Mid-Year Sales Volume in 08 Earns CENTURY 21 Adams & Barnes the PaceSetter Gold Award for Production

Monrovia, CA, July 2008, - CENTURY 21 Adams & Barnes announced today that CENTURY 21 Real Estate LLC recently recognized the office with the PACESETTER GOLD Award for production through the first six months of 2008. The recognition is presented to CENTURY 21 System offices whose sales production is tracking at impressive levels for that given year.

The company's Monrovia office is to present the award certificate at an upcoming Friday Sales and Marketing Meeting.

"The individual efforts and dedication displayed by each member of CENTURY 21 Adams & Barnes in achieving this significant accomplishment are to be commended," said Thomas R. Kunz, President and CEO of CENTURY 21 Real Estate LLC. "Through the PACESETTER award, the CENTURY 21 System is able to recognize outstanding achievement of its franchisees.

The Monrovia office's sales have tracked well despite the recent downturn in the housing market. Focusing its efforts, its sales and marketing staff to hone in on specific market areas, the company has been able to assist buyers and sellers successfully. The office has participated in CENTURY 21's Open House Month drive, broken into the burgeoning REO and shortsale markets, averaged over 10 open houses per weekend and increased its Internet presence through REALTOR.com, CENTURY21.com and the newly re-imagined company site at www.c21ab.net

CENTURY 21 Adams & Barnes is a full-service brokerage located at 433 West Foothill Boulevard and specializing in Residential, Commercial, Property Management, Mortgage and Escrow services.

To learn more about CENTURY 21 Adams & Barnes visit us on-line on the world wide web at www.c21ab.net or call us at 626.358.1858 / Monrovia or 626.963.7621 / Glendora

President Signs Housing and Economic Recovery Act of 2008 Into Law

LOS ANGELES (July 30) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds President Bush’s decision to sign H.R. 3221 into law. For the past several years, C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® have aggressively lobbied for Congress to pass numerous provisions found in this historic bill.

The legislation, called the Housing and Economic Recovery Act of 2008, will assist an estimated 400,000 homeowners facing foreclosure, many of whom reside in California, by allowing them to refinance their current mortgages with a Federal Housing Administration (FHA)-backed loan. The bill also will permanently increase FHA, Fannie Mae, and Freddie Mac loan limits in high-cost areas.

“This federal housing bill is a significant move in the right direction for California homeowners,” said C.A.R. President William E. Brown. “It will aid in stabilizing our economy and help stem foreclosures, while also providing support to first-time homeowners.”The bill permanently increases the conforming loan limit to $625,500. C.A.R. has long advocated for higher conforming loan limits. In February, the Economic Stimulus Act of 2008 was signed, temporarily raising the conforming loan limit in high-cost areas to $729,750 from $417,000 until December 31, 2008.

“Although we would have liked Congress to make permanent the current $729,750 loan limit, C.A.R. is pleased with the new permanent loan limit of $625,500. It will allow California homeowners to refinance their loans into safe affordable loan products and allow first-time home buyers to enter the market,” said Brown.

The new loan limits for Fannie Mae and Freddie Mac are the greater of either $417,000 or 115 percent of an area’s median home price, up to $625,500. The new FHA loan limit will be the greater of $271,050 or 115 percent of an area’s median home price, up to $625,500. Both new loan limits will be effective at the expiration of the economic stimulus limits on December 31, 2008.

C.A.R. also supports the following bill provisions:

• A temporary increase in mortgage revenue bonds to refinance subprime mortgages.
• New regulator for Government Sponsored Enterprises to restore investor confidence in GSE loans and help the market and economy stabilize.
• First-time home buyer tax credit, which allows first-time home buyers to receive a tax refund worth up to 10 percent of a home’s purchase price, up to a maximum of $7,500. The refund serves as an interest-free loan and the homeowner is required to repay it in equal installments over 15 years.
• Temporary raise in the loan limit for the Veterans Affairs home loan guarantee program to the same level as the economic stimulus limits until the end of 2008.
• Adjustment to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), allowing sellers to provide the non-foreign affidavit to a qualified closing entity and not just the buyer.
• The setting of minimum requirements for mortgage originators, which mandates fingerprinting of loan originators and establishes a nationwide loan originator licensing and registration system. The requirements do not apply to those only performing real estate brokerage activities unless they are compensated by a lender, mortgage broker, or other loan originator. States will have the ability to implement more stringent laws.
• The creation of a National Affordable Housing Trust Fund to help cover the cost of the FHA rescue plan for the first five years and develop affordable housing in subsequent years.

