Page 1

MAY 2012

The Official Monthly Publication of the Sarasota Association of Realtors®

Super Spring! Page 6

Don’t forget to pay your My Florida MLS or MFCRE annual fees! See Page 5


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Commission incentive available on contracts accepted by DiVosta Homes between 1/01/12 and 12/31/12. In order for Realtor to eligible for 50% advance commissions, buyer must put down 10% (with the exception of FHA/VA and NOLA). NOLA/cash verification must be presented. Broker must sign the Advance Commission Request Form. Brokers are responsible for repaying all advance commissions for homes that do not close. This offer is subject to change or withdrawal without prior notice. 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. 1/09/12. CGC1505166


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Contents

Sarasota Realtor® Magazine Volume 9, Issue 5 MAY 2012

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

6

Solid Recovery

The Sarasota real estate market has witnessed an amazing

spring season in 2012, and seems poised to continue into

the early summer months.

Governmental Affairs Director Marc Mansfield explains the $25 billion National Mortgage Settlement and what it could mean to local Realtors®.

12 Legislative Amendments

Sarasota County Property Appraiser Bill Furst is looking

toward Tallahassee and the many proposed amendments

that could impact local property appraisals.

Volume 9 • Issue 5 •MAY 2012

15 Sales Skyrocket

The March 2012 sales in the Sarasota market hit

a seven-year high, while the median sale prices also saw a big move upward, signs that the recovery is here.

28 WCR Wins Big

In every issue 12- Property Appraiser 15- Sales and Listing Statistics 18- Commercial Investment Division Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24!

29- Global Business Council

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

Editorial Staff Director of Communications Ray Porter

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

Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor ® magazine. A yearly subscription for Sarasota Realtor ® magazine is available to non-members for $25, plus Florida sales tax. Editorial ideas and manuscripts are welcome. Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing. 2012 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

30- Membership

MAY 2012

Immediate Past President Michael Bruno Michael Saunders & Company

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

32- Calendar of Events/Education 4

Treasurer Peter Crowley RE/MAX Alliance Group

Production Coastal Printing, Inc.

10- Governmental Affairs

24- On the SAR Scene

Secretary Stafford Starcher RE/MAX Alliance Group

Director of Membership and Administrative Services Dan Andrews

The Sarasota Chapter of the Women’s Council of Realtors® had the highest percentage of new members and also retention figures in the nation - a tremendous accomplishment!

20- Education Programs

President Laura Benson Michael Saunders & Company President-Elect Roger Piro Town & Country Realty

10 Settlement Details

2012 SAR Officers

Sarasota Realtor® Magazine

www.sarasotarealtors.com


My Florida Regional MLS fees due by May 15th

My Florida Regional MLS and My Florida Commercial Real Estate fees were posted to our members’ MFRMLS account in early April, and are due no later than May 15th. The fee to subscribe to MFRMLS for 2012-2013 will be $360 (June 1, 2012 to May 31, 2013). The fee to subscribe to MFCRE/Catylist for 2012-2013 will be $414 (June 1, 2012 to May 31, 2013). MFRMLS sent out email invoices in early April. All fees must be paid by 5:00 pm on May 15, 2012. To view and pay your MLS invoice please log on to MFRMLS website www.mfrmls. com and select “Pay Your Bill”. Any questions concerning your invoice should be directed to MFRMLS/MFCRE at 1-800686-7451.

KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy

District 13 Conference set June 22 Join hundreds of Realtors® from all over the SunCoast Area for the Florida Realtors® District 13 Conference & Trade Show on June 22nd at the Charlotte Harbor Event and Conference Center. This dynamic event will include more than 16 breakout sessions, a large Real Estate tradeshow, technology demos, a keynote speaker, and LUNCH - all for the amazingly low price of $20.12! Register by June 1st and you will automatically be given the chance to win a new iPad. The first 100 Realtors® to register will be given an additional chance in the iPad drawing. Visit www.sarasotarealtors.com and look under Hot Topics!

Barb Zdziarski named SAR Affiliate of Month for May

Barb Zdziarski has been named SAR Affiliate of the Month for May 2012. Barb represents Paradise Homes of Sarasota and the Viking Culinary Center on Main Street in Lakewood Ranch. Both businesses, and Extreme Remodelers of Sarasota are owned by Jim Butler. Paradise Homes builds in Lakewood Ranch and throughout the greater Sarasota area. The LWR Viking Culinary Center Barb Zdziarski offers a variety of retail products, cooking classes, private events, etc. Visitors are also able to view a variety of materials used in the construction of Paradise Homes. Barb was born in Paterson, NJ, taught Kindergarten for 30 years in Framingham, MA and has lived in LWR for 12 years. Barb was one of the Realtor® Liaisons for LWR for many years. She can be reached at 941-961-0227, or by email at bzdzi@verizon.net, or visit www.paradisesarasota.com or www. lwrviking.com. www.sarasotarealtors.com

Call 941-366-1300 For A

FREE CONSULTATION

Sarasota Realtor® Magazine

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.

MAY 2012

5


Cover Story 6

A Spring to Remember!

2012 has brought a resurgence that has built for years

S

See Related Article, Page 15

Spring!

The word itself is alive with meaning and childhood memories for most of us. The warm breezes and winter thaw, the scents and sights of colorful blossoms, and signs of new life emerging. In local real estate circles, spring has come to mean a seasonal surge of customers, offers and sales. The period after the winter holidays and before Easter has often been a make-or-break time for local agents and brokerages. Our winter residents often make their property buying and selling decisions in the spring. Families relocating to Sarasota often select their new homes in the spring, prior to the start of the school year in the fall. For the past few years, however, the seasonal surge has been somewhat muted by the economic tribulations facing our nation. The numbers haven’t been as robust, the sales not as spectacular, the open houses not as filled with prospective buyers as they had been. But in 2012, Spring has returned - with a vengeance! Local real estate agents have reported an amazing resurgence, and return to the heady days of 20042005, when buyers were plentiful, the available inventory was tight, and competition for homes and condos on the market was - well - very competitive! It’s important at this point in the real estate market recovery to remember just how far we’ve come. The low point of the past six years was registered in November 2008, when only 311 properties changed hands in the SAR market. There were 244 single family home sales and 67 condo sales that month, and SAR members were understandably distressed. The national economy was in tough shape, shedding hundreds of thousands of jobs on a monthly basis as 2008 drew to a close. The median sale prices started dropping quickly at that point, from $285,000 for a single family home MAY 2012

in April 2008 down to $142,000 in February 2009 a drop of 50 percent in a span of only 10 months. The median sales prices bottomed out in February 2011 - two years later - when they hit $137,500 for both single family and condominiums. It was a major drop from the dizzy heights of the housing market in January 2006, when median sale prices reached a record $391,250 for single family homes and $405,000 for condos. Local Realtors® have kept current with the news as the real estate market dropped, showed brief signs

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H H

H

H

H

H H H H H

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of recovery, dropped again, and then settled into a slow decline. Most adjusted to the new reality, convincing their clients to lower their asking prices and expectations of a quick sale. Short sales and foreclosures began to flood the market, and SAR members received a steady diet of educational seminars, courses, and materials to help them achieve success in this new arena. It has been many years, but the current climate is vastly improved. March 2012 was notable for many strong real estate statistics - most sales in a month (831) since September 2005; highest median sales prices in

Sarasota Realtor® Magazine

Continued on P. 8, See SPRING

www.sarasotarealtors.com

CG rep

SARa


HORTON HOT DEALS 5 CO-OP! %

ADDISON MANOR - RUSKIN Homesite 3701 Homesite 5103

Gardenia B - 4 bed, 2.5 bath, 2 car Aster B - 3 bed, 2 bath, 2 car

PANTHER TRACE - RIVERVIEW

2199 sq. ft. 1965 sq. ft.+ +

$175,990 $159,990++ ++

COVERED BRIDGE - ELLENTON Homesite 75

Hibiscus B - 4 bed, 2.5 bath, 2 car

2498 sq. ft.

Marigold D - 3 bed, 2 bath, 2 car

1749 sq. ft.

Laurel B - 3 bed, 2 bath, 2 car Juniper B - 4 bed, 2 bath, 2 car

$189,990

+

$151,990

1808 sq. ft. 1899 sq. ft.+ +

++

SOLD $168,990++

Santa Barbara - 2 bed, 2 bath, 1 car Santa Barbara - 2 bed, 2 bath, 1 car Santa Cruz - 3 bed, 2.5 bath, 2 car Catalina - 3 bed, 2.5 bath, 2 car Santa Cruz - 3 bed, 2.5 bath, 2 car

1200 sq. ft.+ 1200 sq. ft.+ 1635 sq. ft.+ 1481 sq. ft.+ 1635 sq. ft.+

SOLD $142,890++ SOLD SOLD $168,490++

LITTLE RIDGE - NEW PORT RICHEY Homesite 82

Santa Barbara - 2 bed, 2 bath, 1 car

1200 sq. ft.+

$89,990++

1965 sq. ft.+

SOLD

1808 sq. ft.+

$255,990++

MIRA LAGO - RUSKIN Homesite 580

Aster B - 3 bed, 2 bath, 2 car

OAK VISTAS - SARASOTA Homesite 5

Laurel D - 3 bed, 2 bath, 2 car

OLD TAMPA ESTATES - PARRISH Homesite 3

Sandpiper B - 3 bed, 2 bath, 3 car

2019 sq. ft.+

$205,490++

2752 sq. ft.+

$215,990++

2498 sq. ft.+

$211,990++

RYE WILDERNESS ESTATES - BRADENTON Homesite 6202 Langford D - 4 bed, 2.5 bath, 3 car

