Sarasota Realtor Magazine - June 2013

JUNE 2013

The Official Monthly Publication of the Sarasota Association of Realtors速

SAR: 90 Years and Counting Pages 3 and 6

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JUNE 2013

The Official Monthly Publication of the Sarasota Association of Realtors速

Contents

Sarasota Realtor® Magazine Volume 10, Issue 6 JUNE 2013

Sarasota Association of Realtors®, Inc.

6

90 Years - and Counting!

Since 1923, SAR has served the Sarasota real estate

2013 SAR Officers

industry and its practitioners, providing education,

professional support, ethics training and much more.

President Roger Piro Town & Country Realty

10 Visit to the Hill

In May, SAR leaders joined thousands of other Realtors®

in Washington, D.C. to meet with national government

representatives and ensure the concerns of real estate are addressed.

12 Tallahassee Report

Sarasota County Property Appraiser Bill Furst details

the activities of the Florida Legislature, and how government

is impacting the local property appraiser’s office - and you.

Volume 10 • Issue 6 •JUNE 2013

Property sales in April 2013 topped 1,000 - the first time

since 2005 that the figure has been reached, and yet another

sign that the hot Sarasota market has legs.

CID President Linda Emery announced in May that NAR

has officially granted Commercial Accreditation to the local

organization - the commercial arm of SAR.

15- Sales and Listing Statistics 18- Commercial Investment Division 20- Education Programs 26- On the SAR Scene 30- Membership 32- Calendar of Events/Education JUNE 2013

Treasurer Stafford Starcher RE/MAX Alliance Group Immediate Past President Laura Benson Michael Saunders & Company

Mission Statement The mission of the Sarasota Association of ® Realtors is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics.

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

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

Editorial Staff Director of Communications Ray Porter

Director of Information Technology Jesse Sunday Director of Professional Development Catherine McCaskill Governmental Affairs Director Marc Mansfield Production Coastal Printing, Inc.

In every issue 12- Property Appraiser

Secretary Xena Vallone Xena Vallone Realty

Director of Membership and Administrative Services Dan Andrews

18 Accreditation!

10- Governmental Affairs

President-Elect Peter Crowley RE/MAX Alliance Group

Chief Executive Officer Kathy Roberts

15 Amazing Market

4

2320 Cattlemen Road Sarasota, Florida 34232 Phone: 941/952-3400 FAX: 941/952-3401 www.sarasotarealtors.com www.facebook.com/SarasotaRealtors

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

ON THE COVER:

The aerial photograph of the Lido Key beachfront, with downtown Sarasota in the background, was shot in 1923. On Page 3, the same shot on May 20th, 2013 - 90 years later - reflects the incredible change over the past nine decades. - 2013 photo provided by Detlev von Kessel Sarasota Realtor® Magazine

Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/952-3407 or ray@sarasotarealtors.com.

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

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

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

2013 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

www.sarasotarealtors.com

SAR Quarterly Meeting Switched to June 28th

Due to a scheduling conflict, the Sarasota Association of Realtors® will now hold the second Quarterly Membership Meeting on Friday, June 28th at 11:30 a.m. at the Der Dutchman Restaurant, 3713 Bahia Vista Street, Sarasota. Cost is $14 for the luncheon.

The special guest speaker will be Francois K. Gregoire, chair of the Francois Gregoire Florida Realtors® Appraisal Council, and a noted expert on real estate appraisals. Licensed in real estate since 1976, Gregoire has also served numerous times on the Florida Real Estate Appraisal Board.

In addition, the Florida Realtors® Honor Society inductees will be recognized, as well as the SAR Scholarship Winners for 2013.

The meeting will be jointly sponsored by the Sarasota Chapter of the Women’s Council of Realtors®, so a large turnout is anticipated. Register now online!

John Pollock: SAR Affiliate of Month

John Pollock of Residential Maintenance Solutions has been named SAR Affiliate of the Month for June 2013.

John has been a resident of Southwest Florida since 1992. He is the Business Development and Project Manager for the Sarasota and Manatee areas of RMS. Residential Maintenance Solutions is a well established handyman and home improvement business with more than 10 years of service in Southwest Florida. They have recently expanded and now include the Sarasota and Manatee county areas.

RMS offers homeowners a John Pollock simple solution to all their maintenance problems.

An active affiliate member of SAR, John can be reached at (941) 584-4545 or by email at jpollock@rms-florida.com . The company website is www.rms-florida.com

KNOW YOUR OPTIONS

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Call 941-366-1300 For A FREE CONSULTATION The hiring of a lawyer is an important decision that should not be based solely upon advertisements.

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

Cover Story 6

SAR

90 Years - and Counting!

History of Sarasota Centers on the Real Estate Industry

S

Since the early days of the 20th century, and trough to water the animals. even back into the 1800s, Sarasota has been a SAR began at the start of perhaps the biggest real land shaped by the hopes and aspirations of estate boom in the region’s history. The original home was a small, 10 by 15 foot office in a commercial newcomers, seeking a home in paradise.

building near the current Five Points Park in 1923, when the Association often held meetings at larger local brokerage offices.

In the 1920s, real estate offices were popping up throughout downtown Sarasota. Known as “binder-boy” salesmen, and usually outfitted in knicker pants, real estate salesmen roamed the land. They were often called “Knickerbocker Army,” scowering for deals in a newly discovered market.

The major firms of the day were: Bacon & Tomlin, C. Roy Kindt Co., Longmire & Williams, C.A. Bird, Brown & Crist and many others. By 1926 there were 40 real estate firms in Sarasota, the largest A.S. Skinner with 66 agents.

Salesmen were drawn to the area like a magnet. As an example of the amazing opportunities, in 1923, 24 The Early Days lots were sold on 9th Street for $66 In 1920, Sarasota was an The SAR charter on the wall in our each. In 1925, eight of those lots idllyic fishing and agricultural new lobby area indicates the year were resold for $45,000 each. Later, village with less than 3,000 1923 as the founding year of the 16 of the lots sold for a combined residents. By the end of Association. $600,000. the decade, the population had tripled, and the town By early 1924, the great land boom became a resort area, with splashy hotels, golf in Sarasota was in full swing. Real estate values were courses, a beachfront casino and numerous housing beginning to skyrocket. Land transactions occurred developments. so quickly that there was not enough time to get an abstract on a lot or parcel of land. Real estate agents To put things in historic perspective - the average began to arrive in Sarasota on a daily basis. Land home cost $7,809; the average car was $265; bread was being platted so fast that the Sarasota Board was 9-cents a loaf; gasoline was 22-cents a gallon; of Realtors® published an atlas of subdivisions so federal spending in 1923 totalled $3.14 billion (that’s potential buyers would know where they were. billion - not trillion); unemployment was only 2.4 percent; the cost of a first class stamp was 2 cents; Buying and selling real estate options and contracts Coca-Cola six-packs were first introduced; Time was running rampant. In 1925, the market peaked at magazine was launched; and the first Yankees baseball $4.7 million in building permits - an unheard of figure game was played at “The House that Ruth Built”. The up to that time. But as the old saying goes - what goes first portable radio was developed that year. The Five up must come down.

Points area in downtown Sarasota still operated a horse In 1923, a few enterprising individuals in the real estate industry decided to form an important partnership, and founded the Sarasota Board of Realtors®, which was later amended to our current name - the Sarasota Association of Realtors®.

The organization has served as a valued and trusted ally of real estate practitioners who took the major steps of becoming licensed in real estate, then joined SAR, the state association and the National Association of Realtors®. These memberships, and the required training in and commitment to the NAR Code of Ethics, makes the indviduals Realtors®, and pledged to follow these important business rules and regulations.

JUNE 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The Depression hit, and the Sarasota area was no longer the place to buy and sell real estate. Those 24 lots on 9th Street? Nothing was ever built on them, and years later when the buyers lost their shirts in the national economic crisis, they were sold for back taxes.

By 1933, the building permit figure that had hit $4.7 million less than a decade earlier had dropped to only $51,880. Dreams were evaporating as wealth diminished, then disappeared altogether. Even the legendary John Ringling lost virtually his entire fortune, and was only able to retain his home (Ca’ d’Zan), the museum that still stands on the Sarasota bayfront, plus his extensive art collection. Once one of the wealthiest men in the world, Ringling died in New York in 1936 with only a reported $311 in the bank. At his death, he willed his Sarasota mansion, the museum and all his art to the State of Florida. His nephew, John Ringling North, operated the world famous circus until he sold it to the Feld family in 1967.

Sarasota real estate and SAR survived the tumultous times of the 1920s and 30s, and the Association has grown steadily in size and scope since those early days.

The new SAR headquarters at 2320 Cattlemen Road (above) is the latest chapter in the rich history of real estate in Sarasota. At right, the downtown area near State Street that was home to the original 10-by-15 foot Association office in 1923.

