does your real estate firm have an office policy?

Volume 10, Number 8
www.sccaor.com
DOES YOUR REAL ESTATE FIRM
HAVE AN OFFICE POLICY?
GOVERNMENT AFFAIRS UPDATE PAGE 8
GLOBAL REAL ESTATE SUMMIT PAGES 10 -11
CONVENTION AND TRADESHOW PAGE 21
CHILI COOK OFF PAGE 22
August 2014
2014 CORPORATE SPONSORS
2014 MEDIA SPONSORS
Off Price Carpet
IN THIS ISSUE
Page 3 - President’s Perspective
Page 4 - From the Desk of the CEO
Page 5 - Having an Office Policy Makes Good Business Sense
Page 8 - Government Affairs Update
Page 9 - MLSListings Corner
Page 10 -11 - Global Real Estate Summit
Page 12 - 13 - Education
Page 14 - 15 - SCCAOR’s Annual Barbecue
Page 16 - 17 - Golf Tournament Raises $28,000 for SCCR Foundation
Page 18 - Book Club of the Month
Page 19 - SCCAOR REALTOR® Store
Page 20 - Corporate Sponsor Spotlight
Page 21 - 24th Annual Convention and Tradeshow
Page 22 - AppyHour
Page 22 - 11th Annual Chili Cook Off
Page 24 - Calendar of Events and June MLSListings statistics
ADVERTISERS
Page 3 - CEFCU Page 7 - Umpqua Bank Page 15 - Umpqua Bank Page 17- Guaranteed Rate RE Source
The RE Source is the official monthly publication of
the Santa Clara County Association of REALTORS®
Our Mission
The Santa Clara County Association of
REALTORS® exists to meet the business,
professional and political needs of its
members and to promote and protect home
ownership and private property rights.
President
Myron Von Raesfeld
President-elect
Craig Gorman
1651 North First St, San Jose, CA 95112; 408.445.8500; www.sccaor.com
Board of Directors
Michael Bui
Nicholas Pham
William Chea
Carl San Miguel
Kevin Cole
Mike Sibilia
Mike D’Ambrosio
Rick Smith
Robert Doucet
Stephen Theard
Brad Gill
Dave Walsh
Anne Hansen
Bonnie Wilson
Barbara Lymberis
SCCAOR Staff
Chief Executive Officer
Neil Collins
Vice President
Gustavo Gonzalez
Executive Assistant
Alma Moreno
Treasurer
Trisha Motter
Accounting
Karen Huang, Accounting Manager
Jenny Dodgson, Accounting Clerk
SCCAOR is not liable and assumes no responsibility for the accuracy
of the information enclosed in this publication. The opinions
expressed in this publication are not necessarily the views/opinions
of SCCAOR. SCCAOR does not endorse the companies, products or
services advertised in this publication unless stated.
Education
Brenda Montgomery, Director of Education
Government Affairs
Anil Babbar, Director of Government Affairs
Membership Services
Tracey Lee, Sr. Membership Coordinator
Kim Dang, Membership Coordinator
William Santillana, Membership Coordinator
Kimberly Westfall, Membership Coordinator
Professional Standards
Ellen Santomauro, Director of Professional
Standards
Public Relations/Marketing
Alison Martinsen, Director of PR/Marketing
Kim Daley, Marketing/Events Coordinator
Julie McCoy, PR Coordinator
Technology
Max Valdez, Director of Technology
Shawn Oshiro, IT Helpdesk Support
PRESIDENT’S PERSPECTIVE
Myron Von Raesfeld – 2014 SCCAOR President
All Hands on Deck
I am sad to report that the
City of Santa Clara - the new
home of the San Francisco
49ers and an amazingly wellrun city - is venturing down a
path that I would have never
thought possible. Recently,
the City Council formed an
ad hoc committee to look
into fixing the problems that
some residents have been
complaining about for a long
time: students around the University of Santa Clara.
This committee - under the watchful eye of several
council members, planning commissioners and the
city attorney - has just constructed a new citywide
ordinance that attempts to define who can live
together and who can’t. If this action is not bad
enough, the ordinance does absolutely nothing to
address the actual complaints Santa Clara residents
have made. What this draft ordinance does attempt
to do is redefine what the city considers a “Boarding
House” within the city limits. This proposed
ordinance was drafted very quickly and almost
snuck by the general public.
The committee believes that when three or more
adults who are not related by blood or marriage
and choose to live together, this constitutes a
“Boarding House.” A “Boarding House” is illegal in a
residential neighborhood under the city’s current
zoning. What this means for most students who do
not live on campus is that they would be breaking
the law in Santa Clara if they live with two or more
other students. I for one do not believe that it is our
elected official’s responsibility to tell any of us how
continued on page 5
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3 | RE Source
From the Desk of the CEO
August 2014
Neil Collins, SCCAOR CEO
In order for SCCAOR to continue to improve
how we service you, our valued members, it’s
critical for us to obtain your feedback. Recently,
we sent out a survey in which you provided your
input on a variety of issues.
One of the questions we asked was how
you would like us to communicate with you.
An overwhelming number of you indicated a
preference to hear from us electronically. The
top three responses were all email products:
single subject emails,
our e-newsletters
(SCCAOR University, SCCAOR Update and the
Broker Bulletin) and RE Source, our monthly
e-magazine.
Additionally, we asked which member benefits
are most important to you. Staying informed on
industry news was cited as the most important
benefit, followed by education and professional
development. C.A.R & NAR benefits like Zip
Forms and health insurance rounded out our
top three benefits. Government affairs and
advocacy came in a close fourth place.
We also asked some open-ended questions
such as, “What do you see as the biggest threats
to your business?” Here are the top concerns
you mentioned:
1.Bad agents
2. Zillow and Trulia
3.Auction companies
4.Off MLS listings
5.Overregulation
6.Rising interest rates
7.Downward pressure on commissions
8.Lack of inventory
Many of the concerns above were also echoed
in last year’s survey. The new addition to the list
this year was the threat of companies such as
auction.com, which are already transacting in
real estate online.
We have worked very hard over the past
year and half to be more engaged with our
members and respond more quickly to their
RE Source | 4
needs. It appears that our
efforts are paying off. A
year ago when we asked
how likely you would be
to recommend SCCAOR to
a colleague, 73% of you
said you were very likely to
recommend us. This year’s
results are considerably
better: 77% of our longest, tenured members
said they were very likely to recommend us,
while a whopping 85% of newer members were
even more enthusiastic about SCCAOR.
We truly do appreciate your feedback and we
will continue to work very hard to exceed your
expectations. Thank you for your membership
and support of SCCAOR.
Professional Standards Tip:
Is your advertisement misleading?
Article 12 of the Code of Ethics says that
REALTORS® shall be honest and truthful
in their real estate communications
and shall present a true picture in
their advertising, marketing, and other
representations.
