sarasota realtor magazine - may 2011

Notice: My Florida MLS and MFCRE fees are due May 16th - See Page 22

What’sNext ?

See Page 6

MAY 2011

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

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.

Ask about our 2011 REALTOR® incentive program!

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

Sarasota Realtor® MagazineVolume 8, Issue 5

MAY 2011

Sarasota Association of Realtors®, Inc.

3590 South Tuttle Avenue Sarasota, Florida 34239

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

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

2011 SAR 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 StaffDirector of Communications

Ray PorterDirector of Membership

and Administrative ServicesDan Andrews

Director of Information TechnologyJesse Sunday

Director of Professional DevelopmentCatherine McCaskill

Governmental Affairs DirectorMarc Mansfield

ProductionCoastal Printing, Inc.

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

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

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

e 8

• Is

sue

5 •

MAY

201

1 C

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6 Cutting Edge Real estate professionals know all too well the travails of adopting new, cutting edge technology to stay ahead of the curve, so what are today’s tools that make sense?

10 Capitol Ideas SAR led a contingent of real estate professionals to Tallahassee for the annual Great American Realtor® Days event, and Marc Mansfield was there and has the scoop.

12 Recapture Rule The Florida Legislature is considering a revision to the Recapture Rule on the Save Our Homes property tax cap - what does this mean to you?

15 Super Spring March 2011 sales statistics in the Sarasota market proved very strong, with total closings at a six-year high, pending sales over 1,200, and sales prices up for both single family homes and condos!

18 Lending Improves Anthony Homer, CID President for 2011, looks at the recent trends for commercial real estate, and the apparent recovery and improved lending atmosphere locally.

In every issue10- Governmental Affairs12- Property Appraiser15- Sales and Listing Statistics18- Commercial Investment Division20- Education Programs24- On the SAR Scene27- RAJC Corner28- WCR29- Global Business Council30- Membership32- Calendar of Events/Education

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

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

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

Roger Wardwell: SAR Affiliateof the Month for May 2011

Roger Wardwell, owner of The Inspection Connection of Sarasota, a residential home inspection company, is the SAR Affiliate of the Month for May 2011.

Roger is a Florida Licensed Home Inspector, as well as a Florida Registered Professional Mechanical Engineer. He carries the state-mandated General Liability Insurance, as well as E&O Insurance.

The Inspection Connection of Sarasota performs full home inspections, as well as the 4-Point

Insurance Inspections. These can usually be scheduled within a day and the client can expect personal attention, as the firm never does any more than one full inspection in any one day. The service area basically covers Sarasota and Manatee counties, from Bradenton to Venice, including Lakewood Ranch.

More complete information, tips, etc., can be found at: http://mysite.verizon.net/res16n7b5/ or at,http://www.nshimembers.com/sites/inspection_

connection_of_sarasotaRoger can be reached at 941-922-1751 (H) or 781-367-8105

(M) or by email at [email protected]

Roger Wardwell

SAR slates June 3rdmembership meeting

Save the date! The Sarasota Association of Realtors® will hold the first Membership Meeting of 2011 on Friday, June 3rd at Troyer’s Dutch Heritage Restaurant, 3713 Bahia Vista Street, Sarasota:

Lunch and networking begins at noon and the meeting will be called to order at 12:20 p.m. During the meeting, SAR will award the four $2,000 education scholarships to students selected by the Scholarship Committee.

The SAR Annual Membership Meeting is set for Friday, Sept. 16, also at Troyer’s Dutch Heritage. Lunch and networking will begin at noon, and the meeting called to order at 12:20 p.m. The meeting will feature the annual election of SAR officers and directors, and a report on the association activities during the first nine months of the year.

RiddellLaw Group

KNOWYOUR OPTIONS

R L G

3400 S. Tamiami Trail, Sarasota, Floridawww.rlglawfirm.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

www.sarasotarealtors.com Sarasota Realtor® Magazine MAY 2011 5

t“So, how’s that new robot working out in your brokerage? Have you trained it on the MLS yet?” – Future Sarasota Realtor®, 2020 A.D. (or sooner?)

The future is here. It has arrived. We are living in it today. Technology is at the heart of this future world we inhabit, and most successful real estate professionals live at the cutting edge of this new technology.

If you feel like the future has sped past, and you’re ready (and anxious) to purchase and utilize the best technology hardware and software to help you run your real estate enterprise, you’re in luck. There’s a lot of choice in the market.

But with the constantly changing, evolving, updating and emerging technological world, you’re probably confused, bewildered, frustrated, and even a little overwhelmed.

What happened to the good old days when it was only your desktop PC that was a mystery, a threat, and a tool you couldn’t do without (even though you longed for the days of printed MLS books, paper notepads, and old-fashioned land lines). Now there’s the PC, the laptop, the smart phone, the tablet, the Internet, the “cloud”, and the young, competitive Realtor® around the corner who plays video games while simultaneously zipping through a technological property transaction with the ease of a character from “The Matrix” or “Tron: Legacy”.

Is it fair? The world of real estate in 2011 is far different for real estate in 2001, and especially 1991. But the good news is that the technology is becoming more user-friendly all the time, while providing greater benefits to the real estate industry.

Jesse Sunday, the SAR Director of Information Technology, believes Realtors® need to pick and choose their devices and applications based upon their own individual preferences - with some guidance from the pros (see box at right).

“There’s a lot of choice right now in the market, and there is not one perfect path to follow,” explained Jesse. “If you’re comfortable with a Blackberry smartphone, get the latest Blackberry. If you like iPhones and the touch screens, go with iPhone. If you prefer a notebook computer, find the latest one from the manufacturer you prefer. Same with the tablet.”

Today, technology is faster, smarter, brighter, lighter, more robust and less expensive than in the past. Computers have far better chips for speed of processing, much bigger memory (both for storage and processing speed memory), and improved operating systems (for less down time, and better productivity). It’s hard to go wrong, right? Well ...

“There will always be glitches and people will always experience issues with their technology,” Jesse explained. “Just use the resources we provide, and you’ll get the most from your technology purchases.”

Brad Nix is recognized as a recipient of the 2010 Realtor® Technology Spotlight Award in the Visionary category by NAR’s Center for Realtor® Technology. Check out what Brad shared with his fellow Realtors®:

Cove

r Sto

ry Embracing ChangeTechnology has started to converge with real estate

Continued on P. 8, See TECHNOLOGY

See More Tech Articles, Pages 7, 19, 20 and 25 Florida Realtors® OffersFree Tech Support

The Florida Realtors® Tech Helpline is available to answer members’ questions Monday - Friday from 9 a.m. to 8 p.m. and on Saturdays from 9 a.m. to 5 p.m. Just call 407.587.1450 and have your membership information handy (either your FREC license number or NRDS number). Or you can access this free service via email for computer support questions or chat for live computer support.

The Tech Helpline team handles a variety of questions and problems, including: - Helping Florida Realtors® members maximize business tools, support features - floridarealtors.org.- Advice on shopping for hardware, software or digital equipment- Advice on installing and configuring new hardware and software- Diagnosing computer hardware malfunctions- Helping get the best performance from equipment- Working through system failure of basic hardware and software components. - Recommending the most current software for your computer system. - Troubleshooting Local Area and Dial-Up Networking configuration and connectivity. - Consulting with members about networking opportunities.


By Michael AntoniakRealtor® Magazine Online

This year, real estate professionals have more choices than ever in portable computing solutions. With diverse offerings in notebooks, netbooks, and the burgeoning breed of tablets, there’s a system out there that’s right for you. Deciding which one that is, though, may not be so easy. Each product carries distinct benefits and drawbacks.

If you candidly evaluate all of the capabilities you need while on the go, you can figure out which solution will help you make the most productive use of your time and optimize service to buyers and sellers.

Specs That Matter for Real EstateBuyers will find it hard to resist the allure of all the new tablets

coming this year. The overwhelming success of Apple’s iPad, shadowed by Samsung’s Galaxy, has spawned a legion of legit competitors and pale imitators. (Editor’s Note: At presstime, we’ve seen the advent of the Motorola Xoom, Blackberry Playbook, Asus Eee Slate, and many more.)

Should any of these be your next mobile PC? Maybe, but only after you’ve weighed all choices against your personal preferences and professional requirements.

Any Web-enabled device, whether it’s a mobile computer or a smartphone, can get you online today, but you’ll want to make sure that the browser for that device will work with your MLS (particularly our own My Florida Regional MLS system) so you can search it and pull listing information and photos. That’s not always guaranteed for hardware running anything except some version of the Windows operating system. So, start your search by asking your MLS which mobile platforms it supports.

The availability of the software you rely on for routine functions like contact management, CMAs, tour building, and marketing isn’t as big an issue as it was. You’ll still want to ensure that a catalog of real estate software is available for your hardware. But with developers’ migration to Web-based applications or cloud computing, many of the tools you need are now offered as services you can access anywhere, anytime, via the Web.

Going forward, digital documents and electronic signatures will become standardized in terms of how contracts, disclosures, and all types of forms are managed in the course of a

Buyer’s guide to tablets, netbooks and more

Continued on P. 8, See GUIDE


1) What is your favorite tech tool out there? What makes it so great?

I like my iPhone, but if I can only pick ONE fave tech tool it’s gotta be … email. You just can’t beat the ubiquity, portability and flexibility of good old fashioned email. Many who use social media still get notifications via email. People subscribe to blogs via email. I even get my voice mails via email – they’re just easier to manage, respond to, and delegate that way.

2) Where do you get the latest technology information to keep you ahead of the curve?

Blog posts, magazine articles, conversations with leadership, conversations with frontline practitioners, twitter, facebook, company meetings, association committees, vendor trade shows. You never know where the next great tech tool or implementation tactic is going to come from. But if you surround yourself with lots of opportunities, it’s hard to miss the obvious ones.

3) As a tech thought leader – what kind of information are you looking to get your hands on?

