OC REALTOR®: January/February 2021 by Orange County REALTORS®

CONTENTS Charting a Fresh Course into the New Year!

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As 2019 came to a close, China informed the World Health Organization (WHO) about a suspicious cluster of pneumonia cases in Wuhan. One week later, a new type of coronavirus was identified as the cause of this disease. COVID-19—the acronym assigned to this disease—spread rapidly from one country to another. Within less than three months, WHO was terming the situation a pandemic; and on March 16, the White House issued social distancing guidelines. Adults stayed at home to work, and youngsters stayed home for school. Classes, meetings, and conferences took place virtually. Now, because the Food and Drug Administration has approved two COVID-19 vaccines for use in the United States, there is reason to believe that, in 2021, life will return to something resembling pre-pandemic normal and that we can begin to PRESIDENT’S MESSAGE chart a fresh course into the New Year.

8 Cover Story: 29

16 the

The Installation of Lori Namazi and the 2021 Board of Directors

How Proposition 19 Affects Homeowner Property Taxes

Probate Attorney and CPA Paul Horn looks at changes to the ways Featuring photos of the Officers Installed on December 2, Lori hopes to engage people in new ways and to have tough ® and Directors and of the REALTOR , in which intrafamily property conversations for the betterment of both the real transfers estate industry the wider community. willand be taxed. Affiliates, and Volunteer of the Year. BY SHERRI BUTTERFIELD WRITER AND EDITOR

Education: Make 2021 a Year of Learning Sabrina Blair describes nine different courses that OC REALTORS ® offers and members may wish to take to earn new certifications and designations.

26 President’s Message Where were you born? What was did you go to school? What You have saidStill that, after September Proposition 13 Is the Third11, 36 8 interesting, unusual, or Where especially did you study? What certificates, 2001, you were “unhappy in your

2020: The Year of Turning Rail of California Politics job, did some serious soul-searching, Howard Jarvis Taxpayers Challenges into Opportunities and wanted to be in a field where

memorable about your childhood? degrees, or licenses did you earn? A Conversation with Lori Namazi

The 2021 President of OC

I was born in West Covina and During my first career as a the work reallyJon mattered.” What Association President Coupal ® intends haveREALTORS lived within a one-hour driveto look restaurant manager, I had the closely was unfulfilling about your first voters want significant of there for my entire life. I am earliest career and how did real estate solve at how clients want the privilege real of receiving mysays absolutely a SoCal girl. During management training from reforms before they give that problem? estate Ibusiness to change and Corporation. Their my childhood, always belonged McDonald’s government any more money. to a large I wasmembers in world-renowned howorganization. Association want management Running a multi-million-dollar-athe Girl Scouts for eight years training, culminating in .a week-long year restaurant gave me invaluable services delivered. and then went into Band and Tall intensive at Hamburger University, business experience and a deep Flags during the four years of is as excellent as you have heard understanding of service and of high school. I formed my closest that it is. Later, when I advanced human resources; but, a at the end A Helping of Humor with Side relationships in these groups; in management at my former of the day, I was just feeding people belonging to them helped shape my brokerage, I went to Azusa Pacific of Inspiration lunch. Real estate addresses view of working collaboratively. A University, where I earned both a the diverse deeper needsources, people have for Drawing from few years ago, I realized that the Bachelor’s and a Master’s Degree in The Orange County Housing shelter, which is essential for both Michelle McCann offers warmth, desire to have shared experiences Organizational Leadership. safety and security. Now that I am with Update many people was part of who take the comfort, andanaindependent smile orbroker, two Iduring I am.Steven This desire helps explain Thomas says that, with so few experience I acquired while running these pandemic times. why I continue to be involved and a restaurant and apply that to homes it will not be a engaged in theavailable, local and state running my own company. Associations than simply buyer’srather market anytime soon. paying my membership dues.

Features 16

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OC REALTOR®

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OC REALTOR®

Tiffany Gardner Wood interviews NAR 2021 Immediate Past President Vince Malta about new rules, classes, plans, and programs.

Membership: Emeritus and Honorary Orange County REALTORS® congratulates four NAR REALTOR® Emeritus Members, twenty-three C.A.R. Honorary Members-for-Life, and one Affiliate Member-for-Life.

Leadership: Three REALTOR® Members Receive Leadership Legacy Awards Recipients of this special honor are Sandra Deering, Nancy Hunt, and Mary Aileen Matheis.

Affiliate Appreciation Party–North

Affiliate Appreciation Party–South

Affiliates in Action: New REALTOR® Orientation in December

The Game of Real Estate Discover the perks of Association membership as you play.

Departments 12

Mentions Members write about having enjoyed a President’s positive message and having attended a Global Business Alliance (GBA) committee meeting.

On the Cover: Blazing a Trail for 2021

Names in the News

Education Central: Upcoming Classes by Track

As was typical of many important activities and accomplishments during the past pandemic year, the picture on the cover is “virtual.” It was created from separate photos of Treasurer Joyce Endo, President Lori Namazi, President-Elect Adam Rodell, and Past President Danielle Corliss, skillfully combined to create the unified Orange County REALTORS ® Executive Team that is blazing a trail for 2021.

ORANGE COUNTY

REALTOR®

Love the Orange County REALTOR®? Did you know that you can read it online, anytime? Read past issues at www.ocrealtors.org/magazine.

MAGAZINE

25552 La Paz Road Laguna Hills, CA 92653

10540 Talbert Avenue, Ste. 225 West Fountain Valley, CA 92708

949-586-6800

714-375-9313

www.ocrealtors.org Lori Namazi President Adam Rodell President-Elect Joyce Endo Treasurer Danielle Corliss Immediate Past President Dave Stefanides Chief Executive Officer

2021 BOARD OF DIRECTORS Charleen Nagata-Newhouse Pamela Pedego Joe Pierce Vinil Ramchandran Lacy Robertson Lisa Schulz Jessica Siguenza Lynne Suzanski Scott White

MAGAZINE STAFF Sabrina Blair

Breanna Reed

Sherri Butterfield

Ivan Salmeron

Director of Communications sabrina@ocrealtors.org Communications Specialist sherri@ocrealtors.org

The mission of the OC REALTORS® is to promote the REALTOR® Code of Ethics; to provide education, services, and resources to our members; and to advocate the protection of real property rights.

Notice to All Members

2021 OFFICERS

Mary Jane Cambria Matt Cortez Michele Harrington Julie Hile Jeff Jackson Sherrie LeVan Liz Lewis Chip McAllister Ed Molina

Mission Statement

Accounting Administrator breanna@ocrealtors.org Print & Marketing Specialist ivan@ocrealtors.org

It is the long-established policy of this Association, the California Association of REALTORS®, and the National Association of REALTORS® to adhere to both the letter and spirit of the federal and state antitrust laws. For their own protection, members should be aware of the antitrust laws as they affect their specific business activities. Any illegal activity under the state and federal antitrust laws is not in compliance with Association policy, nor is it in the interests of the Association or its members. Participation in Association activities must occur only in harmony with these very important laws. Federal law prohibits discrimination based on race, color, sex, religion, or national origin in connection with the sale or rental of residential real estate, in advertising the sale or rental of housing, in the financing of housing, and the provision of real estate brokerage services. The Orange County REALTOR® editor reserves the right to review and edit all submissions. Orange County REALTORS® makes no warranties and assumes no responsibility for the accuracy of the information contained herein. The opinions expressed in articles are not necessarily the opinions of the Orange County REALTORS®. Orange County REALTORS® does not necessarily endorse the companies, products, or services advertised in this magazine unless specifically stated. The OC REALTOR® (USPS 025-445, ISSN 1945-2179) Volume 12, Issue 1, is published by the Orange County REALTORS®, 25552 La Paz Road, Laguna Hills, CA 92653. Periodicals postage paid at Laguna Beach, CA, and additional mailing offices. POSTMASTER: Send address changes to Orange County REALTORS®, 25552 La Paz Road, Laguna Hills, CA 92653-5127. Annual membership dues include $3.13 for a one-year (6 issues) subscription to the OC REALTOR® magazine. OC REALTOR® cannot be responsible for unsolicited materials. Publisher: Orange County REALTORS® Printer: The Monaco Group

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OC REALTOR®

PRESIDENT’S MESSAGE

the Installed on December 2, Lori hopes to engage people in new ways and to have tough conversations for the betterment of both the real estate industry and the wider community. BY SHERRI BUTTERFIELD WRITER AND EDITOR

Where were you born? What was especially interesting, unusual, or memorable about your childhood?

Where did you go to school? What did you study? What certificates, degrees, or licenses did you earn?

I was born in West Covina and have lived within a one-hour drive of there for my entire life. I am absolutely a SoCal girl. During my childhood, I always belonged to a large organization. I was in the Girl Scouts for eight years and then went into Band and Tall Flags during the four years of high school. I formed my closest relationships in these groups; belonging to them helped shape my view of working collaboratively. A few years ago, I realized that the desire to have shared experiences with many people was part of who I am. This desire helps explain why I continue to be involved and engaged in the local and state Associations rather than simply paying my membership dues.

During my first career as a restaurant manager, I had the privilege of receiving my earliest management training from McDonald’s Corporation. Their world-renowned management training, culminating in a week-long intensive at Hamburger University, is as excellent as you have heard that it is. Later, when I advanced in management at my former brokerage, I went to Azusa Pacific University, where I earned both a Bachelor’s and a Master’s Degree in Organizational Leadership.