Don’t mislead the public as to what
you have sold or what you currently
have on the market. Don’t advertise
listings that aren’t yours without
authority to do so. Do make accurate
and verifiable statements about your
accomplishments.
In keeping with the electronic times
we live in, the Code also now includes
internet advertising, as well as all the
other forms of media advertising.
Presidents Perspective
continued from page 3
we should live or who we should live with.
Many of us have lived away from home and in
most cases we had to share rooms with friends
just to afford a place to live. If Santa Clara succeeds
at the passage of this misguided ordinance, the
city will take a huge step backwards in the
supply of affordable housing. As REALTORS®,
we need to stand against the taking of private
property rights and discrimination, both of
which I believe this proposed ordinance creates.
In the days and weeks ahead, we will work to
stop this ordinance from becoming a reality.
The city will discuss this proposed ordinance at
6 p.m. on Monday, August 4 in the City Council
Chambers. I would encourage all of you who
care about private property rights to attend this
meeting and make your voices heard. Feel free
to contact our staff for more information and a
copy of the draft proposal.
Having an Office Policy Makes Good Business Sense
By Julie McCoy
Does your real estate firm have an office policy? If
not, it should. After all, everyone at your company
should know what is expected of them and what
your company’s standards are.
An office policy provides stability and structure and
ensures everyone is on the same page. Without one,
people could potentially do whatever they want.
CSR Real Estate has two office policies, one
for agents and another for staff, according to
Terry Meyer, VP of Operations. The policies, while
separate, are actually quite similar in content,
Meyer said. The policies are sent electronically
to agents and staff, who can keep them on their
desktop. Agents and staff are asked to sign a
document acknowledging they have received the
information and read it.
The policy for agents lets them know that they
are independent contractors and not employees
of the company. It also mandates that agents
become a member of SCCAOR and that they call
their auto insurance company and add CSR as one
of the entities on the policy.
Additionally, the policy says that if agents are going
to drink at an event, they should do so responsibly
and not drive. And it makes agents aware that sexual
harassment will not be tolerated at CSR.
“At the end of the day, it really is about protecting
the company’s interest,” Meyer said.
CSR has had an office policy for nearly two years,
according to Meyer. He said he reviews the policy
annually. If it needs to be revised, then he makes
the changes. If it doesn’t, then he leaves it alone.
Having an office policy is important for a company
of any size, but especially for a larger company like
CSR, which has 100 people in its office, Meyer
emphasized.
“Any brokerage of any size can benefit from an
office policy but I do believe it becomes a necessity
when you’re a larger company,” he said.
Without an office policy, “You open yourself up to
a tremendous amount of liability,” Meyer pointed
out. “Your exposure to lawsuits increases a great
deal when you do not have stated policies in place.”
Silicon Valley Associates’ office policy lays out
the company’s dress code (what is acceptable for
agents to wear in the office and while interacting
with clients and what isn’t) and provides rules about
what agents can and can’t drink while on the job,
according to President Don Jessup.
“We try to take the reinventing the wheel out of
it,” he said.
The company’s office policy also covers all the
basics for operating the business, such as turning
on the lights, opening the shades, operating the
phones, copier, scanner, and fax machine, what
agents need to do to change the password on
their email, and how to run Facebook ads.
“We use an office policy manual as the blueprint
to running our business,” Jessup explained.
continued on page 6
5 | RE Source
Having an Office Policy Makes Good Business Sense
continued from page 5
Silicon Valley Associates has had an office policy
for five years, according to Jessup. The policy is
updated as needed, often monthly or even daily.
It started off as a human resources manual and has
become a policy, Jessup said.
“I think it becomes the core of what you do,” he
said. “The office manual is the thing that allows
you to have order. It is the thing that keeps you
focused on the important things you do.”
Coldwell Banker’s office policy reminds agents
that they have a fiduciary duty to the buyer,
according to Manager Don Tornincasa.
The policy also covers how to handle multiple
offer situations where the listing agent represents
both the buyer and seller, Tornincasa said.
Additionally, the policy sets guidelines for when
an agent is selling their own property. The agent
may not represent the buyer in that situation.
Finally, the policy sets expectations for behavior and
dress in the office, with “professionalism and common
sense being the basic guide,” Tornincasa said.
Without an office policy, Coldwell banker
would be “inconsistent, making decisions on
the fly, without consideration for legal or ethical
ramifications,” Tornincasa pointed out.
It raises “the bar of integrity and professionalism
for our brand when our agents comply to what
we feel is a higher level of ethics for any given
RE Source | 6
situation,” Tornincasa explained. “An office policy
creates fairness and consistency.”
Tornincasa said Coldwell Banker’s policies have
been in effect for at least 11 years, when he started
working with the company.
At Keller Williams Realty Silicon Valley, every
office has an Agent Leadership Council (ALC] that
sets office policies and gets to have a say in how
the company is run, according to Broker/Owner
Mike Sibilia.
The council typically consists of 4 to 8 people
who rank among the Top 20 for production and
attend Board of Director meetings and annual
convention meetings.
Council members create policies for their
particular office in conjunction with management.
“Each office has some variable per what the ALC
has decided,” Sibilia explained. “The dress code
may vary between one office and the other. It’s not
a top-down type of management style.”
Sibilia noted that, “I think the purpose of having
an office policy is it’s a reference book. If you don’t
have an office policy, people could do things
continued on page 7
continued from page 6
that are detrimental to themselves and to the
company. There’s nothing to interpret. I think it’s
important when you have a few people or more
that everything is spelled out.”
Intero has a list of values that serve as an office
policy, according to Robert Ducet, Vice President
and Managing Officer. The values - for example
integrity, compassion, loyalty, commitment and
professionalism - are listed in a pyramid format and
hung in the office. The values also appear on business
cards. They have never been updated or revised.
“These are the foundations you work from,” Ducet
said. “You don’t change your values. How you treat
people, how you conduct business should never
change. These are core values. You don’t change a
core. It makes it clear how we conduct ourselves.
There is no question what we do and why we do it.”
The values are posted where people can see
them every day. “It becomes a reminder every day
of why a person comes to Intero,” Ducet said.
What real estate companies include in their
office policy:
•a gents are independent contractors, not
employees of the company
• auto insurance rules
• sexual harassment will not be tolerated
• proper attire/dress code
• rules about alcohol consumption
• the agent has a fiduciary duty to the buyer
• how to handle multiple offer situations where
the agent represents both the buyer and
seller
• guidelines for when an agent is selling his or
her own property
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7 | RE Source
GOVERNMENT AFFAIRS UPDATE
Planning Commission
SCCAOR is excited to announce that the San
Jose City Council voted to renew REALTOR® Ed
Abelite’s term on the Planning Commission.
