Sarasota Realtor Magazine - July 2010

JULY 2010

Oil fouls the Gulf,unemployment lingers,

Amendment 4 threatens -How should Realtors®

respond? Page 6

Facing Florida’sFuture

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Sarasota Realtor®Volume 7, Issue 7

JULY 2010

Sarasota Association of Realtors®, Inc.

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

www.sarasotarealtors.com

2010 OfficersPresident

Erick Shumway RE/MAX Alliance Group

President-Elect Michael Bruno

Prudential Palms RealtySecretary Roger Piro

Town & Country RealtyTreasurer

Laura Benson Michael Saunders & Company

Immediate Past President William Geller

RE/MAX Platinum RealtyChief Executive Officer

Kathy Roberts

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

Editorial Staff

Director of CommunicationsRay Porter

Director of Member ServicesDan Andrews

Director of MLS Information SystemsJesse Sunday

Director of Professional DevelopmentCatherine McCaskill

Governmental Affairs DirectorMarc Mansfield

ProductionCoastal Printing, Inc.

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

Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor® magazine. A yearly subscription for Sarasota Realtor® magazine is available to non-members for $25, plus Florida sales tax.

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

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

Vol

ume

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Issu

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Con

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6 Facing Florida’s Future The last three years should be enough to convince anyone associated with the real estate industry that the more emphasis placed on education - the better!

10 Fall Elections Coming As we slip into the sweltering summer months, we must become more educated on the upcoming proposed state constitutional amendments.

12 Tangible Property Tax In these difficult economic times, it is critical that local governments are able to identify all legitimate sources of tax revenue, including tangible property taxes.

15 The Best Yet May 2010 saw the highest number of sales in Sarasota since December 2005, and prices remained stable.

18 Commercial Turbulence The commercial forecast is for continued turbulence in the short term as several issues buffet the economy.

In every issue10- Governmental Affairs

12- Property Appraiser

14- Ethics in Action

15- Sales and Listing Statistics

18- Commercial Investment Division

20- Education Programs

24- On the SAR Scene

27- Broker Corner

28- WCR News

30- Membership News

32- Calendar of Events/Education

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

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

Ellen Esses: SAR Affiliate of the Month for July 2010The July 2010 Affiliate of the Month

is Ellen L. Esses of National Cremation and Burial Society.

Originally from New York City, Ellen relocated to Sarasota from Dillon, Colorado in 2000. Ellen’s lifetime career has been in sales and service.

Ellen is a member of Sarasota Association of Realtors® and Women’s Council of Realtors®.

Ellen works hard and loves what she does. Passionate, knowledgeable and committed to those she has the privilege to serve.

As an Advanced Planning Specialist for National Cremation and Burial Society,

Ellen is enthusiastic about helping forward-thinking people plan and take care of this important aspect of their life journey.

“As a proactive person I want to make sure that all my affairs are in order and that includes this one,” said Ellen.

Ellen sincerely believes that planning ahead is the most thoughtful gift we can give our loved ones and relieve them of the burden at the time of need.

To receive your free Personal Planning Guide, please contact Ellen directly at: 941-284-4152 or [email protected]. Ellen Esses

Jon Thaxton to speak at SAR quarterly meeting July 16thThe second 2010 SAR Quarterly Meeting has been set

for Friday, July 16th with lunch at noon at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Street, Sarasota. The cost is $13.50

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

In addition to the main program, various awards will be handed out during the event. Several Realtor® Emeritus

designees will be honored and presented with special pins by SAR President Erick Shumway.

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

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

Registration for the event is now under way at www.sarasotarealtors.com.

Florida Welcome Home Week set July 11-17Teachers. Firefighters. Military

personnel. Nurses. Police officers. The list goes on and on: Many people who provide vital services that strengthen our communities can’t afford to own a home or live where they work.

It’s a problem that harms everyone. Community leaders across Florida are recognizing the link between workforce housing and the positive economic and social health of their communities.

The shortage of affordable housing close to work leads to longer commutes, traffic congestion, urban sprawl and limited services that degrade all residents’ quality of life.

On the frontlines of the state’s housing market, Realtors® understand this lack

of housing opportunities threatens the vitality and future of Florida’s communities.

Florida Realtors® and the Sarasota Association of Realtors® are spreading the word about the crucial need for “Homes for Hometown Heroes” during Florida Welcome Home Week, July 11-17. It’s the right message at the right time.

As of July 1, the federal homebuyer tax credit no longer applies, (except for home purchases falling under special rules for members of the military, foreign service and intelligence community).

During Florida Welcome Home Week, turn up the radio and listen for Florida Realtors®’ ads promoting “Homes for Hometown Heroes.” Airing

during traffic reports at peak drive times on radio stations across the state July 11-17, the spots not only showcase the need for workforce housing but also note how working with a Realtor® helps our Hometown Heroes realize their dreams of homeownership.

The radio media campaign is made possible by a $100,000 grant from the National Association of Realtors®’ Ira Gribin Workforce Housing Grants, awarded to state Realtor® associations or their housing foundations to support workforce housing initiatives.

For more, visit:www.floridarealtors.org/AboutFar/

WelcomeHomeWeek.cfm

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

tCover

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Editor’s Note: In 2005, Florida was a state with fast-paced population growth, a booming construction industry, a burgeoning business economy, rapidly escalating home values, skyrocketing tourism, and a “sky is the limit” attitude. In the last five years, everything has changed.

The year 2010 is very different from the year 2005. A great deal has changed in the past five years in Florida, and more change and potential change is on the horizon, both good and bad.

Reality has come crashing down in the form of the real estate crash, plummeting property values, spiking natiional, state and local unemployment, the construction industry recession, the BP oil crisis in the Gulf, the threat of Amendment 4 in the fall, the potential for a more active hurricane season, and much more. It seems to have become the perfect storm.

With all the bad news, perhaps the most amazing good news has been the resilience of the Sarasota property market and local real estate practitioners. Even during these difficult times during the past year, the market has maintained its equilibrium, and even grown. In fact, during the past two months, sales have returned to near pre-boom levels, in the mid-700’s. In addition, the higher sales and lower inventory level has pushed the “months of inventory” figure down to 7.2 months for single family homes and 9.7 months for condos, very near the equilibrium point of 6 months (a balanced market between buyers and sellers).

Median sale prices have stabilized, even with roughly 40 percent of sales categorized as “distressed” - short sales and foreclosures. In fact, if one looked at only normal, “arm’s length” sales, the median price for condominiums in May 2010 was $289,000, and for single family homes was $240,000. These figures far surpass the foreclosure (bank-owned) medians of $62,000 for condos and $89,000 for single family homes.

Basically, while the overall market pricing has been impacted by the influx of distressed properties, the disparity between prices in 2005 and 2010 for non-distressed properties is not as drastic as it might appear at first glance.

While most of the recent market news has been outstanding, the shape of the future may be in question. The federal homebuyer tax incentives have ended, and all the elements of the perfect storm remain. How local

Realtors® and the industry in general face the next few months will be critical to maintaining the positive direction and energy displayed in the past year.

The first positive step one can take is to make sure you are registered to vote this fall. Presenting a unified opposition to Amendment 4 is crucial for the real estate industry and the economic future of Sarasota and the entuire state. But remember - you can’t vote against the ill-conceived amendment if you are not registered!

There is irony in the air regarding this proposed amendment, especially when one considers the lack of proper regulation and oversight of the oil industry when it comes to the BP rig catastrophe and deep sea oil drilling in general.

Those who have crafted Amendment 4 say the citizens should vote on all changes to local and state comprehensive plans. They are in effect arguing for greater growth regulation standards. But the reality is that this move would constitute vast over-regulation, and effectively cause planning gridlock (see article on P. 13 for more details).

Clearly, the end result should this amendment actually be adopted would be utter devastation of the Florida economy at a time when we can least afford such a misguided proposal.

SAR has copies of the voter registration forms at the front desk, and on P. 8 in this issue. We strongly urge our members to register and vote on Nov. 2!

Even if we help defeat Amendment 4, the next few months and years will be a time to focus on bringing Sarasota’s real estate market back to equilibrium. The next order of business (already in progress) will be to help lower the number of distressed properties in the market. While local real estate agents and brokers don’t control the bigger picture of unemployment and national economics, becoming better educated about the depth and breadth of the current distressed market will help agents sell off this inventory and eventually alleviate the situation.

Facing Florida’s FutureLocal real estate professionals require focus on tomorrow

Continued on P. 31, See FUTURE


PLEASE ComPLEtE tHE APPLICAtIoN BELoW. PLEASE PrINt uSINg A BLACk BALLPoINt PEN.

Florida Voter registration application

reQU

ired

reQU

ired

1 Check boxes that apply: New Registration Address Change Party Change Name Change Card Replacement Signature Update

2 Are you a citizen of the United States of America? Yes No (If NO, you cannot register to vote)

3 I affirm I am not a convicted felon, or if I am, my rights relating to voting have been restored.

4 I affirm I have not been adjudicated mentally incapacitated with respect to voting or, if I have, my right to vote has been restored.

5 Date of Birth (MM/DD/YYYY) / /

6

7Last Name Suffix (circle)

Jr. Sr. II III IVFirst Name Middle Name/Initial

8Address Where You Live (Legal Residence) DO NOT GIVE P.O. BOX. Apt/Lot/Unit City County of Legal Residence State Zip Code

9Mailing Address If Different from Above Apt/Lot/Unit City Country State Zip Code

10Address Last Registered to Vote Apt/Lot/Unit City County State Zip Code

11Former Name if Making Name Change Day Phone Number (optional)

12 Party Affiliation (Check only one) Democratic Party Republican Party minor party (print registered party name): NONE

13 Race/Ethnicity (Check only one) American Indian/Alaskan Native Asian/Pacific Islander Black, not Hispanic Hispanic White, not Hispanic

14 Sex M F Do you need voting assistance at the polls? Yes No Are you interested in being a poll worker? Yes NoState or Country of Birth

15 Are You: Active Duty Military/Merchant Marine Dependent of Active Duty Military/Merchant Marine U.S. Citizen Currently Residing Outside the U.S.

16Oath: I do solemnly swear (or affirm) that I will protect and defend the Constitution of the United States and the Constitution of the State of Florida, that I am qualified to register as an elector under the Constitution and laws of the State of Florida, and that all information provided in this application is true.

If yOu aNswered NO tO questION 2, Or If yOu are uNable tO affIrm the statemeNts IN bOxes 3 aNd 4, yOu are INelIgIble tO regIster tO vOte. dO NOt cOmplete thIs applIcatION.

