February 2006 - Realtor Association of Sarasota and Manatee

Transcription

Vote ‘Yes’
on March 14th!
See Page 10
Sarasota Realtor®
Volume 3, Issue 2
February 2006
Sarasota Association
of Realtors®, Inc.
3590 South Tuttle Avenue
Sarasota, Florida 34239
Phone: 941/923-2315
FAX: 941/923-0191
www.sarasotarealtors.com
Sarasota
R E A LTOR
M
Treasurer
Helen V. Sosso
Prudential Palms Realty
Immediate Past President
Judy Schomaker
RE/MAX Properties
Chief Executive Officer
Kathy Roberts
Mission Statement
The Sarasota Association of Realtors®, Inc., is
a professional trade association committed to
providing quality programs and services for its
members; enhancing the image of its members
in the community; upholding the Realtor®
Code of Ethics; planning for the future needs
of the organization; and to protecting private
property rights.
Sarasota Realtor® is published monthly by the
Sarasota Association of Realtors® Inc.
Editorial Staff
Director of MLS Information Systems
Jesse Sunday
Director of Professional Development
Catherine McCaskill
Production
Serbin Printing, Inc.
A
Z
I
N
February 2006
6
Volume 3
Issue 2
Expansion, cooperation
Steve Ross will lead the Commercial Investment Division of SAR through a
year of dynamic change and forward-thinking evolution in 2006.
9
Spain is calling
This April, the largest international second homes expo in the world will be
held in Madrid, Spain, and you’re invited! Read all about this fantastic real
estate opportunity and how it impacts our local market.
10
The future is now
What could be more important to our area than our children and their quality
of education? On March 14, we all have an opportunity to support and
enhance our local education system.
16
Sky is falling?
According to NAR research, the rising number of homes and condominiums
on the market doesn’t necessarily lead to a price crash. In fact, median home
prices nationally over the past four decades have never declined.
17
Commercial outlook strong
Florida Trend magazine has examined the Florida commercial real estate
market and forecasts a slowing trend, but continued strong growth across the
state in 2006.
24
Emerging markets explored
European real estate markets are examined and explained in an informative
seminar coming up on Feb. 22 at the Sarasota Association of Realtors office.
Sign up now!
In every issue
Editorial ideas and manuscripts are welcomed.
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.
10- Governmental Affairs Update
14- Jim Todora column
21- Ethics in Action
22- Sales & Listing Statistics
24- Education Programs
33- Rookie Corner
34- Realtor Etiquette
35- WCR News
36- Membership News
41- International Real Estate
44- Calendar of Events
2006 Copyright© by the Sarasota Association
of Realtors®, Inc. All rights reserved.
Reproduction in whole or in part without
written permission is prohibited.
DID YOU KNOW? In 1950, Florida ranked 20th among states in population. By the year 2003 – only 53
years later – the state had grown to 4th in population.
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.
E
Contents
Director of Communications
Ray Porter
Director of Member Services
Dan Andrews
G
“The official monthly magazine of the Sarasota Association of Realtors®”
2006 Officers
President
Felix Power
Coldwell Banker Residential R.E.
President-Elect
Joe Hembree
Hembree and Associates Inc.
Secretary
Kris Niehaus
Century 21 Advantage
A
ON THE COVER: Steve Ross is the new president of the Commercial Investment Division of the
Sarasota Association of Realtors. His vision for 2006 can be found beginning on P. 6.
Cover photography by Peter Barmonde, with DK Consulting Group, Inc.
®
Cover Story
CID eyes expansion, cooperation
under new president's leadership
Editor’s note: Steve Ross, newly installed President of the Commercial Investment Division of the Sarasota Association of Realtors for
2006, is a 30-year veteran of the commercial real estate brokerage scene in Sarasota and the surrounding area. Working out of Hembree
and Associates Inc., Steve is active in sales, leasing and consulting for office, retail and industrial properties.
t
This is the “New Sarasota”. Everywhere you look, change is occurring at a rapid
pace. Some who have been around are suffering from a bit of culture shock. Changes
in housing, commercial building and the way we do business have come about so fast
it’s hard to keep up with it all. The mere task of staying knowledgeable is becoming
a challenge.
All indicators show a continued strong economy
relating to a vibrant and expanding market within our
trade area. It is evident that we have an ongoing need for
office, retail, flex and industrial properties. Downtown
Sarasota, Lakewood Ranch, Manatee County and points
south are exploding, industrial land is disappearing and
redevelopment projects are popping up all over.
All indicators show a continued
strong economy relating to a
vibrant and expanding market
within our trade area.
with commercial property and include attorneys, bankers,
developers, property appraisers, environmental
engineers, property managers, and insurance
professionals. The knowledge and experience brought by
members to each meeting is invaluable.
Our organization has grown by leaps and bounds over
the last few years to nearly 300 members and for good
reason. One of the greatest attractions to our
organization is our speaker program held monthly at
our general membership meeting. These informative,
educational and entertaining programs lend insight
into the political, legal and economic trends affecting
our business.
One of the greatest attractions
to our organization is our
speaker program. These
informative, educational and
entertaining programs lend
insight into the political, legal,
and economic trends affecting
our business.
We must, as professionals our clients rely upon, be
prepared to serve that need. Those who are prepared will
enjoy the lion’s share of the business generated.
The Commercial Investment Division of the Sarasota
Association of Realtors operates on the principle that a
rising tide raises all ships. This organization and the
programs it offers are the most effective way to stay
informed, updated and aware of the current business
environment and how to work our specialty within it.
We aid our members in providing the best information
most efficiently to their clients. It is the best venue for
networking. Keep in mind that the CID is not just a
gathering of Realtors to share their listing information. A
large percentage of our most active attendees come in as
affiliate members. These business professionals also deal
6
February 2006
Upcoming speakers include Sarasota and Manatee
County officials, state of Florida Representatives, and a
nationally recognized economist. We are expanding our
programs to include the most informed individuals
available for updates on our surrounding areas of Venice,
Sarasota Realtor Magazine
North Port, Charlotte County to the South and
Bradenton/Palmetto to the North.
I look to include in our membership commercial
Realtors and affiliate business professionals in these
areas and encourage their active participation in our
meetings in order to give them and our core Sarasotabased members a better overall knowledge of our entire
trade area.
As a further incentive to “regionalize” the CID, we will
expand coverage of the marketing aspect through a new
commercial MLS system. This service will be specifically
and exclusively designed for our commercial business and
provide a platform for listing, packaging and sending
information internationally.
We are seeing increased interest and activity from
national commercial brokers. As companies and
businesses look for relocation opportunities we need to
both compete and cooperate with national brokers.
The new MLS will put us on par with them. The CID
will take the lead in the promotion and implementation
of this new system. The inclusion of our neighbors
to the north and south in the MLS system will benefit
all involved.
The “New Sarasota” continues to emerge in 2006, and
we all look forward to the positive constructive changes
that await us in the coming year.
Steve Ross
2006 CID President
CID to receive update on
The Plaza at Five Points,
Downtown Partnership
Ian Black Real Estate and the Commercial
Investment Division of SAR will co-host the
Tuesday, Feb. 21 general membership meeting, to
be held off-site at The Plaza at Five Points in
downtown Sarasota. The meeting will begin at 8
a.m. with a Continental breakfast on the 7th floor
of the Plaza building, and CID members,
prospective CID members and guests are invited
to attend.
Tony Souza, president of The Downtown
Partnership, will provide an update on what is
happening in downtown Sarasota. Attendees will
be able to tour the 7th floor where Ian Black,
chairman of the Downtown Partnership, has
23,000+- square feet of office space for lease. Ian
Black Real Estate is sponsoring the event.
February 2006
7
SIMA06 coming up in April
i
If you are a Realtor® who specializes in second homes and/or international real
estate, you have probably already heard of SIMA, the largest international second
homes expo in the world. This event has a three-year track record with NAR as a key
collaborating organization.
The feedback from members across the U.S. and
the world is that it was an excellent venue to do
business in the international second home market.
The information, education, contacts, and exhibits
have reportedly resulted in tangible and profitable
international business for international attendees,
including several visitors from Sarasota.
The SIMA06 expo is set for April 4-8 in Madrid,
Spain, and registration is now underway at a cost of
$480 through April 1, 2006.
This year, SIMA 2006 will once again fully
endorsed by the National Association of Realtors®
and its collaborating organizations to ensure that the
event is Realtor®-friendly, including:
- Education and seminars with relevant topics,
including international second home topics and
courses such as the transnational referrals
certification (TRC)
- Targeted networking via the Realtor®-sponsored
international business center (IBC), with
cocktails, meeting space, and country-specific
networking hours with the purpose of
networking and doing business.
- Fun! Above all, the event is designed with fun in
mind, with the purpose of creating camaraderie
and memories with your professional colleagues
that will lay the groundwork for future dealmaking across borders. This event is the perfect
venue to combine business and pleasure in 2006.
Why Madrid, Spain?
Spain, known as the “Florida of Europe”, is an
ideal laboratory to address the international second
homes market where over 100,000 second homes are
sold to foreigners annually to buyers from Europe,
North/South America and Africa/Middle East.
These international buyers and investors in Spain
may also be interested in second homes in the U.S. as
an alternative to Spain, where prices in dollar terms
are less expensive. Spain is one of the most visited
countries in the world, drawing visitors and real
estate buyers from across the globe. At the center of
Spain is Madrid, a truly international capital with
direct flights to dozens of cities in the U.S. and
Europe. The city is cosmopolitan, safe, and has a
truly European ambience with historical
neighborhoods on tree-lined cobblestone streets,
sidewalk cafes, and world-famous museums,
restaurants, and shopping. Make Madrid your base to
conduct other side trips in Europe.
Why SIMA?
SIMA is the largest international second homes
expo in the world, with more than 140,000 visitors
and 700 booths. Its visitors include more than 15,000
real estate professionals, with over 1,000 of these
professionals attending from over 40 countries
around the world.
You will need a full day just to walk the exhibition
trade show floor, where you can make contacts as
well as learn how Spain markets its second homes to
the world. The full professional program has
speakers from all over the world on topics relevant to
Realtors® with simultaneous translation available.
When you need to rest and relax, as a Realtor®
attendee you will have exclusive access to the
International Business Center (IBC) complete with
computers, meeting rooms, and a bar and sitting
area. Country networking hours and sponsored
cocktails at the IBC are designed to connect you with
the players internationally.
When the evening arrives, unique and fun social
activities are planned with networking and
camaraderie in mind. You are encouraged to bring
plenty of business cards and brochures; you will wish
you had brought more! For more information about
SIMA, visit the website.
Go to http://www.sima2006.org/ for
more information.
February 2006
9
Governmental Affairs
Adequate education funding is
a vital quality-of-life necessity
o
By Anne Merrill, Governmental Affairs Director
On March 14, 2006, voters will go to the polls to vote on whether to
extend the current one mill ad valorem tax increase which voters approved
in 2002. The extension would be in effect from 2006-2010, at the current rate
The Boards of Directors for both the Sarasota
Association of Realtors® and the Venice Area
Board of Realtors®, along with many other
business and civic organizations, have endorsed
the referendum. The Realtor® Boards are
also contributing RPAC issues funds to the
citizen-proponent group, Citizens for Better
Schools (CBS).
This issue is clearly one which will have an
impact on the quality of life in Sarasota County.
While there appears to be little opposition to
the measure, proponents are concerned about
low voter turnout for what is essentially a oneissue ballot.
Referendum funding is the only
local option for increasing
school funding, and the fact that
Sarasota County residents
agreed to tax themselves for
quality schools speak volumes
about the goals of the
community.
According to the Sarasota County School
Board, Sarasota County is the 139th largest
school district of 14,559 districts in the United
States. Growth is anticipated to be 900-1,600 new
students a year for the next four years.
