Requested Delivery By: February 5, 2016
FEBRUARY 2016 T H E O F F I C I A L P U B L I C AT I O N O F T H E G R E AT E R TA M PA A S S O C I AT I O N O F R E A LT O R S ®
PRESORTED STANDARD US POSTAGE PAID TAMPA, FL Permit No. 2397
Our 2016 Greater American REALTOR® Delegation (in no order): Diane Acken, Dao Alderman, Alma Alexander, Tony Canizares, Ashley Christie, Mari Colgan, Cheryl Cusack, Jeff Daniels, Jo Easton, Diana Englehart, Dan Hazy, Nico Hohman, Barbara Jordan, Lea Lagueux, Ellie Lambert, Sharon Lucas, Brad Monroe, Teresa Morning, Joe Perez, Lisa Reeves, Jack Rodriguez, Andy Scaglione, Ron Simpson, Janet Swilley, Laure Taylor, and Nancy Wingate.
FEBRUARY 2016
My REALTOR® Day Experience in Tallahassee
House of Representatives. The Senate Floor. Congressional districts. REALTOR® Block Party. Estoppel fees. Subcommittee meetings. Sweeping the trusts funds. YPN after party. Water regulation. Taxes on business rents. Those were just some of the phrases I heard during the past two days while visiting the Florida Capitol
the knowledge that our Represnetatives and Senators are more than willing and even excited - to talk to us and hear what is important to us. It is amazing what happens when you can place a familiar face to an issue that will effect everyone living, working, and visiting
our great state of Florida. One of the best examples comes from Representative Janet Cruz of Tampa. "The members of GTAR were the first to support me," said Cruz. "And now I am 100% in support of your issues." Getting to mix and REALTOR® DAY, Page 5
FL House Representatives Ed Narain met with our delegation to discuss our talking points.
LIVE AUCTION & CHILI COOK-OFF
BY FLORIDA REALTORS The Florida House overwhelmingly approved a statewide water-policy bill strongly backed by Florida REALTORS® heading into the 2016 legislative session. A day earlier, the Florida Senate unanimously supported the bill. The bill (SB 552) was sent to Gov. Rick Scott for his signature, which is expect-
CODE OF ETHICS
ed, and he has until Jan. 21, 2016, to sign it. Lawmakers have worked to advance the bill for more than two years. "Passage of SB 552 provides a strong foundation for a comprehensive statewide policy that addresses key aspects of water management, water quality and water supply," says Carrie O'Rourke, pg.6
Florida REALTORS® vice president of public policy. "Florida's REALTORS® are passionate about the state's water resources," O'Rourke adds. "No matter where you live in Florida, there's a body of water that is a part of your community. We thank members of the House and Senate
• EDUCATION
4TH ANNUAL
TORS AL RE
Early passage of key bills shows cooperation between House and Senate
C ASSO IATION PA O M A
F
Florida Legislature passes comprehensive water bill
T
BY NICO HOHMAN GTAR's Young Profesionals Network Co-Chair
during the Great American REALTOR® Days. As a sophomore member of the Government Affairs Committee, I was fortunate enough to receive a full scholarship through GTAR to attend and participate in the meetings and events. The jam-packed schedule was full of exciting visits to our local Representatives and Senators explaining some of the most important issues to us as REALTOR®, homeowners, and business owners. While in Tallahassee, we even saw the passage of one our supported bills pass on the Senate floor. Some of the best takeaways from the trip include
GREAT ER
GTAR visits the state capitol to disuss issues affecting members
WATER BILL, Page 18
pg.11
APRIL 4, 2016 Join us for our 4th Annual RPAC Extravaganza, which features a live silent auction and chili cook-off. All proceeds will benefit our REALTORS® Political Action Committee, which advocates for the interests of our members.
IN THIS EDITION
A Little Change can be Great!
Several recent improvements have been made to the services GTAR provides, in order to better serve its members and affiliate business partners. Page 3
Tampa attracts int'l buyers
In 2015, international real estate purchases increased between 14 to 20 percent in Hillsborough County. Page 8
Questions? We have answers
Who pays for the new roof on your condo? The association or the tenant? Page 9
Think before you send that safety alert
NAR provides a list of tips to minimize your exposure while keeping your members and agents safe and profitable. Page 15
Candid Camera
Dec. 2015/Jan. 2016. Page 16
For more information, see Page 18.
• AFFILIATES
pg.12
• MLS STATISTICS
pg.14
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February 2016
Greater Tampa REALTOR® News
ABOUT GTAR
The Greater Tampa Association of REALTORS®, Inc. (GTAR) is the largest Tampa Bay-based professional association of real estate brokers and sales associates conducting business throughout the Bay. GTAR provides educational programs, ethical guidance and other services that enable licensed real estate professionals to help people buy and sell homes in the Greater Tampa area. For more information, please visit www.gtar.org
2016 OFFICERS
President Andy Joe Scaglione.....(813) 968-4996 President-Elect Joe Perez..........................(813) 264-7754 Vice President Mari Colgan..................... (813) 685-4936 Treasurer Sandra Streit...................(813) 343-8001 Secretary Norma Cohen................. (813) 992-5845 Immediate Past President Barbara Jordan...............(813) 962-0631 Interim Chief Executive Officer Brenda Rabbitt............... (813) 879-7010
2016 DIRECTORS
Diane Acken................... (813) 299-4758 Alma Alexander................(813) 727-1201 Ashley Christie................(813) 504-8812 Diana Englehart...............(813) 748-2165 Zoe Green...................... (813) 259-0000 Dan Hazy.......................... (813) 545-7372 Mary McCall....................(813) 294-4425 Jodi McKeithan.............. (813) 597-9670 Brad Monroe...................(813) 309-4488 Jack Rodriguez...............(813) 877-6388 Tom Scaglione............... (813) 310-8200 Francine Villa..................(813) 598-0844
REPRODUCTION
The Greater Tampa REALTOR® News is published monthly for members of GTAR in the interest of informing, promoting, and improving the real estate industry. With the exception of articles and materials from other publications reprinted in this newspaper, members and affiliate members of GTAR are hereby authorized to reproduce articles appearing in this newspaper, provided each such reproduction gives the following credit:
Reprinted from Greater Tampa REALTOR® News, Greater Tampa Association of REALTORS®.
THE REALTOR® MARK
REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.
ADVERTISING INFORMATION
For advertising information/sales, contact Mike Utaegbulam, Director of Communications at news@GTAR.net Advertising products or services herein shall not be construed to be a promotion, approval, or endorsement of those products or services by GTAR. All advertising is subject to the approval of the GTAR Board of Directors/Chief Executive Officer.
DISCLAIMER
Articles contained in this publication express the opinion of the author and not necessarily the opinion of GTAR.
CORRECTIONS
Oops! Every now and then, a mistake slips through the cracks. We would like to acknowledge the following errors: • J ack Rodriguez's company is Minaret Realty • F rancine Villa's company is American Bancshares Mortgage • Three 2015 CAP Graduates were not acknowledged: Justin Braden, Gustavo A. Paulino, and Nancy L. Schild Please send all corrections to the editor at news@GTAR.net. Corrections must be submitted within 30 days of the printed issue date.
www.GTAR.org
MONEY SENSE Preparing for an audit and covering all your bases will make the process of preparing and filing your tax return a lot less stressful BY FLORIDA REALTORS®, WITH SANDY BOTKIN, CPA ESQ. "Let's face it, it isn't fun preparing for our tax return," says Sandy Botkin CPA Esq. Botkin author of Lower Your Taxes: Big Time and Achieve Financial Freedom: Big Time. "As a result of all of the 'tax reform' and 'tax simplification' laws, filing a return today is more complicated and stressful than ever. Maybe this is why the word 'tax' is in the word 'taxing.'" The error rate on filed returns is very high, Botkin says. "In my experience, most people would not withstand a close scrutiny of their return. Luckily, there are some tips that I can give you that will make your return more bulletproof than ever before, which should make your life a lot less stressful."
BOTKIN'S FIVE TAX TIPS FOR THE SELF-EMPLOYED 1. Assume you will be audited
Although the IRS greatly reduced audits as a result of budget cuts, self-employed people have a higher chance of being audited than employees. If you assume that you will be audited each year when you both prepare and file your tax return, you will be prepared if the IRS comes knocking at your door. Have receipts for everything noted on the tax return. Also, make sure you reported all income – especially income reported to you and the IRS on 1099s from your broker, bank and corporations. IRS matches the income reported on the 1099s to your return. Leaving out income is a great way to be invited for a chat.
2. File a tax return electronically or use a tracking service
When the IRS doesn't get your tax return, it sends a big red flag for them to inquire what happened. Botkin strongly recommends you either send your return electronically (which is the best way) or use either Federal Express or UPS tracking. "I have seen cases where the courts will waive penalties when the taxpayer can prove that they sent the return to the right address, even if the government didn't receive it."
3. Sign your tax return and have correct forms attached
It's amazing how many people fail to sign their tax return or don't file the correct forms. Botkin says. "These are two of the top red flags for an audit according to the IRS. Failing to report all of your income is a third major flag."
4. Attach a schedule explaining big-ticket items
You're allowed to attach a schedule or statement explaining anything on your tax return. This could greatly reduce your chance of an audit. An example: A couple claimed $25,000 worth of dental expenses as a medical expense deduction. It caused an audit. "What if I told you that this bill was for braces for their three kids and dental implants by a dental surgeon for both spouses? It doesn't sound as bad, does it," Botkin says. "Had this couple attached a statement showing the services that comprised the $25,000 of dental expenses, with an itemization of these expenses, they probably wouldn't have been audited.
5. Get a tax tracker
Many times I get asked what self-employed people and employees who need to account for their expenses can do in order to bulletproof their tax return from the IRS and state. The answer according to the IRS is to have a tax tracker. A tax tracking system can be a written log with paper receipts and documentation, or it can be an application found on smartphones.
