Upcoming Events:
Get Tickets Now for 2011 Housing Forecast; limited availability n 2nd annual forecast to be held on Jan. 13
tively. The program will run from 9 to 11:30 a.m.
at the Renaissance Austin Hotel
Event attendees will hear insights about the local and na-
Hear from real estate industry experts at the 2011 Housing Forecast on Jan. 13, hosted by the Austin Board of REALTORS® (ABoR) and the Home Builders Association (HBA) of Greater Austin. This year’s forecast will take place at the Renaissance Austin Hotel. Registration begins at 7:30 a.m. Coffee and breakfast will take place at 8 a.m. and 8:30 a.m. respec-
tional housing markets and the economy. Below, learn more about the 2011 Housing Forecast speakers. Individual tickets cost $65. Included in the ticket price is a seated breakfast. Tickets can be purchased at www.AustinHomeBuilders.com
(HBA
members)
or
www.ABoR.com/forecast (ABoR members). For more information, contact Shirley Williams in ABoR’s Education Department by phone at 454-7636, ext. 1603 or by e-mail at swilliams@abor.com. RL
December 22-January 3 Realty Line office is Closed Merry Christmas and Happy New Year! January 13 2nd Annual Housing Forecast Renaissance Austin Hotel - 7:30 to 11:30 a.m. February 11 HBA 2nd Annual Chili Cookoff, Horseshoe Tournament, Silent Auction Travis County Expo Center - 5 to 10 p.m. February 15 & 16 RE/MAX Statewide Convention Austin Hilton & Convention Center February 16 CRS Luncheon Westwood Country Club - 11:30 a.m. to 1 p.m.
—Associates—
In Progress DECEMBER 2010 • VOL. 15 • ISSUE 8
Pu tting a Fa ce on Real Estate since 1995
Industry leaders and achievers honored at organization installations
A
my involvement with all these ABoR affiliated industry organizations. I love the directors and staff I work with individuals who recently earned top honors at ABoR. Every time I have an idea or need assistance from the Austin Board of REALTORS® (ABoR) and the to accomplishing my event goals, they are right there Williamson County Association of REALTORS® to support me. Just as with every organization, there (WCAoR). Here is what they had to say about being rec- is room to grow and I believe that ABoR is constantly ognized for their contributions and achievements and reaching out to its members to find ways to improve, change and grow into a more useful tool/support/rewhy these organizations are important to them. source system to help provide value to its ABoR Winners members. Change takes time but they are listening to REALTOR® OF THE YEAR: “Getting nominated what the members are saying.” — Alisa LeBlanc of was a great honor for me because getting nominated North American Title COMMUNITY SERVICE AWARD: “I think I was means that you have the potential to be a winner. It is such an honor to receive this prestigious award. It’s chosen because my colleagues know my passion in overwhelming; I am humbled by this recognition, es- volunteering with the Pancreatic Cancer Action Netpecially due to the fact that it comes from my fellow work. I consider my volunteer work in leading the REALTORS®. None of this could have been made pos- Austin Affiliate and being involved at a national level sible without the amazing support that I have sur- to be my legacy. Because 94 percent of those diagrounding me on a daily basis.” — Jay Gohil of Jay Gohil nosed with pancreatic cancer die in the first year, it is important for those of us who live on to become an adRealty AFFILIATE OF THE YEAR: “I apparently was vocate for them so we can find an early detection nominated by my peers/clients for this award due to method and eventually a cure.” — Greg Petrosewicz of Cardani Group, REALTORS® Presorted Standard CULTURAL AWAREU.S. Postage NESS AWARD: “I was born PAID Austin, Texas in Taipei, Taiwan, and Paid Permit #715 adopted by ScandinaP. O. Box 81366 Austin, Texas 78708-1366 vian/German/English parents-family. I've lived all over the US/Asia/Europe and all my friends, clients and colleagues are of diverse ethnic backgrounds, which makes me more aware of various cultures. You can visit us online 24/7 at www.realtylineonline.com My personal motto is to s 2010 comes to a close, Realty Line would like
to extend the spotlight a little longer on the
make a positive impact in the lives of others whether it be family, real estate, community work etc. In a nutshell, a community servant is part of who I am. This award shows I must be on the right track!” — Paula Hui of Texas Platinum Properties ROOKIE OF THE YEAR: “Being somewhat new to this industry, I had no idea how what I was doing compared to other new REALTORS®. The nominating committee was looking for more than just production numbers for my award. They wanted to see community involvement, participation in ABoR committees and continuing education efforts, as well. Fortunately, I met all their criteria and had wonderful recommendations from clients and colleagues in support of my nomination. I am very honored for their recognition.” — Teresa Roberson of Roberson Residential, a PLR Co. SALESPERSON OF THE YEAR: “I was somewhat surprised since I received the same award 19 years ago but I do understand that some anonymous person nominated me and that is an honor in itself. Then to have the committee decide that I was the best recipient from the nominations received was also very rewarding. But I also realize that there are a lot of agents out there that are equally as qualified and I am humbled to think of all their contributions to this industry. If anything I am grateful to have found such a great career choice for me and so thankful that I have been able to do it for 33 years and can hopefully continue for many more years.” — Diane Kennedy of Coldwell Banker United, REALTORS® WCAoR Winners REALTOR® OF THE YEAR: “I was completely surprised and shocked when I won. Some of the other nominees are people that I have admired and learned
