Sarasota Realtor Magazine - May 2010

MAY 2010

Visions on Video Association launches new multimedia web communication portal Page 6

Contents

Sarasota Realtor® Volume 7, Issue 5 MAY 2010

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

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SAR TV Is Here!

Final touches were made in April, and the newly rebranded Video Weekly Update launched on May 3rd, 2010 as SAR TV! Be sure to watch your weekly emails and the web site!

10 A Trip to Tallahassee

Local real estate professionals visited the state capitol in early April for the annual Great American Realtor® Days event - a great opportunity to visit legislators and be heard.

12 Senior Benefits

There are a number of exemptions available to local seniors when it comes to property appraisals, and Property Appraiser Bill Furst offers this informative explanation.

15 Sales Skyrocket!

The March 2010 statistics were extraordinary, with the best

sales in the local market since December 2005.

Volume 7 • Issue 5 •MAY 2010

26 MFRMLS on Short Sales

4

What are the MLS rules and regulations when it comes to Short Sales? Check out this MFRMLS review.

Secretary Roger Piro Town & Country Realty Treasurer Laura Benson Michael Saunders & Company Immediate Past President William Geller RE/MAX Platinum Realty 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 Director of Member Services Dan Andrews

Governmental Affairs Director Marc Mansfield

12- Property Appraiser

Production Coastal Printing, Inc.

14- Ethics in Action

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 Visit SAR on Facebook at www.facebook.com/SarasotaRealtors

27- Broker Corner

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.

28- WCR News 30- Membership News

2010 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

32- Calendar of Events/Education

MAY 2010

President-Elect Michael Bruno Prudential Palms Realty

Director of Professional Development Catherine McCaskill

10- Governmental Affairs

25- On the SAR Scene

President Erick Shumway RE/MAX Alliance Group

Director of MLS Information Systems Jesse Sunday

In every issue

20- Education Programs

2010 Officers

Sarasota Realtor® Magazine

www.sarasotarealtors.com

SAR seeks prospective leaders for 2011 and beyond In just a few months, SAR members will vote to elect the Officers and five new Directors to represent them in 2011, along with the Directors whose terms carry over.

Through our new leadership program and other efforts, SAR has been striving to identify and train new leaders that reflect the diversity of the SAR membership. Our business model is constantly evolving, adapting to new paradigms and anticipating what we need to do next in order to not only survive, but thrive, and remain a strong, viable organization and the Board of Choice for our members.

Would you, or someone you know, consider a nomination to one of the elected positions? During the three-year term, beginning January 1, 2011, one of your

most important responsibilities as a Director would be to participate in the development of policy and major decision-making at monthly Board meetings. Service on a committee or task force as well as participation in Association events are also key to being an effective leader.

We have posted information on our website to help guide you in this process. You can visit our website at www.sarasotarealtors.com and look for Leadership Nominations under Hot Topics on the front page If you wish to be considered as a candidate for the Board of Directors, or an officer, please send in the nomination form located on the site by May 14th. If you have questions, please contact Kathy Roberts, CEO, at 3281170.

Thaxton to speak at second SAR quarterly meeting

The second 2010 SAR Quarterly Meeting has been set for Friday, July 16th with lunch at noon at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Street, Sarasota.

The main speaker will be Sarasota County Commissioner Jon Thaxton, who will update SAR members regarding the controversial Amendment 4 proposal coming up on the November 2010 election ballot. SAR has joined various other local and statewide organizations in opposition to the amendment.

Commissioner Thaxton has publicly renounced the Amendment 4 proposal as a misguided attempt to control growth. A veteran of growth management issues for more than two decades, Thaxton has emerged as a vocal opponent of the amendment.

In addition to the main program, various awards will be handed out during the event. Several Realtor® Emeritus designees will be honored and presented with special pins by SAR President Erick Shumway.

The four SAR Scholarship award winners will be invited to the event. Each award is for $2,000, with two students chosen from the public (non-SAR related) and two from SAR member families.

SAR will also recognize Florida Realtor® Honor Society award winners. Finally, the graduates of the SAR Leadership Program will be recognized.

Registration for the event will begin in June, so be sure to watch the Weekly Update and the SAR web site for more details.

Jason Thurber is SAR Affiliate of the Month for May 2010 The May 2010 Affiliate of the Month is Jason B. Thurber.

A Rhode Island native, Jason relocated to Sarasota in 1993. He opened Integrity Mortgage Group, Inc., in 1996 and remains its President and Principal Broker Jason has more than 15 years of FHA/VA and Conventional lending experience, in addition to a 20-year background in consulting on real estate, construction, and budgeting.

Jason takes great pride in providing the highest level of advice and service for his clients while striving to always live up to the company’s name - Integrity Mortgage Group. www.sarasotarealtors.com

Sarasota Realtor® Magazine

Jason B. Thurber MAY 2010

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Cover Story 6

SAR TV Has Launched!

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Internet video multimedia communication helps get the word out Editor’s Note: The Video Age has definitely arrived, thanks in large part to the burgeoning popularity of Internet sites YouTube, Facebook, Google and many more that put the messages into easy-to -digest video snippets. NAR and Florida Realtors® have joined the cutting edge movement, and now SAR has put video at the forefront of the 2010 communication strategy.

Since mid-December 2009, SAR has produced a weekly Internet-based video and distributed it by email and through our web site. During the first quarter of 2010, we have refined and further developed the initial concept, and on May 3rd the launch of SAR TV revealed where this vision has led us.

Communication is certainly a vital element of our association, impacting virtually every area of interactions with our members, both Realtors® and Affiliates. The first newsletter, printed on association printers, was replaced in 2004 by a 32-page four-color, glossy monthly magazine, published and distributed by direct mail. The magazine was posted on our web site as a PDF version beginning in 2005, and another step forward was taken in 2009 with the first flip-leaf digital magazine, also on the web site. We are now offering members a choice of receiving a digital magazine only (in lieu of a physical mailing).

We refined the SAR web site in 2006, and have made frequent enhancements and modernizations to the web portal. The Weekly Update email, sent to members through Constant Contact on Monday afternoons, also began in 2006 and remains an extremely cost-effective method of keeping our members informed.

An SAR Facebook page and Twitter presence launched in 2009, and these new communication avenues have taken on a life of their own, reaching even more of our members in a new, high-tech way.

Now, video communication has been added to the mix in a major way. None of these various platforms for communication has replaced the others (with the exception of the magazine replacing the newsletter).

Each platform is meant to augment and enhance the others, and allow us to reach our members in as many ways as our members are communicating.

SAR started down the road of video production on a shoe-string budget, and we continue to closely monitor expenses in this area. Fortunately, with the maturation of web-based video, our costs have been kept to a bare minimum. Video equipment costs have dropped

MAY 2010

tremendously in recent years, and hosting of videos is provided free of charge through Facebook. Software used to produce the videos was purchased for less than $100, and lighting and a green screen was also very economical. We are presently refining the audio side of the productions, and through Jesse Sunday, or in-house videographer, SAR is constantly staying abreast of the latest video tools and tricks of the trade.

The launch of SAR TV is the beginning of the next phase of this evolution. This web page within our current site at www.sarasotarealtors.com/SARTV The page includes links to all of the SAR-produced videos, plus links to videos produced by the National Association of Realtors® (known as Realtor® TV) and Florida Realtors®). We are also constantly looking for other informative and educational videos to add.

This is a one-stop shop for all things video that relate to real estate, and it is all being provided at no additional cost to our membership.

But the video age isn’t just an observational platform for our members - it is highly interactive! We are continually seeking member participation in our weekly productions, from our committee chairs and members, to our leadership and directors, from Affiliates to brokers - everyone is part of the team, and if you’re a part of SAR, you’ll probably see your face and hear your voice on one or more of our videos!

We are also very open to ideas, suggestions, comments, and even criticisms. The recommended refinements so far have resulted in a shorter weekly video (down from 10 minutes to about 3 to 4 minutes), a greater variety of presenters, more light-hearted humor (although we diligently strive to maintain professional decorum and overall tone) and a greater emphasis on what SAR is planning for our members in the near future.

Be sure to visit our web site on Monday, May 3rd, or click on the link contained in the May 3rd Weekly Update email and watch SAR TV! We hope you enjoy the experience, and stay tuned as we make even greater enhancements in 2010 and beyond!

Sarasota Realtor® Magazine

www.sarasotarealtors.com

KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy

Call 941-366-1300 For A

FREE CONSULTATION Jefferson F. Riddell, Esq. (Board Certified Real Estate Attorney) Cynthia A. Riddell, Esq.

PowerDirector 8.0 (top two screen shots) is utilized to produce the SAR videos now posted at the SAR TV web page. You’ll also find links to Realtor® TV videos, as well as those produced by Florida Realtors®, in addition to other real estate-related videos from the Internet.

Riddell Law Group R L G

3400 S. Tamiami Trail, Sarasota, Florida www.toomuchdebtsarasota.com The hiring of a lawyer is an important decision that should not be based solely upon advertisements.

Before you decide, ask us to send you free, written information about our qualifications and experience.

Properly dispose of hazardous household waste

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How many times have you seen a garage, shed or utility room full of paint, fluorescent lamps, electronics and old chemicals at a listed property? Many of us have these same items at our homes, or we have seen them at homes of our real estate clients.

According to Alison Eggleston of Sarasota County’s Environmental Services and Hazardous Waste Management department, these and many more are collectively called household hazardous waste. They should not be poured down the drain or on the ground, or thrown out in the garbage.

Sarasota County residents are able to dispose of these items for free at one of the county’s three Household Chemical Collection Centers.

All too often with the higher numbers of foreclosures, these wastes are left behind for the new owners. The county hazardous waste staff recommends the homeowner clean out all the old products or wastes from the property prior to sale.

But when banks become the owners, this can become more difficult.

Not only are these an environmental hazard, Eggleston noted, but they also pose a potential health hazard. Passing the wastes from one person to another exacerbates the problem.

“Should a property not have a homeowner involved, such as in the situation of a bank-owned foreclosure property, then many times either a handyman is hired or a Realtor® offers to help clean up the property,” said Eggleston. “Whenever the wastes are being managed by someone other than the homeowner, this process then becomes a business transaction, and while the waste may still be brought to the county for disposal it may no longer be disposed of for free.”

Unfortunately, the good intentions of a Realtor® or a business person simply trying to make a living can end up creating a confusing and frustrating situation.

When a person who is not the homeowner disposes of the waste, the program called Project Green Sweep gets involved.

