Sarasota Realtor Magazine - October 2012

The Official Monthly Publication of the Sarasota Association of Realtors®

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OCTOBER 2012

Commission incentive available on contracts accepted by DiVosta Homes between 1/01/12 and 12/31/12. In order for Realtor to eligible for 50% advance commissions, buyer must put down 10% (with the exception of FHA/VA and NOLA). NOLA/cash verification must be presented. Broker must sign the Advance Commission Request Form. Brokers are responsible for repaying all advance commissions for homes that do not close. This offer is subject to change or withdrawal without prior notice. Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 7/2/12. CGC1505166

THE LIFESTYLE YOU DESERVE. THE QUALITY YOU DESIRE.

It’s time for a fresh start in a place that has everything your clients want, right where they want to be. And with world-class amenities, custom designer options and quality, built solid block wall construction, at DiVosta your clients will discover everything they’ve been waiting for.

866-210-3134 | divosta.com

The Isles on Palmer Ranch SARASOTA

From the low $200s | 1,542 - 1,762 sq. ft.3 bedrooms, 2 baths Miles of walking and jogging trailsVillage Center with heated lagoon pool, fitness center, tennis, bocce ball, activity rooms and more

1907 Burgos Drive | Sarasota, FL 34238

IslandWalk at the West Villages NORTH PORT

From the high $100s | 1,392 - 2,611 sq. ft.2-4 bedrooms, 2-3.5 baths Lap pool and tennis courtsResort Center Now Open! Lagoon pool, activity and craft rooms, fitness center, library, bocce ball, basketball and more

13575 Salinas Street | Venice, FL 34293

50% Advance

REALTOR® Commissions

CGC1513647 *Home and community information, including pricing, included features, terms, availability and amenities are subject to change and prior sale at any time without notice or obligation. ++Square footage dimensions are approximate. Pictures, drawing, renderings, elevation, features, colors and sizes are approximate for illustration purposes only and will vary from homes as built. Please contact a sales representative for details.

University Groves Estates, affordably priced and conve-niently located, offers a beautiful selection of move-in ready homes nestled in a quiet, wooded setting.

• Immediate Move-In Ready Homes from the Mid $200s*• 1 & 2 Story Floor Plans Available w/2 Car Garages• Minutes from Beaches, St. Armand’s Circle & Downtown Sarasota• Easy Access to Major Highways

For More Information,Call 866.475.3347

Visit HortonReadyNow.com

Other D.R. Horton Homes in Sarasota: Oak Vistas•Red Hawk Reserve•Kenilworth Estates

Great Deals on Move-In Ready Homes for

You and Your Family!

The Iris • 2879 Sq. Ft. • From the $280s*++

The Marigold • 1749 Sq. Ft. • From the $220s*++

U N I V E R S I T Y G R O V E S E S T A T E S

8147 36th St. E.Sarasota, FL 34243

DRHorton.com/Sarasota • Facebook.com/DRHTampaSarasota

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Commission incentive available on contracts accepted by DiVosta Homes between 1/01/12 and 12/31/12. In order for Realtor to eligible for 50% advance commissions, buyer must put down 10% (with the exception of FHA/VA and NOLA). NOLA/cash verification must be presented. Broker must sign the Advance Commission Request Form. Brokers are responsible for repaying all advance commissions for homes that do not close. This offer is subject to change or withdrawal without prior notice. Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 7/2/12. CGC1505166

THE LIFESTYLE YOU DESERVE. THE QUALITY YOU DESIRE.

It’s time for a fresh start in a place that has everything your clients want, right where they want to be. And with world-class amenities, custom designer options and quality, built solid block wall construction, at DiVosta your clients will discover everything they’ve been waiting for.

866-210-3134 | divosta.com

The Isles on Palmer Ranch SARASOTA

From the low $200s | 1,542 - 1,762 sq. ft.3 bedrooms, 2 baths Miles of walking and jogging trailsVillage Center with heated lagoon pool, fitness center, tennis, bocce ball, activity rooms and more

1907 Burgos Drive | Sarasota, FL 34238

IslandWalk at the West Villages NORTH PORT

From the high $100s | 1,392 - 2,611 sq. ft.2-4 bedrooms, 2-3.5 baths Lap pool and tennis courtsResort Center Now Open! Lagoon pool, activity and craft rooms, fitness center, library, bocce ball, basketball and more

13575 Salinas Street | Venice, FL 34293

50% Advance

REALTOR® Commissions

Sarasota Realtor® MagazineVolume 9, Issue 10

OCTOBER 2012

Sarasota Association of Realtors®, Inc.

3590 South Tuttle Avenue Sarasota, Florida 34239

Phone: 941/923-2315 FAX: 941/923-0191

www.sarasotarealtors.com www.facebook.com/SarasotaRealtors

2012 SAR OfficersPresident

Laura Benson Michael Saunders & Company

President-Elect Roger Piro

Town & Country RealtySecretary

Stafford Starcher RE/MAX Alliance Group

Treasurer Peter Crowley

RE/MAX Alliance GroupImmediate Past President

Michael Bruno Michael Saunders & Company

Chief 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 StaffDirector of Communications

Ray PorterDirector of Membership

and Administrative ServicesDan Andrews

Director of Information TechnologyJesse 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.2012 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited. V

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6 Paradise Found Sarasota has become a popular destination for international

buyers. We examine the impact of this trend, and how it is

shaping local real estate for years to come.

10 Back Amendment 4! Governmental Affairs Director Marc Mansfield explains SAR’s strong support for Amendment 4, and why the real estate community should back this important Constitutional amendment.

12 Senior Exemptions Sarasota County Property Appraiser Bill Furst explains

Income Qualified Senior Exemptions, and how they

impact many of our local residents.

15 August Was Hot! Property sales in August 2012 in the Sarasota market rose as the summer season remained a hot one for local real estate sales, and the inventory dropped to a new decade low.

18 Golf With A Purpose CID President Brad Lindberg provides the scoop on this year’s CID Charity Golf Tournament, and the details on this year’s recipient - Manasota SOLVE.

In every issue10- Governmental Affairs

12- Property Appraiser

15- Sales and Listing Statistics

18- Commercial Investment Division

20- Education Programs

24- On the SAR Scene

30- Membership

32- Calendar of Events/Education

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

See a few of the photos this month on Page 24!

RiddellLaw Group

R L G

3400 S. Tamiami Trail, Sarasota, Florida

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.

Call 941-366-1300 For A FREE CONSULTATION

www.rlglawfirm.com

KNOW YOUR OPTIONSShort Sales Foreclosure Defense Real Estate Closings

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

4 OCTOBER 2012 Sarasota Realtor® Magazine www.sarasotarealtors.com

SAR Board electedSAR Officers and Directors for the 2013 Board of

Directors were elected at the SAR Annual Meeting on Friday, Sept. 14 at Der Dutchman Restaurant.Officers:President: Roger Piro, Town & CountryPresident-Elect: Peter Crowley, RE/MAX Alliance GroupTreasurer: Stafford Starcher, RE/MAX Alliance GroupSecretary: Xena Vallone, Xena Vallone Realty Directors to serve a 3-year term:Steve Bailey, Coldwell Banker ResidentialMarianne LeBar, Michael Saunders & CompanyBrad Lindberg, Sperry Van Ness CommercialRenee Marquiss, Xena Vallone RealtyChristina Pitchford, Allen Real Estate ServicesDirector to serve a 1-year term:David Clapp, RE/MAX Alliance Group

2012 President Laura Benson, Michael Saunders & Company, will continue on the Board as Immediate Past President. Directors whose terms continue in 2013 are: Michael Davenport, King Realty; Joe C. Hembree, Hembree & Associates; Debbie Judge, Michael Saunders & Company; Bob Milhoan, Hembree & Associates; Carla Rayman, Coldwell Banker Residential; Drayton Saunders, Michael Saunders & Company; Bob Stanley, Coldwell Banker Residential; Kristin Triolo, Atchley International; and Amy Worth-Paul, RE/MAX Platinum Realty.

RiddellLaw Group

R L G

3400 S. Tamiami Trail, Sarasota, Florida

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.

Call 941-366-1300 For A FREE CONSULTATION

www.rlglawfirm.com

KNOW YOUR OPTIONSShort Sales Foreclosure Defense Real Estate Closings

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

Donna Evans: SAR Affiliate of MonthDonna Evans of

Goodwill Industries-Manasota has been named SAR Affiliate of the Month for October 2012.

Goodwill Industries-Manasota is located at 7501 15th Street East, Sarasota, FL 34243. Their phone number is 941-355-2721

The local representative is Donna Evans, and the 100-year-old not-for-profit funds its free services through the sale of donated goods. Goodwill Industries-Manasota offers to the community a White Glove Service where trained professionals will come to your home or business to pack up and pick up entire estates FREE OF CHARGE.

A donation receipt is provided. You can also visit their website at www.goodwillindustries.org

Donna Evans

WSarasota has become an international destination

Cove

r Sto

ry Paradise FoundWe live in a global marketplace. And while all

real estate is local, not all property buyers are, especially here in Sarasota. A significant share of home purchases are made by people whose primary residence is outside of the U.S.

According to the National Association of Realtors®, the top five countries of origin for foreign buyers of U.S. homes are Canada, The People’s Republic of China, including Hong Kong, Mexico, India, and the United Kingdom. These buyers often utilize the services of Realtors®- quite a few are members of SAR and of our Global Business Council.

The 2012 NAR Profile of International Home Buying Activity examined purchases of real estate in the United States by international clients for the 12-month period ending in March 2012. The study found:• Total sales volume to international clients was estimated at $82.5 billion in 2012, up from an estimated $66.4 billion for the 12 months ending March 2011 - a 24 percent jump.• Twenty-seven percent of Realtors® reported having worked with international clients. Fifty-two percent of Realtors® had at least one international transaction in the past year.• International buyers came from nearly all over the globe, but five countries cited earlier accounted for fifty-five percent of transactions.• Fifty-one percent of the purchases were in four states: Florida, Arizona, California, and Texas.

Clearly, the global marketplace has arrived, particularly in the real estate industry. The NAR study shows that cultural affinity with the buyer appears to be very important in obtaining international clients. A variety of sources indicate that knowledge of international customs, languages, and culture are important in facilitating sales on the buyer side of the market. Frequently a Realtor® will have language capabilities and personal ties to the country of the prospective purchaser.

