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Requested delivery by: May 10, 2013

Greater Tampa

REALTOR News ®

The Voice for Real Estate in Hillsborough County

Official Publication of the Greater Tampa Association of REALTORS®

May 2013

FHFA streamlines mortgage modifications been the administrative challenge of document collection. Since the inception of the Making Home Affordable (MHA) program, FHFA, Fannie Mae and Freddie Mac have been measuring and monitoring borrower and servicer responsiveness

t borrower b it to assistance programs tto understand why many borrowers are not able to get a loan modification. Removing the administrative barriers associated with document collection and servicer evaluation should enable significantly more borrowers to access the available options for home retention. 2. When will the Streamlined Modification Initiative be available? The Streamlined Modification Initiative will begin July 1, 2013, and end Aug. 1, 2015. Fannie Mae and Freddie Mac are currently issuing guidance to their mortgage servicers to implement the Streamlined Modification Initiative. 3. What are the eligibility requirements? The loan must be owned or guaranteed by Fannie Mae or Freddie

Mac. Homeowners must be 90 days to 24 months delinquent, and have a first-lien mortgage that is at least 12 months old with a loan-to-value ratio equal to or greater than 80 percent. Loans that have been modified at least two times previously aren’t eligible. 4. How is the Streamlined Modification Initiative different from other Fannie Mae or Freddie Mac mortgage modification options? The key difference: Borrowers don’t need to document their hardship or financial situation. They can accept a Streamlined Modification Offer by simply making the trial period payments and agreeing to the terms of the modification. However, their modification terms could be more beneficial if they do document their financial situation and work with their servicer. 5. How does the Streamlined Modification Initiative differ from the Home Affordable Modification Program (HAMP)? Borrowers can take advantage of HAMP as soon as they run into financial troubles, but they must provide financial, income and hardship documentation to their servicer to be considered. The Streamlined Modification Initiative is only available for borrowers at least 90 days delinquent See, OPTION, Page 8

PRESORTED STANDARD US POSTAGE PAID TAMPA, FL Permit No. 2397

Effective July 1, mortgage servicers must offer eligible borrowers at least 90 days delinquent an easy way to lower their monthly payments and modify their mortgage without requiring financial or hardship documentation. The loans apply to those owned by Fannie Mae and Freddie Mac, according to the Federal Housing Finance Agency (FHFA) The new Streamlined Modification Initiative eliminates administrative barriers. It becomes effective July 1, 2013, and expires on Aug. 1, 2015. If eligible borrowers show a willingness and ability to pay by making three on-time trial payments, the mortgage will be permanently modified. However, documenting income and financial hardship could result in additional savings. “This new option gives delinquent borrowers another path to avoid foreclosure,” says FHFA Acting Director Edward J. DeMarco. “We will still encourage such borrowers to provide documentation to support other modification options that would likely result in additional borrower savings.” Frequently asked questions 1. Why is FHFA directing Fannie Mae and Freddie Mac to launch the Streamlined Modification Initiative? Throughout the financial crisis, one of the biggest challenges in assisting troubled homeowners has

In this issue... Association Briefs...............4 BOD Report.......................17 Calendar.............................10 Candid Camera...................18 CEO Update.........................2 Code of Ethics.....................6 Educational Opportunities.16 MLS Statistics...................15 MLS Training Schedule.....16 New Members......................9 President Message................3

Canadians play role in market rebound According to a report by BMO Financial Group, Florida’s housing market is on the rebound and Canadian Snowbirds are playing an important role in its recovery. “Beyond the obvious attraction of great weather and beautiful beaches, there are two factors that make Florida real estate an especially good value for Canadians,” says Jack Ablin, BMO’s chief investment officer. “The first is that … the median priced home in Florida is nearly half than that in Canada. At the same time, the Canadian dollar is trading nearly 10 percent above ‘fair’ value versus the U.S. dollar, arming Snowbird shoppers with extra buying power.” Report findings • There is growing demand for Florida real estate from foreign buyers, most notably Canadians, who have helped support property prices. • Canada is Florida’s No. 1 source of foreign tourists and the state’s

No. 1 foreign buyer of real estate. In 2010, Canadians accounted for 36 percent of all real estate purchases by foreigners. • More than 500,000 Canadians currently own property in Florida. • A BMO report from 2012 found 16 percent of Canadians would consider buying a home south of the border. • Of those considering property in the U.S. in 2012, 56 percent would do so to gain a vacation or secondary property; 44 percent cited affordability as a motivation; 29% viewed a U.S. home purchase as a long-term investment. Where in Florida are Canadians buying? The report outlines the key geographies in Florida where Canadians currently own real estate, based on a study by the National Association of REALTORS®. They include: • Sarasota-Bradenton-Venice (17 percent)

• Orlando-Kissimmee (13 percent) • Miami-Ft. Lauderdale-Palm Beach (13 percent) • Cape Coral-Ft. Myers (9 percent) • Tampa-St. Petersburg (9 percent) • Naples-Marco Island (9 percent) • Other areas (30 percent) © 2013 Florida REALTORS®

Don’t Miss the Bus!.................... Anand Patel....................page 17

Mark your Calendar...

General Membership Meeting on June 6th (see page 3)

Candid Camera............................ Terry Chandler................page 18


Page 2 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013

REALTORS® Care Foundation seeks contributions by Carol A. Austin, CEO PLEASE JOIN ME IN WELCOMING OUR NEW BUILDING TENANT North American Title is our new tenant in our building. They will be doing some renovations to their space before they move in. RULES AND REGULATIONS RELATING TO THE KEY HOLDER SERVICE Misuse of Supra Key: Any misuse of the Supra Key will be considered a violation of membership duties under GTAR Bylaws. All Key holders are strictly forbidden to lend their leys to any individuals for any reason except that a REALTOR®/Broker or Manager is allowed to loan a Supra key to a key holder associate in time of emergency for a non-functioning Supra Key. The associate must be an active current key holder. In the event that the key holder’s misuse has been noticed by the Association, the following actions will apply: Notice will be given to the key holder of the apparent misuse, with the opportunity for the user to appear before the Board of Directors

to show cause why his/her key privileges should not be suspended or terminated and a fine levied. The following penalties may be applied: Fine up to $500 and his/ her key service be turned off for a period of up to six months. Second offense: Fine up to $5,000 and his/her key services to be terminated for up to three years. THE REALTORS® CARE FOUNDATION OF GTAR, INC. Our funds are low and we are in need of donations to the foundation. The REALTORS® Care Foundation of GTAR, Inc. is a public charitable foundation that was formed with the mission to create and provide educational and housing programs and services to those who call Hillsborough County home. From fundraising to volunteering, the members of the Foundation remain active and diligent in their goal to give back to their communities.

The formation of REALTORS® Care Foundation of GTAR was a natural extension of what it means to be a REALTOR®. With the support of REALTORS® and donations from the public, the REALTORS® Care Foundation of GTAR makes a difference in the lives of families who need that little extra assistance to make their dream of home ownership come true, grants scholarships for those seeking to continue higher education opportunities in real estate, and provides funds for local community development along with providing disaster relief services to the community. Utilizing a four square approach, the REALTORS® Care Foundation of GTAR awards gifts in the form of one of our four squares of service; the Home Buyers grant program, the Disaster Relief program, the Scholarship program and the Community Development programs. Since the inception of this 501c 3 charity, the REALTORS® Care Foundation of GTAR has gifted of up to $5,000 towards down payment assistance, to purchase their first home, a reality that otherwise would have been un-

attainable for the recipients, and it is for this reason the REALTORS® Care Foundation of GTAR is continually making a difference in the neighborhoods in which it’s REALTORS® and residents live, work and serve. In 2009, we provided 2 grants for down payment assistance recipients. In 2010, we provided 2 more grants for down payment assistance. In 2011, we provided 13 grants for down payment assistance. In 2012, we provided 20 grants for down payment assistance. In 2013 so far, we provided 9 grants for down payment assistance. No more grants can be given, unless we are able to secure more funds. We have also provided assistance in our community as well as provided Disaster Relief. Can you help today by writing a check to RCF of GTAR, Inc. for a donation or go to www.RCFgtar.org and make a contribution there. Mail the check to RCF of GTAR at 2918 W. Kennedy Blvd, Tampa, FL 33609. This is a charitable contribution and can make a difference to someone that can use our help in achieving their dream of home ownership.

