Winter 2024 Newsletter by Albert Tran

WSGVR

CONNECTION

Winter 2024 Where Members Come First!

The Huntington Library, Art Museum, and Botanical Gardens. Photo: Albert Tran

WSGVR MemberHub Benefit The MemberHub takes pride with free WiFi, a conference room, multiple worktables, and a lounging space. The MemberHub also offers complimentary coffee and two computers for member use. The WSGVR MemberHub, located right next to the Association’s headquarters. WSGVR invites you to use the MemberHub to work or meet with clients, other REALTORS®, and Affiliates. Members can also lease the facility and mailboxes for after-hours access from 5 p.m. to 11 p.m. and Weekend access from 9 a.m. to 11 p.m.

Your MemberHub Includes: • Coffee • Conference Room

• Lounging Space • Two Computers

• WiFi • Worktables

News & Features

Board & Staff

Member Benefit: MemberHub

President’s Message

Education Calendar

California Home Sales Remain Stagnant In December, C.A.R. Reports

OFFICERS LING CHOW President YIN BIHR President- Elect

PAULINE LAM Vice President

JEFF HUANG

TOMAS WONG

LORRAINE CLARK

DORA LEUNG

NANETTE ONG

TOM TSENG

VINCE VENEZIANO

WILLIAM WEI

Tax Saving Month On Your Secretary Treasurer Primary Home With New Wrinkle 10 Real Estate Sales Median Stats 12 DIRECTORS Cyber Security Best Practices

Realtor® Action Fund Dues Billing Sweepstakes

Holiday Season Spotlights Property Tax Savings’ Programs

Sales and Price Reports

A Veterans’ Tax-Savings Benefit

IMMEDIATE PAST PRESIDENT

City & County Update - Winter 2023

BRIAN CHEN

San Gabriel Valley Realtors® Installs 2024 Leadership Team

SHUN ZHANG

ASSOCIATION STAFF ALBERT TRAN Chief Executive Officer ANGELICA MORALES Director of Operations KAREN SNOW Accountant PHONG TON Education & Store Manager BELEN BERRIOS Communications & Events Manager MARICRIS BENITEZ Member Support Coordinator MELINA MARTINEZ Member Support Representative

President’s Winter 2024 Message “As a volunteer-driven association, we have made a significant impact this past year. Thanks to 70+ volunteers who gave their time and talent to WSGVR...” Dear Valued Members, It is my privilege to be continued as your 2024 President. I would like to welcome us to 2024 – a new year that continues to open opportunities for West San Gabriel Valley REALTORS® (WSGVR)’s growth, with a strong membership of 3,200+ members, and continued development both for the association and for each of us who call “WSGVR, Where Members Come First”. As a volunteer-driven association, we have made a significant impact this past year. Thanks to 70+ volunteers who gave their time and talent to WSGVR, especially our 2023 Board of Directors and 2023 Committee Chairs/ Vice Chairs and Members – we are gifted with exceptional leadership. As WSGVR’s 2023-25 Strategic Plan’s theme “ELMO – Elevate, Leadership, Money, and Outreach”, positively impacting our organization with the unique ways, we promote leadership and membership growth, fairness, dignity, diversity, equity, inclusion, belonging, and fair housing. A quick recap of what was happening in 2023. •

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Lunar New Year: On February 2, 2023, WSGVR celebrated the Lunar New Year in person with over 120 members attending and enjoying the event with a delicious breakfast and vibrant Lion Dancers. Click here for the Lunar New Year Celebration video. Cinco De Mayo: On May 4, 2023, WSGVR celebrated a Cinco De Mayo event with delicious Mexican breakfast as well as entertainment. YPN held two successful events: (1) The YPN 80’s Mixer was held on Thursday, March 30th at EXP Barcadia in Arcadia and (2) an event at the Union Station Homeless Center in Pasadena on Thursday, May 18th to help serve the homeless and raise awareness for housing affordability. WSGVAR Foundation’s Annual Scholarship: On June 1, 2023, the West San Gabriel Valley Association of REALTORS® Foundation awarded scholarship to 14 students in the San Gabriel Valley area. Golf Tournament. WSGVAR Foundation conducted a 2023 Golf Tournament event at California Country Club in Whittier to raise funds for high school scholarships and charitable organizations. Certified International Property Specialist (CIPS). Global Business Council (GBC) held a 5-day CIPS Designation Courses from June 12 to June 16th. Thanks to 18 members who took the courses and walked away with their CIPS designation. Global Culture Night. On June 14th, GBC held a very successful Global Culture Night. Over 100 members attended the event to enjoy the food tastings from around the world. Thanks to GBC members for bringing their foods as well as for participating in the event. Fourth of July Celebration. On June 29, 2023, WSGVR celebrated our annual July 4th with delicious breakfast, prizes, and independent day costumes. Legislative Day. On August 25, 2023, WSGVR hosted Legislative Day to provide updates on local, state, and national real estate issues. WSGVR continues to work closely with five cities (Alhambra, Monterey Park, Rosemead, San Gabriel, and Temple City) on local real estate-related issues. The association collaborates with Assemblymember Mike Fong on state issues and Congresswoman Judy Chu on federal real estate issues. Outbound Trade Mission. We are thrilled to announce our outbound trade mission to Taiwan in October 2023. The Global Business Council team visited six

WSGVR CONNECTION Winter 2024

West San Gabriel Valley REALTORS® www.wsgvr.org

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associations in Taiwan as follows: Chinese Association of Real Estate Brokers, Taipei Association of Real Estate Brokers, Taoyuan Association of Real Estate Brokers, Taichueing Association of Real Estate Brokers, Haleu Association of Real Estate Brokers, and New Taipei Real Estate Agent Association. Inbound Trade Mission: The GBC members hosted an inbound trade mission at the NAR NXT Conference in Anaheim, CA between November 13, 2023 and November 17, 2023. During the event, WSGVR signed an MOU with the Thailand’s Real Estate Sales and Marketing Association. REALTOR® Safety Summit: This Summit was held on Tuesday, September 26, 2023, equipped you with the knowledge and strategies needed to stay safe while conducting your business. We believe that every REALTOR® should have access to the resources necessary for a secure work environment. NAR Sustainability Summit: As the real estate industry evolves, so does the focus on sustainability. Our NAR Sustainability Summit will explore innovative ways to integrate sustainable practices into your real estate endeavors, reflecting the growing importance of environmental responsibility in our field. Your association held this event on Saturday, October 7, 2023. Halloween Celebration, hosted by the Special Events Committee on October 26, 2023. Over 120 members attended this event with hot breakfast, costume contests, prizes. Broker Summit: Our highly anticipated 2023 Broker Summit, was held on November 2nd. This event gave you an opportunity to gain insights, network with industry leaders, and enhance your skills as a broker. Member Appreciation Day “Prom Night” was held on Friday, November 3, 2023. Special thanks to the Special Events/Membership Committee for putting this event together. Annual Installation Gala was held on Friday, December 8, 2023, at the San Gabriel Hilton. About 200 members participated in this event. Again, thanks to 2023 Board of Directors for their incredible services and welcome the 2024 Board of Directors for their volunteerism this year. Congratulate to the following 2023 awardees: Nanette Ong, REALTOR® of the Year; Chris Haun, Affiliate of the Year; Nee Wong, WSGVR Distinguished Service Award; and Brandon Savransky, Special Recognition Award.

I would be remiss if I did not mention the WSGVR Workspace (“MemberHUB”). This workspace is complimentary workspace for all WSGVR members. Members can utilize the facility from 9 a.m. to 5 p.m. Members can lease the facility and mailboxes for afterhours access from 5 p.m. to 11 p.m. and Weekend access from 9 a.m. to 11 p.m. This is the perfect place for you to conduct real estate transactions with your clients. Thanks everyone for your continued support of the association and thanks to those who get involved in our association. Your dedication to excellence drives us forward, and together, we will continue to shape the future of the real estate industry. e Sincerely, Ling Chow, 2024 WSGVR President

Editor • Maricris “Crissy” Benitez Production Design • Elisabeth Zárate For submissions contact Albert Tran albert@wsgvar.com • 626-288-6212

All articles are informational and are not intended to be a substitute for professional assistances. Consult a professional as needed. 3 3

Education Calendar February 45-Hour DRE License Renewal Continuing Education - Friday, February 9, 2024 / 9:30 AM - 12:00 PM - Online GREEN Designation Course (2-Day) - Tuesday, February 13, 2024 / 9:00 AM - Wednesday, February 14, 2024 / 5:00 PM - Live and Online CRMLS Virtual Training: CRMLS Marketing Solutions - Wednesday, February 14, 2024 / 9:00 AM - 10:00 AM - Online Meet & Learn: Bankruptcy 101 - Tuesday, February 20, 2024 / 11:00 AM - 12:00 PM - Live and Online Lone Wolf Transaction - zipForm® Edition Training - Monday, February 26, 2024 / 9:30 AM - 12:30 PM - Live and Online Residential Listings - How to Get & Market them more Effectively - Tuesday, February 27, 2024 / 10:00 AM - 1:00 PM - Online CRMLS Virtual Training: REALTORS® Property Resource - Wednesday, February 28, 2024 / 9:00 AM - 10:00 AM - Online

March Small Business Brokerage - Monday, March 4, 2024 / 9:30 AM - 12:30 PM - Online

April How to Take a Listing in a Probate & Trust - Friday, April 19, 2024 / 10:00 AM - 11:00 AM - Online

Classes to help elevate your business. Product training for all skill and experience levels. For the complete education class schedule and registration links. Visit https://members.wsgvr.org/ event-calendar-education 4

California Home Sales Remain Stagnant In December, C.A.R. Reports •

Existing, single-family home sales totaled 224,000 in December on a seasonally adjusted annualized rate, flat from November and down 7.1 percent from December 2022.