For more information, please call 861-5000 and ask for the Project Green Sweep Program. More information may also be found online: www.sarasotarealtors.com/GreenSweep.pdf The following is a list of some of the wastes found at residential properties that require special disposal: • Aerosol cans with contents: from hair spray to carburetor cleaner • Automotive fluids; used, contaminated or otherwise unusable; antifreeze, gasoline, oil, and other engine/ transmission fluids or additives • Batteries: lead acid (i.e. automotive, lawn mower), rechargeable (cell phone, power tools, camera, etc), button cell batteries from hearing aids and watches • Electronics; TVs, computers, cell phones, etc

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MAY 2010

• Fertilizer • Fluorescent light bulbs and ballasts • Herbicides • Household cleaners • Medications or pharmaceuticals • Mercury-containing items (i.e. HVAC thermostats, thermometers, barometers, etc.)

• Paints • Pesticides • Pool chemicals • Propane Tanks • Oil filters • Solvents: xylene, paint thinner, acetone, furniture strippers, etc.

• Any other “unknown” item (let us make the determination if it is hazardous)

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Who is eligible to participate in HAFA?

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Editor’s Note: This update is brought to you by the SAR Realtor®-Attorney Joint Committee. This month’s column is provided by Julie Horstkamp, Esq., of Berlin-Patten, PLLC. How does the Home Affordable Foreclosure Alternatives (HAFA) program apply to your clients and what is required?

HAFA was formed to provide a uniform process, deadlines, model forms with closing costs and net proceeds being approved up-front. Home Affordable Modification Program (“HAMP”) servicers must participate and adopt written guidelines under HAFA. HAFA’s objective is to help HAMP eligible borrowers avoid foreclosure.

Currently, HAFA only applies to first lien mortgages that are not owned or guaranteed by Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA, or a private label loan like E-trade or H&R Block.

Who is eligible to participate in HAFA? Basically, HAFA only applies to borrowers that qualify under HAMP meeting the following qualifications: 1. The property must be their primary residence, or vacant due to relocation or new employment; 2. Mortgage must have originated prior to January 2009; 3. Borrower is delinquent or default is reasonably foreseeable; 4. Current outstanding principal balance does not exceed $729,750.00; and 5. Borrower’s total monthly mortgage payment exceeds 31 percent of Borrower’s gross monthly income.

If eligible, servicers have to consider the borrower for HAFA within 30 calendar days after the first to occur, borrower: (1) doesn’t qualify for HAMP trial plan; (2) misses two (2) or more HAMP payments; (3) requests short sale or a deed-inlieu (“DIL”); or (4) fails to successfully complete HAMP trial plan. The servicer must determine minimum acceptable net

www.sarasotarealtors.com

proceeds the investor will accept. Once the borrower is approved under HAFA, the servicer will send the borrower the Short Sale Agreement (“SSA”). The borrower must sign and return to the servicer within fourteen (14) days of the effective date of SSA, along with a copy of the listing agreement if acceptable.

The SSA contains the minimum acceptable net proceeds and maximum closing costs allowed, and the Borrower has 120 days to sell the property.

Upon obtaining a contract that meets the SSA terms, the contract must be submitted within three (3) days from receipt, along with the Request for Short Sale Agreement (“RSSA”), the SSA, Buyer’s proof of funds documentation or pre-approval from Bank on Bank’s letterhead, and preliminary HUD for approval to the servicer. The servicer must issue approval within ten (10) business days, with closing to occur no earlier than forty-five (45) days thereafter unless the parties agree to an earlier closing date.

In the event the borrower receives a contract prior to qualifying under HAMP and HAFA, the borrower can still go through HAFA by submitting an Alternative Request for Short Sale (“Alternative RSS”), the contract, listing agreement and preliminary HUD. The servicer must then determine if the borrower qualifies for HAMP, and if so determine the minimum acceptable net proceeds just like the normal HAFA approval process listed in the preceding paragraph.

We recommend you contact a real estate attorney for proper guidance if there are any questions.

Sarasota Realtor® Magazine

MAY 2010

9

Governmental Affairs 10

SAR participates in Great American Realtor® Days at the Florida Capitol

By Marc Mansfield Governmental Affairs Director

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Led by SAR President Erick Shumway, several members of SAR and yours truly joined approximately 1,000 Realtors® from across the state to storm the Capitol on April 6th and April 7th to encourage our elected officials to move quickly on issues important to all Realtors®.

During our two day stay, SAR met with Representatives Keith Fitzgerald and Doug Holder and Senator Nancy Detert.

While budget, education and the proposed gambling compact were on the minds of everyone, Realtors® reminded legislators that work still needed to be done on The SAR contingent in Tallahassee for Great American Realtor® days, April Realtor® priorities for 2010 which 6-7, included (from left) Lee DeLieto, Jr., Erick Shumway, Nick Figlow, Marc include the following: Mansfield, Michael Bruno and Bill Geller.

Property Tax: Make Florida more attractive to first-time buyers, Appraisal Management Companies: Protect out-of-state buyers and business owners with property buyers and sellers from inaccurate home valuations by tax incentives for first time Florida homesteaders and requiring appraisal management companies (AMCs) assessment relief for non-homesteaded properties. SJR to register with the Department of Business and 1254/HJR 655 would offer a property tax break for all Professional Regulation. AMCs control virtually all persons applying for a Florida homestead exemption appraisal assignments in Florida. Many times, they for the first time beginning in 2011, even if they have exert improper influence on appraisers, which can lead owned a home in another state. The measure would to mortgage fraud. Registration is needed if fraud is to also lower the assessment cap on non-homestead be prevented. Support HB 303/SB 1552 & SB 2210. property from 10 percent to 5 percent per year.

Great American Realtor® Days provides an Property Insurance: Repeal the windstorm mitigation opportunity for Realtors® to get up close and personal rating disclosure set to take effect January 1, 2011. with area legislators. If you have not participated in this The disclosure fails to provide buyers with accurate event I strongly encourage you to do so next year. information about a property’s ability to withstand hurricane force winds. Windstorm inspectors are High percentage of SAR members voted in not certified and studies show their inspections yield March 16th special school tax election! inaccurate ratings 55-80 percent of the time. Support SB 2190/HB 545.

Voter registration and voter participation is a key goal in SAR’s annual strategic plan. On March 16th a Housing and the Economy: This is the year to special election (referendum) was held on continuation “scrap the cap” on the Sadowski Affordable Housing of the current school millage tax. The voter turnout Trust Fund. Economists expect documentary stamp county wide was 27 percent. SAR voter participation taxes to generate approximately $194 million in FY was an incredible 39 percent. Congratulations and 2010-2011, which could provide housing to thousands Thank You to all SAR members who voted on March of families, create more than 13,000 jobs and result in a 16th. $1.3 billion boost to local and state economies.

MAY 2010

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The SAR contingent meets with Florida State Sen. Nancy Detert (fourth from right) during the two-day trip to Tallahassee for Great American Realtor® Days. Several issues important to the real estate industry were brought to the attention of legislators during the annual sojourn to the capitol. Pictured are (back row) Gae Stewart, Rory Dubin, Marc Mansfield, Michael Bruno, Erick Shumway, Bill Geller, Nancy Detert, Tom Sponaugle, Nick Figlow and Darla Furst; (front row) Lee DeLieto, Jr. and Helen Moore.

NAR: New health plan helps Realtors®

The National Association of Realtors® (NAR) has a history of working with Congress to secure changes in the U.S. healthcare system.

As the national voice for a profession of predominantly self-employed workers in which 28 percent have no health coverage, NAR has worked to make health care available and affordable for members.

While the health insurance issue remains politically charged and court challenges to the new law are inevitable, the bill, signed into law by President Obama, contains some protections that Realtors® have requested. Not all benefits kick in immediately.

Those benefits include: • Who is covered. The new health care rules apply to individuals and families not already covered by an employer, self-employed individuals and families, and owners and employees of small businesses (those with 100 employees or less). www.sarasotarealtors.com

• Acceptance. Health insurance applicants cannot be turned down.

• Cancellation. People already covered by a health insurance policy cannot be cancelled.

• Pre-existing conditions. A common complaint among those without insurance was an inability to secure coverage if they had a pre-existing condition, which could be as simple as taking blood pressure drugs or insulin.

Under the new law, insurers must cover all applicants even if they have a preexisting condition.

Sarasota Realtor® Magazine

• Waiting periods. In addition to covering pre-existing conditions, insurers cannot accept an applicant but force him/her to wait a long time before coverage kicks in for that pre-existing condition.

• Past claims. A history of past health claims cannot be used to charge more for coverage.

• Women. Insurers cannot charge women more than men.

• Older people. Insurers are limited on how much they can charge older adults. Prior to the new law, some insurers agreed to cover older adults but sometimes quoted high monthly premiums for doing so.

NAR maintains a website page with information on the recently passed legislation. The page also includes background information and answers questions about other health care concerns shared by Realtors®.

Visit www.realtor.org.

MAY 2010

11

Property Appraiser

In Sarasota County, maturity has its property benefits - senior exemptions

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By Bill Furst, GRI, CRS, CRB MATURITY HAS ITS BENEFITS!

Sarasota County Property Appraiser

According to the Florida Department of Elder Affairs website, 3,238,423 people According to the Florida addition to any Senior Exemption aged 65 and older called Florida home in 2008. That’s almost 17% of Florida’s total Department of Elder Affairs website, granted by the municipality in which population. In 2008, 121,958 people over 65 made their home in Sarasota County.

3,238,423 people aged 65 and they live.

That’s 31% of our population!* Our citizens over 65 contribute significantly to the older called Florida home in 2008.

The City of Sarasota and the quality of life in our community with experience, perspective and service.

That’s almost 17 percent of Florida’s Town of Longboat Key have each

total population. In 2008, 121,958 adopted a Senior Exemption amount In 1998 Floridians acknowledged those contributions by approving Article VII, s. people over 65 made their home in of $25,000 that applies to the tax 6(d), of the Florida Constitution, allowing counties and municipalities to grant up Sarasota County. That’s 31 percent levies of those municipalities. The to $50,000 in additional exemptions to income qualified homesteaders who are 65 of our population! (See more info at City of Venice and the City of and older and apply for the exemption by March 1 of each year. Income qualified http://elderaffairs.state.fl.us North Port have not adopted a means that the total adjusted gross income of all residents of the homestead Our citizens over 65 contribute Senior Exemption. The following cannot exceed an amount published by the Department of Revenue every January. significantly to the quality of life table shows the estimated tax savings This year the adjusted gross income limit was $25,780. in our community with experience, resulting from this exemption based The Sarasota County Commissioners have adopted a Senior Exemption amount of perspective and service. on 2009 millage rates and the MATURITY HAS ITS BENEFITS! $5,000. This exemption applies to county tax levies and is available to all qualified In 1998, Floridians acknowledged potential tax savings that could be residents of Sarasota County, in addition to any Senior Exemption granted by the those contributions by approving realized if the maximum exemption According to the Florida Department of Elder Affairs website, 3,238,423 people municipality in which they live. The City of Sarasota and the Town of Longboat Key Article VII, s. 6(d), of the Florida was granted (See Chart Below). aged 65 and older called Florida home in 2008. That’s almost 17% of Florida’s total have each adopted a Senior Exemption amount of $25,000 that applies to the tax Constitution, allowing counties The benefits offered to qualified population. In 2008, 121,958 people over 65 made their home in Sarasota County. levies of those municipalities. The City of Venice and the City of North Port have andThat’s 31% of our population!* Our citizens over 65 contribute significantly to the municipalities to grant up to seniors vary from county to not adopted a Senior Exemption. The following table shows the estimated tax quality of life in our community with experience, perspective and service. $50,000 in additional exemptions to county. Charlotte County and its savings resulting from this exemption based on 2009 millage rates and the

income qualified homesteaders who municipalities do not offer a Senior potential tax savings that could be realized if the maximum exemption was are In 1998 Floridians acknowledged those contributions by approving Article VII, s.

