1

ArcadiaREALTOR®The Official Publication of the Arcadia Association of REALTORS®

VOL. 16, NO. 9WWW.THEAAR.COMSEPTEMBER 2012

C.A.R. REALTOR®

EXPO -Free Closing

Luncheon for Military

MembersSee page 12

See page 9

Arcadia Relay

for Life 2012

See page 8

2

Arcadia Association of REALTORS®601 South First Avenue

Arcadia, California 91006626.446.2115

626.446.4072 FAXwww.TheAAR.com

2012 ASSOCIATION OFFICERSRyan Asao {President}

Andy Bencosme {President-Elect}Mike Vachani {Vice-President}

Jill Nelson {Secretary/Treasurer}

2012 ASSOCIATION DIRECTORSMargaret Garemore

Jeanne KeatingJohn Lee

Paulina LeeGeorge MonteJoseph PacilioSylvia Ramos

Irene YamagataNick Zigic

2012 C.A.R. DIRECTORSRyan Asao

Andy BencosmeJeanne Keating

Paulina LeeGeorge MonteRichard StoneRandall Traw

Mike VachaniKelvin Wong

Nick Zigic

ARCADIA ASSOCIATION STAFF We are here to help you with your needs! Office Phone 626.446.2115

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

Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com Brenda Faltes Ext. 304 Director of MLS Data Integrity, Supra & Social Media Brenda@TheAAR.com Stephanie Maertens Ext. 303 Director of Education, Publications & MLS Caravan Stephanie@TheAAR.com

Maria Roberts Ext. 305 Director of Membership & Professional Standards Maria@TheAAR.com Jane Shriver Ext. 301 Director of Association Services Jane@TheAAR.com

Andrew Cooper Ext. 308 Executive Vice President Andrew@TheAAR.com

{ Arcadia REALTOR® | September | Two Thousand and Twelve | Volume Sixteen | Number Nine}09.12

ArcadiaREALTOR®

September 2012

REGULAR FEATURES

4 Events Calendar

4 From the EVP’s Desk Andrew Cooper, Executive Vice President

5 Attorney Comments Dave Freeman, AAR Legal Counsel

6 Market Matters

10 Tech Talk “5 Ways to Use Online Collaboration Tools” Glenn Bray, N.A.R. REALTOR® Magazine

11 Affiliate Corner “Supplemental Taxes Do Not Have to be a Surprise” Diana Rafeedie, North American Title Company

3

ON THE COVER8 Arcadia Relay for Life 2012 A look at the recent American Cancer Society event to fundraise towards the fight against cancer.

9 September is REALTOR® Safety Month Ensure that you stay safe when working with clients and those you don’t know. Read a list of helpful tips to assist you in staying safe during your open houses.

12 C.A.R. REALTOR® EXPO - FREE Closing Luncheon for Military Members This luncheon is being offered free to currently active members of the military and those who have been active at one point. This fantastic event will have special guest speaker, J.R. Martinez.

ADDITIONAL CONTENTS3 Public Relations Committee Learn to embrace the success that comes your way!

7 AAR New Members The AAR welcomes its newest REALTOR® members.

8 Education Committee “Understanding the Impact of the Economy and the Stock Market on Real Estate” A look at the recent course held at the AAR. The course received a packed house and will be brought back by popular demand early next year.

8 Commercial / Investment Committee “Commercial Mixer” A recap of the recent free mixer offered by the AAR Commercial Committee.

9 C.A.R. Expo in Anaheim (October 2-4) Save the date! The California Association of REALTORS® Expo is rapidly approaching! This year, the Expo will be held in Anaheim.

Arcadia REALTOR® Magazine3

411 E. Huntington Dr. Suite 101 B, Arcadia CA 91006 Phone: 626-446-2401 Fax: 626-446-2362

Ready for a Stress-Free Closing????

