Sarasota / Manatee Realtor Magazine - RASM - February 2016 Issue by REALTOR® Association of Sarasota and Manatee

Sarasota/Manatee

REALTOR

The Official Publication of the Realtor® Association of Sarasota and Manatee

February 2016

TONY VELDKAMP, CCIM

2016 CID President

Continuing the strong legacy of the CID by

“Keep on Keeping on”

THE HIGHEST EARNING AGENTS HAVE ONE THING IN COMMON

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Dates Tuesday and Wednesday,

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All agents are welcome to attend, regardless of brand affiliation.

CRS Credit

CE Credit 11 hours of CE credit for Florida REALTORS®

16 units of elective credit towards the CRS designation

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Sarasota/Manatee Realtor®

Sarasota/Manatee

REALTOR table of contents

Volume 13 Issue 2 FEBRUARY 2016

Realtor® Association of Sarasota and Manatee

Visit our website at www.MyRASM.com for Association news, events and services

Tony Veldkamp - 2016 CID President Tony takes us on an historic tour of the changing commercial landscape through the years.

2016 RASM YPN Introducing the 2016 RASM Committee Leaders - get to know this enterprising, young team of industry professionals.

Market Analysis 2015 was one for the record books in real estate sales for both Sarasota and Manatee counties.

CID is Starting the Year Strong

South Office - 2320 Cattlemen Road Sarasota, Florida 34232 North Office - 10910 Technology Terrace Lakewood Ranch, FL 34211 Phone: 941-952-3400 FAX: 941-952-3401 www.MyRASM.com

2016 Association Officers President Linda Formella Michael Saunders & Company President-Elect Xena Vallone Xena Vallone Realty Secretary Amy Worth RE/MAX Platinum Realty Treasurer Greg Owens Keller Williams on the Water Immediate Past President Stafford Starcher RE/MAX Alliance Group Chief Executive Officer Kathy Roberts

2016 is off to a great start for the Commercial Investment Division of RASM.

Mission Statement The mission of the Realtor® Association of Sarasota and Manatee is to keep the Realtor® central to the real estate transaction by advancing members’ professionalism and expertise while upholding the Realtors® Code of Ethics. We are committed to protecting private property rights in the communities we serve.

Neighborhood Spotlight

Sarasota/Manatee Realtor® is published monthly by the Realtor® Association of Sarasota and Manatee, Inc.

Georgina Clamage, of Michael Saunders & Company, is our tour guide through the beautiful and quaint barrier island of Long Boat Key.

Editorial Staff Director of Membership & Broker Services Dan Andrews Director of Information Technology Jesse Sunday Director of Professional Development Catherine McCaskill Governmental Aff airs Director Adam R. Davis

In Every Issue

Production Coastal Printing, Inc.

12 - Realtor®- Attorney Joint Committee 13 - Sales and Listing Statistics 18 - Commercial Investment Division 20 - Education Programs 25 - Governmental Affairs 27 - Neighborhood Spotlight 28 - Membership 30 - WCR Report 32 - Calendar of Events/Education

Magazine Editor Beth Sunday Sarasota/Manatee Realtor® Advertising: For information on advertising rates and deadlines, contact Beth Sunday at 941-952-3417 or email Beth@MyRASM.com. Subscriptions: The annual dues of every member of the Realtor® Association of Sarasota and Manatee, Inc., includes a one-year subscription to Sarasota/Manatee 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 Realtor® Association of Sarasota and Manatee, Inc. All submitted copy is subject to editing.

On the Cover

Tony Veldkamp, CCIM, 2016 CID President Sperry Van Ness Commercial Advisory Group

FEBRUARY 2016

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

RASM Welcomes Gina White: Marketing & Commuications Manager The Realtor® Association of Sarasota and Manatee welcomes Gina White as Marketing and Communications Manager. A Sarasota native, Gina has a background in public relations, digital marketing and graphic design. She most recently served as the Communications Coordinator for The Greater Sarasota Chamber of Commerce. No stranger to membership organizations, her role in this position will include the execution of effective marketing and communication tools to better serve the membership and community. She will also take on the position of staff liaison for the Communications, Community Outreach, and Scholarship Committees. Referring to her new position Gina said, “I’m excited to be a part of the team at the Realtor® Association of Sarasota and Manatee. I hope to use this opportunity to not only provide quality service to our members but to also market all of the great work these members are doing in our community.” Gina graduated from the University of North Florida with a Bachelor of Science in Communication with a focus in Public Relations. She enjoys spending time with friends and family, playing volleyball and exploring all her hometown has to offer.

www.MyRASM.com

Lynette Warnars: Business Partner Spotlight Lynette Warnars is a Senior Residential Loan Originator with Insignia Bank, based out of the Downtown Sarasota Office. Lynette is a graduate of Walsh College of Business Administration & Accountancy with a Master’s Degree in Management and a Bachelor’s Degree in Finance. She has specialized in Jumbo Loan mortgages for 30 years from the Gulf Coast to the Golf Course communities in Southwest Florida. Lynette believes being able to tailor products to meet individual lending needs enables her to best serve her customers. Lynette is active in the local community as a member of the Realtor® Association of Sarasota and Manatee, as well as the Sarasota and Longboat Key Chambers.

NMLS# 1014181 941-302-5073 lwarnars@insigniabank.com

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

Cover story - Tony VEldkamp Adapting to Our Constantly Changing Commercial Real Estate Market

Why Chameleons are more successful! The year was 1991. Hard to believe that was 25 years ago now. That was the year that new RASM Commercial Investment Division (CID) President Tony Veldkamp moved to Sarasota. As a recent college graduate of FSU with a degree in real estate, he and his wife Debbie, a Bradenton native, settled in the Sarasota area with their new baby daughter so Tony could become a real estate appraiser with Chapman & Associates. In 1991 both University Parkway and Clark Roads were two lane roads and University dead-ended at I-75. Main Street in downtown Sarasota was a one-way street and there was no downtown movie theatre. The old Ringling Hotel sat abandoned on the current site of the Ritz Carlton, the Sarasota Quay sat next door struggling to make it work, and the Old Heidelberg Restaurant served beer and knockwurst where Walgreens now sits at Fruitville and U.S. 301. In Manatee County the term “East County” referred to anything east of the Braden River and Cortez Road was where all businesses wanted to be. Of course Lakewood Ranch did not exist and Benderson Development had not yet discovered the Sun Coast. Anyone remember the race between the two new Outlet Malls as to which one could get the tenants and open first? Ellenton beat University Parkway by the way, but University may have gotten the final revenge. Commercial Realtors® practicing in the Sarasota and Manatee market have witnessed and experienced all of these changes. They have had to adapt to this ever changing market as different commercial real estate products heat up and cool down, as different markets and sub-markets heat up and cool down. The agent who can adapt, be a chameleon, is the one who will be successful year after year. All along the way, the Commercial Investment Division has provided a platform for commercial practitioners to adapt, learn, network and be successful. After three or four years as an appraiser, Tony Veldkamp left the appraisal profession and became a commercial real estate salesperson for a small boutique firm in Bradenton called Brown Real Estate. They specialized in land and development which was timely in the mid-to-late ‘90s as that was the time of the “great land rush” in east Manatee County. This was when everyone wanted to own a 5 or 10-acre homestead and Panther Ridge happened. Then the end of the ‘90s saw a new subdivision entrance open on SR 70……something called “Lakewood Ranch”.

FEBRUARY 2016

Tony Veldkamp with wife, Debbie, at the 2015 RASM Installation Banquet.

In the early 2000s it was announced that the Ritz Carlton was coming to Sarasota and the commercial real estate brokers knew that Sarasota had “made it”. The predictions were that this would greatly accelerate growth in our market, but they had no idea how much. In 1999 Tony left Brown Real Estate and joined the Commercial Division of Michael Saunders & Company, where they enjoyed the “go-go” days of the early to mid-2000s. The commercial real estate market was hitting on all cylinders and retail, office, industrial and land were all hot commodities. Tony sold apartment sites that then became condo sites as the price rose and the site was never developed. It would change hands several times, rising in price each time, until the pyramid collapsed and someone was left holding the bag. As the land market got too overheated in 2004 and 2005, land specialists like Tony had to change and adapt and find other products to work on. Then during the bust they had to do it again. During the crash and slow times of 2007-2010 the mantra at CID became “Just wait until next year!” They even had black tee shirts printed up with “RIP” and the year listed. Each year commercial real estate agents waited while they adapted and did a lot of small, short-term leases. Those that survived and continued on, saw the local residential real estate market start to recover in 2010 and they got excited because they knew this would trickle down to commercial real estate. In 2011 that is what started to happen. 2011 saw a reshuffling of commercial real estate firms in the market as commercial real estate agents were trying to find the best platform for their business as the market began to recover. It was during this time that Tony left the Michael Saunders Commercial Division and joined a new Sperry Van Ness franchise office as the Managing Director and as a commercial real estate broker. He quickly assembled a team of 14-15 commercial real estate agents and their office has had record sales and leasing volume growth each year. This was also the year that Tony joined the CID Board at the then Sarasota Association of Realtors®.

