Sarasota Realtor Magazine - May 2010

MAY 2010

Visions on VideoAssociation launches new multimedia

web communication portalPage 6

Sarasota Realtor®Volume 7, Issue 5

MAY 2010

Sarasota Association of Realtors®, Inc.

3590 South Tuttle Avenue Sarasota, Florida 34239 Phone: 941/923-2315 FAX: 941/923-0191

www.sarasotarealtors.com

2010 OfficersPresident

Erick Shumway RE/MAX Alliance Group

President-Elect Michael Bruno

Prudential Palms RealtySecretary Roger Piro

Town & Country RealtyTreasurer

Laura Benson Michael Saunders & Company

Immediate Past President William Geller

RE/MAX Platinum RealtyChief Executive Officer

Kathy Roberts

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

Editorial Staff

Director of CommunicationsRay Porter

Director of Member ServicesDan Andrews

Director of MLS Information SystemsJesse Sunday

Director of Professional DevelopmentCatherine McCaskill

Governmental Affairs DirectorMarc Mansfield

ProductionCoastal Printing, Inc.

Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 or [email protected].

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.

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6 SAR TV Is Here! Final touches were made in April, and the newly rebranded Video Weekly Update launched on May 3rd, 2010 as SAR TV! Be sure to watch your weekly emails and the web site!

10 A Trip to Tallahassee Local real estate professionals visited the state capitol in early April for the annual Great American Realtor® Days event - a great opportunity to visit legislators and be heard.

12 Senior Benefits There are a number of exemptions available to local seniors when it comes to property appraisals, and Property Appraiser Bill Furst offers this informative explanation.

15 Sales Skyrocket! The March 2010 statistics were extraordinary, with the best sales in the local market since December 2005.

26 MFRMLS on Short Sales What are the MLS rules and regulations when it comes to Short Sales? Check out this MFRMLS review.

In every issue10- Governmental Affairs

12- Property Appraiser

14- Ethics in Action

15- Sales and Listing Statistics

18- Commercial Investment Division

20- Education Programs

25- On the SAR Scene

27- Broker Corner

28- WCR News

30- Membership News

32- Calendar of Events/Education

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

4 MAY 2010 Sarasota Realtor® Magazine www.sarasotarealtors.com

Jason Thurber is SARAffiliate of the Month

for May 2010

SAR seeks prospective leaders for 2011 and beyondIn just a few months, SAR members will vote to elect

the Officers and five new Directors to represent them in 2011, along with the Directors whose terms carry over.

Through our new leadership program and other efforts, SAR has been striving to identify and train new leaders that reflect the diversity of the SAR membership. Our business model is constantly evolving, adapting to new paradigms and anticipating what we need to do next in order to not only survive, but thrive, and remain a strong, viable organization and the Board of Choice for our members.

Would you, or someone you know, consider a nomination to one of the elected positions? During the three-year term, beginning January 1, 2011, one of your

most important responsibilities as a Director would be to participate in the development of policy and major decision-making at monthly Board meetings. Service on a committee or task force as well as participation in Association events are also key to being an effective leader.

We have posted information on our website to help guide you in this process. You can visit our website at www.sarasotarealtors.com and look for Leadership Nominations under Hot Topics on the front page If you wish to be considered as a candidate for the Board of Directors, or an officer, please send in the nomination form located on the site by May 14th. If you have questions, please contact Kathy Roberts, CEO, at 328-1170.

The May 2010 Affiliate of the Month is Jason B. Thurber.

A Rhode Island native, Jason relocated to Sarasota in 1993. He opened Integrity Mortgage Group, Inc., in 1996 and remains its President and Principal Broker

Jason has more than 15 years of FHA/VA and Conventional lending experience, in addition to a 20-year background in consulting on real estate, construction, and budgeting. Jason takes great pride in providing the highest level of advice and service for his clients while striving to always live up to the company’s name - Integrity Mortgage Group.

Jason B. Thurber

Thaxton to speak at second SAR quarterly meetingThe second 2010 SAR Quarterly Meeting has been set

for Friday, July 16th with lunch at noon at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Street, Sarasota.

The main speaker will be Sarasota County Commissioner Jon Thaxton, who will update SAR members regarding the controversial Amendment 4 proposal coming up on the November 2010 election ballot. SAR has joined various other local and statewide organizations in opposition to the amendment.

Commissioner Thaxton has publicly renounced the Amendment 4 proposal as a misguided attempt to control growth. A veteran of growth management issues for more than two decades, Thaxton has emerged as a vocal opponent of the amendment.

In addition to the main program, various awards will be handed out during the event. Several Realtor® Emeritus designees will be honored and presented with special pins by SAR President Erick Shumway.

The four SAR Scholarship award winners will be invited to the event. Each award is for $2,000, with two students chosen from the public (non-SAR related) and two from SAR member families.

SAR will also recognize Florida Realtor® Honor Society award winners. Finally, the graduates of the SAR Leadership Program will be recognized.

Registration for the event will begin in June, so be sure to watch the Weekly Update and the SAR web site for more details.

www.sarasotarealtors.com Sarasota Realtor® Magazine MAY 2010 5

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Editor’s Note: The Video Age has definitely arrived, thanks in large part to the burgeoning popularity of Internet sites YouTube, Facebook, Google and many more that put the messages into easy-to -digest video snippets. NAR and Florida Realtors® have joined the cutting edge movement, and now SAR has put video at the forefront of the 2010 communication strategy.

Since mid-December 2009, SAR has produced a weekly Internet-based video and distributed it by email and through our web site. During the first quarter of 2010, we have refined and further developed the initial concept, and on May 3rd the launch of SAR TV revealed where this vision has led us.

Communication is certainly a vital element of our association, impacting virtually every area of interactions with our members, both Realtors® and Affiliates. The first newsletter, printed on association printers, was replaced in 2004 by a 32-page four-color, glossy monthly magazine, published and distributed by direct mail. The magazine was posted on our web site as a PDF version beginning in 2005, and another step forward was taken in 2009 with the first flip-leaf digital magazine, also on the web site. We are now offering members a choice of receiving a digital magazine only (in lieu of a physical mailing).

We refined the SAR web site in 2006, and have made frequent enhancements and modernizations to the web portal. The Weekly Update email, sent to members through Constant Contact on Monday afternoons, also began in 2006 and remains an extremely cost-effective method of keeping our members informed.

An SAR Facebook page and Twitter presence launched in 2009, and these new communication avenues have taken on a life of their own, reaching even more of our members in a new, high-tech way.

Now, video communication has been added to the mix in a major way. None of these various platforms for communication has replaced the others (with the exception of the magazine replacing the newsletter). Each platform is meant to augment and enhance the others, and allow us to reach our members in as many ways as our members are communicating.

SAR started down the road of video production on a shoe-string budget, and we continue to closely monitor expenses in this area. Fortunately, with the maturation of web-based video, our costs have been kept to a bare minimum. Video equipment costs have dropped

tremendously in recent years, and hosting of videos is provided free of charge through Facebook. Software used to produce the videos was purchased for less than $100, and lighting and a green screen was also very economical. We are presently refining the audio side of the productions, and through Jesse Sunday, or in-house videographer, SAR is constantly staying abreast of the latest video tools and tricks of the trade.

The launch of SAR TV is the beginning of the next phase of this evolution. This web page within our current site at www.sarasotarealtors.com/SARTV

The page includes links to all of the SAR-produced videos, plus links to videos produced by the National Association of Realtors® (known as Realtor® TV) and Florida Realtors®). We are also constantly looking for other informative and educational videos to add.

This is a one-stop shop for all things video that relate to real estate, and it is all being provided at no additional cost to our membership.

But the video age isn’t just an observational platform for our members - it is highly interactive! We are continually seeking member participation in our weekly productions, from our committee chairs and members, to our leadership and directors, from Affiliates to brokers - everyone is part of the team, and if you’re a part of SAR, you’ll probably see your face and hear your voice on one or more of our videos!

We are also very open to ideas, suggestions, comments, and even criticisms. The recommended refinements so far have resulted in a shorter weekly video (down from 10 minutes to about 3 to 4 minutes), a greater variety of presenters, more light-hearted humor (although we diligently strive to maintain professional decorum and overall tone) and a greater emphasis on what SAR is planning for our members in the near future.

Be sure to visit our web site on Monday, May 3rd, or click on the link contained in the May 3rd Weekly Update email and watch SAR TV! We hope you enjoy the experience, and stay tuned as we make even greater enhancements in 2010 and beyond!

SAR TV Has Launched!Internet video multimedia communication helps get the word out


RiddellLaw Group

KNOWYOUR OPTIONS

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3400 S. Tamiami Trail, Sarasota, Floridawww.toomuchdebtsarasota.com

Short SalesForeclosuresBankruptcy

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.

Jefferson F. Riddell, Esq.(Board Certified Real Estate Attorney)

Cynthia A. Riddell, Esq.

Call For AFREE CONSULTATION

941-366-1300

PowerDirector 8.0 (top two screen shots) is utilized to produce the SAR videos now posted at the SAR TV web page. You’ll also find links to Realtor® TV videos, as well as those produced by Florida Realtors®, in addition to other real estate-related videos from the Internet.

hProperly dispose of hazardous household waste

How many times have you seen a garage, shed or utility room full of paint, fluorescent lamps, electronics and old chemicals at a listed property? Many of us have these same items at our homes, or we have seen them at homes of our real estate clients.

According to Alison Eggleston of Sarasota County’s Environmental Services and Hazardous Waste Management department, these and many more are collectively called household hazardous waste. They should not be poured down the drain or on the ground, or thrown out in the garbage. Sarasota County residents are able to dispose of these items for free at one of the county’s three Household Chemical Collection Centers.

All too often with the higher numbers of foreclosures, these wastes are left behind for the new owners. The county hazardous waste staff recommends the homeowner clean out all the old products or wastes from the property prior to sale. But when banks become the owners, this can become more difficult.

Not only are these an environmental hazard, Eggleston noted, but they also pose a potential health hazard. Passing the wastes from one person to another exacerbates the problem.

“Should a property not have a homeowner involved, such as in the situation of a bank-owned foreclosure property, then many times either a handyman is hired or a Realtor® offers to help clean up the property,” said Eggleston. “Whenever the wastes are being managed by someone other than the homeowner, this process then becomes a business transaction, and while the waste may still be brought to the county for disposal it may no longer be disposed of for free.”

Unfortunately, the good intentions of a Realtor® or a business person simply trying to make a living can end up creating a confusing and frustrating situation.