Let the Contempo Escrow Team show you how easy it can be!! Short Sales Bulk Sales ABC License Transfers Commercial Residential Refinance Mobile Homes Contempo Escrow’s educated, friendly and proficient team will provide the best escrow services available to you and your clients! Open your next escrow with us, and experience the

Contempo Difference!!

Amy Choy Escrow Officer

Teresa L. Shaver Certified Sr. Escrow Officer

PUBLIC RELATIONS COMMITTEEBy Hugo Torres, Committee MemberI speak with dozens of REALTORS® every week and we typically compare notes about the state of their current economy, the local market and where things may be headed in the months to come. For several years now, we’ve developed a “gallows humor” take on the current state of things and have often joked and/or competed for who has had it worse or taken the longest fall from the pedestal.

Recently though, as news reports and stats come in from those who measure everything, the positive trends are beginning to spur the momentum we all need to accomplish the visions we set for ourselves when we first entered the industry.

It’s interesting to me though, that many of my colleagues are still speaking shyly about their recent successes and some just don’t want to talk about them at all. It feels as if they think that in embracing accomplishment they will somehow  erode it. Or perhaps, they have grown accustomed to rumbling about their lot in life and it feels uncomfortable now to not have anything to harp about.

I cannot speak for anyone but for that assertive throng of professionals who have struggled and succeeded in this downturn. My recommendation is to batten down the hatches for the approaching better days. 

This is the ideal time to get rid of things not needed, shed antiquated processes, invest in the tools of the future and re-train how you discuss these changing times with today’s buyers and sellers. If you do this, you’ll merge into busier days ahead with ease and will be able to cope with growing business in a healthy way. Embrace the success that’s coming your way!

4

FROM THE EVP’S DESK

Adapting to Change

Over the last 4-5 years, everyone working in the real estate industry has experienced different levels of impact and change. We all have felt the changes and may have observed various

reactions from our peers due to these industry changes. While our wonderful industry is definitely on the upswing, some may still be harboring feelings of negativity and uncertainty, while others are choosing an optimistic and positive view. It’s important to know there is no “right” way to respond to change. Change is everywhere, it occurs every day and it directly affects every one of us. Some may require more time to adapt than others. It is understood that each situation is unique, but it is critical that we stay focused and productive.

Reacting to change is a process that consists of 4 stages:

Resistance: struggling to avoid the change

Transition: accepting that the change will happen

Integration: making the change part of ourselves

Contentment: being satisfied with the “new way”

Following are important things to remember when adapting to change:

• The time it takes to move through one stage to the next will vary. It may take hours, days, months, or years, depending on the magnitude of the change.

• Individuals may move through the stages at different speeds, depending on their understanding of the change, its impact on their work, and past experience with change.

• Sometimes the stages will not be completed before another change occurs. For some, this disruption may cause heightened levels of stress.

• Moving through these stages occurs even when the change is interpreted as positive right from the beginning.

Author George B. Shaw summed it up best when he said:

“It’s not what happens to you that matters,what matters is what you do with what

happens to you.”

Andrew CooperExecutive Vice-President

3 AAR Closed Labor Day

4 10:00 a.m. - Global Real Estate Committee Mtg.

5 8:30 a.m. - MLS Caravan 9:30 a.m. - Events 4 Charity Committee Mtg.

6 9:30 a.m. - Commercial Committee Mtg. 11:00 a.m. - Commercial Marketing Mixer 11:30 a.m. - PEPster Luncheon

7 9:00 a.m. - 10:00 a.m. - “Laughter is the Best Weapon” Crime Awareness Seminar 12:00 p.m. - 1:30 p.m. - Toastmasters

10 8:30 a.m. - 11:30 a.m. - “Property Management by the Agent”

11 11:00 a.m. - Tech Committee Mtg. 1:30 p.m. - CRMLS Operations Mtg.

12 8:30 a.m. - MLS Caravan 8:45 a.m. - Affiliate Committee Mtg. @ Masonic Center 9:30 a.m. - MLS Committee Mtg. 3:30 p.m. - Equal Opportunity / Housing Affordability Committee Mtg.