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

The past four years has shown tremendous improvement in the commercial real estate market and commercial Realtors® continue to adapt. First there was the run-up in apartments. Prices rose quickly and sales were brisk. Then retail became popular again and the top retail spots in the market began to fill up. Triple net investments and leased medical investments have been hot but with interest rates rising, or the threat of that anyway, those have started to cool off. Now office space is back in demand as spaces are filling, rates are rising, and developers are starting to look at building again! Through all of the past 25 years with boom, bust and boom again, the RASM CID has been there all along the way. Providing that stable organization for commercial real estate agents to learn, network, and put deals together. Tony Veldkamp has been very proud to have been part of the local market, a member of CID, and believes there is no place better to live, work and raise a family than the Sun Coast. Tony and Debbie will celebrate 28 years of marriage this year. They have raised four kids here, all going through a great public school system, and they are very proud of them all. Their oldest two daughters are both married and teach in central Florida. Their oldest son is in the Marine Corps Reserves and will be attending FSU this summer. Their youngest son was adopted from the Sarasota foster care system and is doing very well at Ashton Elementary. Debbie is the school counselor at Sarasota Military Prep School.

www.MyRASM.com

“Keep on keeping on,” my theme for a prosperous 2016. The CID has been a very successful organization with great leadership through the years. My goal is to make minor adjustments, making everything just a little better, focusing on improving the structure and developing the next leaders of CID.” Tony Veldkamp 2016 CID President

Tony’s theme for CID during his presidency sounds like a slogan from the 1970s; “Keep on keeping on.” What he means is that CID has been a very successful organization with great leadership through the years. His desire is to just make minor adjustments to the organization, making everything just a little better, and focusing on improving the structure and developing the next leaders of CID. And he hopes the continual improving commercial real estate market “Keeps on keeping on,” too.

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

Picking the right school at the start can lead to some colorful choices.

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New Agent Playbook now Available Online Bob

Chuck

Jim

If you are new to the real estate profession, check out a new resource available on our website. The New Agent Playbook has been posted, and it contains a wealth of material designed for your rookie season in real estate! Visit www.MyRASM.com under the Education tab! Build a great foundation for your future! Educational opportunities, licensing requirements, strategies for success, communication tips and so much more are contained in this step-by-step guide for building a solid career foundation. The high-quality PDF is viewable as an online document, or print to keep at your desk - you’ll refer to it throughout the year, and into your bright future!

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Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

rasm YPN committee We want you to get to know the YPN leaders for 2016 a little better, so we asked them a few questions

eet Your YPN Leaders for 2016!

FEBRUARY 2016

Chair, Brenton Cloud • Title: Vice President, Cloud Termite and Pest Control • New year’s resolution: Work smarter and not harder • If I could have dinner with anyone, dead or alive, who would it be?: John D Rockefeller

Co-Chair Community Outreach, Brad Benson • Title: Vice President of Mortgage and Branch Manager for Guaranteed Rate • New year’s resolution: Improve on the work / life balance • If I could have dinner with anyone, dead or alive, who would it be?: Steve Jobs

Vice Chair, Robert Milligan • Title: Qualifying Broker FL, Allison James Estates & Homes • New year’s resolution: Become a proficient sailor • If I could have dinner with anyone, dead or alive, who would it be?: Benjamin Franklin

Co-Chair, Communications, Brian Tresidder • Title: Broker and Co-Owner, Key Solutions Real Estate • New year’s resolution: Travel more • If I could have dinner with anyone, dead or alive, who would it be?: Benjamin Franklin

MLS Express Caravan Director, Alex Krumm • Title: Realtor®, Re/Max Alliance Group • New year’s resolution: To create a lean, mean, real estate team machine that runs as clean as you’ve ever seen • If I could have dinner with anyone, dead or alive, who would it be?: John Lennon

Co-Chair, Communications, Elizabeth Reynolds • Title: Marketing Director, Innovative Agent Services • New year’s resolution: Strive for progress, not perfection. • If I could have dinner with anyone, dead or alive, who would it be?: My Grandma, Barb

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

and here’s what we found out. We look forward to getting to know you better this year!

www.MyRASM.com

Co-Chair, Education, Jacqueline Mazur • Title: Marketing and Business Director, Berlin Patten Ebling PLLC • New year’s resolution: Have more grace in everything I do • If I could have dinner with anyone, dead or alive, who would it be?: Billie Holiday

Co-Chair, RealTOUR Events, Allison Sadar • Title: Realtor®, Coldwell Banker Residential Real Estate • New year’s resolution: Improving and perfecting my work, health, and client relationships; become more involved in community organizations • If I could have dinner with anyone, dead or alive, who would it be?: Jacqueline Kennedy Onassis

Co-Chair, Education, Selina Wiggins • Title: Realtor®, Unique Realty of Manatee, LLC • New year’s resolution: Accomplish the challenges of living on a daily basis • If I could have dinner with anyone, dead or alive, who would it be?: Michelle Obama

Co-Chair, RealTOUR Events, Valerie Roberts • Title: Realtor®, Allison James Estates & Homes • New year’s resolution: Watch more sunsets • If I could have dinner with anyone, dead or alive, who would it be?: Audrey Hepburn

Co-Chair, Education, Ryan Skrzypkowski • Title: Realtor®, Allison James Estates & Homes • New year’s resolution: To create a plan and stick to it, run a business by design rather than be ran by a business • If I could have dinner with anyone, dead or alive, who would it be?: My grandfather

Amanda Durbin, Co-Chair RealTOUR • Title: Administrative Assistant, Key Solutions Real Estate • New year’s resolution: Learn to play the guitar • If I could have dinner with anyone, dead or alive, who would it be?: Billie Holiday or Ella Fitzgerald

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

REALTOR® - ATTORNEY JOINT COMMITtee Inspections and Repairs Under an AS-IS Contract By: Jeffrey A. Grebe, Esq.

The majority of residential real estate contracts in Florida these days are written on the FR-BAR AS-IS contract. This article will answer some frequently asked questions regarding the FR-BAR AS-IS contract, with a focus on how inspections and repairs are handled under the AS-IS contract. What is “AS-IS”? AS-IS is essentially a warranty disclaimer. Property is often sold AS-IS in order to limit any liability relating to the condition of the property. How does the AS-IS contract differ from the standard FR-BAR contract? Aside from the general AS-IS disclaimer, the main difference is how inspections and repairs are handled. Under the standard contract, seller is obligated to repair defective items up to a repair limit. If the cost of repairs exceeds the repair limit, seller can elect to repair all defective items, or buyer can elect to have seller repair certain defective items up to the repair limit. If neither election is made, either party can cancel the contract. The procedure is much simpler under the AS-IS contract. Seller has no obligation to repair anything, but buyer can cancel the contract within the inspection period if buyer determines the property is not acceptable. There are a couple other notable differences between the two contracts pertaining to inspections and repairs. First, the AS-IS contract has no limitation on the type of inspections or who can do these inspections, compared to the standard contract which limits the items that can be inspected and who can inspect them. For example, under the AS-IS contract a buyer can get a mold inspection, which cannot be done under the standard contract (unless there is a separate mold inspection addendum). Second, under the AS-IS contract anyone (including buyer) can inspect the property, compared to the requirement of using a professional inspector under the standard contract. Is buyer’s only option under the AS-IS contract to cancel? Technically yes. Practically, however, buyer’s ability to cancel gives buyer significant leverage to negotiate for certain repairs, a price reduction, or a repair credit (often recaptioned a “closing cost” credit if buyer is getting a loan). Does a zero repair limit under the standard contract make it an AS-IS contract? A major (and perhaps the only) similarity is that seller is not obligated to make any repairs. However, the parties under the standard contract must still follow the extensive inspection

FEBRUARY 2016

and repair provisions. These include: (1) buyer must still give notice of defects, (2) seller must still obtain written repair estimates, (3) buyer cannot cancel if seller agrees to make all requested repairs, and (4) if seller does not agree to make all repairs, seller can cancel if buyer fails to elect to take the property in its AS-IS condition. What are the differences between the AS-IS contract, the AS-IS addendum, and the right to inspect and right to cancel addendum? • Addendum K – AS-IS. Legally, there is no distinction between the AS-IS contract and the standard contract with Addendum K attached. However, the AS-IS contract is much cleaner and easier to use. A typical circumstance where it makes sense to use the AS-IS addendum is when the parties, as part of the contract negotiations, decide to convert the standard contract into an AS-IS sale. This usually occurs when seller agrees to a reduced price in exchange for buyer taking the property AS-IS. • Addendum L – Right to Inspect and Right to Cancel. From a buyer’s perspective, this is the best of both worlds. Buyer can cancel the contract if buyer is not satisfied with the condition of the property, but seller is still obligated to repair defective items (up to the repair limit) if buyer does not cancel. Does selling property AS-IS relieve seller of any disclosure obligations? The simple answer is no. Seller (and listing agents) are still required to disclose known hidden issues or defects that materially affect the value of the property, notwithstanding that the property is being sold AS-IS. Who typically uses an AS-IS contract? Bank-owned properties (a/k/a REO properties) are always sold AS-IS. Similarly, institutional trustees and fiduciaries typically sell property AS-IS. A seller may also decide to sell property AS-IS if seller knows the property is in a state of disrepair, or (as previously stated) if seller agrees to a significant price reduction. A buyer, on the other hand, may use the AS-IS contract to make buyer’s offer more attractive (e.g., in a multiple offer scenario), or to tie up the property while buyer continues to look at other properties (often to the consternation of seller and listing agent). For a complete discussion of other related topics, please refer to my Inspections and Repairs materials under the Presentations tab at www.williamsparker.com/publications. Jeffrey A. Grebe is a shareholder at the Williams Parker law firm, and was the 2015 Chair of the RASM Realtor® Attorney Joint Committee.