Abelite has served on the Commission since 2010
and will continue to serve until June of 2018. In
addition, the Council also appointed another
REALTOR®, Nick Pham, to the Commission.
SCCAOR would like to thank these two individuals
for their commitment to the community.
Wage Liens
At the county level, a report on wage thefts
was issued. Wage theft is typically defined as
the illegal withholding of wages or the denial
of benefits that are owed to an employee.
Part of the enforcement method the report
recommended was the placement of wage liens
on employers that have committed wage theft.
There is a concern that these wage liens may
extend to the personal property of an employer
which would prohibit them from selling their
property. We are currently observing this issue.
Neighborhood Protection Ordinance
The City of Santa Clara is currently reviewing
a Neighborhood Protection Ordinance. This
proposed ordinance would regulate the number
of renters in homes located in the city’s single
family residential zone (R-1 Zone). There are
claims that the ordinance is needed due to
overcrowding of homes rented out to students
attending Santa Clara University. While the claims
of overcrowding have yet to be proven, the
ordinance would have a number of unintended
consequences. One such consequence would
penalize large extended families or professionals
who live together to spread the cost of the high
price of housing. SCCAOR is performing a legal
review of the policy, stay tuned.
Local Government Relations
Every time a piece of legislation is proposed, like
those mentioned above, that has an impact on
private property rights or organized real estate,
the Local Government Relations Committee will
review it and recommend appropriate action. It’s
a committee of SCCAOR members who want to
make a difference in their community and help
to defend property rights and real estate from
burdensome regulations. If you want to take
part in this committee, give the staff liaison, Anil
Babbar, a call to discuss your participation. He
can be reached at 408-445-5063.
Get
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MLSListings Corner
New
Listing
in the
BETA’s RAPID List Program
New
Listing
Statuses inStatuses
the BETA’s RAPID
List Program
Our new BETA tools, available to test since June 10, have received many comments. Of those, one of
the topics we are seeing over and over again is about the new listing statuses. The new statuses will
are seeing over and over again is about the new listing statuses. The new statuses will be used in both the new
be used in both the new RAPID List (the new My Listings) product as well as for searching in Matrix.
RAPID List (the new My Listings) product as well as for searching in Matrix. We thought it might be helpful to review
We thought it might be helpful to review the definitions for our current statuses as well as share
the definitions for our current statuses as well as share information about the new ones.
information
about the new ones.
Weappreciate
appreciate
testBETA
these
BETA and
systems
share your feedback.
We
youryour
time time
to testto
these
systems
share and
your feedback.
Our new BETA tools, available to test since June 10, have received many comments. Of those, one of the topics we
Status
Abbreviation
Coming
Soon*
CS
Active
A
Definition
There is a valid listing contract between the seller and the
listing broker, but the listing is not ready for market. The
listing is in the MLS, but not on market.
A valid listing contract exists and the seller has not
accepted an offer. The listing is on market.
AC
An offer has been accepted and is contingent on fulfilling
certain criteria within the purchase agreement. The listing
is still on market. This status is generally used to indicate
that the seller is looking for additional back-up offers, or
that the property is subject to financing, court or other third
party approval.
P
An offer has been accepted and is expected to close. The
seller is not accepting additional offers and the property is
not on market.
Closed
S
The purchase agreement has been fulfilled or the lease
agreement has been executed. These listings show a
Close of Escrow date, or lease/rental starting date. The
listing is considered sold and is not on market.
Expired
E
The listing contract has expired. The listing is not on
market.
Canceled
C
The listing contract has been terminated in writing by
broker and seller. The listing is not on market.
W
A valid listing contract is in effect, but the lsiting is not
being marketed. This status can be used to indicate that
the seller requested withholding property showings and
offers temporarily. This listing is in the MLS, but not
actively on market.
Contingent*
Pending*
Withdrawn
* Coming Soon, Contingent, and Pending are new statuses
9 | RE Source
Global Real Estate Summit
Thursday, August 7, 2014
Take advantage of top international
speakers, develop valuable relationships
and strengthen your network to become
a leader in the global marketplace.
Featuring Keynote Speaker and
best-selling author, Michael Lee!
Topics covered:
• Opportunities, challenges and trends
• Foreign investors and local real estate
• How to syndicate your listing internationally
• Build lucrative relationships
• Currency exchange challenges
• Build your resource network
• Immigration laws / EB5 Visa
Date: Thursday, August 7, 2014
Time: Registration - 11:30 a.m.
Seminar - 12:00 p.m. - 4:00 p.m.
Cost: ONLY $25 - Light Refreshments
• And much more!
You will leave this seminar energized and
excited about global growth opportunities!
(Includes tapas from around the world!)
Location: SCCAOR
(1651 N First Street, San Jose CA)
Click here to register!
For more information contact the education department at 408-445-5085
Global Real Estate Summit
Keynote Speaker
Panel 1: How to Sucessfully Work with
International Real Estate Buyers and Sellers
Jim Walberg
Best-selling Author
Michael Lee
Author of “Selling to
Multicultural Real Estate
Clients” and Regional
Manager for Better Homes
and Gardens,
Mason-McDuffie Real Estate
International RE Agent
with Sothebys,
Certified Luxury Global
Estate Agent – Christie’s
International; Who’s Who In
Luxury Real Estate awards –
Top Global Networker
Jason Kumpf
Jennifer Tasto
US Forex
International money
exchange, growth
consultant and advisor,
business development,
finance, advising,
sales and marketing
International RE Agent,
NAR Representative
for the Philippines and
Global Committee,
Certified International
Property Specialist
Panel 2: Secrets to Making Money with
International Business Service Providers
Janet Case
CEO of Proxio, International
MLS Service, international
marketing for Europe, Asia
and North and South
America, and launching new
products worldwide
Andrew Lee
Founder and President of
AREAA Sacramento
from 2009-2013. Current
Secretary on the National
Board of Directors for
AREAA. Broker/Owner of
Affiniti Real Estate
Blake Harrison
Immigration Attorney
practicing in business
immigration, EB-5 Investor
Visa Program and the
Regional Center
Investment Program
Winnie Ho
HSBC International Loan
Consultant specializing
in jumbo lending and
foreign national lending,
Underwriting Manager,
Operations Supervisor,
and Wholesale Account
Executive
For more information contact the education department at 408-445-5085
9 | RE Source
EDUCATION
Larger Apartment Buildings and
Commercial Properties
Take Your Business to the Next
Level
FHA/VA Loans - What Agents Need
to Know
(Property Management Course #3)
Take Your Property Management Business to New
Heights!
Become an apartment building and commercial
property pro.
This course will provide you with a comprehensive
overview specific to large apartment and commercial
buildings. You’ll get an understanding as to how to
handle facilities and equipment, tenant profiles,
agreements, improvements by tenants and policies.
