Sarasota Realtor Magazine - January 2012

JANUARY 2012

The Official Monthly Publication of the Sarasota Association of Realtors®

‘Be the One to Make a Difference!’

Page 6

2012 SAR Dues Are Now Due - See Page 14

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ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. *Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CGC1505166 ©2011 Pulte Home Corporation. All rights reserved. 8/11

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Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CBC057850 ©2011 Centex Homes. All rights reserved. 8/11

Contents

Sarasota Realtor® Magazine Volume 9, Issue 1 JANUARY 2012

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

6

Be the One

SAR 2012 President Laura Benson calls upon members

of the Association to take on challenges this year

and help improve the lives of others.

10 Tallahassee - Explained

Governmental Affairs Director Marc Mansfield provides his annual explanation of how state government works, as we prepare for 2012 Great American Realtor® Days.

12 Annual Report

Sarasota County Property Appraiser Bill Furst has released the 2011 Annual Report online, detailing his department’s analysis.

Volume 9 • Issue 1 •JANUARY 2012

15 Sales Soar

Property sales in November 2011 were up substantially

from this time last year, and up over last month, a sign that the buying season has started.

President Laura Benson Michael Saunders & Company President-Elect Roger Piro Town & Country Realty Secretary Stafford Starcher RE/MAX Alliance Group Treasurer Peter Crowley RE/MAX Alliance Group Immediate Past President Michael Bruno Michael Saunders & Company Chief Executive Officer Kathy Roberts Mission Statement The mission of the Sarasota Association of ® Realtors is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics.

We are committed to be the leading advocate of real estate in the communities we serve by protecting private property rights and expanding relationships with individuals and organizations both locally and worldwide.

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

Editorial Staff

21 School of Real Estate

SAR is launching a new School of Real Estate in 2012, providing local agents from the entire region with another valuable educational resource, right here at SAR!

In every issue 12- Property Appraiser 15- Sales and Listing Statistics 18- Commercial Investment Division 20- Education Programs 24- On the SAR Scene 25- Global Business Council 28- Women’s Council of Realtors® 30- Membership

JANUARY 2012

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

10- Governmental Affairs

32- Calendar of Events/Education 4

2012 SAR Officers

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

ON THE COVER: 2012 SAR President Laura Benson is pictured with SAR Board members (l to r) Michael Bruno, Joe C. Hembree, SAR CEO Kathy Roberts, Stafford Starcher, Bob Stanley, Kristin Triolo, Adam Chicoine, Bob Milhoan, Christina Pitchford, David Clapp, and Amy Worth-Paul.

Sarasota Realtor® Magazine

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

Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor ® magazine.

A yearly subscription for Sarasota Realtor ® magazine is available to non-members for $25, plus Florida sales tax.

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.

2012 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

SAR Emerging Leaders Program begins this month

SAR members are cordially invited to attend a FREE introduction to the 2012 Emerging Leaders Program on Wednesday, Jan. 18, from 9 to 11 a.m. at SAR. The “Travel the Leadership Path” program offers an outstanding panel of area leaders who will tell you about the rewards of getting involved with your local association and how far the leadership path can take you. For requirements of the Emerging Leaders Program, visit www.sarasotarealtors. com and click on the Education Calendar.

Panel members include: • Joe R. Hembree, Hembree and Associates, Inc. • Lee Wetherington, Lee Wetherington Homes • Darla Furst, Chairman, Florida Real Estate Commission • Anne Weintraub, Esq., Band Weintraub P.L. • Mike Bruno, Michael Saunders & Company • Dave Swenson, Exit Creative Realty (moderator) Some of the benefits include: Vision: Gain new insight into the organization’s goals and aspirations; Collaboration: Increase your effectiveness when working with peers and staff; Commitment: Discover how you can contribute to the success of the organization; Networking: You will be introduced to the leadership and workings of local organizations such as the Economic Development Commission (EDC), the SRQ Airport Authority, and the Sarasota Convention and Visitors Bureau.

You will also hear from nationally-recognized speakers highlighting topics such as the making of a leader and new trends and concepts for tomorrow.

C.J. Coury: SAR Affiliate of the Month for January 2012 The January 2012 SAR Affiliate of the Month is C.J. Coury, owner/operator of Pool Pros.

After years serving the real estate community from a lender position, C.J. has now opted to return to his roots and enjoy the Florida sunshine. With 12 years experience in pool maintenance he is now the owner/operator of Pool Pros and specializes in all phases of pool care. Pool Pros stands ready for all your Pool Service needs.

C.J. Coury Call today to experience the finest pool care services, serving the entire ManaSota area. You can contact C.J. directly at (941) 779-5280 or email at CJ@ManaSotaPoolPros.com.

Visit the web site at www.ManaSotaPoolPros.com

KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy

Call 941-366-1300 For A

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

Riddell Law Group R L G

3400 S. Tamiami Trail, Sarasota, Florida www.rlglawfirm.com The hiring of a lawyer is an important decision that should not be based solely upon advertisements.

Before you decide, ask us to send you free, written information about our qualifications and experience.

Cover Story 6

Be the One

L

2012 SAR President Laura Benson leads by example Laura Benson appreciates the fact that in order to achieve big goals, beneficial to both the Sarasota Association of Realtors® and the community as a whole, it will take more than one person.

“I may be the incoming Association president for 2012, but it will take the entire leadership team, working with the staff, to ensure our success,” said Benson. “I know we will have a great year because of what we will do together.”

As a successful agent with Michael Saunders & Company, Benson has been an extremely active member of SAR for over 12 years. Originally from Boston, MA, Benson is a 26-year resident of Sarasota. She is a certified instructor for the NAR-required ethics course, and has served on numerous SAR committees for the past decade-plus.

In her personal life, she has served on the Sarasota County School Board, Century Commission for a Sustainable Florida (a Florida Senate appointment), and the board of directors for Future Business Leaders of America.

But, for Benson, personal accomplishments and accolades pale in comparison to achieving her primary goal - encouraging participation from others.

That is the message she will reiterate at every opportunity throughout the year. Benson pledges to encourage SAR leadership, committee chairs, vicechairs and members, and the general membership to “be the one” to make a difference.

“I want our members to realize that they have a strong voice as a Realtor®,” she noted. “Our members are more than sales people and managers - they are advocates for everyone who wants to meet their housing and business needs. We will provide opportunities for our members to learn to use their voice to ensure that everyone who wants to buy a home or have a place to run their business can be successful.”

The vision of Realtors® as advocates for positive change in people’s personal lives, and in the collective life of the community, has been Benson’s central focus

JANUARY 2012

for many years. As a child, she was already actively involved in the real estate process. “I remember my mother seemed to think that a house under construction was ‘Open’ and she would drag my brothers and me through them! As an adult, nearly my entire career has been in one real estate related field or another - mortgage, construction, title and law. I have also worked in the area of advocacy as an elected official (the Sarasota County School Board), a member of many boards and as part of SAR’s Public Policy committee. I know first hand that even one more voice can increase the volume of a message that needs to be heard.”

Encouraging active participation in the local political process, Benson believes that SAR has come a long way in the past few years. But the work isn’t complete.

“This year, we will continue to nurture the relationships we have with local policy makers and other business groups,” Benson said. “We will reach out to new partners interested in the housing health of our community, and find ways to work together to ensure all in our community are meeting their housing and business needs.

Benson noted that SAR members need to appreciate the fact that they are much more than salespeople.

They are on the first line of defense of private property rights, and a strong ally of people who seek to become homeowners.

“I don’t think many Realtors® truly understand how important they are to consumers and the overall industry,” Benson said. “While focusing on the dayto-day activities necessary to stay in business, what happens in Tallahassee and Washington, D.C. or on the Internet seems too remote. But now, more than ever, what happens there has much more to do with how we conduct our business. No one else in the process of a transaction has a more important role than the Realtor®. We are central to all the activities that take place from the first moment to the very end and beyond. Who cares more about the consumer in a transaction than we do? Certainly not the bank

Sarasota Realtor® Magazine

Continued on P. 8, See BE THE ONE

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11/17/11 9:26:22 PM

Pat Englerth retires after 22 years at SAR

Pat Englerth

Pat Englerth, a 22-year employee of the Sarasota Association of Realtors® in the Membership Department, retired this year to spend more time with her family.

Pat began her career at SAR on Oct. 9, 1989, hired by then-CEO John Parker to work for Patti Toms in the SAR Membership Department.

At that time, SAR had roughly 1,300 members, and had just moved in to the current facility on South Tuttle Avenue.

Pat remembers the “old days,” when the MLS “system” was a paperbased system, not computerized as it is today. Printed books of property

listings had to be updated every two weeks, and members had to pay $40 to $50 for each new book.

Computers eventually replaced the old-fashioned methodology, giving members real-time, online changes to listing information that has proven invaluable to the real estate process.

Pat was recognized at the 2009 SAR Annual Meeting for her many contributions made in two decades with SAR, and received a welldeserved standing ovation from the crowd.

Everyone at SAR wishes Pat many happy years of retirement with her family and friends.

BE THE ONE From Page 6

focusing on a FICO score, or the distant Internet company who look at these folks as nothing more than commodity, or the politician who is trying to satisfy some special interest looking for a piece of the pie. You may be one Realtor® but you are one of a million strong, and together we can work on behalf of the consumer, ensuring someone is looking out for them.”

Benson is encouraged by the current real estate market in Sarasota, and the potential of the market in 2012 and beyond.

“I see good things ahead,” she noted.

“Sarasota remains a vibrant destination and a fabulous place to live. People SAR 2012 President Laura Benson with her sister, Kate, her daughter (also will come here as soon as they can.

Kate!) and grandson Ender, the newest member of the family, at the Dec. Employment numbers are improving 14th SAR Installation and Holiday Luncheon at Michael’s On East. and the inventory of homes is low. As consumer confidence increases, I believe needs to hear about all the effort we put into the community we will see more people willing to move about the nation to make it a great place to live,” Benson said. “Sarasota is an and the world. Everything is trending well, and I see that as incredible place to live and work, and as members of the real only getting better.” estate profession, we can all play a major role in making sure The positive role SAR members play in the community this area remains a wonderful family community.” must constantly be encouraged, and also recognized and The 2012 SAR Officers and Board of Directors were promoted, Benson noted. installed on Dec. 14th at Michael’s on East, and are ready “We need to toot our own horn! The entire community for an excellent year!