KINGLET RIDGE AT FISHHAWK RANCH - LITHIA Homesite 151 Homesite 161 Homesite 163 Homesite 362 Homesite 363

Juniper E - 4 bed, 2 bath, 2 car

RIVERPLACE - RIVERVIEW

++

GREENS AT HIDDEN CREEK - WESLEY CHAPEL Homesite 7 Homesite 11

Homesite 2122

Homesite 0603 Hibiscus B - 4 bed, 2.5 bath, 2 car +

CROSS CREEK AT SUMMERTREE - NEW PORT RICHEY Homesite 44

*

2520 sq. ft.+

$300,990++

SCHOONER COVE - SOUTH TAMPA Unit 299

Catalina - 3 bed, 2.5 bath, 2 car

1481 sq. ft.+

SOLD

SEVEN OAKS - WESLEY CHAPEL Homesite 2767 Bridgeview C - 4 bed, 3 bath, 3 car Homesite 3467 Gardenia C - 4 bed, 2.5 bath, 2 car

2150 sq. ft.+ 2199 sq. ft.+

$253,990++ SOLD

SUGAR MILL LAKES - PALMETTO Homesite 40

Bridgeview B - 4 bed, 3 bath, 3 car

Homesite 98

Hibiscus D - 4 bed, 2.5 bath, 2 car

2150 sq. ft.+

$185,990++

TERRA BELLA - LAND O’ LAKES 2498 sq. ft.+

SOLD

VILLAGES OF AVALON - SPRING HILL Homesite 323 Homesite 1824

Gardenia B - 4 bed, 2.5 bath, 3 car Wisteria A - 4 bed, 2 bath, 2 car

2199 sq. ft.+ 2701 sq. ft.+

$174,140++ $195,555++

WHISPERING OAKS - BRANDON Homesite 46

Sorrento - 3 bed, 2.5 bath, 1 car

1516 sq. ft.+

SOLD

WHISPERING WOODS - PLANT CITY Homesite 63 Homesite 112

Wisteria B - 4 bed, 2 bath, 2 car Juniper E - 4 bed, 2 bath, 2 car

2701 sq. ft.+ 2752 sq. ft.+

$225,391++ $212,445++

HortonReadyNow.com • 866.475.3347

Voted America’s #1 Homebuilder for 9 Years in a Row!** Awarded Builder Magazine’s 2010 “Builder of the Year”** D.R. Horton Tampa/Sarasota CGC1513647 *5% co-op earned and paid at closing and valid only on inventory homes listed on this ad that are sold by 4/1/12 and closed by 9/30/12. **As reported by Builder Magazine. +Square footage dimensions are approximate. Please contact a sales representative for details. ©2011 DR Horton, Inc. All rights reserved. ++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.

SARad4.3.indd 1

4/3/2012 12:00:48 PM


SPRING From Page 6

months; highest number of pending sales in a year; third lowest level of inventory in a decade. But perhaps the single number that stands out the most is 4.8. That’s the number of months of inventory for single family homes. That means at the current rate of sales, we’d be out of stock in less than five months! “It’s great to see that we’ve come so far from the days of 2008, when the months of inventory hit 25 months for single family and 40 months for condos,” said SAR President Laura Benson. Benson noted that the months of inventory is crucial in determining how the market dynamics will impact the median sale prices going forward. Economics 101 teaches us that lower inventory, combined with high demand, means competition should heighten for available properties. On top of that, there are less distressed properties (foreclosures and short sales) on the market now than in the past several months. The appeal of distressed properties also appears to be waning, perhaps due to the often difficult and time-consuming purchase process. The disparity between pricing for the average foreclosed single family home and the normal market sale is striking. In March, the median sale price was $92,000 for a foreclosure, compared to $227,000 for a normal market sale. The lower percentage of distressed sales will naturally be reflected in higher overall median prices. Market appreciation is an historic driver of sales. Buyers purchase homes for a variety of reasons - one of them being the acquisition of a major investment. Appreciation naturally makes that investment work wonders, as the home often becomes the family’s biggest personal measure of net worth. As property appreciation returns to more historical levels (in Sarasota, that has meant 5 to 8 percent annual appreciation), the lure of real estate grows. And, unlike most investments, there are added benefits of real estate investment - you can reside in your investment; borrow money against your investment; and purchase your investment with lower interest rate loans, often lower than the rate of appreciation. Current mortgage interest deductions also help make the real estate investment a logical decision for growing families. You can lower your tax burden substantially through the mortgage interest deductions now available. There’s a reason home ownership is called the American Dream. People aspire to home ownership for the financial

8

MAY 2012

and social benefits it conveys. The United State government supports home ownership because it’s good for communities and the nation’s economy. While the industry has taken a hit in the past few years, and some have tried to argue that investment in real estate isn’t the wise choice it used to be, many would vehemently disagree. In 2011, the NAR Public Awareness Campaign reminded consumers that home ownership not only benefits families, it also helps build strong communities and creates jobs. The 2012 campaign, “Housing First,” explains the impact of home ownership on the nation’s economy.

For example: - For every two homes sold, one job is created. - Each home purchased pumps up to $60,000 into the economy. - Home ownership accounts for over $2 trillion of the U.S. GDP. Despite the historic downturn, there is still a bright future in real estate in the United States, and particularly here in Sarasota. We’ve come so far, and the future appears to be even brighter!

Sarasota Realtor® Magazine

www.sarasotarealtors.com


Rally to Protect the American Dream May 17th A Message from NAR President Moe Veissi Back in February, I asked for your help in making the Rally to Protect the American Dream a huge success. And your response and support have been overwhelming. You all sprang into action immediately and as a result Realtors® from across America have heeded the call to be in Washington on May 17. In fact, it has turned out to be so successful that we have outgrown our original rally location at the Upper Senate Park! We have made a “monumental” change and are now holding the rally at the Washington Monument. Our Realtor® sea of blue will gather at the foot of our finest tribute to America’s First Father, on the National Mall, home to so many historic marches and rallies. To our back will be the Lincoln Memorial and the Reflecting Pool, to our side the White House and Treasury Building. Our visibility will be greater and impossible to ignore. Stay tuned for information about needed adjustments to bus logistics. We will be in touch with all of you who have requested buses and with those members planning to take public transportation to the rally with an updated list of Metro stops. If you are attending the Midyear meetings, you will be bused to the proper location or given directions for taking Metro to the National Mall. NAR 2012 Federal Public Policy Priorities Many Realtors® are asking the questions - why are we having this rally? Are there specific bills or legislation we are trying to pass or defeat? What is the urgency? Congress faces a myriad of real estate issues every year. What makes this year unique is that for the first time the American dream, as we know it, is under attack. It’s time to remind Congress that owning a home is an indispensable thread of the American fabric. Realtors® need to protect home ownership in America for today and tomorrow. This is an election year, giving Realtors® an excellent opportunity to present our critical issues to Congress before voters head to the polls in November. This rally serves to remind Congress, as they address the issues listed below, that Realtors® are demanding action. As Realtors® we have an obligation to protect, not only the millions of current home owners, but the future generations of Americans who want to own a home or other real property. We are rallying to tell Congress, first do no harm to real estate. A full and lasting economic recovery will only occur with a vibrant real estate sector leading the way. We are rallying to tell Congress that Realtors® are not sitting on the sidelines waiting for action. This is why we need you to come to Washington to demand action, for homeowners, for our communities and for our nation. www.sarasotarealtors.com

One of the top issues is taxation. An exploding federal debt has forced tax reform into the limelight. In December 2010, a deficit reduction commission offered a variety of models for both simplifying the tax code and increasing the amount of revenue it generates. The combination of the deficit, the need to increase the US credit limit (aka the debt ceiling) and the fragile economy have lined up to force a major political debate about the relative mix of spending and revenue. As a result, a variety of tax laws, including those affected by commercial and residential real estate, could be reviewed with a focus on raising revenue. • Mortgage Interest Deduction: NAR opposes any changes that would limit or undermine current law. In 2011, NAR secured 183 bi-partisan co-sponsors for H. Res 25 which “expresses the sense of the Congress that the current Federal income tax deduction for interest paid on debt secured by a first or second home should not be further restricted.” • Capital Gains - Exclusion on Sale of Residence: NAR opposes any changes that would reduce or limit the capital gains exemption ($250,000/$500,000) on the sale of a home. • Property Tax Deduction: NAR opposes any changes that would reduce or eliminate current laws. Other major issues include real estate finance, property insurance, appraisal issues, and various commercial real estate issues. On the commercial front, More than $1.2 trillion in commercial real estate loans will come due over the next few years, and many of these deals will have trouble getting financing. NAR supports protecting and enhancing the flow of capital to commercial real estate. Please consider attending this year’s Rally to Protect the American Dream on May 17th!

