Sarasota Realtor Magazine - June 2011

JUNE 2011

Find the Key See Page 6

Finding the right home is easy

when you know where to look.

Ask about our 2011 REALTOR® incentive program!

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your clients want, right where they want to be.

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first look at their next home.

From the high $100s / 1,392-2,611 sq. ft.

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And with six DiVosta communities throughout Florida, your clients’ biggest challenge is to discover which one is just right for them. Come visit us soon. Your clients might be taking the

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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. 5/11

ORA STA

If you’re ready to stop dreaming,

we’re ready to start building.

Ask about our 2011 REALTOR® incentive program!

STONEHAVEN SARASOTA FROM THE $100s

• 1,036-1,993 sq. ft • 2-3 Bedroom Condos with Garage • Convenient Location, Gated Entry and Neighborhood Pool

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VENETIAN FALLS

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VENICE FROM THE $170s

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• 1,448-2,165 sq. ft.

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Like many people, your clients might think a new home is out of reach. But we’ll guide them through the homebuilding process, taking the worry out of every step. So if your clients are ready to stop dreaming about a home, we’re ready to build them one. Centex. Put yourself in a better place™

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• 2- 4 Bedroom Carriage Homes and Single Family Homes • Clubhouse, Golf Course, Beach Club and More

centex.com | 866.290.9091

ND TO 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. CBC057850 ©2011 Centex Homes. All rights reserved. 5/11

Contents

Sarasota Realtor® Magazine Volume 8, Issue 6 JUNE 2011

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

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Lifetime Learning

Real estate professionals require ongoing education to stay ahead of the curve and remain useful and helpful to clients in our ever-changing industry.

We salute our members who have contributed $99 or more to the RPAC fund, and we encourage everyone who has not participated to consider joining this important effort.

Secretary Dave Swenson EXIT Creative Realty Treasurer Roger Piro Town & Country Realty Immediate Past President Erick Shumway RE/MAX Alliance Group

12 No Laughing Matter

President Michael Bruno Prudential Palms Realty President-Elect Laura Benson Michael Saunders & Company

10 $99 Club

2011 SAR Officers

While there are some humorous stories associated with improperly benefiting from the Homstead Exemption, it really isn’t a laughing matter.

15 Spring Surge

April 2011 sales statistics in the Sarasota market saw continued

strength, and the inventory of available properties dropped to a fresh six-year low.!

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.

Volume 8 • Issue 6 •JUNE 2011

Editorial Staff

18 Keep It Going

The commercial real estate market recovery seems to be continuing, and CID President Anthony Homer asks the question - which sector has improved the most in 2011?

Production Coastal Printing, Inc.

12- Property Appraiser

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

15- Sales and Listing Statistics 18- Commercial Investment Division

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.

20- Education Programs 24- On the SAR Scene 27- RAJC Corner 28- WCR 30- Membership

JUNE 2011

Director of Information Technology Jesse Sunday

Governmental Affairs Director Marc Mansfield

10- Governmental Affairs

29- Global Business Council

Director of Membership and Administrative Services Dan Andrews

Director of Professional Development Catherine McCaskill

In every issue

32- Calendar of Events/Education 4

Director of Communications Ray Porter

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

Sarasota Realtor® Magazine

Editorial ideas and manuscripts are welcome. Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing.

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

www.sarasotarealtors.com

Learn about CASE at membership meeting SAR and Sarasota WCR will hold a joint Membership Meeting on Friday, June 3rd at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Road. Lunch and Networking is at noon, with the Call to Order at 12:20 p.m. Register at www. sarasotarealtors.com. The cost is $13.50 per person.

The meeting will feature a keynote address by Scott Pinkerton, a financial adviser with Wells Fargo and a founding member of CASE. After the successful campaign to pass the 1-mill school tax extension in 2010, many of the volunteers who worked for its successful passage decided to stay involved. They formed CASE - Citizens for Academic Success and Excellence.

Pinkerton will update SAR and WCR members on the group’s current goals and activities.

Meeting highlights will include recognition of: - Florida Realtors® Honor Society members - Members who have qualified for NAR Emeritus Status - SAR Scholarship winners - Emerging Leaders - RPAC awards - The Habitat for Humanity Project

KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy

Jami Wright: SAR Affiliate of the Month for June 2011 Jami Wright of Medallion Home is the SAR Affiliate of the Month for June 2011.

Jami has been a freelance graphic designer for over 25 years. She specializes in print and photography and over the years has designed and produced logos, ads, brochures, magazines, books, signage, labels and just about every other printed item.

Jami began working with Medallion Home in early September on creative projects which encompass the overall creative and public Jami Wright relations effort, including graphic design, PR and event planning. This led to her taking on the role of broker liaison for the company.

Jami’s graphic design and advertising background lends a unique advantage in her position as broker liaison in that she is able to conceptualize, design and produce the promotional materials that she uses to communicate and network with Realtors®/Brokers. Medallion Home is located at 2212 58th Ave. East in Bradenton, and can be reached at 941-359-9000.

Their web site is www.medallionhome.com .

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

Staying Ahead

In real estate, success begins with education

e

Editor’s Note: Catherine McCaskill started her career with a 5-year stint as Continuing Education Director at Florida State University College of Law. Then, after 10 years as Director of Education for the Greater Orlando Association of Realtors, she spent five years with Florida Realtors first as Director of Education, and then as Director of Communications in Florida Realtors’ Public Policy office in Tallahassee. She has been at SAR for six years as Director of Professional Development.

By Catherine MacCaskill SAR Director of Professional Development

There is no hard-and-fast rule that guarantees that the more professional designations you earn, the more money you make.

Most successful people in real estate are goaloriented, persevering, self-motivated, ambitious and people-oriented. But over the 23 years that I have been Director of Education for various Realtor® associations, including the Florida Realtors®, I have seen a distinct correlation between a the level of success and level of professional education.

Helping people buy and sell homes, office buildings, industrial property and corporation farmland, property management, land development, mortgage banking, urban planning, real estate counseling, appraisal and research are all aspects of a career in real estate and none of these areas are simple or easy to master.

Education is a must!

The more complex real estate transactions become, the more the agent needs education. When you factor in the acceleration in technology development, just keeping up with technology alone has become a challenge.

A recent seminar at SAR discussed whether to use a smartphone or a tablet PC, and the relative benefits of using iPhone and iPad, or Android products. How long have these products been around? Not very long, yet we are seeing them quickly integrated into the agent’s toolbox.

Local broker Xena Vallone, a member of the Professional Development Committee, recently spent a day volunteering as a monitor for the GRI course taught at SAR. She brought with her a smart phone, a tablet AND a laptop computer so she could keep up with her customers and clients and never miss a beat. On a recent weekend vacation in the Georgia

6

JUNE 2011

mountains, Xena was able to have two contracts executed via “the cloud” while participating in family activities.

Real estate transactions are moving targets, too. I can remember in the early 90’s when the first wave of buyer’s brokers came along. What an uproar! “Not representing the seller? You must be joking!” Then came a painful number of years untangling real estate agency relationships under Florida law, resulting in endless seminars on how to “transition to transaction broker” and so forth. Education made all the difference.

I also distinctly remember the first time I heard the term “short sale” and it was not that long ago. The Professional Development Committee was having a meeting and SAR board member Dave Swenson used the term in describing a transaction in North Port. I can’t count the number of seminars we have had since then on the subject, and they are always sold out.

The market dynamics often dictate our educational offerings.

New education delivery methods—webinars, online and distance learning, live streaming over the web—make it easier for an agent to work education into their busy schedules. Classroom delivery still offers the benefit of networking with your peers and the opportunity to meet some great instructors who are usually very willing to keep in touch afterward and provide support.

Sarasota agents, in my opinion, generally value and strive for professional development. There is always something new to learn, so I look forward to seeing you at SAR soon.

Education remains the key In the fast-paced, ever-changing world of real estate, there is perhaps nothing more important than ongoing, consistent education. If the last few years have taught us anything, it is that simple lesson.

Who would have thought only a few short years ago that short sales and foreclosures would represent between a third and a half of monthly sales in the Sarasota region? Who understood all of the complexities and complications involved in the bank-owned property arena then? Who was familiar with the negotiations and ramifications involved in selling a home with a value that had dropped below the original purchase price?

Sarasota Realtor® Magazine

Continued on P. 22, See EDUCATION

www.sarasotarealtors.com

Last year’s SAR Technology Expo was just one of many highly successful and very well attended educational events put on by the association. Education is one of the primary focuses of SAR, and helps keep our members successful and at the cutting edge of the ever-evolving real estate profession.

Focus on training helps Realtors® succeed Realtors® have focused more on training to help them better meet the needs of clients in a housing market with unique challenges, according to findings from the 2011 National Association of Realtors® (NAR) Member Profile.

Realtors® account for more than half of the approximately 2 million active real estate licensees in the U.S. The typical member of NAR has 12 years of experience; nine out of 10 are certain they will remain in the business.

NAR President Ron Phipps says the survey shows strong growth in professional training.

“Realtors® bring value to homebuyers, sellers and investors with their experience and expertise, and 35 percent currently hold at least one out of six certifications in specialized training,” says Phipps. “That is up from 24 percent in 2010 and 16 percent in 2009. The most popular area of training for NAR members, driven by the large share of distressed homes on the market, is the Short Sales and Foreclosures Resource

www.sarasotarealtors.com

Certification, held by 21 percent of Realtors, up from 12 percent in 2009.”

The second most popular Realtor® certification is e-Pro, held by 11 percent of members, followed by REPA (Real Estate Professional Assistant), at 5 percent.

Paul Bishop, NAR vice president of research, says more NAR members are also completing classwork to qualify for designations.

“Thirty-six percent of Realtors® have obtained at least one professional designation, up from 34 percent in 2010,” he noted The most popular designation is GRI (Graduate Realtor® Institute), held by 21 percent of respondents; ABR (Accredited Buyer Representative), 13 percent; CRS (Certified Residential Specialist), 10 percent; and Seniors Real Estate Specialist (SRES), 6 percent. Smaller shares hold one of 13 other designations.