When a person who is not the homeowner disposes of the waste, the program called Project Green Sweep gets involved. For more information, please call 861-5000 and ask for the Project Green Sweep Program. More information may also be found online: www.sarasotarealtors.com/GreenSweep.pdf

The following is a list of some of the wastes found at residential properties that require special disposal:

• Aerosol cans with contents: from hair spray to carburetor cleaner

• Automotive fluids; used, contaminated or otherwise unusable; antifreeze, gasoline, oil, and other engine/transmission fluids or additives

• Batteries: lead acid (i.e. automotive, lawn mower), rechargeable (cell phone, power tools, camera, etc), button cell batteries from hearing aids and watches

• Electronics; TVs, computers, cell phones, etc

• Fertilizer• Fluorescent light bulbs and ballasts• Herbicides• Household cleaners• Medications or pharmaceuticals • Mercury-containing items (i.e. HVAC thermostats,

thermometers, barometers, etc.)• Paints• Pesticides• Pool chemicals • Propane Tanks• Oil filters• Solvents: xylene, paint thinner, acetone, furniture strippers,

etc.• Any other “unknown” item (let us make the determination

if it is hazardous)


hEditor’s Note: This update is brought to you by the SAR Realtor®-Attorney Joint Committee. This month’s column is provided by Julie Horstkamp, Esq., of Berlin-Patten, PLLC.

How does the Home Affordable Foreclosure Alternatives (HAFA) program apply to your clients and what is required?

HAFA was formed to provide a uniform process, deadlines, model forms with closing costs and net proceeds being approved up-front. Home Affordable Modification Program (“HAMP”) servicers must participate and adopt written guidelines under HAFA. HAFA’s objective is to help HAMP eligible borrowers avoid foreclosure.

Currently, HAFA only applies to first lien mortgages that are not owned or guaranteed by Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA, or a private label loan like E-trade or H&R Block.

Who is eligible to participate in HAFA? Basically, HAFA only applies to borrowers that qualify under HAMP meeting the following qualifications:

1. The property must be their primary residence, or vacant due to relocation or new employment;

2. Mortgage must have originated prior to January 2009;3. Borrower is delinquent or default is reasonably

foreseeable;4. Current outstanding principal balance does not exceed

$729,750.00; and5. Borrower’s total monthly mortgage payment exceeds 31

percent of Borrower’s gross monthly income.If eligible, servicers have to consider the borrower for HAFA

within 30 calendar days after the first to occur, borrower: (1) doesn’t qualify for HAMP trial plan; (2) misses two (2) or more HAMP payments; (3) requests short sale or a deed-in-lieu (“DIL”); or (4) fails to successfully complete HAMP trial plan. The servicer must determine minimum acceptable net

proceeds the investor will accept. Once the borrower is approved under HAFA, the servicer will send the borrower the Short Sale Agreement (“SSA”). The borrower must sign and return to the servicer within fourteen (14) days of the effective date of SSA, along with a copy of the listing

agreement if acceptable. The SSA contains the minimum acceptable net proceeds and maximum closing costs allowed, and the Borrower has 120 days to sell the property.

Upon obtaining a contract that meets the SSA terms, the contract must be submitted within three (3) days from receipt, along with the Request for Short Sale Agreement (“RSSA”), the SSA, Buyer’s proof of funds documentation or pre-approval from Bank on Bank’s letterhead, and preliminary HUD for approval to the servicer. The servicer must issue approval within ten (10) business days, with closing to occur no earlier than forty-five (45) days thereafter unless the parties agree to an earlier closing date.

In the event the borrower receives a contract prior to qualifying under HAMP and HAFA, the borrower can still go through HAFA by submitting an Alternative Request for Short Sale (“Alternative RSS”), the contract, listing agreement and preliminary HUD. The servicer must then determine if the borrower qualifies for HAMP, and if so determine the minimum acceptable net proceeds just like the normal HAFA approval process listed in the preceding paragraph.

We recommend you contact a real estate attorney for proper guidance if there are any questions.

Who is eligible to participate in HAFA?


SAR participates in Great American Realtor® Days at the Florida Capitol

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Led by SAR President Erick Shumway, several members of SAR and yours truly joined approximately 1,000 Realtors® from across the state to storm the Capitol on April 6th and April 7th to encourage our elected officials to move quickly on issues important to all Realtors®.

During our two day stay, SAR met with Representatives Keith Fitzgerald and Doug Holder and Senator Nancy Detert. While budget, education and the proposed gambling compact were on the minds of everyone, Realtors® reminded legislators that work still needed to be done on Realtor® priorities for 2010 which include the following:

Property Tax: Make Florida more attractive to first-time buyers, out-of-state buyers and business owners with property tax incentives for first time Florida homesteaders and assessment relief for non-homesteaded properties. SJR 1254/HJR 655 would offer a property tax break for all persons applying for a Florida homestead exemption for the first time beginning in 2011, even if they have owned a home in another state. The measure would also lower the assessment cap on non-homestead property from 10 percent to 5 percent per year.

Property Insurance: Repeal the windstorm mitigation rating disclosure set to take effect January 1, 2011. The disclosure fails to provide buyers with accurate information about a property’s ability to withstand hurricane force winds. Windstorm inspectors are not certified and studies show their inspections yield inaccurate ratings 55-80 percent of the time. Support SB 2190/HB 545.

Housing and the Economy: This is the year to “scrap the cap” on the Sadowski Affordable Housing Trust Fund. Economists expect documentary stamp taxes to generate approximately $194 million in FY 2010-2011, which could provide housing to thousands of families, create more than 13,000 jobs and result in a $1.3 billion boost to local and state economies.

Appraisal Management Companies: Protect buyers and sellers from inaccurate home valuations by requiring appraisal management companies (AMCs) to register with the Department of Business and Professional Regulation. AMCs control virtually all appraisal assignments in Florida. Many times, they exert improper influence on appraisers, which can lead to mortgage fraud. Registration is needed if fraud is to be prevented. Support HB 303/SB 1552 & SB 2210.

Great American Realtor® Days provides an opportunity for Realtors® to get up close and personal with area legislators. If you have not participated in this event I strongly encourage you to do so next year.

High percentage of SAR members voted in March 16th special school tax election!

Voter registration and voter participation is a key goal in SAR’s annual strategic plan. On March 16th a special election (referendum) was held on continuation of the current school millage tax. The voter turnout county wide was 27 percent. SAR voter participation was an incredible 39 percent. Congratulations and Thank You to all SAR members who voted on March 16th.

By Marc MansfieldGovernmental AffairsDirector

The SAR contingent in Tallahassee for Great American Realtor® days, April 6-7, included (from left) Lee DeLieto, Jr., Erick Shumway, Nick Figlow, Marc Mansfield, Michael Bruno and Bill Geller.


NAR: New health plan helps Realtors®The National Association of Realtors®

(NAR) has a history of working with Congress to secure changes in the U.S. healthcare system.

As the national voice for a profession of predominantly self-employed workers in which 28 percent have no health coverage, NAR has worked to make health care available and affordable for members.

While the health insurance issue remains politically charged and court challenges to the new law are inevitable, the bill, signed into law by President Obama, contains some protections that Realtors® have requested. Not all benefits kick in immediately.

Those benefits include:• Who is covered. The new health care

rules apply to individuals and families not already covered by an employer, self-employed individuals and families, and owners and employees of small businesses (those with 100 employees or less).

• Acceptance. Health insurance applicants cannot be turned down.

• Cancellation. People already covered by a health insurance policy cannot be cancelled.

• Pre-existing conditions. A common complaint among those without insurance was an inability to secure coverage if they had a pre-existing condition, which could be as simple as taking blood pressure drugs or insulin. Under the new law, insurers must cover all applicants even if they have a pre-existing condition.

• Waiting periods. In addition to covering pre-existing conditions, insurers cannot accept an applicant but force him/her to wait a long time before coverage kicks in for that pre-existing condition.

• Past claims. A history of past health claims cannot be used to charge more for coverage.

• Women. Insurers cannot charge women more than men.

• Older people. Insurers are limited on how much they can charge older adults. Prior to the new law, some insurers agreed to cover older adults but sometimes quoted high monthly premiums for doing so.

NAR maintains a website page with information on the recently passed legislation. The page also includes background information and answers questions about other health care concerns shared by Realtors®.

Visit www.realtor.org.

The SAR contingent meets with Florida State Sen. Nancy Detert (fourth from right) during the two-day trip to Tallahassee for Great American Realtor® Days. Several issues important to the real estate industry were brought to the attention of legislators during the annual sojourn to the capitol. Pictured are (back row) Gae Stewart, Rory Dubin, Marc Mansfield, Michael Bruno, Erick Shumway, Bill Geller, Nancy Detert, Tom Sponaugle, Nick Figlow and Darla Furst; (front row) Lee DeLieto, Jr. and Helen Moore.


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iser In Sarasota County, maturity has its

property benefits - senior exemptions

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

According to the Florida Department of Elder Affairs website, 3,238,423 people aged 65 and older called Florida home in 2008. That’s almost 17 percent of Florida’s total population. In 2008, 121,958 people over 65 made their home in Sarasota County. That’s 31 percent of our population! (See more info at http://elderaffairs.state.fl.us

Our citizens over 65 contribute significantly to the quality of life in our community with experience, perspective and service.

In 1998, Floridians acknowledged those contributions by approving Article VII, s. 6(d), of the Florida Constitution, allowing counties and municipalities to grant up to $50,000 in additional exemptions to income qualified homesteaders who are 65 and older and apply for the exemption by March 1 of each year.

Income qualified means that the total adjusted gross income of all residents of the homestead cannot exceed an amount published by the Department of Revenue every January. This year the adjusted gross income limit was $25,780.

The Sarasota County Commissioners have adopted a Senior Exemption amount of $5,000. This exemption applies to county tax levies and is available to all qualified residents of Sarasota County, in

addition to any Senior Exemption granted by the municipality in which they live.

The City of Sarasota and the Town of Longboat Key have each adopted a Senior Exemption amount of $25,000 that applies to the tax levies of those municipalities. The City of Venice and the City of North Port have not adopted a Senior Exemption. The following table shows the estimated tax savings resulting from this exemption based on 2009 millage rates and the potential tax savings that could be realized if the maximum exemption was granted (See Chart Below).