ANNE
MERRILL
For more
information,
call Anne
Merrill at
941-544-4750
or by e-mail at
amerrill.amds@
comcast.net
10
February 2006
The state of Florida ranks 4th in student
population in the nation, yet only 42nd in perstudent spending - a sad commentary. Between
2000/2001 and 2004/05, the state’s base student
allocation to Sarasota County Public Schools
increased 7.4 percent, while the Consumer Price
Index increased 9.7 percent. The County’s base
student allocation is limited by state regulation;
in fact, as a rich county, Sarasota County actually
serves as a donor county to other poorer
counties. Referendum funding is the only local
option for increasing school funding, and the fact
that Sarasota County residents agreed to tax
themselves for quality schools speak volumes
about the goals of the community.
2002 referendum background
Prior to the 2002 school tax referendum, the
district had to cut more than $36 million from its
operating budget and had been suffering from a
negative public perception of its budget needs.
As a result of developing awareness of this
problem, the district incorporated a citizen
Financial Advisory Committee which assisted
with the task of informing the public about the
true state of the education budget. Further, with
the help of the newly-formed CBS, the district
was successfully able to educate the public on the
need for additional funding. The Financial
Advisory Committee continues today in an
oversight capacity to ensure that the district
spends its funds as promised (which, apparently,
it has).
The first two years after the passage of the
referendum, the district used the funds to
reinstate or maintain existing programs (such as
music, art and honors courses as well as technical
and dropout prevention programs), maintain
reasonable class sizes and prevent further cuts.
The third and fourth year of the referendum, the
district hired additional teachers to reduce class
sizes, added more guidance and mental health
professionals, and further enhanced programs
such as the arts, science, and drop-out prevention.
2006 referendum explained
The proposed 2006 referendum dollars will go
toward funding initiatives of the district’s NeXt
Generation Learning program, intended to
prepare today’s students to meet the needs of
employment markets, now as well as into the
future. It is described on the School Board
web site:
“It is a vision of education that adapts to
today’s reality and tomorrow’s needs. It
acknowledges changes in our economy, our
workplace and our world. It embraces the
next generation with its diverse
face, digital upbringing and
independent thinking. It treats
every child as an individual, every
educator as a professional and
every parent as a customer. It
requires total community support,
while holding the school district
accountable to taxpayers. It
represents a new direction, a new
hope, a commitment to the
success of every child and a
promising future for an effective,
efficient organization.”
The proposed 2006
referendum dollars will go
toward funding initiatives
of the district’s NeXt
Generation Learning
program, intended to
prepare today’s students
to meet the needs of
employment markets,
now as well as into
the future.
In addition to developing high goals,
the district proposes to meet those goals
by using the referendum dollars to
promote the following initiatives:
• Recruit and retain quality teachers
by paying competitive salaries.
The average teacher salary in the
U.S. is $46,752, compared to $44,860
in Sarasota.
• Close the achievement gap and
increase the number of minority
students in Honors and Advanced
Placement classes by 50 percent.
• Add safety measures at schools and
on school buses.
• Raise all children’s academic
achievement so 100 percent of our
regular schools will meet the federal
No Child Left Behind program.
• Keep relatively small class sizes
in all courses.
• Provide every classroom with equal
state-of-the-art technology.
• Extend the school day by 30 minutes
so each child has an equivalent of
15 more days of instruction.
• Maintain quality programs in art,
music, physical education,
Honors and exceptional student
education, and expand the
International Baccalaureate
program to elementary and
middle school students.
• Continue summer school options.
• Double the number of high school
career and technical offerings
so students graduate with 21st
century skills.
• Create a new career/technical
high school with two campuses,
offering a special certificate for
those completing a technical
training program.
• All high school students will
be enrolled in small learning
communities in which students
will have rigorous and relevant
experiences around their
career interest.
• All 9th grade students will develop
an education plan that includes a
career pathway they can follow
from high school through postsecondary education.
• All schools will add an online
portion to their website to enable
parents to keep better informed
about their children’s education,
including attendance, discipline
and achievement.
• Build and equip quality schools
and accommodate student
population growth.
For further information, go to the
Sarasota County School Board website
(www.sarasota.k12.fl.us) and click on
the links for NeXt Generation Learning
and Referendum. And, your Board
encourages you to mark the date
(March 14th) on your calendar, educate
your friends and associates, and vote.
February 2006
11
NAR launches mortgage interest
deduction ad campaign
t
The National Association of Realtors®
launched an advertising campaign in
December that warns home values could
drop significantly if the recommendations
of a federal tax reform panel to drastically
reduce the mortgage interest deduction are
ever implemented.
“All homeowners will suffer if this policy is enacted,
whether they take advantage of the mortgage interest
deduction or not,” said NAR President Thomas M. Stevens,
senior vice president of NRT Inc., from Vienna, Va.
“Reducing the mortgage interest deduction would drive
down home values and have a devastating effect on the
housing market as well as the nation’s economy.”
The ad uses a picture of a typical house inside a pie chart
with 15 percent of the home sliced off in red to illustrate the
percentage loss to the homeowners if the mortgage interest
deduction were converted into a tax credit. “More than 1.2
million Realtors® urge the administration and Congress to
say ‘no’ to undermining this important incentive for
homeowners,” the print ad states.
A 15 percent drop in home values would translate to
about a $20,000 to $30,000 reduction in housing equity for a
typical homeowner. Eliminating the mortgage interest
deduction would hurt middle-income families the most.
According to IRS tax return data from 2003, more than half,
or 52 percent, of the families who claim the mortgage
interest deduction have household incomes between $60,000
and $200,000.
President Bush’s Advisory Panel on Federal Tax Reform
recently recommended that Congress convert the mortgage
interest deduction to a tax credit; repeal the deduction for
state and local states, including property taxes; and reduce
the $1 million cap on the size of the mortgage for which
interest could be deducted to the regional Federal Housing
Administration loan limits, which range from a little over
$170,000 to almost $470,000 in high-cost areas.
The tax panel also recommended eliminating the tax
deduction for second homes, which would impact at least 5
percent of the nation’s Gross Domestic Product. The
residential housing sector accounts for about 15 percent of
the nation’s GDP. Second homes accounted for 36 percent of
all home sales last year.
—NAR
To learn more about the mortgage interest deduction and
NAR's position, go to the Defending the Mortgage Interest
Deduction page at REALTOR.org.
12
January 2006
Property Appraiser
JIM
TODORA
How do condominiums fit
into the Sarasota market?
By Jim Todora, MAI, CAE
Sarasota Country Property Appraiser
i
It is probably to no one’s surprise that one of the most active areas of the
local real estate market has been with condominium properties. However,
when you look at how condominiums have impacted the assessment roll
there might be some surprises.
Currently there are more than 48,000
condominium parcels in Sarasota County.
About 10 percent, or 4,800, of those have
been added since 2000. The taxable value of
all condominium parcels for 2005 was over
$12 billion. By comparison in 2000,
condominium parcels totaled about $5.3
billion in taxable value.
Counting the number of condominiums
added to the tax roll each year can be a little
confusing, because smaller units are
sometimes combined into one making larger
single units. Occasionally, condominium
declarations are dissolved, changing the use
to something else. However, we typically see
about 800 new units completed each year.
While this $6.7 billion increase is
remarkable itself, what is even more
noteworthy is the contribution that
condominium properties make to the overall
tax roll. Back in 2000, condominiums
contributed 22.4 percent of the total tax roll.
In 2005 that figure grew to 25.6 percent. So
not only are we seeing rising condominium
values, their proportionate contribution are
also increasing.
From 2000 through 2002 the number of
apartments converted to condominiums
had been few. Over that three-year period,
we counted a total of about 150 units
converted. However, we estimated that
number jumped significantly in 2003 to 439
and to 939 in 2004. As of the close of 2005,
almost 1,500 units were recorded as
converting to condominiums.
Another event that we have been tracking
is the average market value of
condominiums. Back in 2000, the average
market value of a single family detached
house exceeded the average market value of
a condominium. However, that began to
change in 2002 and has continued through
2005. Below is a table that demonstrates
the comparison:
Whether all of these converted units sell
remains to be seen. We have, in the past,
seen apartment complexes convert, but have
difficulty finding buyers and then repurchase
those sold units and return the property to
traditional apartment use. It will be
interesting to follow the market this year.
Regardless, condominium properties
remain a favorite among many of our
homeowners and will likely continue to be in
strong demand.
Average Market Values
For more
information, call
the Property
Appraiser’s
office at
Year
Single Family
Condominiums
2000
$142,559
$139,582
941-861-8200
2001
$157,986
$152,057
or visit
www.sarasota
property.net
2002
$176,982
$192,931
2003
$206,474
$229,267
2004
$235,365
$255,200
2005
$271,017
$300,312
14
February 2006
NORTH PORT
1. Cedar Grove at The Woodlands
Single-family homes
Call (941) 423-5316.
From the low $300s
2. Cypress Falls at The Woodlands
Active adult community! Single-family
homes, paired villas, and garden villas
Call (941) 423-5316.
From the mid $200s
VENICE
CENTEX HOMES.
Get to
know us better.
3. Venetian Falls
Active adult community! Single-family,
paired villas, and garden villas
Call (941) 408-8291.
From the low $300s
SARASOTA
4. Parkridge
Terrace homes and town homes
Call (941) 360-6403.
From the mid $200s
From North Port to Bradenton,
5. The Enclave at Pinetree
Estate homes
Call (941) 342-8384.
From the high $400s
we’ve grown to seven communities.
No matter what type of home
you’re looking for, get to know us better.
You’ll be glad you did.
6. Stonehaven
Terrace homes and town homes
Call (941) 556-4060.
From the mid $200s
BRADENTON
7. The Reserve at Crossing Creek
Single-family homes
Call (941) 752-6645.
From the low $400s
Sales Centers Open Daily centexhomes.com
CTX Mortgage Company, Commerce Title Company and Centex
Insurance Agency are subsidiaries of Centex and offer homebuyers
NYSE
CTX
the ease of one-stop shopping. Broker participation welcome. Prices and
availability subject to change without notice. CGC1505726 and CRC058112
History indicates home price
crash isn’t in the cards
By Kevin Thorpe & Wannasiri Chompoopet
i
In November, housing inventory – the number of homes available for
sale – rose to its highest level since April 1986. Once again, the Chicken
Littles came out of the henhouse shouting the “sky is falling”. They suggest
that, with mortgage rates rising and demand slowing, a rise in inventory
will inevitably cause home prices to crash.
Yet, NAR reported that in November existinghome sales posted a 6.97 million unit seasonally
adjusted annualized sales rate – a higher sales
rate than the record home sales last year. And
home prices surged 13.2 percent.
The months’ supply of homes – a much more
relevant indicator of inventory conditions
because it factors in the sales rate – was at 5
months. That means that there is a 5-month
supply of existing homes available for sale at the
current sales rate. That is still a very lean market.
Generally, a 6-month supply of homes is
indicative of a “balanced” market.”
No helmet required
Well, for those waiting for the crash, you can
leave your protective headgear behind. Home
prices are not going to crash. It’s simply not in
the cards. In the 37 years since NAR began
tracking the price data, median home prices on a
national level have never declined. Even in April
1986, when inventory was 3.04 million units and
the months’ supply was 10.3, home prices did
not decline.
In fact, they rose 7.2 percent that month and
6.4 percent for the entire year of 1986. The latest
figures indicate that with the months’ supply at 5,
that is half of what it was in April 1986.
There are other reasons why prices won’t
crash. One of them is demand. Demand for
homes is double what it was in 1986. Another
reason: fundamentals. The U.S. economy is
fundamentally sound – jobs are being created,
interest rates are still low (and will remain under
7 percent), mortgage credit is readily available,
and homeownership has proven itself as a viable
investment alternative to stocks and bonds.
Since 2000, there have been $4 trillion dollars
in home equity gains. That is equivalent to
$70,000 per household, an exceptional return on
investment. For most homeowners, their home
has an additional benefit – it provides shelter for
them and their families.