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

Ringing in the New Year with RecordBreaking Sales 2015 was one for the record books in real estate sales for both Sarasota and Manatee counties, closing out the year with an all-time record of 20,691 in combined closed transactions, 1,302 sales above last year’s numbers. “These truly are exciting times for the real estate community, and reflects the hard work and dedication of our Realtor® members,” said Linda Formella, RASM President. “Our industry has been steadily and soundly rebuilding and I am so proud of our professional Realtors® and all the industries that support the real estate community.” There were 1,671 combined sales in both counties in December 2015, 28 percent higher than November, but down slightly from December 2014. Median sale prices increased across the board. Single family prices rose 22 percent in Sarasota County to $239,900 and nearly 12 percent to $262,963 in Manatee County. Condo prices were also up 22 percent in Sarasota County, at $217,000, compared to $178,249 for Manatee County, an increase of 6 percent. Inventory of available properties continued to decline in both counties. For single family homes in Sarasota County, inventory is down 2.8 percent from December last year, and down 3.2 percent in Manatee County. Condo inventory for Sarasota County is down a mere 1 percent, while Manatee County increased 4 percent. New Pending sales, which reflect new contracts written in the two-county area, were down 11.3 percent for single family homes, and remained unchanged for condo sales year over year. This may be a reflection of the declining inventory of properties for sale, as buyers face the challenge of finding the right property and even then may face a multiple-offer situation, competing against other buyers for the same property. The two-county area saw the month’s supply of inventory remain well below the 6-month level, that typically defines a market in equilibrium between buyers and sellers, with a 3.8 month’s supply, in Sarasota County compared to 3.9 in Manatee. The month’s supply of condos in Sarasota County is 4.1, and 4.3 months in Manatee. The drop in the percentage of distressed sales signals another sign of health in the market. Both the number of distressed sales and the share of the market have continued to decline, signaling our continued recovery. Distressed sales for single family homes were down 49 percent from last year

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innovative

AGENT SERVICES

in Sarasota County and 46 percent in Manatee. Condo distressed sales were down 25 percent in Sarasota County and 47 percent in Manatee County. In December, there were only 195 distressed sales in the two counties reported in the MLS. That represented just under 12 percent of all sales, compared to the peak of 48 percent a few years ago. “2015 has been such an exciting and historic year for our two-county area,” noted Formella. “We live and work in paradise and more and more people want to be a part of it. I am looking forward to a healthy year of steady growth in 2016.”

HIGH IMPACT TARGET

Elizabeth Reynolds

MARKETING

MARKETING DIRECTOR

941.921.5027 HOL]DEHWK#ÁRULGDDVVLVWDQW FRP ZZZ )ORULGD$VVLVWDQW FRP connect with us.

www.MyRASM.com

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

Monthly Market Summa Summary - December 2015 Summar Single Family Homes SSarasota t County C t December 2015

December 2014

Percent Change Year-over-Year

Closed Sales

661

659

0.3%

Cash Sales

289

325

-11.1%

New Pending Sales

440

501

-12.2%

New Listings

750

780

-3.8%

Median Sale Price

$239,900

$195,500

22.7%

Average Sale Price

$354,880

$285,918

24.1%

-25.0%

95.4%

93.1%

2.5%

686

749

-8.4%

Inventory (Active Listings)

2,620

2,696

-2.8%

Months Supply of Inventory

3.8

4.1

-8.6%

Median Days on Market Avg. Percent of Original List Price Received Pending Inventory

2011

900

2012

2013

2014

2015

Closed Sales

800 700 600 500 400 300 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

Median Sale Price

$250K $230K $210K $190K $170K $150K $130K $110K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

Total Inventory

5,000 4,500 4,000 3,500 3,000 2,500 2,000 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

FEBRUARY 2016

2012

2013

Sarasota/Manatee Realtor速 Magazine

2014

2015

www.MyRASM.com

Monthly Market Summa Summary - December 2015 Summar Single Family Homes Manatee M t County C t December 2015

December 2014

Percent Change Year-over-Year

Closed Sales

538

553

-2.7%

Cash Sales

201

226

-11.1%

New Pending Sales

337

375

-10.1%

New Listings

549

544

0.9%

Median Sale Price

$262,963

$235,000

11.9%

Average Sale Price

$355,056

$292,408

21.4%

-9.6%

95.3%

94.2%

1.2%

519

538

-3.5%

Inventory (Active Listings)

1,996

2,063

-3.2%

Months Supply of Inventory

3.9

4.3

-9.0%

Median Days on Market Avg. Percent of Original List Price Received Pending Inventory

2011

700

2012

2013

2014

2015

Closed Sales

600 500 400 300 200 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

Median Sale Price

$280K $260K $240K $220K $200K $180K $160K $140K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

Total Inventory

3,500 3,000 2,500 2,000 1,500 1,000 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

www.MyRASM.com

2012

2013

Sarasota/Manatee Realtor速 Magazine

2014

2015

FEBRUARY 2016

Monthly Market Summary - December 2015 Townhouses and Condos SSarasota t County C t December 2015

December 2014

Percent Change Year-over-Year

Closed Sales

268

270

-0.7%

Cash Sales

185

177

4.5%

New Pending Sales

192

190

1.1%

New Listings

356

342

4.1%

Median Sale Price

$217,000

$177,500

22.3%

Average Sale Price

$281,534

$257,090

9.5%

-6.7%

94.7%

93.2%

1.6%

335

272

23.2%

Inventory (Active Listings)

1,277

1,290

-1.0%

Months Supply of Inventory

4.1

4.3

-6.2%

Median Days on Market Avg. Percent of Original List Price Received Pending Inventory

2011

500

2012

2013

2014

2015

Closed Sales

450 400 350 300 250 200 150 100 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

Median Sale Price

$240K $220K $200K $180K $160K $140K $120K

Total Inventory

J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND 3,000 2,800 2,600 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

FEBRUARY 2016

2012

2013

Sarasota/Manatee Realtor速 Magazine

2014

2015

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Monthly Market Summary - December 2015 Townhouses and Condos Manatee M t County C t December 2015

December 2014

Percent Change Year-over-Year

Closed Sales

204

213

-4.2%

Cash Sales

127

145

-12.4%

New Pending Sales

136

138

-1.4%

New Listings

274

251

9.2%

Median Sale Price

$178,249

$168,000

6.1%

Average Sale Price

$215,703

$216,910

-0.6%

-21.8%

95.7%

93.2%

2.7%

Pending Inventory

203

175

16.0%

Inventory (Active Listings)

874

840

4.0%

Months Supply of Inventory

4.3

4.6

-6.2%

Median Days on Market Avg. Percent of Original List Price Received

2011

Closed Sales

300

2012

2013

2014

2015

250 200 150 100 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

Median Sale Price

$200K $180K $160K $140K $120K $100K $80K

Total Inventory

J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

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2012

2013

Sarasota/Manatee Realtor速 Magazine

2014

2015

FEBRUARY 2016

commercial investment division Enthusiastic for a Spectacular 2016 with Tony Veldkamp at the Helm By Tony Veldkamp, CCIM, 2016 CID President 2016 is off to a great start for the Commercial Investment Division of RASM. At January’s general membership meeting, we had a great panel comprised of commercial real estate lenders, discussing the commercial real estate lending environment and what is ahead for 2016. The panel was led by Charlie Brown, Chairman and Tony Veldkamp CEO of Insignia Bank, who is also 2016 CID a CID Board member. Thank you President Charlie! We appreciate you leading this informative panel. In February we are once again very lucky to have Ted C. Jones, PHD, an economist with Stewart Title, presenting an economic update to our group. We thank our CID affiliate member, Stewart Title and Cathleen Acosta for once again bringing Dr. Jones to address our group, and agreeing to sponsor our hot breakfast! As a member of CID, you have many opportunities to utilize your membership to the benefit of your business. As described above, we have our monthly general membership meetings on the third Tuesday of the month, where a guest speaker comes in to address our group on a topic that is both timely and informative. We are always looking for great meeting ideas and for sponsors of our hot breakfast each month. If you would like to share a programming idea or sponsor the breakfast, please contact myself, Rico Boeras with Sarasota Commercial Realty, our President-Elect, or Adam Davis our staff liaison with RASM. In addition to our monthly general membership meeting, Erick Shumway with Re/Max Alliance Group heads up our

