JULY 2011
The Official Monthly Publication of the Sarasota Association of Realtors速
Surviving in strong political winds See Page 6
Meet Your Proposed SAR Officers and Board of Directors for 2012 - See Page 8
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ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. *Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CGC1505166 ©2011 Pulte Home Corporation. All rights reserved. 5/11
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ND TO ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.
Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CBC057850 ©2011 Centex Homes. All rights reserved. 5/11
Contents
Sarasota Realtor® Magazine Volume 8, Issue 7 JULY 2011
Sarasota Association of Realtors®, Inc. 3590 South Tuttle Avenue Sarasota, Florida 34239 Phone: 941/923-2315 FAX: 941/923-0191 www.sarasotarealtors.com www.facebook.com/SarasotaRealtors
6
Surviving, Thriving
No one likes the thought of increasing dues, fees or taxes, but the recently adopted NAR dues increase will provide vital dollars to a new initiative that is of great importance to Realtors®.
Governmental Affairs Director Marc Mansfield explains the importance of the Realtor® Political Action Committee (RPAC), founded in 1969 to promote Realtor® issues.
Secretary Dave Swenson EXIT Creative Realty Treasurer Roger Piro Town & Country Realty Immediate Past President Erick Shumway RE/MAX Alliance Group
12 Hits and Misses
President Michael Bruno Prudential Palms Realty President-Elect Laura Benson Michael Saunders & Company
10 Support RPAC
2011 SAR Officers
The 2011 Florida Legislative session was an interesting governmental process that will have local impacts on the property appraisal process, both good and not so good.
15 Amazing Market
While some markets languished, May 2011 sales statistics
in the Sarasota market remained strong, and median sale prices jumped to their highest level of the year.
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.
Volume 8 • Issue 7 •JULY 2011
Editorial Staff
18 Stability = Prosperity
CID President Anthony Homer explains the concept of stability creating prosperity when it comes to investment in commercial real estate.
In every issue 10- Governmental Affairs 12- Property Appraiser 15- Sales and Listing Statistics 18- Commercial Investment Division 20- Education Programs 24- On the SAR Scene 27- Broker Corner 29- Global Business Council 30- Membership
JULY 2011
Director of Membership and Administrative Services Dan Andrews Director of Information Technology Jesse Sunday 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. Editorial ideas and manuscripts are welcome. Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing.
28- WCR
32- Calendar of Events/Education 4
On the Cover: You might notice a little different look and feel about the Sarasota Realtor® Magazine cover starting with this issue. We’ve redesigned the masthead, but we are keeping our new association logo, which was redesigned a year ago. We hope you like the new appearance!
Director of Communications Ray Porter
Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24! Sarasota Realtor® Magazine
2011 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.
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SAR plans membership meeting, board election The Sarasota Association of Realtors® is planning ahead for the fall General Membership Meeting, which is also the SAR Annual Meeting, set for Friday, Sept. 16 at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Road. Lunch and networking is at noon, with the meeting portion beginning at 12:20 p.m. Watch for the Weekly Update email, and check at www.sarasotarealtors.com for registration information. The SAR Nominating Committee has met to select nominees for the 2012 Officers and Board of Directors. See Page 8 of this issue for details regarding the nominees. No petitions were filed for additional nominees before the deadline of June 15th, so the current slate will be elected by voice vote on Sept. 16. In accordance with the SAR Bylaws, notice is hereby given of a proposed amendment to Article XIV, Section 3 of the Bylaws, to be voted upon at the Annual Meeting. The amendment will remove the requirement that MFR Directors from SAR be broker/owners. This change will permit any primary member of SAR who is an MLS Participant or Subscriber to serve on the MFR Board of Directors. For details of the change, visit www.sarasotarealtors.com and look under Hot Topics.
KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy
Mary Gamrot: SAR Affiliate of the Month for July 2011 Mary Gamrot of Luxury Home Magazine is the SAR Affiliate of the Month for July 2011. Mary Gamrot is the publisher of Luxury Home Magazine, “The Coffee Table Magazine” of Sarasota and Manatee Counties. Mary published the first Luxury Home Magazine in Sarasota/ Manatee in 2006. Luxury Home Magazine continues to grow both in print advertising and online, utilizing digital technology, video and Mary Gamrot social media vertical venues. Mary and her family moved to Florida from Pittsburgh, PA in 1980. Mary can be reached at 941-545-3625, or by email at Mary@LHMsrq.com. The magazine office is located at 900 N. Cocoanut Ave., Sarasota, and their web site is www. luxuryhomemagazine.com.
Call 941-366-1300 For A
FREE CONSULTATION Jefferson F. Riddell, Esq. (Board Certified Real Estate Attorney) Cynthia A. Riddell, Esq.
Riddell Law Group R L G
3400 S. Tamiami Trail, Sarasota, Florida www.rlglawfirm.com The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free, written information about our qualifications and experience.
Cover Story 6
Survival Mode
NAR ready to protect private property rights
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During difficult economic times, no one likes to see the price of anything going up. As we struggle as a nation to emerge from a tough recession, we have witnessed the cost of gasoline skyrocket, prices at the grocery store peaking, and costs of other essentials moving higher. The last thing any of us want is for our Realtor® association dues to increase. But that’s exactly what will happen next year – and for a very good reason. It comes down to the survival of the real estate profession as we know it. NAR Leadership has stood solidly behind the timing, scope, and level of funding proposed for the initiative, which was developed by a group of members appointed by 2010 NAR President Vicki Cox Golder. At the Board of Directors Meeting in May 2011, the NAR directors voted overwhelmingly to approve the program and to fund it with a dues increase. Perhaps Ron Phipps, 2011 NAR President, explained it best in his statement regarding the passage of the Realtor® Party Political Survival Initiative (RPPSI): “Earlier today, the NAR Board of Directors voted in favor of the Realtor® Party Political Survival Initiative and agreed to fund it through a dedicated dues increase of $40 per member, beginning in 2012. The initiative will allow NAR to provide millions of dollars in additional support to state and local boards, which are facing a cadre of policy proposals that would restrict private property rights and drain home owners’ pocketbooks. “As the only organization speaking on behalf of America’s home owners, NAR must remain strong and influential at all levels of government. During the past week, we have heard from dozens of industry and government leaders about the broad challenges facing our markets and the growing desire on the part of federal, state and local governments to implement policies that would hurt home owners and the economy. In passing this initiative, Realtors® send a clear message that we are ready and willing to protect the home owners and communities we serve. “On behalf of the entire organization, we thank the directors for their feedback and guidance, as we refined this initiative, and we are grateful to all Realtors® who JULY 2011
engage in an informed debate prior to this vote.” So - how will your money be spent? The new six-part Political Survival Initiative is designed to build on NAR programs already in place. Many of these are essential expansions of existing dues-based programs, while others were successfully pilot tested as part of the Second Century Initiatives, and others are identified as mission-crucial new initiatives. Four parts directly benefit state and local associations by providing direct financial support and/or services to enhance our advocacy effectiveness: Realtor® Mobilization – This includes additional resources for state and local associations for RPAC fundraising; on-line grassroots advocacy tools; RPAC management and on-line fundraising software and consultancy support; and the broker involvement program. State and Local Issues – This provides significantly increased direct financial investments and technical support to conduct cost-efficient and effective issue campaigns. Campaign Services - This provides state and local voter files to effectively target and get out the vote; survey research to identify voter attitudes and to shape campaign messaging and strategy; and consultancy support to develop and implement campaign plans. State and Local Candidates -- Each state will be allocated NAR dues funds based on a per-member formula to be used for state and local independent
Sarasota Realtor® Magazine
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expenditure campaigns. State Associations will each work out arrangements with their local associations for how the local independent expenditure funds would be shared. So, what do the “State and Local Candidates” and “State and Local Issues” programs cover? This is the new approach at the heart of the Realtor® Political Party Survival Initiative. This is the area where states or local associations that want to get involved in candidate or issue activity can come to NAR for help. NAR will have funds available so that local and state associations can support Realtor® Party candidates or engage in issues involving real estate or property rights. The final two parts of the Political Survival Initiative provide additional financial and technical resources for NAR Federal Issues and Federal Independent Expenditure Candidates campaign activity. Since the initiative was adopted, there has been quite a bit of member feedback, including the following questions and responses from NAR: Q: Why now? A: Not surprisingly, this is a complaint we’ve seen a lot. We’ve been in a rough patch for a while. Why are you doing this now, when Realtors® can barely afford it? Believe us, we know. Whether it’s from NAR or other organizations’ research, anecdotal feedback from members, or headlines in major media outlets, there has been no shortage of bad news for real estate these past few years. This decision, however, is not driven at all by economic circumstances, but rather by the fact that we’re in a political “perfect storm, as 2003 NAR President Cathy Whatley termed it. Specifically, the Supreme Court’s Citizens United v. Federal Election Commission ruling changed the game. Q: OK, what was the Citizens United v. Federal Election Commission ruling, exactly? A: Back in 2008, a conservative non-profit group called Citizens United released an anti-Hillary Clinton film with the creative title, “Hillary: The Movie.” To promote the picture, the organization ran ads on TV 30 days prior to the Democratic presidential primaries. The U.S. District Court of the District of Columbia ruled that this was in violation of the McCain-Feingold Bipartisan Campaign Reform Act of 2002. (Incidentally, Citizens United had alleged that ads that ran in 2004 for Michael Moore’s film “Fahrenheit 9/11,” which attacked the Bush Administration’s foreign policy, violated McCain-Feingold, but the FEC dismissed the complaint with the explanation that the movie was a “commercial enterprise.”) The case eventually made its way up to the Supreme Court, which in 2010 ruled 5-4 in favor of Citizens United. In the majority opinion, Justice Anthony Kennedy wrote, “If the First Amendment has any force, it prohibits Congress from fining or jailing citizens, or associations of citizens, for simply engaging in political speech.” That ruling also overturned soft money prohibition laws in 23 U.S. states. Q: So, what are the implications of that decision?