Front page: Continued on page 2
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Realty Line Austin
December 2010
Continued from Front page from and the fact that I have only been doing this career for the past three years and a couple of months led me to believe that I didn't have a chance. This economy has been quite challenging, but with hard work, perseverance, networking, building client relationships and following through I was able to surpass the goals I set out to reach for this year. I also believe that making a commitment to support and volunteer my time and talents in helping WCAoR, the newer agents at JB Goodwin through an intern program, teaching and participating on Agent Council as well as volunteering in my community to help where I can to make a little difference might also have helped me receive this award.” — Leisa Ormsbee of JB Goodwin, REALTORS® ROOKIE OF THE YEAR: “I believe I won because of my commitment to my education as a REALTOR®, working with a solid team/office and available experienced Broker, and being the go to person
for my clients no matter what their question, their worries or needs are. Being a REALTOR® is a grave responsibility and if you are able to be a resource and not just a REALTOR® then you are truly representing them in every sale. I knew my commitments to being a REALTOR® I would want to work with were strong, but I was not sure that would translate into a win.” — Sally Decelis of RE/MAX Round Rock AFFILIATE OF THE YEAR: “I honestly don't know why I won as there were many other affiliates who worked very hard for the association this year. What I can say is that being on the board has been both very interesting (seeing how associations work and the critical role they fill in helping agents conduct business) and rewarding because of the great group of fellow directors I met and worked side by side with. I have made some great friends and gained a lot of appreciation for the REALTOR® industry.” — David Tandy of Gracy Title RL
All photographs, press releases and article submissions can be e-mailed to: realtyline@austin.rr.com Realty Line Austin is published monthly by Caxton Publications, Inc.© as a non-subscription publication for the more than 8,000 members of the Austin Board of REALTORS® (ABoR), the more than 1,100 members of the Williamson County Association of REALTORS® (WCAoR) and the Home Builders Association (HBA) of Greater Austin. Caxton Publications, Inc.© dba Realty Line Austin is an active member of the Austin Board of REALTORS®, the Williamson County Association of REALTORS® and is a honorary member of WCR. Caxton Publications, Inc.© dba Realty Line Austin is not responsible for opinions or facts expressed by non-staff writers or for errors and any by-products in advertising or editorial copy. REALTOR® is a registered trademark. The word REALTOR® sometimes appears in this publication without the registered trademark symbol (®), for the purpose of saving space. Wherever the word REALTOR® appears in this publication, the registered trademark should be assumed.
Doren L. Carver PUBLISHER Tawanna K. Carver MANAGING EDITOR Stacy Stroud CONTRIBUTING WRITER Linda McNabb CONTRIBUTING EDITOR/WRITER/PHOTOGRAPHER COLUMNISTS John Horton, ABoR Chairman Hank Smith, HBA President J. Rene Ward, WCAoR President Latra Szal, Gracy Title
P. O. Box 81366, Austin, Texas 78708 Office: (512) 821-1900 www.realtylineonline.com
A PUBLICATION OF CAXTON PUBLICATIONS, INC.©
Nancy Southworth and Jay Southworth of Independence Title host the 6th annual REALTOR chili cook off at the company’s parking lot in Round Rock. It benefited emergency shelter and foster care programs.
Mark Minchew of RE/MAX Austin Associates asks the CRS officers and directors to raise their right hand as he installs them into their new positions at the organization’s meeting at the Westwood Country Club.
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REASONS S TO O ATTE T ND
ABoR ACADEMY
1
Quality Educational Offering on To opics You Care About
2
Discounted d Pric cess on Cours fo or ABoR Members
3
Top-Notch h Instr IInstructors Teach h You u What You Need d to o Know
4
Convenientt Loca Loc tion Open nt Serve Yo ou
5
Supplemental Offeringss tha Bring You Added ed d Value
THE the 2011 2011 LEADERSHIP Leadersh Leadership Leader shhip ACADEMY AAcademy cademyDEADLINE deadlineeISisAPPROACHING. approching. appr oching. MakeSURE suree YOU sur you HAVE have ha ve YOUR your application iIN n by 10 MAKE APPLICATION in BY January JANUARY 10! 10!!
A C A D E MY MY
Learn earn n more and d registerr fo orr a classs online www.abor.com/e educatio educa tion n orr call today oday y at www.abor.com/e the Education Departmentt at 512-454-7636.
ff
December 2010
Realty Line Austin
Austin Board of REALTORS®
Chairman’s Column John Horton n 2010 Chairman
Market Conditions, Expectations for 2011 on Housing Forecast Agenda
A
re you ready to learn from the
real estate experts about what the future holds for the local
and national housing markets? Join the Austin Board of REALTORS® and the Home Builders Association (HBA) of Greater Austin at the 2011 Housing Forecast and garner your knowledge from the industry experts,
including
Eldon
Rude,
Susan
Davenport and John Duca. Scheduled for Jan. 13, the Housing Forecast will take place at the Renaissance Austin Hotel, located at 9721 Arboretum Boulevard. Registration begins at 7:30 a.m. with breakfast at 8:30 a.m. and the program kicking off at 9 a.m. Tickets are still available and cost $65. Seating is limited, so purchase your ticket today!
