Realtor® Magazine October November 2016 by Bakersfield Association of REALTORS®

OCTOBER/NOVEMBER 2016

2016 YEAR IN REVIEW

Moments and memories celebrated for a successful year! REALT OR S

GROW I N G

JOHN 3:16 A

S T RO N G E R

C O M M U N IT Y

It’s time to fall in love with a Castle & Cooke community all over again. Introducing

New Homes by Castle & Cooke California, Inc. GATED PRIVACY | SWIM & FITNESS CLUB | PRIVATE PARKS

The Seven Oaks tradition continues. Model Homes Now Open Ming Ave. and Allen Rd.

Open Wednesday – Saturday 10 AM to 5 PM and Sunday 11 AM to 5 PM Ming Ave. and Allen Rd. For the latest information join our interest list at HighgateSevenOaks.com

CONTENTS BAKERSFIELD REALTOR ® MAGAZINE

4 PRESIDENT’S LETTER

Bill Redmond reflects on 2016 and all of our accomplishments.

7 LEADERSHIP ACADEMY

Sheri Anthes excited at the prospect of engaging Leaders of tomorrow today.

MIDGE JIMERSON, 2017 PRESIDENT

It’s going to be a legacy of leadership as Jimerson is excited about the vision and values that will come into play under her leadership.

10 MICK GLEASON

HICS CODEDE OFOFETHETICS

Chairman of the Kern County Board of Supervisors talks about reshaping the County budget.

® Code of Ethics training… G throughout the year. complete to R ® be required N I Nclass ® A I REALTOR Tan, is facilitating the L T O R AREALTORS NAR mandates R Ethatce, Joe Newton, Ombudsm for your convenien

CODE OF ETHICS

Training Schedule at the Association Mark your Calendar!

13 JOHN BOYDSTUN HOME 15 BRINGING THE CURE

The life and journey of an icon.

2016 NAR Quadrennial Code of Ethics with Joe Newton Classes will be held the 3rd Wednesday of each month. No additional classes will be added to the schedule. Don’t wait, schedule your class now! October 19 9:00 – 12:00 November 16 9:00 – 12:00 December 14 9:00 – 12:00

A passionate group of our members all fired up in the fight against cancer

HAS BIG PLANS 19 YPN FOR 2017

Scott Knoeb will lead this young group with the goal of enhancing our future leaders.

This is a member benefit no charge to our members

IMPORTANCE 25 THE OF CHANGE

Cost for non-local members: $25

For more information call 661635.2315

The future of our industry relies on the ability to change directions.

A VALUE31 CREATING DRIVEN ORGANIZATION

Focus on the investments that give the greatest return.

Executive Editor - Linda Jay, CEO Managing Editor - Carol Duran Graphic Designer - Carol Duran Bakersfield Association of REALTORS® 2300 Bahamas Drive, Bakersfield, CA 93309 P. 661-635-2300 F. 661-635-2317 www.bakersfieldrealtor.org www.bakersfieldrealtor.com facebook.com/bakersfieldrealtors twitter.com/bakorealtors

2016 OFFICERS President Bill Redmond Watson Realty ERA President-Elect Midge Jimerson Boydstun Realty Co., Inc. Vice President Derek Sprague Sprague Real Estate Group

2016 DIRECTORS Secretary/Treasurer Athena Collup Miramar International — Mill Rock Immediate Past President Sheri Anthes Coldwell Banker, Preferred — Ming

Chief Executive Officer Linda Jay

Pam Epps Miramar International – Truxtun Brian Tuttle Coldwell Banker Preferred – Coffee Kevin Palla Broker

Wayland Louie RE/MAX Golden Empire Scott Knoeb Frontier Real Estate Group, Inc. Ashley Weaver Karpe Real Estate Center

Darlene Tobias Century 21 Tobias Real Estate

LETTER FROM THE PRESIDENT

BILL REDMOND Watson Realty, ERA

GET BACK IN THE BOX

BAKERSFIELD REALTOR® MAGAZINE

ell I can’t believe it. The year is almost over and so is my Presidency. I can remember when I decided to go on this journey to lead the most dynamic Association of REALTORS® ever. My journey started in leadership almost 10 years ago. I was appointed to represent one of the large brokers on the GEMLS Board of Directors. It was my first time serving as a director, and I had no clue what I was doing. This is where I learned that keeping my mouth closed and observing the protocols of my fellow directors was my best chance to succeed. I served on the GEMLS Board for approximately 2 years before I became a Director on the Association Board. I learned so much during my tenure as a Director for each of our corporations. The most important thing I learned, was that it is an awesome responsibility to serve our members in this capacity. You are responsible for maintaining the high level of integrity for which our Association is well-known, and also continuing to be a strong voice of advocacy for our industry. I learned that in order for us to succeed, we must leave any personal agenda we might have at the door before entering the board room. I learned that our success is dependent on being one voice, not that we always agree on everything, but once a decision is made, we stand together with one voice for the good of all members and the consumers we serve. So taking what I had learned over the past few years, I decided to work my way through the chairs to be your President. I made this decision knowing what a great responsibility it would be. I knew it wasn’t going to be easy, but I truly wanted to serve the Association that had given so much to me. My theme for 2016 is “Getting Back in the Box”. I wanted everyone to get back to the way things should be done. Whether it’s picking up the phone to solve a problem, or renewing old relationships that had been destroyed because you didn’t see “eye-to-eye”, I felt the only way I could do this was to have a great leadership team. A good leader is only as good as the people who serve with them. I have the greatest leadership team. I first started off with “Bringing Home the Cure”. This is by far one of our largest fundraising events. This group of REALTORS® raised over $89,000 this year with our annual wine event. I am so proud of how our REALTORS® worked together for a cause that was greater than themselves. It was truly amazing, and I know they are going to do even more amazing things next year. Another thing we did this year was implementing NAR’s 2015 President, Tom Salamone’s directive to have all associations across America build a partnership with their local Boys & Girls Clubs. We combined two committees for this task, and they ran with it! We hosted our first “Career Launch Program”, and it was a huge success. Lastly, we conducted our first ever “Phone Bank”. This is where our leadership team personally called it’s members… and asked them to make contributions to the “Realtor Action Fund”. These funds are critical for the protection of our way of doing Business as well as private property rights. I’m pleased to say that we exceeded our goal! I’ve been very proud to serve as your 2016 President, but I’m most proud of the people with whom I served. These dedicated professionals have taken time out of their busy schedules to “Get Back in the Box”… they did it for you, me, and our community.

LETTER FROM THE CEO

LIGHTS are on

but nobody’s home

istory is fascinating! My husband and I just traveled through Europe on a river cruise with a group of friends. It was breathtakingly beautiful with lush country sides, majestic mountains and countless awe-inspiring castles decorating the skyline high above the river’s edge. Europe has a rich and colorful history, spanning hundreds of centuries! There was a time of castles and kings with much wealth and beauty, but too often at the expense of the citizens of their kingdoms. The rulers lived in lavish luxury, while the peasants lived in mediocrity and many times poverty. It was dog-eat-dog and many times very barbaric! It’s easy to understand why our forefathers longed to find a new home, to break away from the tyranny and mediocrity with which they were subjected. Sorry for getting a little caught up in the drama! Some of the castles we visited were once beautiful palaces, but today stand in ruins after sustaining severe damage during previous wartimes. Others are adorned with such ornate extravagance and opulence that it literally takes your breath away! It was fascinating to wander through many of these stately works of art, each one with their own rich history and uniquely interesting story. Despite all their majestic grandeur, there was one essential element missing… people. Granted, there are thousands of tourists that

Mediocre –

of only moderate quality – not very good ‘The price of excellence is discipline, the cost of mediocrity is disappointment.’ – William Arthur Ward, American Author

pass through those structures on a daily basis, but a minuscule number of them are actually occupied by the one thing that makes a house (or a castle) a home… people! One of the picturesque cities we visited was Prague. Statistically, only 30% of the people of in the Czech Republic own their own home… How tragic is that??? Most live in apartments that are not privately owned… many of which consist of one large room, a kitchen and a bathroom… can you imagine? Such a lifestyle is so foreign (no pun intended) to our way of life! It really reminds one of how blessed we are that we live in such an exceptional country in which we are afforded such great opportunity! Our tour guide went on to tell us that because of their sordid history of sometimes very restrictive government styles, it has resulted in many people from these countries becoming very cynically disillusioned by the hype and promises made by their government, only to be stripped of what they have earned

in the form of heavy taxes. Why work so hard to achieve something better. It’s easier to just live in mediocrity. Even though our country is still very young, it also has a very rich history, but with sharp contrast to that of our European neighbors. Our forefathers were servant leaders who wanted to make things better for generations to come… and they did just that. It bore witness to their commitment, not to achieve fortune and fame, but to make a difference… many times at great cost and sacrifice. Authors Kouzes/Posner eloquently describe them as: “Exemplary leaders, interested more in others’ success than in their own. Their greatest achievements were the triumphs of those they served. Knowing they have made a difference in others’ lives is what motivated their own, giving others (leaders) the strength to endure the hardships, struggles, and inevitable sacrifices required to achieve great things. Leaders who see their role as serving others leave the most lasting legacies.” Gratefully, we are the benefactors of that noble legacy. The lull of complacency results in mediocrity. Let us never neglect to demonstrate the same caliber of prudent leadership handed down by our forefathers. Let us always strive to make things better for those who follow! BAKERSFIELD REALTOR® MAGAZINE

REALTORS LOVE SUMMIT! We are proactive, accessible and organized, with more choices and options for your buyers. We are the seasoned professionals that you can count on.

REACH YOUR FINANCIAL SUMMIT

EXCEPTIONALLY COMPETITIVE RATES AND FEES PURCHASE:

REFINANCE:

Potentially reduced wait time for credit events, such as bankruptcy and foreclosure*

FHA and VA streamline refinances, no income qualifying and no appraisal required

FHA up to $279,000; VA up to $1.5 million; conventional up to $417,000; and jumbo up to $3 million

With rising property values, eliminate mortgage insurance

FICO’s down to 580 and manual underwriting available

Unlimited LTV for HARP refinances

Free pre-qualification

SUMMIT. “WE’RE ON TOP OF IT!” locally owned & operated 3977 CalBRE#01522391

NMLS#303625

BAKERSFIELD REALTOR® MAGAZINE

Coffee Road, Suite A call 661.615.1111 click GoToSummitFinancial.com Options subject to terms & conditions, please call for details. *Must meet requirements pursuant to HUD Mortgagee Letter 2013-26. ©2016 Avenon Funding Inc., DBA Summit Financial Services Real Estate Broker, California Bureau of Real Estate. All rights reserved.

