Greater Tampa REALTOR News: October 2016 by Greater Tampa REALTORS®

Requested Delivery By: October 10, 2016

2017 MEMBERSHIP DUES DEADLINE - NOVEMBER 30, 2016

OCTOBER 2016 THE OFFICIAL PUBLICATION OF THE GREATER TAMPA REALTORS®

PRESORTED STANDARD US POSTAGE PAID TAMPA, FL Permit No. 2397

Thank You for Voting!

Results: 2016 GTR Elections Online voting for the GTAR 2017 Officers and Directors concluded on September 25 at 11:59 p.m. and the results of the annual election of officers and directors have been certified by our CPA firm and attorney. The results are as follows:

OCTOBER 2016

IN THIS EDITION

A message from the GTR President

Your Association has been very busy this year make changes that will usher us into the future. Page 2 President-Elect Mari Colgan

Vice President Bob Pasquarello

Treasurer Dan Hazy

Secretary Diana Englehart

RCF has a new website

Director Marvin Gordon

Be sure to use the new website as a tool to find accurate and up-to-date information on all RCF events, programs and initiatives. Page 4

Director Ruth Bryson

Director Ellie Lambert

Director Lea Lagueux

Director Carl Shenning

Alternate Director Anthony Canizares

Alternate Director Alma Alexander

All of the proposed bylaw changes were approved. Visit www.gtar.org/bylaws to view the proposed changes with the rationale. We would also like to thank all the members that ran for on Officer or Director position: Anand Patel, Robert Galitz, Sandy Streit, Vicki Raspa, Dao Alderman, Tom Brubaker, Laure Taylor, Josephine “Jo” Easton, Alberto Baalbaki, and Teresa Morning.

2017 MEMBER DUES DEADLINE GTR 2017 dues are delinquent if received after November 30, 2016. A $50 late fee is required if dues are not received by November 30, 2016. Membership is terminated if all dues and fees are not received by December 31, 2016. An additional $99 fee will be required for payments received after December 31, 2016. CASH IS NOT ACCEPTED! CODE OF ETHICS

pg.6

• EDUCATION

pg.11

RPAC Hall of Fame

Connie Johnson, a current member and past GTR president, was inducted into the RPAC Hall of Fame in recognition of her longtime contribution. Page 5

Questions? We have your answers

May I continue working as the broker in my company and accept the broker associate job at another company? Page 9

Permitting past haunt many properties

WIN FREE DUES!

Learn more about permitting history in the municipal lien searches. Page 13

Pay your dues through the GTR Member Portal by October 31 to be entered into a drawing.

Candid Camera Aug./Sept. 2016. Page 18

Learn more on page 2.

• MLS STATISTICS

pg.14

• AFFILIATES

pg.16

October 2016

Greater Tampa REALTOR® News

ABOUT GTR

The Greater Tampa REALTORS®, Inc. (GTR) is the largest Tampa Bay-based professional association of real estate brokers and sales associates conducting business throughout the Bay. GTR 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

www.GTAR.org

2017 MEMBER DUES RENEWAL

Thank you for choosing GTR Your Association has been very busy this year. As I stated in my Installation speech, it was my #1 goal to make sure you received the best return on your investment (ROI) that is possible. In order for your Association to provide you with the support, resources, and influential voice you need, your Board of Directors and Association Staff needed to make several changes. Here are a few of those improvements: • A complete building renovation, fitted with state-of-the-art technology

Secretary Norma Cohen................. (813) 992-5845

• An updated brand with a new name, logo and website

Immediate Past President Barbara Jordan...............(813) 962-0631

• New Membership Database platform (RAMCO)

Chief Executive Officer Dennis MacDonald......... (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 GTR 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 GTR are hereby authorized to reproduce articles appearing in this newspaper, provided each such reproduction gives the following credit:

Reprinted from the Greater Tampa REALTOR® News, Greater Tampa 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 GTR. All advertising is subject to the approval of the GTR Board of Directors/Chief Executive Officer.

DISCLAIMER

Articles contained in this publication express the opinion of the author and not necessarily the opinion of GTR.

HEADQUARTER INFO

Greater Tampa REALTORS® 2918 W. Kennedy Blvd. Tampa, FL 33609 (813) 879-7010

CORRECTIONS

Oops! Every now and then, a mistake slips through the cracks. We would like to acknowledge the following errors: • R osaura Mora and Luis Mora were incorrectly listed as a new members. They have been REALTORS® for over 27 years. • L ast month's article "2016 GTAR Elections: Make your vote count" used our old acronym. It should have used "GTR" instead of "GTAR"

BY ANDY JOE SCAGLIONE 2016 GTR President

• New Accounting System (Great Plains) • A revamped affiliates program, with new levels for increased exposure • New customer service program, launching in 2017 • New Chief Executive Officer with a clear direction for the future • Several new and talented staff members

2017 DUES

Make a note! The 2017 dues were mailed at the end of September. Learn how to pay your dues online today! gtar.org/dues

Your 2017 member dues remain unchanged from last year. Visit www.gtar.org/dues to learn more. We are continuing to add more value to your membership without raising your dues. I encourage you to take advantage of your member benefits and to signup for a GTR Committee. We need your talents and knowledge to help steer the Association into the future. Your Board of Directors and Association staff are here to serve you, feel free to contact us with any questions, suggestions or concerns. We look forward to a positive end to 2016 and a profitable 2017.

WIN FREE DUES! If your dues are paid online through the GTR member portal before October 31 you will be entered into a drawing to win free dues for 2017 (via refund check).

REALTOR® Members (three winners) • 1ST place drawing: Free Local, State, & National dues ($421 value) • 2ND place drawing: Free State & National dues ($301 value) • 3RD place drawing: Free Local dues ($120 value) You MUST complete the online process without assistance from Association staff. Watch the video tutorial at gtar.org/dues on paying GTR dues through the member portal. The winners to stop into the association to pick up their dues waiver certificate and take a picture for our newspaper.

Affiliate Members (one winner) • Free Affiliate Membership ($200 value)

MEMBER BENEFITS

COMMITTEE SIGN-UP

When you joined the Greater Tampa REALTORS® (GTR), you joined a community that is part of the largest professional trade group in the country. In additional to being a member of GTR, you are also receive the benefits from Florida Realtors® and the National Association of REALTORS® (NAR).

Want to make a difference in your association and your profession? Help steer GTR’s direction by sharing your talents and knowledge as a volunteer on an GTR committee. Review the committee descriptions on the website to see what interests you and submit your request forms by October 31.

Visit gtar.org/benefits

Visit gtar.org/committees

www.GTAR.org

Greater Tampa REALTOR® News

October 2016

Where Do Your Dues Go?* Have you ever wondered where your annual dues go? This infographic explains the percentage that stays with GTR and the amounts that go to Florida REALTORS® and the National Association of REALTORS® National Association of REALTORS® (NAR)

28%

• $120 - Member Dues Goes toward national-level advocacy and programs, products and services. • $35 - Public Awareness Fee Convinces consumers of the value of REALTORS® through its national Consumer Advertising Campaign.

Florida REALTORS® (FR)

27%

• $116 - Member Dues Goes toward state-level advocacy and programs, products and services. • $30 - Issues Advocacy Fee State-level advocacy that impacts your bottom line.

Greater Tampa REALTORS® (GTR)

22%

• $120 - GTR Member Dues Goes toward local programs, educational opportunities and member services.

REALTORS® PAC (RPAC)

*These percentages reflect

the Primary REALTOR® Dues. For more information on the dues breakdown for other member types, visit gtar.org/dues.

18%

• $99 - Voluntary Investment Impacts your bottom line through issues mobilization and direct support of local, state, and federal candidates who support REALTORS®

REALTORS® Care Foundation (RCF)

• $25 - Voluntary Contribution Helps local families achieve the dream of homeownership.