13 10:00 a.m. - 12:00 p.m. - “Conflict Resolution” Class

14 10:00 a.m. - 12:00 p.m. - CRMLS Training

17 9:00 a.m. - 3:00 p.m. - CRMLS Training 10:00 a.m. - CRMLS Association Executive’s Mtg.

18 10:00 a.m. - Zipforms Training 2:00 p.m. - Education Committee Mtg.

19 8:30 a.m. - MLS Caravan 9:30 a.m. - Public Relations Committee Mtg. 1:00 p.m. - Ethics Video 1:30 p.m. - Local Government Relations Committee Mtg.

20 11:00 a.m. - 12:00 p.m. - Lunch & Learn Series “Probate Listing and Personal Estate Planning: A Lawyers Perspective” 1:30 p.m. - CRMLS Finance Mtg. 6:30 p.m. - 9:00 p.m. - Commercial Class

21 9:00 a.m. - 11:00 a.m. - “Sexual Harrassment” Class 12:00 p.m. - 1:30 p.m. - Toastmasters

24 8:00 a.m. - 5:00 p.m. - Certified International Property Specialist Designation @ DoubleTree Hotel 8:30 a.m. - New Member Orientation 12:00 p.m. - CRMLS Board of Directors Mtg.

25 8:00 a.m. - 5:00 p.m. - Certified International Property Specialist Designation @ DoubleTree Hotel 1:30 p.m. - Budget and Finance Committee Mtg.

September 2012

September Events Calendar

4

26 8:00 a.m. - 5:00 p.m. - Certified International Property Specialist Designation @ DoubleTree Hotel 8:30 a.m. - MLS Caravan 8:30 a.m. - New Member Induction 9:30 a.m. - Young Professionals Network Committee Mtg.

27 8:00 a.m. - 5:00 p.m. - Certified International Property Specialist Designation @ DoubleTree Hotel 12:00 p.m. - Transnational Referral Certification @ Doubletree 5:00 p.m. - Global Networking Mixer @ Doubletree Hotel

28 8:00 a.m. - 5:00 p.m. - Certified International Property Specialist Designation @ DoubleTree Hotel 8:30 a.m. - AAR Board of Director’s Mtg.

5

Andrew CooperExecutive Vice-President

AttorneyComments

By Dave Freeman, Association Counsel

August 2012

1. DUTY OF INSPECTION – LISTING AGENT ONLY?: Recently a case highlighted the Civil Code Section 2079 and its subsections which basically state that:

A listing agent or a selling agent has a duty to conduct a reasonably competent and diligent visual inspection of the property and to disclose to the buyer all the facts materially affecting the value of the property that such an investigation would reveal.

There is a two year statute of limitations from the date of buyer’s possession to file an action concerning this issue. During the period of the listing, a brown paint coat was applied to the exterior of the stucco to conceal water intrusion damage. The buyer sued the listing broker for breach of contract, negligence and fraud. The Appellate Court allowed the case to proceed, in spite of the above-mentioned statute of limitations and the fact that the time had passes. The Court ruled that the statutes don’t begin to run until the discovery of the cause of action or damage. The important point here is: Do the proper inspections, and disclose to the buyer, in writing, those things that you know or discover during the inspection. Don’t rely on statutes of limitations, for the Court will frequently find ways to extend those periods.