8

JANUARY 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The Future of Real Estate

Robots, holograms, even time travel may upend the industry

By Pat Curry Realtor® Magazine

Robots and artificial intelligence

There’s a scene in the 2002 movie “Minority Report” in which Tom Cruise walks by a billboard, and it shouts at him, “John Anderton! You could use a Guinness right about now!”

It’s the ultimate in personalized advertising. But that could only happen in a Steven Spielberg science-fiction movie, right?

It’s not as implausible as you might think. Popular Science reported in 2010 on IBM’s work developing digital billboards that display individualized ads. They pick up data from radiofrequency identification chips embedded in your credit cards or cell phone to retrieve details about you and your spending habits and serve up an advertisement just for you.

Is it so odd to think that it could plug your name into that?

Or measure changes in your body chemistry to figure out that you’re slightly dehydrated and could use something cold and refreshing right about now?

What would that kind of individualized marketing do for real estate listings? How would it change multiple listing systems? It could deliver information on houses that are on the market to people at precisely the right moment in their buying cycle. Maybe the system would peek into their bank balances and tap their credit score, changing the listings according to what they could afford to buy.

Privacy concerns notwithstanding, imagine the marketing possibilities.

Without question, we live and work in an age of extraordinary innovation. Technology is moving at an unprecedented pace. Who would have imagined 20 years ago that that staple of the real estate listing, the film camera, would become obsolete? Just try to buy a roll of film today— or get it processed. You’ll be running all over town before you find a lab that knows what to do with it.

For that matter, digital photography has changed dramatically since it was introduced. The first professionallevel digital cameras in the 1990s shot images at 1.3 megapixels. Today, those $15,000 cameras are paperweights— and you can take better pictures with your phone. (Can you imagine how people would have looked at you in 1991 when Kodak marketed the first digital camera if you had told them phones would have cameras in them?) The commercial for Best Buy about gadgets being out of date before they’re even out of the box is funny because it’s patently true.

We can’t imagine what the world of real estate will look like in 20 or 30 years. But we thought it would be fun to try.

So we’ve delved into the very serious world of cutting-edge research. We scratched the surface on what the massively smart people of the world are working on, spent a lot of time deciphering what the hell they were talking about, and applied it to the staple activities of the typical real estate practitioner.

Come with us on a journey (cue the “Star Trek” theme song) where no one has gone before. www.sarasotarealtors.com

Humans have been fascinated for decades with the notion of building machines to perform the rote tasks we’d rather not do. Where it gets interesting is in the area of artificial intelligence—machines that learn and assimilate human behavior. It’s been a staple of film and TV, from Rosie the robot maid in “The Jetsons” to that really sad android played

by Robin Williams in “Bicentennial Man.” The Personal Robotics Group at the Massachusetts Institute of Technology has been working for years to create “highly expressive humanoids,” including a social robot called Leonardo and a robotic real estate agent named Rea who exists in a virtual world where people can ask questions about buying property. The group is focused on developing robots with social intelligence that interact with humans, work with them as peers, and learn from them.

One of the major obstacles in making robots appear human has been the fluidity of their movements. Humans see their environment and move through it intuitively. It takes incredibly complicated systems just to get robots to pick things up without knocking anything over in the process—until now. This year, researchers in the MIT Computer Science and Artificial Intelligence Laboratory and the Laboratory for Information and Decision Systems made a breakthrough in robotic movement. This is considered a crucial step if robots are going to interact with people.

What’s the future application for real estate? Consider one activity that many agents dread—sitting in an empty house on the weekend hoping that someone will come look at it. How awesome would it be to have a robot agent to sit through open houses? First, the robot could go through the house and clean up. Equipped with extendable arms, it could replace burnedout lightbulbs in the can lights in cathedral ceilings and clean off the inch of dust that’s invariably on the blades of ceiling fans. Then it could put out all the open house signs—and maybe have a standard helium cartridge for blowing up balloons. It could do visual scans of the prospective buyers and read the RFID chips in their credit cards and cell phones to build prospect lists and perform follow-up calls. At the end of the day, it then would dutifully go pick up all the open house signs. It also would not complain about having to work Saturdays or Sundays when the weather is gorgeous. Hmmm, maybe the humans could learn something from the robots. On a more serious note, it could address the safety issue of agents being robbed or assaulted while sitting at open houses by themselves (though another solution would be needed to keep the home’s possessions secure).

Holograms

If there’s a movie scene that even the most casual “Star Wars” fan can recall, it’s the moment when R2D2 plays his

Sarasota Realtor® Magazine

Continued on P. 26, See FUTURE

JANUARY 2012

9

Governmental Affairs 10

Interesting facts about Florida government

By Marc Mansfield Governmental Affairs Director

F

Florida has three branches of government: Legislative, Executive and Judicial. To better help you understand how our system of government works, please see some helpful facts shown below, provided by the House of Representatives Office of the Clerk.

Representing the Legislative branch of government is the Florida Legislature, which is divided into two houses. The House of Representatives and the Senate make laws that govern Florida. There are 120 members of the House of Representatives and 40 members of the Senate.

The House of Representatives has two elected officers: Speaker of the House and Speaker pro tempore. The Speaker of the House is the constitutional officer who leads the House for a two-year term, manages its operations and presides over its sessions. The Speaker is elected by his or her fellow representatives.

The Speaker pro tempore is also elected by his or her fellow representatives and in the absence of the Speaker may exercise the authority of the Speaker. There are also two non-member officers appointed by the Speaker of the House: the Clerk of the House who serves as a constitutional officer and maintains an accurate record of the actions of the House; and the Sergeant of Arms who is in charge of maintaining order in the Chamber and also maintains the House’s property.

The Senate is comprised of the President and President Pro tempore. The Senate President is the highest held position in the Senate. He or she is designated as President by the majority party in caucus and then elected by the full membership of the Senate. The President Pro tempore is chosen by the President and although he or she may preside in the Chamber during the absence of the President, a different senator could also be chosen to preside. The Secretary of the Senate serves as a constitutional officer and maintains an accurate record of the actions of the Senate. The Senate Sergeant at Arms is in charge of maintaining order in the Chamber and committee rooms and also maintains Senate property.

The Governor of Florida is the head of the executive branch of government. When

JANUARY 2012

a bill comes to the Governor’s desk there are three choices: (1) The bill can be signed into law, (2) It can be allowed to become law without a signature, or (3) it can be vetoed.

If the Governor vetoes a bill, a two-thirds vote of both the House of Representatives and Senate are required to override the veto.

The Florida Supreme Court represents the judicial branch of state government. There is a Chief Justice, who serves as the highest ranking member of the Supreme Court with six other justices, making a total of seven justices. The Chief Justice is elected by the other justices serving on the court. The Supreme Court is the highest court in the state and the Chief Justice also oversees the State Court System.

Please Note: The Florida Legislature meets every year in a session beginning on the first Tuesday after the first Monday in March and lasting 60 calendar days. Special sessions may be called either by the Governor or by the leaders of both chambers acting jointly.

However, due to Redistricting, this year the 2012 Legislative session will begin on Tuesday, Jan. 10 and end on Friday, March 9th

Sarasota RealtorÂŽ Magazine

www.sarasotarealtors.com

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Property Appraiser

THE PROPERTY APPRAISER’S 2011 ANNUAL REPORT IS NOW AVAILABLE

2011 Annual Report

by Property Appraiser now available online

Once again, we are pleased to announce the roll out of the Sarasota County Property Appraiser’s Annual Report. As in the past, the 2011 version has valuable statistical data and trending information.

These data provide the citizens of Sarasota County and the Realtor® community, with valuable tools and information reflecting

By Bill Furst, GRI,values CRS, for CRB the status of real property tax Sarasota County purposes in Sarasota County, as of January Property 1st of every year.Appraiser Once again, we are pleased to announce the roll out of the Sarasota County Report. Asand in is the The 2011 Annual ReportProperty becameAppraiser’s available inAnnual mid-December, past, the 2011 version has valuable statistical data and trending published on the property appraiser’s website. We believe using this information. platform to present the Annual Report has allowed us to alert as many dataas provide thetocitizens of Sarasota and SarasotaThese residents possible the wealth of dataCounty available forthe their Realtor® community, with valuable tools and information reflecting use. You can view or download the Annual Report and the parcel the status of real property values for tax purposes in Sarasota County, database, from the property appraiser’s website, www.SC-PA.com. as of January 1st of every year.

The 2011 AnnualReport Report became available in mid-December, and In publishing the Annual our objective is to provide both a published on overview the property appraiser’s currentis and historical of the trends inwebsite. marketWe andbelieve taxableusing this platform to present the Annual Report has allowed us to alert as values, as well as other relevant statistics to the citizens of Sarasota many Sarasota residents as possible to the wealth of data available for County.

Theuse. report contains information on parcels of property by their classification and trends over the past ten years. You’ll find data on You can view or download the Annual Report and the parcel how exemptions and portability have benefited our residents and database, from the property appraiser’s website, www.SC-PA.com. affected taxable values, as well as millage rates, mobile home, In publishing the personal Annual Report ourinformation. objective is to provide both agricultural, and tangible property a current and historical overview of the trends in market and taxable values, as well as other relevant statistics to the citizens of Sarasota County. The report contains information on parcels of property by classification and trends over the past ten years.

You’ll find data on how exemptions and portability have benefited our residents and affected taxable values, as well as millage rates, mobile home, agricultural, and tangible personal property information.

Every individual has their own learning style. Knowing that, we’ve Every their own learning style. Knowing made the dataindividual containedhas in the Annual Report available in text, that, bar we’ve the data in thetable Annual ReportFeel available text, bar graph,made pie chart, line contained chart and trend formats. free toincopy graph, pie chart, line chart and trend table formats.

Feel free and use any of the information contained in the report. A note of to copy and usestatistics any of the in the report. caution; the for information each year arecontained derived from the annual A note caution;for thethe statistics for each yearinare fromofthe assessment rollsofcertified collection of taxes thederived early part annual assessment rolls certified for to thevalues collection taxes in1,the October.

The figures for each year relate as ofof January early part date of October.

TheThe figures to values the assessment in Florida. datafor foreach 2011year relyrelate on sales and as of January 1, the assessment in Florida.

The1,data forThe 2011 rely property characteristics evident ondate or before January 2011. on sales and property characteristics evident on or before January 1, same applies to prior year’s data.

For more 2011. The same applies to prior year’s data. information, My aim is to publish an Annual Report relevant to the needs contact the My aim is to publish an Annual Report relevant to the needs and and of the people ofCounty.

