APRIL 2010
Helping Hands Volunteers are the life blood of successful communities Page 6
America’s Builder is Moving To Town!
4% CO-OP 1% BONUS PlUS
*
50 % Off 1 Cov eR ed BR idGe
5 LeGen ds Bay
HOMeSiTe PreMiUM
+ $ 5,000
9 oa k v ista s
Single-family homes From the mid $100s
Single-family homes From the mid $300s
Single-family homes From the low $200s
2 oLd ta MPa estat es
6 wa Lk eR’ s Cov e at R i v eR PL aCe Single-family homes From the mid $200s
10 R ed H aw k R eseRv e
Single-family homes From the low $300s
3 Ry e w iLdeR n ess estat es
7 R eGent Lake
11 L a n dM a R k estat es
Single-family homes From the upper $100s
Single-family homes From the upper $100s
Single-family homes From the low $300s
4 GR e y H aw k L a n di nG
8 PH iLLiPPi Pin es
Single-family homes From the upper $100s
iN DeSigN OPTiONS! **
Single-family homes From the low $300s
Single-family homes From the low $300s
CGC1513647 Locations are approximate and not to scale. Prices, plans, incentives and availability are subject to change without notice. Prices are valid through 06/30/10. *4% Realtor Co-op is subject to change without notice. Homes must be sold and closed on or before 06/30/10 to be eligible for 1% Realtor Bonus. 1% Bonus will be paid at closing. Please contact a Sales Associate for details. **On homes sold by 06/30/10. See Sales Associate for details. ***Federal tax credit of up to $8,000 available to first-time homebuyers (or up to $6,500 for repeat buyers) who close escrow on or before April 30, 2010 (or before July 1, 2010 if a binding contract is signed by April 30, 2010). Income limitations apply. Amount of tax credit, if any, is not paid to buyer upon close of escrow. Buyer must claim the tax credit on buyer’s federal income tax return. Not all buyers will qualify. This information is provided for general guidance only and does not constitute tax advice. Please consult an accountant or attorney for your particular situation. Visit www.federalhousingtaxcredit.com for complete details. ©2010 DR Horton, Inc. All rights reserved.
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Contents
Sarasota Realtor® Volume 7, Issue 4 APRIL 2010
Sarasota Association of Realtors®, Inc.
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3590 South Tuttle Avenue Sarasota, Florida 34239 Phone: 941/923-2315 FAX: 941/923-0191 www.sarasotarealtors.com
Giving Back A community can be graded by the level of volunteer participation among the populace, and over the years, SAR members have met the challenge in the Sarasota area.
10 Legislative Process
What does it take to get a piece of legislation through Congress? There are numerous steps in the political process, which can be very complicated.
12 Splitting, Combining
Real estate practitioners need to be aware of the benefits and potential problems involved in splitting or combining property, and their implications.
15 Property Sales Surge!
February 2010 continued the trend toward higher property sales in the Sarasota market, with a 49 percent increase over last February.
Volume 7 • Issue 4 • APRIL 2010
18 Bank Stimulus Needed?
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Lack of financing is one of the frustrating challenges the commercial sector faces in 2010 - is a stimulus needed?
Secretary Roger Piro Town & Country Realty Treasurer Laura Benson Michael Saunders & Company Immediate Past President William Geller RE/MAX Platinum Realty Chief Executive Officer Kathy Roberts Mission Statement The mission of the Sarasota Association of Realtors® is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics. We are committed to be the leading advocate of real estate in the communities we serve by protecting private property rights and expanding relationships with individuals and organizations both locally and worldwide. Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc. Editorial Staff Director of Communications Ray Porter Director of Member Services Dan Andrews
Governmental Affairs Director Marc Mansfield
12- Property Appraiser Visit SAR on Facebook at www.facebook.com/SarasotaRealtors
18- Commercial Investment Division 20- Education Programs
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.
25- On the SAR Scene 27- Broker Corner 28- WCR News
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.
29- International 30- Membership News
2010 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.
32- Calendar of Events/Education
APRIL 2010
President-Elect Michael Bruno Prudential Palms Realty
Director of Professional Development Catherine McCaskill
10- Governmental Affairs
15- Sales and Listing Statistics
President Erick Shumway RE/MAX Alliance Group
Director of MLS Information Systems Jesse Sunday
In every issue 14- Ethics in Action
2010 Officers
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Health care reform: What it means to Realtors®
For years the National Association of Realtors® has worked with Congress to address the growing need for reforms to our nation’s health insurance system. As independent contractors and small business owners, Realtors® know first-hand the rising cost of insurance coverage and the difficulty in obtaining it. In fact, member surveys show that 28 percent of Realtors® are currently uninsured, with many more underinsured. The health reform legislation that passed the US House of Representatives on Sunday, March 21, 2010 would make major changes to many aspects of our health care system.
NAR is keeping close watch on how these comprehensive changes will ultimately impact the real estate community. America’s health care system is incredibly complicated and complex. Thus, so are many of the changes in the bill the House has passed. NAR did not support or oppose the legislation that was passed in the House. Instead, NAR chose to work with members of Congress from both sides of the aisle to address as many concerns of our members as possible while also guarding against real estate tax provisions being used as a major way to pay for some of these changes. Visit www.realtor.org/HealthReform for the latest news!
Membership Luncheon highlights Habitat for Humanity SAR’s first Quarterly Membership Meeting & Luncheon on March 12th was well attended at Pine Shores Community Center. The meeting featured a presentation by Fred Scheerle, Director of Family Services for Habitat for Humanity Sarasota, who spoke about the great work they’re doing. In addition, 11 Realtor® Emeritus awardees were recognized at the event (see P. 24). Habitat is the primary SAR partner this year for Community Outreach projects. The first project was held on March 6th and involved a home in Lockwood Meadows now under construction as part of the federal Neighborhood Stabilization Program. Twelve members of SAR responded to calls for volunteer help and participated in landscaping, plus pressure-washing of the subdivision wall. The next Quarterly Meeting is set for Friday, July 16th at Troyer’s Dutch Heritage restaurant.
SAR President Erick Shumway with Fred Scheerle of Habitat Sarasota.
Doug Mackenzie is SAR Affiliate of the Month for April 2010 The March 2010 SAR Affiliate of the Month is Doug Mackenzie. Doug MacKenzie moved to Sarasota in July 2005 to follow his wife who had just been named CEO of Sarasota Memorial Hospital. Doug initially started a company called Sarasota Home Checkers, but in April 2006 merged his company with Key Concierge. Doug brings an extensive business background in the construction and technology field to the table. As an account executive for Key Concierge Doug manages both single family homes and condos. He can be reached at 941-388-2611, or by email at: doug@keyconcierge.com. The business address is: PO Box 8807, Longboat Key, Fl. 34228. Doug MacKenzie www.sarasotarealtors.com
Sarasota Realtor® Magazine
APRIL 2010
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Cover Story 6
Spirit of Giving
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Realtors® make a positive difference in the Sarasota community Volunteerism is at the heart of every great community, or organization. The selfless spirit of giving, of putting aside personal gain for the sake of the community, makes the difference between a money-making venture and a true partner in the greater good. It is what defines us as a people, or an individual.
breath of life in these troubled times. Many other projects are planned throughout the year, and the Committee is always looking for additional members to help spread the word, and Sarasota has always been recommend additional known as a place where real estate-related projects neighbors help neighbors to the group. through difficult times. The current chair of The recent news of the the committee is Michael Community Foundation’s Cochrane of Prudential successful fundraising Palms Realty. He can be drive, which collected an reached at 926-7000. unbelievable $1.5 million during a down economy, just Other current members underscored the obvious of the committee are Sarasota cares! Michael Bruno, also of Prudential Palms; Doug At the Sarasota Association Nelson of Coldwell of Realtors®, this spirit Michael Bruno of the Community Outreach Banker; Elaine Adair Committee pressure-washes the wall of the of giving is alive and well, of Prudential Palms; Lockwood Meadows subdivision. reflected in the many Michelle Crabtree of charitable activities of our Michael Saunders & individual members, local brokerages, affiliate businesses Company; Cindi Jackson of Exit Realty; Hylda Fenton and partner organizations. of Innovative Agent Services; and Sandy McCourtney The SAR Community Outreach Committee is the of RE/MAX Tropical Sands. organizing force behind the Association’s projects. Every The SAR Strategic Plan calls for the involvement of 30 year, the group takes on the task of assembling our members to assist with several projects of a community percent of our members in charitable projects this year. nature. This year, the emphasis is on partnerships with By putting together a project list with specific dates, Habitat for Humanity Sarasota, and the Friendship the committee hopes to be able to attract additional involvement in 2010 and beyond. Volunteer Center. This is the current project list, which will be updated The first project promoted by the committee was a in the magazine, the web site, on Facebook, and through Lockwood Meadows home which is under renovation e-mail blasts throughout the year. through Habitat for Humanity. On March 6th, committee leaders and a few SAR members gathered to Please take the opportunity to save this list in landscape the lot, and also pressure-wash the subdivision your computer, and save the dates on your calendar. wall in preparation for repairs and painting. The home Remember - OPPORTUNITY IS KNOCKING, and had been a foreclosure and will soon be occupied by a it’s time to answer the call! new family, helping to give the community a second It is one of the most beautiful compensations of life, that no man can sincerely try to help another without helping himself. - Ralph Waldo Emerson
APRIL 2010
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Top, Kay Culliton and Doug Nelson shovel landscaping stones at the March 6th project. At right, Hylda Fenton and Elaine Adair transport the stones to the yard.
DATES FOR 2010 SAR COMMUNITY - Saturday, Dec. 4th - Partnering with Habitat for Humanity Sarasota (morning), followed by afternoon OUTREACH PROJECTS Volunteer Appreciation Event
- Saturday, April 17th - Partnering with Friendship Volunteer Center (details to come) - Saturday, May 22nd - Partnering with Habitat for Humanity Sarasota (details to come) - Saturday, Aug. 7th - Partnering with Keep Sarasota Beautiful - morning BEACH CLEANUP! - Saturday, Oct. 23 - Annual Make A Difference Day, and Brush Up Sarasota (various projects)
www.sarasotarealtors.com
If you have any questions concerning the Habitat projects or any other SAR community projects, please contact Ray Porter at SAR (328-1168) or the Habitat front desk, 365-0700 or Email: volunteer@ sarasotahabitat.com You may also contact Janet Pederson, Director of Volunteer Operations (941) 365-0700 ext. 118 Email: jpederson@sarasotahabitat.com
Sarasota Realtor速 Magazine
APRIL 2010
7
SAR promotes Florida Realtors® Open House Weekend This month on the weekend of April 10 and 11, more than 50,000 balloons bearing the Realtor® logo will be floating above mailboxes across the state, luring prospective buyers to thousands of Realtor® Open Houses. It’s part of the Florida Open House Weekend, and SAR is participating. “It’s a home shopper’s dream,” said Florida Realtors® 2010 President Wendell Davis. “For the serious buyer, the opportunity to tour dozens of homes in one weekend is a real time saver. Others who didn’t think they could afford a home may be drawn into the market by affordable prices and low interest rates. It’s a win-win!” To help SAR promote the open houses, Florida Realtors® has purchased balloons featuring the Realtor “R” and created two eye-catching event logos: one for Realtor® to Realtor® communications and one for Realtor® to consumer communications, both available at: floridarealtors.org/openhouse.
