Sarasota Realtor Magazine - January 2013 by REALTOR® Association of Sarasota and Manatee

JANUARY 2013

The Official Monthly Publication of the Sarasota Association of Realtors速

Raising the Bar

2013 SAR President Roger Piro Leads the Association Into New Era of Success Page 6

2013 SAR Dues Are Now Due - See Page 14

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Contents

Sarasota Realtor® Magazine Volume 10, Issue 1 JANUARY 2013

Sarasota Association of Realtors®, Inc. 3590 South Tuttle Avenue Sarasota, Florida 34239 Phone: 941/923-2315 FAX: 941/923-0191 www.sarasotarealtors.com www.facebook.com/SarasotaRealtors

Raising the Bar

2013 SAR President Roger Piro emphasizes the need to always strive to raise your standards and performance to a higher level in order to achieve excellence in the real estate profession.

Governmental Affairs Director Marc Mansfield explains the state’s legislative process, and how ideas become bills, and then are adopted as Florida laws.

Disabled veterans and active duty service members will gain a break on property taxes in 2013 thanks to changes in the state law.

15 Strong Sales Continue Volume 10 • Issue 1 •JANUARY 2013

Property sales in November 2012 in the Sarasota market rose by more than 29 percent compared to last year at this time, and 2012 is on track to be the fourth highest sales year in history.

18 Ready for Great Year

Secretary Xena Vallone Xena Vallone Realty Treasurer Stafford Starcher RE/MAX Alliance Group Immediate Past President Laura Benson Michael Saunders & Company

12 New Benefits

President Roger Piro Town & Country Realty President-Elect Peter Crowley RE/MAX Alliance Group

10 Bills and Laws

2013 SAR Officers

Chief Executive Officer Kathy Roberts Mission Statement The mission of the Sarasota Association of ® Realtors is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics. We are committed to be the leading advocate of real estate in the communities we serve by protecting private property rights and expanding relationships with individuals and organizations both locally and worldwide. Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc.

Editorial Staff Director of Communications Ray Porter

CID President Linda Emery takes the leadership role for this year’s Commercial Investment Division, and looks forward to an amazing year.

Director of Membership and Administrative Services Dan Andrews Director of Information Technology Jesse Sunday Director of Professional Development Catherine McCaskill

In every issue

Governmental Affairs Director Marc Mansfield Production Coastal Printing, Inc.

10- Governmental Affairs 12- Property Appraiser

Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 or ray@sarasotarealtors.com.

15- Sales and Listing Statistics 18- Commercial Investment Division 20- Education Programs 24- On the SAR Scene 30- Membership 32- Calendar of Events/Education Note: The Medallion Home Advertisement in the December 2012 issue was published in error. JANUARY 2013

Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24!

On the Cover:

2013 SAR President Roger Piro stands on the portico roof at the entrance of the new SAR headquarters building, scheduled for completion in March 2013. Sarasota Realtor® Magazine

Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor ® magazine. A yearly subscription for Sarasota Realtor ® magazine is available to non-members for $25, plus Florida sales tax. Editorial ideas and manuscripts are welcome. Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing. 2013 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

www.sarasotarealtors.com

Travel the SAR Path to Leadership

SAR members are cordially invited to “test drive” the 2013 Emerging Leaders Program on Wednesday, Jan. 16, 2013 from 9-11 a.m. at the main auditorium. The “Travel the Leadership Path” program offers an outstanding panel of area real estate leaders who will tell you about the rewards of getting involved with your local association, and how far the leadership path can take you. Panel members include: Laura Benson, Michael Saunders & Company David Clapp, RE/MAX Alliance Group (moderator) Anthony Homer, Ian Black Real Estate LLC Pat Neal, Neal Communities Christina Pitchford, Allen Real Estate Services, Inc. Jim Toale, Bowman, George, Scheb & Toale, P.A. Benefits include: Vision - Gain new insight into the organization’s goals and aspirations; Collaboration Increase your effectiveness when working with peers and staff; Commitment - Discover how you can contribute to the success of the organization; Networking - You will be introduced to the leadership and workings of local organizations.

Amanda Meddaugh: SAR Affiliate of Month

Amanda Meddaugh, new publisher of The Real Estate Book, has been named SAR Affiliate of the Month for January 2013. Amanda moved to the Sarasota area from Fishkill, NY in 1993. Prior to The Real Estate Book, Amanda worked several years with a real estate title company in Venice, coordinating closings between Realtors®, lenders, affiliates, buyers and sellers. Amanda looks forward to assisting you with your real estate marketing plans and Amanda Meddaugh demonstrating how The Real Estate Book multi-media marketing plan can help you grow your business. The Real Estate Book is the largest and most popular real estate advertising publication in North America, combining print, web, mobile, social, direct mail, and email into fully integrated and customized plans. Amanda can be reached at 941-716-1206, or by Email: RealEstateBookSarasota@gmail.com

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Cover Story 6

Raising the Bar

SAR President Roger Piro encourages excellence exemplary education department “Raising the Bar” is the 2013 theme and course offerings, but we can still for the Sarasota Association of Realtors® try to improve.” and newly installed President Roger Piro. It’s an appropriate and logical directive Increasing awareness of Realtor® for the association, as literally thousands issues is also extremely important, of physical bars have been raised and put Piro noted. in place at the new SAR headquarters, “This is going to be an incredibly under construction at the northwest important year for us, as our corner of Cattlemen Road and Colonial government officials try to figure Oaks Boulevard. out where they are going to come Of course, “raising the bar” has an up with additional revenues needed even more appropriate meaning for the to fill the current budget shortfalls,” thousands of SAR members, tasked said Piro. “There has been a lot of with serving the real estate needs of talk about the mortgage interest buyers and sellers all across the Sarasota, deduction. It will definitely be on Florida region, and beyond. In these the chopping block and very well complicated and often confusing times, may be modified in some way. We it is imperative in the buying or selling need to be diligent in our efforts process to have the competent, educated to protect this deduction and the Roger Piro and professional guidance of a trained benefits of homeownership as a Realtor®. whole.” “Looking ahead, this is ‘You have my personal commitment to do Improving communication going to be another very my best to increase the opportunities for will also be a major part of exciting year,” said 2013 SAR’s directive in 2013. everyone in our association and to better SAR President Roger Piro. “We are also going to “Our incoming leadership our vocation. I am confident this will be a strive to make our general team intends to ‘Raise the prosperous year for all of us.’ communication with our Bar’ yet again. A couple members and the public SAR President Roger Piro of months ago we held a more effective,” said Piro. “In planning retreat and the order to accomplish this goal we are going to launch leadership team came up with a very comprehensive our new consumer facing website. We are going to plan to move our association forward.” increase our Facebook presence, and reevaluate some One area of interest is improving the ethics education of the current ways we are communicating and the of SAR members. “In keeping with the celebration content of that communication.” of the 100th anniversary of NAR’s Code of Ethics, Piro noted that the Sarasota Association of Realtors® one of the things we intend to do is to work hard to took a giant step into the future on July 11th, 2012 raise the professionalism of all of our members. We by breaking ground for construction of a new, stateare going to do this by asking brokers and managers of-the-art headquarters facility. The building is located to get more involved, by offering forums and sending at 2320 Cattlemen Road, the northwest corner of e-blasts directly to them with pertinent issues they can Cattlemen Road and Colonial Oaks Boulevard. An disseminate to their agents,” Piro noted. April 2013 move-in is expected. Education is certainly a key component of “raising The association has been at its current location at the bar.” 3590 South Tuttle Ave. for over 30 years, and has been “We are also enhancing our educational offerings by actively seeking a new facility the last few years. The adding additional programs on technology, property new facility will be about 2,500 square feet larger, will management, and other critical areas,” said Piro. have more than double the parking space of the current “When I attend the state and national conventions and other conferences, it is very evident that we have an Continued on P. 8, See PIRO

JANUARY 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Roger Piro has led SAR’s Facility Task Force in the new headquarter’s project. Also on the Task Force are: Jag Grewal; Brian McCrone; Tim Mapp; Lloyd Robbins; and Stafford Starcher. This group has worked tirelessly for months.

