1 ARCADIA REALTOR® · JANUARY/FEBRUARY 2015 JANUARY/FEBRUARY 2015 · ARCADIA REALTOR®

REALTOR®OFFICIAL PUBLICATION OF THE ARCADIA ASSOCIATION OF REALTORS®

PROUDLY SERVING THE REALTORS® OF ARCADIA, BRADBURY, DUARTE, MONROVIA & SIERRA MADRE

2015AnnualInstallationof Officers& Directors See page 10

FROM THE CEO’S DESK

Dear Arcadia Association of REALTORS® Members and Affiliates,

As we move further into this new year of 2015, your Board of Directors and I would like to take a moment to extend our sincere gratitude to each of you for your ongoing commitment to our industry and for either renewing your membership, joining for the first time or transferring your membership to the Arcadia Association of REALTORS®.

You are a member of one of the fastest growing REALTOR® association in the entire United States and we wouldn’t be able to make this claim without you, so thanks again!

2014 was a yet another year of our industry making a huge comeback along with so many positive things happening in our marketplace. You should take pride in knowing that through your efforts, countless clients and customers have found successful solutions to their real estate needs. Undoubtedly, they will be loyal to you in the years ahead, and for that outcome, we thank you.

For 2015, the commitment from the Arcadia Association of REALTORS® has never been stronger. Our focus this year will be on helping your business grow by providing you with access to leading industry related tools, even more education and outstanding member support. Stay tuned for exciting technology advancements for all our members this year!

On behalf of the entire staff and Board of Directors at the Arcadia Association of REALTORS®, we wish you the best of success for a profitable and healthy remainder of the year!

Andrew CooperChief Executive Officer

2015 ASSOCIATION OFFICERSJoseph Pacilio

2015 PRESIDENTRoy Blume

PRESIDENT-ELECTKelvin Chang

VICE-PRESIDENTSylvia Ramos

SECRETARY/TREASURER

ASSOCIATION STAFF Robin Allen Ext. 307 Director of Finance / Office Manager Robin@TheAAR.com

Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com

Patricia Burns Ext. 303 Director of Communications & Education Patricia@TheAAR.com Brenda Faltes Ext. 304 Director of Membership & Professional Standards Brenda@TheAAR.com Jamie Hu Ext. 309 Director of MLS Data Violations Jamie.Hu@TheAAR.com

Jane Shriver Ext. 301 Director of Association Services Jane@TheAAR.com

Laura Thai Ext. 304 Director of Broker Compliance & Member Outreach Laura@TheAAR.com

Andrew Cooper Ext. 308 Chief Executive Officer Andrew@TheAAR.com

REALTOR®

BOARD OF DIRECTORSRyan Asao

Andy BencosmeJulie Bencosme

Margaret GaremoreFred MadjarMark Ramos

David ScarminachIrene TruongMike Vachani

C.A.R. DIRECTORSRyan Asao

Andy BencosmeRoy Blume

Margaret GaremoreJoseph PacilioSylvia RamosRandall TrawMike VachaniKelvin Wong

ARCADIA ASSOCIATION OF REALTORS®601 South First Avenue

Arcadia, California 91006626.446.2115

626.446.4072 FAXwww.TheAAR.com

2 ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

JANUARY/FEBRUARY 2015 · ARCADIA REALTOR® 3

ContentsJANUARY/FEBRUARY 2015 | VOLUME 19 | NUMBER 1

RegularFeatures

11 Lifetime Achievement AwardCongratulations to our Lifetime Achievement Award winner, John Barker

11 2014 REALTOR® of the Year & Affiliate of the Year Awards Congratulations to our 2014 REALTOR® of the Year Award winner, Ryan Asao and to our 2014 Affiliate of the Year Award winner, Stephanie LaPorte

11 2014 Community Service AwardsCongratulations to our 2014 Community Service Award winners, Donna Baker & Jacquie Pergola

13 Join a Committee!One hour a month could mean a lifetime of business!

AdditionalContent

10 2015 Annual Installation of Officers & DirectorsA recap of the recent “A Bit O’ Broadway” themed 2015 Installation