LEADERSHIP ACADEMY

DEVELOPING leaders of tomorrow TODAY! n To

contribution by

SHERI ANTHES

Coldwell Banker Preferred, Ming

e believe our future is to be even brighter than our past and are excited at the prospect of engaging the Leaders of tomorrow. It happens often; when given the opportunity to shine, untapped talent emerges. This is why the NAR Leadership Academy was created in 2008. As a volunteer leader, a 1-year term doesn’t allow for on-the-job training. NAR’s Leadership Academy puts volunteer leaders on the path to mastering the intricacies of the National Association that will prepare one for success. When a Leadership role is accepted as a volunteer, the commitment level and passion are a unique dynamic. Vince Lombardi believed that Leaders are made; they are not born. Leaders are made through hard effort, which is the price all of us must pay to achieve any goal that is worthwhile. Complementing this approach is the statement made by John F. Kennedy who believed ‘leadership and learning are indispensable to each other.’ I am proud to announce that the Bakersfield Association of REALTORS® will be launching our own Leadership Academy in 2017. We believe our Academy will give attendees a chance to experience and understand the rewards of serving the

REALTOR® community, and also identify those whose talent and commitment will set the tone for the future of our Association. We are excited and confident this will be a career-and life-changing experience for anyone interested in delving deeper into the challenging and rewarding role of Leadership. A brief outline behind the purpose of our Leadership Academy: n To develop service-minded REALTORS® who seek to be Leaders in our Industry. n To identify REALTORS® who have demonstrated leadership potential and an interest in the REALTOR® organization, its history, and goals. n To improve leadership competence and cultivate the potential of future leaders. n To develop practical application and increase understanding of leadership roles within the Association.

develop the skills needed to have a positive impact on your community. n Citizenship: Recognize that effective democracy involves individual responsibility as well as individual rights. n Code of Ethics: Better understand the REALTOR® code and how it differentiates us from other organizations. Develop the characteristics of an ethical leader. Participants will focus on trustworthiness, fairness, responsibility, respect, care, and citizenship. n To motivate participants by increasing their awareness of real estate and association management issues and challenges and involving them in problem-solving activities on issues of current interest. n To gain a deeper understanding of the tripartite method of governance through NAR, C.A.R., and the Bakersfield Association of REALTORS®. n And much more. The talent pool is endless; those who complete the program are assured of personal growth and a deeper understanding of what it means to be a REALTOR®. It is our hope to create a well-prepared group of individuals who desire to share their resources and talents to the betterment of our local Association and the Industry as a whole. It promises to be an exciting year. BAKERSFIELD REALTOR® MAGAZINE

CHICAGO

SUM M I T proofed

L E A D E R SH I P

It was a time of learning and inspiration for our incoming President

Midge Jimerson

Leadership is about making a difference… making things better for those who follow! The legacy you leave is the life you lead. —Midge Jimerson 2017 President

BAKERSFIELD REALTOR® MAGAZINE

Midge Jimerson Brings a Legacy of Leadership…

Shares Her Vision and Values 2017

President of the Bakersfield Association of REALTORS® — it is an honor and privilege I have been anticipating for quite some time! I will be the first, third-generation female REALTOR® to serve as President of our Association. To follow in the footsteps of so many great leaders who have served our industry and community for over 110 years is truly humbling. It was their vision Midge Jimerson and values that have skillfully led and grown our Association to the stature we exemplify today! That is why I have selected the theme, VISION AND VALUES - A LEGACY OF LEADERSHIP for my 2017 Presidency. As a third-generation REALTOR®, I am very proud of the legacy of leadership my family has handed down to me. I was born into a real estate legacy of leadership. My grandfather served as President in 1945, and my father served in 1952. They were two very amazing men. I learned about real estate from childhood. In our household, you couldn’t answer the phone unless you knew how to answer it professionally. This meant being able to take a message that included the date, time, the caller’s name, phone number and the purpose of the call. I worked in the office and learned about listings and the MLS. I would help my dad while he held an open house – so I learned how to show a home at an early age. Having held my license since 1993, I have learned so much about real estate. I have learned the importance of private property rights; and most importantly, how to serve your buyers and sellers in the best capacity possible. When I joined Boydstun Realty Co., Inc., my father was my broker. The first thing he encouraged his new agents to do was to get

involved in our local Board of REALTORS®. He explained that it would help get us connected with more people in the industry. He was so right! Because of that great advice, I have served on almost every committee we have at the Association. The benefits have been enormous! Serving has proven to be very enlightening and educational, and has enriched my profession in ways I never dreamed. Plus it has helped me get

to know my colleagues on a personal level. Many times it helps when you are trying to work a transaction to have that connection. I have experienced many changes during my real estate career. From new ways to access information for our MLS, changes and more changes to our contacts and disclosures, (and yes, there will be more new versions and new forms to come in the future); many new rules; new laws to protect the consumer, along with all kinds of changes in technology. From NAR, C.A.R., to our local Association, collectively we are constantly trying to improve and hone the real experience, the clients’ experience, and consumer protection. I am so grateful for the many opportunities I’ve been provided; opportunities many other REALTORS® have never experienced. In my early years of real estate, I would travel with my dad to C.A.R. meetings. I have been privileged to attend legislative days many times in Sacramento. It’s amazing to know that we truly can make a difference by meeting face-to-face with our elected officials, opening their eyes to how a bill will impact the real estate community, whether positively or negatively. It’s that kind of leadership and advocacy that is so important to our members. My goals for 2017 include: n To engage more of our members to serve in various capacities at the Association. We are very proud of what we can accomplish together, and each member is an important part of our success. It is somewhat like a gym membership – there is not a lot of benefit from it if you don’t participate! n Another goal is to grow more leaders! We all have a leader inside us just waiting to come out! I look forward to beginning my year of service as your President and am so proud to do so. Sadly, it has been overshadowed with the passing of one of the greatest men I have ever had the privilege of knowing – that is my dad! But it is because of his leadership, encouragement, and his enthusiasm for real estate that I am here today… ready to serve our you, our industry and our community. BAKERSFIELD REALTOR® MAGAZINE

Loss of Oil and Gas Property Tax Revenue

Reshaping the County Budget contribution by

MICK GLEASON

Chairman, Kern County Board of Supervisors

f there is one thing that our County budget has taught us in the past two years, it’s that we must respond to a “new normal” in County revenues. The $81 million loss of oil and gas property tax revenue over the past two years has been staggering, by far the largest decline in Kern County history. These epic revenue losses may be here to stay and may never be fully restored. We need to adopt an entirely new mind-set about how we value and deliver government services. At the County level, our commitment to public health and safety remains steadfast. The budget that the Board of Supervisors adopted on August 23rd devotes nearly half of the General Fund to public safety – the Sheriff, District Attorney, Crime Lab, Probation Department, Public Defender and Indigent Defense. A substantial share will also go to the Fire Department. Protecting the public goes well beyond traditional law enforcement and fire protection to include child protection, preventing the exploitation of seniors and the disabled, ensuring clean and healthy food and water, enforcing laws governing land use, monitoring grocery stores and gas stations to make sure consumers get what they’re paying for, and keeping dangerous stray animals off of our streets. Enforcing these laws, too,

BAKERSFIELD REALTOR® MAGAZINE

Mick Gleason

Chairman, Kern County Board of Supervisors

requires resources. The County also maintains roads, parks, and libraries, not only throughout metropolitan Bakersfield but in nearly every outlying community. These County assets are vital to our residents, but we have maintained them with lower and lower service levels as our economy has delivered fewer revenues. We cannot continue on this path and still have the thriving, prosperous community that we all want and deserve. How do we provide the many vital services the public needs as we tame an $81 million deficit? We know it will take extraordinary measures from all departments, including those in public safety.

In recent years, all County General Fund departments, except public safety, have trimmed spending to help the Sheriff, DA, and Fire Departments maintain services. This year, County supervisors also required our law enforcement and fire administrators to make some very tough decisions on how and where they will deploy limited resources. Those decisions won’t get any easier in coming years, but I am confident that our public safety officials will continue to provide top quality services wherever and whenever possible. As we reshape County government to fit the “new normal”, we must reject the death spiral of decreasing services that can often result from dwindling resources. We need to take a much broader view of what local government should and should not do, how to bring the greatest value to what we do, and how to become as efficient as we can possibly be in everything that we do. Keeping the commitment to quality and value is the same challenge that private businesses face every day, and County government must be no different in serving you, our public customers. Our County employees are our greatest blessing. From stem to stern they have consistently delivered quality services and I’m proud of each of them. They have risen to the top despite challenging circumstances in the past and I am confident they will deliver in the future. Go Kern.

REA LTOR ® A DVOCACY… LET YOUR VOICE BE H EARD

t’s quite possible that some of our members might be slightly bored with hearing me talk so much about Property Assessed Clean Energy (PACE) Programs. I realize that many of our members have become familiar with this type of financing, but we are still hearing from many of our members who aren’t aware of the pitfalls that can be associated with PACE financing. As your Government Affairs Director, it is my responsibility to caution you that the situation with PACE financing might get worse before it gets better. My goal is to make sure our members are as educated as possible. This is also important information for your clients. So, here I go again. What drawbacks could there possibly be with a government-sponsored program which enables homeowners in Kern County to reduce their utility bills while helping to save the environment? Plenty! First, here’s some background about this important issue. FACT: The Property Assessed Clean Energy (PACE) program allows homeowners, through an assessment on their property, to finance various energy conservation-related improvements, such as energy-rated water heaters, windows, and solar panels.

over-leverage their homes. Reality No. 2: You may not be able to refinance your mortgage with a conventional mortgage. Fannie Mae and Freddie Mac are prohibited from purchasing mortgages with PACE liens on them because as tax liens, they put lenders in a secondary position if the loan cannot be repaid.

popular program that should concern every homeowner. Here are five key realities about PACE liens: Reality No. 1: Homeowners may wind up borrowing too much on their property because the limits are very generous. For example, the owner of a $400,000 home could borrow up to $60,000 on his/her home. Caution is needed to avoid overleveraging your home with a PACE lien. Like a mortgage, the PACE lien comes out of the homeowner’s equity. Unlike a mortgage where a lender, by law, is required to ensure you can afford the payment, PACE lenders are not under such obligation, which could lead homeowners to

