Sarasota Realtor Magazine - December 2009

DECEMBER 2009

Stars of SAR

Page 6

Important 2010 Dues Information - See Pages 8-9

Contents

Sarasota Realtor® Volume 6, Issue 12 DECEMBER 2009

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

2009 Officers

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Stars of SAR Shine Bright

Every year, SAR members submit nominees for several awards, acknowledging service above and beyond the call of duty. Here are our 2009 winners!

Important Dues Information

SAR is implementing important billing changes to positively impact our members.

10 Looking Forward to 2010

For just a brief moment in time we collectively breathe a sigh of relief, take stock of the past year, and get ready for 2010.

12 New Year Brings Deadlines Volume 6 • Issue 12 • DECEMBER 2009

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The Sarasota County Property Appraiser reminds everyone that Jan. 1, 2010 will bring an assortment of important deadlines.

18 Distressed Property Sales

Sarasota has been at the center of the real estate market transition as short sales and foreclosures peak. But how are the current numbers trending, and what could 2010 bring?

President-Elect Erick Shumway RE/MAX Alliance Group Secretary David Clapp RE/MAX Alliance Group Treasurer Michael Bruno Prudential Palms Realty Immediate Past President Helen Sosso Prudential Palms Realty Chief Executive Officer Kathy Roberts Mission Statement The mission of the Sarasota Association of Realtors® is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics.

We are committed to be the leading advocate of real estate in the communities we serve by protecting private property rights and expanding relationships with individuals and organizations both locally and worldwide.

Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc. Editorial Staff Director of Communications Ray Porter Director of Member Services Dan Andrews

In every issue

Director of MLS Information Systems Jesse Sunday

10- Governmental Affairs 12- Property Appraiser 14- Ethics in Action 15- Sales and Listing Statistics 20- Education Programs 23- Broker Corner 27- Commercial Investment Division 28- WCR News 30- Membership News 31- International Council 32- Calendar of Education/Events

Director of Professional Development Catherine McCaskill Governmental Affairs Director Marc Mansfield Production Coastal Printing, Inc. Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 or ray@sarasotarealtors.com.

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.

On the Cover: SAR Award Winners for 2009 (from left) are: Felix Power, Realtor® of the Year; Paula Cashi, Meritorious Service; Fred Sieger, Humanitarian Award; and Patricia Tan and Carla Rayman, President’s Award. See Page 6.

DECEMBER 2009

President William Geller RE/MAX Platinum Realty

Sarasota Realtor® Magazine

Editorial ideas and manuscripts are welcomed. 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.

2009 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 Installation & Holiday Luncheon set Dec. 16th

This year’s SAR Installation & Holiday Luncheon will be held on Wednesday, Dec. 16th at 11:30 a.m. at Michael’s On East, 1212 East Avenue South (Midtown Plaza pictured above). The cost for the luncheon was held to $30, as the SAR leadership remains sensitive to the current financial status of many of our members.

The new SAR Officers and Board of Directors for 2010 and the CID Officers and Directors for 2010 will be installed at the event.

The event program will consist of a review of the SAR year, along with the presentation of awards, including the Humanitarian Award, Meritorious Service Award, President’s Award and Realtor® of the Year Award (see Page 6).

Sponsors include: Gold Sponsors MyFlorida Regional MLS D.R. Horton Homes

Supra (GE Security) Silver Sponsors LWR Communities, LLC Brown & Brown of Florida, Inc. DK Consulting (photography services) Bronze Sponsors Oswald Trippe & Co., Inc. Bella Luna Services, Inc. Savannah Preserve at University Place Iltis Lending Group Bank of America Home Loans Regions Mortgage Sentinel Mortgage Co. North American Title Please register for the event online prior to Dec. 9th.

Cathleen Acosta is SAR Affiliate of the Month for December Cathleen Acosta, Marketing Director for Stewart Title, is the December SAR Affiliate of the Month.

Cathleen has been with the Stewart office (formally Executive Title) for 3 years but has had over 10 years experience in the title industry.

“Our office provides full title, closing and escrow services and has been serving the Sarasota county real estate

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community for over 25 years as well as servicing all Florida counties,” said Cathleen.

“Building relationships, retaining clients and providing excellent service is our number one focus.

Our close relationship with our underwriter Stewart Title Guaranty allows our office to provide additional products and services our competitors do not have access to such as Sureclose and our newest service Stewart Concierge at no additional Cathleen Acosta costs to the consumer.”

Cathleen is a member of the Sarasota chapter Women’s Council of Realtors® and the Sarasota Association of Realtors®. She can be reached at the office at 941-921-3948 or her cell at 941-350-5736.

Sarasota Realtor® Magazine

DECEMBER 2009

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Cover Story

Stars of SAR

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2009 award winners represent best of the best Editor’s note: Each year, SAR asks our members to nominate their peers for several awards Realtor of the Year; Humanitarian of the Year; and Meritorious Service Award. In addition, the current SAR President picks a worthy recipient for the President’s Award. These highly deserving individuals will be honored at the SAR Holiday Installation & Luncheon on Dec. 16th.

There is an old saying by that fellow named “Anonymous” that goes, “Lead, follow, or get out of the way!” Leaders in any organization have a knack for ignoring the phrase after hearing the first word – that springs them into action, putting them at the leading edge of the organization’s efforts among the membership and in the community.

Every year, the Sarasota Association of Realtors® recognizes a select few of these valuable leaders and singles them out as strong examples of how to make a difference in the lives of others. These individuals were nominated by their peers for their unique and valuable contributions to SAR and the Sarasota community throughout 2009.

2009 SAR Realtor® of the Year: Felix Power, Prudential Palms Realty

This year’s choice for Realtor® of the Year is Felix Power. The 2006 SAR President, Felix has been very active in a number of SAR committees throughout the years. In addition, he has also tirelessly served on FAR and NAR committees and boards. He somehow still finds the time to work with local service, religious and cultural groups, and is highly involved in local governmental affairs.

During the past three years in particular, Felix has been omnipresent in several local organizations, including COBA (Council of Business Associations), the Sarasota Intercity Committee, the Post Disaster Redevelopment Plan Committee, Siesta Key Chamber of Commerce, and Church of the Trinity, PCC (Deacon and Coordinator of Eucharist Servers). He has maintained a high level of participation with SAR, serving on the Professional Development, Public Policy and Nominating committees, in addition to the International Council, MLS committee and Executive committee. With FAR, he has served on numerous committees, including International Operations, the Outreach Subcommittee, Realtors® Political Involvement Committee and the Legislative and Political Forum.

Felix has been an incredible resource to SAR through

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DECEMBER 2009

his extensive involvement in FAR and NAR initiatives, and he was an easy choice as the 2009 Realtor® of the Year!

2009 SAR Meritorious Service Award: Paula Cashi, Prudential Palms Realty

Paula Cashi was named Meritorious Service Award winner for 2009. Paula has been a perennial leader and committee contributor with SAR. She was elected to serve on the 2009 SAR Board of Directors after many years of committee work, and will also serve on the 2010 board. She has chaired the Member Benefits Committee and has been integrally responsible for bringing several new, valuable benefits to SAR members.

Paula’s steadfast dedication to the SAR membership is evident with a glance at the front page of the SAR web site. Down the left hand column can be found icons and links to numerous benefit programs that can directly save our members hundreds of dollars, and provide incredible services, products and programs to assist SAR members in their business and personal lives.

Paula has been instrumental in achieving most of these partnerships and programs.

In addition to these valuable benefits, Paula continues to assume leadership roles in SAR, at the state level with FAR, and the NAR. In addition to the Member Benefits Committee, she has served on the Public Policy Committee and Professional Standards Committee.

She served on the FAR board in 2009 and was an FAR director in 2008 and 2007. She routinely attends education classes and forums and encourages others to do so, and contributes weekly at the MLS Power Marketing sessions.

2009 SAR Humanitarian of the Year: Fred Sieger, RE/MAX Premier Services

One of the truly universally liked members of SAR is Fred Sieger, this year’s winner of the Humanitarian Award. His ever-present smile, embedded in a friendly, Santa Claus-like white beard, makes Fred an instantly recognizable figure at many SAR functions and events.

Sarasota Realtor® Magazine

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Felix Power

Paula Cashi

But his involvement and achievements at SAR pale in comparison to what Fred does in the greater Sarasota community.

Fred is very involved in the Florida Sheriffs Youth Ranch, Bill Glass Champions For Life prison ministry, the Mayor’s Feed the Hungry program, Kids By the Sea (program for children with cancer), the Florida Center (early childhood services and therapies), the Pediatric Brain Tumor Foundation, Bikers Raising Awareness (breast cancer), the Susan G. Komen Race for the Cure, Child Protection Center of Sarasota, and Mission Ventures Int. (purchasing motorcycles for ministers in third-world countries).

Fred is also highly involved in the Church of the Redeemer as an usher, Eucharistic minister, and stewardship minister. He spends his spare time (what little he has) escorting the traveling Vietnam Wall around the state. An avid motorcyclist, Fred can often be seen on his Harley on local roadways, usually heading off to a charitable event or organization meeting.

