UNDERSTANDING CRITICAL CHANGES IN THE TAX CODE: Tax, CPA Seminar

Posted by Paige Campbell on Feb 28, 2019 5:37:16 PM

TAKE ADVANTAGE OF CHANGES IN THE TAX CODE_Updated031219 

PSAR's Global Real Estate Council will be hosting a seminar reviewing the changes to the tax code covering How 2019 Changes will affect 2020 Taxes, Changes to the Standard Deduction, Tax-deferred exchanges, Phaseout of Child Tax Credit, Prop 60 and 90, and more.

This seminar will be instructed by Marizel Secuya-De Castro, CMA, CPA and Jordan Z. Marks, Esq, Assessor/Recorder/County Clerk. 

It will be held on Tuesday, March 26th from 10:15 AM - 11:30 AM at our Central Service Center located at 4340 Genesee Ave. #203, San Diego, 92117. 

   REGISTER HERE   

 

Topics: Education

Risk Management Advisory - REALTOR Broker Only Event

Posted by Paige Campbell on Feb 28, 2019 2:34:29 PM

Broker Advisory (1)

Risk can be expensive for any real estate company. Attend this advisory to learn about issues other Brokers have faced so that you can avoid making the same mistakes. These meetings will be facilitated by Broker, Nikki Coppa. Ms. Coppa currently serves on numerous leadership committees for both the C.A.R and NAR.

   Register Here for May   

   Register Here for October  

Topics: Education, Brokers/Managers

March CRMLS Training Schedule

Posted by Paige Campbell on Feb 27, 2019 11:53:51 AM

Join us at the PSAR Service Center closest to you for training in Paragon Advanced Searches, Paragon Hotsheets, Tours and Open Houses, Homesnap Pro App and InfoSparks Market Statistics!

Register for various classes below. 

Learn how to create enhanced search templates and set them as your default, and how to search by features, map, multiple addresses, and key words.

Central: Thu, March 14 from 10 AM - 11 AM
Register Here

East: Wed, March 20 from 10 AM - 11 AM
Register Here

South: Tue, March 26 from 10 AM - 11 AM
Register Here


Learn how to build and save your Hotsheets, choose the best report to show the results, how to search for properties on a Broker Tour/Caravan or Open House, and how to add your properties to one or both.

Central: Thu, March 14 from 11 AM - 12 PM
Register Here

East: Wed, March 20 from 11 AM - 12 PM
Register Here

South: Tue, March 26 from 11 AM - 12 PM 
Register Here


Search for listings, generate Rapid CMA reports, communicate with clients and other agents, and photograph homes to learn valuable property data about them.

Central: Thu, March 14 from 1 PM - 2 PM
Register Here

East: Wed, March 20 from 1 PM - 2 PM
Register Here

South: Tue, March 26 from 1 PM - 2 PM 
Register Here

 


Search for listings, generate Rapid CMA reports, communicate with clients and other agents, and photograph homes to learn valuable property data about them.

Central: Thu, March 14 from 2 PM - 3 PM
Register Here

East: Wed, March 20 from 2 PM - 3 PM
Register Here

South: Tue, March 26 from 2 PM - 3 PM 
Register Here

Topics: Education, CRMLS

Home Sales in California Fall to Lowest Level in Over 10 years, says C.A.R.

Posted by Rick Griffin on Feb 22, 2019 2:23:31 PM
Chart for 411 - Feb 22 (1)

California home sales fell to the lowest level in more than 10 years in January 2019, according to the latest housing market report for home sales and prices from the California Association of REALTORS® (C.A.R). Housing demand in the state remained subdued for the ninth consecutive month in January as economic and market uncertainties sent home sales to their lowest level since April 2008, said C.A.R.

Existing, single-family home sales statewide totaled 357,730 in January on a seasonally adjusted annualized rate, down 3.9 percent from the revised 372,260 in December and down 12.6 percent from January 2018 of 409,520. January marked the ninth consecutive month of decline and the sixth month in a row that sales were below 400,000, dipping to the lowest level since April 2008.

Sales in San Diego in January 2019 were down 17 percent from December and 10 percent lower from January 2018, according to C.A.R.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 357,730 units in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the January pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

“California continued to move toward a more balanced market as we see buyers having greater negotiating power and sellers making concessions to get their homes sold as inventory grows,” said C.A.R. President Jared Martin. “While interest rates have dropped down to the lowest point in 10 months, potential buyers are putting their homeownership plans on hold as they wait out further price adjustments.”