Learn how to review the many opportunities and
challenges that come with managing commercial
properties and larger apartment buildings.
How you will benefit from taking this course:
SCCAOR invites you to a Top Producer REALTOR®
Event
Topics Covered:
This segment of the mortgage industry dominates
most of today’s market. You’ll learn about the
benefits of these types of loans and differences
between conventional and government loans.
Topics covered include:
• Identify properties suitable for your level of
experience and skills
• Develop financial and physical evaluation skills
for apartment and commercial properties
• Learn how to establish an operating budget and
plan
• Understand your role and responsibility as a
professional property manager
• Understand the California Bureau of Real Estate
(BRE) licensing laws
• Describe the various types of commercial
properties
• Perform an investment analysis for an apartment
building or commercial properties
• Understand the guidelines, concepts and terms
of loan programs
August 4, 2014
9:00a.m. - 1:00p.m.
$64.00 SCCAOR members; $74.00 non-members
Instructor: George Lawrence
ENROLL NOW
GRI Designation Course
(#114 Essential Concepts of the C.A.R. Residential
Purchase Agreement)
This continuing education course details the
residential purchase agreement from beginning
to end.
This course covers:
• basic contract principles
• general provisions affecting deposit receipt forms
• the real estate purchase contract and receipt for
deposit
• in-depth understanding of C.A.R.’s real estate
purchase contract and receipt for deposit
• the significance of selected regulation of the
Real Estate Commissioner and sections of the
Business and Professions Code.
August 5, 2014
8:00a.m. – 5:00p.m.
$149.00
Location: SCCAOR University
Instructor: Suzanne Yost
ENROLL NOW
RE Source | 12
• Essential tools needed for success
• Goal setting
• Calendaring your success
• Database management system
• Prospecting tools & techniques
• Prelisting Packet
• Listing presentation
• Buyer Presentation
• Identifying & building out a farm that produces
results
• Expired & price reduction techniques
• Open House
• Building out your real estate team
August 11, 2014
9:00a.m. - 5:00p.m.
$20.00
Instructor: Eric Orland
ENROLL NOW
Search & Report Essentials
Learn the fundamentals of the Matrix search and
report application, including display options, report
formats, client communications and much more.
Course Content/Modules
• Matrix dashboard management
• Basic search and saved search
• Hot sheet activity reports
• Display and sorting options
• Report options
• Client communication tools
Course Duration and Format
This is a 90-minute seminar format course.
Prerequisites
New agent orientation.
August 12, 2014
10:30a.m. – 12:00p.m.
FREE
Instructor: Roxanne Sanchez/MLS Instructor
ENROLL NOW
Advanced Search & Report
Expand your skills using Matrix search and report
tools to advance your listing data gathering and
reporting expertise. Learn the nuances of map
search technology to ensure you’re finding all the
results to maximize your list or buy opportunities.
Course Content/Modules
• Advanced map search techniques
• Custom map templates
• Challenges of search by MLS Area
• Managing Saved Searches
• Advanced search fields
Course Duration and Format
This is a 90-minute seminar format course.
Prerequisites
Search & Report Essentials
August 12, 2014
1:00p.m. - 2:30p.m.
FREE
Instructor: Roxanne Sanchez/MLS Instructor
ENROLL NOW
• Dispelling FHA myths
• Advantages of FHA vs. conventional loans
• Mortgage insurance
• Current market trends
• The unique underwriting guidelines of the FHA
• Marketing to buyers
• Dealing with property guidelines when making
an offer
• Getting closing costs covered and why it is so
important
August 13, 2014
1:00p.m. - 4:00p.m.
$10.00
3 Cal BRE Credits
Instructor: Dana Booth
ENROLL NOW
The 45-Hour Panic Program
RENEW YOUR LICENSE FOR ONLY $149.00!
Topics Covered:
•Agency
•Ethics
• Trust Funds
• Fair Housing
• Risk Management
August 19, 2014
8:30a.m. – 5:00 p.m.
$149.00
Location: SCCAOR/1651 N. 1st Street, San Jose, CA
Instructor: Charlie Krackeler
For registration and payment information, contact
Nancy at
(800) 54-RENEW (73639) or call 650-941-4321
http://www.charliekrackeler.com/index/
Proven Tax Strategies for the Real
Estate Professional
If you’re looking for proven, legal ways to save
thousands of dollars on taxes, year-in, year out, our
upcoming seminar event is for you!
Topics covered:
• Why understanding your tax options now is
more essential then ever in the rising real estate
market and how it can dramatically increase
your take home income. (It’s worth attending
our seminar for that information alone!)
• How the new law affects purchase of cars,
computers, and equipment for your business.
Proven low-stress, time-saving techniques
and strategies for avoiding an IRS audit. (Our
strategies can save you a whole lot of pain and
heartache!)
• Why real estate professionals may safely qualify
for a home office deduction.
• How to transform personal commuting to
deductible business mileage.
• How to use a little-known rule that can double
your entertainment deductions.
• How to help your accountant work a lot more
effectively on your behalf.
• How keeping records the right way can open
a whole new world of tax deductions.
• How to hire your spouse without triggering
payroll taxes.
• The one vehicle-ownership mistake that can
cost you thousands, even tens of thousands
of dollars.
• The truth about appointment books and auto
logs.
• One simple tactic that makes your deductions
stand up and shout, “I am deductible!”
• How to deduct entertainment costs when
you’re paying only for yourself
• When the use of an office in your home
actually reduces your chances of an IRS audit.
• How to deduct the cost of a cruise without
working while on-board the ship.
August 21, 2014
1:30pm - 3:30pm
$10.00 SCCAOR members
$25.00 non-members
Instructor: Kelly Clark
ENROLL NOW
Escrow Red Flags
At this seminar you will learn:
• What are red flags?
• Withholding and Exchanges
• Judgments, Liens and Bankruptcy
• Notice of Default and Short Sale
• Trusts, Probates and Court Orders
• Vesting Issues
• Construction and Mechanics Liens
• Power of Attorney
• The Escrow Perspective
• The new RESPA Requirements
•FAQs
August 26, 2014
10:00a.m. – 12:00p.m.
$10.00 SCCAOR members; $25.00 non-members
Speaker: Rita Alam
ENROLL NOW
MLS Market Intelligence
Matrix has a variety of tools available to build
statistical analysis of local market conditions. You
will learn how to build and publish charts, tables
and graphs for client presentations and posting
to social media.
Course Content/Modules
• Building basic and advanced search criteria
• Hot sheet searches to show market activity
• Matrix stats and tables
• Quick CMAs to determine market values
Course Duration and Format
This is a 90-minute workshop format course.
Prerequisites
Search and report essentials
August 26, 2014
10:30a.m. – 12:00p.m.