Fred Sieger

2009 SAR President’s Award: Patricia Tan and Carla Rayman, Prudential Palms Realty

Patricia Tan and Carla Rayman teamed up a couple of years ago at Prudential Palms Realty to drive the brokerage’s International Division to new heights. During the same time period, they have led the SAR International Council, planning numerous trips abroad to promote the Sarasota real estate industry and local community, schedule SAR courses, forums and programs on international real estate, and plan and promote three successful SAR International Real Estate Congress events.

Whew! Where did they find time to do any real estate business?

As this year’s recipients of the SAR President’s Award, Patricia and Carla are being recognized for their unwavering devotion to the concept of broadening and expanding the local real estate industry into the entire world. They understand the phrase, “Think global, act local,” and live it in their professional and even private lives. The team of

Patricia Tan and Carla Rayman Tan and Rayman has made numerous trips to the United Kingdom, Spain and France in the past few years, and Carla also journeys regularly to Central America, where she is working with counterparts in Panama and Costa Rica on real estate ventures.

For Patricia and Carla, their interest in international real estate doesn’t stop with their own business. They want to educate and enlighten the SAR membership on the potentially lucrative business contacts available to them overseas and south in the Americas. This has been their calling for many years now, and has brought the world’s attention on the relatively small community of Sarasota on Florida’s Gulf Coast.

Please join the Sarasota Association of Realtors® on Wednesday, Dec. 16th in honoring these five outstanding members of our association, welcoming and installing the new officers and board, celebrating a year of achievement under the leadership of 2009 SAR President Bill Geller, and charting the course for a prosperous and successful 2010!

IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY

2010 Dues Invoices are now available and due For the Who, What, When, Where, and Why’s regarding mandatory electronic online dues payments, please visit the SAR website at www.sarasotarealtors.com and click on the MEMBERS tab near the top of the page, FAQ’s, Dues and Accounts.

Changes Affecting 2010 Dues Only Realizing that many of our members are struggling in this economy, SAR is implementing billing changes on a one time only basis which we hope will positively impact our members. Instead of producing one invoice (which in the past has included all charges and had to be paid in its entirety), we will produce 3 separate invoices which can be paid all together or separately throughout the billing cycle. The benefits to our members are threefold:

1. Members will be allowed to pay all invoices in full or may choose to pay individual invoices during the period from November to February 15, as long as payment in full on all invoices is received by 5 p.m. on February 15.

Payments may be made individually for the following amounts: NAR ($115), FAR ($126), SAR ($230 + $99 optional RPAC – see RPAC info, P. 10 ‐ + $50 CID if applicable).

2. Members will be given an additional 30 days to pay.

Service will remain intact until 5 p.m. on February 15 instead of January 15.

3. A late fee will not be assessed on payments received by February 15.

Reinstatement or Application fees will be assessed for payments after 5 p.m. on February 15.

 Due Dates, Termination of Services, and Refund Policy  Due: December 15, 2009; Past Due: February 15, 2010, 5:01 p.m.  Members with open balances a/o 5:01 p.m. on February 15, 2010 will be terminated and lose all Realtor® services, including Supra.  Reinstatement before 5 p.m. on February 28, 2010 will require payment in full of all amounts due at date of termination, as well as a $75 reinstatement fee.  Reinstatement after February 28, 2010 will require licensee to apply as a new member and pay the $150 application fee plus amounts owed at time of termination plus the FAR interest assessment.  For a member whose license is placed inactive prior to Jan. 1st and who has paid some or all of the invoices, the inactive member will receive a full refund of the payments made.  For a member whose license is placed inactive on or after Jan. 1st and who has paid some or all of the invoices, all payments received are non‐refundable.

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DECEMBER 2009

Sarasota Realtor® Magazine

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 Payment Methods: ELECTRONIC PAYMENTS ONLY!!!  Two payment options: 1. Deduct directly from your checking account via: A. Debit card (MC,V) – the easiest way to have the payment deducted from your checking account.

B. Electronic check – use same information as on your check.

2. Credit card (MasterCard, Visa, or American Express).  Instructions for all payments  go to www.sarasotarealtors.com  click on MY SAR ACCOUNT at top of page  under My Services, click on “Pay/View Bill Online”  online charges will appear on your bank and credit card statements as “Realtor Association/MLS”  to print a copy of invoice, click on the invoice number

OR Come to the SAR offices and use our computer in the library which is programmed to open directly into the log‐in screen and has easy instructions located at the workstation for your use  Once payments are made online, they are updated to your account within 72 hours. We encourage you to go online to check the status of your account.

 When and Where are dues invoices sent?  Individual dues invoices will be available @ http://www.sarasotarealtors.com (under MY SAR ACCOUNT at top of the page) on November 1st, where they can be viewed, printed, and paid. In addition, an email will be sent to all members notifying them when the invoices have been produced and are available for payment.

 What will be included on this dues billing?  Annual dues: Local, State, National, CID (if applicable), and voluntary RPAC.  Please note that effective January 1, 2010, Catylist will be billed by My Florida Regional MLS, not SAR. In addition, CID membership will no longer be a requirement for subscription/participation in Catylist.

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Sarasota Realtor® Magazine

DECEMBER 2009

9

Governmental Affairs 10

Looking forward to 2010 ...

Positive thoughts for the coming year

By Marc Mansfield Governmental Affairs Director

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The end of 2009 is upon us! I am not sure about you, but it sure seems to have been a very quick 12 months.

Without a doubt, 2009 has been a challenge to SAR members and the Sarasota area in general.

One can only hope that 2010 turns out much more positive than the previous year.

During this time of the year, thoughts of politics, issues, elections and ballot amendments are replaced with the sights and sounds of the holiday season.

For just a brief moment in time we collectively breathe a sigh of relief, take stock of the past year and proclaim for everyone to hear, that we will do better in the next 12 months!

In the spirit of the holiday season see below (in no specific order of importance) my wishes for 2010: • Rebounding Economy – Looking forward to a better 2010 for the real estate market and the economy in general. Enough said!

• Social Interaction – Spending more time with those that disagree with us, we could all learn and benefit from those discussions, instead of spending so much time with people that agree with us.

• Personal Accountability – I wish people would accept responsibility for their actions rather than conveniently blame someone else for their troubles.

• Economic Growth and Development – High unemployment numbers, lower tax revenues and a shrinking economy. 2009 has not been a banner year for our local area.

Building successful and vibrant communities is a unique challenge. We need solutions to a complex set of challenges which require leadership, community participation, cooperation and most importantly compromise.

Creating well-paying jobs and providing an DECEMBER 2009

For just a brief moment in time we collectively breathe a sigh of relief, take stock of the past year and proclaim for everyone to hear, that we will do better in the next 12 months! opportunity for our children should be a given.

Without the benefit of a diversified economy Sarasota will continue to see the exodus of young professionals leaving the area for better opportunities elsewhere.

• Intergovernmental Relations – I wish for better relations between the county and municipalities during 2009. There are serious economic and fiscal challenges facing our area.

Elected officials should start working together to solve these problems. That requires leadership and checking egos at the door.

• Baseball - Baltimore Orioles, welcome to Sarasota! Have a great season.

• 2010 State Legislature – Please, no special sessions this year!

• Homeowners Insurance – This needs attention!! Is anyone in Tallahassee listening?

• Volunteers – Many thanks to the numerous volunteers that work on SAR committees. We couldn’t do it without you. May all of you have a happy holiday season and a safe and prosperous 2010.

Sarasota Realtor® Magazine

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Property Appraiser For more information, contact the Property Appraiser’s office at 941.861.8200.

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In the property tax world, Jan. 1 means more than Happy New Year!

IN THE PROPERTY TAX WORLD, JANUARY 1 MEANS MUCH MORE THAN A HAPPY NEW YEAR.

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By Bill January 1 of each year is the most significant date in the property tax Furst, GRI, CRS, CRB process in Florida where the Constitution and Statues require: Sarasota County Property Appraiser All real property is assessed at just value as of January 1, All tangible personal property is assessed as of January 1.

receiving it is likely to result in a January 1 of each year is the January 1 Exemption and Value Deadlines: most significant date in the lower taxable value.

propertyHomestead: tax process in Florida 1. Applicant must own and occupy the property as a To qualify the property must be where the Constitution permanent residence by January 1 and used for a bona fide agricultural Statues require: 2. Applicant must establish permanent Florida purpose by January 1.

- All real property is residency by January 1 assessed at New Subdivisions and/or just value as of January3. Applicant must qualify for additional personal 1, condominiums: Lots and units in exemptions (widow/widower, disability) by January - All tangible personal plats filed by January 1 or deeds property is assessed as 1 of January splitting property by January 1 4. If the applicant is not a US citizen they must have 1. will be listed separately on the permanent residence status, (green card), by Jan. 1 Exemption and Value assessment roll.

January 1.

