Sarasota Realtor Magazine August 2012

The Official Monthly Publication of the Sarasota Association of Realtors®

The new headquarters for theSarasota Association of Realtors®,

featuring “Green” design standards,will soon be under construction!

Page 6

Meet Your Proposed SAR Officers and Board of Directors for 2013 - See Page 27

AUGUST 2012

The Future Is Now

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

THE LIFESTYLE YOU DESERVE. THE QUALITY YOU DESIRE.

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

866-210-3134 | divosta.com

The Isles on Palmer Ranch SARASOTA

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

1907 Burgos Drive | Sarasota, FL 34238

IslandWalk at the West Villages NORTH PORT

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

13575 Salinas Street | Venice, FL 34293

50% Advance

REALTOR® Commissions

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

THE LIFESTYLE YOU DESERVE. THE QUALITY YOU DESIRE.

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

866-210-3134 | divosta.com

The Isles on Palmer Ranch SARASOTA

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

1907 Burgos Drive | Sarasota, FL 34238

IslandWalk at the West Villages NORTH PORT

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

13575 Salinas Street | Venice, FL 34293

50% Advance

REALTOR® Commissions

Sarasota Realtor® MagazineVolume 9, Issue 8

AUGUST 2012

Sarasota Association of Realtors®, Inc.

3590 South Tuttle Avenue Sarasota, Florida 34239

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

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

2012 SAR OfficersPresident

Laura Benson Michael Saunders & Company

President-Elect Roger Piro

Town & Country RealtySecretary

Stafford Starcher RE/MAX Alliance Group

Treasurer Peter Crowley

RE/MAX Alliance GroupImmediate Past President

Michael Bruno Michael Saunders & Company

Chief Executive Officer Kathy Roberts

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

Editorial StaffDirector of Communications

Ray PorterDirector of Membership

and Administrative ServicesDan Andrews

Director of Information TechnologyJesse Sunday

Director of Professional DevelopmentCatherine McCaskill

Governmental Affairs DirectorMarc Mansfield

ProductionCoastal Printing, Inc.

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

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

Editorial ideas and manuscripts are welcome. Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing.2012 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited. V

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6 A New Beginning Realtors® know the good feeling of helping their clients get into

a new home. Now, the Sarasota Association of Realtors® is moving

to a new, upgraded headquarters in mid-2013!

10 Election Endorsements The SAR Political Action Advisory Trustees has interviewed candidates for several local elections coming up in August and November and have provided recommendations.

12 TRIM Notices Sarasota County Property Appraiser Bill Furst and his staff

have completed the new Truth in Millage (TRIM) statements

which will be mailed to property owners this month.

15 Sales Remain High Property sales in June 2012 in the Sarasota market were at the second highest level in seven years, indicating the local real estate market remains in a strong recovery.

26 Nominees Named The nominees have been selected for the 2013 SAR Officers and Directors, and there will be a voice vote at the Sept. 14th SAR Annual Meeting at the Dutch Heritage Restaurant.

In every issue10- Governmental Affairs

12- Property Appraiser

15- Sales and Listing Statistics

18- Commercial Investment Division

20- Education Programs

24- On the SAR Scene

29- Global Business Council

30- Membership

32- Calendar of Events/Education

Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

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

RiddellLaw Group

R L G

3400 S. Tamiami Trail, Sarasota, Florida

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

Call 941-366-1300 For A FREE CONSULTATION

www.rlglawfirm.com

KNOW YOUR OPTIONSShort Sales Foreclosure Defense Real Estate Closings

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

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

Michelle Carpenter of Home Watchers of Sarasota is the SAR Affiliate of the Month for August 2012.

Jennifer LeBlanc and Michelle Carpenter own and operate Home Watchers of Sarasota, which provides full-service property management, annual leasing, vacation rentals and absentee homeowner services such as home watching.

The company also offers concierge services such as

personal management and home security key holder, etc.

The mission of Home Watchers is to provide the highest service possible based on reliability, integrity, common sense and professionalism. Home Watchers of Sarasota pays a Realtor® referral fee and does not compete with Realtors® who refer to them. To contact Home Watchers, call 941-400-0347, or visit their web site at www.hwsrq.net

Michelle Carpenter: Affiliate of Month for August 2012

RiddellLaw Group

R L G

3400 S. Tamiami Trail, Sarasota, Florida

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

Call 941-366-1300 For A FREE CONSULTATION

www.rlglawfirm.com

KNOW YOUR OPTIONSShort Sales Foreclosure Defense Real Estate Closings

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

It is that time of year again - time to honor the volunteers who give so much to our Association and to the community.

The SAR Nominating Committee is again seeking nominations for our three service awards. Nominations may be submitted by any member, nominating another member, or nominating themselves. Nomination forms are available on our website at www.sarasotarealtors.com/awards, or e-mail [email protected] or call 328-1169 to request a form. All forms must be received by Aug. 31, 2012.

Realtor® of the Year AwardThis award is based on the member’s lifetime contributions

to the Realtor® organization, service in the community and business accomplishments. Although total contributions may be considered, activities over the past three years will receive priority consideration.

Humanitarian AwardThe recipient of this award is honored for a significant

contribution as a volunteer for an organization or project in the community.

Meritorious Service AwardThe Realtor® selected for this honor is one whose service

to the Sarasota Association of Realtors® and his/her fellow Realtors® has been of such effectiveness and quality so as to deserve special recognition. The member’s service must be both consistent and valuable, and their dedication to personal professional development must be both consistent and of high quality. The member must be held in high esteem by his/her fellow Realtors®.

Don’t forget - nomination forms must be submitted by Friday, Aug. 31, 2012!

SAR seeks nominations for 2012 annual awards

TSarasota Association of Realtors® beginning new era

Cove

r Sto

ry A New HomeThe Sarasota Association of Realtors® took

a giant step into the future on July 11th by breaking ground for construction of a new, state-of-the-art headquarters facility. The building will be located at 2320 Cattlemen Road, the northwest corner of Cattlemen Road and Colonial Oaks Boulevard.

The association has been at its current location at 3590 South Tuttle Ave. for over 30 years, and has been actively seeking a new facility the last few years. The new facility will be about 2,500 square feet larger, will have more than double the parking space of the current facility, and is located in an accessible spot near Interstate 75, Bee Ridge, Bahia Vista, Webber, and Cattlemen Roads.

The new, 15,000 square foot facility, will contain offices for a staff of 12, a tech training center, meeting rooms, and a large conference room that can be split into three sections.

SAR will be seeking basic LEED certification. LEED, or Leadership in Energy and Environmental Design, is redefining the way we think about the places where we live, work and learn. As an internationally recognized mark of excellence, LEED provides building owners and operators with a framework for identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions.

“We couldn’t be more pleased that we are taking this step at this time” said SAR President, Laura Benson. “Members have, for many years, worked hard to get here. We are also very excited to be seeking LEED Certification for this building. That has always been a goal”.

The new building was designed by Mark Sultana of DSDG, Inc. Halfacre Construction has begun site preparation and occupancy is expected in the summer of 2013.

SAR will remain in the current facility during construction.

After retiring the debt on SAR’s present facility in 2001, the Board of Directors, on the advice of our CPA, began designating excess revenue each year for a new building. There has been discussion periodically over the last 11 years about a new building, primarily due to the inadequate onsite parking and lack of room for expansion. Several

times, a committee or task force was formed, and each time, for a variety of reasons, the task was put on hold.

In 2011, the SAR Board thoroughly re-examined the issue, and a potential site was selected on Cattlemen Road, at the northwest corner of Colonial Oaks Boulevard.

While most of the parcel is zoned OPI (Office, Professional, Institutional), a small segment is zoned RSF3 (residential), which required a special exception

Continued on P. 8, See HOME

SAR President Laura Benson takes charge of the bulldozer at the July 11th groundbreaking.


SAR Timeline1923 - SAR Founded(First President: Franklin P. Dean)1924 - First SAR office is small, 10 by 15 ft. room in commercial building near current Five Points Park1926 - Real estate market crash hits local industry1957 - SAR forms MLS system1972 - SAR growth necessitates move to facility on State Street in downtown Sarasota (approx. 2,000 sq. ft. office)(President: Glen R.Phelps)1982 - SAR moves in to current facility at 3590 S. Tuttle Ave.(President: Jack Seaman)1991 - SAR facility expanded2005 - SAR membership approaches 5,000 at height of real estate boom, stressing parking and facility(President: Judy Schomaker)2012 - SAR breaks ground for new 15,000 sq. ft. headquarters(President: Laura Benson)

The new headquarters building will be 2,500 square feet larger than the current facility, and built to LEED standards for sustainability.

Current SAR Board officers and CEO Kathy Roberts (second from right) break ground on the new facility on July 11th.

Several past presidents of SAR, with former CEO John Parker (third from left) break ground on the new facility.

in order to construct parking to serve the OPI piece. After months of delay, the Board of County Commissioners unanimously approved the special exception on May 9th.

Closing on the property occurred on June 22nd. Because of the foresight of SAR leaders, and a favorable negotiation with the property owner, SAR will own the new headquarters facility debt-free, as we do with the current facility.