These are just some of the reasons to increase your education regarding international business, and to join the Global Business Council for its valuable networking component.

What do you need to know in order to successfully close the transaction? Are your promotions attracting foreign buyers? Do you know how to bring investors and international buyers in your market? Are you

The Global Business Council of the Sarasota Association of Realtors® is hosting the 6th Annual International Real Estate Congress and Sarasota Showcase on Nov. 4-6, 2012.

Several real estate organizations from other states and even foreign locales will be sending representatives to this year’s Congress. This will be the perfect opportunity to network and mingle with potential business contacts from around the globe, expanding your market view from local to global.

The Global Busineass Council offers this major event once each year, and the previous five events have been very well attended and enjoyed tremendous accolades from those who attended.

It could be well worth your time to register for this year’s Congress at www.sarasotarealtors.com. The cost is only $60 - a bargain for the amount of potential business you might garner from the event.

In addition to the event, to be held at the Lido Beach Resort (right on the Gulf of Mexico and beautiful Lido Beach), this year’s Congress will provide the opportunity to view properties for sale on Sarasota Bay while you enjoy a sunset dinner cruise on the luxury yacht Marina Jack II. The cruiise is sponsored by Moneycorp.

The major sponsor so far for this year’s event is:

Congress, Showcaseslated Nov. 4-6

Continued on P. 8, See PARADISE


Here’s the current International Real Estate Congress and Sarasota Showcase itinerary:

Nov. 4, 5-7 p.m. Dinner Cruise/Opening Event, Marina Jacks

Nov. 5, 8:15 a.m. to 9 a.m.Congress Registration and Continental Breakfast Lido Beach Resort, Sarasota

Nov. 5, 9 a.m. Keynote Speaker Dr.John Tuccillo, Lido Beach ResortChief Economist, Florida Realtors®, former Chief Economist, National Association of Realtors®

10 a.m. The Story of Sarasota: Jane Kirschner, Sarasota History Alive, & Jon Thaxton, Sarasota County Commissioner

11 a.m. Panel: Sarasota Architectural Styles Moderator: Phil Chmieleski, Neal HomesGuy Peterson, Office for Architecture; Steve Ellis, My Green Buildings; David Nash, CEO, IME Group Inc.

Nov. 5, 12-5 p.m. Tour Longboat Key, Downtown Sarasota, Siesta Key (progressive lunch and refreshments)Board Buses at Lido Beach Resort for Home ToursTour Longboat Key, Downtown, Siesta Key (Tour may include homes designed by panel architects)

Nov. 6, 9 a.m. Panel: The Market From A Broker’s PerspectiveThe Florida real estate market from

a broker’s perspective – how the landscape has changed in last twelve months as far as sales associates, brokers and major realty corporations are concerned. Moderator: Harold Bubil, Herald Tribune Real Estate Editor; Clark Toole, Coldwell Banker Real Estate, L.L.C.; Pat Neal, CEO, John Neal Homes; and Cammie Longnecker, Taylor Morrison West Florida

10 a.m. Panel: The Sarasota Lifestyle, Lido Beach ResortSarasota’s small town ambience is enriched by its big-city abundance of

visual and performing arts, education institutions, and natural wonders. Moderator: Laura Benson, Michael Saunders & Co., President, Sarasota Association of Realtors; Mary Ann Servian, Managing Director, Sarasota Ballet; Nicole Rissler, Director of Sports, Sarasota Sports Commission; Debra Sandberg, Florida Medical Retreat CEO

11 a.m. International Panel (TBD)Nov. 6, 12-5 p.m. Tour Lakewood Ranch (largest ‘Green’ planned development in the U.S.)(lunch and closing reception)

CongressItinerary

www.sarasotarealtors.com Sarasota Realtor® Magazine OCTOBER 2012 7

prepared to assist your U.S. buyers when they ask about finding properties abroad?

Through the Global Business Council, you’ll quickly learn how to answer these and other questions with a resounding “Yes!”

All of the evidence indicates now is the perfect time to get involved in the local Global Business Council. The mission of the GBC is to provide networking, marketing, education and technological opportunities to its members in order to enhance their success in conducting business in a global real estate market. To date, more than 90 members have signed up, and the SAR Global Business Council expects more than 100 members by the end of the year. GBC members must be

Realtor® members or Affiliate members of SAR. At an annual membership fee of $25, this is very affordable.

Bill Geller is the current chair of the Council, and his vice-chair is Wallace Erickson.

Aside from the annual International Congress, the group also promotes international trips during the year, and provides specialized course instruction for international real estate. This year, the group sponsored an International 201 course in July, entitled “Finding International Clients - Hot Tips and Best Practices.” More than a dozen experienced international practitioners offered their best tips in a roundtable, collaborative format that was very well received.

Remember - it’s never too late to get into the international real estate realm.

Watch for details on the International 301 course coming Oct. 18! In 2012, international is definitely “In!”

PARADISEFrom Page 6

Immobel offers Facebook app - free to SAR members!As a member of a SAR, Immobel is one of your

benefits of membership - translating your web site to 13 languages, to reach the international clients.

You can show your local MLS search / IDX right on your own website in each prospects’ preferred language. Impress Sellers with the Global Marketing you provide, and get the listings you want.

Immobel makes it easy for you to show your listings everywhere in the world, reaching more international buyers in their home countries as well as right in your home town.

Best of all, once you have set up Immobel, it will work for you 24/7 without you ever needing to touch it again!

Your Listings, along with the rest of your MLS listings are automatically updated daily by Immobel, with a direct feed from your MLS. Your prospects can receive daily listing alerts in their own preferred language, automatically and with your photo, branding and contact on every listing.

In addition to the 13-language web site, Immobel now offers, free of charge, an incredible Facebook app - a social marketing tool that will take your international marketingto the next level.

Did you know that in Facebook, more than 70% of all members prefer another language, not English? It’s true, Facebook is a truly global community.

The Immobel “My Listings” App for Facebook also shows your listings on your own Facebook page in 13 languages!

Do not miss out on the wonderful opportunity to show your listings to more than 90 percent of all Facebook users in their preferred languages.

Immobel has slated several webinars during October -

some designed to help you set up your web site, and others to help you with the Facebook app.

Register for an educational session on the following dates by visiting www.sarasotarealtors.com and looking for Immobel Webinars in the Events section on the front page.

Wed, Oct 3, 2012 3:00 PM - 4:30 PM EDTThu, Oct 11, 2012 6:00 PM - 7:30 PM EDTFri, Oct 19, 2012 9:30 AM - 11:00 AM EDTThu, Oct 25, 2012 3:00 PM - 4:30 PM EDTOnce registered you will receive an email confirming

your registration with information you need to join the Webinar.

For the Facebook app, register for a session on the following dates by visiting www.sarasotarealtors.com and looking under Events for Immobel Facebook Webinars:

Tue, Oct 9, 2012 3:00 PM - 4:00 PM EDTMon, Oct 15, 2012 9:30 AM - 10:30 AM EDTMon, Oct 22, 2012 6:00 PM - 7:00 PM EDTPost your listings to Facebook in any language, sending

your listings around the world.Tweet your listings, even post them to Linkedin.So go ahead, check Global and International off your “To

Do” list forever with great tools from Immobel!You can even attend using your iPhone®, iPad®, Android™

phone or Android tablet.


Vote YES on Amendment 4!

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rsThe Sarasota Association of Realtors® strongly

urges our members to Vote YES on Amendment 4 on Nov. 6th!

Amendment 4 is a proposed amendment to the Florida Constitution that will be voted on in November 2012. Passed by the Florida Legislature and placed on the ballot, Amendment 4 includes the following provisions:

- Provides an additional homestead exemption for first time Florida homebuyers, equal to 50 percent of the Just Value of a property up to the median Just Value of a homestead property in that county, which phases out over 5 years by reducing to 40 percent in year 2, 30 percent in year 3, 20 percent in year 4, and 0 percent in year 5;

- Provides a reduction in the non-homestead maximum annual Assessed Value increase cap from the current 10 percent (on non-school levies) to a new level of 5 percent and an extension of non-homestead Assessed Value caps through the 2022 tax year (which also does not apply to school levies).

- Provides legislative authority to eliminate the Save Our Homes “Recapture Rule.”

Florida Tax Watch, a private, non-profit, non-partisan research institute recently completed an independent fiscal and economic analysis of the amendment. Overall, the results indicated passage of Amendment 4 would create jobs, grow Florida’s Gross Domestic Product and increase the personal income of Floridians. Based upon the analysis by Florida Tax Watch, passage of Amendment 4 would specifically:

- Result in the creation of 19,483 private, non-farm jobs over a 10 year period of analysis (2013-2022).

- Increase Florida GDP by approximately $1.1 billion during the same ten year period.

- Increase Personal Income by more than $5.3 billion during the same ten year period.

- Result in additional home sales of between 319,861 and 383,810 during the same ten year period.

The amendment will lower property taxes for new homebuyers, spur economic growth in the housing market and protect families, small business owners and homeowners from unexpected tax increases. Amendment 4 deserves your support on November 6th! (See the full amendment language on P. 11)

GENERAL ELECTION EARLY VOTING WILL BEGIN ON SATURDAY, OCT. 27TH AND END ON SATURDAY NOV. 3RD.

ALL SITES ARE OPEN FROM 7:00 A.M. TO 7:00 PM DAILY.

IMPORTANT: You must be registered to vote by Oct. 9th to be eligible to vote in the Nov. 6th, 2012 election.