October 2016

Greater Tampa REALTOR® News

www.GTAR.org

REALTORS® Care Foundation (RCF) Launches New Website

The value of a home is more than its price. A home is the center of our lives, the place where we raise our families, form bonds with our neighbors and feel a sense of belonging to something larger… we are part of a community where our hopes for a brighter future come together. I'd like to invite you to

visit the newly revamped website of the REALTORS® Care Foundation and thank you for allowing us the opportunity to keep you informed. Visit our website at www.rcfgtr.org. When the REALTORS® Care Foundation was created in 2006, the founding members provided us with a clear vision that the

Foundation should work to provide educational housing programs and services for those who call Hillsborough County home. Since that date, the Foundation has strived to improve of the quality of life for those in the local community who need it most. Our work in the community involves:

• Creating housing opportunities for families who need a little extra support to make their dreams come true, and contribute to the economic vitality of Hillsborough County. • Enabling local youth to attend an institution of higher education. • Providing disaster relief services to aid in the recovery of the community. Our leadership, REALTORS® and volunteers come from many diverse backgrounds. Together we become a unified front with the power to

BY JANET SWILLEY REALTORS® Care Foundation President create positive change in Hillsborough County. Owning a home is the dream of every family, and by supporting the work of the REALTORS® Care Foundation, you are making this dream a reality and making a positive difference in your community. Be sure to use this website as a tool to find accurate and up-to-date information on all RCF events, programs and initiatives.

Visit the new website at www.rcfgtr.org

2016 RPAC MAJOR INVESTORS

Andy Joe Scaglione Platinum R

Connie Johnson Golden R President's Circle

Barbara Jordan Golden R President’s Circle

Dennis MacDonald Sterling R

Brenda Rabbitt Sterling R President’s Circle

Susanna Madden Crystal R

Jack Rodriguez Crystal R

Ric Barmes Sterling R Continued

Mary McCall Sterling R Continued

Brad Monroe Sterling R Continued

Don Walden Sterling R Continued

Jeanette Yates Sterling R Continued

Ellie Lambert Sterling R

www.GTAR.org

RPAC MAJOR INVESTOR PROGRAM RPAC’s Major Investor Program consists of an elite and passionate group of REALTOR® investors who partner with NAR to shape the political future of the real estate industry. Members of the Major Investor Program are eligible to participate in the RPAC Recognition Program, with specific benefits and accolades that acknowledge their support of RPAC. With a minimum annual investment of $1,000, there are four levels within the RPAC Major Investor Program: Sterling R, Crystal R, Golden R and Platinum R.

Learn more at

www.gtar.org/RPAC

$163,260

Greater Tampa REALTOR® News

October 2016

Johnson inducted into the RPAC Hall of Fame The REALTORS® Political Action Committee, or RPAC, – a national bipartisan grassroots-based political advocacy organization – has added another name to its “Hall of Fame.” Connie Johnson, a current member and past president from the Greater Tampa REALTORS®, was inducted into the RPAC Hall of Fame recently in recognition of her contribution and support. “RPAC is there to help shape the future of our industry,” said Johnson, a REALTOR® with Coldwell Banker. “I’m proud to be the first GTR member inducted into the Hall of Fame, and even prouder to have been a faithful supporter all these years.” Johnson became a RPAC Major Investor in 2006. The RPAC Hall of Fame recognizes dedicated members whose investments total an aggregate of at least $25,000. Members are inducted at member meetings

in May in Washington, D.C. and are recognized with a lapel pin, an inscription of their name on a plaque on the National Association of REALTORS®’ Washington, D.C. building rooftop, and a plaque commemorating their support. Johnson has supported RPAC for 21 years, and has been a member of the National Association of REALTORS® since 1988. Connie currently holds the ABR and GRI REALTOR® designations and she is also a member of several Florida REALTORS® committees, including RPAC, Public Policy and the Public Advocacy Advisory Board. She was appointed by NAR to serve as a Federal Political Coordinator for Congressman Gus Bilirakis and she will be the 2017 Chair for the Florida REALTORS® Public Policy committee. The first RPAC Hall of Fame class was inducted in 2002 and contained only 22 Realtors®.

Across the country, nearly 700 individuals have been inducted into the RPAC Hall of Fame. RPAC is a voluntary political action committee whose membership consists of REALTORS® and affiliates interested in actively and effectively protecting the real estate industry and the dream of homeownership by participating in government affairs at the local, state and federal levels. The Greater Tampa REALTORS® are proud of Connie’s accomplishments and her 20+ year dedication to the real estate profession.

NAR Study: Real Estate Cheapest in Fall, Winter

Current amount invested

$154,573.80

As of September 27, 2016 To contribute to Florida REALTORS® PAC, please visit

www.gtar.org/FLPAC Choose "Greater Tampa Assn" for the Contribution Board/Association field.

Your home buyers likely won’t want to shy away from the fall or winter months. They may score the best deals. Home sales prices in the nation’s largest metros typically peak during the summer but drop in the fall and are lowest in the winter, according to a new study from NerdWallet, in which researchers analyzed sales and listings over the past two years in the 50 largest metros using realtor.com® data. Home sale prices tend to peak in June and July, according to the analysis. Buyers will find the most inventory or home choices during those months

but there is also more competition from other buyers that they will have to contend with. The market tends to slow in the fall and sales prices start to dip. Sales prices drop nearly 3 percent, on average – a fall of $8,300 on the median home – from summer (June through August) to fall (September through November). Home sale prices tend to be cheapest in the winter. In January or February, for example, homes could potentially cost 8.45 percent less on average than in June through August. January had the lowest sales prices in 29 of the 50 metro

areas analyzed; February had the cheapest in 19 areas. “If your circumstances give you the freedom to be able to choose the best time to look to sign a contract on a new home, there’s no question that the market dynamics favor you the most to do that in the dead of winter, ideally in January or February, right before the activity starts to heat up,” says Jonathan Smoke, realtor.com®’s chief economist. Source: “House Shopping After Summer Ends? Buying Later in the Year Could Save You Thousands,” NerdWallet

October 2016

Greater Tampa REALTOR® News

www.GTAR.org

CODE OF ETHICS

Pathways to Professionalism While the Code of Ethics and Standards of Practice of the National Association establishes objective, enforceable ethical standards governing the professional conduct of REALTORS®, it does not address issues of courtesy or etiquette. Based on input from many sources, the Professional Conduct Working Group of the Professional Standards Committee developed the following list of professional courtesies for use by REALTORS® on a voluntary basis. This list is not all-inclusive, and may be supplemented by local custom and practice. RESPECT FOR PROPERTY RESPECT FOR THE PUBLIC

1. Be responsible for everyone you allow to enter listed property.

1. Follow the "Golden Rule”: Do unto other as you would

2. Never allow buyers to enter listed property unaccompanied.

2. Respond promptly to inquiries and requests for

3. When showing property, keep all members of the group together.

have them do unto you. information.

3. Schedule appointments and showings as far in advance

as possible.

4. Call if you are delayed or must cancel an appointment

or showing.

5. If a prospective buyer decides not to view an occupied

home, promptly explain the situation to the listing broker or the occupant.

4. Never allow unaccompanied access to property without permission. 5. Enter property only with permission even if you have a lockbox key or combination. 6. When the occupant is absent, leave the property as you found it (lights, heating, cooling, drapes, etc.) If you think something is amiss (e.g. vandalism), contact the listing broker immediately.

7. When entering a property ensure that unexpected

7. Be considerate of the seller's property. Do not allow anyone to eat, drink, smoke, dispose of trash, use bathing or sleeping facilities, or bring pets. Leave the house as you found it unless instructed otherwise.

8. Leave your business card if not prohibited by local

8. Use sidewalks; if weather is bad, take off shoes and boots inside property.

9. Never criticize property in the presence of the

9. Respect sellers’ instructions about photographing or videographing their properties’ interiors or exteriors.

10. Inform occupants that you are leaving after showings.

RESPECT FOR PEERS

11. When showing an occupied home, always ring the

1. Identify your REALTOR® and professional status in all contacts with other REALTORS®.

6. Communicate with all parties in a timely fashion.

situations, such as pets, are handled appropriately. rules.

occupant.

doorbell or knock—and announce yourself loudly before entering. Knock and announce yourself loudly before entering any closed room.

2. Respond to other agents' calls, faxes, and e-mails promptly and courteously.

12. Present a professional appearance at all times; dress

3. Be aware that large electronic files with attachments or lengthy faxes may be a burden on recipients.

13. If occupants are home during showings, ask their

4. Notify the listing broker if there appears to be inaccurate information on the listing.

14. Encourage the clients of other brokers to direct

5. Share important information about a property, including the presence of pets, security systems, and whether sellers will be present during the showing.

appropriately and drive a clean car.

permission before using the telephone or bathroom. questions to their agent or representative.

15. Communicate clearly; don’t use jargon or slang that

may not be readily understood.

16. Be aware of and respect cultural differences. 17. Show courtesy and respect to everyone. 18. Be aware of—and meet—all deadlines. 19. Promise only what you can deliver—and keep your

promises.

20. Identify your REALTOR® and your professional status in

contacts with the public.

21. Do not tell people what you think—tell them what you

know.