Some changes ahead
The housing market is going through a
transition, shifting from a hot sellers market, as it
has been for several years now, to a morebalanced market. At the national level, we can
see that home sales are slowing, the monthsupply is rising, and as a result, balance is
returning to the market. As a result, we do expect
home prices to soften in the coming months. And
slowing sales are good for the long-term health of
the housing sector. So we should welcome a
moderate slowdown, not panic from it.
Regional and local trends
Real estate is a local business, so NAR
Research looked at some regional and local data.
Specifically, we examined month-supply and
home price data for 80 selected markets across
the country. We looked at the most recent data
available (third quarter 2005). From the data, we
can see the trends that we observed at the
national level also hold true at the local level.
That is, the month-supply is rising in most
markets, but overall, inventory is still quite lean.
Of the 80 markets studied, 75 had a monthsupply under 6.0. The other five were either at
6.0 or slightly above. This means that the
majority of markets are still lean.
It is also useful to look at the top 10 markets
by increase in month-supply from the third
quarter of 2004 to the third quarter of 2005.
Continued on page 42
16
February 2006
a
According to Florida Trend magazine, Florida’s commercial real estate
industry has seen a remarkable five-year run. Vacancy rates have decreased,
and sales and leasing activity achieved new record highs since 2001.
However, the magazine noted that 2005 may
have been the high water mark for commercial
markets, just as it likely was for residential real
estate. But even with a tempering of the boom,
2006 will likely be a very good year.
Owen Beitsch, executive vice president of Real
Estate Research Consultants in Orlando, told
Florida Trend he predicts “just a slower, more
modulated growth” – not a steep decline. The
overheated south Florida market could see a
faster drop in the red hot pace, while cities like
Jacksonville that are just now peaking could
remain in the boom phase for a longer period. In
addition, retail could see a more pronounced
slowdown in activity, while the industrial market
and other areas of commercial may remain hot.
Jeff Sweeney, managing partner at Grubb &
Ellis Commercial Florida, told Florida Trend he
projects much higher rental rates in 2006 for
office, retail and warehousing due to
construction costs and reduced inventory.
“With the Florida in-migration population
explosion expected to be 1.5 million people in
the next five years, tempered by the national
trade deficit and slightly rising interest rates, we
forecast a positive growth in all Florida markets
with housing and retail showing some cooling
from historic highs,” he told Florida Trend.
Asking Rental Rates:
Class A Office Space (per square foot)
• New York City - $57.49
• Washington, D.C. - $34.44
• Fairfield County, Conn. - $33.31
• San Diego - $32.91
Florida Markets (per square foot)
• Miami - $30.00
• Palm Beach County - $29.38
• Broward County - $25.20
• Orlando - $23.63
• Tampa Bay - $19.57
• Jacksonville - $18.96
Source: Grubb & Ellis (second quarter 2005 snapshot ranking of 69 cities around the U.S.
and Canada)
CID program schedule for 2006
The Commercial Investment Division of the Sarasota Association
of Realtors has started to plan and schedule programs for 2006.
Non-members may attend up to three CID general membership meetings
before joining. The meetings are held on the third Tuesday of each month
beginning at 8 a.m. at the SAR auditorium (unless otherwise specified).
Tuesday, Feb. 21 – Off site tour of the Plaza at Five Points in downtown
Sarasota. Ian Black Real Estate will sponsor the event and provide the tour.
Tuesday, March 21 – Sponsor: Sarasota Commercial Management
Tuesday, April 18 – Catylist Presentation (Commercial MLS)
Commercial Investment Division
Florida Trend reports
commercial sector outlook good
For more information on the CID, visit www.sarasotarealtors.com, or
email [email protected].
February 2006
17
Gubernatorial candidates
address Florida Realtors
t
The leading candidates for Florida governor squared off for the first time last month
at the Florida Association of Realtors'® (FAR) Mid-Winter Business meetings at the
Renaissance Orlando Resort near SeaWorld in Orlando.
Charlie Crist
An estimated 450 Realtors filled the
convention room to hear the candidates'
views on a range of real estate issues,
including property taxes, the rising cost
of insurance and the availability of
workforce housing in Florida.
Participating gubernatorial candidates
included Florida Chief Financial Officer
Tom Gallagher (R), Florida Attorney
General Charlie Crist (R), U.S. Rep. Jim
Davis (D-Tampa) and Florida Sen. Rod
Smith (D-Alachua).
"We will certainly support a strong
candidate who will help build a
better future for all Florida residents
and visitors,” says FAR President
Mike Dooley.
Jim Davis
Tom Gallagher
FAR has a strong interest in the
availability of workforce housing that is
also affordable for the state's teachers,
police officers, nurses, firefighters and
others in Florida who increasingly find it
difficult to purchase a home within the
communities in which they live and
work. When asked about workforce
housing, all candidates voiced their
support for the state’s affordable housing
trust funds - long a priority for the
Sarasota Association of Realtors, FAR
and Florida Realtors in general.
Gallagher: “The Legislature should
not take money out of the affordable
housing trust funds … I believe the
money should be used for what it was
intended when you (Realtors) helped to
establish the William E. Sadowski Act
and Florida’s affordable housing trust
funds.” Gallagher said he wants to use
state money to help fund model
programs creating workforce housing,
such as a Key West initiative currently
being tried.
Davis: “I helped create the Sadowski
trust fund with many of you in this room.
These politicians in Tallahassee have
helped take the trust out of the trust
funds … I think it’s wrong. I think it’s
time to stop playing games.”
Crist: “I will work to continue to make
sure that those (affordable housing trust)
funds are available to help fund
attainable housing in this state for … our
teachers, nurses, police officers and
many others in the workforce.”
Crist also emphasized the need to keep
taxes low to keep housing within reach
of Florida's workforce. He also said he
supports an initiative to allow
homeowners to keep their property tax
savings that result from the Save Our
Homes amendment in some cases when
they buy another Florida home.
Smith: “I guess I haven’t been a
politician very long, because I thought
that when people put money aside in a
trust fund for a special purpose, that’s
what the money should go for … I was in
Okeechobee recently and they told me
that they needed 36 teachers and they
signed ‘em up pretty quickly - but then
they lost about half of them when the
teachers found out that they couldn’t
afford housing near where they were
supposed to work. The state is going to
have to help make that happen."
As a group, Realtors actively
participate in the political process. The
audience listened intently to each
candidate's stance, and many times
applauded vigorously when a candidate
said he would protect the state's
affordable housing trust funds if elected
to office. - FAR
Rod Smith
18
February 2006
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Road impact fees will
skyrocket on Feb. 27
l
Local developers can expect a
hefty increase in road impact fees
beginning Feb. 27, which could
negatively impact the real estate
market, according to a report in
the local daily newspaper.
The Sarasota County Commission agreed last month to
raise road impact fees by 15 percen. The board also
approved a comprehensive plan study which will provide
details on how the new funds will be spent, and
determine whether funds for future road expansion
projects should be take from impact fees alone.
Most residents and county board members agree that
the county budget and plans are not adequate to pay for
the roads required to support up to 100,000 new homes
and the additional population that will bring over the
next 25 years.
According to the newspaper, Commissioner Jon
Thaxton said he just wants fairness and equality in the
taxes existing and future residents pay. He proposed
removing property taxes, gas taxes, telecommunication
taxes and other taxes from road expansion projects. This
would mean those projects would be funded solely by
impact fees, according to the newspaper article. And
Thaxton suggested using the money for other
infrastructure improvements, such as sidewalks,
expanding transit and other options.
20
February 2006
Thaxton argued that it wasn't his intention to end any
program, and he opted to reword his motion to have staff
do an impact study that would consider the actions he
suggested. Thaxton said the long-term planning for the
county projects project a need for about $1.8 billion in
new roads. Impact fees would only pay for about $300
million of that cost.
The impact fee increase to $2,874 for single-family
homes will go into effect Feb. 27, the article noted, but
any building permit application filed before that point
would pay the old rate. The original plan called for a
potential increase of 27 percent, but recent court cases
made that option unviable.
Jay Brady, executive director of the Gulf Coast
Builders Exchange, told the board any increase in the
impact fees is unfair. If the increase is going to happen,
he asked that the county opt for a lower increase of 13.2
percent, claiming the county was double-billing builders.
Commission Chair David Mills agreed with Brady's logic
and was the lone dissenter to the 15-percent increase, the
article noted.
Major social events to bolster SAR
Quarterly Membership meetings
t
Three exciting, entertaining and fun events are planned for 2006 by the
Social/Programs Committee of the Sarasota Association of Realtors to bring out the
masses for the SAR’s Quarterly Membership meetings.
The first big event is just around the corner. “Stop the
Music,” an evening of music, dancing and prizes, will be
held at the SAR main auditorium on Friday, March 24
from 7 to 11 p.m. Register now for the event, and grab a
sponsorship form at the SAR office.
Take a stroll down memory lane with a DJ playing hits
from the 50’s, 60’s, 70’s, 80’s and 90’s, and even some
contemporary tunes. Eat, drink and party with your
friends and fellow Realtors and Affiliates while winning
valuable prizes.
The cost is $19.99, and guests can also purchase tickets
through their Realtor!
Affiliate sponsorships and ticket registrations are now
available at the SAR office.
The second Quarterly Membership meeting will be
held on Wednesday, June 28 at noon and feature a
delicious Hawaiian luncheon, combined with a free,
informative talk by real estate expert Andy Gray. And on
Sept. 22, a New England Potluck Supper will be held.
Bring a dish from the great Northeast to share with your
fellow Realtors.
February 2006
21
Sales and Listings for December 2005
Sales Data*
Residential Sales Summary
December 1 to December 31, 2005
PRICE
SALES
3
4+
CONDO
2–
BDRMS BDRMS BDRMS CO-OP
SALES as of
Dec. 31 ’05
TOTAL
UNITS
$99,999 OR UNDER
4
0
0
1
5
$100,000-119,999
0
0
0
1
1
$120,000-139,999
0
2
0
3
5
$140,000-159,999
3
2
0
7
12
$160,000-179,999
2
0
0
12
14
$180,000-199,999
2
1
0
9
12
$200,000-249,999
13
10
2
27
52
$250,000-299,999
11
19
1
21
52
$300,000-399,999
18
46
7
36
107
$400,000-499,999
12
20
6
12
50
$500,000-749,999
5
33
10
66
114
$750,000-999,999
1
12
9
37
59
OVER $1,000,000
1
9
10
68
88
72
154
45
300
571
$307
$391
$595
$575
$482
**AVERAGE PRICE
$346
(in thousands)
$504
$787
$777
$643
**TOTALS
**MEDIAN PRICE
(in thousands)
December 2005
SARASOTA ONLY
Class
Sales Average Sale Price Median Sale Price Sold Volume
Residential 393
Condo
326
$469,541
$737,020
$365,000
$541,000
$184,529,726
$240,268,636
December 2004
Class
Sales Average Sale Price Median Sale Price Sold Volume
Residential 641
Condo
281
$392,856
$400,991
$293,000
$260,000
$251,821,283
$112,678,657
Listings Data*
December 2005
Class
New
Average List Price Median List Price Volume Listed
Residential 1189
Condo
656
$674,774
$549,113
$429,900
$399,250
$802,306,337
$360,218,777
December 2004
Class
New
Average List Price Median List Price Volume Listed
Residential 632
Condo
330
$633,728
$591,357
$345,450
$332,500
$400,516,141
$195,147,884
*Figures represent all listings reported in the Sarasota Association of Realtors
MLS. Figures include some Manatee, Englewood and Venice listings.
