Sarasota Realtor Magazine - September 2010

SEPTEMBER 2010

Page 6

Nominate SAR members for Realtor速 Awards. See Page 5

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Contents

Sarasota Realtor® Magazine Volume 7, Issue 9 SEPTEMBER 2010

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

6

Stay Safe

The real estate profession offers both rewards and risks

for practitioners, but you can minimize the risks

by following a few simple guidelines and rules.

10 Amendments Explained

Voters face several important decisions this November, and we provide our members with the pertinent background on the amendments coming up on the Nov. 2 ballot.

12 Adverse Possession

There are legitimate uses for such actions, but occasionally there have been abuses. Learn about this interesting aspect of property law.

Volume 7 • Issue 9 •SEPTEMBER 2010 4

The July 2010 sales statistics dropped from their

highs with the end of the federal homebuyer tax credits.

Immediate Past President William Geller RE/MAX Platinum Realty

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.

Director of Member Services Dan Andrews Director of MLS Information Systems Jesse Sunday

Governmental Affairs Director Marc Mansfield

10- Governmental Affairs

Production Coastal Printing, Inc.

12- Property Appraiser

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

15- Sales and Listing Statistics 18- Commercial Investment Division Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24-25!

28- WCR News 30- Membership News

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

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

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

2010 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

32- Calendar of Events/Education

SEPTEMBER 2010

Treasurer Laura Benson Michael Saunders & Company

Director of Professional Development Catherine McCaskill

In every issue

27- Broker Corner

Secretary Roger Piro Town & Country Realty

Director of Communications Ray Porter

Don’t forget the big Sarasota International Real Estate Congress slated for Sept. 22-23 at the Hyatt Regency Sarasota!

24- On the SAR Scene

President-Elect Michael Bruno Prudential Palms Realty

Editorial Staff

31 Congress is Coming

20- Education Programs

President Erick Shumway RE/MAX Alliance Group

Chief Executive Officer Kathy Roberts

15 Market Dips

2010 Officers

Sarasota Realtor® Magazine

www.sarasotarealtors.com

SAR Annual Meeting slated Sept. 17th

The Sarasota Association of Realtors® will hold the Annual Membership Meeting on Friday, Sept. 17th at noon at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Street, Sarasota.

Lunch and networking will begin at noon. Call to Order for the business portion of the meeting is 12:20 p.m.

The annual SAR business meeting will include the election of SAR’s 2011 Officers and Directors and approval of Bylaws amendments, followed by committee reports.

The luncheon cost is $13.50, and you must register online prior to Sept. 14th. All SAR members are invited and encouraged to attend. A quorum of 50 Realtors® is required.

Jim Ingram: SAR Affiliate of the Month for September The September 2010 SAR Affiliate of the Month is Jim Ingram of Boyd Insurance and Investment Services.

Jim Ingram grew up here, and is a fourth generation Manatee/ Sarasota County resident. He graduated with a degree in Risk Management and Insurance from Florida State University and has been practicing insurance since 1977.

He has been an employee, partner, and owner of various agencies over the years.

Jim currently works for Boyd Insurance and Investment Services in Bradenton and considers both Sarasota and Manatee County his market place.

Jim spent 20 years in commercial lines insurance before making the switch to personal lines. Currently he spends most of his time insuring homes and autos as well as providing service to his existing client base.

He shares the same goal as the Boyd Agency, and that’s to give friendly professional advice to both his prospects and customers. The agency represents a variety of home and auto markets so it’s rare when they cannot produce the winning product for the person looking for home or auto insurance.

For more information, please visit www. boydinsurance.com or call Jim at the agency at 941.745.8300.

Jim Ingram

SAR seeks nominees for annual awards It is that time of year again time to honor the volunteers who give so much to our Association and to the community.

The SAR Nominating Committee is again seeking nominations for our three service awards. Nominations may be submitted by any member, nominating another member, or nominating themselves. Nomination forms are available on our website at www.sarasotarealtors.com/ awards, or e-mail peggy@ sarasotarealtors.com or call 328-1169 to request a form. All forms must be received by Oct. 1, 2010.

Realtor® of the Year Award This award is based on the member’s lifetime contributions to the Realtor® organizations, service in the community and business accomplishments. Although total contributions may be considered, activities over the past three years will receive priority consideration.

Humanitarian Award The recipient of this award is honored for a significant contribution as a volunteer for an organization or project in the community.

Meritorious Service Award The Realtor® selected for this honor is one whose service to the Sarasota Association of Realtors® and his/her fellow Realtors® has been of such effectiveness and quality so as to deserve special recognition. The member’s service must be both consistent and valuable, and their dedication to personal professional development must be both consistent and of high quality. The member must be held in high esteem by his/her fellow Realtors®.

Don’t forget - nomination forms must be submitted by Friday, Oct. 1, 2010!

Cover Story 6

Stay Safe

The real estate profession can be rewarding, but also risky Editor’s note: Throughout the month of September, we will provide Realtor® safety articles in our Weekly Update.

We’ve also posted extensive information on the Sarasota Association of Realtors® web site under Hot Topics. The articles in this issue were provided by the National Association of Realtors®, and are intended to inform our membership.

r

Risk is part of the everyday life of a real estate professional. But there are some valuable tips you can learn and precautions you can take to reduce the risk substantially, and make your life safer.

Knowledge. Awareness. Empowerment. These are the core components of Realtor® Safety. And helping our members understand the risks they face can mean the difference between life and death.

As part of SAR’s and NAR’s ongoing efforts to keep our members safe, we dedicate one week each September to kick off safety efforts. But this is just the start of our commitment to empowering our members.

Realtors® should be reminded of the dangers they face every day. They must stay aware of their surroundings, and become empowered with precautions and preparations so they can avoid risky situations. To this end, NAR has developed an online Realtor® Safety Resources Kit and has planned a variety of refreshers throughout the year, including: • New webinars on Realtor® Safety, presented by industry experts.

• Quarterly safety messages focusing on seasonal tips for on the job and at home, sent by NAR to local Associations and brokers to share with members.

• Expansion of client safety materials and resources Every day, Realtors® across the nation put themselves in positions where they can be victims of dangerous crimes. Whether it’s putting up signs along the highway or showing a house to a prospective buyer, their personal safety is often at stake. Yet, most Realtors® don’t think about the potential dangers until it’s too late.

Empowering Realtors® to recognize risks and protect themselves — both on the job and off — can make the difference between life and death. We must work together to keep our members safe and successful.

Inattention is one of the main reasons people find

SEPTEMBER 2010

themselves in dangerous situations. Take a few precious seconds during the course of your day to assess your surroundings.

Take 2 Seconds when you arrive at your destination.

• Is there any questionable activity in the area?

• Are you parked in a well-lit, visible location?

• Can you be blocked in the driveway by a prospect’s vehicle?

Take 2 Seconds after you step out of your car.

• Are there suspicious people around?

• Do you know exactly where you’re going?

Take 2 Seconds as you walk towards your destination.

• Are people coming and going or is the area unusually quiet?

• Do you observe any obstacles or hiding places in the parking lot or along the street?

• Is anyone loitering in the area?

Take 2 Seconds at the door.

• Do you have an uneasy feeling as you’re walking in?

• Is someone following you in?

Take 2 Seconds as soon as you enter your destination.

• Does anything seem out of place?

• Is anyone present who shouldn’t be there or who isn’t expected?

10 Seconds TOTAL! Taking in your surroundings lets you spot and avoid danger. Make it a habit. Then share it with someone else.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Protect your identity with proper precautions Identity theft is a serious and costly crime. People whose identities have been stolen can spend months or years cleaning up the mess thieves have made of their good name and credit record.

In the meantime, victims may lose job opportunities, be refused loans, housing or cars, or even get arrested for crimes they didn’t commit.

The following tips can help you lower your risk of becoming a victim.

1. Protect your accounts against fraud.

Contact the fraud department of any of the three consumer reporting companies— Equifax®, ExperianSM and Trans Union®— to place a fraud alert on your credit report. The fraud alert automatically lets credit card companies and other creditors know they must contact you before opening any new accounts or making any changes to your existing accounts.

2. Don’t get caught by “phishing.”

Scam artists “phish” for victims’ information by posing as representatives of banks, stores or government agencies. This is done over the phone, through regular mail, and especially via e-mail. Don’t respond to a request to verify your account number or password. Don’t give out your personal information unless you made the contact. Legitimate companies will not request this kind of information in this way.

3. Keep your identity from getting trashed.

Invest in a paper shredder and shred all papers with personal information before you throw them away, including unwanted credit card applications and “convenience checks” that come in the mail, credit card receipts with your account number, outdated financial papers and papers containing your clients’ personal information.

4. Control your personal financial information.

Many states have laws requiring banks and other financial institutions to get your permission before sharing your personal financial information with outside companies. You also have the right to limit the sharing of your personal financial information with most of your companies’ affiliates. Write to your companies that you want to “opt-out” of sharing your personal financial information with their affiliates.

5. Shield your computer from viruses and spies.

Use passwords with at least eight characters, including a combination of letters, numbers, and symbols. Use firewall and virus protection software and update it regularly. Download free software only from sites you know and trust, and don’t install software without knowing what it is. Set browser security to at least “medium.” Don’t click on links in pop-up windows or in spam e-mail, and don’t download any file from an e-mail address you don’t know.

6. Click with caution When shopping online, check out a Web site before entering Continued on P. 9, See IDENTITY

KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy

Call 941-366-1300 For A

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

Riddell Law Group R L G

3400 S. Tamiami Trail, Sarasota, Florida www.toomuchdebtsarasota.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.

10 tips for holding a safe open house

Open houses can be a great sales tool—but hosting one also exposes you to numerous unfamiliar people for the first time.

Take these steps to stay safe: 1. If possible, always try to have at least one other person working with you at the open house.

2. Check your cell phone’s strength and signal prior to the open house. Have emergency numbers programmed on speed dial.

3. Upon entering a house for the first time, check all rooms and determine several “escape” routes. Make sure all deadbolt locks are unlocked to facilitate a faster escape.

4. Make sure that if you were to escape by the back door, you could escape from the backyard. Frequently, high fences surround yards that contain swimming pools or hot tubs.