6. Show courtesy, trust, and respect to other real estate professionals. 7. Avoid the inappropriate use of endearments or other denigrating language. 8. Do not prospect at other REALTORS®' open houses or similar events. 9. Return keys promptly. 10. Carefully replace keys in the lockbox after showings. 11. To be successful in the business, mutual respect is essential. 12. Real estate is a reputation business. What you do today may affect your reputation—and business—for years to come.

www.GTAR.org

Greater Tampa REALTOR® News

October 2016

Living the good life is closer than you think.

Realtors receive a ®

500 Gift Card

for every new home sold Now through October 31, 2016

Move-In Ready Homes Available in Every Price Range and Home Type. Start living the good life ... just minutes from I-75 and I-275 Villas from the upper $100’s | Single Family Homes from the $230’s to over $1 Million

813-907-0101 CROWN-WATERGRASS.COM

In Wesley Chapel, I-75 to exit 279 (SR 54), East 2.6 miles Left on Curley Road WaterGrass is ahead on right.

Arthur Rutenberg Homes (813) 948-2504 | Bakerfield Luxury Homes (813) 867-4050 CalAtlantic Homes (813) 388-2933 | D.R. Horton (813) 388-6831 | CalAtlantic Homes (813) 994-1911 * Contact a WaterGrass Community Representative for details. • Promotion runs from July 15, 2016 thru Oct 31, 2016. • Client must have a completed contract on a WaterGrass new construction home, earnest money check and completed AMEX Gift Card Promotion form by 5pm on August 15, 2016. • Contract must be on a new construction home. Builder new construction move-in ready homes are included. Homes that have been occupied or resale homes are EXCLUDED. • One “client” may equal one or more individuals who will reside in the same single-family home. • Gift card awarded within 14 days of closing. • Only licensed brokers and REALTORS® are eligible for the promotion. • Builders and their family members, employees and sales representatives, as well as employees of Crown Community Development are not eligible. • Broker and visitor must register with Builder • Crown Community Development reserves the right to change or cancel this promotion at any time. • Crown Community Development is the final arbiter in all disputes. • REALTOR® is a registered trademark of the National Association of REALTORS®. • This is a promotional offer only and Crown has no affiliation with Builders. • Transaction between Builder and REALTOR® is separate. • Any and all commissions on sales are between Builder and REALTOR®. • Crown Community Development pays no commission. • Program subject to change without notice. • This promotion cannot be combined with any other promotion, incentive, or offer. It is the responsibility of the REALTOR® to make their Broker aware of any and all rewards/gifts received as a result of this promotion. 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, D.R. Horton CBC 039052, CalAtlantic Homes CBC 1253657, CalAtlantic Homes CGC 1506304 WG249

October 2016

Greater Tampa REALTOR® News

www.GTAR.org

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Florida REALTORS®

ASK AN ATTORNEY

Q&A LICENSE LAW QUESTION: I am the qualifying broker-owner of a real estate company. Recently, I received an employment offer from a prestigious real estate company to work as a broker-associate. May I continue working as the broker in my company and accept the broker associate job at the prestigious company? ANSWER: No. You can’t be a broker in one company and a broker-associate in another. An associate (whether sales associate or broker-associate) may not hold multiple licenses and may not work for more than one real estate company. However, an individual who holds a broker’s license may hold multiple brokers licenses, entitling that person to work as a broker in multiple real estate companies.

The Florida Realtors Legal Hotline is a free benefit available to all members. Call: 407.438.1409. Hours are 9 a.m. - 4:45 p.m., Monday - Friday. The information and materials in this column are provided by Florida REALTORS® 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

October 2016

WELCOME NEW MEMBERS Kamal Abdel Suarez

Justin Dunn

Christopher Kelly

Denise Pate

Rakan Abuzaid

Reinaldo Echevarria

Laura Kenney

Ana Pazmino

Sarah Acevedo

Lilian Edbom

James Key

Deborah Pearson

Hatdiel Acosta

Ashley Eidson

Darrel Klap

Erasmo Perez

Cherlene Adewunmi

Jillian Etheridge

Irene Konowal

Mandie Plumb

Caitlin Akers

Paul Farr

Patricia Kremser

Judith Poulos

Michele Alexander

Vanessa Ferreira Halloum

Ganesh Kugaraj

Gabor Presser

Erica Kuykendall

Esperanza Racaza Benitez

Mena Antanios Jorge Arizmendi Ariel Azcuidiaz Roy Barker Heather Barnette Julian Barrera Kelly Barry Paula Battles Eric Beck Bartley Beckley Glenn Bell Nancy Bentley Danielle Bradford Laughlin

Carrie Fisher James Fisher Lindsay Fladd Katlin Ford Fabio Fulco Shelley Galloway Alyssa Getzoff Ronald Grant Rudolf Grass June Guy Shawnie Hanes Jessica Hansen Peter Hanson

Catherine Brown

Eric Hardy

Erin Bunke

Jayme Harris

Graciela Caballero

Donte Harrison

Amy Camasso

John Harting

Tonya Campbell

Lauren Haseman

Derek Cantre

Kevin Hearne

Leah Carapella

Rawson Hembree

Tammie Carlsen

Lauren Hobby

Joseph Carpenter

Jessica Holand

Tyler Carpenter

Tina Huard

Alexandra Casey

Szana Hughes

Turan Celiker

Dustin Hurlburt

Anne Centeno

Albert Hurley

Jeff Christie

William Hyder

Tara Cole

Sehrish Imtiaz

Joshua Coney

Jamie Inman

Adam Conrad

Venelin Ivanov

Michelle Corigliano

Heather Jackson

Rhina Cortes

Brian Jones

Ron Couturier

Jessica Joseph

Kimberly Cunningham

Rebecca Kapusta

Cole Curran

Dempsey Karen

Tara Curry

Courtney Kasberg

Lance Danielson

Lara Kazanski

Timothy Diehl

Samantha Keithley

Erica Lavina Earl Lawrence Jennifer Leeper Vilaire Lizima Woodlyne Love Lizabeth Lowe Britney Lowrance Cynthia Lukehart Christopher Lynch Crystal Lynch Daysi Malloy James SR Mancuso Edward Mateus Karen McCaughan Thomas McEowen Kristina McGillivray David McKinlay Amy McLain Donna McNabb James McNally Audrey Miller Michael Mitchell Melissa Morgan Brian Morris Milena Mulay Derrick Myers Kristine Mynch Melissa Neidhardt Michael Nelson Christopher Nowicki Kristina O’Kelley Roberto Oquendo Nicola Ortiz Leslie Pagan Danielle Paladino Vila Jennifer Pangraze Kelli Parker Swapna Parulekar

Jose Remigio Dean Rock Aisel Rodriguez Eira Salas Ahmad Samhouri Michael Sasloe Jason Scrivner Denise Sears Jason Shapiro William Shaw Michelle Shine Andrea Shokrani Janeel Shulmister Adriana Silver William Smith David Snow Jr Gayle St. John Liam Symmonds Toni Thomas Lawrence Tiffany Ricardo Tobchi Alisha Todd Debra Trinca Mason Troupe John Turlington Brittany Vanderloop Vanessa Vargas Barbara Welch Courtney Welch Henri White Alexandra Wilkinson Amanda Wolf Karen Wood Andy Woods Susan Woods Bishop Ryan Yarde Brandy Young

Special thanks to our October 14, 2016 Orientation Sponsors

October 2016

Greater Tampa REALTOR® News

www.GTAR.org

CALENDAR OCTOBER TUESDAY, OCTOBER 4 gent Slinghot Workshop Series: A Snapchat 10:00AM - 12:00PM ode of Ethics C 1:00PM - 4:00PM

WEDNESDAY, OCTOBER 5 IPS: Local Markets C ALL DAY earching, Reports, and Contact S Management 9:00AM - 12:00PM he Mobile Agent T 1:00PM - 3:00PM EALTORS® Commercial R Alliance Committee 10:30AM - 12:00PM

THURSDAY, OCTOBER 6 roperty Managers Taskforce P 8:30AM - 1:30PM EALTOR®/Attorney Committee R 9:30AM - 11:30AM

FRIDAY, OCTOBER 7 overnmental Affairs G 9:30AM - 11:30AM EALTORS® Political Actions R Committee (RPAC) 10:45AM - 12:15PM

MONDAY, OCTOBER 10 ode of Ethics C 1:00PM - 4:00PM I nternational Council 3:00PM - 4:30PM