TOTAL DOLLAR VOLUME TOTAL DOLLAR VOLUME TOTAL HOME SALES
CONDOMINIUM
DOLLAR VALUE
SINGLE FAMILY
$138,051,000
$233,108,000
$371,159,000
December 2005
Average Sale Price/Units Sold /Days On Market
850-
Residential Sales Summary
800-
Year to Date
750-
January 1 to December 31, 2005
SALES
PRICE
2–
3
4+
CONDO
BDRMS BDRMS BDRMS CO-OP
SARASOTA ONLY
SALES as of
Dec. 30 ’05
TOTAL
UNITS
700-
600-
$99,999 OR UNDER
48
7
1
33
89
$100,000-119,999
21
11
3
49
84
650641
$120,000-139,999
42
28
4
93
167
550-
$140,000-159,999
50
49
5
143
247
500-
$160,000-179,999
75
58
7
197
337
$180,000-199,999
85
112
10
175
382
$200,000-249,999
243
375
45
500
1163
400-
$250,000-299,999
170
469
70
396
1105
350-
$300,000-399,999
313
714
157
431
1615
$400,000-499,999
119
417
196
260
992
300-
$500,000-749,999
89
460
304
486
1339
250-
$750,000-999,999
27
167
170
264
628
OVER $1,000,000
30
201
226
324
781
200-
**TOTALS
1312
3069
1198
3353
8932
150-
**MEDIAN PRICE
(in thousands)
$271
$354
$569
$318
$340
100-
**AVERAGE PRICE
$335
(in thousands)
$471
$815
$508
$510
$469,541
450$392,856
$737,020
393
$372,700
$337,576
326
$305,492
283
281
264
133
February 2006
110
108
92
100
Dec. *03
Dec. *04
Dec. *05
500-
TOTAL DOLLAR VOLUME TOTAL DOLLAR VOLUME TOTAL HOME SALES
SINGLE FAMILY
CONDOMINIUM
DOLLAR VALUE
$4,569,220,000
$1,703,629,000
$2,865,591,000
22
598
RESIDENTIAL
AVE. SALE PRICE
Dec. *03
Dec. *04
Dec. *05
CONDOMINIUM
UNITS SOLD
DAYS ON MARKET
These statistics were gathered from Sarasota Association of Realtors MLS on December 7, 2005.
Florida’s existing home median
price up 27 percent in December
Sale Price
vs.
List Price Rates
Percentage of list price units sold for…
Single Family
2004
2005
January
95.7%
96.9%
February
96.5%
97.5%
March
96.1%
97.9%
April
96.8%
97.8%
May
96.9%
97.5%
June
97.1%
97.6%
July
97.2%
97.4%
August
97.2%
97.6%
September
97.0%
97.2%
October
97.2%
97.0%
November
97.4%
97.04%
December
97.6%
96.77%
Condominium
2004
2005
January
96.5%
97.6%
February
96.2%
97.7%
March
96.1%
97.5%
April
96.6%
97.5%
May
96.8%
97.8%
June
96.6%
97.3%
July
96.8%
97.7%
August
97.4%
97.3%
September
97.2%
97.0%
October
97.7%
96.3%
November
97.7%
96.15%
December
97.0%
97.54%
t
The median price for existing
single-family homes in Florida
continued to rise in December,
reaching $247,000 - an increase
of 27 percent compared to the
statewide median price of
$194,000 in December 2004,
according to the Florida
Association of Realtors (FAR).
In December 2000, the
statewide median sales price
was $116,200, which is an
increase of 112.5 percent over
the five-year period, according
to FAR records. The median is
the midpoint, which is a typical
market price where half of the
homes sold for more and half
for less.
The national median sales
price for existing single-family
homes was $213,500 in
November, which was 13.5
percent higher than November
2004, according to the National
Association of Realtors. In
California, the statewide
median price in November
was$548,400; in Maryland, it
was $302,822; in New York, it
was $280,000; and in North
Carolina, the average resale
price was $215,160.
Statewide, a total of 17,505
homes sold last month
compared to 20,592 homes sold
in December 2004, for a drop in
the sales pace of 15 percent
during the holiday period.
Realtors across the state
reported that inventory levels
appear to be on the rise
following months of tight
supply in many markets.
The rate for a 30-year fixedrate mortgage averaged 6.27
percent last month, up from the
average rate of 5.75 percent in
December 2004. FAR’s sales
figures reflect closings, which
typically occur 30 to 90 days
after sales contracts are written.
Among Florida’s larger cities,
the Jacksonville metropolitan
statistical area (MSA) reported
gains in both sales and median
price in December compared to
the same month a year ago. A
total of 1,356 homes changed
hands last month compared to
1,261 homes sold last year for
an 8 percent increase. The
market's median sales price
rose 20 percent to $190,400; a
year ago, it was $158,900.
The Fort Myers-Cape Coral
MSA was another larger
market reporting strong sales in
December, with a total of 1,084
homes sold for a 24 percent
increase. The area's median
price rose 46 percent to
$322,300; a year ago it was
$221,200.
In Sarasota, the median
sales price for a single-family
home in December 2005
was $365,000, compared to
$293,000 in December
2004. The number of singlefamily homes sold in
December 2005 was 393,
compared to 641 in
December 2004.
As for the state’s smaller
markets, the Ocala MSA
reported a 4 percent increase in
the number of homes sold in
December, with a total of 559
homes sold compared to 540
homes sold during the same
time last year. The market's
median sales price rose 44
percent to $162,700; a year ago,
it was $113,300.
– FAR
February 2006
23
Education Programs
Learn about emerging
European real estate markets
t
The Sarasota Association of Realtors’ International Real Estate Council
cordially invites members of SAR and surrounding communities to a very
special presentation on Emerging European Real Estate, presented by
Daniel Smith, CIPS, who lives and works in Eastern Europe.
The event is slated for Wednesday, Feb. 22,
from 9 to 11 a.m. in the SAR main auditorium,
and is free to SAR members. Sponsors for the
event are Sarasota Mortgage Company, and
Andre K.R. Charbonneau, Esq., Icard,
Merrill, Cullis, Tim, Furen & Ginsburg, P.A.
risks. Out of the 27
countries, how do you
decide which has the
best real estate
investment
opportunities?
Daniel Smith works in the World Class
Office in Kiev, Ukraine. He has more than 30
years of experience in real estate, including
construction, commercial appraisal and real
estate sales. A Realtor and Certified
International Property Specialist (CIPS), Dan
has lived and worked in Eastern Europe for
over five years and is currently living in Kiev,
Ukraine where he is engaged in real estate. He
is an active member in CEREAN and the
Ukrainian Realtors Association (URA). He
has a degree in Dramatic Arts and Theology.
Daniel Smith has
studied these countries
from the inside out. He
will give you this inside
Daniel Smith
information on the top
countries to consider, what are the risks and
rewards, and when and how to get in.
What can you expect?
This workshop will include timely,
substantive, and provocative information on
such issues as:
• The hottest property types in central and
eastern Europe.
Dan has conducted numerous workshops on
topics ranging from energy conservation, to
passive solar construction, real estate
investment and Internet marketing. He has
completed transactions in 10 Eastern
European countries and is currently
establishing virtual and serviced offices in
Kiev, a market where the office vacancy rate is
less that 3 percent. He works with several
orphanages in Ukraine and is implementing a
work/study program for homeless and
orphaned children.
• The hottest markets where to invest
and when
• Trends: What’s new in Office, Residential,
Resort, Retail, and Their Prospects in
Emerging Europe
• Where investors are allocating funds and
what, if any, concerns they have regarding
the region.
• How to limit risk when investing in
emerging markets
About the Workshop
As global yields continue their decline, more
and more investors are seeking opportunities
in emerging markets. Competition in your
market is driving prices up and capitalization
rates down. Today’s investors are willing to
take on more risks for much smaller returns.
• Pioneer strategies that will assure you a
strategic position in an emerging market
This workshop is not a lofty theoretical
discussion. It is a down to earth, in the
trenches when, where and how to workshop,
bringing you and your clients opportunities
you’ve never dreamed of.
The European Bank for Reconstruction
Right now is the time to invest. Come and
(EBRD) has identified 27 countries in Eastern explore these hot markets with us. Registration
Europe as emerging markets. Each country
now at www.sarasotarealtors.com
has its advantages and each its own unique
24
February 2006
Core Law
• Wednesday, Feb. 8, 9 a.m. to Noon
• 3 “Core Law” Hours
• Richard T. Fryer, ABR, DREI, MBA
• Fee: $30
Core Law is the ultimate risk reduction seminar. Did you
know that when you take live classroom courses for your 14
hours of continuing education, six of those hours can be Core
Law? The catch is you have to take the 3-hour sessions in
different calendar years. So, if you took a 3-hour Core Law
class in 2005, have the certificate and need to renew your
license in 2006, you can repeat this class (which will be
updated for 2006) and have 6 hours towards your total of 14.
Popular instructor Dick Fryer will cover:
• Real estate license law update
• Brokerage relationships
• Escrow accounts and disciplinary action
• Other state and federal laws affecting real estate
• Trends, contracts and closings
• Fair housing and ADA
14 Hours of Continuing Education
• Feb. 28 & Mar. 1, 9 a.m. to 5 p.m.
• SAR Members: $79
• Instructor: Andy Gray
This session provides the full 14 hours of continuing
education and includes 3 hours of Core Law. For Core Law
only, see Feb. 8. Register online at
www.sarasotarealtors.com, “Education Registration.”
Resort & Second Home Market
(New NAR Designation)
• April 4 & 5
• Instructor: Claudia Deprez and JoAnne Leone
• Fee: $250
Successful resort and second-home specialists need to know
more than just how to sell the sizzle; they need extra
expertise and knowledge. This new two-day course first
focuses on the core essentials of assisting customers and
clients in tourist-driven areas and other second-home
markets.
RSPS certification will appeal to Realtors® in resort and
second-home markets around the world who wish to
distinguish themselves amongst their peers and amongst
consumers.
NAR currently defines a Realtor® specializing in resort and
second-home markets as “a real estate practitioner who
facilitates the buying, selling, or management of properties
for investment, development, retirement, or second homes in
a resort, recreational and/or vacation destination.” RSPS
certification is an education-based program with two core
courses and two electives required to earn the certification.
There are no experience requirements. For more
information about this new designation, go to
http://www.realtor.org/resorts/index.html
1st Annual Real Estate Law Summit
• May 3
• Michael’s On East
• Early bird registration fee: $70 (includes continental
breakfast, lunch, and course materials); after April
19, $89)
• Sponsors: SAR and the Sarasota County Bar Association
• Credits: 7 “specialty” hours of continuing education
credit will be applied for; attorney CLE credits will be
applied for
The Joint Realtor/Attorney Committee of the Sarasota
County Bar Association and the Sarasota Association of
Realtors have joined forces to present an all-day real
estate law summit.
Leading real estate attorneys have been selected to present
on all the topics which impact real estate transactions in
Florida and the Sarasota area, in particular. You will receive
the latest case law and contract updates; learn all you need to
know about homestead, condo and HOA issues, all about
flipping, who can sign in a real estate transaction, legal
ramifications of the new models of real estate practice, and
how hurricanes impact our local market.
To conclude, FAR Legal Counsel Randy Schwartz and
former Assistant Attorney General Jim Mitchell,
accompanied by FREC Commissioner Matey Veissi, will have
a lively discussion of all the latest FREC happenings and
rulings. Stay tuned for more details—but hold that date!
CIPS I: International Real Estate for
Local Markets
• April 11-12
• 8:00 a. m., Sign-in/Continental breakfast
• 8:30 a.m. - 5:00 p.m., Course
• Cost: $275 if received by March 28, 2006
$315 if received after March 28, 2006
*Fee includes all course materials, continental breakfasts
and snacks
• Instructor: Marcus A. Wally, MBA, CIPS, ABR
• 11 “specialty” credit hours
International Real Estate for Local Markets is the two-day
prerequisite introductory course to the CIPS international
real estate courses. The course is an analysis of the
international real estate business environment, including
capital flow, currencies, government regulations and cultures.
The practical aspects of international brokerage, networking,
marketing and selling are discussed.