Friday morning commercial real estate pitch session, assisted by Michael Gallatin with SVN Commercial Advisory Group. This is held the 1st, 2nd and 4th Fridays of the month at the South office, and the 3rd Friday of the month at the North office. CID members and affiliate members are encouraged to come and pitch their commercial real estate listings and wants, or their services. Other benefits of CID membership include various educational offerings and social events we hold each year. Pay close attention to our calendar and eblasts as we post these events throughout the year. Ideas we are pursuing for 2016 include a walking tour of the Rosemary District followed by a social event at one of the downtown bars or restaurants, hosting a CCIM class, and online videos to educate our members. If you are a member of RASM and practice commercial real estate, you have the option of subscribing to our very own Commercial Real Estate Information Exchange called MFCRE – My Florida Commercial Real Estate. This is the “Commercial MLS” for placing your commercial real estate listings in for maximum exposure to commercial practitioners. We strongly recommend it to sell or lease your commercial real estate listings more quickly! Of course the best way to get the most out of your CID membership is to get involved! We have many committees set up to provide services and opportunities to our members, and we encourage you to volunteer and get involved! Please contact one of our committee chairs to get involved today! We’ll need the most help for our annual golf tournament fund raiser which falls under “Public Relations” and will be held later this year. Over the years, CID has donated several tens of thousands of dollars to local charities. Reach out to Ken Hoskinson if you know you want to get involved. Your CID Board wishes you a very happy February!

2016 CID Committee Chairs: Commitee: Programing Membership MFCRE Education Public Policy Public Relations Social

Chair: Rico Boeras David Roth Joe C. Hembree Susan Goldstein Peter Skokos Ken Hoskinson Sean Dreznin

Company: Sarasota Commercial Realty ReMax Alliance Group Hembree & Associates Michael Saunders Commercial Norton, Hammersley, Lopez & Skokos, P.A. Hembree & Associates Ian Black & Associates

Email: rico@sarasotacommercialrealty.net davidroth@remax.net jchembree@hembreeco.com susangoldstein@michaelsaunders.com pskokos@nhlslaw.com khoskinson@hembreeco.com sean@ian-black.com

CID General Membership Meeting: Date: February 16, 2016 Location: South Office: 2320 Cattlemen Road, Sarasota Time: 8:00 a.m.

FEBRUARY 2016

Sponsored by: Stewart Title Featuring: February’s meeting will feature Dr. Ted C. Jones, Chief Economist & Senior Vice President of Stewart Title Guaranty Company. Ted’s specialty is applied real estate research.

Sarasota/Manatee Realtor® Magazine

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global business council Current Issues on Visas and Immigration: Impact on Real Estate Markets By Barbara Clemann, Keller Williams on the Water

Marie Avery 2016 Global Business Council Chair

As Florida RealtorsÂŽ we might not think that the latest immigration rules to the Visa Waiver Program (VWP) that were passed by the House of Representatives are going to affect our business. However, these new immigration rules can hinder buyers from certain countries. Prior to the new reforms, international buyers from several countries did not need a visa for the United States under the VWP, to buy or return to, the properties they presently own in United States.

Some countries were removed from the VWP, requiring foreigners attempting to visit the USA to first apply and be granted a visa. According to NAR, the international sales of residential properties is 24% of Floridaâ&#x20AC;&#x2122;s dollar volume sales, which totaled $23.7 billion (over the 12-month period ending June 2015). EB-5 is another visa program for international investors that is being reviewed by lawmakers for changes. This is a program that the U.S. government runs that grants permanent residency to foreigners who invest at least $1,000,000 into a job-creating environment. Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by these foreign investors. In 1992, Congress expanded the EB-5 program by adding the â&#x20AC;&#x2DC;Regional Center Programâ&#x20AC;&#x2122; for Immigrant Investors to spend a minimum of

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$500,000. These regional centers have to be approved by USCIS (United States Citizenship and Immigration Services), based on proposals for promoting economic growth in TEA (Targeted Employment Areas). Regarding the EB-5 program, on October 12, 2015, CNN Money published, â&#x20AC;&#x153;supporters of the program say foreign investors have provided an important alternative source of financing, benefiting major real estate investments, such as Brooklynâ&#x20AC;&#x2122;s Atlantic Yards and smaller projects, like a North Dakota factory that makes biodegradable food containers. Critics argue that it is a way for the global elite to buy U.S. citizenship. Furthermore, critics say the scheme has too much red tape and parts of it are mismanaged to the point of fraud.â&#x20AC;? This is critical to your international business! Learn the reforms that affect the business of your international buyers!

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education programs Increase Your Real Estate Sales with Feng Shui Thursday, February 4, 2016 1:00 p.m. to 4:00 p.m. Wine & Cheese Reception from 4:00 p.m. to 5:00 p.m. Location: 2320 Cattlemen Road, Sarasota, South Office Instructor: Steve Kodad Catherine McCaskill, Professionl Development,

941-952-3404

• • • • •

Learn how to... Use this 3,000-year-old “environmental science” known as Feng Shui to sell homes faster!

Generate a good “flow” of energy inside and outside Create good balance and harmony by the use of the Five Elements Why color is so important and how to be sure it attracts buyers The 8 Most Impressionable Moments during a home’s showing The importance of curb appeal and how it attracts buyers

Steve Kodad is a certified Feng Shui practitioner with certification from 3 different schools. He is a member of the exclusive International Feng Shui Guild, and is the creator of The Feng Shui School for Real Estate. This seminar is sponsored by the Global Business Council and is free to GBC members. If you would like to join the Global Business Council, please download the application form from www.myrasm.com/global. The annual cost of membership is $25 and entitles you to many benefits. This is a no-brainer as the cost of this seminar for non-members is $25. Pre-registration is required for this seminar as it promises to be a sell-out. Join today!

Inman Select Now Available to all Members! We are pleased to announce Inman Select as a new, FREE benefit of your membership in Realtor® Association of Sarasota and Manatee. Inman Select connects you to the latest news, powerful insights, objective analysis, special reports and the numbers behind the news. • Inman Daily Headlines • Inman Weekly Headlines • Special Reports • News Article Archives • Inman Video Vault • Inman Select Webinars • Inman Connect Live Stream

Follow three easy steps to set up your account: 1. Go to this link for special RASM access: www.MyRASM.com/Inman 2. Enter your username: (your email) 3. Enter the temporary password: welcome

We are offering Inman Select to all RASM members absolutely FREE with your membership. We hope you enjoy this exciting way to stay current with industry news and trends and deliver continued value and expertise to your clients. Knowledge is power!

FEBRUARY 2016

JOIN FOR FREE TODAY

Need assistance? Contact Inman Select directly at customerservice@inman.com or call 1 (800) 775-4662 and press 1 to reach Customer Service.

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congratulations~

Dedication and hard work pay off! We congratulate our members who have successfully achieved the following designations: GRADUATE, REALTOR® INSTITUTE (GRI) Mark Monismith, Berkshire Hathaway Home Service William Garrison, RE/MAX Tropical Sands

Continuing Education for 2016 GRI 100 Series (Started Januaryy 25 & 26 - GRI 101) Februaryy 1 & 2 GRI 102 at Sarasota February 9 & 10 GRI 103 at Sarasota Core Law February 18 at Lakewood Ranch 14 Hours CE February 29 & March 1 at Sarasota

CERTIFIED RESIDENTIAL SPECIALIST (CRS) Linda Lee Scheller, RE/MAX Alliance Group

Institute of Luxuryy Home Marketing March 22 & 23 at Sarasota

SELLERS REPRESENTATIVE SPECIALIST (SRS) William C. True, True Real Estate, Inc.

GRI 200 Series April p 25-26 GRI 201 at Venice April 27-28 GRI 202 at Venice GRI 200 Series May 23 & 24 GRI 201 at Sarasota May 31 & June 1 GRI 202 at Sarasota

...........................