The 1970s Bring More Change

SAR has seen tremendous change in the Sarasota real estate market, and in the way the real estate industry operates.

The paper multiple listing service books that were the staple of the industry for decades have long ago been replaced by the computerized MLS system.

In 1973 - 40 years ago - there were 600 listings in the local MLS administered by SAR (today, almost 4,000). Model homes were sold for between $12,000 and $40,000.

The school system (the largest local employer) had a budget of $24 million (today it is $375 million).

Claire Dumas Scamardi, who served as the SAR executive director from 1973-79, remembers when the printed MLS books were all-important to the members. She led the Association into the era of computerized MLS listings, ushering in the live system in June 1977.

It took some getting used to, Claire noted, but the progressive brokers and agents soon caught on. www.sarasotarealtors.com

“We had a small office on State Street in downtown Sarasota, and we had 740 members in SAR,” recalled Scamardi.

“In a typical day, about 30 people would come through the office to buy signs or take a class. We had to instruct everyone on how to use the new system. It was difficult at first, but it all worked out.”

Claire and her late husband bought a home in Kensington Park in 1954 for $5,600 - a modest two-bedroom, onebath abode. She remembers heading to

Sarasota Realtor® Magazine

the beach when there were no high-rise buildings, and people started bonfires in charcoal pits in the sand. The era was more relaxed, but Claire noted she prefers today’s Sarasota with its vibrant cultural offerings and dynamic, diverse lifestyle choices.

The Association continued to grow as the decade of the 1980s dawned, and the office just wasn’t big enough any more.

Continued on P. 26, See HISTORY JUNE 2013

7

Nominating Committee submits 2014 board slate The SAR Nominating Committee, chaired by Michael Bruno, has submitted Officer and Director nominees for the 2014 Board of Directors. The committee selected the following slate for the election to be held at the SAR Annual Meeting on Friday, September 20 in the SAR auditorium, 2320 Cattlemen Road, Sarasota.

Officers: President: Peter Crowley, RE/MAX Alliance Group President-Elect: Stafford Starcher, RE/MAX Alliance Group Treasurer: Xena Vallone, Xena Vallone Realty Secretary: Amy Worth Paul, RE/MAX Platinum Realty Directors to serve a 3-year term: Georgina Clamage, Michael Saunders & Company Alex Krumm, RE/MAX Alliance Group Margo MacKenzie, Wagner Realty Steve Rider, Florida Internet Realty Bob Stanley, Coldwell Banker Residential Director to serve a 1-year term: Joyce Steward, Joyce Steward Real Estate 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 Friday, June 14. For information and forms, look under Hot Topics on SAR’s website at SarasotaRealtors.com. Candidates for Director 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. No more than three Directors from the same firm may serve.

Information about the candidates 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.

Peter Crowley, who served as President-Elect in 2013, will automatically become President on January 1. President Roger Piro, Town & Country Real Estate, will continue on the Board as Immediate Past President.

Directors whose terms continue in 2014 are: Steve Bailey, Coldwell Banker Residential; Michael Davenport, King Realty; Joe C. Hembree, Hembree & Associates; Debbie Judge, Michael Saunders & Company; Marianne LeBar, Michael Saunders & Company; Brad Lindberg, Sperry Van Ness Commercial; Renee Marquiss, Xena Vallone Realty; Christina Pitchford, Allen Real Estate Services; and Kristin Triolo, Florida Homes eBroker.

8

JUNE 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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CGC1513647 *Home and community information, including pricing, included features, terms, availability and amenities are subject to change and prior sale at any time without notice or obligation. Pictures, features, colors and sizes are approximate for illustration purposes only and will vary from homes as built. ** Square footage dimensions are approximate. ***Pools are not available in all lots.

Governmental Affairs 10

SAR Participates in Hill Visits During NAR Mid-Year Meeting

D

By Marc Mansfield Governmental Affairs Director

During the NAR Mid-Year Legislative Meetings and Trade Expo held in Washington D.C., Realtors® are given the opportnity to schedule meetings with their U.S. Senators and Representatives to communicate and discuss issues important to real estate and the consumers they represent.

SAR members, along with several thousand other Realtors®, participated in hill visits during the week of May 13th. At the time this column was being developed, appointments had been made with Senators Bill Nelson, Marco Rubio and Representative Vern Buchanan.

To help prepare members for these upcoming appointments, NAR prepares a series of talking points (shown below) that walk Realtors® through the messages that NAR would like to see presented to their Members of Congress: Preserve Homeownership Tax Policies - As Congress considers proposals to reform the federal tax code, lawmakers should consider the role that real estate provisions play in the nation’s housing markets and economy. NAR requests that Congress continue to support the following tax provisions for real estate: • Mortgage Interest Deduction - NAR opposes efforts to change or eliminate this provision for primary and second homes.

• Property Tax Deduction - Property taxes paid are properly not considered “income” and should not be subject to federal income tax.

• Capital Gains Exclusion for Sale of Principal Residence - Congress should continue this provision of the tax code.

Preserve the Mission and Purpose of the FHA Program - Ensure that the Federal Housing Administration single family program has tools to meet its mission of providing affordable financing to qualified borrowers nationwide.

• FHA’s single family mortgage insurance program helps preserve private financing options for homebuyers regardless of local, regional or national economic conditions.

• Without FHA, the nation’s housing recovery would never have begun.

• Do no harm to the recovery - Do not enact FHA reform legislation that unfairly restricts homebuyer access to safe affordable mortgage credit.

JUNE 2013

Restructure Fannie Mae and Freddie Mac and Encourage the Return of Private Capital - Restructure Fannie Mae and Freddie Mac to ensure that affordable mortgages are available to consumers in all types of markets and to avoid a major disruption to the nation’s economy that would result from the total collapse of the housing finance sector.

• An Efficient and Adequately Regulated Secondary Market is essential to providing affordable mortgages to consumers. Without a secondary market, mortgage interest rates would be unnecessarily higher and unaffordable for many Americans.

• The Federal Government must offer a guarantee of some mortgage instruments. Without government backing, creditworthy consumers will pay much higher mortgage interest rates and mortgages may at times not be readily available.

• The Government’s Guarantee should ensure a wide range of safe, reliable mortgage products for creditworthy consumers. These mortgage products should include 15 year and 30 year fixed rate loans, traditional adjustable rate mortgages and other products that have stood the test of time.

Sarasota Realtor® Magazine

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Property Appraiser

2013 Florida Legislature: How Were You Impacted?

2013 Legislative Activities

The Florida House and Senate completed their annual romp in Tallahassee on May 3, 2013 and the results of their efforts that may affect property values, exemptions and classifications, subject to the Governor signing off

By Bill Furst, GRI, CRS, CRB on the legislation, are: Sarasota County Property Appraiser

The Florida House and Senate completed their annual romp Finally, after 5 years, the Legislature passed a Renewable Energy statute, in Tallahassee on May 3, 2013 and the results of their efforts Section 193.624, F.S., that provides partial implementing language for that may affect property values, exemptions and classifications, subject to the Governor signing off on the legislation, are: Constitutional Amendment 3, from 2008. Under this statute the property appraiser may not consider the increase in value attributed to the Finally, after 5 years, the Legislature passed a Renewable Energy statute, Section 193.624, F.S., that provides partial installation of a renewable energy device, (qualified devices are listed in implementing language for Constitutional Amendment 3, the Statute), when determining the assessed value of residential property. from 2008. Under this statute the property appraiser may not Section 193.624 applies to devices installed after January 1, 2013 and will consider the increase in value attributed to the installation of apply to assessments beginning January 1, 2014. No application is required. a renewable energy device, (qualified devices are listed in the The legislature did not address improvements to add wind resistance that Statute), when determining the assessed value of residential were part of Amendment 3. Maybe next year? property. Section 193.624 applies to devices installed after