TUESDAY, OCTOBER 11

MONDAY, OCTOBER 17 oard of Directors Meeting B 9:30AM - 1:00PM

TUESDAY, OCTOBER 18 LS Basic M 9:00AM - 12:00PM

IPS: Transaction Tools C ALL DAY

gent Slinghot Workshop Series A 10:00AM - 12:00PM

oung Professionals Network Committee Y 10:00AM - 11:30AM

LS Compliance 101 M 1:00PM - 2:30PM

echnology User Group T 5:30PM - 7:30PM

LS Adding and Editing Listings M 3:00PM - 4:30PM

WEDNESDAY, OCTOBER 12 RI 301 G 8:30AM - 6:00PM 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 ommercial Pitch C 1:00PM - 2:30PM inance Committee F 1:30PM - 3:00PM

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G TAR Board/Committee Meetings E ducational Opportunities M LS Computer Classes

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TUESDAY, OCTOBER 25 LS Basic M 9:00AM - 12:00PM LS Compliance 101 M 1:00PM - 2:30PM LS Adding and Editing Listings M 3:00PM - 4:30PM

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WEDNESDAY, OCTOBER 19 RI 302 G 8:30AM - 6:00PM

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FRIDAY, OCTOBER 21 IPS: Asia/Pacific Islands C ALL DAY egional Coalition Meeting R 9:30AM - 10:30AM rofessional Development P Committee (PDC) 10:00AM - 11:30AM

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Please visit gtar.org/calendar for the most up-to-date information.

NOVEMBER TUESDAY, NOVEMBER 1 ode of Ethics C 1:00PM - 4:00PM

WEDNESDAY, NOVEMBER 2 EALTORS® Commercial R Alliance Committee 10:30AM - 12:00PM ommercial Pitch C 1:00PM - 2:30PM

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FRIDAY, NOVEMBER 4

WEDNESDAY, NOVEMBER 9

egal Lounge L 9:30AM - 11:00AM

ffiliates/Business Partner Meeting A 10:00AM - 11:30AM

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air Housing Committee F 11:00AM - 12:30PM

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ode of Ethics C 1:00PM - 4:00PM inance Committee F 1:30PM - 3:00PM

THURSDAY, NOVEMBER 10 ommunications Committee C 9:30AM - 11:00AM roperty Managers Taskforce P 11:00AM - 12:00PM

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EALTORS® Political Actions R Committee (RPAC) 10:45AM - 12:15PM

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TUESDAY, NOVEMBER 15 oung Professionals Network Committee Y 10:00AM - 11:30AM

ode of Ethics C 9:30AM - 12:00PM

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THURSDAY, NOVEMBER 17 eroes, Welcome Home H ALL DAY earching, Reports, and Contact S Management 9:00AM - 12:00PM he Mobile Agent T 1:00PM - 3:00PM

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overnmental Affairs G 9:30AM - 11:30AM

TUESDAY, NOVEMBER 8

WEDNESDAY, NOVEMBER 16

ffordable Housing Committee (AHC) A 9:30AM - 11:00AM

AP Graduation C ALL DAY LS Basic M 9:00AM - 12:00PM

egional Coalition Meeting R 9:30AM - 10:30AM rofessional Development P Committee (PDC) 10:00AM - 11:30AM

The Association is starting a new magazine publication, beginning in January 2017! The last issue of the Greater Tampa REALTOR® Newspaper will be released in December 2016. Please read the November issue for more information.

TUESDAY, NOVEMBER 29 LS Basic M 9:00AM - 12:00PM LS Compliance 101 M 1:00PM - 2:30PM LS Adding and Editing Listings M 3:00PM - 4:30PM

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October 2016

Greater Tampa REALTOR® News

EDUCATIONAL OPPORTUNITIES

Code of Ethics Training Deadline to complete the course is December 31, 2016.

Loyalty • Fiduciary • Cooperation • Truthfulness REALTORS® are required by the National Association of REALTORS® (NAR) to complete 3 hours of Code of Ethics training within four-year cycles. For the current cycle, all training must be completed between 2013-2016. If you last completed your ethics training prior to 2013: You MUST select an option below and complete your option prior to Dec. 31, 2016. If you need to check your last ethics training date: Visit www.realtor.org, sign in to manage account, and view education records. For sign in assistance, contact NAR at 1-800-874-6500

CLASSROOM

IN-OFFICE

ONLINE

Great for Brokers! View NAR’s training video from our YouTube channel, sign a waiver, and host the training at your office.

TWO OPTIONS: Current Member Course (No CE, $0) CE Option (3 CE, $29.95).

Visit gtar.org/code to learn more details. EDUCATION QUESTIONS? Contact Amanda Ingram at Amanda@gtar.net or 813.769.7193 2918 West Kennedy Boulevard | Tampa, FL 33609 | 813.879.7010

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October 2016

Greater Tampa REALTOR® News

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COMMERCIAL CORNER

NAR: Commercial Real Estate Expansion Foreseen Buoyed by a steadily improving labor market and strong demand for multifamily housing, commercial real estate activity should remain on an upward trajectory, with a growing share of it is expected to be in smaller markets, according to the National Association of REALTORS® quarterly commercial real estate forecast. National office vacancy rates are forecast by REALTORS® to fall 1.5 percent to 10.4 percent over the coming year as employment gains boost demand for office space. The vacancy rate for industrial space is expected to decline 0.7 percent to 8.7 percent, and retail availability to decrease 1.0 percent to 10.5 percent. Only vacancies in the multifamily sector are expected to edge higher over the next year, from 5.9 percent to 6.1 percent, as new apartment construction comes onto the market. Lawrence Yun, NAR chief economist, says the commercial real estate sector is on firm ground in spite of the numerous global and domestic headwinds that continue to keep U.S. economic growth in a headlock. “Ongoing overseas weakness and the slowdown in business investment despite historically low interest rates held second quarter growth at a tepid and disappointing pace,” he said. “Only steady job creation, solid consumer spending and residential construction – albeit not enough of it – kept the economy afloat during the first half of the year.” Adds Yun, “Tightening vacancy rates and rising rents are clear positive fundamentals, but commercial real estate property prices have been bid up too high and look to weaken in the upcoming months 1.”

Strengthening local job markets has fueled sustained demand for commercial space and has pushed vacancy rates down in all commercial sectors. However, a growing concern from REALTORS®, who mostly have clients that rely on financing to secure deals, is that underwriting standards have stiffened in light of increased regulatory scrutiny. “Any further tightening in credit standards, which never fully normalized after the recession, would inflict the most pressure on the small and mid-sized businesses that mostly look to community banks and credit unions for commercial property financing,” adds Yun. “Not having the necessary access to capital could keep a lid on building and leasing activity and in turn keep the economy from getting closer to its long-term average of 3 percent growth.” With new construction outside of the multifamily sector taking a breather during the first half of the year, overall demand outpaced supply and suppressed inventory levels in many areas. This was evident in the latest REALTORS® Commercial Real Estate Market Survey, which measures quarterly activity from NAR’s commercial members. The survey revealed that inventory shortages are the number one concern for REALTORS®, which is in turn pushing price growth upward. Prices for commercial properties increased 5.3 percent in the second quarter compared to a year ago, with the average transaction cost at $1.4 million. “While inventory constraints and strong appreciation in apartment and retail properties pushed up prices in large commercial

Source: National Association of REALTORS®

markets last quarter, overall sales volume was still down as investors looked for better deals and higher yields in smaller cities,” says Yun. “As a result, investments and leasing activity in middle-tier and smaller markets led the way and are expected to maintain their momentum in coming months.” Given the global low yield environment, instability overseas and the probability of a rate hike by Federal Reserve at the end of the year, investors are expected to take a cautious approach in the months ahead, leading to a likely slowdown in commercial property prices – especially in Class A assets in larger markets. Meanwhile, prices in smaller markets should continue

to climb with strong tenant demand and declining supply supporting growth. According to Yun, the demand for apartments will continue to drive multifamily housing construction, albeit at a more moderate pace, as a growing share of builders shift from apartments to single-family homes. Expected completions being added in coming years should begin to moderate rents and nudge vacancies higher. “The U.S. economy has its flaws and has been stuck in slow-growth mode ever since the Great Recession,” says Yun. “However, it’s still the top performing economy in the world, and U.S. commercial real estate should

continue to remain a stable investment and attractive option for investors even as rates move upward.” NAR’s latest Commercial Real Estate Outlook 2 offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. The NAR commercial community includes commercial members, real estate boards, committees, subcommittees and forums; and NAR commercial affiliate organizations – CCIM Institute, Institute of Real Estate Management, REALTORS® Land Institute, Society of Industrial and Office REALTORS®, and Counselors of Real Estate.