The 2013 SAR and CID Board of Directors and Officers are sworn in by John Fridlington, CEO of the Florida Realtors® organization, at the Annual Holiday Luncheon and Installation held on Dec. 5th at Michael’s on East. www.sarasotarealtors.com

Sarasota Realtor® Magazine

JANUARY 2013

Did you miss mandatory Code of Ethics training? The Code of Ethics is central to the Realtor® organization – so essential, in fact, that the National Association of Realtors® (NAR) has mandated that all Realtors® complete a 2.5-hour training every four years as a condition of membership. The current 4-year Cycle (Cycle 3) ended on Dec. 31, 2012. If you have not completed ethics training your Realtor® membership and related services, including MLS, have been suspended until you are in compliance. If you are not sure when you last took the Code of Ethics, please call Catherine McCaskill at 941-328-1167. If you still need to complete the Code of Ethics, you have four training options: Live classroom instructor (SAR members free) at SAR on the following dates (registration required):

PIRO

From Page 6 facility, and is located in an accessible spot near Interstate 75, Bee Ridge, Bahia Vista, Webber, and Cattlemen Roads. The new, 15,000 square foot facility, will contain offices for a staff of 12, a tech training center, meeting rooms, and a large conference room that can be split into three sections. SAR will be seeking basic LEED certification. LEED, or Leadership in Energy and Environmental Design, is redefining the way we think about the places where we live, work and learn. As an internationally recognized mark of excellence, LEED provides building owners and operators with a framework for identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions. “When Mike Bruno (2011 SAR President) asked me to chair our latest facility task force, I naturally said yes, but I had no clue how much time this endeavor would actually end up requiring. A new building had been something our leadership had started planning and budgeting for since the 1980’s,” said Piro. “I am very proud to have been a part in making our new building a reality. I also want to thank the entire task force, and specifically Secretary Stafford Starcher, and President Laura Benson. It was truly a team effort and would not have been possible if we did not all work hard together. I would also like to personally thank (SAR CEO) Kathy Roberts for all the blood, sweat, and tears she has poured into this project.” Originally from Cleveland Ohio, Roger Piro moved to Sarasota in 1979. Becoming a licensed salesman in 1994, he joined the Sarasota Board of Realtors® (now SAR) and began his involvement on many different committees.

JANUARY 2013

- Wednesday, Jan. 2, 9 a.m. to Noon, or 1-4 pm - Monday, Jan. 14, 1-4 pm NAR Online class (free) visit http://www.realtor.org/ code-of-ethics/training/for-existing-members (short test required at end of course). NAR will notify SAR within ten days that you have completed the course. Online class with CE (3 hours $15; or 4 hours $20) through SAR’s website (Education tab). Visit the SAR web site - www.sarasotarealtors.com - to view the options and sign up. (short test required at end of course) DVD: A high-quality video with professional actors is available for brokers or office managers to check out from SAR to hold training in their office, certifying attendance of agents who attend the training. Please call SAR at 941-923-2315 if you have questions. He originally specialized in residential real estate, rising to become an award-winning sales associate. He later stepped into a management position and has been involved with educating and mentoring many agents, leading them to more productive careers. It was also during this time that his leadership abilities became apparent. In 2003, he became a broker-associate, and has been the Broker for Town and Country Real Estate for over 6 years. Piro has since served on the SAR board of directors and the Florida Realtors®’ Board of Directors. He is also the past chair and former member of the Grievance Committee, Professional Standards Committee, Finance Committee, and Facility Task Force. In past years he has also served on the SAR Membership Committee, Professional Development Committee, Realtor® Attorney Committee, and Nominating Committee. In 2012, Piro served on the Professional Standards Committee, Nominating Committee, and Finance Committee, and he now assumes the 2013 presidency. “We have put a lot on our plate, but together we can achieve all of these goals and more,” said Piro. “I know our dedicated SAR staff and the 2013 leadership team are committed to accomplishing the necessary tasks. There is never a point where our great association can say everything is complete. We are always striving to make progress and to make our association even better, for all of our members.” In SAR’s 90th anniversary year, Piro noted the organization has never been stronger, or more active in the local community. “I look forward to working on your behalf, with this incredible team of people, and am truly honored to have this wonderful opportunity,” he noted. “You have my personal commitment to do my best to increase the opportunities for everyone in our association and to better our vocation. I am confident this will be a prosperous year for all of us.”

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Governmental Affairs 10

How does an idea become a law?

The 2013 Florida Legislative Session begins on March 5, 2013 and ends on May 3, 2013. During that time there will be numerous “bills” that will be introduced in both the House and Senate. Some of those bills will become law, however many simply die for lack of support. If you have ever wondered how a simple “idea” becomes a “bill” and ultimately a “law” please see the summary below courtesy of the Florida House of Representatives: Idea: A citizen, group or legislator has an idea for a new law. A Representative then decides the idea should become a bill. House Bill Drafted: The Representative (also called a member) contacts House Bill Drafting Services and requests a bill be drafted. A staff member called a “bill drafter” will work with the member and his or her staff until the member is satisfied and a final draft is approved. The idea receives a bill number (odd numbers in the House) and is called a “bill” for the first time. First Reading is by Publication in the House Journal: According to the Florida Constitution, all bills must be read three times before being voted on. The first reading is by publication of the bill number, its sponsor and a short one paragraph description of the bill in the House Journal. The Speaker will then refer the bill to one or more committees in the House. House Committee or Subcommittee Meeting: Once referred to committee, the bill is reviewed for inclusion on an agenda. The Chair of the committee will decide which bills should be heard. Once a bill has been heard and voted favorably by all of its committees and subcommittees it is placed on the House Calendar for 2nd reading. Second Reading on the Floor is by consideration of the Special Order Calendar: The House Rules & Calendar Committee determines when and if a bill

JANUARY 2013

is read for the second time. If approved, the bill is introduced, explained and questions are answered about the bill and any amendments being considered. This constitutes a bill’s Second Reading. Third Reading on the House Floor by Consideration of the Third Reading Calendar: Once a bill’s title has been read a third time, it is explained again, questions are permitted and amendments may be filed if approved by a 2/3 vote. The bill is then voted on by the members of the House. Any bill not receiving a favorable vote “dies” on the floor. Senate Consideration: A bill passed by the House is sent to the Senate with a “message.” The Senate process is slightly different than the house. The Senate may vote to pass the bill without amendments and return it to the House. It may be referred to a committee for consideration, or defeat the bill on the Senate floor, or the Senate may amend the bill and pass it and return it to the House. Return to the House: A House bill passed by the Senate without amendments is called an “enrolled version” and is sent to the Governor for consideration. If the Senate has made amendments it is returned to the House for further consideration. This back and forth continues until both the Senate and House agree on the bill. If the House and the Senate fail to reach a compromise, the bill dies. Consideration by the Governor: When the Legislature is in session and has sent the Governor a bill, the Governor has seven days to consider the bill. If the bill is received after the Legislature has adjourned, the Governor has 15 days to consider the bill. The Governor may sign the bill into law, allow the bill to become law without a signature or the Governor may veto the bill. If the bill is vetoed, the Legislature may override the veto by a 2/3 vote during the next session.

Sarasota Realtor® Magazine

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Sarasota Realtor速 Magazine

JANUARY 2013

Property Appraiser

New year brings new benefits for vets, active duty service members

A NEW YEAR BRINGS NEW BENEFITS FOR VETERANS AND ACTIVE DUTY SERVICE MEMBERS. There’s been a lot of rhetorical back‐and‐forth lately on the effect of entitlements on public budgets and individual quality of life, both pro and con. Although such debates rarely lend themselves to easy solutions, the exception in Florida is evident in the case of property By Bill Furst, GRI, CRS, CRB tax relief for active service members and disabled veterans. Sarasota County Property Appraiser There’s been a lot of rhetorical back-and-forth lately on the These entitlements regularly receive strong support from Florida effect of entitlements on public budgets and individual quality residents and legislators. For 2013, a combination of statutory of life, both pro and con. Although such debates rarely lend changes and a constitutional amendment has expanded benefits themselves to easy solutions, the exception in Florida is evident from existing exemptions and discounts. in the case of property tax relief for active service members and disabled veterans. Before these changes took effect, disabled veterans had to wait to These entitlements regularly receive strong support from Florida residents and legislators. For 2013, a combination of receive their disability rating decision from the Veteran’s statutory changes and a constitutional amendment has expanded Administration before applying for property tax exemptions as benefits from existing exemptions and discounts. totally and permanently disabled veterans, (Section 196.081); as a Before these changes took effect, disabled veterans had to disabled veteran confined to a wheelchair, (Section 196.091); or as a wait to receive their disability rating decision from the Veteran’s disabled veteran with less than a total disability rating, (Section Administration before applying for property tax exemptions as 196.24). Starting with the 2013 tax year, if a veteran anticipates the totally and permanently disabled veterans (Section 196.081); as granting of a disability rating by the Veteran’s Administration, he or a disabled veteran confined to a wheelchair (Section 196.091); she may come to our office and file a provisional application. Once or as a disabled veteran with less than a total disability rating (Section 196.24). the ratings decision is made, even if it takes several years, the application will be activated retroactively to the tax year of the Starting with the 2013 tax year, if a veteran anticipates the granting of a disability rating by the Veteran’s Administration, he provisional application, limited to a period of four years. Excess taxes or she may come to our office and file a provisional application. paid in that time period will be refunded to the qualified veteran. Once the ratings decision is made, even if it takes several years, the application will be activated retroactively to the tax year of The provisional application benefit and potential tax refund also the provisional application, limited to a period of four years. apply to veterans over 65 with combat related disabilities, (Section Excess taxes paid in that time period will be refunded to the 96.082). The combat related disability discount, equaling the qualified veteran. percentage of combat related disabilities as determined by the The provisional application benefit and potential tax refund Veterans Administration or service branch, is now available to also apply to veterans over 65 with combat related disabilities (Section 96.082). The combat related disability discount, qualified veterans and will be applied retroactively in the same equaling the percentage of combat related disabilities as manner as the exemptions mentioned in the previous paragraph. determined by the Veterans Administration or service branch, However, once the discount has been granted an annual renewal is now available to qualified veterans and will be applied application is required. The necessary forms are mailed to the retroactively in the same manner as the exemptions mentioned veteran by our office each year. in the previous paragraph. However, once the discount has been granted an annual renewal application is required. The necessary For active duty service members deployed overseas, (Section forms are mailed to the veteran by our office each year. 196.173), the military operations for which the exemption is For active duty service members deployed overseas (Section available have changed. Operation New Dawn and Operation 196.173), the military operations for which the exemption is available have changed. Operation New Dawn and Operation Odyssey Dawn concluded in 2011. As of this writing, service Odyssey Dawn concluded in 2011. As of this writing, service members deployed in support of Operation Nobel Eagle and members deployed in support of Operation Noble Eagle and Operation Enduring Freedom may be eligible for this exemption For more Operation Enduring Freedom may be eligible for this exemption information, based on the number of days of the previous year in which they based on the number of days of the previous year in which they contact the were deployed. were deployed. Property Contact us if you or a person you know qualifies for these Appraiser’s Contact us if you or a person you know qualifies for these benefits. benefits. office at 941.861.8200. 12