65 and older and apply for the Exemption. Manatee County offers granted: 6(d), of the Florida Constitution, allowing counties and municipalities to grant up exemption byAdopted March 1 of eachCurrent year. a $25,000 exemption, with the Taxing Potential Tax Savings to $50,000 in additional exemptions to income qualified homesteaders who are 65 towns of Anna Maria, Longboat Key, Income qualified means that the Authority Exemption Tax Savings for $50,000 Exemption and older and apply for the exemption by March 1 of each year. Income qualified Holmes Beach, and Bradenton Beach total adjusted$5,000 gross income $20 of all Sarasota County $200 means that the total adjusted gross income of all residents of the homestead each offering a $25,000 exemption residents of the homestead $79 cannot City of Sarasota $25,000 $158 cannot exceed an amount published by the Department of Revenue every January. for their tax levies. exceed an amount by Longboat Key $25,000 published $54 or $43 $108 or $86 Desoto County This year the adjusted gross income limit was $25,780. the Department Venice

0 of Revenue0 every has adopted $150 the maximum $50,000

exemption January. This 0 year the adjusted North Port 0 gross $167 amount on county levies.

The Sarasota County Commissioners have adopted a Senior Exemption amount of The City of Arcadia had not adopted income limit was $25,780. $5,000. This exemption applies to county tax levies and is available to all qualified a Senior Exemption.

The benefits offered to qualified seniors vary from county to county. Charlotte The Sarasota County residents of Sarasota County, in addition to any Senior Exemption granted by the County and its municipalities do not offer a Senior Exemption. Manatee County And then there’s the so-called Commissioners have adopted a municipality in which they live. The City of Sarasota and the Town of Longboat Key offers a $25,000 exemption, with the towns of Anna Maria, Longboat Key, Holmes “Granny Flat” provision of the Senior Exemption amount of $5,000. have each adopted a Senior Exemption amount of $25,000 that applies to the tax Beach, and Bradenton Beach each offering a $25,000 exemption for their tax Constitution, Article VII, s. 4(f ), Thislevies of those municipalities. The City of Venice and the City of North Port have exemption applies to county tax levies. Desoto County has adopted the maximum $50,000 exemption amount on approved in 2002. levies and is available to all qualified not adopted a Senior Exemption. The following table shows the estimated tax county levies. The City of Arcadia had not adopted a Senior Exemption. residents of Sarasota County, in That amendment allows counties savings resulting from this exemption based on 2009 millage rates and the

potential tax savings that could be realized if the maximum exemption was And then there’s the so‐called “Granny Flat” provision of the Constitution, Article granted: VII, s. 4(f), approved in 2002. That amendment allows counties to provide for a Adopted Current Potential Tax Savings Taxing reduction of the assessed value of homestead property resulting from the Exemption Tax Savings for $50,000 Exemption Authority construction or reconstruction of living quarters for the 62‐years‐of‐age‐or‐older For more Sarasota County $5,000 $20

$200 parent/s or grandparent/s of the homestead owner, provided that the parent/s or information, City of Sarasota $25,000 $79

$158 grandparent/s are not claiming a residency linked tax benefit in any other state or Longboat Key $25,000 $54 or $43 $108 or $86 contact the Florida county. The value reduction applies to all taxing authorities in the county, Venice 0

0

$150 Property cannot exceed 20% of the total assessed value of the homestead, and applies only North Port 0

0

$167 Appraiser’s office to construction or reconstruction that occurred after January 7, 2003, the effective

at 941.861.8200. date of the legislation implementing Article VII, s. 4(f). Currently, of Sarasota and The benefits offered to qualified seniors vary from county to county. Charlotte its surrounding counties, only Manatee County offers the “Granny Flat” benefit.

County and its municipalities do not offer a Senior Exemption. Manatee County offers a $25,000 exemption, with the towns of Anna Maria, Longboat Key, Holmes 12 MAY 2010 Sarasota Realtor® Magazine *http://elderaffairs.state.fl.us Beach, and Bradenton Beach each offering a $25,000 exemption for their tax levies. Desoto County has adopted the maximum $50,000 exemption amount on county levies. The City of Arcadia had not adopted a Senior Exemption.

Articles, Statutes and Rules Governing Senior and “Granny Flat” Exemptions

Senior Exemption: Florida Constitution, Article VII, section 6(d)), approved November 3, 1998

§196.075 Florida Statutes, enacted July 1, 1999 implements A.VII s. 6(d), allowing an exemption up to $50,000 for qualified applicants when adopted by a county or municipality.

Articles, Statutes and Rules Chapter 12D‐7.0143, Florida Governing Senior and “Granny Administrative Code, adopted Flat” Exemptions December 30, 1999: rules for

applying the exemption.

Senior Exemption:

Florida Constitution, Article VII, “Granny Flat” Exemption: section 6(d)), approved Florida Constitution, Article VII, November 3, 1998 section 4(f), approved

November 4, 2002 §196.075 Florida Statutes,

enacted July 1, 1999 §193.703 Florida Statutes, implements A.VII s. 6(d), effective January 7, 2003 allowing an exemption up to implements A, VII s. 4(f) stating $50,000 for qualified qualification and application applicants when adopted by a requirements for the value county or municipality. reduction when adopted by a

county.

Chapter 12D‐7.0143, Florida

Administrative Code, adopted Chapter 12D‐8.0068 Florida December 30, 1999: rules for Administrative Code, adopted applying the exemption.

January 26, 2004: rules for

applying the value reduction.

“Granny Flat” Exemption:

Florida Constitution, Article VII, section 4(f), approved NEED A SPEAKER FOR YOUR November 4, 2002 MEETING:

§193.703 Florida Statutes, BILL FURST WILL COME AND effective January 7, 2003 TALK WITH YOUR GROUP AND implements A, VII s. 4(f) stating ANSWER YOUR QUESTIONS qualification and application

requirements for the value To set up an appointment call reduction when adopted by a our office at 941.861.8200 or county. email us at PA@SC‐PA.com

Chapter 12D‐8.0068 Florida www.sarasotarealtors.com Administrative Code, adopted January 26, 2004: rules for applying the value reduction.

In 2008, 121,958 people over 65 made their home in Sarasota County. That’s 31 percent of our population!

to provide for a reduction of the assessed value of homestead property resulting from the construction or reconstruction of living quarters for the 62-years-of-age-or-older parent/s or grandparent/s of the homestead owner, provided that the parent/s or grandparent/s are not claiming a residency linked tax benefit in any other state or Florida county.

The value reduction applies to all taxing authorities in the county, cannot exceed 20 percent of the total assessed value of the homestead, and applies only to construction or reconstruction that occurred after January 7, 2003, the effective date of the legislation implementing Article VII, s.

4(f ). Currently, of Sarasota and its surrounding counties, only Manatee County offers the “Granny Flat” benefit.

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www.sarasotarealtors.com

Sarasota Realtor® Magazine

MAY 2010

13

Ethics in Action

Improper marketing can get you in trouble

i

By Bruce Aydt Realtor® Magazine Online If you didn’t have a role in the transaction, don’t make it appear that you did.

Question: I recently acted as the listing agent for a neighbor who was selling her home. The buyer was represented by a salesperson from a different company.

After the transaction closed, a third real estate practitioner who had no part in the deal mailed a “Just Sold” flyer to households in the neighborhood. The flyer contained information about the house and the public synopsis from the MLS, along with that real estate practitioner’s contact information and an advertisement for his business. A letter accompanying the flyer also made it appear that he was the broker responsible for the sale, although he didn’t say that explicitly. Is this a Code of Ethics violation?

Answer: The key concept is whether or not the advertising presents a “true picture.” Article 12 of the Code says “Realtors® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.” Standard of Practice 12-7 amplifies the “true picture” test.

“Only Realtors® who participated in the transaction as the listing broker or cooperating broker (selling broker) may claim to have ‘sold’ the property.”

If the flyer and letter would lead a reasonable consumer to believe the Realtor® who sent the flyer actually “sold” the property, then likely it’s a violation of the Code.

Although sold properties and (usually) their sale price are public record, that doesn’t allow Realtors® to claim to have “sold” the property if they weren’t the listing or cooperating broker.

This standard also applies to newsletters. Case Interpretations 12-12 and 12-13 allow Realtors® to publish a list of sold properties in a “neighborhood newsletter” as long as that publication is consistent with local MLS rules and it’s clear to reasonable readers that Realtors® aren’t claiming to have sold any property where they weren’t either the listing or selling broker. Remember, the essence of Article 12 is “truth in advertising!”

Don’t Advertise It Without ‘Authority’ Presenting a true picture in advertising, marketing, and other representations is the key concept in the Code of Ethics.

Question: Would it be ethical for me to advertise a 14

MAY 2010

property that appears in the multiple listing service even if I’m not the listing agent? I’d like to include information about a particular property in a newspaper ad. But I’m wondering if I need to first contact the listing broker for permission?

Answer: Yes, you do. There are a couple of issues to consider here. When it comes to advertising, the key concept in the Code of Ethics is the “true picture” test.

Article 12 of the Code says, “Realtors® shall be honest

and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.”

Standard of Practice 12-4 goes one step further and requires “authority” to advertise a listing: “Realtors® shall not offer for sale/lease or advertise property without authority.”

Where does “authority” to advertise a listing come from? It starts with sellers giving the listing broker permission to advertise and market their property. That authority is generally established in the listing agreement.

The listing broker may have been given authority in the listing agreement to allow other brokers to advertise as well.

But just because the property appears in the MLS doesn’t mean that other brokers have any right or authority to advertise the listing in a newspaper or in other media, absent permission from the listing broker.