Sarasota Realtor® Magazine

JUNE 2011

7

2011 NAR Member Profile released

According to findings from the 2011 National Association of Realtors® (NAR) Member Profile, the market has been tough for many Realtors®, with the median income declining 4.5 percent to $34,100 last year, following a 3 percent decline in 2009. Members licensed as brokers earned a median of $48,700 in 2010, while sales agents earned $24,900.

NAR members in the business for two years or less earned a median of $8,900, while those in the business for 16 years or more earned $47,100. Sixteen percent earned a six-figure income, reflecting the entrepreneurial aspect of Realtor® businesses.

Fourteen percent of Realtors® work fewer than 20 hours per week, 30 percent work 20 to 39 hours per week, 41 percent work 40 to 59 hours and 15 percent work 60 hours per week or more.

Realtors’® median household income, which includes business income, any secondary income and spousal or partner income, was $91,700, which is above the national median of $50,000.

Members said the most important factor keeping potential clients from completing a transaction was difficulty in obtaining a mortgage, cited by one-third of respondents.

“This underscores the importance of mortgage availability to creditworthy homebuyers, and the need to return to the safe, sensible underwriting standards that were in place before irresponsible lending led to the boom and bust cycle,” says NAR President Ron Phipps. “As we reform lending policies, it’s important to not throw the baby out with the bath water.

The problem isn’t with responsible homebuyers making low downpayments – (it’s) the consequences of risky mortgages that should never have been introduced to the market.”

The survey shows the typical NAR member is 56 years old and works 40 hours per week; 57 percent are women, who account for 50 percent of brokers and 63 percent of sales agents. Three percent of all Realtors® are under 30 years of age and another 4 percent are 30 to 34 years old; 22 percent are 65 or over.

Most members (57 percent) are sales agents; 28 percent are brokers, 17 percent broker associates, 4 percent appraisers and 1 percent other (some hold more than one license). Eleven percent of members have one personal assistant, while 3 percent have two or more personal assistants.

There are two sides to every real estate transaction – one each for the seller and the buyer. Among Realtor® members, the median number of transaction sides handled in 2010 was eight, equivalent to four full transactions, up from seven transaction sides in 2009.

Sixty-eight percent of Realtors® are compensated through a split commission arrangement, 18 percent receive all of the commission and another 3 percent receive a commission plus a share of profits; 11 percent received some other form of compensation. Eight out of 10 members work as independent contractors for their firms. Three out of four Realtors® receive 8

JUNE 2011

no fringe benefits, although 20 percent are covered by errors and omissions insurance; only 5 percent receive health insurance.

Seventy-eight percent of NAR members focus on residential sales and 72 percent have secondary real estate specialties.

Sixteen percent also offer commercial brokerage, 14 percent relocation services, 14 percent commercial property management, 9 percent counseling and 8 percent land development. Smaller percentages were also in residential property management, residential appraisal, international, auction or commercial appraisal.

Residential brokerage was listed as a secondary business for 10 percent of respondents who have other primary specialties.

One-third of respondents belong to one or more of NAR’s affiliated institutes, societies or councils; the most common is CRS (Council of Residential Specialists), identified by 12 percent.

Only 6 percent of members report real estate is their first career; most bring expertise and experience from a wide range of other fields. Previous full-time careers include management, business or financial, 19 percent; sales or retail, 16 percent; office or administrative support, 9 percent; and education, 7 percent. Twelve other categories were each 5 percent or less; 14 percent were other.

Realtors® use technology daily or nearly every day – it’s key to their success: 92 percent use e-mail, 90 percent use computers, and 72 percent use smart phones with wireless e-mail and Internet capabilities. Less frequently used technologies include GPS devices, instant messaging, digital cameras and PDAs without phone capability.

Sixty-two percent of NAR members have a personal website, operational for a median of 6 years, and nine out of 10 report their firm has a web presence. Half of the respondents use social or professional networking sites and 10 percent have a blog.

The median-sized firm has 29 licensees with one office, the same as in 2009. Four out of 10 members are affiliated with an independent, non-franchised firm, 33 percent with a franchised subsidiary of a national or regional corporation, 21 percent are with an independent franchised company, and 5 percent with a non-franchised subsidiary of a national or regional corporation. Respondents have typically been with their firm for five years. Eleven percent of Realtors® report their firm was bought by or merged with another during the past two years.

Ninety-one percent of Realtors® own their personal home.

In addition, they often invest in real estate and own other homes in addition to their primary residence – 43 percent own at least one investment property and 16 percent own at least one vacation home. In addition, 10 percent own at least one commercial property. The study can be ordered by calling 800-874-6500, or at www.realtor.org.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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Gardening Tips

• Cultivate Clients

• Dig the Dirt on our Plots of Land

Get to the root of what makes a Medallion Home unique... from quality construction to semi-custom design, we have a bouquet of fresh floor plans with enough variety to appeal to all of your clients.

• Tour our Neighborhoods

Walk the models. Talk to our New Home Sales Specialists. Collect a Gold Medallion worth $500 at each neighborhood.*

• Sow Seeds

by showing your clients the Garden of Medallion and watch your Bonus Bloom.

• Water your Garden

by keeping in touch. Look for texts and emails with special pricing/offers on inventory homes.

• Harvest your Profits

by selling any new Medallion Inventory Home in the month of April. Redeem your Gold Medallions for up to $5000 bonus per sale, in addition to your commission.*

• Reap Additional Profit

Continue collecting Gold Medallions to redeem during the fall harvest.

• Drawing for Backyard Makeover

Visit six Medallion neighborhoods by June 31, 2011 to qualify. Winner receives a Garden Center Shopping Spree worth $2500. To participate, pick up our Home and Garden Almanac and have a Sales Associate stamp your Garden Plot as you visit each location. (Available at SAR meetings or at any Medallion neighborhood. * Medallion Home Gold Coins have no cash value until the

closing of a Medallion Home. Must present coins at time of

registration. No more than 10 Medallions ($5000 value) may be redeemed per any Medallion inventory home sold up to June 30, 2011. Not valid with any other promotion.

www.medallionhome.com • 2212 58th Ave East • Bradenton • 941-359-9000

4% Commission paid on existing inventory homes contracted and closed no later than June 30, 2011.

In the event that home does not close by June 30, 2011, then standard commission of 3% will be paid.

Governmental Affairs

LWRC

10

SAR salutes $99 Club RPAC Contributors

s

By Marc Mansfield Governmental Affairs Director

SAR salutes $99 Club RPAC Contributors for 2011 SAR asks members to voluntarily support RPAC by contributing $99 or more each year to help support RPAC activities on local, state and national levels.

The SAR members shown below contributed $99 for 2011. The Major Donors are noted by a * next to their red names and will be featured in another magazine later this summer.

On behalf of the SAR Board of Directors and the RPAC Committee we salute our $99 Club Contributors!

For information on how you can become an RPAC $99 Club member please contact RPAC Committee Chair Greg Sheller at greg@gregsheller.com or Marc Mansfield at marc@ sarasotarealtors.com

Craig Abbott Steve Abbott Elaine Adair Scott Albert Sania Allen Rose Alstrom Margaret Amador Robert Anderson George Appel Judy Arreola Maria Atkins Vicki Babiarz Len Baggerman Pamala Bailey Steven Bailey Barbara Baseman Deborah Beacham Maria Beck Charles Beeler Laura Benson Deborah Bill Debora Blomster Anita Boakes Grace Bonaccorso Philippe Brice Deke Brinkman JUNE 2011

Christina Brooks Michael Bruno * Laura Brunson Sharon Byrd Saint Cacchiotti Cynthia Calisch Matthew Cannon William Carroll Paula Cashi Tamara Cashi Bernadette Caswell Richard Cavanaugh Craig Cerreta Gabriele Charity Pamela Charron Adam Chicoine Georgina Clamage David Clapp James Claydon Jerry Clevenger Michael A Cochrane Gary Coker Mary Conklin Tania Corredor Michelle Crabtree Peter Crowley Rebecca Culp Tamara Currey Shirley Dabringhaus Leon DeLieto Jr Terri Derr David Drewett

Nathan Dunham Steven Dutoit Joey Eash Jane Ebury Donna Elmore Lanny Emery Samuel Erb Judy Falkenthal Thomas Ferraro Nicholas Figlow Milton Flinn, Jr. Jennifer Flanders Pearl Florand Cindy Foster Darla Furst Gregory Galford Donna Garriques William Geller Heather Germond Charles Geweye Jo Ellen Gibson Fred Gibson Emma Gilbert Roni-Marie Gold Susan Goldstein Jason Grande Karen Grant Judy Green David Groom II Patricia Guenther Bryan Guentner Cynthia Guttman

Sarasota Realtor速 Magazine

Walter Hackett Barbara Hackett Andrew Haddad Pamela Hagan Jeanne Hamill Madeline Hardie Kathleen Hart Marni Hayden Teresa Hayes Terri Healey Bernice Hebda Charlotte Hedge Karl Helbig Evelyn Hellstrom Joe Hembree Joe Hembree Daniel Hering Ellen Heritage Jason Hochstetler Chip Hogan Anna Holt Anthony Homer Maureen Horn Kenneth Hoskinson Jr Janet Huff Angelo Ingorvaia Ann Jiganti, Karen Johnston Deborah Judge Barbara Katz

Cont. on P. 25, See RPAC www.sarasotarealtors.com

LWRC-202 June SAR spotlight_Layout 1 5/18/11 4:45 PM Page 1

LAKEWOOD RANCH SPOTLIGHT

LETTER FROM Milt Flinn LWR Communities’ President April 2011 was a great month for sales in Lakewood Ranch.

Between our 17 builders there were 49 new home sales and more than 1000 people visited our information centers and models.

This is turning out to be one of our busiest years for residential sales in a long time and we can see that people realize this is the perfect time to buy a new home. We want to invite everyone to come out and see our more than 40 new home models on the ranch and visit our new communities now open in Country Club East. You’ll see we are putting a wall up on Lorraine Road on the border of the Belleisle neighborhood in Country Club East and we will continue that wall south of Players Avenue over the next few months.