JANUARY 2013

Sarasota Realtor® Magazine

2012 STATUTORY CHANGES AFFECTING VETERANS

Section 196.081: Exemption for certain permanently and totally disabled veterans and for surviving spouses of veterans. http://www.flsenate.gov/laws/stat utes/2012/0196.081 Section 196.091: Exemption for disabled veterans confined to wheelchairs. http://www.flsenate.gov/laws/stat utes/2012/0196.091 Section 196.24: Exemption for disabled ex‐service member or surviving spouse; evidence of disability. http://www.flsenate.gov/laws/stat utes/2012/0196.24 Section 196.082: Discounts for disabled veterans. http://www.flsenate.gov/laws/stat utes/2012/0196.082 Section 196.173: Exemption for deployed service members. http://www.flsenate.gov/laws/stat utes/2012/0196.173

NEED A SPEAKER ON THE TOPIC OF VETERAN’S PROPERTY TAX BENEFITS? BILL FURST WILL MEET WITH YOUR GROUP AND ANSWER YOUR QUESTIONS. Call our office at 941.861.8200 or email PA@SC‐PA.com to set an appointment.

www.sarasotarealtors.com

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Put yourself in a better place™

Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 12/5/12. CBC057850.

IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY 2013 Dues Invoices Are Now Due!



Payment Methods: ELECTRONIC PAYMENTS ONLY!  Two payment options: 1. Deduct directly from your checking account via: A. Debit card (MC,V) – the easiest way to have the payment deducted from your checking account. (please note that if your debit card is simply an atm card without a MasterCard or Visa symbol it will not work). If you use a debit card with the MC or V symbol, you will check “credit card” as payment type. B. Electronic check – use same information as on your check. 2. Credit card (MasterCard, Visa, or American Express).  Instructions for all payments  Go to www.sarasotarealtors.com  Click on MY SAR ACCOUNT at top of page and log in  Under My Services, click on “Pay/View Bill Online”  Follow the payment process to confirmation of a successful transaction  Online charges will appear on your bank and credit card statements as “Realtor Association/MLS Chicago IL”  To print a copy of invoice, click on the invoice number OR Come to the SAR offices and use our computer in the library which is programmed to open directly into the log‐in screen and has easy instructions located at the workstation for your use.  Once payments are made online, they are updated to your account within 72 hours. We encourage you to go online to check the status of your account.

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Due Dates, Termination of Services, and Refund Policy  Due: December 15, 2012; Past Due: January 15, 2013, 5:01 p.m.  $50 late fee assessment on open balances as of January 15, 2013, 5:01 p.m.  Members with open balances as of 5:01 p.m. on January 15, 2013 will be subject to suspension of all Realtor® services.  Members with outstanding balances at 5:01 p.m. on February 15, 2013 will be terminated. Reinstatement will require payment in full of all amounts due at date of termination, plus a $150 SAR application fee to rejoin as a new member.  For a member whose license is placed inactive prior to Jan. 1st and who has paid their invoice, the inactive member will receive a full refund of the payments made.  For a member whose license is placed inactive on or after Jan. 1st and who has paid their invoice, all payments received are non‐refundable.

JANUARY 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota market nearing 4th best year ever

The Sarasota Association of Realtors® is on pace to see the fourth highest number of annual sales in SAR’s 90-year history in 2012, after members sold 764 properties in November 2012, a robust 29 percent increase over last November’s figure of 602 total sales. The sales total was also 8 percent higher than in October, when 719 properties changed hands. The category totals were 556 single family homes and 208 condos sold, compared to last November when only 435 single family and 167 condos were sold. This summer and fall, the market has remained extremely active, with open houses experiencing heavy foot traffic and multiple offers reported on many available properties. The available inventory remains near the lowest level in a decade, and the improving economy and employment picture have also helped fuel the real estate market recovery. “We are truly experiencing a very fortunate time for the Sarasota real estate market,” said SAR President Laura Benson. “Interest rates remain near all-time lows, quality properties are affordable, and the economy is recovering at an improved pace. We’re in the middle of a great market, and the traditional buying season is only just getting started.” The available inventory of homes on the market remained near the decade low, rising slightly to 3,543 from last month’s 3,517. In November 2011, the inventory was at 4,253 properties for sale – more than 18 percent higher than the current total. Pending sales (which represent properties that went under contract during the month) dropped in November 2012 to 905 from the October 2012 level of 954, but were 14 percent higher than last November, when there were only 782 pending sales reported. “With pending sales still relatively high, and asking prices remaining stable, we should see a continuation of these impressive sales statistics for the foreseeable future,” said Benson. “The biggest potential rain cloud on the horizon is the so-called fiscal cliff, and the potential impacts on the real estate industry.” The median sale price for single family homes in November 2012 was at $174,450, down slightly from the October 2012 figure of $176,000, while condo prices remained at $160,000, the same as last month’s figure. Last year at this time, median prices were at $162,000 for single family homes and $127,000 for condos. Prices are 8 percent higher for single family and a 28 percent higher for condos. The median price for single family homes for the past 12 months was at $172,500, and for condos the figure stood at $174,700. Last year at this time, the 12-month rolling median prices were at $156,074 for single family homes and $158,000 for condos. The numbers continue to indicate a gradual upward price trend. The months of inventory remained near 10-year lows. www.sarasotarealtors.com

“We’re in the middle of a great market, and the traditional buying season is only just getting started.” - SAR President Laura Benson

The November figures were 4.1 months of inventory for single family homes and 6.1 months for condos. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last November, there were 6.9 months of inventory for single family homes and 9.8 months of inventory for condos. At the worst point of our market in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos. Currently, only 472 properties for sale in the MLS are listed as short sales or foreclosures, down 9 percent from last month’s figure of 519 properties. This represents about 13.2 percent of available properties, down from last month’s figure of 14.8 percent and down from the start of the year when the figure represented 17 percent of the market. Looking forward to potential market conditions in 2013, NAR has been pushing federal lawmakers to leave the mortgage interest deduction in its current form. But the deduction has been mentioned as a potential target for cutting the federal budget deficit – part of the ongoing “fiscal cliff ” negotiations – which might put a damper on sales. On the “good news” front, the U.S. Census Bureau reported in December that more people are moving from state to state now than in 2011, when mobility levels hit hear records lows. The state experiencing the largest influx of new residents has been Florida, with New York residents making up the largest segment of those relocating here.

Sarasota Realtor® Magazine

JANUARY 2013

Sarasota MLSSM Statistics - November 2012 Single Family

Unit Sales

Condo

700 600 500 400 300 200 100 0 Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Single Family

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported

%Pending

# New Listings

# Off Market

This Month

2,266

556

24.5

158

$174,450

$172,500

4.1

653

28.8

727

126

This Month Last Year

3,013

435

14.3

190

$162,000

$156,074

6.9

552

18.2

765

175

2,277

516

22.7

158

$176,000

$171,000

4.4

714

31.4

826

114

‐

5,951

‐

166

$174,000

‐

7,972

‐

7,351

‐

Oct 95.1 95.4

Nov 95.3 95.6

Dec 94.8 ‐

Last Month YTD

2011 2012

Jan 94.5 95.4

Single Family – Sale Price Vs. List Price % Rates Feb 94.1 94.2

Mar 94.7 94.6

Apr 94.1 94.7

May 94.2 95.1

Jun 94.3 95.2

Jul 94.1 94.2

Aug 94.5 95.3

Sept 95.2 95.2

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Dec. 10th, 2012, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse. Source: Sarasota Association of Realtors® 16

JANUARY 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - November 2012 Single Family Condo

Inventory 3,500 3,000 2,500 2,000 1,500 1,000 500 0 Nov‐11 Dec‐11

Jan‐12

Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Sep‐12

Oct‐12

Nov‐12

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Condo This Month This Month Last Year Last Month YTD

2011 2012

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

1,277

208

16.3

188

$160,000

$174,700

6.1

252

19.7

326

117

1,641

167

10.2

181

$127,000

$158,000

9.8

230

14.0

325

241

1,240

193

15.6

191

$160,000

$170,000

6.4

240

19.4

294

107

‐

2,370

‐

192

$175,000

‐

2,990

‐

2,993

‐

Jan 93.4 93.1

Condo – Sale Price Vs. List Price % Rates Feb 91.2 93.5

Mar 92.2 94.2

Apr 93.4 94.3

May 94.5 93.8

Jun 94.2 93.8

Jul 92.5 94.6

Aug 93.1 94.1

Sept 92.8 94.2

Oct 93.2 94.4

Nov 93.6 95.4

Dec 92.7 ‐

Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transactions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average number of days that sold properties were on the market before a contract was executed. Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

JANUARY 2013

Commercial Investment Division

CID ready for great new year!

