Sarasota Realtor Magazine - October 2011

OCTOBER 2011

The Official Monthly Publication of the Sarasota Association of Realtors速

The Cloud, Tablets, iOS, Android, etc. - See Page 6

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when you know where to look.

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

ORA STA

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centex.com | 866.290.9091 ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.

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

Contents

Sarasota Realtor® Magazine Volume 8, Issue 10 OCTOBER 2011

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

6

Tech Expo

Technology and real estate go hand in hand. and the symbiotic

relationship has grown even more apparent in 2011 with the

advent of amazing new devices and date-sharing methodologies.

10 The Big Seven

Governmental Affairs Director Marc Mansfield explains

the seven proposed Constitutional Amendments on the ballot

in 2012, and what they might mean to real estate.

12 Appraisals 101

Sarasota County Property Appraiser Bill Furst explains

the often daunting appraisal process, and the eight factors

his office is required to evaluate.

Volume 8 • Issue 10 •OCTOBER 2011

15 Good Trend

The August 2011 sales statistics in the Sarasota market continued

the trend stronger this year, and the inventory of available

properties once again fell to the lowest level in over a decade.

18 Fore!

The annual CID Charity Golf Tournament is this month,

and we have all the details about this fun, entertaining,

and important event for a local charity.

In every issue

18- Commercial Investment Division 20- Education Programs Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24!

30- Membership

OCTOBER 2011

Secretary Dave Swenson EXIT Creative Realty Treasurer Roger Piro Town & Country Realty Immediate Past President Erick Shumway RE/MAX Alliance Group 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 Membership and Administrative Services Dan Andrews 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.

15- Sales and Listing Statistics

32- Calendar of Events/Education 4

President-Elect Laura Benson Michael Saunders & Company

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

12- Property Appraiser

29- Global Business Council

President Michael Bruno Michael Saunders & Company

Production Coastal Printing, Inc.

10- Governmental Affairs

24- On the SAR Scene

2011 SAR Officers

Sarasota Realtor® Magazine

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

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

www.sarasotarealtors.com

SAR Officers, Directors elected for 2012

The 2012 SAR Officers and Board of Directors were elected at the SAR Annual Meeting on Sept. 16th.

2012 officers will be: SAR President - Laura Benson, Michael Saunders & Company; SAR President-Elect - Roger Piro, Town and Country; SAR Treasurer - Peter Crowley, RE/ MAX Alliance Group; SAR Secretary - Stafford Starcher, RE/ MAX Alliance Group; and SAR Immediate Past-President Michael Bruno, Michael Saunders & Company.

New three-year directors will be: Michael Davenport, King Realty; Joe C. Hembree, Hembree & Associates; Debbie Judge, Michael Saunders & Company; Kristin Triolo, Atchley International Realty; and Amy Worth-Paul, RE/MAX Platinum Realty.

New two-year directors will be: Bob Milhoan, Hembree & Associates; and Bob Stanley, Coldwell Banker.

New board members will join directors whose terms continue in 2012: Adam Chicoine, Michael Saunders & Company; David Clapp, RE/MAX Alliance; Bryan Guentner, RE/MAX Platinum; Anthony Homer, Lakewood Ranch Commercial Realty; Christina Pitchford, Allen Real Estate; Carla Rayman, Coldwell Banker; Drayton Saunders, Michael Saunders & Company; and Xena Vallone, Xena Vallone Realty.

In addition to the annual election, the SAR membership approved a Bylaws amendment. The amendment removes the requirement that MFR Directors from SAR be broker/owners.

This change permits any primary member of SAR who is an MLS Participant or Subscriber to serve on the MFR Board of Directors.

Dave Marvel: SAR Affiliate of the Month for October 2011

The October 2011 Affiliate of the Month is Dave Marvel of Peace of Mind Home Inspections, LLC. Dave relocated to Bradenton in 1989 after serving in the United States Marine Corps. He graduated with an Electrical Engineering degree and spent 10 years at Chris Craft Boats as the Plant Engineer and Environmental Manager. He opened a remodeling company in 1995 and then Peace of Mind Home Inspections, LLC in 2003.

Dave’s memberships include: SAR, WCR, National Association Dave Marvel of Certified Home Inspectors (N.A.C.H.I.). He is also a board member of Florida N.A.C.H.I. Dave is a licensed mold assessor, licensed home inspector and is certified through the state of Florida and EPA as Lead Renovation, Repair and Painting.

Dave can be reached at 941-448-5096, or by email at dksjm_83@msn.com.

KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy

Call 941-366-1300 For A

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

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

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

Cover Story

Welcome to ‘The Cloud’

o

Technology is helping shape the real estate industry October 2011 is shaping up as an exciting month for the technology watchers among us, including real estate professionals who rely so much on the latest, greatest gadgets, software, apps and solutions.

In early October, the launch of the latest Apple products, including iPhone 5, is breathlessly anticipated, along with the latest operating system for the iPhone and iPads. Apple will also finally unveil the iCloud, a virtual environment in which music, video, and other documents can be stored and shared on all Apple devices under one account. This same concept is in use currently through Google and other providers of Cloud techology.

The smart phone industry will also be turned on its head in October as the iPhone is expected to expand beyond the current AT&T and Verizon carriers.

Android products continue to pop up left and right to compete with Apple, and RIM remains a player with their latest Blackberry devices.

Windows 8, the latest operating system from Microsoft, was also unveiled to developers in September, and will be on the market in 2012. It is expected to revolutionize the Windows environment and take it to a new, more mobile, more cloud-centric system. Based upon the new Windows 7 Phone, the new platform will take Microsoft in a whole new direction, and the real estate world will likely follow.

So, faced with all this change, and even more in the months ahead, what is a Realtor® to do in order to stay competitive and remain ahead of the curve?

The answer - GET EDUCATED!

Verl Workman 6

OCTOBER 2011

Amy Chorew

On Friday, Oct. 28th from 8:30 a.m. to 5 p.m., SAR will once again stage the annual Technology Expo, this year at the brand new Sarasota County Technical Institute, 4748 Beneva Road. Lunch is included for the low earlybird registration fee of $20 before Oct. 14th (after, $25 - at the door, $30). Register now at www.sarasotarealtors.com. Exhibitors and sponsors, please contact Catherine McCaskill at 941-328-1167.

Exhibit booths start at $250.

This year, we have two nationally acclaimed keynote speakers. In our morning session, Verl Workman, a popular convention speaker and coach with Pinnacle Quest Consulting, will be focused on the subject “Get Your Head in the Cloud ... and Make It Rain.” He will help SAR members see that the way we used to work is changing-for the better!

Today, we can be much more mobile, but we now need to be doing business with the use of the Cloud.

The Cloud helps make our business systems more streamlined, reducing cost and allowing us to work from virtually any setting. Come learn how to make the Cloud work for you.

In the afternoon session, Amy Chorew of TheTechByte, also a popular convention speaker, and instructor for several major designations, will help us by focusing on “Kicking Your Online Marketing Strategy Up A Notch.” Social media methods and tools

Sarasota Realtor® Magazine

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are changing daily; even those who are using social media as a key part of their marketing campaign are learning new ways to implement these tools. The goal is to have all of your marketing efforts support each other, working together to promote your business. You will learn so many new opportunities from Amy about On Line Marketing that you could not have even imagined!

In addition to the keynote presentations there will be over 20 break-out sessions to choose from with Topics like: • Bullet Train Technology: Re-Think, Re-Do & Re-Master Your Technology • There Is An App For That – Tools For Smart Phones & Tablets • Free Google Tools To Grow Your Business • Introducing Listingbook’s new AI: The ONLY Intelligent Client Servicing System • Using Realty Trac Technology to Build Your Real Estate Business, Foreclosure & Non-Foreclosure • You Too Can You Tube- Marketing You & Your Properties With Video • Smart Phone Technology - What is the Latest and Greatest?

• Understanding the Emerging Tablet Market: Which One’s Right for You? • Marketing With the Use of QR Codes • Using Your Apple / iPad in the Real Estate World

• Using Skype, Google Voice, and Facetime to Communicate With Clients • Using MFR MLS on Your iPad or Mobile Device/Phone • Blogging For Profit – The Do’s and Don’ts of Blogging • And much, much more Don’t miss this opportunity to interact with many vendors and sponsors. Not to mention the doorprizes! The location is the Sarasota County Technical Institute, corner of Beneva and Proctor in Sarasota.

Are PCs becoming obsolete?

A recent article in USAToday highlights the emerging mobile technology environment that real estate professionals must navigate successfully.

According to the article, headlined “As tech evolves, will PCs be left behind?”, “Steve Jobs’ bombshell resignation as CEO. Hewlett-Packard’s abdication of its multibillion-dollar PC group. Google’s $12.5 billion purchase of Motorola Mobility. Dell’s wobbly sales forecast.

The whipsaw sequence of recent events in the technology industry highlighted what many are calling the rise of mobility and the marginalization of the PC. Meteoric spikes in the sale of smartphones and tablets are merely hastening the diminished status of the traditional desktop PC, whose sales have flattened the Continued on P. 8, See THE CLOUD

Free Tech Support The Florida Realtors® Tech Helpline is available to answer members’ questions Monday Friday from 9 a.m. - 8 p.m. and on Saturdays from 9 a.m. - 5 p.m.

Just call 407-587-1450 and have your membership information handy (either your FREC license number or NRDS number). Or you can access this free service via email for computer support questions or chat for live computer support. Also, to ensure the Technology Helpline is just a click away, download the new desktop widget for computer support and tech help. You can get expert assistance and support. The Tech Helpline team handles a variety of questions and problems, including the following: - Florida Realtors® members can utilize the business tools and support features on floridarealtors. org, including setting up free member websites and configuring property functions such as IDX. - Get advice on shopping for hardware, software or digital equipment.

- Get Advice on installing and configuring new hardware and software.

- The team diagnoses computer hardware malfunctions.

- The team helps you get the best performance from your equipment.

- They work through system failure of basic hardware and software components.

- They recommend the most current software for your computer system.

- The team troubleshoots Local Area and Dial-Up Networking configuration and connectivity.

- They consult with members about networking opportunities.

Read more about the Technology Helpline’s technical support and computer repair services at www. floridarealtors.org.

www.sarasotarealtors.com

Sarasota Realtor® Magazine

OCTOBER 2011

7

Beating a path to real estate innovation

By Brian Summerfield Online Editor Realtor® Magazine Being innovative doesn’t necessarily mean diving into new technologies all the time. It doesn’t mean trying to reinvent the wheel. And it certainly doesn’t mean focusing lots of your energy on something perceived to be hip or avant-garde to the detriment of the core of your business.

That was the message from Matt Dollinger, vice president of strategic development at brokerage @properties, and Eric Bryn, vice president of digital innovation at brokerage Baird & Warner, in separate presentations at the Xplode conference in Chicago last week.

Dollinger said he’s amazed by the amount of time real estate practitioners spend on things that aren’t bringing them business.

