REALTOR REAL ESTATE CIRCLE OF EXCELLENCE THIS IS YOUR TIME TO SHINE THE SAN DIEGO FOR MORE INFORMATION GO TO PAGE 6

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1 WHAT S HAPPENING AT SDAR AUGUST 2017 THE SAN DIEGO REALTOR THE TRUSTED VOICE OF SAN DIEGO REAL ESTATE REAL ESTATE CIRCLE OF EXCELLENCE THIS IS YOUR TIME TO SHINE FOR MORE INFORMATION GO TO PAGE 6

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3 AUGUST 2017 Table of Contents KEARNY MESA 4845 Ronson Court San Diego, CA P: (858) F: (858) CORONADO 120 C Avenue, Suite 140 Coronado, CA P: (858) F: (619) CARLSBAD 1850 Marron Road, Suite 104 Carlsbad, CA P: (858) F: (760) EAST COUNTY 220 West Main Street El Cajon, CA P: (858) F: (619) RANCHO BERNARDO Bernardo Center Dr. San Diego, CA P: (858) F: (858) SOLANA BEACH 981 Lomas Santa Fe, Ste. E Solana Beach, CA P: (858) F: (858) SOUTH COUNTY 300 East H Street, Suite 1001, Chula Vista, CA P: (858) F: (619) San Diego REALTOR (ISSN ; USPS ) is the official publication of the Greater San Diego Association of REALTORS, which is affiliated with the National Association of REALTORS and the California Association of REALTORS. All copy for publication should be mailed to the Editor, San Diego REALTOR, 4845 Ronson Court, San Diego, CA 92111, by the 20th of the month preceding the month of publication. All copy is subject to editorial approval. San Diego REALTOR and its publisher, the Greater San Diego Association of REALTORS, in accepting advertisement in this publication, make no independent investigation concerning the services or products advertised, and they neither endorse nor recommend the same nor do they assume any liability thereof. The opinions expressed in the articles are not necessarily the opinions of the Greater San Diego Association of REALTORS, NAR or C.A.R., and therefore they make no warranties and assume no responsibility for accuracy or completeness of the information herein. Information should not be relied upon without the consultation of your accountant or attorney, with whom you may wish to discuss the applications of the opinions to facts in individual situations. This is a copyrighted issue. Permission to reprint or quote any material from the issue may be granted upon written inquiry and provided the San Diego REALTOR is given proper credit in all reprinted articles or commentaries. The term REALTOR is a national registered trademark for members of the National Association of REALTORS. The term denotes both business competence and a pledge to observe and abide by a strict code of ethics. *Advertisements that contain offers or solicitation of agents for recruitment purposes are prohibited. COLUMNS 4 President s Perspective - Statistics 5 Realtor.com Results Summit 6 Circle of Excellence - Your Time to Shine 8-9 SDAR Election Candidate Guide 10 Commentary on Affordable Housing 11 Property Rights and Patent Trolls SDAR & SD Chamber Housing Scorecard July Statistics - Detached Homes July Statistics - Attached Homes 18 July 2017 Statistics & Graphs 20 July New Member Applicants 21 SDAR Education Classes in Focus Open Houses: Still Alive and Growing 24 September Calendar of Events 26 SDAR Education Schedule ADVERTISERS Mike Russ Financial Training Centers, Inc...2 Landy Insurance in 1 Refinishing...7 R-Solutions...7 Sierra Pacific...19 ADVERTISING Call Toll-free: (800) for advertising rates and reservations. Foley Publication, Inc South Bellaire Street, Suite 601 Denver, Colorado THE SAN DIEGO REALTOR AUGUST

4 PRESIDENT S PERSPECTIVE Homes Sales Cooled off in July BOB KEVANE 2017 PRESIDENT Resale single-family home purchases were down 20 percent in July compared to June, and condominiums and townhomes (attached properties) were down 14 percent from the prior month. Compared to the same month last year, single-family home sales were down 10 percent and condos/townhomes were down 7 percent. Prices continue to be the bright spot, at least for sellers. The median price of singlefamily homes reached $620,000 in July, up slightly from June, and 11 percent higher than a year ago. The price of attached properties ($405,000) dipped 1 percent from June, but that s an increase of 7 percent from a year ago. Prices of all resale properties are up more than 8 percent this year. In July, single-family homes were selling in an average of only 27 days, while attached properties closed an average of 22 days from the point that they went on the market. We are predominantly in a seller s market. Savvy buyers, and particularly first-time buyers, will need to scramble and be purchase-ready, as they are faced with competing offers, sometimes over the asking price. In July, the zip codes in San Diego County with the most single-family home sales were: (Fallbrook) with (Rancho Bernardo West) with (Oceanside North) with (Poway) with (Rancho Bernardo East) with 50 The most expensive residential property sold in San Diego County last month was an oceanfront home in Encinitas 3,500-square-feet, 4 bedrooms, 5 baths completely redesigned in 2015, with a sale price of nearly $8 million. Here is a summary of the June housing statistics: MEDIAN PRICE (Month over Month Comparison) Single-Family: 1% INCREASE July 2017 = $620,000 June 2017 = $615,000 Condos/Townhomes: 1% DECREASE July 2017 = $405,000 June 2017 = $410,500 (Year over Year Comparison) Single-Family: 11% INCREASE July 2017 = $620,000 July 2016 = $560,000 Condos/Townhomes: 7% INCREASE July 2017 = $405,000 July 2016 = $379,500 SOLD LISTINGS (Month over Month Comparison) Single-Family: 20% DECREASE July 2017 = 2,011 June 2017 = 2,523 Condos/Townhomes: 14% DECREASE July 2017 = 1,075 June 2017 = 1,247 (Year over Year Comparison) Single-Family: 10% DECREASE July 2017 = 2,011 July 2016 = 2,227 Condos/Townhomes: 7% DECREASE July 2017 = 1,075 July 2016 = 1,158 Learn more about San Diego County housing statistics each month when you visit Bob Kevane 4 THE SAN DIEGO REALTOR AUGUST 2017

5 2017 Officers Robert Kevane - President Steve Fraioli - President-Elect Zach Todaro - Vice President Angela Ordway - Treasurer Cory Shepard - Immediate Past President Chris Anderson - Immediate Past President 2017 Directors Megan Beauvais Glenn Bennett Kevin Burke Barbara DuDeck Vickie Fageol Carla Farley Ginni Field Gerri-Lynn Fives Pat Garner Michelle Hellerud Steven E. Kilgore Mark Marquez Denise Matthis Mary Mitchell Brian Nelson Frank Powell Mark Powell Rocky Rockhill Donna Sanfilippo Dottie Surdi Robert Weichelt Production Staff David Pedersen - Communications Coordinator Foley Publications - Design & Art Direction Kristie Pirkey - Managing Editor SDAR Staff EXECUTIVE Michael T. Mercurio - Chief Executive Officer Catherine Smiley Jones - Chief Operations Officer ACCOUNTING David Kvendru Chief Financial Officer INTERNATIONAL/COMMERCIAL RELATIONS Theresa Andrews - Director GOVERNMENT AFFAIRS Ryan Maxson Director MARKETING, COMMUNICATIONS & EVENTS Kristie Pirkey - Vice President MEMBERSHIP & CUSTOMER SERVICE Brandon Robbins - Vice President PROFESSIONAL DEVELOPMENT Jayne Fabulic Vice President RISK MANAGEMENT Kyle Pietrzak, Esq. - Vice President SALES Facio Palomino - Director Break Through at the Realtor.com Results Summit Next Month Join your colleagues for two days of hands-on learning, exclusive insights, and celebration. They ll all be in Las Vegas on September for the Realtor.com Results Summit Break/Through. A star-studded cast of keynote speakers and breakout sessions that will spotlight today s real game-changing innovations. Discover the technologies and strategies that will enable you to do what you love, more effectively. Get ready to break through barriers, learn the secrets of increasing productivity, and form powerful and enduring connections that will uplift your business. What does a Pulitzer-Prize winning reporter have in common with the CMO of the Golden State Warriors? Or a former White House Director of Events? Whether you re a dynamic solo agent, a motivated team leader or broker or in charge of lead solutions for a growing brokerage, you ll get expert, actionable advice from industry leaders. Topics Include Building Your Pipeline Your Digital Footprint Maximizing Your Book of Business Convert Like a Champion What Consumers Really Want Content is King Dynamic Listing Presentations Stand-Out Online Make Your Profile Shine Fueling Your Growth Differentiate Yourself with 3D Using Social Media At the end of the two-day conference, enjoy an Appreciation Party at The Cosmopolitan s Marquee Nightclub. Learn more about the sessions, speakers, accommodations and pricing when you visit THE SAN DIEGO REALTOR AUGUST