SARASOTA SITES:Supervisor of Elections-Sarasota County Terrace

Bldg., 2001 Adams Lane-941-861-8600North County Library-2801 Newton Blvd-861-

1370Fruitville Library-100 Coburn Road-861-2500Gulf Gate Library-7112 Curtiss Ave-861-1230

NORTH PORT SITE:Supervisor of Elections-Biscayne Plaza-13640

Tamiami Trail-423-9540

VENICE SITE:Supervisor of Elections-R.L. Anderson Building

Room 114-4000 Tamiami Trail S.-861-3760

Early Voting LocationsOpen Oct. 27th


(1) This would amend Florida Constitution Article VII, Section 4 (Taxation; assessments) and Section 6 (Homestead exemptions). It also would amend Article XII, Section 27, and add Sections 32 and 33, relating to the Schedule for the amendments. (2) In certain circumstances, the law requires the assessed value of homestead and specified nonhomestead property to increase when the just value of the property decreases. Therefore, this amendment provides that the Legislature may, by general law, provide that the assessment of homestead and specified nonhomestead property may not increase if the just value of that property is less than the just value of the property on the preceding January 1, subject to any adjustment in the assessed value due to changes, additions, reductions, or improvements to such property which are assessed as provided for by general law. This amendment takes effect upon approval by the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, shall take effect January 1, 2013. (3) This amendment reduces from 10 percent to 5 percent the limitation on annual changes in assessments of nonhomestead real property. This amendment takes effect upon approval of the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, takes effect January 1, 2013. (4) This amendment also authorizes general law to provide, subject to conditions specified in such law, an additional homestead exemption to every person who establishes the right to receive the homestead exemption provided in the Florida Constitution within 1 year after purchasing the homestead property and who has not owned property in the previous 3 calendar years to which the Florida homestead exemption applied. The additional homestead exemption shall apply to all levies except school district levies. The additional exemption is an amount equal to 50 percent of the homestead property’s just value on January 1 of the year the homestead is established. The additional homestead exemption may not exceed an amount equal to the median just value of all homestead property within the county where the property at issue is located for the calendar year immediately preceding January 1 of the year the homestead is established. The additional exemption shall apply for the shorter of 5 years or the year of sale of the property. The amount of the additional exemption shall be reduced in each subsequent year by an amount equal to 20 percent of the amount of the additional exemption received in the year the homestead was established or by an amount equal to the difference between the just value of the property and the assessed value of the property determined under Article VII, Section 4(d), whichever is greater. Not more than one such exemption shall be allowed per homestead property at one time. The additional exemption applies to property purchased on or after January 1, 2011, if approved by the voters at a special election held on the date of the 2012 presidential preference primary, or to property purchased on or after January 1, 2012, if approved by the voters at the 2012 general election. The additional exemption is not available in the sixth and subsequent years after it is first received. The amendment shall take effect upon approval by the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, takes effect January 1, 2013. (5) This amendment also delays until 2023, the repeal, currently scheduled to take effect in 2019, of constitutional amendments adopted in 2008 which limit annual assessment increases for specified nonhomestead real property. This amendment delays until 2022 the submission of an amendment proposing the abrogation of such repeal to the voters.

PROPERTY TAX LIMITATIONS; PROPERTY VALUE DECLINE; REDUCTION FOR NONHOMESTEAD

ASSESSMENT INCREASES; DELAY OF SCHEDULED REPEAL


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iser Senior Exemptions:

Age has its privileges

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

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

Every year the mailing of the TRIM Notices brings a flurry of calls to the Property Appraiser’s office. This year the hot topic was the Income Qualified Senior Exemption. In response to those inquiries, here’s the latest information on the benefits available to Sarasota County Seniors.

In 2011, 119,633 people over 65 made their home in Sarasota County. That’s 31.4% of our population!* Because the Senior Exemption is a local option, the benefits vary from place to place within the County. The table below demonstrates the tax savings benefit for 2011. Once the tax rates for 2012 are finalized they will be published on our website, www.SC-PA.com.

The benefits offered to qualified seniors also 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 has not adopted a Senior Exemption.

In order to qualify for the Senior Exemption the homestead owner must be 65 years of age or older on January 1st of the year for which they are filing and the adjusted gross income of their household cannot exceed a limit set by the State of Florida every year. For 2012 the limit was $27,030.

For new applicants, a Sworn Statement of Adjusted Gross Income of Household and Return, form DR-501SC, must be completed and returned to this office along with documentation of household income. That can be a copy of the first page of the applicant’s IRS return or copies of their Social Security Benefits statement and earnings statements from pensions, etc. if they are not required to file a federal income tax return.

In 2012, this office revamped the Senior Exemption renewal process with the introduction of an easier response system where a form is mailed to persons who had the exemption in the prior year and continue to reside on the property. The form provides the current year’s income limit and requires the claimant to check a Renew or Cancel box based on their household adjusted gross income for the prior year and sign the form affirming that they meet the eligibility requirements.

New applications and renewal notifications are mailed once the annual income limit is published at the end of January. Both the Sworn Statement and the Senior Exemption Renewal form must be returned to this office by March 1. Proof of income on new exemptions must be provided no later than June 1.

If you or someone you know will qualify for this exemption for 2013, contact us right away to add their name to the new application mailing list. *http://elderaffairs.state.fl.us

AGE HAS ITS PRIVILEGES Every year the mailing of the TRIM Notices brings a flurry of calls to the Property Appraiser’s office. This year the hot topic was the Income Qualified Senior Exemption. In response to those inquiries, here’s the latest information on the benefits available to Sarasota County Seniors. In 2011, 119,633 people over 65 made their home in Sarasota County. That’s 31.4% of our population!* Because the Senior Exemption is a local option the benefits vary from place to place within the County. The table below demonstrates the tax savings benefit for 2011. Once the tax rates for 2012 are finalized they will be published on our website, www.SC‐PA.com.

The benefits offered to qualified seniors also 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 has not adopted a Senior Exemption. In order to qualify for the Senior Exemption the homestead owner must be 65 years of age or older on January 1st of the year for which they are filing and the adjusted gross income of their household cannot exceed a limit set by the State of Florida every year. For 2012 the limit was $27,030. For new applicants, a Sworn Statement of Adjusted Gross Income of Household and Return, form DR‐501SC, must be completed and returned to this office along with documentation of household income. That can be a copy of the first page of the applicants IRS return or copies of their Social Security Benefits statement and earnings statements from pensions, etc. if they are not required to file a federal income tax return. In 2012, this office revamped the Senior Exemption renewal process with the introduction of an easier response system where a form is mailed to persons who had the exemption in the prior year and continue to reside on the property. The form provides the current year’s income limit and requires the claimant to check a Renew or Cancel box based on their household adjusted gross income for the prior year and sign the form affirming that they meet the eligibility requirements. New applications and renewal notifications are mailed once the annual income limit is published at the end of January. Both the Sworn Statement and the Senior Exemption Renewal form must be returned to this office by March 1. Proof of income on new exemptions must be provided no later than June 1. If you or someone you know will qualify for this exemption for 2013 contact us right away to add their name to the new application mailing list.

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

LOCATION COUNTY EXEMPTION

MUNICIPAL EXEMPTION

TAX SAVINGS (2011)

Unincorporated County $5,000 ‐ $19.99City of Sarasota $5,000 $25,000 $99.94City of Venice $5,000 ‐ $19.99Town of Longboat Key $5,000 $25,000 $65.66City of North Port $5,000 ‐ $19.99

Articles, Statutes and Rules Governing Senior 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. §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

50% Advance REALTOR® Commissions

Commission incentive available on contracts accepted by Centex between 1/01/12 and 12/31/12. In order for Realtor to eligible for 50% advance commissions, buyer must put down 10% (with the exception of FHA/VA and NOLA). NOLA/cash verification must be presented. Broker must sign the Advance Commission Request Form. Brokers are responsible for repaying all advance commissions for homes that do not close. This offer is subject to change or withdrawal without prior notice. Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 7/2/12. CBC057850.

Put yourself in a better place™

get ready for new home designs that accommodate everything, even your client’s budget.

We think your clients should get everything they want when buying a new home. That means even newer, more flexible living spaces designed to fit their lifestyle at prices they can afford. Centex is offering new floor plans and more design options so your clients can definitely find the home they’ve been waiting for. It’s everything your clients want in the affordable comfort of a new Centex home.

Call 866-290-9110 or visit centex.com to learn more.

VENETIAN FALLS | VENICE FROM THE MID $100s•1,448-2,165sq.ft.

•2-3BedroomVillasand SingleFamilyHomes

•Clubhouse,ResortPool, andFitnessCenter

RIVERWOOD | PORTCHARLOTTE FROM THE MID $100s•1,557-3,193sq.ft.

•2-4BedroomCarriageHomes andSingleFamilyHomes

•Clubhouse,GolfCourse andBeachClub

CypRESS FALLS | NORTHPORTFROM THE MID $100s•1,701-1,911sq.ft.

•2-3BedroomSingleFamilyHomes

•Clubhouse,ResistancePool, PuttingGreenandMore

AGE HAS ITS PRIVILEGES Every year the mailing of the TRIM Notices brings a flurry of calls to the Property Appraiser’s office. This year the hot topic was the Income Qualified Senior Exemption. In response to those inquiries, here’s the latest information on the benefits available to Sarasota County Seniors. In 2011, 119,633 people over 65 made their home in Sarasota County. That’s 31.4% of our population!* Because the Senior Exemption is a local option the benefits vary from place to place within the County. The table below demonstrates the tax savings benefit for 2011. Once the tax rates for 2012 are finalized they will be published on our website, www.SC‐PA.com.

The benefits offered to qualified seniors also 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 has not adopted a Senior Exemption. In order to qualify for the Senior Exemption the homestead owner must be 65 years of age or older on January 1st of the year for which they are filing and the adjusted gross income of their household cannot exceed a limit set by the State of Florida every year. For 2012 the limit was $27,030. For new applicants, a Sworn Statement of Adjusted Gross Income of Household and Return, form DR‐501SC, must be completed and returned to this office along with documentation of household income. That can be a copy of the first page of the applicants IRS return or copies of their Social Security Benefits statement and earnings statements from pensions, etc. if they are not required to file a federal income tax return. In 2012, this office revamped the Senior Exemption renewal process with the introduction of an easier response system where a form is mailed to persons who had the exemption in the prior year and continue to reside on the property. The form provides the current year’s income limit and requires the claimant to check a Renew or Cancel box based on their household adjusted gross income for the prior year and sign the form affirming that they meet the eligibility requirements. New applications and renewal notifications are mailed once the annual income limit is published at the end of January. Both the Sworn Statement and the Senior Exemption Renewal form must be returned to this office by March 1. Proof of income on new exemptions must be provided no later than June 1. If you or someone you know will qualify for this exemption for 2013 contact us right away to add their name to the new application mailing list.