FREE
Instructor: Roxanne Sanchez/MLS Instructor
ENROLL NOW
MLS Farming Support
During this course you will learn to use Matrix
and Realist together to determine all the home
owners in your farm area. The course will further
show you to use MLS statistics data and market
performance reports to keep prospective clients
up-to-date about local market activities.
Course Content/Modules
• Search and report options
• Matrix map search
• Quick CMA
• Matrix Statistics
• Realist search
• Realist mailing labels
Course Duration and Format
This is a 60-minute workshop format course with
an added 30-minute Q&A period.
Prerequisites
Search and report essentials
Advanced search and report
The Art of CMA
Public records
August 26, 2014
1:00pm - 2:30pm
FREE
SCCAOR University
1651 N 1ST Street, San Jose, CA 95112
Instructor: Roxanne Sanchez/MLS Instructor
ENROLL NOW
iPad For REALTORS
Topics covered:
• Drop Box
• How to download and organize PDFs on iPad
– iBooks
• Scan to PDF
• Signatures on iPad – SignMyPad
• Getting PDFs where you want them
• Office – Word, Excel, PowerPoint Equivalents
•Pages
• Penultimate – How to Draw a Room
• Home Decorator Pro – How to change color
• Connecting remotely to your computer
• Tips & Tricks
• iOS Features – Sample
• Much, much more!!!
August 27 , 2014
1:00p.m. - 4:00p.m.
$25.00 SCCAOR members; $40.00 non-members
Instructor: Lynda Gousha; certified ACSP, Apple
Certified Support Professional
ENROLL NOW
AUGUST
4
5
7
8
11
12
12
13
14
19
20
21
26
26
26
27
Large Apartment Buildings & Commercial Properties - Property Management (PMC3)
GRI #114
Global Real Estate
Legal: You’ve Got Summons! A Survival Guide for dealing with Litigation
Take Your Business to the Next Level
MLS Search & Report Essentials
MLS Search & Report Advanced
FHA & VA Loans
Commercial Real Estate
45-Hour Renewal Course
Legal Updates with Anthony Ventura
Tax Strategies for the Real Estate Professional
MLS Market Intelligence
MLS Farming Support
Escrow Coordination Secrets
ipad for Realtors
SEPTEMBER
5
9
9
10
10
11
12
17
17
22
23
23
23
25
25
30
Zipforms Training
NMLS Renewal
GRI #115
Commercial 102, 103 & 104
Understanding Short Sales & REO’s
Commercial Real Estate
Legal: Negotiation Skills
Mobile MLS
MLS Video Marketing
STEP (New Agent Training Series)
Transaction Coordination Certification
MLS Open House Support
MLS Custom Displays & Exports
Property Management
Facebook: Advanced
Transaction Coordination #2 - Beyond the Contract
OCTOBER
3
7
8
9
10
14
14
15
15
16
21
22
23
23
23
27
28
28
28
29
30
Vacation Rental Management - Property Management (PMC 6)
GRI Designation Course #116
Understanding FICO Scoring
Commercial Real Estate
Legal: Negotiation Skills
MLS Listings Seminar
MLS Listings Seminar
Global: Opportunities & Challenges of Multicultural Clients
Global: Building Rapport with Multicultural clients
Commercial Real Estate
45-Hour Renewal Course
Legal Updates with Anthony Ventura
Global: How Culture Can Affect Real Estate Transactions
Global: Black Belt Negotiating
Google Tools
Escrow 101
Global: Selling Real Estate to Specific Cultures
Global: Working with International Clients
MLS Listings Seminars
Take Your Business to the Next Level
CAR Legal Update with Gov Hutchinson
13 | RE Source
Fun in the Sun at SCCAOR’s
Annual Barbecue
By Julie McCoy
It was a chance to network, enjoy some great
food and have some fun in the sun.
Five hundred SCCAOR members and their guests
attended our annual barbecue on July 10th.
The event gave members a chance to see people
they hadn’t seen in a while and meet new people
or people they had done business with on the
phone or emailed but had never met in person.
“I work with so many people in the industry, but
I rarely get to see them face-to-face,” said Sandy
Jamison, Broker/Owner of Tuscana Properties.
Jamison, who attended the barbecue for the first
time, said she’s looking forward to coming back
again next year. “It’s always good to get out and
say hello,” she said.
Mike Bui, of EquityOne in San Jose, said: “We like
to come and mingle with our fellow REALTORS®
that we do business with.”
In addition to REALTOR® members, many Affiliate
members of SCCAOR attended the event as well.
Jill Varvell, Senior Account Executive at Old Republic
Title, noted that,“This is the best place to see everybody
you haven’t seen all year. It’s like a reunion.”
Legal Shield’s Jose Leon said: “I haven’t seen my
friends in a long time. It’s just a great opportunity
to get together and reconnect with people.”
Several politicians attended the barbecue as well,
including San Jose Mayor Chuck Reed; Milpitas
Mayor Jose Esteves; Campbell Mayor Rich Waterman;
Santa Clara County Supervisors Dave Cortese and
Ken Yeager; San Jose City Council members Pete
Constant, Sam Liccardo and Ash Karla; Milpitas
City Council Member Debbie Giordano; Campbell
City Council Member Evan Low; Santa Clara City
Council Member Pat Kolstad; Don Gagliardi and
Chappie Jones, who are running for San Jose City
Council; Frances Herbert, Representative of State
Senator Jim Beall; and Allen Chiu, Representative of
Congressman Mike Honda.
“I just come here to thank people for all of the
support the Board has given me regarding fiscal
reform,” said Reed, who has attended the barbecue
for 14 years. “Things are getting better and the
Association played a role in making that happen.”
RE Source | 14
Cortese, a former REALTOR® who is running for
Mayor of San Jose in the upcoming November
election, has attended the barbecue since 1996. “I
know I am going to see a great group of people,”
he said. “It’s a throw back for me to see people who
are still working in the industry.”
Liccardo, another candidate for Mayor of San
Jose, noted that, “There are few events in this
Valley that bring together thoughtful leaders in
the real estate and business communities like the
SCCAOR barbecue. It’s a ‘can’t miss’ event for those
of us who need to keep our finger on the pulse of
our Valley.”
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www.umpquabank.com Member FDIC Equal Housing Lender
Equal Opportunity Employer Loan products subject to credit approval
NMLS 401867
15 | RE Source
Golf Tournament Raises $28,000
for SCCR Foundation
By Julie McCoy
It was all about teeing off for a good cause.
More than 420 REALTORS® and affiliates
participated in SCCAOR’s 61st annual Golf
Tournament at Coyote Creek Golf Club on Tuesday,
June 10th. The event raised $28,000 - twice as much
as last year! Proceeds from the event go to SCCAR’s
charitable arm, the Santa Clara County REALTORS®
[SCCR] Foundation, which donates money to local
schools and local families in need.