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A: Basically, it means that soft-money spigots have been turned on full blast. For a simple illustration of this, compare the total non-party committee spending tallies from the 2006 midterm elections to those of the 2010 midterms. Q: Soft money, hard money, what’s the difference? A: You hear these phrases tossed around a lot in explanations of RPPSI. Here’s what they mean, in the simplest terms possible: - Hard money: Financial contributions made directly to a candidate in a primary or general election. The sources and amounts of these funds are regulated by the Federal Election Commission and subject to limits ($5,000 contribution per candidate by a political action committee). - Soft money: Funds donated to political organizations to finance ads for candidates, against candidates, and in favor of or opposed to a specific political issue. McCain-Feingold banned national political parties from accepting these funds, but the Supreme Court’s ruling for Citizens United overturned that. Now, special interests of all sizes and persuasions can make unlimited contributions to 527 organizations and political parties, which in turn spend money on ads that boost a particular candidate or issue, but are not coordinated or approved by the candidate. Here’s how you can tell the difference: You know how you’ll hear something like, “I’m John J. Candidate, and I approve this message,” at the end of some radio or TV ads? That means it was financed with hard money. If you hear, “Paid for by Citizens Who Want to Get Rid of John J. Candidate, That Big Jerk,” that means it’s soft money. Q: Does NAR benefit from the Citizens United ruling? A: Not at all. Frankly, NAR was in a much more favorable position when soft money was more tightly controlled under McCain-Feingold. RPAC is the biggest PAC of its kind, but that’s not enough in the new political landscape. Now, the association has to compete with entities that are in a position to spend much more money. Q: Will my dues go to a candidate I don’t like? A: This is another major concern with RPPSI. The answer? Yes, your dues could possibly go toward candidates you wouldn’t support based on many of their positions. However, decisions to support candidate are not made rashly. Members of the association evaluate candidates’ stand on issues important to the real estate industry. Moreover, NAR is among the most bipartisan professional associations, and divides its political expenditures nearly evenly among Republicans and Democrats based on their positions and voting records on real estate issues. But while much of the RPPSI debate has centered around this particular issue, as a share of overall RPPSI funds, the amount that goes to campaigns for individual candidates at all levels will represent less than 30 percent of the money collected over the next five years. Much more will go to mobilization, advocacy, and campaign-coordination efforts around state, local, and federal issues that affect real estate, ranging from the mortgage interest deduction to transfer taxes.
Sarasota Realtor® Magazine
JULY 2011
7
Nominees named for 2012 SAR Board of Directors The following individuals have been nominated by the SAR Nominating Committee for positions on the 2012 SAR Board of Directors. The election will be held by voice vote at the SAR Annual Meeting on Friday, Sept. 16th at noon at Troyer’s Dutch Heritage Restaurant on Bahia Vista Street.
Officers:
2012 SAR President Laura Benson, Michael Saunders & Company Laura Benson has been an extremely active SAR leader for over 12 years, serving on various committees, including Professional Development, Grievance, Public Policy, Governmental Affairs, Finance, Nominating, and SARPAAT (RPAC’s Board of Trustees). She was the SAR 2008 Realtor® of the Year, and in 2008 led the SAR Public Policy Committee, while at the same time campaigning for election to the Florida Legislature. Laura is originally from Boston, Massachusetts, and works at Michael Saunders & Company. Her background runs the gamut of real estate - mortgage lending, construction management and real estate law. She has been an elected member of the Sarasota County School Board and stays politically active in the community. She has also served on the SAR Board of Directors, and the Florida Realtors®’ Board of Directors. Laura is a certified instructor for a NAR-required ethics course. She has also been appointed by the Florida Senate to a seat on the Century Commission for a Sustainable Florida, and is on the Board of Directors for Future Business Leaders of America-Phi Beta Lambda. and Take Stock in Children. She is a 25-year local resident, and she and her husband, Brian Meskil, along with their three children enjoy all aspects of the Sarasota community. 2012 SAR President-Elect Roger Piro, Town and Country Roger M. Piro, originally from Cleveland, Ohio, moved to Sarasota in 1978. Becoming a licensed salesman in 1994, Roger immediately joined the then Sarasota Board of Realtors® (now SAR) and began his involvement on many different committees. In 2003, Roger became a broker-associate. Roger is the Broker for Town and Country Real Estate, and was previously with CENTURY 21 Advantage for 12 years. He originally specialized in residential real estate, rising to become an award-winning sales associates. He later stepped into a management position and has been involved with
8
JULY 2011
educating and mentoring many agents, leading them to more productive careers. It was also during this time when Roger’s leadership abilities became apparent. Roger is a past chair and former member of the SAR Grievance Committee. In past years he has served on the Membership Committee, the Professional Development Committee and the Realtor®-Attorney Committee of SAR. He is currently SAR Treasurer and chairs Professional Standards. 2012 SAR Treasurer Peter Crowley, RE/MAX Alliance Group Peter Crowley, broker with the RE/MAX Alliance Group, graduated from University of Florida with a law degree and an MBA. He is a member of the Florida Bar, and also a graduate of the REAL Trends Leadership Institute. Peter is President and Broker/ Owner of RE/MAX Alliance Group. He serves as chairman of the board for Goodwill Industries Manasota, Inc. He is a current director for My Florida Regional MLS and was actively involved in the enrollment of the five southwest associations into the regional MLS. He was selected by SAR President Helen Sosso as recipient of the 2008 President’s Award. The President’s Award is personally chosen by the SAR President, and represents the person the President feels most embodies the Realtor® spirit and has contributed and supported the President and President’s goals for the year. Peter says his proudest accomplishment to date is his 15-month-old daughter, Kenley 2012 SAR Secretary Stafford Starcher, RE/MAX Alliance Group Stafford Starcher, and agent with the RE/MAX Alliance Group, is from a small North Carolina town. At an early age, he was introduced to music which set the stage of his early career as a Band Director after graduating from East Carolina University. Stafford set high goals for each student, creating a program that developed a strong sense of self-esteem and the desire to achieve at high levels. After teaching, Stafford worked in the music industry as district sales manager for a leading instrument manufacturer. He created unique marketing ideas and goals, bringing his
Sarasota Realtor® Magazine
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clients/owners increased market share and greater profits. In 1994, through a real estate transaction Stafford met Linda. Shortly thereafter they were married and Stafford obtained his real estate license. He began the process of completing many advanced educational courses to develop his real estate career. Stafford holds a Brokers License, GRI, CRS, ABR, CSP, SFR, SRES & CDPE designations. He has contributed his time and knowledge to several Committees including SAR Professional Development Committee, currently Vice Chair of the Grievance Committee and a recent graduate of the Emerging Leaders Program. In Stafford’s spare time he enjoys family time with his wife and visiting with his three boys, one daughter and one grandson. Occasionally, you might find him on the golf course. 2012 SAR Immdiate Past-President Michael Bruno, Prudential Palms Realty Originally from Milwaukee, Wisconsin, Michael Bruno spent 16 years as a retail executive in both department and discount store merchandising in Wisconsin and Connecticut. While in Connecticut, he obtained his real estate license. Shortly thereafter he relocated to Sarasota and joined the Sarasota Association of Realtors® in the spring of 1988. He is a real estate agent with Prudential Palms Realty. Mike has conducted training seminars for large and small manufacturers across the country on business development. He has served as the chairperson of the SAR Grievance and Professional Standards Committees, and has also served on the committee, as well as the RPAC and Nominating Committees for the Sarasota Association of Realtors®. Mike is recognized as a consistent top producer and believes his enthusiasm and knowledge will contribute to his future work for the Association. He currently serves as President on the SAR Board and also serves on the Florida Realtors® Board of Directors. Michael is a graduate of the Florida Realtors® Leadership Academy.
2012 Directors:
Michael Davenport, King Realty 3-year director Michael Davenport joined King Realty Associates LLC in 2007. The company was started as King Mortgage Company in 1988 by Sandy King and has operated continuosly since that date. Michael has been in the real estate industry since 1969. Michael has earned and retains several industry specific certifications and designations,
including: ABR (Accredited Buyer Representative), SFR (Short Sale & Foreclosure Resource Certification), Green, REOS (Real Estate Owned Specialist) and Zillow Five Star Premier Agent. Michael is a graduate of the Emerging Leaders Program, and has served on the SAR Professional Development Committee in 2010 and 2011. He also has extensive community and business organization involvement and leadership.
Joe C. Hembree, Hembree & Associates - 3-year director Joe C. Hembree is a licensed Commercial Real Estate Associate and Realtor® and is Vice President of Hembree & Associates, Inc. He is an active member of the CID, and specializes in the sales, leasing and property management of all types of commercial properties in the greater Sarasota - Manatee area. He currently manages over a half million square feet ranging from small office buildings, to office parks to large retail centers. Joe currently serves on SAR’s Member Benefits Committee. He is a graduate of the Emerging Leaders Program, and also serves on the My Florida Commercial Real Estate Committee. Joe is also very active in the local business community, serving on the Leadership Council of the Greater Sarasota Chamber of Commerce, and as a committee member with the Gulf Coast Builders Exchange. He also has an extensive and ongoing military background with the United States Navy. Debbie Judge, Michael Saunders & Company - 3-year director Debbie Judge is the current chair of SAR’s Communicatuions Committee. She has more than 17 years of management experience working for some of the nation’s top retailers. She is the current branch manager of the Siesta Key office of Michael Saunders & Company. Debbie, a member of SAR for the past 12 years, was a 2009 graduate of SAR’s Emerging Leaders Program, and has also served on SAR’s Vendor Data Access Committee, Florida Realtors® Communications Committee and Florida Realtors® MLS Committee. Debbie has also served for 10 years on the Magnolia Pond Homeowners Association, most of that time as the association president, and has many years of volunteer experience in the local school system.
Continued on P. 31, See NOMINEES
Governmental Affairs
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RPAC: Realtor® Business Insurance against a gathering storm
By Marc Mansfield Governmental Affairs Director
The Realtor® Political Action Committee (RPAC) is the nation’s largest, most successful and most bipartisan political action committee. Your voluntary investment is used to improve your bottom line in several ways - through issue mobilization, political advocacy and by directly supporting candidates at the local, state and federal levels of government who champion the ideals and principles of Realtors®. The purpose of Florida’s RPAC is to assist the legislative and political efforts of Florida Realtors®. To promote and strive for improvement of government by encouraging and stimulating Realtors® and others to take a more active role in governmental affairs. To encourage Realtors® and others to understand the nature and action of their government and to support candidates for election to public office at the local, state and national levels who share the view of Realtors® on issues important to the real estate industry. Only because of past RPAC investments have the Florida Realtors® been able to successfully fight off attacks on your livelihood. Your RPAC investment ensures continued success to fight off these attacks. RPAC is what stands between you and the constant threats to your business such as a sales tax on your commissions, higher taxes on your business and increasing the taxes on real estate. On a national level there is proposed legislation that would end the Mortgage Interest Deduction, require 20% down payment for a mortgage and reduce or eliminate the role of Fannie Mae and Freddie Mac. A gathering storm that would negatively impact the real estate industry and change forever the way you do business.