The benefits offered to qualified seniors vary from county to county. Charlotte County and its municipalities do not offer a Senior Exemption. Manatee County offers a $25,000 exemption, with the towns of Anna Maria, Longboat Key, Holmes Beach, and Bradenton Beach each offering a $25,000 exemption for their tax levies. Desoto County has adopted the maximum $50,000 exemption amount on county levies. The City of Arcadia had not adopted a Senior Exemption.

And then there’s the so-called “Granny Flat” provision of the Constitution, Article VII, s. 4(f ), approved in 2002.

That amendment allows counties

By Bill Furst, GRI, CRS, CRBSarasota County Property Appraiser

MATURITY HAS ITS BENEFITS! According to the Florida Department of Elder Affairs website, 3,238,423 people aged 65 and older called Florida home in 2008. That’s almost 17% of Florida’s total population. In 2008, 121,958 people over 65 made their home in Sarasota County. That’s 31% of our population!* Our citizens over 65 contribute significantly to the quality of life in our community with experience, perspective and service. In 1998 Floridians acknowledged those contributions by approving Article VII, s. 6(d), of the Florida Constitution, allowing counties and municipalities to grant up to $50,000 in additional exemptions to income qualified homesteaders who are 65 and older and apply for the exemption by March 1 of each year. Income qualified means that the total adjusted gross income of all residents of the homestead cannot exceed an amount published by the Department of Revenue every January. This year the adjusted gross income limit was $25,780. The Sarasota County Commissioners have adopted a Senior Exemption amount of $5,000. This exemption applies to county tax levies and is available to all qualified residents of Sarasota County, in addition to any Senior Exemption granted by the municipality in which they live. The City of Sarasota and the Town of Longboat Key have each adopted a Senior Exemption amount of $25,000 that applies to the tax levies of those municipalities. The City of Venice and the City of North Port have not adopted a Senior Exemption. The following table shows the estimated tax savings resulting from this exemption based on 2009 millage rates and the potential tax savings that could be realized if the maximum exemption was granted: Taxing Adopted Current Potential Tax Savings Authority Exemption Tax Savings for $50,000 Exemption Sarasota County $5,000 $20 $200 City of Sarasota $25,000 $79 $158 Longboat Key $25,000 $54 or $43 $108 or $86 Venice 0 0 $150 North Port 0 0 $167 The benefits offered to qualified seniors vary from county to county. Charlotte County and its municipalities do not offer a Senior Exemption. Manatee County offers a $25,000 exemption, with the towns of Anna Maria, Longboat Key, Holmes Beach, and Bradenton Beach each offering a $25,000 exemption for their tax levies. Desoto County has adopted the maximum $50,000 exemption amount on county levies. The City of Arcadia had not adopted a Senior Exemption. And then there’s the so‐called “Granny Flat” provision of the Constitution, Article VII, s. 4(f), approved in 2002. That amendment allows counties to provide for a reduction of the assessed value of homestead property resulting from the construction or reconstruction of living quarters for the 62‐years‐of‐age‐or‐older parent/s or grandparent/s of the homestead owner, provided that the parent/s or grandparent/s are not claiming a residency linked tax benefit in any other state or Florida county. The value reduction applies to all taxing authorities in the county, cannot exceed 20% of the total assessed value of the homestead, and applies only to construction or reconstruction that occurred after January 7, 2003, the effective date of the legislation implementing Article VII, s. 4(f). Currently, of Sarasota and its surrounding counties, only Manatee County offers the “Granny Flat” benefit.

*http://elderaffairs.state.fl.us

Articles, Statutes and Rules Governing Senior and “Granny Flat” Exemptions Senior Exemption: Florida Constitution, Article VII, section 6(d)), approved November 3, 1998 §196.075 Florida Statutes, enacted July 1, 1999 implements A.VII s. 6(d), allowing an exemption up to $50,000 for qualified applicants when adopted by a county or municipality. Chapter 12D‐7.0143, Florida Administrative Code, adopted December 30, 1999: rules for applying the exemption. “Granny Flat” Exemption: Florida Constitution, Article VII, section 4(f), approved November 4, 2002 §193.703 Florida Statutes, effective January 7, 2003 implements A, VII s. 4(f) stating qualification and application requirements for the value reduction when adopted by a county. Chapter 12D‐8.0068 Florida Administrative Code, adopted January 26, 2004: rules for applying the value reduction.

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

MATURITY HAS ITS BENEFITS! According to the Florida Department of Elder Affairs website, 3,238,423 people aged 65 and older called Florida home in 2008. That’s almost 17% of Florida’s total population. In 2008, 121,958 people over 65 made their home in Sarasota County. That’s 31% of our population!* Our citizens over 65 contribute significantly to the quality of life in our community with experience, perspective and service. In 1998 Floridians acknowledged those contributions by approving Article VII, s. 6(d), of the Florida Constitution, allowing counties and municipalities to grant up to $50,000 in additional exemptions to income qualified homesteaders who are 65 and older and apply for the exemption by March 1 of each year. Income qualified means that the total adjusted gross income of all residents of the homestead cannot exceed an amount published by the Department of Revenue every January. This year the adjusted gross income limit was $25,780. The Sarasota County Commissioners have adopted a Senior Exemption amount of $5,000. This exemption applies to county tax levies and is available to all qualified residents of Sarasota County, in addition to any Senior Exemption granted by the municipality in which they live. The City of Sarasota and the Town of Longboat Key have each adopted a Senior Exemption amount of $25,000 that applies to the tax levies of those municipalities. The City of Venice and the City of North Port have not adopted a Senior Exemption. The following table shows the estimated tax savings resulting from this exemption based on 2009 millage rates and the potential tax savings that could be realized if the maximum exemption was granted: Taxing Adopted Current Potential Tax Savings Authority Exemption Tax Savings for $50,000 Exemption Sarasota County $5,000 $20 $200 City of Sarasota $25,000 $79 $158 Longboat Key $25,000 $54 or $43 $108 or $86 Venice 0 0 $150 North Port 0 0 $167 The benefits offered to qualified seniors vary from county to county. Charlotte County and its municipalities do not offer a Senior Exemption. Manatee County offers a $25,000 exemption, with the towns of Anna Maria, Longboat Key, Holmes Beach, and Bradenton Beach each offering a $25,000 exemption for their tax levies. Desoto County has adopted the maximum $50,000 exemption amount on county levies. The City of Arcadia had not adopted a Senior Exemption. And then there’s the so‐called “Granny Flat” provision of the Constitution, Article VII, s. 4(f), approved in 2002. That amendment allows counties to provide for a reduction of the assessed value of homestead property resulting from the construction or reconstruction of living quarters for the 62‐years‐of‐age‐or‐older parent/s or grandparent/s of the homestead owner, provided that the parent/s or grandparent/s are not claiming a residency linked tax benefit in any other state or Florida county. The value reduction applies to all taxing authorities in the county, cannot exceed 20% of the total assessed value of the homestead, and applies only to construction or reconstruction that occurred after January 7, 2003, the effective date of the legislation implementing Article VII, s. 4(f). Currently, of Sarasota and its surrounding counties, only Manatee County offers the “Granny Flat” benefit.

*http://elderaffairs.state.fl.us

Articles, Statutes and Rules Governing Senior and “Granny Flat” Exemptions Senior Exemption: Florida Constitution, Article VII, section 6(d)), approved November 3, 1998 §196.075 Florida Statutes, enacted July 1, 1999 implements A.VII s. 6(d), allowing an exemption up to $50,000 for qualified applicants when adopted by a county or municipality. Chapter 12D‐7.0143, Florida Administrative Code, adopted December 30, 1999: rules for applying the exemption. “Granny Flat” Exemption: Florida Constitution, Article VII, section 4(f), approved November 4, 2002 §193.703 Florida Statutes, effective January 7, 2003 implements A, VII s. 4(f) stating qualification and application requirements for the value reduction when adopted by a county. Chapter 12D‐8.0068 Florida Administrative Code, adopted January 26, 2004: rules for applying the value reduction.

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


With short salenegotiations,there aremanyproblemsandissues thatmayarise;manyyoumaynever see coming.

Sobeforeyou leap into ashort salenegotiation,consultwithattorneyStevenR.Greenberg.

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to provide for a reduction of the assessed value of homestead property resulting from the construction or reconstruction of living quarters for the 62-years-of-age-or-older parent/s or grandparent/s of the homestead owner, provided that the parent/s or grandparent/s are not claiming a residency linked tax benefit in any other state or Florida county.

The value reduction applies to all taxing authorities in the county, cannot exceed 20 percent of the total assessed value of the homestead, and applies only to construction or reconstruction that occurred after January 7, 2003, the effective date of the legislation implementing Article VII, s. 4(f ). Currently, of Sarasota and its surrounding counties, only Manatee County offers the “Granny Flat” benefit.

In 2008, 121,958 people over 65 made their home in Sarasota County. That’s 31

percent of our population!


oiIf you didn’t have a role in the transaction, don’t make it appear that you did.

Question: I recently acted as the listing agent for a neighbor who was selling her home. The buyer was represented by a salesperson from a different company.

After the transaction closed, a third real estate practitioner who had no part in the deal mailed a “Just Sold” flyer to households in the neighborhood. The flyer contained information about the house and the public synopsis from the MLS, along with that real estate practitioner’s contact information and an advertisement for his business. A letter accompanying the flyer also made it appear that he was the broker responsible for the sale, although he didn’t say that explicitly. Is this a Code of Ethics violation?

Answer: The key concept is whether or not the advertising presents a “true picture.” Article 12 of the Code says “Realtors® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.” Standard of Practice 12-7 amplifies the “true picture” test. “Only Realtors® who participated in the transaction as the listing broker or cooperating broker (selling broker) may claim to have ‘sold’ the property.”

If the flyer and letter would lead a reasonable consumer to believe the Realtor® who sent the flyer actually “sold” the property, then likely it’s a violation of the Code. Although sold properties and (usually) their sale price are public record, that doesn’t allow Realtors® to claim to have “sold” the property if they weren’t the listing or cooperating broker.

This standard also applies to newsletters. Case Interpretations 12-12 and 12-13 allow Realtors® to publish a list of sold properties in a “neighborhood newsletter” as long as that publication is consistent with local MLS rules and it’s clear to reasonable readers that Realtors® aren’t claiming to have sold any property where they weren’t either the listing or selling broker. Remember, the essence of Article 12 is “truth in advertising!”

Don’t Advertise It Without ‘Authority’ Presenting a true picture in advertising, marketing, and

other representations is the key concept in the Code of Ethics.