The balloons are now being distributed by SAR, which was allocated 1,500 to disburse to our members. They are available at the front desk, at Power Marketing sessions, and also at major brokerages. SAR requests that three balloons be flown at every open house on April 10-11th!
City 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. 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 954-4127 or by writing to: City of Sarasota, Attention: Zoning Division, P.O. Box 1058, Sarasota, FL 34230-1058. Visit www.sarasotagov.com for more information.
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APRIL 2010
Join SAR at the Florida Legislature’s 2010 Great American Realtor® Days, April 6-7! This yearly event in Tallahassee brings together Key Contacts and Florida Realtors® who want legislators to hear the collective voice of the Realtor® community.
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Watch out for creative flipping
Editor’s Note: This update is brought to you by the SAR Realtor-Attorney Joint Committee. This month’s column is provided by Julie Horstkamp, Esq., of Berlin-Patten, PLLC.
Watch out for the creative short sale flip transactions. Each use some type of vehicle, such as the use/creation of a trust, land trust, limited liability company, or option arrangement, and essentially involve two (2) transactions wherein the seller sells/ conveys the property or the beneficial/ ownership interest in some type of trust/entity to the buyer/investor (“Flipper”) (the “Initial Transaction”) and Flipper subsequently conveys the same property/interest to the eventual third party Buyer (“Ultimate Buyer”) for a profit (the “Flip Transaction”). Unless both transactions are fully disclosed to all parties involved in both transactions, including but not limited to, Short Sale Lender(s) and Ultimate Buyer’s Lender, each transaction has the
potential to conceal: (a) from the seller and/or the seller’s lender the details of the final or “true” sales price associated with the Flip Transaction, and/or: (b) from the ultimate buyer and lender,
the details of the Initial Sale all of which poses a significant risk for real estate agents involved in these transactions. These transactions are each designed to minimize the initial sales price in an effort to ultimately sell (or flip) the property to a buyer who is willing to pay more for the property. If you cannot justify to your seller why you are encouraging the seller to sell the property for an amount less than what you think (or worse yet, know) the property can actually be sold for, you are running the risk of significant legal liability, especially if you are encouraging the seller to allow the Flipper to negotiate the short sale with Seller’s lender(s). We urge you to contact a lawyer if you are presented with one of these transactions to address the potential risks and make sure there’s proper disclosure.
Governmental Affairs 10
Congress: Legislative process decides issues
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By Marc Mansfield Governmental Affairs Director The chief function of Congress is making laws. There are many aspects and variations of this process.
As a result of the current debate on Health Care and other proposed legislation, the process Congress utilizes to pass legislation has come under scrutiny by the media and general public. To help you better understand how the system works, a brief overview of the legislative process within the House of Representatives is shown below. (Thanks to the House of Representatives for providing this summary).
Forms of Congressional Action: The work of Congress is initiated by the introduction of a proposal in one of four forms: the bill, the joint resolution, the concurrent resolution, and the simple resolution. Bills A bill is the form used for most legislation, whether permanent or temporary, general or special, public or private. A bill originating in the House of Representatives is designated with the letters “H.R.” signifying “House of Representatives”, followed by a number that it retains throughout the legislative process. Bills are presented to the President for action when approved in identical form by both the House of Representatives and the Senate. Joint Resolutions Joint Resolutions may originate either in the House of Representatives or the Senate. Bills and Joint Resolutions are both subject to the same procedure, with the exception for a joint resolution proposing an amendment to the Constitution. On approval of such a resolution by two-thirds of both the House and Senate, it is sent directly to the Administrator of General Services for submission to the individual states for ratification. It is not presented to the President for approval. Concurrent Resolutions Matters impacting the operations of both the House of Representatives and Senate are usually initiated by means of concurrent resolutions. On approval by both the House of Representatives and Senate, they are signed by the Clerk of the House and the Secretary of the Senate. They are not presented to the President for action. APRIL 2010
Simple Resolutions A matter concerning the operation of either the House of Representatives or Senate alone is initiated by a simple resolution. They are not presented to the President for action.
Consideration by Committee Introduction and Referral to Committee Any member of the House of Representatives may introduce a bill at any time while the house is in session. The sponsor’s signature must appear on the bill and is assigned its legislative number by the Clerk of the House and referred to the appropriate committee by the Speaker of the House with assistance of the Parliamentarian. Public Hearings and Markup Sessions Usually the first step in this process is a public hearing, where committee members hear witnesses representing various viewpoints on the measure. After hearings are completed, the bill is considered in a session that is popularly known as the “mark-up” session. Members of the committee study the viewpoints presented in detail. Amendments may be offered to the bill and the committee members vote to accept or reject these changes. Committee Action At the conclusion of committee deliberation, a vote of committee members is taken to determine what action to take on the measure. It can be reported, with or without amendment, or tabled, which means no further action. If the committee has approved extensive amendments, the may decide to report a new bill incorporating all the amendments. This is known as a “clean bill” which will have a new number. If the committee votes to report a bill, the Committee Report is written. This report describes the purpose and scope of the measure and the reasons for recommended approval. House Floor Consideration Consideration of a measure by the full House can be a simple or very complex process. In general, a measure is ready for consideration by the full House after it has been reported by a committee. The
Sarasota Realtor® Magazine
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Amendment 4 will hurt Florida taxpayers By Ryan Houck Executive Dirctor, Citizens for Lower Taxes and A Stronger Economy As our state’s economy continues to buckle under the strain of the Great Recession, Floridians have been forced to tighten their belts. However, even as many working families and small businesses struggle to make ends meet, a handful of well-funded lawyers and special interest groups are trying to pass an irresponsible amendment to our state constitution that would lead to painful property tax increases. The authors and proponents of Amendment 4 have spent several years and millions of dollars placing their reckless measure on the ballot. However, its spot in this November’s election is particularly alarming given Florida’s struggling economy and depressed fiscal environment. Even as city budgets decline and local government services are cut to accommodate drastic reductions in revenue, Amendment 4 would require Florida’s taxpayers to fund hundreds of costly referenda each year. In the last four years alone, this amendment would have required an average of over 10,599 additional local votes per year in Florida. In larger counties, special elections can cost millions of dollars
each and even if amendments were rolled onto existing ballots, the costs would quickly spiral out of control. According to the Orlando Sentinel, “The cost to local governments of including the land-use amendments on ballots would soar into the millions.” The result, according to a Washington Economics Group study released in January, would be to “force local and state governments to either raise taxes or cut services.” Ultimately, the study notes, “Public schools, public safety and local health care services would suffer from both the direct impact of Amendment 4 (delay construction until the next election) and the indirect impact of fewer tax revenues from which to fund needed operations and capital investments.” And that is what already happened in one small, Florida town. St. Pete
consideration of a measure may be governed by a “rule.” A rule is a resolution which must be passed by the House that sets out the particulars of debate for a specific bill-how much time will be allowed for debate, whether amendments can be offered and other related matters. Debate time is normally divided between proponents and opponents. Each side yields time to those Members who wish to speak on the bill. After all debate is concluded and amendments decided upon, the House is ready to vote on final passage. In some cases, a vote to “recommit” the bill to committee is requested. This is usually an effort by opponents to change some portion or table the measure. If the attempt to recommit fails, a vote on final passage is ordered.
Resolving Differences After a bill passes in the House, it goes to the Senate for
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Beach was forced to raise property tax rates after adopting a local version of Amendment 4 in 2006. Their economy, hindered by an impossible growth management process, has suffered greatly. What’s more, when St. Pete Beach voters approved four progrowth changes to their comprehensive land use plan in 2008, Amendment 4 lawyers sued to overturn the results of the election. To date, the taxpayers of St. Pete Beach have shouldered over half-a-million dollars in legal fees tied to their local version of Amendment 4; they are still defending their vote in court. However, the costs to St. Pete Beach—a small town of only 10,000 residents—would pale in comparison to the cost of imposing this measure upon every community in Florida. Now, more than ever, we need to avoid the kind of short-sighted, antijobs thinking that is exemplified by Amendment 4. When our economy is struggling to regain its vitality, the last thing we need is an amendment that will impede, rather than promote, progress. We must not let Amendment 4 and its supporters erect a roadblock to economic recovery. For more information on Amendment 4 or Citizens for Lower Taxes and A Stronger Economy, please visit www.florida2010.org.
consideration. A bill must pass both bodies in the same form before it can be presented to the President for signature into law. If the Senate changes the language, it must return to the House for concurrence. Often a conference committee will be appointed with both House and Senate members. This group resolves differences between the House and Senate and will report the identical bill back to both bodies for a vote. Final Step Votes on final passage are completed by both the House and the Senate. After a measure has been passed in identical form by both the House and the Senate, It is considered “enrolled.” It is sent to the President who may sign the measure into law, veto it and return it to Congress, let it become law without signature or at the end of the session pocket veto it.
Sarasota Realtor® Magazine
APRIL 2010
11
Property Appraiser
Splitting and combining real property: What are the scenarios for Realtors®?
