ArcadiaREALTOR®The Official Publication of the Arcadia Association of REALTORS®

VOL. 18, NO. 2WWW.THEAAR.COMFEBRUARY 2014

PROUDLY SERVING THE REALTORS® OF ARCADIA, BRADBURY, DUARTE, MONROVIA AND SIERRA MADRE

See page 8

2014 AnnualInstallation of

Officers & Directors

2

Arcadia Association of REALTORS®601 South First Avenue

Arcadia, California 91006626.446.2115

626.446.4072 FAXwww.TheAAR.com

2014 ASSOCIATION OFFICERSMike Vachani {President}

Joe Pacilio {President-Elect}Roy Blume {Vice-President}

Sylvia Ramos {Secretary/Treasurer}

2014 ASSOCIATION DIRECTORSMicah Adams

Ryan AsaoAndy Bencosme

Kelvin ChangMargaret Garemore

John LeeMark Ramos

Dave ScarminachIrene Yamagata -Bermudez

2014 C.A.R. DIRECTORSRyan Asao

Andy BencosmeMargaret Garemore

Joe PacilioRandall Traw

Mike VachaniKelvin Wong

ARCADIA ASSOCIATION STAFF

Robin Allen Ext. 307 Director of Finance / Office Manager Robin@TheAAR.com

Michael Beltran Ext. 302 IT Director / Webmaster Michael@TheAAR.com Brenda Faltes Ext. 304 Director of MLS Data Integrity, Supra & Social Media Brenda@TheAAR.com Jamie Hu Ext. 309 Administration Jamie.Hu@TheAAR.com

Stephanie Maertens Ext. 303 Director of Education, Publications & MLS Caravan Stephanie@TheAAR.com

Maria Roberts Ext. 305 Director of Membership & Professional Standards Maria@TheAAR.com Jane Shriver Ext. 301 Director of Association Services Jane@TheAAR.com

Andrew Cooper Ext. 308 Chief Executive Officer Andrew@TheAAR.com

{ Arcadia REALTOR® | February | Two Thousand and Fourteen | Volume Eighteen | Number Two}02.14

ArcadiaREALTOR®

February 2014

REGULAR FEATURES

4 Events Calendar

4 From the CEO’s Desk Andrew Cooper, Chief Executive Officer

5 Attorney Comments Dave Freeman, AAR Legal Counsel

6 Market Matters

9 Affiliate Corner “THE BIG QUESTION… Does My Client Have Liens?” Joseph Haggerty, Nations Title Company

10 Through the Lens A Look at What’s Happening Around the AAR

3

ON THE COVER8 2014 Annual Installation of Officers & Directors A recap of the recent Casino-themed 2014 Installation.

ADDITIONAL CONTENT3 AAR New Members The AAR welcomes its newest REALTOR® Members

5 2013 Affiliate of the Year, Maria Howard Congratulations to our 2013 Affiliate of the Year Award winner, Maria Howard, First American Natural Hazard Disclosure.

9 Annual Membership Dues Contest Announcing the winners of the 2014 “Pay Your Dues Early” Contest.

11 2013 REALTOR® of the Year, Paulina Lee Congratulations to our 2013 REALTOR® of the Year Award winner, Paulina Lee, Keller Williams West Foothills.

11 2013 REALTOR® of the Year, Andy Bencosme Congratulations to our 2013 REALTOR® of the Year Award winner, Andy Bencosme, Century 21 Village.

11 2013 Community Service Award, Mary Margaret Rolf Congratulations to our 2013 Community Service Award winner, Mary Magaret Rolf, Dilbeck Real Estate

Arcadia REALTOR® Magazine3

AAR New Members The Arcadia Association of REALTORS® would liketo formally welcome our newest REALTOR® members!

