Sarasota Realtor Magazine - February 2011 by REALTOR® Association of Sarasota and Manatee

FEBRUARY 2011

Homer Time Anthony Homer, 2011 CID President, seeks to leverage the power of the commercial network Page 6

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Contents

Sarasota Realtor® Magazine Volume 8, Issue 2 FEBRUARY 2011

Sarasota Association of Realtors®, Inc.

Youthful Leadership

Anthony Homer assumes the CID presidency as the year begins. What are his leadership goals, and how does he hope to accomplish them?

10 Top Priorities

What are NAR’s major concerns and initiatives for 2011? Find out what the national organization’s chief priorities are for the current year.

12 Foreclosure Fallout

What are the potential tax revenue implications of the current market reality of higher percentages of short sales and foreclosures?

15 Market Strong

The December 2010 sales statistics continued the upward trend

as the local real estate market ended the year on a positive note.

28 Working Together

2011 WCR President Cindi Jackson encourages networking and positive partnerships in the new year.

Volume 8 • Issue 2 •FEBRUARY 2011

In every issue

10- Governmental Affairs 12- Property Appraiser 15- Sales and Listing Statistics 18- Commercial Investment Division 20- Education Programs 24- On the SAR Scene 27- Broker Corner 28- WCR News 30- Membership News 32- Calendar of Events/Education

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

2011 Officers President Michael Bruno Prudential Palms Realty President-Elect Laura Benson Michael Saunders & Company Secretary Dave Swenson EXIT Creative Realty Treasurer Roger Piro Town & Country Realty Immediate Past President Erick Shumway RE/MAX Alliance Group 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

Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24!

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. Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 or ray@sarasotarealtors.com. Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor ® magazine. A yearly subscription for Sarasota Realtor ® magazine is available to non-members for $25, plus Florida sales tax.

ON THE COVER: What a difference six years makes! This photo of 2005 CID President Janet Robinson was taken near the groundbreaking site for Lakewood Ranch’s Main Street - the same area of this month’s cover with 2011 CID President Anthony Homer! FEBRUARY 2011

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. 2011 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Realtor® Quest promotes Sarasota to Canadian market

The Sarasota Association of Realtors® has reserved a booth at the big Realtor® Quest event in Toronto, Canada on May 4-5, and is now offering limited time slots to SAR members. Only nine spots are available, so don’t delay – register today. The deadline for payment is either March 18 or whenever all spots are sold, whichever occurs first. Each participant can purchase only one slot prior to the payment deadline. The dates and times are May 4, 8:30 a.m. to 6 p.m., and May 5, 8:30 a.m. to 4 p.m. The cost for each two-hour slot is only $200. Slots at the end of each day are $150, and are for 90

minutes. There is an additional $40 charge per person for show passes, which gives access to lunch and snacks More Canadians purchase real estate in Florida, particularly on the west coast, than any other nationality. This is your chance to connect with 8,000 Realtors® at Realtor® Quest, Canada’s largest Realtor® trade show and conference. Maximize your marketing potential in the Canadian market, business to business, with Realtors® around the Toronto area. Call Catherine McCaskill, 328-1167, for details, or see the item under Hot Topics at www.sarasotarealtors.com .

Danielle Hallman of The Oaks Club: SAR Affiliate of the Month for February 2011 Danielle Hallman, membership and marketing director for The Oaks Club, is the SAR Affiliate of the Month for February 2011. Danielle is a valuable employee at Sarasota’s most prestigious club Danielle Hallman community. Danielle wears many hats at The Oaks Club. She guides the club’s membership sales and retention program, as well as its marketing, advertising, communications and public relations initiatives.

An accomplished member relations professional with more than 15 years experience, Danielle is a polished speaker and special events coordinator who helps strengthen The Oaks Club’s special appeal to residents, visitors and real estate agents and brokers. She entered the hospitality sector in 1994 and is familiar with virtually all aspects of club communities. She earned a business and marketing degree from Pensacola Junior College and a bachelor’s degree from State College of Florida in Bradenton. She also has an (inactive) real estate license. Danielle can be reached at 941966-5415 or by email at dhallman@ theoaksclub.com

Who benefits from Mortgage Interest Deduction? It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington Post’s January 1 editorial, “Trim the Excessive Tax Subsidy for Real Estate.” In fact, the MID actually benefits primarily middle- and lower-income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families. The MID helps many families become home owners by reducing the carrying costs of owning a home. The ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home last year with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 5 percent, could save nearly $3,500 in federal taxes when they file next year. That’s real money they can use to pay down other debts, save for their children’s college education, or put away for retirement. It’s no wonder, then, that most Americans support the MID. In fact, in a recent NAR survey by Harris Interactive of 3,000 home owners and renters, nearly three-fourths of home owners and two-thirds of renters said the MID was extremely or very important to them.

Unlike the very rich, much of whose wealth is tied to the stock market, the wealth of most middle-class American families is connected to their home. Millions of these Americans bought their homes with the understanding that mortgage interest is tax-deductible, and many of them have steadily paid down their mortgages to build equity in their home. Eliminating or reducing the MID would destroy part of this hard-earned equity for all home owners, independent of their tax filing status. Furthermore, we also need to be mindful that home owners already pay 80 percent to 90 percent of U.S. federal income tax, and this share could rise to 95 percent if the MID is eliminated. Proposals that would remove certain tax benefits in return for lower tax rates just may hold for one or two terms of Congress before the tax rates are changed again. Americans are not naïve; they understand the nature of Washington politics. For people who don’t have hundreds of thousands of dollars in savings to buy a home outright, tax benefits like the MID help them begin building their futures through home ownership. In a time when the middle class faces increased economic pressures, you can be sure that the National Association of Realtors® will remain actively engaged to ensure that hard-working, home-owning families continue to receive this important benefit. - NAR

Cover Story 6

Building Partnerships CID President Anthony Homer seeks to expand group’s influence

For more, see CID column, P. 18, and Brad Lindberg article, P. 19

Networking has become second-nature to Anthony Homer, 2011 president for the Commercial Investment Division (CID) of SAR. His life has been an international adventure that shaped his business perspective and eventually led him to sunny Sarasota, Florida. “Growing up in Hong Kong was the most influential part of my childhood,” said Anthony, noting the biggest difference apart from the language and culture was the freedom he experienced at an early age “to explore the city and the larger than life adventures which grew out of those explorations. There were so many different opportunities and I took them all.” By the time Anthony returned to the United States to attend college (Liberty University in Virginia), he had worked full time at an artificial intelligence research startup, led hiking expeditions, spent time traveling in Asia, and “sweat through summers as a teenage pack mule for a wilderness camp.” He recalled that the real world education he enjoyed in his teens “made it second nature (for me) to adapt to circumstance and people around me, which has proven very useful in this changing commercial real estate landscape.” As the new CID president, Anthony is determined to bring his well-honed international networking background and instincts to the organization’s agenda for 2011. “My goal is to be involved in bringing in businesses which create jobs, which in turn fosters a more dynamic and exciting area in which to live,” said Anthony, a commercial Realtor® with LWR Commercial Realty. “Looking forward, I want to become more involved in local economic development by attracting global companies.” Anthony cites recent developments, such as the establishment of the HuB entrepreneurial business organization, and the new $14 million DEAL (Design and Economic Acceleration Lab) which would house key economic development staff and resources from both counties in one building as evidence the area is

FEBRUARY 2011

moving in the right direction. In the bigger picture, Anthony wants the CID to embrace networking with other local business and professional organizations in hopes of broadening the organization’s influence and reach. He believes his personal experience and background is well-suited to attaining those goals. Anthony’s relatively short real estate career began in 2006, and yet he has experienced a meteoric rise in SAR through the CID. He is a current member of the SAR board of directors, and also on the Florida Realtors® board, having won the state organization’s Newcomer of the Year Award in 2009. He served as the first chair for the Sarasota Young Realtors® group, and is also the vice president of Business Development for the Sarasota Sister Cities Association. Anthony also has family connections in the industry, as his wife, Coquina, is the daughter of Joe Hembree, president and founder of Hembree and Associates. The firm has been a mainstay of local commercial real estate since 1985. The couple has two children – Cole, 5, and Adam, 3. “I love learning about new businesses and understanding how they work, which has made commercial real estate a really interesting job,” explained Anthony. “I got my license in April of 2006, which was the high watermark for the commercial real estate boom in Sarasota. At the time, I was learning about cash flow and testing scenarios against deals being negotiated, so I could understand how the principles applied. I couldn’t make any sense out of them at the time and in hindsight, neither could the buyers! In some ways, the upheaval in the market has benefited me as a newcomer because clients are willing to take more risks in marketing and selling their properties.” Anthony has been with LWR Commercial for a little over a year, and says he is looking forward to spending the rest of his career within the Schroeder Manatee Ranch organization. “Living in California’s Silicon Valley in 2001, there was a palpable creative energy and hardworking risktakers were rewarded,” Anthony recalled. “That is the Sarasota-Manatee I want my kids to grow up in. I don’t want my kids to have to move away because of limited

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The Homer family is shown on Main Street in downtown Lakewood Ranch - from left, Coquina, Adam (3), Cole (5) and Anthony. career choices.” He left the door open to exploring political involvement, if that would help achieve those goals. A natural leader, Anthony has already taken on major responsibilities in SAR and the CID, and has also become involved in many local and state issues, like the successful fight against Amendment 4. Anthony has also emceed several events for the association, and actively participated in the strategic planning process, along with other SAR board members. He hopes his input will help lead SAR and the CID to explore potential change that might seem revolutionary or cutting edge to some. A self-confessed “tech geek”, Anthony also wants to push the envelope by promoting advanced technology in commercial real estate. “Mobile web apps have changed the way I do business,” he noted. “I can take my kids to the beach and do business from my iPhone without missing a step. On a tour with some out-of-state clients, they told me what they needed was not to increase their facility sizes in Fort Myers and Sarasota, but to open a new location in between. In the back of the car on I-75, I was able to pull listings from Port Charlotte and drive

www.sarasotarealtors.com

them by the property. We signed a lease 30 days later.” Anthony believes our area enjoys an unrivaled combination of climate, culture, capital and diversity. With all of these advantages, the future looks bright for Sarasota and the surrounding region. “From a technical standpoint, we have all the pieces to compete globally for design and innovation and the capital to fund those endeavors. We lack talent, the human capital, to sustain those sparks of creativity and carry them through a first and second round to create new and sustainable enterprises,” explained Anthony. “We need to re-brand Sarasota- Manatee as an exciting area where young entrepreneurs can live the gulf coast lifestyle of surfing, kite-boarding, boating - and not just golf, golf, golf. Now we need more entrepreneurs!” Anthony’s high degree of community involvement gives him a unique perspective and insight into the local commercial real estate market, and will clearly enable him to assist SAR and the CID in fulfilling future goals and visions. “We’re in the right place at the right time, and I couldn’t be any more optimistic than I am right now,” said Anthony.