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December’s statewide median home price was $819,740, down 0.3 percent from November and up 6.4 percent from December 2022.

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For the year as a whole, statewide home sales were down 24.8 percent. • LOS ANGELES (Jan. 17) – December home sales remained near the 16-year low reached in November as the sales decline for 2023 as a whole experienced its steepest drop since 2007, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Infographic: https://www.car.org/en/Global/Infographics/2023-12-Sales-and-Price Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 224,000 in December, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold

during 2023 if sales maintained the December pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. December’s sales pace was essentially unchanged from the revised 223,940 homes sold in November and was down 7.1 percent from a year ago, when a revised 241,070 homes were sold on an annualized basis. Sales of existing single-family homes in California have been below the 300,000 threshold since September 2022 and will likely stay below that level in the first quarter of 2024. While the deceleration in the year-over-year loss was due primarily to the low level of pending sales recorded a year ago, the slowdown could be a sign that the market is turning the corner, especially since rates in the past couple of weeks have remained well-below the recent peak recorded in late October. For the year as a whole, the state recorded an annual sales level of 257,630, a decline of 24.8 percent from the revised sales level of 342,530 reported in 2022. The annual sales decline in 2023 was the biggest drop in existing home sales in California since 2007. “The housing market had a tough year in 2023 as a shortage of homes for sale and high costs of borrowing continued to have a negative impact on housing inventory and demand,” said 2024 C.A.R. President Melanie Barker, a Yosemite REALTOR®. “With mortgage rates expected to come down in the next 12 months, home sales will bounce back as buyers and sellers return to a more favorable housing market. Home prices should see a moderate increase in 2024 as well.” While California’s statewide median price dipped 0.3 percent from November’s $822,200 to $819,740 in December, it posted its largest yearover-year gain since May 2022. The December median home price rose 6.4 percent from a revised $770,490 recorded a year ago. With mortgage rates softening since mid-October, home prices will likely maintain their upward momentum, and the market should continue to observe a mid- to singledigit, year-over-year growth rate in California’s median price in at least the early part of 2024. For 2023 as a whole, California’s median home price slipped 0.6 percent to $813,980 from 2022’s $818,900 figure but is expected to climb to $860,300 in 2024. “Easing inflationary pressure and a soft economic outlook suggest that we will see some interest rate cuts in the upcoming year, which bode well for a housing market recovery,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “With rates declining to a 7-month low in late 2023, Americans are feeling more positive about the market, and we could begin to see some increase in market activity at the start of the year. The 6

improvement is expected to be gradual as tight housing supply will remain the norm in 2024.” Other key points from C.A.R.’s December 2023 resale housing report include: •

At the regional level, sales in all major regions dipped in December on a year-over-year basis. The Central Valley region recorded the biggest drop of 14.8 percent from a year ago. The San Francisco Bay Area (-11.4 percent) was the other major region with a double-digit sales loss from the prior year, as seven of the nine counties in the region experienced an annual sales decline. The Far North (-8.2 percent), Southern California (-6.2 percent) and the Central Coast region (-4.0 percent) also posted sales dips from last December but at a more moderate pace.

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Thirty-seven of the 52 counties tracked by C.A.R. registered a sales decline from a year ago, with 23 counties dropping more than 10 percent year-over-year and 14 counties falling more than 20 percent from last December. Trinity (-45.5 percent) had the biggest sales dip, followed by Yuba (-41.9 percent) and Calaveras (-39.3 percent). Fourteen counties recorded sales increases from last year, with Glenn (112.5 percent) gaining the most year-over-year, followed by Lassen (69.2 percent) and Madera (51.0 percent).

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At the regional level, home prices increased in all major regions from a year ago in December. The Central Coast region and the San Francisco Bay Area both posted a jump of 12.6 percent year-over-year at the end of 2023. Three of the four counties in the Central Coast region recorded a double-digit gain last month, with Santa Cruz being the only exception with a drop of 10.6 percent year-over-year. Southern California (6.3 percent), the Central Valley (5.5 percent), and the Far North (4.1 percent) also registered an increase in their median prices from a year ago in December, but their growth was more moderate.

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Home prices continued to show year-over-year improvement in many counties, with 44 counties across the state registering a median price higher than what was recorded a year ago. Lassen (60.3 percent) posted the biggest increase in price in December, followed by Del Norte (47.0 percent) and Mono (37.6 percent). Six counties experienced a decline in median price from last year, with Lake dropping the most at -14.9 percent, followed by Santa Cruz (-10.6 percent), and Plumas (-8.9 percent). Unsold inventory statewide decreased 16.7 percent on a month-overmonth basis and dipped slightly from December 2022 by -3.8 percent. The Unsold Inventory Index (UII), which measures the number of months needed to sell the supply of homes on the market at the current sales rate declined from 3.0 months in November to 2.5 months in December. The index was 2.6 months in December 2022. With mortgage rates sliding back to the lowest level since early August, the market will hopefully see more for-sale properties being listed as we kick off the new year. Active listings declined from a year ago in 32 counties in December, with 27 of them registering a double-digit decrease. Shasta posted the biggest year-over-year dip at -65.5 percent, followed by Alameda (-41.4 percent) and Contra Costa (-39.4 percent). Nineteen counties recorded a year-over-year gain, with Santa Barbara jumping the most at

an increase of 36.1 percent from a year ago, followed by Amador (27.3 percent) and Lake (24.4 percent). On a month-to-month basis, all but one county recorded a drop in active listings last month, and Sutter was the only county registering a monthly increase in for-sale properties in December.

• New active listings at the state level dipped again from a year ago for the 18thconsecutive month, but the annual decline remained below 3 percent for the second month in a row. With rates dropping at the end of 2023 and moving mostly side way at the start of 2024, the market could see a slight uptick in the number of new listings in January. • The median number of days it took to sell a California single-family home was 26 days in December and 33 days in December 2022. • C.A.R.’s statewide sales-price-to-list-price ratio* was 99 percent in December 2023 and 96.1 percent in December 2022. • The statewide average price per square foot** for an existing singlefamily home was $398, up from $373 in December a year ago. • The 30-year, fixed-mortgage interest rate averaged 6.82 percent in December, up from 6.36 percent in December 2022, according to C.A.R.’s calculations based on Freddie Mac’s weekly mortgage survey data. Note: The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data is not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower end or the upper end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes. *Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its original list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price. **Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 51 counties. Leading the way…® in California real estate for more than 117 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles. e

ECONOMICS OF BUYING A HOME HOW REAL ESTATE BROKER COMPENSATION WORKS BENEFITS BUYERS AND SELLERS ALIKE

The current way brokerage services are paid prevents a greater cost burden that would be especially devastating for first-time and low-income home buyers.

If buyers had to pay real estate broker compensation directly, it would add

thousands of dollars to an already costly transaction.

The typical American household has an average of

$5,300 in the bank*.

That’s a third of the median down payment on a starter home, which is $16,100 or 7% for first-time homebuyers**.

Since most lenders don’t allow real estate broker compensation to be financed, every 1% of broker commissions that first-time buyers pay out of pocket would put their home $2,300 further out of reach.

*Bankrate inflation-adjusted data from the Federal Reserve 2019 Survey of Consumer Finances ** In 2021, median downpayment was 12% for all buyers, 7% for first-time buyers, (NAR 2020 Profile Home Buyers and Sellers report). Actual dollar amounts based on national median starter home price in Q1 of 2020 according to NAR Q1 First-Time Homebuyer Affordability Index

REALTORS® are members of the National Association of REALTORS®

HOMEBUYING PROCESS PRIMER Buying a home is for many the most complex and important transaction they’ll ever do. Key steps involved in the home buying process include: Check your credit Your credit score plays a huge part in your ability to secure a mortgage and improving your credit score can take months of healthy spending habits and paying down debt. Check your credit with your credit card company, online, or with a major credit bureau such as Equifax or Experian. Typically, if your score is below 700, you will likely pay more for your mortgage.1 Figure out what you can afford You need to sit down and decide how much you can afford to spend on a down payment, monthly payments and expenses. A mortgage lending rule of thumb is that your total monthly home payment should be at or below 28% of your total monthly income before taxes.2 However, lenders still have the ability to provide you more or less depending on your overall financial history. Hire a professional Having an expert, local professional to manage the process is more important than ever before. The internet only does so much--real estate agents help people traverse complicated, data-heavy and voluminous information, details and decisions. Find your dream home Through local MLS broker marketplaces, REALTORS® have instant exposure and access to the largest, centralized database of residential real estate listings in your area to find the perfect home for you within your budget. Local MLS broker marketplaces make it possible for all kinds of brokerage services to compete on a level playing field because they all have access to the same information. This gives consumers a lot of different choices about what broker they want to work with in terms of everything from the commission model to their particular expertise to their customer service approach. Choose a lender and mortgage type In a typical year, most buyers take out a mortgage to finance their home purchase, most commonly 30-year, fixed-rate financing using a conforming loan. However, there are other options including an adjustable-rate mortgage (ARM), where your payments often start out lower, but could increase over time. When choosing your mortgage you need to acknowledge and be aware of the risks you are taking on when making this decision. Make an offer Once you’ve found the right home and financing option, the next step is to make an offer to purchase your new home. Home inspections To ensure that the home is safe and won’t incur large, unexpected expenses in the future, be sure to get a home inspection before closing on your new home. Closing Once the inspection is complete and you’ve come to an agreement with the seller, you will then close on the deal and sign all of the necessary paperwork. It typically takes a couple of days for your loan to be funded.