If an app, it should have the following: • A mileage log integrated with a GPS system. It would be best if the tracker automatically turns itself on and off when you make a business stop so that you don't forget to turn it on. It should show both the business and personal mileage and the address of each stop, including an explanation for each business trip. Simply noting that a stop was for business or personal isn't enough and is not tax compliant. • An expense log showing mandated tax information required to take the deduction. For example, entertainment should show who was entertained, type of entertainment (business gift, meals, etc.), specific topics discussed, date, location and amount. A good tracker should also have an integrated camera to take pictures of receipts. IRS and most state tax authorities will accept digitized documentation.
www.GTAR.org
Greater Tampa REALTOR® News
February 2016
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INTERIM CEO'S CORNER
Change, Change, Change! GTAR has made several recent improvements to the services we provide, all with our members' and affiliates' needs in mind. I hope that you like the new look of the Greater Tampa REALTOR® News and the weekly eConnections. I have received numerous compliments from members who love the change. At the request of President Andy Joe Scaglione, photos of the entire Board of Directors are now on display in the lobby of the Association. His thought is that this concept will inspire others to step forward to serve as volunteer leaders. In addition, the business card display of our Affiliate Business Partners has been relocated to an area just outside of the auditorium. This move will assist with providing better recognition for our Affiliate Business Partners. Code of Ethics Training Requirement If you haven’t completed the 2 ½ hours of ethics training since January 1, 2013 you are required to do so by December 31, 2016. New members fulfill this requirement by attending Orientation. So, if you attended Orientation after January 1, 2013 then you
have met the requirement for this cycle. There are several ways to complete the training: • C omplete training online at Realtor.org and we will receive notification of your completion. • A ttend a live training held at GTAR monthly. The next two live sessions are scheduled for February 11 and March 8. Check the weekly eConnections for exact times and registration link. • O btain a DVD from the Association to watch at your leisure and submit documentation of completion. • R equest a training at your office (you office must have at least 25 agents). To schedule a training, please contact Dwayne Carte via email, at Dwayne@GTAR.net. Failure to complete this training by December 31, 2016 will result in suspension of your membership until this requirement has been fulfilled. RPAC is Your Best Investment in Real Estate Since 1969, the REALTORS® Political Action Committee (RPAC) has promoted the election of
pro-REALTOR® candidates across the United States. The purpose of RPAC is clear: REALTORS® raise and spend money to elect candidates who understand and support their interests. The money to accomplish this comes from voluntary contributions made by REALTORS®. These are not members’ dues; this is money given freely by REALTORS® in recognition of how important campaign fundraising is to the political process. RPAC doesn’t buy votes. RPAC enables REALTORS® to support candidates that support the issues that are important to their profession and livelihood. I am proud to say that I am a major investor at the Sterling R level. If you have not become an investor in RPAC, mark the 4th Annual RPAC Extravaganza on your calendar. This will be held on April 14 at the Tampa Garden Club. There will be auction items, the chili cook-off, food, drinks and much, much more. Come out not only to have a great time, but to support RPAC! Watch upcoming eConnections newsletters for more details!
BY BRENDA RABBITT GTAR Interim CEO
2016 BOARD OF DIRECTORS DISPLAY
AFFILIATE BUSINESS PARTNER BUSINESS CARD WALL
SUPRA KEYS
Assistance with Supra keys is available with no appointments from 9 a.m. until 3:45 p.m., Monday through Friday. New applicants have the opportunity to get a key after application submittal and before attending Orientation. Assistance is provided on a first come, first serve basis and may require that you wait your turn. We ask for your patience while we serve members ahead of you.
NEW LOCKBOX EXCHANGE
A lockbox exchange is coming soon! We anticipate this will take place the first week of April. Only active GTAR members will be able to exchange current iBox BT boxes for new iBox BT LE boxes. The new iBox BT LE connects with all Supra keys and most popular SmartPhones. Our newest KeyBox communicates via Bluetooth as well as infrared. The KeyBox holds more listing keys and also easily accommodates gate cards. iBox BT features advanced security, attractive design, and long-life batteries that exceed the life of the agreement. Lockboxes are not able to be exchanged outside of our Association.
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February 2016
Greater Tampa REALTOR® News
www.GTAR.org
COMMERCIAL CORNER As the commerical market rebounds to 2006-2007 figures, experts don't believe another bubble is emerging BY FLORIDA REALTORS Billion-dollar portfolio purchases are making headlines, bond yields are still razor thin and REIT property values are still high. With industry conditions like these, the commercial real estate market is beginning to look a lot like 20062007, when it was racing toward a painful correction. As the market headed toward the close of the year, industry experts were already wondering, "Are we seeing another bubble emerge in the real estate market, and if so, what is in the road up ahead?" Investors have been bullish about real estate – and sending prices up – for at least five years. Indicators of a potentially overpriced market began appearing in October, after a string of blockbuster deals hit the market. Signs of overheating are also emanating from the publicly traded REIT sector, where premiums to unlevered asset values (UAV) had been escalating for about three years between 2010 and 2013. Those excess values have tempered somewhat, particularly in the last several months, yet UAV premiums of late have resembled where they were in the latter half of 2007, according to "The Ninth Inning," a recent report from Newport Beach, Calif.-based research firm Green Street Advisors. Whenever those premiums have been rich, the market has seen outsized property appreciation. "Values for institutional quality real estate have doubled in the past six years, and are now 20 percent above the prior peak that the market reached in 2007," says Andy McCulloch, managing director of real estate analytics at Green Street. "This creates a level of fear, but are we in a bubble? Green Street doesn't think so."
Constructing a solid recovery Asset values are close to a peak, yet solid economic drivers continue to promote healthy real estate development activity. Low oil prices have kept a firm rein on costs for construction, logistics and manufacturing, even when balanced out with rising labor costs. New developments on non-residential properties are increasing,
Values for institutional quality real estate have doubled in the past six years, and are now 20 percent above the prior peak that the market reached in 2007 and at a measured and sustainable pace, according to industry data. Total construction spending on commercial real estate is projected to be close to $360 billion in 2015, up 12.3 percent from last year.
Statistics from the American Institute of Architects (AIA) suggest that developers do not have to fear runaway construction expenses. If new construction hits the $390 billion projected for 2016,
the industry would still be down 10 percent from its most recent high in 2008, according to the AIA. That might reassure professionals keeping a close eye on rising labor costs, as part of overall construction expenses. Corporations can expect to recoup some of those costs through consumer participation in the economy, according to Calvin Schnure, senior vice president of research and economic analysis for NAREIT, an organization that represents REITs. "Rising labor costs will also boost consumer spendCOMMERCIAL, Page 5
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www.GTAR.org
REALTOR® Day interested in policy and government, this trip was a fantastic opportunity for me to learn more about the legislative process. For anyone looking to get more involved or to see for themselves how they can have a voice at the state level, I highly encourage them to participate with our government affairs committee.
Diane Acken
Nico Hohman
Dao Alderman
Brad Jenkins
Business Trends & Technology Forum
Marketing Forum Multiple Listing Service Practices Forum Business Trends & Technology Forum Florida NAR Directors Board Leadership Forum Board Of Directors
Alma Alexander
Connie Johnson
Brenda Rabbitt
Barbara Jordan
David Rankin
Industry Data and Analysis Forum Global Networking Forum Board Of Directors
Board Of Directors
Board of Directors
Craig Beggins
Top 50 Brokers Committee
David Brewer
Board Of Directors Executive Committee Broker-Manager Forum Appraisal Subcommittee State and Local Taxation Subcommittee
Susie Brewer
Commercial From Page 4
Appraisal Subcommittee Industry Data and Analysis Forum Public Policy Committee Board of Directors
Linda Calebro-Kuder Board Of Directors
Alma Kee
Business Trends & Technology Forum Investment/Treasury Mgmt Committee
Mari Colgan
REALTOR Party Member Involvement Committee Awards Subcommittee Board Leadership Forum Board Of Directors
Jean Dorazio
Professional Standards Forum Faculty Subcommittee Faculty and Program Development Subcommittee
Jo Easton
Professional Development Committee REALTOR Party Member Involvement Committee Steering Broker-Manager Forum Faculty and Program Development Subcommittee Board Of Directors
Diana Englehart
Insurance Subcommittee Board Of Directors
Carlos Fuentes
Commercial Alliance Committee
Florida Realtor Party Coordinating Committee FPC & Key Contacts Subcommittee PAC Participation Subcommittee
Dan Hazy
Business Trends & Technology Forum Board Of Directors
Joni Herndon
Appraisal Subcommittee
Governmental Affairs Directors Subcommittee Assn Executives Council REALTOR Party Member Involvement Committee Awards Subcommittee
Local Board/Assn. Attorney Council
Kathleen Razzano
Business Trends & Technology Forum Resort and Second Home Specialist Forum Multiple Listing Service Practices Forum
Jack Rodriguez
FPC & Key Contacts Subcommittee Federal Political Coordinators Building Committee Board Of Directors
Board Of Directors
Peter Rundel
Rebecca Lopez
Local Education Directors Subcommittee
Board Leadership Forum
Tom Scaglione
Susanna Madden
Nominating Committee Leadership Academy Committee Public Advocacy Advisory Group Board Of Directors Professional Standards Forum Vice Chairmen
Mary McCall
Vice Chairmen Awards Subcommittee Education Foundation Board of Trustees Communications Committee Board Of Directors
Forms Content Subcommittee Multiple Listing Service Practices Forum Communications Committee Business Trends & Technology Forum Board Of Directors
Andy Joe Scaglione
FPC & Key Contacts Subcommittee Commercial Alliance Committee Florida NAR Directors Local Board Pres. Info Exchange Board Of Directors
Ron Simpson
Dwight McDonald
Local Board Pres. Info Exchange
Faculty and Program Development Subcommittee Board Of Directors
Jodi McKeithan
Sandra Streit
Board Of Directors
Local Board Treas. Info Exchange Board Of Directors
Brad Monroe
Risk Management Committee Legislative and Regulatory Business Issues Subcommittee Board Of Directors FPC & Key Contacts Subcommittee
Janet Swilley
Lynn Mooney
Roxann Tanner
DVP Information Exchange District Vice Executive Committee Board Of Directors
Board Of Directors
Mario Tamayo
Board Of Directors
Local Education Directors Subcommittee
Laure Taylor
Insurance Subcommittee REALTOR Party Town Hall
Dora Morgan
Tina Harris
Joe Perez
Local Education Directors Subcommittee
Ann Thompson
Board Of Directors
Melanie Norris
Business Trends & Technology Forum REALTOR Party Member Involvement Committee
Anand Patel
Strategic Thinking Committee Technology Tools Workgroup Board Of Directors
Debra Williams
Professional Development Committee Broker-Manager Forum Faculty Subcommittee
Nancy Wingate
FPC & Key Contacts Subcommittee
Michelle Herndon
Professional Development Committee Marketing Forum Board Of Directors
GTAR’S REPRESENTATION ON THE 2016 NATIONAL ASSOCIATION OF REALTORS COMMITTEES Dwayne Carte
Barbara Jordan
Carlos Fuentes
Susanna Madden
AEC-RCE Certification Advisory Board
Global Business and Alliances Committee
Tina Harris
Broker Involvement Council Idea Exchange Council for Brokers
Global Business and Alliances Committee
Professional Standards Committee
Mary McCall
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Lauren Rodriguez
Board Of Directors
REALTOR Party Member Involvement Professional Standards Forum Board Leadership Forum Board Of Directors FPC & Key Contacts Subcommittee Legislative and Regulatory Business Issues Subcommittee REALTOR Party Town Hall
Using credit responsibly Moderation appears to be key when it comes to using credit, too. Commercial banks drove new loan originations to $106.3 billion in 2014, helping commercial real estate finance volume reach a total of $399.8 billion last year, up 12 percent over 2013, according to the Mortgage Bankers Association (MBA), an industry trade group. Institutional investors, Fannie Mae and Freddie Mac, REITS, mortgage REITS and investment funds accounted for about $191 billion in production. Those are healthy numbers, but the financing market is lending at a much slower pace than during previous cycles.