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OC REALTOR®

You have said that, after September 11, 2001, you were “unhappy in your job, did some serious soul-searching, and wanted to be in a field where the work really mattered.” What was unfulfilling about your first career and how did real estate solve that problem? Running a multi-million-dollar-ayear restaurant gave me invaluable business experience and a deep understanding of service and of human resources; but, at the end of the day, I was just feeding people lunch. Real estate addresses the deeper need people have for shelter, which is essential for both safety and security. Now that I am an independent broker, I take the experience I acquired while running a restaurant and apply that to running my own company.

PRESIDENT’S MESSAGE

Photo by Marion Butterfield

“

How did you discover real estate? What do you find most interesting or challenging about this field? What do you find most satisfying? When I decided to leave the restaurant industry, I had no idea what I wanted to do. I took six months off. During that time, I had an opportunity to learn more about getting into the real estate business. I had bought a home two years earlier, and the process was something at which I knew I could excel. Because I am naturally an introvert, I knew that finding clients was going to challenge me out of my comfort zone, but I was up for the challenge. The path I took changed along the way, and I found myself running one of the largest companies in Orange County. Having the opportunity to be part of how others fulfilled their dreams through their work inspired me every day to be the leader they needed.

Together, we will look at how our clients want our business to change and how our members want their

”

benefits to be delivered.

During the early days of your real estate career, you worked for large brokerages; however, at some point, you decided to become an independent broker. What, exactly, is an independent broker? What made you decide to become one? What are the advantages and disadvantages of being one? Independent brokers do not hold their license under someone else’s broker’s license. Essentially, they start their own brokerage and can operate on their own or hire agents under their license. Many agents who obtain the additional education needed to earn the broker’s license eventually want the freedom to operate the way they feel best fits their needs and best serves their clientele. I chose to become an independent broker because I wanted to put my business experience to use and work with like-minded agents who served clients the way that I did.

California laws. You fund your own business, and sometimes you don’t have a fancy office or every tool under the sun. You have the flexibility to make your own decisions and operate the way you choose. At the end of the day, agents want to provide their clients with a successful close of escrow and an outstanding experience. Whether you are with another brokerage or run your own, your clients depend on you to guide them through the process and fight for them. It’s up to you to deliver service that sets you apart from everyone else.

“

We must learn to adapt or we will

not survive.

”

As an independent, it’s up to you to seek out education to remain compliant with the Department of Real Estate regulations and with

OC REALTOR®

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PRESIDENT’S MESSAGE You have said that one of your reasons for seeking a seat on the Orange County REALTORS® Board of Directors was that you wanted to be a voice for independent brokers. What are the needs and goals of independent brokers and how do they differ from those of the larger franchised brokerages? Independent brokers make up nearly one-third of our membership at Orange County REALTORS®. The rest of the members belong to one of the many large brokerages in the county. While we all do the same work, independent brokers often feel alone and unrepresented. The goal of Orange County REALTORS® is to provide resources and education for every agent member. I know we strive to do that and to ensure that all agents have a place where they are welcomed and find value in their membership.

Today, real estate information is readily available on the internet, and people can use their computers to buy almost anything. Under these circumstances, how do REALTORS® retain their value and convey that value to potential clients and to members of the public? It’s so important to remember that our business is really about relationships. The service we provide to our clients is individual to their specific needs. So much of what happens in a transaction seems like it can be automated—and actually, some of it can be. What can’t be automated is the human element, the understanding and compassion that goes along with helping clients navigate the details with which they are unfamiliar. Real estate is complicated and stressful. It is our job to guide clients through

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this experience in such a way that they recognize a machine could not have been there to handle the many personal details that we do.

You have said that fear is the greatest threat REALTORS® face today. When making this assertion, you went on to explain that REALTORS® are constantly being bombarded with conflicting information, threats of new companies and new business models, and reports about disruptors and about new technology that may replace REALTORS® entirely. And you have said that, to be effective, REALTORS® must learn to “quiet the chaos in their ears and continue to work during the changing—and challenging—cycles.” But, more specifically, how does one do that? We often forget that this industry is hundreds of years old and has gone through many changes as the business world evolved. New competitors and new ways of doing business are not something that just started happening. We must learn to adapt or we will not survive. When I chat with agents who have been in the business for three to four decades, I am always impressed that they never get caught up in the chaos of a changing industry. They simply put their heads down and work. They adapt to new technology or to changes in how they communicate, yet they know the fundamentals do not change. It’s usually very simple: talk to people. Don’t worry about how often to email clients or post on social media. It doesn’t matter where you work or what software you use. What matters is staying in touch and reminding clients why you are their agent and that you are available to serve their friends and family

OC REALTOR®

members in the same special way that you served them. Companies will come and go. You can either get caught up in the fear of their taking over, or you can simply do the work you chose to do.

On December 2, you were installed as the 2021 President of Orange County REALTORS®. What motivated you to accept the responsibility of serving as President of Orange County REALTORS®? Specifically, what do you hope to accomplish during this New Year? As I’ve mentioned, I have always been drawn to belonging to a large group. Before and after pursuing my degrees in Organizational Leadership, I have always been in some type of leadership role. Serving as President of the Orange County REALTORS® was not initially something that I thought I would apply to do. I felt called to raise my hand and, at the time, I really didn’t know why. The year 2020 certainly was an unexpected year in many ways with the COVID-19 pandemic. I hope that we reemerge from the isolation we have been under to control the pandemic and that we look for ways to build back better (#BuildBackBetter – it’s a hashtag that’s out there, but I didn’t start it). We don’t know exactly what that will look like, and that is okay. Together, we will look at how our clients want our business to change and how our members want their benefits to be delivered. I hope to unite people in ways they did not recognize were important to them before. If nothing else, I hope to engage people in new ways and have tough conversations for the betterment of our industry and our community.

NAMES IN THE NEWS

NAMES in the

NEWS

OC REALTORS® Celebrates Veterans Day Virtually It is becoming a tradition for Orange County REALTORS ® to stage a flag-raising ceremony at the flagpole in front of the Laguna Hills office each November in honor of Veterans Day. This year, because of the COVID-19 pandemic, OC REALTORS® Meetings and Events Director Zhipi McDougald arranged for the Third Annual Veterans Day Recognition Ceremony—which was held on November 5 with the help of OC REALTORS ® members Tony Faulkner, Roy Fussell, and Fred Otto-Egeler— to become a virtual event. Orange County REALTORS® 2020 President-Elect Lori Namazi welcomed guests to this ceremony, which featured a speech by Colonel Rob Weiler,

USMC, Commanding Officer, 5th Marine Regiment, 1st Marine Division, Camp San Mateo, Camp Pendleton. Event participants watched as the Stars and Stripes were raised on the main parade deck at Marine Corps Recruit Depot San Diego in tribute to those who answered our country’s call by serving in the U.S. Army, Navy, Air Force, Marine Corps, or Coast Guard, at home or abroad, either to win a war or to preserve the peace.

OCBC Election Day Luncheon Goes Virtual It would not be Election Day in Orange County without the Orange County Business Council’s Election Day Luncheon, during which “formers” on the program poke good-humored fun specifically at “currents” and more generally at the political process. Because of the pandemic, this year, OCBC President and Chief Executive Officer Lucy Dunn welcomed guests to the “first ever virtual Election Day Luncheon” and then declared, “If there was ever an election that needed an Election Day Luncheon, it’s 2020!”

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OC REALTOR®

NAMES IN THE NEWS Among the “formers” who took part in the program were Curt Pringle, former mayor of Anaheim; Kate Klimow, former government affairs vice president of OCBC; Don Hansen, former mayor of Huntington Beach; and Peter Buffa, former mayor of Costa Mesa. Joining them was Jennifer Ward, OCBC’s current senior vice president for advocacy and government affairs.

Photos by Marion Butterfield

And staging several rounds of “Political Jeopardy” was OC REALTORS ® Government Affairs Director Dirissy Doan, who asked contestants Dave Harrington, Michele Harrington, and Anthony Williams such burning questions as “Which candidate will need the most therapy after the election?” and “Which candidate is most likely to get impersonated on an album cover?”

Chapman University Presents Its 43rd Annual Economic Forecast On December 17, James Doti, president emeritus and professor of economics at Chapman University, presented that university’s 43rd Annual Economic Forecast during a virtual conference. Dr. Doti pointed out that, in the early days of the pandemic, most forecasters were very pessimistic, but that Chapman did not buy into the pessimism. “We were the most optimistic among the forecasters,” he declared. “We were optimistic about the recovery.” Looking at job growth by state, Dr. Doti acknowledged that California had suffered more than other states because so many of its workers are employed in the leisure and hospitality industry—that is, in hotels, restaurants, and tourism. He pointed out that government mandates had a large effect on state economies and said that “California had more mandates than other states.” He added, “The states whose economies performed best were those that were least restrictive.”

“The COVID recession was much deeper and stronger than the Great Recession,” Dr. Doti continued, “but the recovery was also much stronger.” Although housing picked up sharply during the third quarter, the real rebound was on the consumer spending side. Dr. Doti said that the reason for the optimism was wealth, that is, a combination of net household assets and the stock market. “Savings have increased sharply. Pent-up demand is building and will be translated into consumer spending once the economy opens up,” he predicted.

