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West San Gabriel Valley Association of Realtors is Moving Forward

By Lee Lieberg

November 15, 2007

The West San Gabriel Valley Association of Realtors is moving from their location of over 55 years to their new headquarters at 1039 E. Valley Blvd. Suite 205-B, in San Gabriel. The move is expected to be complete by December 1st when the new offices will be up and running.

November 8th was the final Caravan Meeting in the old auditorium that had hosted decades of meetings, community events and of course some fun REALTORr Socials. Brought back for the last meeting were Past Presidents, REALTORr and Affiliate of the Year recipients to join current members at one last breakfast meeting. Past President Tom Berge said, “Our members and future REALTORSr will benefit by the wise decisions made today by leadership”.

Fifty-five years ago, the corner of Valley Blvd. and Palm St. in San Gabriel was a state of the art facility for the then Alhambra Board of Realtors. Several years ago the Directors of the Association were faced with the decision of making a substantial investment into the building or moving. The headquarters, the auditorium and parking were no longer the best use for the corner lot on prime Valley Blvd. The investment it would require didn’t pencil out, so the property was subsequently sold.

A building committee headed by Bob Bodkin, Arthur Shu and Carl Feldstein took on the laborious task of searching for a new sight. Current President, Nancy Lin, said they “took on what looked like mission impossible and made it mission possible”. She continued to thank all of the members of the board who had played a part.

Realizing that the purchase had to be an investment as well as functional, the committee made a key decision to purchase two properties using a 1031 exchange. The first property was the business condominium on Valley Blvd. that will serve as the Association Headquarters. A second property was purchased as an investment property that will insure the financial well being of the Association well into the future.

President Elect Arthur Shu stated, “We are moving forward and looking ahead to a great year in 2008 at our new building”.

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*Data was obtained from California MLS Alliance and deemed to be reliable. Lee Lieberg can be contacted at lee.lieberg@dilbeck.com.