june 1st issue, san antonio

June 1, 2009

The Limelight Independence Title Company

Page 2-A Page 3-A

Sales Pep Talk Some Real Value for Your Customers

PRSRT STDUS

POSTAGEPA I D

Victoria, TXPERMIT 207

Section A

If homeowners have high expectations that home prices will hit bottom in the next six months, Realtors are even more optimistic, according to a survey by home valuations and listings site HomeGain.

Only 29 percent of 1,150 Realtors surveyed by HomeGain from May

6-11 said they expect home values in their

market will decline

in the next

six

months. About half (49 percent) said they expect home values will stay the same, and 22 percent were expecting values to increase.

A recent survey of consumers by HomeGain rival Zillow found that 37 percent of homeowners expect price declines in their local markets in the next six months. Two-thirds of homeowners surveyed by Zillow believe home values

will increase (26 percent) or stay the same (37 percent) over the next six months.

Asked about their own property, three out of four surveyed by Zillow expected their home's value would hold its own or increase in the next six months -- demonstrating that homeowners remain "starry-eyed" about the future, since few markets are expected to perform that well, the company said (see story).

The vast majority of Realtors surveyed by HomeGain -- 84 percent -- said they believed their clients' homes had,

on average, decreased in value in the last year. Only 12 percent said their clients homes had retained their value, while 3 percent said they'd increased in value.

When selling a house, clients were

The REALTOR®/Builder Bus Tour is coming up Friday, June 5th! The buses will be in the parking lot at Lowe’s located at IH-10 and Callaghan Rd at 7:00 a.m. A continental breakfast will get our day off to a good start. Then, the buses will leave promptly at 7:59 a.m. Throughout the tour we will have door prize give-a-ways as well as prize give-a-ways at the Expo and Lunch.

Prizes will include an HP Laptop, Garmin GPS, Apple I-Pod nano, gift baskets and many more! We will tour the rapidly developing IH-35 Corridor which will include communities located in Selma, Cibolo and Schertz. Expansion along this corridor can most probably be attributed to Fort Sam although part of the allure is that this corridor is still very affordable while pricing for tracts and homes is most definitely on the rise.

Some of the beautiful communities

we will tour include: Retama Springs, developed by Centex, their pricing starts at the $130’s; Riata Terrace, developed by D.R. Horton, their pricing starts at the $120’s; Gatewood, developed by FieldStone Homes, their pricing starts at $104,000; Cibolo Valley Ranch, developed by Lennar Homes, their pricing starts at the $150’s; Stonebrook, developed by Imagine Homes, their pricing starts at the $140’s; Buffalo Crossing, developed by Hogan Homes, their new homes start from the $160s; and The Links at Scenic Hills, developed by KB Home, their pricing starts at $113,995. Seats are only $27 per person and we’re filling up quick! To reserve your seats go to ims.sabor.com or call Janelle Chapman at 210- 593-1200 Ext. 121. We are looking forward to this grand event and look forward to seeing you there!

The National Association of Home Builders (NAHB) announced today that Build San Antonio Green™ is a recipient in the 2009 NAHB National Green Building Awards.

Build San Antonio Green™ received the award for “Green Building Program of the Year.”

The prestigious annual awards

honor home builders, remodelers, home builders’ associations and other organizations for advancing green building through innovative design and construction techniques, excellent educational programs and successful advocacy efforts.

Build San Antonio Green™, San Antonio’s residential green building program, is a partnership of the Greater San Antonio Builders Association and

Keller Williams Realty San Antonio, Texas, South Texas Region Alamo He i g ht s He r i t a g e , San Antonio’s largest real estate office according to the San

Antonio Business Journal Rankings, has partnered with Deborah Myers to open a Keller Williams branch in Alamo Heights.

The Alamo Heights Business

Center is located at 1812 Nacogdoches Rd, formerly Deborah Myers Real Estate. Myers, a 9-year-old boutique real estate brokerage with more than 20 agents, has transitioned to Keller Williams Heritage.

Myers was excited about the opportunity to take care of her

Realtors Optimistic About Price Bottom

SABOR Bus Tour June 5th 2009

Build San Antonio Green™ 2009 NAHB National Green Building Award Winner

KW Realty Heritage Partners with Alamo Heights Brokerage and Opens Office

The ShowCase USA is now featuring Inman News, the leading source of independent real estate news, information, advice, research, opinion and commentary for industry professionals and consumers alike.

See PRICE BOTTOM on Page 7-A

Deborah Myers

S BORSAN ANTONIO

BOARD of REALTORS

2009 SABORIH-35 CORRIDOR BUS TOUR

2 mi

Compliments of

N

1

1

Riata Terrace D.R. Horton130,000-$180,000210-566-5021

2

7

3 6

1604

5

Cibolo

UniversalCity

Schertz

Northcli� Golfand Country Club

Roy Richard Dr.

Green Valley Rd.

Lookout Rd.

Pecan St.

Seguin Rd.

GatewoodFieldStone Homes$105,900-$168,900210-566-6222

Retama SpringsCentex$130,000-$170,000210-651-0598

Cibolo Valley Ranch Lennar Homes$150,000-$180,000210-659-0888

4 StoneBrook Imagine Homes$140,000-$200,000210-807-3570

Buffalo Crossing Hogan Homes$180,000-230,000210-447-9494

The Links at Scenic Hills KB Home$113,000-$153,000830-620-4536

Real Estate Industry News&Events San Antonio

218

35

35

Retama Park

1103

2

3

6

4

5

7

Country Club Blvd.See PARTNERS, Page 5-A

See BUILD GREEN, 1-A

The bus tour will be stopping at Retama Springs, Riata Terrace, Gatewood, Stone Brook, Cibolo Valley Ranch, Buffalo Crossing and The Links at Scenic Hills.

The ShowCase USA www.TheShowCaseUSA.comJune 1, 20092-A

We live here, work here, invest here.

w w w . I n d e p e n d e n c e T i t l e . c o m

La Cantera Office7575 North Loop 1604 W, Suite 105

San Antonio, TX 78249 Office: 210/237-4620 • Fax: 210/237-4520

Lincoln Center Office7800 IH 10 West, Suite 135

San Antonio, TX 78230Office: 210/237-4600 • Fax 210/237-4500

Schertz Office4917 FM 3009, Suite 100

Schertz, TX 78154Office: 210/651-4171 • Fax: 210/651-4249

Stone Oak Office18615 Tuscany Stone, Suite 150

San Antonio, TX 78258Office: 210/237-4640 • Fax: 210/237-4540

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owned & operatedTitle Company in Texas!

Independence Title Business Development TeamBrynn Rouse, Andrea Gimblet, Gail Couser, Denice Brown & Margaret Hollingsworth

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ITClimelight.pdf 5/15/09 2:36:09 PM

The ShowCase USAwww.TheShowCaseUSA.com June 1, 2009 3-A

1B SABOR CEO Receives William R. Mangel Award of Excellence

1B KB Home is Recognized with 2009 Energy Star Leadership in Housing Awards

2B 2009 GSABA Golf Extravaganza

7B Exit New Century Hosts Educational Event

9B Best Homes GMAC Real Estate Expands Services to now Offer Property Management

10B Sitterle Homes Opens for Sales in Salado Canyon

4A Housing, Economic Growth Heading to Higher Ground

4A Realtors Help Buyers, Sellers Navigate Short Sale Transactions

4A Spring Price/Rate Thaw, Tax Credit Draw Home Buyers

5A Uniform Precess for Short Sales Will Help Struggling Homeowners

8A Realtors Explore Land Use Challenges, Opportuniites

9A Adapt Your Marketing Strategies to the new Reality

1B Calling out Real Estate 'Junk Fees'

2B New Home Supply-Demand Balance Improving

6B Realtors See Buyers Returning to Market

7B Credit is Key to Real Estate Recovery

8B Foreclosure and Short Sale Discounts Weigh Down Metro Area Median Prices

9B Realtors Federal Credit Union Opens for Business

10B Realtors Recognize the Power of Green

6A Keller Williams Red Day

4B PT 50 Early Quali� ers, NAPMW May Meeting

3B New Agents Welcomed!

11B Announcements and Calendar

LOCAL/STATE NEWS

NATIONAL NEWS

AGENT SIGHTINGS

AGENTS ON THE MOVE

INDUSTRY NEWS & EVENTS

Sales Pep TalkBy Paul Montelongo

Dan DiepenhorstPrivate Mortgage Banker

2526 N. Loop 1604 W. Suite 150San Antonio, TX. 78248

P (210) 492-4900F (210) 492-4913

Legacy Mutual Mortgage does FHA, VA, Conventional, Texas VET, Jumbo Loans, New Construction and all in-house. That means when you need a QUICK TURN AROUND for your client we can make it happen.

Just Getting it Done

Processing

Underwriting

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Value, value, value….Every company says it, but who really does it?In today’s market, your prospect and customer must

feel at a very deep level they are getting real value from you and your services.

How do you demonstrate value to a customer? Here are four overtly obvious ways to show your customer the value of your product so they may rightly justify the price you are charging for your service.

Create an outrageously blatant memorable experience. In this case, you may have to do what is absolutely unthinkable. Observe other industries and take a cue from them to create a wildly memorable experience. Th ese could include the hospitality industry, restaurant industry, entertainment industry and even the high-end technology industry. One of my coaching clients sends his customers on a seven day cruise for two when they buy one of his custom homes. Make a really big deal out of your customer being your customer. Be so happy and thankful to them that they have no other

option but to reciprocate the gratitude by telling everyone they know. Reward them for being your customer and they will reward you with referrals.

Establish your expertise way in advance of their purchase. People love to do business with “experts”. When you are considered an expert in your line of work, you will attract more discriminating customers…customers who wish to take advantage of your expertise and who are willing to pay your price during any economic environment. Accomplish this by writing articles, posting blogs, doing radio interviews or radio shows, contributing your services in the community, holding an offi ce of leadership in your trade association, winning awards, or teaching classes in your area of expertise. Th en feel free to promote your expertise to your customer base.

Th e devil is in the details. Be retentive with your customer. I always love an “anal-retentive” customer,

Some Real Value for Your Customers

See CUSTOMER, Page 7-A

10A Stats for Homes Sold Mar 2009

SABOR MLS HOUSING STATS


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The frozen housing market appears to be thawing as more buyers are finding the current historically low interest rates, stabilizing prices and tax credit refund incentives irresistible.

"Today's market offers an incredible opportunity with the unprecedented combination of a 40-year low in interest rates, prices returning to normal levels in many markets, and limited-time tax incentives," said NAHB Chairman Joe Robson.

The number of homes under contract increased in March, according to the National Association of Realtors' Pending Home Sales Index, which increased 3.2% from February to March.

Optimism about the housing market is on the rise as well. An April 16 Gallup Poll found that 71% of Americans said that now is a "good time" to buy a house, an 18 point increase from one year earlier and the highest level in four years.

Natasha Smith had been monitoring interest rates and home prices, but decided to take the plunge when the $8,000 first-time home buyer tax credit was enacted in February. The 25-year-old closed on a condominium in the Washington, D.C. suburb of Hyattsville, Md., in April.

"I wasn't in a rush as I continued to watch prices fall, but when I heard about the $8,000 tax credit, I knew it was the perfect time to buy," she said. "Combined with the low home prices

and interest rates, the tax credit was the extra push I needed to get out of the family home and into a home of my own."

For more information about the $8,000 first-time home buyer tax credit, which ends on Nov. 30, go to: www.federalhousingtaxcredit.com.

The above article has been provided to you compliments of NAHB and Nation’s Builder News.

Spring Price/Rate Thaw, Tax Credit Draw Home Buyers

Th e nation’s housing industry and the economy have just about seen the worst of the painful downturn that greatly intensifi ed since last September’s turmoil in the fi nancial markets, according to economists speaking on April 23 at NAHB’s Construction Forecast Conference.

And despite a continuation of rising unemployment well into next year, although at a slowing pace, housing in this year’s second half is expected to begin gradually leading the economy to higher ground, they said.

“Th ere’s a lot of skepticism out there. Th is is a very deep hole we’re in,” acknowledged NAHB Chief Economist David Crowe. But he said thereare several reasons to believe that “the housing recession is nearing an end and housing will return on a very slow basis.”

Crowe said that new single-family home sales probably reached their trough in the fi rst quarter of this year, hitting a record low of 320,000 on a seasonally adjusted annual basis, down from about 1.2 million at their peak.

Sales for 2009 are projected to total 364,000, he said, 24% below the 2008 level, and then climb 48% next year to 539,000.

Th e onset of a recovery in single-family housing starts should trail closely behind sales, with production hitting its cyclical low in the current business quarter at an annual rate of 330,000.

About 360,000 single-family homes are expected to be started this year, he said, a 42% decline from 2008, which will be followed by a 45% rise to 523,000 units in 2010.

Battered even more severely than single-family builders by the shrinking availability of acquisition, development and construction (AD&C) fi nancing, multifamily starts are not expected to show signs of recovery until next year, bottoming out in the third or fourth quarter at a seasonally adjusted annual rate of 110,000, he said.

According to NAHB’s forecast, multifamily production will total 130,000 units this year, which would be 55% below last year’s level, and slow 3% further in 2010, to a total of 126,000 units.

Crowe indicated that housing markets are now struggling in all parts of the country as the result of the deepening slump in the overall economy and job losses that have escalated to above the 600,000 level in recent months.

However, he said, prime conventional conforming home mortgage interest rates, which are now at a generational low of roughly 4.75% — along with low home prices and the $8,000 fi rst-time home buyer tax credit — have greatly improved housing aff ordability, generating a notable increase in prospective home buyer traffi c that

Housing, Economic Growth Heading to Higher Ground

See GROWTH, Page 8-A

A short sale can be a good alternative for homeowners who can no longer make their mortgage payments and hope to avoid foreclosure; however, navigating these long and oft en confusing transactions can be challenging for even the seasoned real estate professional.

Realtors® attending the Housing Opportunity Forum yesterday at the Realtors® Midyear Legislative Meetings & Trade Expo gained insight on how to better assist both buyers and sellers through short sale transactions.