The 90-year history of SAR includes several previous location moves, due to the growth of the association membership.

Beginning in a small, 10 by 15 foot office in a commercial building near the current Five Points Park in 1923, the Association often held meetings at larger local brokerage offices.

The SAR facility on State Street in downtown Sarasota was considered a spacious headquarters when it was selected in 1971 by the board and then-President Reid Farrell.

“That was a big office when we moved there in 1972!” recalled Farrell, who at age 85 is no longer active in real estate, but still handles some mortgage business. “We had a large parking lot, so we could accommodate bigger crowds at meetings. It worked out well.”

Farrell was instrumental in starting the Graduate, Realtor® Institute (GRI) program during his time heading up

the Florida Association of Realtors® Education Committee in the early ‘70s. It was a time of great progress and growth in the Florida real estate industry.

Farrell recalls the mild controversy in 1982 when the site for the current SAR headquarters was first being discussed.

“Many people thought at the time that we were moving too far to the

east, too far away from downtown,” said Farrell. The new building was soon constructed, and later a second, and finally the land to the north was purchased and a third building housing the current SAR auditorium and tech center was erected.

Parking was not a problem at first, but within a few years there were times when packed meetings led to overflow parking at the next door shopping plaza.

“We spoke to the owners of the plaza and showed them that we normally filled only about 20 percent of our own parking lot,” explained Farrell. “Finally, we agreed to join their plaza association, and that stopped most of the complaints.”

But growth didn’t slow down, and soon Thursday morning Power Marketing sessions and other big meetings were attracting more than 100

members. Overflow parking was once again a problem, and SAR has been forced to limit attendance at a number of educational classes. Power Marketing sessions have been held off site several times since 2006.

The new facility will change all that, hopefully for many years to come.

HOMEFrom Page 6

Soon, this vacant parcel at Cattlemen Road and Colonial Oaks Boulevard will be the new home for SAR.


Event: REAL Tech ExpoLocation: Sarasota Bradenton International Convention Center, 8005 15th Street East, Sarasota, FL 34243Date: Friday, September 21, 2012Gold Sponsor: Zillow & MFRMLSBronze Sponsor: Bert Rodgers School of Real Estate

Sponsors are now being sought for SAR’s REAL TECH EXPO. More than 400 attendees are expected this year in our new, larger location with plenty of parking.

As in the past two years, the REAL TECH EXPO will feature national keynote speakers and breakout sessions. The attendee registration fee is $25 (in advance), $30 (after August 15) and $35 (at the door). The first 100 registrants will have their names placed in a drawing for an iPad. Complete sponsorship details are below. Wi-Fi and electricity is included at all sponsor and vendor tables. Final deadline for sponsorship/vendor applications is August 15. For more information and an application form, please go to www.sarasotarealtors.com, or call Catherine at 941-328-1167.

Gold Level Sponsorship ($1,500) • Company president interview for a feature

story in the Sarasota Realtor® magazine• Company’s half-page ad featured in the

program • Company logo featured on marquee signage

and program• 5 minute presentation at Expo• Mass media coverage to Florida/Sarasota

press outlets and also in the Sarasota Realtor® magazine

• Company acknowledged and thanked during the opening ceremony and in printed materials

• One company marketing piece inserted in program bag

• 2 complimentary tickets to the Expo• Choice display location

Silver Level Sponsorship ($1,000)• Mass media coverage to Florida/Sarasota press outlets

and also in the Sarasota REALTOR® magazine • Company acknowledged and thanked during the

opening ceremony and in printed materials• One company marketing piece inserted in program bag• 2 complimentary tickets to the Expo• 6’ Tabletop display space in expo center

Bronze Level Sponsorship ($750)• Company acknowledged and thanked during the

opening ceremony and in printed materials• One company marketing piece inserted in program bag• 2 complimentary tickets to the Expo• 6’ Tabletop display space in expo center

Vendor Table ($250)• 2 complimentary tickets to the Expo• 6’ Tabletop display space in expo center

Sponsors sought for SAR REAL Tech ExpoTech User Group slates sessionTopic: TabletsDate: Monday, August 6, 11:30 a.m. to 1:00 p.m.FREE to SAR members

Come and brush up your tablet skills! We will have

groups for iPad and Android tablets, at both the beginner and advanced levels. Register early, as this event will sell out very quickly!

SAR endorses candidatesfor Primary and General Elections

TG

over

nmen

tal A

ffai

rsThe Sarasota Association of Realtors® Political

Action Advisory Trustees (SARPAAT) recently interviewed candidates for Sarasota County Commission Districts 3 & 5 and County Charter Review Board Districts 1-5.

Based upon those personal interviews, candidate answers to questions regarding private property rights, and real estate issues in general, SARPAAT recommended the candidates shown below which were approved by the SAR Board of Directors.

We realize you have the right to vote for the candidate of your choice, however, if you are interested in which candidates answered best on real estate issues, your screening committee and Board of Directors have chosen the slate of candidates shown below for the upcoming Primary Election held on Tuesday, Aug. 14, 2012 and the General Election held Tuesday, Nov. 6, 2012.

Sarasota County Commission:County Commission District #3 – Commissioner

Christine Robinson has been a strong supporter for economic development during her term. She realizes the need to create new jobs and at the same time retain existing jobs within Sarasota County. She is also a strong supporter of tourism based economic development and the use of economic incentives for both recruitment and retention of jobs. She has also demonstrated an excellent understanding of private property rights and balanced those rights with needs of the overall community. (Jennifer Cohen is running against Robinson.) SARPAAT recommends Christine Robinson for County Commission District #3.

County Commission District #5 (No incumbent) - Charles Hines demonstrated a good understanding of private property rights. He is strongly supportive of tourism and economic development initiatives and understands the continuing need to create new jobs and retain existing jobs for the county. (Randy McLendon is running against Hines.) SARPAAT recommends Charles Hines for County Commission District #5.

Sarasota County Charter Review Board:County Charter Review Board District #1 (No

Incumbent) Anthony “Tony” Sawyer is a retired attorney. He has served as President of the Meadows Community Association and Vice Chair on the Sarasota County Board of Zoning Appeals for three years. He has an excellent understanding of the role and responsibilities of the Charter Review Board.

(Paul Cajka and H. Ross Gustafson are running against Sawyer.) SARPAAT recommends Anthony Sawyer for Charter Review Board District 1.

County Charter Review Board District #2 (No incumbent): Donna Barcomb served on Sarasota Memorial Hospital Board for 12 years. She has an excellent understanding of the Charter Review Board and believes any amendment to the Charter requires a thorough review. (Alexandra Coe and Marie Nisco are running against Barcomb.) SARPAAT recommends Donna Barcomb for Charter Review District #2.

County Charter Review Board District #3 (No incumbent) Fred Tower III has a lengthy history of public and community service in North Port, Florida. He has an excellent understanding of the role and more importantly the responsibilities of the Charter Review Board. (Pat Wayman is running against Tower.) SARPAAT recommends Fred Tower III for Charter Review Board District #3.

County Charter Review Board District #4 (No incumbent) Mark Hawkins is the owner of Hawk’s Nest Construction. He has an excellent understanding of the role of the Charter Review Board as it relates to the County Commission, and believes any amendment to the Charter should be reviewed and thoroughly investigated prior to approval. (Tom Trevor is running against Hawkins.) SARPAAT recommends Mark Hawkins for Charter Review Board District #4.

County Charter Review Board District #5 (No incumbent) John Fellin has served on several Sarasota County Advisory Boards including the County Planning Commission where he served two years as Chairman. He has held leadership roles in the Englewood Airpark Association, Lemon Bay Sunrise Rotary Club and the Englewood Chamber of Commerce. He has an excellent understanding of the roles and responsibilities of the Charter Review Board. (John Scolaro and Kevin T. Connelly are running against Fellin.) SARPAAT recommends John J. Fellin for Charter Review Board District #5.

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

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

SARPAAT has released recommendations for the upcoming Primary Election held on Tuesday, Aug. 14, 2012 and the General

Election held Tuesday, Nov. 6, 2012.


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

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

APr

oper

ty A

ppra

iser Important property tax notices

will be mailed this month

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

By Bill Furst, GRI, CRS, CRBSarasota CountyProperty Appraiser

As you can see in the illustration on the right, the TRIM format for 2012 is largely unchanged from what you saw last year.

So, what is new for 2012?•QR Code®: Your property

information is now available at your fingertips. The code is located in the lower right-hand corner of the TRIM form. If you have a smart phone or a tablet with a reader installed you can take a picture of this code and immediately be directed to your property’s detail page on our website.

Once the TRIM Notices are mailed taxpayers will also be able to view and reprint their Notice and any other Notice from the Property Detail page on the Property Appraiser’s website, www.SC-PA.com.

Questions About Our Opinion of Value or Exemption

Eligibility?Sarasota County taxpayers can

avail themselves of any or all of the following three steps to challenge the valuation or the disapproval of an exemption on their property.

1. Request an informal conference with the Property Appraiser to discuss your property’s valuation or exemption eligibility. Most situations are solved by sharing information during this initial step. Although this step is not required, we highly recommend it. Call 941.861.8200 or visit either of our offices; find directions at www.SC-PA.com.