SPLITTING AND COMBINING REAL PROPERTY
Scenario #1‐ COMBINE: Your phone rings, and it’s the Smith’s, former clients who purchased their home a few years ago. They’re calling you because a For Sale sign just went up on the By Bill Furst, GRI, CRS, CRB vacant lot next door. You and the Smith’s discussed that vacant parcel when they bought their Sarasota County Property Appraiser home, agreeing that having the open space next door enhanced their property, but the Smiths’s were not in a position to purchase it at that time. They now want to move quickly to protect property must be filed by January 1 Scenario #1- COMBINE: Your their privacy and the views they’ve enjoyed the past several years. However, they’re concerned of the year for which the combination phone rings, and it’s the Smith’s, about the property tax implications. The Smith’s want you to tell them how they can incorporate is requested. The entire combined former clients who purchased their value of the added property would be home a few years ago. They’re calling the vacant lot with their Homestead exempt property. subject to the Save Our Homes Cap you because a For Sale sign just went in subsequent years. up on the vacant lot next door. You When parcels are contiguous, and identically titled, they can be combined into one assessment and the Smith’s discussed that vacant parcel with one identification number and one tax bill. Contiguous parcels border each other or parcel when they bought their home, at least meet at one point. Identically titled means that if your client, John Smith, is in title on his Scenario #2 – SPLIT or Cutout: agreeing that having the open space current property, then the other parcel or parcels must be titled to John Smith, not John and Your phone rings again. This time is next door enhanced their property, the Jones’s, the folks who purchased Mary Smith. Nevertheless, it is possible to extend the Homestead exemption when the person but the Smiths’s were not in a a large tract of land several years ago or persons that have beneficial title to contiguous parcels have title to the properties in different position to purchase it at that time. with visions of fresh eggs, organic forms such as a single person, trust, life estate, etc. They now want to move quickly produce, and horses for the kids. to protect their privacy and the views The charms of the gentleman Once the Smith’s acquire the new property they will need to visit our office to fill out the they’ve enjoyed the past several years. farmer lifestyle have faded. The paperwork requesting a combination of the parcels and file a revised Homestead exemption However, they’re concerned about the Jones’s are now eager to sell off most property tax implications. The Smith’s application. Combination requests for Homestead exempt property filed by March 1 will take of their property, but retain their want you to tell them how they can effect on the year of the request. Requests for combinations of non‐Homestead property must existing home on a smaller piece of incorporate the vacant lot with their be filed by January 1 of the year for which the combination is requested. The entire combined land. They’re calling you to advise Homestead exempt property. value of the added property would be subject to the Save Our Homes Cap in subsequent years. them on how and when to split the When parcels are contiguous, property they want to sell. and identically titled, they can be Scenario #2 – SPLIT or Cutout: Your phone rings again. This time is the Jones’s, the folks who An option would be to provide us combined into one assessment parcel purchased a large tract of land several years ago with visions of fresh eggs, organic produce, and a site plan showing the portion they with one identification number and horses for the kids. The charms of the gentleman farmer lifestyle have faded. The Jones’s are will retain and request we separate one tax bill. Contiguous parcels now eager to sell off most of their property, but retain their existing home on a smaller piece of the lands to be sold. However, the border each other or at least meet at option most people choose is to land. They’re calling you to advise them on how and when to split the property they want to sell. one point. wait until the property actually Identically titled means that if sells or is otherwise subdivided in An option would be to provide us a site plan showing the portion they will retain and request we your client, John Smith, is in title an official plat, thus holding on separate the lands to be sold. However, the option most people choose is to wait until the on his current property, then the to any exemption benefits as long property actually sells or is otherwise subdivided in an official plat, thus holding on to any other parcel or parcels must be titled as possible. The deed selling the exemption benefits as long as possible. The deed selling the property or the recorded plat will to John Smith, not John and Mary property or the recorded plat will Smith. automatically cause an adjustment of the Homestead parcel and the creation of new parcels. automatically cause an adjustment Nevertheless, it is possible to extend of the Homestead parcel and the A note of caution: Before asking this office to combine or split any lands, we strongly suggest creation of new parcels. the Homestead exemption when the person or persons that have beneficial you contact the proper jurisdictional Zoning Agency to insure the combination or split will not A note of caution: Before asking title to contiguous parcels have title create a zoning violation or impair your ability to separate the parcels again in the future. this office to combine or split any to the properties in different forms lands, we strongly suggest you contact such as a single person, trust, life the proper jurisdictional Zoning Scenario #3 – Split Tax Bill: The Jones’s are calling again. In the summer you brokered the sale of estate, etc. Agency to insure the combination or their excess lands to a developer. It is November and they just received their tax bill. They are split will not create a zoning violation Once the Smith’s acquire the frantic because the lands they sold are still included in their tax bill; they demand to know what or impair your ability to separate the new property they will need to visit you did wrong. parcels again in the future. our office to fill out the paperwork requesting a combination of the The sale of a portion of a property that takes place after January 1 of any year is processed on parcels and file a revised Homestead Scenario #3 – Split Tax Bill: the following year’s tax roll. In other words, a new tax roll entry for the sold parcel would be exemption application. For more The Jones’s are calling again. In the created on the year following the sale. In this case the Jones’s have no reason to worry. Either Combination requests for information, summer you brokered the sale of they or the buyer may contact the Tax Collector’s office and request a “Split Tax Bill.” Our office Homestead exempt property filed their excess lands to a developer. It contact the would then calculate the value, tax exemptions and/or assessment limitation caps to be by March 1 will take effect on the is November and they just received Property apportioned among their parcel and the new parcel. This information would be delivered to the year of the request. Requests for their tax bill. They are frantic because Appraiser’s office Tax Collector to generate a revised tax bill for the Jones’s’ and a new tax bill for the buyer. combinations of non-Homestead at 941.861.8200.
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Our staff is ready to answer your questions. Give us a call at 941.861.8200 or email us at PA@SC‐PA.com. 12 APRIL 2010 Sarasota Realtor® Magazine
Statutes and Rules related to Splitting and Combining §192.042 F.S. Date of Assessment. – All real property shall be assessed according to its just value as of January 1 of each year. Improvements or portions not substantially completed on January 1 shall have no value placed thereon. §196.031(1) Exemption of Homesteads – Every person who, on January 1, has the legal title or beneficial title in equity to real property in this state and who resides thereon and in good faith makes the same his or her permanent residence is entitled to an exemption on the residence and contiguous real property. Chapter 12D‐13.007 ‐ Florida Administrative Code. – Splits and Cutouts, Time for Requesting and Procedure. (1) When property has been properly assessed in the name of the owner as of January 1 of the tax year, the appraiser may not cancel the assessment by reason of a sale of the whole or a part of the property. The assessment is against the property, not the owner. (2) When the new owner or the original owner wishes to pay taxes on his or her proportionate share of the whole property, it is the duty of the property appraiser to figure the amount of the assessment on that portion of the whole. The request for a split or cutout shall initiate with the tax collector. The owner may request at any time from November 1, and up to 15 days before the tax certificate sale, an assessment on property to be split or cutout of a larger parcel.
_____________________ NEED A SPEAKER FOR YOUR MEETING? BILL FURST WILL COME AND TALK WITH YOUR GROUP AND ANSWER YOUR QUESTIONS.
To set up an appointment call our office at 941.861.8200 or email us at PA@SC‐PA.com
www.sarasotarealtors.com
The sale of a portion of a property that takes place after January 1 of any year is processed on the following year’s tax roll.
Photo Courtesy Detlev von Kessel
the lands they sold are still included in their tax bill; they demand to know what you did wrong. The sale of a portion of a property that takes place after January 1 of any year is processed on the following year’s tax roll. In other words, a new tax roll entry for the sold parcel would be created on the year following the sale. In this case the Jones’s have no reason to worry. Either they or the buyer may contact the Tax Collector’s office and
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request a “Split Tax Bill.” Our office would then calculate the value, tax exemptions and/or assessment limitation caps to be apportioned among their parcel and the new parcel. This information would be delivered to the Tax Collector to generate a revised tax bill for the Jones’s’ and a new tax bill for the buyer.
Our staff is ready to answer your questions. Give us a call at 941.861.8200 or email us at PA@SC-PA.com.
Sarasota Realtor® Magazine
APRIL 2010
13
Ethics in Action 14
Ethics Q&A: Keep up your ethics acumen
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By Bruce Aydt Realtor® Magazine Online Q: An acquaintance of mine has her home exclusively listed for sale with a competing broker, but she told me in a phone conversation that she might change listing brokers. She asked me to look at her home, present a CMA, and discuss possibly taking on the listing. Would it be in violation of the Code of Ethics for me to follow through with this request without first getting permission from the broker who currently holds the listing? Or would this be OK because my acquaintance approached me about it? A: It is not a violation of the Code for you to go on the listing call in these circumstances. Both Standard of Practice 16-6 and Standard of Practice 16-13 address this question. Standard of Practice 16-6 states that “When Realtors® are contacted by the client of another Realtor® regarding the creation of an exclusive relationship to provide the same type of service, and Realtors® have not directly or indirectly initiated such discussions, they may discuss the terms upon which they might enter into a future agreement or, alternatively, may enter into an agreement which becomes effective upon expiration of any existing exclusive agreement.” The key elements of this Standard are that the Realtors® is contacted by the client and has not directly or indirectly initiated the call or the discussions. That is exactly what has happened here. Thus, you may go on the call, present the CMA, and discuss a future listing with your acquaintance. The primary idea behind Standard of Practice 16-13 is “dealings.” A Realtor® may not conduct dealings with the client of another Realtor® without the permission of the client’s exclusive representative or broker or without direction from the client. Thus, there is no violation of the Code because the dealings were not initiated by you. Q: I recently acted as the listing agent for a neighbor who was selling her home. The buyer was represented by a salesperson from a different company. After the transaction closed, a third real estate practitioner who had no part in the deal mailed a “Just Sold” flyer to households in the neighborhood. The flyer contained APRIL 2010
information about the house and the public synopsis from the MLS, along with that real estate practitioner’s contact information and an advertisement for his business. A letter accompanying the flyer also made it appear that he was the broker responsible for the sale, although he didn’t say that explicitly. Is this a Code of Ethics violation? A: The key concept is whether or not the advertising presents a “true picture.” Article 12 of the Code says “Realtors® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.” Standard of Practice 12-7 amplifies the “true picture” test. “Only Realtors® who participated in the transaction as the listing broker or cooperating broker (selling broker) may claim to have ‘sold’ the property.” If the flyer and letter would lead a reasonable consumer to believe the Realtor® who sent the flyer actually “sold” the property, then likely it’s a violation of the Code. Although sold properties and (usually) their sale price are public record, that doesn’t allow Realtors® to claim to have “sold” the property if they weren’t the listing or cooperating broker. This standard also applies to newsletters. Case Interpretations 12-12 and 12-13 allow Realtors® to publish a list of sold properties in a “neighborhood newsletter” as long as that publication is consistent with local MLS rules and it’s clear to reasonable readers that Realtors® aren’t claiming to have sold any property where they weren’t either the listing or selling broker. Remember, the essence of Article 12 is “truth in advertising!”
