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The Silicon Valley Association of REALTORS® Global Business Council (SILVAR GBC) has been awarded the National Association of REALTORS® (NAR) PLATINUM Global Achievement Program Award for 2016. This is the fourth year in a row that SILVAR has been honored with this recognition.
The platinum award is presented by NAR to an association for having demonstrated through its Global Business Council exceptional commitment to building members’ awareness of the global and multicultural business opportunities in their local markets. SILVAR’s global business council is one of a select few Platinum Councils in the country.
NAR commended the hard work of the SILVAR GBC this past year and the dedication SILVAR has contributed to raising members’ awareness of global business in our local market, noting, “Your council has shown the highest level of service to its global members by consistently providing them with the tools they need to handle international real estate. The services and resources your council works hard to provide are the benchmarks upon which the standards have been set. It has been a pleasure watching your council perform so highly in 2016 and I can’t wait to see what 2017 has in store for you and your members!”
SILVAR GBC is chaired by Mark Wong, a REALTOR® with Alain Pinel REALTORS® Saratoga. This year the GBC presented programs on feng-sui, China, the EB-5 visa and an International REALTOR® Panel with REALTORS® from Japan, Iran, the United Kingdom and France. These programs were well-attended and oversubscribed.
In June, SILVAR conducted its fifth Certified International Property Specialist (CIPS) Institute with 2012 and 2009 NAR International Instructor David Wyant. The CIPS Institute had 17 students from the San Francisco Bay Area and Canada. Most of the students were SILVAR members. Nine students from the Institute earned their CIPS designation. At present, 52 SILVAR members are CIPS designees.
Additionally, as NAR’s Ambassador Association to the Philippines, SILVAR supports and maintains ties with the Chamber of Real Estate and Builders Associations, Inc. (CREBA), SILVAR’s cooperating association in the Philippines. SILVAR member and past GBC chair Jennifer Tasto is the NAR President’s Liaison to the country.
SILVAR will be presented the platinum award at the November 4-7 NAR REALTORS®’ Conference & EXPO in Orlando.
In view of the latest earthquake alert following a swarm of seismic activity in the Salton Sea on the south end of Southern California’s San Andreas fault, it is a good time to review earthquake safety measures.
The Silicon Valley Association of REALTORS® shares the following important earthquake safety measures from the Federal Emergency Management Agency (FEMA), California’s Department of Conservation and the U.S. Geological Survey:
Identify Potential Hazards in Your Home and Fix Them
- Move furniture away from where people sit, sleep, or spend a lot of time. Move heavy objects to lower shelves and secure hanging objects, cabinet doors and appliances with safety straps, fasteners and adhesives. Move flammable or hazardous materials stored in garages and utility rooms to low, more secure areas.
- Replace rigid gas connections to water heaters and other gas appliances with flexible (corrugated) stainless steel gas connectors. Excess-flow gas-shutoff valves for individual appliances will stop gas flow in case of a catastrophic leak.
Create a Disaster Supply Kit and Keep it in an Accessible Location
- First aid supplies, with medications not requiring refrigeration, including spare eyeglasses and essential hygiene items
- Drinking water (minimum one gallon per person per day)
- Whistle (to alert rescuers to your location)
- Emergency cash in small bills (ATMs may not work)
- Snack foods high in calories, canned and packaged foods and cooking utensils, including a manual can opener and food and a leash or carrier for your pet
- A working flashlight with extra batteries and/or light sticks
- Baby formula or powdered milk for infants, disposable diapers, baby wipes, bottles, pacifiers and comfort items for your children, like stuffed animals and other toys
- A battery-operated radio (and spare batteries)
- Warm clothing, gloves, sturdy shoes, extra socks, blankets/sleeping bags, dust masks
- Heavy-duty plastic bags for waste and other uses
- A-B-C type fire extinguisher
- Copies of vital documents, such as insurance policies, personal identification, medical consent forms for dependents
Replace perishable items like water, food, medication and batteries on a yearly basis.
