Srmagoct2013 web by REALTOR® Association of Sarasota and Manatee

Sarasota

OCTOBER 2013

REALTOR

The Official Monthly Publication of the Sarasota Association of Realtors®

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Contents

Sarasota Realtor® Magazine Volume 10, Issue 10 OCTOBER 2013

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

Historic Times

The Sarasota Association of Realtors® is enjoying an historic

2013 SAR Officers

90th anniversary year in 2013, and looks forward to even greater

days ahead as the new officers and board prepare for 2014!

President Roger Piro Town & Country Realty

10 NAR Positions

Congress is addressing several important issues to the

commercial real estate industry, and business community

in general, and the NAR has released its position statements.

Volume 10 • Issue 10 •OCTOBER 2013

12 Income-Producers Sarasota County Property Appraiser Bill Furst looks at the

improving local trends for income producing property,

and the impact on the overall real estate industry.

14 Major Change

The SAR Board has decided to change the statistical report

in a very fundamental way - reporting the sales, prices and related statistics for Sarasota County, rather than our members’ activity.

The CID will hold its annual Charity Golf Tournament

on Oct. 28th at The Founders Club, and the event will

benefit cancer research, a very worthy cause.

20- Education Programs 24- On the SAR Scene 30- Membership

ON THE COVER

The new SAR Officers and Board for 2014 were unanimously elected on Sept. 20th. Officers are: Stafford Starcher, President-Elect; Roger Piro, Immediate Past-President; Peter Crowley, President; Xena Vallone, Treasurer; and Amy Worth-Paul, Secretary.

32- Calendar of Events/Education 4

OCTOBER 2013

Mission Statement The mission of the Sarasota Association of ® Realtors is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics. We are committed to be the leading advocate of real estate in the communities we serve by protecting private property rights and expanding relationships with individuals and organizations both locally and worldwide. Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc.

Editorial Staff Director of Communications Ray Porter

Director of Information Technology Jesse Sunday Director of Professional Development Catherine McCaskill Governmental Affairs Director Marc Mansfield

Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 or ray@sarasotarealtors.com.

10- Governmental Affairs

18- Commercial Investment Division

Immediate Past President Laura Benson Michael Saunders & Company

Production Coastal Printing, Inc.

In every issue 15- Sales and Listing Statistics

Treasurer Stafford Starcher RE/MAX Alliance Group

Director of Membership and Administrative Services Dan Andrews

18 Swing for Charity

12- Property Appraiser

Secretary Xena Vallone Xena Vallone Realty

Chief Executive Officer Kathy Roberts

President-Elect Peter Crowley RE/MAX Alliance Group

Sarasota Realtor® Magazine

Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor ® magazine. A yearly subscription for Sarasota Realtor ® magazine is available to non-members for $25, plus Florida sales tax. Editorial ideas and manuscripts are welcome. Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing. 2013 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

www.sarasotarealtors.com

Affiliate Spotlight on Kirk Bradley

SAR Elects Officers, Directors

SAR members elected the 2014 officers and directors and approved revisions to the Bylaws at the Annual Meeting on Friday, Sept. 20. Officers for 2014 are: President: Peter Crowley, RE/ MAX Alliance Group; President-Elect: Stafford Starcher, RE/MAX Alliance Group; Treasurer: Xena Vallone, Xena Vallone Realty; Secretary: Amy Worth-Paul, RE/MAX Platinum Realty; and Roger Piro, Town and Country Real Estate, will serve as Immediate Past-President. Directors elected to serve a 3-year term are: Georgina Clamage, Michael Saunders & Company; Alex Krumm, RE/MAX Alliance Group; Margo MacKenzie, Wagner Realty; Steve Rider, Florida Internet Realty; and Bob Stanley, Coldwell Banker Residential. Director elected to serve a 1-year term is Joyce Steward, Joyce Steward Real Estate. Directors whose terms continue in 2014 are: Steve Bailey, Coldwell Banker Residential; Michael Davenport, King Realty; Joe C. Hembree, Hembree & Associates; Debbie Judge, Michael Saunders & Company; Marianne LeBar, Michael Saunders & Company; Brad Lindberg, Sperry Van Ness Commercial; Renee Marquiss, Xena Vallone Realty; Christina Pitchford, Allen Real Estate Services; and Kristin Triolo, Florida Homes eBroker. The SAR Installation Luncheon has been set for Wednesday, Dec. 11th beginning at 11:30 a.m. at Michael’s On East,1212 SE Ave., Sarasota.

The October 2013 SAR Affiliate Spotlight is on Kirk Bradley of On-Time Pool Service, Inc. Kirk started On-Time Pool Service, Inc. in 2004 after a 20 year career in food technology. He has both a Bachelors and a Masters degrees in Science that have proven to be a great assistance in the chemical aspects of pool care. Kirk and his wife, Ali, met in Sarasota in the early ‘90’s but his job relocation forced them (and son) to Chicago for six years. Their dream of returning to Sarasota was finally answered in 2000 and they vowed never to Kirk Bradley leave again. When another job location change was pending, On-Time Pool Service was created. All SAR members and their clients are offered a free pool review that includes full equipment appraisal and water analysis. Kirk can be reached at (941) 224-0404 or via the website www. ontimepoolservice.com.

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Cover Story 6

Historic Times

SAR and the local real estate industry are making history

for whom the Whitaker Bayou is named, built his Editor’s Note: Our cover photo this month is of log cabin at “Yellow Bluffs”, so named because of the 2014 SAR Officers, taken on the day they were elected to their new posts. Behind them on the wall its outcroppings of yellow limestone. Ironically, the Whitaker cabin, the first real estate investment in are some of the earliest SAR Presidents, from the Sarasota, was burned to the ground by Seminole early 1920’s. raiders in 1865. It seems the “No Growth” crowd of The year 2013 has been an exciting one so far for that day won the first round, but many more would the Sarasota Association of Realtors®, and for the follow. entire local real estate industry. Sarasota evolved over In SAR’s 90th anniversary the years to become an year, the Association has seen idyllic fishing village in dramatic change. SAR opened a 1920, with less than 3,000 new flagship headquarters. The residents. It was during local (and national) real estate the 20s that the area had market has emerged from five its first bonafide real estate years of doldrums and in Sarasota boom, with resort hotels, is heading toward historic, golf courses, a beachfront near record sales numbers. casino, and housing The Sarasota economy has developments springing rebounded, with construction up everywhere. The and tourism leading the way. population tripled, and in And, perhaps most important, this heady era, the Sarasota the level of energy, enthusiasm Association of Realtors® was and excitement of our members chartered in 1923. has climbed to new heights, with innovation and a forwardBuying and selling real thinking attitude propelling SAR estate became akin to a into a bright future. gold rush - if you had the land and homes, you were Only a few short years ago, golden. Until 1926, that is, with home sales and prices when the Great Depression dropping, the economy in the hit and property values throes of recession, jobs and tanked. Many people residents fleeing, and the real Norma Martin speaks at a local WCR event. saw their dreams quickly estate industry seemingly at a vanish, including circus standstill, no one could have magnate John Ringling, predicted the current optimistic who lost almost his entire fortune. picture. But many people who had lived through previous market peaks and valleys did note at the time SAR established a tenuous foothold through those that Sarasota generally leads the nation out of real stormy economic days, and even survived an actual estate recessions. storm (the 1926 hurricane that devastated Miami and crossed over to wreak havoc in Venice and Sarasota). As Antonio said to Sebastian in Shakespeare’s immortal play “The Tempest,” “What’s past is Norma Martin, who joined SAR in 1959, has held prologue.” In short, we’ve been through similar times SAR membership the longest, with 54 years. She before, and hopefully have learned valuable lessons in was also one of the original founders of the Sarasota the process for the future. Women’s Council of Realtors®. She recalls moving to Sarasota in 1946 from Cleveland, Ohio, and finding The Sarasota area was first settled in the 1800s. a beautiful, quiet community. She became the official The first permanent white settler in the Sarasota area was William H. Whitaker, who was deeded 144.81 Continued on P. 29, See HISTORIC acres on Sept. 1, 1851, on Sarasota Bay. Whitaker,

OCTOBER 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota Main Street looking northeast at Palm Avenue as it appeared in the early 1900s, and in 2007.