Sarasota Realtor® Magazine
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p
February 2010 property sales 49 percent higher than February 2009; pendings up
p
Property sales up 49 percent in “You can’t keep a good market down back the overall median sale February 2010; pending sales spike prices. for long.” - 2010 SAR President Erick Overall property sales reached 528 Normal arm’s length Shumway in the Sarasota market in February property sales continue to 2010, up nearly 49 percent over show median sale prices February 2009, and pending sales were also strong at 967 - roughly 150 percent higher than distressed property sale the second highest total in the past four years. The statistics prices. continue to reflect a recovering Sarasota market, as median sale “Despite the national economic doldrums, lingering high prices also rebounded for condos in February and remained unemployment, and other negative factors, our local real estate stable for single family homes. market remains strong compared to recent down years,” said February sales of 379 single family homes and 149 2010 SAR President Erick Shumway. “There are now several condominiums was a major improvement over February months of positive numbers which indicate we are emerging 2009, which saw only 354 overall sales (260 homes and 94 with strength from the recent downturn. While distressed condos). Pending sales, at 967, were about 19 percent higher property sales remain a drag on the overall market health, all than last month’s 815, and more than 23 percent higher than the other statistics are tracking in a very positive manner. Our the 782 reported in February 2009. The statistic is a strong local and even our international buyers are proving the old indicator for the next two or three months of sales, as pending adage that you can’t keep a good market down for long. And sales are an indicator of current buyer activity. and likely with pending sales at nearly 1,000 last month, the near term reflects the rush of buyers to qualify for homebuyer tax credits future looks very promising.” before the April 30th expiration. The property inventory level fell slightly in February 2010 Median sale prices in the Sarasota real estate market rose in to 6,329 from the January total of 6,342, which remains at February 2010 for condos, while slipping slightly for single near the lowest level since late summer of 2005. family homes. The median sale price for a single family home The months of inventory for single family homes was 10.6 was $150,000, down 4 percent from January’s $156,250, but months, a drop from last month’s 11.5 months and far lower up 5.6 percent over last February’s figure of $142,000. For than the 24.1 months in February 2009. For condos, the condos, the median price rose to $169,000 from last month’s months of inventory level was 15.4 months, or slightly higher level of $165,000, a 2.4 percent increase. Last year at this than the 14.7 months last month, and far lower than the 28.4 time, condo median sale price was $198,000. For the last 12 months only a year ago. Once the market reaches the 6 month months combined, the median sale price for single family level it is considered to be in equilibrium between buyers and homes was $160,000, while the median sale price for condos sellers. was $185,000. The first-time homebuyer tax credit, extended and expanded Distressed property sales represented 47 percent of the to include many other homebuyers on Nov. 6, expires at the overall market in February 2010, nearly the same as the end of April, noted Shumway. He urged potential buyers to previous month’s figure of 48 percent. The high percentage of contact local Realtors® and get a contract approved before the short sales and bank-owned foreclosure sales in the Sarasota end of the month to ensure they can take advantage of the market continues to be the single biggest factor holding $8,000 and $6,500 credits.
Velashape for Size and Cellulite Reduction Triniti for Skin Tightening and Rejuvenation Elos Hair Removal Medically-Supervised Weight Loss 2828 South US 41 Sarasota, Fl 34239
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Sarasota Realtor® Magazine
APRIL 2010
15
Sarasota MLSSM Statistics February 2010 Single Family Condo
Unit Sales 500 450 400 350 300 250 200 150 100 50 0 Feb‐09
Mar‐09
Apr‐09 May‐09
Jun‐09
Jul‐09
Aug‐09
Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10
Single Family Condo
Median Sale Price $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Feb‐09 Mar‐09
Apr‐09 May‐09 Jun‐09
Jul‐09
Aug‐09
Sep‐09
Oct.09 Nov. 09 Dec‐09
Jan‐10
Feb‐10
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
4,031
379
9.4
174
$150,000
$160,000
10.6
701
17.4
868
224
This Month Last Year
6266
260
4.1
166
$142,000
$225,000
24.1
611
9.7
837
218
4042
350
8.6
169
$156,250
$160,000
11.5
573
14.2
1,004
185
‐
867
‐
172
$150,000
‐
‐
1274
‐
1,872
‐
Oct 94.4 ‐
Nov 94.1 ‐
Dec 94.2 ‐
Last Month YTD
Jan 93.0 94.4
2009 2010
Single Family – Sale Price Vs. List Price % Rates Feb 93.1 92.8
Mar 92.5 ‐
Apr 92.4 ‐
May 93.2 ‐
Jun 93.8 ‐
Jul 93.2 ‐
Aug 93.6 ‐
Sept 94.2 ‐
Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of March 10th, 2010, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse. Source: Sarasota Association of Realtors® 16
APRIL 2010
Sarasota Realtor® Magazine
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Sarasota MLSSM Statistics February 2010 Single Family Condo
Inventory 8,000 6,000 4,000 2,000 0 Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09
Jul‐09
Aug‐09 Sep‐09
Oct‐09 Nov‐09 Dec‐09
Jan‐10
Feb‐10
Single Family Condo
Pending Sales 900 800 700 600 500 400 300 200 100 0 Feb‐09
Mar‐09
Apr‐09 May‐09
Jun‐09
Jul‐09
Aug‐09
Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10
Condo This Month This Month Last Year Last Month YTD
2009 2010
#Active
#Sold
%Sold
Average DOM
Median Sale Prices
Median Last 12 Months
Months of Inventory
Pending Reported
%Pending
# New Listings
# Off Market
2298
149
6.5
206
$169,000
$185,000
15.4
266
11.6
326
255
2675
94
3.5
154
$198,000
$295,000
28.5
171
6.4
386
148
2300
156
6.8
207
$165,000
$189,900
14.7
242
10.5
385
205
‐
308
‐
206
$170,000
‐
‐
508
‐
711
‐
Nov 92.3 ‐
Dec 93.1 ‐
Jan 91.0 92.5
Condo – Sale Price Vs. List Price % Rates Feb 90.2 92.4
Mar 90.4 ‐
Apr 92.2 ‐
May 90.1 ‐
Jun 91.4 ‐
Jul 92.1 ‐
Aug 92.4 ‐
Sept 91.5 ‐
Oct 92.4 ‐
Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transactions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average number of days that sold properties were on the market before a contract was executed. Sarasota Association of Realtors® MLS www.sarasotarealtors.com
Sarasota Realtor® Magazine
APRIL 2010
17
CID (Commercial Investment Division)
Grassroots bank stimulus is needed But many community banks don’t want TARP money
o
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By Lee DeLieto, Jr. 2010 CID President
One of the many frustrating challenges commercial real estate practitioners have to face is a transaction falling apart due to a lack of financing. No one knows that better than the bankers themselves. Pete Skokos, a partner with the law firm, Norton, Hammersley, Lopez and Skokos, is also a board director for the local Superior Bank. He explains the recent conundrum. “Community banks have been hit hard by this economy and the declining real estate values resulting in loan losses and write downs,” noted Pete. “The loan losses and write downs have in turn led to a deterioration of the bank’s capital. The majority of the community banks did not have access to the TARP funds and as a result of the numerous bank failures, especially among community banks, it is nearly impossible for these banks to raise the capital they need to satisfy the regulators. One of the keys to any stimulus money being offered to the community banks will be the incentives provided to these banks to get them to loan the money rather than to keep the money to shore up their capital position.” In a February issue of CNNMoney.com, staff reporter Catherine Clifford wrote of President Obama’s introduction to Congress of his new government lending program. Does the acronym TARP ring a bell? Standing for Troubled Asset Relief Program, the program gained notoriety for the billions of dollars it fed to the big banks and Wall Street. Clifford explained that the nation’s 22 largest recipients of TARP cut back their small business lending. With that being said, Obama’s “recycled TARP” program was being proposed. However, according to Charlie Brown, CEO of Insignia Bank, any lending proposal that looked like or smelled like TARP was not going to be accepted by community banks. By invitation of Congressman Vern Buchanan, Brown and seven other local community bank CEOs from Florida’s 13th Congressional District met to discuss their roles as it relates to small business lending. In addition to being our local Congressional Representative, Buchanan is also ranking member of the Small Business Finance and Tax Subcommittee and a crusader for the small business owner. “I believe that jobs and the economy are the most important issues facing our country right now,” said
APRIL 2010
Buchanan. “Small businesses create 70 percent of the jobs in this country. They need access to credit to maintain and grow their businesses and hire new workers. Local community banks are vital in the effort to provide capital to credit worthy small businesses.” Buchanan noted that banks aren’t lending. In 2009, bank lending fell by $587.3 billion, or 7.5 percent, from 2008. The Obama administration has proposed a new small business lending fund to make $30 billion in TARP funds available to community banks with $10 billion or less in assets. “What I heard from the banks is that they need capital, but don’t want TARP funds, and I agree,” said Buchanan. “TARP funds should be used to pay down the debt. They also need regulators to work with them to make credit available to small businesses.” As Brown explains, the success of the proposal could come down to the definition of what is a small business loan. Typically, the SBA program (Small Business Administration) is promoted and very successful, but it is also very specific by nature and narrow in scope based on the number of employees and level of sales. On the other hand, the CRA (Community Redevelopment Act) will look at any business with less than $1 million in revenue. Like every other facet of this industry these days, there is no doubt going to be various iterations. But as Brown states, “If the government can pull this off, there will be a tremendous amount of capital and a tremendous incentive to lend, thus funding more small business growth.” If you have questions, comments or topics for discussion, please feel free to write me at LeeDeLietoJr@MichaelSaunders.com
CID plans program for April 20th This month’s CID program will be held in the SAR Main Auditorium on Tuesday, April 20th at 8:30 a.m., and all CID members are invited to attend. Watch for emails concerning details of this month’s program highlights. Consult SAR’s web site - www.sarasotarealtors. com - and weekly e-mail updates for all current CID information.The meeting will be chaired by 2010 CID President Lee DeLieto, Jr. Stay tuned for future program announcements!
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Enter at your own risk!
These days, commercial real estate feels like a lion’s den By Brad Lindberg CID Vice President
It’s hard enough to find a buyer today who hasn’t been influenced by the negative media coverage into thinking that the asking price is 50 percent too high. Properties that are a perfect fit, reasonably priced, and definitely a fair bang for the buck come under fire by the “educated” buyer. On top of that, they want owner financing, a low interest rate, and extended terms matching the financial institution’s funding that they couldn’t qualify for anyway. Then there is the Owner. Already bruised from the decline in property values, owners are constantly being berated by the banks to supply endless reports on vacancies, updated financials and ordering new appraisals, only to have the bank come back for more money to equalize the LTV. No wonder commercial sales agents are carrying raw meat with them these days to throw into the cage before they meet with their respective clients. More often today, we are faced with the reality of being as much a psychologist as we are sales professionals. We must educate our clients before entering in the market. We need to prepare them on what to expect from all anticipated offers and back up the argument with facts. Those facts can be the difference in keeping negotiations open or losing the sale. Here are some examples of preparation that may allow you to keep your head after meeting with your client: Qualify Buyers: If your Buyer needs owner financing for the deal, know that up front. An upside down owner has a very low threshold for coming out of pocket with more money. Have the “hard talk” with the Owner: Be up front and forthcoming about the worst case scenario. If you tell him he will get his price if he lists with you ... you better carry a lot of meat in your briefcase, because you are going to lose your
head when you present the low offer. Keep in touch with your Owner: This is simple. Call them even when there isn’t anything going on! This is the “Throw the meat in the cage first” concept. School your Buyer on the Owner perspectives: If you understand what financial position the owner of a property is in, you can better structure your offer to keep the negotiations open. Agitating the owner will only cost you more. Remember, lawyers get paid by the hour and legal cases can be expensive. Pay me now or pay me later Quit worrying about your commission: The “What’s in it for me?” approach is not a good strategy. If you are more concerned about your commission than your client needs, it will show, and your greatest fear will come true. Do all the right things for your client and you will be rewarded for your effort. Do these things and you won’t have to carry raw meat with you to tame the lion!