“More people have done a transaction off of an open house than off of Twitter,” he said. “But they spend a lot more time on Twitter.”

He argued that technology won’t

save your business, then quoted real estate consultant and commentator Rob Hahn: “It ain’t the technology.

All technology does is make what you do more efficient. If what you do is crap, it makes crap more efficient. If what you do is valuable, then it makes that more efficient. Microsoft Word is an amazing piece of technology, but it can’t write the next Great American Novel for you.”

True innovation, especially when you lack time and resources, requires a concentrated approach rather than a try-anything-and-everything system. Thus, when it comes to being innovative, Dollinger recommends doing the following: - Perform a business audit: Determine where most of your business is coming from, and keep putting most of your effort into that.

- Remember the “power of 1”: Focus on experimenting with one new technology at a time, but make sure it fits in with your business model.

Also, determine what you’re getting in return. That benefit doesn’t have to be

THE CLOUD From Page 6

past few years with little relief in sight.”

The article concludes, “Certainly the PC isn’t necessarily going the way of the dinosaur, pay phones and space shuttle missions. But ‘personal computer’ isn’t necessarily the first thing most people think of when they talk computers. For many, it’s iPhone, Android phone, iPad, Kindle – even BlackBerry.”

So, where is this all heading? USAToday didn’t provide the definitive answer, because, both literally and figuratively, the future is still “up in the air.”

According to USAToday, former Microsoft executive Paul Maritz envisions consumers getting mountains of information from whatever device or cloud-based application is best for them. Maritz said, “We inexorably are shifting from a device-centric world to an information-centric world.

“An individual’s data will determine what devices look like, rather than the other way around, because it will outlive any particular piece of hardware where it may reside,” he noted.

Hardware – whether a desktop PC or tiny smartphone – will 8

OCTOBER 2011

financial, but it should be furthering your business somehow.

- Listen, learn, and adapt: Keep up with current trends, track your success with whatever new solutions you’re trying, and make adjustments when and where necessary.

Also, just because a tool or technique is innovative — or is being hyped as such — doesn’t mean it will gain widespread adoption. According to Bryn, innovation turns into common practice due to three factors: - Community: Groups of people explore the new tools and decide whether they’re worthwhile.

- Leverage: Individuals figure out how to apply new tools to existing practices.

- Experience: People go back to superior, personal interactions repeatedly and routinely.

Because of the role of the “crowd” in determining if and how new technologies will be used, it’s important to be aware of what’s gaining traction in your community. “You need to walk through consumers’ experiences again and again and again,” Bryn said.

always be necessary to encase data, says Sandy Kurtzig, the former Ask CEO who came out of retirement to launch cloud computing-based company Kenandy. “Who’s going to win the (tech) race?” she asks. “Cloud is in a good place.

It supplies up-to-date, secure data to all forms of hardware.”

But the “most profound issue is who will be the custodian of all that information in the cloud? Apple? Google? Microsoft? Facebook?”

Maritz asks.

That answer will ultimately belong to the consumers, and real estate professionals will play a big role in that equation.

Real estate has alwways had a leading role in the evolution of technology, as brokers and agents must remain on the cutting edge in order to survive.

There has been an amazing technological curve since the days of printed MLS books, and the endless car trips to show properties. While there are still home visits, today the clients can and do narrow down the choices by viewing homes on the computer, or tablet, or smartphone first.

Now, the Cloud has taken the virtual real estate world to the next level, and where it goes from here - the sky is the limit!

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Volunteer for 2012 Committees/Task Forces Now is the time to consider joining the leadership team by taking part in an Association committee or task force in 2012. You’ll make new contacts, enhance your professional abilities and have the opportunity to make a difference from behind the scenes. Additional task forces may become available once the Strategic Plan is completed. Watch for updates and other opportunities. Deadline for submittals is Nov. 1, 2011.

Affiliate Committee: Organize and support activities and events and provide input. An Affiliate or Auxiliary membership is required. (Meets as needed) Communications: Assures that SAR is the single source of accurate, reliable information on our industry in the Sarasota market. (Meets as needed) Community Outreach: Evaluate, recommend and organize projects that benefit the community, enhance the image of Realtors, and provide opportunities for networking and camaraderie. (Meets as needed) Global Business Council Steering Committee: Develop education programs, networking events and resources to prepare Realtors® for specific cultural and economic issues that are an integral part of working with the many buyers and sellers of foreign origin. (Monthly) Green Realtors® Alliance of Sarasota: Develop education programs and resources to further the preservation of our environment and natural resources as it pertains to real estate. (Monthly) Grievance Committee: Review ethics complaints and arbitration requests to make preliminary evaluation to determine if a formal Professional Standards Hearing is warranted. Annual training required to serve on this committee. (Monthly)

Member Benefits: Review and analyze proposed programs, products, and services to evaluate the potential benefits to membership and the Association. (Meets as needed) Nominating Committee: Offer recommendations for SAR leadership positions (officers, directors, etc.) and select annual award recipients. (Meets as needed) Power Marketing: Plan and conduct weekly MLS Power Marketing sessions. (Meets as needed) Professional Development: Provide input regarding education, sales and technology training, leadership development, new member orientation, and risk management. (Monthly) Professional Standards: Enforce the Code of Ethics by conducting hearings on charges of unethical conduct and arbitration of contractual disputes, including entitlement to compensation in cooperative transactions. Annual training is required and service on the Grievance Committee is a prerequisite. (Meets as needed) Public Policy: Involve members in the political process through education, information, and grassroots involvement.

(Monthly) Realtor®/Attorney Joint Committee: Plan periodic legal programs for members and provide monthly Q&A for SR Magazine. Duty to stay current with real estate laws and FREC changes. (Monthly) RPAC (Realtor Political Action Committee): Conduct awareness campaigns, programs and activities to raise funds for the support of candidates and real estate issues. (Meets as needed) SARPAAT (Political Action Advisory Trustees): Encourage Realtors to take a more active role in governmental affairs and inform members of the records of candidates for office. (Meets as needed) Scholarship: Solicit scholarship applications, conduct applicant interviews and select recipients. (Meets as needed) Vendor/Data Access: To review and analyze requests for access to SAR members’ data from the MFR MLS database. (Meets as needed) During the year, special task forces will be appointed to accomplish various projects. If you are interested, just indicate “various task forces” on the online form. To volunteer, visit www.sarasotarealtors.com/committees, or go to Page 21 of this issue for the form. Please Fax to 921-2074 before Nov. 1st. www.sarasotarealtors.com

Sarasota Realtor® Magazine

OCTOBER 2011

9

Governmental Affairs

Constitutional Amendments on ballot for 2012

s

By Marc Mansfield Governmental Affairs Director

Seven proposed Constitutional Amendments will be on the 2012 general election ballot. All seven were proposed by the 2011 Florida Legislature and will require voter approval in order to become part of the State Constitution.

A brief description of each amendment is shown below. For a complete summary please visit the Florida Supervisor of Elections Office at election.dos.state.fl.us

Amendment # 1: Health Care Services: Proposing an amendment

to the State Constitution to prohibit laws or rules from compelling any person or employer to purchase, obtain, or otherwise provide for health care coverage.

Amendment # 2: Veterans Disabled Due to Combat Injury Homestead Property Tax Discount:

Proposing an amendment to expand the availability of the property discount on the homesteads of veterans who became disabled as the result of a combat injury to include those who were not Florida residents when they entered the military and schedule the amendment to take effect January 1, 2013.

Amendment # 3: State Government Revenue Limitation: Under the amendment, state revenues,

as defined in the amendment, collected in excess of the revenue limitation must be deposited into the budget stabilization fund until the fund reaches its maximum balance, and thereafter shall be used for the support and maintenance of public schools by reducing the minimum financial effort required from school districts for participation in a state-funded education finance program, or, if the minimum financial effort is no longer required, returned to the taxpayers.

1 year after purchasing the homestead property and who has not owned property in the previous 3 calendar years to which the Florida homestead exemption applied. Florida Realtors速 has announced support for Amendment 4.

Amendment # 5: State of Courts: This proposed constitutional revision eliminates the requirement that a general law repealing a court rule pass by a two-thirds vote of each house, thereby providing that the Legislature may repeal a rule of court by a general law approved by a majority vote of each house of the Legislature that expresses the policy behind the repeal. In addition under current law, the Governor appoints a justice of the Supreme Court from a list of nominees provided by a judicial nominating commission, and appointments by the Governor are not subject to confirmation. This revision requires Senate confirmation of a justice of the Supreme Court before the appointee can take office. Additionally the amendment gives lawmakers more control of judicial rule-making.

Amendment # 6: Prohibition on Public Funding of Abortions, Construction of Abortion Rights:

Amendment # 4: Property Tax Limitations, This proposed amendment provides that public funds Property Value Decline, Reduction for Homestead may not be expended for any abortion or for healthAssessment Increases, Delay of Scheduled Appeal: benefits coverage that includes coverage of abortion. In

This amendment provides that the Legislature may, by general law, provide that the assessment of homestead and specified nonhomestead property may not increase if the just value of that property is less than the just value of the property on the preceding January 1.

The amendment also reduces from 10 percent to 5 percent the limitation on annual changes in assessments of nonhomestead real property. Additionally, the amendment also provides an additional homestead exemption to every person who establishes the right to receive the homestead exemption provided in the Florida Constitution within

10

OCTOBER 2011

addition the proposed amendment provides that the State Constitution may not be interpreted to create broader rights to an abortion than those contained in the United States Constitution.

Amendment # 7: Religious Freedom: The amendment states that no individual or entity may be denied, on the basis of religious identity or belief, governmental benefits, funding, or other support and to delete the prohibition against using revenues from the public treasury directly or indirectly in aid of any church, sect, or religious denomination or in aid of any sectarian institution.

Sarasota Realtor速 Magazine

www.sarasotarealtors.com

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Void where prohibited. All references to clubs, golf clubs and membership opportunities and other amenities are subject to fees, dues and availability. All prices and availability subject to change without notice. ©2011 WCI Communities, Inc. All rights reserved. CGC058372

Property Appraiser

Understanding appraisal process a challenge

We’re here to help you understand the Appraisal Process

The Sarasota County Property Appraiser’s office has the statutory responsibility to determine the value of all real and tangible personal

By Bill Furst, GRI, CRS, CRB property as of January 1 of each year. The Market (Just) Value is Sarasota County established through the appraisal process as set out in Florida Law. Property Appraiser

The Sarasota County Property Appraiser’s office has the statutory In establishing the Market (Just) Value this office employs accepted responsibility to determine the value of all real and tangible personal appraisal practices set forth by the Appraisal Foundation – a national property as of January 1 of each year. The Market (Just) Value is organization based in Washington DC that publishes standards for all established through the appraisal process as set out in Florida Law. appraisers, both private and governmental. Their “ Uniform Standards of In establishing the Market (Just) Value, this office employs Professional Appraisal Practice” are commonly referred to by their accepted appraisal practices set forth by the Appraisal Foundation acronym, USPAP. – a national organization based in Washington DC that publishes

standards for all appraisers, both private and governmental.