1) black boxes must be completed on the application below for registration to be valid. 2) return this completed application to the office of your supervisor of elections. 3) If you are a first-time voter in this state applying by mail to register to vote and you have not been issued a fl dl#, fl Id#, or ssN, include a copy of your Id with the application (see

special Identification requirements for additional information required). 4) mail with first-class stamp.

sIgNature: Sign or mark on line in box below. (Invalid without signature or mark of applicant)

X Date:

rEVISED 1/08

If you have a current and valid FL DL# or FL ID card#, you must provide the number in this box. If you do not haveeither, provide the last 4 digits of your SSN. If you have not been issued a FL DL#, FL ID card#, or SSN, write “NONE”:

You can use this form to:• Register to vote in the State of Florida• Change name or address• Replace your defaced, lost or stolen Voter

Information Card• Register with a political party or change

party affiliation• Update your signature

DeaDline informationIf this is a new registration application in Florida, the date the completed application is postmarked or hand delivered to a driver’s license office, a voter registration agency, an armed forces recruitment office, the Division of Elections, or the office of any supervisor of elections in the state will be your registration date. You must be registered for at least 29 days before you can vote in an election. If your application is complete and you are qualified as a voter, a voter information card will be mailed to you.

PartY affiliation (Box #12)If you wish to register with a major political party, place an “X” in the box next to the desired major party. If you wish to register with a minor political party, place an “X” in the box preceding “minor party” and then print the name of the desired minor party. For a list of all political parties registered in Florida, go to the Division of Elections’ web site: http://election.dos.state.fl.us/online/parties.shtml. If you do not wish to

register with any political party, place an “X” in the box preceding “NONE.” Florida is a closed primary election state. Therefore, to vote in a primary election for partisan candidates, you must be a registered voter in the party for which a primary is being held. Regardless of party affiliation, all registered voters can vote on issues and non-partisan candidates.

noticeThe office at which you register or your decision not to register, your SSN, your FL DL# and your FL ID card# will remain confidential and will be used only for voter registration purposes.

noteIf the information on this application is not true, the applicant can be convicted of a felony of the third degree and fined up to $5,000 and/or imprisoned for up to five years.

QuestionsContact the office of your county supervisor of elections for additional information. Contact information is on the website for the Division of Elections: http://election.dos.state.fl.us/county/index.shtml

información en esPañolSirvase llamar a la oficina del supervisor de elecciones de su condado si le interesa obtener este formulario en Español.

to rEgIStEr, you muSt:• Be a citizen of the United States of America. (Box 2)• Be a Florida resident. (Box 8)• Be 18 years old. (You may pre-register if you are 17 or

if you have a valid driver’s license before your 17th birthday.) (Box 5)

• Not be adjudicated mentally incapacitated with respect to voting unless that right is restored. (Box 4)

• Not be a convicted felon unless you have had your civil rights restored. (Box 3)

• Provide your current and valid Florida driver’s license number or florida identification card number. If you do not have a current and valid florida driver’s license or florida identification card, you must provide the last four digits of your social security number. If you do not have a florida driver’s license number, florida identification card number or social security number, write “NONe” in the box. (Box 6)

• Complete all information in the black boxes on the ap-plication. (Boxes 2, 3, 4, 5, 6, 7, 8, 16)

Florida VoterregistrationApplication

OFFICIAL USE ONLY:DS DE 39 1/08

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

Prior to June 1st, Fannie Mae and Freddie Mac backed loans were not eligible under the Making Home Affordable Program (“Non-GSE Program”).

As of June 1st, Fannie Mae and Freddie Mac (collectively referred to as “GSE”) announced their participation in the HAFA (Home Affordable Foreclosure Alternative) program. Some of the highlights for the GSE mortgages under the HAFA program are as follows:

• The deficiency will be waived with borrower being fully released from future liability for the debt;

• Borrowers will not be required to contribute a cash contribution to satisfy any lien holders, or sign a promissory note;

• Borrowers will receive a $3,000 incentive to assist with relocation cost; and

• Foreclosure temporarily suspended.Similar to the Non-GSE Program, the following are

some basic eligibility requirements for GSE mortgages under the HAFA program:

• Servicers may participate now, however it will be mandatory as of Aug. 1, 2010 on first-lien mortgages;

• Limited to single family 1-4 unit primary residences, including condominiums;

• Primary occupancy must be verified, or a required relocation greater than 100 miles and the property cannot be abandoned, condemned, or vacant;

• Borrowers must meet the basic HAMP criteria and either not qualify for a modification, does not complete the trial period successfully, is delinquent during the modification by

missing two payments, or elects to do the short sale instead of a modification;

• Borrowers must be more than 60 days delinquent and have cash reserves less than the greater of $5000 or three times their monthly payment;

• Borrowers who are in foreclosure or who are in active Bankruptcy may be eligible;

• Borrowers must be able to convey clear, marketable title. This program is good through Dece. 31, 2012. You can

view the full Fannie Mae or Freddie Mac bulletin on our website at www.berlinpatten.com.

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

Fannie and Freddie accepting HAFA short sales

PLEASE ComPLEtE tHE APPLICAtIoN BELoW. PLEASE PrINt uSINg A BLACk BALLPoINt PEN.

Florida Voter registration application

reQU

ired

reQU

ired

1 Check boxes that apply: New Registration Address Change Party Change Name Change Card Replacement Signature Update

2 Are you a citizen of the United States of America? Yes No (If NO, you cannot register to vote)

3 I affirm I am not a convicted felon, or if I am, my rights relating to voting have been restored.

4 I affirm I have not been adjudicated mentally incapacitated with respect to voting or, if I have, my right to vote has been restored.

5 Date of Birth (MM/DD/YYYY) / /

6

7Last Name Suffix (circle)

Jr. Sr. II III IVFirst Name Middle Name/Initial

8Address Where You Live (Legal Residence) DO NOT GIVE P.O. BOX. Apt/Lot/Unit City County of Legal Residence State Zip Code

9Mailing Address If Different from Above Apt/Lot/Unit City Country State Zip Code

10Address Last Registered to Vote Apt/Lot/Unit City County State Zip Code

11Former Name if Making Name Change Day Phone Number (optional)

12 Party Affiliation (Check only one) Democratic Party Republican Party minor party (print registered party name): NONE

13 Race/Ethnicity (Check only one) American Indian/Alaskan Native Asian/Pacific Islander Black, not Hispanic Hispanic White, not Hispanic

14 Sex M F Do you need voting assistance at the polls? Yes No Are you interested in being a poll worker? Yes NoState or Country of Birth

15 Are You: Active Duty Military/Merchant Marine Dependent of Active Duty Military/Merchant Marine U.S. Citizen Currently Residing Outside the U.S.

16Oath: I do solemnly swear (or affirm) that I will protect and defend the Constitution of the United States and the Constitution of the State of Florida, that I am qualified to register as an elector under the Constitution and laws of the State of Florida, and that all information provided in this application is true.

If yOu aNswered NO tO questION 2, Or If yOu are uNable tO affIrm the statemeNts IN bOxes 3 aNd 4, yOu are INelIgIble tO regIster tO vOte. dO NOt cOmplete thIs applIcatION.

1) black boxes must be completed on the application below for registration to be valid. 2) return this completed application to the office of your supervisor of elections. 3) If you are a first-time voter in this state applying by mail to register to vote and you have not been issued a fl dl#, fl Id#, or ssN, include a copy of your Id with the application (see

special Identification requirements for additional information required). 4) mail with first-class stamp.

sIgNature: Sign or mark on line in box below. (Invalid without signature or mark of applicant)

X Date:

rEVISED 1/08

If you have a current and valid FL DL# or FL ID card#, you must provide the number in this box. If you do not haveeither, provide the last 4 digits of your SSN. If you have not been issued a FL DL#, FL ID card#, or SSN, write “NONE”:

You can use this form to:• Register to vote in the State of Florida• Change name or address• Replace your defaced, lost or stolen Voter

Information Card• Register with a political party or change

party affiliation• Update your signature

DeaDline informationIf this is a new registration application in Florida, the date the completed application is postmarked or hand delivered to a driver’s license office, a voter registration agency, an armed forces recruitment office, the Division of Elections, or the office of any supervisor of elections in the state will be your registration date. You must be registered for at least 29 days before you can vote in an election. If your application is complete and you are qualified as a voter, a voter information card will be mailed to you.

PartY affiliation (Box #12)If you wish to register with a major political party, place an “X” in the box next to the desired major party. If you wish to register with a minor political party, place an “X” in the box preceding “minor party” and then print the name of the desired minor party. For a list of all political parties registered in Florida, go to the Division of Elections’ web site: http://election.dos.state.fl.us/online/parties.shtml. If you do not wish to

register with any political party, place an “X” in the box preceding “NONE.” Florida is a closed primary election state. Therefore, to vote in a primary election for partisan candidates, you must be a registered voter in the party for which a primary is being held. Regardless of party affiliation, all registered voters can vote on issues and non-partisan candidates.

noticeThe office at which you register or your decision not to register, your SSN, your FL DL# and your FL ID card# will remain confidential and will be used only for voter registration purposes.

noteIf the information on this application is not true, the applicant can be convicted of a felony of the third degree and fined up to $5,000 and/or imprisoned for up to five years.

QuestionsContact the office of your county supervisor of elections for additional information. Contact information is on the website for the Division of Elections: http://election.dos.state.fl.us/county/index.shtml

información en esPañolSirvase llamar a la oficina del supervisor de elecciones de su condado si le interesa obtener este formulario en Español.

to rEgIStEr, you muSt:• Be a citizen of the United States of America. (Box 2)• Be a Florida resident. (Box 8)• Be 18 years old. (You may pre-register if you are 17 or

if you have a valid driver’s license before your 17th birthday.) (Box 5)

• Not be adjudicated mentally incapacitated with respect to voting unless that right is restored. (Box 4)

• Not be a convicted felon unless you have had your civil rights restored. (Box 3)

• Provide your current and valid Florida driver’s license number or florida identification card number. If you do not have a current and valid florida driver’s license or florida identification card, you must provide the last four digits of your social security number. If you do not have a florida driver’s license number, florida identification card number or social security number, write “NONe” in the box. (Box 6)

• Complete all information in the black boxes on the ap-plication. (Boxes 2, 3, 4, 5, 6, 7, 8, 16)

Florida VoterregistrationApplication

OFFICIAL USE ONLY:DS DE 39 1/08

NONE


Summer is hot time to educatereal estate community on fall election

sG

over

nmen

tal A

ffai

rsBy Marc MansfieldGovernmental Affairs Director

Summer in the City Hot town summer in the cityBack of my neck getting dirty and grittyBeen down isn’t it a pityDoesn’t seem to be a shadow in the cityAll around people looking half deadWalking on the sidewalk hotter than a match head - Lovin’ Spoonful -1966Hard to believe that song was popular back in the

60s but that is a story for another time. It came to mind when I was sitting at my desk thinking about what I was going to write about for the July issue of Sarasota Realtor® Magazine.