Credits: Students will receive At Home with Diversity
Certification in addition to ABR, CRS and RSPS elective
credit with successful completion of this revised course; 11
hours Florida “specialty” continuing education credit
What is a CIPS?
A Certified International Property Specialist (CIPS)
is an individual who has proven expertise in
international real estate practice and has completed CIPS
program requirements.
Consumers benefit from the representation of professionals
who focus on ownership and transaction principals of
international real estate, including specifics on markets in
Europe, the Americas and Asia/Pacific.
Topics covered in CIPS classes include cultural diversities,
market data, investment trends, marketing strategies,
currency issues and financing. CIPS designees are increasingly
February 2006
25
Education Programs
relied upon by local community and business organizations including Chambers of Commerce and Associations of
Realtors® - as international resources. For more
information, go to
http://www.realtor.org/cipshome.nsf/pages/education.
Ongoing Free Technology Training from
SAR & FAR
• Basic MLS
Feb. 1 & 15, 9 a.m. to Noon and 1 to 4 p.m.
• Advanced MLS
Feb. 2 & 16, 9 a.m. to Noon and 1 to 4 p.m.
• iMapp
Feb. 20, 9:30 to 11 a.m.
• Florida Living Net & MLS Advantage
FAR Technology Trainer Charles Perry
Feb. 28, Mar. 28, 9 a.m. to Noon and 1 to 4 p.m.
(Hands-On, limit 9 registrants)
• Planet Realtor
FAR Technology Trainer Charles Perry
Feb. 27, Mar. 27, 1 to 4 p.m.
• Overview of Transaction Desk
Brad Neff, FAR
Feb. 15
Three sessions: 9 to 10:30 a.m.; 10:30 a.m. to Noon; and
1 to 2:30 p.m.
Go to sarasotarealtors.com, click on
“Education Registration.”
• Accelerated Conversational Spanish for Travelers
Instructor: Lisa Thole, The Spanish Connection
Traveling to a Spanish speaking county? Or want to
communicate more effectively with your Spanishspeaking customers? Experienced, dynamic instructor
Lisa Thole will teach a 10-week class designed to give
you enough Spanish to thrive on a trip to a Spanishspeaking country.
This class is perfect for SAR members who will be
traveling to Spain in April for the SIMA conference.
The class size will be limited to a maximum of 10
students. Sessions are one hour per week for 10 weeks.
Cost per student is $200 ($20 per session)
plus a $25 material fee, payable in advance. To
register, call Lisa Thole: cell 941-232-2246 or home
941-921-2517.
TransactionDesk on PlanetRealtor.com
Feb. 15, 9 a.m., 10:30 a.m., 1 p.m.
Brad Neff, Florida Association of Realtors
Yet another awesome benefit that comes along with your
membership dues, at no extra charge! Don’t miss the rollout
of this new feature of PlanetRealtor.com.
All aspects of a real estate transaction can now be
monitored and maintained in an easy to understand, easy to
use manner using the TransactionDesk.
The TransactionDesk service is a complete on-line real
estate transaction manager enabling real estate professionals
to manage virtually every aspect of a real estate transaction.
TransactionDesk users have the ability to create, monitor
and edit the tasks, events and contracts pertaining to each of
their transactions. The TransactionDesk service is fully
customizable to meet the unique needs of each individual
real estate professional.
The service is the only real estate transaction manager
with integrated interactive contracts and forms. It has
incorporated the industry leading on-line contract
management service Instanet Forms. The Instanet Forms
portion of the service enables TransactionDesk users to
create, auto-populate and maintain their Association/Board
contracts and forms from within the service.
Contracts and forms created within service can be digitally
signed, protected and verified using the US Postal Service's
Electronic Postmark® (USPS EPM®).
Choose your session and sign up online at
sarasotarealtors.com so we can better prepare for your
educational experience.
Congratulations!
CONGRATULATIONS!
Dedication and hard work pay off!! We congratulate our member who recently completed the requirements for the
National Association of Realtors designation and certificate programs:
Real Estate Buyer’s Agent Council
ACCREDITED BUYER REPRESENTATIVE (ABR)
Michele B. Lersch, Keller Williams Lakewood Ranch
Karen A. Rappaport, RE/MAX Properties
26
February 2006
Still waters run deep.
In Punta Gorda they’re infinite.
... immerse yourself at Vivante
Seemingly endless crystal blue waters embrace
the shoreline. And another perfect day begins. It’s
an unrivaled lifestyle that can only be Punta Gorda.
And here, in the heart of this tranquil coastal town, is
Vivante, a new residential community, featuring
spacious condominiums with three levels of luxury living
over a private garage, plus superb amenities that include
a grand Clubhouse with a resort-style pool and spa.
The beautiful neighborhoods of Bella Lago and Boca
Lago, offer magnificent harbor, lake and nature views.
Enjoy life as it was meant to be lived...at Vivante.
A place where you can get back in touch with yourself.
Where you’ll discover days to remember and the very
best of Gulf Coast living.
Luxury Residences from the $400s to over $1 Million.
VISIT OUR SALES CENTER
2950 West Marion Avenue, Punta Gorda, FL 33950
Tel: (941) 833- 8999 • Toll Free: 1-800 - 901- 0106
www.vivante-fl.com
I-75 to Exit 164, West 6 miles to Punta Gorda Isles.
Broker participation welcomed. Oral representations cannot be relied upon as
correctly stating the representations of the developer. For correct representations reference should be made to the documents required by section 718.503,
Florida Statutes, to be furnished by a developer to a buyer or lessee. Not an
offering where prohibited by state law. Prices subject to change without notice.
Photography in this ad may be stock photography used to depict the lifestyle to
be achieved rather than any that may exist.
LUXURY RESIDENCES
MLS FAQ
MLS areas now divided
into three zones
t
The level of marketing activity for local homes, condominiums and lots
has reached historic levels, and has resulted in a new, third MLS zone for
Thursday morning tours.
Here are the 2006 MLS zones. Pease verify
correct zones before scheduling your tour:
Zone 1 – MLS Areas 23, 24, 25, 26, 36, 44,
54, 64, 93 (North of University, East of 301
and East of I-75)
Zone 2 – MLS Areas 12, 13, 14, 21, 22, 31,
32, 33, 34, 35, 39, 41, 42, 43, 51, 52, 53, 72, 73
(University to Clark Road, West of 301 and
West of I-75)
Zone 3 – MLS Areas 61, 62, 63, 81, 82, 83,
84, 91, 92, 94, 101 (South of Clark Road,
West of I-75)
The MLS Power Sales and Marketing Meetings
are Thursdays from 8 to 9:45 a.m. at the SAR
Main Auditorium, with a Continental breakfast
sponsored by Affiliates on a rotating basis.
The morning tours are 10 a.m. to 1 p.m. Please
do not leave your open house early, and try to
provide food or snacks. Property flyers may be
placed on tables in the SAR lobby outside the
auditorium. Due to limited time, the moderator
will determine, other than pitching open
house listings, any additional topics that will
be addressed.
Property pitches are limited
To pitch your property, it must be listed in
Sarasota MLS, and the pitch is limited to 15
seconds. Describe the property, but please do no
repeat what is on the Hotsheet. You can re-pitch
after three months, or if the property has been
substantially altered (major renovation or
major price reduction) or if a purchase contract
was cancelled.
Organizing tours
There is no limit to the number of tours.
Organizing neighborhood tours is the
28
February 2006
responsibility of Realtors. Tour sheets to be
created by the organizing Realtor and must be
available by 8 a.m. on the table in the lobby.
Please provide 250+/- copies of Neighborhood
Tour Sheets for attending members.
How to enter listing
Do not enter listing more than six days prior to
the tour. Tours must be scheduled before noon
on Wednesdays. All scheduled listings are
printed on the MLS Marketing Hotsheet
available to attendees.
Login to www.sarasotaMLS.com and go to
BACK OFFICE and LISTING LOAD.
Highlight the desired listing and click on
BROKER TOUR action link. Complete all
fields and click SAVE. Check that your property
is on Tour. Go to TOURS/OPEN HOUSES and
click on BROKER/MLS TOUR. Enter the date
of tour, property category, and click on MLS link
to view scheduled tours.
How to delete a listing from tour
Follow directions for entering a listing. After
you enter the MLS number a message will
appear saying “that MLS number is already
entered, do you want to delete it?” Click on
DELETE. Be sure to check the TOURS/OPEN
HOUSES again to confirm that your listing was
deleted from Tour.
Parking is limited
Please park your vehicle at the SAR Building,
north or south parking lot. In the event the
parking lot is full, please park at the shopping
center along Tuttle Avenue. Do not park at the
Century Bank or in front of stores. Please do not
block other cars in the Association parking lot.
New ‘Homeownership for All’
license plate contest announced
t
The Florida Association of Realtors will pay $1,000 to the
designer of a new Florida license plate that celebrates home
ownership for all. Proceeds from the sale of these plates will
benefit Floridians who need help to realize the American Dream
of home ownership. The deadline is Monday, Feb. 20.
The license plate became a reality thanks to thousands
of FAR members who took part in a recent online survey
gauging support for the new plate. The Department of
Motor Vehicles verified all the survey names submitted,
and the Florida Legislature and Gov. Jeb Bush are
expected to ratify the plate.
The money raised through license plate sales will go
toward affordable housing programs in Florida. FAR
thanks everyone who supported the initiative on behalf of
those future housing recipients who need, and deserve, a
helping hand.
In addition to the $1,000 prize, the winning artist will
be featured in Florida Realtor Magazine, on the Planet
Realtor web site, in Sarasota Realtor Magazine, and also
be the subject of a press release.
Here’s a tip: The word Realtor® can not appear on the
plate. Florida state law prohibits it.
In order to be sure your design reaches FAR, we
suggest you either send a CD or flat art in regular mail.
E-mail attachments are not nearly as reliable.
Send your license plate creations to:
Florida Association of Realtors
7025 Augusta National Dr.
Orlando, FL 32822
Attention: Sev Scaglia
You do not have to submit final finished, full-color art.
If your design is a sketch and the judges like the idea,
you could be a winner. Remember, entries must reach
FAR by Feb. 20, 2006. FAR Officers have the final word
and select the winner.
Unpaid dues will result in
membership termination
a
All SAR members with unpaid dues will be terminated for non-payment after 5:01 pm
on Wednesday, Feb. 15. Reinstatement will require payment in full of all amounts due
at date of termination, as well as a $250 reinstatement fee.
A $50 late fee assessment and suspension of MLS
services resulted from all unpaid balances as of 5:01 pm
on Jan. 16, 2006.
Note to Brokers: Please check and make sure your
agents have paid their dues. If an agent is no longer
with your firm, please provide the Association with a
DBPR form 2050 showing termination of their license
with your firm.
The status of an agent/member’s account can
easily be checked by going to our web site
www.sarasotarealtors.com and accessing the Dues &
Account link. The member will either need his or her
member number (located in the top, right portion of the
SAR dues bill) or his or her FL license number
(dropping preceding alpha digits). Once a payment has
30
February 2006
been received in our office, it takes up to 72 hours to
reflect on the website.
Please encourage your Realtors® to use this resource so
that questions regarding payments are avoided.
Additionally, a Broker or Office Manager can check
the open status of any Realtor® associated with his or her
firm by using the Broker’s or Office Manager’s member
number or FL license number (dropping preceding alpha
digits) at the above-stated link. Click on the 5th option,
which reads: “Office Open Invoices”.
If you have any questions regarding the amount due on
a member’s account, please call the SAR Accounting
Department; if you have questions regarding a member’s
association with your firm, please call the SAR
Membership Department at 923-2315.
City of Sarasota provides
flood plain information
Current flood plain information may be obtained from
the City of Sarasota Building, Zoning and Code
Enforcement Department. They can provide the
following information:
• Community Number
• Panel Number
• FIRM Suffix
• Date of the FIRM’s Index
• The FIRM Zone (e.g. “A,” “C,” “V,” etc.)
