MARCH 2011
GREEN is GOLD!
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Big Florida Realtors速 Open House Weekend March 26-27 - See Page 13!
America’s Builder Is
EVERYWHERE! 1
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OA K H u r S T
WA L K E r’ S C OV E AT r I V E r PL AC E
Single-family Homes from the upper $100s
941-479-4997
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Single-family homes from the mid $200s
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C OV E r E d Br I d G E E S TAT E S
r EGEnT L A K E
941-479-4937
941-312-5322
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Single-family homes from the mid $100s
SuG A r m I L L LAKES
Single-family homes from the low $100s
941-479-4937
4 OL d TA m PA E S TAT E S Single-family homes from the upper $100s
941-479-4971
5 ry E W I L dE r n E S S E S TAT E S Single-family homes from the mid $200s
941-567-6173
6 G r E y H AW K L A n dI nG
Single-family homes from the upper $100s
941-896-8816
7 L E G E n d S B Ay Single-family homes from the mid $300s
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941-312-5322
Single-family homes from the mid $300s
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PH I L L I PPI PI n E S Single-family homes from the mid $300s
941-312-5322
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OA K V I S TA S
Single-family homes from the low $200s
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941-312-5322
W lo o
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Single-family homes from the mid $300s
941-312-6470
13 L A n dm A r K E S TAT E S
Single-family homes from the mid $300s
941-312-5322
14 PA L m E r OA K S Single-family homes from the upper $100s
Move-In-Ready Homes Available Now! • 14 Communities in locations throughout Sarasota & Bradenton
A complete list of Move-In-Ready homes is available at HortonReadyNow.com For more information, please call 866.475.3347.
941-922-4969
941-567-4065
www.DRHorton.com/Sarasota
CGC1513647 Home and community information, including pricing, included features, terms, availability and amenities are subject to change without notice or obligation. Pictures are for illustration purposes only and will vary from the homes as built. Please contact a sales representative for details. Locations are approximate and not to scale.
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where
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Stonehaven
Sarasota Condos from the $100s 941-927-5721
Venetian Falls
Riverwood
941-408-8291
941-764-6660
Venice Attached Villas & Single-Family Homes from the $170s
Port Charlotte Carriage Homes & Single-Family Homes from the $150s
Ask about our 2011 REALTORŽ incentive program! Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CBC057850 Š2011 Centex Homes. All rights reserved. 1/5/11
Contents
Sarasota Realtor® Magazine Volume 8, Issue 3 MARCH 2011
Sarasota Association of Realtors®, Inc. 3590 South Tuttle Avenue Sarasota, Florida 34239 Phone: 941/923-2315 FAX: 941/923-0191 www.sarasotarealtors.com www.facebook.com/SarasotaRealtors
6
Green Vision
We all know saving our planet’s limited resources is vital
if we are ever going to acheive a sustainable future,
but how does “Green” relate to real estate?
SAR has interviewed the candidates for the March 8th City of Sarasota election, and we offer our recommendations for your consideration.
What is the law regarding Homestead Exemptions for married couples if the two spouses are not residing in the same residence for a period of time?
Volume 8 • Issue 3 •MARCH 2011
15 Market Strong
The January 2011 sales statistics remained strong as the market
started the new year on positive footing with a big jump in pending sales indicating brighter months ahead.
The CID is closely examining the methodology and delivery of commercial data for our members in 2011.
4
Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc.
Editorial Staff Director of Membership and Administrative Services Dan Andrews Director of Information Technology Jesse Sunday
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
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.
20- Education Programs 24- On the SAR Scene 27- Broker Corner 28- WCR
MARCH 2011
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.
Production Coastal Printing, Inc.
12- Property Appraiser
32- Calendar of Events/Education
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.
Governmental Affairs Director Marc Mansfield
10- Governmental Affairs
30- Membership
Chief Executive Officer Kathy Roberts
Director of Professional Development Catherine McCaskill
In every issue
29- Global Business Council
Treasurer Roger Piro Town & Country Realty
Director of Communications Ray Porter
18 Sharing Data
Secretary Dave Swenson EXIT Creative Realty
Immediate Past President Erick Shumway RE/MAX Alliance Group
12 Exemption Rules
President Michael Bruno Prudential Palms Realty President-Elect Laura Benson Michael Saunders & Company
10 City Election
2011 SAR Officers
Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24! Sarasota Realtor® Magazine
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. 2011 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.
www.sarasotarealtors.com
SAR offers scholarships to four local students Once again, the Sarasota Association of Realtors® is offering four scholarships, each for $2,000, to local students. Two scholarships will be awarded to students who are related to SAR members, and two to students who are not related to SAR members. For a complete 2011 scholarship application, please visit our web site - www.sarasotarealtors.com - and open the Hot Topic regarding scholarships. Please note - the deadline for submittals is MONDAY, MAY 2, 2011 - NO EXCEPTIONS! In addition to the web site, applications will be available at SAR, and will be distributed to all the local high schools. The SAR Scholarship Committee will review all complete applications and then hold personal interviews with finalists to determine the four awardees. All decisions of the committee are final. Recipients will be notified of the committee decisions by mid-May, and will be invited to attend the June SAR Quarterly Membership Meeting and receive a complimentary lunch at Dutch Heritage Restaurant, along with lunch for up to two family members.
Participate in April 12-13 Great American Realtor® Days It’s time to get ready for the 41st annual Great American Realtor® Days to be held in Tallahassee on April 12th and 13th. This is the opportunity for Realtors® across the state to be briefed on the most up-to-date legislative information and to meet with their Legislators. This year, you can join other local Realtors® from District 13 on a special chartered bus to Tallahassee. For more information please visit our web site -
www.sarasotarealtors.com - and look under the Hot Topics section. For further information, you can also contact Marc Mansfield, Governmental Affairs Director, at 328-1159 or marc@ sarasotarealtors.com. Visit www.floridarealtors.org for the latest information about the event. But don’t wait - hotal rooms fill up quick for the annual trip.
Sherri Spanos of Lakewood Ranch Communities: SAR Affiliate of the Month for March Sherri Spanos, Realtor® liaison for Lakewood Ranch Communities, is the SAR Affiliate of the Month for March 2011. Sherri is not new to Lakewood Ranch. She transferred from Lakewood Ranch Golf & Country Club where she was Food and Beverage Manager. Sherri enjoyed working at the club, but saw an opportunity to use her real estate experience. Sherri began years ago leasing apartments and when the market was www.sarasotarealtors.com
strong, obtained her Florida Real Estate license. Once she had her license she left the apartment community and began selling luxury condominiums for a local developer. Sherri has been in Florida for over 30 years and in the Bradenton/Sarasota area for the past 9 years. For more information about the “Ranch”, visit www.lakewoodranch.com Sherri Spanos Sarasota Realtor® Magazine
MARCH 2011
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Cover Story 6
A Green Vision
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Sarasota has strongly embraced the ‘Green’ revolution
The future is “Green,” and the Sarasota Association of Realtors® has been promoting the ecologically sound, sustainable path for the local real estate industry for many years. In late 2010, the SAR Board decided to fund a landscaping project on the association grounds which qualifies as a “Florida-Friendly Landscape.” Florida-Friendly Landscapes protect Florida’s unique natural resources by conserving water, reducing waste and pollution, creating wildlife habitat, and preventing erosion. There are nine Florida-Friendly Landscaping™ principles, which encourage individual expression of landscape beauty. In 2009, the Florida Legislature found “that the use of Florida-friendly landscaping and other water use and pollution prevention measures to conserve or protect the state’s water resources serves a compelling public interest and that the participation of homeowners’ associations and local governments is essential to the state’s efforts in water conservation and water quality protection and restoration.” The project was completed in early 2011. Stop by and see the results, which are not only eye-pleasing, but also economically and environmentally smart. The GRAS group meets regularly and plans green initiatives and seminars throughout the year. The next activity is the NAR Green Designation course at SAR, set for April 5-6 (see Page 20 for the details). There are many, many other local examples of the “Green” revolution alive and well in Sarasota. The entire community of Lakewood Ranch is touted as “The Largest Green Community in America.” Using building products and techniques that result in healthier, more energy-efficient, and environmentally responsible homes is how they have built every village in Lakewood Ranch since 2005. Many area brokerages have demonstrated commitment to the environment through implementation of sustainable business practices and the promotion of Florida Certified Green homes program. The Codding Cottage, located in Laurel Park, was awarded the 2010 Outstanding Project of the Year (LEED for Homes) by the Florida Gulf Coast Chapter of the USGBC. The awards were held as part of the 2010 Smart Sustainable Conference in St. Petersburg. Completed in December 2008, the cottage, built by Josh Wynne Construction of Sarasota, is still recognized as Florida’s highest scoring LEED Platinum Home. It is also the highest scoring home ever certified by the FGBC. The home has received numerous other awards including 5 Aurora Awards, 3 Grand Aurora Awards,
MARCH 2011
Consumer Electronics Association’s Platinum Green Automated Home, and the Best in American Living Awards Platinum Award for the Best Green-Built Home as presented by the National Association of Home Builders at the International Builder’s Show. Josh Wynne, a Sarasota native, has a goal of being both environmentally friendly and economical. His goal is $100 or less per square foot in building costs. “I try to incorporate design elements that are fundamentally more sustainable and energy-efficient: light-colored roofs and exteriors, good insulation, good windows and doors, well-designed HVAC systems, Energy Star appliances, smart lighting features, and passive ventilation,” he noted. GRAS was first formed in May 2007 as a small group of concerned Sarasota Realtors® who decided to plant the seeds that quickly grew to become the current organized movement. The Alliance was a pioneering organization among Realtors® - the first such organization in the state sanctioned by a real estate association. The group has spent the past four years encouraging others to understand green building concepts and sustainability, promoting the advantages of green building, and increasing awareness of Continued on P. 8, See GREEN
Sarasota Realtor® Magazine
www.sarasotarealtors.com
J o i n t h e C lu b WCI Introduces the
6%
Commission CluB* Who AlreAdy QuAlifies for 6% Commission?
