February | Real Estate 1 SANTA CRUZ ASSOCIATION OF …scaor.org/archives/nl-02.05.pdf · on a...

REALESTATE

SANTA CRUZ ASSOCIATION OF REALTORS®

REALESTATE

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Legislative Watch

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CAPITOLA, CAPERMIT NO. 59

REALTOR®

DEPARTMENTSAffiliate News .............................3Affiliate Spotlight.......................3New Members ...........................3Did You Know?Helpful reminders and resources ... 13

On the CalendarSCAOR February events .............. 13

February | Real Estate 1

E-DITIONMore News atWWW.SCAOR.ORGWWW.SCAOR.ORG

SANTA CRUZ ASSOCIATION OF REALTORS®

2525 MAIN STREETSOQUEL, CA 95073

REALTOR®

F E B R U A R Y 2 0 0 5

InsertLEGISLATIVEWATCH

Supra Daily Key Updates to Begin February 7Why Daily Key Updates? The top four

reasons to change from weekly to dailykey updates are to:• Maximize access control and assure

protection of homeowner privacy;• Curtail potential criminal activity;• Take advantage of the Showing

Information feature offered with ourKeyBox system;

• Reinforce the perception of profession-alism in our industry.Our primary concern is security! The

single most damaging threat to the realestate industry is the possibility that thehome-selling public would say no to theuse of a lockbox system. Criminalactivity associated with the unauthorizeduse of lost or stolen keys has escalated

Philip Tedesco, RCE, CAE, ChiefExecutive Officer of the Santa CruzAssociation of REALTORS® (SCAOR),presented a check for $1,000 to theCalifornia Association of REALTORS®

(CAR) Scholarship Fund at the CARwinter business meeting in Monterey onTuesday, January 25, 2005, to initiate aperpetual scholarship in honor ofMargaret “Peggy” Gillett.Born in Minneapolis, Peggy had lived

in Aptos, California, for the past 10years and worked as a real estate brokerfor the past 15, running RealtyExecutives of Santa Cruz County. Shewas SCAOR President in 1999 and 2004and 2002 REALTOR® of the Year.Peggy passed away in November 2004;

Peggy Gillett Memorial Scholarship Initiatedshe was 56 years old. Her contributionto the Santa Cruz Association ofREALTORS® and the local real estatecommunity was f illed with endlessenergy, dedication and commitment. Shewill be greatly missed.To honor Peggy’s memory, please send

contributions to her scholarship fund:CAR Scholarship Foundation, 525 SouthVirgil Avenue, Los Angeles, CA 90020,Attn: Luming Lutero–Acct.

Make sure to note Peggy’s name on yourcheck to ensure that the money will bedeposited into the appropriate account.All donations to the Foundation are tax

deductible. The fundraising goal ofPeggy’s scholarship fund is to collect$10,000 of contributions, which will en-

able the scholarship to become per-petual. For more information on thefund, please contact Mary AntonetteMartinez at (213) 739-8397 [email protected].

nationwide. More than 40 percent ofagents carry their PIN numbers with theirkeys, making every home with a “forsale” sign an easy mark should those keysfall into the wrong hands.We want to keep the lockbox system alive

and well in Santa Cruz. The good news isthat we already have the latest KeyBox andelectronic key technology in place.To take this system to its maximum level,

we are missing only one feature—the abil-ity to deactivate keys every day. At present,many keys lost or stolen in our area couldremain active for up to a week—dilutingcontrol and threatening the integrity of theKeyBox system. To extinguish this threat,we are shortening the update cycle fromone week to one day. Starting February 7,

we will be able to lock out “rogue” keyson a 24-hour basis!Our secondary objective is improving

productivity! One great feature of ournew KeyBox system is the ability toview showing information on the Su-pra web site. No longer do you have todrive to the listing to read the KeyBoxor collect business cards! Currently, theinformation you receive on the web sitewhen another member shows your list-ing may be up to a week old because ofthe weekly update cycle. By switchingto daily, you will have the ability to viewshowing information from the previousday. This will keep you more informed

See Key Updates, Page 6

Supra Daily Key Updates ......1

Peggy Gillett MemorialPerpetual scholarship initiated ....... 1

President’s Message .............3

RE Infolink CitationsPenalties for non-compliance ......... 4

Tax Law ChangesCapital gains and California real estatewithholdings affected ..................... 4

CA Housing Market EclipsesPrevious Performance ......... 5

Tsunami Relief Project ........... 5

SCAOR Blood Drive ................. 6

CA Homes UnaffordableCalifornia homes least affordable innation ........................................... 11

WCR Resource MeetingJeff Culbertson will present “The 5Steps of the Sale” ......................... 13