JULY 2011
The Realtor® Political Action Committee makes sure your voice is heard. Investing in RPAC is an investment in your business. On a state and local level, RPAC has helped to: • Protect commercial commissions through the foreclosure process; • Prohibit cities and counties from charging individual real estate agents a business license fee; • Fought and won a battle against a 100% increase in real estate transfer tax. SAR has used RPAC contributions to support or oppose the following local issues: • Oppose Sarasota County Super Majority Amendment in 2007; • Support the Civic Covenant Charter Amendment in 2008; • Support efforts to continue the School Millage Tax in 2010; • Support Florida Realtors® in their efforts to fight and defeat Amendment 4 in 2010. So, what’s in it for you? RPAC provides you with an opportunity to have a collective statewide Sarasota Realtor® Magazine
and nationwide impact on the election of officials who will shape legislation that affects your ability to do business. Of every dollar you contribute, up to 70 cents stays in Florida to support state and local candidates and issues. The remaining 30 cents goes to the national RPAC for grassroots activities and supporting candidates running for office on the federal level. When Realtor® members speak in one unified voice, it’s hard to ignore. That’s Realtor® leverage in the halls of Tallahassee and Washington, D.C. And, remember, you are not giving to the Republican Party or the Democratic Party you are giving to the Realtor® Party. Your RPAC dollars support candidates who have Realtors® best interest in mind, no matter what their party affiliation. Think of your RPAC contribution as an investment. The best investment you’ll ever make in your business and yourself. RPAC is your best insurance against poorly designed small business and real estate legislation. If you are not giving your fair share to RPAC, you’re not doing all you can to better your profession, your business and yourself.
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LWRC-206 SAR July 2012 little pic PU_Layout 1 6/17/11 11:51 AM Page 1
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Property Appraiser
2011 LEGISLATIVE SESSION – HITS AND MISSES
2011 Legislative session – hits and misses
The 2011 legislative session resulted in many significant changes for Florida. For the Property Appraiser’s office this means a new exemption and new procedures for adverse possession in 2011.
By Bill Furst, GRI, Effective immediately, a newCRS, FloridaCRB law, §196.173 F.S., grants an additional Sarasota on County tax exemption their homestead to military personnel who in 2010 were Property Appraiser deployed overseas in support of Operation Enduring Freedom, (Afghanistan) 2011 legislative session in many significant and/orThe Operation Iraqi Freedom andresulted Operation New Dawn, (bothchanges Iraq). for
t
Florida. For the Property Appraiser’s office this means a new exemption and new procedures adverseorpossession 2011. a power of attorney The servicemember, theirforspouse, a person in holding Effective immediately a new Florida law, §196.173 an for the servicemember may file the required application F.S., withgrants the Property additional tax exemption on their homestead to military personnel who in Appraiser’s office. A copy of the servicemember’s orders, listing deployment 2010 were deployed overseas in support of Operation Enduring Freedom, dates, must accompany the application. Since the law takes effect (Afghanistan) and/or Operation Iraqi Freedom and Operation New Dawn immediately, this office will accept all late filed applications up until 25 days (both Iraq). after the mailing of the TRIM notices in mid-August. For those service Thewho servicemember, their spouse, person holding tax a power of are members qualify, applications for or thea new property discount attorney for the servicemember may file the required application with the available on the Property Appraiser’s website, www.SC-PA.com and at both Property Appraiser’s office. A copy of the servicemember’s orders, listing of our office locations. Appraiser’s staff is ready answer your deployment dates, The mustProperty accompany the application. Sincetothe law takes questions. Call 941.861.8200 or email at EX@SC-PA.com effect immediately, this office will accept all late filed applications up until 25 days after the mailing of the TRIM notices in mid-August. For those servicetomembers whogoverning qualify, applications forofthe new property tax An amendment §95.18 F.S., the handling adverse possession discount are available on the Property Appraiser’s website, www.SC-PA. claims was signed into law with an effective date of July 1, 2011. This new com and at both our office locations. The notification Property Appraiser’s staffhas provision requires theof property appraiser to add that a claim is ready to answer your questions. Call 941.861.8200 or email at EX@ been filed to the property information appearing on their websites and to SC-PA.com notify owners of record that a claim has been filed against their property. In An Sarasota amendment to §95.18 F.S.,Appraiser’s governing office the handling adverse and 2010, the County Property took theofinitiative possession claims was signed into law with an effective date of July and began notifying owners of record of adverse possession claims 1, 2011. This new provision requires the property appraiser to add identifying claimed properties on our website, as described in a September, notification that a claim has been filed to the property information 2010appearing article in Sarasota Realtor Magazine. on their websites and to notify owners of record that a claim has been filed against their property. In 2010, the Sarasota County Property WhatAppraiser’s hasn’t happened, third and yearbegan in a notifying row, is owners the passage of office tookfor thethe initiative of record legislation allowing the implementation of two claimed Constitutional amendments of adverse possession claims and identifying properties on our ® website, as described in that, a September, 2010 articlebecome in Sarasota Realtor adopted by voters in 2008 when and if they effective, could meanMagazine. tax savings for qualifying property owners. What hasn’t happened, for the third year in a row, is the passage of despite legislation of two Constitutional So far, theallowing filing of the billsimplementation in 2009, 2010, and 2011 that would prohibit amendments by value votersthat in 2008 when and if they becomeor any increase in theadopted assessed mightthat, result from wind hardening effective, could improvements mean tax savingsforforreal qualifying property renewable energy property used owners. for residential So far, the filing of bills inhas 2009, 2010, andof2011 that would purposes, no despite implementing legislation made it out committee. This prohibit any assessed value that might resulttofrom wind shortcoming is a increase source in of the confusion, especially in regard renewable hardening renewable energy improvements for real Energy propertyexemption used for energy. FloridaorStatutes continue to list a Renewable residential purposes, no implementing legislation has made it out under §196.175 although this exemption was repealed when the of voters committee. This shortcoming is a source of confusion, especially in regard approved the new Constitutional provision. Removal of the outdated to renewable energy. Florida Statutes continue to list a Renewable Energy exemption fromunder the Florida Statutes requires exemption §196.175 although thislegislative exemptionaction. was repealed when the voters approved the new Constitutional provision. Removal of the The outdated Legislature has also from failedthe forFlorida the past threerequires years to enact enabling exemption Statutes legislative action. legislation, as required by the voter approved constitutional provision, The Legislature has also failed for the past three years to enact enabling providing for the assessment ofvoter working waterfront property based on legislation, as required by the approved constitutional provision, current use. for the assessment of working waterfront property based on providing current use. For more If you would benefit benefitfrom from “orphan” information, If or yousomeone or someoneyou youknow know would thesethese “orphan” amendments contact your State Representative or State Senator contact the amendments contact your State Representative or State Senator for for information on when the enabling legislation will will make it toitthe Governor’s information on when the enabling legislation make to the Property Governor’s desk. desk. Appraiser’s office at 941.861.8200.
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JULY 2011
Sarasota Realtor® Magazine
2011 Legislative Action – and Inaction Action §196.173: Implements the Deployed Military ad valorem property tax discount. §95.18: Implements changes in the procedures Property Appraiser and Tax Collectors must follow when claims of adverse possession are filed. The Legislature also enacted several measures affecting the Homestead and other exemptions and Save Our Homes. These changes require constitutional amendments that must be voted on by you and me sometime in 2012. More later. Inaction Article VII, Section 29, Florida Constitution was adopted in 2008 preventing an increase in assessed value of residential real property as the result of wind hardening or renewable energy improvements. Article VII, Section 30, Florida Constitution was also adopted in 2008, providing for the assessment of working water front property based on current use. As of the 2011 regular Legislative session no implementing legislation has been passed.
NEED A SPEAKER FOR YOUR MEETING? BILL FURST WIL COME AND TALK WITH YOUR GROUP AND ANSWER YOUR QUESTIONS. WANT MORE INFORMATION ON NAVIGATING OUR WEBSITE? OUR GIS DEPARTMENT IS AVAILABLE FOR DEMONSTRATIONS AND DISCUSSION. To make an appointment call our office at 941.861.8200 for email us at PA@SCPA.com
www.sarasotarealtors.com
J o i n t h e C lu b WCI Introduces the
6%
ax f
Commission CluB*
nd es.
by
he e
8, ng t
as
Who AlreAdy QuAlifies for 6% Commission?
• Any current actively licensed Realtor® who resides in one of the following WCI Communities, Pelican Preserve, Venetian Golf & River Club or Tiburón.
• Any Realtor® who sold a new WCI Home from July 1 – Dec. 31, 2010.
hoW CAn you QuAlify?
Sell one new WCI Home in 2011 at 4% Commission and automatically be eligible for 6% Commission on all subsequent new WCI Home sales until June 30, 2011.
AddItIonAl ProgrAm elements
• ACCess to CluB FACIlItIes – use of Club dining facilities and VIP rates for golf.**
• reCognItIon as a 6% Commission Club member in our monthly Realtor® communications.
• PrIorItY lIst stAtus – be the first to receive new product info and invitations to special events.
G? TH
S
N.