By Linda Emery CID President

The Holiday Season is always a wonderful time of year – a time to celebrate family and friends, to appreciate the blessings we all have but sometimes take for granted, and to reflect on the successes and disappointments of the waning year. On New Year’s Day we’re excited to begin the new year with its inevitable challenges and opportunities. The increased activity we’ve enjoyed during the last quarter of 2012 heightens the optimistic outlook for the start of 2013. Through my involvement with CID over the past eight years, I’ve built relationships that I consider my most valued business assets and I’m honored to begin 2013 as President of the Commercial Investment Division. The dedicated men and women on the CID Board have committed their time and expertise to an ambitious strategic plan to enhance the value of CID membership and I know we’ll be successful in achieving that plan. Please take a few minutes to review the information on these pages in the coming months. You’ll see

opportunities for member involvement on committees, for scholarship funds, and for marketing/information exchange with commercial professionals. We encourage you to take advantage of benefits of membership. I’m looking forward to a successful 2013 and welcome ideas, suggestions and comments from CID members throughout the year.

WANTED: Committee Members Choose a committee and email the Chair. Your input and experience will enhance the value of CID Membership. Committees Education – Susan Goldstein: SusanGoldstein@TheCommercialSpecialist.com Program – Lori Hellstrom: LHellstrom@Ospreyres.com MFCRE/Technology - Kevin Robbins: Kevin@Robbinscommercial.com Public Policy – Pete Skokos: PSkokos@nhlslaw.com Membership – Dave Roth: DavidRoth@remax.com Public Relations –Sarah Olesen: SarahOlesen@MichaelSaunders.com

CID slates meetings for January 2013 Commercial Marketplace Sessions

Increase visibility for your properties, learn of new opportunities, and exchange information with commercial professionals. Deals are made at these sessions. 1st, 2nd & 4th Fridays at the SAR Auditorium 3rd Friday at the MAR offices

NEW FOR 2013!

The monthly general meeting (3rd Tuesday) will now include a Marketplace session, giving members five opportunities each month to promote their listings.

Commercial Marketplace Sessions - Friday, Jan. 4th, 9 a.m. – SAR Auditorium - Friday, Jan. 11th, 9 a.m. – SAR Auditorium - Friday, Jan. 18th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, Jan. 25th, 9 a.m. – SAR Auditorium CID General Membership Meeting Date: Tuesday, Jan. 15th, 8:30 a.m. Location: SAR Auditorium; Program: TBD CID Members Only

2013 CID Officers & Directors Officers:

President: Linda Emery, Sperry Van Ness: Linda.emery@svn.com President-Elect: Lori Hellstrom, Osprey Real Estate Services: LHellstrom@ospreyres.com Vice-President: Tim Mapp, Mapp Realty: Tim@Mapprealty.com Secretary: Dave Roth, RE/MAX Alliance: DavidRoth@remax.com Treasurer: Tony Veldkamp: Sperry Van Ness: Tony.Veldkamp@svn.com Past President: Brad Lindberg, Sperry Van Ness: Brad.Lindberg@svn.com 18

JANUARY 2013

Directors:

Rico Boeras: Preferred Commercial Inc.(1 year - 2013): RicoBoeras@gmail.com Peter Skokos: Norton Hammersley (2 years - 2014): PSkokos@nhlslaw.com Kevin Robbins - Harry Robbins Associates (2 years - 2014): Kevin@Robbinscommercial.com Susan Goldstein: Michael Saunders & Company (3 years2015): SusanGoldstein@TheCommercialSpecialist.com

Sarah Olesen: Michael Saunders & Company (3 years 2015): SarahOlesen@michaelsaunders.com

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Join CID - the premier commercial real estate organization programs. Make education a 2013 The Commercial Investment Division has a resolution! strong membership of over 300 professionals active in the commercial real estate market. CID - Complete a qualified real estate course membership includes commercial brokers and sales - Submit an application and proof of persons, lenders, attorneys, insurance agents and successful completion professionals involved in all aspects of the business. - Receive half of the course fee up to Members enjoy: $500 § Monthly general membership meetings - For CID members only featuring speakers and panel discussions on - Contact Susan Goldstein for topics relevant to the commercial real estate more information: SusanGoldstein@ market. TheCommercialSpecialist.com § Weekly Marketplace sessions designed to § Community involvement in city, allow members to present their listings, county and state legislation and learn of new opportunities and exchange David Roth initiatives important to our market. information with commercial professionals. CID also hosts its annual Golf § NEW IN 2013: The monthly general Tournament which has contributed meeting (3rd Tuesday) will now include a Marketplace proceeds to local charities for over 10 years. session giving members five opportunities each month The networking opportunities alone are well worth the to promote their listings. membership fee of $50 per year. You’re invited to attend § The CID Scholarship Program encourages members two meetings before becoming a member. to invest in their success through educational For more information, contact Dave Roth, Membership opportunities offered by the National, State and Local Chair, 941-224-5786 or email davidroth@remax.net. associations of Realtors®, CCIM, and other qualified

CID President Brad Lindberg presents Donna Vellenga of Manasota SOLVE with a $7,000 donation from CID, proceeds from the 2012 CID Charity Golf Tournament held on Oct. 29th. www.sarasotarealtors.com

The presentation was made at the Dec. 6th CID Annual Holiday Party. Also at the event, Diane Lawson of Sperry Van Ness was named 2012 Commercial Realtor® of the Year. Congratulations!

Sarasota Realtor® Magazine

JANUARY 2013

Education Programs

Where is the economy heading in the new year? Title: Economic Update Date: Feb. 27, 2013 Time: 9 to 10:30 a.m. Presenter: Dr. Ted Jones, Stewart Title Cost: FREE - SAR Members; Others, $10 In real estate, staying on top of industry news is essential to your success. Whether you’re learning about the latest trends, home sale prices, title insurance or more, you need accurate information. Dr. Ted C. Jones, PhD, Senior Vice President/Chief Economist for Stewart Title Dr. Ted Jones Guaranty Company and also Director of Investor Relations for Stewart Information Services Corporation (NYSE-STC), will present the latest reports on real estate, finance and the economy. You can use this information to your advantage when trying to stay in the know and pass it along to your customers and prospects. The program is free and sponsored by Stewart Title, who will provide breakfast for the attendees. Please register at www.sarasotarealtors. com.

Title: New CRSP-12 Contract Date: Wednesday, Jan. 10, 2013 Time: Noon to 1:30 p.m. Cost: FREE - SAR Members; Others, $10 There is a new contract in town—the CRSP-12! It replaces the FAR-9. Come to this seminar to hear all the important changes that have been made to this Contract for Residential Sale and Purchase (CRSP). You will also learn about the new CRSP-12 Addenda, which incorporates three new addenda that used to be stand-alone and are no longer available as stand-alone documents. Your instructor will be Julie Horstkamp, Esquire, Berlin Patten. Julie chaired the Realtor®-Attorney Joint Committee of Florida Realtors® and The Florida Bar Association. In addition, she actively participated in the revisions to this contract, and can explain the reasoning used to make the changes. Julie is a Board Certified Real Estate Attorney and works out of the Berlin Patten law office in Venice.

New course format for GRI in 2013 Florida Realtors® has made changes to the GRI program for 2013. Instead of offering the program in three courses, they have broken up the program into 2-day modules— easier on your work schedule and your pocketbook! Each 2-day module will cost $130 and will have a onehour exam with 50 questions. Salesman’s and Broker’s post-license education will still be available. The first module of the GRI 100 series, GRI 101, will carry 14 hours of CE and includes Core Law. So, for the first time, SAR members can renew their license with a highquality 2-day program that also counts towards the GRI designation. SAR is pleased to announce the dates for the GRI 100 Series: Standards of Practice. GRI 101- Realtors®: Professionalism and the Law, Jan. 21-22, 2013 Topics: - Professional Standards - Fair Housing and Diversity - Law 14 hours of continuing education or 15 hours of salesman’s post-license education Cost: $130

GRI 102 - Starting Your Business, Jan. 28-29, 2013 Topics: - Contact to Contracts - Business Planning 20

New Florida Realtors® contract explained

JANUARY 2013

- Goal Setting 11 hours of continuing education or 15 hours of salesman’s post-license education Cost: $130 GRI 103 - Maximize your Profitability, Feb. 4-5, 2013 Topics: - Finance - Negotiating - Counseling - Law 14 hours of continuing education or 15 hours of salesman’s post-license education Cost: $130 Register for all three modules for $349 (save $51). The GRI 200 series is scheduled for April 2013, and the GRI 300 series for June 2013. Watch for details!