Official Publication of the Greater Tampa Association of REALTORS®

2918 W. Kennedy Blvd. • Tampa, Florida 33609 • (813) 879-7010 • Fax (813) 879-8977 2013 Officers 2013 Directors

Janet Swilley, 719-7068 President Tina Harris, 855-4982 President-elect Barbara Jordan, 962-0631 Vice President Andy Joe Scaglione, 968-4996 Treasurer Joe Perez, 264-7754 Secretary Sally McFolling, 842-8191 Immediate Past President

Matt Bailey, 908-8500 Mari Colgan, 654-0707 Marie Combs, 655-4000 Shannon Damschen, 866-580-6402 Darlene Davenport, 749-0875 Dan Hazy, 641-2500 Michele Herndon, 641-8300 Brad Monroe, 251-2002 Mark Paris, 546-7826 Sandra Streit, 343-8001 Laure Taylor, 264-7754 Pamela Terrell, 532-4207

Carol Austin, CAE, Chief Executive Officer e-mail: Carol@GTAR.net Brenda Rabbitt, Assistant Executive Officer e-mail: Brenda@GTAR.net Lisa Couture, Public Affairs Assistant e-mail: Lisa@GTAR.net Karen Cuervo, Advertising Manager e-mail: KarenCuervo@gmail.com

The Greater Tampa REALTOR® News is published monthly for members of the Greater Tampa Association of REALTORS® (GTAR) in the interest of informing, promoting, and improving the real estate industry. With the exception of articles and materials from other publications reprinted in Greater Tampa REALTOR® News, members and affiliate members of GTAR are hereby authorized to reproduce articles appearing in this newspaper, provided each such reproduction gives the following credit: Reprinted from Greater Tampa REALTOR® News, Greater Tampa Association of REALTORS®. REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. All editorial material must be submitted to the Association’s Public Affairs Department, editor@GTAR. net by the 15th of the month.. For advertising information, contact Karen Cuervo at (813) 244-3482. Advertising products or services herein shall not be construed to be a promotion, approval, or endorsement of those products or services by GTAR. All advertising is subject to the approval of the GTAR Board of Directors/Chief Executive Officer. Articles contained in this publication express the opinion of the author and not necessarily the opinion of GTAR.

Approved for 3-CE credits

Thurs., May 16, 2013 Check-in: 9:00 a.m. Program: 9:30 a.m. to 12:30 p.m. Greater Tampa Assoc. of REALTORS© Auditorium 2918 W. Kennedy Ave. Tampa, FL 33609

Increase Your Sales and Listings with a FHA 203K RENOVATION PROGRAM FHA 203K Renovation Loan Program is one of the fastest growing programs in the country, in alignment with current market conditions (bank-owned, short sale, and distressed properties). Learn the process. Workshop is State-approved for 3-hours of Continuing Education (CE) credits. x

Increase your business immediately using FHA 203k Renovation and Fannie Mae Home Style Renovation.

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The "FULL 203K" has no limit to the repairs and includes structural repairs, room additions, garages and complete renovation.

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Close “uninsurable, cash-only and bank-owned properties AS-IS.

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Eligibilities and requirements

FREE admission for GTARmembers Non-Members $10

GTAR members register at

www.GTAR.org Others email Rebecca@gtar.net

About the Instructor Andy Wood is a HUD-Certified 203k Instructor and one of the Top Originators of the 203k Renovation Loan Program. For nearly 20 years Andy has been in mortgage lending with 19 years experience in the 203k Program. Since 1992, Andy closed over 3,600 purchase transactions and 1,100 203k Renovation Loans. As a former 203K Manager Andy managed over 5,000 203K’s transactions.

Brought to you by GTAR’s Professional Development Committee.

Keep in touch with us on

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DBPR Course #: 0012479

Disclaimer: This program is for information purposes and not as an indication of corporate endorsement by the Greater Tampa Association of REALTORS (GTAR). Information presented is not warranted or guaranteed by GTAR.


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 3

Positive daily affirmations to refuel your success by Janet Swilley, President Most of us have hit the ground running this year. So this month, you may not have a lot of time to read an article, so I thought I would just share some positive thoughts of encouragement to refuel your success. Grow from your mistakes. The goal isn’t to be better than anyone else, but to be better than you were yesterday. You must have a hope and desire to change and succeed every day. Find the treasure in yourself and others. Life can change in a flash. Being positive will make you productive. You can’t change the past, let it go and create the future. Believe in yourself. The more you do it the more natural it becomes. Find value in yourself. Do not be manipulated by naysayers. Your positive energy must be greater than anyone else’s negativity. You haven’t failed until you stop trying. Life will always test you. There will always be setbacks. It’s like riding a bicycle. You have

to get back on the bike and master the ride. Overcome your own small civil war. Know that your luck and your situation are about to improve. Make a note to yourself that you can only drive your own bus. You can ask people to ride with you, but you can drive their bus. Think about the successes of your day. Feed the positive. Be grateful. Being grateful floods the body with positive endorphins and emotions. It’s physically impossible to be thankful and stressed at the same time. Fuel your life with positive energy if you want to be successful. Positive energy inspires others. If you want to change your situation, you have to change your thoughts. Build it in your mind, focus on

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seeing it and take action, success will come. Spend time thinking about what you do want instead of what you don’t want. Be a change agent. Vision without execution is hallucination. Future is what we are creating. Go where no path has been and

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leave a trail. Lose your fear of being wrong. Build new model that makes the old one obsolete. Be a winner, not a whiner. Winners don’t wait for chances, they take them. Your Friend in the Real Estate Business!

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Page 4 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013

HOUSING RECOVERY REAL SAY 71% OF LENDERS In its quarterly survey of U.S. bank risk professionals, FICO, a predictive analytics and decision management software company, found lenders more bullish on the housing recovery than at any point in three years. Almost three in four risk pros (71 percent) said home prices are “rising at a sustainable pace” in the context of mortgage lending risk. In addition, 39 percent expect mortgage delinquencies to decrease over the next six months, while another 45 percent expect delinquencies to remain flat. Only 16 percent expect an increase. FICO says the latest report has the most optimistic figures recorded in three years – since the survey was

launched. The survey, conducted for FICO by the Professional Risk Managers’ International Association (PRMIA), also found that a majority of bankers (59 percent) expect the supply of credit for residential mortgages to meet demand over the next six months, and a slightly larger majority (60 percent) expects the supply of credit for mortgage refinancing to meet demand. “The latest survey results – combined with data that indicates the real estate market is improving in many regions – paint a positive picture for a sector of the economy that has been slow to join the recovery,” says Dr. Andrew Jennings, chief analytics officer at FICO. “Mortgage lenders have been understandably guarded

over the past five years. The improvement in their sentiment should be welcome news, and I wouldn’t be surprised to see lenders cautiously expanding their mortgage and home equity lending businesses.” © 2013 Florida REALTORS® WE ARE THE REALTOR® PARTY: VOTE, ACT, INVEST The REALTOR® Party is an energized movement of real estate professionals fighting to keep the dream of homeownership alive for this country. Now, more than ever, it is critical for REALTORS® across America to come together to speak with one voice about the stability that the real estate market brings to our communities. From city hall to the state house to the U.S. Capitol, elected officials make decisions that have an impact on the bottom line of REALTORS® and their customers. The REALTOR® Action Center (http://www.realtoractioncenter.com/realtor-party/) is where you learn how Voting, Acting and Investing in the REALTORS® Political Action Center (RPAC) builds our political strength at every level of government. Through the support of REALTORS® like you, the REALTOR® Party represents your interests. In fact, the REALTOR® Party has been a leader in building the bipartisan relationships necessary on both sides of the aisle in jurisdictions in every state. We need to build on that success and your involvement now can help make that happen. From 2004 to 2012, RPAC raised

over $45 million dollars to support pro-REALTOR® Party candidates running for Congress. The amount of money RPAC spends to support candidates makes it one of the top three trade association PACs in the nation. REALTORS® are a key part of the American Dream: home ownership. But now, more than ever, REALTORS® are facing forces from many directions that threaten their profession. Property tax burdens, lack of available financing and difficulties in short sales transactions are only a few of the issues that somewhere, every day, REALTORS® confront when selling a home. RPAC allows REALTORS® to make sure their concerns about these issues are heard and understood by public officials. RPAC works…invest today by visiting http://pac.floridarealtors.org/. FLORIDA REALTORS® FORM CHANGE: ICA-6 REPLACES ICA-5X The updated Independent Contractor Agreement between Broker and Associate has only one substantive change, however, in paragraph 6: “for __ months” was deleted. WANT TO SERVE ON A FLORIDA REALTORS® COMMITTEE? Time to sign up for 2014: Committee applications to serve on a 2014 Florida REALTORS® committee are available on floridarealtors.org (login required). The deadline for submitting 2014 Committee Service Request/Recommendations is June 14, 2013.

LET GTAR MAKE YOUR DAY Concealed Weapon Class Sponsored by Greater Tampa Association of REALTORS® RPAC Committee

FRIDAY, MAY 31, 2013 ± 9 a.m. to 3 p.m. **Limited to 30 people** SR 52 & Suncoast Parkway

x

x x x

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Linda Gangemi is an NRA Certified Pistol Instructor. She will provide a comprehensive classroom and live firing range instruction course, pistols, targets, eye/ear gear protection and water. Students may bring their own firearm and ammunition. Students without a firearm, will shoot a small caliber semiautomatic .22 pistol and must pay $4 (cash to be paid at the range) for a box (limit 1) of ammunition. Upon completion, students will be skilled enough to safely handle and discharge a pistol. Okay if students have their own guns and ammo they prefer to shoot. Dress for warm outdoors. Firing range is beautifully set on 750 acres of gorgeous private property approximately 1/4 mi west of Suncoast Parkway on SR 52 in Pasco County. (15212 SR 52, Land R¶ Lakes, FL, 34638) There are restroom facilities, and fans to keep the firing line as cool as possible. REALTORS® put themselves in a vulnerable situation every time they meet a prospect at a home. Be prepared. Know how to protect yourself. Florida law allows you to exercise your Second Amendment Rights and carry a concealed weapon in your purse or on your person, with the proper permit. Upon successful course completion each student will receive the necessary certificate and paperwork to file for a ³&RQFHDOHG Weapons PerPLW´. The State of Florida charges $112 for this permit.

