sarasota realtor magazine - february 2011

Homer Time

Anthony Homer, 2011 CID President,seeks to leverage the powerof the commercial network

Page 6

FEBRUARY 2011

11OA K V ISTA S

Single-family homes from the low $200s

941-266-4766

13L A N DM A R K

E STAT E SSingle-family homes from the mid $300s

941-266-4766

12R ED H AW K

R E SERV ESingle-family homes from the mid $300s

941-312-6470

14PA L M ER OA K SSingle-family homes

from the upper $100s941-922-4969

America’s Builder IsEVERYWHERE!

www.DRHorton.com/Sarasota

6GR E Y H AW K

L A N DI NGSingle-family homes


7L EGE N DS BAYSingle-family homes from the mid $300s

941-567-4065

4OLD TA MPA

E STATE SSingle-family homes


5RY E W IL DER N E SS

E STAT E SSingle-family homes from the low $200s

941-896-8816

2COV ER ED BR IDGE


941-479-4937

3SUG A R MILL

L A K E SSingle-family homes from the low $100s

941-479-4937

1OA K HUR ST

Single-family Homes from the upper $100s

941-479-4971

9R EGEN T L A K ESingle-family homes from the mid $300s

941-266-4766

8WA LK ER’S COV E AT R I V ER PL ACE

Single-family homes from the mid $200s

941-266-4766

10PHIL L IPPI PI N E S


941-266-4766

CGC1513647 Home and community information, including pricing, included features, terms, availability and amenities are subject to change without notice or obligation. Pictures are for illustration purposes only and will vary from the homes as built. Please contact a sales representative for details. Locations are approximate and not to scale.

Move-In-Ready Homes Available Now!• 14 Communities in locations throughout Sarasota & Bradenton

A complete list of Move-In-Ready homes is available at HortonReadyNow.com

For more information, please call 866.475.3347.

1 234

56

78

910 11

12 1314

SARAd1.5.11.indd 1 1/5/2011 4:39:37 PM

excitingwhere

comes to live.

With ideal locations and year-round amenities and events, our communities are a haven for your clients looking for an exciting new chapter in their lives. Call today to register your clients, and schedule a tour of our new decorated models.

Now your clients can experience the lifestyle they’ve always wanted.

Ask about our 2011 REALTOR® incentive program!

Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CBC057850 ©2011 Centex Homes. All rights reserved. 1/5/11

Stonehaven SarasotaCondosfrom the $100s

Venetian Falls RiverwoodPort CharlotteCarriage Homes & Single-Family Homesfrom the $150s

VeniceAttached Villas &Single-Family Homesfrom the $170s941-927-5721941-408-8291 941-764-6660

11OA K V ISTA S

Single-family homes from the low $200s

941-266-4766

13L A N DM A R K


941-266-4766

12R ED H AW K

R E SERV ESingle-family homes from the mid $300s

941-312-6470

14PA L M ER OA K SSingle-family homes


America’s Builder IsEVERYWHERE!

www.DRHorton.com/Sarasota

6GR E Y H AW K

L A N DI NGSingle-family homes


7L EGEN DS BAYSingle-family homes from the mid $300s

941-567-4065

4OLD TA MPA

E STATE SSingle-family homes


5RY E W IL DER N E SS

E STAT E SSingle-family homes from the low $200s

941-896-8816

2COV ER ED BR IDGE


941-479-4937

3SUG A R MILL

L A K E SSingle-family homes from the low $100s

941-479-4937

1OA K HUR ST

Single-family Homes from the upper $100s

941-479-4971

9R EGEN T L A K ESingle-family homes from the mid $300s

941-266-4766

8WA LK ER’S COV E AT R I V ER PL ACE


941-266-4766

10PHIL L IPPI PI N E S


941-266-4766

CGC1513647 Home and community information, including pricing, included features, terms, availability and amenities are subject to change without notice or obligation. Pictures are for illustration purposes only and will vary from the homes as built. Please contact a sales representative for details. Locations are approximate and not to scale.

Move-In-Ready Homes Available Now!• 14 Communities in locations throughout Sarasota & Bradenton

A complete list of Move-In-Ready homes is available at HortonReadyNow.com

For more information, please call 866.475.3347.

1 234

56

78

910 11

12 1314

SARAd1.5.11.indd 1 1/5/2011 4:39:37 PM

excitingwhere

comes to live.

With ideal locations and year-round amenities and events, our communities are a haven for your clients looking for an exciting new chapter in their lives. Call today to register your clients, and schedule a tour of our new decorated models.

Now your clients can experience the lifestyle they’ve always wanted.


Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CBC057850 ©2011 Centex Homes. All rights reserved. 1/5/11

Stonehaven SarasotaCondosfrom the $100s

Venetian Falls RiverwoodPort CharlotteCarriage Homes & Single-Family Homesfrom the $150s

VeniceAttached Villas &Single-Family Homesfrom the $170s941-927-5721941-408-8291 941-764-6660

Sarasota Realtor® MagazineVolume 8, Issue 2

FEBRUARY 2011

Sarasota Association of Realtors®, Inc.

3590 South Tuttle Avenue Sarasota, Florida 34239

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

www.sarasotarealtors.com

2011 OfficersPresident

Michael Bruno Prudential Palms Realty

President-Elect Laura Benson

Michael Saunders & CompanySecretary

Dave Swenson EXIT Creative Realty

Treasurer Roger Piro

Town & Country RealtyImmediate Past President

Erick Shumway RE/MAX Alliance GroupChief Executive Officer

Kathy RobertsMission Statement

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

Editorial Staff

Director of CommunicationsRay Porter

Director of Membership and Administrative Services

Dan AndrewsDirector of Information Technology

Jesse SundayDirector of Professional Development

Catherine McCaskillGovernmental Affairs Director

Marc MansfieldProduction

Coastal 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.

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

olum

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6 Youthful Leadership Anthony Homer assumes the CID presidency as the year begins. What are his leadership goals, and how does he hope to accomplish them?

10 Top Priorities What are NAR’s major concerns and initiatives for 2011? Find out what the national organization’s chief priorities are for the current year.

12 Foreclosure Fallout What are the potential tax revenue implications of the current market reality of higher percentages of short sales and foreclosures?

15 Market Strong The December 2010 sales statistics continued the upward trend as the local real estate market ended the year on a positive note.

28 Working Together 2011 WCR President Cindi Jackson encourages networking and positive partnerships in the new year.

In every issue10- Governmental Affairs12- Property Appraiser15- Sales and Listing Statistics18- Commercial Investment Division20- Education Programs24- On the SAR Scene27- Broker Corner28- WCR News30- Membership News32- Calendar of Events/Education

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

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

ON THE COVER: What a difference six years makes! This photo of 2005 CID President Janet Robinson was taken near the groundbreaking site for Lakewood Ranch’s Main Street - the same area of this month’s cover with 2011 CID President Anthony Homer!

4 FEBRUARY 2011 Sarasota Realtor® Magazine www.sarasotarealtors.com

Danielle Hallman of The Oaks Club: SAR Affiliate of the Month for February 2011Danielle Hallman,

membership and marketing director for The Oaks Club, is the SAR Affiliate of the Month for February 2011.

Danielle is a valuable employee at Sarasota’s most prestigious club community.

Danielle wears many hats at The Oaks Club. She guides the club’s membership sales and retention program, as well as its marketing, advertising, communications and public relations initiatives.

An accomplished member relations professional with more than 15 years experience, Danielle is a polished speaker and special events coordinator who helps strengthen The Oaks Club’s special appeal to residents, visitors and real estate agents and brokers. She entered the hospitality sector in 1994 and is familiar with virtually all aspects of club communities. She earned a business and marketing degree from Pensacola Junior College and a bachelor’s degree from State College of Florida in Bradenton. She also has an (inactive) real estate license.

Danielle can be reached at 941-966-5415 or by email at [email protected]

Realtor® Quest promotes Sarasota to Canadian marketThe Sarasota Association of Realtors® has reserved a booth at

the big Realtor® Quest event in Toronto, Canada on May 4-5, and is now offering limited time slots to SAR members.

Only nine spots are available, so don’t delay – register today. The deadline for payment is either March 18 or whenever all spots are sold, whichever occurs first. Each participant can purchase only one slot prior to the payment deadline.

The dates and times are May 4, 8:30 a.m. to 6 p.m., and May 5, 8:30 a.m. to 4 p.m. The cost for each two-hour slot is only $200. Slots at the end of each day are $150, and are for 90

minutes. There is an additional $40 charge per person for show passes, which gives access to lunch and snacks

More Canadians purchase real estate in Florida, particularly on the west coast, than any other nationality. This is your chance to connect with 8,000 Realtors® at Realtor® Quest, Canada’s largest Realtor® trade show and conference. Maximize your marketing potential in the Canadian market, business to business, with Realtors® around the Toronto area.

Call Catherine McCaskill, 328-1167, for details, or see the item under Hot Topics at www.sarasotarealtors.com .

Danielle Hallman

It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington Post’s January 1 editorial, “Trim the Excessive Tax Subsidy for Real Estate.”

In fact, the MID actually benefits primarily middle- and lower-income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families.

The MID helps many families become home owners by reducing the carrying costs of owning a home. The ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home last year with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 5 percent, could save nearly $3,500 in federal taxes when they file next year. That’s real money they can use to pay down other debts, save for their children’s college education, or put away for retirement.

It’s no wonder, then, that most Americans support the MID. In fact, in a recent NAR survey by Harris Interactive of 3,000 home owners and renters, nearly three-fourths of home owners and two-thirds of renters said the MID was extremely or very important to them.

Unlike the very rich, much of whose wealth is tied to the stock market, the wealth of most middle-class American families is connected to their home. Millions of these Americans bought their homes with the understanding that mortgage interest is tax-deductible, and many of them have steadily paid down their mortgages to build equity in their home. Eliminating or reducing the MID would destroy part of this hard-earned equity for all home owners, independent of their tax filing status.

Furthermore, we also need to be mindful that home owners already pay 80 percent to 90 percent of U.S. federal income tax, and this share could rise to 95 percent if the MID is eliminated. Proposals that would remove certain tax benefits in return for lower tax rates just may hold for one or two terms of Congress before the tax rates are changed again. Americans are not naïve; they understand the nature of Washington politics.

For people who don’t have hundreds of thousands of dollars in savings to buy a home outright, tax benefits like the MID help them begin building their futures through home ownership. In a time when the middle class faces increased economic pressures, you can be sure that the National Association of Realtors® will remain actively engaged to ensure that hard-working, home-owning families continue to receive this important benefit. - NAR

Who benefits from Mortgage Interest Deduction?

nCo

ver S

tory

For more, see CID column, P. 18, and Brad Lindberg article, P. 19

Networking has become second-nature to Anthony Homer, 2011 president for the Commercial Investment Division (CID) of SAR. His life has been an international adventure that shaped his business perspective and eventually led him to sunny Sarasota, Florida.