In 1968, the Sarasota MLS book displayed this image of the areaâ&#x20AC;&#x2122;s neighborhoods, which consisted primarily of the keys, and the neighborhoods of Gulf Gate, South Gate, Kensington Park and the Sarasota downtown. This was the area worked by Norma Martin and others who practiced real estate during this period. It was prior to Interstate 75, Sarasota Square Mall, the Palmer Ranch communities, and even the connection between Beneva Rd. and Fruitville Rd. www.sarasotarealtors.com

Sarasota RealtorÂŽ Magazine

OCTOBER 2013

Cypress Falls, Vernon Hill II Great Room

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Put yourself in a better place™

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

NAR: Value of homeownership remains vital

The following is a statement by National Association of Realtors® President Gary Thomas: “In his speech today, President Obama reflected on the five years since the financial meltdown and on the housing market’s steady return from the epoch of underwater mortgages, foreclosures and frozen credit. With NAR’s support, the administration enacted key policies to stabilize the market, recover home values, ensure access to affordable credit, and most importantly, renew faith in the value of homeownership. “Realtors® supported efforts to help more than 7 million underwater homeowners refinance their homes or modify their mortgages through the Home Affordable Modification Program and two iterations of the Home Affordable Refinance Program. Additionally, NAR worked with the

Treasury Department to develop a program to help homeowners avoid foreclosure. “To reinvigorate home sales, NAR led the charge to pass the temporary home buyers’ tax credit, which helped millions of Americans buy a home. When private lenders fled the market and stymied access to mortgage insurance, Realtors® advocated reforms to the FHA Single-Family Mortgage Insurance Program so that it could continue to make mortgages available to qualified home buyers. “To protect future home buyers from unscrupulous lending practices, NAR continues our work with the administration and Congress to develop new lending standards that create opportunities for private capital to re-establish itself as part of a robust and competitive mortgage market. Gary Thomas “NAR continues to advocate a system that ensures creditworthy buyers always have access to safe, reliable mortgages such as 30- and 15-year fixed-rate loans, even in tough economic times when private lenders cannot, or will not, enter the market.”

Big wins in tough climate

Statement From Gary Thomas: We’re working through some of the toughest threats to our business right now, and it will be years before we have real clarity on many of the federal issues we’re dealing with. But your association has chalked up an array of impressive victories that shouldn’t go unnoticed. Our success this year has been thanks in no small measure to the power you show every time you write a letter to your members of Congress or meet your representative or senator in person, whether at home or in Washington. Let’s look at our latest victory: the qualified residential mortgage rule, which regulators released in late August. The rule largely tracks the qualified mortgage rule that regulators released last year. Both rules set parameters that lenders must follow to have their loans considered qualified. “Qualified” in the case of QRM means lenders don’t have to hold back 5 percent of the loan amount in capital reserves; in the case of QM, it means the loan is eligible for purchase or guarantee by Fannie Mae and Freddie Mac. These standards seem like a simple matter. But had the rules not gone our way, they would have had enormous implications on the availability of affordable, longterm financing for your customers. The QRM rule, which applies to loans that are packaged into securities and sold on the secondary market to investors, adopts the reasonable QM approach that NAR sought. That represents a huge victory; the original proposed rule included a minimum down payment requirement, which could have been catastrophic for affordable mortgage availability. Although banking regulators left open the door for more feedback on the minimum down payment approach, that approach is unexpected to gain currency.

www.sarasotarealtors.com

Bob

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Sarasota Realtor® Magazine

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Governmental Affairs

Marc Mansfield can be reached at 941.952.3410

Commercial issues confront Congress

Commercial issues continue to be front and center in Congress. Many of the issues shown below are important to not only commercial Realtors® but the general business community as well. NAR has provided a brief update on several of the important issues shown below: Carried Interest: Proposals to modify the existing carried interest rules were reintroduced during the 112th Congress and will likely be reintroduced during the 113th Congress. These proposals could have a negative impact on real estate partnerships. The carried interest mechanism for real estate partnerships is a standard operating practice not historically treated as a “loophole” but rather a reward for entrepreneurs who take risks inherent in new projects and in making capital investments. NAR Action: NAR consistently opposes any proposal that would eliminate capital gains treatment for any carried interest of a real estate partnership. NAR has written to Congress regarding its strong opposition to modifying the current tax treatment of carried interest income. Commercial Lead-Based Paint: The Environmental Protection Agency (EPA) is considering federal rules that may regulate renovation and remodeling activities in public and commercial buildings to address possible lead-based paint hazards. The EPA held a public hearing on the subject in June 2013. NAR Action: NAR testified at the hearing on June 26th and stated EPA must justify its efforts to apply new lead paint regulations to public and commercial buildings. Covered Bond Market: Covered bonds are securities whose underlying assets are typically a pool of commercial or residential mortgages or public sector loans. These types of bonds could represent a potential funding source in the U.S. housing finance system as well as an alternative to securitization that could help address ongoing refinancing challenges in the commercial real estate sector. NAR Action: NAR has sent letters to the U.S. House and the relevant House and Senate

OCTOBER 2013

Committees along with signing on to multiple coalition letters supporting the creation of a covered bond market in the United States. Credit Union Lending: Legislation has been introduced to raise the artificial credit union business lending (MLB) cap from 12.25% to 27.5% for well capitalized credit unions. NAR Action: NAR has testified three times in support of the proposal, also submitting two statements for the record at the hearings. NAR has also sent several letters to the U.S. Senate and House of Representatives urging passage of this important piece of legislation. The issue was a talking point for the 2012 NAR Mid-Year Legislative meetings. Lease Accounting: The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have proposed new accounting rules that would force many companies to capitalize commercial leases onto their balance sheets. Larger balance sheets would force lessees to shorten lease terms to minimize costs. Since lessors raise financing by using the leases and the value of the property as collateral, the amounts they could borrow in the future could be reduced if lease terms are shortened. NAR Action: NAR has written letters and added its voice to a coalition of leading nonprofit and commercial real estate organizations to express concern over the new lease proposals. NAR also released a report examining the economic impact of the proposed lease standards and has requested both accounting boards to conduct a comprehensive examination of the costs and benefits of their lease proposals.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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Income producing property trends are on the rise

MOBILE HOMES: Real or not Real (Property that is) Income Producing Property Trends On The Rise

Mobile dwelling units can be traced as far back as the 1500s. Throughout In July this column focused on the overall real property marketplace, with much of Europe the Romani, or Gypsies as they are sometimes called, an emphasis on Sarasota County’s biggest driver – residential property.

were known for their live-aboard horse-drawn wagons. With the advent of the automobile the popularity of camping trailers skyrocketed. The This month income producing property is in the spot light. principle was still the same – the travel trailer was often used as a home away from home during camping or extended travel..