SarasotaLet County.

Letofus know of concerns ofconcerns the people of Sarasota us know any Property any additional information, data, or formats Appraiser’s additional information, other data,other or formats you wouldyou findwould helpfulfind helpful and would like to see included in future editions.

You can office at and would like to see included in future editions. You can email your email your suggestions to PA@SC-PA.com.

941.861.8200. suggestions to PA@SC-PA.com.

12

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JANUARY 2012

Sarasota Realtor® Magazine

2011 ANNUAL REPORT HIGHLIGHTS Did you know Sarasota County’s th 2010 Taxable Value Ranked 10 in the State of Florida? See Page 31.

(Data based on the 1st Certification of 2011 Assessment Roll on October 5, 2011.)

% Change From 2010 Market Values: Sarasota County -6.61% ($51.98 billion) City of Sarasota -6.53% City of Venice -6.07% Longboat Key -4.77% City of North Port -6.61% Taxable Values: Sarasota County ($39.56 billion) City of Sarasota City of Venice Longboat Key City of North Port

-6.26% -6.84% -5.24% -4.51% -8.37%

Save our Homes: Value sheltered from advalorem taxes -30% (Avg. SOH cap $53,165) Parcels with SOH caps -32% (29,331 parcels) Average Market Value: Single Family $186,085 -7.6% Condos $211,327 -6.4%

NEED A SPEAKER FOR YOUR MEETING? BILL FURST WILL COME AND TALK WITH YOUR GROUP AND ANSWER YOUR QUESTIONS. To set up an appointment call our office at 941.861.8200 or email us at PA@SC-PA.com

www.sarasotarealtors.com

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IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY 2012 Dues Invoices Are Now Due!



Payment Methods: ELECTRONIC PAYMENTS ONLY!  Two payment options: 1. Deduct directly from your checking account via: A. Debit card (MC,V) – the easiest way to have the payment deducted from your checking account. (please note that if your debit card is simply an atm card without a MasterCard or Visa symbol it will not work). If you use a debit card with the MC or V symbol, you will check “credit card” as payment type.

B. Electronic check – use same information as on your check.

2. Credit card (MasterCard, Visa, or American Express).  Instructions for all payments  Go to www.sarasotarealtors.com  Click on MY SAR ACCOUNT at top of page and log in  Under My Services, click on “Pay/View Bill Online”  Follow the payment process to confirmation of a successful transaction  Online charges will appear on your bank and credit card statements as “Realtor Association/MLS Chicago IL”  To print a copy of invoice, click on the invoice number

OR Come to the SAR offices and use our computer in the library which is programmed to open directly into the log‐in screen and has easy instructions located at the workstation for your use.  Once payments are made online, they are updated to your account within 72 hours. We encourage you to go online to check the status of your account.



Due Dates, Termination of Services, and Refund Policy  Due: December 15, 2011; Past Due: January 17, 2012, 5:01 p.m.  $50 late fee assessment on open balances a/o January 17, 2012, 5:01 p.m.  Members with open balances a/o 5:01 p.m. on January 17, 2012 will be subject to suspension of all Realtor® services.  Members with outstanding balances at 5:01 p.m. on February 15, 2012 will be terminated. Reinstatement will require payment in full of all amounts due at date of termination, plus a $150 SAR application fee to rejoin as a new member.  For a member whose license is placed inactive prior to Jan. 1st and who has paid their invoice, the inactive member will receive a full refund of the payments made.  For a member whose license is placed inactive on or after Jan. 1st and who has paid their invoice, all payments received are non‐refundable.

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JANUARY 2012

Sarasota Realtor® Magazine

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November 2011 sales up 12.7 percent over last year

November 2011 property transactions in the Sarasota real estate market totaled 602, up 12.7 percent over last November. The total also exceeded the October 2011 sales figure of 577. The market has remained strong and stable as the winter season gets into full swing, reflecting continued confidence in Sarasota as a destination location.

In fact, the Today Show’s real estate report from Barbara Corcoran in late November noted that Sarasota was one of the top recovering markets in the nation. Corcoran said Sarasota is a “beautiful beachfront community” that offers residents and visitors “a sophisticated, urban cultural experience” that is propelling sales and prices in 2011.

Overall, sales in 2011 continued on pace to exceed last year by a wide margin, and should put the Sarasota market at the highest level since 2005. In fact, at the end of November, overall sales were within 186 sales of exceeding all of last year.

This sales resurgence has paralleled the drop in the available inventory, and put the remaining months of inventory in the range of a seller’s market.

The inventory of available properties for sale in Sarasota was at 4,672 in November, up slightly from October’s level of 4,525. The inventory sunk to a 10-year low of 4,408 in August 2011.

The November 2011 median sale price for single family homes rose to $162,000 from the October 2011 median of $149,838, a rise of 8 percent.

This month’s figure was also higher than last November, when the median was $160,100. The condo figure has been fluctuating for several months, and again dropped in November to $127,000 – lower than last month’s figure of $143,000 and last November’s figure of $159,000. The year-to-date median sale price was $155,000 for single family homes and $157,250 for condos. These figures have remained remarkably steady for the past year, indicating a stabilizing market.

“The Sarasota real estate market has retained traction, and we hope the brightening national economic picture will help maintain and even push this market higher,” said SAR President Michael Bruno. “There is an encouraging sense of stability and strength in our market.”

Pending sales were up in November 2011 to 782 compared to last month’s figure of 772 and last November’s total of 764. Last month, 552 single family

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“Very few communities in the nation can compete with Sarasota in terms of affordable home values, climate, culture, amenities and the wealth of properties offered here.”

- SAR President Michael Bruno homes and 230 condos went under contract.

The distressed property market was relatively unchanged, but did drop slightly from 43 percent of the total market to 41.3 percent. At the height of the foreclosure crisis, that figure topped 51 percent in the second quarter of 2010.

“We were certainly happy to see that Sarasota was in the national spotlight on the Today Show, and in a positive way,” said Bruno. “Very few communities in the nation can compete with Sarasota in terms of affordable home values, climate, culture, amenities and the wealth of properties offered here.”

Sarasota Realtor® Magazine

JANUARY 2012

15

Sarasota MLSSM Statistics - November 2011 Single Family Condo

Unit Sales 700 600 500 400 300 200 100 0 Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Single Family

Median Sale Price

Condo

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

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Single Family

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported

%Pending

# New Listings

# Off Market

This Month

3,031

435

14.3

190

$162,000

$156,074

6.9

552

18.2

765

175

This Month Last Year

4,012

369

9.2

182

$160,100

$163,000

10.9

547

13.6

733

186

2,924

412

14.1

190

$149,838

$156,000

7.1

585

20.0

701

186

‐

5,451

‐

182

$155,000

‐

‐

7,166

‐

7,411

‐

Oct 95.2 95.1

Nov 94.8 95.3

Dec 94.1 ‐

Last Month YTD

Jan 94.4 94.5

2010 2011

Single Family – Sale Price Vs. List Price % Rates Feb 92.8 94.1

Mar 95.2 94.7

Apr 94.8 94.1

May 95.2 94.2

Jun 95.3 94.3

Jul 94.7 94.1

Aug 95.2 94.5

Sept 94.6 95.2

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Dec. 12th, 2011, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse.

Source: Sarasota Association of Realtors® 16

JANUARY 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - November 2011 Single Family Condo

Inventory 5,000 4,000 3,000 2,000 1,000 0 Nov‐10 Dec‐10

Jan‐11

Feb‐11 Mar‐11 Apr‐11 May‐11 Jun‐11

Jul‐11

Aug‐11 Sep‐11

Oct‐11 Nov‐11

Single Family Condo

Pending Sales 1000 900 800 700 600 500 400 300 200 100 0 Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Condo

This Month This Month Last Year Last Month YTD

2010 2011

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

1,641

167

10.2

181

$127,000

$158,000

9.8

230

14.0

325

241

2,195

165

7.5

230

$159,000

$165,000

13.3

217

9.9

320

255

1,601

165

10.3

222

$143,000

$161,000

9.7

187

11.7

307

221

‐

2,116

‐

218

$157,250

‐

‐

2,421

‐

2,636

‐

Oct 94.3 93.2

Nov 94.5 93.6

Dec 92.9 ‐

Jan 92.5 93.4

Condo – Sale Price Vs. List Price % Rates Feb 92.4 91.2

Mar 92.5 92.2

Apr 93.2 93.4

May 94.2 94.5

Jun 93.7 94.2

Jul 94.2 92.5

Aug 93.5 93.1

Sept 93.2 92.8

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

Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

JANUARY 2012

17

Commercial Investment Division

How long can you tread water?

F

By Brad Lindberg CID President Fifteen thousand years ago, the shoreline of Sarasota was one hundred miles farther west than it is today, because of rising sea levels. Talk about real estate being under water! This resulted in a real estate problem no one but God could resolve, which brings me to the point of this discussion!

It has long been said, “Look at life through the windshield, not the rear view mirror.” If we could only have a second chance at those decisions we made in the past, knowing then what we know today. Just think of the possibilities. Many of us would not have health issues, money problems, or properties that are worth half of what they were worth just a few years ago.

One of the hardest discussions as a real estate professional is to convince an owner to list their property with you. At the same time, you must have a realistic discussion with them about market conditions.

In commercial real estate we do what is called a BPO on the property. A BPO is the acronym for “Broker’s Property Opinion.” This is the expert opinion of value based on a multitude of calculations, all supported by historical data taken from a snapshot in time.

The ability to be realistic, and at the same time be optimistic on securing the best price for the owner, can be the difference in getting the listing or not. If you lowball the valuation and you are successful in achieving a higher sale price, you are a hero. Of course, you risked the possibility of never getting the listing in the first place because the low valuation may

not be what the owner wanted to hear.

If you over-inflate the valuation and secure the listing, and offers come in for less than your expert valuation, your reputation may become tarnished and future referrals could be lost.

The “snapshot in time” is the operative period that becomes so contentious when presenting a listing pitch to the customer in today’s market. For most of history, real estate was a great investment with sustained growth each year. Only recently have we had the reverse trend dictate market values, causing angst with customers in determining realistic values of their properties.

So, where is the commercial market going?

The market is getting better. Inventories are reducing and great buying opportunities are harder to find. Vacancy rates are dropping and leasing rates are slightly rising. Medium sales prices are inching higher and construction is picking up.

Are we out of the woods yet? No - not by a long shot. The economy is still fragile, susceptible to outside influence, not just locally, but worldwide as well.

