Newsletter | September 2011  

 

CREAA header

CREAA OFFICERS
  
Amy Kong
President

Albert S. Tam
President-Elect 

Allen Ching
External Vice President

Joan Hume
Internal Vice President 

Olivia Chiu   

Recording Secretary

 

Tina Wong
Correspondence Secretary 

Juanita Leung
Treasurer 

Louis Woo
Auditor
BOARD OF DIRECTORS

Christina Chung
Chairperson of the Board 

Allen Ching
Olivia Chiu
Carmen Chong
Garrett Choy
Loli Chung
Jean Dunn
Eva Hom
Polly Hu
Joan Hume
Amy Kong
Juanita Leung
Christopher Lim
Manuel Quijano
Eugene Pak
Albert Tam
Eric Tang
Daniel Y. Wong
Samson Wong
Tina Wong
Celeste Woo
Louis Woo
Nelson Zhang

 
 
HONORARY DIRECTORS

Allen Okamoto
Hon. Mae C. Woo

E-NEWSLETTER BOARD

Fanny Chu
Garrett Choy
Ted Fang
John M. Lee
Angela Pang
Jeffrey P. Woo, Esq.
Samson Wong
ABOUT CREAA
CREAA logo2
The objectives of the
Chinese Real Estate
Association of America
is to: promote property
ownership, enhance
the rights of property owners, and to advocate policies which enhance the economic benefits of property ownership.

http://creaausa.org/ 

 

 
NEWSLETTER PARTNER
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EVENT PICTURES
CREAA Photo Gallery

CORPORATE
SPONSORS


Diamond: 

 

Bank of America

www.bofa.com

 

HSBC

www.hsbc.com

 

Platinum: 

 

Christina Chung

www.christinachung.com 

 

Cooper White & Cooper

www.cwclaw.com  

 

Realty World Advance Group 

 www.amykong.com

 

Wells Fargo Bank

www.wellsfargo.com

Gold: 
 

Chase

www.chase.com 

 

JCP-LGS

www.disclosures.com 


Property ID

www.propertyid.com 

 
   
Silver: 

Bankers Preferred
www.bankerspreferred.com 

   

CC Legacy/OneRes Bay Area Realty 
www.oneresbayarearealty.com

 

Harry K. Jeung, CPA
www.jeungcpa.com  

   


Win Home Inspection
www.wini.com


RESOURCE LINKS

NAR-National Association of Realtors

www.Realtor.org 

 

CAR-California Association of Realtors

www.car.org 

 

SFAR-San Francisco Association of Realtors

www.sfrealtors.com 

 

NAR Housing Opportunity

 

www.realtor.org/housopp

 

 

AREAA- Asian Real Estate Association of Realtors

www.areaa.org 

 

DRE-Department of Real Estate

www.dre.ca.gov




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PRESIDENT'S QUARTERLY MESSAGE   

Amy Kong

 

 

By Amy Kong

CRB, CRS,GRI, CDPE

President, 2011   

www.amykong.com  

 

 

 

How's everyone doing in the last two month's?  

 

Certainly,CREAA has been acting on all aspects of real estate:

  • Bank of America and CREAA actively partnered to help distressed homeowners to stabilize their financial and foreclosure situations. Held for three days at the South San Francisco Conference Center, many CREAA  Board of Directors participated (see below);
  • Also with Bank of America, CREAA participated in the special "Pilot Training Program of a Short Sale File Process Live via Equator through the test system".

We also do fun community-oriented things like supporting SF AIDS Walk and Habitat for the Humanity.

 

With the summer concluding, many educational seminars and mixers are coming in the next few weeks and months,  including the October 21 mixer where 20 percent of the gross receipts go to EARN.org

 

Please join us and network. We look forward to your participation, because together, we make a difference!

 

Thank You.

 

SF AIDS Walk CREAA/BA 2011

Joan Hume, Garrett Choy, Peggy Lo, Daniel Wong, Kathy Young (from Bank of America) and Amy Kong doing the SF AIDS WALK (photo courtesy of Garrett Choy) 

 

 

 

 

  

CREAA IN THE COMMUNITY

 

Introduction: The recent tone of the SF mayoral campaign led CREAA to publish the following open letter to the community. The September 8 Chinese -language half-page ads in Sing Tao and World Journal newspapers were drafted by Jeff Woo and Samson Wong in English. Fanny Chu and Albert Tam reviewed the Chinese draft by Amy Chai

 

IT'S ABOUT HOUSING AND JOBS, NOT RACIAL INNUENDO

Open Letter to the Community

 

Dear Friends:

 

Our votes can make history on Election Day, November 8.

 

For the first time in 161 years, San Francisco has an Asian American Mayor, Public Defender, Assessor-Recorder, State Senator, State Assembly member, BART Director and four members of the Board of Supervisors, including the Board President. In a city where Asian Americans make up one-third of the population, five well respected leaders from our community are now running for Mayor.