AAR new members with Membership Committee Vice Chairman, Cindy Shiao and 2014 President, Mike Vachani are (in no particular order): Karina Akhmedova, Keller Williams West Foothills; Linda Chan, K & L Properties Inc.; Eric Chang, Highland Real Estate; Kanghsiang Chen, Pacific Realty Center; Sheng Chen, IRN Realty; Zheng Cheng, Highland Real Estate; Eddie Chiang, Coldwell Banker George; Jonathan Chien, ADW Realty; Marcella Go, RE/Max Omega Monrovia; Jan Greteman, Prudential California Realty; Francis Ha, IRN Realty; Xiao He, IRN Realty; William Hsu, Coldwell Banker George; Lee Hau, Keller Williams West Foothills; Kasi Hyrapett, Keller Williams West Foothills; Donald La, Keller Williams West Foothills; Natalie La, Long Dragon Realty Group, Inc.; Chak Lam, Grandmark Realty Inc.; Cynthia Li, Champion Character Inc.; Xianling Li, Highland Real Estate; Canbin Lin, Treeline Realty & Investment; Chun-Chieh Lin, Castlewood Corporation; Kevin Lin, Coldwell Banker George; Shiyue Liu, Highland Real Estate; Zaira Lugo, Cal Mutual; Jennifer Mooc, Highland Real Estate; Yolanda Murph, Castlewood Corporation; Weijun Qiu, IRN Realty; Edgardo Rivera, Coldwell Banker Dynasty Arcadia; Peggy Still, Century 21 Adams & Barnes; Siu Tam, J W Mortgage & Properties Inc.; Amy Tang, Keller Williams Realty; Yun Tu, Coldwell Banker Dynasty T.C.; Maria Villacisneros, Coldwell Banker New Century; Alice Wang, Alice A Wang; Qing Wang, Century 21 Ludecke Inc.; Shannon Watson, Coldwell Banker Arcadia; Jianwei Xie, Highland Real Estate; Changqing Xiong, POA Investment; Jun Xu, Coldwell Banker George; Yang Yang, Jeau Hwang; Hong Zhou, Highland Real Estate; Finney Wei, IRN Realty and Robert Fernandez, Oasis International Realty Inc.

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FROM THE CEO’S DESK

Dear AAR Members,

On behalf of your 2014 Board of Directors, I’d like to thank all the AAR REALTOR® Members including our Affiliate members who have wisely chosen to renew their

membership or transfer their membership to the Arcadia Association of REALTORS® in 2014. We’re on track for a record number of renewals and incoming Realtor® transfers as of this writing in late January.

2014 marks the 90th Anniversary of the AAR and it promises to be another great year in your Association for many reasons beyond our anniversary. Here are just a few things coming your way:

•ASingleSign-On(SSO)featureforallyour websites! This means just ONE PASSWORD for CRMLS, AAR, CAR, NAR, RPR and many more websites you use for your business!

•TheAARiscelebrating90yearsin2014sowe’ll feature fun anniversary events throughout the year

•AnAAR“FamilyDay”designedfortheentire family

•MoreDesignationcourses

•Ourmega-popular“AARPaperShredDay”willbe returning

•MoreAARstore“specials”andpromotions

•ThebrandnewAARSpeechClubdesignedto help our members with their public speaking and business presentations

•Manymoreexcitingitemsandprograms

On behalf of your 2014 Board of Directors, your dedicated AAR staff and the entire AAR leadership team of Committee Chairs, we all thank you once again for your renewed loyalty to the AAR.

M 3 9:00a.m-2:30p.m.-“FundamentalsofTransaction Coordination”

T 4 10:00a.m.-12:00p.m.-ZipformPlusTraining 11:00a.m.-GlobalRealEstateCommitteeMtg.

W 5 8:00a.m.-LunarNewYearCelebration 8:30a.m.-MLSCaravan 9:30a.m.-Events4CharityAuxiliaryMtg. 5:00p.m.-8:00p.m.-E4CCharityWine&CheeseTasting

Th 6 9:30a.m.-Commercial/InvestmentCommitteeMtg. 11:00a.m.-CommercialEducation&NetworkingSession

F 7 12:00p.m.-1:30p.m.-AARSpeechClub

M 10 8:30a.m.-3:00p.m.-CRMLSTraining

T 11 11:00a.m.-Tech/YPNCommitteeMtg. 2:00p.m.-3:00p.m.-“Proxio”Training

W 12 8:30a.m.-MLSCaravan 8:45a.m.-AffiliateCommitteeMtg.

Th 13 9:00a.m.-10:30a.m.-“RealEstateFraud”

F 14 10:00a.m.-11:30a.m.-CRMLSTraining

M 17 AAR Closed in Observance of Presidents’ Day

T 18 2:00p.m.-EducationCommitteeMtg.