Question: Would it be ethical for me to advertise a

property that appears in the multiple listing service even if I’m not the listing agent? I’d like to include information about a particular property in a newspaper ad. But I’m wondering if I need to first contact the listing broker for permission?

Answer: Yes, you do. There are a couple of issues to consider here. When it comes to advertising, the key concept in the Code of Ethics is the “true picture” test. Article 12 of the Code says, “Realtors® shall be honest

and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.”

Standard of Practice 12-4 goes one step further and requires “authority” to advertise a listing: “Realtors® shall not offer for sale/lease or advertise property without authority.”

Where does “authority” to advertise a listing come from? It starts with sellers giving the listing broker permission to advertise and market their property. That authority is generally established in the listing agreement. The listing broker may have been given authority in the listing agreement to allow other brokers to advertise as well.

But just because the property appears in the MLS doesn’t mean that other brokers have any right or authority to advertise the listing in a newspaper or in other media, absent permission from the listing broker.

It should be noted that Internet Data Exchange rules of Realtor® association–owned and –operated MLSs enable listing brokers to give other participants blanket authority to advertise the listing broker’s listings on their Web sites. However, the authority granted under IDX rules does not apply to other media such as newspapers.

Improper marketing can get you in troubleBy Bruce AydtRealtor® Magazine Online

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oProperty sales skyrocket in March 2010;local real estate market appears strong

Overall property sales reached 753 in the Sarasota market in March 2010, the highest total since December 2005 and more than 56 percent higher than March 2009. Pending sales were also robust, standing at 1,060 - the highest total in the past four years. But perhaps the most telling statistic was that the median sale price for both single family homes and condos rose in March from the previous month, and prices were much higher than in March 2009.

Members of the Sarasota Association of Realtors® sold 555 single family homes and 194 condos in March 2010, a huge jump over March 2009, which saw only 353 single family homes and 128 condos sold. Pending sales, at 1,060, were about 30 percent higher than last March, when only 817 were reported. This statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity. This also reflects the continuing push of SAR members in the early spring months to qualify clients for homebuyer tax credits, which expire on April 30th.

Median sale prices in the Sarasota real estate market were also up in March 2010 for both single family homes and condos. The median sale price for a single family home was $170,000, up 13.3 percent from February’s $150,000, and up 11 percent over last March’s figure of $152,125. For condos, the median price rose to $210,000 from last month’s level of $169,000, a 24 percent increase. Last year at this time, the condo median sale price was $166,750. For the last 12 months combined, the median sale price for single family homes was $162,950, while the median sale price for condos was $190,000.

The level of distressed property sales dropped in March 2010 to 41 percent of the overall market, compared to 47 percent of the overall market in February 2010. This was another encouraging sign as the spring continued to heat up the local housing market. The downward trend in the percentage of short sales and bank-owned foreclosure sales in the Sarasota market, if it continues, would be a harbinger

of a market in full recovery, and should bring greater appreciation for the overall median sale prices.

“This was the best month we have had in four and a half years, and the numbers are very encouraging for our local real estate market,” said 2010 SAR President Erick Shumway. “Local Realtors® have obviously educated their clients on the pending expiration of the homebuyer tax credits, and this has certainly helped promote sales. But we have also seen resurgence in sales across the price spectrum – not just for first-time buyers. Hopefully, the continuing growth in our nation’s economy will propel this market even higher this year.”

The property inventory level remained steady in March 2010 at 6,342, only slightly higher than February’s total of 6,329 properties on the market. The inventory is still at the lowest level since late summer of 2005.

The months of inventory for single family homes was 7.2 months, the number of months it would take to sell all available homes at the current pace. This was a huge drop from February 2010’s number - 10.6 months – and very near equilibrium. Last year at this time, the months of inventory was 17.1 for single family homes. Once the market reaches the 6 month level it is considered to be in equilibrium between buyers and sellers. For condos, the months of inventory level was 11.8 months, the lowest level in several years, and far lower than the 21.2 months only a year ago.

Delving deeper into the statistics, homes in the lower price ranges have actually entered a “seller’s market,” with the month’s inventory supply at only 4.8 months for homes sold between $60,000 and $70,000 so far in 2010, and only 6.6 months for homes sold between $120,000 and $139,999 in 2010. This is a likely reflection on the homebuyer tax credit of $8,000 for first-time homebuyers.

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“This was the best month we have had in four and a half years.” - SAR

President Erick Shumway

Bill Trier 941.586.6372

[email protected]

Kevin Silvestri941.809.5893

[email protected]

www.SRQHomeWatchServices.com


Sarasota MLSSM Statistics March 2010 Sarasota MLSSM Statistics March 2010

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of April 12th, 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®

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Single FamilyCondoMedian Sale Price

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 3,999 555 13.8 178 $170,000 $162,950 7.2 769 19.2 961 204

This Month Last Year

6,042 353 5.8 160 $152,125 $217,000 17.1 642 9.7 881 451

Last Month 4,031 379 9.4 174 $150,000 $160,000 10.6 701 17.4 868 224

YTD ‐ 1360 ‐ 175 $157,250 ‐ ‐ 2,043 ‐ 2,843 ‐

Single Family – Sale Price Vs. List Price % Rates Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec

2009 93.0 93.1 92.5 92.4 93.2 93.8 93.2 93.6 94.2 94.4 94.1 94.2 2010 94.4 92.8 95.2 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐


Sarasota MLSSM Statistics March 2010 Sarasota MLSSM Statistics March 2010

Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transac-tions 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

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#Active #Sold %Sold Average DOM

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Pending Reported

%Pending # New Listings

# Off Market

This Month 2,343 198 8.5 206 $210,000 $190,000 11.8 291 12.4 388 197

This Month Last Year

2,714 128 4.7 186 $166,750 $256,000 21.2 175 6.4 345 269

Last Month 2,298 149 6.5 206 $169,000 $185,000 15.4 266 11.6 326 255

YTD ‐ 462 ‐ 206 $194,950 ‐ ‐ 804 ‐ 1,102 ‐

Condo – Sale Price Vs. List Price % Rates Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec

2009 91.0 90.2 90.4 92.2 90.1 91.4 92.1 92.4 91.5 92.4 92.3 93.1 2010 92.5 92.4 92.5 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐


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n) Great American Realtor® Days Road TripTallahassee visit was a great opportunity to interactBy Lee DeLieto, Jr.2010 CID President

For many of us, the term “road trip” conjurs up many different and exciting memories. Normally they bring us back to a time in college when all we cared about was socializing (partying) and not getting into trouble (arrested).

Personally speaking, I think I have matured just enough to stop pushing the limits of the law, but I can’t help but find myself in the midst of the social media Facebook hype.

Those of you who have befriended me will typically find my girlfriend Valarie’s scrumptiously mouth-watering meals posted nightly. But my most recent Facebook postings were more business in nature.

In addition to being President of CID, I also wear another hat as Chair for the SAR Public Policy Committee. With this seat, I was fortunate to be a part of the troop invited to attend this year’s Great American Realtor® Days.

As a newbie to this excursion, it suddenly occurred to me as we waited for the plane just how impressive a group I was a part of - all past, present or future Presidents of our Association: Judy Schomaker, Nick Figlow, Bill Geller, Erick Shumway, and Mike Bruno. And later in the day we were joined by Darla and Bill Furst. Maybe this is telling of my future. And not to forget our amazing staff liaison, Marc Mansfield. Time and time again Marc’s attention to detail and guidance sets the bar and makes us look good. With Marc’s shared work with the Venice board, he was able to draw in a larger audience with board officers, Gae Stewart Tom Sponaugle and Rory Dubin. Marc, by the way, has written a piece on the actual issues we discussed in Tallahassee (See Page 10).

The intention of GARD, for those not familiar with the event, is a massive pilgrimage to Tallahassee to converge on the state’s capitol and meet with our local representatives.

Even though we were gone for only two days, both days were action packed. The following should give you an idea as to how efficient a schedule we were on:

Day One: Due to limited direct flights out of Tampa, we had to meet up locally at 7:30 a.m. Tuesday morning; carpool to Tampa Airport and check in at 8:30 a.m.; get through security by 9:30 a.m. (note to self, don’t carry large bottles of mouthwash; TSA doesn’t like that); walk out on the tarmac to our twin prop puddle jumper at 10:40 a.m.; arrive in Tallahassee

at 11:40 a.m.; taxi to the hotel to drop our luggage at noon (note to self, pack lighter); walk to registration, 12:20 p.m.; lunch, 1 p.m.; Orientation, 2 p.m.; check into rooms, 3 p.m.; block party, 5 p.m.; open bar, 5:05 p.m.; video of Nick dancing 6:30 p.m.; (this is where time warps for some of us); sleep.

Day Two: Breakfast, 7 a.m.; check out of hotel, 8:30 a.m.; meet with Representative Keith Fitzgerald, 9:30 a.m.; meet with Senator Nancy Detert, 10:15 a.m.; meet with Representative Doug Holder, 11:15 a.m.; lunch Noon; taxi to airport, 1:30 p.m.; check in 2 p.m.; hang out at airport bar, 2:15 p.m.; board flight out, 4:25 p.m.; arrive in Tampa, 5:20 p.m.; arrive back in Sarasota, 6:30 p.m.; home for hugs from Val and our Chihuahua, Desi, 7:15 p.m.

It does make one wonder why we would blaze through a 36 hour schedule such as above only to truly have less than two hours of quality meeting time to sit down and talk with our representatives. Honestly, I think Senator Detert said it best; it is one thing to be persuaded by heavily paid lobbyists for or against an issue, however, it quite another to have your own local constituents personally make the trek up and get some real face to face time. The quick statistic below may say it all.

According to Florida Realtors®, there are approximately 115,000 Realtors® licensed in the state. In 2008, the real estate sector (including leasing services) accounted for 18.3 percent of the state’s Gross State Product or the equivalent of $134 billion in transactions. Lawmakers recognize this incredible impact and likewise we, as Realtors®, recognize our lawmakers’ vital roles in establishing policy. With that kind of mutual recognition, its no wonder the capitol building was a buzz with activity.

Given the opportunity, I hope to make the trek again next year.

If you have questions, comments or topics for discussion, please feel free to write me at [email protected]

CID plans program for May 18thThis month’s CID program will be held in the SAR

Main Auditorium on Tuesday, May 18th at 8:30 a.m., and all CID members are invited to attend. Merri Jo Cowen, CEO of My Florida Regional (MFR) and Carlos Fuentes, MFR President, will give an update on MFCRE and also provide in-depth review on some of the new features available to MFCRE subscribers.