Sarasota Realtor® Magazine

www.sarasotarealtors.com

VENETO BLVD.

This masterpiece community features superb amenities, including an expertly sculpted 18-hole championship golf course and clubhouse, River Club with dining, fitness and tennis, a picturesque nature park and, of course, exquisite homes. Some may consider it a stroke of genius.

Venetian Golf & River Club LAUREL RD. EAST

Exit 195

Gulf of Mexico

Membership Opportunities Available!

New homes from the $180s. 102 Pesaro Drive | North Venice, FL 34275 941-485-5063 | 800-WCI-4486 venetianwci.com

Choose the right COURSE with WCI Communities. Whether you enjoy a day teeing it up on the golf course or charting a course in your boat, WCI has a community to suit your needs. On the shores of the Manatee River in Bradenton, Tidewater Preserve is a private boating community with exceptional amenities including the Port & Court Club tennis complex, marina and boat lift, canoe park, even a riverfront nature walk. Tidewater’s newest addition, The Lodge rounds out the amenities offering a fitness center, resort style pool, and plenty of space for socializing. Enjoy Living on the River’s Edge at Tidewater Preserve.

275

Tampa St. Petersburg

Tampa Bay 75

275

Gulf of Mexico 64

Bradenton

Exit 220 75

Sarasota

LOGO B/W - includes reversed out logo in all white

NORTH

The Experience Is Everything.

Void where prohibited. Prices and availability are subject to change without notice. All references to clubs, golf clubs and membership opportunities and other amenities are subject to fees, dues and availability. Venetian Golf & River Club is not affiliated with The Venetian Resort Hotel Casino or Las Vegas Sands, Inc. In any WCI community with a community development district or special taxing district, certain amenities may be funded by district financing. ©2012 WCI Communities, Inc. All rights reserved. CBC058372

New homes from the $180s. 4700 Tidewater Preserve Blvd. | Bradenton FL 34208 941-465-4001 | 888-924-3343 tidewaterpreserve.com

Tax strategies explained for real estate professionals Title: Tax Strategies for the Real Estate Professional Date: Feb. 21, 11 a.m. to 1 p.m. Cost: $10 (SAR members), $20 (others) Many of us assume our accountants take care of our taxes, but forget that WE are the ones giving them the numbers and records they are using to prepare our tax return. This seminar will help identify between $2,500 and $27,000 in NEW deductions that can be used right away to pocket thousands in tax savings. These deductions are based in tax LAW, but presented in simple English that all of us can easily understand. This seminar is presented by Maine Schafer of Bradford and Company, Inc., and excerpted from the Bradford and Company, Inc. Tax Strategies for the Self-Employed audio course (available to register for after the program). • Double Entertainment Deductions – How to safely transform 50% entertainment into 100% deductions.

• Audit-Proofing - Documentation tips that will save you time, all the time • Help Your Accountant – How you can help your accountant work more effectively on your behalf • Car Strategies - Six methods that produce thousands in deductions, plus NEW first year auto depreciation deduction UPDATES! • Actual Expenses vs. IRS Method Mileage – New $25,000 automobile deductions you don’t want to lose • IRS Audit - Reduce your chances – Red flags to avoid • Home Office Deduction –Why Real Estate Professionals may now safely qualify for this remarkable deduction and how it transforms personal commuting to deductible business miles • Medical Plan - Learn how a 105 Medical Plan can turn your family’s medical expenses into tax-favored business expenses

Gain knowledge to enter real estate upper tier Title: Certified Luxury Home Marketing Specialist Dates: March 19-20, 2013 at 8:30 a.m. Instructor: Laurie Moore-Moore Cost: $550 Training for the Certified Luxury Home Marketing Specialist (CLHMS) designation is designed to help sales professionals who currently work in the upper tier move to the next level, or to help those just beginning to target the luxury market jump-start their business. Learn what wealthy buyers and sellers say are the “real secrets” to capturing their business and delivering outstanding service. This intensive two-day CLHMS Laurie Moore-Moore training is the first step in earning the coveted CLHMS designation. Upon completion of the training you will become a Member of The Institute. Members of the Institute are part of an exclusive, international network of active luxury agents and enjoy a host of valuable benefits and discounts. Recognized as the mark of accomplishment in luxury markets around the world, the CLHMS designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence, and confidence they require.

JANUARY 2013

Attend this valuable training & discover how to: • Reach more affluent prospects • Increase your average price • List and sell more luxury homes • Deliver outstanding service to affluent buyers and sellers

Award-winning printing and customer service Specializing in pocket portfolios, die-cutting and foil-stamping done in-house FSC and SFI certified to help you go green

Sarasota’s Premier Real Estate Printer 1730 Independence Blvd., Sarasota, FL 34234 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com

Sarasota Realtor® Magazine

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New year for My Florida Regional MLS Pre-registration is required for all MLXchange classes at www.mfrmls. com. All classes are hands-on in the SAR Technology Center (except for Adding/ Modifying Listings). Registration is limited to 18. Please be sure that you will attend if you reserve a spot! If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR).

MLXchange Basic Jan. 3 or Jan. 15, 9 a.m. to Noon Mandatory session for all new users. Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match for client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click from the Home Page. MLS Compliance 101 Jan. 3 or Jan. 15, 1 to 2:30 p.m. Mandatory session for all new users. 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 Adding/Modifying Listings in MLXchange Jan. 3 or Jan. 15, 3 to 4:30 p.m. Mandatory class if you will be entering/updating your own listings. You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.

iMapp - Interactive Tax and Mailing Labels Jan. 7, 9 a.m. to Noon In this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area.

Basic Agent Web Page Set-Up Jan. 22, 9 to 9:45 a.m. (Prerequisite for Advanced Web Page Customization) This class will teach you the basics of setting up your Agent Web Page in the MLS. This will allow you to email listings to your clients via the Agent Web Page.

MLS System Settings & Defaults Jan. 7, 1 p.m. to 2:30 p.m. This class will teach you how to set up system settings in the MLS. Including, how to save reports as favorites, setting up your email defaults, search defaults and much more.

Listing Tools Jan. 22, 10:15 to 11:45 a.m. This class will introduce you to Member Benefits that will provide you with valuable tools for your listings in MLS. • RealBiz 360- Virtual Tours • ShowingTime • Data-Coop

Auto-Notification Searches/ Prospecting Jan. 7, 3 to 4:30 p.m. This class will teach you how to create custom searches for your prospects and set up those searches to automatically notify your clients of newly matching properties. We will also teach you how to manage those searches and communicate with your client through their Personalized Web Page.

Creating a Professional CMA (3 CE Credits!) Jan. 22, 1 p.m. to 4 p.m. This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA.

Legal advice can avoid closing chaos Title; Sail Smoothly Through Your Closings Date: Feb. 20, 2013, 9 to 10:30 a.m. Cost: FREE - SAR Members; $10 others Here’s what you need to know to make your closings the best EVER! Attorney Anne Weintraub will cover some basics such as: • Selection of closing dates and why it’s important • Direct contact with staff at the closing office • Direction as to commission splits and processing fees

www.sarasotarealtors.com

• Choosing local lenders and understanding the HUD/costs early • Taking care of repairs and the importance of signing off on the walk-through (or not) • Attorney over title company • Getting the survey ordered early and copying everyone on the commitment • Lien searches and closing open permits • Working with entities and those with authority • Communications with the closing agent

Sarasota Realtor® Magazine

Anne Weintraub

JANUARY 2013

SAR New Headquarters

Construction on schedule for SAR facility! Visit SAR on Facebook at www.facebook.com/SarasotaRealtors

Photos by Jesse Sunday and Halfacre This was the view in late November of the site of the new SAR headquarters at the northwest corner of Cattlemen Road and Colonial Oaks Boulevard.

Interior construction began in November at the new SAR headquarters site as Halfacre Construction crews worked toward the March 2013 anticipated project completion.

JANUARY 2013

The new SAR headquarters at the northwest corner of Cattlemen Road and Colonial Oaks Boulevard should be completed by the early summer months of 2013.

Sarasota Realtor速 Magazine

www.sarasotarealtors.com

ors

Goodwill promotes White Glove service for Realtors® Editor’s Note: Donna Evans, Director of White Glove Service for Goodwill, was SAR Affiliate of the Month for October 2012, and the following information was mistakenly omitted from her article. Donna Evans was SAR Affiliate of the Month for October 2012. She can be reached at 941-355-2721 or by email at donna.evans@gimi.org or visit Goodwill’s website at www. ExperienceGoodwill.org. Donna handles Goodwill’s White Glove Service, which provides a specialty FREE service to those who are looking to downsize, relocate or simply wanting to donate the contents of their home to Goodwill. The White Glove staff packs all of the donated items with care and delivers everything to Goodwill for resale in their stores. Staff also ensures that the donor receives an itemized tax donation receipt. Those using White Glove Service include those selling their second home that is fully furnished, buyers who purchase a furnished home but have their own furnishings, elderly clients who are selling their primary residence and downsizing to a retirement home, and families disposing of things when selling their deceased relative’s home. The money received from the sales of your donations helps Goodwill to create jobs and economic success for people with disabilities and other barriers to employment, including veterans returning home and needing help reintegrating into new job skills. The donor receives the

satisfaction of knowing they’re changing lives through the power of work with their valuable donated belongings. It’s a win-win for all!