ce C-
FoRt MyeRs
239-985-1600
Homes from the mid $100s
NoRtH VeNICe
941-485-5063
Homes from the low $200s
NaPles
239-593-9199
Homes from the $700s
NaPles
239-598-2370
Homes from the $200s
WCICommunItIes.Com • 800-WCI-2290 *Contact Sales Director for complete terms & conditions of the 6% Commission Club program. The commission on each residence shall be paid at closing to applicable broker for contracts on new WCI Homes that are fully executed between January 1 and June 30, 2011. Contact Sales Director at Community Sales Center for specific closing requirements. This expires June 30, 2011, and is subject to cancellation without notice. The 2011 6% Commission Club Program cannot be combined with any other WCI commission program. The commission shall be calculated and paid in accordance with WCI’s Co-Broker Commission Program Agreement. This program is subject to the registration procedures, terms and conditions set forth in WCI’s Co-Broker Commission Agreement. **Eligibility and access to dining, club facilities and VIP Golf Rates vary by community and are subject to individual club rules and regulations. Pricing and availability subject to change without notice. All references to clubs, membership opportunities and other amenities are subject to fees, dues and availability. Void where prohibited. ©2011 WCI Communities, Inc. All rights reserved. CGC 058796
75 percent of Americans support homeownership Nearly three out of four American voters believe that it’s reasonable and appropriate for the federal government to provide tax incentives to promote homeownership, a sentiment that cuts across partisan and regional lines across the country, according to a recent poll conducted on behalf of the National Association of Home Builders (NAHB). Further, an overwhelming majority of respondents oppose eliminating the mortgage interest deduction and would be less likely to support a candidate for Congress who wants to do away with this vital tax incentive. “Despite the current housing downturn, Americans still see homeownership as a core value and key building block,” says Celinda Lake, president of Lake Research Partners, which conducted the survey along with Public Opinion Strategies. “The bottom line: The bipartisan consensus outside the Beltway is that owning a home remains an essential part of the American Dream, and voters would strongly oppose any efforts by lawmakers to increase barriers to homeownership.” Two thousand likely 2012 voters were surveyed from May 3 through May 9. Among the poll’s key findings: • 73 percent of all respondents – both owners and renters – believe the federal government should provide tax incentives to promote homeownership. This support for housing runs strong among all party affiliations, with 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreeing. • 71 percent of voters oppose proposals to eliminate the mortgage interest deduction, and 63 percent oppose efforts to reduce it. A majority also oppose eliminating the deduction for interest paid on home equity loans, ending the deduction for interest paid on a second home, limiting the deduction for those earning more than $250,000 per year or capping the deduction for homeowners with mortgages over $500,000. • By a more than two-to-one margin (57 percent to 26 percent), voters said they would be less likely to vote for a candidate who supports eliminating the mortgage interest deduction. These figures held firm across the political spectrum, with 63 percent of Republicans, 56 percent of Independents, 55 percent of Democrats and 61 percent of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction. • Even when told that getting rid of the mortgage interest deduction would help ease the federal budget deficit, 65 percent of voters opposed any proposal to abolish the housing tax provision. This strong consensus cuts across partisan lines, with 69 percent of Republicans, 69 percent of Independents and 59 percent of Democrats opposing
14
JULY 2011
eliminating the deduction. • Saving for a downpayment and closing costs is the biggest barrier to homeownership. • Among voters who are aware of proposals under consideration by Washington policymakers to raise the downpayment requirements for a home loan, 92 percent believe it will make it more difficult to buy a home. Six federal agencies are proposing a national standard to require a minimum 20 percent downpayment, which would be opposed by households most likely to be affected – mortgage holders and renters ages 18 to 54. Among voters in these age groups, 59 percent of renters and 58 percent of those holding a mortgage oppose adding that obstacle to buying a home. • 81 percent of voters agree on the need to promote policies that encourage homeownership in order to rebuild the middle class and 83 percent believe that a strong housing industry will provide more jobs and strengthen the economic health of local communities. • 75 percent of voters say that owning a home is the best long-term investment they can make. • 73 percent of voters who do not now own a home say that it is a goal of theirs to eventually buy a home. • An even greater percentage of homeowners – 95 percent – say they’re happy with their decision to own a home and believe that owning a own home is important. - 2011 Florida Realtors®
Sarasota Realtor® Magazine
www.sarasotarealtors.com
t
May numbers continue exceptional spring for Sarasota real estate market
t
The Sarasota real estate market continued its strong spring showing in May 2011, with 796 total sales reported by members of the Sarasota Association of Realtors® - the second highest total in the past six years. Only the March 2011 sales figure of 800 has been higher since the end of the real estate boom of 2003-2005. Prices for both single family homes and condos also climbed in May 2011, with the condo median sales price of $218,750 at the highest since October 2009. For single family homes, the figure in May rose to $159,000, just under the March high of $159,250, continuing the 2011 upward trend. The total available property inventory dropped to 5,010, another big decrease from last month’s level of 5,258, and once again the lowest level in the past six years. The inventory reached its apex in April 2007, when 17,089 properties were on the market. The lower inventory, combined with the higher sales rate, has now dropped the months of inventory to 5.8 months for single family homes and 7.4 months for condos, both figures the lowest since 2005. The 6 month level is traditionally a point which represents equilibrium in the market between
“Judging from the statistics, and the continuing positive word of mouth I’ve been hearing from SAR members, the Sarasota real estate market is demonstrating strength and resilience during these difficult times.” - SAR President Michael Bruno buyers and sellers. At the point when the market was at its most unbalanced in favor of buyers, in November 2008, the figures were 24 months for single family homes and an incredible 41.7 months for condos. Once the figure trends downward below 6 months, buyers are often forced to compete for properties, which generally drives prices higher. “Clearly, we’ve seen an amazing improvement in our market in the past three years,” said SAR President Michael Bruno. “We have been trending in the right direction for several months now, and we’re starting to witness a return to the point where multiple buyers bid on a particular property. As the inventory of available properties drops, competition increases for the homes for sale, and prices naturally rise. The only thing holding back even greater appreciation appears to be the high percentage of distressed properties.” Even that statistic is trending in a healthy direction, as the overall percentage of distressed sales (short sales and
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foreclosure sales) dropped to 38 percent of the May 2011 sales. That compares to 47 percent as recently as February 2011 and a high of 51 percent in November 2010. The May statistics also compare favorably to May 2010, when the $8,000 federal homebuyer tax credit initiative was helping improve local sales. The tax credit drove up spring sales last year, but this year’s numbers are strong simply on the basis of the market’s wealth of quality homes and condos. Buyers are finding tremendous values at all price ranges and are making offers. Single family home sales stood at 546 for May 2011, roughly the same as last May (539). Condo sales were at 250, about 10 percent higher than last May (227). Median sales prices for single family homes was at $159,000, a little lower than last year at this time ($169,000), but higher than last month ($155,430) and comparable to the March 2011 high of the year ($159,250). For condominiums, the median sale price hit $218,750 in May, up from $185,500 last month, and 18 percent higher than May 2010 ($184,500). Pending sales dropped to 841 after hitting a recent peak of 1,208 in March 2011, continuing to reflect the seasonal population migration north. Pending sales are properties going under contract during the month, and the statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity. Last May, pending sales were at 857. “We aren’t seeing any lingering negative issues with our local market,” explained Bruno. “Judging from the statistics, and the continuing positive word of mouth I’ve been hearing from SAR members, the Sarasota real estate market is demonstrating strength and resilience during these difficult times.”
Sarasota Realtor® Magazine
JULY 2011
15
Sarasota MLSSM Statistics - May 2011 Single Family Condo
Unit Sales 700 600 500 400 300 200 100 0 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10
Dec‐10
Jan‐11
Feb‐11
Mar‐11
Apr‐11 May‐11
Single Family
Median Sale Price
Condo
$250,000 $200,000 $150,000 $100,000 $50,000 $0 May‐10 Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10 Dec‐10
Jan‐11
Feb‐11
Mar‐11 Apr‐11 May‐11
Single Family
#Active
#Sold
%Sold
Average DOM
Median Sale Prices
Median Last 12 Months
Months Inventory
Pending Reported
%Pending
# New Listings
# Off Market
This Month
3,148
546
17.3
192
$159,000
$155,990
5.8
609
19.3
434
186
This Month Last Year
3,883
539
13.9
168
$169,000
$165,000
7.2
626
16.1
711
214
3,321
533
16.0
169
$155,430
$158,000
6.2
687
20.7
512
166
‐
2,599
‐
179
$150,000
‐
‐
3,669
‐
2,842
‐
Oct 95.2 ‐
Nov 94.8 ‐
Dec 94.1 ‐
Last Month YTD
Jan 94.4 94.5
2010 2011
Single Family – Sale Price Vs. List Price % Rates Feb 92.8 94.1
Mar 95.2 94.7
Apr 94.8 94.1
May 95.2 94.2
Jun 95.3 ‐
Jul 94.7 ‐
Aug 95.2 ‐
Sept 94.6 ‐
Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of June 10th, 2011, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse. Source: Sarasota Association of Realtors® 16
JULY 2011
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Sarasota MLSSM Statistics - May 2011 Single Family Condo
Inventory 5,000 4,000 3,000 2,000 1,000 0 May‐10 Jun‐10
Jul‐10
Aug‐10 Sep‐10
Oct‐10 Nov‐10 Dec‐10
Jan‐11
Feb‐11 Mar‐11 Apr‐11 May‐11
Single Family Condo
Pending Sales 1000 900 800 700 600 500 400 300 200 100 0 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10
Dec‐10
Jan‐11
Feb‐11
Mar‐11
Apr‐11 May‐11
Condo This Month This Month Last Year Last Month YTD
2010 2011
#Active
#Sold
%Sold
Average DOM
Median Sale Prices
Median Last 12 Months
Months of Inventory
Pending Reported
%Pending
# New Listings
# Off Market
1,862
250
13.4
228
$218,750
$160,000
7.4
232
12.4
212
211
2,211
227
10.3
213
$184,500
$192,000
9.7
231
10.4
298
209
1,937
226
11.7
230
$185,500
$160,000
8.6
272
14.0
224
197
‐
1,076
‐
214
$170,000
‐
‐
1,275
‐
1,362
‐
Oct 94.3 ‐
Nov 94.5 ‐
Dec 92.9 ‐
Jan 92.5 93.4
Condo – Sale Price Vs. List Price % Rates Feb 92.4 91.2
Mar 92.5 92.2
Apr 93.2 93.4
May 94.2 94.5
Jun 93.7 ‐
Jul 94.2 ‐
Aug 93.5 ‐
Sept 93.2 ‐
Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transactions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average number of days that sold properties were on the market before a contract was executed. Sarasota Association of Realtors® MLS www.sarasotarealtors.com
Sarasota Realtor® Magazine
JULY 2011
17
CID (Commercial Investment Division)
Stability Creates Prosperity
By Anthony Homer CID President
Headlines sell newspapers. MPG sells cars. Location sells houses. PREDICTABILITY sells investments. All the talk and analysis of key economic indicators or liquidity are no replacement for good old fashioned reliability. Everyone needs it. Our medical industry lived through it when ObamaCare sent them into uncharted territory. Stock markets get finicky when the status quo is disrupted. If there is one thing you want to know when you are about to invest millions, or even just thousands of hard earned dollars, it’s the confidence you are going to get your money back … with a return. At the least you want to know the rules aren’t going to be changed on you mid-game. Our country has always been a safe haven for international money seeking safe, solid, multi-generational returns. Those returns aren’t real sexy, they don’t make anyone rich, but they’re great hedges against inflation and allow those who have earned their wealth to keep their wealth. Every time that stability is tinkered with, we chip away at the most valuable trait of real estate - predictability. The rule of law backing up private property rights makes all this possible. The investors and developers with vision, patience and capital bring it to life. The Commercial Investment Division’s mission statement aims to preserve private property rights in the community. The CID recognizes that if we are to be a vibrant, economically diverse, sustainable job engine, property owners need to know the rules are going to be applied evenly across the board. If you haven’t familiarized yourself with proposed changes regarding the Palm Avenue overlay district
or the recent removal of administrative review for Newtown, turn to Google, or Bob Milhoan and Brad Lindberg of the Public Policy Committee. (You can Google them too.) As we work to bring new businesses and development to Sarasota, let’s keep them here for the long haul with the knowledge their investment is safe and secure. Let’s keep the decision making process out of the hands of special interest groups with antidevelopment tendencies and with the professionals we’ve hired.