“Growing up in Hong Kong was the most influential part of my childhood,” said Anthony, noting the biggest difference apart from the language and culture was the freedom he experienced at an early age “to explore the city and the larger than life adventures which grew out of those explorations. There were so many different opportunities and I took them all.”

By the time Anthony returned to the United States to attend college (Liberty University in Virginia), he had worked full time at an artificial intelligence research startup, led hiking expeditions, spent time traveling in Asia, and “sweat through summers as a teenage pack mule for a wilderness camp.” He recalled that the real world education he enjoyed in his teens “made it second nature (for me) to adapt to circumstance and people around me, which has proven very useful in this changing commercial real estate landscape.”

As the new CID president, Anthony is determined to bring his well-honed international networking background and instincts to the organization’s agenda for 2011.

“My goal is to be involved in bringing in businesses which create jobs, which in turn fosters a more dynamic and exciting area in which to live,” said Anthony, a commercial Realtor® with LWR Commercial Realty. “Looking forward, I want to become more involved in local economic development by attracting global companies.”

Anthony cites recent developments, such as the establishment of the HuB entrepreneurial business organization, and the new $14 million DEAL (Design and Economic Acceleration Lab) which would house key economic development staff and resources from both counties in one building as evidence the area is

moving in the right direction.In the bigger picture, Anthony wants the CID to

embrace networking with other local business and professional organizations in hopes of broadening the organization’s influence and reach. He believes his personal experience and background is well-suited to attaining those goals.

Anthony’s relatively short real estate career began in 2006, and yet he has experienced a meteoric rise in SAR through the CID. He is a current member of the SAR board of directors, and also on the Florida Realtors® board, having won the state organization’s

Newcomer of the Year Award in 2009. He served as the first chair for the Sarasota Young Realtors® group, and is also the vice president of Business Development for the Sarasota Sister Cities Association.

Anthony also has family connections in the industry, as his wife, Coquina, is the daughter of Joe Hembree, president and founder of Hembree and Associates. The firm has been a mainstay of local commercial real estate since 1985. The couple has two children – Cole, 5, and Adam, 3.

“I love learning about new businesses and understanding how they work, which has made commercial real estate a really interesting job,” explained Anthony. “I got my license in April of

2006, which was the high watermark for the commercial real estate boom in Sarasota. At the time, I was learning about cash flow and testing scenarios against deals being negotiated, so I could understand how the principles applied. I couldn’t make any sense out of them at the time and in hindsight, neither could the buyers! In some ways, the upheaval in the market has benefited me as a newcomer because clients are willing to take more risks in marketing and selling their properties.”

Anthony has been with LWR Commercial for a little over a year, and says he is looking forward to spending the rest of his career within the Schroeder Manatee Ranch organization.

“Living in California’s Silicon Valley in 2001, there was a palpable creative energy and hardworking risk-takers were rewarded,” Anthony recalled. “That is the Sarasota-Manatee I want my kids to grow up in. I don’t want my kids to have to move away because of limited

Building PartnershipsCID President Anthony Homer seeks to expand group’s influence


The Homer family is shown on Main Street in downtown Lakewood Ranch - from left, Coquina, Adam (3), Cole (5) and Anthony.

career choices.”He left the door open to exploring political involvement,

if that would help achieve those goals. A natural leader, Anthony has already taken on major responsibilities in SAR and the CID, and has also become involved in many local and state issues, like the successful fight against Amendment 4.

Anthony has also emceed several events for the association, and actively participated in the strategic planning process, along with other SAR board members. He hopes his input will help lead SAR and the CID to explore potential change that might seem revolutionary or cutting edge to some.

A self-confessed “tech geek”, Anthony also wants to push the envelope by promoting advanced technology in commercial real estate.

“Mobile web apps have changed the way I do business,” he noted. “I can take my kids to the beach and do business from my iPhone without missing a step. On a tour with some out-of-state clients, they told me what they needed was not to increase their facility sizes in Fort Myers and Sarasota, but to open a new location in between. In the back of the car on I-75, I was able to pull listings from Port Charlotte and drive

them by the property. We signed a lease 30 days later.”Anthony believes our area enjoys an unrivaled combination

of climate, culture, capital and diversity. With all of these advantages, the future looks bright for Sarasota and the surrounding region.

“From a technical standpoint, we have all the pieces to compete globally for design and innovation and the capital to fund those endeavors. We lack talent, the human capital, to sustain those sparks of creativity and carry them through a first and second round to create new and sustainable enterprises,” explained Anthony. “We need to re-brand Sarasota- Manatee as an exciting area where young entrepreneurs can live the gulf coast lifestyle of surfing, kite-boarding, boating - and not just golf, golf, golf. Now we need more entrepreneurs!”

Anthony’s high degree of community involvement gives him a unique perspective and insight into the local commercial real estate market, and will clearly enable him to assist SAR and the CID in fulfilling future goals and visions.

“We’re in the right place at the right time, and I couldn’t be any more optimistic than I am right now,” said Anthony.

www.sarasotarealtors.com Sarasota Realtor® Magazine FEBRUARY 2011 7

Participate in our Gold Medallion Treasure Hunt and start collecting $500 gold coins* redeemable when you sell a Medallion Home in any of our neighborhoods.

Here’s how it works:• Visit www.medallionhome.com to locate a sales center near you and pick up a treasure map with details about our neighborhoods.

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

• Sell a Medallion Home and receive $500* for each coin collected, in addition to your commission at closing. Must present coins at time of registration.

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

• Partner with your team to collect Medallions and split the bonus.

• Visit all seven Medallion neighborhoods by 1/31/11 and qualify for a drawing to win a weekend getaway for two to Longboat Key Club. Includes accommodations, dinner at Sands Point or Portofino on Friday and Saturday, breakfast in bed on Sunday, and a massage for two at the Island Spa House. See treasure map for details.

• Be the first to know about new neighborhoods, floor plans, events, and special opportunities to receive additional Medallions. Opt-In to receive text messages by sending a text to 368638. In the message area type “MedallionHome Realtor.” Send. When you receive a message, type in “1.” Send. Respond to next message by typing “yes.” Send. Show that text to the sales rep at any Medallion Home Neighborhood. Be one of the first 100 to opt-in and get an additional 2 $500 Gold Medallions.*

* Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Not valid with any other promotion.

www.medallionhome.com/sar • 2212 58th Ave East • Bradenton 941-359-9000

J o i n th e C lu bWCI Introduces the

6% Commission

CluB*

Who AlreAdy QuAlifies for 6% Commission? • Any current actively licensed Realtor® who resides in one of the following WCI Communities, Pelican Preserve, Venetian Golf & River Club or Tiburón.

• Any Realtor® who sold a new WCI Home from July 1 – Dec. 31, 2010.

hoW CAn you QuAlify? Sell one new WCI Home in 2011 at 4% Commission and automatically be eligible for 6% Commission on all subsequent new WCI Home sales until June 30, 2011.

WCICommunItIes.Com • 800-WCI-2290

AddItIonAl ProgrAm elements

• ACCess to CluB FACIlItIes – use of Club dining facilities and VIP rates for golf.**

• reCognItIon as a 6% Commission Club member in our monthly Realtor® communications.

• PrIorItY lIst stAtus – be the first to receive new product info and invitations to special events.

*Contact Sales Director for complete terms & conditions of the 6% Commission Club program. The commission on each residence shall be paid at closing to applicable broker for contracts on new WCI Homes that are fully executed between January 1 and June 30, 2011. Contact Sales Director at Community Sales Center for specific closing requirements. This expires June 30, 2011, and is subject to cancellation without notice. The 2011 6% Commission Club Program cannot be combined with any other WCI commission program. The commission shall be calculated and paid in accordance with WCI’s Co-Broker Commission Program Agreement. This program is subject to the registration procedures, terms and conditions set forth in WCI’s Co-Broker Commission Agreement. **Eligibility and access to dining, club facilities and VIP Golf Rates vary by community and are subject to individual club rules and regulations.Pricing and availability subject to change without notice. All references to clubs, membership opportunities and other amenities are subject to fees, dues and availability. Void where prohibited. ©2011 WCI Communities, Inc. All rights reserved. CGC 058796

C o m i n g s o o n

FoRt MyeRs

239-985-1600Homes from the mid $100s

NoRtH VeNICe

941-485-5063Homes from the low $200s

NaPles

239-593-9199Homes from the $700s

NaPles

239-598-2370Homes from the $200s

Participate in our Gold Medallion Treasure Hunt and start collecting $500 gold coins* redeemable when you sell a Medallion Home in any of our neighborhoods.

Here’s how it works:• Visit www.medallionhome.com to locate a sales center near you and pick up a treasure map with details about our neighborhoods.

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

• Sell a Medallion Home and receive $500* for each coin collected, in addition to your commission at closing. Must present coins at time of registration.

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

• Partner with your team to collect Medallions and split the bonus.

• Visit all seven Medallion neighborhoods by 1/31/11 and qualify for a drawing to win a weekend getaway for two to Longboat Key Club. Includes accommodations, dinner at Sands Point or Portofino on Friday and Saturday, breakfast in bed on Sunday, and a massage for two at the Island Spa House. See treasure map for details.

• Be the first to know about new neighborhoods, floor plans, events, and special opportunities to receive additional Medallions. Opt-In to receive text messages by sending a text to 368638. In the message area type “MedallionHome Realtor.” Send. When you receive a message, type in “1.” Send. Respond to next message by typing “yes.” Send. Show that text to the sales rep at any Medallion Home Neighborhood. Be one of the first 100 to opt-in and get an additional 2 $500 Gold Medallions.*

* Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Not valid with any other promotion.

www.medallionhome.com/sar • 2212 58th Ave East • Bradenton 941-359-9000

What are NAR Public Policy priorities for 2011?

tG

over

nmen

tal A

ffai

rsBy Marc MansfieldGovernmental Affairs Director

The National Association of Realtors® is the largest professional trade association in the United States and represents approximately 1.1 million members. The NAR Governmental Affairs division is responsible for advocating on behalf of the organization and interacts with Congress on a frequent basis.

During the 112th Congress, NAR will be working on a number of issues that directly or indirectly impact Realtors® and the real estate industry. Below is a summary of those issues targeted by NAR for 2011:Taxation

Mortgage Interest Deduction: NAR opposes any changes that would limit or undermine current law.

Capital Gains Exemption: NAR opposes any changes to the capital gains exemption on the sale of a home.

Estate Tax Reform: NAR supports repeal of the estate tax but opposes the portion of the repeal that requires the use of the so called “carryover basis.” If the estate tax were to be revised, NAR supports the lowest possible rate (but in no event a rate higher than the maximum individual tax rates) and a substantial exclusion (currently about $3 million).