“Realtors® add value to the real estate transaction and can help home buyers and sellers solve problems and eff ectively negotiate short sale transactions,” said National Association of Realtors® President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Th e new incentives as part of the Making Home Aff ordable Program that the federal government announced yesterday are an important step in streamlining the short sale process, and Realtors® stand ready to help.”

A short sale is a transaction in which the homeowner’s mortgage lender agrees to let the owner sell the house for less than is owed, and the bank forgives the borrower of the diff erence. Th e benefi t of a short sale is that the lender oft en receives a higher amount of the remaining loan balance than if the home went into foreclosure; short sales also help homeowners reduce the damage to their credit. Foreclosures are much more

expensive for lenders than short sales, and Realtors® are critical to the success of those transactions.

Forum panelists were Marcel Bryar of Fannie Mae; Rod Luckhart and David Knight of Wells Fargo; Realtor® Boyd Campbell from Lanham, Md.; and Michael and Stacy Spickes, America’s Home Rescue. Realtor® Bonnie Boyd, 2009 chair of NAR’s Housing Opportunity Forum, moderated the panel.

“Homeowners need Realtors®,” said Bryar, vice president and deputy general counsel, Fannie Mae. “Th ey need you to be honest with them, to provide them with a fair assessment of value, and to partner with them and champion them through the short sale process as their trusted adviser.”

One common short sale challenge is obtaining the accurate value assessment of short sale properties. Bryar said Fannie Mae has forged partnerships with local Realtor® associations and multiple listing services across the country to access the most current home price data and improve home value assessments. In addition, streamlining the short sale process will help increase the speed and success of short sale transactions, as would a greater eff ort to bring investors and processors to the table, he said.

Realtors® can help their clients take advantage of a variety of government programs designed to help keep homeowners in their homes, according

Realtors® Help Buyers, Sellers Navigate Short Sale Transactions

See NAVIGATE, Page 7-A


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clients with a larger network and strong national presence. “I did some research about it,” Myers said. “When another company comes along and is bigger and can offer more tools and opportunity then it is time to merge with that company. My small business fit into the Keller Williams model and I knew we were making the right decision.”

Craig OwenDavid Jonesa 9-year-old boutique real estate brokerage with has HeritageMyers was excited

about the opportunity to service her clients with a larger network and strong national presence. “I did some research about it,” Myers said. “When another company comes along and is bigger and can offer more tools and opportunity that is the time to merge my brokerage. It was just time.”

“We have many associates who work in the area, and we are excited to offer them and our clients a business center located in Alamo Heights,” says Craig Owen, KW’s Operating Principal. The Keller Williams real estate franchise is San Antonio’s largest, servicing San

Antonio and the Hill Country with 3 offices in San Antonio and branches in Fredericksburg, Boerne, Spring Branch, Schertz, New Braunfels.

The training-intensive, agent-centric model has attracted many of San Antonio’s top Realtors and a large client base. David Jones, General Manager for the Heritage office attributes the brokerage’s success to its clients, “Without our clients, we wouldn’t be the top-selling brokerage in San Antonio. They are the reason we strive for a standard of excellence in all that we do.”

Keller Williams Realty has also recently announced it is the 3rd largest real estate franchise in the country. Mark Willis, CEO of Keller Williams Realty International echoes KW’s commitment to world-class service, saying “We have a policy of getting into business with only the best in the industry. By maintaining our standards, we can provide Keller Williams Realty clients with the best real estate experience possible.” Alamo HeightsCraig Owen

PARTNERS from Page 1-A

Help is on the way for many homeowners who are facing foreclosure, thanks to new details under the Making Home Affordable Program announced today by the U.S. Treasury and the U.S. Department of Housing and Urban Development.

The Making Home Affordable Program is designed to help homeowners obtain modifications to their loan so they can afford to stay in their home. Where a modification is not possible, new incentives encourage the “quick private sale or voluntary transfer of property, which will save homeowners money and protect their financial future,” according to U.S. Treasury Secretary Timothy Geithner. The National Association of Realtors®

expects that a uniform process for handling short sales and financial incentives will facilitate this process. View a summary of the incentives and process (PDF)

“NAR is pleased that the government is stepping in to help prevent foreclosures by streamlining the short-sale and deeds-in-lieu process,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “NAR has been calling for uniform short sales procedures and other initiatives that will help today’s homeowners in challenging economy.”

Short sales occur when a bank agrees to let homeowners who have

fallen behind on their mortgage to sell their home for less than they owe on their mortgage. Visit www.treasury.gov for detailed information on the program changes.

“Many families are finding themselves with a mortgage that is higher than their current home value, and they are struggling,” said McMillan. “As Secretary Geithner noted, and as NAR has been advocating for many months, stemming the foreclosure crisis and stabilizing the housing market are critical to our economic recovery.”

“We have heard from Realtors® that the extensive delay in the short sale process had caused many buyers to go elsewhere and have left many would-be sellers with no option but

foreclosure. We are all pleased that the government has stepped in to help homeowners and those wishing to buy a home,” McMillan said.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Copyright National Association of REALTORS. Reprinted with permission.

Uniform Process for Short Sales Will Help Struggling Homeowners, Say Realtors®


AGENT SIGHTINGSAGENT SIGHTINGS

Left: Keller Williams enjoying pizza after a hard days work.

Above: Bill Millikin, Janis Morgan, Jerri Smallwood

and P.J. Humes of Keller Williams Legacy.

Above: Keller Williams Catch the Culture t-shirt.

Above: Kayla Broussard, Bruce Mays and Joe Sloan of Keller Williams I-10.

Above: Keller Williams "Giving where we live" t-shirt.

Above: Shery Walls, Jary Sours and Donna Eley of Keller Williams I-10.

Above: Keller Williams agents

from Heritage and I-10.

See more agents sightings onPage 4-B

Keller Williams Red Day


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because when I have to, I can “out-anal-retentive” them. It’s a game. You know more about your industry than your customer will ever know. The more detailed and specific you are with them, the more they feel you are an expert. They also receive the message that you are going to be equally retentive with their project or product. Once you have built unbreakable rapport, move to the details and nuances of where their money is going. Every detail has a price, hence value is established. For the record, you only have to be one notch more retentive than your customer for them to feel they are getting real value.

Deliver. Deliver. Deliver. My gosh, deliver what you say and when you say you will. NO…WAIT. Deliver in advance. Deliver more. Deliver better. Deliver beyond the expectations. Even delivering ten minutes early can exceed expectations. A simple phone call to double check, triple check, quadruple check on your customer demonstrates value. If you say you are going to provide a product in a certain manner, do one or two better. Then, make a big deal out of it with your customer by telling them how much you appreciate their business.

Bonus (to create more value for you, the reader)…Enthusiasm breeds enthusiasm. You have got to be so happy, so thankful, and so ecstatic about doing business with your customer that they sense how passionate you are about what you are doing for them. Don’t ever let them, or your staff, gripe, moan and whine about the economy, the cost of doing business, your headache, your dog, or anything else for that matter. Eternal optimism will foster feelings of value in your customer. Your enthusiasm will generate feelings of confidence in your customer as well. A confident customer is a customer who will spend money.

In these ways, you will distinguish you and your company as a special deal in your marketplace. Even the slightest advantage or the smallest amount of uniqueness will set you apart from the competition and create extraordinary value.

Paul Montelongo, is an international authority on sales motivation. He conducts corporate sales train-ing programs, delivers inspirational keynote addresses and offers retreats for sales and management teams worldwide. Get free weekly electronic tips and learn more about Paul and his resources for sales profes-sionals, at www.PaulMontelongo.com.

CUSTOMER from Page 3-A

apt to believe their homes were worth more than Realtors' recommended listing price 69 percent of the time. Some 35 percent had a price in mind that was 10 to 20 percent greater than the Realtor's recommendation, and 10 percent were convinced their home was worth 21 percent or more than the Realtor's recommended listing price.

Buyers, on the other hand, thought homes for sale were overpriced 63 percent of the time, Realtors reported. About 30 percent thought homes were overpriced by 10-20 percent. Only 17 percent thought homes were underpriced, while 19 percent of buyers saw homes as fairly priced, Realtors reported.

When it comes to settling on the actual listing price, sellers tended to get their way, with the listing price set within 10 percent of their expectations 51 percent of the time.

The result is that homes then end up selling for less than the listing price 84 percent of the time. Although the average discount from list is 5 to 10 percent 53 percent of the time, sellers got 11 percent to 20 percent less than they'd hoped for 27 percent of the time, Realtors estimated.

About one in five Realtors said foreclosures made up 31 percent or more of homes for sale in their area, although 37 percent said less than one in 10 homes for sale were foreclosures.

Most (55 percent) said the economic stimulus bill passed by Congress and signed into law by President Obama Feb. 17 has had no impact. While 34 percent thought the stimulus legislation had stabilized home prices, another 8 percent thought it had sent them downward.

Nevertheless, most Realtors (57 percent) gave Obama favorable ratings, with 31 percent saying they "somewhat" approved of his performance and 26 percent "strongly" approving. But 41 percent of those surveyed said they were not satisfied, with 17 percent "somewhat" disapproving and 24 percent "strongly" disapproving of the president's performance.

Copyright 2009 Inman News

PRICE BOTTOM from Page 1-A

to Rod Luckhart, national vice president of government and industry relations for Wells Fargo Home and Consumer Finance Group. Available programs include Hope for Homeowners, Hope Now, Homeowners Affordability and Stability Plan, and the Make Home Affordable Program.

NAR supports Realtors® with a wealth of short sale resources, as well. NAR and Wells Fargo developed the Realtor® Short Sale Guide, a primer for Realtors® and their clients on the short sales process. Realtors® looking for additional education on short sales can sign up for the Real Estate Buyer’s Agent Council’s one-day course, Short Sales and Foreclosures: What Buyers’ Representatives Need to Know. The course outlines the foreclosure process and offers advice on educating buyer-clients to prevent foreclosure, tips for getting involved in the foreclosure market, and guidelines for working with real estate owned properties.

REALTOR® magazine offers a free Webinar on short sales called Short Sales: Finding Income in a Tough Market. During the hour-long Webinar, short sale expert Scott Thompson of Mortgage Resolution Services helps participants learn the basics and best practices for handling short sales from both the listing and selling side. NAR also partnered with Freddie Mac on a Webinar presentation, Introduction to Short Sales for the Real Estate Professional.


NAVIGATE from Page 4-A


should begin translating into a pickup in sales.

Moving forward, the housing market should derive strength from pent-up demand and demographics, which hold the potential for strong household growth. Annual household formations are forecasted to average 1.532 million for the period of 2009 to 2013, compared to an average of 1.247 during 2004 to 2008. Providing “an extra push” will be the echo boom generation, the children of the post-World War II baby boom, the oldest of which are now in their late 20s, he said.

Following a 6.3% decline in real growth in the gross domestic product in the fourth quarter of 2008, the worst since the early 1980s, deterioration in this year’s fi rst quarter should be almost as bad, Crowe said, with a drop in GDP of about 5.2%. Th e current quarter should show that “some of the worst is past,” he said, with a decline in growth of perhaps something just above 1%, demonstrating that consumers are slowly coming back to life and paving the way for a return to positive territory in the following quarters.

Housing a Leading Indicator“It’s not going to be much of a

recovery at all, but some recovery is better than no recovery,” said Maury Harris, managing director and chief U.S. economist at UBS Investment Bank.

As a result of the massive fi scal stimulus package that is now making its

way through the economy, a gradually waning credit crunch and the nation’s household savings rate stabilizing at a higher level, Harris said he was projecting 2% positive GDP grown in this year’s third quarter, followed by 2.5% growth in the fourth quarter and 2.2% growth in 2010.

Harris said that the unemployment rate should peak at 9.3% in the fourth quarter of this year before subsiding gradually in 2010, but “you can get a turnaround in housing before employment improvement.” Unemployment typically continues to rise for a period of time aft er the economy returns to growth.

“Housing is a leading indicator,” he said. “Sales turn up before unemployment peaks….You don’t have to get a big share of the population enthusiastic [about buying a home] before there is a housing upturn.”

He added that all of the major housing price indexes are overstating the decline in the value of housing. Th e Case Shiller House Price Index, for example, “which gets all the attention,” now has prices on average down 28% from their peak and is likely to hit bottom at the end of the year showing a 33% erosion. Th e index, however, is “skewed to areas with a lot of foreclosures,” he said.

Sales transaction indexes aren’t providing an accurate picture of “what’s really happening to real estate wealth,” he said, because 45% of existing home sales currently are foreclosures that are not typical of the existing housing stock.

Harris forecasted 530,000 total

housing starts this year, followed by production of 720,000 units next year, but he said there was a risk that the AD&C credit crunch, particularly among smaller builders, could result in lower numbers if lending fails to suffi ciently ease.

Th e credit crunch won’t end overnight, he said, “but it is a question of degree and starts to be ameliorated.” UBS analysis of bank lending standards, based on data from the Federal Reserve’s Senior Loan Offi ce Opinion Survey, showed that the share of banks tightening standards on business and household loans started declining early this year, although tightening continued to be more pervasive than at any point in the last two recessions.

Harris added that he was in disagreement with those who forecast that further increases in household savings rates this year will prolong the recession. Th e savings rate climbed from roughly 0% in 2008 to under 5% now, he said, and “if it goes up to 10% to 11%, kiss the recovery goodbye this year.”

Although savings rose to that level in bad recessions 25 to 30 years ago, he said, “people already have saved more money” and savings will average 6% this year because low interest rates are not especially encouraging and, despite setbacks, Americans continue to have sizable amounts of wealth in their housing and fi nancial holdings.

A Transition to Better Times“We’ve been through a tough time.

It’s been exacerbated by the credit markets shutting down and turning the lights out,” said James Glassman, senior economist for JP Morgan Chase. But by this fall there will be general confi dence “that we’re on the road to recovery and the tide is turning.”

Working to stabilize the economy is the fi scal response from the federal government, which he called

“appropriate” and “bold,” along with eff orts by the Federal Reserve focused on promoting the fl ow of credit back into the credit markets.