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

LOCATION COUNTY EXEMPTION

MUNICIPAL EXEMPTION

TAX SAVINGS (2011)

Unincorporated County $5,000 ‐ $19.99City of Sarasota $5,000 $25,000 $99.94City of Venice $5,000 ‐ $19.99Town of Longboat Key $5,000 $25,000 $65.66City of North Port $5,000 ‐ $19.99

Articles, Statutes and Rules Governing Senior 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. §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


50% Advance REALTOR® Commissions

Commission incentive available on contracts accepted by Centex between 1/01/12 and 12/31/12. In order for Realtor to eligible for 50% advance commissions, buyer must put down 10% (with the exception of FHA/VA and NOLA). NOLA/cash verification must be presented. Broker must sign the Advance Commission Request Form. Brokers are responsible for repaying all advance commissions for homes that do not close. This offer is subject to change or withdrawal without prior notice. Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 7/2/12. CBC057850.

Put yourself in a better place™

get ready for new home designs that accommodate everything, even your client’s budget.

We think your clients should get everything they want when buying a new home. That means even newer, more flexible living spaces designed to fit their lifestyle at prices they can afford. Centex is offering new floor plans and more design options so your clients can definitely find the home they’ve been waiting for. It’s everything your clients want in the affordable comfort of a new Centex home.

Call 866-290-9110 or visit centex.com to learn more.

VENETIAN FALLS | VENICE FROM THE MID $100s•1,448-2,165sq.ft.

•2-3BedroomVillasand SingleFamilyHomes

•Clubhouse,ResortPool, andFitnessCenter

RIVERWOOD | PORTCHARLOTTE FROM THE MID $100s•1,557-3,193sq.ft.

•2-4BedroomCarriageHomes andSingleFamilyHomes

•Clubhouse,GolfCourse andBeachClub

CypRESS FALLS | NORTHPORTFROM THE MID $100s•1,701-1,911sq.ft.

•2-3BedroomSingleFamilyHomes

•Clubhouse,ResistancePool, PuttingGreenandMore

MBy Jo Ann M. Koontz, Esq., CPARealtor®-Attorney Joint Committee

Despite the growing number of property owners participating in a short sale, loan modification, deed in lieu or foreclosure, there is still quite a bit of confusion regarding the tax consequences for borrowers. Forgiveness of debt, in full or in part, is typically approved by short sale lenders and occasionally occurs following foreclosures. Debt forgiveness is certainly welcomed by most borrowers but unfortunately may result in harsh tax consequences.

If a lender chooses to release a borrower from some, or all, of an outstanding loan obligation, it is required to issue a Form 1099-C which reports the cancellation of debt. Although the borrower is not receiving cash, the IRS considers the extinguished debt obligation to be taxable income. In order to understand the problem and the potential solutions, it is important to understand the reason that forgiven debt is treated as income. At the time the loan was made, the loan proceeds were not included in the taxable income of the borrower because there was an obligation to repay the loan. However, when the debt is forgiven, the obligation to repay the loan goes away, and taxable income is triggered. For example, if the borrower loan balance is $300,000, the lender receives $200,000 in proceeds from a short sale and forgives the remaining $100,000 shortfall, the IRS’ position is that the borrower has $100,000 of income that no tax has been paid on. IRS does not consider the fact that the loan proceeds were “spent” on the property, which has lost value. The result is phantom income, meaning that the borrower has not received cash from the sale proceeds with which to pay the tax. The amount of debt forgiven by lenders, particularly in short sales, can be substantial, and may result in unexpected taxable income and higher tax rates.

To provide some relief to struggling homeowners potentially facing crippling tax liability, Congress passed the Mortgage Debt Forgiveness Relief Act (the “Act”) in December of 2007. The Act offers relief to borrowers by excluding some or all of the forgiven debt from taxable income, subject to certain conditions. To be eligible, a borrower must establish that the debt forgiven was incurred to purchase, construct, or substantially improve the borrower’s principal residence, as defined in Internal Revenue Code Sections 121 and 163(h). A further limitation of the Act holds that the exemption only applies to the first $2 million of debt released. The Act has been extended several times, but is currently set to expire December 31, 2012. Congress has not yet indicated whether it will again be extended.

Borrowers often mistakenly believe that a Principal

Residence, as defined by the IRS, is synonymous with a homestead, as defined by Florida law. However, one should never assume that a designated homestead will qualify as a Principal Residence for IRS tax purposes. A Florida homeowner has the ability to designate their newly purchased property as their homestead as soon as they begin to occupy the property as their main home, whereas property may only be considered a Principal Residence if the residence has been owned and occupied by the homeowner as their main home for at least two of the last five years immediately preceding the date the debt is forgiven. In the context of a short sale, the date the debt is released may or may not be the date of closing as, in some instances, the deficiency is negotiated after completion of the short sale.

As stated above, to qualify for relief provided by the Act the loan proceeds must have been used for the purchase, construction, or substantial improvement of the property. This requirement disqualifies debt, or any portion thereof, incurred and used for any other purposes, such as vacations, business investments, or to pay off credit cards or car loans. This is especially problematic where homeowners obtained home equity lines of credit (HELOC) or second mortgages which could be used for any purpose.

Cancellation of debt income, when exclusions do not apply, can cause other complications to the borrower’s tax return as well. Not only is additional taxable income a possibility, but the result may also be an adjustment in tax rate or bracket, which can phase the taxpayer out of certain deductions they are accustomed to taking. Although one may traditionally fall into a lower tax bracket, cancellation of debt may substantially increase a borrower’s taxable income and their total income could be taxed at a higher tax rate. It is not uncommon to see as much as $150,000, or more, granted in debt

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Tax Impacts of Short Sales: The Long and Short

Continued on P. 25, See SHORT SALES


MSarasota market remains hot in August

Members of the Sarasota Association of Realtors® sold 819 properties in August 2012, up 36 percent from last August as the hot summer sales market in local real estate showed no signs of cooling off.

The breakdown was 587 single family homes and 232 condos sold, compared to last August, when only 445 single family and 156 condos sold (for a total of 601 closed sales). The August sales reversed the July 2012 trend, when sales dropped to 699. July has been a slower sales month for the past few years, but the strong rebound in August was unexpected and welcomed by local Realtors®.

“The old adage says all real estate is local, and in Sarasota, we are experiencing a resurgent, vibrant, energized market – the best we’ve seen since the end of the boom years in 2006,” said SAR President Laura Benson. “SAR members have been reporting incredible sales numbers, and competition for available properties is high due to the very low inventory. My advice to buyers would be to get off the fence – you might miss out on your dream home.”

The summer of 2012 has been a busy time for many local real estate agents, with multiple offers common on most properties for sale. Foot traffic has been reported as strong and steady at open houses, and there has been no lull in activity since the end of the traditional season after Easter.

The second quarter in 2012 was statistically the best in seven years, and the third quarter is trending higher as well.

Pending sales (which represent properties that went under contract during the month) also rose in August 2012 to 953, up from July’s figure of 919 and June’s total of 860. Last August, pending sales stood at 813, so this year’s activity was 16 percent higher. Pending sales are a good indicator of the future market sales totals, so September numbers would be expected to best last September when sales dropped to 570.

“We remain significantly ahead of the pace of sales in 2011,” said SAR President Laura Benson. “Sarasota is always a great place to buy real estate, in the best of times and the worst of times, so I’m confident in our future market.”

The median sale price for single family homes in August 2012 was down slightly from July 2012, dropping to $169,945 from $178,000 in the previous month. The median for the past 12 months was at $169,000 – holding steady from the July figure. For condos, prices dropped to a greater degree – down to $149,000 from $176,000 in July. Condo prices are usually more volatile month to month, which is generally attributed to the level of high-end properties sold in any given month. August saw a lull in higher priced condo sales, and combined with an increase in sales of foreclosures and short sales in the category, the median price saw a 15 percent drop in August. However, the 12-month running median for condos was $163,950, exactly the same as last year at this time.

The available inventory of homes on the market once again dropped to yet another decade low of 3,504, which

was almost 4 percent below last month’s figure of 3,644. Last year at this time, there were roughly 20 percent more available properties in the local market. Lack of inventory – notably in lower price ranges – is limiting buyer choices in an increasing number of markets around the country, according to the latest quarterly report by the National Association of Realtors® (NAR).

The months of inventory remained near 10-year lows. The August figures were 3.8 months of inventory for single family homes, down from July’s 4.5 months; and 5.5 months for condos, down from July’s figure of 7.5 months. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last August, there were 6.3 months of inventory for single family homes and 10.2 months of inventory for condos. At the worst point of our market in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos.

Currently, only 570 properties for sale in the MLS are listed as short sales or foreclosures, down slightly from last month’s figure of 575 properties. This represents about 16.3 percent of available properties, slightly higher than last month’s figure of 15.8 percent, but down from January 2012 when the figure was 17 percent of the market.

“My advice to buyers would be to get off the fence - you might miss out on

your dream home.”- SAR President Laura Benson


Sarasota MLSSM Statistics - August 2012 Sarasota MLSSM Statistics - August 2012

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Sept. 10th, 2012,including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse.

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

2011 94.5 94.1 94.7 94.1 94.2 94.3 94.1 94.5 95.2 95.1 95.3 94.8 2012 95.4 94.2 94.6 94.7 95.1 95.2 94.2 95.3 ‐ ‐ ‐ ‐

Single Family

#Active #Sold %Sold AverageDOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported %Pending # New

Listings # Off Market

This Month 2,221 587 26.4 163 $169,945 $169,000 3.8 725 32.6 649 155 This

Month Last Year

2,817 445 15.8 180 $165,500 $157,000 6.3 618 21.9 669 186

Last Month 2,329 523 22.5 167 $178,000 $168,500 4.5 703 30.2 683 146

YTD ‐ 4,348 ‐ 170 $175,000 ‐ ‐ 5,971 ‐ 5,139 ‐

Source: Sarasota Association of Realtors®

$0

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$250,000

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

Single Family

CondoMedian Sale Price


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200

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Sarasota MLSSM Statistics - August 2012 Sarasota MLSSM Statistics - August 2012

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

Condo

#Active #Sold %Sold Average DOM

Median Sale Prices

Median Last 12 Months

Months ofInventory

Pending Reported %Pending # New

Listings # Off

Market This

Month 1,283 232 18.0 166 $149,000 $165,000 5.5 228 17.8 247 131 This

Month Last Year

1,591 156 9.8 210 $165,000 $163,950 10.2 195 12.2 222 215

Last Month 1,315 176 13.4 211 $176,000 $167,000 7.5 216 16.4 248 143

YTD ‐ 1,807 ‐ 196 $178,800 ‐ ‐ 2,188 ‐ 2,116 ‐

Sarasota Association of Realtors® MLS

0100200300400500600700800900


Pending Sales Single FamilyCondo


0

500

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InventorySingle FamilyCondo

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

2011 93.4 91.2 92.2 93.4 94.5 94.2 92.5 93.1 92.8 93.2 93.6 92.7 2012 93.1 93.5 94.2 94.3 93.8 93.8 94.6 94.1 ‐ ‐ ‐ ‐


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Officers:President: Brad Lindberg, Sperry Van NessPresident-Elect: Linda Emery, Sperry Van NessVice-President: Tim Mapp, Mapp RealtySecretary: Dave Roth, RE/MAX AllianceTreasurer: Lori Hellstrom, Osprey Real Estate ServicesPast President: Anthony Homer, Ian Black Real Estate

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

2012 CID Officers & Directors

CID General Membership MeetingDate: Tuesday, Oct. 16th, 8:30 a.m.Location: SAR Auditorium; Program: TBDCID Members OnlyCID Charity Golf TournamentDate: Monday, Oct. 29th, 10 a.m.Location: Founders Club, 9000 Fruitville Rd.