6 CIRCLE OF EXCELLENCE Circle of Excellence Returns This is Your Time to Shine Be recognized among your peers at San Diego real estate s most prestigious event of the year. Nominations are now open, and applications are being taken for the Circle of Excellence, in partnership with the San Diego Union-Tribune. RECOGNITION OF EXCELLENCE Top-producing teams and individual REALTORS who exemplify excellence in the San Diego County real estate industry will be highlighted in the Recognition of Excellence. Teams and individuals will be recognized at the Platinum, Gold, and Silver levels of achievement based on numbers of units and/or sale prices. The sales production levels are specified on the website If a team or individual qualifies for one of the levels, they may fill out an application and attach a copy of their sales production report. The production dates for qualification are November 1, 2016, through October 31 of this year. Applications for the Recognition of Excellence will be accepted only through December 22, AWARDS OF EXCELLENCE Each year SDAR acknowledges top real estate professionals who exemplify excellence among their peers. This year, in addition to the categories of Broker, REALTOR, Office Manager, and Affiliate of the Year, SDAR is pleased to announce new awards for Commercial Broker, and Commercial Transaction of the Year. For the Awards of Excellence, any SDAR member in good standing may submit nominations, and self-nominations are accepted. Once nominated, applicants will be prequalified and then fill out a full application. Winners will be selected by their industry colleagues through votes cast before the event. Nominations for the Awards of Excellence must be received by October 31, Submit a nomination at www. sdar.com/awards. THE EVENT - JAN. 13, 2018 All finalists and winners will be honored at the Circle of Excellence on Saturday, January 13, 2018, at the Hilton San Diego Bayfront. All winners will be featured in a Sunday edition of the San Diego Union-Tribune. Now s your time to shine! Apply today for the Circle of Excellence. 6 THE SAN DIEGO REALTOR AUGUST 2017

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8 The Leadership of Your Association - Candidate Guide Cast your vote for 2018 SDAR Board of Directors beginning Monday, August 21, at 8:00 a.m. through Thursday, August 31, at 5:00 p.m. There are 10 open positions for Director. Ten other directors are currently serving their first year of a two-year term. Eligible SDAR REALTOR members will receive an e-ballot with voting instructions from Internet Crusade. Please visit for more information. Note: New members must have attended new member orientation by July 10, 2017, in order to be eligible to vote in this election. You will be able to vote directly from the ballot, or you may vote when you visit the SDAR website or one of our SDAR Service Centers, as long as you have your PIN information sent in the ballot. If you have technical problems casting your vote during the voting period, call (858) , Monday through Friday, 8:00 a.m. to 5:00 p.m. (PDT). Election results will be posted at SDAR s main office and at on September 5. For more information about the election call (858) CANDIDATES FOR 2018 DIRECTORS The following are the candidates for a two-year term on the SDAR Board of Directors beginning in Ten will be elected. (Note: Candidates who have petitioned to be on the ballot may not be appearing in this Candidate Guide due to the deadline established in SDAR's Administrative Election Procedures. Candidate names are listed in order as determined by a drawing conducted by the SDAR Election Chair.) MEGAN BEAUVAIS GRI Ascent Real Estate Residential Real Estate I am passionate about our industry, protecting the interests of our communities, clients and business standards. I will bring a fresh perspective to the Board, always questioning where needed and offering balanced, thoughtful insight to our discussions. I will listen to your needs and requests and represent you, the membership. DENISE MATTHIS Broker, PMN, GREEN, SRES, ABR, SFR, AHWD DEM Financial Services & Real Estate Residential Real Estate Commitment, Professionalism & Integrity: Qualities of a successful REALTOR and Leader. I have a simple work ethic - the client comes first - and carry that work ethic into my industry involvement. My commitment is to aggressively work for the members to maximize their membership through resources, education and training. ROBERT WEICHELT Weichelt Real Estate Services Residential Real Estate Robert is current Board of Director for the Greater San Diego Association of REALTORS, as well as various committee work such as RPAC (Vice Chair), Government Affairs & YPN. Robert and his wife Carla have been married since 1990 and have two children, a daughter Brittney and son Brandon. DONNA SANFILIPPO Broker, GRI, e-pro Coldwell Banker West Residential, REO, Relocation Active REALTOR for 39 years with an understanding of what our members need from the association to enhance their careers. As a past board member, treasurer and president, I have the experience to work with the board to ensure our members receive quality benefits and services. I would appreciate your vote. 8 THE SAN DIEGO REALTOR AUGUST 2017

9 DERRICK LUCKETT NMLS Destiny Six Financial Mortgage and Real Estate Mortgage & Real Estate My name is Derrick Luckett. I currently serve on the Legislative Committee for SDAR for the last 3 years. I am past Local Board President for the National Association of Real Estate Brokers. I am past California State President for the California Association of Real Estate Brokers. I m looking forward to helping! MARK POWELL Broker, SRES Discovery Property Group, Inc. Residential Real Estate Protecting Our Ability to Make a Living as REALTORS and Preserving Personal Property Rights for Our Clients has been my duty as a current board member with the San Diego Association of REALTORS and I would like to continue to do so for the next two year term. DIANNE RATH Broker, ABR, ASP, CIPS, CRS, GRI, PMN, RSPS, SRES, SRS, TRC ERA Eagle Estates Realty Residential, International, Investment My 40 year REALTOR experience is important. Serving as a committee member, chair, officer & director for PREP, SDAR, C.A.R, & NAR enhances that. These all add to my strong desire to help our members advance to be the best they can be. I'm committed to all of you Vote Dianne! ROCKY ROCKHILL CRS Scott & Quinn Real Estate Residential Real Estate As a full-time REALTOR at a small independent brokerage I understand the challenges of operating without a net and the rewards our profession can provide both financial and personal. I believe SDAR should provide the education and technological tools to help us succeed and prosper. Thank you for your support. BRIAN HALL Brian Hall Properties Buyers and Sellers Representing the real estate industry is a privilege and a responsibility. My objective as a board member would be to regulate high industry standards, protect property rights and serve the interests of the members and community. Thank you for the opportunity to serve you on the SDAR Board of Directors. STEVE KILGORE Century 21 Award Residential Real Estate I have served SDAR on different levels and would love to continue to serve in the capacity of a Director to further fight for better services for agents and to raise the standard of excellence in our industry. LINDA DRYLIE Broker, ABR, SRS, SRES Burke Real Estate Consultants, Inc. Residential Sales, Leases I dedicated the past years in educating my fellow REALTORS in being relatively risk-free. I am Vice-Chair of Education, on Risk Management committee, and I ask for your vote to continue my tradition of supporting others. CHRIS ANDERSON CRS, PMN, RMS, GRI Town & Country Real Estate Residential, Land, Commercial Technological changes are forcing real estate agents to work harder than ever before to prove their relevance and worth in a marketing environment that preaches against the value that their specialized knowledge brings to the marketplace. I want to see SDAR help the agent prepare for these challenges. THE SAN DIEGO REALTOR AUGUST