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Greater Tampa REALTOR® News

October 2016

GOVERNMENTAL AFFAIRS

Permitting past (or lack thereof) haunt many properties As REALTORS® many of you may have noticed an increasing number of closings getting held up by problems related to a property’s history with building permits (or lack thereof). The problem is not new. However, it seems to be coming to light more often as “municipal lien searches” now include a review of a property’s building permit history. This has become standard practice since discovered permitting problems can lead to code enforcement action which in turn can lead to liens for accruing fines. The problems usually discovered are either a permit that was never properly closed out or a lack of permit for improvements requiring such. Permits not properly closed out often indicate a final inspection never took place. The usual solution is to then hire an authorized inspection ser-

vice who must inspect the work to see if it complies with the appropriate codes. These are not your typical pre-purchase home inspection or home inspector. This type of review requires inspection engineers authorized by the local permitting authority to inspect on their behalf; meaning this isn’t a matter of a few hundred dollars. Worse, they may very well find that whatever was done did not meet code requirements and faces correction or replacement to resolve. This means a seller proud of their roof replacement a few years ago when pitching the buyer can now face the cost of a complete re-roofing if past work was not compliant. That has ruined many a sale looking good until the title agent called about the municipal lien search. If suspicious about a listing claiming improvements since initial

construction, you might want to suggest the seller purchase a municipal lien search before putting the property out on MLS. Even worse is when significant improvements were done without any attempt at permitting whatsoever. Discovering this may not come from a municipal lien search since there is no permit to have failed to close out. Yet, many of you know that suspicious feeling when you see do-it-yourself “family rooms” coming from patio or garage conversions; or most concerning, under a stilt home in a flood zone area. Some areas are also known for their many illegal “additions” or rear yard shed conversions into “granny flats”. You need to press the seller on the permitting history behind such improvements, although often you’ll hear it was a previous owner who pursued the construction. This

may justify some research through the local building department or property appraiser to avoid listing a problem in the making. Computer cross-referencing amongst records previously unmatched is causing more and more of these permitting problems to arise. Concurrently, more aggressive code enforcement inspections are also uncovering many of the improvements never permitted. As REALTORS®,

BY MICHAEL L. PETERSON, ESQ. GTR Governmental Affairs Consultant

you need to be cautious to avoid having buyers later claim you “knew or should have known” of permitting problems with property you listed and sold to them. Be careful out there.

New Rental requirements for Hillsborough REALTORS® REALTORS® may not think of themselves as “lobbyists”, but if meeting with senior officials of Hillsborough County or City of Tampa government on behalf of a client they will receive compensation from,

they are. Commission for a sale of property you met with officials about is just such compensation qualifying you as a lobbyist under revised lobbying ordinances for both Tampa and Hillsborough County. You

might not regularly meet with Council members, the Mayor, County Commissioners or their Administrator, but property problems often lead to meetings with department directors, assistant administrators, or assistant attorneys which also require registration and sign-in as a lobbyist. Fortunately, the City of Tampa ordinance now resembles Hillsborough County’s and they are trying to integrate their registration, sign-in and reporting systems. Whether entirely successful or not, a look at the new Hillsborough

County system will foretell most of what you can expect from Tampa’s rollout soon. Hillsborough County’s primary lobbying portal is http://lobbyist.hillsboroughcounty.org where you can read the ordinance, register, and review the user guide. Sign-in kiosks will be available when you meet with senior officials at their offices, but you also have the option of web-based sign-in for covered meetings via http://meetinglog. hillsboroughcounty.org . Recent media attention on lobbying issues means these governments will no longer

be lax about these requirements. When in doubt, ask whomever you meet with if lobbyist disclosure is required. Another new registration requirement awaits REALTORS® dealing with residential rentals in the City of Tampa. Dubbed “Rent It Right Tampa”, the Residential Rental Registration Ordinance reflects a new registration process for residential “rental certificates” following related changes to ordinances regarding minimum housing standards and code enforcement. This annual registration/ RENTALS, Page 17

October 2016

Greater Tampa REALTOR® News

www.GTAR.org

MLS STATISTICS

AUGUST 2016

Monthly Market Detail - August 2016 Single Family Homes Hillsborough County

1,781

Closed Sales

491

-27.7%

$200,000

12.5%

Average Sale Price

$274,669

$244,079

12.5%

$489.2 Million

$401.8 Million

21.8%

97.6%

96.0%

1.7%

Median Time to Contract

28 Days

42 Days

-33.3%

Median Time to Sale

-12.6%

76 Days

87 Days

New Pending Sales

1,490

1,373

8.5%

New Listings

2,034

1,726

17.8%

Pending Inventory

2,237

2,246

-0.4%

Inventory (Active Listings)

5,178

5,274

-1.8%

Months Supply of Inventory

3.3

3.5

-5.7%

Closed Sales The number sales -transactions Monthly MarketofDetail August 2016which closed during the month Single Family Homes Economists' note : Closed Sales are one of the simplest—yet most Tampa-St. Petersburg-Clearwater MSA

important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we Summary recommend comparing the percent changes in sales rather thanStatistics the number of sales. Closed Sales (and many other market metrics) are Sales affected by seasonal cycles, so actual trends are moreClosed accurately represented by year-over-year changes (i.e. comparing a month's sales Paid in Cash to the amount of sales in the same month in the previous year), rather than changes from one month to the next. Median Sale Price

Month

Closed Sales

Percent Change Year-over-Year

August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 February 2016 August 2016 January 2016

1,781 1,774 1,893 1,815 1,718 1,623 1,296 August 2015 1,015 1,522 4,031 1,214

8.2% -0.5% 1.3% 14.4% 4.8% 3.0% 5.3% Percent Change 5.0% Year-over-Year 0.4% 7.7% -1.6%

1,516 1,374 1,499 $175,000 1,646

7.8% -19.2% 8.9% 19.4% 13.6%

$217,165

15.0% 2016

$875.4 Million

23.8%

December 2015 November 20154,340 October 2015 1,110 September 2015 August 2015$209,000 $249,764 2015

Average Sale Price 2014

2013

$1.1 Billion

Dollar Volume

1,500

Median Percent of Original List Price Received

1,000 500

97.0%

95.8%

1.3%

Median Time to Contract

28 Days

39 Days

-28.2%

Median Time to Sale

75 Days

83 Days

-9.6%

3,366

3,312

1.6%

4,973

4,272

16.4%

Pending Inventory

4,939

5,047

-2.1%

Inventory (Active Listings)

12,746

13,547

-5.9%

Months Supply of Inventory

3.3

3.6

-8.3%

Month

Closed Sales

Percent Change Year-over-Year

August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 February 2016 August 2016 January 2016

4,340 4,276 4,647 4,429 4,212 4,156 3,287 August 2015 2,710 3,900 443 3,056

7.7% -4.3% 0.0% 9.6% 3.8% 4.2% 4.9% Percent Change 7.4% Year-over-Year 2.3% 8.6% 0.3%

3,765 211 3,827 $120,000 4,031

4.3% 0.9% 11.3% 16.7% 13.4%

$146,849

17.5% 2016

$83.0 Million

$65.1 Million

27.5%

96.8%

95.1%

1.8%

Median Time to Contract

21 Days

41 Days

-48.8%

Median Time to Sale

67 Days

77 Days

-13.0%

430

439

-2.1%

Closed Sales The number sales -transactions Monthly MarketofDetail August 2016which closed during the month and Condos Townhouses Economists' County note : Closed Sales are one of the simplest—yet most Hillsborough

December 2015 November 2015481 October 2015 213 September 2015 August 2015$140,000 $172,503 2015

Average Sale Price 2014

2013

Dollar Volume

4,000

Median Percent of Original List Price Received

3,000 2,000 1,000

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.

549

New Listings

Data released on Thursday, September 22, 2016. Next data release is Thursday, October 20, 2016.

638

727

-12.2%

1,130

1,178

-4.1%

Months Supply of Inventory

2.5

2.7

-7.4%

Closed Sales

Month

Closed Sales

August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 important—indicators for the residential real estate market. When February 2016 comparing Closed Sales across markets of different sizes, we August 2016 January 2016 recommend comparing the percent changes in sales rather than the December 2015 number of sales. Closed Sales (and many other market metrics) are Closed Sales November 20151,629 affected by seasonal cycles, so actual trends are more accurately Traditional represented by year-over-year changes (i.e. comparing a month's sales October 2015 $232,900 Median Sale Price to the amount of sales in the same month in the previous year), rather September 2015

The number of sales transactions Monthly Distressed Market - Augustwhich 2016 closed during the month Single Family Homes Economists' County note : Closed Sales are one of the simplest—yet most Hillsborough

Closed Sales

2012

August 2015

Closed Sales

2013 Foreclosure/REO

500 400

2014 Median Sale Price Closed Sales

300

20.4%

Inventory (Active Listings)

Pending Inventory

than changes from one month to the next.