Commercial Marketplace Sessions- Friday, Oct. 5th, 9 a.m. – SAR Auditorium- Friday, Oct. 12th, 9 a.m. – SAR Auditorium- Friday, Oct. 19th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL- Friday, Oct. 26th, 9 a.m. – SAR Auditorium

CID slates meetings for October 2012

By Brad LindbergCID President

One of the most rewarding responsibilities of taking on the leadership of SAR’s Commercial Investment Division is the annual Golf Tournament CID holds each year to raise money for a community charity worthy of our help.

This year CID has chosen SOLVE Maternity Homes. SOLVE Maternity Homes provides a comprehensive program for pregnant women of all ages who are alone and prepares them and their newborns for independent living, providing a vision of hope for the future through empowerment, education and training.

Many charities have national backing and get lots of contributions, but SOLVE is a local charity that was established in 1976 and has helped over 1,100 women find their way back into society through education and job placement while providing a safe and loving environment for them to bring their babies into the world. CID is proud to provide a contribution for this great heart felt organization that is committed to protecting our greatest asset…the future children of our community.

Many of these women are victims of incest, rape or have been shunned by their families and left to go through their pregnancies alone. They are individuals that seek the help from SOLVE with the desire to provide a better life for themselves and their babies. They are committed to bettering themselves through education and new work skills to reincorporate themselves back into society.

The one thing we all can agree on is that we came into this world by no choice of our own. No matter

what the circumstance of our humble beginnings, we also can all agree that somewhere along the line there was someone who cared for us to get us where we are today. CID is honored to be one of those helpful hands.

On Oct. 29, 2012, we will hold the 2012 CID Golf Tournament at the prestigious Founders Club. This pristine golf venue situated among 100 year old oak trees is the perfect venue for the celebration of life. Please join us for a day of fun and fellowship while feeling good about supporting a great cause.

For more details go to www.sarasotarealtors.com/CIDgolftournament or call Marc Mansfield, CID Liaison at 941-328-1159. If you would like to be a sponsor, email Sara Olesen, Tournament Chairman at [email protected].

Your support will be greatly appreciated.

Teeing it up for SOLVE on Oct. 29th


‘Green’ still pays for Class A office buildingsBy Mariwyn EvansRealtor® Magazine

Editor’s Note: The new SAR headquarters is being built to LEED standards.

Even in a slow economy, giving your existing office building an environmentally focused retrofit could yield a rent premium, says Norm G. Miller, a professor at the Burnham-Moores Center for Real Estate at the University of San Diego and co-author of the paper The Economics of Green Retrofits.

How much will a green retrofit of an office building yield in additional revenue?

Our research looked at 374 Class A and Class B office buildings that held a LEED Existing Building: Operations and Maintenance certification from the U.S. Green Building Council. We found that these EBOM-certified buildings averaged 7.1 percent higher rents than comparable buildings that weren’t certified. If the building also had an Energy Star rating from the U.S. Department of Energy, that rent premium rose to 10 percent.

Of course, there are differences in the rent premium depending on the market and the type of tenant. For example, larger public companies and financial firms are more likely to choose a green building. Federal offices are now required to choose green buildings.

New York and Boston have the biggest increases in rent after green retrofits, perhaps because they don’t have enough new LEED-certified office buildings relative to demand. Dallas-Ft. Worth and Washington, D.C., also saw significant premiums for green development. Cities like Cleveland, which were particularly hard-hit by the recession, saw the smallest rent differential, probably because tenants in these areas were more sensitive to rental price.

Has the economic slowdown reduced the rent premium tenants will pay?

We have seen a slight drop in the rent differential for green buildings since our original study in 2008. But I think the decline has less to do with the economy than with the tremendous growth in the number of LEED-certified and Energy Star buildings. In 2005, only 5 percent of office square footage was green. It was 12.5 percent in 2010, and I expect it will reach 15 percent by the end of 2012.

Why are tenants willing to pay more for green?

Operating expenses and thus pass-throughs are lower in most green buildings so tenants can afford to pay higher rents without increasing overall occupancy costs. In our survey, 59 percent of owners saw a drop in operating expenses after a retrofit. There is also the perception that workers are more productive in green buildings because of more natural light and better air quality.

Are green buildings becoming essential to attract tenants?I can’t imagine that anyone would build a Class A

office building today that wasn’t LEED-certified. And green construction and retrofits are also gaining traction in retail and industrial. The economic decision to do a green retrofit has also become easier because of the drop in the prices of many energy-efficient products. An LED light bulb that cost $60 three years ago now costs half that.

With all these positives, why aren’t even more building owners and managers undertaking green retrofits?

In part, technology is changing so fast and the cost of many green products is falling so rapidly that owners and managers are hesitating because they think prices will fall even further. But prices are beginning to stabilize now, so more owners may decide now is the time to get up to speed and go green.


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Title: CRS 200: Business Planning & MarketingDate: Oct. 30, 8 a.m.Instructor: Gee DunstenCost: Earlybird $275 before Oct. 16; $300 after

Here’s your chance to take one of the prestigious CRS courses locally! The Business Planning & Marketing Course (CRS 200) from the Council of Residential Specialists will help you create a strong business that will withstand any market condition—while making a profit.

Upon the successful completion of this course, the student will be able to:

• Develop a business plan to focus your business and start

making educated financial decisions

• Determine financial goals to create a budget and increase your profits to last through retirement

• Create a marketing plan that works with your objectives to get your listings sold

• Identify action plans to implement that will work for you to achieve long-term personal and professional goals

CRS educators are leading professionals who bring practical experience to each course, cutting through the hype and offering you real-world solutions. In CRS two-day courses you’ll meet other top agents for prime networking opportunities.

Work smarter to earn more with CRS 200

Gee Dunsten

The Code of Ethics is central to the Realtor® organization – so essential, in fact, that the National Association of Realtors® (NAR) has mandated that all Realtors® complete a 2.5-hour training every four years as a condition of membership. The current 4-year Cycle (Cycle 3) ends December 31, 2012. If you have not completed ethics training between January 1, 2009 and December 31, 2012, your Realtor® membership and related services, including MLS, will be suspended until you are in compliance.

If you are not sure when you last took the Code of Ethics, please call Catherine McCaskill at 941-328-1167.

If you need to complete the Code of Ethics, you have four training options:

Live classroom instructor (SAR members free) at SAR on the following dates (registration required):

- October 15, 9 am-Noon or 1-4 pm (3 hours CE) - November 12, 1-4 pm - November 19, 9 am-Noon or 1-4 pm (3 hours CE) - December 10, 1-4 pm - December 19, 9 am-Noon or 1-4 pm (3 hours CE) NAR Online class (free) visit http://www.realtor.

org/code-of-ethics/training/for-existing-members (short test required at end of course). NAR will notify SAR within ten days that you have completed the course.

Online class with CE (3 hours $15; or 4 hours $20) through SAR’s website (Education tab). Visit the SAR web site - www.sarasotarealtors.com - to view the options and sign up. (short test required at end of course)

DVD: A high-quality video with professional actors is available for brokers or office managers to check out from SAR to hold training in their office, certifying attendance of agents who attend the training.

Please call SAR at 941-923-2315 if you have questions.

Have you completed Code of Ethics training?


3590 S. Tuttle Avenue, Sarasota, FL

Spring Schedule 2013

Sales Associate Pre-License CourseSA-5: January 10-February 9, 2013Class starts January 10 at 5:00 p.m.

Earlybird Tuition: $339 (includes manual, Florida Real Estate Principles, Practices and Law, 35th Edition) (register at least 10 days in advance of class to receive Earlybird price)

Regular Tuition: $364Tuesday & Thursday, 5 to 10 p.m.AND Saturdays, 8:30 a.m. to 1:30 p.m.End of Course Exam: On last day of courseEach class limited to 20 students

Instructor: Michael W. Davenport Location: 3590 South Tuttle Avenue

Conference Room ASarasota, FL 34239

Broker Pre-License CourseBK-2: February 9-March 16, 2013Class starts: February 9 at 5:00 p.m.

Earlybird Tuition: $395(includes manual Florida Real Estate Brokers Guide, 4th Edition) register at least 7days in advance of class to receive Earlybird price)

Regular Tuition: $420 (SAR members: 10% discount)

Tuesdays and Thursdays, 5 to 10 p.m. AND Saturdays, 8:30 a.m. to 1:30 p.m. Class limited to 15 studentsEnd of course Exam: On last day of courseInstructor: Michael W. DavenportLocation: 3590 South Tuttle Avenue

Conference Room A Sarasota, FL 34239

REGISTRATION FORM (PLEASE PRINT) CIRCLE COURSE CODE: SA-5 BK-2

Name Cell Phone `

Address

E-Mail: Social Security #

Current RE License# (if any) Type of License (Circle One) SL BK

My check for $ is enclosed or, charge my VISA MasterCard AMEX

Card No. Expire. Date

Signature

Sarasota Association of REALTORS®, 3590 S. Tuttle Ave., Sarasota, FL 34239 Fax: (941) 923-0191 Phone: (941) 923-2315

Preferred registration method for SAR members: Register online at sarasotarealtors.com.

If you need special accommodation because of a disability, please let us know.

