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92 STATE OF AFFAIRS: WEST » e alleged scheme was uncovered when homeowner Nancy Zelepsky sought an equity loan in 2010 on the home she owed in Santa Barbara County. Zelepsky contacted a title company in order to determine if there were any liens against her property and was notified that Sandra Barton had been listed as the deed holder in July of that year through documents filed by Mortensen. Zelepsky turned to the Legal Aid Foundation of Santa Barbara County for assistance. In court, it was determined that Sandra Barton's claim on the property was fraudulent, and the judge restored ownership to Zelepsky. e court then notified the California State Bar regarding Mortensen, and the California Attorney General's office opened an investigation in June 2011. Sandra Barton faces a maximum state prison sentence of approximately 103 years, Mortensen faces 108 years, Feigel faces 15 years, Christopher Barton could get 7 years, and Vedenoff could be sentenced to 8 years behind bars. DataQuick Enhances Valuation Model to Boost Accuracy DataQuick, a San Diego-based real estate information company, announced the addition of major enhancements to its automated property valuation model (AVM), CMV-Portfolio. e upgrade builds on CMV-Portfolio's "submodel" system, which features differ- ent models using their own methodolo- gies and data sources to estimate property values. Enhanced submodels in the AVM include: • e Appraisal Emulation model, which uses a comparable sales approach to esti- mate market values based on the values of similar properties in an area. • e Inflated Sale Price Model, which estimates market value by multiplying a property's most recent sale price by how much the company's Neighborhood Hous- ing Price Index has changed since then. • e Tax Assessed Value Model, which estimates the ratio of a property's assessed value to the sales price of sample properties in the area. • e Hedonic Model, which uses a set of property characteristics to construct a local property value regression model based on recent sales nearby. With the enhancements, DataQuick hopes to improve valuation accuracy and in- crease the likelihood that an automated valu- ation will fall within 10 percent of a property's actual sales price. "Our analytics team has boosted the accuracy in each of these models in order to provide the most precise property valua- tions possible," said company president John Walsh. "What sets CMV-Portfolio apart is its stable estimate based on multiple data methodologies and an interpretable confi- dence score, which can be easily embedded into risk models." Colorado RANK: 50 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate NOVEMBER 2013 1.44% 0.64% 6.5% YEAR AGO 1.75% 1.13% 7.6% YEAR-OVER-YEAR CHANGE -17.9% -43.0% -1.1% Top County LAS ANIMAS COUNTY 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 2.13% 2.31% YEAR AGO 2.65% 3.16% YEAR-OVER-YEAR CHANGE -19.9% -26.7% Top Core-Based Statistical Area MONTROSE, CO 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 1.44% 1.58% YEAR AGO 1.70% 2.12% YEAR-OVER-YEAR CHANGE -15.6% -25.3% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the November 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS RE/MAX Leadership Honored as Real Estate "Most Influential" e co-founder/chairman and the CEO of RE/MAX were named among the most influential real estate industry executives of 2013 on two prestigious lists. Dave Liniger, who founded the Denver- based real estate franchisor with his wife, Gail, in 1973, and Margaret Kelly, who became the company's president and CEO in 2005, were named to the Inman 100 Most Influential Real Estate Leaders and the Swanepoel Power 200. Both lists recognize leaders who influence and advance the real estate industry with their ideas, entrepreneurship, originality, and principles. e unranked Inman 100 honors those "who have made extraordinary contributions that change the way homes are bought and sold." Inman recognized Liniger for building a small, husband-and wife operation into a 9,000-employee powerhouse that operates 6,300 offices in more than 90 countries. It recognized Kelly for helping to guide RE/ MAX to a successful $225 million initial public offering in 2013 and for growing its overseas footprint in Japan and South Korea. Under Kelly's direction, RE/MAX main- tained its place as the world's top real estate franchise brand by global sales volume. e Swanepoel Power 200 ranked Liniger at No. 5 and Kelly at No. 11, making Kelly the top woman on the list. Publisher Stefan Swanepoel said that Liniger revolutionized the real estate industry when he and his wife founded a 100-percent commission-based brokerage. Swanepoel also named Liniger "e Most Interesting Man in Real Estate." Liniger is a veteran of the U.S. Air Force; a multi-engine, instrument-rated, commer- cial pilot; a one-time NASCAR driver and owner; co-founder of the Denver-area Wild- life Experience conservation center; co-owner of the Sanctuary Golf Course near Sedalia, Colorado; and competed against Richard Branson in an around-the-world stratospheric helium balloon expedition, Swanepoel recited as his "interesting" feats. Swanepoel recognized Kelly for her contributions to taking RE/MAX public for its 40th birthday and for her ubiqui- tous—and typically candid—discussions of Colorado Marina Dubrova, CRS, CDPE, CIPS Broker/ Owner 333 S Allison Pkwy, #201 Lakewood, CO 80226 720-583-6010 offi ce | 720-583-2672 fax 720-936-0540 direct | 866-870-0933 e-fax www.coloradohomeswesell.com