Are you fluent in ‘Commercial’?When residential Realtors® should hand off the referralsBy Brad LindbergCID Vice President

Living in a global economy opens doors to many opportunities for foreign investment. Having a background in international immigration and visa laws is a must, along with a background in cultural differences between the U.S. and the country of your client’s origin.

This coupled with completing the sale of the perfect house for your client will help you become successful in pursuing a commercial transaction for his business.

“Not so fast…Mon Ami!”You wouldn’t go to a cardiologist for a headache, and you

wouldn’t go to a neurologist for chest pains. If you’re an expert in residential real estate, it doesn’t mean you’re an expert in commercial properties. You have to ask yourself, “Am I fluent in commercial?”

Selling commercial real estate is unique. It comes with its own lingo. There are more acronyms for zoning alone than one could imagine.

Yes, there are numerous zoning acronyms in residential, but there is a difference. If your client wanted to live in a gated community, you wouldn’t show them a prison. It would be very evident that the space doesn’t fit the need.

The same goes for commercial. For example, not all zoning will allow the type of use your client will need.

You can drive down the road and find the perfect fit. The client is ready to pull out the checkbook, pay full listing price and move in tomorrow.

Only one problem. The zoning will not allow the type of business for that location. Zoning comes in all colors and flavors - C, CI, CG, CM, CN, OPI, ILW, PUD, PID, HPIOD, etc. And that is just the beginning. You better know other commercial vernacular such as LOI, ITN, RFP, or NDA.

After you master that group of acronyms, you better understand ROI, CAP, BOMA, RSF, USF and maybe even what an IRB is.

Have I lost you yet? And all you thought you needed was a GRI designation. Agents who sell residential real estate are great at what they do. They have the inherent ability to see beyond the shag carpeting and the paneled walls. They can envision the kids playing in the spacious backyard after the car on blocks is removed. It takes a special person to articulate that for a client.

In commercial, the client is all about survival of their business. Emotion gives way to reality when business owners make their decisions. “Culture” is the understanding of the client’s business and growth strategy. Being “Fluent” is the ability to properly communicate that knowledge to the client.

Whether you are local or global, commercial transactions require the one trait recognized around the world, “Fluency in the language of business”.

Officers:President: Lee DeLieto, Jr., Michael Saunders & CompanyPresident-Elect: Anthony Homer, Lakewood Ranch CommercialVice-President: Brad Lindberg, Hembree & AssociatesPast President: Jag Grewal, Ian-BlackSecretary: Tim Mapp, Mapp RealtyTreasurer: Linda Emery, Michael Saunders & Company

Directors:Dave Altwies: Exit Gulf Coast Realty (1 year term - 2010)Lori Conable: Osprey Real Estate (1 year term-2010)Eric Massey: Michael Saunders (2 year term - 2011)Mike Sporer: Interstate Commercial Brokers (2 year term - 2011)Diane Lee: Wagner Realty (3 year term - 2012)

2010 CID Officers & Directors


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Earn NAR Green Designation June 7-8Title: NAR’s Green Designation (complete!)- Core Course – June 7-8Residential Elective: June 9Instructor: Lynn A. NilssenTime: 9 a.m. to 4 p.m.Cost: Core Course $250Residential elective: $125Save $50 and sign up for both at $325

Green homes that are good for the environment while saving home owners money are in demand, and Realtors® are responding by enhancing their multiple listing services to showcase green homes and green features.

In order to earn the NAR Green designation, the student must successfully complete the Core Course and one of three elective courses.

• Green Residential Real Estate• Green Commercial Real Estate• Green Property ManagementStudents who complete the Core Course receive a one-

year membership in the NAR Green Resource Council. SAR is offering the Residential elective in conjunction with the Core course so you can knock out your designation quickly.

After taking this course, you will be able to:

•

Recognize the features that make a home or building green and resource efficient in construction or remodeling, use and operation

• Inform customers and clients of the significance of LEED, Energy Star, and other rating systems

• Discuss the cost-benefit of resource-efficient building and home systems, materials and land usage

• Recognize, validate and respond to concerns and priorities of the green consumer, seller, buyer, tenant, builder, developer

• Make the appropriate disclosures consistent with NAR Code of Ethics and state regulations

• Describe the interrelationships of sustainable communities, Smart Growth, natural habitat conservation, New Urbanism and land planning.

GRI Course 2 offered in late May, JuneTitle: GRI 2Dates: May 24-26 & June 1-2Times: 8a.m. to 5 p.m. (varies)Credits: 15 hours broker post-license credit, or 11 hours continuing education Cost: SAR Members by 5/10/10: $275Non Members by 5/10/10: $300After 5/10/10: Add $25

Is it a coincidence that all the top producers in the Sarasota market have earned their GRI designation? We don’t think so!

We think the education that you receive from the GRI program is the best anywhere in the country. Sign up today for GRI 2 starting on May 27. Here are the subjects:

- Sales and Marketing (one day)- Personal Promotion (one day)- Appraising (one day)- Investments (half-day)

- Construction (half-day)- Elements of E-mail (half-day)The GRI designation is also

available online at www.fargri.com. But we would prefer to see you in class here at SAR!

• Increase your knowledge. You’ll learn valuable information and techniques that can help you and your business.

• Professionals find the GRI designation a powerful tool for attracting and building new business.

• Expand your network of real

estate professionals to generate more leads.

• Develop skills and obtain knowledge to get better results with less time and work.

• Display your designation certification to illustrate your professionalism and expertise.

This GRI series is offered by Florida Realtors® through its Florida Realtor® Institute. All the instructors have been carefully screened for their knowledge of the subjects as well as for their teaching techniques—they’re the best real estate teachers in the state.

All 3 GRI Courses Can Now Be Taken Online. Don’t wait in line, go online! All GRI Courses are now available for GRI credit online through a special Florida Realtors® website: www.fargri.com.


GRI 2 May 24-26, June 1-2, 2010GREEN June 7-9, 2010

CIPS Inst. June 21-25, 2010GRI 3 July 26-28, Aug. 3-4, 2010

Mark Your Calendars: 2010 Designation Courses

Title: How to Grow Your Real Estate Business and Multiply Your Profits in Today’s MarketDates: May 27, 1 to 4 p.m.Cost: FREE to SAR and MAR Members; $20 others

The Sarasota Association of Realtors® is pleased to announce that Billion Dollar Agent™ and renowned industry trainer, Craig Proctor, has agreed to conduct a special training session especially for Sarasota Agents on Thursday, May 27.

Craig, who now makes Sarasota his home, not only topped the RE/MAX® International charts for 15 years (twice as #1 Agent Worldwide), he is also responsible for the biggest success stories in our industry, coaching over 30,000 agents from mediocrity to millions.

Who better to learn from than the agent who pioneered the industry’s mega-agent strategies. Craig will show you how to effortlessly increase your income – even in this challenging market -- while reducing your work week.

In This 3-Hour Session You’ll Learn:1. How to Generate Leads Without Spending Money

You Don’t Have: By using Craig’s easy-to-duplicate lead generation system you can completely eliminate all traditional prospecting and replace it with autoamted marketing systems that attract, screen, qualify and pre-sell prospects for you. The systems do your work while you eat dinner with your family uninterrupted by the cell phone. Watch your son play ball or get in a round of golf. With these systems you spend LESS on advertising (including FREE lead generation) yet attract more clients than agents with much greater visibility.

2. How to Turn Leads Into Sales: Generating leads is important, but many agents drop the ball because they lack an effective system to nurture future business. Craig will show you how to prevent prospects from slipping through the cracks. He will teach you exactly what to say to determine their timing and motivation, and how to compel the most qualified of them to want to meet with you.

3. Listing and Buyer Presentation Systems That Really Work: Learn how to compel buyers and sellers to sign a contract with you without using high pressure or manipulative sales techniques. You’ll learn what buyers and sellers really want vs. what most agents think they want, and how to obtain prime listings even if you’re competing against a discounter

or the seller’s best friend. The net conclusion to a compelling presentation is the prospect asking you “Where do I sign?” If you have to be a “closer”, your presentation simply isn’t strong enough.

4. The Best Strategies to Price Your Listings Right and Get Price Reductions: Learn exactly what to say and present to even the most stubborn homeseller to help them make the right decision and price their home competitively.

5. Advanced Internet Marketing: Learn the best internet lead generation strategies being used by Florida’s top agents.

6. How To Differentiate Yourself From Other Realtors®: Discover three easy ways to set yourself apart from other agents in your marketplace.

Seating is limited for this information-packed 3-hour event. The session will be conducted at the Sarasota Association of Realtors®, 3590 S. Tuttle Avenue, Sarasota. This event is limited to the first 80 Realtors® to respond.

SAR members should register online at www.sarasotarealtors.com. Non-members should call Carolyn at 941-328-1157 for a registration form.

Be profitable in today’s real estate market


CONGRATULATIONS! Dedication and hard work pay off!! We congratulate our members

who have successfully completed the National Association of Realtors® designation and certificate programs, Graduate Realtor® Institute (GRI), Resort and Second Home Specialist (RSPS), and Certified

International Property Specialist (CIPS).

Graduate Realtor® Institute (GRI)Anja Deichmann Michael Saunders & CompanyJanice Marquard RE/MAX Alliance GroupDavid Piper RE/MAX Alliance Group

Resort and Second Home Specialist (RSPS)

Alfredda Smith-Odato Cityscapes International Realty

Get the scoop on social networkingIntro to Social Networking & the Top ThreeMonday, May 17, 9 to 11 a.mSAR Members: $10; Others, $20Instructor: Kevin McNulty of NetWeave

The “social media” phenomenon has taken networking to a new level of complexity, offering us myriad choices and a frenetic pace.

There are now literally dozens of sites and services, and Nielsen predicts that social media will grow three times faster than all other types of Internet activity combined. Facebook alone has over 400 million users worldwide, and up-and-comer Twitter has grown 1300 percent over the last year!

Fortunately, it is not as hard as it sometimes seems to start developing meaningful, valuable networks in the virtual world.

This session will help new users make sense of it all, and aid current users in using their tools more effectively. Kevin will cover the “top three” — Facebook, LinkedIn and Twitter.

Kevin McNulty is the founder and president of NetWeave Social Networking.

NetWeave provides consulting services for a wide range of clients in Tampa Bay, including the South Florida Museum, Realize Bradenton, and Shapes Total Fitness. McNulty delivers a series of courses for the Manatee Chamber of Commerce, among other area organizations.