Glassman said there is reason to be hopeful the economy is now moving into a transitional period because “it was blanketed by storms that are now passing.”

A doubling in oil prices between the summers of 2007 and 2008 shift ed $2.5 trillion from consumers to producers, slowing down the economy of every developed country by 1% to 2%, he said. Now, although “there is nothing good going on” for consumers, it looks like consumer spending was up in the fi rst quarter, he said, and that can be attributed to the recent collapse in oil prices, which represents a $300 billion annual benefi t to consumers.

Th e “debacle in the housing market” also appears to be passing, he said. Housing prices are no longer infl ated and have returned to their normal levels in relation to household income. Glassman added that he was skeptical that there will be much more downward correction in housing prices.

“Th e minute prices are within reach, people begin to think diff erently about housing,” he said. “As things become more aff ordable, people want to own.”

With credit beginning to return, some pent-up consumer demand is being released, he said.

Glassman said that current fi scal and monetary policies to stimulate the economy are not infl ationary at a time when joblessness is far higher than it should be and infl ation is too low.

He noted that it will take some time to reduce the existing slack in the economy, and “we need a lot of growth to claw our way back to full employment.”


GROWTH from Page 4-A

Smart growth, the impact of military base development, fl ood and natural disaster insurance, and widespread pine beetle infestation were just a few of the breadth of issues that Realtors® shared during the national town hall meeting at the Land Use, Property Rights and Environment Forum today. Th e forum was part of the weeklong Realtors® Midyear Legislative Meetings & Trade Expo here this week.

“Land use and environmental issues related to housing and development aff ect our global community,” said National Association of Realtors® President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Realtors® care about improving communities and engage public policymakers head-on to address

these challenges. Growth patterns, economic development and quality-of-life issues are inextricably linked to the success of communities and their residents.”

Th e environmental impact on aff ordable property insurance is top-of-mind for many Realtors® and their clients. Several forum participants reported that insurance companies in various states, including Florida, Louisiana and Minnesota, are imposing mandatory deductibles as a certain percentage of a home’s value. Th e Realtors® in attendance agreed that the availability and aff ordability of homeowners insurance aff ects communities across the country, not just residents in coastal regions or other areas susceptible to natural

Realtors® Explore Land Use Challenges, Opportunities

See CHALLENGES, Page 11-A

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As sales professionals, the best way for us to adjust to the new market realities is to return to basics. Unfortunately, the basics need to be applied in a known environment in order to achieve expected results and the environment in which we work sometimes changes faster than we can react.

Th at leaves us with one of two choices. Either we can hunker down and ride out the storm, or we can revise our business plan and plow ahead

I have chosen the second option and I suggest that you choose it, too.

Homes Are SellingRegardless of the situation in which

you fi nd yourself and the condition of your market, homes are being sold. NAHB Chief Economist David Crowe recently predicted that 364,000 new homes will be sold this year and, next year, another 539,000 new homes will be sold.

While those numbers are nothing like what we enjoyed during the boom years, we need to remember that companies around the country are going to build those homes — and that new homes salespeople are going to sell them.

Why can’t one of them be you?

What Prospective Buyers WantConsumers seeking new homes know

that it’s a buyers’ market and many still want all the bells and whistles. But, in today’s market, they don't believe they should pay for these extras.

Th e wise builder sees this and realizes

that, to deliver what buyers want, he has to give them value. Rather than give potential customers everything, he determines what will keep them from looking elsewhere by asking the following questions:• What items are important to

customers? • What items are they willing to give

up? • What items can he off er that will set

him apart from the competition?

Diff erentiating your product from the competition creates a niche and helps minimize competitive pressure.

Keep in mind, however, that the downward pressure on home prices has changed your competition. You probably now are competing against what were initially higher-priced homes that have been reduced to the point where they are now competitively priced with your homes.

Th is makes understanding your customer's wants and desires more important than ever.

Communicate With Your Customers

In order to understand what your customers want, you have to communicate with them. In the past, most builders relied on direct marketing, but that has become more expensive and many builders have dropped or trimmed their direct marketing.

What should not be dropped is a builder's Web site, so look for other

alternatives to drive traffi c to your Web site. E-mail programs ande builders association promotional programs and other cooperative marketing eff orts can all drive traffi c to your Web site at more modest costs.

Generate Your Own Traffi cProspecting has become a way of life

again. Customers are out there, but they are reluctant, even afraid, to get in the game. You need to contact them and make them aware of the advantages of new-home ownership.

Th e $8,000 federal tax credit available to fi rst-time home buyers is a great way to get your foot in the door. NAHB’s Web site, www.federalhousingtaxcredit.com, off ers a wealth of information to answer consumer questions about this tax credit.

Use this as an opportunity to get in front of religious groups, civic organizations, trade associations or social clubs to answer questions about the tax credit and how you can help them get it.

Another way to get the attention of prospective customers is to let your current home owners use your facilities to hold welcoming parties and other social gatherings that they would normally hold at their homes. Not only do they have more room for their events, their friends get to enjoy your facilities, which increases awareness of your community and company.

Marketing Relies on the Strength of Your Sales Team

Finally, we have to invest in our people.

It has always been the responsibility of the business owner to train his sales team, and now it is more important than ever. As the market has changed, most of us have not provided our salespeople with the tools they need to eff ectively operate in it.

While some salespeople can adjust to the new realities on their own, most will need help to get the proper skills to make the necessary changes.

To wrap up, adapting your marketing strategies can be done using these basic steps:• Adjust your off er to the needs of your

consumer. • Analyze your competition and adjust

to how it has changed. • Communicate with your customer,

but concentrate on fi nding the more effi cient alternatives.

• Generate your own traffi c and prospects because people are afraid to make a decision.

• Train your people to sell in the current market.

We became complacent about the basics while working the go-go market when everything was booming. Now we are paying the price. We can sit back and ride out the tough market, or we can return to the basics and get to work.


Adapt Your Marketing Strategies to the New Reality


May Housing Stats in the

July 6th Issue

SABOR MLS Housing Stats: Sold Apr 2009

www.theshowcaseusa.comView the virtual issue online at

NAR Report Criteria Class Column 1: Single Residential Type Column 1: Single Family Detached,Garden/Patio Home/Detchd, Manufactured, Modular Home Class Column 2: Condominium/Townhome TypeColumn 2: Low-Rise (1-3 Stories), Mid-Rise (4-7 Stories), High-Rise (8+ Stories), Townhome Style Date: 04/01/2009-04/30/2009

Price CategoryLess than $29,999$30,000 to $39,999$40,000 to $49,999$50,000 to $59,999$60,000 to $69,999$70,000 to $79,999$80,000 to $89,999$90,000 to $99,999

$100,000 to $119,999$120,000 to $139,999$140,000 to $159,999$160,000 to $179,999$180,000 to $199,999$200,000 to $249,999$250,000 to $299,999$300,000 to $349,999$350,000 to $399,999$400,000 to $449,999$450,000 to $499,999$500,000 to $549,999$550,000 to $599,999$600,000 to $649,999$650,000 to $699,999$700,000 to $749,999$750,000 to $799,999$800,000 to $849,999$850,000 to $899,999$900,000 to $949,999$950,000 to $999,999

$1,000,000 to $1,249,999$1,250,000 to $1,499,999$1,500,000 to $1,749,999$1,750,000 to $1,999,999$2,000,000 to $2,999,999

$3,000,000 and over

Total:

Average Price:

Sold RE UnitsNumber of Bedrooms

2 or less 3 4 or more Total16 19 4 393 17 8 284 18 5 277 18 7 328 26 4 387 39 5 517 45 13 655 32 8 459 96 27 1329 125 46 1802 119 54 1753 68 52 1231 41 51 938 46 77 1314 17 65 862 22 42 660 4 22 261 3 19 230 4 8 121 1 6 80 2 2 40 0 3 30 0 4 40 0 4 40 1 4 50 0 1 10 1 2 30 0 2 20 0 1 10 0 5 50 0 1 10 0 2 20 0 0 00 0 0 00 0 0 0

2 or less 3 4 or more Total97 764 554 1415

109757 141306 248947 181286

Sold CO UnitsNumber of Bedrooms

2 or less 3 4 or more Total1 0 0 13 0 0 33 0 0 30 0 0 01 0 0 10 0 0 02 0 0 21 0 0 14 2 0 61 2 0 30 0 0 01 1 0 20 0 0 00 0 0 00 0 0 00 0 0 01 0 0 10 1 0 10 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 00 0 0 0

2 or less 3 4 or more Total18 6 0 24

95001 179999 0 116251

Active ListingsEnd of Month

RE CO57 0103 9163 12235 22296 31366 25369 54388 25843 501079 69938 27965 29805 191331 251063 25627 12561 23291 6332 12196 3211 15110 4126 575 1105 240 068 134 052 272 190 342 039 144 025 0

RE CO12141 513280635 199116

Sales PendingEnd of Month

RE CO6 016 016 021 224 325 242 044 498 2123 1124 290 266 0103 585 147 035 113 011 05 010 04 03 01 00 01 01 00 02 01 00 00 00 00 00 0

RE CO1017 25

189683145017

Time on Market of Units Sold

Days on Market All Units0-30 32531-60 32561-90 21691-120 138120+ 435

Type of Financing of Units Sold

Type of Financing All Units1SLLR 92SLLR 0ASSUM 0CARRY 2CASH 236

CNTRC 3CONV 499FHA 466

OTHER 13VA 210

WRAP 1


WEICHERT, REALTORS® – Lisa Kaye & Associates16640 San Pedro Avenue • San Antonio, TX 78232

210-293-4663 • www.weichert.com

In a word: support. From our industry-best training to our

award-winning Internet strategy to terrific sales tools like

our unbeatable customized listing presentation, Weichert is

committed to your success. Just ask any of the nearly 18,000

Weichert Sales Associates in more than 500 company-owned

and franchised sales offices in key markets throughout the U.S.

Why do so many real estate agents switch to Weichert®?

(Hint: Yellow goes very nicely with green.)

Each WEICHERT® franchised office is independently owned and operated.

Home of Unlimited Opportunity.Lisa Kaye & Associates

the City of San Antonio, Bexar County, CPS Energy, San Antonio Water System, Via Metropolitan Transit, AACOG, the Greater Bexar County Council of Cities, and Solar San Antonio.

The awards are part of the NAHB National Green Building Program, NAHBGreen, which includes education, advocacy, marketing and certification services for green homes. Since NAHBGreen debuted in February 2008, almost 150 homes have been certified across the country. Project entries must be scored to the NAHB Green rating system to facilitate judging.

“Receiving this award is a tremendous honor for San Antonio, as Build San Antonio Green has been recognized among all the green building programs across the country,” said Anita Ledbetter, Executive Director of Build San Antonio Green™. “The national recognition is very encouraging, as we are working together with home builders and our partners toward making San Antonio a greener and more sustainable community.”

"This award is a clear indicator that Build San Antonio Green™ has become a leader in this field," said Mayor Phil Hardberger. "Build San Antonio Green™ was a consultant to the city as we developed a green building code, and I believe it will continue to be a strong partner as we advance the goals of Mission Verde, the city's sustainability plan for the future."

“We are pleased to be a part of the success of the Build San Antonio Green program. Through this tool we will forever change the landscape and future of San Antonio and our children will benefit from the good stewardship that this program represents,” said John Saenz, Senior Vice President of Retail Energy at CPS Energy.

“I am extremely proud of Build San Antonio Green™. The program has really advanced under the direction of Anita Ledbetter, and the Greater San Antonio Builders Association is proud to be a partner of the Build San Antonio Green™ program. Together we can continue to make it the best in the nation,” Becky Oliver Executive Vice President of the Greater San Antonio Builders Association.

County Commissioner Tommy Adkisson, Chairman of Build San Antonio Green™ said "The great value of Build San Antonio Green is to jumpstart the transition into sustainability for our community in partnership with others across the nation. And, its good work couldn’t come at a more opportune time when our economy needs green jobs and lower energy bills for the tidal wave of retirees seeking to balance their household budgets."

The awards were presented at a gala dinner during the NAHB National Green Building Conference. The 11th annual conference is set for May 8-10 in Dallas.

Build San Antonio Green™ was developed specifically for the South Texas climate, and is the only green building program that incorporates CPS Energy and SAWS rebates, the SAWS WaterSense and Landscape List, the Net Metering Ordinance, the San Antonio Tree Protection Ordinance, and the Unified Development Code. The program features a variety of options for builders wishing to build green, in both new construction and green retrofit projects.

To date, the program has certified 252 homes as “built green.” Because of the increased energy efficiency of these certified homes, they are saving over 1.5 million kilowatt-hours of energy every year, enough to run 62 homes built to code for one year. In addition, these home are responsible for reducing harmful emissions, preventing of 1.3 million pounds of CO2 emissions every year, the equivalent of removing 113 cars from the road for one year.

BUILD GREEN from Page 1-A

View the virtual issue online at www.theshowcaseusa.com

disasters.Catastrophic natural disasters have wide-ranging

effects that go beyond those immediately affected. Recent estimates are that each taxpaying family in the United States is paying $1,000 for disaster relief from the 2005 hurricanes. When insurance is difficult to get or prohibitively expensive, homes become less affordable and the local real estate market suffers.

Stephanie King-Chahine of the Realtor® Association of Greater Miami and the Beaches mentioned the delicate balance and challenges inherent in land use and development issues between Smart Growth initiatives, NIMBY-ism (“not in my backyard”), and outer ring development. “When you have Smart Growth initiatives and infill development, there are people in the community that don’t want that development in their backyard,” King-Chahine said. “When development then moves to the outer suburbs, people complain about urban sprawl.”

In response, Land Use, Property Rights and Environment Forum Chair Terence Sullivan, a Realtor® from Spokane, Wash., explained that

NAR’s Land Use Initiative is a valuable resource for NAR members. The program helps state and local Realtor® associations plan public policy advocacy related to land use issues. Upon request, NAR provides expert analysis of the legal, planning, economic, and environmental issues surrounding legislative and regulatory land use proposals.