5. Have all open house visitors sign in. Ask for full name, address, phone number and e-mail.

6. When showing the house, always walk behind the prospect. Direct them; don’t lead them. Say, for example,

“The kitchen is on your left,” and gesture for them to go ahead of you.

7. Avoid attics, basements, and getting trapped in small rooms.

8. Notify someone in your office, your answering service, a friend or a relative that you will be calling in every hour on the hour. And if you don’t call, they are to call you.

9. Inform a neighbor that you will be showing the house and ask if he or she would keep an eye and ear open for anything out of the ordinary.

10. Don’t assume that everyone has left the premises at the end of an open house. Check all of the rooms and the backyard prior to locking the doors. Be prepared to defend yourself, if necessary.

(Sources: Washington Real Estate Safety Council; City of Mesa, Arizona; Nevada County Board of Realtors®, Georgia Real Estate Commission)

Don’t become a target for harassment

Real estate professionals have been victims of harassment or stalking behavior from clients and potential clients.

Harassment occurs when a person subjects another to alarm by conveying a telephonic or written threat to inflict serious physical injury on that person or to commit a felony involving that person or their property.

Stalking is when a person knowingly alarms or coerces another person or a member of that person’s family or household by engaging in REPEATED and UNWANTED contact with the other person.

Take these steps to avoid these unwanted behaviors: • If you are being harassed or stalked, report the offender to your employer and the police immediately.

• All of your marketing materials should be polished and professional.

Don’t use alluring or provocative photography in advertising, on the Web or on your business cards.

There are many documented cases of criminals actually circling photographs of their would-be victims in newspaper advertisements. These victims were targeted because of their appearance in 8

SEPTEMBER 2010

the photograph.

• Limit the amount of personal information you share. Consider advertising without using your photograph, home phone number and/ or home address in the newspaper or on business cards. Don’t use your full name with middle name or initial. Use your office address—or list no address at all. Giving out too much of the wrong information can make you a target.

• Install caller I.D. on your telephone, which should automatically reject calls from numbers that have been blocked. This will provide you with immediate information about the source of the call.

• Be careful how much personal Sarasota Realtor® Magazine

information you give verbally as well.

Getting to know your client does not need to include personal information about your children, where you live and who you live with.

• All agents in your office should use only their first initial and last name on their “For Sale” signs to conceal gender and prevent anyone other than a personal acquaintance or current client asking for you by name.

• Meet weekly or monthly with co-workers and other area brokers to discuss business and safety issues.

Share any concerns! If you are dealing with a suspicious customer, take extra precautions to avoid isolation or vulnerability. Discontinue your services for that customer if necessary.

• Maintain a file on past and present suspicious customers and homes.

• Report harassing phone calls to your employer and to the police immediately.

• It’s important to tell the caller “never call here again,” in order to meet the letter of the law regarding telephonic harassment.

(Sources: Washington Real Estate Safety Council; Louisiana Realtors® Association; City of Mesa, AZ) www.sarasotarealtors.com

Fight or flight? Consider best response

If you were to find yourself alone in a property with a client who indicated they wanted to harm you or rob you, what would you do? Would you put up a fight or try to escape?

Remember, your primary goal in any incident is to escape from the danger and call for help.

When faced with menacing behavior, you should first try to find a discreet way of removing yourself from the situation.

Try to avoid triggering the emotion a predator might use to justify an attack.

For example, you can say that you need to step outside to make a phone call and then don’t come back inside.

If an attack does occur, trust yourself and stay as calm as possible. There is no single right way to respond to a confrontation, because each situation is different. Your response should depend on the circumstances: the location of the attack, your personal resources, the

characteristics of your assailant and the presence of weapons.

No resistance: Not resisting can be the proper choice in a given situation.

An attacker with a gun or a knife may put you in a situation where you think it is safer to do what he or she says. If someone tries to rob you, give up your property, not your life.

Stalling for time: Appear to go along with the attacker. This might give you time to assess the situation. When his guard is down, try to escape.

Distraction and then flight: Obviously you should try to get away, but whether you can depends on many things, including your shoes and clothing, physical stamina, the terrain and your proximity to your attacker.

Verbal assertiveness: If someone is coming toward you, hold out your hands in front of you and yell “Stop!” or “Stay back!” Criminals have been

known to leave a victim alone if he or she yelled or showed that he or she was not afraid to fight back.

Physical resistance: If you decide to respond physically, remember that your first response should be to flee the area or the home. Act quickly and decisively to throw the attacker off guard while you get away. Your personal safety is your first priority. Property can be replaced, but the value of your life and health is beyond measure. Also, you should familiarize yourself with your state’s laws concerning self-defense.

Observation: Be sure to make an effort to get an accurate description of your attacker. Even the smallest details may give authorities a clue to finding the suspect.

(Sources: Washington Real Estate Safety Council) - Visit NAR’s Realtor® Safety Web site at www.REALTOR. org/Safety

SAR Realtor® Store offers safety items

The SAR Realtor® Store is now offering various safety items for sale.

Just visit the store at 3590 S. Tuttle Ave., Sarasota, and ask Jackie Deemer about the latest store offerings.

One of the items is a personal stun gun, which resembles a smart phone or MP3 player in size and shape (see

photo at right), but packs an electrical jolt that will disable most attackers in an instant. Also available is a very loud whistle, which can be used to distract and disorient an attacker, plus alert nearby good citizens of your distress.

Safety is everyone’s business, so please be alert and watchful!

IDENTITY From Page 6

your credit card number or other personal information.

Enter personal information only on secure Web pages with “https” in the address bar and a closed padlock symbol at the bottom of the browser window.

7. Check your bills and bank statements.

Open your credit card bills and bank statements right away. Check for any unauthorized charges or withdrawals and report them immediately. Call if bills don’t arrive on time. It may mean that someone has changed contact information to hide fraudulent charges.

8. Stop pre-approved credit offers.

Stop most pre-approved credit card offers by calling tollfree 888-5OPTOUT (888-567-8688) to have your name

www.sarasotarealtors.com

removed from credit bureau marketing lists.

9. Ask questions.

Ask questions whenever you are asked for personal information that seems inappropriate. Ask how the information will be used and if it will be shared. Ask how it will be protected.

10. Check your credit reports — for free.

One of the best ways to protect yourself from identity theft is to monitor your credit history. You can get one free credit report every year from each of the three national credit bureaus. Order your free annual credit reports by phone, toll-free, at 877-322-8228, or online at www. annualcreditreport.com.

(Sources: The Federal Trade Commission, The Office of Privacy Protection in the California Department of Consumer Affairs)

Sarasota Realtor® Magazine

SEPTEMBER 2010

9

Governmental Affairs 10

Constitutional amendments facing challenges as November election nears

f

By Marc Mansfield Governmental Affairs Director

Florida voters will have a number of Constitutional Amendments to review on Nov. 2, 2010. While we know for certain there will amendments on the ballot, as of the writing of this column we simply don’t know how many will be left to voters on Election Day. Nine (9) Constitutional Amendments were originally slated to be placed on the November ballot. Successful legal challenges have removed three of the proposed amendments and several other proposed amendments are facing continued legal challenges. There will also be one non-binding Referendum on the ballot asking if voters support requiring the Federal Government to have a balanced budget without raising taxes.

Amendment #1 : Repeal of Public Campaign Financing Requirement – Sponsor The Florida Legislature.

In 1987, the Florida Legislature established public financing for statewide campaigns, arguing that it was becoming too expensive to run for public office and that the high costs were preventing some candidates from running for elected office. In 2010, the Legislature voted to place this constitutional amendment on the ballot that asks voters whether they want to end the public financing system. A YES vote would repeal the public financing system. A NO vote would allow the current system to continue beyond the 2010 elections.

Amendment #2: Homestead AD Valorem Tax Credit for Deployed Military Personnel –Sponsor The Florida Legislature.

Amendment 2 would require the Legislature to provide an additional homestead property tax exemption by law for members of the United States military or military reserves, the United States Coast Guard or its reserves, or the Florida National Guard who receive a homestead exemption and were deployed in the previous year on active duty outside the continental United States, Alaska, or Hawaii in support of military operations designated by the Legislature.

The exempt amount will be based upon the number of days in the previous calendar year that the person was deployed. The amendment is scheduled to take effect Jan. 1, 2011.

Amendment #3: Property Tax Limit for NonHomestead Property, Additional Homestead Exemption for New Homestead Owners – SponsorThe Florida Legislature.

Amendment 3 would have provided owners of property that does not qualify for a homestead

SEPTEMBER 2010

exemption to see a tax break. The assessed value of such “non-homestead” property could not have increased more than 5 percent a year. It would have also provided an additional $25,000 homestead exemption for property taxpayers who haven’t owned a principal residence over the past eight year. Amendment 3 has been removed from the November ballot, subject to a Supreme Court appeal.

Amendment #4: Referenda Required for Adoption and Amendment of Local Government Comprehensive Land Use Plans – Sponsor – Florida Hometown Democracy, Inc. PAC This proposed amendment to the Florida Constitution (also known as the Vote on Everything Amendment) would require voter approval of development proposals that conflict with already established local growthmanagement plans. Currently, these types of changes are approved by locally elected officials. Amendment 4 is opposed by the Florida Realtors® and the Sarasota Association of Realtors®.

Amendment #5: Standards for Legislature to Follow in Legislative Redistricting – Sponsor Fair Districts Florida.org Redistricting is the act of re-dividing the state into new election districts. By law, it happens every 10 years.

Amendment 5 would require legislative districts not be drawn to favor one political party over another or deny minority’s equal opportunity to participate in the political process. Those that support this amendment say both Democrat and Republicans have traditionally drawn district boundaries to give themselves political advantage. Those that oppose this amendment say it would reduce minority representation, be difficult to implement and open the door to multiple lawsuits.

Amendment #6: Standards for Legislature to Follow in Legislative and Congressional Redistricting – Sponsor-Fair Districts Florida.org.

Amendment 6 would require that congressional districts not be drawn to favor one political party over another or deny minority’s equal opportunity to participate in the political process. Those that Continued on P. 31, See AMENDMENTS

Important dates to remember:

General Election Day: Nov. 2, 2010 – Last day to register to vote: Oct. 4, 2010.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

www.sarasotarealtors.com

Sarasota Realtor速 Magazine

SEPTEMBER 2010

11

Property Appraiser

Adverse Possession

a

For more information, contact the Property Appraiser’s office at 941.861.8200.