OC REALTOR®

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NAMES IN THE NEWS C.A.R. Chief Economist Leslie Appleton-Young Retires California Association of REALTORS® (C.A.R.) Vice President and Chief Economist Leslie Appleton-Young retired at the end of 2020, concluding a thirty-six-year career at C.A.R., most of it spent as chief economist. Leslie, who earned a bachelor’s degree in economics from the University of California, Berkeley, and a master’s degree in economics from the University of Pennsylvania, was hired as an economic researcher in the 1980s by Joel Singer, who was C.A.R.’s chief economist at the time. When asked in a 2011 interview how she got into real estate, Leslie responded, “I never got into real estate. I’m an economist.” But she was an economist who came to understand real estate. She understood that, like politics, all real estate is local and wisely relied on what she termed “a deep bench of informed practitioners” to provide insights that could not be gleaned from aggregate data. Professionally, having watched real estate struggle through two market crashes, adapt to the internet, and react with uncertainty to the coronavirus, Leslie is optimist about the possibility of continued gains in home sales and prices in 2021 if there is widespread vaccine use by June. Personally, she is leaving Pasadena in March and will make her future home in Sarasota, Florida.

Irvine, Costa Mesa, and Fullerton are seeking approval to form a joint powers authority (JPA) for the purpose of purchasing electric power. Under the plan, Southern California Edison would continue to deliver power to these cities through its transmission lines, but the JPA would procure its own electricity. Because this new municipal energy coalition would not be bound by longterm contracts, it would be in a better position to negotiate and should be better able to purchase cleaner power and provide it to customers at lower rates. The idea of a municipal energy coalition is not new. Already, ten million people—one quarter of the California’s residents—receive their electricity from what is termed “community choice energy.” Approved by the state Legislature in 2002, community choice energy was an effort to address problems—including blackouts and a statewide energy crisis—that resulted from the California’s deregulation of the electricity industry in the late 1990s. Key elements of the municipal energy procurement process, including rate structures, must be approved by the California Public Utilities Commission in much the same way they are for investor-owned utilities.

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OC REALTOR®

Amazon Buys Old Register Land On October 19, Amazon paid nearly $63.2 million to purchase the 63-yearold Orange County Register printing plant at 625 N. Grand in Santa Ana and the 16 1/2 acres of land along the 5 Freeway on which it stands. The Register’s newsroom relocated in 2017 to leased offices at 2190 South Town Centre Place in Anaheim one year after Digital First Media bought the newspaper in a bankruptcy auction. According to a site plan filed with Santa Ana, Amazon plans to tear down the printing plant and build a one-story, 112,485-square-foot warehouse, or “last mile” distribution center, in the heart of Orange County. Last year, Amazon opened a delivery station on the old Unisys site at 25725 Jeronimo Road, in Mission Viejo.

Photo by Marion Butterfield

Three OC Cities Make Plans to Unplug from Edison

Moulton Niguel Ranks First Among OC Workplaces

Eleven OC Water Agencies Sue Over Tainted Water Supply

In the Orange County Register’s annual list of Orange County’s Top Workplaces, the Moulton Niguel Water District ranks first among midsize companies, that is, those that have from 100 to 499 employees. Founded in 1960 with offices in Laguna Hills, Moulton Niguel is a utility that employs 161 people and delivers high-quality drinking water, recycled water, and wastewater services to more than 170,000 customers in Aliso Viejo, Dana Point, Laguna Hills, Laguna Niguel, Mission Viejo, and San Juan Capistrano.

In an action reminiscent of Erin Brockovich, eleven Orange County water districts have joined in a lawsuit seeking millions of dollars from DuPont, 3M, and other companies whose carcinogenic chemicals have leached into groundwater aquifers, forcing the closure of more than three dozen wells in the central and northern parts of the county.

Phone Scam Costs Edison Customers Nearly $300,000

The chemicals—known as per- and polyfluoroalkyls (PFAS)—are commonly found in nonstick pans, waterproof jackets, and other similar products. They are very persistent in both the environment and the human body, where they can accumulate over time.

During November, a phone scam cost Southern California Edison (SCE) customers nearly $300,000. The caller mentioned unpaid bills and threatened to cut off power to the household unless immediate payment was made via a reloadable debit card.

Photo by Marion Butterfield

Fearing a loss of electricity, the victims—and there have been at least 433 of them so far—carefully followed the caller’s instructions to purchase debit cards from a grocery or convenience store. As soon as they read the serial number on the back of the card to the scammer, the money was gone forever. And the calls were almost impossible to trace. Jill Anderson, SCE’s senior vice president of customer service, says that one reason customers fall for the scam is that they are unfamiliar with the procedure SCE follows for overdue bills. “Customers will always receive multiple written notices,” says Anderson. “Usually, a customer will receive an initial letter, followed by a second letter that lays out the timeline for disconnection.” SCE offers payment plans and accepts payments by automatic bank withdrawal, by check, and by banking information provided directly over the phone. But SCE seldom makes phone calls asking for payment and never suggests that debit cards be purchased and used to pay bills. Customers with questions about their SCE account balance can call 800-655-4555. They can report suspected fraud attempts by emailing SCE at csinfogov@sce.com or by completing SCE’s online fraud form. And customers who receive a telephone call demanding immediate payment are encouraged to verify the source of the call before making any attempt to satisfy the demand.

PFAS are believed to end up in county wells as product residue that finds its way into Inland Empire wastewater. That water is released as treated sewage into the Santa Ana River, which eventually settles into the county’s groundwater basin and seeps into in the wells. Money from the lawsuit would compensate the water districts—and the hundreds of thousands of residents they serve—for costs associated with this contamination, including the treatment plants being designed to remove PFAS from the water.

Names in the News is intended to be primarily a place where REALTOR® and Affiliate members of Orange County REALTORS ® can share both personal and professional news—about births (of children or grandchildren), graduations, weddings, anniversaries, accomplishments, awards, and other milestones—with one another. If you have news to share, email it to Orange County REALTORS ® Writer and Editor Sherri Butterfield at Sherri@ocrealtors.org.

OC REALTOR®

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Photo by Marion Butterfield

NAMES IN THE NEWS

THE ORANGE COUNTY HOUSING UPDATE

NOT ANY TIME

SOON!

Because so few homes are available for purchase, it will not be a buyer’s market anytime soon. By Steven Thomas

uying a home in today’s market is tough. A couple browses home after home until they find one worth seeing. After scheduling a showing, they write an offer to purchase because the house would be perfect for their growing family. It meets all their requirements, and it has the added benefit of a downstairs bedroom. Excitement and anticipation are in the air as they wait for a response. Their enthusiasm begins to dim when they discover that there are nine additional offers on their “perfect” home. After going back and forth with the seller, the buyers learn that they were not the winning bidder. They must go back to the drawing board and browse for their next opportunity. This scenario plays out repeatedly not only in Orange County but also across the United States. Many buyers find success, but not immediately. Other buyers, especially in the lower price ranges, write offer after offer but cannot seem to get one of them accepted. The process is frustrating, and many buyers reach the point where they simply want to give up. Should they wait until the market tilts more in the buyer’s favor? Will buying get easier anytime soon? Unfortunately, it will not get any easier, and waiting to purchase does not make sense.

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OC REALTOR®

Photos: www.istockphoto.com/MattGush

REPORTSONHOUSING.COM

THE ORANGE COUNTY HOUSING UPDATE

A clear case of supply and demand. From November 2012 through May 2013, and from December 2017 through February 2018, fewer than 4,000 homes were available to purchase. This situation has occurred only twice since 2004—until 2020. The Orange County active listing inventory dipped below 4,000 at the end of October and will be below 4,000 into the 2021 Spring Market.

From November 2012 through May 2013 and from December 2017 through February 2018, there were fewer than

4,000 What is going on is simple supply and demand. The active inventory has been at low levels since 2012 and has dropped a few times to unprecedented lows. From November 2012 through May 2013 and from December 2017 through February 2018, there were fewer than 4,000 homes available to purchase. This situation has occurred only twice since 2004— until 2020. The Orange County active listing inventory dipped below 4,000 at the end of October. The New Year will start with fewer homes on the market than in 2013. This means that the active inventory in 2021 will be below 4,000 into the Spring Market.

The Spring and Summer Markets from 2013 through 2019 have ranged between pending sales. &

2,500 3,200

homes available to purchase.

Demand, the last thirty days of new escrow activity, is also currently at unprecedented levels. The Spring and Summer Markets from 2013 through 2019 have ranged between 2,500 and 3,200 pending sales. At the start of December, demand was at 2,621 pending sales, above the 2,500 threshold. It was the strongest start to a December since 2012, when housing had just come out of its Great Recession slumber and was sizzling hot. With mortgage rates at record-low levels (i.e., below 3 percent), demand will remain elevated. Forecasts call for the low mortgage rate environment to continue throughout 2021.

Another way to gauge the strength of the housing market is to look at the spread between the supply of homes available to purchase and current demand levels. When the number of homes going into escrow is close to the number of available homes, it indicates a powerful market that leans heavily in favor of sellers. That is precisely what occurred in December. The difference between the number of available homes and demand was only 848. It was at 2,765 in December 2019 and 5,166 in December 2018. The only other time that the spread between the inventory and demand dipped below 1,000 was between October 2012 and June 2013. That was also when home values appreciated rapidly. There were not enough homes available to satiate the voracious appetite of willing buyers.

OC REALTOR®

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THE ORANGE COUNTY HOUSING UPDATE

“The current housing market may be frustrating, but it would be foolish to wait and not take advantage of record-low rates and lower home prices.” Photos: www.istockphoto.com/CarlosDavid.org

???

Hmm, should I buy now or wait?

Mortgage rates are low, and homes will appreciate. I should buy now!

Because it is not going to get easier for buyers anytime soon, waiting is not the answer. Based on current supply and demand levels, the longer a buyer waits, the more homes will appreciate. That will be the story in 2021. In addition, mortgage rates are at unprecedented low levels. According to Freddie Mac’s weekly Primary Mortgage Market Survey® released on November 25, the thirty-year fixed remained at 2.72 percent, its thirteenth record low in 2020 alone. Mortgage rates are not forecast to go any lower in 2021. In fact, there is a strong chance that they will rise slightly as the economy improves throughout the year. A combination of higher rates and higher prices does not work in a buyer’s favor.