If you haven’t visited The Lake Club in a while, things are changing and progressing quickly in that neighborhood as well. We have several

new models under construction and slated for completion by this year’s Tour of Homes in November, and pricing is better than ever. For more information about all of our models check out www.lakewoodranch.com

Go to www.lakewoodranch.com or call 941.404.2905 to learn more!

Play tag! Learn how at: lakewoodranch.com

NEW MODEL DEBUTS IN THE LAKE CLUB

by Westwater Construction For the first time in several years, a new showcase home is open in The Lake Club. Westwater Construction now has a beautiful 3600 square foot home for visitors to browse through. This new model is a must-see— offering a new unique and luxurious style blended with intimate personal spaces. There’s even a mini putting green and fire-pit area. Keep watching over the next few months when 5 more models open up in a new section in The Lake Club, called the Vineyards.

To learn more about The Lake Club or other neighborhood locations in Lakewood Ranch call 941.404.2905. Models are open daily. Free tours available.

THE PREMIER SPORTS CAMPUS

is up and running and scoring goals

More than 4000 spectators and athletes came out for the inaugural event at the Premier Sports Campus on April 30-May 1. The Florida Youth Soccer Association tournament brought in 64 teams from around the state to compete. Local vendors set up a food and beverage “village” and the campus was hopping with activity all weekend long. Look for more tournaments and tryouts for the soccer academy coming up soon. Be sure to keep track of all the sports events at

www.premiersportscampus.com.

F E AT U R E D B U I L D E R Westwater Construction Westwater Construction, Inc. is a fully versatile construction firm specializing in complete "turnkey" construction, construction management, and design-build.

With decades of experience in commercial, institutional, recreational, and residential construction, Westwater Construction is able to focus most efficiently on the client's goals and objectives, however varied.

Specialization, attention to detail, and the long-term commitment implicit in both of these, are the hallmarks of Westwater Construction.

The combined experience of our team members is widely diverse, substantially solid, and decidedly impressive.

OVER 40 MODELS Open Daily Lakewood Ranch Information Centers and Model Hours: Mon.-Sat. 10 a.m.–5:30 p.m.

Sunday, Noon –5 p.m. www.lakewoodranch.com 941.907.6000

Property Appraiser

HOMESTEAD TAX LIENS: Not a laughing matter but…

No laughing matter?

When we find a property owner who has been improperly benefiting from the homestead or other exemptions for any year in the prior 10 years our office must

By Bill Furst, GRI, CRS, CRB Wonder why? take steps to collect the taxes due, plus 15 per cent interest and a 50 percent Sarasota County Confusion is not limited penalty. The property owner has 30 days to pay before the lien is recorded. to out-of-state candidates.

Property Appraiser

A notorious former elected When we find a property owner Over the past three years the liens filed by the Sarasota County Property official was found to be who has been improperly benefiting Appraiser’s office have generated over $1,200,000 in revenue. Nearly 60% of receiving a homestead from the homestead or other recovered taxes, penalties and interest have gone to the School Board. In 2010 exemption on her home while exemptions for any year in the prior her husband received an alone, the School Board received over a quarter of a million dollars from paid 10 years our office must take steps to exemption in a home titled in , over $132,000 has been collected for 2011. collect the taxes due, plus st15 per cent homestead tax liens. As of March 31 his name. When caught, the interest and a 50 percent penalty. The

husband promptly and quietly property owner has 30 days to pay Of course, notifying property owners that they owe back taxes is never a pleasant paid the homestead lien on his before the lien is recorded. experience but there are situations where we have to scratch our heads and, property.

Over the past three years the liens sometimes, laugh out loud.

THE CASE OF THE filed by the Sarasota County Property

MISSING PARENT: Appraiser’s office have generated over THE CASE OF THE CONFUSED CANDIDATE: $1,200,000 in revenue. Nearly 60% of In 2007 we received In 2008 we received a telephone call from an upstate New York newspaper asking recovered taxes, penalties and interest a tip that a person, who us to verify whether or not a candidate for City Council was claiming a Florida have gone to the School Board. In happened to be an attorney, homestead exemption. Turns out he was; but not for long. We removed his 2010 alone, the School Board received was “bragging” around the exemption, collected back taxes, penalties and interest and, to add insult to injury, over a quarter of a million dollars from condominium pool that he he lost the election! He has not reapplied for homestead in Sarasota. paid homestead tax liens. As of March was getting a homestead on

31st, over $132,000 has been collected the unit he inherited even for 2011.

In 2010 we received a call from a newspaper in Rhode Island. Seems a person was though he was a resident of another state. Turns out Mom claiming a homestead exemption here and running for state‐wide office there.

Of course, notifying property had claimed the exemption Mail had been returned to us but, when questioned by our staff, the property owners that they owe back taxes is on the unit for years. Too bad never a pleasant experience but there owner assured us, in writing, that his Rhode Island property was a “vacation for the loudmouth that our are situations where we have to scratch home.” Apparently not! The candidate had gone to the trouble of posting his investigation revealed Mom our heads and, sometimes, laugh out federal income tax returns on his campaign website to show, according to a quote, had passed away in 2001. loud. how open and honest he was about his finances. That made our job of calculating When we called the son in THE CASE OF THE CONFUSED back taxes for prior years pretty easy. He paid up right away but he too lost the 2007 he said his parents were CANDIDATE: election. Wonder why? currently staying with him. In In 2008 we received a telephone

what way, shape or form we call from an upstate New York don’t want to know. This lien Confusion is not limited to out‐of‐state candidates. A notorious former elected newspaper asking us to verify whether was finally paid off in 2011. official was found to be receiving a homestead exemption on her home while her or not a candidate for City Council husband received an exemption in a home titled in his name. When caught, the In 2008 the Post Office was claiming a Florida homestead returned a homestead receipt husband promptly and quietly paid the homestead lien on his property. exemption. Turns out he was; but not card to us indicating a

for long. We removed his exemption, forwarding address in another THE CASE OF THE MISSING PARENT: collected back taxes, penalties and state. When we called and In 2007 we received a tip that a person, who happened to be an attorney, was interest and, to add insult to injury, he spoke to the owner there he “bragging” around the condominium pool that he was getting a homestead on the lost the election! He has not reapplied said his mother was “visiting” for homestead in Sarasota. unit he inherited even though he was a resident of another state. Turns out Mom him and would be returning had claimed the exemption on the unit for years. Too bad for the loudmouth that In 2010 we received a call from a to Sarasota soon. We’re not our investigation revealed Mom had passed away in 2001. When we called the son newspaper in Rhode Island. Seems sure how she was going to a person was claiming a homestead in 2007 he said his parents were currently staying with him. In what way, shape or accomplish that. She also died exemption here and running for in 2001! He ended up selling form we don’t want to know. This lien was finally paid off in 2011. state-wide office there. Mail had been the property and paying off the

returned to us but, when questioned lien.

In 2008 the Post Office returned a homestead receipt card to us indicating a by our staff, the property owner You probably don’t want forwarding address in another state. When we called and spoke to the owner there assured us, in writing, that his Rhode to know the number of times he said his mother was “visiting” him and would be returning to Sarasota soon.

Island property was a “vacation home.” the guilty party says their We’re not sure how she was going to accomplish that. She also died in 2001! He Apparently not! The candidate had Realtor® told them it was OK. gone to the trouble of posting his For more ended up selling the property and paying off the lien.

It happens. When in doubt

federal income tax returns on his information, call us. As we’ve said before campaign website to show, according contact theYou probably don’t want to know the number of times the guilty party says their in these pages, if somebody is to a quote, how open and honest he Property Realtor told them it was OK. It happens. When in doubt call us. As we’ve said committing homestead fraud was about his finances. That made Appraiser’sbefore in these pages, if somebody is committing homestead fraud we will catch office we will catch them. And we our job of calculating back taxes for them. And we will, from time to time, have a chuckle or two along the way. at 941.861.8200. will, from time to time, have a prior years pretty easy. He paid up right away but he too lost the election. chuckle or two along the way.

12

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JUNE 2011

Sarasota Realtor® Magazine

Statutes and Rules governing Homestead Tax Liens

§196.011 Florida Statutes: If the

Property Appraiser determines that for any year within the prior 10 years an owner was not entitled to receive an exemption, the owner is subject to the taxes exempted as a result of such failure plus 15 percent interest per annum and a penalty of 50 percent of the taxes exempted. The property appraiser shall record a notice of tax lien in the public records. If the person no longer owns the property but owns property in some other county or counties in the state the lien shall be recorded against that property.

§196.161 Florida Statutes: If the estate of a person who claimed homestead in this state for any year within the past 10 years is probated or administered in another state the property appraiser will file a lien against the property.

Upon determination that for any year or years within the prior10 years a person who was not entitled to a homestead exemption was granted an exemption it shall be the duty of the property appraiser to serve upon the owner a notice of intent to record a lien in the public record against any real property owned by that person.

Chapter 12D‐8.0064 Florida Administrative Code: When the property appraiser determines that a person who was not entitled to the homestead exemption for any year or years within the prior 10 years the property appraiser shall record a tax lien for the amount of unpaid taxes plus a penalty of 50% and 15 percent interest on the unpaid taxes.

NEED A SPEAKER FOR YOUR MEETING? BILL FURST WILL COME AND TALK WITH YOUR GROUP AND ANSWER YOUR QUESTIONS.

To set an appointment call our office at 941.861.8200 or email us at PA@SC‐ PA.com.

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

6%

Commission CluB* Who AlreAdy QuAlifies for 6% Commission?

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

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

hoW CAn you QuAlify?

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

AddItIonAl ProgrAm elements

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

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

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

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239-598-2370

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

Pricing and availability subject to change without notice. All references to clubs, membership opportunities and other amenities are subject to fees, dues and availability. Void where prohibited. ©2011 WCI Communities, Inc. All rights reserved. CGC 058796

Federal role vital to mortgage markets

By Robert Freedman Senior Editor REALTOR® Magazine

with private lenders. History reminds us, however, that the federal government plays an important role in regulating lenders and ensuring the smooth flow of capital. In tough economic times, private financing may simply choose to exit the market. The government also protects borrowers from predatory lending practices. One of the lessons of the mortgage market meltdown is that banking regulators weren’t doing enough to rein in bad lending practices.