After all, it is summer in Sarasota and we expect hot temperatures, high humidity and muggy weather. It is the price we pay for the great weather we experience later in the year.

So what does this have to do with governmental affairs and public policy? Not much, except July is indeed summer in the city and public policy and politics are not high on the list of priorities for most SAR members during this time of the year.

After all, school is out, vacations are planned and why would anyone think about anything else?

However, it just isn’t that simple anymore. While you are out enjoying the summer weather, local political candidates will be trying to win the primary election held on Aug. 24, 2010.

Other candidates will vie for political office in the general election held on Nov. 2, 2010. And just to make it really interesting, on November 2, Florida’s registered voters will have the opportunity to head to the polls and cast their vote “for” or “against” nine (9) proposed constitutional amendments.

SAR will provide information on all of the proposed constitutional amendments in later issues of our magazine.

However, two of those nine constitutional amendments have particular importance to SAR and the Florida Realtors®.

By now, most of you already know about Amendment 4, the so-called vote on everything amendment. SAR and the Florida Realtors® along with numerous other

organizations are encouraging you to vote NO on this Amendment.

If this amendment is approved by the voters, our economy would be dealt a fatal blow. Simply said: Amendment 4 will cost jobs, waste tax dollars and make it more expensive to live in Florida. Vote NO on Amendment 4.

Amendment 3: The State Constitution generally limits the maximum annual increase in the assessed value of non-homestead property to 10 percent annually. This proposed amendment reduces the maximum annual increase in the assessed values of those properties to 5 percent annually.

This amendment also requires the Legislature to provide an additional homestead exemption for persons who have not owned a primary residence during the preceding 8 years.

Under the exemption, 25 percent of the just value of a first-time homestead, up to $100,000 will be exempt from property taxes. SAR and Florida Realtors® encourage you to vote YES on Amendment 3.

It is going to be an extremely important year for Realtors® to become engaged and active in public and governmental affairs. Make sure you are registered to vote and please vote in the primary election on August 24th and the general election on November 2nd.

So, go ahead and enjoy your summer and vacation, but be prepared for the business of governmental affairs and politics upon your return.

Important dates to remember:

Primary Election Day: Aug. 24, 2010 – Last day to register to vote: July 26, 2010

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

PLEASE REGISTER TO VOTE!


SAR announces candidate endorsementsSarasota Association of Realtors®

Political Action Advisory Trustees recently interviewed candidates for County Commission and Sarasota School Board. Based upon those personal interviews SARPAAT recommended the following candidate endorsements which were approved by the SAR Board of Directors:

Sarasota County Commission Dist. 4 – Republican Primary

Nora Patterson (incumbent) Mark Smith challengerSAR provided no endorsement in this

primary race.

School Board District 1 – Non Partisan

Carol Todd (incumbent)Barry WoolfDr. Joseph NeunderSAR endorses Dr. Joseph Neunder.

Dr. Neunder is a local Chiropractic Physician who recently moved back to Sarasota with his family. His decision to return to the area was based on his belief that his son would receive the benefits and opportunities provided by the Sarasota public school system. He further believes that as a graduate of the Sarasota public

school system he can provide a different viewpoint and in his words “reinvigorate” the educational system so that it can continue the tradition of offering a quality education. SAR believes Dr. Neudner is the best candidate for School Board District 1. For more information please visit his website: www.drneudner.com

School Board Dist. 4 – Non PartisanShirley Brown (incumbent) Cathy HodgsonSAR provided no endorsement in this

race.School Board Dist. 5 – Non Partisan

–No incumbent Jane GoodwinKathryn JamesSAR endorses Jane Goodwin. Jane

recently served as the Chair of Citizens for Better Schools and worked tirelessly in support of the recent continuation of the school millage tax referendum. Jane began her professional career as a high school teacher, and has experience in the private sector specializing in information technology sales and marketing while working with K-12 and post secondary educators across the country. Jane also worked for the Sarasota Family YMCA and was the Executive Director of the Sarasota Home Builders Association. She has two grandchildren who attend Gulf Gate elementary school. SAR believes Jane Goodwin is the best candidate for School Board District 5.

BP oil disaster claimscan cover rental losses

Florida Realtors® Vice President of Public Policy John Sebree recently spoke with a BP claims adjuster to gain clarity into the oil spill’s claims’ process.

According to Sebree, “claims such as cancelled contracts on rental units are being approved for payment every day.”

However, the adjuster admitted that one type of claim is stalled a bit: lost commissions on sales. According to BP, these claims are not being denied; however, they’re on hold right now as adjusters develop a way to handle commission losses in a consistent manner.

The BP helpline is (800) 440-0858.

iPr

oper

ty A

ppra

iser Invisible value of tangible personal

property is difficult to identify, estimate

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

Identifying, listing and valuing taxable property in Sarasota County is the mission and mandate of the Property Appraiser’s office. In these critical economic times it’s imperative that every piece of taxable property is on the tax roll.

Real property is easy to identify – it’s the land, and all buildings, fixtures and other improvements to the land. The invisible value is the value of the tangible personal property that the occupants/owners of that real property use in their activities as business owners and landlords.

Think about it. Every piece of rental furnishings, every leasehold improvement, every power line, electrical substation, cell phone tower, vending machine, billboard, commercial sign, fashion mannequin, clothes hanger, stylist chair, blow-dryer, shopping cart, time clock, ladder, saw, wheel barrow, lawn mower, leaf blower, office desk, conference table, file cabinet, movie projector, popcorn machine, bowling pin, table for two, professional range, ice maker, beer cooler, pressure washer, hydraulic lift, alignment machine, freight scale, warehouse shelving, milking machine, farm tractor, stapler, copier and pencil used as part of somebody’s business or to generate income is taxable tangible personal property.

• In 2009 the taxable value of Tangible Personal Property accounted for 3.7 percent, or $1.72 billion of Sarasota County’s total taxable value.

• In 2009 the accounts of FPL

and Verizon represented Sarasota County’s top two taxpayers. Their combined taxable property value, real and tangible, accounted for 1.2 percent of Sarasota County’s entire taxable value.

• In 2009 50 accounts made up 47 percent of the 34,597 Tangible Personal Property accounts.

• In 2009, as a result of the passage of Amendment 1, about 70 percent of Tangible Personal Property filers, primarily small business owners, benefited from the new $25,000 Tangible Personal Property exemption, and were waived from paying personal property taxes.

Finding it all and valuing it all is a gargantuan task. That’s why all property owners in the State of Florida have a legal obligation to report tangible personal property by filing an annual return, DR 405.

Anyone in possession of tangible personal property on January 1, who has a proprietorship, partnership, corporation, is a self-employed agent or contractor, or leases, lends or rents property, must file an annual return unless a waiver has been granted. To qualify for the $25,000 exemption, and a possible waiver, a return must be filed by the April 1 deadline.

Business owners, self employed people and landlords can help us to determine and report the taxable value of all property in Sarasota County by filing an annual return. As you can see from the data, many will be exempt and be granted a waiver. And, most importantly, the Sarasota County tax roll will be accurate and complete.

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

Identifying, listing and valuing taxable property in Sarasota County is the mission and mandate of the Property Appraiser’s office. In these critical economic times it’s imperative that every piece of taxable property is on the tax roll. Real property is easy to identify – it’s the land, and all buildings, fixtures and other improvements to the land. The invisible value is the value of the tangible personal property that the occupants/owners of that real property use in their activities as business owners and landlords. Think about it. Every piece of rental furnishings, every leasehold improvement, every power line, electrical substation, cell phone tower, vending machine, billboard, commercial sign, fashion mannequin, clothes hanger, stylist chair, blow‐dryer, shopping cart, time clock, ladder, saw, wheel barrow, lawn mower, leaf blower, office desk, conference table, file cabinet, movie projector, popcorn machine, bowling pin, table for two, professional range, ice maker, beer cooler, pressure washer, hydraulic lift, alignment machine, freight scale, warehouse shelving, milking machine, farm tractor, stapler, copier and pencil used as part of somebody’s business or to generate income is taxable tangible personal property.

In 2009 the taxable value of Tangible Personal Property accounted for 3.7%, or $1.72 billion of Sarasota County’s total taxable value.

In 2009 the accounts of FPL and Verizon represented Sarasota County’s top two taxpayers. Their combined taxable property value, real and tangible, accounted for 1.2% of Sarasota County’s entire taxable value.

In 2009 50 accounts made up 47% of the 34,597 Tangible Personal Property accounts.

In 2009, as a result of the passage of Amendment 1, about 70% of Tangible Personal Property filers, primarily small business owners, benefited from the new $25,000 Tangible Personal Property exemption, and were waived from paying personal property taxes.

Finding it all and valuing it all is a gargantuan task. That’s why all property owners in the State of Florida have a legal obligation to report tangible personal property by filing an annual return, DR 405. Anyone in possession of tangible personal property on January 1, who has a proprietorship, partnership, corporation, is a self‐employed agent or contractor, or leases, lends or rents property, must file an annual return unless a waiver has been granted. To qualify for the $25,000 exemption, and a possible waiver, a return must be filed by the April 1 deadline. Business owners, self employed people and landlords can help us to determine and report the taxable value of all property in Sarasota County by filing an annual return. As you can see from the data, many will be exempt and be granted a waiver. And, most importantly, the Sarasota County tax roll will be accurate and complete.

Statutes Governing Tangible Personal Property §192.001(11)(d) F.S. Tangible Personal Property means all goods, chattels, and other articles of value. Inventory and household goods are expressly excluded from this definition. §192.032(2) F.S. All Tangible Personal Property physically present on January 1 of each year shall be assessed. §193.052(3) F.S. A return for Tangible Personal Property shall be filed in each county which is the situs of such property. §193.062(1) F.S. Annual Tangible Personal Property returns shall be filed by April first of each year. §196.183 F.S. Exemption for Tangible Personal Property.‐ Each Tangible Personal Property tax return is eligible for an exemption from ad valorem taxation of up to $25,000 of assessed value. For more information on Tangible Personal Property taxes, exemptions, and to download a DR 405, go to www.SC‐PA.com . 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.