2. STATUTE OF LIMITATIONS – NEGLIGENCE – RARE OCCURANCE: In this case, the Appellate Court actually upheld

the two year statute of limitations in a case against a real estate agent, thereby preventing the case from proceeding. The seller had given the buyer options to buy more lots in the same general location where the buyer bought a couple of lots. Then the seller refinanced the remaining property, granting those same options on those same lots to the lender with whom the seller refinanced. While the buyer was successful in defending the lawsuit against the lender in the fight over who owned the options, the buyer sued the listing agent for negligence. The buyer claimed that the listing agent should have prevented the seller from granting those options to the lender, and should have helped the buyer to defeat the lender in the lawsuit. In this case, the Appellate Court did uphold the two year statute of limitations, stating that the buyer obviously had to have discovered the negligence, if any, at the time the lender sued for title to the options, which was greater than two years before the buyer sued the listing agent for negligence. I can’t give you great words of advice in this case, as the buyer had no good reason to sue the listing agent to begin with.

3. ANTI-DEFICIENCY SUITS: Two different Appellate Court cases came down recently defining two similar but different cases of when a foreclosed out junior lender can sue a borrower after the first forecloses, thereby wiping out the second or junior Trust Deed holder.

A. After a single lender makes two non-purchase money loans,

secured by two Deeds of Trust on the same property, and shortly thereafter assigns the junior loan (Note and Trust Deed) to another entity/ender the assignee of the junior loan can sue the borrower directly for the deficiency owed, if the senior Trust Deed holder forecloses, thereby wiping out the junior Trust Deed holder. This does not violate the anti-deficiency statutes.

B. In a similar situation, but where the lender who made two contemporary loans on the same property does not sell or assign the junior loan to another entity until after foreclosing on the first Trust Deed, the assignee/holder of the junior Trust Deed is barred from suing the borrower on the deficiency.

To clarify the situation: The only difference is when the second/junior Trust Deed is assigned, before or after the first forecloses.

Arcadia REALTOR® Magazine5

DON’T MISS WHAT’S COMING!For more

information on these classes and more, visit www.TheAAR.com and click

“Upcoming Events”

6

MarketMatters

Market Statistics for the San Gabriel ValleySingle Family Homes Condominiums SFR Only

City Zip Code

Sales of Single Family

HomesPrice Median SFR ($1,000)

Price % Chg from July 2011

Sales Count

Condos

Price Median Condo

($1,000)

Price & Chg from July 2011

Median Home Price/

Sq. Ft.Alhambra 91801 13 $549 9.7% 12 $328 -11.2% $347Alhambra 91803 11 $425 3.7% 4 $238 -47.8% $247Altadena 91001 32 $465 5.7% 1 $290 -48.8% $347Arcadia 91006 26 $801 -0.6% 4 $582 7.2% $385Arcadia 91007 19 $968 11.5% 16 $399 -18.4% $449Azusa 91702 32 $265 -3.1% 9 $206 -6.6% $194Duarte 91010 18 $315 3.3% 2 $156 -53.2% $259El Monte 91731 6 $251 -25.2% 1 $249 n/a $265El Monte 91732 17 $270 8.0% 10 $318 22.1% $202El Monte - South 91733 4 $243 8.5% n/a n/a n/a $196Glendora 91740 23 $339 -9.8% 2 $275 n/a $246Glendora 91741 26 $502 9.1% 5 $380 19.9% $272La Cañada Flintridge 91011 19 $954 -10.0% n/a n/a n/a $474La Verne 91750 17 $440 7.3% 1 $136 -66.0% $260Monrovia 91016 32 $423 -14.6% 11 $335 21.8% $344Pasadena 91101 n/a n/a n/a 16 $395 4.8% n/aPasadena 91103 16 $333 -40.6% 5 $425 10.2% $266Pasadena 91104 35 $553 10.4% 2 $430 79.2% $379Pasadena 91105 14 $1,050 15.1% 7 $580 -11.0% $488Pasadena 91106 9 $930 -52.8% 20 $395 -0.1% $528Pasadena 91107 19 $638 6.3% 7 $530 51.4% $372Rosemead 91770 23 $352 0.1% 4 $284 -23.7% $318San Gabriel 91775 14 $618 -8.2% n/a n/a n/a $358San Gabriel 91776 8 $477 14.1% 2 $320 -2.4% $367San Marino 91108 20 $1,775 41.4% n/a n/a n/a $621Sierra Madre 91024 7 $878 38.8% n/a n/a n/a $395Temple City 91780 19 $539 -2.4% 3 $500 0.5% $340

Source: DQNews.com

July 2012

September 2012

7Arcadia REALTOR® Magazine

(626) 831-8862www.morrisoninspects.com 7

AAR New MembersThe Arcadia Association of REALTORS® would like to formally welcome our newest REALTOR® members!

