Kelvin Wong

ARCADIA ASSOCIATION STAFF Robin Allen Ext. 307 Director of Finance / Office Manager Robin@TheAAR.com Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com

02.14

{ Arcadia REALTOR® | February | Two Thousand and Fourteen | Volume Eighteen | Number Two}

2

February 2014

Brenda Faltes Ext. 304 Director of MLS Data Integrity, Supra & Social Media Brenda@TheAAR.com Jamie Hu Ext. 309 Administration Jamie.Hu@TheAAR.com Stephanie Maertens Ext. 303 Director of Education, Publications & MLS Caravan Stephanie@TheAAR.com Maria Roberts Ext. 305 Director of Membership & Professional Standards Maria@TheAAR.com Jane Shriver Ext. 301 Director of Association Services Jane@TheAAR.com Andrew Cooper Ext. 308 Chief Executive Officer Andrew@TheAAR.com

ON THE COVER 8

2014 Annual Installation of Officers & Directors A recap of the recent Casino-themed 2014 Installation.

ADDITIONAL CONTENT 3

AAR New Members The AAR welcomes its newest REALTOR® Members

5

2013 Affiliate of the Year, Maria Howard Congratulations to our 2013 Affiliate of the Year Award winner, Maria Howard, First American Natural Hazard Disclosure.

9 Annual Membership Dues Contest

Announcing the winners of the 2014 “Pay Your Dues Early” Contest.

11

2013 REALTOR® of the Year, Paulina Lee Congratulations to our 2013 REALTOR® of the Year Award winner, Paulina Lee, Keller Williams West Foothills.

11

2013 REALTOR® of the Year, Andy Bencosme Congratulations to our 2013 REALTOR® of the Year Award winner, Andy Bencosme, Century 21 Village.

11

2013 Community Service Award, Mary Margaret Rolf Congratulations to our 2013 Community Service Award winner, Mary Magaret Rolf, Dilbeck Real Estate

AAR New Members

The Arcadia Association of REALTORS® would like to formally welcome our newest REALTOR® members!

AAR new members with Membership Committee Vice Chairman, Cindy Shiao and 2014 President, Mike Vachani are (in no particular order): Karina Akhmedova, Keller Williams West Foothills; Linda Chan, K & L Properties Inc.; Eric Chang, Highland Real Estate; Kanghsiang Chen, Pacific Realty Center; Sheng Chen, IRN Realty; Zheng Cheng, Highland Real Estate; Eddie Chiang, Coldwell Banker George; Jonathan Chien, ADW Realty; Marcella Go, RE/Max Omega Monrovia; Jan Greteman, Prudential California Realty; Francis Ha, IRN Realty; Xiao He, IRN Realty; William Hsu, Coldwell Banker George; Lee Hau, Keller Williams West Foothills; Kasi Hyrapett, Keller Williams West Foothills; Donald La, Keller Williams West Foothills; Natalie La, Long Dragon Realty Group, Inc.; Chak Lam, Grandmark Realty Inc.; Cynthia Li, Champion Character Inc.; Xianling Li, Highland Real Estate; Canbin Lin, Treeline Realty & Investment; Chun-Chieh Lin, Castlewood Corporation; Kevin Lin, Coldwell Banker George; Shiyue Liu, Highland Real Estate; Zaira Lugo, Cal Mutual; Jennifer Mooc, Highland Real Estate; Yolanda Murph, Castlewood Corporation; Weijun Qiu, IRN Realty; Edgardo Rivera, Coldwell Banker Dynasty Arcadia; Peggy Still, Century 21 Adams & Barnes; Siu Tam, J W Mortgage & Properties Inc.; Amy Tang, Keller Williams Realty; Yun Tu, Coldwell Banker Dynasty T.C.; Maria Villacisneros, Coldwell Banker New Century; Alice Wang, Alice A Wang; Qing Wang, Century 21 Ludecke Inc.; Shannon Watson, Coldwell Banker Arcadia; Jianwei Xie, Highland Real Estate; Changqing Xiong, POA Investment; Jun Xu, Coldwell Banker George; Yang Yang, Jeau Hwang; Hong Zhou, Highland Real Estate; Finney Wei, IRN Realty and Robert Fernandez, Oasis International Realty Inc.