Sarasota – Terrace Building, 2001 Adams Lane

Venice – R. L. Anderson Administration Center, 4000 S. Tamiami Trail, Suite 115

2. File a petition with the Value Adjustment Board (VAB) no later

than 25 days after the TRIM Notice is mailed. The last day to file a petition is shown at the bottom right hand corner of the Notice.

Paperless Online Filing You may file a petition with the

Value Adjustment Board (VAB) online at www.SarasotaClerk.com within 25 days after the mailing of the Truth in Millage Notice (TRIM). All petitions must include the applicable filing fee. Computers are available for your use at these two Clerk office locations:•SarasotaCounty

Administration Center. 1660 Ringling Boulevard Suite 210, Sarasota, FL 34236•R.L.AndersonAdministration

Center, 4000 S. Tamiami Trail, Suite 222, Venice, FL 34293

Additional information regarding electronic filing, including filing and credit card processing fees, is available on the Clerk’s website, www.SarasotaClerk.com

Petition forms and additional information are available at our offices and these websites:

Clerk to the Value Adjustment Board: www.SarasotaClerk.com

Property Appraiser: www.SC-PA.com

Florida Department of Revenue: www.myflorida.com/dor/property

3. If you do not file an appeal with the Value Adjustment Board you may file suit in Circuit Court within 60 days after the Tax Roll is certified for the collection of taxes. Or, if you file an appeal with the VAB and you do not agree with their decision, you may file a lawsuit in Circuit Court within 60 days after the VAB rendered a decision in your case.

This can be done whether or not a petition is filed or someone meets with an appraiser. If you choose this route we suggest you contact a legal professional.

“Notices of Proposed Property Taxes and Proposed or Adopted Non‐Ad Valorem

Assessments” will be mailed in mid‐ August. As you can see in the illustration, the TRIM format for 2012 is largely unchanged from what you saw last year. So, what is new for 2012?

QR Code®: Your property information is now available at your fingertips. The code is located in the lower right‐hand corner of the TRIM form. If you have a smart phone or a tablet with a reader installed you can take a picture of this code and immediately be directed to your property’s detail page on our website.

Once the TRIM Notices are mailed taxpayers will also be able to view and reprint their Notice and any other Notice from the Property Detail page on the Property Appraiser’s website, www.SC‐PA.com.

Questions about Our Opinion of Value or Exemption Eligibility? Sarasota County taxpayers can avail themselves of any or all of the following three steps to challenge the valuation or the disapproval of an exemption on their property.

1. Request an informal conference with the Property Appraiser to discuss your property’s valuation or exemption eligibility. Most situations are solved by sharing information during this initial step. Although this step is not required, we highly recommend it. Call 941.861.8200 or visit either of our offices; find directions at www.SC‐PA.com.

Sarasota – Terrace Building, 2001 Adams Lane Venice – R. L. Anderson Administration Center, 4000 S. Tamiami Tr., Suite 115

2. File a petition with the Value Adjustment Board (VAB) no later than 25 days after the

TRIM Notice is mailed. The last day to file a petition is shown at the bottom right hand corner of the Notice.

Paperless Online Filing You may file a petition with the Value Adjustment Board (VAB) online at www.SarasotaClerk.com within 25 days after the mailing of the Truth in Millage Notice (TRIM). All petitions must include the applicable filing fee. Computers are available for your use at these two Clerk office locations:

• Sarasota County Administration Center. 1660 Ringling Boulevard Suite 210, Sarasota, FL 34236

• R. L. Anderson Administration Center, 4000 S. Tamiami Trail, Suite 222, Venice, FL 34293

Additional information regarding electronic filing, including filing and credit card processing fees, is available on the Clerk’s website, www.SarasotaClerk.com Petition forms and additional information are available at our offices and these websites:

Clerk to the Value Adjustment Board: www.SarasotaClerk.com Property Appraiser: www.SC‐PA.com Florida Department of Revenue: www.myflorida.com/dor/property

3. If you do not file an appeal with the Value Adjustment Board you may file suit in

Circuit Court within 60 days after the Tax Roll is certified for the collection of taxes. Or, if you file an appeal with the VAB and you do not agree with their decision, you may file a lawsuit in Circuit Court within 60 days after the VAB rendered a decision in your case. This can be done whether or not a petition is filed or someone meets with an appraiser. If you choose this route we suggest you contact a legal professional.

Preliminary Taxable Values for Sarasota County and Municipalities: 7/1/2012 2011 Sarasota County: $39.48 billion 2012 Sarasota County: $39.14 billion

‐0.87% 2011 City of Sarasota: $6.79 billion 2012 City of Sarasota: $6.88 billion

+1.41%

2011 City of Venice: $2.71 billion 2012 City of Venice: $2.70 billion

‐0.25% 2011 Longboat Key: $3.34 billion 2012 Longboat Key: $3.30 billion

‐1.19% 2011 North Port: $2.27 billion 2012 North Port: $2.26 billion

‐0.31%

Save Our Homes Assessed Value Increase for 2012 Every year, as provided by §193.155(1) F.S., the assessed value of homestead property increases no more than 3% or the increase in the Consumer Price Index (CPI), whichever is lower. For 2012 the CPI is 3%. As an example, for 2012 a $100,000 assessed value in 2011 will increase to no more than $103,000.

NEED A SPEAKER FOR YOUR MEETING? BILL FURST WILL COME AND SPEAK WITHYOUR GROUP AND ANSWER YOUR QUESTIONS. WANT MORE INFORMATION ON NAVIGATING OUR WEBSITE? OUR GIS DEPARTMENT IS AVAILABLE FOR DEMONSTRATIONS AND DISCUSSION. To set up an appointment call our office at 941.861.8200 or email us at PA@SC‐PA.com


2012 Notice of Proposed Property Taxes (TRIM) Guide Property ID

is a unique number identifying your

property

Taxing authorities

are the government bodies authorized to levy

taxes on the property; includes

county, school board,

municipalities, etc.

Market value is the property

appraiser’s determination of

value as of January 1. The following

are considered: the selling price of Comparable

properties, income derived from the

property, the replacement cost of improvements and other factors such

as location and condition

Assessment reductions

are benefits and use classifications

which result in additional savings on your tax bill.

The amount reflects the

difference between market and

assessed Value

Tax Bills are mailed in

November by the Tax Collector’s

Office

Know your hurricane evacuation

zone

Taxable value is assessed value

minus your exemptions. The taxable value is

multiplied by the tax rate set by

each of the Governing

authorities to establish your ad valorem property

tax bill

If you have questions about

the market value set by the property appraiser’s office or feel you should

have qualified for an

exemption not shown, please contact our office for an

informal review. The deadline for

filing a petition appears on your notice

Exemptions are shown for the current and prior tax years. If you are missing

an exemption for which you applied, please contact our office immediately

Refer to the back side of your TRIM notice to view the following: 1) the public hearing information for ad valorem taxing authorities listed above, 2) your non-ad valorem assessments, and 3) additional explanation of the columns shown above.

The sum of the ad valorem and non-ad valorem assessments may provide an estimate of your total tax bill. Your final tax bill may contain non-ad valorem assessments from districts which have elected not to participate on this notice.

With the QR code you can use software on your smartphone to take a

picture of this code and view your parcel data on our website

www.sarasotarealtors.com Sarasota Realtor® Magazine AUGUST 2012 13

WSecond Quarter Distressed Property Report

Source: Sarasota Association of Realtors®

0200400600800

100012001400160018002000

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

Total Sales ‐ By Quarter REO Short Market

In the Sarasota area, the issue of distressed property sales has been with us for the past few years, peaking in the third quarter of 2010, when 51 percent of all transactions were either foreclosures or short sales.

For the second quarter of 2012, distressed property sales dropped to 32.4 percent from the first quarter’s level of 36.2 percent.

Examining the chart above, one quickly observes that the number of distressed sales has been relatively steady for several quarters, while the number of normal market sales has fluctuated and has been steadily rising for the past three quarters.

What is to be learned from these statistics?Essentially, the local real estate market has regained solid

footing and appears to have weathered the worst of the distressed property wave that began in the first quarter of 2008.

While the future is never certain, and global and national issues can still create problens in the market, the current trends are clearly healthy.

Nationally. distressed homes - foreclosures and short sales sold at deep discounts - accounted for 25 percent of June sales (13 percent were foreclosures and 12 percent were short sales), unchanged from May but down 30 percent from June 2011 figures. Foreclosures across the nation sold for an average discount of 18 percent below market value in June, while short sales were discounted 15 percent.

“The distressed portion of the market will further diminish because the number of seriously delinquent mortgages has been falling,” said NAR Chief Economist Dr. Lawrence Yun.