RiddellLaw Group

KNOWYOUR OPTIONS

R L G

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

Short SalesForeclosuresBankruptcy

The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free, written information about our qualifications and experience.

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

Cynthia A. Riddell, Esq.

Call For AFREE CONSULTATION

941-366-1300

Amendment 4 opposedby a diverse coalitionBy Ryan Houck

With Amendment 4 scheduled to appear on the November ballot, debate surrounding this controversial “Vote on Everything” proposal seems to intensify daily. Instead of focusing on their amendment and discussing its merits, the special interests behind Amendment 4 continue to attack its opponents with fanciful rhetoric and imaginative half-truths designed to distract voters from the facts.

However, as more Floridians educate themselves on the dangers of this amendment, opposition to the ill-advised proposal continues to grow. To date, more than 280 labor, civic, business, planning, and environmental groups oppose Amendment 4 (See Page 7).

What are they saying?Amendment 4 will devastate Florida’s economy. By costing

jobs and contributing to our state’s record unemployment, this ill-timed, misguided proposal has the capacity to crush what is left of Florida’s economic future. According to a study conducted by The Washington Economics Group, Amendment 4 would likely cost Florida 267,247 jobs and reduce economic output by $34 billion annually. Consequently, business groups such as the Florida Chamber of Commerce and the Florida Economic Development Council are opposed to this amendment. Mark Wilson, President of the Florida Chamber of Commerce, stated, “If you like the recession, you’ll love Amendment 4.”

Amendment 4 will promote sprawl. Environmental groups, such as 1,000 Friends of Florida and the Florida Forestry Association, have expressed concern that Amendment 4 will actually serve to exacerbate the sprawling patterns of development it claims to remedy. They worry that, by making it more difficult to amend comprehensive plans, Amendment 4 will lock in place the poor planning decisions of the past, thereby making smart, well-coordinated growth impossible. 1,000 Friends of Florida cites “piecemeal planning, and the possibility of ‘planning gridlock’,” as reasons for their opposition to the proposal.

Amendment 4 is poor public policy. For this reason, the Florida American Planning Association opposes the amendment. In fact, their website refers to Amendment 4 as “a single, expensive, and unwieldy solution to a complex and important set of issues.” Under Amendment 4, Floridians would be forced to vote on hundreds, even thousands, of comprehensive plan amendments each year. According to the Department of Community Affairs Sunset Review, there were nearly 6,500 changes to local government comprehensive

Continued on P. 31, See AMENDMENT 4

piIn response to Realtor® A’s advertisement, “Guaranteed

Savings! Don’t purchase without representation,” Mr. and Mrs. B signed an exclusive buyer representation contract with Realtor® A.

After viewing several homes accompanied by Realtor® A, Mr. and Mrs. B decided to make an offer on 12345 Hickory. The seller did not accept the offer. The listing broker explained to Realtor® A that the sellers were well-situated, spent much of their time at their vacation home, and had determined not to accept anything other than the listed price. Realtor® A, in turn, explained that to Mr. and Mrs. B. In response to their questions, he indicated that there appeared to be little point in making anything other than a full price offer but that he would be happy to continue to show them other properties.

Mr. and Mrs. B responded that they were not interested in other properties and had decided to make a full price offer on the Hickory Street residence. They did and their offer was accepted.

Following closing, and after discussing their transaction with friends, they wrote a letter to the Board of Realtors® indicating that while they were pleased with the service provided by Realtor® A, they thought that his claim of “guaranteed savings” was an exaggeration. After obtaining and reviewing a copy of the Code of Ethics, they filed a formal complaint alleging that Article 1, as interpreted

by Standard of Practice 1-4, had been violated.At the hearing, Realtor® A defended his advertisement

on the basis that as a buyer’s agent he was able to aggressively negotiate purchase agreements on behalf of his clients whereas the listing broker or subagents, with their loyalty to the seller, could not. He also indicated that, in many instances, his buyer clients paid less, often substantially less, than buyers dealing through listing brokers, subagents, or even through other buyer agents

However, in response to questioning by Mr. B’s attorney, Realtor® A acknowledged that, while savings were not uncommon, they were not ensured in every instance, particularly in cases where the seller was determined to receive full price. “But I offered to show them other properties and, if we looked long enough, I am sure I could have found them a bargain,” offered Realtor® A in his defense.

The Hearing Panel disagreed with Realtor® A’s reasoning, concluding that while savings might be possible, Realtor® A had been unable to demonstrate them in every instance and that this guarantee of savings was misleading. Consequently, his advertisement was in violation of Article 1. - Case #1-23: Claims of Guaranteed Savings (Adopted November, 1993 as Case #7-27. Revised April, 1994. Transferred to Article 1 November, 1994.)

Is exaggeration defensible? No!Et

hics

in A

ctio

n

Interboard arbitration is preferrableRealtor® A cooperated in the sale of

a commercial property with Realtor® B, the listing broker. Realtor® A is a member of the XYZ Board of Realtors®, and his office is located in the XYZ Board. Both the property and Realtor® B’s office are located within the jurisdiction of the ABC Board of Realtors® where Realtor® B is a member. A dispute arose between Realtors® A and B over the division of the commission.

Realtor® A filed a request for arbitration with the Professional Standards Committee of his Board. The President of the Board, when advised of the contractual dispute, subsequent to the Grievance Committee finding the matter arbitrable and of a mandatory nature, notified the President of Realtor® B’s Board and requested interboard arbitration in accordance with Article 17 of the Code of Ethics. The

arbitration request was brought before the Grievance Committee of Realtor® B’s Board which also determined that the dispute was arbitrable and of a mandatory nature.

One week before being notified of his Grievance Committee’s decision, Realtor® B filed suit against Realtor® A. The Board of Directors of the ABC Board notified Realtor® B to appear and answer to a charge of violation of Article 17 when Realtor® B did not withdraw the suit subsequent to being informed that both Grievance Committees had found the issue arbitrable and mandatory.

Realtor® B described his contractual dispute to the Directors and stated that he knew Realtor® A had requested arbitration because he had received a copy of the request. Realtor® B maintained that he had filed suit because Realtor® A was in another

Board’s jurisdiction and he did not think anything would come of the request since he, Realtor® B, was not a member of the XYZ Board.

Realtor® B was advised that since both Grievance Committees had determined the matter was arbitrable and mandatory that interboard arbitration was being scheduled to hear the dispute.

The Board of Directors concluded that his action in filing suit was not in itself in violation of Article 17 but advised Realtor® B that if he failed to withdraw from the suit and participate in the interboard arbitration, he could be found in violation of Article 17. - Case #17-2: Dispute Between Realtors® in Different Boards (Revised Case #14-6 May, 1988. Transferred to Article 17, November 1994. Revised November 1995)


pSarasota real estate market at highestlevel since 2005; prices remain stable

Property sales in May 2010 in the Sarasota market once again hit the highest total since 2005 and median sale prices continued the steady pace observed in recent months.

The 766 sales were the highest for the year, topping the April 2010 total of 757, and were the highest total since December 2005, and 51.3 percent higher than the May 2009 total of 506 sales.

Pending sales were once again strong, hitting 857, but were slower than April 2010. The March and April pending sales figures both topped 1,000, and reflected a last minute rush to beat the federal homebuyer tax credit deadline.

“The May 2010 statistics continued to show that the Sarasota real estate market is enjoying a steady recovery,” said 2010 SAR President Erick Shumway. “We saw a slight dip in the pending sales, which will likely be reflected in the sales numbers over the next 30 to 60 days. But median sale prices are higher than last year at this time, and we remain optimistic.”

Members of the Sarasota Association of Realtors® sold 539 single family homes and 227 condos in May 2010, a huge jump over May 2009, which saw only 375 single family homes and 131 condos sold.

The median sale price for a single family home was also trending higher at $169,000, up 8.4 percent from last May’s figure of $155,000. For the last 12 months combined, the median sale price for single family homes was $165,000. For condos, the median price was $184,500, slightly higher than

last May’s figure of $181,000, while the median sale price for condos over the last 12 months was $192,000.

The pace of sales quickened for single family homes, with

the average days on market dropping to 168, from 195 days last May. For condos, the figure stood at 213 days, slightly higher than last May’s figure of 203 days.

The level of sales of distressed properties (foreclosures and short sales) rose slightly in May 2010 to 40 percent of the overall market, from 38 percent in April 2010. The distressed market topped 48 percent in late 2009, so the overall trend remains downward – a good sign for a market returning to normal.

The property inventory level remained steady in May 2010 at 6,094, which

is the lowest level since late summer of 2005.The months of inventory for single family homes in May

2010 dropped to 7.2 months, the number of months it would take to sell all available homes at the current pace.

This was a significant drop from May 2009 – 14.3 months – and very near equilibrium. For condos, the figure fell to 9.7 months, much lower than last May’s figure of 19.0 months. Once the market reaches the 6 month level it is considered to be in equilibrium between a buyers and sellers market.

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and Cellulite Reduction Triniti for Skin Tightening

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“The May 2010 statistics continued to show that the Sarasota real estate

market is enjoying a steady recovery” - SAR President Erick Shumway

Bill Trier 941.586.6372

[email protected]

Kevin Silvestri941.809.5893

[email protected]

www.SRQHomeWatchServices.com


Sarasota MLSSM Statistics May 2010 Sarasota MLSSM Statistics May 2010

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of June 10th, 2010,including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse.