• Any current actively licensed Realtor® who resides in one of the following WCI Communities, Pelican Preserve, Venetian Golf & River Club or Tiburón.
• Any Realtor® who sold a new WCI Home from July 1 – Dec. 31, 2010.
hoW CAn you QuAlify?
Sell one new WCI Home in 2011 at 4% Commission and automatically be eligible for 6% Commission on all subsequent new WCI Home sales until June 30, 2011.
AddItIonAl ProgrAm elements
• ACCess to CluB FACIlItIes – use of Club dining facilities and VIP rates for golf.**
• reCognItIon as a 6% Commission Club member in our monthly Realtor® communications.
• PrIorItY lIst stAtus – be the first to receive new product info and invitations to special events. Coming soon
FoRt MyeRs
239-985-1600
Homes from the mid $100s
NoRtH VeNICe
941-485-5063
Homes from the low $200s
NaPles
239-593-9199
Homes from the $700s
NaPles
239-598-2370
Homes from the $200s
WCICommunItIes.Com • 800-WCI-2290 *Contact Sales Director for complete terms & conditions of the 6% Commission Club program. The commission on each residence shall be paid at closing to applicable broker for contracts on new WCI Homes that are fully executed between January 1 and June 30, 2011. Contact Sales Director at Community Sales Center for specific closing requirements. This expires June 30, 2011, and is subject to cancellation without notice. The 2011 6% Commission Club Program cannot be combined with any other WCI commission program. The commission shall be calculated and paid in accordance with WCI’s Co-Broker Commission Program Agreement. This program is subject to the registration procedures, terms and conditions set forth in WCI’s Co-Broker Commission Agreement. **Eligibility and access to dining, club facilities and VIP Golf Rates vary by community and are subject to individual club rules and regulations. Pricing and availability subject to change without notice. All references to clubs, membership opportunities and other amenities are subject to fees, dues and availability. Void where prohibited. ©2011 WCI Communities, Inc. All rights reserved. CGC 058796
GREEN From Page 6
how the environment directly impacts real estate. The GRAS Mission Statement reads: “The mission of the Green Realtors® Alliance of Sarasota is to be a resource for the preservation of our environment and natural resources as it pertains to real estate.” The premise of the group is that being a good steward of the environment and the community is good for real estate and future smart development. The trend in Sarasota and around the country is towards “green” practices in new construction, retrofitting, and environmental care. Since there are differing standards for sustainable design, the Green Realtors® Alliance has tried to educate SAR members regarding products, standards and services and thus help avoid litigation. The group has also developed resources for SAR’s web site and been an advocate for green practices. In 2008, NAR first established a Green Designation. The program is designed to help Realtors: • Understand what makes a property green. • Explain to clients and customers the cost benefits of green building features and practices. • Distinguish between industry rating and classification systems. • List and market green homes and buildings. • Discuss the financial grants and incentives available to homeowners. • Guide buyers in purchasing resourceefficient homes. Green features have also been included in the Sarasota MLS system, to better inform buyers and sellers regarding the features and their benefits, which add value to a home. In keeping with the green movement, SAR will continue to partner this year with Habitat for Humanity Sarasota. A major new initiative with the group will be announced in the April issue of
8
MARCH 2011
From left, GRAS members Alex Boakes, Terri Thacker, Peggy Christ, Theresa Fieberts, Steve Wooster, Wanda Kerr and Chuck Shah are shown with the sign noting SAR’s Green landscaping project recognition.. Sarasota Realtor® Magazine. Habitat Sarasota won two AURORA Awards on August 1, 2009 at the Annual AURORA Awards Gala/ Spectacular at the Rosen Center Hotel in Orlando. Habitat Sarasota won the two awards for the excellence in green construction on a Central Avenue home constuction project. The AURORA Awards are presented each year to builders, developers, architects, planners, interior merchandisers, landscape architects and other disciplines actively involved in projects in a 12-state southeastern region who have demonstrated building and design excellence. The Habitat homes use a panelized construction method developed by Brian Bishop of Home Front Homes in Englewood. The panels are very strong and highly insulating, keeping in the warmth in winter and the cool air in summer - part of the green goal of energy conservation. The Habitat home ranked in the top 5 Green houses in Florida. It scored a 214 (minimum approval score of 60) The top home scored 224. The home’s landscaping has been recognized as Florida Friendly by
Sarasota Realtor® Magazine
Florida Yards and Neighborhoods (FYN) through the University of Florida’s IFAS Extension Program. Encouraging and supporting green construction and rehabilitation practices is one way the real estate community can help shape our nation’s future. SAR has recognized this fact, and has been a leader in the green movement for many years. We continue to encourage our members to attain the NAR Green Designation, which assists Realtors® in selling properties by highlighting knowledge and skills that are in demand throughout the nation. Several members of GRAS have gained clients and made sales due to their green backgrounds, so there is a clear financial incentive to “going green” in today’s changing marketplace. There are many web sites which contain a wealth of information regarding the green revolution. Visit: - www.ecobroker.com - www.floridagreenbuilding.org - www.greenconcepts.com - www.ecohouse.com
www.sarasotarealtors.com
Participate in our Gold Medallion Treasure Hunt and start collecting $500 gold coins* redeemable when you sell a Medallion Home in any of our neighborhoods.
Here’s how it works: • Visit www.medallionhome.com to locate a sales center near you and pick up a treasure map with details about our neighborhoods. • Receive a $500 Gold Medallion* at each neighborhood that you visit. • Sell a Medallion Home and receive $500* for each coin collected, in addition to your commission at closing. Must present coins at time of registration. • No more than 10 Medallions ($5000 value)* may be redeemed per sale. • Partner with your team to collect Medallions and split the bonus. • Visit all seven Medallion neighborhoods by 3/31/11 and qualify for a drawing to win a weekend getaway for two to Longboat Key Club. Includes accommodations, dinner at Sands Point or Portofino on Friday and Saturday, breakfast in bed on Sunday, and a massage for two at the Island Spa House. See treasure map for details. • Opt-In to receive text messages and be the first to know about new neighborhoods, floor plans, events, and special opportunities to receive additional Medallions. Be one of the first 100 to opt-in and receive an additional two $500 Medallions. It’s easy. In your text app on your phone, just put 313131 in for the phone number and type “medallion” as your message. Hit Send. You’ll get a text back. Show it to a sales rep at any of our neighborhoods to collect your Gold Medallions.* *
Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Not valid with any other promotion.
www.medallionhome.com/sar • 2212 58th Ave East • Bradenton
941-359-9000
Governmental Affairs
SAR announces city candidate endorsements
By Marc Mansfield Governmental Affairs Director
t
The City of Sarasota will hold an election on Tuesday, March 8, for City Commission Districts 1, 2 and 3. Early voting began on Feb. 22nd and ends Sunday March 6th If no candidate receives a majority of the vote, their will be a runoff scheduled for May 10. Hot Button Issues: - Economic Development/Growth - Job Creation - Downtown Redevelopment - Employee Pension Liability - Decreasing Tax Revenues - City Financial Standing - North Trail Redevelopment Sarasota Association of Realtors® Political Action Advisory Trustees recently interviewed candidates for Sarasota City Commission District 1, 2 and 3. Based upon those personal interviews, candidate answers to questions regarding private property rights, and real estate issues in general, SARPAAT recommended the candidates shown below which were approved by the SAR Board of Directors. We realize you have the right to vote for the candidate of your choice, however, if you are interested in which candidates answered best on real estate issues, your screening committee and Board of Directors have chosen the slate of candidates shown below for the election. City Commission District 1 With City Commissioner Fredd Atkins retiring, there will be no incumbent running for this seat. Four candidates Richard Dorfman, Linda Holland, Frederick Williams and Willie Shaw are vying for the District 1 commission seat. During the interview sessions all candidates supported the need for job creation, additional growth and resolving the employee pension liability issue. When questioned about the ongoing differences between neighborhood leaders and the business community on how growth should occur, all candidates supported building consensus between the two groups for the betterment of the city. On private property rights, real estate related issues and growth and development, all four candidates expressed views closely aligned and consistent with SAR public policy positions. Recommendation: SAR will remain neutral in District 1.
Shannon Snyder Paul Caragiulo Both candidates acknowledged the need to resolve the employee pension issue and the need to increase tax revenues for the city. The candidates differed on their approach to job creation and additional growth, and the way to reach consensus between the neighborhood leaders and the business community. On private property rights, real estate related issues and growth and development, candidate Paul Caragiulo’s philosophy was more closely aligned with SAR public policy positions. Given the economic and budgetary challenges facing the city, the need for new jobs and managed growth we believe Paul Caragiulo will bring much needed balance to the city commission. Recommendation: SAR endorses Paul Caragiulo for District 2. City Commission District 3 Kelly Kirschner the current incumbent announced he would not run for re-election, leaving this an open seat for the 2011 election season. Three candidates, Diana Hamilton, Shannon Snyder and Pete Theisen are running for this commission seat. During the interview session both Diana Hamilton and Shannon Snyder supported the need for new job creation and additional growth, while Pete Theisen opposed new or additional growth. Hamilton and Snyder differed on their approach to resolving the employee pension issue, however, both supported building consensus between the neighborhoods and the business community. On private property rights, real estate related issues and growth and development, Shannon Snyder’s philosophy was much more closely aligned with SAR public policy positions. Recommendation: SAR endorses Shannon Snyder for District 3.
City Commission District 2 Commission district 2 features incumbent Richard Regardless of your choice, if you are a city resident, Clapp who was first elected in 2007 and challenger SAR encourages you to participate in the March 8th Paul Caragiulo, local restaurant owner who first ran for election! a City Commission At-Large seat in 2009. 10
MARCH 2011
Sarasota Realtor® Magazine
www.sarasotarealtors.com
* c r H
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The Isles on Palmer Ranch
IslandWalk at the West Villages
Carriage Homes, Attached Villas & Single Family Homes from the high $100s
Attached Villas & Single Family Homes from the high $100s
S A R A S O TA | 941-926-3933
N O R T H P O R T | 941-408-8179
Ask about our 2011 REALTOR® incentive program! *Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CGC1505166 ©2011 Pulte Home Corporation. All rights reserved. 1/5/11
Property Appraiser For more information, contact the Property Appraiser’s office at 941.861.8200.