Reality No. 3: A PACE lien can be very expensive. Interest rates and fees are generally much higher than those for mortgages or home equity lines of credit. Worse, you will likely have to pay off the lien in order to sell the property to a buyer who wants to obtain conventional financing. Paying off a PACE lien will reduce the amount a client can realize from the sale of his/her home, and in some cases, could impose a financial hardship and make the home impossible to sell. Reality No. 4: Clients have a hard time finding potential buyers for their homes. Because Fannie Mae and Freddie Mac will not approve mortgages for properties with an existing PACE lien, conventional buyers will not be able to purchase their property CONTINUED ON PAGE 16

FACT: When the house is sold, the assessment may transfer with the property and become the responsibility of the new owner. However, the majority of mortgages prohibit this transfer. FACT: The loans are repaid over as long as 20 years. A PACE lien is similar to a property tax lien. In fact, it’s a line item on the homeowner’s property tax bill and is paid at the same time and in the same way as property taxes. There are definitely some downsides and hidden risks to this increasinglyBAKERSFIELD REALTOR® MAGAZINE

BACK TO THE BASICS Quality v Quantity KRISTEN MACDONALD Content specialist for Line Wolf Real Estate Technologies

Don’t make the mistake that more agents is better than fewer, more qualified agents. We see it more often than we would like — a new broker opens up her first real estate brokerage and immediately her mind goes to recruiting as many sales associates as possible. You may think, well, more agents, more deals, more money, right? But, there is more to the equation. And, it means going back to the basics. Did you ever get upset as a child because Billy down the road had more people at his birthday party and half of your soccer team couldn’t make it to yours? Chances are you went moping to your parents about it, and they replied with some line about how it doesn’t matter how many people come to your party, or that Billy had 20 guests. What matters is that you have 10 friends coming who really care about you, and you can still have a great time with them. Sound familiar? It’s a simple principle that many of us were taught from an early age, and one that is reflective of the sustainability of your real estate brokerage – quality vs. quantity.

BAKERSFIELD REALTOR® MAGAZINE

The reality is that there is no benefit to recruiting 50 agents to your brokerage over five agents if those agents aren’t quality real estate professionals. And as a real estate broker, it’s your job to ensure you have a handle on which agents are contributing to the success of your brokerage and which agents aren’t. At a first glance, you may be inclined to say that all of your agents contribute to your success and that you are set up for a record year. After all, each agent has closed more deals than last year and you have more listings than ever before. But, identifying quality agents means taking a deeper dive into their true value to your brokerage. Commission Cutting A great place to start when evaluating the true value of an agent is with their commission cutting habits. You may think that your highest producing agent is the greatest contributor to your bottom line, but a deeper dive into the metrics reveals that he is actually reducing his commission on multiple deals, meaning money lost for your brokerage. Agent Net Worth There is a base cost for each agent on your team. Training, paper, photocopies, websites, software — they all cost money. So, while

your agents may be closing deals, you need to ensure their activity is enough to cover their expenses. Then, you will truly understand which agents are making you money and which agents cost you money. Agent Performance Understanding how your agents do business will allow you to understand better where your brokerage stands financially. A more indepth look at agent performance may reveal that your agent who closed the most deals last year had a lower average selling price and, that, in reality, another agent who closed fewer deals did so at a higher price — making you more money. When it comes to the success of your brokerage, there is more than meets the eye; determining the value of your agents and ultimately the sustainability of your real estate brokerage starts with the data. An investment in the tools to help you collect and understand this data is worthwhile and allows you to plan for your future success. Any business can get complicated. It’s important to remember the basics: quality vs. quantity. After all, I am sure you walked away from that birthday party with memories of a great time with friends, not of Billy’s guest list. This article reprinted with the permission of RealTrends Inc. Copyright 201

The Life & Journey of an Icon John Boydstun, January 10, 1920 - August 31, 2016

John Eldon Boydstun Sr. passed away peacefully on August 31, 2016 with several family members present. He was preceded in death by his parents Pattie Dickey Boydstun and Charles Eldon Boydstun, his sister Nelbeth Boydstun Mooring, one great granddaughter Macy Lynn Tubbs, and his precious wife Margaret “Peggy” Archibald Boydstun. John was born January 10, 1920 in El Centro, CA and was raised in Brawley, CA. The family moved to Bakersfield, CA in 1936. In 1938, John’s father C.E. Boydstun established Boydstun Realty Co., Inc. John attended Kern Union High, now Bakersfield High School. He graduated from Bakersfield Jr. College, was known for having a lot of spirit, and excelled as a BC song leader. He graduated from UC Berkley with a BS degree in Business Economics. In 1941, John received his real estate license and he became a partner with his father at Boydstun Realty Co, Inc. When WWII broke out, John put his real estate license on “ice” so he could serve his country. He enlisted in the U.S. Army Air Corp, where he ultimately achieved the rank of Captain. He returned from WWII in the winter of 1945. John resumed his real estate career, and he studied for his brokers license which he obtained in

John Boydstun 1920 - 2017

1946. John served as the 1952 President of the Bakersfield Association of Realtors. He achieved numerous accolades because of his dedication to the real estate community. John met Peggy Archibald his, “forever valentine” in February 1947. The two were married June 28, 1947. The couple settled in Bakersfield, where they raised Patti, Bonnie, Midge and Jay (John Boydstun, Jr.). He was sweetheart to his wife, and the love of her life. He was an exceptional father, grandfather, and great-grandfather. John helped establish the Bakersfield

College Alumni Association. He was a big BC Football supporter, and he was known for giving out the little red coin purses that are now stored in the archives at BC. John was one of the original members of the Bakersfield Country Club and an avid golfer. He was a Charter member of the Kern Kiwanis Club of Bakersfield. He was instrumental in establishing Bakersfield Christian High School, and he was very active in Christian Business Men’s Connection. John had a great love for God, Family, Country and Community. John is survived by his children: Patti Gay, Bonnie Wellman and her husband Paul, Midge Jimerson, Jay Boydstun and his wife Sherry; his grandchildren Tricia Gay-Woodruff, Nicole Gay-Woodruff, John Jimerson and wife Stephanie, Kristen Tubbs and husband Tracy, Jason Jimerson, Chad Wellman and his wife Nichole, Bryan Boydstun, and Breanna Boydstun; his great-grandchildren Jeremy Bivens, Rachel Jimerson, Nicolas Gay-Woodruff, Taylor GayWoodruff, Adah Gay-Woodruff, Cameron Sweeny, Aubrey Wellman and Tessa Tubbs. John is also survived by his sister-in-law Shirley Lusich and her husband George, as well as many nieces and nephews.

John Boydstun Celebration of Life Luncheon

BAKERSFIELD REALTOR® MAGAZINE

GLEANERS fight hunger in KERN COUNTY

any of our members believe that serving is a vital role in our community, so we have created many opportunities through many of our committees. There’s Bringing Home the Cure, which holds fundraisers to help in the fight against cancer; Sally’s Place, which feeds the elderly and in-bound seniors of Kern County; and then there’s the Golden Empire Gleaners. We have been a strong supporter of the Golden Empire Gleaners for over 50 years, whether it be through can drives or fundraising events. The idea of partnering with the Golden Empire Gleaners was born from the Association’s mission and desire to serve the community and help those in need. It’s an opportunity to make a difference in a meaningful way. It’s all about giving back to our community! Watch out for information about upcoming Golden Empire Gleaners Fundraising events. We look forward to your participation! About Golden Empire Gleaners In February 1985, a Bible study group of four men reflected on the goodness that The Lord had brought to their lives and the debt of gratitude they felt. They were inspired to do something in return. Their vision was to glean from local farms and fields the estimated 300 million pounds of food that was going to waste annually and establish a neighborhood food pantry from which food could be distributed to the needy. A site was found and leaders stepped forward to purchase a warehouse. The Gleaners

BAKERSFIELD REALTOR® MAGAZINE

organization had quite miraculously become operational within 6 months of the group’s humble idea. By the end of 1985, over 75,000 pounds of food had been distributed. The original warehouse was located at 2030 14th Street, Bakersfield. In 2000, the Golden Empire Gleaners relocated to its current location at 1326 30th Street, off the Garces traffic circle in Bakersfield. Throughout its 26-year history, the Golden Empire Gleaners has fed millions of Kern County residents. Currently, the Gleaners averages serving 18,000 people per month. Golden Empire Gleaners’ mission is to help alleviate hunger and provide food for needy persons of all ages in Kern County. They accomplish this by collecting and distributing food and agricultural products that might otherwise go to waste. Through the help of referring agencies, they are able to distribute food to needy children, senior citizens, families in crises, people who are ill, disabled, homeless or unemployed, and others determined by the Board of Directors to be eligible. They accomplish this through the following programs: n Affiliated Agencies – Serves over 100 churches, missions and shelters. n After School – Serves 30 after-school and summer programs providing snacks for

participating students. n Food for Thought – Serves families of school children at over 115 participating schools. n Harvest Time Agencies – Serves over 70 government agencies and non-profit organizations who identify those in need of emergency food. They also include an opportunity to “Volunteer for Food”. n Senior Sack – Serves low-income seniors at 24 sites that include churches and community senior centers. The Golden Empire Gleaners is a private, food bank that is run by only two full-time employees and hundreds of volunteers. They are a 501(c)(3) non-profit organization that is debt-free and receives no government assistance. The work of the Gleaners is supported by generous local businesses, organizations and individuals who share their goal of eliminating hunger in our community. If you’d like to give back to our community and join a committee, contact Cindy Kiser at 661.635.2315. Even if you are unable to volunteer your time, you can always participate in any one of our task forces, or even just provide resources for any of our hosted events or fundraisers. Monetary donations are always welcome. SOURCE: wwwgoldenempiregleaners.com

Team Bringing Home the Cure (BHC) continues to give of their hearts in the fight against cancer

Team Bringing Home the Cure was formed in 2013 by The Bakersfield Association of REALTORS®, consisting of a group of passionate REALTOR® and Affiliate members dedicated to the fight against cancer. Our main fundraising event, the Wine Tasting/ Auction was brought to us after four successful years led by the Coldwell Banker team. We have continued along this path, each year gaining momentum and new ideas resulting in a donation this year of almost $90,000. We plan to exceed that in 2017 with the help and support of the Bakersfield community. “I am confident our goals will be reached” says Debi Roberson, 2017 Bringing Home the Cure Co-chair. The American Cancer Society’s Relay for Life is so much more than one annual event. It is a continuous journey of research for finding cures, education, prevention, early detection; and, of course, support and services for patients and loved ones battling this horrific disease. The Kern County Cancer Fund is an organization devoted to providing financial support to cover insurance, pharmaceutical and patient treatments to Kern County residents undergoing cancer treatment. Roberson states “If I have learned anything over the years living in Bakersfield, it is that

2017 Bringing Home the Cure Leadership Team. (l-r) Michele Cooper, Vice chair; Ronda Newport, co-chair; and Debi Roberson, co-chair this is a very caring and giving community. It seems all one has to do is express a need, and neighbors and friends are lined up to help in whatever capacity”. When thinking of the enormous challenge and billions of dollars necessary for the research in finding a cure for cancer, it is common to wonder ‘how significant can one person’s contribution be in that journey’? Well, to celebrate a holiday with your family one more time, attend a grandchild’s sporting event one more time, to share a cup of coffee with a friend one

more time… it is everything! Team Bringing Home the Cure is gearing up for 2017. Our first official meeting and open house was held on The most September powerful weapon 21st. We on earth is the already have human soul on fire! a great team –Field Marshal Ferdinand Foch assembled, but we need you! Together we are a powerful source and we will not be stopped short of our goal.