Depreciation-Tenant Improvements: NAR supports efforts to establish a permanent rule that more accurately reflects the depreciable lives of buildings and to conform amortization periods for tenant improvements more closely to the term of the lease.Real Estate Finance

Government Sponsored Enterprises: NAR is recommending that Fannie Mae and Freddie Mac be converted into government chartered, non-shareholder owned authorities that are subject to tighter regulations.

Mortgage Loan Limits: NAR supports making the current higher loan limits and formula permanent.

Federal Housing Administration Programs: NAR is a strong supporter of the single and multi-family programs administered by the FHA.

NAR Credit Policy: NAR is calling on the credit and lending industries and federal regulators to reassess the entire mortgage lending policy structure and look for ways to increase the availability of credit to qualified borrowers who are good credit risks.

Short Sales: NAR continues to push the lending industry to expedite short sales.

Real Estate Settlement Procedures Act (RESPA): NAR supports HUD’s new RESPA rule in general. NAR supports transparency in the home buying process and clear disclosures to customers of loan terms and the fees charged by settlement providers. NAR specifically

rejects HUD’s contention that the marketing of home warranties is a mere referral.Energy and the Environment

National Flood Insurance Program: NAR recommends renewing and strengthening the long term viability of the federal flood insurance program including comprehensive coverage for non-primary residences (e.g., rental properties and second homes) and reforms to provide “full risk” premiums for most repetitive loss structures in many states. NAR also supports funding to update and improve the accuracy of flood maps.

Natural Disaster Policy: NAR supports a federal program that promotes the availability and affordability of property insurance nationwide.

Energy Efficiency and Climate Change: NAR supports improving energy efficiency through voluntary incentives in lieu of individual building mandates. Commercially reasonable approaches that advance market and smart-growth principles of protecting private property rights and maintaining real estate affordability and availability. Additionally, NAR supports educating property owners and consumers about the benefits of energy efficiency. NAR opposes requirements which impose undue economic burdens on property owners or managers; triggering such provisions at a time when property is sold; and expanded application of existing laws/regulations that are not suited to address climate change.

The Isles on Palmer Ranch S A R A S O TA | 941-926-3933

Carriage Homes, Attached Villas & Single Family Homes from the high $100s

Attached Villas & Single FamilyHomes from the high $100s

IslandWalk at the West Villages N O R T H P O R T | 941-408-8179

High standards. High expectations.


TOGETHER, UNDER ONE ROOF.

The next stage in life can feel like a new lease on life. Why not make a fresh start in a new home? With well-designed living spaces, attractive details, welcoming curb appeal and solid block wall construction, DiVosta homes have everything you want – all within a resort-style master-planned community. Start your search today. Visit DiVosta.com.

*Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CGC1505166 ©2011 Pulte Home Corporation. All rights reserved. 1/5/11

Continued on P. 31, See PRIORITIES


The Isles on Palmer Ranch S A R A S O TA | 941-926-3933

Carriage Homes, Attached Villas & Single Family Homes from the high $100s

Attached Villas & Single FamilyHomes from the high $100s

IslandWalk at the West Villages N O R T H P O R T | 941-408-8179

High standards. High expectations.


TOGETHER, UNDER ONE ROOF.

The next stage in life can feel like a new lease on life. Why not make a fresh start in a new home? With well-designed living spaces, attractive details, welcoming curb appeal and solid block wall construction, DiVosta homes have everything you want – all within a resort-style master-planned community. Start your search today. Visit DiVosta.com.

*Prices listed are base prices, do not include lot premiums or options, and are subject to change without notice. Community Association fees required. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood, or any completed improvements being offered. Please see a sales associate for details. CGC1505166 ©2011 Pulte Home Corporation. All rights reserved. 1/5/11

wPr

oper

ty A

ppra

iser Foreclosure Fall Out

What are the potential tax revenue impacts?

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

By Bill Furst, GRI, CRS, CRBSarasota CountyProperty Appraiser

We’re all aware of the flood of foreclosures that has buried the national, statewide, and Sarasota County real estate market.

The effects of this torrent of distressed properties and depressed values show no signs of running out of steam.

There has been a lot of discussion in the Florida press lately about the tax revenue impact of foreclosures. Several publications have jumped on the fact that foreclosing lenders reap the benefit of the defaulted owner’s Homestead Exemption and Save Our Homes Cap in the year in which they take possession. The situation is being made out to be an aberration for the exclusive benefit of the lenders.

Such is not the case. If the defaulting owner occupied the property as their permanent residence as of January 1, the exemption remains in place for the entire year. A lender taking possession by Certificate of Title is treated no differently than a typical buyer who gets the benefit of the previous owner’s Homestead Exemption and Save Our Homes Cap for the first year. Florida statutes do not discriminate by type of transfer of ownership when it comes to the retention of homestead or other benefits for the balance of the transfer year.

Of course, if this office determines that the defaulting owner did not in good faith reside on the property on January 1, we remove the exemption for that year. No benefit accrues to a foreclosing lender or any other transferee.

In 2010, Certificates of Title transferred 3,160 Sarasota County properties to lenders. Of those 3,160 properties only 316 retained

the Homestead Exemption for 2010. Our data show that the total value of exempted taxes (due to the Homestead and other exemptions as well as any Save Our Homes Caps), amounted to just over $159,000. Hardly a windfall for the foreclosing lenders.

We’ve received many requests for easily accessible foreclosure location and ownership information from Realtors® and the community at large. To help you to identify and track foreclosed properties in Sarasota County our Geographic Information Systems (GIS) department has created an interactive map showing foreclosed properties transferred by Certificates of Title, (the most common form of property transfer to a foreclosing lender), by year since 2007. To access this information visit our website, www.SC-PA.com, and click on the Property Foreclosure Map link on the left. Then click on the Interactive Foreclosure Map link to view the map and begin your data search. The map tools are the familiar zoom in/zoom out, pan, and float over.

You can also view all properties on which a Certificate of Title has been recorded by going to the Sales Search link on the top menu bar of our home page, entering CT in the Deed Type field, and clicking Submit. To view the most recent CT entries, sort by Sales Date in descending order. You may also go to Download Data on the top menu bar and download the Sales Database which includes deed information.

We will continue to update our website and databases to reflect the most current information about factors affecting market and taxable values in Sarasota County.

If you have any suggestions or recommendations for additional services please let us know. Call 941-861-8200!

FORECLOSURE FALL OUT We’re all aware of the flood of foreclosures that has buried the national, statewide, and Sarasota County real estate market. The affects of this torrent of distressed properties and depressed values show no signs of running out of steam. There has been a lot of discussion in the Florida press lately about the tax revenue impact of foreclosures. Several publications have jumped on the fact that foreclosing lenders reap the benefit of the defaulted owner’s Homestead Exemption and Save Our Homes Cap in the year in which they take possession. The situation is being made out to be an aberration for the exclusive benefit of the lenders. Such is not the case. If the defaulting owner occupied the property as their permanent residence as of January 1 the exemption remains in place for the entire year. A lender taking possession by Certificate of Title is treated no differently than a typical buyer who gets to benefit of the previous owner’s Homestead Exemption and Save Our Homes Cap for the first year. Florida statutes do not discriminate by type of transfer of ownership when it comes to the retention of homestead or other benefits for the balance of the transfer year. Of course, if this office determines that the defaulting owner did not in good faith reside on the property on January 1, we remove the exemption for that year. No benefit accrues to a foreclosing lender or any other transferee. In 2010, Certificates of Title transferred 3,160 Sarasota County properties to lenders. Of those 3,160 properties only 316 retained the Homestead Exemption for 2010. Our data show that the total value of exempted taxes (due to the Homestead and other exemptions as well as any Save Our Homes Caps), amounted to just over $159,000. Hardly a windfall for the foreclosing lenders.

We’ve received many requests for easily accessible foreclosure location and ownership information from Realtors® and the community at large. To help you to identify and track foreclosed properties in Sarasota County our Geographic Information Systems (GIS) department has created an interactive map showing foreclosed properties transferred by Certificates of Title, (the most common form of property transfer to a foreclosing lender), by year since 2007. To access this information visit our website, www.SC-PA.com, and click on the Property Foreclosure Map link on the left. Then click on the Interactive Foreclosure Map link to view the map and begin your data search. The map tools are the familiar zoom in/zoom out, pan, and float over. You can also view all properties on which a Certificate of Title has been recorded by going to the Sales Search link on the top menu bar of our home page, entering CT in the Deed Type field, and clicking Submit. To view the most recent CT entries, sort by Sales Date in descending order. You may also go to Download Data on the top menu bar and download the Sales Database which includes deed information. We will continue to update our website and databases to reflect the most current information about factors affecting market and taxable values in Sarasota County. If you have any suggestions or recommendations for additional services please let us know.

MARCH 1 EXEMPTION FILING DEADLINE!!! Don’t let your customers and clients miss out on the 2011 Homestead or other Exemptions! Homestead: Applicants must: Establish themselves as Florida residents by January 1, 2011. Have legal or beneficial title to and occupy the property as their permanent residence as of January 1, 2011. Widow/er: Applicants must have lost their spouse prior to January 1, 2011. Veteran Exemptions: Applicants must have a rating letter from the Veteran’s Administration granting disability status prior to January 1, 2011. Civilian Disability: Applicants must have been certified as totally and permanently disabled, by a licensed Florida physician, as of January 1, 2011. Charitable Exemption: The organization must own the property and use it for an exempt purpose as of January 1, 2011. Agricultural and Conservation Classifications also have a March 1, application deadline. Contact us for more information.

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


RiddellLaw Group

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

Short SalesForeclosuresBankruptcy

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

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

Cynthia A. Riddell, Esq.

Call For AFREE CONSULTATION

941-366-1300

Who is buying and who is selling homes?The 2010 Profile of Home Buyers and Sellers in Florida looks at

the traits of the state’s current real estate clients, and it identifies the characteristics of today’s homebuyers. It describes the motivations of recent homebuyers and sellers in Florida so real estate professionals can track the changing demands of consumers.

Characteristics of homebuyers• Forty-four percent of recent homebuyers were first-time owners

compared to 50 percent nationwide.• The typical first-time buyer was 31 years old, while the typical

repeat buyer was 54 years old; nationwide, first-time buyers were typically 30 and repeat buyers were 50 years old.

• The 2009 median household income of Florida buyers was $63,300 – slightly lower than the median income of buyers nationwide, $72,200.

• The median income was $53,500 among first-time buyers and $84,300 among repeat buyers.

• Nineteen percent of recent homebuyers were single females, and 11 percent were single males. Nationwide, 20 percent of recent buyers were single females, and 12 percent were single males.

