PSAR Blog

Get ready, loosen up and make plans now to participate in this year’s PSAR 2019 REALTOR® Games. PSAR’s third annual PSAR REALTOR® Games will be held from 1 to 4 p.m., Friday, June 21, at Scobee Park, 2390 Boswell Road in Chula Vista’s EastLake community. Registration begins at noon, as well as the appreciation of sponsors. The games start at 1 p.m. sharp. Spectators are welcomed to attend and cheer for their favorite team. Food trucks will be on site.

The REALTOR® Games will feature teams competing in mental and physical challenges. The competitions will include agility activities, such as sack race, free-throw contest, balloon catch and cornhole, as well as mental challenges, including spelling bee, board puzzle and “REALTOR® Feud,” a game resembling TV’s “Family Feud.” Another competition will consist of “Jenga,” a game of skill featuring players taking turns removing one wooden block at a time from a tower constructed of several dozen blocks (the name Jenga is derived from a Swahili word meaning “build”).

This year’s proceeds will benefit three nonprofits, including South Bay Community Services and Unity 4 Orphan and Meals on Wheels San Diego County. In 2018, approximately 250 attendees helped generate $8,600 in donations to charities.

Once again, members of PSAR’s Charity Committee are organizing this year’s REALTOR® Games, including Robert Cromer, Laurie MacDonald, Angie West and Rhonda Bethard, to name a few.

“There is a lot of time, creativity and attention to detail that is given to this event,” said Cromer. “We encourage everyone to take the time and join us. It’s a wonderful feeling to know that we are going to raise a substantial amount of money for three extraordinary charities and touch the lives of their recipients through our donations.”

Sponsors of this year’s REALTOR® Games include The Village of Escaya, Homebridge Financial, Team Limon at Wallick & Volk, Guild Mortgage, Coldwell Banker West, Johnson Storage and Moving/United Van Lines, First American Home Warranty, Cardinal Financial Company, California Preferred Escrow, Liberty Mutual Insurance, New Venture Escrow, First American Title Co., Point Mortgage Corp., Ticor Title, Sketch Lab Co., Caliber Home Loans, In-Depth Real Estate Services Co., Staged Today-Sold Tomorrow, Corinthian Title & Escrow, Secure Funding Group, Lilly Molina of Coldwell Banker West and Marina Vista Escrow, along with Frida’s Cocina Food Truck, Buffao Wild Wings, Doggos Gus, La Cochinita.

Product, service and equipment sponsors include Preferred Home Inspections, Caffe Tazza, Fine Wood Finishing, Pacific Drain & Plumbing, Minuteman Press, Award Sign Company, William Fagan DJ and Elsa Flores Photography.

Entry fee is $250 per team for a team of five. Contestants will receive a 2019 REALTOR® Games event t-shirt featuring sponsor names and a free food truck lunch ticket. Spectator admission is free. For more information, visit https://blog.psar.org/realtorgames190621, or call PSAR at (619) 421-7811.

The PSAR Charity Committee consists of a wonderful group of caring PSAR members who are willing to share PSAR resources and talent within the community through outreach and service. Their goal is to provide the necessary support to make a positive charitable impact within the communities served by PSAR members. The volunteers serving on the PSAR Charity Committee evaluate and review requests from nonprofits in the community. Then, they select worthy charitable causes to support.

Scobee Park is named in honor of Francis R. “Dick” Scobee (1939-1986), who was a Challenger Spacecraft Commander aboard the ill-fated Space Shuttle Challenger, which suffered catastrophic booster failure at 73 seconds after the launch on Jan. 28, 1986.

PSAR and NSDCAR Members!  Get ready for your next listing with $59 lockboxes from PSAR service centers. PSAR is currently fully stocked with inventory in our Chula Vista, El Cajon and Clairemont offices. Through our shared service agreement with NSDCAR, PSAR can provide boxes and service to one another's members.

Bring your SentriLock Card and a friendly PSAR staff member will help register the lockbox to your name. Visit PSAR today and purchase a lockbox before these lock boxes fly off the shelf! 

When REALTORS® and affiliates speak in solidarity with one voice and work together with elected officials, then powerful alliances and strong communities can be formed resulting in a vibrant business environment and success in a free enterprise system.