BAKERSFIELD REALTOR® MAGAZINE

CONTINUED FROM PAGE 11

unless the lien is paid off before the close of escrow. This will limit the buyer pool because Fannie Mae and Freddie Mac guarantee approximately 60% of all mortgages. Reality No. 5: Limited mortgage options can create an unfortunate ripple effect. If fewer people can buy property, it may take longer to sell. The longer the house sits on the market, the less desirable it may become, which could result in a lower sales price. As many home sellers in Kern County have discovered, these realities cannot be ignored. The bottom line is this: Are the risks and pitfalls associated with PACE liens worth it? That’s a question that all homeowners in Kern County must answer for themselves, but REALTORS® must be educated and knowledgeable regarding the PACE program in order to best serve their clients. Please contact Kim Schaefer for additional information and additional resources

regarding PACE financing. Members are also encouraged to share their experiences with PACE financing in their transactions. CALIFORNIA POLICIES AND REQUIREMENTS TO TAKE EFFECT - YOU NEED TO KNOW! SB 407- California law requires property owners (for properties built before 1994) to install water-conserving plumbing fixtures by 2017 for single-family properties, and by 2019 for other properties. Additionally, if a property is altered or improved after 2014, then water-conserving plumbing fixtures must be installed as a condition of final permit approval. In 2012 the Transfer Disclosure Statement (TDS) was expanded to include a check box for water-conserving plumbing fixtures. As explained in the TDS itself, the check box does not create a point of sale requirement. Beginning in 2017, a seller of a singlefamily property will also be required to disclose whether the property is in compliance with the law. This same disclosure requirement will apply to other types of properties beginning in 2019. Even then, the law creates no point of sale requirement. Beginning January 1, 2017, all single family property owners will be required to replace non-compliant plumbing fixtures with water-conserving fixtures regardless of whether any improvements are made and whether or not the property is being sold. Beginning January 1, 2017, a seller of a single-family property must disclose in writing to the buyer the requirement of water-conserving fixtures and whether the real property has any non-compliant fixtures. This same disclosure requirement will apply to other types of properties beginning in

2019. Even then, the law creates no point of sale requirement. However, if you do any improvement requiring a permit after January 1, 2014 on a single-family property, the permit will not be issued unless all non-compliant plumbing fixtures have been replaced with waterconserving fixtures. For complete detailed information, legal definitions and FAQs, please visit the Bakersfield Association of REALTORS® website at www.bakersfieldrealtor.org. AB 885 - Policy for Siting, Design, Operation and Maintenance of On-Site Wastewater Treatment Systems (OWTS) that was adopted June 19, 2012. The policy establishes a statewide, risk-based, tiered approach for the regulation and management of OWTS installations and replacements. This policy became effective statewide on May 13, 2013. The new regulations will govern both new and repaired systems and will also require periodic inspections of existing OWTS. In the County of Kern, there are areas where OWTS installations could pose a threat to groundwater and public health due to high groundwater, shallow bedrock, proximity to waterways, or other soil conditions. If the current OWTS is functioning properly, there are no immediate impacts to the property owner. Properties within the county that do not meet the new OWTS standards may have advanced treatment options available. The Kern County Environmental Health Department has held OWTS workshops throughout the county to advise OWTS owners of the new regulations and the importance of maintaining their OWTS to avoid costly repairs, but many are still unaware.

Welcome, New Members!

SUCCESS

Your journey as a REALTOR® has just begun in making a positive impact in the lives of families in our community

realtors ® august

realtors ® september

CONGRATULATIONS TO OUR NEW REALTORS® AUGUST: Mayra Anthony,

Watson Realty ERA; Maria Galvan, D’Angelis Realty; Sandra Hartsock, Scott Rivera Real Estate Team; Jacqueline Sorensen, Miramar InternationalMarket Place; Moises Arellano, Performance Realtors, Inc.; Roberta Sousa, Scott Rivera Real Estate Team; Harjeet Sidhu, Bluehorse Real Estate, Inc.; Angelita Ayon Fernandez, Miramar International Downtown; Megan Erberich, Platinum Real Estate, Inc.; Ashley Knudsen, Clemmer and Company Real Estate; Eric Powers, Watson Realty ERA; Jonathan Guerrero Silva, Miramar International Downtown; Christine Cofield, Greene & Greene Corp.; Jennifer Martinez, Miramar International; Justin Kitchen, Kitchen Real Estate Services; John Sanchez, Century 21 Tobias Real Estate; Wina Gill, Keller Williams Realty; Galina Egorova-Williams, Keller Williams Realty; Flor Rios Ventura, Stratton Davis Realty; Michael Williams, Marcom Real Estate; Charlene Oliver, BMC Realty Advisors, Inc.; Brent Peterson, Miramar International; David Bernal, RE/MAX Golden Empire; Avtar Singh, Hero Real Estate, Inc. SEPTEMBER: Georgina Ayala, Miramar International-Panama ; Michael Bader, Trahan Properties; Jatinder Bassi, Keller Williams Realty; Maria Benetiz, Stratton Davis Realty; Michele Cooper, Karpe Real Estate Center; Sophia Cummings, Miramar International-Downtown; Brian Dandy, Kelly Real Estate; Blas Galvan-Cardenas, Coldwell Banker Preferred, CO; Mychal Gonzales, Bluehorse Real Estate, Inc.; Jacqueline Kelly, Miramar International-MarketPlace; Alfredo Lorenzo, Solutions Realty, Inc.; Daniel Mckeel, Stratton Davis Realty; Jesus Mora, Performance REALTORS®, Inc.; Kyle Morgan, Miramar International-Downtown; Glenda Padilla, Miramar International-Downtown; Annette Pounds, Destiny Real Estate; Brandy Sampson, Destiny Real Estate; Jean Silva, Watson Realty ERA; Frank Stout, Coldwell Banker Preferred, Ming; Linda Stowe, Kelly Real Estate; George Thomas, Watson Realty ERA; Rachelle Weiss, Keller Williams Realty

Women’s Council of REALTORS® Bakersfield Chapter

Career Professionals Committed to Success

he Women’s Council of REALTORS® is a nationwide organization of 12,000 real estate professionals, both women and men who are some of the best and brightest in the business. The purpose of the Women’s Council of REALTORS® – California is to support local Network excellence in serving the members and to develop strong leaders for the Council, the profession and the community and to support the Mission and Vision of the Women’s Council of REALTORS®. Currently the Women’s Council of REALTORS® is the 12th largest U.S. women’s professional organization and has one of the most successful communication networks in the National Association of REALTORS® family. State chapters include real estate professionals who support the objective of the Women’s Council and are interested in serving the industry, the community and fellow REALTORS®. Bakersfield is an ever-changing marketplace with low inventory, frustrated buyers and multiple offers. The value of networking and knowing your fellow REALTOR® is vital to getting offers accepted and completing a successful transaction.

About Women’s Council of REALTORS® (WCR)

MISSION: A network of successful REALTORS®, advancing women as professionals and leaders in business, the industry and the communities they serve. PROFESSIONAL CREDIBILITY Members of the WCR are career professionals. They operate based on a shared value system of integrity, respect, consistency and a commitment to excellence and continuous development. THE POWER OF RELATIONSHIPS Success in business today is achieved through positive, productive relationships. The WCR provides an environment of collaboration in which members can form, build and maximize relationships for business and personal

BAKERSFIELD REALTOR® MAGAZINE

The Women’s Council of REALTORS® is a dynamic, accessible network, linking resources and member expertise to drive business success. Women’s Council identifies, builds, supports and promotes its members to grow strong leaders for the real estate industry and the broader community. The Women’s Council of REALTORS® is looking forward to new and exciting things

in 2017. Our luncheons will be held every 3rd Thursday of each month at Stockdale Country Club from 11:30am - 1pm. Mark your calendars and join us every month for a dynamic time of networking, linking resources and supporting one another. For more information, contact Michele Cooper at mcooper@sjvalleymortgage.com or call her at 661.900.2358.