Sarasota Realtor® Magazine

MAY 2012

9


Governmental Affairs 10

National Mortgage Settlement and Realtors®

O

By Marc Mansfield Governmental Affairs Director

On Monday, March 12, 2012, the federal government released details of the $25 billion National Mortgage Settlement stemming from improper foreclosures and other deceptive practices in the origination and servicing of mortgages. The agreement with Bank of America Corporation, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup Inc., and Ally Financial Inc. (formerly GMAC) is designed to provide eligible homeowners with relief as well as prevent future abuses. Along with billions of dollars of relief for homeowners, the servicers are required to implement across-the-board servicing standards meant to improve borrower communication and provide servicing consistency among five of the largest servicers. NAR has advocated for many of the servicing standards addressed in the settlement. These standards will help keep families in their homes and, if that is not possible, will assist in streamlining the short sale and other loss mitigation processes. Here are five initial takeaways from the settlement that will impact real estate transactions: 1. Short Sale Timeline. The settlement contains short sale standards that are similar to the Treasury Department’s Home Affordable Foreclosure Alternative, or HAFA, program. A number of these standards will improve the short sale process including making short sale requirements publicly available, development of co-op programs to evaluate short sales prior to marketing the home, and the implementation of a 30-day response requirement after receipt of all required information and third party consents. 2. No Dual Tracking. As part of the settlement, the five servicers will no longer be able to proceed with a foreclosure sale if a short sale or deed-in-lieu of foreclosure

MAY 2012

has been approved by all parties (first lien investor, junior lien holder, and mortgage insurer, as applicable) and proof of funds or financing has been provided to the servicer. Servicers will also face strict foreclosure referral guidelines if borrowers have requested a loan modification. 3. Single Point of Contact. NAR has long called on servicers to establish a single point of contact for borrowers. This provision will not only assist in maintaining consistency and coordination of loss mitigation options, but will reduce the amount of time agents and brokers spend discussing individual short sale files with new negotiators. 4. Establishment of Loan Portal. Though processes have recently improved, many members report that lost documents requiring multiple submissions continue to cause delays. The five servicers have agreed to consolidate information for borrowers by developing online loan portals that will provide borrowers with access to information, eligibility factors for loss mitigation programs, and inform borrowers of required documentation that is missing. 5. Strong Enforcement Mechanism. The success of a number of well-intentioned programs has been hampered by voluntary servicer participation and a seeming lack of compliance oversight. The five national banks party to the settlement will be required to regularly report compliance to an independent, outside monitor that reports to state attorneys general. State attorneys general and the U.S. Department of Justice can seek redress if the banks don’t follow the settlement terms. The servicing standards and relief requirements will be implemented over the next several months and will be prioritized based on the importance to borrowers and difficulty of implementation. For more information on this settlement visit the web site www.nationalmortgagesettlement.com

Sarasota Realtor® Magazine

www.sarasotarealtors.com


NESTING

Tuesday-Saturday 10:30AM- 5:30PM Monday by Appointment 1540 Main Street Sarasota, FL 34236 941.366.0941 BlackBirdHomeGallery.com


Property Appraiser

Legislative session produces amendments

MAKING AMENDSMENTS

We all know Florida is a recreation paradise. Every season has its special pastimes, whether it is baseball in the spring, football in the fall, or the variety of outdoor activities we all enjoy every year when the weather cools down. And then there’s By Bill Furst, GRI, CRS, CRB the annual legislative session in Tallahassee. The Honorable Representatives and Sarasota County Senators just finished their 2012 session resulting in a plethora of proposed Property Appraiser amendments We affecting property values and taxes paradise. that will appear on thehas its special all know Florida is a recreation Every season November ballot andwhether could, if it passed by theinvoters, resultfootball in dramatic reductions pastimes, is baseball the spring, in the fall, or the in local property varietytax ofrevenues. outdoor activities we all enjoy every year when the weather cools

W

This information is drawn from the legislature’s Revenue Estimating Conference (REC) analysis of the proposed amendments. These state-wide estimates were made assuming current millage rates.

down. And then there’s the annual legislative session in Tallahassee.

House Joint Resolution 381 isRepresentatives a cornucopia ofand capped valuejust andfinished exemption The Honorable Senators their 2012 enhancements, all of which would have a serious impact on local governments. session, resulting in a plethora of proposed amendments affecting property values andintaxes that will appear value on theincrease November ballot and could, if  A reduction the annual assessed for non-homestead passed by the voters, result in dramatic reductions in local property tax properties from 10% to 5%. revenues.  The suspension of the recapture rule for assessed value increases on House property Joint Resolution 381 is a the cornucopia of capped valueIf and homestead in any year when market value declines. the exemption enhancements, all of which would have a serious impact on market value goes down the assessed value would not go up by 3% or the local governments. change in the Consumer Price Index whichever is lower. • A reduction in the cap on the annual assessed value increase for non An additional Homestead for “first time” homesteaders who have not homestead properties from 10% to 5%. received a homestead exemption in the previous three calendar years. • The suspension of the recapture rule assessed value The exemption would be equal to 50% of theforjust value of the increases property,on homestead property in any year when the market value declines. If the capped at value the median just value of homestead property market goes down, the assessed value would notingothe upcounty by 3%and or the would apply only to non-school taxes. The exemption would reduce by change in the Consumer Price Index whichever is lower. 20% •each year over 5Homestead years. An additional for “first time” homesteaders who have

not received a homestead exemption in the previous three calendar years.

This appears to be an all or nothing proposition. voting for one and The exemption would be equal to 50% ofNothe just value of part the property, capped at the median just value of homestead property in the county and not another.

would apply only to non-school taxes. The exemption would reduce by each year 5 years. House Joint20% Resolution 93 over provides for tax relief equal to the total or a portion of This appears to be an all or nothing proposition. Nospouses voting for the ad valorem taxes owed on a homestead property for surviving of one part and not another. veterans who died of service connected causes while on active duty and a member House Joint 93 provides tax relief equal to the total of the US Armed Forces andResolution surviving spouses of lawfor enforcement officers, or a portion of the ad valorem taxes owed on a homestead property for correctional officers, firefighters, EMT’s or paramedics who died in the line of duty. surviving spouses of veterans who died of service connected causes while on active duty and a member of the US Armed Forces and surviving Senate Joint Resolution 592 extends the property tax discount available on the spouses of law enforcement officers, correctional officers, firefighters, homesteadsEMT’s of combat-related disabled veterans veterans or paramedics who died in theto line of duty.who were not Florida residents at the time of entering military service. The Florida Department of Senate Joint Resolution 592 extends the property tax discount available Veterans Affairs there around 74,000 veterans who might qualify. on theestimates homesteads ofare combat-related disabled veterans to veterans who were not Florida residents at the time of entering military service. The House JointFlorida Resolution 169 proposes an additional property tax exemption equal Department of Veterans Affairs estimates there are around 74,000 veterans might qualify. for low-income seniors whose just value is to the assessed valuewho of the homestead less than $250,000, have owned and occupied homesteadproperty propertytax for Housewho Joint Resolution 169 proposestheir an additional exemption equal assessed value of the homestead forgross low-income at least 25 years, who are 65to orthe older, and whose household adjusted seniors whosethe justannual value is less thanlimit. $250,000, have owned and income does not exceed published This is who a local option occupied their homestead property for at least 25 years, who are 65 or exemption – the same as the existing senior exemption. The county and the older, and whose household adjusted gross income does not exceed the municipalities would have to pass an ordinance authorizing the exemption from annual published limit. This is a local option exemption – the same as the their respective tax senior levies. exemption. The county and the municipalities would have existing to pass an ordinance authorizing the exemption from their respective tax House Jointlevies. Resolution 1003 proposes and additional exemption on Tangible Personal Property, from $25,000 to $50,000. As with HJR 169, this is House(TPP), Jointvalued Resolution 1003 proposes an additional exemption on For more a local option exemption. If approved voters in November, the county and As Tangible Personal Propertyby (TPP) valued from $25,000 to $50,000. information, with HJRhave 169, to this is a local option exemption. If approved by voters municipalities would adopt it by ordinance. in November, the county and municipalities would have to adopt it by contact the ordinance. Property Appraiser’sWhat didn’t make Whatitdidn’t it out of for the year in a row, out ofmake committee, forcommittee, the fourth year in afourth row, were House Billwere House 133 andwould Senatehave Bill implemented 156, which would have implemented office at 133 and Senate BillBill 156, which the renewable energy the renewable energy device provision of the Constitution, adopted by voters 941.861.8200. device provision of the Constitution, adopted by voters in 2008. Maybe next year. in 2008. Maybe next year. 12

FISCAL IMPACTS OF THE PROPOSED CONSTITUTIONAL AMENDMENTS ON LOCAL GOVERNMENTS.

MAY 2012

Sarasota Realtor® Magazine

HJR 381: Negative impact of the lower nonhomestead cap on non-school tax revenues would be $118.1 million in FY 2013-14 growing to $406.5 million by FY 2015-16. Negative impact of the changes to the “recapture rule” on property tax revenues would be $16.5 million in FY 2013-14 and $40.2 million recurring. Negative impact of the “first time homesteader” provision would be $38.1 million in FY 2013-14 with a recurring negative impact of $159.3 million. HJR 93: Negative impact on tax revenues would be $0.6 million on property tax revenue in FY 2013-14. SJR 592: Negative impact of expanding the property tax discount would be $2.4 million in FY 2013-14, $4.9 million in FY 2014-15, and recurring negative impact of $7.6 million. HJR 169: The REC had to make several assumptions on this one, not just millage rates. Their projection of negative impact is based on all jurisdictions currently offering the senior exemption adopting the new one. The estimated negative impact on tax revenue is $9.1 million in 2014-15 and $9.4 million in FY 2015-16. HJR 1003: The REC estimates the negative revenue impact may be $20.1 million beginning in FY 2013-14. They acknowledge the difficulty of predicting which counties or municipalities might choose to adopt the exemption in their respective jurisdictions.

www.sarasotarealtors.com


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First Quarter 2012 Distressed Property Report Total Sales ‐ By Quarter

REO

Short

Market

1600 1400 1200 1000 800 600 400 200 0 2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2*