Certified International Property Specialist (CIPS)

Jane Rees Michael Saunders & Company

Sarasota’s Premier Real Estate Printer

Award-winning printing and customer service

Specializing in pocket portfolios,die-cutting and foil -stamping

done in-house

FSC and SFI certified to help you go green

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[email protected]


Become an MFRMLS pro!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 BasicMay 3, 24, June 1, 9 a.m. to Noon

Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work.

Mandatory session for all new users.- 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 informationEntering and Updating Listings in MLXchangeMay 3, 24, June 1, 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 listingsDesign Web Pages, Capture LeadsMay 12, 1:30 to 4:30 p.m.

One of the most crucial components in today’s real estate professional’s day-to-day business is capturing and handling leads along with time management. This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go hand-in-hand with a successful real estate business.iMapp - Interactive Taxand Mailing LabelsMay 12, 9 a.m. to Noon

In this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area.- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones- Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searchesCreating Custom ReportsMay 18, 9 a.m. to NoonThis 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 defaultMaximizing Your MFR Productivity ToolboxMay 18, 1:30 to 4:30 p.m.This class introduces the user to the often overlooked plug-ins and features that are designed to save you time and money, as well as adding an extra level of service to your customer.- MongoFax—Fax any document directly to any email address in the world- RatePlug—Include mortgage options from your three favorite lenders for each listing- ShowingTime—Automate and document showing appointments- Kurio—Access MLXchange from your mobile phone. Good for buyers, too!- RealBiz360—Create spectacular virtual tours with brilliant color and clarity for only $2 per listing for the basic package or $5 per month, with a one-time setup fee of $25 for the Gold upgrade, providing unlimited photos and virtual tours, which will automatically post your virtual tour into MLXchange, Google, Yahoo, Trulia, Oodle, Zillow and Homeseekers.- Blue Dasher—Street-level Virtual Drive Technology lets buyers tour the neighborhood from their computer. Helps you save time and gas, while impressing buyers and sellers. Plus, receive a FREE seven-day “test drive” and another FREE seven days of service by completing this course.MLXchange AdvancedMay 25, 1:30 to 4:30 p.m.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


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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!

Friendly SAR faces getting involved!

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

Michelle Wynne, Debbie Smith, Christina Pitchford and Jaclyn Ohman at the April 18th Green Home Expo.

Ellen Laura Esses, Rigo Riviera and Jose Colon at the March 23rd Affiliate Social.

Eric Peters and Julie Hunnel at the April 20th HBA Green Day Social.

Donna Evans and Dawn Cohen at March 25’s Spring Fling Affiliate Social for Realtors.

Sonia Hamouda and Stella Giudicelli at March 25’s Spring Fling Affiliate Social for Realtors.


Distressed property totals heading downThe end of the first quarter of 2010 may have been the

turning point locally for the distressed property market, as the overall percentage of distressed property sales decreased to 41 percent in March 2010 from the previous high of 48 percent hit in January 2010.

The monthly figure has now dropped steadily throughout the year, and the median prices for distressed sales has been increasing for both condos and single family homes.

REOs, or bank-owned home sales, aand short sales are still near historic highs in the Sarasota market. But the lower figures and downward trend indicates that Sarasota is once again bucking the national trend toward higher numbers of foreclosures and short sales.

The first quarter distressed sale totals were slightly higher than the last quarter of 2009 (44 percent to 43 percent). But the January and February figures were the dominant reason.

The overall number of bank-owned sales actually reached their highest level in the first quarter of 2009 (specifically March 2009). At the same time, short sales began a gradual rise, reaching their highest level in the third quarter of 2009 (specifically September 2009). See the charts below.

In October 2009, these trends started to reverse, with short sales declining for both single family homes and

condos, while REO sales started upwards again.There remains a large disparity between the prices

garnered for arm’s length sales and prices for short sales and REO sales.

For example, the median sale price for single family homes sold at arm’s length during the first quarter of 2010 was $225,000. But the median for bank-owned homes was only $91,250, and the short sale median was only $150,000.

For condos, the difference was even more dramatic. In the first quarter of 2010, buyers paid a median of $68,879 for bank-owned condos, and $115,000 for short sales. But the median sale price was $275,000 for arm’s length condo sales.

The first quarter statistics continue to point to a market divided into three much different segments. But the decline in the numbers and percentages of distressed sales is finally starting to show up in the overall, blended median sales prices (see Page 15 article). Eventually, owners of well-maintained homes in good neighborhoods will become the primary sellers, and the overall median sale price will rise as the bargain rack is depleted.

You can find more charts and analysis on the SAR web site under the Resources tab, Stats Xtra.


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MLS

FAQ Short sales: Is it active or pending?

Confusion on reporting the status of a short sale transaction continues to reign supreme when it comes to questions on My Florida Regional (MFR) MLS requirements. The MFR board of directors has now addressed the most recent “Hot Topic” on short sales.Hot Topic: Short Sales & Right of First Refusal

What do you do when you have obtained a short sale listing and have a contract between the buyer and seller but the bank needs to approve the sale price? According to the MFRMLS rules and regulations, you must mark your listing as pending within two business days.

Over the last several months, listing agents have been interpreting the Rules, “Section 15. Contingency Applicable to Listing”, as justification to leave a short sale with an accepted offer as “active.” This section of the rules and regulations states that a listing may only remain in active status when a contract to purchase contains a Right of First Refusal clause. Other contingencies such as “third party approval” do not apply to this exception. Further clarification has been recently added to clarify that Section 15 does not apply to short sale listings under any circumstances.What is MFR’s Definition of a Right of First Refusal?

A Right of First Refusal is a contractual right that gives the buyer the option, according to specified terms, to perform under the conditions of the contract before the owner is entitled to enter into that transaction with a third party.

Example: Abe owns a house that he plans to sell to Bo for $1 million. However, Carl holds a right of first refusal to purchase the house. Therefore, before Abe can sell the house to Bo, he must first offer it to Carl for $1 million. If Carl accepts, he buys the house instead of Bo. If Carl declines, Bo may now buy the house at the proposed $1 million price.

Right of First Refusal does not apply to short sales; a right of first refusal exists when a third party has the right to acquire a property by replacing – or stepping into the shoes of - another buyer. The lender is not stepping into the shoes of the buyer – but instead is simply approving or disapproving the amount it will accept to release its mortgage lien.

Tip: If the seller of any property wishes to solicit back up offers (including short sale transactions that are pending), the listing must still be marked as pending within two business days of the signed contract; however, while editing the listing status, the option exists to choose “back ups requested” in the contract status field. How Was This Decision Made?

Over the last year (and then some) a Short Sale Task

Force, the Policy Committee, the Board of Directors and legal counsel have been listening to member concerns and have wrestled with the pros and cons of short sale reporting requirements, compensation and issues such as the applicability of a short sale and the right of first refusal. They have heard all sides of the issues and have considered the rules and requirements from the National Association of Realtors®. They have spent countless hours in debate, ultimately arriving at the decisions that have been made or clarified in recent months. Each member of these committees recognized the varied opinions on the issues and understood that MFR needed to have sufficient guidelines to reduce the frustration of the members. They have worked collectively to bring forward MFR’s stand on these topics.

The rule change to clarify that short sales cannot be left active under the “Right of First Refusal” exceptions is only one of several recent changes. Please remember when you have a short sale listing to follow the MFRMLS Rules and Regulations: Article 4.1-1C: Short Sale Listings.

All members are encouraged to look at their short sale listings and make any necessary adjustments needed to comply with MFRMLS Rules and Regulations. Short sale listings that have an offer pending, but are currently active with terminology related to Right of First Refusal, must be changed to pending status.

MFR appreciates your assistance in bringing all listings into compliance. The goal is to keep your database as clean and consistent as possible. If you need assistance in updating your listings, please contact the help desk team at 1-800-686-7451; select option 1 to connect with one of our Help Desk Technicians.

If you have questions regarding any MFRMLS Rules and Regulations, please contact the Administration Department at 1-800-686-7451 or locally at 407-218-8607; select Option 3 to connect to the Administration and Membership Department.

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Realtor® Magazine OnlineSometimes, following the law

goes hand-in-hand with effective marketing. Such is the case with the National Do Not Call Registry, says Denver real estate practitioner Jennifer Allan. Long before the do-not-call list, technology was changing the way that consumers want to interact with salespeople.

“All the law did was give salespeople a push into the 21st century,” says Allan, author of If You’re Not Having Fun Selling Real Estate, You’re Not Doing It Right (Bluegreen Books, 2010).

Here are Allan’s rules for reaching out to prospects without being a nuisance.

1) Leave people alone. Whether it’s their use of TiVo to skip the commercials or caller ID to avoid sales calls, people have made it clear they have little tolerance for being sold to. Even if they’re not on the no-call list, you risk irritating 95 out of every 100 people you call if you solicit their business with a cold call. And irritated people don’t refer business to you.

2) Get them to call you. People like to get to know you in a non-pressure environment, and then when they need something, they call you. Social media is perfect for that. Use the Web to keep your real estate expertise front and center without

making it explicit. Answer people’s questions in a way that showcases your expertise without trying to sell anything.

3) Keep it personal. When you blog and send e-mails to your sphere, only focus on real estate if you have a good story to tell: An interesting listing or a video clip of your interview with the local TV station are good examples. Mostly focus on things that can help people, like a reminder of street-

sweeping day so that they can move their car and avoid a ticket.

4) Go for the quality. When you cold-call, you play a numbers game in which you try to get five

leads for every 100 calls. Rather than go for the quantity, and risk alienating people, go for the quality. Get outside, meet people, and form relationships that your new contacts will value. “Get out in the world with your antennae up and a smile on your face,” Allan says.

‘Do Not Call’ Refresher• As of Jan. 1, 2005, telemarketers

and sellers, including real estate practitioners, are required to search the do-not-call registry at least once

every 31 days and drop from their call lists the phone numbers of registered consumers.

• The law allows calls to “existing customers,” defined as people with whom you’ve done business in the last 18 months.

• You can call FSBOs on the list only if you have a buyer for their home, not to solicit their listing.

• There is a safe harbor for inadvertently calling someone on the list if your company has written procedures on calling, provides training on

do-not-call regulations, has accessed the national registry within the last three months, and maintains a company-specific list of numbers not to call.

‘Do not call’? How do you reach?


tThis is becoming the “Best Year Ever”. Our membership

team under the guidance of our Vice President of Membership, Marianne LeBar, set goals for her team and has already far surpassed expectations for the membership drive. The member mixers were a success with good food, networking, renewing of members and new members coming on board.