Local WCR Board Members, (l-r) Ashley Weaver, 2016 WCR President; Ronda Newport, New Membership; Chasity Goodson, Hospitality; Debi Roberson, Parliamentarian; and WCR President Elect, Michele Cooper.

success. When members share their time, talent and experience, the industry is advanced. LEADERSHIP Every business, industry and community must have leaders who can see change that is needed, organize resources, and engage the hearts and minds of those around them. Through the WCR, members develop and apply new found leadership skills and qualities across all areas of their personal and professional lives. DIVERSITY The Council member network is enriched through the celebration of and active outreach to the full diversity of the industry. At the same time, the strength of the organization lies in what unites all members – shared values. INVOLVEMENT Active participation increases membership value. Every member can learn something

from every other member. When members participate and share their experience and ideas, an exchange of value occurs that is one of the principal benefits of Council membership. Participation in the WCR is the opportunity to contribute to change, and to be changed, personally and professionally. SUCCESS Success in business brings credibility, influence and greater opportunity. Wealth creation through business success leads to long-term financial security, greater independence and more quality of life choices. INFLUENCE Positive change comes from greater inclusion of women’s perspectives in positions of influence in the real estate industry and in the broader community. SOURCE: www.wcr.org/about-us

YPN continues

to grow leaders contribution by

SCOTT KNOEB

2017 YPN Chair Frontier Real Estate Services, Inc.

ABOUT YPN The Young Professionals Network is a group of REALTOR® members who stay informed and involved through networking, not only with other young professionals, but with leaders in the community. As up-and-coming leaders, they are the future of our industry. Young professionals aren’t defined by age, but by mind-set. A group of members who are interested in enhancing the future of our community with giving, participating and influencing those around them, with camaraderie by building a solid network that will last a lifetime. They work hard, have fun, technologically savvy, and get involved in our industry and community. The year 2016 was our best year yet; and, 2017 is already coming together with much to offer. With over six Lunch-&-Learn Classes, two Mixers, a Softball Tournament, and a trip to the 31st C.A.R. Legislative Day, 2017 is going to be a year you don’t want to miss. To make sure you’re a part of these amazing events, look for the YPN’s yearly calendar, which will be coming out at the end of this year”. The Association has many objectives for our YPN. We give newer REALTORS® the opportunity to learn about their business and industry. With every event, we provide

n REALTOR®, Frontier

Real Estate Services, Inc. n 2016-2018 Director, Bakersfield Association of REALTORS® n 2016 Orientation Committee Chair n 2016 YPN Advisory Vice Chair n Pro Standards Committee n Technology Committee Member the ability to network with both new and experienced REALTORS®. Also, we have been given the task of bringing up future leaders of tomorrow. With the average REALTOR® being 56 years of age, it is our responsibility to make sure we give proper leadership training so our YPNers can have the ability to take on leadership positions vital to our organization. These positions include the highest levels on our Local, State, and National Association. With three YPNers already serving on our local Board of Directors and two of them also involved with

the State and National Associations, we are doing just that! Our local YPN has overcome many obstacles since we started over 5 years ago. However, we still have a long way to go. Our YPN has two parts, the YPN Network and the YPN Advisory Committee. So, if you are a young professional, new to the business or just young at heart, we want you to be a part of our Young Professionals Network. Whether you have an interest in serving on our Advisory Committee or just simply come to our events, we have a place for you! Please feel free to talk to any of our amazing staff at the Association or any of the Advisory Committee Members on how to get involved with YPN. We are all more than happy to help you. The Young Professionals Network (YPN) is honored to announce our new Advisory Committee Members! Elizabeth Jimenez, Nick Megazzi, Michelle Valverde, and Adam Walters. The passion and dedication these new members bring to the Advisory Committee will certainly help us raise the bar for our YPN. I would also like to say thank you to all the returning Advisory members. Carlos Padilla - Vice Chair, Ashley Weaver, Derek Sprague, Aileen Saucedo, Frances Alindajao, and Nik Boone. Lastly, I want to say thank you to all the members and Board of Directors of the Association. Without your continued support and leadership mentoring, we would not have the tools to succeed! BAKERSFIELD REALTOR® MAGAZINE

22016 016

AS SOC IATION

H IG H L I G H T S

YPN Softball

A N D

CEL EB R AT IO N S

MLS Open Forum

This committee has already proven to be valuable to all of our members. The forum engages our MLS participants and subscribers for educational purposes, sharing information and obtaining feedback regarding ways to improve our MLS services.

A day filled with friendly team rivalry and fun for everyone Members pulled together to make the Annual YPN Softball Tournament a home run. It was a fun-filled day with a bit of friendly rivalry between members at the Mesa Marin Sports Complex. This year’s coveted trophy was won by the Miramar International Team.

Career Booster

The Education Committee gathers some of our very own superstars. It’s always a great opportunity to sit down with some of our heavy hitters who are more than willing to share their experiences, describing what made them successful in a very unpredictable industry. It’s about providing courses that will assist members in maximizing their ability to successfully conduct their individual businesses.

Education

Fight Against Cancer

CODE OF ETHICS REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time within 4-year cycles. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®. This is why we had Joe Newton, Ombudsman teach the NAR Quadrennial Code of Ethics Class each month in 2016.

TEAM BRINGING HOME THE CURE Each year our members come together to raise funds and awareness to save lives from cancer. Our fundraising event was an entertaining evening of wine tasting, food and entertainment. The committee and leadership, Ronda Newport and Debi Roberson, raised almost $90,000 for the American Cancer Society and Campout Against Cancer.

YPN

Our YPNers are tomorrow’s leaders today. They have hosted many lunchand-learns and mixers so that they can proactively help and engage our younger REALTOR® members to excel in their careers. They also encouraged other YPNers to participate in Legislative Day activities in Sacramento.

Scholarships

Our Association champions the pursuit of higher education, and in 2016 we granted scholarships to eight applicants. The 2016 recipients were Allessandra Castaneda, Hannah Cooper, Matthew Dobbs (not pictured), Madeline Duran, Ioannis Exarchoulakos, Colton Nichelson, Lexi Ontiveros and Brandon Wright.

Education

Besides our local experts speaking at Career Booster, there were some great speakers and topics brought in by this committee, like RPA-CA Contract and 39 Standard Disclosures Courses with Joel Carlson; Nabil Captan’s Credit Workshop; Kelly Clark’s Tax Strategies Session; REALTOR® Safety; a Transfer on Death (TOD) Workshop, and so much more.

F RO M

O UR

VARIOU S

This is our 55th year and we’re still going strong on the golf course. Our annual golf tournament is one of our biggest fundraising events, generating thousands of dollars for deserving charities. Last year’s Helicopter Golf Ball Drop was a huge success with $100,000 winner Brian Bur. It’s a full day of fun and a great tradition of giving back to our community. This year we will be giving to the Ronald McDonald House, REALTOR® Family Relief Fund and the Bakersfield Association of REALTORS® Charitable Foundation

C O MMI T T EES

Judy Miller organizes monthly fellowship, worship along with many great speakers. The CREF comes together to encourage and to be encouraged by others, often listening to testimonies of faith. Always set in prayer, with a little worship music to begin the fellowship.

Membership Development – Orientation

It’s our annual 55th-Year Golf Tournament and it’s still going strong on the golf course. One of our biggest fundraising events, this tournament generating thousands of dollars for deserving charities. It’s a full day of fun and a great tradition of giving back to our community. This year’s proceeds will benefit the Ronald McDonald House, the REALTOR® Family Relief Fund, and the Bakersfield Association of REALTORS® Charitable Foundation.

They promote the benefits of diversity and inclusiveness within our organization and community which include outreach activities and initiatives which address our multicultural community and real estate market. This year we partnered Boys and Girls Club of Kern County.

EV EN T S

Christian Real Estate Fellowship

Golf Tournament

Equal Opportunity and Diversity

A N D

Membership Development/Orientation Seeks ways to enhance the value of membership and plans, and conducts orientation classes every month at the Association. This class is invaluable to new REALTORS®, taught by many of our seasoned REALTORS®, including our own Ombudsman

Attendance & Reception This committee is invaluable to our members. They always work behind the scenes, but you might see them nowand-then at some of our events checking everyone in, or even selling raffle tickets. They’re wonderful at creating decorations for some of our many fundraisers. Their great talent shines every Christmas as this committee decorates the office each year.

Wool Growers

Our Affiliates meet at Wool Growers for a family-style lunch with our friends and colleagues. It’s always a great turnout and huge success as REALTORS® and Affiliates come together to share a meal over friendly conversation, and well, maybe a little bit of business, too!

REAAC

Protecting the consumer They started as a committee, but are now a coalition! REAAC is a collaboration between the District Attorney’s real estate fraud unit and Bakersfield real estate professionals. REAAC members help identify new and old types of fraud and scammer tactics, and educate the public on how to contend with these tactics.

Review RGR Government Advisory Council Advocacy is key! Get involved — make a difference!

We had a number of speakers this year brought to us by Kim Schaeffer, our GAD. Our guest speakers were very informative about political issues affecting our business and community.

Technology Training With regular TUG (Technology Users Group)

classes, REALTORS® are learning how to connect! Thanks to Derek Sprague, our (TUG) Committee Chair, members have attended several hands-on demonstrations on iPads, laptops, and mobile devices. Classes included training in zipForms, RPR, ZipLogix, Digital Ink and more. We can’t wait to see what new technology teachings the TUG Committee will bring in 2017!

embers of The A Team! Collectively, these individuals form a group of loyal, hardworking Affiliate members who serve the Association in a variety of ways. Over a long period of time, they consistently: n Attend activities and events such as MLS Open Forum, Commercial Investment and more. n Volunteer their time and energy to support the Association’s programs and activities. n Promote Association activities to other members. n Contribute raffle items and door prizes, as well as sponsor various programs and special events. For all their efforts, A Team Members earn these opportunities: n Featured in all issues of Bakersfield REALTOR® Magazine. n Complimentary advertising through The A Team contact list on the Association website. n Complimentary recognition on the Association Reception TV. n First opportunity to sponsor key events with sponsor banner. If you’re interested in becoming a member of The A Team contact Barbara Wells, our Affiliate Chair!

THEATEAM SHERYL GALLION Ticor Title 661.342.7802

sgallion@ticortitle.com

SUZI BEATY

Fidelity National Home Warranty 661.477.3906

suzi.beaty@fnf.com

MICHELE COOPER

Barbara Wells San Joaquin Valley Mortgage bwells@sjvalleymortgage.com 661.703.2227

Affiliate Vice Chair San Joaquin Valley Mortgage 661.900.2358 sjvalleymortgage.com mcooper@sjvalleymortgage.com

MIKE GEORGE

Agape Mortgage 661.324.2427

mikegeorge@agapemtgco.com www.agapemtgco.com

JANETTE RAMSEY

Janette Ramsey Insurance 661.328.9250

Over the years we have developed a special partnership with our Affiliates in Action who have given so much to our members!