January 1, 2013 and will apply to assessments beginning Section 196.061, F.S., Rental of homestead to constitute abandonment, January 1, 2014. No application is required. The legislature would be amended to allow homesteads that are rented for 30 days or less did not address improvements to add wind resistance that were part of Amendment 3. Maybe next year? per calendar year to retain the homestead. However, any property rented on January 1 would still lose the homestead for that year. The owner must Section 196.061, F.S., Rental of homestead to constitute abandonment, would be amended to allow homesteads that then reapply for the exemption. Once again, the Governor has to sign it. are rented for 30 days or less per calendar year to retain the

homestead. However, any property rented on January 1 would Sections 193.451 and 193.461, F.S., dealing with agricultural lands and still lose the homestead for that year. The owner must then crops would be amended to include aquacultural and algacultural crops in reapply for the exemption. Once again, the Governor has to those activities considered to be an agricultural purpose. Those crops sign it. would not be taxable until they became mature or marketable. Algaculture Sections 193.451 and 193.461, F.S., dealing with agricultural is a form of aquaculture involving the farming of species of algae and lands and crops would be amended to include aquacultural aquaculture is the farming of aquatic organisms such as fish, crustaceans, and algacultural crops in those activities considered to be an mollusks and aquatic plants agricultural purpose. Those crops would not be taxable until

they became mature or marketable. Algaculture is a form A recent hot‐button issue, Adverse Possession, got the Legislature’s of aquaculture involving the farming of species of algae and attention in this year. Section 95.18, F.S., Real property actions; adverse aquaculture is the farming of aquatic organisms such as fish, crustaceans, mollusks and aquatic plants possession without color of title, would be amended to require that anyone wanting to claim adverse possession must pay all property taxes and A recent hot-button issue, Adverse Possession, got the Legislature’s attention this year. Section 95.18, F.S., Real government liens against the property within 1 year after entering into property actions; adverse possession without color of title, possession and file a return of adverse possession with the property would be amended to require that anyone wanting to claim appraiser within 30 days after paying the taxes and liens. The legislature adverse possession must pay all property taxes and government put some serious teeth into this statute. If signed by the Governor, persons liens against the property within 1 year after entering into who, prior to filing a return with the property appraiser, occupy or attempt possession and file a return of adverse possession with the to occupy a property or rent the property to others, will be committing property appraiser within 30 days after paying the taxes and trespass or theft respectively. liens. The legislature put some serious teeth into this statute. If

signed by the Governor, persons who, prior to filing a return These new or amended bills will take effect once they’re signed by the with the property appraiser, occupy or attempt to occupy a th st property or rent the property to others, will be committing Governor. That could be anytime between May 6 and the 1 of July. We trespass or theft respectively. will include a brief update in the July article. If you or your For morecustomers/clients need more information on these topics give us a call, These new or amended bills will take effect once they’re information, signed by the Governor.

That could be anytime between May er of our offices. Or you can contact your state email or just stop in to eith contact the 6th and the 1st of July.

We will include a brief update in

Propertyrepresentative or senator the July article. If you or your customers/clients need more Appraiser’s information on these topics give us a call, email or just stop office at in to either of our offices. Or you can contact your state 941.861.8200. representative or senator 12

T

JUNE 2013

Sarasota Realtor® Magazine

2012 Constitutional Amendments and Exemptions Update

Amendment 2 and Section 196.082, F.S., expanded eligibility for the combat related disability exemption to all qualified veterans, not just those who were Florida residents when they entered the military. This year’s exemption requests have produced dozens of new applicants for this valuable benefit. We want to thank the local office of the Florida Department of Veterans Affairs for their generosity in sharing their time and knowledge, giving us the tools we need to provide veterans with the maximum benefit in recognition of their service and sacrifice. If you or someone you know is an honorably discharged, 65 or older, disabled veteran, and any part of their disability is combat related as defined by the Veterans Administration, contact our office right away.

Amendment 11 and Section 196.075, F.S. created a new local option 100% ad valorem exemption for income qualified persons, 65 or older, who have resided on their property for at least 25 years, and whose property has an assessed value of less than $250,000. Locally, only the Town of Longboat Key has passed an ordinance adopting this exemption. Longboat Key has also voted to increase the amount of the existing senior exemption to the $50,000 maximum. These two exemptions apply only to Town of Longboat Key millage rates.

www.sarasotarealtors.com

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

SAR-Habitat project gets underway

The SAR-Habitat for Humanity project at 1353 21st Street near downtown Sarasota is off and running!

The groundbreaking and dedication took place on May 2nd, and the first work day took place on May 4th, with about 15 SAR volunteers on hand to dig footings for the brand new home.

The next work date on June 1st will probably be completed by the time you read this, but many more work days are coming.

Watch your SAR emails for details.

You can also visit www.sarasotahabitat.org and sign up to work on Tuesday or Thursday mornings during the next six months as the home rises from the dirt.

The completed 1,400 square-foot frame home with detached garage will be located in one of Sarasota’s Enterprise Zones, areas that are targeted by the city government for revitalization.

Selection of the family that will purchase the home from Habitat with an interest-free loan is still underway, but an announcement is imminent.

SAR once again donated $25,000 from the Association’s Affordable Housing Fund to help make the project a reality. This is the third consecutive year SAR has given this amount to help make the dream of home ownership come true for a local family.

The 2011 and 2012 projects were rehabilitations of foreclosed homes that were purchased by Habitat. This is the first complete demolition and rebuild that SAR has participated in, and during the next six months we will ask our members to come out and lend a hand as the project continues.

SAR’s Community Outreach Committee is also planning other worthwhile community projects during 2013, including participation once again in Selby Garden’s Lights in Bloom holiday festival; the big Make A Difference Weekend in October; and other projets to be announced in the near future.

Roxanne Foley is this year’s Committee chair person, and is always looking for new members. Call Ray Porter at 952-3405 to volunteer!

The groundbreaking for the new SAR-Habitat home (above) was held on May 2, and the first work day (below) was May 4th.

District 13 Conference slated June 21st in Punta Gorda Don’t miss this year’s District 13 Conference and Trade Show at the Charlotte Harbor Event and Conference Center in beautiful Punta Gorda, Florida. Mark your calendars for Friday, June 21.

Optimize your visibility by reaching an elite audience of real estate professionals all on one day in one location from six Realtor® Associations in Florida’s SunCoast region, including SAR. This year’s keynote speaker will be C.D. “Chip” Boring, broker-owner and president of RE/MAX Realty Plus in Sebring, the1999 president of Florida Realtors®, and current chairman of the Florida Real Estate Commission (FREC).

The day includes many worthwhile programs, including: - Amy’s Apps, with Amy Smythe-Harris, Realtor®/Speaker - Procuring Cause and Filing Complaints, with Margy Grant, Vice President and General Counsel of Florida

14

JUNE 2013

Realtors® - Capturing Online Business, with Barry Grooms, Realtor®/Speaker - Meet the Candidates Program (candidates for Florida Realtors® Leadership posts) - BP Oil Spill Claims, with Attorney David Holmes, Farr Law Firm - MLS Fusion Training, with an MFRMLS trainer - Relevant Technology for Today’s Realtor®, with Barry Grooms - Legal Hotline: Top 3 Questions, with Margy Grant - Closings From Hell - a panel discussion Register today for the incredibly low price of only $20.13 at www.district13conference.org . Special hotel rates are available at the Four Points by Sheraton Harborside.

Sarasota Realtor® Magazine

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April 2013 Sales Top 1,000 Mark - Eight Year High

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Members of the Sarasota Association of Realtors® sold more than 1,000 properties in April 2013, the first time sales have hit four figures in a single month since June 2005.

There have only been ten months in SAR’s 90-year history that sales have topped 1,000, and the other nine occurred in 2004 and 2005.

The spring sales surge in the Sarasota real estate market hit 714 single family homes and 303 condominiums in April 2013, for a total of 1,017 closings. That compared to 589 single family homes and 297 condos sold in April 2012, for a 14-percent increase over last year at this time. The all-time record of 1,223 sales was recorded in April 2004.

The high sales volume was augmented by an increase in the median sales prices. The figure for single family homes was $217,000 - the highest level since August 2008 and up 24 percent from last April’s figure of $175,000. For condos, the median was $185,000, slightly lower than last April’s figure of $191,000. The condo figure has continued to fluctuate substantially over the past few months, dropping to a low point of $130,000 in January 2013 before recovering.

“This historic number of sales is a testimony to the hard working, professional Realtors® who belong to this association,” said SAR President Roger Piro. “Many agents and brokers I talk with are spending countless hours with buyers and sellers, working nights and weekends and going the extra mile to make sure they meet the needs of their clients. This has been an amazing time for the Sarasota real estate market, and it’s our members who help make dreams come true for those who want to make Sarasota their new home.”

Pending sales, which predict future closings, were at 1,097, slightly lower than last month’s figure of 1,221 and slightly up from last April’s figure of 1,068. Pending sales have topped 1,000 every month this year. This important statistic represents properties that went under contract during the month, and indicates sales in May and beyond could also be at high levels.

The available inventory remained near the lowest level in a decade, declining to 3,479 from the March figure of 3,643.

The inventory is down almost 19 percent since April 2012.

The April 2013 months of inventory were 3.2 months for single family and 3.9 months for condos, with both property categories at the lowest level in the past decade. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last April, there were 4.7 months of inventory for single family homes and 5.1 months of inventory for condos. At the worst point of our market in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos.