For more information about this mustattend event and to purchase your tickets, visit www.abor.com/forecast. Financials Tools for REALTORS® at Federal Credit Union In these economic times, financial se-
curity is a priority on most everybody’s mind. The National Association of REALTORS® (NAR) has lent a helping hand to real estate professionals by partnering with the REALTORS® Federal Credit Union (REALTORS® FCU) as an NAR REALTOR® Benefits Program participant. REALTORS® FCU was developed particularly with REALTORS® in mind and works to provide you with the financial tools you need. REALTORS® FCU members have access to a wide range of financial tools, such as debt management consultation, identity theft solutions and credit report reviews. In addition, an array of banking tools are available, allowing members to make deposits, pay bills and view recent statements. These resources are offered exclusively through the REALTORS® FCU Web site, making this the first credit union that operates entirely through the Internet. Members of REALTORS® FCU may
also be eligible to apply for the Horizon Loan, which grants approved individuals up to $5,000 cash at a fixed rate that may be as low as 10.9 percent APR. Horizon Loans are only available for a limited time, so consider joining the REALTORS® FCU today to take advantage of this and other benefits. Becoming a credit union member is easy. Simply log on to the REALTORS® FCU Web site by visiting www.realtorsfcu.org. Next, select the Membership option in the upper left-hand corner and select the link labeled “Membership Application.” In order to gain full access to your membership, you will be required to make a minimum deposit of $100 into your newly created account with REALTORS® FCU. Once a member, you can apply for the Horizon Loan by logging into your account and selecting the “Consumer Loan Application” link on the “Accounts” tab. For more information about REALTORS® FCU, visit www.realtorsfcu.org or call their 24-hour service line at 1-866295-6038. TREPAC Investment Opportunities Earn You MCE Credit The Texas Real Estate Political Action Committee (TREPAC) kicked off its 2011 fundraising calendar year in October at the annual TREPAC Golf Tournament. Help continue the momentum by taking advantage of exciting investment oppor-
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3
tunities during the first quarter of 2011. Beginning in January, you will have the opportunity to earn mandatory continuing education (MCE) credit while investing in TREPAC. ABoR will host three special TREC Ethics MCE courses on Jan. 15, Feb. 19 and March 19, each beginning at 9 a.m. and ending at 12 p.m. As with the standard TREC Ethics MCE course, attending one of these courses will count as three of the six hours required for license renewal. However, these courses come with the added benefit of supporting TREPAC, as your $45 course payment will be invested directly to TREPAC. It’s a winwin situation for REALTORS®. You earn the MCE credit and your TREPAC investment continues to help protect private property rights and REALTOR® interests. Interested parties can register for these courses online at www.abor.com/education. In addition to enrolling in these courses, you can always make an investment in TREPAC by visiting www.abor.com/gov_affairs/trepac/. Cheers! It’s Been a Great Year! In closing, I would like to thank everyone in the real estate community and at ABoR for making 2010 a fantastic year. It has been an honor to serve as ABoR’s Chairman of the Board. I’ve enjoyed getting to know all of you throughout the year and appreciate your support for ABoR’s initiatives. Here’s to peace and prosperity for many years to come. RL
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Realty Line Austin
December 2010
Carra Elkins, Susan Brown, Doris Stout and Jeanne White get a prime spot under the tent before door prizes are drawn at Sunsets at Santa Luz, a REALTOR appreciation party hosted by Drees Custom Homes in Steiner Ranch. Doris is with Drees and Carra, Susan and Jeanne are with Amelia Bullock REALTORS.
WCR’s Faith Zimmerman, president Cheryl Jenkins and Austin Title’s Amy Kobza draw names for raffle prizes at the organization’s networking mixer at Water 2 Wine.
Brooks Colson, Bob Kowalski, Tony Ewing and Seymor Fagan, all of JB Goodwin REALTORS, collect canned goods for a local food pantry before partaking in some food of their own at the company’s annual Thanksgiving luncheon. Paula Hui of Texas Platinum Properties accepts the Cultural Awareness Award at the Austin Board of REALTORS installation and awards breakfast.
December 2010
Realty Line Austin
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Realty Line Austin
December 2010
Horizon Realty finds it is always more fun to celebrate as a group, as they gathered for the company’s Thanksgiving potluck.
David Tandy of Gracy Title accepts the award for Affiliate of the Year from outgoing WCAoR president J. Rene Ward, who is a past recipient of the award.
HBA member Lisbeth Kirsh shows team spirit at Showplace Lanes, where the HBA Sales and Marketing Council held Strike Against Hunger, a bowling tournament to raise funds for Mobile Loaves and Fishes.
December 2010
Realty Line Austin
Williamson County Assoc. of REALTORS®
President’s Column J. Rene Ward n 2010 President
An Open Letter to Victoria Reviel and all incoming Presidents, Chairpersons and Regional Coordinators
C
ongratulations! You are about to start the journey of a lifetime. You are capable, smart,
equipped, supported and prepared. Your members are hoping you are the one who will take the Association to the next level.
2011 will be a year filled with new opportunities and some disappointments—take them both in stride. Everyone wants you to succeed. Here are some recommendations from my short time as steward of this position: 1. Associations have a perpetual life. You are at the helm for such a short period. You will not be able to change everything, but leave it better than you found it. 2. Don’t try to do everything. Pick three big things and do them well. 3. Some will, some won’t, some wait—so what. Work with those who will. I have found that those who won’t or wait or complain aren’t doing any-
thing to move the organization forward, so don’t let them stop you. Don’t waste time on rumors or gossip. If it will hurt the Association confront it, stop it and move on. 4. You won’t win all the battles and sometimes the fight isn’t worth the damage to the relationship. Choose well the battles that are worth the fight. 5. Your members have placed their trust in you to make decisions on their behalf...not in your personal best interests, but in theirs. Be aware of their needs. Take time to listen to their wishes. 6. Partner with other leaders in this industry. They are some of the brightest minds in the state, if not the country. Team with them, whenever possible. It’s not finance. It’s not strategy. Nor is it technology. It is teamwork that remains the ultimate competitive advantage—both because it is so powerful and so rare.