Multiple Listing Service Practices Forum Industry Data and Analysis Forum Florida NAR Directors Board Of Directors Insurance Subcommittee REALTOR Party Member Involvement Communications Committee
Ellie Lambert
Norma Cohen
When it comes to borrowing costs, the market had already factored a December interest rate increase into pricing for pending deals, so when industry professionals talk about an increase in the federal funds rate, they are talking about the Fed's anticipated plan to slowly restore rates to previous historic levels. "All of this noise is not about 25 basis points," says Rick Jones, chair of the finance and real estate groups at Dechert LLP, an international law firm. "It's about a return to the mean." If the Federal Reserve continues to increase borrowing costs after December, then the federal funds rate could be at 1.25 percent by next spring, when the lending environment will begin to look more familiar to those who have been in the business for 20 or 30 years, Jones said.
Florida Realtors PAC FPC & Key Contacts Subcommittee Federal Political Coordinators Public Policy Committee Public Advocacy Advisory Group Board Of Directors
Professional Development Committee
Board Of Directors
ing power, which will help make the fundamentals sustainable," Schnure said. "As long as profit margins remain wide, executives will be happy with it."
Faculty and Program Development Subcommittee Business Trends & Technology Forum YPN Advisory Committee
Donald Kuder
Ashley Christie
Overall, the Tampa Bay commercial real estate market is healthy heading into 2016
February 2016
GTAR’S REPRESENTATION ON 2016 FLORIDA REALTORS COMMITTEES
From Page 1
mingle with lawmakers and fellow REALTORS® around the state was another excellent benefit of this trip. This networking brought home the point that I am not alone in caring about the issues. Meeting new and reconnecting with existing REALTORS® was a fantastic nightcap to a wonderful day in session. As someone already
Greater Tampa REALTOR® News
Professional Standards Committee Member Communications Committee
Brad Monroe
Joe Perez
Anand Patel
Andy Joe Scaglione
Multiple Listing Issues and Policies Committee Data Strategies Committee
Federal Technology Policy Advisory Board
MLS Technology and Emerging Issues Advisory Board
Commercial Committee
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February 2016
Greater Tampa REALTOR® News
www.GTAR.org
CODE OF ETHICS
ARTICLE 2
The Code of Ethics is a detailed document that spells out the professional responsibilities that every REALTOR®has voluntarily agreed to abide by. REALTORS® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. REALTORS® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real estate license, or to disclose facts which are confidential under the scope of agency or non-agency relationships as defined by state law. (Amended 1/00)
had been discovered, contrary to REALTOR® A’s statement that the house was in good condition. At the hearing, it was established that REALTOR® A had stated that the house was in good condition; that the tenant had reported the clogged sewer line and defective heater to REALTOR® A on the day after he moved into the house; that REALTOR® A responded immediately by engaging a plumber and a repairman for the heater; that STANDARD OF REALTOR® A had no prior PRACTICE #2-1 knowledge of these defects; REALTORS® shall only that he had acted promptly be obligated to discover and responsibly to correct and disclose adverse factors the defects, and that he had reasonably apparent to made an honest and sincere someone with expertise effort to render satisfactory in those areas required by service. It was the Hearing their real estate licensing Panel’s decision that REALauthority. Article 2 does TOR® A was, therefore, not not impose upon the in violation of Article 2. REALTOR® the obligation of expertise in other STANDARD OF professional or technical PRACTICE #2-4 disciplines. (Amended 1/96) REALTORS® shall not Case Interpretation be parties to the naming of #2-1: Disclosure of a false consideration in of Pertinent Facts any document, unless it be (Revised Case #9-4 May, the naming of an obviously 1988. Transferred to Article 2 nominal consideration. November, 1994.) REALTORS® A, acting Case Interpretation as a management agent, of #2-4: Obligation to offered a vacant house for Ascertain Pertinent Facts rent to a prospective tenant, stating to the prospect that the house was in good condition. Shortly after the tenant entered into a lease and moved into the house, he filed a complaint against REALTOR® A with his Board of REALTORS®, charging misrepresentation, since a clogged sewer line and a defective heater REALTORS® refrain from exaggeration, misrepresentation,or concealment of pertinent facts related to property or transactions
(Revised Case #9-10 May, 1988. Transferred to Article 2 November, 1994.)
Shortly after REALTOR® A, the listing broker, closed the sale of a home to Buyer B, a complaint was received by the Board charging REALTOR® A with an alleged violation of Article 2 in that he had failed to disclose a substantial fact concerning the property. The charge
indicated that the house was not connected to the city sanitary sewage system, but rather had a septic tank. In a statement to the Board’s Grievance Committee, Buyer B stated that the subject was not discussed during his various conversations with REALTOR® A about the house. However, he pointed out that his own independent inquiries had revealed that the street on which the house was located was “sewered” and he naturally assumed the house was connected. He had since determined that every other house on the street for several
blocks in both directions was connected. He stated that REALTOR® A, in not having disclosed this exceptional situation, had failed to disclose a pertinent fact. REALTOR® A’s defense in a hearing before a Hearing Panel of the Professional Standards Committee was: (1) that he did not know this particular house was not connected with the sewer; (2) that in advertising the house, he had not represented it as being connected; (3) that at no time, as Buyer B conceded, had he orally stated that the house was connected; (4) that it was common
knowledge that most, if not all, of the houses in the area were connected to the sewer; and (5) that the seller, in response to REALTOR® A’s questions at the time the listing was entered into, had stated that the house was connected to the sewer. The panel determined that the absence of a sewer connection in an area where other houses were connected was a substantial and pertinent fact in the transaction; but that the fact that the house was not connected to the sewer was not possible to determine in the CODE, Page 13
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www.GTAR.org
Greater Tampa REALTOR® News
February 2016
Clubhouse
Clubhouse
Clubhouse
Clubhouse
Clubhouse
Clubhouse
Clubhouse (It just got a lot bigger ... come see for yourself!)
We’ve doubled the size of our Clubhouse, added a state of the art fitness center with showers, a new social gathering/activities room, a new Jr. Olympic swimming pool and pool deck with custom furniture and shade structures, and so much more! You’ll just have to see for yourself! Join us as we unveil the new WaterGrass Clubhouse.
GRAND OPENING CELEBRATION February 20 Noon to 3 p.m.
|
Food Trucks & Fun
Villas from the upper $100’s Single Family Homes from the mid $200’s to over $1 Million 813-907-0101 | CROWN-WATERGRASS.COM | I-75 to exit 279 (SR 54). East 2.6 miles, Left on Curley Road, WaterGrass is ahead on the right. Arthur Rutenberg Homes (813) 948-2504 | Bakerfield Luxury Homes (813) 600-7514 | Ryland Homes (813) 388-2933 D.R. Horton (813) 388-6831 | Standard Pacific Homes (813) 994-1911 | Vintage Estate Homes (813) 600-7514 Homes within WaterGrass are constructed and sold by builders not affiliated with Crown Community Development. Future development of WaterGrass may or may not occur as shown on illustrations, depictions or maps. Aurther Rutenberg Homes #CCG 1509234, Bakerfield Luxury Homes #CGC 1520881, Ryland Homes CBC 1253657, Standard Pacific Homes CGC 1506304, Vintage Estate Homes CRC 057475
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February 2016
Greater Tampa REALTOR® News
www.GTAR.org
HOUSING TRENDS
Tampa area continues to attract international home buyers The Tampa metro area continues to be a desirable destination for international home buyers. BY YVETTE C. HAMMETT, TAMPA TRIBUNE STAFF REALTORS® cite a variety of reasons for the area's popularity – the growth of direct international flights to Tampa International Airport, higher prices in South Florida sending people further north and stepped up marketing campaigns overseas by real estate companies. Last year, international real estate purchases increased between 14 to 20 percent in Hillsborough County, according to Carlos Fuentes of Namaste Realty. Despite an overall drop in real estate sales to international buyers in Florida last year, the state has long been a desirable market for foreign investors looking to purchase homes. With its desirable climate, the state accounts for 25 percent of all international real estate purchases in the United States. Half of those purchases have historically been in the MiamiFort Lauderdale region. But REALTORS® say that could be changing in the Tampa metro area's favor
with the new direct international flights, better pricing on both lots and existing homes here, a secure environment in which to invest, proximity to beaches, professional sports, a new outlet mall and plans for a more vibrant downtown Tampa with more residential units.