CAR Centennial ...................... 14

2 February | Real Estate

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AffiliateSpotlight

PresidentDan SedenquistPresident-ElectBobbie Nelson

Secretary/TreasurerSandy Kaplan

DirectorsDebra Frey

Christa JohnsonJanet Romanowski

Dennis StewartLori Strusis

Trevor ThorpeLela Willet

Suzanne YostRE InfoLink Representative

Suzanne Yost 688-7434Chief Executive Officer

Philip B. Tedesco, RCE, CAEMember Services Director

Norma I. MileteMarketing & Communications Manager

Dawn ValentineBookkeeper

Colette AlexanderReceptionist/Administrative

Leslie FlintAdministrative Assistant

Gloria Spitzer

2005 Board of Directors

Sales & Marketing CoordinatorNancy Ellis

Production ManagerDiane Sturgeon

Production/Pre-pressCoastal Homes Magazine

Account ExecutiveBarbara Quinton

ADVERTISING INFORMATIONFor advertising and deadline

information, please call

Barbara Quinton462-5700 ext 23

REALTOR®REAL

ESTATEREALESTATE

S A N TA C R U Z A S S O C I AT I O N O F R E A LT O R S ®

C R E A T I N G B E T T E R R E A L T O R S®

Coastal Homes Staff


REAL ESTATE is the official monthlynewspaper of the Santa Cruz Associationo f REALTORS ® p rov ided a s amember-service to inform, educate andupdate REALTOR® and Aff iliatemembers on local, state and national realestate news and the Association’s cal-endar of events.

SANTA CRUZ ASSOCIATION OFREALTORS®

2525 Main Street, Soquel, California 95073(831) 464-2000 • (831) 464-2881 fax

www.scaor.org

New Members

AffiliateNews

Bailey Properties, Inc.Jessica Miller

Century 21 Showcase REALTORS®Victoria LaFeverKristin Parsons

Champness Appraisal ServiceLynn Tilley

Coldwell Banker Residential BrokerageErika Reid

First Net MortgageKaren Rovai

Help U Sell Scotts ValleyChristi Romansky

MBI Real EstateRick Spears

Main Street REALTORS®

Richard Scott ChalgrenKira Martin

Moebest-Henderson PropertiesMarlene Henderson

Network Alliance Real EstateGreg Hayford

Red Tail RealtyKip Nead

Ross Real EstateRobert Ross

Zip RealtyDan Frazier

Comments about an applicant’s admittanceshould be submitted in writing to the Santa CruzAssn. of REALTORS®, 2525 Main St., Soquel,CA 95073.

President’s MessageListing inventory is very low. Multiple

offers seem to be the norm for homesunder $700,000. Home prices continueto go up, up, up. Median-priced homesare affordable for only a few residentsof our area. They’re closing elementaryschools! The City Council wants to builda Conference Center. Highway 1 won’tbe widened. The sky is falling!!Wisdom and comfort sometimes arrive

from unexpected directions. MaxEhrman wrote the following poem in1927. I’m amazed how appropriate, andcomforting, his advice is today.

Desiderata (Things to be Desired)Go placidly amid the noise and hasteand remember what peace there maybe in silence. As far as possiblewithout surrender, be on good termswith all persons. Speak your truthquietly and clearly and listen toothers, even the dull and ignorant;they too have their story.

Avoid loud and aggressive persons;they are vexatious to the spirit. If youcompare yourself with others youmay become vain or bitter, foralways there will be greater andlesser persons than yourself.

Enjoy your achievements as well asyour plans. Keep interested in yourcareer, however humble; it is a realpossession in the changing fortunesof time.

Exercise caution in your businessaffairs, for the world is full oftrickery. But let this not blind you towhat virtue there is. Many personsstrive for high ideals, andeverywhere life is full of heroism.

Be yourself.

Especially do not feign affection.Neither be cynical about love, for in theface of all aridity and disappointmentit is as perennial as the grass. Takekindly the counsel of the years,gracefully surrendering the things ofyouth. Nurture strength of spirit toshield you in sudden misfortune. Butdo not distress yourself withimaginings. Many fears are born offatigue and loneliness.

Beyond a wholesome discipline, begentle with yourself. You are a child ofthe universe, no less than the trees andthe stars. You have a right to be here.

Sign Services42 College Road

Watsonville, CA 95076Phone: (831) 728-0401

Fax: (831) 761-8409

Sign Services was established in 1988.It is owned by Bob Stokes and CindyDePremio.Bob Stokes has over 24 year’s experience

in the real estate sign industry, and CindyDePremio has over 28 year’s experiencein graphic design—17 years at GoodTimes local newspaper.Our combined knowledge represents a

professional approach to signmanufacturing. In addition to real estatesigns and riders, we do a-frames, banners,magnetics, vehicle and window lettering.Just ask us; we’re happy to help, thanks!