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https://homeownershipmatters.realtor/wp-content/uploads/2016/01/201503_cfpb_your-home-loan-toolkit-web.pdf https://homeownershipmatters.realtor/wp-content/uploads/2016/01/201503_cfpb_your-home-loan-toolkit-web.pdf

REALTORS® are members of the National Association of REALTORS ®

Tax Saving Month On Your Primary Home With New Wrinkle By Jeff Prang Los Angeles County Assessor This month I want to take a moment of your time to visit about a specific property tax savings program my office offers that is just waiting to reduce your budget. We do manage several programs for seniors, veterans, people with disabilities, and non-profits, resulting in $724 million in tax savings last year alone. Since 1974, the state’s Constitution has tried to give homeowners financial relief against the high cost of housing through the Homeowners’ Exemption (HOX) that can automatically reduce your assessed tax burden by $7,000, if the home is your primary residence as of Jan. 1. That translates to an actual reduction of $70 to a homeowner’s tax bill. And all the homeowner has to do

is fill out the application at assessor. lacounty.gov and they are good to go. The deadline is Feb. 15 to get the entire savings but if you miss the deadline, please file anyway and you will get it prorated this year and the full amount the following years. Homeowners need only apply once in order to receive these savings each year. The savings continue until a change (such as a sale) is recorded. It’s important to remember that when the Homeowners’ Exemption was created in 1972 and then formally enacted in 1974, the median sales price for a single family home was about $34,000 statewide. The median sales price of a home now is about $800,000. The $70 exemption taken off the property tax bill is entirely inadequate in providing any relief for the California homeowner. We cannot forget that the property tax bill also includes local bond debts and fee assessments, including water and school districts that have nothing to do with assessed value of the home under Proposition 13. Yes, obviously it is long overdue for an increase to the Homeowners’ Exemption. As a hypothetical example, if the state Legislature increased the current homeowners’ exemption from $7,000 to $25,000 for everybody and perhaps even up to $500,000 for qualified low-income homeowners, that translates into a savings of $250 for all and $5,000 for those qualifying low-income homeowners. I encourage our state Legislature to study this issue and increase the Homeowners’ Exemption, even modestly. At a minimum, they should attach an escalator clause that will keep the Homeowners’ Exemption in line with inflation. Having said that and at the current savings of $70, nearly one in three homeowners in Los Angeles County still do not take advantage of this program, leaving $30 million unclaimed each year. Across the County, an additional 435,000 families can be saving on their tax bills. The Homeowners’ Exemption is even more important than ever before because of Proposition 19. Prop. 19 has changed the rules that apply to transfers between parents and children or in some cases, even grandparents to grandchildren. Prop. 19 abolishes transfers of any property not being used as a primary residence. It also eliminates the current parent-to-child and grandparent-to-grandchild exemption in cases where the child or grandchild does not use the inherited property as their principal residence, such as using a property as a rental house or a second home. However and this is most important: The child receiving the home has one year from the date of transfer to acquire the Homeowners’ Exemption, if the parent did not have it at the time of the transfer. If the home does not have the Homeowners’ Exemption, the children will not receive the tax benefit, and they could be stuck with a huge property tax increase. I am providing regular briefings on the latest updates and our website will be continuously posting new information on Proposition 19 that may assist taxpayers. For more information on Prop. 19 or other tax savings programs, visit assessor.lacounty.gov or call 213/974-3211. e Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation with 1,300 employees and provides the foundation for a property tax system that generates $24 billion annually.

Power BI Desktop

October 2023

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transactions of properties listed

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on various MLSs across the state

listed on MLSs across the state

all closed sales listed on MLSs

and listing prices for homes sold

during the current month for the

on MLSs during the month for

selected geography and property

the selected area and property

characteristics.

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November 2023 

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transactions of properties listed

Median price of all closed sales

Median price per square foot of

Ratio (%): Gap between selling

on various MLSs across the state

listed on MLSs across the state

all closed sales listed on MLSs

and listing prices for homes sold

during the current month for the

on MLSs during the month for

selected geography and property

the selected area and property

characteristics.

Power BI Desktop

December 2023 

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Existing SFR Med. Price/Sq. Ft.:

Existing SFR Med. Sales-to-List

transactions of properties listed

Median price of all closed sales

Median price per square foot of

Ratio (%): Gap between selling

on various MLSs across the state

listed on MLSs across the state

all closed sales listed on MLSs

and listing prices for homes sold

during the current month for the

on MLSs during the month for

selected geography and property

the selected area and property

characteristics.

Cyber Security Best Practices

Implement Regular Phishing Testing For All Users

Based on budget, there are a few ways to implement phish testing: • This can be a 3rd party vendor hired to test employees with an internal phishing campaign • This can also be performed in-house with an internal IT team

Regularly Review & Update Your Information Security Policies & Procedures

Some best practice security policies are: • Data Backup Policy • Password Management Policy • Remote Access Policy • Acceptable Use Policy • Data Retention Policy • Cloud Security Policy • Incident Response Policy • Change Management Policy • Employee Awareness and Training Policy • Network Security Policy • Software Updates Policy • Access Control

Implement Multi-Factor Authentication (MFA) For All Users

• Although it may seem burdensome, MFA prevents account theft • MFA is now considered a basic standard for authentication

Implement Regular Security Awareness Training For All Users

Security Training should include: • Phishing • Malware Avoidance • Password Security • Safe removable media habits • Safe internet browsing habits • Social networking dangers • Physical security • Clean Desk Policy • Information / Data Security • Bring Your Own Device (BYOD) policy

Harden Password Requirements For All Users

To be defined in your own Password Policy. Examples: • Passwords shall be 12 characters minimum • Passwords must include at least 3 of the 4 below character types • Upper case alpha • Lower case alpha • Numeric: 0-9 • Special characters [(!@#$%^&*)(space)] • Passwords must be changed at least every 365 days • Users can not share or write down passwords

Keep Software Up-To-Date and Patched

• Installing patches and updates prevents hackers from using exploits and vulnerabilities against you • Installing updates and patches on a regular basis is the best way to close the door to hackers before they have a chance to find and exploit weaknesses in your network

Remove Access To Business Systems When A User Leaves Your Organization

• A procedure for locking and disabling accounts for outgoing employees is essential • This reduces the possibility of unauthorized access or changes to your network from ex-employees

Limit The Use Of USB Drives

Do Not Use A Local Administrator Account For Everyday Use

• Using the local administrator account on your computer enables all programs to run with the highest authority on your system - including malware • By using a standard login account, you deny malware the permissions needed to cause extreme damage

Use The Most Secure Wireless Encryption Supported

• Removable media can harbor malware

• If your wireless router supports WPA2 - use it

• Some media will autorun when plugged in unless explicitly denied beforehand - including malware

• If your wireless router does not - upgrade it

• One infected device can be shared amongst many machines quickly

• WEP encryption is broken - WPA2 is a lot more secure

• Sensitive data can also be loaded onto media and removed from your company without your knowledge • Sharing USB drives is a lot like sharing underwear. Who knows what you will get or from where

Use A VPN To Connect Securely To Internal Infrastructure

• A VPN creates a secure encrypted private tunnel from your computer to your organization just as if you were in the office • Without it, your traffic is not private

Helpful Links and Tools: Antivirus/malware: www.malwarebytes.com File / URL Scanner: www.virustotal.com Check if email/password was part of a data breach: www.haveibeenpwned.com Clean & Protect Your Website: www.sucuri.net

Use Caution When Clicking Attachments And Links From External Organizations

• Be suspicious of urgent emails from outside organizations requiring immediate action • Do not trust links in emails. Open a browser and go there manually instead. Outside links may go somewhere else • Be on the lookout for spelling and grammar mistakes. This is a red flag for phishing or a scam • Never directly click a link in an email, it may be a fake page waiting to steal your ID and password Free Phishing Test: www.knowbe4.com/phishing-security-test-offer NAR Data Privacy & Cybersecurity Guide: www.nar.realtor/data-privacy-security CISA Ransomware Protection Guide: www.cisa.gov/stopransomware CISA Ransomware News & Alerts: www.cisa.gov/stopransomware/alerts 17

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Partner with NAR on our .realtor™ Local Association Partner Program and your members will get a personalized web address, matching email, and a Free Professional Website. We’ll provide tailored content and tech support to ensure the program’s success. This is an exclusive offer and not available anywhere else, so hurry and help your members get set up for success!

TOP 3 REASONS TO TRANSITION FROM .com to .realtor™ 1. Added Value of Membership: Maximize value for your members Encourage renewals by showcasing your commitment to helping members rev up their ROI and demonstrate your association’s dedication to optimizing the value of dues dollars. 2. Exclusivity: Only for REALTOR® Associations and their REALTOR® members The .realtor™ web address is exclusive to REALTOR® Associations and their REALTOR® members and displays your commitment to higher ethical standards and a strict Code of Ethics 3. Cutting Edge Attract top real estate industry talent Increase your marketability and show that you’re a future-focused association constantly seeking out new ways to support members and propel the profession forward.

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GET STARTED! Request additional information about the program at get.realtor/LAP *.realtor™ domain only, one per member, free for the first year for REALTORS® and three years for REALTOR® Associations.

® ACTION FUND R O T L A E R

Dues Billing Sweepstakes

1 of 5

Visa Gift Cards!

West San Gabriel Valley REALTORS® (WSGVR) members who pay their 2024 membership dues in full (Local, State and National and pay the additional $49 REALTOR® Action Fund contribution by February 29, 2024 will be entered in the drawing to win one of five (5) Visa gift cards, valued at $100. You have the flexibility to renew your annual membership dues Online at [insert link] using a MasterCard, Discover, Visa, American Express, and E-check on our secure server(SSL).