10 COMMENTARY More affordable housing needed for San Diego baby boomers By Mark Powell San Diego lacks enough affordable housing to meet the needs of our growing senior population and local government could do much more to increase the supply. By 2030, there will be approximately 9 million baby boomers between the ages of 66 to 84. Most boomers will be on fixed incomes and will need some form of affordable housing. Some will have the option is to live in a nursing home or an assisted-living facility. The average cost to stay in a semiprivate room in a nursing home in San Diego s is $93,805. The cost to stay in an assisted-living facility is approximately $42,000 a year and most seniors pay for assisted living with private funds. One solution to the senior housing crisis is to ease building restrictions surrounding accessory dwelling units also known as granny flats. Granny flats are smaller, independent units on the same lot as a single-family home. These units can accommodate future growth and could help meet the longterm care needs of baby boomers. Granny flats are particularly appealing to homeowners who anticipate that they may have a future need for senior housing options, because they are generally less expensive to build than a standard single-family home. A recent Point Loma Nazarene University study determined building regulations are a significant factor in San Diego s high housing costs accounting for approximately 45 percent of the total costs, so granny flats make the most sense. Granny flats also allow for flexible living arrangements for families and can provide financial stability to homeowners, especially seniors living on fixed incomes. There are a handful of San Diegans who oppose making it easier to build granny flats, citing reasons such as undue strain on city services and infrastructure like parking, water, sewer and electricity. These opponents believe that the increased density will destroy the character of their neighborhoods, as these units could be turned into short-term vacation rentals. To address some of these concerns, the City Council has recommended a minimum 30-day rental period, that the main house be occupied by the owner and, to the extent legally possible, minimizing front-yard parking. Nevertheless, local regulations and permit fees could still impede the development of these units in San Diego and there is no reason they should, because last year, Gov. Jerry Brown signed SB 1069, intended to reduce regulatory barriers facing homeowners who seek to build granny flats. The bill was introduced to increase the supply of affordable housing in California and the bill mandates local governments to adhere to new regulations regarding granny flats. The law also offers local governments more flexibility to ease restrictions such as parking requirements and lower permit fees that have made it hard to build granny flats. The city has drafted proposed changes to the municipal code and those updates must be made as soon as possible to avoid confusion and construction delays. Once the regulatory changes are made, the city should also do what it can to inform the public about the eased restrictions and help encourage people to build granny flats. There is no arguing that San Diego is in a housing crisis as rent and housing costs continue to increase and San Diego s affordable housing inventory is virtually nonexistent. No single solution will tackle the housing crisis surrounding our aging population and it is apparent that there will need to be a comprehensive approach to increase the number and affordability of homes. Costly long-term care housing will be needed to meet the needs of the growing numbers of elders and this will be a daunting task if changes surrounding most of the fees to build granny flats are not made. San Diego s City Council members have the ability to go above and beyond the eased regulations mandated by the state. They should reduce or waive as many fees as possible, including additional water or sewer fees, if the granny flat is detached from the main house. The City Council appears to be working to put in place the needed changes to streamline the granny flat permitting process, but without removing or reducing most of the permitting fees, the changes may not be enough. Powell is on the board of directors for the Greater San Diego Association of REALTORS and is a board member on the San Diego County Board of Education. 10 THE SAN DIEGO REALTOR AUGUST 2017

11 RISK MANAGEMENT Property Rights and Patent Trolls By Eric R. Ginder, Esq. A picture is worth a thousand words. Trying to describe a property s highlights or the pure physical beauty of our county often pales in comparison to the impact of a single photograph; that s why we use them in our advertising. And, of course, it s never been easier to take a good photograph. Gone are the days of missing the opportunity to get that great shot because you didn t have your camera with you; or taking that great shot and then waiting months to get it developed. Everyone with a smartphone has the ability to instantly take photos and publish them to the world. As great as this technology is, our prolific ability to share everything has lead to a rather casual attitude regarding the ownership rights associated with the photographs we find online. As easy as it is to take and share our own photographs, it s also fairly easy to copy photos we find online and use them for our own purposes. See a great photo online that you think would look wonderful on your website? Right-click it, save it and it s yours right? Not quite. If you didn t take that photo, then it likely belongs to someone else and may be subject to Federal Copyright Act protection. To qualify for protection under the Copyright Act, the work in question must generally meet two basic criteria: First, it must be an original work ; this means that is created independently by its author. Photographs meet this requirement; each photograph is, to some degree, taken subject to the photographer s unique arrangement existing at the time the work is created. Second, the work must be fixed in a tangible medium of expression. Without going into exhaustive detail about what this means, suffice to say that storage of the image on an Internet server qualifies. Ultimately, whether the photo is copyright protected depends upon answers to questions you have no way of obtaining by simply looking at the image online. For example, you need to know when the photo or image was first published, whether existing copyright protection has expired or has been renewed, etc. The only way to really know this information is to track down the photographer and ask, or obtain permission to use the image. But there wasn t a c with a circle around it? Many folks are familiar with the c in a circle ( ) indicating a valid notice of copyright protection. While this symbol is a good indicator that a given photograph or image is copyright protected, it has not been a requirement of copyright protection since What About Fair Use? So, you ve heard that fair use may protect you from copyright infringement claims; not exactly. Fair use generally allows unauthorized reproduction of copyright protected works only for the purpose of parody, criticism or the furthering of academia. Your website probably doesn t qualify. The Website Said the Photos Were Free? If you downloaded a photo or image from website promising free content you are likely using images subject to Creative Commons licensing, which exists to allow the free distribution and use of works that are otherwise copyright protected. Be aware, however, that there are limitations to the use photos and images subject to Creative Commons licensing. Some Creative Commons licensing specifies that the work be used only for non-commercial purposes; this can be a problem if you intend to use the image on your professional website. Most Creative Commons licenses also require that you give credit to the author of work by identifying him/her as the photographer. Failure to abide by the requirements and limitations of a Creative Commons license means that you have infringed on the copyright, even if you downloaded it from a free website. So I Violated the Copyright Who s Going to Know? The simple answer: Everyone. We share online content at a furious pace, and the things we post and share exist in cyberspace virtually forever. Think you re safe because the photographer will likely never be in the market for a house in San Diego and, thus, will never visit your website? A new cottage industry of copyright enforcement is growing quickly. Law firms that are affectionately known as patent trolls are using bots to scrub the web searching for sites copyrighted materials without proper authorization. Ultimately, if you are using a photo on your website that you didn t take, expect to receive either a threatening letter or a lawsuit filed in United States Federal District Court seeking damages for copyright infringement. Many of the damages that flow from copyright infringement are statutory in nature, meaning that the owner of the photo doesn t need to prove any actual dollar damages, and the statutory damages can be significant. In conclusion, be careful when you re using photographs and images on your website and in your advertising. Take the time to research to the ownership and licensing of photos and images that you use and talk to an attorney if you re unsure about licensing. It can save you in the long run. Eric Ginder, Esq., is a member of the SDAR Risk Management Committee. THE SAN DIEGO REALTOR AUGUST