Gain knowledge to enter real estate upper tierTitle: Certified Luxury Home Marketing SpecialistDates: March 19-20, 2013 at 8:30 a.m.Instructor: Laurie Moore-MooreCost: $495 Earlybird by Oct. 15, 2012; $550 after

Training for the Certified Luxury Home Marketing Specialist designation is designed to help sales professionals who currently work in the upper tier move to the next level, or to help those just beginning to target the luxury market jump-start their business.

Learn what wealthy buyers and sellers say are the “real secrets” to capturing their business and delivering outstanding service. This intensive two-day CLHMS training is the first step in earning the coveted CLHMS designation. Upon completion of the training you will become a Membr of The Institute.

Members of the Institute are part of an exclusing, international network of active luxury agents and enjoy a host of valuable benefits and discounts.

Recognized as the mark of accomplishment in luxury markets around the world, the Certified Luxury Home Marketing Specialist (CLHMS) designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence, and confidence they require.

Attend this valuable training & discover how to:

• Reach more affluent prospects• Increase your average price• List and sell more luxury homes• Deliver outstanding service to affluent buyers and sellers

Laurie Moore-Moore


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

1730 Independence Blvd., Sarasota, FL 34234(941) 351-1515 • (941) 351-8639 F • www.coastalprint.com

[email protected]

SAR’s 2012 Leadership Program graduates were recognized at the anual meeting on Sept. 14th. They are (left to right): Joyce Steward; Alfredda Smith-Odato; Brian McGreevy; David Roth; Catherine Lamphier; Alex Krumm; Ellen Laura Esses; Steve Robinson; Tracey Bodmer; DuRynda Brusco; Ronnie Caron; and Linda Zuffa (not pictured - Beth Dilley). Congratulations!


My Florida Regional MLS offers new courses

Pre-registration is required for all MLXchange classes at www.mfrmls.com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot! If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR).

MLXchange BasicOct. 1 or Oct. 15, 9 a.m. to NoonMandatory session for all new users.Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work.- Review the home page features - Add a new client from the search- Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing the hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information MLS Compliance 101Oct. 1 or Oct. 15, 1 to 2:30 p.m.Mandatory session for all new users.In this course you will learn about the My Florida Regional MLS Rules and Regulations, and the compliance

procedures for accuracy of listing data, along with educational materials available on MFRMLSUniversity.com- Rules and Regulations- Profile Sheet Terms- iSmart Tool

Adding/Modifying Listings in MLXchangeOct. 1 or Oct. 15, 3 to 4:30 p.m.Mandatory class if you will be entering/updating your own listings.You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.- Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet

Advanced Web Page Customization Oct. 9, 9 to 11 a.m.This class will cover the advanced features and customization of your Agent Web Page.

Adding & Managing ContactsOct. 9, 11:30 a.m. to 12:30 p.m.This class will teach you how to use the MLS as a Client Management System. You will be taught how to add clients, edit and manage contact info, and much more.

Creating a Professional CMAOct. 9, 1:30 to 4:30pmSAR (Sarasota) - iMapp - Interactive Tax & Mailing LabelsOct. 22, 9 to 11:30 a.m.

In this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area.- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones- Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches

StatisticsOct. 22, 1 to 2:20 p.m.This class will teach you how to utilize marketplace statistics that are available through the MLS or member benefit products.

• Data Co-op• MLXchange stats• iMapp stats• Stats IQ• Market Conditions

Agent Marketing ToolsOct. 22, 3 to 4:30 p.m.This class will introduce you to Member Benefits that will provide you with valuable tools for your marketing. • MyFloridaHomesMLS.com• Proxio• Kurio• DPR


SAR

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s


Photos byJesse Sunday

New Era of Progress for SAR!

This was the view in late August of the site of the new SAR headquarters at the northwest corner of Cattlemen Road and Colonial Oaks Boulevard.

Vertical construction began in September at the new SAR headquarters site as Halfacre Construction crews started work on the actual building shell.

The new SAR headquarters at the northwest corner of Cattlemen Road and Colonial Oaks Boulevard should be completed by the early summer months of 2013.



T H I R D A N N U A L

of the

You Will Be Invited via e-Mail from SAR We hope to See You theRe!

The Affiliates of the

Sarasota Association

of Realtors® will once

again host a magical

night of celebrating

A ChAnge of SeASon.

As always, SAR

Realtor® members

only are invited as our

guests at no charge.

JoIn uS WeDneSDAY, oCtoBeR 24at the SAR Auditorium

from 5-8 pm for this

special evening.

Dress: Business Casual

GALAIt’s the Last Gala

at our present location!

of memories with us

Celebrate 35 years

as SAR moves

into the future...

Wednesday, october 24, 2012 n 5-8 pm

forgiveness which could easily result in a higher tax rate for many borrowers.

The Internal Revenue Code also provides for an insolvency exclusion which exempts forgiven debt for a taxpayer, to the extent of their insolvency. Insolvency is the difference between the taxpayer’s outstanding liabilities and the fair market value of all assets held on the date of sale or debt forgiveness. To the extent that the taxpayer’s liabilities are greater than the value of the assets, that difference can be used to exclude cancellation of debt income from taxable income. For example, assume the taxpayers liabilities, including the mortgage debt forgiven, total $500,000 and the fair market value of all the assets, including the property sold, total $400,000. The difference ($500,000-$400,000) of $100,000 is the extent of their insolvency. That means up to $100,000 of 1099-C income can be excluded from taxable income. Assets used in this calculation include creditor protected assets, such as retirement accounts. A borrower should never assume that they qualify for this exemption by virtue of the fact that there is negative equity in their home. To determine eligibility for the insolvency exclusion, a detailed analysis of a taxpayer’s assets and liabilities would need to be performed. Unlike the exemption provided by the Act, this exclusion is available for investors.

Lenders are required by law to report on Form 1099-C any release of debt greater than $600 and have no discretion to withhold such information. The resulting tax liability occurs upon the release of loan obligation, not upon the issuance of the 1099-C. Not only does the lender have a reporting obligation, but the borrower must also report this liability on their tax return for that year. Failure to do so can result in a 25% underreporting penalty and an increased audit period from three to six years.

Some borrowers believe that foreclosure may allow them to circumvent tax liability, but release of debt may occur following completion of a foreclosure. Again, the borrower has no ability to request the lender not issue the 1099-C, and if the lender chooses to release the debt following the foreclosure action, either on its own accord or in response to post-deficiency negotiations, the debt forgiven will likely be much larger and the incidental tax liability much greater due to the additional costs and fees that accumulate and grow the

balance of a loan throughout a foreclosure action.Borrowers also believe bankruptcy to be a potential solution

to tax liability. This may be accurate depending upon when the borrower files bankruptcy. Income tax liability is not typically dischargeable and if the forgiveness of debt occurs prior to the bankruptcy filing, it will likely remain.

Tax consequences resulting from short sales, loan modifications, and foreclosures are fact specific and should always be evaluated by a professional. In many cases, tax planning can help a borrower legally avoid or minimize the tax consequences of their transaction. If the borrower proceeds without planning for the tax impact of the transaction, they are often unpleasantly surprised with the outcome.

Information provided by RAJC - Jo Ann M. Koontz, Esq., CPA, Koontz & Associates, PL, 1819 Main Street, Suite 215, Sarasota, FL 34236

SHORT SALESFrom Page 14


CONGRATULATIONS! Dedication and hard work pay off!! We congratulate our members who have successfully completed the Graduate,

Realtor® Institute (GRI)!

GRADUATE, REALTOR® INSTITUTE (GRI)Stephen C. Rider Florida Internet Realty, LLCRoberta Tengerdy Premier Sotheby’s Inter. RealtyCorbett Donovan Atchley International RealtyJennifer Putnam Michael Saunders & CompanySamuel Erb Harry Robbins Assoc. Inc.Scott E. Johnson Caron Realty, Inc.Kanoa Wegesend RE/MAX Alliance GroupDeborah Codella Coldwell Banker Residential RE

Sensible lending standards urged by NARNew survey findings, combined with an analysis of historic

credit scores and loan performance, show home sales could be notably higher by returning to reasonably safe and sound lending standards, which also would create new jobs, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said there would be enormous benefits to the U.S. economy if mortgage lending conditions return to normal. “Sensible lending standards would permit 500,000 to 700,000 additional home sales in the coming year,” he said. “The economic activity created through these additional home sales would add 250,000 to 350,000 jobs in related trades and services almost immediately, and without a cost impact.”

A monthly survey of Realtors® shows widespread concern over unreasonably tight credit conditions for residential mortgages. Respondents indicate that tight conditions are continuing, lenders are taking too long in approving applications, and that the information lenders require from borrowers is excessive. Some respondents expressed frustration that lenders appear to be focusing only on loans to individuals with the highest credit scores.

Even though profits in the financial industry have climbed back strongly to pre-recession levels, lending standards still remain unreasonably tight.

Yun said all it takes is a willingness to recognize that market conditions have turned in the wake of an over-correction in home prices, with all of the price measures now showing sustained gains. “There is an unnecessarily high level of risk aversion among mortgage lenders and regulators, although many are sitting on large volumes of cash which could go a long way toward speeding our economic recovery. A loosening of the overly restrictive lending standards is very much in order,” he said.

Respondents to the NAR survey report that 53 percent of loans in August went to borrowers with credit scores above 740. In comparison, only 41 percent of loans backed by Fannie Mae had FICO scores above 740 during the 2001 to 2004 time period, while 43 percent of Freddie Mac-backed

loans were above 740.In 2011, about 75 percent of total loans purchased by

Fannie Mae and Freddie Mac, which are now a smaller market share, had credit scores of 740 or above.

There is a similar pattern for FHA loans. The Office of the Comptroller of the Currency has defined a prime loan as having a FICO score of 660 and above. However, the average FICO score for denied applications on FHA loans was 669 in May of this year, well above the 656 average for loans actually originated in 2001.

Loan performance over the past decade shows the 12-month default rate averaged just under 0.4 percent of mortgages in 2002 and 2003, which is considered normal. Twelve-month default rates peaked in 2007 at 3.0 percent for Fannie Mae loans and 2.5 percent for Freddie Mac loans, clearly showing the devastating impact of risky mortgages.

Yun said home buyers in recent years have been highly successful. Since 2009, the 12-month default rates have been abnormally low. Fannie Mae default rates have averaged 0.2 percent while Freddie Mac’s averaged 0.1 percent, which are notable given higher unemployment in the timeframe.