Enter the REALTOR® Action Fund 2024 Dues Contest

See official rules, odds and other details on the back

Contest open only to REALTOR® members of WSGVR . Participants may only win once. WSGVR is not responsible for entries not received due to difficulty accessing the Internet, service outage, mail delivery delay, computer difficulties that may prevent an individual from paying 2024 dues. Drawing will take place virtually on Thursday, April 4, 2024.

ALL RAF CONTRIBUTIONS MADE ARE APPLIED TO YEARLY AND LIFETIME BALANCES!

Members do not need to be present to win. Odds of winning will depend on the number of qualified entries. WSGVR reserves the rights to change specific rules for specific contests.

Fighting for our profession!

FOR MORE INFORMATION, CONTACT: Jim Clarke Government Affairs Director

clarkejb@msn.com 20

(916) 492-5211 raf.car.org

OFFICIAL RULES

West San Gabriel Valley REALTORS ® REALTOR® Action Fund 2024 Dues Sweepstakes to Win 1of 5 Visa Gift Cards

Sweepstakes: All qualifying contributors during the Eligibility Period for the West San Gabriel Valley REALTORS® (“WSGVR”) 2024 Dues Sweepstakes that pay their 2024 membership dues in full (local, state and national) by February 29, 2024, and contribute at least $49 to the REALTOR® Action Fund (“RAF”) shall be automatically entered into a drawing. Prizes and Odds of Winning: Five winners will each receive a Visa Gift Card, retail value approximately $100.00. Prize not redeemable for cash; no substitutions. Odds of winning are based on the total number of qualified entries received. Only one entry per person by any means. Eligibility: All WSGVR REALTOR® members only are eligible to participate. Participants must be California residents over 18 years of age. Employees of WSGVR or the California Association of REALTORS® (“C.A.R.”), their subsidiaries and their families are ineligible. Eligibility Period: The sweepstakes will start on the start of the 2024 dues billing cycle and end on February 29, 2024, at approximately 11:59 p.m. Only one entry per person by any means. Drawing: The drawing for the prizes will be held on Thursday, April 4, 2024, at approximately 10:30 a.m. during the West San Gabriel Valley REALTORS® meeting, 1039 E. Valley Blvd., #205B, San Gabriel CA 91776. Entrants do not have to present to win. WSGVR will use commercially reasonable efforts to contact each winner not present using contact information provided by each entrant. If a winner is not reached within a reasonable period, he/ she may be disqualified, and an alternate winner may be selected. Prize will be mailed to each winner unless other arrangements are made that are satisfactory to WSGVR. Return of any mailed prize may result in disqualification and selection of an alternate winner. Other Rules: All federal, state, and local laws and regulations apply. Gift card issuer rules and policies may apply– contact issuer for additional information. Sweepstakes is void where prohibited or restricted by law. Prize winner shall promptly provide WSGVR with information to comply with federal, state, or local tax and other laws, or may result in disqualification and selection of an alternate winner. Entrants agree that they have read, understand, and agree to be bound by these rules and by the decisions of WSGVR, which are final and binding on all matters pertaining to this sweepstakes. Liability: All taxes on prize are the sole responsibility of the prize winner. By entering, participants release and hold harmless WSGVR, C.A.R., their subsidiaries and affiliates, and their respective directors, officers, employees, and agents from any and all liability or any injuries, loss, or damages of any kind arising from or in connection with this sweepstakes or the prize won. WSGVR does not assume any responsibility for misdirected, late, or non-delivered mail, or entries not received due to difficulties accessing the Internet, service outage, computer difficulties, equipment malfunctions, errors and/or any other difficulties that may prevent a WSGVR member from paying 2024 dues. NO PURCHASE, PAYMENT OR SURVEY RESPONSE OF ANY KIND NECESSARY TO ENTER OR WIN. Eligible persons may obtain one (1) free entry by printing entrant’s name, address, and telephone number on a 3 x 5 index card with the words “WSGVR 2024 DUES SWEEPSTAKES RAF DRAWING,” and mailing it, postage prepaid, to the West San Gabriel Valley REALTORS®, 1039 E Valley Blvd., 205B, San Gabriel, CA 91776. All mailed entries must be received by February 29, 2024. Only one entry per person by any means. Political contributions are not tax deductible as charitable contributions for federal and state income tax purposes. Contributions to the REALTOR® Action Fund are voluntary, but you may give more, or less, or nothing at all. Failure to contribute will not affect an individual’s membership status in the California Association of REALTORS® (C.A.R.). Contributions will be allocated among three of C.A.R.’s political action committees (PACs), according to different formulas approved by C.A.R. for personal and corporate contributions. These PACs are: CREPAC (supports state and local candidates); CREPAC/Federal (supports federal candidates); and CREIEC (makes independent expenditures in support of or opposition to candidates). C.A.R. also sponsors IMPAC which supports local and state ballot measures and other issues that impact real property in California. The allocation formula may change including redesignating a portion to IMPAC. raf.car.org 21

BUYING A HOME IS EASY!*

*If You Work with a Real Estate Agent Who is a REALTOR® SOME PEOPLE THINK BUYING A HOME IS AS SIMPLE AS: • Look at houses online

BUT THERE’S SO MUCH MORE TO IT. Some of the things a real estate agent who is a REALTOR® helps you with include:

• Find something you can afford • Sign some papers

GETTING STARTED • Educate client on home buying process and coordinate a plan.

• Search local MLS broker marketplaces to find best matches.

• Review buyer rep agreement, agree upon representation and negotiate compensation.

• Serve as local housing market expert (e.g., price trends, negotiation trends, community).

• Understand budget and explain what will be needed financially.

• Arrange tours of homes and neighborhoods.

• Decipher public property and tax information.

FINDING YOUR HOME • Research home information that aligns with buyers’ interests. • Prepare buyer to have the most attractive offer in the current marketplace. • Coordinate professional home inspections, consultations with lenders and necessary property assessments.

• Develop competitive offers and negotiate the best price and terms. • Represent clients’ best interests, advise throughout the negotiation process and close the deal. • Steward multiple parties and schedules to save buyer time. • Look beyond décor, flooring and paint colors to other significant aspects of home.

ACHIEVING HOME OWNERSHIP • Navigate state and federal forms. • Research mortgage rates, terms and reputable lenders. • Coordinate with lenders. • Steward important contract deadlines.

• Advocate for buyer throughout entire process and closing. • Review buyer’s closing statement to ensure accuracy. • Provide information for everything needed to live in new home.

• Ensure all required actions are complete in advance, so closing day is a celebration, rather than a stressor. • Remain a lifelong, trusted advisor!

• Provide guidance for walk throughs prior to closing to ensure property condition. • Work with necessary parties to ensure all contractual terms are completed by closing.

REALTORS® are members of the National Association of REALTORS®

HOW REAL ESTATE COMMISSIONS WORK It’s important for consumers looking to experience the American dream of homeownership to understand how real estate agents are paid for the services they provide. At the outset, the seller and that person’s listing broker agree on the amount the listing broker will receive for the services it provides to the seller. The listing broker and seller also discuss and agree upon an amount that the listing broker will pay a broker who successfully closes the transaction with a ready, willing and able buyer. Here are seven additional things you need to know. For further information check out realestatecommissionfacts.com. 1. Commissions are always negotiable. Commissions can be negotiated at any point throughout the transaction, including at the outset, after the results of a home inspection and after an offer has been made. Sellers negotiate with their broker what fee they are willing to pay for their broker’s services and what fee they are willing to pay a cooperating buyer broker for finding someone who wants to buy their home. 2. There are different commission models to choose from. Buyers have many different choices about which broker they want to work with in terms of everything from the commission model to a real estate agent’s particular expertise to the agents’ customer service approach. In the full-service approach, commissions are negotiable at any point during the home buying process. The reduced service/discounted fee model allows for flexible offerings and pricing. The flat fee approach allows buyers to negotiate a set price per service. 3. Commission rates are set by the market. The free market organically establishes commission costs within local real estate markets based on service, consumer preference and what the market can bear, among other things. National Association of REALTORS’® guidelines ensure that the listing broker advise all other participants in their local broker marketplace what the amount of compensation to the buyer’s broker will be for closing the sale. That amount is determined by the seller and the seller’s broker. Commissions fluctuate over time, including having decreased steadily in recent years and having fallen to a new low of 4.94% in 2020. 4. Commissions cannot be included as part of a mortgage. Unlike mortgage broker fees, closing costs, and appraisals, real estate sales commissions are not directly linked to the mortgage loan production and therefore cannot be financed. By definition, a mortgage is a lien against a property, which means the property itself serves as the asset that the lender can take back to recoup value if the borrower defaults. Commissions, on the other hand, are based on a service provided and there is no way for the lender to recover the value of the service in the event of a default on the mortgage. Further, lenders rely on investors to purchase mortgages to help fund these loans. Since mortgages do not include personal services today, if that changed and mortgages started to cover costs that are not secured by the property, lenders and investors may be less willing to lend and invest, and mortgages could be more costly. For further information check out realestatecommissionfacts.com. 5. REALTORS® are bound by a strict code of ethics in the home buying process. REALTORS® are bound by NAR's Code of Ethics to always further clients' best interests, including showing homes that meet buyers’ needs regardless of commissions offered. Additionally, in November 2020, NAR introduced its Fair House Action Plan, abbreviated ‘ACT,’ which emphasizes (A)ccountability, (C)ulture Change, and (T)raining in order to ensure America’s 1.5 million REALTORS® are doing everything possible to protect housing rights in America. 6. Broker cooperation keeps local broker marketplaces from fracturing. Lack of complete, transparent and accessible data for all would mean smaller brokerages and new entrants have to piecemeal information and couldn’t offer as many options to sellers and buyers, and larger brokerages would dominate local markets, creating emerging behemoths that would drive up costs., transparent and accessible data for all would mean smaller brokerages and new entrants have to piecemeal information and couldn’t offer as many options to sellers and buyers, and larger brokerages would dominate local markets, creating emerging behemoths that would drive up costs. 7. Broker cooperation sets the U.S. real estate industry apart from the rest of the world. The U.S. model has long been – and is still – viewed as the best option for consumers around the world. Buyers abroad are forced to wade through a complex and fragmented market where they have to work with multiple brokerages and where there is no exclusivity so sales can fall through. Generally, the homebuying process abroad is similar to buying a car in the United States where you have to go dealer to dealer, it’s very time consuming and impersonal. It’s also common for brokers to charge fees and taxes in other countries that add up to the equivalent or greater of costs associated with buying and selling property in the U.S., yet only provide a fraction of the services consumers receive here. REALTORS® are members of the National Association of REALTORS®