PAYMENT confirms registration (NO REFUNDS) Make $50 check payable to Linda Gangemi (that portion is tax deductible) and $50 check payable to RPAC Mail BOTH checks along with the form below to: GTAR, Attn: Brenda Rabbitt, 2918 W Kennedy Blvd, Tampa, FL 33609 Name

Email

Phone

Checks enclosed Questions? Email Brenda@GTAR.net Contributions are not deductible for income tax purposes. Contributions to RPAC are voluntary and are used for political purposes. You may refuse to contribute without reprisal and the National Association of REALTORS® or any of its state associations or local boards will not favor or disfavor any member because of the amount contributed. 70% of each contribution is used by your state PAC to support state and local political candidates. Until your state PAC reaches its RPAC goal 30% is sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a; after the state PAC reaches its RPAC goal it may elect to retain your entire contribution for use in supporting state and local candidates. Only U.S. Citizens or permanent residents may invest in RPAC.

Florida Association of REALTORS® 1st Year Mari Colgan Shannon Damschen Dan Hazy Michele Herndon Mark Paris Joe J. Perez Jack Rodriguez Sandra R. (Sandy) Streit Laura Taylor 2nd Year Janet Swilley 3rd Year Tom Scaglione 4th Year Norma Cohen Carlos Fuentes Donald Kuder Pamela P. Terrell 5th Year Brad Monroe 6th Year Connie Johnson 7th Year Barbara S. Jordan 8h Year Linda Calebro Kuder 9th Year Vernon E. Taylor 17th Year Susanna Madden Kathleen L. Razzano 19th Year Mary T. McCall 20th Year Tina Harris 24th Year Jo Easton

Greater Tampa Association of REALTORS ® Linda Calebro Kuder Norma Cohen Mary Colgan Shannon Damshen Jo Easton Carlos A. Fuentes Tina Harris Dan Hazy Michele Herndon Connie Johnson Barbara S. Jordan Donald Kuder Susanna Madden Mary T. McCall Brad Monroe Mark Paris Joe J. Perez Kathleen L. Razzano Jack Rodriguez Tom Scaglione Sandra R. (Sandy) Streit Janet Swilley Laura Taylor Vernon Taylor Pamela P. Terrell


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 5


Page 6 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013

Code of Ethics: Article 10 REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation. (Amended 1/11) REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation. (Amended 1/11) Case #10-1: Equal Professional Services by the REALTOR® (Reaffirmed May, 1988.) A minority couple called on REALTOR® A and expressed interest in purchasing a home in the $130,000 to $145,000 price range with at least three bedrooms, a large lot, and located in the Cedar Ridge area of town. Being familiar with Cedar Ridge through handling of numerous listings in that area, REALTOR® A explained that houses in Cedar Ridge generally sold in the price range from $180,000 to $220,000. The couple thereafter indicated that they would then like to see “what was available” within their economic means. After further discussion with the couple concerning their financial circumstances and the maximum price range they could afford, REALTOR® A concluded that the couple could not afford more than $137,500 as an absolute maximum.

The couple was then shown homes which met the criteria they had described to REALTOR® A. However, although REALTOR® A discussed with the couple the amenities and assets of each of the properties shown to them, they expressed no interest in any of the properties shown. A few days later, the minority couple filed charges with the Secretary of the Board, charging REALTOR® A with a violation of Article 10 of the Code Ethics, alleging that REALTOR® A had violated the Article by an alleged act of racial steering in his service to the minority couple. The Secretary promptly referred the complaint to the Grievance Committee, which conducted a preliminary review and referred the complaint back to the Secretary, instructing that a hearing be arranged before a Hearing Panel of the Professional Standards Committee. REALTOR® A was duly noticed and provided with an opportunity to make his response to the complaint. At the hearing, the minority couple elaborated upon their charge of the alleged racial steering by REALTOR® A, telling the Hearing Panel that they had specifically expressed an interest in purchasing a home in the Cedar Ridge area, but were not shown any homes in Cedar Ridge. REALTOR® A responded by producing written records documenting the housing preference of the couple as they had described it to him, including price range and demonstrating that he had shown them a number of listings that met the requirements as expressed by

them, although admittedly none of the properties shown were located in Cedar Ridge. However, REALTOR® A explained that he had advised the minority couple that there were no listings available in Cedar Ridge falling within the price range expressed by them. Further, REALTOR® A produced listing and sales information concerning numerous homes in Cedar Ridge which confirmed an average sales price of $180,000 to $220,000. REALTOR® A told the Hearing Panel that he had, in fact, offered equal professional service to the minority couple by showing them properties which met the criteria they had presented to him. He pointed out to the Hearing Panel that the couple was charging him with “racial steering” which presumably they were relating to the denial of equal professional service. REALTOR® A stated, “If there were listings in Cedar Ridge in the $130,000 to $145,000 price range with at least three bedrooms and a large lot, and I had refused to show them such listings, then they might have a point in their charge. But there are no such listings available now, nor have there been at any time since the original development of the Cedar Ridge area five years ago. I could not show them what did not and does not exist.” The Hearing Panel concluded that REALTOR® A had properly met his obligation to offer equal professional service and was not in violation of Article 10. Case #10-2: Denial of Equal Professional Service (Revised May, 1988. Revised November, 2001.) On a Saturday morning, REAL-

TOR-Associate® B, a salesperson affiliated with REALTOR® A, answered a call from Prospect C, a recent college graduate who was moving into the city to take his first teaching job at Northwest High School. Prospect C was married, had two young children, and was a veteran. After qualifying Prospect C for a three-bedroom home in the $80,000 range, REALTOR-Associate® B described available properties near Northwest High School and set up appointments to show houses to Prospect C. That afternoon, REALTOR-Associate® B showed Prospect C and his wife three houses in neighborhoods near the high school. On Monday, at a faculty meeting, Prospect C met Prospect D, who was also moving into the city to take a teaching position at the same high school and who was also in the market for a home. Prospect D was married with two young children and was also a veteran. Prospect C told Prospect D of REALTOR-Associate® B’s knowledge of the market and VA financing and how helpful he had been. Prospect D called REALTOR® A’s office that afternoon and asked for REALTORAssociate® B. REALTOR-Associate® B met Prospect D and determined Prospect D was also qualified for the $80,000 range. Prospect D told REALTORAssociate® B that he was also a new teacher at Northwest High School and had been referred by Prospect C. Prospect D was black. REALTOR-Associate® B showed See, CODE, Page 8


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 7


Page 8 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013

New option gives delinquent borrowers another path continued from page 1 and it doesn’t require documentation. HAMP allows servicers to evaluate the borrower for modification terms based on an affordable payment that is 31 percent of the borrower’s gross monthly income, and could provide a more affordable monthly payment than the Streamlined Modification Initiative. In addition, borrowers may be eligible to receive financial incentive payments under HAMP. 6. Will all delinquent borrowers with Fannie Mae or Freddie Mac mortgages receive a Streamlined Modification Trial Period Plan after July 1 if 90+ days delinquent? As of July 1, 2013, servicers must identify eligible borrowers who are 90 days to 24 months delinquent and send them an offer letter that states the terms of the modification, including the monthly payment required for a Streamlined Modification. These eligible borrowers can accept a Streamlined Modification Trial Period Plan by sending the specified payment to the loan servicer. 7. How long will the trial period last? Similar to the Standard Modification, the Streamlined Modification Trial Period Plan will last three months. If the borrower makes ontime payments during the trial period and meets necessary criteria, the borrower will be asked to sign an agreement making the terms of the mortgage modification permanent. 8. What happens if a borrower misses a payment during the Streamlined Modification Trial Period

Plan? If the borrower misses a payment, he/she won’t be eligible for a permanent Streamlined Modification. However, the borrower may submit a Borrower Response Package to the servicer and be evaluated for other alternatives to foreclosure, including other modification options. 9. Should struggling borrowers wait until the Streamlined Modification takes effect on July 1, 2013 to contact their servicer when they miss a payment? Borrowers struggling to make payments should call their servicer as early as possible to be evaluated for the most appropriate alternative to foreclosure. A call to the loan servicer doesn’t exclude a borrower from receiving the Streamlined Modification solicitation. 10. When should I expect a letter from my servicer? Servicers will be required to begin

Prospect D houses in several neighborhoods undergoing racial transition but did not show Prospect D homes in neighborhoods near the high school. Prospect D asked about houses closer to Northwest High School. REALTOR-Associate® B replied that he had no knowledge of any homes in that area for which Prospect D could qualify. The next day, Prospect D, while visiting Prospect C, related his problems in finding a home near the

Land 101 The Fundamentals of Land Brokerage This 2-day REALTORS® Land Institute (RLI) Land University course introduces participants to the land brokerage specialty. The course addresses a broad range of topics that include:

Instructor: Ben Crosby, ALC, CCIM

Course Administrator: Greater Tampa Association of

®

REALTORS

The basics of land brokerage Tax deferred 1031 exchanges Determining market value Property rights and restrictions Subdivision and assemblage Environmental and regulatory issues

May 22-23, 2013

FREE MEMBERSHIP IN RLI Florida for remainder of year once you become a member of RLI National Students who successfully complete Land 101, who have never been members of RLI, and are members of the National Association of REALTORS® or who join NAR through RLI with an annual payment of $75, are eligible to receive a FREE membership for the remainder of the year for the Florida RLI chapter.