7. Select talented people for your team. Welcome diverse opinions. Don’t be afraid of challenges. Allow them to speak truth to power. Require them to present facts and not just their opinions. “No” is not a sustainable position, it has to be backed with facts. 8. Ask a lot of questions and have a lot of discussion before you vote. A lot of your team didn’t even read the minutes from the last meeting, they just went along with the majority. Force them to think and truly represent the members. 9. Don’t allow fear to paralyze you from doing the right thing. Fear is just false evidence appearing real. Don’t just ask what is the worst thing that could happen; also ask what is the best thing that could happen? Error on the best side. 10. There are many definitions of leadership. One definition is the ability to motivate a group of people toward a common goal. I would add: while adding value, making a difference and protecting your members. Here’s my prayer for you (Victoria Reviel, Judith Bundschuh, Kay DaSilva, Cheryl Jenkins, Edmond McEnany, Jerry Heare and Alisa LeBlanc): that during your time of service, you have the wisdom to know what is right and the courage to do it. That in times of challenge and growth, you have people who inspire you and give you
T E C H
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the courage to accept your plight with grace, and that your organizations prosper because of your leadership; so at the end of 2011, we may honor you for sharing your time, your talent, and your treasures with your members. Thank you in advance for your service. On a personal note, it has been my honor to represent the Williamson County Association of REALTORS ® as your 2010 President. For this fantastic experience as President, I need to acknowledge a few people for without their steadfast support I would not have made it through the year. To the Executive Committee and Board of Directors, my gratitude for putting up with my “reach for the stars” energetic nature and sometimes over the top vision. To the staff at the Association, my heartfelt thanks for being responsive to our many members’ inquiries; you always make the members feel appreciated. To all the Committee chairs, Co-chairs, committee members, volunteers and well wishers, I thank you for your assistance throughout the year. You are what makes this Association as successful as it is today. To my Best Agents in Texas team, thanks for the unwavering support and love throughout this last year. My presidency would not have been the same without you by my side. To everyone, may you have a Happy Holiday and a Prosperous New Year! RL
S U M M I T
Austin Hilton & Convention Center • February 15 & 16, 2011
Top T op n national ational sspeakers, peakers, CRS CRS & MCE courses, courses, rrevolutionary evolutionar y MCE ttechnologies echnologies a and nd ccutting utting e edge dge breakouts b reakouts covering covering tthe he most most important rreal eal e state ttrends! rends! important estate
Join us as we honor the very best in the network. We follow it all up with a dance-until-dawn after party and CMN Charity Casino.
World class speakers and trainers will recharge you and give you the latest trends and strategies for staying on top of the market.
Zan Monroe
Dr. Rick Rigsby
Zan’s Ninja Coaching helps people raise their production and become more profitable.
Join Dr. Rigsby as he shares the wisdom of past generations to motivate, and empower you to make an impact rather than an impression!
Early Bird Hotel Discount Ends January 15th
7
Theatrical comedy & biting satire, plus party with Duck Soup, the unofficial PGA Tour party band!
Register Reg Re egi gis isster teer at a remaxtexas.com/convention rem re ema max axt xte tex exa xas as. s.co coom om/ m/c /co con onve ven enntio tiion on Eac Each h office independentl independentlyy owned owned and operated. operated.
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Realty Line Austin
December 2010
Kay Andrews and Ranae Pettijohn, both of Amelia Bullock REALTORS, get ready to check out Bridges on the Park, along with several other condos that were part of the last downtown property tour of 2010.
The sold out shopping trip to Fredericksburg that the Women’s Council of REALTORS hosted promises to be a fun getaway for these travelers.
Victor Nino, David Hooker, Warren Marshall and L.C. Nino, all of John Horton Realty, stop to enjoy the festivities at the grand opening of Reliant Title’s Round Rock office.
Leisa Ormsbee of JB Goodwin REALTORS is surprised to win REALTOR of the Year at the Williamson County Association of REALTORS installation banquet at Bella Lago at Forest Creek.
During this Holiday Season... Keller Williams Round Rock Market Center would like to give
Thanks to Everyone for the wishes, prayers and blood donated to Harry Gibbs and Avis Wukasch. Fill your heart with gratitude, take nothing for granted, enjoy the moment...
Happy Holidays! Round Rock Northwest Gene Frederick 346-3550
Southwest Diane Johnson 448-4111
Lake Travis Mary Lynne Gibbs 263-9090
Round Rock Avis Wukasch 255-5050
December 2010
Realty Line Austin
www.realtylineonline.com
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Realty Line Austin
December 2010
HBA director Mary DeWalt and bowling chairman Ty Burcham help raise funds for Mobile Loaves and Fishes at the HBA Sales and Marketing Council Strike for Hunger Bowling Tournament at Showplace Lanes.
Mary Tennant of Keller Williams Realty cuts the ribbon at the grand opening of the company’s northwest Austin office.
Diane Kennedy of Coldwell Banker United REALTORS approaches the podium to accept her award for Salesperson of the Year at the Austin Board of REALTORS installation and awards banquet at the Austin Country Club. This is the second time Diane has won this award.
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December 2010
Realty Line Austin
www.realtylineonline.com
Gracy Title
Top Workplaces There’s no “I” in Gracy
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Realty Line Austin
December 2010
Wishing you and yours a very Merry Christmas and a properous 2011!
Tawanna Carver of Realty Line shares holiday greetings with Byron “Buddy” Schilling and Tammy Garner, both of JB Goodwin REALTORS, at the 27th annual Thanksgiving luncheon at the real estate company’s office.
Margaret Gilbreth and Naomi Koury-Mecey, both of Amelia Bullock REALTORS, attend the downtown property tour, which featured several listings at The Shore Condos on Davis Street.
December 2010
Realty Line Austin
HBA of Greater Austin
President’s Column Hank Smith n 2010-11 President
New HBA President Kicks Off 2011 with Annual Housing Forecast Program, Tickets Now On Sale
A
s I take over the reins as Presi-
dent of the Home Builders Association (HBA) of Greater
Austin, one of my first major duties is cohosting the Third Annual Housing Forecast meeting on Jan. 13. The HBA and the Austin Board of REALTORS® (ABoR) are hosting this special event. If you are involved in the homebuilding industry—from sales, to marketing, to construction, to remodeling—do not miss this important program.