• For 30 percent of recent homebuyers, the primary reason for the home purchase was a desire to own a home.Characteristics of homes purchased

• New home purchases were at the lowest level in nine years nationwide – 15 percent of all recent home purchases. But in Florida, 18 percent of homes were new.

• The typical home purchased was 1,800 square feet, built in 1998, and it had three bedrooms and two full bathrooms.

• Seventy-eight percent of homebuyers purchased a detached single-family home.

• The median price of a home was $161,000 compared to $179,000 nationwide.

• When considering the purchase of a home, 73 percent of buyers considered commuting costs very or somewhat important.The home search process

• For four in ten homebuyers, the first step in the home-buying process was looking online for properties.

• Eighty-nine percent of buyers used the Internet to search for homes.

• Real estate agents were viewed as a useful information source by 98 percent of the buyers who used an agent while searching for a home.

• The typical buyer searched for 12 weeks and viewed 15 homes. This compares to 12 weeks and 12 homes viewed by the typical buyer nationwide.Home buying and real estate professionals

• Seventy-nine percent of buyers purchased their home through a real estate agent or broker.

Continued on P. 19, See WHO IS

FORECLOSURE FALL OUT We’re all aware of the flood of foreclosures that has buried the national, statewide, and Sarasota County real estate market. The affects of this torrent of distressed properties and depressed values show no signs of running out of steam. There has been a lot of discussion in the Florida press lately about the tax revenue impact of foreclosures. Several publications have jumped on the fact that foreclosing lenders reap the benefit of the defaulted owner’s Homestead Exemption and Save Our Homes Cap in the year in which they take possession. The situation is being made out to be an aberration for the exclusive benefit of the lenders. Such is not the case. If the defaulting owner occupied the property as their permanent residence as of January 1 the exemption remains in place for the entire year. A lender taking possession by Certificate of Title is treated no differently than a typical buyer who gets to benefit of the previous owner’s Homestead Exemption and Save Our Homes Cap for the first year. Florida statutes do not discriminate by type of transfer of ownership when it comes to the retention of homestead or other benefits for the balance of the transfer year. Of course, if this office determines that the defaulting owner did not in good faith reside on the property on January 1, we remove the exemption for that year. No benefit accrues to a foreclosing lender or any other transferee. In 2010, Certificates of Title transferred 3,160 Sarasota County properties to lenders. Of those 3,160 properties only 316 retained the Homestead Exemption for 2010. Our data show that the total value of exempted taxes (due to the Homestead and other exemptions as well as any Save Our Homes Caps), amounted to just over $159,000. Hardly a windfall for the foreclosing lenders.

We’ve received many requests for easily accessible foreclosure location and ownership information from Realtors® and the community at large. To help you to identify and track foreclosed properties in Sarasota County our Geographic Information Systems (GIS) department has created an interactive map showing foreclosed properties transferred by Certificates of Title, (the most common form of property transfer to a foreclosing lender), by year since 2007. To access this information visit our website, www.SC-PA.com, and click on the Property Foreclosure Map link on the left. Then click on the Interactive Foreclosure Map link to view the map and begin your data search. The map tools are the familiar zoom in/zoom out, pan, and float over. You can also view all properties on which a Certificate of Title has been recorded by going to the Sales Search link on the top menu bar of our home page, entering CT in the Deed Type field, and clicking Submit. To view the most recent CT entries, sort by Sales Date in descending order. You may also go to Download Data on the top menu bar and download the Sales Database which includes deed information. We will continue to update our website and databases to reflect the most current information about factors affecting market and taxable values in Sarasota County. If you have any suggestions or recommendations for additional services please let us know.

MARCH 1 EXEMPTION FILING DEADLINE!!! Don’t let your customers and clients miss out on the 2011 Homestead or other Exemptions! Homestead: Applicants must: Establish themselves as Florida residents by January 1, 2011. Have legal or beneficial title to and occupy the property as their permanent residence as of January 1, 2011. Widow/er: Applicants must have lost their spouse prior to January 1, 2011. Veteran Exemptions: Applicants must have a rating letter from the Veteran’s Administration granting disability status prior to January 1, 2011. Civilian Disability: Applicants must have been certified as totally and permanently disabled, by a licensed Florida physician, as of January 1, 2011. Charitable Exemption: The organization must own the property and use it for an exempt purpose as of January 1, 2011. Agricultural and Conservation Classifications also have a March 1, application deadline. Contact us for more information.

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

IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY 2011 Dues Invoices Now Available and Due by Feb. 15th, 2011

Changes Affecting 2011 Dues Only Realizing that many of our members are still struggling in this economy, SAR is implementing billing changes on a one time only basis which we hope will positively impact our members. We will be billing all charges on one invoice; however, the changes affecting late fees and past due dates will remain the same as last year:

1. Members will be given an additional 30 days to pay. Service will remain intact until 5 pm on February 15 instead of January 15.

2. A late fee will not be assessed on payments received by February 15.

Reinstatement or Application fees will be assessed for payments after 5 p.m. on February 15.

Due Dates, Termination of Services, and Refund Policy Due: December 15, 2010; Past Due: February 15, 2011, 5:01 p.m. Members with open balances a/o 5:01 p.m. on February 15, 2011 will be terminated and lose all Realtor®

services, including Supra. Reinstatement before 5 p.m. on February 28, 2011 will require payment in full of all amounts due at date of

termination, as well as a $75 reinstatement fee. Reinstatement after February 28, 2011 will require licensee to apply as a new member and pay the $150

application fee plus amounts owed at time of termination plus the FAR interest assessment. For a member whose license is placed inactive prior to Jan. 1st and who has paid their invoice, the inactive

member will receive a full refund of the payments made. For a member whose license is placed inactive on or after Jan. 1st and who has paid their invoice, all

payments received are non‐refundable.

Payment Methods: ELECTRONIC PAYMENTS ONLY!!! Two payment options:

1. Deduct directly from your checking account via: A. Debit card (MC,V) – the easiest way to have the payment deducted from your checking account. B. Electronic check – use same information as on your check.

2. Credit card (MasterCard, Visa, or American Express). Instructions for all payments

go to www.sarasotarealtors.com click on MY SAR ACCOUNT at top of page under My Services, click on “Pay/View Bill Online” online charges will appear on your bank and credit card statements as “Realtor

Association/MLS” to print a copy of invoice, click on the invoice number

OR Come to the SAR offices and use our computer in the library which is programmed to open directly into the log‐in screen and has easy instructions located at the workstation for your use.

Once payments are made online, they are updated to your account within 72 hours. We encourage you to go online to check the status of your account.

What will be included on this dues billing? Annual dues: Local, State, National, CID (if applicable), and voluntary RPAC.


tSales surge in December 2010

and prices remain stable in SarasotaThe Sarasota real estate market

saw a big surge in December sales, from 534 in November to 681 last month for a 27.8 percent increase. In addition, the median sales price for both single family homes and condos was up in December 2010, indicating a recovering local real estate market.

The property sales breakdown in December 2010 was 500 single family home sales and 181 condos.

The statistics for December 2010 were even better than December 2009. The 681 total sales reported last month topped the 648 sales in December 2009. The median sale price for single family homes stood at $165,000, a small drop from last year’s figure of $170,000, but higher than the November 2010 figure of $160,100. For condos, the median price rose slightly to $160,000 from the previous month’s $159,000, down from last December’s median of $199,000. But condo prices have sunk below the $150,000 level several times in 2010, so the current figure indicates a sign of improvement.

Pending sales remained strong in December 2010 at 789, compared to 764 in November 2010, and higher than the 739 reported last December, when the market was still strengthened by the homebuyer tax credit initiative. This statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity.

“2010 ended with a resurgent local real estate market, and the higher number of pending sales tells me we could see continued strength in early 2011,” said SAR President Michael Bruno. “For the second half of 2010, there was a fairly steady trend in sales and prices, another sign of stability and recovery. Word of mouth indicates we are seeing more showings and more closings this season than we have in quite a while. And this year, we don’t have the homebuyer tax credit to point to as

a reason for the surge. Sarasota is just a great place to purchase a property.”

Inventory dipped in December 2010 to 6,047 from 6,207 – the lowest since August 2010 when 6,039 properties were on the market. The higher sales volume and lower inventory levels meant a major drop in

the months of inventory to 7.8 months for single family homes (from 10.9 months in November 2010), and 11.7 months for condos (from 13.3 months in November 2010). The market is considered to be in equilibrium between a buyers and sellers market once the figure reaches the 6 month level

There was also more good news on the distressed property sales front, as short sales

and foreclosure sales once again fell to 44 percent of overall sales, from 46 percent last month. For the entire year 2010, distressed sales made up 36 percent of overall sales.

“The fact that we’re trending downward for distressed property sales is encouraging,” noted Bruno. “We are all hoping 2011 is a turning point and the worst is behind us. The improving national economic picture and recent drop in the national unemployment rate are signs that the economy is heading in the right direction.”

Overall, 2010 sales were up 12.4 percent compared to 2009 – 7,603 to 6,739 total sales. The median sale price for both single family homes and condos for 2010 stood at $163,000. For 2009, the median sale price for single family was also $163,000, and for condos was $190,000.

Sales in the Sarasota market have now risen for two consecutive years since a low point of 5,820 sales in 2008. The level of sales is now at its highest point since 2005.

“2010 ended with a resurgent local real estate market, and the higher number of pending sales tells me we could see continued strength in early 2011.” - SAR

President Michael Bruno


Sarasota MLSSM Statistics - December 2010 Sarasota MLSSM Statistics - December 2010

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Jan. 10th, 2011,including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse.

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 95.3 94.7 95.2 94.6 95.2 94.8 94.1

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 3,920 500 12.8 178 $165,000 $163,000 7.8 567 14.5 715 156

This Month Last Year

3,810 469 12.3 194 $170,000 $163,000 8.1 521 13.7 667 211

Last Month 4,012 369 9.2 182 $160,100 $163,000 10.9 547 13.6 755 186

YTD ‐ 5,466 ‐ 175 $163,000 ‐ ‐ 7,421 ‐ 9,575 ‐

Source: Sarasota Association of Realtors®

$0

$50,000

$100,000

$150,000

$200,000

$250,000

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

Single Family

CondoMedian Sale Price


0

100

200

300

400

500

600

700

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

Unit Sales Single FamilyCondo


Sarasota MLSSM Statistics - December 2010 Sarasota MLSSM Statistics - December 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 2,127 181 8.5 211 $160,000 $163,000 11.7 222 10.4 302 139

This Month Last Year

2,210 179 8.1 202 $199,000 $190,000 12.3 218 9.9 233 232

Last Month 2,195 165 7.5 230 $159,000 $165,000 13.3 217 9.9 297 169

YTD ‐ 2,137 ‐ 207 $163,000 ‐ ‐ 2,821 ‐ 3,670 ‐

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 93.7 94.2 93.5 93.2 94.3 94.5 92.9

Sarasota Association of Realtors® MLS

0

100

200

300

400

500

600

700

800

900


Pending SalesSingle FamilyCondo


0

1,000

2,000

3,000

4,000

5,000


InventorySingle FamilyCondo


CID

(Com

mer

cial

Inve

stm

ent D

ivis

ion) Membership enjoys its privileges

Officers:President: Anthony Homer, LWR CommercialPresident-Elect: Brad Lindberg, Hembree & AssociatesVice-President: Linda Emery, Michael Saunders & Co.Secretary: Diane Lee, Wagner RealtyTreasurer: Tim Mapp, Mapp RealtyPast President: Lee DeLieto, Jr., Michael Saunders & Co.