2010 CID Officers & Directors Officers:
President: Lee DeLieto, Jr., Michael Saunders & Company President-Elect: Anthony Homer, Lakewood Ranch Commercial Vice-President: Brad Lindberg, Hembree & Associates Past President: Jag Grewal, Ian-Black Secretary: Tim Mapp, Mapp Realty Treasurer: Linda Emery, Michael Saunders & Company
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Directors:
Dave Altwies: Exit Gulf Coast Realty (1 year term 2010) Lori Conable: Osprey Real Estate (1 year term-2010) Eric Massey: Michael Saunders (2 year term - 2011) Mike Sporer: Interstate Commercial Brokers (2 year term - 2011) Diane Lee: Wagner Realty (3 year term - 2012) New Director: TBD
Sarasota Realtor® Magazine
APRIL 2010
19
Education Programs
Condo sales topic of Lunch & Learn Title: Lunch and Learn Series: Condominium Sales in Today’s Marketplace Date: Wednesday, April 7, Noon to 1:15 pm Location: SAR Main Auditorium Cost: Free to SAR and SCBA members, Non-Members: $10 The impact of distress in our real estate market cannot be ignored when buying or selling condominium properties. The Realtor Attorney Committee, a joint effort of the Sarasota Association of Realtors and the Sarasota County Bar Association, brings you a panel of experts to provide a greater understanding of the issues. • Telese McKay practices solely in the field of condominium and homeowner association law. Ms. McKay acts as general counsel to the community association clients of her firm.
• Robert Lambert is a Private Mortgage Banker with MSC Mortgage, an Affiliate of Wells Fargo Home Mortgage. Bob has been intimately involved in the financing of various condominium properties throughout our area. He brings his vast business management background to the mortgage marketplace. • William Sutton, CEO of Progressive Community Management Inc. In addition to his marketing and management duties for Progressive, Bill is intimately involved with associations that have been placed into receivership. Mr. Sutton is currently working with numerous banks and associations that have entered into the foreclosure process. Join us for the second Lunch while you Learn seminar. Bring a brown bag lunch and gain nourishment for your body and mind.
100MPH Marketing for Real Estate
Title: 100MPH Marketing for Real Estate Date: Wednesday, April 28, 9 to 11 a.m. Location: SAR Main Auditorium Cost: $10 (SAR members) $20 (others) Instructor: Mitch Ribak, Tropical Realty of Suntree, Melbourne, FL The Internet is the biggest mystery to the real estate world. Agents are spending thousands of dollars trying to figure out what a small brokerage in Melbourne, Florida has been able to do month in and month out for over eight years! What exactly can you learn from Mitch Ribak? 1. Internet Marketing – Learn the most efficient means of marketing on the Internet from Pay Per Click to SEO. 2. Lead Capture – How do you actually get people to register on
your site. Learn to use lead capture forms through landing pages. 3. Lead Conversion – This is the mystery. The national average of Internet lead conversion is 1 percent. Why is this so low? Tropical Realty of Suntree has averaged between 3 percent and 4.25 percent every year for the past 5 years while growing their company 20 percent or more
each year in what is arguably one of the worst Real Estate markets in the country. 4. Follow up – The key to Internet marketing is a solid follow up program including both Drip email campaigns and phone call follow up. 5. Lead Conversion Administrators (LCA’s) – If you are too busy to keep on top of your leads, add an LCA to help insure maximum lead conversion. This 2-hour seminar will change the way you do business. Mitch doesn’t just teach these programs he uses them daily. In 2009, TRS ended as the number 1 Real Estate office in Buyer Transactions with a total of 311 transactions in Brevard County. TRS has been number one for the past four years!
Mark Your Calendars: 2010 Designation Courses GRI 2 GREEN
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APRIL 2010
May 24-26, June 1-2, 2010 June 7-9, 2010
CIPS Inst. June 21-25, 2010 GRI 3 July 26-28, Aug. 3-4, 2010
Sarasota Realtor® Magazine
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GRI Course 2 offered in late May, June Title: GRI 2 Dates: May 24-26 & June 1-2 Times: 8a.m. to 5 p.m. (varies) Credits: 15 hours broker postlicense credit, or 11 hours continuing education Cost: SAR Members by 5/10/10: $275 Non Members by 5/10/10: $300 After 5/10/10: Add $25 Is it a coincidence that all the top producers in the Sarasota market have earned their GRI designation? We don’t think so! We think the education that you receive from the GRI program is the best anywhere in the country. Sign up today for GRI 2 starting on May 27. Here are the subjects: - Sales and Marketing (one day) - Personal Promotion (one day) - Appraising (one day)
- Investments (half-day) - Construction (half-day) - Elements of E-mail (halfday) Increase your knowledge. You’ll learn valuable information and techniques that can help you and your business. Professionals find the GRI designation a powerful tool for attracting and building new business. Expand your network of real estate professionals to generate more leads. Develop skills and obtain knowledge to get better results with less time and work. Display your designation certification to illustrate your professionalism and expertise.
This GRI series is offered by Florida Realtors® through its Florida Realtor® Institute. All the instructors have been carefully screened for their knowledge of the subjects as well as for their teaching techniques—they’re the best real estate teachers in the state. All GRI Courses are now available for GRI credit online through a special Florida Realtors® website: www.fargri.com.
Earn NAR Green Designation June 7-8
Title: NAR’s Green Designation (complete!) - Core Course – June 7-8 Residential Elective: June 9 Instructor: Lynn A. Nilssen Time: 9 a.m. to 4 p.m. Cost: Core Course $250 Residential Elective: $125 Save $50 and sign up for both at $325 Green homes that are good for the environment while saving home owners money are in demand, and Realtors® are responding by enhancing their multiple listing services to showcase green homes and green features. To prepare themselves to better serve this market, thousands of Realtors® have already earned NAR’s Green designation. In order to earn the NAR Green designation, the student must successfully complete the Core Course and one of three elective courses. • Green Residential Real Estate • Green Commercial Real Estate • Green Property Management Students who complete the Core Course receive a one-year membership in the NAR Green Resource Council. SAR is offering the Residential elective in conjunction with the Core course so you can knock out your designation quickly. After taking this course, you will be able to:
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• Recognize the features that make a home or building green and resource efficient in construction or remodeling, use and operation • Inform customers and clients of the significance of LEED, Energy Star, and other rating systems • Discuss the cost-benefit of resource-efficient building and home systems, materials and land usage • Recognize, validate and respond to concerns and priorities of the green consumer, seller, buyer, tenant, builder, developer • Make the appropriate disclosures consistent with NAR Code of Ethics and state regulations • Describe the interrelationships of sustainable communities, Smart Growth, natural habitat conservation, New Urbanism and land planning.
Sarasota Realtor® Magazine
APRIL 2010
21
Free seminar on Diversity, Fair Housing
Mark your calendar for April 21, from 9 a.m. to Noon for a FREE 3-hour training session concerning Diversity and Fair Housing. Subjects include: • Brief History of the Fair Housing Act • The Fair Housing Act and Prohibited Practices • Fair Housing for Persons with Disabilities • Definition of Disabled Persons • What are Reasonable Accommodations?
• What Constitutes Reasonable Modifications? • Avoiding Liability – Policies, Procedures • Landlord/Tenant Issues & Fair Housing • Question & Answer Session The event is sponsored by the Sarasota Office of Housing & Community Development, with facility and refreshments by Northern Trust Bank, 1515 Ringling Boulevard, Sarasota, 11th Floor Conference Room. RSVP to Cindy Emshoff at 951-3640 ext. 3780 or Cynthia.Emshoff@sarasotagov.com
CONGRATULATIONS! Dedication and hard work pay off!! We congratulate our members who have successfully completed the requirements for the National Association of Realtors designation and certificate programs, Graduate Realtor Institute (GRI), ePRO Certification (e-PRO), and At Home With Diversity (AHWD).
Graduate Realtor Institute (GRI) Stephanie Lyn Burwood Jeff Kratz
Keller Williams Lakewood Ranch RE/MAX Platinum Realty
e-Pro Certification (ePro) Chuck Shah
Lakewood Ranch Realty
At Home With Diversity (AHWD)
Leaping Into A Short Sale Negotiation Can Be A Dangerous Move. Regina Brassil
With short sale negotiations, there are many problems and issues that may arise; many you may never see coming. So before you leap into a short sale negotiation, consult with attorney Steven R. Greenberg.
True Real Estate
Steven and his team offer: • Comprehensive short sale services by a Board Certified Real Estate Attorney • Fixed fee short sale negotiations for Sellers • Experienced, full-time short sale coordinator working with loss mitigation negotiators and Realtors • Pre-foreclosure counseling available for Sellers with CPA/Attorney
STEVEN R. GREENBERG Board Certified Real Estate Attorney
941.365.6216
A Firm Commitment To You.
2033 Main Street, Suite 500 Sarasota, FL 34237 941.365.6216 For Immediate Service: Linda Witt, Director of Marketing Call 941-586-4412 e-mail: REinfo@icardmerrill.com
s tor rs
Discover your MFRMLS hidden talents Pre-registration is required for all MLXchange classes at www.mfrmls. com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot! MLXchange Basic April 5, April 19, 9 a.m. to Noon Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work. Mandatory session for all new users. - Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information Entering and Updating Listings in MLXchange April 5, April 19, 1:30 to 3:30 p.m. This class is mandatory if you will be entering and updating your own listings. You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques. - Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that have specific entries in the Rules and
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Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch - easiest way to modify the listings MLXchange Advanced April 20, 9 a.m. to Noon Take MLXchange to the next level! In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches. - Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order Creating a Professional CMA April 20, 1:30 to 3:30 p.m. One of the most crucial components in today’s real estate professional’s day-today business is capturing and handling leads along with time management. This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go handin-hand with a successful real estate business. Design Web Pages, Capture Leads April 21, 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.