Deadlines:

New construction: The value Homestead: 1. Applicant must Organizations: Property used for Charitable, Religious, Scientific, of new structures and additions own and occupy the property as a Literary or other exempt purposes completed for their intended permanent residence byTo qualify for these exemptions the concept is January 1 purpose by January 1 will be 2. Applicant must establish simple; the property must be OWNED and USED placed on the assessment roll. permanent Florida residency by exclusively or predominantly for exempt purposes Demolitions: The value of January 1

by January 1. structures demolished by January

3. Applicant must qualify for 1 will be removed from the Conservation: This exemption applies to property dedicated in additional personal exemptions perpetuity for conservation purposes. To qualify the assessment roll. (widow/widower, disability) by property must be encumbered by a conservation January 1 Calamities: The value of easement by January 1. structures damaged or destroyed 4. If the applicant is not a US

citizen they must have permanent by a calamity, (fire, storms, residenceAgricultural: status, (green Classified use, although this is not an exemption, card), by flood, etc.), by January 1 will be receiving it is likely to result in a lower taxable value.

January 1. adjusted on or removed from the To qualify the property must be used for a bona fide assessment roll.

Organizations: Property agricultural purpose by January 1. used for Charitable, Religious, Don’t miss the chance to Scientific, Literary New or other Lots and units in plats filed by January 1 or deeds celebrate your property tax exempt purposes Subdivisions/ splitting property by January 1 will be listed savings in 2010! separately To qualify for these exemptions While you’re making your lists Condominiums on the assessment roll. the concept is simple; the property and checking them twice for the must be OWNED and USED upcoming holiday season, don’t exclusively or predominantly for New

The value of new structures and additions forget to add a list of the steps exempt purposes completed by January 1. you need to take before January 1 Construction for their intended purpose by January 1 will be Conservation: This exemption if you want to receive the “gifts” placed applies to property dedicated in the form of tax exemptions the

on the assessment roll. in perpetuity for conservation State of Florida has for you.

purposes. To qualify the property Demolitions: The value of structures demolished by January 1 will must be encumbered by a It’s true, when applying you’ll be easement by January conservation be asked a lot of questions to get

removed from the assessment roll.

1. these benefits – but we won’t ask

if you’ve been naughty or nice in Agricultural: Classified use, Calamities: The value of structures damaged or destroyed by a order to qualify! although this is not an exemption, calamity, (fire, storms, flood, etc.), by January 1 will be 2009 DECEMBER Sarasota Realtor® Magazine

adjusted on or removed from the assessment roll.

With thanks to all the editors at Wikipedia, here’s a list of several winter festivals and holidays from many cultures.

Dazzle your friends at those holiday parties!

Nov‐Dec Eid al Adhar Islam

12/8 Bodhi, Buddhist

12/11‐12 Hanukkah Hebrew

12/21‐22 Winter Solstice Solstice Celtic Dong Zhi Chinese Modranect Saxon Yule Germanic Karachun Slavic Yalda Persian Saturnalia Ancient Rome Sol Invictus Ancient Rome Diwali Hindu Inti Raymi Andean/Quechua

Christmas Christian 12/25 Gregorian 1/6 Armenian Apostolic 1/7 Eastern Orthodox

12/26‐1/1 Kwanzaa Pan African

12/26 Boxing Day Canada/England

12/31‐1/1 Hogmanay Scotland

1/1 New Year’s Day Gregorian

We at the Sarasota Property Appraiser’s office hope your celebrations are joyous; your dreams for the New Year come true; and you spend the holiday season surrounded by the people and traditions you love and cherish. www.sarasotarealtors.com

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Sarasota Realtor® Magazine

DECEMBER 2009

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Ethics in Action 14

What should you be concerned about when the seller is bankrupt?

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By Jonathan Goodman, Karen Radakovich Realtor® Magazine Online

In today’s economy, there’s a good chance you’ll come across a home seller who’s going into bankruptcy or already in it.

Should you take the listing? Before saying yes, it’s smart to know what you’re getting into. Bankruptcy can complicate a transaction, but it’s still possible to work out a successful deal.

Foreclosure or Short Sale?

Bankrupt sellers you work with will typically owe more than their home is worth. Sellers in this situation are likely to want a short sale rather than allow their mortgage to enter foreclosure—a strategy that’s designed to leave a lesser mark on their credit history.

They may not know that the negative consequences of a bankruptcy tend to overwhelm any credit-preserving benefits of a short sale.

It’s also worth noting that by pursuing a short sale, some sellers may hasten their exit from their house.

If they were to let the house go into foreclosure, their bankruptcy status and the foreclosure process buy them time and protection from creditors, enabling them to stay in their house longer.

Given all this, bankruptcy attorneys are likely to recommend foreclosure rather than a short sale to their clients. You certainly don’t want to discourage sellers from following the advice of their bankruptcy attorney.

But if the seller still chooses to pursue a short sale and exhibits a commitment to see the deal through, then a short sale can be a viable option.

If the Seller Has Home Equity Although you may assume that bankrupt sellers don’t have any equity in their home, that’s not always true.

If the seller has equity, bankruptcy might actually help smooth the sale because the bankruptcy’s automatic stay gives the seller time to close on a well-thought-out deal.

On the flip side, the seller could have a diminished sense of urgency to get a sale closed. Particularly in a tough market, a seller who’s not fully committed to seeing a deal through can make your job much more difficult. But if the seller is committed, the bankruptcy can work in everyone’s favor.

To get started, you need to work within the rules of

DECEMBER 2009

the seller’s bankruptcy estate. Because the seller’s legal status puts the property in the estate, you—the listing agent—must work with the seller’s bankruptcy attorney and bankruptcy trustee. Be sure the trustee affirms that you’re the agent for the estate; otherwise you can face hurdles getting paid at closing. Whatever deal you structure, you’ll have to get permission from the court to close. As a result, the seller’s bankruptcy attorney will need to be involved, and that will mean additional attorney fees.

From the Buyer’s Perspective Buying a home from a seller in bankruptcy comes with challenges, too, which makes your job trickier when you’re representing the buyer. If the bankruptcy filing comes after the two parties have entered into a purchase agreement, the bankruptcy by itself doesn’t automatically lead to termination of the sales contract.

But if the seller can’t meet the closing date or other deadlines specified in the contract, which is often the case in bankruptcies, the buyer has a basis for backing out of the deal.

If the buyer wants to continue with the purchase, the transaction can close if the seller and the bankruptcy trustee are likewise motivated. But these transactions can come with considerable complexity, so it’s smart for the buyer to consult with a bankruptcy attorney.

Clients who want to buy a home from a bankrupt builder face the risk of the builder being unable to complete construction or honor warranty obligations.

You shouldn’t try to help your client evaluate these risks; recommend the buyer talk to an attorney.

Homestead Exemption: A Tool for Some Buyers Most states offer some type of “homestead exemption” that helps home owners protect a portion of their home equity in the event of a bankruptcy. If you have prospects who aren’t currently home owners, have some savings, and are facing bankruptcy, you may suggest that they consult with their attorney to find out whether the exemption can work in their favor. It might be possible for them to invest their savings in a house and protect it from creditors. If that’s the case, you could have a motivated buyer on your hands.

Jonathan A. Goodman and Karen J. Radokovich are attorneys at Frascona, Joiner, Goodman, and Greenstein, P.C., in Boulder, Colo. They can be reached at 303494-3000 or at jon@frascona.com and karen@frascona. com, respectively.

Sarasota Realtor® Magazine

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October sales in Sarasota market continue strong pace; tax credit extension may be boost

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Strong property sales in the Sarasota market in October 2009 continued to provide ample evidence of a market in recovery, with overall sales nearly 36 percent higher than October 2008. Total sales stood at 574 in October, compared to 364 total sales in October 2008. The breakdown was 419 single family homes and 155 condos sold last month.

The upward trend during the traditionally slower season could be a prelude to a busy fall and winter for local Realtors®. The overall economic recovery from a two-year recession appears to be the primary reason behind the sales spurt, along with the national $8,000 tax credit for first-time homebuyers. That tax credit was extended, and expanded to include many other homebuyers on Nov. 6, so the home buying sales rush could easily continue through the season and into the first quarter of 2010.

The median sale price for condominiums also surged during October to $220,000, up 35 percent from last month, but down 36 percent from a year ago. The median sale price for single family homes continued a downward trend, now at $151,000, about 8 percent below last month’s figure of $165,000, and down 12 percent from October 2008. The continuing high number of bank-owned property sales and short sales, which accounted for almost half of the singlefamily home sales and a third of the condo sales in October, remained the biggest factor in the overall price weakness.

In October 2009, bank-owned sales accounted for 22.4 percent of the overall sales, while short sales represented 23 percent of all sales. The median price of REO (bank-owned) sales was around $89,000, and for short sales was $150,000.

For normal arm’s length sales the median sale price was $230,000, or almost double the figure for the distressed properties.

“The federal action to extend and expand the homebuyer tax credit should be a tremendous boost to our industry and the national economy as a whole,” said Bill Geller, 2009

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SAR President. “The Florida economy and the Sarasota area in particular depend to a large extent on the health of the real estate industry.

