Srmagaugust2014 web by REALTOR® Association of Sarasota and Manatee

Sarasota

AUGUST 2014

REALTOR

The Official Monthly Publication of the Sarasota Association of Realtors®

SAR’s New Consumer Web Site Slated to Debut in August Page 6

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Contents

Sarasota Realtor® Magazine Volume 11, Issue 8 AUGUST 2014

Sarasota Association of Realtors®, Inc. 2320 Cattlemen Road Sarasota, Florida 34232 Phone: 941/952-3400 FAX: 941/952-3401 www.sarasotarealtors.com www.facebook.com/SarasotaRealtors

ALLinSarasota

The new SAR consumer-facing web site is set to debut in August

2014 SAR Officers

after a beta-testing period, providing a comprehensive view of the

Sarasota community from a Realtor® perspective.

President Peter Crowley RE/MAX Alliance Group

10 Focus on Commercial

NAR has released a summary of current commercial issues

that the national organization is monitoring in 2014,

with the goal of illuminating and educating members.

12 TRIM Notices

The Sarasota County Property Appraiser’s office will mail

this year’s TRIM notices to taxpayers on Aug. 18th, and will

reveal a rise in property valuations between 5 and 10 percent.

Volume 11 • Issue 8 •AUGUST 2014 4

June saw property sales once again climb over the 1,000 mark in Sarasota County, with pending sales also at a very high level, indications that the 2014 market remains strong.

25 International Strength!

The 12-month period ending in March 2014 was an amazing time for international real estate customers closing on U.S. homes, with sales figures far above the activity in recent years.

Treasurer Xena Vallone Xena Vallone Realty Immediate Past President Roger Piro Town & Country 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.

Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc.

Editorial Staff Director of Communications Ray Porter Director of Membership and Administrative Services Dan Andrews Director of Information Technology Jesse Sunday Director of Professional Development Catherine McCaskill Governmental Affairs Director Marc Mansfield Production Coastal Printing, Inc.

In every issue

Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/952-3405 or ray@sarasotarealtors.com.

10- Governmental Affairs 12- Property Appraiser

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.

15- Sales and Listing Statistics 18- Commercial Investment Division 20- Education Programs

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.

27- Pathways to Professionalism 30- Membership

32- Calendar of Events/Education AUGUST 2014

Secretary Amy Worth-Paul RE/MAX Platinum Realty

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.

15 Surge Continues

President-Elect Stafford Starcher RE/MAX Alliance Group

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Award Nominations Sought The SAR Nominating Committee is again seeking nominations for our three service awards. Nominations may be submitted by any member, nominating another member, or nominating themselves. Nomination forms are available on our website at www.sarasotarealtors.com/ awards, or e-mail peggy@sarasotarealtors.com or call 9523402 to request a form. All forms must be received by Aug. 30, 2014. Realtor® of the Year Award This award is based on the member’s lifetime contributions to the Realtor® organization, service in the community and business accomplishments. Although total contributions are considered, activities over the past three years will receive priority consideration. Humanitarian Award The recipient of this award is honored for a significant contribution as a volunteer for an organization or project in the community. Meritorious Service Award The Realtor® selected for this honor is one whose service to the Sarasota Association of Realtors® and his/her fellow Realtors® has been of such effectiveness and quality so as to deserve special recognition. The member’s service must be both consistent and valuable, and their dedication to personal professional development must be both consistent and of high quality. The member must be held in high esteem by his/her fellow Realtors®.

Real Estate Closings

Affiliate Spotlight on Cathleen Acosta The August 2014 SAR Affiliate Spotlight is on Cathleen Acosta of Stewart Title. Cathleen has been a Business Development Officer in marketing and sales for Stewart Title for over eight years and in the title business for over 10 years. She earned her title agent license in May 2012. Cathleen is currently the SAR Affiliate Committee Chair and a member of the Global Business Council, CID, Women’s Council of Realtors® - Sarasota Chapter and Gulf Coast Mortgage Bankers. When not busy Cathleen Acosta developing business for Stewart Title, she enjoys playing trivia with her husband and friends once a week, and working out at the YMCA with dance classes and yoga. Her husband, Mike, is an Environmental Engineer and they have been married for 28 years and have two boys - Greg and Alex, ages 23 and 20 (both currently in college). Cathleen can be reached at 941-921-3948, or by email at cathleen.acosta@stewart.com

Sarasota | Venice | Lakewood Ranch

Deed in Lieu Foreclosure Defense

Title Insurance Buyer/Seller Representation

Bankruptcy Probate

Contract Preparation Short Sales

Lucy McC

Attorney Cynthia A. Riddell criddell@rlglawrm.com 941-366-1300

www.rlglawrm.com

1031 Exchanges

Cover Story 6

New SAR consumer-facing web site set to launch

The new consumer-facing web site, produced by the Sarasota Association of Realtors®, debuts in August after a brief period of beta-testing with members. The site is intended to provide potential homebuyers with a unique Realtor® perspective on the Sarasota community, and everything Sarasota offers to residents and visitors alike. As the site’s opening page states, “A Comprehensive Guide to Allthe Special Amenities Offered in Sarasota, Florida Presented by the Sarasota Association of Realtors®: Sarasota, Florida has it all - world-class cultural offerings; astonishing beaches; incredible golf courses; outstanding weather; diverse lifestyle choices; and of course, top-of-the-line homes and condominiums. This can all be yours - just visit and you’ll be captured by the ambiance, the attitude, the climate, the rhythms, ryhmes and melodies that make Sarasota a unique paradise on Florida’s southwest coast.” “We’ve been working on this for some time, and we’re glad to finally unveil the web site to our members and to the public,” said Darla Furst, chair of SAR’s Communications Committee. “Even after the site goes live this month, it will always be a work in progress. Sarasota never stops evolving and it seems to get better and better every year. The web site will also grow, change and mature over time. I feel like we’re deliverying a newborn, and it’s an exciting time for SAR and the committee.” The consumer-facing web site has been a goal of SAR in several strategic plans, and has been a committee project under past chairs Andrea Smith and Brian Meskil, who put in many hours of research and planning. The process has been a labor of love and numerous alternatives were considered, but the site is now finally about the launch. The intent of the web site is not to display individual property listings, as some real estate trade association consumer sites offer. Instead, SAR leadership felt that task belongs to NAR and individual brokers and agents through their web sites. “We didn’t want to replicate what those real estate web sites already do so well, and we didn’t want to pull consumer traffic away from our members,” said Darla. “What we wanted to do is to showcase everything Sarasota has to offer. This is really intended as a love letter to our community. We’re all so proud to live and work here, and we want the whole world to see what a unique, vibrant, incredible community this is!”

AUGUST 2014

ALLinSarasota.com has several main sections - Real Estate Information; Discover Sarasota; Consumer Tools; Multimedia; Find a Realtor; and Contact. Under these major tabs are numerous interior pages, comtaining information, links, embedded sites, photos, videos, tools and much more. The Real Estate Information section contains embedded RSS feeds of national, state and local real estate news articles, refreshed daily (sometimes hourly). Consumers are encouraged to bookmark the overall web site, and particularly this interior page, to help inform their real estate buying (or selling) activities. Discover Sarasota is a section of the site we hope will gain devout followers, as we continue to inform and enlighten everyone on our unique community. In addition to guides for recreational activities like tennis, golf, boating and the beaches, we offer links to the many cultural organizations, activities and events you will find in Sarasota. In addition, there is a Community Guide page that leads to descriptions of various waterfront, golf course, condominium, gated and island communities available in Sarasota.

Sarasota Realtor® Magazine

Continued on P. 29, See ALLINSARASOTA www.sarasotarealtors.com

Official SAR Notice: Bylaws revisions proposed

Big Bowling Event coming Aug. 22

The Sarasota Association of Realtors® will host a Bowling for Veterans Team Tournament on Friday, Aug. 22 from 11 a.m. to 3 p.m. at AMF Gulf Gate Lanes, 7221 S. Tamiami Trail, Sarasota. The event is the special project of SAR’s Emerging Leaders, and the main sponsor will be SWF Home Inspections. Cost will be $25 per person, which includes shoe rental, three games and pizza and beverage buffet. All proceeds generated from the event will be donated to Bay Pines VA Health Care Sysytem for veterans, so Realtors® are urged to give generously, and give from the heart. Teams may consist of four to six bowlers, but there is limited space, so sign up at www. sarasotarealtors.com.

Selling Green: The Value Proposition

Experience The Difference...