Their “Uniform Standards of Professional Appraisal Practice” are The property’s Market (Just) Value is determined using one or more of the commonly referred to by their acronym, USPAP. three approaches to value: The Sales Comparison Approach, the Cost The property’s Market (Just) Value is determined using one or Approach, and the Income Capitalization Approach in conjunction with the more of the three approaches to value: The Sales Comparison eight factors set forth in Section 193.011, Florida Statutes.

Approach, the Cost Approach, and the Income Capitalization

Approach in conjunction with the eight factors set forth in Section The eight factors that the property appraiser must consider in deriving just 193.011, Florida Statutes. valuation, as stated in Florida Law, are: The eight factors that the property appraiser must consider in

deriving just valuation, as stated in Florida Law, are: 1. The present cash value of the property, which is the amount a 1. The present cash value of the property, the amount a willing willing purchaser would pay a willing seller, exclusive of reasonable purchaser would pay a willing seller, exclusive of reasonable fees and fees and costs of purchase, which is considered an arm’s length costs of purchase, which is considered an arm’s length transaction. transaction.

2. The highest and best use to which the property can be expected 2. The highest and best use to which the property can be expected to to be put in the immediate future and the present use of the be put in the immediate future and the present use of the property. property.

3. The location of the property.

3. The location of the property.

4. The quantity or size of the property.

4. The quantity or size of the property.

5. The cost of the property.

5. The cost of the property.

6. The condition of the property.

6. The condition of the property.

7. The income generated by the property.

7. The income generated by the property.

8. The net proceeds of the sale of the property received by the seller, 8. The net proceeds of the sale of the property received by the after deduction of all of the usual and reasonable fees and costs of seller, after deduction of all of the usual and reasonable fees and the sale, and excluding payments for household furnishing and costs of the sale, and excluding payments for household furnishing other times of personal property. and other items of personal property.

We gather this information from public records, cost information, We gather this information from public records, cost information, plans plans and specifications, our historical office information, and specifications, our historical office information, confidential taxpayer confidential taxpayer information and third party data available by information and third party data available by subscription or other means. subscription or other means.

Along with the Just Value, all parcels also have an Assessed Value Along with the Just value, all parcels also have an Assessed value and a and a Taxable Value. These values are derived by statute and are not the result of the appraisal process. The Assessed Value may vary Taxable value. These values are derived by statute and are not the result from the Market (Just) Value depending on the homestead status of For more of the appraisal process. The Assessed value may vary from the Market the property. Homestead assessed value increases are capped at the (Just) value depending on the homestead status of the property. information, annual percent change in the Consumer Price Index (not to exceed contact the Homestead assessed value increases are capped at the annual percent 3%); non-homesteaded property is capped at 10%.

Property change in the Consumer Price Index (not to exceed 3%); non‐homesteaded Taxable Value is the result of subtracting any applicable Appraiser’s property is capped at 10%. office exemptions from Assessed Value. Taxable Value is the amount used at 941.861.8200.

for tax levying purposes.

Taxable value is the result of subtracting any applicable exemptions from Assessed Value. Taxable value is the amount used for tax levying purposes.

12

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OCTOBER 2011

Sarasota Realtor® Magazine

Statutes and Regulations Governing the Appraisal Process

Article VII, Section 4, Florida Constitution: By general law regulations shall be prescribed which shall secure a just valuation of all property for ad valorem taxation.

Section 192.011, Florida Statutes All property to be assessed: The property appraiser shall assess all property located within the county, except inventory, whether such property is taxable, wholly or partially exempt, or subject to classification reflecting a value less than the just value at its present highest and best use.

Section 192.042 Date of Assessment: All property shall be assessed according to its just value as of January 1.

Section 193.011 Factors to consider in deriving just valuation: See the text of the article for more detail.

Section 193.023 Duties of the property appraiser in making assessments: In making his or her assessment of the value of real property, the property appraiser is required to physically inspect the property at least once every 5 years.

In addition to statutory requirements, that differ from state to state, the Sarasota County Property Appraiser’s office adheres to the national Uniform Standards of Professional Appraisal Practice, USPAP.

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

WANT MORE INFORMATION ON NAVIGATING OUR WEBSITE? OUR GIS/IT DEPARTMETN IS AVAILABLE FOR DEMONSTRATIONS AND DISCUSSION.

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

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Medallion Home’s Weekend Escape

Seek refuge from the hustle and bustle of season with Medallion’s Weekend Escape to South Seas Island Resort. Every time you visit any of our neighborhoods you are eligible to register to win! The more Medallion Home neighborhoods that you visit, the better your chances of winning.

PLUS...

Receive a $500 Gold Medallion* at each neighborhood that you visit.

Redeem the coins when you sell a Medallion Home and receive $500 for each coin collected*, in addition to your commission at closing. Must present coins at time of registration. A voucher will be given for coins redeemed at signing of contract.

No more than 10 Medallions ($5000 value)* may be redeemed per sale.

Visit Medallion neighborhoods by 1/31/12 to register for a drawing to win a Weekend Escape for two to South Seas Island Resort. Weekend includes accommodations, spectacular views, breathtaking beaches, a massage at the Kay Casperson Lifestyle Spa & Boutique, fine dining at the resort Friday and Saturday night, leisurely breakfast in bed on Saturday, and all the peace and quiet you can stand. Walk into any of our models for a chance to find your peace.

Congratulations to our previous winners!

Pat McMillan with Prudential Lakewood Ranch Realty was presented with a weekend at Longboat Key Club and Elizabeth Gardini with Michael Saunders & Co. just won the Blooming Bonus Backyard $2,500 Make Over!

Medallion Neighborhoods Gamble Creek Estates from the upper $100’s 4909 131st Drive E • Parrish, Florida 34219 Contact Susan or Alex 941-747-7750 River Plantation from the upper $100’s 2432 129th Avenue East • Parrish, Florida 34219 Contact Connie or Austin 941-776-0777 Country Meadows from the upper $100’s 836 148th Court NE • Bradenton, Florida 34212 Contact Arthur or Sal 941-747-7750 Cascades at Sarasota from the mid $200’s 6773 41st Street Circle East • Sarasota, Florida 34243 Contact Holly or Jordan 941-309-3917 Stonewalk Preserve from the mid $200’s 19646 Cobblestone Drive • Venice, Florida 34292 Contact Celica or Angie 941-567-2658 Bobcat Trail from the upper $100’s 2802 Royal Palm Dr • North Port, Florida 34201 Contact Gabe 941-429-0990 Riva Trace from the upper $200’s 7515 Rio Bella Place, Sarasota, Florida 34201 Contact Gregg 941-448-9456 Mount Dora (Coming Soon) Mount Dora, Florida 23343 Contact Gregg 941-448-9456 Hillcrest Place from the mid $200’s 5607 NW 5th Terrace, Bradenton, Florida 34203 Contact Gregg 941-448-9456

www.MedallionHome.com

* Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Must Register at each location that you enter into drawing. Not valid in combination with any other promotion. Offer ends 1/31/12.

Shadow Inventory: Is it hype or reality?

What is it, where is it, and will it influence prices in SW Florida?

Part 1 of 2

By Michael J. Belle, Esq. Realtor®-Attorney Joint Committee Will a shadow inventory tank prices in Southwest Florida?

It is the question you hear most often whenever Realtors® gather together and the subject of foreclosures is discussed.

But what is a shadow inventory?

Generally defined, in the most conservative way, it is the group of bank-owned/REO homes that has not been released to the market for sale. The problem is that this term means different things to not only different groups but to different people within the same groups. How do different groups or individuals define the term? Generally speaking the term includes the following possibilities: 1. Properties where borrowers are 90+ days delinquent on their loans and/ or are in pre-foreclosure but the subject asset is not owned by the financial institution that holds a lien on the property; or 2. Properties in foreclosure where a judgment has or has not been issued and a sale of the subject real property has not been completed; or 3. REO (Bank Owned) properties; or 4. Any combination of the prior three categories.

Clearly, properties that are owned by the bank but not listed for sale should be included in the definition of a shadow inventory. Those properties wherein the bank has obtained the foreclosure judgment but is awaiting the foreclosure

14

OCTOBER 2011

sale to occur are not a bank asset but are generally included in the broad definition of a shadow inventory. The definition becomes much more cloudy when you add to the mix those properties where a foreclosure has not been filed but the borrower is delinquent a set number of days (i.e. 90+), because statistically these properties will eventually be subject to a foreclosure proceeding. How you define the term will determine how many homes or properties are actually included in the term shadow inventory.

Reality versus expectation The amount of speculation that surrounds this issue grows and wanes depending upon the available news relating to housing prices and statistics associated with historical data associated with sales of homes in the area. The majority of concern centers around the

effect the unknown market of homes to be listed in the future will have on the market conditions as it relates to sales volume and pricing. The actual shadow market seems to have had less of an impact on sales as the expected shadow market has had.

This reality versus expectation problem continues to the present day. Like most unknowns in business, rumor and speculation have a larger impact than factual reality. In reality many homes are not coming to market for specific reasons and as a result, the total number of homes sold each month only includes a small number of REO properties.

The reason for homes not being placed on the market include problems with

Sarasota Realtor® Magazine

the documentation used by the financial institutions during the foreclosure process, the myriad of government regulation associated with the recent financial crisis, and numerous other business decisions by the actual financial companies.

These problems, added with the possible reality that financial institutions may be less inclined to recover assets with a diminished value, may also be delaying the recovery of many real property assets. This economic decision by financial institutions may affect the commercial market greater than the residential market.

According to a May 20, 2011 report by the quasi-government agency Fannie Mae, a “modest improvement” in housing activity this year is expected. The report also noted that “the prevalence of distressed properties on the market has led to renewed weakness in home prices and the industry’s shadow inventory looms large.” This report underscores a lack of exuberance in the recovery of the values associated with real property.

The Effect on SW Florida The effect on the local real estate market is eventually the bottom line to all financial data, number crunching or analysis. Speculating on national trends may provide interesting debate, but location, location, location is where the rubber hits the road as it pertains to sales of property in SW Florida.

Consumers may be universally affected by the economic realities of the present which may affect one’s ability to purchase, but the draw for ownership of real property in SW Florida because of the area (location) remains unchanged.

It is that attraction to the area that is the engine that will be a driving force in the recovery of the real estate markets for SW Florida over other real estate market when all other economics are equal.

In the next installment of this article I will discuss the actual effect of the bank owned inventory and the status of foreclosures in Southwest Florida. www.sarasotarealtors.com

a

Market remains stable in August 2011; inventory drops to new 10-year low

a

A steady drop in property inventory for sale, combined with been dramatically increased, and agents are now fielding a stable, sales demand in the Sarasota real estate market, is multiple bids on many properties. pointing toward normal, healthy property appreciation in the The months of inventory dropped slightly to 6.3 months for coming months. single family homes, from last month’s figure of 6.4 months.