By Scott Pine, Affiliate ChairJanuary is always a busy time as we start

implementing our goals. In order for theAff iliate Committee to fulf ill theobjectives identif ied last year, anexpanded Aff iliate Structure wasadopted. We are now organized aroundfour sub-committees that tie directly tothe SCAOR Strategy Plan. The sub-committees are Affiliate Membership/Recruiting led by Shelly Paine,Education led by Rick Campbell,Liaison/Communications led by LindaAmador, and Events/Programs led byBarbara Dimitruk and Loree Doan.An integral element of our change was

better coordination with other commit-tees. Individual roles are assigned cross-committee participation. The AffiliateChair will attend the SCAOR Boardmeetings, the Vice-Chair will attend theStrategy Planning committee meetings,the Education Sub-Committee Chair willattend the Education committee meet-ings, and Liaison will attend the OfficeLiaison committee meetings. As with allcommittee participation, it will requirethe blessing of the appropriate Chair.This month, I’d like to focus on the role

of Affiliate Education. We have a dualcharter in that we provide educationalcontent to SCAOR members as well asthe general public. Based on a SCAORmember survey, the following topicswere identified: more on-going agenttraining, creation of a new agent support

Dan SedenquistBailey Properties2005 SCAORPresident(831) [email protected]

And whether it is clear to you or not,no doubt the universe is unfoldingas it should.Therefore be at peace with God,whatever you conceive him to be,and whatever your labors andaspirations in the noisy confusion oflife, keep peace with your soul.

With all its sham and drudgery andbroken dreams, it is still a beautifulworld. Be cheerful. Strive to be happy.

See Affiliate News, Page 4


Real Estate ServicesSanta Cruz Termite Control

When you want the very best…

• Inspection Reports e-mailed same day

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Structural Pest Control Board, #OPR 9546 • Mark Gottlieb, Gen. Contractor #458461

Jessica ArentRelocation Broker

[email protected]

With Security and Peace of Mind at the forefront of our thoughts these days, why notcall someone to MOVE you or your client? We service your every relocation need—fromPACKING with kid gloves to MOVING—by calling on only the BEST, INTEGRITY DRIVEN,HONEST moving companies, who have YOUR BEST INTERESTS in mind. We GuaranteeIt! Our crews have been drug tested, have had background checks, and have beenprovided with expert ongoing training. The best part of all—you don’t pay more forPREMIUM SERVICE! Call Us For a Free Estimate.

Arent Relocation 236 Waugh Ave, Santa Cruz, CA 95065

Local | National | International

Important Notificationabout RE Infolink Citations

RE InfoLink is educating subscribersabout two important compliance issuesthat affect the quality of the MLSdatabase—the misuse of the remarksfields and inaccurate information in thesquare footage field. As part of aninitiative to improve MLS data integrity,the InfoLink Board of Directors issupporting the enforcement of citationsfor non-compliance of the MLS rulesregarding these two issues.As a courtesy to subscribers, prior to

writing any citations, RE InfoLink isinforming MLS users of the importanceof these two items and about thepossibility of penalties for failure tocorrectly enter data relating to yourlistings.Please take a few moments to review

the information below so that you arenot caught unaware when citations gointo effect February 1!Misuse of the Remarks Field/s—

Confidential information may beentered only on Line 4 of the remarks.Lines 1–3 are reserved fordescriptions of the property only andmay not include agent contactinformation such as names, phonenumbers, email addresses, web sites,or virtual tour links, which may beentered on Line 4 only. Additionalconfidential information includes, butis not limited to, security codes and/or combinations. For backgroundinformation and FAQs, go towww.reil.com/releaseNote/remarksfaq.pdf.

Inaccurate Information in SquareFootage Field—Listing agents/brokers may not enterthe number “0” in the square footagefield. You have the option of eithermeasuring the property or obtainingthe accurate square footage fromanother source (the seller or countytax records). If the MLS auto-populates a “0” from the county taxrecords, this is not citable. To viewthe square footage policy, go towww.reil.com/releaseNote/SquareFootagePolicy.pdf, or for backgroundand FAQs, see link above.

The complete MLS Rules &Regulations document, a log of recentchanges, and the citation table areavailable for your review atwww.reil.com in the Help Desk area.Changes to and enforcement of the

MLS Rules & Regulations are overseenby a committee of the InfoLink Board ofDirectors (your peers). If you have anyquestions or concerns about MLS rulesor how they affect you, contact theInfoLink Compliance Department at800-546-5657, Option 6, or by email [email protected]. Source: REInfolink, www.reil.com.

Garret’s PaintingGarret’s PaintingContractors License #[email protected]

native of Santa Cruz, Garret has his feet planted firmly into the sand.With children at Pacific Collegiate School and Santa Cruz GardensElementary, he understands the importance of delicately balancing home andbusiness, while actively contributing to the community through school charitywork and the Women’s Council of REALTORS®.

Garret has been an interior/exterior home painter for 18 years and knowswhat quality prep work, color and creativity can do to improve the look of ahome. For all of your painting needs, call someone who cares about QualityCraftsmanship and goes the extra mile to make your home more beautiful!

Women's Council

REALTORSo

®

A

Affiliate News...continued frompage 3group, more Affiliate tie-ins, and legalupdates. Programs directed at the com-munity included community pubic rela-tions about real estate related topics,sponsor community education programs,create and promote a speaker’s panel toappear at civic organization meetings.The essential theme is to make

everyone’s real estate experience moreinformed and therefore smoother. AsAffiliates cover a wide range of servicesand products required for successfultransactions; our challenge is to organize

and disseminate quality information. Ourinitiatives will focus on current areasmost relevant to REALTORS® and thereal estate public.We are presently gathering and synthe-

sizing all the input in order to determinerelative projects, content and timeframes.Send us your ideas!Our success is directly proportional to the

involvement of all our members. Pleasesend your thoughts to me at [email protected]. I will see that they are dis-cussed and directed to the appropriate sub-committee.