The excitement surrounding the new international rowing center at By Bill Furst, GRI, CRS, CRB University Parkway and I‐75 is surging through the retail, food service and Sarasota County Property Appraiser Mobile homes as we think of them now are a phenomenon of the postIn July this column focused on the overall real property tourism sectors of the market. The existing shopping centers surrounding World War II housing with boom. need for and readily available marketplace, anThe emphasis onaffordable Sarasota County’s biggest the rowing venue are booming, along with Benderson’s new construction ‐ housing driver turned–the humble no-frills camper into a multi-bedroom, fully residential property. a combination of upscale shopping and hotels – rising quickly. The demand plumbed, kitchen-equipped, single family home. Theismobility part This month, income producing property in the spotlight. for rooms, eateries and support services is spreading throughout the devolved into transporting the “vehicle” from the factory to a piece of The excitement surrounding the new international rowing greater Sarasota and Manatee marketplace in anticipation of the World land where it got the ground up to utilities. Those center at fastened UniversitytoParkway andand I-75hooked is surging through Championships in 2017. Sports tourism has become a significant market lots werethe and are typically located in mobile home parks. A recent trend, retail, food service and tourism sectors of the market. factor. as reported the major manufacturers, has been the of Theby existing shopping centers surrounding theresurgence rowing venue booming, along- energy with Benderson’s new construction -a interest are in modular homes efficient, environmentally sensitive, combination of are upscale shopping hotels –ofrising quickly. assembled components shipped to theand lot instead the whole house. Population growth in south county is pushing new construction of th eateries and support services is The demand for rooms, Back in the first half of the 20 century you could buy a modular house shopping centers and increased occupancy in existing properties. spreading throughout the greater Sarasota and Manatee from Sears! marketplace in anticipation of the World Championships in Multi‐family properties are doing very well. Value increases in this market 2017. Sports tourism has become a significant market factor. Over the past 60+ years what started out as a solution to housing for segment could be construed as part of the recovery of the foreclosure Population growth in south county is pushing new veteransconstruction has evolved of into affordable housing retireesoccupancy and many in parks shopping centers andfor increased epidemic. Folks with bruised credit are seeking rentals while they take a market themselves as “Over 55” communities. To avoid violating Federal existing properties. time‐out from home ownership. And various studies show younger people and FloridaMulti-family Fair Housingproperties laws a community specific standards are doingmust very meet well. Value increases in not sharing older generations’ dreams of ownership, preferring the to be considered housing for older persons. More information is available this market segment could be construed as part of the recovery flexibility of tenancy as they navigate the new economic realities. at www.hud.gov or from the Florida Commission on Human Relations at of the foreclosure epidemic. Folks with bruised credit are seeking rentals while they take a time-out from home ownership. www.fchr.state.fl.us/resources/55_housing. Manufacturing tied to the housing market is rebounding. PGT has recently And various studies show younger people not sharing older generations’ dreams of ownership, the flexibility oflots acquired adjacent land for expansion of their facility in mid‐county. Mobile home parks fall into two categories:preferring tangible parks where the tenancy as they navigate the new economic realities. Existing light industry properties are experiencing increased demand from are owned by a single entity and rented to individual mobile home Manufacturing to the housing is isrebounding. service businesses tied to the growth in new home construction, but owners, (homes are taxedtied as vehicles and the market property classified as a PGT has recently acquired adjacent land for expansion of their owners of those properties are still reporting higher than optimal vacancy commercial use for tax purposes), and real property parks where are the lots facility in mid-county. Existing light industry properties by the residents either in fee from simple or held in a cooperative rates. are owned experiencing increased demand service businesses tied with members having 99 – those mobilebut homes areoftaxed to the growth in year new leases home construction, owners thoseas real property and classified as residential use. properties are still reporting higher than optimal vacancy rates. Assisted Living Facilities continue to show strong demand. Several large Assisted Living Facilities continue to show strong demand. facilities came online in the past year. Traditional medical/healthcare In Sarasota County are approximately tangible home Several largethere facilities came online in7,600 the past year.mobile Traditional properties are in flux as providers adjust their business models in response medical/healthcare properties are in flux as providers adjust their lots in 55 parks. There are almost 12,000 real property lots in 33 parks. A to the new health care law. business models in response to the new health care law. few real property mobile homes, less than 2%, are on land outside of a Agricultural once again by the park. The real propertyland parksis range in sizebeing from gobbled 35 lots toupover 1,200 lots. Agricultural land is once again being gobbled up by the thousands of acres. thousands of acres. Cash-flush developers and investors have In comparison, Manatee County has just over 13,000 real property lots Cash‐flush developers and investors have jumped on comparatively low jumped on comparatively low priced acreage to build on now while Charlotte County has just over 9,000 real property lots. Residentsorof land-bank for the future. priced acreage to build on now or land‐bank for the future. For more real property parks may be eligible for the homestead exemption if they Broadly speaking the income propertyour market to be in are otherwise qualified. Owners should contact officeseems for more information, recovery. Broadly speaking the income property market seems to be in recovery. contact theinformation. However, if your property is not experiencing that trend However, if your property is not experiencing that trend please respond to Property please respond to the request for financial information we mail Appraiser the request for financial information we mail every January. Together we every January. Together we can arrive at a fair and equitable Bill can arrive at a fair and equitable value for your property. Furst’s value for your property.

Statutes and Rules pertaining to Statutes and Rules Governing the Mobile Homes and Mobile Home Valuation of Commercial Property

Parks.

§703.003(3) Florida Statutes: The

term “mobile home” means a §192.0105(4): Taxpayers Bill of residential structure, transportable in Rights

one or more sections, which is 8 body feet or more in width and over 35 The right to have information kept body feet in length with the hitch, confidential and the right limiting built on an integral chassis, designed access to a taxpayer’s records to be used as a dwelling when determined to be necessary in connected to the required utilities and determining the classification or value not originally sold as a recreational of non‐homestead real property. vehicle, and includes the plumbing, heating, air conditioning, and electrical §193.074: Confidentiality of systems therein.

Returns

§708.003(6 ) Florida Statutes: The

All returns submitted by the taxpayer term “mobile home park” or “park” pursuant to the law shall be deemed to means a use of land in which lots or be confidential in the hands of the spaces are offered for rent or lease for property appraiser. the placement of mobile homes in which the primary use of the park is

§193.011: Factors to consider in residential. deriving just valuation

§193.075(1) Florida Statutes: A mobile

In arriving at a just valuation as home shall be taxed as real property if the owner of the mobile home is also required under x.4, Art VII of the State the owner of the land on which the Constitution, the property appraiser mobile home is permanently affixed. A shall take into consideration the mobile home shall be considered following factors: (7) The income from permanently affixed if it is tied down said property. and connected to the normal and

usual utilities. Chapter 12‐D1.005 FAC Access to Financial Records FAC 12D-6.001(4)(a): Ownership of

the land may be through a The property appraiser shall have the “cooperative” wherein the beneficial right to inspect and copy financial use is evidenced by an ownership records relating to non‐homestead interest in the cooperative association property which are reasonably and a lease or other muniment of title necessary to determine the property or possession granted by the assessment of the property in question cooperative association as the owner of all the cooperative property.

All records produced under this rule shall be deemed to be confidential in the hands of the property appraiser.

For more information please contact the Property appraiser’s office at PA@SC-PA.com or 941.861.8200.

For more information please contact the Property appraiser’s office at PA@SC‐PA.com or 941.861.8200.

office at 941.861.8200. 12

OCTOBER 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Cypress Falls, Vernon Hill II Great Room

VENETIAN FALLS VENICE FROM THE MID $100s

RIVERWOOD PORT CHARLOTTE FROM THE MID $100s

CypRESS FALLS NORTH PORT FROM THE MID $100s

• Final Closeout!

• 1,557-3,193 sq. ft.

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• Clubhouse, Golf Course and Beach Club

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• Clubhouse, Resistance Pool, Putting Green and More

Schedule a visit and register your clients today. Call 866-290-9110 or visit centex.com to learn more.

Put yourself in a better place™

Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 12/5/12. CBC057850.

We are revamping our statistics: Why?

The methodology the Sarasota Association of Realtors® has used in reporting real estate sales statistics has changed this month. Previously, the sales reported were based on activity of SAR members, regardless of the location of the property, so statistics included sales in Manatee County, Sarasota County, even out of state or international sales of properties listed by SAR members. In 2008, when the five Realtor® Associations in the area joined My Florida Regional MLS, the Associations concluded that they would continue reporting on the basis of their member activity in the market, because they otherwise would have been unable to compare current statistics to previous reports, as there were none based on geographic location, only member-based. Recently, the leaders of the five Associations reconsidered the decision, concluding that the media, consumers, and even

Realtors®, were interested in activity based on location rather than membership, and decided to change the methodology of reporting. Since the Florida Realtors® provides each of the Associations in the state with statistical reports based on county and MSA, historical information is now available for comparison purposes when we report current statistics. It is important to note that statistical reports for previous periods are posted on the SAR website, but cannot be used for comparison to reports issued starting this month, because the basis for the statistics is entirely different – it would be like comparing apples and oranges. Watch for additional changes in the future, as the SAR Communications Committee makes recommendations regarding the current statistical categories.