New tax impacts some real estate transactions By Julie Horstkamp, Esq. Realtor®-Attorney Joint Committee

Beginning January 1, 2013, a new 3.8% tax on some investment income took effect. The tax was passed by Congress to help fund the health care and Medicare overhaul. Recently, local real estate law firms have been receiving inquiries regarding the new 3.8% capital gain tax and what impact it will have on residential real estate transactions. The good news is that the new 3.8% tax will not apply to a majority of residential real estate transactions in our region. However, the new tax will impact some residential real estate transactions. Realtors® should consult tax professionals to clearly understand the tax and the potential impacts on clients. The new 3.8% tax law will apply to individuals with an adjusted gross income (AGI) above $200,000, and couples filing a joint return with more than $250,00 AGI. With regard to the sale of a primary residence, the tax will not apply to the first $250,000 on profits gained by an individual, and the first $500,000 on profits gained by couples filing a joint return. www.sarasotarealtors.com

Note that the $250,000 (individual) and $500,000 (couple) primary residence exemptions will not apply to second homes or investment properties. In other words, there is no exemption from the tax for residential transactions involving second homes or investment property, and the tax will therefore be due for any such transaction if the income thresholds are exceeded. KEY POINTS: • The 3.8% tax will NEVER be collected as a transfer tax on real estate of any type, thus the tax will NEVER be paid at the time of purchase. • The tax will not be applied until the 2013 Form 1040 tax return is filed in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed. Also note, the above is only a brief overview of this very complex tax and it will be difficult to predict exactly how it will affect each individual. Thus, law firms recommend that any real estate professional advise their clients to contact their local tax professional with any specific inquiries they may have regarding the new 3.8% tax.

Sarasota Realtor® Magazine

JANUARY 2013

FHA extends flipping waiver through 2014 The Federal Housing Authority (FHA) has a rule that forbids “flipping” – executing a new sales contract for a home with an FHA-insured mortgage in 90 days or less. However, FHA has waived that rule and allowed flipping since January 2010 as a way to boost sales during the housing slowdown. Since that time, the rule has been extended three times, including the most recent announcement. By waiving the flipping rule, FHA hopes to encourage investors that specialize in acquiring and renovating properties. If investors upgrade the housing stock, FHA says, it will make more livable homes available for first-time buyers and others. The waiver applies to all single-family properties being resold within the 90-day period after prior acquisition – it’s not limited to foreclosed properties. However, the waiver is subject to certain conditions, and mortgages must meet these conditions to be eligible for the waiver. The waiver isn’t applicable to mortgages insured under HUD’s Home Equity Conversion Mortgage (HECM) Program.

The Department of Housing and Urban Development announced the extension in the Federal Register, which is posted online. - Florida Realtors®

3590 S. Tuttle Avenue, Sarasota, FL 34239

Spring Schedule 2013 Broker Pre-License Course BK-2: February 19 - March 28, 2013 Class starts: February 19 at 5:00 p.m.

Sales Associate Pre-License Course SA-5: January 8 - February 7, 2013 Class starts January 8 at 5:00 p.m. Earlybird Tuition: $339 (includes manual, Florida Real Estate Principles, Practices and Law, 35th Edition) (register at least 7 days in advance of class to receive Earlybird price) Regular Tuition: $364 Tuesdays & Thursdays, 5 to 10 p.m. AND Saturdays, 8:30 a.m. to 1:30 p.m. End of Course Exam: On last day of course Each class limited to 20 students Instructor: Michael W. Davenport Location:

3590 South Tuttle Avenue Conference Room A

Earlybird Tuition: $395 (includes manual, Florida Real Estate Brokers Guide, 4th Edition) register at least 7 days in advance of class to receive Earlybird price) Regular Tuition: $420 (SAR members: 10% discount) Tuesdays and Thursdays, 5 to 10 p.m. AND Saturdays, 8:30 a.m. to 1:30 p.m. Class limited to 15 students End of course Exam: On last day of course Instructor: Michael W. Davenport Location:

Sarasota, FL 34239

JANUARY 2013

Sarasota Realtor® Magazine

3590 South Tuttle Avenue Conference Room A Sarasota, FL 34239

www.sarasotarealtors.com

Realtor® Magazine

The year 2013 marks the centennial of the Code of Ethics and Standards of Practice of NAR. The first Code was written before license laws and most other regulations governing real estate existed and was seen as a declaration of the industry’s principles and beliefs. The Code, a living document that today undergoes annual review and revision, has been called a “golden thread,” uniting those devoted to raising the standards of professionalism and service in real estate. Here’s a look back at a few defining moments in the life of one of the industry’s most important documents. Strong Underpinnings When NAR was founded in 1908 as the National Association of Real Estate Exchanges, the organization’s bylaws included provisions for seven key committees, one of which was a committee on the Code of Ethics. So why did it take nearly five years for members of the committee to put pen to paper and write the first Code? During the intervening years, members spent much time—at local board meetings, at annual conventions, and in articles—exploring how the concept of ethics might apply to real estate in a meaningful way. Through this process, two of the Code’s most vital and enduring concepts were developed. In 1910, C. F. Harrison of Omaha, Neb., pointed out that a code of ethics “naturally divides itself into two parts, the broker’s duty to his clients and the broker’s duty to his fellow brokers.” Today, the code has a third section: duties to the public. In June 1912, Frank Craven of Philadelphia, Pa., suggested the Golden Rule as the ideal starting point. It’s now part of the Code’s preamble in language that remains endearingly frozen in time: “Whatsoever ye would that others should do to you, do ye even so to them.” Baltimore Came First Although NAR’s Code was the first to be applied to real estate professionals nationally, it was not the first code of ethics for real estate. The Greater Baltimore Board of Realtors®, when it was founded in 1858, incorporated rules of conduct into its bylaws that discouraged members from stealing one another’s listings. Those rules are considered to be the industry’s first formal ethics rules. By 1913, many local associations had ethics codes. In fact, the 1913 Code was modeled after rules developed by the Kansas City association. Since adoption of the Code was voluntary, some boards created their own versions even after 1913. The national association amended its bylaws in 1923, requiring all local associations to adopt the Code. Yep, the Rules Apply to You At first, it was assumed that real estate brokers, once made aware of the rules, would simply abide

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by them. At least in some instances, that proved to be more hope than reality. So by 1915, the national association was encouraging local boards to set up enforcement procedures. NAR’s first ethics enforcement guidelines were issued in 1925. Still, seven decades later, enforcement was apparently still an issue, because in 1998, NAR President R. Layne Morrill appointed a presidential advisory group to address the problem. The group recommended several steps to enhance enforcement, one of which was for all Realtors® to successfully complete Code of Ethics training on a periodic basis. A four-year cycle of ethics training was instituted the next year, with the first cycle running from 2000 to 2004. The current training cycle ended on Dec. 31, 2012. 27-Year Freeze The Code was meant to evolve; it was thoroughly revised in 1914, 1915, and 1924, and an amendment prohibiting “horseback appraisals”—what we would now call drive-by appraisals—was added in 1928. After 1928, however, the Code was declared “complete” and not touched again for more than 20 years. A 1948 member survey found the Code was outdated and no longer the source of pride, so the newly formed Professional Standards Committee set about bringing it up to date. But efforts to enact the proposed revisions were put on hold when the federal government brought an antitrust action against NAR. At issue was Article 9, which required Realtors® to follow their board’s published commissions and fees. NAR said the provision protected consumers from paying unfair and arbitrary rates, but the Justice Department called the rate setting anticompetitive. The case reached the U.S. Supreme Court, which, in 1950, declared that Article 9 was illegal. It was removed from the Code, but attempts to bring the remaining articles up-to-date were rejected. In 1955, the Professional Standards Committee tried again. This time the revisions passed. Inspirational and Aspirational “Under all is the land” is a familiar phrase. It’s the opening of the Code’s preamble, which sets forth the social responsibilities of the association and its members. The famous introduction, written by A. H. Barnhisel of Tacoma, Wash., was added in 1924. In 1955, the language was modernized, but Realtors® were unhappy with the changes, and in 1961 members reverted to the earlier language “because of its superior phrasing.” No further attempts were made to alter the preamble until 1994. Winding Path to Equal Opportunity Today, the Code is renowned for its progressive attitude toward equal opportunity and fair housing, surpassing

Sarasota Realtor® Magazine

Ethics In Action

The NAR Code of Ethics Hits 100! By Frederik Heller

Continued on P. 31, See ETHICS

JANUARY 2013

WCR installs ‘Principal Players’ of leadership

By Mary Hellhake WCR President An orchestra can teach us much about what we strive to accomplish in the Women’s Council of Realtors®’ Sarasota Chapter this year. It is a very good demonstration of synergy, how the sum of the whole is greater than the sum of the individual parts. It takes a great deal of teamwork to gradually build to that crescendo and requires balance to keep the sound level growing consistently. Every instrument group has a principal who is responsible for leading the group and playing solos at times. Introducing the 2013 Sarasota Chapter Line Officers: Mary Hellhake, President Susan Phelps, President Elect Catherine Lamphier, Vice President of Membership Peter Salefsky, Membership Carrie Starr-Rummery, Treasurer Tim Calpin, Secretary Kristin Triolo, Corresponding Secretary

START OFF THE NEW YEAR RIGHT Why join WCR? Women’s Council is your connection to the top professionals in real estate, as well as great education and opportunities to promote your business online through your free Member Expertise Profile. Get ready for networking and referral opportunities, including local, state and national chapter meetings, workshops, leadership development opportunities and special luncheon events. Go online at www.wcr.org to learn more. Don’t miss out. In today’s challenging market, we strive to give you the networking, business-building resources and support you need. Renew your Women’s Council membership today and, if you haven’t already done so, upload your color photo in the Referral Center and update your profile to create maximum referral opportunities. The key is to get involved. Please come to our next business luncheon. Ask any officer below for details. Happy New Year!