12

ADVERSE POSSESSION: Legitimate use or just abuse?

Legitimate use, or just abuse? That depends As originally crafted, adverse possession serves an important social

By Bill Furst, GRI, CRS, CRB claimant’s property. Three claims function. Adverse possession provides a means for people to acquire were in 2007 onand vacant Sarasota County abandoned property if they were willing to filed improve, live on pay parcels.

Property Appraiser However, in 2010, the symptoms of taxes on the property. The possession has to be open, continuous for a

As statutory originally crafted, adverse period of time, (seven yearsquestionable in Florida), andclaims adversebegan to theshowing possession serves an important social owner’s interest. Historically, use of adverse forclaims grazingso far, up here.possession We havewas three function.

Adverse possession provides and crop lands, and abandoned structures in urban areas.

Governments all on properties that were purchased a means people to acquire look onfor adverse possession as a way to encourage the highest and best at the height of the boom and are abandoned property they were use of the propertyif– creating the greatest taxable value. willing to improve, live on and pay now in foreclosure. The banks will taxes on property.escalation The possession probably take ownership long before Thethe snowballing of abuse of this centuries-old legal concept has tohas,beupopen, continuous for a the statutory period is until now, been lost in the clamor of mortgage fraud of andpossession flipper statutory period of time, (seven years exposés. Not anymore! These adverseover. possession scammers are claiming in Florida), and adverse to the owner’s properties abandoned and in foreclosure, and renting them out to Florida law requires that adverse interest.

Historically, use of adverse unsuspecting tenants. possession was for grazing and crop possession claimants file a claim with lands,In some and counties abandoned structures the property appraiser’s this has reached epidemic proportions.

The Ft.office of the in urban areas.

Governments look county in which is located, Lauderdale Sun Sentinel reports that Broward and Palm property Beach counties on adverse possession as a way to have had around 200 adverse possession claims filed in recent months. encourage the highest and best use of within one year after entering the Three people, who filed over 100 claims, have been arrested so far. Pasco the property – creating the greatest property. Subsequently the claimant County reports over 600 adverse possession claims filed, mostly on must pay taxes and other assessments taxable value. abandoned vacant land sold years ago, sight unseen, to out of state the property for seven consecutive Theinvestors snowballing ofOneonperson who haveescalation walked away. has been arrested by the years and file Suit to Quiet Title to abusePasco of this centuries-old legal County Sheriff’s office for scheming to defraud, claiming 72 vacant concept has, up until now, been obtain to the property. The properties, changing the locks and renting outclear 31 oftitle them. lost in the clamor of mortgage fraud law does not require notification of and flipper exposés.

Not In Sarasota County, this anymore! office has only seven adverseowner possession claims. the property when a claim TheseOne, adverse possession from 2002, is on ascammers narrow strip of land abutting the claimant’s is filed but does not preclude the are claiming property. properties Three claimsabandoned were filed in 2007 on vacant parcels. However, in property appraiser’s office from and in2010, foreclosure, and renting them claims the symptoms of questionable began showing up here. We out tohave unsuspecting tenants. doing so. three claims so far, all on properties that were purchased at the In some thisand hasare reached heightcounties of the boom now in foreclosure. will probably In the The spiritbanks of full disclosure of epidemic proportions.

ThetheFt. take ownership long before statutory period of possession public records, whenis over. this office Lauderdale Sun Sentinel reports that receives a claim of adverse possession Broward andlawPalm Beach Florida requires that counties adverse possession claimants file a claim with notify the record owner by mail, have the had around 200 office adverse property appraiser’s of the we county in which property is located, including a copy ofthethe claim, and possession claims filed entering in recent within one year after the property.

Subsequently claimant months.

Three people, who filed insert the words adverse must pay taxes and other assessments on the property for seven possession over 100 claims,years haveand been consecutive filearrested Suit to Quiet Titleattothe obtain clear titleoftothe the parcel filed beginning so far.property.

Pasco The County reports over notification law does not require of the ownerOwners description on property our website.

600 adverse possession when a claim is filed claims but doesfiled, not preclude the property appraiser’s office mostlyfrom ondoing abandoned vacant land and tenants can check the status of so. sold years ago, sight unseen, to out their property or rental by going our when website, www.SC-PA.com. of state investors have walked In the spirit of who full disclosure of publicto records, this office receives a away. claim One ofperson has been arrested We have been told thatincluding Charlotte adverse possession we notify the record owner by mail, by thea copy PascoofCounty Sheriff ’s office the claim, and insert the words adverse at the also County andpossession Manateefiled County for scheming toofdefraud, claiming 72 onsend beginning the parcel description our website.

Owners and tenants letters with copies of the claim vacantcan properties, the locks check thechanging status of their propertyto or rental by goingofto record. our website, the owners You can and renting out 31 of We them. www.SC-PA.com. have been told that Charlotte County and Manatee call the Charlotte County Property alsoCounty, send letters copies of the claim to the owners of record.

In County Sarasota thiswithoffice Appraiser’s officeoffice at (941) 743-1593 has only seven adverse possession You can call the Charlotte County Property Appraiser’s at (941) 743Manatee County Appraiser’s claims.

One, from 2002, is on a or the 1593 or the Manatee County Appraiser’s office at (941) 748-8208. narrow strip of land abutting the office at (941) 748-8208.

SEPTEMBER 2010

Sarasota Realtor® Magazine

Adverse Possession without Color of Title §95.18 Real property actions; adverse possession without color of title.— (1)When the occupant or those under whom the occupant claims have been in actual continued occupation of real property for 7 years under a claim of title exclusive of any other right, but not founded on a written instrument, judgment, or decree, the property actually occupied shall be held adversely if the person claiming adverse possession made a return of the property by proper legal description tp the property appraiser of the county where it is located within 1 year after entering into possession and has subsequently paid all taxes and matured installments of special improvement liens levied against the property by the state, county, and municipality.

(2) For the purpose of this section, property shall be deemed to be possessed in the following cases only: (a) When it has been protected by substantial enclosure. (b) When it has been usually cultivated or improved.

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

Governments look on adverse possession as a way to encourage the highest and best use of the property – creating the greatest taxable value.

Title-ist.

Representing Your Interests, From Concept To Close.

When it comes to representing your interests in a real estate transaction, look to attorney Steven R. Greenberg.

Steve is a Florida Bar Certified Real Estate Specialist with more than 25 years experience and handles hundreds of closings each year. Call us!

A Firm Commitment To You.

Steven R. Greenberg

Board Certified Real Estate Attorney

2033 Main Street, Suite 500 Sarasota, FL 34237 Call: 941.365.6216

For Immediate Service: Linda Witt, Director of Marketing Call 941-586-4412

e-mail: REinfo@icardmerrill.com

Are You A Realtor® Emeritus?

Any person who has held membership in the National Association as a Realtor®, for a cumulative period of 40 years or longer in one or more Associations of Realtors® is eligible for Realtor® Emeritus status.

Upon approval by the Board of Directors of the National Association of Realtors®, no further payment of dues is necessary to the National Association, Florida Association and My Florida Regional MLS starting in the billing year 2011, following approval. The waiver covers NAR dues, NAR Public Awareness Campaign assessment, FAR dues, FAR Issues Advocacy assessment and My Florida Regional MLS fees.

A standard certification form (provided by NAR) is necessary to begin the approval process for a Realtor® Emeritus candidate, which is to be filled out by you and SAR. Any available documentation that would provide reasonable substantiation of 40 years’ membership should be attached to the form when it is returned to SAR.

The deadline to apply is Friday, Oct. 1, 2010. SAR must be in receipt of completed certification forms and

supporting documentation for approval by that date. Please mail, email or fax completed certification form and supporting documentation (find posted on our web site) to: SAR-Membership Dept.

ATTN: Daniel Andrews, 3590 S. Tuttle Ave., Sarasota, FL 34239 Fax to: (941) 923-0191 email: dan@sarasotarealtors.com If you have questions, call Dan directly at 941-328-1152

Coastal Cleanup set for Sept. 25th The Sarasota Association of Realtors® will participate in a major annual Coastal Cleanup event on Saturday, Sept.

25th from 8 a.m. to noon, and all members are invited and encouraged to attend.

SAR’s Green Realtors® Alliance of Sarasota (GRAS) and the Community Outreach Committee are partnering in an effort to get out the word on this event. In addition to the annual cleanup at various local beaches and bayfront sites, the event is a great way to promote this area’s incredible climate and scenic beauty in the wake of the BP oil well disaster in the northern Gulf off Louisiana. The oil never came close to reaching local shorelines, and experts now say there is a very, very minimal chance it will ever directly impact our beaches and byways.

The annual Coastal Cleanup is sponsored by Keep Sarasota County Beautiful. An informational flyer is available on the SAR web site under Hot Topics and Events.

You can register to participate up to Sept. 7th, and clean-up supplies and t-shirts will be available to registered participants.

A local contingent will gather at Bayfront Park and Marina at the Marina Jack area at 8 a.m. Saturday, Sept. 25th.

14

SEPTEMBER 2010

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Sarasota Realtor® Magazine

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Sarasota real estate market returns to pre-tax credit numbers in July

a

forces which continue to As expected, property sales in “There logically had to come a limit our nation’s recovery the Sarasota real estate market time when sales would taper – high unemployment, in July 2010 slowed to pre-tax lower consumer demand, credit numbers following the off from the highs we hadn’t and other factors. But expiration of the federal $8,000 experienced in almost five years.” we remain confident that homebuyer incentive. better days are ahead.”

Property sales in July 2010 - SAR President Erick Shumway The level of sales of stood at 525 total sales, distressed properties declining 32.4 percent from (foreclosures and short the June 2010 figure of 776 sales) rose in July 2010 sales. The sales figure was to 48.7 percent of the much closer to the 506 sales overall market, from 44.6 in January 2010 and the 528 percent in June 2010. sales in February 2010, when the The distressed market also homebuyer credit wasn’t a factor topped 48 percent in late in the market.

2009.