One Family Unit equals only ONE Homestead Exemption One Family Unit = Only ONE Homestead Exemption
• The wife MUST So, they’ve picked out the ring, set the date, husband and bookedand the reception By Bill Furst, GRI, CRS, CRB demonstrate that they have a totally hall. However, the soon-to-be husband and wife may not realize how Sarasota County potentially complicated it can be Ifseparate both ownfinancial Homestead Exempt relationship. Propertyproperty. Appraiser They will have to decide which home is their permanent
s
Recent court decisions also refer
residence. This will determine where they qualify to receive their one and to the couple being in a “congenial onlypicked Homestead Exemption. So, they’ve out the ring, set
marriage”, and ”behav[ing] in a the date, and booked the reception manner consistent with the common Or let’s saythe that one spouse has retired and moved to Sarasota while the hall. However, soon-to-be sense notion of what it means to be a still-working spouse remains marital home in some other state or husband and wife may not realizeat thefamily” when findinglinked against couples county where the couple from a residency property how potentially complicated it has canbenefited seeking to benefit from property reduction such as a homestead. Once again, regardless of whether the be if bothtax own Homestead Exempt tax exemptions on two properties. spouses’ respective homes are owned as husband and wife or individually property. They will have to decide Obviously the newlyweds in our the husband and wife need to decide which property is their permanent which home is their permanent scenario would have a hard time residence. residence. This will determine where arguing for Separate Family Unit they qualify to receive their onelaw, and However, under Florida each status! spouse in a married couple may be able only Homestead Exemption. to receive separate Homestead Exemption specificresiding conditions,in Whenunder thevery spouse not limited the following: Or let’s including say thatbutone spousetohas another state or Florida home wishes retired and moved to Sarasota while to retain his or her exemption/tax • The husband and wife permanently reside separate and the still-working spouse remains at must credit, the Homestead Exemption apart eachother other. applicant in Sarasota must file a the marital home infrom some The husband or wife demonstrate theirthis intention state or county• where the couple hasmuststatement with officeofaffirming from the other by obtaining their benefited from apermanently residency residing linked apart that they meet the requirements to official credentials, voter registration, etc.), at the property tax reduction such as (driver a belicense, considered a Separate Family address claimed as their permanent homestead. Once again, regardless Unit andresidence. provide documentation • spouses’ The husband or wife does not make mortgage, insurance, tax or of whether the respective verifying that they and their spouse other payments the property of the other. homes are owned as husband on and have totally separate financial and • The husband andand wife MUST demonstrate that they have a wife or individually the husband personal lives. Those documents totally separate financial relationship. wife need to decide which property are reviewed to determine if the is their permanent residence. applicant qualifies the Homestead Recent court decisions also refer to the couple being in for a “congenial Exemption. However, under Florida law, marriage”, and ”behav[ing] in a manner consistent with the common each spouse a married senseinnotion of what itcouple means to be We a family” when periodic finding against conduct audits of all may be couples able toseeking receive separate to benefit from property tax exemptions on two Separate Family Unit Homestead Homestead Exemption under properties. Obviously the very newlyweds in our scenario would a hard we Exemption claims. Onhave occasion, specific conditions, including but Unit time arguing for Separate Family status! find that the property of the absent not limited to the following: spouse received an exemption in the spouse residing in another or Florida home wishes to thestate year(s) following the granting • The When husband and wife must retain his or her exemption/tax credit, the Homestead Exemption permanently reside separate and of the Homestead Exemption here. in Sarasota must file a statement with this officea affirming thathas Upon confirming violation apart fromapplicant each other. they meet the requirements to be considered a Separate Family Unit and occurred, this office will initiate a • The provide husband or wife verifying must that documentation and their spouse have totally lienthey against the Florida homestead. demonstrate their intention of lives. separate financial and personal Those documents are reviewed to This process recovers any exempted permanently residing from determine if the apart applicant qualifies for the Homestead Exemption. taxes and Save Our Homes benefits the other by obtaining their official in addition to a fifty percent penalty credentials, license,audits voter We (driver conduct periodic of all Separate Family Unit Homestead and fifteen percent interest per year Exemption occasion, we find that the property of the absent registration, etc.), claims. at theOn address of violation. exemption in the year(s) following the granting of the claimed spouse as received their an permanent occurred, If any aofviolation these has circumstances residence. Homestead Exemption here. Upon confirming this office will initiate a lien againstapply the Florida homestead. This to your customers process or clients, • The husband or wife does not recovers any exempted taxes and they Save Our Homes benefits inour addition to at may want to call office make mortgage, insurance, tax or percent interest per year of violation. a fifty percent penalty and fifteen 941-861-8200 before they make the other payments on the property of leap. the other. If any of these circumstances apply to your customers or clients, they may
Statutes, Codes, and Constitutional provisions governing Separate Family Units. Florida Constitution, Article VII, Section 6(b): Not more than one exemption shall be allowed any individual or family unit or with respect to any residential unit. Florida Administrative Code: Chapter 12D-7.012(2): No family unit shall be entitled to more than one homestead tax exemption. Chapter 12D-7.012(5): Property held jointly will support multiple claims for homestead tax exemption; however, only one exemption will be allowed each residential unit and no family unit will be entitled to more than one exemption.
EXTRA, EXTRA READ ALL ABOUT! Understanding the Appraisal Process Property Exemptions Savings Portability and Save Our Homes Tangible Personal Property Taxes Colorful and informative Brochures on these important topics are now available on our website, www.SC-PA.com. Click on the Articles and Brochures link under Quick Links on the left side of our homepage.
NEED A SPEAKER FOR YOUR MEETING: BILL FURST WILL COME AND TALK WITH YOUR GROUP AND ANSWER YOUR QUESTIONS. To set an appointment, call our office at 941.861.8200 or email us at PA@SC-PA.com.
want to call our office before they make the leap.
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MARCH 2011
Sarasota Realtor® Magazine
www.sarasotarealtors.com
KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy
Open House Weekend slated March 26-27
This month on the weekend of March 26-27, more than 50,000 balloons bearing the Realtor® logo will be floating above mailboxes across the state, luring prospective buyers to thousands of Realtor® Open Houses. It’s part of the Florida Open House Weekend, and SAR and our members are once again participating! It’s a home shopper’s dream. For the serious buyer, the opportunity to tour dozens of homes in one weekend is a real time saver. Others who didn’t think they could afford a home may be drawn into the market by the affordable prices and low interest rates. To help SAR promote the open houses, Florida Realtors® has purchased balloons featuring the Realtor “R” and created two eyecatching event logos: one for Realtor® to Realtor® communications and one for Realtor® to consumer communications, both available at: floridarealtors.org/openhouse. The balloons are now being distributed by SAR, which was allocated 1,500 to hand out to our members. They will be available at the front desk at SAR (3590 S. Tuttle Ave.) in early March, at Power Marketing sessions, and also at major local brokerages. SAR requests that three balloons be flown at every open house on March 26 and 27. The Open House Weekend is actually only part of the larger Welcome Home Week, which happens March 21st through the 27th. Florida Realtors®, SAR and other local associations will be promoting the value of Florida real estate throughout the week. Did you know that last year, the Open House Weekend offered more than 15,000 Open Houses to visit across the state? Florida Realtors® is hoping that this year’s event is even bigger. “This is the largest open house event in the nation! I’m counting on your participation because we need all of you on board to promote the Realtor® profession,” noted 2011 Florida Realtors® President Pat Fitzgerald. If you haven’t scheduled your open houses yet and picked up your balloons, please don’t wait another day! Join your fellow professionals at SAR for this major annual event! Also, don’t forget that the Sarasota Herald-Tribune and other local newspapers are offering special discounts for open house advertisements that weekend, so don’t delay!
Call 941-366-1300 For A
FREE CONSULTATION Jefferson F. Riddell, Esq. (Board Certified Real Estate Attorney) Cynthia A. Riddell, Esq.
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.
Is your prospective client a con artist?