It should be noted that Internet Data Exchange rules of Realtor® association–owned and –operated MLSs enable listing brokers to give other participants blanket authority to advertise the listing broker’s listings on their Web sites. However, the authority granted under IDX rules does not apply to other media such as newspapers.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

o

Property sales skyrocket in March 2010; local real estate market appears strong

o

Overall property sales reached 753 of a market in full recovery, “This was the best month we have in the Sarasota market in March 2010, and should bring greater had in four and a half years.” - SAR the highest total since December appreciation for the overall President Erick Shumway 2005 and more than 56 percent median sale prices. higher than March 2009. Pending “This was the best month sales were also robust, standing at 1,060 - the highest total in we have had in four and a half years, and the numbers the past four years. But perhaps the most telling statistic was are very encouraging for our local real estate market,” said that the median sale price for both single family homes and 2010 SAR President Erick Shumway. “Local Realtors® have condos rose in March from the previous month, and prices obviously educated their clients on the pending expiration were much higher than in March 2009. of the homebuyer tax credits, and this has certainly helped Members of the Sarasota Association of Realtors® sold 555 promote sales. But we have also seen resurgence in sales across single family homes and 194 condos in March 2010, a huge the price spectrum – not just for first-time buyers. Hopefully, jump over March 2009, which saw only 353 single family the continuing growth in our nation’s economy will propel homes and 128 condos sold. Pending sales, at 1,060, were this market even higher this year.” about 30 percent higher than last March, when only 817 The property inventory level remained steady in March were reported. This statistic is a strong indicator for the next 2010 at 6,342, only slightly higher than February’s total of two or three months of sales, as pending sales reflect current 6,329 properties on the market. The inventory is still at the buyer activity. This also reflects the continuing push of SAR lowest level since late summer of 2005. members in the early spring months to qualify clients for The months of inventory for single family homes was homebuyer tax credits, which expire on April 30th.

7.2 months, the number of months it would take to sell all Median sale prices in the Sarasota real estate market were also available homes at the current pace. This was a huge drop up in March 2010 for both single family homes and condos. from February 2010’s number - 10.6 months – and very near The median sale price for a single family home was $170,000, equilibrium. Last year at this time, the months of inventory up 13.3 percent from February’s $150,000, and up 11 percent was 17.1 for single family homes. Once the market reaches the over last March’s figure of $152,125. For condos, the median 6 month level it is considered to be in equilibrium between price rose to $210,000 from last month’s level of $169,000, a buyers and sellers. For condos, the months of inventory level 24 percent increase. Last year at this time, the condo median was 11.8 months, the lowest level in several years, and far sale price was $166,750. For the last 12 months combined, lower than the 21.2 months only a year ago. the median sale price for single family homes was $162,950, while the median sale price for condos was $190,000.

Delving deeper into the statistics, homes in the lower price The level of distressed property sales dropped in March ranges have actually entered a “seller’s market,” with the 2010 to 41 percent of the overall market, compared to 47 month’s inventory supply at only 4.8 months for homes sold percent of the overall market in February 2010. This was another encouraging sign as the spring continued to heat between $60,000 and $70,000 so far in 2010, and only 6.6 up the local housing market. The downward trend in the months for homes sold between $120,000 and $139,999 in percentage of short sales and bank-owned foreclosure sales 2010. This is a likely reflection on the homebuyer tax credit in the Sarasota market, if it continues, would be a harbinger of $8,000 for first-time homebuyers.

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Sarasota Realtor® Magazine

MAY 2010

15

Sarasota MLSSM Statistics March 2010 Single Family Condo

Unit Sales 600 500 400 300 200 100 0 Mar‐09

Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Single Family Condo

Median Sale Price $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Mar‐09 Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct.09 Nov. 09 Dec‐09

Jan‐10

Feb‐10

Mar‐10

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

3,999

555

13.8

178

$170,000

$162,950

7.2

769

19.2

961

204

This Month Last Year

6,042

353

5.8

160

$152,125

$217,000

17.1

642

9.7

881

451

4,031

379

9.4

174

$150,000

$160,000

10.6

701

17.4

868

224

1360

‐

175

$157,250

‐

‐

2,043

‐

2,843

‐

Nov 94.1 ‐

Dec 94.2 ‐

Last Month YTD

‐

Single Family – Sale Price Vs. List Price % Rates

2009 2010

Jan 93.0 94.4

Feb 93.1 92.8

Mar 92.5 95.2

Apr 92.4 ‐

May 93.2 ‐

Jun 93.8 ‐

Jul 93.2 ‐

Aug 93.6 ‐

Sept 94.2 ‐

Oct 94.4 ‐

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of April 12th, 2010, 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

MAY 2010

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics March 2010 Single Family Condo

Inventory 8,000 6,000 4,000 2,000 0 Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09

Aug‐09 Sep‐09

Oct‐09 Nov‐09 Dec‐09

Jan‐10

Feb‐10 Mar‐10

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Mar‐09

Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Condo

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

This Month This Month Last Year Last Month YTD

2,343

198

8.5

206

$210,000

$190,000

11.8

291

12.4

388

197

2,714

128

4.7

186

$166,750

$256,000

21.2

175

6.4

345

269

2,298

149

6.5

206

$169,000

$185,000

15.4

266

11.6

326

255

‐

462

‐

206

$194,950

‐

‐

804

‐

1,102

‐

2009 2010

Jan 91.0 92.5

Nov 92.3 ‐

Dec 93.1 ‐

Condo – Sale Price Vs. List Price % Rates Feb 90.2 92.4

Mar 90.4 92.5

Apr 92.2 ‐

May 90.1 ‐

Jun 91.4 ‐

Jul 92.1 ‐

Aug 92.4 ‐

Sept 91.5 ‐

Oct 92.4 ‐

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

MAY 2010

17

CID (Commercial Investment Division)

Great American Realtor® Days Road Trip Tallahassee visit was a great opportunity to interact

f

18

By Lee DeLieto, Jr. 2010 CID President

For many of us, the term “road trip” conjurs up many different and exciting memories. Normally they bring us back to a time in college when all we cared about was socializing (partying) and not getting into trouble (arrested).

Personally speaking, I think I have matured just enough to stop pushing the limits of the law, but I can’t help but find myself in the midst of the social media Facebook hype.

Those of you who have befriended me will typically find my girlfriend Valarie’s scrumptiously mouthwatering meals posted nightly. But my most recent Facebook postings were more business in nature.

In addition to being President of CID, I also wear another hat as Chair for the SAR Public Policy Committee. With this seat, I was fortunate to be a part of the troop invited to attend this year’s Great American Realtor® Days.

As a newbie to this excursion, it suddenly occurred to me as we waited for the plane just how impressive a group I was a part of - all past, present or future Presidents of our Association: Judy Schomaker, Nick Figlow, Bill Geller, Erick Shumway, and Mike Bruno.

And later in the day we were joined by Darla and Bill Furst. Maybe this is telling of my future. And not to forget our amazing staff liaison, Marc Mansfield. Time and time again Marc’s attention to detail and guidance sets the bar and makes us look good. With Marc’s shared work with the Venice board, he was able to draw in a larger audience with board officers, Gae Stewart Tom Sponaugle and Rory Dubin. Marc, by the way, has written a piece on the actual issues we discussed in Tallahassee (See Page 10).

The intention of GARD, for those not familiar with the event, is a massive pilgrimage to Tallahassee to converge on the state’s capitol and meet with our local representatives.

Even though we were gone for only two days, both days were action packed. The following should give you an idea as to how efficient a schedule we were on: Day One: Due to limited direct flights out of Tampa, we had to meet up locally at 7:30 a.m. Tuesday morning; carpool to Tampa Airport and check in at 8:30 a.m.; get through security by 9:30 a.m. (note to self, don’t carry large bottles of mouthwash; TSA doesn’t like that); walk out on the tarmac to our twin prop puddle jumper at 10:40 a.m.; arrive in Tallahassee

MAY 2010

at 11:40 a.m.; taxi to the hotel to drop our luggage at noon (note to self, pack lighter); walk to registration, 12:20 p.m.; lunch, 1 p.m.; Orientation, 2 p.m.; check into rooms, 3 p.m.; block party, 5 p.m.; open bar, 5:05 p.m.; video of Nick dancing 6:30 p.m.; (this is where time warps for some of us); sleep.

Day Two: Breakfast, 7 a.m.; check out of hotel, 8:30 a.m.; meet with Representative Keith Fitzgerald, 9:30 a.m.; meet with Senator Nancy Detert, 10:15 a.m.; meet with Representative Doug Holder, 11:15 a.m.; lunch Noon; taxi to airport, 1:30 p.m.; check in 2 p.m.; hang out at airport bar, 2:15 p.m.; board flight out, 4:25 p.m.; arrive in Tampa, 5:20 p.m.; arrive back in Sarasota, 6:30 p.m.; home for hugs from Val and our Chihuahua, Desi, 7:15 p.m.

It does make one wonder why we would blaze through a 36 hour schedule such as above only to truly have less than two hours of quality meeting time to sit down and talk with our representatives. Honestly, I think Senator Detert said it best; it is one thing to be persuaded by heavily paid lobbyists for or against an issue, however, it quite another to have your own local constituents personally make the trek up and get some real face to face time. The quick statistic below may say it all.

According to Florida Realtors®, there are approximately 115,000 Realtors® licensed in the state. In 2008, the real estate sector (including leasing services) accounted for 18.3 percent of the state’s Gross State Product or the equivalent of $134 billion in transactions. Lawmakers recognize this incredible impact and likewise we, as Realtors®, recognize our lawmakers’ vital roles in establishing policy. With that kind of mutual recognition, its no wonder the capitol building was a buzz with activity.

Given the opportunity, I hope to make the trek again next year.

If you have questions, comments or topics for discussion, please feel free to write me at LeeDeLietoJr@MichaelSaunders.com

CID plans program for May 18th This month’s CID program will be held in the SAR Main Auditorium on Tuesday, May 18th at 8:30 a.m., and all CID members are invited to attend. Merri Jo Cowen, CEO of My Florida Regional (MFR) and Carlos Fuentes, MFR President, will give an update on MFCRE and also provide in-depth review on some of the new features available to MFCRE subscribers.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Are you fluent in ‘Commercial’?

When residential Realtors® should hand off the referrals

By Brad Lindberg CID Vice President

Living in a global economy opens doors to many opportunities for foreign investment. Having a background in international immigration and visa laws is a must, along with a background in cultural differences between the U.S. and the country of your client’s origin.

This coupled with completing the sale of the perfect house for your client will help you become successful in pursuing a commercial transaction for his business.

“Not so fast…Mon Ami!” You wouldn’t go to a cardiologist for a headache, and you wouldn’t go to a neurologist for chest pains. If you’re an expert in residential real estate, it doesn’t mean you’re an expert in commercial properties. You have to ask yourself, “Am I fluent in commercial?”

Selling commercial real estate is unique. It comes with its own lingo. There are more acronyms for zoning alone than one could imagine.

Yes, there are numerous zoning acronyms in residential, but there is a difference. If your client wanted to live in a gated community, you wouldn’t show them a prison. It would be very evident that the space doesn’t fit the need.