12 HOUSING SCORECARD SDAR & San Diego Chamber Release Housing Scorecard Newly released audit of regional home building shows county only producing half the units needed to meet demand. On July 13, San Diego Mayor Kevin Faulconer, community leaders, and reporters packed into SDAR s Kearny Mesa Headquarters to discuss the findings of the Housing Scorecard, a newly released study on the region s housing crisis by the San Diego Regional Chamber of Commerce and SDAR on San Diego s housing crisis. The study was funded in part through a grant from the National Association of REALTORS with direction provide by the SDAR Government Affairs Department. The Housing Scorecard compares the progress of each of the 18 cities and the County of San Diego in permitting the construction of new homes and provides an accurate depiction of how the housing market is impacting San Diegans. Released prior to the San Diego City Council Housing Action Day, the study is expected to reinforce the call for elected leaders to take action to address the region s housing supply. Time and again we hear from employers who say their employees and potential employees can t find housing they can afford, said Jerry Sanders, Chamber President and CEO. For businesses in San Diego to continue to grow and create jobs we need to make sure our workforce can afford to live here. Key findings include: The San Diego region as a whole is on pace to produce only 50 percent of units needed to accommodate population growth Of the four income categories very low, low, moderate, and above moderate - only the above moderate category is seeing close to adequate production to meet the need The City of San Diego is by far producing the most units, although it is only on pace to produce 51 percent of new units by 2020 Only four of the 18 cities are building enough units to SDAR President Bob Kevane and Government Affairs Committee Chair Carla Farley participated on a panel discussion during the event. 12 THE SAN DIEGO REALTOR AUGUST 2017

13 meet the need: Coronado, Lemon Grove, San Marcos, and Vista Many cities have not built any units in the very low, low, or moderate income categories What s important to note regarding construction across the four income categories is that while we have growing demand for housing at all income levels, the number of permits being issued for each land use authority are far from equally distributed across income categories, as reported in the scorecard. For example, Coronado is on track to issue 874 percent of the permits allocated to the city by 2020; however, all of that development is in the very low and above moderate income categories. Coronado has not produced any units affordable to families earning low or moderate incomes. Additionally, while the total percentage of units permitted is impressive and substantial for Coronado, the 437 units represents only a slight impact on San Diego s regional housing market. To explore the impact of the housing affordability problem, the scorecard also looks at IRS information on migration in and out of San Diego and California. There are two key takeaways: Families and seniors are being pushed out of California California does not have the influx of Millennials that our competitor states do When San Diegans leave town, we lose part of our tax paying population and our community. And when housing is too expensive, businesses and jobs choose to go elsewhere, said Mayor Faulconer. San Diegans literally can't afford to wait for their elected leaders to act. That's why we're putting forward policies for more middle-class housing and smart urban planning. For the future of our economy and our next generation, now is the time for action." While existing environmental regulations and government fees have contributed significantly to the lack of new residential construction, these are not the only factors that have virtually eliminated available housing throughout California, said Bob Kevane, SDAR Board President. We must be forward thinking in our housing policies and consider proposals such as property tax portability, which would allow homeowners to transfer their property tax basis to a new residence, regardless of their age. This one change alone would result in an overall increase in property tax revenues to local jurisdictions and to the state, while stimulating a move-up housing market and opening several thousand units across California for first-time homebuyers. Millennials represent an important and productive segment of the workforce, valuable to employers and the future of our economy, according to the scorecare. When there isn t enough housing to accommodate demand from this segment they are less likely to stay which creates a strain on employment and our local economy. The Housing You Matters coalition has been looking forward to the release of this report, said Mary Lydon, Project Consultant, Housing You Matters. It is incredibly important to track the progress we re making in an effort to chip away at the lack of housing supply. All cities need to participate in being a part of the housing affordability solution. The information used to compile the report is based on the Regional Housing Needs Assessment and Annual Housing Progress Reports completed by each land use authority. The full Housing Scorecard is available at: org/housing-scorecard. SDAR President Bob Kevane appeared on KUSI to discuss the Housing Scorecard and his Property Tax Portability proposal. San Diego Mayor Kevin Faulconer (right) with Chamber President Jerry Sanders, helped kick off the event and called for City Council to take action on proposals to bring online additional housing opportunities in the region. THE SAN DIEGO REALTOR AUGUST

14 JULY STATISTICS DETACHED HOMES Zip Code Market Area SOLD LISTINGS Current Year Previous Year AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Alpine $678,350 $596, $618,000 $540, Bonita $689,900 $655, $637,900 $627, Boulevard $0 $227, $0 $289, Campo $277,164 $298, $290,000 $252, Chula Vista $545,000 $495, $460,000 $482, Chula Vista $487,450 $465, $445,000 $430, Chula Vista $622,000 $560, $542,500 $530, Chula Vista $727,500 $727, $760,000 $710, Chula Vista $590,000 $578, $565,000 $515, Descanso $385,000 $410, $407,000 $440, Dulzura $0 $ $388,500 $398, Guatay $0 $75, $0 $ Imperial Beach $555,000 $564, $532,000 $462, Jacumba $0 $147, $0 $191, Jamul $619,000 $622, $519,000 $561, La Mesa $630,000 $600, $565,000 $569, La Mesa $552,000 $530, $480,000 $472, Lemon Grove $452,500 $430, $415,000 $402, Mount Laguna $140,000 $122, $115,000 $229, National City $430,000 $405, $390,000 $360, Pine Valley $520,000 $424, $462,500 $370, Potrero $0 $315, $293,000 $293, Spring Valley $440,000 $439, $415,000 $415, Spring Valley $537,500 $519, $555,000 $469, Tecate $360,000 $360, $0 $ Bonsall $859,950 $770, $927,500 $745, Borrego Springs $190,000 $206, $157,500 $199, Cardiff By The Sea $970,250 $1,402, $1,630,000 $1,450, Carlsbad $914,500 $882, $830,000 $862, Carlsbad $935,000 $981, $925,000 $905, Carlsbad $847,500 $820, $734,000 $713, Carlsbad $1,065,000 $1,017, $895,000 $930, Del Mar $1,535,000 $1,775, $1,483,875 $1,735, El Cajon $585,000 $550, $540,000 $510, El Cajon $495,000 $510, $512,000 $490, El Cajon $471,200 $474, $455,000 $441, Encinitas $1,239,000 $1,210, $1,325,000 $1,150, Escondido $557,500 $531, $572,500 $549, Escondido $545,000 $525, $491,500 $480, Escondido $476,000 $468, $440,000 $440, Fallbrook $525,000 $550, $513,000 $506, Escondido $698,450 $715, $760,508 $667, Julian $341,500 $336, $355,000 $300, La Jolla $2,340,000 $2,100, $2,124,750 $1,968, Lakeside $506,000 $495, $453,000 $454, Oceanside $595,000 $618, $580,000 $575, Oceanside $559,500 $537, $510,000 $494, Oceanside $530,500 $512, $497,500 $481, Oceanside $510,000 $501, $535,000 $470, Pala $0 $725, $725,000 $870, Palomar Mountain $0 $125, $230,000 $257, Pauma Valley $725,000 $515, $439,900 $448, THE SAN DIEGO REALTOR AUGUST 2017