On theCover

2 From the CEO’s Desk Andrew Cooper, Chief Executive Officer

4 Market Matters Market Statistics for the San Gabriel Valley

5 Attorney Comments Dave Freeman, AAR Legal Counsel

6 Through the Lens A Look at What’s Happening Around the AAR

9 Affiliate Corner “Support A Hero By Helping A Vet Buy A Home!” Scott Shimamoto, Franklin Loan Center

10 11 13

Market MattersMarket Statistics for the San Gabriel Valley - November 2014

Single Family Homes Condominiums SFR Only

City Zip Code

Sales of Single Family

Homes

PriceMedian SFR

($1,000)

Price % Chg from Nov. 2013

Sales Count

Condos

Price Median Condo

($1,000)

Price & Chg from Nov. 2013

Median Home Price/

Sq. Ft.

Arcadia 91006 12 $985 -16.9% 2 $749 -7.8% $550Arcadia 91007 12 $1,410 -10.2% 6 $530 -6.9% $678Duarte 91010 15 $380 4.5% 3 $297 25.1% $341El Monte 91731 3 $475 39.3% 2 $393 1.9% $325El Monte 91732 10 $351 -5.3% 4 $441 33.1% $301Glendora 91740 11 $435 6.1% 4 $270 -16.3% $353Glendora 91741 14 $605 -18.0% 2 $403 -1.8% $351Monrovia 91016 18 $563 3.6% 8 $449 9.7% $386San Gabriel 91775 14 $739 8.3% 0 n/a n/a $404San Gabriel 91776 15 $565 17.6% 2 $431 -20.9% $385San Marino 91108 5 $1,850 0.5% 0 n/a n/a $844Sierra Madre 91024 10 $663 -15.6% 2 $505 11.0% $460Temple City 91780 24 $701 25.2% 0 n/a n/a $399

4 ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

Market Statistics for the San Gabriel Valley - December 2014Single Family Homes Condominiums SFR Only

City Zip Code

Sales of Single Family

Homes

PriceMedian SFR

($1,000)

Price % Chg from Dec. 2013

Sales Count

Condos

Price Median Condo

($1,000)

Price & Chg from Dec. 2013

Median Home Price/

Sq. Ft.

Arcadia 91006 32 $1,054 -26.9% 6 $738 18.5% $582Arcadia 91007 24 $1,260 -3.1% 17 $518 3.6% $695Duarte 91010 12 $443 24.8% 9 $335 50.9% $311El Monte 91731 6 $327 -9.7% 2 $380 26.7% $255El Monte 91732 8 $413 16.2% 5 $360 0.7% $309Glendora 91740 17 $460 10.2% 3 $315 -11.0% $360Glendora 91741 21 $582 6.3% 6 $479 33.3% $345Monrovia 91016 19 $635 31.6% 11 $500 11.1% $422San Gabriel 91775 21 $818 8.1% 1 $418 39.3% $445San Gabriel 91776 12 $613 21.1% 3 $593 49.0% $405San Marino 91108 13 $2,050 3.1% n/a n/a n/a $887Sierra Madre 91024 7 $1,138 76.1% 3 $545 n/a $531Temple City 91780 15 $645 -1.0% 2 $595 50.3% $431

Source: DQNews.com

Judgment Against Supervising Broker For Agent’s Fraud Is Dischargeable In Bankruptcy (Not always) the agent sold a grocery store in Long Beach to the buyer. There was a good deal of fraud proven in court, after the buyer lost a considerable amount of money, and the buyer was awarded $900,000 against the agent and the supervising broker.

The broker filed bankruptcy to avoid the debt staying with him for life. The buyer filed an action in the bankruptcy court to prevent the broker’s discharge of the judgment lien. The court ruled the judgment amount against the broker could be discharged in bankruptcy, because there was no showing that the broker knew or reasonably should have known of the fraud. Normal debts are dischargeable in bankruptcy; fraud judgments generally are not. However, here the broker did not participate in, nor was aware of the fraud, and therefore, even though he was found liable as the supervising broker, the debt of the broker could be discharged in his bankruptcy.

Property Tax Postponement For Senior Citizens Although Prop. 13 has saved many California homeowners from losing their properties to ever-increasing property taxes, some folks still were in the danger zone due to fixed incomes, increasing prices of goods and gradually increasing taxes. California has the highest or nearly highest income tax, sales tax, and gas tax in the country.