Arcadia REALTOR® Magazine

3

February Events M 3

9:00 a.m - 2:30 p.m. - “Fundamentals of Transaction Coordination”

T 4

10:00 a.m. - 12:00 p.m. - Zipform Plus Training 11:00 a.m. - Global Real Estate Committee Mtg.

W 5

8:00 a.m. - Lunar New Year Celebration 8:30 a.m. - MLS Caravan 9:30 a.m. - Events 4 Charity Auxiliary Mtg. 5:00 p.m. - 8:00 p.m. - E4C Charity Wine & Cheese Tasting

Th 6

9:30 a.m. - Commercial / Investment Committee Mtg. 11:00 a.m. - Commercial Education & Networking Session

F 7

12:00 p.m. - 1:30 p.m. - AAR Speech Club

M 10

8:30 a.m. - 3:00 p.m. - CRMLS Training

T 11

FROM THE CEO’S DESK Dear AAR Members, On behalf of your 2014 Board of Directors, I’d like to thank all the AAR REALTOR® Members including our Affiliate members who have wisely chosen to renew their membership or transfer their membership to the Arcadia Association of REALTORS® in 2014. We’re on track for a record number of renewals and incoming Realtor® transfers as of this writing in late January.

2014 marks the 90th Anniversary of the AAR and it promises to be another great year in your Association for many reasons beyond our anniversary. Here are just a few things coming your way:

11:00 a.m. - Tech / YPN Committee Mtg. 2:00 p.m. - 3:00 p.m. - “Proxio” Training

• A Single Sign-On (SSO) feature for all your websites! This means just ONE PASSWORD for CRMLS, AAR, CAR, NAR, RPR and many more websites you use for your business!

W 12

8:30 a.m. - MLS Caravan 8:45 a.m. - Affiliate Committee Mtg.

• The AAR is celebrating 90 years in 2014 so we’ll feature fun anniversary events throughout the year

Th 13

9:00 a.m. - 10:30 a.m. - “Real Estate Fraud”

F 14

10:00 a.m. - 11:30 a.m. - CRMLS Training

• An AAR “Family Day” designed for the entire family

M 17

AAR Closed in Observance of Presidents’ Day

T 18

2:00 p.m. - Education Committee Mtg.

W 19

8:30 a.m. - MLS Caravan 9:30 a.m. - Equal Opportunity / Housing Affordability Committee Mtg. 1:30 p.m. - Local Governmental Relations Committee Mtg.

Th 20

11:00 a.m. - 12:00 p.m. - Lunch & Learn Series Class 4:00 p.m. - 5:00 p.m. - Global Networking Event: “Dealing with Foreign Buyers and Investors” 6:00 p.m. - 8:00 p.m. - “Appy Hour”

F 21

12:00 p.m. - 1:30 p.m. - AAR Speech Club

M 24

9:00 a.m. - 12:00 p.m. - “Understanding the Impact of the Economy and the Stock Market on Real Estate”

T 25

W 26

1:30 p.m. - Budget and Finance Committee Mtg.

Th 27

1:00 p.m. - 2:00 p.m. - “The Truth About Mold and Moisture”

F 28

8:30 a.m. - Board of Directors Mtg.

4

8:30 a.m. - MLS Caravan

February 2014

• More Designation courses

• Our mega-popular “AAR Paper Shred Day” will be returning

• More AAR store “specials” and promotions

• The brand new AAR Speech Club designed to help our members with their public speaking and business presentations

• Many more exciting items and programs

On behalf of your 2014 Board of Directors, your dedicated AAR staff and the entire AAR leadership team of Committee Chairs, we all thank you once again for your renewed loyalty to the AAR.