Currently, only 376 properties listed for sale in the MLS are short sales or foreclosures, down 22 from last month’s figure. This represents about 10.8 percent of www.sarasotarealtors.com

“This has been an amazing time for the Sarasota real estate market, and it’s our members who help make dreams come true for those who want to make Sarasota their new home.”

- SAR President Roger Piro available properties, down from last month’s figure of 10.9 percent and a big drop from January 2012 when the figure represented 17 percent of the market.

Sales of distressed properties represented about 22 percent of the overall sales in April 2013, down substantially from the March figure of 30 percent, and far lower than the 51 percent figure experienced in the fourth quarter of 2010.

“Obviously, we hope this strong market continues indefinitely, and the pending sales figure indicates the market still has some legs,” said Roger Piro. “With the tight inventory and improving national and local economic picture, this is still shaping up as an historic year for local real estate.”

Sarasota Realtor® Magazine

JUNE 2013

15

Sarasota MLSSM Statistics - April 2013 Single Family

Unit Sales

Condo

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

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

Single Family

Median Sale Price

Condo

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

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

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

2301

714

31.0

137

$217,015

$185,000

3.2

789

34.3

756

147

This Month Last Year

2,758

589

21.4

175

$175,000

$165,000

4.7

748

27.1

662

134

2,414

628

26.0

146

$210,000

$180,000

3.8

887

36.7

805

132

‐

2,341

‐

141

$203,300

‐

‐

3,224

‐

3,415

‐

Oct 95.4 ‐

Nov 95.6 ‐

Dec 95.3 ‐

Last Month YTD

2012 2013

Jan 95.4 96.2

Single Family – Sale Price Vs. List Price % Rates Feb 94.2 96.4

Mar 94.6 96.8

Apr 94.7 96.4

May 95.1 ‐

Jun 95.2 ‐

Jul 94.2 ‐

Aug 95.3 ‐

Sept 95.2 ‐

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of May 10th, 2013, 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 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - April 2013 Single Family Condo

Inventory 3,000 2,500 2,000 1,500 1,000 500 0 Apr‐12 May‐12 Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12 Dec‐12

Jan‐13

Feb‐13 Mar‐13 Apr‐13

Single Family Condo

Pending Sales 1000 900 800 700 600 500 400 300 200 100 0 Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

Condo

This Month This Month Last Year Last Month YTD

2012 2013

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

1,178

303

25.7

166

$185,000

$172,500

3.9

308

26.1

328

106

1,525

297

19.5

192

$191,750

$165,000

5.1

320

21.0

313

145

1,229

259

21.1

165

$182,000

$174,000

4.7

334

27.2

299

94

‐

951

‐

167

$170,100

‐

‐

1,276

‐

1,350

‐

Jan 93.1 95.4

Condo – Sale Price Vs. List Price % Rates Feb 93.5 95.4

Mar 94.2 95.2

Apr 94.3 95.4

May 93.8 ‐

Jun 93.8 ‐

Jul 94.6 ‐

Aug 94.1 ‐

Sept 94.2 ‐

Oct 94.4 ‐

Nov 95.4 ‐

Dec 94.8 ‐

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

Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

JUNE 2013

17

Commercial Investment Division

CID Gains NAR Accreditation!

D

By Linda Emery CID President

Did you know that the Commercial Investment Division was formed in 1973? Forty years ago a small group of commercial agents saw the need for networking and sharing information, best practices, and leasing and sales opportunities.

Through the years, the members of CID and its board of directors have provided valuable information and benefits to the commercial Realtors® and Affiliates in the area. The many hours of time, the dedication and determination of CID members was recognized by the National Association of Realtors at the MidYear Conference in May. The Commercial Investment Division achieved the designation of “Accredited” Commercial Division, one of only 110 commercial groups throughout the US to meet the requirements for this designation.

There are a number of benchmarks that a commercial division must meet to become accredited.

These include general membership meetings, educational opportunities, pitch-networking sessions, dedicated board of directors, community involvement, collaborative relationships in the commercial market, a dedicated website, etc. We have met and exceeded those benchmarks.

With accreditation comes support from the NAR Commercial Division in the form of planning strategies for programs and education, marketing and

WANTED: Committee Members Choose a committee and email the Chair. Your input and experience will enhance the value of CID Membership.

Committees

Education – Susan Goldstein: SusanGoldstein@TheCommercialSpecialist.com Program – Lori Hellstrom: LHellstrom@Ospreyres.com MFCRE/Technology - Kevin Robbins: Kevin@Robbinscommercial.com Public Policy – Pete Skokos: PSkokos@nhlslaw.com Membership – Dave Roth: DavidRoth@remax.com Public Relations –Roberta Kolton: RobertaKolton@MichaelSaunders.com

CID Monthly Meeting Schedule Commercial Marketplace Sessions Increase visibility for your properties, learn of new opportunities, and exchange information with commercial professionals. Deals are made at these sessions.

1st, 2nd & 4th Fridays at the SAR Auditorium 3rd Friday at the MAR offices NEW In 2013! The monthly general meeting (3rd Tuesday) will now include a Marketplace session, giving members five opportunities each month to promote their listings.

Officers:

JUNE 2013

Commercial Marketplace Sessions Friday, June 7, 9 a.m. – SAR Auditorium Friday, June 14, 9 a.m. – SAR Auditorium Friday, June 21, 9 a.m. – MAR, 10920 Technology Terrace, Lakewood Ranch, FL Friday, June 28, 9 a.m. – SAR Auditorium, 2320 Cattlemen Road CID General Membership Meeting Date: Tuesday, June 18, 8:30 a.m.

Location: SAR Auditorium; Program: TBA-CID Members Only

2013 CID Officers & Directors

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

communications programs, and grant opportunities for NAR Signature Speakers or other special events for CID and its members.

A large part of the accreditation requirements was a dedicated website. Please go to www.sarasotarealtors. com and click on the CID logo at the top right of the home page. Our new website has links to valuable information pertinent to the commercial market.

To all the members of CID, all its past and present officers and directors – thank you for your time, efforts and dedication.

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

Sarasota Realtor® Magazine

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ar -

4) -

Education Programs

Get in Shape With Realtor® Boot Camp

Kick your career up a notch!

The Professional Development Committee has put together this basic training program for new agents as well as agents who need new energy infused into their business.

The training will consist of four sessions led by dynamic experienced real estate professionals.

Each session will cost $10 and you don’t have to sign up for the whole series up front.

Continental breakfast will be provided. The sessions will be held at SAR from 9 a.m. to 11 a.m. on the following dates.

June 7: Become a Superstar without Spending a Fortune: prospecting and lead generation, communication skills, customer service, and many inexpensive ways to get more bang for your buck.

Instructors are Christina Pitchford, Allen Real Estate; Cindy Rogers, Coldwell Banker; and Renee Marquiss, Xena Vallone Realty.

June 28: Learn How to Be an Information Digger: Listing contract, HOA restrictions, how to navigate the Clerk of Court, permitting and more. Instructors are

Brian McGreevy, Sarasota Home Realty, and Bill Furst, Sarasota County Property Appraiser.

July 12: Top Tips and Tricks: Simple ways of working more efficiently with the tools you already have.

Instructor is Dave Swenson, Exit Creative Realty July 19: Knowledge is Power, Navigate with Confidence: A primer on the sales contracts and their addenda. Instructor is Laura Benson.

Register now for only $10 per session at www. sarasotarealtors.com!

GRI courses continue this summer at SAR SAR is pleased to announce the upcoming dates for the GRI 300 Series: Real Estate Specialties, to be held at our new, state-of-the-art facility.

GRI 100 Series—Standards of Practice - $349 Aug. 13-14, 19-20, 26-27, Location: SAR Auditorium, 2320 Cattlemen Rd. 45 Hours Sales Associate Post-License Credit & 14 Hours CE Credit Kill two birds with one stone—earn your GRI designation while earning your post-license or continuing education credit! As well as your Code of Ethics requirement for Cycle 4! Topics covered are: Law, Fair Housing & Diversity, Contact to Contracts, Business Planning &

Goal Setting, Negotiating & Counseling, and Finance. At the end of each 2-day module, there will be a 50 question exam.

Realtor®-Attorney Joint Committee sets programs Seminars have been scheduled for June and July by the Realtor® Attorney Joint Committee at the SAR headquarters, 2320 Cattlemen Road. The seminars are free to SAR members, but advance registration is required.

Lunch is provided.

June 19 at 12 p.m.: Capacities - LLCs, corporations, partnership and who is authorized to sign for those entities; what the Realtor® should ask the client for when they sign

20

JUNE 2013

a listing agreement (i.e. articles, operating agreement, partnership agreement).

July 23 from 9 a.m. to noon: Distressed Residential Property Transactions, Short Sales, Deeds in Lieu, REO 3 hours CE credit for Realtors® (also approved for CLE credit for the Florida Bar, NALA and the Department of Financial Services)—a program of the Alliance for Homeowners.