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OC REALTOR®

Attention Buyers: Do not wait to purchase! Delaying a purchase will result in higher prices and higher mortgage rates, eroding home affordability. The current housing market may be frustrating, but it would be foolish to wait and not take advantage of record-low rates and lower home prices.

Steven Thomas has a degree in quantitative economics and decision sciences from the University of California, San Diego, and more than twenty years of experience in real estate. His bimonthly Orange County Housing Report is available by subscription and provides housing market analysis that is easy to understand and useful in setting the expectations of both buyers and sellers. His website is www.ReportsOnHousing.com.

OC REALTORÂ®

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PROPERTY TAXES

How Proposition 19

Affects Homeowner Property Taxes

Approved by voters on November 3, 2020, this proposition will take effect on April 1, 2021, and will change the way in which property taxes are assessed on some intrafamily property transfers. BY PAUL HORN PROBATE ATTORNEY AND CPA Editor’s Note. On June 6, 1978,

nearly 70 percent of California’s registered voters turned out to cast ballots, and almost two-thirds of them voted to approve Proposition 13. Thus, the provisions of Proposition 13 became Article XIII A of the California Constitution. Proposition 13 rolled back property values for tax purposes to their 1976 level, capped ad valorem property tax rates at one percent of full cash value at the time of acquisition, limited property tax increases to an annual inflation factor of no more than 2 percent, provided that property would be reassessed for tax purposes only when there is a change of ownership, gave all taxpayers the right to vote on new local taxes, and required a two-thirds vote of the Legislature to increase state taxes. California property owners received additional protections as voters 20

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enacted Proposition 58 (in 1986 with 75.7 percent voter approval), which permitted children to inherit their parents’ primary residence without property tax reassessment; Proposition 60 (in 1986 with 77 percent voter approval), which enabled seniors, disabled, and others to transfer the Proposition 13 property tax assessment of their primary residence to another property of equal or lesser value in the same county; Proposition 90 (in 1988 with 69 percent voter approval), which provided for transfer of the Proposition 13 property tax assessment between counties provided the receiving county agreed (Only 10 of California’s 58 counties agreed.); and Proposition 193 (in 1996 with 67 percent voter approval), which permitted grandchildren to inherit a primary residence, if their parents are deceased, without property tax reassessment.

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On November 3, 2020, California voters approved Proposition 19. Scheduled to take effect on April 1, 2021, Proposition 19 will alter some of the provisions of Propositions 58, 60, 90, and 193, and change the way in which property taxes are assessed on some intrafamily property transfers. In the paragraphs that follow, Probate Attorney and CPA Paul Horn explains what changes will come about because of the passage of Proposition 19 and compares the provisions of this new law with those that are in effect under current law. The recent passage of California Proposition 19 means substantial changes to the manner in which real property is reassessed in California. These changes will bring greater flexibility to certain property owners who are over fifty-five or are the victims of natural disasters but will

PROPERTY TAXES

mean greater restrictions on certain intrafamily transfers (for example, those from parent to child or from grandparent to grandchild).

Primary Residence Transfers Under Current Law Currently, an individual who is over age fifty-five or who is a victim of wildfire or other natural disaster and who sells his or her primary residence may transfer the assessed value of that existing primary residence to a new primary residence. This can be done only once per lifetime and only for a replacement dwelling in the same county or one of the ten counties that permit intercounty transfers, and only if the purchase price of the replacement residence is equal to or less than the purchase price of the original residence.

Proposition 19, however, provides that these individuals may, instead, make three transfers per lifetime, in any county in California, and that they may do so for a replacement property with a purchase price higher than the value of the original property. In the latter case, the assessed value for the replacement property will be the assessed value of the original property plus the difference in value between the sale price of the original property and the purchase price of the replacement property. The Proposition 19 rules affecting these primary residence transfers will take effect on April 1, 2021; therefore, individuals who believe they will qualify for such exemptions should wait until after April 1, 2021, to sell their current primary residence.

Intrafamily Transfers Under Current Law Under current law, California property tax is assessed based on a property’s purchase price, plus the cost of any improvements to the property. Since the enactment of Proposition 13 in 1978, the assessed value of a property may be increased no more than 2 percent per year, unless there is a “change of ownership” (i.e., a sale or transfer of the property), in which case the property is reassessed to its current market value at the time of transfer. Exempt from the “change of ownership” rules are certain transfers from parents to their descendants. Parents can transfer to their children (or, in some instances, grandchildren) their principal residence, plus additional real estate with an assessed value of up to $1 million without triggering a reassessment of the property.

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PROPERTY TAXES

Example 1

The Effects of Proposition 19 With the passage of Proposition 19, the ability of parents to leave real property to their children without triggering a reassessment is greatly curtailed. The only transfer that will not constitute a “change of ownership” is one that meets the following criteria:

1. The property transferred must be

the parents’ principal residence; After the transfer to the child, the child must use the property as his or her primary residence; and The child’s assessed value will be the parents’ assessed value plus up to $1 million; any amount of the current market value over that amount will be subject to reassessment.

Current law under Proposition 58. If Mom transfers the primary residence and the rental properties to her son, Edward, before February 21, 2021, the transfer of the primary residence is protected in an unlimited amount, and the $1 million in assessed value of the rental properties is protected. There will therefore be no reassessment, and Edward will pay the same property taxes that Mom paid— $15,000, increased by no more than 2 percent per year. New Law under Proposition 19. Now, the results are quite different. If Edward intends to live in the residence, his assessed value for that property will be calculated as follows: The amount protected from reassessment is $200,000 (Mom’s assessed value) plus $1 million, for a total of $1.2 million. The difference between the current value ($1.7 million) and the protected amount ($1.2 million) is subject to reassessment, which means that $500,000 ($1.7 million - 1.2 million) is subject to reassessment. Edward now has an assessed value of $700,000 (that is, Mom’s assessed value of $200,000 plus $500,000 assessment). The property taxes will, therefore, increase from $2,500 to $8,750 a year ($700,000 x .0125). As for the rental properties, Proposition 19 does not provide an exclusion for any rental property; therefore, Edward will have an assessed value of $12,000,000. The property taxes on the rental properties will increase from $12,500 to $150,000 per year. Edward will pay a total in property taxes each year of $158,750 on properties with a total current value of $13,700,000 and a total current assessed value of $12,700,000.

Examples In Example 1 and Example 2, let’s say that Mom owns her primary residence, which she purchased some years ago. At the time of her death, the residence has an assessed value of $200,000 and is worth $1.7 million. She also owns four rental properties, which are currently worth a total of $12 million and which have a total assessed value of $1 million. Assuming a property tax rate of 1.25 percent, Mom pays $2,500 in property taxes on her residence each year and $12,500 for the rental properties, for a total of $15,000 a year in property taxes.

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Current Law

Proposition 19

Primary residence assessed value is $200,000 Rental properties assessed value is $1 million (exempt under R&T Code Section 63.1(a)(1)(A))

Primary residence receives a limited exemption which is current assessed value + 1 million ($200,000 + $l million = $1.2 million). Current fair market value ($1.7 million) less limited exemption $1.2 million) = $500,000, which is reassessed. Thus, the child’s assessed value is $700,00 (Mom’s assessed value + $500,000 reassessment).

Rental Properties assessed value $1 million (exempt under R&T Code Section 63.1(a)(1)(B))

Rental properties receive no exemption and are reassessed to their fair market value of $12 million.

Assessed value is $1.2 million total (same as Mom’s)

Child’s new assessed value is $12.7 million ($700,000 for primary residence + $12 million for rental properties)

Property tax under current law is $15,000

Property tax under new law is

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$158,750

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Example 2 If Edward does not intend to live in the primary residence, the assessed values for the residence and the rental properties will total $13.7 million, and he will pay $171,250 in property taxes each year.

Current Law

Proposition 19

Same as the example above. Primary residence assessed value is $200,000. Rental properties assessed value is $1 million (exempt under R&T Code Section 63.1(a)(1)(A)) Property #2 assessed value $1 million (exempt under R&T Code Section 63.1(a)(1)(B))

Primary residence and rental properties will be reassessed to the fair market value because of the requirement that the property be dad’s/ mom’s primary residence and the son’s/ daughter’s primary residence after transfer, respectively.

Assessed value is $15,000 total, same as Mom’s

Assessed value is $13.7 million total ($1.7 million for primary residence + $12 million for the rental properties) . Property tax is $171,250, total

Property tax under current law is $15,000

Conclusion These two examples illustrate how Proposition 19 will increase a child’s property taxes on inherited real estate from $15,000 to a minimum of $158,750. Proposition 19 is effective for transfers after February 15, 2021. A child wishing to claim the exemption must do so by declaring the property to be his or her primary residence within one year of the transfer. This deadline may not be extended. Practitioners are currently working to create ways for taxpayers to avoid the negative repercussions of Proposition 19. Some property owners may wish to transfer real estate to their children directly before the deadline. It is also important to balance the need for estate tax planning with

income tax planning—for example, whether it is desirable for the property to be part of the owner’s estate so that a stepped-up basis may be obtained. Complicating the situation further is the fact that, given the uncertain nature of the Senate composition, it is not yet known what the future holds in terms of changes to the tax code.

Property owners may therefore wish to consult their estate planning counsel to determine which course is most advantageous for them because there are solutions to minimize and even eliminate the effects of Proposition 19.

