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Department of Real Estate
2009 Bay Area Multi-Cultural Real Estate Summit
Ethnicity of Buyers
40%
27%
22%
7%
3%
2%
White/Non-Hispanic
Hispanic, Latin American
Asian/Pacific Islander
Indian, India
African American, Black
Middle Eastern
SOURCE: California Association of REALTORS®
Ethnicity of Buyers
40%
27%
22%
12%
35%
30%
22%
12%
42%
25%
22%
11%
White/Non-Hispanic
Hispanic, LatinAmerican
Asian/PacificIslander
Other
All Buyers First-Time Buyers Repeat Buyers
SOURCE: California Association of REALTORS®
Age of Buyers
2%
36%
40%
11%
11%
6%
76%
18%
0%
0%
11%
53%
18%
18%0%
Under 25 years
25 to 34 years
35 to 44 years
45 to 54 years
55 to 64
All Buyers First-Time Buyers Repeat Buyers
SOURCE: California Association of REALTORS®
Median Age of Buyers
37
29
41
All Buyers
First-TimeBuyers
Repeat Buyers
SOURCE: California Association of REALTORS®
Ethnicity of Sellers
33%
28%
21%
11%
7%
1%
White/Non-Hispanic
Hispanic, Latin American
Asian/Pacific Islander
African American, Black
Indian, India
Middle Eastern
SOURCE: California Association of REALTORS®
Age of Sellers
2%
36%
39%
12%
12%
Under 25 years
25 to 34 years
35 to 44 years
45 to 54 years
55 to 64
SOURCE: California Association of REALTORS®
Sellers Median Age: 37
Median Age of Sellers
37
38
36
All Sellers
First-TimeSellers
Repeat Sellers
SOURCE: California Association of REALTORS®
Member Profile SurveyEthnicity of Members
19%
22%
13%
46%White/Non-
Hispanic
Hispanic, LatinAmerican
Asian
Other
SOURCE: California Association of REALTORS®
Department of Real Estate
Combating Mortgage Fraud
Issues real estate broker and salesperson licenses
Approves subdivision public reports
Investigates consumer complaints
Takes administrative action against a licensee
Issues D&Rs to non-licensees
Department of Real Estate Providing Service, Protecting
You
Has the authority to revoke or suspend a license for violations of the Real Estate Law
Does not have authority to prosecute criminal or civil matters - referred to the Attorney General’s Office for prosecution.
Department of Real Estate Providing Service, Protecting You
Foreclosure Rescue Fraud
Scams misleading homeowners to transfer of the grant deed and/or up-front fees
Scammer profits by remortgaging the property or pocketing fees paid by the homeowner
No help to the homeowner
in trouble
Loan Modification Fraud
Guarantee success due to expertise, affiliations or knowledge of government programs.
Advertise through the radio, television, printed promotion and internet marketing to attract desperate homeowners – many of whom may have been turned down elsewhere and cannot qualify
Perform no services – obtain no results
Jan-
07
Feb-
07
Mar-0
7
Apr-0
7
May-0
7
Jun-
07
Jul-0
7
Aug-0
7
Sep-
07
Oct-0
7
Nov-0
7
Dec-0
7
Jan-
08
Feb-
08
Mar-0
8
Apr-0
8
May-0
8
Jun-
08
Jul-0
8
Aug-0
8
Sep-
08
Oct-0
8
Nov-0
8
Dec-0
8
Jan-
09
Feb-
09
Mar-0
9
Apr-0
9
May-0
9
Jun-
09
Jul-0
90
5000
10000
15000
20000
25000
30000
3190 33724448
5270 5270
6896 6896
8796
8107
104538940
12089
15486
1597515336
18645
20397
23685
26627
28115
24758
15017
14101
16709
15362
16653
1162411598
13201
21514
18208
California Foreclosure Rate
2007 – 84,1202008 – 237,107 YTD – 108,160
Jan-
07
Feb-
07
Mar-0
7
Apr-0
7
May-0
7
Jun-
07
Jul-0
7
Aug-0
7
Sep-
07
Oct-0
7
Nov-0
7
Dec-0
7
Jan-
08
Feb-
08
Mar-0
8
Apr-0
8
May-0
8
Jun-
08
Jul-0
8
Aug-0
8
Sep-
08
Oct-0
8
Nov-0
8
Dec-0
8
Jan-
09
Feb-
09
Mar-0
9
Apr-0
9
May-0
9
Jun-
09
Jul-0
90
10000
20000
30000
40000
50000
60000
13642
14327
15652
15225
1663618734
20693
25210
25210
25034
22132
29664
3524934514
37078
38904
37864 3785336715
37796
1396914332
18850
39267
36527
44640
52720
42814
37918
42143
42169
Notices of Default
2007 = 239,1792008 = 383,014
2009 YTD = 299,163
Loan Modification Complaints
Fiscal Year 08-09
Loan Modification Complaints
By DRE Office/Region
Fiscal Year 08-09
Loan Modification DRE Actions Filed
Remedies Underway
Consumer Awarenessand Education
Oversee Licensed ActivitiesCooperative Enforcement EffortsCriminal and Civil ProsecutionIndustry and Business Support
Department of Real Estate Providing Service, Protecting You
Department of Real Estate Providing Service, Protecting You
“Log on,
Look ‘em up and
Check ‘em out!”