Sarasota Realtor® Magazine

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Choose the right COURSE with WCI Communities.

Whether you enjoy a day teeing it up on the golf course or charting a course in your boat, WCI has a community to suit your needs.

This masterpiece community features superb amenities, including an expertly sculpted 18-hole championship golf course and clubhouse, River Club with dining, fitness and tennis, a picturesque nature park and, of course, exquisite homes. Some may consider it a stroke of genius.

On the shores of the Manatee River in Bradenton, Tidewater Preserve is a private boating community with exceptional amenities including the The Lodge offering a fitness center, resort style pool, Port & Court Club tennis complex, marina and boat lift, canoe park, even a riverfront nature walk.

SM

Carriage Homes from the $180s. Grand Villa, Classic Homes from the low $200s.

Homes from the low $200s to the $700s.

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Directions: From I-75 take Exit 195, 2 miles East

SM

Directions: I-75, Exit 220, West on FL-64 towards Bradenton, 1.5 miles, turn Right onto 48th St. Ct. Welcome Center 1 mile on left.

Congratulations to Amy Robinson with Coldwell Banker in Siesta Key, she’s at

Congratulations to Fred Gibson

with ReMax in Sarasota, he’s at 4% ! *

5% ! *

on first sale!

on second sale!

on three or more sales!

On Any WCI New Home Sale ** The more sales you make in 2013 the higher commission rate you can earn! Contracted Jan. 1 – Dec. 31, 2013. *Recorded sales as of April 5, 2013. **Contract must be fully deposited (under the terms of the agreement), and if applicable, out of rescission with all contingences met and all required deposits shall have been paid in full and cleared. Offer expires December 31, 2013. All commissions shall be paid at closing to the applicable broker provided all terms & conditions of the co-broker commission agreement have been met. The commission shall be calculated and paid in accordance with WCI’s Co-Broker Commission Program Agreement. Contact WCI Sales Director at Community Sales Center for specific closing requirements. Pictures shown may not be actual homes listed, but a representation of home designs available. Pricing and availability subject to change without notice. Void where prohibited. Offers are subject to change or cancellation without notice. All references to clubs and membership opportunities and other amenities are subject to fees, dues and availability. ©2013 WCI Communities, Inc. All rights reserved. CGC 031523

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

The Experience Is Everything.

Summer Seminars shine with topics for newer agents Title: The Art of Controlling the Sale SAR welcomes Kim Dickey, a sales Instructor: Kim Dickey trainer and motivational speaker for over Date: July 17, 9 a.m. to Noon 25 years with 12 years’ experience in the 3 Hours CE Credit--FL CE Course Number: “For Sale By Owner” field. She is now 0010293 Eastern Division Marketing Director for Cost: FREE to SAR Members First American Title.

This 3-hour Continuing Education Course Title: The Power of Relationship is about controlling the “sales process”. You Selling will learn the language that makes a prospect Instructor: Kim Dickey right, smart and want to take action by doing Date: June 5, 9 a.m. to Noon business with you. You will learn how to 3 Hours CE Credit--FL create urgency, seamlessly embed powerful CE Course Number: 0009238 negotiating ground rules and techniques and Cost: FREE to SAR Members understand what goes on in the head of a This 3-hour Continuing Education FSBO. Realtors don’t just help people buy and Course will build the foundation for Kim Dickey sell property, they absolutely help change their powerful Relationship Selling. Since so lives and with that comes responsibility and the many real estate products are similar, the necessity to control the sales process. real difference is in the Real Estate Professional’s ability to Course Outline: build and maintain a compelling relationship, communicate and demonstrate value and guide the prospect or client • Defining urgency through the buying and selling process. You will also learn • Building & maintaining urgency for buyers that every response needed to be successful has already been • Building & maintaining urgency for sellers written - you just have to make the commitment to know your next line. This training will empower, inspire and • The technical side of negotiating provide the tools to be successful in any market.

Course Outline: • Rapport, control and set-up listing presentation • Uncover emotional motivation and potential stalls. “We have a program for that!”

• Customize a marketing strategy, assume the sale and turn a “I want to try it on my own” into a sale Bob Chuck Jim • Overcome more difficult seller stalls George

Short Sale Seminar Slated Title: Short Sales Panel Date: June 17 Time: 9 to 11 a.m.

Cost: Free to SAR members; $10 others Panelists: Joann Koontz, Esq., Koontz and Associates, PL; Anne Weintraub, Esq., Band Weintraub PL; and Sheryl Edwards, Esq., the Edwards Law Firm.

How do you manage the expectations of your buyers and sellers when doing a short sale? What do agents often do wrong? What are the upcoming changes in short sales? What are the mechanics of a short sale? Get tips and tricks to avoid common mistakes. This trio of outstanding real estate attorneys will walk you through the steps to doing a short sale with particular emphasis on keeping you out of trouble.

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JUNE 2013

Robert Burbeck, Owner 1342 N. Lime Ave., Sarasota, FL 34237 (941) 953-3773 • (941) 713-4348 www.sarasotalockandkey.com Bonded and Insured Safes • Locks • Keys • High-security Locks • Multi-lock • Medeco Largest selection of Key Blanks in Area

Sarasota Realtor® Magazine

Chamber Member since 1964 Associated Locksmiths of America Safe & Vault Techncians Association www.sarasotarealtors.com

MLS Training Continues in June Pre-registration is required for all MLS classes at www.MFRMLS.com All classes are hands-on in the SAR Technology Center (except Entering & Updating). Registration is limited to 18 per class. If you need to cancel, please call MFRMLS directly at 800.686.7451 (not SAR).

MLS Basic June 4 or June 17, (FUSION), 9 a.m. to Noon Mandatory session for all new users.

Learn the basic tools of MLS. 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 from the Home Page.

MLS Compliance 101 June 4 or June 17, 1 to 2:30 p.m.

Mandatory session for all new users.

In this class you will learn about the My Florida Regional MLS Rules and Regulations and the compliance procedure for accuracy of Listing Data, along with additional educational materials available on MFRMLSUniversity.com Adding/Modifying Listings June 4 or June 17, 3 to 4:30 p.m.

Mandatory class if you will be entering/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.

Searching Made Easy June 10, 9 to 11 a.m.

This course will teach you how to use the MLS to set up searches, customize your criteria, add and remove fields to efficiently search the MLS. You will also learn to navigate the search results, create custom grids and more.

• Search – criteria, customizing and saving • Map Based searching - including setting default location and Points of Interest • Results – all features: grids, multi views, gallery, photo, map, print & email • Customization- how to customize and save personalized grids, email templates

www.sarasotarealtors.com

and personalizing search criteria for the individual agent.

Auto Notification Searches/ Prospecting June 10, Noon to 1:30 p.m.

This class will teach you how to automatically notify your prospects of newly matching and updated properties based on their specific criteria. Learn how to manage those searches and communicate with your prospects through the Personalized Website.

• Contact Website Agent View • Contact Website Customer View • Link Contacts to Listings • Saved Search Manager: deleting searches, re-activating searches, changing expiration dates • Contact Manager: searches, saved listings, contact webpage (Gateway), recent website activity gadget Website Management & Customization June 10, 2 to 4 p.m., or June 25, 9 to 11 a.m.

This class will cover the advanced features and customization of your Agent Website. Add unique content and hyperlinks, set up a re-direct for a custom URL and more.

Sarasota Realtor® Magazine

• Pages • Site Settings: domain, contact view, site rules, team settings • Lead Capture – where do leads appear • Website Activity Gadget • Consumer view of AWP: setting up user login, contact me, custom link for www.myfloridahomesmls.com • Website Banner Images iMapp June 25, Noon to 3 p.m.

In this class you will learn how to use the tax search features of iMapp.

Including iMapp’s interactive maps, tax data, comparable, auto-valuations, and easily create mailing labels for your favorite area.

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

JUNE 2013

23

SAR On the Scene

SAR Dedication Draws Big Crowd!

The ribbon-cutting, dedication and open house for the new SAR headquarters was held on May 21st and a large crowd of SAR members and guests showed up for the event. Here, SAR President Roger Piro and CEO Kathy Roberts cut the ribbon and Immediate Past President Laura Benson celebrates the occasion.

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

Photos by Jesse Sunday

SAR members and guests enjoyed refreshments and tours of the new 15,000 square foot, state-of-the-art headquarters at 2320 Cattlemen Road. From left, Sarasota County Property Appraiser Bill Furst; former SAR President Darla Furst; and SAR President-Elect Peter Crowley.