"We have construction up in all sectors of real estate," said Fuentes, past president of the regional Multiple Listing Service. "And the quality of life here versus South Florida is huge." Smith & Associates, this area's leading luxury real estate broker, has been focusing on a marketing strategy for about four years to draw in more international buyers. "We've been developing strategies, thinking about those direct flights and how to put our properties in front of these folks and build a presence," said Bob Glaser, president and CEO of Smith & Associates, which did $1 billion in sales last year. People are a lot more likely to purchase in an area they can fly to directly, he said, and the recent addition of direct flights such as those from Frankfort, Germany could be game changers. International buyers account for 12 percent of all sales in the state, according to the Profile of International Buyers in Florida 2015, published by Florida REALTORS®. The Tampa-St. Petersburg-Clearwater metro area was listed among the major destinations in Florida for international buyers, according to the Florida REALTORS® report. International sales in the Tampa metro area rose 6 percent during a 12-month period ending June 2015, the report shows. That figure was less than the 11 percent in 2014, which followed a similar drop in other metro areas across the state last year. In 2014, the Tampa metro area was tied with Orlando for the highest percentage of foreign buyers in the state. Top international buy-
ers in the Tampa metro area in 2015 came from: Canada (31 percent), United Kingdom (19 percent) and Sweden (12 percent), according to the REALTOR® report. Last year, international sales in Florida totaled 44,000 properties, or 12 percent of the state's residential market, compared to 15 percent in 2014. Nationally, international sales accounted for just 4 percent of sales, according to the report that conducted a REALTOR® survey between July and August. And when foreigners buy here, they buy more expensive real estate than Floridians. Many pay cash. The volume of international sales totaled $23.7 billion, or 24 percent of Florida's residential dollar volume of sales (19 percent a year ago), compared to 8 percent nationally. It's a market worth growing, Glaser said. The REALTORS® report listed the Miami metro area with 36 percent of international buyers in 2015; Fort
Last year, international sales in Florida totaled 44,000 properties, or 12 percent of the state's residential market Lauderdale got 14 percent last year and the Orlando-Deltona-Daytona Beach MSA getting 8 percent. The Northport-Sarasota-Bradenton MSA accounted for 7 percent of sales to foreign buyers in 2015. The number of REALTORS® handling international sales went up from 52 percent in 2014 to 69 percent in 2015, Florida REALTORS® reports. Of those who worked with international clients 78 percent of them reported closing at least one sale with those clients. That is up slightly from the previous year. Smith & Associates now works with Luxury Portfolio International to market its properties worldwide and has a
working agreement with Mayfair International Realty, which acts as its London office, and links with the Financial Times to market properties in Hillsborough and Pinellas counties. Jacqueline Hutchinson, a REALTOR® with Smith & Associates, sold three homes to French investors last year. They found out about homes here through a website called French District, then contacted Hutchinson, a native of France. "Florida is very popular with the French," Hutchinson said. "Before, they always went to Miami, but because of the direct flights, they come here and they like it." They like the Gulf of Mexico and they like the prices, she said. INTERNATIONAL, Page 15
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Q&A
All condo owners must help pay for new roof QUESTION: The board of directors of our condominium association is contemplating taking out a loan to help pay for a new roof. That leads to all sorts of questions. How would this affect us? Would the lender put liens on the units and would they be harder to sell? What recourse would the lender have if we were unable to repay the loan? – Arthur ANSWER: Check your association documents to make sure they even allow the board to take out such a loan. If so, the answers to your questions vary, depending on the lender. Many lenders require that a special assessment be levied and used as collateral for the new loan. With a special assessment, all unit owners would owe a share of the roof loan that could be paid back all at once or over time. That would be in addition to their regular maintenance dues. The special assessment also acts as a lien on the individual units. The board can enforce that in much the same way it does nonpayment of the regular maintenance dues. Each individual unit's value likely would be increased due to the new roof, but a buyer might have to make the special assessment payments if the seller did not already pay off the debt. While this could hinder resales, having a new roof is a big plus to most buyers because they know they won't have to worry about it for another 20 years or so. In the very rare event the association stopped paying, the lender would sue the association and use the lien on the special assessment proceeds to get its money back. The lender would not be able to directly enforce the loan on the individual unit owners. The content in the column was produced by Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar.
The information and materials in this column are provided for general informational purposes only and are not intended to be legal advice. No attorney-client relationship is formed. Nothing in this column is intended to substitute for the advice of an attorney, especially an attorney licensed in your jurisdiction.
Greater Tampa REALTOR® News
February 2016
9
WELCOME NEW MEMBERS Robert Alston JMW Realty Services LLC
Nicole Franklin LLC Charles Rutenberg Realty,Inc.
Bhanu Kurupati Charles Rutenberg Realty,Inc.
Sarah Sclafani PinPoint Realty Group LLC
Angela Arnold BayOne Appraisal Services
Penny Fuller Future Home Realty, Inc.
Nassoma Lewis Realty2000pa.com,Inc
Diane Scribner Future Home Realty, Inc.
Austin Barton Coldwell Banker Residential
Bryn Geary Signature Realty Associates
Josh Lynch Keller Williams Tampa Prop.
Agnes Serrano Keller Williams Realty
Melanie Bell Keller Williams - New Tampa
Adrian Gyden Keller Williams Realty
Teresa MacDonald Re/Max South Shore Realty
Michael Shalosky Keller Williams Realty S.Shore
Brandi Bennett Re/Max Bayside Realty LLC
Daniel Hales WEICHERT REALTORS Yates&Assoc
Lilliana Marquez Rosa Leon Realty LLC
Lonnie Shughart Keller Williams Tampa Prop.
Victor Martinez RedFin Corporation
Ena Sierra Century 21 Shaw Realty Group
Xeniya McBroom Anchor Florida Realty
Nicole Silva Vogel Realty Services, Inc.
Dawn Melanson Re/Max South Shore Realty
Robert Sket The K Company Realty,LLC
Bethany Mis BHHS Florida Properties Group
William Soto Keller Williams Tampa Prop.
William Mitchell Keller Williams - New Tampa
Aaron Southers Keller Williams Realty S.Shore
Dayana Nardi People’s Choice Realty Svc LLC
Tracy Springer Re/Max Bay to Bay
Ahmed Nasser Exit Extreme Realty
Alexis Staten Mihara & Associates Inc.
Katrina Noto Future Home Realty, Inc.
Steven Sudan Kiehn Realty Company
Marissa O Berry Keller Williams-Plant City
Darby Suess Keller Williams South Tampa
Eduardo Ochoa Munoz Ernies Real Estate
Cecilio Thomas Exit Prime Realty
Sonja Parker Century 21 Beggins Enterprises
Patrick Van Hoose Century 21 Shaw Realty Group
Randy Persaud Coldwell Banker Dolphin Realty
Nichole Vanek Vintage Real Estate Services
Darbie Pfeiffer Century 21 Beggins Enterprises
Leryda Vazquez BHHS Florida Properties Group
Samarion Pitts Marshall Century 21 Shaw Realty Group
Kendra Waterman Yellowfin Realty
Shina Porter Keller Williams Realty
Mark Wetzel RE/MAX Capital Realty
Daniel Presley Keller Williams - New Tampa
Candace Wright Vogel Realty Services, Inc.
James Riordan Keller Williams - New Tampa
Mary Jane Zurkan Cooperative R.E. Tampa Bay
Ephraim Rivera Century 21 Shaw Realty Group
NEW BROKERS
Richard Boswell Keller Williams - New Tampa Kristina Bowman Keller Williams Realty Luna Brown Re/Max Bay to Bay Debra Bub Century 21 Shaw Realty Group James Bub Century 21 Shaw Realty Group Dorsel Burgess Keller Williams South Tampa Christine Campbell Century 21 Shaw Realty Group Annafe Coburn Keller Williams Realty S.Shore Gloria Collins Keller Williams Tampa Prop. Stephanie Cooper Keller Williams Tampa Central Antonia Coronel Coldwell Banker Residential Yaneisy Dalmau Rosa Leon Realty LLC Keith Daniels Herbert R. Fisher Realty Will Daoud Keller Williams - New Tampa William Davis Charles Rutenberg Realty,Inc. Naomi Egosi BHHS Florida Properties Group David Elliott Keller Williams Realty Beth Filbrun Benham Signature Realty Associates Jonelle Fisher Keller Williams - New Tampa Mandi Foster Keller Williams Tampa Prop.