SELLING A HOME IS EASY!* *If You Work with a Real Estate Agent Who is a REALTOR®

SOME PEOPLE THINK SELLING A HOME IS AS SIMPLE AS: • Put a sign in your yard

BUT THERE’S SO MUCH MORE TO IT. Some of the things a real estate agent who is a REALTOR® helps you with include:

• Let other real estate agents know • Patiently wait

PRE-LISTING • Research sales activity for past 18 months from local broker marketplaces and public records databases.

• Perform exterior curb appeal assessment.

• Guide on best market pricing position based on current market.

• Address important topics such as odors, clutter, cleanliness, décor neutralization and more.

• Create plan for pricing strategies accounting for local market conditions.

• Communicate weekly with activity, showings of homes that compete and market movement.

• Promptly enter price changes on local broker marketplace listing database.

• Follow up with each buyer and agent with timeliness and kindness.

• Prepare contract for buyer.

• Have a strong market reputation where agents want to show your home.

LISTING • Create detailed list of property amenities. • Develop and execute marketing plan. • Coordinate showings with seller and other agents. • Pull data to compare offers.

• Continue to audit the home to make sure it's market ready. • Negotiate all offers.

CLOSING • Help coordinate and review appraisal. • Audit itemized list of all cost components seller and buyer are to pay.

• Coordinate closing process with buyer’s agent, lender and closing company. • Explain technicalities in the ﬁnal contract.

• Protect trust/earnest money through process. • Ensure transaction is ﬂowing to avoid unexpected complications. • Ensure smooth transition with utilities, ﬁnal walk throughs, inspection repairs and other tasks.

REALTORS® are members of the National Association of REALTORS®

WHY HIRE AN AGENT WHO IS A REALTOR®?

BUYERS: Roughly 9 in 10 buyers work with a real estate agent who helps negotiate the best price & terms.

As experts of all things related to home buying and selling, real estate agents who are REALTORS® help consumers navigate the most complex and consequential transaction many of us will ever make.

SELLERS: Without a REALTOR®, For Sale By Owner homes sell for about 26% less than agented properties.*

WHEN YOU USE A REAL ESTATE AGENT:

WHEN YOU DON’T USE A REAL ESTATE AGENT:

They help you with things like...

You have to do things like...

Navigate legal details including managing attorney reviews, ﬁling required state and federal forms, and knowing contracts inside and out. Understand ﬁnancial complexities such as mortgage rates and terms, appraisals and inspections, and coordination with lenders. Uncover community elements like property taxes, public property information, price trends and neighborhood details.

Make sense of all the legal aspects of buying or selling a home. Become a ﬁnancial expert and learn local tax codes & policies. Coordinate inspections and appraisals without training or knowing the best people. Learn local negotiating trends and market. Write your offer to outshine all buyers. As seller, evaluate all details of each offer beyond just price. Negotiate with seller, buyer and/or agent. Accept your home likely will sell for less.

*NAR 2022 Proﬁle of Home Buyers and Sellers report

REALTORS® are members of the National Association of REALTORS®

Holiday Season Spotlights Property Tax Savings’ Programs By Jeff Prang Los Angeles County Assessor As we move forward into this holiday season I wanted to remind your readers of the property tax savings’ programs that my office has available for qualified recipients. I know this is not exactly an exciting topic and I have shared these with you before in earlier columns but saving money is always a good thing and I believe it’s worth repeating. In fact, last year my office provided taxpayers with more than $700 million in savings through various exemptions and exclusions. Let’s start with the easiest to access: the Homeowners’ Exemption (HOX) is available to anyone who owns their home and who occupies it as their principle residence as of January 1. It reduces your assessed value by $7,000, which will save you about $70 of your property tax bill every year. To say this is an easy way to save money is an understatement, but nearly one in three homeowners in Los Angeles County do not take advantage of this tax savings program, leaving $30 million unclaimed each year. Across the County, an additional 435,000 families can be saving on their tax bills. What about property tax savings for veterans? If you are a single veteran with assets of less than $5,000, a married veteran with assets of less than $10,000, or an unmarried surviving spouse of an eligible veteran, you may apply for the Veterans’ Exemption of $4,000, which is applied to the assessed value of your property. The Disable Veterans’ Property Tax Exemption is for disable veterans blind in both eyes; with the loss of the use of two or more limbs; or when totally disabled as a result of injury or disease incurred while in active military service. Unmarried surviving spouses of certain deceased veterans may also qualify. The Low-Income Disabled Veterans’ Exemption provides additional savings if a disabled veteran (meeting above requirements) also meets low-income requirements. I just wrote about this last month but it’s important to note that there is legislative movement to increase the savings with this exemption by allowing those that qualify to receive both the HOX and the veterans’ exemptions, thereby significantly increasing the savings. There’s also disaster relief available through filing the Misfortune or Calamity application. Property that is damaged by a disaster, such as fire, flood or earthquake, or other calamity, which may include civil unrest, may qualify for a temporary reduction in taxable value. Physical damage to the property must be valued at least $10,000.

Then there’s the Decline-in-Value (also known as DIV or Prop 8), which allows for a temporary reduction in a property’s assessed value. This occurs when the current market value of a property is less than the assessed base-year value as of January 1. A DIV review may be requested through the Assessor’s Office and can be made online. If you are a homeowner who is over 55, severely disabled or the victim of a natural disaster, you may be eligible to transfer your property tax base when you sell your home and buy a new one. This also allows qualified homeowners to buy a home anywhere in the state, it allows the transfer of the property tax base up to three times, and it allows you to transfer the tax base to a home of any value. There’s also ways to save when protecting the environment. The initial purchaser of a building with an active solar energy system may qualify for an exclusion from assessment on that portion of the value attributable to the system. When adding a solar energy system to your current home, the new system is automatically excluded from assessment. In June 2018, Proposition 72 was approved by California voters to exclude rainwater capture systems from assessments. Thanks to this measure, the initial purchaser of a property with a rainwater capture system may be eligible for an exclusion of the rainwater capture system assessment. When adding a rainwater capture system to your current home, the new system will be automatically excluded from your property’s assessment. For more information about these programs and the actual dollar savings available for each one, please go to our new and improved website at assessor.lacounty.gov. As we close out 2023, I want to wish everyone a happy Holiday Season as well as a safe and prosperous New Year. We’ll talk again in 2024 when your Assessor’s Office enters the digital age. e Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation with 1,300 employees and provides the foundation for a property tax system that generates $24 billion annually.

IGNITE OTHERS HIGH SCHOOL FINANCIAL LITERACY PROGRAM

REALTORS® are lighting the way for high schoolers across the U.S. by bringing financial literacy into classrooms.

LEARN MORE! REALTORS are members of the National Association of REALTORS . ®

THE ESSENTIAL REAL ESTATE AGENT

NAVIGATING THE BUYING PROCESS

AN EXPERT RESOURCE

91%

Real estate agents wear many hats... Know local, county and state property taxes Decipher public property information Community

Advise on price trends, schools and neighborhoods

of home buyers consider their real estate agent to be a useful source of information.

85%

Coordinate with lenders Research mortgage rates and terms Financial

Buying a home is the largest and most complex transaction most people will make in their lifetime, with volumes of property, neighborhood, transaction, legal and regulatory details to navigate. Having an expert, local professional manage the process is more important than ever.

Schedule appraisals and inspections

of first-time home buyers say their real estate agent helped them understand the home buying process.

REAL ESTATE AGENT TO-DO LIST

Manage attorney reviews Navigate all required state and federal forms Legal

Handle closing documents

Educate clients about transaction process Search broadest database of available homes

HOME BUYERS’ SATISFACTION WITH REAL ESTATE AGENTS 92%

93%

Research information about properties Arrange tours of homes

97% 83%

Navigate home inspections Negotiate best possible price

YOUR ADVOCATE Knowledge of real estate market

Knowledge of purchase process

Honesty and integrity

Negotiation skills

Expert real estate agents save home buyers time and help take stress out of the process. In fact, 90% of home buyers say they would engage their real estate agent again or recommend them to others.