Single Family

#Active #Sold %Sold Average DOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported

%Pending # New Listings

# Off Market

This Month 3,883 539 13.9 168 $169,000 $165,000 7.2 626 16.1 711 214

This Month Last Year

5,380 375 7.0 195 $155,000 $205,000 14.3 719 13.4 694 412

Last Month 3,891 529 13.6 175 $165,000 $163,800 7.3 816 21.0 920 224

YTD ‐ 2,387 ‐ 173 $163,000 ‐ ‐ 3,485 ‐ 4,474 ‐

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

2009 93.0 93.1 92.5 92.4 93.2 93.8 93.2 93.6 94.2 94.4 94.1 94.2 2010 94.4 92.8 95.2 94.8 95.2 ‐ ‐ ‐ ‐ ‐ ‐ ‐

Source: Sarasota Association of Realtors®

0

100

200

300

400

500

600

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

Unit Sales Single FamilyCondo


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

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

Single FamilyCondoMedian Sale Price


Sarasota MLSSM Statistics May 2010 Sarasota MLSSM Statistics May 2010

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

Condo

#Active #Sold %Sold Average DOM

Median Sale Prices

Median Last 12 Months

Months ofInventory

Pending Reported

%Pending # New Listings

# Off Market

This Month 2,211 227 10.3 213 $184,500 $192,000 9.7 231 10.4 298 209

This Month Last Year

2,488 131 5.3 203 $181,000 $230,000 19.0 210 8.4 234 241

Last Month 2,269 228 10.0 203 $193,175 $192,000 9.9 344 15.2 354 212

YTD ‐ 971 ‐ 207 $180,000 ‐ ‐ 1,379 ‐ 1,754 ‐

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

2009 91.0 90.2 90.4 92.2 90.1 91.4 92.1 92.4 91.5 92.4 92.3 93.1 2010 92.5 92.4 92.5 93.2 94.2 ‐ ‐ ‐ ‐ ‐ ‐ ‐

Sarasota Association of Realtors® MLS

0

1,000

2,000

3,000

4,000

5,000

6,000


InventorySingle FamilyCondo


0

100

200

300

400

500

600

700

800

900


Pending SalesSingle FamilyCondo


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n) Commercial forecast: TurbulentThreatening skies may eventually bring sun and rainbowsBy Lee DeLieto, Jr.2010 CID President

With this being July, I’m sure many of you are reading this issue from your relaxing vacation destination. Hopefully it is somewhere in a cooler climate and away from our brutal mid-summer humidity.

Speaking of climate, I was asked the other day, as with many days, to report on the commercial climate. In a word: turbulent.

It’s ironic; with this being the second full month of hurricane season. Excuse the pun, but it seems like a hard driving rain storm just passed and we’re left with the hot humid stickiness of stagnant air.

Dad and I had lunch recently with Pete Skokos from Norton Hammersley, Lopez and Skokos. If you recall from a previous article, Pete is not only a local real estate attorney but also a member of the Superior Bank board. His duel expertise confirms my less-than-hot summer forecast for transaction activity. There is a lot of cash but no confidence to carry over to closings.

On more than one occasion, I have been preached the perception of all things gloomy. As to the marine forecast, one buyer sends me constant reminders of the oil spill as it devastates the Gulf and its impeding doom on our local economy.

This has forced me into the daily ritual of watching live streaming videos of deep sea mechanical aliens haphazardly attempting to cap the gushing well.

As to the dense cloud cover, another prospect insisted the inevitable demise of the PIIGS (Portugal, Ireland, Italy, Greece and Spain) could crash down its thunderous bolts of lightning, thus shutting off all hopes of tourist trade to our white sand paradise. At the writing of this article, Hungary was also threatening to

run haphazardly into the storm without an umbrella. I suppose we will then call it PHIIGS.

Although our economy seems to be impacted lately by dark skies elsewhere, I think it is probably best to focus our radar on the local disturbances. Unless you skipped right to my article (which I would be surprised if you did) you may have noticed the theme of this issue is geared toward voter registration as a lead in to a number of political storms starting to gain strength. It is not enough to simply register. You must also go to the polls and cast your vote.

The SAR Public Policy Committee has been hard at work trying to fend off the cataclysmic implosion of our industry with our platform to defeat Amendment 4.

Please refer back to Marc Mansfield’s article about Amendments 3 and 4 and Brad’s article to the right about tax abatement. Rising above these low lying storms, especially the defeat of Amendment 4, is tantamount to balmy conditions for our industry.

As meteorologists to the Sarasota real estate market, we must see through the scattered thunderstorms and maintain a sense of sunny smiles and blue sky dreams of closing many deals even when the global environment continues to quake. If you have questions, comments or topics for discussion, please feel free to write me at [email protected]

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

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

2010 CID Officers & Directors


Less taxes, more jobs ... four words we all supportBy Brad Lindberg2010 CID Vice President

A job is something that all of us at some time in our lives has needed to look for, and we all hoped that it would work out for the best.

It may not have been specifically your job, or your spouse’s job, but maybe a son or daughter, a nephew or niece. It may even have been a friend or colleague, but at some point in life, all of us has had the need for a JOB!

Sarasota County is putting on the August ballot a referendum for an Economic Development Ad Valorem Tax Exemption. The exemptions would be granted by the Sarasota County Commission in its discretion to a qualifying new business and/or an expansion of an existing business for up to 100 percent of the county ad valorem tax levied on the qualifying property of said business for a period up to ten (10) years.

Why is Sarasota County doing this?Answer: To bring more jobs to Sarasota.How does it work? Answer: It starts with a YES vote from you.

Here is how the economic engine provides new jobs.New Business –(1) A business establishing ten (10) or more jobs to

employ ten (10) or more full-time employees in the County which manufactures, processes, compounds, fabricates, or produces for sale items of tangible personal property at a fixed location and which comprises

(1) An industrial or manufacturing plant; or(2) A business establishing twenty-five (25) or more jobs

to employ twenty-five (25) or more full-time employees in the County, the sales factor for which, as defined in Sec. 38-235 (m), herein, is less than fifty (50%) percent inside the Metropolitan Statistical Area for each year the exemption is claimed; or

(3) An office space in the County leased or owned and used by a corporation newly domiciled in the County; provided such office space houses fifty (50) or more full-time employees of such Corporation; provided that such business or office first begins operation on a site clearly separate

from any other commercial or industrial operation owned by the same business; or

(4) Any business located in an enterprise zone (pursuant to Section 290.0065, Florida Statutes) and creating new full-time jobs in accordance with the business disciplines identified above.

Expansion of an Existing Business –

(1) A business establishing ten (10) or more jobs to employ ten (10) or more full-time employees in the County which manufactures, processes, compounds, fabricates, or produces for sale items of Tangible personal property at a fixed location and which comprises an industrial or manufacturing plant; or

(2) A business establishing twenty-five (25) or more jobs

to employ twenty five (25) or more full-time employees in the County, the sales factor for which, as defined in Sec. 38-235 (m), herein, is less than fifty (50%) percent inside the Metropolitan Statistical Area for each year the exemption is claimed; provided that such business increases operations on a site co-located with a commercial or industrial operation owned by the same business, resulting in a net increase in employment of not less than ten (10%) percent or an increase in productive output of not less than ten(10%) percent.

How is this important to me? Answer: More jobs mean more houses, more cars, more appliances, more meals out etc. It affects every one of us. A vibrant economy means less taxes and a secure future for our children.

So remember, on August 24th, 2010Vote YES for the Tax Abatement referendum.

CID plans program for July 20thThis month’s CID program will be held in the SAR Main

Auditorium on Tuesday, July 20th at 8:30 a.m., and all CID members are invited to attend.

The program is currently under discussion, and could be devoted to the subject of Amendment 4, and ramifications on commercial real estate. Stay tuned to the CID email updates for details.


Educ

atio

n Pr

ogra

ms GRI Course 3 coming to Sarasota soon!

Title: GRI Course 3Dates: July 26-28, August 3-4, 8 a.m. to 5 p.m. (varies)Credits: 15 hours broker post-license credit, or11 hours continuing education Cost: SAR Members by July 12th: $275Non Members by July 12th: $300After July 12th: Add $25

The three courses leading to the GRI designation in Florida can be taken in any order. No need to start with Course 1!

GRI 3 concentrates on the specialty areas of real estate, including International, Property Management, Counseling, Negotiation, Common Ownership, Land, Broker Management, Exchanging, and Taxation Part 2.

About GRIThe GRI designation indicates to buyers, sellers

and other real estate industry professionals that you have made the commitment to provide a high level of professional service to your clients by securing a strong educational foundation.

The GRI designation, Graduate Realtor® Institute, is the nation’s #1 real estate designation. It is earned through state associations whose courses of study meet the standards established by the National Association of Realtors®. The designation is available only to members of NAR.

Internet-minded? The GRI designation can now be earned entirely online (but temporarily without CE credit). For details, go to www.fargri.com (but we would prefer to see you in class here at SAR!)

Title: Understanding Condo and Home Owner Association FinancesDate: July 14, Noon to 1:30 p.m.Location: SAR Main AuditoriumCost: Free to SAR & SCBA Members; others, $10

Ever wonder if the reserves for an association are adequate? Ever had trouble explaining the financials to your customer? Come to this lunch and learn seminar and walk away with a better understanding of Association Financials.

If the last seminar on condos had you “wanting

more,” here is your chance to receive it. Bring your own lunch—beverage provided.

Panelists include:William Sutton, CEO, Progressive Community

Manager, Inc.Telese McKay, Attorney & Founder of the McKay Law

Firm, P.A.Jay Clarkson, Principal at CS&L, CPAsThe seminar is sponsored by the Realtor®-Attorney

Joint Committee of SAR & SCBA

Lunch & Learn: Condo finances explored

The recent GRI 2 class gathers for a group shot prior to the final exam. SAR is hosting all three GRI course levels this year, with the final one beginning in late July.


Tax deferral strategies explainedTitle: Tax Deferral StrategiesDate: July 21, 9 a.m. to NoonLocation: SAR Main Auditorium3 hours CEInstructor: Attorney Claudia KiernanCost: $10 (SAR members) $20 (others)

This updated course will detail the entire exchange process, start to finish, as well as covering some of the more complex applications of Chapter 1031.

The goal is to ensure exchanges are well received by the IRS and the entire process is fluid and complete for both the professional and their client. The presentation will be three hours in length and offers 3 hours of continuing education. Attorney Claudia Kiernan, Investment Property Exchange Services Inc., St. Augustine, FL, instructs.

The seminar will cover: - The Role of 1031 Exchanges in the

Next Real Estate Wave - Short Sales and 1031 Exchange - Benefits and Reasons to Pursue a 1031 Exchange - How to 1031 Exchange Vacation Homes and Second Homes - Amendment to the Primary Residence - Exclusion and 1031 Exchange - Growing Your Business and Clients’ Wealth - Seller Financing and 1031 Exchange - Exchange and other issues.

Title: 14-Hours Continuing Education for License RenewalDates: Aug. 10-11Location: SAR Main AuditoriumInstructor: IFREC Real Estate SchoolCost: SAR Members $79; Non-members, $99

The Institute of Florida Real Estate Careers, headquartered in Orlando, Florida, will be the provider this year of the 14-hour license renewal course for SAR.

Founded in 1983, the Institute of Florida Real Estate Careers, Inc. (IFREC) is recognized as the leader in Florida real estate education.

This session provides the full 14-hours of continuing education needed for license renewal. The 14-hours CE includes 3 hours of Core Law. Or, you may opt to take only Core Law, which consists of the first three hours of the 14 hours.