The big question on the minds of many Realtors® is the same question that has been at the forefront for many months - will the local market continue to see a high level of distressed properties, or is the worst behind us? Judging strictly from the statistics, it appears that the highest surge of foreclosures and short sales occurred in the second quarter of 2010, when the figure reached more than 50 percent of overall sales. Both in terms of raw numbers, and the percentage of overall sales, that remains the peak period. While there was another wave of disressed sales in the first quarter of 2011, that has since subsided in both numbers and particularly in the overall percentage of sales. The first quarter of 2012 saw the number of normal market sales climb from the lull experienced in late 2011, while distressed sales dropped for short sales and remained steady for foreclosures in both the condo and single family categories. The surge in normal market sales has helped lower the percentage of distressed sales to the 36-percent level - still very high by historical standards, but far below the peak of 51 percent almost two years ago. This has meant a rise in the overall median sale prices for properties in the Sarasota market, as normal market forces begin to take effect. There is another school of thought that says there remains a “shadow 14

MAY 2012

2010‐Q3

2010‐Q4

2011‐Q1

inventory” of distressed properties that financial institutions will release into the market in the coming months, which could have a detrimental impact on the hoped for complete market recovery. However, some experts involved in the foreclosure process, including Judge Lee Haworth of the 12th Judicial Circuit Court, told SAR members

Sarasota Realtor® Magazine

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

at our First Quarter Membership Luncheon that he doesn’t see any clear evidence that this is the case. Regardless of what comes, SAR members have received a very high degree of education on the distressed sales arena in the past few years, and seem ready and prepared to meet the challenges.

Source: Sarasota Associationwww.sarasotarealtors.com of Realtors®

T


March sales hit seven-year high; median prices up

T

The Sarasota real estate market saw sales climb to a sevenyear high in March 2012, with 831 properties changing hands during the month. Not since September 2005 has the local real estate association seen sales at that level. In addition, pending sales (which represent properties that went under contract during the month) reached the highest level in 12 month, another good indication that the current market surge will continue in the next few months. “This is amazing news, and our local brokers and agents should be extremely proud of all their hard work and diligence, helping buyers and sellers make their dreams come true,” said SAR President Laura Benson. “The strength that the Sarasota market has demonstrated in the past few months has been remarkable, and I’m looking forward to a continuing resurgence in local real estate. Property sales drive so many other elements of the local economy, and that means more jobs, higher salaries, and a better overall community.” In addition to the high level of sales – 596 single family homes and 235 condos sold – the median sale price for both categories hit a high for the year in March. The median sale price for condos was $192,000, a level not seen since May 2011, and was 11 percent higher than last March. Single family was at $174,900, a level not reached since June 2011, and 9.8 percent higher than last March. The reason for the price resurgence is likely tied to the lower number of distressed property sales. The total number of distressed sales, foreclosures and short sales, fell to only 32 percent from 37.4 percent in February 2012 – a three-year low. Pending sales continue to soar, which signals a likely continuation of a high number of closings in the next 60 to 90 days. A total of 1,191 properties went under contract in March 2012, a level not seen since last March. Another positive sign was the drop in the available inventory of homes on the market. The number fell to 4,463 from February’s total of 4,588. The level is close to the decade low figure of 4,408 in August 2011, and the combination of high sales and low inventory has dropped the months of inventory to eight-year lows. Not since 2004 has the market seen a figure of 4.8 months of inventory for single family homes and 6.7 months inventory for condos. Lower inventory and higher sales normally result in greater competition for available properties, which tends to push prices up. “It’s great to see that we’ve come so far from the days of 2008, when the months of inventory hit 25 months for single family and 40 months for condos,” said Benson. “The www.sarasotarealtors.com

“This is amazing news, and our local brokers and agents should be extremely proud of all their hard work and diligence, helping buyers and sellers make their dreams come true.” - SAR President Laura Benson

real estate agents who stuck with it through those difficult months are certainly glad they did, now that we’ve turned the corner.” Single family home prices are now 21.4 percent higher than the low of the market reached 13 months ago, while condo prices are almost 30 percent higher than the low point. Currently, only 701 properties for sale in the MLS are distressed listings (short sales and foreclosures), or roughly 15 percent of the market. In February 2012, the figure was 740 (16 percent of the market), and in January 2012 it was 812 (17 percent of the market). If this percentage continues to trend lower, we could begin to see median sales price increases going forward. “The Sarasota market appears to be leading the nation into a new, dynamic period in real estate,” noted Benson. “While no one can predict the future, certainly all the vital signs of the economy have been moving in the right direction for many months, so I’m very hopeful we will see continued growth in our area.”

Sarasota Realtor® Magazine

MAY 2012

15


Sarasota MLSSM Statistics - March 2012 Unit Sales

Single Family

Condo

700 600 500 400 300 200 100 0 Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

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 

2,887

596

20.6

175

$174,900

$161,000

4.8

822

28.5

788

144

This Month  Last Year 

3,486

580

16.6

183

$159,250

$159,950

6.0

889

25.5

523

176

2,972

414

13.9

171

$167,500

$160,000

7.2

793

26.7

795

154

1,400

171

$167,500

2,338

2,418

Nov 95.3 -

Dec 94.8 -

Last Month  YTD 

2011 2012

Jan 94.5 95.4

Feb 94.1 94.2

Single Family – Sale Price Vs. List Price % Rates

Mar 94.7 94.6

Apr 94.1 -

May 94.2 -

Jun 94.3 -

Jul 94.1 -

Aug 94.5 -

Sept 95.2 -

Oct 95.1 -

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of April 10th, 2012, 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

MAY 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com


Sarasota MLSSM Statistics - March 2012 Single Family Condo

Inventory 4,000 3,000 2,000 1,000 0 Mar‐11 Apr‐11 May‐11 Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11 Dec‐11

Jan‐12

Feb‐12 Mar‐12

Single Family Condo

Pending Sales 1000 900 800 700 600 500 400 300 200 100 0 Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Condo   This  Month  This  Month  Last Year  Last  Month  YTD 

2011 2012

#Active

#Sold

%Sold

Average DOM 

Median Sale  Prices 

Median Last  12 Months 

Months of Inventory 

Pending Reported 

%Pending

# New  Listings 

# Off  Market 

1,576

235

14.9

187

$192,000

$162,500

6.7

369

23.4

372

145

2,015

220

10.9

195

$173,000

$160,000

9.2

319

15.8

280

212

1,616

177

10.9

212

$150,000

$160,000

9.1

337

20.8

323

166

‐  

566

202

$178,500

946

1,049

Nov 93.6 -

Dec 92.7 -

Jan 93.4 93.1

Feb 91.2 93.5

Mar 92.2 94.2

Condo – Sale Price Vs. List Price % Rates Apr 93.4 -

May 94.5 -

Jun 94.2 -

Jul 92.5 -

Aug 93.1 -

Sept 92.8 -

Oct 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

MAY 2012

17


Commercial Investment Division

Feeling good about Sarasota community?

E

By Brad Lindberg CID President

Every day we look for the signs that our economy is getting better. It’s the little indicators that signal a recovery, such as the increased wait for a seat at a restaurant or the bumper to bumper traffic on the roads. It’s the articles in the newspaper about the robust sales of homes and how the snowbirds are flocking to our area to enjoy our incredible beaches. We look around us and there is a feeling of hope. We want to be optimistic and look to the positive and try not to dwell on the negative. We want to believe that our darkest days are behind us. We see the light at the end of the tunnel. Although we start to peer out of our homes and smell the warmth of the sun thawing our cold dark period of recession, there is still a languishing fear that we are not there yet. It’s the uneasy feeling of being too eager to venture out into an economy that is still very fragile. An economy that was once driven by confidence and hope still seems so far away, but is close enough to tempt us to stick our toe back into the water. One of the most impressive rites of spring is Easter Sunrise Service on Siesta Beach. Each year, thousands of believers make the pilgrimage to the whitest sands in the world to share the story of the resurrection. People of all faiths make the journey in the morning darkness to welcome the spirit of hope for our lives to be saved and have our children grow up in a

CID slates meetings for May 2012 CID General Membership Meeting Date: Tuesday, May 15th, 8:30 a.m. Location: SAR Auditorium Program: Randall Reid, Sarasota County Administrator, will address the organization concerning the topic “County Administration.” CID Members Only

Officers:

MAY 2012

Commercial Marketplace Sessions - Friday, May 4th, 9 a.m. – SAR Auditorium - Friday, May 11th, 9 a.m. – SAR Auditorium - Friday, May 18th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, May 25th, 9 a.m. – SAR Auditorium

2012 CID Officers & Directors Directors:

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

18

better place. Our hearts are lifted by the warmth of the rising sun. On this particular Easter Sunday, the offering was to be designated to a program in conjunction with Sarasota All Faiths Food Bank to help feed children in need at one of our community elementary schools. The program has been in place for many years and in the past represented about 20% of the students. This year, approximately 54% utilize the program, and it is estimated that the real number could be as high as 60 to 70%. These children represent the offspring of our workforce, a workforce that has been decimated by the recession. These are children in need. While we all hope that things are getting better, the overall impact of this recession clearly is still being felt in our community. What makes this story so special is the impact it made on the assembly of worshipers who were moved to help these children in need. Without exception, people got out of the comfort of their chairs to search out the collectors of the offering to help make a difference. This is what exemplifies us as a communit. The spirit to rise from our deepest despair and revive our community is abundant. We still have a long way to go, but I’m feeling good about our community. Our own Association is active in many of the community-based charities, and the people who share our goal for family and community are the reason for our sustained recovery.