For this reason, some time ago a program was passed into law, called Property Tax Postponement.

This allowed people 62 years of age, who make less than $35,000 per year and have equity in their homes of 40% of the value of the

property to apply for postponement of their property taxes until they sell the home. They must re-apply annually and the state puts a lien on the home. The taxes are paid plus interest at the time of sale. A reasonable solution.

HOWEVER, the law expired in 2009. Through great lobbying efforts, Assembly Bill 2231 was successfully pushed through both the California Senate and Assembly, and now has been signed by the governor. This program may not be for everyone, but for those in dire need, it is a much needed home-saver.

Wrongful Suit Costs Buyer A buyer sued the listing agent and the seller for failure to disclose defective subflooring. During the escrow, the agent had supplied the buyer with photographs and reports disclosing the problem, and did not represent the buyer. Nevertheless, the buyer proceeded with a full superior case lawsuit.

The agent’s attorney filed a “128.7” motion for dismissal and sanctions (money damages against the buyer). The court granted the dismissal of the suit against the agent and awarded $60,000 damages against the buyer for the agent’s attorney fees. (The ruling was confirmed by the Appellate Court). Courts do not like to grant a dismissal at an early stage of litigation, but this is a motion I favor when there is a suit that initial facts show should not be filed.

JANUARY/FEBRUARY 2015 · ARCADIA REALTOR® 5

AttorneyComments

By Dave Freeman, Association Counsel

A Look at What’s Happening Around the AARthrough the lens

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8 ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

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As many of you know, my hobby and passion is performing standup comedy. There is NOTHING more rewarding than talking to a room full of strangers and putting them in a good mood through laughter! Lately, I’ve been fortunate to be

able to use my comedic talent to give back to the heroes that make it possible for all of us to live in freedom and safety. I’m talking about our active duty military personnel and veterans who have finished their tours of duty. I’ve recently performed in some really fun events that benefited veterans. I’ve had the honor to share the stage with some big time celebrities in these shows like Jim Belushi, Dan Aykroyd, Rob Reiner, and Mellow Man Ace! OK shoot me. I’m blatantly dropping names! Maybe comedy is not your thing, but as real estate professionals, you can give back to veterans too. You can do this by helping Veterans achieve the American Dream by assisting them with purchasing their home! This is a winner for you and the Veteran! I’m sure you know that there are special home loans out there that are designed for veterans. These are called Veteran’s Administration or VA loans. Why are these loans so good? •TheyallowaveterantopurchaseahomewithNO MONEY DOWN! •Theydonotallowveteran’stopaycertainclosing costs! •ThereisNOmonthlyPMI! •VAloansdohavea“fundingfee”,butthatcanbe financed into the loan! •Ratesareverycompetitiveforthesetypesofloans!I know some of you “Real Estate Veterans” may be saying: “it sounds great on paper, but those VA loans are too much hassle to deal with and the listing agent will not accept an offer on a VA loan”. This is not true anymore. I’ve closed several of these loans recently and as long as the loan officer does a good job up front of gathering all of the documentation needed to complete the transaction, these loans are no more

difficult to work with than FHA or conventional loans. There is no need for a 60 or 90 day escrow on these types of loans. Assuming the preapproval was done properly, a 30 day escrow should be fine. Where you can get into a pickle is if you don’t have all of the documentation that the military organizations need to provide to the lender. In case you haven’t figured it out yet, there is NO expediting the government! But like I said, if the loan officer does a good job up front, this is not a problem. Really, the only twist on VA loans that you need to be aware of is if the property is a Condominium/Townhouse/PUD. If you are listing a Condominium/Townhouse/PUD and want to open up your potential buyers pool, you should confirm that your complex is VA eligible, by contacting a qualified Loan Officer who can look it up for you. If your complex is not VA approved, then you probably need to move on to a conventional loan or cash buyer. Getting a complex approved for a VA loan is very time consuming and expensive. If you’re representing a buyer who wants to use a VA loan on a Condominium/Townhouse/PUD, it is MUCH more efficient to identify which cities the buyer is interested in so that you can target the complexes that are VA approved. I had a client that went online and started finding potential condos and then asked if each complex was approved. After a few inquiries, this turned into an awesome waste of everybody’s time and the buyer started getting frustrated. I strongly advised him to tell me which cities he was interested in so that I could provide him with a list of complexes that were eligible. Just to let you know, most of the cities in this area have anywhere from zero to about six complexes that are eligible. Needless to say, once I convinced the buyer to identify the cities, it saved us both tons of time! So don’t be afraid of the VA loans! They are your friends!!! You can give back to your military heroes and open a new market niche for yourself!