By Ryan W. Owen, Esq. Realtor®-Attorney Joint Committee The same con artists who five years ago sent e-mails claiming that they only needed a few thousand dollars in order to unlock and share the fortunes of former African Kings have developed new and sophisticated schemes to prey on professionals, including real estate agents. These schemes do not require you to send an advance payment or to wire funds after depositing a washed cashier’s check. In many ways, real estate agents and their buyers are easier prey now more than ever before. Foreign investor demand is one of the more active sectors of the market. With the proliferation of internet marketing and e-mail, these investors can find and reach you with ease. Online property records make it easier for you and your buyers to research the market and the sellers. Those same tools also make it easier for con artists to obtain all the information they need to make you an unwilling accomplice. How are they doing it? By stealing the identities of foreign sellers and giving your buyers nothing more than a worthless piece of paper at closing. So, how do you protect buyers from these con artists? There is no absolute guarantee that the deed received at closing is genuine, but there are a few steps you can take to identify these con artists and avoid wasting your time by listing a property for a con artist or worse, getting sued by the buyers when they discover that they paid thousands of dollars for a forged deed. It is important to know how the scam works. The con artist starts by identifying a vacant parcel that is owned free and clear by a foreign investor. Using the clerk’s or property appraiser’s records, this is easy to do. All deeds are recorded in the public records and available online. The scammer then
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establishes an e-mail address with Hotmail, Google, or another internet service using a handle similar to the owner’s name. Next, they find you using your online marketing presence and send you an e-mail inquiring whether you are interested in listing the property and asking you to recommend a list price. They expect you to be eager for the opportunity to list the property and to give them a range of possible list prices. Because they are most interested in a quick sale, they will often agree to a list price that is at the low-end of the range you provide, if not lower. It is not unusual for a real estate agent or broker to e-mail the listing agreement to the seller, have him sign it, and e-mail it back to you, so such a request doesn’t raise any red flags. Next, the con artist sits back and waits for you to find the victim. Once you find a willing buyer, they sign the contract and wait for the closing agent to contact them. At this point, the red flags start flying at full mast. The con artist tells the closing agent that he is traveling in West Africa and needs the closing documents over-nighted to his hotel. The warning sirens should blare when he says that he wants the sales proceeds wired to his account in China. At this point, the closing attorney should recognize that there is a problem and refuse to close the transaction. Good title underwriting practices now require that the seller take the closing package to the nearest U.S. Consulate to have the seller’s identification inspected and Sarasota Realtor® Magazine
deed notarized by a consular official. In a best case scenario, the con artist never returns the deed, the closing falls through, and the commission you were expecting never materializes. If the closing agent fails to recognize the fraud, the closing goes through, the buyer takes title through a forged deed. Days, months, or years later, the buyer discovers that he doesn’t own the property when the real owners sue him along with everyone else involved in the closing (including you and your broker). There are a few simple steps you can take in order to avoid wasting your time and assisting the con artists. First, insist upon talking to the client on the telephone. When they give you their telephone number, look up the country code and make sure that you are calling the country where the seller lives. Make sure that their accent matches their country of origin before you send a listing agreement, tell your prospective client that the closing agent will require that they go to the U.S. Consulate for the closing and that their proceeds must be wired to an account held at a bank in their home country. This will tend to discourage the con artists who are looking for the easy kill. You can also request that they mail you the original signed listing agreement with a copy of their passport and U.S. Visa. When you receive it, look not only at the contents, but also at the postage. On the buyer’s side, protect your client by asking questions of the seller’s agent. Ask if they have met the seller in person, if the seller will attend the closing, and how they were contacted by the seller. Recommend that your client purchase title insurance. If the deed is a forgery, title insurance will pay up to the maximum benefit under the policy in order to purchase the property from the real owner or to compensate the buyer for the loss. Because any losses above the policy limits are borne by the buyer, buying title insurance is not a replacement for due diligence.
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p
Pending sales surge in January; early 2011 appears promising
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Pending sales in the Sarasota real estate market experienced a major climb in January 2011, from 789 in December 2010 to 1,013 last month for a 28 percent increase. This statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity. It was the first time pendings have exceeded the 1,000 mark since April of 2010, when the looming homebuyer tax credit expiration date was fueling sales activity. Overall, sales hit the 537 mark in January, higher than last January’s total of only 506 sales, but somewhat disappointing compared to the 681 sales in December. January is traditionally a slower sales month due to the holidays, and sales have dropped from December to January over the past several years. Last year, sales dipped in January but surged strongly in February, March and April. The dramatic rise in the pending sales last month, coupled with positive word of mouth reports from SAR members, predicts a potential repeat of last year, even without a homebuyer tax credit. “The market is very lively right now,” said SAR President Michael Bruno. “I recently held an open house and had very high foot traffic compared to recent months, and I’ve heard from other Realtors® in the association who are experiencing the same thing.” The breakdown in January 2011 was 384 single family sales and 153 condo sales. This compared to 350 single family sales in January 2010 and 156 condo sales. The median sales price for both single family homes and condos was down in January 2011, as distressed property sales exceeded 50 percent of the local real estate market and pulled the overall median figures lower. The single family median sales price was $138,700, while the condo median dropped to $142,500. Both figures were above $160,000 the previous month, as well as last January’s figures. The overall median price drop reflected the lower prices for both foreclosure sales and short sales. For single family homes, the median sales price for a foreclosure was $87,900; for a short sales, $130,000; and for normal, arm’s length sales, $225,000. For condos, the three categories stood at $61,000, $128,500 and $230,000 – a dramatic range of prices. More than half of all single family sales – 54 percent – were distressed sales. For condos, distressed sales were 41 percent of the overall total. “Clearly, we continue to see three very distinct markets in Sarasota,” noted Bruno. “Buyers who want to avoid delays and other potential problems and complications on distressed properties are willing to pay a higher price for homes and condos. We continue to look forward to the day when these distressed properties return to traditional levels in Sarasota. The rebound in the national economy appears to indicate that day is coming.”
www.sarasotarealtors.com
“I recently held an open house and had very high foot traffic compared to recent months, and I’ve heard from other Realtors® in the association who are experiencing the same thing.” - SAR President Michael Bruno Inventory remained at a very low level in January (6,072 available properties), only slightly higher than last month’s figure of 6,047. But the lower sales volume caused a rise in the months of inventory to 10.2 months from 7.8 months in December 2010 for single family homes, and 14.1 months from 11.7 months for condos. Only two years ago, in January 2009, there were 25.3 months of inventory for single family homes and a very high 38.4 months of condo inventory. The market is considered to be in equilibrium between a buyers and sellers market once the figure reaches the 6 month level For the year 2010, overall sales were up 12.4 percent compared to 2009 – 7,603 to 6,739 total sales. Sales in the Sarasota market have now risen for two consecutive years since a low point of 5,820 sales in 2008.
Sarasota Realtor® Magazine
MARCH 2011
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Sarasota MLSSM Statistics - January 2011 Single Family Condo
Unit Sales 700 600 500 400 300 200 100 0 Jan‐10
Feb‐10
Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10
Dec‐10
Jan‐11
Single Family
Median Sale Price
Condo
$250,000 $200,000 $150,000 $100,000 $50,000 $0 Jan‐10
Feb‐10
Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10
Dec‐10
Jan‐11
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
3,920
384
9.8
179
$138,700
$161,000
10.2
749
19.1
726
146
This Month Last Year
4,042
350
8.6
169
$156,250
$160,000
11.5
573
14.2
1,004
185
3,920
500
12.8
178
$165,000
$163,000
7.8
567
14.5
715
156
‐
384
‐
179
$138,700
‐
‐
749
‐
726
‐
Oct 95.2 ‐
Nov 94.8 ‐
Dec 94.1 ‐
Last Month YTD
Jan 94.4 94.5
2010 2011
Single Family – Sale Price Vs. List Price % Rates Feb 92.8 ‐
Mar 95.2 ‐
Apr 94.8 ‐
May 95.2 ‐
Jun 95.3 ‐
Jul 94.7 ‐
Aug 95.2 ‐
Sept 94.6 ‐
Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Feb. 10th, 2011, 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
MARCH 2011
Sarasota Realtor® Magazine
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Sarasota MLSSM Statistics - January 2011 Single Family Condo
Inventory 5,000 4,000 3,000 2,000 1,000 0 Jan‐10
Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10
Jul‐10
Aug‐10 Sep‐10
Oct‐10 Nov‐10 Dec‐10
Jan‐11
Single Family Condo
Pending Sales 900 800 700 600 500 400 300 200 100 0 Jan‐10
Feb‐10
Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10
Dec‐10
Jan‐11
Condo This Month This Month Last Year Last Month YTD
2010 2011
#Active
#Sold
%Sold
Average DOM
Median Sale Prices
Median Last 12 Months
Months of Inventory
Pending Reported
%Pending
# New Listings
# Off Market
2,152
153
7.1
204
$142,500
$162,500
14.1
264
12.3
334
118
2,300
156
6.8
207
$165,000
$189,900
14.7
242
10.5
385
205
2,127
181
8.5
211
$160,000
$163,000
11.7
222
10.4
302
139
‐
153
‐
204
$142,500
‐
‐
264
‐
334
‐
Oct 94.3 ‐
Nov 94.5 ‐
Dec 92.9 ‐
Jan 92.5 93.4
Condo – Sale Price Vs. List Price % Rates Feb 92.4 ‐
Mar 92.5 ‐
Apr 93.2 ‐
May 94.2 ‐
Jun 93.7 ‐
Jul 94.2 ‐
Aug 93.5 ‐
Sept 93.2 ‐
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
MARCH 2011
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CID (Commercial Investment Division)
Lies, damn lies and statistics: Why good data matters By Anthony Homer CID President For those of you who don’t know, my background is in computer programming. And not the sexy, Facebook, headline grabbing kind of programming, I grew up working with databases. Which as all programmers know, are the heartbeats of the datacentric world we live in. In high school I worked for a “knowledge discovery” startup which scoured data for clients like Hong Kong Telecom, United Airlines and Deutsche Telekom discovering patterns and connections which would take humans months and years to spot. In college, I worked for Sybase on the Palm Pilot database (remember those?) to give mobile computing its start. Google perfected data mining by sifting through billions of pages of content to deliver you exactly what you’re looking for instantly and changed the way we shop, dine, and travel. That lack of concrete data in the local economy, lease rates, vacancies, absorption and sales comps has created an atmosphere of risk aversion. Without clear insight, investors, lenders, developers and landlords err on the side of caution, which keeps them from making purchases, loans and other decisions. Banks rely on good data to set their REO prices, lenders need good data for underwriting, and businesses need that data when considering our area for expansion and relocation.
In the coming months, the CID is going to be working on creating a platform to aggregate data which can be used to make these decisions. Our goal is to equip our members with the data their customers need to correctly judge their risk and accelerate our market’s recovery. We want your input, and look forward to seeing you at our next meeting, which will be covering market conditions and sharing the data we have. As always, if you have questions, comments, or would like to join the CID please feel free to contact me at ahomer@lwrcommercial.com. We are always looking for members to contribute in our committees, so if you want to get involved just let us know.
2011 CID Officers & Directors Officers:
Directors:
President: Anthony Homer, LWR Commercial President-Elect: Brad Lindberg, Hembree & Associates Vice-President: Linda Emery, Michael Saunders & Co. Secretary: Diane Lee, Wagner Realty Treasurer: Tim Mapp, Mapp Realty Past President: Lee DeLieto, Jr., Michael Saunders & Co.