You will learn from real estate industry analysts about the trends from 2010 and set expectations for the year ahead. You will also gain local and national economic information to effectively plan your business strategy. We have a great speaker line up with our own HBA Board of Directors member Eldon Rude who is also the Director of the Austin Market for Metrostudy. He will moderate this year's program as well as deliver the Austin housing market forecast. Rude has earned a reputation in the
housing industry for thorough analysis and candid insight into the factors that impact the supply and demand for housing. John Duca, vice president and senior policy advisor, Federal Reserve Bank of Dallas, will speak on the national economy. Duca conducts research in macroeconomics and finance for the Federal Reserve Bank of Dallas. Since his work with the bank began in 1991, he has presented numerous briefings on the economy to the bank's president and Board of Directors. Susan Davenport, senior vice president of Global Technology Strategies at the Austin Chamber of Commerce, will discuss the significance of economic development efforts in our region in relation to job creation and the direct impact on demand in real estate. Don’t miss out on hearing from this stellar line up about what’s ahead for our housing market. This year’s forecast will be held at the
Renaissance Austin Hotel. Registration will begin at 7:30 a.m. followed by coffee and breakfast at 8 and 8:30 a.m., respectively, and the program will begin promptly at 9 a.m. Tickets are $65 per person or you can purchase a table for 10 for $550. Tickets can be bought online at www.AustinHomeBuilders.com (HBA members) or www.ABOR.com (ABoR members). Seating is limited, so buy your tickets now. Tickets are required for entry and there will be no ticket sales at the
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door. The event is also an excellent avenue to showcase your business in front of decision makers. For promotional partner opportunities, contact Debbie Horridge, 454-5588, ext. 103. Please make plans to attend this important, informative event. On behalf of the HBA, I wish you a happy holiday season and a prosperous 2011. For more information about the HBA, visit www.AustinHomeBuilders.com and the Home Builders Association of Greater Austin on Facebook. RL
Joe Stewart, 2011 chairman-elect of the Texas Association of REALTORS, installs Judith Bundschuh as chairman of the board of the Austin Board of REALTORS at the organization’s installation banquet.
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Realty Line Austin
December 2010
J.B. Goodwin of JB Goodwin REALTORS has been inviting his staff and colleagues for 27 years to an annual Thanksgiving luncheon to help kick off the holiday season with good food and treats like this company cake.
Karen Williams, center, of North American Title is proud that her daughters Sami, left, and Alyssa, right, were selling out of their scented candles and had to start taking orders at the Shop ‘Til You Drop event at the company’s Round Rock office.
Sonia Guardado, right, gives Sally Decelis of RE/MAX Round Rock the Rookie of the Year award at the Williamson County Association of REALTORS installation banquet. Sonia won the award last year.
December 2010
Realty Line Austin
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Realty Line Austin
December 2010
Cynthia Reeder, left, and CRS Lonestar Regional Director Fred Norton are pleased to give Debbie Kelsey the CRS Member of the Year Award. Cynthia is a past recipient.
Bill Evans of Austin Real Pros, with Cindie Brooks of Chicago Title, expresses his sentiments after receiving the ABoR chairman’s special award at the organization’s installation and awards banquet.
Summer Pavliska, center, encourages Mary Mealy, left, of Realty Executives, and Esmeralda Lira, right, of Texas Realty Services to enjoy the refreshments at Texas American Title’s open house in Cedar Park. Oops. Pat Zahasky, Mike Canfield and Jason Canfield, all of Keller Williams Realty, accidentally share that the special ingredient in their chili concoction is salt. They were participating in Independence Title’s 6th annual chili cook off.
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December 2010
Realty Line Austin
www.realtylineonline.com
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Realty Executives would like to welcome the following Executives to our Family: Larry Sauls
Linda Todd Claus Markussen Sherri Forbes Matt Wright
MARIE DANG-SCHWARTZ CHRIS RODRIGUEZ
(512) 431-5365
LARRY SAULS (512) 585-3830
CAROLYN ABBOTT (512) 633-7080
LINDA TODD (512) 785-8303
SUSAN BROWN (512) 844-5553
MELINDA DE ROECK DONNA DOBBS MARKETING (512) 689-1732 (512) 716-0300
CLAUS MARKUSSEN SHERRI FORBES, BROKER (512) 775-6167 (512) 422-7513
RUBY JOHNSON (512) 215-1737
MATT WRIGHT (512) 577-3676
GILBERT ALIRES SCOTT CUNNINGHAM JON OFFORD (512) 636-1019 (512) 497-6116 (512) 659-7318
LEE BAUERMEISTER RANDY MALEY (512) 569-1978 (512) 470-4390
(512) 921-1431
GARY FRAME (512) 249-8046
JOYCE SHORTER (512) 255-8940
CHERYL JENKINS (512) 699-6530
JOY HERRING (512) 659-2386
SUE BARNES (512) 300-5527
ROBERT ABBOTT (512) 627-3711
BOB INZANO (512) 423-3398
LINDA HALL (512) 250-0909
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Realty Line Austin
December 2010
Tiesa Hollaway, left, of North American Title thanks her mother Carol for her service to the military. They were at the quarterly meeting of the Williamson County Association of REALTORS where members honored service members and veterans.
Susan Patterson of Independence Title, while at the company’s 6th annual REALTOR chili cook off, gets a firsthand look at how chicken squat bingo works. Some things are better left unquestioned.
John Horton, ABoR’s chairman of the board for 2010, presents Alisa LeBlanc of North American Title with the Affiliate of the Year award at the Austin Country Club, where the organization held its installation and awards banquet.