Darrell Hamilton Argo Group Properties LLC Kelly Harden Century 21 Shaw Realty Group Martine Hardy LE Real Estate Group Cheryl Heldt Future Home Realty, Inc. Steven Heller Palm Island Realty Nicole Hillman Keller Williams Tampa Central Christopher Hughes Keller WilliamsDecember - New Tampa
New Members
Jason Jeffrey BHHS Florida Properties Group Katherine Jeong Century 21 Shaw Realty Group Mariano Jimenez Florida Realty Christopher Johnson Century 21 Shaw Realty Group Curtis Jones Future Home Realty, Inc. Kenneth Jones Keller Williams Realty S.Shore Kerry Jones Lion’s Group Realty, LLC Janna Kekllas Keller Williams Tampa Prop. Haseeb Khawar Keller Williams Tampa Central Donald King Charles Rutenberg Realty,Inc. Beverly Kingsbury Century 21 Beggins Enterprises Deborah Kitchens BHHS Florida Properties Group Diane Krekorian Century 21 Beggins Enterprises
Ruby Rosener Keller Williams Tampa Prop. Alex Saudi Keller Williams Realty
Benjamin Roddey Serene Realty LLC Eric Stockland Charter Bay Real Estate, LLC
Special thanks to our January 2016 Orientation Sponsors
Cornerstone Air & Plumbing Envoy Mortgage Longo Inspections Services
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February 2016
Greater Tampa REALTOR® News
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CALENDAR
G TAR Board/Committee Meetings E ducational Opportunities M LS Computer Classes
Orientation Licensing/Renewal Class Special Events
FEBRUARY TUESDAY, FEBRUARY 2 5 Hour Post-Licensing Class 4 ALL DAY
WEDNESDAY, FEBRUARY 3 5 Hour Post-Licensing Class 4 ALL DAY
THURSDAY, FEBRUARY 4 5 Hour Post-Licensing Class 4 ALL DAY
FRIDAY, FEBRUARY 5 roperty Managers Task Force P 10:00AM - 11:00AM EALTORS® Political Actions Committee (RPAC) R 10:45AM - 12:15PM overnmental Affairs Committee G 12:30PM - 2:00PM
WEDNESDAY, FEBRUARY 10 ffordable Housing Committee (AHC) A 9:30AM - 11:00AM Affiliates/Business Partner Meeting 10:00AM - 11:30AM air Housing Committee F 11:00AM - 12:30PM Finance Committee 1:30PM - 3:00PM Legal Lounge 9:30AM - 11:00AM
THURSDAY, FEBRUARY 11 Communications Committee 9:30AM - 11:00AM ontract Class C 9:30AM - 12:00PM REALTOR®/Attorney Committee 1:00PM - 2:30PM Code of Ethics 1:00PM - 4:00PM
MONDAY, FEBRUARY 8 5 Hour Post-Licensing Class 4 ALL DAY echnology Committee T 10:00AM - 12:00PM I nternational Council 3:00PM - 4:30PM
TUESDAY, FEBRUARY 9 5 Hour Post-Licensing Class 4 ALL DAY PN Committee Y 10:00AM - 11:30AM echnology User Group T 5:30 - 7:30PM
FRIDAY, FEBRUARY 12 ew Member Orientation N 8:00AM - 1:00PM
MONDAY FEBRUARY 15 oard of Directors B 9:30AM - 1:00PM
TUESDAY, FEBRUARY 16 ontract Class C 9:00AM - 1:00PM
WEDNESDAY, FEBRUARY 17 LS Required Classes M ALL DAY
WEDNESDAY, FEBRUARY 17 ideo Marketing V 10:00AM - 12:00PM
THURSDAY, FEBRUARY 18 1 4 Hours Class (Español) ALL DAY LS Required Classes M ALL DAY rievance Committee G 9:30AM - 1:00PM oot Camp B 9:30AM-4:00PM
FRIDAY, FEBRUARY 19 1 4 Hours Class (Español) ALL DAY rofessional Development Committee (PDC) P 10:00AM - 11:30AM anel on Down Payment Assistance Programs P 9:30AM - 12:00PM
TUESDAY, FEBRUARY 23 istrict 6 Leadership Program D ALL DAY
WEDNESDAY, FEBRUARY 24 iscover Commercial Real Estate D 9:30AM - 12:30PM
THURSDAY, FEBRUARY 25 oot Camp B 9:30AM - 4:00PM
MONDAY, FEBRUARY 29 rofessional Standards Training P 1:00PM - 4:00PM
MARCH WEDNESDAY, MARCH 2 roker Breakfast: Risk Management B 8:30AM - 12:30PM EALTORS® Commercial Alliance Committee R 10:30AM - 12:00PM he Deal Room/Commercial Pitch T 1:00PM - 3:00PM
THURSDAY, MARCH 3 oot Camp B 9:30AM - 4:30PM
FRIDAY, MARCH 4 overnmental Affairs Committee G 9:30AM - 11:30AM roperty Managers Task Force P 10:00AM - 11:00AM EALTORS® Political Actions Committee (RPAC) R 10:45AM - 12:15PM
TUESDAY, MARCH 8 ode of Ethics C 9:30AM - 12:30PM irtual Assistants, Team Building & Delegate V 10:00AM - 12:00PM echnology User Group T 5:30PM - 7:30PM
WEDNESDAY, MARCH 9 ffordable Housing Committee (AHC) A 9:30AM - 11:00AM ffiliates/Business Partner Meeting A 10:00AM - 11:30AM air Housing Committee F 11:00AM - 12:30PM conomic Outlook w/Dr. Ted Jones E 9:30AM - 11:30AM
WEDNESDAY, MARCH 9 inance Committee F 1:30PM - 3:00PM Legal Lounge 9:30AM - 11:00AM
THURSDAY, MARCH 10 Boot Camp 9:30AM - 4:30PM ommunications Committee C 9:30AM - 11:00AM roperty Managers Task Force P 10:00AM - 11:00AM REALTOR®/Attorney Committee 1:00PM - 2:30PM
FRIDAY, MARCH 11 New Member Orientation 8:00AM - 1:00PM
MONDAY, MARCH 14 ppraisal Task Force A 10:00AM - 11:30AM Technology Committee 10:00AM - 12:00PM International Council 3:00PM - 4:30PM
TUESDAY, MARCH 15 City of Tampa Elections ALL DAY
WEDNESDAY, MARCH 16 MLS Required Classes ALL DAY
THURSDAY, MARCH 17 LS Elective Classes M ALL DAY rievance Committee G 9:30AM - 1:00PM ortgage 101 M 9:30AM - 12:30PM
FRIDAY, MARCH 18 rofessional Development Committee (PDC) P 10:00AM - 11:30AM egional Coalition Meeting R 9:00AM - 10:30AM
MONDAY, MARCH 21 oard of Directors Meeting B 9:30AM - 1:00PM
TUESDAY, MARCH 22 ore Law C 9:30AM - 12:30PM eal Estate Investment with an IRA R 1:00PM - 4:00PM
WEDNESDAY, MARCH 23 ech Expo T ALL DAY
THURSDAY, MARCH 24 t Home with Diversity, One America A ALL DAY
WEDNESDAY, MARCH 30 ommercial Training C ALL DAY
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Greater Tampa REALTOR® News
February 2016
11
EDUCATIONAL OPPORTUNITIES INTEGRITY. PROFESSIONALISM. SHAPING OUR FUTURE
code of
COURSE REGISTRATION INCLUDES: • State-approved in-person classroom course facilitated by licensed instructor • Required Text and study materials • 100-question multiple choice exam • Electronic submission of course completion to the State • Personalized diploma upon successful exam completion INSTRUCTOR: Robert Gordon, Bob Hogue School of Real Estate
FEBRUARY 2,3,4,8 & 9, 2016 9:00 a.m. - 6:00 p.m. (All Days) Greater Tampa Association of REALTORS® Auditorium 2918 W. Kennedy Blvd. • Tampa, FL 33609
Early Bird Pricing: $99 Regular Pricing: $119 • Door Pricing: $139 Cancellation policy applies
COMPLETING AN EFFECTIVE PURCHASE AND SALES CONTRACT The Sales Contract is the ultimate destination - the culmination of the REALTORS® expertise with the customer’s binding agreement. In recognition of the full power it carries, this course was designed for real estate professionals to polish up their process of completing a contract from the first word to the last signature. Attendees can expect to learn: • How to use the contract as an influential instrument to aid in closing. and how to minimize incidence of litigation • How to explore the rationale behind why consumers occasionally back out of deals and how to bring them back to the table Instructed by Phil Riek, Lic. Florida RE Instructor. Course is state-approved for 4-hours of CE Credits signing-in/out are required for credit.
TUESDAY, FEBRUARY 16, 2016 Program: 9:00 a.m. - 1:00 p.m.
Greater Tampa Association of REALTORS® Auditorium
2918 W. Kennedy Blvd. • Tampa 33609
Complimentary for GTAR Members Non-Members: $10
BACK TO THEFUTURE IN 2016
ethics If you became a REALTOR® before January 1, 2013, you are required to complete the NAR Code of Ethics course before December 31, 2016
A Panel of Experts Program Whether you're in residential or commercial real estate, you need to know what's new and upcoming in 2016. During this program, a group of top-level dignitaries, economists, urban planners, and seasoned real estate practitioners will bring you the latest updates on trends, opportunities and challenges impacting the Tampa Bay market as we head into 2016.
FRIDAY, FEBRUARY 5, 2016 Program: 9:30 a.m. - Noon
Greater Tampa Association of REALTORS® Auditorium
2918 W. Kennedy Blvd. • Tampa 33609
Complimentary for GTAR Members Non-Members: $10
3 WAYS to Complete the Code of Ethics Training • ONLINE: Visit www.realtor.org/code-of-ethics/training. Send completion certificate to COE@GTAR.net • DVD: For 25 or more members, GTAR will provide the training videos for your office. • IN-PERSON: Attend an in-person training at GTAR. Register online at www.GTAR.org.
Next in-person training:
FEBRUARY 11, 2016 1:00pM - 4:00PM
I have my license...NOW WHAT?
GTAR FOR NEW AGENTS Now that you have your real estate license, learn how to gain and maintain momentum on the road to being a successful agent with this GTAR Certificate program. Instructed by Ann Thompson, AHWD, MRP
FEBRUARY 18 & 25 MARCH 3 & 10 9:30 a.m. - 4:30 p.m. Greater Tampa Association of REALTORS® Auditorium
2918 W. Kennedy Blvd. • Tampa 33609
Special Pricing: $25 (Normally $99) Door Pricing: $50
VIDEO MARKETING FOR REAL ESTATE A-to-Z guide for posting your free video and getting results today. In this first class of a six part mini-series, you will learn the following: • Why you need video marketing • The equipment needed to make your video • Message structure and content • When are the peak times to send your video • Where to host/post video & how to promote • How to permission-market and avoid “real estate vomit” Presented by Brian Heckman of The Heckman Group
WEDNESDAY, FEBRUARY 17, 2016 Program: 10:00 a.m. - 12:00 p.m.
Greater Tampa Association of REALTORS® Auditorium
2918 W. Kennedy Blvd. • Tampa 33609
Complimentary for GTAR Members Non-Members: $10
DISCOVERING Commercial Real Estate TAMPA BAY
DOWN PAYMENT PROGRAMS
A PANEL OF EXPERTS
The home buying process can be very intimidating to both first-time and previous homeowners. In addition, there are several common misconceptions about the down payment necessary in order to purchase a home. Learn more about the options available to help your buyers obtain the “American Dream”. PANELISTS ARE: • Robert Paredes, Chairman of GTAR CARE Foundation • Aidza Antonio, Solita’s House • Walter Walker, Jr., Housing & Education Alliance • Sylvia Borden and Carrie Vitale, Tampa CDC • Hilary L. Bruno, Pasco County
This course offers a broad overview of the basics of commerical real estate and how it differs from residential real estate. Students will be able to understand the broker’s role and discover the different types of commercial properties, terms, valuation methods, marketing and resources for further education. While this course will not equip an agent with the needed tools to practice commercial real estate, it will explain the business and introduce many of the resources needed to pursue a commercial transaction or a career in commercial real estate.