Recently, several PSAR members went to Washington, D.C. to join thousands of other real estate professionals for the National Association of REALTORS® Mid-Year Legislative Meetings and Trade Expo. In his opening address, NAR President John Smaby told attendees that thousands of REALTORS® showing up at the nation’s capital sends a powerful message to politicians. “We mean business,” Smaby said. “Our business is not Republican. It’s not Democrat. My friends, we are the REALTOR® Party,” referring to NAR’s lobbying arm. Attendees cheered and applauded.

NAR is the single largest real estate trade group in the U.S., with nearly 1.3 million members, and widely considered one of the most effective advocacy organizations in the country. It is the second largest organization in terms of lobbying spending, behind the U.S. Chamber of Commerce. During the recent 2018 midterm elections, NAR poured $14.4 million into supporting 10 candidates, including six Republicans and four Democrats.

Among PSAR members who made the trip: Robert Calloway, 2019 President; Robert Cromer, 2019 president-elect; Bob Olivieri past president and Federal Political Coordinator and Nikki Coppa, past president; and, Richard D’Ascoli, CEO. Nikki also serves as a NAR Director appointed by PSAR, as well as 2019 Vice Chair of the NAR Risk Management Issues Committee.

Activities on the trip included meeting with San Diego members of Congress, including Duncan D. Hunter (R-50th,) Juan Vargas (D-51st), Susan Davis (D-53rd), Scott Peters (D-52nd) and Mike Levin (D-49th), as well as listening to President Trump, who became the first sitting U.S. President to speak live at the NAR event since George W. Bush in 2005.

“The congressmen were very open and receptive to the issues we brought to them,” said Robert Calloway. “They were knowledgeable about the things we were talking about. It was good to have a dialogue with them.”

Robert and Nikki also heard Mr. Trump’s speech. “The President is a real estate guy who understands our business,” said Robert. “He knows about over-burdensome regulations that can hinder land development and the bureaucracy that prohibits us from moving forward with addressing the housing shortage.”

“It was incredible to see the change and preparation necessary to have a live event featuring the President of the United States,” said Nikki. “One thing that really stuck with me was his comment about how special REALTORS® are.” Nikki said she was impressed with the President’s comments about the trustworthiness of REALTORS®.

According to a White House transcript of the speech, Mr. Trump said, “In what business do you have where you’re selling your home, and you leave the key under the mat so the broker can take anybody they want, even though you’re going to be away for three weeks, right? How many people trust people? You would only trust a great realtor to do that, right?”

During the roughly one-hour speech, Mr. Trump announced the end of steel and aluminum tariffs imposed on Mexico and Canada and discussed a wide range of issues including tax reform, regulation cuts, opportunity zones and unemployment.

Mr. Trump also said, “I’m honored to be here with the hardworking men and women who help millions of families live the American dream. You have some tremendously talented people in this room. I know this business well. I love this business. It’s in your blood. And, you have people who can do a job that very few people can do.

“When a young family needs to grow, when a new job sparks a new adventure in a brand, new beautiful city, when parents want to find the right neighborhood and schools for their children, Americans put our trust in you, our great REALTORS®. And that’s true.

“Home is where our hearts are. And all of you, as Americans, you find a home for the ones that you love the most. So, today, I want to thank all of you. This is a time of extraordinary opportunity for our country, And, as I said, I think our country is doing better now than we’ve ever done before, as an economy. And I think it’s going to get even better.”

NAR's invitation to speak, did not mean the real estate trade group would be endorsing Trump’s re-election. NAR said it does not endorse presidential candidates or donate to presidential campaigns through its Realtors Political Action Committee (RPAC). NAR said it has had a longstanding practice of inviting sitting presidents to speak at its annual conferences and 10 have taken the trade group up on its offer.

Bob Olivieri said he was pleased that Congress extended the Federal Flood Insurance Program (NFIP) until Sept. 30 while he was there in Washington, D.C. While NFIP isn’t a household name, it’s often the only flood insurance available in a given market. That’s important, because if a property is in a 100-year floodplain, lenders will typically require flood insurance as part of the mortgage approval process. This isn’t just an issue for waterfront homes or homes in the direct path of hurricanes. Many homeowners in San Diego County who live near large storm drains or drainage channels are required to have flood insurance. More than 5 million homeowners in 22,000 communities nationwide rely on the NFIP to provide flood insurance.