CRS 201: Listing strategies ensure your success or her a strong competitive edge. Only those professionals who learn proven listing strategies will win over the client and increase their conversion rate. Listing Strategies provides students with the important skills necessary to conduct successful listing presentations, price a home to sell, close the transaction and market and promote effectively. The course takes students through an actual listing presentation that helps Listing Strategies for the Residential Specialist (CRS 201) them understand the key steps in this process and create a will help you identify the motivations and concerns of today’s system for success. sellers—and help them close the deal. Course Content: - Learn to price effectively in the current market and get a • Conducting an effective listing presentation faster sale • Seller guidance and counseling - Access scripts to work with your clients and get their house sold at a fair price • Pricing a home to sell - Communicate with your clients and create a dynamic of • Closing techniques trust and loyalty • Marketing plans and servicing systems The quality of an individual’s listing skills can give him • Sellers’ needs and motivations s t n CRS educators are leading professionals y age ps m usiness h el b e who bring practical experience to each r o m do course, cutting through the hype and offering you real-world solutions. In CRS two-day courses you’ll meet other top agents for prime networking opportunities. Find out what A message from one of our local real estate brokers, works for other pros—and what doesn’t, so Darcie Duncan from Duncan Real Estate, Inc. you’re not stuck re-inventing the wheel. Contact one of our When you earn the CRS Designation, Residential Lenders “Insignia Bank valuable partner. you become part of a network of more understands Using Insignia today! than 30,000 Certified Residential Specialist that not every Bank gives me the Downtown Office Designees and Candidates/General Members. borrower or confidence that I 941.366.7100 To learn more about the Designation and 333 North Orange Ave. situation is have provided my Sarasota, FL 34236 about CRS courses coming to a location near the same. The clients with every you, visit www.crs.com. Individuals who Cattlemen Office ever-changing opportunity to 941.342.5000 take this course will earn 16 CRS Education 5850 Fruitville Road environment of purchase the course credits towards the CRS Designation. Sarasota, FL 34232 the real estate property they www.insigniabank.com For more information on other CRS Courses industry makes desire and helps or obtaining the CRS Designation, the having a lender who can me and my agents to do premier Designation for residential real estate think ‘outside the box’ a more business.” professionals, visit www.crs.com. Title: Listing Strategies for the Residential Specialist Date/Time: Monday-Tuesday, Oct. 21-22, 8 a.m. to 5 p.m. Location: SAR Auditorium Instructor: Chandra Hall, CRS Cost: $300

the

COMMUNITY BANK

OCTOBER 2013

Sarasota Realtor® Magazine

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August 2013 Sales Up 11.6 Percent Over Last Year

The August 2013 property sales in Sarasota County stood at 957, a dozen sales less than recorded in July 2013, but 11.6 percent higher than in August 2012. In addition, the median sale price for single family homes in the county rose to $195,000, 30 percent higher than last August’s figure of $150,000, and higher than July’s figure of $189,900. Condo prices were at $161,000, slightly higher than July’s figure of $159,000 and 7.1 percent higher than last August’s figure of $148,889. Monthly median prices are susceptible to swings based on sales at one end of the price spectrum. A look at the 12-month rolling median removes that volatility. The 12-month rolling median sale price for single family homes was $176,500 in August 2013, up substantially from the August 2012 figure of $146,100, and also up from the July 2013 figure of $173,000. For condominiums, the figure was $160,200 this August, compared to $150,000 a year ago, and $160,000 in July. The price trend is clearly upward. Pending sales stood at 864 in August 2013, up about 1.7 percent from the 849 figure in July 2013 and up 6.8 percent from last August’s total of 808. Pending sales represents properties that went under contract during the month, and indicates sales in September and beyond could also be at higher levels. “The Sarasota County real estate market is healthy and robust,” said SAR President Roger Piro. “Clearly, the single family home market is currently leading the way, with the median sale price up 30 percent from last August. This is a competitive market, with low inventory and demand still at a fever pitch.” The inventory rose slightly in August to 3,793 from the July figure of 3,747, which was the low point in Sarasota County for the past 12-month period. The inventory has dropped 15 percent from February 2013, when it stood at 4,491. It was at 3,953 last August. Declining inventory generally results in greater competition for available homes and condos and subsequent price escalation. “The basic law of sales is true for real estate,” said Piro. “Lower supply for a valued, sought after product generally yields higher prices. And real estate in Sarasota County is a highly valued commodity.” The August 2013 months of inventory in Sarasota County stood at 4.2 months for single family and 4.0 months for condos, with both property categories at low levels below 6 months, which is considered a balanced market between buyers and sellers. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last August there were also 4.2 months of inventory for single

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“The Sarasota County real estate market is healthy and robust.” - SAR President Roger Piro family homes and 5.2 months of inventory for condos. In July 2013, the figures were 4.1 and 4.2, respectively. Currently, 499 properties listed for sale in Sarasota County in the MLS are short sales or foreclosures. This represents 13.2 percent of available properties. Sales of distressed properties represented 20.6 percent of the overall sales in August 2013, down from the July 2013 figure of 22.7 percent. In August 2012, the figure was 34 percent, and the downward trend is another positive market sign. “We are optimistic that the remainder of 2013 will continue the positive trend in local real estate, and judging by the amount of foot traffic reported at open houses, the multiple property offers and the generally positive economy, we anticipate a great year and continued success into 2014,” said Piro.

Sarasota Realtor® Magazine

OCTOBER 2013

Sarasota MLSSM Statistics - August 2013 Single Family

Unit Sales

Condo

800 700 600 500 400 300 200 100 0 Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

May‐13

Jun‐13

Jul‐13

Aug‐13

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

May‐13

Jun‐13

Jul‐13

Aug‐13

Single Family #Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

% Price Original

This Month

2,570

645

32.4

$195,000

$176,500

4.2

603

32.6

885

94.2

This Month Last Year

2,618

593

24.3

$151,000

$146,100

4.9

547

23.7

667

91.8

2,478

684

27.6

$189,900

$173,000

4.1

599

24.2

808

93.4

5,137

$183,500

6,124

6,690

Last Month YTD

Statistics were compiled on Sarasota County properties in the MLS as of Sept. 15th, 2013. Single-family statistics are tabulated using the property style single-family home. Condo statistics include condo, co-op, villa and townhouse. 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. DOM indicates the average number of days that sold properties were on the market before a contract was executed.

Editor’s Note: With this month’s statistical report, SAR will no longer report exclusively on SAR-member sales. Instead, the monthly report will reflect all sales activity in Sarasota County reported in the MLS system, regardless of the Realtor®’s association membership. Source: Sarasota Association of Realtors® 16

OCTOBER 2013

Sarasota Realtor® Magazine

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, or®’s

Sarasota MLSSM Statistics - August 2013 Single Family Condo

Inventory 3,500 3,000 2,500 2,000 1,500 1,000 500 0 Aug‐12

Sep‐12

Oct‐12

Nov‐12 Dec‐12

Jan‐13

Feb‐13 Mar‐13 Apr‐13 May‐13 Jun‐13

Jul‐13

Aug‐13

Jul‐13

Aug‐13

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

May‐13

Jun‐13

Condo This Month This Month Last Year Last Month YTD

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

% Price Original

1,223

312

25.5

$161,000

$160,200

4.0

261

21.3

333

92.6

1,568

261

16.6

129

$148,777

$150,000

5.7

213

13.6

284

88.7

1,269

285

22.5

100

$159,000

$160,000

4.2

250

19.7

340

92.0

2,674

104

$160,000

2,340

2,499

Sarasota Realtor® Magazine

Sarasota Association of Realtors® MLS OCTOBER 2013

Commercial Investment Division

CID golf tourney benefits cancer research

12th Annual CID Charity Golf Tournament & Reception Date: October 28, 2013 Location: The Founder’s Club, 9000 Fruitville Road, Sarasota, FL 34240 8-10 a.m. Sign-In and Chef Attended Breakfast 10 a.m. Shotgun Start (Chef attended lunch provided throughout course) 3 to 5 p.m. - Reception and Raffle prizes (Cash bar open 3 p.m.) Proceeds of this event will benefit Team American Cocktail Society in the American Cancer Society’s

upcoming Making Strides Against Breast Cancer fundraising walk, which takes place in nearly 300 communities across the county. Team American Cocktail Society is a local team that has walked together in this event for the last five years, raising funds throughout the year by organizing various community events. All funds raised are used to provide information and services to those battling breast cancer in our local community, and to fund the research to find a cure for this disease.

Commercial Marketplace Sessions Increase visibility for your properties, learn of new opportunities, and exchange information with commercial professionals. Deals are made at these sessions. 1st, 2nd & 4th Fridays at the SAR Auditorium 3rd Friday at the MAR offices NEW In 2013! The monthly general meeting (3rd Tuesday) will now include a Marketplace session, giving members five opportunities each month to promote their listings.