In July, 374 single family homes The property inventory were sold, compared to 576 single level remained fairly family homes sold in June 2010. consistent, rising slightly The median price also trended above the 6,000 level in lower at $155,000, compared to July 2010 at 6,045, still June’s figure of $175,000. The one of the lowest monthly figure was more in line with the levels since late summer of 12-month rolling median sale 2005. price of $162,000.

The months of inventory Condo sales in July stood at for single family homes 151, a drop from last month’s in July 2010 rose to 10.4 figure of 200. The median price months from 6.6 months of condos also fell in July to in June. This figure $127,000, which again primarily represents the number of reflected distressed property sales. months it would take to Non-distressed condo sales saw a sell all available homes median price of $227,500, while at the current pace. For for distressed properties, the condos, the figure rose to 14.4 months from 10.6 months, median sale price was $73,000 for bank-owned condos and still lower than last July’s figure of 16.9 months. Once the $121,700 for condos involved in short sales. market reaches the 6 month level it is considered to be in For the last 12 months combined, the median sale price equilibrium between a buyers and sellers market. for single family homes was $162,000. For condos, the median price over the last 12 months was $175,000.

Pending sales also dropped to 653 - slower than the period during which homebuyers were eligible for tax credits.

The March and April pending sales figures both topped Velashape for Size 1,000 and reflected a last minute rush to beat the federal and Cellulite Reduction homebuyer tax credit deadline.

Triniti for Skin Tightening “We are seeing what was predicted – a slower period and Rejuvenation Elos Hair Removal following the expiration of the tax credits and the rush of Medically-Supervised Weight Loss buyers to the closing table,” said 2010 SAR President Erick 2828 South US 41 Sarasota, Fl 34239 Shumway. “There logically had to come a time when sales would taper off from the highs we hadn’t experienced in almost five years. We are not immune to the economic

www.sarasotarealtors.com

Sarasota Realtor® Magazine

SEPTEMBER 2010

15

Sarasota MLSSM Statistics July 2010 Single Family Condo

Unit Sales 700 600 500 400 300 200 100 0 Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10 May‐10

Jun‐10

Jul‐10

Note: March - June sales reflect Homebuyer Tax Credit period.

Single Family Condo

Median Sale Price $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Jul‐09

Aug‐09

Sep‐09

Oct.09 Nov. 09 Dec‐09

Jan‐10

Feb‐10 Mar‐10

Apr‐10 May‐10

Jun‐10

Jul‐10

Single Family

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported

%Pending

# New Listings

# Off Market

This Month

3,877

374

9.7

176

$155,000

$162,000

10.4

487

12.5

730

223

This Month Last Year

4,067

450

11.1

208

$185,000

$172,000

9.04

617

15.2

505

164

3,819

576

15.9

173

$175,000

$165,000

6.6

575

15.9

790

264

3,544

‐

176

$162,500

‐

‐

4,547

‐

6,082

‐

Oct 94.4 ‐

Nov 94.1 ‐

Dec 94.2 ‐

Last Month YTD

‐

Jan 93.0 94.4

2009 2010

Single Family – Sale Price Vs. List Price % Rates Feb 93.1 92.8

Mar 92.5 95.2

Apr 92.4 94.8

May 93.2 95.2

Jun 93.8 95.3

Jul 93.2 94.7

Aug 93.6 ‐

Sept 94.2 ‐

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Aug. 10th, 2010, 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

SEPTEMBER 2010

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics July 2010 Single Family Condo

Inventory 5,000 4,000 3,000 2,000 1,000 0 Jul‐09

Aug‐09 Sep‐09

Oct‐09 Nov‐09 Dec‐09

Jan‐10

Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10

Jul‐10

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10 May‐10

Jun‐10

Jul‐10

Note: Feb. through May pending sales reflect Homebuyer Tax Credit period.

Condo

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

2,177

151

6.9

203

$127,000

$175,000

14.4

166

7.6

261

189

2,447

145

5.9

225

$212,000

$212,010

16.9

185

7.6

245

233

2,174

200

9.2

203

$145,000

$185,000

10.9

192

8.9

260

219

‐

1,185

‐

204

$185,000

‐

‐

1,763

‐

2,262

‐

Nov 92.3 ‐

Dec 93.1 ‐

This Month This Month Last Year Last Month YTD

2009 2010

Jan 91.0 92.5

Condo – Sale Price Vs. List Price % Rates Feb 90.2 92.4

Mar 90.4 92.5

Apr 92.2 93.2

May 90.1 94.2

Jun 91.4 93.7

Jul 92.1 94.2

Aug 92.4 ‐

Sept 91.5 ‐

Oct 92.4 ‐

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

SEPTEMBER 2010

17

CID (Commercial Investment Division)

Risk and reward is key to real estate

By Lee DeLieto, Jr. CID President

Sarasota County.

As many of my loyal readers may recognize, I try to adhere to the theme of the monthly magazine with my articles. In August’s issue, my theme was pure summer laziness. This month’s issue theme is “Safety” - so let’s see where it takes me.

If asked, my Mom would say safety means simply no running with scissors. Others might say, “Always wear your seatbelt.”

I was at the bank the other day experiencing a rare opportunity - depositing a commission check. The teller, who knows I’m a commercial broker, asked me how was business. I of course responded in my witty-like self; did you happen to notice the whopping check I just deposited? The point of her question and the eventual point of this article is the mundane safety of our daily activities due to the conservative nature of our spending habits as a direct result of our lack of excess cash.

The teller would be the first of two people that same day to ask me if I caught any of the episodes of Shark Week on TV. Do you see the theme here? Safety equals security. The security of having financial strength due to sales gives us the perceived strength of taking financial risks. This could be as simple as buying that big screen TV now as opposed to waiting for the holidays.

Our perceived financial safety net has reduced some of us to living vicariously through the risk of danger from the living room sofa. Maybe the big TV will give you the feeling that you are really swimming with the sharks. I guess it beats swimming with the fishes.

In my July article, I mentioned the oil spill and the paralyzing perception that a couple of my buyers experienced, causing them to halt any risk of purchasing commercial real estate. The oil spill has since been capped and at least one of those buyers has come back into play. Fortunately, they see the safety of investing in

Officers:

SEPTEMBER 2010

I am sure you can all parallel this same theory or risk and reward in your own personal habits. The fact that you are still practicing real estate is the purest of testaments. What’s more risky than relying on your livelihood to be dictated by the cyclical ebb and flow of our industry? Maybe because you have done everything in your power to become educated; honed your skills with every transaction; eliminated risk of failure through professionalism; and see the rewards in the safety in numbers - the number of closed sales, that is.

Speaking of safety in numbers, I thought maybe I should close with some statistics as they relate to commercial office leasing activity. Some feel that the office sector is a leading market indicator. As of the last quarterly Sarasota County Office Vacancy Report, released June 1st, we have seen an overall 80,248 SF of office lease absorption for 2010 to date. This is huge!

Not only have we more than doubled the leasing activity in 2009, we still have two more quarters to go!

I suppose I have to take my own advice now and buy that big screen TV.

2010 CID Officers & Directors

President: Lee DeLieto, Jr., Michael Saunders & Company President-Elect: Anthony Homer, Lakewood Ranch Commercial Vice-President: Brad Lindberg, Hembree & Associates Past President: Jag Grewal, Ian-Black Secretary: Tim Mapp, Mapp Realty Treasurer: Linda Emery, Michael Saunders & Co. 18

As an avid motorcyclist, I experience risk the moment I swing my leg over the seat and start the engine. For those readers who ride, you understand the inherent nature of motorcycling and risk. But with risk comes reward, and just how much reward you want is directly related to the amount and type of riding you do. There is something so inexplicably rewarding for me to be on the back roads of a twisty mountain, leaning hard into a turn’s decelerating apex. Why do I take this risk? Because I know I have done everything in my power to eliminate risk by taking motorcycle safety courses and simply honing my skills with each ride.

Directors:

Sarah Olesen: Keller Williams Commercial- (1 year term - 2010) Pete Skokos: Norton, Hammersley, Lopez & Skokos (1 year term - 2010) Eric Massey: Michael Saunders (2 year term 2011) Diane Lee: Wagner Realty (3 year term - 2012) Lori Hellstrom Conable: Osprey Real Estate (1 year 2010)

Sarasota Realtor® Magazine

www.sarasotarealtors.com

In today’s commercial world, cash is king

By Brad Lindberg CID Vice-President

Four years ago in 2006, the real estate boom began its descent into the abyss.

While most of us in the real estate profession always see the glass half full, there were some who were ahead of the curve with the knowledge that we were in for rough times. Those “half empty glass” people were the bankers.

The banking institutions were all too aware that the loans that they made were not built on sound foundations.

The sudden over abundance of vacant inventory sent shivers up their balance sheets. Unfortunately for the rest of us, the upcoming Presidential election gave us false hope that all would be better once there was a changing of the guard in Washington.

Hope soon gave way to fear of the unknown, only to end up in panic.

The economy collapsed and our wealth evaporated in an instant. Still in denial, we hung on to hope that our properties would be saved from drowning by government intervention. We hoped the ugly waters would recede and our investments would be saved.

“Hold on a little longer” became the mantra. “Give the economy a chance.

We need a little more money and a little more time.”

In 2009 it became evident that we

were going to have plenty of time, but not enough money. The well was going dry and the next financial infusion was nowhere in sight.

2010 began a new decade of hope.

Unfortunately, HOPE is not a strategy.

Hope is the emotion of feeling good about “something”. The “something” has to be a plan, a solution, a strategy we can hang our hopes on. A possible strategy might have been for the banks to start loaning money again.

We all know now that the banks were so afraid of the loans they made, they wrapped them up in sweet smelling packages and sold them to unsuspecting investors around the world. Although the outcome had monumental consequences, the reason not to ever loan money again, unless

there is no risk, is ludicrous. This leads me to my point.

If the economy is going to reignite, businesses must have capital. If banks are not willing to make loans, we must look elsewhere. Bankers tell us they are loaning money as long as you don’t need the money. What does that mean?

To secure a loan from a commercial lender, you must be able to pledge something of value. So far, that has always been the formula.

Today, it seems that pledging property has come down to the liquidation value. If you are fortunate enough to be able to make a 50 percent LTV loan, you better hope that the value doesn’t drop below that ratio, or you will be coughing up more equity on demand. This is called the transference of risk.