 

For 34 years, the Chinese Real Estate Association of America (CREAA) has strived to make our American Dream of homeownership come true for San Francisco residents. While CREAA is non-partisan and does not endorse candidates, we know that our central mission is to ensure that the voices of aspiring and current homeowners and the Asian American real estate community are heard on important political issues of the day.

 

When ugly and shameful racial stereotypes and xenophobic campaign remarks by political figures are allowed to go unchallenged, Asian Americans and the real estate community must denounce such statements. Our leaders are not "dorky Chinese" or agents of a foreign government. Such comments only incite racism against our community.   Instead, our local political parties should embrace diversity in not just people but in ideas - especially when it comes to our American Dream.

 

We are disappointed that the San Francisco Democratic Party central committee did not endorse one worthy candidate among five well qualified Asian Americans running for Mayor. CREAA acknowledges that the endorsements maybe more about gamesmanship and personal power than racism. However, with time remaining before the November 8 election, the SF Democratic Party can uphold its highest ideals by considering more diverse endorsements for Mayor.

 

Since 1977, CREAA has been dedicated to serving Asian American homeowners in San Francisco. This election is about the economy and jobs - helping families find an affordable home, assisting struggling households cope with financing a home and spurring more home construction that will employ our contractors and construction workers who will dine in our restaurants and shop in our stores.

 

This election is not about racially coded phrases that divide us.

It's about the economy - jobs, business and our homes for our families.

 

Amy Kong, 2011 President

Albert Tam, 2012 President-Elect

John Lee, 2008 President; 2010 President, SF Association of Realtors*

Jeff Woo, 2006 President; 2012 President, SF Association of Realtors*

John Yen Wong, 1995 & 1996 President; 2005 President, SF Association of Realtors*

Allen Okamoto, Honorary Director; 1980 President, SF Association of Realtors*

 

Chinese Real Estate Association of America

Dedicated to the American Dream Since 1977

 www.CREAAUSA.org

 

 

Foreclosure Prevention Outreach Event

by Fanny Chu, CREAA President 2005

   

SOUTH SAN FRANCISCO, Calif._ More and more distressed homeowners holding upside-down value properties are struggling daily to keep their homes while falling behind in mortgage payments. In the past four years, many large Foreclosure Prevention Workshops around the country have attempted to assist distressed homeowners on the spot, including California - two in Los Angeles and the latest in the San Francisco Bay Area.

 

On August 18 to 20, one major lender, Bank of America, conducted a Foreclosure Prevention Outreach Event for 19,000 San Francisco Bay Area homeowners who received a special invitation to attend.

 

"The workshops were very meaningful and helpful to the consumers, but also myself" said Amy Kong, CREAA President, who nearly "broke down in tears" over cases like one retiree with a degenerative illness. "Sustainable homeownership is much more important nowadays," she said.

 

Daniel Wong, board member and a mortgage loan officer, said the "stories melt your heart" as he recounted one Central Valley homeowner who left at 4 am with his wife, young daughter and a carriage suitcase of mortgage documents.

 

At the September 8 CREAA board meeting, volunteers offered suggestions for future workshops and ways to encourage especially those reluctant to respond to communications from banks and mortgage companies, especially when the homeowner is late in the foreclosure process.

 

Aside from lender staff from all over the country, participating non-profit partners included:

 

  • National Association of Real Estate Brokers- Investment Division, Inc.
  • NID-HCA San Leandro-Chambers of Commerce
  • CREAA - Chinese Real Estate Association of America
  • Consumer Credit Counseling Service of San Francisco- San Francisco, HPF Affiliate and Santa Rosa Offices
  • Mission Economic Development Association
  • Money Management International Oakland
  • NID Sacramento
  • National Asian American Coalition
Volunteers at the Foreclosure Prevention Outreach Event (Photo courtesy of Amy Kong)

CREAA brought in the most volunteers with at least 25 volunteers providing diverse bilingual skills and serving as counselors for the three days. Homeowners attended workshops, received one-on-one counseling on their documents and direct lender loan modification assistance.

 

We encourage CREAA members to take part and support upcoming similar community events. Sincere appreciation goes to: Frurizalie Baclay, Adriana Castillo, Carmen Chong, Garrett Choy, Allen Ching, Olivia Chiu, Joseph Chu, Fanny Chu, Joan Hume, Kaye Kim, Amy Kong, Eugene Pak, Juanita Leung, Louis Woo, Tina Pham, David Lobato, Maureen Moyer, Thez Santos Christa Shahbazian, Suena Suen and Tina Wong.

 

Samson Wong contributed to this story.  