8:00 AM – 5:00 PM Location: Coldwell Banker Commercial Saunders Real Estate, 114 N. Tennessee Ave., Lakeland, FL $325 if registered by March 31st —$375 after Registration Deadline— May 15th

Questions? E-mail RLI@gtar.net

• •

hardship and often reinstate their mortgage to current status. Borrowers who are current or less than 90 days delinquent and have a permanent hardship should contact their servicer to submit a Borrower Response Package so they can be evaluated for a mortgage modification or other alternative to foreclosure. 13. Does the Streamlined Modification cover borrowers with delinquent Freddie Mac or Fannie Mae mortgages secured by second homes and/or investment properties? Yes. Delinquent borrowers with Fannie Mae or Freddie Mac mortgages secured by second homes or investment properties are eligible to participate in the Streamlined Modification Initiative and may receive trial period plan offers, provided they also meet other eligibility criteria. Find more information on the FHFA website, http://www.fhfa.gov. © 2013 Florida REALTORS®

CODE, from page 6

For more information about the REALTORS® Land Institute, please call 800-441-5263 or email RLI@realtors.org

evaluating borrowers for a solicitation on July 1, 2013. Depending on the volume of delinquent borrowers and servicer capacity and systems, letters should be sent within a timely period. 11. What if I stop paying my mortgage for three months so I can get the modification? Fannie Mae and Freddie Mac have proprietary screening measures to prevent strategic defaulters from taking advantage of a Streamlined Modification. Additionally, only borrowers with loans more than 12 months old with a mark-to market loan-tovalue ratio greater than 80 percent and not had two or more previous loan modifications will be solicited for participation. 12. Why limit eligibility to borrowers who have missed three or more monthly payments? Many borrowers who miss one or two payments have a temporary

Land 101 counts as credit in the following programs: A required course for the prestigious and highly coveted ALC® Designation. An elective for the ABR® Designation. 11 hours specialty CE credit (FL real estate licenses only)

Reserve your space by returning the registration form with payment (payable to RLI Florida) to: Greater Tampa Association of REALTORS® • 2918 W. Kennedy Blvd. • Tampa, FL 33609-3195 Fax: 813-879-8977 Check enclosed, payable to RLI Florida Send PayPal Invoice (Credit Card Payments) Name: ______________________________________ Company Name: __________________________________________ Address: ______________________________________________________________________________________________ City, State, Zip: ________________________________________________________________________________________

high school and learned that REALTOR-Associate® B had shown Prospect C several homes near the high school. Prospect D filed a complaint with the Board of REALTORS® claiming that REALTOR-Associate® B had discriminated against him and his family by not offering equal professional services. The complaint was reviewed by the Grievance Committee. REALTOR-Associate® B was charged with an alleged violation of Article 10, and the complaint was referred to a Hear-

ing Panel of the Board’s Professional Standards Committee for hearing. At the hearing, REALTOR-Associate® B admitted that he did not use the same efforts to show Prospect D properties in neighborhoods near the high school as he did with Prospect C because he felt Prospect D and his family would feel more comfortable living in a racially integrated neighborhood. The Hearing Panel found REALTOR-Associate® B in violation of Article 10 of the Code of Ethics.

BROKER/MANAGER PROGRAM HILLSBOROUGH COUNTY PROPERTY APPRAISER PRESENTS ….

Take the Mystery Out of Property Taxes Bob “Coach” Henriquez Brokers and Managers are invited for a complimentary Property Appraiser breakfast to learn of specific topics which address the Hillsborough County needs of real estate brokers/managers. In this session, Property Appraiser of Hillsborough County, Bob “Coach” Henriquez, will provide you information on the qualifications for Homestead Exemption, when and where to file, and guide you through the process of petitioning for a re-assessment.

Wednesday, May 8, 2013 Time: Breakfast: 8:30 AM—9:15 AM Program: 9:30 AM—11:30 AM Place: GTAR Auditorium 2918 W. Kennedy Blvd. Tampa 33609 Cost: Free Admission AND Complimentary Breakfast

FR E

Phone: ___________________________________________ Cell Phone: _________________________________________ E-mail: _______________________________________________________________________________________________ NAR ID: ______________________________________ License # and State: ____________________________________ Cancellations: No charge if done 60-days prior to the class; $50 if done 30-days prior; $100 if done less than 48 hours. No-Show: No refunds or credits will be given to registrants who do not cancel or show up for the course.

GTAR-MEMBERS REGISTER ONLINE: www.GTAR.org Others, e-mail Rebecca@gtar.net Brought to you by GTAR’s Professional Development Committee.

EA

DM

I

FreSSIO eB N rea k fa st


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 9

Winners for TBBA 2013 Parade of Homes announced Winners of the Tampa Bay Builders Association’s (TBBA) 2013 Parade of Homes™ were announced during an awards ceremony in Tampa last month. Featuring 115 model homes by 33 home builders in more than 75 Tampa Bay area communities, the 2013 Tampa Bay Parade of Homes™ ran March 2-17 in Hillsborough, Pasco, Pinellas, Polk and Hernando counties. The largest parade in years, this year’s new-home showcase boasted a 30 percent increase in entries from last year, and a whopping 125 percent rise from the market bottom in 2009. Moreover, visitor traffic was up 38 percent from 2012. Judging was by a panel of independent home-building experts who considers site plan, curb appeal, design, materials, outdoor living spaces, architectural detailing and workman-ship. Grand and merit awards were given to homes in the following price ranges: Homes priced less than $151,000: Grand Award – Florida Home Partnership, The Cypress at Alexander Woods townhomes. Merit Award – DR Horton, the Dogwood at Cross CreekSummertree. Homes priced $151,000-$200,000:

Grand Award – DR Horton, the Santa Cruz in Kinglet Ridge at FishHawk Ranch. Merit Award – Beazer Homes, the Barrington at Gulf Winds. Homes priced $201,000-$225,000: Grand Award – Lennar, the Hemingway at Brandon Pointe Townhomes. Merit Award – William Ryan Homes, the Sweetwater at Deerfield Crossing. Homes priced $226,000-$250,000: Grand Award – Standard Pacific Homes, the Brookland in Glenbrook at WaterGrass. Merit Award – DR Horton, the Santa Cruz at Schooner Cove. Homes priced $251,000-$275,000: Grand Award – DR Horton, the Orchid in Fairlawn at Panther Trace. Merit Award – Taylor Morrison, the Daphene II in Baywood at Oak Creek. Homes priced $276,000-$300,000: Grand Award – Minto Communities, the Solana in Renaissance at Sun City Center. Merit Award – Beazer Homes, the Captiva at Belmont. Homes priced $301,000-$350,000: Grand Award –M/I Homes, the Newport II at The Estuary. Merit Award – GreenPointe Homes, the Pinemore at Southern Hills Plantation Club. Homes priced $351,000-$375,000: Grand Award – M/I Homes, the Corina

II at The Estuary. Merit Award – David Weekley Homes, the Kinglet in Bayberry Glen at FishHawk Ranch. Homes priced $376,000-$400,000: Grand Award – Homes by WestBay, the Capri at Forest Glen. Merit Award – Ashton Woods Homes, the Hudson at The landings in South Tampa. Homes priced $401,000-$450,000: Grand Award – Taylor Morrison, the Hemingway at Channing Park. Merit Award – Ashton Woods Homes, the Sampras in Starling at FishHawk Ranch. Homes priced $451,000-$500,000: Grand Award – M/I Homes, the Grandshore II in Denmore Village at Panther Trace. Merit Award – Homes by WestBay, the Calusa at Lakeshore Ranch. Homes priced $501,000-$600,000: Grand Award – Standard Pacific Homes, the Hastings in Windsor at Meadow Pointe. Merit Award – Mobley Homes, the Nantucket V in Bassett Creek at K-Bar Ranch. Homes priced $601,000– $750,000: Grand Award – Sunrise Homes, the Summit at Arbor Reserve. Merit Award –Homes by WestBay, the Gasparilla in Starling at FishHawk Ranch. Homes priced more than $800,000: Grand Award – Sabal Homes of Florida, the Tradewinds 4 in Chapman Crossing at FishHawk Ranch. Merit Award – Arthur Rutenberg Homes, the Gulfport 1093 in Chapman Crossing at FishHawk Ranch. Also earning honors were members

of TBBA’s Remodelers Council who entered remodeling projects that were judged in two categories. Those winners are : Best Complete Kitchen Renovation: Greaves Construction Best Entire House Remodel: Florida Renovators The new Best In Class Award bestowed honors on builder models in five judging categories. Best Curb Appeal went to Sunrise Homes, the Summit at Arbor Reserves; Best Floor Plan to Taylor Morrison, the Hemingway at Channing Park; Best Kitchen to Homes by WestBay, the Capri at Forest Glen; Best Master Suite to Homes by WestBay, the Capri at Forest Glen, and Best Architectural Detailing to Homes by WestBay, the Capri at Forest Glen. And the model home accumulating the most points in those five categories earned the Parade of Homes’ top honor ... the Grand Diamond Award. That went to Homes By WestBay’s Capri at Forest Glen. The Parade of Homes was presented by the TBBA’s Sales and Marketing Council (SMC), which boasts membership of more than 200 sales and marketing professionals from the Tampa Bay area. Through networking, speakers and a variety of educational programs for sales professionals, the SMC promotes better and more efficient sales practices so consumers can enjoy a more positive and informed home-buying experience.