7 7
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Happy Holidays from
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SWBC Mortgage Teams 7
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The Komm Team
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Linda Komm, VP, NMLS #219050 James Barnes, NMLS #215987 Rhona Bogie, NMLS #222089 Emily Franke, NMLS #223977 Ann Jones, NMLS #221084 Danielle Norris, NMLS #221829
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The Palmer Team
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Jim Palmer, VP, NMLS #216331 Jeff Engeling, NMLS #222024 Terry Ripperda, NMLS #218625 Todd Lessig, NMLS #221302 7
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7 The Avallon, Building 1 10415 Morado Circle, Suite 100 Austin, TX 78758
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December 2010
Realty Line Austin
Associates In Progress
www.realtylineonline.com
Advertiser Profile
themselves about today’s ever-changing
Texas real estate
mortgage and real estate market so that they
happenings.
by Stacy Stroud
can make informed, wise decisions about mortgage transactions:
Supreme Lending John McClellan
A
t the helm of Supreme Lending’s
ual needs.
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Articles in notable professional
“The Real Estate Zone� radio show – Air-
publications
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ing every Sunday from 11 a.m. – noon on 590
John McClellan’s
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articles are fea-
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tured in Austin
sionals and is also a great resource for anyone
Real Estate Daily,
who’s interested in real estate. “The Real Es-
Business District
tate Zone� features various segments includ-
Magazine, and Re-
John McClellan Austin Branch Manager
Austin net branch, John E. Mc-
After five and a half years in North Austin,
ing The Mortgage Manager, an informative
alty Line. Learn
Clellan has a three-word mantra
Supreme Lending has built a team of experi-
and instructive look at how managing a mort-
where the market is heading and how to ride
for mortgage banking: Listen. Learn. Lend.
enced, knowledgeable full-time mortgage
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the real estate roller coaster. John has been in-
It’s a philosophy that has paid off in bringing
professionals, and has established a support-
lars; The Consumer Credit Corner, which
terviewed and showcased on Fox 7 News,
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offers secrets about how to improve and keep
KXAN and KVUE Austin News, and in the
pends on; but it has also earned him the rep-
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Supreme Lending, is a Dallas-based mort-
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gage banker that is licensed in 44 states and
ally brings to the team over 16 years in real
www.JohnMcClellan.com/blog, dedicated to
Supreme Lending brings much more to
originates nearly $1.5 billion a year in mort-
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with a passion for teaching and sharing the
inspiration, compare investment strategies
servicing loans. McClellan looks forward to
also a full service mortgage banker with in
knowledge and strategies he has picked up
and stay updated with the community.
standing out from the crowd as a trusted
house FHA, VA, USDA, and Conventional
over the years. “I love to teach people about
Search the Austin MLS, get free market statis-
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handling hundreds of various types of trans-
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actions each year on both the broker side and
ditions and the changes that our industry is
out all the doom and gloom.
tionships. “In the mortgage business and real
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seeing on a daily basis.�
“The
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www.realtylineonline.com
Realty Line Austin
December 2010
Outgoing ABoR chairman of the board John Horton, right, presents the REALTOR of the Year award to Jay Gohil of Jay Gohil Realty.
Angela Martin, Ann Shaw, Tiesa Hollaway, Lisa Lewis, Karen Williams, Tandi Haggard, Lisa McEntire and Penny Good check out the gifts under $20 at the Shop ‘Til You Drop event at North American Title’s Round Rock office. Tiesa, Karen, Lisa and Penny are with North American Title.
The RE/MAX Round Rock team is always a major contender for the title at Independence Title’s chili cook off. The event featured music and refreshments in the parking lot. The day of fun benefited emergency shelter and foster care programs. Gary Hoffarth of Austin Advantage Real Estate admires the new watch he won at Sunsets at Santa Luz, a REALTOR appreciation party hosted by Drees Custom Homes in Steiner Ranch.
December 2010
Realty Line Austin
www.realtylineonline.com
As markets go up and down...
...take the ride with a friend Independence Title Explore ^^^ 0UKLWLUKLUJL;P[SL JVT
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www.realtylineonline.com
Realty Line Austin
December 2010
Eric Phillips warns Cathy Adamek that his chili will put dreadlocks on your head – and multicolored ones at that. Both are with Independence Title and were taking part in the company’s sixth annual chili cook off.
John Leach and Kevin Breaux, both of JB Goodwin REALTORS, keep the crowd at bay while they fry the turkey for the company’s 27th annual Thanksgiving luncheon.
John Horton, ABoR’s outgoing chairman of the board, presents Teresa Roberson of Roberson Residential with the Rookie of the Year award at the organization’s breakfast celebration at the Austin Country Club.
December 2010
Realty Line Austin
www.realtylineonline.com
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Realty Line Austin
December 2010
Liz Ott of Keller Williams Realty thanks Jon Blance of Drees Custom Homes for helping to sponsor the grand opening of the real estate company’s northwest Austin office.
Kristin Carroll of Sente Mortgage, Patricia Wagner of DHI Mortgage and Michael Neuman of Realty Executives catch a warm bus on a chilly morning to travel to Fredericksburg. The Women’s Council of REALTORS coordinated the shopping day.
Huston Dorris and Marcela Alfonsin, both of Keller Williams Realty, take part in the downtown property tour, which featured six stops with more than 10 condos to preview.
Carrie York of Austin Real Pros enjoys a morning breakfast at Austin Country Club with Vanessa Bivins of Coldwell Banker United REALTORS. They were on hand for the ABoR installation and awards banquet.
What lies ahead for the local housing market in 2011? Our Speakers: Join the Austin Board of REALTORS® and the Home Builders Association of Greater Austin (HBA) to hear the most recent statistics and insight on our economy and housing market. Hear from the experts at the 2011 Housing Forecast:
Thursday, January 13, 2011 Coffee 8:00 a.m. Breakfast 8:30 a.m. Program 9:00 - 11:30 a.m.
Renaissance Austin Hotel 9721 Arboretum Boulevard Austin, TX 78759
Individual tickets: $65 Corporate Tables: $550 (seat 10) Seating is limited. NO Billing. ALL tickets must be pre-paid with cash, check or credit card. NO replacement of lost tickets. NO tickets will be sold at the event.