Sarasota Realtor® Magazine
iMapp - Interactive Tax and Mailing Labels April 21, 1:30 to 3:30 p.m. 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 Using MLXchange to Effectively Manage Time & Contacts April 27, 9 a.m. to Noon Time and contact management are more important than ever in today’s fast-faced real estate industry. This course will show you how to maximize the tools available in MLXchange along with other products that work handin-hand allowing you to become more productive in your real estate business. Maximizing Your MFR Productivity Toolbox April 27, 1:30 to 3:30 p.m. This class introduces the user to the often overlooked plug-ins and features that are designed to save you time and money, as well as adding an extra level of service to your customer.
APRIL 2010
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On the SAR Scene
SAR members out and about!
SAR awarded 11 Realtor Emeritus designations at the March 12th Quarterly Membership Meeting. From left to right, Charles Volkert, William Greene, Selma Dyer, Paul Inkrott, Maryline O’Dea, Richard Plumb and Nancy Spinks. Not pictured - Craig Abbott, James Barnett, Fred Gibson and Gerald Kabobel. Below right, Fred Scheerle of Habitat for Humanity speaks at the event.
Many SAR members attended the Google Fiber promotion event at Mote Marine in March, where Sarasota Mayor Richard Clapp literally swam with the sharks to boost our community’s chances of getting the higherspeed Internet. SAR members are active, energized and out in force in the community! You can find hundreds of photos from our regular events at www.facebook.com/SarasotaRealtors Please visit soon and tag your friends and business associates! Visit SAR on Facebook at www.facebook.com/SarasotaRealtors 24
APRIL 2010
Sarasota Realtor® Magazine
www.sarasotarealtors.com
A new group of SAR members attends the monthly Orientation Session in March.
Award-winning printing and customer service Specializing in pocket portfolios, die-cutting and foil-stamping done in-house Anthony Homer of Lakewood Ranch Commercial Realty.
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
Tommy Klauber, Robin Parsons and Craig Cerreta. www.sarasotarealtors.com
Sarasota Realtor® Magazine
APRIL 2010
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Affiliate Focus 26
Mold can be health risk, devalue property By Edward Thomas SAR Affiliate Environmental Toxic Mold Removal
Since there are no set laws to date in the mold-related industry, Environmental Toxic Mold Removal follows the guidelines recommended by the EPA. New laws will be in place by July 2010, so keep an eye on the news. Did You Know? 1. Over 50 percent of homes and buildings contain mold problems due to water intrusion. 2. A 300 percent increase in the asthma rate over the past 20 years has been linked to mold. 3. Mold can cause a large variety of health effects, including behavior problems, learning disabilities, brain damage, ear infections, sinus and/or eye infections, damage to immune system, breathing disorders such as allergies and asthma. 4. Mold affects everyone differently. Those most affected by mold are young children, the elderly and persons with compromised immune systems. Because of the countless number of mold lawsuits, problems associated with mold have received a lot of media attention and raised new concerns in the health and real estate industries. Mold issues can cause serious health problems and property damage. An area the size of a softball can emit tens of thousands of spores into the air. Some mold types are infectious, some are extremely toxic, and indoor molds are considered allergenic. Sixty percent of the time, there are no visible signs of mold. There are over 30 areas in buildings and homes where water problems can exist. For example, mold may grow behind walls, in ceilings, under floors and in attics. In some cases, new homes are constructed with lumber that has been left outdoors. Wet lumber is framed into the building and covered with drywall.
APRIL 2010
The mold will grow in the wall within 48 hours. Mold not only poses health risks, it also does damage to the property. Symptoms of Mold Exposure 1. Chronic fatigue 2. Headaches 3. Loss of memory or concentration 4. Trouble thinking or learning 5. Clear, thin, watery mucus drips from the nose 6. Green slime comes out of nose 7. Frequent bloody nose 8. Coughing or difficulty breathing 9. Hives or skin rashes 10. Sneezing, itchy eyes, nose, throat or mouth Mold Remediation Tips 1. Work fast in cleanup. The first 24 to 48 hours are crucial. Mold will start growing during this time. 2. Fast cleanup will stop mold organisms from becoming airborne. 3. Do not use chlorine bleach to kill mold. Chlorine bleach is ineffective for three reasons: a. It is too weak to kill mold and mildew,because it is only about 5% bleach, and not E.P.A. approved. b. It will not soak into porous materials (drywall, wood, etc.). It will only work on the outside surface, not on the inside where mold may be growing. c. What little power it has quickly diminishes as it sits on grocery and warehouse store shelves. Remember that all mold needs is moisture to grow. If you use 5 percent chlorine bleach, that leaves 95 percent water! (FOOD FOR MOLD.) Environmental Toxic Mold Removal Services is an Affiliate member of SAR. Visit them online at www. etmrservices.com.
Sarasota Realtor速 Magazine
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By Pamela Dittmer McKuen Realtor® Magazine Online
Did you know sales contests can alienate team members even when your goal is to boost morale. One of Linda M. Lukas’ most treasured possessions is a brass eagle that stands nearly a foot tall. The figurine, displayed prominently on her dining room hutch, is a top producer award she earned in the early 1980s from the now-closed Lincoln Realty in Orange, Calif. “It’s not that I needed more dust catchers, but there’s status in receiving it,” Lukas says. “Everybody sees you walk up and get that eagle at the sales meeting.” In 2002 Lukas opened her own brokerage, Lukas Properties, also in Orange. As the sole proprietor, she doesn’t have a need for sales contests anymore. But she still recalls how much excitement they would create in the office. “It was the most fun I had in my life,” she says. “You’d have an idea of who would win because the sales board was up, but there were people who would sandbag deals at the last minute. There was so much camaraderie. We’d pick on each other in a friendly fashion: ‘Oh, no, not you again’ or ‘How many deals are in your briefcase today?’” Competitions have long served to recognize high achievers and inspire others to ramp up production. Specifics vary from brokerage to brokerage, but monthly, quarterly, and annual competitions are common. As for the winnings, inscribed wall plaques are traditional and ubiquitous, although the gamut includes ribbons, dollars, and even diamonds. As Lukas did earlier in her career, many practitioners thrive in a competitive environment in which
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they try to outdo themselves and each other. “I think sales awards are phenomenal as a motivational tool,” says Jason Burkholder, ABR®, e-PRO®, who manages Weichert, Realtors®, Engle & Hambright in Lancaster, Pa. “Our agents love the recognition. It gives them a sense of achievement and purpose, which is important in a business where there’s so much rejection.” But not everyone feels the same way about contests. Many managers and salespeople say they can backfire, alienating the majority of the office that does not win. And some are downright emphatic about their disdain for such competitions—and not because they’ve never stood to win one.
No Awards, Please Six years ago Vicki Doudera began selling real estate in her coastal hometown of Camden, Maine. One reason she joined Camden Real Estate Co.: Its no-contest policy. She believes such competition breaks down camaraderie more than builds it up. “Individual recognition is nice,” says Doudera, who holds NAR’s green designation. “I was Realtor® of the Year for the Coastal Mountain Council of Realtors® [part of the Mid-Coast Board of Realtors® in Palermo, Maine]. But what supersedes that is working together as a team and focusing on your client. I don’t think sales contests help your client.” It doesn’t do much for sales production, either, Doudera says. Despite Camden Real Estate’s relatively small size of 17 practitioners, it consistently ranks among the state’s top-performing brokerages in sales volume, according to local MLS data. Debi Wilson, a 10-year sales
Sarasota Realtor® Magazine
veteran who last fall joined ERA Freeman & Associates in Gresham, Ore., makes another point: Awards rarely take into account the full story behind the numbers. She’s seen top producers who boost sales figures by buying and selling their own properties, and others who use teams of telemarketers rather than handle marketing on their own. “One of my associates works with lower-end purchases in the ballpark of $100,000,” she says. “She’s a huge producer in her niche market. She has more transactions and more happy customers than many of those with huge numbers, but she’s not recognized because her dollars are so small.” And then there are salespeople like Mona Ferro of London Properties in Merced, Calif., who have never felt at ease with sales awards as a means for accolades. As a young sales associate in the mid 1980s, she was discouraged when her production was compared to that of the seasoned pros. Later she became a winner, too, but by that time she didn’t feel that she needed an award to tell her she was doing a good job—she had plenty of satisfied clients to do that. “What I want is a bigger part of my hard-earned money,” she says. “I can buy my own plaques.” Like Ferro, longtime sales associate Diane Saatchi doesn’t like sales contests on a personal level. “I hate any kind of recognition,” says Saatchi, a top producer with Corcoran Group in East Hampton, N.Y. “I don’t mention my awards on my stationery or in my advertising. I don’t want anyone to know how much I sold or how much money I have. I’m a private person.” But as a former broker-owner, she understands that contests can work as a motivational tool.
APRIL 2010
Broker Corner
Do sales awards really matter? Maybe
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WCR is a great way to garner referrals By Karen Grant 2010 WCR President
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The Women’s Council of Realtors® is more than a women’s organization. It is a network of professionals, a support system with strong individuals who are willing to try and meet new challenges. With our speakers, scheduled events, and classes our members make a difference. Our referral system is like no other and nets thousands of dollars each year to our members. We are a Mega chapter with our state of Florida, Women’s Council of Realtors®, ranking number one nationally. Our February and March programs were inspirational. Lance Burchett, Vice President for Advancement at Ringling College of Art and Design, inspired us by showing how the college has emerged as an economic driver of the future. He explained how the benefits have given world class recognition to Sarasota. In March, we listened to Beth Barnett’s inspirational talk on Overcoming Adversity. Her perseverance in staying focused as a professional Realtor® while battling health problems has set a positive example for others. Beth was honored by the American Cancer Society and continues to be a role model to others. Congratulations to Marianne LeBar, Vice President of Membership, and her team during our membership drive and a big welcome to all our new members. Our new local chapter website is www.SarasotaWCR.com For more information about our website for members to advertise their company, contact Tina Darling, our webmaster, at Tina@FloridaAssistant.com. Social media is in growth mode, so grow your business with Women’s Council of Realtors®. Become a member and join us on our websites, local, and national, and now on Facebook and Linked In. Jan - Feb New Realtor® Members Janice Perry - MSC; Donna Baranowski - MSC; Lisa Curt - MSC; Janis Collier-MSC; Michael Bruno Prudential Palms; Tama Traberman - MSC; Ellen Laura Esses - Xena Vallone Realty; JoEllyn Yturraspe - Prudential Palms; Judy Nimz - MSC; Maureen Doherty - MSC; Linda Driggs - MSC; Celeste Dymnicki - MSC; Yolanda Kirkpatrick - Prudential Palms; Pam Sweeney - MSC; Bernadette Caswell - MSC; Steve Cavanaugh - RE/MAX; Robin DiSabatino - MSC.