Recent changes to real estate tax lawsmay affect the decisions of California’shomebuyers and sellers. The InternalRevenue Service (IRS) has imposed afive-year ownership requirement toqualify for the $250,000 (or $500,000for married couples) exclusion fromcapital gains taxes for propertiesacquired through a 1031 exchange. In aseparate move, California’s FranchiseTax Board has eased its real estatewithholding requirements by no longerrequiring one as long as the seller lastused the property being sold as his orher principal residence.

Tax Law Changes forCapital Gains and California

Real Estate WithholdingsCAR’s Legal Department has recently

updated the legal memoranda titled“Capital Gains on Real Estate Sales” and“California Withholding on the Sales ofReal Property.” In addition, CAR willbe releasing an updated version of thestandard form “Seller’s Affidavit of Non-Foreign Status and/or CaliforniaWithholding Exemption.” Updated legalmemoranda can be viewed at www.car.org/index.php?id=NTgz.Source: CAR Newsline, 1/12/05,

www.car.org.


2004 marked a continuation of the record-breakingperformance of the California housing market that be-gan in the late 1990s, according to the California As-sociation of REALTORS® (CAR) “2004–2005 Stateof the Housing Market” report. Home sales and themedian home price reached record high levels in 2004,while supply conditions and the share of first-timebuyers in the California housing market fell to historiclows. The record-setting performance in 2004 eclipsedthat of the previous year for the third year in a row;with the exception of a slight pause in 2001, the state’shousing market has made significant advances everyyear since 1995.“The market performed in a somewhat paradoxical

manner in 2004,” said CAR President, Jim Hamilton.“Home sales and prices continued to advance despitedeclining affordability and weakness in the labor mar-ket, primarily due to low mortgage interest rates, thewealth effect among repeat homebuyers, increasing useof adjustable-rate loans, and both near-term and long-term supply constraints.”“Across the state, regional housing markets seemed to

be moving in slightly different directions,” he said.

SCAOR Contributesto Tsunami Relief

The Santa Cruz Association of REALTORS®

(SCAOR) recently donated $500 to the REALTOR®

Tsunami Relief Project to support efforts to aid victimsof the December 26 earthquake and tsunami that hasdevastated dozens of countries in Southeast Asia. Themotion was approved at the Association Board ofDirectors meeting in January.The National Association of REALTORS® (NAR)

announced the creation of the REALTOR® TsunamiRelief Project on January 4, kicked off with a $50,000donation. NAR will also absorb all administrative costsrelated to the relief project, so that 100 percent of alldonations made by NAR members will go directly toaiding the victims.All contributions are tax deductible. A new law passed

on December 7 enables all contributions towards tsunamiaid made through January 31 to be deducted as items oneither their 2004 or 2005 tax returns, but not both.As of January 24, more than 3,275 donations had been

received, totaling $443,494, in addition to the initialNAR donation, putting the total donations received inthe first three weeks at nearly half a million dollars.“NAR feels that since our mission is housing, it would

be appropriate to assist tsunami victims by providingthem shelter,” said 2005 NAR President, Al Mansell.NAR is partnering with Habitat for HumanityInternational® to achieve this goal. “We have an ongoing

“Three-Peat” in 2004: CA HousingMarket Eclipses Record-Setting

Performances of Previous Two YearsLow interest rates, demographic trends continue to fuel real estate market, but

proportion of first-time buyers falls to record low“Whereas sales were up moderately in all regions of thestate in 2003, the picture was mixed in 2004, even ashome prices continued to climb at a pace that was double,and in some cases triple, the national rate of increase.”The outlook for 2005 is largely dependent on the tra-

jectory of interest rates, which in turn will dictate theextent to which the wealth-effect driven market condi-tions of the past few years will persist, according to thereport. Mortgage rates will remain low, but are expectedto increase by 50 to 75 basis points as the economy growsin 2005, with the fixed-mortgage interest rate expectedto be just under 7 percent by year’s end.“If job growth, which is expected to accelerate

throughout the year, is seen as a precursor to inflation,mortgage rates may increase more quickly and crossthe 7 percent threshold,” said CAR Vice President andChief Economist Leslie Appleton-Young. “This is thebiggest risk facing the housing market in 2005.”The share of first-time buyers dropped below 30 per-

cent for only the second time in the 24-year history of theCAR survey, reaching a record low of 26 percent in 2004.

See Three-Peat, Page 8 See Tsunami Relief, Page 6


(831) 479-1901 or toll-free at (800) 829-19012815 Chanticleer Avenue, Santa Cruz, CA

or e-mail Frank May, MAI, ASA at [email protected]

MAYASSOCIATESAPPRAISERS

When you really need to know…

We have appraised all types of real estate in the area, from

coastal villas, mountain retreats and farms to hotels, tourist

attractions, and bowling alleys.