2011 CID Officers & Directors Officers:
Directors:
President: Anthony Homer, LWR Commercial President-Elect: Brad Lindberg, Hembree & Associates Vice-President: Linda Emery, Michael Saunders & Co. Secretary: Diane Lee, Wagner Realty Treasurer: Tim Mapp, Mapp Realty Past President: Lee DeLieto, Jr., Michael Saunders & Co. 18
JULY 2011
Pete Skokos: Norton, Hammersley, Lopez & Skokos (1 year - 2011) David Roth: RE/MAX Alliance (2 years - 2012) Sarah Olesen: Michael Saunders & Company (2 years 2012) Bob Milhoan: Hembree & Assoc. (3 years - 2013) Lori Hellstrom: Osprey Management (3 years - 2013)
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Improving economy bodes well for commercial
The improving economy and job creation mean growing demand for commercial real estate, according to the National Association of Realtors®. Lawrence Yun, NAR chief economist, said job creation will be the biggest factor moving forward. “Job growth creates demand for commercial space, and the economy should be adding between 1.5 million and 2 million jobs annually both this year and in 2012, with the unemployment rate falling to 8.0 percent by the end of next year,” he said. “Given the minimal new supply in recent years, the rising demand means vacancy rates will be trending down in the commercial real estate sectors. Individual markets are now stabilizing and in some cases rising.” From the second quarter of this year to the second quarter of 2012, NAR forecasts vacancy rates to decline 1.0 percentage point in the office sector, 0.9 point in industrial real estate, 0.5 point in the retail sector and 1.1 percentage points in the multifamily rental market. The Society of Industrial and Office Realtors® in its SIOR Commercial Real Estate Index, an attitudinal survey of more than 360 local market experts,1 shows a firming up of market fundamentals. The SIOR index, measuring the impact of 10 variables, rose 6.8 percentage points to 57.5 in the first quarter, the highest since the fall of 2008. The Northeast and South drove improvements in market conditions. Vacancy rates are improving, but concessions continue to make it a tenant’s market. Although the SIOR index remains notably lower than a level of 100 that represents a balanced marketplace, this is the sixth consecutive quarterly improvement after almost three years of decline. The last time the index was at 100 was in the third quarter of 2007. A separate NAR commercial lending survey shows 65 percent of Realtors report lending conditions have tightened thus far in 2011, and six out of 10 failed to complete a transaction this year due to financing problems. Regional banks provide the majority of commercial loans, followed by private investors. National banks are a distant third. The multifamily sector is the only area that has clearly turned the corner, resulting in consistently falling vacancy rates and rising rents. “Solid rises in apartment rents will
force some renters to consider home ownership,” Yun said. NAR’s latest Commercial Real Estate Outlook offers projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data was provided by CBRE Econometric Advisors. Office Markets Vacancy rates in the office sector are expected to fall from 16.3 percent in the second quarter of this year to 15.3 percent in the second quarter of 2012. The markets with the lowest office vacancy rates currently are Honolulu and New York City, each with vacancies below 9 percent. Office rents are projected to rise 0.3 percent this year and another 4.3 percent in 2012. In 57 markets tracked, net absorption of office space, which includes the leasing of new space coming on the market as well as space in existing properties, is likely to be 26.6 million square feet in 2011. Industrial Markets Industrial vacancy rates are expected to decline from 13.9 percent in the current quarter to 13.0 percent in the second quarter of 2012. At present, the areas with the lowest industrial vacancy rates are Los Angeles and Salt Lake City, with vacancies in the 7 to 8 percent range. Annual industrial rent should decline 1.5 percent in 2011 before rising 2.0 percent next year. Net absorption of industrial space in 58 markets tracked is seen at 126.1 million square feet in 2011. Retail Markets Retail vacancy rates are forecast to decline from 13.1 percent in the second quarter of this year to 12.6 percent in the second quarter of 2012. Markets with the lowest retail vacancy rates currently include Honolulu; Long Island, N.Y.; and San Jose, Calif., all with vacancies below 8 percent. Average retail rent is expected to decline 1.4 percent in 2011, and then rise 0.7 percent next year. Net absorption of retail space in 53 tracked markets is projected to be 5.4 million square feet in 2011.
CID slates meetings for July 2011 CID General Membership Meeting - Tuesday, July 19th, 8:30 a.m. – SAR Auditorium Commercial Marketplace Sessions - Friday, July 1st, 9 a.m. – SAR Auditorium www.sarasotarealtors.com
- Friday, July 8th, 9 a.m. – SAR Auditorium - Friday, July 15th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, July 22nd, 9 a.m. – SAR Auditorium - Friday, July 29th, 9 a.m. – SAR Auditorium Sarasota Realtor® Magazine
JULY 2011
19
Education Programs
89 Differences seminar returns in July Title: 89 Differences: FAR-9 and FR/Bar-1 Contracts Date: Wednesday, July 6th, 9 a.m. to 12:30 p.m. Cost: SAR Members: $10; Others, $20 Instructor: David Clapp, GRI, CDPE, SFR In June 2010 a new Florida Realtors/FloridaBar-1 (FR/BAR) contract hit the market. Since that time more companies and individual agents have chosen this contract as their contract of choice. Yet, others are still using the FAR-9 as their preferred contract. As a result, ALL AGENTS need to understand both contracts and know how they will affect your Buyers and Sellers. Even though you may be using one of the two contracts most of the time, there is an excellent chance you will be involved in the negotiation of a sale that will involve the other contract, so you should be familiar with both to serve your clients better.! This class will not promote one contract over the other. Rather, it will focus on the 89 major differences between the two contracts. We will use the FR/BAR-1 standard contract and from it discuss what terms are similar to the FAR-9 and what are the 89 major differences. Also, we will look at the FR/BAR AS IS contract.
Your Instructor will be David Clapp. David has been in the real estate business full time for 33 years. He has been a real estate instructor for over 30 years, having personally taught more than 5,000 Agents, Brokers, and Managers in all aspects of the real estate business. David serves on two subcommittees at the Florida Realtors level, one pertaining to each of the contracts. Two prior classes in April and June were sold out— don’t miss this one!
What is a BPO, and how can you profit?
Title: Introduction to Broker Price Opinions Date: July 8, 11 a.m. to 3 p.m. Cost: $20 SAR Members, $30 Others (Lunch included) 4 Hours CE Credit In this timely class, you will learn: • What is a BPO • Difference between BPOs and Appraisals • Why do BPOs
• Responsibilities when doing BPOs • BPO tools and equipment • Concepts behind completing BPOs • BPO form overview • BPO photography How to grow a BPO business About the instructor: Robert Gress, an NAR instructor,
has been practicing, coaching and teaching real estate for over a decade. He has owned and operated two successful real estate brokerages and a Florida real estate school. He has four college degrees: BS in Business Management; BS in HR Management; BS in Professional Aeronautics, and an MBA. He is a licensed airplane and helicopter pilot.
HAFA and HAMP: What you need to know Title: What You Need to Know about HAFA & HAMP Date: July 18th, 1 to 2 p.m. Instructor: Anne Weintraub, Esq., Band Weintraub P.L. Free to SAR Members, $10 others By popular demand, Attorney Anne L. Weintraub, a shareholder attorney with Band Weintraub P.L. will present a second one-hour overview of the Obama administration’s loan modification program (HAMP) and its short sale program (HAFA). Because these
20
JULY 2011
programs can be a bit confusing, Anne has designed a simple outline tailored to Realtors to clear up any confusion about the programs and illustrate how they can be used to assist the Realtor and their customer with short tales. In 2009, the Treasury Department introduced the HAFA program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program took effect on April 5, 2010 and sunsets on December 31, 2012.
Sarasota Realtor® Magazine
www.sarasotarealtors.com
GRI 3 course slated in July-August in Sarasota Title: GRI 3 Dates: July 25-27 and Aug. 2-3 Cost: Realtors® $265 to July 11; $290 after Hot off the presses and all fresh material! Even if you have taken GRI 3 before, this is the latest updated information on the following subjects and will help you develop your career and give you a taste for these specialty areas: • Brokerage Management • Common Ownership • Exchanging • International Real Estate • Land, Environment & Private Property Rights • Property Management The GRI designation indicates to buyers, sellers and other
Course instructs Realtors® on senior real estate issues
real estate industry professionals that you have made the commitment to provide a high level of professional service to you clients by securing a strong educational foundation. You will start implementing what you learn immediately! Instructor: IFREC
Title: SRES (Seniors Real Estate Specialist) Dates: Oct. 11-12 Cost: SAR Member, $199; Others, $229 Adults aged 50+ represent more than 20 percent of the U.S. population. For most senior adults, the homes that they live in are their largest asset and account for most of their net worth. Completion of the Seniors Real Estate Specialist (SRES®) Designation Course is an essential step for Realtors® in understanding the distinct real estate goals, concerns, and needs of seniors today. This course looks at key differences in housing options, from age-restricted communities to age-in-place design to assisted living; applications of the Housing for Older Persons Act (HOPA); the ins and outs of reverse mortgages; the use of pensions, 401k accounts, and IRAs in real estate transactions; and developing a team of senior specialists, including estate planners, reverse mortgage lenders, clutter and staging specialists, and more. Instructor: Jim Dague
RAJC continues informative luncheon sessions in July Title: Understanding Condo and HOAs Date: July 20th, Noon to 1:30 p.m. Sponsor: Realtor-Attorney Joint Committee Cost: Free to SAR & SCBA Members; $10 others Ever wonder if the reserves for an association are adequate? Ever had trouble explaining the financials to your customer? If you have these or other questions concerning this topic, come to this noontime seminar and walk away
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with a better understanding of condo and home owner associations. This informative monthly seminar series is sponsored by the Realtor-Attorney Joint Committee. Bring your own lunch! Snacks and beverages will be provided. More of these noontime sessions will be scheduled throughout the year, enabling our members to gain valuable education while enjoying their lunch and the networking opportunity.
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Learn about resorts, second home market Title: Resort & Second Home Markets Location: Hyatt Regency Sarasota Date: Sept. 14 Cost: Only $139 (if received by Aug. 31 - after Aug. 31, $169 (if space available) Instructor: Jimmy Dague In this course, you will learn how to: • Use community resources and tourism bureaus to your advantage • Be prepared to act when laws, directly affecting your business, are scheduled to change • Make the best use of your
marketing dollars • How to handle the media— rather than it handling you • Recognize the rights and wrongs of second-homeownership and investment. If you already have one of the following designations—ABR, ALC, CCIM, CIPS, CPM, CRS, CRB, GREEN—this may be your only course requirement! To earn the RSPS certification, you must complete the Resort & SecondHome Markets Course and choose from two elective paths. The course was
recently revamped and shortened! For more details, please read all about the designation at: www.realtor.org/resorts/resorts/ requirements_rsps
SAR Emerging Leaders Program graduates 2011 class
The following members of SAR are the latest graduates of the Emerging Leaders Program. Congratulations to: Thomas J. Cristello, GRI, Cristello & Co. Real Estate Susan Goldstein, Michael Saunders & Company David M. Haas, SFR, Michael Saunders & Company Joe C. Hembree, Hembree & Associates Inc.
Jane E. Rees, AHWD, CIPS, CRS, TRC, Signature Sothebys International Ann T. Ross, ABR, CRB, CRS, GRI, PMN, SFR, TRC, Ann Ross Corp. Chandrakant “Chuck” Shah, AHWD, GRI, ePRO, Michael Saunders & Company Morris Smith, Hembree & Associates Inc.