CELE

G 11 Y E A R S O F

Sarasota Realtor® Magazine

IN AT

RVI

www.sarasotarealtors.com

Lakewood Ranch has been designated as the largest green-certified community in the U.S. Panel: Building Green: A panel of well-known builders in our community will field questions from Architect/ Realtor® David Consbruck. Following the 2-hour seminar, you are invited to take a short hop over to the Haddington community in Country Club East where a number of model homes will be open. There, you will be furnished with all the green specifications for that particular model, which range from the basic green certification all the way to the Platinum level. Bring your business cards to enter drawings for prizes! SAR Members, register online at www.sarasotarealtors.com. Others, please email catherine@ sarasotarealtors.com

A seminar and open house to learn about and preview “Green” homes will be offered on Friday, Sept. 19, 2014 from 2 to 6 p.m. at Lakewood Ranch Town Hall, 8175 Lakewood Ranch Blvd., Bradenton. The forum and open house are free and open to all. The seminar portion is 2 to 4 p.m. and the Green Model Homes Tour will be held in Country Club East, Haddington, Lakewood Ranch from 4 to 6 p.m. Refreshments will be provided! Presenting the forum will be: Kristin Triolo, Chair, Green Realtors Alliance of Sarasota Peggy Christ, Chair of MAR’s Green Committee David Consbruck, Vice Chair, Green Realtors® Alliance of Sarasota Debbie Smith, CEO, Two Trails, will walk you through the process of obtaining the different levels of Florida Green Building Coalition certifications.

In addition to the election of officers and directors, the SAR membership will vote on revisions to the Bylaws at the Annual Meeting on Tuesday, September 16th at 1 pm. Only two changes are being proposed to SAR Bylaws this year, both in Article XII, regarding quorum for meetings. In May 2013, NAR recommended associations adopt these changes to clarify that the quorum requirements for membership meetings were different from requirements for directors’ meetings. The two changes do not modify the quorum that is required, but simply make it clear as to what the requirements are for each. Current provisions of the bylaws with proposed changes indicated by strike-out and underline are available on our website under Hot Topics on the Home page of www.SarasotaRealtors.com, or contact Kathy Roberts at 952-3403 or Kathy@ SarasotaRealtors.com. During the meeting, the election of the 2015 board and officers will also be held. Officer nominees are: President: Stafford Starcher, RE/MAX Alliance Group; President-Elect: Xena Vallone, Xena Vallone Realty; Treasurer: Christina Pitchford, Allen Real Estate Services; and Secretary: Joe C. Hembree, Hembree & Associates. Directors to serve a 3-year term: Georgina Clamage, Michael Saunders & Company; Alex Krumm, RE/MAX Alliance Group; Margo MacKenzie, Wagner Realty; Steve Rider, Florida Internet Realty; and Bob Stanley, Coldwell Banker Residential. Director to serve a 1-year term: Joyce Steward, Joyce Steward Real Estate. Peter Crowley continue on the Board as Immediate Past President.

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Put yourself in a better place™

Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2013 Centex Real Estate Corporation. All rights reserved. 8/5/13. CBC057850.

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ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. Void where prohibited. All references to clubs, golf clubs and membership opportunities and other amenities NORTH

Captiva Island

Governmental Affairs

Marc Mansfield can be reached at 941.952.3410

NAR working on commercial issues

The National Association of Realtors® is committed to supporting commercial real estate members and advancing professionalism in all commercial real estate specialties. Approximately 70,000 NAR members practice commercial real estate. Because NAR is the Voice for Real Estate they are constantly monitoring and working on issues that impact commercial real estate. Shown below is a brief summary of current commercial issues being monitored by NAR: Issue: Carried Interest: Proposals to modify the existing carried interest rules could have a severely negative impact on real estate partnerships. The carried interest mechanism for real estate partnerships is a standard operating practice not historically treated as a “loophole” but rather as a reward for entrepreneurs who take risks in new projects and in making capital investments. Senator Carl Levin has introduced a bill designed to eliminate a number of so called tax “loopholes” including changing the current tax treatment of carried interest. So far the bill has no bipartisan support nor any cosponsors. NAR Action: NAR consistently opposes any proposal that would eliminate capital gains treatment for any carried interest of a real estate partnership. NAR has written to Congress regarding its strong opposition to modifying the current tax treatment of carried interest income. Issue: Lease Accounting: The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have proposed new accounting rules that would force many companies to capitalize commercial leases onto their balance sheets by requiring them to use a “right-ofuse” accounting model. This change would force lessees to shorten lease terms to minimize cost. Since Lessors raise financing by using the leases and the value of the property as collateral, the amounts they can borrow in the future could be reduced if lease terms are shortened.

AUGUST 2014

NAR Action: NAR has written letters and added its voice to express concern the new lease accounting proposal will be detrimental to the national economy by reducing the overall borrowing capacity of many commercial real estate lessees and lessors. NAR continues to work with FASB/IASB to ensure that any modifications to lease accounting rules will not negatively impact commercial real estate practitioners. Issue: Bonus Depreciation: In 2013 the American Taxpayer Relief Act extended the 50% bonus depreciation rule for qualifying property purchased and placed into service before January 2014. The provision allowed businesses to take depreciation of 50% of the value of the property in addition to amounts that they can otherwise claim under the depreciation rules. NAR Action: Bonus Depreciation rules have expired although they are still in effect through 2014 for certain transportation property. NAR is urging Congress to extend this provision as it considers the extension of other important tax provisions that have also expired at the end of 2013. In addition to the issues shown above, NAR is also working on the following issues as Congress moves toward adjournment for a portion of 2014: Commercial Lead Based Paint Regulations Dodd-Frank PCCRA Rules EB-5 Program Energy Deduction 179D Leasehold Improvements

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Florida Realtors® Releases 2014 Member Profile Are you a 56-year-old woman working in residential sales? Did you make $56,000 last year and have $6,560 in business expenses? If so, you’re exactly average. Florida Realtors® released its latest report on membership, the “2014 Member Profile – Florida Realtors® Report.” The 2014 report, which looks at characteristics for 2013, found the following trends in Florida: Business characteristics of Realtors® in Florida • 67 percent are licensed as sales agents; 77 percent specialize in residential brokerage. • The typical Realtor® has 11 years experience. • 71 percent of Realtors® in Florida have had a website for at least 5 years; 14 percent have a real estate blog; 57 percent use social media. • The most commonly found information on websites, among commercial and residential Realtors®, is the member’s own listings. • 84 percent say they are very certain they will remain in the business for at least two more years. Business activity of Realtors® in Florida • Agents typically had 12 transactions in 2013. • 23 percent of residential brokerage specialists had at least one commercial transaction side in the last year. • 57 percent had a transaction involving a foreclosure; 55 percent had a transaction involving a short sale. • Typical agent sales volume was $1.7 million in 2013. • For the first time, the difficulty finding the right property surpassed the difficulty in obtaining mortgage financing as the most cited reason for potential client limitations.

• The typical property manager managed 75 properties. (Nationally, it’s only 30.) • Most Realtors® work 40 hours per week. • The typical Florida agent spends a median of $260 maintaining a website. • A website brought in 4 inquiries and 3 percent of an agent’s business. Income and expenses in Florida • The median gross income in Florida was $46,400. (Nationally, it’s $47,700, an increase from $43,500 in 2012.) • Members with 16 or more years of experience had a median gross income of $62,200. • Median business expenses were $5,880. • The largest single expense category was vehicle expenses, reported as $1,700 in 2013. Office and firm affiliation in Florida • 78 percent of members are affiliated with an independent company. (Only 57 percent are nationally.) • Eight in 10 members are independent contractors. • The median tenure a Realtor® had with his or her current firm was four years. • 7 percent worked for a firm that was bought or merged in the past two years. Demographic characteristics of Realtors® in Florida Professional Environmental Consulting • The typical Realtor® is a 56-year-old white female who attended college and owns a home. • 55 percent of Florida members are female. Experienced Assistance for the Real Estate Industry • For 79 percent, real estate is their only Reliance offers a discount to SAR members occupation; for members with 16 or more years on Due Diligence Services: experience, it’s 89 percent. • Phase I and II ESAs • Ecological Surveys • In Florida, the median gross income of • SBA Loan Experience • Soil & Groundwater Testing Realtor® households was $92,100 in 2013. (It’s • Dry Cleaner Assessment • Gas Station Investigations $105,500 nationally.) A realistic, no-nonsense approach. We listen to your • A substantial majority of Realtors® in Florida – needs and move the process forward, fast. 83 percent – own their primary residence. The full 2014 Member Profile – Florida ASSESSMENTS TO REMEDIATION—WWW.RELIANCEENV.COM Realtors® Report is available online. From Florida Offices in Downtown Sarasota, FL & Lancaster, PA Realtors’ research page go to “Other Research Reports,” and click the dropdown box under 888.735.2008 “Other Resources.” - © 2014 Florida Realtors®

www.sarasotarealtors.com

Sarasota Realtor® Magazine

AUGUST 2014

Property Appraiser

2014 TRIM Notices to be mailed Aug. 18th

2014 TRIM Notices scheduled to be mailed August 18th

Preliminary Taxable Values for Sarasota County and Municipalities Reported to the Florida Department of Revenue on July 1, 2014. (2013