2013 Leadership Team

Mary Hellhake President Michael Saunders & Company Cell: 941-544-0763 maryhellhake@michaelsaunders.com

Catherine Lamphier Vice-President Membership Michael Saunders & Company Cell: 941-400-4219 catherinelamphier@michaelsaunders.com

Tim Calpin Recording Secretary BMO Harris Phone: 941-363-2237 tim.calpin@BMO.com

Susan Phelps President-Elect Cristello and Company RE Cell: 941-726-2227 sarasotasuze@gmail.com

Carrie Starr-Rummery Treasurer Starr Title Insurance Phone: 941-365-7827 carrie@starrtitle.net

Kristin Triolo Corresponding Secretary Florida Homes eBroker Phone: 941-725-2486 kristintriolo@floridahomesebroker.com

JANUARY 2013

Sarasota Realtor® Magazine

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Tuesday-Saturday 10:30AM- 5:30PM Monday by Appointment 1540 Main Street Sarasota, FL 34236 941.366.0941 BlackBirdHomeGallery.com

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Boudarga, Sara: One Sarasota Realty Group Brassil, Regina: Kingdom Keys Realty LLC Clark, Andrew: Medway Realty Edwards, Cheryl: Real Estate Match USA Feinstein, Eric: Select Properties LLC Martens, Rose: My Sarasota Vacation Rental Mazzone, Michael: Sarasota Realty Group LLC Triolo, Kristin: Florida Homes eBroker

New Members

Castleberry, Rebecca: Exit King Realty Collier, Mary: Michael Saunders & Company Coppinger, Daniel: Exit King Realty Coughanour, Benjamin: RER International Cox, Chad: AUM Florida Real Estate LLC De Palma, Rita: Horizon Realty International Doran, Kenneth: Exit King Realty Ellis, Whitney: Coldwell Banker Res R E Freden, Gregory: Coldwell Banker Res R E Glasgow, Joe: Realty Executives Solutions Hartmann, Deborah: Florida Internet Realty LLC Hoffman, David: Coldwell Banker Res R E Lima, Karen: LWR Communities LLC Loebker, Brian: Michael Saunders & Company Lucas, Nancy: Coldwell Banker Res R E McLoughlin, Shawn: Sandals Realty of Sarasota Midyett, Mark: Keller Williams Lakewood Ranch Moroz, Kari: Michael Saunders & Company Murphy, John: RER International Orquera, Gregory: Pileggi Realty Group LLC Rodriguez, Alexander: Coldwell Banker Res R E Rogers, Virginia: Coldwell Banker Commercial NRT Rohde, Patricia: Nextage Lighthouse Realty Rosenberg, Kelly: Laurel Oak Lifestyles Realty Simik, Milan: RER International Volz, Daniel: Premier Sotheby’s Intl. Realty Winick, Sharyn: Coldwell Banker Res R E

Now With ...

American Momentum Bank 500 S. Washington Blvd Sarasota, FL 34236 Phone Number: 941-524-7897 30

JANUARY 2013

Barnes Walker - Short Sale Negotiations

3119 Manatee Avenue West Bradenton, FL 34205 Phone Number: 941-741-8224 Representative: Adron H Walker Specialty: Real Estate Law Firm and Title Company. Main concentrations are in: (1) the practice of real estate law, (2) service to real estate brokers and their clients, and (3) providing of title insurance at the most competitive rates allowed by law. As experienced attorneys with an experienced staff, we know how to get the transaction closed -- efficiently, quickly, and thoroughly. We realize that closing the transaction is the ultimate goal, and we will not lose sight of that. Further, we are able to provide you and your clients with the services, the skills, and, if necessary, the problem-solving abilities of seasoned attorneys, all within the price range and at the speed of a title company. Since we value your referral and your time, we offer special services to you and your clients at no additional charge. Email: awalker@BarnesWalker.com

Beacon Background Screening Services

Ambrosio, Leslie: Medway Realty Bingham, Frederick: Horizon Realty International Blomquist, Timothy: Prudential Elite Realty Svcs Brenner, James: Key Realty Dalton, Rebecca: Coldwell Banker Res R E Garland, Brenda: Select Properties LLC Gonzalez, Debra: One Sarasota Realty Group Good, James: Blakeley & Associates Realty Hastings, Margaret: Atchley International Realty Kessler, Erin: Exit King Realty Key, Dale: Sandals Realty of Sarasota Levin, Sue: Key Realty Lippert, Sally: Relax Realty Group Inc. Lovinger, Steven: Sandals Realty of Sarasota Lyons, Jill: Relax Realty Group Inc Miller, Paul: Realty Executives Solutions Morreale, Lisa: Keller Williams On The Water Nelan, Lauren: Key Solutions Real Estate Group Petrucci, Jean: Keller Williams Realty Manatee Radford, M Angeles: Coldwell Banker Res R E Ricaurte, Luz: Premier Sotheby’s Intl. Realty Sampson, Christine: RE/MAX Alliance Group Stubblefield, Polly Ann: Key Realty Williams, Raymond: RE/MAX Alliance Group Wood, Brian: Premier Sotheby’s Intl. Realty

New Affiliates

Representative: Stephen Ackoury Specialty: American Momentum Bank will offer a deep understanding of our commercial and retail banking Clients’ immediate and long range goals, unparalleled personal service, and solutions tailored to their specific needs. Experienced, professional management and Associates, combined with flexible decision making, is essential to the success of our Clients. Our bank’s success is a result of our Client’s and Associate’s success. Commercial Banking Solutions for solid support. American Momentum Bank provides solutions to accomplish your growth and wealth building plans. Our seasoned professional bankers can design credit structures of most any size. Let us show you how we can tailor a comprehensive solution for all of your banking needs. Email: sackoury@americanmomentumbank.com

1525 S.Tamiami Trail #603B Venice, FL 34285 Phone Number: 941-408-1788 Representative: Jennifer Ege Specialty: It is imperative that we use due diligence in understanding the backgrounds of those individuals with whom we work, live and play. Prior to entering into agreements, whether leasing or employment, it is incumbent on us to research and evaluate the worthiness of those with whom contractual agreements are to be inked. This due diligence can often be time consuming and laborious. Often critical information can be missed in the process. We at Beacon Background Screening Services are here to facilitate the process providing accurate, timely information on which sound business decisions can be made. Email: jege@beaconbackground.com

Dehart Alarm Systems

863 Commerce Blvd Sarasota, FL 34243 Phone Number: 941-365-1991 Representative: Pat Lane Specialty: Your trusted solution for custom electronic systems. Imagine the peace of mind and flexibility of controlling your music, movies, lights, temperature, and security system from anywhere in the world. Since 1967, Dehart Alarm Systems has set the standard of excellence in security and fire alarm systems in Sarasota, Bradenton, and Manatee Counties by providing local monitoring and home automation. Let Dehart simplify the wide variety

Sarasota Realtor® Magazine

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of systems in your home by integrating your electronics into one complete package. We provide professionally installed systems for the West coast of Florida so you can relax while you’re at home or away. Don’t become a victim; call us today to safeguard your home. Whether you have a new or an existing home, Dehart can provide your total home solution with a variety of electronic systems, including: Security & Fire Alarms, Recorded Security Cameras, Access Control Systems, Home Theater Systems, LCD & Plasma TV Systems and Home Automation Email: plane@dehartsystems.com

Divas Mobile Solutions

P.O. Box 17781 Sarasota, FL 34276 Phone Number: 941-374-2466 Representative: Diane Drake Specialty: Divas Mobile Solutions was formed with the small business owner in mind. On a mission to help the small business owner not only survive, but thrive, the Divas have recognized the shift toward mobile and have put together numerous services to help your business make a smooth transition to becoming a mobile friendly business. The Easiest Way to Become Mobile! Your customers are mobile - is your business mobile friendly? Contact the Divas for your FREE quote today! Call us today: 941.237.0630. We will set up a website, mobile or app plan that works for your business. We look forward to working with you! Email: Diane@DivasMobileSolutions.com