Whether or not Proposition 19 planning is right for a particular property owner, therefore, depends on several factors, including how long a property has been owned, the difference between the assessed value and the current market value, whether the owner’s children intend to keep or sell the property after the owner’s death, whether estate tax planning is a concern, income tax planning needs, and the ultimate outcome of the current Senate race.

Paul Horn brings to his clients the unique expertise, insight, and perspective of someone who is both a Certified Specialist in Estate Planning, Trust, and Probate Law and a Certified Public Accountant (CPA). Additional information is available at www.PaulHornLawFirm.com. Paul can be reached at 562-474-1231.

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PROPERTY TAXES

Proposition 13

Is Still the Third Rail of California Politics Voters rejected Proposition 15’s split-roll formula, wisely perceiving that increasing the property taxes on businesses would raise the cost of the goods and services those businesses provide—and put homeowners next in line for a property tax increase. By Jon Coupal

PRESIDENT OF THE HOWARD JARVIS TAXPAYERS ASSOCIATION

2020 was supposed to be the year— the year when Proposition 13’s enemies finally inflicted a near-fatal wound on the iconic property tax reduction initiative adopted by voters more than forty years ago. As of this writing, it appears that they have come up short. Since 1978, tax-and-spend interests—mostly public sector labor organizations—have chafed under Proposition 13’s one percent limit on the property tax rate and the two percent limit on annual increases in assessed valuation. But even the most recent Public Policy Institute of California poll revealed that at least 60 percent of Californians viewed Proposition 13 as “mostly a good thing.” That level of support for Proposition 13 is remarkable given California’s increasing embrace of other progressive policies.

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Photos: www.istockphoto.com/solidcolours

This is now a deep blue state with Democratic supermajorities in both houses of the Legislature, and conservative statewide officeholders are nowhere to be found. To say this is no longer the California of Ronald Reagan is an understatement. Knowing that Proposition 13 retained high levels of support, especially among homeowners fearful of being taxed out of their homes, progressives thought they could repeal Proposition 13 incrementally. So it made sense that they would first target those evil corporations like Chevron and Disney. (Who knew Mickey Mouse was so dangerous?) But targeting what they believed were unpopular businesses was just one of their perceived paths to victory. They also projected that the 2020 general election would have much higher

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turnout than other elections because of the divisive presidential contest. Add to that a virtually endless supply of campaign cash and a complicit Attorney General who gave them a highly favorable ballot label that didn’t mention “tax revenue,” and they assumed that the first step in taking down Proposition 13 was in the bag. But a funny thing happened on the way to the polls. First, homeowners were rightfully concerned that a $12 billion property tax increase on businesses would translate into a higher cost of living. Moreover, homeowners were on to progressives’ long-term agenda of coming after them next. They took to heart Benjamin Franklin’s admonition that “we either hang together or hang separately” and so stood shoulder to shoulder with the business community against this assault.

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PROP

Second, backers of Proposition 15 apparently had not done all their homework given that they had not considered the damage “split roll” would inflict on all businesses, not just large corporations. The vast majority of small businesses rent their property under the terms of a “triple net lease,” leaving them on the hook for all the tax hikes imposed on their landlords. Third, opposition to split roll came from places proponents should have anticipated but did not. While Proposition 15 exempted farmland, much of agricultural production relies on commercial infrastructure. Think of dairies and wineries. And, in a rare move, the normally nonpolitical California Assessors Association opposed Proposition 15 because of its absurd complexity and implementation costs.

“The normally nonpolitical California Assessors Association opposed Proposition 15 because of its absurd complexity and implementation costs.”

Fourth, voters generally, not just homeowners, believe that government wastes too much money to be given any more without significant reforms. This isn’t a partisan perception. Voters even in heavily Democratic jurisdictions have been rejecting tax and bond proposals at higher rates than in the past. Finally, there is the name itself: Proposition 13. Like it or not, Proposition 13 has almost mythical powers against those who would assail it. And the apparent defeat of the split roll proposal is only the most recent example of special interests getting burned by the “third rail” of California politics.

“Voters generally, not just homeowners, believe that government wastes too much money to be given any more without significant reforms.”

This article was published on page 5 in the Opinion section of the Orange County Register on Sunday, November 8, 2020, and distributed via email to members of the Howard Jarvis Taxpayers Association on Monday, November 9, 2020. It is being reprinted here with the expressed written permission of HJTA President Jon Coupal.

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COVER STORY

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The Installation of Lori Namazi and the 2021 Board of Directors

COVER STORY

Capping a year of firsts, Orange County REALTORS® holds its first-ever virtual Installation.

Photos by Marion Butterfield

By Sherri Butterfield Writer and Editor

On Wednesday, December 2, 2020, REALTOR® and Affiliate members of Orange County REALTORS® participated via Zoom in the virtual Installation of Lori Namazi and the 2021 Orange County REALTORS® Board of Directors. Serving as mistress of ceremonies on this occasion was Orange County REALTORS® 2020 President Danielle Corliss. Danielle declared that 2020 had been a year of firsts. “For the first time,” she explained, “we were concerned about our toilet paper supply, and parents found out that their kids’ teachers were underpaid. We learned that the word ‘Zoom’ no longer meant to go fast and how frustrating it is to wear glasses with a mask. One more first is what is happening today—our first virtual Installation—during which we will be honoring and thanking our 2020 Officers and Directors, welcoming our 2021 President and her Board of Directors, and making several well-deserved awards.” Diane Anthony (Chartwell Escrow) led the audience in reciting the Pledge of Allegiance. M. J. Porchas provided an inspirational message in which she told of rafting down the Moisie River in eastern Quebec. She described the mystery and majesty of this mighty river with its rapids and explained that, at first, Bud, the rafting guide, gave commands, which the rafters

followed without question because his sensitivity to the river was far more developed than theirs. But gradually, over time, the rafters became one with the river and knew what to do and when to do it. M.J. used this story to illustrate the difference between commanding leadership and facilitative leadership, which can occur only after the passengers have learned enough about the vagaries of the river to navigate it safely and so to become essential members of the rafting team. After thanking M.J. for her message, Danielle said, “2020 was a year of challenges, but there wasn’t a time when our Committee Chairs and Committee Members did not shine. You tried new ways of doing things, you challenged the status quo, and you succeeded against the odds. I wish that I could thank each of you personally with a big hug, but reading off your names will have to do for now”: Kerri Finch, Affiliate North; Joe Pierce, Affiliate South; Lori Namazi, Bylaws; Matt Clements, Credentials; Chip McAllister, Education; Bob Wolff, Finance; Olseya Drozdova, Global; Jay Ramos-Co, Green; John Crispo, Grievance; Tim Hayden, Independent Broker Alliance; Ron Pascual, Leadership and Personal Development; Rita Tayenaka, Leadership Academy; Matt Cortez, Local Government Relations–North; Mary Rampone, Local

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COVER STORY

Government Relations–South; Mark Bennett, Multiple Listing Service; Travis Baron, Political Affairs and Elections; Christopher Samuelson, Professional Standards; Michele Harrington, Risk Management; and Jessica Siguenza, Young Professionals Network (YPN). Danielle presented President’s Awards to her colleague Len Herman and to her husband Jim Corliss. Of the latter, she said, “You made sacrifices so that I could fulfill my dream. No words are strong enough to express my gratitude for your support.” Danielle welcomed C.A.R. Vice President and Chief Economist Leslie Appleton-Young, who had been invited to serve as installing officer. First, Leslie asked the 2020 Orange County REALTORS® Officers and Directors to stand, thanked them for their service to the Association, and declared their offices vacated.

Photos by Marion Butterfield

Next, she administered the oath of office to the following 2021 Officers and Directors: President-Elect Adam Rodell, Treasurer Joyce Endo, Immediate Past President Danielle Corliss, and Directors Mary Jane Cambria, Matt Cortez, Sandra Deering, Michele Harrington, Julie Hile, Jeff Jackson, Sherrie LeVan, Liz Lewis, Chip McAllister, Ed Molina, Charleen Nagata Newhouse, Pam Pedego, Joe Pierce, Vinil Ramchandran, Lacy Robertson, Lisa Shulz, Jessica Siguenza, Lynne Suzanski, and Scott White.

Leslie administered the oath of office to Lori Namazi and proclaimed her to have been duly installed as the 2021 President of Orange County REALTORS®. Then, Lisa Dunn, Orange County REALTORS® 2014–2015 Treasurer and Lori’s business partner, pinned on Lori the Commemorative President’s Pin.

Danielle returned to the microphone to thank Leslie and to announce the recipients of the prestigious Leadership Legacy Award: Sandra Deering, Nancy Hunt, and Mary Aileen Matheis (see the story on page 41 in this issue of OC REALTOR®). Scott Hunt accepted the award on behalf of his mother Nancy, saying, “My mom did real estate for over forty years. It was her life.” Next, Danielle announced the Of the Year Awards, beginning with the Committee of the Year, of which there were five: Education, Global Business Alliance, Professional Standards, Risk Management, and the Young Professionals Network. Photos by Marion Butterfield

Then, 2019 Affiliate of the Year North Kimberly Mazzo (the Mazzo Group) announced that Nigel Etem (Nigel Etem Media) was the 2020 Affiliate of the Year North, and 2019 Affiliate of the Year South Aaron Rosen (Arc 23 Insurance)

announced that Chebel Mina (Broadview Home Loans) was the 2020 Affiliate of the Year South. “I am speechless,” said Chebel. “This means so, so much to me. It is surely a pleasure and an honor.” 30

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COVER STORY

Our 2018 Volunteer of the Year Jessica Siguenza (Finance of America Mortgage) announced that the 2020 Volunteer of the Year was Stuart Thomas (RE/MAX Select One in Huntington Beach). In response, Stuart said, “No exercise is better for the human heart than reaching down and lifting another up.” Danielle asked 2019 REALTOR® of the Year and Past President Tammy Newland-Shishido (Keller Williams Realty, Seal Beach) to announce the recipient of a new award instituted this year, the Distinguished Service Award, which was given to Spencer Hoo (the Hoo Group, RE/MAX Omega Realty) for being passionate about real estate on a global level. And finally, Tammy revealed that Joyce Endo had been chosen as the 2020 REALTOR® of the Year.