Greg Wright, president of the Washington Association of Realtors®, emphasized the importance of fighting the “anti-housing” organizations. “As an association, we must continue to bring some intellectual honesty to this issue. Realtors® must continue to work with coalition partners to ensure access to homeownership and develop solutions to some of the common problems we all face,” said Wright. “More than NIMBY-ism, we must deal with the BANANA problem – the perspective that favors building absolutely nothing anywhere near anything.”


CHALLENGES from Page 8-A

www.fieldstone-homes.com 1-877-SA-BIG-HOMES 1-877-722-4446

* Flyer must be attached to Purchase Agreementat time of contract to be valid.

* Bonuses paid after funding.

* Homes must close in 14 days and use a Preferred Lender in order for bonuses to be valid. * No cancels, transfers or rewrites.

* homes 4/20 thru 4/30/09.Valid on the sale of any above listed inventory * This program supersedes any previous

inventory home bonuses.* Subject to change or cancellation without prior notice.

* All homes subject to prior sale.

Must use a Preferred Lender in order to be valid. Area and dimensions are by architectural design and will vary by actual construction. Plans, specifications and pricing subject to change without notice. All homes subject to prior sale. Pricing and bonus on select inventory homes available for Purchase Agreements from 4/20/09 thru 4/30/09. 4/22/09

$5,000$5,000Sold from the listing below April 20 - 30, 2009 . Must close in 14 days

5407 Moreville Farm

Community Address Sq.Ft. Description PriceMLS742008

742002766508

774889757914763675

744422772605

727411

765104Carmona Hills (210) 623-1274 8431 Mescal Pass 2220 2-Story / 4 / 2.5 / 18 ' x 20' Garage $146,360Carmona Hills 8423 Miners Point 1395 2-Story / 3 / 2 / 11' x 20' Garage $117,040Canterbury Farms (210) 431-7789 5407 Moreville Farm 1550 2-Story / 3 / 2.5 / 11' x 20' Garage $117,650Northeast Crossing (210) 656-5701 7235 Hibiscus Falls 3508 2-Story / 4 / 3.5 / 18' x 20' Garage $174,840Northwest Crossing (830) 609-6128 613 Northgap Drive 3507 2-Story / 3 / 2.5 / 18' x 20' Garage $179,116Northwest Crossing 641 Crosspoint Drive 1242 2-Story / 3 / 2.5 / 11' x 20' Garage $120,480Northwest Crossing 639 Northern Lights Drive 2406 2-Story / 3 / 2.5 / 11' x 20' Garage $143,070Ida Creek (210) 648-5705 4603 River Fork 1395 2-Story / 3 / 1.5 / 11' x 20' Garage $117,700Southton Ranch (210) 633-2199 4430 Stetson Run 2372 2-Story / 3 / 2.5 / 11' x 20' Garage $139,860Gatewood (210) 566-6222 516 Hinge Falls 1928 2-Story / 3 / 2 / 18' x 20' Garage $134,720Gatewood 524 Hinge Falls 1509 2-Story / 3 / 2.5 / 18' x 20' Garage $141,490Chestnut Springs (210) 670-9065 9111 Beech Grove 2349 2-Story / 3 / 2.5 / 18' x 20' Garage $156,690Chestnut Springs 214 Spruce Mist 1658 1-Story / 3 / 2 / 18' x 20' Garage $136,960Chestnut Springs 9102 Beech Grove 3680 2-Story / 3 / 2.5 / 18' x 20' Garage $197,320

742815

774879

765114755574

7235 Hibiscus Falls

REALTOR® BONUS

CURRENT STATUS STREET ADDRESS MLS # LIST $ SQ. FT. BR BA LIV DIN GA FP STORIE

SELEV LOT SIZE COMPLETE

Alamo Ranch Marquis Available 5823 Culberson Mill $340,971 3530 5 4 3 2 3 1 2 Q 67 x 140 October

Alamo Ranch Patriot Available 12106 Karnes Way $159,118 1414 3 2 1 1 2 0 1 K 45 X 120 Now

Alamo Ranch Patriot Available 12111 Karnes Way $196,211 2484 4 2.5 2 2 2 0 2 J 45 X 120 Now

Alamo Ranch Patriot Available 12118 Karnes Way $179,783 1716 3 2 1 1 2 0 1 C 45 X 120 Now

Alamo Ranch Patriot Sold 12123 Karnes Way $183,321 2087 3 2.5 2 2 2 0 2 B 45 X 120 Now

Alamo Ranch Patriot Available 12126 Karnes Way 761240 $206,384 2701 4 2.5 2 2 2 0 2 C 45 X 120 Now

Alamo Ranch Patriot Available 12131 Karnes Way $182,552 1889 3 $3 2 2 2 0 2 B 45 X 120 Now

Alamo Ranch Patriot Available 12138 Karnes Way $191,055 2484 4 2.5 2 2 2 0 2 J 45 X 120 Now

Alamo Ranch Patriot Available 12143 Karnes Way $178,990 1889 3 2.5 2 2 2 0 2 B 45 X 120 Now

Alamo Ranch Patriot Available 12146 Karnes Way $175,991 1584 3 $2 1 1 2 0 1 B 45 X 120 Now

Alamo Ranch Patriot Available 12166 Karnes Way $178,407 1661 3 2 1 2 2 0 1 B 45 X 120 Now

Alamo Ranch Patriot Available 12207 Harris Hawk 713522 $159,900 1889 3 2.5 2 2 2 0 2 B 45 X 120 Now

Alamo Ranch Patriot Available 12210 Medina Mill $185,479 1889 3 2.5 2 2 2 0 2 B 45 X 120 Now

Alamo Ranch Patriot Available 12214 Medina Mill $190,518 2152 3 2.5 2 2 2 0 2 C 45 X 120 Now

Alamo Ranch Prem. Plus Available 12314 Corsicana Mill $346,688 3528 4 4 3 2 3 1 2 B 67 x 140 Now

Alamo Ranch Prem. Plus Available 12410 Panola Way $293,413 2795 4 3.5 2 2 3 0 2 C 67 x 150 Now

Alamo Ranch Prem. Plus Available 12419 Panola Way $293,163 3006 4 3.5 3 2 3 0 2 C 67 x 140 Now

Alamo Ranch Prem. Plus Available 12431 Panola Way $277,314 3025 4 3.5 2 2 3 1 2 F 67 x 140 January

Alamo Ranch Premier Available 12411 Painted Daisy 721828 $264,023 3143 4 3.5 2 2 2 0 2 C 55 x 120 Now

Alamo Ranch Premier Available 5707 Lasalle Way $215,247 2135 3 2 1 2 2 0 1 C 55 X 130 Jan

Alamo Ranch Premier Available 5715 Lasalle Way $252,703 2795 4 3.5 2 2 2 0 2 C 55 X 130 Jan

Alamo Ranch Premier Available 5839 Palmetto Way 757154 $261,716 3224 4 3.5 2 2 2 0 2 B 55 X 130 Now

Amhurst Americana Available 1027 Daffodil Way $160,907 2431 4 2.5 2 2 2 0 2 B 50 x 120 April

Amhurst Americana Sold 11731 Wayward Daisy $141,278 1573 3 2 1 1 2 0 1 C 50 x 120 February

Amhurst Americana Available 11734 Valley Garden $132,426 1414 3 2 1 1 2 0 1 B 50 x 120 April

Amhurst Americana Sold 11735 Wayward Daisy $145,282 1955 3 2.5 2 2 2 0 2 C 50 x 120 February

Amhurst Americana Available 11738 Wayward Daisy $140,805 1573 3 2 1 1 2 0 1 C 50 x 120 Aprily y $ , p

Amhurst Americana Available 11739 Wayward Daisy $143,722 1661 3 2 1 2 2 0 1 B 50 x 120 February

Amhurst Americana Available 11743 Wayward Daisy $139,177 1573 3 2 1 1 2 0 1 B 50 x 120 April

Amhurst Americana Available 11751 Wayward Daisy $131,967 1414 3 2 1 1 2 0 1 A 50 x 120 April

Amhurst Americana Available 11755 Wayward Daisy $159,317 2431 4 2.5 2 2 2 0 2 C 50 x 120 April

Amhurst Patriot Available 614 Campion Red $181,984 2345 4 2.5 2 2 2 0 2 B 50 x 120 June

Amhurst Patriot Available 730 Celosia $171,832 1889 3 2.5 2 2 2 0 2 A 50 x 120 February

Amhurst Patriot Available 823 Celosia $199,361 2667 4 2.5 2 2 2 0 2 A 50 x 120 February

Amhurst Premier Available 1006 Orchid Grove $254,877 3223 5 3.5 2 2 2 0 2 B 55 x 120 NOW

Amhurst Premier Available 1031 Climbing Vine $245,129 2433 3 2.5 1 2 2 1 1 C Corner NOW

Amhurst Premier Available 11615 Lemonmint Pky. $178,930 1624 3 2 1 1 2 0 1 C 55 x 120 NOW

CURRENT STATUS STREET ADDRESS MLS # LIST $ SQ. FT. BR BA LIV DIN GA FP STORIE

SELEV LOT SIZE COMPLETE

Amhurst Premier Available 326 Fire Wheel $188,639 1889 3 2.5 2 2 2 0 2 C Private Now

Astoria Place - Texana Available 406 Diana $162,988 1668 3 2 2 2 2 0 1 C 50 x 110 October

Astoria Place - Texana Sold 422 Reba $177,181 2431 4 2.5 2 2 2 0 2 C 45 x 110 September

Astoria Place - Texana Available 503 Dolly $169,383 2431 4 2.5 2 1 2 0 2 A 50 x 120 September

Bella Sera Available 12202 Abbey Park $178,985 1870 3 2 1 2 2 0 2 C 35 x 110

Bella Sera Available 12206 Abbey Park $187,581 1998 2 2.5 3 2 2 0 2 C 35 x 110 March

Bella Sera Available 12208 Abbey Park $175,087 1692 2 2.5 1 1 2 0 2 B 35 x 110

Bella Sera Available 12210 Abbey Park $189,183 2057 3 2.5 1 2 2 0 2 C 35 x 110

Bella Sera Available 12228 Abbey Park $187,581 1998 3 2 3 2 2 0 2 C 35 x 110 January

Bella Sera Available 12230 Abbey Park $175,087 1692 2 2.5 1 1 2 0 2 C 35 x 110 January

Bella Sera Available 12302 Abbey Park $184,363 1870 3 2 3 2 2 0 2 B 35 x 110 January

Bella Sera Available 12306 Abbey Park $191,735 1998 3 2 3 2 2 0 2 A 35 x 110 January


730365 $182 123Bella Sera Available 12311 Abbey Garden 730365 $182,123 1765 2 2.5 2 1 2 0 2 B 35 x 110 January


Bella Sera Available 12315 Abbey Garden $181,852 1838 2 2 1 1 2 0 2 C 35 x 110 January

Bella Sera Available 6921 Abbey Falls $193,135 1858 3 2.5 2 1 2 0 2 C 35 x 110 January

Bella Sera Available 6924 Abbey Falls 741043 $186,694 1870 3 2 1 2 2 0 2 A 35 x 110 January

Bella Sera Available 6926 Abbey Falls 741047 $187,985 1838 2 2 1 2 2 0 2 B 35 x 110 January

Bella Sera Available 6927 Abbey Falls $199,186 2057 3 2.5 1 1 2 0 2 C 35 x 110 Now


Bella Sera Available 6930 Abbey Falls $185,220 1850 3 2 1 1 2 0 2 B 35 x 110 January

Bella Sera Available 6931 Abbey Falls $201,049 2057 3 2.5 1 1 2 0 2 C 35 x 110 Now


Belmont Park Patriot Available 111 American Flag $222,790 2484 4 3.5 2 2 2 0 2 J 50 x 120

Belmont Park Patriot Available 2601 War Admiral $195,684 2152 3 2.5 1 2 2 0 2 B 50 x 120 January

Belmont Park Patriot Sold 2604 War Admiral $195,562 2152 3 2.5 1 2 2 0 2 C 50 x 120 January

Belmont Park Patriot Available 2609 War Admiral $184,009 1880 3 2.5 1 1 2 0 2 B 50 x 120 March

Belmont Park Patriot Available 2633 War Admiral $220,441 2701 4 2.5 2 2 2 0 2 J 50 x 120 april

Belmont Park Patriot Available 2645 War Admiral $182,127 1584 3 2 1 1 2 0 1 J 50 x 120 april

Belmont Park Patriot Available 2701 War Admiral $189,975 1668 3 2 2 2 2 0 1 B 50 x 120 November

Belmont Park Patriot Available 2709 War Admiral $171,861 1414 3 2 1 1 2 0 1 J 50 x 120 November$ ,

Belmont Park Patriot Available 2720 War Admiral $217,805 2701 4 2.5 2 2 2 0 2 J 50 x 120 april

Belmont Park Patriot Available 529 Celtic Ash $215,424 2701 4 2.5 2 2 2 0 2 B 50 x 120 april

Belmont Park Patriot Available 548 Celtic Ash $209,849 2472 5 3.5 1 1 2 0 2 C 50 x 120 February

Bentwood Ranch Premier Available 310 Loch Lomond Dr $232,651 2287 3 2 2 2 2 0 1 D 55 x 125

Bentwood Ranch Premier Available 314 Loch Lomond Dr $246,690 3025 5 3 3 2 2 1 2 D 55 x 125 January

Bentwood Ranch Premier Available 406 Loch Lomond Dr 743184 $246,992 3025 5 3.5 2 2 2 1 2 D 55 x 125 September

Bentwood Ranch Premier Sold 418 Loch Lomond Dr $204,989 1897 3 2 1 2 2 0 1 C 55 x 125 January

Bentwood Ranch Premier Available 325 Sorenstam Way $235,165 3223 C 55 x 125 Feburary

Bentwood Ranch Premier Plu Available 805 Armour Drive $305,092 3223 5 3.5 2 2 3 1 2 D 67 x 130 January

Bentwood Ranch Premier Plu Available 918 Armour Drive $299,594 3324 5 3 3 2 3 1 2 C 67 x 130 January

1604

281

35

410

Bulv

erde

Rd.Evans

Hardy Oak

WildernessOak

Heights

Rogers Ranch

N

10 Blanco

Huebner

Stone OakPkwy.