15 Copyright 2017 Greater San Diego Association of REALTORS. Data for single-family attached and detached home sales through the Multiple Listing Service of Sandicor, Inc. Neither SDAR nor Sandicor guarantees or is responsible for its accuracy. *The median home price is the price where half of the homes sold for more and half sold for less. It is a more typical price measure than average, which can be skewed high by a relative handful of million-dollar plus transactions. Zip Code Market Area SOLD LISTINGS Current Year Previous Year AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Poway $865,000 $730, $695,000 $690, Ramona $545,000 $520, $475,000 $475, Ranchita $0 $396, $225,000 $400, Rancho Santa Fe $2,574,500 $2,144, $2,425,000 $2,272, San Luis Rey $0 $ $0 $ San Marcos $595,000 $569, $479,500 $522, Santa Ysabel $539,000 $757, $0 $479, Santee $517,500 $495, $480,000 $465, Solana Beach $1,525,000 $1,500, $1,500,000 $1,310, San Marcos $711,000 $732, $700,000 $690, Vista $545,000 $540, $497,500 $513, Valley Center $663,500 $600, $503,500 $540, Vista $509,500 $458, $410,000 $428, Vista $515,000 $538, $485,000 $499, Warner Springs $0 $304, $275,000 $320, Rancho Santa Fe $2,410,000 $2,286, $1,392,500 $1,625, San Marcos $0 $ $0 $ San Diego Downtown $0 $671, $0 $1,055, San Diego $580,000 $450, $475,000 $432, Mission Hills $963,500 $940, $788,200 $915, North Park $742,500 $700, $638,000 $655, East San Diego $433,000 $410, $370,000 $375, Point Loma $1,268,000 $1,150, $931,250 $970, Ocean Beach $929,000 $1,045, $1,040,250 $928, Mission Valley $0 $680, $758,900 $708, Pacific Beach $1,100,000 $1,145, $1,150,000 $1,045, Old Town SD $789,000 $796, $757,000 $694, Linda Vista $650,000 $580, $543,000 $535, Logan Heights $370,000 $369, $366,500 $325, Encanto $433,000 $415, $420,000 $385, College Grove $517,500 $525, $505,000 $483, Normal Heights $755,000 $699, $773,750 $655, Clairemont Mesa $644,000 $640, $591,150 $580, Coronado $1,850,000 $1,750, $1,835,000 $1,720, San Carlos $620,000 $588, $560,000 $555, Del Cerro $626,000 $639, $602,000 $606, Sorrento $0 $882, $783,000 $805, University City $837,500 $841, $791,946 $785, Serra Mesa $610,250 $578, $520,000 $530, Tierrasanta $739,000 $705, $626,000 $627, Mira Mesa $599,000 $578, $562,500 $546, Rancho Bernardo $1,099,000 $1,040, $876,250 $896, Rancho Bernardo $735,000 $713, $690,000 $659, Rancho Penasquitos $755,500 $755, $739,500 $720, Carmel Valley $1,301,500 $1,247, $1,099,000 $1,120, Scripps Miramar $917,000 $899, $830,000 $840, San Diego Downtown $0 $ $0 $ Paradise Hills $462,500 $437, $396,250 $405, Miramar $0 $ $0 $ Otay Mesa $492,500 $467, $433,000 $430, San Ysidro $443,000 $437, $449,000 $415,000 GROUP TOTAL COUNTS: THE SAN DIEGO REALTOR AUGUST

16 JULY STATISTICS ATTACHED HOMES Zip Code Market Area SOLD LISTINGS Current Year Previous Year AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Alpine $287,500 $250, $243,500 $242, Bonita $360,000 $265, $180,000 $238, Boulevard $0 $ $0 $ Campo $0 $ $0 $ Chula Vista $377,500 $337, $284,500 $315, Chula Vista $340,000 $297, $295,000 $283, Chula Vista $385,000 $350, $320,000 $330, Chula Vista $400,000 $383, $360,000 $360, Chula Vista $395,000 $403, $375,000 $375, Descanso $0 $ $0 $ Dulzura $0 $ $0 $ Guatay $0 $ $0 $ Imperial Beach $734,950 $463, $659,000 $445, Jacumba $0 $ $0 $ Jamul $0 $ $0 $ La Mesa $282,000 $295, $242,000 $248, La Mesa $338,500 $332, $315,000 $294, Lemon Grove $228,000 $249, $240,000 $231, Mount Laguna $0 $ $0 $ National City $212,750 $247, $235,000 $255, Pine Valley $0 $ $0 $62, Potrero $0 $ $0 $ Spring Valley $316,000 $277, $275,000 $245, Spring Valley $283,500 $280, $255,000 $253, Tecate $0 $ $0 $ Bonsall $325,000 $306, $0 $267, Borrego Springs $69,500 $87, $48,500 $66, Cardiff By The Sea $954,500 $710, $565,000 $897, Carlsbad $672,000 $662, $525,000 $581, Carlsbad $446,500 $463, $424,000 $426, Carlsbad $521,898 $502, $401,000 $446, Carlsbad $605,000 $617, $607,500 $550, Del Mar $1,225,000 $1,073, $347,000 $820, El Cajon $315,000 $312, $306,500 $292, El Cajon $235,000 $235, $218,500 $217, El Cajon $239,500 $255, $240,000 $237, Encinitas $519,500 $611, $621,250 $550, Escondido $359,900 $317, $209,000 $252, Escondido $385,000 $329, $321,250 $314, Escondido $225,000 $225, $187,000 $186, Fallbrook $214,500 $273, $332,500 $325, Escondido $0 $375, $426,000 $290, Julian $0 $ $0 $ La Jolla $800,000 $685, $546,500 $607, Lakeside $232,250 $227, $210,000 $206, Oceanside $435,000 $488, $505,000 $489, Oceanside $406,000 $353, $322,500 $325, Oceanside $330,000 $315, $265,000 $261, Oceanside $318,500 $325, $297,500 $283, Pala $0 $ $0 $ Palomar Mountain $0 $ $0 $ Pauma Valley $0 $280, $216,000 $310, THE SAN DIEGO REALTOR AUGUST 2017

17 Copyright 2017 Greater San Diego Association of REALTORS. Data for single-family attached and detached home sales through the Multiple Listing Service of Sandicor, Inc. Neither SDAR nor Sandicor guarantees or is responsible for its accuracy. *The median home price is the price where half of the homes sold for more and half sold for less. It is a more typical price measure than average, which can be skewed high by a relative handful of million-dollar plus transactions. Zip Code Market Area SOLD LISTINGS Current Year Previous Year AVG DAYS ON MARKET MEDIAN PRICE* SOLD LISTINGS AVG DAYS ON MARKET MEDIAN PRICE* Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Mth YTD Poway $442,625 $442, $390,000 $414, Ramona $235,000 $276, $338,151 $274, Ranchita $0 $ $0 $ Rancho Santa Fe $0 $1,025, $0 $1,067, San Luis Rey $0 $ $0 $ San Marcos $337,500 $330, $380,000 $335, Santa Ysabel $0 $ $0 $ Santee $338,000 $340, $330,000 $320, Solana Beach $950,000 $845, $805,000 $737, San Marcos $467,500 $446, $429,000 $415, Vista $375,000 $305, $271,500 $270, Valley Center $0 $623, $0 $ Vista $322,500 $320, $316,500 $291, Vista $335,000 $312, $300,000 $287, Warner Springs $0 $ $0 $ Rancho Santa Fe $690,300 $817, $0 $808, San Marcos $0 $ $0 $ San Diego Downtown $523,500 $525, $532,500 $498, San Diego $365,000 $330, $315,000 $310, Mission Hills $575,450 $503, $481,250 $455, North Park $387,500 $350, $361,000 $335, East San Diego $281,000 $243, $185,500 $215, Point Loma $705,000 $598, $520,000 $620, Ocean Beach $445,500 $424, $405,000 $391, Mission Valley $335,000 $355, $367,500 $323, Pacific Beach $775,000 $625, $551,500 $575, Old Town SD $495,000 $405, $383,750 $345, Linda Vista $416,500 $415, $340,000 $375, Logan Heights $282,500 $263, $300,000 $179, Encanto $0 $355, $230,000 $278, College Grove $267,000 $260, $232,000 $212, Normal Heights $360,000 $355, $322,000 $329, Clairemont Mesa $349,000 $360, $348,500 $315, Coronado $1,997,500 $1,250, $980,000 $1,015, San Carlos $307,500 $290, $255,000 $245, Del Cerro $370,000 $310, $250,000 $276, Sorrento $490,000 $537, $490,000 $474, University City $420,000 $430, $412,888 $407, Serra Mesa $398,750 $416, $430,750 $420, Tierrasanta $428,000 $427, $428,215 $411, Mira Mesa $359,000 $354, $336,000 $312, Rancho Bernardo $467,500 $474, $466,600 $437, Rancho Bernardo $437,500 $410, $414,875 $360, Rancho Penasquitos $384,000 $390, $374,500 $342, Carmel Valley $592,000 $588, $626,800 $550, Scripps Miramar $485,000 $465, $475,000 $437, San Diego Downtown $0 $ $0 $ Paradise Hills $342,500 $330, $257,000 $284, Miramar $0 $ $0 $ Otay Mesa $335,000 $320, $302,000 $295, San Ysidro $238,000 $236, $180,000 $203,500 GROUP TOTAL COUNTS: THE SAN DIEGO REALTOR AUGUST