Although the look of the Notice of Proposed Taxes, (TRIM) hasn’t changed from last year, many other things here at the Property Appraiser’s Office have changed a great deal. We’ve By embraced the GRI, trendCRS, away CRB from “bricks and mortar” toward Bill Furst, values are as of July 1, 2013) an online business model. Sarasota County Property Appraiser Although the look of the Notice of Proposed Taxes, (TRIM) hasn’t changed from lastfiling year,program many other thingsupgraded here at the  Our online homestead exemption has been to 2013 Sarasota County: $40.75 billion Propertyfor Appraiser’s Office have changed a greatand deal. We’ve accept applications widow/widower, civilian disability, veteran 2014 Sarasota County: $43.46 billion embraced the awaymilitary from “bricks andapplications mortar” toward disability exemptions andtrend deployed discount in an +6.65% model. application. conjunctiononline with abusiness new homestead - Our online homestead exemption filing program has been 2013 City of Sarasota: $7.19 billion upgraded accept applications widow/widower, civilian  Our Tangible PersonaltoProperty online filingfor program has been updated 2014 City of Sarasota: $7.59 billion disability, and veteran disability exemptions and deployed +5.53% to allow existing account holders to upload Excel files to our system using military discount applications in conjunction with a new their own inventory numbers. Because all existing accounts are sent homestead application. 2013 City of Venice: $2.82 billion unique filing passwords every year, CPAs using the online program no - Our Tangible Personal Property online filing program has 2014 City of Venice: $3.02 billion longer havebeen to follow up with paper copiesaccount with original signatures. updated to allow existing holders to upload Excel +6.95% We’ve also files added video tutorial newown filers. Heads-up for 2015: Due to aour system usingfortheir inventory numbers. Because to the enthusiastic adoption of our filing system we will no longer all existing accounts are online sent unique filing passwords every year, 2013 Longboat Key: $3.40 billion CPAsDR-405 using the online program no longer have to follow up mail preprinted forms to existing accounts. 2014 Longboat Key: $3.57 billion with paper copies with original signatures. We’ve also added a +5.18 % th video18tutorial new filers. Due tointhe  Starting August TRIMfor notices will beHeads-up available for on 2015: our website PDF enthusiastic adoption of and our saving. online filing will no format, allowing for easier printing 2014system values we have been 2013 North Port: $2.41 billion longer mail preprinted DR-405 forms to existing accounts. available online since mid-July. 2014 North Port: $2.65 billion - Starting August 18th, TRIM notices will be available on +10.00% our website in PDF format, allowing for easier printing and Our experienced and knowledgeable appraisers and exemption specialists are saving. 2014 values have been available online since mid-July. still here and available to meet with you in person or over the telephone about Our experienced and knowledgeable appraisers and exemption any issues relating to exemptions or property values. What’s new is you can now specialists are still here and available to meet with you in person Save Our Homes Assessed Value do the nuts-and-bolts processabout from home or onrelating your mobile device. or or application over the telephone any issues to exemptions Increase for 2014 property values. What’s new is you can now do the nuts-andDo you have questions aboutfrom valuehome or exemptions? bolts application process or on your mobile device. Every year, as provided by §193.155, Do you have questions about value or exemptions? Florida Statues, the assessed value of The State of Florida provides three ways inprovides which athree property canachallenge The State of Florida waysowner in which property homestead property increases no the values reportedowner by thecan Property Appraiser or the disapproval an challenge the values reported by theofProperty more than 3% or the increase in the exemption. You canAppraiser use one, two or disapproval all three of these options. You can use one, or the of an exemption. Consumer Price Index (CPI), whichever two or all three of these options. is lower.  As I mentioned earlier, property owners may always meet with one of - As I mentioned earlier, property owners may always meet our appraisers exemption specialists. sharingspecialists. of information goes For 2014 the CPI is 1.5% withorone of our appraisers or The exemption The sharing of resolving information goes a long way to resolving or most a long way to most issues. Call 941.861.8200 visitissues. eitherCall of visit either of our offices. Directions and As an example, a 2013 assessed value our offices. 941.861.8200 Directions andor contact information are available on our contact information are available on our website at www.SC-PA. of $100,000 will increase to $101,500 website at www.SC-PA.com. com. for 2014. From the date theTRIM Notices are mailed there is a 25 day  From the date theTRIM Notices are mailed there is a 25 day window in window in which a property owner may file a formal petition which a property owner may file a formal petition with the Value For more with the Value Adjustment Board (VAB) to contest the Property AdjustmentAppraiser’s Board (VAB) to contest the Property Appraiser’s or is printed at the lower right portion of the information, value or exemption decision. The filingvalue deadline contactexemption the decision. The filing printed the lower rightthe petition process. Information on how to file (in TRIM Notice. Thedeadline Clerk of isthe CircuitatCourt oversees Property portion of the TRIMorNotice. of the Circuit oversees petition process. Information on how to person online),The andClerk applicable fees, is Court available on thethe Clerk’s website, www.sarasotaclerk.com. Appraiser file (in person- or online), and applicable fees, is available on the Clerk’s website, www.sarasotaclerk.com. A third option to challenge values or exemption eligibility is to file suit in Circuit Court within 60 days Bill Furst’s after the Tax Roll is certified for the collection of taxes. If you choose to file a petition with the VAB and office at you do not agreevalues with the VAB decision you may 60 days days after after the VAB  A third option to challenge or exemption eligibility is tofile filesuit suitininCircuit Circuit Court Court within 60 941.861.8200. renders a decision in your case. If you choose this route you may wish to consult with a legal professional. Tax Roll is certified for the collection of taxes. If you choose to file a petition with the VAB and you do not agree with the VAB decision you may file suit in Circuit Court within 60 days after the VAB renders a decision in your 12 AUGUST 2014 Sarasota Realtor® Magazine www.sarasotarealtors.com case. If you choose this route you may wish to consult with a legal professional.

2014 Notice of Proposed Property Taxes (TRIM) Guide Account # is a unique number identifying your property

SARASOTA COUNTY TAXING AUTHORITIES 2014 NOTICE OF PROPOSED PROPERTY TAXES AND PROPOSED OR ADOPTED NON-AD VALOREM ASSESSMENTS

Tax bills are mailed in November by the Tax Collector’s oﬃce

Taxing authorities

Know your

are the government bodies authorized to levy taxes on the property; includes county, school board, municipalities, etc.

hurricane evacuation zone

Taxable value is assessed value minus your exemptions. The taxable value is multiplied by the tax rate set by each of the governing authorities to establish your ad valorem property tax bill

Market value is the property appraiser’s determination of value as of January 1. The following are considered: the selling price of comparable properties, income derived from the property, the replacement cost of improvements and other factors such as location and condition

AD-VALOREM TOTALS

CONDOMINIUM

Assessment reductions are benefits and use classifications which result in additional savings on your tax bill. The amount reflects the difference between market and assessed value

SAMPLE SAMPLE SAMPLE

Exemptions are shown for the current and prior tax years. If you are missing an exemption for which you applied, please contact our oﬃce immediately

With the QR code you can use software on your smartphone to take a picture of this code and view your parcel data on our website

If you have questions about the market value set by the property appraiser’s office or feel you should have qualified for an exemption not shown, please contact our office for an informal review. The

deadline for ﬁling a petition appears on your notice

Refer to the back side of your TRIM notice to view the following: 1) the public hearing information for ad valorem taxing authorities listed above, 2) your non-ad valorem assessments, and 3) additional explanation of the columns shown above. The sum of the ad valorem and non-ad valorem assessments may provide an estimate of your total tax bill. Your ﬁnal tax bill may contain non-ad valorem assessments from districts which have elected not to participate on this notice.

www.sarasotarealtors.com

Sarasota Realtor® Magazine

AUGUST 2014

Distressed property sales drop in second quarter Distressed sales in the second quarter of 2014 dropped to 18.5 percent of overall sales in Sarasota County, another positive trend as our real estate market moves toward normalcy. Foreclosures and short sales were at 22.5 percent for the first quarter of 2014. Compared to the worst stages of the market following the Great Recession when only half of sales were normal market sales, the percentage of distressed sales has dropped by two-thirds. Distressed sales in the Sarasota market were nearly zero in early 2007, before the national real estate market troubles began. The second quarter of 2013 saw distressed sales at 23.2 percent, and in the second quarter of 2012 they were at 32.4 percent. If this trend continues, we could see distressed sales continue to drop as a percentage of overall sales, which in turn means overall higher median sales prices as the market contines to return to more normal times. The national trend is also positive. The latest figures from NAR show distressed homes – foreclosures and short sales – accounted for 11 percent

of May sales, down from 18 percent in May 2013. Eight percent of May sales were foreclosures and three percent were short sales. Foreclosures sold for an average discount of 18 percent below market value in May, while short sales were discounted 11 percent. The lower percentage of available distressed properties in the Sarasota market continues to impact the statistics. The current market inventory contains a higher number of normal market offerings. The inventory figure for distressed

properties on the market is currently at 12 percent. The figure has hovered in the 10 to 12 percent range for over a year. While the future is always uncertain, national and state trends point toward a continuing improvement in the economic forecast, with employment continuing to improve, home construction rebounding, and interest rates remaining near record lows. The “feeder markets” of the northeast that normally supply much of the buying power in Florida and the Sarasota region continue to improve, which should bode well for the next few months. While there remains uncertainty, both nationally and globally, the current trends appear promising.