• Base Flood Elevation (BFE)
Copies of Elevation Certificates for those structures
that have been required to provide them.
Federal law requires that a flood insurance policy be
obtained as a condition of a federally backed mortgage or
loan on properties in special flood hazard areas (SFHA).
There is a 30-day waiting period before a flood insurance
policy takes effect.
City of Sarasota officials are prepared to meet and
discuss any flood plain related questions or problems you
may encounter. You can reach the department by calling
954-4127 or by writing to: City of Sarasota, Attention:
Zoning Division, P.O. Box 1058, Sarasota, FL 34230-1058.
Realtor health
insurance effort
could produce
fruit this month
f
Federal lawmakers are maintaining the
momentum for passage of small business
health insurance legislation this year, which
could greatly benefit more than a million
practicing Realtors across the nation.
Although several major issues still need to be resolved,
talks have proven productive between congressional
representatives and the SBHP Coalition, represented by
the National Association of Realtors®, the National
Federation of Independent Business, and the Associated
Builders and Contractors.
NAR continues to meet with the Chairman's staff and
the offices of those Senators serving on the U.S. Senate
Health, Education, Labor and Pensions (HELP)
Committee. Consideration by the Committee could occur
as early as late January or early February 2006.
HELP Committee Chairman Mike Enzi (R-Wyo.)
continues work in preparation for committee
consideration of his Health Insurance Marketplace
Modernization and Affordability Act (S. 1955).
Cosponsored by Senators Ben Nelson (D-Neb.) and
Conrad Burns (R-Mont.), S. 1955 authorizes the creation
of fully insured small business health plans. In addition,
32
February 2006
the bill establishes a set of federal coverage mandates for
small group insurance plans and a process for harmonizing
the states' small group insurance regulations for both
SBHPs and traditional small group insurance products.
Since introduction of the bill in November, Senate
majority HELP staff have held a series of six half-day
meetings with the major stakeholder interest groups to
develop mutually agreeable compromises to provisions of
the bill that were identified by each group as being of
concern. The four stakeholder groups include the SBHP
Coalition, the National Association of Insurance
Commissioners, Blue Cross Blue Shield Association and
America's Health Insurance Plans association,
representing the nation's health insurers.
Passage of small business health insurance legislation is
one of NAR's major priorities on Capitol Hill this year.
- NAR
a
As a real estate professional, clients will expect you to be able provide
specifics about the neighborhoods they are considering. Neighborhood
knowledge also will be invaluable to you in developing your marketing and
prospecting strategies. Following are some helpful resources to help you learn
about different aspects of your market.
Your local chamber of commerce,
university, or newspaper is also valuable
information sources. You can use the data
you find to beef up your own area
knowledge, focus your marketing materials,
post on your Web site, or provide to your
clients as a way to establish your expertise.
Demographic information
• American FactFinder. When you want to
find authoritative demographic
information fast, use American
FactFinder, an interactive search engine
provided by the U.S. Census Bureau.
This resource can help you track down
local population, as well as housing,
industry, and business statistics for your
market area. Data is taken from the
Census 2000 and more recent surveys
and reports.
• ePodunk.com. Launched in 2000 by
former journalists, this site contains
profiles of more than 25,000
communities and every county in the
United States. Entries are extensive,
with specifics on history and geography
of the area; home prices; schools,
libraries, and other cultural amenities;
air quality; taxes; economic and
employment data; and much more.
• Sperling's BestPlaces. This site generates
rankings of places and people for major
publications. It offers city profiles and a
feature that allows users to compare any
two cities in the United States in
categories such as housing costs, crime,
economy, health, and education.
• National League of Cities. The oldest
and largest national organization
representing 18,000 cities, villages, and
towns throughout the United States, this
site offers research reports on cities that
focus on fiscal conditions and
demographic changes.
School information
• National Center for Education Statistics.
Part of the U.S. Department of
Education, this agency collects and
analyzes data related to education in the
United States and other countries. Use
the Search for Schools, Colleges, and
Libraries function to find detailed
information about any school in
the country.
Rookie Corner
Learn your neighborhoods
to ensure success
• SchoolMatters.com. Although the site’s
ultimate goal is to get more people
involved in improving public schools, it’s
full of rich information on how school
districts are performing all over the
country. It's run by Standard & Poor’s
and provides a wide array of academic,
spending, tax, and demographic data.
Architecture information
• Architecture Guide. This helpful guide at
REALTOR® Magazine Online provides
information, illustrations, and
photographs of the most common types
of home features and residential styles.
• Architecture Coach. This monthly
column at REALTOR® Magazine Online
provides practical tips and information
about how you can best use architecture
to sell your listings.
• About Architecture. This site provides a
solid foundation on which to build your
residential architecture knowledge. Part
of the About network of Web sites on
dozens of topics of interest, About
Architecture features House Styles, an
illustrated guide to the most popular
residential architecture styles and
features. Additional parts of the site
provide information on renovating
historical homes, home repairs, and
home maintenance.
February 2006
33
Realtor Etiquette
®
Rep. Davis: Realtors® a 'Cut
Above' everyone else
t
Realtors® compete toe-to-toe with other powerful groups in the national
political arena but their grassroots activism puts them a cut above
everyone else, Rep. Tom Davis (R-Va.) told Realtors® attending meetings
in Washington, D.C., last month.
“Your activism is a great asset that sets you apart
in this town,” said Davis, an ally of Realtors® on
crucial real estate and business issues, including
keeping banks out of real estate and allowing
small businesses to negotiate better health
insurance plans.
That strength makes Realtors® well positioned to
influence action on their legislative priorities this
year, he said.
Davis encouraged real estate professionals to
show their grassroots strength as Republicans
choose a replacement to head the pivotal House
Financial Services Committee when retiring Rep.
Michael Oxley (R-Ohio) steps down at the end of
this year. Oxley, a major supporter of banking
interests, backs efforts to allow national banking
conglomerates to own real estate brokerages and
management companies, a position at odds
with NAR.
“Realtors® can be active” in the choice of who
heads that important committee, said Davis. “You
can weigh in on that and help leaders select a
chair” that understands your side of the issue.
The chairmanship is integral to resolving the
issue because legislation allowing or prohibiting
banks in real estate passes through the Financial
Services Committee.
“It only takes a nod from the chairman” to get
the issue resolved, he said.
NAR would like to see the Community Choice
in Real Estate Act passed. The bill, which has
majority support in the House but has never
been brought to the floor for a vote, would
permanently ban banks from brokerage ownership
and property management.
Davis said several macro-economic issues,
including the federal deficit, have implications for
Realtors®. If the deficits stay high and foreign
investors start to lose confidence in the dollar,
interest rates will rise, hurting home sales. Some
deficit-cutting measures Congress passed at the
close of 2005 are a step in the right direction,
he said.
-By Robert Freedman for
REALTOR® Magazine Online
FAR supports changes to Save Our Homes portability
At the urging of Realtors® in markets experiencing
record home price appreciation rates (including Sarasota),
FAR’s Board of Directors agreed to support legislation
during the 2006 legislative session that would give
counties the option to allow property owners to carry
forward a portion of their Save Our Homes tax savings to
a newly-purchased home - under certain circumstances.
34
February 2006
These circumstances include if the owner buys a
replacement home in the same county; if the owner is
forced from his existing home as a result of eminent
domain; and when a home is significantly repaired or
rebuilt because of a natural disaster, which would trigger
a reassessment at current market values.
Women’s Council of
REALTORS
®
AMY WORTH
WCR promotes the
power of networking
t
The Women’s Council of Realtors is a network of successful, knowledgeable and
professional Realtors® and Affiliates helping each other to earn, learn and grow
together. WCR is a tremendous gift of value. We believe that when we leverage the
power of our network, we can attain our goals quickly.
The people who comprise our
organization make our network unique. We
ask our members for more than dues. We
ask them to give a part of themselves to
help others improve, knowing that the gift
will be returned. We are a group of powerful
professionals with common values who
come together to make great things happen.
I challenge each of you to take your
networking to the next level in 2006. Join
the Sarasota Chapter of the Women’s
Council of Realtors. Plug into our
network and take advantage of the power
of the mastermind.
With more than 280 Chapters and 17,000
members, WCR is the 17th largest U.S.
women’s professional organization and has
one of the most successful communication
networks in the National Association of
Realtors family. Membership includes
men and women who support the
objectives of WCR and are interested in
serving the industry, the community and
fellow Realtors.
UPCOMING WCR
EDUCATIONAL PROGRAMS
Feb. 10, 2006
“Taxing Your Home”
Speaker: Jim Todora
Venetian Golf & Country
Club - 11:30am
March 10, 2006
“Everything You Always
Wanted to Know About
1031 But Were Afraid
to Ask”
Speaker: Bruce Schnell
Lakewood Ranch Golf &
Country Club - 11:30am
Please contact Amy Worth for more
information at 928-5342 or
[email protected].
WCR Where It All Come Together!
February 2006
35
Membership News
36
February 2006
The Association is pleased to welcome these new members.