CIPS Institute (Certified International Property Specialist) June 6-10 at Sarasota GRI 300 Series June 28 & 29 GRI 301 at Sarasota July 5 & 6 GRI 302 at Sarasota GRI 100 Series Julyy 25-26 GRI 101 at Venice Julyy 27-28 GRI 102 at Venice August 3-4 GRI 103 at Englewood 14 Hours CE August 22 & 23 at Lakewood Ranch Florida Realtors Annual Convention RASM Bus to Trade Expo and Super Sales Day August 26 Core Law September 8 at Lakewood Ranch GRI 100 Series October 24 & 25 GRI 101 at Sarasota Oct. 31 & Nov. 1 GRI 102 at Sarasota Nov. 7 & 8 GRI 103 at Sarasota Boot Camp p Series Generally the second Wednesday of each month from 9-11 RAJC Legal g Series Generally the third Wednesday of each month – time varies Global Seminars Generally the first Thursday of each month at 2:00 p.m. New Member Orientation & Code of Ethics Second Mondayy of each month (Alternating RASM South & North Offices)

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Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

education programs Inspections & Repairs: Procedures & Pitfalls

Contracts: The Basics & Pitfalls

Date: February 17, 2016 - Noon to 1:30 p.m. Location: North Office: 10910 Technology Terrace, LWR Instructor: Jeff Grebe, Esq., Williams Parker Cost: SAR/SCBA/MCBA Members $10 | $20 (non-members) Lunch included!

Date: February 17, 2016 -9:00 a.m. to 11:00 a.m. Location: South Location—2320 Cattlemen Road, Sarasota Instructor: Steve Greenberg, Esq., Icard Merrill Cost: $10 RASM Members | $20 non-members

Jeff Grebe, Attorney/Partner at Williams Parker and former law professor, will cover the following topics: • • • • • • • • • • •

Which inspections are right for your transaction Proper procedures for completing inspections Contractual requirements for determining General Repair Items Cosmetic defects and gray areas Repair limits Repair standards Inspections and repairs under “AS IS” contracts WDO (a/k/a termite) inspections Property Maintenance Requirement Walk-through inspections Repair escrows

How important is the sales contract? It’s the ultimate destination - the culmination of the Realtor®’s expertise with the customer’s binding agreement. At the conclusion of the course, you will be better equipped to explain the agreement to a customer/client, as well as identify the proper timing of execution and the use of appropriate disclosures. Participants should expect to be better able to write a solid and binding contract, and come away equipped to minimize the incidence of litigation. About the instructor: Steven Greenberg practices primarily in the area of residential real estate law, currently handling approximately 800 real estate transactions per year. He has been Board Certified in Real Estate law since 1993. As a complement to this practice, Mr. Greenberg is an agent for most title underwriters, including Fidelity National Title Insurance Company, Old Republic National Title Insurance Company, Attorneys’ Title Insurance Fund, and Chicago Title Insurance Company. Register online at www.myrasm.com.

Call Catherine at 941-952‐3404 or email catherine@MyRASM.com for information.

FEBRUARY 2016

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

upcoming mls education MLS and walks through each part of the add/edit tab in Matrix. The class also covers how to edit listings, change the status on listings, add photos and attachments, set up showing time and add open house information.

Registration is required for all MLS classes. To register, visit gopherit.mfrmls.com. Classes are held at both the South and North Offices; some classes are also available online at www.mfrmlsuniversity.com. South Office: 2320 Cattlemen Road North Office: 10910 Technology Terrace If you cannot attend, please cancel to release your spot by calling MFRMLS at 800-686-7451. MLS Basic Feb 2 or Feb 18 - 9 a.m. to Noon - South Feb 24 - 9 a.m. to Noon - North Mandatory session for all new users, to be completed within 60 days of joining. This class gives new MFRMLS subscribers a basic overview of MFR products and services, along with a general tour of how the various functions of Matrix will benefit them in their real estate business. We’ll go over searching, utilizing map tools, reading a broker synopsis, adding and managing contacts, saving searches and setting up auto emails. MLS Compliance 101 Feb 2 or Feb 18 - 1 to 2:30 p.m. - South Feb 24 - 1 to 2:30 p.m. - North This is a mandatory class for all new members to be completed within 60 days of joining. Existing members must complete the class every two year period. As you and your colleagues rely on the MLS for accurate data, mistakes can be costly. MFR’s Compliance 101 class will cover MFRMLS’ rules and regulations along with the compliance procedures for accurate listing data, to ensure all customers have the tools they need to use the MLS to its fullest potential. Topics include types of listings accepted in the MLS, required disclosures, do’s and don’ts of public remarks, advertising guidelines, Internet Data Exchange, Syndication, and more. MLS Adding & Editing Listings Feb 2 or Feb 18 - 3 to 4:30 p.m. - South Feb 24 3:00 p.m. - North This class is mandatory if you will be adding and modifying listings in the MLS (but all agents are welcome to attend!) This class offers a comprehensive overview of the process to properly add a listing to the

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Searching, Reports & Contact Management Feb 25 - 9:00 a.m. to Noon - South This class provides a detailed overview of how to conduct various searches in Matrix, managing auto emails, how the customer portal works, and how agents can track customers’ portal activity. The Mobile Agent Feb 25 - 1 to 3 p.m. - South The real estate profession is becoming increasingly mobile, and it is becoming critical for agents to be able to conduct business from any device. This class reviews the mobile tools that My Florida Regional MLS offers its customers. This class will explore all of the functions of the My MLS App. The class will show how to use the Showing Time mobile app and the DocBox feature of Transaction Desk. Advanced Matrix Feb 10 - 9:00 a.m. to Noon - North This class takes Matrix use to the next level. Several advanced functions of Matrix geared towards improving productivity and efficiency are covered. Topics include customization, exporting data to Excel, and much more. iMapp Feb 10 -1 to 3 p.m. - North This class provides a comprehensive overview of the iMapp tax system. iMapp offers a wide variety of information (including tax information, permits, characteristics, comps reports, market data, and neighborhood demographic information) on any property in the state. You can also run a search for properties based on a variety of fields from tax data, MLS data or foreclosure data. iMapp also generates mailing labels based on your search results. CMA Tools Feb 16 - 9 a.m. to Noon - South This class reviews all of the MFR products and services that can be useful to agents when searching for comparable properties or compiling CMAs. Topics include CMA options in Matrix, Cloud CMA, Realist, IMapp, and Data Coop, along with the Market Conditions Report. This class focuses on CMA products, not CMA techniques. Realist Feb 16 - 1 to 3:00 p.m. - South This class provides a comprehensive overview of the Realist tax system. The first half of the class covers the various reports available for a particular property. The second half of the class is devoted to searching in Realist.

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

education programs Core Law: February 29, 9:00 - noon $30 for RASM Members; $50 Non‐Members

14 Hours CE: February 29 & March 1, 9:00 - 5:00 p.m. $79 for RASM Members; $99 Non‐Members Location: South Office: 2320 Cattlemen Road, Sarasota If you want REAL education, come to this class for your 14 hours of license renewal. Instructor Dick Fryer, Chairman of the Florida Real Estate Commission, will make sure that you take away information that will help you in your real estate career AND keep you out of trouble with FREC. 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. No examination required. To register, go to www.MyRASM.com/register.

.....................................................

Attention Brokers and Agents! Did you know that when you take a live classroom course for your 14 hours of continuing education, that six of those hours can be Core Law? The catch is you have to take the 3-hour sessions in different calendar years!

Take a Course

Stay Informed!

This Core Law course is required of all real estate licensees in Florida save those who are in their initial sales associate or broker license period who are required to do 45 and 60 hours of post-license education respectively. If you take “special” CE courses throughout the year, you will need this course to complete your 14-hour requirement.

Core Law:

February 18, 1:00 p.m. to 4:00 p.m. $25 for RASM Members; $50 Non-Members Location: North Office: 10910 Technology Terrace, LWR Instructor: Peter J. Pike, Attorney, The Pike Law Firm Live in classroom No examination required

• • • • • •

Real Estate License Law Update Brokerage Relationships Escrow Accounts and Disciplinary Action Other State and Federal Laws Affecting Real Estate Trends, Contracts and Closings Fair Housing and Americans with Disabilities Act

Register online at www.MyRASM.com/register. For more information, contact Catherine McCaskill at (941) 952-3404 or email: catherine@MyRASM.com.