281

14

3

2

5

Borgfeld

Bulverde Rd.

6

Cibolo CanyonsBlvd.

2009 Sitterle Homes, Printed 4/15/09. Plans, prices, availability and specifications are subject to change without notice.

1. The Gardens on Point Bluff (Rogers Ranch) - from the $350’s - (210) 497-00332. The Gardens of Windcrest (Crestway near Midcrown) - from the $190’s -

(210) 657-43003. Heights at Stone Oak: Majestic Oaks - from the $190’s - (210) 494-33064. Campanas at Cibolo Canyons - from the $350’s - (210) 497-65005. Heights at Stone Oak: Stately Oaks - from the $250’s - (210) 481-65656. Prospect Creek at Kinder Ranch - Borgfeld and Bulverde - from the $280’s -

Metro (830) 980-8789

sitterlehomes.comLocal. Legendary. Lasting.

Garden Homes Bed/Bath Stories SF Stage Price NotesThe Gardens on Point Bluff (Rogers Ranch) - from the $350’s - (210) 497-0033 - Jerrell Davidson, Mike Higgins18615 Castellani 2/2.5 Baths/Study1.0 2763 Ready for Move-In $424,83918727 Corsini Drive 3/3 1.0 2800 April 2009 $468,90018634 Castellani 3/3 1.0 2852 April 2009 $489,9003239 Medaris Lane 3/3.5 1.5 3631 April 2009 $499,900

Majestic Oaks (Heights at Stone Oak) - from the $190’s - (210) 494-3306 - Rebecca Hall23623 Last Run 2/2 plus Study 1.0 1637 Ready for Move-In $243,989334 Mirror Lake 3/2 1.0 1727 Ready for Move-In $246,900

The Gardens of Windcrest (Crestway near Midcrown) - from the $190’s - (210) 657-4300 - Carole Anderson410 Flippin Estates 3/2 1.0 1915 Ready for Move-In $215,900

Campanas at Cibolo Canyons- from the $350’s - (210) 497-6500 - Jean Prudeaux, Flossie Taylor, Larry Allen22710 Colibries 3/3 1.0 3801 Model Home $813,713 For sale to investor for lease-back22715 Colibries 2/2.5 1.0 2501 Model Home $529,586 For sale to investor for lease-back22719 Colibries 2/2 + 2 Half Baths 1.5 3390 Model Home $644,135 For sale to investor for lease-back22723 Colibries 3/2.5 1.0 2728 Model Home $549,970 For sale to investor for lease-back22410 Viajes 4/3.5 1.5 3304 Ready for Move-In $543,42422606 Viajes 3/2.5 1.0 2725 August 2009 $457,923

Traditional Single-Family HomesStately Oaks (Heights at Stone Oak) - from the $250’s - (210) 481-6565 - Rebecca Hall230 Tranquil Oak 4/3.5 2.0 3219 Ready for Move-In $359,900234 Tranquil Oak 4/3 2.0 2955 June 2009 $367,445

Prospect Creek at Kinder Ranch - from the $280’s - (830) 980-8789 - Rick Grayson, Max Groff, Eddie SillSitterle Select Homes under development

TM

Visit Prospect Creek at Kinder Ranch!Single-family homes near Borgfeld and Bulverde Roads

Plan Sq. Ft. Bed/Bath/Garage Price Avail.

Boerne Trails at Herff Ranch - (830) 816-5071From San Antonio take I-10 west, exit US Bus 87 (#542) and head north. Turn right on Hwy 46 east for approx. 2 mi. past Herff Rd. Turn right on Herff Ranch Blvd., right on Lasso Falls and right on Lone Star to the sales center.245 Mustang Run • MLS #755116 The Dodge City 2712 4/2.5/2 • 2-story $269,301 NOW!136 Saddle Horn • MLS #746369 The San Juan 2210 4/2.5/2 • 2-story $221,915 NOW!117 Cactus Pear • MLS #698795 The Grant 3903 5/3/2 • 2-story $389,998 NOW!

CiboloSpring Tree - (210) 659-0105From Interstate 35 North, exit Weiderstein Road, turn right and go approx. 1.3 mi., to the community on the right.116 Springtree Cliff Twain 2070 3/2/2 • 1-story $197,795 NOW!

Live OakAuburn Hills at Woodcrest - (210) 599-0783Take I-35 North to O’Conner Rd. exit and turn right to community on left.7207 Avery Florentine 2585 3/2.5/2 • 2-story $197,795 NOW!6767 Wayman Ridge Florentine 2585 3/2.5/2 • 2-story $206,575 NOW!

San Antonio - North CentralFox Grove - (210) 497-3678 Take SL 1604 East to Bulverde Rd., turn left at light. Go approx. 3.2 mi. to Evans Rd., turn right at stoplight to community on right.20935 Coral Spur • MLS #708815 Chambord 2576 3/2/2 • 1-story $202,089 April

Quarry at Iron Mountain - (210) 495-5312 Take Hwy. 281 North to Sonterra Blvd. exit. Head west approx. .5 mi. to Hardy Oak and turn right. Community entrance on right.1203 Ashbury Bay • MLS #761186 The British 3842 6/3/3 • 2-story $388,962 NOW!

Saddle Mountain - (210) 497-1577From Hwy 281, head north past State Loop 1604. Turn left on Evans Rd to the community entrance, approx 1.5 miles on the right, directly across from Bush Middle School.1423 Saddle Blanket The Overland 2787 4/3/2 • 2-story $264,334 NOW!1435 Osnats Point • MLS #699023 The Reatta 2720 4/2.5/2 • 2-story $263,737 NOW!1406 Saddle Blanket The Dodge City 2665 4/2.5/2 • 2-story $249,587 NOW!1418 Saddle Blanket • MLS #753688 The Goodnight-Loving 2124 3/2/2 • 1-story $211,486 NOW!

Woods of Alon - (210) 479-5993From Loop 410 take IH-10 West. Exit Wurzbach and take a right. Go approx. 4 mi. to NW Military Hwy. Turn right and community entrance is .25 mi. down on the right.2903 Zurich • MLS #758459 The Overland 2787 4/3/2 • 2-story $337,979 NOW!2919 Zurich • MLS #749084 The Lone Star 2018 3/2/2 • 1-story $296,148 NOW!

San Antonio - Northwest Cobblestone - (210) 688-0145 From Loop 1604 West, exit Culebra and turn right outside loop approx. 3 mi . to community entrance on the left.13122 Joseph Phelps The Lone Star 2018 3/2/2 • 1-story $194,325 NOW!

Enclave at Lakeside - (210) 645-4463 From Loop 410 West, exit Hwy. 151 and continue on access road of Hwy. 151. Turn left on Ingram Rd. and left on Lakeside Pkwy. to community on right.626 Scarlet Ibis The Indian Paintbrush 1758 4/2.5/1 • 2-story $136,684 NOW!635 Scarlet Ibis The Bluebonnet 2312 5/3/2 • 2-story $160,299 NOW!

Sundance Trails and Sundance Ridge - (210) 679-7243Take SL 1604 West. At Potranco Rd. turn right and follow approx. 3.2 mi. to the community entrance on left. 1314 Sun Garden • MLS #714894 Palladio 1975 3/2/2 • 1-story $196,645 NOW!1102 Sundance Hunt • MLS #682659 D-2955 2955 5/3.5/2 • 2-story $227,142 NOW!1302 Sundance Fall • MLS #758468 D-1639 1639 3/2/2 • 1-story $163,567 NOW! 1206 Sunset Lake • MLS #762657 Alberti 2955 4/2.5/2 • 2-story $196,645 NOW!13302 Solar Crest • MLS #758671 D-1639 1639 4/2/2 • 1-story $164,681 NOW!

Homes Ready for Quick-Move-In!

©2009 KB Home (KBH). All Rights Reserved. Prices/terms/plans subject to change, prior sale, lot premiums, predetermined options. Floorplans, options, elevations, views vary by community/lot location; view preservation not guaranteed. Homes subject to prior sale. Photos show upgraded landscaping options and may not represent communities’ lowest priced homes. Financing available through Countrywide KB Home Loans; buyer may fi nance via any qualifi ed lender. Square footages are approximate. See Agent for details. The NHQ Certifi cation is not a representation, warranty, or guarantee by the NAHB Research Center of contractor performance. Sales center hours: 10 AM - 7 PM. KB Home - 4800 Fredericksburg Road, San Antonio, Texas 78229. 4/17/09

• KB Home has been recognized as the “World’s Most Admired Homebuilder” by Fortune Magazine in 2009.

• All KB homes are ENERGY STAR qualifi ed.

• KB Home is the only national builder to receive the prestigious National Housing Quality (NHQ) Certifi cation.

• KB Home San Antonio has a dedicated Broker/REALTOR Liaison to make selling a KB home a smooth and

positive experience for you.DID

YO

U

KNO

W?

Office: 210-764-1710Fax: 210-764-1712

1414 Bitters Road #14

Due to changes and improvements resulting from continuing research and development programs, we reserve the right to alter design or specification without notice or obligation. All illustrations are the artist’s conception. This plan is the property of Greenboro Homes. All rights reserved; including the right of reproduction in whole, or in part, without the consent of Greenboro Homes. Revised July 28, 2008.

www.greenborohomes-sa.com

Villa Mirasol 3,079 3 - 3.5 $478,000

Villa Serano 3,391 4 - 3 $493,000

Villa Buena 2,507 3 - 2.5 $428,000

Villa Carmen 2,574 3 - 3 $438,000

Villa Lorenzo 2,667 3 - 3 $463,000

Plan Name Square Feet Bed - Bath Exteriors A or B

Single story Villa with a gallery hall, spacious great room, outdoor living area, with a study/guest room.

Luxurious living while combining the benefits of low maintenance, open floor plans, a kitchen perfect for entertaining and a fully maintained landscape. These beautiful Villas are set within a private and gated enclave. Discover the Villa difference today.

Single story Villa with an outdoor living area, spacious great room, formal dining, room and a study/guest room.

2 story Villa with the master suite down, a spacious great room, outdoor living area, formal dining room, game room with an optional 4th bedroom loft on second floor.

Furnished ModelVilla Carmen2,574 Square Feet

2 story Villa with master suite down, a spacious great room, loft, beautiful courtyard, formal dining room with a study/guest room on the lower floor.

2 story Villa with the master suite down, 2nd bedroom or flex space down, a spacious great room, outdoor living area, formal dining room. Game room and 3rd bedroom upper floor.

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Section B June 1, 2009

Agent SightingsPT 50 Early Qualifi ers

Page 4-B Page 2-B

Eye on the EconomyNew Home Supply-Demand

Balance Improving

www.theshowcaseusa.comView the virtual issue online at

It is all over the Internet news. A court ruled that an "admin fee" that real estate brokers sometimes charge buyers or sellers may in some cases be a "junk fee."

"In a decision late last month that is sending shudders through the realty brokerage industry, U.S. District Judge Virginia Emerson Hopkins in Birmingham, Ala., ruled that when a realty fi rm charges clients an 'admin' fee, for which no specifi c settlement services are performed, the fee violates federal law," Washington Post columnist

Kenneth R. Harney reported.Here in Minnesota we have to call the

fee a "broker commission." Th e fee ranges from $200 to $500; the buyer or seller is responsible for paying it; and it is in addition to any commissions paid by the buyer or seller -- the brokerage receives it in addition to any commission split or additional fees taken from the agent.

Last year I had a closing where the title company made several mistakes and failed to collect the $300 "broker commission." Th e closer, her manager and the regional vice president of the title company would not return my phone calls aft er the closing. When I got my

commission check from my broker there was $300 dollars missing from it.

Th e broker's commission was taken from my commission check, which is a

Calling out Real Estate 'Junk Fees'

KB Home (NYSE: KBH), one of the nation’s largest homebuilders, announced that it has been recognized by the U.S. Environmental Protection Agency (EPA) with eight 2009 ENERGY STAR Leadership in Housing Awards. KB Home was recognized for its important contributions to energy-effi cient construction and environmental protection by building ENERGY STAR qualifi ed homes in Austin, Colorado, Houston, Las Vegas, Phoenix, Raleigh, San Antonio and Southern California during 2008.

Collectively, the homes built by KB Home in these markets will save homeowners approximately $2 million on utility bills each year. An ENERGY STAR qualifi ed home reduces energy consumption and utility costs by as much as 45%, compared to a home built as recently as 10 years ago. Th e environmental benefi ts of these ENERGY STAR qualifi ed homes are the equivalent of:

Eliminating the emissions from 2,205 • vehicles;Saving 13,340,964 pounds of coal;• Planting 3,646 acres of trees; or•

Saving the environment 26,164,313 • pounds of CO2 per year.

“We are pleased to once again be recognized by the E n v i r o n m e n t a l Protection Agency for our contributions to energy-effi cient construction in building ENERGY STAR qualifi ed homes across the

country,” said Jeff rey Mezger, president and chief executive offi cer of KB Home. “Our customers value and appreciate the cost savings these homes provide as well as the environmental benefi ts. KB Home’s recent commitment to build all newly opened communities to these guidelines is fundamental to our goal of becoming a leading environmentally friendly national company.”

To earn the ENERGY STAR, a home must meet strict guidelines for energy effi ciency set

by the EPA. Th ese homes are at least 15% more energy effi cient than homes built to the 2004 International Residential Code (IRC), and include additional energy-saving features that typically make them 20–30% more effi cient than standard homes.

KB HOME is Recognized with 2009 Energy Star® Leadership in Housing AwardsKB Home earns awards for building new homes that protect the environment through energy ef� ciency

See LEADERSHIP, Page 5-B

Travis Kessler, CEO of the San Antonio Board of REALTORS®, was awarded the prestigious William R. Magel Award of Excellence on May 13th, while attending the NAR Mid-Year Meetings in Washington D.C. Travis has been actively involved in the REALTOR® organization for thirty-two years and has made outstanding contributions to every aspect of the REALTOR® profession and industry.