An analysis of sales, prices and inventory figures reflects For condos, the months of inventory also dropped to 10.2 a market in recovery, led by a declining pool of available months from July’s figure of 10.7 months. In August 2010, the properties on the market. The inventory of available properties figures were 9.3 months and 13.5 months, respectively. Both for sale has been dropping for the past nine months, and hit figures again remained far below the highs of 25.3 months for another decade-low figure of 4,408 in August 2011. Sales single family (in early 2009) and 41.7 months for condos (in during the past 10 months have exceeded 500 every month, late 2008). This statistic represents the time it would take to and exceeded 700 four times. As a likely result of consumer sell the existing inventory at the current month’s rate of sales. demand and dropping inventory, the median sale price The 6 month level is traditionally a point which represents equilibrium in the market for single family homes and between buyers and sellers. condos has recovered from the “... We can clearly see the normal market forces lows reached in February 2011, In some price ranges, of supply and demand as Sarasota is becoming when both categories showed the available inventory is a seller’s market, in which price appreciation a median price of $137,500. even tighter. For example, The latest monthly figures in would be expected.” combining single family August showed a median price homes and condos priced - SAR President Michael Bruno of $165,000 for both single under $200,000, there were family homes and condos – a 350 sales last month, and 23 percent improvement from there are 1,653 properties the lows of only seven months ago. available under that price, or 4.7 months of inventory. This “We’re starting to see a definite trend line developing, and number represents a clear seller’s market, in which bidding it’s very positive,” said SAR President Michael Bruno. “No competition and price appreciation would be expected. one has a crystal ball, and it wouldn’t be wise for anyone to For properties priced under $350,000, most price ranges make a solid prediction on the future of our market. But are indicating a seller’s market has returned. This is in marked we can clearly see the normal market forces of supply and contrast to three years ago, when a buyer’s market was in full demand as Sarasota is becoming a seller’s market, in which force. price appreciation would be expected.”

In August 2011, pending sales were roughly the same as in The local market is mirroring the national picture to some July 2011 – 618 for single family homes, and 195 for condos, extent. NAR Chief Economist Lawrence Yun recently noted, for a total of 813. This was also almost identical to last August “The (national) housing market is still not yet back to normal, when 816 pending sales were reported. but the inventory component is moving in the right direction.

“We are coming out of the usually slower summer sales There were 3.6 million existing homes on the market for sale, months with a much improved, healthier real estate market,” down measurably from the peak inventory of 4.6 million in said Bruno.

“The fall should prove to be steady and strong. the summer months of 2008.”

The only thing continuing to hold back our market from even Members of the Sarasota Association of Realtors® reported bigger numbers is the percentage of distressed sales, which is 601 property sales in August 2011, which was almost 6 still higher than we’d like to see.” percent higher than the August 2010 total of 567 sales. The The overall percentage of distressed sales (foreclosures and breakdown was 445 single family home closings (the same as short sales) rose slightly in August 2011 to 41.2 percent from in July 2011) and 156 condo closings (two more than in July). the 38 percent figure in July 2011. That compares to 47 The median sales prices (noted above) were about 6.5 percent percent as recently as February 2011 and a high of 51 percent higher than last year at this time. in November 2010.

In August, the total inventory of available properties “The non-distressed properties are still selling for two dropped again to the lowest level in more than a decade. or three times more than the short sales and foreclosures,” There were 2,817 single family homes and 1,591 condos on explained Bruno. “This is a huge difference, and naturally the market. The current figure represents an astonishing drop pulls down the overall median sale price. But everyone remains from the high of 17,102 properties on the market in March hopeful that the distressed inventory, which now represents 2007. With only a quarter of the properties on the market less than 20 percent of the total available properties, will start compared to four years ago, competition for properties has to drop rapidly in the coming months.” www.sarasotarealtors.com

Sarasota Realtor® Magazine

OCTOBER 2011

15

Sarasota MLSSM Statistics - August 2011 Single Family Condo

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

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11 May‐11

Median Sale Price

Single Family

Jun‐11

Jul‐11

Aug‐11

Condo

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

Sep‐10

Oct‐10

Nov‐10 Dec‐10

Jan‐11

Feb‐11

Mar‐11 Apr‐11 May‐11 Jun‐11

Jul‐11

Aug‐11

Single Family

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported

%Pending

# New Listings

# Off Market

This Month

2,817

445

15.8

180

$165,500

$157,000

6.3

618

21.9

311

186

This Month Last Year

3,887

408

10.5

178

$154,500

$161,000

9.5

599

15.4

806

215

2,829

445

15.7

174

$169,900

$156,000

6.4

609

21.5

311

212

‐

4,089

‐

181

$155,000

‐

‐

5,482

‐

3,474

‐

Oct 95.2 ‐

Nov 94.8 ‐

Dec 94.1 ‐

Last Month YTD

Jan 94.4 94.5

2010 2011

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

Mar 95.2 94.7

Apr 94.8 94.1

May 95.2 94.2

Jun 95.3 94.3

Jul 94.7 94.1

Aug 95.2 94.5

Sept 94.6 ‐

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

Source: Sarasota Association of Realtors® 16

OCTOBER 2011

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - August 2011 Single Family Condo

Inventory 5,000 4,000 3,000 2,000 1,000 0 Aug‐10 Sep‐10

Oct‐10 Nov‐10 Dec‐10

Jan‐11

Feb‐11 Mar‐11 Apr‐11 May‐11 Jun‐11

Jul‐11

Aug‐11

Single Family Condo

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

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Condo

This Month This Month Last Year Last Month YTD

2010 2011

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

1,591

156

9.8

210

$165,000

$163,950

10.2

195

12.2

221

215

2,152

159

7.4

193

$155,000

$169,900

13.5

217

10.1

254

169

1,656

154

9.3

200

$145,000

$162,250

10.7

190

11.5

199

225

‐

1,620

‐

215

$167,300

‐

‐

1,828

‐

1,971

‐

Oct 94.3 ‐

Nov 94.5 ‐

Dec 92.9 ‐

Jan 92.5 93.4

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

Mar 92.5 92.2

Apr 93.2 93.4

May 94.2 94.5

Jun 93.7 94.2

Jul 94.2 92.5

Aug 93.5 93.1

Sept 93.2 ‐

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

Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

OCTOBER 2011

17

CID (Commercial Investment Division)

CID charity golf tourney slated October 24th

This year’s Commercial Investment Division Charity Golf Tournament will be held on Monday, Oct. 24th at 11:30 a.m. at the TPC Prestancia Stadium Course in Sarasota’s Prestancia community.

The tournament will raise funds to benefit The First Tee of Sarasota/Manatee. The organization teaches The First Tee Nine Core Values™ providing the vehicle through which kids can accomplish their dreams, thrive socially, excel academically and athletically, and become productive members of society with integrity, strong family values and commitment to community.

Several sponsorship levels are available. Diamond Sponsors ($5,000), Platinum Sponsors ($2,500), Beverage Sponsor ($1,500), Gold Sponsors ($1,000), Silver Sponsors ($500), Bronze Sponsors ($250) and Hole Sponsors ($100) are now being sought.

CID is also looking for raffle prizes and goodie bag items to distribute to the golfers. Go to www. sarasotarealtors.com and look under Hot Topics for more information, plus the registration and sponsorship forms.

You can sign up as a foursome, or individually and be placed into a foursome. Prizes will be awarded for various competions during the tournament.

Cost for the tournament is only $120, which includes a box lunch and the awards reception. Nongolfers may attend the reception only for $35.

Sign-in begins at 11:30 a.m. and shortgun start is at 1 p.m. At 6 p.m., hors d’oeuvres are served and raffle prizes and awards are handed out. Contact Marc Mansfield at marc@sarasotarealtors.com for more, or visit www.sarasotarealtors.com.

2011 CID Officers & Directors Officers:

Directors:

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

OCTOBER 2011

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

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Commercial growth forecasts moderated Commercial real estate vacancy rates are flat and projections for growth have been moderated because economic growth and job creation have been weaker than expected, but modest improvements are expected over the coming year, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said the weakening economy will slow the growth in demand for space.

“Disappointing economic growth in recent months means a slower recovery for most of the commercial real estate sectors, although multifamily housing continues to benefit from pent-up demand resulting from an abnormal slowdown in household formation in recent years,” he said. “Many young people, who normally would have struck out on their own from 2008 to 2010, had been doubling up with roommates or moving back into their parents’ homes. However, they’ve been entering the rental market as new households in stronger numbers this year. As a result, apartment vacancy rates are declining and rents are rising at faster rates.”

Growth in the Gross Domestic Product slowed to 0.4 percent in the first quarter and 1.3 percent in the second quarter, much lower than the 4 to 5 percent expansion needed after a recession.

“A healthy recovery is already occurring in the multifamily sector, with average apartment rent expected to rise 2.5 percent this year and another 3.2 percent in 2012,” Yun said. “Normally, rising rents correspond to rising home prices. However, this isn’t happening in this recovery because buyers are constrained by unnecessarily restrictive mortgage underwriting standards, so the underlying demand isn’t drawing inventory down quickly enough to support price growth.”

Looking at commercial vacancy rates from the third quarter of this year to the third quarter of 2012, NAR forecasts vacancies to decline 0.3 percentage point in the office sector, 0.6 point in industrial real estate, 0.7 point in the retail sector and 0.9 percentage point in the multifamily rental market.

Fundamentals are largely unchanged, with vacancy rates relatively flat. Eight out of 10 respondents said office and industrial leasing activity is below historic levels, and seven out of 10 said asking rents are below a year ago. It remains a tenant’s market, with many tenants benefiting from moderate

concessions and rent discounts.

Construction activity is nearly nonexistent in most areas, and it is a buyer’s market for development acquisitions. Local experts said commercial office and industrial prices are below construction costs in 83 percent of markets.

NAR’s latest Commercial Real Estate Ooutlook offers projections for major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas were provided by REIS, Inc.,3 a source of commercial real estate performance information.

Office Markets Vacancy rates in the office sector are forecast to fall from 16.6 percent in the third quarter of this year to 16.3 percent in the third quarter of 2012.

The markets with the lowest office vacancy rates currently are Washington, D.C., with a vacancy rate of 8.6 percent; New York City, at 10.1 percent; and Long Island, N.Y., 13.0 percent.

Office rents are expected to rise 0.8 percent in 2011 and another 1.5 percent next year. Net absorption of office space in the U.S., which includes the leasing of new space coming on the market as well as space in existing properties, is projected to be 28.3 million square feet this year.

Industrial Markets Industrial vacancy rates are likely to decline from 12.7 percent in the current quarter to 12.1 percent in the third quarter of 2012.