Jan -April New Affiliate Members Sheila Marvel - N&M Cool Today (NYP); Patty Sullivan - M&I Bank (NYP); Jeanne Abel- Regions Bank; Marylou Bear - Regions Bank; Tina Darling - Innovative Agent Services; Kathleen Vacca -Patterson Appraisal Group; Kathy Collums - Sabal Palms Bank; DJ Throgmorton First American Home Buyers; Karen Gagliardi - Berlin Patten; Michelle Hobson - Hobson Termite & Pest; Pam McCrone - Premier Inspection Services WCR 2010 Programs April 9, 8:30 a.m., Bent Tree Country Club: “Young Producers Panel” - Christina Pitchford, Coordinator May 7, 11 a.m., Lakewood Ranch Country Club: “Honoring Past Women’s Council Presidents” (Joint Meet with Manatee WCR June 25 - Joint Meet Wth SAR; District XIII & V Forum, President Nan Harper, Keynote Speaker July 9, 11 a.m., Laurel Oak Country Club: “Lynn McDonald - Topic TBA; Election of 2011 Officers Aug. 13, 11 a.m., University Park Country Club: “Legislation That Affects Florida Realtors - Ron Reagan, Speaker Pro-Tempore, FL House of Representatives September - Fashion Show - Date and Location TBD Oct. 8, 8:30 a.m., Bird Key Yacht Club: Program TBA Nov. 12, 11 a.m., University Park Country Club: Award Ceremony and Farewell Dec. 10: Installation of 2011 President and Board, Sarasota Yacht Club
Sponsors
Gold: University Park Lifestyles, Inc. Silver: Lakewood Ranch Communities, LLC Neal Communities Starr Title Insurance Services - Carrie Rummery Bronze: Regions Mortgage BB&T Oswald Trippe - Joe Sikora Silver Fox Pest Management MGA Insurance Group Southern Trust Financial Planning Intutive Interiors - Debra Bois
2010 Line Officers
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Karen Grant President RE/MAX Tropical Sands Cell: 941-504-4952 karenlgrant@comcast.net
Marianne LeBar Vice President of Membership Michael Saunders & Company Cell: 941-650-0337
mariannelebar@michaelsaunders.com
Leslie Lauritano Recording Secretary Regions Bank Cell: 941-504-1028 leslie.lauritano@regions.com
Cindi Jackson President-Elect Exit Realty Signature Properties Cell: 941-400-6091 cindi_title@yahoo.com
Sharyl Smith Treasurer Bank of Commerce Cell: 941-374-06302 ssmith@bankofcommercefl.com
Melia Favorite Corresponding Secretary American Family Financial Cell: 941-807-0303 melia@americanfamilyfinancial.org
APRIL 2010
Sarasota Realtor® Magazine
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Title: International Real Estate 101 Date: April 14, 9 a.m. Location: SAR Main Auditorium FREE! The SAR International Real Estate Council Steering Committee has put together a course that is specially designed to introduce Realtors to the potential of the international real estate market. Learn how to establish relationships, generate referrals and international business. Learn all the new features of an upgraded Immobel (a product for international marketing that comes free with your SAR membership). IMMOBEL can translate your listings into 13 different foreign languages and post these listings in native languages to over 500,000 professionals across the United States and around the world through their
Global Referral Network. This can open your business up to more markets and greater opportunities while also offering exclusive tools to help you market and manage international listings. Learn where other resources and tools are available to help you get connected. A panel of successful international agents will tell you how they do business and how they work with their markets. What is CIPS? TRC? ICREA? Who Is Your Global Business Partner? Please RSVP to catherine@sarasotarealtors.com by April 7, 2010 or register online.
Gain the CIPS designation - for less! Title: CIPS Institute (Certified International Property Specialist) Dates: June 21-25 Location: SAR Main Auditorium Instructors- David Lauster, CIPS, David Wyant, CIPS Cost: $499 for SAR members (a $126 discount); $575 for non-SAR members (a $50 discount) This Institute will be one of the first to be offered after NAR compresses the courses for the designation from 7 days down to 5, effective June 2010. The low price for the complete designation is possible because of NAR’s Right Tools, Right Now program which has been extended through 2010, and also because the program has been shortened by two days. Get your CIPS designation while the price is the lowest you’ll ever see! The complete series of classes leading to the CIPS designation is $499 for SAR members, a $126 discount. The complete series is $575 for non-SAR members, a $50 discount. CIPS Institutes concentrate five of the required international CIPS courses into a 5-day format, allowing students to save travel costs and to complete the program quickly. June 21: Special Price - $125 - International Real Estate for Local Markets: Analysis of the international real estate business environment, government regulations and cultures. The practical aspects of international brokerage, networking, marketing and selling are discussed (Lauster) June 22: Special Price - $125 - Investment & Financial Analysis for International Real Estate: Provides the tools needed to present investment information
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to international clients— in their currency and area. HP-10B calculator required. (Lauster) June 23: Special Price - $125 - Europe & International Real Estate: Provides information on working with clients in Western and Central Europe. The European Union and its impact on international real estate are covered, along with economic and real estate trends, networking and relationship building, plus marketing and selling practices (Lauster) June 24: Special Price - $125 - Asia/Pacific and International Real Estate: Covers real estate practices in Asia and the Pacific with emphasis on cultural influences, economic trends and assessment of investment opportunities. A special chapter on working with the Japanese is included (Wyant) June 25: Special Price - $125 - The Americas & International Real Estate: Practical information for professionals who work with Caribbean, North, Central and South American investors. Historical and cultural influences, regional relationships, and investment opportunities are covered along with a special focus on Mexico (Wyant) Special Price—Save and take the entire series! - $499- Entire Series (SAR Members only, $575 nonSAR members) leading to CIPS designation—June 21-25
Sarasota Realtor® Magazine
APRIL 2010
International Real Estate
International Real Estate 101: Get the basics!
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Membership News
The Association is pleased to welcome new members! Designated Realtors®
Barbosa, R. Paulo: Sabal Real Estate Claydon, James: Nextage Lighthouse Realty Furry, E. Amy: ASF Partners Realty LLC Halpern, C. Allen: Florida West Coast Real Estate Ovitz, G. Ernest: Viridian Key Corp Pavonetti, M. Nicholas: Neighborhood Stimulus Group Preissner, William Ryan: Tarpon Coast Appraisal Redding, M. Keith: Omega Real Estate Group LLC Savage, M. Ina: Siesta Dunes Realty Inc
New Members
Arthur, Sam: Horizon Realty Butler Denman, Kathleen: Prudential Palms Realty Conway, Clinton: Signature Sothebys Internat’l Deckard, Roger: Keller Williams On The Water Drourr, Shawn: Michael Saunders & Company Eckstein, Anna: EXIT Creative Realty Estes, Toi: Signature Sothebys Internat’l Hamilton, Fred: Prudential Palms Realty Johnson, David: Keller Williams Lakewood Ranch Kelly, Patrice: Coldwell Banker Res R E Lange, Alba: Lakewood Ranch Realty LLC LaRue, Rochelle: Prudential Palms Realty Masopust, Rudolf: Impulse Realty LLC Menke, Linda: Coffey & Company Realty Moon, R Rex: Allen Real Estate Services Inc. Otto, J Jack: Michael Saunders & Company Owens, Tamara: Cristello and Co Real Estate Padgett, Don: Coffey & Company Realty Parker, Charles: Hembree And Assoc Inc. Plack, Penelope: Realty Executive Solutions Rasmussen, Kay: Michael Saunders & Company Ruiz del Vizo, Ricardo: Coffey & Company Realty Ruszkiewicz, Laura: Signature Sothebys Internat’l Smith, Bridget: Signature Sothebys Internat’l Smith, Lisa: Prudential Palms Realty Storey, Richard: RE/MAX Tropical Sands Torok, Tamas: Listing Services Direct Trindle, Leigh Ann: RealtyOne Alliance Turner, Marcus: Engel & Voelkers LBK Realty Williams, Angela: RER International
Now With ...
Amero, Albert: Exit Realty Signature Prop Arthur, Sam: Horizon Realty Baldwin, Patricia: Keller Williams Lakewood Ranch Barshinger, Katherine: Midnight Cove Realty Inc. Biggar, Cynthia: Allison James Estates & Homes Biggar, Helen: Allison James Estates & Homes Biggar III, F McKay: Allison James Estates & Homes Bohack, Bill: Coldwell Banker Res R E Bryant, Teresa: Wagner Realty Carr, Robert: Waterside Realty LLC Chapman, Chris: Horizon Realty Clark, Louise: Coldwell Banker Res R E Cooper, Debra: Keller Williams On The Water Cox, Heidi: Michael Saunders & Company Cunneen, Stacy: GSS Real Estate LLC Davis, Carolyn: Sabal Real Estate
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APRIL 2010
Edwards, Carol: Neal Communities Realty Inc Ellwood, Marcella: Moynihan Realty Group Inc. Esses, Ellen Laura: Prudential Palms Realty Evans, Mark: Coldwell Banker Res R E Feeney, Susan: Key Realty Fellabaum, Pamela: Sabal Real Estate Feuerbach, Silvia: Wagner Realty Flannagan, Mark: Horizon Realty Flynn, Ronald: Sandals Realty of Sarasota Gooding, Carol: Lee Wetherington Realty Gornnert, Gary: Wagner Realty Goslin, Anthony: Horizon Realty Grigoli, Deirdre: Prudential Palms Realty Hanson, Ruth: Action Realty of Sarasota LLC Hatin, Holly: Cristello and Co Real Estate Hering, Daniel: Horizon Realty Heuer, J Eric: Coldwell Banker Res R E Higgins, Daniel: Coldwell Banker Res R E Icely, Shawn: SB Realty Inc Jenkins, Troy: Realty Executives Solutions Johnson, Ronald: Wagner Realty Kehrer, Gary: Wagner Realty Kirk, Susan: RE/MAX Tropical Sands Kirkpatrick, Yolanda: Prudential Palms Realty Knutson, William: Horizon Realty LaBarre, Dawn: Byrd Realty LLC Latino, John: Beckmann Properties Lewis, Scott: Cityscapes Int’l Realty Grp Meskil, Brian: Michael Saunders & Company Miante, Marie: Atchley International Realty Mills , Sherri: Michael Saunders & Company Minton, Mark: Beckmann Properties Piper, Patricia: Michael Saunders & Company Price Jr, Glenn: Sandals Realty of Sarasota Robinson, Margot: Wagner Realty Saoud, Mike: Wagner Realty Slater, Marina: Coldwell Banker Res R E Smith, Susan: Michael Saunders & Company Suplee, Thomas: Mangrove Realty Associates Tanguay, Keith: Michael Saunders & Company Taylor, Judee: Horizon Realty Travers, William: Atchley International Realty Velez, Emily: RE/MAX Alliance Group Walsh, Kevin: RE/MAX Excellence Yturraspe, Jo Ellyn: Cityscapes Int’l Realty Grp Zheleznyak, Maryna: Top Realty Group of Florida
New Affiliates
Baldwin Development LLC.