24

JUNE 2013

Sarasota Realtor速 Magazine

www.sarasotarealtors.com

3590 S. Tuttle Avenue, Sarasota, FL 34239

SAR School of RealSummer/Fall Estate Class Schedule - Summer/Fall Schedule 2013 Broker Pre-License Course SA-8: September 5 – October 3, 2013 Class starts: September 5 at 5:00 p.m.

14 Hours Classroom Continuing Ed. August 5 – August 6, 2013 Class starts August 5 at 9 a.m.

Cost: $79 for SAR members; $99 for nonmembers (SAR’s own School of Real Estate will be the 2013 provider of the 14‐hour license renewal course for SAR)

This session provides the full 14‐hours of continuing education needed for license renewal. The 14‐hours CE includes 3 hours of Core Law. Instructor: Michael W. Davenport Location:

2320 Cattlemen Road Sarasota, FL 34232

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AND Saturdays, 8:30 a.m. to 1:30 p.m.

Class limited to 20 students End of course Exam: On last day of course Instructor: Michael W. Davenport Location:

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Sarasota Realtor® Magazine

JUNE 2013

25

HISTORY From Page 7

The move to the South Tuttle Avenue headquarters was a major change for the Association and its members.

The Eighties and Beyond

The SAR facility on State Street in downtown Sarasota was considered a spacious (2,000 square feet) headquarters when it was selected in 1971 by the board and then-President Reid Farrell.

“That was a big office when we moved there in 1972!” recalled Farrell, who at age 85 is no longer active in real estate, but still handles some mortgage business. “We had a large parking lot, so we could accommodate bigger crowds at meetings. It worked out well.”

Farrell recalls the mild controversy in 1980 when the site for the current SAR headquarters was first being discussed.

“Many people thought at the time that we were moving too far to the east, too far away from downtown,” said Farrell.

The new building was soon constructed, and later a second, and finally the land to the north was purchased and a third building housing the SAR auditorium and tech center was erected in 1991.

John Parker, who served for 19 years as the Executive Vice President of SAR, shepherded the construction project. He recalls the change as much-needed and welcomed by the growng membership.

“We wanted to ensure that our facility blended well with the natural environment and the neighboring community,” said Parker. “Soon after we built the first structure, we needed to add a second office. It a few years later we added the auditorium building with the additional conference room and storage. The Tuttle facility served us well through those years, but parking was always an issue.”

Parker helped guide the Association through two decades of tremendous change. He helped acclimate the membership to the computerized MLS system and even started the first computer training center in the state, and one of the nation’s first for real estate associations.

“We had members who still insisted on using a printed MLS book all the way into the late 1990’s, but as the number dwindled, the printing cost increased, and finally the old books were abandoned entirely,” explained Parker. “There were many other modernizations and I’d like to think we became more professional during my tenure.”

Parker’s first hire was an administrative assistant, and his second was a bookkeeper to manage the SAR budget. Up until that late seventies, an outside bookkeeper had been utilized.

“When I got there, the committees didn’t have plans or job descriptions,” said Parker. “The forms for sales and listings, all the things people take for granted now, needed updating.”

One of the major initiatives Parker reinstituted was the SAR Leadership program, where future organization leaders

26

JUNE 2013

Main Street once was a horse-and-buggy, dirt road in Sarasota. could be encouraged, educated and trained to take on the important roles of the volunteer Association. The program continues to this day and provides an important link between past and future SAR leaders.

Parker, a former military man who made association administration a second career, retired in 1997, leaving SAR well positioned for the future.

The Twenty-First Century of SAR In 2001, when the debt on the construction of the South Tuttle complex was retired, the SAR board decided to continue making payments into a future building fund to provide for future growth. It was that foresight that allowed SAR to construct the brand new facility, and keep the Association debt-free.

Groundbreaking for the current facility took place in July 2012, and the big move from South Tuttle occured on April 19th, 2013. The new structure houses all staff offices, conference rooms, tech training center, the auditorium and storage areas under one roof. It features state-ofthe-art multimedia systems and leading edge technology throughout. Each of the three sections of the auditorium can seat about 40, and partitions can be used to divide the room and allow for simultaneous programs to be held.

“It’s a lovely facility, and it should serve at least two generations of current and future SAR members,” noted Parker.

The history of Sarasota real estate has many ups and downs, peaks and valleys, good times and bad, but through it all the professionalism and integrity of the local real estate industry has been at the forefront of the mission of the Sarasota Association of Realtors®.

SAR continues to thrive and its members continue to prosper, thanks to the hard work and commitment of so many members and volunteer leaders and committee chairs.

The not-for-profit trade association has survived for 90 years thanks to the efforts of hundreds of individuals, many who have passed away, and their devotion to the real estate industry and its commitment to making the American dream come true.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Editor’s Note: This year, SAR’s focus is on “Raising the Bar” and improving the professionalism of our members. Each issue of the magazine will include a case study from the Code of Ethics & Arbitration Manual produced by the National Association of Realtors®.

Case #1-29: Multiple Offers to be Presented Objectively (Adopted November, 2002.)

Realtor® A listed Seller S’s house. He filed the listing with the MLS and conducted advertising intended to interest prospective purchasers. Seller S’s house was priced reasonably and attracted the attention of several potential purchasers.

Buyer B learned about Seller S’s property from Realtor® A’s website, called Realtor® A for information, and was shown the property by Realtor® A several times. Buyer X, looking for property in the area, engaged the services of Realtor® R as a buyer representative. Seller S’s property was one of several Realtor® R introduced to Buyer X. After the third showing, Buyer B was ready to make an offer and requested Realtor® A’s assistance in writing a purchase offer. Realtor® A helped Buyer B prepare an offer and then called Seller S to make an appointment to present the offer that evening.

Later that same afternoon, Realtor® R called Realtor® A and told him that he was bringing a purchase offer to Realtor® A’s office for Realtor® A to present to Seller S. Realtor® A responded that he would present Buyer X’s offer that evening.

That evening, Realtor® A presented both offers to Seller S for his consideration. Seller S noted that both offers were for the full price and there seemed to be little difference between them. Realtor® A responded, “I’m not telling you what to do, but you might consider that I have carefully pre-qualified Buyer B. There’s no question but that she’ll get the mortgage she’ll need to buy your house. Frankly, I don’t know what, if anything, Realtor® R has done to pre-qualify his client. I hope he’ll be able to get a mortgage, but you never can tell.”

www.sarasotarealtors.com

Realtor® A added, “Things can get complicated when a buyer representative gets involved. They make all sorts of demands for their clients and closings can be delayed.

You don’t want that, do you? Things are almost always simpler when I sell my own listings,” he concluded. Seller S, agreeing with Realtor® A’s reasoning, accepted Buyer B’s offer and the transaction closed shortly thereafter.

Upset that his purchase offer hadn’t been accepted, Buyer X called Seller S directly and asked, “Just to satisfy my curiosity, why didn’t you accept my full price offer to buy your house?” Seller S explained that he had accepted another full price offer, had been concerned about Buyer X being able to obtain the necessary financing, and had been concerned about delays in closing if a buyer representative were involved in the transaction.

Buyer X shared Seller S’s comments with Realtor® R the next day. Realtor® R, in turn, filed an ethics complaint alleging that Realtor® A’s comments had intentionally cast Buyer X’s offer in an unflattering light, that his comments about buyer representatives hindering the closing process had been inaccurate and unfounded, and that Realtor® A’s presentation of the offer had been subjective and biased and in violation of Article 1 as interpreted by Standard of Practice 1-6.

At the hearing, Realtor® A tried to justify his comments, noting that although he had no personal knowledge of Buyer X’s financial wherewithal and while he hadn’t had a bad experience dealing with represented buyers, it was conceivable that an overzealous buyer representative could raise obstacles that might delay a closing. In response to Realtor® R’s questions, Realtor® A acknowledged that his comments to Seller S about Buyer X’s ability to obtain financing and the delays that might ensue if a buyer representative were involved were essentially speculation and not based on fact.

The Hearing Panel concluded that Realtor® A’s comments and overall presentation had not been objective as required by Standard of Practice 1-6 and found Realtor® A in violation of Article 1.

Sarasota Realtor® Magazine

JUNE 2013

Ethics In Action

Multiple Offers Must Be Presented Objectively

27

Toastmasters: Find your inner confidence

By Mary Hellhake WCR President

Toastmasters - what’s in it for you?

Toastmasters will give you the skills and confidence you need to effectively express yourself in any situation. Whether you are a professional, student, stay-at-home parent or retiree, Toastmasters is the most efficient, enjoyable and affordable way of gaining great communication skills.

By learning to effectively formulate and express your ideas, you open an entirely new world of possibilities. You’ll be more persuasive and confident when giving presentations, and you’ll improve your one-on-one dealings with others.

How does it work?