W 19 8:30a.m.-MLSCaravan 9:30a.m.-EqualOpportunity/HousingAffordability Committee Mtg. 1:30p.m.-LocalGovernmentalRelationsCommitteeMtg.

Th 20 11:00a.m.-12:00p.m.-Lunch&LearnSeriesClass 4:00p.m.-5:00p.m.-GlobalNetworkingEvent:“Dealing withForeignBuyersandInvestors” 6:00p.m.-8:00p.m.-“AppyHour”

F 21 12:00p.m.-1:30p.m.-AARSpeechClub

M 24 9:00a.m.-12:00p.m.-“UnderstandingtheImpactofthe EconomyandtheStockMarketonRealEstate”

T 25 1:30p.m.-BudgetandFinanceCommitteeMtg. W 26 8:30a.m.-MLSCaravan

Th 27 1:00p.m.-2:00p.m.-“TheTruthAboutMold andMoisture”

F 28 8:30a.m.-BoardofDirectorsMtg.

February 2014

February Events

Andrew CooperChiefExecutiveOfficer

For more information on upcoming AAR classes and more,visit www.TheAAR.com

and click “Upcoming Events”

AttorneyComments

By Dave Freeman, Association Counsel

February 2014

1. TITLE SEARCH - EARLY; Last month I discussed the importance of obtaining and carefully reviewing the preliminary title report, prior to listing a property or making an offer on it. A very important similar issue can come up involving a 1031 taxdeferredexchange.Ifyourclientisinvolvedina1031exchange,andidentifies three properties during the45dayperiodrequired,oncethis period has run, your client can no longer identify other properties. If the property or properties you have identified are not available, or do not belong to the party to whom you made an offer, the ability to completethe1031exchangemaybeeliminated. After the 45 day period hasexpired,nofurtherpropertiescan be identified and included in the exchange.

Thetaxramificationofthiscanbe enormous. Therefore, always check the titles of the properties your client is interested in purchasing or identifying as the replacement property(s)ins1031exchange,as

well as a normal purchase.

2. DEATH ON THE PROPERTY; A recent stabbing in our area brings forth an important disclosure element. A death on the property must be disclosed, if it occurred within the last 3 years. But what if a person died in the property more than 3 years ago, or, as in the current case, in a condominium in the same complexbutnotintheunityouareselling or purchasing? Must this be disclosed?

The law does not appear to requiredisclosureofthisfact.However, this information may be extremelyimportanttoyourclient.Therefore, to properly represent your client-purchaser,directinquiryofthese facts may be a good idea.

3. ABANDONMENT OF LEASES; Recently, I have seen an increase in abandonment of leases in commercial properties. This may be because of businesses failing, or need to move to larger offices or a

different area. If there is a lease for afixedperiodoftimethathasnotexpired,thelandlordfrequentlywilldemand payment for the remainder of the lease, or until the landlord can re-renttheproperty.Iftheleasedoesnotexpireforanotheryearormore,thiscanbeextremelyexpensiveandoften leads to litigation.

Therefore, the tenant would be well advised to negotiate a reasonable buyout of the lease with thelandlordpriortoexecutinganewlease elsewhere. More importantly, tenants or prospective tenant should carefully consider the possibility that they may not be able to or wish to remain in that lease for a lengthy period. A good practice would be to attempt to negotiate an option to terminate the lease at certain intervals, at a particular price. This negotiation should be accomplished priortoexecutingthelease,whilethelandlordisstillanxioustorentthespace.

Arcadia REALTOR® Magazine5

By Nikki Felix, Wells Fargo, 2012 Affiliate of the Year

This year’s Affiliate of theYearrecipient,MariaHoward, is from a large family of siblings and has a daughter. She is constantly on the move and is an avid runner. She has run in both ½ marathons and full marathons. She also enjoys golfing as part of the Latina Women’s Association.

Not only is Maria involved with the Arcadia Association of REALTORS®,sheisalsoinvolvedintheWestSanGabrielValleyAssociation of REALTORS® and NAHREP’s Los Angeles Chapter. ShehasreceivedtheAffiliateoftheYearAwardin2010fromtheGlendaleAssociationofREALTORS®.