456

106

2015 $151,250 46

481 491 496 520 497 433 340 August 3322015 472 1,379 382 425 $216,126 491 443 197

-34.3%

200

Median Sale Price

100

$150,000

$134,000

11.9%

2013

2014

2015

paid fully in cash) each month involved some sort of financing, such as

The number of Closed Sales during in which mortgages, owner/seller financing, assumed the loans,month etc. buyers exclusively paid in cash

Economists' note :2012 Cash Sales can be a useful indicator of the extent 2014 to 2013 60% investors are participating in the market. Why? Investors are which far50% more likely to have the funds to purchase a home available up front, 40% whereas the typical homebuyer requires a mortgage or some other 30% of financing. There are, of course, many possible exceptions, so form 20% this statistic should be interpreted with care. 10% 0%

2,000

Data released100% on Thursday, September 22, 2016. Next data release is Thursday, October 20, 2016.

90%

2014

1,295 1,196 991 1,245 1,115 1,273 1,291 1,374

-12.4% 2016 -11.2% -9.7% -11.1% -6.0% -8.0% -4.5% 2.5%

2015

2016

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Economists' note : This statistic is simply another way of viewing paid fully in cash) each month involved some sort of financing, such as

The number of Closed Sales during in which mortgages, owner/seller financing, assumed the loans,month etc. buyers exclusively paid in cash

Economists' note :2012 Cash Sales can be a useful indicator of the extent 2014 to 2013 60% investors are participating in the market. Why? Investors are which 50% far more likely to have the funds to purchase a home available up front, 40% whereas the typical homebuyer requires a mortgage or some other 30% of financing. There are, of course, many possible exceptions, so form 20% this statistic should be interpreted with care. 10% 0%

400

August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 February 2016 Month January 2016 December 2015 August 2016 November July 2016 2015 October 2015 June 2016 September May 2016 2015 August 2015 April 2016 March 2016 February 2016 January 2016 December 2015 November 2015 October 2015 September 2015 August 2015

Percent of Closed Sales Paid in Cash

Percent Change Year-over-Year

25.6% 25.7% 25.2% 27.4% 30.0% 31.2% 36.4% Cash Sales 36.6%

-24.9% -24.2% -23.6% -21.9% -12.8% -15.9% -15.3% Percent Change -15.9% Year-over-Year -13.3% 0.9% -6.2% -13.9% -11.7% -17.2% -14.2% 3.0% -9.5% -16.7%

31.9% 213 36.5% 211 33.8% 216 33.7% 238 34.1% 215 2015

207 164 168 201 187 194 238 211

-17.2% 2016 -23.4% -2.9% -10.7% 8.1% -17.4% 3.9% -5.4%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

2012

2013

2014

2015

2016

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 300Thursday, September 22, 2016. Next data release is Thursday, October 20, 2016.

200 100 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Cash Sales as a Percentage of Closed Sales

Month

August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 February 2016 Economists' note : This statistic is simply another way of viewing August 2016 January 2016 Cash Sales. The remaining percentages of Closed Sales (i.e. those not December 2015 paid fully in cash) each month involved some sort of financing, such as Closed Sales November 2015441 mortgages, owner/seller financing, assumed loans,Traditional etc. October 2015 $146,500 Median Sale Price September 2015

The percentage Closed-Sales during Monthly DistressedofMarket August 2016the month which were Cash Sales Townhouses and Condos Hillsborough County

August 2015 Closed Sales 80%

2012

2013 Foreclosure/REO

2014 Median Sale Price

60%

Closed Sales

40%

2015 $92,500

Percent Change Year-over-Year

44.3% 43.0% 43.5% 45.8% 43.3% 47.8% 48.2% August 2015 50.6% 42.6% 360 49.0%

-6.9% -12.4% -12.1% -12.6% -18.9% -7.7% -14.8% Percent Change -12.9% Year-over-Year -17.6% 22.5% -4.5% -15.4% 12.7% -16.8%

45.6% $129,950 48.5% 47.6% 75

-7.6% -61.3%

$73,500

2016 25.9%

37.5%

$88,000

$100,037

-12.0%

Short Sale Median Sale Price

20% 0%

Percent of Closed Sales Paid in Cash

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

2012

2013

2014

2015

2016

Produced by Florida REALTORS® with data provided by Florida's Traditional multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Foreclosure/REO Short Sale Data released100% on Thursday, September 22, 2016. Next data release is Thursday, October 20, 2016.

90%

Closed Sales

60% 50% 40% 30% 20% 10% 0%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

$160,000

$300,000

$140,000

$250,000

le Price

$120,000

le Price

2013

Cash Sales Cash Sales. The remaining percentages of Closed Sales (i.e. those not

10%

$200,000

2012

The percentage of Closed Sales during the month Monthly Market Detail - August 2016 which wereand Cash Sales Townhouses Condos Hillsborough County

20% 0%

27.1% 1,110 27.1% 1,101 25.8% 1,171 26.6% 1,212 29.8% 1,263

-33.2% -25.1% -28.8% -25.3% -17.5% -14.6% -24.2% Percent Change -22.3% Year-over-Year -10.0% -19.2% -17.9% -27.3% -22.1% -23.7% -18.2% -14.6% -4.8% -9.6%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Cash Sales as a Percentage of Closed Sales

70%

30%

2015

Percent Change Year-over-Year

19.9% 20.9% 18.8% 20.7% 23.6% 25.2% 26.9% Cash Sales 29.2%

500

80%

40%

March 2016 February 2016 January 2016 December 2015 November 2015 October 2015 September 2015 August 2015

Percent of Closed Sales Paid in Cash

1,000

70% 50%

Data released on Thursday, September 22, 2016. Next data release is Thursday, October 20, 2016. 1,500

80% 60%

2016

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.

2016

Closed Sales

Economists' note : This statistic is simply another way of viewing

Cash Sales Cash Sales. The remaining percentages of Closed Sales (i.e. those not

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

2012

2015

Month

The percentage of Closed Sales during the month Monthly Market Detail - August 2016 whichFamily were Cash Sales Single Homes Tampa-St. Petersburg-Clearwater MSA

-2.5% 7.8% 24.9% 2.3% -46.2%

Short Sale

-27.7% -25.5% -27.8% -14.6% -13.2% -12.0% -20.4% -18.7% -9.6% -19.2% -15.9% -11.0% 8.4%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Cash Sales as a Percentage of Closed Sales

8.6% -1.6% -5.9% 17.9% 2.9% -10.4% -10.1% Percent Change 11.4% Year-over-Year 8.5% 18.1% 13.4%

2016 21.0%

2014

Percent Change Year-over-Year

355 371 356 375 406 409 348 296 413 329 391 398 491

200 0

Percent Change Year-over-Year

$125,000

2013

Cash Sales

400

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

New Pending Sales

2012

August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 February 2016 January 2016 December 2015 November 2015 October 2015 September 2015 August 2015

600

Cash Sales

Closed Sales

5,000

800

Cash Sales

New Listings

Data released on Thursday, September 22, 2016. Next data release is Thursday, October 20, 2016.

600

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.

Pct. of Closed Sales Paid in Cash

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.