Sarasota Realtor® Magazine

FEBRUARY 2011

J o i n t h e C lu b WCI Introduces the

Commission CluB* Who AlreAdy QuAlifies for 6% Commission?

• Any current actively licensed Realtor® who resides in one of the following WCI Communities, Pelican Preserve, Venetian Golf & River Club or Tiburón.

• Any Realtor® who sold a new WCI Home from July 1 – Dec. 31, 2010.

hoW CAn you QuAlify?

Sell one new WCI Home in 2011 at 4% Commission and automatically be eligible for 6% Commission on all subsequent new WCI Home sales until June 30, 2011.

AddItIonAl ProgrAm elements

• ACCess to CluB FACIlItIes – use of Club dining facilities and VIP rates for golf.**

• reCognItIon as a 6% Commission Club member in our monthly Realtor® communications.

• PrIorItY lIst stAtus – be the first to receive new product info and invitations to special events. Coming soon

FoRt MyeRs

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Homes from the low $200s

NaPles

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Homes from the $700s

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WCICommunItIes.Com • 800-WCI-2290 *Contact Sales Director for complete terms & conditions of the 6% Commission Club program. The commission on each residence shall be paid at closing to applicable broker for contracts on new WCI Homes that are fully executed between January 1 and June 30, 2011. Contact Sales Director at Community Sales Center for specific closing requirements. This expires June 30, 2011, and is subject to cancellation without notice. The 2011 6% Commission Club Program cannot be combined with any other WCI commission program. The commission shall be calculated and paid in accordance with WCI’s Co-Broker Commission Program Agreement. This program is subject to the registration procedures, terms and conditions set forth in WCI’s Co-Broker Commission Agreement. **Eligibility and access to dining, club facilities and VIP Golf Rates vary by community and are subject to individual club rules and regulations. Pricing and availability subject to change without notice. All references to clubs, membership opportunities and other amenities are subject to fees, dues and availability. Void where prohibited. ©2011 WCI Communities, Inc. All rights reserved. CGC 058796

Participate in our Gold Medallion Treasure Hunt and start collecting $500 gold coins* redeemable when you sell a Medallion Home in any of our neighborhoods.

Here’s how it works: • Visit www.medallionhome.com to locate a sales center near you and pick up a treasure map with details about our neighborhoods. • Receive a $500 Gold Medallion* at each neighborhood that you visit. • Sell a Medallion Home and receive $500* for each coin collected, in addition to your commission at closing. Must present coins at time of registration. • No more than 10 Medallions ($5000 value)* may be redeemed per sale. • Partner with your team to collect Medallions and split the bonus. • Visit all seven Medallion neighborhoods by 1/31/11 and qualify for a drawing to win a weekend getaway for two to Longboat Key Club. Includes accommodations, dinner at Sands Point or Portofino on Friday and Saturday, breakfast in bed on Sunday, and a massage for two at the Island Spa House. See treasure map for details. • Be the first to know about new neighborhoods, floor plans, events, and special opportunities to receive additional Medallions. Opt-In to receive text messages by sending a text to 368638. In the message area type “MedallionHome Realtor.” Send. When you receive a message, type in “1.” Send. Respond to next message by typing “yes.” Send. Show that text to the sales rep at any Medallion Home Neighborhood. Be one of the first 100 to opt-in and get an additional 2 $500 Gold Medallions.* *

Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Not valid with any other promotion.

www.medallionhome.com/sar • 2212 58th Ave East • Bradenton

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Governmental Affairs 10

What are NAR Public Policy priorities for 2011?

By Marc Mansfield Governmental Affairs Director

The National Association of Realtors® is the largest professional trade association in the United States and represents approximately 1.1 million members. The NAR Governmental Affairs division is responsible for advocating on behalf of the organization and interacts with Congress on a frequent basis. During the 112th Congress, NAR will be working on a number of issues that directly or indirectly impact Realtors® and the real estate industry. Below is a summary of those issues targeted by NAR for 2011:

Taxation

Mortgage Interest Deduction: NAR opposes any changes that would limit or undermine current law. Capital Gains Exemption: NAR opposes any changes to the capital gains exemption on the sale of a home. Estate Tax Reform: NAR supports repeal of the estate tax but opposes the portion of the repeal that requires the use of the so called “carryover basis.” If the estate tax were to be revised, NAR supports the lowest possible rate (but in no event a rate higher than the maximum individual tax rates) and a substantial exclusion (currently about $3 million). Depreciation-Tenant Improvements: NAR supports efforts to establish a permanent rule that more accurately reflects the depreciable lives of buildings and to conform amortization periods for tenant improvements more closely to the term of the lease.

Real Estate Finance

Government Sponsored Enterprises: NAR is recommending that Fannie Mae and Freddie Mac be converted into government chartered, nonshareholder owned authorities that are subject to tighter regulations. Mortgage Loan Limits: NAR supports making the current higher loan limits and formula permanent. Federal Housing Administration Programs: NAR is a strong supporter of the single and multi-family programs administered by the FHA. NAR Credit Policy: NAR is calling on the credit and lending industries and federal regulators to reassess the entire mortgage lending policy structure and look for ways to increase the availability of credit to qualified borrowers who are good credit risks. Short Sales: NAR continues to push the lending industry to expedite short sales. Real Estate Settlement Procedures Act (RESPA): NAR supports HUD’s new RESPA rule in general. NAR supports transparency in the home buying process and clear disclosures to customers of loan terms and the fees charged by settlement providers. NAR specifically FEBRUARY 2011

rejects HUD’s contention that the marketing of home warranties is a mere referral.

Energy and the Environment

National Flood Insurance Program: NAR recommends renewing and strengthening the long term viability of the federal flood insurance program including comprehensive coverage for non-primary residences (e.g., rental properties and second homes) and reforms to provide “full risk” premiums for most repetitive loss structures in many states. NAR also supports funding to update and improve the accuracy of flood maps. Natural Disaster Policy: NAR supports a federal program that promotes the availability and affordability of property insurance nationwide. Energy Efficiency and Climate Change: NAR supports improving energy efficiency through voluntary incentives in lieu of individual building mandates. Commercially reasonable approaches that advance market and smart-growth principles of protecting private property rights and maintaining real estate affordability and availability. Additionally, NAR supports educating property owners and consumers about the benefits of energy efficiency. NAR opposes requirements which impose undue economic burdens on property owners or managers; triggering such provisions at a time when property is sold; and expanded application of existing laws/regulations that are not suited to address climate change.

Sarasota Realtor® Magazine

Continued on P. 31, See PRIORITIES

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* c r H

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Ask about our 2011 REALTOR® incentive program! *Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CGC1505166 ©2011 Pulte Home Corporation. All rights reserved. 1/5/11

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

Foreclosure Fall Out FORECLOSURE FALL OUT

What are the potential tax revenue impacts? We’re all aware of the flood of foreclosures that has buried the national, statewide, and Sarasota County real estate themarket. Homestead Exemption

for By Bill Furst, GRI, CRS, CRB 2010. Our data show that the total Sarasota The affectsCounty of this torrent of distressed properties and depressed values Property Appraiser show no signs of running out of steam. value of exempted taxes (due to the