Create a Disaster Preparedness Plan
Decide how and where your family will reunite if separated during a quake. Select an out-of-state friend or relative to call and alert other relatives and friends that you are all right.
During an Earthquake, Drop! Cover! and Hold On!
If you are indoors, drop to the ground, take cover by getting under a sturdy desk or table, or stand against an interior wall. Stay away from exterior walls and windows. If you are outdoors, stay clear of buildings and power lines. If there is no shelter nearby, cover your head and neck with one arm and hand. Hold on until the shaking stops.
If you are driving, move the car out of traffic and stop. Avoid parking under or on bridges or overpasses, or close to trees, light posts, signs and power lines.
If you are in a mountainous area, beware of the potential for landslides. If you are near the ocean, be aware that tsunamis are associated with large earthquakes, so get to high ground.
Nina Yamaguchi, managing broker with Coldwell Banker Residential Brokerage in Cupertino, shared prospecting tips with members at a recent Silicon Valley Association of REALTORS® Cupertino/Sunnyvale District tour meeting.
Yamaguchi said with market is changing. Inventory for the entry level market is tight and the luxury market is passed its peak. It is highly likely that the lack of inventory and a dip in sales because of it will continue.
“With that framework, it is more important than ever to get listings,” stressed Yamaguchi.
Here are some of her suggestions:
1. Don’t ignore expired listings. Check with the former listing agent about the status of the expired listing. There also are many internet sites that help find people for a fee, such as beenverified.com, peoplefinders.com. intelius.com and theredx.com.
2. Don’t ignore print. While online is popular, many people still like print, especially seniors. Silicon Valley has many senior residents. Advertise in the newspapers, send out Just Listed and Just Sold cards. Follow these up with a phone call or door knocking.
3. Tap your sphere of influence – friends, family, former co-workers.
4. Tap into your database of referrals and past clients.
5. Door knock in neighborhoods where a home has just sold, or send out “missed opportunity” mailings. It may interest neighbors to know that the house on their street sold at a good price.
6. Get with technology. Text a short video or a pre-listing presentation.
7. Use social media and post on Facebook.
8. Invite the neighbors to your open houses.
9. Farm around your successes.
10. Do the basics.
“All the basics still work,” said Yamaguchi. “You need to be consistent and show up.”
Yamaguchi said her top farmers do everything consistently, from sending out mailers, advertising in the newspapers, maintaining a strong internet presence, door knocking, to holding open houses every weekend.
“I’m a firm believer in open houses because they are a great way to get buyers and sellers,” said Yamaguchi.
In closing, Yamaguchi shared this quote from Nelson Mandela: “May your choices reflect your hopes, not your fears.”
“If you are fearful, you are not going to get anywhere. If you follow your hopes you’ll be successful,” said Yamaguchi.
The Silicon Valley Association of REALTORS® joined the Silicon Valley real estate community in congratulating the 2016/2017 leadership team of the Chinese American Real Estate Association (CAREA) at the association’s installation dinner held at the Mayflower Restaurant in Milpitas last Friday. SILVAR President Karen Trolan administered the oath of office to 2016/2017 CAREA president Jennifer Chen, the officers and board of directors.
Chen is owner and president of J C Investment Consulting in San Jose. Serving with Chen as the 2016/2017 officers and directors are Coco Tan (Keller Williams Realty), immediate president; Yuan Chang (Intero Real Estate Services) and Wilson Chai (Bank of America), vice presidents; Kenny Tang (East West Bank), treasurer; David Wang (Century 21 Realty Alliance), secretary; Joyce Sun (GB Commercial, Inc.), membership; John Luk (GD Commercial, Inc.), founder and lifetime honorary chair; David Bonaccorsi, Esq. (Law Offices of Bernard, Bagley & Bonaccorsi, LLP), legal advisor; John Wong (Wong & Chin, CPAs), Wai Man Chan (Finance Eagle Strategies LLC), Sheena Chang (Vantec USA), advisors; and Dexter Lat (Realty World One Alliance), Mattie Wei (Re/Max Accord), Tracy Qui (KC& Association Insurance Agency), Leslie Chao (GD Commercial), Barbara Kuang (Allstate-BnW Associates, LLC), directors.