Participants got a chance to enjoy a beautiful day
outdoors, amongst spectacular scenery. The event also
was a great networking opportunity. Attendees were
able to meet new people and rekindle relationships
with people they already knew.
“It’s a good day to come out,” said Rick Finamore,
of Finamore Realty in Campbell. “It’s a lot of alumni.
It’s nice to get acquainted. There are a lot of new
faces. It’s time away from the office. The bottom line
is building relationships. Hopefully by doing that,
we can make a difference in everyone’s lives.”
Finamore was happy to support the SCCR
Foundation. “I believe in giving,” he said. “When
you’re giving, you don’t have to expect anything. It
will come back.”
David Lawver, a loan officer with Kalfinancial, said,
“It’s nice to get out of the office. This is a great event
where everybody gets together and it’s for a good
cause, too. It’s a great day in the sun.”
Hole sponsors of the event included: Alain Pinel
Realtors, ClickHome Realty, Coldwell Banker, Corefact,
CSR Real Estate Services, EverBank, First American
Home Buyers Protection, Guaranteed Rate, Keller
Williams Bay area Estates, Kevin Cole of Alain Pinel
Realtors, MarKey Capital, New American Funding,
Property Inspection Services, RealScout, RealSource
Property Management, Rental Housing Network, S&G
Carpet, Shutterfly, Silicon Sage Builders, Solar City,
Stewart Specialty Insurance Services, The New Home
Company and Sereno Group.
“We’re here because we love the opportunity,”
commented Drew Dapkus, mortgage loan originator
at EverBank. “It’s a tradition we participate in that
we look forward to. We feel like it’s good community
involvement with the Foundation.”
Michelle Formico-Lewis, operations manager for
MarKey Capital, said, “Everybody is relaxing. Meeting
people in the industry is always an advantage.
Visibility is key for us right now. We wanted to create
a presence, so people know who were are, what we
do and what makes us different.”
New American Funding’s Michelle Garcia noted
that, “We’re basically networking, supporting
SCCAOR. It’s a community event. It’s one of our
favorite events. It’s well set up, well-presented.
It’s well-organized. It’s the biggest annual golf
tournament. Everybody knows about it.”
Corporate sponsors were: Off Price Carpet,
Tony Ventura, Attorney at Law, Bank of America,
Commission Express Silicon Valley, Chase,
MLSListings, Umpqua Bank and Wells Fargo Home
Mortgage. Media sponsors were KSFO, The San Jose
Mercury News and University Production.
For many, the tournament provided a great return
on the investment. Josh Routon, of Off Price Carpet,
said someone approached him needing 7,000 square
feet of laminate flooring, “which would be a $14,000
sale if we get it,” he pointed out.
Tony Ventura of Slater, Hersey & Lieberman said, “I
do the sponsorship because it’s a good way to give
back. You can see 200 people [golfing] all at once.”
continued on page 17
RE Source | 16
Congratulations to this year’s
tournament winners!
Longest Drive/Men
Tim Denner, Valley #9
Dan Lawson, Tournament #13
Longest Drive/ Women
Jennifer Cortez, Valley #9
Minnette Thompson, Tournament #13
Closest to the Pin
Mark LeBlanc, Tournament #2, First Place
Chris Dow, Tournament #2, Second Place
Jim Sullivan, Valley #16
Double
Your Business
and Dominate Your Market
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Our in-house underwriting department, huge loan product selection and
expert mortgage professionals will help you close more loans in less time.
Find out more at www.guaranteedrate.com/px
Or call your local branch manager, Bonnie Cotta, at 408.841.4951
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17 | RE Source
15 | RE Source
Book Club of the Month
Links to Success…Read and Achieve
Each month, we are highlighting a book that will feed your brain,
help increase your productivity and inspire you. We’re sure it’s going
to motivate and help you learn how to build a thriving real estate
business. Here’s what we chose for August.
Good to Great
This book by Jim Collins address the question: Is it possible for
good company become a great, and if so, how? Based on a five-year
research project comparing companies that made the leap to being
great to those that did not, Good to Great shows that companies
become great not due to circumstances but by making a conscious
decision to do so. It discusses concepts like first get the right people
on the bus, then figure out where to drive it.
Off Price Carpets catering to real estate agents and
their clients for 15 years. We stock plenty of inventory
ready for immediate installation. We are Shaw Carpets’
largest dealer of excess inventory in California, which
means we can provide some of the best carpets made
for less than half of what it normally sells for. All of our
installers have been with us for a minimum of 15 years.
We always guarantee their labor for as long as the
carpet is installed. Your clients will be comfortable to
have them working in their homes and happy with their
courteous professional work. Our goal is to have your
clients thanking you for the great service and value you
help them find at Off Price Carpets.
-Ken Routon, Manager
1020 W San Carlos, San Jose
(1.5 Miles East of Valley Fair) M-F 9-7 • Sat 10-5 • Sun 12-5
800.957.3566
408.288.7678
The SCCAOR Store
Lock Boxes
$5 Off
Yard
Markers
and
Sails
$5 Off
Metal
A-Frames
$5 Off
5-Pack
Balloons
$1 Off
SAVE
Shoe Covers
$2 Off
10%
On All Other Items
*(Excludes SUPRA iBoxes,
AMC Movie Tickets and Sale Items.
Sale is at on-site store only.)
For more information, call 408-445-8500 or email [email protected]
Corporate Sponsor Spotlight:
Commission Express Silicon Valley
In this issue, we introduce you to our Platinum
Corporate Sponsor Commission Express Silicon
Valley, in an interview with Owner Paul Wong.
Q: How long has Commission Express been in
Paul Wong,
Owner
Commission Express, Silicon Vally
existence and when did the San Jose franchise
open?
A
: Commission Express as a franchise has been
around for more than 20 years. The franchise
office in San Jose was opened in early 2000 by
a franchisee who was active until 2008 or 2009.
It became active again in late 2013 when I took
over and the real estate market activity was
picking up.
Q:
How many REALTOR® commissions has
Commission Express as a company advanced
over the years and for how much money?
A
: With more than 40 offices in most major
metropolitan areas nationwide, Commission
Express has partnered with thousands of
REALTORS® by converting more than 100,000
commissions totaling more than $500 million
into working capital to promote and operate
their businesses.
Q:
How does Commission Express operate?
Where do you get your money from?
A
: Commission Express operates a factoring
business that buys REALTORS® commissions as
soon as the pending contract is ratified. Our
funding of business comes from private investors
who would prefer a much higher return than a
bank CD.
Q
:What makes Commission Express Silicon
Valley different or unique? What makes your
company stand out?
A
: Commission Express Silicon Valley maintains
a local presence and is involved in supporting
REALTOR® organizations at the local, state and
national level. We have the lowest fee in the
industry as well as a quick turnaround time.