The reason it has been reported that business is sitting on $1.2 trillion in cash is that business knows that if they need to re-capitalize their business, they will be funding it themselves.

Why? Because today, “Cash is King!” And unless we demand that the banking institutions free up lending to small business, we all will be bowing to a new “King.”

CID charity golf tourney slated on October 18th

This year’s Commercial Investment Division Charity Golf Tournament will be held on Monday, Oct. 18th 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. www.sarasotarealtors.com

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 $119, which includes a box lunch and the awards reception. Non-golfers may attend the reception only for $35.

Sign-in begins at 11:30 a.m. and shortgun start is at 12:30 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.

Sarasota Realtor® Magazine

SEPTEMBER 2010

19

Education Programs 20

Are you ready to be an SAR leader?

Apply by Sept. 14th for program

SAR’s third annual Emerging Leaders Program is designed to identify potential leaders and introduce them to all aspects of the SAR organization and the local business community. One of the desired outcomes is to find and train future volunteers and leaders for the local, state, and national Realtor® associations.

These sessions will introduce the breadth of our local association and its membership area, the scope and systems that operate the state and national organizations, participation in leadership training at the conventions, and skills training for volunteer leadership at SAR. Two additional programs are optional and attendance will earn extra points for the participant.

Graduates should be prepared to become volunteers and committee chairs for SAR and prepare for future local Board leadership. Applications will be reviewed by the SAR Executive Committee for approval. There is a $50 commitment fee to participate.

Here are the dates of the programs (completion of three of the four programs is mandatory for graduation): 1. Sept. 29 – Travel the Leadership Path - Panel led

by Cathy Whatley, with panelists Michael Saunders, Michael Saunders & Co., Judy Schomaker, 2005 SAR President. Catherine B. Whatley (Cathy), a Realtor® from Jacksonville, Florida, served as the 2003 President of the National Association of Realtors®, America’s largest professional association with over 1 million members. A Realtor® since 1969, Cathy is broker-owner of Buck & Buck, Inc., a family firm established by her grandfather in 1907. At the state level, Cathy was the President of the Florida Association of Realtors® in 1996 and received the Realtor® of the Year award in 1998.

She currently serves as one of nine commissioners on Florida’s Commission on Ethics and also is a member of the state’s Impact Fee Task Force.

2. Oct. 27 – The Role of SRQ Airport in the Area Economy - Participants learn about the roles that business, government, the arts and not-for-profit institutions play in making Sarasota County a great place to live and work; participants will be shown ongoing opportunities to make an impact in the community themselves by learning where and how to get involved in current and ongoing issues.

3. Nov. 17 - The Way of Tomorrow™ Presentation: Jerry Matthews, CAE. Amazing shifts are occurring. They impact all levels

SEPTEMBER 2010

Stafford Starcher, Pamela Charron and Kristin Triolo are recent Leadership program graduates.

of society, business, and personal life. Enabled by technology and empowered by deep human desires, these shifts both create and destroy. A fundamental reversal of decades of business and personal foundations is rapidly evolving. This is more than a trend - more than a change – it is a new way of being.

Areas leading these changes are: Society, Technology, Consumers, Communications, and Individuals.

Massive, connected and simultaneous movements dramatically and permanently affect each of these areas and certainly professional services.

“The Way of Tomorrow” is a presentation on a future that is literally exploding before us. Jerry reveals trends, concepts, and movements in understandable, clear language. And he suggests actions that organizations and individuals can take to become part of the future – or to understand it – and to be comfortable.

Jerry Matthews, recognized nationally for interpreting future trends and concepts, is a consultant for organizations all over the U.S. 4. Jan. 12, 2011 - The Making of a Leader Belton E. Jennings III, APR, RCE ,CAE, CIPS, President & CEO, Enjender LLC. The “Three-Way Agreement” (the NAR/FAR/SAR relationship); Robert’s Rules Made Easy; Exercises in Practical Problem Solving; What Members Expect from Leaders; Leading Effective Meetings; Your Job, My Job, Our Job; Your Pathway to Leadership; Antitrust and Conflict of Interest; “Been There, Done That” Wisdom for New Leaders.

Continued on P. 21, see LEADER

Sarasota Realtor® Magazine

www.sarasotarealtors.com

ListingBook® classes slated this month at SAR Title: ListingBook® Launch Course Dates: Sept. 21, 11 a.m. to 1 p.m.; 3 to 5 p.m.; Sept. 22 9:30 to 11:30 a.m.; 1:30 to 3:30 p.m.

Sept. 23, 11 a.m. to 1 p.m.; 3 to 5 p.m.

Sept. 27, 9:30 to 11:30 a.m.; 1:30 to 3:30 p.m.

Sept. 28, 9:30 to 11:30 a.m.; 1:30 to 3:30 p.m.

Location: SAR Main Auditorium Cost: FREE to SAR members Listingbook®, LLC, the provider of a broad and deep client-servicing software system for real estate professionals in markets nationwide, will launch their service this month to the SAR community.

Earlier this year, SAR engaged with Listingbook.com to bring its comprehensive and robust service to their agents.

The online, agent-centric system, will transform how homebuyers and sellers communicate with their agent, access listings, and obtain other property related information and community demographics.

SAR members can take advantage of numerous opportunities to become familiar with the new tool and service throughout the month of September.

For more registeration information, simply visit www. sarasotarealtors.com and look under Education tab.

Learn about 2010 FAR/BAR changes Title: New Florida Realtors®/Florida Bar Contract Date: Wednesday, Sept. 15, 9 a.m. to Noon Instructor: Julie Horstkamp, Esquire Cost: SAR & SCBA Members: $10 Others: $20 Come learn all about the new and improved Florida Realtors®/Florida Bar Residential Contract and Florida Realtors®/Florida Bar “As-Is” Residential Contract.

Some of the changes include larger font, only calendar days used for all time periods, new personal property section, use of term collected funds, TILA closing date extension, Seller to pay condominium and HOA estoppels fees, twenty (20) day elevation certificate period, if applicable, time period for Seller to respond to Buyer’s home inspection report, tree loss limited to pruning or removal, CDD pro-ration clause, loan commitment defined and counter-offer/rejection boxes added to just name a few.

In addition, learn about the new Florida Realtors®/Florida Bar Short Sale Approval Contingency Rider and other new riders. As a member of the Florida Attorney Realtor® Joint

Committee and part of the sub-committee that actually worked on the new contracts and riders, Ms. Horstkamp will provide an in-depth analysis of all of the changes and reasoning behind the changes.

LEADER

March 30, 2011 - 9-10:30 a.m.--Economic Development 101 Want to learn about tools that can help your clients’ businesses succeed? Attend this important workshop hosted by the Economic Development Corporation of Sarasota County. Topics will include: local and state incentives, start-up resources, expansion and relocation services, rapid permitting, funding sources, examples of successful projects and much more. Bankers, engineers, attorneys, developers, accountants, wealth managers and other professionals serving business clients, as well as Realtors, will be invited.

Questions? Call Catherine McCaskill at 3281167. For a complete application packet, go to www. sarasotarealtors.com and look under “Hot Topics.”

From Page 20

Belton Jennings is a 35-year association executive and former CEO of the Orlando Regional Realtor® Association.

He has held many leadership positions in his local community as well as in the state and national Realtor® organizations. Belton is widely recognized for his highly informative and always entertaining presentations.

Optional Programs (earn extra credit) Feb. 23, 2011 - 9 to 11 a.m. - Value of Tourism, Networking and Community Service to Sarasota Realtors - Senior Staff, Sarasota Convention & Visitors Bureau

www.sarasotarealtors.com

The new forms are already available for use on www. floridarealtors.org website. The old FAR/Bar will be removed entirely at the end of September. Don’t miss this opportunity— sign up today at www.sarasotarealtors.com.

About the instructor: Julie A. Horstkamp is an attorney with the Berlin-Patten Law Firm in Sarasota. Ms. Horstkamp practices primarily in commercial and residential real estate, short sales, title insurance and lending. She has been designated by The Florida Bar as a Board Certified Real Estate Attorney. Ms. Horstkamp currently serves on the Florida Attorney Realtor® Joint Committee representing the 2nd DCA as well as serving on the Sarasota Realtor® Attorney Joint Committee and the Real Property Section Committee of the Sarasota County Bar Association.

Sarasota Realtor® Magazine

SEPTEMBER 2010

21

LWRC-1

MLXchange education gives you the edge 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!

MLXchange Advanced Sept. 1, 9 a.m. to Noon Take MLXchange to the next level!

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

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

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

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

- Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders MLXchange Basic Sept. 8, 20, 9 a.m. to Noon Mandatory session for all new users.

Learn the basic tools of MLXchange.

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

22

SEPTEMBER 2010

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 Sept. 8, 20, 1:30 to 3:30 p.m.

This class is mandatory if you will be entering and updating your own listings. You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.

- Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that have specific entries in the Rules and Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listings Sarasota Realtor® Magazine

iMapp - Interactive Tax and Mailing Labels Sept. 22, 1:30 to 3:30 p.m.

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

- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones - Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches Creating a Professional CMA Sept. 22, 9 a.m. to Noon This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default

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LWRC-105 Sept SAR ad_Layout 1 8/20/10 4:21 PM Page 1

LAKEWOOD RANCH SPOTLIGHT

LWR

COMMERCIAL REALTY

LETTER FROM LWR Commercial Realty President Brian Kennelly: This quarter has proven to be an extremely busy season for Main Street in Lakewood Ranch. As the centerpiece of our thriving and growing community, Main Street has truly become a gathering place for the residents of Lakewood Ranch, Sarasota & Manatee counties. The residents' requests played a significant part in drawing new businesses to Main Street this summer. In response to resident feedback, we were proud to open The Fish Hole miniature golf and Eduardo’s Cantina Mexican restaurant at Main Street. In addition to these new businesses, and our long-time Main Street Trattoria is one of five new establishments, businesses coming we also welcomed to Main Street!

Main Street Trattoria, Knot Awl Beads and Prudential Palms Realty in August. Come spend an

afternoon shopping and dining on Main Street at Lakewood Ranch and be sure to stop in our new businesses!

For a Main Street calendar of events go to: www.lakewoodranch.com/mainstreet.