The same goes for commercial. For example, not all zoning will allow the type of use your client will need.

You can drive down the road and find the perfect fit. The client is ready to pull out the checkbook, pay full listing price and move in tomorrow.

Only one problem. The zoning will not allow the type of business for that location. Zoning comes in all colors and flavors - C, CI, CG, CM, CN, OPI, ILW, PUD, PID, HPIOD, etc. And that is just the beginning. You better know other commercial vernacular such as LOI, ITN, RFP, or NDA.

After you master that group of acronyms, you better understand ROI, CAP, BOMA, RSF, USF and maybe even what an IRB is.

Have I lost you yet? And all you thought you needed was a GRI designation. Agents who sell residential real estate are great at what they do. They have the inherent ability to see beyond the shag carpeting and the paneled walls. They can envision the kids playing in the spacious backyard after the car on blocks is removed. It takes a special person to articulate that for a client.

In commercial, the client is all about survival of their business. Emotion gives way to reality when business owners make their decisions. “Culture” is the understanding of the client’s business and growth strategy. Being “Fluent” is the ability to properly communicate that knowledge to the client.

Whether you are local or global, commercial transactions require the one trait recognized around the world, “Fluency in the language of business”.

2010 CID Officers & Directors Officers:

President: Lee DeLieto, Jr., Michael Saunders & Company President-Elect: Anthony Homer, Lakewood Ranch Commercial Vice-President: Brad Lindberg, Hembree & Associates Past President: Jag Grewal, Ian-Black Secretary: Tim Mapp, Mapp Realty Treasurer: Linda Emery, Michael Saunders & Company

www.sarasotarealtors.com

Directors:

Dave Altwies: Exit Gulf Coast Realty (1 year term 2010) Lori Conable: Osprey Real Estate (1 year term-2010) Eric Massey: Michael Saunders (2 year term - 2011) Mike Sporer: Interstate Commercial Brokers (2 year term - 2011) Diane Lee: Wagner Realty (3 year term - 2012)

Sarasota Realtor® Magazine

MAY 2010

19

Education Programs 20

GRI Course 2 offered in late May, June Title: GRI 2 Dates: May 24-26 & June 1-2 Times: 8a.m. to 5 p.m. (varies) Credits: 15 hours broker postlicense credit, or 11 hours continuing education Cost: SAR Members by 5/10/10: $275 Non Members by 5/10/10: $300 After 5/10/10: Add $25 Is it a coincidence that all the top producers in the Sarasota market have earned their GRI designation?

We don’t think so!

We think the education that you receive from the GRI program is the best anywhere in the country. Sign up today for GRI 2 starting on May 27. Here are the subjects: - Sales and Marketing (one day) - Personal Promotion (one day) - Appraising (one day) - Investments (half-day)

- Construction (half-day) - Elements of E-mail (half-day) The GRI designation is also available online at www.fargri.com.

But we would prefer to see you in class here at SAR! • Increase your knowledge. You’ll learn valuable information and techniques that can help you and your business.

• Professionals find the GRI designation a powerful tool for attracting and building new business.

• Expand your network of real

estate professionals to generate more leads.

• Develop skills and obtain knowledge to get better results with less time and work.

• Display your designation certification to illustrate your professionalism and expertise.

This GRI series is offered by Florida Realtors® through its Florida Realtor® Institute. All the instructors have been carefully screened for their knowledge of the subjects as well as for their teaching techniques— they’re the best real estate teachers in the state.

All 3 GRI Courses Can Now Be Taken Online. Don’t wait in line, go online! All GRI Courses are now available for GRI credit online through a special Florida Realtors® website: www.fargri.com.

Earn NAR Green Designation June 7-8

Title: NAR’s Green Designation (complete!)

- Core Course – June 7-8 Residential Elective: June 9 Instructor: Lynn A. Nilssen Time: 9 a.m. to 4 p.m.

Cost: Core Course $250 Residential elective: $125 Save $50 and sign up for both at $325 Green homes that are good for the environment while saving home owners money are in demand, and Realtors® are responding by enhancing their multiple listing services to showcase green homes and green features.

In order to earn the NAR Green designation, the student must successfully complete the Core Course and one of three elective courses.

• Green Residential Real Estate • Green Commercial Real Estate • Green Property Management Students who complete the Core Course receive a oneyear membership in the NAR Green Resource Council.

SAR is offering the Residential elective in conjunction with the Core course so you can knock out your designation quickly.

After taking this course, you will be able to: MAY 2010

•

Recognize the features that make a home or building green and resource efficient in construction or remodeling, use and operation • Inform customers and clients of the significance of LEED, Energy Star, and other rating systems • Discuss the cost-benefit of resource-efficient building and home systems, materials and land usage • Recognize, validate and respond to concerns and priorities of the green consumer, seller, buyer, tenant, builder, developer • Make the appropriate disclosures consistent with NAR Code of Ethics and state regulations • Describe the interrelationships of sustainable communities, Smart Growth, natural habitat conservation, New Urbanism and land planning.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Mark Your Calendars: 2010 Designation Courses

GRI 2 GREEN

May 24-26, June 1-2, 2010 June 7-9, 2010

CIPS Inst. June 21-25, 2010 GRI 3 July 26-28, Aug. 3-4, 2010

Be profitable in today’s real estate market Title: How to Grow Your Real Estate Business and Multiply Your Profits in Today’s Market Dates: May 27, 1 to 4 p.m.

Cost: FREE to SAR and MAR Members; $20 others The Sarasota Association of Realtors® is pleased to announce that Billion Dollar Agent™ and renowned industry trainer, Craig Proctor, has agreed to conduct a special training session especially for Sarasota Agents on Thursday, May 27.

Craig, who now makes Sarasota his home, not only topped the RE/MAX® International charts for 15 years (twice as #1 Agent Worldwide), he is also responsible for the biggest success stories in our industry, coaching over 30,000 agents from mediocrity to millions.

Who better to learn from than the agent who pioneered the industry’s mega-agent strategies. Craig will show you how to effortlessly increase your income – even in this challenging market -- while reducing your work week.

In This 3-Hour Session You’ll Learn: 1. How to Generate Leads Without Spending Money You Don’t Have: By using Craig’s easy-to-duplicate lead generation system you can completely eliminate all traditional prospecting and replace it with autoamted marketing systems that attract, screen, qualify and pre-sell prospects for you. The systems do your work while you eat dinner with your family uninterrupted by the cell phone. Watch your son play ball or get in a round of golf. With these systems you spend LESS on advertising (including FREE lead generation) yet attract more clients than agents with much greater visibility.

2. How to Turn Leads Into Sales: Generating leads is important, but many agents drop the ball because they lack an effective system to nurture future business. Craig will show you how to prevent prospects from slipping through the cracks. He will teach you exactly what to say to determine their timing and motivation, and how to compel the most qualified of them to want to meet with you.

3. Listing and Buyer Presentation Systems That Really Work: Learn how to compel buyers and sellers to sign a contract with you without using high pressure or manipulative sales techniques. You’ll learn what buyers and sellers really want vs. what most agents think they want, and how to obtain prime listings even if you’re competing against a discounter www.sarasotarealtors.com

or the seller’s best friend. The net conclusion to a compelling presentation is the prospect asking you “Where do I sign?” If you have to be a “closer”, your presentation simply isn’t strong enough.

4. The Best Strategies to Price Your Listings Right and Get Price Reductions: Learn exactly what to say and present to even the most stubborn homeseller to help them make the right decision and price their home competitively.

5. Advanced Internet Marketing: Learn the best internet lead generation strategies being used by Florida’s top agents.

6. How To Differentiate Yourself From Other Realtors®: Discover three easy ways to set yourself apart from other agents in your marketplace.

Seating is limited for this information-packed 3-hour event.

The session will be conducted at the Sarasota Association of Realtors®, 3590 S. Tuttle Avenue, Sarasota. This event is limited to the first 80 Realtors® to respond.

SAR members should register online at www.sarasotarealtors. com. Non-members should call Carolyn at 941-328-1157 for a registration form.

Sarasota Realtor® Magazine

MAY 2010

21

Get the scoop on social networking Intro to Social Networking & the Top Three Monday, May 17, 9 to 11 a.m SAR Members: $10; Others, $20 Instructor: Kevin McNulty of NetWeave The “social media” phenomenon has taken networking to a new level of complexity, offering us myriad choices and a frenetic pace.

There are now literally dozens of sites and services, and Nielsen predicts that social media will grow three times faster than all other types of Internet activity combined. Facebook alone has over 400 million users worldwide, and up-andcomer Twitter has grown 1300 percent over the last year!

Fortunately, it is not as hard as it sometimes seems to start developing meaningful, valuable networks in the virtual world.

This session will help new users make sense of it all, and aid current users in using their tools more effectively. Kevin will cover the “top three” — Facebook, LinkedIn and Twitter.

Kevin McNulty is the founder and president of NetWeave Social Networking.

NetWeave provides consulting services for a wide range of clients in Tampa Bay, including the South Florida Museum, Realize Bradenton, and Shapes Total Fitness. McNulty delivers a series of courses for the Manatee Chamber of Commerce, among other area organizations.

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CONGRATULATIONS! Dedication and hard work pay off!! We congratulate our members who have successfully completed the National Association of Realtors® designation and certificate programs, Graduate Realtor® Institute (GRI), Resort and Second Home Specialist (RSPS), and Certified International Property Specialist (CIPS).

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MAY 2010

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Michael Saunders & Company Sarasota Realtor® Magazine

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Become an MFRMLS pro!

Pre-registration is required for all MLXchange classes at www.mfrmls. com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot!

MLXchange Basic May 3, 24, June 1, 9 a.m. to Noon Learn the basic tools of MLXchange.

It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification.

Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work.

Mandatory session for all new users.

- Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information Entering and Updating Listings in MLXchange May 3, 24, June 1, 1:30 to 3:30 p.m.

This class is mandatory if you will be entering and 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.

- Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that have specific entries in the Rules and Regulations

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- Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch - easiest way to modify the listings Design Web Pages, Capture Leads May 12, 1:30 to 4:30 p.m.

One of the most crucial components in today’s real estate professional’s day-to-day business is capturing and handling leads along with time management. This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go hand-in-hand with a successful real estate business. iMapp - Interactive Tax and Mailing Labels May 12, 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.

- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones - Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches Creating Custom Reports May 18, 9 a.m. to Noon 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. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet,

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selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default Maximizing Your MFR Productivity Toolbox May 18, 1:30 to 4:30 p.m.

This class introduces the user to the often overlooked plug-ins and features that are designed to save you time and money, as well as adding an extra level of service to your customer.

- MongoFax—Fax any document directly to any email address in the world - RatePlug—Include mortgage options from your three favorite lenders for each listing - ShowingTime—Automate and document showing appointments - Kurio—Access MLXchange from your mobile phone. Good for buyers, too!