Q:What
are some of the rewards of running
Commission Express Silicon Valley and what are
some of the challenges?
A:The rewards are referrals and thanks received
from customers who appreciate us as a viable
financial tool for REALTORS® to manage their
cash flow. Our main challenges are getting
REALTORS® to know this financial tool exists and
understand the value that we provide to the
industry.
Q:
What is some of your background and
experience?
A
: Besides years of corporate management, I
have been involved in real estate investing.
What are five things people should know
about Commission Express Silicon Valley?
1. We convert commission to cash in 24 to 48
hours.
2. Our commission advance fees are tax
deductible as a business expense.
3. Our parent company, Commission Express,
is the largest and original commission advance
company in the U.S.
4. We are locally owned and provide friendly
service to best serve our local market.
5. We have a 30-day grace period if settlement
is delayed.
THE SANTA CLARA COUNTY ASSOCIATION OF REALTORS®
2014 Corporate Sponsors
NEWION!
AT
LOC
Off Price Carpet
Anthony F Ventura,
(Slater Hersey & Lieberman LLP)
Bank of America
Chase
Commission Express Silicon Valley
MLSListings
Umpqua Bank
Wells Fargo Home Mortgage
2014 Media Sponsors
KSFO
The Mercury News
University Production
NEW LOCATION:
Thursday, October 2, 2014
9:30 a.m. to 3:30 p.m.
Santa Clara Convention Center, 5001 Great America Parkway, Santa Clara
Free to all SCCAOR members until August 25, 2014.
After August 25, $10 registration fee at the door.
To register or for more information, visit www.sccaor.com/convention
or call 408-445-5081.
Parking is FREE! To avoid parking hassles, take the light rail.
10:00 a.m. – 11:00 a.m.
“Changes and Challenges in Today’s Real
Estate Market”
Carole Rodoni, President of Bamboo
Consulting
11:00 a.m. - 12:00 p.m.
“Don’t Jeopardize Your Future! Top Copyright
Myths for Today’s Real Estate Professional.”
Tony Ventura, Slater Hersey & Lieberman
12:00 p.m. - 1:00 p.m.
“Looking into the Future: Where the Real Estate
Marketplace is going in 2015.”
Jonathan Smoke, Chief Economist, Realtor.com
1:00 p.m. - 2:00 p.m.
“The Millennials are Coming: Learn Their
Language!”
Mike Bui, Equity One Real Estate
2:00 p.m. - 3:00 p.m.
“Grow Your Business With Five Powerful
Strategies!”
Heidi BK Sloss, Marketing Strategist &
Follow-Up Expert
Click here
to register or exhibit!
SPACE IS LIMITED!
Don’t miss this excellent opportunity!
Reserve your booth TODAY!
Market your company, products and
services at the largest real estate
tradeshow in Northern California!
Why Exhibit?
Come face to face with over 1000 REALTORS®!
The SCCAOR Convention and Tradeshow is the
ideal forum for collecting qualified leads,
generating sales and networking.
Did You Know?
94% of real estate pros recommend
products & services to clients/colleagues.*
*Source: NAR
www.sccaor.com
AppyHour
Here are some great REALTOR® apps for you to check out!
With Glympse, you can let someone you’re supposed to meet (a client or a family member, for
example) know where you are and when you’ll be there. It’s a good tool to use if you want to let
someone know that you’re running late. Or, if you happen to be waiting for someone who is running
late, you can send them a message to get their ETA.
Blogger enables you to blog via your phone. You don’t have to be
at your computer to write and send your blog, get it done while you’re
out and about!
PIXT enables you to share photos on either a private wall or a public
wall. The photos can be shared on social media sites such as Facebook
and Twitter.
Santa Clara County REALTORS® Foundation
11th annual
chili cook off
september 5, 2014
Bring your appetite to the 11th Annual Chili Cook Off presented by the SCCR Foundation!
Enjoy samples of awesome chili, beverages,and a celebrity judging panel!
Plus find out who will be the next Chili Cook Off Master Chef!
Date: Friday, September 5, 2014
Time: 4:00 p.m. to 7:00 p.m.
Cost: $10/person or
$20/family of four (children under 10)
Location: Almaden Lake (between Winfield & Coleman)
Calling All Chefs!
Enter your favorite chili concoction and compete against other secret recipes!
There will be awards for 1st, 2nd & 3rd place winners for best chili decided by celebrity judges!
Special Thanks to Our 2014 Corporate Sponsors
• Off Price Carpets •
• Anthony F. Ventura (Slater Hersey & Lieberman LLP) • Bank of America • Chase •
• Commission Express Silicon Valley • MLSListings • Umpqua Bank • Wells Fargo Home Mortgage •
Special Thanks to Our 2014 Media Sponsors
• KSFO •The Mercury News • University Production •
For more information contact: 408-445-5061 or [email protected]
Introducing Our New Members
APPROVED IN JUNE
AFFILIATE
Alfano, Cheryl
Anderson, Rita
Hall, Troy
Hatch, Tony
Jiang, Jing
Larson, Sue
Routon, Cheryl
Schreiner, Susanna
Silvius, Thomas
Steburg, Anita
PRIMARY
Barraza, Julie Ann
Champagne, Hollie M
Chavez, Maria Del Carmen
DeMartini, Brian
Dizon, Aida C.
Duncan, Dennis W
Escobedo, Peter
Franco, Michael
Gluhaich, Peter
Huynh, Brenda
Huynh, Helen
Infantino, Christine
Jadali, Ashkon
Jahani, Mohsen
Karagianes, Dorene
Kellett, Roy
Lai, Myha T
Le, Amanda
Le, Anna H
Le, Son
Lee, Gemma C
Lee, Jeong Hye
Lui, Albert
Miller, Norman
Mitlo, Erik
Naimi, Ali
Patel, Rajeshkumar R
Craig Stinnett
Home Loans Manager, SVP
NMLS ID: 633103
408.963.2623 Office
[email protected]
mortgage.bankofamerica.com/sanjoseoffice
Phan, Duyen Le
Reed, Kelly
Rizzuto, Sarah C.
Robson, Nguyen H
Rodriguez, Guadalupe
Rodriguez, Isreal
Sanchez, Katia M
Schmidt, David
Shah, Veeral H
She, Fawn
Shirazi, Shadeh
Simon, Cecil
Surdis, Theodore
Teplyuk, Valeriy
Tirado, Josue
Trinh, Thanh Duc
Tuteja, Varinder
Wilson, Rowena
Wortham, Tari
Christy Collier
Home Loans Manager, SVP
NMLS ID: 633057
408.615.6079 Office
[email protected]
mortgage.bankofamerica.com/sanjosestevenscreekoffice
SECONDARY
Berg, Louise M
Nguyen, Christina
Laipply, Laurel J.