We’re all aware of the flood of Homestead and other exemptions as as press any Save Homes There has been a lothas of discussion in the well Florida latelyOur about the taxCaps), foreclosures that buried the amounted to just over $159,000. revenue impact of foreclosures. Several publications have jumped on the national, statewide, and Sarasota fact that foreclosing lenders reap the benefit of the defaulted owner’s Hardly a windfall for the foreclosing County real estate market. Homestead Exemption and Save Our Homes Cap in the year in which they lenders. Thepossession. effects ofThethis torrent of made out to be an aberration for the take situation is being We’ve received many requests for distressed properties depressed exclusive benefit of theand lenders. easily accessible foreclosure location values show no signs of running out and ownership information Such is not the case. If the defaulting owner occupied the property as their from of steam. thein community permanent residence as of January 1 the Realtors® exemption and remains place for the at There has been a lot of discussion entire year. A lender taking possession bylarge. Certificate of Title treated no and To help youis to identify in the Florida lately about differently than press a typical buyer whothe gets totrack benefit of the previous owner’s foreclosed properties in Sarasota tax revenue Exemption impact ofand foreclosures. Homestead Save Our Homes Capour for Geographic the first year.Information Florida County Several havebyjumped statutes publications do not discriminate type of transfer of ownership when it comes has Systems (GIS) department on theretention fact thatof foreclosing lenders to the homestead or other benefits for the balance of the created an interactive map showing transfer reap theyear. benefit of the defaulted foreclosed properties transferred owner’s Homestead Exemption and by Certificates of Title, (the most Of course, if this office determines that the defaulting owner did not in good Save Our Homes Cap in the year common of property transfer faith reside on the property on January we removeform the exemption for that in which they take possession. The 1,to a foreclosing lender), by year since year. No benefit accrues to a foreclosing lender or any other transferee. situation is being made out to be an 2007. To access this information visit aberration for the exclusive benefit 3,160 In 2010, Certificates of Title transferred Sarasota www.SC-PA.com, County properties toand our website, of the lenders. lenders. Of those 3,160 properties only 316 retained the Homestead click on the Property Foreclosure Exemption 2010. data show that the totallink value exempted taxes click Such is notforthe case.Our If the defaulting Map onof the left. Then (due to the Homestead other exemptions as well as any Save Our owner occupied the and property as on the Interactive Foreclosure Map Homespermanent Caps), amounted to justas overof$159,000. Hardly a windfall for the their residence link to view the map and begin your foreclosing lenders. January 1, the exemption remains data search. The map tools are the in placereceived for the many entirerequests year. A lender in/zoom out,andpan, We’ve for easily familiar accessiblezoom foreclosure location taking possession by Certificate of andand over. at large. To help ownership information from Realtors® thefloat community Title treatedand notrack differently than you toisidentify foreclosed properties ourproperties Youin Sarasota can also County view all aGeographic typical buyer who gets the benefit Information Systems (GIS) department has created an on which a Certificate of Title has interactive map showing properties transferred by Certificates of of the previous owner’s foreclosed Homestead recorded by goinglender), to the by Sales Title, (the most form of property been transfer to a foreclosing Exemption andcommon Save Our Homes Search link on the top menu bar year since To access information visit our website, www.SCCap for 2007. the first year. this Florida of ourMap home page, entering CT in PA.com, and click on the Property Foreclosure link on the left. Then statutes do not discriminate by type the Deed Type field, and clicking click on the Interactive Foreclosure Map link to view the map and begin your of transfer of ownership when it Submit. data search. The map tools are the familiar zoom in/zoom out,the pan,most and float To view recent comes over. to the retention of homestead CT entries, sort by Sales Date in or other benefits for the balance of descending order. You may also go the Youtransfer can alsoyear. view all properties on whichto a Certificate Title on hasthe been DownloadofData top menu recorded by going the Sales Search link on the top menu bar of our home Of course, if thistooffice determines bar and download the Sales Database page, entering CT inowner the Deed and clicking Submit. To view the that the defaulting did Type not infield,which includes deed information. most recent CT entries, sort by Sales Date in descending order. You may good faith reside on the property on willdownload continuethetoSales update our also go to Download Data on the top menu We bar and January 1, which we remove thedeed exemption Database includes information. website and databases to reflect the for that year. No benefit accrues to most current information about aWe foreclosing lender or any other and will continue to update our website databases to reflect the and mosttaxable factors affecting market transferee. current information about factors affecting market and taxable values in values in Sarasota County. Sarasota County. In 2010, Certificates of Title If you have any suggestions or transferred 3,160 Sarasota County recommendations additional If you have any suggestions or recommendations for additional for services properties lenders. Of those services please let us know. Call please let usto know. 3,160 properties only 316 retained 941-861-8200!

FEBRUARY 2011

Sarasota Realtor® Magazine

MARCH 1 EXEMPTION FILING DEADLINE!!!

Don’t let your customers and clients miss out on the 2011 Homestead or other Exemptions! Homestead: Applicants must: Establish themselves as Florida residents by January 1, 2011. Have legal or beneficial title to and occupy the property as their permanent residence as of January 1, 2011. Widow/er: Applicants must have lost their spouse prior to January 1, 2011. Veteran Exemptions: Applicants must have a rating letter from the Veteran’s Administration granting disability status prior to January 1, 2011. Civilian Disability: Applicants must have been certified as totally and permanently disabled, by a licensed Florida physician, as of January 1, 2011. Charitable Exemption: The organization must own the property and use it for an exempt purpose as of January 1, 2011. Agricultural and Conservation Classifications also have a March 1, application deadline. Contact us for more information. NEED A SPEAKER FOR YOUR MEETING? BILL FURST WILL COME AND TALK WITH YOUR GROUP AND ANSWER YOUR QUESTIONS. To set an appointment, call our office at 941.861.8200 or email us at PA@SC‐PA.com. www.sarasotarealtors.com

Who is buying and who is selling homes? The 2010 Profile of Home Buyers and Sellers in Florida looks at the traits of the state’s current real estate clients, and it identifies the characteristics of today’s homebuyers. It describes the motivations of recent homebuyers and sellers in Florida so real estate professionals can track the changing demands of consumers.

Characteristics of homebuyers

• Forty-four percent of recent homebuyers were first-time owners compared to 50 percent nationwide. • The typical first-time buyer was 31 years old, while the typical repeat buyer was 54 years old; nationwide, first-time buyers were typically 30 and repeat buyers were 50 years old. • The 2009 median household income of Florida buyers was $63,300 – slightly lower than the median income of buyers nationwide, $72,200. • The median income was $53,500 among first-time buyers and $84,300 among repeat buyers. • Nineteen percent of recent homebuyers were single females, and 11 percent were single males. Nationwide, 20 percent of recent buyers were single females, and 12 percent were single males. • For 30 percent of recent homebuyers, the primary reason for the home purchase was a desire to own a home.

KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy

Characteristics of homes purchased

• New home purchases were at the lowest level in nine years nationwide – 15 percent of all recent home purchases. But in Florida, 18 percent of homes were new. • The typical home purchased was 1,800 square feet, built in 1998, and it had three bedrooms and two full bathrooms. • Seventy-eight percent of homebuyers purchased a detached single-family home. • The median price of a home was $161,000 compared to $179,000 nationwide. • When considering the purchase of a home, 73 percent of buyers considered commuting costs very or somewhat important.

The home search process

• For four in ten homebuyers, the first step in the home-buying process was looking online for properties. • Eighty-nine percent of buyers used the Internet to search for homes. • Real estate agents were viewed as a useful information source by 98 percent of the buyers who used an agent while searching for a home. • The typical buyer searched for 12 weeks and viewed 15 homes. This compares to 12 weeks and 12 homes viewed by the typical buyer nationwide.

Home buying and real estate professionals

• Seventy-nine percent of buyers purchased their home through a real estate agent or broker. Continued on P. 19, See WHO IS

Call 941-366-1300 For A

FREE CONSULTATION Jefferson F. Riddell, Esq. (Board Certified Real Estate Attorney) Cynthia A. Riddell, Esq.

Riddell Law Group R L G

3400 S. Tamiami Trail, Sarasota, Florida www.toomuchdebtsarasota.com The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free, written information about our qualifications and experience.

IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY 2011 Dues Invoices Now Available and Due by Feb. 15 th , 2011 Changes Affecting 2011 Dues Only Realizing that many of our members are still struggling in this economy, SAR is implementing billing changes on a one time only basis which we hope will positively impact our members. We will be billing all charges on one invoice; however, the changes affecting late fees and past due dates will remain the same as last year: 1. Members will be given an additional 30 days to pay.

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

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

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

 Due Dates, Termination of Services, and Refund Policy  Due: December 15, 2010; Past Due: February 15, 2011, 5:01 p.m.  Members with open balances a/o 5:01 p.m. on February 15, 2011 will be terminated and lose all Realtor® services, including Supra.  Reinstatement before 5 p.m. on February 28, 2011 will require payment in full of all amounts due at date of termination, as well as a $75 reinstatement fee.  Reinstatement after February 28, 2011 will require licensee to apply as a new member and pay the $150 application fee plus amounts owed at time of termination plus the FAR interest assessment.  For a member whose license is placed inactive prior to Jan. 1st and who has paid their invoice, the inactive member will receive a full refund of the payments made.  For a member whose license is placed inactive on or after Jan. 1st and who has paid their invoice, all payments received are non‐refundable.

 Payment Methods: ELECTRONIC PAYMENTS ONLY!!!  Two payment options: 1. Deduct directly from your checking account via: A. Debit card (MC,V) – the easiest way to have the payment deducted from your checking account. B. Electronic check – use same information as on your check. 2. Credit card (MasterCard, Visa, or American Express).  Instructions for all payments  go to www.sarasotarealtors.com  click on MY SAR ACCOUNT at top of page  under My Services, click on “Pay/View Bill Online”  online charges will appear on your bank and credit card statements as “Realtor Association/MLS”  to print a copy of invoice, click on the invoice number OR Come to the SAR offices and use our computer in the library which is programmed to open directly into the log‐in screen and has easy instructions located at the workstation for your use.



Once payments are made online, they are updated to your account within 72 hours. We encourage you to go online to check the status of your account.