SAR members, please go to www.sarasotarealtors.com to

register for the live course. Non-members, go to the education tab at the top of the home page (www.sarasotarealtors.com) to download a registration form that can be completed and faxed to SAR.

Continuing Education offered at SAR: 14 Hours CE

Two tech courses coming in SeptemberTitle: Security and Risk Management on the InternetDate: Sept. 1, 9 a.m. to NoonCost: $30 (SAR members); $40 (Others)3 Hours CEInstructor: Chuck Bonamer

Learn about security, Florida requirements, facsimile communications to DBPR, Cookies, Wireless Encryption, applications to protect principals/customer documents, account, escrow and anti-virus software, maintenance, State of Florida sites & much more!

Title: A Real Estate Agent’s Guide to TechnologyDate: Sept. 1, 1 to 5 p.m.Cost: $40 (SAR members); $50 (Others)4 Hours CEInstructor: Chuck Bonamer

Learn about web site effectiveness, branding, domain names, computer telephony, internet telephone, fax technology, e-mail, e-mail graphics, translation software, virtual reality, contact management, search engines and indexing programs, equipment, maintenance, more!

Instructor Chuck Bonamer


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

who has successfully completed the National Association of Realtors® designation programs, Accredited Buyer Representative (ABR).

ACCREDITED BUYER REPRESENTATIVE (ABR)

Ricardo Ruiz del Vizo Coffey & Company Realty 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]

Realtors®: Beware of criminal Craigslist scamsThis is an important alert for SAR members.The Federal Bureau of Investigation has issued a consumer

alert affecting real estate listings in a rental housing scam. Criminals are searching web sites that list homes for sale. They take the information in those ads - lock, stock and barrel - and post it, with their own e-mail address, in an ad on Craigslist (without Craigslist’s consent or knowledge) under the housing rentals category.

The houses are almost always listed with below market rental rates. The listings may also be posted on other rental sites.

Potential renters might then be asked to fill out credit applications asking for personal information like credit history, social security numbers, and work history. Criminals can use this information to commit identity fraud and steal money from their victims.

Realtors® are encouraged to check to see if their listings are appearing on any of the following sites:

• www.rentalhouses.com• www.rentals.com• http://sarasota.craigslist.org/apa/ (try searching by

address or zip code)Agents may wish to consider signing up for Google Alerts

(http://www.google.com/alerts) for each of their listings in order to get an e-mail anytime that address is posted on a Web site.

SAR has sent a letter to agents who have contacted us about this issue, thanking them and noting that we have seen several cases of unauthorized listing display. We recommend the following approach.

Contact the website owners using every possible method (registered mail, email and telephone) to make it clear that you are the listing agent on the property appearing on their site. Explain that the display of your listing information on the site is not authorized and demand that it be removed immediately.

After seven days, check the site to see if the listing has been removed. Follow up with the site owners again if it has not been removed. In other words, stay after them until it is removed.

Keep a log of the paper trail, e-mails and phone calls that reflect your attempt to proactively get this situation resolved.”

If you notice a scam, contact your local police or call the Federal Trade Commission’s toll free hot line at 1-800 F-T-C HELP.

You can also visit the FBI’s Internet Fraud Website athttp://www.fbi.gov/majcases/fraud/internetschemes.htm NAR has commented on it several times and this is the

link they provided to file a complaint http://www.ic3.gov/complaint/default.aspx.


MLXchange education on schedulePre-registration is required for all

MLXchange classes at www.mfrmls.com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot!MLXchange BasicJuly 7, July 19, 9 a.m. to Noon

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

Mandatory session for all new users.

- Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact informationEntering and Updating Listings in MLXchangeJuly 7, July 19, 1:30 to 3:30 p.m.

This class is mandatory if you will be entering and updating your own listings. You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.- Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that have specific entries in the Rules and

Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch - easiest way to modify the listingsMLXchange AdvancedJuly 15, 9 a.m. to NoonTake MLXchange to the next level! In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches.- Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/removing fields, changing the column headers and changing the field sort orderDesign Web Pages, Capture LeadsJuly 22, 9 a.m. to Noon

One of the most crucial components in today’s real estate professional’s day-to-day business is capturing and handling leads along with time management. This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go hand-in-hand with a successful real estate business.iMapp - Interactive Taxand Mailing LabelsJuly 26, 1:30 to 3:30 p.m.

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

comparable properties - MLS and foreclosure searchesCreating a Professional CMAJuly 26, 9 a.m. to NoonThis class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Creating a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, selecting pages, and viewing report - Editing and removing reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default Maximizing Your MFR Productivity ToolboxJuly 27, 9 a.m. to NoonThis class introduces the user to the often overlooked plug-ins and features that are designed to save you time and money, as well as adding an extra level of service to your customer.Using MLXchange to Effectively Manage Time & ContactsJuly 27, 1:30 to 3:30 p.m.Time and contact management are more important than ever in today’s fast-faced real estate industry. This course will show you how to maximize the tools available in MLXchange along with other products that work hand-in-hand allowing you to become more productive in your real estate business.- Adding and managing Contacts- Creating mailing Labels- Modifying and creating Email templates- Scheduling Tasks and appointments- Activity Plans manager (to-do list)- Outlook synchronization- Communicating through client web page


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SAR members are active, energized and out in force in the community! You can find hundreds of photos from our regular events at www.facebook.com/SarasotaRealtors Please visit soon and tag your friends and business associates!

Make the scene at SAR events!

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

Kimberly Bailey of One World Realty of Southwest Florida won the Dell Netbook prize at the June 18th Realtor Rally. Congratulations!

John Akin, Steve Bennion, Stella Giudicelli and Tom Zaharakis attend the May 25th SAR Affiliate Social at Gecko’s (Hillview).

Kathy Marlowe, Christine del Monte, Anne Weintraub and Gail Shane at the big District 13 Conference and Trade Show (Realtor Rally) on June 18th.

Photography byJesse Sunday


Jag Grewal and Joe Hembree, Jr. attend the June 22nd SAR Affiliate Social at Gecko’s (Hillview).

Laura Benson and Shawn Drourr at the June 22nd SAR Affiliate Social at Gecko’s (Hillview).

Karlie Bennett and Eric Peters attend the May 25th SAR Affiliate Social at Gecko’s (Hillview). Paula Cashi and Carla Rayman attend the June 18th Realtor

Rally District 13 Conference and Trade Show at MAR.


rMLS

FAQ Point2 Agent offers marketing advice

Editor’s Note: Point2 Agent, a partner of SAR and the My Florida Regional MLS, pulls listing information directly from the MLS system for the purpose of syndication, eliminating manual listing entry at multiple web sites.

By Tanya SpilchakPoint2 Agent Education Coordinator

Recently, there have been a number of conversations relating to website content and, while the member who asked the initial question received the specific assistance, there was inevitably advice that everyone can use for their own sites. One such piece of advice was related to focusing on providing neighborhood and listing information, rather than the site owner(s) and what he/she/they can do for their customers.

Now, that might instantly beg the question: “Yes, but don’t customers look for someone who is friendly, helpful, and willing to focus on them?” The answer? Yes, they do. But keep in mind that online visitors who are searching for properties are, ultimately, looking for a place to live. Part of the process of procuring that place to live is to have someone who is friendly and helpful actually assist them in achieving that ultimate goal.

Let’s consider an online search that we have all likely done: vehicles. In considering purchasing a newer vehicle, we likely went online to see some of the makes and models on the market, compare gas mileage, read consumer reviews, look into what is included as part of the standard package versus additional charges, so on and so forth. In going to a website, we were wanting information on a specific vehicle.

Now, consider what your reaction would have been if you had gone to that website and the pages focused on a sales person you might see at the dealership. Would you have been annoyed, surprised, turned off? Or, to put it bluntly, would you have even cared who he or she was? Probably not, considering you were online looking for options, for pricing, and for general information to help with your decision on what vehicle might work for you. The key focus here: you, and a vehicle.

Sales is definitely a people business, although the driving force of the sales industry is the products and the consumers needs/wants. The really successful sales people have identified this and capitalized on it.

Think of the best sales person you have ever met when you were the consumer. What did they do to make you feel special, to determine the correct product

for you, to find you the best return on investment? What was their focus? Chances are it was you. Chances are you left feeling great about that purchase, great about what you would be able to do with it, great about possibly working with them again in the future, great about sharing your experiences with others and recommending that sales person to others.

Their approach may have been in person, but the sales theory behind their interaction with you can be utilized for your website, despite the fact that you aren’t physically conversing with those online visitors. In customizing your site, all of the content comes from you and your commitment to working with sellers to list their properties and your commitment to working with buyers to find their new home. Your enthusiasm, passion, dedication, and integrity will form the basis of the words you choose, the focus you put on those visitors reading your site, and your commitment to them. Focusing on them on your website before they are clients means that you will continue to focus on them when they decide to work with you. That relationship, that trust, that commitment stems from you.

Perhaps Oscar Wilde said it best: “Every portrait that is painted with feeling is a portrait of the artist, not of the sitter.” This quote conjures up thoughts of Leonardo da Vinci’s “Mona Lisa”. In viewing the painting, it is obviously a portrait of a lady. Delving into it further though, there are subtle resemblances to da Vinci himself. The focus was on her, but a part of himself is also included. The focus can be on your potential clients, but also about how you plan on working with them, providing assistance, and ensuring their satisfaction. Paint that story, that commitment, that plan in the content of your website, and it will be apparent that you, as the owner of the site and the real estate professional, are the artist who will make it all happen for them.

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By G.M. FiliskoRealtor® Magazine Online

Following the lead of retail banking chains, real estate brokers are opening shop in supermarkets and malls.

Ranch dressing or ranch homes? Condiments or condos? At grocery stores around the country, shoppers are finding more than the usual selection of foods and household goods. Now they can also buy homes.

Brokers are staking out space in supermarkets to increase their visibility and make their office more convenient for consumers.

“It’s nice to have big office locations, but you’ve got to be where the people are,” says Gerald Murphy, broker at Keller Williams Gold Coast in Chicago, who opened an office in a Dominick’s grocery store in 2009. “Dominick’s customers are our clients.”

Expect to see more variations on the office-in-retail theme. “Because of the recession, the brokerage model needs a complete overhaul,” says Sherry Chris, chief executive of Better Homes and Gardens Real Estate in Parsippany, N.J. “Many brokers are paying exorbitant rents on large spaces that are hardly even used by their sales associates. They’re starting to see that it makes sense to have a hub-and-spoke model, with a main office and satellites.”