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AUGUST 2014

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Property sales again top 1,000 in Sarasota County

For the fourth straight month, property sales in Sarasota County topped 1,000 in June 2014, continuing a hot streak and signaling burgeoning strength in the local real estate market. Closed sales in June this year totaled 1,048, an improvement of 5.1 percent from the June 2013 figure of 997 sales. The breakdown was 727 single family homes and 321 condos sold, according to figures in the My Florida regional MLS system. Closings were off slightly from last month (May), when they hit 1,100 exactly. The first half of 2014 remains ahead of the near record sales pace of 2013, an historic year for property sales in the county with the second highest number of sales in SAR’s 91 year history. “We are continuing to see heavy foot traffic at open houses and at brokerages across the county,” said Sarasota Association of Realtors® President Peter Crowley. “While we have seen a marginal slowdown in the road traffic as some residents head north for the summer, there seems to be unusually high visitor numbers this summer. People want to come to Sarasota, now more than ever!” Distressed sales remained far below the levels experienced four years ago, indications of a strong market returning to historic norms. In June 2014, 20.1 percent of total sales were short sales or foreclosure sales. This was up slightly from the 19 percent figure in May 2014, but lower than June 2013, which saw 23 percent distressed sales. Single family homes and condos median sale price figures were both $195,000 in June 2014, the first time since 2013 that condo prices were equal to or greater than single family home prices. The median sale price for single family homes was about 2 percent higher than May’s figure of $191,500, and 8 percent higher than last June’s figure of $180,000. June’s condo median price was 11.4 percent higher than May’s figure of $175,000, and 18 percent higher than last June’s figure of $165,000. The median sale price for the www.sarasotarealtors.com

“So far, we’ve had an amazing first half of 2014.” - SAR President Peter Crowley 12-month period ending in June, which moderates monthly swings, was $190,000 for single family homes, about 15 percent higher than the previous 12-month period. For condos, it was $170,050, up 8.8 percent over the previous 12-month period. Pending sales remained strong in June 2014, hitting 901 after last month’s total of 1,042. This should translate to sales in July coming in slightly below the June numbers. Last June, pending sales were at 899 – almost identical to this year – and sales in July 2013 were at 969. Inventory levels dropped again in June 2014 to 4,196 from May’s figure of 4,513, a fairly significant one month decline of 7 percent. Last June, inventory stood at only 3,758 homes and condos for sale in the county. The low point in the recent market was in July 2013 at 3,747, far lower than the current level. The month’s supply of inventory stood at 4.6 for single family and 4.2 for condos. Last month, those figures

the

were 5.0 and 4.6 respectively, and last year at this time they were 4.2 and 4.3 respectively. “So far, we’ve had an amazing first half of 2014,” said Crowley. “The statistics appear to indicate that we will once again wind up at near record sales levels for the year, and median sale prices have also rebounded significantly.”

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Sarasota Realtor® Magazine

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AUGUST 2014

Sarasota MLSSM Statistics - June 2014 Single Family

Unit Sales

Condo

800 700 600 500 400 300 200 100 0 Jun‐13

Jul‐13

Aug‐13

Sep‐13

Oct‐13

Nov‐13

Dec‐13

Jan‐14

Feb‐14

Mar‐14

Apr‐14

May‐14

Jun‐14

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Jun‐13

Jul‐13

Aug‐13

Sep‐13

Oct‐13

Nov‐13

Dec‐13

Jan‐14

Feb‐14

Single Family

Average Median DOM Sale Prices

Mar‐14

Apr‐14

May‐14

Jun‐14

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

% Price Original

$195,000

$189,000

4.6

627

21.4

772

91.9

$180,000

$166,500

4.2

630

25.3

756

94.0

24.0

$191,500

$189,900

5.0

738

27.1

843

92.0

‐

$192,000

‐

4,246

‐

5,669

‐

#Active #Sold

%Sold

This Month

2,927

727

24.8

This Month Last Year

2,493

660

26.5

Last Month

3,109

747

YTD

‐

3,966

Statistics were compiled on Sarasota County properties in the MLS as of July 15th, 2014. Single-family statistics are tabulated

using the property style single-family home. 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.

Source: Sarasota Association of Realtors® 16

AUGUST 2014

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - June 2014 Single Family

Inventory

Condo

4,000 3,000 2,000 1,000 0 Jun‐13

Jul‐13

Aug‐13

Sep‐13

Oct‐13

Nov‐13

Dec‐13

Jan‐14

Feb‐14

Mar‐14

Apr‐14 May‐14

Jun‐14

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Jun‐13

Jul‐13

Aug‐13

Sep‐13

Oct‐13

Nov‐13

Dec‐13

Jan‐14

Feb‐14

Mar‐14

Apr‐14

May‐14

Jun‐14

Condo This Month This Month Last Year Last Month YTD

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

% Price Original

1,269

321

25.3

$195,000

$173,500

4.2

274

21.6

296

91.9

1,265

337

26.6

101

$165,000

$158,000

4.3

269

21.3

297

92.5

1,404

353

25.1

$175,000

$170,000

4.6

304

21.7

370

92.4

‐

1,990

‐

$180,000

‐

2,012

‐

2,493

‐

Statistics were compiled on Sarasota County properties in the MLS as of July 15th, 2014. Condo statistics include condo, coop, villa and townhouse. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. 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

AUGUST 2014

Despite disappointing Sales Volume Sales Prices economic performance 20% and severe winter weather in parts of the 10% country, commercial Realtors® reported 0% broad-based market improvements in the -10% first quarter 2014. -20% In keeping with the upward momentum in -30% the markets, Realtors® rated the direction of -40% Source: National Association of Realtors® commercial business opportunities 6.0 The average transaction price moved from $1.2 percent ASSOCIATION higher in the of REALTORS® | RESEARCH DIVISION NATIONAL | www.realtors.org/research-and-statistics 3 first quarter 2014, an improvement over the 5.0 percent million in the fourth quarter 2013 to $1.4 million in the first quarter 2014. rise from the fourth quarter 2013. In a noticeable change, commercial Realtors® reported On a year-over-year basis, sales increased 11 percent that the most significant concern during the first in the first quarter, as prices rose 4 percent. Cap rates quarter was a shortage of available inventory. continued compressing with a 50 basis point decline, from an average of 8.7 percent in the fourth quarter The second major concern was the pricing gap 2013 to 8.2 percent in the first of this year. between buyers and sellers. After several years of topping the list of concerns, financing dropped to a Multifamily properties recorded the lowest average distant third place, signaling a marked shift in market cap rates, at 7.7 percent, followed by hotels, at 7.6 conditions over the past six months. percent. Office and retail spaces posted identical cap rates of 8.0 percent, while industrial properties recorded The full NAR commercial report can be found at capitalization rates of 8.1 percent. www.realtor.org/research-and-statistics/

Lori Hellstrom, 2014 CID President

% Change, year-over-year

Commercial Investment Division

Commercial sales rise in first quarter

CID Monthly Meeting Schedule

Commercial Marketplace Sessions Increase visibility for your properties, learn of new opportunities, and exchange information with commercial professionals. Deals are made at these sessions. 1st, 2nd & 4th Fridays at the SAR Auditorium 3rd Friday at the MAR offices The monthly general meeting (3rd Tuesday) includes a Marketplace session, giving members at least five opportunities each month to promote their listings and network with fellow members.

Officers:

quarter, as prices rose 4 percent. Cap rates continued compressing with a 50 basis point decline, from an average of 8.7 percent in the fourth quarter 2013 to 8.2 percent in the first of this year. Multifamily properties recorded the lowest average cap rates, at 7.7 percent, followed by hotels, at 7.6 percent. Office and retail spaces posted identical cap rates of 8.0 percent, while industrial properties recorded capitalization rates of 8.1 percent.

