Message From the President

January 19, 2014,

Dear OC Realtist,

I hope that you are off to a blessed start in January and that your plans are well underway and new goals are being achieved. As a chapter we just completed our first Prayer Breakfast of the year. If you didn’t make it you really missed a great event. There was great food, dynamic singing, wonder fellowship and a dynamic message from Pastor Mark Whitlock of Christ Our Redeemer Church. We even received a certificate of recognition from Mayor of Irvine Steven Choi, Ph.D. for the Prayer Breakfast. I want to thanks Wells Fargo for continuing to be great partner and sponsor of all of our events. The Prayer Breakfast is great way to start the year.

Here is what’s going on in real estate so far this month: has reported that 1,222 cases of borrower compensation are under review. The Office of the Inspector General for FHFA is investigating possible violations of California law with regards to borrower contributions made on Fannie-related short sales. The GSE and FHFA are trying to counter this claim stating that the concerns are likely caused by incorrect data obtained by the OIG.

Zillow and AOL Real Estate have announced a partnership and Zillow will now be responsible for the home shopping experience of visitors to the AOL website. This announcement was made via a Zillow press release. The company has also announced that MLSs, brokers and agents will be able to list homes for rent or for sale free of charge.

According to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending Jan. 10, 2014, mortgage applications are up by 11.9%. This is a 61% week over week increase for the Index which may indicate the beginning of a positive trend for the new year. Congress also announced a spending bill this week designed to avoid another government shutdown. As a part of this bill, the Department of Housing and Urban Development will see its spending budget decreased to $32.8 billion in allocated funding, which is a $687 million reduction from its 2013 spending budget.

Here is a quick summary of the Real Estate Association events that will be taking place very soon:

  • – HUD Training with BLB Resources BE Extraordinary Selling and Marketing HUD Homes Extraordinary February 6, 10:00 to 1:00 PM, 2014
  • – NAREB Midwinter Conference is coming up on February 17-21, 2014 in Las Vegas.
  • – NAHREP will be hosting their Housing Policy & Hispanic Lending Conference on February 3-5, 2014 in Washington, DC.
  • – AREAA will be soon be hosting their 3rd annual Global Summit in New York City, NY on April 12, 2014
  • – The 2014 Five Star Conference will take place at the September 14 to 16, 2014 in Dallas.

Make sure to mark your calendars for these events and visit the respective websites to register as spaces will go quickly. I also invite you to become a member of the OC Realtist Chapter. The opportunities to grow your business by joining are enormous and are increasing steadily each year. If you would like to register, please visit

I hope that you will be able to find the time to take advantage of some of these wonderful educational opportunities. Let’s stay in touch. Call or email me if I can be of any assistance.