Hanging on too long and hoping the market will get better is not always a good strategy. If you could ask the property owner who settled along the coast 15,000 years ago how they were going to deal with their property, they probably wouldn’t list with you if you told them that they were going to be under water.

On the other hand, suggesting they buy flood insurance may have kept your reputation intact.

CID slates meetings for January 2012 CID General Membership Meeting - Tuesday, Jan. 17th, 8:30 a.m. – SAR Auditorium Details of the program to come Commercial Marketplace Sessions

- Friday, Jan. 6th, 9 a.m. – SAR Auditorium - Friday, Jan. 13th, 9 a.m. – SAR Auditorium - Friday, Jan. 20th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, Jan. 27th, 9 a.m. – SAR Auditorium

2012 CID Officers & Directors Officers:

Directors:

President: Brad Lindberg, Sperry Van Ness President-Elect: Linda Emery, Sperry Van Ness Vice-President: Tim Mapp, Mapp Realty Secretary: Dave Roth, RE/MAX Alliance Treasurer: Lori Hellstrom, Osprey Real Estate Services Past President: Anthony Homer, LWR Commercial 18

JANUARY 2012

Susan Goldstein: Michael Saunders & Company (1 year 2012) Sarah Olesen: Michael Saunders & Company (1 year 2012) Tony Veldkamp: Sperry Van Ness (2 years - 2013) Bob Milhoan: Hembree & Assoc. (2 years - 2013) Peter Skokos: Norton Hammersley (3 years - 2014) Kevin Robbins - Harry Robbins Associates (3 years - 2014)

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Know the risk factors in commercial deals

By Mariwyn Evans Realtor® Magazine

In good markets and bad, commercial real estate investment has risk. But don’t let the risk of failure make you miss a great deal.

“For the risk taker, this is a great market because the opportunities for returns on your risk are the best we’ve seen in five years,” says Norman Miller, director of the Burnham-Moores Center for Real Estate at the University of San Diego and coauthor of Commercial Real Estate Analysis and Investment (Thompson Southwestern, 2007). Here we discuss the top risks facing commercial investors and how brokers can help buyers and sellers navigate them successfully.

Risk One: Interest Rates

“The biggest risk for commercial real estate today is interest rates and where they will be in two or three years,” says Ray Baca, CPM, managing partner of Monterrey Asset Management in El Paso, Texas. Because an increase of 200 or 300 basis points in interest rates can make or break a sale, “we’re advising our multifamily owners with a short-term investment horizon to sell now, when buyers can still get reasonable interest rates,” Baca says. Sellers may risk leaving a little money on the table, he says, but if higher interest rates materialize, “there’s a very real probability” that we will experience two or three years of very slow sales before the cycle turns, he says.

“There’s plenty of uncertainty in the economy today, and uncertainty is how you define risk,” says Ken Riggs, CCIM, CRE, president of the Real Estate Research Corp. in Chicago.

Risk Two: Cap Rate-Return Imbalance Rising interest rates will also start moving cap rates “in the wrong direction” and push prices lower, says Andy Burnett, CCIM, investment advisor with Sperry Van Ness in Oklahoma City. He’s already steering his clients away from most singletenant retail ­triple-net lease deals because he thinks valuations are too high and retailers are too vulnerable to declines in consumer demand.

The possible risk of overpaying is also surfacing as cap rates for major-market, Class A offices near 2007 levels. “The question is, ‘Is the market rational?’ ” says Ken Riggs, CCIM, CRE, president of Real Estate Research Corp. in Chicago.

For the next couple of years, he says, “there is a sense of logic” in the investment because buyers understand what their returns will be. For the longer term, investors need to consider whether they can live with the consequences of potentially higher interest rates, he says.

Yet, many real estate professionals believe that income increases will soon justify higher prices—and perhaps even new development. A forward-looking Allen Matkins/UCLA

Anderson Forecast California Commercial Real Estate Survey released last summer found that developers were confident that fundamentals would catch up with prices by 2013.

In a similar vein, a survey of Florida real estate professionals conducted in the first quarter of 2011 by the Bergstrom Center for Real Estate Studies at the University of Florida found that positive sentiment among commercial real estate owners and investors had reached the highest level since 2008.

Not everyone agrees that climbing prices are justified. David Shulman, senior economist at UCLA, believes that “asset markets have gotten ahead of the underlying fundamentals of space markets.” Speaking at a mid-2011 Forecast Conference, he cited a June 2011 Green Street Advisor’s Commercial Property Price Index, which showed that values in top-tier properties were within 10 percent of 2007 highs. Shulman warned that “investors are partying like it’s 2006.” Since then, upward price momentum has waned but still remains in positive territory, according to Green Street.

“Rent growth remains the big question. In my opinion, it’s reasonably safe to build stable rent growth into multifamily projections. Retail, office, and warehouse are more likely to have flat or even declining rents as long as the economy is weak,” says Burnett.

Rents are also under pressure from former foreclosures, whose owners bought low and can therefore offer belowmarket rents, says Steve Wiegmann, CCIM, CRE, president of Wiegmann Group in Orange County, Calif. “It can devalue the whole rental market,” he says.

To guard against decreasing rental streams, pay close attention to lease-end dates, renewal options, and any other tenant “outs” that could reduce income, suggests Beau Beery, CCIM, CPM, vice president, commercial real estate with AMJ Continued on P. 29, See RISK

Education Programs

SAR School of Real Estate opens doors

New careers in real estate can now be nurtured at the brandnew Sarasota Association of Realtors® School of Real Estate (SARSRE).

Learn from an experienced instructor and practicing Realtor® in the comfortable, professional surroundings at the SAR Headquarters, centrally located at 3590 S. Tuttle Ave., Sarasota, FL 34239. Classes will be held nights and weekends in Conference Room A in the SAR Education Building.

Instructor for the SAR School of Real Estate is Michael W. Davenport. He is multilicensed in Florida and has a distinguished resume that includes over 40 years of sales and management experience.

The SAR School of Real Estate has the support and expertise of a thriving 3,200 Realtor® member association. SAR has carefully designed its classes to be offered over several weeknights and weekends so that the student will have time to digest the information and come away with the confidence to tackle the state license exam.

Students who enroll in SARSRE courses will be exposed to the next step in their professional careers after licensure and will be well prepared to join the Realtor organization.

SAR will blend the pre-license courses with current offerings of post-license for salespeople and brokers which also lead to the Graduate, Realtor® Institute (GRI) designation.

2012 Course Schedule Sales Associate Pre-License Jan. 26-Feb. 25, 2012 Tuition: By Jan. 12: $339 (includes manual and materials) After Jan. 12: $364 Class limited to 20 students Tuesday & Thursday Evenings 5:00-10:00 AND Saturdays 8:30-1:30 Review: Feb. 25, 8:30-10 End of Course Exam: Feb. 25, 10-1 Broker Pre-License March 1-March 31, 2012 Tuition: By Feb. 22: $395 (includes manual and materials) After Feb. 22: $420 20

JANUARY 2012

SAR Members: 10% discount Class limited to 15 students Tuesdays & Thursdays 5 to10 p.m.

AND Saturdays 8:30 a.m. to 1:30 p.m. EXCEPT March 1 (3 to 10 p.m. and March 3, 8:30 a.m. to 3:30 p.m.

Review: March 31, 8-10 End of Course Exam: March 31, 10-1 Instructor: Michael W. Davenport

State Exam Review April 13-14, 2012 8:30-4 (lunch break 12-1) Cost: $125 For Broker and Sales candidates Sales Associate 45-Hour Post-License GRI Course 1: Standards of Practice Jan. 23-Feb. 1, 2012 Tuition: On or before Jan. 9, 2012: $310 (includes manual and materials) After Jan. 9, 2012: $335 Course dates: Monday, Tuesday, Wednesday--Jan. 23-25, 8-5 AND Monday, Jan. 30, 8-5, Tuesday, Jan. 31, 8-4, Wednesday, Feb. 1, 8-11 End of Course Exam: Wednesday, Feb. 1, 12-3 (Course also carries 14 hours continuing education credit for license renewal for sales associates and brokers and satisfies the NAR Code of Ethics training requirement for Realtors due by Dec. 31, 2012) Instructors: Chuck Bonamer, Grant Simon, Steve David Course provider: Florida Realtors School of Real Estate 30 Hours Broker Post-License GRI Course 2: Essential Real Estate Techniques April 23-May 3, 2012 Tuition: On or before April 9, 2012: $265 (includes manual and materials) After April. 9, 2012: $290 Course dates: Monday, Tuesday, Wednesday--Jan. 23-25, AND Tuesday, Wednesday May 1 & 2, 9-4 each day End of Course Exam: Thursday, May 3, 10-1 (Course also carries 11 hours continuing education credit for license renewal for sales associates and brokers) Instructors: Lou Ludwig, Steve David, Ira Zlatkin, Chuck Bonamer Course provider: Florida Realtors® School of Real Estate

Sarasota Realtor® Magazine

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Profit in the local luxury home market Title: Luxury Home Marketing Specialist (CLHMS) Course Dates: Feb. 28-29, 2012 Location: SAR Auditorium Cost: $550 Register at www.luxuryhomemarketing.com/sarasota Recognized as the mark of accomplishment in luxury markets around the world, the Certified Luxury Home Marketing Specialist (CLHMS) designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence and confidence they require. At SAR Feb. 28-29, 2012. Cost is $550. Registration is handled at this website: www.luxuryhomemarketing.com/sarasota.

Same price for all Realtors®.

Get certified on distressed sales Title: Short Sales & Foreclosure Specialist (SFR) Course Date: March 21, 2012 Location: SAR Auditorium Cost: $139 Instructor:Terry Watson Direct distressed sellers to finance, tax and legal professionals. Get training on both the buyer and seller side of short sale and foreclosure transactions. Learn from free webinars that you can download anytime, anywhere. Gain access to the SFR logo and marketing materials.

Differentiate yourself as an SFR expert at www.realtor.com and www. realtor.org. Become SFR Certified!

Waterfront property course coming this month Title: Waterfront Property Due Diligence Date: Jan. 11, 2012, 9 to 11 a.m.

Instructor: David M. Levin, Esq. Cost: SAR Members: $10; Others, $20 David Levin will present his annual waterfront property seminar at SAR. If you list or sell waterfront property, you should attend this seminar. Here are some of the topics that David will cover:

• • • • • •

FEMA Compliance Coastal Construction Permitting Riparian Rights Dock permitting Beach Access Much more!