“The one issue at the top of our list, the State and Local Tax Deduction (SALT), is supported by most of the U.S. representatives who we talked to,” said Bob. “The ideas being tossed around are doubling the present $10,000 deduction limit for married couples, raising it to $15,000, and doubling it for married couples or eliminating it all together, which is not probable. Also, we would like to see the SALT limit and deductible mortgage interest cap indexed to inflation. This has a lot of support and puts those limits in line with other limits in the tax code.”

Also, during the PSAR trip to Washington, D.C., the House passed by a vote of 236-173 the Equality Act, which would broaden the definition of protected classes to include sex, sexual orientation and gender identity to characteristics protected by the 1964 Civil Rights Act. NAR was a strong advocate for this bill which strengthens fair housing.

Sales of existing homes remained muted statewide in April with the start of the spring homebuying season, according to the latest housing market report for home sales and prices from the California Association of REALTORS® (C.A.R).

Existing home sales in California in April 2019 was 4.8 percent lower than in April 2018. By contrast, in San Diego County, our year-over-year existing home sales for April 2019 climbed by 2.4 percent since last year.

April’s statewide seasonally adjusted sales figure of 396,760 units was down 0.1 percent from the 397,210 level in March and down 4.8 percent from home sales in April 2018 of 416,750. Sales remained below the 400,000 level for the ninth consecutive month and have fallen on a year-over-year basis for a full year. The statewide annualized sales figure represents what would be the total number of homes sold during 2109 if sales maintained the April pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

“Weak buyer demand, largely prompted by elevated home prices, is playing a role in the softening housing market,” said C.A.R. President Jared Martin. “However, with low interest rates, cooling competition and an increase in homes to choose from, buyers can take advantage of a more balanced housing market.”  

Even as demand weakened and home sales stumbled, the statewide median home price set another record high in April, hitting $602,920 and surpassing the previous high of $602,760 set last summer. April’s price was up 6.5 percent from $565,880 in March and up 3.2 percent from a revised $584,460 in April 2018. The year-over-year price growth rate was the strongest since October 2018.

In San Diego County in April 2019, the median single-family home sales price of $649,000 was 4 percent higher than the $623,800 sales price compared to March 2019 and 2.2 percent higher than the $635,000 figure in April 2018.

“While we started off the spring homebuying season on a down note, home sales in the upcoming months may fare better than the top-level numbers suggest,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “The year-over-year sales decrease was the smallest in nine months, and pending home sales increased for the second straight month after declining for more than two years. While we don’t expect a sharp sales rebound, we also don’t expect an acceleration in declines.”

Other key points from the April 2019 resale housing report included:

-- The median number of days it took to sell a California single-family home is increasing. Time on market fell from 25 days in March to 21 days in April as the homebuying season got underway. However, it took a median number of 15 days to sell a home in April 2018. Meanwhile, in San Diego County, the median number of days a home remained unsold on the market stood at 17 days in April 2019, compared to 19 days in March 2019, 22 days in February 2019 and 11 days in April 2018.

-- The median home price increased from a year ago in all regions statewide except the San Francisco Bay Area. Of the entire, nine-county Northern California region, only Napa County posted an increase in April of 3.3 percent, while San Mateo, Santa Clara and Sonoma recorded the largest price declines of 9.5 percent, 7.7 percent and 5.8 percent, respectively.

-- Conversely, home prices rose on a year-to-year basis across Southern California, with the exception of Ventura County, which was down 2.3 percent. Price growth remains strongest in the Inland Empire, where homes are most affordable, with prices in both Riverside and San Bernardino counties increasing more than 5 percent.

-- Encouragingly, the growth in active listings from the year prior decelerated for the fourth straight month. The number of homes available for sale increased only 10.8 percent from last April, but still enough to provide a much-needed supply of homes for sale. The growth in active listings has fallen from more than 30 percent at the end of 2018 suggesting that the market is becoming more balanced, rather than experiencing a full-scale exodus of sellers in California.