FEBRUARY 2016

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

governmental affairs 2016 Talking Points Business Rent Tax Cut the business rent sales tax by 1% We support SB 116 by Sen. Dorothy Hukill (R-Port Orange) and HB 247 by Rep. Heather Fitzenhagen (R-Fort Myers). Florida is the only state in the country that charges a sales tax on business rent, creating a financial burden for any business that leases space — from the local pet shop and hair salon to the multinational Adam Davis chain store. In addition to the 6% tax Governmental Affairs Director charged by the state, municipalities 941-952-3410 and local governments may levy an additional 1.5%. So in some communities, businesses are paying a 7.5% sales tax on their business rent. Two out of every three jobs in Florida are created by a small business. Lowering the business rent tax will provide capital to expand, hire more employees, improve benefits and raise salaries. An eventual full repeal of this tax has the potential to add 185,000 jobs and $21 billion back into the state’s economy. Florida can afford this tax cut. State revenues are on the rise, and they continue to increase every month. The House and Senate have added $250 million of tax cuts into their long-range financial outlook. There is plenty of money to fund ALL state programs and still give businesses a break of 1% on their business rent. If Florida lowers the business rent tax, small business owners, their employees and their families win. And when they win, Florida wins. Estoppel Certificate Fees Cap the fees charged by community associations for estoppel certificates We suppot SB 722 by Rep. Kelli Stargel (R-Lakeland) and HB 203 by Rep. John Wood (R-Winter Haven). Sellers of properties governed by a condominium or homeowners’ association must provide buyers with a payoff letter. Is the seller current on his or her association dues? Are there any association liens against the property? This payoff letter is called an estoppel certificate. Community associations are required to maintain this financial information — as an official record — for every homeowner. In a vast majority of cases, preparing an estoppel certificate amounts to nothing more than opening a computer file and printing the document. Florida law allows associations to charge a “reasonable” fee to prepare an estoppel certificate. Some associations, however, have turned this administrative task into a revenue stream, charging as much as $1,000 for this payoff letter. Sellers often don’t learn about these charges until they

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receive the closing documents. They have no option but to pay the fee, no matter how high. That’s because their community association is the only source for the payoff information. It’s time to restore fairness and predictability to real estate transactions by capping estoppel certificate fees. SB 722/HB 203 are almost identical to legislation that nearly passed last session. Opponents want you to believe that a cap on estoppel certificate fees will automatically result in higher fees that will impact all homeowners in the association. They call it a “home tax,” and that’s simply not true. The bills don’t raise fees. Rather, they prevent community associations from subsidizing their management costs on the backs of homeowners who are moving. In effect, community associations are imposing their own Exit Tax. Affordable Housing Increase funding of the Sadowski Affordable Housing Programs When housing values go up, it’s a wonderful thing for our industry. But, many hard working, low-income families can be squeezed out of the market. The Sadowski Affordable Housing Trust Funds were created in the early 1990s to help in good times and bad. These funds help families achieve the dream of homeownership with downpayment assistance. They also provide housing rehabilitation and rental assistance to Florida’s homeless, veterans, seniors and people with disabilities. Last year, the Legislature allocated $175 million toward the housing trust funds, the highest funding level in eight years. We applaud lawmakers for supporting housing programs. As the economy strengthens and market values increase, the need for housing assistance will increase, too. In 2016, there will be more than $297 million available for affordable housing. The Florida Legislature has the opportunity to assist thousands of Floridians who have no place to call home. It’s time to use these trust funds for their intended purpose. The need is great. The money is available. This should be the easiest appropriation you will ever make. Statewide Water Policy Restore Florida’s water resources while protecting property rights We support the efforts of Sen. Charlie Dean (R-Inverness) and Rep. Matt Caldwell (R-Lehigh Acres), sponsors of SB 552 and HB 7005, to enact a comprehensive statewide policy that addresses keys aspects of water management, water quality and water supply. Realtors® are passionate about water issues. No matter where you live in Florida, there’s a body of water that is a vital part of your community. Water is, and should always be, Florida’s lifeblood. SB 552/HB 7005 serves as a blueprint for avoiding a water crisis like the one California is experiencing, which would cripple our economy. (Continued on page 31)

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

Member Benefits Spotlight

A GARAGE YOUR CAR IS HAPPY TO CALL HOME.

Canada Med Services Canada Med Services is pleased to offer a $25.00 Gift Certificate towards orders up to $100 and $50.00 Gift Certificate towards orders $150.00 or more. This Gift Certificate is valid for any member and can be passed on to member’s family, friends or clients. To activate gift certificate mention Realtor® Association of Sarasota and Manatee Spotlight Offer. Canada Med Services is locally owned and has been serving Sarasota and Manatee County since 2012. They look forward to helping you save up to 75% on your prescription medication. The Gift Certificate is valid for a 1 time use may not be combined with other offers. For more information, questions or to place an order, call: 941-927-3600 or stop by their office at: 4119 Bee Ridge Road, Sarasota.

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Sarasota/Manatee Realtor® Magazine

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Neighborhood Spotlight

Longboat Key

Sarasota and world-famous St. Armand’s Circle-making Longboat key the perfect base from which to experience the best of the area.

By Georgina Clamage, Michael Saunders & Company Photo Credit: Detlev von Kessel Composed of approximately 12 miles of crystal-quartz beaches that line the shimmering Gulf of Mexico, Longboat Key is a pristine barrier island that is located in both Sarasota and Manatee counties. Tropically elegant and uniquely charming, it is a popular destination for those who seek a quieter, more relaxed pace of life. A magnificent stretch of shoreline, on its south end longboat Key showcases a breathtaking collection of glamorous estates, single family homes and soaring condominiums. Picturesque canal-front homes and impressive mansions dot the unspoiled, casual and friendly north end of the island, which is home to Longboat Key’s original village. You will also find discreet shopping plazas-filled with unique shops and fine dining –and the emerald-shaded fairways that comprise the two championship golf courses of the Longboat Key Club. Just minutes away are the cultural attractions of

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At the beginning of 2016, there were 173 condos and villas for sale on Longboat Key ranging in price from $219,900 for a one-bedroom condo to $6,750,000 for a luxury gulf front condo. The average list price for these condos is $940,618 and the median price is $669,000. There were 110 single family homes for sale on the Key at the beginning of 2016 ranging in price from $320,000 to $19,900,000 for an estate property directly on the gulf. The average price of these homes is $2,090,163 and the median is $1,472,520. 116 single family homes sold in 2015 at a selling price ranging from $335,000 to $5,625,000. The average price of these homes was $1,262,388 and the median price was $896,250. 368 condos sold in 2015, at a selling price ranging from $150,000 to $3,450,000 and an average price of $616,145 and median price of $425,000. Whether you are looking for a gulf-front estate or a rental condo, the choices are many on Longboat Key. This beautiful Key celebrated its 60th Birthday with a party at Bayfront Park on November 14, 2015. For more information about this and other events on Longboat Key go to the Chamber website at http://www. longboatkeychamber.com/.

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

membership news The Association is pleased to welcome new members! New Brokers

Garland, Brenda, Select Properties LLC Mapp, Frederick, Island Dreams Realty LLC Rhima, Liza, Liza Rhima Williams, Njema, Affluence Real Estate LLC Wooster, Albert, Albert Wooster & Company

Dan Andrews, Membership Director, 941-952-3408

New Members

Ashton, Lauren: Ryntal Bernal, Lina: SRQ International Realty LLC Buck, Kyle: Keller Williams On The Water Burg, William: PalmerHouse Properties Chennault, Deborah: Coldwell Banker Residential R. Coleman, Brittany: Exit King Realty Collier, Thomas: Leslie Wells Realty, Inc. Conaboy, Andrew: Michael Saunders & Company DeCou, Abigail: Keller Williams Rlty Manatee DeRitter, Karen: Coldwell Banker Res R E D’Espinosa, Liliana: Exit King Realty Dowling, Darren: Coldwell Banker Res R E Dumbaugh, Elizabeth: Michael Saunders & Company Eggen, Keilli: RE/MAX Tropical Sands Elkins, Susan: Michael Saunders & Company Fergerson, Chantelle: Berkshire Hathaway HomeService Festa, James: Exit Dream Team Realty Fosteris, Mary: Home Rentals of Manatee French, Avian: Keller Williams On The Water Frizzell, Lobin: Keller Williams On The Water Froeschle, Julie: Relax Realty Group Inc Giuffre, Tracie: MBN Realty Professionals Greco, Garrett: Michael Saunders & Company Hart, Kevin: Coastline West Rlty of Florida Hart, Taylor: Keller Williams Realty Select Harvey, Angela: Keller Williams On The Water Hofmann, Anthony: Keller Williams On The Water Holley, Sharon: Horizon Realty International Jolly, Rhonda: Wagner Realty Kemper, Jeffrey: Azure Tide Realty Kolar, George: Michael Saunders & Company Kressel, Veronica: Exit King Realty Kummer, Karl: Allison James Estates & Homes LaMaida, Vincent: Premier Sotheby’s Intl. Realty Landsberg, Patricia: Michael Saunders & Company Mason, Colbey: Ryntal Miller, Deborah: Swilley & Associates Realty Mortensen, Bo: Keller Williams Realty Select Mountjoy, Richard: Keller Williams Realty Select Mullican, John: Coldwell Banker Residential R. Myers, Lindsey: Integra Realty Group Nash, Linda: Suncoast Realty Group LLC Nelson, Ryan: Keller Williams On The Water Olshannikov, Viktoriya: Bright Realty 28