LISA HOOK-ESTES

The Mortgage House 661.832.4100

lhook-estes@themortgagehouse.com www.themortgagehouse.com

CHEREYL NUNN

Wells Fargo Home Mortgage 661.664.5300

janette@jramseyinsurance.com www.jramseyinsurance.com

chereyl.a.nunn@wellsfargo.com www.wfhm.com/loans/chereyl-nunn

JEFF AGUILERA

CANDICE CRISWELL

cornerstonemortgage.com jeff@csmbakersfield.com

candice.criswell@homestreet.com

Cornerstone Mortgage 661.578.9259

HomeStreet Bank 661.489.6272

You can be a part of The A Team too! 22

Call Barbara Wells at 661.703.2227 for more information

BAKERSFIELD REALTOR® MAGAZINE

Procedures developed to avoid

A BREACH IN THE CONTRACT

contribution by

JOE NEWTON

ome home sales fall apart through the fault of no one involved. But if the buyer has actually breached the purchase agreement, the seller may have legal remedies. Read the contract carefully since there are limits as to what the seller may do and they are mostly written in the initial sales agreement. The Notice to Buyer to Perform (NBP) is used with the RPA to Joe Newton provide a notice to the buyer to either remove contingencies or complete required contractual obligations. It is divided into two sections. The first section is for the removal of contingencies. The boxes checked allow for single removal or the removal of all contingencies. The second section is used when the seller wants the buyer to take specific actions required by the contract. The NBP gives the buyer at least two (2) days, but in no case less than the time provided in the RPA, to remove the contingencies mentioned or take the contractual action asked for in the contract. If the buyer does not perform as properly requested after delivery of the NBP to the buyer or the buyer’s agent, the seller may commence to cancel the agreement. The contract is not automatically cancelled but must be followed with the C.A.R. form CC, Cancellation of Contract, Release of Deposit and Joint Escrow Instructions. A second remedy available to the seller (and the buyer as well) is to give the other party a Demand to Close Escrow (DCE) before either party has the right to cancel the contract. The DCE needs to be given at least three (3) days before the right to cancel becomes effective. When the time period specified in the DCE expires, the contract

is not automatically cancelled but must be followed up with the CC, Cancellation of Contract, et al. If the seller wants to cancel the contract, the most important consideration is to make sure that the cancellation is proper and effective. Rushing the process of cancellation may lead to a defective or questionable cancellation. The RPA gives exactly the reasons a seller may cancel. Refer back to the NBP for those contractual reasons that are listed by paragraph number in the RPA. Cancellation may also occur by mutual agreement of the buyer and seller. Other reasons to cancel may include fraud, mistake, duress, undue influence, illegality or any matter that prevents a “meeting of the minds.” The seller should be directed to consult with an attorney on these matters. Following is a checklist and procedure for canceling to better understand this process and when explaining it to a client. Determine the time frame to see if the buyer (or the seller) has performed as required by the contract. C.A.R. provides a graphic illustration of key timelines and events in a chart entitled “Timeline of Key Events Using the RPA-CA.”

Make sure the seller has fulfilled all seller’s obligations. This includes delivery of all of the legally-required disclosures and reports. It may include making the property available

2016 OMBUDSMAN REPORT JULY - AUGUST

161 calls were received by our Ombudsman

54 calls were grievance/ethics complaints against agents that were resolved n

2 grievance/ethics packages mailed out to complaining party n

52 calls requesting information on real estate procedures n

35 calls requesting information on deposits

1 anonymous calls

14 cases referred to Association mediation

3 Tehachapi calls

732 Year-to-date total

for inspection. Seller’s repairs are not required to be completed before buyer’s removal of contingencies. The EMD also should be deposited without any prior conditions to be met by the seller.

The NBP (or DCE) must be correctly filled out indicating what the buyer has failed to do, and the seller must sign it. A common mistake is to send over the Contingency Removal form, however, the CR form is not a demand and does not qualify as an NBP.

The NBP (or DCE) must then be personally received by the buyer’s agent (or the buyer) with some verification that it, in fact, was received. Email, US mail, fax, or otherwise, is possible, but it is recommended to use the same method of delivery by which every other document was sent. If the notice is met with complete non-response by the other agent, then send out the notice using several different methods concurrently which makes the agent’s claim of non-receipt less credible.

Count the days. The first day of receipt is day zero regardless of the time of day it is received. Day one starts tomorrow and may be a Saturday, Sunday, or a holiday. The final day cannot be a Saturday, Sunday, or a holiday.

The day after the last day to perform, the seller may then sign and deliver a cancellation using the form Cancellation of Contract (Form CC). Cancellation is a unilateral act regardless of whether there is an open escrow. Escrow may require signatures from both parties to cancel the escrow, but the fact of an escrow being open does not affect the validity of the seller’s cancellation. Nonetheless, an unresolved escrow cancellation may create difficulties or even roadblocks to the seller in reselling and closing on a second escrow. In this case, the seller should be advised to seek the guidance of an attorney. C.A.R.’s Member Legal Hotline is available to any member seeking specific legal advice on this and other matters. BAKERSFIELD REALTOR® MAGAZINE

Why the Bubbles AREN’T BURSTING STEVE COOK

REALESTATEECONOMYWATCH.COM

As robust demand and tight inventories drive up home prices at double-digit rates in dozens of hotter markets, warnings of local bubbles again are making headlines. Should we be afraid? As prices rise faster than incomes, some forecasters are raising fears that the crash of a decade ago may repeat itself on a local basis in metros like Denver, Seattle, Miami and Portland. The housing bust nine years ago reached catastrophic levels because millions of owners simply could not afford their mortgages. Recent reforms ended the risky and fraudulent lending practices responsible for many of the bad loans made during the boom. Though tougher underwriting standards and new ability-to-pay requirements protect consumers from a repeat of the 2007 bust, bubbles are still theoretically possible. SKIMPY INVENTORIES There’s no doubt that today prices are outstripping income levels in many markets, especially on the West Coast, yet there seem to be no short term consequences. The primary brake on sales in the hottest markets is not rising prices, but skimpy inventories. If local buyers cannot afford rising price levels, why does demand remain strong? Why isn’t the law of supply and demand slowing down demand and cooling off prices? If bubbles are forming, why are there no busts? New research suggests that the reason for the disconnect between demand and prices is that simple ratios of income levels to prices do not paint a complete picture of buyers’ ability to afford to buy homes. A study by three Belgian economists scheduled to be published later this year by the Journal of Housing Economists found that, since most buyers finance their purchases over 15 or

BAKERSFIELD REALTOR® MAGAZINE

30 years, factors that have nothing to do with either income or prices significantly increase buyers’ ability to pay. Specifically, the greatest factors that increase buyers’ ability to pay for homes are the mortgage interest deduction and declining mortgage interest rates. VALUE OF MORTGAGE INTEREST DEDUCTION The economists calculated and compared the value of the mortgage interest deduction and interest rates to buyers’ ability to pay in the United States, the United Kingdom, Belgium, the Netherlands, Sweden, Norway, Finland and Denmark. Three of the nations studied allow a tax benefit for mortgage interest — Belgium, the Netherlands, and the United States. The study found that in the United States, a 1 percent increase in mortgage rates from 3.5 percent to 4.5 percent decreased borrowers’ ability to pay by 7.21 percent and decreased demand enough to lower house prices by 8.61 percent. Abolishing the mortgage interest deduction (MID) would reduce borrowers’ ability to pay for their homes by 17.65 percent and would lower house prices by 19.94 percent. “Although the price-to-income ratio is a commonly used measure of housing market imbalances at many policy institutions, income alone seems insufficient to explain the evolution of house prices. As unsustainable house prices may raise concerns about financial stability, it is important to understand the factors behind the evolution of house prices. An important element is that the budget constraint depends on mortgage characteristics and the MID. An additional borrowing constraint and market clearing result in a relationship between house prices and a measure of the amount that households are able to pay,” concluded Sven Damen, Frank Vastmans and Erik Buyst, economists

based at Center for Economic Studies, at KU Leuven, Belgium. Impact of Other Incentives The study did not look at the impact that other incentives may have on increasing buyers’ short-term ability to pay, especially low or no down payment mortgages. Clearly, lower down payments make it easier for buyers, especially among first-time and lower-income buyers, to buy homes. Programs like FHA stimulate demand, especially for lower-tier, affordable properties which already are in short supply. The impact of low down payment loans may be huge; they are used so widely today that the median down payment paid by first-time buyers last year was only 6 percent compared to 14 percent for repeat buyers, according to the National Association of REALTORS® 2016 Buyer and Seller Report. Buyers’ ability to pay for long-term mortgages is not a simple relationship between income levels and home prices. Other factors, including incentives like the mortgage interest deduction and low down payment loan programs like FHA, are the result of public policies set by the federal and state governments. Mortgage interest rates, to the extent that they are shaped by decisions of the Federal Reserve, also reflect decisions by policymakers. Changes in these incentives increase or decrease buyers’ long-term ability to buy homes as much or more than short-term changes in the home price to income ratio. Elimination of the MID coupled with a one-point decline in rates, for example, would reduce buyers’ ability to pay for a home by nearly 25 percent and home prices would fall nearly 30 percent if the Belgian study is correct. If these incentives artificially encourage and sustain bubbles, ending them would certainly bring about busts. This article reprinted with the permission of RealTrends Inc. Copyright 2016

change Importance of Adapting to the

FUTURE OF OUR INDUSTRY

TRAVIS SAXTON

REAL Trends, Vice president of technology

REAL Trends recently attended the Better Homes and Gardens Real Estate event in Des Moines, Iowa, which was hosted, in part, by Meredith Corporation. We heard from Steve Lacy, CEO of Meredith along with Richard Smith, who shared the vision for the brand and the future of real estate. In 2016, after eight years of consistent growth, the brand decided to change one of its core values. Previously, their core values were PAIGE which stood for Passion, Authenticity, Innovation, Growth and Excellence. Now, they have changed Innovation to Inclusion. Why, after eight years, change something so ingrained in their business. Let’s take a deeper look at how this all started. Better Homes and Gardens magazine started as a farming publication that was sold door-to-door. Naturally, the sales folks rarely

encountered the man of the house at the time as they were farming. So, they needed to include and engage the significant other. Thus, in 1902, the magazine was retooled into today’s Better Homes and Gardens. For the next 114 years, they’ve continually adapted and included other demographics with publications such as Ser Padres, Espera and more. With Hispanic consumers, LGBT, Asian buyers and Millennials, the brand realized and took a PAIGE (pun intended!) from Meredith Corp.’s book and made the change. Inclusion is much more than selling homes to different demographics; it’s a global strategy that is the core of BHGRE. These fast-growing segments are accounting for nearly 50 percent of all real estate growth in the United States and is projected to be closer to 64 percent by 2020. They are on to something. When asked why they removed Innovation, we thought the answer was spot on. While