“Support A Hero By Helping A Vet Buy A Home!”By Scott Shimamoto, Franklin Loan Center

AFFILIATE Corner

10 ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

The Arcadia Association of REALTORS® recently installed the new 2015 Officers and Directors at the 91st Annual Inaugural Celebration held on Friday, January 9th at the DoubleTree Hotel in Monrovia. More than 200 REALTORS®, Affiliates and guests attended the “A Bit-O’ Broadway” themed event.

Master of Ceremony for the evening was Scott Shimamoto with Franklin Loan Center. The Installation ceremony was officiated by Mr. Terry Q. Earll, 1999 AAR President and broker of Century 21 Earll, LTD.

The Officers installed were: Joe Pacilio, President; Roy Blume, President-Elect; Kelvin Chang, Vice President and Sylvia Ramos, Secretary/Treasurer. The 2015 Directors are: Ryan Asao, Andy Bencosme, Julie Bencosme, Margaret Garemore, Fred Madjar, Mark Ramos, Dave Scarminach and Mike Vachani.

The Installation ceremony of 2015 President, Joe Pacilio and Officers and Directors was followed by the presentation of the coveted “REALTOR® of the Year” award presented to Ryan Asao, Podley Properties and the “Affiliate of the Year” award presented to Stephanie LaPorte, Old Republic Home Protection.

Outgoing President, Mike Vachani, received special honorariums and recognition from the City of Arcadia, City of Sierra Madre, Congresswoman Judy Chu, U.S. Representative for California’s 27th Congressional District; Assemblyman Ed Chau, California State Assemblyman representing the 49th District, and Jeffery Prang, Los Angeles County Assessor’s Office.

Acknowledgement of special guests included eight Arcadia Association Past Presidents along with Presidents and Association Executives from several neighboring Associations.

REALTOR® of the Year Award, Ryan Asao

A bit o’ broadway

Ryan Asao obtained his Real Estate License while he was still in school at California State Fullerton and decided it was better to invest time into real estate while the market was still “hot.” After joining the Arcadia Association of REALTORS®, Ryan joined the Tech Committee in 2003 and was selected to serve on the Board of Directors in 2008.

Ryan has worked tirelessly for the Arcadia Association of REALTORS®, CAR® and NAR®. He has chaired or served on almost every committee at Arcadia Association of REALTORS®. He has been equally active at CAR® where he is currently serving on the CAR® Strategic Planning & Finance Committee as well as serving on NAR®’s Strategic Thinking Advisory. He has also been very involved with the National Association of Hispanic Real Estate Professionals as well as the Asian Real Estate Association of America. Everyone who knows Ryan knows that he is not just another REALTOR®, but a friend for life!Presenter Andy Bencosme with

winner Ryan Asao.

MC of the night Scott Shimamoto.

2015 President, Joe Paciliogives his acceptance speech.

Presenter Jeffery Prang withMike Vachani.

2015 aNNUAL INSTALLATION

Affiliate of the Year Award, Stephanie LaPorte

Outstanding Community Service Award, Donna Baker & Jacquie Pergola

Lifetime Achievement Award, John Barker Starting in 1975 at the age of 18, John had his first sale within 2 weeks of obtaining his real estate license. He owned and operated his own multi-million dollar producing franchised office which he sold to Coldwell Banker in 2001.

He served as President of the Arcadia Association of Realtors in 1995, Realtor of the Year honors in 1996, and served for many years as a director of the California Association of Realtors. In 2010 he became GM of Prudential California Realty in Sierra Madre; a year later purchasing the company with his business partner Reni Rose. He holds the designations of Certified Real Estate Brokerage Manager, Certified International Property Specialist, Certified Negotiation Specialist, Transnational Referral Certified, Generational Housing Specialist, Senior Real Estate Specialist, and Relocation Specialist.