18 JULY 2017 COUNTYWIDE STATISTICS 50 Average Days on Market 2600 Sold Listings Detached Attached Detached Attached Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Sales Volume Median Sales Price Detached Attached Detached Attached Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Comparative Sales - Existing Homes - July 2017 San Diego County Sales DETACHED % Change from Prior Year % Change from Prior Month Sales ATTACHED % Change from Prior Year 1 Total Sales Volume - July 2017 $1,555,527, % % $537,833, % % 2 Average Sales Price - July 2017 $773, % % $500, % 4.491% 3 Median* Sales Price - July 2017 $620, % 0.813% $405, % % 4 Sold Listings - July , % % 1, % % 5 Average Days on Market - July % % % 6.862% 6 Total Sales Volume - July 2016 $1,527,851,263 $502,905,333 7 Average Sales Price - July 2016 $686,058 $434,288 8 Median* Sales Price - July 2016 $560,000 $379,500 9 Sold Listings - July ,227 1, Average Days on Market - July Total Sales Volume - YTD 2017 $10,588,589, % $3,334,143, % 12 Average Sales Price - YTD 2017 $755, % $464, % 13 Median* Sales Price - YTD 2017 $595, % $393, % 14 Sold Listings - YTD , % 7, % 15 Average Days on Market - YTD % % 16 YTD Total Sales Volume - YTD 2016 $9,967,120,183 $3,204,089, YTD Average Sales Price - YTD 2016 $706,687 $431, YTD Median* Sales Price - YTD 2016 $550,000 $365, YTD Sold Listings - YTD ,106 7, YTD Average Days on Market - YTD % Change from Prior Month Copyright 2017 Greater San Diego Association of Realtors. Data for single-family attached and detached home sales through the Multiple Listing Service of Sandicor, Inc. Neither SDAR nor Sandicor guarantees or is responsible for its accuracy. *The median home price is the price where half of the homes sold for more and half sold for less. It is a more typical price measure than average, which can be skewed high by a relative handful of million-dollar plus transactions. 18 THE SAN DIEGO REALTOR AUGUST 2017

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20 JULY REALTOR APPLICANTS The following people have applied for membership in the Greater San Diego Association of REALTORS. Any objections to their admittance should be addressed in writing to the Greater San Diego Association of REALTORS, P.O. Box 85586, San Diego, CA, DESIGNATED REALTORS Ali Ghaseminejad - Fairview Group Dean Kelly - Dean Kelly, Broker Stephen Koci - SK Investments Daniel Reeves - Daniel Reeves, Broker Placido Soliven - Jeremiah Realty, Inc. Paul Spring - Innovative Financial Resources Kenneth Walker - Millenium Real Estate Group REALTORS Alan Acosta - Keller Williams SD Central Coastal Nathan Abdallah - Keller Williams Realty La Jolla Stephanie Alcala - S&P Commercial Nicholas Azoff - South Coast Commercial, Inc. Holly Baehrens - Yvonne S. Attard, Broker Brian Barkins - Keller Williams Realty La Jolla Richard Barno - Real Realty Group Nathan Batiste - Highgarden R.E. California, Inc. Fabian Bernstein - Keller Williams SD Central Coastal Alyssa Bersig - Canter Brokerage Dave Biltz - Realty World HomeCares Brandy Bishop - Dwell Well Realty Seth Boisvert - Big Block Realty, Inc. Normalynn Bowlin - Coldwell Banker Res. Brokerage Heidi Cabrera - Redfin Corporation Anjanette Calderon - Hogue & Belong Realty David Camp - Keller Williams Realty La Jolla Guillermo Carrillo - Lepe Tendwell Properties Mario Carrillo - Salas Properties Jadi Chavez - R.B. Haley, Inc. Jorge Chavez - Jeremiah Realty, Inc. Kosal Chung - Tidal Realty Ashley Constans - Thomas North, Broker Fernandez Cook - Realty California William Couchman - Keller Williams SD Metro Joseph Cracchiolo - Harcourts Advantage Kimberly Curran - Pemberley Realty, Inc. Jennifer Dean - Pacific Sotheby s Int l Realty Brittanya Dee - RE/MAX United Maura Dekker - Windermere Homes & Estates Nicole Farquar - Keller Williams SD Central Coastal Mustafa Fouad Naji Naji - Keller Williams SD Metro Robert Frederick - Krause & Company Scott Freitag - Keller Williams Realty Guillermo Gama - Community Realty Group Lucely Garma - Highgarden R. E. California, Inc. Katie Germann - Keller Williams SD Central Coastal Jennifer Gillette - E&V Ranch and Coast, Inc. Ryan Gittins - Berkshire Hathaway HomeServices Douglas Gland - Pacific Sotheby s Int l Realty Laura Gonzalez - Berkshire Hathaway HomeServices Ellen Grossi - Keller Williams SD Metro Hayatt Hamidi - Foster Hamilton Real Estate Company John Hammerstrand - HomeSmart Realty West James Hedgecock - Farland Realty Richard Henderson - Pacific Sotheby s Int l Realty Sara Honea - Woods Real Estate Services, Inc. Sean Howarter - Realty Executives All Area Anthony Irving - Realty Experts Ehab Ismail - Keller Williams SD Central Coastal Benjamin Johnson - Berkshire Hathaway HomeServices Jennifer Johnson - Redfin Corporation Jenniffer Johnson - Allison James Estates & Homes Starlynn Johnson - Berkshire Hathaway HomeServices Anthony Jones - Exclusive Relocation Realty Guillermina Kawage Balsa - Salas Properties Sara Kelley - Alta Pacific Realty Kelsey Kertson - Keller Williams Realty Susan Koga-Freiman - American Real Estate Group John Kralik - Vertical Real Estate Services Susan La - Real Estate Opportunities Jorge Leon - Century 21 Award Jeanne Liebel - Coldwell Banker Res. Brokerage Chase Lirley - Steven T. Lirley, Broker Jared Loustalet - Pacific Sotheby s Int l Realty Katherine Lundstedt - Pacific Sotheby s Int l Realty Joscelin Magana - The Sillstrop Group Garrett Martorello - Rising Realty of California Olga Melnikova - Associates Realty Group Silvie Meloan - Keller Williams Realty, La Jolla Shaline Miller - Berkshire Hathaway HomeServices Summer Miller - Berkshire Hathaway HomeServices Ian Mills - Thomas North, Broker Danielle Moniz - Keller Williams Realty Misti Montgomery - Coldwell Banker Res. Brokerage Meseret Muluken - Keller Williams Realty Todd Murphy - Canter Brokerage Michael Murray - Hope Campbell Realty, Inc. Catherine Nelson - Watkins Realty Group Susanne Nielsen - Pacific Sotheby s Int l Realty Christina Nifong - Keller Williams Realty La Jolla Naser Niknam Esfahani - Abacus Properties, Inc. Ricardo Olea - DC Realty Partners Spencer Oliver - Brush R.E. & Financial Services Ricardo Padilla - One West Realty Group Ashish Patel - Realty One Group Celeste Phillips - Phillips Realty and Management, Inc. Royce Pollard - Pacific Sotheby s Int l Realty Dianne Pollock - Hunter & Maddox International, Inc. Matthew Powers - Balboa Real Estate, Inc. Laura Prazak - Premier Realty Associates Carlos Ramos - Military Mutual Jeff Rehnberg - Downtown Condo Guys, Inc. Jamison Ricci - Patrick J. Stark Phyllis Rogers - Premier Realty Associates Hannah Rohrbacher - Lloyd Realty Group Edgar Romero - Exceptional Realty Efrem Rubio - La Jolla Realty Gabriella Samperio - Innovative Financial Resources Brahim Seikaly - Nicole Roman Bernadit Seman - Berkshire Hathaway HomeServices Amy Shackleford - California Listing Services Kathy Shahbaz - Berkshire Hathaway HomeServices Linda Shank - Real Estate ebroker, Inc. Mark Simmons - Berkshire Hathaway HomeServices Tyler Smartt - Whissel Realty Tonya Snyder - Harcourts Point Loma Realty Mariola Stojic - Latitude 32 Realty Paul Talanian - Poway Village Realty Colin Theseira - Keller Williams SD Central Coastal Diem Tran - Keller Williams Carmel Valley Panteli Vourakis - CityScape Real Estate Derek Voss - Coldwell Banker Res. Brokerage Joshua Warschaw - Graff Real Estate Kevin Waters - McT Real Estate Group Leslie Weber - Berkshire Hathaway HomeServices Shana Weisman - Berkshire Hathaway HomeServices Heather Wendlandt - Brian Hall Properties John Wilds - Tranquility Property Management Rosa Williams - Keller Williams Realty Galen Zanetakos - Berkshire Hathaway HomeServices Claudia Zeier - Berkshire Hathaway HomeServices Guangying Zhang - davabacus Properties, Inc. Rong Zhao - Keller Williams Realty Secondary Members DESIGNATED REALTORS Amante Apolinario - A & E Realty, Inc. Janet Farley - Covenant Realty of NC, LLC Bradley Letourneau - Pacific California Properties Chirag Pradhan - Chirag Dipak Pradhan, Broker Polly Watts - Maxim Properties REALTORS Dennis Bishop - Brooke Realty April Macowicz - Big Block Realty, Inc. 20 THE SAN DIEGO REALTOR AUGUST 2017