According to Florida Realtors® Chief Economist Dr. John Tuccillo, 2012 has been a year of improvement, especially when it comes to the real estate market. Tuccillo noted there is no doubt that the recovery is here. The trends in pending sales, prices, percent of original list price, and inventory

continued moving in the right direction.Across the board, prices have been on the rise. Both

nationally and in Florida, prices were higher in June 2012 compared to a year ago. The median price for a single-family home in Florida was $151,000 and townhouse-condos had a median price of $110,000. Prices are being pushed up by investors, which means buyers cannot wait around, or they may miss out. The percent of original list price received is about 92% in Florida – implying that sellers are receiving more for their homes and buyers need to accurately reflect on a home’s value.

Inventory continues dropping. Nationwide, there is a 6.6-months supply of existing homes on the market. In Florida the number is even lower; there is a 6-months supply of single family homes and 5.9-months supply of townhouse-condos.

Pending sales have risen for the 13th month in a row in the state. In June 2012, Florida closed sales were up, 5.3% for single-family homes and 1.5% for townhouse-condos. Nationwide, existing home sales were up 4.5% year-over-year. Existing home sales across the nation have been increasing year-over-year in each month of 2012 yet Florida’s path hasn’t been so smooth. Here, the transition of pending to closed sales has been hampered by problems with access to financing. Despite this hurdle, the real estate market is pushing upward.

The positive trends in housing can be linked to the growth in employment. Florida employment is 4.5% higher now than last year. Unemployment has dropped from 10.9% in June 2011 to 9.0% in June 2012. With employment and home sales continuing to rise, the market will leave potential buyers who stay on the sidelines behind. “If you hear anyone say you can wait in this market, tell them how wrong they are,” said Dr. Tuccillo.

* - Federal Homebuyer Tax Credit Period

Sarasota market distressed sales drop in second quarter 2012


WSales in second quarter at highest level since 2005With 864 closed sales transactions

in June 2012, the Sarasota real estate market achieved the highest level of quarterly sales in seven years, with 2,604 sales from April through June. The 864 closed transactions in June was also the second highest total since September 2005, yet another indication of a market that is achieving sales totals not seen since the 2003-2005 real estate surge.

The totals for June were 603 single family homes and 261 condominiums, for the combined 864 closed transactions. Sales were 18.7 percent higher than in June 2011, when there were 728 closed transactions. The June sales almost reached the April 2012 figure of 886, which was the highest total in seven years. The normal seasonal influx of buyers tends to drop shortly after the Easter holiday, but this year the higher sales appear to be continuing into the summer.

However, pending sales (which represent properties that went under contract during the month) did decrease in June, dropping to 860 after four straight months that topped 1,000. Pending sales are a major indicator of the future market sales totals. Last year the pending sales also retreated, from 841 in May to 754 in June, and this meant the spring surge finally did slow down in July. The current numbers seem to indicate there remains strength in the market dynamics through the middle of the summer.

“I’ve been observing this market for some time, and the enthusiasm of local agents hasn’t dropped a bit,” said SAR President Laura Benson. “Sarasota is clearly the place to be if you work in the real estate industry. Agents I’ve spoken to are very, very busy trying to keep up as the buyers explore our market for the best deals.”

The median sale price for both categories remained near the highest levels of the year in June. The median sales price for single family homes dropped slightly to $178,500 from last month’s figure of $185,000, and higher than the 12-month running median of $167,000. The median sales price for condos was $195,000 – up from last month’s figure of $180,750, and still much higher than the 12-month running median prices of $165,000.

Single family home prices remained at a level more than 30 percent higher than the low of the market reached 15 months ago ($137,500), while condo prices are over 50 percent higher than the low point ($127,000). Part of the reason for the price resurgence remains likely related to the lower number of distressed property sales. The total number of distressed sales, foreclosures and short sales, remained around 31 percent, the lowest level in three years.

For the second quarter of 2012, distressed property sales dropped to 32.4 percent from the first quarter’s level of 36.2 percent. The quarterly numbers show a market recovering

from the low point in the third quarter of 2010, when distressed sales represented 51 percent of the total.

In addition, the disparity between the median sale prices of distressed properties versus normal market sales has remained fairly steady for the past two years (eight quarters). Non-distressed properties are selling at almost three-times the price of foreclosures, and almost double the price of short sales. In the most recent quarter, the median price of foreclosed single family homes was $93,000, while

the median of non-distressed homes was $235,000. Condos are showing a similar ratio - $83,000 for foreclosures, versus $240,000 for normal market sales.

The available inventory of homes on the market once again dropped to a new decade low of 3,816 from last month’s figure of 3,917. High sales and low inventory has also dropped the months of inventory to new 10-year lows. The June figures are 4.1 months of inventory for single family homes and 5.2 months inventory for condos – almost identical to May’s figures – 4.3 months and 5.2 months, respectively. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last June, there were 5.9 months of inventory for single family homes and 8.2 months of inventory for condos. At the market’s low point in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos.

“Economics 101 teaches that supply and demand rule a market,” said Benson. “As the available properties continue to drop, and competition for them remains high, we would naturally expect asking prices to rise, and that’s what we’ve witnessed. The only things holding back this market at the present time are the higher level of distressed properties, which weighs down on overall prices, and tight credit policies, which limit the number of qualified purchasers.”

Currently, only 604 properties for sale in the MLS are listed as short sales or foreclosures, up slightly from last month’s figure of 576 properties. This represents about 16 percent of available properties, slightly higher than last month, and down from January 2012 when the figure was 17 percent of the market.

“We have been wading into a seller’s market for a few months now, with the months of inventory below 6 months,” said Benson. “It will be interesting to see how the next few months unfold in our market. We’ve had remarkable numbers even with the economy still in relative doldrums, and other tensions in the U.S. and the world. We’re usually fairly insulated here in Sarasota because of our tremendous assets – wonderful weather, beautiful beaches and golf courses, and our great cultural climate. I don’t see anything stopping this market.”


Sarasota MLSSM Statistics - June 2012 Sarasota MLSSM Statistics - June 2012

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

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

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


$0

$50,000

$100,000

$150,000

$200,000

$250,000

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

Single Family

CondoMedian Sale Price


0

100

200

300

400

500

600

700


Unit Sales Single Family

Condo

Single Family

#Active #Sold %Sold AverageDOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported %Pending # New

Listings # Off Market

This Month 2,462 603 24.5 174 $178,500 $167,000 4.1 656 26.6 707 136 This

Month Last Year

3,048 510 16.7 188 $175,000 $155,000 5.9 586 19.2 646 202

Last Month 2,538 591 23.3 172 $185,000 $165,255 4.3 801 31.6 727 116

YTD ‐ 3,221 ‐ 172 $175,000 ‐ ‐ 4,543 ‐ 3,807 ‐


Sarasota MLSSM Statistics - June 2012 Sarasota MLSSM Statistics - June 2012

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

Condo

#Active #Sold %Sold Average DOM

Median Sale Prices

Median Last 12 Months

Months ofInventory

Pending Reported %Pending # New

Listings # Off

Market This

Month 1,354 261 19.3 221 $195,000 $165,000 5.2 204 15.0 258 162 This

Month Last Year

1,782 218 12.2 231 $185,000 $162,000 8.2 168 9.4 248 231

Last Month 1,379 263 19.1 180 $180,750 $160,000 5.2 274 19.9 248 155

YTD ‐ 1,397 ‐ 199 $184,000 ‐ ‐ 1,744 ‐ 1,868 ‐

Sarasota Association of Realtors® MLS

0100200300400500600700800900


Pending Sales Single FamilyCondo


0

500

1,000

1,500

2,000

2,500

3,000

3,500


InventorySingle FamilyCondo

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

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


RCo

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

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

2012 CID Officers & Directors

CID General Membership MeetingDate: Tuesday, Aug. 21st, 8:30 a.m.Location: SAR Auditorium, 3590 S. Tuttle Ave., SarasotaProgram: TBDCID Members Only

Commercial Marketplace Sessions- Friday, Aug. 3, 9 a.m. – SAR Auditorium- Friday, Aug. 10th, 9 a.m. – SAR Auditorium- Friday, Aug. 17th, 9 a.m. – MAR, 10920 Technology Terrace, Lakewood Ranch, FL- Friday, Aug. 24th, 9 a.m. – Bistro Figliulo- Friday, Aug. 31st, 9 a.m. – SAR Auditorium

CID slates meetings for August 2012

By Brad LindbergCID President

Realtors® are bound to a very strict Code of Ethics. We are mandated to update our ethics education every four years, and no one is exempt. (Editor’s note: Dec.31st, 2012 is the deadline for the current 4-year requirement.)

We are expected to rise above the fray and seek solutions to problems, always maintaining a level of professionalism, even when the situation takes on a life of its own.

When the economy started to decline, most of us, if not all us, figured it would rebound after the election of 2008. Why wouldn’t it rebound? The economy has always rebounded. New faces…new ideas…new energy!

None of us knew the real impact of the hole we dug ourselves into and how long it would take to get us out. So maybe we pushed the envelope a bit too hard to get a deal done and migrated out of the lines a little bit. Maybe we were asked to cut our fees or to do pro-bono work. Maybe we were pushed to the edge.

In the July 2012 issue of Florida Realtors® magazine, it was noted that MLS listing compensation must be honored even if the Seller decides to cut the commission.