Other provisions in the legislation include:

• The Treasury Department’s proposal to create a federal backstop program to ensure the financial well-being of Fannie Mae and Freddie Mac.
• The FHA’s inability to insure loans that utilize a seller-funded down-payment assistance program. Down-payment assistance from family, employers and other nonprofits is still allowed.
• The Community Development Block Grant Programs’ $4 billion allotment for communities to purchase and refurbish foreclosed homes.

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (car.org) is one of the largest state trade organizations in the United States, with nearly 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

CENTURY 21 Adams & Barnes Sales Associates are members of the National Association of REALTORS, the California Association of REALTORS and the Arcadia Association of REALTORS. To speak to a CENTURY 21 Adams & Barnes sale professional, contact us today at 626.358.1858 / Monrovia or 626.963.7621 / Glendora or visit us on-line at http://www.c21ab.net/

REALTOR Spotlight - Karen Taylor-Straley

With over 18 years experience in real estate sales in the foothill cities of the San Gabriel Valley, as well as intimate local area knowledge, Karen Taylor-Straley works diligently to help buyers and sellers meet their real estate goals.

As a listing agent, her extensive marketing plan gives a homeowner the opportunity to achieve the maximum value for their property.

For buyers, Karen searches and re-searches until the the perfect property becomes available and then she helps negotiate the best possible terms.

Believing that civic affairs are an important part of our community, Karen has served as the President of the Monrovia Chamber of Commerce and Past-President of Monrovia's Kiwanis Club.

Therefore, if you are looking to buy or sell a home or would just like some more information about the local real estate market, feel free to call Karen Taylor-Straley at 626.358.1858.

Karen's latest listing at 329 West Highland Highland Avenue in Sierra Madre, CA. For more info call 626.358.1858.

REALTOR Spotlight - Cecilia Farnum

Few REALTORS have amassed a more colorful and well-rounded Real Estate career than Cecilia Farnum. Born into the industry, Cecilia's family helped shape the neighborhoods of the San Gabriel Valley. She has lived in Monrovia since 1986 where she has been an active resident through the city's re-invention period.

Her Real Estate career, which is now 25 years strong, has given Cecilia a soothing coolness to her approach. She guides customers and clients with sensible advice that consistently lead to overwhelmingly positive results.

As one of CENTURY 21 Adams & Barnes' most experienced agents, Farnum is a sought after guide. Her knowledge of the local market is inspiring and she's developed it during her daily 'power-walks' in the neighborhoods she services.

Her consistency has made Cecilia one of the most decorated REALTORS at CENTURY 21 Adams & Barnes. Acknowledged for her production and customer service at the national and local level, she is accustumed to being in the 'winners-circle'.

Her true passion though, rests with her clientele who never hesitate to point out her thoughtfulness and collected wisdom during the sale or purchase of their home.
To learn more about Cecilia Farnum contact CENTURY 21 Adams & Barnes at 626.358.1858 or visit us on-line at C21AB.com

REALTOR Spotlight - Jacen Crehan

Today, most Real Estate experts are not as approachable as Jacen Crehan. Basing his practice on building trust and personal accountability, he has built life-long relationships with his clients who seek him out for advice and guidance.

Jacen has three major passions in business life: real estate, client care and marketing.

A born entrepreneur, Jacen has succeeded in several business ventures. His experience has lead him to market and sell product to mass retailers, lead and MC corporate functions, and create programs that grew a very small venture into a healthy and thriving business. With a background in Marketing and Brand management, Jacen brings a unique palette of experience to the Real Estate industry. He thrives on taking marketing properties to the next level and it shows through websites such as AskJacen.com

In fact according to Jacen, 'It is essential to recognize and adapt to the nuances of today's marketing strategies, especially when you are selling or buying your home. I am equipped with a robust set of tools that marry older techniques with the most modern technologies. I am ready to overcome the challenges and help my clients achieve their goals.'

Sellers and buyers have many options available, but when it comes to Real Estate in Monrovia, Arcadia, Duarte and the rest of the San Gabriel Valley, Jacen is the obvious choice for representation.

Today, Jacen brings passion, energy and dedication to the Real Estate industry. To learn more about him, contact our office at 626.358.1858.