The environment is friendly and supportive, and the self-paced program allows you to build confidence with each speaking assignment. And you’ll love the applause! Constructive evaluation is the heart of the Toastmasters program. Each time you give a prepared speech, an evaluator will point out strengths and suggest improvements. At first you’ll be applauded for your effort; later you’ll be applauded for your skill.

Since 1924, Toastmasters International has helped millions of men and women become more confident in front of an audience. Our network of clubs and their learn-by-doing program are sure to help you become a better speaker and leader. Why pay thousands of dollars for a seminar when you can join Toastmasters for a fraction of the cost and have fun in the process?

Leaders are good communicators.

Leadership is the art of persuading others to do what you wish to be done. To do so, you need to communicate, and you need to work as a team. In Toastmasters, you’ll do both. And you’ll find out how to vary your approach to suit the needs of different

people, be they the audience for a speech, the committee for a fundraiser, or the members of your family.

Don’t delay!

Become the speaker and leader you want to be.

Confident, charismatic leaders weren’t born that way.

As you progress in Toastmasters, you’ll get to practice your skills by organizing and conducting meetings and motivating others to help you. Become a better negotiator. Gain trust. Sharpen your management skills. Inspire your team. Be decisive! You won’t regret it. With more than 270,000 members in over 13,000 clubs in 116 countries, you’re sure to find a club near you. Check out www.toastmasters.org.

Sarasota WCR Toastmasters Club is open to all interested parties Meeting Place and Times: Sarasota Association of Realtors®, 2320 Cattlemen Road, Sarasota 7:30 a.m., 1st & 3rd Wednesdays Save The Date - WCR Business Luncheon TOASTMASTERS: Where Leaders Are Made August 9, 2013 at Noon Guest Speaker: Butch Phelps, DTM Michaels on East

2013 Leadership Team

28

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

Peter Salefsky Membership Michael Saunders & Company Phone: 941-924-5107 petersalefsky@mihaelsaunders.com

Susan Phelps President-Elect Cristello and Company RE Cell: 941-726-2227 sarasotasuze@gmail.com

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

Catherine Lamphier Vice-President Membership Michael Saunders & Company Cell: 941-400-4219 catherinelamphier@michaelsaunders.com

Tim Calpin Recording Secretary JP Morgan Chase Phone: 941-953-3583 timothy.c.calpin@JPMChase.com

JUNE 2013

Sarasota Realtor® Magazine

Kristin Triolo Corresponding Secretary Florida Homes eBroker Phone: 941-725-2486 kristintriolo@floridahomesebroker.com

www.sarasotarealtors.com

om

Title: International 201: Top Feeder Markets for Sarasota Date: June 13, 2-4 p.m. (with networking and refreshments from 4-5 p.m.)

Location: SAR Auditorium, 2320 Cattlemen Road Cost: Global Business Council Members: FREE Others: $10 This session is aimed at giving you the information you need to avoid the pitfalls of working with people from other countries who are interested in buying property in this area.

Real estate practices around the world vary considerably from ours, and as a consequence, you could lose clients as a result of these differences. This session includes people who have been Realtors in other countries or have

extensive personal knowledge of the relevant practices in those countries.

After this session, you will be able to recognize these differences and secure a good business relationship with your foreign clients.

Currency Update—Darren Connor, Moneycorp Dealing with Clients from Germany—Tina Rudek, Engel & Voelkers LBK Dealing with Clients from Brazil— Maria Guimaraes, Horizon Realty International Dealing with Clients from the UK—Andrew Batty, RE/MAX Alliance Group Dealing with Clients from China—TBA Introduction to Edelweiss Airlines—Robert Golden, Edelweiss Airlines

Madrid SIMA Conference highlights Florida The State of Florida was slated to be this year’s special guest region at the 15th edition of the Madrid International Real Estate Exhibition, SIMA2013, which was held on May 30th through June 2nd in Madrid, Spain.

SAR offered our Global Business Council members the opportunity to host one of the five booths offered, and two local Realtors® made the trip!

Coinciding with the 500th anniversary of Florida’s discovery, SIMA2013 featured a special exhibition area for the Sunshine State that not only highlighted the area as a great real estate investment destination, but also as an unparalleled destination for international visitors.

This area is supported by VISIT FLORIDA, the official tourism marketing corporation for the State of Florida, Florida Realtors®, the largest trade association in Florida, and other partners.

In preparation for the SIMA show, SAR prepared a special DVD video, along with a four-page brochure.

Local photographer Detlev von Kessel allowed SAR to use many of his photographs of the Sarasota area in the production of this material.

Our thanks to Detlev for his cooperation on this project, and for his many favors and courtesies over the past several years!

The special SIMA promotion and www.sarasotarealtors.com

Global Business Council

Discover top feeder markets for Sarasota

The special Florida booths sit at the front of the SIMA2013 exhibition. communication package included: - Special web coverage. Florida, Guest Destination web section - Logo of Florida, Guest Destination to appear in all SIMA2013 promotional materials - Special press release announcing the participation of Florida and all the local associations distributed to their entire database (more than Sarasota Realtor® Magazine

50,000 contacts –trade visitors and end buyers) - Information about the participation of Florida and all the local associations on three national and international e-mailings.

Newsletters were sent during March, April and May. - Special coverage through SIMA’s social networks (Facebook, Twitter and SIMA Blog) JUNE 2013

29

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Beale, Dana: Dana Betts-Beale Appraiser Campbell, David: Campbell Realty LLC Carpenter, Michelle: Carpenter & Company, Inc. Charlesworth, Amanda: Charlesworth Realty Gladding, Danielle: Danielle Gladding R.E. Broker Vaughn, Marnie: Riverstone Residential SF, Inc. Wayland, Terry: Rental Link Wharton, Jeremy: Revolution Real Estate LLC Wiegand, Jeaneen: Wiegand Realty

New Members

Ameal, MaryElizabet: Michael Saunders & Company Amero, Carol: Key Solutions Real Estate Grp Beychok, Carey: RE/MAX Alliance Group Brown, Theresa: Keller Williams On The Water Cameron, Tracy: Coldwell Banker Res R E Clark, Susan: Exit King Realty Cooper, Kathryn: DWELL Real Estate Crane, Shawn: Coldwell Banker Res R E Edds, John: Coldwell Banker Res R E Fiorini, Michael: Michael Saunders & Company Fuchs, Todd: Coldwell Banker Res R E Gordon, George: Exit King Realty Hampton, Eileen: Horizon Realty International Haynes, Scott: Michael Saunders & Company Heinlein, Stanley: Hembree And Assoc Inc. Homenuk, Lonnie: Ian Black Real Estate LLC Kauthen, Dean: Horizon Realty International Keech, Kathryn: Exit King Realty Lansiquot, Adrian: Coldwell Banker Commercial NRT Lutinski, Donna: Coldwell Banker Res R E Makowsky, Linda: Wagner Realty Martin, Jo: Coldwell Banker Res R E McCulloch, Lucy: Keller Williams Lakewood Ranch McKenna, Robert: Sarasota Home Realty Mooney, John: Coldwell Banker Res R E Moret, Kathie: Exit King Realty Nesci, Raymond: Coldwell Banker Res R E Ross, Jeremy: Keller Williams Lakewood Ranch Rossnagle, Terre: Coldwell Banker Res R E Sangbush, Jennifer: Michael Saunders & Company Sutton, Kimberly: Medway Realty Terry, Robert: Coldwell Banker Res R E Tucker, Robert: Keller Williams Lakewood Ranch Van Natter, Gregory: Keller Williams Lakewood Ranch Walters, Gregory: Exit King Realty Warno, Richard: Coldwell Banker Res R E Whalen, Sharon: Coldwell Banker Res R E Yuza, Jeffrey: Exit King Realty

Now With ...

Bach, Carla: Hunt Brothers Realty, Inc. Bietsch, Melissa: Keller Williams Lakewood Ranch Boucher, Gina: Exit King Realty Box, David: Atchley International Realty Derosier, Victoria: Charlesworth Realty Diaz Gonzalez, Angela: Medway Realty Franzetti, Paul: Keller Williams Lakewood Ranch Garrison, William: RE/MAX Tropical Sands Gonzalez, Rafael: Eslinger Realty Inc.