Chen thanked SILVAR and the 400 real estate professionals at the gathering. She noted their presence “shows why since 1988 CAREA has achieved great success by connecting together real estate agents, developers, escrow agents, loan agents, appraisers and property managers.” Chen’s theme for her term is “Will to Succeed.”
This week members of the Silicon Valley Association of REALTORS® (SILVAR) Cupertino/Sunnyvale District learned many California cities like Sunnyvale, and regional resources like the Bay Area Regional Energy Network, want to get the word out to homeowners that they can reduce energy and get cash incentives and rebates if they perform energy upgrades.
Nupur Hiremath, sustainability coordinator for the City of Sunnyvale, told members reducing greenhouse gas emissions is a key component of the city’s Climate Action Plan. By taking action to reduce their energy consumption, residents benefit with lower water and energy bills, increased property values and improved comfort in their homes. The city benefits, too, because Sunnyvale is one of 50 cities and counties competing as a semi-finalist in the Georgetown University Energy Prize of $5 million dollars for future energy-saving programs.
Hiremath said Sunnyvale’s Energy Efficiency Retrofit Grant Program provides homeowners with dollar-for-dollar matching grants of up to $5,000 for eligible energy efficiency upgrades like wall, floor and attic insulation, air-sealing, caulking and weather stripping, replacing light bulbs with high-efficient CFLs, home energy audit, insulation of water pipes, installation of energy efficient windows, furnaces and water heaters. The work must be done by a City of Sunnyvale licensed contractor. Applicants must meet income requirements. The City also offers loans to help homeowners make energy and safety improvements.
Sunnyvale residents may check out a Do-It-Yourself Home Energy-Saving Kit from the Sunnyvale Public Library. The kit contains supplies and devices that can help measure and lower utility bills and energy use. Residents get to keep free items from the kit, such as fluorescent light bulbs, faucet aerators, a low-flow showerhead, outlet gaskets, weather stripping and water leak detection tablets.
San Mateo County energy efficiency specialist Rachael Londer shared information about the California Home Energy Upgrade Program, which offers rebates and incentives for home energy upgrades, provides free home upgrade advisors to help homeowners, and connects them to trained participating contractors. Eligible improvements include air sealing, duct sealing, insulation, installing a high-efficiency furnace, air conditioners, water heaters and windows. Rebates are based on a point system. The more points you have by combining upgrades, the higher the incentives you receive. Incentives are awarded at $10 per point up to a maximum of $3,000. Applicants need not meet any income requirement.
Studies show the market value of a home increases as much as $25 for every $1 decrease in annual utility bills. Both Hiremath and Londer said REALTORS® can guide buyers and sellers to consider energy efficiency home remodel decisions. They urged them to share the information on energy efficiency programs with their clients.
REALTORS® can visit the San Mateo County Office of Sustainability website and click on the “For Realtors” tab for information on energy upgrades and rebates which they can share with their clients. To learn more about the program or find a participating contractor, visit www.BayAreaEnergyUpgrade.org. Homeowners can also call a Home Upgrade Advisor at (866) 878-6008.
Last year the Bay Area Air Quality Management District (BAAQMD) staff proposed a radical program to force homeowners to decommission or remove their wood-burning fireplace at the point of sale. Members of the Silicon Valley Association of REALTORS® (SILVAR) and other REALTORS® from the nine Bay Area counties spoke out against this proposal. The REALTORS® attended meetings, sent letters, and lobbied elected officials on the BAAQMD Board. The proposal was eventually dropped. Instead, the BAAQMD adopted advisory requirements that are now incorporated into the PRDS residential real estate forms. BAAQMD has also developed a rebate program as an incentive to remove wood-burning fireplaces.
