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OC REALTORS® Blog

News and Information to Keep You a Step Ahead!

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Do you work with global buyers? Did you know that most international buyers are from Canada, followed closely by China? C.A.R. recently conducted a webinar to discuss the results of their survey of international buyers.

If you missed it, you can watch the recorded webinar here and access the PowerPoint slides here

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Pending home sales rose from December’s extreme lows and posted month-to-month and year-to-year increases in January, according to C.A.R.  California pending home sales increased in January, with the Pending Home Sales Index (PHSI) rising 26.7 percent from 70.9 in December to 89.8 in January, based on signed contracts.  The month-to-month increase was better than the long-run average increase of 16.3 percent observed in the last six years, and is attributed primarily to seasonal factors. 

The share of equity sales – or non-distressed property sales – fell for the third straight month in January.  Equity sales made up 88 percent of all sales in January, down from 89.8 percent recorded in December.  Equity sales have been more than 80 percent of total sales since July 2013 and have risen at or near 90 percent since mid-2014. Equity sales made up 84.3 percent of sales in January 2014.

 

Additionally, California REALTORS® responding to C.A.R.’s January Market Pulse Survey saw more price reductions and an increase in open house traffic, compared to a year ago.  The Market Pulse Survey is a new monthly online survey of more than 300 California REALTORS® to measure sentiment about their last closed transaction and business activity for the previous month and the last year. 

More from C.A.R.

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Watch the latest installment of our OC FastStats Market Update:

 

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Do you want to help shape the future of OCAR? Do you feel called to serve?

There are five (5) three-year and one (1) one-year Director positions open for the 2016-2018 Orange County Association of REALTORS® Board of Directors. To be eligible to serve as an OCAR Director, all candidates must: 

  • Be an OCAR REALTOR® member in good standing continuously during the 24 months immediately prior to being seated
  • Have completed a 1-year term of service on any one of OCAR’s committees within the past 2 years and have satisfied the attendance requirements for service on that committee. Service is defined as having attended a minimum of 75% of the regular or special meetings of the committee during the year
  • Be in good standing with the California Bureau of Real Estate (CalBRE) and not have any disciplinary issues, suspensions, or other findings of a violation of the real estate licensing laws or regulations pending

If these requirements have been met, candidates may submit their names, along with their photo (required), to the Nominating Committee by completing and submitting this form by April 9.

An Election Information Meeting will be held at OCAR's Laguna Hills office on Monday, March 30 at 11:00 A.M. 

Voting begins on Monday, May 11 at 8:00 A.M. and concludes on Tuesday, May 26 at 5:00 P.M.

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Monday, March 23 

11:00 A.M. Check-In || 11:30 A.M. Lunch || 12:00 P.M. Program 
UCI Student Center, A311 Student Center – Pacific Room D, Irvine, 92697

Real estate economist Gary Watts will provide his market insights, 2015 OCAR President Rita Tayenaka will comment on the state of the Association, and CRMLS CEO Art Carter will discuss the future of the MLS. 

A delicious lunch and free parking will be provided to attendees with advanced registration. Thank you to our generous parking sponsors, Alex del Toro of The Termite Guy, Amy Tran of ValuEscrow and Uly Kim of PrimeLending.

Seating for this event with lunch and free parking is now full.

If you'd like to be placed on the waitlist to watch the market update (without complementary lunch and parking), you may email Joanne Frank.

If you have already registered, a $45 no-show will apply if you do not cancel your registration prior to the event. Email your cancellation to Joanne Frank.

 

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Here's another way to maximize OC FastStats in your marketing materials. We'll show you how to personalize the market reports with your branding using Adobe Acrobat Professional. We'll edit out OCAR's logo and insert your image and contact information.

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REALTOR® Magazine and the Good Neighbor Society are seeking nominees for Volunteering Works, a grant and mentoring program for REALTORS® who volunteer in their communities. Nominees should be REALTORS® who lead a fledgling charitable effort and would value working with a mentor. Five people will be selected to receive $1,000 seed grants and a year of one-on-one mentoring from a past winner of the Good Neighbor Awards. Entry deadline is February 27.

Click here for more information and to access the application.

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Calling all amazing volunteers! REALTOR® Magazine is seeking nominees for the Good Neighbor Awards, which recognize REALTORS® who have made an extraordinary impact on their communities through volunteer work. Entries must be received by May 15. For more info and an entry form, go to www.REALTOR.org/gna or see the March/April issue of REALTOR® Magazine. 

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The majority of metropolitan areas saw steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market, NAR says in its latest quarterly metro price report. The median existing single-family home price increased in 86 percent of measured markets, with 150 out of 175 metropolitan statistical areas showing gains based on closings in the fourth quarter compared with the fourth quarter of 2013. 

