Quick Links Top Sales & Closed Sales For the Week
Selma Hepp’s Blog
From Ed’s Desk Dear Marin Colleagues,
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Weekly Broker Tip
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The news of the real estate markets slowing down in California continues to be the top topic of discussion and the Marin market is no exception. What I can say is we have seen a good bounce to the positive in the past two weeks and pending units and volume for August have already surpassed total July closings. Multiple properties are in contract in all price points and all cities which is very good news for all of us. The question being asked by many is, are we seeing a decline in units or did we go through a temporary market pause? The answer is, “I don’t know.” We will continue to stay on top of activity in Marin and look for any developing trends or market changes. We will continue to discuss this topic at the next Estates Meeting August 7. The Fall market is coming fast and so are the new signed listing agreements. This week, Pacific Union launched “Private View” here in Northern California. There are currently 82 properties and $219,000,000 in inventory available to the public. Marin has 11 properties displayed which is the most for any region. Congratulations to those of you who have jumped on this incredible marketing opportunity. This feature is a powerful tool you can use in your listing presentations to demonstrate the ability to begin exposing and marketing the property day one the listing is signed. This is also a new way to market your off-market properties and allow a much wider audience other than Top Agent Network, which most realtors are not part of. I urge all of you to use Private View. If you have a property for Private View, please reach out to your staff and we will get it loaded for you. And a big congratulation to James Nead, Team Sterley, on his recent marriage. I wish James many happy and productive years. I know it is one of the best things I have done in my life. See you next Tuesday, August 7 at our next Estates meeting 9:30, Piatti’s.
License # 01866771
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MARKET SHARE Mill Valley
Novato
Belvedere
San Anselmo
Corte Madera
Greenbrae
Fairfax
San Rafael
Larkspur
Ross
Kentfield
Sausalito
Tiburon Marin County Market Share
CONCIERGE MARIN CONCIERGE TEAM
Lisa Srisavat
Megan Penna
Amy Bowes
Jerri Cohen
Joan Simone
Ashley Jennings
Chelsea Dederick Click here to submit your request
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Top Sale of the Week $3,000,000 206 Bayview Avenue, Belvedere
Bill Smith Listing Agents
Marin Stats For Sale vs. Sold
Weekly Market Update
Avg. Price Per Sq. Foot
Months of Inventory
Days On Market: Sold
Average Price For Sale vs Sold
Market Share By City
1974- 2017 Ave Sale Price
Open House Graph Source: Trend Graphic/Charts Bareis MLS (updated on the 6th of every month)
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Losses of Lower-Paying Jobs Drags Down California’s Employment Growth in June • The Golden State created 800 jobs (seasonally adjusted) in June, which is the lowest number since the recovery began in 2010 and follows an upward revision to 7,200 jobs added in May, according to the latest numbers from the state Employment Development Department. Nevertheless, notable losses in seven California industries dragged down the overall number of jobs added. Interestingly, industries with job losses generally employ lower-paid employees. The four industries that gained jobs added 16,200 positions, with half of them in education and health services, followed by information, government, and professional and business services. Among the seven industries that reported 15,400 job losses, the largest decreases were in leisure and hospitality; construction; trade, transportation, and utilities; and financial activities. Note that these industries have had some of the strongest job growth so far in 2018. In sum, while the overall number of jobs added appears low, the employment picture is very solid and suggests continued strong wage growth for California workers. • Over the year, California created 269,100 jobs, with nine industries adding a total of 272,800 positions and two industries losing a total of 3,400 jobs. The largest job gains were in educational and health services, up by 75,800 jobs; professional and business services, up by 42,200 jobs; and leisure and hospitality, up by 41,700 jobs. Other sectors that added jobs over the year were construction; trade, transportation, and utilities; government; information; manufacturing; and financial activities. Other services and mining and logging posted job declines. • California’s unemployment rate remained at a record-low 4.2 percent in June. Many metropolitan areas showed increases in unemployment rates.
Read more Here We encourage you to share Pacific Union’s daily blog posts via email, your own blog, or social media. All blog content is updated daily in VoiceStorm, which allows you to share posts to the most popular social networks with just a few clicks. Additionally, our team sends out a weekly Content Hit email each Monday, which contains everything you need to promote Pacific Union content on Facebook, Twitter, or your own blog. Check it out at blog.pacificunion.com
Weekly Broker Tip
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Sales of Property Held in a Trust PART 2: Disclosures DETERMINING IF A TDS IS REQUIRED: To understand whether or not the Trustee must complete the Real Estate Transfer Disclosure Statement (“TDS”) is not always easy. To better understand this issue, the historical perspective may prove to be useful. The original 1987 statute (Civil Code Section 1102.2) made ALL TRUSTEES exempt from completing a TDS. The statute was later modified to create an exception to the Trust exemption. The exception to the exemption was designed to require that some, but not all, Trustees fill out and sign the TDS when transferring the Property. It was the creation of this “exception” that leads to most of the confusion. As it is currently written, the Trustee exemption does not apply if “the Trustee is a NATURAL PERSON who is the SOLE Trustee of a REVOCABLE Trust and he or she is a FORMER OWNER of the Property or an OCCUPANT IN POSSESSION of the Property WITHIN the PRECEDING YEAR.” (Emphasis added.) To work through this muddled exception, it is easiest to ask four (4) simple questions. If all four (4) questions are answered “YES,” then the exception applies and the Trustee fills out and signs the TDS; however: If there is one (1) or more “NO” answers to these 4 questions, then the Trustee(s) are exempt and the TDS is not completed or signed. 1. Is it a revocable Trust?