At present, the areas with the lowest industrial vacancy rates are Los Angeles, with a vacancy rate of 5.5 percent; Orange County, Calif., 6.2 percent; and Miami at 8.9 percent.

Annual industrial rent is expected decline 0.9 percent this year before rising 2.0 percent in 2012. Net absorption of industrial space nationally should be 47.8 million square feet this year.

Retail Markets Retail vacancy rates are projected to decline from 12.9 percent in the third quarter of this year to 12.2 percent in the third quarter of 2012. - NAR Commercial Report

CID slates meetings for October 2011

CID General Membership Meeting - Tuesday, Oct. 18th, 8:30 a.m. – SAR Auditorium Commercial Marketplace Sessions - Friday, Oct. 7th, 9 a.m. – SAR Auditorium - Friday, Oct. 14th, 9 a.m. – RE/MAX, 2000 Webber Road www.sarasotarealtors.com

- Friday, Oct. 21st, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, Oct. 28th, 9 a.m. – SAR Auditorium Special Event - Monday, Oct. 24th, Noon - CID Charity Golf Tournament, TPC Prestancia

Sarasota Realtor® Magazine

OCTOBER 2011

19

Education Programs

Senior real estate issues explored

Title: SRES (Seniors Real Estate Specialist) Dates: Oct. 11-12 Cost: SAR Member, $99; Others, $149 Register at www.sarasotarealtors.com Adults aged 50+ represent more than 20 percent of the U.S. population. For most senior adults, the homes that they live in are their largest asset and account for most of their net worth.

Completion of the Seniors Real Estate Specialist (SRES®) Designation Course is an essential step for Realtors® in understanding the goals, concerns, and needs of seniors today.

This course looks at key differences in housing options, Older Persons Act (HOPA); the ins and outs of reverse from age-restricted communities to age-in-place design mortgages; the use of pensions, 401k accounts, and to assisted living; applications of the Housing for more. Instructor: Jim Dague

GRAS stages course for LEED home certification Title: LEED for Homes, Myth vs Reality Date: Thursday, Nov. 17, 5.30 to 8 p.m.

Registration and hors d’oeuvres begin at 5.30 Pre-register online at www.usgbc-fgc .

Where: SAR Auditorium Cost: $5 for members of SAR and Gulf Coast Chapter USGBC. $10 for General Public.

On Thursday, Nov. 17, the Sarasota Association of Realtors®, the Green Realtors® Alliance and the Myakka River Branch of the US Green Building Council will sponsor an event to discuss “LEED for Homes: Myth vs Reality.” The event will be a panel discussion moderated by Harold Bubil of the Sarasota HeraldTribune. Panelists will include: • Doug Driscoll, local architect and LEED for Homes Green Rater for the LEED Platinum Palazzi al Mare luxury duplex project in Lido Shores.

• Ron Spoor, COO for Pinellas County Habitat for

Humanity reporting on the LEED Certified Shady Grove Townhome project in Dunedin.

• Josh Wynne, Aurora award-winning Sarasota builder reporting on his LEED Platinum Power Haus project in the Polo Club.

The discussion will attempt to address the conventional wisdom that LEED for Homes is “too complex,” “too costly,” and generally only for high-end projects where money is no object.

A LEED for Homes certification demonstrates that a home has been built to standards established by the US Green Building Council. These standards ensure that the home will deliver measurable benefits to the owner in several important areas, including: • Lower utility costs due to improved energy efficiency and lower water use.

• Lower maintenance costs due to increased durability of construction.

Price break for Certified Luxury Home Marketing course Title: Certified Luxury Home Marketing Specialist Date: Feb. 28-29, 2012 Cost: $495 before Oct. 15, 2011; $550 after SAR is pleased to announce that the Luxury Home Marketing Institute will be bringing its Certified Luxury Home Marketing Specialist training to SAR Feb. 28-29, 2012. Register by Oct. 15, 2011 and save $55 on the $550 registration fee.

The registration fee includes: • One year of Institute membership • Complimentary agent profile on www.

20

OCTOBER 2011

LuxuryHomeMarketing.com • Free luxury agent profile-plus one free listing every 60 days—on the Wall Street Journal’s website (a $2,900 value) • Placing your listings on the international MLS, known as ProxioPro, with a free standard account and automatic translation into 16 languages.

To register for the course, or for more information, go to this website: www.LuxuryHomeMarketing.com/ Sarasota. You may also call 214-485-3000 to register.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

2012 GRI schedule for region released

Once again, SAR is the only association within 100 miles that is offering the GRI program in 2012—and we are offering all three courses so that the designation can be completed within one year.

Did you know that Realtors® who hold just one designation make on average twice as much as Realtors® who don’t and that only one in every three Realtors® holds any designation at all? In today’s competitive business environment you need more than just motivation and initiative to succeed--you need the advantage of the education you receive in the GRI program.

This GRI series is offered by the Florida Realtors® through its Florida Realtor® Institute.

All the instructors have been carefully screened for their knowledge of the subjects as well as for their teaching techniques—they’re the best real estate teachers in the state.

GRI Course 1- This course satisfies 14 Hours CE for Brokers and Sales Associates; 45 Hours Salesman’s Post License Education; and NAR Code of Ethics Training Requirement Date: Jan. 23-25 & Jan. 30-Feb 1, 2012

GRI Course 2- This course satisfies 11 Hours CE for Brokers and Sales Associates; 30 Hours Broker Post-License Date: April 23-25 & April 30-May 2, 2012 GRI Course 3- This course satisfies 11 Hours CE for Brokers and Sales Associates; 30 Hours Broker Post-License Date: July 23-25 & July 30-Aug. 1, 2012

MAKE YOUR COMMITTEE CHOICES Yes, I would like to serve on: 1st Choice: 2nd Choice: 3rd Choice: Print Name: Company: Phone:

Fax:

E-mail: Return this form to SAR by November 1, 2011 or Fax to 921-2074

See the Committee Descriptions on Page 9 of this issue! www.sarasotarealtors.com

Sarasota Realtor® Magazine

OCTOBER 2011

21

NAR Quadrennial NAR Quadrennial Code of Ethics The sixth Code course in theof iCE Ethics (Internet CE series), which The sixth course in the iCE (Internet CE series), which

SAVE THE DATE SAVE THE Friday, October 21, 2011DATE • 5-8pm

Friday, October 21, 2011 • 5-8 pm provides the NAR Mandatory Code of Ethics Training, will provides the Dec. NAR6th Mandatory of Ethics Training, will SECOND ANNUAL be held on at 1 p.m.Code The Code of Ethics is central SECOND ANNUAL betoheld on Dec. 6th at 1 p.m. Because The Code is central the Realtor® organization. of of its Ethics importance, the toNational the Realtor® organization.

Because its importance, the4 Association of Realtors® has of mandated that every National of Realtors® every course four years all Association Realtors® must completehasa mandated 2 1/2 hourthat renewal years all Realtors® complete a 2 of 1/2 hourasrenewal courseof of instruction on must the Realtor® Code Ethics a condition ofmembership. instruction on theCode Realtor® Code of Ethics as a condition of This of Ethics Training is offered to SAR membership.

This Code Specialty of Ethics CE. Training is offered to SAR members with 3 Hours members with 3 Hours Specialty CE. If your last Code of Ethics was prior to January 1, 2009, If your last Code of Ethics prior now. to January 1, 2009, you will need to schedule yourwas training The course must you will need to schedule your training now.

The course must be completed by December 31, 2012. Check your education berecords completed

by December 31, 2012. Check your education carefully!

TheThe Affiliates Associationof Affiliatesofofthe theSarasota Sarasota Association records carefully!

If you prefer to take your education online, go directly to of Realtors areonce onceagain again hosting host Realtors®®will If you website prefer to your educat ion online, go directly to NAR’s at take www.realtor.org. a magical night a magical nightofofcelebrating celebrating NAR’s website at www.realtor.org.

A CHANGE SEASON. A CHANGE OFOF SEASON.

Changing Changing of the Seasons Seasons GALA

GALA

always, SAR Realtor ® members only As As always, Realtors ® are invited

CONGRATULATIONS! Dedication and hard work pay off!! We congratulate our members who have successfully completed the National Association of Realtors® GRI (Graduate, Realtor® Institute), the Certified Residential Specialist (CRS) designation), Emerging Leaders Program, and Short Sale and Foreclosure Certification (SFR).

are invited as our guests at no charge. as our guests at no charge.

JOIN US FRIDAY, OCTOBER 21 SAR Auditorium JoinatustheFriday, October 21 from 5-8 pm thisspecial specialevening. evening. from 5-8pm forfor this

Dress is business casual/semi-formal.

ForFor more information, more information,contact contactDan DanAndrews Andrews atat Dan@SarasotaRealtors.com Dan@SarasotaRealtors.com

Graduate, Realtor® Institute (GRI) Pamela K. Clouser Frank D. Lauber Viola R. Klee Janice E. Benedick Michelle C. Dunbar E. Dean Qualls Frederick Bingham Glenda J. Matheson Len Baggerman Elaine K. Adair Catherine Lamphier

Key Solutions Real Estate Group Andrews & Associates Coldwell Banker Residential RE Atchley International Coldwell Banker Residential RE Blakely & Associates Prudential Palms Realty RSVP Real Estate Company, Inc. RE/MAX Alliance Group RE/MAX Alliance Group Michael Saunders & Company

Certified Residential Specialist (CRS) Gail A. Lidinsky Linda D. Barchard

Award-winningprinting printing Award-winning andcustomer customerservice service and Specializingininpocket pocketportfolios, portfolios, Specializing die-cuttingand andfoil-stamping foil-stamping die-cutting donein-house in-house done

Crown Properties Group Inc. Coldwell Banker

FSCand andSFI SFIcertified certified FSC helpyou yougogogreen green totohelp

SAR Emerging Leaders Program Graduates Mabell DeBonis, ABR, GRI Christine del Monte Karen Grant, TRC Renee Marquiss, SFR John Michailidis Xena Vallone, SFR

Sandals Realty of Sarasota Michael Saunders & Company Michael Saunders & Company Xena Vallone Realty Inc. SaraMana Properties Xena Vallone Realty Inc.

Short Sale and Foreclosure Certification (SFR) John J. Scherden Greg Rappaport Ronald Beahm 22 22

OCTOBER2011 2011 OCTOBER

Keller Williams Lakewood Ranch EXP Realty LLC RE/MAX Alliance Group

Sarasota’sPremier PremierReal RealEstate EstatePrinter Printer Sarasota’s 1730Independence IndependenceBlvd., Blvd.,Sarasota, Sarasota,FLFL34234 34234 1730 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com sales@coastalprint.com

SarasotaRealtor® Realtor®Magazine Magazine Sarasota

www.sarasotarealtors.com www.sarasotarealtors.com

Explore the possibilities of MLXchange

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 Oct. 3 or Oct. 17, 9 a.m. to Noon Mandatory session for all new users.

Learn the basic tools of MLXchange.