CONGRATULATIONS! Dedication and hard work pay off!! We congratulate our members who have successfully completed the National Association of Realtors® Green Designation and the Short Sale & Foreclosure Resource Certification (SFR)!
NAR’s GREEN DESIGNATION (GREEN) Kristin Triolo
Atchley International Realty
Kirsten Suss
Eco International Real Estate
Pamela Wexler Rubin
Coldwell Banker Residential RE
Keith Kropp
FrontGate Realty
Wayne Rogers
FrontGate Realty
James P. Schmitt III
Allison James Estates & Homes
Gail Linnell Sanderson
Keller Williams Lakewood Ranch
SHORT SALE & FORECLOSURE RESOURCE CERTIFICATION (SFR) Giselle I. Sensebe Jackie L. Clemons
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KSE Realty LLC Century 21 Advantage
Award-winning printing and customer service Specializing in pocket portfolios, die-cutting and foil-stamping done in-house FSC and SFI certified to help you go green
Sarasota’s Premier Real Estate Printer 1730 Independence Blvd., Sarasota, FL 34234 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com
Sarasota Realtor® Magazine
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Use the summer to learn MLS system
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! If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR). Design Web Pages, Capture Leads July 7, 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. - Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders - Plans manager, copying and modifying the action plan - Emailing the client private webpage - Customizing email templates
MLXchange Basic July 11 or July 18, 9 a.m. to Noon Mandatory session for all new users. Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work. - Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information
Creating Custom Reports July 7, 1:30 to 3:30 p.m. This course is designed to give you the ability to personalize your own reports within MLXchange. You will learn the necessary skills to create and customize reports that help you succeed.. Report Manager - add, modify and copy reports using report editor Copy, save and customize a report, adding or removing fields, changing font style and color Selecting multiple fields for customizing font, moving or deleting fields Adding photos, map, date, time or additional fields Possible reports include: Broker’s Synopsis, Customer Synopsis, Flyers, CMA Reports and more
Entering and Updating Listings in MLXchange July 11 or July 18, 1:30 to 3:30 p.m. Mandatory class if you will be entering and updating your own listings. You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques. - Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that have specific entries in the Rules and Regulations
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Sarasota Realtor® Magazine
- Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listings iMapp - Interactive Tax and Mailing Labels July 27, 9 a.m. to Noon In this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area. - MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones - Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches MLXchange Advanced July 27, 1:30 to 4:30 p.m. Take MLXchange to the next level! In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches. - Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order - Editing favorite reports JULY 2011
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On the SAR Scene
Scholars awarded; SAR members network
Visit SAR on Facebook at www.facebook.com/SarasotaRealtors
Photos by Ray Porter, Jesse Sunday Jordan DeGraaf, Francesca Tebano and Bryan Nikla, three of the four SAR Scholarship award winners for 2011, were honored at the June 3rd SAR membership meeting (not present, due to graduation rehearsal, was awardee Emily Forrest).
More than 200 area Realtors attended the June 23rd District 13 Expo and Conference, including dozens of SAR members.
Dall Kelly, Jonathan Crain and Karen Kaplan at the May 24th WCR District Conference. 24
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Sarasota Realtor速 Magazine
Many SAR affiliates took part in the June 23rd District 13 Expo and Conference.
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Get a little sand between your toes... Leave your footprints at Medallion neighborhoods, collect $500 Gold Coins* and Enter to win a Barefoot Retreat Medallion Neighborhoods Gamble Creek Estates from the mid $100’s 4909 131st Drive E • Parrish, Florida 34219 Contact Susan or Alex 941-567-2644 River Plantation from the high $100’s 2432 129th Avenue East • Parrish, Florida 34219 Contact Connie or Austin 941-776-0777 Country Meadows from the high $100’s 836 148th Court NE • Bradenton, Florida 34212 Contact Arthur or Phil 941-747-7750 Cascades at Sarasota from the mid $200’s 6773 41st Street Circle East • Sarasota, FL 34243 Contact Holly or Jordan 941-309-3917 University Groves from the low $200’s 3611 80th Drive East • Sarasota, Florida 34243 Contact Gregg 941-448-9456 Stonewalk Preserve from the mid $200’s 19646 Cobblestone Drive • Venice, Florida 34292 Contact Celica or Angie 941-567-2658 Bobcat Trail from the high $100’s 2802 Royal Palm Dr • North Port, Florida 34288 Contact Gabe 941-429-0990 Riva Trace from the high $200’s 7515 Rio Bella Place, Sarasota, Florida 34201 Contact Gregg 941-448-9456 Mount Dora (coming soon) Mount Dora, Florida 23343 Contact Gregg 941-448-9456 Hillcrest Place from the mid $200’s 5607 NW 5th Terrace, Bradenton, Florida 34203 Contact Gregg 941-448-9456
Win a Barefoot Retreat
• Enjoy the sun and fun. Take a retreat from the chaos and leave a few footprints in the sand. Every time you visit any of our neigbhorhoods you are eligible to register to win a Barefoot Retreat at Long Boat Key Club. The more Medallion Home neighborhoods that you visit, the better your chances of winning. Plus... • Receive a $500 Gold Medallion* at each neighborhood that you visit. Redeem the coins when you sell a Medallion Home and receive $500 for each coin collected*, in addition to your commission at closing. Must present coins at time of registration. A voucher will be given for coins redeemed at signing of contract. • No more than 10 Medallions ($5000 value)* may be redeemed per sale. • *
Visit Medallion neighborhoods by 9/30/11 to register for a drawing to win a Barefoot Retreat for two to Longboat Key Club. Weekend includes accommodations, hot sandy beach, cool refreshing pool, massage at the Island Spa House, fine dining at the resort on Friday and Saturday. Leisurely breakfast in bed on Saturday. Walk into any of our models for a chance to leave your footprints in the sand. Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Must register at each location that you enter into drawing. Not valid in * combination with any other promotion. Offer ends 9/30/11. Prize valid anytime through 10/31/11.
www.MedallionHome.com
Making A Difference
SAR promotes community volunteerism Editor’s Note: Each month we feature members who are making a positive difference in our community. If you or someone you know (an SAR member) is involved in a charitable, community or civic-minded organization, or simply does individual acts of goodness or charity within the community, please let us know. Call or email Ray Porter at 328-1168 - email ray@sarasotarealtors. com, and we could feature the story in a future magazine issue.
Denise Leider was SAR’s 2007 Humanitarian of the Year. In her “spare” time, Denise has spent hundreds of hours working with Girls, Inc., an organization that helps inspire young girls and raise their self esteem and self confidence. With Girls, Inc. Denise developed a sewing club, and the girls made “Thank You” quilts to give to the various donors who help the organization. The girls thoroughly enjoyed the class, and Denise’s enthusiasm and encouragement. Denise has also worked with Habitat for Humanity,
Habitat for Humanity project continues
The SAR Habitat for Humanity home rehabilitation project heated up in May and June and continues into the summer at 2478 Huffton Circle in Kensington Woods. Five SAR work dates have now been held - the most recent on June 18th. Watch for announcements in your emails and on the web site to see how you can volunteer in July!
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helping to build homes for low-income families; the American Cancer Society; the Humane Society; Brush Up Sarasota; and the Salvation Army. If that wasn’t enough, Denise also attended NAR’s 2006 convention in New Orleans and worked in the Rebuild Project for the hurricane-battered community. For more on Denise Leider Girls, Inc., visit www. girlsincsrq.org, or call 941-366-6646. Denise Leider is just one more examples of hundreds of community-minded SAR members. Tell us your story!
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The homeowner - Teresa Dixon (a school bus driver in Sarasota) and her teen children, Casey and Joshua are working side by side with SAR members and other Habitat volunteers to complete the home rehabilitation. Teresa and her family will then sign a Habitat zerointerest mortgage and assume ownership. This is a great opportunity for SAR members to help Make A Difference! Sign up at www.sarasotahabitat. com
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By John D. Mayfield Realtor® Magazine
Put Goals in Writing
In a recent column, I offered some tips on how to establish and achieve goals for your business. Here are some more suggestions on how to accomplish your aims. Set Deadlines Your goals should have due dates. Without a date, you may procrastinate. Setting deadlines for your goals will remind you of the need to stay focused and help you work hard at achieving your dreams. Break Your Goals Into Smaller, Bite-Size Objectives Many notable authors and public speakers who focus on goal setting will tell you that breaking your goals into smaller ones is important. For example, let’s say one of your goals is to build a Web site for your real estate business. Rather than trying to have a completed, fully functional Web site by a certain date, try breaking this goal into smaller ones, such as choosing a vendor and determining your site’s architecture, with their own specific deadlines. You can apply this same concept to reaching a certain dollar production for a given period of time in your real estate career. If you want to earn a particular amount of money this year, then set smaller goals to help fuel the train down the tracks. Knock on a certain number of doors this week, contact a specific amount of people in your sphere of influence today, and so on. Along the way, remember this saying: “How do you eat an elephant? One bite at a time.”
Make Sure Goals Are Measurable
Often I will hear someone in one of my seminars tell me that they want to be a better real estate agent this year. Or, they might say their goal is to be a better parent. Those are good aspirations, but unfortunately they are goals that cannot easily be measured. How can you define or measure being a better real estate agent or parent? You can’t, so you have to structure your goal to make it measurable. If you closed X number of transactions last year, then how many transactions or how much money do you need to make this year to qualify as a better real estate pro in your mind? What new activities could you do this year with your children to become a better parent? By assigning a number to specific tasks, you now have something you can measure to determine if you made your goal or not. www.sarasotarealtors.com
Research shows that only a small percentage of people put their goals in writing. Writing your goals down is powerful and can be a huge factor in determining whether you achieve them. I love the story from the book What They Don’t Teach You at Harvard Business School. Author Mark McCormack studied the 1979 graduating class and found that only 3 percent of the class had written goals when they left Harvard. Ten years later, those 3 percent were making 10 times more money on average than the entire graduating class. McCormack concluded that their clear, precise vision on what they wanted from life after Harvard was the reason for their success.
Broker Corner
Business Toolbox: Setting and reaching goals
Read Your Goals Daily
I once heard a famous motivational speaker encourage me to read my goals the first thing in the morning and before I retired to bed at night. Reading your goals every day to remind yourself what your vision and intended destination are keeps you focused on achieving your goals.