 What will be included on this dues billing?  Annual dues: Local, State, National, CID (if applicable), and voluntary RPAC. 14

FEBRUARY 2011

Sarasota Realtor® Magazine

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Sales surge in December 2010 and prices remain stable in Sarasota

a reason for the surge. Sarasota The Sarasota real estate market “2010 ended with a resurgent is just a great place to purchase saw a big surge in December sales, from 534 in November to 681 last local real estate market, and the a property.” higher number of pending sales month for a 27.8 percent increase. Inventory dipped in December In addition, the median sales price tells me we could see continued 2010 to 6,047 from 6,207 – for both single family homes and the lowest since August 2010 strength in early 2011.” - SAR condos was up in December 2010, when 6,039 properties were on President Michael Bruno indicating a recovering local real the market. The higher sales estate market. volume and lower inventory levels meant a major drop in The property sales breakdown in the months of December 2010 was 500 inventory to 7.8 single family home sales months for single and 181 condos. family homes The statistics for (from 10.9 months December 2010 in November were even better than 2010), and 11.7 December 2009. The months for condos 681 total sales reported (from 13.3 months last month topped the in November 648 sales in December 2010). The market 2009. The median is considered to sale price for single be in equilibrium family homes stood at between a buyers $165,000, a small drop and sellers market from last year’s figure of once the figure $170,000, but higher reaches the 6 than the November 2010 month level figure of $160,100. For There was also condos, the median price more good news rose slightly to $160,000 on the distressed from the previous property sales month’s $159,000, down front, as short sales from last December’s median of $199,000. But condo prices have sunk below the and foreclosure sales once again fell to 44 percent of overall $150,000 level several times in 2010, so the current figure sales, from 46 percent last month. For the entire year 2010, distressed sales made up 36 percent of overall sales. indicates a sign of improvement. “The fact that we’re trending downward for distressed Pending sales remained strong in December 2010 at 789, compared to 764 in November 2010, and higher than the property sales is encouraging,” noted Bruno. “We are all 739 reported last December, when the market was still hoping 2011 is a turning point and the worst is behind us. strengthened by the homebuyer tax credit initiative. This The improving national economic picture and recent drop in statistic is a strong indicator for the next two or three months the national unemployment rate are signs that the economy is heading in the right direction.” of sales, as pending sales reflect current buyer activity. Overall, 2010 sales were up 12.4 percent compared to 2009 “2010 ended with a resurgent local real estate market, and the higher number of pending sales tells me we could see – 7,603 to 6,739 total sales. The median sale price for both continued strength in early 2011,” said SAR President Michael single family homes and condos for 2010 stood at $163,000. Bruno. “For the second half of 2010, there was a fairly steady For 2009, the median sale price for single family was also trend in sales and prices, another sign of stability and recovery. $163,000, and for condos was $190,000. Word of mouth indicates we are seeing more showings and Sales in the Sarasota market have now risen for two more closings this season than we have in quite a while. And consecutive years since a low point of 5,820 sales in 2008. The this year, we don’t have the homebuyer tax credit to point to as level of sales is now at its highest point since 2005.

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Sarasota Realtor® Magazine

FEBRUARY 2011

Sarasota MLSSM Statistics - December 2010 Single Family Condo

Unit Sales 700 600 500 400 300 200 100 0 Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10 May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐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

3,920

500

12.8

178

$165,000

$163,000

7.8

567

14.5

715

156

This Month Last Year

3,810

469

12.3

194

$170,000

$163,000

8.1

521

13.7

667

211

4,012

369

9.2

182

$160,100

$163,000

10.9

547

13.6

755

186

‐

5,466

‐

175

$163,000

‐

7,421

‐

9,575

‐

Oct 94.4 95.2

Nov 94.1 94.8

Dec 94.2 94.1

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 95.2

Apr 92.4 94.8

May 93.2 95.2

Jun 93.8 95.3

Jul 93.2 94.7

Aug 93.6 95.2

Sept 94.2 94.6

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Jan. 10th, 2011, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse. Source: Sarasota Association of Realtors® 16

FEBRUARY 2011

Sarasota Realtor® Magazine

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Sarasota MLSSM Statistics - December 2010 Single Family Condo

Inventory 5,000 4,000 3,000 2,000 1,000 0 Dec‐09

Jan‐10

Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10

Jul‐10

Aug‐10 Sep‐10

Oct‐10 Nov‐10 Dec‐10

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10 May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐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

2,127

181

8.5

211

$160,000

$163,000

11.7

222

10.4

302

139

2,210

179

8.1

202

$199,000

$190,000

12.3

218

9.9

233

232

2,195

165

7.5

230

$159,000

$165,000

13.3

217

9.9

297

169

‐

2,137

‐

207

$163,000

‐

2,821

‐

3,670

‐

Oct 92.4 94.3

Nov 92.3 94.5

Dec 93.1 92.9

Jan 91.0 92.5

Condo – Sale Price Vs. List Price % Rates Feb 90.2 92.4

Mar 90.4 92.5

Apr 92.2 93.2

May 90.1 94.2

Jun 91.4 93.7

Jul 92.1 94.2

Aug 92.4 93.5

Sept 91.5 93.2

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

Sarasota Realtor® Magazine

FEBRUARY 2011

CID (Commercial Investment Division)

Membership enjoys its privileges By Anthony Homer CID President

The Commercial Investment Division (CID) is looking forward to building on the political successes enjoyed last year by strengthening our network with fellow professional organizations in the Sarasota-Manatee County area. Join the CID to network with peers in the Gulf Coast Builders Exchange (GCBX), Coalition of Business Associations (COBA), Lakewood Ranch Business Alliance, the Economic Development Council and the Greater Sarasota Chamber of Commerce. In the commercial real estate markets in December 2010, the 10-Year treasury checked in at the 3.5 percent mark, reversing the year-long decline. The standard for commercial real estate is giving some investors optimism, especially at the institution-level investments. The economic indicators all seem to point to America getting back to business. U.S. manufacturing activity expanded in November for the 16th consecutive month according to the Institute for Supply Management

reports. Retailers enjoyed the best Christmas shopping season since 2007, with consumer spending increasing by 2.2 percent. Locally, the retail market has seen slight improvements, while office vacancy has held its ground. Multi-family continues to be a strong performer, with distressed assets being snapped up around the $35,000 per unit mark. Office landlords will continue to compete for tenants, which will keep pressure on rental rates. Employment numbers remain daunting, but there are signs that show improvement. Employment has grown by an average of 86,000 jobs per month since December of 2009, still anemic, but showing continued momentum. There are still great values to be had in the market, and I believe multi-family presents a great opportunity for those investors looking for projects under 50 units. If you have noticed trends in other local markets or segments, or have questions, email me at ahomer@ lwrcommercial.com.

2011 CID Officers & Directors Officers:

Directors:

President: Anthony Homer, LWR Commercial President-Elect: Brad Lindberg, Hembree & Associates Vice-President: Linda Emery, Michael Saunders & Co. Secretary: Diane Lee, Wagner Realty Treasurer: Tim Mapp, Mapp Realty Past President: Lee DeLieto, Jr., Michael Saunders & Co.

FEBRUARY 2011

Pete Skokos: Norton, Hammersley, Lopez & Skokos (1 year - 2011) Eric Massey: Michael Saunders & Co. (1 year - 2011) David Roth: RE/MAX Alliance (2 years - 2012) Sarah Olesen: Keller Williams Lakewood Ranch (2 years - 2012) Bob Milhoan: Hembree & Assoc. (3 years - 2013) Lori Hellstrom: Osprey Management (3 years - 2013)

Sarasota Realtor速 Magazine

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The Making of a President

By Brad Lindberg CID President-Elect

Leadership is a quality that can be learned, but for most of the great leaders, it’s a trait that is inherited from birth. There are people who will be at the top of their sport, in their profession, or in their community. They are the people who look at challenges with a smile and attack it with a vengeance. Leaders come in every shape and form. We have had in history some tall leaders, short leaders, athletic leaders and leaders who have led the way to the buffet line. The common denominator of all leaders is their ability to get the job done. Getting the job at hand done sounds easy, but unless you have shock collars around the neck of those you need to march into battle with you, you better have confidence in the team you build and know they will be behind you when marching into combat. I have had the privilege of watching the “Making of a President”. Anthony Homer and I have worked together since my entering the real estate business five years ago. I have had the privilege

Anthony Homer of studying with him the nuances of commercial real estate and seeing how he has transformed an old stodgy gentlemen’s society into a new wave of technology-fueled “Young Professionals” eager to use the tools of the 21st century, incorporating the old world wisdom of good selling techniques to get the jump on the competition.

WHO IS

difficult than expected.

Home sellers and their selling experience

From Page 13

• Seven percent of buyers purchased a home in foreclosure – slightly higher than the share of buyers nationally. • Forty-four percent of buyers found their agent through a referral from a friend or family member. • Seventy-two percent of buyers would definitely use their real estate again or recommend the same agent to others.

Financing the home purchase

• Eighty percent of homebuyers financed their home purchase compared to a much higher percentage, 91 percent, of buyers nationwide. • The typical buyer financed 93 percent of their home purchase. • Forty-six percent of buyers said they made some sacrifices, such as reducing spending on luxury items, entertainment or clothing. • Twenty-eight percent of buyers reported their mortgage application and approval process was somewhat more difficult than expected, and 16 percent reported it was much more www.sarasotarealtors.com

It is evident with his recent “Master of Ceremonies” responsibilities at the SAR Installation luncheon that this young man is destined for greatness. His charming and humorous personality is always engaging and affable. His command of the audience comes to him as natural as his love of family and friends. As former business owner and Senior Executive of an International Telecommunications Distribution Company, I came into contact with very talented professionals. I always was looking to find young talented individuals who were new to the business. My first choice was an individual who was not afraid to speak up and challenge the system. Anthony Homer embodies that leadership quality. I look forward to working with Anthony in 2011, as he will teach all of us to leave our comfort zones and challenge us to march into battle with him. 2011 is the year the Commercial Investment Division will be filled with significant advancements in technology and education.

• A real estate agent assisted 86 percent of home sellers. Nationwide, 88 percent of sellers used a real estate agent when selling their home. • Recent sellers typically sold their homes for 94 percent of the listing price, and 63 percent reported they reduced the asking price at least once. Among all sellers nationally, sellers typically sold their homes for 96 percent of the listing price, and 57 percent reduced the asking price at least once. • Thirty-nine percent of sellers offered incentives to attract buyers, most often assistance with home warranty policies and closing costs.