Adoption curve models, event feedback, education

requests, leadership changes, budget allocations, and blog topic trends. These are great resources for identifying what the majority desires or needs to thrive in a new environment. Both anecdotal and scientific evidence help define what’s really happening at both the grass roots level and upper management levels of our industry. I want to hear from the industry practitioners as often as possible in as many different formats as possible.

4) What is the biggest trend you see developing in real estate right now – tech or otherwise?

Moderation. There aren’t as many frantic waves of excitement around any market condition improvements. The same can be said about new technologies as they come to market. Either because there isn’t much to be excited about, and I do believe some things and some places are worth raising your heartbeat a bit – or industry professional are just taking things more in moderation than before. However, even beyond those reasons there is a sense of pause and thought – a more methodical industry seems to be rebuilding itself one block or byte at a time.

5) Finally, which do you like best – iPhone; Android; WindowsMobile; Blackberry; Other? iPhone because Apple’s intutitive design and smooth interface are second to none.

www.medallionhome.com • 2212 58th Ave East • Bradenton • 941-359-90004% Commission paid on existing inventory homes contracted and closed no later than June 30, 2011.In the event that home does not close by June 30, 2011, then standard commission of 3% will be paid.

• Cultivate Clients

• Dig the Dirt on our Plots of Land Get to the root of what makes a Medallion Home unique... from quality construction to semi-custom design, we have a bouquet of fresh floor plans with enough variety to appeal to all of your clients.

• Tour our Neighborhoods Walk the models. Talk to our New Home Sales Specialists. Collect a Gold Medallion worth $500 at each neighborhood.*

• Sow Seeds by showing your clients the Garden of Medallion and watch your Bonus Bloom.

• Water your Garden by keeping in touch. Look for texts and emails with special pricing/offers on inventory homes.

• Harvest your Profits by selling any new Medallion Inventory Home in the month of April. Redeem your Gold Medallions for up to $5000 bonus per sale, in addition to your commission.*

• Reap Additional Profit Continue collecting Gold Medallions to redeem during the fall harvest.

• Drawing for Backyard Makeover Visit six Medallion neighborhoods by June 31, 2011 to qualify. Winner receives a Garden Center Shopping Spree worth $2500. To participate, pick up our Home and Garden Almanac and have a Sales Associate stamp your Garden Plot as you visit each location. (Available at SAR meetings or at any Medallion neighborhood.

* Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Must present coins at time of registration. No more than 10 Medallions ($5000 value) may be redeemed per any Medallion inventory home sold up to June 30, 2011. Not valid with any other promotion.

Gardening Tips

transaction. Your mobile hardware should support that in a way that’s practical and comfortable for you and your clients. Fortunately, most do now, but it’s something to keep mind when you’re evaluating mobile solutions that run on a proprietary operating system.

Given all these considerations, what should be your next mobile computing solution?

For many, the answer is still some form of notebook. With its full-sized screen and keyboard, this category still provides a comfortable user experience and a great deal of functionality. It also offers the greatest selection in system designs, features, and upgrade options, making it a potential option for your primary computer for the home, office, or field.

Today’s buyer can find an adequate notebook for as little as $500. Price, though, is one good indicator of both system size and features. Entry systems tend to be a bit bulkier with slower processors, smaller hard drives, and fewer expansion options. Top-of-the-line systems — which essentially cost as much as you want to spend — boast all the latest features in sleek packages that are built for the rigors of the road.

Netbooks, the notebook’s smaller and less expensive cousin, are fine for those who want a second computer that’s less cumbersome and who are willing to settle for a smaller screen and keyboard and less powerful specs. You’ll find basic netbooks for as little as $200 this year, but for a compact system that mimics true notebook performance, expect to pay closer to $500 or more.

That’s also the entry price for Apple’s iPad, the system that finally established the self-contained tablet as a viable mobile

computer. Potential buyers should keep in mind the primary intent of these systems: a mobile window to the world of all types of digital content, such as movies, books, and music. However, with software apps, a tablet can be transformed into much more. Consider the software catalog and range of real estate apps when evaluating the hardware. To date, software developers have shown most interest in developing programs for the iPad and tablets running Google’s Android operating system.

Tablet functions are controlled by a touchscreen interface. Some users may find the soft keypads on screen or compact keyboards built into several models impractical for composing a lot of copy or entering large amounts of data. Accessory keyboards are available, if you don’t mind carrying something else along.

For those who want the convenience of a tablet for taking notes or capturing digital signatures but still prefer the comfort of a full-sized keyboard and screen, a hybrid notebook/tablet PC may be your best option. These easily switch between operating modes with a twist of the screen, allowing you to work however the situation demands.

Shopping TipsLet your budget be your guide: Get the best system you can

afford today. Figure out the range you’re willing to spend, and evaluate options at all price points.

Where to buy: You’ll find some mobile computing solutions in stores, and that’s a good place to get the hands-on experience that will guide you to your best system. But if you don’t find exactly what you want there, head to manufacturers’ Web sites and online stores. The selection is greater there, and you can upgrade features to design the system that’s right for you.

GUIDEFrom Page 7

TECHNOLOGYFrom Page 6


www.medallionhome.com • 2212 58th Ave East • Bradenton • 941-359-90004% Commission paid on existing inventory homes contracted and closed no later than June 30, 2011.In the event that home does not close by June 30, 2011, then standard commission of 3% will be paid.

• Cultivate Clients

• Dig the Dirt on our Plots of Land Get to the root of what makes a Medallion Home unique... from quality construction to semi-custom design, we have a bouquet of fresh floor plans with enough variety to appeal to all of your clients.

• Tour our Neighborhoods Walk the models. Talk to our New Home Sales Specialists. Collect a Gold Medallion worth $500 at each neighborhood.*

• Sow Seeds by showing your clients the Garden of Medallion and watch your Bonus Bloom.

• Water your Garden by keeping in touch. Look for texts and emails with special pricing/offers on inventory homes.

• Harvest your Profits by selling any new Medallion Inventory Home in the month of April. Redeem your Gold Medallions for up to $5000 bonus per sale, in addition to your commission.*

• Reap Additional Profit Continue collecting Gold Medallions to redeem during the fall harvest.

• Drawing for Backyard Makeover Visit six Medallion neighborhoods by June 31, 2011 to qualify. Winner receives a Garden Center Shopping Spree worth $2500. To participate, pick up our Home and Garden Almanac and have a Sales Associate stamp your Garden Plot as you visit each location. (Available at SAR meetings or at any Medallion neighborhood.

* Medallion Home Gold Coins have no cash value until the closing of a Medallion Home. Must present coins at time of registration. No more than 10 Medallions ($5000 value) may be redeemed per any Medallion inventory home sold up to June 30, 2011. Not valid with any other promotion.

Gardening Tips

SAR joins local contingent at annualGreat American Realtor® Days event

lG

over

nmen

tal A

ffai

rsBy Marc MansfieldGovernmental Affairs Director

Led by SAR President Michael Bruno, several members of SAR and yours truly joined approximately 800 Realtors® from across the state to storm the Capitol on April 12th and 13th to encourage our elected officials to move quickly on issues important to all Realtors®.

During our two day stay, SAR met with Senators Michael Bennett and Nancy Detert, and Representatives Ray Pilon and Doug Holder. While the biggest issue on the minds of Senators and Representatives was the reconciliation of the proposed budget, Great American Realtor® Day participants reminded legislators that work still needed to be done on Realtor® priorities for 2011, which include the following:

Property Insurance: A non-windstorm claims crisis has led Florida into a deteriorating voluntary insurance market that must compete with Citizens Property Insurance Corporation, whose rates are simply not sustainable over time. Certain cost drivers, some of which are unique to specific regions, are making insurance more expensive for everyone.

As a result, the Legislature and new governor share a bottom-line attitude that is giving way to reform proposals ranging from higher premiums and reduced eligibility to shutting down the state’s insurer of last resort immediately, leaving 1.3 million policyholders scrambling for coverage. As a result, Realtors® must now balance their desire for available property insurance with affordable premiums. Realtors® support efforts to contain the cost drivers that weaken the insurance market for insurers and policyholders. In the end, we all want the same thing: A solvent insurance market that meets the needs of Florida property owners and businesses.

Affordable Housing: The William E. Sadowski Affordable Housing Act is of enormous significance since it provides the funding mechanism for a dedicated source of revenue for state and local housing programs through the collection of documentary stamp taxes. During the real estate boom, the fund exceeded a half-million dollars and unfortunately became a funding source for other state programs. The 2005 Legislature imposed a $243 million cap and

swept excess funds into general revenue. Realtors® support “Scrapping the Cap” on Sadowski Trust Funds and oppose permanently redirecting money generated by doc stamp taxes to general revenue. If the trust funds are swept to general revenue, Realtors® advocate reducing the doc stamp tax proportionately.

Property Tax: Several proposed bills could have a positive impact on property taxes. One bill would cap the annual assessment on non-homestead properties such as commercial buildings, vacant land and vacation homes to as low as three percent. Another bill would provide incentives for first time buyers in the form of an exemption of 50 percent of a home’s assessed value, up to $200,000 that gradually decreases as Save Our Homes kicks in. And it would also eliminate the recapture provision in Save Our Homes, thereby preventing property tax increases in a down market. These bills would require a change in the State Constitution and Realtors® are asking legislators to put these initiatives on the Presidential Preference Primary Ballot in early 2012.

Septic Tank Inspection: In November 2010, lawmakers voted to delay mandatory inspections for septic tank owners until July 2011. Realtors® support the least intrusive inspection program possible for onsite wastewater systems, taking into consideration proximity to first magnitude springs and standards for which the systems were originally permitted. The Legislature must preserve Florida’s natural resources while balancing private property rights and fund the final phase of a statewide study to determine ways to reduce emissions of nitrogen from septic tanks into springs and other bodies of water.

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

40 model homes are open daily in Lakewood Ranch

NEW HOME SALES RISE 245% first quarter numbers are inNew home sales numbers are up dramatically in the

first quarter of 2011, with 107 sales in Lakewood

Ranch, compared to 31 sales in the first quarter of

2010. That’s an increase of over 245%! “The sales

activity is incredible right now in Lakewood

Ranch,” said Jimmy Stewart, LWR Communities’

director of sales. “Ten of our home buyers this

quarter first came looking at Lakewood Ranch

back in 2007—they have been in the market for a

few years and have realized, like so many other

savvy consumers that now is the time to buy.”