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

Sarasota Realtor® Magazine

www.sarasotarealtors.com


Six threats to real estate investment, and how to respond By Mariwyn Evans Realtor® Magazine

What are the current threats to commercial real estate, and how should we respond 1. The Threat: External forces that could tip the economy into recession. A critical geopolitical event elsewhere, deteriorating debt conditions in Europe, an increasing debt-to-GDP ratio in the United States, or further downgrading of our nation’s credit rating could all push the U.S. and global economy into a recession. Your Best Defense: Stick with the basics. Invest in properties in good locations with good loan terms, stable leases, and reasonable return expectations. Pick relatively recession-proof property types like apartments or grocery-anchored retail. If you are involved in property management, do what’s necessary to retain good tenants. 2. The Threat: Increased interest rates. The Federal Reserve has announced that it intends to keep the federal funds rate low at least until 2014, but it will eventually increase short-term rates to fight inflation. Higher mortgage interest rates will follow. Your Best Defense: Lock in low rates now. Despite the postcredit crunch trend toward deleveraging, smart investors should borrow as much as property cash flow will allow and lock in longer-term loans now. Don’t wait until the note comes due. 3. The Threat: Stingy capital and strict credit requirements. Although U.S. banks are generally healthy, there is an increasing lack of liquidity in European banks, insurance companies, and pension funds. All the stress keeps lenders cautious and loan requirement stringent. Your Best Defense: Seek out equity and debt capital www.sarasotarealtors.com

aggressively. Act immediately to lock down money for investments in 2012. Another option is to build up cash by selling a few properties or increase the leverage on existing loans. This will put you in a position to self-fund investments. 4. The Threat: Washington gridlock and repressive regulations. Whether it is increasing healthcare costs, the outdated 1980 Foreign Investment in Real Property Tax Act, or the proposed risk retention rules affecting asset-backed securities, the cost of federal regulations is increasing borrowing costs and decreasing liquidity, particularly in the secondary and tertiary markets. Your Best Defense: Support real estate organizations working to reform or repeal onerous regulations. Write your legislators and hold elected representatives accountable for their actions. Use the ballot box to support candidates with a business vision and a commitment to a more stable political climate. Visit realtoractioncenter. com for information about NAR’s Calls for Action. 5. The Threat: A 2012 hiccup in property values. With transaction volume and values flattening in late 2011, it’s possible Sarasota Realtor® Magazine

that commercial property values will experience a slight decline this year, or at least increase more slowly than alternative investments. On the other hand, slowing activity could indicate a further stabilization in the market, which could prevent overheating. Your Best Defense: Base your investment decisions on good research. Analyze data on return expectations and lower your return estimates if the economy deteriorates. Consider selling nonperforming assets if you can get a fair price. 6. The Threat: A value bubble in Class A properties. Some investors—flush with cash and seeking the safety of high-quality assets— are already paying top dollar for prime properties. If prices for such properties keep climbing, investors who fear they’ll miss an opportunity may jump too quickly and overpay. Your Best Defense: Stick to your investment metrics. Determine your return requirements, benchmark your investment decisions, and trust your gut. Source: Ken Riggs, CRE, Real Estate Research Corp., Chicago MAY 2012

19


Education Programs

Pat Zaby teaches new CRS course

through direct mail and social networking. • Services every homeowner wants • Branding to meet your customers’ needs • Resources for social media updates • Telling your story so people will listen The Council of Residential Specialists (CRS) is offering a hot new course. • Increase top of mind Repeat and referral customers account awareness for the majority of transactions, and • Build your presence with relationships influence agent selection. Facebook and Twitter Maintaining top of mind awareness Pat Zaby is a national speaker is the determining factor that results and has presented at every in you getting the call when your Pat Zaby National Association of Realtors® contacts or their friends are buying convention since 1979 as well as or selling. This session will help you develop a system for leveraging your creative efforts numerous franchise and state conventions. Title: Turn it on Automatic: Serving Repeat and Referral Customers Date: June 12, 9 a.m. to Noon Instructor: Pat Zaby Cost: SAR and other Realtors®: $39 Florida CRS Chapter Members: $29 Register at www.sarasotarealtors. com

Gain valuable insights on distressed sales Title: Short Sales & Foreclosure Specialist (SFR) Course Date: Aug. 22, 8:30 a.m. to 5 p.m. Location: SAR Auditorium Cost: $99 SAR Members; $119 Non-Members; Instructor: Terry Watson Designed for real estate professionals at all experience levels, the NAR Short Sales and Foreclosure Resource Certification, or SFR for short, gives you a framework for understanding how to: • Direct distressed sellers to finance, tax and legal professionals • Training on both the buyer and seller side of short sale and foreclosure transactions • Free webinars that you can download anytime, anywhere • Access to SFR logo and marketing materials • Differentiation as an SFR at www.realtor.com and www.realtor.org.

Becoming SFR Certified

The path to pursuing the SFR certification is straightforward: 1. Be a member in good standing of the National Association of Realtors® 2. Complete a qualifying core course (this one or CRS 111)

20

MAY 2012

3. Complete three 1-hour webinars (free at www. realtor.SFR.org) 4. Download application from www.realtorSFR.org 5. Submit application with $175 application fee to SFR@realtors.org. Find more information at www.realtorSFR.org.

Sarasota Realtor® Magazine

www.sarasotarealtors.com


The most recent SAR Affiliate Committee Smart Lunch was held on April 11th at SAR and Short Sales was once

again the hot topic. The educational event attracted a packed house of interested SAR members.

SAR School of Real Estate slates courses

New careers in real estate are now being nurtured at the Sarasota Association of Realtors® School of Real Estate (SARSRE). Classes are held nights and weekends in Conference Room A in the SAR Education Building. Permit holder and instructor for the SAR School of Real Estate is Michael W. Davenport. He is multi-licensed in Florida and has a distinguished resume that includes over 40 years of sales and management experience.

2012 Course Schedule Sales Associate Pre-License May 31-June 23, 2012 Tuition: On or before May 17: $339 (includes manual and materials) After May 17: $364 Class limited to 20 students Tuesday & Thursday Evenings 5:00-10:00 AND Saturdays 8:30-1:30 End of Course Exam: June 23, 10-1 Instructor: Michael W. Davenport

www.sarasotarealtors.com

30 Hours Broker Post-License GRI Course 3: Real Estate Specialties July 23-25 and July 31-August 1 Tuition: On or before July 9: $265 (includes manual and materials) After July 9: $290 Course dates: Monday, Tuesday, Wednesday—July 23-25, AND Tuesday, Wednesday July 31-August 1, 9-4 each day End of Course Exam: Wednesday,(Course also carries 11 hours continuing education credit for license renewal for sales associates and brokers) Instructors: Jorge Cantero, Lou Ludwig, Pat Reass Course provider: Florida Realtors® School of Real Estate 14-Hours Continuing Education for License Renewal August 7-8, 2012 Cost: SAR Members $79; Non-members, $99 SAR members, please go to www.sarasotarealtors.com to register for the 14-hour CE course or Core Law. Nonmembers, go to the Education tab at the top of the home page (www.sarasotarealtors.com) to download a registration form that can be completed and faxed to SAR. Instructor: Michael W. Davenport

Sarasota Realtor® Magazine

MAY 2012

21


Gain your SFR certification in August

Title: Short Sales & Foreclosure Resource Certification (SFR) Date: August 22, 8:30 a.m. to 5 p.m. Instructor: Terry Watson SAR Members: $99 Non-SAR Members: $119 Earlybird Registration deadline: Aug. 7 After August 7, add $25 Designed for real estate professionals at all experience levels, the NAR Short Sales and Foreclosure Resource Certification, or SFR for short, gives you a framework for understanding how to: • Direct distressed sellers to finance, tax and legal professionals • Training on both the buyer and seller side of short sale and foreclosure transactions • Free webinars that you can download anytime, anywhere

• Access to SFR logo and marketing materials • Differentiation as an SFR at www.realtor.com and www. realtor.org. The path to pursuing the SFR certification is straightforward: 1. Be a member in good standing of the National Association of Realtors® 2. Complete a qualifying core course (this one or CRS 111) 3. Complete three 1-hour webinars (free at www.realtor. SFR.org) 4. Download application from www.realtorSFR.org 5. Submit application—send completed application with $175 application fee to SFR@realtors.org. Find more information at www.realtorSFR.org

Get ready now for October education extra Mark your education calendars for an October education extra at the Sarasota Association of Realtors®! Oct. 2-3, 2012: CRB: Sales Leadership That Drives Performance Steve David will be teaching this timely course for brokers and managers. Today’s managers must deal with a myriad of leadership challenges, such as recruiting, managing turnover, training

and mentoring; in addition to running a successful and profitable business. Steve has been part of the GRI faculty for over 22 years. Mark your calendar now!

Steve David

Get smarter about smartphones

Title: Tech User Group: Smartphones Date: Monday, May 7, 11:30 a.m. to 1 p.m. Location: SAR Auditorium Bring your own lunch, we’ll supply the drinks for the first Tech User Group meeting! Mark your calendar for the first Monday of each month to attend Tech User Group from 11:30 a.m. to 1 p.m. at SAR. The first session will focus on Smartphones.

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Dedication and hard work pay off!! We congratulate our members who have successfully completed the Graduate Realtor® Institute (GRI) designation and Short Sale & Foreclosure (SFR) certification!