Instructed by: Carlos Fuentes, CCIM
WEDNESDAY, FEBRUARY 24, 2016 Program: 9:30 a.m. - 12:30 p.m.
Greater Tampa Association of REALTORS® Auditorium
2918 W. Kennedy Blvd. • Tampa 33609
2918 W. Kennedy Blvd. • Tampa 33609
Complimentary for GTAR Members Non-Members: $10
Real estate has the potential to be risky business. All REALTORS®, especially brokers and managers, want to manage risk as adequately as possible. This course will speak to and help agents avoid the most common risks associated with the ownership of a Brokerage firm and the practice of real estate sale. Instructed by Phil Riek, Lic. Florida RE Instructor. Course is state-approved for 3-hours of CE Credits signing-in/out are required for credit.
Program: 9:30 a.m. - 12:30 p.m.
Program: 9:30 a.m. - 12:00 p.m.
Greater Tampa Association of REALTORS Auditorium
RISK MANAGEMENT
WEDNESDAY, MARCH 2, 2016
FRIDAY, FEBRUARY 19, 2016 ®
BROKER/MANAGER BREAKFAST PROGRAM:
Attendees will receive 3 hours of Continuing Education credits upon course completion.
Complimentary for GTAR Members Non Members: $10
Greater Tampa Association of REALTORS® Auditorium
2918 W. Kennedy Blvd. • Tampa 33609
Complimentary for GTAR Members Non-Members: $10
REGISTER ONLINE AT www.GTAR.net
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February 2016
Greater Tampa REALTOR® News
www.GTAR.org
AFFILIATES
Affiliates remain committed to help your business succeed in 2016!
Our goal as your 2016 GTAR Affiliate Business Partners is to bring fresh new exciting events and education to our REALTOR® family. We are committed to partnering with you so we can help with your goals for 2016. Keep an eye on the e-Connections emails for upcoming networking events! We Affiliates work hard at GTAR to support the REALTOR® Care Foundation who is working hard to help first time homebuyers, what a great TEAM!
Getting to Know your Affiliate Business Partner A Snoop Inspections is a local owned and operated Home inspection company serving Hernando, Pasco, Polk, Hillsborough and Pinellas Counties. "For a buyer, we make sure that they know and understand every fact about the property that they are purchasing. For sellers, we will provide a report that gives 100% full disclosure, with no worries if a buyer coming back and questioning anything regarding the property. Our services include Residential Home Inspections, Wind Mitigation, Roof Certification, 4 point insurance and many more. Whether you’re buying a new property and want to be sure of what you’re getting or selling a property and want to eliminate possible problems that could delay or lose a sale, or just want a professional to inspect and advise you on the condition and maintenance or safety recommendations of your current home, we are here to help." Jerry (Jay) Smith is licensed as a Florida Home Inspector (License #HI3469) 813-404-5383 jay@asnoop.com. A proud member of the International Association of Certified Home Inspectors (InterNACHI #11012418), American Society of Home Inspectors (ASHI #251614), PRO & GTAR.
Welcome to our Newest Affiliate Business Partners Norm Ikomen Van Dyk Mortgage
John Hammer Brightline Title
Gina Abadir Florida Community Bank
Shawn Waltrip Hughes Exterminators
Kevin Steale Taylor Warner Kitchens
Denise Drews American Bancshares Mortgage
Stephanie Stephens Sapphire Title & Escrow Company
Neal Hartley Marimark Mortgage
BY FRANCINE VILLA Affiliates Co-Chair The Affiliate Business Card Wall has been moved to the front of the GTAR Auditorium for better visibility. Take a look the next time you're at GTAR!
Resort Style Living
At Grand Hampton
Where the casual atmosphere of Old Florida meets with the best that life has to offer in private, club living. Have peace-of-mind knowing that your community has a 24-hour private and gated entry. Enjoy resort style living with a beautiful community pool & tennis courts exclusively for residents to enjoy.
Visit our Model Home 8364 Dunham Station Drive, Tampa, FL 33647
ALSO AVAILABLE TO BUILD ON YOUR LOT LOT!
813.252.1261 l ICIHomes.com See a Sales Associate for details. Intervest Construction of Tampa, LLC 2660 Cypress Ridge Blvd, Suite 104, Wesley Chapel, FL 33544 / CRC #057475
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Greater Tampa REALTOR® News
Andrew Duncan Sterling R Continued
From Page 6
course of a visual inspection and, further, that REALTOR® A had made appropriate inquiries of the seller and was entitled to rely on the representations of the seller The panel concluded that REALTOR® A was not in violation of Article 2.
STANDARD OF PRACTICE #2-5 Connie Johnson Golden R
Barbara Jordan Crystal R
Susanna Madden Sterling R Continued
Katrina Madewell Sterling R
Factors defined as “nonmaterial” by law or regulation or which are expressly referenced in law or regulation as not being subject to disclosure are considered not “pertinent” for purposes of Article 2. (Amended 1/93) Case Interpretation #2-7: Obligation to Determine Pertinent Facts (Revised Case #9-13 May, 1988. Transferred to Article 2 November, 1994.)
Mary McCall Sterling R Continued
Laurie Pizzo Crystal R Continued
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Code
2015 RPAC MAJOR INVESTORS
Ric’ Barmes Sterling R Continued
February 2016
REALTOR® A, a home builder, showed one of his newly constructed houses to Buyer B. In discussion, the buyer observed that some kind of construction
was beginning nearby. He asked REALTOR® A what it was. “I really don’t know,” said REALTOR® A, “but I believe it’s the attractive new shopping center that has been planned for this area.” Following the purchase, Buyer B learned that the new construction was to be a bottling plant and that the adjacent area was zoned industrial. Charging that the proximity of the bottling plant would have caused him to reject purchase of the home, Buyer B filed a complaint with the Board of REALTORS® charging REALTOR® A with unethical conduct for failing to disclose a pertinent fact. The Grievance Committee referred the complaint for a hearing before a Hearing Panel of the Professional Standards Committee. During the hearing, REALTOR® A’s defense was that he had given an honest answer to Buyer B’s question. At the time he had no
positive knowledge about the new construction. He knew that other developers were planning an extensive shopping center in the general area, and had simply ventured a guess. He pointed out, as indicated in Buyer B’s testimony, that he had prefaced his response by saying he didn’t know the answer to this question. The Hearing Panel concluded that Buyer B’s question had related to a pertinent fact; that REALTOR® A’s competence required that REALTOR® A know the answer or, if he didn’t know the answer, he should not have ventured a guess, but should have made a commitment to get the answer. The Hearing Panel also noted that although REALTOR® A had prefaced his response with “I don’t know,” he had nonetheless proceeded to respond and Buyer B was justified in relying on his response. REALTOR® A was found to have violated Article 2.
MY FLORIDA REGIONAL MLS CALENDAR Brad Monroe Sterling R Continued
Brenda Rabbitt Sterling R Continued
Jack Rodriguez Sterling R Continued
Andy Joe Scaglione Sterling R Continued
Vernon Taylor Crystal R
Jeanette Yates Sterling R Continued
Don Walden Sterling R Continued
Darlene Davenport Sterling R
Tina Harris Sterling R Continued
MLS BASIC (3 HOURS) • February 17 • 9AM-12PM This class will teach both new and returning agents the basic functionality in Fusion including search, printing and emailing. You will also learn about additional resources and member benefits provided by My Florida Regional MLS, and more. This is a mandatory class for all new members to be completed within 60 days of joining. COMPLIANCE 101 (1.5 HOURS) • February 17 • 1PM-2:30PM A mandatory class for all new members to be completed within 60 days of joining. Learn about the My Florida Regional MLS Rules and Regulations and the compliance procedure for accuracy of Listing Data, along with additional educational materials available on MFRMLSUniversity.com ADDING & EDITING LISTINGS (1.5 HOURS) • February 17 • 3PM-4:30PM This class is mandatory if you will be adding and modifying listings in the MLS. Learn how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques. Class is available through live webinars at MFRMLSUniversity.com or at any Association. MLS SEARCHES, REPORTS, AND CONTACT MANAGEMENT (3 HOURS) February 18 • 9AM-12PM This class provides a detailed overview of how to conduct various searches in Matrix. Topics include performing quick and detailed searches, utilizing mapbased searches, adding additional fields to search forms, and conducting speed bar searches. In addition, this class will cover the information linked to listing reports through the external products such as Realist, iMapp, Data Coop, Down Payment Resource, the Market Conditions Report, etc. A comprehensive overview on how to set up and manage auto emails will then be given, along with how to use concierge mode, how the customer portal works, and how agents can track customers’ portal activity. This class will give you a great overview of how to search in Matrix and get the most of out of your search results!