With 40 new home models to see in Lakewood

Ranch and 130 homes currently under construction,

walk-in traffic to our information centers and models

is up dramatically as well. In the first quarter

more than 5,300 people visited our models and

information centers, compared to just over 3,500

last year. “We have so much for people to see here,”

said Milt Flinn, LWR Communities’ president,

“We just completed construction on our new

residents’ club in Country Club East, and there

are so many new models. There is nothing else

like Lakewood Ranch in the entire state of Florida.”

A grand opening celebration for the new residents’

club is in the works for Memorial Day weekend

and there are two new models now open in

Secret Harbor, in Country Club East. John Cannon

Homes is the first of several builders to start a

new model in the newest section of The Lake Club,

called The Vineyards, aiming for a November

completion date to tie in with Tour of Homes.

New homes with home site start from the $150s.

Models are open daily and free tours of the Ranch

are always available! Call 941.907.6000 for more

information or go to www.lakewoodranch.com.

L E T T E R F R O MCandice McElyea, Director of Marketing and Public Relations

Spring has sprung here

in Lakewood Ranch!

With more than 100

new homes sales in

the first quarter of this

year, traffic to our

models has picked up dramatically

and this is the perfect time of year

to plan a tour of beautiful Lakewood

Ranch. To stay informed of all of

the great things happening on the

ranch, check out all of our social

media sites listed below—you

might even spot yourself or your

friends and family!

“Like” Lakewood Ranch:

www.facebook.com/LakewoodRanch

Become a fan of our Main Street:

www.facebook.com/Lake

woodRanchMainSt

Join our newest facebook page for

the Premier Sports Campus:

www.facebook.com/pages/

Premier-sports-campus-at-Lakewood-

Ranch/211681022175288

See the latest video diary of all of

the great things happening around

Lakewood Ranch:

www.thisweekinsarasota.com

Go to www.lakewoodranch.com or

call 941.907.6000 to learn more!

COMMERCIAL REAL ESTATE UPDATEnew businesses buzzCommercial Real Estate in

Lakewood Ranch continues to

show signs of success, with more

doors opening every day. A new

business is set to open soon on

Main Street in Lakewood Ranch.

Urban Accents, a modern home

accessories store is scheduled to

open this summer, one door down

from Chico’s.

The cooking school set to open on

Main Street will host an August

grand opening celebration, with a

soft opening planned possibly for

late July. Music on Main, the free

street party on the first Friday of

every month is attracting more

people than ever before. So far in

2011, more than $15,000 has been

raised for area charities at this

popular monthly event.

Land has been cleared and the

infrastructure is going in for LostCreek Apartments on Lakewood

Ranch Blvd north of State Road 70.

A temporary leasing office will be

on site this summer, with residents

being able to move in by the end of

this year. The clubhouse will be the

first building constructed on the site.

To find out more about commercialreal estate opportunities in Lakewood Ranch call 941.907.6677or go to www.lakewoodranchcom-mercialrealty.com.

NEW HOMESwith home siteFROM $150s*

*Prices subject to change without notice.

LWRC-198 SAR May_Layout 1 4/18/11 9:13 AM 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

40 model homes are open daily in Lakewood Ranch

NEW HOME SALES RISE 245% first quarter numbers are inNew home sales numbers are up dramatically in the

first quarter of 2011, with 107 sales in Lakewood

Ranch, compared to 31 sales in the first quarter of

2010. That’s an increase of over 245%! “The sales

activity is incredible right now in Lakewood

Ranch,” said Jimmy Stewart, LWR Communities’

director of sales. “Ten of our home buyers this

quarter first came looking at Lakewood Ranch

back in 2007—they have been in the market for a

few years and have realized, like so many other

savvy consumers that now is the time to buy.”

With 40 new home models to see in Lakewood

Ranch and 130 homes currently under construction,

walk-in traffic to our information centers and models

is up dramatically as well. In the first quarter

more than 5,300 people visited our models and

information centers, compared to just over 3,500

last year. “We have so much for people to see here,”

said Milt Flinn, LWR Communities’ president,

“We just completed construction on our new

residents’ club in Country Club East, and there

are so many new models. There is nothing else

like Lakewood Ranch in the entire state of Florida.”

A grand opening celebration for the new residents’

club is in the works for Memorial Day weekend

and there are two new models now open in

Secret Harbor, in Country Club East. John Cannon

Homes is the first of several builders to start a

new model in the newest section of The Lake Club,

called The Vineyards, aiming for a November

completion date to tie in with Tour of Homes.

New homes with home site start from the $150s.

Models are open daily and free tours of the Ranch

are always available! Call 941.907.6000 for more

information or go to www.lakewoodranch.com.

L E T T E R F R O MCandice McElyea, Director of Marketing and Public Relations

Spring has sprung here

in Lakewood Ranch!

With more than 100

new homes sales in

the first quarter of this

year, traffic to our

models has picked up dramatically

and this is the perfect time of year

to plan a tour of beautiful Lakewood

Ranch. To stay informed of all of

the great things happening on the

ranch, check out all of our social

media sites listed below—you

might even spot yourself or your

friends and family!

“Like” Lakewood Ranch:

www.facebook.com/LakewoodRanch

Become a fan of our Main Street:

www.facebook.com/Lake

woodRanchMainSt

Join our newest facebook page for

the Premier Sports Campus:

www.facebook.com/pages/

Premier-sports-campus-at-Lakewood-

Ranch/211681022175288

See the latest video diary of all of

the great things happening around

Lakewood Ranch:

www.thisweekinsarasota.com

Go to www.lakewoodranch.com or

call 941.907.6000 to learn more!

COMMERCIAL REAL ESTATE UPDATEnew businesses buzzCommercial Real Estate in

Lakewood Ranch continues to

show signs of success, with more

doors opening every day. A new

business is set to open soon on

Main Street in Lakewood Ranch.

Urban Accents, a modern home

accessories store is scheduled to

open this summer, one door down

from Chico’s.

The cooking school set to open on

Main Street will host an August

grand opening celebration, with a

soft opening planned possibly for

late July. Music on Main, the free

street party on the first Friday of

every month is attracting more

people than ever before. So far in

2011, more than $15,000 has been

raised for area charities at this

popular monthly event.

Land has been cleared and the

infrastructure is going in for LostCreek Apartments on Lakewood

Ranch Blvd north of State Road 70.

A temporary leasing office will be

on site this summer, with residents

being able to move in by the end of

this year. The clubhouse will be the

first building constructed on the site.

To find out more about commercialreal estate opportunities in Lakewood Ranch call 941.907.6677or go to www.lakewoodranchcom-mercialrealty.com.

NEW HOMESwith home siteFROM $150s*

*Prices subject to change without notice.

LWRC-198 SAR May_Layout 1 4/18/11 9:13 AM Page 1

iPr

oper

ty A

ppra

iser Recapturing the ‘Save Our Homes’ cap

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

By Bill Furst, GRI, CRS, CRBSarasota CountyProperty Appraiser

In November 1992,Florida voters amended the State Constitution, passing the Save Our Homes (SOH) Amendment. As with many amendments to the Constitution, the Florida Legislature then had to enact new laws to implement this voter approved initiative.

In 1994 the Legislature enacted §193.155, Florida Statutes, requiring that, as of 1995, increases in the assessed value of a homestead property may not exceed the lesser of 3% or the percentage change in the Consumer Price Index (CPI).

In October of 1995, the Department of Revenue (DOR) adopted rule 12D-8.0062, Florida Administrative Code, commonly referred to as The Recapture Rule. It requires the property appraiser to increase the assessed value of a homestead exempt property if the current year’s just value is greater than the assessed value of the prior year.

The increase can be no more than 3 percent or the change in the CPI and the assessed value cannot exceed the market value.

When the Recapture Rule was adopted, the Property Appraiser in Broward County challenged the mandatory increase in assessed value, claiming that a required increase was not the intent of the ballot initiative. The Division of Administrative Hearings upheld the validity of the DOR’s rule.

In the years when market values were increasing every year by more than 3%, homestead property owners enjoyed a capped increase in their assessed values and, depending on the year the exemption was first granted, some homesteaders accumulated a substantial capped value; the untaxed difference between the market value and assessed value of their homestead.

Since 1995 the SOH increase has been less than 3 percent for all but 5 years. As long as market values were increasing nobody paid much attention to the relatively small

increases in assessed value – after all, the value on which their home was taxed was less than the market value.

And then, in 2006, the bottom began to fall out of the real estate market – Southwest Florida and the Sarasota area were among the hardest hit by the downturn.

Market values plummeted and homesteaders began to wake up to the implications of the Recapture Rule. Many taxpayers were thrown for a loop when they received their annual TRIM Notice and found their home’s market value had gone down and their assessed value had gone up.

Since 2006 many homesteaders have experienced tax increases even though their market values have decreased. My office has spent a lot of time explaining that as long as the declining market value remains greater than the assessed value, the assessed value shall go up, allowing the taxing authorities to recapture the untaxed difference between market and assessed values.

Of course homesteaders are still taxed at a lower value than non-homesteaders for similar property, but it’s been a rude awakening for many people.

Since the bubble burst, homestead properties in Sarasota County with untaxed Save Our Homes value have dropped from a high of 89% of all homestead property to 37% for 2010.

As this article is being drafted the Legislature is in session, considering several bills that would alter the Recapture Rule to disallow increases in assessed value when market value declines. The State Revenue Estimating Conference reports that implementation of the proposed change would result in a first year statewide drop of between $176.6 million and $301.6 million dollars in local property tax revenue, depending on the year of implementation. The estimated long-term statewide revenue reductions run into the billions of dollars in local tax revenue. These changes would require approval from Florida voters – that’s you and me. We’ll keep you posted.