Become a fan today, go to: www.facebook.com/ LakewoodRanch.

Play tag! Learn how at: lakewoodranch.com

Tour of Homes at Lakewood Ranch features more than 15 new home builders!

TOUR OF HOMES begins MARK YOUR CALENDARS for the 2010 Lakewood Ranch Tour of Homes! The community’s premier real estate event takes place from November 5-21 and includes beautiful model displays from more than 15 new home builders and several events to keep you busy for the most exciting real estate tour in southwest Florida!

For a complete event calendar and map go to www.lwrevents.com

TOUR NEW MODELS! November 5-21, 2010 10 am - 5:30 pm M-Sat. 12 - 5 pm Sun. Call 941-907-6000 for details.

MARKETING trends Lakewood Ranch continues to be the market leader with new residential community openings and more than 100 Central Park homes new home sales this year! start at $126,990 Neal Communities’ newest gated neighborhood, Central Park, with pricing starting in the mid $100s, is now open and the newest section of Country Club East, Secret Harbor, is open for lot reservations. Save the date for this year’s Tour of Homes when all of Lakewood Ranch’s beautiful new models will be on display, along with plenty of fabulous events to attend! This year’s Tour of

Homes is November 5-November 21.

SAVE THE DATE party On October 15, Lakewood Ranch will host a celebration to remember, in honor of the 15 year anniversary of the first home sold in Lakewood Ranch. In conjunction with the Lakewood Ranch Business Alliance’s Car-BQ, the fall festival-type party will be held at the Sarasota Polo Grounds and feature food, live entertainment, kids activities and much, much more. Stay tuned for more details…

MUSIC on Main Join us on Main Street at Lakewood Ranch from 6-9 pm for these free concerts:

September 3: The Mitch Clark Band benefitting Wobbly Feet Foundation

October 1: The Lounge Cat Band benefitting the Lakewood Ranch Business Alliance

November 5: Dr. Dave benefitting the Sarasota Film Society

December 3: SoulRCoaster benefitting the LWR Community Foundation

For more information go to: www.lwrevents.com

Go to www.lakewoodranch.com or call 941.907.6000 to learn more.

Models are open daily: 10 am- 5:30 pm Mon.-Sat. & 12- 5 pm Sun.

On the SAR Scene

Great crowd at Realtor速 Day Bowling!

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

SAR members are active, energized and out in force in the community!

You can find hundreds of photos from our regular events at www. facebook.com/SarasotaRealtors Please visit soon and tag your friends and business associates!

Photography by Jesse Sunday

Brian McGreevy and Jane Johnstone of Sarasota Home Realty joke around at the annual bowling event at Sarasota Lanes, along with their tropical birds (?).

The Savannah Preserve bowling team and their creative uniforms drew a lot of attention. From left: Kim Bockover, Carol Demery, Catherine Lamphier and Ronda Gallehue.

Mark Sabuda with Fifth Third Bank and Amanda Carbonneau with Berlin Patten Law Firm take a break from the bowling.

Jennifer Morgan, Juergen Stahl, Gabriele Charity and Ruediger (Rudi) Weiss of Charity & Weiss International Realty at the event.

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SEPTEMBER 2010

Sarasota Realtor速 Magazine

www.sarasotarealtors.com

Tom Hedge, Jr., Monica Barth, Charlotte Hedge and Tom Hedge from Sotheby’s International Realty enjoy the annual bowling event at Sarasota Lanes.

SAR Affiliate Karen Gagliardi of Berlin Patten Law Firm delivers pitchers of beer at the Realtor® Day Bowling event.

Elaine Thomas and Mary Gamrot of Luxury Home Magazine volunteered and got into the Hawaiian atmosphere at the big annual bowling event.

Blanda Glisson and her daughter, Caitlyn, 9, enjoyed the bowling event.

SAR members Debbie Judge and Mike Bruno (SAR President-Elect slated to lead in 2011) have some fun at the big bowling event. www.sarasotarealtors.com

Sarasota Realtor® Magazine

SEPTEMBER 2010

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y

Short Sale Approval Clause document now available

By Julie Horstkamp, Esq. SAR Affiliate

You can now use the Florida Realtors®/Florida Bar Short Sale Approval Contingency Rider when using the Florida Realtors/Florida Bar As-Is Residential Contract for Sale and Purchase which you will find under Clause G of the Florida Realtors/Florida Bar Comprehensive Rider Rev. 6/10. The purpose of this article is to give a brief overview of Clause G (“Clause G”) and compare it with Florida Association of Realtors Short Sale Addendum SSA-2 (“SSA-2”).

Under Section 1 of Clause G, a short sale approval letter that does not release the Seller for the deficiency, or includes additional terms and obligations affecting either Seller or Buyer is not deemed “Short Sale Approval” unless the affected party agrees to same. Consequently, Seller has to deliver the short sale approval letter to the Buyer within 3 days from receipt which are calendar days under the new FAR/BAR As-Is Contract. Further, under Section 3, Seller has to promptly notify Buyer if Seller is denied or receives approval.

Under Section 4 of Clause G, the Short Sale Approval Deadline is 90 calendar days (if left blank) from the Effective Date of the Contract in contrast to the SSA-2 which is 45 business days (if left blank) from the Effective Date. Further, either party can terminate the Contract upon the expiration of the Short Sale Approval Deadline versus under the SSA-2 there is only a 5 business day window from expiration of the Short Sale Approval Deadline in which either party can terminate. More importantly, under Section 4 of Clause G, the Contract is automatically terminated within 120 calendar days (if left blank) from the Effective Date of the Contract if Seller has not delivered the Short Sale Approval to Buyer. Therefore, don’t forget to also extend the Contract Expiration Date if you extend the Short Sale Approval Deadline.

Under Section 5, the Initial Deposit, Short Sale Approval Deadline and Contract Expiration Date are computed using the Effective Date of the Contract and all other time periods do not commence until Seller delivers Short Sale Approval notice to Buyer. In contrast, SSA-2 gives you the option of having the time periods either commencing upon the Effective Date of the Contract or when Seller delivers Short Sale Approval notice to Buyer.

Under Section 6, the Closing Date under the Contract is changed to 45 calendar days (if left blank) from Buyer’s receipt of the Short Sale Approval. Under the SSA-2, the Closing Date under the Contract is not changed with the exception that the Closing Date is extended for a period not to exceed 10 days (if left blank) if Seller’s Lender needs additional time.

With regards to Seller entering into back-up contracts providing that if the primary contract is terminated, then the back-up contract becomes the primary contract, Section

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SEPTEMBER 2010

G gives you two options by checking either (a) or (b). First option under Section 7(a), Seller cannot enter into any backup contracts. Under Section 7(b), Seller may accept or enter into bona fide back-up contracts. If neither option is checked, then option (a) is the default and would apply. In contrast, under Paragraph 5 of SSA-2, Seller may enter into multiple offers and submit those accepted offers to Seller’s Lender.

Unfortunately, Section 7(b) is silent as to whether Seller may submit the back-up contracts to Seller’s Lender which I think could create issues between the various parties. For instance, if the purchase price under the primary contract is lower than the back-up contract entered into 2 months after the Effective Date of the primary contract and Seller submits the back-up contract to Seller’s Lender and Seller’s Lender then approves the back-up contract. The Buyer under the primary contract was never provided the opportunity to match the back-up contract’s price.

Although it probably goes without saying, under Section 10 of Clause G, the Contract is terminated if the Property is sold at a foreclosure sale prior to the Seller obtaining short sale approval and closing the transaction.

In summary, I believe Clause G is a very comprehensive addendum covering most, if not all, of the contractual issues involved in short sale transactions. Further, since the FAR/ BAR As-Is Residential Contract for Sale and Purchase is widely used in short sale transactions, you now have a FAR/ BAR short sale contingency rider to use with the FAR/BAR As-Is Contract.

I would like to disclose that I currently serve on the Florida Realtor®-Attorney Joint Committee and worked extensively drafting Clause.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

t

t

By Wendy Cole Realtor® Magazine Online

“The only constant is change, continuing change, inevitable change.”

The real estate market was probably not the original focus of this timeless maxim, which has been credited to both the late writer Isaac Asimov and the ancient Greek philosopher Heraclitus.

Yet the ability to adapt and find opportunities during difficult times is what sets apart the topperforming real estate companies from those that are simply trying to hang on until the economy rebounds.

“It’s not enough simply to cut costs and pull back on your bricksand-mortar operations,” says Pam O’Connor, president and CEO of Leading Real Estate Companies of the World, a global network of 600 real estate companies.

Instead, the smartest real estate companies are being more selective in their recruiting, growing through careful acquisitions, aggressively developing and marketing their ancillary services, and increasing agent productivity by providing outcome-based learning opportunities.

Such tactics have accrued to the benefit of many brokerages on REALTOR® Magazine’s Top 100 Companies list. Slightly more than half of the companies—51 to be exact—showed an increase in transaction sides in 2009, up from just 16 companies with such growth in 2008.Meanwhile, 21 companies reported higher annual sales volume, compared with just 11 the year before.

O’Connor says she’s a strong believer in the power of local branding. Independent brokerages and franchisees with deep roots in their markets have a significant advantage over national companies

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that don’t have a recognized local brand.

“National brands are less meaningful than they used to be because of the Internet. Consumers may have a harder time, for example, finding a branch in their neighborhood because they have to drill down so far when searching the company Web site,” she says. “What makes a difference is having skin in the game. With local ownership, it’s their money and their deals and these businesses tend to do better.”

Extra Services Bring in Needed Revenue Howard Hanna Co., a leader in the Cleveland and Pittsburgh markets, has found that its ancillary services are helping it thrive despite profound economic struggles in its core regions. The company’s mortgage and title services have bolstered the bottom line at a time when sales are less robust.

“In early 2009 we committed to lending $125 million every month, and we lent it all out. That gave us an edge in our markets when credit was generally tight,” says Helen Hanna Casey, president of Howard Hanna.

Buyers apparently like the convenience of one-stop shopping as long as mortgages and other services are competitively priced. Casey says the percentage of buyers using her company’s mortgage services rose to about 45 percent in 2009 from 38 percent the year earlier.

Casey is also a champion of strong, consistent communications between managers and sales associates. “We have weekly meetings for all of our managers.