Commercial Marketplace Sessions - Friday, Oct. 4th, 9 a.m. – SAR Auditorium - Friday, Oct. 11th, 9 a.m. – SAR Auditorium - Friday, Oct. 18th, 9 a.m. – MAR, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, Oct. 25th, 9 a.m. – SAR Auditorium CID General Membership Meeting Date: Tuesday, Oct. 15th, 8:30 a.m. Location: SAR Auditorium Program: Sports Tourism in our Community - A discussion of its impact on local economy and our commercial real estate market- CID Members Only

CID Monthly Meeting Schedule

Officers:

Linda Emery, CID President

2013 CID Officers & Directors

President: Linda Emery, Sperry Van Ness President-Elect: Lori Hellstrom, Osprey Real Estate Services Vice-President: Tim Mapp, Mapp Realty Secretary: Dave Roth, RE/MAX Alliance Treasurer: Tony Veldkamp: Sperry Van Ness Past President: Brad Lindberg, Sperry Van Ness OCTOBER 2013

Directors: Rico Boeras: Preferred Commercial Inc.(1 year - 2013) Ron Struthers: Coldwell Banker Commercial NRT (1 year 2013) Peter Skokos: Norton Hammersley (2 years - 2014) Kevin Robbins - Harry Robbins Associates (2 years - 2014) Susan Goldstein: Michael Saunders & Company (3 years2015) Roberta Kolton: Michael Saunders & Company (3 years 2015)

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ar -

4) -

Education Programs

SAR TechU - Get Your Head in the Cloud Event: Get Your Head In The Cloud – SAR TechU Date/Time: Wednesday, Oct. 9, 12 – 5 PM Cost: $20 (SAR Members)—Includes Lunch Register now at www.sarasotarealtors.com The SAR TechU features concise presentations by real estate professionals on the technology techniques that really work for our unique industry. Attendees can expect an immediate impact on their business through exposure to free state-ofthe-art tools. Breakout sessions will be held on five topics throughout the afternoon. The Five Free Websites You Can’t Live Without Moving your business to the cloud doesn’t have to be daunting or expensive! Use these free, full-featured programs to access your files, send beautiful dripmails, manage your personal or professional finances, streamline text followups, and manage your entire team’s transactions – right from the parking lot. Led by Alex Krumm, Re/Max Alliance Group. Blogging Your Way To Success Become your circle of influence’s go-to agent through the power of WordPress! Andy Metz of WebLadder Consulting will show you how to use this incredible free system to generate ‘push’ vs. ‘pull’ marketing, connect with influencers in our market, and establish yourself as a consummate professional. Over 1/3 of websites worldwide use this program as their primary content management system. Internet Leads: Catching Real Estate’s White Whale Buyers from all over the world are using the internet as their exclusive source for property information. Want to tap the market? You have to be where they are – and more importantly, you have to know how

to service them. Barry Grooms of Re/Max Alliance Group will show you how to tap this ocean of business and confidently convert ‘lookers’ into ‘buyers’ with easy-to-follow techniques and simple philosophies. SendOutCards: Making the Internet More Personal Come learn why Agents love using SendOutCards as way to be in better touch with others, in both a personal and business capacity. Send clients thank you cards with their home on it, include a gift card for that special client / vendor, send a just sold card to the entire neighborhood, etc. Keep in touch with them throughout the year with a multiple card campaign. Need to send a gift with your card? Don’t waste time running to the store to find a gift. With our extensive online Gift Catalog, you can choose from hundreds of gifts like chocolate brownies, gift cards, etc. - all without ever leaving the comfort of your home. Led by Jesse Sunday, Sarasota Association of Realtors®. Using Zillow To Create Business Be where the buyers are! Sam Herrera of Zillow will be here live to show you how the world’s #1 real estate portal can make you money. Step into a stream of new business!

Flood insurance changes may impact real estate

Catherine McCaskill, Professional Development, can be reached at 941.952.3404

Title: FEMA Update Date/Time: Oct. 28, 1 to 3 p.m. Location: SAR Auditorium Cost: FREE to SAR members, $15 others Register at www.sarasotarealtors.com Speakers: Marty Duran, Sarasota County Building Department, Director for Elevation; Dez Companion, Sarasota County CRS Coordinator; Sandy Emerson, National Flood Coordinator; Joe Sikora, BB&T Insurance; and SWFWMD representative (TBD) The Biggert-Waters National Flood Insurance Reform Act of 2012 provides long-term changes to the National

OCTOBER 2013

Flood Insurance Program. Under the new law, rates are likely to increase overall to reflect the true flood risk of your home and many insurance discounts will be eliminated. For example, rates for certain secondary homes in high-risk areas will increase 25 percent per year over the next 4 years starting in 2013. Policy rates for all properties could increase based on one or all of the following circumstances: Change of ownership; Lapse in coverage; Change in risk; Substantial damage or improvement to a building Some changes will depend on external factors such as when flood risk maps are revised, buildings are damaged or improved, or when flood claims are filed. Learn how these changes could affect you and your customers.

Sarasota Realtor® Magazine

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Congratulations to these Realtors who will earn 5% Commission for the rest of 2013! ®

• Amy Robinson with Coldwell Banker in Siesta Key • Judy Mazrin with Prudential Florida Realty in Venice • Fred Gibson with Remax Alliance Group in Sarasota • Arnold Kaufman with Coldwell Banker in Venice

The more sales you make in 2013 the higher commission rate you can earn!

on first sale!

on second sale!

on three or more sales!

On Any WCI New Home Sale Contracted Jan. 1 – Dec. 31, 2013.**

*Recorded sales as of September 8, 2013. **Contract must be fully deposited (under the terms of the agreement), and if applicable, out of rescission with all contingences met and all required deposits shall have been paid in full and cleared. Offer expires December 31, 2013. All commissions shall be paid at closing to the applicable broker provided all terms & conditions of the co-broker commission agreement have been met. The commission shall be calculated and paid in accordance with WCI’s Co-Broker Commission Program Agreement. Contact WCI Sales Director at Community Sales Center for specific closing requirements. Pictures shown may not be actual homes listed, but a representation of home designs available. Pricing and availability subject to change without notice. Void where prohibited. Offers are subject to change or cancellation without notice. All references to clubs and membership opportunities and other amenities are subject to fees, dues and availability. ©2013 WCI Communities, Inc. All rights reserved. CGC 031523

LOGO B/W - includes reversed out logo in all white

The Experience Is Everything.

Real estate settlement rules to change Title: Consumer Financial Protection Bureau (CFPB) Proposed New Rules Date/Time: Wednesday, Oct. 23, 10 to 11:30 a.m. Location: SAR Auditorium Cost: FREE to members; $10 others Instructor: John Gonzalez, CLC The Realtor®-Attorney Joint Committee has arranged another important seminar for SAR members. The New Consumer Financial Protection Bureau Proposed Rules will affect real estate settlements in the near future. Learn about the upcoming rules. Educate yourself and be more valuable to your customers before it happensincluding the new Closing Disclosure, the new Loan Disclosure, the new CFPB 3-6 day mandatory review period before the closing, closing costs tolerances, and what happens if you have a last minute change. How will this affect the way that you do business? Come to our preview of the CFPB proposed rules.

The instructor, John H. Gonzalez, CLC, Asst. Vice President, Old Republic Title Insurance, Manager of Florida Continuing Education, is an approved instructor with the Florida Department of Financial Services, The Florida Bar Association, and the Florida Real Estate Commission for continuing education credit hours

Dealing with distressed properties: What’s the latest? Title: Dealing with Distressed Real Estate Properties Date/Time: Wednesday, Oct. 30, 1 to 4:30 p.m. Location: SAR Auditorium 3 Hours CE for Real Estate Licensees Cost: $10 (SAR Members) Others: $15 Instructor: Linda N. Monaco, Esq., Legal Education Attorney, Attorneys’ Title Fund Services, LLC This seminar covers distressed residential property transactions from listing and contract through closing, including various government programs and title insurance issues. It is designed for both novices and experienced practitioners.

For those who may not have previous exposure to the federal programs, the handout materials include relevant resources relating to HARP, HAMP, HAFA and Fannie Mae’s Deed for

Lease program. For experienced practitioners, the focus of the presentation moves beyond these materials into FIRPTA (relating to short sales), advising clients concerning the applicability of the Mortgage Forgiveness Debt Relief Act of 2007. It then covers rules governing debt counseling, the line that can be crossed into unlicensed practice of law and an in-depth review of the two main short sale addenda in use in Florida. The seminar will conclude with a panel discussion and Q & A. Local attorneys JoAnn Koontz, Esq. Koontz & Associates, PL, and Michelle Champion, Esq., Berlin Patten PLLC, and Linda Monaco will participate.