RECAPTURING THE Save Our Homes “CAP” In November 1992 Florida voters amended the State Constitution, passing the Save Our Homes (SOH) Amendment. As with many amendments to the Constitution, the Florida Legislature then had to enact new laws to implement this voter approved initiative. In 1994 the Legislature enacted §193.155, Florida Statutes, requiring that as of 1995, increases in the assessed value of a homestead property may not exceed the lesser of 3% or the percentage change in the Consumer Price Index (CPI). In October of 1995 the Department of Revenue (DOR) adopted rule 12D‐8.0062, Florida Administrative Code, commonly referred to as The Recapture Rule. It requires the property appraiser to increase the assessed value of a homestead exempt property if the current year’s just value is greater than the assessed value of the prior year. The increase can be no more than 3% or the change in the CPI and the assessed value cannot exceed the market value. When the Recapture Rule was adopted the Property Appraiser in Broward County challenged the mandatory increase in assessed value, claiming that a required increase was not the intent of the ballot initiative. The Division of Administrative Hearings upheld the validity of the DOR’s rule. In the years when market values were increasing every year by more than 3%, homestead property owners enjoyed a capped increase in their assessed values and, depending on the year the exemption was first granted, some homesteaders accumulated a substantial capped value; the untaxed difference between the market value and assessed value of their homestead. Since 1995 the SOH increase has been less than 3% for all but 5 years. As long as market values were increasing nobody paid much attention to the relatively small increases in assessed value – after all the value on which their homes was taxed was less than the market value. And then, in 2006, the bottom began to fall out of the real estate market – Southwest Florida and the Sarasota area were among the hardest hit by the downturn. Market values plummeted and homesteaders began to wake up to the implications of the Recapture Rule. Many taxpayers were thrown for a loop when they received their annual TRIM Notice and found their home’s market value had gone down and their assessed value had gone up. Since 2006 many homesteaders have experienced tax increases even though their market values have decreased. My office has spent a lot of time explaining that as long as the declining market value remains greater than the assessed value, the assessed value shall go up, allowing the taxing authorities to recapture the untaxed difference between market and assessed values. Of course homesteaders are still taxed at a lower value than non‐homesteaders for similar property, but it’s been a rude awakening for many people. Since the bubble burst, homestead properties in Sarasota County with untaxed Save Our Homes value have dropped from a high of 89% of all homestead property to 37% for 2010. As this article is being drafted the Legislature is in session, considering several bills that would alter the Recapture Rule to disallow increases in assessed value when market value declines. The State Revenue Estimating Conference reports that implementation of the proposed change would result in a first year statewide drop of between $176.6 million and $301.6 million dollars in local property tax revenue depending on the year of implementation. The estimated long‐term statewide revenue reductions run into the billions of dollars in local tax revenue. These changes would require approval from Florida voters – that’s you and me. We’ll keep you posted.

Constitutional Articles, Statutes, Rules and Orders pertaining to “SAVE OUR HOMES” and the “RECAPTURE PROVISION Section 4, Article VII Constitution of the State of Florida: Limits the amount a homestead’s assessed value can increase to no more than 3% or the increase in the Consumer Price Index. §193.155 Florida Statutes The assessed value of homestead property cannot increase more than 3% or the change in the Consumer Price Index, whichever is lower. Rule 12D‐8.0062 Florida Administrative Code: (4) The assessed value of each individual homestead shall change annually, but shall not exceed just value. (emphasis added) (5) Where the current year just value of an individual property exceeds the assessed value, the property appraiser is required to increase the prior year’s assessed value by the lower of 3% or the percentage change in the Consumer Price Index, whichever is lower. (emphasis added) Markham v. Department of Revenue, Case No. 95‐1339RP: In 1995 the Broward County Property Appraiser challenged the validity of rule 12D‐8.0062. The Division of Administrative Hearings ordered that the rule was valid and consistent with the State Constitution.

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.


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

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

t

The bottom line about foreclosures and short sales in the Sarasota market is this - they aren’t going away any time soon, but their impact on the overall market health appears to be diminishing.

The percentage of distressed property sales dropped to 44.1 percent for the first quarter of 2011 in the Sarasota market. After reaching a high of over 50 percent in the second quarter of 2010, quarterly tabulations of distressed property sales have decreased in the Sarasota area or remained steady. In fact, March 2011 saw a sharp drop in the percentage of distressed property sales, which helped to spur large increases in the overall median sales prices for single family homes and condominiums (see article on Page 15).

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

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 close on many foreclosures for roughly a third of the price of normal arm’s length sales. Short sales are generally higher in price - typically only 50 percent of the asking price of traditional arm’s length sales, but usually with inherent upkeep issues.

For condos, the disparity in prices remains even greater between foreclosures and arm’s length sales. There are still clearly two distinct local real estate markets - one for distressed properties, and the other for non-distressed properties.

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 properties at lower initial cost.

SAR publishes a full quarterly report on distressed property sales, complete with several pages of additional charts, on our web site (www.sarasotarealtors.com) and in the digital version of the monthly magazine (also posted on the front page of our web site, with a link e-mailed to SAR members during the last week of the prior month).

First Quarter 2011 Distressed Property Sales Report

Source: Sarasota Association of Realtors®

0

200

400

600

800

1000

2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

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


0

100

200

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2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

Condo Sales ‐ By Quarter REO Short Arm's Length


tProperty sales hit six-year high in March;prices rebound strongly in local market

Total property sales in the Sarasota real estate market hit 800 for the month of March 2011 – the highest level since September 2005 when sales started to decline. The other great news in March – prices rose in double digits for both single family homes and condos from the previous month, pending sales were the highest since the real estate boom ended in 2005, and the inventory dropped to 5,501 – less than a third of the available properties on the market during the boom.

“Sarasota is clearly a recovering market,” said SAR President Michael Bruno. “Agents are very busy showing properties and writing contracts, and people are excited about our strong market rebound. Obviously, we haven’t seen numbers like these in several years. There is a buzz in the local market that’s reaching out to buyers across the nation and even internationally.”

What makes the statistics even more positive is the fact that there is no federal homebuyer tax credit initiative fueling this surge. The tax credit drove up spring sales last year, but this year’s numbers are strong simply on the basis of the incredible quality and value evident in the local real estate market.

Single family home sales, at 580, were up 23 percent from

the previous month, and were 5 percent higher than last March, when the tax credit spurred sales to 555. Condo sales also climbed to 220 in March 2011, up 10 percent from February, and 11 percent higher than last year at this time. Median sales prices for both single family homes and condominiums shot up in March to $159,250 for single family homes and $173,000 for condos, representing a 16 percent and a 26 percent jump, respectively. One of the likely reasons – distressed property sales fell to 43 percent of the total, down from February when almost 47 percent of all sales were foreclosures or short sales.

In addition to the positive sales figures, pending sales also registered above the 1,200 level in March, hitting 1,208, the highest level in six years. This year, every month has seen more than 1,000 pending sales, or properties going under contract during the month. The statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity, which has been off the charts.

Last March, pending sales reached 1,060, but that figure was

pushed upward by the approaching April 2010 deadline for the homebuyer tax credits. This year’s upward trend is being fueled by buyers of all sorts – investors, second-home buyers, and those who realize that today’s lower home prices coupled with low interest rates present buyers with an opportunity not seen in years.

Another indication of the very positive atmosphere in the local real estate market was the Florida Realtors® Open House Weekend on March 26-27. More than 600 open houses were advertised over the weekend in the local market, and foot traffic was very heavy, according to agents who participated.

The drop to the lowest inventory level in six years (5,501) could mean additional upward pressure on sales prices moving forward.

The remaining months of inventory for single family homes, the time it would take to sell all currently available single family homes at the present rate, fell to 6.0 months from 8.0 months in February. This is traditionally a level which represents the cusp of a seller’s market, when buyers begin to compete for available properties and drive up prices. For condos, the remaining months of inventory dropped to 9.2 months from 10.4 months in February, also a healthy figure.

Only a short 26 months ago, in January 2009, there were 25.3 months of inventory for single family homes and 38.4 months of condo inventory. The market is considered to be in equilibrium between a buyers and sellers market once the figure reaches the 6 month level.

“Price appreciation normally follows a declining inventory and increased competition among buyers,” explained Bruno. “I’m still hopeful that this trend, which has been evident now for several months, continues into the summer months. Last year, we saw strong activity in April, May and June, probably connected to the federal tax credit. But there is evidence the trend will repeat this year after seeing the March sales and pending sales figures. I’m very encouraged by the numbers we’re observing, and even more encouraged by the positive word of mouth I’m hearing.”

“Agents are very busy showing properties and writing contracts, and people are excited about our

strong market rebound.”- SAR President Michael Bruno


Sarasota MLSSM Statistics - March 2011 Sarasota MLSSM Statistics - March 2011

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of April 11th, 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

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 2011 94.5 94.1 94.7 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

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 3,486 580 16.6 183 $159,250 $159,950 6.0 889 25.5 523 176

This Month Last Year

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

Last Month 3,782 471 12.5 178 $137,500 $160,000 8.0 735 19.4 647 123

YTD ‐ 1,451 ‐ 178 $145,133 ‐ ‐ 2,373 ‐ 1,896 ‐


$0

$50,000

$100,000

$150,000

$200,000

$250,000

Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10 Aug‐10 Sep‐10 Oct‐10 Nov‐10 Dec‐10 Jan‐11 Feb‐11 Mar‐11

Single Family

CondoMedian Sale Price


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Unit Sales Single FamilyCondo


Sarasota MLSSM Statistics - March 2011 Sarasota MLSSM Statistics - March 2011

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 2,015 220 10.9 195 $173,000 $160,000 9.2 319 15.8 280 212

This Month Last Year

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

Last Month 2,082 201 9.7 223 $137,500 $160,000 10.4 288 13.8 312 110

YTD ‐ 581 ‐ 206 $153,500 ‐ ‐ 871 ‐ 926 ‐

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

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 2011 93.4 91.2 92.2 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Sarasota Association of Realtors® MLS

0100200300400500600700800900

1000


Pending SalesSingle FamilyCondo


0

1,000

2,000

3,000

4,000

5,000


InventorySingle FamliyCondo


By Anthony HomerCID President

Commercial agents are breathing a little easier all around the country these days, as non-performing commercial loan numbers continue to drop.