The tax credit is just the kind of program we all need to relieve the market of the distressed properties that are keeping our median sale price artificially low. We can see the clear and dramatic differential between the median sale price of bankowned properties and short sales versus the median sale price of normal arm’s length sales. Once these foreclosed and distressed properties are bought up, we should see a return to a healthy, vibrant local market, with normal home price appreciation.”

Pending sales have now exceeded the 800 level for eight out of 10 months in 2009, after lingering in the 400 to 500 per month range for much of the previous two years. The statistic is a strong indicator for the next two or three months of sales, when many of these pending sales will become closed sales. Pending sales, which hit 839 after dropping to 799 last month, 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.

Most of the statistics continue to point to a market in the initial stages of recovery. Inventory levels continued to decline and are now at the lowest point since the boom ended – a good sign for a market in recovery. There are now only 3,895 active single family listings and 2,331 active condo listings, the lowest figures since late summer of 2005 and earlier when the boom first started.

The “months of inventory” – the number of months it would take to sell all the available properties at the current sales rate – was down for both single family and condos. The figure is 9.3 months for single family and 15 months for condos. A figure of 6 months is considered to be a market in equilibrium between buyers and sellers.

Sarasota Realtor® Magazine

DECEMBER 2009

15

Sarasota MLSSM Statistics October 2009 Single Family Condo

Unit Sales 500 450 400 350 300 250 200 150 100 50 0 Oct‐08

Nov‐08

Dec‐08

Jan‐09

Feb‐09

Mar‐09

Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Single Family Condo

Median Sale Price $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Oct‐08

Nov‐08

Dec‐08

Jan‐09

Feb‐09

Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct.09

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

3895

419

10.8

186

$151,000

$160,000

9.3

601

15.4

805

212

This Month Last Year

6435

299

4.6

163

$172,450

$245,000

21.5

457

7.1

962

382

3915

399

10.2

174

$165,000

$165,000

9.8

614

15.7

778

193

‐

3999

‐

179

$160,000

‐

‐

7060

‐

7475

‐

Oct 93.1 94.4

Nov 92.0 ‐

Dec 93.0 ‐

Last Month YTD

Jan 92.0 93.0

2008 2009

Single Family – Sale Price Vs. List Price % Rates Feb 92.0 93.1

Mar 93.2 92.5

Apr 93.3 92.4

May 92.0 93.2

Jun 93.0 93.8

Jul 93.0 93.2

Aug 92.0 93.6

Sept 93.1 94.2

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of November 10th, 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

DECEMBER 2009

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics October 2009 Single Family Condo

Inventory 8,000 6,000 4,000 2,000 0 Oct‐08 Nov‐08 Dec‐08

Jan‐09

Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09

Aug‐09 Sep‐09

Oct‐09

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Oct‐08

Nov‐08

Dec‐08

Jan‐09

Feb‐09

Mar‐09

Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Condo

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

2331

155

6.6

250

$220,000

$199,450

15.0

238

10.2

331

235

2457

65

4.5

215

$349,000

$320,000

22.4

92

6.3

329

503

2337

155

6.6

208

$162,500

$200,000

15.1

185

7.9

266

217

‐

1392

‐

208

$196,322

‐

‐

1836

‐

3167

‐

Nov 91.0 ‐

Dec 91.0 ‐

This Month This Month Last Year Last Month YTD

Condo – Sale Price Vs. List Price % Rates

2008 2009

Jan 91.0 91.0

Feb 91.1 90.2

Mar 91.0 90.4

Apr 91.0 92.2

May 92.0 90.1

Jun 92.0 91.4

Jul 93.0 92.1

Aug 90.0 92.4

Sept 90.0 91.5

Oct 91.0 92.4

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

Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

DECEMBER 2009

17

Behind the Numbers: Shorts, REOs and Arm’s Length Sales Numerous media reports during the past three years have noted the decline of the national real estate market, and the rise of bank-owned (REO) and short sales listings. Most reports give the basic picture as this - the number of sales plummeted, the median sale prices followed suit, and now we are left with a market struggling to recover, and prices continuing to drop in the face of lingering recession and joblessness.

But the bigger, and more interesting perspective, apart from the dire headlines and reports, can be found by comparing the number of local distressed sales (REOs and short sales) to the number of normal, arm’s length sales (those involving a buyer and seller, with no bank-owned or short sale involved).

In addition, the trends for the median sale prices in these three categories from January 2007 to the present day paints an important picture of how the market is performing.

In the final analysis, what we see is this: The number of bank-owned sales reached their highest level in the first quarter of 2009 (specifically March 2009).

At the same time, short sales began a gradual rise, reaching their highest level in the third quarter of 2009 (specifically September 2009). See the charts below.

In October 2009, these trends appear to have reversed, with short sales declining for both single family homes and

condos, while REO sales have started upwards again. During the past three years, arm’s length sales have dipped and surged, and are currently on the rise.

The total number of distressed sales in the local market is still about a third of all sales reported by SAR members. This fact is key in understanding why the median sale prices have remained relatively low, and below market expectations.

By looking at the two charts at the bottom of the next page, one can see the major disparity between median sales price for REO sales and short sales as compared to arm’s length sales For example, the median sale price for a typical single family home sold at arm’s length during the third quarter of 2009 was $225,000. But the typical bank-owned home was sold for only $100,000, and the typical short sale brought only $155,000.

For condos, the difference is even more dramatic. In the third quarter of 2009, buyers paid $70,000 for the typical bank-owned condo, and $112,500 for a short sale. But the median sale price was $300,000 for the arm’s length condo sale.

What does this tell us about the hidden strength of the Sarasota market? Essentially, current statistics point to a market divided into three much different markets. Once the number of distressed properties begins to decline to

Single Family Sales ‐ By Quarter

REO

Short

Arm's Length

1200 1000 800 600 400 200 0 2007‐Q1

2007‐Q2

2007‐Q3

2007‐Q4

2008‐Q1

2008‐Q2

2008‐Q3

2008‐Q4

Condo Sales ‐ By Quarter

2009‐Q1

REO

Short

2009‐Q2

2009‐Q3

Arm's Length

700 600 500 400 300 200 100 0 2007‐Q1 18

2007‐Q2

DECEMBER 2009

2007‐Q3

2007‐Q4

2008‐Q1

2008‐Q2

2008‐Q3

Sarasota Realtor® Magazine

2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

www.sarasotarealtors.com

traditional levels, the arm’s length median prices will begin to rise, bringing the overall market prices back to the traditional appreciation curve.

In a recent analysis of the national real estate market

by Lawrence Yun, NAR chief economist, he singled out Sarasota as a market that became overheated and overpriced from 2003-2005, but has since dropped below the median sales price which should be expected. He referenced the traditional annual price appreciation the area enjoyed prior to 2003 (see chart at right), and said Sarasota would likely return to the normal appreciation curve once the market is rid of the high percentage of distressed properties.

What factors will help this stabilization occur? First - an expected economic rebound after the lengthy recession.

Second - the continuing first-time homebuyer tax credit, which is producing many new first-time buyers in the area.

And third - the continuing historically low mortgage interest rates, which have allowed many more people to afford a home.

Eventually, owners of well-maintained homes in good neighborhoods will become the primary sellers, and the overall median sale price increase should begin to occur.

The bargain rack will be depleted, and buyers will be left with prime properties to purchase. This trend should then bring back a gradual property appreciation to the overall community, back to our trend line.

While we will not likely see a return to the boom years of 2003-2005, property appreciation in our area is traditionally in the six to eight percent range annually. This provides for continuous growth in home equity over the years, and the resultant growth of homeowner wealth. Investing in a home is historically a wise choice. In addition to the normal property appreciation, the purchaser can live in the home, enjoying the fruits of the purchase.

Dayton vs Sarasota Home Price $ thousand

Source: NAR

Single Family Median Sale Price

REO

Short

Arm's Length

$350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2007‐2ndQ

2007‐1stQ

2007‐3rdQ

2007‐4thQ

2008‐1stQ

2008‐2ndQ

2008‐3rdQ

Condos Median Sale Price

2008‐4thQ

REO

2009‐1stQ

Short

2009‐2ndQ

2009‐3rdQ

Arm's Length

$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2007‐1stQ

www.sarasotarealtors.com

2007‐2ndQ

2007‐3rdQ

2007‐4thQ

2008‐1stQ

2008‐2ndQ

2008‐3rdQ

Sarasota Realtor® Magazine

2008‐4thQ

2009‐1stQ

2009‐2ndQ

2009‐3rdQ

DECEMBER 2009

19

Education Programs

Get to know the new HUD-1 Title: The New HUD-1 Date: Friday, Dec. 18, 9 a.m.

Location: SAR Auditorium Instructor: Sheryl Edwards, Esq. The Edwards Law Firm, Sarasota Cost: FREE TO SAR MEMBERS Others: $20 This presentation will review the new HUD-1 Settlement Statement that Housing and Urban Development is requiring to be used beginning January 1, 2010, for all RESPA transactions.

The new Good Faith Estimate form and Truth in Lending law changes will also be introduced so

attendees can see how they impact each other.

The primary focus of the presentation will be to assist real estate licensees in reading and understanding the changes to the HUD-1 so they can explain the form to their customers.