SAR School of Real Estate plans Broker Course Broker Pre-License Course BK-2: Oct. 17-Nov. 21 Class starts Oct. 17 at 5 p.m. SAR Members by Oct. 7: $355.50 SAR Members after Oct. 7: $395 Non SAR Members by Oct. 7: $395 Non-SAR Members after Oct. 7: $420 (includes manual Florida Real Estate 22

OCTOBER 2013

Brokers Guide, 4th Edition) Tuesdays & Thursdays, 5 to 10 p.m. AND Saturdays, 8:30 a.m. to 1:30 p.m. End of Course Exam: On last day of course Each class limited to 15 students Instructor: Michael W. Davenport Location: 2320 Cattlemen Road, Sarasota, FL 34232

Sarasota Realtor® Magazine

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MLS training continues in October Pre-registration is required for all MLS classes at gopherit. mfrmls.com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot! If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR). MLS Basic Oct. 7 or Oct. 23, (FUSION), 9 a.m. to Noon Mandatory session for all new users, to be completed within 60 days of joining. This class will teach both new and returning agents the basic functionality in Fusion including search, printing and emailing. You will also learn about additional resources and member benefits provided by My Florida Regional MLS, and more. The class is also available online at: http:// mfrmlsuniversity.com or you may attend the class at SAR. • 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 • Personalize user contact information and basic agent website setup MLS Compliance 101 Oct. 7 or Oct. 23, 1 to 2:30 p.m. This is a mandatory class for all new members to be completed within 60 days of joining. Existing members must complete the class every two year period, current period May 1, 2012 – June 30, 2014. In this class you will learn about the My Florida Regional MLS Rules and Regulations and compliance procedures for accurately listing properties in the MLS Database, along with additional educational materials available on MFRMLSUniversity.com. • Rules and Regulations • Profile Sheet Terms www.sarasotarealtors.com

DocBox, Print Driver – the link to the paperless office through online faxing and document storage - 45 min • 3:45 to 4:15 p.m. - Authentisign – Use of electronic signatures for you contracts – 30 min

• iSmart Tool •MFRMLSUniversity.com Adding/Modifying Listings Oct. 7 or Oct. 23, 3 to 4:30 p.m. This class is mandatory if you will be adding and modifying listings in the MLS. (but all agents are welcome to attend!) You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques. This class is available through live webinars or you may attend at SAR. • Profile Sheets • Adding listings information to MLS • Adding Photos, attachments and open houses • ShowingTime and Virtual Tours Fannie Mae Workshop[ Oct. 16, 11 a.m. to 12:30 p.m., or 2 to 3:30 p.m. Update on Fannie Short Sale process; Update on Fannie REO process - Tips & open Q/A TransactionDesk Oct. 17, Various Times Below TransactionDesk is a transaction management program that allows the Agent to operate in a “paperless” office. Integrated with contract management software, it easily allows the Agent to manage your transaction from start to finish. We provide the following training classes for TransactionDesk: • 9 to 10:30 a.m. - Introduction to Transaction Desk– 90 min • 11 a.m. to Noon - Quick Start – Quick Start Groups & Activity Plans – Packaging Documents and creating workflows - 60 min • 1 to 2 p.m. - Forms and Documents – Creating and Managing forms and Contracts - 60 min • 2:30 to 3:15 p.m. - Instanet Fax, Sarasota Realtor® Magazine

iMapp Oct. 29, 9 to Noon In this class you will learn how to use the tax search features of iMapp. Including iMapp’s interactive maps, tax data, comparable, auto-valuations, and easily create mailing labels for your favorite area. • iMapp tax search; using map and criteria • Parcel views, 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 Advanced Map Based Searches Oct. 29, 1 to 2 p.m. This class will teach you how to utilize the map in MLS. Creating map based searches, searching by map for CMA’s and printing maps along with map views • Search by Radius, Rectangle or Polygon • View Listings on a Map • Utilize the Map locator • Driving Directions The Mobile Agent Oct. 29, 2:30 to 3:30 p.m. This class will provide you with resources and member benefits that help you become the Agent on the Go! • DocBox to go • Mobile iMapp • My MLS APP/ my-mls-app.com • Fusion Experience • RBI/StatsIQ Mobile • Real Estate apps – Flipboard, Hootsuite, Drop Box – and other apps. Apps may vary depending on user’s mobile device OCTOBER 2013

SAR On the Scene

SAR Smart Lunch Popular Event!

Visit SAR on Facebook at www.facebook.com/SarasotaRealtors

Photos by Jesse Sunday

The monthly SAR Affiliate Smart Lunch event drew another packed house on Sept. 11th, with those in attendance learning about “Helpful Tips Realtors® Should Know” - plus a great lunch from Sarasota Catering!

G 9

3 S m The Smart Lunch also featured Affiliate booths, including (above) Kim Midgett with First International Title.

OCTOBER 2013

Sarasota Realtor® Magazine

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WCR Fashion Show 2013 Highlights

See Many More Photos on Facebook

Mary Hellhake, WCR President

OCTOBER 2013

Sarasota Realtor速 Magazine

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Editor’s Note: This year, SAR’s focus is on “Raising the Bar” and improving the professionalism of our members. We will be providing monthly educational columns to promote the importance of NAR’s Code of Ethics to our members.

Case #2-5: Ascertainment and Disclosure of Pertinent Facts Mrs. A, a retired college professor, came to the office of Realtor® B, a cooperating broker, in search of a large house in which she could occupy a small apartment, using the remainder of the building to operate a residential club for graduate students. What she had in mind was a deluxe “rooming house” in which the tenants would have use of a parlor, dining room, kitchen, and laundry. She felt confident, from previous experience in the community, that she could obtain from 10 to 16 “roomers”, and indicated that she would be guided in her charges to the tenants by the amount of mortgage payments she would have to make. Most of the large houses on the market were inadequate. Finally, Realtor® B located a massive old mansion listed with Realtor® C that appealed to Buyer A. After repeated visits to the house and after discussing financing with a local lending institution, Buyer A said she was interested in the house if it could accommodate as many as 11 tenants. Realtor® B accompanied her for another inspection to check on this point. By planning double occupancy of the large bedrooms she found she could accommodate eight roomers. In addition, there were three small rooms upstairs that had been used for storage which Realtor® B suggested might make acceptable single rooms. Buyer A agreed, and the sale was made. Two months later, the buyer filed a complaint with the local Board, charging Realtor® B with failing to disclose pertinent facts. The complaint alleged that Realtor® B knew the buyer was taking on a substantial obligation with the expectation of housing 11 persons in the structure; that Realtor® B had suggested that three rooms might make acceptable single rooms; and that she had been subsequently advised by the building department that these rooms could not be used as dwelling rooms since the windows were too small to meet code requirements. She had been advised that it would cost $1,480 to replace the windows. She charged Realtor® B with negligence in not advising her of this deficiency. After reviewing the complaint, the Grievance Committee referred it for hearing before a Hearing Panel of the Professional Standards Committee. www.sarasotarealtors.com

At the hearing, Realtor® B acknowledged the facts set out in Buyer A’s complaint, but advised that the complaint did not state all of the relevant facts. With respect to the house in question, as with many other houses shown to Buyer A, he had made a special check at city hall as to zoning regulations to be sure that the kind of occupancy intended by the buyer would be lawful; that the buyer’s specifications were unusual and that in attempting to meet them, he had devoted an unusual amount of time and effort to help her realize her objective; and that he had acted in good faith and had not deliberately failed to disclose any pertinent fact but had, in fact, urged the buyer to consult with an engineer and to check with the zoning authorities prior to making an offer to ensure that the property could be utilized as a residential club. The Hearing Panel found that Realtor® B had satisfied his duty to the buyer by recommending that the advice of experts be sought out and considered by the buyer prior to making an offer to purchase. Realtor® B was found not in violation of Article 2.

Article 2

Realtors® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. Realtors® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real estate license, or to disclose facts which are confidential under the scope of agency or nonagency relationships as defined by state law.