For the Arcadia Association of REALTORS®, she was the Affiliate Committee Chairperson last year and will hold that position again this year. I am honored to have presented the 2013 Affiliate of theYearawardtoMariaHoward,FirstAmericanNaturalHazardDisclosure! Congratulations Maria!

2013 Affiliate of the Year, Maria Howard

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MarketMatters

Market Statistics for the San Gabriel ValleySingle Family Homes Condominiums SFR Only

City Zip Code

Sales of Single Family

HomesPrice Median SFR ($1,000)

Price % Chg from

December 2012

Sales Count

Condos

Price Median Condo

($1,000)

Price & Chg from

December 2012

Median Home Price/

Sq. Ft.Alhambra 91801 9 $568 15.9% 12 $425 11.5% $368Alhambra 91803 8 $562 37.8% 4 $405 n/a $390Altadena 91001 41 $530 12.5% 2 $1,160 26.1% $388Arcadia 91006 25 $1,118 14.6% 8 $623 -0.2% $511Arcadia 91007 17 $1,320 1.1% 15 $500 31.1% $626Azusa 91702 27 $358 23.4% 7 $277 14.2% $311Duarte 91010 10 $355 29.1% 5 $222 -20.2% $364El Monte 91731 6 $362 19.3% 2 $300 -7.7% $353El Monte 91732 8 $355 10.8% 6 $358 0.0% $301El Monte - South 91733 10 $371 33.5% 3 $399 48.3% $324Glendora 91740 16 $418 22.8% 2 $354 n/a $260Glendora 91741 20 $548 2.9% 3 $360 21.9% $321La Cañada Flintridge 91011 16 $1,255 6.8% 1 $538 n/a $543La Verne 91750 22 $536 26.3% 5 $420 107.7% $280Monrovia 91016 23 $457 -1.1% 7 $450 61.3% $370Pasadena 91101 n/a n/a n/a 8 $445 -1.1% n/aPasadena 91103 15 $555 44.2% 4 $489 20.2% $361Pasadena 91104 29 $647 23.2% 4 $380 n/a $428Pasadena 91105 10 $1,221 24.3% 6 $755 12.7% $521Pasadena 91106 4 $1,625 92.0% 11 $450 12.5% $657Pasadena 91107 30 $699 16.7% 8 $468 57.7% $458Rosemead 91770 14 $530 44.2% 2 $391 2.8% $319San Gabriel 91775 18 $757 10.8% 1 $300 0.8% $444San Gabriel 91776 14 $506 24.9% 3 $398 21.3% $383San Marino 91108 14 $1,993 16.4% n/a n/a n/a $701Sierra Madre 91024 6 $646 -25.3% n/a n/a n/a $463Temple City 91780 22 $674 28.3% 5 $396 -13.9% $428

Source: DQNews.com

December 2013

February 2014

7Arcadia REALTOR® Magazine

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February 20148

The Arcadia Association of REALTORS® recently installed the new 2014 Officers and Directors at the 90th Annual Inaugural Celebration held on Friday, January 10th at Noor Ballroom at Paseo Colorado in Pasadena. More than 180 REALTORS®, Affiliatesandguestsattendedthecasinogaming-themedevent.

MasterofCeremonyfortheeveningwasNickZigicwithProminenceCapitalAdvisors.TheInstallationceremony was conducted by Mr. Anthony Portantino.

TheOfficersinstalledwere:MikeVachani,President;JoePacilio,President-Elect;RoyBlume,VicePresidentandSylviaRamos,Secretary/Treasurer.The2014Directorsare:MicahAdams,RyanAsao,AndyBencosme,KelvinChang,MargaretGaremore,JohnLee,MarkRamos,DaveScarminachandIreneYamagata-Bermudez.

TheInstallationceremonyof2014President,MikeVachaniandOfficersandDirectorswasfollowedbythepresentationofthecoveted“REALTORoftheYear”awardpresentedtobothAndyBencosme,Century21VillageandPaulinaLee,KellerWilliamsWestFoothillsandthe“AffiliateoftheYear”awardpresentedtoMariaHoward,FirstAmericanNaturalHazardDisclosure.