Tickets: $65
Eldon Rude
MODERATOR AND AUSTIN HOUSING MARKET FORECAST
Rude has earned a reputation in the housing industry for thorough analysis and candid insight into the factors that impact the supply and demand for housing.
John Ducal
NATIONAL ECONOMY FORECAST
A researcher of macroeconomics and finance for the Federal Reserve Bank, Duca will address the national economy. Duca has published numerous articles on money, credit and housing for scholarly journals.
Susan Davenport
ECONOMIC DEVELOPMENT
2011
Davenport serves as the Senior Vice President of Global Technology Strategies for the Austin Chamber of Commerce, managing the Greater Austin Technology Partnership which focuses on improving Austin’s global position on technology innovation.
Online: www.Abor.com or www.AustinHomeBuilders.com
By Phone: 512-454-7636 (ABoR) or 512-454-5588 (HBA)
December 2010
Realty Line Austin
Experts Speak Out
Commentary Latra Szal n Gracy Title
Proper Contract Cancellation: Protecting Your Clients and Yourself
I
n order to properly terminate a con-
tract under the TREC contracts, one must look to the controlling language
in the contract.
The TREC contracts clearly define the identity of the parties to the transaction in Paragraph 1 of the contract. Specifically, the parties to the c o n t ra c t are the buyer and s e l l e r only. The definition does not include the real estate agents representing the principals or the title company closing the transaction. Paragraph 21 of the contract controls the proper notice between the parties to the contract. It states: “All notices from one party to the other
must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile or electronic transmission as follows.” Based on the language in the contract, to cancel a contract correctly the notices must be sent by the parties themselves and not by their agents. F u r t h e r, the notices must be sent to the address, fax number or email address shown in Paragraph 21 of the contract and not to an alternate address. This is not to say that the parties should only communicate with each other. Sending a carbon copy to both agents and the title company does not create any cancellation
issues, as long as the critical requirement of notice going between the parties is satisfied. The stated requirements are often contrary to how real estate agents actually assist their clients in cancelling a contract. More often that not, it seems that the Notice of Termination is sent between the real estate agents themselves and not between the parties. If all parties execute a Release of Earnest Money the technical defect in cancellation is resolved. If the parties do not execute the Release of Earnest Money, the buyer could be looking at losing their earnest money. Lately there are more sellers taking notice of these technically defective attempts to cancel a contract and they are going after the buyer’s earnest money when a contract cancels imperfectly. Under the Fidelity canon in the Code of Ethics, a real estate agent is required to perform his or her duties scrupulously and meticulously. The word “meticulously” is defined as “marked by extreme or excessive care in the consideration or treatment of details.” This canon arguably places a responsibility upon real estate agents to assist their clients in proper cancellation of the contracts. As a licensed professional, the real estate agent is expected to understand the steps required for cancellation and advise their clients on the required steps. A failure to advise a client on the steps to proper contract cancellation could result in the real estate
www.realtylineonline.com
25
agent losing money as well. A recent change in the Texas Real Estate License Act now allows TREC to order a real estate agent to pay a refund to their client if the client is able to successfully demonstrate that the real estate agent did not fulfill his or her duties during a transaction and the client suffered a monetary loss because of that failure. For example, picture a scenario in which the Selling Agent attempts to cancel a client’s contract by sending the Notice of Termination themselves to the Listing Agent. Paragraph 21 contained only the seller’s email address for notice. Because this is not a technically correct cancellation of the contract, the seller could seek the earnest money on deposit. If the buyer then loses the earnest money and files a complaint, TREC could require that the real estate agent refund the lost earnest money to the buyer themselves. To best protect the interests of your client and yourself, it is a good idea to talk with the buyer about the requirements of termination up front. A real estate agent should make sure a buyer understands what is required to cancel and that the buyer must be available to take the necessary steps if they wish to cancel. Additionally, a real estate agent should always require that there is information provided in Paragraph 21 of the contract for the opposite party. A blank Paragraph 21 can create cancellation nightmares for a party attempting to terminate. RL
www.realtylineonline.com
26
Realty Line Austin
December 2010
One-Time One-Time Close Close Construction Construction L Loans oans
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Traci Adams Vice PPresident, Vice resident, LLoan oan OOfficer fficer
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Merry Christmas and Happy New Year!
Derrick Jones of Austin City Living picks up a spare and helps raise funds for Mobile Loaves and Fishes by participating in the Strike Against Hunger, the bowling tournament that the HBA Sales and Marketing Council hosted at Showplace Lanes.
One Size Fitss All... We’re W e’re the best pr present esent yyou ou can give givve your your clients— No Re-gifting No returns returns needed. R e-gifting highly encouraged!
Merry M eerrr y Christm Christmas from from your your team at DHI HI Mortgage. Mor o tgage. P Provided rovided for for informational infformational purposes purposes only. only. DHI DHI Mortgage Mortgage Company, Company, LTD, LTD T , 12554 Riata Riata Vista Vista Circle, Circle, First First Floor, Floor, Austin, A ustin, T TX X 78727. T Texas exa e sM Mortgage ortgaage B Banker anker R Registration egistration 44608-3709. NMLS #38686.
December 2010
Realty Line Austin
www.realtylineonline.com
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Realty Line Austin
December 2010
Directors and officers of the Austin Board of REALTORS get ready to be installed into their new positions at the organization’s installation and awards celebration at Austin Country Club.
Mark Minchew of RE/MAX Austin Associates installs Kay DeSilva as CRS Lonestar Regional director for 2011 at the organization’s meeting at the Westwood Country Club.
David Pavliska of RE/MAX Round Rock, Rod Morgan of Landmark Properties and Jim Goldrick of Texas American Title get to meet the Austin Toros cheer team at the open house at Texas American Title’s Cedar Park office. Linda Knowles-Katz of AmeriPro Funding considers trading raffle prizes with a guest at the networking mixer at Water 2 Wine, which the Women’s Council of REALTORS hosted.