What’s up with the economy? Get the scoop Jan. 17th Title: Economic Update Date: Jan. 17, 2012, Noon to 1:30 p.m.

Presenter: Dr. Ted Jones, Stewart Title Cost: Free to SAR Members, $10 others In real estate, staying on top of industry news is essential to your success. Whether you’re learning about the latest trends, home sale prices, title insurance or more, you need accurate information. On January 17, 2012, Dr. Ted C. Jones, PhD, Senior Vice President/Chief Economist for Stewart Title Guaranty Company and also Director of Investor Relations for Stewart Information Services Corporation (NYSE-STC) will present the latest reports on

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real estate, finance and the economy.

You can use this information to your advantage when trying to stay in the know and pass it along to your customers and prospects.

The program is free and sponsored by Stewart Title, which will provide lunch for the attendees. Please register at www. sarasotarealtors.com.

Dr. Jones will be making a presentation for the Commercial Investment Division in the morning. This afternoon presentation will be geared towards residential agents.

Sarasota Realtor® Magazine

JANUARY 2012

21

RAJC program slated Title: Turf Wars vs. Team Play:Real Estate Transactions with Realtors® and Attorneys Date: Jan. 18, Noon to 1:30 p.m.

Cost: Free to SAR & SCBA Members; Others, $10 Realtors® and Attorneys play important roles in real estate transactions. The interaction can be peaceful or turbulent.

This seminar explores this important relationship and helps us all determine how we can better our relationship and ultimately better help our clients.

CONGRATULATIONS!

Dedication and hard work pay off!! We congratulate our members who have successfully completed the e-Pro designaion; Resort and Second-Home Property Specialist (RSPS) designation, Seniors Real Estate Specialist (SRES) and Certified Professional Commercial (CPC) designation!

CERTIFIED PROFESSIONAL COMMERCIAL (CPC)

Faud Ali Thomas Aposporos Douglas Bish Vladimir Bourenine Gail Bowden Glenn Brown Lisa Brown Susan Chandler Carol Ciarniello Dawn Cohen Mary Cole Frank Coon Richard Curtis Chaim Gleitmann Steven Goldman Allen Hovis Allen Jenkins Sherrie Klepser Charles Kratz Daniel Kusnetzky Oliver McConnell Sally Rackey Victoria Ranck Janice Reese Steve Rider Howard Royer Tina Rudek Troy Sacco Steve Saemisch Erick Shumway Morris Smith David Swartz Deborah Watson J. Ruediger Weiss Lyle Wentz

Blakeley & Associates Realty J Wood Realty RE/MAX Alliance Group Xena Vallone Realty, Inc. Sperry Van Ness Commercial RE/MAX Alliance Group Cityscapes Int’l Realty Group Sandals Realty of Sarasota Marcus & Company Realty, LLC Dawn Cohen and Associates Sarasota Realty, Inc. CareFree Realty, Inc. Keller Williams Rlty Manatee Xena Vallone Realty, Inc. Cityscapes Int’l Realty Group J Wood Realty White Sands Realty Group Sanderling Real Estate RE/MAX Platinum Realty EXIT Creative Realty McConnell and Associates RE/MAX Platinum Realty CareFree Realty, Inc. Commerical Choice Realty, Inc. Florida Internet Realty, LLC Horizon Realty International Engel & Voelkers LBK Realty Generous Property Ken Brand Lic R E Broker RE/MAX Alliance Group Hembree and Assoc., Inc. Wagner Realty Property Stewards Realty, LLC Charity & Weiss Int’l Realty Keller Williams Rlty Manatee

RESORT/SECOND-HOME PROPERTY SPECIALIST (RSPS) Chaim Gleitman

Xena Vallone Realty, Inc.

True Lux course teaches how to handle luxury client Title: True Lux Date: Wednesday, Jan. 4, 9 to 10:30 a.m.

Cost: FREE to SAR Members; $10 others Instructor: Anne Weintraub, Esq., Band Weintraub Kick off the new year by learning how to meet the needs and expectations of the luxury client.

Attorney Anne Weintraub will discuss what you need to know, how to assemble the right team, and you will receive practical tips, including: - How is the luxury client different—or are they?

- What the Realtor® needs to know - Legal pitfalls to avoid - How to assemble the right team to assist the client - Practical tips to insure a successful Realtor®/customer relationship.

Please register early, as this class is expected to fill up quickly!

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

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

SENIOR REAL ESTATE SPECIALIST (SRES) Ralph Jurney F. McKay Biggar III 22

JANUARY 2012

Coldwell Banker Allison James Estates & Homes Sarasota Realtor® Magazine

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Begin the new year with MLXchange tuneup Pre-registration is required for all MLXchange classes at www.mfrmls. com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot!

If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR).

MLXchange Basic Jan. 3 or Jan. 16, 9 a.m. to Noon Mandatory session for all new users.

Learn the basic tools of MLXchange.

It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification.

Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work.

- Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information Entering and Updating Listings in MLXchange Jan. 3 or Jan. 16, 1:30 to 3:30 p.m.

Mandatory class if you will be entering and updating your own listings.

You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.

- Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that www.sarasotarealtors.com

have specific entries in the Rules and Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listing MLXchange Advanced Jan. 10, 9 a.m. to Noon Take MLXchange to the next level!

In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches.

- Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order - Editing favorite reports iMapp - Interactive Tax and Mailing Labels Jan. 10, 1:30 to 3:30 p.m.

In this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area.

- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones - Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches Sarasota Realtor® Magazine

Creating A Professional CMA Jan. 23, 9 a.m. to Noon This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default Design Web Pages, Capture Leads Jan. 23, 1:30 to 3:30 p.m.

One of the most crucial components in today’s real estate professional’s day-today business is capturing and handling leads along with time management. This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go hand-in-hand with a successful real estate business.

- Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders - Plans manager, copying and modifying the action plan - Emailing the client private webpage - Customizing email templates JANUARY 2012

23

On the SAR Scene

SAR Celebrates 2011, Ready for 2012!

2011 SAR President Michael Bruno prtesents the President’s Award to Elaine Adair at the Dec. 14th SAR Installation and Holiday Luncheon.

Joe R. Hembree, the 2011 SAR Realtor® of the Year, with son Joe C. Hembree, new SAR Board member, at the Dec. 14th SAR Installation and Holiday Luncheon at Michael’s on East.

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

Susan Keal, Lee Hayes Bryon (Lee’s daughter), Lee Byron, 2011 Humanitarian of the Year, and Christina Pitchford, last year’s recipient, at the Dec. 14th SAR Installation and Holiday Luncheon.

Brad Lindberg, commercial Realtor® with Sperry van Ness, was honored as Commercial Realtor® of the Year on Dec. 8th at the CID Christmas Party. With Brad are Anthony Homer (2011 CID President) and Lee DeLieto Jr. (2010 CID President).

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JANUARY 2012

Photos by Jesse Sunday

John Brink and Janet Trefry are shown at the Dec. 13th After Hours Business Networking Event at Gecko’s.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Title: Global Business Council Hosts Tuccillo on Economy Date: Feb. 21, 1 to 3:30 p.m.

Location: SAR Auditorium Cost: FREE to SAR GBC members $10 for non-members The SAR Global Business Council kicks off its seminar season with Florida Realtors’ John Tuccillo speaking on the Florida real estate economy and how global events impact the market. The event is free to members of the Global Business Council.

Total residential sales in Florida for 2010 were estimated at approximately $48.8 billion, and sales to foreigners were estimated at $12.7 billion.

John Tuccillo Florida Realtors® Chief Economist

According to the most recent NAR study on the subject, approximately 25 percent of total Florida residential sales are estimated to have been to foreigners in the 12 months ending June 2011 Four states—Florida, Arizona, California, and Texas accounted for 58 percent of total U.S. residential home sales to non-resident foreigners in the 2009/2010 time frame. Florida accounted for 31 percent of total U.S. residential home sales to non-resident foreigners in the same time period.

SAR members will also receive an update on participation in international trade shows and conferences. If you would like to join the Global Business Council, please contact Catherine at 941328-1167.

Complete CIPS Designation in only 5 days!

Title: CIPS Designation Dates: May 21-23 and May 29-30, 2012 Where: SAR Main Auditorium Instructors: David Wyant, CIPS, Carla Rayman, CIPS and Pat Tan, CIPS Cost: $499 ($126 discount) for SAR members $575 ($50 discount) for non-SAR members The Global Business Council is pleased to announce that it will host the complete Certified International Property Specialist designation course at SAR in May 2012.

CIPS designation courses provide international and multicultural real estate education to Realtors® and other professionals seeking training in international business issues, such as currency conversion, cultural awareness, and legal and tax requirements.

CIPS Institutes concentrate five of the required international CIPS courses into a 5-day format. SAR has elected to split the 5-day Institute into 3 days one week, and 2 days the second week so that students will not have a 5-day hole in their business.

May 21, 2012: Global Real Estate: Local Markets: Analysis of the international real estate business environment, government regulations and cultures. The practical aspects of international

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brokerage, networking, marketing and selling are discussed (Wyant) May 22, 2012: Global Real Estate: Financial Concepts: Provides the tools needed to present investment information to international clients—in their currency and area (Wyant) May 23, 2012: Asia/Pacific and International Real Estate: This covers real estate practices in Asia and the Pacific with emphasis on cultural influences, economic trends and assessment of investment opportunities.

A special chapter on working with the Japanese is included (Wyant) May 29, 2012: The Americas & International Real Estate: Practical information for professionals who work with Caribbean, North, Central and South American investors. Historical and cultural influences, regional relationships, and investment opportunities are covered along with a special focus on Mexico (Rayman & Tan) May 30, 2012: Europe & International Real Estate: This provides information on working with clients in Western and Central Europe. The European Union and its impact on international real estate are covered, along with economic and real estate trends, networking and relationship building, plus marketing and selling practices (Rayman & Tan)

Sarasota Realtor® Magazine

JANUARY 2012

Global Business Council

Learn how global events impact Florida

25

Space exploration

FUTURE From Page 14

message from Princess Leia. “Help me, Obi-Wan Kenobi.

You’re our only hope.” The hologram is riveting—it brings the message to life and puts the recipient in the midst of the sender’s reality. Plus, it’s three-dimensional. No wonder Luke Skywalker was furious when R2-D2 shut it down.