NAR suggests that we can increase home sales by preserving the MID and maintaining government backing in the mortgage market. Some may say these things are more about maintaining the status quo. How will they drive up sales?

Phipps: The real estate market is underperforming by 20 percent. We’re at the level of home sales seen in 2000— yet we have 30 million more people living in the United States today. A federal commitment to maintaining the MID and government backing would bring certainty to buyers and investors, a necessary first step to closing that 20 percent performance gap.

Why should the federal government even have a role in housing?

Phipps: The ideal marketplace is one in which home buyers transact business

How do Fannie Mae and Freddie Mac fit into our mortgage system?

Phipps: The government-sponsored enterprises have traditionally played two important roles. By purchasing mortgage loans and securitizing the loans for sale to investors, they’ve enabled lenders to have ready capital to make more loans for home purchases. Second, by setting underwriting standards, Fannie Mae and Freddie Mac have helped ensure the quality of the collateral for investors and created a level playing field for consumers.

But some say Fannie Mae and Freddie Mac “standards” were one of the main causes of the mortgage meltdown.

Phipps: Almost all investigations have agreed that the GSEs were only one factor in a systemwide breakdown. It

Congress is in the midst of a fundamental debate about the federal government’s role in the residential mortgage finance system. On the table are some of the most basic forms of assistance to home buyers and the real estate industry, including the mortgage interest deduction and the government’s backing of conventional mortgage securities through Fannie Mae and Freddie Mac. Against this backdrop, National Association of Realtors® President Ron Phipps has invited Realtors® to share their support of and their concerns about NAR’s longstanding position in favor of a continuing federal presence in mortgage finance.

Here, Phipps explains why NAR takes the position it does on this very timely topic.

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Sarasota Realtor® Magazine

was the private-label securitization of bad loans—and the packaging of those securities into “tranches” whose risks to investors were not accurately rated— that led the way to the crisis.

So why is NAR speaking out in support of the GSEs? Phipps: To be clear, NAR does not believe that Fannie Mae and Freddie Mac should be reconstituted as they were before the crisis. The public mission of the entities—to ensure the flow of mortgage capital—cannot exist alongside a private profit motive. More than a year ago, an NAR working group released a set of principles for reforming the GSEs into governmentchartered, nonshareholder owned authorities subject to strong regulation.

Why do we need a secondary mortgage market? Why not let the private market take the risk?

Phipps: Without a secondary mortgage market, private lenders would likely do away with the 30-year fixed-rate mortgage because of the interest-rate risk to lenders and investors. The market would be primarily shorter-term and adjustablerate mortgages, which put the risk on the borrowers instead of large institutions like insurance companies and pension funds.

Why is it so important to protect the 30-year fixed-rate mortgage?

Phipps: It has provided generations of Americans with a chance to own real estate and build wealth over time. In the 1930s, NAR fought for the creation of a secondary mortgage market that helped usher in this safe, affordable form of financing, and it’s why we’re fighting for reforms today.

www.sarasotarealtors.com

a

April sales and prices continue strong spring for local real estate market

a

A total of 759 property sales were closed in the Sarasota real estate market in April 2011, continuing a strong spring surge that reached the 800 level in March. The recent sales rush has taken the market to the highest levels since the fall of 2005 when sales started to decline. Prices also maintained their highest levels of the year in April 2011 for both single family homes and condos, and the available property inventory dropped to 5,258, a big drop from last month’s level of 5,501, and less than a third of the available properties on the market during the 2004-2006 real estate boom.

“We are glad to see the continuing strength of the market in 2011,” said SAR President Michael Bruno. “It’s especially encouraging to note that condominium median price hit $185,500 for April, despite about a third of the sales as distressed properties. The normal arm’s length median sales price hit $272,000 for condos, which means buyers definitely see added value in these non-distressed properties.”

The April statistics even compare favorably to April 2010, when the $8,000 federal homebuyer tax credit initiative fueled last year’s surge. The tax credit drove up spring sales last year, but this year’s numbers are strong simply on the basis of

“The market continues to trend in the right direction, and there has been very little fluctuation in the strong numbers.”

- SAR President Michael Bruno the market’s wealth of quality homes and condos. Buyers are finding tremendous values at all price ranges and are making offers.

Single family home sales stood at 533 for April 2011, roughly the same as last April (529). Condo sales were at 226, also about the same as last April (228). Median sales prices for single family homes was at $155,430, slightly lower than last month ($159,250) and last year ($165,000) at this time. For condominiums, the median sale price hit $185,500 in April, up from $173,000 last month, but about 4 percent lower than last year’s April figure of $193,175.

Distressed property sales represented only 36 percent of the overall market, down from 43 percent in March and 47 percent February. The downward trend is encouraging, said Bruno, and will hopefully continue into the summer and fall.

Pending sales dropped to 959 after climbing to 1,208 in March. April was the first month this year that pendings fell below the 1,000 level, likely reflecting the annual trek north

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by our winter residents. Pending sales are properties going under contract during the month, and the statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity.

Last April, pending sales stood at 1,160, but that figure was pushed upward by the approaching April 2010 deadline for the homebuyer tax credits. This year’s upward trend is being fueled by buyers of all sorts – investors, second-home buyers, and those who realize that today’s lower home prices coupled with low interest rates present buyers with an opportunity not seen in years.

The drop to the lowest inventory level in six years (5,258) could mean additional upward pressure on sales prices moving forward. Last year at this time, 6,160 properties were available, and the drop in inventory coupled with the continued strong level of sales has meant a drop in the months of inventory to 6.2 months for single family homes and 8.6 months for condos.

The 6 month level is traditionally a point which represents the beginning of a seller’s market, when buyers begin to compete for available properties and drive up prices. Only 27 months ago, in January 2009, there were 25.3 months of inventory for single family homes and 38.4 months of condo inventory.

“The market continues to trend in the right direction, and there has been very little fluctuation in the strong numbers,” explained Bruno. “Even without the federal tax credit, Sarasota is emerging as a market leader. It’s very encouraging to hear from our brokers and agents that they are experiencing strong foot traffic at open houses, and closings are moving forward.”

Sarasota Realtor® Magazine

JUNE 2011

15

Sarasota MLSSM Statistics - April 2011 Single Family Condo

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

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Apr‐10 May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10 Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐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

3,321

533

16.0

169

$155,430

$158,000

6.2

687

20.7

512

166

This Month Last Year

3,891

529

13.6

175

$165,000

$163,800

7.3

816

21.0

920

224

3,486

580

16.6

183

$159,250

$159,950

6.0

889

25.5

523

176

‐

2,020

‐

176

$149,900

‐

‐

3,060

‐

2,408

‐

Oct 95.2 ‐

Nov 94.8 ‐

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 ‐

Jun 95.3 ‐

Jul 94.7 ‐

Aug 95.2 ‐

Sept 94.6 ‐

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

Source: Sarasota Association of Realtors® 16

JUNE 2011

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - April 2011 Single Family Condo

Inventory 5,000 4,000 3,000 2,000 1,000 0 Apr‐10 May‐10 Jun‐10

Jul‐10

Aug‐10 Sep‐10

Oct‐10 Nov‐10 Dec‐10

Jan‐11

Feb‐11 Mar‐11 Apr‐11

Single Family Condo

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

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐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

1,937

226

11.7

230

$185,500

$160,000

8.6

272

14.0

224

197

2,269

228

10.0

203

$193,175

$192,000

9.9

344

15.2

354

212

2,015

220

10.9

195

$173,000

$160,000

9.2

319

15.8

280

212

‐

821

‐

211

$165,000

‐

‐

1,043

‐

1,150

‐

Oct 94.3 ‐

Nov 94.5 ‐

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 ‐

Jun 93.7 ‐

Jul 94.2 ‐

Aug 93.5 ‐

Sept 93.2 ‐

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

Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

JUNE 2011

17

And here is the fineprint. The sectors are Apartments, Industrial, Office and Retail. The measuring stick is going to be the Moodys/REAL Commercial Property Price Index, which you can find out more about at RCAnalytics.com.

The report comes out on July 20th, and the results will be compiled using data through May 31st. We will publish the winner along with their pick and the reasoning behind it in the September edition.

The winner will also win fame and fortune by being recognized at our monthly CID program. Send your picks to ahomer@lwrcommercial.com no later than June 15th.

Be sure to include your name, and the sector you’re picking along with an anticipated rate of return! In case of a tie, (which I’m sure will happen) we will use the anticipated rate of return as the tie-breaker. (Hint: returns are typically between 1-2%) Good luck!

By Anthony Homer CID President

As we’re nearing the mid-point of the year, our commercial market continues to reflect the strengthening residential environment. The MIT Center for Real Estate graph shows just how dramatic that “dip” was and while prices are not changing, the deal volume continues to gain steam.

As I’ve mentioned in the last few articles, multifamily properties continue to do well and even the Oracle of Omaha has been profiting from that trend. Berkshire became a 50 per cent owner in late 2009 of Berkadia Commercial Mortgage LLC, formerly part of Capmark Financial Group Inc. Since then, they have seen improving conditions in the financing of multifamily properties. Interestingly, though, he also sees strength in shopping malls as retailers are getting back into the market with adjusted price points and new lines to deal with commodity prices.