Andrew Cooper Chief Executive Officer

For more information on upcoming AAR classes and more, visit www.TheAAR.com and click “Upcoming Events”

Attorney Comments February 2014

By Dave Freeman, Association Counsel 1. TITLE SEARCH - EARLY; Last month I discussed the importance of obtaining and carefully reviewing the preliminary title report, prior to listing a property or making an offer on it. A very important similar issue can come up involving a 1031 tax deferred exchange. If your client is involved in a 1031 exchange, and identifies three properties during the 45 day period required, once this period has run, your client can no longer identify other properties.

If the property or properties you have identified are not available, or do not belong to the party to whom you made an offer, the ability to complete the 1031 exchange maybe eliminated. After the 45 day period has expired, no further properties can be identified and included in the exchange.

The tax ramification of this can be enormous. Therefore, always check the titles of the properties your client is interested in purchasing or identifying as the replacement property (s) in s 1031 exchange, as

well as a normal purchase.

2. DEATH ON THE PROPERTY; A recent stabbing in our area brings forth an important disclosure element. A death on the property must be disclosed, if it occurred within the last 3 years. But what if a person died in the property more than 3 years ago, or, as in the current case, in a condominium in the same complex but not in the unit you are selling or purchasing? Must this be disclosed?

The law does not appear to require disclosure of this fact.

However, this information may be extremely important to your client.

Therefore, to properly represent your client-purchaser, direct inquiry of these facts may be a good idea.

3. ABANDONMENT OF LEASES; Recently, I have seen an increase in abandonment of leases in commercial properties. This may be because of businesses failing, or need to move to larger offices or a

different area. If there is a lease for a fixed period of time that has not expired, the landlord frequently will demand payment for the remainder of the lease, or until the landlord can re-rent the property. If the lease does not expire for another year or more, this can be extremely expensive and often leads to litigation.

Therefore, the tenant would be well advised to negotiate a reasonable buyout of the lease with the landlord prior to executing a new lease elsewhere. More importantly, tenants or prospective tenant should carefully consider the possibility that they may not be able to or wish to remain in that lease for a lengthy period. A good practice would be to attempt to negotiate an option to terminate the lease at certain intervals, at a particular price. This negotiation should be accomplished prior to executing the lease, while the landlord is still anxious to rent the space.

2013 Affiliate of the Year, Maria Howard

By Nikki Felix, Wells Fargo, 2012 Affiliate of the Year This year’s Affiliate of the Year recipient, Maria Howard, is from a large family of siblings and has a daughter. She is constantly on the move and is an avid runner. She has run in both ½ marathons and full marathons. She also enjoys golfing as part of the Latina Women’s Association.

Not only is Maria involved with the Arcadia Association of REALTORS®, she is also involved in the West San Gabriel Valley Association of REALTORS® and NAHREP’s Los Angeles Chapter.

She has received the Affiliate of the Year Award in 2010 from the Glendale Association of REALTORS®.

For the Arcadia Association of REALTORS®, she was the Affiliate Committee Chairperson last year and will hold that position again this year. I am honored to have presented the 2013 Affiliate of the Year award to Maria Howard, First American Natural Hazard Disclosure! Congratulations Maria!

Arcadia REALTOR® Magazine

5

Market

Matters

Market Statistics for the San Gabriel Valley December 2013 Single Family Homes

City

6

Zip Code

Alhambra

91801

Alhambra Altadena

Condominiums

Price % Sales of Chg from Sales Single Family Price Median December Count Homes SFR ($1,000) 2012 Condos

SFR Only

Price Price & Median Chg from Median Condo December Home Price/ ($1,000) 2012 Sq. Ft.