“We do a lot of training and outreach for our offices. And having seen the downturn coming three or four years ago, we didn’t go into shock when it happened. We were prepared by helping our agents develop the right skill sets for the current market,” Casey says.

Sarasota Realtor® Magazine

Creating a Great Web Experience Providing consumers with more transparency in its operations and offering state-of-the art online tools are big parts of ZipRealty’s success strategy. The Emeryville, Calif.–based company’s Web site allows consumers to post reviews of their sales practitioners and see what other houses in their neighborhood sold for.

“People meet us online. Instead of focusing on retail operations, we make it possible to window-shop with us on the computer,” says CEO Pat Lashinsky.

The approach is working.

ZipRealty’s site gets about 130 million page views a month, he says. And the company—which operates in 20 states from California to Massachusetts—reported a 34.6 percent increase in sides last year and an increase in sales of 14.1 percent.

“We’re known for focusing on the buyer’s side of the business. But now we’re also going after listings more aggressively,” Lashinsky says.

Another company that’s doing anything but waiting for the market to turn around is Prudential California/Nevada Realty, based in Pleasanton, Calif. More than half of its 1,795 salespeople have earned the National Association of Realtors® Short Sales and Foreclosure Resource (SFR) certification, and the specialized training has translated into bigger numbers for the company.

Its transaction sides increased 21 percent in 2009 to 7,628, boosting its ranking 10 spots from last year to No. 42. “We believe in going to where the market is. Agents can still be productive and make a living. They just need the proper support,” says President and CEO Ed Krafchow.

This type of proactive approach will serve brokerages well as the market continues to improve and change.

SEPTEMBER 2010

Broker Corner

Top 100 real estate companies ‘change artists’

27

Get your tickets now for WCR Fashion Show!

d

By Karen Grant 2010 WCR President

“DAZZLE, GLAMOUR, DINE & GLITTER” Last call for tickets to the Women’s Council of Realtors Annual Fashion Show”. Wednesday, September 15th is the date, 11 a.m. is the time, and the Polo Grill’s Fete Ballroom is the place.

Buy your tickets for $45 each and get ready to shop Table Top Boutiques. Take a chance to win fabulous prizes at the Chinese Auction. Have a delicious lunch as you watch our new members model exquisite Fall Fashions from Dillards. A portion of the proceeds will benefit Forty Carrots Family Center.

For tickets contact Tina Johns at 941.232.4775, or by email at tina@tinajohns.com, or call any of our line officers for assistance.

A special thank you to Roger Capote who hosted a “Fashion Show Kick Off ” at his new Floral Design Studio on Central Avenue in Sarasota.

Michelle Teyke, Professional Certified Life Coach, was a positive influence as our members listened to her professional coaching in July.

- Successful Mindset 101 - Got a Goal? Nail It! - You Create What You Focus On - Be the Director of Your Own Life These were some of the goals she emphasized in achieving positive changes in one’s life.

At our August program meeting, Rep. Ronald Reagan spoke on “Legislation that affects Florida Realtors”. Highlights included: The State Budget, Gulf Oil Spill and Constitutional Amendments on the November Ballot.

Representative Reagan serves District 67 which is comprised of Sarasota, Manatee and Hillsborough counties. This district is currently one of the fastest growing areas in the state of Florida. Representative Reagan has been in the forefront of changes to growth

management, business regulations, insurance, and election issues.

The nominating chairman, Past President, Amy Worth-Paul, and her committee announced the slate of officers for next year.

The 2011 candidates are: Cindi Jackson, President; Marianne LeBar, President-Elect candidate; Mary Hellhake, Vice President of Membership candidate; Sharyl Smith, Treasurer candidate; Mary Mastro, Recording Secretary candidate; and Carrie Starr Rummery, Corresponding Secretary candidate.

Want more information about Women’s Council of Realtors? Go to our Website: www.SarasotaWCR. com and read what we are all about or contact any of our line officers for more information.

WCR 2010 Programs Sept. 15, 11 a.m. - Fashion Show - Polo Grill Oct. 8, 11 a.m., The Field Club: “What’s Happening in Washington?” - Rep. Vern Buchanan (if available) Nov. 12, 11 a.m., University Park Country Club: “The Impact of the Ringling Museum”, Award Ceremony and Farewell Dec. 10, 11 a.m., Installation of 2011 President and Board, Sarasota Yacht Club Sponsors Gold: University Park Lifestyles, Inc. Silver: Lakewood Ranch Communities, LLC

Neal Communities

Starr Title Insurance Services, Carrie

Rummery Bronze: Regions Mortgage

BB&T Oswald Trippe - Joe Sikora

Silver Fox Pest Management

MGA Insurance Group

Southern Trust Financial Planning

Intuitive Interiors, Debra Bois

2010 Line Officers

28

Karen Grant President Michael Saunders & Company Cell: 941-504-4952 karengrant@michaelsaunders.com

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

Leslie Lauritano Recording Secretary Regions Bank Cell: 941-504-1028 leslie.lauritano@regions.com

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

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

Melia Favorite Corresponding Secretary Iberia Bank Mortgage Cell: 941-807-0303 melia.favorite@iberiabankmortgage.com

SEPTEMBER 2010

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Brazelton, John: Ryntal Flinn Jr, Milton: LWR Communities LLC Ruben, Aaron: Coverstone Realty Summars, Shannon: Florida Dream Homes LLC

New Members

Bido, Ines: Platinum Home Sales Boakes, Petra: Stringer Management Inc. Brahler, Christine: Atchley International Realty Chmiel, Scott: Michael Saunders & Company Earl, Robert: Keller Williams Lakewood Ranch Harris, Laura: Club Realty Kelly, Robert: Michael Saunders & Company LaMaida, Thomas: Signature Sothebys Internat’l Langer, William: Coldwell Banker Res R E Lewis, Wendy: Horizon Realty International Lincoln, Janet: Coldwell Banker Commercial NRT Lippert, Rachel: Hook & Ladder Realty Inc. Lopez, Manuel: CareFree Realty Inc. Loughman, Lauren: Exit Realty Signature Prop Mogavero, Frank: Coldwell Banker Res R E Montanez, Patricia: Sarasota Foreclosures.com Inc. Nold, Scott: Keller Williams Lakewood Ranch Ortega, George: Coldwell Banker Res R E Paleologos, Barbara: Zupa & Associates Price, Christopher: Signature Sothebys Internat’l Ranck, Victoria: Tarpon Coast Realty Inc. Ratwani, Danielle: RE/MAX Alliance Group Ratwani, Sanjay: RE/MAX Alliance Group Stonis, Tiffany: Horizon Realty International Stubblefield, Polly Ann: Bosshardt Realty Services Vesely, Vivian: Area 342 Property Specialists

Now With ...

Barcelo, Jaime: Coldwell Banker Res R E Boynton, Brenda: Jeffrey S. Dieter R E Broker Bozza, Alice: Coldwell Banker Res R E Campbell, Karen: Horizon Realty International Davies, Lynn: Coldwell Banker Res R E Eberhardt, Marc: Wagner Realty Gruber, Tonna: Keller Williams On The Water Hawthorne, Susan: McKenna & Associates Inc. Hines, John: Wagner Realty Huber, Joyce: Prudential Palms Realty Kaplan, Kristina: RE/MAX Alliance Group Kellogg, Jami: Michael Saunders & Company McElyea, Candice: LWR Communities LLC Merila, Robert: Tarpon Coast Realty Inc. Muenzmay, Donald: Sarasota Style Realty Inc. Pittman PA, Troy: Cityscapes Int’l Realty Grp Repp, Susan: Realty Executives Solutions Sepe, Diana: Exit Realty Signature Prop Shaw, Stephanie: Prudential Palms Realty Shidel, R. June: Prudential Lakewood Ranch Rlty Sindoris, Chris: Coldwell Banker Res R E Strout Koken, Lauren: Prudential Palms Realty Thompson, John: Sandals Realty of Sarasota Toale, Suzanne: Sarasota Foreclosures.com Inc. Ulysse, Jean Marc: Horizon Realty International Unger, Joshua: Cityscapes Int’l Realty Grp Wagner, Harold: LWR Communities LLC Welch, Tondodda: Lalande Properties Williams, Anita: Century 21 Advantage Yturraspe, Jo Ellyn: Prudential Palms Realty

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SEPTEMBER 2010

New Affiliates

Advantage Home Systems 11110 35th Court East Parrish, FL 34219 Phone Number: 941-776-467 Representative: Rosalind Rokita Specialty: Advantage Home Systems, LLC is the premier home inspection company in your area. We have been trusted by home buyers to help them make informed buying decisions. Our home inspections typically range from 2-3 hours long depending on the size of the house and you are invited to follow along with your inspector as they perform their inspection.

Email: advantagehomesystems@tampabay.rr.com

Bullseye Home Inspection 1802 Ingram Ave Sarasota, FL 34232 Phone Number: 941-341-0577 Representative: Craig Winchell Specialty: Over a decade of full home mold and drywall inspections.

Email: craig@abullseyeinspection.com

Embellishments 1940 Northgate Blvd. Ste B-8 Sarasota, FL 34234 Phone Number: 941-358-8025 Representative: Cheri Pachter-Neary Specialty: Design Group of Sarasota, Interior Design and Staging Email: embellishments@comcast.net

Law Office of Lora Bedford, PA 1626 Ringling Blvd, Suite 101 Sarasota, FL 34236 Phone Number: 941-806-8148 Representative: Lora L Bedford Specialty: Law firm serving the community in matters of Real Estate, Foreclosures, family Law, Wills and Trusts.

Email: lora@sarasotalegalsolutions.com

Little Sprouts Family Care, LLC P.O. Box 25424 Sarasota, FL 34277 Phone Number: 941-363-1446 Representative: Mary Pat Radford Specialty: Little Sprouts Family Care is a nanny and babysitting placement agency dedicated to providing loving and interactive environment to families seeking nurturing care for their families.

Email: marypatradford@yahoo.com

SunTrust Mortgage 8055 South Beneva Road Sarasota, FL 34236 Phone Number: 941-925-8639 Representative: Scott E Johnson Specialty: SunTrust Mortgage does Conventional, FHA, VA, Jumbo, Construction and Other Mortgages.

