Last week, California Association of REALTORS® (C.A.R.) Region 9 Directors from the Silicon Valley Association of REALTORS® (SILVAR) joined their counterparts from across the state in San Diego for the C.A.R. Winter Business Meetings. Special committees on federal and state legislative matters, professional standards, taxation and government finance, land use and the environment, MLS policy, strategic planning, and other issues affecting the industry met and their members shared information with other C.A.R. directors.
SILVAR 2014 President David Tonna said the C.A.R. meetings give REALTORS® from the different regions of California the opportunity to assess how their housing market is doing compared with others in the state. "As much as the state is recovering from the housing crisis, there are areas that are still working through short sales," said Tonna. "We are really fortunate in Silicon Valley, where home values have recouped, with some better than the previous peak."
The installation of C.A.R. 2014 President Kevin Brown and lead officers Chris Kutzkey, president-elect; Geoff McIntosh, treasurer; and Joel Singer, CEO and state association secretary, also took place in San Diego. National Association of REALTORS® (NAR) 2014 President Steve Brown administered the oath of office to Brown, while 2013 NAR President Gary Thomas installed the officers.
Steve Brown praised California REALTORS® for their passion in promoting home ownership. What REALTORS® do is important, and California has led the way in the housing recovery, Brown said.
"You are in an extraordinary state with great talent," added Brown.
Brown noted 2013 had the highest number of sales since 2006 - a total of five million home sales, up 9 percent from 2012. The national median home price in 2013 was $197,100, which is 11.5 percent above the 2012 median and the strongest gain since 2005 when it rose 12.4 percent.
However Brown indicated price gains in some areas have been so high that consumers are now wrestling with a housing affordability issue. The number of first-time home buyers dropped for the first time in December 2013, accounting for 27 percent of purchases, down from 28 percent in November and 30 percent in December 2012.
Following the NAR president's remarks, C.A.R. President Kevin Brown addressed members. He stated during the downturn people began questioning the value of home ownership and whether it was the right direction for families. That the market has experienced a healthy recovery over the past two years is a significant sign, he said.
"Home ownership is more than just an investment. Home ownership is about building communities," said Brown. "I'm happy that today, home ownership is alive and well. It is still the American dream and Realtors are helping make this dream come true."
Both NAR and C.A.R. presidents said their goal this year is to raise the bar so the local, state and national REALTOR® groups efficiently deliver services to members, effectively communicate with members and consumers, continue standards of integrity and transparency, and strengthen their advocacy on major issues affecting home ownership, like the flood insurance program, FHA reform, and preserving Fannie Mae and Freddie Mac.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.