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Pete Skokos: Norton, Hammersley, Lopez & Skokos (1 year - 2011) Eric Massey: Michael Saunders & Co. (1 year - 2011) David Roth: RE/MAX Alliance (2 years - 2012) Sarah Olesen: Keller Williams Lakewood Ranch (2 years - 2012) Bob Milhoan: Hembree & Assoc. (3 years - 2013) Lori Hellstrom: Osprey Management (3 years - 2013)
Sarasota Realtor® Magazine
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Build ‘Green’ and you pocket green
By Brad Lindberg CID President-Elect
Got your electric bill lately? While you try harder to save energy each month, the cost of fuel continues to rise exponentially. No matter how much you cut back, you never seem to get ahead. Keeping those costs in check with efficiencies is the only way you will be able to economically survive...for at least the short term. Energy loss in the commercial market is far more important to the tenant than how much carbon is being dumped into the atmosphere. Yes, the two go hand in hand, but when energy costs represent a third of the operating expenses of a business, there are more discussions around budgets than in carbon emissions. It has been well documented that a “Green” building brings a greater return to the investor than a building of conventional construction. In an article in Environmental Building News last November, it was noted, “Dutch economist Nils Kok has published the most comprehensive statistical analysis to date on the relative value of green and conventional buildings. The results show that U.S. buildings labeled under the LEED or Energy Star programs charge 3 percent higher rent, have greater occupancy rates, and sell for 13 percent more than comparable properties. Labeled buildings have effective rents [rent multiplied by occupancy rate] that are almost 8 percent higher than those of otherwise identical nearby non-rated buildings, the study reports Noting that energy represents about
It’s more in vogue to have lush landscaping than to have drought hardy cactus surrounding your building, but what is most appealing and glamorous and in vogue is the “Green” in your pocket. 30 percent of operating expenses in the typical office building in the U.S. and is the single largest and most manageable expense in the provision of office space, the researchers also looked at the interaction between LEED and Energy Star ratings. They found that the benefits of energy efficiency alone and LEED’s broader sustainability metrics are both “fully capitalized into rents and asset values.”
The cost to build a Green building has many variables. To what extent you invest in Green building techniques will help reap a tenfold return on your investment over the life of the building. How that savings is calculated is based on the immediate utility savings. Then there is the perceived tenant retention, generating a lower vacancy rate along with higher than normal lease rates. It is a lot more glamorous to have marble floors in the bathrooms than to have a cistern on the roof. It’s more appealing to have decorative crown molding than two inch foam insulation on the ceiling. It’s more in vogue to have lush landscaping than to have drought hardy cactus surrounding your building, but what is most appealing and glamorous and in vogue is the “Green” in your pocket. And that “Green” makes everyone smile.
CID slates meetings for March 2011
- Commercial Marketplace Session - Friday, March 4th, 9 a.m. – SAR Auditorium - Commercial Marketplace Session - Friday, March 11th, 9 a.m. – SAR Auditorium - CID General Membership Meeting - Tuesday, March 15th, 8:30 a.m. – SAR Auditorium
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- Commercial Marketplace Off Site Session - Friday, March 18th, 9 a.m. – Manatee Association of Realtors, 10920 Technology Terrace, Lakewood Ranch, FL - Commercial Marketplace Session ‐ Friday, March 25th – SAR Auditorium
Sarasota Realtor® Magazine
MARCH 2011
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Education Programs
Get NAR Green Designation at SAR in April Title: NAR GREEN Designation Dates: April 5-6 Instructor: Jean Dorazio, Vice President, North
American Title Company Cost: SAR Members, $99 by March 18th, $149 after; Others, $149 by March 18, $199 after Take advantage of this special low price and start on your GREEN designation now! 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. Sarasota is known to be the greenest county in the state. To prepare themselves to better serve this market, thousands of Realtors® have already earned NAR’s Green designation. In order to earn the NAR Green designation, the student must successfully complete the Core Course and one of three elective courses (which may also be done online): 1. Green Residential Real Estate 2. Green Commercial Real Estate 3. Green Property Management. Students who complete the Core Course receive a one year membership in the NAR Green Resource Council. After taking this course, you will be able to: • 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 and New Urbanism. About the instructor: Jean Garcia Dorazio has been a Realtor® in Florida for over 25 years. A native Floridian, she is also a licensed real estate instructor and an approved instructor for the Code of Ethics by FR. She is also a licensed title agent. She is the past president of WCR Tampa Chapter in 1994 and has served as chair of many committees for WCR, the Greater Tampa Association of Realtors® and Tampa Bay Builders Association. She is currently a Vice President and the Director of Business Development for North American Title Company, FL.
Learn QuickBooks II for Real Estate Pros Title: QuickBooks II for Real Estate Professionals Date/Time: March 9, 9 a.m. to 1 p.m. Location: SAR Main Auditorium Instructor: Abby Barboza Cost: $20 (SAR Members); $40 (others) This course is Part 2 in a series designed specifically for real estate brokers and agents. As business owners, you need to be able to take control of your finances. Learning QuickBooks allows you to be in control of gathering and entering your financial information. It allows you to use basic accounting principles to your advantage. Receive a FREE 30 day trial in addition to discounts on QuickBooks software when you attend the class. Module II covers the following: • Customizing QuickBooks • Excel & Word for QuickBooks
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• Setting up Multiple Users • End of year closing. • Creating Statements for Property Management clients, and much more!
Sarasota Realtor® Magazine
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Earn NAR Designations in 2011 with local courses GRI Course 2 - May 2-4 and May 10-11 Cost - Realtors® $265
The designation is available only to members of NAR. Course carries 30 hours of Broker’s PostLicense credit and 11 hours CE.Topics include: Tax; Technology Tools & Resources; Sales & Marketing; Personal Promotion; and Investments.
GRI 3 - July 25-27 and Aug. 2-3 Cost - Realtors® $265
This course carries 30 hours of Broker’s PostLicense credit and 11 hours CE.Topics include: Appraising; Construction; Brokerage Management; Land, Environment & Private Property Rights; Property Management & Common Ownership; and International Real Estate.
SFR - Short Sale & Foreclosure Certification: June 1: Cost - SAR Members, $99; Others, $119
For many real estate professionals, short sales and foreclosures are the new “traditional” real estate transaction. Knowing how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities are not merely good skills to have in today’s market — they are critical. And while short sales and foreclosures are not for the faint of heart, agents with the proper tools and training can use these specialty areas to build their business for the long term. Instructor: Jim Dague
14 Hours CE - Aug. 9-10 Cost - SAR Members, $79; Others, $99
SRES (Seniors Real Estate Specialist) - Oct. 11-12 Cost - SAR Member, $199; Others, $229
This session provides the full 14-hours of continuing education needed for license renewal. The 14-hours CE includes 3 hours of Core Law. Or, you may opt to take Core Law only which consists of the first three hours of the 14 hours. Instructor: IFREC
Adults aged 50+ represent more than 20% of the U.S. population. For most senior adults, the homes that they live in are their largest asset and account for most of their net worth. Completion of the Seniors Real Estate Specialist (SRES®) Designation Course is an essential step for Realtors® in understanding the distinct real estate goals, concerns, and needs of seniors today. This course looks at key differences in housing options, from age-restricted communities to age-in-place design to assisted living; applications of the Housing for Older Persons Act (HOPA); the ins and outs of reverse mortgages; the use of pensions, 401k accounts, and IRAs in real estate transactions; and developing a team of senior specialists, including estate planners, reverse mortgage lenders, clutter and staging specialists, and more. Instructor: Jim Dague www.sarasotarealtors.com
Sarasota Realtor® Magazine
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The GRI course in January proved extremely popular, attracting more than 50 registrants to the SAR facility. GRI training courses will continue throughout the year.
Lunch ’n Learn series continues in March
Presented by the Realtor®-Attorney Joint Committee (a joint committee of the Sarasota Association of Realtors® and the Sarasota County Bar Association), the Lunch ’n Learn series continues in March. Bring a brown bag lunch and munch while you learn. Mark your calendars now and plan to attend this series of seminars presented as a member benefit at no additional cost. Members, please register online at www.sarasotarealtors. com. Non-members will be charged $10, but will need to call Catherine at 941-328-1167 for registration information. The dates are listed at the end of this article. All the seminars are
Get technology tools for today’s Realtor® Title: Realtors® Essential Technology Toolbox Date/Time: April 13, 9 a.m. to 1 p.m. Location: SAR Main Auditorium Instructor: Craig Grant, VP of Sales, Marketing & Education, EasyRealtySites.com 4 Hours CE Credit Cost: $30 (SAR Members) $40 (others) The “Realtors® Essential Technology Toolbox” 4 CEU class is intended to help any Realtor®, no matter what their tech knowledge or skill level, learn how to properly utilize and leverage the technology in their personal and business practices in a fast paced, yet fun & easy to follow environment. This course explores understanding the changing needs and habits of today’s consumer and how Realtors® can use technology tools to find new business, grow and nurture their circle of influence, become more efficient in their daily lives and provide better service consumers. The course also covers the legal, risk management and online safety concerns a Realtor® needs to be aware of in the technical world.
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held from noon to 1:30 p.m. More details about the speakers will be made available as the seminar date nears. March 16- How to Hold Real Estate April 20- Making Next Year’s Taxes Easier May 18- How to Reduce the Chances of Getting Sued A social is also being planned for March 24 at Gecko’s on Hillview from 5-7 p.m.)
Award-winning printing and customer service Specializing in pocket portfolios, die-cutting and foil-stamping done in-house FSC and SFI certified to help you go green
Sarasota’s Premier Real Estate Printer 1730 Independence Blvd., Sarasota, FL 34234 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com
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MLXchange - the system is the solution! 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 March 7, 21, 9 a.m. to Noon Mandatory session for all new users. Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match 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. - 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 March 7, 21, 1:30 to 3:30 p.m. Mandatory class 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 - Adding images, attachments, open www.sarasotarealtors.com
house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listings Design Web Pages, Capture Leads March 8, 9 a.m. to Noon One of the most crucial components in today’s real estate professional’s day-today 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 handin-hand with a successful real estate business. - Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders - Plans manager, copying and modifying the action plan - Emailing the client private webpage - Customizing email templates MLXchange Advanced March 8, 1:30 to 3:30 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
Sarasota Realtor® Magazine
- Edit favorite reports, personalize home page resource link, setting defaults iMapp - Interactive Tax and Mailing Labels March 22, 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 a Professional CMA March 22, 1:30 to 3:30 p.m. This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - 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, selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default
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On the SAR Scene
LWRC-
SAR members enjoy a little ‘facetime’ 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!