  

MORE CREAA IN THE COMMUNITY

 

SUNDOWN MIXER AT ONE RINCON CENTER

 

SAN FRANCISCO_ CREAA's spring featured mixer featured new SF District 2 Supervisor (Marina/Pacific Heights) Mark Farrell and Philip Kilbridge of Habitat for Humanity for the Greater San Francisco on April 21. CREAA members had the opportunity to view breathtaking sundown and evening views of the Bay Bridge and AT&T Ballpark at One Rincon Hill. Part of the mixer proceeds went to Habitat for the Humanity.

San Francisco-Oakland Bay Bridge day view from One Rincon Center (photo by Eugene Pak)
Philip Kilbridge of Habitat for Humanity (photo courtesy of Eugene Pak)

 

Supervisor Mark Farrell and Tina Wong (photo courtesy of Eugene Pak)
Kitty Lee(seated left), Peggy Lo, and Xavier Tsang check guest in (photo courtesy of Eugene Pak)
Eva Hom, Tina Wong, Manuel Quijano, Karen Kong, Allen Okamoto,and Fanny Chu (photo courtesy of Eugene Pak)

 
KEEP YOUR HOME CALIFORNIA

by Jean Dunn, Vice-President Chase Mortgage 

 

 

CREAA_Keep Home


 

The following are brief summaries of the programs available under Keep Your Home California. To see full program descriptions, click on the program name below.

  

Unemployment Mortgage Assistance Program (UMA) - Intended to assist homeowners who have experienced involuntary job loss. UMA will provide temporary financial assistance in the form of a mortgage payment subsidy of varying size and term to unemployed homeowners who wish to remain in their homes but are in imminent danger of foreclosure due to short-term financial problems. These funds can provide up to six months of benefits with a monthly benefit of up to $3,000 or 100% of the existing total monthly mortgage, whichever is less.

  

Mortgage Reinstatement Assistance Program (MRAP) - Intended to assist homeowners who have fallen behind on their mortgage payments due to a temporary change in a household circumstance. MRAP will provide limited financial assistance in the form of funds to reinstate mortgage loans that are in arrears in order to prevent potential foreclosures. These funds can provide benefits of up to $15,000 per household.

  

Principal Reduction Program (PRP) - Intended to assist homeowners at risk of default because of an economic hardship coupled with a severe decline in the home's value. PRP will provide capital to reduce outstanding principal balances of qualifying borrowers with negative equity. Principal balances will be reduced in an effort to prevent avoidable foreclosures and promote sustainable homeownership. The principal reduction program will most likely be a prelude to loan modification. (Servicers that contribute through matching funds increase the benefit for homeowners).

  

Transition Assistance Program (TAP) - Intended to promote community stabilization by providing homeowners with relocation assistance when it is determined that they can no longer afford their home. TAP will be used in conjunction with a servicer-approved short sale or deed-in-lieu of foreclosure program in order to help homeowners transition into stable and affordable housing. Homeowners will be responsible to occupy and maintain the property until the home is sold or returned to the servicer as negotiated. Funds will be available on a one-time only basis.

  

CALENDAR OF EVENTS

  

Sept 15 Thursday

How to Generate Income through Commercial Real Estate

 

Far East Cafe

631 Grant Avenue

San Francisco 

 

11:30-12:00 noon   Registration 

12:00- 1:30 pm       Program 

 

RSVP: Tina Wong @ 650-260-3498 or CREAAusa.rsvp@gmail.com  

Cost: $35 members, $40 non-members 

 

 

Sept 20 Tuesday-Sept 22 Thursday

California REALTOR EXPO 2011

 

San Jose Convention Center

150 West San Carlos Street

San Jose, California 

 

For more information on schedule and program, see: www.expo.car.org   

 

A network boom for all realtors with great opportunity to pick up free professional tips.Educational speakers are holding free seminars on a various topics of real estate. Many vendors are there in the Exhibit Hall and a number of chances to big prizes like laptops,iPads, gift certificates and more. This is an opportunity not to be missed.

 

Sept 27 Tuesday

CAR Leadership Summit

 

Bank of America

1455 Market Street, Conference Room, 9th Floor 

10am-3pm  

   

Sept. 29 Thursday-Oct.1 Saturday       

2011 AREAA National Convention (Register Now)

 

Palace Hotel

Two New Montgomery Street 

San Francisco, California 

 

Largest national event comes to San Francisco centering on professional development for real estate practitioners who have a passion for creating homeownership opportunities for Asian American consumers. Registration information is below [zoom to magnify documents] or call 760-918-9162 or email: Jennifer Minimo at jminimo@areaa.org

 

  

 

 

PLAY VIDEO

2011 AREAA CONVENTION-COMMERCIAL V1.2
2011 AREAA CONVENTION-COMMERCIAL V1.2

COME TO SAN FRANCISCO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Oct.17 Monday-Oct 21 Friday
Certified International Property Specialist (CIPS) Class

 