Congratulations to the following new members for the month of March:Roberta Tengerdy—Sothebys; Terry Hayes—Sothebys; Jo Rutstein—Sothebys; Cindy Migone—Sothebys; Tina Ciaccio—Penns Property Group; Mary Hellake—Michael Saunders & Company; Roxanne Foley—RE/MAX Alliance; Jim Soda—Prudential; Vi Klee—Realtor; Beth Evans—Property Connections; Laura Benson—Michael Saunders & Company; Beth Affelbach—Michael Saunders & Company—Ritz Carlton; Kristina Talkie—Michael Saunders & Company—Siesta Key; Janice Carper—Michael Saunders & Company—Main Street; Peter Salesfsky—Michael Saunders & Company—St Armands; Donna Elmore—Herrli-Elmore Realty; Patti Piper—Michael Saunders & Company—Siesta Key; Erick Shumway—RE/MAX Alliance; Anne Weintraub—Syprett Meschad; Joan Stanton—Fifth/Third Bank

WCR welcomes new members throughout the year. If you would like to be a guest, join or want more information about our organization please contact one of our line officers listed below.

Several of our members recently attended a Summit in Chicago. The event focused on the cutting edge trends and technology tools that are a “must haves” for today’s wired agents. The keynote speaker gave an up-to-the minute 2010 economic and housing outlook. A powerful panel of experts discussed how to profit in this changing market. The summit also included programs on building your business through social media, how to increase your rate of lead conversion and creating a short sales marketing plan. All members are invited to attend these conferences that occur throughout the year.

GOOD NEWS! Sarasota WCR chapter will be honored with the Chapter Excellence Award for 2009. This award recognizes chapters that provide superior member value that best contributes to the mission and goals of the organization. The award is given on a point system in

areas such as membership, recruiting, retention, leadership development and chapter effectiveness. Our 2009 chapter president, Janice Litke, along with this year’s line officers will be accepting this award on behalf of our chapter in Washington, DC the middle of May.

Our April program was a “Young Producers Panel” with Christina Pitchford, monitor ; Valarie Wadsworth; Anthony Homer and Dave Beachy as the panel. They contributed talking about their experience, involvement, unique perspective and insight into the local real estate market.

Check out our website: www.SarasotaWCR.com and find out about our upcoming events. Save the date, September 15th for our fabulous Fashion Show at the Polo Grill. I hear it has something to do with diamonds. Last year’s fashion show was sold out!

WCR 2010 ProgramsMay 7, 11 a.m., Lakewood Ranch Country Club:

“Honoring Past Women’s Council Presidents” (Joint Meet with Manatee WCR

June 25 - District XIII & V Forum, President Nan Harper, Keynote Speaker

July 9, 11 a.m., Laurel Oak Country Club: “Lynn McDonald - Topic TBA; Election of 2011 Officers

Aug. 13, 11 a.m., University Park Country Club: “Legislation That Affects Florida Realtors - Ron Reagan, Speaker Pro-Tempore, FL House of Representatives

Sept. 15 - Fashion Show - Polo GrillOct. 8, 8:30 a.m., Bird Key Yacht Club: Program TBANov. 12, 11 a.m., University Park Country Club:

Award Ceremony and FarewellDec. 10: Installation of 2011 President and Board,

Sarasota Yacht ClubSponsors

Gold: University Park Lifestyles, Inc.Silver: Lakewood Ranch Communities, LLC Neal Communities Starr Title Insurance Services, Carrie RummeryBronze: Regions Mortgage BB&T Oswald Trippe - Joe Sikora Silver Fox Pest Management MGA Insurance Group Southern Trust Financial Planning Intutive Interiors, Debra Bois

WCR 2010 proving to be ‘best year ever’By Karen Grant2010 WCR President

Karen Grant President Michael Saunders & Company Cell: 941-504-4952 [email protected]

Cindi Jackson President-Elect Exit Realty Signature Properties Cell: 941-400-6091 [email protected]

2010 Line OfficersMarianne LeBar Vice President of Membership Michael Saunders & Company Cell: 941-650-0337 [email protected]

Sharyl Smith Treasurer Bank of Commerce Cell: 941-374-06302 [email protected]

Leslie Lauritano Recording Secretary Regions Bank Cell: 941-504-1028 [email protected]

Melia Favorite Corresponding Secretary Iberia Bank Mortgage Cell: 941-807-0303 [email protected]


International Real Estate

Title: CIPS Institute (Certified International Property Specialist)Dates: June 21-25Location: SAR Main AuditoriumInstructors- David Lauster, CIPS, David Wyant, CIPSCost: SAR members $125 each, or $499 for the series (a $126 discount); $575 for non-SAR members (a $50 discount)

This Institute will be one of the first to be offered after NAR compresses the courses for the designation from 7 days down to 5, effective June 2010.

The low price for the complete designation is possible because of NAR’s Right Tools, Right Now program which has been extended through 2010, and also because the program has been shortened by two days. Get your CIPS designation while the price is the lowest you’ll ever see!

The complete series of classes leading to the CIPS designation is $499 for SAR members, a $126 discount. The complete series is $575 for non-SAR members, a $50 discount.

CIPS Institutes concentrate five of the required international CIPS courses into a 5-day format, allowing students to save travel costs and to complete the program quickly.

June 21: International Real Estate for Local Markets: Analysis of the international real estate business environment, government regulations and cultures. The practical aspects of international brokerage, networking, marketing and selling are discussed (Lauster)

June 22: Investment & Financial Analysis for International Real Estate: Provides the tools needed to present investment information to international clients—in their currency and area. HP-10B calculator required. (Lauster)

June 23: Europe & International Real Estate: Provides information on working with clients in Western and Central Europe. The European Union and its impact on international real estate are covered, along with economic and real estate trends, networking and relationship building, plus marketing and selling practices (Lauster)

June 24: Asia/Pacific and International Real Estate: Covers real estate practices in Asia and the Pacific with emphasis on cultural influences, economic trends and assessment of investment opportunities. A special chapter on working with the Japanese is included (Wyant)

June 25: The Americas & International Real Estate: Practical information for professionals who work with Caribbean, North, Central and South American

investors. Historical and cultural influences, regional relationships, and investment opportunities are covered along with a special focus on Mexico (Wyant)

David Lauster, a licensed real estate broker since 1985, has earned five NAR designations and is the recipient of numerous achievement awards, including CIPS Instructor of the Year in 2005. He has lived on three continents and is fluent in French, Spanish and German. David joined the U.S. State Department’s directorate of Overseas Buildings Operations in 2004, and has risen to the position of Branch Chief for Property Acquisitions worldwide, involved in the purchase or leasing of commercial space, land and housing for new embassies and consulates in more than 70 nations.

David Wyant has represented multiple international corporations on every continent. He has lived, bought, sold property and operated his own company internationally. He has taught and lectured across the world on topics ranging from marketing and strategy development to international finance and business planning. David serves NAR as a faculty member for the Certification as an International Property Specialist (CIPS) and is a Florida licensed Real Estate Instructor and Broker.

Special Pricing—Save and take the entire series!- $125- International Real Estate for Local Markets- $125- Investment & Financial Analysis- $125- Europe & International Real Estate- $125- Asia/Pacific & International Real Estate- $125- The Americas & International Real Estate- $499- Entire Series (SAR Members only, $575 non-

SAR members) leading to CIPS designation—June 21-25

CIPS designation discounted in June


Mem

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New

sDesignated Realtors®

Hernandez, C. Maria: Florida Sunquest Realty Inc.McGreevy, A Brian: Sarasota Home RealtyPaschel, Keller Christie: Estates Realty of Sarasota Inc.Townsend, A. Gayle: Gulf Coast Appraisals Inc.

New MembersAmann, Paul: Bosshardt Realty Services Inc.Boothby, R Antonio: Michael Saunders & CompanyBush, Brian: American Prop Group of SarasotaChartier, Mike: Horizon Realty InternationalCiaccio, Tina: Peens Property Group Inc.Dallou, Harold: Coldwell Banker Res R EDempsey, Mary: Coldwell Banker Res R EDuchesneau, La Nae: Listing Services DirectGalford, Gregory: RoseBay Real Estate Inc.Gamble, Darlene: Signature Sothebys Internat’lGreen, Courtney: Signature Sothebys Internat’lHoward, Carla: Cristello and Co Real EstateJones, Jessie: USA Realty Partners Inc.Kayajian, Gail: Gail A Kayajian License BrokerKoolkin, Michael: Keller Williams Lakewood RanchLance, Cynthia: RE/MAX Tropical SandsLedford, K Scott: Coldwell Banker Res R EMaltz, Harriet: Michael Saunders & CompanyNewmark, Ronald: Horizon Realty InternationalPlummer, Matthew: James Buchanan RealtyPotts, Krista: RealtyOne FloridaPrentice, Katherine: Allison James Estates & HomesStalnaker, Julie: Cristello and Co Real EstateStavola, Laura: Neal Communities Realty Inc.Strzepek, Cary: Coldwell Banker Res R ESwenson, Vicki: Associates Realty Inc.Tresidder, Brian: Omega Real Estate Group LLCWatkins, Samuel: Coldwell Banker Commercial NRTWeaver, Lisa: EXIT Creative RealtyWilson, Douglas: Atera Real Estate Services LLC

Now With ...Ali, Fuad: Blakeley & Associates RealtyBurtwell, Stephanie: RE/MAX Alliance GroupCalderaro, Diane: RE/MAX Alliance GroupCampbell, Lori: Allison James Estates & HomesColeman, Deborah: Luxury Estates InternationalCox, Heidi: Michael Saunders & CompanyDiSalvo, Amy: Allison James Estates & HomesEsses, Ellen Laura: Xena Vallone Realty Inc.Frost, Jim: Wagner RealtyGager, Troy: Sandals Realty of SarasotaGallagher, Diane: Wagner RealtyGlenn, Olga: Jennette Properties Inc.Grant, Karen: Michael Saunders & CompanyHaas, David: Michael Saunders & Company