- RealBiz360—Create spectacular virtual tours with brilliant color and clarity for only $2 per listing for the basic package or $5 per month, with a one-time setup fee of $25 for the Gold upgrade, providing unlimited photos and virtual tours, which will automatically post your virtual tour into MLXchange, Google, Yahoo, Trulia, Oodle, Zillow and Homeseekers.

- Blue Dasher—Street-level Virtual Drive Technology lets buyers tour the neighborhood from their computer.

Helps you save time and gas, while impressing buyers and sellers. Plus, receive a FREE seven-day “test drive” and another FREE seven days of service by completing this course.

MLXchange Advanced May 25, 1:30 to 4:30 p.m.

Take MLXchange to the next level!

In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches.

- Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order

MAY 2010

23

On the SAR Scene

Friendly SAR faces getting involved!

Visit SAR on Facebook at www.facebook.com/SarasotaRealtors

SAR members are active, energized and out in force in the community! You can find hundreds of photos from our regular events at www.facebook.com/SarasotaRealtors Please visit soon and tag your friends and business associates!

Michelle Wynne, Debbie Smith, Christina Pitchford and Jaclyn Ohman at the April 18th Green Home Expo.

Sonia Hamouda and Stella Giudicelli at March 25’s Spring Fling Affiliate Social for Realtors.

Ellen Laura Esses, Rigo Riviera and Jose Colon at the March 23rd Affiliate Social.

Donna Evans and Dawn Cohen at March 25’s Spring Fling Affiliate Social for Realtors.

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MAY 2010

Eric Peters and Julie Hunnel at the April 20th HBA Green Day Social.

Sarasota Realtor® Magazine

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Distressed property totals heading down The end of the first quarter of 2010 may have been the turning point locally for the distressed property market, as the overall percentage of distressed property sales decreased to 41 percent in March 2010 from the previous high of 48 percent hit in January 2010.

The monthly figure has now dropped steadily throughout the year, and the median prices for distressed sales has been increasing for both condos and single family homes.

REOs, or bank-owned home sales, aand short sales are still near historic highs in the Sarasota market. But the lower figures and downward trend indicates that Sarasota is once again bucking the national trend toward higher numbers of foreclosures and short sales.

The first quarter distressed sale totals were slightly higher than the last quarter of 2009 (44 percent to 43 percent). But the January and February figures were the dominant reason.

The overall number of bank-owned sales actually reached their highest level in the first quarter of 2009 (specifically March 2009). At the same time, short sales began a gradual rise, reaching their highest level in the third quarter of 2009 (specifically September 2009). See the charts below.

In October 2009, these trends started to reverse, with short sales declining for both single family homes and

condos, while REO sales started upwards again.

There remains a large disparity between the prices garnered for arm’s length sales and prices for short sales and REO sales.

For example, the median sale price for single family homes sold at arm’s length during the first quarter of 2010 was $225,000. But the median for bank-owned homes was only $91,250, and the short sale median was only $150,000.

For condos, the difference was even more dramatic. In the first quarter of 2010, buyers paid a median of $68,879 for bank-owned condos, and $115,000 for short sales. But the median sale price was $275,000 for arm’s length condo sales.

The first quarter statistics continue to point to a market divided into three much different segments. But the decline in the numbers and percentages of distressed sales is finally starting to show up in the overall, blended median sales prices (see Page 15 article). Eventually, owners of wellmaintained homes in good neighborhoods will become the primary sellers, and the overall median sale price will rise as the bargain rack is depleted.

You can find more charts and analysis on the SAR web site under the Resources tab, Stats Xtra.

Single Family Sales ‐ By Quarter

REO

Shorts

Arm's Length

1200 1000 800 600 400 200 0 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1

Condo Sales ‐ By Quarter

REOs

Shorts

Arm's Length

500 400 300 200 100 0 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1

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Sarasota Realtor® Magazine

MAY 2010

25

MLS FAQ 26

Short sales: Is it active or pending?

Confusion on reporting the status of a short sale transaction continues to reign supreme when it comes to questions on My Florida Regional (MFR) MLS requirements. The MFR board of directors has now addressed the most recent “Hot Topic” on short sales.

Hot Topic: Short Sales & Right of First Refusal What do you do when you have obtained a short sale listing and have a contract between the buyer and seller but the bank needs to approve the sale price? According to the MFRMLS rules and regulations, you must mark your listing as pending within two business days.

Over the last several months, listing agents have been interpreting the Rules, “Section 15. Contingency Applicable to Listing”, as justification to leave a short sale with an accepted offer as “active.” This section of the rules and regulations states that a listing may only remain in active status when a contract to purchase contains a Right of First Refusal clause. Other contingencies such as “third party approval” do not apply to this exception. Further clarification has been recently added to clarify that Section 15 does not apply to short sale listings under any circumstances.

What is MFR’s Definition of a Right of First Refusal?

A Right of First Refusal is a contractual right that gives the buyer the option, according to specified terms, to perform under the conditions of the contract before the owner is entitled to enter into that transaction with a third party.

Example: Abe owns a house that he plans to sell to Bo for $1 million. However, Carl holds a right of first refusal to purchase the house. Therefore, before Abe can sell the house to Bo, he must first offer it to Carl for $1 million. If Carl accepts, he buys the house instead of Bo. If Carl declines, Bo may now buy the house at the proposed $1 million price.

Right of First Refusal does not apply to short sales; a right of first refusal exists when a third party has the right to acquire a property by replacing – or stepping into the shoes of - another buyer. The lender is not stepping into the shoes of the buyer – but instead is simply approving or disapproving the amount it will accept to release its mortgage lien.

Tip: If the seller of any property wishes to solicit back up offers (including short sale transactions that are pending), the listing must still be marked as pending within two business days of the signed contract; however, while editing the listing status, the option exists to choose “back ups requested” in the contract status field.

How Was This Decision Made?

Over the last year (and then some) a Short Sale Task MAY 2010

Force, the Policy Committee, the Board of Directors and legal counsel have been listening to member concerns and have wrestled with the pros and cons of short sale reporting requirements, compensation and issues such as the applicability of a short sale and the right of first refusal. They have heard all sides of the issues and have considered the rules and requirements from the National Association of Realtors®. They have spent countless hours in debate, ultimately arriving at the decisions that have been made or clarified in recent months. Each member of these committees recognized the varied opinions on the issues and understood that MFR needed to have sufficient guidelines to reduce the frustration of the members. They have worked collectively to bring forward MFR’s stand on these topics.

The rule change to clarify that short sales cannot be left active under the “Right of First Refusal” exceptions is only one of several recent changes. Please remember when you have a short sale listing to follow the MFRMLS Rules and Regulations: Article 4.1-1C: Short Sale Listings.

All members are encouraged to look at their short sale listings and make any necessary adjustments needed to comply with MFRMLS Rules and Regulations. Short sale listings that have an offer pending, but are currently active with terminology related to Right of First Refusal, must be changed to pending status.

MFR appreciates your assistance in bringing all listings into compliance. The goal is to keep your database as clean and consistent as possible. If you need assistance in updating your listings, please contact the help desk team at 1-800-686-7451; select option 1 to connect with one of our Help Desk Technicians.

If you have questions regarding any MFRMLS Rules and Regulations, please contact the Administration Department at 1-800-686-7451 or locally at 407-2188607; select Option 3 to connect to the Administration and Membership Department.

Sarasota Realtor® Magazine

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m

m

Realtor® Magazine Online

Sometimes, following the law goes hand-in-hand with effective marketing. Such is the case with the National Do Not Call Registry, says Denver real estate practitioner Jennifer Allan. Long before the do-not-call list, technology was changing the way that consumers want to interact with salespeople.

“All the law did was give salespeople a push into the 21st century,” says Allan, author of If You’re Not Having Fun Selling Real Estate, You’re Not Doing It Right (Bluegreen Books, 2010).

Here are Allan’s rules for reaching out to prospects without being a nuisance.

1) Leave people alone. Whether it’s their use of TiVo to skip the commercials or caller ID to avoid sales calls, people have made it clear they have little tolerance for being sold to. Even if they’re not on the no-call list, you risk irritating 95 out of every 100 people you call if you solicit their business with a cold call. And irritated people don’t refer business to you.

2) Get them to call you. People like to get to know you in a non-pressure environment, and then when they need something, they call you.

Social media is perfect for that. Use the Web to keep your real estate expertise front and center without

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making it explicit. Answer people’s questions in a way that showcases your expertise without trying to sell anything.

3) Keep it personal. When you blog and send e-mails to your sphere, only focus on real estate if you have a good story to tell: An interesting listing or a video clip of your interview with the local TV station are good examples. Mostly focus on things that can help people, like a reminder of street-

sweeping day so that they can move their car and avoid a ticket.

4) Go for the quality. When you cold-call, you play a numbers game in which you try to get five Sarasota Realtor® Magazine

leads for every 100 calls. Rather than go for the quantity, and risk alienating people, go for the quality.

Get outside, meet people, and form relationships that your new contacts will value. “Get out in the world with your antennae up and a smile on your face,” Allan says.

‘Do Not Call’ Refresher • As of Jan. 1, 2005, telemarketers and sellers, including real estate practitioners, are required to search the do-not-call registry at least once every 31 days and drop from their call lists the phone numbers of registered consumers.

• The law allows calls to “existing customers,” defined as people with whom you’ve done business in the last 18 months.

• You can call FSBOs on the list only if you have a buyer for their home, not to solicit their listing.

• There is a safe harbor for inadvertently calling someone on the list if your company has written procedures on calling, provides training on do-not-call regulations, has accessed the national registry within the last three months, and maintains a company-specific list of numbers not to call.

MAY 2010

Broker Corner

‘Do not call’? How do you reach?

27

WCR 2010 proving to be ‘best year ever’

By Karen Grant 2010 WCR President

t

This is becoming the “Best Year Ever”. Our membership team under the guidance of our Vice President of Membership, Marianne LeBar, set goals for her team and has already far surpassed expectations for the membership drive. The member mixers were a success with good food, networking, renewing of members and new members coming on board.

Congratulations to the following new members for the month of March: Roberta Tengerdy—Sothebys; Terry Hayes—Sothebys; Jo Rutstein—Sothebys; Cindy Migone—Sothebys; Tina Ciaccio—Penns Property Group; Mary Hellake— Michael Saunders & Company; Roxanne Foley—RE/ MAX Alliance; Jim Soda—Prudential; Vi Klee—Realtor; Beth Evans—Property Connections; Laura Benson— Michael Saunders & Company; Beth Affelbach— Michael Saunders & Company—Ritz Carlton; Kristina Talkie—Michael Saunders & Company—Siesta Key; Janice Carper—Michael Saunders & Company— Main Street; Peter Salesfsky—Michael Saunders & Company—St Armands; Donna Elmore—Herrli-Elmore Realty; Patti Piper—Michael Saunders & Company— Siesta Key; Erick Shumway—RE/MAX Alliance; Anne Weintraub—Syprett Meschad; Joan Stanton—Fifth/ Third Bank WCR welcomes new members throughout the year.