AAR new members with Membership Committee Vice Chairman, Cindy Shiao and Committee Chairman, Sylvia Ramos are (in no particular order): Zhi Ling Li, Coldwell Banker George; Connie Shiau, Coldwell Banker George; Melissa Wang, Coldwell Banker George; Qichen Guo, Highland Real Estate; Jie Liu, Highland Real Estate; Li Zhang, Highland Real Estate; Calvin Chu, IRN Realty; William Madain, IRN Realty; Wenhuan Wang, IRN Realty; Michelle Escquivel, Keller Williams West Foothills; Jarubut Lapboriboon, Keller Williams West Foothills; Jack Liou, Keller Williams West Foothills; Bin He, Long Dragon Realty; Xiao Feng Xu, Long Dragon Realty; Eddie Newman, Prudential California Realty and Peter Wong, Re/Max Omega.

8

Arcadia Relay for Life 2012

EDUCATION COMMITTEE“Understanding the Impact of the Economy

and the Stock Market on Real Estate”The AAR Education Committee recently held a course on “Understanding the Impact of the Economy and the Stock Market on Real Estate”. Instructor, Ray Kay, SearchLight Financial Advisors, helped those who attended to understand where we are in the real estate cycle, time-tested tips to effectively market yourself, understand interest rates, a forecast of the economy and much more. This course was received by a packed room of attendees. A special thank you to our sponsor, Mary Kay, Advanced Group Property Inspection Company who provided a wonderful continental breakfast for those who attended.

The speakers and sponsor are (L to R): Caroline Grace Rakness, SearchLight Financial Advisors; Ray Kay, SearchLight Financial Advisors; Mary Kay, Advanced Group Property Inspection Company and Adam Strauss, SearchLight Financial Advisors.

COMMERCIAL / INVESTMENTCOMMITTEE

“Commercial Mixer”The AAR Commercial/Investment Committee recently held its monthly Commercial Marketing Mixer at the AAR building. This month featured an informative session on “Environmental Engineering and Land Surveying Due Diligence” with Ali Azimi, Vice President, America West Real Estate Services and Adam Bennett, Regional Director, AEI Consultants. In addition to offering tons of great important information, lunch was also provided by Jon Wax, America West Real Estate Services for those who attended.

Members of the Commercial/Investment Committee with the speaker and sponsor are (L to R): Mike Vachani, Committee Chairman; Fred Madjar, Nick Zigic, Julie Arballo, Jon Wax, Roy Blume, Adam Bennett, AEI Consultant; Tim Johnson and Ali Azimi, America West Real Estate Services.

September 2012

On June 25th and 26th, the AAR Relay for Life team headed out to Santa Anita Park to raise money and awareness for the American Cancer Society. The idea is that each team has a member walking (or running) around the track at all times for one 24-hour period.  The entire Arcadia community got involved and many local business sponsored the event. Plenty of AAR members and their families and friends were out showing their support!

In addition, many booths had their own raffles, treats, or activities for sale to raise money. All in all, the Arcadia Relay event raised over $88,000 for the American Cancer Society. Much thanks and gratitude to everyone who participated in the event!

Celebrating More Birthdays!!

PHOTOS COURTESY OF DAVE ORELL, AGENT PHOTOS ONLINE

AAR Affiliate member, Tony Moon with his wife, Alexis and children, Sydney and Marcus.