The presentation is expected to last approximately two hours with a Q&A after.

Register online today at www. sarasotarealtors.com, as the last HUD seminar was sold out well in advance.

Second Short Sales & Foreclosure designation class set Title: Short Sales & Foreclosure Date: December 15, 2009 at 8:30 AM Location: SAR Auditorium Instructor: Barbara Wolff Cost: $79 (SAR members); $99 (others) This extra offering was just added because the first class on Dec. 9th sold out so quickly! Jump on this one!

The price is one you’ll never see again! Just $79 for SAR members. This is the core course. then you take 3 webinars at no cost (each webinar is one hour long).

Then you submit your application -- and the $175 application fee is WAIVED thourgh December 31, 2009! So the $79 cost of this course is all you’ll have to spend to get this hot new certification!

What’s coming up in 2010? Get an early peek!

Here is a tentative schedule of major educational events for 2010. Please keep an eye on the web site, your Weekly Updates, and the magazine during the year for possible schedule changes: 2010 Designation Courses/Events GRI 1: Feb. 22-24 & March 1-3, 2010 ABR: March 23-24, 2010 GRI 2: May 24-26, June 1-2, 2010 Green: June 7-9, 2010 CIPS Institute: June 21-25, 2010 GRI 3: July 26-28, Aug. 3-4, 2010 International Congress: Sept. 23-25, 2010 (tentative)

Continuing Education 14 HR CE: Feb. 9-10, 2010; Aug. 10-11, 2010

20

DECEMBER 2009

3 HR CE: Core Law, Feb. 9, 2010 and Aug. 10, 2010 Tax Implications of Short Sales: Jan. 20, 2010 Building a Customer-Friendly Website: Jan. 26, 2010 Foreign Investment in Real Estate For Immigration Purposes: Feb. 17, 2010 Purchasing Real Estate Through Retirement Accounts: Feb. 17, 2010 Motivational: Richard Flint: Feb. 3, 2010 Member Orientation January 18 March 8 May 10 July 12 September 13 November 8

Sarasota Realtor® Magazine

February 8 April 12 June 14 August 9 October 11 December 13 www.sarasotarealtors.com

Final MLXchange classes set for 2009!

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 Dec. 7, 9 a.m. to Noon Learn the basic tools of MLXchange.

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

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

This is a mandatory session for all new users.

- Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information Entering and Updating Listings in MLXchange Dec. 7, 1:30 to 3:30 p.m.

This class is mandatory if you will be www.sarasotarealtors.com

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 house information, Supra Key and ShowingTime - Inventory watch - easiest way to modify the listings iMapp - Interactive Tax and Mailing Labels Dec. 8, 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

Sarasota Realtor® Magazine

comparable properties - MLS and foreclosure searches Creating a Professional CMA Dec. 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 hand-in-hand with a successful real estate business.

MLXchange Advanced Dec. 16, 9 p.m. to Noon 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 - Edit favorite reports, personalize home page resource link and setting defaults Design Web Pages, Capture Leads Dec. 16, 1:30 to 3:30 p.m.

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

DECEMBER 2009

21

GRI course coming to Sarasota in 2010

Title: GRI Course 1 Dates: Feb. 22-24, March 1-3, 2010 Times: 8a.m. to 5 p.m. (varies) Credits: 45 hours salesmen’s post-license credit, or 14 hours continuing education credit NAR Code of Ethics Requirement for 2012 Cost: SAR Members by 2/9/09: $325 Non Members by 2/9/09: $350 After 2/9/09: Add $25

Set yourself apart. Earn the designation that makes a difference and increases your income.

• According to the data in the 2003 National Association of Realtors® Profile nineteen percent of all Realtors® have earned the GRI designation.

• According to the member survey conducted in 2003 by the National Association of Realtors®, Realtors®with a designation earned over $33,200 more annually than non-designees.

• Expand your network of real estate professionals through course contacts to generate more leads and referrals.

In today’s competitive business environment you need more than just motivation and initiative to succeed. You need the

advantage of the education you receive in the GRI program.

This GRI series is offered by FAR through its Florida Realtor® Institute. All the instructors have been carefully screened for their knowledge of the subjects as well as for their teaching techniques—they’re the best real estate teachers in the state. Instructors for the Sarasota course are: Grant Simon (Finance); Steve David (Contacts to Contracts); Dick Fryer (Professional Standards & Law); Ira Zlatkin (Tax I); Chuck Bonamer (Business Planning and Fair Housing).

But don’t wait too long to sign up for GRI Course 1! SAR is the only Realtor® Association in the vicinity that’s offering any of the courses in 2010, and we expect the course to fill up quickly.

Mark your calendar for GRI 2 (May 24-26 and June 1-2, 2010) and GRI 3 (July 26-28 and August 3-4, 2010).

GRI Is Online: Don’t wait in line, go online! GRI Course 1 is now available online through a special Florida Association of Realtors® website: www.fargri.com. Online convenience puts the course at your fingertips, whenever you want it, and offers the same license renewal menu of credits that the live version does. GRI 2 is available at a special discount (but offers no CE credits at this time).

Can your clients eliminate tax debt on distressed sales?

Title: Tax Implications of Short Sales & Foreclosures Date: Jan. 20, 2010 Time: 9 a.m. to 1 p.m.

Instructor: Ira H. Zlatkin, CPA, MST Cost: SAR Members: $20; NonMembers: $30 In these turbulent times, homeowners and investors alike are increasingly faced with short sales, foreclosures, and even abandonments. In these cases, property owners are surprisingly faced with the

potential taxation of income as a result of cancellation of indebtedness and even a gain or loss on the property’s disposition. Recent economic stimulus legislation allows a limited exclusion of income from the forgiveness of debt on a personal residence. Learn how the amount of taxable income reported by the bank due to debt forgiveness on a personal residence could be totally eliminated. Also, learn how sellers of investment property and real estate used in a trade or business may also avoid

taxation of debt forgiveness income.

Learn how to protect, for future use, the most valuable tax benefits which may have been accumulated by the seller, such as unused tax credits and suspended losses, from being taken away by Uncle Sam to offset the allowed reduction of debt forgiveness income.

Students will complete case studies to help reinforce their understanding.

SAR members should register online.

Click on “education registration” at www.sarasotarealtors.com.

Renew your license with 14-hour CE course in February

Title: 14-Hours Continuing Education for License Renewal Dates: Feb. 9-10, 2010, 9 a.m. to 5 p.m.

Instructor: IFREC Real Estate School Cost: SAR Members $79; Non-members, $99

The Institute of Florida Real Estate Careers, headquartered in Orlando, Florida, will be the provider this year of the 14-hour license renewal course for SAR. Founded in 1983, the Institute of Florida Real Estate Careers, Inc. (IFREC) is recognized as the leader in Florida

22

DECEMBER 2009

real estate education.

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.

SAR members, please go to www.sarasotarealtors.com to register for the live course. Non-members, go to the education tab at the top of the home page (www.sarasotarealtors.com) to download a registration form that can be completed and faxed to SAR.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

i

By Robert Freedman Realtor® Magazine Online

It’s been a question without a clear answer for some time now: Are individual real estate practitioners eligible for the various loan programs offered by the U.S. Small Business Administration?

This summer, National Association of Realtors® President Charles McMillan sought muchneeded clarification from the government agency. “First and foremost, real estate agents are entrepreneurs and should not be viewed as significantly different from entrepreneurs that operate as sole proprietorships or franchisees,” McMillan said in a letter.

The SBA responded just weeks later, saying that, yes, real estate practitioners and brokers are allowed to apply for its federally backed loans. The news is especially welcome at a time when many real estate professionals are struggling to find capital for day-to-day operating expenses, debt service, capital expenditures, and funding for expansion.

So now the question is: Which SBA loans might you want to apply for, and what could you use the funds for? NAR analysts have identified three types of small-business loans that are most applicable to sales associates.

Of most immediate interest is a new no-interest, no-fee, deferredpayment short-term loan called ARC—an acronym for America’s Recovery Capital. This loan program was created as part of the massive economic rescue effort initiated early in President Barack Obama’s administration to give businesses a quick shot of money

www.sarasotarealtors.com

to help them ride out a temporary cash crunch. The loans, for up to $35,000, are intended to help you maintain payments on, or even replace, high-cost business debt.

You can use the money to pay the principal and interest on existing debt, including credit card debt if the debt is for business expenses, NAR analysts say.

Other options to consider are the SBA’s two flagship products, Section 7(a) loans and Section 504 loans. With the 7(a) Guaranty Loan Program, you would apply for funding with a participating private-sector lender, such as a bank.

The money can be used for working capital or debt replacement. The 504 Loan Program, meanwhile, is facilitated through community agencies, with loans used mainly to pay for fixed assets. This type

Sarasota Realtor® Magazine

Broker Corner

Facing a cash crunch? Grab a no-interest loan from the federal government

of loan is ideal if you’re expanding your business or if you’re a broker who’s opening up a new branch.

For individual practitioners, the 7(a) loan program is probably the more useful option, NAR analysts say. And it’s recently been modified to become more attractive to borrowers during the downturn; fees have been temporarily cut and the loan guarantee level has been increased to 90 percent from 75 percent, among other things.