Th e William R. Magel Award of Excellence is presented annually to an individual who has truly excelled in his or her role as an association executive of a local or state REALTOR® association and who is active in the REALTOR® organization at the time of nomination. All recipients of the William R. Magel Award of Excellence automatically become members of the Dr. Almon R. (Bud) Smith, RCE, AE Leadership Society.

Travis has made a life-long career with the REALTOR® organization. His career sparked in 1977, when he was just out of college, and went to work for the Texas Association of REALTORS®. He put his full energy into every facet of his job, serving the REALTOR® community with passion and conviction. Aft er fi ve years with the Texas Association of REALTORS ®, he worked with the Colorado Association of REALTORS® and the Lafayette Board of REALTORS® in Louisiana before returning to his native Texas to work with the Greater

Fort Worth Association of REALTORS®. He served Fort Worth for ten years before assuming his current position as President and CEO of the San Antonio Board of REALTORS® in

1997. Most recently, Travis serves as the 2009 National Association of REALTORS® Strategic Planning Committee.

Travis demonstrates a passion for the Association, its members, both REALTOR® and Affi liate, and its staff . Travis continues to take on volunteer and leadership roles as well as leading the San Antonio Board of REALTORS®. In addition, he has spent countless hours helping and mentoring other Association Executives as well as REALTORS®. He readily gives of his time and expertise to help local Associations facilitate their organizations strategic/business planning sessions.

Travis is respected throughout the REALTOR® community not only locally, but on the state and the national level as well. In 2008, Travis was honored as the only Association Executive in the state of Texas to have ever received two of the coveted Tom D. Morton Awards of Excellence for service to the REALTOR® organization.

With high ethical standards, Travis serves unselfi shly; always crediting his successes to the team of people he works with on every level of the REALTOR® organizations.

SABOR CEO Receives William R. Magel Award of Excellence

Travis Kessler

The ShowCase USA is now featuring Inman News, the leading source of independent real estate news, information, advice, research, opinion and commentary for industry professionals and consumers alike.

See JUNK FEE on Page 5-B

The ShowCase USA www.TheShowCaseUSA.comJune 1, 20092-B

Eye on the Economy: New Home Supply-Demand Balance Improving

Real gross domestic product (GDP) contracted at an annual rate of 6.1% in the fi rst quarter of this year, according to the “advance” estimate released by the Commerce Department on April 29. Th is was a deeper decline than the prevailing consensus estimate — NAHB expected a 5.2% contraction — and was nearly as deep as the 6.3% decline in the fi nal quarter of 2008.

Th is two-quarter contraction represents one of the worst performances in the entire post-war period.

While the overall GDP growth rates were quite similar for the past two quarters, the composition of economic activity was quite diff erent.

A major reduction in consumer spending was a huge negative in the fourth quarter of last year, subtracting 3 percentage points from GDP growth, but this component swung into the black in the fi rst quarter of this year and delivered a solid positive growth contribution of 1.5 percentage points.

A virtual collapse of business spending was the major factor behind the sharp decline in GDP for the fi rst quarter.

Spending on capital equipment and soft ware contracted at a 34% annual rate, nonresidential construction fell at a 44% rate and residential investment plunged at a 38% rate.

Th ese three components, making up private fi xed investment in the GDP accounts, knocked 6 percentage points off the economic growth rate, and a major rundown in business inventories

chopped off another 2.8 percentage points.

Th e good news is that we are not likely to see another contraction in business spending similar to the fi rst-quarter collapse and we expect consumer spending to be reasonably solid going forward — buoyed by the fi scal stimulus package enacted earlier this year.

We expect some further decline in GDP during the second quarter, but at a much slower pace than during the past two quarters.

Swine Flu ‘Pandemic’ Is Not a Major Economic Event

For a while, it looked like the outbreak of swine fl u could have major negative implications for the U.S. and global economies, particularly when the authorities declared that the geographic scope of the disease had reached “pandemic” proportions. Aft er all, a serious and uncontrollable fl u would take a major toll on the labor force, working hours and productivity, as well as on certain industries here and abroad — including travel and hospitality services.

Fortunately, swine fl u is not living up to its earlier billing. Th e Center for Disease Control now says it’s more like a mild seasonal fl u and local jurisdictions are calling off things like school closings.

While there is some concern that a more serious wave could arrive in the fall, our forecasts do not incorporate any fl u-related economic weakness.

FOMC Holds Steady at

April 29 MeetingAs expected, the Federal Reserve held

monetary policy steady at the April 29 Federal Open Market Committee (FOMC) meeting.

Th e FOMC upgraded its assessment of the economy to some degree, maintained the 0.0%-0.25% target range for the federal funds rate and committed to that position for an extended period — a strategy intended to put some downward pressure on longer-term interest rates.

Th e FOMC statement once again committed the Fed to “employ all available tools to promote economic growth and to preserve price stability,” including the unconventional “balance sheet” policies employed while traditional policy has eff ectively maxed-out.

Th e statement reaffi rmed previously announced targets for purchases of agency debt and agency mortgage-backed securities — up to $1.45 trillion for 2009 — as well as the commitment to buy up to $300 billion of Treasury securities by autumn.

Financial markets apparently were disappointed by the FOMC’s failure to raise the target for purchases of Treasury securities, and long-term Treasury rates have been subject to some upward pressure since the April 29 meeting.

Th e FOMC statement did stress ongoing reevaluation of the size and composition of its balance sheet “in light of fi nancial and economic developments,” and the Fed could very well step in if

longer-term Treasury rates move much higher.

Supply-Demand Balance Is Improving in

New-Home MarketTh e massive cutbacks in single-family

starts since early 2006, particularly in the for-sale component of the market, have resulted in substantial reductions in the overhang of new homes for sale from the highs of 2006 to 2007. Th e months’ supply is still on the high side — 10.7 in March — but that number is subject to substantial decline as sales move up from the record low posted at the beginning of this year.

Th ere are fairly convincing signs that sales of new and existing single-family homes hit bottom in the fi rst quarter of this year and NAHB’s surveys of builders suggest that the beginnings of recovery in housing demand are underway.

Key surveys of consumers point in the same direction.

Our proprietary survey of large public and private builders shows recent stabilization of gross sales and modest improvement in net sales (seasonally-adjusted data through March), while our broad-based single-family Housing Market Index showed signifi cant improvement in April.

Th e new $8,000 tax credit for fi rst-time home buyers undoubtedly is stimulating home buying to some degree and a

On April 27th, over 200 golfers showed up to the Sonterra Golf Club for the Annual GSABA Golf Extravaganza. Despite the rain delay, the golfers were able to head out to what turned out to be a nice aft ernoon of golf! Th is year’s tournament ended with the fi rst-ever GSABA Golf Ball Drop, made possible by Craig Santana and Jeff Vice of U.S. Disposal, Cardell Cabinetry and Cibolo Canyons. Th anks to Lieutenant Colonel James Chapman, USAF for fl ying the helicopter which dropped over 300 golf balls on the driving range. Congratulations to Frank Prince whose ball made it closest to the hole, winning himself a $1000 travel voucher.

Th ank you to all the companies that participated as Advertising Partners, golf players and volunteers. Th ank you to the committee members that helped to make this event a huge success, and to Albert Hernandez of No Burn of Bexar County for serving as Chairman once again.

A special thank you to the Girls of GSABA: Glee Handy, Jennie Briggs, Kim Shrum, Natalie Johnston and Sonja Gutierrez for picking up the “ball” and running with it. Th e un-dying support of these wonderful women made it possible for the GSABA Golf Extravaganza to, once again, be a great day of golf and fun!

2009 GSABA Golf Extravaganza

Above: South Course1st Place; John Gyers, Micah Cannon, Jason Smith, Mel Barbee of Flooring Services team.

Above: Lt. Col. James Chapman, pilot; Frank Prince, Prince Custom Homes - winner of the GSABA Golf Ball Drop ($1K travel voucher); Michael Moore, Ironstone Development - GSABA Immediate Past President; Jeff Vice, U.S. Disposal - Sponsor of the Golf Ball Drop; Jeremy Wright, Cibolo Canyons (donated golf balls).

Above: North Course1st Place; Brett Ingram, Jeremy Ingram, Travis Carpenter, Randy Young of Ingram Builders team.

See BALANCE, Page 5-B

The ShowCase USAwww.TheShowCaseUSA.com June 1, 2009 3-B

Zachary Hlavinka The office of Century 21 Scott Myers,

Realtors announces that Zachary Hlavinka has joined the firm as an agent.

Prior to beginning his real estate career, he was a store manager with HEB from 1997-2002. From 2002-2006, he was in the United States Air force as a Spanish Linguist. Since his separation form the Air Force in 2006, Zachary has been investing in real estate.

Hi fluency in Spanish will be a great help to him in his real estate career.

The office of century 21 Scott Myers, Realtors is located in "The Elms" - Wurzbach Rd and Lockhill Selma.

Stephanie Fikes Stephanie Fikes Joins Global Realty

Group of SchertzThe Global Realty Group announces

the addition of Stephanie Fikes as a sales associate. Fikes is located in the company’s Schertz office and specializes in the sale of residential

AgentS MoveontHe

Century 21 Scott Myers

Global Realty Group LLC.,

EXIT Slater Realtors

Weichert Realtors

Hlavinka McGinnisFikes Mitchell Hooda

Relationships

Marie McginnisEXIT Slater Realtors is pleased

to announce the addition of Marie McGinnis to their distinguished group of associates. Marie has been in the real estate business almost 40 years and licensed as Broker for over 30 years. She started her career with Arthur E. Baird and then joined her husband at Bob McGinnis Realtors, where she has overseen the business as owner for the past 30 years. Marie has served on various community boards to include St Gregory’s Credit union and the Guadalupe Community Center. She has seen great success throughout her career through referrals and repeat home buyers. She is looking forward to opening a new door of possibilities with Exit Slater Realtors.

Sol HoodaRealtor Sol Hooda, a 10-year

professional, has joined WEICHERT, REALTORS® - Lisa Kaye & Associates. He offers a full range of real estate services to clients in San Antonio and

Cindy MitchellLisa Kaye & Associates has

announced the addition of experienced Realtor Cindy Mitchell. Specializing in residential sales, she serves clients in Bexar County and surrounding areas. She is a member of the San Antonio Board of Realtors®, the San Antonio Young Real Estate Professionals and the Women’s Council for Realtors®.

The San Antonio resident is active in the community as a member of the Community Bible Church, a blood donor, a fundraiser for the Multiple Sclerosis (MS) Society and a volunteer with the Make-A-Wish Foundation and Christy’s Hope Benefit for the Battered Women’s Shelter.

Prior to entering real estate sales, she worked as a Realtor relations manager for Meritage/Legacy Homes.

real estate. Prior to joining Global Realty Group Stephanie has been in the Customer Service/Sales Industry. Her current professional memberships include SABOR, NAR, and TAR. Fikes’ is a native of San Antonio Tx.

surrounding areas as a member of the San Antonio Board of Realtors®. An award-winning agent, he earned membership in the Million Dollar Club for 2005, 2006 and 2007.

Hooda, a 17-year area resident, live in San Antonio. He is a member of the Social Safety Net and the Social Welfare Board. Prior to real estate, he worked as a mortgage broker, respiratory therapist and as a bank branch manager.

ATTENTION:

New agents in the office? Moving to a new office? Send a

bio (no more than 150 words) along with a

photograph to

[email protected]


Agent SIgHtIngS

Left: Mary Ann Arbogast and Mandy Blankenship the incoming president.

Above: Andrea Gimblet, Grace Joseph, Brynn Rouse

and, Margaret Hollingsworth of Independence Title.

Above: Paula Grigsby of TAPFCU and Victoria Robles of Stewart Title.

Above: Edwen Tsai of Lennar Homes, Nikki and Tom Blackburn of Keller Williams. See more agents sightings on

Page 6-A

PT 50 Early Qualifiers

NAPMW May

Meeting


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common business practice in my area. It is far easier to take money out of an agent's check than it is to collect it any other way, and most agents just let it go.

After a careful review of the contract signed by my buyer, I concluded that the buyer owed the brokerage $300 and had agreed to pay it. I cannot by law directly give or take money from a buyer or seller related to a real estate transaction outside of a closing.

I had never signed anything with the brokerage agreeing to pay the fee, but had agreed to charge each buyer and seller for it. It did not appear as though I owed anyone $300.

I decided to take the issue to small claims court. It is very inexpensive to take something to small claims court and the process is easy, and if I won I would get my money back and the small fee that the court charges for filing a claim.

If I lost, it would cost about $50 and take up a couple of hours of my time. I saw it as an opportunity and a learning experience.

The commission that I had earned from the transaction was unusually low to begin with, and the $300 was more than 10 percent of it, and was in addition to the 36 percent that the broker had already

taken in splits and franchise fees.In the end I did receive a check for $300 from my

broker without having to use small claims court. It may have been because the commission was so small in the first place that the broker took pity on me.

My peers did not support me on this and the company formed a committee to draft a document to be signed by all agents making them responsible for paying the fee if their clients do not. It is a common business practice to take the fee out of the agent's commission check if the money does not get collected from the consumer.

None of my Realtor friends like it, and one friend estimates that she lost a couple of grand that way last year.

She told me that before I took action -- and I didn't tell her that what she said is what made me take action (even though she spent at least 30 minutes trying to talk me out of it). The practice is so ingrained in our industry that no one wants to challenge it.

But just because a business practice is common does not mean that it is legal.

Copyright 2009 Inman News

JUNK FEE from Page 1-B

number of states, including California, have enacted their own stimulative measures.

The new-home market obviously is still struggling with stiff competition from the existing home market, including near-record numbers of vacant units for sale as well as the upswing in foreclosures that’s feeding the vacant stock. Weakness in the economy also is a negative at this time, although the worst apparently is behind us and measures of consumer confidence and sentiment have shown recent improvement.

Consumers’ assessments of home buying conditions also have been on the rise — driven by widespread price declines and falling mortgage rates that recently have elevated standard measures of affordability to record levels.