All Properties − National Index Locally, our retail prices 2.00 remain virtually unchanged, with office numbers staying 1.90 constant as well. As our MFCRE system continues to 1.80 compile data, the numbers 1.70 keep getting more and 1.60 more reliable. If you haven’t familiarized yourself with 1.50 them, take 20 minutes to educate yourself, it makes 1.40 a huge difference in listing 1.30 appointments. ������������������ ������������������ Now here’s the challenge 1.20 for all of our commercial 1.10 brokers (and wannabe Warren Buffets) out there: 1.00 [PICK THE SECTOR 0.90 THAT MADE THE MOST IMPROVEMENT BETWEEN JANUARY 1 Month and Year AND MAY 31, 2011] MIT Center for Real Estate − http://mit.edu/cre

Jan 2001 Apr 2001 Jul 2001 Oct 2001 Jan 2002 Apr 2002 Jul 2002 Oct 2002 Jan 2003 Apr 2003 Jul 2003 Oct 2003 Jan 2004 Apr 2004 Jul 2004 Oct 2004 Jan 2005 Apr 2005 Jul 2005 Oct 2005 Jan 2006 Apr 2006 Jul 2006 Oct 2006 Jan 2007 Apr 2007 Jul 2007 Oct 2007 Jan 2008 Apr 2008 Jul 2008 Oct 2008 Jan 2009 Apr 2009 Jul 2009 Oct 2009 Jan 2010 Apr 2010 Jul 2010 Oct 2010 Jan 2011

CID (Commercial Investment Division)

Keeping the recovery going

Real Capital Analytics (RCA) − http://www.rcanalytics.com

2011 CID Officers & Directors Officers:

Directors:

President: Anthony Homer, LWR Commercial President-Elect: Brad Lindberg, Hembree & Associates Vice-President: Linda Emery, Michael Saunders & Co. Secretary: Diane Lee, Wagner Realty Treasurer: Tim Mapp, Mapp Realty Past President: Lee DeLieto, Jr., Michael Saunders & Co. 18

JUNE 2011

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

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Commercial real estate profits off prescription drugs?

By Brad Lindberg CID President-Elect

Like many of us who are multigenerational Sarasotans, I am blessed to have both of my parents around to visit and occasionally care for. I am blessed that they are independent and vibrant and they don’t act like they are in their late eighties.

Although my parents are very healthy, they occasionally get sick. I often run to the store, pick up dinner, take them to the doctor and pick up prescriptions. It was picking up the prescriptions that generated the theme for this essay.

The other day, my mother asked me to pick-up her prescriptions if it wasn’t out of my way. She told me that it was at the CVS and would be ready after 5 p.m. Simple enough, as I was already on my way home from the office and I was somewhat familiar with the location of that particular drug store.

Most drug stores are strategically located at major intersections for convenience So I pull into the location, knowing it was a drug store and proceded to the drive through lane.

The drive through had numerous cars waiting, allowing me to return some necessary phone calls while I waited.

As I crept to the window, I realized that getting prescriptions is as easy as getting a check cashed or a Big Mac and fries.

After many minutes of waiting, I finally made it to the “teller” window and requested my mother’s order to

pickup.

After numerous inquiries from the clerk who couldn’t find the prescription, I informed the clerk that my mother specifically told me that she called it in to this particular CVS. The clerk graciously thanked me for visiting “WALGREENS” and guided me to the opposite corner of the intersection, cautioning me not to confuse it with the ECKERD’S on the other corner.

What happened to all the banks on every corner? Banks have disappeared and are now in gas stations, bars and grocery stores.

Drug stores have now replaced banks

and gas stations. Drug stores are in grocery stores and department stores and on every corner. Drug store leases are now a popular investment in the commercial real estate market and can be a great source of stable income for the investor.

So, when you hear on the evening news that drugs are being sold on every corner, just drive around Sarasota and you will see what they are talking about.

Yes, you could say WE HAVE A PRESCRIPTION DRUG PROBLEM IN SARASOTA, and the investment community is embracing it and making lots of money off of it!

CID slates meetings for June 2011

CID General Membership Meeting - Off Site - Tuesday, June 21st, 8:30 a.m. – 4440 Fruitville Rd. (the former Photo Tech Building), just east of McIintosh Rd. on the south side Commercial Marketplace Sessions - Friday, June 3rd, 9 a.m. – SAR Auditorium - Friday, June 10th, 9 a.m. – SAR Auditorium - Friday, June 17th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, June 24th, 9 a.m. – SAR Auditorium

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Sarasota Realtor® Magazine

JUNE 2011

19

Education Programs

Learn about HAFA and HAMP Title: What You Need to Know about HAFA & HAMP Date: June 8, 1 to 2 p.m.

Instructor: Anne Weintraub, Esq., Band Weintraub P.L. Free to SAR Members, $10 others Attorney Anne L. Weintraub, a shareholder attorney with Band Weintraub P.L., will present a one-hour

overview of the Obama administration’s loan modification program (HAMP) and its short sale program (HAFA).

Because these programs are a bit confusing, Anne has designed a simple outline tailored to Realtors® to clear up any confusion about the programs and illustrate how they can be used to assist the Realtor® and their customer with short tales.

RAJC continues informative luncheon sessions in June Title: Protecting Your Commission Date: June 15, Noon to 1:30 p.m.

Instructor: Sylvia Golden Norris, Esq. Cost: Free to SAR & SCBA Members; $10 others Entitlement to a commission is determined by the cooperating broker’s performance as procuring cause of the sale. There is no hard-and-fast rule that determines procuring cause, as every transaction is unique. That’s why we are bringing this seminar to you, so you can protect your commission from unforeseen lapses in

the chain of events leading to a commission, such as abandonment or estrangement. Other issues will also be covered.

Sarasota attorney Sylvia Golden Norris will be here to bring us up to speed on this potentially troublesome topic. Kim Gilliland will provide the Realtor® perspective. Bring your own lunch! Snacks and beverages will be provided. This is one of a series of noontime seminars sponsored by the Realtor® Attorney Joint Committee.

How do environmental issues impact real estate?

Title: Endangered Species, Wetlands and Your Transaction: What Every Realtor® Should Know About Environmental Issues in Real Estate Date: June 22, 9 a.m. to Noon 3 Hours CE Credit Instructor: Linda Olsen Cost: SAR members, $25; others $30 (after June 16, add $5) Don’t miss your chance to: • Learn about environmental issues that can cause a transaction to fall apart • Learn to better advise Buyers and Sellers of how environmental concerns can affect a real estate transaction

20

JUNE 2011

• Learn how environmental concerns can affect the bottom line on the value of the property • Learn how to help Buyers & Sellers to get the most $/value from a property that has environmental concerns.

About the instructor: Linda Olsen graduated from Michigan State University with a BS degree in Wildlife Management and then from the University of Florida with an MS in Wildlife Ecology. She spent the first 20+ years of her working career as an environmental consultant for several different companies in Central Florida. She started a second career 5+ years ago as a commercial real estate agent, and currently specializes in all non-residential property types, especially vacant land throughout Brevard County.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Earn NAR Designations in 2011 with local courses GRI 3 - July 25-27 and Aug. 2-3 Cost - Realtors® $265 to July 11; $290 after

Hot off the presses and all fresh material!

Even if you have taken GRI 3 before, this is the latest updated information on the following subjects and will help you develop your career and give you a taste for these specialty areas: • Brokerage Management • Common Ownership • Exchanging • International Real Estate • Land, Environment & Private Property Rights • Property Management The GRI designation indicates to buyers, sellers and other real estate industry professionals that you have made the commitment to provide a high level of professional service to you clients by securing a strong educational foundation. You will start implementing what you learn immediately!

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

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

SRES (Seniors Real Estate Specialist) - Oct. 11-12 Cost - SAR Member, $199; Others, $229

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

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Sarasota Realtor® Magazine

JUNE 2011

21

EDUCATION From Page 6

At SAR, education courses and seminars have been the key for our members to stay abreast of all the new information, programs, laws, regulations, contract nuances, Realtor® duties and obligations, rumors, tips, guidelines, and everything else associated with the real estate world.

SAR has been at the forefront of the rapidly evolving education terrain. Over the past few years, hundreds of our members have attended classes and seminars on short sales and foreclosures. The information has come from some of the best educators, both nationally and locally, in the profession.

There has been a consistent effort to seek out the best, most pertinent and useful materials and resources to help our members not only survive the difficult climate, but thrive during these tough times.

Education is obviously highly valued in Sarasota.

Our current GRI enrollment is as high or higher than Associations twice our size. For example, Pinellas Suncoast (St. Petersburg) with 6,000 members last year cancelled their GRI 2 course, and this year didn’t have a single GRI course.

SAR graduated 36 students in our GRI 2 class this year.

I have over 20 years in Realtor® education with various associations and in my opinion SAR members, compared to many other associations, are particularly well-educated.

SAR also has the highest percentage of GRI designees in the state. And, it’s interesting to note, SAR also boasts a very high number of Certified International Property Specialist (CIPS) designees. We have over 30 CIPS designees – worldwide, there are less than 1,000, with only 700 in the entire U.S. In the past few years, Realtors® have been serving on a variety of SAR committees that quickly identify hot issues and schedule seminars to deal with those issues. For example, the Realtor®-Attorney Joint Committee has been very active presenting seminars dealing with short sale, foreclosure and bankruptcy developments.

Over the past two years, the Professional Development Committee has coordinated a number of technology seminars and is planning a second world-class Tech Expo in the fall.

Education remains at the forefront of SAR communications efforts. Several pages in each monthly magazine (including this one) are devoted to education courses. The back page always contains the monthly calendar, which is filled with educational opportunities.

The SAR web site offers an entire education section, with additional links on the front page of the site and easy online registration for most classes and seminars. Weekly email updates normally include links to the web site’s educational events as well. Videos have also contained promotions for educational events.

As we emerge from difficult economic times, the classes are continuing to attracct large crowds of our members who want specific help and guidance for their business. The educators are hand-picked and evaluated (or well known) by staff, and give our members the best advice and latest information on a variety of topics.

SAR begins promoting most classes several weeks in advance through our Constant Contact email system, the web site, email blasts and videos. Flyers are placed strategically throughout our facility, with details on the classes and seminars. We hope we reach all of our members in as many ways as possible.

See P. 20-23 in every magazine for the Education section, and remember - Education is vital!

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

CONGRATULATIONS!

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Dedication and hard work pay off!! We congratulate our members who have successfully completed designation courses throughout the year.

Sarasota’s Premier Real Estate Printer

Watch this spot in the magazine next month for the names of your colleagues and friends!