Photos by Marion Butterfield

Lori Namazi acknowledged friends and colleagues from across the county, state, and country who were present via Zoom and recognized her “longtime mentor and friend” Bill Plattos (First Team Real Estate) for having recently been named by the National Association of REALTORS® (NAR) as an Emeritus Member. In closing, she said, “I have gone down many paths I did not plan on. I will be here guiding us as we reemerge and transition in this New Year.”

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What pajama bottoms and blouse should I wear to the video call this morning? This pandemic is hard on all of us. We encounter obstacles that throw us off balance and test our inner strength. But maintaining a sense of humor and a positive outlook can make bad times better until good times return. Below, we have compiled a few comedic musings and some inspirational quotes to put a smile on your face and help you take on the challenges of today.

BY MICHELLE MCCANN

Purchasing a bunch of open house signs, that’s what you call "buyer’s remorse."

I promise to get some work done today, even if I never change out of my pjs.

Alexa, homeschool the children!

2019 Me:

If I could just have a few weeks with nothing to do, I could finally organize my CRM.

2020 Me:

Nope, that wasn’t the problem

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“I’m not working out with a mask on” is my new favorite excuse for not working out.

Quarantine has made me realize why my dog gets so excited about going for walks and car rides.

My spouse and I play this fun game during quarantine. It’s called “Why are you doing it that way?” There are no winners.

"I’m not going to the Zoom meeting if there is no free food" is my new favorite excuse for missing meetings.

One of my friends asked what it was like to be a REALTOR® during quarantine, so I texted her every 20 seconds until she started to cry.

What REALTORS® say to their clients in 2021: “Can you see yourself living here, working here, homeschooling your kids here, and pretty much never, ever leaving here?”

Back in the day, there was so much toilet paper that people literally used it to decorate the trees of their enemies.

“The secret of change is to focus all your energy not on fighting the old, but on building the new.” —Words spoken by the character Socrates in gymnast Dan Millman’s book The Way of the Peaceful Warrior (1984)

“Without great solitude, no serious work is possible.” — Pablo Picasso

“You are braver than you believe, stronger than you seem, and smarter than you think.” — A.A. Milne

"Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough."

— Oprah Winfrey

“To lose patience is to lose the battle.” —Mahatma Gandhi OC REALTOR®

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EDUCATION

If you have made a New Year’s resolution to sharpen your real estate skills, focus on professional development, and earn a new designation or two, this guide to a year of learning was custom-made for you. By Sabrina Blair DIRECTOR OF COMMUNICATIONS AND PROGRAMS

very new year comes with an opportunity to reflect, start fresh, and make plans to improve. This year, we encourage our REALTOR® members to focus on professional development and make 2021 a year of learning. And Orange County REALTORS® is here to be your personal trainer, get you pumped up, and guide you through a variety of designations and certifications to make you a better REALTOR®.

January: Commitment to Excellence (C2EX) What better way to kick off the year than to commit yourself to excellence with the National Association of REALTORS® (NAR) C2EX program! According to NAR, the Commitment to Excellence (C2EX) program is meant to “empower REALTORS® to evaluate, enhance, and showcase their highest levels of professionalism.” C2EX is a self-paced, online program consisting of eleven selfassessments to measure your proficiency in ten aspects of professionalism (eleven for brokers), ranging from customer service to the use of technology. The platform generates a customized learning path and recommends experiences and resources to enhance your individual skillset. Bonus: Completion of C2EX satisfies the Code of Ethics training requirement.

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Photos: www.istockphoto.com Melpomenem

Make 2021 a Year of Learning

EDUCATION

February, June, September, and December: At Home with Diversity® (AHWD) Diversity was a hot topic this past year, and Orange County REALTORS® wants to ensure that its members have access to resources to help them learn to work effectively with—and within—today’s diverse real estate market. The At Home With Diversity® virtual certification course teaches you how to conduct your business with sensitivity to all client profiles and build a business plan to serve them successfully. We encourage all members to attend this course, which is why we are offering it multiple times throughout the year.

March: Green Designation The Green Designation is designed for agents who are interested in learning more about issues of energy efficiency and sustainability in real estate. As a part of this certification, you will be given access to exclusive marketing tools to help you build your business and gain a comprehensive understanding of how to market homes with green features differently from the way in which you would market traditional homes. If you consider yourself eco-friendly or would like to know more about green living, this designation is for you!

April: Real Estate Negotiation Expert (RENE) Want to become a master negotiator? The Real Estate Negotiation Expert (RENE) certification is for real estate professionals who want to sharpen their negotiating skills and provides REALTORS® with the tips and tools they need to be skillful advocates for their clients. If you want to learn how to deal with a variety of personalities as well as situations, you should consider this certification.

May: Accredited Buyer's Representative (ABR) Calling all new REALTORS®! The Accredited Buyer’s Representative (ABR®) designation is perfect for new agents who are working solely with buyers. While earning the ABR® designation, you will receive instruction that elevates your skills and knowledge in the eyes of home buyers. Master the art of working with buyers by earning your ABR® designation in May!

July: Certified International Property Specialist (CIPS) Why only think local? With a Certified Property Specialist (CIPS) designation, you can develop and grow your international real estate business. The CIPS designation will provide you with the knowledge, research, network, and tools to globalize your business. As a CIPS designee, you will be connected to a network of more than 3,500 real estate professionals who turn to one another first when looking for global referral partners.

August: Short Sales & Foreclosure Resource (SFR) Given the current unemployment rates, 2021 may see the return of short sales and foreclosures. If that proves to be true, it might be in your best business interest to earn the SFR® certification. This course teaches real estate professionals how to work with distressed sellers and the finance, tax, and legal professionals who can help them, qualify sellers for short sales, develop a short sale package, negotiate with lenders, safeguard your commission, limit risk, and protect buyers.

October: Certified Real Estate Brokerage Manager (CRB) If you are an owner, broker, manager, or supervisor, the Certified Real Estate Brokerage Manager (CRB) is where you can shine! It is awarded to REALTORS ® who have completed advanced educational and professional requirements. This designation will help you streamline your operations, integrate new technology, adjust to trends, and apply new business strategies to your company.

November: Military Relocation Professional (MRP)

Support our veterans by obtaining your Military Relocation Professional (MRP) certification. This certification is for agents who want to work with current and former military service members. The MRP certification program educates REALTORS® about working with U.S. service members and veterans to find the housing solutions that best suit their needs while taking full advantage of available benefits and support. To learn more about these course offerings, visit www.ocrealtors.org/learning. OC REALTOR®

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NAR NEWS

2020: The Year of Turning An Interview with Vince Malta, 2021 Immediate Past President of the National Association of REALTORS® By Tiffany Gardner Wood

Photo by Marion Butterfield

Risk Manager

Vince Malta, a REALTOR® in San Francisco, California, is the 2021 Immediate Past President of the National Association of REALTORS® (NAR). The CEO and broker of Malta & Co., Inc., Vince has been in the real estate business for forty-four years and has served the industry in countless roles. Vince has testified before Congress on behalf of NAR many times regarding multiple issues, including the impact of increasing conforming loan limits, insurance reform, and housing policy. On the national level, Vince has served on the NAR Board of Directors since 2002 and was the 2010 and 2011 Vice President of Government Affairs. As NAR’s 2020 President, he led the Association and the industry through the COVID-19 pandemic.

No one can deny that 2020 was a challenging year. How did you adapt? We have been through a lot this year, but the REALTOR® team has never been stronger—thanks to all the members. If 2020 has taught us anything, it is that, with resilience, adaptability, and collaboration, we can accomplish anything. Working together, we helped elect REALTOR® champions; we successfully advocated for real estate as an essential service during times of crisis; we provided business-critical resources to our members in a time of need; we are leading the way on fair housing and on promoting diversity and inclusion; and we have shown that the real estate industry is a fundamental driver of our economy.

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What hot topics are being discussed at the national and state levels and what are the coming “need-to-know” changes? The hot topics being discussed at the national and state levels include fair housing, Multiple Listing Service (MLS) changes, the NAR partnership with Buffini & Co., the NAR/ AARP Partnership, the REALTORS® Are Good Neighbors Campaign, and the American Property Owners Alliance. Fair Housing: The ACT Plan. In January, NAR Leadership debuted the ACT Plan to ensure that America’s 1.4 million REALTORS® are doing everything possible to protect housing rights in America. In this instance, ACT is an acronym created from the first letters of the words Accountability, Culture Change, and Training. During the Conference, NAR released one of its newest initiatives under the ACT Plan, a fair housing simulation training platform developed with Ernst & Young Learning Labs, which also created C2EX. The simulation takes REALTORS® to the fictional town of Fairhaven, where they must work against the clock to close deals as they encounter scenarios in which discrimination could affect a transaction. Participants receive feedback regarding their performance and resources designed to help them stop discrimination and implement fair housing best practices in their work. The program also includes testimonials about real-life instances of discrimination. For more information about this program, visit fairhaven.realtor. MLS Changes Approved by the Board of Directors. NAR’s Board of Directors approved recommendations to bring more consistent standards to REALTOR®-owned MLSs across the country. Among these recommendations are the following: • Participants are required to submit accurate listing data to MLSs and correct known errors promptly. • MLSs must display customer service and technical support contact information on their websites.

