CAR is now Ambassador Association to the Real Estate Institute of Australia

The California Association of REALTORS® is now NAR's Ambassador Association to REIA, the Real Estate Institute of Australia. CAR President Steve Goddard will be traveling to Australia March 18 - 31 to attend REIA's National Conference and Awards event in Adelaide on Thursday, March 25th.
http://www.reia.com.au/real-estate-australia-national-awards-2010.php

REALTORS: Travel with Steve (or join him there) and help represent CAR at the Australian conference. While travel funding is not available, this Ambassadorial trip could be the perfect opportunity to increase your knowledge of the Australian real estate market and build your international business.

Qantas, V Australia, United, and American Airlines offer nonstop flights to Australia. Qantas and V Australia are offering flight specials to Australia which expire very soon. If your travel agent doesn't do it for you, you must to apply online for an Australian visa or an ETA (Electronic Travel Authority): http://www.eta.immi.gov.au/

Looking forward to having some fun Realtors join us on this trip.

Steve Goddard
President California Association of REALTORS® 2010
Steve@SteveGoddard.com

Tashia Hinchliffe
TashHD@aol.com
2009 & 2010 International Committee Chairwoman - South Bay Association of REALTORS®
2010 CAR Director - California Association of REALTORS®

Are you a commercial practitioner?

NAR is conducting a survey of commercial members to find out how changes in the economy and the markets impacted your business in 2009. Analysis of these survey results will allow NAR to more effectively serve you, as well as provide valuable information that you can use to enhance your business. In addition, the results of the survey will serve as a valuable foundation for NAR’s policy and regulatory efforts in support of commercial real estate. We encourage all international commercial practitioners to provide feedback. Take the survey

World on the Mend

While housing markets in the world’s leading economies remain distressed, hope is on the horizon. According to globalpropertyguide.com of the 27 countries which have already published their Q3 data, 16 countries have experienced rising prices and falls in only 11 countries. Economies such as the UK, Canada, Germany, Singapore, and South Africa are finally noting positive price changes quarter-on-quarter after being negatively affected during the economic slump. Of this group, the rising prices in the UK, Canada, Germany, and South Africa are the first after suffering declines every quarter since 2008. While some markets’ increases are more modest than others, the over-arching trend is toward recovery. More information on specific housing markets is available at globalpropertyguide.com.

A New No. 1?

The long-standing real estate top performer is on the brink of losing its status. As one of the first countries to raise interest rates since the global recession began, Israel has the market concerned that the higher rates will discourage borrowers and lead to a drop in property purchases. The rate currently stands at 0.75%, and will likely increase in an effort to fight inflation. According to propertywire.com some economists are predicting that interest rates will go up to 2.5%. This could mean a decline in property prices, but are more likely to stabilize than plummet.

Foreign Buyers Taking Advantage of Slashed Prices

If you haven't been looking outside the U.S. for potential buyers, it might be time to start. International investors bought 154,000 homes and condos in the 12-month period ending in May, and are continuing to take advantage of the weak dollar. The U.S. dollar has dropped 9 to 11 percent since June against foreign currencies like the Japanese yen, the European euro and the Canadian dollar. Another attractive feature is that, while the U.S. dollar has weakened significantly, the economy is showing signs of stabilizing along with the housing market. A plus for REALTORS®? Nearly 46% of international home buyers paid cash for homes purchased, and the median price foreign buyers paid for a home was nearly $80,000 greater than the U.S. national median price. According to msnbc.com buyers from Brazil, Canada, France, and the Netherlands have paid mostly cash for second homes ranging from $6 million to $15 million in condo buildings.

Photo highlights from the California Dreaming Tour

These photos from the California Dreaming Tour were brought to us by REALTOR® and SBAOR member Marija Terzic.



Trump National Golf Course




At the California Dreaming Tour opening reception on Sunday, November 8.




At Blenheim Farms, San Juan Capistrano, CA





At Blenheim Farms, San Juan Capistrano, CA

Highlights from the California Dreaming Tour

On November 8-10, 2009, the South Bay Association of REALTORS® and the San Diego Association of REALTORS® hosted the California Dreaming Tour, an very special event leading up to the National Association of REALTORS® Convention & Expo in San Diego, November 11-15.

Attendees on this extraordinary tour got an insider's peek at properties and places that are unique to the South Bay and San Diego communities. We are delighted that the event was a huge success and that the results have been spectacular. A special thank you to everyone to helped make it possible, including the South Bay Association of REALTORS® International Committee and our friends at the San Diego Association of REALTORS®: Michael Harris, Liz Saidkhanian, and REALTORS® Griselda Mendoza-Cadman and Dianne Rath. Later posts will show more photos and stories about the tour.