Month

The number of Closed Sales during the month in which buyers exclusively paid in cash

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

New Pending Sales

Cash Sales

Pct. of Closed Sales Paid in Cash

Closed Sales

8.2%

355

Median Percent of Original List Price Received

1,646

$225,000

Dollar Volume

2012

Percent Change Year-over-Year

Median Sale Price

Paid in Cash

2,000

August 2015

Cash Sales

August 2016

Pct. of Closed Sales Paid in Cash

Summary Statistics

$100,000

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

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Greater Tampa REALTOR® News

October 2016

Should millennials delay ownership Question: I want to get married, buy a house and hit other adult milestones in my 20s and 30s, but my student loan debt is holding me back. Should I put off other goals while I repay my student loans? Answer: Feeling stymied by student loans is becoming a defining part of being a 20- or 30-something. The numbers are stacked against us: College is more expensive, we're taking on more debt to afford it, and it's harder for us to repay the money we borrow. According to the College Board, the average public four-year college's net price – the amount you pay for tuition, fees, room and board after accounting for scholarships, grants and tax benefits – jumped from $9,940 a year to $13,320 from 2003-04 to 2013-14. Not surprisingly, the average amount of student loan debt at graduation went up 56 percent between 2004 and 2014, the Institute for College Access & Success reports. Meanwhile, the median household income fell 6.5 percent between 2007, the year before the recession hit, and 2014, according to the U.S. Census Bureau. Your concerns are real, and don't let anybody tell you that you just shouldn't have taken out student loans, or that you should have chosen a more lucrative major when you were 18 and couldn't plan past your next meal. But there are ways to make your student loan payments more manageable so you can afford a wedding, a downpayment and other trappings of adulthood. You can also recast your expectations of what you're supposed to achieve in your 20s and 30s to lessen that feeling of falling behind. Lower your student loan payment Affording your student loan bills should be your priority because the con-

sequences of default can be severe. When you default, the government, for instance, has the power to withhold your pay or seize your tax refunds to collect your unpaid federal loan debt. If you're having trouble making your payment, switch to an income-driven repayment plan. These options can reduce your monthly student loan bill to 10 percent or 15 percent of your income. Check whether you're eligible for student loan forgiveness, too: Public Service Loan Forgiveness will make your remaining loan balance disappear after 120 on-time payments if you work for a nonprofit or government agency. Refinancing can also help you manage your student loans. A private lender will pay off your current debt and issue you a new loan at a lower interest rate. You must qualify based on your income, credit score and job history, so it's best for those who aren't in danger of falling behind on payments. You'll also lose certain benefits if you refinance your federal loans. Set your own expectations Before you lament the cushy lifestyle your loans robbed from you, remember that those loans helped get you a college education. A degree earns 25- to 34-year-olds an extra $20,000 a year on average compared with those with a high school education, according to the National Center for Education Statistics. Yes, you might hit those classic adult milestones later – but you'll still hit them. Starting about age 27, homeownership rates are higher among those who took on debt to go to college than those who didn't go to college at all, according to a recent report by Susan M. Dynarski, a senior fellow at the MILLENIALS, Page 17

Recommended Candidates The following candidates are proudly recommended when voting in the November 8 General Election. National Association of REALTORS® Recommendations • US Senator – Marco Rubio • US Representative, District 12 – Gus Bilirakis • US Representative, District 14 – Kathy Castor • US Representative, District 15 – Dennis Ross • US Representative, District 16 – Vern Buchanan

Florida REALTORS® Recommendations • Florida Senate, District 18 – Dana Young • Florida Senate, District 19 – Darryl Rouson • Florida House of Representative, District 58 – Daniel Raulerson • Florida House of Representative, District 59 – Ross Spano • Florida House of Representative, District 60 – David Singer • Florida House of Representative, District 63 – Shawn Harrison • Florida House of Representative, District 70 – Wengay “Newt” Newton

Greater Tampa REALTORS® Recommendations • State Attorney, Circuit 13 – Mark Ober • Hillsborough County Clerk of Circuit Court - Pat Frank • Hillsborough County Property Appraiser - Bob Henriquez • Hillsborough County Commissioner, District 1 – Sandra Murman • Circuit Judge, 13th Judicial Circuit Group 24 – Melissa Polo • Hillsborough County School Board Member, District 5 – Joe Jordon-Robinson • Hillsborough County School Board Member, District 7 – Lynn Gray • Temple Terrace City Council – Frank Chillura

October 2016

Greater Tampa REALTOR® News

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AFFILIATE BUSINESS PARTNERS

Affiliates Say Thanks! Thank you to the Greater Tampa REALTORS® Board of Directors and members for giving the Affiliates more bang for our buck! The 2016 Board and current president Andy Joe Scaglione have made it their mission to give back to the affiliates for all we do! There are new tiered Affiliate membership levels which give us more ben-

efits than previous years. One benefit is we get to have an additional person listed in our membership. We also have a new membership directory, powered by RAMCO, that includes our business for easier access to our information and a more prominent place on the website. There will also be a printed Affiliate directory going

Getting to Know your Affiliate Members Our October Affiliate Business Partner spotlight is Julie Rinaldi with IERNA’s Heating, Cooling & Plumbing IERNA’s Heating, Cooling & Plumbing, a family owned and operated air conditioning company, got its official start in the summer of 2003. The companies’ humble beginnings took place in the back of owners, Ron & Charlene Ierna’s, Lutz/Land O' Lakes home, with a spare bedroom becoming their office. June of 2016, marked the company's 13th year. They’ve grown from a simple husband and wife team, to now employ nearly 70 full-time and eight part-time employees. IERNA’s fleet contains over 35 vehicles, helping to ensure prompt, professional and courteous service to all of their customers within the Pasco, Hernando, Hillsborough, Polk and Pinellas counties. We are excited to have our Community Relations Representative, Julie Rinaldi, as our liaison at Great Tampa Realtors. A significant component of IERNA’s business model is their commitment to Pay it forward. Visit their Facebook page to see all of the fun things IERNA’s is involved in at Facebook.com/IernaAir or visit www. IernaAir.com for additional information on IERNA’s Heating & Cooling. Or call our office at 813-948-6355.

out to all REALTORS® at the beginning of the year. Hey Affiliates: make sure your information is correct in the system to ensure a proper listing. We have the ability to sponsor events, rent rooms at the Association and serve on committees! All current Affiliate members are grandfathered in to the original price ($200) and

we are now considered Bronze members. There are 6 Silver ($5,000) and 3 ($10,000) Gold level memberships available at a first come, first served basis. If you are interested in learning more about these levels, you can contact Meredith Bellanca, GTR's Customer Service & Affiliate Relations Manager at Meredith@ gtar.net or 813-769-7184

BY FRANCINE VILLA Affiliates Business Partners Chair Affiliates work hard to support the REALTORS® Care Foundation of GTR, who is working hard to help local first-time homebuyers, what a great TEAM!

Look for the Affiliate Update e-newsletters for upcoming sponsorship opportunities.

Visit & Like our Facebook Page: facebook.com/GTRAffiliates

Welcome to our Newest Affiliate Members Caliber Home Loans Lenna Ellerbee Andrea's Cleaning Services Emilio Filerino Andrea Mcloughlin Watts, Dawson & Associates, Inc. Shelly Levine American Bancshares Mortgage Katherine Luke First Class Moving Systems Inc. Christopher Shinham SPS Home Inspections LLC. Scott P Surridge 1 Hour Air Conditioning and Heating Caleb Suszko

www.GTAR.org

Rentals From Page 13

rental certificate process only applies to rentals of 1 – 4 units under roof (single family – quadraplexes) as larger clusters of units are governed under superseding state law. There is no additional fee for this certificate authorizing rental use, although the registration is aligned with the annual business tax process that has not changed. Failure to annually register, keep information updated, or pass occasional inspections can result in

sanctions and loss of rental certificate authorizing rental use. Online registration is available via www. tampagov.net/rentalcert, as well as links to corresponding ordinances and forms you can use. Note the new “Tenant Information Form” which allows an owner/landlord to identify which maintenance obligations are attributable to the Tenant per the lease. This can initially make the Tenant primarily liable for code enforcement action,

Greater Tampa REALTOR® News

although ultimately that responsibility can return to the Landlord upon failure to get compliance through the Tenant. Still, this is a hard-won feature allowing focus on a troubling tenant and time for eviction efforts to commence before a landlord is facing fines and accruing violations to characterize them as a “Chronic Violator”. Better safe than sorry with these new requirements that will apply to many of our current GTR membership and their clients. These websites should make compliance much easier for you.

October 2016

Millenials From Page 15

Brookings Institution and a professor at the University of Michigan. Keep in mind, too, that buying a house isn't the ultimate sign you're an adult, and putting it off doesn't make you a failure. Helen Ngo, a certified financial planner and principal at Capital Benchmark Partners in Atlanta, says her 20- and 30-something clients who recently graduated with medical, law and other graduate debt aren't

eager to buy homes. "Most of them just want to make money and pay off debt and travel," she says. Is that such a problem? Given the chance, I know you'd get rid of your student loans tomorrow; I would, too. But if they got you a degree, they were probably worth it. Work them into your budget, plan for the future anyway, and know that you don't have to meet anyone's expectations but your own.