C.A.R. said the statewide median home price declined to $538,690 in January 2019, which was down 3.4 percent from $557,600 in December and up 2.1 percent from a revised $527,780 in January 2018.  

In San Diego County in January 2019, the median home price was $610,000, which was 1.4 percent lower than the $618,500 figure for December 2018 and 3.4 percent higher than the $590,000 figure for January 2018.

“While we expected the federal government shutdown during most of January to temporarily interrupt closings because of a delay in loan approvals and income verifications, the impact on January’s home sales was minimal,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “The decline in sales was more indicative of demand side issues and was broad and across all price categories and regions of the state. Moreover, growing inventory over the past few months has not translated into more sales.”

Other key points from C.A.R.’s January 2019 resale housing report included:

-- The median number of days it took to sell a California single-family home rose from 27 days in January 2018 to 37 days in January 2019, compared to 32 days in December 2018. Meanwhile, in San Diego County, the median number of days a home remained unsold on the market rose from 21 days in January 2018 to 28 days in January 2019, compared to 27 days in December 2018. 

-- Statewide active listings rose for the 10th consecutive month in January after nearly three straight years of declines, increasing 27 percent from the previous year. All major regions recorded an increase in active listings, with the Bay Area posting the highest increase at 57 percent, followed by Southern California (29.7 percent), Central Valley (19.5 percent) and the Central Coast (14.5 percent).

-- The Unsold Inventory Index (UII), which is a ratio of inventory over sales, increased year-to-year from 3.6 months in January 2018 to 4.6 months in January 2019. 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 double-digit sales decline and the sharp increase in active listings.

-- Forty of the 51 counties reported by C.A.R. posted a sales decline in January with an average year-over-year sales decline of nearly 19 percent. Twenty-eight counties declined by double-digits on an annual basis, and 10 counties experienced an increase in sales from a year ago.

-- The 30-year, fixed-mortgage interest rate averaged 4.46 percent in January, up from 4.03 percent in January 2018, according to Freddie Mac. The five-year, adjustable mortgage interest rate also increased in January to an average of 3.91 percent from 3.47 from January 2018.

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

-- A new LendingTree report found that 63 percent of homebuyers in San Diego County last year shopped around for a mortgage before settling on a home. The report also found that just 39 percent of the buyers had good or excellent credit, and the typical down payment was 12 percent of the purchase price. LendingTree ranked the 50 largest metropolitan areas in the U.S. based on an average of the city’s rank in three categories that contribute to the competitiveness of homebuyers in an area. Based on shopping for a mortgage, credit and the down payment percentage, Denver, Los Angeles, and Portland, Ore., have the most competitive buyers in the country. Buyers in these areas have higher than average credit scores and the ability to put down a larger down payment.

-- San Diego's Real Housing Price Index declined at the fifth fastest rate nationwide in November 2018 at 0.1 percent, according to First American Financial Corp. While the decline may seem marginal, the rate of that drop was exceeded only by San Jose (with a 0.7 percent decline), Boston (0.4 percent), Portland, Ore. (0.2 percent) and Pittsburgh (0.2 percent). Seattle tied San Diego with a 0.1 percent decline. 

-- According to S&P CoreLogic Case-Shiller, San Diego’s home prices rose 3.32 percent in 2018, the third slowest of the 20 cities covered by the index. National home prices were up 5.2 percent in a year, with Las Vegas leading the pack with a 12 percent gain.

-- According to a Zillow report, San Diego County experienced the third-highest year-over-year jump in housing inventory in the U.S. in January. Zillow said San Diego saw its year-over-year “for sale” inventory climb 31.9 percent in January to 9,810 units. Inventory has increased the most in five West Coast markets, giving home shoppers more options and ever-so-slowly tilting the market toward buyers, Zillow said. On an annual basis, inventory grew 42.9 percent in San Jose, 36.9 percent in Seattle, 29.1 percent in Los Angeles and 25 percent in San Francisco.

-- Also according to Zillow, a declining percentage of existing homes have been selling above the asking price nationally and San Diego County is no exception. Zillow found that just 17.4 percent of existing homes in San Diego County sold above their asking price in November 2018, and just 16.4 percent sold above their asking price in December 2018. An average of 29.9 percent of existing homes sold above their asking price in San Diego County in 2017, while that number dropped to 25.7 percent in 2018, Zillow said.