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

2011 CID Officers & Directors

By Anthony HomerCID President

The Commercial Investment Division (CID) is looking forward to building on the political successes enjoyed last year by strengthening our network with fellow professional organizations in the Sarasota-Manatee County area. Join the CID to network with peers in the Gulf Coast Builders Exchange (GCBX), Coalition of Business Associations (COBA), Lakewood Ranch Business Alliance, the Economic Development Council and the Greater Sarasota Chamber of Commerce.

In the commercial real estate markets in December 2010, the 10-Year treasury checked in at the 3.5 percent mark, reversing the year-long decline. The standard for commercial real estate is giving some investors optimism, especially at the institution-level investments.

The economic indicators all seem to point to America getting back to business. U.S. manufacturing activity expanded in November for the 16th consecutive month according to the Institute for Supply Management

reports. Retailers enjoyed the best Christmas shopping season since 2007, with consumer spending increasing by 2.2 percent.

Locally, the retail market has seen slight improvements, while office vacancy has held its ground. Multi-family continues to be a strong performer, with distressed assets being snapped up around the $35,000 per unit mark. Office landlords will continue to compete for tenants, which will keep pressure on rental rates.

Employment numbers remain daunting, but there are signs that show improvement. Employment has grown by an average of 86,000 jobs per month since December of 2009, still anemic, but showing continued momentum.

There are still great values to be had in the market, and I believe multi-family presents a great opportunity for those investors looking for projects under 50 units. If you have noticed trends in other local markets or segments, or have questions, email me at [email protected].


The Making of a PresidentBy Brad LindbergCID President-Elect

Leadership is a quality that can be learned, but for most of the great leaders, it’s a trait that is inherited from birth. There are people who will be at the top of their sport, in their profession, or in their community. They are the people who look at challenges with a smile and attack it with a vengeance.

Leaders come in every shape and form. We have had in history some tall leaders, short leaders, athletic leaders and leaders who have led the way to the buffet line. The common denominator of all leaders is their ability to get the job done.

Getting the job at hand done sounds easy, but unless you have shock collars around the neck of those you need to march into battle with you, you better have confidence in the team you build and know they will be behind you when marching into combat.

I have had the privilege of watching the “Making of a President”. Anthony Homer and I have worked together since my entering the real estate business five years ago. I have had the privilege

of studying with him the nuances of commercial real estate and seeing how he has transformed an old stodgy gentlemen’s society into a new wave of technology-fueled “Young Professionals” eager to use the tools of the 21st century, incorporating the old world wisdom of good selling techniques to get the jump on the competition.

It is evident with his recent “Master of Ceremonies” responsibilities at the SAR Installation luncheon that this young man is destined for greatness. His charming and humorous personality is always engaging and affable. His command of the audience comes to him as natural as his love of family and friends.

As former business owner and Senior Executive of an International Telecommunications Distribution Company, I came into contact with very talented professionals. I always was looking to find young talented individuals who were new to the business. My first choice was an individual who was not afraid to speak up and challenge the system. Anthony Homer embodies that leadership quality.

I look forward to working with Anthony in 2011, as he will teach all of us to leave our comfort zones and challenge us to march into battle with him. 2011 is the year the Commercial Investment Division will be filled with significant advancements in technology and education.

• Seven percent of buyers purchased a home in foreclosure – slightly higher than the share of buyers nationally.

• Forty-four percent of buyers found their agent through a referral from a friend or family member.

• Seventy-two percent of buyers would definitely use their real estate again or recommend the same agent to others.Financing the home purchase

• Eighty percent of homebuyers financed their home purchase compared to a much higher percentage, 91 percent, of buyers nationwide.

• The typical buyer financed 93 percent of their home purchase.

• Forty-six percent of buyers said they made some sacrifices, such as reducing spending on luxury items, entertainment or clothing.

• Twenty-eight percent of buyers reported their mortgage application and approval process was somewhat more difficult than expected, and 16 percent reported it was much more

difficult than expected.Home sellers and their selling experience

• A real estate agent assisted 86 percent of home sellers. Nationwide, 88 percent of sellers used a real estate agent when selling their home.

• Recent sellers typically sold their homes for 94 percent of the listing price, and 63 percent reported they reduced the asking price at least once. Among all sellers nationally, sellers typically sold their homes for 96 percent of the listing price, and 57 percent reduced the asking price at least once.

• Thirty-nine percent of sellers offered incentives to attract buyers, most often assistance with home warranty policies and closing costs.Home selling and real estate professionals

• Thirty-nine percent of sellers who used a real estate agent found their agents through a referral by friends or family, and 23 percent used the agent they worked with previously to buy or sell a home.

Download the complete 2010 Report of Home Buyers and Sellers in Florida on the Research page at floridarealtors.org. - Florida Realtors®

WHO ISFrom Page 13

Anthony Homer


Educ

atio

n Pr

ogra

ms

What are the tax implications of distressed sales?Title: Tax Implications of Short Sales & ForeclosuresDate: March 2, 2011, 9 a.m. to 1 p.m.Instructor: Ira H. Zlatkin, CPA, MST, ITI & GRI Tax InstructorCost: SAR Members, $20; Others, $304 Hours CE (DBPR Course # 0012331)

In these turbulent times, homeowners and investors alike are increasingly faced with short sales, foreclosures, and even abandonments. In these cases, property owners are surprisingly faced with the potential of cancellation of indebtedness income and even a gain or loss on the property’s disposition.

Recent economic stimulus legislation allows a limited

exclusion of income from the forgiveness of debt on a personal residence. Learn how the amount of taxable income reported by the bank due to debt forgiveness on a personal residence could be totally eliminated. Also, learn how sellers of investment property and real estate used in a trade or business may also avoid taxation of debt forgiveness income. Learn how to protect, for future use, the most valuable tax benefits which may have been accumulated by the seller, such as unused tax credits and suspended losses, from being taken away by Uncle Sam to offset the allowed reduction of debt forgiveness income.

Register at www.sarasotarealtors.com.

Learn QuickBooks II for Real Estate ProsTitle: QuickBooks II for Real Estate ProfessionalsDate: March 9, 9 a.m. to 1 p.m.Location: SAR Main AuditoriumInstructor: Abby BarbozaCost: $20 (SAR Members); $40 (others)

This course is Part 2 in a series designed specifically for real estate brokers and agents. As business owners, you need to be able to take control of your finances.

Learning QuickBooks allows you to be in control of gathering and entering of your financial information. It allows you to use basic accounting principles to your advantage.

Register today to become one of the smart real estate licensees who has total knowledge and understanding of basic elements of financial statements. Receive a FREE 30 days trial in addition to discounts on QuickBooks software when you attend the class.

Module II covers the following:• Customizing QuickBooks• Excel & Word for QuickBooks• Setting up Multiple Users• End of year closing.

• Creating Statements for Property Management clients

• Payroll• Preparing 1099s & W-2s• Depreciation • Cash vs. Accrual Accounting• Accounts Payable• Accounts Receivable• Sending all information to your tax preparer.

The 2011 Lunch ‘n Learn Legal Series is presented by the Realtor® Attorney Joint Committee (a joint committee of the Sarasota Association of Realtors® and the Sarasota County Bar Association). Bring a brown bag lunch and munch while you learn.

Mark your calendars now and plan to attend this series of seminars presented as a member benefit at no additional cost. Members, please register online at www.sarasotarealtors.com. Non-members will be charged $10, but will need to call Catherine McCaskill at 941-328-1167 for registration information.

The dates are listed below—all the seminars are from noon to 1:30 p.m. More details about the speakers will be made available as the seminar date nears.Wednesday, Feb. 16 - Short Sale UpdateWednesday, March 16 - How to Hold Real EstateWednesday, April 20 - Making Next Year’s Taxes EasierWednesday, May 18 - How to Reduce the Chances of Getting Sued

A social is also being planned for March 24—location TBA.

RAJC presents 2011 Lunch ’n Learn Legal Series


Supercharge your career with NAR Designations14 Hours CE - Feb. 8-9

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 Core Law only which consists of the first three hours of the 14 hours. Instructors: IFREC.GREEN - April 5-6: Cost - SAR Members, $99; Others, $149

NAR’s Green Designation provides advanced training in green building and sustainable business practices so that you can seek out, understand, and market properties with green features. Stand out with the only green designation for real estate agents and property managers recognized by the National Association of Realtors®. Instructor: Jean Dorazio, Vice President, North American Title CompanyGRI Course 2 - May 2-4, 10-11, Exam May 12: Cost - Realtors®, $265

The GRI designation - Graduate, Realtor® Institute - is the nation’s top 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. Course carries 30 hours of Broker’s Post-License credit and 11 hours CE.

SFR - Short Sale & Foreclosure Certification: June 1: Cost - SAR Members, $99; Others, $119

For many real estate professionals, short sales and foreclosures are the new “traditional” real estate transaction. Knowing how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities are not merely good skills to have in today’s market — they are critical. And while short sales and foreclosures are not for the faint of heart, agents with the proper tools and training can use these specialty areas to build their business for the long term. Instructor: Jim DagueGRI 3 - July 25-27, Aug. 2-3: Cost - Realtors®, $265

An NAR survey in 2008 shows that the gross income for GRI designees was $69,800; gross income for Realtors® without designations or certifications was $37,300. This course carries 30 hours of Broker’s Post-License credit and 11 hours CE.

14 Hours CE - Aug. 9-10: Cost - SAR Members, $79; Others, $99This 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 Core Law only which consists of the first three hours of the 14 hours. Instructor: IFREC.SRES (Seniors Real Estate Specialist) - Oct. 11-12:Cost - TBD

Adults aged 50+ represent more than 20 percent of the U.S. population. For most senior adults, the homes that they live in are their largest asset and account for most of their net worth. Completion of the Seniors Real Estate Specialist (SRES®) Designation Course is an essential step for Realtors® in understanding the distinct real estate goals, concerns, and needs of seniors today. This course looks at key differences in housing options, from age-restricted communities to age-in-place design to assisted living; applications of the Housing for Older Persons Act (HOPA); the ins and outs of reverse mortgages; the use of pensions, 401k accounts, and IRAs in real estate transactions; and developing a team of senior specialists, including estate planners, reverse mortgage lenders, clutter and staging specialists, and more. Instructor: Jim Dague


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]

International Council hosts seminars in 2011The following seminars are being developed by the

International Council Steering Committee of the Sarasota Association of Realtors®. They are being presented as a member benefit at no additional cost.