REALTORS® from Century 21 Earll, Ltd. supporting the fight against cancer are (L to R): Joe Pacilio, Terry

Earll, Ryan Earll and Victoria Pyle.

April Kass, LaRocca Inspection Company entertains the attendees by singing “God Bless America” at the

opening ceremonies.

9

You meet lots of people in the real estate business—some nice and some not so nice. Learn how to protect yourself at open houses and in the car. The keys to REALTOR® Safety are knowledge, awareness, and empowerment. The Arcadia Association of REALTORS® and the National Association of REALTORS® would like to offer you some tips and tools you can use to keep safety top-of-mind.

10 Tips for Holding a Safe Open House

Open houses can be a great sales tool—but hosting one also exposes you to numerous unfamiliar people for the first time. Take these steps to stay safe:

1. If possible, always try to have at least one other person working with you at the open house.

2. Check your cell phone’s strength and signal prior to the open house. Have emergency numbers programmed on speed dial.

3. Upon entering a house for the first time, check all rooms and determine several “escape” routes. Make sure all deadbolt locks are unlocked to facilitate a faster escape.

4. Make sure that if you were to escape by the back door, you could escape from the backyard. Frequently, high fences surround yards that contain swimming pools or hot tubs.

5. Have all open house visitors sign in. Ask for full name, address, phone number and e-mail.

6. When showing the house, always walk behind the prospect. Direct them; don’t lead them. Say, for example, “The kitchen is on your left,” and gesture for them to go ahead of you.

7. Avoid attics, basements, and getting trapped in small rooms.

8. Notify someone in your office, your answering service, a friend or a relative that you will be calling in every hour on the hour. And if you don’t call, they are to call you.

9. Inform a neighbor that you will be showing the house and ask if he or she would keep an eye and ear open for anything out of the ordinary.

10. Don’t assume that everyone has left the premises at the end of an open house. Check all of the rooms and the backyard prior to locking the doors. Be prepared to defend yourself, if necessary.

Join us to learn more REALTOR® Safety tips on September 7, 2012 from 9:00 a.m. to 10:00 a.m. in the AAR building for a comedic Crime Awareness Seminar entitled “Laughter is the Best Weapon”. This course is FREE (with a $10 refundable deposit). Register online by visiting www.TheAAR.com and click on the course title under “Upcoming Events”. You can also register by calling the AAR at (626) 446-2115.

The National Association of REALTORS® is also offering a free REALTOR® Safety Websinar entitled “REALTOR® Safety Series: Are You and Your Data an Easy Target?” on Monday, September 17, 2012 at 8:00 a.m. You can access the link to the webinar by visiting www.TheAAR.com and clicking on “Upcoming Events”.

September is REALTOR® Safety Month!Article provided by the National Association of REALTORS®

10September 2012

10

Tech.TalkBrokerages and real estate professionals can benefit from Web-based platforms that allow them to meet with colleagues and consumers in cyberspace.

Real estate was one of the first industries to be disrupted by the rise of the Internet, and most successful practitioners have long appreciated the importance of successfully integrating the Web into their practice.

At first, that meant simply having a Web presence, in the form of a personal or business site, social networking profile, blog, or some combination of these. Next came things like video home tours and online resources for local markets.

The latest real estate–related Web frontier involves collaboration tools, especially video conferencing via webcams that are now built into many laptops, tablets, and smartphones. In today’s connected world, home buyers and sellers expect information to be accessible anywhere, anytime.

Online collaboration tools are an easy, effective way to make that happen. They let you not only see and speak with the person on the other end, but also use the software to share materials like PowerPoint presentations between the two devices, so that each person is looking at the same thing.

Here are five ways that online collaboration tools can help real estate brokerages and professionals build strong client relationships.

1. Face time: In the early stages of a relationship, nearly every real estate pro prefers an in-person meeting to a phone call. (And a meeting is certainly preferred over a series of e-mail exchanges.) When it’s impossible for the two of you to get together under the same roof, perhaps for reasons related to scheduling or physical distance, a video conference is the next best thing to being there. These days, nearly everyone uses video conferencing to keep in touch with relatives during the holidays or on birthdays. That means your clients will probably be familiar with it before you even suggest it.