GTAR would like to thank the following sponsors of our April New Member Orientation

Artisan Insurance Brightway Insurance Clear America Title FHA203K.org First American Title HouseMaster Home Inspections TD Bank The Tampa Tribune

New Affiliates/Business Partners Michael Boutzoukas

Margaret Iuculano

Bay Area Real Estate Council

Regus

Karen Calhoun

Shelly Manneback

VanDyk Mortgage

North American Title Company

Matthew Carver

Mimi Patrick

Pilot Bank

Star Title Partners of Tampa

Evelyn Finnegan

Eric Quirk

Wells Fargo Home

AmeriSpec Home Inspections

Jesse Green

Adria Reed

Evergreen Contracting, LLC

Nations Title Agency of Florida

Shelly Grover

Zachary Tapp

Verizon

FEMBI Mortgage Bank

Rob Wren Pilot Bank


Page 10 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013

May 2013 Mon

Tue

Wed 1

Thu 2

Fri 3 Governmental Affairs Committee — 9:30 a.m. REALTORS® PAC Committee — 10:45 a.m. Affiliates/Business Partners Golf Tournament

6

7

8

Broker/Manager Program— 9:00 a.m. (see pg 8)

Fusion Training— (see pg 16)

Appraisal Task Force— 9:30 a.m.

9

10

REALTOR®/Attorney Committee— 12:30 p.m.

Affiliates Committee—10:00 a.m. Property Management Task Force— 10:00 a.m.

13 Technology Committee — 10:00 a.m.

14 MLS Basic —

15

Legal Lounge—9:30 a.m.

21

22

28

CE Express: 203K FHA— 8:00 a.m. (see pg 2)

17 Professional Development Committee — 10:00 a.m.

Fair Housing Committee — 11:00 a.m.

Reality Real Estate: Panel of Experts—10:00 a.m. (see pg 17)

27

16

Affordable Housing Committee—9:30 a.m.

Young Professionals Network — 10:00 a.m. Tech User Group—5:30 p.m.

20

Business Portraits by Anthony— 1:00 p.m.

(see pg 16)

International Council— 3:00 p.m.

New Member Orientation—8:45 a.m.

Communications Committee — 9:30 a.m.

23

24

Affordable Housing Solutions—9:30 a.m. (see pg 12)

Fusion Training— (see pg 16)

REALTOR®/Builder Expo Committee—11:00 a.m.

Grievance Committee — 9:30 a.m.

29

30

31

Fusion Training— (see pg 16)

GTAR Closed

June 2013 Mon

3

Tue

4

SBA Commercial Loan— 1:00 p.m. (see pg 12)

Wed

5

Thu

6

General Membership Meeting—9:30 a.m. (see pg 3)

Fri

7

Governmental Affairs Committee — 9:30 a.m. REALTORS® PAC Committee — 10:45 a.m.

10

Technology Committee — 10:00 a.m.

International Council— 3:00 p.m.

11 Young Professionals NetResource Center Committee — 3:00 p.m. Tech User Group—5:30 p.m.

17

Board of Directors Meeting — 9:30 a.m.

12 Lunch n’ Learn— 9:00 a.m.

18

13

(see pg 19)

work—10:00 a.m.

Legal Lounge—9:30 a.m.

REALTOR®/Attorney Committee— 12:30 p.m.

Affiliates Committee—10:00 a.m. Fair Housing Comm. —11:00 a.m. Finance Committee—1:30 p.m.

19

Communications Committee — 9:30 a.m.

20 Grievance Committee —

14

Professional Development Committee — 10:00 a.m.

21

9:30 a.m. REALTOR®/Builder Expo— (see pg 13)

24

25

26 RCA Panel of Experts “Timeline for Commercial Transactions” 9:30 a.m. (see pg 12)

27

New Member Orientation—8:45 a.m.

28


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 11

Wow! MORE

Our jaw-dropping community and eye-popping homes will make you say WOW! Stop by today and be wow-ed by WaterGrass

+RPHVIURPWKH$¶VWRWKH$¶V !RTHUR2UTENBERG(OMESs"AKERlELD,UXURY(OMESs(OMESBY7EST"AY 2YLAND(OMESs3TANDARD0ACIlC(OMES ‡&52:1:$7(5*5$66&20 ,WRH[LW 65 (DVWPLOHV/HIWRQ&XUOH\5RDG :DWHUJUDVVLVDKHDGRQULJKW

$UWKXU5XWHQEHUJ+RPHV  _%DNHU¿HOG/X[XU\+RPHV  _+RPHVE\:HVW%D\  _5\ODQG+RPHV  _6WDQGDUG3DFL¿F+RPHV  RU   +RPHVZLWKLQ:DWHU*UDVVDUHFRQVWUXFWHGDQGVROGE\EXLOGHUVQRWDI¿OLDWHGZLWK&URZQ&RPPXQLW\'HYHORSPHQW)XWXUHGHYHORSPHQWRI:DWHU*UDVVPD\RUPD\QRWRFFXUDVVKRZQRQLOOXVWUDWLRQVGHSLFWLRQVRUPDSV $UWKXU5XWHQEHUJ+RPHV&*&%DNHU¿HOG/X[XU\+RPHV&*&+RPHVE\:HVW%D\&5&5\ODQG+RPHV&%&6WDQGDUG3DFL¿F+RPHV&5&

WG160


Page 12 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013

McCarty encourages flood insurance purchase now Florida Insurance Commissioner Kevin McCarty encourages Floridians to prepare for the upcoming 2013 hurricane season by purchasing flood insurance now. Most flood insurance policies – with a few exceptions – don’t take effect for 30 days. The National Flood Insurance Program (NFIP) administers the coverage rather than local insurers, and

private policies – if available – generally cost significantly more. Homeowners’ policies generally cover water damage from wind and storms, but they don’t cover rising water in a flood, even though it’s the nation’s most common natural disaster. McCarty cites another reason to buy flood insurance sooner rather than later: NFIP policy rates are set

to rise on Oct. 1, 2013. McCarty calls the increase “significant.” “Florida’s risk for severe weather is well-known and, even though a hurricane has not impacted our state in recent years, several tropical storms have caused significant flood damage to many Floridians,” says McCarty. “Regardless of the storm type, I strongly urge Floridians to prepare now and purchase flood insurance by May 1, as a typical flood insurance policy takes 30 days to become effective. This will ensure you are covered on June 1, the first day of hurricane season.” Florida consumers can purchase Q: If I purchase a residential ing a property at a foreclosure sale, flood insurance from NFIP for up property at a foreclosure sale, am I you should do your research and find to $250,000 for property damage liable for the outstanding HOA fees? out the amount of outstanding HOA and $100,000 for personal contents. A: Generally speaking, yes. You, fees and adjust your bid accordingly. Excess flood insurance can be purQ: Does a condominium associa- chased for homes valued at more as the buyer, are jointly and severally liable for the outstanding HOA tion have the authority to prohibit than $250,000. NFIP coverage is also available for commercial structures fees with the former owner, who was tenants or certain types of tenants? A: Yes. Florida law supports a at $500,000 for building coverage foreclosed upon. In the event there are excess proceeds from the foreclo- condominium association’s ability to and $500,000 for contents coverage. sure sale, meaning there were funds control whether tenants can reside in remaining after the satisfaction of the their community as well as set out cermortgage(s), such proceeds will be tain restrictions on tenants. However, used to satisfy the outstanding HOA such policies must be reasonable. This fees. However, with the current state is generally interpreted to mean that of the real estate market, it is unlikely there must be a hardship procedure or there will be sufficient proceeds from exception to the policy for unit ownthe foreclosure sale to satisfy this ers who would experience an undue obligation. The Florida Statutes pro- burden if required to comply. Prior to vide for a cap on the amount of HOA purchasing a condominium unit, it is fees that the HOA can recover, which important to review the association’s is the lesser of one years’ fees or 1% policy on leasing your unit as well as of the original mortgage balance, the exceptions that exist to the policy. Please submit your legal queshowever this cap only applies where the mortgagee, i.e. the bank, pur- tions to the Law Offices of Mercedes chases the property at the foreclosure Gonzalez Hale, P.A. at cmessina@ sale. If you are interested in purchas- mghlaw.com.

 GreaterTampaAssoc. ofREALTORS®

CommercialRealEstate

Auditorium 2918W.KennedyBlvd. Tampa,FL33609     Registeronlineat www.GTAR.org 813Ǧ879Ǧ7010

Check with an insurance agent for more information about access to the NFIP. In July 2012, the U.S. Congress passed the Flood Insurance Reform Act of 2012 extending the NFIP through Sept. 30, 2017. Key provisions of this legislation will be implemented over time and include raising premium rates to reflect the actual flood risk of the program, phasing out subsidies on properties with repetitive losses, allowing coverage availability for multifamily properties and minimum deductibles for flood claims, etc. To learn more, visit the new Hurricane Resource website page hosted by the Florida Insurance Commission, http://www.floir.com/Office/Hu rricaneSeason/2013hurricaneresourc epage.aspx. For more info on the National Flood Insurance Program, visit the federal website FloodSmart.gov. © 2013 Florida REALTORS®

Timingiseverything… …TimeisrightforCommercialRealEstate…

Sharpen your sales skills with these cutting-edge trainings by top commercial experts. June4

SBALoans

1p.m.—3p.m.

June26

RCAPanelofExperts:Timeline forCommercialTransactions

9:30a.m.—noon

June26

CommercialPitch

1p.m.—2p.m.