Sarasota Realtor® Magazine

OCTOBER 2013

Ethics In Action

Realtor® not in violation of Article 2

HISTORIC From Page 6

“hostess” for the City of Sarasota, and helped introduce many newcomers to the area. That led her into the real estate business, at a time that real estate was dominated by men. Norma didn’t accept that. “I knew so many newcomers, so many business owners, I decided to get my real estate license,” she explained. “I was discouraged from doing so by many men, but I decided that instead of going for an agent license, I would get a broker’s license. And I passed!” Norma said the lessons she has learned, and taught many others, are simple yet profound. Success doesn’t come easy to anyone, but for those willing to work hard, persevere, battle against past prejudices and glass ceilings, and believe in themselves, success is virtually assured. “I proved to them, and to myself, that I could make money in real estate,” Norma explained. “Since then, I have been very active in WCR and the Sarasota board, serving on numerous committees. I was even proud to serve as the state WCR president in 1976.” After her start with E. J. Bacon Real Estate, Norma and her husband Jack started a real estate firm in 1955, and the firm joined SAR in 1959, making Norma the longest

active SAR member. Jack and Norma Real Estate is still in business. Norma isn’t alone in her longevity at SAR. We have many members who have reached Realtor® Emeritus status (40 years service) and beyond, including: Sylvia Groom (50 years); Reid Farrell (48) ; M Arline Hohlt (47); Harry Robbins (45); Paul Inkrott (43); Lucille Chapman (43); Juanita Bryan (42); Laura Roberts (42); Eli Miller (42); Rina Silverstein (42); Janice Carper (41); Ann Ross (41); Ann Mason (41); Thomas Holzer (41); Diane Otis Stirling (40); Erick Shumway (40); Sheryl Morris (40); Nevin Thomas (40); Ronald Stahl (40); and Lynn Robbins (40 this November). While these are not all of SAR’s longtime members, this list gives you some idea of how Sarasota attracts and retains some of the great people of real estate. Sarasota remains a vacation destination and tourism magnet. Many fall in love with the area after visiting and decide to put down roots here, thanks in some degree to members of SAR. The Sarasota Association of Realtors®, celebrating 90 years in Sarasota this year, is honored that so many local titans of real estate have decided to join us and keep the real estate profession strong. “What’s Past is Prologue” it is written in Shakespeare, and we hope the future is as bright and successful as our first nine decades serving the Sarasota real estate community.

SAR Past Presidents to be honored at event October 30th In SAR’s 90th anniversary year, we thought it was an appropriate time to honor those who have served as President of the association. To that end, a special SAR Presidents’ Breakfast has been slated for Wednesday, Oct. 30th from 9 to 11 a.m. in the SAR Auditorium. The event will be a way for SAR to thank those who served in this volunteer capacity, and were selected by their peers for their exceptional skills as leaders, motivators, organizers and managers of the top trade association in Sarasota. “We owe a tremendous debt of gratitude to these individuals, and we value their enormous contributions to our organization,” said Kathy Roberts, CEO of SAR since 2006. “SAR would not be in the enviable position we are in today if not for the personal sacrifices and selfless leadership our past presidents have provided. We are a large, diverse group of Realtors® and Affiliate members, and the task of leading such a group is awesome. I personally want to thank each of our past presidents, and we look forward to many new, exceptional leaders in the years ahead. We are standing on very tall shoulders.” Following the SAR Presidents’ Breakfast, the next major SAR meeting will be the Annual Installation Luncheon on Wednesday, Dec. 11th at 11:30 a.m. at Michael’s On East. www.sarasotarealtors.com

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1730 Independence Blvd. Sarasota, FL 34234 (941) 351-1515 / F (941) 351-8639 www.coastalprint.com / dean@coastalprint.com OCTOBER 2013

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

The Association is pleased to welcome new members!

Designated Realtors®

Bachtle, Edward: ERB Real Estate Group LLC Brantley, Pamela: Realty Masters of Florida Denapoli, Richard: Sunshine USA Properties LLC Gray, Robert: My Florida Homes Realty LLC Lexton, Warren: Warren S Lexton Lic R E Broker McIver, Chris: Florida Get A Ways Inc. Milicevic, Nelly: Nelly A. Milicevic Lic R.E. BK Reutter, Thomas: Thomas Reutter, Lic R E Broker Thompkins, Karen: Stillwater Realty Vance, Cheryll: Siesta Home & Condo Rental Inc.

New Members

Allen, Carolyn: Century 21 Beggins Enterprises Asfur, Richard: Century 21 Beggins Enterprises Balaz, Richard: Keller Williams On The Water Brown, Stacy: Keller Williams on the Water Castro, Pablo: Suncoast Premier Realty Serv Collins, Alicia: Rosebay International, Inc. Curch, Amira: Michael Saunders & Company Curnutt, Scott: Exit King Realty Doak, Adam: American Property Group Drews, Matthew: One Sarasota Realty Group Eagens, Deborah: Sarasota Real Estate Group Foy, Linda: Rosebay International, Inc. Gagg, Michael: Premier Sotheby’s Intl. Realty Geisel, Lindsey: Century 21 Beggins Enterprises Geren, Wiley: The Real Estate Store Giuffre, Christopher: Horizon Realty International Gray, Melinda: Coldwell Banker Res R E Hartzler, Donna: RE/MAX Alliance Group Hogue, Jay: Keller Williams Lakewood Ranch Howell, James: Coldwell Banker Res R E Huminski, Glenn: Coldwell Banker Res R E Johnson, Leslie: Coldwell Banker Res R E Kassulke, Peggy: Florida Worldwide King, Stephanie: Allison James Estates & Homes Leereveld, Karin: Beckmann Properties Lonson, Lawrence: Keller Williams On The Water Masters, John: Coldwell Banker Res R E Masters, Nancy: Coldwell Banker Res R E Mazzone, Brenda: Keller Williams On The Water Mueller, Megan: Keller Williams Lakewood Ranch Olson, Steven: Keller Williams Lakewood Ranch Payton-Turner, Sabrina: Blakeley & Associates Realty Perkowski, David: Michael Saunders & Company Piras, Carlo: Prime Properties of Florida Pizzoferrato, Glenda: Keller Williams On The Water Rankl, Raymond: Coldwell Banker Res R E Ricaud, Vincent: Investus Realty LLC Riggs, Angela: Keller Williams On The Water Riggs, Ricky: Keller Williams On The Water Roby, Sheila: Rosebay International, Inc. Romer, Eric: Rossi & Company Inc. Safonov, Nikolay: Keller Williams on the Water Schiewe, Jon: Keller Williams On The Water Shinkarow, Tracy: Bass & Associates, Inc.

OCTOBER 2013

Shope, Lisa: Michael Saunders & Company Smith, David: Michael Saunders & Company Soboleski, Stephen: Coldwell Banker Res R E Thierfelder, Robert: Coldwell Banker Res R E Toscano, Jeffrey: Shirley International Realty Tully, Katerina: Coldwell Banker Res R E Wasserman, Harvey: Andrews & Associates Realty Wilson, David: Wilson Puleo Real Estate

Now With ...