Lawrence Yun, NAR chief economist, says improved sales activity compared to a year ago and tightening supply contributed to faster price appreciation in the final quarter of 2014. “Home prices in metro areas throughout the country continue to show solid price growth, up 25 percent over the past three years on average,” he said. “This is good news for current homeowners but remains a challenge for buyers who are seeing home prices continue to outpace their wages. Low interest rates helped preserve affordability last quarter, but it’ll take stronger income gains and more housing supply to help meet the pent-up demand for buying.”

See the data for yourself...

(Source: National Association of REALTORS®)

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REALTORS® say improving economic conditions and buyer urgency point to better market in 2015.

Pending home sales posted higher on a year-over-year basis for the first time since January 2013 and as expected, declined from the previous month due primarily to a seasonal slowdown toward the end of the year, according to C.A.R. 

Additionally, with the specter of a better economy, greater job growth, and increasing household formation, C.A.R.’s new Market Pulse Survey found that many REALTORS® expect market conditions to improve in 2015, as does C.A.R.  Review the Market Pulse Survey and the full press release here.

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OCAR offers members and their clients and customers a vehicle to economically expedite ethics complaints without going to court. Ethics complaints that are brought before the board give those parties involved an opportunity to be educated about the Code. In addition, REALTORS® are judged by their peers as opposed to other individuals who may be far less familiar with the practices and customs of the real estate industry.

This video helps de-mystify the process for filing a Grievance complaint: 

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Is Aliso Viejo your farm? The City of Aliso Viejo has commissioned this video highlighting the community's features. It could serve as a great way to introduce the city to prospective home buyers. Please share in your marketing materials:

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Our latest OC FastStats market update is now available.  Share this information with your clients via social media or even embed on your website and blog.  We strive to keep you a step ahead with the latest market data!

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In this workshop on Jan. 22, you will learn from four experts who will share their expertise on business planning, time management, and goal setting. The panel discussion, moderated by Bob Wolff, will feature successful agents and managers selected by OCAR's Education Committee. These topics will be covered:

  • Scheduling: work vs. personal vs. family time
  • Learn the art of scheduling with sellers and buyers
  • How to formulate a strong business plan
  • How to minimize “time wasters” in your real estate profession

Sign up via My Account (it's FREE)

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Where are sales and interest rates heading? And what are the potential speed bumps ahead? NAR Chief Economist Lawrence Yun expects existing-home sales to rise about 7 percent in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices. Watch his forecast: 

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When joining OCAR for the first time, the Association will offer a one-time waiver of OCAR local dues and OCAR processing fees for members on Active Military Duty and/or their spouses. Also, when joining OCAR for the first time, the Association will offer a one-time waiver of OCAR processing fees and a one-time, half-off of OCAR dues to U.S. Military Veterans. We'll need proof of Active Duty or Veteran status at time of joining.

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zipForm® Mobile is now free for C.A.R. members in 2015. Quickly create new transactions on your tablet or smartphone. With the built-in TouchSign™ feature, you can have clients sign directly on your tablet! zipLogix Digital Ink® and DocuSign® are integrated into zipForm® Mobile, making it easy to send your documents off for digital signature.

To begin using zipForm® Mobile, follow these steps:

  1. From your mobile device, open the Internet and go to www.zipformonline.com
  2. Choose "Use C.A.R. Credentials" from the drop-down menu*
  3. Enter your username and password to the www.car.org website
  4. Click Login

*Broker and Team Edition users, choose "Use zipForm credentials"

iPhone and iPad users:

You may download the "zipForm® Mobile Companion" App instead of opening an internet browser. 

To learn more about zipForm® Mobile, attend a free webinar!

C.A.R. knows the importance of being mobile and keeping you connected to important contracts anywhere your schedule takes you. Visit on.car.org/zfmobile or register to attend one of C.A.R.'s FREE upcoming webinars:

 

 

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Looking for a last minute tax deduction? Consider giving to the OCAR Cares Foundation! Those who donate $500 or more to the OCAR Cares Foundation before February 28, 2015, will be recognized as members of the OCAR Cares Founders Circle at the Annual Membership Meeting. This is a one-time opportunity. 

Donate Now! 

Learn more about the OCAR Cares Foundation...

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With a new year, new laws go into effect. The California Association of REALTORS® legal department has put together a comprehensive chart of new laws that affect REALTORS® and a brief summary of each. Topics include Broker record retention, team names, and agency disclosures. Check it out here.

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With the launch of OC FastStats next month, we'll deliver monthly market stats and engaging videos like this one. Share the video on your social media.

More information about OC FastStats

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