9

$568

15.9%

12

91803

8

$562

37.8%

4

91001

41

$530

12.5%

2

Arcadia

91006

25

$1,118

14.6%

8

Arcadia

91007

17

$1,320

1.1%

Azusa

91702

27

$358

Duarte

91010

10

El Monte

91731

El Monte

$425

11.5%

$368

$405

n/a

$390

$1,160

26.1%

$388

$623

-0.2%

$511

15

$500

31.1%

$626

23.4%

7

$277

14.2%

$311

$355

29.1%

5

$222

-20.2%

$364

6

$362

19.3%

2

$300

-7.7%

$353

91732

8

$355

10.8%

6

$358

0.0%

$301

El Monte - South

91733

10

$371

33.5%

3

$399

48.3%

$324

Glendora

91740

16

$418

22.8%

2

$354

n/a

$260

Glendora

91741

20

$548

2.9%

3

$360

21.9%

$321

La Ca単ada Flintridge

91011

16

$1,255

6.8%

1

$538

n/a

$543

La Verne

91750

22

$536

26.3%

5

$420

107.7%

$280

Monrovia

91016

23

$457

-1.1%

7

$450

61.3%

$370

Pasadena

91101

n/a

n/a

n/a

8

$445

-1.1%

n/a

Pasadena

91103

15

$555

44.2%

4

$489

20.2%

$361

Pasadena

91104

29

$647

23.2%

4

$380

n/a

$428

Pasadena

91105

10

$1,221

24.3%

6

$755

12.7%

$521

Pasadena

91106

4

$1,625

92.0%

11

$450

12.5%

$657

Pasadena

91107

30

$699

16.7%

8

$468

57.7%

$458

Rosemead

91770

14

$530

44.2%

2

$391

2.8%

$319

San Gabriel

91775

18

$757

10.8%

1

$300

0.8%

$444

San Gabriel

91776

14

$506

24.9%

3

$398

21.3%

$383

San Marino

91108

14

$1,993

16.4%

n/a

n/a

n/a

$701

Sierra Madre

91024

6

$646

-25.3%

n/a

n/a

n/a

$463

Temple City

91780

22

$674

28.3%

5

$396

-13.9%

$428

Source: DQNews.com

February 2014

Arcadia REALTOR速 Magazine

7

ht g i N o n i s Ca s a g e V s a L

2014 President, Mike Vachani gives his acceptance speech.

2014 AAR Officers & Directors being sworn in are (L to R): John Lee, Director; Margaret Garemore, Director; Ryan Asao, Director; Micah Adams, Director; Andy Bencosme, Director; Kelvin Chang, Director; Mark Ramos, Director; Sylvia Ramos, Secretary/Treasurer; Roy Blume, Vice-President; Joe Pacilio, President-Elect. Not shown: Mike Vachani, President; Dave Scarminach, Director and Irene Yamagata-Bermudez, Director.

The Arcadia Association of REALTORS® recently installed the new 2014 Officers and Directors at the 90th Annual Inaugural Celebration held on Friday, January 10th at Noor Ballroom at Paseo Colorado in Pasadena. More than 180 REALTORS®, Affiliates and guests attended the casino gaming-themed event.

Master of Ceremony for the evening was Nick Zigic with Prominence Capital Advisors. The Installation ceremony was conducted by Mr. Anthony Portantino.

The Officers installed were: Mike Vachani, President; Joe Pacilio, President-Elect; Roy Blume, Vice President and Sylvia Ramos, Secretary/Treasurer. The 2014 Directors are: Micah Adams, Ryan Asao, Andy Bencosme, Kelvin Chang, Margaret Garemore, John Lee, Mark Ramos, Dave Scarminach and Irene Yamagata-Bermudez.

The Installation ceremony of 2014 President, Mike Vachani and Officers and Directors was followed by the presentation of the coveted “REALTOR of the Year” award presented to both Andy Bencosme, Century 21 Village and Paulina Lee, Keller Williams West Foothills and the “Affiliate of the Year” award presented to Maria Howard, First American Natural Hazard Disclosure.

Outgoing President, Andy Bencosme, received special honorariums and recognition from the City of Arcadia, City of Sierra Madre, Congresswoman Judy Chu, U.S. Representative for California’s 27th Congressional District; Assemblyman Ed Chau, California State Assemblyman representing the 49th District and Jeffery Prang, Los Angeles County Assessor’s Office.

