i. 8 / vol. I

www.samcar.orgMonthly Newsletter of the San Mateo County Association of REALTORS®

November2008

SAMCAR

Legislative

CAR

NAR

In this issue

Message from the CEO page 1 Message from the Presidentpage 2 Welcome New Members from October 2008page 2

November 4 is Election Day:Make your REALTOR® VoiceHeard and Vote!page 3

Executive Updatepages 5 & 6

Why NAR SupportsGovernment Interventionpage 3

Code of EthicsTraining Deadelinepage 4

MLSMLSListings, Inc. Updatespage 4

Find your p

olling place,

track electio

n results

and more at:

www.shapethefuture.org

Make yo

ur

REALTOR®

Voice

Hea

rd

and Vote

on N

ovem

ber 4

Monthly Newsletter ofThe San Mateo County

Association of REALTORS®

www.samcar.org

tel. (650) 696-8200fax (650) 342-7509

2008 PresidentPresident Elect

Region 25 ChairDirectorDirectorDirectorDirectorDirectorDirectorDirectorDirector

Affiliate DirectorDirectorDirectorDirector

Sue WalshOlivia T. EdwardsGeoffrey CraigheadTim AuranEric BerggrenJohn CliffordNini De La Fuente-PecsonBobbi DeckerSuzan Getchell-WallaceAnne OlivaJennifer TastoEdgar TulcanazaSue VaterlausMarianne Zanone RushDavid Zigal

SAMCAR {RE}source is published monthly by the San Mateo County Association of REALTORS®,850 Woodside Way, San Mateo, CA 94401 and distributed to more than 4,000 recipients. E-mail samcar@samcar.org your questions or comments.

BoARd of diReCtoRS

Philip B. Tedesco, RCE, CAE

Chief exeCutive offiCeR

editoRiAL teAM

Director of Public Affairs Publications Designer

Michon Coleman Dalen Gilbrech

Copyright © 2008

Our VisionThe Voice for Real Estate Professionals and

Property Owners in San Mateo County.

ASSoCiAtioN NewS

Message from the CEO

Philip B. Tedesco, RCE, CAESAMCAR Chief Executive Officer

One of SAMCAR’s ongoing goals is to increase communication to the members – increased communication, but more importantly, more comprehensive and relevant information to you for your business. A summary of actions taken at the CAR Business Meetings has been prepared by the SAMCAR Directors and is made available to you in this month’s issue (see pages 5 and 6). This important information will be made available from now on following each of the State meetings. Additionally, we will be exploring new and exciting ways of providing this information to you.

On that note, I am extremely pleased to announce that SAMCAR has recently hired Julie Ziemelis to assist in the development and delivery of SAMCAR’s increased communications. Julie will begin in mid-November, bringing close to two decades of experience with REALTOR® associations. Julie is recognized throughout Northern California for her innovative approach and solid track record of building programs that strengthen the REALTORS®’ position within

their community and I am thrilled to welcome her aboard.

I also want to congratulate Michon Coleman on her promotion to Government Affairs Director for SAMCAR. Michon has been with SAMCAR since 2005 in the Government Affairs Department as the Deputy Director, and most recently as the Director of Public Affairs. Through a shared services agreement, she also serves as the Government Affairs Director for the Santa Cruz Association, which allows us to take a broader, regional approach to legislative advocacy. Michon is well-versed in the legislative arena and will continue to ensure that you are represented at the local, State and Federal levels.

As I mentioned earlier, this is the time of year that SAMCAR begins building committees for 2009. I encourage you to become more involved with SAMCAR. Please let us know where you might share your expertise by volunteering for a committee using the link below. Remember, it’s your Association!

Become a leader in your Association!Volunteer for a CommitteeNew SAMCAR Committees will be forming for 2009. Members are urged to take a part in the planning of association activities, local legislative issues, technology programs, member services and Professional Standards.

Committee Application form (PDF) available online at: http://www.samcar.org/userfiles/file/Committees09_application.pdf

November 2008 2ASSoCiAtioN NewS

REALTORS

Welcome New MembersThe Following Members Joined in October 2008

AFFILIATES

Message from the President

Sue Walsh2008 President

That has been the message from the market this year, and we have all experienced both.

Perhaps more important is the question, “What does the future market hold?” The CAR meetings in mid-October had an additional focus this Fall on the economic crisis, both nationally and internationally. Overflow crowds heard from CAR’s economist, Leslie Appleton-Young, followed by a distinguished panel of economists. Consensus was that we would see a gradual improvement in the market starting in the second quarter of 2009. While no one saw any great upswings, there is a commonly held belief that some of the governmental solutions would be in place and effectively produce a stable environment. The watch point, all said, was the spread in the treasury rates returning to less than a 100 point spread. They felt that this is a “fear versus

Trick or Treat...opportunity” environment, with REO meaning Road to Economic Opportunity!