21 EDUCATION REAL ESTATE INVESTING (SDAR is offering the course, Real Estate Investing: Building Wealth Representing Investors and Becoming One Yourself on August 30. See details below.) This course covers the fundamentals of real estate investment that practitioners need to know to expand their business services. The one-day course looks at how practitioners can adapt core real estate skills and learn new skills to serve clients who want to invest in single family homes, condos, townhomes, and small multifamily properties. By attending this course, you will be able to: Adapt core real estate competencies and use new skills to serve clients who want to invest in single family homes, condos, townhomes, and small multifamily properties Work with investors as they goal set, plan, evaluate, and acquire properties, as well as manage them Walk the talk and learn how to become a real estate investor yourself. COURSE HIGHLIGHTS Why Invest in Real Estate? Working with Investor Clients Making the Purchase Decision Financing Options and Tax Issues Owning the Property The Real Estate Professional as Investor This course qualifies as an elective course for the Accredited Buyer s Representative (ABR ) designation offered by the Real Estate Buyer s Agent Council (REBAC). For information on earning the ABR designation go to CLASS DETAILS Date: Wednesday, August 30 Location: Kearny Mesa Service Center 4845 Ronson Court, San Diego Time: 9:00 a.m. 5:00 p.m. Instructor: Ginni Field Prices: SDAR REALTORS...$63.75 REALTOR Plus Members...$75.00 All Others...$86.25 Register: or call Member Services at (858) ARE WE IN A BUBBLE? (SDAR is hosting a discussion, Are We in a Bubble? August 31. Details below.) Come learn how to dispel rumors and ease concerns for your buyers and sellers using concrete data to justify your opinion. This insightful discussion on the current market will give you the Top 5 reasons San Diego is not in a bubble. Educate your buyers and sellers so they can make an informed decision and not be paralyzed by indecision." DETAILS Date: Thursday, August 31 Location: Kearny Mesa Service Center 4845 Ronson Court, San Diego Time: 9:30 a.m. 11:00 a.m. Instructor: Bill Gaylord Price: All Attendees... $10 Register: or call Member Services at (858) THE SAN DIEGO REALTOR AUGUST

22 OPEN HOUSE Open House: A Tradition Still Alive and Growing By Nadia Evangelou Do you scan the paper to find open houses while you are drinking your Sunday coffee? Despite all the changes technology has made in the housing market, the Sunday open house has undoubtedly been a tradition in real estate industry. In fact, it is a tradition that is still alive and growing, as Google search data shows. Nationwide, public interest in open houses seems to have increased over time. The National Association of REALTORS (NAR) tracked the search activity for open houses from January 2004 through June 2017 using the public Google Trends website. Google Trends is a tool that allows you to see what people are searching and how specific terms have trended over time. Derived from Google s search data, Trends measures the relative volume of searches made on Google. It creates indexes that show trending instead of actual volume of the specific search terms. Our study focuses on the proportion of searches for open houses performed from 2004 through last month. The study begins in 2004, when the housing market was in the bubble period. The data, based on eight different search terms associated with open houses, shows that people are becoming more and more interested in searching for open houses over the time. MAIN FINDINGS Nationwide On Sunday, April 17, 2016, searches in the Real Estate category related to open houses reached their highest level of interest. Based on Google Trends, the interest for open houses was 100 on a scale. 1 This can be a good proxy for public interest in open houses, since it shows when most queries into the search box for open houses occurred in the last 13 years. We calculated the 6-month average for every year and found that Google searches for open houses in 2017 reached the highest mark in 13 years. Data shows that open house searches in 2004 were half as popular as in Also, it is interesting to note that public interest for open houses was relatively inelastic to the recent housing downturn. The 6-month average interest for open houses slightly decreased from 58 in 2009 to 55 in 2010 while it picked up at 61 in We reviewed search activity for each month, and we see that home search activity gets typically busy in March, April, May and August while it reaches its lowest level in December and January every year. This is the same trend that we see in Existing Home Sales activity; sales activity increases in the warm months of the year while it diminishes in the winter as well. Looking at the weekly search activity that occurred throughout each year, we found that in the last 13 years the most popular month of the year, day of the week and time of the day for a search related to open houses were accordingly: State & Metropolitan Google search data provides results for search activities at the state and metropolitan area level. During a specified time frame, we are able to see in which location searches for open CONTINUED ON THE SAN DIEGO REALTOR AUGUST 2017