GRADUATE REALTOR® INSTITUTE (GRI) Nancy Nallin Michael Saunders & Company Bernadette Caswell Michael Saunders & Company

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

SHORT SALE & FORECLOSURE CERTIFICATION (SFR) Carla Howard Cristello & Company RE 22

MAY 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com


Know your MLXchange inside and out

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 May 7 or May 21, 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 - 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 the hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information Entering and Updating Listings in MLXchange May 7 or May 21, 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 MLXchange Advanced May 16, 9 a.m. to Noon

www.sarasotarealtors.com

Take MLXchange to the next level! In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches. - Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order - Editing favorite reports iMapp - Interactive Tax and Mailing Labels May 16, 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 Creating Professional CMAs May 30, 9 a.m. to Noon CE Credits This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import

Sarasota Realtor® Magazine

properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. • Create a new seller or buyer CMA • Importing subject property from MLS or tax search and entering additional information about the subject property • Adding MLS and tax comparables • Adjustments, pricing, net sheet, selecting pages, and viewing report • Edit and remove reports • Emailing, saving, and printing CMA • Customizing a personal CMA and setting it as the default Design Web Pages and Capture Leads May 30, 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 • Plans manager, copying and modifying the action plan • Emailing the client private webpage • Customizing email templates

MAY 2012

23


On the SAR Scene

Making the SAR Scene in 2012!

Dan Arens and Monique Vermillion of ServPro are seen at the SAR Affiliates Smart Lunch event on April 11th.

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

Photos by Jesse Sunday and Jackie Deemer

Barbara Standish and Steve Ivan at the March 27th Business After Hours at Gecko’s.

Rebekah Boos and Walter Sugamura attend the March 27th Business After Hours at Gecko’s.

Our thanks to Judge Lee Haworth of the 12th Judicicial Circuit Court who spoke at the SAR Quarterly Membership Meeting in April. 24

MAY 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com


The CIPS Designation can also increase your earning potential. On average, CIPS designees earn $50,000 more than non-CIPS designees from real estate sales annually. Don’t miss the opportunity to broaden your business potential – get started now! CIPS Institute concentrates five of the required international CIPS courses into a 5-day format. We have split the 5 days into three days the first week, and two days the second week, so you don’t have to be away from your business for 5 days in a row. Individual Pricing Per Module: - $125 Global Real Estate: Local Markets—May 21, 2012 - $125 Global Real Estate: Transaction Tools—May 22, 2012 - $125 Asia/Pacific & International Real Estate—May 23, 2012 - $125 Europe & International Real Estate—May 29, 2012 - $125 The Americas & International Real Estate—May 30, 2012

Title: Global Real Estate--Complete CIPS Designation in 5 days! Dates: May 21-23 & May 29 & 30 at SAR Instructors: David Wyant, CIPS, Patricia Tan, CIPS, Carla Rayman, CIPS Special Pricing—Save and take the entire series! SAR Members: $499 (save $126 by taking all!) Non-SAR Members: $575 Stand out on a global level! The CIPS Designation is the only designation of its kind in the real estate community. It’s synonymous with advanced expertise, a global perspective and distinct understanding of a global buyer, and it comes with powerful brand recognition with designees in nearly 40 countries. By earning your CIPS Designation, you instantly align yourself with the best in the business, and join an influential network of international professionals. Don’t just give your business a global spin; take your business to the global level!

Global Business Council

Get a complete Global education!

Gain global reach with Immobel system Title: International Marketing With Immobel Date: June 6, 2 to 4 p.m.; Networking to follow Cost: FREE to Global Business Council Members; $10 others Meet Janet Choynowski, CEO of Immobel, when she visits SAR to personally update our members on the lastest and greatest from Immobel—one of SAR’s many member benefits which is provided at no extra cost. - Show your local MLS search / IDX, in each prospects’ preferred language. www.sarasotarealtors.com

- Impress Sellers with the Global Marketing you provide - Post your listings to Facebook in any language, sending your listings around the world. - Tweet your listings, even post them to Linkedin. - Immobel instantly makes your listings Social and Global. Best of all, once you have set up Immobel, it will work for you 24/7 without you ever needing to touch it again!

Sarasota Realtor® Magazine

MAY 2012

25


May the Code be with you! Countdown is on! The Code of Ethics is central to the Realtor® organization, and adherence to the Code of Ethics distinguishes Realtors® from mere real estate agents. Because of its importance, the National Association of Realtors® (NAR) has mandated that every four years all Realtors® must complete a two and onehalf hour renewal course of instruction on the Realtor® Code of Ethics as a condition of membership. Every Realtor® must complete the NAR Code of Ethics Training Requirement by Dec. 31, 2012. Realtors® who do not meet the requirement will have their Realtor® status SUSPENDED on Jan. 1, 2013. This is a nationwide requirement! Follow these easy steps to ensure you meet the requirements and maintain your membership as a Realtor®. STEP ONE: Determine if you need the training If you have successfully completed one of the following since Jan. 1, 2009 then you have satisfied the Members Code of Ethics training requirements: • A Code of Ethics refresher class (online or in the classroom) • The Professional Standards class in the GRI 1 track • The Code of Ethics New Member Orientation Program To determine if need to take the training, or to verify that your record accurately reflects a course you have already taken, please log into your membership account at http:// www.sarasotarealtors.com/. Then click on your “Education History”. Your record should show a “Code of Ethics” (or COE followed by the year). Look for a date after Jan. 1, 2009. If you have fulfilled the requirement by taking an approved course through another association or company and it does not appear on your record, please fax the documentation to Education Department at 941.923.0191 so that your record can be updated. If you have recently taken the NAR online course, please allow up to two weeks for your status to show as “Completed.”

STEP TWO: Fulfilling the Ethics requirement If you have determined that you need to take the Code of Ethics refresher class, you can: • Take NAR’s free online Ethics class. Just visit www.realtor. org and go to the Education tab. From there, click Code of Ethics Training on the left. Please note: No CE credit hours are available when taking the course via NAR’s online course. • Take an online course through SAR’s website and earn continuing education credit as well as the Ethics requirement for a fee. Go to http://www.sarasotarealtors.com/, click on the “Education” tab, and then choose “Online Education.” • Take a free refresher in the classroom at SAR (part of the New Member Orientation). Class is from 1 to 4 p.m. Check the SAR education calendar and register for one of the listed dates. The dates for the remainder of 2012 are: May 14, June 11, July 9, August 13, September 10, October 8, November 12, December 10 These classes are held from 1 to 4 p.m. Please note: No CE credit hours are available when taking the course in the classroom at SAR. • Offices can pick up a 2½ hour DVD from SAR to present a course in their office, and the broker can then certify a list of agents who have completed the course DVD copies are limited. Pick up the DVD and sign it out at SAR’s front desk.

Sarasota releases flood plain information

Current flood plain information may be obtained from the City of Sarasota Building, Zoning and Code Enforcement Department. They can provide the following information: • Community Number • Panel Number • FIRM Suffix • Date of the FIRM’s Index • The FIRM Zone (e.g. “A,” “C,” “V,” etc.) • Base Flood Elevation (BFE) • Copies of Elevation Certificates for those structures that have been required to provide them. 26

MAY 2012

Federal law requires that a flood insurance policy be obtained as a condition of a federally backed mortgage or loan on properties in special flood hazard areas (SFHA). There is a 30-day waiting period before a flood insurance policy takes effect. City of Sarasota officials are prepared to meet and discuss any flood plain related questions or problems you may encounter. You can reach the department by calling 941-9544127 or by writing to: City of Sarasota, Attention: Zoning Division, P.O. Box 1058, Sarasota, FL 34230-1058. Please visit www.sarasotagov.com for more information.

Sarasota Realtor® Magazine

www.sarasotarealtors.com


By G.M. Filisko Realtor® Magazine

The biggest risks for brokers typically arise from three sources: loose financial management, legal issues, and lack of oversight. Here are risks to avoid. Getting loosey-goosey with money. Real estate lawyers are seeing more brokers get into trouble by dipping into their escrow account to cover short-term expenses or by having such weak financial controls that sales associates have gotten away with asking clients to write checks directly to them, rather than to the company. Commissions you can’t sustain. Don’t feel pressured into top-heavy commission split agreements. If you’re providing generous company perks, determine whether you’re still profitable offering top producers top-of-theline splits and lower producers better-than-basic splits. Similarly, consider whether it’s smarter to focus on splits or on net income during recruiting. Affiliating or retaining unwisely. Affiliating mediocre salespeople doesn’t increase your bottom line—nor does retaining them. Make the difficult choices to keep your distance from salespeople who aren’t going to make your company stronger.

www.sarasotarealtors.com

Insufficient or no insurance coverage. Poor management often leads to multiple claims against your company and thus increased insurance costs. That, combined with an uncovered insurance claim (say your policy doesn’t cover vacant land, or the claim relates to a violation of a federal statute, which are typically not covered by insurance) or no insurance at all, can lead to the demise of your brokerage. Poor oversight of experienced salespeople. Letting experienced sales associates operate without supervision could lead to trouble. Review their transactions. Veteran sales associates need oversight and training as much as new sales associates—if not more—because they haven’t just emerged from real estate school where they learned about new laws and regulations. Sources: Bruce H. Aydt, ABR, CRB, senior vice president and general counsel, Prudential Alliance, REALTORS®, St. Louis; David Fialk, ABR, CRS, broker-owner, Choice Realty Co., Iselin, N.J.; Jamie Billotte Moses, Fisher Rushmer Werrenrath Dickson Talley & Dunlap, Orlando, Fla.; Bill Richardson, managing broker, The Keyes Co., Boca Raton, Fla.; Daniel Villazon, principal, Daniel Villazon PA, Celebration, Fla.; Alex Wang, CRS, e-PRO, founder and broker-owner, Rainmaker Properties, Palo Alto, Calif.; Dax Watson, Mack, Drucker & Watson, Phoenix

Sarasota Realtor® Magazine

MAY 2012

Broker Corner

Brokers: Avoid threats to your livelihood

27


WCR wins national recruitment kudos! Our Sarasota Chapter of the Women’s Council of Realtors® is very proud to lead the nation in both recruitment and retention of new and existing members in our business organization! Led by Peter Salefsky, we worked as a team to find the hot buttons, and determine what successful Realtors® want from a business organization. We believe we have found the answers in our Business Resource Luncheon Meetings (BRM’s). We started the year with the keeper of the Ca’ d’Zan mansion and followed up with a presentation about Facebook. We have a presentation about FREC and how to stay out of trouble. Our May meeting is how to make Feng Shui a part of your listing business. We have an October meeting about “Designation

2012 WeD JaN

WCR Program Meeting Dates

18 FrI FeB

Ringling Museum of Art

FrI Mar

9

FrI apr

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

Technology Presentation

Location: University Park Country Club Speaker: Steve Richman

13 FrI MaY

Past President’s Luncheon

FrI JUN

15

Maximize Your Membership.