Intuitive Technology Coaching

2500 Wilkinson Road Sarasota, FL 34231 Phone Number: 941-549-1907 Representative: Kim Long Specialty: What can coaching do for you? The primary focus of coaching is empowerment. It’s about connecting your inner purpose and passion to your outer goals. Unlike therapy which is oriented in the past, coaching acknowledges the issues, then supports you in moving through and beyond any impediments that prevent you from living your highest ambition. As a Technology Coach, I will also help you to overcome the feeling of “overwhelm” that is the result of drowning in too much information and too many choices. Together we will craft a strategy that allows you to be in control of technology rather than be controlled by it. We will develop systems that are tailored to your comfort level that will help you to be much more efficient with your time and energy, and allow you to achieve greater personal and professional success. I can also assist you with product and application selection, and especially for Realtors, the integration of a paperless workflow. Sessions

ETHICS From Page 6

the federal government’s own laws prohibiting discrimination against various protected classes. But it took many years for the Code to reach its current level of openness, and for several decades it was widely criticized for being discriminatory. The original Code didn’t address topics of nationality or skin color, but a 1924 addition—the infamous Article 34—stated that members “should never be instrumental in introducing into a neighborhood a character of property or occupancy, members of any race or nationality, or any individuals whose presence will clearly be detrimental to property values in that neighborhood.” As explained in 1965 by Eugene Conser, NAR’s executive vice president from 1955 to 1970, this www.sarasotarealtors.com

are driven entirely by your needs and goals. My primary purpose is to support you in achieving your life’s ambitions in a way that fosters balance and harmony. Success that sacrifices your health or peace of mind isn’t really success at all. Let’s work together to redirect your energy into a feeling of streamlined confidence! Email: Kim@TechWiseCoach.com

Real Estate Book of Sarasota

33 Riverfront Drive Venice, FL 34293 Phone Number: 941-716-1205 Representative: Amanda Meddaugh Specialty: The Real Estate Book connects real estate professionals and home buyers and sellers throughout the U.S. Canada, and the Caribbean, utilizing interactive print publications, our top ranked website, RealEstateBook.com; mobile media tools; direct mail solutions; email campaigns; and more. Email: realestatebooksarasota@gmail.com

Your Home Publishing

3501 Bonita Bay Blvd. Suite 300 Bonita Springs, FL 34134 Phone Number: 239-676-7461 Representative: Nicholas and Channing Spano Specialty: Your Home, The Best Listing Tool Ever….By far the majority of top producers are listers. Dominating a farm area is the tried and true method to reap more listings. Your Home Magazine is the best listing tool EVER. You’ll dominate the competition. More Buyers: Buyers respond to properties for sale. Whether it’s from the internet, advertising, yard signs, open houses, or the MLS, you attract buyers with listings. Commissions are paid when someone buys. Earn More: Because you can manage many more sellers than buyers, you can participate in far more listing-side commissions than buyer-side. With more buyers, you can even participate in both sides. Low Cost: You can have a beautiful, full-color magazine for less than the cost of a postcard! Just invite businesses you support to support you. We’ll manage ad production and billing to keep it easy on you. Expert Status: Regularly sending your own custom magazine to homeowners will brand you as a leader. Providing timely market updates will establish you as the neighborhood real estate expert. Engage Readers: People will look forward to your magazine. Quality editorial will engage them and create a bond. The shelf life of magazines is legendary, so your name and contact info will always be close at hand. Email: nick@yourhomepublishing.com and channing@ yourhomepublishing.com

provision “reflected the then widely accepted policy of ‘separate but equal,’ ” established under the Supreme Court’s Plessy v. Ferguson decision of 1896. Conser cited another Supreme Court ruling, 1947’s landmark Shelley v. Kraemer, as the beginning of the end of Article 34. That decision struck down states’ rights to enforce restrictive covenants—in this case, an agreement among neighbors to bar real estate sales to African Americans and Asians. It led the association in 1950 to remove all references to “race or nationality,” but the full article wasn’t removed until later. The Code underwent a complete revision in 1974, when a new provision—Article 10— brought it in line with federal fair housing and employment law; a 1989 revision factored in 1988 amendments to the federal Fair Housing Act; and in 2010, Realtors® moved beyond federal rules, adding a requirement for equal service and employment opportunity regardless of sexual orientation.

Sarasota Realtor® Magazine

JANUARY 2013

E DUCATION & E VENTS C ALENDAR Tuesday

Wednesday

Thursday

Friday

Dec. 31

Jan. 1

21 8 a.m. GRI 101

29 8 a.m. GRI 102 5 p.m. Sales Associate Pre-License

SAR CLOSED for New Year’s Holiday

9 a.m. iMapp 1 p.m. MLS Settings 3 p.m. Auto-Notification

9 a.m. Orientation 1 p.m. Code of Ethics

8 a.m. GRI 102

8:30 a.m. CID Board of Directors 5 p.m. Sales Associate Pre-License

8 a.m. CID General Membership 9 a.m. MLS Basic 1 p.m. Compliance 101 3 p.m. Adding & Modifying 5 p.m. Sales Ass. Pre-License

7:30 a.m. Toastmasters 9 a.m. Code of Ethics 1 p.m. Code of Ethics

7:30 a.m. Toastmasters 9 a.m. Emerging Leaders 12 p.m. RAJC Seminar: Should Realtors® Incorporate or Not?

23 11:30 a.m. 8 a.m. Smart Lunch GRI 101 9 a.m. Basic Agent Web Page Set-Up 10:15 a.m. Listing Tools 1 p.m. CMA (CE credit)

9 a.m. Waterfront Issues Seminar

8 a.m. Power Marketing (University Park CC) 9 a.m. MLS Basic 1 p.m. Compliance 101 3 p.m. Adding & Modifying Listings 8 a.m. Power Marketing (SAR) 12 p.m. Contracts Seminar 5 p.m. Sales Associate Pre-License

8 a.m. Power Marketing (SAR) 5 p.m. Sales Associate Pre-License

9 a.m. CID Commercial Marketplace

9 a.m. CID Commercial Marketplace (Manatee)

8 a.m. Power Marketing (SAR) 5 p.m. Sales Associate Pre-License

9 a.m. CID Commercial Marketplace

Feb. 1

8 a.m. Power Marketing (SAR) 5 p.m. Sales Associate Pre-License

9 a.m. CID Commercial Marketplace

Note: All events/classes are at SAR, except where noted

My Florida Regional MLS Training

The My Florida Regional MLS training classes are offered at no cost to MLS participants. All classes are HANDS-ON in the SAR Tech Center. Please register for all MLS classes at the MFRMLS website: http://mfrmls.com. Click on ‘Education and Training.’

Sarasota Association of Realtors®, Inc. 3590 S. Tuttle Ave. Sarasota, FL 34239

Monday

PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451

JANUARY 2013

12 10 8 6 4 2 0 Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12 May‐12

Jun‐12

Jul‐12

Days on Market

Aug‐12 Sep‐12 Single Family

Oct‐12

Nov‐12

Condo

250 200 150 100 50 0 Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Oct‐12

Nov‐12

Single Family

Sales Volume

Condo

$200,000,000 $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12

New Listings

Sep‐12

Jul‐12 Aug‐12 Sep‐12 Oct‐12 Nov‐12

Single Family Condo

900 800 700 600 500 400 300

Sarasota Association of Realtors® MLS

200 100 0 Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

The Xtra Pages - Digital Version Only

Single Family Condo

Months of Inventory

Third Quarter 2012 Report Single Family Sales ‐ By Quarter

REO

Short

Market

1400 1200 1000 800 600 400 200 0 2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

* Homebuyer Tax Credit In Effect

Condo Sales ‐ By Quarter

REO

Short

Market

700 600 500 400 300 200 100 0 2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

REO

Short

Market

2012‐Q3

* Homebuyer Tax Credit In Effect

Single Family Median Sale Price $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

Condo Median Sale Price

2011‐Q4

REO

2012‐Q1

Short

2012‐Q2

2012‐Q3

Market

$300,000 $250,000

Source: Sarasota Association of Realtors®

$200,000 $150,000 $100,000 $50,000 $0 2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

Single Family Condo

REO Sales ‐ By Quarter 600 500 400 300 200 100 0 2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

* Homebuyer Tax Credit In Effect Single Family

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0 2010‐Q1 2010‐Q2* 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

* Homebuyer Tax Credit In Effect Single Family Condo

Market Sales ‐ By Quarter 1400 1200 1000 800 600 400 200 0 2010‐Q1 2010‐Q2* 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

* Homebuyer Tax Credit In Effect

Source: Sarasota Association of Realtors®

Annual Sales ‐ 2000 to 2011 Single Family Single Family

Condo

Total

11267 10562 9697 8224

8167 7603

7,596 7036

6533

6,841

6 504 6,504

6739

6358

6042

5,603

5,183

4,940 4,353

4,349 3 671 3,671

3,193 2,184

2,096

5820

3 721 3,721

2,564 2,005

2001

2002

2003

2004

2005

5,938

4,626 3,922 ,

2,120

2006

2007

2,137

2,286

2010

2011

1,556

1,194

2000

5,466

2008

2009

Annual Median Sale Price ‐ 2000 to 2011 Single Family

Condo

$351,000

$342,000 $336,250

$272,500 $305,000

$226,000 $172,500

$303,000

$210,000 $163,000 $156,800

$230,000

$191,000

$142,000

$173,000

$132,300

2000

$301,225

$225,000

$191,000

$320,000

$160,000

$145,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$163,000

2010

$155,925

2011