1730 Independence Blvd., Sarasota, FL 34234 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com

JUNE 2011

Sarasota Realtor® Magazine

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MLXchange helps your business run smoother 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 June 6, June 20, 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 June 6, June 20, 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 have specific entries in the Rules and www.sarasotarealtors.com

Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listings MLXchange Advanced June 15, 9 a.m. to Noon Take MLXchange to the next level!

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

- Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order - Edit favorite reports, personalize home page resource link, setting defaults Design Web Pages, Capture Leads June 15, 1:30 to 3:30 p.m.

One of the most crucial components in today’s real estate professional’s day-today business is capturing and handling leads along with time management.

This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go handin-hand with a successful real estate business.

- Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders Sarasota Realtor® Magazine

- Plans manager, copying and modifying the action plan - Emailing the client private webpage - Customizing email templates Creating a Professional CMA June 22, 9 a.m. to Noon This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default iMapp - Interactive Tax and Mailing Labels June 22, 1:30 to 3:30 p.m.

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

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

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On the SAR Scene

Affiliates, Realtors速 gather for networking

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

Photos by Jesse Sunday Rose Brasgalla, Laura Benson and Doug MacKenzie at the April 26th Affiliate Business After Hours Networking event at The Loft Ristobar.

Phil Chmieleski, Tami Cashi and SAR President Michael Bruno at the April 26th Affiliate Business After Hours Networking event at The Loft Ristobar.

Top, Liz Klements, Jo An Koontz and Debra Nelson at the April 26th Affiliate Business After Hours Networking event at The Loft Ristobar. At left, Peter Salefsky, SAR CEO Kathy Roberts and C.J. Coury at the same event.

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Sarasota Realtor速 Magazine

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Nominating committee submits 2012 slate

The SAR Nominating Committee, chaired by Bill Geller, has submitted Officer and Director nominees for the 2012 Board of Directors.

The committee selected the following slate for the election to be held at the SAR Annual Meeting on Friday, Sept.

16 beginning at noon at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Street, Sarasota.

Officers: President - Laura Benson, Michael Saunders & Company President-Elect - Roger Piro, Town and Country Treasurer - Peter Crowley, RE/MAX Alliance Group Secretary - Stafford Starcher, RE/ MAX Alliance Group Directors to serve a 3-year term (expiring Dec. 31, 2014): Michael Davenport, King Realty; Joe C.

RPAC

From Page 10 Thomas Kelley Marc Kelly Brian Kennelly Ken Kiesewetter Daniel Kijner Joan Koplin Dennis Kotaska Ingrid Kozak Karl Kummer Preston Larus Harold Lasky John Latino Robert Laws Slavisa Lekic Sue Levin Stacy Liljeberg Judy Limekiller Christopher Lind Bradford Lindberg Ethel Lovelace Charlotte Lynn Marlene Manning Timothy Mapp Carl March Martha Marlar Wanda Martinetto Sandra Maslen www.sarasotarealtors.com

Hembree, Hembree & Associates; Debbie Judge, Michael Saunders & Company; Kristin Triolo, Atchley International; and Amy Worth-Paul, RE/MAX Alliance Group.

Directors to serve a 2-year term (expiring Dec. 31, 2013): Bob Milhoan, Hembree & Associates; and Bob Stanley, Coldwell Banker.

Members may submit additional nominations by petition signed by at least 20 SAR Realtor® members.

The petition must be filed with the Association by 5:00 p.m. on Wednesday, June 15.

According to the Bylaws, Director candidates must be a Realtor® member of SAR for at least two years immediately prior to election, and must have served on an SAR committee prior to election.

Information about the candidates

Rudolf Masopust Susan Matteoli Diane McIntosh Dick McLaughlin Marcia McLaughlin Barbara Mei Susan Miller Cary Mitchel Bradford Monroe Nancy Moore Kathryn Moscone Michael Moulton James Moynihan Pat Mudgett Jay Murphy Barbara Najmy Deborah Nelson Ronald Newmark Maryline O’Dea Don Padgett Linda Page Daniel Page Sheldon Paley Bruce Paquette Roger Pettingell Roger Piro Christina Pitchford James Portman Felix Power Eileen Prisco

Michael Prisco Sally Rackey Robert Rauscher Martyn Reece Jane Rees Thomas Reutter Jefferson Riddell Bill Riley Kathy Roberts * Steven Ross Ann Ross Drew Russell James Ryan Kathleen Sachs Peter Salefsky Michael Saunders Shannon Schmidt Judy Schomaker * Stephanie Shaw Greg Sheller * Erick Shumway Richard Simpson Jody Skapyak Mary Smedley * Kathleen Smith Annette Smith Jim Soda Stafford Starcher Linda Starcher Laura Stavola

Sarasota Realtor® Magazine

will appear in the July issue of the magazine. If petitions are received for eligible candidates, the election will be held by ballot just prior to the Annual Meeting. Otherwise, the election will be held by voice vote at the Annual Meeting in September.

Current SAR President Michael Bruno, Prudential Palms, will continue on the Board as Immediate Past President.

Directors whose terms continue in 2012 are: Adam Chicoine, Michael Saunders & Company; David Clapp, RE/MAX Alliance Group; Bryan Guentner, RE/MAX Platinum; Anthony Homer, Lakewood Ranch Commercial Realty; Christina Pitchford, Allen Real Estate; Carla Rayman, Prudential Palms Realty; Drayton Saunders, Michael Saunders & Company; and Mary Smedley, Prudential Palms Realty.

Victoria Stultz Kirsten Suss Linda Swartz David Swenson Vicki Swenson Linda Thompson Clark Toole * Gene Tway Kathleen Ucci Brendra Uihlein Andrew Vac Tony Veldkamp Jim Vitale Fernando Viteri Iwona Wajszczak Angela Walker Adrienne Ward Gloria Waters Tom Waters Samuel Watkins Barry Weaver Gregory Weinstein J Ruediger Weiss Christopher Wetzig David White Linda Witt E. Gail Wittig Suzanne Wolverton Stephen Wooster Michael Yawitz JUNE 2011

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Making A Difference

SAR promotes community volunteerism Editor’s Note: Each month we feature members who are making a positive difference in our community. If you or someone you know (an SAR member) is involved in a charitable, community or civic-minded organization, or simply does individual acts of goodness or charity within the community, please let us know. Call or email Ray Porter at 328-1168 - email ray@sarasotarealtors. com, and we could feature the story in a future issue of the magazine.

Christina Pitchford: SAR 2010 Humanitarian of the Year, Christina Pitchford of Allen Real Estate, won special recognition last month from the Keep Sarasota Beautiful organization for her sponsorship of the annual Coastal Clean-Up event.

Christina also helped organize Realtors® and Affiliate members of SAR as volunteers for the annual cleanup which included five local parks and beaches. Maintaining our area’s beautiful but fragile environment is a major lifetime effort for Christina, one of the founding members of the Green Realtors® Alliance of Sarasota.

Christina Pitchford Also a member of Selby Gardens, Christina keeps current on a wide assortment of environmental topics, and hopes to continue encouraging her fellow SAR members to help protect our area’s natural resources through sustainable development and practices.

For more information about Keep Sarasota Beautiful, visit www.scgov.net/EnvironmentalServices/ KeepSarasotaBeautiful

Sally Rackey: The Paws for Patriots program at Southeastern Guide Dogs holds a special place in the heart of Sally Rackey of RE/MAX Platinum Realty.

Sally has helped raise thousands of dollars for the program that provides seeing eye dogs for visually impaired service personnel, many of whom lost their sight while defending our freedom overseas.

Sally introduced the program to SAR members last year during an April 2010 Power Marketing session, along with Lieutenant Col. Kathy Champion, a wounded warrior who survived seven explosions, harsh sandstorms, severe Sally Rackey living conditions and the loss of five soldiers in her Civil Affairs Unit in Iraq. She returned home, surviving these numerous traumas only to lose her sight to a chronic viral infection that impaired her optic nerves.

Through the Paws for Patriots program, Lt. Col. Champion was provided with Angel, a guide dog that has become her constant companion.

After hearing her story, Sally was compelled to bring the program to the attention of SAR members. The positive results have been heartwarming for all involved.

You can find out more about Southeastern Guide Dogs and the Paws for Patriots program at www.,guidedogs.org.

Sally Rackey and Christina Pitchford are just two examples of hundreds of community-minded SAR members. Tell us your story!

Habitat for Humanity project continues The SAR Habitat for Humanity home rehabilitation project heated up in May and continues into the summer at 2478 Huffton Circle in Kensington Woods.

Three work dates have now been held and two more are planned this month - June 4th and June 18th. Watch for announcements in your emails and on the web site to see how you can volunteer!

The homeowner - Teresa Dixon (a school bus driver in Sarasota) and her teen children, Casey 26

JUNE 2011

and Joshua - are working side by side with SAR members and other Habitat volunteers to complete the home rehabilitation. Teresa and her family will then sign a Habitat zero-interest mortgage and assume ownership.

This is a great opportunity for SAR members to help Make A Difference! Sign up at www. sarasotahabitat.com See all SAR volunteer activities at www. sarasotarealtors.com/volunteers

Sarasota Realtor® Magazine

www.sarasotarealtors.com

h

h

Here are five ways to improve your brokerage in less

than an hour: 1. Use e-signatures. Services like DocuSign and Sertifi help you save time and streamline your processes by allowing clients to sign contracts by e-mail. Brandon Green, GRI, principal broker for Keller William Capital Properties in Washington, D.C., pays $25 to $35 per month for DocuSign. Green logs in, uploads a contract onto the secure Web site, and then tags where he needs his client’s signatures. An e-mail is sent to his clients, who log into the Web site to give their consent.

(DocuSign is a REALTOR Benefits® partner, providing discounts for NAR members. If you use ZipLogix forms, DocuSign is already integrated.)

2. Add social media contacts to marketing materials. Include your social media contacts on every marketing piece you send, suggests Kelly O’Ryan, manager at Coldwell Banker in Lexington, Mass. Why? Advertising is good, but social ­media allows you to be the star of your own reality show—and tell your own story—for free.