It’s still quite early in the recovery game, but it appears that the supply-demand balance has stabilized and is beginning to improve.

That’s the foundation for NAHB’s forecast that shows gradual improvement in home sales beginning in the current quarter and even more gradual improvement in single-family starts beginning in the third quarter of this year.

Fed Chairman Expects Improvements in Housing and the Economy

Testifying before Congress’ Joint Economic Committee on May 5, Federal Reserve Chairman Ben Bernanke said recent data suggest that the pace of contraction in economic activity “may be slowing” and noted that the housing market “has shown some signs of bottoming.”

Looking forward, he said the Fed expects economic activity to bottom out before long and turn upward later this year.

Key elements of his forecast are judgments that the housing market is beginning to stabilize, the sharp liquidation of business inventories will slow down and fiscal and monetary stimulus already in train will support final demand.

Bernanke stressed that his forecast assumes continuing gradual repair of the financial system, a process that still has a long way to run.

In this regard, he noted that mortgage markets have responded favorably to the Fed’s purchases of agency debt and mortgage-backed securities. However, he stressed that the supply of mortgage credit is still relatively tight and that the mortgage market remains heavily dependent on the support of government programs like FHA and the government-sponsored enterprises, Fannie Mae and Freddie Mac.

Bernanke noted that the early stages of the projected economic recovery are likely to display below-trend GDP growth that will involve further deterioration of the labor market and keep downward pressure on inflation for some time.

These features also are part-and-parcel of NAHB’s current economic outlook.


BALANCE from Page 2-B

ENERGY STAR qualified homes offer homebuyers all the features they want in a new home, plus energy-saving features such as effective insulation systems, high performance windows, tight construction and ducts, properly-sized and installed efficient heating and cooling equipment, and third-party verification of energy performance.

“Most homebuyers focus on what’s outside the walls,” said Sam Rashkin, National Director for EPA’s ENERGY STAR Homes Program, “but they also need to look behind the walls for the energy-efficient features found in ENERGY STAR qualified homes that help ensure comfort, quiet, improved indoor air quality, and low utility bills for years to come.”

LEADERSHIP from Page 1-B


Historically high housing affordability and low mortgage interest rates, combined with buyer opportunities in the distressed sales market, have increased home sales in many areas of the country.

“There has never been a better time to buy,” said National Association of Realtors® Chief Economist Lawrence Yun, who presented NAR’s economic outlook today at the Economic Issues and Residential Real Estate Business

Trends Forum. Yun commented on a convergence of favorable buying conditions while emphasizing how important it is for home buyers to stay within their budgets.

“Housing affordability is at an all-time high, mortgage rates are historically low, and interest rates are the lowest they’ve been since the days of Eisenhower,” said Yun.

The forum was part of the weeklong Realtors® Midyear Legislative Meetings

& Trade Expo. During a national real estate summit here earlier in the week, Shaun Donovan, U.S. Secretary of the Department of Housing and Urban Development, announced that the Federal Housing Administration is going to permit its lenders to allow qualified home buyers to use the $8,000 tax credit as a downpayment.

“Now that buyers will be able to use the $8,000 tax credit as a downpayment, we should see additional buyers enter

the market,” said Yun.While he doesn’t anticipate an

immediate pickup in the coming months, Yun believes early summer will be a critical indicator of how home buyers are responding to the $8,000 tax credit. “The home buying process takes time,” said Yun. “This summer will gauge the success of the first-time home buyer tax credit.”

Evidence of recovery is already demonstrated in California, where home sales are rising much faster than anticipated; some areas in the state are seeing a 70 to 80 percent increase in sales. Yun attributes this extraordinary surge to buyers who may have been sitting on the fence but are now taking advantage of the great opportunities for fear of being left out of current deals in the market.

According to Yun, many first-time buyers are attracted to deeply discounted and distressed home prices. Nationally, about half of all recent transactions have been distressed sales. Fifteen to 20 percent have been short sales and 30 to 35 percent have been foreclosures. Yun says while these statistics are unfortunate the situation along with current home buying incentives have created an impressive window of opportunity for potential home buyers.

“The stimulus and falling inventory levels will help stabilize prices,” said Yun. “My projection is home sales will be 10 to 20 percent higher the second half of this year than last year and we will come out of this recession in 2010.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.


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Improving the availability of credit and access to capital are essential to recovery in the real estate market. Addressing these challenges was the focus of the "Financing Real Estate for Tomorrow" session, part of the National Association of Realtors®' daylong “Real Estate Summit: Advancing the U.S. Economy.”

“As the leading advocate for housing issues and homeownership, NAR knows that real estate is the road to economic recovery,” said NAR President-Elect Vicki Cox Golder. “It is vital for the health of both the residential and commercial real estate markets to improve the fl ow of credit, and we look forward to identifying paths toward a successful resolution of this current credit crisis."

In his keynote address to the attendees, former Federal Reserve Board Chairman Alan Greenspan identifi ed two major problems confronting a housing recovery and ultimately an economic recovery in the near-term – falling home prices and increased inventory. Falling home prices decrease homeowners’ equity, and when mortgage debt exceeds equity, defaults increase. To exacerbate the problem, increased inventory of unsold single-family homes continues to depress prices.

Greenspan’s remarks were followed by a panel discussion moderated by Jane Bryant Quinn, contributing editor for Newsweek. Members of the panel included Bruce Katz, vice president, Brookings Institution; Conrad Egan, president and CEO, National Housing Conference; Phil Bracken, executive vice president, Wells Fargo Home Mortgage; and Jeff DeBoer, president and CEO, Th e Real Estate Roundtable.

Panel participants emphasized the need to stabilize and provide liquidity to fi nancing in both the residential and commercial real estate markets. Jerry Howard, president and chief executive offi cer of the National Association of Home Builders, reported seeing a signifi cant reduction of available credit in land acquisition, development and construction. “Th ere are no new homes being constructed right now,” said Howard. “Funding is vital to the health of the American housing market.”

“A sound and functioning commercial and multifamily real estate sector is critical to our country’s economic growth and development,” said NAR Treasurer Jim Helsel. “Th is sector now faces its worst liquidity challenge since the Great Depression, and we must address it to stem the threat of rising delinquencies and foreclosures.”

Michael Calhoun, president, Center for Responsible Lending, observed that restrictive lending isn’t the only challenge. “Th e market is being fl ooded with foreclosures, which is creating problems on the supply side,” said Calhoun. “We must address this excess supply before the real estate market can recover.”

Egan emphasized the fundamental importance of strong credit scores and personal savings on an individual level. “We need to get back to basics,” he said.


Credit is Key to Real Estate Recovery Benjamin Godina, Marketing

Director/REALTOR® from EXIT New Century Realty and Business Partners in San Antonio hosted yet another Homebuyer Seminar on April 25, 2009 at Champions School of Real Estate. A special thanks to Kim Dydalewicz - Campus Manager, Christina Castillo - Career Counselor and Lori Rodriguez - Career Counselor for providing such a wonderful atmosphere setting and extending service above and beyond.

Our presentation included Mortgage Lending/Refi nancing, Homeowners/Life Insurance, City of San Antonio Home Buying Initiative Programs, Credit Restoration/Repair and Real Estate buying and selling in any market. Our audience understood aft er our positive presentation and education of our services that today's market is just a mere blur. "Education and training is vital to our buying process and this service was truly a benefi t to my next

step. Th ey made me feel very comfortable with answers that made sense. I recommend them to any First Time Homebuyer," says Ramfi s Monzon who is actively looking to buy his fi rst dream home.

Individual commitment to a group eff ort - that is what makes a team work, a company work, a society work, a civilization work, says Benjamin Godina - Marketing Director/REALTOR ® with EXIT New Century Realty.

A special thanks to Yvonne Godina with Castle & Cooke Mortgage (210) 451-7333 , Jose Diaz with Farmers Insurance Group (210) 213-9974 , Elsa Avitia with Mission Title (210) 734-3500, Corey Dukes with Elite Credit Restoration (210) 858-9282, Raul Ortiz with All Foundation Repair (210) 421-5316 and Penny Dawn with "A" Team Appraisal. We are ready to provide professional service and commitment to any business associate.

EXIT New Century Hosts Educational Event

www.theshowcaseusa.comSales Offi ce

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First-time home buyers responding to improved aff ordability conditions, and lower prices of foreclosures and short sales, impacted metropolitan area median home prices in the fi rst quarter, while existing-home sales remained sluggish in many parts of the country, according to the latest survey by the National Association of Realtors®.

With fi rst-time buyers accounting for half of all purchases during the fi rst quarter, 134 out of 152 metropolitan statistical areas reported lower median existing single-family home prices in comparison with the fi rst quarter of 2008, while 18 metros had price gains.

Many buyers sought deeply discounted distressed sales – foreclosures and short sales – which accounted for nearly half of transactions in the fi rst quarter and weighed down median home prices in most markets.

Th e national median existing single-family price was $169,000, which is 13.8 percent below the fi rst quarter of 2008 when conditions were closer to normal. Th e median is where half sold for more and half sold for less, but distressed homes typically are selling for 20 percent less than traditional homes and are downwardly skewing median prices.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said there are two levels of pricing in the current market. “Traditional homes in good condition have held their value much better, so owners shouldn’t be overly concerned about median prices. Most sellers can expect a good return if they’ve been in their home for a normal period of homeownership and haven’t excessively tapped their equity,” he said.

“Given the unusual mix of conditions around the country, the expertise and negotiating skills of a Realtor® have never been more important,” McMillan said. “Unparalleled knowledge of local markets is crucial for consumers.”

Total state existing-home sales, including single-family and condo, were at a seasonally adjusted annual rate of 4.59 million units in the fi rst quarter, down 3.2 percent from 4.74 million units in the fourth quarter, and are 6.8 percent below the 4.93 million-unit pace in the fi rst quarter of 2008.

Seventeen states experienced sales increases from the fourth quarter, and six states were higher than a year ago; complete data for one state was not available. Sales in the fi rst quarter do not refl ect an impact from the fi rst-time home buyer tax credit.

Lawrence Yun, NAR chief economist, sees the market in a lull before an upturn. “Over the past couple months, contract activity for home sales, buyer traffi c and inquiries about the $8,000 tax credit have all increased,” he said.

“Close to 455,000 buyers purchased their fi rst home during the fi rst quarter,

and those are likely just the fi rst wave of new buyers coming into the market – they’re critical for a housing recovery,” Yun said. “Housing aff ordability conditions are at record high levels and we expect a measurable increase in home sales during the second half of the year, which would help stabilize prices in most areas.”

According to Freddie Mac, the national average commitment rate on a 30-year conventional fi xed-rate mortgage fell to a record low 5.06 percent in the fi rst quarter from 5.86 percent in the fourth quarter; the rate was 5.88 percent in the fi rst quarter of 2008.

Yun said some areas showed dramatic drops in home prices. “In areas with the biggest price declines, we also see much higher levels of distressed sales

which are distorting the data,” Yun said. “We are very much in a bifurcated market with sharp diff erences between foreclosures and short sales on one hand, and traditional homes on the other. In many cases homes are selling below replacement construction costs, which speaks to great value in the current market.”

Th ere were bright spots in the fi rst quarter. Th e largest sales gain from a year ago was in Nevada, up 116.8 percent, followed by California which rose 80.6 percent, Arizona, up 50.2 percent, and Florida with a 25.0 percent increase. Virginia and Minnesota also experienced double-digit sales increases.

Th e largest single-family home price increase in the fi rst quarter was in the Cumberland area of Maryland and West Virginia, where the median price of $114,900 rose 21.1 percent from a year ago. Next was the Davenport-Moline-

Rock Island area of Iowa and Illinois at $100,300, up 13.8 percent from the fi rst quarter of 2008, followed by Columbia, Mo., where the median price increased 6.0 percent to $152,600.

Median fi rst-quarter metro area single-family home prices ranged from a very aff ordable $30,300 in the Saginaw-Saginaw Township North area of Michigan to $570,000 in Honolulu. Th e second most expensive area was the San Jose-Sunnyvale-Santa Clara area of California, at $450,000, followed by the Anaheim-Santa Ana-Irvine area of California at $435,800.

Other aff ordable markets include Akron, Ohio, at $50,100, and the Youngstown-Warren-Boardman area of Ohio and Pennsylvania at $51,200.

In the condo sector, metro area condominium and cooperative

prices – covering changes in 56 metro areas – showed the national median existing-condo price was $172,800 in the fi rst quarter, down 20.2 percent from the fi rst quarter of 2008. Five metros showed annual increases in the median condo price and 51 areas had declines.

Th e strongest condo price increases were in Portland-South Portland-Biddeford, Maine, at $196,900, up 11.2 percent, followed by the Wichita, Kan., area, where the median condo price of $113,900 rose 6.8 percent from the fi rst quarter of 2008, and Bismarck, N.D., at $132,400, up 6.0 percent.

Metro area median existing-condo prices in the fi rst quarter ranged from $75,200 in Las Vegas-Paradise, Nev., to $345,900 in San Francisco-Oakland-Fremont. Th e second most expensive reported condo market was Honolulu at $300,000, followed by the New York-Wayne-White Plains area of New York

and New Jersey at $282,300.Other aff ordable condo markets

include the Palm Bay-Melbourne-Titusville area of Florida at $90,600 in the fi rst quarter, and the Sacramento-Arden-Arcade-Roseville area of California at $93,800.

Regionally, existing-home sales in the Northeast fell 10.3 percent in the fi rst quarter to a pace of 693,000 units and are 20.1 percent below a year ago.

Th e median existing single-family home price in the Northeast declined 15.9 percent to $235,500 in the fi rst quarter from the same period in 2008. Th e best gain in the region was in Syracuse, N.Y., where the median price of $113,700 rose 3.1 percent from the fi rst quarter of 2008, followed by Buff alo-Niagara Falls, N.Y., at $99,200, up 2.7 percent, and Binghamton, N.Y., where the median rose 0.5 percent to $110,300.