2014 CID Officers & Directors

President: Lori Hellstrom, Osprey Real Estate Services President-Elect: Tim Mapp, Mapp Realty Vice-President: Tony Veldkamp, Sperry Van Ness Secretary: Ron Struthers, Coldwell Banker NRT Treasurer: Dave Roth, RE/MAX Alliance Group Past President: Linda Emery, Sperry Van Ness AUGUST 2014

Commercial Marketplace Sessions - Friday, Aug. 1st, 9 a.m. - SAR Auditorium, 2320 Cattlemen Road, Sarasota - Friday, Aug. 8th, 9 a.m. – SAR Auditorium - Friday, Aug. 15th, 9 a.m. – MAR, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, Aug. 22, 9 a.m. – SAR Auditorium - Friday, Aug. 29, 9 a.m. - SAR Auditorium CID General Membership Meeting - Tuesday, Aug. 19th, 8 a.m. - TBD - SAR Auditorium- CID Members Only

Directors: Rico Boeras: Sarasota Commercial Realty (3 years - 2016) Charlie Brown: Insignia Bank (3 years - 2016) Susan Goldstein: Michael Saunders & Company (2 years 2015) Roberta Kolton: Michael Saunders & Company (2 years 2015) Peter Skokos: Norton Hammersley (1 year - 2014) Joe C. Hembree: Hembree & Company (1 year - 2014)

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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Education Programs

Get 14 Hours of CE during the summer Title: 14 Hours CE License Renewal (Cost - $79 for members, $99 for non-members) Date/Times: Aug. 12-13, 9 a.m. to 5 p.m. Title: Core Law (Cost - $30 for members, $50 for non-members) Date/Time: Aug. 12 at 9 a.m. to Noon Instructor: Tyler N. Thomas Register at www.sarasotarealtors.com The Institute of Florida Real Estate Careers (IFREC) will be the provider for this license renewal course. This session provides the full 14 hours of continuing

1031 Exchanges are topic of seminar Title: Everything You Wanted to Know About 1031 Exchanges But Did Not Know to Ask Instructor: Jefferson (“Jeff ”) Riddell, Esq. Date/Time: Wednesday, Aug. 27, 9 to 11 a.m. Cost: SAR Members: $10; others $15 3 Hours CE Don’t miss this session with attorney Jeff Riddell! Learn about the history and basic rules of 1031 exchanges. Learn how forward (regular) and reverse Exchanges work in the real world. Find out about tax trip-ups and common myths about 1031 exchanges. Identify

situations ripe for 1031 exchanges and learn how to get more listings and sales by pointing out these opportunities. Jeff Riddell is a Florida Bar Board Certified Real Estate attorney practicing over 40 years. Jeff has been facilitating 1031 exchanges for over 25 years and is the President of U.S. 1031 Exchange Services, Inc., a qualified intermediary company. Jeff has published many articles on real estate transactions and most recently published a book about real estate investing titled: 21st Century Real Estate Investing.

Boot Camp returns in September Title: Realtor® Boot Camp Location: SAR, 2320 Cattlemen Road, Sarasota Dates/Times: Sept. 9, Sept. 11, Sept. 16 and Sept. 17, 1 to 3 p.m. Cost: $10 per session

Catherine McCaskill, Professional Development, can be reached at 941.952.3404

education needed for license renewal. The 14 hour session includes 3 hours of Core Law, which can be taken separately. No exam will be required. The course is being taught by Tyler N. Thomas, GRI, BS/BA from University of Central Florida, Licensed Real Estate Broker Associate. This course offers timely information for licensees in short, lively lessons, and contains all new license law and FREC rule changes. Continuing education is vital to your real estate career. Knowledge is power, and the real estate industry is always changing. The commitment of time and energy is well worth it for your business future!

Mining for Gold Sept. 9 Instructor: Karen Schwartz, Prime Residential Brokers Practical pointers for obtaining hardto-find information; learn how to be a buyer sleuth and find the need-to-know answers; listing agents will learn how to use the BEST tool possible (MLS entered data) to sell their listings. Knowledge Is Power: Navigate Contracts with Confidence and Competence - Sept. 11 Instructor: Paul Blucher, Esq. Spend two hours and get a shot of contract power from an experienced attorney! AUGUST 2014

Simplifying Your Success Sept. 16 Instructor: Alex Krumm, RE/ MAX Alliance Group Secrets that work! We have a collection of the best tips to amplify your skill, while simplifying your work! Efficiency is key and you will learn top tips and tricks. Mission accomplished if you leave with even a few new tips to help your success! Professional and Profitable - Sept. 17 Instructor: Denise Oyler, Rosebay International Inc. Learn how to put the whole package together: customer service, communication and lead conversion; learn how to divide your time and attention to get the most bang for your buck.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Get a handle on the market statistics Title: Become Your Market Expert - An Introduction to Industry Data and Analysis Date/Time: Aug. 27, 1 to 4 p.m. Location: SAR Auditorium Instructor: Pat Tan, CIPS, GRI, RSPS Cost: $10 to SAR members; others $15 3 Hours CE The use of statistics and data analysis is commonplace in our daily lives. We are bombarded with numbers everywhere – the newspaper, television, magazines and online. Advertising in these media is filled with statistics. But exactly what are these numbers telling us? Numbers can be manipulated to make you believe something that is not true. This course will assist you in determining the “truth” of the statistics by showing you where the numbers come from to see if your source will impact your presentation to your clients.

Who Should Attend: This course is designed for the student who is not good at math or has never had a statistics course. It provides the basics that you need to succeed in today’s fast-paced real estate environment. The course will present the basic concepts of working with statistics and charts in the real estate industry. After completing the course, students will be able to calculate the mean and median and explain the difference between them. Students will also learn how to read and explain graphs and charts to their Pat Tan customers. Earn 3 hours of CE with Florida Realtors® faculty member Patricia Tan.

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www.sarasotarealtors.com

Sarasota Realtor® Magazine

AUGUST 2014

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Improve your basic MLS skills in August

Pre-registration is required for all MLS classes at the web site gopherit.mfrmls.com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot! If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR). MLS Basic Aug. 12 or Aug. 28, 9 a.m. to Noon Mandatory session for all new users, to be completed within 60 days of joining. This class will teach both new and returning agents the basic functionality including search, printing and emailing. You will also learn about additional resources and member benefits provided by My Florida Regional MLS, and more. The class is also available online at: http://mfrmlsuniversity.com at your convenience.

MLS Compliance 101 Aug. 12 or Aug. 28, 1 to 2:30 p.m. This is a mandatory class for all new members to be completed within 60 days of joining. Existing members must complete the class every two year period, current period May 1, 2012 – June 30, 2014. In this class you will learn about the My Florida Regional MLS Rules and Regulations and compliance procedures for accurately listing properties in the MLS Database, along with additional educational materials available on MFRMLSUniversity.com. • Rules and Regulations • Profile Sheet Terms • iSmart Tool Adding/Modifying Listings Aug. 12 or Aug. 28, 3 to 4:30 p.m. This class is mandatory if you will be adding and modifying listings in the MLS (but all agents are welcome to attend!) You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.

www.sarasotarealtors.com

This class is available through live webinars or you may attend at SAR. • Profile Sheets • Adding listing information to MLS • Adding Photos, attachments and open houses • ShowingTime and Virtual Tours Matrix Auto-Emails & Concierge (Lab) Aug. 6, 2:30 to 4 p.m. You will learn how to send a search to a contact by either using autonotification email directly to the contact or Concierge Mode, which allows you to preview and approve properties before they are sent to your contact. You will also learn where to find and manage all of the emails you send from Matrix Managing My Matrix (Lab) Aug. 6, 1 to 2p.m. Aug. 7, 3:30 to 4:30 p.m. Learn about accessing and adding contacts, how to manage them, and understand the contact display. Also learn where to find your saved searches (from MLXchange/Fusion) and how to update them. Matrix Add/Edit (Lab) Aug. 7, 2 to 3 p.m. Aug. 21, 3:30 to 4:30 p.m. Learn where to find fields to enter/ update your listings, upload photos, attach documents. This course does not qualify for any registered MLS class. Personalizing My Matrix (Lab) Aug. 6, 9 to 10:30 a.m. Aug. 21, 2 to 3 p.m. You will set up how your contact

Sarasota Realtor® Magazine

information is displayed within the different sections of Matrix including verifying your contact information, email signature, header and footer display on reports, and CMA cover sheet. You will also learn how to set up your Portal Greeting, manage the information and order of the agent information on the Portal Welcome page (information the customer will see), set up your Agent Web Page, and configure your custom grid displays. Customization of Hot Sheets and the Market Watch widget will also be included in this lab. Searching in Matrix (Lab) Aug. 6, 10:30 a.m. to Noon You will learn how to perform Quick, Detailed, and Speed Bar searches in Matrix. The Quick Search gives you basic default fields within each listing type. Detailed offers more options and allows you to add additional search fields. The Speed Bar uses specific key words and abbreviations to search for listings, open houses, agents, and offices in a single search field. You will also learn how to search by map and print and email search results. REALIST (Auditorium) Aug. 7, 11 a.m. to 1 p.m. Realist is a public-records database that provides in-depth property and ownership data, market information, street and aerial maps (including interactive, advanced mapping features), as well as market trends. Realist will provide many businessenhancing features. Matrix Training at SAR (LIVE Auditorium) Transition to Matrix Aug. 21, 11 a.m. to 1 p.m. Learn about navigation and basic functionality in the new Matrix system - searching, adding contacts, auto e-mails, hotsheets, and CMAs. This course does not qualify for any required MLS class.

AUGUST 2014

*Up to 10 platinum coins can be turned in a doubled, not to exceed a total bonus commission of $10,000. Available only on select inventory homes. Coins may be turned in on any contract through September, 30, 2014 through medallionâ&#x20AC;&#x2122;s regular Platinum Coin Program.