TBD

TheSophisticatedCommercial  REALTOR:AgencyLaw&Pitfalls ofKnowingTooMuch

TBD

UpdateonRegulatoryAgencies,  Compliance&SettlementForm

Aug21Ǧ22 HowtoSuccessfullyList&Sell 9a.m.—5p.m. CommercialRealEstate bothdays Sept25

RCAPanelofExperts: 9:30a.m.—noon DueDiligence&RiskManagement

Sept25

CommercialPitch

1p.m.—2p.m.

January29 RCAPanelofExperts:Listand MarketCommercialRealEstate

9:30a.m.—noon

BroughttoyoubyGTAR’sREALTORS®CommercialAlliance(RCA)withfundingfrom theNationalAssociationofREALTORS®CommercialInnovationGrantProgram.


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 13

Most REALTORS® qualify and can make BP claims by Kevin McLean, Esq. “You qualify!” To REALTORS® who have been active since 2009, that can probably be said with 90% accuracy before even talking about their commissions. With fluctuating monthly revenues, REALTORS® fit perfectly into the framework of the BP settlement agreement. As most now know, BP entered into an agreement to settle a class action lawsuit filed on behalf of all businesses. Qualifying businesses can now make claims under the framework of that agreement. The craziest aspect of the settlement agreement is that the losses do not have to be related to the spill at all. And the settlement is uncapped, meaning all valid claims will be paid regardless of the number of claimants or the value of their claims. No claimant has to worry that they will be taking money that should go to a business that was wiped out by the spill. All businesses will be fully paid. Virtually all REALTORS® are considered businesses since they file either a Schedule C on their personal tax return or file a Sub S corporate tax return. Geographically, the REALTOR®’s office must be anywhere in Hillsborough County or any other Florida county that touches the Gulf (Sarasota, Manatee, Pinellas, Pasco …). The REALTOR® must have a downturn in revenues for a three-month period in 2010 compared to 2009 or an

average of 2008-2009 or an average of 2007-2009. And there must be an upturn in 2011 for that same three-month period. The REALTOR® picks the best threem o n t h period between May and December. Let’s take a fictional REA LT O R ® in Seffner. Tom had his best year ever in 2010. With $200,000 in commissions, he did not think there was any chance he’d have a claim. Turns out he has three months that were down in 2010 and he is getting a big check from BP. The size of the required downturn and upturn depends on the location of the REALTOR®’s office. Most REALTORS® are in Zone D which requires a 15% downturn and a 10% upturn. Closer to the Gulf or Bay, Zone C requires an 8.5% downturn and a 5% upturn. Zone A, which is mainly barrier islands (St. Pete Beach, Clearwater Beach, etc.), does not require any downturn or upturn. Once a REALTOR® qualifies, the focus shifts to the amount of the compensation. While the formula is complex, it is basically the drop in “variable profit”

in 2010. The claimant picks the best 3-8 month period between May and December, 2010 and compares that variable profit to the variable profit in the previous year or years. Variable profit is determined by applying a formula to monthly profit and loss statements. With REALTORS®, it is usually necessary to create P&Ls using actual monthly revenues and spreading the annual expenses over all twelve months. Tom, the Seffner REALTOR®, would be very happy when told his his drop in variable profit was $80,000. His smile would grow when told that, under the settlement agreement, the loss of variable profits is enhanced. In his case, the loss would be enhanced by 25%. So, his claim would grow to $100,000.

The claims of most REALTORS® will be enhanced by 25%. REALTORS® in Zone A (barrier islands) receive a 150% enhancement. (Industries more directly affected by the spill have even greater enhancements.) Every REALTOR® active since 2009 should explore this. Few lost directly as a result of the spill, but a direct loss is not required. Our community as a whole suffered. If BP has agreed to pay, why not let them bring money back into our community? Kevin McLean, Esq. has been a civil trial litigator in Tampa since 1982. His firm represents businesses statewide in making BP claims. Visit their website, www.BPGulfSpill.com or contact Kevin at (813) 377-3730 or Kevin@ BPGulfSpill.com.

DESIGN • CRAFTSMANSHIP • SERVICE

SABAL HOMES CONTINUES TO EARN TOP HONORS Recognized for design excellence among the country’s most significant home builders.

41 35 AWARDS

Y E A R S Tradewinds 4 at FishHawk Ranch by Sabal Homes of Florida, Inc. 16308 Palmettoglen Place, Lithia FL 33547

Parade Of Homes

Since 1978 Sabal Homes has been on the forefront of homebuilding. Luxury, innovative designs and unsurpassed craftsmanship have been the factors that have set Sabal Homes award-winning standards. Along the way, the homebuilding industry has also taken notice by recognizing Sabal Homes with 41 prestigious design awards. For these accolades we are appreciative, but for the families that we build homes for, we are most honored. To learn more about Sabal Homes, visit us at www.SabalHomesFL.com

DESIGN

CRAFTSMANSHIP

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Page 14 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 15

GTAR MLS Statistics for March 2013 These figures do not include private sales or new construction unless entered into MLS

2013 Residential-Home Sales Condominium Sales Townhouse Sales Villa Sales Total Residential Sales* Commercial Sales Total Dollar Volume for Residential Sales Total Dollar Volume for Condominiums Total Dollar Volume for Townhouses Total Dollar Volume for Villas Total Dollar Volume for Vacant Land Total Dollar Volume for Duplexes/Tri’s/Quads Total Dollar Volume for Commercial Sales New Residential Listings* New Commercial Listings Average Residential Sales Price Average Condo Sale Price Average Townhouse Sales Price Average Villa Sales Price Total Residential Contracts Total Residential Listings* Total Commercial Listings

2012

1,757 231 161 49 2,267 17 $342,641,355 $ 25,533,816 $ 22,131,382 $ 6,636,168 $ 6,932,492 $ 3,246,000 $ 3,971,897 2,786 53 $ 195,015 $ 110,536 $ 137,462 $ 135,432 5,955 -------

Year to Date 2013

Year to Date 2012

4,395 587 415 119 5,742 42 $826,459,477 $ 65,558,643 $ 54,575,178 $ 16,652,274 $ 20,397,521 $ 5,912,768 $ 12,414,895 8,237 162 $ 187,188 $ 127,401 $ 130,969 $ 139,559 ---7,295 592

3, 782 438 440 108 4,919 44 $596,257,705 $ 40,114,311 $ 54,485,664 $ 13,022,630 $ 13,826,533 $ 4,760,147 $ 14,959,101 8,293 199 $ 160,073 $ 93,645 $ 122,202 $ 117,102 ---9,198 716

1,531 87 178 44 1,881 14 $242,464,470 $ 9,134,043 $ 24,200,346 $ 5,589,980 $ 6,880,967 $ 2,158,343 $ 4,146,506 2,847 59 $ 166,035 $ 104,989 $ 135,957 $ 127,045 6,325 -------

Single Family Time on Market

# Units

Less than 30 Days

841

31 to 60 Days

253

61 to 90 Days

162

91 to 120 Days

139

Over 120 Days

361

Total:

1,756

Condo Time on Market

# Units

Less than 30 Days

236

31 to 60 Days

54

61 to 90 Days

30

91 to 120 Days

18

Over 120 Days

68

Total:

406

*Residential, Condos, Townhouses, Patio Homes, Vacant Land, Duplexes, Tri’s and Quads does not include activity in area 299

<2

3

$ 29,999 or under 26 $ 30,000—$ 39,999 13 $ 40,000—$ 49,999 25 $ 50,000—$ 59,999 20 $ 60,000—$ 69,999 16 $ 70,000—$ 79,999 20 $ 80,000—$ 89,999 10 $ 90,000—$ 99,999 6 $100,000—$119,999 14 $120,000—$139,999 17 $140,000—$159,999 22 $160,000—$179,999 9 $180,000—$199,999 5 $200,000—$249,999 8 $250,000—$299,999 0 $300,000—$399,999 6 $400,000—$499,999 1 $500,000—$549,999 0 $550,000—$599,999 0 $600,000—$699,999 0 $700,000—$799,999 0 $800,000—$899,999 0 $900,000—$999,999 0 $1,000,000— and over 0 Totals 218

16 17 30 29 27 28 34 53 89 107 89 80 54 57 33 35 9 3 0 3 0 0 0 1 794

>4 3 3 2 4 5 6 7 8 24 49 46 66 49 149 107 103 51 14 5 11 11 7 3 11 744

Active Listings

Condo/Co-op Unit Sales Number of Bedrooms

Single-Family Unit Sales Number of Bedrooms

Price Class

Total 45 33 57 53 48 54 51 67 127 173 157 155 108 214 140 144 61 17 5 14 11 7 3 12 1,756

<2

3

25 25 29 29 37 24 10 9 22 16 5 11 1 7 2 7 3 0 0 0 0 0 0 0 262

0 6 4 4 7 5 10 10 12 12 10 8 12 14 5 8 3 1 2 1 2 0 0 1 137

>4 0 0 1 0 0 0 0 0 1 1 0 0 1 0 3 0 0 0 0 0 0 0 0 0 7

Single-Family Listings End of Month

Total 25 31 34 33 44 29 20 19 35 29 15 19 14 21 10 15 6 1 2 1 2 0 0 1 406

58 89 133 132 145 128 120 131 199 251 227 259 246 620 493 563 270 73 98 133 98 63 52 209 4,790