In the Midwest, existing-home sales slipped 2.2 percent in the fi rst quarter to a pace of 1.04 million and are 13.1 percent below a year ago.

Th e median existing single-family home price in the Midwest was down 6.8 percent to $132,400 in the fi rst quarter from the same period in 2008. Aft er Davenport-Moline-Rock Island and Columbia, the next strongest metro price increase in the region was in Springfi eld, Ill., where the median price of $111,400 was 3.9 percent higher than a year ago, followed by Topeka, Kan., at $106,500, up 3.1 percent, and Bloomington-Normal, Ill., at $153,800, up 1.9 percent.

In the South, existing-home sales declined 2.5 percent in the fi rst quarter to an annual rate of 1.70 million and are 12.7 percent lower than the same period in 2008.

Th e median existing single-family home price in the South was $146,600 in the fi rst quarter, down 10.8 percent from a year earlier. Aft er Cumberland, the strongest price increase in the region was in Beaumont-Port Arthur, Texas, with a 5.0 percent gain to $129,100, followed by Oklahoma City, at $129,900, up 4.0 percent, and Shreveport-Bossier City, La., at $136,000, up 3.4 percent.

Existing-home sales in the West slipped 0.9 percent in the fi rst quarter to an annual rate of 1.16 million but are 24.3 percent above a year ago.

Th e median existing single-family home price in the West was $237,600 in the fi rst quarter, which is 19.8 percent below the fi rst quarter of 2008. Th e strongest price gain in the West was in the Salt Lake City area, where the median price of $230,100 rose 1.9 percent from a year earlier, followed by Farmington, N.M., at $191,200, up 0.7 percent.


Foreclosure and Short Sale Discounts Weigh Down Metro Area Median Prices


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Best Homes GMAC Real Estate has expanded the number of services it provides to consumers in the San Antonio area which means customers can now experience a convenient, one-stop shopping experience when buying or selling a home.

Best Homes GMAC Real Estate’s expanded services provide customers with a simplifi ed experience customized

for their specifi c needs, off ering a more seamless real estate transaction. Th e company now off ers: Property Management, giving consumers precisely what they are looking for: a more effi cient real estate transaction.

"We’ve spent a great deal of time determining exactly what our customers want, then adding the services they are looking for that are key to the

transaction," said Joe Acosta of Best Homes GMAC Real Estate. "We’re extremely excited about expanding our services."

Best Homes GMAC Real Estate specializes in providing Residential, New Home Sales, Commercial, Relocation and Property Management real estate services in the San Antonio area. Best Homes GMAC Real Estate is located

at 4800 Fredericksburg, suite 100 and can be reached at (210) 691-4622 or for additional information, go to www.bhgmac.com. GMAC Real Estate has more than 1,000 real estate brokerage offi ces and nearly 20,000 agents in the U.S., Puerto Rico and Canada.

Best Homes GMAC Real Estate Expands Services to now Offer Property Management

Real estate professionals have unique financial and cash-flow requirements, and with the launch of the REALTORS® Federal Credit Union at the Realtors® Midyear Legislative Meetings and Trade Expo here this week, Realtors® now have a banking resource that was designed specifically with their needs in mind.

“Just as Realtors® add value to the real estate transaction, we wanted to add value for our members,” said National Association of Realtors® President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Realtors® work tirelessly to help their clients, and RFCU makes that same commitment to Realtors®, giving

them the convenience, accessibility and financial services they need, whenever they need it.”

Open 24 hours a day, seven days a week, the Internet-based RFCU is designed to accommodate Realtors®’ busy schedules. RFCU offers access to thousands of surcharge-free ATMs nationwide, secure online banking and bill pay, safe deposits, affordable loans and trusted advice.

Some of the benefits include money market savings accounts, no-fee eChecking with debit cards, personal loans and credit lines, real estate loans and credit lines, share certificates, 24-hour online account access, and 24-hour Member Care that offers support by phone or online. RFCU offers competitive interest rates

on both savings and lending, and funds are federally insured to at least $250,000 and backed by the full faith and credit of the U.S. government.

Owned by its members and directed by an elected volunteer board, RFCU earnings accrue to the benefit of the credit union’s members, not stockholders.

“The member-owned RFCU is dedicated to helping Realtors® manage their everyday finances as well as to prepare for the road ahead.” said Thomas A. Glatt Sr., RFCU chief executive officer.

Realtors® and their families are eligible to become RFCU members, as are NAR staff and the staffs of state and local Realtor® associations and boards, and their families.

For more information regarding services, benefits and membership requirements, visit RFCU’s Web site at www.REALTORSfcu.org.

RFCU is a member benefit offered by NAR and its REALTOR Benefits® Program. The REALTOR Benefits® Program offers practical solutions for Realtors® on the products and services they use every day. The program includes offerings from nearly 30 companies, in a variety of categories, recognized as leaders in their respective industries.


REALTORS® Federal Credit Union Opens for Business


*This guarantee is conditioned upon credit approval and starts with the timely receipt of all required informa-tion provided by the borrower or any third party. The information may include, but is not limited to, purchase contract (if applicable), an acceptable appraisal, a clear preliminary title, survey, inspections, documentation for income and assets, third party verifi cations, and proper insurance coverage. Castle & Cooke Mortgage, LLC cannot be held responsible for any required documentation that is not received in a timely manner.

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More than 2,700 Realtors® have completed the National Association of Realtors® Green Designation Core Course and over 1,250 NAR members have received NAR’s Green Designation. NAR’s Green REsource Council anticipates that 3,000 Realtors® will have earned the designation by the end of the year.

“Realtors® build communities and understand the importance of green homes and buildings,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Consumers recognize the relationship between green properties, cost savings and healthy living and are looking for Realtors® to help them fi nd the home that fi ts their needs.”

According to a recent NAR survey, 90 percent of recent home buyers thought energy effi ciency was a very important consideration when searching for a home, and the demand for green buildings and environmentally sensitive home features is growing. According to the National Association of Home Builders, the green homes market is expected to increase to 10 percent by 2010. Realtors® who have earned NAR’s Green Designation are

prepared to help consumers and clients in their search for environmentally friendly properties and work to incorporate green principles into their own practice.

Realtors® and affi liate members of NAR obtain the designation aft er completing a 12-hour core course and 6-hour elective course in either residential, commercial, or property management. Nearly 300 courses are currently scheduled across the United States and Canada in 2009. Consumers can now fi nd Realtors® with this designation in the “Find a Realtor®” section at www.realtor.org. For more information about the Green REsource Council and the designation, visit www.GreenREsourceCouncil.org.

“NAR’s Green Designation increases the value Realtors® add to the transaction,” said McMillan. “By arming themselves with the tools and training necessary to seek out, understand and market green properties, our members become a positive force for creating sustainable and energy-effi cient communities.”


Realtors® Recognize the Power of Green

View the virtual issue online at www.theshowcaseusa.com

Sitterle Homes has opened for sales in Salado Canyon in Rogers Ranch.

Th is gated community gives families easy accessibility to many parts of the city—only minutes away from Th e Shops at La Cantera, Th e Rim, the Medical Center, and many places of business. Salado Canyon off ers 10 fl oor plans, ranging from 2356 to over 4,000 square feet. Th e plans have a variety of unique spaces, including a hobby center, large master walk-in closets, a sunroom, a game room, library with a separate study, or extra storage in garages or on second fl oors. Plans with standard three-car garages and up to four and fi ve bedrooms are available. Families also have a wide array of structural options from which to choose, including Entertainer or Gourmet Kitchens and Spa or Luxury Master Baths, among others.

Children who live in this community will go to Northside ISD schools, including Blattman Elementary School, as of this writing. Rogers Ranch residents have access to many wonderful amenities, including a Junior Olympic swimming pool with a swim club, tennis court, playground, community pavilion, miles of walking trails and mini-parks.

“We’re excited to off er another

choice for homebuyers in beautiful and prestigious Rogers Ranch,” Jeff Buell, Partner, said. “We truly off er something for every lifestyle—families can enjoy beautiful native trees and landscapes in Salado Canyon, while Th e Gardens On Point Bluff off ers hilltop garden home living for empty-nesters and young professionals.”

To visit Salado Canyon in Rogers Ranch, travel west on Loop 1604 from Highway 281 North. Exit Bitters/Rogers Ranch Parkway and make a right on Rogers Ranch. Continue on Rogers Ranch until it turns into Salado Canyon. Turn left on Apache Plume, where the model will be on the left . Homes currently start from the $300’s.

For more information on building with Sitterle Homes in Salado Canyon in Rogers Ranch, go to www.sitterlehomes.com, email [email protected] or call (210) 479-1400.

Sitterle Homes Opens for Sales in Salado Canyon

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GSABA AnnouncementsJune 11 - Associate's Council from 11:30am-

1:00pm at the GSABA Ray Ellison Auditorium. For more information, contact Kimberlyn Kalmus at 696-3800.

June 12-13 - GSABA Fishing Tournament, Port Aransas, TX. To register your team, call Sonja or Traci at 696-3800.

June 25 - TAB Summer Board Meeting

SABOR NEWS YOU CAN USE2009 Realtor Builder Bus Tour "The Northeast Expanse"Presented by SABOR's REALTOR®/Builder Committee Buses provided by FieldStone Homes will depart from the Lowe's Parking Lot at IH 10 & Callaghan Road Date: Friday, June 5, 2009

Location: IH-35 Corridor Cost: $27 per ticket. tour: 7:30 a.m. - 3:00 p.m. Lunch: 1:00 p.m. - 2:00 p.m.

Eugene Herbert and James Rodgers Earn Prestigious Designation

Eugene Herbert and James Rodgers of RE/MAX North-San Antonio have both earned the prestigious Certifi ed Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. Th is is invaluable expertise to off er at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In San Antonio, more than 1300 homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“Th is CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Eugene. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property

Institute in Boca Raton, Fla., said that Realtors® such as Eugene and James with the CDPE designation have valuable training in short sales that can off er the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. Th ese experts also may better understand market conditions and can help sellers through the emotional experience, he said.

Th e Distressed Property Institute opened in January 2008 and provides training on-site and online. Th e CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

Eugene and James can be reached at 210.659.6700 and 695.4850, respectively.

Kate Keating Awarded RE/MAX of TX Broker/Owner of the Year

RE/MAX North-San Antonio would like to congratulate Kate Keating on being awarded the RE/MAX of Texas Broker/Owner of the Year! Kate is dedicated to the success and education of her agents and she shows it through her

unwaivering leadership and support. We are proud to be on your “team!”

James Rodgers has Earned his ABR Designation

James Rodgers of RE/MAX North – San Antonio has just earned his Accredited Buyer Representative Designation (ABR).

Th e ABR designation is a prestigious one and refl ects commitment and dedication on the

part of the Realtor® who puts forth the eff ort to obtain it. Rodgers joins an elite group dedicated to providing the best service possible for her clients.

CALENDAR OF EVENTSJune:

3rd

WCR: Business Resource Meeting11:00am - 1:00pm @ Sonterra Country Club, RSVP to www.wcrsanantonio.com

5th

SABOR: 2009 REALTOR/Builder Bus Tour7:59am bus departure @ Lowe's Parking Lot at IH-10 & Callaghan Rd.Contact Robyn Locke at [email protected](210) 593-1200

9th

CREW-San Antonio Luncheon11:30am - 1:15pm @ Oak Hills Country Club, Contact Tracy Ballard at [email protected](210) 415-1300

10th

SAYREP Networking Mixer5:30pm - 7:30pm @ Cafe' PaladarContact Matt Proffi tt at mattproffi [email protected]

Industry News & Events

Visit www.theshowcaseusa.com for more events.

The ShowCase is published semimonthly. The ShowCase is not responsible for opinions or facts expressed by non-staff writers or for errors and any by products in advertising or editorial copy. REALTOR® is a registered trademark. The word REALTOR® sometimes appears without the registered trademark symbol (®), for the purpose of saving space. Wherever the word REALTOR appears in this paper, the registered trademark should be assumed. We welcome submissions of photos, press releases or articles be sent to Charles Long at [email protected].

San Antonio & Austin

13300 Old Blanco Rd. | Ste. 235 | San Antonio, TX 78216

Offi ce: 210-493-5554 | Fax: 210-493-5560

Managing PartnerCara Diaz | [email protected]

Newspaper Designer Charles Long | [email protected]

Vice President of Sales & MarketingRachael Sandahl | [email protected]

Vice President of Sales & MarketingPatricia Tsai | [email protected] proudly support the following organizations

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Pardon the Dust While We Prepare

Great New Home Communites!

Contact Kristen McCort at 210-582-0920for more information.

Featuring The Patriot Collection

13

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10 Fabulous Home Plans ranging

from 1,414 to 2,701 square feet

Highly Sought After Northeast ISD

Great North Central Location

Close Hwy 281, Loop 1604 & I.H. 10

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Swimming Pool

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9

Evans

1604

Bulverde 46

1863

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Borgfeld

PANTHER CREEKLAUREL MOUNTAIN RANCH

San Antonio

Culebra

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1604

151

211

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LacklandAFB

Kelly USA

SeaWorld

Featuring The Villita Collection

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14 Fabulous Home Plans ranging


Acclaimed Northside I.S.D.

No City Taxes

Close to Military Bases

Easy Access to Major Highways

Ceramic Tile Flooring

Security system

13

FM 1103

SchertzCibolo

Evans

46

1863

78

13

RandolphAFB

16

New Braunfels

1604

3009

HEIGHTS AT CIBOLO

Featuring The Partiot & Premier Collection

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13

11 Gorgeous Home Plans ranging


Top Rated SCUC ISD

Close to Randolph A.F.B.

Close to Austin & San Marcos

Ceramic Tile Flooring

Security system

Quiet small town atmosphere

PRE-CONSTRUCTION PRICING COMING SOON!

sat.drhorton.com (210) 582-0920

THREE

Prices, Plans, features, options, and co-broke are subject to change without notice. Additional restrictions may apply. Square footage are approximate.

june 1st issue, san antonio

Documents

homes value

percent of homeowners

clients homes

hogan homes

lennar homes

fieldstone homes

new homes

home values