Th Yo Thank You fofor f putt putting ttiting ng your trtrust rust us in us to se service erv rvivice yyou your ur cli clients’ lientsts’ home wa warr warranties. rrrantities es. We lolookk for fofforward rwa rw warrd to conti continuing tinuuing ng to earn your bus business usines ess ss in 20 2011. 011. From Fro Fr om ourr fam faffamily milyly to you yours urs – We W wi wis wish ish you peace andd lolov lloveve in ththe Ne N w Ye New Y ! Year!
December 2010
Realty Line Austin
www.realtylineonline.com
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Realty Line Austin
December 2010
“Wait! We’re here, let us on the bus,� pleads Joy Herring and Marie Dang Schwartz, both of Realty Executives, as Women’s Council of REALTORS members get ready to depart for a day of shopping in Fredericksburg.
Harry Pokorny installs Victoria Reviel as the incoming president of the Williamson County Association of REALTORS at Bella Lago at Forest Creek, where the organization held its installation banquet.
Greg Petrosewicz of the Cardani Group is awarded the Community Service Award by John Horton, 2010 Chairman of the Austin Board of REALTORS at the organization’s installation and awards breakfast at the Austin Country Club.
s ’ n o s Sea s g n i Greet
To our many friends and clients— We send our best wishes for a happy Holiday Season and a Prosperous 2011.
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December 2010
Realty Line Austin
www.realtylineonline.com
DISCOVER THE ART OF FINE LIVING IN
Mediterra AT S T E I N E R R A N C H
• Master Planned Resort-Syle Living • Three Amenity Centers • Exceptional Location • Leander ISD •
Set at one of the highest points of Steiner Ranch, Mediterra makes a quick first impression with its breathtaking views of the surrounding Texas hill country and the rolling terrain separating this award-winning community from Austin. Also of note is the natural peace and tranquility afforded by the neighborhood’s location five miles from the nearest major roadway and entrance to Steiner Ranch.
Tour Our Seven Move-In Ready
Extraordinary Homes E X C E P T I O N A L LY P R I C E D
Aside from the awe-inspiring topography and seclusion of the neighborhood, the generously sized lots are both wide and deep, allowing ample backyard space for year round outdoor living.
State-of-the-art Amenity Center within walking distance!
The Easton 2 Story, 4 Bedrooms, 3.5 Baths 2 Car Garage, 3328 Sq. Ft. Was $458,773 Now $419,990
The Montclair 2 Story, 5 Bedrooms, 4.5 Baths 3400 Sq. Ft Was $440,580 Now $399,990
The Lancaster 2 Story, 4 Bedrooms, 3.5 Baths 2 Car Garage, 3128 Sq. Ft Was $441,003 Now $399,990
The Lexington 2 Story, 5 Bedrooms, 3.5 Baths 2 Car Garage, 3500 Sq. Ft. Was $452,464 Now $409,990
The St. James 2 Story, 5 Bedrooms, 4 Baths, 2.5 Car Garage, 3500 Sq. Ft. Was $462,733 Now $425,990
The Medina 2 Story, 4 Bedrooms, 3.5 Baths 2.5 Car Garage, 2,926 Sq. Ft. Was $436,588 Now $399,990
12404 Calistoga Way, Austin, TX, 78732 Sun: 12 to 6 Mon. - Thurs.: 10 to 6 Fri.: 12 to 6 Sat: 10 to 6
From 620 head West towards Mansfield Dam. Make a left on Quinlan Park Rd. (2nd light) - this is 2nd entrance to the Steiner Ranch Community. From the main entrance, follow Quinlan Park Rd. for approximately 4 miles, then turn left on Bella Mar Trail, then turn right on Calistoga Way.
Mediterra in Steiner Ranch from the $300s • 512-266-2820 John Henion, Sales Associate 512-791-4401 jhenion@taylormorrison.com Greg Weeks, Sales Associate 512-554-9800 gweeks@taylormorrison.com taylormorrison.com © November, 2010 Taylor Morrison of Texas, Inc. All rights reserved. Offer void where prohibited or otherwise restricted by law. All information (including, but not limited to prices, availability, incentives, floor plans, site plans, features, standards and options, assessments and fees, planned amenities, programs, conceptual artists’ renderings and community development plans) is not guaranteed and remains subject to change or delay without notice. Maps and plans are not to scale and all dimensions are approximate. Please see a Taylor Morrison Sales Associate for details and visit www.taylormorrison.com for additional disclaimers. 1110
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Realty Line Austin
Joe Williams, Reba Saxon, Ed Coates and Althea Osborn attend the crowded grand opening of Keller Williams Realty’s northwest Austin office. Ed is with United Lending and Joe, Reba and Althea are all with Keller Williams Realty.
Sandy Steed of Austin Title and Ruby Johnson of Realty Executives arrive at the quarterly meeting of the Williamson County Association of REALTORS, where they honored service members at the Cedar Park Recreation Center.
Laquita King, fourth from left, of Affordable Home Protection Service is welcomed by Peg Braxton, center, and her team.
December 2010
Pamela Jones and Sandy Mauro, both of RE/MAX Austin Associates, peruse the schedule of the downtown property tour and realize that the last one of the year will be an afternoon full of condo visits.
Chris Sachs and J.B. Goodwin, both of JB Goodwin REALTORS join Jay Tucker of Reliant Title at the Williamson County Association of REALTORS installation banquet at Bella Lago at Forest Creek, where they honored incoming officers and directors.
Paula Bacon of Reliant Title escorts Michael Sedigh of Central Metro Realty and Theresa Seibold of Private Label Realty around the company’s new office in Round Rock.