Photography by Jesse Sunday
Tim Calpin and Sherrie O’Keefe at the Jan. 25th SAR Affiliate Social at Gecko’s.
Greg Sheller, Ann Ross, Stafford Starcher and Kristin Pace, at the Jan. 25th SAR Affiliate Social at Gecko’s.
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Erick Shumway, 2010 SAR President, and Laura Benson, the 2012 SAR President, at the SAR Chair Recognition event.
Members of the Green Realtors® Alliance of Sarasota tour the SAR grounds and the new eco-friendly landscaping.
Sarasota Realtor® Magazine
www.sarasotarealtors.com
MARCH 2011
LWRC-172 Feb Spotlight_Layout 1 2/4/11 3:18 PM Page 1
LAKEWOOD RANCH SPOTLIGHT
LETTER FROM
Don’t miss Cardel Homes’ new model in Central Park!
Tim Mulqueen, Lakewood Ranch Director of Sports
NEW MODELS open their doors
YOUR LOGO
COULD BE HERE!
Want the chance to be a part of history and make a name for yourself? How about winning some cold, hard cash? Here’s your chance! To open our new sports complex with a bang, we are looking for someone in the community to come up with our official name and logo. The complex, being constructed now, will house 22 full-sized, mixed-use fields for soccer, lacrosse and other amateur sports, and will feature Celebration grass and underground irrigation. It will be used for amateur and professional top-flight and worldclass sporting tournaments, events, camps and clinics. So get creative! Contest rules are online at www.lakewoodranch.com and the prize is a $2,000 Visa gift card for the winning logo and a $1,000 Visa check card for the name. Entries can be emailed in to lwrpress@lakewoodranch.com. Good Luck!
Go to www.lakewoodranch.com or call 941.907.6000 to discover more about living on the Ranch. Play tag! Learn how at: lakewoodranch.com
Lakewood Ranch will have over 36 furnished models open by this March.
New models and new neighborhoods keep popping up all over Lakewood Ranch! Cardel Homes has two new two-story models open now in Central Park, and don’t forget to stop by Country Club East to see Lakewood Ranch’s newest community, Belleisle. Neal Communities has four new models to see in Belleisle with pricing starting in the high $100s, and the newest amenity center and clubhouse will be open shortly. TruLiving Homes also makes its debut on the Ranch this month with its first West Indies-style model, open now in the Valderamma neighborhood in Country Club East. Prices start in the high $200s.
Call 941.907.6000 or vist one of the three information centers for details. Free private tours are also available.
Here is the latest lineup for Music on Main!
HOT NEW CANTINA
now open
Main Street’s Mexican restaurant, Eduardo’s Cantina, has been purchased by a new owner and has now re-opened for business! Local couple Charlie Hamilton and his wife Jean have redesigned the interior with beautiful wood beams, installed a cozy bar area and added some real Mexican artifacts. The restaurant’s new name is “El Lago Ranchero.” Make sure to stop by and try it out!
For a complete dining and shopping directory go to www.lakewoodranch.com/mainstreet
Don’t miss the FREE monthly outdoor concert series! March 4 The Venturas Benefitting Honor Animal Rescue April 1 Glass Onion Benefitting Real Rail May 6 Big T & The Tornadoes Benefitting Sarasota Film Society June 3 Shotgun Justice Benefitting LWR Community Fund
For more details on go to www.lwrevents.com
Ethics In Action
Agent found liable for short sale fraud By Robert Freedman Realtor® Magazine Online
The U.S. Bankruptcy Court for the District of Utah determined that a real estate agent and investment group misled a client in a short sale transaction. In re Fabbro U.S. Bankruptcy Court for the District of Utah A Utah real estate agent was found guilty of fraud for steering his client into a short sale with a phony buyer and then later flipping the property for profit. The client had a $380,000 mortgage on her house and listed it for sale but couldn’t find a buyer at her $399,000 asking price. Her tax adviser referred her to a real estate agent with short-sale experience, who brought in an investment group. The agent didn’t disclose that he was also a member of the group. A representative of the investment group met with the client and obtained her signature to list the property for $344,900. The wife of that representative—without disclosing her relationship with him or her involvement with the group—came forward with an offer to buy the property for the asking price, even though she lacked
the financial means to actually buy it. The investor group presented the $344,900 offer to the lender, which countered that it wouldn’t take less than $352,000, the appraised value. The representative’s wife upped the offer to that amount; the lender agreed. The real estate agent subsequently changed the listing status from contract pending to active to attract a buyer. Eventually the property attracted an offer for $441,111. The investors used $352,000 of the proceeds to complete the short sale and shared the remaining profit. The client then filed for bankruptcy. As part of the bankruptcy process, the Chapter 7 trustee filed an action against the investors and sought to void their purchase. The agent and the representative were accused of fraud, breach of contract, and other violations. The U.S. Bankruptcy Court for the District of Utah found, among other things, that the agent and the investor representative misled the client in multiple ways. The court ruled that the bankruptcy trustee could void the investment group’s purchase, and that the agent and investor representative may be liable for punitive damages. The court scheduled a hearing to receive further evidence.
Freebies are OK if terms are clearly disclosed By Bruce Aydt Realtor® Magazine Online
It’s OK to advertise freebies or money-back deals, but the terms must be clearly disclosed up front. QUESTION: To attract more clients, I would like to advertise a free home warranty or $500 back at closing. Is it OK to do this, and what are the restrictions, if any? ANSWER: Advertising free premiums, giveaways, and rebates is covered by the Code under Article 12’s requirement to present a “true picture” in our advertising, marketing, and representations to 26
MARCH 2011
the public. The key is to be sure your advertising clearly states any conditions or requirements to receive the benefit.
Standard of Practice 12-1 says, “Realtors® may use the term ‘free’ and similar terms in their advertising provided that all terms governing availability of the offered product or service are clearly disclosed at the same time.” Standard of Practice 12-3 addresses this issue as it relates to you requiring that consumers who take advantage of the offer use you as their real estate agent. It states that “Premiums, prizes, merchandise discounts, or other inducements”
Sarasota Realtor® Magazine
are not, in themselves, unethical even if the benefit “is contingent on listing, selling, purchasing, or leasing through the Realtor® making the offer.” However, the offering of any inducements to do business is subject to the limitations and restrictions of state law. Most state license laws don’t prohibit such offerings, but there are some states that regulate the advertising of the inducement and several states that prohibit their use. If the Code allows a practice that state law prohibits, the state law will always take precedence. So carefully check on your state laws before offering these “freebies.”
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By Valerie Torelli Realtor® Magazine Online
Building a thriving team environment at your brokerage means establishing openness and transparency. A pervasive “fear factor” in some real estate offices can dramatically drag down the business. Managers are often at a loss for dealing with rampant gossip, bullying, and other undermining behavior from sales associates and staff, believing that avoiding confrontation is the lesser evil. At my mid-sized brokerage, we’ve developed policies that help prevent such problems from happening. We’ve found that a culture of openness and transparency is the surest path to boosting morale, retention, and productivity. The proof is in the numbers: My company, Torelli Realty in Costa Mesa, Calif., saw its sales volume grow 17 percent from 2009 to 2010 while transaction sides jumped by nearly 20 percent. We are ranked fourth in market share in our Orange County, Calif., region, competing against companies with multiple offices and hundreds of agents. Here are some strategies we use effectively to promote teamwork: Seek goodwill. Negative energy can quickly bring down an office, so use foresight. In the hiring process, look for individuals who value a group atmosphere and camaraderie. I tend to be less focused on whether this person will add to the bottom line than whether he or she will add to the office goodwill. Our agents know that we hire with the good of the company in mind. This is one of the best ways to foster loyalty. Nip toxicity. It is quite common that a few people (unfortunately, they are usually the most vocal in the group) just enjoy being the bearer of bad news and helping create negativity. That’s why you
www.sarasotarealtors.com
must communicate your company’s core values to new and old agents alike. Practice what you preach, maintaining zero tolerance for gossip. Encourage people to come directly to you. If someone is making trouble, ask for a private meeting with that person to talk about the problem and potential solutions. Nonthreatening conversations giving these agents a voice will help create an atmosphere of trust. If people can’t adhere to the positive working environment, ask them to leave. Distribute leads fairly. In the cutthroat real estate industry, there is a great deal of concern about fairness in the lead distribution process. Therefore, a clear and well-defined strategic policy must be in place. We have an automated lead assignment system. The plan is simple: If a lead comes in and is not answered promptly, it goes to the next agent. This approach puts every agent on a level playing field. Give individual attention. Twice a month on “Mentor Mondays,” I meet with the agents one-onone to flesh out concerns and give guidance to help them reach their goals. During this time we also go over buyer and seller scripts
and role-play to improve our leadclosing techniques. Many rumors are identified during these sessions and are dealt with immediately. I’ve found that this greatly improves agent retention. Our agents do face evaluations by management; however, the reviews are meant to improve agents as salespersons and enhance their effectiveness, rather than be disciplinary. The evaluations are designed to be constructive rather than punitive. The feedback is twoway between management and the agents, with both sides holding each other accountable for performance. This is clearly outlined in company policy. Encourage open discussion. We’ve created a book club to foster creative and productive con versation. Some of our favorites are The Four Agreements by Don Miguel Ruiz, Fierce Conversations by Susan Scott, and The E-Myth Revisited by Michael Gerber. At each gathering, agents have an opportunity to lead the discussion and ask questions of others. These popular roundtable discussions have helped people get to know each other, boosting morale and trust.
Sarasota Realtor® Magazine
MARCH 2011
Broker Corner
No room for rumors in real estate brokerages
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Build your personal brand with WCR!