2. Listing presentations: Sending off e-mail blasts showing your latest listings doesn’t always move the meter with consumers. A more effective approach might be to set up an interactive session where you can control a presentation visible on both your desktop and your client’s. You can walk them through listings,

5 Ways to Use Online Collaboration ToolsBy Glenn Bray, N.A.R. REALTOR® Magazine

Log onto: www.designescrowcorp.com

We have Spanish, Cantonese, Indonesian, Vietnamese and Mandarin speaking employees to assist you and your clients.

128 East Huntington DriveArcadia, CA 91006

626.445.6137

We are members of the:

arcadia association of realtors

California escrow association

escrow associates ofsan Gabriel Valley

american escrow association

National Notary association

Pasadena - foothill association of realtors

Specialize in:Bulks,

Short SalesCommercialShortpays

REO’sExchangesResidential

andLoans

esign Escrow is beginning our 20th year of doing business! Our staff of 6 escrow officers, a full time messenger and a supporting staff of 6, are

committed to the successful timely completion of your transaction.

“It’s our people that make the difference.”

Our team is expert in all aspects of conveyance including: Residentialand Commercial Real Estate Sales, Exchanges, Loans & Refinances,Business Opportunities & Probate Sales, Short Sales and R.E.O.’s .

D

We offer Five Languages &Full time In House Messenger

standing (left to right): Yolanda Vidales, Julie Nguyen, Kai Wu, Jackie Ramos, Liem Ho, Janet Cerswell, Suzie Archuleta, Luly Goodman, Jojo Ongsitting (left to right): Terri Fabbri, Alexis Ostensen, Kay Gass, Shelley Malicek

Design Escrow, Inc.

Standing (left to right): Yolanda Vidales, Julie Nguyen, Kai Wu, Jackie Ramos, Liem Ho, Janet Cerswell, Suzie Archuleta, Luly Goodmand and Jojo OngSitting (left to right): Terri Fabbri, Alexis Ostensen, Kay Gass and Shelly Malicek

128 East Huntington DriveArcadia, CA 91006

626.445.6137

20 Years of Doing Business and Providing Great Service!

We are members of the: • Arcadia Association of REALTORS® • California Escrow Association • Escrow Associates of San Gabriel Valley

• Amercan Escrow Association • National Notary Association • Pasadena - Foothill Association of REALTORS®

Standing (left to right): Yolanda Vidales, Julie Nguyen, Kai Wu, Jackie Ramos, Liem Ho, Janet Cerswell, Suzie Archuleta, Luly Goodmand and Jojo Ong.Sitting (left to right): Terri Fabbri, Alexis Ostensen, Kay Gass and Shelly Malicek

128 East Huntington DriveArcadia, CA 91006

626.445.6137

Known for the integrity of our intent and quality of our actions, we have the confi dence to do what is required, the courage to move the process along to

successful completion, and the compassion to listen to needs of all parties involved.

Design Escrow, Inc.

(Continued on page 11)

1111Arcadia REALTOR® Magazine

“Supplemental Taxes Do Not Have to be a Surprise!”

By Diana Rafeedie, North American Title Company

Affiliate Corner

Supplemental Taxes represent the difference between the new assessed value and prior assessed value on the tax roll.  When a Title Company issues a Preliminary Title Report, Schedule B within that report includes details regarding any taxes currently due and an indication that there could be

supplemental taxes forthcoming.  Most new owners are concerned about Supplemental taxes when they close escrow.  In addition, most clients are not aware that when they close escrow in the window from January 1st through May 31st they will receive two Supplemental tax bills: 1. The first supplemental represents the difference in value which affects the current fiscal tax bill that was issued in October of the previous year, and whose second half covers January 1st through June 30th. The amount will be prorated for the number of months remaining for that fiscal year. 