Data according to National Association of REALTORS® 2019 , 2020 and 2021 Profile of Home Buyers and Sellers Reports

REALTORS® are members of the National Association of REALTORS®

A Veterans’ Tax-Savings Benefit By Jeff Prang Los Angeles County Assessor It’s important to remember those that have served our great nation in the military and honor their courage. Veterans Day is a federal holiday and is celebrated Nov. 11. Veterans Day, as most of you know, is a tribute to military veterans who have served in the U.S. Armed Forces. It’s not to be confused with Memorial Day, which honors those who died while in service. Veterans Day honors all military veterans, including those still with us. As a quick reminder, Veterans Day evolved from Armistice Day, which was proclaimed in 1919 by President Woodrow Wilson, celebrating the signing of the Armistice that ended World War I. That occurred on Nov. 11 at 11 a.m. and formally recognized the “11th hour, of the 11th day, of the 11th month” in 1918 that ended the war. In 1954, the holiday was changed to Veterans Day to honor all veterans in all wars. We still celebrate this day, recognizing the tie with WWI, meaning we celebrate Veterans Day the same day every year – Nov. 11 – regardless of the day of the week it falls. If Veterans Day falls on the weekend, it can be celebrated on the Saturday or Sunday and on the following Monday. Since it’s a federal holiday, a bank holiday and a state holiday, federal and state employees get the day off from work. We have tax savings’ programs available for veterans and if pending legislation passes, the exemptions could be expanded. Here’s how it works: If you are a single veteran with assets of less than $5,000, a married veteran with assets of less than $10,000, or an unmarried surviving spouse of an eligible veteran, you may apply for the Veterans’ Exemption of $4,000, which is applied to the assessed value of your property. If you are a disabled veteran the exemption is even greater. If a veteran is blind in both eyes, has lost the use of two or more limbs, or is 100% disabled as a

result of injury or disease incurred in military service, you may be eligible for a Disabled Veterans’ Property Tax Exemption. You may be eligible for an exemption of up to $150,000 of the assessed value of your home. The Veterans Administration must certify the veteran’s disability. Unmarried surviving spouses of certain deceased veterans may also qualify. Now to the legislation, Senate Constitutional Amendment 6 (SCA6), which would allow veterans to claim both the Homeowners’ Exemption and the Veterans’ Exemption or the Disabled Veterans’ Exemption. As a reminder, the Homeowners’ Exemption reduces your assessed value on your primary residence by $7,000. That translates to an actual reduction of $70 to a homeowners’ tax bill. As of now, a veteran cannot claim the Veterans’ Exemption or the Disable Veterans’ Exemption and the Homeowners’ Exemption. If SCA6 continues to move through the legislative process and becomes law that will change. I will keep you posted on any developments. We owe a tremendous debt to our veterans and I say thank you for all that you’ve done, all that you do and all that you will do. Our Democracy is built on your service. My office offers other several tax-savings programs as well and the Veterans’ Exemptions are just two examples. For additional property tax relief programs, visit assessor.lacounty.gov/exclusions-tax-relief or call 213/974-3211. e Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation with 1,300 employees and provides the foundation for a property tax system that generates $24 billion annually.

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City & County Update - Winter 2023 Alhambra

Monterey Park

By Pauline Lam

By Dora Leung

8/28/23 City Council Meeting

8/16/2023 City Council Meeting

Reorganization of the City Council Ceremony held on 08/28/2023 at 7:00 p.m.:

(APN: 5254-002-031) Adopted a resolution to record a Notice of Nuisance Abatement lien against real property in the city.

• • • • •

Ross J. Maza, Mayor Sasha Renée Pérez, Vice Mayor Katherine Lee, Council Member Jeff Maloney, Council Member Adele Andrade-Stadler, Council Member

On June 26, 2023, the City Council adopted Ordinance No. O2M23-4812, imposing a “temporary moratorium” on so called “renovictions,” through December 31, 2023. On September 30, 2023, SB 567 was signed by the Governor. SB 567 revises certain tenant protections in State law which address the concerns that the Alhambra City’s moratorium was intended to address. However, those protections do not take effect until April 1, 2024. At the October 9, 2023 City Council meeting, the City Council directed that an amendment to Ordinance No. O2M23-4812 be agendized to extend the term of the temporary moratorium on renovictions until the tenant protections of SB 567 become effective. 10/23/23 City Council Meeting City Council adopted the first reading of an Ordinance of the City Council of the City of Alhambra, extending the term of Ordinance No. O2M23-4812, a temporary Moratorium on certain “no fault” residential evictions due to a property owner’s intent to substantially remodel the tenant’s unit in the City of Alhambra, which ordinance will return for a second reading and adoption at the next regular City Council meeting (November 2023)

Adopted zoning amendment; establishing citywide fees related to the inclusionary housing ordinance, charging the development in consideration of zone code amendment; an ordinance adding the MP municipal code entitled “Inclusionary Housing” to implement the MP Housing Element. Discussing on Item on Terminus SB710 Senator Elena Durazo request for letter of support, authorized Mayor to looking into it since MP had no seat on this issue before. 8/16 S.C.E. executed 5 year revocable lease land use agreement with city on land use with Edison Rails Park for public recreations purpose fee at $12,805.05. 3500 and 3700 w Ramona Blvd., currently lessee: Luminarias restaurant and Monterey Hill restaurant negotiating city attorney with the specialty restaurants Corp on the long term lease.

Rosemead By Tom Tseng 7/11/23 City Council Meeting Adopt Resolution No. 2023-44, on Flying Flags on City Owned Flag Poles on City Property At the Council meeting of July 11, 2023, the City Council discussed the flying of the Pride commemorative flag on City Owned Flag Poles. At the recommendation of the City Attorney, prior to the City Council approving the flying of additional flags on City owned flag poles, the City Council should adopt a resolution with a flag policy. The reason a flag policy is important is to better clarify that the City owned flag poles are used only as government speech as a limited public forum and only upon proper consideration and approval of the City Council. By having a policy, it makes clear that the flag poles are not open to other groups or individuals to use the City owned flag poles to have other flags flown and is not a forum for private speech. After discussion at the July 11 Council meeting, the City Council voted to have a resolution brought back at the Council meeting of July 25th providing that the City shall only fly, on official City-owned flag poles, the flags of the United States of America, State of California, City of Rosemead, and Flags of the United States Armed Forces. The Interim Chief of Police Lt. Kevin Tawari from the LA Sheriff’s department came to the safety commission to make a presentation to the commissioners, Rosemead contracted with the Sheriff’s dept. The LA Sheriff department here is based in the Temple City station, and they are in contract to service 6 different cities,: Duarte, Bradbury, Temple City, Rosemead, South El Monte, and the unincorporated areas. Of all the areas, the City of Rosemead is the only city that pays for “Chief of Police” position, which aims to bring the public safety to a higher level on top of the daily patrol and responding to emergency calls. They have 2 sets of men, one works on the 24/7 daily patrol and Cont’d on page 35

responding to calls, while the other special assignment deputies work closely related to quality-of-life issues, needs of the city, crime prevention education, and massage parlor inspections…etc, in addition to the patrol team.

San Gabriel

10/2/2023 Planning Commission Meeting held a public regarding:

9/19/2023, City Council Regular Meeting

MUNICIPAL CODE AMENDMENT (MCA) 23-02 - Municipal Code Amendment 23-02 (MCA 23-02) is a City initiated amendment intended to bring Chapter 17.40 (Cannabis Facilities, Cultivation, and Deliveries) of the Rosemead Municipal Code (RMC) and RMC Section 17.20.020 (Commercial and Industrial Land Uses and Permit Requirements) up to compliance with Senate Bill (SB) 1186 (Medicinal Cannabis Patients’ Right of Access Act), which will become effective on January 1, 2024. MCA 23-02 will update the City’s existing regulations for deliveries of medicinal cannabis and provide regulatory and operational restrictions for the establishment of a physical, non-storefront, delivery-only medical cannabis retail location as a conditionally permitted use in accordance with State law. CEQA – MCA 23-02 is not a project pursuant to California Environmental Quality Act (CEQA) Guideline 15378, because the activity undertaken involves general text amendments that would not cause either a direct physical change in the environment or a reasonably foreseeable indirect physical change in the environment and do not meet the definition of a “Project” under CEQA. The proposed Code Amendment is also exempt from CEQA under Section 15061(b)(3) of the CEQA Guidelines because CEQA only applies to projects that have the potential to cause a significant effect on the environment. It can be seen with certainty that there is no possibility that the text amendments will have a significant effect on the environment.

1. APPROVAL OF FINAL PARCEL MAP NO. 82176, A 4-UNIT CONDOMINIUM DEVELOPMENT PROJECT LOCATED AT 117 WEST NORWOOD PLACE.

By Nanette Ong

The development project located at 117 West Norwood Place, is a 4-unit condominium on a 16,000-square-foot lot. Staff and the City’s contract consultant for land surveying, RKA Consulting Group, Inc. have reviewed the Final Tract Map and determined that it is in compliance with the State Subdivision Map Act, Conditions of Approval, and the City’s ordinances regarding subdivision. There is no fiscal impact related to this item. California Environmental Quality Act (CEQA) Determination: The project has been reviewed for compliance with the California Environmental Quality Act (CEQA), and is exempt from CEQA based on Section 15332. Class 32 exemption (In-fill Development). In compliance with Section 66412.3 of the Subdivision Map Act, the Planning Commission has determined that the subdivision is consistent with the City’s actions with regards to the region’s housing needs.