International buying way up in 2014 We live in a global marketplace. While all Estimated U.S. Existing Home Sales Dollar Volume real estate is local, not all to International Buyers (in Billion Dollars, 4/2013-3/2014) property buyers are. A $92.2 significant share of home $ 82.5 purchases are made by people whose primary $ 66.4 $68.2 residence is outside the U.S. This year’s NAR Profile of International Home Buying Activity examines purchases of real estate in the United States by international clients for the 12-month period ending in March 2011 2012 2013 2014 2014. Highlights percent reporting declining. having international clients. - $92.2 Billion of purchases sold to foreign buyers, 12 International is a niche market, - Foreign buyers are upscale: with relatively few Realtors® months ending March 2014 Mean purchase price above that paid by domestic buyers. - Sales split approximately 50/50 handling most transactions: e.g., 4% of Realtors® have 11 or more between resident and non-resident - Five countries (Canada, China, clients foreigners. Mexico, India, U.K.) accounted for - Market fluctuates from year 54 percent of foreign sales. - Foreign sales approximately 7 to year substantially; long term percent of $1.2 Trillion existing For the complete report, visit market trend is up: 20 percent of home sales (EHS) market. www.sarasotarealtors.com/about/ Realtors® report market increasing international.cfm - 28 percent of Realtors® reported over past 5 years compared to 6

International Real Estate Congress Coming Sept. 24th The 2014 Sarasota Association of Realtors® International Real Estate Congress is set for Wednesday, Sept. 24, at SAR Headquarters, 2320 Cattlemen Road, Sarasota 34232. The event will be held from 9 a.m. to 4 p.m., with lunch and networking reception after. Register now for the annual signature program of the SAR Global Business Council. Cost is $30 for Global Business Council members, $50 for non-Global Business Council members (includes continental breakfast, lunch and reception with wine and hors d’oeuvres. With a current GBC membership of 225, space is limited, so don’t delay registration! “Don’t bet against Florida!” Those were the words of Dr. Lawrence Yun several years ago when our real estate market was in decline. He was right! So don’t miss our industry’s premier economist’s presentation on Sept. 24! There is something for everyone in the program: residential, commercial, green, global and technology. Speakers and topics include: - Economic Update - Dr. Lawrence Yun, Chief Economist for NAR www.sarasotarealtors.com

Global Business Council

92%

- The Market from a Builder’s Perspective Moderator Harold Bubil, Herald Tribune Real Estate 4 | P a g e Editor. Panelists include builders Steve Ellis, MyGreen Buildings; Jack Cox, Halfacre; Roland Nairnsey, London Bay Homes - International Impact on Business Development in Sarasota, Mark Huey, CEO, Economic Development Corporation - EB-5 Regional Center Program: Opportunities for Realtors® with Foreign National Clients, RJ de Varona, CFO, The Solution Group, EB-5 Regional Center, Miami, FL - Top Technology Tools for Today’s International Real Estate Agent with CRB instructor John Mayfield - Jean Maday, Development Manager, Commercial & Global Services, National Association of Realtors®. For more information on registration or sponsorship opportunities, contact Catherine McCaskill at 941952-3404 or Catherine@sarasotarealtors.com. More info is available at www.sarasotarealtors.com/about/ international.cfm Sarasota Realtor® Magazine

AUGUST 2014

CanWCR help you make money?

Everyone wants a decent return on their investment. The investment that you make in yourself, whether it be on personal improvement or in business, should bring expected results if it’s a good investment. That investment can be your time and energy and your money for continued education and professional development. The results and rewards can be a growing bank account or an increased self-awareness and confidence level. Involvement in any organization has its rewards. You’ve heard this before….you will gain more, the more you are involved. Right? How can Women’s Council help you grow and help your business prosper? Did you know that in Women’s Council: • Member’s Average Experience in Real Estate is 17 years • The Percentage of Members Who Are Male is 10 percent • The Average WCR Member’s Income from Real Estate in 2012 was $101,420 vs. the average among all Full-Time Realtor®: $34,900 • Average commission income from WCR Member-to-Member Referrals in 2012: $11,713. The 2014-16 Strategic Framework Issues and Objectives include the following: Issue: Referral and Network building Objective: Provide members with regular opportunities to build a network for referrals and professional contact as a strategy to achieve business goals. The strategy to accomplish this includes “intentional networking” activities planned at meetings to support members in building productive business-to-business relationships, including referrals. We do this at most meetings and participants give very positive feedback about the exercises. Issue: Education and Business Tools Objective: Ensure that Council education and business tools reflect timely needs and issues of women business owners, drive bottom-line business

results, and address the core skills of the Realtor® business leader. The strategy to accomplish this includes providing access to education and business tools taught in a format members prefer. Women’s Council provides members with free online training modules that are designed to help strengthen skills as a business owner such as: “Why Using WordPress is a Winning Idea” “Google for Real Estate Professionals” “Technology Secrets that Help Agents Win at a Higher Level” “Five Marketing Must-Dos in Real Estate” Women’s Council has a designation program entitled “Performance Management Network.” The Performance Management Network’s suite of professional performance training courses is taught by recognized experts who dig deep into the hot topics that are driving the marketplace and shaping your business. Two of the courses included are: Effective Negotiating for Real Estate Professionals The Business of Your Business: Formula, Financials, Function & Freedom At a chapter level the monthly Business Resource meetings are planned to provide education that will impact the bottom line for the members. The programs are designed to provide current info and include hot topics of interest to our membership. INVEST IN YOURSELF. We welcome guests and hope that you can plan a visit to one of the next Business Resource meetings. The following is a schedule of meetings for the rest of the year: - University Park Country Club August 8 September 17 - Fashion Show - Polo Grill - The Oaks Club October 8 November 14 - Lakewood Ranch Country Club December 12 - Bird Key Yacht Club Meetings are 11 a.m. - 1:15 p.m. Please contact Tina Darling at TinaDarling@Comcast.net or Kristin Triolo at Kristin.triolo@gmail.com for more information or to make a reservation.

2014 Leadership Team

Susan Phelps WCR President

Susan Phelps President Berkshire Hathaway Florida Realty Phone: 941-906-7653 sarasotasuze@gmail.com

Tina Darling Membership/Marketing Chair Innovative Agent Services Phone: 941-921-5027 tina@floridaassistant.com

Marla Leung Secretary Koontz & Associates Phone: 941-225-2615 marla@koontzassociates.com

Kristin Triolo President-Elect Florida Homes eBroker Phone: 941-725-2486 kristintriolo@floridahomesebroker.com

Alfredda Smith-Odato Treasurer RE/MAX Alliance Group Phone: 941-360-7777 fred@alfredda.com

Jacqueline Abney Corresponding Secretary Berlin Patten Phone: 941-954-9991 jabney@berlinpatten.com

AUGUST 2014

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Editor’s Note: One of the goals in SAR’s 2014 Strategic Plan is to increase the professionalism of our members so they are recognized as true professionals and trusted advisors. Pathways to Professionalism is the National Association of Realtors® voluntary guide to professional courtesy, originally created in 1998. Each issue of the magazine will include a column to increase members’ awareness of the key concepts in the document. As Realtors®, we have the have privilege to access what can be the most important investment to an individual … their home. Keeping a home show-ready could be an arduous task for a Seller, particularly if they have children, animals, or are elderly. Often, they take extra time to prepare the home for the prospective buyer. With this in mind, it is important to remember to schedule showings as far in advance as possible and keep within the time frame of scheduled appointments. If you are going to be early or late, take a moment, explain to the Buyer that you had a scheduled appointment and out of courtesy to the owner, you would like to notify them of any time changes. This takes only a moment. It can be difficult to stick to the schedule if a buyer spends more or less time than you allotted for a property. But being respectful to the property owner is important. The same courtesy should be extended for all scheduled appointments including vacant homes, because there are times when a property is listed as vacant or un-occupied only to find a family member or friend is in town for vacation. Be sure to

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knock before opening the door and announce yourself upon entry. A simple ‘Hello” in a moderate level of voice will give you a heads up if someone is there or hasn’t left the home on time. What should you do when arriving at a property and the Buyer says they no longer want to see it? Here are some helpful scripts: 1. I understand. Since we had a scheduled appointment, the Seller has likely prepared the home. Could we take a brief tour? This may also help you when comparing homes, neighborhoods and prices. We will only stay a moment or two. 2. I understand. Since the home may have been prepared for showing, would you mind if I take a brief look inside? It will be helpful when we find your perfect home as I will have a first-hand understanding of this home and how it may compare to the one you ultimately choose. 3. Yes, I can see that this one is not appealing to you. Since we’ve got a confirmed appointment and the Seller has likely prepared the home for your arrival, why don’t we take a brief look inside. This will also help us stay on schedule for the next scheduled showing If it is clear the Buyer is not interested in spending another minute there, then pick up the phone to call the listing agent or appointment center. Apologize for the short notice and let them know you will not be entering the home. When you do show, don’t forget to leave your business card. The homeowner and listing agent will surely appreciate your professionalism.