Sherry Chris is the key driver of this strategy, Steve Lacy and Richard Smith addressed this, as well. Innovation is all around us. You can’t go to the grocery store and not see examples of innovation. Even tech companies aren’t just tech companies anymore. Take Facebook — the brand they’ve built on the backbone of their technology is amazing, but in reality, they are an advertising company that happens to play in the tech industry. They will continue to innovate, and be mindful of their new core values. Now, don’t run off and change your core values. Instead, adapt to the times. Study your market, the trends, the consumer personas entering it and make changes accordingly. How is technology impacting these consumers, and how are you adapting to it? Forget status quo. With threats all around us, we need to be mindful, innovative and inclusive. This article reprinted with the permission of RealTrends Inc. Copyright 2016 BAKERSFIELD REALTOR® MAGAZINE

Be a Santa to a Senior this Christmas

Community News- East Bakersfield

National Grant to help with pocket park The Bakersfield Association of REALTORS® will use NAR grant funds to help with the Children First East Bakersfield Pocket Park. The Bakersfield Association of REALTORS® has received a $3,000 Placemaking micro-grant from the National Association of REALTORS® to help make the Bakersfield community a better place to live and work by transforming unused public spaces into vibrant community places. The grant from the National Association of REALTORS® is to help make the Bakersfield community a better place to live and work by transforming unused public spaces into vibrant community places, in addition to furthering their partnership with the Boys & Girls Clubs of Kern County. The grant is intended to help REALTOR® Associations partner with others to plan, organize, implement and maintain placemaking activities in their communities. The Groundbreaking of the East Bakersfield Pocket Park will be held on October 11 at 10:00am at 1511 Niles Street. Association Members are welcome to attend. The Bakersfield Association of REALTORS® and it’s Diversity Committee has partnered with Dave Whisler, owner of Primetime Signs to design and donate new signage for the Boys and Girls Club on Niles Street. That project is currently in the design phase and will be unveiled later this Fall.

ADOPT-A-SENIOR AT SALLY’S PLACE to share in the magic and joy of the holiday season. We’ll be accepting $10 donations which will be used to purchase gift cards for seniors It’s a great way to provide a nice Christmas for those less fortunate, home-bound or isolated seniors in our community. Funds will be given to qualified Seniors with annual income of no more than $11,025 – Individual; $16,800 – Couple.

Donations will be accepted at the Association or by any REALTOR® CARE Member until December 2nd

Working Late for your Real Estate needs! Specializing in right-of-way and land acquisitions for land developments, due diligence, mineral title reports, surface waiver acquisitions, and drilling island negotiations

Serving the West Coast since 1995!

O R E G O N

W A S H I N G T O N

Challenges in the Market Lessons remembered - learn from leaders where tomorrow’s opportunities and threats lie STEVE MURRAY REAL Trends, publisher

“The market in New York has changed significantly. Buyers no longer have the strong sense of urgency they had in the past few years. Sellers remain committed to high prices. The new challenge is getting them together on the pricing. Currently, many in both camps aren’t interested in helping the other party get to a solution. So, we have a time when sales may well slow down,” said Pam Liebman, CEO of one of the nation’s largest brokerage firms. Liebman has been CEO of The Corcoran Group since before the firm was sold in 2001 and has engineered its rise to a firm six to eight times larger than it was when it was purchased from founder Barbara Corcoran in 2001. She retains great enthusiasm for her sales associates and for what they have yet to achieve. The firm has expanded beyond its New York City footprint and has operations in South Florida and on Long Island in the Hamptons, where many of the firm’s clients have second homes. Love of Company “I think that my love for our company and business is founded on a few things. First, I have a great management team that allows me to do what I most love to do — visit our agents in the field and work closely with our developer clients. I still love that part of the business,” she said. “When you have a great team to run the day-to-day facets of the business, it allows me to focus on agents and what’s happening in the market. For me, that is fun.” She also said that she “enjoys our agents and listening to them. I try to anticipate

what they need from us. Do they need better marketing? Are they having technology or operational issues? I think that people running a brokerage business need to stay as close to their agents as they can. It makes it all real.” Gauging the Competition Finally, she said, “Having a great team allows me to keep tabs on what’s going on with our competition. There are always new guys trying to do something new and less expensive. In our markets, new model competitions seem to arrive almost every month. Most don’t make any real difference in the market, although some disrupt the market without really changing how the market works. My view is that CEOs have to gauge what is going on in the market with competition.” Agent Brands and Technology We asked Liebman what has changed the most in her career. “One thing that has changed is the growth in agent brands. With the explosion in television shows based on top agents across the country, it seems like a growing number of agents are building their brands. Another issue is the rise of technology as a driver in how agents do business. When you think about mobile devices and online access to almost everything, including the processing of transactions, it’s

made agents flexible concerning when and where they can work. In the last 10 years, we’ve seen an explosion in this trend. We have to tinker with the suite of services we offer our agents, not just in technology, but in every area of our business.” Still About Relationships Liebman said, “It seems that we remain a relationship business. Relationships with our agents and leaders, as well as between agents and their customers. For example, while we are studying the growing trends of online reviews and ratings, most of our agents tell us that in New York, almost all of their business is still based on knowing people or having friends and associates refer them to clients. Reputation still matters in our markets both here and in Florida.” She added that she thinks agents today are far more business oriented than in the past. They work smarter and more efficiently. “I’ve always believed that a great agent is vital to anyone buying or selling a home. They have to be, because buying and selling a house is much more complicated than it used to be.” One thing is for sure — this is one CEO who hasn’t lost her passion for what she’s doing and seems determined that her company’s future will be more successful than its past. This article reprinted with the permission of RealTrends Inc. Copyright 2016

2 0 1 7 C O M M I T T E E S AT A G L A N C E

ver the years, our members have developed a rich culture of volunteering in our community,

as well as at events and fundraisers hosted by our Association. Many have learned over the years that it is very fulfilling and rewarding to give back to our community. So why not take a leap of faith and volunteer as a member on any one of our committees?

SERVE 2017 Oversight Officer

Wayland Louie Director

Each committee gives back in a

REALTORS® CARE l Bakersfield Association of REALTORS® Charitable Foundation, Inc. l Diversity & Equal Opportunity l Sally’s Place l Golf Tournament l Bringing Home the Cure: v Campout Against Cancer v Relay for Life v Wine Tasting Event

variety of ways; some give back directly to the community through fundraisers for charitable organizations and some

ADVOCATE

committees share their knowledge and

2017 Oversight Officer

experience with their peers. There’s something for everyone…

Bill Redmond

we’re counting on your

Immediate Past President

help in 2017!

l RGR l LCRC

2017 Commitees Led by

MIdge Jimerson 2017 President

EDUCATE 2017 Oversight Officer

Midge Jimerson Vice President

ENGAGE

LEAD

2017 Oversight Officer

Kevin Palla Director

l Affiliates l Attendance & Reception l Brokers Forum l CPR l MLS Open Forum l YPN l Brokers Advisory Group

BAKERSFIELD REALTOR MAGAZINE ®

Bill Redmond President Elect

l Grievance l Leadership Academy l Professional Standards l Strategic Planning/Finance l Nominating l YPN Advisory

l Educational Events l Commercial Investment l Membership/Orientation l Technology

Join a committee today! Call Cindy at

635-2315

60% OF HOME SELLERS now save money on commissions Nearly half of buyers surveyed save on real estate fees. Sixty percent of people who sold a home in the past year got a discount on the commission they paid to their real estate professional, according to a survey of more than 2,000 people conducted in June by SurveyMonkey Audience and commissioned by Redfin (www.redfin.com). Among homebuyers, 46 percent said their sales associate gave them a refund or closing cost contribution of more than $100, with the average savings amount for that group being $3,693. Last year, 37 percent of buyers said they received savings from their agent worth $500 or more. “While market forces are driving home prices up, innovation is helping to drive commissions and fees down,” said Redfin Chief Economist Nela Richardson. “These survey findings suggest that the industry is becoming more dependent on technology

and less dependent on the local agent as the sole source of information about homes for sale. The fact that savings are so widespread indicates that agents and brokers are adapting by using technology to work more efficiently and charge less money.” Findings about for-sale-by-owner (FSBO) and other alternative approaches to buying and selling homes include: n A quarter of people who sold a home in the past year did so without the help of a fullservice agent: - 15% of sellers used a limited-service agent. - 10% of sellers listed their home without an agent’s help. This is slightly higher than the latest figure reported by the National Association of Realtors® that FSBOs accounted for 8% of home sales in 2014. n People selling million-dollar-plus homes were the most likely to use the FSBO approach, with 23% going that route. n More than half of people (54%) who sold

without a full-service agent did so to save money. For those whose homes sold for $750,000 or more, the most commonly cited reason was that they didn’t think a full-service agent was necessary (41%). n 16% of homebuyers bought without an agent’s help, little changed from last year. n 69% of survey respondents said they are open to an alternative to the traditional real estate service, up from 64% last year. n Asked about agent incentives, 52% of respondents said they prefer a purely commissioned agent. One-third of respondents dislike the idea of a purely commissioned agent. For the full report and methodology including more data and insights, visit: https://www.redfin.com/blog/2016/08/ survey-60-percent-of-home-sellers-are-nowsaving-on-commissions.html This article reprinted with the permission of RealTrends Inc. Copyright 2016 BAKERSFIELD REALTOR® MAGAZINE

Check us out!

We have restocked our store with lots of new items just for you. The 2017 Boss Planners are now in stock. Get yours today!

Hit Your Target Market!

You can’t miss by advertising with the Bakersfield Association of REALTORS®

Start marketing and promoting your company today with the Bakersfield Association of REALTORS®.

The Association has over 1,700 REALTOR® and Affiliate members. We offer many ways for you to actively communicate your company’s brand and marketing message directly to our members. Every week we host a variety of activities, classes, and events. Reach your target market in effective and affordable ways. Consider one of our many opportunities.

SPONSORSHIP OPPORTUNITIES: PRICES RANGE PER ACTIVITY n Newsletter n Educational

Classes

n Networking

Activities

n Community

Outreach

n Special

Events

FOR ADVERTISING INFORMATION OR AD SIZES, PLEASE CONTACT: Carol Duran at 635-2307. Communications Design and Development.

Call now at 661-635-2307

BAKERSFIELD REALTOR MAGAZINE ®

MEMBER RATES PUBLIC WEBSITE Member Advertising Rates Feature Ad (2 week period)

$200

Home Page (2 week period)

$150

REALTOR ® WEBSITE Member Advertising Rates Home Page Ad

$125/mo

Entire Site Ad

$85/mo

CONNECTIONS NEWSLETTER Eblast: Member Newsletter

1 time run

$60/blast

4x consec. run

$200/mo

CREATING

the value-driven organization Focus on the investments that give you the greatest return

LARRY KENDALL

AUTHOR OF NINJA SELLING & CHAIRMAN OF THE GROUP, INC.