PC RESOLUTION 23-03 - A RESOLUTION OF THE PLANNING

2. COMMUNITY SERVICES DEPT AND MISSION PLAYHOUSE REPORT

COMMISSION OF THE CITY OF ROSEMEAD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, RECOMMENDING THAT THE CITY COUNCIL ADOPT ORDINANCE NO. 1018 FOR THE APPROVAL OF MUNICIPAL CODE AMENDMENT 23-02, AMENDING SECTIONS 17.20.020, 17.40.010, 17.40.020, 17.40.030, 17.40.040, 17.40.050 AND ADDING SECTIONS 17.40.060 AND 17.40.070 TO BE IN COMPLIANCE WITH SENATE BILL 1186 (MEDICINAL CANNABIS PATIENTS’ RIGHT OF ACCESS ACT). STAFF RECOMMENDATION - It is recommended that the Planning Commission adopt Planning Commission Resolution No. 2305 with findings, a resolution recommending that the City Council adopt Ordinance No. 1018 for the approval of MCA 23-02.

The San Gabriel Community Services Department, formerly Parks and Recreation Department in 2014 and since transcended to the Community Services and Mission Playhouse Department since 2019, focuses on the recreation and human service needs of residents, and park and open space needs of the community.

09/12/2023, City Council Meeting The City Council had a Discussion Regarding Letter of Support of Senate Bill 710 (Durazo) Sale of Excess State Highway Property: State Highway Route 710 Terminus – As Amended At the September 12, 2023, City Council meeting, the City Council directed City staff to bring back the amended text of Senate Bill 710 for further review. The City Council will discuss the continued opposition or support of Senate Bill (SB) 710 (Durazo) Sale of excess state highway property: State Highway Route 710 Terminus as amended. The City Council is currently opposing it, because it paid into the project to support the 710 upgrade, in hope of lightening the traffic burden, but now when the excess highway gets sold, the city does not get any of the sale proceeds back in return.

The department helps: • Manage the Community Recreation Center, Adult Recreation Center and Grapevine Park, and Smith Park Pool • Provide diverse and affordable recreation opportunities for people of all ages, interests, and abilities • Provide Park planning for Smith, Vincent Lugo, Marshall, Roosevelt, and Plaza Parks, and two joint use parks, Washington and Coolidge. • Provide community special events • Provide quarterly recreation publication • Manage the jewel of the Mission District and the center for arts and Culture in the San Gabriel community • Operate the Playhouse that was built in 1927 to house John Steven McGroarty’s iconic Mission Play • Offer one of the largest stages in Southern California, a movie screen, digital projection equipment, and a theater that seats over 1,300 people • Maintain a Wurlitzer Theatre Pipe Organ with a unique history The department services include: • Recreation classes •

Aquatic classes

•

Transportation Services - MTA Bus Passes and Ride SG+

•

Park and Facility Rentals

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Older Adult Programs - meal programs

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Youth Programs

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Passport Services

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Special Events

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Mission Playhouse Rentals

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Theater Maintenance

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Silent Sundays and Special Events at the Playhouse

•

Ticketing Services Cont’d on page 36 35

Cont’d from page 36

Temple City

3. SAN GABRIEL VALLEY COUNCIL OF GOVERNMENTS (SGVCOG)-

By Shun Zhang

SGVCOG gave a report on what they do and what has been accomplished in 2023. SGVCOG help the community meet common needs by helping agencies implement the programs that come from Legislature but do not always have funding associated with them. The programs maximize local dollars to comply with state laws. Some programs San Gabriel are involved with is the Food Recovery Program.

Item #1: City Council is to review the themes for both Temple City Park and Live Oak Park locations and provide SWA, landscape architect, with feedback and selection of one theme for each park. City Council spoke in favor of the Space Station theme for Live Oak Park. Colorful shade cover, full use of the space rocket for children to play in, lights for the playground, and more trees for additional shade at the playground.

SGVCOG also are involved with programs such as the Affordable Housing Incubator Program, Upper LA River Watershed Management, Safe Clean Water Program Special Studies, and Vehicle Miles Traveled Program. SGVCOG aids in securing State and Federal funding to support locally based solutions to challenges. San Gabriel has formed support to gain services such as Fire Prep SGV, SGV CARE Mobile Crisis, SGV Transit Feasibility Study, SGV Works, and Tiny Home Bridge Housing. SGVCOG also locally helps improve the safety, health, and livability for San Gabriel Valley residents. A program San Gabriel takes part in is the Open and Slow Streets Mission to Mission program in collaboration with the cities of Alhambra and Pasadena. Other programs and projects in SGV include Measure M Subregional Program, SGV Regional Bikeshare Program (GoSGV), Fire Prep SGV, SoCalREN Public Agency and Multifamily Program, and High Acuity and Substance Use Disorder Services.

The estimated earliest Construction Start Date June 2024 and the earliest Completion date December 2024 or if the latest Construction start date is August 2024, latest Completion Date will be February 2025. Item #2: FINAL SUBDIVISION MAP APPROVAL FOR PARCEL MAP NO. 83734, A THREE-UNIT CONDOMINIUM SUBDIVISION PROJECT AT 5956 ENCINITA AVENUE

SGVCOG also strives to put neighbors first in providing access to homes, jobs, and care for all residents, particularly to our most vulnerable neighbors. Some programs provided are the Broadbands Needs Assessment and Strategic Plan, City Homelessness Programs, SGV CARE Mobile Crisis, Revolving Loan Fund, Village 143 Donation Drives, and Workforce Development Programs.

Public Hearings

SGVCOG has secured 74 million in federal, state, and county funding for San Gabriel Valley for the 2022-2023 year.

Item #4. 5421 LOMA AVENUE (PREVIOUSLY ADDRESSED AS 9134 1/2 RANCHO REAL ROAD) request to add an attached 430 square-foot, two-car garage and an 800 square-foot accessory dwelling unit to an existing 700 square-foot single-family dwelling. The owner is requesting a variance for the two-car garage to have a reduced rear yard setback of 4 feet, 6 inches, instead of the required 15 feet

10/3/2023 San Gabriel City Council Regular Meeting 1. CITYWIDE HISTORIC RESOURCES SURVEY REPORT Planning Manager Samantha Tewasart and Consultant Andrew Goodrich of Architectural Resources Group (ARG) made the report to inform the Historic Preservation and Cultural Resource Commission (HPCRC) who propose properties to be designated as historic; and discuss the pros and cons of historical designation for property owners. Discussion included benefits of the survey; acknowledgment of this milestone achievement; refreshing historic signs; historic tree maintenance; City tree survey; preservation of historic properties; Senate Bill (SB) 9 implications for historic properties; requirements for consistency in design for remodeling and accessory dwelling units; steps for Phase 2 of this project; Mills Act agreement details; SB 10 exemptions for designated historic districts; Secretary of the Interior standards as the basis for reviewing for historic properties; and the report as a facilitation for collaboration with property owners. A motion was made by Council Member Ding, seconded by Council Member Menchaca, to adopt the approval of the Citywide Historic Resources Survey Report. Motion carried by a vote of 5-0. 10/17/2023 City Council Regular Meeting 2. APPROVAL OF FINAL PARCEL MAP NO. 74404, A 2-UNIT CONDOMINIUM DEVELOPMENT PROJECT LOCATED AT 321 W. GLENDON WAY The City Council approved Final Parcel Map No. 74404, a 2-unit Condominium on 321 W. Glendon Way. Council authorized its filing with the Los Angeles County Recorder and authorized the City Manager to execute the Subdivision Agreement on behalf of the City.

The total estimated construction budget range for both Live Oak Park and Temple City Park is $3,350,000 - $4,081,000 which includes 20% contingencies. The budget amount is for required site improvements necessary for the installation of any playground equipment. The estimated fiscal impact for the Playground Renovation Project construction budget is $4,081,000 from ARPA funds, Fund 14.

Item #3. 9818 AND 9824 LONGDEN AVENUE requested a time extension for a tentative tract map and major site plan review for a single-family development that will result in four single-family lots and one street parcel. Each new lot will consist of a new, single family dwelling.

Item #5. 9201 Las Tunas Drive Drive-thru tea business (Seven Leaves Café). Encinita and Las Tunas Dr. Currently is Milk Alta Dana Diary. The Dairy was built in 1962 and closed down in 2020. AN ESTABLISHMENT OF AN EXPEDITED, NON-DISCRETIONARY MULTIFAMILY REVIEW PROCESS AND A LIBRARY OF PROTOYPE ARCHITECTURAL DESIGNS FOR MULTI-FAMILY PROJECTS IN THE R-2 ZONE was proposed to City Council. The proposed Ordinance and Resolution will allow a project applicant to submit a project consistent with the prototype plans developed by the City. With this the applicant’s process will be shorter, removing staff’s discretionary review and the review of the Planning Commission. It should be noted that the Planning Commission will still review the tentative maps associated with condominium subdivisions. This is only referring to R-2 Zone, R-3 Zone will be reviewed in the future. Other goals with the ordinance are: • Streamline the approval process for multi-family developments. • Reduce costs to applicants. • Shorten the time between submission and approval • Provide applicants with greater flexibility for obtaining Planning entitlements

L.A. County Board of Supervisors By Jim Clarke, G.A.D. No real estate related items to report.

Bizfed By William Wei LA COUNTY CLIMATE ACTION PLAN.LA County released an updated version of the County Climate Action Plan (2045 CAP), which includes a number of provisions, including an unprecedented 300 jobs per acre density requirement. Final CAP to be voted on by end of the year. Here are the key points in BizFed’s letter to the LA County Planning: •

The Draft CAP is inconsistent with the County’s economic goals, and inconsistent with the goals of the General Plan and Housing Element

•

The Draft CAP would require project applicants to comply with measures that are infeasible and conflict with other County mandates and policies.