In Closing
When I think about goals and goal setting, I’m always reminded of a story I heard years ago as a young real estate pro: Three people standing on a hilltop planned to walk down the hill and through a valley and climb a mountain in the distance. The first person said he was going to attempt the feat blindfolded. Off he went to reach the other mountain peak with his blindfold on. Unfortunately, he became lost and never made it to the destination. The second individual bragged about his attempt to reach the target by walking backwards. But he spent most of his time wandering and zigzagging about as he became disoriented by focusing on his past failures and problems. The final individual had told the group that he was not going to the other mountain peak blindfolded or even walking backwards. He raised his hand and pointed to the intended target, exclaiming, “I’m walking over there!” As you might guess, he made the destination. Finally, don’t beat yourself up if you don’t always succeed in the end. Sometimes circumstances we have no control over arise and prevent us from reaching our goals. When that happens, pick yourself up, wipe the dust off, and begin a journey toward a new set of revised goals. The important point is to always have aims, both long-term and short-term. By following this process, I am confident you will succeed in anything you set your mind to. Best of luck!
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WCR - your source for referrals By Cindi Jackson WCR President
In the Women’s Council of Realtors®, we believe that referrals are an integral part of our business plan. Our business resource meetings are a great source of building referrals in your business. We have the Performance Management Network (PMN) designation course that focuses completely on how to build your referral base. We understand that giving referrals in our business is only a by-product of effective networking. The Big Picture philosophy for referral success in your business is strategic alliance referrals. Strategic alliances are not just asking for referrals; it is about creating a “win-win” by working with your customers, other businesses and community-based civic organizations. The game plan is to involve others so that everyone benefits. Finding, establishing and developing strategic alliances and “referral partners” will effectively help you build your business. The Women’s Council of Realtors® is a network of successful, knowledgeable and professional Realtors® and business affiliates helping each other to learn, earn and grow together. Our members understand the tremendous value of building a referral network within our membership – everyday our members interact with each other by giving referrals! We invite you to attend our next business resource meeting and see for yourself how we support one another and how we take referrals and networking to the next level. We’re Ready ~ Get Ready! For membership information, please contact Mary Hellhake, V.P. of Membership, at 941-544-0763.
Upcoming WCR Business Resource Meetings Friday, July 8th, 11 a.m. “Developing Your Personal Vision” - Gail Sullivan, Author, Sarasota Yacht Club Friday, Aug. 12th, 11 a.m. – “Negotiating Strategies & Practices” - Sara Hand, Sarasota Yacht Club; Election of 2012 Officers
Wednesday, Sept. 21st – Annual Fashion Show Fete Polo Grill, Lakewood Ranch 11 a.m.-12 noon Business Networking 12 noon - 1 p.m. Business Resource Meeting - For reservations contact Linda Witt at MZWitt@aol.com - For Business Resource Meeting information contact Leslie Lauritano at leslie.lauritano@regions.com
2011 Line Officers Cindi Jackson President Exit Realty Signature Properties Cell: 941-735-0542 cindi_title@yahoo.com
Mary Hellhake Vice-President Membership Michael Saunders & Company Cell: 941-544-0763 maryhellhake@michaelsaunders.com
Carrie Starr Rummery Recording Secretary Starr Title Insurance Phone: 941-365-7827 carrie@starrtitle.net
Marianne LeBar President-Elect Michael Saunders & Company Cell: 941-650-0337
Sharyl Smith Treasurer Bank of Commerce Cell: 941-374-06302 ssmith@bankofcommercefl.com
Mary Mastro Corresponding Secretary Keller Williams Lakewood Ranch Cell: 941-586-2402 marypmastro@kw.com
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Don’t miss the 5th Annual Sarasota International Real Estate Congress, set for Sept. 14-15 at the Hyatt Regency Sarasota, 1000 Boulevard of the Arts, Sarasota, FL. This year’s Congress theme is “It’s Time to Go Global!” Attendees will be able to - Listen to the experts. - Explore new techniques, products and services. - Consider tried and tested approaches. - Receive tips to build a successful international business! This year’s Keynote Speaker will be Allan Dalton, Chief Marketing Officer, RISMedia: His address will be entitled “Real Estate’s Universal Language.” In this fast-paced and actionoriented keynote address, Dalton will convincingly convey what unites consumers and real estate professionals worldwide, both offand on-line. The former CEO of Realtor.com will share proven strategies that will help both agents and brokerages of all sizes to increase market share.
Allan Dalton Other topics will be presented by a diverse group of authoritative international brokers, builders and global marketing experts. These will include: • “The State of Real Estate in Florida” - Panel moderated by Harold Bubil, Sarasota Herald-Tribune Real Estate Editor
• “How International Brands Address the Global Market: Building Your International Network—the Easy Way” • “The Role of Technology in Your Global Business” • “Networking Best Practices” • Panel: “International Luxury Home Buyers” • Panel: “Sold! New Approaches to the Global Market” Hotel Information: A block of rooms has been reserved at a special rate for conference attendees at the Hyatt Regency Sarasota. You can call the resort toll-free at 800-233-1234 for reservations. Cutoff date for reservations is August 14. The rates are: Single or double occupancy: $99 Triple occupancy: $124 Quad occupancy: $149
Ask for the Sarasota Association of Realtors® rate. And please reserve your rooms early!
Sarasota releases flood plain information Current flood plain information may be obtained from the City of Sarasota Building, Zoning and Code Enforcement Department. They can provide the following information: • Community Number • Panel Number • FIRM Suffix • Date of the FIRM’s Index • The FIRM Zone (e.g. “A,” “C,” “V,” etc.) • Base Flood Elevation (BFE) • Copies of Elevation Certificates for those structures that have been required to provide them. www.sarasotarealtors.com
International Real Estate
‘It’s Time to Go Global’: Congress on tap
Federal law requires that a flood insurance policy be obtained as a condition of a federally backed mortgage or loan on properties in special flood hazard areas (SFHA). There is a 30-day waiting period before a flood insurance policy takes effect. City of Sarasota officials are prepared to meet and discuss any flood plain related questions or problems you may encounter. You can reach the department by calling 941-954-4127 or by writing to: City of Sarasota, Attention: Zoning Division, P.O. Box 1058, Sarasota, FL 34230-1058. Please visit www.sarasotagov.com for more information.
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Membership News
The Association is pleased to welcome new members!
Designated Realtors®
Cerene, Michel: Innetco Realty Govic, Ann Marie: Civog Realty Jonas, Michael: ARC Realty Advisors Latino, John: Suncoast Premier Realty Serv Lindsay, Teresa: Lindsay Leasing LLC Murray, Hubert: Exit Realty Signature Prop Rogers, Lisa: Lisa Rogers Cert Res Appraiser Svilokos, Paul: Sanderling Real Estate Zoller, Daniel: Starz Real Estate LLC
New Members
Arnold, Richard: Mapp Realty & Investment Comp. Blasz-Achtyl, Mildred: Prudential Palms Realty Botts, Beverly: Coldwell Banker Res R E Buice, John: Keller Williams Lakewood Ranch Bullington, Sarah: Market America Realty & Invest. Collier, Vicki: Coldwell Banker Res R E Davis, Patrice: Exit King Realty Foley, Craig: Sandals Realty of Sarasota Gonzales, Jackie: EXIT Creative Realty Holbrook, Rita: Michael Saunders & Company Holmes, Pamela: Florida Gulfside Properties Klepser, Sherrie: Sanderling Real Estate Knight, Betty: Michael Saunders & Company Kurtz, Alice: Amtrade Realty International Lagocki, Reintraud: Coldwell Banker Res R E Litsky, Jonathan: Michael Saunders & Company Lupia, Timothy: RE/MAX Tropical Sands Lystad, Henry: Michael Saunders & Company Masseo, Therese: Charlesworth Realty Menke, Christopher: NAI Manasota Monsky, Marie: Michael Saunders & Company Mozzone, Linda: Beachside Resorts Inc. Nevadomski, Deborah: Signature Sothebys Internat’l Phelps, Susan: Nextage Lighthouse Realty Phillips, A. Craig: NXT Generation Real Estate FL Reece, Dale: Amtrade Realty International Saah, Shane: Michael Saunders & Company Schlossberg, Lori: Engel & Voelkers Anna Maria Souza, Antone: Coldwell Banker Res R E Thompson, Karen: Allison James Estates & Homes Troche, Kelly: Mapp Realty & Investment Comp. Watts, Pamela: Coldwell Banker Res R E
Now With ...