3. Ask each sales associate to blog about a listing.

“Get every one of your sales associates to start blogging about their properties because that exposure doesn’t

cost any money,” says Margaret Rome, broker-owner at HomeRome Realty in Baltimore. But don’t bother to blog unless you have something beyond the property description to talk about. “Tie the property to a great local restaurant or talk about how far it is from the airport,” Rome says.

4. Add your company to Google Places. If you’ve searched Google for an address or type of business (like “real estate in Broward County”), you’ve probably seen a map pop up pinpointing businesses that fit the bill. That’s Google Places. “It’s free and it’ll help your company show up in more searches,” says Adam Kruse, broker at The Hermann London Group in Maplewood, Mo. Kruse can’t say how many leads he’s received from Google Places, but he has strong evidence they’re coming in: “People call and say, ‘Is this St. Louis Real Estate?’”

5. Take a lender to lunch. “Most brokers don’t give them the time of day,” says Daniel J. Beirne, GRI, ZipRealty’s broker of record for Pennsylvania, New Jersey, and Delaware, in Bala Cynwyd, Pa. But a lender might have valuable information about your competitors, such as plans to open an office or launch an affiliated business.

Broker Corner

Improve your business in less than an hour

Good advice: Make it all about the buyers

By Wendy Cole Realtor® Magazine Online Mike Crowley has been a successful real estate professional for 18 years. But since 1997—the year he opened his own brokerage in Spokane, Wash.—he hasn’t put up a single yard sign, held an open house, or done a listing presentation.

You might assume he just decided to focus on the management side of business. But, in fact, he made a carefully considered decision to exclusively represent buyers. And he has never looked back. “I’ve been able to show that you don’t need listings to last in the business,” says Crowley, broker-owner of Spokane Home Buyers.

In an era of dodgy real estate markets, it might seem foolhardy for any broker or practitioner to limit his or her business opportunities by shunning listings—long considered the meat and potatoes of any successful brokerage.

However, a dedicated cadre of residential brokers contend that embracing exclusive buyer representation makes for a happier, less complicated professional path.

“The buying experience, compared with selling, is far more positive for the people involved,” says Crowley, who also serves as president of the National Association of Exclusive Buyer Agents. “­Sellers often are there because

www.sarasotarealtors.com

of something difficult that happened like bankruptcy or divorce, and when a place doesn’t sell after a month they’re unhappy about having to lower the price. The relationship can get worse as time goes on.”

Avoiding Risks of Dual Agency Exclusive buyer’s agents practice single ­agency, which helps to keep the client relationship clean and simple.

Because 31 states now allow for transaction brokers who work for clients without a written agency agreement, exclusive buyers’ agents say their approach offers greater legal protection to brokers and clients. While dual agency is a widely accepted ­practice—and it poses no ethical dilemmas as long as it’s fully disclosed in advance of any transaction—some practitioners say they’d rather steer clear of any perceived conflicts of interest by working for companies that represent only buyers.

“We recognize there is less liability in single agency,” says John Rygiol, ABR, CRS, of Buyer’s Broker in Seal Beach, Calif.

Rygiol has been an exclusive buyer’s agent for more than 20 years—well before it was a professionally recognized niche. He was one of the 11 founding members of NAEBA, which launched in 1995. The group has mushroomed to 500 members, about 300 of whom are brokers.

Sarasota Realtor® Magazine

JUNE 2011

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WCR builds on mentorship

By Cindi Jackson WCR President

Throughout our real estate careers, we encountered many individuals who influence and change us personally and professionally. I call these individuals my mentors. A mentor is a person who leaves a living legacy behind in the form of people who have benefited from the mentor’s life experiences. I have had many mentors woven in my real estate career, but I can single out some special mentors such as Sis Silverman, Eileen Lyle, Don Sams, Amy Worth and especially my broker, Jean Underwood.

There are several qualities that make a good mentor, i.e., patience and understanding, listening skills, a willingness to give more than receive, an ability to engage in a potentially long-term relationship and respect. A mentor’s focus should be to motivate, support, guide and develop a willing individual to realize their own potential.

The mentor’s own professional values, personal integrity and ethical conduct should form the basis of the mentoring relationship. The mentor’s goal is to provide guidance, support, and understanding by sharing experience, knowledge, and wisdom to help an individual achieve their potential.

The mentor benefits from helping to build an individual’s confidence, and the mentor is enriched by sharing their knowledge, expertise and influence, and seeing an individual develop.

As a Women’s Council of Realtors® member, I have met numerous mentors that are motivated professionals who know that you’re never too experienced to learn something new, or too successful to provide some sound advice. That’s the heart of our support system – talented Realtors® in our market and around the country who are there to cheer you on, lend an ear when you need one and ask for a little of your wisdom as well. You’ll find our members interacting on Facebook and Twitter as well. It all starts now, at the Women’s Council of Realtors®. We invite you to join us at our next business resource meeting. We are Ready – so get to know us!

For membership information, please contact Mary Hellhake, V.P. of Membership, at 941-544-0763.

Upcoming WCR Business Resource Meetings Friday, June 3rd, 11:30 a.m.

Joint Meeting with SAR (Quarterly Membership Meeting), Troyer’s Dutch Heritage Restaurant Thursday, June 9th, 11 a.m. Joint Meeting with Manatee WCR, “Honoring Our Past Presidents” Lakewood Ranch Polo Grill Friday, July 8th, 11 a.m. “Developing Your Personal Vision” - Gail Sullivan, Author, Lakewood Ranch Polo Grill 11 a.m.-12 noon Business Networking 12 noon - 1 p.m. Business Resource Meeting - For reservations contact Linda Witt at MZWitt@aol.com - For Business Resource Meeting information contact Leslie Lauritano at leslie.lauritano@regions.com

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

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

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

Marianne LeBar President-Elect Michael Saunders & Company Cell: 941-650-0337

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

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

mariannelebar@michaelsaunders.com 28

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Sarasota Realtor® Magazine

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Title: International 102 Date: June 8, 9 a.m. to Noon Sponsored by the SAR Global Business Council Cost: Free to GBC members (RSVP to Catherine@ sarasotarealtors.com); $10 others Don’t miss this amazing panel of international real estate practitioners. Learn how to market globally to attract international buyers and network with international agents from these countries. Speakers for the International 102 course will be: - Jacques Raymond, Director of Business Development, Keats, Connelly and Associates - Marketing to the Canadian Buyer - Christel Silver, CIPS, Broker/Owner, Silver International Realty, Inc., NAR Liaison to Germany

- Patricia Tan, CIPS, International Sales Director, Prudential Palms Realty, International Division, NAR Liaison to the UK - Zolt Szerencses, CIPS, NAR Liaison to Hungary and Vice-Chair of FR Global Networking Forum Carlos ThurdeKoos, CIPS, NAR Liaison, Argentina If you have any interest in the growing international real estate market, please consider joining the SAR Global Business Council - only $25 per year!

If you have any questions, please contact Kristin Triolo, Chair of the Global Business Council, at Kristin@ KristinTriolo.com or by telephone (941) 725-2486, or Catherine McCaskill at catherine@sarasotarealtors.com.

5th Annual Real Estate Congress planned

Don’t miss the 5th Annual Sarasota International Real Estate Congress, set for Sept. 14-15 at the Hyatt Regency Sarasota, 1000 Boulevard of the Arts, Sarasota, FL. This year’s Congress theme is “It’s Time to Go Global!”

Attendees will be able to - Listen to the experts.

- Explore new techniques, products and services.

- Consider tried and tested approaches.

- Receive tips to build a successful international business!

This year’s Keynote Speaker will be Allan Dalton, Chief Marketing Officer, RISMedia: His address will be entitled “Real Estate’s Universal Language.”

In this fast-paced and actionoriented keynote address, Dalton will convincingly convey what unites consumers and real estate professionals worldwide, both offand on-line. The former CEO of Realtor.com will share proven strategies that will help both agents and brokerages of all sizes to increase market share. www.sarasotarealtors.com

Allan Dalton Other topics will be presented by a diverse group of authoritative international brokers, builders and global marketing experts. These will include: • “The State of Real Estate in Florida” - Panel moderated

by Harold Bubil, Sarasota Herald-Tribune Real Estate Editor Sarasota Realtor® Magazine

• “How International Brands Address the Global Market”Building Your International Network—the Easy Way • “The Role of Technology in Your Global Business” • “Networking Best Practices” • “Panel: International Luxury Home Buyers” • “Panel: Sold! New Approaches to the Global Market” Hotel Information: A block of rooms has been reserved at a special rate for conference attendees at the Hyatt Regency Sarasota. You can call the resort toll-free at 800-233-1234 for reservations. Cutoff date for reservations is August 14.

The rates are: Single or double occupancy: $99 Triple occupancy: $124 Quad occupancy: $149 Ask for the Sarasota Association of Realtors® rate. And please reserve your rooms early!

JUNE 2011

International Real Estate

International 102 course slated June 8

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Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Bailey, Kim: LSI Properties Blakeley, Lisa: Blakeley & Associates Realty Gornnert, Gary: Malone Property Group LLC Leibold, Tom: Gold Coast Property Group LLC Waldman, Martin: Birkholz Appraisal Inc.

New Members

Adair, Robin: RE/MAX Alliance Group Ansilio, Sandi: Keller Williams Lakewood Ranch Bishop, Cynthia: NAI Manasota Davis, J Bradley: Key Realty Desantis, Paul: Michael Saunders & Company Flynn, William: RE/MAX Platinum Realty Ganson, Brittany: Coldwell Banker Res R E Meacock, Helen: Keller Williams On The Water Miante, Marie: London Bay Realty Inc. Moser, Julie: Engel & Voelkers LBK Realty Petz, Timothy: NAI Manasota Pistner, Amy: Sandals Realty of Sarasota Resler, Michelle: Andrews & Associates Realty Rosenfeld, Sacha: Surfside Properties Rozic, Richard: James M Hendrix Broker Sarajew, Nancy: Michael Saunders & Company Schatz, Richard: Beckmann Properties Schmitt, Mary Alice: Allison James Estates & Homes Travnicek, Ivo: Signature Sothebys Internat’l Turner, Kelly: Michael Saunders & Company Wasson, Phillip: Sandals Realty of Sarasota Wexler Rubin, Pamela: Coldwell Banker Res R E

Now With ...