4813 Ocean Blvd Sarasota, FL 34242 Phone Number: 941-780-2188 Representative: Mark H Baldwin Specialty: Your Residential and Commercial building experts! Custom Home Building, Renovations, and Interior Design. Also specializing in home inspections and project management/consulting. In addition to construction and renovation, Baldwin Development has a line of Do-It-Yourself furniture books for projects and plans. Email: baldwindevel@aol.com
Sarasota Realtor® Magazine
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David H. Rosenberg P.L.
1626 Ringling Blvd. Suite 500 Sarasota, FL 34236 Phone Number: 941-361-1153 Representative: Christopher Horlacher Specialty: Boutique Law Firm. Practicing in the areas of Residential and Commercial closings, foreclosure defense, short sale negotiation and all other areas of real estate law. Email: chris@dhrpl.com
Hyatt Regency Sarasota
EcoMaids of Sarasota
MoneyCorp
2103 Reynolds Street Sarasota, FL 34231 Phone Number: 941-894-7808 Representative: George Gordon Specialty: Family owned green cleaning company servicing the Greater Sarasota/Bradenton/Venice area. EcoMaids provides high quality cleaning services using products and supplies that are safe for you and your family, your pets and the planet. Our cleaning products are Non-toxic, Chemical-free, Allnatural and Biodegradable. All-natural products clean and disinfect just as well if not better than chemical-based products, without introducing harmful toxins into your home and the environment. Email: sarasota@ecomaids.biz
5/3 Bank
50 Central Avenue Sarasota, FL 34236 Phone Number: 941-223-1771 Representative: James S Foubister IV Specialty: Progessive Lending Bank with Proven Reliablity. When you are looking to buy a home, you want to look for the best option to suit your financial situation. Consider Fifth Third Bank your mortgage resource. We have a wide selection of options for financing; so chances are, you’re sure to find the type of mortgage that suits you perfectly. Email: james.foubister@53.com
First Federal Bank of Florida
8307 Lockwood Ridge Road Sarasota, FL 34243 Phone Number: 941-359-6820 Representative: Christopher Schultz Specialty: Connecting our Communities.”First Federal Bank of Florida strives to be the prominent bank in the Sarasota area market we serve by providing quality service in accordance with safe and sound banking practices, while responding to the needs of our communities and rewarding those responsible for our success.” Residential Mortgage Loans, Construction Loans, Purchase, Refinancing, FHA, Rural Development, VA, and Conventional Loans Email: schultzc@ffsb.com
Hometown Lenders LLC
3069 Quail Hollow Sarasota, FL 34235 Phone Number: 941-586-7680 Representative: Thomas S Zaharakis Specialty: Mortgage Banker. Email: tomz@htlenders.com
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1000 Blvd of the Arts Sarasota, FL 34236 Phone Number: 941-363-2601 Representative: Wanda Wallace Specialty: Hyatt Regency Sarasota is the only AAA 4 Diamond Luxury Hotel in Sarasota! Email: wandawallace@hyatt.com 7380 Sand Lake Road, Suite 410 Orlando, FL 32819 Phone Number: 407-352-5890 Representative: Stella Giudicelli Specialty: We help real estate professionals with their international clients. We provide their clients with competitive exchange rates Email: Stella.Giudicelli@MONEYCORP.com
National Cremation & Burial
2990 Bee Ridge Road Sarasota, FL 34239 Phone Number: 941-284-4152 Representative: Ellen Esses Specialty:National Cremation & Burial is the largest single provider of low cost cremation and burial in the state of Florida. Our goal is always to be the most compassionate, empathetic provider available. So while we continue to provide affordable, uncomplicated cremation and burial arrangements, we also seek to offer exceptional value and unmatched service. Email: ellen.esses@sci-us.com
Sabal Palm Bank
5101 Fruitville Road Sarasota, FL 34232 Phone Number: 941-806-0436 Representative: William L. Holt Specialty: Sabal Palm Bank was founded in October, 2006, by experienced bankers, diverse professionals and community leaders all having deep ties to Sarasota and Manatee counties. Locally owned and operated Ccommunity Bank. Offering personal and business banking services, commercial, consumer/ residential loans and mortgages. Sabal Palm Bank has remote deposit capture services also. Email: wholt@sabalpalmbank.com
Stoneburner Mortgage Group
766 South Osprey Ave Sarasota, FL 34236 Phone Number: 941-809-3547 Representative: Mike Stoneburner Specialty: Mortgage Consultants - When you decide to buy a home or refinance a mortgage, it’s a big step. You can trust us to find the loan program that’s best for you. We will give you the personal attention you deserve and treat you with the respect due a valued customer. We understand you’re making a commitment in buying a new home, refinancing a mortgage, or cashing out your home equity. So we will make a commitment to you. We will help you qualify, apply and be approved for the right mortgage loan for you. Not anyone else! Email: mike@stoneburnermortgage.com
Sarasota Realtor® Magazine
APRIL 2010
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PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451
APRIL 2010 S ARASOTA A SSOCIATION OF R EALTORS ® E DUCATION /E VENTS C ALENDAR 29
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Tuesday
Wednesday
Thursday
Friday
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April 1
2
9 a.m. Waterfront Property Due Diligence Seminar
8 a.m. Power Marketing (University Park CC)
9 a.m. CID Commercial Marketplace
9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings
Great American Realtor Days - FAR
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12
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9 a.m. International Seminar 101 5:30 p.m. SYR Social - Ceviche
8 a.m. Power Marketing (SAR)
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9 a.m.– 4 p.m. New Member Orientation & Code of Ethics
9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings
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8:30 a.m. CID General Membership 9 a.m. MLX Advanced 1:30 p.m. Creating a CMA
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9 a.m. MLXchange Contacts/ Outlook (New Class) 1:30 p.m. MLXchange/Toolbox 5 p.m. Affiliates Social Main St .Oyster Bar
Great American Realtor Days - FAR 7:30 a.m. Toastmasters 12 Noon Realtor/Attorney Seminar –Condominium
8 a.m. Power Marketing (SAR)
7:30 a.m. Toastmasters 9:30 a.m. Fair Housing SeminarNorthern Trust Bank
8 a.m. Power Marketing (SAR)
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9 a.m. CID Commercial Marketplace
9 a.m. CID Commercial Marketplace (Manatee Association of Realtors®)
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9 a.m. CID Commercial Marketplace
9 a.m. Design Web Page 1:30 p.m. iMAPP
9 a.m. Tech Seminar-100 MPH Marketing for Real Estate
8 a.m. Power Marketing (SAR)
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9 a.m. CID Commercial Marketplace
Note: All events/classes are at SAR, except where noted
My Florida Regional MLS Training
The classes E & U (Entering & Updating), Tools, Design Web Pages, MLX Intro, MLX Advanced, iMAPP, Custom Reports and CMA are all My Florida Regional MLS training classes offered at no cost to MLS participants. All classes (except E & U) are HANDS-ON in the SAR Tech Center. Please register for all MLS classes at the MFRMLS website: http://mfrmls.com. Click on “Training,” then “Quick Class Registration” and follow prompts.
Sarasota Association of Realtors®, Inc. 3590 S. Tuttle Ave. Sarasota, FL 34239
Monday
Arm's Length Sales ‐ By Quarter
Single Family Condo
1200 1000 800 600 400 200 0 2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4
Short Sales ‐ By Quarter 350
Single Family Condo
300 250 200 150 100 50 0 2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4
REO Sales ‐ By Quarter
Single Family Condo
500 400 300 200 100 0 2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4
Source: Sarasota Association of Realtors®
The Extra Pages - Digital Version Only
Extra MLS Statistics
New Listings
Single Family Condo
1,200 1,000 800 600 400 200 0 Feb‐09 Mar‐09
Apr‐09 May‐09 Jun‐09
Jul‐09
Aug‐09
Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10
Months of Inventory 50.0 40.0 30.0 20.0 10.0 0.0 Jan‐09 Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09 Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 9‐Jan
9‐Feb
9‐Mar
9‐Apr
9‐May
9‐Jun
9‐Jul
9‐Aug
9‐Sep
9‐Oct
9‐Nov
9‐Dec
Jan‐10
Feb‐10
Single Family
25.3
24.1
17.1
15.2
14.3
10.0
9.0
10.3
9.8
9.3
9.4
8.1
11.5
10.6
Condo
38.4
28.5
21.2
19.1
19.0
16.1
16.9
20.5
15.1
15.0
14.6
12.3
14.7
15.4
Overall Sales Volume $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09 Feb‐09
Mar‐09
Apr‐09
May‐09
Jun‐09
Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Jul‐09
Aug‐09
Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10
Single Family
$66,482,386
$85,952,266 $100,562,897 $98,080,096 $124,493,410 $155,965,679 $93,852,581 $108,129,703 $106,634,831 $118,741,492 $138,311,391 $91,178,403
$90,615,651
Condo
$26,765,925
$35,987,736
$43,400,202
$42,750,598
$39,960,762
$52,908,252
$47,470,370
$37,933,125
$48,128,868
$46,426,400
$43,392,376
$56,455,335
$45,146,896
Source: Sarasota Association of Realtors® MLS
Annual Sales ‐ 2000 to 2009 Single Family
Condo
Total
11267 10562 9697 8167 7,596 6533
7036
6,841
6,504
6739
6358
6042
5,603
5,183
4,940
4,626
4,353
4,349 3,193 2,184
2,096
5820
3,671
3,922
3,721
2,564
2,120
2,005
1,194
2000
2001
2002
2003
2004
2005
2006
2007
2008
1,556
2009
Annual Median Sale Price ‐ 2000 to 2009 Single Family $351,000 $305,000
$342,000
$336,250
$301,225
$303,000
Condo
$320,000
$272,500 $226,000
$230,000
$225,000
$210,000 $172,500 $142,000 $132,300
$145,000
2000
2001
$191,000 $173,000
$191,000
2002
2003
$160,000
2004
2005
2006
2007
2008
2009
Days on Market 300 200 100 0 Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09
Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10
Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09
Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10
Single Family
166
159
173
195
196
208
179
174
186
179
194
169
174
Condo
154
171
206
203
224
225
230
208
250
236
202
207
206
Single Family Condo
REO Sales ‐ By Quarter 500 400 300 200 100 0
2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 Single Family
Short Sales ‐ By Quarter
Condo
350 300 250 200 150 100 50 0
2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4
Arm's Length Sales ‐ By Quarter
Single Family Condo
1200 1000 800 600 400 200
Sarasota Association of Realtors® MLS
0 2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4