Lenders were still stuck with $181 billion in distressed loans in February, according to Real Capital Analytics (RCA). But that’s down from $188 billion in September. Even as the distressed pipeline shows signs of slowing, vacancy rates are improving and investors show continued appetite for well positioned trophy properties.

Locally, multifamily opportunities are becoming increasingly rare and investors are looking once again to office and retail properties. In this sector, the top of the food chain continues to thrive, while the class B and class C types remain incredibly competitive.

According to lease stats tracked in MFCRE, most lease listings are being signed 37 percent below asking price. However, if leasing velocity continues to grow, we may see those numbers improving by the end of the year.

One more element which is breathing life into the commercial markets is your local banker! Banks which have remained healthy are now tentatively testing the waters for investment property. Lenders are getting creative and competitive, and in the end that benefits all of us.

Finally, with the specter of inflation hanging over every deal, commercial real estate begins looking like a safe harbor to counter Wal-Mart CEO Bill Simon’s warning that “inflation is going to be serious”.

Moody’s Economy.com predicts the Consumer Price Index, which counts food and energy prices, will rise at a relatively modest rate of approximately 2 percent per year in 2011 and 2012, up from 1.6 percent in 2010. Investment properties with long term leases including annual increases should prove attractive for investors looking to hedge against inflation.

As always, if you have questions, comments, or would

like to join the CID please feel free to contact me at [email protected].

We are always looking for members to contribute in our committees, so if you want to get involved just let us know.

CID

(Com

mer

cial

Inve

stm

ent D

ivis

ion)

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

Recovery continuing to pick up speed


Social Networking: Doing business has changed!By Brad LindbergCID President-Elect

The essence of the real estate business is the ability to socially interact and network within the community.

As long as there has been the industry of selling real estate, it has been relationship building that has fueled the next listing or buyer’s representative.

“Networking” required membership in the Chamber, the Rotary Club, Business Associations, the PTA and any other organization that got your name in front of the public. It was as time consuming as the time required to run your real estate business.

Marketing your business required erecting as many signs in the community as possible to expose your name and phone number, hoping that the phone would ring. Advertising in the newspaper and magazines was expensive but necessary if you were going to have any chance to get the edge on your competition.

Then one day, the technology of computers, cell phones and the Internet began to change the way information was communicated. Information was more accessible to the agent and the buyer. We entered into the age of the information superhighway and everyone wanted to get into the fast lane. The public began to be exposed to the information that only agents had exclusive rights to see.

This new technology is changing so rapidly that unless you are exposed to it every day, it will pass you by like a runaway train. Just when you think you have mastered the latest and greatest, they come out with something faster and more incredible. You either adapt or you will be left behind.

The millennial generation has embraced Facebook, Twitter, and You Tube as their “Social Networking” tools. It is instant information and immediate gratification from a response. It has revolutionized global friendships and moved nations. It brings families closer and has reunited old friendships.

It is the new venue to spread the word that “you” are the “one” that is best for what “they” need. Why? Because all of your friends are now globally linked to you for the first time.

Most buyers are very sophisticated and well informed. They use the new technology to their advantage and demand more of their agents.

Online shopping is decimating the classic department store. Unless we as an industry embrace the new technology and use it to our advantage, we will have to face the fact that we will be sitting by the phone waiting for buyers to see our signs and hope someone will call.

CID slates meetings for May 2011CID General Membership Meeting- Tuesday, May 17th, 8:30 a.m. – SAR AuditoriumCommercial Marketplace Sessions- Friday, May 6th, 9 a.m. – SAR Auditorium- Friday, May 13th, 9 a.m. – SAR Auditorium

- Friday, May 20th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL- Friday, May 27th, 9 a.m. – SAR Auditorium

SBA expands temporary commercial refinance programBeginning April 4, the U.S. Small Business Administration

(SBA) expanded its temporary 504 commercial real estate refinance program to assist more small business owners struggling to refinance commercial loans.

This new refinancing option was initially restricted to

small businesses with commercial real estate mortgages maturing by the end of 2012.

Now small businesses will be allowed to refinance certain owner-occupied commercial real estate loans maturing after Dec. 31, 2012


Educ

atio

n Pr

ogra

ms

Apple, Android, Tablet, PC - What’s it all mean?Title: SmartPhone & Tablet PC Overview-- Your Smartest Business (and Life) Plan Yet!Date: May 25, 10 a.m.Cost: FREE to SAR MembersInstructor: Alan McKee

Smartphones and Tablet PCs offer the features you need to manage the myriad details of your life, whether that includes scheduling business meetings, tracking your family’s schedule, reading email, or surfing the web. The line between business devices and the more consumer-oriented multimedia devices is becoming blurrier with every new smartphone that’s announced. Throw the Tablet PC into the equation, and you’ve got a recipe for the “Paralysis of Analysis”!

So the question is, do I need a smartphone or a Tablet PC, or BOTH? This session will help define the roles of each device, and help you to determine what’s best for you!

Devices to be reviewed will focus on Apple products; iPhone and iPad. Android products; Motorola and HTC phones, as well as tablets by various manufactures. We will also look at Blackberry phones and their new tablet. You can be sure that all of the latest and greatest

devices will be discussed, with many of them on display for you to see.

Your presenter will be Alan McKee, president of NetWurx Communications. Alan works with most of the major providers, so his knowledge is not limited to just one mobile provider. Alan consults with many real estate companies and agents so he is turned in to needs of the real estate community. Alan has been a favorite presenter at a number of SAR and MAR technology meetings. Sign up today as registration is limited.

Discover the 89 important differences!Title: 89 Differences: FAR-9 and FR/Bar-1 ContractsDate: Monday, May 23, 9 a.m. to 12:30 p.m.Cost: SAR Members: $10; Others, $20Instructor: David Clapp, GRI, CDPE, SFR

In June 2010 a new Florida Realtors®/FloridaBar-1 (FR/BAR) contract hit the market. Since that time more companies and individual agents have chosen this contract as their contract of choice.

Yet, others are still using the FAR-9 as their preferred contract. As a result, ALL AGENTS need to understand both contracts and know

how they will affect your Buyers and Sellers. Even though you may be using one of the two contracts most of the time, there is an excellent chance you will be involved in the negotiation of a sale that will involve the other contract, so you should be familiar with both to serve your clients better.

This class will not promote one contract over the other. Rather, it will focus on the 89 major differences between the two contracts.

We will use the FR/BAR-1 standard contract and from it discuss what terms are similar to the FAR-9 and what are the 89 major differences.

Also, we will look at the FR/BAR AS IS contract.

Your Instructor will be David Clapp. David has been in the real estate business full time for 33 years. He has been a real estate instructor for over 30 years, having personally taught more than 5,000 Agents, Brokers, and Managers in all aspects of the real estate business. David serves on two subcommittees at the Florida Realtors level, one pertaining to each of the contracts.

The first class in April was sold out—don’t miss this one! Comments from evaluations included, “Best Seminar ever!”

Title: How to Avoid Getting SuedDate: May 18, Noon to 1:30 p.m.Cost: Free to SAR Members

Join the Realtor®-Attorney Joint Committee for another in their series of noontime legal learning sessions. Speakers for this informative event will be:

Attorney, Steven R. Greenberg, Insurance Agent, Ron Reagan and Home Inspector, Brian McCrone.

Some of the issues that will be covered (but by no means all!) include: Cash Offers When Financing is Required for Buyer, Florida Real Estate Industries Recovery Fund, Building Permit Issues, and more!

RAJC continues informative luncheon sessions in May


Earn NAR Designations in 2011 with local coursesGRI Course 2 - May 2-4 and May 10-11Cost - Realtors® $290

The designation is available only to members of NAR. Course carries 30 hours of Broker’s Post-License credit and 11 hours CE.Topics include: Tax; Technology Tools & Resources; Sales & Marketing; Personal Promotion; and Investments.GRI 3 - July 25-27 and Aug. 2-3Cost - Realtors® $265 to July 11; $290 after

This course carries 30 hours of Broker’s Post-License credit and 11 hours CE.Topics include: Appraising; Construction; Brokerage Management; Land, Environment & Private Property Rights; Property Management & Common Ownership; and International Real Estate.

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 Dague14 Hours CE - Aug. 9-10Cost - SAR Members, $79; Others, $99

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. Instructor: IFREC

SRES (Seniors Real Estate Specialist)- Oct. 11-12Cost - SAR Member, $199; Others, $229

Adults aged 50+ represent more than 20% 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

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My Florida Regional MLS and My Florida Commercial Real Estate fees have been posted to your MFRMLS account.

The fee to subscribe to MFRMLS for 2011-2012 will be $360 (June 1, 2011 to May 31, 2012). The fee to subscribe to MFCRE/Catylist for 2011-2012 will be $390 (June 1, 2011 to May 31, 2012).

MFRMLS has sent Email Invoices. All fees must be paid by 5 p.m. on May 16, 2011. To view and pay your MLS invoice, please log on to the MFRMLS website www.mfrmls.com and select “Pay Your Bill” .

Any questions concerning your invoice should be directed to MFRMLS/MFCRE at 1-800-686-7451.

My Florida Regional MLSand MFCRE feesdeadline May 16th

GRADUATE. REALTOR® INSTITUTE (GRI)

Carol H. White Sunset RealtyJames Vernon Buchanan James Buchanan Realty

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

who has successfully completed the National Association of Realtors designation Graduate, Realtor® Institute (GRI).

Virtual Campus Series: Mortgage fundamentalsTitle: FNMA “Fannie Mae” / FHLMC “Freddie Mac”Conventional Loans - Part of the Florida Realtors® Virtual Campus SeriesDate: May 25, 1 to 4 p.m.Cost: SAR Members: $103 hours Continuing EducationInstructor: Paul MarekPart of the Paul Marek Fundamentals of Mortgage Finance Series

Something new! Come to the SAR Auditorium and hear top Florida speaker Paul Marey live via the internet from Florida Realtors HQ in Orlando. You will be able to see the instructor live on the big screen as well as follow along with the PowerPoint. The course will be administered otherwise just like a regular CE program with monitored attendance.