•

Several measures rely upon State and Federal actions that are outside the County’s jurisdiction

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The Draft CAP fails to consider the implementation challenges associated with the proposed Offsite Reduction Plan

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The Draft CAP should not be adopted as a component of the County’s General Plan

More info about the CAP and BizFed’s letters to the LA County Planning can be found here: https://planning.lacounty.gov/long-range-planning/climate-action-plan/ documents/ L.A. COUNTY AND CALOSHA PROPOSED SILICA BANS. What began as a county motion was heard in the CalOSHA Standards Board Hearing this month, for potential Emergency Temporary Standards around banning Silica based building materials. (Source: https://laist.com/news/health/la-county-supervisors-take-initialstep-toward-a-ban-on-artificial-stone-countertops) Rent Control State: A ballot initiative to repeal the 1995 law known as the Costa-Hawkins Rental Housing Act. The initiative seeks to expand local governments’ authority to enact rent control on residential property. This marks the 3rd time that this measure will be before voters. L.A. County: The County Board of Supervisors unanimously passed two motions on 7/11 aimed at protecting renters/preventing homelessness. The first motion updates the County’s already-established ordinance by adding protections to prevent at-risk renters from becoming homeless. The second ordinance calls for an ordinance to codify legal representation at no cost for qualified tenants facing eviction in unincorporated communities. See article (https://dailybruin.com/2023/07/14/la-county-passes-2-motions-aimed-atprotecting-renters-preventing-homelessness) L.A. City: Mayor Karen Bass and Councilmember Nithya Raman recently announced tenant rights resources and investments ahead of the August 1 deadline for payment of back rent for the first 18 months of the COVID emergency period. See fact sheet and resource page (https://mayor.lacity.gov/ news/mayor-bass-and-councilmember-raman-announce-tenant-rightsresources-and-investments-ahead). e 37

San Gabriel Valley REALTORS® Installs 2024 Leadership Team San Gabriel - December 8, 2023 The WEST SAN GABRIEL VALLEY REALTORS® (WSGVR) has installed its 2024 Leadership Team. Leading the team is WSGVR President Ling Chow. Serving with Chow are President-elect Yin Bihr, Treasurer Jeff (Huei) Huang, Secretary Thomas Wong, and Immediate Past President Brian Chen. Serving as President is Ms. Ling Chow. As the WSGVR’s 2010, 2023, and 2024 President, Ling Chow has been working as a REALTOR® since 1995. She has served on numerous committees as a member and Chair/Vice Chair. She continues serving on the WSGVR Board of Directors since 2004. In 2010, as WSGVR President, she led the first delegation to conduct the Trade Mission to Taiwan. She has helped WSGVR build a benevolent and friendly relationship with Taiwan real estate associations and earned the National Association of REALTORS® (NAR) Ambassador Association to Taiwan since 2009. Today, she continues to support and cherish the relationships with all WSGVR’s Global Partners.

Master of Ceremonies: Nanette Ong and Brandon Savransky

Ling has been a California Association of REALTORS® (C.A.R.) Director since 2005. She has served on various C.A.R. Committees: C.A.R. Expo Advisory Committee, Global Real Estate Forum, Legislative Committee, Federal Committee, Credential, Association President, Taxation & Government Finance, Nominating Committee. She was the Vice-Chair of C.A.R. Expo Advisory Committee and Chair of the Global Real Estate Forum in 2018. She was a Region 16 Chair in 2013 and has been selected as Region 16 Chair in 2025. Currently serving as NAR Director since 2022, 2023, and 2024. And she has actively served on the Federal Financing & Housing Policy Committee since 2021. Installing Office: Melanie Barker, 2024 C.A.R. President

Installation Held At Hilton San Gabriel

Installation of Ms. Ling Chow as President

Prizes

Table Settings 38

Ms. LIng Chow’s Acceptance Speech

Installation of the Board of Directors On May 21, 2010, Ling was awarded by California Assemblymember, Mike Eng, as one of the Asian/Pacific leadership of the Year. In 2011, she was selected as the WSGVR REALTOR® of the Year. Ling has earned many of NAR’s Designations and Certifications: Certified International Property Specialist (CIPS), Senior Real Estate Specialist (SRES), At Home With Diversity (AHWD), and C2EX endorsed. She has also volunteered as a Director of the Chinese American Real Estate Professional Association (CAREPA) and was the President in 2009. Presently, she is a C.A.R. zipForm® Plus Certified Instructor and was the NAR REALTOR® Property Resource (RPR) Certified Instructor. As a DRE licensed Broker, she has worked in the industry for more than 30 years as a manager and/or broker. She is now the broker/owner of her own company since 2019. Serving as President-Elect is Ms. Yin Bihr. Ms. Bihr is the 2024 Presidentelect and a Broker Associate with Masters Realty in San Marino. She is active in advocating real estate-related issues and participating in real estate organizations at the local, state, and national levels. Yin has been a member of West San Gabriel Valley REALTORS® since 1991 and has served on and chaired numerous committees. She currently serves as a California Association of REALTORS® (C.A.R.) Director. Yin was WSGVR’s 2012 President and C.A.R.’s 2015 Region 16 Chair, representing West San Gabriel Valley REALTORS® and Citrus Valley Association of REALTORS®. She is serving on C.A.R.’s Executive Committee in 2024. Yin was appointed by the 2016 NAR President, Tom Salomone, as the NAR President’s Liaison to Malaysia. She was also appointed as the 2016 Vice Chair of the CIPS Advisory Board at NAR. Serving as Vice President is Pauline Lam. Ms. Lam has been working as a REALTOR® with KoTai Realty, San Gabriel since 2002 specializing in

Installation Attendees

Residential and Commercial real estates. Pauline has earned CIPS, CRS, GREEN, Real Estate Masters, GRI, TRC, Green, and REBAC designations certified by National Association of REALTORS® (NAR) and she is a CCIM candidate. Pauline has been a member of the West San Gabriel Valley Realtors® since 2002. She has been serving as 2021-2024 Board of Directors and 2024 Vice President of the WSGVR, the Chair of 2024 Multiple Listing Service Committee and the member of Legislative Committee, Global Business Council and Bylaws/Policy & Procedures Committee. For CA State leadership, Pauline Lam is serving as 2021-2024 CAR State Director. She currently serves as “California Residential Real Estate Council” (CA RRC/CRS) Education Chair and “Regional Network Director”. Locally, she serves as Member of Assessor Advisory Board to LA County Assessor Jeffrey Prang and also serves as 2024 Director of AREAA TriCounty Chapter, the non-profit organizations in the community. Serving as Treasurer is Jeff (Huei) Huang. Jeff has been working as a REALTOR® since 2019. Since then, Jeff has served on numerous committees at the West San Gabriel Valley REALTORS® (WSGVR) and its Board of Directors. Jeff graduated from USC with a bachelor’s degree in business administration with an IT emphasis. Afterward, Jeff was hired by USC as a project manager and then as an operational IT manager for 15 years. During that time Jeff explored the real estate industry as a part-time agent and volunteered in various non-profit organizations. In 2019, Jeff made the transition to be a full-time REALTOR® and became involved with WSGVR as an elected volunteer position. Jeff is interested in real estate, passive investing, traveling, and most of all being an inspiring dad guy to his two kids. Cont’d on page 40

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Cont’d from page 39

Serving as Secretary is Tomas Wong. Tomas Wong is a REALTOR® affiliated with RE/MAX 2000 Realty. He is a self-driven professional with extensive experience in Residential and Commercial Real Estate. Currently, Tomas is an active member of the West San Gabriel Valley Association REALTOR® and serves on the 2023-2024 Board of Directors. Additionally, he holds the positions of Chair of the Grievance Committee, Vice-Chair of the Finance Committee, Chair of the WSGVAR Foundation Golf Tournament, C.A.R Key Contact for Assembly member Mike Fong, and Liaison for the City of Monterey Park. Tomas has earned various designations and certifications, including CIPS, e-PRO®, GREEN, Short Sales and Foreclosure Resource (SFR), and Smart Home. He is a graduate of Northeastern University in Boston, Massachusetts, with a B.S in Engineering. Before entering the real estate industry, Tomas worked in Information Technology. A resident of Monterey Park, CA, since 1988, Tomas is trilingual, fluent in Spanish, English, and Chinese. Beyond his real estate pursuits, he enjoys travel, tennis, pickleball, golf, and various outdoor activities. His guiding life mantra is to “treat others with respects the same way you would like to be treated in life.

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Serving as Immediate Past President is Brian Chen. Mr. Chen started his real estate career in 1989 selling both residential and commercial properties. He has served on numerous committees including the WSGVR Board of Directors and has served as California Association of REALTORS® (C.A.R.) Director. Brian is a past WSGVR President and a past. President & CEO of the Multi-Regional Multiple Listing Service (currently known as the California Regional Multiple Listing Service). Along with the leadership team, WSGVR is welcoming its 2024 directors: Directors are Lorraine Clark, Dora Leung, Nanette Ong, Tom Tseng, Vince Veneziano, William Wei, and Shun Zhang. The 2024 leadership team begins their official term on January 1, 2024. The Leadership Team’s biographies can be found at https://www.wsgvr.org/2024-board-of-directors/.

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About the West San Gabriel Valley REALTORS®: The West San Gabriel Valley Association of REALTORS®, established in 1922, is a trade organization with more than 3,200 REALTOR® members. For over 100 years, WSGVR has served REALTORS® throughout Southern California, specifically in Alhambra, Monterey Park, Rosemead, San Gabriel, and Temple City. The mission of the West San Gabriel Valley REALTORS® is to safeguard private property rights by promoting an adherence to the REALTOR® Code of Ethics and professional competency of our members. e

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Chris Haun, Affiliate of the Year

Nee Wong, Distinguished Service Award 40

Brandon Savransky, Special Recognition Award

Nanette Ong, REALTOR® of the Year