Sarasota Realtor® Magazine

AUGUST 2014

Pathways to Professionalism

Tip: Schedule home showings far in advance

Realtor®-Attorney Joint Committee 28

Property taxes can apply to partially completed homes By Michael P. Infanti, Esq. Realtor®-Attorney Joint Committee

2. Whether individual self-sufficient units of the improvement are substantially complete, even when the entire complex is not complete: Regrettably, many homeowners incorrectly believe that a partially completed home will remain classified The test for substantial completion is not always as vacant land, and that the improvements will not whether the entire complex is substantially complete. be subject to ad valorem property taxes, as long as Instead, if certain self-sufficient units within the the certificate of occupancy has not been issued, and complex are substantially complete, those selfthe final improvements remain under construction. sufficient units will be assessed a taxable value. In believing so, some homeowners purposely delay Courts have held that self-sufficient units could include individual condominium units, lobby areas, the final inspection for the certificate of occupancy, parking areas, dock and pier areas, roof structures, or the completion of certain improvements, until after January 1, with the hope of deferring the tax to pools, elevators, and systems for plumbing and air conditioning. If these self-sufficient units are the next calendar year. Unfortunately, no such bright-line test exists under substantially complete, and may be used for the purpose for which they were constructed, then they Florida law. may be assessed a taxable value regardless of whether Pursuant to Florida Statute § 192.042: the entire construction project remains incomplete. “All property shall be assessed according to its just 3. Marketability: value as follows: Real property, on January 1 of each This factor considers whether a structure is year. Improvements or portions not substantially completed to the extent that it could be marketed completed on January 1 shall have no value placed for a present or future financial gain. For shell thereon. “Substantially completed” shall mean that buildings, this inquiry depends on whether the the improvement or some self-sufficient unit within individual units within the shell may be sold to a it can be used for the purpose for which it was buyer who could subsequently complete and occupy constructed.” the unit. The statute intends to subject real property 4. Impediments to substantial completion improvements to ad valorem property taxes when the within the taxpayer’s control: improvement is “substantially complete.” Generally, Although Florida courts have not yet interpreted if an improvement to real property can be put to this factor, the Florida Attorney General has stated the use for which it was intended, it is deemed that an owner/developer cannot purposefully cause a substantially complete for tax purposes. delay in construction in order to avoid an assessment When Is a Property “Substantially Complete”? and taxes. On the other hand, if an improvement is In the past, Florida courts have held, and the not substantially complete for the purpose for which Attorney General has agreed, that tax appraisers it was constructed by January 1 due to delays which may properly consider several factors in determining are not within the control of the owner/developer whether an improvement is “substantially complete” (e.g., natural disasters, poor weather conditions for tax purposes. These factors include: which delay construction and contractor delays, etc.), then the improvement would arguably not be 1. Fitness for occupancy: subject to an assessment and taxes. For structures intended to be fully finished To summarize, improvements to real property buildings, fitness for occupancy is an important criterion in judging substantial completion. Whether may be subject to ad valorem property taxes when the improvements are “substantially complete.” or not a certificate of occupancy has been issued, Generally, if an improvement can be put to the use and whether or not all required inspections have for which it was intended, it is deemed substantially been completed, may help determine whether the complete for tax purposes. In order to determine improvement is substantially complete. However, if the improvement is substantially complete, the substantial completion does not mean that a certificate of occupancy must be issued, or that every tax appraiser may consider a host of factors, as well last detail of construction or ornamentation must be as perform on-site inspections and examinations of building department records. Ad valorem finalized. tax assessments may be challenged before the Instead, a structure may be deemed substantially Value Adjustment Board and in the court system. complete even where the certificate of occupancy Settlements with the property appraiser’s office may has not yet been issued, or where certain finishing also be negotiated. There are strict time deadlines for touches remain under construction. challenging the property appraiser’s assessment. AUGUST 2014

Sarasota Realtor® Magazine

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ALLinSarasota.com will serve as SAR’s comprehensive showcase of the Sarasota community to consumers and the public.

ALLinSarasota From Page 6

“In many cases, we aren’t reinventing the wheel, but we are repackaging information in a way that we hope makes it easier to find the information you are looking for related to Sarasota,” explained Andrea Smith, past chair of the Communications Committee. “For example, we have embedded a page created by Sarasota County that explains our history and heritage. There are many great informational web sites that tell the story of Sarasota, and we hope to bring that story to millions more viewers.” ALLinSarasota.com will be promoted to SAR members for their use in interactions with their clients and potential

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clients. We will encourage members to share the rich content with those who plan to visit here, and those who eventually may purchase a home here. SAR would like to extend a special thanks to Detlev von Kessel, local photographer and videographer, who has supplied beautiful photos and videos for use on the web site. His work, which has also been featured on www. sarasotarealtors.com and in Sarasota Realtor® Magazine, will continue to be displayed on ALLinSarasota.com as the site continues to evolve and improve. “This will always be a work in progress, and we encourage our members, and the public, to make recommendations and offer constructive criticism to help us continue to improve the site’s content and functionality,” said Darla.

Sarasota Realtor® Magazine

AUGUST 2014

Membership News Dan Andrews, Membership Director, can be reached at 941.952.3408

The Association is pleased to welcome new members!

Designated Realtors®

Bernstein, Emily: Bernstein Brokers LLC Ford, James: Suncoast Rental Management LLC Lee, Linda: Real Estate Auctions.com Mannausa, Thomas: T Mannausa & Company Inc. Morgan, Kathleen: Morgan Johnson Realty LLC Neal, John: Neal Communities Realty Inc. Rowe, William: KJIMS Real Estate LLC

New Members

Alanis, Adrian: Keller Williams On The Water Allen, Tylerp: Century 21 Beggins Enterprises Anzellini, Vincenzo: RE/MAX Alliance Group Arthur, Gregory: The Sarasota Real Estate Comp. Aulwurm, Catherine: Jennette Properties Inc. Benson, Pamela: Coldwell Banker Res R E Boron, Ray: Key Realty Bremner, Jennifer: Coldwell Banker Res R E Brown, Valarie: Coldwell Banker Res R E Burrows, Thomas: Hembree And Assoc Inc. Cacciatore, Anthony: Keller Williams On The Water Chakos, Timothy: Coldwell Banker Res R E Champlin, Montgomery: Coldwell Banker Comm. NRT Chanoski, Renata: DWELL Real Estate Chapman, Alicia: RE/MAX Alliance Group Coleman, Janice: Exit King Realty Cox, Jody: Exit King Realty Curtin, Scott: Exit King Realty Dawson-Lugen, Lillie: Jubilee Real Estate Corp. Dean, Lewis: Keller Williams Lakewood Ranch Dreyer-Basham, Madeleine: Coldwell Banker Res R E Fuda, Vincenzo: Michael Saunders & Company Gardner, Greg: Florida Sun Realty Corp. Germain, Robyn: Homes By Towne Realty Inc. Griffin, John: Mangrove Realty Associates Hellstrom, Evelyn: Carmel Properties Hendricks, Claire: Jubilee Real Estate Corp. Hundersmarck, Gregory: Coldwell Banker Res R E Kabinoff, Adam: Keller Williams On The Water Kasmirski, Cherylann: Bright Realty Kreiser, Troy: Blakeley & Associates Realty Krupke, Lori: Coldwell Banker Res R E Lucchesi, Alex: Horizon Realty International Maasdorp, Jennifer: Integra Realty Group McDonnell, Andrew: Bright Realty Michael, Faith: Berkshire Hathaway HomeService Miller, Neenah: Keller Williams Realty Miller, Jacqueline: Keller Williams Rlty Manatee Moran, Michael: Atchley International Realty Neaverth, Dawn: Florida VIP Realty Inc. Nelson, Charlene: Quest Properties Inc. Olivieri, Diana: Florida Bayside Realty Pangallo, Artab: Coldwell Banker Res R E Perez, Jesus: Horizon Realty International Pletcher, John: Coldwell Banker Res R E Refay, Mona: DWELL Real Estate Russell, Melanie: Quest Properties Inc.

AUGUST 2014

Schauble, William: Atchley International Realty Seddon, Lora: Coldwell Banker Res R E Sgroi, Linda: Florida Elite Homes Inc. Smith, Marvin: Keller Williams Lakewood Ranch Thompson, John: Homes By Towne Realty Inc. Trexler, John: RE/MAX Alliance Group Trombley, Drew: Coldwell Banker Res R E Vasvary, Leanell: Rosebay International, Inc. Verinder, Monica: Michael Saunders & Company Wagner, Debbie: Coldwell Banker Res R E Way, Laura: RE/MAX Alliance Group Weiss, Leslie: RE/MAX Alliance Group Weisser, Debra: Michael Saunders & Company Wiegand, Kevin: Argus Realty Group Inc. Wiseman, Sandra: Keller Williams On The Water

Now With ...