Then, of course, there’s the holodeck of “Star Trek: The Next Generation” fame—a way to immerse yourself in another reality. You could go to another place without really being there and experience it in safety. It was perfect for Star Fleet training exercises. The Klingons could kick students’ butts, and they could just rewind the program and play it again until they learned all the right moves to come out on top.

Both of these sci-fi technologies have real-world counterparts. The initial versions of holograms were underwhelming at best, shimmery images that seemed to move inside a picture. Today, the technology has advanced to a point where the images appear startlingly lifelike and threedimensional without the use of any special glasses. Plus, the images can be seen by several people at the same time from different angles. The video camera systems used to create the images make it possible to interact with someone who isn’t there.

The applications for advertising are significant. In England, a department store recently had a display that appeared to feature a popular girl band singing in its window. Fiat 500 used it to create a life-sized car configurator at a launch event for prospective customers.

The holodeck is, to say the least, more complicated. At present, the closest that researchers have come is a concept called the CAVE. It’s a theater that sits in a larger room. The walls of the CAVE are rear-projection screens and the floor is a down-projection screen. Using special glasses, users walk around the room to see and hear 3-D graphics from all sides.

The future use in real estate for both of these technologies could be phenomenal. With holodecks, agents could get training on presenting model homes before the models are ever built. For that matter, models wouldn’t have to be built at all, saving builders tremendous amounts of money—and allowing them to tweak floor plans to eliminate features that buyers didn’t like and add others that appealed to them.

There would be no need to send relocation buyers on home scouting trips. They could “see” prospective homes, walk through a virtual representation of them, and see the views from each of the rooms—in every season.

Combine that with holograms of their own furniture and they could see how their belongings would fit into the spaces. Listing a vacant home and concerned about security?

What if you could use holograms to simulate people moving inside the houses—reducing the risk of burglaries, vandalism, and squatters?

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JANUARY 2012

If you thought the country’s manned space exploration had come to a close, think again. Spaceport America, located in the New Mexico desert near the White Sands Missile Range, is the world’s first private commercial spaceport.

In development for two decades and operated by the New Mexico Spaceport Authority, it is a hub for such forwardthinking companies as Virgin Galactic, a company within Richard Branson’s Virgin Group that hopes to offer space travel someday to the public.

If there is space travel, there will be space vacations. As with every vacation destination, there will be vacation homes. Talk about a house with a view.

Time travel. Yes, you read that right.

A recent Reuters news article had this intriguing headline:“ ‘Faster than light’ particles threaten Einstein.”

Some concepts in science are considered immutable, including Albert Einstein’s 1905 theory of special relativity that said the speed of light is a cosmic constant and nothing could go faster. It’s a cornerstone of scientific views of the universe. Or so scientists thought.

Recently, an international group of physicists working at the CERN particle research center near Geneva announced a discovery that has been met by astonishment and skepticism by the scientific community. They spent three years measuring neutrino particles. Neutrinos are elemental particles that are exciting to physicists but few others. What is important to know is that they were believed to travel at a speed near the speed of light. Now, it appears that they actually travel faster than the speed of light, something that was thought to be impossible.

The news was so big that none other than Stephen Hawking, the world’s most famous physicist, was quoted in the Reuters article. He was skeptical, but that’s a scientist for you. Many other scientists will now spend a great deal of time trying to confirm or deny the results.

Why is this important to real estate? Because if the results are confirmed, it would be possible—in theory—to send information into the past. Yes, time travel, baby.

Imagine it. You’d never have another offer rejected because someone else beat you to it. You could sleep in late and still get your listing submitted to the MLS by 8 a.m. If a home inspector found something wrong with a house that screwed up the deal, you could go back in time and fix it before the inspector got there. It could be like the movie “Groundhog Day.” Let’s hope the physicists testing the results get all the research dollars they need. Because if there’s one thing real estate salespeople need more than listings in great locations, reasonable clients, and a fluid mortgage market, it’s extra time—and maybe an occasional Guinness.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

By G.M. Filisko Realtor® Magazine

The more things change, the more they stay the same.

At least that seems to be true in the world of real estate litigation.

Turmoil in real estate markets has brought new legal challenges to brokers, including a greater likelihood of disputes surrounding property condition disclosures and commission payments. Yet agency—a broad topic that includes dual agency, buyer representation, and fiduciary duty dilemmas, among other things— continues to be an area of high risk, according to the 2011 National Association of Realtors® Legal Scan, a biennial study that’s based on interviews with real estate commissioners and brokers, a review of cases, and a close analysis of recently enacted state statutes.

The report seeks to identify current and emerging legal issues and risks.

“The day-to-day reality is that every transaction is tougher today than five years ago,” says David Howell, executive vice president and chief information officer at McEnearney Associates Inc. in McLean, Va. “You have to be at the top of your game more than ever to avoid disputes.”

Good Ol’ Agency Still Causing Trouble

With the exception of property condition disclosure, Legal Scan respondents ranked agency issues in their top three legal issues more than any other topic.

“When it comes to dual and buyer agency, disclosure is a concept that sales associates are continually lax in dealing with,” says Ron Hardgrove, director of real estate for the Illinois Department of Financial and Professional Regulation, Division of Profes­sional Regulation in Springfield. “Sales associates have trouble saying, ‘This is who I am and what I do, and it’s a value to you.’ ” Practitioners are supposed to disclose agency relationships at their first substantive contact with customers. But consumers complain that they were never told about dual agency or about agency relationships in general, Hardgrove says. “Salespeople fumble that, but not necessarily with intent to deceive,” he says.

Sylvia Golden Norris, a real estate lawyer in Sarasota, and SAR’s attorney, says her clients also struggle with agency. “A large part of my practice is handling agency representation cases for big insurance carriers,” Norris says. “When we discuss the claims we’re seeing, agency is always high up there, and breach of fiduciary duty comes into play.”

She says that she doesn’t think some licensees understand what a fiduciary duty is and perhaps

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are unclear about the breadth of responsibility owed to clients.

“Know your obligations; remember whom you represent, what you’re allowed to do, and what you’re not allowed to do; and put it all in writing so everybody’s clear,” she says.

Agency issues can overlap with distressed sale issues. Some Sylvia Golden Norris sales associates don’t understand they’re fiduciaries of lenders when they’re representing lenders in REO sales. They owe lenders the duties they owe individual buyers or sellers. They must communicate, put things in writing, and keep on top of disclosures required of lenders.

Broker Corner

Day-to-day transactions getting tougher

The Law of Distress A hefty 68 percent of Legal Scan respondents ranked property condition disclosure among their top three current legal issues. The most significant development in this area is the emergence of disputes arising from distressed sales.

“The typical scenario is that right before or after a closing, something gets discovered that the buyers felt should have been disclosed,” says Bill Wright, brokerowner at the seven-office RE/MAX Executive Realty in Franklin, Mass. “All our [distressed] sales are as-is with no warranties, but there still needs to be full disclosure of any known material defects.”

In Massachusetts, sellers aren’t required to complete property condition disclosure forms, and some sellers, on the advice of their attorney, refuse to do so, Wright says. Nonetheless, his company now requires sellers to complete the form before his company will list their home on the market.

“Listings are hard to come by, without a doubt,” Wright says. “But when I’ve had to make a phone call to the seller, I’ve always been successful in getting that disclosure form. If someone refuses to fill one out, I see red flags.”

Distressed property disputes aren’t limited to property condition issues, says Dax Watson, a real estate lawyer at Mack, Drucker & Watson in Phoenix. “What we’re

Sarasota Realtor® Magazine

Continued on P. 29, See TOUGHER

JANUARY 2012

27

WCR installs ‘New Generation’ of leadership

By Marianne LeBar WCR President

Generation; a stage of technological development or innovation. The word generally means all the people of approximately the same age, sharing certain attitudes.

Usually contemporary individuals regarded as having a common, cultural or social characteristic and attitude.

2012 WeD JaN

18 FrI FeB

10 FrI Mar

9

FrI apr

2012 is full of excitement! We are successful Realtors® and those businesses that support the world of Realtors®, our beloved affiliates.

We have that common bond; we have made the decision, as individuals and as a group.

Yes, it has been a time requiring intestinal fortitude, but we are still here. The status quo of just existing is gone.

WCR Program Meeting Dates

Finding the UP in the Downturn Location: University Park Country Club Speaker: Fawn Germer

Ringling Museum of Art

Location: University Park Country Club Speaker: Ringling Museum of Art

Technology Presentation

Location: University Park Country Club Speaker: Steve Richman

FREC Presentation

13

Location: University Park Country Club Speakers: Darla Furst & Juanita Watkins

FrI MaY

Past President’s Luncheon

11 FrI JUN

15

Location: Polo Grill, Lakewood Ranch Joint Event with Manatee WCR

Joint Meeting with SAR Location: TBD Speaker: TBD

We are building our business in 2012 and taking our real estate business to the next level.

Get Ready to be a valued part of the phenomenon!

Here is our 2012 Calendar of Business Resource Luncheons - enthusiasm and Get Ready to expand your horizons with a New Generation!

SaraSota Chapter

Maximize Your Membership.

FrI JUL

RPAC Presentation

13

Location: Sarasota Yacht Club Speaker: Helen Moore & Jack Graecen

WeD aUG

Sarasota Historical Presentation

15

WeD Sept

12

FrI oCt

Location: Sarasota Yacht Club Speaker: Sarasota Historical Society

Fashion Show Location: Polo Grill, Lakewood Ranch

Business Development

12

Location: Michael’s On East Speaker: TBD

WeD NoV

Insurance

14

FrI DeC

14

Location: Michael’s On East Speaker: Ron Regan

Incoming President’s Installation Location: Sarasota Yacht Club

REGISTER FOR ANY OF THESE EVENTS by e-mailing Linda Witt at MzWitt@aol.com

2012 Leadership Team

28

Marianne LeBar President Michael Saunders & Company Cell: 941-650-0337 mariannelebar@michaelsaunders.com

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

Leslie Lauritano Programs/Education Regions Mortgage Phone: 941-329-4104 leslie.lauritano@regions.com

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

Sherri Spanos Recording Secretary Lakewood Ranch Communities Phone: 941-907-6000 sherri.spanos@lakewoodranch.com

Kristina Talkie Membership Committee Michael Saunders & Company Phone: 941-349-3444 kristinatalkie@michaelsaunders.com

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

Linda McConnell Corresponding Secretary FBC Mortgage LLC Phone: 941-504-0823 lmcconnel@fbchomeloans.com

Tina Darling Webmaster Innovative Agent Services Phone: 941-921-5027 Tina@floridaassistant.com

JANUARY 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

TOUGHER

From Page 27 seeing—and my guess is it’s the trend going forward—is a large number of complaints arising out of how sales associates handle ­distressed properties.”