FEBRUARY 2016

Paschke, Katherine: Leslie Wells Realty, Inc. Paternostro, Jaime: RE/MAX Alliance Group Patton, Janice: Dolphin Bay Real Estate LLC Paulson, Linda: Wagner Realty Peterich, Corissa: Keller Williams On The Water Peters, Madeline: Medway Realty Pospisil, Robert: Keller Williams Realty Select Poysti, Jason: Coldwell Banker Pride-Berry, Tara: Keller Williams On The Water Pruett, Brian: Bright Realty Ramos Jr, Raul: Keller Williams On The Water Rivera, Christopher: Michael Saunders & Company Robinson, Thomas: Exit King Realty Rogers, Linda: New Chapter Real Estate Rotondo, Matthew: Century 21 All Aces Realty Rubinstein, Sandra: Berkshire Hathaway HomeService Russell, Yolanda: Keller Williams Realty Select Scallen, Mark: Terry Realty LLC Schmitt, Robert: RE/MAX Alliance Group Self Williams, Patricia: Michael Saunders & Company Selitto, Richard: Charles Rutenberg Realty Inc. Shanahan, Katina: Premier Sotheby’s Int’l Realty Shanahan, Kenneth: Premier Sotheby’s Int’l Realty Sipe, Adriana: Keller Williams On The Water Slaughterbeck, Steven: Azure Tide Realty Smith, Marcella: RE/MAX Fine Properties Spangler, Marvin: Exit King Realty Thompson, Kelley: Keller Williams Realty Select Tibbetts, Banning: Keller Williams Rlty Manatee Tonini, Pamela: MBN Realty Professionals Tseng, Barry: Wagner Realty Vandergrift, Robert: Keller Williams Realty Select Viara, Sean: Keller Williams On The Water Vicory, Robert: Coldwell Banker Wallace, Joshua: Keller Williams On The Water Walters, Christine: Keller Williams Realty Select Walzer, Matthew: Coldwell Banker Residential RE Whitaker, Karen: Premier Sotheby’s Intl. Realty White, Eric: Coldwell Banker Res R E White, Jason: White Sands Realty Group FL Wikfors, Holly: Exit King Realty Wilkerson, George: Keller Williams Realty Select Wood, Donna: Wagner Realty Wright, Jonah: Keller Williams On The Water

Now With ...

Barr, David: Berkshire Hathaway HomeService Benjamin, Gary: Homesmart Premier Realty Blackman, Brittany: Ocean Real Estate LLC Boron, Ray: Key Solutions Real Estate Grp Boyle, Michael: Bright Realty Cashi, Tamara: Coldwell Banker Residential R. Cashi-Haught, Lora: Coldwell Banker Residential R. Caudill, Mary: Realty Executives Solutions Compton, C Corey: Bright Realty Crandall, Rosemary: Bright Realty Del Viscio, Stephen: Berkshire Hathaway HomeService

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

Del Viscio, Judith: Berkshire Hathaway HomeService DeLong, Meghan: Island Dreams Realty LLC Dodson, Jenifer: Sarabay Real Estate Inc Eberhardt, Marc: Wagner Realty Feicht, William: Premier Sotheby’s Int’l Realty Finnegan, Colleen: RE/MAX Alliance Group Folkman, Thomas: Bright Realty Ganim, Richard: Keller Williams On The Water Gesell-Hirschman, Jamey: Sarasota Land and Homes LLC Giacomazzi, Maria: Sarasota Signature Real Estate Giannone, Ibett: Capital Real Estate Enterprise Griffith, Eric: Coldwell Banker Res R E

Mettling, John: Sarabay Real Estate Inc Montgomery, Barbara: RE/MAX Alliance Group Moran, Michael: The Real Estate Store Mullican, John: Coldwell Banker Residential R. Neaverth, Dawn: Keller Williams Rlty Manatee Patti, Derek: Amy Robinson Real Estate LLC Piper, LLC, David: Lahaina Realty Plummer-Nelson, Pamela: Coldwell Banker Residential RE Popovic, Charles: All County Prop Mgmt Pros Praetor, Jochen: Mapp Realty & Investment Co Radabaugh Jr, Jerry: Allison James Estates & Homes Rapisardi, Nicholas: Keller Williams Realty Select

New RASM Members photographed at the January New Members Orientation class. Hackett, Walter: Premier Sotheby’s Intl. Realty Haddow, Scott: RE/MAX Alliance Group Hill, Theresa: Bright Realty Hofmann, Angela: Club House Real Estate Inc Johnson, Steven: Exit King Realty Johnston, Pamela: Key Solutions Real Estate Grp Kaleskas, Angela: RE/MAX Fine Properties Kaplan, Kristina: Ryntal Katanic, Susan: Investments In Sarasota Kowatch, Gregory: Premier Plus Realty LeBlanc, Joan: Allison James Estates & Homes Ley, Harold: Michael Saunders & Company Li, Qi: Keller Williams Rlty Manatee Linsberg, Alan: Sarasota Realty Associates Inc Louloudes, Robert: Starz Real Estate, LLC Macht, Alex: Medway Realty Malickson, Frank: Exit King Realty March, Wendy: RE/MAX Platinum Realty www.MyRASM.com

Roffe, Kenneth: Exit King Realty Rogers, Linda: New Chapter Real Estate Selitto, Richard: Charles Rutenberg Realty Inc Shields, Alexandra: Horizon Realty International Steele, Natalie: Keller Williams On The Water Stefan, George: Exit King Realty Stultz, Victoria: Premier Sotheby’s Intl. Realty Taliaferro, Cindy: Sarasota Bay Real Estate P.A. Taliaferro, Moriah: Sarasota Bay Real Estate P.A. Tucker, Annmarie: Moynihan Realty Group LLC VanArtsdalen, William: Premier Sotheby’s Intl. Realty Velte, Jerrid: Bright Realty Vileno, Pauline: Morris Williams Realty Wallace, Michael: RE/MAX Alliance Group Wilkerson, George: Keller Williams Realty Select

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

wcr: Sarasota & Manatee Chapters Better Together By Alfredda J. Smith-Odato, Broker, Suncoast Global Real Estate, LLC “Better Together” is our slogan for 2016. It is our spirit of cooperation and teamwork to help Realtors® and affiliates enhance their businesses. Alfredda Smith-Odato 2016 also promises to be a very 2016 WCR President exciting year in Real Estate and Sarasota Chapter the Women’s Council of Realtors®, Sarasota is right on track to be just as exciting! It is often said that we stand on the shoulders of those who came before us. As the Sarasota Chapter President for 2016, I will be building on the framework that was started by Bea Novak, Sarasota’s first Chapter President in 1957, to Kristin Triolo, our immediate Past President and the many other dedicated women that have held this honored position. Our committees have been working very hard to establish our direction for the future. Our network of

professional women and men will be attending our monthly Business Resource Meetings and enjoying some of the best Educational Programs available. We also plan to have some fun too. There will be 4 quarterly socials/membership drives to meet and greet our newest members and to welcome them into our organization. Our new members will have the opportunity to be Mentored and become more active in our chapter and in their community. Our Ways & Means committee is busy working on our ever popular Fashion Show, held every September and this year promises to be bigger and better than before! Systems are very important for keeping things running smoothly and this year we have formed our newest committee. The Communications and Technology committee has been put to the task with lots of work to do and I’m happy to report that they have already stepped up to the plate and performed exceptionally! Many thanks for their dedication and hard work. Our chapter is a strong organization with every member offering their specialties and unique talents to help support and grow the organization to benefit their fellow members. As a team we can accomplish anything and we are…. “BETTER TOGETHER” Building ENERGY, PASSION & EXCITEMENT.”

.............................. Greetings from Women’s Council of Realtors®- Manatee Chapter! By Robin Wentz, Keller Williams Realty of Manatee, Global Property Specialist At the time of this writing, we’re still planning for an exciting year ahead. It was our leadership’s goal to bring updates on technology to our Members in the first quarter 2016. Accordingly, we welcome David Gumpper, Director of Information Systems at Michael Saunders & Company to be our speaker at the February Business Resource Meeting on Thursday, February 11th 11 am-1 pm at Pier 22 Ballroom in downtown Bradenton. We are excited to hear what he will share with us about “Listing Presentation on the Go!” You’ll be able to register on our Facebook Page. Our first quarter networking event will be Thursday, February 25th @ 6 pm where members will gather together for appetizers, cocktails & fun with Members-to-be who would like to get to know us better and to consider becoming a part of our Chapter. Location will be at the home of DJ Throgmorton (east Manatee). Please contact DJ @ dj.sarabay@gmail.com, check out our Facebook page or any board member for more information.

FEBRUARY 2016

Another 2016 chapter goal is to serve the community in which we live & work. On Saturday, March 12, 2016, we plan to do so by having a walk for a most worthy cause on the downtown Bradenton Riverwalk. Feeding Empty Little Tummies (FELT) http:// feltinc.org/ is the cause and we sincerely hope you’ll consider Robin Wentz walking with us, sponsoring 2016 WCR President and/or making donation to help Manatee Chapter feed homeless children. Stay tuned for further information and check out our Facebook page: “Women’s Council Of Realtors® Manatee Chapter.”

