Asian Real Estate Association of America (AREAA) celebrated a successful 2014 at the Annual Installation Gala on March 19th, 2015 at the Capitale in Washington D.C. John Lin, the outgoing DC-Chapter President of 2014 welcomed the guests and members to the Annual Gala. After an opening address by Vicky Silvano, Vice-Chair of AREAA National Chapter, guests and members enjoyed dinner to the live performances of Eugene Chapman (saxophone) and Archie Castro (singer).
Christine Todd, CEO of Northern Virginia Realtors Association (NVAR) updated the members on the upcoming market condition of real estate in the greater Northern Virginia, Washington DC, and Maryland.
At the Gala, Mr. Lin passed the Chapter Presidency to Ms. Cynthia McGee for the 2015 Fiscal Year, and she gladly accepted the position. 2015 sees new officers for all positions at the Metro-DC Chapter of AREAA. Ms. Silvano swore in the new officers and Board of Records members for 2015.
During her acceptance speech, Ms. McGee emphasized the importance of the Asian market in the local area. Asian-Americans have one of the highest percentages of college graduation at 48%. Asian-Americans spend about 23% of their disposable income on real estate, and it is one of the biggest spending areas for Asian-Americans in the DMV area. Due to their large spending power, Asian-Americans are incredibly valuable to the recovering economy, as well as for the revival of the real estate market in DMV area. She noted the advantages and importance of AREAA membership as a networking source for realtors and financial institutions, and for obtaining information and events regarding real estate conditions in DMV area. Ms. McGee stated, “2015 will be full of beneficial events, such as Builder’s Summit, Lender’s Panel, and events that may assist those customers who may be interested in the international market.” She further stated, “We are a growing organization. We doubled in membership in the past two years, and we will be doing many fun events to create synergy among the members.”
The members congratulated Mr. John Lin for his fantastic and successful work as the President of the Chapter for 2014. He accepted his award, but stated he could not have done all his work but for help of those around him, including Ms. Anne Thai (Vice Chair), Ms. Song Hutchins, and many more who worked tirelessly to organize networking events, educational seminars, and maintain the organization in the past year.
After the award ceremony, members relaxed and enjoyed the end of the evening with networking and dancing.
Wells Fargo Bank was one of the major sponsors of the 2015 AREAA Annual Installation Gala. Other important sponsors include: NVAR, BB&T Bank, Liberty Mutual Insurance, Westgate Realty, MHREIA, Strategic National Title Group, and Tetra Global Real Estates, LLC.
AREAA is an open organization, and does not limit membership based on race, sex, or profession. AREAA annual memberships are $99, but with automatic renewal, those interested may purchase a membership for $89. Any realtor, financier, or individual interested in learning more about real estate should visit www.areaa.org/dcmetro for more information.