The maximum loan amount, at $2 million, is far more substantial than the ARC loans, as the loan is intended for long-term needs rather than emergencies.

For more information on eligibility for financial help, speak with your SBA district office.

Contact information is available at www.SBA.gov.

DECEMBER 2009

23

CONGRATULATIONS!

Dedication and hard work pay off!! We congratulate our members who recently completed the requirements for these National Association of Realtors® certificate programs: ePRO Certification (e-PRO), Certified International Property Specialist (CIPS), Resort & Second Home Property Specialist (RSPS), and Transnational Referral Certification (TRC).

e-PRO Certification (e-PRO)

Michel Bergier Jamie Carrion

Keller Williams Lakewood Ranch Michael Saunders & Company

Certified International Property Specialist (CIPS)

Denise Conrad Brandy Coffey Nick Porter

RE/MAX Alliance Group Coffey & Company Realty RE/MAX Alliance Group

Resort and Second Home Property Specialist (RSPS)

Paula Cashi Heidi Cox Michelle Crabtree Diane Hart Gregory Christina Neff David Swenson Kristin Triolo

Prudential Palms Realty RE/MAX Alliance Group Michael Saunders & Company Michael Saunders & Company Michael Saunders & Company Exit Creative Realty Cityscapes International Realty Group

Short Sales & Foreclosure Certification (SFR)

James Buchanan Larysa Switlyk

James Buchanan Realty James Buchanan Realty

Transnational Referral Certification (TRC)

24

J. Gerry Antonetti, Coldwell Banker Residential RE Ashley Bromby, Keller Williams Lakewood Ranch Malcolm Calladine, Prudential Palms Realty Jamie Carrion, Michael Saunders & Company Julie Cutmore, Prudential Palms Realty Terri Derr, Michael Saunders & Company Christine del Monte, Investments in Sarasota Paul Falanga, RE/MAX Platinum Realty Chad Fay, Prudential Palms Realty Thomas Flood, Zupa & Associates Chaim Gleitman, Xena Vallone Realty Inc. Dennis Kedzierski, Coldwell Banker Residential RE Stephanie Kitsemble, Gulf and Bay Club Realty LLC Margaret Lanier, Sandals Realty Edie Lomason, Horizon Realty Dawn Merrill, Horizon Realty Barbara Miller, Coldwell Banker Residential RE Helena Nordstrom, Prudential Palms Realty Elizabeth Phillips, Michael Saunders & Company Gail Linnell Sanderson, Keller Williams Lakewood Ranch Nancy Spinks, Prudential Palms Realty Bozena Suponic, Horizon Realty Karen Wantuck, Coldwell Banker Residential RE Traute Winsor, Michael Saunders & Company

DECEMBER 2009

Sarasota Realtor® Magazine

Patricia Ann Baldwin, Sandals Realty Saint Cachiotti, Michael Saunders & Company Janice Carper, Hunt Real Estate Rick Cremer, Hunt Real Estate Carol Dahlin, Signature Sotheby’s International Faye Doyle, RE/MAX Alliance Group Donna Elmore, Herrli-Elmore Realty Inc. Linda Lou Fara, Coldwell Banker Residential RE Miriam Fernandez, Robles Realty Sharon Freeman, Michael Saunders & Company Jennifer Herman, Mount Vernon Property Management Yolanda Kirpatrick, Prudential Palms Realty John Klosner, Century 21 Advantage Kimberly Leckie, Coldwell Banker Residential RE Sheryl Melendez, Sarasota Bay Luxury Properties Iveta Mesarosova, Impulse Realty LLC Jana Miracle, Florida International Property Group Robert Novak , Exit Realty Gulf Coast Mike Rosario, RoseBay Real Estate, Inc. Ricardo Souza, Prudential Palms Realty Lauren Strout Koken, Prudential Palms Realty Helene Vollmer, Prudential Palms Realty Louis Wery, Coldwell Banker Residential RE

www.sarasotarealtors.com

ement

E

Realtors® appraise HVCC appraisal system

Nearly one out of four Realtors® report that their clients have lost a sale since the Home Valuation Code of Conduct (HVCC) was implemented on May 1 of this year. Realtors® and other industry insiders examined the impact of the HVCC appraisal guidelines on the nation’s real estate recovery efforts during the 2009 Realtors® Conference & Expo.

“Determining an accurate property value is very difficult in today’s market, and the HVCC has unintentionally added to the problem, in many cases,” says National Association of Realtors® (NAR) President Charles McMillan. “As the leading advocate for homeownership, NAR has been calling for a moratorium to address the unintended consequences of HVCC and its implementation. Accurate, timely appraisals are necessary for successful real estate transactions, and both Realtors® and appraisers have told us that the HVCC is adversely affecting the appraisal process.”

The HVCC makes lenders responsible for hiring appraisers, but also requires lenders to insulate themselves from the appraisal process.

This has led to an increase in the use of appraisal management companies

(AMCs). AMCs are large brokers for individual appraisers, and the appraiser they assign to a specific home may or may not have experience or familiarity with a particular neighborhood.

According to NAR, Realtors® across the country have reported delayed and lost sales related to HVCC implementation because of poor appraisals often conducted by inexperienced appraisers unfamiliar with an area.

In an NAR survey conducted earlier this year, 71 percent of Realtors® reported an increase in the use of appraisers not from the local area.

In the same survey, 85 percent of appraisers reported a perceived reduction in appraisal quality. In addition, 76 percent of Realtors® had experienced an increase in appraisal time since the new HVCC rules were enacted. NAR says these factors often adversely affected the sale or the sales process, which occasionally resulted in the loss of a sale or a homeowner’s inability to refinance into today’s lower rates.

“We’re seeing too many appraisers from out of the area. I know from my own practice that we have had closings delayed and transactions cancelled because of errors in the

appraisal process stemming from the HVCC,” says panel moderator and NAR Regulatory Issues Forum Chair Ellen Renish. “Certainly there’s a way to ensure more accurate, timely appraisals.”

NAR Appraisal Chair Penny Triplett detailed the unintended effects of HVCC implementation, including a lack of geographic competency; decreased portability, in which lenders refuse to accept appraiser reports from other lenders; and increased consumer costs. “NAR surveys show that, on average, appraisal costs have increased $100 for the average homebuyer since the HVCC was implemented,” Triplett says.

NAR Risk Management/License Law Forum Chair Steve White shared several real-life stories of people who had lost the opportunity to become homeowners, including accounts of appraisers refusing local price comparables and appraisal reports that incorrectly claimed that local home sale prices had been falling.

“Many appraisers have chosen to exit the industry, so we now deal with appraisers who are new to the business and unfamiliar with the area,” says White. - Florida Realtors®

Sarasota Young Realtors® slate holiday program Dec. 2 in Lakewood Ranch The Sarasota Young Realtors® are teaming up with the Young Lawyers Division of the Sarasota County Bar Association, the Young Builders Network of the Home Builders Association Manatee-Sarasota, and the Risk Management Association Young Professionals to raise money for the AGAPE Corner Boarding School, a safe, loving home and a place to learn for children.

The date is Dec. 2 at 6 p.m. at the Polo Grill at Lakewood Ranch, 10670 Boardwalk Loop (Exit 213 off I-75). Music, free appetizers & drink specials. Cost - $5 prior to party, $10 at the Door. Cash, gift cards, and unwrapped children’s gifts are much appreciated. Please contact Joya Birge for more information/registration - joya@sarasotarealtors.com.

up

John Kiernan Phone

CERTIFIED GRADUATE REMODELER AGING-IN-PLACE SPECIALIST SELECTED TOP 50 IN AMERICA State Lic. # CBC040759

4007 39th Street East, Bradenton, FL 34208

941 748-1219 Cell

941 726-2318 Fax

941 745-2558

www.kiernanremodeling.com

www.sarasotarealtors.com

Sarasota Realtor® Magazine

DECEMBER 2009

25

SAR 2009: A Major Year of Progress 2009 was an incredibly busy and productive year for the Sarasota Association of Realtors® and it’s members. At top left (and moving clockwise), the staff held an SAR Member Appreciation Lunch in April; the annual Green Expo was held in May; three churches were painted by the Community Outreach Committee on Oct. 24th; the annual SAR Meeting was held in September; and several Realtors earned their Realtor® Emeritus stats (including Craig Lewis, shown with 2009 SAR President Bill Geller). But if you think this was an amazing year, just wait until 2010! And check out many more photos from the year on the SAR Facebook page www.facebook.com/SarasotaRealtors

Blue Dasher available at My Florida Regional MLS Blue Dasher has come to town!

My Florida Regional MLS is proud to announce its newest partner - Blue Dasher Technologies, the creators of Dasher Virtual Drive.

This new “virtual drive” technology adds sizzle to listings and will allow you and your potential buyers to “tour” the neighborhood at the street-level with a full 360-degree rotation capability.

With a simple click on the virtual dashboard, you’ll be driving through neighborhoods viewing homes, grocery stores, schools, malls and any place of interest without burning a single ounce of gasoline. Dasher Virtual Drive can change the way you showcase homes.