Acknowledgement of special guests included eight Arcadia Association Past Presidents along with Presidents and Association Executives from several neighboring Associations.

8

(Ceremony Photos Continued on Page 10)

February 2014

Affiliate Corner

“THE BIG QUESTION… Does My Client Have Liens?”

By Joseph Haggerty, Nations Title Company

One of the most common questions is all too often not answered early enough in a real estate transaction. A simple SI (Statement of Information) is the key requirement from title to clearing the name of your seller or borrower (in the case of a refinance). Though liens and judgments can also be recorded against the property itself, those will appear on a preliminary title report and quite possibly on a simple property profile. Liens against a name include, state, local and federal tax liens, child support and judgments from either creditors or claimants in lawsuits.

These liens will be included in a prelim and are required to be satisfied or cleared before close of escrow. Avoidance of satisfaction in the case of a lien or judgment in a real estate transaction is not an option unless the party placing the lien gives authorized official instructions to allow the transaction to take priority (this is not ever likely the case). In order to answer the big question and save your seller, potential buyer and even yourself from stress and grief; I suggest asking for the SI to be filled out ahead of time along with all other agreements and contracts.

As a real estate agent, you might view your clients sometimes as a new friend and someone you want to build a close and trusting relationship with to ensure that future transactions are in the picture. With this in mind, you must also consider the possibility of last minute problems such a child support lien or judgment causing your deal to fall through. Balance is the

key. Bundle the SI with all other forms that are filled out with your listing agreement and save yourself from having to ask for it separately. Some red flag characteristics that might warrant asking for the SI ahead of time include but are not limited too; past divorce, bankruptcy, client owns or has owned a business and/or the client is an investor of some sort.

What is a Statement of Information and How Does it Work?

The SI is a one page document that should be included immediately at the opening of escrow and forwarded directly to title upon request of the preliminary title report. This form includes the party’s full name, social security number and date of birth, along with current and 10 years of previously know addresses.

This information allows the title company to cross-reference the subject party in order to clear or prove items such as liens or judgments matching the subject party. The SI is reviewed by a title officer upon request of the escrow company, and once again when escrow has given instructions to close your transaction.

If you are starting to work with a new client and want to get a good idea ahead of time, you can always inquire for an unofficial review of your clients’ history by calling a licensed title professional or title companies’ customer service department.

For more information on title related issues please contact Joseph Haggerty at 626.340.6496 or e-mail him at joeh4title@gmail.com

Annual Membership Dues Contest The AAR recently held a membership contest as an incentive for members to pay their annual Association dues before December 31st. Over 1,300 AAR members qualified for this contest. The prizes for the winners were: $100, $75 and $50 Visa gift cards. The drawing took place on January 15th at the MLS Caravan meeting at the Masonic Center.

Congratulations to the winners!

$50 Master Card gift card goes to German Ghibaudo, Century 21 Ludecke Inc.

Not shown: Nellie Chen, IRN Realty, $100 Visa gift card winner

$75 Master Card gift card goes to Tawny Ky, Keller Williams Realty.

Arcadia REALTOR® Magazine

99

through the lens

A Look at What’s Happening Around the AAR

2014 Annual Installation of Officers & Directo rs

10

February 2014

2013 REALTOR® of the Year, Paulina Lee

2013 Community service award, Mary Margaret Rolf

Presented by George Monte, 2012 Award Recipient We are delighted to announce that our Nominating Committee has chosen not one, but two very special people to receive the coveted “REALTOR® of the Year” award this year. This award is given to someone who has had business success, who is advanced in their real estate education and designations, who participates in their local Association and protects and promotes organized real estate, among other things.

The first award winner, Paulina Lee, immigrated to the United States at a young age with no idea where her future would take her. Her first job in the United States was as a bartender.

The long hours of this position did not work well for her and her family. Therefore, she looked for a career that would have flexible hours. Thus, becoming a REALTOR®!