Home selling and real estate professionals

• Thirty-nine percent of sellers who used a real estate agent found their agents through a referral by friends or family, and 23 percent used the agent they worked with previously to buy or sell a home. Download the complete 2010 Report of Home Buyers and Sellers in Florida on the Research page at floridarealtors.org. - Florida Realtors®

Sarasota Realtor® Magazine

FEBRUARY 2011

Education Programs

RAJC presents 2011 Lunch ’n Learn Legal Series The 2011 Lunch ‘n Learn Legal Series is presented by the Realtor® Attorney Joint Committee (a joint committee of the Sarasota Association of Realtors® and the Sarasota County Bar Association). Bring a brown bag lunch and munch while you learn. Mark your calendars now and plan to attend this series of seminars presented as a member benefit at no additional cost. Members, please register online at www.sarasotarealtors.com. Non-members will be charged $10, but will need to call Catherine McCaskill at 941-328-1167 for registration information.

The dates are listed below—all the seminars are from noon to 1:30 p.m. More details about the speakers will be made available as the seminar date nears. Wednesday, Feb. 16 - Short Sale Update Wednesday, March 16 - How to Hold Real Estate Wednesday, April 20 - Making Next Year’s Taxes Easier Wednesday, May 18 - How to Reduce the Chances of Getting Sued A social is also being planned for March 24—location TBA.

Learn QuickBooks II for Real Estate Pros Title: QuickBooks II for Real Estate Professionals Date: March 9, 9 a.m. to 1 p.m. Location: SAR Main Auditorium Instructor: Abby Barboza Cost: $20 (SAR Members); $40 (others) This course is Part 2 in a series designed specifically for real estate brokers and agents. As business owners, you need to be able to take control of your finances. Learning QuickBooks allows you to be in control of gathering and entering of your financial information. It allows you to use basic accounting principles to your advantage. Register today to become one of the smart real estate licensees who has total knowledge and understanding of basic elements of financial statements. Receive a FREE 30 days trial in addition to discounts on QuickBooks software when you attend the class. Module II covers the following: • Customizing QuickBooks • Excel & Word for QuickBooks • Setting up Multiple Users • End of year closing.

• Creating Statements for Property Management clients • Payroll • Preparing 1099s & W-2s • Depreciation • Cash vs. Accrual Accounting • Accounts Payable • Accounts Receivable • Sending all information to your tax preparer.

What are the tax implications of distressed sales?

Title: Tax Implications of Short Sales & Foreclosures Date: March 2, 2011, 9 a.m. to 1 p.m. Instructor: Ira H. Zlatkin, CPA, MST, ITI & GRI Tax Instructor Cost: SAR Members, $20; Others, $30 4 Hours CE (DBPR Course # 0012331) In these turbulent times, homeowners and investors alike are increasingly faced with short sales, foreclosures, and even abandonments. In these cases, property owners are surprisingly faced with the potential of cancellation of indebtedness income and even a gain or loss on the property’s disposition. Recent economic stimulus legislation allows a limited

FEBRUARY 2011

exclusion of income from the forgiveness of debt on a personal residence. Learn how the amount of taxable income reported by the bank due to debt forgiveness on a personal residence could be totally eliminated. Also, learn how sellers of investment property and real estate used in a trade or business may also avoid taxation of debt forgiveness income. Learn how to protect, for future use, the most valuable tax benefits which may have been accumulated by the seller, such as unused tax credits and suspended losses, from being taken away by Uncle Sam to offset the allowed reduction of debt forgiveness income. Register at www.sarasotarealtors.com.

Sarasota Realtor® Magazine

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Supercharge your career with NAR Designations 14 Hours CE - Feb. 8-9

This session provides the full 14-hours of continuing education needed for license renewal. The 14-hours CE includes 3 hours of Core Law. Or, you may opt to take Core Law only which consists of the first three hours of the 14 hours. Instructors: IFREC.

GREEN - April 5-6: Cost - SAR Members, $99; Others, $149

NAR’s Green Designation provides advanced training in green building and sustainable business practices so that you can seek out, understand, and market properties with green features. Stand out with the only green designation for real estate agents and property managers recognized by the National Association of Realtors®. Instructor: Jean Dorazio, Vice President, North American Title Company

GRI Course 2 - May 2-4, 10-11, Exam May 12: Cost - Realtors®, $265

The GRI designation - Graduate, Realtor® Institute - is the nation’s top real estate designation. It is earned through state associations whose courses of study meet the standards established by the National Association of Realtors®. The designation is available only to members of NAR. Course carries 30 hours of Broker’s Post-License credit and 11 hours CE.

SFR - Short Sale & Foreclosure Certification: June 1: Cost - SAR Members, $99; Others, $119

For many real estate professionals, short sales and foreclosures are the new “traditional” real estate transaction. Knowing how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities are not merely good skills to have in today’s market — they are critical. And while short sales and foreclosures are not for the faint of heart, agents with the proper tools and training can use these specialty areas to build their business for the long term. Instructor: Jim Dague

GRI 3 - July 25-27, Aug. 2-3: Cost - Realtors®, $265

An NAR survey in 2008 shows that the gross income for GRI designees was $69,800; gross income for Realtors® without designations or certifications was $37,300. This course carries 30 hours of Broker’s Post-License credit and 11 hours CE.

14 Hours CE - Aug. 9-10: Cost - SAR Members, $79; Others, $99

SRES (Seniors Real Estate Specialist) - Oct. 11-12: Cost - TBD

Adults aged 50+ represent more than 20 percent of the U.S. population. For most senior adults, the homes that they live in are their largest asset and account for most of their net worth. Completion of the Seniors Real Estate Specialist (SRES®) Designation Course is an essential step for Realtors® in understanding the distinct real estate goals, concerns, and needs of seniors today. This course looks at key differences in housing options, from age-restricted communities to age-in-place design to assisted living; applications of the Housing for Older Persons Act (HOPA); the ins and outs of reverse mortgages; the use of pensions, 401k accounts, and IRAs in real estate transactions; and developing a team of senior specialists, including estate planners, reverse mortgage lenders, clutter and staging specialists, and more. Instructor: Jim Dague www.sarasotarealtors.com

Sarasota Realtor® Magazine

FEBRUARY 2011

International Council hosts seminars in 2011

The following seminars are being developed by the International Council Steering Committee of the Sarasota Association of Realtors®. They are being presented as a member benefit at no additional cost. Members, please register online at www.sarasotarealtors. com. Non-members will be charged $10, but will need to call Catherine at 941-328-1167 for registration information. Wednesday, Feb. 16, 9-11 a.m. - Networking Opportunities for Global Business Steve Albee, President, Westcoast Florida Global Marketing Council; Carla Rayman, President, Sister Cities; Jean Charles Faust, President, French American Chamber of Commerce; Grant Petersen, President, British-American Business Council. Learn what an impact the multiple international cultures have on our market! Wednesday, March 16, 9-11 a.m. - International 101 Learn how to establish international relationships, generate referrals and international business; learn where to find the free resources and tools to help you get connected internationally; learn about Immobel and all its new features to market your listings in 13 different languages as well as through Facebook; learn from a panel of international practitioners how they reach this lucrative market.

Graduate, Realtor® Institute courses continue in 2011

GRI Course 2 – “Essential Real Estate Techniques” May 2-4 & 10-11, Exam May 12, 10 a.m. to 1 p.m. Approved for 30 hours of Broker Post Licensing or 11-hours specialty CE On or before April 18: SAR, FAR Members & Realtors®: $265 After April 18: SAR, FAR Members & Realtors®: $290 According to the National Association of Realtors®, Realtors® who have not earned a designation have a median income of $40,900 while those who have earned a designation have a median income of $82,900. The GRI designation indicates to buyers, sellers and other real estate industry professionals that you have made the commitment to provide a high level of professional service to your clients by securing a strong educational foundation. The GRI designation—Graduate, Realtor® Institute—is the nation’s #1 real estate designation. It is earned through state associations whose courses of study meet the standards established by the National Association of Realtors®. The designation is available only to members of NAR. The three courses leading to the GRI designation in Florida can be taken in any order. Instructors for the Sarasota GRI 2 are: Steve David, Pat Alters, Ira Zlatkin and Chuck Bonamer. 22

FEBRUARY 2011

Award-winning printing and customer service Specializing in pocket portfolios, die-cutting and foil-stamping done in-house FSC and SFI certified to help you go green

Sarasota’s Premier Real Estate Printer 1730 Independence Blvd., Sarasota, FL 34234 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com

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MLXchange education gives you the edge 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 Feb. 7, Feb. 28, 9 a.m. to Noon Mandatory session for all new users. Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work. - Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information Entering and Updating Listings in MLXchange Feb. 7, Feb. 28, 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 Regulations - Adding images, attachments, open www.sarasotarealtors.com

house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listings MLXchange Advanced Feb. 8, 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 - Edit favorite reports, personalize home page resource link, setting defaults Design Web Pages, Capture Leads Feb. 8, 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. - Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders - Plans manager, copying and

Sarasota Realtor® Magazine

modifying the action plan - Emailing the client private webpage - Customizing email templates Creating a Professional CMA Feb. 22, 9 a.m. to Noon This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default iMapp - Interactive Tax and Mailing Labels Feb. 22, 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

FEBRUARY 2011

On the SAR Scene

Affiliate Socials continue to grow Visit SAR on Facebook at www.facebook.com/SarasotaRealtors

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!

Photography by Jesse Sunday Erick Shumway, 2010 SAR President, with Gabriele Charity and Ruediger Weiss of Charity & Weiss at the Dec. 14th Affiliate Social.

Dena James and Sherri Spanos of Lakewood Ranch Communities at the Dec. 14th Affiliate Social.