Under Article 3, Standard of Practices 3-2, “to be effective, any change in compensation offered to cooperative services must be communicated to the other Realtor® prior to the time that Realtor®

submits an offer.”If this is not done, the listing broker could be found

in violation of the Code of Ethics and be subject to sanction. SAR also provides Arbitration hearings, and Article 17 of the Code of Ethics requires Realtors® to arbitrate commission disputes.

First of all…there is no reason, no matter how difficult the situation is or how bad the economy is for either party, to take advantage of anyone or any

situation. I believe that if we violate our Code of Ethics, we deserve to be punished. If we don’t take the offenders to task …we compromise our integrity and we ALL suffer the consequences.

For all of us to maintain the high professional standards we swore to uphold, it is necessary for us to educate our customers on the value of our services. The customer needs to understand the cost breakdown and all who are involved in the transaction and the sweat equity they invested. So when you are faced with an ethical dilemma,

STOP - and look into the mirror first.You may find your solution.

Unethical behavior: Reflection may be problem

50% Advance REALTOR® Commissions

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

Put yourself in a better place™

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

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

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

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

•2-3BedroomVillasand SingleFamilyHomes

•Clubhouse,ResortPool, andFitnessCenter

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

•2-4BedroomCarriageHomes andSingleFamilyHomes

•Clubhouse,GolfCourse andBeachClub

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

•2-3BedroomSingleFamilyHomes

•Clubhouse,ResistancePool, PuttingGreenandMore


50% Advance REALTOR® Commissions

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

Put yourself in a better place™

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

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

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

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

•2-3BedroomVillasand SingleFamilyHomes

•Clubhouse,ResortPool, andFitnessCenter

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

•2-4BedroomCarriageHomes andSingleFamilyHomes

•Clubhouse,GolfCourse andBeachClub

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

•2-3BedroomSingleFamilyHomes

•Clubhouse,ResistancePool, PuttingGreenandMore

Educ

atio

n Pr

ogra

ms

Title: Short Sales & Foreclosure Specialist (SFR) Course (8 Hours CE)Date: Aug. 22, 8:30 a.m. to 5 p.m.Location: SAR AuditoriumCost: $99 SAR Members; $119 Non-Members; Instructor: Terry Watson

Designed for real estate professionals at all experience levels, the NAR Short Sales and Foreclosure Resource Certification, or SFR for short, gives you a framework for understanding how to:• Direct distressed sellers to finance, tax and legal

professionals•Trainingonboth thebuyerand seller sideof short

sale and foreclosure transactions• Free webinars that you can download anytime,

anywhere•AccesstoSFRlogoandmarketingmaterials•Differentiation as an SFR at www.realtor.com and

www.realtor.org. Becoming SFR CertifiedThe path to pursuing the SFR certification is

straightforward:1. Be a member in good standing of the National

Association of Realtors®2. Complete a qualifying core course (this one or CRS

111)

3. Complete three 1-hour webinars (free at www.realtor.SFR.org)

4. Download application from www.realtorSFR.org5. Submit application with $175 application fee to

[email protected] more information at www.realtorSFR.org.

Discover the power of distressed sales

Income Property Analysis: Know the factsTitle: Income Property AnalysisDates: Sept. 25-26Instructor: F.W. “Chip” Myers IIICost: SAR Members: $175Non-SAR Members: $20011 Hours FL CE Credit8:30-5:00 p.m.

This course uses a unique approach to evaluating the viability of the various conventional measurements of value, yield, and return in investment real estate.•PricePerSquareFoot/Unit•GrossRentMultiplier•CapitalizationRate•CashonCash•EquityRateofReturn•InternalRateofReturn•FinancialManagementRateofReturn

The 105-page workbook contains chapters on cost recovery, passive loss, capital gain tax computation, at risk limitations, compounding and discounting, net present value, discounted cash flow analysis, and risk /market analysis.

While a financial calculator is highly recommended, it is not absolutely necessary to participate effectively in this course. The recommended calculator is any HP, preferably the HP10BII.

Who should attend: appraisers, property managers, residential

agents interested in pursuing a commercial career, investors and principals pursuing their own real estate investment activity. The course also provides a refresher for seasoned commercial agents and is a great prep course for the CCIM CI-101 course.

The instructor has presented this course over 750 times in the last 14 years for over 14,000 students.

AMERICA’S BUILDERIS PAYING 4% CO-OP!

For More InForMatIon, Please Call 866.475.3347.D.R. Horton Tampa/Sarasota

HortonReadyNow.comCGC1513647 *4% co-op earned and paid at closing and valid only on inventory homes listed on this ad that are sold by 7/31/12 and closed by 9/31/12. **As reported by Builder Magazine. +Square footage dimensions are approximate. Please contact a sales representative for details. ©2011 DR Horton, Inc. All rights reserved. ++Home and community information, including pricing, included features, terms, availability and amenities are subject to change and prior sale at any time without notice or obligation.

Voted America’s #1 Homebuilder for 10 Years in a Row!**

Awarded Builder Magazine’s 2010 “Builder of the Year”**

ADDISON MANOR - RUSKINHomesite 3701 Gardenia B - 4 bed, 2.5 bath, 2 car 2199 sq. ft.+ $178,990++

COVERED BRIDGE - ELLENTONHomesite 75 Hibiscus B - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ SOLD

EAGLE PALMS - BRANDONHomesite 151 Concord - 2 bed, 2 bath, 1 car 1017 sq. ft.+ $106,675++

Homesite 286 Concord - 2 bed, 2 bath, 1 car 1017 sq. ft.+ $109,130++

GREENS AT HIDDEN CREEK - WESLEY CHAPELHomesite 24 Dogwood B - 3 bed, 2 bath, 2 car 1554 sq. ft.+ $168,990++

KINGLET RIDGE AT FISHHAWK RANCH - LITHIAHomesite 363 Santa Cruz - 3 bed, 2.5 bath, 2 car 1635 sq. ft.+ $175,796++

MAGNOLIA GREEN - PLANT CITYHomesite 149 Hibiscus D - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $203,750++

Homesite 151 Wisteria B - 4 bed, 2.5 bath, 2 car 2701 sq. ft.+ $205,280++

MIRA LAGO - RUSKINHomesite 579 Juniper B - 4 bed, 2 bath, 2 car 1899 sq. ft.+ $175,750++

OAK VISTAS - SARASOTAHomesite 21 Hibiscus D - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $299,990++

OLD TAMPA ESTATES - PARRISHHomesite 2 Hibiscus B - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $226,885++


PALMER OAKS - SARASOTAHomesite 8 Laurel D - 3 bed, 2 bath, 2 car 1808 sq. ft.+ $278,910++

PANTHER TRACE - RIVERVIEWHomesite 2122 Juniper E - 4 bed, 2 bath, 2 car 2752 sq. ft.+ $215,990++

RED HAWK RESERVE - SARASOTAHomesite 21 Marbella B - 5 bed, 4.5 bath, 3 car 4363 sq. ft.+ $559,990++

Homesite 80 Egret A - 4 bed, 3 bath, 3 car 3452 sq. ft.+ $499,990++

RYE WILDERNESS ESTATES - BRADENTONHomesite 6202 Langford D - 4 bed, 2.5 bath, 3 car 2520 sq. ft.+ $299,990++

SCHOONER COVE - SOUTH TAMPAUnit 296 Catalina - 3 bed, 2.5 bath, 2 car 1481 sq. ft.+ $207,990++

SEVEN OAKS - WESLEY CHAPELHomesite 2767 Bridgeview C - 4 bed, 3 bath, 3 car 2150 sq. ft.+ SOLDHomesite 3367 Hibiscus D - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $274,990++

SUGAR MILL LAKES - PALMETTOHomesite 47 Laurel B - 3 bed, 2 bath, 2 car 1808 sq. ft.+ $169,990++

TERRA BELLA - LAND O’ LAKESHomesite 17 Bridgeview D - 4 bed, 3 bath, 3 car 2150 sq. ft.+ $261,705++

VILLAGES OF AVALON - SPRING HILLHomesite 323 Gardenia B - 4 bed, 2.5 bath, 3 car 2199 sq. ft.+ SOLD

Homesite 1824 Wisteria A - 4 bed, 2 bath, 2 car 2701 sq. ft.+ $197,215++

WEST BAY COVE - TAMPAHomesite 02 Bayshore - 3 bed, 2.5 bath, 2 car 1593 sq. ft.+ $172,150++

Homesite 04 Bayshore - 3 bed, 2.5 bath, 2 car 1516 sq. ft.+ $171,235++

WHISPERING WOODS - PLANT CITYHomesite 63 Wisteria B - 4 bed, 2 bath, 2 car 2701 sq. ft.+ $231,826++

Homesite 112 Juniper E - 4 bed, 2 bath, 2 car 2752 sq. ft.+ $218,305++

Homesite 117 Gardenia B - 4 bed, 2.5 bath, 2 car 2199 sq. ft.+ $205,990++

Homesite 127 Wisteria A - 4 bed, 2.5 bath, 2 car 2701 sq. ft.+ $232,990++

SARad6.5.indd 1 6/5/2012 4:00:03 PM

Instructor Terry Watson


AMERICA’S BUILDERIS PAYING 4% CO-OP!