Small Space, Big TrafficMurphy’s 300-square-foot office

in a Chicago supermarket houses two computers, a desk, and some counter space. It’s open from 10 a.m. to 7 p.m. Murphy estimates it costs about half of what he’d pay for a 2,000-square-foot space, and it comes with free parking—a big bonus in downtown Chicago.

“It’s a nonthreatening environment where people can

come up and feel comfortable asking questions,” Murphy says. “We’re just trying to share information. A week hasn’t gone by that we haven’t got a listing or sale from the Dominick’s office.”

In the Northeast, Jay Hummer, executive vice president of the 234-office RE/MAX of New England based in Natick, Mass., has signed an agreement to open outposts in 17 Stop & Shop Supermarket Co. locations in the next year. Each office will be 200 to 400 square feet and will be open about 50 hours per week.

“These grocery stores have huge foot traffic,” Hummer says.

Hummer also plans to use the space to recruit sales associates.

“There might be a big sales team at another company that wants to branch out,” he says. “It’s a great recruiting tool.”

Beyond Grocery StoresIt’s not just grocery stores that are

attracting micro real estate shops. Tricia Fox, head of the Tricia Fox

Group at Keller Williams Gold Coast in Chicago, operated a kiosk at Shops at North Bridge—an upscale mall on Michigan Avenue—for about three months in 2009. She would have stayed longer had the rent not doubled.

“With today’s impersonal computer-based marketing, it gave us the chance to have what I call a ‘continual open house,’” she says.

Keith Nelson, CRB, designated broker at Better Homes and Gardens Real Estate Executive in Bellevue, Wash., is now paying about one-fifth the rent he used to pay on a 4,000-square-foot freestanding office. Now he operates a 1,200-square-foot space across the lobby from a restaurant in a mixed-use building near the city center.

“The trend is moving toward convenience centers,” says Nelson. “People walk into the restaurant and see our door. Our visibility has increased, sales productivity is up, and the environment is positive. We’re engaged in the community.”

Office-in-retail: The Convenience Factor


hBy Karen Grant2010 WCR President

High energy and excitement was at the Women’s Council of Realtors® Mid-Year Conference in Washington D.C.

Members from all over the country gathered to share information about business, attend great education sessions, and participate in networking opportunities. Approximately one hundred Florida members attended the event, where strategic forums and learning labs were among the sessions of development. Among the forums were: Leadership Development; Business Development; Member Network; and Outreach & Influence. These forums were informative and intra active with many of the members giving ideas and testimonials. There were learning labs which several of our Florida members participated as leaders, such as: “Putting More Spark Back in Your Chapter”; “Assessing Your Finances”; and “The Money Crunch”.

The highlight of the conference was the Awards Banquet. Local chapters were recognized for their 2009 excellence in programs and business plans. Sarasota was among the chapters who brought home the Gold for Excellence. Our State of Florida received the 2009 Super Mega State Chapter of the Year Award for the entire country. Wells Fargo, a national sponsor, recognized several chapters for their superior programs that advanced the professional knowledge of Realtors®. Sarasota Chapter received a monetary award for Recruitment for 2010. We were #1 in the state and #2 in the nation for recruiting New Members. This was the result of installing fifty-five new chapter members. Thanks to all who participated in the Mid-Year Conference, a memorable event.

The Sarasota Chapter had a New Member Orientation, honoring 55 new members. The executives at Morgan Keegan let us use their office facilities for the event. The offices were located at one Sarasota Towers. The night was perfect with gorgeous views, from the 9th floor overlooking the bay. The theme of the night was,” What is Women’s Council of Realtors®?”

Our Mission, Vision Statement and Long-Term Goals were said by several of our members. Testimonials were given by Ann Ross, Sharyl Smith and Tina Darling. Committee chairmen were introduced: Marianne LeBar, Membership; Mary Conklin, Programs and Education; Debbie Bowis, Ways & Mean; Gail Shane and Melia Favorite, Fashion Show; Tina Darling, Website and Sonya Hamouda, Roster. Comments were made and break outs

sessions followed as new members departed and went to their interested committee chairs for further information. Thank you to all who participated in this event. A special thanks to Leslie Lauritano, Region Mortgage; Tina Darling, Innovative Agent Services; David Freed, Branch Manager at Morgan Keegan; and Nick DeVirgilis, Vice President at Morgan Keegan who helped make this a special evening for everyone.

A special member of WCR, Erick Shumway, President of the Sarasota Association of Realtors®, spoke about the positive attitudes needed in today’s market place.

Check our website, www.SarasotaWCR.com and find out more news about our upcoming events. Save the Date for our Fabulous Fashion Show at the Polo Grill on September 15th. The committees are busy planning for a spectacular event. We have a theme “Dazzle, Glamour, Dine, and Glitter”

WCR 2010 ProgramsJuly 9, 11 a.m., Laurel Oak Country Club: “Goal

Setting and a Successful Mindset” - Michelle Teyhe, Professional Life Coach

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

Sept. 15, 11 a.m.- Fashion Show - Polo Grill; Theme - “Dazzle, Glamour, Dine and Glitter”

Oct. 8, 11 a.m. - “What’s Happening in Washington” - Rep. Vern Buchanan (if available), The Field Club

Nov. 12, 11 a.m. - “The Impact of the Ringling Museum”, University Park Country Club: Award Ceremony and Farewell

Dec. 10, 11 a.m.: Installation of 2011 President and Board, Sarasota Yacht Club

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

Sarasota WCR wins excellence award

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

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

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

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

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

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


International Real Estate

Expand your market with International CongressPrepare yourself to present opportunities to domestic

and foreign buyers looking to invest in vacation or future retirement properties in your local market. Become a participant in the 4th Annual Sarasota International Real Estate Congress, set Sept. 22-23.

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

Mark your calendar now for the 4th Annual Sarasota International Real Estate Congress on Sept. 22-23.

Remember - the world is coming to Sarasota this fall, and you can take advantage of a major opportunity to expand your rea estate business!

Sarasota, Florida is best buy in the Western World!This was the headline in International Property

Journal, an independent, authoritative source of news and information for agents, investors, and industry executives working in global property markets.

The story, which appeared on June 17, 2010, cited a report published by Global Edge, ranking popular resort and second home locations around the world.

IPJ reported that Sarasota was the cheapest western

holiday home destination, crediting that to the fact that the market has fallen over the past two years and the number of distressed properties available for sale to foreigners.

The full report, issued by international real estate group Savills, included a list of best-value destinations in 35 countries around the globe. Copies of the articles can be found on SAR’s web site under the Hot Topics section of the front page.

SAR completed the Certified International Property Specialist designation class in June, and 18 students took advantage of the opportunity to expand their real estate knowledge and know-how into the international arena. Congratulations to our newest CIPS designees!


Mem

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hip

New

sDesignated Realtors®

Aborlleile, Josie: Josie Aborlleile, Lic. R.E BrokerAtkinson, M Deeana: Coldwell Banker Res R EBright, J. Barry: Sandals Realty of SarasotaComito, Ronald: Ron Comito & Associates Inc.Donato, John: John Donato Real Estate BrokerGreig, K. Roger: Sarasota Realty Associates Inc.Kearney, E. Kitt: Homes By Towne Realty Inc.Losey PA, H Michael: Platinum Home SalesLythgoe Anna: Anna Lythgoe Lic. R.E. BrokerNaldrett-Bilodeau, B. Pat: Ashton Lakes Realty Inc.Steward, Marie Joyce: Joyce Marie Steward R E BrokerStoltzfus, C. Ivan: Coastline Auction & Realty Inc.

New MembersAuen, Greg: Blakeley & Associates RealtyAyala, Rosa: Century 21 AdvantageBailey, Pamala: Town and Country Real EstateBarker, Louis: Michael Saunders & CompanyBissat, Julie: Prudential Palms RealtyBowden, Benjamin: Kathy Marlowe & Assoc. RealtyByrd, Sharon: Casey Realty CorporationChester, Vivian: Michael Saunders & CompanyCorrell, Joseph: Keller Williams Realty ManateeDunham, Nathan: RER InternationalEisnaugle, Tracy: Coldwell Banker Res R EHyatt, Ronald: Keller Williams Lakewood RanchKhleif, Albert: Wagner RealtyLanday, David: RE/MAX Platinum RealtyLang, Gaylyn: Waterside Realty LLCLauren, Shana: Coldwell Banker Res R ELingle, Dennis: Sarasota Home RealtyMarch, Carl: Prudential Palms RealtyMarkov, Andrey: Tarpon Coast Realty Inc.McDermott, Jeannie: Coldwell Banker Res R EMitchel, Cary: Waterside Realty LLCPatterson, Jennifer: Florida 1 Realty Services LLCPimlott, Steven: Horizon Realty InternationalReece, Martyn: University Park Lifestyles Inc.Siegel, Robert: Nextage Lighthouse RealtySoberano, Margaret: Sarasota Foreclosures.com Inc.St. Hilaire, Beverly: Michael Saunders & CompanyTeresa, Sandra: Prudential Palms RealtyVan Vlaenderen, Randall: RE/MAX Alliance GroupWolk, Barry: Nextage Lighthouse Realty

Now With ...Adair, Elaine: RE/MAX Alliance GroupAllen, Sandra: Nextage Lighthouse RealtyAndres, Roberta: Michael Saunders & CompanyBailey, Steven: Prudential Palms RealtyBaker, Pamela: Prudential Palms RealtyBaylis, Chris: Prudential Lakewood Ranch RealtyBesio, Peter: Prudential Lakewood Ranch Realty