-- The Unsold Inventory Index (UII), which is a ratio of inventory over sales, dipped on a month-to-month basis but edged up on a year-over-year basis. The Unsold Inventory Index was 3.4 months in April, down from 3.6 months in March but up from 3.2 months in April 2018. The index measures the number of months it would take to sell the supply of homes on the market at the current sales rate. The jump in the UII from a year ago can be attributed to the moderate sales decline and the sharp increase in active listings.

-- The 30-year, fixed-mortgage interest rate averaged 4.14 percent in April, down from 4.47 percent in April 2018, according to Freddie Mac. The five-year, adjustable mortgage interest rate increased in April to an average of 3.75 percent from 3.66 in April 2018.

In other recent real estate and economic news, according to news reports:

-- According to CoreLogic real estate information service, the median price of a San Diego County home held steady in April, compared to the same month a year ago. The median price of a San Diego County home was $570,000 in April, the same as April 2018. In the past 12 months, the median hit a peak of $584,750 in August and a low of $532,000 in January. A total of 3,593 homes were sold in the county, down 3.4 percent from 3,718 during the same month a year ago. Still, that’s up from the past 11 months, which have seen an average drop of 12 percent.

-- A total of 20,074 new and resale houses and condos changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month, said CoreLogic. That was up 11.6 percent from 17,985 in March, and down 3.3 percent from 20,766 in April 2018.

-- According to the latest S&P CoreLogic Case-Shiller report, existing home price increases continue to slow both nationally and in San Diego County. The 20-city composite index checked in with a year-over-year gain of 2.7 percent in March, down from a year-over-year gain of 3 percent in February. San Diego County’s price increase only climbed 1.3 percent year-over-year in March. San Diego metro prices gains were the lowest in the nation for fourth month in a row on the 20-city index.

-- Nearly half of San Diego County’s largest working group are considering leaving in the next two years. Forty-four percent of the region’s working millennials said they are considering leaving, with the primary reason being housing costs, said a recent survey from the San Diego Regional Chamber Foundation. In partnership with the City of San Diego, Sempra Energy and others, the researchers interviewed 397 San Diego County working millennials for the report. The purpose of the study was to identify millennial working habits, and how employers could make their experience more satisfying. But, the chamber acknowledged the answers about leaving were among the most dramatic findings. Millennials, roughly ages 23 to 38, make up 39.7 percent of San Diego County’s workforce. It is followed by Generation X, 39 to 54 years old, at 31.6 percent, and baby boomers, 55 to 73 years old, at 22.1 percent.

-- San Diego posted the eighth largest population increase between July 1, 2017 and July 1, 2018, among cities with populations of 50,000 or more, according to the U.S. Census Bureau. During the 12-month period, the population of “America’s Finest City” grew by 11,549 people, a near 1 percent increase from the previous year. Phoenix saw the largest population increase in the country during the period, adding 25,288 people. San Diego was the only city in California to make the top 10 for largest population gains in the latest report, while Texas had four cities make the top 10. San Antonio and Fort Worth ranked second and third in population growth, rising by 20,824 and 19,552, respectively.

-- The personal income of residents in the San Diego metropolitan area grew by 2.3 percent, below the national average, from 2016 to 2017, said the Bureau of Economic Analysis. That was below the nationwide increase of 2.6 percent. Real personal income is a catch-all way of looking at how much money Americans earn in a year. Among the largest metro areas with a population of more than 2 million, New York-Newark residents had the biggest increase at 4.3 percent, and Los Angeles-Anaheim had the least at 1.6 percent.

-- San DiegoCounty's unadjusted unemployment rate dropped to an even three percent in April 2019, with both farm and nonfarm industries showing job gains, according to the California Employment Development Department (EDD). The April rate, down from a revised 3.6 percent in March and a tick below the April 2018 rate of 3.1 percent, is at its lowest point since May 2018. The educational and health services industry added 7,600 jobs from April 2018 to last month, the highest year-over-year gain of any industry. Government and manufacturing jobs each increased by more than 3,000 jobs. The trade, transportation and utilities industry showed the largest year-over-year job decrease, losing 2,800 jobs. The information and financial activities industries also lost 500 and 100 jobs, respectively.

CHANGE THE LANDSCAPE OF YOUR REAL ESTATE BUSINESS - GO GLOBAL!