My Florida Regional MLS is launching Blue Dasher in two phases, based on geography. You will be given an opportunity to “test drive” this amazing new technology -- absolutely free with your MLS membership.

How it Works While viewing a listing in MLXchange, you can click on the Blue Dasher crossroads icon to begin the Dasher Virtual Drive process.

Through a new browser window, you will “virtually” be placed in front of the listing of your choice with a view of the house from the street. You can rotate the view from your position to a full 360 degrees. Clicking on

the “drive” button located on the virtual dashboard will take you for a simulated ride through the neighborhood. Left and right turn signals will let you choose your way at each intersection! Other buttons and controls give a real-life feel to your virtual neighborhood drive experience.

Advertising Signs Virtual yard signs add advertising impact to your listings. Within the Blue Dasher web server, red-and-white “For Sale” signs are placed by you in front of your listings to help advertise the property’s features to other Blue Dasher users and their potential buyers.

Instead of aluminum signs, these signs are completely virtual. You’ll attract prospective buyers, and your sellers will love this feature.

At the beginning of the “test drive” period, you will need to manually enable the virtual signs for your listings to ensure that they are placed in the ideal location in front of your property while maximizing the view.

Once you understand the functionality of a virtual yard sign, you’ll quickly see the marketing benefits.

Each phase of the release -- lasting about a month -- will give you full functionality, complete with virtual

yard signs. Please note that the virtual yard signs will disappear at the conclusion of your test drive, unless you enroll in the program prior to the ending of your test drive period.

By enrolling during the test drive, you can save up to $20 per listing (active, temporarily off market and pending status).

Blue Dasher is now active in the Sarasota area. Boards and Associations in the test drive phase through Dec. 9th include: • Sarasota Association of Realtors® • Desoto County Board of Realtors® • Englewood Area Board of Realtors® • Greater Tampa Association of Realtors® • Manatee Association of Realtors® • Punta Gorda-Port Charlotte-North Port Association of Realtors® • Venice Area Board of Realtors®

CID elects new board, officers for 2010 The Commercial Investment Division of SAR elected their new board and officers for 2010 at their November general membership meeting.

2010 CID Officers & Directors Officers:

President: Lee Delieto Jr., Michael Saunders & Co. President-Elect: Anthony Homer, Lakewood Ranch Commercial Past President: Jag Grewal, Ian-Black Vice President: Rachel Neves, Neves Properties Secretary: Tim Mapp, Mapp Realty Treasurer: Linda Emery, Michael Saunders www.sarasotarealtors.com

Directors: Dave Altwies: Exit Gulf Coast Realty (1 year term- 2010) Lori Conable: Osprey Real Estate (1 year term-2010) Eric Massey: Michael Saunders & Co. (2 year term-2011) Mike Sporer: Interstate Commercial Brokers (2 year term-2011) Brad Lindberg: Hembree & Associates (3 year term-2012) Diane Lee: Wagner Realty (3 year term-2012) The final CID event for 2009 will be held Tuesday, Dec. 15, 8:30 a.m. CID Annual Holiday Breakfast Location: Hyatt Regency Sarasota Sponsor: Wachovia

Sarasota Realtor® Magazine

DECEMBER 2009

27

WCR charted winning course to success!

By Janice Litke 2009 WCR President The Sarasota Women’s Council of Realtors® gathered some of real estate’s top social media experts to share experiences, strategies and best practices for building your business online.

We learned the in’s and out’s of social networking and we now understand what products and tools are a must have for today’s real estate professional.

From blogging to Facebook, we learned how to integrate social media into our current marketing plan and build client loyalty by understanding how to effectively communicate with today’s consumer.

This is a great help to everyone who is serious about boosting their online presence.

We charted a course to make the upcoming year high-performing and rewarding. The strategies combined the latest consumer, leadership and sales research with marketing and technology tools that helped develop a comprehensive road map for success in 2010. We identified key technology opportunities to maximize our talents, leverage current technologies and create customer-delightful services to grow our careers.

Today’s rapidly changing real estate environment continues to challenge both agents and brokers alike. Savvy Realtors® know that keeping your business on-top and out-front means staying informed. “Future Real Estate Trends” provided us with a look at emerging trends in the industry.

As real estate continues to change, so do client’s expectations. We shared tips for staying relevant and profitable in a shifting market.

Marki Lemons led the way, showing the PMN Candidates and Designees how to profit in today’s real estate market by focusing on distressed properties. Today, millions of homeowners are in default on their mortgages nationwide. As the number of short sale properties continues to rise, so do the potential opportunities for real estate professionals to succeed in this niche market.

This session showed us actionable steps to develop a plan that caters to homeowners in default and buyers seeking to purchase distressed properties. In a market experiencing near record numbers of short sales and foreclosures, Marki used her dynamic, professional attitude and vast experience to become known as Chicago’s “Queen of Foreclosures.”

Women’s Council offered an exciting day of leadership skills training, including training, practice and take-away tools in important leadership areas: Leadership essentials, Public speaking skills, 28

DECEMBER 2009

Planning and delivering an effective meeting and Conflict management strategies. This leadership training workshop prepares us to take ourselves, our volunteer participation and our business to the next level.

Participation Pays The best way to build your referral network is to participate in Women’s Council programs and events. The Programs and events are designed to engage more members, in ways they prefer to serve, on the important issues facing Women’s Council today. Come and participate in our Programs and events to share your expertise, to make new business contacts and to learn from top leaders in the real estate industry.

Change is in the Air! Not only do the seasons change but change is in the air right here in our chapter. Our Annual Elections brought in new Officers who will lead us in 2010. These new leaders will bring with them changes also. They will have a new way of doing things. They are fresh faces that bring smiles and an excitement to the air.

My wish is that each of you will welcome them in the coming weeks and months as they prepare for their upcoming year. Get to know them as a group and individually. Shake their hands and thank them for stepping forward and being willing to serve.

It takes courage to be a leader, it takes time and it takes a great amount of patience.

But more importantly it takes support that only you, the members, can give. Never forget to give that support and encouragement. Without it, this volunteer position seems a little less important. But with it, it is so very important. This Chapter has a lot going on. I look forward to seeing everyone at each of the upcoming meetings and events.

Remember, we are a great place to network!

2010 Sponsorship Opportunity Available Women’s Council of Realtors® Florida State Chapter and Local Chapter have Sponsorship Opportunities available. Market yourself or your company to the Sarasota Chapter and the entire Florida State Women’s Council membership throughout the year by becoming a State and/ or Local Chapter Sponsor. You will be recognized at Chapter, District and State meetings. Different levels of sponsorship are available, please contact Vice-President Robin McKeever directly at McKeeverTeam@aol.com for State Sponsorships and Karen Grant at KarenLGrant@Comcast.net for

Sarasota Realtor® Magazine

Continued on P. 29, See WCR

www.sarasotarealtors.com

2010 real estate forecast hopeful

Aided by the homebuyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors® (NAR).

“Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” says Lawrence Yun, NAR chief economist.

“In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year.”

The 2009 National Association of Realtors Profile of Home Buyers and Sellers shows that first-time buyers accounted for a record 47 percent share of home sales over the past year, up from 41 percent in the 2008 survey.

The share has risen steadily since a cyclical low of 36 percent in 2006.

Existing-home sales are expected to total 5.01 million in 2009, a gain of 2.0 percent over last year, and then are forecast to rise 13.6 percent to 5.69 million in 2010. “A steady draw-down of inventory will help home values to turn positive in 2010, but risks such as unemployment remain in the economy,” Yun says.

Lawrence Yun New-home sales are projected at 397,000 this year, recovering to 549,000 in 2010. Housing starts, including multifamily units, should total 564,000 units this year but grow to 752,000 in 2010.

The 30-year fixed-rate mortgage will probably average 5.3 percent in the fourth quarter, rising gradually to 5.8 percent by the end of next year.

NAR’s housing affordability index will set a record in 2009, averaging

WCR

From Page 28

Local Chapter Sponsorships.

To all Sarasota Women’s Council of Realtors members and friends, Thank You for all your time, effort and support and for making this 2009 another wonderful year!

We really did shine in 2009!

THANK YOU TO OUR 2009 PROGRAM SPONSORS SILVER: Lakewood Ranch Communities, LLC and Neal Communities BRONZE: Alliance Appraisal Associates, Inc., Kelietza, Oswald Trippe-Joe Sikora, Regions Mortgage, Sarasota Costal

www.sarasotarealtors.com

30 percentage points higher than 2008. Affordability will decline from record highs next year but will remain at historically attractive levels for homebuyers.

“We’ve seen a steady downtrend in housing inventory for well over a year, and home prices appear to be in the early stages of stabilizing,” Yun says.

“With expansion of the tax credit to additional buyers through the middle of next year, and no major unforeseen events impacting the economy, home prices should rise between 3 and 5 percent in 2010, but with wide geographic differences.”

He expects growth in the U.S. gross domestic product to be at a pace of 2.5 percent in the current quarter, with GDP up 2.8 percent in 2010.