Find out how to be on a first name basis with Fannie Mae and Freddie Mac! Whether a Realtor ® is fairly new to the industry, or they have been around the block, this course will present the intricacies of FNMA “Fannie Mae” and FHLMC Freddie Mac Conventional Loans in a way that will help

Realtors® to understand everything from how a borrower can secure a solitary loan to both purchase and rehabilitate a home, to how credit scoring is used by today’s lenders.

Students will explore “Conforming” loans, “Non-Conforming” loans, and the functions behind each. It is essential for Realtors® to become close friends with Fannie and Freddie, and this course is the perfect introduction!

Title: What You Need to Know about HAFA & HAMPDate: June 8, 1 to 2 p.m.Instructor: Anne Weintraub, Esq., Band Weintraub P.L.Cost: Free to SAR Members, $10 others

Attorney Anne L. Weintraub, a shareholder attorney with Band Weintraub P.L. will present a one-hour overview of the Obama administration’s loan modification program (HAMP) and its short sale program (HAFA). Because these programs are a bit confusing, Anne has designed a simple outline tailored to Realtors® to clear up any confusion about the programs and illustrate how they can be used to assist the Realtor® and their customer with short tales Register now!

Loan modifications:How does it all work?


MLXchange helps your business run smootherPre-registration is required for all MLXchange ses at www.mfrmls.com. All classes arclase hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot! If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR).MLXchange BasicMay 2, May 16, 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 MLXchangeMay 2, May 16, 1:30 to 3:30 p.m.Mandatory class if you will be entering and updating your own listings. You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.- Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that have specific entries in the Rules and

Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listingsDesign Web Pages, Capture LeadsMay 10, 9 a.m. to NoonOne 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 templatesMLXchange AdvancedMay 10, 1:30 to 3:30 p.m.Take MLXchange to the next level! In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches.- Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant listings with lockbox access - Customizing columns, adding/removing fields, changing the column headers and changing the field sort

order- Edit favorite reports, personalize home page resource link, setting defaultsiMapp - Interactive Taxand Mailing LabelsMay 24, 9 a.m. to NoonIn this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area.- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones- Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches Creating a Professional CMAMay 24, 1:30 to 3:30 p.m.This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. - Create a new seller or buyer CMA - Importing subject property from MLS or tax search and entering additional information about the subject property - Adding MLS and tax comparables - Adjustments, pricing, net sheet, selecting pages, and viewing report - Edit and remove reports - Emailing, saving, and printing CMA - Customizing a personal CMA and setting it as the default


10 Top Tech Tools you can’t live withoutO

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Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

More than 150 Realtors® enjoyed the Affiliate’s Party on the Porch on April 12th at SAR.

Photos byJesse Sunday

and Ray Porter

Kim Vogel and Polly Stubblefield at the March 22nd Affiliate Business After Hours Networking event at The Loft Ristobar.

At top, Marlene and Sarah Lancaster are shown at the Affiliate’s Party on the Porch on April 12th at SAR. At left, Hylda Fenton is pictured at the first work day for the Habitat for Humanity rehabilitation project on Huffton Circle.

Having fun,giving back!


10 Top Tech Tools you can’t live withoutBy Michael RusserRealtor® Magazine Online

Don’t you wish you had a way to do so much more using so much less? Well, stop wishing, because here’s Mr. Internet’s Top 10 Tools that can make your business much easier and more profitable.

1. Say goodbye to password angstPassword Agent is a tool I’ve personally used for years that

lets you store the ID and password pairs for an unlimited number of online or offline services so you can have a different password for each service (highly recommended). Here are some of its time-saving benefits:

• Automated password generation: Password Agent can generate password of any level of complexity so you can be confident that they will never be broken. (Don’t worry; you’ll never have to remember them.)

• Automated password/ID field entry: Password Agent will automatically enter your login ID and password for any service or software you’ve saved.

• Instant open of online services: Password Agent also allows you to store the URL of any online service for which you’ve saved the password and ID. This allows you to go to that page instantly.

The folks who created Password Agent offer a free version (limited to 25 entries) or an unlimited, full version for about $25. The only password you’ll ever have to remember now is the master password to open Password Agent. The video mentioned above shows you a very clever trick to create an absolutely unbreakable master password that you will never forget.

2. Copy and paste without the garbageIf you’ve ever tried copying and pasting from a Microsoft

Office product (i.e., Word or Excel) into something that didn’t need or want all the formatting that usually comes with it, here’s a free and instant way to solve that problem forever. PureText is a free utility that allows you to paste copied text without any of the hidden formatting that often transfers during a normal copy and paste operation.

Once installed, it stays unobtrusively in your system tray. To use it to paste unformatted text, hold down the Win key (with the Windows logo) and press V; you’ll be pasting pure text.

3. No more Post-itsPost-its are one of the world’s greatest inventions, until

your desk is covered with them. Here are a couple of ways to eliminate these intrusive yellow scraps yet still never lose a thought or idea again:

• EverNote: This free online service provides a way to save, organize, and retrieve all of your “notes” (on ideas, random thoughts, Web pages, media, etc.) from one convenient location. Since it’s online, you can access your notes from

anywhere.• Microsoft OneNote: This is a much more powerful and

full-featured way to record and organize nearly any kind of information. While it isn’t free (it’s part of the latest Microsoft Office Professional software bundle), it is my note-keeping tool of preference, one I use every day to run my various businesses.

4. Screenshots on steroidsScreenshots can be used to help communicate, train, and

demonstrate. Although many tools perform this function, here are my two favorites:

• SnagIt: This is arguably the gold standard of screen-capture software. It is easy to use yet has an incredible array of features to capture just about anything on your computer, including videos.

• Jing: This is a free screen-capture utility from the same company (Techsmith) that makes SnagIt. The reason I like and use Jing often is that when I need to create a quick capture and send it to someone, it allows me to do that without even storing the captured image or video on my computer. Instead, it creates a link to an online server that stores the media, for which you only need to send the URL.

5. Brainstorm heavenOne of the most powerful idea creation strategies I’ve ever

learned is something called “bubble charting.” Think of bubble charting as a one-person brainstorming session. Now, you can use pencil and paper to do this just fine, or you can become even more effective with one of these tools:

• Lovely Charts: This affordable and elegant charting program has both an online and a downloadable version. In addition to standard types of charts, you can also use it for your brainstorm bubble charts.

• MindGenius: This is for hard-core mind mapping activities, and it’s my bubble-charting tool of choice. What I like most about it is that you can create and modify mind maps very quickly without thinking about the process of doing so. Note that this is a fairly expensive piece of software, priced at about $250.

6. Free virtual meetingsVirtual meeting services like GoToMeeting are a powerful

way to expand your scope of control and interaction with today’s online consumer. However, they are not inexpensive. Adobe ConnectNow, however, is a free, effective way to have up to two people in a virtual meeting with all the screen sharing and interaction tools you would want. Adobe ConnectNow is the Web conferencing part of Adobe’s Acrobat.com online productivity services. To use it, simply create a free trial account — which never expires — and you will have immediate rights to launch a Web conference for up

Continued on P. 29, See TECH TOOLS


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e SAR members improve our communityEditor’s Note: SAR’s Strategic Plan in 2011 calls for encouraging 1,000 or more association members to become involved in community volunteerism. In that spirit, SR Magazine published this monthly feature page - Making A Difference - which highlights our members’ contributions in the community. We’re looking for your feedback to keep the feature lively and informative. If you or someone you know (an SAR member) is involved in a charitable, community or civic-minded organization, or simply does individual acts of goodness or charity within the community, please let us know. Call or email Ray Porter at 328-1168 - email [email protected], and we could feature the story in a future issue of the magazine. And read the ‘Good Neighbors’ article on P. 27 for more inspiring stories.

Valerie Woodger: Like many of her fellow Realtors®, Valerie Woodger of Michael Saunders & Company volunteers her time in the community, making a difference in the lives of her fellow citizens.

Every Friday morning, Valerie assists at the Mothers Helping Mothers office, helping to distribute clothing, toys and household goods to needy families.

“Today’s economy has taken its toll on multitudes of families in the Sarasota/Bradenton area,” explained Valerie. “Mothers Helping Mothers (MHM) has brought help to many of these families through its program.”

Families visit MHM once every four months and may take 15 outfits per family free of charge. MHM

is a 26-year-old, not for profit organization registered with the State of Florida and designated as a 501(c)(3) charity. Last August, MHM opened its new facility at 5933 North Washington Blvd, just south of University Parkway.

For more information about Mothers Helping Mothers, or to get involved in this very worthwhile organization, visit www.mhmsarasota.com, or call them at 941-953-7572. Their office is located at 5933 N. Washington Blvd., Sarasota, FL 34243. They are open for donations and to serve clients on Tuesdays and Fridays from 9 to 11:30 a.m.

Ron Gordon: When in comes to our furry friends without a loving home, Ron Gordon of Xena Vallone Realty has a soft heart. In fact, he has put his heart on his sleeve for the past six years by staging the Ron Gordon Humane Society Golf Tournament to raise thousands of dollars to support the local organization.

The 7th Annual Ron Gordon Humane Society Golf Tournament is scheduled for Saturday, Sept. 24th, 2011 at Bent Tree Country Club. Ron is putting together a web site to promote the upcoming event, so watch for it online and through his Facebook page.

Ron Gordon can be reached at 941-266-0526 or [email protected] for more information about the tournament. The Humane Society web site is www.hssc.org, and their phone number is 941-955-4131.

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Valerie Woodger

The SAR Habitat for Humanity home rehabilitation project continued in April, and will likely run through July at 2478 Huffton Circle in Kensington Woods.

Two work dates have been held - April 9th, and April 23rd - and many more are planned. Watch for announcements in your emails and on the web site to see how you can volunteer!