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By Cindi Jackson 2011 WCR President
Being invisible in some businesses is important for example, if you are a magician! In the business of real estate it is crucial to be visible and stand out in the crowd. Statistics state that over 11.2 million real estate consumers search monthly on the internet viewing properties. Many of these potential buyers do not have a real estate agent, but two out of three buyers work with the first agent they come in contact with when making the largest purchase in their lifetime! What makes one agent stand out from another agent? It’s the agent’s reputation. Many real estate pros market themselves as having “integrity” or being “the best.” But those qualities – while important – don’t necessarily differentiate them. What specific skills and knowledge do your offer, and how should you promote these characteristics? Branding yourself identifies who you are and what you stand for in the minds of prospects and your clients. Building your personal brand is the impression that prospects and clients have of your business. In today’s changing marketplace – with demanding customers and tough competition – you can’t do it alone. That’s why many successful real estate professionals join the Women’s Council of Realtors®. Not only do you get connected to the top professionals in the industry, but our regular business resource meetings, Performance Management Network courses, cutting edge information communications and national referral networking can make a difference for your brand, yourself and your business.
Are you ready to take your business to the next level? We invite you to attend our next business resource meeting and get to know the Women’s Council of Realtors®! Membership information, please contact Mary Hellhake, V.P. of Membership, at 941-544-0763.
Upcoming WCR Business Resource Meetings Friday, March 11, 11 a.m., Michael’s on East: “Time Management” - Speaker: Cheryl Stock Friday, April 8, 11 a.m., University Park Golf & Country Club: “Recognizing and Avoiding Fraud” - Speaker: Dept. of Financial Services Friday, May 24, 11 a.m. - District 13 Forum, Laurel Oaks G&CC Speaker: Robin McKeever, 2011 President, WCR Florida State Chapter 11 a.m.-12 noon Business Networking 12 noon – 1 p.m. Business Resource Meeting - For reservations contact Linda Witt at MZWitt@ aol.com - For Business Resource Meeting information contact Leslie Lauritano at leslie.lauritano@ regions.com
2011 Line Officers Cindi Jackson President Exit Realty Signature Properties Cell: 941-400-6091 cindi_title@yahoo.com
Mary Hellhake Vice-President Membership Michael Saunders & Company Cell: 941-544-0763 maryhellhake@michaelsaunders.com
Carrie Starr Rummery Recording Secretary Starr Title Insurance Phone: 941-365-7827 carrie@starrtitle.net
Marianne LeBar Vice President of Membership Michael Saunders & Company Cell: 941-650-0337
Sharyl Smith Treasurer Bank of Commerce Cell: 941-374-06302 ssmith@bankofcommercefl.com
Mary Mastro Corresponding Secretary Keller Williams Lakewood Ranch Cell: 941-586-2402 marypmastro@kw.com
mariannelebar@michaelsaunders.com 28
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Sarasota Realtor® Magazine
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The SAR International Council has a new name - the Global Business Council. The new Global Business Council will be a membershipbased group. The fee for membership is $25 per year. This will entitle the member to attend all SAR Global Seminars (excluding the annual International Congress and CIPS courses) and Socials free of charge during the year. All other attendees will pay a $10 fee to attend each event. An agent from another association has the option to join the Sarasota Association and become a member of the Council. Membership in the Global Business Council is open to all members (including Affiliates) of the Sarasota Association of Realtors®. The application is posted on the SAR web site (www.sarasotarealtors.com) under the International tab at the top of the front page. We encourage all agents to attend these educational seminars. There is an excellent chance that you will represent an international buyer in the future. To communicate effectively with global buyers, it is important to know the proper etiquette and understand the different cultures to communicate in their way of
doing business. The International 101 Seminar is scheduled for March 16th. The speakers will give you the information you need to know about the current immigration laws and options for foreign nationals, international funding and funds, lending for international buyers and a discussion on the importance of “green” lifestyles for the global buyer. Don’t miss it! In addition to the International 101 course, we are planning an International 102 followup course which goes into more detailed information for the beginner and the experienced global agent. Networking, marketing and many other issues will be discussed in this informative seminar. We have many seminars and events planned for the year which will assist you in your global business. Please join us for our seminars and networking events this year. If you have any questions, please contact Kristin Triolo, Chair of the Global Business Council, at Kristin@ KristinTriolo.com or by telephone (941) 725-2486 or Catherine McCaskill at catherine@sarasotarealtors.com.
Realtor® Quest reveals Sarasota to Canadians The recently rebranded Sarasota Association of Realtors® Global Business Council announces an exciting referral building opportunity for SAR members in Toronto on May 4-5. More Canadians purchase real estate in Florida, particularly on the west coast, than any other nationality. This is your chance to connect with 8,000 Realtors® at Realtor® Quest, Canada’s largest Realtor® trade show and conference. Maximize your marketing potential in the Canadian market, business to business, with Realtors® around the Toronto area. SAR has reserved a booth and is making time slots available to members who want to expand their network in this hot market. There are many business networking www.sarasotarealtors.com
opportunities when you are not working at the booth. Only nine spots are available, so don’t delay - register today. The deadline for payment is March 18, or when all spots are sold. Individuals may reserve only one slot until March 18. If all slots are not sold by March 18, remaining slots will become available (at $200 each) to participants. The cost of a two-hour slot is only $200. A maximum of two people may share a time slot. Slots will be randomly assigned by drawing to those who enter by the deadline. Slots at the end of each day are 90 minutes and cost $150 (if you draw one of these slots, your credit card will be refunded $50). There will be an additional cost of $40 per person
for the show pass which gives access to lunch and snacks on both days. Participants will be responsible for setting up and breaking down the exhibit booth.
Sarasota Realtor® Magazine
MARCH 2011
International Real Estate
Name change sparks SAR International
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Membership News
The Association is pleased to welcome new members! Designated Realtors®
Alexander, Ray: Engel & Voelkers Anna Maria Beles, Fred: Capital Real Estate Enterprise Dombrowski, Richard: Valencia Realty LLC Eslinger, Jeffery: Eslinger Realty Inc Freidus, Zev: Boca Executive Realty, LLC Keith, James: Premier Properties Realty Inc Schwartz, Karen: Realty Express
New Members
Aldrich, L. Chip: Coldwell Banker Res R E Bailey, Rebecca: Coldwell Banker Res R E Bastek, Bill: Coldwell Banker Res R E Bradshaw, Brenda: RE/MAX Alliance Group Brittain, Bill: Engel & Voelkers Anna Maria Brulato, Gina: Engel & Voelkers Anna Maria Carlo, Greta: Prudential Palms Realty Cenovova, Lenka: Amtrade Realty International Coletti, Lorraine: Coldwell Banker Res R E Colgate, Kimberly: Private Wealth Realty Inc. Conklin, Thomas: University Park Lifestyles Inc. Dennison, C. Scott: Michael Saunders & Company Dickson, Linda: Engel & Voelkers Anna Maria Ellis, Diane: Michael Saunders & Company Fertig, Beverly: Hook & Ladder Realty Inc. Frechette, Roger: Michael Saunders & Company Grossman, Deborah: Venice Real Estate Company Hampton, Susanne: Keller Williams Lakewood Ranch Kleckauskas, John: Venice Real Estate Company Lord, Diana: Sandals Realty of Sarasota Krijger, Claudette: Rosebay Properties Mann, S. Victoria: FL Int’l Realty of Sarasota Marra, Massimiliano: Keller Williams On The Water McLeod, Candice: Peens Property Group Inc. Melk, Karen: Michael Saunders & Company Murray, Irene: Michael Saunders & Company Muse, Susan: Sandals Realty of Sarasota Owen, Winston: Keller Williams On The Water Patterson, James: Engel & Voelkers Anna Maria Quinlan, Lori: Boca Executive Realty, LLC Rudek, Tina: Engel & Voelkers LBK Realty Seto, Steven: Century 21 Advantage Shkrob, Eleonora: Deluca Realty Inc. Silverman, Joshua: Caballero Realty Services Spencer, Carolyn: Engel & Voelkers Anna Maria
Now With ...