Girish Punjabi
Retail Sales Manager, VP
NMLS ID: 633107
408.963.2647 Office
[email protected]
mortgage.bankofamerica.com/sanjoseoffice
Connect with a local home loan expert
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From the beginning, we will work closely with you to answer your questions, and help you find a home loan that works with your
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Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are
subject to change without notice. Bank of America, N.A., Member FDIC. l Equal Housing Lender. ©2010 Bank of America Corporation.
00-62-0112D HL-107-AD 07-2013 AR9E65C6
SCCAOR CALENDAR OF EVENTS
SCCAOR Convention & Tradeshow
Date: Thursday, October 2, 2014
Time: 9:30 a.m. to 3:30 p.m.
Location: Santa Clara Convention Center, 5001 Great America Parkway
Global Real Estate Summit
Date: Thursday, August 7th
Time: : noon to 4 p.m.
Cost: $25, includes light refreshments/ tapas from around the world
Location: SCCAOR
Do you work with clients from foreign countries or do you plan to do so in the near future?
If so, you won’t want to miss our Global Real Estate Summit. The event, featuring keynote
speaker and best-selling author Michael Lee, will cover opportunities, challenges and trends
in the global marketplace, foreign investors, how to syndicate your listing internationally and
much more!
Click here to register
We invite you to attend the largest real estate convention and trade show in
Northern California. Join us at the 24th annual Convention & Tradeshow at the
Santa Clara Convention Center. Boost your business with information from our
seminars, classes and demonstrations.
Click here to register
Save the Date:
Holiday Celebration
Chili Cook Off
Date: Friday, Sept. 5th
Time: 4 p.m.-7 p.m.
Cost: $10 per person or $20 for a family of four
Location: Almaden Lake (between Winfield and Coleman)
15652 Almaden Expressway San Jose
Date: Thursday, Dec. 4
Location: Santa Clara Convention Center
Bring your appetite to the 11th Annual Chili Cook Off presented by the SCCR Foundation. Enjoy
samples of awesome chili, beverages, foot-stomping music and a celebrity judging panel. If
you have a great chili recipe, sign up to be the next Chili Cook Off Master Chef!
We cordially invite you to attend SCCAOR’s Annual Toy Drive and Holiday
Celebration on Thursday, December 4th at a new location, the Santa Clara
Convention Center, 5001 Great America Parkway! Enjoy holiday cheer and
network with colleagues while helping us raise toys and money for foster
children in Santa Clara County!
MLSlistings Inc. Statistics for June 2014
stats analysis
The average sale price of a single-family
home in Santa Clara County in June was up 14.7
percent and the average condo price was up 9 percent year-over-year, according
to MLSListings statistics.
In June the average sale price of single-family homes was $1,203,900 up
from $1,026,477 in June 2013. Meanwhile the average sale price for condos was
$587,211, up from $534,144 a year before.
“With home prices continuing to rise, home owners in Santa Clara County
have regained some of the equity they lost during the recession, making it a
great time to sell,” commented Myron Von Raesfeld, President of the Santa Clara
County Association of REALTORS®. “Borrowing costs are low right now, which
gives buyers a reason to be happy this summer, too.”
Single-family homes were on the market for an average of 20 days in June,
down from 25 days in June 2013. Condos also were on the market for an average
of 20 days, unchanged from a year earlier.
Sellers of single-family homes received 104.64 percent of their asking prices in
June while sellers of condos received 104.35 percent.
There were 1,287 new listings for single-family homes in June, down from
1,343 a year earlier. Meanwhile, new listings for condos stood at 481, down from
604 in June 2013.
Inventory for single-family homes in June was 1,832, down from 1,889 a year
earlier. By comparison, inventory for condos was 586, down from 690 in June
2013.
June 2014 - Santa Clara County - Single Family Residence
Area/City
New Listings
Cur Inv
# of Closed Sales
Ave. DOM
Ave. Price
Med. Price
% LP Rec’d
Campbell
37
36
21
13
1,096,976
1,050,000
105.69
Total $ Vol.
23,036,500
Cupertino
33
27
41
22
1,751,443
1,762,500
110.71
70,057,724
Gilroy
79
167
40
34
588,860
567,500
99.29
23,554,413
Los Altos
32
14
35
18
2,563,121
2,295,000
108.03
84,583,000
Los Altos Hills
6
20
10
46
3,913,300
3,855,000
104.02
39,133,000
Los Gatos
45
78
50
34
1,814,446
1,650,000
99.80
90,722,336
Los Gatos Mtns
19
51
10
29
990,600
937,000
96.47
9,906,000
Milpitas
27
41
20
18
727,181
718,000
105.04
14,543,625
12,377,778
Monte Sereno
6
10
6
32
2,062,963
1,703,500
99.73
Morgan Hill
76
161
41
25
816,814
760,000
99.48
33,489,399
Mountain View
25
14
24
15
1,418,183
1,325,000
109.22
34,036,400
Palo Alto
39
35
42
15
2,609,828
2,415,000
108.08
104,393,127
San Jose
680
976
509
18
888,546
795,400
103.97
451,381,622
San Martin
8
24
5
48
1,730,000
1,270,000
90.60
8,650,000
Santa Clara
56
53
64
16
910,666
845,000
107.69
58,282,638
Saratoga
43
72
34
28
2,428,819
2,186,000
102.86
82,579,854
Sunnyvale
76
53
54
18
1,169,879
1,232,250
107.93
63,173,500
Summary
1287
1832
1006
20
1,203,900
- -
104.64
1,203,900,916
Total $ Vol.
June 2014 - Santa Clara County - Condos & Townhouse
Area/City
New Listings
Cur Inv
# of Closed Sales
Ave. DOM
Ave. Price
Med. Price
% LP Rec’d
Campbell
18
21
8
12
583,750
602,000
102.39
4,670,000
Cupertino
6
3
7
17
839,428
815,000
104.37
5,876,000
Gilroy
1
7
1
14
415,000
415,000
96.62
415,000
Los Altos
4
2
8
43
1,335,876
1,157,500
102.31
10,687,010
Los Gatos
14
9
11
13
859,436
885,000
102.62
9,453,800
Milpitas
19
27
20
19
575,354
572,500
102.78
11,507,090
Morgan Hill
10
16
4
14
468,749
465,000
101.09
1,874,999
Mountain View
26
18
37
15
764,213
775,000
108.14
28,275,888
Palo Alto
11
8
8
11
1,385,500
1,522,500
117.23
11,084,000
San Jose
274
381
237
22
482,303
457,000
102.68
114,305,863
Santa Clara
56
59
25
12
548,000
471,000
106.38
13,700,000
Saratoga
6
7
4
11
837,500
910,000
107.84
3,350,000
Sunnyvale
36
28
26
17
666,780
645,000
104.81
17,336,300
Summary
481
586
396
20
587,211
- -
104.35
232,535,950