For More InForMatIon, Please Call 866.475.3347.D.R. Horton Tampa/Sarasota

HortonReadyNow.comCGC1513647 *4% co-op earned and paid at closing and valid only on inventory homes listed on this ad that are sold by 7/31/12 and closed by 9/31/12. **As reported by Builder Magazine. +Square footage dimensions are approximate. Please contact a sales representative for details. ©2011 DR Horton, Inc. All rights reserved. ++Home and community information, including pricing, included features, terms, availability and amenities are subject to change and prior sale at any time without notice or obligation.

Voted America’s #1 Homebuilder for 10 Years in a Row!**

Awarded Builder Magazine’s 2010 “Builder of the Year”**

ADDISON MANOR - RUSKINHomesite 3701 Gardenia B - 4 bed, 2.5 bath, 2 car 2199 sq. ft.+ $178,990++

COVERED BRIDGE - ELLENTONHomesite 75 Hibiscus B - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ SOLD

EAGLE PALMS - BRANDONHomesite 151 Concord - 2 bed, 2 bath, 1 car 1017 sq. ft.+ $106,675++

Homesite 286 Concord - 2 bed, 2 bath, 1 car 1017 sq. ft.+ $109,130++

GREENS AT HIDDEN CREEK - WESLEY CHAPELHomesite 24 Dogwood B - 3 bed, 2 bath, 2 car 1554 sq. ft.+ $168,990++

KINGLET RIDGE AT FISHHAWK RANCH - LITHIAHomesite 363 Santa Cruz - 3 bed, 2.5 bath, 2 car 1635 sq. ft.+ $175,796++

MAGNOLIA GREEN - PLANT CITYHomesite 149 Hibiscus D - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $203,750++


MIRA LAGO - RUSKINHomesite 579 Juniper B - 4 bed, 2 bath, 2 car 1899 sq. ft.+ $175,750++

OAK VISTAS - SARASOTAHomesite 21 Hibiscus D - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $299,990++

OLD TAMPA ESTATES - PARRISHHomesite 2 Hibiscus B - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $226,885++


PALMER OAKS - SARASOTAHomesite 8 Laurel D - 3 bed, 2 bath, 2 car 1808 sq. ft.+ $278,910++

PANTHER TRACE - RIVERVIEWHomesite 2122 Juniper E - 4 bed, 2 bath, 2 car 2752 sq. ft.+ $215,990++

RED HAWK RESERVE - SARASOTAHomesite 21 Marbella B - 5 bed, 4.5 bath, 3 car 4363 sq. ft.+ $559,990++

Homesite 80 Egret A - 4 bed, 3 bath, 3 car 3452 sq. ft.+ $499,990++

RYE WILDERNESS ESTATES - BRADENTONHomesite 6202 Langford D - 4 bed, 2.5 bath, 3 car 2520 sq. ft.+ $299,990++

SCHOONER COVE - SOUTH TAMPAUnit 296 Catalina - 3 bed, 2.5 bath, 2 car 1481 sq. ft.+ $207,990++

SEVEN OAKS - WESLEY CHAPELHomesite 2767 Bridgeview C - 4 bed, 3 bath, 3 car 2150 sq. ft.+ SOLDHomesite 3367 Hibiscus D - 4 bed, 2.5 bath, 2 car 2498 sq. ft.+ $274,990++

SUGAR MILL LAKES - PALMETTOHomesite 47 Laurel B - 3 bed, 2 bath, 2 car 1808 sq. ft.+ $169,990++

TERRA BELLA - LAND O’ LAKESHomesite 17 Bridgeview D - 4 bed, 3 bath, 3 car 2150 sq. ft.+ $261,705++

VILLAGES OF AVALON - SPRING HILLHomesite 323 Gardenia B - 4 bed, 2.5 bath, 3 car 2199 sq. ft.+ SOLD

Homesite 1824 Wisteria A - 4 bed, 2 bath, 2 car 2701 sq. ft.+ $197,215++

WEST BAY COVE - TAMPAHomesite 02 Bayshore - 3 bed, 2.5 bath, 2 car 1593 sq. ft.+ $172,150++

Homesite 04 Bayshore - 3 bed, 2.5 bath, 2 car 1516 sq. ft.+ $171,235++

WHISPERING WOODS - PLANT CITYHomesite 63 Wisteria B - 4 bed, 2 bath, 2 car 2701 sq. ft.+ $231,826++

Homesite 112 Juniper E - 4 bed, 2 bath, 2 car 2752 sq. ft.+ $218,305++

Homesite 117 Gardenia B - 4 bed, 2.5 bath, 2 car 2199 sq. ft.+ $205,990++

Homesite 127 Wisteria A - 4 bed, 2.5 bath, 2 car 2701 sq. ft.+ $232,990++

SARad6.5.indd 1 6/5/2012 4:00:03 PM

Sarasota’s Premier Real Estate Printer

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

who have successfully completed the Certified International Property Specialist (CIPS) designation and Short Sales and Foreclosure

Resource (SFR) certification!

CERTIFIED INTERNATIONAL PROPERTY SPECIALIST (CIPS)Howard Kail RE/MAX Platinum Realty

SHORT SALES AND FORECLOSURE RESOURCE (SFR)Helene J. Frudakis Florida VIP Realty Inc.

Mark your education calendars for an October education extra at SAR!

Oct. 2-3, 2012: CRB: Sales Leadership That Drives Performance

Steve David will be teaching this timely course for brokers and managers. Today’s managers must deal with a myriad of leadership challenges, such as recruiting, managing turnover, training and mentoring; in addition to running a successful and profitable business.

Steve has been part of the GRI faculty for over 22 years. Mark your calendar now!

Future Trends in Green HousingAugust 15, 9 to 11 a.m.FREE to SAR MembersSpeakers: Drew Smith, Two Trails and Pete Minarich, REMN Mortgage

Learn about the different levels of Green certification, trends in retro fitting, as well as get the knowledge to recommend the FHA’s new Energy product to a customer.

Green remains a hot topic, and gaining an education on Green standards can help your real estate career thrive.

Steve David

Sales leadership courseSAR School of RealEstate offers courses

The Sarasota Association of Realtors® School of Real Estate (SARSRE) holds classes nights and weekends in Conference Room A in the SAR Education Building. Permit holder and instructor for the SAR School of Real Estate is Michael W. Davenport.

Remaining 2012 Course Schedule14-Hours Continuing Education for License RenewalAug. 7-8, 2012Tuition: SAR Members $79; Non-members, $99SAR members, please go to www.sarasotarealtors.com to register for the 14-hour CE course or Core Law. Non-members, go to the Education tab at the top of the home page (www.sarasotarealtors.com) to download a registration form that can be completed and faxed to SAR.

Sales Associate Pre-LicenseSept. 6 - Oct. 13, 2012Tuition: $364 (includes manual and materials)Class limited to 20 studentsTuesday & Thursday Evenings 5 to 10 p.m.AND Saturdays 8:30 a.m. to 1:30 p.m.End of Course Exam: Oct. 13, 10 a.m. to 1 p.m.

Broker Pre-LicenseCourse Code: BK 2Oct. 16 - Nov. 17, 2012Tuition: On or before Oct. 9: $395(includes manual, Florida Real EstateBrokers Guide, 4th Edition)After Oct. 9: $420SAR Members: 10% discountClass limited to 15 studentsTuesdays & Thursdays, 5 to 10 p.m.AND Saturdays, 8:30 a.m. to 1:30 p.m.End of Course Exam: Nov. 17, 10 a.m. to 1 p.m.


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

MLXchange BasicAug. 6 or Aug. 20, 9 a.m. to NoonMandatory session for all new users.Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work.- Review the home page features - Add a new client from the search- Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing the hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information

NEW! Compliance 101Aug. 6 or Aug. 20, 1 to 2:30 p.m.Mandatory session for all new users.In this course you will learn about the My Florida Regional MLS Rules and Regulations, and the compliance procedures for accuracy of listing data, along with educational materials available on MFRMLSUniversity.com- Rules and Regulations- Profile Sheet Terms- iSmart Tool

Adding and Modifying Listingsin MLXchangeAug. 6 or Aug. 20, 3 to 4:30 p.m.Mandatory class if you will be entering and updating your own listings.You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.- Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet

AuthentisignAug. 15, 9 to 9:30 a.m.This class will teach you how to utilize electronic signatures for your contracts.

Forms and DocumentsAug. 15, 10 to 11:30 a.m.This class will teach you how to use, create and manage forms and documents, plus much more.

CMA (CE Credit)Aug. 15, 1 to 4 p.m.This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA.

iMapp - Interactive Taxand Mailing LabelsAug. 27, 9 a.m. to NoonIn this class you will learn how to use the tax search features of MLXchange,

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

MLS System Settings & DefaultsAug. 27, 1 to 2:30 p.m.This class will teach you how to set up system settings in MLS, including how to save reports as favorites, setting up email defaults, search defaults and much more.- Favorite reports- Email templates- System defaults- Personal links on home page- Stationary- Associate listings to clients- Customizing search templates and customizing grids

Agent Marketing ToolsAug. 27, 3 to 4:30 p.m.This class will introduce you to Member Benefits that will provide you with valuable tools for your Buyers and Sellers, including:- DPR - Down Payment Resources- SSAD - Short Sale Assistance Desk- Rate Plug - Mortgage Report


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Visit SAR on Facebook atwww.facebook.com/SarasotaRealtors

Photos byJesse Sunday

Making the SAR Scene in 2012!