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Greater Tampa REALTOR® News
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MLS STATISTICS
DECEMBER 2015
Monthly Market Detail - December 2015 Single Family Homes Hillsborough County
Monthly Market Detail - December 2015 Single Family Homes Hillsborough County December 2014
Percent Change Year-over-Year
1,525
1,518
0.5%
414
459
-9.8%
New Pending Sales
1,123
1,077
4.3%
New Listings
1,356
1,447
-6.3%
Median Sale Price
$211,000
$183,000
15.3%
Average Sale Price
$252,834
$243,348
3.9%
48
51
-5.9%
Average Percent of Original List Price Received
94.7%
93.6%
1.2%
Pending Inventory
1,658
1,833
-9.5%
Inventory (Active Listings)
4,806
5,403
-11.0%
Months Supply of Inventory
3.2
4.1
-22.3%
Closed Sales
Percent Change Year-over-Year
1,525 1,215 1,521 1,502 1,648 1,785 1,8752014 December 1,588 1,645 435 1,578 1,231 225 969 332 1,518
0.5% -1.7% 8.7% 11.1% 14.8% 24.9% Percent Change 27.4% Year-over-Year 14.7% 20.2% 8.7% 25.5% 19.7% -10.7% 6.0% -5.7% 15.8%
Monthly Market Detail - December 2015 The number of sales transactions which closed during Townhouses the month and Condos Hillsborough County
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015December 2015 May 2015 April 2015 473 March 2015 February 2015 201 January 2015 December 2014313
Economists' note : Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. Statistics SummaryWhen comparing Closed Sales across markets of different sizes, we recommend using the year-over-year percent changes rather than Closed Salesthe absolute counts. Realtors® and their clients should also be wary of month-to-month comparisons of Closed Sales because ofPaid potential in Cash seasonal effects. New Pending Sales
Closed Sales
2,100
2011
2014401
New Listings 2013
2012
457 2015
Median Sale Price
$131,000
$110,000
19.1%
1,100
Average Sale Price
$160,007
$139,022
15.1%
36
50
-28.0%
600
Median Days on Market
ListA M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M AAverage M J J Percent A S O ofN Original D J FM 96.0% 3.9% 92.4% Price Received
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Pending Inventory
502
564
-11.0%
Inventory (Active Listings)
987
1,435
-31.2%
Months Supply of Inventory
2.2
3.6
-38.3%
Closed Sales
Month December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 December 2015 May 2015 April 2015 32 March 2015 February 2015 21 January 2015 December 2014 25
Monthly MarketofDetail December 2015 The number sales -transactions which closed during Manufactured the month Homes Hillsborough County Economists' note : Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When Summary Statistics comparing Closed Sales across markets of different sizes, we recommend using the year-over-year percent changes rather than the Closed Sales absolute counts. Realtors® and their clients should also be wary of month-to-month comparisons of Closed Sales because of potential Paid in Cash seasonal effects. New Pending Sales
Closed Sales
600
2011
2012
2013 New Listings
500
201432
Closed Sales
Percent Change Year-over-Year
473 382 425 491 444 500 527 December 2014 442 484 36 484 379 24 298 435 27
8.7% 13.0% -2.3% 25.9% 3.0% 5.3% 20.0% Percent Change Year-over-Year 2.1% 27.4% -11.1% 25.1% 15.2% -12.5% -3.9% 16.6% -7.4%
32 2015
300 200
Median Sale Price
$66,500
$61,000
9.0%
Average Sale Price
$74,948
$63,090
18.8%
33
25
100
32.0%
Median Days on Market
J F M A M J J A S O N D J F M A M J J A S O N D J F M AAverage M J J Percent A S O ofN Original D J FM ListA M J J A S O N D J F M A M J J A S O N D
88.5%
Price Received
88.3%
Pending Inventory
42
47
-10.6%
Inventory (Active Listings)
115
139
-17.3%
Months Supply of Inventory
4.0
6.1
-34.8%
Closed Sales
Month
December 2015 The number of sales transactions which closed during November 2015 October 2015 the month September 2015 August 2015 July 2015 Economists' note : Closed Sales are one of the simplest—yet most June 2015 important—indicators for the residential real estate market. When December 2015 May 2015 comparing Closed Sales across markets of different sizes, we April 2015 recommend using the year-over-year percent changes rather than the 3,306 Closed Sales absolute counts. Realtors® and their clients should also be wary of March 2015 Traditional month-to-month comparisons of Closed Sales because of potential February 2015 $200,000 Median Sale Price seasonal effects. January 2015 December 2014 581 Closed Sales Foreclosure/REO 2011 2012 2013 2014 $114,900 40 Median Sale Price
Closed Sales
Monthly Distressed Market - December 2015 Single Family Homes Tampa-St. Petersburg-Clearwater MSA
30
Closed Sales
Percent Change Year-over-Year
32 22 32 34 24 33 34 December 2014 34 26 2,734 30 27 $189,900 21 36 908
-11.1% 46.7% 52.4% 30.8% -7.7% 73.7% 54.5% Percent Change Year-over-Year 36.0% -3.7% 20.9% 20.0% 42.1% 5.3% 50.0% 111.8% -36.0%
2015 $101,000 239
Median Sale Price
10
$130,000
$130,000
Foreclosure/REO
-49.4% 0.0%
Short Sale
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
100%
Data released on Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
90%
This statistic is simply another way of viewing Cash Sales. The remaining percentages of Closed Sales (i.e. those not
The number of Closed Sales during the month in which paid fully in cash) each month involved some sort of financing, such as buyers exclusively paid in cash mortgages, owner/seller financing, assumed loans, etc.
Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the 2012 market. Why? Investors are 2011 2013 far55% more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other 45% form of financing. There are, of course, many possible exceptions, so 35% this statistic should be interpreted with care.
April 2015 March 2015 February 2015 January 2015 December 2014
25%
400
2011
2012
2013
Percent Change Year-over-Year
27.1% -10.2% 27.1% -18.0% 25.8% -22.5% 26.6% -18.6% 29.8% -5.6% 28.0% -3.3% Percent Change Cash Sales 26.4% -13.1% Year-over-Year 201 -10.7% 27.8% -14.8% 187 7.5% 28.6% -20.9% 194 -17.4% 29.6% -20.9% 238 3.9% 35.5% -10.8% 211 -5.0% 37.7% -10.3% 246 -0.8% 30.2% -17.9% 261 15.0% 2015 3.1% 231 259 16.7% 250 4.6% 214 2.4% 173 -11.3% 225 15.4%
2014
2015
J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
300 REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Produced by Florida Data released on Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
200 100 0
J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
Cash Sales as a Percentage of Closed Sales
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 Month June 2015 May 2015 December 2015 April 2015 November 2015 March 2015 October 2015 February 2015 September 2015 January 2015 August 2015 December 2014 July 2015 June 2015 2014 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014
Economists' Cash Salesnote :
This statistic is simply another way of viewing Cash Sales. The remaining percentages of Closed Sales (i.e. those not
The of Closed Sales during in which paidnumber fully in cash) each month involved somethe sortmonth of financing, such as mortgages, owner/seller financing, assumed loans, etc. buyers exclusively paid in cash
Economists' note : Cash Sales can be a useful indicator of the extent to 2011participating in the 2012 2013are which investors are market. Why? Investors 82% far more likely to have the funds to purchase a home available up front, 72% whereas the typical homebuyer requires a mortgage or some other 62% of financing. There are, of course, many possible exceptions, so form this statistic should be interpreted with care. 52% 42% 32% 30
Percent of Closed Sales Paid in Cash
Month
Monthly Market Detail - December 2015 The percentage of Closed Sales during the month Manufactured Homes which were Cash Sales Hillsborough County
Percent Change Year-over-Year
42.5% -17.8% 49.0% -4.9% 45.6% -15.5% 48.5% -17.4% 47.5% -7.7% 49.2% -5.8% Percent Change 49.5% -4.2% Cash Sales Year-over-Year 52.3% 1.0% 21 -12.5% 53.5% -8.4% 16 45.5% 51.7% -16.4% 22 29.4% 56.5% -11.1% 22 15.8% 58.1% -7.7% 14 -33.3% 51.7% -1.1% 24 118.2% 21 23.5% 2015 17 13.3% 18 -18.2% 20 17.6% 21 40.0% 17 112.5% 24 84.6%
J F M A M J2011 J A S O N D J F M A M J2012 J A S O N D J F M A M J2013 J A S O N D J F M A M J2014 J A S O N D J F M A M J2015 J A S ON D
25
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on20 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
15 10 5 0
J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
Cash Sales as a Percentage of Closed Sales
Month
Monthly Distressed Market - December 2015 The percentage of Closed Sales during the month Townhouses Condos which wereand Cash Sales Tampa-St. Petersburg-Clearwater MSA
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015December 2015 Economists' note : This statistic is simply another way of viewing May 2015 Cash Sales. The remaining percentages of Closed Sales (i.e. those not Closed Sales April 2015 1,196 paid fully in cash) each month involved some sort of financing, such as March 2015 mortgages, owner/seller financing, assumed loans,Traditional etc. February 2015 $134,700 Median Sale Price January 2015 Closed Sales December 2014147
70% 60% 50% 40% 30%
100%
2011
2012
2013 Median Sale Price
90%
Closed Sales
80%
Percent of Closed Sales Paid in Cash
Percent Change Year-over-Year
65.6% 72.7% 68.8% 64.7% 58.3% 72.7% 61.8% December 2014 50.0% 69.2% 992 66.7% 77.8% $130,500 81.0% 66.7% 233
-1.6% -0.8% -15.1% -11.5% -27.8% 25.6% Percent Change -20.1% Year-over-Year -16.7% -15.0% 20.6% -2.0% -1.5% 3.2% 41.7% -12.8% -36.9%
2014 $80,000
$61,999 2015
29.0%
33
42
-21.4%
$80,000
$79,500
0.6%
Short Sale
70%
Median Sale Price
60% 50% 40%
2011
2012
2013
2014
2015
J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
Traditional
Foreclosure/REO
Short Sale
Produced by100% Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
90% 80%
Closed Sales
Closed Sales
80%
20%
70% 60% 50% 40% 30% 20%
10%
10%
0%
0% J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
$250,000
$160K $140K
$200,000
$120K
ce
ce
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 Month June 2015 December May 2015 2015 November April 2015 2015 October2015 2015 March September2015 2015 February August 2015 January 2015 July 2015 2014 December June 2015 2014 May 2015
Cash Salesnote : Economists'
15%
Percent of Closed Sales Paid in Cash
Month
Foreclosure/REO
J F M A M J 2011 J A S O N D J F M A M J 2012 J A S O N D J F M A M J J2013 A S O N D J F M A M J J 2014 A S ON D J FMAM J J A S OND 2015
Traditional
2015
J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
Monthly Market Detail - December 2015 The percentage of Closed Sales during the month Townhouses and Condos which were Cash Sales Hillsborough County
13.8%
Short Sale
20
0
121
Closed Sales
-9.8% -19.4% -15.7% -9.5% 8.4% 20.8% 10.7% -2.2% -4.9% -0.6% 6.8% -4.9% -5.0%
2014
Cash Sales as a Percentage of Closed Sales
0.2%
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
100
0.0%
400
2013
414 329 392 399 491 499 495 441 470 467 437 365 459
300
-12.3%
1,600
2012
Percent Change Year-over-Year
500
Pct. of Closed Sales Paid in Cash
Month
2011
Cash Sales
700
Cash Sales
Closed Sales
900
Pct. of Closed Sales Paid in Cash
Median Days on Market
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014
Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing. There are, of course, many possible exceptions, so this statistic should be interpreted with care.