Embassy Suites Hotel

211 East Huntington Drive

Arcadia, California 91006

(626) 445-8525


The CIPS Designation is the only designation of its kind in the real estate community. A global perspective and distinct understanding of a global buyer and recognition with designees in nearly 40 countries. For more information, please check: 
www.TheAAR.com/CIPS.html

Oct 21 Friday
Mixer... TBA

 


Claim Your Membership Card & Benefits!  

by Joan Hume, Internal Vice-President and Membership Chair

   

Over thirty years ago, immigrants living in and around Chinatown were beginning to migrate to the "avenues" of the Richmond and Sunset Districts for less crowded housing conditions and better schools. Chinatown's few real estate agents helped home buyers negotiate the home purchasing process.

 

However, because of language barriers, sometimes they faced discrimination by some sellers and agents. A few of Chinatown's licensed agents brainstormed on how to overcome this obstacle and came up with the idea of a real estate association networking with other Chinese American agents to help each other on their listings.

 

This was the beginning of the Chinese Real Estate Association of America.

 

Since then, the organization has successfully promoted homeownership to the City's many new residents. Beyond Chinatown, CREAA has evolved to embrace multiethnic members and help homeowners on many City issues. CREAA meets San Francisco officials on issues and concerns affecting homeowners.

 

The City has taken heed of homeowners concerns too. From our organization, two past presidents, John Yen Wong and John M. Lee, were elected Presidents of SF Association of Realtors. Jeffery Woo is President-elect for 2012 SFAR.

 

Clearly CREAA is an organization to be reckoned with.

 

Members enjoy many benefits:

 

  • Inclusion in the Membership Directory
  • Attendance at social mixers
  • Attendance at educational luncheons
  • Membership discount from growing list of merchants (see below)
  • Community activities - SF AIDS Walk, Habitat for Humanity and foreclosure prevention
  • Winter Reception Dinner, free to members to meet, to have fun and network
  • Be part of a growing association with room to apply your talent and input

 

To new CREAA members, we thank you for your support and encourage you to let your colleagues know and come join us. Please pickup your 2011 membership card at our next event or mixer. Thank you for your support.

 

*Members Must Present Membership Card to Receive Discounts

 

Restaurants:

 

Café Mario 

354 El Camino Real, San Bruno, CA. 94066 / 650-737-9899 

10% off Dine In and Catering

                                                                                                         

G Cube Café (Shabu Shabu & Lounge)

1626 Taraval St. SF CA. 94116 /415-682-4578

10% off

 

House of Coffee

1618 Noriega St. San Francisco, CA 94122 / 415-681-9363

$1 off any drinks, $5 Off on $25 or more purchase 

                                                                   

Ichiban Sushi 

352 El Camino Real, San Bruno, CA 94066 / 650-873-2268

10% Off Lunch (Min $25) & 10% Off Dinner (Min $35)   

 

Jumbo Seafood Restaurant 

1532 Noriega St. San Francisco, CA 94122 / 415-681-1800

Free Lobster Noodle with minimum purchase of $100.00 

                                                     

Little Fire Pot Restaurant 

271 Lake Merced Blvd. Daly City, CA 94015 / 650-992-0888

10% off 

      

Oriental Seafood Restaurant

520 Noriega St. San Francisco, CA 94122 / 415-661-8808

10% off 

 

Yan Can Restaurant

3927 Rivermark Plaza, Santa Clara, CA 95054 / 408-748-3355  

or

35 Crescent Drive, Pleasant Hill, CA. 94523 / 925-827-4133

10% off                                                                                                                                                        

Auto Services:

 

Pro Speed Auto Body

562 Bryant St. San Francisco, CA 94107 /415-495-8999

10% Off                                                                                                                                                                            

Nissi Motors (Mechanics)

135 Clara St. San Francisco, CA 94107 / 415-597-9911

10% off on labor, free 1st time inspection    

 

Four Seas Auto Service

1037 San Mateo Avenue, San Bruno, CA 94066 / 650-616-8983

10% off

                                                                           

Others:

   

9 Sky Construction Services Inc.

715 El Camino Real # 201, San Bruno, CA, 94066 /415-602-2585 

10% off                                                       

 

Real Estate Overview Magazine

1500 Industrial Way, Redwood City, CA 94063/ 650-261-6288

10%  off                                                 

                                                                                                                            

Gift Entertainment (DVD Movies)

724 Jackson St., San Francisco, CA 94133 / 415-773-1161

10% off 

 

Dream Skin

1854 Magnolia Ave., Burlingame, CA 94010 / 650-697-7222

20% off on waxing, 10% off on facials                                                                                                       

Call for Sponsors
The Chinese Real Estate Association of America is currently looking for sponsors for our E-newsletter. For more information please contact:  Jeff Woo 415-765-6255 or woo@mypropertyrights.com