Hagan, Pamela: Prudential Palms RealtyHill, S Mark: Peens Property Group Inc.Johnstone, Jane: Sarasota Home RealtyJurney, Ralph: Horizon Realty InternationalKearney, Kitt: RE/MAX Alliance GroupKirkpatrick, Yolanda: Keller Williams Lakewood RanchLeffel, Nell: Michael Saunders & CompanyLopez, Manuel: CareFree Realty Inc.Maltz, Harriet: Michael Saunders & CompanyMarquard, Janice: RE/MAX Alliance GroupMcFarland, Marci: Michael Saunders & CompanyPantyuxin, Alexander: Top Realty Group of FloridaPiper, David: RE/MAX Alliance GroupReason, Roger: Century 21 Sorrento RealtyRigby, E Lynn: Wagner RealtyRiley, Mark: Luxury Estates InternationalRuiz, Robert: Horizon Realty InternationalSzabo, David: 41 West Realty Group Inc.Taulbee, Judi: Michael Saunders & CompanyTotonis, Charles: Signature Sothebys Internat’lTurner, Marcus: Wagner RealtyVollmer, Helene: Keller Williams Lakewood Ranchvon Lazar, Nancy: Prudential Palms RealtyVoorhees, Sally: Horizon Realty InternationalWaterman, Monica: RE/MAX Alliance GroupYoung, Margaret: Sarasota Beach RentalsYturraspe, Jo Ellyn: Prudential Palms Realty

New AffiliatesSerbin Printing Inc. 1500 N. Washington Blvd.Sarasota, FL 34236Phone Number: 941-366-0755Representative: George RawlingsSpecialty: We started our business in January of 1971 with a desire to offer outstanding quality printing and unequaled customer service to our clients. Throughout the years of never ending expansion, we have never forgotten our original goals and commitment to our customers. We continue to purchase the best printing equipment available to give us every competitive advantage in the marketplace allowing us to provide you with quality work in the time frame needed at competitive prices. In addition, we continue to add new product lines and services to give you every option you need to be successful with your marketing needs. We have always been on the leading edge when it comes to adding additional services; like in-house graphic design services, a web-to-print solution for digital and variable data printing, U.V. coating, a dedicated

The Association is pleased to welcome new members!


publishing department and a full-service mailing facility to compliment our robust offset printing, bindery and finishing departments. Please visit our Customized Online Print Studio (COPS) for SAR members at www.serbinprintingdirect and get a 30 percent discount for online printing services.Email: [email protected]

Accurate Health&Financial Svc.2080 Ringling Blvd.Sarasota, FL 34237Phone Number: 941-951-0174Representative: James GiuffraSpecialty: Leading Florida All Purpose Insurance Group. Specifically, Health Insurance Specialists for Professionals, Self-Employed, and Small Business. We directly represent every major carrier. We have multiple offices and a large number of representatives to service your every Health Insurance need.Email: [email protected]

HomeTeam Inspection ServicesP.O. Box 7454North Port, FL 34293Phone Number: 941-316-0557Representative: Thomas MahoneySpecialty: Owner Tom Mahoney has 35 years of experience in the construction industry and brings with him a comprehensive knowledge of all components inspected. These years of experience have all been in Florida so Tom’s knowledge encompasses the construction elements that are specific to Florida. The HomeTeam “Crew” in Sarasota and Manatee counties consists of Certified and Licensed inspectors in the following areas: Wood Destroying Organism, Heating and Cooling, Security Systems, Septic Systems, Dock, Davit and Boat Lift Systems, and Pool and Spa Systems. Our HomeTeam is comprised to meet the needs of the property being inspected and to perform a complete inspection in a timely manner.Email: [email protected]

KB Home9102 Southpark Ctr Loop #100Orlando, FL 32819Phone Number: 407-587-3593Representative: Mary Ann KellerSpecialty: Only KB Home offers it all to your clients: our one-of-a-kind Built to Order™ experience; a wide selection of choices at the KB Home Studio; incredible construction quality backed by our industry-leading 10-year limited warranty; money-saving energy efficiency; and so much more—all at an amazingly affordable price. KB Home is committed to customer satisfaction. We will go the extra mile for you, ensuring that all facets of your new-home experience meet the expectations of KB Home and you, our valued customer.

Email: [email protected]

P3 Inspections5020 Clark Road, Suite 430Sarasota, FL 34233Phone Number: 888-878-5277Representative: Stephen J KarpSpecialty: Professional Home Inspections. Licenced, Insured and BondedEmail: [email protected]

Prospect Mortgage2033 Main Street, Suite 501Sarasota, FL 34237Phone Number: 941-554-8113Representative: Bob WardSpecialty: As one of the nation’s largest independent residential retail lenders, Prospect Mortgage has greater control over your transaction and is able to quickly approve and close loans in-house. In fact, we are able to fund loans that other lenders might deny. Our highly experienced Loan Officers take the time to carefully listen to you and understand your goals, and then provide a consultative approach to helping you find the right loan. That’s why we offer a vast array of loan programs that most other lenders can’t match. It’s all about finding the right loan for you. We offer a variety of home loan solutions including first-time homebuyer programs with down-payment assistance, FHA and VA, conventional, jumbo and super jumbo, reverse mortgages and more! This means you can rest assured that we’ll provide you with a competitive loan that meets your unique needs.Email: [email protected]

Yoder Homes & Remodeling6979 74th Street Circle EastBradenton, FL 34203Phone Number: 941-758-4028Representative: Walter BeerSpecialty: Yoder Homes is a well-established residential and commercial remodeling company offering custom designs, complete home improvement and renovation projects, based in Sarasota, FL. Yoder Homes & Remolding is Florida State Certified and insured. We Provide: High integrity management, delivering a maximum level of quality craftsmanship, design, and finishing. We want to earn the opportunity to show why “You Can Trust Our Experience”. We Specialize In: Residential and Commercial condo renovations, room additions, and major/minor repairs. We also focus on custom kitchens, bathrooms, cabinetry & custom built-ins. We Serve: Manatee County, Sarasota County, including Lakewood Ranch, Longboat Key, Siesta Key and Venice.Email: [email protected]


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3 9 a.m. MLXchange - Basic 1:30 p.m. MLXchange - Entering & Updating Listings

4

5 7:30 a.m. Toastmasters 8:30 a.m. Affiliate Event-Panel of Pros

6 8 a.m. Power Marketing (University Park CC)

7 9 a.m. CID Commercial Marketplace

10 9 a.m.– 4 p.m. New Member Orientation & Code of Ethics

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12 9 a.m. Green Seminar 9 a.m. MLXchange - iMAPP 1:30 p.m. MLXchange - Design Web Page 5:30 p.m. SYR Social - Urban Reef

13 8 a.m. Power Marketing (SAR)


17

18 8:30 a.m. CID General Membership 9 a.m. MLXchange - Creating Custom Reports 1:30 p.m. Toolbox

19 7:30 a.m. Toastmasters 12 Noon Procuring Cause Seminar

20 8 a.m. Power Marketing (SAR)

21 9 a.m. CID Commercial Marketplace (Manatee Association of Realtors®)

24 8 a.m. GRI 2 9 a.m. MLXchange - Basic 1:30 p.m. MLXchange - Entering & Updating Listings

25 8 a.m. GRI 2 9 a.m. Creating a CMA 1:30 p.m. MLXchange - Advanced 5 p.m. Affiliate Social

26 9 a.m. GRI 2

27 8 a.m. Power Marketing (SAR) 1 p.m. Craig Proctor Seminar


31 SAR Office Closed Memorial Day

June 1 9 a.m. GRI 2 9 a.m. MLXchange - Basic 1:30 p.m. MLXchange - Entering & Updating

2 9 a.m. GRI 2

3 8 a.m. Power Marketing (University Park CC) 1 p.m. Craig Proctor Seminar


MAY 2010

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 “Training,” then “Quick Class Registration” and follow prompts.

SARASOTA ASSOCIATION OF REALTORS® EDUCATION/EVENTS CALENDAR


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

2007‐1stQ 2007‐2ndQ 2007‐3rdQ 2007‐4thQ 2008‐1stQ 2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1

REO Short Sale Arm's LengthSingle Family Median Sale Price


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000


REO Short Sale Arm's LengthCondos Median Sale Price

The Xtra Pages - D

igital Version Only


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000


REO Short Sale Arm's LengthSingle Family Median Sale Price


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000


REO Short Sale Arm's LengthCondos Median Sale Price

0

200

400

600

800

1,000

1,200


New Listings Single Family

Condo

Source: Sarasota Association of Realtors® MLS


0.05.010.015.020.025.030.0

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

9‐Feb 9‐Mar 9‐Apr 9‐May 9‐Jun 9‐Jul 9‐Aug 9‐Sep 9‐Oct 9‐Nov 9‐Dec Jan‐10 Feb‐10 Mar‐10

Single Family 24.1 17.1 15.2 14.3 10.0 9.0 10.3 9.8 9.3 9.4 8.1 11.5 10.6 7.2

Condo 28.5 21.2 19.1 19.0 16.1 16.9 20.5 15.1 15.0 14.6 12.3 14.7 15.4 11.8

Months of Inventory


$0

$50,000,000

$100,000,000

$150,000,000

$200,000,000



Single Family $85,952,266 $100,562,897 $98,080,096 $124,493,410 $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

Condo $35,987,736 $42,750,598 $39,960,762 $52,908,252 $47,470,370 $37,933,125 $48,128,868 $46,426,400 $43,392,376 $56,455,335 $45,146,896 $43,400,202 $67,589,008

Overall Sales Volume

11267

Annual Sales ‐ 2000 to 2009Single Family Condo Total

9697

11267

10562


6,504

7,596

6,8416533

7036

8167

9697

11267

10562

63586042

6739


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

3,671 3,721

65337036

8167

9697

11267

10562

63586042 5820

6739


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

65337036

8167

9697

11267

10562

63586042 5820

6739


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

65337036

8167

9697

11267

10562

63586042 5820

6739

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

65337036

8167

9697

11267

10562

63586042 5820

6739

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


Annual Median Sale Price ‐ 2000 to 2009 Single Family Condo

$351,000$342,000

$303,000$305,000 $301,225

$336,250$320,000


$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$160,000$142,000 $145,000

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$160,000$142,000 $145,000

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$160,000$142,000 $145,000

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$160,000$142,000 $145,000

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009



0

100

200

300



Single Family 159 173 195 196 208 179 174 186 179 194 169 174 178

Condo 171 206 203 224 225 230 208 250 236 202 207 206 206

Days on Market


0

200

400

600

800

1000

1200

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

Single Family Sales ‐ By Quarter REO Shorts Arm's Length


0

100

200

300

400

500

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

Condo Sales ‐ By Quarter REOs Shorts Arm's Length

Sarasota Realtor Magazine - May 2010

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Transcript of Sarasota Realtor Magazine - May 2010