FrI JUL

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

RPAC Presentation

13

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

WeD aUG

Sarasota Historical Presentation

15

WeD Sept

19

FREC Presentation

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

11

SaraSota Chapter

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

10

Speak CRS” and other designations, do they really mean anything to the consumer or as Realtors® do we just think we know more because we are willing to continue to learn about our professionalism? We know that a large part of Sarasota WCR’s success has been the unrelenting support we receive from SAR, FR and NAR. That is why we are so excited that we will have our 15 minutes of fame in Washington DC, this May at the national level to discuss how we achieved this great success in our real estate community. There are many opportunities for members of WCR to become involved in committee work, officers of WCR and travel with WCR to both FR and NAR meetings each year. For more information about WCR feel free to contact any of the members listed.

FrI oCt

Location: Sarasota Yacht Club Speaker: Sarasota Historical Society

Fashion Show Location: Polo Grill Lakewood Ranch

Business Development

12

Location: Michael’s On East Topic: Designation Speak CRS

WeD NoV

Insurance

Joint Meeting with SAR

Location: Troyer’s Dutch Heritage Speaker: TBD

14

FrI DeC

14

Location: Michael’s On East Speaker: Ron Regan

Incoming President’s Installation Location: Sarasota Yacht Club

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

2012 Leadership Team

28

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

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

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

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

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

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

MAY 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com


By John Lay ArtisTree Landscape Maintenance and Design The Realtor® sounded clearly exasperated when she called. “Some days it’s not worth trying to help folks. I won’t be needing your services at this address after all.” Her $1.2-million listing had been on the market for four months, but because of poorly placed landscaping that obstructed waterfront views and crowded the circular driveway, no one could see past the thick walls of a tired hedge row. An uninspired pasture of plaingreen liriope had all but crowded out a fountain that hadn’t trickled in a stone’s age, and a scraggly pygmy palm just sort of sat and sulked. When the Realtor® told the seller that a relatively inexpensive upgrade

would make his listing market-ready, she was met with strong resistance. Keeping the lawn mowed was one thing, but removing hedges and John Lay transplanting shrubs? Integrating colorful perennials to spice things up? It would eat into profits (never mind that the seller had just spent thousands on new kitchen countertops and appliances to attract buyers). So the house with the obstructed waterfront view sat on the market another month, at which point the owner decided he would stay put and watch his pasture of liriope grow.

ArtisTree was contracted by the Sarasota Association of Realtors® to achieve the Florida-Friendly landscaping of the SAR grounds. www.sarasotarealtors.com

Sarasota Realtor® Magazine

But in another scenario, a happier ending: A couple had fallen in love with a Mediterranean-style residence but couldn’t get past the uninspired landscape. As the woman said, “it’s like seeing a giant castle fringed with alyssum and nothing else.” For those of you who aren’t familiar with alyssum, it has a low growing habit best suited in rock gardens or between paving stones - hardly a commanding presence for a large estate. Luckily, the couple could see the “forest for the trees” after their agent suggested working directly with a professional landscaper. After a round of negotiations, the seller heeded the agent’s advice and a landscaping budget was created so the couple could achieve their desired vision. By working directly with the seller to make a listing market-ready, or with the buyer to introduce a budget for exterior renovations, you can advise them that “remodeling” a landscape has the same ROI potential as remodeling a room. Landscaping services are the perfect fit for homeowners who want: - Changes to enhance or improve their existing landscape to make it market-ready; - A partial or complete landscape renovation to replace the previous owner’s style with their own; - Improved integration of landscape with interior décor (inside-out design); - A proven and immediate way to increase property value with minimum investment. Realtors® help people put down new roots, and so can landscape companies. Find one you trust and recommend their services. It may just help you seal the deal. General Manager John Lay of ArtisTree Landscape Maintenance & Design is an SAR Affiliate member. He can be reached at 941-488-8897, and the company web site is www.artistree.com MAY 2012

Affiliate Focus

Qualified landscaper can help you seal the deal

29


Membership News

The Association is pleased to welcome new members! Designated Realtors®

Bailey, Brenda: Bailey Property Services Huitema, Bart: Florida Dream International RE Swanson, Karin: Karin S. Swanson R E Broker Madden, Linda: Prudential Florida Realty Fernandez, Miriam: Robles Realty Cusack, William: William J Cusack R.E. Broker

New Members

Agsar, Eli: Horizon Realty International Arbuckle, Thomas: Luxury Estates Intl R.E. & Dev Bell, Regina: Horizon Realty International Clark, Pamela: RER International Cannon, Benjamin: Keller Williams Lakewood Ranch Coon, Mark: Keller Williams Lakewood Ranch Cosby, Crystal: Coldwell Banker Res R E Cramer, Paul: Coldwell Banker Res R E Doherty, Laura: Horizon Realty International Finney, Glenda: Candy Swick & Company Germain, Debra: Michael Saunders & Company Girard, Carol: Coldwell Banker Hayworth, Cindy: Coldwell Banker Res R E Klosner, John: Harry Robbins Assoc Inc. Konuru, Venkata: Exit King Realty Kozma, Krisztian: Coldwell Banker Res R E Kraguljac, Stevan: Venice Real Estate Company Lawhorne, Darrell: Andrews & Associates Realty Lee, John: Coldwell Banker Res R E Malickson, Frank: Exit King Realty Mastro, Bradford: Wagner Realty Meyers, Theresa: Coldwell Banker Res R E Moret, Javier: One Stop Realty of Sarasota Pfeiffer, Karen: King Realty Associates LLC Pratt, Barbara: Coldwell Banker Res R E Rodrigues, Joseph: Nextage Lighthouse Realty Smidlein, Timothy: Shirley International Realty Stanoch, Melissa: Key Realty

Now With ...

Baty, Carrie: Sandals Realty of Sarasota Biter, Tina: Wagner Realty Brissette, Edith: Beckmann Properties Burnham, Lucia: Horizon Realty International Debicka, Dorota: RE/MAX Alliance Group Donnelly, Kandace: Keller Williams On The Water Garrabrant, Susan: Jubilee Real Estate Corp Greenberg, Paul David: Ian Black Real Estate LLC Hunkapiller, C Nicole: Exit King Realty Iacobelli, Christopher: RE/MAX Alliance Group Jones, Robin: Coldwell Banker Meacock, Helen: Keller Williams Realty Englewood Morris, Robert: Premier Commercial Inc Parratt-Twigg, Cynthia: Sandals Realty of Sarasota Schmitt, Mary Alice: Exit King Realty Shaw, Stephanie: Coldwell Banker Res R E Sokolov, Sergei: Keller Williams Lakewood Ranch Stoltzfus, Fannie: Exit King Realty Swartz, Thomas: Hook & Ladder Realty Inc Taylor, Pamela: Michael Saunders & Company Twigg, Jeffery: Sandals Realty of Sarasota Watermann, Monica: Capital Investment Realty Svcs Webber, Heidi: Jennette Properties Inc Zuffa, Linda: Sandals Realty of Sarasota 30

MAY 2012

New Affiliates HomeBanc

6230 University Parkway Sarasota, FL 34240 Phone Number: 941-806-1112 Representative: Jesse C Romero Specialty: HomeBanc is a Small Business Administration (SBA) approved PLP (“Preferred Lender Program”) lender. As a PLP lender, HomeBanc can offer additional loan products to our customers, allowing them to make use of the lending vehicle that best fits their small business financing needs. We also have an experienced team of SBA Loan Specialists to assist you with your small business and commercial lending, whether you’re about to open a small, local shop or need to expand a large business. We can help you with: Debt Refinance, Real Estate Purchases, Business Acquisitions, Franchise Lending, Equipment Purchases & Permanent Working Capital. Email: jesse.romero@homebanc.com

Kangen Water By Enagic, USA

342 Scott Ave Sarasota, FL 34243 Phone Number: 941-586-5388 Representative: Raymond Kow Specialty:Kangen water by Enagic, USA promotes improved health in the workplace and home. Through Alkaline Water; Local Distributorship for sale, Training and Service. At Enagic®, we believe in living a “green” lifestyle that is kind to our physical bodies and the environment. Thankfully, Kangen Water® is here to help you establish an eco-friendly household, by offering a green alternative to cleaning, laundering, gardening, etc. Want to learn more about how you can take advantage of Kangen Water® in your own home or business give me a call today. Email: kowman1@verizon.net

Legal Shield Independent Assoc

1691 Mellon Way Sarasota, FL 34232 Phone Number: 941-822-4884 Representative: Pamela Wexler-Rubin Specialty: Wouldn’t it be nice to consult an experienced lawyer whenever your family encounters a legal issue, major or minor? It’s not only possible; it’s affordable and convenient with a Legal Plan from Legal Shield. Our members receive services from a nationwide network of Provider Law Firms. In the event of an emergency, whatever the day or hour, members can receive legal advice via our Legal Shield service all for a low monthly fee. Email: pwrent@comcast.com

SRQrents.com

1662 Starling Drive Sarasota, FL 23231 Phone Number: 941-400-8474 Representative: Judy Gee Specialty:Our site appeals to annual renters and to renters who want to be here for vacation or a season.