If you would like to be a guest, join or want more information about our organization please contact one of our line officers listed below.

Several of our members recently attended a Summit in Chicago. The event focused on the cutting edge trends and technology tools that are a “must haves” for today’s wired agents. The keynote speaker gave an up-to-the minute 2010 economic and housing outlook. A powerful panel of experts discussed how to profit in this changing market. The summit also included programs on building your business through social media, how to increase your rate of lead conversion and creating a short sales marketing plan. All members are invited to attend these conferences that occur throughout the year.

GOOD NEWS! Sarasota WCR chapter will be honored with the Chapter Excellence Award for 2009. This award recognizes chapters that provide superior member value that best contributes to the mission and goals of the organization. The award is given on a point system in

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areas such as membership, recruiting, retention, leadership development and chapter effectiveness. Our 2009 chapter president, Janice Litke, along with this year’s line officers will be accepting this award on behalf of our chapter in Washington, DC the middle of May. Our April program was a “Young Producers Panel” with Christina Pitchford, monitor ; Valarie Wadsworth; Anthony Homer and Dave Beachy as the panel. They contributed talking about their experience, involvement, unique perspective and insight into the local real estate market.

Check out our website: www.SarasotaWCR.com and find out about our upcoming events. Save the date, September 15th for our fabulous Fashion Show at the Polo Grill. I hear it has something to do with diamonds.

Last year’s fashion show was sold out!

WCR 2010 Programs May 7, 11 a.m., Lakewood Ranch Country Club: “Honoring Past Women’s Council Presidents” (Joint Meet with Manatee WCR June 25 - District XIII & V Forum, President Nan Harper, Keynote Speaker July 9, 11 a.m., Laurel Oak Country Club: “Lynn McDonald - Topic TBA; Election of 2011 Officers Aug. 13, 11 a.m., University Park Country Club: “Legislation That Affects Florida Realtors - Ron Reagan, Speaker Pro-Tempore, FL House of Representatives Sept. 15 - Fashion Show - Polo Grill Oct. 8, 8:30 a.m., Bird Key Yacht Club: Program TBA Nov. 12, 11 a.m., University Park Country Club: Award Ceremony and Farewell Dec. 10: Installation of 2011 President and Board, Sarasota Yacht Club

Sponsors Gold: University Park Lifestyles, Inc. Silver: Lakewood Ranch Communities, LLC

Neal Communities

Starr Title Insurance Services, Carrie

Rummery Bronze: Regions Mortgage

BB&T Oswald Trippe - Joe Sikora

Silver Fox Pest Management

MGA Insurance Group

Southern Trust Financial Planning

Intutive Interiors, Debra Bois

2010 Line Officers

Karen Grant President Michael Saunders & Company Cell: 941-504-4952 karengrant@michaelsaunders.com

Marianne LeBar Vice President of Membership Michael Saunders & Company Cell: 941-650-0337

mariannelebar@michaelsaunders.com

Leslie Lauritano Recording Secretary Regions Bank Cell: 941-504-1028 leslie.lauritano@regions.com

Cindi Jackson President-Elect Exit Realty Signature Properties Cell: 941-400-6091 cindi_title@yahoo.com

Sharyl Smith Treasurer Bank of Commerce Cell: 941-374-06302 ssmith@bankofcommercefl.com

Melia Favorite Corresponding Secretary Iberia Bank Mortgage Cell: 941-807-0303 melia.favorite@iberiabankmortgage.com

MAY 2010

Sarasota Realtor® Magazine

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Title: CIPS Institute (Certified International Property Specialist) Dates: June 21-25 Location: SAR Main Auditorium Instructors- David Lauster, CIPS, David Wyant, CIPS Cost: SAR members $125 each, or $499 for the series (a $126 discount); $575 for non-SAR members (a $50 discount) This Institute will be one of the first to be offered after NAR compresses the courses for the designation from 7 days down to 5, effective June 2010.

The low price for the complete designation is possible because of NAR’s Right Tools, Right Now program which has been extended through 2010, and also because the program has been shortened by two days. Get your CIPS designation while the price is the lowest you’ll ever see!

The complete series of classes leading to the CIPS designation is $499 for SAR members, a $126 discount.

The complete series is $575 for non-SAR members, a $50 discount.

CIPS Institutes concentrate five of the required international CIPS courses into a 5-day format, allowing students to save travel costs and to complete the program quickly.

June 21: International Real Estate for Local Markets: Analysis of the international real estate business environment, government regulations and cultures. The practical aspects of international brokerage, networking, marketing and selling are discussed (Lauster) June 22: Investment & Financial Analysis for International Real Estate: Provides the tools needed to present investment information to international clients—in their currency and area. HP-10B calculator required. (Lauster) June 23: Europe & International Real Estate: Provides information on working with clients in Western and Central Europe. The European Union and its impact on international real estate are covered, along with economic and real estate trends, networking and relationship building, plus marketing and selling practices (Lauster) June 24: Asia/Pacific and International Real Estate: Covers real estate practices in Asia and the Pacific with emphasis on cultural influences, economic trends and assessment of investment opportunities. A special chapter on working with the Japanese is included (Wyant) June 25: The Americas & International Real Estate: Practical information for professionals who work with Caribbean, North, Central and South American

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investors. Historical and cultural influences, regional relationships, and investment opportunities are covered along with a special focus on Mexico (Wyant) David Lauster, a licensed real estate broker since 1985, has earned five NAR designations and is the recipient of numerous achievement awards, including CIPS Instructor of the Year in 2005. He has lived on three continents and is fluent in French, Spanish and German.

David joined the U.S. State Department’s directorate of Overseas Buildings Operations in 2004, and has risen to the position of Branch Chief for Property Acquisitions worldwide, involved in the purchase or leasing of commercial space, land and housing for new embassies and consulates in more than 70 nations.

David Wyant has represented multiple international corporations on every continent. He has lived, bought, sold property and operated his own company internationally.

He has taught and lectured across the world on topics ranging from marketing and strategy development to international finance and business planning. David serves NAR as a faculty member for the Certification as an International Property Specialist (CIPS) and is a Florida licensed Real Estate Instructor and Broker.

Special Pricing—Save and take the entire series!

- $125- International Real Estate for Local Markets - $125- Investment & Financial Analysis - $125- Europe & International Real Estate - $125- Asia/Pacific & International Real Estate - $125- The Americas & International Real Estate - $499- Entire Series (SAR Members only, $575 nonSAR members) leading to CIPS designation—June 21-25

Sarasota Realtor® Magazine

MAY 2010

International Real Estate

CIPS designation discounted in June

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Membership News 30

The Association is pleased to welcome new members!

Designated Realtors®

Hagan, Pamela: Prudential Palms Realty Hill, S Mark: Peens Property Group Inc. Hernandez, C. Maria: Florida Sunquest Realty Inc. Johnstone, Jane: Sarasota Home Realty McGreevy, A Brian: Sarasota Home Realty Paschel, Keller Christie: Estates Realty of Sarasota Inc. Jurney, Ralph: Horizon Realty International Kearney, Kitt: RE/MAX Alliance Group Townsend, A. Gayle: Gulf Coast Appraisals Inc. Kirkpatrick, Yolanda: Keller Williams Lakewood Ranch New Members Leffel, Nell: Michael Saunders & Company Amann, Paul: Bosshardt Realty Services Inc. Boothby, R Antonio: Michael Saunders & Company Lopez, Manuel: CareFree Realty Inc. Maltz, Harriet: Michael Saunders & Company Bush, Brian: American Prop Group of Sarasota Marquard, Janice: RE/MAX Alliance Group Chartier, Mike: Horizon Realty International McFarland, Marci: Michael Saunders & Company Ciaccio, Tina: Peens Property Group Inc. Pantyuxin, Alexander: Top Realty Group of Florida Dallou, Harold: Coldwell Banker Res R E Piper, David: RE/MAX Alliance Group Dempsey, Mary: Coldwell Banker Res R E Reason, Roger: Century 21 Sorrento Realty Duchesneau, La Nae: Listing Services Direct Rigby, E Lynn: Wagner Realty Galford, Gregory: RoseBay Real Estate Inc. Riley, Mark: Luxury Estates International Gamble, Darlene: Signature Sothebys Internat’l Ruiz, Robert: Horizon Realty International Green, Courtney: Signature Sothebys Internat’l Szabo, David: 41 West Realty Group Inc. Howard, Carla: Cristello and Co Real Estate Taulbee, Judi: Michael Saunders & Company Jones, Jessie: USA Realty Partners Inc. Totonis, Charles: Signature Sothebys Internat’l Kayajian, Gail: Gail A Kayajian License Broker Koolkin, Michael: Keller Williams Lakewood Ranch Turner, Marcus: Wagner Realty Vollmer, Helene: Keller Williams Lakewood Ranch Lance, Cynthia: RE/MAX Tropical Sands von Lazar, Nancy: Prudential Palms Realty Ledford, K Scott: Coldwell Banker Res R E Voorhees, Sally: Horizon Realty International Maltz, Harriet: Michael Saunders & Company Waterman, Monica: RE/MAX Alliance Group Newmark, Ronald: Horizon Realty International Young, Margaret: Sarasota Beach Rentals Plummer, Matthew: James Buchanan Realty Yturraspe, Jo Ellyn: Prudential Palms Realty Potts, Krista: RealtyOne Florida Prentice, Katherine: Allison James Estates & Homes Stalnaker, Julie: Cristello and Co Real Estate New Affiliates Stavola, Laura: Neal Communities Realty Inc. Serbin Printing Inc. Strzepek, Cary: Coldwell Banker Res R E 1500 N. Washington Blvd.