Outgoing President, Andy Bencosme, received special honorariums and recognition from the City of Arcadia, City of Sierra Madre, Congresswoman Judy Chu, U.S.Representativefor California’s 27th Congressional District; Assemblyman Ed Chau, California State Assemblyman representing the 49th District and Jeffery Prang, Los Angeles County Assessor’s Office.

Acknowledgement of special guests included eight Arcadia Association Past Presidents alongwithPresidentsandAssociationExecutivesfromseveralneighboringAssociations.

Las Vegas Casino Night

2014 AAR Officers & Directors being sworn in are (L to R): John Lee, Director; Margaret Garemore, Director; Ryan Asao, Director; Micah Adams, Director; Andy Bencosme, Director; Kelvin Chang, Director; Mark Ramos, Director;

Sylvia Ramos, Secretary/Treasurer; Roy Blume, Vice-President; Joe Pacilio, President-Elect. Not shown: Mike Vachani, President; Dave Scarminach, Director and Irene Yamagata-Bermudez, Director.

2014 President, Mike Vachanigives his acceptance speech.

(Ceremony Photos Continued on Page 10)

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Affiliate Corner“THE BIG QUESTION… Does My Client Have Liens?”

By Joseph Haggerty, Nations Title Company

Oneofthemostcommonquestionsisalltoooften not answered early enough in a real estatetransaction.AsimpleSI(StatementofInformation)isthekeyrequirementfromtitleto clearing the name of your seller or borrower (inthecaseofarefinance).Thoughliensand judgments can also be recorded against the property itself, those will appear on a

preliminarytitlereportandquitepossiblyonasimplepropertyprofile. Liens against a name include, state, local and federal taxliens,childsupportandjudgmentsfromeithercreditorsorclaimants in lawsuits.

Theselienswillbeincludedinaprelimandarerequiredtobe satisfied or cleared before close of escrow. Avoidance of satisfaction in the case of a lien or judgment in a real estate transaction is not an option unless the party placing the lien givesauthorizedofficialinstructionstoallowthetransactiontotakepriority(thisisnoteverlikelythecase).Inordertoanswerthebigquestionandsaveyourseller,potentialbuyerandevenyourself from stress and grief; I suggest asking for the SI to be filled out ahead of time along with all other agreements and contracts.

As a real estate agent, you might view your clients sometimes as a new friend and someone you want to build a close and trusting relationship with to ensure that future transactions are in the picture. With this in mind, you must also consider the possibility of last minute problems such a child support lien or judgment causing your deal to fall through. Balance is the

key. Bundle the SI with all other forms that are filled out with your listing agreement and save yourself from having to ask for it separately. Some red flag characteristics that might warrant asking for the SI ahead of time include but are not limited too; past divorce, bankruptcy, client owns or has owned a business and/ortheclientisaninvestorofsomesort.

What is a Statement of Information and How Does it Work?

The SI is a one page document that should be included immediately at the opening of escrow and forwarded directly totitleuponrequestofthepreliminarytitlereport.Thisformincludes the party’s full name, social security number and date of birth, along with current and 10 years of previously know addresses.

Thisinformationallowsthetitlecompanytocross-referencethesubject party in order to clear or prove items such as liens or judgments matching the subject party. The SI is reviewed by a titleofficeruponrequestoftheescrowcompany,andonceagainwhen escrow has given instructions to close your transaction.

If you are starting to work with a new client and want to getagoodideaaheadoftime,youcanalwaysinquireforan unofficial review of your clients’ history by calling a licensed title professional or title companies’ customer service department.

For more information on title related issues please contact Joseph Haggerty at 626.340.6496 or e-mail him at joeh4title@gmail.com

9Arcadia REALTOR® Magazine

Annual Membership Dues ContestThe AAR recently held a membership contest as an incentive

for members to pay their annual Association dues before December31st.Over1,300AARmembersqualifiedforthiscontest.Theprizesforthewinnerswere:$100,$75

and$50Visagiftcards.ThedrawingtookplaceonJanuary15th at the MLS Caravan meeting at the Masonic Center.

Congratulations to the winners!

Not shown: Nellie Chen, IRN Realty,$100Visagiftcardwinner$50 Master Card gift card goes to

German Ghibaudo,Century 21 Ludecke Inc.

$75 Master Card gift card goes to Tawny Ky, Keller Williams Realty.