Under normal conditions, existing-home sales should be in the range of 5.0 to 5.5 million. “Sales this year are projected to rise 8 to 10 percent. Although welcoming, this still represents a sub-par performance of about 4.6 million sales,” Yun said. “These findings show we need to return to the sound underwriting standards that existed before the aberrations of the housing boom and bust cycle, and thoroughly re-examine current and impending regulatory rules that may cause excessively tight standards.”

Dr. Lawrence Yun


Generate ideas - Disney style!By Erica ChristofferRealtor® MagazineEditor’s Note: This year’s NAR Realtors® Conference & Expo is set for Nov. 9-12 in Orlando. Want to be more creative and innovative in your real estate business? Here’s a sneak peek behind the Disney magic from the Disney Institute’s Sharon Pleggenkuhle.

You’re presenting a session at the Realtors® Conference & Expo in November. What is the Disney Institute—and what’s the goal of your session?

Pleggenkuhle: The Disney Institute is the professional development arm of the Walt Disney Co. We put companies on a journey toward providing a better customer experience, also with the goal of producing stronger financial results. We’ll take a look at some of Disney’s best practices and help companies develop a road map for success.

Give us a few ideas for sparking the imagination and getting ideas flowing.

Pleggenkuhle: Break out of the mind-set of “this is how we’ve always done it.” Look for ideas in unusual places. You want to benchmark what companies in your industry are doing, but also take a look at what other industries are doing to create a great experience for their customers or employees. What are the organizations doing that you like to do business with? Why do you like the experience and how do you take those pieces and work them into your business? Also, new employees tend to ask a lot of questions. Take advantage of that eagerness, and ask them for their ideas and how they would approach a task.

How do you foster a creative, collaborative work environment?

Pleggenkuhle: One of Disney’s core beliefs is everyone is creative and everyone has valuable information to share. As a broker, you need to set up an environment where people

feel safe to share ideas and where they know their ideas are valued—and you need a process for addressing those ideas. It doesn’t matter whether you have 10 agents or 150 agents; there’s got to be communication to share best practices. Make sure that the openness permeates at all levels. It’s important to share great ideas as well as failures and what you learned from them.

What can real estate practitioners learn from Disney’s customer service approach?

Pleggenkuhle: If I could give one piece of advice, it’s to understand your client needs and pay attention to every detail of the delivery. Go in-depth on every touch point and see how you’re doing at all levels—from your Web site to phone calls coming into your office to written communication. Think about each point of communication through the eyes of the client.

What are three takeaways attendees will gain from the Disney Institute session?

Pleggenkuhle: First, they’ll get a great understanding of the key components that make a collaborative culture flourish. Then we’re going to look at the nine-step “imaginarium” process that our Disney “imagineers” use to take an idea from inception to reality. Third, we’re going to look at how Disney uses a “continuous improvement” process when it comes to day-to-day innovation in our theme parks and resorts.

NAR Realtors® Conference & Expo coming up Nov. 9-12There’s a lot of information packed into the Realtors®

Conference & Expo preview in the September/October issue of Realtor® Magazine. The issue focuses on NAR’s annual conference on Nov. 9-12 in Orlando. Visit www.realtor.org and look for the Realtor Magazine link!

Mark Leader is a contributing author for the new book Concrete Jungle: Survival Secrets for the Real World, and will be explaining the creation and maintenance of social capital in Orlando this November.

Of course, there are a lot of people talking about relationship building in one’s neighborhood, both face to face and online. What Leader adds to the conversation is explaining how it works and why:

Leader offers these ten principles:1.Put relationships ahead of financial gain

2.Have a burning desire to be of service3. Accept no favors from anyone without providing favors

in return4.Pick your battles: Never enter into disagreements with

clients about trivial matters 5.Never flatter a customer for the purpose of gaining

something 6.Never compliment friends and associates unless it’s

genuine 7.Never give it away for free 8.Live out your social ideals every day 9.Constantly focus on speaking optimism and joy… 10.…and your enthusiasm will become contagious.You should consider checking him out at the conference.


Marianne LeBar President Michael Saunders & Company Cell: 941-650-0337 [email protected]

Mary Hellhake President-Elect Michael Saunders & Company Cell: 941-544-0763 [email protected]

2012 Leadership TeamPeter Salefsky Vice-President Membership Michael Saunders & Company Cell: 941-544-0763 [email protected]

Carrie Starr Rummery Treasurer Starr Title Insurance Phone: 941-365-7827 [email protected]

Sherri Spanos Recording Secretary Lakewood Ranch Communities Phone: 941-907-6000 [email protected]

Linda McConnell Corresponding Secretary FBC Mortgage LLC Phone: 941-504-0823 [email protected]

WCR Fashion Show - Another Success!

The WCR Fashion Show on Sept. 19th was another enormous success! Shown (L to R) are Mary Hellhake, Peter Salefsky, Michael Saunders, Marianne LeBar and Gloria Weed.

Tuesday-Saturday 10:30AM- 5:30PM Monday by Appointment1540 Main Street Sarasota, FL 34236 941.366.0941 BlackBirdHomeGallery.com

BB_ad34 FULL.indd 1 6/8/12 5:11:52 PM

The WCR Fashion Show, held at the Polo Grill in Lakewood Ranch, was another complete sellout, and those who attended enjoyed a great meal and a terrific show, which benefited All Children’s Hospital Guild of Manatee.


Tuesday-Saturday 10:30AM- 5:30PM Monday by Appointment1540 Main Street Sarasota, FL 34236 941.366.0941 BlackBirdHomeGallery.com

BB_ad34 FULL.indd 1 6/8/12 5:11:52 PM

Mem

bers

hip

New

sDesignated Realtors®

Cole, Darya: Red Square Realty LLCDeVries, Randall: All County Prop Mgmt ProsHamilton, Raffilena: Good Life Realty LLCHubschman, Michael: RyntalKayajian, Gail: Gail Kayajian R.E. Lic BrokerLippert, Sally: Paradise Buyers Realty, Inc.Rodgers, Lori: Lori Jean Rodgers R.E. BrokerWebb, Vicki: Vicki Webb Realty

New MembersAllen, Janet: Atchley International RealtyConsbruck, David: Coldwell Banker Res R EDangerfield, Ashley: Exit King RealtyDebbs, Gina: Eslinger Realty Inc.Dixon, Rhonda: Coldwell Banker Res R EDoyle, Jayde: Coldwell Banker Res R EFazio, Jack: Coldwell Banker Res R EFernandez, Kelly: Mangrove Realty AssociatesGagliardo, Luke: Coldwell Banker Res R EGauthier, Laurine: Century 21 Almar & AssociatesGiles, Shawn: Exit King RealtyGutierrez, Alberto: Shirley International RealtyHaas, Keith: Prudential Elite Realty SvcsHiss De Bruyne, Shirley: Michael Saunders & Co.Hughes, Jennifer: Neal Communities Realty Inc.King, Kathleen: Stringer Management Inc.McDonnell, Andrew: ERA Waterside RealtyMcIver, Chris: Palm Oasis Realty and Mgmt Inc.Moore, Stephen: Blakeley & Associates RealtyNolander, Nathalie: Key RealtyOttaviano, Joseph: Sandals Realty of SarasotaPerkins, Roland: Exit King RealtyPhillips, Elizabeth: Michael Saunders & CompanyRogers, Cynthia: Coldwell Banker Res R ESchnitzer, Pamela: Coldwell Banker Res R ESpence, Jonathan: Coldwell BankerStrouse, Alisha: ELITE Properties LLCWard, Michael: Exit King RealtyWolcott, George: EXIT Creative RealtyWoodard, Julia: Overseas Realty, Inc.Woods, Robert: James Buchanan Realty

Now With ...Albritton, Cherial: Keller Williams on the WaterBajtala, Veronika: Michael Saunders & CompanyBell, Regina: Horizon Realty InternationalBrenner, James: Market America Realty & InvestChartier, Mike: Sarasota Bay Real Estate P.A.Davidson, Theresa: Sandals Realty of SarasotaDeSarno, Cheri: Sarasota Bay Real Estate P.A.Donovan, Corbett: Atchley International RealtyFarrell, William: Key RealtyFarrington, Laticia: Shore to Shore R.E.Figlow, Nicholas: Wagner RealtyGarrabrant, Thomas: EXIT Creative RealtyGesell, Ellen: Atchley International RealtyHameed, Melanie: Atchley International RealtyHarrington, Terri: Sarasota Bay Real Estate P.A.Hayes, Ronald: Exit King RealtyKaplan, Kristina: Atchley International RealtyKlauber, Mirta: Coldwell Banker Res R ELopez, Jose: Rosebay International, IncMarr, Danny: Premier Commercial Inc

Martinetto, Wanda: Keller Williams Lakewood RanchNason, Liz: Hunt Brothers Realty, Inc.Padula, Norman: Sarasota Bay Real Estate P.A.Plack, Penelope: Realty Executives SolutionsRappaport, Gregg: Hook & Ladder Realty IncRobinson, Tonna: Premier Plus RealtySilvers, David: RER InternationalSultan, Yvonne: Atchley International RealtySuponcic, Bozena: RE/MAX Alliance GroupValenti, JoAnne: Prudential Florida Realty

New AffiliatesAdvanced Insurance Underwriter3701 S. Osprey AvenueSarasota, FL 34239Phone Number: 941-929-1538Representative: Vicente MedinaSpecialty: What makes business owners all over Florida choose Advanced Insurance Underwriters year after year for their Florida Business & Personal Insurance needs? It’s what gives us one of the highest client retention rates in the industry, and it’s the same reason they pick us for homeowners insurance, auto insurance and even disaster preparedness assistance. The answer’s simple: we’ve earned their trust. We know trust matters most when you’re looking for an agency to insure your most valued assets. Our Gold Standard approach to service guarantees this trust. It’s been the foundation of our South Florida insurance company’s success for nearly 50 years. We don’t settle for second best, and you shouldn’t either.Email: [email protected]