The unemployment rate is close to peaking and is projected to ease to 9.5 percent by the end of next year.

“The size of the U.S. budget deficit is a concern going forward and carries the risk of higher inflation. At this point, that risk appears to be restrained,” Yun says. Inflation, as measured by the Consumer Price Index, is seen contracting 0.4 percent this year, then rising 1.6 percent in 2010. Inflationadjusted disposable personal income is estimated to grow 0.4 percent this year and 1.2 percent next year. - Florida Realtors®

Credit Union, and Silver Fox Pest Management.

AND OUR STATE SPONSORS PLATINUM:HomeTeam Inspection Service, Magnolia Insurance, North American Title Company, Wells Fargo Home Mortgage GOLD: Bank of America, Stewart Title Guaranty, X-Caliber Title SILVER: Anderson Auctions, Attorneys’ Title Insurance Fund, Inc., Bright House Networks, Harper & Pinzino Island Realty, Hughes Exterminators, Paul Home , RE/MAX Alliance Group Programs and Events Calendar 2009 Dec. 11 - Installation & Farewell - Bird Key Yacht Club

Sarasota Realtor® Magazine

DECEMBER 2009

29

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Lichter, Debra: Debra D Lichter R. E. Broker Maudlin, Mark: Mark Maudlin Appraisals Silverstein, Jason: Budget Realty Of Sarasota Wilmoth, Joel: The Wilmoth Group Inc.

New Members

Broslat, Arthur: Sandals Realty Buetergerds, John: Keller Williams Lakewood Ranch Coles, Roger: Argus Realty Group Inc. Cook, Michael: Hunt Real Estate ERA Curt, Lisa: Michael Saunders & Company DeZiel, Allan: Hunt Real Estate ERA Dunn, Brian: Wagner Realty Garland, Brenda: TownCenter Realty Greenstein, Eric: Tarpon Coast Realty Inc. Hayes, Stephen: Hallmark Realty Hilding, Lori: Hunt Real Estate ERA Kunkel, Fredrick: Cristello and Co Real Estate Maag, Donald: Prudential Palms Realty McBride, Brittany: Coldwell Banker Res R E Montanez, Patricia: Zupa & Associates Piper, Patricia: Coldwell Banker Res R E Plifka, Bill: Hunt Real Estate ERA Sherman, Susan: Tarpon Coast Realty Inc. Slater, Meagan: Sunset Realty Stevenson, Jean: Coldwell Banker Res R E Stuart, Joshua: RoseBay Real Estate Inc. Switlyk, Larysa: James Buchanan Realty Tanguay, Keith: Coldwell Banker Res R E Telfair, Valerie: Michael Saunders & Company Thomas, Steve: Indigo Group Real Estate LLC Weiner, Hayley: Enright Realty Inc. Williams, Raymond: Cristello and Co. Real Estate

Now With ...

Adler, Isaac: Sandals Realty Ax, Nancy: Sandals Realty Bernet, Evelyn: Wagner Realty Bowe, Suzanne: Sandals Realty Brennan, Vincent: Waterside Realty LLC Brown, Gary Lee: Wagner Realty Brown, Catherine: York Real Estate Inc Buchanan, Waltraud: Zupa & Associates DePoris, Gene: Coldwell Banker Res R E Dillon, Lee: Michael Saunders & Company Duggan, Katherine: Jennette Properties Inc Ellwood, Marcella: Michael Saunders & Company Ellwood, Kevin: Michael Saunders & Company Feuerbach, Silvia: Wagner Realty Flood, Thomas: Zupa & Associates Flynn, Ronald: Prudential Palms Realty Fox, Jonathan: Michael Saunders & Company Gaukhman, Yuliya: Horizon Realty Girard, Dennis: Signature Sothebys Internat’l Gonzales, Valeri: Century 21 Advantage Gornnert, Gary: Wagner Realty Grenier, Nancy: Horizon Realty Gruber, Tonna: Keller Williams On The Water Haeussler, Barbara: RoseBay Real Estate Inc. Homer, Anthony: Lakewood Ranch Comm Realty LLC Horn, Maureen: Michael Saunders & Company

30

DECEMBER 2009

Howse, Jennifer: Premier Properties Huber, Mark: Prudential Palms Realty James, Michael: Michael Saunders & Company Kiesewetter, Ken: Prudential Palms Realty LaRouche, Gina: Stringer Management Inc. Lopez, Jose: RE/MAX Alliance Group Lucas, Tony: Prudential Palms Realty Malkin, John: A & B Florida Real Estate Michel, Diana: Prudential Palms Realty Murphy, Jay: Sandals Realty Nimptsch, Mary: RoseBay Real Estate Inc. Ottewell, Karen: Horizon Realty Parmer, Catheryn: Sandals Realty Pujol, Cher: Hunt Real Estate ERA Rackey, Sally: Cityscapes Int’l Realty Group Sherman, Robert: Prudential Palms Realty Shoultz, Cheryl: Keller Williams Lakewood Ranch Taboada, Ursula: Century 21 Advantage Tannenbaum, Sharon: Coffey & Company Realty Toale, Syndi: Zupa & Associates Trigg, Carol: Prudential Palms Realty Von Kessel, Brigitte: Michael Saunders & Company Von Kessel, Kristina: Michael Saunders & Company Welch, Tondodda: RE/MAX Alliance Group Werner, Allison: Andrews & Associates Realty Woodworth, Woody: Wagner Realty Zachos, David: Sandals Realty

New Affiliates Green World Home Cleaning

Address: 318 S. Washington Blvd Sarasota, FL 34236 Phone Number: 941-923-1717 Representative: Lauren Doyle Specialty: At Green World Home Cleaning in Sarasota and Manatee, we are committed to improving the quality of life in our communities. Green World Home Cleaning takes pride in offering Green nontoxic cleaning tailored to your specific home and health needs.

100% Green Cleaning. Home and Office. Voted #1 in Sarasota. Affordable pricing!

Sarasota Paint & Restoration

Address: 3047 Pinecrest Street Sarasota, FL 34239 Phone Number: 941-925-3543 Representative: James R Bartmess Specialty: Sarasota Paint & Restoration, prepares homes and businesses for sale by restoring wallpaper and tiled areas. We provide int/ext priming and latex painting for a clean bright look. Your referral will provide you the realtor with a free paint service for your own home at 50% lower cost. Call James Bartmess today.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The third annual SAR International Real Estate Congress was another big success for the area. The event attracting some major names in international real estate, including (top photo) John Tuccillo (nationally recognized real estate expert) and Lawrence Yun (NAR Chief Economist). The event attracted almost 200 participants.

International Real Estate

Congress 2009 Was A Major Success

SAR International Social slated Dec. 7th

Title: SAR International Social Date: Monday, Dec. 7, 5:30 to 7 p.m.

Location: 7527 Greystone Street, Lakewood Ranch Cost: FREE to first 100 Please join the SAR International Council Steering Committee members and Neal Communities at a free SAR International Social on Monday, Dec. 7. Hors d’oeuvres and wines from around the world will be www.sarasotarealtors.com

served. Come in international dress, if you have it!

Important: Please RSVP to Catherine@sarasotarealtors. com. Only the first 100 who RSVP will be able to attend.

Directions to International Social: I-75 to Exit 213 East, University Parkway. Follow to Lakewood Ranch Blvd. and turn left. Follow to Balmoral Woods Blvd., turn right. Follow to Greystone St., turn left. Westover Model is on the right.

Sarasota RealtorÂŽ Magazine

DECEMBER 2009

31

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

Wednesday

Thursday

Friday

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Dec. 1

2

3

4

7

8

9

10

11

14

15

16

17 8 a.m.

Power Marketing (SAR)

18

9 a.m.

MLXchange-Basic 1:30 p.m.

Entering & Updating Listings 5:30 p.m.

SAR International SocialLakewood Ranch

9 a.m.– 4 p.m.

New Member Orientation & Code of Ethics

21

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7:30 a.m.

Toastmasters 5 p.m.

SYR Social Polo Grille

9 a.m. iMAPP 1:30 p.m.

Creating a CMA

8 a.m.

CID Holiday Breakfast (Hyatt Regency) 8:30 a.m.

SFR-Short Sales & Foreclosure Certification

22

5 p.m.

Affiliate Social Clayton's Siesta Key

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8:30 a.m.

SFR-Short Sales & Foreclosure Resource Certification

7:30 a.m.

Toastmasters 9 am MLXchange Advanced 11:30 a.m.

SAR Holiday Installation & Luncheon 1:30 p.m. Design Web Pages

23

8 a.m.

Power Marketing (University Park CC)

8 a.m.

Power Marketing (SAR)

9 a.m.

CID Commercial Marketplace

9 a.m.

CID Commercial Marketplace

9 a.m.

CID Commercial Marketplace (Manatee Association of Realtors®) 9 a.m.

HUD-1 Seminar

24

25

Christmas Holiday — SAR Closed

30

31

Jan. 1

New Year’s Holiday — SAR Closed

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

My Florida Regional MLS Training

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

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

Monday

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

DECEMBER 2009