Sales Pending

Condo/Co-op Listings End of Month

Single-Family Listings During Month

68 59 59 75 91 74 66 52 85 82 63 51 64 94 57 62 20 7 4 13 7 7 5 21 1,186

Condo/Co-op Listings During Month

66 53 72 66 71 60 82 87 173 187 221 183 162 271 200 182 92 18 14 19 13 7 2 24 2,325

37 32 37 48 53 35 38 26 30 45 39 23 23 41 19 22 7 1 0 2 0 0 0 1 559

Sales by Price Range—Overall Price Range $1—$49,999 $50—$59,999 $60—$69,999 $70—$79,999 $80—$89,999 $90—$99,999 $100—$119,999 $120—$139,999 $140—$159,999 $160—$179,999 $180—$199,999 $200—$249,999 $250—$299,999 $300—$349,999 $350—$399,999 $400—$499,999 $500—$599,999 $600—$699,999 $700—$799,999 $800—$899,999 $900—$999,999 $1,000,000 and over

Jan

Current Month

YTD

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

709 255 270 227 233 238 415 509 434 440 327 594 362 229 143 141 60 44 27 13 14 30

11.52% 4.32% 4.32% 3.87% 3.24% 3.92% 7.56% 9.18% 7.74% 7.88% 5.49% 10.62% 6.75% 4.46% 2.70% 3.02% 1.13% 0.68% 0.59% 0.32% 0.14% 0.59%

12.41% 4.46% 4.73% 3.97% 4.08% 4.17% 7.26% 8.91% 7.60% 7.70% 5.72% 10.40% 6.34% 4.01% 2.50% 2.47% 1.05% 0.77% 0.47% 0.23% 0.25% 0.53%

0 2,064 0% 0%

0 2,116 0% 0%

0 2,051 0% 0%

5,714 23,486

100%

0 19,319 0%

0 21,435 0%

0 23,486 0%

Jun

Jul

Aug

Sep

Oct

Nov

256 96 96 86 72 87 168 204 172 175 122 236 150 99 60 67 25 15 13 7 3 13

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

1,818 2,,222 1,659 1,975 8.60% 22.22% 9.58% 12.51%

0 1,864 0% 0%

0 2,143 0% 0%

0 2,173 0% 0%

0 2,050 0% 0%

0 2,170 0% 0%

0 1,845 0% 0%

1,674 3,492 5,714 1,376 3,035 5,010 21.66% 15.06% 14.05%

0 6,874 0%

0 9,017 0%

0 0 11,190 13,240 0% 0%

0 15,410 0%

0 17,255 0%

Current Year 1,674 Previous Year 1,376 Change from Last Month Change from Last Year Current YTD Previous YTD % Change YTD

YTD Total

May

227 86 93 81 79 76 116 146 134 150 106 198 108 62 53 49 16 12 6 3 7 10

Mar

Dec

Apr

226 73 81 60 82 75 131 159 128 115 99 160 104 68 30 25 19 17 8 3 4 7

Feb

100%

As of 7/17/06 Prepared 04/15/2013

Additional statistics are available at www.GTAR.org!


Page 16 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013

Census Bureau: Nation’s rental vacancy rates down The rental vacancy rates for the nation declined from 8.4 percent in 2009 to 7.4 percent in 2011, according to one of two American Community Survey briefs covering the housing market released last month by the U.S. Census Bureau. Approximately four times as many metro areas experienced declines in rental vacancy rates as those that experienced increases.

The share of U.S. households that rent rather than own increased from 34.1 percent in 2009 to 35.4 percent in 2011. Nearly a quarter of the nation’s metro areas saw a rise in renting households, while less than 3 percent of the nation’s metro areas saw a decline. Rental Housing Market Condition Measures: A Comparison of U.S. Metropolitan Areas examines four

characteristics of the rental housing stock using American Community Survey data collected in 2009 and 2011: gross rent, gross rent as a percentage of household income, rental vacancy rates, and renter share of total households. When setting federal policy, a family is categorized as high rental if it spends 35 percent or more of household income on rent and utili-

Down payment assistance available for first-time homebuyers The Housing Finance Authority of Hillsborough County (HFA) recently announced an increase to their down payment assistance for low and moderate income first-time homebuyers in Hillsborough County. The program has helped over 250 families achieve the dream of homeownership in the past 2 years like Tonya B. “Being a single mother the program helped me achieve my dream of being a homeowner” said Tonya. “If it was not for the down payment assistance, I do not believe it would have been obtainable for me to own my dream home. The program has given me the opportunity to provide my daughter with a better living situation and for that I am thankful for all those that made my dream pos-

sible.” Like Tony, many homeowners are in need of down payment and closing cost assistance. The program combines a 30-year fixed rate, fully amortizing first mortgage loan and assistance in the form of a second mortgage of up to $7,500. The second mortgage is a 30-year deferred, 0% loan that may be used for down payment and/or closing costs. And all qualified borrowers will also receive a federal income tax credit of up to $2,000 every year they occupy the residence known as a Mortgage Credit Certificate. Program requirements include income limits, sales price limits, minimum credit score and debt to income ratio. The household income cannot exceed $67,680 for households

Educational Opportunities MAY 8

Broker/Manager Program “Take the Mystery Out of Property Taxes” (see pg 8) 14 Tech User Group 16 Increase Your Sales and Listings with a FHA 203K Renovation Program (see pg 2) 21 Reality Real Estate Panel of Experts - “It’s All About Short Sales” in Westchase! (see pg 17) 22-23 REALTORS® Land Institute (RLI): “Land 101: The Fundamentals of Land Brokerage” (see pg 8) 22 “Affordable Housing Solutions. What Every REALTOR® Should Know” (see pg 12)

JUNE 4 5 12 26

SBA Loans (see pg 12) Technology Expo (see pg 6) Affordable Housing “Lunch n’ Learn” (see pg 19) RCA Panel of Experts: Timeline for Commercial Transactions (see pg 12)

JULY 9

Tech User Group

AUGUST 6-7 13 13-14 21-22

En Espanol: 14 Hour License Renewal Tech User Group 14 Hour License Renewal How to Successfully List & Sell Commercial Real Estate (see pg 12) Register On-line! (Unless noted) Visit our website - www.GTAR.org Do you have any disabilities which require special accommodations, including the provision of auxiliary aids or services? If so, please let us know when you make a reservation.

of 1-2 persons or $78,960 for 3 or more person households. Homes anywhere in Hillsborough County, including the unincorporated county as well as within the city limits of Tampa, Temple Terrace and Plant City, qualify as long as the purchase price does not exceed $270,000. And, the program requires that a borrower have a minimum credit score of 640 with a maximum debt to income ratio of 45%. Interested buyers may receive more information about the program, including a program brochure by visiting the HFA’s website at: http://www.hillsboroughcountyhfa. org or by calling the program administrator, Sue Denihan at 813415-3549.

ties. In the study, the share of renters with high housing costs in the United States rose from 42.5 percent in 2009 to 44.3 percent in 2011. However, average rental rates in the United States declined from 2009 to 2011. “While we saw a decrease in rental vacancy rates and pricing in some areas, the burden of rental costs on households increased across many parts of the nation,” says Arthur Cresce, assistant division chief for housing characteristics at the Census Bureau. “Factors such as supply and demand for rental housing and local economic conditions play an important role in helping to explain these relationships.” Nationwide, only 11 metro areas reduced their shares of renters with high housing costs, while 62 metro areas increased their shares. Among the 50 most populous metro areas, some of the heaviest rental costs were borne by renters in metro areas in Florida, California and Louisiana in 2011, despite rent declines between 2009 and 2011. These include Miami with 55.7 percent of renters experiencing heavy rental costs. Orlando, Fla. (52.9 percent); Riverside, Calif. (52.2 percent); and New Orleans (51.3 percent), whose shares did not differ significantly from one another, folSee, QUARTER, Page 19

GREATER TAMPA ASSOCIATION OF REALTORS® 2013 My Florida Regional MLS Calendar ± MAY COURSE

MAY

Introduction to Fusion – 2 hours

May 7: 9 AM – 11 AM

In this class members will learn to customize their home page, execute new searches, access saved searches, navigate search results and property details, explore mapping features, set up prospecting, hot sheets, add & modify listings, create CMAs and much more!

May 7: 12 PM – 2 PM

MLXChange Basic - 3 hours

May 14: 9 AM – 12 PM

May 7: 2:30PM – 4:30PM

A mandatory class for new members to be completed within 60 days of joining. Class will teach both new and returning agents the basic functionality in MLXchange including search, printing and emailing. Class is also available online at http://mfrmlsuniversity.com or at any Association.

Compliance 101 – 1.5 hours

May 14: 1PM – 2:30PM

A mandatory class for all new members to be completed within 60 days of joining. Learn about the My Florida Regional MLS Rules and Regulations and the compliance procedure for accuracy of Listing Data, along with additional educational materials available on MFRMLSUniversity.com

Adding & Modifying Listings - 1.5 hours

May 14: 3PM – 4:30PM

This class is mandatory if you will be adding and modifying listings in the MLS. Learn how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques. Class is available through live webinars at MFRMLSUniversity.com or at any Association.

Introduction to Fusion – 2 hours

May 23: 9 AM – 11 AM

In this class members will learn to customize their home page, execute new searches, access saved searches, navigate search results and property details, explore mapping features, set up prospecting, hot sheets, add & modify listings, create CMAs and much more!