Allen, Sania: Michael Saunders & Company Bird, Victoria: Capital Real Estate Enterprise Brice, Philippe: RoseBay Real Estate Inc. Byrd, Sharon: Keller Williams On The Water Clouser, Patricia: Key Solutions Real Estate Grp Cunha, Maralilian: Keller Williams Lakewood Ranch Doyle, Faye: Coldwell Banker Res R E Ford-Coates, David: James Buchanan Realty Grandle, Ruth: Realty Services Inc. Grisalez, Rocio: Century 21 Advantage Hament, Livya: Coldwell Banker Res R E Kasper, Sharon: Sandals Realty of Sarasota Long, Francis: Coldwell Banker Res R E Love, Debbie: Keller Williams Rlty Manatee
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Ludewig, Carl: Horizon Realty International Murray, Hubert: Exit Realty Signature Prop Najmy, Barbara: Starz Real Estate LLC Padula, Norman: Signature Sothebys Internat’l Padula, Sandra: Signature Sothebys Internat’l Parisi, Daryl: Parisi Sam J Lic R E Broker Perez, Beverly: Coldwell Banker Res R E Reed, Gabriel: Sarasota Foreclosures.com Inc. Rogers, Lisa: Lisa Rogers Cert Res Appraiser Scharoun, Tammy: Sandals Realty of Sarasota Shah, Chandrakant: Michael Saunders & Company Sherry, Eugene: Keller Williams Lakewood Ranch Spencer, M. Scott: Michael Saunders & Company Stevens, Leslie: Horizon Realty International Svilokos, Paul: Sanderling Real Estate Webb, Vicki: Coldwell Banker Res R E Wilkerson, Patricia: Coldwell Banker Res R E
New Affiliates 2020inspections
P O Box 19884 Sarasota, FL 34276-2884 Phone Number: 941-926-9130 Representative: Jose Colon Specialty: Since 1998 2020inspections has provided building/home inspections for the timely discovery of potential risk hazards, thermal imaging, water intrusion detection and diagnostic in order to resolve unforeseen circumstances quickly and efficiently. Email: INFO@2020inspections.net
Exclusive Kitchens & More
8405 Honore Avenue University Park, FL 34201 Phone Number: 941-360-0904 Representative: Alex Gardner Specialty: We offer full Kitchen & Bathroom Renovations, We offer Granite Fabrication & Installation. Our extensive collection of floor coverings, kitchen cabinets and stone countertops caters to all Sarasota-Bradenton budgets. Carpet, Tile, Laminate, Wood, or Stone. Email: alex@exclusivekitchensandmore.com
Major-Minor Home Inspections
3507 Fairview Drive Sarasota, FL 34239 Phone Number: 941-925-7400 Representative: Russell J Smith Specialty: Whether you’re buying or selling a home, having a professional home inspection from a leading home inspection company will give you peace of mind and assist you in a fair and smooth transaction. MajorMinor Home Inspections is the premier home inspection company in the Sarasota and Manatee area. We have been trusted by home buyers to help them make informed buying decisions. We take great pride in every inspection we perform. Home Inspector License HI26. Email: RussSrq@yahoo.com
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NOMINEES
Bob Milhoan, Hembree & Associates - 2-year director Bob Milhoan became licensed in real estate in March 2003 after Kristin Triolo, Atchley a career which included work as a International Realty - 3-year print reporter, television reporter, director advertising manager and marketing Kristin Triolo is the current chair director. He has been with Hembree of the SAR Global Business Council & Associates for the past five years. and a member of SAR’s Professional Development Committee. She has Bob is the current chair of SAR’s been an active local real estate agent Public Policy Committee. He has since 2003, presently with Atchley served on the committee for many International Realty. years, and was also on the Non-Dues Kristin graduated from the Revenue Task Force in 2009. Bob also worked on SAR’s Emerging Leaders Program, and has “Get Out the Vote” initiative and participated in all the served on various SAR committees, SAR phone banks in 2008 and 2010 to help increase voter including the International Council turnout.” Steering Committee, Technology Expo Subcommittee, FR’s As a member of the steering committee for the Greater Global Business Committee, and FR’s Global Networking Sarasota Chamber of Commerce - Economic Development Forum Committee. Council, Bob also participated in the effort to pass last year’s In her capacity with SAR’s international effort, she was Sarasota County Tax Abatement issue. instrumental in helping to form the new SAR Global Business Council, and convert the group to a member-only status. Kristin’s specialty areas include Florida’s Gulf Coast, Central Bob Stanley, Coldwell Banker and South America, the Caribbean Islands and Europe for 2-year director Bob Stanley has served the residential and commercial sales. residential real estate industry for She has earned many designations, including AHWD more than 40 years, and is the (At Home With Diversity) , CIPS (Certified International current manager of the Longboat Property Specialist), CRS (Certified Residential Specialist), Key branch office of Coldwell e-PRO, GRI (Graduate, Realtor Institute), RSPS (Resort Banker. From his early days of and Second Home Property Specialist), SFR (Short Sales selling, to managing a branch & Foreclosure Resource)and TRC (Transnational Referral office, to running companies with Certification). as many as sixty branch offices, Bob brings marketing/coaching/ development experience in a variety Amy Worth-Paul, RE/MAX of markets and market conditions. Platinum Realty - 3-year director Amy Worth-Paul is a Broker Bob has served on the SAR Professional Standards Associate with RE/MAX Platinum Committee, Finance Committee and Grievance Committee. Realty, and is a 2011 graduate of He also served in the Cincinnati, Ohio area on association SAR’s Emerging Leaders Program. committees for MLS and RPAC. Bob is also active in Habitat for Humanity and the Cystic Fibrosis Foundation. Amy joined SAR in 1992, and has served in various capacities with the Women’s Council of The new board members, if elected, will join current Realtors®. She served as president SAR directors whose terms continue in 2012: of the organization in 2005. She Adam Chicoine, Michael Saunders & Company; David has also been WCR’s Florida State Clapp, RE/MAX Alliance; Bryan Guentner, RE/MAX Chapter Vice President, WCR’s Platinum; Anthony Homer, Lakewood Ranch Commercial National Leadership Development Realty; Christina Pitchford, Allen Real Estate; Carla Rayman, and Influence Forum Chair, WCR’s Leadership Academy Prudential Palms Realty; Drayton Saunders, Michael Saunders Facilitator, and chair of WCR’s Sarasota Chapter Finance & Company; and Mary Smedley, Prudential Palms Realty. and Budget Committee. SAR invites all members to register for the annual meeting in Amy served on the SAR Member Benefits Committee September, to be held at Troyer’s Dutch Heritage Restaurant. in 2010. She has earned the TRC (Transnational Referrral Registration will be available online in August. Certification). From Page 9
www.sarasotarealtors.com
Sarasota Realtor® Magazine
JULY 2011
31
PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451
JULY 2011
250 200 150 100
E DUCATION & E VENTS C ALENDAR
50 0
Monday June 27
Tuesday
Wednesday 29
28
12 p.m. PC’s vs. MAC’s (Young Realtors® Event)
9 a.m. How to Reduce Your Online Risk
Thursday 30
8 a.m. Power Marketing (SAR)
Friday July 1
9 a.m. CID Commercial Marketplace
900 800 700 600 500
Independence Day SAR Closed
11
9 a.m.– 4 p.m. New Member Orientation 9 a.m. MLXchange Basic 1:30 p.m. Entering & Updating
5
6
7:30 a.m. Toastmasters 9 a.m. Contracts Comparison
12
13
7
8 a.m. Power Marketing (University Park CC) 9 a.m. Design Web Pages 1:30 p.m. Custom Reports
14
9 a.m. Advanced MLX 1:30 p.m. Design Web Pages
8 a.m. Power Marketing (SAR)
9 a.m. CID Commercial Marketplace 11 a.m. Intro to BPOs (4 hrs CE)
20
21
8 a.m. Power Marketing (SAR) 10 a.m. Photographer
9 a.m. CID Commercial Marketplace
25
26
27
28
29
8 a.m. GRI 3
8 a.m. GRI 3 5 to 7:30 p.m. Affiliate Networking Gecko’s
7:30 a.m. Toastmasters 12 p.m. Condo/HOA Update
8 a.m. GRI 3 9 a.m. iMapp 1:30 p.m. MLXchange Advanced
8 a.m. Power Marketing (SAR)
100 0
18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0
22
9 a.m. CID Commercial Marketplace
Note: All events/classes are at SAR, except where noted
My Florida Regional MLS Training
200
9 a.m. CID Commercial Marketplace - Off Site
19
8:30 a.m. CID General Membership
300
15
18
9 a.m. MLXchange Basic 1 p.m. HAFA/HAMP Seminar 1:30 p.m. MLXchange Entering & Updating Listings
400
8
The classes E & U (Entering & Updating), Tools, Design Web Pages, MLX Intro, MLX Advanced, iMAPP, Custom Reports and CMA are all My Florida Regional MLS training classes offered at no cost to MLS participants. All classes (except E & U) are HANDS-ON in the SAR Tech Center. Please register for all MLS classes at the MFRMLS website: http://mfrmls.com. Click on Education and Training.
Sarasota Association of Realtors®, Inc. 3590 S. Tuttle Ave. Sarasota, FL 34239
4
Condo
250 200 150 100 50 0 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10
Dec‐10
Jan‐11
Feb‐11
Mar‐11
Apr‐11 May‐11
Single Family Condo
New Listings 900 800 700 600 500 400 300 200 100 0 May‐10 Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10
Dec‐10
Jan‐11
Months of Inventory
18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 May‐10 Jun‐10
Jul‐10
Aug‐10
Sep‐10
Oct‐10
Nov‐10 Dec‐10
Sales Volume $200,000,000 $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0
Jan‐11
Feb‐11 Mar‐11
Apr‐11 May‐11
Single Family Condo
Feb‐11 Mar‐11 Apr‐11 May‐11 Single Family Condo
Sarasota Association of Realtors® MLS
May‐10 Jun‐10
Jul‐10 Aug‐10 Sep‐10 Oct‐10 Nov‐10 Dec‐10 Jan‐11 Feb‐11 Mar‐11 Apr‐11 May‐11
The Xtra Pages - Digital Version Only
Single Family
Days on Market
First Quarter 2011 Report Single Family Sales ‐ By Quarter
REO
Short
Arm's Length
1000 800 600 400 200 0 2008‐Q3
2008‐Q4
2009‐Q1
2009‐Q2
2009‐Q3
2009‐Q4
2010‐Q1
2010‐Q2
2010‐Q3
2010‐Q4
* Homebuyer Tax Credit In Effect
Condo Sales ‐ By Quarter
REO
Short
2011‐Q1
Arm's Length
500 400 300 200 100 0 2008‐Q3
2008‐Q4
2009‐Q1
2009‐Q2
2009‐Q3
2009‐Q4
2010‐Q1
2010‐Q2
2010‐Q3
2010‐Q4
2011‐Q1
* Homebuyer Tax Credit In Effect
Single Family Median Sale Price
REO
Short
Arm's Length
$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2008‐3rdQ
2008‐4thQ
2009‐1stQ
2009‐2ndQ
2009‐3rdQ
2009‐4thQ
2010‐Q1
Condo Median Sale Price
2010‐Q2
REO
2010‐Q3
Short
2010‐Q4
2011‐Q1
Arm's Length
$350,000 $300,000 $250,000 $200,000 $150,000
Source: Sarasota Association of Realtors®
$100,000 $50,000 $0 2008‐3rdQ
2008‐4thQ
2009‐1stQ
2009‐2ndQ
2009‐3rdQ
2009‐4thQ
2010‐Q1
2010‐Q2
2010‐Q3
2010‐Q4
2011‐Q1
Single Family Condo
REO Sales ‐ By Quarter 600 500 400 300 200 100 0
2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1 * Homebuyer Tax Credit In Effect Single Family
Short Sales ‐ By Quarter
Condo
400 350 300 250 200 150 100 50 0 2008‐Q3
2008‐Q4
2009‐Q1
2009‐Q2
2009‐Q3
2009‐Q4
2010‐Q1
2010‐Q2
2010‐Q3
2010‐Q4
2011‐Q1
* Homebuyer Tax Credit In Effect
Arm's Length Sales ‐ By Quarter
Single Family Condo
1000 800 600 400 200 0 2008‐Q3
2008‐Q4
2009‐Q1
2009‐Q2
2009‐Q3
2009‐Q4
2010‐Q1
2010‐Q2
2010‐Q3
2010‐Q4
2011‐Q1
* Homebuyer Tax Credit In Effect
Source: Sarasota Association of Realtors®
Annual Sales ‐ 2000 to 2010 Single Family Single Family
Condo
Total
11267 10562 9697 8167 7603
7,596 7036
6533
6,841
6 504 6,504
6358
5,603
6739 6042
5,183
4,940 4,353
4,349 3,193 2,184
3 721 3,721
3 671 3,671
2,564
2,096
5820
2,005
4,626 3,922 ,
2,137
2,120 1,194
2000
2001
2002
2003
2004
2005
2006
5,466
2007
2008
1,556
2009
2010
Annual Median Sale Price ‐ 2000 to 2010 Condo
Single Family
$351,000
$342,000
$272,500 $305,000
$226,000 $172,500
$132,300
2000
$303,000
$210,000 $163,000
$230,000
$191,000
$142,000
$320,000
$301,225
$225,000
$191,000
$336,250
$173,000 $160,000
$145,000
2001
2002
2003
2004
2005
2006
2007
2008
2009
$163,000
2010