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

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

- Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information

Entering and Updating Listings in MLXchange Oct. 3 or Oct. 17, 1:30 to 3:30 p.m.

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

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

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

have specific entries in the Rules and Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listings iMapp - Interactive Tax and Mailing Labels Oct. 5, 9 a.m. to Noon 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 A Professional CMA Oct. 5, 1:30 to 3:30 p.m.

This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, Sarasota Realtor® Magazine

selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default MLXchange Advanced Oct. 13, 9 a.m. to Noon Take MLXchange to the next level!

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

- Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order - Editing favorite reports Design Web Pages, Capture Leads Oct. 13, 1:30 to 3:30 p.m.

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

- Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders - Plans manager, copying and modifying the action plan - Emailing the client private webpage - Customizing email templates OCTOBER 2011

23

On the SAR Scene

SAR members celebrate Habitat home dedication

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

Photos by Ray Porter and Jesse Sunday The SAR-Habitat for Humanity Home dedication ceremony was held on Sept. 10th, and volunteers celebrated the event with Teresa Dixon and her children. Here, Community Outreach Committee members gather around the patio set, SAR’s housewarming gift to the family.

Community Outreach Committee Chair Elaine Adair congratulates new homeowner Teresa Dixon, a Sarasota County school system bus driver who won the hearts of SAR volunteers who helped rehabilitate her new Habitat home.

Above, Christina Pitchford and Gail Shane at the Sept. 16th SAR Annual Meeting. At left, the Realtor® Emeritus honorees at the annual meeting included: Jessie Cristello, Thomas Holzer, Elia Miller, Linda Page, James Piro and Erick Schumway. Congratulations!

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OCTOBER 2011

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The fifth annual Sarasota International Real Estate Congress was another big success, and generated an informative international market analysis by the local media.

According to a recent article in the Sarasota Herald-Tribune that was published just after the Sept. 13-14 Congress, “Just as tourism has been one of the few bright spots in the Southwest Florida economy, foreign real estate buyers have become a key source of demand for an industry eager for buyers.”

The article continued, “That At the Congress are (left to right): David Hunihan, Gail Shane and John Neal of Neal Communities; SAR President Mike Bruno; Michelle Crabtree; has been particularly true for condominiums in Sarasota and and Harold Bubil of the Sarasota Herald-Tribune single-family homes and vacant The Congress, now in its fifth foreign addresses bought more than lots in North Port.” year, attracts international real 1,000 parcels in the two counties The big news, according to estate practitioners and experts last year, totaling more than $100 the newspaper, is that foreign from the region, the state, and even million in value ...” ownership in Sarasota and Manatee from foreign nations. It has proven Foreigners, primarily Canadians counties jumped 10 percent last extremely popular over the years, and Europeans, own more than year and is up by more than one and plans are already underway for 11,000 parcels with values totaling third since 2007. the 2012 event.

The article noted, “Owners listing $1.7 billion in the two counties.

Global Business Council

International Real Estate Congress a hit

The fifth annual Sarasota International Real Estate Congress, held at the Sarasota Hyatt, attracted more than 100 people, Julia Applegate and Helen Wiegman at the who enjoyed informative talks, networking, and education. Sarasota International Real Estate Congress. www.sarasotarealtors.com

Sarasota Realtor® Magazine

OCTOBER 2011

25

Broker Corner 26

Real estate to go: Mobilility = Freedom

David Hicks, owner of Amery, Wis.–based Century 21 Premier Group, has been a broker since 1975—well before the digital age.

Until earlier this year, his brokerage included nine offices in western Wisconsin with about 100 salespeople. Then, in midJanuary, he heard about a prime opportunity to buy a ZipRealty office in nearby St. Louis Park, Minn., which would help him expand into the Twin Cities metropolitan area.

That cold wintry week, rather than drive to Minnesota, he hopped on a plane for a three-week trip to Hawaii. And soon after he got back, he was off to Phoenix, where he’s spent his winters for the past six years. In the meantime, he managed to buy the brokerage and grow his sales force by roughly 60 percent.

“At my age—I’m 58—I’m thinking it’s time to relax,” Hicks says. “I’ve known too many brokers who retire and die within two or three years. They waited too long. I don’t want to be one of those people. I’m trying to do some things I like to do and position myself so I can oversee the business.”

With the use of several tech tools, he’s managed to do both. He stays in touch via phone and e-mail and logs in to the company’s computers using a remote desktop connection that is a feature of its Microsoft server. Documents that need his signature are done “the old-fashioned way,” Hicks notes, but that doesn’t mean sending faxes or FedEx envelopes from Hawaii. PDFs of documents are e-mailed to him; he prints and signs them, scans them, and e-mails them back. He prefers scanning documents to faxing them. “We lost so much quality with faxes.” Hicks says he felt comfortable leaving town during the acquisition because he knew he’d be available to his team working on the deal.”Since this acquisition took place, I’ve put in full days every day,” he says. “I just do it from Hawaii or Phoenix.”

Seeking Instant Gratification Over the past decade, working remotely has become common in many industries—especially real estate, an inherently mobile profession. For broker-owners, giving

OCTOBER 2011

associates a way to be productive away from the office is a way to cut costs on everything from printer paper to office space as well as to improve response times to clients and agents.

In Pottsville, Pa., broker-owner Erica Ramus of Realty Executives has essentially replaced FedEx with ZipForms and DocuSign—electronic document services that have saved time and money. The five-person brokerage does a lot of estate and trust work, and many clients are from out of town. That used to mean high shipping costs and delay times, but not anymore, Ramus says.

In addition, all of their real estate documents are online through Google Docs and a Google-based intranet. “You don’t have to constantly go to the office to check on things,” Ramus says. “Someone the other day needed an invoice for a rental property. She was 30 miles away. Boom, she had it.”

Technology makes it possible to streamline operations and still provide a high level of service and support to agents and clients, says Joe Adkins, broker-owner

Sarasota Realtor® Magazine

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of Altamonte Springs, Fla.–based The Realty Factor and The Rental Factor. The company has 50 agents in offices in Jacksonville, Orlando, and Fort Lauderdale, but most of them work from home. “Pretty much everything is online,” he says. “It’s good for us. If we get audited or a client calls us three years later and needs a HUD-1 statement, we have it.

That has happened.”

Agents use a portal on the company’s Web site to upload their scanned contracts. Adkins is notified by e-mail “as soon as they click submit,” he says, which helps him stay on top of the transactions. All documents and databases are backed up nightly to a 4-terabyte server and to a remote location.

This type of set-up is becoming the new standard for real estate brokerages, Adkins says. “If you don’t go wireless, you’ll be left behind,” he says.

Even managers who are sometimes frustrated by technology can’t deny its benefits. “I want to be right there for my agents,” says Val Hatzelis, sfr, broker-manager of Oak Lawn, Ill.–based RE/MAX 10. “Because I’m in so many different places, I can’t physically be there for everyone at the exact moment they need me.” She relies on her iPad to stay in touch with about 110 agents in four offices.

“I can get to a document in the car, modify it, OK it, and get it back to them,” Hatzelis says. “It would be unbelievable if I had to stop, drop everything, and find a fax machine.

That’s crazy.”

What’s In Your Tech Toolbox?

Some tools are a necessity for running a brokerage remotely. For example, you must have a laptop and a highquality multifunction printer. But that’s just the beginning.

Luxe Global Inc. in Rancho Santa Fe, Calif., which sells luxury property in addition to jets and yachts, relies on Internet-based conferencing through Skype—a very useful solution since broker and CEO Robert L. Mani works with affiliate agents on several continents.

Like a growing number of broker-owners, Mani also uses a virtual phone system (his company uses Grasshopper).

It provides a toll-free number with individual extensions for associates and a voice mail system that goes right to cell phone numbers. “It makes us sound as if we’re a big corporation,” he says. Callers have the option to dial zero for an operator; those calls go to the cell phone of his assistant.

If she’s “out to lunch or with an agent,” he says, the phone’s caller ID will read “Phone Call for Operator,” so she knows to answer it instead of letting it go to voice mail.

Luxe Global’s agents also use an online transaction management system called Relay. Mani can “see what transactions they’re doing, make any necessary changes, and approve any documents they send out.”

Broker Zach Schabot, with Cary, N.C.–based Go Realty, says at the very least every practitioner must have a smartphone. One of the most common apps his agents use is Yammer, which he describes as “Twitter for companies.”

It gives everyone in the company a simple way to share information on a private platform.

www.sarasotarealtors.com

“I don’t see everyone every day, but I get 50 to 60 messages coming through Yammer,” he says. “It’s great for sharing resources. Someone will say, ‘I need a great HVAC guy and I need him quick.’”

Practitioners also use it to share good news, such as closed sales and new listings. Schabot also uses Skype to talk to both agents and clients, and is a big fan of LifeForms, an iPad app that allows you to complete and sign documents.

Out of Sight, Out of Mind?

Having the ability to run the office from anywhere doesn’t mean you never have to go to the office. “There were bro¬kerages that jumped on the virtual movement and realized they were losing agents because they weren’t providing enough value. The manager wasn’t handson,” says Jonathan Nicholas, a Winnetka, Ill.–based real estate consultant who specializes in technology solutions.

“Brokerages need to provide service.”

Hatzelis agrees, saying in-person time is especially important at a time when salespeople are struggling to close deals. She makes time every week to visit each of her offices, coaching agents and delivering information from continuing education courses she’s attended on hot topics such as short

Some tools are a necessity for running a brokerage remotely. For example, you must have a laptop and a high-quality multifunction printer.

But that’s just the beginning.

sales and foreclosures. “If you don’t deliver the knowledge your agents need, you’ll lose them all. They’re floundering.

I use all the technology, but it’s not going to replace me. I need to be there if they need me.”

Hicks still spends his winters in Phoenix, but he makes trips back to Wisconsin about once a month for meetings and events. He’s more relaxed about the arrangement now than when he first started. At first, he couldn’t stay away for more than a couple of weeks. “I had initial concerns: ‘Goodness, will they forget who I am? Will everything collapse without me around?’” he says. “That was a needless worry.”

Still, he feels it’s necessary to make in-person appearances regularly. “Otherwise, salespeople lose touch with who you are,” he says. “You still want to maintain a presence so people see a reason to associate with you. I don’t think it’s possible to do it entirely remotely.”

Sarasota Realtor® Magazine

OCTOBER 2011

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Technology is vital to WCR success Upcoming WCR Business Resource Meetings

By Cindi Jackson WCR President

Most Realtors® will tell you that real estate is a person-toperson business. Because of that, communicating effectively is essential to success. Technology is increasingly important to a Realtors®’s business.

The 2011 NAR Member Profile reflects the fact that nearly all Realtors® daily use email and desktop or laptop computers. In addition, three-quarters reported daily use of smartphones with wireless email and Internet capability – that is an increase from the 56% reported in 2009.