May 23: 12 PM – 2 PM

Introduction to Fusion – 2 hours

May 28: 9 AM – 11 AM

In this class members will learn to customize their home page, execute new searches, access saved searches, navigate search results and property details, explore mapping features, set up prospecting, hot sheets, add & modify listings, create CMAs and much more!

May 28: 12 PM – 2 PM

Adding & Modifying Listings - 1.5 hours

Apr 15: 3PM – 4:30PM

May 23: 2:30PM – 4:30PM

May 28: 2:30PM – 4:30PM

This class is mandatory if you will be adding and modifying listings in the MLS. Learn how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques. Class is available through live webinars at MFRMLSUniversity.com or at any Association.

Introduction to Fusion – 2 hours

Apr 23: 9 AM – 11 AM

In this class members will learn to customize their home page, execute new searches, access saved searches, navigate search results and property details, explore mapping features, set up prospecting, hot sheets, add & modify listings, create CMAs and much more!

Apr 23: 12 PM – 2 PM Apr 23: 2:30PM – 4:30PM

To register for a MLS class, please visit https://mdweb.marketlinx.com/mfr/ ± Calendar schedule as of 12.18.12. Subject to change without notice.


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 17

Don’t miss the bus! Great American REALTOR® Days by Anand Patel On April 9th and 10th, thirty-three GTAR members made the road trip on a chartered bus to Tallahassee for the annual Great American REALTOR® Days (GARD). From the many agents I had spoken to around the state prior to the event, I had heard that after you attend the first time, you’ll be hooked. I’ll have to say, I am definitely already looking forward to next year. GARD is an opportunity for fellow REALTORS® from around the state to come together in our State’s capital to voice our concerns on key issues affecting our industry. This year, the key talking points included

property insurance, affordable housing and sales tax on commercial leases. The event kicked off with a Block Party where we got to mingle with fellow professionals from all parts of Florida over food, drinks and music. The following day we break into groups and visit our senators and legislators in their offices and discuss

our talking points with them. Honestly, I was skeptical at first about this approach until one of our House Representatives we met with told us frankly to please let him know when key bills affecting our industry are coming before the House that we want him to pay attention to. I had no idea that approximately 2,000 bills are introduced in the limited sixty day window that our legislators meet while in session! Of those 2,000, fewer than 200 may get approved so you can see the importance of us being in Tallahassee drawing attention to those key bills that affect our business. There is something to be said for our elected officials to see our industry comes together like this in solidarity to discuss issues that are important to us. We definitely get our points across loud and clear! This year after the block party, the Tallahassee Young Professional’s Network hosted a great event benefiting RPAC and it was an opportunity to network with fellow YPN’ers from

around the state. During the first ever “Rally for Homeownership” that was held on the 10th, Florida REALTORS®, along with Chase bank, surprised rally attendees by donating a newly remodeled, mortgage-free home to a wounded Florida veteran and his family. This is the first time Retired Army Sgt. Michael Burke, his wife and two kids had a home to call their own. If you are debating attending this event in the future I can guarantee it is a brief two days well spent. GTAR currently takes one bus up to Tallahassee each year – next year let’s make it two buses! I promise that you too will be hooked. If you have any questions about the GARD experience please feel free to email me anand@prgtampa. com or call anytime (813) 390-0891. See you on the bus in 2014! Anand Patel is President of Pangea Realty Group and the 2013 chair of GTAR’s Tampa Young Professional’s Network.

Directors vote to add commercial listings to REALTOR.com The following items were acted upon at the March 11, 2013 Board of Directors meeting: • Purchase Professional Liability Insurance with American Insurance Company (ACE) for antitrust defense for $5,000 for $1,000,000 in coverage. • Reaffirm our authorization as members of the Board of Directors on March 11, 2013 authorization/permitting our CEO Carol Austin to purchase Certificate of Deposits from the various finan-

cial/lending institutions that are federally insured Certificate of Deposits with the policies and guidelines established for investments of our Association funds, and within the approval the current Treasurer. • Not sign an agreement with DotLoop since members can have access to their product without an agreement. • Add commercial listings to REALTOR.Com.

TE PANEL OF EXPER REALITY REAL ESTA

TS

LES” A S T R O H S T U O B “It’s ALL A in Westchase! s SHORT SALES, REO’ & ALTERNATIVES T SHOR

13 Tuesday, May 21, 20

S SALE

Check-in: 9:30 a.m.

p.m. Program 10 a.m. to 12 FREE Admission

ntal Breakfast Complimentary Contine

Location:

Westchase Golf Club

f Dr., Tampa 33626 11602 Westchase Gol discussion on of Experts” for a panel ality Real Estate Panel learn from the and ns Join us at the next “Re stio que ask y ivel allows attendees to act um for The ds and queses. nee c Sal rt cifi Sho addressing your spe of industry experts— tee mit experiences of a panel Com t Developmen by GTAR’s Professional tions. Brought to you

e your seat today! Limited seating. Reserv online at www.GTAR.org GTAR-members register et Others email Rebecca@gtar.n


Page 18 • Greater Tampa REALTOR® News • www.GTAR.org • May 2013


May 2013 • Greater Tampa REALTOR® News • www.GTAR.org • Page 19

A quarter of nation saw rise in renting households continued from page 16 lowed closely. Among the 50 most populous metro areas, only two became affordable for more renters – Richmond, Va., with a decline of 3.2 percentage points in the share of renters with high rental costs from 42.7 percent to 39.5 percent between 2009 and 2011, and Buffalo, N.Y., with a decline of 3 percentage points from 45.6 percent to 42.6. Rental costs • The median monthly rent plus the estimated cost of utilities (gross rent) was highest in San Jose, Calif. ($1,460) followed by Honolulu ($1,419). • The lowest median monthly rent plus the estimated cost of utilities (gross rent) was $502 in Wheeling, W.Va., and $536 in Johnstown, Pa. • Despite the large share of metro areas with declining vacancy rates, which could signal rent increases, 57 metro areas had gross rent de-

clines and only 23 had gross rent increases. Rental vacancy rate • At 40.3 percent, the Myrtle Beach, S.C., metro area’s rental vacancy rate was the highest in the nation. • Among the 50 most populous metro areas, the increase in the rental vacancy rate in Richmond, Va. (from 7.8 percent to 13.2 percent) was the largest, followed by Virginia Beach, Va. (from 6.2 to 8.5 percent) and St. Louis (from 6.5 to 7.9 percent). • Among the 50 most populous metro areas, San Jose, Calif. (2.7 percent) and Milwaukee (3.5 percent), had the lowest rental vacancy rates but were not statistically different from each other. Renter share of total households Among the 50 most populous metro areas, the areas with the highest share of renting households were

For your convenience... Satellite Service Centers Fairview Title Company 9310 N. Armenia Ave. Phone: (813) 933-2201 (Carrollwood)

Hillsborough Title, Inc. 350 E. Bloomingdale Ave. Phone: (813) 655-4000 (Brandon)

First National Title Services 16637 Fishhawk Blvd., S-105 Phone: (813) 681-9944 (Fishhawk)

Hillsborough Title, Inc. 833 Cypress Village Blvd. Phone: (813) 634-8866 (Sun City Center)

Hillsborough Title, Inc. 1605 S. Alexander St., #102 Phone: (813) 754-4440 (Plant City)

Hillsborough Title 2306 Ashley Oaks Cir., #102 Phone: (813) 750-1001 (Wesley Chapel)

Universal Land Title 750 W. Lumsden Rd. Phone: (813) 440-6515 (Brandon) All Satellite Service Centers provide delivery service upon request If you are interested in being an Affiliate Satellite Office, please call Sarah Hepburn at GTAR, 879-7010, ext. 109!

Los Angeles (50.8 percent) and New York (48.9 percent). Physical characteristics of housing Another brief released last month is Physical Characteristics of Housing. Based on American Community Survey data covering 2009 to 2011, it has statistics on basic physical and structural characteristics of the total housing inventory at the national level and metro level. According to the American Community Survey, there were 131.8 million housing units in the United States on average from 2009 to 2011, with 81.1 million (61.5 percent) single-family houses not attached to another structure. In terms of current housing inventory in the U.S., more than 95 percent of the nation’s metro areas have detached, single-family houses as the primary housing structure. Only 6 percent of all housing units in the United States were newer houses (2005 or later), while older houses (before 1950) accounted for 19.3 percent of the total housing inventory.

Housing inventory • Metro areas with the lowest shares of detached, single-family houses of the housing inventory were New York (36.3 percent), Naples, Fla. (40 percent) and Miami (42.3 percent). • Three metro areas had mobile homes account for more than 25 percent of their housing inventory: Farmington, N.M. (32 percent), Yuma, Ariz. (29 percent) and Lake Havasu City, Ariz. (26.7 percent). Newer/older houses • Newer houses accounted for more than 10 percent of the housing inventory in 39 metro areas. Gulfport, Miss. (16.4 percent) was the only metro area with more than 15 percent of its housing inventory built in 2005 or later. • Houses built before 1950 exceeded 45 percent of the housing inventory in Elmira, N.Y. (49.5 percent), Scranton, Pa. (48.8 percent), Johnstown, Pa. (47 percent), and Pittsfield, Mass. (46.9 percent). © 2013 Florida REALTORS®


Greater Tampa REALTOR News May 2013  

GTAR Monthly Newspaper

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