-- According to Redfin, San Diego County was the third least affordable housing market in the U.S. for millennials in 2018. While the median household income for a San Diego millennial was $78,433, the median priced home was only affordable to 24.3 percent of those households, Redfin found.

-- Also according to Redfin, home affordability is declining in San Diego despite more inventory. Redfin reported there were 10 percent more homes for sale in San Diego County in 2018 compared to 2017, but the number of affordable homes for sale fell 16 percent. The number of homes affordable to a San Diego household earning the median income in 2018 dropped to 22 percent. Redfin also said more users conducted online searches for San Diego homes than searches by local residents for homes outside the county in 2018.

-- Quinnipiac University's recent California-specific poll, conducted Jan. 30 to Feb. 4, recently found that 43 percent of the 912 Californians surveyed said they don’t make enough money to live in the state. Also, Quinnipiac found that well over half of younger California voters, 61 percent of the respondents 18 to 34 years old, say they can’t afford to live in the Golden State.

-- The U.S. unemployment rate has dropped to 3.7 percent, the lowest in nearly 50 years, according to the Bureau of Labor Statistics. Also, average earnings rose 8 cents, to $27.24 per hour in September 2018.

Topics: Education, Market Information, Industry

NAR Green Designation Course to take place in San Diego

Posted by Paige Campbell on Feb 21, 2019 3:44:38 PM

nar greenMore home buyers are demanding green and energy-saving features in their next homes.
Are you prepared to assist them? Gain a competitive advantage and learn how to become your clients’ go-to resource for
 
buying or selling a more efficient, money-saving, healthy home. 

Learn More or Register for the course HERE

A two-day course in San Diego on March 6th and 7th at the SDG&E Innovation Center. 
Day 1 Topic: The Resource-Efficient Home - Retrofits, Remodels, Renovations, and New Home Construction
Day 2 Topic: Representing Buyers and Sellers of Resource Efficient Homes

Details: 
Location: SDG&E Innovation Center 
When? March 6th and 7th, 2019 from 9 AM - 5PM
Contact Phone Number for Information: 619-544-1300
Cost: FREE for PSAR Members

Earning NAR's Green Designation 
Upon completion of the two required courses, you will have achieved GREEN candidate status, a one-year period during which you must fulfill the educational and experiential requirements to earn NAR's Green Designation awarded by the Green REsource Council.

Continuing Education Units approved by the California Bureau of Real Estate
Upon completion of the two required courses and successfully passing each exam with 80%, you will receive 16 Continuing Education Units approved by the California Bureau of Real Estate.

Prerequisites
Must be a licensed Realtor in the State of California in order to receive CalBRE Credit for attending these courses.

Fees and Registration
Thanks to the generous support of San Diego Gas & Electric® there is no registration fee for this training.

Requirements for the NAR Green Designation certification

  • Attendance - Participants must attend all two (2) training days. 
  • Submit a member application for NAR's Green Designation.
  • Maintain active and good membership status with the Green REsource Council and the National Association of REALTORS®.

Topics: Education

Apps that are a REALTORS best friend - Wake Up YPN

Posted by Paige Campbell on Feb 19, 2019 5:41:15 PM

Wake up ypn_EventbriteJoin the YPN as they tour an 8,400 square foot home and give you insight on all the apps you should be using as a REALTOR®. 

Free Pastries and Coffee will be served!

Details: 
                                                                                      When? Friday, March 15th from 8:30 - 9:30 AM
                                                                                      Where? 364 Corral Ct., Bonita, 91902

REGISTER HERE FOR THE EVENT!

Thank You to the Wake Up YPN Sponsors: Ryan Turner with Sunrun and Michelle Limon with Wallick & Volk and to our Annual YPN Sponsors: Ted Przybylek with RanchoTed, Zoe Khetani with Naval Federal Credit Union and The Inspector's Company. 

Topics: YPN, Events

Does your client earn enough to afford a median-priced home?

Posted by Rick Griffin on Feb 15, 2019 1:49:06 PM

Housing affordability BLOGLower seasonal home prices allowed more Californians to afford a home purchase in the fourth quarter of 2018, compared to the previous quarter, but higher interest rates pushed affordability lower compared to the previous year, according to the California Association of REALTORS®’ (C.A.R.) “Housing Affordability Index” (HAI).