“Our true worth

is determined by how much more we give in value than we receive in payment.” This is the Law of Value from Bob Burg and John David Mann’s book The Go-Giver, and it serves us well whether we are an owner, manager or sales associate.

Owners As an owner, adopt the mind-set of what we call Ninjanomics. There are four rules: 1. There are no expenses. 2. There are only investments. 3. Every investment must have a return on investment. 4. Focus on the investments that give the greatest return on investment. Don’t look at your employees, marketing or facilities as expenses. Instead, look at them as investments and expect a return on those investments. Invest in them and expect a return. If you aren’t getting a return, they are expenses, and there should be no expenses, only investments.

Managers As a manager, adopt the Ninjanomics mind-

set, as well. Your owner is investing in you, and you need to provide a return on that investment. It is how you make yourself valuable to the organization. Are you generating more gross commission income (GCI) in the form of referrals, builder accounts or relocation accounts than your salary? How about recruiting? Are you recruiting more GCI each year than your salary? How about coaching your sales associates to higher levels of productivity? Your true worth is determined by how much more you create in value than you receive in payment. In recruiting, sales associates are attracted by value. Can you articulate your value proposition? Typically, they value and are willing to pay money for two things: to solve a problem (pain); and to feel good (pleasure). Two great questions to discover their pain and pleasure are: 1. “What is your greatest challenge in your business right now?” (Solve their pain.) 2. “If you could wave a magic wand and have your business just the way you want it, what would that look like?” (Help them achieve their goal—pleasure.)

Sales Associates Unfortunately, there’s a group of customers who do not care about value. About 15

percent of the U.S. population make all buying decisions based on lowest price— period! They don’t care about value. As a sales associate, we recommend you let this group work with someone else. These customers tend to be grinders and will steal your time and energy as they try to squeeze every drop of money out of you and the transaction. Instead, focus your attention and marketing on the other 85 percent who value what you bring to the game. Learn to articulate your value proposition in just a few words. How do you create more in value for your customers than they are paying you? In my experience, most sales associates need help in this area. You bring tremendous value, but you may not necessarily know how to articulate your value to a customer —specifically to a seller who asks you to discount your fee. We’ll give you some tips on how to articulate your value proposition in next month’s issue. When everyone (owners, managers, sales associates, and staff) have the value creation mind-set and actions, your organization will attract and keep the best talent, the best customers, and be highly profitable as well. You have created a value driven organization. This article reprinted with the permission of RealTrends Inc. Copyright 2016 BAKERSFIELD REALTOR® MAGAZINE

Our Local

Housing

Market OVERVIEW OF PROPERTIES Area

Dollar Value

# Sold

Average Sold Price*

% of List Price*

DOM*

2016

2015

2016

2015

2016

2015

2016

2015

2016

2015

193

178

$31,375,342

$31,392,669

$171,402

$181,269

96.72

97.27

117

121

$11,316,547

$10,919,226

$99,639

$92,867

97.35

97.36

149

144

$24,164,105

$22,570,700

$162,175

$158,142

98.70

98.32

$5,627,240

$3,770,650

$342,765

$272,742

96.13

95.90

175

202

$25,034,157

$28,582,545

$143,127

$141,498

97.48

98.56

369

349

$65,512,554

$59,545,115

$181,261

$175,320

97.70

98.57

118

162

$26,145,873

$35,738,944

$227,817

$226,006

99.12

98.69

$21,160,742

$15,104,720

$313,430

$310,932

97.74

97.62

122

$11,712,000

$14,294,997

$132,886

$117,172

97.82

98.23

$13,217,606

$11,671,072

$167,084

$157,555

96.48

98.00

$1,377,125

$465,000

$153,014

$155,000

96.44

89.08

415

411

$63,003,738

$57,422,186

$156,168

$149,384

98.49

98.29

987

999

$201,122,293

$202,696,783

$216,362

$213,365

98.53

98.55

591

517

$193,366,320

$163,340,944

$330,581

$318,341

97.55

97.82

$2,484,990

$6,154,714

$621,248

$323,932

99.52

98.59

157

147

$41,277,758

$38,258,848

$263,832

$260,732

98.55

97.85

767

736

$229,945,175

$213,234,047

$299,857

$290,078

98.40

98.39

338

322

$119,905,872

$112,464,967

$356,543

$355,028

98.25

98.51

$3,528,900

$5,897,829

$374,544

$421,274

96.06

98.47

$22,231,019

$20,852,901

$249,900

$262,981

97.89

97.22

$2,079,000

$510,000

$231,000

$255,000

266

85.07

93.07

$814,340

$1,763,420

$89,543

$87,113

121

96.65

96.31

$5,135,035

$3,957,839

$169,859

$149,758

96.31

95.51

$1,824,900

$695,000

93.67

0.00

$1,903,000

$2,576,400

$348,600

$323,914

119

96.86

95.51

$6,143,640

$5,069,900

$139,613

$128,356

94.19

96.16

$1,946,000

$2,485,000

$389,200

$355,000

139

97.15

94.06

$72,000

$828,300

$72,000

$103,538

96.64

95.04

$1,620,000

$3,396,001

$193,167

$193,111

97.11

93.79

153

164

$28,388,232

$29,285,491

$185,544

$180,059

97.98

98.62

120

109

$14,366,279

$13,011,270

$119,692

$119,994

96.73

96.18

116

145

$20,983,495

$24,142,922

$180,892

$167,218

97.28

97.75

$25,045,077

$27,117,427

$305,796

$309,295

96.47

97.54

BAKERSFIELD REALTORÂ® MAGAZINE

* Figures from single family homes only. Statistics were run on September 15, 2016.

The numbers tell the story

2016 Compared to 2015 by MLS Area Active, Pending and Sold - All Areas

JULY 2016 – ALL AREAS

AUGUST 2016 – ALL AREAS

BAKERSFIELD

* Figures from single family homes only. Statistics were run on September 15, 2016. BAKERSFIELD REALTOR® MAGAZINE

Approaching Tech Trends with a MARKETING

PAUL SALLEY

REALTRENDS MANAGER OF MARKETING AND BUSINESS DEVELOPMENT

As technology trends change and new platforms emerge, there’s a constant adoption of and migration to different tech platforms. This holds true in every facet of technology, from operating systems to social media platforms. Digital marketing is no exception to the continually accelerated progress of technology. There are developments and updates to proven digital marketing platforms that make their capabilities more sophisticated and easier to gauge their success. There’s

also the emergence of new platforms. You must be tuned in to these new platforms and understand which audiences they are attracting and leverage them accordingly. For example, Snapchat, being a newer social media platform, pulls a different user demographic than Facebook and can be a potent tool in reaching Millennials as they enter the market. Understanding how Snapchat works is critical in leveraging its capabilities regarding digital marketing. Users can add filters to their pictures, and those filters are synced to their geographic location. These filters can be sponsored. Some proactive brokerages are already sponsoring

MINDSET

filters based on geographic location by promoting the lifestyle of the specific location. This is an inexpensive, forwardthinking method to tap into a new client base without any competition saturating the space. Approaching current technology trends and updates with a marketing mindset will allow your brokerage to stay relevant and in front of the competition with your digital marketing campaigns. For additional information on how to get started in digital marketing, or how to optimize your current campaigns, contact tech@realtrends.com. This article reprinted with the permission of RealTrends Inc. Copyright 2016

Christmas Membership

Mixer

A NIGHT UNDER THE LIGHTS

Thursday, October 20, 2016 6:00 pm – cocktail reception 7:00 pm – dinner & silent auction riverlakes ranch golf course 5201 riverlakes dr. Call Elissa at 635-2300

TICKETS: $75 ea or $1,000 A TABLE 34

BAKERSFIELD REALTOR® MAGAZINE

PRIVATE MONEY LOANS 100% PURCHASE MONEY LOAN PROGRAM* n No

Appraisal – Local n ITIN - OK n Quick Approvals n Close in Days, Not Weeks n Residential n Commercial/Industrial n Investment Properties n AG/Farm Land

*Call now for details on this blanket loan program

Anita Calvillo (661)

Mark Augustine

432.0258

(661)

706.0446

acalvillo@ valleymortgageinvestments.com

maugustine@ valleymortgageinvestments.com

CalBRE#01731835 * NMLS#287171

CalBRE#01875774 * NMLS#289612

BAKERSFIELD ASSOCIATION OF REALTORS®

IMPORTANT DATES

SATURDAY

Equal Housing Expo – Boys and Girls Club

THURSDAY

YPN Black Tie Gala

OCTOBER 15 OCTOBER 20 FRIDAY

OCTOBER 21 TUESDAY

OCTOBER 25 WEDNESDAY

NOVEMBER 2

Golf Tourn. & Commercial Investment Fall Career Booster YPN Lunch and Learn

TUESDAY

NOVEMBER 8 9 &

FRIDAY

NOVEMBER 11 TUESDAY

NOVEMBER 15

Transaction Coordination Cert. Course RPA-CA Contract & Disclosures

Legal Update with Gov Hutchinson

WEDNESDAY

NAR Code of Ethics – Joe Newton

WEDNESDAY

Economic Forecast: Leslie Appleton-Young

NOVEMBER 16 NOVEMBER 30

WEDNESDAY

YPN Lunch and Learn

WEDNESDAY

NAR Code of Ethics – Joe Newton

WEDNESDAY

Membership Christmas Mixer

DECEMBER 7 DECEMBER 14 DECEMBER 14

STHEADVATEES

lley Cour tesy of Va ents stm Mor tgage Inve

BAKERSFIELD REALTOR® MAGAZINE

Prsrt Std U.S. Postage PAID Bakersfield, CA Permit #70 GROWING A STRONGER COMMUNITY

THE BAKERSFIELD ASSOCIATION OF REALTORS® INVITES YOU TO ATTEND THE 2017

Inaugural Celebration happy Dinner & Dance honoring

Midge Jimerson January 20, 2017 Bakersfield Country Club

6pm: No Host Cocktails 7pm: Dinner and Program 9pm: Dancing Cost: $60 Cocktail / Formal attire Black Tie optional

S PO N S O R S H I PS A R E AVA I LA B L E – C O N TAC T C IN DY AT 6 61 . 6 3 5 . 2 31 5