Watson says he’s seen two common types of problems arising from short sales, resulting in lawsuits: 1. Frustrated sellers. “The listing agent negotiates with the bank but isn’t successful at getting the sale closed, and that becomes the sales associate’s fault,” Watson says. “Sometimes it’s because the associate wasn’t paying attention to the foreclosure sale date or other deadlines. But, even if they do nothing wrong, if they don’t finalize the transaction, sales­

RISK

From Page 19 Inc. of Gainesville, Fla. Beery also carefully reviews cotenant clauses on retail properties. “You need to know how many other tenants will vacate if one major tenant leaves,” he says.

Risk Three: Inflation Even if rents do rise, net operating income faces another major challenge: inflation. “Too often, investors overlook the risk of capital expenditures and how inflation can drive up expenses,” says Riggs.

“We haven’t seen any real inflation in a decade, and if it comes, I’m not sure those 2 percent per year increases built into most office leases will be enough to cover rising expenses,” says William O’Brien, SIOR, president of M.C. O’Brien Inc. in Brooklyn, N.Y. Lease clauses that tied operating increases to the Consumer Price Index were once commonplace, but today’s owners seldom have such protections, he says.

Multifamily rents have been rising in most markets and are up 3.8 percent in the second quarter of 2011 compared with the same period in 2010, according to Carrollton, Texas–based MPF Research, but higher inflation could quickly erode profits, warns Baca. He’s advising his clients who intend to hold properties for 10 years or more to make all upgrades and repairs now, while cash flow can support the cost.

Wild Card Risk: Fear Itself Perhaps the hardest risk to evaluate and control in commercial real estate is the fear of taking risk.

“The greatest concern today for many investors is preserving capital, even though risk-adjusted return is probably a lot higher than it was before the credit crisis,” Riggs explains.

“Buyers are concerned that history will repeat itself,” so they’re doing a lot more research and worst-case scenario analysis.

That slows down deal velocity, says Beery.

Some buyers and owners are also fearful that there won’t be a viable market when they want to sell in five to eight years and move on to their next investment.

“When investors don’t see an exit strategy, they get skittish,” says Baca. Fears have lessened in the last year, however, he www.sarasotarealtors.com

people are going to get blamed.”

2. Giving legal or tax advice. Never advise sellers on issues outside of your expertise. “Short sale sellers will ask, ‘Is the bank or Uncle Sam going to come after me because this sale isn’t going to cover my mortgage?’ ” Watson says. “If salespeople answer that question, that’s a violation of their license. And if they get it wrong, that’s bad. We a see a lot of litigation related to that.”

Watson remains concerned about future legal challenges arising from short sales. “People are in a position of stress, and even if we see a successful ­closing, they may come back and say, ‘You should have gotten me a better deal,’” he says. “I do worry about that.” adds. Price increases are beginning to trickle down from Class A assets to lesser properties and second-tier markets. In July, research company CoStar reported that its Commercial Repeat Sales Index was showing comparable price increases in both investment-grade and general commercial real estate for the prior three months.

Commercial brokers have to walk a fine line between painting a realistic picture of market risk and adding to fears that may kill a deal, Wiegmann says. One option: Demonstrate to investors that the return on the investment reflects any added risk that’s present today.

Why Risk Predictions Can Go Wrong If the financial crisis has taught investors anything, it’s that even really smart people don’t see every risk coming. A big part of the problem is that most investors—even sophisticated professionals—base their projections for future risk on what happened in the past, says Liang Peng, assistant professor with the Leeds School of Business at the University of Colorado at Boulder. “They don’t assume the correlation between risk and return can change over time,” he says.

Another difficulty, says Norman Miller, director of the Burnham-Moores Center for Real Estate at the University of San Diego, is that investors often spend their time focusing on less critical variables like cap rates and hold periods, but overlook key—but difficult to predict—risk factors that can have a much greater impact. For example, he says, “if I’d told you in 2006 that the CMBS market would be almost nonexistent in 2009, you’d have thought I was crazy.”

Analyzing critical factors such as vacancy rates, absorption, rent growth, refinance rates, and expenses helps create a clearer picture of risk, says Miller. So, too, can finding indicators of potential macro risk that affect real estate. In a soon-tobe published article, “Risk and Return of Commercial Real Estate: A Property Level Analysis,” Peng uses data from the National Council of Real Estate Investment Fiduciaries to determine which variables are indicators of commercial real estate risk. His findings: Commercial real estate risk is positively correlated with GDP growth and the change in the credit spread. Negative correlations occur with inflation, stock market volatility, and the change in the credit spread over 10-year Treasuries.

Sarasota Realtor® Magazine

JANUARY 2012

29

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Abbott, Steve: C. Steven Abbott R.E. Broker Anchorena, Felipe: Anchormel Realty & Associates Butz, Stefan: 357 Real Estate Oros, Heidi: Paradise Coast Realty Group PL Petersen, Laura: Frontgate Realty Inc.

New Members

Alba, Rae: Michael Saunders & Company Arango, Michelel: Sandals Realty of Sarasota Bakkom, Bonnie: Hook & Ladder Realty Inc. Barrantes, Luis: Atchley International Realty Bauer, Eleonore: Wagner Realty Boyd, Stephen: Coldwell Banker Res R E Buffaline, Jonnie: Sandals Realty of Sarasota Calabrese, Fred: RER International Casella, Robert: Keller Williams Lakewood Ranch Della Vedova, Craig: Sandals Realty of Sarasota Donald, Penny: Coldwell Banker Res R E Edmonds, Sharadan: Allison James Estates & Homes Gonzalez, Bernardo: Innetco Realty Hagman, Helmer: Sarasota Foreclosures.com Inc. Hertel, Michael: A & D Edwards American Dream Hoffman, Mariele: RE/MAX Alliance Group Kaufman, Marc: Andrews & Associates Realty Kovalsky, David: Signature Sothebys Internat’l Kropp, Keith: Frontgate Realty Inc. Kulka, Nick: Exit Realty Signature Prop Kusnetzky, Daniel: EXIT Creative Realty Lewis, Carol: Century 21 Dockside Realty Assoc Mallie, Marshall: Hook & Ladder Realty Inc. Martinez, Kimberly: NAI Manasota Moore, Jason: Andrews & Associates Realty Place, Nancy: Coldwell Banker Res R E Ploeger, Eric: Crown Properties Group Inc. Pospisil, Ivana: Impulse Realty LLC Schatz, Peter: Michael Saunders & Company Scheller, Linda: Keller Williams On The Water Stanoch, Annette: Key Realty Story, Margo: Coldwell Banker Res R E Uecker, Lucy: Exit King Realty Waid, Richard: Luxury Estates Intl R.E. & Dev Winters, Joan: Exit King Realty Wolf, Kimberly: Keller Williams On The Water Yoo, Diane: Allison James Estates & Homes

Now With ...

Adolfson, Evelyn: Keller Williams Lakewood Ranch Anchorena, Carmen: Anchormel Realty & Associates Andres, Roberta: Sandals Realty of Sarasota Ayers, Katheren: Coldwell Banker Res R E Ayers, Annette: Coldwell Banker Res R E Beninato, Michael: RE/MAX Alliance Group Champney, Melody: Sarasota Home Realty Collier, Mark: Michael H Furtick Inc. Conway, Clinton: Sperry Van Ness Commercial Crandall, Rosemary: Green Lion Realty LLC D’Amico, Elizabeth: Exit King Realty Dilges, Bruce: Sperry Van Ness Commercial Dunn, Brian: Sandals Realty of Sarasota Emery, Linda: Sperry Van Ness Commercial

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JANUARY 2012

Flanders, Jennifer: Century 21 Dockside Rlty Assoc Fusco-Sullivan: Sabrina Coldwell Banker Res R E Gagg, Michael: Sandals Realty of Sarasota Gilliland, R Kim: Michael Saunders & Company Gonzalez, Debra: Signature Sothebys Internat’l Grant, Duneska: Coldwell Banker Res R E Hagman, Helmer: Sarasota Foreclosures.com Inc. Holt, Lauren: RER International Hoskins, Gary: Coldwell Banker Res R E Kohne, Rebecca: Rossi & Company Inc. LaBonte, John: Charles Rutenberg Realty Inc. Lindberg, Bradford: Sperry Van Ness Commercial Mast, James: Moynihan Realty Group Inc. Mazzaferro, Alina: Century 21 Dockside Rlty Assoc McCann, Mark: Michael Saunders & Company McCulloch, Stephanie: Gulf Rlty Invest & Dev Inc. McNally, Jennifer: Beachside Resorts Inc. Migone, Michael: Sperry Van Ness Commercial Nippe, Susan: RoseBay Real Estate Inc. Ott, Glenn: Beachy Properties Pujol, Cher: Prudential Palms Realty Reutter, Thomas: RE/MAX Alliance Group Schatz, Richard: RE/MAX Tropical Sands Swanson, Karin: Dwell Real Estate LLC Vileno, Pauline: Hook & Ladder Realty Inc. Vollmer, Helene: White Sands Realty Group Inc. von Lazar, Nancy: Coldwell Banker Res R E Weaver, Lisa: DeFreest & Associates Inc.

New Affiliates

AMI LBK Property Management

4211 Carrollwood Village Drive Tampa, FL 33618 Phone Number: 813-833-0599 Representative: Bill Ayers Specialty: With properties under management across the U.S., iTrip.net is a web-based company that has revolutionized the way people book vacations, making the process easy and stress free. In Florida, we serve owners in Siesta Key, Venice, Lido Key, Clearwater … Most recently iTrip.net has expanded to Anna Maria Island and Longboat Key. iTrip.net recognizes that property owners considering a vacation rental arrangement will rely on the advice of their trusted local Realtors. Therefore, you should not be surprised that we at iTrip.net see the Sarasota Association of Realtors as vital to our ongoing success.

Email: bill@itrip.net

BAER’s Furniture

5301 Clark Road Sarasota, FL 34233 Phone Number: 941-923-4200 Representative: Kent Haas Specialty: Home Furnishing Company. Baer’s 85,000 sq. ft. freestanding Sarasota, Florida furniture store showroom is conveniently located on the corner of Clark Rd. and Honore. This Southwest Florida furniture store is open 7 days a week for your shopping convenience.