Stephanie LaPorte has shown this time and again. Her dedication in giving to the community in a multitude of ways; she handed out food for Thanksgiving at the Foothill Unity Center, was also on the committee for the Santa Anita YMCA Red Gala Event, and served Operation Gratitude, an organization that assembled care packages for service people overseas.

Stephanie also gives back to the AAR and Charity Events. One of Stephanie’s greatest contributions to the AAR has been her participation in the AAR Annual Scott Burtz Charity Golf Tournament, fund which she chaired with a partner for 5 years. Stephanie was Affiliate of the year in 2006.

Donna Baker started real estate in 2001, since 2002, Donna has been the #1 agent in her office and one of the top agents in Monrovia. Donna serves as Historic Preservation Commissioner in Monrovia, traveled to Thailand to work on the Jimmy Carter Work Project with Habitat for Humanity, and supports many community organizations and activities, with a major focus on young people. Last year, Donna was awarded the Woman of Distinction Award by Congresswoman, Judy Chu and received the coveted Iris Award as 2008 Citizen of the Year from the Monrovia Chamber of Commerce.

Jacquie Pergola has been a realtor for twenty four years. She has been a member of the Arcadia Association for over twenty years and has served on many committees. She has been highly active in Sierra Madre’s community and has served on the Fourth of July Committee, the Chamber of Commerce, and was a member of the Civic Club. Jacquie has worked tirelessly for the elderly community in Sierra Madre fundraising for a health fair and dial-a-ride. She is on the Board of Directors for the Creative Arts group in Sierra Madre. Jacquie Pergola and her husband Joe were voted citizens of the year for Sierra Madre in 2014.

JANUARY/FEBRUARY 2015 · ARCADIA REALTOR® 11

Presenter Irene Yamagata-Bermudez with winners Donna Baker and Jacquie Pergola.

John Barker with Presenter, Dave Scarminach.

Stephanie LaPorte gives her acceptance speech.

12 ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

JOSEPH PACILIO2015 President

RYANASAO

Director

ROY BLUME2015 President-Elect

KELVIN CHANG2015 Vice President

SYLVIA RAMOS2015 Secretary/Treasurer

ANDYBENCOSME

Director

JULIEBENCOSME

Director

MARGARETGAREMORE

Director

FREDMADJARDirector

MARKRAMOSDirector

DAVIDSCARMINACH

Director

IRENETRUONGDirector

MIKEVACHANI

Director

YOUR ARCADIA ASSOCIATION OF REALTORS®

2015 OFFICERS & DIRECTORS

13 ARCADIA REALTOR® · JANUARY/FEBRUARY 2015

HELP SHAPE THE FUTURE OF THE AAR!

JOIN A COMMITTEE

Be a part of the AAR team and make new contacts, be involved in the decision making process and learn about current trends in the industry. The Association wants your ideas and encourages you to get involved!

Local Governmental Relations Membership

Commercial &

Investment

Young Professionals Network

Events 4

Charity

Auxiliary

Multiple Listing Service

Global Real

Estate

Equal Housing

&Community

Outreach

Education

Call the Association TODAY

to find your perfect committee!

(626) 446-2115

JANUARY/FEBRUARY 2015 · ARCADIA REALTOR® 13

“Maximizing Your DeductionsWhile Minimizing Your Liability”Course Provider - Robert Hall & Associates

Register online at www.TheAAR.comby clicking the event name under “Upcoming Events”

Join us to learn: - What are the top 5 deductions on a real estate tax return? - What is the most audited deduction? - Can I pay myself a reasonable salary? - Does setting up an LLC decrease the potential for audit? - Does Incorporating Allow for Additional Tax Deductions? - Trust vs. INC vs. Insurance Policy - and much more!

Registration Required: Your Reservation will Reserve Your Seat!

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www.TheAAR.com ~ 601 S. First Ave. Arcadia, CA 91006 ~ 626-446-2115 ~ Fx. 626-446-4072

Tuesday, February 17, 2015

Time: 10:00 a.m. - 12:00 p.m.

Course Cost: FREE*

Arcadia Association of REALTORS®601 S. First Ave. Arcadia, CA 91006

Refreshments sponsored byJimmy Alam, Augusta Financial

Arcadia Association of REALTORS®601 South First AvenueArcadia, California 91006

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