DESIGNATED REALTORS®
NOW WITH
Blaikie, B Michael, Reef Properties & Development
Broderick, L Brian, Biscayne Bay Realty Group
Davidovich, A Igor, Top Realty Group of Florida
Espinoza, Antonio Jose, Danto Realty Group Corp
Miley, Mary Evelyn, Opus One Realty Inc
Perry, Brian Gregory, Hook & Ladder Realty Inc
Rayle, S Wanda, Sterling Intl R E Services LLC
Swilley, M Regina, Swilley & Associates Realty
Travers, D William, Bright Red Realty Inc
Wilson, P Andrews, Wilson &Wilson Group Inc
Afflebach, C Beth, Michael Saunders & Company
Barde, P Scott, RE/MAX Premier Services
Bauer PA, Heinz, WEICHERT Realtors On the Circle
Bauman, P Lawrence, Lighthouse Realty
Bechtold, E Richard, Lakewood Ranch Realty
Bentivegna, A Carol, Prudential Palms Realty
Bezdek III, J Louis, Horizon Realty
Brink, D Mark, RE/MAX Gulfstream Realty
Bruce, R Douglas, Wedebrock Real Estate Co
Burnett, Carol, Horizon Realty
Campbell, J Christopher, Wedebrock Real Estate Co
Campbell, Courtney, Wedebrock Real Estate Co
Clark, E Carol, SKY Sotheby's Intl Realty
Clark, Paul, SKY Sotheby's Intl Realty
Colson, C Kevin, Homes & Dreams Realty Inc
Cornuke, L Paul, WEICHERT Realtors On the Circle
Craig, W Cody, Exit Realty Signature Prop
Davies PA, Gary, Realty Executives Solutions
Dickinson, A Joan, Michael Saunders & Company
Dunlop, L Milessa, Wedebrock Real Estate Co
Dunn, James Delancey, RE/MAX Premier Services
Dyer, T Scott, Hook & Ladder Realty Inc
Englander, A Carol, Siesta Tom Nay Real Estate
Flagg, A Gloria, Swilley & Associates Realty
Foster, S Stephen, Billib & Billib P A
Galer, I Lawrence, Horizon Realty
Gibson, J Fred, RE/MAX Properties
Gibson, Jo Ellen, RE/MAX Properties
Giles, A Michael, Wedebrock Real Estate Co
Granston, Jeff, Prudential Palms Realty
Harr, R Jan, Bay Vision Realty J Helmling
Hawkins, Monica, Wedebrock Real Estate Co
Hayes PA, Ronald, Wedebrock Real Estate Co
Hood, D Lyle, Wedebrock Real Estate Co
Howell, Bill, Hook & Ladder Realty Inc
Jurney, Ralph, RE/MAX Properties
Kelley-Hood, J LeAnna, Wedebrock Real Estate Co
La Villa, Patrick, Keller Williams Realty
Lamb, Ricky Lee, RE/MAX Suncoast Realty
Lee, E Kay, Dollar Realty & Mortgage
Lewis, L Tina, RE/MAX Premier Services
Liebenberg, Les, Horizon Realty
Luxembourg, M Joni, Horizon Realty
Meyer, A Bruce, Wedebrock Real Estate Co
Meyer, M Jenine, Wedebrock Real Estate Co
Migliore, Anthony, Coldwell Banker Commercial NRT
Neumann, J Joyce, RE/MAX Suncoast Realty
Oswald, W Miranda, Homes By Towne Realty Inc
Papazian, S Georgianna, Wedebrock Real Estate Co
Payton, L Sabrina, Keller Williams Lakewood Ranch
Putnam Jr, B David, Michael Saunders & Company
Ramaj, Pamela, Global Realty Marketing Inc
Regas, Lyn, Prudential Palms Realty
Richter, E Jerry, Lakewood Ranch Realty
Romano, D Michele, Keller Williams Platinum Rlty
Roslansky, Ryan, Michael Saunders & Company
Rugh, Debra Lee, Lifestyle Properties
Schemmel, Antonia, SKY Sotheby's Intl Realty
Schemmel, V Joel, SKY Sotheby's Intl Realty
Sholtis, S John, RE/MAX Properties
Silverberg, Gigi, Beckmann Properties
Solu, Mart, New Homes Now R E Corp
Vignocchi, S Marla, SKY Sotheby's Intl Realty
Vileno, A Pauline, Horizon Realty
Vollmer, A Helene, Sellstate Best Coast Realty
Wilson, Sandra Jo, Wedebrock Real Estate Co
Woodroof, B Charles, Coldwell Banker Res R E Inc
Zahn, J Thomas, RE/MAX Tropical Sands
REALTORS®
Baily, Branden, Sarasota Realty Inc
Baylis, Chris, Prudential Palms Realty
Bentley, Annette, SRQ Realty
Bowman, Robin, WEICHERT Realtors On the Circle
Boyd, J David, RE/MAX Gulfstream Realty
Bradshaw, Diana, Keller Williams Platinum Rlty
Britt, William, Capital Investment Realty Svcs
Carr, Maralyn, Prudential Palms Realty
Cassavechia, Carol, Coldwell Banker Res R E Inc
Cok, Michele, Prudential Palms Realty
Concannon, Dennis, Sun Coast Real Estate LC
Daily, Sarah, Michael Saunders & Company
Day, Cynthia, Broun & Company
DeLieto Jr PA, Leon, Michael Saunders & Company
Ettedgui, Bettina, Capital Properties & Services
Freed, Daniel, York Real Estate Inc
Freiwald, Kimberly, RE/MAX Properties
Gallagher, Diane, Prudential Palms Realty
Golden, Rachelle, Keller Williams Lakewood Ranch
Grens, Sharyn, Oaks Realty Inc
Grey, Phyllis, Coldwell Banker Res R E Inc
Gusto, Jeffrey, Sterling Intl R E Services LLC
Gusto, Renee, Sterling Intl R E Services LLC
Hannon, Megan, Exit Creative Realty
Hunt Jr, Butch, Sun Coast Real Estate LC
Isaac, Nader, Keller Williams Platinum Rlty
Jackson, Marie, Etta, Interinvestments Realty Inc
Johnson, Dana, Boyd Cowper Lic R E Broker
Juliano, Anne, Westcoast Realty of Florida
Kabinoff, Adam, Keller Williams Realty
Kastl, Nicholas, Michael Saunders & Company
Kennedy, Angela, Michael Saunders & Company
Kernytzkaya, Viktoriya, Keller Williams Platinum Rlty
LaFlamme, Alice, ResortQuest R E of SW Florida
Lane, Emily, RE/MAX Properties
Levin, Sue, Surfside Properties
Lupson, Jayne, WEICHERT Realtors On the Circle
Melton, Donna, Ken Brand Lic R E Broker
Mullen, Patrick, Prudential Cascade Realty
Partee, Candace, Exit Creative Realty
Patel, Narendra, Sun Coast Real Estate LC
Pelcher, Shelley, Exit Creative Realty
Reaves, Wendy, ERA Mount Vernon Realty Co Inc
Rymarenko, Anatoly, Keller Williams Realty
Saffold, Lisa, Hook & Ladder Realty Inc
Schau, Walter, Anchor Florida Realty LTD
Sherman PA, Enoch, RE/MAX Properties
Sommers, Adrienne, U S Realty & Associates
Sykora, Christine, Carefree Realty LLC
Tardif, AnneMarie, Michael Saunders & Company
Thomas, Robert, Prudential Cascade Realty
Traberman, Tama, WEICHERT Realtors On the Circle
Walters, Gregory, Vestor Realty LLC
Whitmer, William, Capital Properties & Services
Wolfe, Vianey, Coldwell Banker Res R E Inc.
NEW OFFICES
Michael B Blaikie
Reef Properties & Development
8213 Blaikie Court
Sarasota, FL 34240
Phone: 941-377-4430
Fax: 941-377-4429
BrokerCode: REEF
Type: Current Realtor® Status
Brian L Broderick
Biscayne Bay Realty Group
4000 Ponce de Leon Blvd
Coral Gables, FL 33146
Phone: 305-710-3211
Fax: 305-447-3778
BrokerCode: BBRG
Type: Secondary Membership
Igor A Davidovich
Top Realty Group of Florida
117 Shady Parkway
Sarasota, FL 34232
Phone: 941-685-5963
Fax: 941-341-0455
BrokerCode: TOPR
Jose Antonio Espinoza
Danto Realty Group Corp
1802 N University Dr Suite 300
Plantation, FL 33322
Phone: 954-423-8833
Fax: 954-423-6938
Broker Code: DANT
Type: Secondary Membership
Mary Evelyn Miley
Opus One Realty Inc
929 Casey Cove Drive
Nokomis, FL 34275
Phone: 941-488-4331
BrokerCode: OPUS
Gregory Brian Perry
Hook & Ladder Realty Inc
4017 Swift Road
Sarasota, FL 34231
Phone: 941-922-2440
Fax: 941-922-2441
BrokerCode: HOOK
Type: New Applicant to Association
Regina M Swilley
Swilley & Associates Realty
1415 Ranchero Drive
Sarasota, FL 34240
Phone: 941-504-0947
Fax: 941-378-5529
BrokerCode: RSAR
William D Travers
Bright Red Realty Inc
5306 Paylor Lane
Sarasota, FL 34240
Phone: 941-870-4889
Fax: 941-907-0017
BrokerCode: BRED
Wanda S Rayle
Sterling Intl R E Services LLC
950 S. Tamiami Trail Ste 2004
Sarasota, FL 34236
Phone: 941-364-5167
Fax: 941-364-5186
BrokerCode: SIRE
Andrew P Wilson
Wilson & Wilson Group Inc
4223 Alton Way
Sarasota, FL 34232
Phone: 941-809-3116
Fax: 941-375-2390
BrokerCode: WWGI
Type: New Applicant to Association
February 2006
37
r
Realtor® A had listed Seller S’s vintage home. Buyer B made a purchase offer
that was contingent on a home inspection. The home inspection disclosed that
the gas furnace was in need of replacement because unacceptable levels of
carbon monoxide were being emitted.
Based on the home inspector’s report, Buyer B
chose not to proceed with the purchase.
Realtor® A told Seller S that the condition of the
furnace and the risk that it posed to the home’s
inhabitants would need to be disclosed to other
potential purchasers. Seller S disagreed and
instructed Realtor® A not to say anything about
the furnace to other potential purchasers. Realtor®
A replied that was an instruction he could not
follow so Realtor® A and Seller S terminated the
listing agreement.
Three months later, Realtor® A noticed that Seller
S’s home was back on the market, this time listed
with Realtor® Z. His curiosity piqued, Realtor® A
phoned Realtor® Z and asked whether there was a
new furnace in the home. “Why no,” said Realtor®
Z. “Why do you ask?” Realtor® A told Realtor® Z
about the home inspector’s earlier findings and
suggested that Realtor® Z check with the seller to
see if repairs had been made.
When Realtor® Z raised the question with Seller
S, Seller S was irate. “That’s none of his business,”
said Seller S who became even angrier when
Realtor® Z advised him that potential purchasers
would have to be told about the condition of the
furnace since it posed a serious potential health risk.
Seller S filed an ethics complaint against Realtor®
A alleging that the physical condition of his property
was confidential; that Realtor® A had an ongoing
duty to respect confidential information gained in
the course of their relationship; and that Realtor® A
had breached Seller S’s confidence by sharing
information about the furnace with Realtor® Z.
The Hearing Panel disagreed with Seller S’s
contentions. It noted that while Realtors® do, in fact,
have an obligation to preserve confidential
information gained in the course of any relationship
with the client, Standard of Practice 1-9 specifically
provides that latent material defects are not
considered “confidential information” under the
Code of Ethics. Consequently, Realtor® A’s
disclosure did not violate Article 1 of the Code
of Ethics.
Case #1-25: Disclosure of Latent Defects
(Adopted November, 2000.)
-- submitted by the Grievance Committee
Ethics in Action
Disclosure of latent defects: was
confidentiality breached?
February 2006
39
NAR report details foreign investment
boom in U.S. real estate
o
Over the past decade, the U.S. real estate market has been the envy of other nations.
Both residential and commercial real estate markets have experienced solid growth,
reflecting a strong U.S. economy and consumer confidence.
Among the major players in U.S. real
estate investment are those from outside
the U.S. – foreign governments,
international banking institutions,
foreign company pension and equity
funds, and individuals. The ever-growing
global economy provides an environment
in which very few barriers exist for
foreign participants to expand their
involvement in both U.S. securities and
real estate markets.
This report looks at the impact of
private foreign investment on the U.S.
economy over the past year, and pays
particular attention to the impact on
commercial and residential real
estate markets.
It examines the level of foreign
investment in real estate companies
through 2004 (the latest year for which
data is available), and includes a
breakdown of that activity by country.
While information on foreign direct
investment in residential properties is not
available on a nationwide basis, this report
does summarize results of a recent survey
on foreign homebuyers in Florida, and
analyzes trends in foreign immigration to
the U.S., which may provide some insight
into foreign purchases of U.S. homes.
Go to www.sarasotarealtors.com and
click on the links for the complete NAR
reports on both the U.S. and Florida
foreign investment trends.
– NAR
40
February 2006
By Thomas C. Roberge, CPA, Sarasota and St. Petersburg
t
The start of the New Year marks the start of the
selling season. With that, we thought it would be a
good idea to review some of the points you should
be aware of when handling sales for foreign
investors who do not want to wait until well into
2007 to receive a refund for part or all of their 10%
IRS withholding tax.
A non-U.S. seller can apply for relief from the
10% withholding when the actual tax is less than
10% of the gross sales price. The benefit to the
seller in applying for relief is that it can get part
or all of the 10% to him or her in the shortest
amount of time.
The application must be filed between the time
the sales contract is signed and the date of the
closing. If the application is filed after the
closing date (even by one day), the entire 10%
must be remitted to the IRS and the seller must
wait until the following year to file an income tax
return for a refund.
When the application is timely filed, the 10%
is held in escrow until the IRS processes the
application and grants relief. At such time
part or all of the escrowed funds are remitted
to the seller.
International
REAL ESTATE
The sellers and buyers must have U.S. tax
identification numbers; otherwise, the IRS will
not accept and process the application. If
either the buyer or seller does not have one of
these numbers, our firm is an Acceptance
Agent for the IRS and has the ability to obtain
these numbers.