Homeowners looking to switch their wood-burning fireplaces to gas or electric can receive a substantial rebate from the BAAQMD. Rebates can range from $750 to $12,000 depending on the project. There is a total of $3 million dollars in rebates available.
The rebates are available on a first-come, first-served basis. The money is expected to cover rebates for about 1,500 homeowners with 40 percent set aside for low-income homeowners, those who live in areas most heavily impacted by winter smoke, and those who do not have access to natural gas pipelines to heat their homes. The larger grants, those at $12,000, will only be for low-income individuals.
Homeowners can apply for rebates here, or call (415) 749-5195.
The Silicon Valley REALTORS® Charitable Foundation this week presented West Valley College President Bradley Davis with a check for $10,000 to provide assistance to U.S. veterans through the SILVAR Veterans Scholarship Fund.
The Foundation is the charitable arm of the Silicon Valley Association of REALTORS® (SILVAR), a professional trade organization representing over 4,500 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The SILVAR Veterans Scholarship Fund is designed to support eligible U.S. veterans residing in SILVAR’s traditional service area who wish to further their education. Funds for the scholarship fund were raised at SILVAR’s 2015 “REALTORS® Honor Veterans” event from donations made by members and friends of SILVAR, including a generous grant from the Pacific Gas & Electric Company.
Silicon Valley Association of REALTORS® President Karen Trolan thanked members for their generosity. She said money veterans receive from the GI Bill is not enough to afford a college education. She noted she was impressed with the help West Valley College extends to veterans.
Silicon Valley REALTORS® Charitable Foundation President Eileen Giorgi also thanked members for their support of last year’s event and their contributions to the Charitable Foundation. “The SILVAR Veterans Scholarship Fund is our way of supporting our veterans, to thank them for their brave and invaluable service to our country, and to help them be successful,” said Giorgi.
Davis expressed his gratitude on behalf of West Valley College. “Thank you from the bottom of my heart. Your donation will help our veterans tremendously,” said David. He said the grant will go a long way to assisting veterans with tuition, books and supplies for their studies.
At the August Palo Alto District tour meeting, the Silicon Valley REALTORS® Charitable Foundation, the charitable arm of the Silicon valley Association of REALTORS® (SILVAR) presented Palo Alto University with a check for $10,000 to provide assistance to U.S. veterans through the SILVAR Veterans Scholarship Fund.
The SILVAR Veterans Scholarship Fund is designed to support eligible U.S. veterans residing in SILVAR’s traditional service area who wish to further their education. Funds for the scholarship fund were raised at SILVAR’s 2015 “REALTORS® Honor Veterans” event from donations made by members and friends of SILVAR, including a generous grant from the Pacific Gas & Electric Company.
Silicon Valley REALTORS® Charitable Foundation President Eileen Giorgi thanked members for their generosity and Palo Alto University for assisting the country’s veterans. “Thank you for your commitment to help our veterans achieve their goals. The SILVAR Veterans Scholarship Fund is our way of supporting our veterans, to thank them for their brave and invaluable service to our country, and to help them be successful,” said Giorgi.
Representing Palo Alto University at the presentation were Dr. Maureen O’Connor, president of Palo Alto University; Elizabeth Shaughnessy, director of Advancement; Derrick Felton, Board of Trustees and counselor, Veteran Affairs; Teresa Lee, executive assistant to the Provost & Director, Military/Veteran Student Services; and Jo Harvey, Advancement associate.
No matter where you are or who you are with, always trust your senses because your subconscious is almost always right. This was the first important safety tip that Santa Clara County Deputy Sheriff Chad Garton shared with SILVAR members at Wednesday’s Los Gatos/Saratoga District tour meeting.
Garton, who is a U.S. veteran who served in Iraq, said trusting your instinct is also what soldiers do in combat. If you feel uneasy about a person you are with or a situation you are in, trust your gut feeling and leave that person or remove yourself from the situation.
“Your subconscious is constantly taking in information; do not ignore that,” said Garton.