The homeowner - Teresa Dixon (a school bus driver in Sarasota) and her teen children, Casey

and Joshua - are working side by side with SAR members and other Habitat volunteers to complete the home rehabilitation. Teresa and her family will then sign a Habitat zero-interest mortgage and assume ownership.

This is a great opportunity for SAR members to help Make A Difference! Sign up at www.sarasotahabitat.com

See all SAR volunteer activities at www.sarasotarealtors.com/volunteers

Ron Gordon

Habitat for Humanity project continues


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By Michael J. Belle, Esq.Realtor®-Attorney Joint Committee

While today’s market requires that we concentrate our dealings most heavily on a variety of issues surrounding short sale closings, issues dealing with cash closings are arising more often than in the past.

Despite their increasing prevalence, issues arising out of cash offers are not receiving the same attention in the public discourse. Cash closings are increasingly common with investment buyers.

It is imperative that a cash buyer and the effects of this transaction on the seller are very clearly and concisely explained to the seller and that they be fully informed of the provisions of the Residential Contract for Sale and Purchase and the associated Standards for Real Estate Transactions addressing cash offers.

Some sellers may have the opinion that a cash contract precludes a buyer from securing mortgage financing. This is not the case. A cash closing requires a buyer to close on the contract on the specified date and pursuant to its terms with no financing contingency regarding the buyers obligation to close. If the buyer so elects to secure mortgage financing during the period

between contract acceptance and the closing date, then the buyer is free to do so. The most recent FR/BAR contract takes into consideration these issues. The new form contract attempts to clarify the fact that a seller cannot prevent an appraiser, or other party associated with an inspection, access to the subject real property to conduct activities in furtherance of the buyer securing mortgage financing. Paragraph L of the Standards For Real Estate Transactions states that the “seller shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, including a walk-through (or follow-up walk-through if necessary) prior to closing.”

It is important that all sellers be aware that notwithstanding a cash offer, a buyer continues to have the right to have access to the property for appraisals, inspections and walk-throughs. This access extends to the buyer’s right to secure financing and the necessary access that this would require prior to closing.

A seller who denies access may be considered in default of the terms and conditions of the contract. While the issues surrounding access to a seller’s real property involved with a cash closing may seem remote, the issue and the clarity associated with it may prevent the default by a seller who remains uninformed.

Cash Closings: Impacts on mortgage-related inspections

NAR is accepting applications for the 12th annual Realtor® Magazine Good Neighbor Awards. The awards recognize Realtors® for their dedication to volunteer service.

Five winners will be announced in the November issue of the magazine. Each winner will be recognized at the 2011 Realtors® Conference & Expo in Anaheim, Calif., and receive a $10,000 grant for his or her charity. Winners will also receive travel expenses to the conference and national and local media exposure for their community cause. In addition to the winners, five honorable mentions will each receive a $2,500 grant.

“Realtors® play a significant role in our nation’s communities,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “The Good Neighbor Awards highlights NAR members who spend time and energy to help others. They also remind us that Realtors® not only help people purchase homes, but also they work to improve the quality of life in those homes.” Phipps was a Good Neighbor Award recipient in 2001 for his work with the Tomorrow Fund.

Last year’s winners contributed a combined total of nearly 8,000 hours to their causes and drew a standing ovation from more than 6,000 Realtors® and guests during the conference’s general session in New Orleans.

“Realtor® Magazine always looks forward to recognizing

Realtors® who volunteer in their communities,” said Editor in Chief Stacey Moncrieff. “The Good Neighbor Awards allow us to celebrate those members, as well as inspire others to help those in need.”

Previous Good Neighbor Award winners say their charities have benefited from the grant money and the increased public exposure.

“Winning the Good Neighbor Award benefitted our work in Zimbabwe in so many ways,” said 2010 Good Neighbor Award winner Keri Kidd Cannon. “The grant provided tremendous relief in a time when raising money can be a bit of a challenge. More importantly, we also received an outpouring of support from the Realtor®community.”

Good Neighbor Awards entries must be received by Friday, May 20, 2011. For more details and a nomination form, call 800/ 874-6500, visit www.REALTOR.org/gna, or see the March issue of Realtor® Magazine.

NAR to recognize, reward ‘Good Neighbors’“Realtor® Magazine always looks forward to recognizing Realtors® who volunteer in their

communities,” said Editor in Chief Stacey Moncrieff. “The Good Neighbor Awards allow

us to celebrate those members, as well as inspire others to help those in need.”


International Real Estate

International 102 course slated June 8Title: International 102Date: June 8, 9 a.m. to NoonSponsored by the SAR Global Business CouncilCost: Free to GBC members (RSVP to [email protected]); $10 others

Don’t miss this amazing panel of international real estate practitioners. Learn how to market globally to attract international buyers and network with international agents from these countries. Speakers for the International 102 course will be:

- Jacques Raymond, Director of Business Development, Keats, Connelly and Associates - Marketing to the Canadian Buyer

- Christel Silver, Broker/Owner, Silver International Realty, Inc., Certified International Property Specialist,

NAR Liaison to Germany- Patricia Tan, International Sales Director, Prudential

Palms Realty, International Division, NAR Liaison to the UK

- Zolt Szerencses, NAR Liaison to Hungary and Vice-Chair of FR Global Networking Forum

Carlos ThurdeKoos, CIPS, NAR Liaison, ArgentinaIf you have any interest in the growing international

real estate market, please consider joining the SAR Global Business Council - only $25 per year!

If you have any questions, please contact Kristin Triolo, Chair of the Global Business Council, at [email protected] or by telephone (941) 725-2486, or Catherine McCaskill at [email protected].

to two people at any time.7. Free heavy-duty file senderNeed to send dozens of files or large files easily and

at no cost? WeTransfer.com is an easy-to-use, large-capacity, free file-sending service. In fact, just recently one of my virtual assistants needed to send me a 1.25 GB (that’s gigabyte!) video file, which she did without a problem using this service. Watch the demonstration video to learn how you can use this service to enable your clients or prospects to send you large files without knowing anything about WeTransfer.

8. Free PDF-to-Word conversionHave you ever wanted to convert a PDF into a Word

document so you could make changes? If so, you probably have discovered that it isn’t a trivial exercise. Most PDF-to-Word conversion services do a poor job of maintaining layout, font styles, and so on. However, the free online service PDF to Word will take any PDF file and convert it to an editable Word document in no time at all. I’ve tried it with some pretty complicated flyers and forms, and it did an incredible job of keeping the layout and styles. One exception, though, is if your PDF copy is really just an image of text (that is, a scan). In that case, PDF to Word will treat it as an image and embed it into the resulting Word document.

9. Free file sharingDropBox is something that my business simply could

not do without. Think of this as a file folder that contains any number of any other files or folders and resides both on your computer and in the “cloud,” which you can share with any number of other people anywhere on the planet. It is a free collaboration tour de force that makes file sharing completely transparent. You really have to see

it in action in order to appreciate what it can do for you and your business.

10. Peace of MindDon’t play Russian roulette with your critical business

data. It’s not a matter of if but rather when your hard drive will fail. Carbonite, one of the best-known names in online backup services, is very reasonably priced. Once installed, it will automatically back up your data over the Web.

Tech Shopping Glossary3G/4G: High-speed mobile wireless

broadband networks. Compatible systems generally receive a fast Internet connection wherever the compatible cellular network service is available.

Apps: Software developed for a smartphone or tablet PC.

Operating systems: The platform that determines what software runs on a device. Well-known examples in the mobile computing space include Apple’s iOS, Google’s Android, and Windows 7.

Soft (or virtual) keyboard: A graphical keyboard on the screen.

Solid-state drive: A storage device without moving parts that stores data directly to memory chips. Advantages include faster data retrieval, quieter operation, lighter weight, and reduced battery power consumption.

Touch-screen interface: Refers to users’ control of a computer or tablet’s functions by touching the screen with their fingertips.

TECH TOOLSFrom Page 25


Mem

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hip

New

sDesignated Realtors®

Kay, Kimberly: A Step Above R. E. & Mgmt Inc.Mazzucca, Anthony: NAI ManasotaMcConnell, Oliver: McConnell and AssociatesMcDaniel, Richard: Exit King RealtyRoss, April: Talk Florida Real EstateSchwartz, Karen: Karen J Schwartz R.E. BrokerUlysse, Jean Marc: JM Ulysse Realty LLC

New MembersBaez, Johnny: Deluca Realty Inc.Blanco, Teresa: Century 21 AdvantageBudnik, Carol: Signature Sothebys Internat’lChen, Michael: Sandals Realty of SarasotaD’Agostino, Margaret: Coldwell Banker Res R EEberman, Paul: CareFree Realty Inc.Fulwider, Laura Chasey: Allison James Estates & HomesGrosso, Douglas: NAI ManasotaHall, Andi: Coldwell Banker Res R EHeers, Ryan: Michael Saunders & CompanyHomer, Coquina: Beachy PropertiesHunkapiller, C Nicole: Stateside International RealtyJones, Linda: Sarasota Premier PropertiesKeller, Eugenia: Sandals Realty of SarasotaKoelling, Ronnie: Sandals Realty of SarasotaKrutzig, Betsy: Keller Williams Lakewood RanchMcDonald, Daniel: Nextage Lighthouse RealtyMiranda, Vanessa: Neal Communities Realty Inc.Montgomery, Virginia: Neal Communities Realty Inc.Rees, Anna: Coldwell Banker Res R ERenick, Michael: Prudential Palms RealtyScharoun, Tammy: Blakeley & Associates RealtySilber, Geri: Keller Williams Lakewood RanchTebo, Patti: Nextage Lighthouse RealtyTeoh, Eric: Prudential Palms RealtyTripp, Gina: Tivoli Realty Inc.Verde, Cramer: Century 21 AdvantageWright, M. Peggy: Sandals Realty of Sarasota