Cash Sales
Paid in Cash
Month
The number of Closed Sales during the month in which buyers exclusively paid in cash
Pct. of Closed Sales Paid in Cash
Closed Sales
Cash Sales
Cash Sales
December 2015
Summary Statistics
www.GTAR.org
Greater Tampa REALTORÂŽ News
February 2016
15
LEGAL CORNER Sending safety alerts? There’s a legal risk You get a call that a prospective buyer is behaving suspiciously during a property showing. Do you send out a safety alert? You hear of a toxic spill near properties listed in the MLS. Should you alert the listing brokers?
Many associations and brokerages have become early warning systems for safety issues, alerting their members or agents to anything from suspicious characters posing as homebuyers to con artists burglarizing homes during showings to hazards potentially affecting properties. Yet there's a legal risk to trying to do the right thing. Over the years, NAR Legal Affairs has received calls from associations and brokerages that have been threatened with lawsuits, and others that have gone through litigation because of safety warnings they issued. A poorly worded warning can expose the issu-
er of the warning to claims ranging from defamation of character to interference with a sale to violations of the Fair Housing Act. So how do you protect yourself from liability? Create a policy Create a clear written policy for issuing warnings and notices. The policy should detail the circumstances under which a warning should be issued, specify the required content and tone of the warning, and outline the process for issuing the warning. In addition, the policy should address any restrictions on the scope of the warning. For instance, will it limit warnings to purely MLS and association-related issues or cover broader community issues. Policy drafters should keep in mind that the broader the policy, the greater the potential for litigation.
Proper warning format The next step is to create a warning template. The warning should be neutral in tone (never judgmental) and should never offer specific legal advice. The warning should be based entirely on facts and cite outside resources where individuals can learn more about the issue (such as the local police website or the local newspaper). Always have an attorney review any warning statement before it is published. A safety alert policy can be simple. For example, it could require that an alert direct individuals to contact the police directly with all complaints about individuals acting suspiciously. Only if and when the police open a file on the complaint will a warning be issued. The warning will contain basic information about the complaint, and include the investigating
International From Page 8
And until recently, people from the United Kingdom and Germany targeted Sarasota and Fort Myers, Fuentes said. "Now, the prices have gone up down there and there are limits in land mass. You are seeing movement of Germans and British here. Prices are a big draw." Copa Airlines, which now offers direct flights from Panama City, brings in Latin American investors who previously flew directly to Miami. "Those flights, that is huge," Fuentes said. "In addition, just in December Lufthansa added the direct
flights from Frankfort, a hub for Asians who want to come to the United States." Glaser said a number of his Latin American clients come here because they consider it a safe place to invest their money and a safe place for their families, who in some cases are living behind barbed wire fences in their home countries. The majority of Latin American buyers come from Brazil, Venezuela, Colombia and Argentina. Part of the difficulty in bringing in foreign buyers is that they are not all familiar with Tampa, Glaser said.
There's a learning curve about where it is in relation to Miami and Orlando and what this area has to offer, from condos and suburban homes to restaurants, museums and culture. "Walkability is big with Europeans," said Jane Gowarty, vice president of business development and relocation for Smith & Associates. "They want to be able to walk to the grocery, the museum, to look at the water. If you can get them to Tampa Bay and give them a tour, safety is a huge factor and the pricing here is right."
detective's phone number. The policy can also require attorney review prior to the alert’s publication. Ultimately, issuing notices and warnings can be a valuable service, and
can increase the safety of real estate professionals and the community. Follow these tips to minimize your exposure while keeping your members and agents safe and profitable.
ISSUING A WARNING
Below are four potential warning scenarios and an analysis of the issues raised by each. 1. Suspicious behavior Three members report having a "bad feeling" about an individual who's interested in visiting only high-end properties. How should you provide a warning? Contact the police first. If authorities open a case, you can then publish an alert with factual information about the police investigation. Provide the individual's name only if the police report also lists the name. A description may be given but should be drawn directly from a police source if possible. Finally, the alert should direct all further inquiries to the police.
2. Con artist on the loose You receive a call from an Association Executive alerting you to a scam artist who may be directly targeting your members or your agents. Do you issue a warning to be careful when doing business with the individual? First, ask the AE the source of the information and determine whether a complaint has been filed with the police in the AE's jurisdiction. If a complaint has been filed, you could provide a notice about that complaint and include the contact information of the investigating detective. If no complaint has been filed, you would be wise to obtain some type of evidence of the scam before issuing an alert, such as court records (but not pending lawsuits), local police reports, or newspaper reports. The bottom line here is that you should proceed with caution when considering issuing an alert based on the limited information of a few individuals. Doing so could open you and your business to litigation.
3. Hazardous waste spill The local paper reports a large toxic spill near properties for sale. How can you issue a warning about the toxic spill and the possible dangers it may pose to properties in the area? Think of the notice as an educational tool. It should be drafted carefully, containing only factual information from cited outside sources so that readers can direct their clients' inquiries to a third-party source.
4. Deadbeat tenant A real estate professional who had an unpleasant experience with a former tenant wants to warn fellow members about the individual. Should you provide such a warning? This type of warning is risky, since your source may not be unbiased. Work closely with your attorney before making such a warning. If the real estate professional has obtained a judgment against the former tenant, you could issue a warning based on those facts. However, you should not disclose whether the former tenant has filed for bankruptcy, as there are penalties related to stigmatizing a debtor.
16
February 2016
Greater Tampa REALTOR速 News
www.GTAR.org
CANDID CAMERA PROFESSIONAL DEVELOPMENT YEAR-END COMMITTEE MEETING
FLORIDA REALTORS速
GREAT AMERICAN REALTOR DAYS
GENERAL MEMBERSHIP MEETING
DEC. 18, 2015
JAN. 12-13, 2016
JAN. 22, 2016
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Greater Tampa REALTOR® News
February 2016
Details make the difference.
It’s the little things that matter. Touches of elegance and attention to detail provided by a craftsman builder that are the difference between just another house and a luxurious manor home. Adobe Homes, Tampa’s premier homebuilder, offers two impressive collections of stunning single-family home designs complete with an array of luxury features unmatched in quality and value. Adobe Homes offers two magnificent gated community
• 1 to 6 Acre Lots • Equestrian Estates Available • Courtyards • Copper Chimney Caps • Pool Packages • Stone Mantel Fireplaces • Copulas • Beamwork
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Please call us at 813.417.6696 or visit our website for complete details. www.adobehomes.com/realtor
17
18
February 2016
Greater Tampa REALTOR® News
Florida
www.GTAR.org THE REALTORS® POLITICAL ACTION COMMITTEE OF GTAR PRESENTS
GREAT ER
al water supply authorities, will operate by a set of statewide standards for collecting and analyzing water supplies and water quality. Operating by one set of standards will ensure reliable data. • It establishes water flow levels for the state's natural springs, and DEP will oversee pollution control measures for Lake Okeechobee, the Caloosahatchee Estuary and the St. Lucie River and Estuary. Governor Scott has signed the bill and the new law becomes effective July 1, 2016. In addition to new rules, it will also create a starting point for future water protection measures.
Rest in Peace
Duane Leininger
GTAR Member and New Port Richey REALTOR® passed away on DEC.30TH, 2015. Our solemn thoughts arewith his friends & family.
4TH ANNUAL
TORS AL RE
for passing this great bill." Florida Realtors 2016 Talking Points outlined the soon-to-be law's benefits: • It creates the Florida Springs and Aquifer Protection Act. The objective is to put programs in place that protect and restore water flow and water quality in the Florida aquifer, a massive body of fresh water than flows through porous rocks below the surface. The programs will also improve conditions at "outstanding Florida Springs." • The Department of Environmental Protection (DEP), in cooperation with water management districts and other region-
C ASSO IATION PA O M A
F
T
From Page 1
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TECHNOLOGY IS SNAPCHAT BETTER FOR REAL ESTATE MARKETING? Although real estate agents should continue using Facebook, some believe Snapchat is real estate's social network of the future. The video-messaging app lets users take photos, record videos, add text and drawings, and send them to followers. Once sent, agents can place a time limit on how long the "Snaps" can be viewed. That limited-time feature can boost readers' focus because. Agents have followers' undivided attention because they know Snaps disappear after viewing. They're also easier to view because users don't have to scroll through a news feed to discover them. In addition, users view Snapchat shares at a time convenient for them. Snapchat also allows agents to record Snap videos when previewing a home, provide narration as necessary, and send it to clients
who want to know how a home feels. If intrigued, the client can then message the agent within Snapchat and request more information about the home. Agents can also use the Snapchat app to showcase a listing's unique features, and Snaps to My Story collects all snaps in one place and makes them visible to followers and friends for 24 hours. Agents should view Snapchat as just one tool in their marketing strategy, however, remembering that it takes time to grow a following. In all cases, snaps should direct followers back to the agent's website and other social media channels for more information.
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Greater Tampa REALTOR® News
February 2016
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February 2016
Greater Tampa REALTOR® News
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Hidden Oaks | Townhomes
Union Park | Plymouth B
Concord Station | Pennsylvania C
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Photographs are solely for illustrative purposes and should never be relied upon. The specific elevations of a home and features in a home may vary from home to home and from one community to another. Prices subject to change without notice. Please see your New Home Consultant and home purchase and sale agreement for actual features designated as an Everything’s Included® feature, additional information, disclosures, and disclaimers relating to your home and its features. We reserve the right to substitute features, equipment, material, appliances and brand names with items of equal or higher, in our sole opinion, value. Color and size variations may occur. Photographs may contain options which are not standard on all models. Offer valid only in states where not prohibited by law. +The information from Builder 100 is used or reprinted with permission from Hanley Wood Media, Inc. Copyright © 2015 Lennar Corporation. All rights reserved. Lennar, the Lennar logo, Everything’s Included Homes, the Everything’s Included logo, Knowology and the Knowology Logo are registered service marks or service marks of Lennar Corporation and/or its subsidiaries. CGC1518166 (01/16)
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