EVENT DATE & TIME
August 2, 2019
1:00 PM - 4:00 PM

EVENT LOCATION
PSAR | South Service Center
880 Canarios Ct. #100
Chula Vista, CA 91910

BUILDER FORUM
- Meet Builders, Brokers & Agents from other Countries
- Learn and earn as you Network with International Agents
- Enjoy Free Food & Live Music

FREE TO ATTEND | RSVP REQUIRED
1PM - 2PM ......... Forum Begins
2PM - 4PM ......... Food & Networking

SPONSORED BY 
- PSAR Global Real Estate Council
- Pacific Southwest Association of REALTORS®

Congratulations to PSAR. Your Association has been honored for its leadership role in a housing initiative that is continuing to assist disabled military veterans achieve the American dream of homeownership.

The San Diego County Taxpayers Association (SDCTA) Award, a watchdog organization that promotes accountable, cost-effective and efficient government, recently presented a Golden Watchdog Award jointly to PSAR, the San Diego chapter of the Veterans Association of Real Estate Professionals (VAREP) and the San Diego County Assessor-Recorder-County Clerk’s Office.

The SDCTA award, called “Better Serving 100% Disabled Veterans,” recognized the efforts by PSAR officials to assist more than 8,000 local disabled veterans in 2018, an increase of 28 percent from the previous year. The award, top honors in the “Public-Private Partnership” category, was presented May 16 at the Hilton Bayfront Hotel. SDCTA’s 24th annual Golden Watchdog and Fleece Awards recognized the best and worst in local government spending, decision-making and efficiency in San Diego County.

PSAR 2019 President Robert Calloway played a key role in assisting Ernie Dronenburg, San Diego County Assessor-Recorder-County Clerk, on the program that is helping disabled military veterans achieve homeownership. Initiating the program was Jordan Marks, Taxpayers’ Rights Advocate with the Assessor’s Office. 

The SDCTA award said the Assessor’s Office partnered with representatives from the disabled veterans community and PSAR to educate the community about a little-used California property tax exemption for disabled veterans and their spouses. Under an initiative that promoted homeownership, housing affordability and property tax refunds, the County served more than 1,400 more disabled veterans than the previous year. As a result of the program, disabled veteran homeowners benefited from $1.9 million annually in annual property tax savings.

The little-known California property tax exemption, California Constitution and Revenue and Taxation Code Section 205.5, provides a property tax exemption on the home of some disabled veterans or an unmarried spouse of a deceased disabled veteran. The exemption is available to a disabled veteran who, because of an injury incurred in military service, is blind in both eyes, or has lost the use of two or more limbs, or is totally disabled as determined by the VA or by the military service from which the veteran was discharged.

The SDCTA entry for the Golden Watchdog award said: “To increase program participation, the Assessor’s Office partnered with Robert Calloway, a Disabled Veteran Property Tax Exemption (DVET) recipient, and his two organizations, including PSAR and VAREP, to educate REALTORS®, veterans organizations and the community about this benefit for qualified disabled veterans and their spouses. This program, started in March 2018, was conducted without using any additional taxpayer dollars. This program leveraged private partnerships, speakers from the Assessor’s Office, media outreach, cross-county department education and resources from already budgeted campaigns.

SDCTA said through Calloway’s leadership and partnership with the Assessor’s Taxpayers’ Rights Office, a campaign demonstrating collaboration among the public and private sector and promoting the DVET exemption resulted in a savings for qualified veterans or spouses of up to $2,002 annually off their property taxes. This program helps veterans achieve homeownership, allows them to stay in their homes and, in some cases, receive refunds of close to $10,000 for property taxes.

Calloway, who serves as an advisor to the Assessor’s Office on disabled veterans issues, said, “This award from the Taxpayers Association is a great honor for PSAR, VAREP and the overall real estate community. We are ready to help local government officials anytime with advice and assistance that will help all homeowners, including disabled military veterans who have given so much and risked so much in service of the nation.”

“It was an honor and a pleasure working with Robert and PSAR,” said Dronenburg, who has served as County Assessor since 2010. “It was especially gratifying to help disabled veterans, these modern-day heroes who have selflessly shared so much and have sacrificed some of the best years of their lives, putting themselves in harm’s way to fight for liberty and keep everyone safe.”