Paulina has been a member of the Arcadia Association of REALTORS® for just over 22 years. She is extremely active in the commercial, investment and business opportunity arenas of real estate. Throughout the years, she has obtained the Graduate REALTOR® Institute Designation, the Certified International Property Specialist Designation and the Transnational Referral Certification. She is also a Business Opportunity member of California Business Brokers and has served as President of the Arcadia Association of REALTORS®.

Although, she is passionate about real estate, her interests are not restricted solely to this area. She also enjoys gardening, growing orchids, ballroom dancing and shopping.

It was my honor and privilege to present one of the coveted “REALTOR® of the Year” awards to an esteemed colleague and personal friend of mine, Paulina Lee, Keller Williams West Foothills!

Presented by Irene Yamagata, 2010 Award Recipient The Community Service Award this year was presented to a very deserving individual - Mary Margaret Rolf, Dibeck Real Estate.

The award is presented to someone who is very active within both the Association and within their local community. The Arcadia Association highly values its local communities and finds importance in giving back.

We are honored that so many of our members find value and importance in this as well.

Mary Margaret is a native of Southern California and has been a member of the Arcadia Association of REALTORS® for just over 23 years. Throughout that time, she has been very involved in volunteering within her church and also within the real estate community. She joined the AAR Real Estate Professionals Charitable Giving Committee shortly after becoming a member of the AAR. In more recent years, she has been a member of the same Committee, now called Events 4 Charity Auxiliary, for 7 consecutive years.

She has been a key role in planning all of the AAR charitable events and assisting the Association in giving back over $160,000 to local charities since she has been a part of the AAR Events 4 Charity Auxiliary. This year, she has volunteered to step up and take on the role of Chairperson of this important facet of the AAR. It was my honor and privilege to announce the winner of this outstanding award - Mary Margaret Rolf, Dilbeck Real Estate!

Congratulations Mary Margaret!

2013 REALTOR® of the Year, Andy Bencosme Presented by George Monte, 2012 Award Recipient Our “REALTOR® of the Year” winner, Andy Bencosme, was born and raised in New York City. Upon receiving his Bachelor of Arts degree at Queens College of the City University of New York, he decided to flee the cold weather and retreat to Florida, where he became a high school history, journalism and photography teacher. Andy then went on to complete a Masters degree in Business Administration from St. Leo College in Florida.

(Continued on Page 12)

Arcadia REALTOR® Magazine

11

Arcadia Association of REALTORS® 601 South First Avenue Arcadia, California 91006

2013 REALTOR® of the Year, Andy Bencosme (Continued from Page 11)

Andy then decided to leave behind the teaching profession and instead, pursue the internet world with a position at EarthLink in Pasadena. While working here, he obtained his real estate license. One transitioning to real estate full-time, he obtained his Brokers license and became active in the local Association.

Andy has been a member of the Arcadia Association of REALTORS® for 10 ½ years.

He also has passions outside of the real estate world. He has been a youth sports coach, he has served on the Monrovia Library Board and has been actively involved in Kiwanis, MENSA and the Monrovia Old Home Preservation Group.

He also has served as President of the Arcadia Association of REALTORS®.

It was my honor to present the second prestigious “REALTOR® of the Year” award to Andy Bencosme, Century 21 Village!

Dedicated to Providing High Quality Legal Services ®

• Estate Planning • Trust Administration • Probate • Business Law • Commercial Transactions • Corporation, LLC & Partnership Formations • Business Contracts

Call today for a free consultation

Romy S. Rahmanian, Attorney

(626) 869-8787 33 East Huntington Drive • Arcadia, CA 91006 romy@rahmanianlaw.com • www.RahmanianLaw.com

12

C. Anthony Phillips, CPA President

We Provide A Complete Service To Successfully Accomplish Tax Deferred Exchanges Pre-Exchange Tax Planning Accommodation of Tax Deferred Exchange Post Exchange Tax Planning

Call for your free Exchange Tax Analysis 909 East Green Street, Pasadena CA 91106-2930

Phone: (800) 743-1031 Fax: (626) 796-8222

www.DownstreamExchange.com