You name it, and we’ve probably appraised it!

When you really need to know the true market value of real

property, any type of real property, call us.

SCAOR BloodDrive Feb 16,9 A.M.–2 P.M.

The Santa Cruz Association ofREALTORS® will sponsor a blood drivein conjunction with the American RedCross on Wednesday, February 16, 2005,from 9:00 A.M. to 2:00 P.M. at the Associationoffice, 2525 Main Street, Soquel.Each person who volunteers to donate

blood will be entered in a raffle to winprizes, including a grand prize of a one-year gym membership. Any REALTOR®

who signs up five or more people todonate blood will receive a special thankyou gift from the Association.Advance sign-ups are preferred, but

each donor is appreciated, and walk-inswill not be turned away. To scheduleappointments to give blood at the SantaCruz Association of REALTORS® BloodDrive, call Leslie Flint at (831) 464-2000,email her at [email protected], or visitwww.BeADonor.com (sponsor codeis SCAR). Please be sure to eat withinfour hours prior to donating, and drinkplenty of fluids.

relationship with Habitat, and we areimpressed with how extremely efficientthe organization has been in getting thedonated dollar to the persons in need,”Mansell continued.NAR and Habitat for Humanity® will

help people who lost their homes in thetsunami disaster by building“REALTOR® Villages.” REALTOR®

Villages are designed to get the homelessout of temporary shelters in camps as afirst step toward permanent housing. Thevillages comprise “core houses,” whichare permanent structures that, in somecases, will be built on the foundation ofthe previous homes. Each unit willfeature one room and a porch under aroof, plus sanitary facilities. The homescould be improved and extended later on.To contribute to the REALTOR®

Tsunami Relief Project, go towww.realtor.org, or make your checkpayable to the REALTOR® Tsunami ReliefProject and mail it to the NAR FinanceDivision:

National Association of REALTORS®

REALTOR® Tsunami Relief ProjectAttn: NAR Finance Division430 N. Michigan Ave.Chicago, IL, 60611-4087

Tsunami Relief...continued frompage 5

Key Updates...continued frompage 1

and better able to provide feedback toyour clients. To take advantage of theshowing information, logon to the Su-pra KIM Web at www.supraekey.com.You must first assign your keyboxes onthe web site. Once you have done this,the showing information will be auto-matically updated for you. Refer to yourSupra manual or their web site for moreinstruction.What does the switch to daily mean to

you? You will need to remember to placeyour key on the cradle every night—oryou will find yourself locked out. Yes, itwill be a bit of a headache while firstadjusting to this new habit, but yourefforts will pay off greatly for yourclients—and for the Association andindustry.Here’s a little memory tip that seemed

to help agents in other associations thatupdate daily.

Treat your key as if it were a cordlessphone—use it during the day; put iton its base at night. Your key issmarter than your cordless phone,though. Once you hang up your key,the rest is automatic. Your key wakesitself up while you sleep, calls out toexchange information, gets its ownupdate code, and then hangs itself up.

In the morning, you just grab and go!Agents nationwide say that at first, it is

difficult to remember to hang-up theirkey, but after a couple of weeks, itbecomes habit—and well worth it forclients’ peace of mind. Many nowproudly highlight the increased controland security in their presentations topotential sellers!What if you forget to hang up your key?

There are three other ways to get an update.1. Do an immediate manual update by

hanging it up at any time. Just put it inthe base, punch the buttons, and followthe instructions. In a few minutes, youare all set!

2. Get a temporary update by callingKIM, toll-free, 24 hours a day, sevendays a week. The number is on theback of your key.

3. Get a temporary update by logging onto KIM Web at www.supraekey.com.

Don’t show many homes? Just leave itin the base until you are ready to use it.You cannot overcharge it—and it will beready for you when you need it.Thanks for doing your part in providing

the best possible lockbox system for ourclients!


Reputation.“Before David Lyng Real Estate, our 2004 sales placed us in the top 1 1⁄2% of allthe Realtors in the County. We can only imagine the possibilities now that wehave joined the David Lyng Team. The reputation of this company made ourdecision an easy one. They offer an unrivaled marketing package and youwon’t find a more successful group of realtors under one roof.”

—Michael and Aaron Whiting

Enthusiasm.“When I think about David Lyng Real Estate, I am most impressed with thepositive energy that exudes from everyone in the company, the agents, thegreat support staff and the owners. David and Sally have created a greatworkplace and I am extremely happy to be a part of this company.”

—Lynne Bucher

Support.“I have been in real estate for 17 years and joined David Lyng 11 years agobecause of its support staff and the knowledge of its Management Team. Theyoffer a wide array of services from administration and advertising to financialservices and networking with professional agents. Because of this support, I amable to offer full service to my clients and be involved in our community. Hats offto David and Sally for creating and expanding a great company.”

—Audrey Tennant

Reputation. Enthusiasm. Support.

Where new and experienced agents thrive in an atmosphere of camaraderie andenthusiasm.

Where highly trained staff provides tremendous support so each agent can reach theirhighest potential.