NAR NEWS

Challenges into Opportunities IBA Committee Forum Participants Discuss “Turning Challenges into Opportunity”

Photo by Marion Butterfield

On December 8, 2020, the Orange County REALTORS® Independent Broker Alliance (IBA) Committee hosted a virtual forum to discuss “Turning Challenges into Opportunity.” Participating in that forum were National Association of REALTORS® 2021 Immediate Past President Vince Malta, California Association of REALTORS® 2021 President-Elect Otto Catrina, Orange County REALTORS® 2021 Immediate Past President Danielle Corliss, and Orange County REALTORS® 2021 President Lori Namazi. The interview on these pages incorporates some of the ideas that were expressed during that discussion.

• MLSs must have a process for identifying potential fair housing violations in their listing content and advising participants and subscribers to remove or correct them.

Under these new rules, MLS participants and subscribers who receive more than three administrative sanctions in a year will be required to attend hearings for subsequent infractions. Also, their broker will be notified and will need to attend any hearing. MLSs must have an option for processing complaints without revealing the complainant’s name. The new rules take effect on January 1, 2021, and the deadline for local implementation is March 1, 2021. 100 Days to Greatness® Training Program. As part of our commitment to members’ success, NAR, through its REALTOR Benefits® Program, recently announced a new partnership with Buffini & Company providing NAR members access to this fourteen-week course at a special price. Led by real estate legend Brian Buffini, the course’s twenty-one modules of video training include NAR resources to help new members build their businesses. Brokers can also offer the course as a companion training to support their new-agent onboarding program and serve as a Buffini-Certified Mentor or Facilitator. For more information about this program, visit nar.realtor/buffini. NAR/AARP Partnership. NAR and the American Association of Retired Persons (AARP) have announced a partnership that integrates AARP’s Livability Index data into the REALTORS® Property Resource (RPR) website and mobile app. The partnership will help inform NAR members

of the community factors—like transportation and health care—that best support people as they age. And it will help people better understand their housing needs not only in their senior years but also over a lifetime. For more information about this partnership, visit narrpr.com. REALTORS® Are Good Neighbors Campaign. I am sure that many of you are familiar with the annual Good Neighbor Awards, which recognize exceptional charitable contributions made by REALTORS®; but an annual award is not sufficient to acknowledge members’ tremendous impact day in and day out. The new “REALTORS® Are Good Neighbors” campaign will recognize the 365-day-a-year commitment of REALTORS®. So how can you get involved? • Follow “REALTORS® Are Good Neighbors” on Facebook and Instagram. Search REALTORS® Are Good Neighbors” on both sites to find and join the feeds. Visit nar.realtor/rgn. • Share your story to remind your clients, friends, and family how much REALTORS® do to make the world a better place and inspire others. • Aid NAR’s effort to track the hours REALTORS® volunteer as part of this campaign. We think we can easily meet a goal of five million hours. This tracker will quantify what members already do, inspire others, and demonstrate members’ immense community influence. Documenting our good work is powerful PR, and good news is something people like to share.

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NAR NEWS American Property Owners Alliance. NAR and property owners’ interests have always been entwined. Late last year, NAR launched the American Property Owners Alliance, a nonprofit, nonpartisan organization that will advocate for millions of property owners regarding federal legislation, policies, and regulations that affect ownership. It covers ownership of all property— homes, land, and commercial real estate. Visit propertyownersalliance.org. The Alliance is funded by NAR, but it operates as a separate entity with its own board to make decisions solely in the interest of its constituents. Already, the Alliance’s consumer database is 10 million strong. One of its critical tasks will be to educate and remind lawmakers—including the many new legislators joining the next Congress— about property owners’ priorities. Property ownership is essential to strong communities throughout the country.

Can you tell our members more about the Code of Ethics change regarding discriminatory speech?

Property ownership is

essential

to strong communities throughout the country.

I am so proud of both our members and our Board of What changes can we expect from the market Directors for taking this historic step to strengthen the in 2021, given the challenges faced in 2020? commitment of REALTORS® to upholding fair housing ideals. The Board approved a series of recommendations Despite 2020’s challenges, we have many reasons to be from NAR’s Professional Standards Committee that extend optimistic. One reason is that the housing market came the application of Article 10 to discriminatory speech and roaring back after the initial lockdown. NAR’s October conduct outside members’ real estate practices. existing-home sales report (the latest available at press time) shows that sales were up 4.3 percent from September—and The new Standard of Practice 10-5 states, “REALTORS® up almost 27 percent from one year ago. The median existingmust not use harassing speech, hate speech, epithets, home price in October was also up almost 16 percent from or slurs” against any protected classes under Article 10. the same time last year. Pending home sales saw a small The protected classes under Article 10 are race, color, drop from September to October, but contract signings are religion, sex, handicap, familial status, national origin, up more than 20 percent compared to a year ago. There sexual orientation, and gender identity. are even hopeful signs for commercial, with economists and analysts predicting improved growth or return rates in retail, The Board also approved a change to the Arbitration multifamily, and office space by 2022. Manual to help Professional Standards panels apply the new standard. Although the Board made these changes effective Then there is the residential supply side. Total housing immediately, they cannot be applied to speech or conduct that inventory at the end of October was down almost 20 percent occurred before the new standard was adopted. from one year ago. Without more new construction, and as prices rise along with demand, it will be harder for first-time NAR will soon roll out training materials and resources buyers to afford a home. to assist leaders with understanding and implementing the changes. In terms of supervision, NAR’s professional standards policies include a defined process of checks and balances to protect members and evaluate potential Code violations. For all things Code related, visit nar.realtor/code-of-ethics.

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NAR NEWS What is ahead for residential? We are in uncharted economic territory to be sure, but NAR Chief Economist Lawrence Yun says the sales surge is sustainable, as long as mortgage rates remain low, job gains continue, and there is progress toward a vaccine. At the end of November, mortgage applications were up 27 percent over the year before, indicating that there are plenty of buyers waiting to enter the marketplace. Those strong pending contracts numbers I mentioned suggest we might have one of the best winters for sales. In fact, home sales in 2020 could finish higher than they did in 2019. In 2021, existing-home sales could reach nearly six million, or 9 percent more than in 2020. Finally, there has been a lot of wealth accumulation over the past few years. If home prices go down, there is a sizable buffer for homeowners to absorb modest price declines. U.S. housing equity is at an all-time high.

What is being done on the national and state level to ease the housing shortage in the short term? NAR is actively exploring ways to alleviate the inventory shortage. During the REALTORS® Conference & Expo in November, our Board of Directors approved two motions to support alternative federal tax policies intended to bring more residential units to the market. The first motion allows NAR’s Advocacy team to explore proposals to reduce the tax burden on locked-in homeowners, the folks who are unable to sell because the gain on their sale would exceed the capital gains exclusion. It is a big issue in California and becoming more so around the country because the exclusion was never indexed for inflation. The 1.7 million locked-in households are expected to double by 2030 and triple by 2040. The second motion lets NAR explore policies that could help generate units through various tax credits. Those could include credits to reduce the cost of converting commercial properties to residential, and to encourage the hiring and training of residential construction workers. Our Advocacy team will be working proactively on these and many other policies, including a homeownership tax credit and rental assistance. For more information about the programs and policies discussed, visit nar.realtor.

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MEMBERSHIP Members of Orange County REALTORS® Who Have Achieved NAR REALTOR® Emeritus Status REALTOR® Members of Orange County REALTORS® Who Have Been Elected C.A.R. Honorary Members-for-Life REALTOR® and REALTOR® Associate members of the California Association of REALTORS® (C.A.R.) who have served the Association for a minimum of twenty-five years and who have attained the age of seventy-five are eligible to be elected Honorary Members-for-Life. Upon election, an Honorary Member-for-Life is exempt from paying annual dues to the California Association of REALTORS® (commencing with the year following election) and is entitled to all the rights and privileges of C.A.R. membership.

Orange County REALTORS® congratulates the following twenty-three members, each of whom has been elected a C.A.R. Honorary Member-for-Life: Adelle “Katie” Amirsolaimani, Regency Real Estate Brokers Dennis Asbury, Asbury Brokerage Services Thomas Berndt, Coldwell Banker Realty Lynn Bianco, Lynn Bianco, REALTOR® Alan Brough, Riviera Coast Properties Ronald Bunte, First Team Real Estate Nita Desai, Berkshire Hathaway HomeService Frank DiLauro, Regency Real Estate Brokers Beth Dudas, Luxre Realty, Inc. Ardelle Hall, First Team Real Estate Heidi Hoeschele, Stephanie Hoeschele Mark Lambert, Realty One Group West Patricia “Pat” Lister, HomeSmart, Evergreen Realty Michael Mathis, HomeSmart, Evergreen Realty Evelyn Newey, Evelyn Newey, Broker Elinor Newman, Coldwell Banker Realty Kenneth Olsen, Ken Olsen, Broker Janet Panichi, Coldwell Banker Realty R. Marie Paquette, First Team Real Estate Carol Sharp, Coldwell Banker Realty Carole Sturim, Coldwell Banker Realty Joseph “Joe” Tringale, HomeSmart, Evergreen Realty Jack Tucker, Preferred Investments Real Estate

To be eligible for National Association of REALTORS® (NAR) Emeritus Status, a person must have held continuous membership as a REALTOR® or REALTOR®-Associate in one or more Associations of REALTORS® for a cumulative period of forty years and must have completed at least one year of service at the National Association level. In this context, the term service is defined as “serving as an officer, director, committee member, federal political coordinator, president’s liaison, or regional coordinator to a country with which NAR holds a reciprocal agreement.” REALTOR® Emeritus Members are exempt from paying dues to the National Association of REALTORS® (commencing with the dues year immediately following approval) and from the Code of Ethics Training requirement.