Left, Roxanne Foley and Carole Samuels of RE/MAX Alliance Group at the Dec. 14th Affiliate Social. Above, Dawn and Geoff Rossman (RE/MAX Tropical Sands) at the same event. 24

FEBRUARY 2011

Sarasota Realtor速 Magazine

www.sarasotarealtors.com

Distressed Sales Report - Fourth Quarter 2010, and Full Year Total Sales ‐ By Quarter

REO

Short

Arm's Length

1600 1400 1200 1000 800 600 400 200 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4

See Additional Charts Online at www.sarasotarealtors.com/statistics After reaching a high in the second quarter of 2010, distressed property sales have decreased in the Sarasota area. But what the future holds is difficult to predict. Nationwide, foreclosures were historically high in 2010 and buyers eager to own them came out in record numbers. Some experts are expecting foreclosures to climb even higher in the United States in 2011. But whether or not that national picture translates locally remains to be seen. So far for the past two quarters the percentage of distressed property sales has been declining locally. In 2009, distressed property sales locally represented about a third of the local market. That percentage topped 50 percent in the second quarter of 2010, but has since dropped off to 44 percent still historically high, but demonstrating an improving picture. Prices for distressed properties have leveled out for single family homes, with buyers able to garner many foreclosures for roughly a third of the price of normal arm’s length sales. Short sales are generally higher in price, but can still represent a 50 percent savings. For condos, the disparity in prices has been even greater between foreclosures and arm’s length sales. The numbers continue to tell the story of two distinct markets - one for distressed properties, and the other for non-distressed properties. While in early 2010 foreclosures appeared to be dropping, experts said the problem was masked by government policies that set out to curb foreclosures. The policies provided increased www.sarasotarealtors.com

of $1,650. With today’s interest rates funding for foreclosure education and and median home prices, that same gave lenders incentives for providing buyer would pay $1,150 per month – a loan modification and refinancing $500 savings. That’s a savings of $6,000 for troubled home owners. But the per year.” new policies, experts said, only stalled Despite record affordability and buyer foreclosures. incentives, rising foreclosure rates and By April 2010, national data showed concerns about proper foreclosure foreclosures in the first quarter were 35 procedures led some to question whether percent higher than in 2009. However, owning a home was a good personal most of the increase was in bank decision. repossessions and REO homes, the final “Home ownership didn’t create the stage of foreclosure. A slower growth foreclosure crisis – Wall Street greed and rate occurred in new foreclosures listings irresponsible lending practices did,” said coming onto the market. Phipps. “The decision to own a home In 2010, metro areas in particular is a very personal one, but over the seemed to be hardest hit by an increasing long term, owning a home is one of the number of foreclosures, with California, best ways to build long-term wealth, in Nevada, Florida, and Arizona home to addition to providing numerous social 19 of the top 20 foreclosure cities in the benefits that include reduced crime nation. rates, improved childhood education, In the first half of the year, the extended and increased stability. After all, a fixed$8,000 first-time home buyer tax credit rate mortgage might last 15 to 30 years; and $6,500 tax credit for repeat buyers renting is forever.” helped encourage sales and stabilize Despite current economic challenges, home prices. Home buyers in 2010 have most Americans still aspire to the dream also benefited from historic affordability of home ownership. According to a levels, with the combination of record survey conducted earlier in the year by low mortgage rates coupled with rising Bankrate.com, 90 percent of respondents household incomes. said they had no regrets buying their The NAR Housing Affordability current home. And just this month, Index currently shows that a median- a Fannie Mae survey found that most income family with a down payment Americans – both those who currently of 20 percent has 184.2 percent of the own their homes and those who rent – income required to purchase a median- strongly aspire to own a home and to maintain home ownership. priced home. Distressed properties represent both a “Low interest rates mean real money for today’s home buyers,” said 2011 negative and a positive in the current local NAR President Ron Phipps. “Buyers market - a negative because they reflect who purchased a median-priced home the continuing difficult economic times for manyAssociation families; aofpositive because five years ago with an FHA mortgage Source: Sarasota Realtors® requiring a 3 percent down payment they provide opportunities to purchase would have a monthly mortgage payment property at incredible discounts. Sarasota Realtor® Magazine

FEBRUARY 2011

Ethics In Action 26

Unethical to pursue new listing accord? A property was exclusively listed with Realtor® A who advertised it widely and invited cooperation from other Realtors®. The property was not sold during the term of Realtor® A’s listing, although both Realtor® A and Realtor® B, a cooperating broker, had shown the property to prospects. Sometime after the expiration of Realtor® A’s listing, newspaper advertisements appeared indicating that the property was exclusively listed with Realtor® B. Shortly thereafter, the property was sold by Realtor® B. Realtor® A confirmed that it was listed with Realtor® B and then charged Realtor® B in having failed to respect his exclusive agency status with the client by soliciting the listing. The Grievance Committee referred the complaint for hearing by a Hearing Panel of the Professional Standards Committee. Upon due notice to the parties, a hearing on the complaint was called with Realtor® A and B present. Realtor® A’s specific charge was that Realtor® B knew that the client had originally listed the property with him, Realtor® A, because he had discussed the property with Realtor® B during the term of the original listing contract; that during the term of Realtor® A’s listing, Realtor® B had shown the property to the same individual who had now purchased the property through Realtor® B; and that with this knowledge Realtor® B’s action in soliciting the listing, even after it had expired, was a violation of Article 16. Realtor® A told the Hearing Panel that when he had asked for an extension of the original exclusive listing, the client told him that because of a family problem he intended to take the property off the market for a few months, but would consider relisting at a later date. Realtor® B conceded that he had known of Realtor® A’s exclusive listing at the time the listing contract was current; that he had known the term of the listing contract and, hence, knew when it expired; and that he had shown the property to the individual who eventually purchased it. However, he explained, he had no continued contact with the prospect to whom he had originally shown the property. After the expiration date of Realtor® A’s listing, he was approached by the individual to whom he had originally shown the property and who was still actively interested in purchasing a home. In reviewing the purchaser’s stated requirements and reviewing the market, the property in question seemed to correspond more closely than any other available properties. FEBRUARY 2011

Knowing that the original listing with Realtor® A had expired some time ago, Realtor® B simply called the owner to ask if the property had been relisted with Realtor® A. Upon learning that Realtor® A’s exclusive listing had not been extended, Realtor® B told the owner of his prospective buyer, solicited the listing, and obtained it. Realtor® B said he saw nothing unethical in having solicited the listing when it was no longer exclusively listed with another broker and felt that Realtor® A was without grounds for complaint. The panel concluded that it was not the intent of Article 16 to provide any extended or continuing claim to a client by a Realtor® following the expiration of a listing agreement between the client and the Realtor®. The panel concluded that Realtor® A had not been successful in his efforts to sell the client’s property and that neither the property owner nor other Realtor® should be foreclosed from entering into a new listing agreement to sell the property. The panel concluded that Realtor® B was not in violation of Article 16 of the Code of Ethics. - Case #16-5: Solicitation of Expired Exclusive Listing (Reaffirmed Case #21-11 May, 1988. Transferred to Article 16 November, 1994. Revised April, 1996.)

Sarasota Realtor® Magazine

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By G.M. Filisko Realtor® Magazine Online In the age of online ratings, your reputation depends on knowing what’s being said about you and how to react. With the proliferation of online rating sites, consumers can disseminate their unfiltered opinions about your brokerage and your sales associates within seconds. And although the trend may be a good thing when the reviews are positive and truthful, it’s not so great when the comments are negative and possibly even false. “That’s the bad part about the Internet. People can make things up,” says Mia Melle, broker and president of Renttoday.us, a property management company in Ontario, Calif. Melle recently opted to ignore a harsh online review that was submitted anonymously, calling her company rude, dishonest, and a “rip-off king.” “It was so over-thetop that I hope no one would pay attention to it,” Melle says. But beyond simply ignoring bad online ratings, what can you do to manage your online reputation?

Be on Alert

First, know where customer reviews are appearing. The number of Web sites at which consumers can make or break your reputation has exploded in recent years. The list includes mainstream sites such as Citysearch, Yelp, and Yahoo as well as real estate–specific sites like Homethinking, AgentRank, and Incredible Agents.com. Customers also can easily post comments about your company on blogs and social networking sites such as Facebook. With so many sites out there, how can you keep track of what’s being said about your company? One easy way is to set up a search-engine alert (try Google Alerts at www.google. www.sarasotarealtors.com

com/alerts) so you’ll be notified any time your company is mentioned online. Next, establish a procedure for handling negative reviews. “Respond promptly to every incident using the same medium the consumer used,” says Michael Harris Jr., founder of Ardynn PR, a Harrisburg, Pa.–based company that specializes in real estate marketing. “If the comment was made on Twitter, respond on Twitter. Also, make personal contact.” Angie Vandenbergh does both. “If there’s a place to post a reply or comment, I introduce myself, acknowledge the person had a problem, and offer to help,” explains the Web manager at Crye-Leike, Realtors®, in Memphis, Tenn. “If the comment involves a legal issue or a sales associate, I ask the office broker to contact the person.”

Reclaim Your Good Name

If negative reviews are skewing search engine results for your brokerage, you can pay a company

Sarasota Realtor® Magazine

Broker Corner

How do you deal with online detractors?

like ReputationDefender to even out the results, making positive reviews appear more prominently. “Our second-fastest growing market [after physicians] is real estate professionals,” says Michael Fertik, CEO of the Redwood City, Calif.–based company, which offers an array of products that monitor online presence. “We won’t fake good reviews. Instead we’ll strategically promote or flood the zone with good links to push out bad links.” The key to a good online reputation - show every site visitor that you care. “Be honest,” Harris advises. “Say, ‘Wow, we messed up.’ Or if you don’t have an answer right then, post a message saying, ‘We’ll find a solution to this issue. Would you be willing to help us do that?’” And keep things in perspective. “Don’t worry too much about individual comments,” Harris says. “Some comments aren’t worth spending a ton of time and money on because you may never win.”