If “NO,” then the Trustee is exempt from completing the TDS.
It is important to recognize that the key words are “revocable Trust” (not a “Living” or “Family Trust”) which is sometimes in the title of the Trust, but that status can change over time. Most Living and Family Trusts originate as a revocable Trust but these Trust often become an “irrevocable Trust” when the original Trustee dies. If you cannot determine whether the Trust is revocable or irrevocable, the Title Company can assist with that. If the Property is held in an irrevocable Trust, then you have a “NO” as to 1 of the 4 of the required elements and you do not need to go any further – the Trustee(s) are exempt from completing the TDS.
Click here to read more ... DO NOT FORWARD TO CLIENTS. This Weekly Practice Tip is for the exclusive use of clients of Broker Risk Management and their agents. It may not be reproduced or distributed without the express written consent of Broker Risk Management. The advice and recommendations contained herein are not necessarily indicative of standards of care in the industry, but rather are intended to suggest good risk management practices. PRACTICE TIPS All Weekly Practice Tips are available at BrokerRiskManagement.com User ID: clientaccess, password: yard
Product Trainings
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TTopic: Moxi Listing Presentation When: 8/13/18 Time: 10:00-11:30am Trainer: Ashley Jennings Where: Larkspur Office 490 Magnolia Ave Larkspur, CA 94939
Let us know if you can make it! What is Moxi: Create a listing presentation that will help you stand out from your competitors. This program displays your content in a digital interactive way that keeps your clients engaged!
See you there! If you have any questions about the trainings please send an email to: ashley.jennings@pacunion.com
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2018 Advertising Online & Print Distribution, deadlines, and rates
*Some details will be updated as information becomes available. Advertising rates are subject to change. If you are interested in a specific publication that is not on this list, please contact your Marketing Coordinator directly. Co-op advertising rates are at your manager’s discretion.
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PREMIER SERVICE
@pacificunion
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Resources - Forms, Vendors, Services • Inspection Checklist and Forms • Pacific Union Marin Vendor Guide • FEMA: Marin Flood Zone Update
• Sewer City and Fire Inspections
Pacific Union Leaders Brent Thomson & Pat Heller to Speak at Industry Conference Pacific Union Chief Operating Officer Brent Thomson and Vice President and Branch Manager Pat Heller will be among the featured speakers at the second California Association of Realtors’ WomanUP! Conference on June 28-29 at the JW Marriott LA Live in Los Angeles. The two-day conference is part of CAR’s women’s outreach program to bring together a community of mentors and leaders to communicate, collaborate, and support one another in the real estate industry. For its program, CAR earned a nomination for an Inman Innovator Award from Inman News, which saluted the organization’s commitment to helping elevate women in the industry. Thomson oversees all aspects of Pacific Union operations, including the recruitment and performance of top real estate professionals. She also leads the executives of the firm’s Northern California region. “Women make up the majority of the real estate industry, yet they’re underrepresented in brokerage leadership,” she says. “This conference seeks not only to heighten awareness of these opportunities, but to inspire women to move toward them.” Thomson continues, “Building self-confidence and learning to trust myself has been a by-product of many successes, as well as failures. Learning to appreciate that a failed attempt was far better than no attempt gave me more freedom to express myself, think big, and respect the same in others.” Heller, who heads four Pacific Union Westside Los Angeles locations (Brentwood East, Marina Del Rey, Pacific Palisades, and Santa Monica), has led every office she’s managed over the last two decades to top five national revenue-production status. She sees the conference as an invaluable opportunity for women to gather both input from experienced brokerage owners and support from the real estate community as they pursue their leadership careers. “This is an empowering event for women across our field,” she says. CAR data shows that 60 percent of real estate professionals in California are women but only about one-third of leadership positions in brokerage firms with more than 100 professionals are led by women — a statistic that has been virtually unchanged in recent years. CAR held its inaugural WomanUP! Conference in Pasadena last year. More than 300 women and men attended the full day of professional development devoted to giving powerful women bold tools to take their careers to the next level.
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Affiliate Resources The Mark Company The Mark Company is the authority on urban residential real estate sales and marketing. Using The Mark Method, our unique approach aligns developer goals with buyer insights to deliver unbeatable results. Visit: themarkcompany.com
Property Management Pacific Union Property Management offers full-service property management to property owners, landlords and investors throughout the SF Bay Area, helping your clients to maximize luxury real estate investments. Visit: pacunionpm.com
Commercial Backed by Pacific Union’s strong name recognition and marketing foundation, our Commercial Brokerage specializes in buying, selling, and leasing commercial properties- apartments, office, retail, and industrial- for a mix of clients. Visit: pacificunion.com/commercial-real-estate
Rentals Gain access to the Bay Area’s most exceptional rental properties with the helpof our rental experts. Visit: pacificunion.com/leasing-rentals
Relocation Whether you are moving to or departing from the Bay Area ... whether your move is job-related or personal ... whatever your move, we’ve got you covered. Visit: pacificunion.com/relocation
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To obtain more information and quote, contact Adrianne Peixotto at 415-223-5543 or email adriannep@proinsurance.com
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