The bottom line forecast from all is that the recession will last through early 2009, with a moderate recovery thereafter, economic expansion by 2010-2011, and upturn signals besides the TED spread, including an absorption of foreclosure/REO properties!

There appears to be good news on the horizon. The Governor’s office and DRE are working on a foreclosure prevention program with local Associations. More information about when this will be available in our area is forthcoming.

As always what goes up, must come down and visa versa! We are fortunate that we live on the peninsula, where the impact has been a little less than anywhere else in the state! Happy Selling!!

Barbara Biscocho, Exit Realty, WEM & Assoc.

Ernie Chan, Exit Realty, WEM & Associates

Jen C. Jacinto, Diamond Realty & Mortgage

Sal Kumar, Intero Real Estate Services

Jason Leung, Alain Pinel Realtors

Hong Lin, ZipRealty, Inc.

Linda Merino, McGuire Real Estate

Jennie Peterson, Coldwell Banker

Dennis Soto, Diamond Realty & Mortgage

Shanhong Wan, Century 21 Realty Alliance

Suzan Alakas, Wells Fargo Pvt. Mtg. Banking

Bill Brady, Stage for Success

Victoria Hunter, Stage for Success

Fitnete Kraja, Wells Fargo Pvt. Mtg. Banking

Lavette Ray, San Francisco Chronicle

Coral Soutar, Stage for Success

Time to “fall back”...Remember to setyour clocks back1 hour at 2 a.m.on Sunday, November 2Returning to Pacific Standard Time (PST).

Getting a mortgage, small business, or short-term loan becomes extremely dif-ficult, even for good credit consumers and businesses. Consumer and business bankruptcies rise significantly, as refinancing options are shut down. Lines of credit are reduced and inter-est rates on personal and business credit cards rise, adding to the burden on families. Consumer and business spending de-clines, further depressing the economy. Unemployment increases significantly. Budget deficits increases noticeably due to declining revenue collection at all levels of government.

•

•

•

•

••

On November 4th you will have the opportunity to participate in an historic Presidential election. Please remember to cast your vote for your local, state and federal legislators. Also, be sure to make your voice heard on all ballot measures in your city, as well as the statewide measures.

This election cycle, SAMCAR endorsed candidates for City Council in two cities: Daly City and Pacifica. In Daly City, David Canepa and Judith Christensen received SAMCAR’s endorsement. In Pacifica, SAMCAR endorsed Pete DeJarnatt, Cal Hinton and Mary Ann Nihart.

The Association has taken a strong OPPOSE position on Measure W, in Redwood City. Measure W, if passed, will require a citywide vote and approval by a 2/3rds supermajor-ity to develop certain areas within the City. The most devastating impact of this measure

November 4th: Election Day

will be felt by approximately 500 private homeowners, who will need to require this citywide approval to make simple renovations and room additions.

SAMCAR made a significant financial contribution from our Local IMPAC account to help fund “Citizens Against Costly Initiatives” the campaign in opposition to Measure W. IMPAC is the Issues Mobilization Political Action Committee, made possible by your REALTOR® Action Fund contributions. CAR’s State IMPAC Trustees elected to join our efforts as well, with a significant

2008 REALTOR® Voter GuideFor information about the General Election, includinghow to locate your polling station, please refer to the2008 SAMCAR Voter Guide, available online.

http://www.samcar.org/userfiles/file/VOTE08_SAMCAR.pdf

The National Association of REALTORS® urged members earlier this month to call on national lawmakers to pass the financial res-cue bill.

NAR President Dick Gaylord also asked members to educate themselves and their customers on how the rescue bill can help the housing market and the economy, in general.

“This is a critical time for our nation, and REALTORS® everywhere need to call on Congress to enact a recovery plan that will end the economic crisis we are facing,” NAR President Dick Gaylord said.

Despite what’s been reported in some news outlets, the laws and policies that Congress is considering will directly benefit Main Street,

by making financing more available and helping to stabilize home sales and prices, Gaylord said.

“Like it or not, the housing market can’t re-bound until we resolve the problems in the financial markets,” he said.

Fate of Economy Depends on BillGaylord has received messages from some members who want to know why NAR is supporting unprecedented government in-vestment in financial institutions and the housing market.