 

C.A.R. said 28 percent of California households could afford to purchase the existing $564,270 median-priced home in the fourth quarter of 2018, which was up from 27 percent in third quarter of 2018 but down from 29 percent a year ago.

 

In San Diego County, only 24 percent of local households could afford to purchase the $625,950 median-priced home in the 2018 fourth quarter, up from 23 percent in the 2018 third quarter but down from 26 percent a year ago. 

"Affordability has been challenging the past few years in San Diego County. We’re facing a soft market right now in San Diego as prices remain flat while some buyers are remaining on the sidelines,” said Robert Calloway, 2019 PSAR President. “However, the market fundamentals, such as job growth, income growth and household formation, are still strong. Mortgage rates are down slightly and buyers are looking for deals because the time on market has gone up which has increased the housing supply, but they're no longer fighting each other tooth and nail to get in the front door.”

C.A.R. said its index has been below 30 percent for six of the past eight quarters. California’s housing affordability index hit a peak of 56 percent in the first quarter of 2012.

C.A.R.’s HAI measures the percentage of all households that can afford to purchase a median-priced, single-family home in California. The index is considered the most fundamental measure of housing well-being for homebuyers in the state.

To afford to qualify to purchase the statewide median-priced, single-family home of $564,270 in the fourth quarter 2018, a household would need a minimum annual income of $122,340 to make the necessary monthly payments of $3,060. The monthly payment, including taxes and insurance on a 30-year, fixed-rate loan, assumes a 20 percent down payment and an effective composite mortgage interest rate of 4.95 percent. The effective composite interest rate was 4.77 percent in third-quarter 2018 and 4.17 percent in fourth-quarter 2017. 

In San Diego County, C.A. R. said a minimum annual income of $135,710 would be needed to make monthly payments of $3,390 on a 4.95 percent interest rate mortgage loan.

“One of the biggest things with the affordability of homes here in San Diego is typically household income levels, but we’re in a more favorable position when compared to other markets like the Bay Area and the Silicon Valley,” said Calloway. “Too many builders have focused on luxury homes, and there hasn't been enough construction of affordable starter homes. Fortunately, recent inventory increases and the slowdown in house price appreciation is good news for home buyers.”

C.A.R. also said housing affordability for condominiums and townhomes edged up in fourth-quarter 2018 compared to the previous quarter with 37 percent of California households earning the minimum income to qualify for the purchase of a $460,000 median-priced condominium/townhome, up from 36 percent in the third quarter. An annual income of $99,730 was required to make monthly payments of $2,490. Thirty-eight percent of households could afford to buy a condominium-townhome a year ago.

Compared with California, more than half of the nation’s households (54 percent) could afford to purchase a $257,600 median-priced home, which required a minimum annual income of $55,850 to make monthly payments of $1,400.

Other key points from C.A.R.’s fourth-quarter 2018 Housing Affordability report included:

-- Housing affordability improved from fourth-quarter 2017 in 10 tracked counties and declined in 30 counties. Affordability in eight counties remained flat.

-- All but one county in the Southern California region posted a decrease in affordability compared to a year ago. Affordability declined in Los Angeles, Orange, Riverside, San Bernardino and San Diego counties. Only Ventura County recorded an improvement.

-- During the fourth quarter of 2018, the most affordable counties in California were Lassen (66 percent), Kern (53 percent) and Kings and Siskiyou (both at 50 percent). The minimum annual income needed to qualify for a home in these counties was $52,030 or less.

-- Mono (12 percent), Santa Cruz (12 percent), San Mateo (15 percent), San Francisco (15 percent) and Santa Clara (18 percent) counties were the least affordable areas in the state. San Francisco and San Mateo counties had the highest minimum qualifying incomes in the state. An annual income of $326,290 was needed to purchase a home in San Francisco County, and an annual income of $329,300 was required in San Mateo County.

Topics: Market Information, Industry

How to take better photos with your digital camera or cell phone

Posted by Paige Campbell on Feb 14, 2019 11:51:33 AM

bigstock-Photo-Camera-Icon-Isolated-On--275128894Empower yourself with the ability to take your own listing photos! 

A beginner level course which will provide you a camera comparison, the basics of how to make the most of your camera or cell phone, how to group and properly size photos easy upload.