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A Look at What’s Happening Around the AARthroughthe lens

10February 2014

2014 AnnualInstallation ofOfficers & Directors

11

Presented by George Monte, 2012 Award Recipient

We are delighted to announce that our Nominating Committee has chosen not one, but two very special people to receive the coveted“REALTOR®oftheYear”award this year. This award is given to someone who has had business success, who is advanced in their real estate education and designations, who participates in their local Association and protectsandpromotesorganized

real estate, among other things.

Thefirstawardwinner,PaulinaLee,immigratedtotheUnitedStates at a young age with no idea where her future would takeher.HerfirstjobintheUnitedStateswasasabartender.The long hours of this position did not work well for her and her family. Therefore, she looked for a career that would have flexiblehours.Thus,becomingaREALTOR®!

Paulina has been a member of the Arcadia Association of REALTORS®forjustover22years.Sheisextremelyactiveinthe commercial, investment and business opportunity arenas of realestate.Throughouttheyears,shehasobtainedtheGraduateREALTOR® Institute Designation, the Certified International Property Specialist Designation and the Transnational Referral Certification. She is also a Business Opportunity member of California Business Brokers and has served as President of the Arcadia Association of REALTORS®.

Although, she is passionate about real estate, her interests are not restricted solely to this area. She also enjoys gardening, growing orchids, ballroom dancing and shopping.

It was my honor and privilege to present one of the coveted “REALTOR®oftheYear”awardstoanesteemedcolleagueandpersonal friend of mine, Paulina Lee, Keller Williams West Foothills!

Arcadia REALTOR® Magazine11

Presented by Irene Yamagata, 2010 Award Recipient

The Community Service Award this year was presented to a very deservingindividual-MaryMargaret Rolf, Dibeck Real Estate. The award is presented to someone who is very active within both the Association and within their local community. The Arcadia Association highly values its local communities and finds importance in giving back. We are honored that so many of our members find value and importance in this as well.

Mary Margaret is a native of Southern California and has been a member of the Arcadia Association of REALTORS® for just over 23 years. Throughout that time, she has been very involved in volunteering within her church and also within the real estate community. She joined the AAR Real Estate Professionals CharitableGivingCommitteeshortlyafterbecomingamemberof the AAR. In more recent years, she has been a member of the sameCommittee,nowcalledEvents4CharityAuxiliary,for7consecutive years.

She has been a key role in planning all of the AAR charitable events and assisting the Association in giving back over $160,000tolocalcharitiessinceshehasbeenapartoftheAAREvents4CharityAuxiliary.Thisyear,shehasvolunteeredtostepup and take on the role of Chairperson of this important facet of the AAR.

It was my honor and privilege to announce the winner of this outstandingaward-MaryMargaretRolf,DilbeckRealEstate!Congratulations Mary Margaret!

2013 Communityservice award, Mary

Margaret Rolf

2013 REALTOR® of the Year, Paulina Lee

Presented by George Monte, 2012 Award Recipient

Our“REALTOR®oftheYear”winner,AndyBencosme,wasbornandraisedinNewYorkCity.UponreceivinghisBachelorofArtsdegreeatQueensCollegeoftheCityUniversityofNewYork,hedecidedtofleethecoldweatherandretreattoFlorida,wherehebecameahighschool history, journalism and photography teacher. Andy then went on to complete a Masters degree in Business Administration from St. Leo College in Florida.

2013 REALTOR® of the Year, Andy Bencosme

(Continued on Page 12)

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Andy then decided to leave behind the teaching profession and instead, pursue the internet world with a position at EarthLink in Pasadena. While working here, he obtained his real estate license.Onetransitioningtorealestatefull-time,heobtainedhis Brokers license and became active in the local Association. Andy has been a member of the Arcadia Association of REALTORS® for 10 ½ years.

He also has passions outside of the real estate world. He has been a youth sports coach, he has served on the Monrovia Library Board and has been actively involved in Kiwanis, MENSAandtheMonroviaOldHomePreservationGroup.He also has served as President of the Arcadia Association of REALTORS®.

Itwasmyhonortopresentthesecondprestigious“REALTOR®oftheYear”awardtoAndyBencosme,Century21Village!

2013 REALTOR® of the Year, Andy Bencosme

(Continued from Page 11)