Benchmark Home Services, LLC2372 Riverwood Pines DriveSarasota, FL 34231Phone Number: 941-893-9328Representative: Ronald SchnitzerSpecialty: “For Your Protection, Get a Home Inspection” Call Benchmark Home Services, LLC. A professional home inspection is your best tool when it comes to making the most of your home investment. Whether you are buying or selling, an objective, professional inspection will provide you with important information that you can use. If you’re buying, you want to know that the home you’re considering is safe and sound. You want to avoid unwelcome and costly surprises. If you’re selling your home, you will need to make full disclosure of any and all deficiencies. You’ll want to know what, if any, repairs to make so you can market your home most effectively. Whichever side of the “For Sale” sign you’re on, a quality home inspection is essential. Our comprehensive home inspection includes visual evaluation of nearly 400 different items that affect the safety, condition and value of a home.Email: [email protected]

Blue Lizard Home Inspections8108 Glenbrooke PlaceSarasota, FL 34243Phone Number: 941-468-1827Representative: Steve WisenbaughSpecialty: We are a family-owned and operated Home Inspection business. We proudly serve our neighbors in Sarasota and Manatee counties and surrounding areas. We conduct thorough, professional inspections – this

The Association is pleased to welcome new members!


is our only business and our clients are our one concern. Whether you’re buying or selling a home, you’ll want to hire an InterNACHI-Certified Professional Inspector. As a member of the International Association of Certified Home Inspectors, I represent the best-trained and most highly qualified inspectors in the business. InterNACHI is the world’s elite home inspector association because its membership requirements are the toughest in the industry.Email: [email protected]

DoveTail Wood Traditions5912 13th Ave. E.Bradenton, FL 34208Phone Number: 941-405-3494Representative: Aaron SchanieSpecialty: Joining Dreams with Designs…We create imaginative design solutions using high standards of detailing and craftsmanship, unique wood finishes, and innovative, installation techniques. Specializing in Kitchens, Libraries, Foyers, Family Rooms, Bars, Heirloom Furniture, Media Centers, Closets, Vanities, Cubhouse Interiors, and Restaurant Interors.Email: [email protected]

JENO Home Watch & Concierge441 S. Shore DriveOsprey, FL 34229Phone Number: 941-882-0820Representative: Jennifer MullineauxSpecialty: JENCO Home Watch & Concierge was designed with you in mind. Our home monitoring expertise combined with 14 years in the hospitality industry & 27 years of residential & commercial construction experience give you the peace of mind knowing your property is in good hands. Keep your insurance premiums low with regular checks from a reputable company. Most insurance companies offer discounts when your property is regularly monitored when you’re away. We make sure that everything is taken care of so that there are no surprises when you return. We reduce the chances of major damage before it happens. Our mission is to give you peace of mind while you’re away & anticipate your needs before you arrive.Email: [email protected]

Junk-King™2147 Porter Lake Dr. Unit FSarasota, FL 34240Phone Number: 941-554-8126Representative: Michele PostellSpecialty: What can Junk-King™ Sarasota do for you? Why spend your time doing a dirty, time-consuming job when you can spend that time with your family, enjoying a game or doing other tasks? With Junk-King™, our well-trained staff can do the work for you. There is no need for you to drag or carry out boxes to the porch, driveway or curb. You describe what you want removed and we do all the work. We provide all the loading and cleaning so you don’t have to. Junk-King™ is America’s fastest and Greenest Junk removal service. We take anything and everything, except (hazardous waste).Email: [email protected]

KB Homes9102 Southpark Ctr Loop #100Orlando, FL 32819Phone Number: 407-587-3593Representative: Amada ParahSpecialty: We want to build you the home you’ve always

dreamed of. The home that’s been coming together in your imagination for years. The backdrop of your future memories. And we want to build it well, at a price you can afford. This is the idea that has driven our work since 1957, and the reason we set our standards high. During construction, we use dependable building materials and implement a building process that features a number of checkpoints and inspections. And we offer an industry-leading 10-year limited warranty to give you peace of mind. KB currently building in Stoneybrook at Venice, Sterling Lake, Sheffield Glenn and Creekside.Email: [email protected]

On1 Cycle5573 Palmer Crossing CircleSarasota, FL 34233Phone Number: 941-922-5153Representative: Reid WithrowSpecialty: ON1 Cycle Studio is a refreshing outlook to indoor cycling where no membership is required and you pay for only the classes you take. We offer a wide array of classic and unique indoor cycling classes in an inspiring and spacious boutique studio. ON1 Cycle strives to create an atmosphere that brings about a total body experience that positively affects physical, psychological, spiritual and social health. We believe in the best riding experience possible and that’s why we use the Real Ryder bikes. So get ready to be transformed. Email: [email protected]

PNC Mortgage1549 Ringling Blvd Suite 417Sarasota, FL 34236Phone Number: 941-951-4442Representative: John A IronsSpecialty: Why Choose PNC Mortgage? Guaranteed On Time Closings - Close on-time with our money-backed PNC Mortgage Advantage® guarantee. Work with us on your terms. - Whether you want to apply for a mortgage or need mortgage pre-approval, we’re available online, on the phone or face-to-face in your neighborhood. Simplified Preapproval Services - Get pre-approved for one of our mortgage loans – and go house hunting with confidence knowing how much you can afford. We are with you every step of the way - even after you close the loan. Generally, we service our customers’ home mortgage loans rather than sell them.Email: [email protected]

Snapdragon Stage and Design215 133rd Street E.Bradenton, FL 34212Phone Number: 941-228-6363Representative: Pamela DarbyshireSpecialty: Home Staging and Redesign Services. Today, that important first impression starts not at the curb, but online, where over 90% of buyers begin their search for a new home. If your home does not stand out with compelling web photos, few potential buyers will even make it to your front door. Our Home Stagers and Interior Decorators work with you, using and adding to what you already own to create beautiful, welcoming exteriors, interiors and photos, which your Realtor can use to drive buyer traffic to your home. Our experienced, certified Home Stagers and Interior Decorators will use their creativity and expertise to reveal your homes highest potential to buyers, creating emotional connection points with universal appeal which assist shoppers in picturing themselves living “the good life”, and turning that For Sale sign into Sold!Email: [email protected]


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Monday Tuesday Wednesday Thursday Friday

Oct. 1 9 a.m. Basic MLXchange 1 p.m. Compliance 101 3 p.m. Adding and Modifying Listings

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

3 7:30 a.m. Toastmasters 8:30 a.m. CRB Class

4 8 a.m. Power Marketing (University Park CC) 5 p.m. Sales Associate Pre-License

5 9 a.m. CID Commercial Marketplace

8 9 a.m. New Member Orientation 1 p.m. Code of Ethics

9 9 a.m. OwnAmerica 9 a.m. Adv. Web Page 11:30 a.m. Mng. Contacts 1:30 p.m. CMA 5 p.m. Sales Associate Pre-License

10 8:30 a.m. SAR Strategic Planning

11 8 a.m. Power Marketing (SAR) 1 p.m. Point 2 Seminar 5 p.m. Sales Associate Pre-License


15 9 a.m. Basic MLXchange 9 a.m. Code of Ethics 1 p.m. Compliance 101 1 p.m. Code of Ethics 3 p.m. Adding and Modifying Listings

16 8 a.m. CID General Membership

17 7:30 a.m. Toastmasters 8:30 a.m. Board of Directors 12 p.m. RAJC Seminar: Common Title Defects

18 8 a.m. Power Marketing (SAR)

19 9 a.m. CID Commercial Marketplace (offsite)

22 9 a.m. iMapp 1 p.m. Statistics 3 p.m. Agent Marketing Tools

23

24 8:30 a.m. Board of Directors 5 p.m. Changing of the Seasons Affiliate Event

25 8 a.m. Power Marketing (SAR)


29 8 a.m. CID Golf Tournament (Founders Club)

30 8 a.m. CRS 200

31 8 a.m. CRS 200

Nov. 1 8 a.m. Power Marketing (University Park CC)


OCTOBER 2012

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

My Florida Regional MLS Training The My Florida Regional MLS training classes are offered at no cost to MLS participants. All classes are HANDS-ON in the SAR Tech Center. Please register for all MLS classes at the MFRMLS website: http://mfrmls.com.

Click on ‘Education and Training.’

EDUCATION & EVENTS CALENDAR

Source: Sarasota Association of Realtors® MLS

0

100

200

300

400

500

600

700

800

900


New Listings Single FamilyCondo

The Xtra Pages - D

igital Version Only


0.0

2.0

4.0

6.0

8.0

10.0

12.0


Months of Inventory Single FamilyCondo


$0$20,000,000$40,000,000$60,000,000$80,000,000$100,000,000$120,000,000$140,000,000$160,000,000$180,000,000$200,000,000


Sales Volume Single Family

Condo


0

50

100

150

200

250

300


Days on Market Single Family

Condo

Source: Sarasota Association of Realtors® MLS

0

100

200

300

400

500

600

700

800

900


New Listings Single FamilyCondo

Second Quarter 2012 Report


0

200

400

600

800

1000

1200

1400

2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4 2012‐Q1 2012‐Q2

Single Family Sales ‐ By Quarter REO Short Market


0

100

200

300

400

500

600

700

2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4 2012‐Q1 2012‐Q2

Condo Sales ‐ By Quarter REO Short Market


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4 2012‐Q1 2012‐Q2

REO Short MarketSingle Family Median Sale Price

* Homebuyer Tax Credit In Effect



$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4 2012‐Q1 2012‐Q2

REO Short MarketCondo Median Sale Price


0

100

200

300

400

500

600

2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4 2012‐Q1 2012‐Q2

REO Sales ‐ By Quarter Single FamilyCondo


0

50

100

150

200

250

300

350

400

2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4 2012‐Q1 2012‐Q2

Short Sales ‐ By Quarter Single Family

Condo


0

200

400

600

800

1000

1200

1400

2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4 2012‐Q1 2012‐Q2

Market Sales ‐ By Quarter Single FamilyCondo




$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$160,000 $163,000 $155,925

$142,000

$145,000$173,000

$191,000

$225,000

$305,000$301,225

$336,250$320,000

$210,000

$163,000$156,800

Annual Median Sale Price ‐ 2000 to 2011 Single Family Condo

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Annual Sales ‐ 2000 to 2011Single Family Condo Total

9697

11267

10562

Single Family Condo Total

6 504

7,596

6,8416533

7036

8167

63586739

76038224

4,3494,940

5,603

6,504

4,3533,922

4,6265,183

5,4665,938

3 671 3 721

6533 63586042 5820

,

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

2,137 2,286

1,194

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Sarasota Realtor Magazine - October 2012

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Transcript of Sarasota Realtor Magazine - October 2012