Garton said REALTORS® are especially at risk because they meet strangers all the time. He shared what he termed a 5-point Contingency Plan, which those in the military also use: Let people know:
1. WHERE you are going.
2. WHO you will be meeting.
3. WHEN you will be back.
4. What to do if you don’t return.
5. The ACTION to take if they cannot contact you.
Here are other safety tips Garton shared with members:
• It may be part of your job to show your professionalism and success in the way you dress, but be aware that people are watching you and looking for ways to steal valuables.
- Don’t leave valuables in plain sight in your car. It only takes 17 seconds for someone to break into a car.
- Always meet a new person in a public place and get their ID.
- Show strength in whatever you do. When you’re walking, look around; don’t look down. Always make eye contact. Speak in a loud voice because this gives the appearance of strength.
- Do not carry a firearm. If you have to carry a weapon, make sure you are fully trained to use it. Pepper spray and Mace are good, but you still need to train yourself to use these self-defense devices.
- An alarm system can act as a deterrent and video cameras inside and outside the home are even better deterrents because they can identify the robbers.
- Lock all doors and windows even if you are home. If the weather is warm, spend the extra money and turn on the air conditioner, instead of leaving windows open.
- Refrain from announcing open houses and where you will be on social media.
- Do not to hesitate to call 9-1-1 if they see something suspicious, or feel you are in danger.
REALTORS® are concerned about the recent announcement by the U.S. Department of Housing and Urban Development (HUD) that the Federal Housing Administration (FHA) will begin insuring mortgages on certain properties with Property Assessed Clean Energy (PACE) loans. REALTOR® officials say there ought to be more disclosures regarding the risks associated with PACE loans.
A PACE loan allows a homeowner to borrow money to finance energy upgrades. The loan is repaid as a surcharge on the property tax. The PACE loan takes primary position to the mortgage. If the cost of repaying the PACE loan and any mortgages on the property exceeds the home’s purchase price, the seller will be forced to make up the difference.
California Association of REALTORS® President Pat “Ziggy” Zicarelli said in a statement, “Although C.A.R. supports voluntary consumer-friendly energy improvement programs for homeowners, C.A.R. believes that HUD was ill advised to approve placing PACE loans in a senior position to FHA first mortgages. Doing so places FHA homebuyers and taxpayers at risk and does homeowners a disservice by approving a loan product without consumer protections and which is aggressively sold to homeowners who rely on FHA financing for safe and affordable mortgages.”
REALTORS® say PACE loans are unfairly expensive and carry higher interest rates than the first mortgage or a home equity loan. “This loan product has no minimum disclosures, no underwriting of the borrower, no proof that the borrower has the ability to repay, no three-day right to rescind, no marketing limitations, no interest rate or fee caps, no kickback prohibitions; nothing,” added Zicarelli.
The Federal Housing Finance Agency (FHFA) and conservator of Fannie Mae and Freddie Mac prohibits PACE loans to be placed in a senior position to the mortgage. Both the FHA and Fannie Mae currently offer mortgage financing that allows borrowers to finance energy efficiency improvements at lower rates than PACE liens. HUD’s announcement, which is contrary to FHFA’s current policy will only confuse homeowners, homebuyers, REALTORS®, lenders, escrow, title and the housing market overall.
The National Association of REALTORS® also expressed its concern, especially with regard to delinquent foreclosed properties. “A foreclosed property with a PACE loan in the primary position will likely remain on the market longer than it should, further increasing uncertainty in mortgage markets and placing unnecessary pressure on homeowners,” NAR President Tom Salomone said in a statement.
Karen Trolan, president of the Silicon Valley Association of REALTORS®, said, “Now, more than ever, the California legislature must pass AB 2693 (Dababneh), a C.A.R.-sponsored bill that would ensure consumers are aware of the consequences of PACE loans and have the opportunity to rescind after a three-day cooling off period. Current disclosures given to home buyers do not explain the potential consequences of using PACE loans. AB 2693 will require Truth in Lending type disclosures to borrowers.”
Silicon Valley Association of REALTORS® says ... 