Swenson, Vicki: Associates Realty Inc. Sarasota, FL 34236 Tresidder, Brian: Omega Real Estate Group LLC Phone Number: 941-366-0755 Watkins, Samuel: Coldwell Banker Commercial Representative: George Rawlings NRT Specialty: We started our business in January of Weaver, Lisa: EXIT Creative Realty 1971 with a desire to offer outstanding quality Wilson, Douglas: Atera Real Estate Services LLC printing and unequaled customer service to our clients. Throughout the years of never ending Now With ... expansion, we have never forgotten our original Ali, Fuad: Blakeley & Associates Realty goals and commitment to our customers. We Burtwell, Stephanie: RE/MAX Alliance Group continue to purchase the best printing equipment Calderaro, Diane: RE/MAX Alliance Group available to give us every competitive advantage Campbell, Lori: Allison James Estates & Homes in the marketplace allowing us to provide you Coleman, Deborah: Luxury Estates International with quality work in the time frame needed at Cox, Heidi: Michael Saunders & Company competitive prices. In addition, we continue to DiSalvo, Amy: Allison James Estates & Homes add new product lines and services to give you Esses, Ellen Laura: Xena Vallone Realty Inc. every option you need to be successful with Frost, Jim: Wagner Realty your marketing needs. We have always been Gager, Troy: Sandals Realty of Sarasota on the leading edge when it comes to adding Gallagher, Diane: Wagner Realty additional services; like in-house graphic design Glenn, Olga: Jennette Properties Inc. services, a web-to-print solution for digital and Grant, Karen: Michael Saunders & Company variable data printing, U.V. coating, a dedicated Haas, David: Michael Saunders & Company

MAY 2010

Sarasota Realtor® Magazine

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publishing department and a full-service mailing facility to compliment our robust offset printing, bindery and finishing departments. Please visit our Customized Online Print Studio (COPS) for SAR members at www. serbinprintingdirect and get a 30 percent discount for online printing services.

Email: grawlings@serbinprinting.com

Accurate Health&Financial Svc.

2080 Ringling Blvd.

Sarasota, FL 34237 Phone Number: 941-951-0174 Representative: James Giuffra Specialty: Leading Florida All Purpose Insurance Group.

Specifically, Health Insurance Specialists for Professionals, Self-Employed, and Small Business. We directly represent every major carrier. We have multiple offices and a large number of representatives to service your every Health Insurance need.

Email: jgiuffra@accurate-health.com

HomeTeam Inspection Services

P.O. Box 7454 North Port, FL 34293 Phone Number: 941-316-0557 Representative: Thomas Mahoney Specialty: Owner Tom Mahoney has 35 years of experience in the construction industry and brings with him a comprehensive knowledge of all components inspected. These years of experience have all been in Florida so Tom’s knowledge encompasses the construction elements that are specific to Florida. The HomeTeam “Crew” in Sarasota and Manatee counties consists of Certified and Licensed inspectors in the following areas: Wood Destroying Organism, Heating and Cooling, Security Systems, Septic Systems, Dock, Davit and Boat Lift Systems, and Pool and Spa Systems. Our HomeTeam is comprised to meet the needs of the property being inspected and to perform a complete inspection in a timely manner.

Email: ht50@hometeaminspection.com

KB Home

9102 Southpark Ctr Loop #100 Orlando, FL 32819 Phone Number: 407-587-3593 Representative: Mary Ann Keller Specialty: Only KB Home offers it all to your clients: our one-of-a-kind Built to Order™ experience; a wide selection of choices at the KB Home Studio; incredible construction quality backed by our industry-leading 10-year limited warranty; money-saving energy efficiency; and so much more—all at an amazingly affordable price.

KB Home is committed to customer satisfaction. We will go the extra mile for you, ensuring that all facets of your new-home experience meet the expectations of KB Home and you, our valued customer. www.sarasotarealtors.com

Email: mkeller@kbhome.com

P3 Inspections

5020 Clark Road, Suite 430 Sarasota, FL 34233 Phone Number: 888-878-5277 Representative: Stephen J Karp Specialty: Professional Home Inspections. Licenced, Insured and Bonded Email: p3inspections@gmail.com

Prospect Mortgage

2033 Main Street, Suite 501 Sarasota, FL 34237 Phone Number: 941-554-8113 Representative: Bob Ward Specialty: As one of the nation’s largest independent residential retail lenders, Prospect Mortgage has greater control over your transaction and is able to quickly approve and close loans in-house. In fact, we are able to fund loans that other lenders might deny. Our highly experienced Loan Officers take the time to carefully listen to you and understand your goals, and then provide a consultative approach to helping you find the right loan.

That’s why we offer a vast array of loan programs that most other lenders can’t match. It’s all about finding the right loan for you. We offer a variety of home loan solutions including first-time homebuyer programs with down-payment assistance, FHA and VA, conventional, jumbo and super jumbo, reverse mortgages and more!

This means you can rest assured that we’ll provide you with a competitive loan that meets your unique needs.

Email: bob.ward@prospectmtg.com

Yoder Homes & Remodeling

6979 74th Street Circle East Bradenton, FL 34203 Phone Number: 941-758-4028 Representative: Walter Beer Specialty: Yoder Homes is a well-established residential and commercial remodeling company offering custom designs, complete home improvement and renovation projects, based in Sarasota, FL. Yoder Homes & Remolding is Florida State Certified and insured. We Provide: High integrity management, delivering a maximum level of quality craftsmanship, design, and finishing. We want to earn the opportunity to show why “You Can Trust Our Experience”. We Specialize In: Residential and Commercial condo renovations, room additions, and major/minor repairs. We also focus on custom kitchens, bathrooms, cabinetry & custom built-ins. We Serve: Manatee County, Sarasota County, including Lakewood Ranch, Longboat Key, Siesta Key and Venice.

Email: walter@yoder-homes.com

Sarasota Realtor® Magazine

MAY 2010

31

S ARASOTA A SSOCIATION OF R EALTORS E DUCATION /E VENTS C ALENDAR Tuesday

Wednesday

Thursday

4

5

6

7

10

11

12

13

14

9 a.m.– 4 p.m.

New Member Orientation & Code of Ethics

17

7:30 a.m.

Toastmasters 8:30 a.m.

Affiliate Event-Panel of Pros

9 a.m.

8 a.m.

Green Seminar Power Marketing 9 a.m.

(SAR) MLXchange - iMAPP 1:30 p.m.

MLXchange - Design Web Page 5:30 p.m.

SYR Social - Urban Reef

18

8:30 a.m.

CID General Membership 9 a.m.

MLXchange - Creating Custom Reports 1:30 p.m.

Toolbox

24

8 a.m.

GRI 2

9 a.m.

MLXchange - Basic 1:30 p.m.

MLXchange - Entering & Updating Listings

31 SAR Office Closed Memorial Day

8 a.m.

Power Marketing (University Park CC)

25

8 a.m.

GRI 2 9 a.m.

Creating a CMA 1:30 p.m.

MLXchange - Advanced 5 p.m. Affiliate Social

June 1 9 a.m.

GRI 2

9 a.m.

MLXchange - Basic 1:30 p.m.

MLXchange - Entering & Updating

19

20

7:30 a.m.

Toastmasters 12 Noon

8 a.m.

Power Marketing (SAR)

26

27

Procuring Cause Seminar

9 a.m.

8 a.m.

Power Marketing (SAR) 1 p.m.

Craig Proctor Seminar

2

3

GRI 2

9 a.m.

GRI 2

8 a.m.

Power Marketing (University Park CC) 1 p.m.

Craig Proctor Seminar

$300,

$200,

$150,

$100,

9 a.m.

CID Commercial Marketplace

$50,

9 a.m.

CID Commercial Marketplace

$500, $450, $400, $350, $300, $250,

21

$200, $150, $100, $50,

9 a.m.

CID Commercial Marketplace (Manatee Association of Realtors®)

28

9 a.m.

CID Commercial Marketplace

4

9 a.m.

CID Commercial Marketplace

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

My Florida Regional MLS Training

$350,

$250,

Friday

3

9 a.m.

MLXchange - Basic 1:30 p.m.

MLXchange - Entering & Updating Listings

®

The classes E & U (Entering & Updating), Tools, Design Web Pages, MLX Intro, MLX Advanced, iMAPP, Custom Reports and CMA are all My Florida Regional MLS training classes offered at no cost to MLS participants. All classes (except E & U) are HANDS-ON in the SAR Tech Center. Please register for all MLS classes at the MFRMLS website: http://mfrmls.com. Click on “Training,” then “Quick Class Registration” and follow prompts.

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

Monday

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

MAY 2010

REO

Short Sale

Arm's Length

$350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2007‐1stQ 2007‐2ndQ 2007‐3rdQ 2007‐4thQ 2008‐1stQ 2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1

Condos Median Sale Price

REO

Short Sale

Arm's Length

$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2007‐1stQ 2007‐2ndQ 2007‐3rdQ 2007‐4thQ 2008‐1stQ 2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1

Source: Sarasota Association of Realtors®

The Xtra Pages - Digital Version Only

Single Family Median Sale Price

New Listings

Single Family Condo

1,200 1,000 800 600 400 200 0 Mar‐09

Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Months of Inventory 30.0 25.0 20.0 15.0 10.0 5.0 0.0 Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10

9‐Feb

9‐Mar

9‐Apr

9‐May

9‐Jun

9‐Jul

9‐Aug

9‐Sep

9‐Oct

9‐Nov

9‐Dec

Jan‐10

Feb‐10

Single Family

24.1

17.1

15.2

14.3

10.0

9.0

10.3

9.8

9.3

9.4

8.1

11.5

10.6

Mar‐10 7.2

Condo

28.5

21.2

19.1

19.0

16.1

16.9

20.5

15.1

15.0

14.6

12.3

14.7

15.4

11.8

Overall Sales Volume $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Mar‐09 Apr‐09 May‐09 Jun‐09 Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Single Family

$85,952,266 $100,562,897 $98,080,096 $124,493,410 $155,965,679 $93,852,581 $108,129,703 $106,634,831 $118,741,492 $138,311,391 $91,178,403

$90,615,651 $153,809,260

Condo

$35,987,736

$43,400,202

$42,750,598

$39,960,762

$52,908,252

$47,470,370

$37,933,125

$48,128,868

$46,426,400

$43,392,376

$56,455,335

$45,146,896

$67,589,008

Source: Sarasota Association of Realtors® MLS

Annual Sales ‐ 2000 to 2009 Single Family

Condo

Total

11267 10562 9697 8167 7,596 6533

7036

6,841

6,504

6739

6358

6042

5,603

5,183

4,940

4,626

4,353

4,349 3,193 2,184

2,096

5820

3,671

3,922

3,721

2,564

2,120

2,005

1,194

2000

2001

2002

2003

2004

2005

2006

2007

2008

1,556

2009

Annual Median Sale Price ‐ 2000 to 2009 Single Family $351,000 $305,000

$342,000

$336,250

$301,225

$303,000

Condo

$320,000

$272,500 $226,000

$230,000

$225,000

$210,000 $172,500 $142,000 $132,300

$145,000

2000

2001

$191,000 $173,000

$191,000

2002

2003

$160,000

2004

2005

2006

2007

2008

2009

Days on Market 300 200 100 0 Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10

Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10

Single Family

159

173

195

196

208

179

174

186

179

194

169

174

178

Condo

171

206

203

224

225

230

208

250

236

202

207

206

206

Single Family Sales ‐ By Quarter

REO

Shorts

Arm's Length

1200 1000 800 600 400 200 0 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1

Condo Sales ‐ By Quarter

REOs

Shorts

Arm's Length

500 400 300 200 100 0 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1

Sarasota Association of Realtors® MLS