Members, please register online at www.sarasotarealtors.com. Non-members will be charged $10, but will need to call Catherine at 941-328-1167 for registration information.Wednesday, Feb. 16, 9-11 a.m. - Networking Opportunities for Global Business

Steve Albee, President, Westcoast Florida Global Marketing Council; Carla Rayman, President, Sister Cities; Jean Charles Faust, President, French American Chamber of Commerce; Grant Petersen, President, British-American Business Council. Learn what an impact the multiple international cultures have on our market!Wednesday, March 16, 9-11 a.m. - International 101

Learn how to establish international relationships, generate referrals and international business; learn where to find the free resources and tools to help you get connected internationally; learn about Immobel and all its new features to market your listings in 13 different languages as well as through Facebook; learn from a panel of international practitioners how they reach this lucrative market. Register early, as this seminar was sold out last year. Go

to www.sarasotarealtors.com.

Graduate, Realtor® Institutecourses continue in 2011GRI Course 2 – “Essential Real Estate Techniques”May 2-4 & 10-11, Exam May 12, 10 a.m. to 1 p.m.Approved for 30 hours of Broker Post Licensing or 11-hours specialty CEOn or before April 18:SAR, FAR Members & Realtors®: $265After April 18:SAR, FAR Members & Realtors®: $290

According to the National Association of Realtors®, Realtors® who have not earned a designation have a median income of $40,900 while those who have earned a designation have a median income of $82,900.

The 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.

The three courses leading to the GRI designation in Florida can be taken in any order. Instructors for the Sarasota GRI 2 are: Steve David, Pat Alters, Ira Zlatkin and Chuck Bonamer.


MLXchange education gives you the edgePre-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 BasicFeb. 7, Feb. 28, 9 a.m. to NoonMandatory session for all new users.Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work.- Review the home page features - Add a new client from the search 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 MLXchangeFeb. 7, Feb. 28, 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 AdvancedFeb. 8, 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 order- Edit favorite reports, personalize home page resource link, setting defaultsDesign Web Pages, Capture LeadsFeb. 8, 1:30 to 3:30 p.m.One of the most crucial components in today’s real estate professional’s day-to-day business is capturing and handling leads along with time management. This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go hand-in-hand with a successful real estate business.- Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders - Plans manager, copying and

modifying the action plan - Emailing the client private webpage - Customizing email templatesCreating a Professional CMAFeb. 22, 9 a.m. to NoonThis class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the defaultiMapp - Interactive Taxand Mailing LabelsFeb. 22, 1:30 to 3:30 p.m.In this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area.- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones- Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches


On

the

SAR

Sce

ne

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!

Affiliate Socials continue to grow

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

Erick Shumway, 2010 SAR President, with Gabriele Charity and Ruediger Weiss of Charity & Weiss at the Dec. 14th Affiliate Social.

Left, Roxanne Foley and Carole Samuels of RE/MAX Alliance Group at the Dec. 14th Affiliate Social. Above, Dawn and Geoff Rossman (RE/MAX Tropical Sands) at the same event.

Dena James and Sherri Spanos of Lakewood Ranch Communities at the Dec. 14th Affiliate Social.

Photography byJesse Sunday


Distressed Sales Report - Fourth Quarter 2010, and Full Year

After reaching a high in the second quarter of 2010, distressed property sales have decreased in the Sarasota area. But what the future holds is difficult to predict.

Nationwide, foreclosures were historically high in 2010 and buyers eager to own them came out in record numbers. Some experts are expecting foreclosures to climb even higher in the United States in 2011.

But whether or not that national picture translates locally remains to be seen. So far for the past two quarters the percentage of distressed property sales has been declining locally.

In 2009, distressed property sales locally represented about a third of the local market. That percentage topped 50 percent in the second quarter of 2010, but has since dropped off to 44 percent - still historically high, but demonstrating an improving picture.

Prices for distressed properties have leveled out for single family homes, with buyers able to garner many foreclosures for roughly a third of the price of normal arm’s length sales. Short sales are generally higher in price, but can still represent a 50 percent savings.

For condos, the disparity in prices has been even greater between foreclosures and arm’s length sales. The numbers continue to tell the story of two distinct markets - one for distressed properties, and the other for non-distressed properties.

While in early 2010 foreclosures appeared to be dropping, experts said the problem was masked by government policies that set out to curb foreclosures. The policies provided increased

funding for foreclosure education and gave lenders incentives for providing loan modification and refinancing for troubled home owners. But the new policies, experts said, only stalled foreclosures.

By April 2010, national data showed foreclosures in the first quarter were 35 percent higher than in 2009. However, most of the increase was in bank repossessions and REO homes, the final stage of foreclosure. A slower growth rate occurred in new foreclosures listings coming onto the market.

In 2010, metro areas in particular seemed to be hardest hit by an increasing number of foreclosures, with California, Nevada, Florida, and Arizona home to 19 of the top 20 foreclosure cities in the nation.

In the first half of the year, the extended $8,000 first-time home buyer tax credit and $6,500 tax credit for repeat buyers helped encourage sales and stabilize home prices. Home buyers in 2010 have also benefited from historic affordability levels, with the combination of record low mortgage rates coupled with rising household incomes.

The NAR Housing Affordability Index currently shows that a median-income family with a down payment of 20 percent has 184.2 percent of the income required to purchase a median-priced home.

“Low interest rates mean real money for today’s home buyers,” said 2011 NAR President Ron Phipps. “Buyers who purchased a median-priced home five years ago with an FHA mortgage requiring a 3 percent down payment would have a monthly mortgage payment

of $1,650. With today’s interest rates and median home prices, that same buyer would pay $1,150 per month – a $500 savings. That’s a savings of $6,000 per year.”

Despite record affordability and buyer incentives, rising foreclosure rates and concerns about proper foreclosure procedures led some to question whether owning a home was a good personal decision.

“Home ownership didn’t create the foreclosure crisis – Wall Street greed and irresponsible lending practices did,” said Phipps. “The decision to own a home is a very personal one, but over the long term, owning a home is one of the best ways to build long-term wealth, in addition to providing numerous social benefits that include reduced crime rates, improved childhood education, and increased stability. After all, a fixed-rate mortgage might last 15 to 30 years; renting is forever.”

Despite current economic challenges, most Americans still aspire to the dream of home ownership. According to a survey conducted earlier in the year by Bankrate.com, 90 percent of respondents said they had no regrets buying their current home. And just this month, a Fannie Mae survey found that most Americans – both those who currently own their homes and those who rent – strongly aspire to own a home and to maintain home ownership.

Distressed properties represent both a negative and a positive in the current local market - a negative because they reflect the continuing difficult economic times for many families; a positive because they provide opportunities to purchase property at incredible discounts.


02004006008001000120014001600

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

Total Sales ‐ By Quarter REO Short Arm's Length

See Additional Charts Online at www.sarasotarealtors.com/statistics


Ethi

cs In

Act

ion Unethical to pursue new listing accord?

A property was exclusively listed with Realtor® A who advertised it widely and invited cooperation from other Realtors®. The property was not sold during the term of Realtor® A’s listing, although both Realtor® A and Realtor® B, a cooperating broker, had shown the property to prospects.

Sometime after the expiration of Realtor® A’s listing, newspaper advertisements appeared indicating that the property was exclusively listed with Realtor® B. Shortly thereafter, the property was sold by Realtor® B.

Realtor® A confirmed that it was listed with Realtor® B and then charged Realtor® B in having failed to respect his exclusive agency status with the client by soliciting the listing. The Grievance Committee referred the complaint for hearing by a Hearing Panel of the Professional Standards Committee.

Upon due notice to the parties, a hearing on the complaint was called with Realtor® A and B present. Realtor® A’s specific charge was that Realtor® B knew that the client had originally listed the property with him, Realtor® A, because he had discussed the property with Realtor® B during the term of the original listing contract; that during the term of Realtor® A’s listing, Realtor® B had shown the property to the same individual who had now purchased the property through Realtor® B; and that with this knowledge Realtor® B’s action in soliciting the listing, even after it had expired, was a violation of Article 16.

Realtor® A told the Hearing Panel that when he had asked for an extension of the original exclusive listing, the client told him that because of a family problem he intended to take the property off the market for a few months, but would consider relisting at a later date.

Realtor® B conceded that he had known of Realtor® A’s exclusive listing at the time the listing contract was current; that he had known the term of the listing contract and, hence, knew when it expired; and that he had shown the property to the individual who eventually purchased it. However, he explained, he had no continued contact with the prospect to whom he had originally shown the property. After the expiration date of Realtor® A’s listing, he was approached by the individual to whom he had originally shown the property and who was still actively interested in purchasing a home. In reviewing the purchaser’s stated requirements and reviewing the market, the property in question seemed to correspond more closely than any other available properties.

Knowing that the original listing with Realtor® A had expired some time ago, Realtor® B simply called the owner to ask if the property had been relisted with Realtor® A. Upon learning that Realtor® A’s exclusive listing had not been extended, Realtor® B told the owner of his prospective buyer, solicited the listing, and obtained it. Realtor® B said he saw nothing unethical in having solicited the listing when it was no longer exclusively listed with another broker and felt that Realtor® A was without grounds for complaint.

The panel concluded that it was not the intent of Article 16 to provide any extended or continuing claim to a client by a Realtor® following the expiration of a listing agreement between the client and the Realtor®. The panel concluded that Realtor® A had not been successful in his efforts to sell the client’s property and that neither the property owner nor other Realtor® should be foreclosed from entering into a new listing agreement to sell the property.

The panel concluded that Realtor® B was not in violation of Article 16 of the Code of Ethics. - Case #16-5: Solicitation of Expired Exclusive Listing (Reaffirmed Case #21-11 May, 1988. Transferred to Article 16 November, 1994. Revised April, 1996.)

i


i

Brok

er C

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By G.M. FiliskoRealtor® Magazine Online

In the age of online ratings, your reputation depends on knowing what’s being said about you and how to react.

With the proliferation of online rating sites, consumers can disseminate their unfiltered opinions about your brokerage and your sales associates within seconds. And although the trend may be a good thing when the reviews are positive and truthful, it’s not so great when the comments are negative and possibly even false.

“That’s the bad part about the Internet. People can make things up,” says Mia Melle, broker and president of Renttoday.us, a property management company in Ontario, Calif.

Melle recently opted to ignore a harsh online review that was submitted anonymously, calling her company rude, dishonest, and a “rip-off king.” “It was so over-the-top that I hope no one would pay attention to it,” Melle says.