Baer’s provides world class interior design assistance also.

Email: khaas@baers.com

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Burritos Mexican Grill

2700 Stickney Point Road Sarasota, FL 34231 Phone Number: 941-922-3888 Representative: Al Grabo Specialty: Burritos Mexican Restaurant is a family owned and operated casual Mexican Restaurant / Cantina that has proudly satisfied appetites with the best authentic Mexican food in Sarasota since 1995. Burritos restaurant is well known by locals for its tasty food, excellent prices, and laid back ambiance.

Burritos Mexican Restaurant is offering all SAR members a 15% discount off their entire bill. (Including take-out) Just present your REALTOR® business card to receive this offer.

Email: burrito@burritosmexicangrill.com

Coastal Printing

1730 Independence Blvd Sarasota, FL 34234 Phone Number: 941-556-8894 Representative: Terry Rayner Specialty: Coastal Printing is an innovative printing company!

Our entire team is driven towards one mission – to assist you by producing communication media that will enhance your business. Offset or digital printing, web-to-print, variable data, direct-mail, personalized URL’s, QR Codes, web-to-mobile, MS Tags… we can put marketing technology to work for you today! Laser focused… we are like a beam of energy firing your message, energizing your target audience to make a play on your “call to action”; collecting, sharing and communicating… we unlock your language!

Email: terry.r@coastalprint.com

MGA Insurance Group

Office Solutions Insight

15 Paradise Plaza #130 Sarasota, FL 34239 Phone Number: 941-404-5750 Representative: Laurie Letzo Specialty: Business Management Consulting Services for small businesses to medium sized businesses, as well as, individuals, seniors, and the self-employed who need help with QuickBooks can benefit from outsourcing their bookkeeping and personal money management to us. We provide our clients with the most consistent and reliable bookkeeping services available utilizing QuickBooks, the leader in accounting software. Laurie Letzo of Office Solutions Insight is certified by Intuit Inc., as an expert in QuickBooks, Enterprise, and POS Point of Sale.

Email: laurie@officesolutionsinsight.com

Pool Pros of Sarasota, Inc.

5251 Benjamin Lane Sarasota, FL 34233 Phone Number: 941-779-5280 Representative: C.J. Coury Specialty: With 12 years experience in pool maintenance C.J. Coury is now the owner/operator of Pool Pros and specializes in all phases of pool care. Pool Pros stands ready for all your Pool Service needs. You can expect white glove service and a sparkling clean pool with dependability from highly trained technicians. Weekly service includes a 10-Point Inspection and unconditional client satisfaction. Always available to consult and assist in the upkeep of your clients’ or listings’ pools for showings.

Email: cj@manasotapoolpros.com

9024 Town Center Parkway Lakewood Ranch, FL 34202 Phone Number: 941-907-3828 Representative: Lou Marinaccio Specialty: Full-Service Lakewood Ranch & Sarasota Insurance Agency. MGA Insurance Group has been serving Lakewood Ranch, Sarasota and Bradenton, Florida with a complete line of business and personal insurance solutions since 1990. Whether you are an individual, employer, association or independent contractor, MGA Insurance Group has an insurance solution to meet your needs and fit your budget. Call today and speak with a licensed insurance professional! We look forward to assisting you with all of your insurance needs Email: lmarinaccio@mga-insurance.com

Print and Ink

North American Title Company

11061 Gatewood Drive Ste 102 Bradenton, FL 34211 Phone Number: 941-748-5484 Representative: Kristi Service Specialty: The Service Firm, a sister company of CornerStone Title, offers results-driven experience, clear and timely communication and a highly personalized service approach to get short sales approved. The Service Firm increases the productivity of its loyal group of Realtor clients by being a reliable short sale resource that empowers them to leverage their time, eliminate frustrations and better serve their clients.

The Service Firm simplifies the short sale process for buyers, sellers and Realtors by eliminating barriers to get to a decision point in the shortest time possible under the most favorable conditions for all parties.

Email: Kristi@TheServiceFirm.com

551 N. Cattlemen Road Ste 100 Sarasota, FL 34232 Phone Number: 941-378-4279 Representative: Debbie Love Specialty: We’ve got what it takes to get things done and we’re better equipped than ever. North American Title Company is among the largest real estate settlement service providers in the United States. Consisting of both agent and underwriter operations, we are here to help you close whatever your real estate transaction may be. Whether you are a consumer purchasing, selling or refinancing a home, a REALTOR®, a builder, a commercial investor or a lender, we can service your needs. We do it with skilled underwriters, seasoned attorneys and the resources and stability of a Fortune 500 parent company. For service that operates Like Clockwork®, head our way.

Email: dlove@nat.com www.sarasotarealtors.com

4114 S. Tamiami Trail Sarasota, FL 34231 Phone Number: 941-308-7131 Representative: David Scanlan Specialty: Print & Ink is Sarasota’s one stop shop for all your print, ink, and toner needs. We offer a large selection of affordable, environmentally conscious ink and toner up to 50% off chain store prices. P&I also provides high quality ink refill, utilizing state of the art technology, that allows us to fill over 140 cartridges for up to 80% off retail prices. All Printing Services including Banners, Posters, and Canvas Email: davidscanlan@phoenix-ink.com

The Service Firm, Inc.

Sarasota Realtor® Magazine

JANUARY 2012

31

E DUCATION & E VENTS C ALENDAR Tuesday

2 SAR Closed (New Years Holiday)

3

9

16

Wednesday

Thursday

Friday

4

5

6

10

11

12

13

17

18

19

20

23

24

25

26

8 a.m.

Power Marketing (SAR) 5:30 p.m.

RE License Course

9 a.m.

CID Commercial Marketplace

30

31

Feb. 1

2

3

9 a.m.

New Member Orientation 1:30 p.m.

Code of Ethics

9 a.m.

Basic MLXchange 1:30 p.m.

Entering & Updating

9 a.m.

GRI Course 1 CMA 1:30 p.m.

Design Web Page

8 a.m.

GRI Course 1

7:30 a.m.

Toastmasters 9 a.m.

True Lux Seminar Basic MLXchange 1:30 p.m.

Entering & Updating 9 a.m.

Advanced MLXchange 1:30 p.m. iMapp

8:30 a.m.

CID General Membership 5 p.m.

Affiliate Networking (Gecko’s)

8 a.m.

GRI Course 1

8 a.m.

GRI Course 1 5:30 p.m.

RE License Course

9 a.m.

Waterfront Due Diligence Seminar

8 a.m.

Power Marketing (University Park CC)

8 a.m.

Power Marketing (SAR)

7:30 a.m.

8 a.m.

Toastmasters Power Marketing 12 p.m.

(SAR) Realtor®-Attorney Seminar: Turf Wars vs.

Team Play

8 a.m.

GRI Course 1

7:30 a.m.

Toastmasters 8 a.m.

GRI Course 1

8 a.m.

Power Marketing (University Park CC)

9 a.m.

CID Commercial Marketplace

9 a.m.

CID Commercial Marketplace

9 a.m.

CID Commercial Marketplace (offsite)

27

9 a.m.

CID Commercial Marketplace

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

My Florida Regional MLS Training

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

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

Monday

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

JANUARY 2012

16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 Nov‐10 Dec‐10

Jan‐11

Feb‐11 Mar‐11 Apr‐11 May‐11 Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Sep‐11

Oct‐11

Nov‐11

Single Family

Days on Market

Condo

300 250 200 150 100 50 0 Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Single Family

Sales Volume

Condo

$180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 Nov‐10 Dec‐10 Jan‐11 Feb‐11 Mar‐11 Apr‐11 May‐11 Jun‐11

Jul‐11 Aug‐11 Sep‐11 Oct‐11 Nov‐11 Single Family Condo

New Listings 1,000 900 800 700 600 500 400 300 200 100 0

Sarasota Association of Realtors® MLS

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

The Xtra Pages - Digital Version Only

Single Family Condo

Months of Inventory

Third Quarter 2011 Report Single Family Sales ‐ By Quarter

REO

Short

Arm's Length

1200 1000 800 600 400 200 0 2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

* Homebuyer Tax Credit In Effect

2010‐Q4

Condo Sales ‐ By Quarter

2011‐Q1

REO

2011‐Q2

Short

2011‐Q3

Arm's Length

600 500 400 300 200 100 0 2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

* Homebuyer Tax Credit In Effect

Single Family Median Sale Price

2010‐Q4

REO

2011‐Q1

Short

2011‐Q2

2011‐Q3

Arm's Length

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

2010‐Q1

2010‐Q2

2010‐Q3

Condo Median Sale Price

2010‐Q4

REO

2011‐Q1

Short

2011‐Q2

2011‐Q3

Arm's Length

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

Source: Sarasota Association of Realtors®

$100,000 $50,000 $0 2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

Single Family Condo

REO Sales ‐ By Quarter 600 500 400 300 200 100 0 2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2 2010‐Q3 2010‐Q4 * Homebuyer Tax Credit In Effect

2009‐Q3

2009‐Q4

2010‐Q1

2011‐Q3

Condo

400 350 300 250 200 150 100 50 0 2009‐Q2

2011‐Q2

Single Family

Short Sales ‐ By Quarter

2009‐Q1

2011‐Q1

2010‐Q2 2010‐Q3 2010‐Q4 * Homebuyer Tax Credit In Effect

Arm's Length Sales ‐ By Quarter

2011‐Q1

2011‐Q2

2011‐Q3

Single Family Condo

1200 1000 800 600 400 200 0 2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

* Homebuyer Tax Credit In Effect

Source: Sarasota Association of Realtors®

Annual Sales ‐ 2000 to 2010 Single Family Single Family

Condo

Total

11267 10562 9697 8167 7603

7,596 7036

6533

6,841

6 504 6,504

6358

5,603

6739 6042

5,183

4,940 4,353

4,349 3,193 2,184

3 721 3,721

3 671 3,671

2,564

2,096

5820

2,005

4,626 3,922 ,

2,137

2,120 1,194

2000

2001

2002

2003

2004

2005

2006

5,466

2007

2008

1,556

2009

2010

Annual Median Sale Price ‐ 2000 to 2010 Condo

Single Family

$351,000

$342,000

$272,500 $305,000

$226,000 $172,500

$132,300

2000

$303,000

$210,000 $163,000

$230,000

$191,000

$142,000

$320,000

$301,225

$225,000

$191,000

$336,250

$173,000 $160,000

$145,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$163,000

2010