Abraham, Philip: Keller Williams On The Water Adair, Robin: RE/MAX Alliance Group Brighenti, Barbra-Renee: Sandals Realty of Sarasota Dipsiner, Steve: RE/MAX Alliance Group Dunn, Brian: Capital Real Estate Enterprise Dworsky, Susan: Exit Realty Gulf Coast Erickson, Denise: Capital Real Estate Enterprise Ford, Eliot: Exit King Realty Forrest, Sharon: Prudential Palms Realty Jordan, Greg: Exit Realty Signature Prop Keller, Eugenia: Key Realty Laver, Sean: Keller Williams On The Water Malone, Molly: Malone Property Group LLC Martinetto, Wanda: Prudential Lakewood Ranch Rlty Merila, Sylvia: Tarpon Coast Realty Inc. Meyer, Bruce: Michael Saunders & Company Meyer, M Jenine: Michael Saunders & Company Miante, Marie: London Bay Realty Inc. Nelson, Sheila: Atchley International Realty Nordstrom, Per: Signature Sothebys Internat’l Nordstrom, Helena: Signature Sothebys Internat’l Oakes, Kelly: Prudential Lakewood Ranch Rlty Pflueger, Karen: Michael Saunders & Company Rothschild, Irwin: RE/MAX Alliance Group Ryan, Jennifer: Allison James Estates & Homes Sepe, Diana: Prudential Lakewood Ranch Rlty Shepard, Lisa: Atchley International Realty Sulton, Carole: Coldwell Banker 30

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New Affiliates Accurate Home Inspections

864 Tanager Road Venice, FL 34293 Phone Number: 941-586-9154 Representative: Dewey Harris Specialty: Here at Accurate Home Inspections we understand that every aspect of the real estate transaction requires hard work, dedication, and concentration on every detail from everyone involved. An Accurate Home Inspection is a crucial part of the home buying process. At Accurate Home Inspections we believe that there is no substitute for a professional home inspection – one that will ease your mind by accurately and comprehensively detailing both the potential problems and unique design qualities of your property.

Email: accuratehomeinspections1@gmail.com

BB&T Insurance Services

1111 8th Avenue West Bradenton, FL 34205 Phone Number: 941-782-6260 Representative: Jeanette A Scutti Specialty: Clients stay with BB&T Insurance Services because of our emphasis on service. But here are a few reasons why they come to us in the first place: Founded in 1922, A long-standing reputation for integrity, honest dealings, and putting our clients’ interests above our own, Toptier relationships with the world’s leading insurance companies, as well as regional and specialty insurers and a full line of brokerage and risk management products and services for companies of any size.

We’re an integral part of BB&T Corporation, rated one of the safest and soundest financial holding companies in the nation.

Email: jscutti@bbandt.com

Emery Federal

7890 E Kemper Road #220 Cincinnati, OH 45249 Phone Number: 941-586-7680 Representative: Thomas S Zaharakis Specialty: Whether you are applying to purchase a home or refinance your rate of interest, Emery is the best choice you can make for a home mortgage.

Other banks see numbers. We see people. Your home mortgage needs are important to us and we will strive to find the loan product that best suits your individual needs.

Email: tom.z@emeryfed.com

Sarasota Realtor® Magazine

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First Benefits Group Inc

306 N Rhodes Avenue Suite 111 Sarasota, FL 34237 Phone Number: 941-361-3057 Representative: Frances Lane Specialty: We are a Health and Life insurance agency.

We work with Business Owners and Individuals who are Confused, Overwhelmed, and Concerned about Healthcare and Rising Healthcare Costs. We educate our clients on the strategies for insurance planning. We focus on Simplicity and Clarity for Understanding, Managing and Controlling this Complex Issue. We help individuals and business owners navigate the complex and confusing financial information highway. We work with our clients on proven and verifiable strategies that will give the tools needed for the results wanted and the lifestyle desired Email: Flane@firstbenefits.net

Integrity Title Services Inc.

5500 Bee Ridge Rd Ste 102 Sarasota, FL 34233 Phone Number: 941-379-6730 Representative: Nicky Warner Specialty: Integrity Title Services and the Law Offices of Bradley R. Moyer, esq. It is our mission is to be the industry’s leading title company by providing superior customer service. We work one-on-one with our residential and commercial clients to provide: Home Refinance Loan Closings, Signing Agent, Contract Drafting and Review, Real Estate Closings for Purchase and Sale, Title Insurance, Landlord/Tenant Matters, Condominium Developments and Conversions, Florida Real Estate Attorney, Escrow, REO, Foreclosure, Short

Sale, Loss Mitigation, FHA, Closing, Settlement services, Business Sales and Short Sale Negotations.

Email: nicky@integrity-title.com

R L “Bob” Howard G C Inc.

4411 Bee Ridge Road PMB #124 Sarasota, FL 34233 Phone Number: 941-376-5514 Representative: Robert Howard Specialty: Florida State Certified General Contractor #CGC052057. Specializing in Remodeling and Additions to Property. Preliminary Estimate, Build out and Inspections.

Email: boblhoward@aol.com

Synovus Bank

1999 Ringling Blvd Sarasota, FL 34236 Phone Number: 941-524-7897 Representative: Stephen Ackoury Specialty: We are a Full Service Commercial Bank.

Although we belong to one of the strongest and most capable regional banking networks in the U.S., we consider ourselves first and foremost members of this community. That means our customers are not just account numbers or voices on the phone to us. Financial challenges are more complex these days, but we’re ready to give you the personal help and attention you need.

We consider it a privilege to serve our customers. Thank you for your consideration, and we look forward to establishing the BEST banking relationship you have ever had!

Email: stephenackoury@synovusbankfl.com

The latest orientation class for new SAR members was held on May 9th. www.sarasotarealtors.com

Sarasota Realtor® Magazine

JUNE 2011

31

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

JUNE 2011

250 200 150 100

E DUCATION & E VENTS C ALENDAR

50 0

May 30

Tuesday

Wednesday June 1

31

7:30 a.m.

Toastmasters

MEMORIAL DAY SAR CLOSED

6

7

8

13

14

15

9 a.m.

MLXchange Basic 1:30 p.m.

MLXchange Entering & Updating Listings

9 a.m.– 4 p.m.

New Member Orientation & Code of Ethics

9 a.m.

International 102 1 p.m.

HAFA/HAMP Seminar

8:30 a.m.

CID General Membership

Thursday 2

8 a.m.

Power Marketing (University Park CC)

Friday 3

9 a.m.

CID Commercial Marketplace

9

10

16

17

8 a.m.

Power Marketing (SAR)

7:30 a.m.

Toastmasters 9 a.m.

Advanced MLX 12 p.m.

Protecting Your Commissions Seminar 1:30 p.m. Design Web Pages

8 a.m.

Power Marketing (SAR)

9 a.m.

CID Commercial Marketplace

9 a.m.

CID Commercial Marketplace - Off Site

20

21

22

23

8 a.m.

Power Marketing (SAR) 10:00am District 13 Conference (Polo LWR)

9 a.m.

CID Commercial Marketplace

27

28

29

30

July 1

9 a.m.

MLXchange Basic 1:30 p.m.

MLXchange Entering & Updating Listings

12 p.m.

PC’s vs. MAC’s (Young Realtors Event)

9 a.m. iMAPP 1:30 p.m.

Creating a CMA 5 to 7:30 p.m.

Affiliate Networking Gekko’s on Hillview

9 a.m.

Environmental Seminar 9 a.m. iMAPP 1:30 p.m.

Creating a CMA

7:30 a.m.

Toastmasters 9 a.m.

How to Reduce Your Online Risk Seminar

8 a.m.

Power Marketing (SAR)

18 16 14 12 10 8 6 4 2 0

24

9 a.m.

CID Commercial Marketplace

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

My Florida Regional MLS Training

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

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

Condo

250 200 150 100 50 0 Apr‐10 May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

Single Family Condo

New Listings 1,000 900 800 700 600 500 400 300 200 100 0 Apr‐10 May‐10 Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Months of Inventory

18 16 14 12 10 8 6 4 2 0 Apr‐10 May‐10 Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10 Dec‐10

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

Jan‐11

Feb‐11 Mar‐11

Apr‐11

Single Family Condo

Jan‐11

Feb‐11 Mar‐11 Apr‐11 Single Family Condo

Sarasota Association of Realtors® MLS

Apr‐10 May‐10 Jun‐10

Jul‐10 Aug‐10 Sep‐10 Oct‐10 Nov‐10 Dec‐10 Jan‐11 Feb‐11 Mar‐11 Apr‐11

The Xtra Pages - Digital Version Only

Single Family

Days on Market

First Quarter 2011 Report Single Family Sales ‐ By Quarter

REO

Short

Arm's Length

1000 800 600 400 200 0 2008‐Q3

2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

* Homebuyer Tax Credit In Effect

Condo Sales ‐ By Quarter

REO

Short

2011‐Q1

Arm's Length

500 400 300 200 100 0 2008‐Q3

2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

* Homebuyer Tax Credit In Effect

Single Family Median Sale Price

REO

Short

Arm's Length

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2008‐3rdQ

2008‐4thQ

2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

2010‐Q1

Condo Median Sale Price

2010‐Q2

REO

2010‐Q3

Short

2010‐Q4

2011‐Q1

Arm's Length

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

Source: Sarasota Association of Realtors®

$100,000 $50,000 $0 2008‐3rdQ

2008‐4thQ

2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

Single Family Condo

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

2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1 * Homebuyer Tax Credit In Effect Single Family

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0 2008‐Q3

2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

* Homebuyer Tax Credit In Effect

Arm's Length Sales ‐ By Quarter

Single Family Condo

1000 800 600 400 200 0 2008‐Q3

2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

* 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