30

JUNE 2013

Hagman, Helmer: RE/MAX Platinum Realty Hunter, Nancy: Realty Services Inc. Keener, Cynthia: Exit King Realty Keller, Eugenia: Coldwell Banker Res R E Kolozs, Karen: Riverstone Residential SF, Inc. Kuhn, Kaitlin: Michael Saunders & Company Lauber, Frank: Premier Sotheby’s Intl. Realty Lord, Diana: Wagner Realty Marenghi, Pamela: Premier Sotheby’s Intl. Realty McIntosh, Diane: Coldwell Banker Res R E Montalvo, Jessica: Kelly Gettel & Company PLLC Peterson, Paula: Joseph Russo Lic R E Broker Pribe, Mary Jo: Atchley International Realty Purmort, Jennifer: RE/MAX Alliance Group Rapisardi, Nicholas: Neal Communities Realty Inc. Rossman, Geoffrey: Key Solutions Real Estate Grp Sadwin, Howard: One Sarasota Realty Group Sanchez, Cecilio: Keller Williams Rlty Manatee Thompson, Martha: Concordia Realty LLC Toxey, Stacey: Coldwell Banker Res R E Valenti, JoAnne: Keller Williams Lakewood Ranch Welte, Nancy: Keller Williams On The Water Woodard, Julia: Rosebay International, Inc. Wooldridge, Tammi: Exit King Realty

New Affiliates

Arvin Home Inspections

1772 North Drive Sarasota, FL 34239 Phone Number: 941-586-4856 Representative: Greg Arvin Specialty: Home Inspector. A member of The International Association of Certified Home Inspectors (InterNACHI) with a Florida Home Inspectors License.

Email: arvingregg@yahoo.com

Everything Kitchens & Baths

7051 74th Street Circle East Bradenton, FL 34203 Phone Number: 941-400-4237 Representative: Ronald Cuppernell Specialty:Home Repair and Remodeling. Ron is also a Licensed Home Inspector.

Email: ekandb@gmail.com

Florida Blue

285 N. Cattlemen Road Sarasota, FL 34243 Phone Number: 941-308-2046 Representative: Bree Rizzo Specialty: You’re Health Solutions Company. We’re here for the people of Florida with every aspect of their health and wellness—from the major challenges to the everyday moments in between. Our mission— helping people and communities achieve better health—is our reason for existence. It sets us apart

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The first New Member Orientation class at our new facility at 2320 Cattlemen Road was held on May 13th. To mark the historic occasion, we had the group gather outside in the parking lot. Congratulations to all 42 new members, and thanks for being a part of SAR’s 90-year history!

from our competitors because we’re committed to making a difference, not just for our customers, but also for the communities they call home because Florida is our home, too. A non-profit insurance company. Our site provides service care and sales to Florida Blue members and various events for non-members.

Email: bree.rizzo@floridablue.com

Independent Title & Escrow Closings

4370 S.Tamiami Trail #101 Sarasota, FL 34231 Phone Number: 941-906-9663 Representative: Renate J. Rodgers Specialty: Independent Title & Escrow Closing is an allinclusive real estate closing company securing the transfer of a seller’s property to a new buyer. Owner and escrow officer Renate Rodgers ensures all documents are in order, and on the closing date, makes sure everything is recorded with the county. This company has been working on closings in Sarasota County since 1997 and welcomes all real estate transfers. We handle all facets of real estate transactions!

Email: rrodgers42@aol.com

www.sarasotarealtors.com

J. Palermo Moving & Storage

1747 Cattlemen Road Sarasota, FL 34232 Phone Number: 941-445-4856 Representative: Joeseph A Palermo Specialty: Welcome to J. Palermo Moving & Storage. We run our business in a family like manner with honesty and commitment to our customers and pride in our work.

We are aware of the problems that the public faces with moving companies and this is what distinguishes us and our highly regarded reputation. Every move is important.

We will tailor your move to the needs of you and your family and/or organization. We have over 15 years of experience in the moving business. Our array of services, from packing to Rigging and Hoisting, will make your moving experience smooth and worry free. Our standards of safety and professionalism guarantee that every move is a quality move. Our business is guided by absolute adherence to complete customer satisfaction.

Email: joe@palermomoving.com

Sarasota Realtor® Magazine

JUNE 2013

31

E DUCATION & E VENTS C ALENDAR Tuesday

Wednesday

Thursday

Friday

June 3

4

5

6

7

10

11

12

13

14

17

18

19

20

21

24

25

26 12 p.m.

Joint CCIM/CID Event

27

8 a.m.

MLS Express (SAR) 5 p.m. Sales Associate Pre-License Class

9 a.m.

CID Commercial Marketplace (SAR) 9 a.m. Boot Camp 11:30 a.m.

Membership Luncheon (Der Dutchman)

3

4 SAR Closed

5

9 a.m. MLS Basic 1 p.m. Compliance 101 3 p.m. Adding & Modifying Listings 5 p.m. Sales Associate Pre-License Class

9 a.m. Orientation 9 a.m. Adding/Managing Contacts 10:30 a.m. Client Listings 12:30 CMA (3 hrs. CE) 1 p.m. Code of Ethics

9 a.m. MLS Basic 9 a.m. Short Sale Panel 1 p.m. Compliance 101 3 p.m. Adding & Modifying Listings

8:30 a.m.

GRI 300 5 p.m.

Sales Associate Pre-License Class

7:30 a.m.

Toastmasters 9 a.m.

Kim Dickey Seminar

8:30 a.m.

GRI 300

8 a.m.

CID General Membership Meeting 5 p.m.

Sales Associate Pre-License Class

9 a.m. Scheduling & Task Management 10:30 a.m. Agent Management Tools 1 p.m. Transaction Desk

7:30 a.m.

Toastmasters 12 p.m.

RAJC Capacities Seminar

5 p.m. Affiliates After Hours Networking (Gecko’s Hillview)

July 1

2 8:30 a.m.

CID Board 9 a.m.

MFR Courses TBA

7:30 a.m.

Toastmasters

8 a.m.

MLS Express (University Park CC) 5 p.m.

Sales Associate Pre-License Class

8 a.m.

MLS Express (SAR) 2 p.m.

International 201 5 p.m. Sales Associate Pre-License Class

8 a.m.

MLS Express (SAR) 5 p.m. Sales Associate Pre-License Class

9 a.m.

CID Commercial Marketplace (SAR) 9 a.m.

Boot Camp

9 a.m.

CID Commercial Marketplace (SAR)

9 a.m.

CID Commercial Marketplace (MAR)

28

9 a.m.

CID Commercial Marketplace (SAR)

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

My Florida Regional MLS Training

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

Sarasota Association of Realtors®, Inc. 2320 Cattlemen Road Sarasota, FL 34232

Monday

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

JUNE 2013

9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Apr‐12 May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Days on Market 250

Dec‐12

Jan‐13 Feb‐13 Single Family

Mar‐13

Apr‐13

Condo

200 150 100 50 0 Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

Single Family

Sales Volume

Condo

$300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Apr‐12 May‐12 Jun‐12

Jul‐12 Aug‐12 Sep‐12 Oct‐12 Nov‐12 Dec‐12 Jan‐13 Feb‐13 Mar‐13 Apr‐13

New Listings

Single Family Condo

1,200 1,000 800 600 400

Sarasota Association of Realtors® MLS

200 0 Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Apr‐13

The Xtra Pages - Digital Version Only

Single Family Condo

Months of Inventory

First Quarter 2013 Report Single Family Sales ‐ By Quarter

REO

Short

Market

1400 1200 1000 800 600 400 200 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

Condo Sales ‐ By Quarter

2012‐Q3

REO

2012‐Q4

Short

2013‐Q1

Market

700 600 500 400 300 200 100 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

Single Family Median Sale Price

2012‐Q2

2012‐Q3

2012‐Q4

REO

Short

Market

2013‐Q1

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

Condo Median Sale Price

2012‐Q2

REO

2012‐Q3

Short

2012‐Q4

2013‐Q1

Market

$300,000 $250,000

Source: Sarasota Association of Realtors®

$200,000 $150,000 $100,000 $50,000 $0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Single Family Condo

REO Sales ‐ By Quarter 500 450 400 350 300 250 200 150 100 50 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Single Family

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Single Family Condo

Market Sales ‐ By Quarter 1400 1200 1000 800 600 400 200 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Source: Sarasota Association of Realtors®

Annual Sales ‐ 2000 to 2012 Single Family

Condo

Total

11267 10562 9697 8224

8167 7036

6533

9,179 7603

7,596 6,841

6,504

6358

5,603 4,940

4,349

4,353 3,193

2,184

2,096

3,671

3,721

2,564

2,005

6739 6042

5820 4,626

2001

2002

2003

2004

2005

2006

5,466

5,938

3,922

2,120 1,194

2000

5,183

6,570

2007

2008

1,556

2009

2,137

2,286

2010

2011

2,599

2012

Annual Median Sale Price ‐ 2000 to 2012 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Single Family $132,300 $172,500 $191,000 $226,000 $272,500 $351,000 $342,000 $303,000 $230,000 $160,000 $163,000 $155,925 $175,000 Condo

$142,000 $145,000 $173,000 $191,000 $225,000 $305,000 $301,225 $336,250 $320,000 $210,000 $163,000 $156,800 $175,000