This class is sponsored by PSAR's Tech Committee and instructed by Tony Amat with Nelson Photo! 

 

Please be sure to bring all of your gadgets to include cameras, cell phones, laptops, or any other device you typically use. 

Class Details:

Wednesday, February 27, 2019
PSAR East County Service Center: 1150 Broadway, El Cajon, 92021 
11:30 AM - 1:00 PM

Cost: 
FREE for PSAR and NSDCAR Members, $5.00 for non-members.

                 Tony Amant cropped-new copy    
                                                                     
   Tony Amat with Nelson Photo                                                              

 

 

Topics: Education, Technology

Code of Ethics Training Mandated by NAR - Reminder

Posted by Paige Campbell on Feb 12, 2019 12:09:09 PM

 

CODE OF ETHICS TRAINING

PSAR's mission is to empower our members and we didn't feel that shutting down your business would be very empowering so we have been holding off.  NAR required that PSAR Terminate our Realtor members who did not take Code of Ethics Training on December 31st.  By keeping you active, PSAR is risking our agreement with NAR which puts all our members at risk.

PSAR is now forced to terminate your Realtor services.  You will lose access to Zipforms and all of your Realtor Benefits.  After March 1st, NAR will require all members who are terminated to join as a NEW member and pay the $100 new member fee in addition to still needing to complete the training. 

You are really important to us.  Our mission is to empowering you and shutting down your service is contrary to our mission. 

To avoid termination please do one of the following immediately:
1. Call us to provide proof that you have taken the mandatory COE training.
2. Log on to NAR's website and take the FREE Training  

*
PSAR does not have access to see your NAR login credentials, please use the "Forgot Password" function if you have created an account before or "New User Registration" if you never have created an account with NAR. To obtain your NRDS number for either of these functions please use the "Find your NRDS ID" function here.
 
NAR Member Support, 1-800-874-6500 OR ContactNAR@realtors.org

Code of Ethics Free Online


More on the details and changes to Code of Ethics effective 2018: 

REALTORS® are required to complete ethics training of not less than 2 hours, 30 min. of instructional time within a two-year cycle. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®.

A REALTOR® who has completed the required ethics training within a two-year cycle in one association shall not be required to complete any further ethics training for that same training cycle if the REALTOR® becomes or is a member of another association. In addition, a member may take courses to satisfy this ethics training requirement through any association or outside training facility where the member can provide satisfactory documentation of completion.

IMPORTANT:  Starting in 2017, the NAR ethics requirement becomes biennial, and members will need to obtain ethics training during the reporting periods during which they are not renewing their California real estate licenses.

OPTION 1 (Free): Take the Ethics course online through the National Association of REALTORS here. Login Required.  The helpline number for the site is 800-874-6500.

NOTE: When you have successfully completed the online course, you will receive a confirmation by e-mail from www.realtor.org. Please forward the completion confirmation to PSAR at education@psar.org. Note that completion of this Ethics course will not meet the BRE license renewal requirement.

Consequences for Not Completing the Mandated NAR Code of Ethics Requirement

Failure to meet the requirement is a violation of a membership duty and will result in suspension of membership for the first two months (January and February) of the year following the end of any two (2) year cycle or until the requirement is met, whichever occurs sooner. On March 1 of that year, the membership of a member who is still suspended as of that date will be automatically terminated.

Topics: Education

Become Super You! YPN Lunch & Learn

Posted by Joyce Evans on Feb 11, 2019 1:56:56 PM

man-1082887_1920Become healthy! Become self-confident! Become financially secure! Become happy!

PSAR’s YPN invites you to join them at this special Lunch & Learn and listen to special
guest speakers who will help you learn how to holistically... BECOME SUPER YOU!

Thursday, February 21st, 2019, 11:00 AM - 1:00 PM
American Legion, 8118 University Ave.
La Mesa, CA 91942

   RSVP HERE    - Includes a catered lunch by Stacked.

Guest speakers:
Debbra Sweet, Marketing Guru and Personal Improvement Coach
Abraham Cecena, Personal Finance Specialist
Anna Neimark, Personal Fashion Stylist
Mike Florendo, Health & Happiness Fitness Trainer

Thank you to our annual YPN sponsors:
NF_RealEstateLending_540 (1)-1  The Inspectors Company logo-1  RanchoTed-NEW-1

Topics: Education, YPN, Events