23 CONTINUED FROM 22 houses were most popular. A result of 100 shows the location with the most popularity as a fraction of total searches in that area. Thus, it is important to bear in mind that a higher value means a higher proportion of all queries and not a higher absolute query count. So, a small state where 80 percent of the queries are for open houses will get twice the score of a big state where only 40 percent of the queries are for open houses. Thus, results favor small area. 2 For the period 2011 until Jun 2017, open house search was most popular in Connecticut (100) followed by North Dakota (88) and Montana (83). This means that these three states had the three highest proportions of queries related to open houses. For North Dakota and Montana, we see that more people are moving to these two areas. While employment increased, North Dakota and Montana experienced influx of migrants who are interested in looking for open houses. At the metropolitan area level, Google Trends provides results for 40 areas. Followed by Hartford & New Haven, CT and Santa Barbara Santa Maria San Luis Obispo, CA, Ft. Myers Naples, FL had the highest traffic for open house search relatively to other searches on Google. From 2011 through last month, home search activity in Ft. Myers Naples was typically busy in the first three months of the year when the weather is warm but not yet too hot while activity diminished in the following months, a contrast with nationwide home search activity which tends to reach its highest value in the warm months and be slower in the first months of the year. This example shows that public interest may trend differently by area throughout the year. 1 Numbers represent search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term. A value of 50 means that the term is half as popular. Likewise a score of 0 means the term was less than 1% as popular as the peak. 2 Also, based on the Law of Large Numbers, proportions tend to get closer to the true percentage as the size of population increases because standard deviation gets smaller. This means that proportions for big states are closer to reality. Nadia Evangelou, Research Economist, writes about housing market trends including the effects of changing demographic and migration patterns. Nadia has an MS in Applied Economics from Johns Hopkins University and also has advanced degrees in International European Economics and Public Administration. Foley Publications, Inc. is proud to partner with the Greater San Diego Association of REALTORS. Together we will provide a professional, interactive monthly e-magazine for the Association s membership. For advertising information, please contact Ned Foley at or visit our website at Years of Real Estate Publishing Excellence! THE SAN DIEGO REALTOR AUGUST

24 SEPTEMBER September 2017 Sunday Monday Tuesday Wednesday Thursday Friday Saturday 1 2 Committee meetings 1 Nominating / Election 9:00 am 10:00 am SDAR Service Centers Closed Labor Day New Member Orientation 8:30 am 3:30 pm (Kearny Mesa) MLS Paragon Training 9:00 am 4:30 pm (Kearny Mesa) MLS Paragon Training 9:00 am 4:30 pm (Kearny Mesa) Digital Ink & zipvault 9:00 am 12:00 pm (Kearny Mesa) Real Estate Negotiation Expert (Day 1) Down Payment Assistance for the Consumer 10:00 am 11:30m (Kearny Mesa) Facebook Secrets for Agents 12:00 pm 1:30 pm (Kearny Mesa) Contract Essentials 8:30 am 5:00 pm (Kearny Mesa) Real Estate Negotiation Expert (Day 2) 9:00 am 5:00 pm (Kearny Mesa) MLS Paragon Tips & Updates 1:30 pm 4:30 pm (South County) Standard Forms Update 9:00 am 12:00 pm (Carlsbad) zipform Plus 1:00 pm 4:00 pm (Carlsbad) MLS Paragon Tips & Updates 9:00 am 12:00 pm (Coronado) YPN Sunset Soiree 5:00 am 8:00 pm (Location TBD) Ethics 9:00 am 1:00 pm (East County) Mortgage 101 for REALTORS 9:30 am 11:00 am (Kearny Mesa) Be Productive, Not Busy 10:00 am 11:00 am (East County) One-Day Prep Course 8:30 am 3:00 pm (Kearny Mesa) 9:00 am 5:00 pm (Kearny Mesa) All classes/events subject to change or cancellation Government Affairs 9:00 am 11:00 am Young Professionals Network 1:00 pm 2:00 pm REALTOR Political Affairs 9:30 am 11:30 am Housing Opportunities 10:00 am 12:00 pm CREA Board of Directors (Coronado Service Center) 1:00 pm 2:00 pm Grievance 9:00 am 11:00 am Risk Management 12:00 pm 2:00 pm Bylaws 2:30 pm 4:0pm Commercial Alliance (CRASD) 9:00 am 10:30 am International 1:00 pm 2:00 pm Executive 8:00 am 9:00 am SDAR Board of Directors 9:00 am 11:30 am Education 11:00 am - 1:00 pm Membership & Business Tech. 1:30 pm - 3:30 pm 24 THE SAN DIEGO REALTOR AUGUST 2017

25 Introducing Your SDAR Edge... Your Gateway to Success The New and Improved REALTOR Dashboard! The new SDAR Edge gives you instant access to all your industry tools in one location, with a single click, and a single sign-on! Gone are the days of multiple usernames and passwords. SDAR Edge streamlines your workflow giving you access to all the tools you need - zipform, Sandicor MLS, Housing Stats & more.

26 SDAR EDUCATION SCHEDULE AUG CLASS TITLE TIME R-Plus SDAR Others Credits PRESENTER LEGEND: KEARNY MESA SOUTH COUNTY EAST COUNTY SOLANA BEACH CORONADO CARLSBAD 22 Fundamentals of Transaction Coordination 9:00 am 2:30 pm $79 $79 $119 NA Wendi Molina 23 Know Your Disclosures 9:00 am 3:00 pm $51 $60 $78 6 CP Joel Carlson 23 Paragon Tips & Tricks 1:30 pm 4:30 pm Free Free Free NA Sandicor Trainer 24 QuickBooks for Property Managers & Landlords 9:00 am 12:00 pm $25.50 $30 $34.50 NA Mike LaNier 30 Real Estate Investing 9:00 am 5:00 pm $63.75 $75 $86.25 NA Ginni Field 31 Are We in a Bubble? 9:30 am 11:00 am $10 $10 $20 NA Bill Gaylord SEP CLASS TITLE TIME R-Plus SDAR Others Credits PRESENTER 5 Paragon MLS: Let's Get Started (Basic) 9:00 am 12:00 pm Free Free Free NA Sandicor Trainer 5 Paragon MLS: Search to Sell (Basic) 1:30 pm 4:30 pm Free Free Free NA Sandicor Trainer 7 Standard Forms Updates 9:00 am 12:00 pm $12.75 $15 $17.25 NA Kevin Burke 7 zipform Plus 1:00 pm 4:00 pm $25.50 $30 $34.50 NA Kevin Burke 8 Be Productive, Not Busy 10:00 am 11:00 am Free Free Free NA Aldana Gentinetta 12 Paragon MLS: Hot Sheets / Searching (Adv) 9:00 am 12:00 pm Free Free Free NA Sandicor Trainer 12 Paragon MLS: Client Connect/Collaboration Ctr (Adv) 1:30 pm 4:30 pm Free Free Free NA Sandicor Trainer 13 Down Payment Assistance for the Consumer 10:00 am 11:30 am $5 $7.50 $10 NA Aaron Johnson 13 Facebook Secrets for Agent Success 12:00 pm 1:30 pm $5 $7.50 $10 NA Aaron Johnson 14 Paragon Tips & Tricks 9:00 am 12:00 pm Free Free Free NA Sandicor Trainer 19 Digital Ink & zipvault 9:00 am 12:00 pm $17 $20 $23 NA Joel Carlson 20 Contract Essentials 8:30 am 5:00 pm $68 $80 $104 8 CP Kevin Burke 21 Ethics 9:00 am 1:00 pm Free Free Free 4 ET Dan Hill 21 Mortgage 101 for REALTORS 9:30 am 10:30 am $10 $10 $20 NA Bill Gaylord 26 / 27 Real Estate Negotiation Expert 9:00 am 5:00 pm $169 $199 $229 NA Ginni Field 27 Paragon Tips & Tricks 1:30 pm 4:30 pm Free Free Free NA Sandicor Trainer For easy registration and more information, visit or call (858) Classes subject to change or cancellation. Check for current information. R-Plus = REALTOR Plus price RMS = Risk Management Specialist price 26 THE SAN DIEGO REALTOR AUGUST 2017