But beyond simply ignoring bad online ratings, what can you do to manage your online reputation?Be on Alert

First, know where customer reviews are appearing. The number of Web sites at which consumers can make or break your reputation has exploded in recent years. The list includes mainstream sites such as Citysearch, Yelp, and Yahoo as well as real estate–specific sites like Homethinking, AgentRank, and Incredible Agents.com.

Customers also can easily post comments about your company on blogs and social networking sites such as Facebook.

With so many sites out there, how can you keep track of what’s being said about your company? One easy way is to set up a search-engine alert (try Google Alerts at www.google.

com/alerts) so you’ll be notified any time your company is mentioned online.

Next, establish a procedure for handling negative reviews. “Respond promptly to every incident using the same medium the consumer used,” says Michael Harris Jr., founder of Ardynn PR, a Harrisburg, Pa.–based company that specializes in real estate marketing. “If the comment was made on Twitter, respond on Twitter. Also, make personal contact.”

Angie Vandenbergh does both. “If there’s a place to post a reply

or comment, I introduce myself, acknowledge the person had a problem, and offer to help,” explains the Web manager at Crye-Leike, Realtors®, in Memphis, Tenn. “If the comment involves a legal issue or a sales associate, I ask the office broker to contact the person.”Reclaim Your Good Name

If negative reviews are skewing search engine results for your brokerage, you can pay a company

like ReputationDefender to even out the results, making positive reviews appear more prominently.

“Our second-fastest growing market [after physicians] is real estate professionals,” says Michael Fertik, CEO of the Redwood City, Calif.–based company, which offers an array of products that monitor online presence. “We won’t fake good reviews. Instead we’ll strategically promote or flood the zone with good links to push out bad links.”

The key to a good online reputation - show every site visitor that you care. “Be honest,” Harris advises. “Say, ‘Wow, we messed up.’ Or if you don’t have an answer right then, post a message saying, ‘We’ll find a solution to this issue. Would you be willing to help us do that?’”

And keep things in perspective. “Don’t worry too much about individual comments,” Harris says. “Some comments aren’t worth spending a ton of time and money on because you may never win.”

How do you deal with online detractors?


rBy Cindi Jackson2011 WCR President

Real estate is a people business. Interpersonal relationships and networking is the core of a successful real estate career. Webster defines networking as “the exchange of information or services among individuals, groups or institutions; specifically: the cultivation of productive relationships for employment or business”.

The Women’s Council of Realtors® is a network of successful, knowledgeable and professional Realtors® and Affiliates helping each other to cultivate productive relationships for successful business and personal growth. We believe that when we leverage the power of our network, we can attain our personal and professional goals quickly. The members in our organization are professionals that make our network very unique. When our members invest their valuable time with us, we know they expect that investment to pay off. That’s why WCR delivers the kinds of information, resources and networking opportunities that help our members stay on top and out front of the real estate business.

Networking is hard work any way you cut it, but it can only start with you. Leadership begins with leading ourselves. Only then can we empower others in our business. We challenge you to take your networking to the next level for 2011. Join the Sarasota Chapter of the Women’s Council of Realtors® and you’ll discover an environment that makes the most of your skills, talents and ambitions, a community that both supports and encourages your success.

As one of the most successful communication networks in the National Association of Realtors®, WCR is the 14th largest U.S. women’s professional

organization. Our membership includes men and women that support the objectives of WCR, who are interested in serving the real estate industry, our community and fellow Realtors®.

Say goodbye to yesterday’s real estate market ~ we invite you to attend a business resource meeting, participate in our network and join the Women’s Council of Realtors®!

For membership information contact: Mary Hellhake, V. P. of Membership – 941-544-0763.

Upcoming WCR Business Resource Meetings

Friday, Feb 11, 11 a.m., Hyatt Downtown: “Safety for Real Estate Professionals” - Speaker: Kathy Vacca,

Friday, March 11, 11 a.m., Michael’s on East: “Time Management” - Speaker: Cheryl Stock

Friday, April 8, 11 a.m., University Park Golf & Country Club: “Recognizing and Avoiding Fraud” - Speaker: Dept. of Financial Services

11 a.m.-12 noon Business Networking12 noon – 1 p.m. Business Resource Meeting

- For reservations contact Linda Witt at [email protected]

- For Business Resource Meeting information contact Leslie Lauritano at [email protected]

Networking, Working Together - We’re Ready!

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

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

2011 Line OfficersMary Hellhake Vice-President Membership Michael Saunders & Company Cell: 941-544-0763 [email protected]

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

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

Mary Mastro Corresponding Secretary Keller Williams Lakewood Ranch Cell: 941-586-2402 [email protected]

L A K E W O O D R A N C H S P O T L I G H T

Play tag! Learn how at:lakewoodranch.com

Celebrate the arts with the whole family at Ovation!

LWR SPORTS COMPLEXscores MulqueenMeet Tim Mulqueen.

A Lakewood Ranch

resident for 5 years,

Tim will now work to

promote and oversee operations at the

Lakewood Ranch Sports Complex. A former soccer

goalie for St. Joe’s University in Philadelphia, his

professional career includes coaching Major League

Soccer teams in New York and Kansas City, as well

as coaching the US National soccer team.

You’ll be seeing and hearing a lot about Tim this year, as Lakewood Ranch gets ready to host severaltournaments at its new facility on state road 70, slated to open in April 2011.

Events at the Ranch’s most

popular gathering place raised

$242,766 for local charities in 2010

Here is the latest lineup for Music on Main!The Free monthly street partyfeautring live music every first Friday of the Month.

February 4Mumbo Jumbobenefitting Foundation for Dreams

March 4The VenturasBenefitting Honor Sanctuary

April 1Glass OnionBenefitting Real Rail

May 6Big T & The TornadoesBenefitting Sarasota Film Society

June 3Shotgun JusticeBenefitting LWR Community Fund

For more details on Main Street events go to www.lwrevents.com

L E T T E R F R O MRex JensenSchroeder-Manatee Ranch CEO and President

As we welcome in a new year, I amoptimistic for a great 2011 due toour success in 2010. The 15 yearanniversary of the first home soldin Lakewood Ranch was a topsales year with close to 250 newhome sales. By the end of the firstquarter of this year, LakewoodRanch will have 50 furnishedmodels by 15 different builders—more models and builders in onelocation than any other developerin the state. You will also see morenew neighborhoods popping up in 2011, including an age targetedcommunity—the first one in Lakewood Ranch.

Then in April, we will open theLakewood Ranch Sports complex—a facility that will house 22 contiguous soccer fields to hostsporting events from around thecommunity, the nation and theworld. Don’t blink, because 2011will be full of new ideas, innovation,and a few surprises from all of ushere at SMR.

Go to www.lakewoodranch.com orcall 941.907.6000 to discovermore about living on the Ranch.

OVATION IS COMING to LWRThe popular celebration of Suncoast performing

arts returns to Main Street on Saturday, February

5th starting at 10am. Don’t miss live performances

from a variety of arts organizations in Sarasota

and Manatee Counties. This fun filled day will

also feature kid’s activities and more.

For more information on Ovation please go to www.lwrevents.com.

LWRC-161 January Spotlight_Layout 1 1/10/11 12:24 PM Page 1


L A K E W O O D R A N C H S P O T L I G H T

Play tag! Learn how at:lakewoodranch.com

Celebrate the arts with the whole family at Ovation!

LWR SPORTS COMPLEXscores MulqueenMeet Tim Mulqueen.

A Lakewood Ranch

resident for 5 years,

Tim will now work to

promote and oversee operations at the

Lakewood Ranch Sports Complex. A former soccer

goalie for St. Joe’s University in Philadelphia, his

professional career includes coaching Major League

Soccer teams in New York and Kansas City, as well

as coaching the US National soccer team.

You’ll be seeing and hearing a lot about Tim this year, as Lakewood Ranch gets ready to host severaltournaments at its new facility on state road 70, slated to open in April 2011.

Events at the Ranch’s most

popular gathering place raised

$242,766 for local charities in 2010

Here is the latest lineup for Music on Main!The Free monthly street partyfeautring live music every first Friday of the Month.

February 4Mumbo Jumbobenefitting Foundation for Dreams

March 4The VenturasBenefitting Honor Sanctuary

April 1Glass OnionBenefitting Real Rail

May 6Big T & The TornadoesBenefitting Sarasota Film Society

June 3Shotgun JusticeBenefitting LWR Community Fund

For more details on Main Street events go to www.lwrevents.com

L E T T E R F R O MRex JensenSchroeder-Manatee Ranch CEO and President

As we welcome in a new year, I amoptimistic for a great 2011 due toour success in 2010. The 15 yearanniversary of the first home soldin Lakewood Ranch was a topsales year with close to 250 newhome sales. By the end of the firstquarter of this year, LakewoodRanch will have 50 furnishedmodels by 15 different builders—more models and builders in onelocation than any other developerin the state. You will also see morenew neighborhoods popping up in 2011, including an age targetedcommunity—the first one in Lakewood Ranch.

Then in April, we will open theLakewood Ranch Sports complex—a facility that will house 22 contiguous soccer fields to hostsporting events from around thecommunity, the nation and theworld. Don’t blink, because 2011will be full of new ideas, innovation,and a few surprises from all of ushere at SMR.

Go to www.lakewoodranch.com orcall 941.907.6000 to discovermore about living on the Ranch.

OVATION IS COMING to LWRThe popular celebration of Suncoast performing

arts returns to Main Street on Saturday, February

5th starting at 10am. Don’t miss live performances

from a variety of arts organizations in Sarasota

and Manatee Counties. This fun filled day will

also feature kid’s activities and more.

For more information on Ovation please go to www.lwrevents.com.

LWRC-161 January Spotlight_Layout 1 1/10/11 12:24 PM Page 1

Mem

bers

hip

New

s Designated Realtors®

Fous, Gregg: Market America Realty & InvestLight, Donald: Ronnie Dewitt and AssociatesPereyra, Robert: ROEM Realty LLCWise, Gary: Beachside Resorts Inc.