Where the opportunities are unlimited!

Aptos Village8050 Soquel Ave.Aptos, CA 95003831.662.0800

Capitola Village301 Capitola Ave.Capitola, CA 95010831.475.8111

Santa Cruz2170 41st AvenueCapitola, CA 95010831.476.0100

Scotts Valley101 Mt. Hermon Rd.Scotts Valley, CA 95066831.461.1200

Watsonville55 Penny Ln., Ste. 102Watsonville, CA 95076831.763.6700

www.davidlyng.com

Santa Cruz County’s Premier Real Estate Company

[email protected]

It’s the people who make a good company great!

Why did you choose David Lyng Real Estate?

DAVID LYNG REAL ESTATE


MAYASSOCIATESAPPRAISERS

CurrentInventory New Sold Average Median

Single Family Residences

Santa Cruz CountyStatistics

Condos/Townhouses

Please visit http://www.scaor.org/html/stats.htm for more Santa CruzCounty statistical information.

2004

New Sold Average MedianCurrent

Inventory2004

Repeat homebuyers will again have theability to outbid first-timers on homes,which will likely lead to an even lowershare of first-time homebuyers in 2005.First-timers are locked out of

homeownership for two reasons,”Appleton-Young said. “First, with rap-idly rising home prices, it has becomeincreasingly difficult to come up with adown payment of any size if one relieson conventional forms of savings. Sec-ond, higher prices also translate intohigher monthly payments, which putsadditional stress on household budgets.”With price appreciation expected to be

strong again in 2005, the trend of buy-ing for investment and tax considerationswill grow. The share of all buyers whoindicated that they bought primarily forinvestment and tax considerations in-creased to a historic high of 16.2 per-cent in 2004, surpassing the previousrecord of 15.3 percent set in 1991. Thistrend will be driven largely by olderBoomer generation repeat buyers whoare diversifying their portfolios, acquir-ing vacation homes, and planning forretirement.Housing affordability is a growing con-

cern that could negatively impact thelong-term health of the housing marketand the California economy. At 20 per-

cent in 2004, affordability in Californiawas less than half that of the nation. Withprices and mortgage rates on the rise,affordability will likely plunge to recordlow levels in 2005, with several coastalregions in the state dipping into single-digit territory for the first time.“The fate of the housing market will

be tied mainly to the direction of theeconomy,” Appleton-Young said. “Thegreatest concern surrounds the currentincrease in the use of low down paymentand interest-only ARMs. If the economyshould weaken and trigger job losses,there is potential for today’s marginallyqualified homebuyers to be tomorrow’sforeclosure.”To read other highlights of the report,

go to www.car.org/index.php?id=MzQ2NTI=.Source: CAR, www.car.org.

Three-Peat...continued frompage 5

657 248 251 $706,196 $660,000Oct.

540 205 229 $700,341 $630,000Nov.

382 129 214 $712,364 $650,000Dec.

96 54 48 $459,692 $455,000Oct.

83 65 49 $446,488 $449,000Nov.

66 34 52 $490,402 $420,560Dec.


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Capitola, CA 95010

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• We have a 100% close ratio on our

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approval from us, you know it’s a

closed deal!

1200 41st Ave., Suite F Capitola CA 95010

Real Estate Broker, CA Dept. of Real Estate - Lic#01340633

Cathy Freyberg

Mortgage Specialist

Janet Dunbar

Mortgage Assistant

Carly See

Mortgage Assistant

New Flooring & Window TreatmentsNow is the time to call for your free in-home consultation with one of our professionals.

Visit Our Full-ServiceShowroom

Let us assist you fromconcept to completion.

Bill to EscrowFinancing Available

Hardwood • Bamboo • PergoCarpet • Wool • Sisal

Custom Area Rugs • PorcelainTile • Window Shades

Shutters • Linoleum

2800 Daubenbiss Ave, Soquel • 476-8780 www.IVFlooringandDesign.com

Deborah Cypert, Owner


Coast Lending Group, Inc.Let our experience and professionalism

“Open Doors For You”

Purchase/Refinance • Residential/Commercial •100% Financing

Construction • Land • Credit Challenged Borrowers

Home Equity Lines of Credit

Coast Lending Group, Inc. is an Employee Owned corporation

looking to offer ownership to seasoned loan experts.

Packages include performance bonuses, profit sharing,

401(K), stock, private office.