In response, he said that the fate of the econo-my depends on it. “Many buyers can no lon-ger find financing they need to buy a home, contracts are being pulled off the table, and sellers are cancelling their listings,” he said.

Without “swift and substantial intervention,” real estate practitioners and consumers will be faced with a market where:

Make Your REALTOR® Voice Heard & VOTE!!

NAR updAte

commitment of $25,000. This issue resonated with REALTORS® across the state, resulting in contributions from the following local AOR’s: Silicon Valley AOR; Santa Clara County AOR; Sacramento AOR; Greater Inland AOR; South Bay AOR and the San Diego AOR. All contributions combined totaled approximately $50,000, allowing the REALTOR® voice to be heard clearly and effectively.

Opposing bad policy such as Measure W and electing qualified candidates requires your investment. Please consider making your REALTOR® Action Fund contribution when possible. For more information, please contact your Government Affairs staff at(650) 696-8200.

Why NAR Supports Government Intervention

GoveRNMeNt AffAiRS updAteNovember 20083

November 20083

Strong AuthenticationRollout Began 10/16/08

On October 16th, the new Strong Authentication enhanced security program was rolled out to more than 3000 sub-scribers. The call center received only 20 calls in the first 24 hours of the program from subscribers who needed assistance. The gradual rollout will continue on a schedule that targets specific offices each week. The Outreach department supports the rollout with communications to office managers and individual subscribers. Additional infor-mation is available on the front page of pro.mlslistings.com.

In the meantime . . .All East Bay MLS’s Active in Reciprocal Access ProgramMLSListings subscribers can continue to take advantage of the interim Reciprocal Access Program announced in July through any of the 3 East Bay MLS’s: Bay East, Contra Costa AOR or EBRDI. There are some differences in fees and forms.

All information is available at:https://pro.mlslistings.com/info/east_bay_Access_program_0708.htmlYou must log in to MLSListings Pro, first.

overview: Through December 2008, all three MLS’s are offer-ing Limited Access MLS Membership to MLSListings subscrib-ers for a one-time access fee that varies between $49 and $55. This membership will allow real estate professionals to access the Paragon MLS system to search for East Bay listings. Please note: This program will not allow listing input. If you would like to enter listings, the respective MLS’s listing entry fee applies. No initiation/application fee will be charged.

For questions, please contact Bay East at (925) 730-4079, Contra Costa AOR at (925) 295-9200, or EBRDI at (925) 906-5200.

MLSListings, iNC. updAte

This week, MLSListings and Point 2 Technologies Inc. announced an agreement to provide automated listing syndication services to MLSListings’ nearly 19,000 subscribers. The partnership between MLSListings and Point 2 will enable brokers to distribute their listings to a network of over 35 real estate website

Cost of Plan Could Be LowerAdditionally, the cost of such a plan is likely to be below the figures that have been widely reported, Gaylord said.

As NAR Chief Economist Lawrence Yun has explained, there is a very good chance that taxpayers will reap a positive return on this investment over the long term.

“Today, I ask all of you to help us resolve this crisis,” Gaylord said.

remINDer!Code of Ethics Training

Deadline isDecember 31, 2008

SF, BAREIS, MetroList & MLSListingsConfirm December 15th Target Date

destinations, such as: Google, Craigslist, Point2 Homes, Cyberhomes, AOL, Yahoo!, Trulia and Zillow.

This is an “opt-in” service that is being provided by MLSListings. Syndication of listing content is free for participants in the system. There

are additional fee-based services that brokers and/or agents can optionally purchase.

The service is scheduled to go live during the fourth quarter of 2008.

If the broker/agent is interested in implementing a listing syndication solution, have them send an email to syndication@mlslistings.com. More information about this program will be posted on the web site shortly.

MLSListings Signs Agreement forLiStiNG SyNdiCAtioN optioN

The original four MLS’s involved in the largest data-share initiative in Northern California, issued a press release this week committing to a December 15, 2008 target date to complete their free reciprocal access program. Real estate agents and brokers who belong to any one of the four MLS’s will be able to sign-on to their primary MLS and through the secure single sign-on process go directly to any

of the participating MLS’s. When the data-share initiative is launched, it will initially serve 54,700 brokers and agents from 19 Northern California counties and cover a market area of more than 29,000 square miles with a population of 8.7 million. With the addition of three East Bay MLS’s in 2009, the data-share will grow to 70,000 brokers and agents.

November 2008 4

CAR updAteS

The C.A.R. Board of Directors and more than 35 Committees that research and formulate policy on all areas affecting the business, professional practices and public policy involvement of California REALTORS® meet three times a year throughout the state.