Cannon, Jenny: Michael Saunders & CompanyChartier, Mike: Horizon Realty InternationalClark, Louise: Coldwell Banker Res R ECumston, Shaun: Sterling RealtyCutmore, Ian: Prudential Lakewood Ranch RealtyCutmore, Julie: Prudential Lakewood Ranch RealtyDeVittori, Ronald: Zupa & AssociatesEichenberger, Whitney: Michael Saunders & CompanyFellabaum, Pamela: Point Properties of SarasotaFiglow, Nicholas: RE/MAX Premier ServicesGadah, Gaby: Charles Rutenberg Realty IncGesell, Ellen: Prudential Lakewood Ranch RealtyGolden, Jo-Anne: Prudential Lakewood Ranch RealtyHoran, Francis: Prudential Lakewood Ranch RealtyHuartson, Thomas: Prudential Lakewood Ranch RealtyHuartson, Toni: Prudential Lakewood Ranch RealtyIcely, Shawn: SB Realty Inc.Jonsson, Paula: Coldwell Banker Res R EKeyser, Vikki: Keller Williams Lakewood RanchKing, Dennis: Prudential Lakewood Ranch RealtyLa Rue, Judith: Tarpon Coast Realty Inc.Lane, Erika: Wagner RealtyLaRosa, Stacey: Prudential Lakewood Ranch RealtyLaRosa, Millicent: Prudential Lakewood Ranch RealtyLeavey, Patricia: Coldwell Banker Res R ELyon, Patricia: Prudential Lakewood Ranch RealtyLyon, Randolph: Prudential Lakewood Ranch RealtyMiller, Susan: Prudential Palms RealtyMiller, Jennifer: Blakeley & Associates RealtyNaylon, Douglas: Tarpon Coast Realty Inc.Oswald, Miranda: Coldwell Banker Res R EParker, Gladys: Prudential Lakewood Ranch RealtyRackey, Sally: RE/MAX Platinum RealtyRiozzi Fields, Joanne: Prudential Lakewood Ranch RealtyRussell, Bernard: Sandals Realty of SarasotaSavinsky, Noreen: RE/MAX Alliance GroupSepe, Diana: Prudential Lakewood Ranch RealtyShidel, R. June: Prudential Palms RealtySmith, Lisa: Prudential Lakewood Ranch RealtySoda, Jim: Prudential Lakewood Ranch RealtySoda, Donna: Prudential Lakewood Ranch RealtySola, Frances: Michael Saunders & CompanySolorzano, Vanessa: Prudential Palms RealtySvenson, Inger: Manatee River Community RealtyTaylor Barnhill, Susan: Sarasota Realty Associates Inc.Turrentine, Judith: Coldwell BankerUihlein, Brendra: Prudential Lakewood Ranch RealtyVelez, Emily: Dawn Cohen and AssociatesWalsh, Kevin: Platinum Home SalesWeaver, Karson: Prudential Palms RealtyWilliams, Barbara: Venice Real Estate CompanyWood, Kirby: Prudential Lakewood Ranch RealtyYeager, Judy: Coldwell Banker Res R EYoung, Kimberly: Prudential Lakewood Ranch RealtyZack, Emelie: Charles Rutenberg Realty Inc.Zoller, Kelly: Prudential Lakewood Ranch Realty

The Association is pleased to welcome new members!


New AffiliatesBank of America, LLC1605 Main Street Suite 103Sarasota, FL 34236Phone Number: 941-952-2888Representative: Charles J CourySpecialty: When you choose Bank of America as your mortgage lender, you can rest assured that our attention to customer servcie will continue even after repayment peroid begins.Email: [email protected]

Security 1 Lending4304 Longchamp DriveSarasota, FL 34235Phone Number: 941-232-4417Representative: James R. Wright Jr.Specialty: With over 37 years of expertise in the mortgage field, I am the Southwest Florida Loan Representative for

Security 1 Lending. Security 1 Lending offers a complete range of mortgage services including first-time home buyers, refinancing, reverse mortgage and more. I will take the time to address your specific home loan needs and help you determine your best financial solution. Give me a call today. Email: [email protected]

Urban Trust Bank, LLC235 N. Orange Ave Suite 101Sarasota, FL 34236Phone Number: 941-504-0823Representative: Linda McConnellSpecialty: As an experienced and seasoned professional who has worked all phases of mortgage lending from processing to underwriting, my goal is to exceed your expectations by making your mortgage process simple and hassle free. Let me put my 28 years of lending expertise to work for you.Email: [email protected]

plans in fiscal year 2006-2007, and a 2003 Department of Community Affairs Program Summary reports 16,581 plan amendments in 1999.

Amendment 4 will delay community improvements. The WEG study states that Amendment 4 would “force local and state governments to either raise taxes or cut services.” Ultimately, the study notes, “Public schools, public safety and local health care services would suffer from both the direct impact of Amendment 4 (delay construction until the next election) and the indirect impact of fewer tax revenues from which to fund needed operations and capital investments.” As Floridians struggle to make ends meet, the last thing our state

needs is a proposal which will delay the creation of much-needed schools, hospitals, and fire stations. For this reason, the Florida School Boards Association opposes Amendment 4.

Amendment 4 will hurt Florida’s working families. The Florida State Council of Machinists and Aerospace Workers, an AFL-CIO/CLC trade union, states “Amendment (4) poses a grave threat to Florida’s unique quality of life, the stability of its communities, and the prosperity of its families…”

The coalition of opposition to Amendment 4 is virtually unprecedented in its diversity and scope because the threat of this proposal transcends traditional social and political boundaries. To learn more or to get involved, please visit www.florida2010.org, and remember, this November, VOTE NO on Amendment 4!

AMENDMENT 4From Page 12

FUTUREFrom Page 6

By becoming more educated on short sales and foreclosures and working closely with bank lenders to lower the number of distressed properties, several positive things will happen.

First, neighborhoods will be improved by the elimination of vacant, often poorly maintained homes. Through sales to owner occupants, or to investors hoping to rent out the properties and achieve positive cash flow, as the market enjoys lower and lower levels of distressed properties, Sarasota will be revitalized and energized. Occupied homes mean higher spending at local shops, restaurants, etc. This in turn leads to improved employment, and the cycle perpetuates itself.

Second, fewer distressed sales will bring the overall blended median sale prices to a higher level. This is positive for overall property values, which eventually means higher equity in homes for most residents. Higher home equity generally means higher net worth, improved credit availability, more

spending, and a recoverying local economy.While there is obviously very little local Realtors® can

do regarding the hurricane season, or the BP oil threat, SAR members can help educate the public on the need for preparedness on both fronts.

Inform your clients on the basic storm preparations, and point them to vital online resources. Provide them with the history of Sarasota’s experience with hurricanes - we have been very fortunate as a community for many decades. Become a valuable friend and neighbor - more than just a real estate agent. It will pay off in more ways than you can imagine.

As for the oil catastrophe, Sarasota has been fortunate up to this point, and hopefully will not see the most dire impacts now being experienced in other Gulf states and along the Florida panhandle.

Keep your clients informed on this front by pointing them to the Florida Realtors® web page and important online information as the crisis unfolds. Remember - silence can lead to ignorance and misinformation, so be proactive.


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$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

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

REO Short Sale Arm's LengthSingle Family Median Sale Price


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000


REO Short Sale Arm's LengthCondos Median Sale Price

Monday Tuesday Wednesday Thursday Friday

June 28

29

30

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

2 9 a.m. CID Commercial Marketplace

5 SAR Office Closed Independence Day

6

7 7:30 a.m. Toastmasters 9 a.m. MLXchange-Basic 1:30 p.m. Entering & Updating Listings

8 8 a.m. Power Marketing (SAR)


12 9 a.m.– 4 p.m. New Member Orientation & Code of Ethics

13

14 Noon Realtor/Attorney “Lunch & Learn” Understanding Condominium Finances 5:30 SYR Social House of Beers

15 8 a.m. Power Marketing (SAR) 9 a.m. MLXchange Advanced 1:30 p.m. Design Web Page

16 9 a.m. CID Commercial Marketplace-Off Site 11:30 a.m. Quarterly Memberhip Meeting-Troyer’s Dutch Heritage

19 9 a.m. MLXexchange Basic 1:30 p.m. Entering & Updating Listings

20 8:30 a.m. CID General Membership

21 7:30 a.m. Toastmasters 9 a.m. Tax Deferral Strategies

22 8 a.m. Power Marketing (SAR) 10 a.m. Photographer


26 8:30 a.m. GRI 3 9 a.m. Creating a CMA 1:30 p.m. iMAPP

27 9 a.m. GRI 3 9 a.m.Tools 1:30 p.m. Managing Time & Contacts 5 p.m. Affiliate Social Gecko’s on Hillview

28 9 a.m. GRI 3

29 8 a.m. Power Marketing (SAR)

30 9 a.m. CID Commercial Marketplace 1 p.m. Realtor DAY-Bowling Sarasota Lanes

JULY 2010

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

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

SARASOTA ASSOCIATION OF REALTORS® EDUCATION/EVENTS CALENDAR

The Xtra Pages - D

igital Version Only


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000


REO Short Sale Arm's LengthSingle Family Median Sale Price


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000


REO Short Sale Arm's LengthCondos Median Sale Price

0

200

400

600

800

1,000

1,200


New Listings Single Family

Condo

Source: Sarasota Association of Realtors® MLS


0.0

5.0

10.0

15.0

20.0

25.0


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

Single Family 14.3 10.0 9.0 10.3 9.8 9.3 9.4 8.1 11.5 10.6 7.2 7.3 7.2

Condo 19.0 16.1 16.9 20.5 15.1 15.0 14.6 12.3 14.7 15.4 11.8 9.9 9.7

Months of Inventory


$0

$50,000,000

$100,000,000

$150,000,000

$200,000,000



Single Family $98,080,096 $124,493,410 $155,965,679 $93,852,581 $108,129,703 $106,634,831 $118,741,492 $138,311,391 $91,178,403 $90,615,651 $153,809,260 $154,066,294 $173,409,735

Condo $39,960,762 $52,908,252 $47,470,370 $37,933,125 $48,128,868 $46,426,400 $43,392,376 $56,455,335 $45,146,896 $43,400,202 $67,589,008 $67,375,445 $65,727,253

Overall Sales Volume

11267

Annual Sales ‐ 2000 to 2009Single Family Condo Total

9697

11267

10562


6,504

7,596

6,8416533

7036

8167

9697

11267

10562

63586042

6739


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

3,671 3,721

65337036

8167

9697

11267

10562

63586042 5820

6739


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

65337036

8167

9697

11267

10562

63586042 5820

6739


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

65337036

8167

9697

11267

10562

63586042 5820

6739

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

65337036

8167

9697

11267

10562

63586042 5820

6739

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


Annual Median Sale Price ‐ 2000 to 2009 Single Family Condo

$351,000$342,000

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

$336,250$320,000


$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

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

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

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

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

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

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

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

$173,000$191,000

$225,000

$305,000 $301,225

$336,250$320,000

$210,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009



0

200

400

600

800

1000

1200

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

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


0

100

200

300

400

500

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

Condo Sales ‐ By Quarter REOs Shorts Arm's Length


0

100

200

300



Single Family 195 196 208 179 174 186 179 194 169 174 178 175 168

Condo 203 224 225 230 208 250 236 202 207 206 206 203 213

Days on Market

Sarasota Realtor Magazine - July 2010

Documents

Transcript of Sarasota Realtor Magazine - July 2010