FEBRUARY 2011

LWRC-1

Networking, Working Together - We’re Ready! By Cindi Jackson 2011 WCR President

Real estate is a people business. Interpersonal relationships and networking is the core of a successful real estate career. Webster defines networking as “the exchange of information or services among individuals, groups or institutions; specifically: the cultivation of productive relationships for employment or business”. The Women’s Council of Realtors® is a network of successful, knowledgeable and professional Realtors® and Affiliates helping each other to cultivate productive relationships for successful business and personal growth. We believe that when we leverage the power of our network, we can attain our personal and professional goals quickly. The members in our organization are professionals that make our network very unique. When our members invest their valuable time with us, we know they expect that investment to pay off. That’s why WCR delivers the kinds of information, resources and networking opportunities that help our members stay on top and out front of the real estate business. Networking is hard work any way you cut it, but it can only start with you. Leadership begins with leading ourselves. Only then can we empower others in our business. We challenge you to take your networking to the next level for 2011. Join the Sarasota Chapter of the Women’s Council of Realtors® and you’ll discover an environment that makes the most of your skills, talents and ambitions, a community that both supports and encourages your success. As one of the most successful communication networks in the National Association of Realtors®, WCR is the 14th largest U.S. women’s professional

organization. Our membership includes men and women that support the objectives of WCR, who are interested in serving the real estate industry, our community and fellow Realtors®. Say goodbye to yesterday’s real estate market ~ we invite you to attend a business resource meeting, participate in our network and join the Women’s Council of Realtors®! For membership information contact: Mary Hellhake, V. P. of Membership – 941-544-0763.

Upcoming WCR Business Resource Meetings

Friday, Feb 11, 11 a.m., Hyatt Downtown: “Safety for Real Estate Professionals” - Speaker: Kathy Vacca, Friday, March 11, 11 a.m., Michael’s on East: “Time Management” - Speaker: Cheryl Stock Friday, April 8, 11 a.m., University Park Golf & Country Club: “Recognizing and Avoiding Fraud” - Speaker: Dept. of Financial Services 11 a.m.-12 noon Business Networking 12 noon – 1 p.m. Business Resource Meeting - For reservations contact Linda Witt at MZWitt@ aol.com - For Business Resource Meeting information contact Leslie Lauritano at leslie.lauritano@ regions.com

2011 Line Officers Cindi Jackson President Exit Realty Signature Properties Cell: 941-400-6091 cindi_title@yahoo.com

Mary Hellhake Vice-President Membership Michael Saunders & Company Cell: 941-544-0763 maryhellhake@michaelsaunders.com

Carrie Starr Rummery Recording Secretary Starr Title Insurance Phone: 941-365-7827 carrie@starrtitle.net

Marianne LeBar Vice President of Membership Michael Saunders & Company Cell: 941-650-0337

Sharyl Smith Treasurer Bank of Commerce Cell: 941-374-06302 ssmith@bankofcommercefl.com

Mary Mastro Corresponding Secretary Keller Williams Lakewood Ranch Cell: 941-586-2402 marypmastro@kw.com

mariannelebar@michaelsaunders.com 28

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LWRC-161 January Spotlight_Layout 1 1/10/11 12:24 PM Page 1

LAKEWOOD RANCH SPOTLIGHT

Celebrate the arts with the whole family at Ovation!

LETTER FROM Rex Jensen Schroeder-Manatee Ranch CEO and President As we welcome in a new year, I am optimistic for a great 2011 due to our success in 2010. The 15 year anniversary of the first home sold in Lakewood Ranch was a top sales year with close to 250 new home sales. By the end of the first quarter of this year, Lakewood Ranch will have 50 furnished models by 15 different builders— more models and builders in one location than any other developer in the state. You will also see more new neighborhoods popping up in 2011, including an age targeted community—the first one in Lakewood Ranch. Then in April, we will open the Lakewood Ranch Sports complex— a facility that will house 22 contiguous soccer fields to host sporting events from around the community, the nation and the world. Don’t blink, because 2011 will be full of new ideas, innovation, and a few surprises from all of us here at SMR.

Go to www.lakewoodranch.com or call 941.907.6000 to discover more about living on the Ranch. Play tag! Learn how at: lakewoodranch.com

OVATION IS COMING to LWR The popular celebration of Suncoast performing arts returns to Main Street on Saturday, February 5th starting at 10am. Don’t miss live performances from a variety of arts organizations in Sarasota and Manatee Counties. This fun filled day will also feature kid’s activities and more.

For more information on Ovation please go to www.lwrevents.com.

LWR SPORTS COMPLEX scores Mulqueen Meet Tim Mulqueen. A Lakewood Ranch resident for 5 years, Tim will now work to promote and oversee operations at the Lakewood Ranch Sports Complex. A former soccer goalie for St. Joe’s University in Philadelphia, his professional career includes coaching Major League Soccer teams in New York and Kansas City, as well as coaching the US National soccer team.

You’ll be seeing and hearing a lot about Tim this year, as Lakewood Ranch gets ready to host several tournaments at its new facility on state road 70, slated to open in April 2011.

Events at the Ranch’s most popular gathering place raised $242,766 for local charities in 2010

Here is the latest lineup for Music on Main! The Free monthly street party feautring live music every first Friday of the Month. February 4 Mumbo Jumbo benefitting Foundation for Dreams March 4 The Venturas Benefitting Honor Sanctuary April 1 Glass Onion Benefitting Real Rail May 6 Big T & The Tornadoes Benefitting Sarasota Film Society June 3 Shotgun Justice Benefitting LWR Community Fund

For more details on Main Street events go to www.lwrevents.com

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Fous, Gregg: Market America Realty & Invest Light, Donald: Ronnie Dewitt and Associates Pereyra, Robert: ROEM Realty LLC Wise, Gary: Beachside Resorts Inc.

New Members

Bailey, Kim: LSI Properties Bell, Willis: Century 21 Advantage Brooks, Christina: Shirley International Realty Cole, Susan: Beachside Resorts Inc. Conner, Cheryl: Millenia Realtors Corbino, Michael: Edwin Alley Lic R E Broker Dammann, Eric: Horizon Realty International DuShane, Ceil: Sandals Realty of Sarasota Endara, Nancy: White Sands Realty Group Inc. Engel, Bruce: Allen Real Estate Services Inc. Flanders, Jennifer: Prudential Palms Realty Frostad, Alden: Seaside Paradise Rentals Ispaso, Robert: Michael Saunders & Company Johnson, Kyra: Mount Vernon Property Mgmt Inc. Kessler, Erin: Horizon Realty International Krstec, Natalie: Southbay Realty Inc. McCollough, Janet: Coldwell Banker Res R E Merriman, Wendy: Coldwell Banker Res R E Mills, John: Hook & Ladder Realty Inc. Morel, Alexander: Wagner Realty Morgan, Kathleen: Premier Properties Realty Inc. Netzel, Thomas: Signature Sothebys Internat’l Payne, Mike: Sandals Realty of Sarasota Rogers, Ronna: Horizon Realty International Roy, K. Joseph: Wagner Realty Valenti, JoAnne: Keller Williams Lakewood Ranch

Now With ...

Alba, Keyla: Jennette Properties Inc. Allen, Sania: Sandals Realty of Sarasota Andres, Roberta: Beachside Resorts Inc. Barta, Lorraine: Sarasota Premier Properties Bers, Andrew: RE/MAX Alliance Group Charron, Pamela: Michael Saunders & Company Ciampolillo, Todd: RE/MAX Alliance Group DAngelo, David: Meadows Real Estate Services Dean, Thomas: Meadows Real Estate Services Ellis, Whitney: Neal Communities Realty Inc. Frost, Jim: Meadows Real Estate Services Frostad, Alden: Seaside Paradise Rentals Geweye, Charles: Coldwell Banker Res R E Giarrano, Leonard: Michael Saunders & Company Glah, Patricia: Horizon Realty International Greer, Kay: Coldwell Banker Res R E Jozefowicz, Danuta: Realty Executives Solutions Jurney, Ralph: Coldwell Banker Kedzierski, Dennis: RoseBay Real Estate Inc. Knight, Joseph: Meadows Real Estate Services Koelling, Ronnie: Sandals Realty of Sarasota Langer, W. Jeff: Prudential Palms Realty Maslen, Sandra: Michael Saunders & Company McCann, Mark: Ascendia Real Estate 30

FEBRUARY 2011

McDonald, Barbara: Michael Saunders & Company Miller, Susan: Overseas Realty, Inc. Petsinger, Robbie: RE/MAX Alliance Group Quesnel, Omer: Michael Saunders & Company Rees, Jane: Signature Sothebys Internat’l Smith, Robert: Horizon Realty International Spinks, Nancy: Cityscapes Int’l Realty Grp Sulzberger, Ludmilla: Wagner Realty Teresa, Sandra: Michael Saunders & Company Thomas, Elizabeth: Michael Saunders & Company Unger, Joshua: Market America Realty & Invest Weiss, Douglas: Beachside Resorts Inc. Werner, Allison: Michael Saunders & Company White, John: Beachside Resorts Inc.