Most Realtors® are using other technologies such as instant messaging, global positioning systems (GPS), RSS feeds, and podcasts.

These technological advances have revolutionized the way in which real estate professionals communicate with their clients and other participants in the real estate transaction, as well the tools they use to market themselves and their services.

In today’s changing marketplace – with demanding customers and tough competition – you can’t do it alone. Not only do you need to be connected to the top professionals in the industry, but also to the cutting-edge training, real estate

information and wealth-building strategies that will build your business and secure your future.

When you join Women’s Council of Realtors®, you tap into powerful programs that yield tangible results for you and your business – as well as networking and referral opportunities at the national, state and local levels.

As a member, you can download the Women’s Council’s new mobile app, and you will be positioned to stay on top of your competition, whether it’s by learning about business-building resources in our monthly e-newsletter, free education tools, videos, staying up to date on industry trends, or by your visibility in our national Referral Center.

The Performance Management Network, the Women’s Council of Realtors® official Realtor® designation, provides the real-world skills that you need to face an evolving market. Designed by some of real estate’s best and brightest minds, our courses dig deep into the hot topics that are driving the market and shaping your business.

We invite you to join us, and get ready to access the kinds to timely, essential resources and networking opportunities that will help you stay on top and out front of the lightning-fast real estate market – we aren’t just one of the nation’s largest

Friday, Oct. 14th – Joni Herndon, Florida Real Estate Appraisal Board, University Park Golf and Country Club Friday, Nov. 4th - Business Planning, Caroline Griffith; Chapter Awards, Michael’s On East Thursday, Dec. 8th - Installation of 2012 Officers, Sarasota Yacht Club 11 a.m.-12 noon Business Networking 12 noon - 1 p.m. Business Resource Meeting - For Business Resource Meeting information contact Leslie Lauritano at leslie.lauritano@regions. com women’s professional organizations, we’re a powerful engine for the industry, one that helps drive our members’ careers to greater heights.

For membership information, please contact Mary Hellhake, VP of Membership, 941-544-0763 or MayHellhake@michaelsaunders. com.

2011 Line Officers Cindi Jackson President Exit Realty Signature Properties Cell: 941-735-0542 cindi_title@yahoo.com

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

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

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

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

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

mariannelebar@michaelsaunders.com 28

OCTOBER 2011

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Taking the stage at WCR Fashion Show

From left to right, Salvatore Scro, Peter Salefsky and Mike Rosario enjoy their moments on the runway at the 2011 WCR Fashion Show at The Ritz on Sept. 21. The event was once again a major success.

Twenty new joined SAR in September and attended the New Member Orientation.

Welcome aboard! www.sarasotarealtors.com

Sarasota Realtor速 Magazine

OCTOBER 2011

29

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Auciello, Philip: Back Bay Appraisal Company Bloom, Ira: Bloom Realty Charlesworth, Amanda: Charlesworth Realty Forbes, Steven: Exit King Realty Menke, Wendell: Sperry Van Ness Commercial Morris, Wendy: Wendy Morris Realty Sacco, Troy: Generous Property Shkrob, Eleonora: Malone Property Group LLC Volpe, Crystal: Midnight Cove Realty Inc Wilkes, Kathy: Kathy Wilkes, Lic R.E. Broker

New Members

Ask, James: Florida Home Team LLC Baty, Carrie: Nextage Lighthouse Realty Bentley, Annette: Michael Saunders & Company Brissette, Edith: Rossi & Company Inc. Caragiulo, LeeAnn: Keller Williams Lakewood Ranch Cieszkowski, Ed: Wendy Morris Realty Collings, Tony: Sandals Realty of Sarasota Collins, Anthony: J Wood Realty Crandall, Suzanne: Keller Williams Lakewood Ranch D’Amico, Elizabeth: Nextage Lighthouse Realty Eklund, Claudia: Allen Real Estate Services Inc. Ernst, Christine: Coldwell Banker Res R E Esposito, Valerie: Coldwell Banker Res R E Farmer, Barbara: Coldwell Banker Res R E Farrell, William: Ling Realty LLC Freed, David: Florida VIP Realty Inc. George, Scott: Michael Saunders & Company Grana, Jayci: Michael Saunders & Company Handley, Ron: RE/MAX Alliance Group Hayden, Lisa: Coldwell Banker Res R E Holley, Linda: ERA Waterside Realty Horne, Jennifer: Coldwell Banker Res R E Hoyle, Court: Beachy Properties Hunter, Ardath: Tarpon Coast Realty Inc. Johanning, Stacey: Sandals Realty of Sarasota Kircher, Phillip: Sandals Realty of Sarasota Lichterman, Brian: RE/MAX Alliance Group Lieberman, Martie: Coldwell Banker Res R E Malave, Andres: Keller Williams Lakewood Ranch Marr, Danny: Michael Saunders & Company Meister, James: Coldwell Banker Res R E Messeroux, Jean: Sandals Realty of Sarasota Parker, Gail: Rossi & Company Inc. Peitz, Ricky: Keller Williams Lakewood Ranch Rand, Ralph: Prudential Palms Realty Rossi, Henry: Rossi & Company Inc. Shaw, Brenda: Nextage Lighthouse Realty Shields, James: Coldwell Banker Res R E Shore, Kent: Coldwell Banker Res R E Silvers, David: RER International Somoza, Bernabe: LSI Properties Van Der Putten, Damien: Valencia Realty LLC Weigel, Blair: Sarasota Premier Properties Whitty, Denise: Signature Sothebys Internat’l

Now With ...

Appel, George: Coldwell Banker Res R E Ayers Jr, Albert: Coldwell Banker Res R E Baker, Denise: Atchley International Realty Barshinger, Katherine: Jennette Properties Inc. Beaty, Hoyt A R: Signature Sothebys Internat’l Benson, Marty: Signature Sothebys Internat’l Bentley, Annette: Michael Saunders & Company Berman, Bonnie: Mapp Realty & Investment Co Betres, Mark: Michael Saunders & Company Biggar, Cynthia: Beckmann Properties Bouverat, David: Michael Saunders & Company Bowers, Cynthia: Coldwell Banker Res R E Bowers, Michael: Coldwell Banker Res R E Bruno, Michael: Michael Saunders & Company Clevenger, Jerry: Coldwell Banker Res R E Cochrane, Michael A: Michael Saunders & Company Coker, Gary: Prudential Lakewood Ranch Rlty Collings, Tony: Sandals Realty of Sarasota 30

OCTOBER 2011

Collins, Wendy: RealtyOne Florida Davila, Rocio: Ascendia Real Estate DiCerbo, Tony: Michael Saunders-Heritage Oaks Duvall, Michael: RE/MAX Alliance Group Engel, Mia: J Wood Realty Falconer, Karen: Sandals Realty of Sarasota Farmer, Barbara: Coldwell Banker Res R E George, Scott: Michael Saunders & Company Gesell, Ellen: Coldwell Banker Res R E Goerdes, Frank: Coldwell Banker Res R E Granston, Michael: Prudential Palms Realty Hagman, Helmer: Dawn Cohen and Associates Harris, Stephen: Michael Saunders & Company Hayden, Lisa: Coldwell Banker Res R E Hoyle, Court: Beachy Properties Huber, Mark: Signature Sothebys Internat’l Huber, Joyce: Signature Sothebys Internat’l Huemoeller, Gayle: EXIT Creative Realty Huff, Janet: Coldwell Banker Res R E Huffer, Sandra: Market America Realty & Invest Hunter, Ardath: Tarpon Coast Realty Inc. Ipox, Kenneth: Signature Sothebys Internat’l Jacob, Arlette: Coldwell Banker Res R E Joseph, Perry: Sandals Realty of Sarasota Kaplan, Kristina: Keller Williams On The Water Keiger, Doloris: Sandals Realty of Sarasota Kraeft, Elizabeth: Coldwell Banker Res R E Laver, Sean: Tarpon Coast Realty Inc. Lempel-Husak, Lesley: Atchley International Realty Lennox, Esther: Rosebay Properties, Inc. Lichterman, Brian: RE/MAX Alliance Group Lieberman, Martie: Coldwell Banker Res R E Long, Francis: Florida Sun Realty Corp Makowski, Bryan: Sandals Realty of Sarasota Maleckas, Marilyn: Meadows Real Estate Services March, Carl: Coldwell Banker Res R E Marrero, M Christina: LSI Properties McGayhey, Donald: Keller Williams Lakewood Ranch McNally, Shirley: Michael Saunders-Heritage Oaks Mervenne, Joseph: Michael Saunders-Heritage Oaks Messeroux, Jean: Sandals Realty of Sarasota Miante, Marie: Atchley International Realty Middleton, Jacqueline: Coldwell Banker Res R E Miller, Susan: Coldwell Banker Res R E Mills, John: Hook & Ladder Realty Inc. Minton, Mark: Suncoast Premier Realty Serv Mitchell, Arlene: Michael Saunders-Heritage Oaks Moffatt, Robert: Michael Saunders & Company Mondello, Susan: Michael Saunders & Company Moore, Debra: Coldwell Banker Res R E Morgan, Aki: Coldwell Banker Res R E Musto, Michelle: Coldwell Banker Res R E Page, Daniel: Michael Saunders & Company Page, Linda: Michael Saunders & Company Page, Linda A.: Michael Saunders & Company Parker, Gladys: Cristello and Co Real Estate Perkins, Thomas: Signature Sothebys Internat’l Power, Felix: Michael Saunders & Company Rappaport, Gregg: EXP Realty LLC Ratwani, Danielle: RE/MAX Alliance Group Renick, Michael: Mangrove Realty Associates Romano, John: J Wood Realty Saetre, Vidar: Michael Saunders & Company Sax, Teri Ann: Signature Sothebys Internat’l Seto, Steven: Coldwell Banker Sherman, Robert: Signature Sothebys Internat’l Sleit, Ziad: Signature Sothebys Internat’l Smith, John: Michael Saunders & Company Standish, Barbara: Coldwell Banker Res R E Teoh, Eric: Mangrove Realty Associates Travers, William: Prestige Realty Alliance LLC Van Der Putten, Damien: Valencia Realty LLC Voss, Sandra: Coldwell Banker Res R E Weigel, Blair: Sarasota Premier Properties Wellman, Peggy: Michael Saunders & Company Wetzig, Christopher: Michael Saunders & Company Wolk, Barry: Sandals Realty of Sarasota

Sarasota Realtor® Magazine

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New Affiliates

Baron Construction P.O. Box 20368 Sarasota, FL 34276 Phone: 941-922-7445; Representative: Jaclyn Ohman Specialty: Baron Construction is a general contractor specializing in custom new homes, remodels, commercial and restoration. If you’re seeking a master home builder that combines innovation, reputation, classic craftsmanship, premium materials and healthy house building techniques, contact Baron Construction to schedule a consultation Email: jaclyn@baronconstruction.com Carrington Mortgage Services 4511 N. Himes Avenue Ste 200 Tampa, FL 33614 Phone: 813-449-4425; Representative: Fred Elfein Specialty: You’ve come to the right place for a great loan. We strive to meet each borrower’s specific needs with a variety of loan programs one that is just right for you!