Sarasota/Manatee Realtor® Magazine

www.MyRASM.com

IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY

2016 Dues Final Deadline Tuesday, Feb. 16, 5:01 p.m. Due Dates, Termination of Services, and Refund Policy Due: December 15, 2015; Past Due: January 15th, 2016 5:01 p.m. Members with open balances as of 5:01 p.m. on February 16, 2016 will be terminated and lose all Realtor® services. Reinstatement before 5 p.m. on February 29, 2016 will require payment in full of all amounts due at date of termination, as well as a $75 reinstatement fee. Reinstatement after February 29, 2016 will require licensee to apply as a new member and pay the $75 reinstatement application fee plus amounts owed at time of termination plus the FAR interest assessment. Payment Methods: PLEASE NOTE: ELECTRONIC PAYMENTS ONLY Two payment options: 1. Deduct directly from your checking account via: A. Debit card (MC,V) – the easiest way to have the payment deducted from your checking account. B. Electronic check – use same information as on your check, just follow the prompts. 2. Credit card (MasterCard, Visa, or American Express). Instructions for all payments (1) Go to www.MyRASM.com (2) Click on MY ACCOUNT at top of page and log in (3) Under My Services, click on “Pay/View Bill Online” (4) Online charges will appear on your bank and credit card statements as “Realtor® Association/MLS” (5) To print a copy of invoice, click on the invoice number

OR Come to the RASM office and use our computer in the lobby which is programmed to open directly into the log‐in screen and has easy instructions located at the workstation for your use. Once payment is made online, it is updated to your account within 72 hours. We encourage you to go online to check the status of your account.

..................................................... Governmental Affairs 2016 Talking Points (continued from page 25) Florida Realtors® supports several goals of this good legislation: • Creation of the Florida Springs and Aquifer Protection Act. We also applaud the Legislature’s objective to put programs in place that will protect and restore water flow and water quality in the aquifer. These programs will also improve conditions at “outstanding Florida Springs.” • Florida Realtors® agrees that the Department of Environmental Protection (DEP), in cooperation with

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water management districts and other regional water supply authorities, should operate by a set of statewide standards when it comes to collecting and analyzing water supplies and water quality. Operating by one set of standards will ensure reliable and valid data and testing results. • Florida Realtors® supports establishing water flow levels for the state’s natural springs, and we concur that the DEP should oversee pollution control measures for Lake Okeechobee, the Caloosahatchee Estuary and the St. Lucie River and Estuary. The need for clean and abundant water will only increase. Florida will need an additional 2 billion gallons of water per day to meet the needs of an ever-growing population, according to the DEP.

Sarasota/Manatee Realtor® Magazine

FEBRUARY 2016

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

Education & events calendar

FEbruary 2016 Monday

Tuesday

)HE

8 a.m. GRI 102 (SOUTH)

8 a.m. GRI 102 (SOUTH) 9 a.m. MLS Basic (SOUTH) 1 p.m. MLS Compliance 101 (SOUTH) 3 p.m. MLS Adding & Editing Listings (SOUTH)

8 a.m. GRI 103 (SOUTH)

9 a.m. New Member Orientation (NORTH) 1 P.M. Code of Ethics (NORTH)

Wednesday

7:30 a.m. Toastmasters (SOUTH) 8 a.m. MLS Express Zone 1 W (1st Baptist Church of Bradenton)

8 a.m. GRI 103 (SOUTH) 9 a.m. Advanced Matrix (NORTH) 1 p.m. iMapp (NORTH)

8 a.m. MLS Express Zone 1 E (NORTH) 1 p.m. GBC Seminar: Feng Shui (SOUTH)

8 a.m. MLS Express Zone 2 (SOUTH)

Friday 9 a.m. CID Commercial Marketplace (SOUTH)

9 a.m. CID Commercial Marketplace (SOUTH)

5 p.m. Business Partners After Hours Networking (Geckoâ&#x20AC;&#x2122;s on SR 64)

5 p.m. Business Partners After Hours Networking (Geckoâ&#x20AC;&#x2122;s on Hillview)

0DU 9 a.m. 14 Hours CE (contâ&#x20AC;&#x2122;d) (SOUTH)

8 a.m. CID General Membership Meeting 9 a.m. CMA Tools (SOUTH) 1 p.m. Realist (SOUTH)

7:30 a.m. Toastmasters (SOUTH) 9 a.m. Boot Camp contracts (SOUTH) 12 p.m. RAJC Seminar: Inspections & Repairs (NORTH)

9 a.m. MLS Basic (NORTH) 11:30 a.m. Smart Lunch (SOUTH) 1 p.m. MLS Compliance 101 (NORTH) 3 p.m. MLS Adding & Editing Listings (NORTH) 7:30 a.m. Toastmasters (SOUTH)

9 a.m. MLS Basic (SOUTH) 8 a.m. MLS Express Zone 1 1 p.m. MLS Compliance 101 W (1st Baptist Church of Bradenton) (SOUTH) 3 p.m. MLS Adding & Editing Listings (SOUTH)

8 a.m. MLS Express Zone 3 (SOUTH) 9 a.m. MLS Basic (SOUTH) 1 p.m. Core Law (NORTH) 1 p.m. MLS Compliance 101 (SOUTH) 3 p.m. MLS Adding & Editing Listings (SOUTH)

8 a.m. MLS Express Zone 4 (SOUTH) 9 a.m. Searching, Reports & Contact Mngmnt. (SOUTH) 1 p.m. The Mobile Agent (SOUTH)

8 a.m. MLS Express Zone 1 E (NORTH)

9 a.m. CID Commercial Marketplace (NORTH)

9 a.m. CID Commercial Marketplace (SOUTH)

South Office - 2320 Cattlemen Road, Sarasota, FL 34232 North Office - 10910 Technology Terrace, Lakewood Ranch, FL 34211 My Florida Regional MLS Training To view and register for upcoming webinars, go to the GoPher It Portal, and click on the webinar classes link. You can also view and register for MFR webinars directly at webinars.mfrmls.com.

DATES SUBJECT TO CHANGE

RealtorÂŽAssociation of Sarasota and Manatee, Inc. 2320 Cattlemen Road Sarasota, FL 34232

5$60 &/26(' )25 35(6,'(17Âś6 '$<

9 a.m. Core Law/14 Hours CE (SOUTH)

Thursday

Expanded Statistical Report Sarasota and Manatee Counties December 2015 For more detailed reports, visit http://www.MyRASM.com/statistics/

Sarasota/Manatee Realtor速 Magazine

Monthly Distressed Market - December 2015 Single Family Homes Sarasota County

Closed Sales

December 2015

December 2014

Percent Change Year-over-Year

571

484

18.0%

$255,000

$232,250

9.8%

145

-49.0%

$155,700

$127,000

22.6%

-46.7%

$124,225

$121,500

2.2%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2011

2012

Traditional

2013

Foreclosure/REO

2014

2015

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND $300K

Median Sale Price

$250K

$200K

$150K

$100K

$50K

$0K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

2012

2013

2014

2015

Produced by Florida REALTORS速 with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.

Monthly Distressed Market - December 2015 Single Family Homes Manatee County

Closed Sales

December 2015

December 2014

Percent Change Year-over-Year

473

432

9.5%

$275,000

$260,000

5.8%

100

-49.0%

$148,000

$126,755

16.8%

-33.3%

$186,000

$193,410

-3.8%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2011

2012

Traditional

2013

Foreclosure/REO

2014

2015

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND $300K

Median Sale Price

$250K

$200K

$150K

$100K

$50K

$0K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

2012

2013

2014

2015

Monthly Distressed Market - December 2015 Townhouses and Condos Sarasota County

Closed Sales

December 2015

December 2014

Percent Change Year-over-Year

247

242

2.1%

$220,305

$185,000

19.1%

-38.5%

$119,750

$125,550

-4.6%

150.0%

$145,500

$175,551

-17.1%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2011

2012

Traditional

2013

Foreclosure/REO

2014

2015

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND $450K $400K

Median Sale Price

$350K $300K $250K $200K $150K $100K $50K $0K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

2012

2013

2014

2015

Monthly Distressed Market - December 2015 Townhouses and Condos Manatee County

Closed Sales

December 2015

December 2014

Percent Change Year-over-Year

185

177

4.5%

$199,000

$178,000

11.8%

-46.9%

$91,150

$105,000

-13.2%

-50.0%

$128,250

$95,436

34.4%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2011

2012

Traditional

2013

Foreclosure/REO

2014

2015

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND $300K

Median Sale Price

$250K

$200K

$150K

$100K

$50K

$0K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2011

2012

2013

2014

2015