Each year our firm processes numerous
applications for relief from the 10% withholding
for non-U.S. sellers. The rules in this area are
detailed and specialized, and should only be
handled by someone experienced in dealing with
international tax matters before the IRS. Copyright, 2006,
Thomas C. Roberge & Company,
All Rights Reserved
SIMA offers networking
workshop April 4 in Madrid
International Real Estate
Guidelines for foreign sellers applying
for relief from 10 percent withholding
Editor’s Note: See related article, P. 9
If you are involved in an international local
council or just want to learn more about tapping
into NAR to do more international business,
then consider attending the Realtor Association
International Networking Workshop to be
held on the afternoon of April 4th 2006 in
Madrid, Spain.
involved with a sophisticated international local
council or are just looking to get started, you
will leave this session energized with dozens of
"take home" ideas! Enjoy camaraderie with your
NAR colleagues afterwards for a "tapas tour"
of Madrid.
In this dynamic and interactive seminar, you
will exchange information with Realtor
colleagues on how to enhance your international
programming at the local level. Whether you are
For full information on the Realtor Association
International Networking Workshop, visit
http://www.realtor.org/cipshome.NSF/pages/spain
2006intlnetwork.
THOMAS C.
ROBERGE
February 2006
41
Florida lawmakers formulate
'standard' homeowners' policy
Many Floridians found themselves underinsured in the
wake of the 2004 and 2005 hurricanes, so state lawmakers
created a committee and charged it with the task of creating
insurance reference tools for homeowners - a standard
homeowners insurance policy and an insurance checklist.
Advisory Committee. Comprised of 10 members, the
committee began its work in August 2005.
The Consumer Quick Check Guides and Checklist of
Coverage may be downloaded (PDF format) from the
State lawmakers gave the Florida Department of Financial Department of Financial Services (DFS) Web site at
Services the authority to appoint a Standard Personal Lines www.fldfs.com/StandardPersonalLinesAdvisoryCommittee.
History indicates
Continued from page 16
These would be the markets that some might consider as
potential “red flags” because of the run-up in inventory.
But the data does not support that notion whatsoever. In
fact, all of these markets posted healthy price gains in
2005Q3; indeed, more than half of them experienced
double-digit gains. Moreover, despite the rises in inventory,
the month-supply in these markets is still extremely lean
(below 6.0 in all cases).
Forty-six of the 80 markets we examined experienced an
increase in month-supply of homes in the third quarter of
2005. Interestingly, 33 markets actually saw a decrease in
month-supply. Even then, in the vast majority of these
markets home prices continued to rise, while only three had
slight price declines – Kankakee-Bradley IL (-0.3 percent),
Pittsfield MA (-0.1 percent), and Topeka KS (-1.3 percent).
Clearly, the declines were negligible, and could simply be
explained by quarter-to-quarter sample volatility.
The main point - don't panic!
So, even though inventory may rise, home prices are not
necessarily headed for a downturn. It is true that price
appreciation may slow due to a softening of demand because
of higher interest rates. But there will still be buyers out
there. The good news is that there will be an available
supply of homes for them to purchase.
Advertisers Index
The following businesses have placed advertising in Sarasota Realtor
Magazine. Please consider these companies when doing business.
Bert Rodgers Schools
of Real Estate ......................42
Opteum ..................................37
Centex Homes ........................15
Phillippi Landings ......................3
Dakkak Insurance ....................29
Ed Klopfer Schools
of Real Estate ......................43
Orchid Beach Club ..................13
Sellstate ................................31
Serbin Printing, Inc. ................42
Entrust....................................39
Stock Development..................19
The Founders Club ....................5
US 1031 Exchange Services ....40
Mackinac Savings....................40
Venetian..................................38
Morrison Homes........................2
Vivante ..................................27
WORLD CLASS PRINTING AND PUBLISHING
Home of COLORLINE,
World Class Post Cards,
Business Cards and Brochures
for the Real Estate Industry
1500 N. Washington Blvd. • Sarasota, FL 34236
941.366.0755 • 800.282.6192 • fax 941.365.6327
www.serbinprinting.com
42
February 2006
Day C
la
Sales ss Special
As
Pre- L sociate
icens
e
$
3
2
9
Inclu
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ED KLOPFER
Schools of Real Estate
des E
xam P
www.edklopfer.com
rep
Sarasota & Bradenton Course Schedule
January - March 2006
Florida Real Estate Sales Associate And Broker Pre-Licensing And
Post-Licensing Are Now Offered Online At www.edklopfer.com
(D) 8:30 am - 5:30 pm
(E) 6:15 pm - 10:15 pm
(W) 9:00 am - 5:00 pm
Sales Associate Pre-License
Broker Pre-License
Tuition $339.00 (Includes Manual)
Bradenton/Sarasota Day Class Special Tuition Package $329.00
(Special Includes State Prep, Online Prep & Manual)
Sarasota
(D)
(E)
(D)
(D)
(E)
(D)
(D)
(D)
(E)
(D)
Jan
Jan
Jan
Feb
Feb
Feb
Mar
Mar
Apr
Apr
Bradenton
4, 5, 6, 9, 10, 11, 12
4, 5, 9, 11, 12, 16, 18, 19, 23, 25, 26, 30 & Feb 1, 2
31 & Feb 1, 2, 3, 6, 7, 8
7, 8, 9, 10, 13, 14, 15
22, 23, 27 & Mar 1, 2, 6, 8, 9, 13, 15, 16, 20, 22, 23
28 & Mar 1, 2, 3, 6, 7, 8
7, 8, 9, 10, 13, 14, 15
28, 29, 30, 31 & Apr 3, 4, 5
10, 12, 17, 19, 20, 24, 26, 27 & May 1, 3, 4, 8, 10, 11
25, 26, 27, 28 & May 1, 2, 3
(D) Jan 17, 18, 19, 20, 23, 24, 25
(D) Feb 21, 22, 23, 24, 27, 28 & Mar 1
(D) Apr 10, 11, 12, 17, 18, 19, 20
Sarasota Day Class Special Tuition Package $419.00
(Includes State Exam Prep & Manual)
(D) Jan 17, 18, 19, 20, 23, 24, 25, 26
(D) Apr 18, 19, 20, 21, 24, 25, 26, 27
Sarasota
Broker State Exam Prep
Tuition Package $149.00 Non-Package $169.00
Non-Student $199.00 (D/W) Day & Weekends 9:00 a.m. - 5:00 p.m.
(D/W) Jan 27, 28, 29 (D/W) Apr 28, 29, 30
Sarasota
Broker Post-License
Tuition $169.00 Per 30-Hours (Includes Manual)
8:00 a.m. - 6:00 p.m.
(D/W) Feb 17, 18, 19…......Investment Analysis
(D) Feb 28 & Mar 1, 2..….Management
Sarasota
Registered Trainee Appraiser
Sarasota
(D) Feb 14, 15, 16, 17, 20, 21, 22, 23, 24
Sales Associate State Exam Prep
Certified Residential Appraiser
Tuition Package $129.00 Non-Package $149.00
Non-Student $179.00 Weekends 9:00 a.m. - 5:00 p.m.
Tuition $299.00 (Includes Manual) 30 Hours
(W) Jan 14, 15
(D) Feb 9, 10
(W) Mar 25, 26
(W) Jan 28, 29
(W) Mar 4, 5
(W) Apr 8, 9
(W) Feb 4, 5
(W) Mar 11, 12
(W) Apr 22, 23
15 Hours National Appraisal USPAP
Tuition $199.00 (Includes Workbook)
Sarasota
Mortgage Broker
(E/W) Evening 6:15 - 10:15 Weekend 8:30a.m. -6:30 p.m.
Sarasota
14-Hour Continuing Education
Tuition $69.00 Online or Correspondence Manual $21.95
(W) Feb 25, 26
(D/W) Mar 17, 18, 19, 25, 26
Sarasota
(W) Feb 3, 4, 5, 11, 12 (E) Feb 6, 8, 9, 13, 15, 16, 18*, 20, 21
(D) Feb 20, 21, 22, 23, 24
(W) Mar 4, 5, 10, 11, 12
(E) Mar 13, 14, 15, 16, 17
(W) Apr 1, 2, 7, 8, 9
Sarasota
(W) Apr 1, 2
Home Inspection
Sales Associate Post-License
Sarasota
(D) Mar 27, 28, 29
Sarasota
Sarasota
(E/W) Feb 24, 25, 26
(E/W) Apr 21, 22, 23
CAM Pre-License
Tuition $189.00 (Includes Manual) (W) Weekends 8:30 a.m. - 6:00 p.m.
Sarasota (W) Feb 11, 12 (W) Apr 29, 30
To Register 800-370-1570 Ɣ 941-379-2378 Ɣ www.edklopfer.com
Sarasota Ɣ Centergate Plaza Ɣ 4068 Cattlemen Road Ɣ , FL 34233
Bradenton Ɣ Comfort Inn (Classroom Only)Ɣ 580 66th Street East Ɣ I-75 and State Road 64
February 2006
43
Monday, Feb. 6, through Friday, March 17, 2006
MONDAY
TUESDAY
WEDNESDAY
6
9 AM & 2:30 PM
New Members
7
THURSDAY
8
9
8:30 AM CID Board
of Directors
9 AM & 2:30 PM
New Members
8 AM MLS Zone 3
12 PM Executive
Committee
9 AM - 12 PM Core Law
2 PM Intermediate
Spanish
Ongoing
Programs
FRIDAY
10
9 AM New Members
Spanish Class – Beginning
(every Thursday, 1 PM)
1 PM Beginning Spanish
Spanish Class – Intermediate
(every Thursday, 2 PM)
1 PM Advanced Spanish
Spanish Class – Advanced
(every Tuesday, at 1 PM)
For details call
Ruby Walsworth – 927-9659
14
12 PM Executive
Committee
9 AM & 2:30 PM
New Members
15
8 AM MLS Zone 1
9 AM & 1 PM Basic
XMLS
20
21
8:30 AM CID General
Membership meeting
(Five Points Plaza)
9:30 AM iMapp
27
28
2 PM Intermediate
Spanish
22
23
9 AM & 2:30 PM
New Members
8 AM MLS Zone 2
9 AM - 11 AM,
Emerging European
Markets
2 PM Intermediate
Spanish
24
9 AM New Members
March 1
9 AM & 2:30 PM
New Members
8:30 AM CID
Membership meeting
9 AM & 2:30 PM
New Members
9:30 AM iMapp
9 AM & 1 PM Florida
Living Net
9 AM & 1 PM Basic
XMLS
9 AM - 5 PM 14 Hours
Continuing Education
(Andy Gray)
9 AM - 5 PM 14 Hours
Continuing Education
(Andy Gray)
1 PM Planet Realtor
17
9 AM New Members
9 AM & 1 PM
Advanced XMLS
9 AM & 2:30 PM
New Members
9 AM & 2:30 PM
New Members
16
9 AM, 10:30 AM
& 1 PM FAR
Transaction Desk
2
8 AM MLS Zone 3
PRSRT STD
U.S. POSTAGE
PAID
MANASOTA, FL
PERMIT NO. 451
13
9 AM - 4 PM New
Member Orientation
3
9 AM New Members
9 AM & 1 PM
Advanced XMLS
2 PM Intermediate
Spanish
For more information on Educational Programs, please see pages 24-26
7
8
9
8 AM - 5 PM, GRI I
9 AM - 4 PM, GRI I
8 AM MLS Zone 1
8:30 AM CID Board
of Directors
9 AM & 2:30 PM
New Members
9 AM & 1 PM Basic
XMLS
13
14
10
9 AM New Members
2 PM Intermediate
Spanish
15
16
8 AM - 5 PM GRI I
8 AM - 5 PM GRI I
8 AM - 5 PM GRI I
8 AM MLS Zone 2
9 AM & 2:30 PM
New Members
9 AM & 2:30 PM
New Members
9 AM & 1 PM
Advanced XMLS
9 AM & 1 PM Basic
XMLS
2 PM Intermediate
Spanish
17
9 AM New Members
Sarasota Association of Realtors®, Inc.
3590 S. Tuttle Ave.
Sarasota, FL 34239
6
8 AM - 5 PM GRI I

February 2006 - Realtor Association of Sarasota and Manatee

Transcription

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