The Directors met two weeks ago, in Long Beach. SAMCAR Directors have submitted the following reports to keep you apprised of the issues and action items discussed. Please note there are numerous Committees, but not all have items for reporting.

Common Interest DevelopmentMembers should be advised that through CAR, there is a Q&A regarding CIDs, as well as an HOA Guide for REALTORS®. These are available on the CAR web site: www.car.org.

Hot issues to watch in 2009: (1) an owner’s right to rent individual condominium units; and (2) hardships re: use restrictions.

Department of Real EstateCurrently, there are 537,000 licensed agents in California. One in every 57 people has a license. That means there are 2 agents for every licensed attorney in the state! Enforcement actions are increasing as e-licensing has helped to free up DRE employees who can focus on other work.

The DRE has created a loan modification program that connects lenders with distressed homeowners. Through the program, many homeowners are able to have their loans renegotiated on the spot. The DRE has also created an REO toolkit, available on the Department’s website: www.dre.gov.

Equal OpportunityHUD still sends out “testers” into the market, to determine if discrimination in both sales and rentals, still occurs. Anyone involved in property management is encouraged to

establish a written policy regarding equal opportunity laws related to renting.

Pursuant to the Housing and Economic Recovery Act of 2008, the new, increased FHA and GSE loan limits will go into effect on January 1, 2009 in high-cost areas such as San Mateo County.

FIRPTA: Sellers will now have the option of providing FIRPTA directly to closing entity or escrow office.

NAR: Predatory lending and discrimination in renting and selling are issues of importance to the real estate industry, now more than ever.

Federal IssuesCAR will support the reforming of the rules for owner occupancy ratios of Common Interest Developments under the current FHA, GSE, CalVet, and VA programs.

LegislativeCAR Board of Directors voted to approve supporting Proposition 12, which will provide $900 million in general obligation funds to provide funding for California VA home loans. The bond will provide for 3600 loans.

Manufactured HousingThere were two items discussed, but no action yet taken:

Adding a tutorial for CAR Manufactured Selling SpecialistsDeveloping a Manufactured Selling Specialist designation

MLS & Business TechnologyCombination lockboxes, instead of electronic key safes, are being placed on many listings, especially REOs. Some MLS committees have rules, so be sure to review the applicable rules, as some require both.

•

•

Executive Summaryof CAR Directors

November 20085

C.A.R.’sOpen Enrollmentis Starting Now!Coverage begins January 1Open Enrollment ends November 30

RealCare is the only endorsed healthcare broker or C.A.R. and has been since 1996.

We can be reached at(800) 939-8088 Ext 202Visit us online at:

www.realcare.biz/oe

Avoid the rush by calling RealCare now! Remember, your annual medical plan deductible starts January 1. So can your coverage under the C.A.R. medical program - if you enroll before November 30.

At RealCare you aren’t limited to requesting an online quote. We provide friendly, personal assistance during your selection process, and all year round. You can get an online quote at www.realcare.biz/oe or you can call one of our agents for help.

Eligible C.A.R. members have 5 plans from Blue Cross of California and 8 plans from Kaiser to choose from. Remember, Open Enrollment closes November 30. Call now to avoid the last minute rush.

The CALMLS should have a vendor within the next 60 days, with the first conversion to start possibly in February of 2009. The conversion will take 24 months to complete. Some areas will have a hybrid MLS.

The Department of Justice settlement is in the public comment phase, which will be published shortly. The new rules will be available in January.

Political AffairsGrassroots involvement has increased. The Political Activities Fund has allocated substantial monetary resources towards member mobilization and involvement.

NAR has set a goal of raising $10,000,000 for RPAC (REALTOR® Political Action Committee). To date, $8,000,000 has been raised. CAR has contributed over $2,000,000 to RPAC! The money collected is used to support candidates at the federal level. Of the 67 candidates supported, 65 won. NAR participated in 10 independent expenditure campaigns, and 8 of those candidates assisted by these campaigns, won. All 52 congressional candidates supported, also won.

Professional StandardsCAR will adopt a procedure, to be drafted by staff, to allow local associations to appoint an Ethics Advocate Subcommittee, whose members would assist parties to a disciplinary complaint through the process, by helping with paperwork and representing the party at hearing, at the option of the party. This is subject to final approval from NAR.

Real Estate FinanceCAR, in conjunction with NAR, will support reform of seller-funded down payment assistance programs that provide benefits to consumers, including housing counseling, and ensures the safety and soundness of FHA.