New MembersBailey, Kim: LSI PropertiesBell, Willis: Century 21 AdvantageBrooks, Christina: Shirley International RealtyCole, Susan: Beachside Resorts Inc.Conner, Cheryl: Millenia RealtorsCorbino, Michael: Edwin Alley Lic R E BrokerDammann, Eric: Horizon Realty InternationalDuShane, Ceil: Sandals Realty of SarasotaEndara, Nancy: White Sands Realty Group Inc.Engel, Bruce: Allen Real Estate Services Inc.Flanders, Jennifer: Prudential Palms RealtyFrostad, Alden: Seaside Paradise RentalsIspaso, Robert: Michael Saunders & CompanyJohnson, Kyra: Mount Vernon Property Mgmt Inc.Kessler, Erin: Horizon Realty InternationalKrstec, Natalie: Southbay Realty Inc.McCollough, Janet: Coldwell Banker Res R EMerriman, Wendy: Coldwell Banker Res R EMills, John: Hook & Ladder Realty Inc.Morel, Alexander: Wagner RealtyMorgan, Kathleen: Premier Properties Realty Inc.Netzel, Thomas: Signature Sothebys Internat’lPayne, Mike: Sandals Realty of SarasotaRogers, Ronna: Horizon Realty InternationalRoy, K. Joseph: Wagner RealtyValenti, JoAnne: Keller Williams Lakewood RanchNow With ...Alba, Keyla: Jennette Properties Inc.Allen, Sania: Sandals Realty of SarasotaAndres, Roberta: Beachside Resorts Inc.Barta, Lorraine: Sarasota Premier PropertiesBers, Andrew: RE/MAX Alliance GroupCharron, Pamela: Michael Saunders & CompanyCiampolillo, Todd: RE/MAX Alliance GroupDAngelo, David: Meadows Real Estate ServicesDean, Thomas: Meadows Real Estate ServicesEllis, Whitney: Neal Communities Realty Inc.Frost, Jim: Meadows Real Estate ServicesFrostad, Alden: Seaside Paradise RentalsGeweye, Charles: Coldwell Banker Res R EGiarrano, Leonard: Michael Saunders & CompanyGlah, Patricia: Horizon Realty InternationalGreer, Kay: Coldwell Banker Res R EJozefowicz, Danuta: Realty Executives SolutionsJurney, Ralph: Coldwell BankerKedzierski, Dennis: RoseBay Real Estate Inc.Knight, Joseph: Meadows Real Estate ServicesKoelling, Ronnie: Sandals Realty of SarasotaLanger, W. Jeff: Prudential Palms RealtyMaslen, Sandra: Michael Saunders & CompanyMcCann, Mark: Ascendia Real Estate

McDonald, Barbara: Michael Saunders & CompanyMiller, Susan: Overseas Realty, Inc.Petsinger, Robbie: RE/MAX Alliance GroupQuesnel, Omer: Michael Saunders & CompanyRees, Jane: Signature Sothebys Internat’lSmith, Robert: Horizon Realty InternationalSpinks, Nancy: Cityscapes Int’l Realty GrpSulzberger, Ludmilla: Wagner RealtyTeresa, Sandra: Michael Saunders & CompanyThomas, Elizabeth: Michael Saunders & CompanyUnger, Joshua: Market America Realty & InvestWeiss, Douglas: Beachside Resorts Inc.Werner, Allison: Michael Saunders & CompanyWhite, John: Beachside Resorts Inc.New AffiliatesAcademy Mortgage2201 Cantu Ct. Ste 119Sarasota, FL 34232Phone Number: 941-357-7000Representative: Joe AdamaitisSpecialty: I have been in Mortgage Banking for nearly 30 years. Past employment includes ownership of my own firm for seven years (Direct Mortgage Services, Inc.) which operated in five states including ME, MA, NH, CT and FL. This experience encompassed all areas of lending and in turn has allowed me to provide a high level of service to my clients. I am an advocate of helping clients learn as much as possible and specifically encourage borrowers to ‘Know Who Your Lender Is’. I encourage clients to always ask questions as lending is a changing process. I take seriously the fact that it’s my job to answer each and every question and to help borrowers make informed decisions. My goal is to allow you the opportunity to own a home with as little hassle as possibleEmail: [email protected]

Artistic Pools of Sarasota Inc.4882 Oak Pointe WaySarasota, FL 34233Phone Number: 941-225-0025Representative: Kathi KingSpecialty: Artistic Pools of Sarasota Inc. is a full service pool company, providing new construction, renovation, resurfacing, decking, rescreening and all other stages of pool operations. Owner TJ Warren, a Sarasota native with over 10 years experience in the pool industry is onsite during the process of service. Kathi, a 45 year resident of Sarasota will assist you in creating a magical outdoor pool living area to please you. Artistic Pools of Sarasota Inc. prides themselves in quality workmanship and customer satisfaction from start to finish. Give Kathi a call for any questions or assistance you may need.Email: [email protected]

The Association is pleased to welcome new members!

Continued on P. 31, See MEMBERSHIP


Commercial Real EstateCommercial Real Estate Lending: NAR supports

protecting and enhancing the flow of capital to commercial real estate. NAR believes Congress should consider legislation aimed at improving commercial real estate markets. These include increasing the cap on credit union member business lending and improving lending access through the passage of the Small Business Lending Fund.Business Issues and Technology

Data Security: Realtors® strongly support efforts to protect their clients’ sensitive personal information but believe that any legislation must not overly burden small firms with

limited resources. Federal data security legislation should not preempt state laws which generally offer additional protection.

Broadband Access: NAR supports national broadband policies designed to provide all American communities with the affordable high capacity connectivity necessary to support today’s business and workforce. A variety of options should be considered to encourage broadband deployment, including action by both the private and public sectors.

Net Neutrality: NAR believes that Internet users should be in control of what Internet content is accessed, the applications used, and the legal devices that they choose to connect to the Internet. Network providers should not be allowed to discriminate among Internet data transmissions on the basis of the source of the transmission as they regulate the flow of network content

Cornerstone Title11061 Gatewood Drive Suite 101Bradenton, FL 34211Phone Number: 941-708-0300Representative: Mary HowardSpecialty: Anyone can sell title insurance, we provide Closing Experiences. CornerStone Title is built on the foundations you need in a title company; clear communication, attention to detail and a sense of urgency. These are the hallmarks of exceptional professional service. CornerStone Title was created to not only be successful, but significant. We achieve significance by being a positive light to our clients, employees and community through the experience they encounter while working with us. We offer full real estate settlement and closing services.Email: [email protected]

Goff Wireless5590 Broadcast CourtSarasota, FL 34240Phone Number: 941-302-0404Representative: Charles R. StephensSpecialty: The name Goff has been synonymous with wireless communications for over 50 years. As a business customer, your wireless needs are much more complex than the ordinary user. We believe it takes more than a 3 minute conversation at the mall to understand those needs. That is why we maintain a professionally trained staff that will come to your location. They will listen hard and work harder, taking the time needed to understand and meet your goals. So if you would like a better wireless experience, give us a call. We can help you today! Goff is a Certified Sprint Business Dealer.Email: [email protected]

Inspection Connection of SAR5050 Central Sarasota Pkwy#206Sarasota, FL 34238Phone Number: 781-367-8105

Representative: Roger WardwellSpecialty: Our firm was established to provide a reliable option for a client’s interest in a residential property, so he or she may gain an understanding of the condition of the systems and equipment on that property. If there are any identifiable major deficiencies that could lead to additional monetary expenditures; beyond purchase, etc. We also offer some specialty services, beyond the basic home inspection, to respond to the specific needs of our clients, such as: water quality tests and radon gas tests.Email: [email protected]

Medallion Homes2212 58th Ave E.Bradenton, FL 34203Phone Number: 941-359-9300Representative: Gregg GlasserSpecialty: Medallion Home, one of the premier semi-custom homebuilders in the State of Florida, has been successfully servicing its new home customers since 1984. Medallion Home has New Homes for Sale in FL right now! With a concentration on the beautiful Gulf Coast areas of Sarasota & Manatee Counties, Medallion Home stresses its cornerstones of business: Quality, Customer Service & Integrity while successfully developing and building communities in Sarasota, Bradenton, Palmetto, Parrish, North Port, University Park and beyond.Email: [email protected]

Lyons, Beaudry & Harrison, P.A.1605 Main Street, Suite 1111Sarasota, FL 34236Phone Number: 941-366-3282Representative: R. Craig HarrisonSpecialty: Lyons, Beaudry & Harrison, P.A. has served the people of Sarasota and Manatee counties for over 30 years, offering general legal services with an emphasis on Wills, Trusts, Estates and Estate Planning, Real Property, Litigation, Arbitration and Mediation. The lawyers of Lyons, Beaudry & Harrison, P.A. provide their clients with the highest quality legal servicesEmail: [email protected]

MEMBERSHIPFrom Page 30

PRIORITIESFrom Page 10


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New Listings Single Family

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Source: Sarasota Association of Realtors® MLS

Monday Tuesday Wednesday Thursday Friday

Jan. 31 8 a.m. GRI #1 9 a.m. Design Web Page 1:30 p.m. MLXchange Advanced

Feb. 1 8 a.m. GRI #1

2 7:30 a.m. Toastmasters 8 a.m. GRI #1

3 8 a.m. Power Marketing (University Park CC)

4 9 a.m. CID Commercial Marketplace

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

8 9 a.m. Core Law/14 Hrs CE 9 a.m. MLXchange Advanced 1:30 p.m. Design Web Page

9 9 a.m. 14 Hrs CE (Cont.)

10 8 a.m. Power Marketing (SAR)


14 9 a.m.– 4 p.m. New Member Orientation & Code of Ethics

15 8:30 a.m. CID General Membership

16 7:30 a.m. Toastmasters 9 am Global Business Seminar 12 p.m. RAJC Short Sale Update


18 9 a.m. CID Commercial Marketplace-Off Site

21 SAR CLOSED PRESIDENT’S DAY

22 9 a.m. Creating a CMA 1:30 p.m. iMAPP 5 p.m. Affiliate Social The Loft Ristobar

23 9 a.m. Emerging Leaders



28 9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings

March 1

2 9 a.m. Tax Short Sale Seminar

3 8 a.m. Power Marketing (University Park CC)


FEBRUARY 2011

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.

EDUCATION & EVENTS CALENDAR

The Xtra Pages - D

igital Version OnlySarasota Association of Realtors® MLS

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Days on Market Single Family

Condo


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Months of Inventory Single Family

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New Listings Single Family

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


Sales Volume Single Family

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

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


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2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4

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REO Short Arm's LengthCondo Median Sale Price

2010 - Fourth Quarter Report


0

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

Arm's Length Sales ‐ By QuarterSingle FamilyCondo

4,3494,940

5,603

6,504

7,596

6,841

4,3533,922

4,6265,183

5,466

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

2,137

65337036

8167

9697

11267

10562

63586042 5820

6739

7603

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Annual Sales ‐ 2000 to 2010Single Family Condo Total

$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$160,000 $163,000

$142,000

$145,000$173,000

$191,000

$225,000

$305,000$301,225

$336,250$320,000

$210,000

$163,000

Annual Median Sale Price ‐ 2000 to 2010 Condo Single Family

$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

$160,000 $163,000

$142,000

$145,000$173,000

$191,000

$225,000

$305,000$301,225

$336,250$320,000

$210,000

$163,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Annual Median Sale Price ‐ 2000 to 2010 Condo Single Family

sarasota realtor magazine - february 2011

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