Now With ...Acha, Jose: Realty Services Inc.Alston, Marilyn: Atchley International RealtyAmero, Albert: Key Solutions Real Estate GrpAnsilio, Sandi: Keller Williams Lakewood RanchAnzellini, Vincenzo: Keller Williams Lakewood RanchBeeler, Charles: Keller Williams Lakewood RanchBissat, Julie: Hook & Ladder Realty Inc.Bruce, Douglas: Realty Executives SolutionsBudnik, Carol: Signature Sothebys Internat’lCann, Joyce: Michael Saunders & CompanyCarr, Robert: Waterside Realty LLC

Clarke, Daniel: J Wood RealtyColeman, Deborah: Luxury Estates Intl R.E. & DevDean, Paige: Sandals Realty of SarasotaEly, Richard: Keller Williams Lakewood RanchEvans, Penny: London Bay Realty Inc.Fritsch, Andy: EXIT Creative RealtyFrostad, Alden: Sunshine M.I.N.Gerdes, Ronald: Keller Williams Lakewood RanchHamel, Louise: Michael Saunders & CompanyHarrington, Christopher: Premier Sotheby’s Intl. RealtyHeuer, J. Eric: Karen J Schwartz R.E. BrokerHolbrook, Rita: Michael Saunders & CompanyHornsby, Clifford: Michael Saunders & CompanyIvarsson, Cheri: Sandals Realty of SarasotaLippert, Sally: Nextage Lighthouse RealtyLuque Jr, Samuel: Cityscapes Int’l Realty GrpLyon, Patricia: Keller Williams Lakewood RanchLyon, Randolph: Keller Williams Lakewood RanchMacey Huddelson: Robin, Florida Gulfside PropertiesMakowski, Bryan: Keller Williams On The WaterMannina Kinney, Samie: Ken Brand Lic R E BrokerMartinez, Edward: Keller Williams On The WaterMaster, Mary: Gemini Associates Real EstateMazelin, Caroline: Michael Saunders & CompanyMcCarthy, Midge: Michael Saunders & CompanyMcDonald, Andrew: Signature Sothebys Internat’lMei, Barbara: Signature Sothebys Internat’lMorrissey, Ryan: RE/MAX Alliance GroupMurphy, Jay: Atchley International RealtyNorwine, Robert: Signature Sothebys Internat’lOlesen, Sarah: Michael Saunders & CompanyPerkowski, Walter: Sandals Realty of SarasotaPeterson, John: Florida Gulfside PropertiesProto, Joyce: Sandals Realty of SarasotaRapisardi, Nicholas: Karen J Schwartz R.E. BrokerRenda, Rosemarie: Lalande PropertiesRiley, Mark: Luxury Estates Intl R.E. & DevRothermel, David: Exit King RealtyRuiz del Vizo, Ricardo: Sperry Van Ness CommercialSchulz, Matthew: RealtyOne FloridaSindoris, Chris: Keller Williams On The WaterSomaroo, Muneram: Atchley International RealtySulzberger, Ludmilla: Wagner RealtyTaylor, Eric: Coldwell Banker Res R ETebo, Patti: Nextage Lighthouse RealtyTravers, William: Eslinger Realty Inc.Tsekhanovsky, Bronya: Top Realty Group of FloridaTurrentine, Judith: Atchley International RealtyUihlein, Brendra: Keller Williams Lakewood RanchWatermann, Monica: Eco International Real EstateWilkes, Kathy: Horizon Realty International

The Association is pleased to welcome new members!


New AffiliatesBee Ridge Lighting and Design3909 Bee Ridge RoadSarasota, FL 34233Phone Number: 941-922-2626Representative: Rob BarnardSpecialty: We are a design oriented lighting showroom located in Sarasota, Fl. with 28,000 sq. ft. of showroom. We offer high quality lighting from inexpensive and functional to high end luxury. Our mission is to build relationships through impeccable service and by offering stylish, high quality lighting options. No matter how you are involved in the building process we can help.Email: [email protected]

Commission Express8902 N Dale Mabry HwyTampa, FL 33614Phone Number: 813-712-3080Representative: Steve CohnSpecialty: Don’t wait until closing to get paid! Commission Express can convert your earned but unsettled commissions to CASH – usually within two days (often the same day). In addition to providing short term cash needs, commission advances are a viable method for maintaining steady, predictable cash flows for REALTORS®. Locally owned and operated, Commission Express makes the commission advance process your key to unlocking the power of cash flow.Email: [email protected]

First International Title3044 University ParkwaySarasota, FL 34243Phone Number: 941-893-6080Representative: Sherrie O’KeefeSpecialty: First International Title strives to provide a high quality closing experience throughout the Sarasota Area. We are a full service escrow and closing company specializing in a wide range of closings including: residential, commercial, refinance, reverse mortgages, construction, vacant land, short sale, and foreclosures. Our Mission Statement – Provide cutting edge Title and Closing Services with local expertise and a personal touch while supporting the communities we service. We welcome international investors and buyers. We provide closing services in English, Spanish, German and French.Email: [email protected]

Laurel Oak Country Club2700 Gary Player Blvd.Sarasota, FL 34240Phone Number: 941-378-3608Representative: Faust WertzSpecialty: Laurel Oak Country Club is a private, member-owned club located in Sarasota, Florida. Its outstanding facilities include two championship golf courses crafted by Gary Player. The older course has been recently redesigned by Rees Jones, the famed “U.S. Open Doctor”. The club’s other amenities include 12 Har Tru tennis courts, a full-size heated swimming pool and a beautiful, newly renovated 45,000 square foot clubhouse.Email: [email protected]

Lien Search ProP.O. Box 21644Sarasota, FL 34276Phone Number: 941-822-6111Representative: Patricia D MurphySpecialty: Pat Murphy is one of the best Short Sale Negotiators available. She is one of the most productive and successful negotiators in the Sarasota/Manatee market. Pat has negotiated many short sale transactions to a closing. We raise the bar for exemplary service. Give us a try. Lien Search Pro handles municipal property research for Title Companies, Real Estate Attorneys, Realtors, Buyers and Sellers. While our professional staff has over 20 years of experience in real estate transactions, our current real estate market knowledge is the most important. We constantly adapt to meet the changing needs of today.Email: [email protected]

ServiceMaster Clean6130 Uplands Blvd.Sarasota, FL 34243Phone Number: 941-377-2455Representative: Chris WhittakerSpecialty: Our mission is to provide superior 24 hour remediation for water/flood, fire/smoke, and mold damage. Our outstanding commercial and residential cleaning services will bring our customers piece of mind and true value for their money. We believe in conducting business with teamwork, trust, and a motivation to offer the best quality available in the industry.Email: [email protected]

SRQ Mediaworks2336 Cass StreetSarasota, FL 34231Phone Number: 813-504-2180Representative: Jonathan StewartSpecialty: SRQ Media Works is a Multimedia Advertising group that bridges the gap between still and motion, Creating Multimedia presentations for your advertising needs. Experts in Creating Multimedia Presentations for YOUR REALTOR® Advertising NeedsEmail: [email protected]

Wright Insurance & Financial Services1891 Porter Lake Drive #103Sarasota, FL 34230Phone Number: 941-371-6337Representative: Debra WrightSpecialty: Wright Insurance & Financial Services is committed to provide our customers with the best Service and Products available. Our Mission is to give you, the consumer, the best value using the highest rated companies in the market place. Providing superior customer service is our main goal for all your insurance needs including; Homeowners, Automobile, Condominium, Mobile Homes, Flood Insurance, Renters Insurance, Life Insurance, Annuities and Retirement Planning. Recently we have been able to save many of your neighbors “hundreds of dollars” through our vast selection of high rated companies. We promise we will not waste your time. All we ask is that you give us the opportunity to earn your business. Let Wright Insurance & Financial Services, Inc. be the “Wright’ decision for you!Email: [email protected]


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Months of Inventory Single FamilyCondo

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New ListingsSingle Family

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Source: Sarasota Association of Realtors® MLS

Monday Tuesday Wednesday Thursday Friday

2 9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings 9 a.m.– 4 p.m. GRI 2

3 9 a.m.– 4 p.m. GRI 2

4 7:30 a.m. Toastmasters 9 a.m.– 4 p.m. GRI 2

5 8 a.m. Power Marketing (University Park CC)

6 9 a.m. CID Commercial Marketplace

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

10 9 a.m.– 4 p.m. GRI 2 9 a.m. Design Web Pages 1:30 p.m. Advanced MLX

11 9 a.m.– 4 p.m. GRI 2

12 8 a.m. Power Marketing (SAR) 10 a.m. to 1 p.m. GRI 2 EXAM


16 9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating Listings

17 8:30 a.m. CID General Membership

18 7:30 a.m. Toastmasters 12 p.m. How to Keep From Being Sued

19 8 a.m. Power Marketing (SAR)

20 9 a.m. CID Commercial Marketplace - Off Site

23 9 a.m. Contracts Comparison Seminar

24 9 a.m. iMAPP 1:30 p.m. Creating a CMA 5 to 7:30 p.m. Affiliate Networking

25 9 a.m. Smart Phone Seminar 1 p.m. FNM/FHLMC Seminar (Internet CE)

26 8 a.m. Power Marketing (SAR)


30 MEMORIAL DAY

SAR CLOSED

31

June 1 7:30 a.m. Toastmasters

2 8 a.m. Power Marketing (University Park CC)


MAY 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

0

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Days on Market Single Family

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2

4

6

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10

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Months of Inventory Single FamilyCondo

0

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New ListingsSingle Family

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Source: Sarasota Association of Realtors® MLS


$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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400

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2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

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


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2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

Condo Sales ‐ By Quarter REO Short Arm's Length


$0

$50,000

$100,000

$150,000

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2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

REO Short Arm's LengthSingle Family Median Sale Price


$0

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2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

REO Short Arm's LengthCondo Median Sale Price

First Quarter 2011 Report

* Homebuyer Tax Credit In Effect



0

100

200

300

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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 2011‐Q1

REO Sales ‐ By Quarter Single FamilyCondo


050

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2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

Short Sales ‐ By QuarterSingle Family

Condo


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1000

2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1

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 - may 2011

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