2. The second supplemental reflects the increase for the new tax bill that will be issued in October of the current year,

which is for the next fiscal year. The new tax bill issued in October will reflect the prior values, which is the reason for the second supplemental. The Assessor›s office now has an Estimator on their website, so the new owner, escrow officer, title officer, lender or REALTOR® can put in the address of the subject property and the new purchase price and it will generate the estimated taxes that will be due.  I have included a link for your convenience: http://assessor.lacounty.gov/extranet/guides/SuppTaxCalc.aspx. Prior to the close of Escrow, the Title Company will “date down” or double check the tax records to make sure no further taxes have become due as Tax issues represent the greatest source of day to day losses we suffer as an industry. Please share this information with your buyers so they are not surprised when they receive these bills.  For further Tax information, please contact your local assessor›s office or visit www.assessor.lacounty.gov. Thank you for considering me a partner in your business!

highlighting the strong points of the property and answering any questions they might have as they come up.

3. Virtual home tours: Collaborative presentations are especially useful with out-of-town clients. If someone is moving into your area and looking for a place to buy, their lack of proximity is no longer an obstacle to getting them to see a home. Meet online and show clients video tours to make sure you’re not losing precious time; as a result, they might be settled in a new home weeks or even months sooner than they would be otherwise.

4. Contract negotiations: For both buyers and sellers, negotiations over the final terms of a sale are perhaps the most nerve-wracking part of the entire real estate process. Even when the negotiations go relatively smoothly, both buyers and sellers can get nervous about what’s ahead. You can ease anxiety by meeting with clients in a video conference as you work through

details of offers and counter-offers.

5. Team meetings: It’s often hard for real estate professionals who work together — even those in the same office — to find the time to meet. With video conferencing, however, colleagues can log in anywhere, from any device, and have the chance to connect. They can share presentations, take meeting notes and even record conversations for later use.

There are a number of different tools for virtual meetings and collaboration available online. Real estate brokerages and practitioners would do well to add it to their professional arsenal.

Tech.Talk(Continued from page 10)

12

www.DownstreamExchange.com

909 East Green Street, Pasadena CA 91106-2930

Phone: (800) 743-1031Fax: (626) 796-8222

C. Anthony Phillips, CPA President

We Provide A Complete Service To Successfully Accomplish Tax Deferred Exchanges

®

Pre-Exchange Tax Planning

Accommodation of Tax Deferred Exchange

Post Exchange Tax Planning

Call for your free Exchange Tax Analysis

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

12

• Estate Planning• Trust Administration• Probate• Business Law• Commercial Transactions• Corporation, LLC & Partnership Formations• Business Contracts

Romy S. Rahmanian, Attorney

(626) 869-878737 E. Huntington Drive, Suite A • Arcadia, CA 91006

Call today for a free consultation

(626) 869-8787(626) 869-8787

romy@rahmanianlaw.com • www.RahmanianLaw.com

Dedicated to Providing High Quality Legal Services

(626) 869-8787

Call today for a free consultation

C.A.R. REALTOR® EXPO - FREE Closing LunCHeon for military members

At the C.A.R. REALTOR® Expo from October 2nd through 4th in Anaheim, the Closing Luncheon with guest speaker J.R. Martinez will honor C.A.R. members who are currently active or have been active at one point in the military.  C.A.R. is putting together a special presentation with photographs of these members to be shown at the luncheon. If you are a REALTOR® and are currently active or were previous active in the U.S. military please email a photo from your past or current military service to veterans@car.org.

Please include contact information in the email and any pertinent information that applies to the photo(s) such as years taken, years of service, branch, etc.   Remember, this luncheon is FREE for REALTOR® U.S. Military Members, but you MUST register for the EXPO and Luncheon. Please contact Betty Thomas at  (213) 739.8236 should you have any questions.