New Affiliates

Academy Mortgage

2201 Cantu Ct. Ste 119 Sarasota, FL 34232 Phone Number: 941-357-7000 Representative: Joe Adamaitis Specialty: I have been in Mortgage Banking for nearly 30 years. Past employment includes ownership of my own firm for seven years (Direct Mortgage Services, Inc.) which operated in five states including ME, MA, NH, CT and FL. This experience encompassed all areas of lending and in turn has allowed me to provide a high level of service to my clients. I am an advocate of helping clients learn as much as possible and specifically encourage borrowers to ‘Know Who Your Lender Is’. I encourage clients to always ask questions as lending is a changing process. I take seriously the fact that it’s my job to answer each and every question and to help borrowers make informed decisions. My goal is to allow you the opportunity to own a home with as little hassle as possible Email: joe.adamaitis@academy.cc

Artistic Pools of Sarasota Inc.

4882 Oak Pointe Way Sarasota, FL 34233 Phone Number: 941-225-0025 Representative: Kathi King Specialty: Artistic Pools of Sarasota Inc. is a full service pool company, providing new construction, renovation, resurfacing, decking, rescreening and all other stages of pool operations. Owner TJ Warren, a Sarasota native with over 10 years experience in the pool industry is onsite during the process of service. Kathi, a 45 year resident of Sarasota will assist you in creating a magical outdoor pool living area to please you. Artistic Pools of Sarasota Inc. prides themselves in quality workmanship and customer satisfaction from start to finish. Give Kathi a call for any questions or assistance you may need. Email: kathi@artisticpoolsofsarasota.com

Sarasota Realtor® Magazine

Continued on P. 31, See MEMBERSHIP

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PRIORITIES From Page 10

Commercial Real Estate

Commercial Real Estate Lending: NAR supports protecting and enhancing the flow of capital to commercial real estate. NAR believes Congress should consider legislation aimed at improving commercial real estate markets. These include increasing the cap on credit union member business lending and improving lending access through the passage of the Small Business Lending Fund.

Business Issues and Technology

Data Security: Realtors® strongly support efforts to protect their clients’ sensitive personal information but believe that any legislation must not overly burden small firms with

MEMBERSHIP From Page 30

Cornerstone Title

11061 Gatewood Drive Suite 101 Bradenton, FL 34211 Phone Number: 941-708-0300 Representative: Mary Howard Specialty: Anyone can sell title insurance, we provide Closing Experiences. CornerStone Title is built on the foundations you need in a title company; clear communication, attention to detail and a sense of urgency. These are the hallmarks of exceptional professional service. CornerStone Title was created to not only be successful, but significant. We achieve significance by being a positive light to our clients, employees and community through the experience they encounter while working with us. We offer full real estate settlement and closing services. Email: mary@cornerstonetitle.biz

Goff Wireless

5590 Broadcast Court Sarasota, FL 34240 Phone Number: 941-302-0404 Representative: Charles R. Stephens Specialty: The name Goff has been synonymous with wireless communications for over 50 years. As a business customer, your wireless needs are much more complex than the ordinary user. We believe it takes more than a 3 minute conversation at the mall to understand those needs. That is why we maintain a professionally trained staff that will come to your location. They will listen hard and work harder, taking the time needed to understand and meet your goals. So if you would like a better wireless experience, give us a call. We can help you today! Goff is a Certified Sprint Business Dealer. Email: Charles.stephens@goffwireless.com

Inspection Connection of SAR 5050 Central Sarasota Pkwy#206 Sarasota, FL 34238 Phone Number: 781-367-8105 www.sarasotarealtors.com

limited resources. Federal data security legislation should not preempt state laws which generally offer additional protection. Broadband Access: NAR supports national broadband policies designed to provide all American communities with the affordable high capacity connectivity necessary to support today’s business and workforce. A variety of options should be considered to encourage broadband deployment, including action by both the private and public sectors. Net Neutrality: NAR believes that Internet users should be in control of what Internet content is accessed, the applications used, and the legal devices that they choose to connect to the Internet. Network providers should not be allowed to discriminate among Internet data transmissions on the basis of the source of the transmission as they regulate the flow of network content Representative: Roger Wardwell Specialty: Our firm was established to provide a reliable option for a client’s interest in a residential property, so he or she may gain an understanding of the condition of the systems and equipment on that property. If there are any identifiable major deficiencies that could lead to additional monetary expenditures; beyond purchase, etc. We also offer some specialty services, beyond the basic home inspection, to respond to the specific needs of our clients, such as: water quality tests and radon gas tests. Email: rdwardwell@gmail.com

Medallion Homes

2212 58th Ave E. Bradenton, FL 34203 Phone Number: 941-359-9300 Representative: Gregg Glasser Specialty: Medallion Home, one of the premier semicustom homebuilders in the State of Florida, has been successfully servicing its new home customers since 1984. Medallion Home has New Homes for Sale in FL right now! With a concentration on the beautiful Gulf Coast areas of Sarasota & Manatee Counties, Medallion Home stresses its cornerstones of business: Quality, Customer Service & Integrity while successfully developing and building communities in Sarasota, Bradenton, Palmetto, Parrish, North Port, University Park and beyond. Email: Greggg@MedallionHome.com

Lyons, Beaudry & Harrison, P.A.

1605 Main Street, Suite 1111 Sarasota, FL 34236 Phone Number: 941-366-3282 Representative: R. Craig Harrison Specialty: Lyons, Beaudry & Harrison, P.A. has served the people of Sarasota and Manatee counties for over 30 years, offering general legal services with an emphasis on Wills, Trusts, Estates and Estate Planning, Real Property, Litigation, Arbitration and Mediation. The lawyers of Lyons, Beaudry & Harrison, P.A. provide their clients with the highest quality legal services Email: Craig@lyonsbeaudryharrison.com

Sarasota Realtor® Magazine

FEBRUARY 2011

E DUCATION & E VENTS C ALENDAR Monday

9 a.m. Design Web Page 1:30 p.m. MLXchange Advanced

9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings

9 a.m.– 4 p.m. New Member Orientation & Code of Ethics

Feb. 1 8 a.m. GRI #1

Wednesday 2

7:30 a.m. Toastmasters

8 a.m. GRI #1

Thursday 3

8 a.m. Power Marketing (University Park CC)

9 a.m. CID Commercial Marketplace

1,200 1,000

9 a.m. Core Law/14 Hrs CE 9 a.m. MLXchange Advanced 1:30 p.m. Design Web Page

8:30 a.m. CID General Membership

9 a.m. 14 Hrs CE (Cont.)

8 a.m. Power Marketing (SAR)

9 a.m. CID Commercial Marketplace

600 400 200

7:30 a.m. 8 a.m. Toastmasters Power Marketing 9 am (SAR) Global Business Seminar 12 p.m. RAJC Short Sale Update

9 a.m. CID Commercial Marketplace-Off Site

March 1

9 a.m. Tax Short Sale Seminar

8 a.m. Power Marketing (SAR)

8 a.m. Power Marketing (University Park CC)

18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0

9 a.m. CID Commercial Marketplace

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

My Florida Regional MLS Training

23 9 a.m. Emerging Leaders

9 a.m. Creating a CMA 1:30 p.m. iMAPP 5 p.m. Affiliate Social The Loft Ristobar

800

9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings

150

Friday

SAR CLOSED PRESIDENT’S DAY

200

100

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

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

Jan. 31 8 a.m. GRI #1

Tuesday

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

FEBRUARY 2011

250

Condo

250 200 150 100 50 0 Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10 May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

New Listings

Nov‐10

Dec‐10

Single Family Condo

1,200 1,000 800 600 400 200 0 Dec‐09

Jan‐10

Feb‐10 Mar‐10

Apr‐10 May‐10 Jun‐10

Jul‐10

Aug‐10

Months of Inventory 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 Dec‐09

Jan‐10

Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10

Jul‐10

Sales Volume $200,000,000 $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Single Family Condo

Sep‐10

Oct‐10

Nov‐10 Dec‐10

Single Family Condo

Sarasota Association of Realtors® MLS

Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10

Jul‐10 Aug‐10 Sep‐10 Oct‐10 Nov‐10 Dec‐10

The Xtra Pages - Digital Version Only

Single Family

Days on Market

2010 - Fourth Quarter Report Single Family Sales ‐ By Quarter

REO

Short

Arm's Length

1200 1000 800 600 400 200 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4

Condo Sales ‐ By Quarter

REO

Short

Arm's Length

500 400 300 200 100 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4

Single Family Median Sale Price

REO

Short

Arm's Length

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2008‐2ndQ

2008‐3rdQ

2008‐4thQ

2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

Condo Median Sale Price

2010‐Q1

REO

2010‐Q2

Short

2010‐Q3

2010‐Q4

Arm's Length

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000

Source: Sarasota Association of Realtors®

$100,000 $50,000 $0 2008‐2ndQ

2008‐3rdQ

2008‐4thQ

2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

Single Family Condo

REO Sales ‐ By Quarter 600 500 400 300 200 100 0

2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 Single Family

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0

2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4

Arm's Length Sales ‐ By Quarter

Single Family Condo

1200 1000 800 600 400 200 0 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4

Source: Sarasota Association of Realtors®

Annual Sales ‐ 2000 to 2010 Single Family

Condo

Total

11267 10562 9697 8167 7603

7,596 7036

6533

6,841

6,504

6739

6358

6042

5,603

4,626

4,353

4,349 3,193

3,922

3,721

3,671

2,564

2,096

2,137

2,120

2,005

1,194

2000

2001

2002

5,466

5,183

4,940

2,184

5820

2003

2004

2005

2006

2007

2008

1,556

2009

2010

Annual Median Sale Price ‐ 2000 to 2010 Condo

Single Family

$351,000

$342,000

$272,500 $305,000

$226,000 $172,500

$132,300

2000

$303,000

$210,000 $163,000

$230,000

$191,000

$142,000

$320,000

$301,225

$225,000

$191,000

$336,250

$173,000 $160,000

$145,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$163,000

2010