CAR will support removing the GSE’s cap on the number of loans for non-owner occupied borrowers of 1-4 units.

Risk ManagementA list of Best Practices discussed in the Committee will be published shortly.

TaxationTax policies and laws pose significant impacts upon real estate. Decisions regarding tax breaks or costs can be a vital consideration when deciding to purchase an investment property or whether one can afford their principal residence.

As such, a number of issues were discussed in committee, but no action has yet been taken. These issues included: mortgage interest deduction; capital gains exclusions; deduction of real estate taxes; estate tax; death basis step-up; reverse mortgages; tenant improvement depreciation; small business expenses; business expenses deductions; health insurance deduction; and like-kind exchanges.

CAR updAteS November 2008 6

Classes & Events

Weekly Education, Events & Tour CalendarNOVEMBER 2008

November 199:30 – 11 a.m.

PENiNsula legislative Committee MeetingMembers welcome to attend these monthly meetings.Location: SAMCAR, 850 Woodside Way, San Mateo

November 610 a.m.

PaCifiCa legislative Committee MeetingLocation: Old Republic Title in Pacifica Linda Mar

November 1210 – 11 a.m.

COastsidE legislative Committee MeetingLocation: RE/MAX Dolphin Half Moon Bay, Conference Room

Legislative Committee Meetings

SAMCAR Board of Directors Meetings

November 268:30 a.m.

saMCaR Board of directors MeetingMembers welcome to attend these monthly meetings. | Location: SAMCAR

November 208 a.m. – 5 p.m.

GRi 107: technology applications in Real EstateLocation: SAMCAR| Cost: $149Registration: http://www.eDesignations.com or 888-785-4800

December 118 a.m. – 5 p.m.

GRi 108: GRi Risk Management Location: SAMCAR| Cost: $149Registration: http://www.eDesignations.com or 888-785-4800

November 101:30 – 4:30 p.m.

REVEi Ethics Video @ saMCaR | Cost: $20 | Register: 650-696-8200Satisfies the mandatory NAR Quadrennial Ethics requirement + DRE Credit

November 171:30 – 4:30 p.m.

REVEi Ethics Video @ saMCaR | Cost: $20 | Register: 650-696-8200Satisfies the mandatory NAR Quadrennial Ethics requirement + DRE Credit

November 241:30 – 4:30 p.m.

REVEi Ethics Video @ saMCaR | Cost: $20 | Register: 650-696-8200Satisfies the mandatory NAR Quadrennial Ethics requirement + DRE Credit

November 17101 / 10 – 11:30 a.m. 102 / 1:30 – 3:30 p.m.

Mlslistings 101(essential) and 102(advanced) seminar trainingLocation: SAMCAR | Registration: 650-696-8200

November 11ALL DAY

saMCaR Office Closed for Veterans’ day / NO tOuRThe SAMCAR Office will be closed all day in observance of the Veterans’ Day Holiday. There will not be a Tuesday Tour.

November 27 & 28ALL DAY, both days

saMCaR Office Closed for thanksgivingThe SAMCAR Office will be closed all day in observance Thanksgiving. SAMCAR will resume normal business hours on Monday, December 1.

November 47 a.m. – 8 p.m.

Presidential General Election: Make your REALTOR® Voice Heard and Vote!REALTOR® Voter Guide: http://www.samcar.org/userfiles/file/VOTE08_SAMCAR.pdfSan Mateo County Election Site: http://www.shapethefuture.org

Marketing MeetingsTuesday, November 4

MLS Tour Sheet Deadline Reminder

Broker/Property toursTuesdays 9:30 a.m. – 1:30 p.m.

Deadline to add tours in MLSMondays, 11 a.m. Entry deadlines are subject to change for holidays.

Deadline for Monday holidaysprior Friday at 11 a.m.

View tour sheet by Monday afternoonhttp://www.samcar.org/index.cfm/tour_information.htm

OCTOBER 31 – NOVEMBER 7

Su Mo Tu We Th Fr Sa26 27 28 29 30 31 0102 03 04 05 06 07 08

8:30 a.m. November Combined TourElks Lodge 229 West 20th AvenueSan Mateo

Presentation: Anne LAnphAr, esq.,Vice President & General Counsel,First American Professional Real Estate Services, Inc.,/JCP-LGS Disclosures

RESPA: The REAL Property Hazardof the 21st Century

9 a.m. Half Moon Bay TourCommunity Center 535 Kelly AvenueHalf Moon Bay

9:30 a.m. Pacifica TourCommunity Center 540 Crespi DrivePacifica