Email: fred.elflein@Carringtonms.com Cornerstone Lending Group 3800 S. Tamiami Trail Ste 208 Sarasota, FL 34239 Phone: 941-927-5551; Representative: Thomas DeBrosse Specialty: Since 2002, Cornerstone Lending Group has provided lending services to thousands of customers. We specialize in helping our client’s purchase, refinance or build a home. We are committed to offering a variety of flexible lending options with the best available interest rate, at the lowest possible cost.

Email: tomdebrosse@aol.com CTC Lending Affiliate PNC Bank 2000 Webber Street Sarasota, FL 34239 Phone: 866-837-8119; Representative: Brad Benson Specialty: At CTC Lending we are committed to providing you the highest quality service in the industry. Whether you are buying a home or refinancing your current mortgage our team of home loan professionals will help you every step of the way. We our an affiliated business of PNC Bank N.A. We have Loan Officers in Sarasota, Manatee and Charlotte Counties Email: brad.benson@ctclending.com Fifth Third Bank 50 Central Avenue Sarasota, FL 34236 Phone: 941-320-7390; Representative: George Adley Specialty: For over 150 years, Fifth Third full service Bank has been providing quality financial products and services to its customers.

The Bank has received numerous accolades for the way it operates over 1,300 locations. At Fifth Third, we work hard to be a successful, principled, involved financial institution that serves its customers and community.

Email: george.adley@53.com GreenPoint Construction Svc P.O. Box 1412 Tallevast, FL 34270 Phone: 941-232-3608; Representative: Kevin Lovley Specialty: All property related services: construction, remodeling, mold remediation, inspections, lead based paint testing, renovations, and preservations. No job too big or small. If it has to do with Real Estate-we’ll do it for you or your firm!

Email: kevin@greenpointconstruction.com GrimeFighters Inc 1582 Global Court Sarasota, FL 34240 Phone: 941-922-1615; Representative: Sherry Lasser Specialty: Grimefighters offers Sarasota and Bradenton the very best restoration services including emergency water removal, structural dry down, mold remediation, fire, smoke damage clean up, and carpet/ floor cleaning. Our highly trained customer service representatives and technicians are experts at cleaning upholstery, carpet, tile and grout, all floor types and even oriental rugs.

Email: sherryL@grimefightersinc.com The Groutsmith 395 Interstate Blvd.

Sarasota, FL 34240 Phone: 941-924-4433; Representative: Jonathan Smith www.sarasotarealtors.com

Specialty: Our Mission: To provide the highest quality of tile and grout cleaning, restoration and repair; to enable homeowners and business owners to enjoy and appreciate the beauty and functionality of their tile and grout surfaces. We use Groutsmith™ Professional Products to Restore Floors, Showers, Countertops, Walls and Fireplaces. We do not use High Pressure Steam, Pressurized Water, Harsh Acids or Carpet Cleaning Equipment (all of which can damage grout and tile).

Email: Jonathan@groutsmith.com Kristin Raybon Designs 840 Edgemere Lane Sarasota, FL 34242 Phone: 941-927-3522; Representative: Kristin Raybon Specialty: I take pride in giving each client a unique and personal design experience. The end result is a gorgeous interior that is not only complimentary to my client’s lifestyle, but also reflects each individual taste and personality. I am dedicated to giving my clients the best possible interiors for their homes. I specialize in residential décor, kitchen & bathroom design, window treatments, space planning, accessorizing, built-ins, furniture selection and flooring.

Email: kristinraybon@aol.com Michael J Belle, P.A. 2364 Fruitville Road Sarasota, FL 34237 Phone: 941-955-9212; Representative: Michael Belle Specialty: The Law office of Michael J. Belle, P.A. has been serving clients throughout Florida since 1990. The firms’ areas of practice includes business and commercial law, real estate, real estate closings, title insurance, timeshare resort and association representation.

Email: MichaelB@MichaelBelle.com Randy Cowart Photography 10264 Silverado Circle Lakewood Ranch, FL 34202 Phone: 941-224-5240; Representative: Randy Cowart Specialty: Randy Cowart Photography prides itself in providing our clients with the best possible products and services. We are a professional photography company specializing in high quality architectural and real estate images. Exceptional image resolution of interior and exterior of property. The use of HDR and conventional image exposure produces outstanding images.

Email: rhcphoto@gmail.com Sam’s Club 300 N. Cattlemen Road Sarasota, FL 34232 Phone: 941-341-9526; Representative: Joanne Tarton Specialty: At Sam’s Club, our focus is on giving you more value for your Membership. Your Membership gives you services and savings to simplify your life, home, and business. Quality, name-brand merchandise at exceptional prices. Our nearly 600 locations are not only terrific places to save money, but also destinations for solutions that can help ease a busy schedule. Realtor Association Incentives!

Email: jacton.S04772.us@samsclub.com Sarasota Finishes 1947 Magnolia Street Sarasota, FL 34239 Phone: 941-302-0991; Representative: Warren Miller Specialty: At Sarasota Finishes we’ve used our talents, training and experience to provide high quality property services for homes and businesses, including custom painting interior/exterior and staining, expert pressure-washing, color consulting, professional staging and redesign services, and more.

Email: warren@sarasotafinishes.com United Van Lines/Mayflower Transit Address: 1590 East Avenue North Sarasota, FL 34230 Phone: 941-780-2206; Representative: Beth Vandroff Specialty: Five Generations of Moving Services! Yarnall Warehouse, Inc. is a full service moving and Storage Company located in Sarasota, Florida. Yarnall is an agent for United Van Lines and Mayflower Transit, two of the most trusted names in transportation. With almost 100 years of experience. A trusted and reliable mover that provides local, long distance and international moving and a full service air conditioned facility providing storage for residential and commercial needs.

Email: bvandroff@aol.com

Sarasota Realtor® Magazine

OCTOBER 2011

31

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

OCTOBER 2011 E DUCATION & E VENTS C ALENDAR Monday 3

Tuesday

Wednesday 5

4

9 a.m.

Basic MLXchange 1:30 p.m.

Entering & Updating

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

CMA

Thursday 6

8 a.m.

Power Marketing (University Park CC)

18 16 14 12 10 8 6 4 2 0

Friday 7

9 a.m.

CID Commercial Marketplace

250 200 150

9 a.m.

New Member Orientation 1 p.m.

Code of Ethics

11

8:30 SRES Designation Course

12

7:30 a.m.

Toastmasters 8:30 SRES Designation Course

13

8 a.m.

Power Marketing (SAR) 9 a.m.

MLX Advanced 1:30 p.m.

Design Web Page

19

7:30 a.m.

Toastmasters

8 a.m.

Power Marketing (SAR)

24

25

26

27

8 a.m.

Power Marketing (SAR)

8:30 a.m.

Tech Expo SCTI 9 a.m.

CID Commercial Marketplace

31

Nov. 1

2

3

4

12 p.m.

CID Golf Tournament, TPC Stadium Course

12 p.m.

RAJC Seminar: Emerging Issues in Tax Part 2 5 p.m.

Joint GRAS/USGBC Panel 9 a.m.

CMA 1:30 p.m. iMapp

8 a.m.

Power Marketing (University Park CC)

21

9 a.m. CID Commercial Marketplace (offsite) 5 p.m.

Changing of the Seasons Affiliate Gala/Open House (Saturday, Oct. 22 Make A Difference Day)

28

9 a.m.

CID Commercial Marketplace

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

My Florida Regional MLS Training

50 0

18

8:30 a.m.

CID General Membership

100

9 a.m.

CID Commercial Marketplace (offsite)

17

9 a.m.

Basic MLXchange 1:30 p.m.

Entering & Updating

20

14

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速, Inc. 3590 S. Tuttle Ave. Sarasota, FL 34239

10

18 16 14 12 10 8 6 4 2 0 Aug‐10

Sep‐10

Oct‐10

Nov‐10 Dec‐10

Jan‐11

Single Family Condo

Feb‐11 Mar‐11 Apr‐11 May‐11 Jun‐11

Days on Market 250

Jul‐11

Aug‐11

Single Family Condo

200 150 100 50 0 Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

New Listings

Apr‐11 May‐11

Jun‐11

Jul‐11

Aug‐11

Single Family Condo

900 800 700 600 500 400 300 200 100 0 Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11 Mar‐11

Sales Volume $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

Apr‐11 May‐11 Jun‐11

Jul‐11

Aug‐11

Single Family Condo

Sarasota Association of Realtors® MLS

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

Jul‐11 Aug‐11

The Xtra Pages - Digital Version Only

Months of Inventory

Second Quarter 2011 Report Single Family Sales ‐ By Quarter

REO

Short

Arm's Length

1200 1000 800 600 400 200 0 2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

* Homebuyer Tax Credit In Effect

Condo Sales ‐ By Quarter

2010‐Q4

REO

2011‐Q1

Short

2011‐Q2

Arm's Length

600 500 400 300 200 100 0 2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

* Homebuyer Tax Credit In Effect

Single Family Median Sale Price

REO

2010‐Q4

Short

2011‐Q1

2011‐Q2

Arm's Length

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2008‐4thQ

2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

2010‐Q1

2010‐Q2

Condo Median Sale Price

2010‐Q3

REO

2010‐Q4

Short

2011‐Q1

2011‐Q2

Arm's Length

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

Source: Sarasota Association of Realtors®

$100,000 $50,000 $0 2008‐4thQ

2009‐1stQ

2009‐2ndQ

2009‐3rdQ

2009‐4thQ

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

Single Family Condo

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

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

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0 2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

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

Arm's Length Sales ‐ By Quarter

2011‐Q1

2011‐Q2

Single Family Condo

1200 1000 800 600 400 200 0 2008‐Q4

2009‐Q1

2009‐Q2

2009‐Q3

2009‐Q4

2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

* Homebuyer Tax Credit In Effect

Source: Sarasota Association of Realtors®

Annual Sales ‐ 2000 to 2010 Single Family Single Family

Condo

Total

11267 10562 9697 8167 7603

7,596 7036

6533

6,841

6 504 6,504

6358

5,603

6739 6042

5,183

4,940 4,353

4,349 3,193 2,184

3 721 3,721

3 671 3,671

2,564

2,096

5820

2,005

4,626 3,922 ,

2,137

2,120 1,194

2000

2001

2002

2003

2004

2005

2006

5,466

2007

2008

1,556

2009

2010

Annual Median Sale Price ‐ 2000 to 2010 Condo

Single Family

$351,000

$342,000

$272,500 $305,000

$226,000 $172,500

$132,300

2000

$303,000

$210,000 $163,000

$230,000

$191,000

$142,000

$320,000

$301,225

$225,000

$191,000

$336,250

$173,000 $160,000

$145,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$163,000

2010