Corrie SlyderMortgage Consultant

Mary Jane DowMortgage Consultant

Maralise HowzeMortgage Consultant

Paul VannerusMortgage Consultant

Richard SchafferMortgage Consultant

Jacob GamechoMortgage Consultant

Hal DentonVice President, Sales

2425 Porter Street, Ste. 18Soquel, CA 95073831.465.0737 f: 831.465.0738coastlendinggroup.com

California DRE #01115711

Linda CooperMortgage Consultant

California’s HousingAffordability Index DownSix Points from Year Ago

The percentage of households inCalifornia able to afford a median-pricedhome stood at 19 percent in November,a 6 percentage-point decrease comparedwith the same period a year ago whenthe index was at 25 percent, accordingto a report released today by theCalifornia Association of REALTORS®

(CAR). The November Housing

CAR HOUSING AFFORDABILITY INDEX *CAR Region Nov-04 Oct-04 Nov-03Santa Cruz 15 13 19California 19 19 25United States 55 55 57

Median Prices By Region–Current Month vs. Year AgoMonterey Co. $598,000 $578,000 $455,000Santa Cruz Co. $630,000 $660,000 $533,000Santa Clara $649,000 $636,000 $560,000

* percentage of California households that can afford to purchase amedian-priced home

Source: California Association of REALTORS®, www.car.org

Nineteen of the 25 least affordable hous-ing markets in the U.S. are in California,according to the National Association ofHome Buildings/Wells Fargo HousingOpportunity Index (HOI), for the thirdquarter of 2004. Leading the list of leastaffordable communities is Santa Barbara-Santa Maria-Lompoc metropolitan area,where less than 5 percent of the homessold were affordable to families earningthe median household income of $64,700.San Francisco, which had previously heldthe title of least affordable housing mar-ket, moved to 11th on list.

Study Finds CaliforniaHomes Are Nation’s Least

AffordableAffordability Index (HAI) wasunchanged from October, when it alsostood at 19 percent.CAR’s monthly housing affordability

index measures the percentage ofhouseholds that can afford to purchasea median-priced home in California.

Other California cities among the 25least affordable metropolitan areas wereSan Diego (2), Salinas (3), Los Angeles-Long Beach (4), Orange County (5), Yolo(6), San Luis Obispo-Atascadero-PasoRobles (7), Santa Cruz-Watsonville (8),Merced (9), Stockton-Lodi (10), Modesto(14), Santa Rosa (16), Sacramento (17),Oakland (19), Vallejo-Fairfield-Napa(20), Ventura (21), Yuba City (22), andRiverside-San Bernardino (24).Source: CAR Newsline, 1/12/05,

www.car.org.

See Affordability Index, Page 14

The Board of Directors of the SantaCruz Association of REALTORS®

would like to thank Suzanne Yost forserving as liaison to RE Infolink.


Flooring Sales & Carpet Cleaning

6000 Soquel Drive, Aptos

476.4849


Calendar February 2005Sun Mon Tues Wed Thur Fri Sat

1 2 3 4

6 7 8 9 10 11 12

13 14 15 16 17 18 19

20 21 22 23 24 25

GRI8:00 A.M.–5:00 P.M.

BOARD OFDIRECTORS8:30 A.M.

Did YouKnow?

5

26

27 28

PROSTANDARDS8:00 A.M.–5:00 P.M.

LGRCOMMITTEE8:30 A.M.

ASSOCIATION’SORIENTATION—WELCOME8:30 A.M.

BLOOD DRIVE9:00 A.M.–2:00 P.M.

GRIEVANCECOMMITTEE2:30 P.M.

STRATEGICPLANNINGCOMMITTEE8:30 A.M.

INFOLINK9:00 A.M.–12 noon

SCAORHOUSINGFOUNDATION3:00 P.M.

The December 2004 issue ofREALTOR® Magazine lists onlineeducation as one of the top hottest trendsin real estate today.REALTOR® University is the National

Association of REALTOR’S® Internet-based online education system wherereal estate professionals can takecourses online for continuing educationcredit, professional development, anddesignation certification. You can takethe courses offered by REALTOR®

University in your home, your office,or while traveling—24 hours a day,seven days a week—with just acomputer and an Internet connection.There are courses available onREALTOR® University relating to• Accredited Buyer Representative

(ABR) Designation• Certified International Property

Specialist (CIPS) Designation• Transnational Referral Certification• New Real Estate Professionals• Red Hot Rookie• The 3 Ps of Negotiating• Continuing EducationNAR is in the process of getting RE-

ALTOR® University courses approvedin various states for continuing educa-tion credit. To find out if a course is ap-proved in your state, e-mail AudreySmilgys at [email protected], orcall 800/874-6500 ext. 3298.If you find that you enjoy the flexibility,

convenience, and information onlineeducation offers, explore REALTOR®

University—NAR’s online educationportal available at www.learninglibrary.com/realtoruniversity.If you are not sure if online education

is for you, take an Online EducationSelf-Assessment quiz to f ind out:www.realtor.org/ruquiz.nsf/quiz?openform.

Still not sure if online education isfor you? REALTOR® University has a“try before you buy” policy—you canparticipate in the first module of anycourse for free.

ASSOCIATION’SORIENTATION—WELCOME8:00 A.M.

EDUCATION9:00 A.M.

OFFICELIASONSCOMMITTEE2:00 P.M.

AFFILIATECOMMITTEE8:30 A.M.

MARKETING &PR2:00 P.M.