MY FLORIDA REGIONAL MLS CALENDAR MLS BASIC OCTOBER 18 • 9AM-12PM OCTOBER 25 • 9AM-12PM This course gives new MFRMLS participants and subscribers a basic overview of MFR products and services, along with a general tour of how the various functions of Matrix will benefit them in their real estate business. Navigation and basic functionality such as searching, utilizing map tools, reading a broker synopsis, adding and managing contacts, saving searches and setting up auto emails will be covered. MLS COMPLIANCE 101 OCTOBER 18 • 1PM-2:30PM OCTOBER 25 • 1PM-2:30PM This is a mandatory class for all new members to be completed within 60 days of joining. Existing members must complete the class every two year period. In this class you will 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. MLS ADDING AND EDITING LISTINGS OCTOBER 18 • 3PM-4:30PM OCTOBER 25 • 3PM-4:30PM This class is mandatory if you will be adding and modifying listings in the MLS (but all agents are welcome to attend!). This class offers a comprehensive overview of the process to properly add a listing to the MLS and walks through each part of the add/edit tab in Matrix. The class also covers how to edit listings, change the status on listings, and add photos, attachments, and open house information.

Saturday, October 22 9AM-3PM MacDugal Park

(1211 E. Sligh Ave.) The Young Professionals Network invites you to join us for a fun day of networking and kickball! Do you have what it takes to win this year’s trophy and bragging rights? Join a team or build your own. The cost per person is $15, which includes your spot on a team of 8-12 players, a t-shirt, and a meal ticket. For more information, please email mike@gtar.net.

Business Resource Meeting "Using Video for a Perfect Business Pitch” GUEST SPEAKER:

Pilar Ortiz

"How to Look Outstanding on Video” Know What to Say, Sell More, Get Results and Even Like Yourself on Camera!

Thursday, October 20, 2016 Program: 11:30 a.m. - 1:45 p.m.

Maggiano’s Little Italy

203 Westshore Plaza • Tampa, FL 33609

Cost: $25. Register online at www.WCRTampa.com

October 2016

Greater Tampa REALTOR® News

www.GTAR.org

CANDID CAMERA FLORIDA REALTORS® AUGUST 24-28, 2016 2016 CONVENTION & TRADE EXPO

AFFORDABLE HOUSING COMMITTEE

SEPTEMBER 17, 2016

BUILDING COMMUNITY THROUGH HOMEOWNERSHIP

Our Board of Directors held their monthly meeting at the Nick Capitano Boy's & Girl's Club. Joe Capitano and Jason Guerra gave the Board a tour of the facility and more information about the surrounding community.

ATTENTION BROKERS! www.GTAR.org

Greater Tampa REALTOR® News

October 2016

GREAT DEALS ON MOVE-IN READY HOMES N O W AVA I L A B L E

ARTIST’S CONCEPT

multi-million-dollar entry welcomes you home

3% Commission & $5,000 Broker Bonus Paid Upfront!

the CHANDON

4 BR, 3 BA, $361,900

For a Limited time

Your client’s dream home is right around the corner at the Ridge at Wiregrass Ranch. Stop in today to see the best selection of quick delivery homes available. Ranging in size from 1,913 to more than 5,200 square feet of living space, the impressive selection of homes includes remarkable interior and exterior features, gourmet kitchens and amazing amenities.

THE JULIA GRANDE

3 BR, 3.5 BA, $418,900

Plus, our desirable location is close to great shopping, dining and top-rated elementary, middle and high schools. from I-75 north or south, take state road 56 east for 5 miles. the ridge is on your right. Open Daily 10 am - 6 pm. 30451 Sunland Court Wesley Chapel, FL 33543

incredible amenities

Single-Family Homes in Wesley Chapel/New Tampa from the $300’s to the $700’s • ( 8 0 0 ) 6 1 7 - 2 3 7 7 Broker must accompany client during client’s initial visit to this community. Both the client and Broker must execute the Developer’s Registration Form on the initial visit. Broker must also execute the Developer’s Broker Participation Agreement. The Ridge at Wiregrass is being developed and sold by Pasco County Associates II, LLLP. *$5,000 paid upfront when all contingencies are met. Broker bonus commission subject to change without notice. See your sales associate for details. Subject to change without notice. ©2016 9600-009 7-6-16

9600-009 GTAR August 2016.indd 1

7/7/16 11:48 AM

October 2016

Greater Tampa REALTOR® News

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When your clients find a RED TAG on select Lennar homes they’ll get locked in at UAMC’s lowest rates!

Plus We Pay Closing Costs+

That’s a savings of up to $15K! +Financing available to qualified borrowers through Universal American Mortgage Company, LLC

Spring Hill RED TAG Homes Starting from the Upper $100s in over 40 communities 41

Briar Oaks

County Line Road

Lakeside

Pasco

way Suncoast Park

Verandahs Town Estates

301

W S

Land O’ Lakes

Wesley Chapel

Connerton

Wiregrass Ranch

Bexley Terra Bella

Polk

54 Union Park

56 Concord Station

301

Hidden Oaks

Sleepy Hill Rd

Trinity Lakes Trinity Preserve

Bearss 589

Pinellas

Bruce B. Downs

275

4 39

Hillsborough 4

Riverview Lakes

Chelsea Oaks

La Collina

Brandon

Riverview

Fern Hill

Summerfield

Waterset

Sereno

Hawks Landing Hawks Point

Ruskin 75

Riverbend West 41

Big Bend Rd

South Fork

Belmont

Apollo Beach

Ballentrae Ba

w rvie ive -R lm

St. Petersburg

Enclave at Boyette

Waterleaf R d

672

Shady Creek Ayersworth Cypress Creek

301

Vista Palms

Preserve at Riverview Boyette Rd

Tampa Bay

Little Harbor

570

Plant City

Lumsden Rd

Sunshine Skyway Bridge

Lakeland

275

New Tampa

Tampa

Veterans Expy

Clearwater

d Blv ity n i r T

San Antonio

Bexley Bexley Coming Soon!

Little Rd

674

Sun City Center

Need more information? Call us at 877-204-0746. Check out all available inventory at LennarTampa.com Ellenton

Bradenton

*+Offers apply to purchase agreements fully executed between 08/27/2016 and 09/25/16. Purchase agreements fully executed prior to 08/27/16 are excluded. Closing must occur and fund no later than 10/10/2016. Offer good for a limited time only. Lennar reserves the right to change or withdraw any offer at any time. Prices subject to change without notice. Offer is subject to borrower meeting approval guidelines. Interest rates could vary or change without notice. Specific terms apply and buyer is subject to qualifications that include, but are not limited to, a minimum of 3.5% down, a minimum credit score of 660, owner occupancy requirements and/or any changes in investor guidelines or programs. Limited funds are available; rate(s) may change or not be available at the time of loan commitment, lock-in or closing if funds are exhausted. Loan amount cannot exceed county maximums as established by FHA. +At closing, seller shall provide to purchaser a credit in an amount not to exceed $15,000 as determined on your Loan Estimate, excluding prepaids, subject to seller contribution limits, certain terms, conditions and restrictions. Offer available only to qualified buyers financing through Universal American Mortgage Company and closing at designated closing agent. Offer may affect maximum loan amount. Contact a Loan Officer or a New Home Consultant for details. Financing through Universal American Mortgage Company, LLC - Mortgage Lender/Servicer License #MLD549, NMLS # 1058. Lennar makes no guarantee of present or future market conditions. You should consult your own accounting, legal and tax advisors to evaluate the risks, consequences and suitability of any real estate transaction. Lennar Homes, LLC (“Lennar”), North American Title (“NAT”) and Universal American Mortgage Company, LLC (“UAMC”) have business relationships with each other. Lennar, NAT and UAMC are, directly or indirectly, wholly owned by Lennar Corporation. You are NOT required to use UAMC or NAT as a condition for purchase of a Lennar home. You are free to shop around to determine that you are receiving the best services and the best rate for these services. For additional information please visit their websites www.uamc.com, www.nat.com and www.Lennar.com. Please see a New Home Consultant and actual home purchase agreement for pricing and features designated as an Everything’s Included® feature, additional information, disclosures and disclaimers related to the home and its features. †The information from Builder 100 is used or reprinted with permission from Hanley Wood Media, Inc. Void Where Prohibited By Law. Copyright © 2016 Lennar Corporation and Universal American Mortgage Company, LLC. All Rights Reserved. Lennar, the Lennar logo, Everything’s Included, Everything’s Included logo, Knowology and the Knowology logo, UAMC and the UAMC logo are registered service marks or service marks of Lennar Corporation and/or its subsidiaries. CGC1518166. (09/16)