Aposporos, Thomas: J Wood Realty Arthur-Rodger, Pablo: Coldwell Banker Res R E Baldwin, Bob: Century 21 Dockside Rlty Assoc Beisser, Sharon: Prudential Florida WCI Realty Beles, Cecilia: Capital Real Estate Enterprise Bernet, Evelyn: Capital Real Estate Enterprise
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MARCH 2011
Cabot, Ed: Michael Saunders & Company Crawford, Marsha: J Wood Realty Cuddy, Shirley: Realty Services Inc. Cutmore, Julie: Keller Williams Lakewood Ranch Cutmore, Ian: Keller Williams Lakewood Ranch Drewett, David: Allison James Estates & Homes Ebury, Jane: RSVP Real Estate Company, Inc. Engstrom, Frauke: Sarasota Premier Properties Golden, Jo-Anne: Keller Williams Lakewood Ranch Gornnert, Gary: Century 21 Sorrento Realty Hegarty, Kerry: Peens Property Group Inc. Hickernell, Warren: Market America Realty and Invest Hudson, Linda: Keller Williams Lakewood Ranch Hutton, Timothy: Century 21 Sorrento Realty Ivester, David: Sarasota Real Estate Services Jarema, Laurie: Michael Saunders & Company Kaplan, Kristina: Charles Rutenberg Realty Inc. Kehrer, Gary: Capital Real Estate Enterprise Khleif, Albert: Capital Real Estate Enterprise Krijger, Claudette: Rosebay Properties, Inc. Lapasso, Francis: Keller Williams Lakewood Ranch Laver, Sean: Horizon Realty International Liberman, Marlene: Michael Saunders & Company Lind, Christopher: Prudential Lakewood Ranch Rlty McLoughlin, Shawn: Sandals Realty of Sarasota Parker, Gladys: Prudential Palms Realty Pheney, Beth: Signature Sothebys Internat’l Piper, David: Sarasota Premier Properties Quigley, Jay: Coldwell Banker Res R E Rausch, Glenn, Atchley International Realty Rempert, Deborah, Atchley International Realty Rigby, E. Lynn: Capital Real Estate Enterprise Rosenfeld, Sacha: Surfside Properties Saah, Shane: Michael Saunders & Company Saoud, Mike: Capital Real Estate Enterprise Schmitt, Margaret: Realty Services Inc. Sikdar, Rinat: Shirley International Realty Slattery, James: Market America Realty and Invest Sloan, Linda: Signature Sothebys Internat’l Soda, Jim: Keller Williams Lakewood Ranch Soda, Donna: Keller Williams Lakewood Ranch Speca, Christy: Sandals Realty of Sarasota Spiegel, Carol: Sarasota Premier Properties Spiegel, Irvin: Sarasota Premier Properties Strong, Jill: One Stop Realty of Sarasota Sullivan, Matthew: Meadows Real Estate Services Thomas, Steve: RER International Tirey, Curtis: Keller Williams on the Water Walter, John: Michael Saunders & Company Ward, Angela, Capital Real Estate Enterprise Wilson, Terrie: Coldwell Banker Res R E Wolff, Peter: Capital Real Estate Enterprise Zimmerman, Sylvia: Michael Saunders & Company
Sarasota Realtor® Magazine
Continued on P. 31, See MEMBERSHIP www.sarasotarealtors.com
UF survey indicates real estate outlook perking up Optimism has increased slowly but steadily in Florida real estate markets through the fourth quarter of 2010, a new University of Florida survey finds. The fourth quarter Survey of Emerging Market Conditions found improvement in several key categories, including the outlook for sales in new single-family homes and condominiums, office occupancy, retail occupancy, land investment and capital availability. Much of the optimism derives from politics with the defeat last fall of Amendment 4, a proposed constitutional amendment that would have required a referendum for all changes to local government comprehensive land-use plans, said Timothy Becker, director of UF’s Bergstrom Center for Real Estate Studies. The conclusion of mid-term elections also eased respondents’ uncertainty as it provided a clearer picture of the future. “The state welcomed a new governor who has promised to make Florida a more business-friendly state,” Becker said. “If he can succeed on his goals, respondents believe it will have a positive impact on the real estate market. Any help in attracting new business to move or form in the state will no doubt have a positive impact on job growth.” Survey respondents’ expectations for occupancy and rent increased across every property type. The investment outlook rose in a majority of the property types, and the statewide outlook was the highest since the survey’s inception in 2006. Additionally, private capital is abundant as investors seek the few good products on the market. Overall, the market appears to be improving and will continue to improve at a slow pace over the next year. Despite the positive outlooks in many asset classes, respondents’ optimism is tempered by troublesome economic factors, most notably Florida’s high unemployment rate of 12 percent. Respondents also relayed fears over federal, state and local budget issues. “Local revenues continue to decline as property values
MEMBERSHIP From Page 30
New Affiliates
Greenway Carpet Care
6553 Samba Drive Sarasota, FL 34241 Phone Number: 941-228-1917 Representative: Dave Eschenbach Specialty: Greenway Carpet Care, is owned and operated by Dave Eschenbach in Sarasota, Florida. He has been in the Sarasota carpet cleaning industry for over 20 years and www.sarasotarealtors.com
decline, placing a tremendous burden on local budgets,” Becker said. “This will require tough decisions by local officials.” The outlook for single-family and condominium sales increased slightly in the fourth quarter, but Becker said home builders continue to have a negative outlook because financing is difficult to obtain and lower prices in the foreclosure and short-sale market take potential customers away from the new housing market. Unexpectedly, however, respondents’ outlook for investment in residential development increased for both single-family homes and condominiums. Becker said the low cost of fully developed lots provides incentive for investors and developers. Expectations for office and retail occupancy continued to improve. Occupancy expectations in the office sector increased, and the outlook for rental rates increased slightly but is expected to continue lagging inflation. In the retail sector, occupancy expectations improved for all property types. Becker said respondents believe occupancy will increase in neighborhood centers and large retail centers. Accordingly, the investment outlook in retail increased for neighborhood centers while declining for the remaining property types. Land investment and capital availability also rose this quarter. More respondents believe land is beginning to be priced at levels that support longer-term investment, despite the fact that lack of financing for land purchases continues to be a concern. The optimistic outlook for capital is due in large part to respondents’ belief that future availability will increase. “Respondents believe there is a need to add additional apartment units based on the fundamentals and expect development financing to be available for that sector,” Becker said. “Private equity continues to be plentiful for quality core assets and valued-add assets.” - Florida Realtors® became certified in the care of fabric of all types. Dave is an I.I.C.R.C. certified cleaning specialist. Greenway Carpet Care is a certified firm with I.I.C.R.C. (Co. # 175912), a member of Ethical Services and an honored member of Business Network International. Greenway Carpet Care is dedicated to helping Sarasota homeowners get the highest return from their carpet and hard surface floor covering investment. We welcome your inquiries and will gladly answer your questions over the phone at 941-228-1917. We clean Carpet, Tile & Grout, Hardwood Floors, Area Rugs and Upholstery. Email: djdave8@verizon.net
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E DUCATION & E VENTS C ALENDAR Monday Feb. 28
9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings
Tuesday March 1
Wednesday 2
7:30 a.m. Toastmasters 9 a.m. Tax Implications Short Sale Seminar
Thursday 3
8 a.m. Power Marketing (University Park CC)
PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451
MARCH 2011
250 200 150 100 50
Friday
0
4
9 a.m. CID Commercial Marketplace
1,200 1,000
9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings
14
9 a.m.– 4 p.m. New Member Orientation & Code of Ethics
8
9 a.m. Design Web Pages 1:30 p.m. MLXchange Advanced
9
9 a.m. QuickBooks Seminar
10
8 a.m. Power Marketing (SAR)
9 a.m. CID Commercial Marketplace
600 400 200
15
8:30 a.m. CID General Membership
16
17
7:30 a.m. Toastmasters 9 a.m. International 101 12 p.m. Real Estate Holdings
8 a.m. Power Marketing (SAR)
9 a.m. CID Commercial Marketplace-Off Site
22
23 9 a.m. Craig Proctor Seminar
24
8 a.m. Power Marketing (SAR) 5 p.m. Realtor-Attorney Social Gecko’s
9 a.m. CID Commercial Marketplace
28
29
30
31
April 1
9 a.m. iMAPP 1:30 p.m. Creating a CMA 5 p.m. Affiliate Social The Loft Ristobar
9 a.m. Emerging Leaders Seminar
8 a.m. Power Marketing (SAR)
18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0
25
9 a.m. CID Commercial Marketplace
Note: All events/classes are at SAR, except where noted
My Florida Regional MLS Training
0
18
21
9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings
800
11
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 Education and Training.
Sarasota Association of Realtors®, Inc. 3590 S. Tuttle Ave. Sarasota, FL 34239
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Condo
250 200 150 100 50 0 Jan‐10
Feb‐10
Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
New Listings
Nov‐10
Dec‐10
Jan‐11
Single Family Condo
1,200 1,000 800 600 400 200 0 Jan‐10
Feb‐10 Mar‐10
Apr‐10 May‐10 Jun‐10
Jul‐10
Aug‐10
Sep‐10
Months of Inventory
18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 Jan‐10
Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10
Jul‐10
Aug‐10
Sales Volume $200,000,000 $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0
Sep‐10
Oct‐10 Nov‐10 Dec‐10 Single Family
Jan‐11
Condo
Oct‐10 Nov‐10 Dec‐10 Single Family
Jan‐11
Condo
Sarasota Association of Realtors® MLS
Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10
Jul‐10 Aug‐10 Sep‐10 Oct‐10 Nov‐10 Dec‐10 Jan‐11
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Single Family
Days on Market
Fourth Quarter 2010 Report Single Family Sales ‐ By Quarter
REO
Short
Arm's Length
1200 1000 800 600 400 200 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4
Condo Sales ‐ By Quarter
REO
Short
Arm's Length
500 400 300 200 100 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4
Single Family Median Sale Price
REO
Short
Arm's Length
$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2008‐2ndQ
2008‐3rdQ
2008‐4thQ
2009‐1stQ
2009‐2ndQ
2009‐3rdQ
2009‐4thQ
Condo Median Sale Price
2010‐Q1
REO
2010‐Q2
Short
2010‐Q3
2010‐Q4
Arm's Length
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000
Source: Sarasota Association of Realtors®
$100,000 $50,000 $0 2008‐2ndQ
2008‐3rdQ
2008‐4thQ
2009‐1stQ
2009‐2ndQ
2009‐3rdQ
2009‐4thQ
2010‐Q1
2010‐Q2
2010‐Q3
2010‐Q4
Single Family Condo
REO Sales ‐ By Quarter 600 500 400 300 200 100 0
2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 Single Family
Short Sales ‐ By Quarter
Condo
400 350 300 250 200 150 100 50 0
2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4
Arm's Length Sales ‐ By Quarter
Single Family Condo
1200 1000 800 600 400 200 0 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4
Source: Sarasota Association of Realtors®
Annual Sales ‐ 2000 to 2010 Single Family
Condo
Total
11267 10562 9697 8167 7603
7,596 7036
6533
6,841
6,504
6739
6358
6042
5,603
4,626
4,353
4,349 3,193
3,922
3,721
3,671
2,564
2,096
2,137
2,120
2,005
1,194
2000
2001
2002
5,466
5,183
4,940
2,184
5820
2003
2004
2005
2006
2007
2008
1,556
2009
2010
Annual Median Sale Price ‐ 2000 to 2010 Condo
Single Family
$351,000
$342,000
$272,500 $305,000
$226,000 $172,500
$132,300
2000
$303,000
$210,000 $163,000
$230,000
$191,000
$142,000
$320,000
$301,225
$225,000
$191,000
$336,250
$173,000 $160,000
$145,000
2001
2002
2003
2004
2005
2006
2007
2008
2009
$163,000
2010