At left, Allison Werner and Marc Rasmussen, and above, Gregg and Christine Haarer at the June 26th Business After Hours event at Gecko’s.

Erin McWhorter and Samira Davis are seen at the SAR Business After Hours event at Gecko’s on June 26th.


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Foreign buyers flocking to FloridaDue to low prices and the relative weakness of the

dollar, international buyers continue to identify the U.S. as a desirable place to own property and make a profitable investment.

According to the National Association of Realtors® 2012 Profile of International Home Buying Activity, total residential international sales in the U.S. for the past year ending March 2012 equaled $82.5 billion, up from $66.4 billion in 2011. Total international sales were evenly split between non-resident foreigners and recent immigrants. The survey asked Realtors® to report their international business activity within the U.S. for the 12 months ending March 2012.

“Today’s advantageous market conditions have drawn more and more foreign buyers to the U.S. in recent years, signaling how desirable and profitable owning property in this country can be,” said NAR President Moe Veissi, broker-owner of Veissi & Associates, Inc. in Miami, Fla. “Low housing prices, a good inventory condition and increased buying power with today’s exchange rates help attract international clients. Foreign buyers also have the advantage of working with a Realtor®. Realtors® who specialize in serving international clientele have a truly global perspective; they know what hurdles foreign buyers face when purchasing property in the U.S., and have the expertise and knowledge that comes from working with clients from different cultures and real estate practices.”

International buyers bought homes throughout the country, but four states accounted for 51 percent of the purchases – Florida, California, Texas and Arizona. Florida has been the fastest growing destination of choice, accounting for 26 percent of foreign purchases. California was second with 11 percent and Texas and Arizona accounted for seven percent. Proximity to the home country, the presence of relatives and friends, the convenience of air transportation, and climate and location are all important considerations to prospective foreign buyers. Locations on the East Coast generally attract European buyers, while Asian buyers tend to purchase on the West Coast, particularly California. Florida attracts a diverse set of international buyers including South Americans, Europeans and Canadians. Meanwhile, Texas remains popular among Mexican buyers. Within markets in an individual state, it is not unusual to find concentrations of people grouped by nationality.

“Foreign buyers recognize that owning a home in the U.S. has many benefits, both financial and social,” said Veissi. “Many purchase property as an investment, vacation home, or to diversify their portfolio. In addition, many recent immigrants view

homeownership as an important accomplishment. They believe that being a homeowner is one of many ways they become established in the U.S. and attain stability, security, and a sense of community.”

International buyers came from all over the globe, but Canada, China (The People’s Republic of China including Hong Kong), Mexico, India, and the United Kingdom accounted for 55 percent of all international transactions, according to the survey. Canada and China remain the fastest-growing home countries. Canada accounted for 24 percent of international sales while China accounted for 11 percent, up from nine percent in 2011. Mexico was third with eight percent of sales and India and the U.K. both accounted for six percent.

Forty-five percent of international purchases were under $250,000. In addition, there appears to be a gradual increasing trend toward purchases in the $250,000 to $500,000 price range. In 2012 this range accounted for 30 percent of purchases, up from 28 percent in 2011. The average price paid by an international buyer was $400,000 compared to the overall U.S. average of $212,000. Several reasons account for why the average international home price is higher than the average overall price. The international client is typically wealthier than the domestic buyer and is looking for a property in a specialized niche, for example, a larger property suitable for multi-generational living, or a property that establishes the individual’s presence and standing in the community.

Many homes purchased by foreign buyers are used as a primary residence. Vacation and rental use are also major reasons for a purchase. More than half – 66 percent – of survey respondents reported international buyers purchased detached single-family homes. About half of international buyers, 52 percent, preferred to buy in a suburban area and about a quarter, 23 percent, bought in a central city/urban area.

Sixty-two percent of international purchases were all cash, which has increased since 2007. International buyers still experience many financing challenges when purchasing a home in the U.S. In fact, among transactions that failed, Realtors® reported that in 26 percent of the cases financing issues were the problem. The difficulties facing foreign buyers in trying to obtain a mortgage include lack of U.S.-based credit history and hurdles in meeting mortgage requirements. Other reasons for not purchasing properties were cost/taxes/insurance and immigration laws.

Twenty-seven percent of Realtors® reported having worked with international clients this year. SAR helps Realtors® expand their businesses globally through the Global Business Council.


The following individuals have been nominated by the SAR Nominating Committee for positions on the 2013 SAR Board of Directors. The election will be held by voice vote at the SAR Annual Meeting on Friday, Sept. 14th at noon at Dutch Heritage Restaurant, 3713 Bahia Vista Street.

Officers:2013 SAR PresidentRoger Piro, Town and Country

Originally from Cleveland Ohio, Roger Piro moved to Sarasota in 1979. Becoming a licensed salesman in 1994, Roger immediately joined the Sarasota Board of Realtors (now SAR) and began his involvement on many different committees. In 2003, Roger became a broker-associate.

Roger has been the Broker for Town and Country Real Estate for over 6 years, and was previously with Century 21 Advantage for 12 years. He originally specialized in residential real estate, rising to become an award winning sales associate. He later stepped into a management position and has been involved with educating and mentoring many agents, leading them to more productive careers. It was also during this time that Roger’s leadership abilities became apparent.

Roger has served on the SAR board of directors and the Florida Realtors’ Board of Directors. He is also the past chair and former member of the Grievance Committee, Professional Standards Committee, Finance Committee, and Facility Task Force. In past years he has also served on the Membership Committee, Professional Development Committee, Realtor Attorney Committee, and Nominating Committee. He is currently SAR President-Elect and serves on the Professional Standards Committee, Nominating Committee, and Finance Committee.

2013 SAR President-ElectPeter Crowley, RE/MAX Alliance Group

Peter Crowley, broker with the RE/MAX Alliance Group, graduated from the University of Florida with a law degree and an MBA. He is a member of the Florida Bar, and also a graduate of the REAL Trends Leadership Institute. Peter is President and Broker/Co-Owner of RE/MAX Alliance Group. Peter is past Chairman of Goodwill Industries Manasota, Inc. He is also a past director for My Florida Regional MLS and was actively involved in the enrollment of the five southwest associations into the regional MLS. In 2008, Peter received the SAR President’s Award.

Peter is looking forward to his leadership position with SAR to contribute to the ongoing professionalism of the outstanding Realtors in our association.

Peter is most proud of his family - Keli (wife), Kenley (daughter, 3 years old) and Jack (son, 6 months old).

2013 SAR TreasurerStafford Starcher, RE/MAX Alliance Group

Stafford Starcher, originally from a Asheboro, North Carolina, moved to Sarasota in 1989 and was licensed in 1994. His early career was as a high school band director after graduating from East Carolina University. Teaching was his first love, setting high goals for each student and creating a program that developed a strong sense of self-esteem and the desire to achieve at high levels.

After teaching, Stafford worked in the music industry as district sales manager for a leading instrument manufacturer.

In 1994, through a real estate transaction Stafford met Linda. Shortly thereafter they were married and Stafford obtained his real estate license. He began the process of completing many advanced educational courses to develop his real estate career. Stafford holds a Brokers License, GRI, CRS, ABR, CSP, SFR, SRES & CDPE designations. He has contributed his time and knowledge to several Committees including SAR Professional Development Committee, Grievance Committee and a graduate of SAR’s Emerging Leaders Program. Stafford is currently secretary of the Executive Committee, a member of the Professional Standards Committee, the SARPAAT Committee, and the Facility Task Force. He is also a participant in the 2012 Florida Realtors® Leadership Academy.

In Stafford’s spare time he enjoys family time with his wife and visiting with his three boys, one daughter and one grandson. Occasionally, you might find him on the golf course or the beach.

2013 SAR SecretaryXena Vallone, Xena Vallone Realty

Xena Vallone is actually a second time Florida resident, originally here in the late 1980s and back again in 2000 with a stay in Buffalo, NY in between to raise her two boys, Steven & Michael. While living in Buffalo she worked as a Real Estate Paralegal for approximately 15 years before she and her husband opened Xena Vallone Antiques, which was a natural fit to her husband’s existing antique restoration business.

Nominees named for 2013 SAR Board of Directors


She began her real estate sales career in 2001 working as a sales agent, then as a Property Manager on Longboat Key before obtaining her Broker license to return to sales and eventually open Xena Vallone Realty in 2009.

Xena believes in keeping abreast of issues surrounding real estate and to that end has obtained her ABR and SFR Designations, as well as CDPE Certification. Feeling strongly about maintaining the integrity of the industry, the first committee she joined was the Grievance Committee. Today she sits on the Professional Standards and Realtor Attorney Joint Committees and has previously served on Professional Development. Wanting to further her leadership skills, she enrolled in SAR’s Emerging Leaders Program and graduated in 2011. She was appointed to serve as a Director for My Florida Regional MLS and also served on the SAR Board in 2012.