Ahmes, Elizabeth: Sandals Realty of Sarasota Atkins, Jeniffer: Century 21 Beggins Enterprises Booker, James “Tony”: Allison James Estates & Homes Carey, Lori: Premier Sotheby’s Intl. Realty Carothers, Kirk: Horizon Realty International Carver, Jennifer: Coldwell Banker Res R E Chamberlain, Janet: Coldwell Banker Res R E Channey, Christopher: Relax Realty Group Inc. Chicoine, Adam: RE/MAX Alliance Group Clary, Janice: Premier Sothebys Internat’l Engel, Mia: J Wood Realty Eshleman, Laurie: One Sarasota Realty Group Forrester, Alan: Medway Realty Gallatin, Michael: Genmark Property Group LLC Giannone, Ibett: Medway Realty Gillett, Janet: Sandals Realty of Sarasota Gonzalez, Rafael: One Sarasota Realty Group Green, Rita: Premier Sotheby’s Intl. Realty Haas, Keith: Key Realty Harris, Joseph: Keller Williams Lakewood Ranch Hartmann, Deborah: EXIT Creative Realty Hawkinberry, Kristin: Delver Couch Lic R.E. Broker Hayes, Ronald: Horizon Realty International Heitmann, Karin: Bay Breeze Intl. Realty Hirsch, Robin: Premier Sothebys Internat’l Iacobelli, Christopher: Premier Sothebys Internat’l Johnson, David: Sandals Realty of Sarasota Kiesewetter, Ken: RE/MAX Alliance Group LeFrock, Barbara: Sunset Realty McDonough, Meg: Michael Seery & Associates Inc. Middleton, Jacqueline: Sunset Realty Nunez, Kenia: Allison James Estates & Homes Paul, Robert: Allison James Estates & Homes Rabalais, Beverly: Sandals Realty of Sarasota Raiswell, Elea: Keller Williams Lakewood Ranch Robinson, Amy: RE/MAX Alliance Group Rosenfeld, Sacha: Key Realty Sax, Teri Ann: Century 21 Dockside Rlty Assoc Schmitt, Mary Alice: Allison James Estates & Homes Service, Kristi: DWELL Real Estate Shane, Gail: Investments In Sarasota Slater, Marina: Sunset Realty Stopher, Inez: RE/MAX Alliance Group Suponcic, Bozena: RE/MAX Alliance Group Untrieser, Werner: EXP Realty LLC Woodard, Julia: Medway Realty

Sarasota Realtor® Magazine

www.sarasotarealtors.com

New Affiliates

BankUnited N.A.

6511 Tamiami Trail Sarasota, FL 34231 Phone Number: 941-730-3517 Representative: Steve Svirsky Specialty: At Bank United we offer great individual service for your customers and provide many different residential loan packages. Jumbo loans, non-resident alien loans and loans for titles held in LLC’s. Email: ssvirsky@bankunited.com

Bridgeview Bank Mortgage

1408 N. Westshore Blvd #1000 Tampa, FL 33607 Phone Number: 941-439-6975 Representative: Russell Coleman Specialty: Full Service Mortgage Bank. Conforming FHA, VA, USDA. Licensed in 46 states. My NMLS# 992620 Email: r.coleman@mybbmc.com

Carl’s Inspection Services

P.O. Box 48511 Sarasota, FL 34230 Phone Number: 941-350-7020 Representative: David A Carl Specialty: Home Inspector, Wind Mitigation, 4-Point Inspections, Roof Inspection and other services. Email: dcarl@carlsinspectionservices.com

Cornerstone Lending Group

3800 S. Tamiami Trail Ste 208 Sarasota, FL 34239 Phone Number: 941-927-5551 Representative: Jason B Thurber Specialty: Cornerstone Lending Group is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. Licensed Florida/Nationally, Mortgage Brokerage Company, Residential Mortgage Funding. Email: jbt@thurberconsultinggroup.com

Drips N Puddles

3904 US 301 North Ellenton, FL 34222 Phone Number: 800-610-4570 Representative: David Edgar Kelley Specialty: Customer Designed Pools, Spas, Outdoor Kitchens, and Outdoor Living Spaces. Drips ‘n’ Puddles is a fully State Licensed company with a Swimming Pool Contractor’s Lic, (CPC1457144), a Commercial Pool Operators Lic. (CPO34270751) and a LP Gas Lic. (26996). We are uniformed and highly trained. We are San Juan Pool Dealer. Email: david@dripsnpuddles.com

Florida Shores Bank

1680 Fruitville Road Sarasota, FL 34236 Phone Number: 941-237-2044 Representative: Traci Hamill Specialty: Florida Shores Bank is a community bank in every sense of the word. We are a fast-growing local bank. We www.sarasotarealtors.com

take pride in extraordinary service. Our friendly, professional associates are dedicated to providing you with exceptional banking experiences. Our customer and the community we serve are our first priority. Local people making local decisions to provide you with the convenience and service you deserve. A Full Service Bank and Mortgage. Email: thamill@floridashoresbank.com

Jeff Polivchak Agency LLC

5040 Fruitville Road Sarasota, FL 34232 Phone Number: 941-379-3320 Representative: Jeff Polivchak Specialty: Jeff Polivchak Agency offers an outstanding line of life, health, flood, auto, home and business insurance options. So regardless of whether you need to insure your home, your automobile, your business or yourself and your family, Jeff Polivchak Agency has you covered. Established in 1991. Email: jeff@jeffpolivchakagency.com

Movement Mortgage

551 N. Cattlemen Rd #308 Sarasota, FL 34232 Phone Number: 941-960-7077 Representative: John Sorenson Specialty: When it comes to buying or refinancing a home, it’s nice to know that someone is watching out for you. Whether you need advice on the size of a loan, are investigating the best way to finance a project, or are seeking the lowest interest rates, Movement Mortgage is there for you every step of the way. Specializing in all residential mortgages. Email: john.sorenson@movementmortgage.com

S & S Salvage Recycling

3745 Desoto Road Sarasota, FL 34235 Phone Number: 941-351-8319 Representative: Scott T Hill Specialty: Metal salvaging: pickup of appliances, central heating systems, any metals from any address. Email: skotkolr@gmail.com

Sarasota Consultants, Inc

4408 85th Avenue Circle E Parrish, FL 34219 Phone Number: 941-799-4878 Representative: John C Johnson Specialty: Specializing in all aspects of home or business PCs, networks, and Real Estate Information Technology, we have the knowledge, experience, and satisfied client base to assert that we are your ideal choice for any and all computer needs, consulting and repair. Email: john@sarasotacnultants.com

Vision Home Inspections Inc.

2327 Sandrala Drive Sarasota, FL 34231 Phone Number: 941-650-4477 Representative: Glen Mack Specialty: Vision Home Inspections is a full service inspection company that can handle all your inspection needs for your Home or for Insurance. Email: visionhome@comcast.net

Sarasota Realtor® Magazine

OCTOBER 2013

E DUCATION & E VENTS C ALENDAR Tuesday

Wednesday

Thursday

Friday

Sept. 30

Oct. 1

21 8 a.m. CRS 201

8 a.m. MLS Express (SAR) 5 p.m. Broker Pre-License

9 a.m. CID Commercial Marketplace (SAR)

Nov. 1

5 p.m. Sales Associate Pre-License Class

9 a.m. MLS Basic 1 p.m. Compliance 101 3 p.m. Add & Edit Listings

12 p.m. SAR TechU

8 a.m. CID General Membership Meeting

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

8 a.m. CRS 201 5 p.m. Broker Pre-License

8 a.m. CID Golf Tournament (Founder’s Club) 1 p.m. FEMA Update Seminar

7:30 a.m. Toastmasters

9 a.m. iMapp 1 p.m. Advanced Map-Based Searches 2:30 p.m. The Mobile Agent 5 p.m. Broker Pre-License

7:30 a.m. Toastmasters 11 a.m. Fannie Mae Workshop 2 p.m. Fannie Mae Workshop

9 a.m. MLS Basic 10 a.m. CFPB (Consumer Financial Protection Bureau) Seminar 1 p.m. Compliance 101 3 p.m. Add & Edit Listings 5 p.m. Seasons Gala

8 a.m. MLS Express (UPCC) 5 p.m. Sales Associate Pre-License Class

8 a.m. MLS Express (SAR) 1 p.m. Photos with Barbacane

9 a.m. CID Commercial Marketplace (SAR)

8 a.m. MLS Express (SAR) 9 a.m. 9 a.m. Transaction Desk (TD) CID Commercial 11 a.m. TD Quick Start & Marketplace (MAR) Activities 1 p.m. TD Forms & Docs. 3:45 p.m. TD Authentisign 5 p.m. Broker Pre-License

1 p.m. 8 a.m. Distressed Properties Seminar MLS Express (SAR)

9 a.m. CID Commercial Marketplace (SAR)

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

My Florida Regional MLS Training

The My Florida Regional MLS training classes are offered at no cost to MLS participants. All classes are HANDS-ON in the SAR Tech Center . Please register for all MLS classes at the MFRMLS website: http://mfrmls.com. Click on “Register for Class” on the home page under the heading “Membership Director.”

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

Monday

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

OCTOBER 2013

6.0 5.0 4.0 3.0 2.0 1.0 0.0 Aug‐12

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1,200 1,000 800 600

Sarasota Association of Realtors® MLS

400 200 0 Aug‐12

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The Xtra Pages - Digital Version Only

Single Family Condo

Months of Inventory