OFFICE CLOSEDPRESIDENTS’ DAY

Women’s Council of REALTORS®

(WCR) Santa Cruz Chapter FebruaryBusiness Resource Meeting will featureJeff Culbertson, COO, Western RegionColdwell Banker Residential Brokerage.Jeff will be speaking on “The 5 Steps of

the Sale: The ability to properly sell thebenefit of your services and the fee youcharge is more important than ever. Leavethis meeting feeling positive aboutovercoming objections and selling YOU.”The meeting is Wednesday, February 16,

from 11:30 A.M. to 1:30 P.M. at the CoastSanta Cruz Hotel and is sponsored by

WCR Santa Cruz Business Resource MeetingGarret’s Painting and Santa CruzMortgage.For more information, contact Jeanne

Mulhern at (831) 477-2815. WCR is acommunity of real estate professionalscreating business opportunities,developing skills for the future, andachieving our individual potential forsuccess.

Save the date and register now for SRES(Seniors Real Estate Specialist) Trainingon Thursday and Friday, March 17 and18, from 8:30 A.M. to 3 P.M. The trainingcosts $399 and will be held at the SantaCruz Association of REALTORS® office,2525 Main Street, Soquel.For more information or to

register, please call Real Estate PowerTraining at (831) 462-1341 locally or(800) 918-9637 toll-free, [email protected] or visitwww.realestatepowertraining.com.

Save the Date: SRES Training

PROSTANDARDS8:00 A.M.–5:00 P.M.

Annual Calendar of EventsFebruary 20052/2 Orientation—Day 12/4 Orientation—Day 22/11 GRI 102–104/Trust Fund

Management/Fair Housing2/16 Blood Drive2/21 Office Closed—Presidents’ Day


When nearly 100 men gathered at theLankershim Hotel in Los Angeles onMay 27, 1905, they envisioned anorganization that would create a bondof trust and respect betweenREALTORS® and homebuyers andsellers throughout California. Onehundred years later, that vision is areality: More than 160,000 members ofthe California Association ofREALTORS® are working diligently to

Leading the Way...™ for 100 Years: CARKicks Off Centennial Celebration CAR also reports housing affordability

indexes for regions and select countieswithin the state. The index is the mostfundamental measure of housing well-being in the state.The minimum household income

needed to purchase a median-pricedhome at $473,260 in California inNovember was $109,670, based on anaverage effective mortgage interest rateof 5.70 percent and assuming a 20 percentdownpayment. The minimum householdincome needed to purchase a median-priced home was up from $90,270 inNovember 2003, when the median priceof a home was $384,470, and theprevailing interest rate was 5.85 percent.

Affordability Index...continuedfrom page 11

preserve and promote a commitment toexcellence, professionalism, andintegrity within the real estate industry.“2005 marks the hundredth year that

CAR and its members will work togetherto bring the dream of homeownership toCalifornians,” said CAR President, JimHamilton. “CAR’s leadership, ourREALTOR® members, and localREALTOR® associations throughout thestate are proud to commemorate a centuryof accomplishments rooted in the desireto continuously improve California’s realestate industry.”A web site dedicated to CAR’s Cen-

tennial Celebration, at www.centennial.car.org, chronicles the heritage, history,and good works that REALTORS® havecontributed to California.“Since 1905, CAR has been driven by

a compassion for homebuyers, sellers,REALTORS®, and other members of thereal estate community,” Hamilton said.“From our modest beginnings 100 yearsago to the innovative organization we aretoday, CAR has engaged in myriadactivities to enrich California’s

communities and the lives of itsresidents.”Later this year, REALTORS® from

across the state will help commemorateCAR’s legacy of leadership at CaliforniaREALTOR® EXPO 2005, taking placeSeptember 20–22 at the San DiegoConvention Center. Each year thousandsof industry leaders and top producers aredrawn to the EXPO’s networking,educational, and professionaldevelopment opportunities. With CAR’sCentennial Celebration front and center,this year’s EXPO also will feature specialfestivities highlighting people, events,and achievements from CAR’s 100-yearhistory.The California Association of

REALTORS® (www.car.org) is one ofthe largest state trade organizations inthe United States, with more than160,000 members.Source: California Association of

REALTORS®, www.car.org.


Building on Our Commitment to Team Bailey

We Are Pleased to Introducethe three most recent graduates from our All Star

Training Program. Each has completed classes and

gained proficiency in contracts, negotiating, mar-

keting, and career development. In addition, our

graduates have gained the knowledge and real life

experience to continue their successful careers.

Congratulations to all three!

Property Management& Vacation Rentals

831.688.7009

Bailey Mortgage, L.P. A Chase Manhattan Affiliate

831.689.8500CHASE

APTOS SALES

831.688.7434SANTA CRUZ SALES

831.426.4100

Relocation Services3040 Valencia Ave. Suite 2, Aptos, CA 95003

831.685.6494

baileyproperties.com

Coming Soon:4788 Scotts Valley Drive

Jorge Alvarez

~ A Licensed Realtor

Since July 12, 2004

~ 1 Listing Taken

~ 3 Escrows Closed

Oscar Gutierrez


Since September 3, 2004

~ 1 Listing Taken

~ 4 Escrows Closed

Karla Hawkinson


Since August 17, 2004

~ 1 Listing Taken

~ 2 Escrows Closed

Paul & Robert Bailey

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