Email: scott.johnson@suntrust.com

Sarasota Realtor® Magazine

www.sarasotarealtors.com

PrimeFinds 6244 Clark Center Ave. Unit #3 Sarasota, FL 34238 Phone Number: 941-866-2345 Representative: Scott Pintchuck Specialty: Simplify your life! We are truly a one-stop shop for remodeling and new construction at a fraction of retail cost.

Granite/Marble fabrication and installation. We provide and install all floor covering.

Email: scott@primefinds.net

Mr. Marcite Inc. 120 A Rich Street Venice, FL 34292 Phone Number: 941-488-0667 Representative: Patrick Mahoney Specialty: Mr. Marcite exclusively handles Southwest Florida swimming pool and deck renovations & resurfacing. Unlike

starting a new pool from the ground up, renovations require a certain level of experience and finesse to accommodate the challenges of updating pools and decks that have weathered years within a tropical environment. Renovations are our business and we have been the top choice of local residents for over 20 years now, under the same hands-on leadership.

Email: mrmarcite@mrmarcite.com

Southern Cross/NCS, LLC 6000 Deacon Place Sarasota, FL 34238 Phone Number: 941-927-1919 Representative: Rachel Neves Specialty: Commercial construction build outs and maintenance.

We provide guidance, assistance, and diligence from start to finish on your construction projects, with experience, maturity, and a willingness to help.

Email: rneves@sccsarasota.com

International Congress slated Sept. 22-23 The Sarasota Association of Realtors® International Real Estate Council presents the big annual Sarasota International Real Estate Congress on Sept. 22-23 at the Hyatt Regency Sarasota, 1000 Boulevard of the Arts.

The event begins with the Opening Reception & Happy Hour on Sept. 22 from 5 to 7 p.m. at the Hyatt Regency Sarasota Library.

On Sept. 23, Keynote Speaker John Tuccillo, real estate economist and industry consultant speaks on “Changing Domestic and International Real Estate Markets: New

AMENDMENTS From Page 10

support this amendment say incumbents, both Democrat and Republican, have traditionally drawn district boundaries to give themselves political advantage. Those that oppose this amendment say it would reduce minority representation, be difficult to implement and open the door to multiple lawsuits.

Amendment #7: Standards for Legislature to Follow in Legislative and Congressional Redistricting – Sponsor The Florida Legislature.

In 2010 the Florida Legislature concerned that Amendments 5 & 6 were unworkable crafted Amendment 7 which among other things said the state shall take into consideration the ability of racial and language minorities to participate in the political process and elect candidates of their choice when redrawing district boundaries. Amendment 7 has been removed from the November ballot, subject to a Supreme Court appeal.

Amendment #8: Revision of the Class Size Requirements for Public Schools – Sponsor - The Florida Legislature.

This proposed constitutional amendment would ease the state Constitution’s existing class size rules. Passed by voters in 2002, the Class Size Amendment sets a maximum number of students allowed in classrooms across the state. The new www.sarasotarealtors.com

Ways of Doing Business.” Other topics, presented by a diverse group of authoritative international speakers, will include: - Panel of Brokers & Builders moderated by Harold Bubil, Real Estate Editor, Herald Tribune - Where International Buyers are Coming From: Joe Kulenovic, Chief Economist, Enterprise Florida Visit www.sarasotarealtors.com for more details! There is still time to register for this international event, sponsored by various local business partners. proposal would raise the maximum allowable number of students per class by changing the calculation from per-class maximums to school-wide averages. The change would allow a school to be over the average in one class, provided that excess is balanced by another class at that school with fewer students than the allowable average.

Amendment #9: Health Care Services – Sponsor - The Florida Legislature.

This amendment would have prevented any government from requiring that individuals, employers or health-care providers participate in any health care program. The proposal specifically exempted programs already in effect, which would include Medicare and Medicaid. The proposal would have allowed patients to pay their health-care providers directly instead of going through a third-party insurer. Amendment 9 has been removed from the November ballot, subject to a Supreme Court appeal.

Referendum for 2010 Election: Balancing the Federal Budget – A Non-Binding Referendum calling for an Amendment to the United States Constitution.

The Florida Legislature has placed on the Nov. 2nd ballot a nonbinding resolution that asks voters if they support a constitutional requirement that the federal government balance its budget without raising taxes. The vote is symbolic, with the intent being to send a message to federal lawmakers that voters in Florida want an end to deficit spending.

Sarasota Realtor® Magazine

SEPTEMBER 2010

31

E DUCATION & E VENTS C ALENDAR

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

SEPTEMBER 2010

$350,0

$300,0

$250,0

$200,0

Monday

Tuesday

Wednesday

Thursday

Friday

$150,0

$100,0

6

SAR Closed (Labor Day)

Aug. 31

7

Sept. 1

7:30 a.m.

Toastmasters 9 a.m.

MLXchange Advanced 9 a.m. & 1 p.m.

Technology courses- Bonamer 1:30 p.m.

Design Web Page

8

9 a.m.

MLXchange Basic 1:30 p.m.

MLXchange Entering & Updating 5:30 p.m. SYR Social Mattison's on Main St

2

8 a.m.

Power Marketing (University Park CC)

9

8 a.m.

Power Marketing (SAR)

3

9 a.m.

CID Commercial Marketplace

$200, $150, $100, $50,

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15

16

7:30 a.m.

Toastmasters 9 a.m.

FAR/BAR Contract

8 a.m.

Power Marketing (SAR) 9 a.m. iMAPP 1:30 p.m.

Creating a CMA

20

21

22

9 a.m.

Creating a CMA 9:30 a.m. & 1:30 p.m.

ListingBook Liftoff 1:30 p.m. iMAPP 5 p.m.

International Congress Recep.

23 8 a.m.

Power Marketing (SAR) 9 a.m.

International RE Congress 10 a.m.

Photographer at SAR 11 a.m. & 3 p.m.

ListingBook Liftoff

24

27

28

29

30

Oct. 1

9 a.m.

MLXchange Basic 1:30 p.m.

MLXchange Entering & Updating

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

ListingBook Liftoff

8:30 a.m.

CID General Membership 11 a.m. & 3 p.m.

ListingBook Liftoff

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

ListingBook Liftoff 5 p.m.

Affiliate SocialPolo Grill

$500, $450, $400, $350, $300, $250,

10

13

9 a.m.– 4 p.m.

New Member Orientation & Code of Ethics

$50,0

9 a.m.

CID Commercial Marketplace

8 a.m.

Power Marketing (SAR)

17

9 a.m.

CID Commercial Marketplace-Off Site 11:30 a.m.

Annual Membership Meeting-Troyer’s Dutch Heritage

9 a.m.

CID Commercial Marketplace

9 a.m.

CID Commercial Marketplace

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

My Florida Regional MLS Training

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

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

Aug. 30

REO

Short

Arm's Length

$350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2007‐2ndQ 2007‐3rdQ 2007‐4thQ 2008‐1stQ 2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1

Condos Median Sale Price

REO

Short

2010‐Q2

Arm's Length

$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2007‐2ndQ 2007‐3rdQ 2007‐4thQ 2008‐1stQ 2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1

Single Family Sales ‐ By Quarter

REO

Short

2010‐Q2

Arm's Length

1200 1000 800 600 400 200 0 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2

Condo Sales ‐ By Quarter

REO

Short

Arm's Length

500 400 300 200 100 0 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 Source: 2009‐Q2 2009‐Q3 2009‐Q4 of2010‐Q1 2010‐Q2 Sarasota Association Realtors®

The Xtra Pages - Digital Version Only

Single Family Median Sale Price

New Listings

Single Family Condo

1,200 1,000 800 600 400 200 0 Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10 Mar‐10

Apr‐10 May‐10 Jun‐10

Jul‐10

Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10

Jul‐10

Months of Inventory 25.0 20.0 15.0 10.0 5.0 0.0 Jul‐09

Aug‐09 Sep‐09

Oct‐09 Nov‐09 Dec‐09

Jan‐10

9‐Jul

9‐Aug

9‐Sep

9‐Oct

9‐Nov

9‐Dec

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Single Family

9.0

10.3

9.8

9.3

9.4

8.1

11.5

10.6

7.2

7.3

7.2

6.6

10.4

Condo

16.9

20.5

15.1

15.0

14.6

12.3

14.7

15.4

11.8

9.9

9.7

10.9

14.4

Overall Sales Volume $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10 Jul‐10

Single Family $155,965,679 $93,852,581 $108,129,703 $106,634,831 $118,741,492 $138,311,391 $91,178,403

$90,615,651 $153,809,260 $154,066,294 $173,409,735 $155,762,590 $104,042,851

Condo

$43,400,202

$47,470,370

$37,933,125

$48,128,868

$46,426,400

$43,392,376

$56,455,335

$45,146,896

$67,589,008

$67,375,445

$65,727,253

$46,401,455

$34,172,704

Source: Sarasota Association of Realtors® MLS

Annual Sales ‐ 2000 to 2009 Single Family

Condo

Total

11267 10562 9697 8167 7,596 6533

7036

6,841

6,504

6739

6358

6042

5,603

5,183

4,940

4,626

4,353

4,349 3,193 2,184

2,096

5820

3,671

3,922

3,721

2,564

2,120

2,005

1,194

2000

2001

2002

2003

2004

2005

2006

2007

2008

1,556

2009

Annual Median Sale Price ‐ 2000 to 2009 Single Family $351,000 $305,000

$342,000

$336,250

$301,225

$303,000

Condo

$320,000

$272,500 $226,000

$230,000

$225,000

$210,000 $172,500 $142,000 $132,300

$145,000

2000

2001

$191,000 $173,000

$191,000

2002

2003

$160,000

2004

2005

2006

2007

2008

2009

Days on Market 300 200 100 0 Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10

Jul‐10

Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10

Jul‐10

Single Family

208

179

174

186

179

194

169

174

178

175

168

173

176

Condo

225

230

208

250

236

202

207

206

206

203

213

203

200

REO Sales ‐ By Quarter

Single Family Condo

600 500 400 300 200 100 0 2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2

Short Sales ‐ By Quarter 400 350 300 250 200 150 100 50 0

Single Family Condo

2007‐Q1 2007‐Q2 2007‐Q3 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2

Sarasota Association of Realtors® MLS