As the County Assessor, Dronenburg oversees assessing the value of real estate and personal property, which in San Diego includes planes and boats. Every county resident who owns property or rents is affected by what happens at Dronenburg’s office. He oversees assessing the value of real estate and personal property, which in San Diego includes planes and boats. Property taxes constitute the largest share of revenue for the county. His work also involves registering business names and issuing marriage licenses, birth and death certificates. The office has a $71 million budget with 405 employees and five offices in San Diego County. Dronenburg was re-elected in June 2014, when he received 59 percent of the vote, and in June 2018, when he received 63 percent of the vote, resulting in no runoff elections either year. 

For the past 73 years, the SDCTA has been providing information to help educate the public and safe the region’s taxpayers millions. Public opinion polls consistently rate the SDCTA as the most “influential” and “trusted” public policy institution in San Diego.

Photo captions:

-- PSAR 2019 President Robert Calloway poses with Ernie Dronenburg, San Diego County Assessor-Recorder-County Clerk (wearing bow tie) and William Jimenez, Division Chief, County Assessor’s Office.

-- PSAR 2019 President Robert Calloway poses with San Diego County Assessor’s Office staff who worked with San Diego disabled military veterans on the Disabled Veteran Property Tax Exemption.

By Ditas Yamane

Being in the real estate industry, the business commands a lot of time that makes life busy. Because of our irregular schedules as real estate professionals, it’s hard to find the time to volunteer and it’s easy to make the excuse of not being able to volunteer.

However, I’m here to tell you that sharing a little bit of your time can go a long way. Robert Calloway, as PSAR President, declared this year’s PSAR theme as “Salute to Service.” And I believe that this theme involves all of us at PSAR.

Volunteering is part of my existence in life. For me, it provides a sense of purpose and a sense of fulfillment that makes me happy. Being kind and helping people in need, improves your health and gives you happiness. 

Growing up very poor in a small town in the Philippines, often times, there was no help available for us. So, I made a promise that when I grow up, I would help others in my own little way. I studied hard, worked hard then along the way, I started to volunteer in my community. I also have encouraged my siblings and now my children to volunteer by giving back and helping people in need. As a result, they have built relationships with other volunteers and are happy to be a part of improving the quality of life.

My volunteerism has helped me grow in so many ways as a person. I have more confidence and have built great relationships, both personal and business aspects of my life. So, however, busy my life becomes, I set-aside time to volunteer and help. As Margaret Mead said, “Never doubt that a small group of thoughtful and committed citizens can change the world.”

So, I encourage you to volunteer at PSAR. Start by choosing a committee that you have interest in and put a little time, effort and commitment. It’s a good way to use your extra time to share your skills and talents and I guarantee you that the return of your little investment will be priceless.

By volunteering at PSAR, you will learn new skills, meet new friends, develop friendships and build network.

Volunteer at PSAR and you’ll learn new things and you’ll get information and know about available resources to use in your business and share to others.

Volunteer at PSAR and your voice will be heard in helping to grow the PSAR community. It will give you the opportunity to advocate for issues and concerns that you believe is right and are in line with PSAR’s mission to change for the better.

Volunteering means you will have a seat at the table; otherwise you’re on the menu!

Believe me when I say that the rewards of volunteering at PSAR are endless. The best time to volunteer is now.

Come-on fellow Real Estate Professionals. Come and volunteer and help us grow.

Together we can do it.

We are PSAR!

Ditas Yamane has been in the real estate business since 2002.

This course is designed for the agent who is looking to work in Commercial Investment Property! During this 2-hour course you will learn:

• The language of the investor and what to say to show you're knowledgeable.

• Terminology such as GRM, CAP, ROE, ROI, OM, C.A.R., A.I.R., L.O.I., expenses and vacancy factors. 

• Dynamic scripts for communicating with Commercial Brokers. 

• Strategies to help Sellers understand that they could be getting a better Return on Equity.

• Strategies to help Buyers understand that they could be getting a better Return on Investment.

This course will teach you how to effectively stand out, get business, and get paid!

Event Details: Thursday, June 13th, 2019
Time: 1 PM - 3PM | PSAR East County Service Center
1150 Broadway #100, El Cajon, 92021

Cost: $25

Space is limited.