Alley, Peta Edwin Alley Lic R.E. Broker Anzellini, Vincenzo: RE/MAX Alliance Group Basham, David: Coldwell Banker Res R E Chanoski, Renata: DWELL Real Estate Cole, Susan: Berkshire Hathaway HomeService Czako, Adrienn: Rosebay International, Inc. Dahl, Margaret: Wagner Realty Dalmas, Debbie: Bright Realty DAngelo, David: Michael Saunders & Company Fernandez, Laura: Key Realty Fisher, Scott: Coldwell Banker Res R E Ford, James: Suncoast Rental Management LLC Fox, Ana: Medway Realty Gardner, Greg: Florida Sun Realty Corp Henderson, Mark: Auction World USA LLC Herter, Jami: Wagner Realty Jannopoulo, Jean: Atchley International Realty Jones, Timothy: Berkshire Hathaway HomeService Kedzierski, Dennis: Berkshire Hathaway HomeService Keeble, Julie: Atchley International Realty Klein, Kari: RE/MAX Alliance Group Krijger, Claudette: Exit King Realty Lee, Frank: Coldwell Banker Res R E Ley, Harold: Michael Saunders & Company Lyons, Amelia: Medway Realty Meszaros, Marta: M&M Property Management Group Morgan, Kathleen: Morgan Johnson Realty LLC Nanfelt, Stephen: Medway Realty Pittman, Troy: Exit King Realty Pitts, Elizabeth: Premier Sotheby’s Intl. Realty Quigley, Kelly: Michael Saunders & Company Rogers, Annette: Premier Sotheby’s Intl. Realty Sgroi, Linda: Florida Elite Homes Inc Shane, Gail: Premier Sotheby’s Intl. Realty Sikdar, Rinat: Michael Saunders & Company Tsiperovich, Alice: Premier Plus Realty Walker, Ingrid: DWELL Real Estate Walters, Gregory: Charles Rutenberg Realty Inc. Welte, Nancy: Florida Dream Team Realty Svcs Wolfenbarger, Tamara: Berkshire Hathaway HomeService

Sarasota Realtor® Magazine

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New Affiliates

101 Mobility 5975 Cattlemen Lane Sarasota, FL 34232 Phone Number: 941-378-0797 Representative: Charles J Vollmer Specialty: 101 Mobility Sarasota is a locally owned and operated business committed to serving neighbors across the Sarasota Area. Owner Chuck Vollmer is a proud local resident and takes great pride in providing Florida families and businesses with a one-stop-shop for professionally installed mobility solutions. Mobility & Accessibility, Equipment, Sales, Rentals, Installation and Service. Email: cvollmer@101mobility.com Aflac 1882 Porter Lake Drive Sarasota, FL 34232 Phone Number: 917-833-7323 Representative: Jessica Lee Specialty: Aflac provides supplemental insurance for individuals and groups to help pay benefits your major medical insurance doesn’t cover. Aflac helped protect their policyholders from the unexpected costs that illness can bring. AFLA covering the unexpected costs that can come with injury and illness. Aflac’s mission is simple: to be there when you need us the most. Today, we insure over 50 million people worldwide to help them recover from an accident or illness. Aflac ensures that everyone in its family — employees, clients, and policyholders — is covered. Email: Jessica_lee@us.aflac.com Amerispec Home Inspections-SRQ 11471 Newgate Crest Drive Sarasota, FL 33579 Phone Number: 941-365-6050 Representative: Eric Quirk Specialty: Let AmeriSpec® help reduce the discovery of unfortunate and costly repairs with a home inspection. We understand that purchasing a home takes a lot of your time and energy, and that’s why AmeriSpec® provides you with The AmeriSpec Report. The AmeriSpec Report is a comprehensive evaluation providing detailed information on the condition of a property. This report makes it easy to reference specific items if questions arise about the home inspection. Insurance Inspections, Radon, well water…. Email: inspectoreric@verizon.net Estate Inspection Services, Inc. 6940 Friendship Dr. Sarasota, FL 34241 Phone Number: 941-914-5922 Representative: Sean McCoy Specialty: Our goal is to provide you with the absolute best home inspection experience you will ever have, so we treat your time, money, and property as if they were our own! At Estate Inspection Services, we believe that www.sarasotarealtors.com

one of the most precious assets anyone has, is time, which is why we go above and beyond to make sure that your time investment is not wasted. Offering Commercial & Residential Inspections; Wind Mitigation and 4 Point inspections. Email: estateinspections@gmail.com GSS Title LLC 6150 53rd Avenue East Bradenton, FL 34203 Phone Number: 941-914-9520 Representative: Jenna Bussey Specialty: GSS is a progressive Title Insurance Agency that employs cutting edge technology to deliver an outstanding ‘high touch’ customer service experience to Buyers, Sellers and Real Estate Agents. Email: jenna@gsstitle.com Modern Movers Moving & Storage 4505 30th St. W. Bradenton, FL 34207 Phone Number: 800-226-4663 Representative: Robert Broderick Specialty: Modern Movers is a team of professionals involved in all aspects of full-service moving, packing, storage and warehousing. Over the years, Modern Movers has mastered the details and complexities involved in moving, delivering and storing its Customers’ household goods and valued possessions. We are a prominent Full Service Moving Company that has exceptional ability to service the community during hurricanes, real estate explosions or economic insecurities, all of which define ‘Who We Are’. Today, Modern Movers, with its “can-do” and “thank-you” attitudes, continues its commitment to providing the finest facilities and expertise to YOU, our Valued Customer, ensuring the most cost-effective, comprehensive and professional Relocation Services. Email: bob@movefla.com PCS-Pestguard Commercial Svcs 4274 Independence Court Sarasota, FL 34234 Phone Number: 941-358-3863 Representative: Charles M Kane Specialty: Pestguard Commercial Services provides a widerange of services specifically designed for each individual community, condominium, and homeowner association, commercial property, and residential customer. Pestguard’s state-certified team members have been designing and delivering high quality service solutions for communities throughout Florida for over 20 years. Pest Control Services includingTotal Protection Plan for pests & Termites, Grounds Maintenance Services, Structural Fumigation, Insect, Disease and Weed Control Services for Turf and Ornamentals, WBO Inspections, Tree & Palm Services, Rodent Control, Bed Bug Elimination and Irrigation Services. Email: charliek@pestguardtermite.com

Sarasota Realtor® Magazine

AUGUST 2014

E DUCATION & E VENTS C ALENDAR Tuesday

Wednesday

Thursday

Friday

July 28

Aug. 1

FR Convention Orlando

8 a.m. GRI Course 100 Series (Module 102)

8 a.m. GRI Course 100 Series (Module 103)

9 a.m. Orientation 1 p.m. Code of Ethics

8 a.m. GRI Course 100 Series (Module 102)

8 a.m. GRI Course 100 Series (Module 103)

9 a.m. 14 Hours Continuing Education 9 a.m. MLS Basic 9:30 a.m. Point 2 (Brokers) 11 a.m. Point 2 (Agents) 1 p.m. Compliance 3 p.m. Add & Modify

8 a.m. CID General Membership Meeting

5 p.m. Affiliate After Hours Networking Gecko’s on Hillview)

9 a.m. Searching Matrix 11 a.m. Adding & Editing 1 p.m. Quick CMA 3 p.m. Personalizing Matrix

7:30 a.m. Toastmasters 9 a.m. Personalizing Matrix 10:30 a.m. Searching Matrix 1 p.m. Managing Matrix 2:30 p.m. Matrix—AutoEmails & Concierge

8 a.m. MLS Express (SAR) 9 a.m. MLS Basic 1 p.m. Compliance 3 p.m. Adding & Modifying

8 a.m. MLS Express (UPCC) 11 a.m. Realist 2:30 p.m. Matrix—AutoEmails & Concierge 3:30 p.m. Managing Matrix

12:00 p.m. 8 a.m. RAJC Seminar: Inspections MLS Express (SAR) & Repairs: Procedures & Pitfalls

7:30 a.m. Toastmasters

9 a.m. 1031 Exchange Seminar 1 p.m. Become Your Market Expert Seminar

9 a.m. CID Commercial Marketplace (SAR)

9 a.m. CID Commercial Marketplace (MAR)

8 a.m. MLS Express (SAR) 11 a.m. Transition to Matrix 2 p.m. Personalizing Matrix 3:30 p.m. Matrix Add/Edit

9 a.m. CID Commercial Marketplace (SAR) 11 a.m. Realtors Bowling for Veterans (AMF Gulf Gate Lanes)

8 a.m. MLS Express (SAR)

9 a.m. MLS Basic 1 p.m. Compliance 3 p.m. Adding & Modifying

9 a.m. CID Commercial Marketplace (SAR) 10 a.m. Listing Book

Note: All events/classes are at SAR, 2320 Cattlemen Road, except where noted

My Florida Regional MLS Training

The My Florida Regional MLS training classes are offered at no cost to MLS participants. Please register for all MLS classes at the MFRMLS website: http://gopherit.mfrmls.com. Click on “Class Registration.”

Sarasota Association of Realtors®, Inc. 2320 Cattlemen Road. Sarasota, FL 34232

Monday

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

AUGUST 2014