Orange County REALTORS® congratulates the following four REALTOR® Emeritus Members: Carol Kokol, RE/MAX Premier Realty Anne Moell, First Team Real Estate Barbara Nash, Keller Williams Realty Irvine Bill Plattos, First Team Real Estate

Affiliate Members of Orange County REALTORS® Who Have Been Elected Affiliate Members-for-Life Affiliates members who have served the Association for a minimum of twenty-five years cumulative are eligible to be elected Affiliate Members-for-Life.

Orange County REALTORS® congratulates the following Affiliate member who has been named an Affiliate Member-for-Life: Daniel Kun, Daniel J. Kun Insurance Agency

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LEADERSHIP

Three REALTOR® Members Receive Leadership Legacy Awards By Sherri Butterfield In 2017, Orange County REALTORS® established the Leadership Legacy Award to recognize members who demonstrate, in the words of Peter Drucker, the ability to “lift a person’s vision to higher sights, raise a person’s performance to a higher standard, and build a personality beyond its normal limitations.” Recipients of this award must have, during an extended period, exceeded expectations and gone well above and beyond to serve both the real estate industry and the wider community. At the Installation of 2021 Officers and Directors on December 2, Orange County REALTORS® announced the names of the three most recent recipients of its Leadership Legacy Award. They are Sandra Deering, Nancy Hunt, and Mary Aileen Matheis.

Sandra Deering has been an active REALTOR® since 1977 and has served as Broker of Record for Coldwell Banker, Southern California, since 2008. Even while overseeing the efforts of thousands of agents at Coldwell Banker, she found time to serve on the Orange County REALTORS® Board of Directors and on its Risk Management, Professional Standards, and Orientation Committees. In these and other capacities, Sandra shared her considerable wisdom with countless members regardless of their company affiliation. Also, she helped author the original Orange County Local Area Disclosure form and was a member of the California Association of REALTORS® Task Force that rewrote the Residential Purchase Agreement (RPA) for release in 2020.

Mary Aileen Matheis has been a REALTOR® member of Orange County REALTORS® for more than forty years and was named REALTOR® of the Year in 1998. Appointed to fill an unexpired term on the Irvine Ranch Water District Board of Directors in 1988, she was elected to that board in 1992 and served until 2020. A lawyer and member of the Orange County Bar Association, she has been admitted to practice in the U.S. Supreme Court. Mary Aileen has generously volunteered her time to serve on the Association’s Political Action and Elections, Professional Standards, and Education Committees, and has represented Orange County REALTORS® as a Director for both the National Association of REALTORS® and the California Association of REALTORS®.

Nancy Hunt was President of Orange County REALTORS® in both 1995 and 1996 and was named REALTOR®. of the Year in 1995. She has served on the Orange County REALTORS® Board of Directors and on many of its committees, including Political Action and Elections, Education, Local Government Relations, and Bylaws. From 1988 through 2016, Nancy served as a Federal District Coordinator and, in this capacity, worked with legislators on issues that included taxation, fair housing, FHA and VA financing, and flood insurance. On May 2, 2018, the California Association of REALTORS® honored Nancy with its Key Contact/ Federal Political Contact Emeritus Award. In addition to her work in real estate, Nancy was deeply involved in her community. She was one of twenty-five local citizens who helped write the General Plan for the City of San Clemente and served on the San Clemente Chamber of Commerce Board Directors. Because Nancy passed away in May 2020, her son Scott Hunt accepted the Leadership Legacy Award on her behalf.

Previous recipients of the Leadership Legacy Award include Orange County REALTORS® Past Presidents Rita Tayenaka and Barbara Delgleize. Among other accomplishments, Rita established the Orange County REALTORS® Leadership Academy. While serving the Association as President in 2005, Barbara was instrumental in founding the member relief fund OCAR Cares. She was elected to the Huntington Beach City Council in 2014 and served that city as mayor in 2016.

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EVENTS

Affiliate Appreciation PARTY NORTH

Photo by Marion Butterfield

THURSDAY, DECEMBER 3

Although the Affiliate parties this year were virtual, the appreciation was actual and heartfelt. “Even in a tough year, you Affiliates helped us,” said Orange County REALTORS® 2020 President Danielle Corliss. “You are the people we trust to help us with our business.” “It’s been a wonderful year,” added Affiliate South Chair Joe Pierce (Iron Key Escrow). “I give a lot of credit to everyone for mindset and attitude. Everyone is there to support everyone else. I just want to say thank you. Keep up the good work. It is noticed. And you are appreciated!”

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Party guests chatted and played Spin the Wheel. Lucky winners included Mark Buhler, Lori Jones, Maureen Crowley, Yami Martinez, Bryan Ahn, and Richard Reza.

Affiliate Appreciation

EVENTS

PARTY SOUTH

Photo by Marion Butterfield

MONDAY, DECEMBER 7

Even though COVID-19 prevented REALTORS® and Affiliates from gathering in person, Orange County REALTORS® Meetings and Events Director Zhipi McDougald devised a virtual solution that provided Affiliates with an opportunity to see one another and gave REALTORS® an opportunity to express their gratitude for a job well done during a difficult year. Orange County REALTORS® 2020 President Danielle Corliss said, “Even amid the pandemic, you Affiliates continued to show up and to be there for us. Together, we have turned a challenging year into something we can be proud of.”

Party guests chatted and played Trivia, discovering in the process that the first toy advertised on television was Playskool’s Mr. Potato Head, that brown is the rarest color among M&Ms, and that one thing William Shakespeare, Salvador Dali, and Samuel Clemens (aka Mark Twain) have in common is that all three were notaries!

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AFFILIATES IN ACTION

AFFILIATES HELP EDUCATE Reem

NEW

Jay

KurdMisto

Engel

Rick

Paolo

Reza

Biancalani

REALTOR® Van Gordon

Joe Joe

Pierce Pierce

MEMBERS Kerri Finch

IN DECEMBER Because of the limitations placed on group gatherings during the COVID-19 pandemic, Orange County REALTORS® is offering its regular New REALTOR® Orientations online.

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A special thank you to the following Affiliates who provided short video clips to help educate the new REALTOR® members who joined Orange County REALTORS ® in December: Affiliate South Chair Joe Pierce, Iron Key Escrow; Affiliate South Co-Chair Reem KurdMisto, National Pacific Lending; Affiliate North Chair Kerri Finch, J&J Coastal Lending; Affiliate North Co-Chair Van Gordon, Van Gordon Insurance Agency; Jay Engel, Pillar to Post; Paolo Biancalani, Preview First; and Rick Reza, Huntington Beach Capital Partners.

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Mentions Danielle, I enjoyed your “Look for a Silver Lining” theme for your President’s Message in the November/December issue of OC REALTOR ® magazine. Our mom was often melancholic in mood and a gifted musician and singer. I remember her singing this and other Judy Garland songs like this whenever there was an audience. You are completing a positive year at Orange County REALTORS® and kept my attention with this and other positive messages. Thanks for being my friend and an excellent leader at Orange County REALTORS®. Best wishes to you in everything you want to do. Harrison K. Long HomeSmart Evergreen Realty EDITOR’S NOTE: Harrison is writing to Orange County REALTORS® 2020 President Danielle Corliss about the President’s Message that appeared in the November/December 2020 issue of OC REALTOR®. The theme for that issue was “Finding the Silver Lining.” Danielle’s retrospective message titled “Looking Back Over an Extraordinary Year” appeared on pages 8–9.

Thank You for Inviting Me Dear Olesya, Thank you for inviting me to attend the Global Business Alliance (GBA) Committee meetings. It was great to learn about the goal and purpose of the GBA. Honestly, I was not familiar with the GBA agenda prior to the meeting, and it was really enlightening. During the last meeting, you asked attendees to write about what GBA means to us. I was not sure if this applied to me, as a guest, but why not. What it means to me? I had not really heard much about GBA until I did some research into taking my real estate career to the next level. I took into account my foreign roots as well as my familiarity with foreign cultures. GBA is a great opportunity for me to expand my knowledge about global real estate business. It is not just an opportunity to make sales; it is an opportunity to be part of something bigger and to have an impact on the real estate globally, while expanding my knowledge and building lasting relationships. A big part of me is a will to educate. I believe that GBA is making a great impact in this field, not only by spreading general knowledge about global real estate opportunities but also by promoting individual unique markets. I am excited about the upcoming video project, introducing the GBA and its impact on communities and offering a warm welcome to our amazing Southern California. I am really looking forward to a fruitful 2021. With so many projects, I am quite sure it will be the best one yet for the GBA. I would be honored to be part of its success. Sincerely, Jola Cook Fathom Realty Group, Inc. EDITOR’S NOTE: Jola’s email was addressed to Olesya Drozdova, who chairs the Orange County REALTORS® Global Business Alliance Committee.

CALL FOR MENTIONS Media postings and emails intended for possible publication in this magazine should be sent either to Director of Communications and Programs Sabrina Blair at Sabrina@ocrealtors.org or to Writer and Editor Sherri Butterfield at Sherri@ocrealtors.org. All written material may be edited for content, length, or style and may appear either online or in print. Emails become the property of Orange County REALTORS®. Although some may be answered, none will be returned. OC REALTOR®

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Photos: www.istockphoto.com/fcafotodigital

I Enjoyed Your “Silver Lining” Theme

MENTIONS