Sarasota Realtor® Magazine

www.sarasotarealtors.com


Congratulations to our 32 new SAR members who joined us in April! Our site is frequented by the property managers who post their rentals and edit the posts they have running and consumers who are looking to rent a property. We understand that you want to spend your advertising dollars carefully and aim them at the people who can best use your services and products. We have several advertising packages which allow you to direct your ad to exactly who you want. Online advertising & Rental Property website-www.SRQrents.com Email: judy@SRQrents.com

Stearns Bank, N.A.

22 S. Links Ave., Ste 100 Sarasota, FL 34236 Phone Number: 941-328-6896 Representative: Michael Moore Specialty: Stearns Bank has the resources and expertise to finance commercial real estate projects and tax credits of all sizes. We partner with financial service companies and regional banks across the country to provide loans for all types of projects nationwide. We provide a win-win solution with each lending opportunity, serving a wide range of industries. You’ll find the financial resources and expertise at Stearns Bank to provide fast, flexible financing for projects of all types and sizes nationwide. We get the job done! For Tax Credit/Affordable Housing, Small Business (SBA) Loans, Commercial & Construction, Equipment Finance & Leasing and USDA Rural Development Loans. Email: michaelm@stearnsbank.com

SunTrust BANK

1777 Main Street, 6th Floor Sarasota, FL 34236 Phone Number: 941-951-3158 Representative: Nicholas Roberts Specialty: SunTrust Commercial Bank: Has your business outgrown its office space? Are you looking to add a new retail location or manufacturing plant—or open a warehouse to store your inventory? Whatever your plans, SunTrust can help you secure the financing you need for the acquisition, development and construction of commercial properties. Our commercial mortgages feature competitive fixed or variable rates along with flexible terms to fit your business’s needs. With SunTrust, you can count on great customer service, from a simple convenient application process to fast mortgage approvals. SunTrust offers competitive variable or fixed-rate financing with flexible terms for a wide range of new and existing commercial properties. Office buildings, Manufacturing facilities, Warehouses. & Retail locations. Email: nicholas.roberts@suntrust.com www.sarasotarealtors.com

Veteran Air

5002 Lena Road #106 Bradenton, FL 34211 Phone Number: 941-751-6180 Representative: Kevin Henault Specialty: Air Conditioning and Heating Contractor for Residential & Commercial Properties. We offer Maintenance, Repair and Replacement Let us take this opportunity to educate you on the largest growing Heating and Air Conditioning company in central Florida. We are a company built by former military personnel. We have taken the experience, leadership and work ethic that the U.S. Armed Forces has given us and adapted it to the HVAC industry. We believe in commitment to customer service, giving you the best price, and offering a one stop source for all your air conditioning needs. Email: kevin@veteran-air.com

Villa Grande at Sarasota

4 Maggie Lane Sarasota, FL 34235 Phone Number: 941-366-2200 Representative: Peter Churchward Specialty: Villa Grande at Sarasota offers seniors (62+) the convenience, services and flexibility that can only be found in rental communities. A beautiful home without the hassle of home ownership. Access to a multi-million dollar clubhouse. Surrounded by friendship & neighbors who enjoy the same lifestyle that you enjoy. Go ahead. You’ve earned it. And it can all be found at the new Villa Grande at Sarasota. Email: sarasotaseniors@cambridgemsi.com

VIP Networks Inc

4157 70th Street Circle East Palmetto, FL 34221 Phone Number: 941-718-4832 Representative: Jeremiah Guccione Specialty: ViP Networks’ has helped many different businesses meet the same high-functioning needs, providing leadingedge systems, support and technology. Our unwavering focus has always been and will continue to be Customer service. Passionate about technology, our staff is motivated to make your company succeed. As networking and telecom specialists, we offer phone and computer systems designed to integrate seamlessly into any business environment, combating the frustration many clients have encountered using inferior services and products. Email: jeremiah@vipnetworksinc.com

Sarasota Realtor® Magazine

MAY 2012

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E DUCATION & E VENTS C ALENDAR Tuesday

Wednesday

Thursday

Friday

April 30

May 1

2

3

4

7

8

9

10

11

14

15

16

17

18

21

22

23

24

25

29

30

31

June 1

8:30 a.m. CID Board of Directors 9 a.m. GRI 2 5 p.m. Sales Associate Pre-License

9 a.m. Basic MLXchange 11:30 a.m. Tech User Group 1:30 p.m. Entering & Updating

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

8:30 a.m. CIPS Institute 9 a.m.

Basic MLXchange 1:30 p.m. Entering & Updating

28

7:30 a.m. Toastmasters 9 a.m. GRI 2

5 p.m. 8:30 a.m. Sales Associate Pre-License Leadership Committee 9 a.m. Emerging Leaders 5 p.m. Sales Associate Pre-License

8 a.m. CID General Membership 5 p.m. Sales Associate Pre-License

7:30 a.m. Toastmasters 9 a.m. FL Bldg. Code Update 12 p.m. RAJC Seminar

8:30 a.m. 8:30 a.m. CIPS Institute CIPS Institute 5 p.m. Sales Associate Pre-License 5 p.m. Affiliate After Hours Networking (Gecko’s) 8:30 a.m. CIPS Institute

8:30 a.m. CIPS Institute 9 a.m. CMA 1:30 p.m. Design Web Page

8 a.m. Power Marketing (University Park CC) 5 p.m. Sales Associate Pre-License

8 a.m. Power Marketing (SAR) 5 p.m. Sales Associate Pre-License

8 a.m. Power Marketing (SAR) 10 a.m. Photographer

8 a.m. Power Marketing (SAR)

8 a.m. Power Marketing (SAR)

9 a.m. CID Commercial Marketplace

9 a.m. CID Commercial Marketplace

9 a.m. CID Commercial Marketplace (offsite)

9 a.m. CID Commercial Marketplace

9 a.m. CID Commercial Marketplace

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

My Florida Regional MLS Training

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

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

Monday

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

MAY 2012


12.0 10.0 8.0 6.0 4.0 2.0 0.0 Mar‐11

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Days on Market 300

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Single Family Condo

250 200 150 100 50 0 Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Dec‐11

Feb‐12

Mar‐12

Single Family

Sales Volume

Condo

$180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 Mar‐11 Apr‐11 May‐11 Jun‐11

Jan‐12

Jul‐11 Aug‐11 Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12

New Listings

Single Family Condo

900 800 700 600 500 400

Sarasota Association of Realtors® MLS

300 200 100 0 Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

The Xtra Pages - Digital Version Only

Single Family Condo

Months of Inventory


First Quarter 2012 Report Single Family Sales ‐ By Quarter

REO

Short

Market

1200 1000 800 600 400 200 0 2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

* Homebuyer Tax Credit In Effect

Condo Sales ‐ By Quarter

REO

Short

Market

600 500 400 300 200 100 0 2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

REO

Short

Market

2012‐Q1

* Homebuyer Tax Credit In Effect

Single Family Median Sale Price $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

Condo Median Sale Price

2011‐Q2

REO

2011‐Q3

Short

2011‐Q4

2012‐Q1

Market

$350,000 $300,000 $250,000

Source: Sarasota Association of Realtors®

$200,000 $150,000 $100,000 $50,000 $0 2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1


Single Family Condo

REO Sales ‐ By Quarter 600 500 400 300 200 100 0 2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

* Homebuyer Tax Credit In Effect Single Family

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0 2009‐Q3

2009‐Q4

2010‐Q1 2010‐Q2* 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

* Homebuyer Tax Credit In Effect Single Family Condo

Market Sales ‐ By Quarter 1200 1000 800 600 400 200 0 2009‐Q3

2009‐Q4

2010‐Q1 2010‐Q2* 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

* Homebuyer Tax Credit In Effect

Source: Sarasota Association of Realtors®


Annual Sales ‐ 2000 to 2011 Single Family Single Family

Condo

Total

11267 10562 9697 8224

8167 7603

7,596 7036

6533

6,841

6 504 6,504

6739

6358

6042

5,603

5,183

4,940 4,353

4,349 3 671 3,671

3,193 2,184

2,096

5820

3 721 3,721

2,564 2,005

2001

2002

2003

2004

2005

5,938

4,626 3,922 ,

2,120

2006

2007

2,137

2,286

2010

2011

1,556

1,194

2000

5,466

2008

2009

Annual Median Sale Price ‐ 2000 to 2011  Single Family

Condo

$351,000

$342,000 $336,250

$272,500 $305,000

$226,000 $172,500

$303,000

$210,000 $163,000 $156,800

$230,000

$191,000

$142,000

$173,000

$132,300

2000

$301,225

$225,000

$191,000

$320,000

$160,000

$145,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$163,000

2010

$155,925

2011

Sarasota Realtor Magazine - May 2012  

An Amazing Spring! The season has been the best in seven years.

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