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Department of Real Estate

Department of Real Estate. 2009 Bay Area Multi-Cultural Real Estate Summit. Ethnicity of Buyers. SOURCE: California Association of REALTORS®. Ethnicity of Buyers. SOURCE: California Association of REALTORS®. Age of Buyers. SOURCE: California Association of REALTORS®. Median Age of Buyers.

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Department of Real Estate

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  1. Department of Real Estate 2009 Bay Area Multi-Cultural Real Estate Summit

  2. Ethnicity of Buyers SOURCE: California Association of REALTORS®

  3. Ethnicity of Buyers SOURCE: California Association of REALTORS®

  4. Age of Buyers SOURCE: California Association of REALTORS®

  5. Median Age of Buyers SOURCE: California Association of REALTORS®

  6. Ethnicity of Sellers SOURCE: California Association of REALTORS®

  7. Age of Sellers Sellers Median Age: 37 SOURCE: California Association of REALTORS®

  8. Median Age of Sellers SOURCE: California Association of REALTORS®

  9. Member Profile SurveyEthnicity of Members SOURCE: California Association of REALTORS®

  10. Department of Real Estate Combating Mortgage Fraud

  11. Department of Real EstateProviding Service, Protecting You • 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

  12. Department of Real EstateProviding 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.

  13. 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

  14. 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

  15. 2007 = 239,179 2008 = 383,014 2009 YTD = 299,163

  16. Loan Modification Complaints Fiscal Year 08-09

  17. Loan Modification Complaints By DRE Office/Region Fiscal Year 08-09

  18. Loan Modification DRE Actions Filed

  19. Remedies Underway • Consumer Awareness • and Education • Oversee Licensed Activities • Cooperative Enforcement Efforts • Criminal and Civil Prosecution • Industry and Business Support

  20. Department of Real EstateProviding Service, Protecting You

  21. Department of Real EstateProviding Service, Protecting You “Log on, Look ‘em up and Check ‘em out!”

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