When not volunteering, you can find Xena with her husband on their boat “With a Client” enjoying all Sarasota has to offer from the water with their two dogs, a Golden Retriever (Sophie) and a rescued Beagle (Daphne). Travel is something Xena enjoys with her family and she does try to squeeze that in every once in a while.

Xena believes in giving back to her Association and the members it serves and enjoys every bit of her service to both SAR and MFR.

2013 SAR Immediate Past-PresidentLaura Benson, Michael Saunders & Company

Laura Benson has been an extremely active SAR leader for over 13 years, serving on various committees, including Professional Development, Grievance, Public Policy, Governmental Affairs, Finance, Nominating, and SARPAAT (RPAC’s Board of Trustees). She served as SAR President in 2012. She was the SAR 2008 Realtor® of the Year, and in 2008 led the SAR Public Policy Committee, while at the same time campaigning for election to the Florida Legislature.

Laura is originally from Boston, Massachusetts, and works at Michael Saunders & Company. Her background runs the gamut of real estate - mortgage lending, construction management and real estate law. She has been an elected member of the Sarasota County School Board and stays politically active in the community. She has also served on the SAR Board of Directors, and the Florida Realtors®’ Board of Directors.

Laura is a certified instructor for a NAR-required ethics course. She has also been appointed by the Florida Senate to a seat on the Century Commission for a Sustainable Florida, and is on the Board of Directors for Future Business Leaders of America-Phi Beta Lambda. and Take Stock in Children. She is a 26-year local resident, and she and her husband,

Brian Meskil, along with their three children enjoy all aspects of the Sarasota community.

2013 Directors:Steve Bailey, Coldwell Banker Residential - 3-year Dirctor

Steve Bailey, managing broker with Coldwell Banker on Siesta Key, is a graduate of Tulane University School of Law, New Orleans. LA. He is originally from Portsmouth, Virginia, and has lived in Miami, Jacksonville, and Naples in addition to Wilmington, Delaware and Avon, CT.

Steve was the executive vice president for Merrill Lynch Realty in Connecticut and Long Island and owned his own real estate company in Connecticut with 13 offices and 400 sales associates that was recognized as one of the top 120 companies in the nation for units sold and sales volume. He began his real estate career as a sales associate with Merrill Lynch Realty in Wethersfield, CT.

Steve served an as Infantry Lieutenant in Vietnam after graduating from Infantry officer Candidate School, Ft. Benning, GA.

Steve and his wife, Mary, have lived in Sarasota since 2004 and have three children. Their son is a real estate manager in Chicago, their youngest daughter is a real estate agent with RE/MAX in Denver and their oldest daughter works with the 9/11 Memorial in NYC.

Marianne LeBar, Michael Saunders & Company - 3-year Director

Marianne LeBar was licensed in both New Jersey and Pennsylvania prior to achieving her Broker’s license in Sarasota and becoming a member of SAR in 1994. She has been an active Realtor® with Michael Saunders & Company for over 10 years. She is the 2012 President of the Women’s Council of Realtors®, Sarasota chapter, a nationally recognized chapter for winning several national contests.

Marianne has international experience with transactions in Central America, as well as her own building experience in Belize. She served on the Global Business Council in 2011, and serves on the 2012 Realtor®-Attorney Joint Committee. Marianne prides herself on being a team player, helping others find their voice and leadership skills, and being a cheerleader for those who pursue excellence.

Her children were born and raised in Sarasota and attend Sarasota public schools. A lifetime member of All Children’s Hospital Guild, she knows the meaning of giving back. Being an avid scuba diver, marathon runner and triathlete,

Continued on P. 31, see NOMINEES


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

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

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

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

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

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


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teeBuyer has obligation to notify seller of title defects

By Michelle L. Hermey, Esq.Fergeson, Skipper, Shaw, Keyser, Baron & Tirabassi, P.A.

This article will address the specific notice provision contained in the Florida Realtors/Florida Bar-1, Residential Contract for Sale and Purchase, Paragraph 18 (ii) entitled “Title Examination.” This article does not address the marketability of title or warranties contained in the deed of conveyance.

The Title Examination paragraph states (in part), “Buyer shall have 5 days after receipt of Title Commitment to examine it and notify Seller in writing specifying defect(s), if any, that render title unmarketable.” The Title Examination paragraph goes on to state, “if Buyer fails to notify Seller, Buyer shall have deemed to have accepted title as it then is.” The later sentence is of concern especially when the Seller is providing title and the Buyer is not represented at closing by an attorney. If the Buyer is not represented at closing and they fail to properly notify the Seller of the “specific” title defects the Buyer may have waived their right to object to the title defect and, according to the contract, “deemed” to have accepted title.

As the Cooperating Sales Associate or Cooperating Broker you should be mindful of what role you play in the transaction and what the Buyer may realistically or unrealistically expect from you. You should also be aware that although the Buyer may have been issued a Title Commitment by the Seller’s closing agent, it does not mean that the Buyer is receiving marketable

title. The closing agent could be providing insurable title. For a better explanation of marketable title and insurable title please read the article published in the June 2012 SAR Magazine.

Due to the complexity of deciphering a Title Commitment and determining whether the Title Commitment contains a title defect, your Buyer should seriously consider hiring an experienced attorney to review the Title Commitment on their behalf. If the Buyer is reluctant to hire an attorney, the Buyer can attempt to obtain from the Seller’s closing agent a written statement which confirms that there are no title defects and the Buyer is receiving marketable title. This request should be made by the Buyer to the Seller’s closing agent. A response should be received from the Seller’s closing agent prior to the expiration of the title notification deadline date contained in the contract. The written request for a verification of the status of title does not mean that the Seller’s closing agent will be willing to issue such a letter. If these options are not available, protect yourselves as much as possible by having the Buyers sign an acknowledgement that they have opted not to hire an attorney and they have reviewed and accepted the Title Commitment.

Michelle L. Hermey, Esq., Fergeson, Skipper, Shaw, Keyser, Baron & Tirabassi, P.A., is a member of Sarasota Association of Realtors®/Sarasota County Bar Association Joint Committee. She can be reached at 941-957-1900, or by email at [email protected]


Mem

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sDesignated Realtors®

Brown, Thomas: U S Assets Group, Inc.Jeansonne, Jana: Regency Realty ServicesJohnston, Andrew: Realty PlazaParadas, Juan: Agent Trust RealtySalem, Terrill: Ambition Realty, LLC

New MembersAndrews, James: Exit King RealtyAymerich, Rafael: Atchley International RealtyBailey, Angela: Rossi & Company Inc.Bare, Kathleen: Century 21 Almar & AssociatesBeausang, John: Coldwell Banker Res R EBrand, Kenneth: Century 21 Almar & AssociatesBruggeman, Craig: Wagner RealtyDeSarno, Cheri: Coldwell Banker Res R EDonovan, Diana: Premier Sotheby’s Intl. RealtyDurrence, Jill: Integra Realty GroupFinney, Rhonda: RE/MAX Alliance GroupFoley, Catherine: Jennette Properties Inc.Forgea, Stephanie: Exit King RealtyFunk, Jenifer: Keller Williams On The WaterGirimont, Teresa: Coldwell Banker Res R EHays, Nathan: DWELL Real EstateJacobsen, Joanne: Bosshardt Realty Services LLCKlein, Kari: Coldwell Banker Res R ELane, Vicki: Mapp Realty & Investment CompanyLanga, Janice: Coldwell Banker Res R ELanga, Scott: Coldwell Banker Res R EMacInnes, Karen: Buyer’s Broker of SW FloridaMangie, Christina: Coldwell Banker Res R EMatthaei, Ulrike: Coldwell Banker Res R EMayer, Lisa: Coldwell Banker Res R EOday, Ellen: Coldwell Banker Res R EOsborne, Nicole: RE/MAX Platinum RealtySchwartz, Jeffrey: Florida Gulfside PropertiesSmith, Olga: Coldwell Banker Res R ESthreshley, Valerie: Blakeley & Associates RealtyTassell, James: DWELL Real EstateTurgeon, Marc: Gulf & Bay Club Realty LLCVick, Charlotte: Exit Realty Signature Group

Now With ...Allen, James: Atchley International RealtyBaker, Mindy: Exit King RealtyBarrows, Derek: Atchley International RealtyBillett, Nicholas: Premier Plus RealtyBox, David: Agent Trust RealtyBoyle, Dennis: Atchley International RealtyCapek, Andrea: Exit King RealtyCarroll, John: Wagner RealtyCollier, Vicki: Premier Sotheby’s Intl. RealtyDavidson, Theresa: Exit King RealtyEisnaugle, Tracy: Premier Sotheby’s Intl. RealtyErnst, Christine: Atchley International RealtyFinney, Duane: RE/MAX Alliance GroupFlannagan, Mark: Sandals Realty of SarasotaGeweye, Charles: Exit King RealtyGoerdes, Frank: Keller Williams On The WaterGuimaraes, Maria: Horizon Realty InternationalHartnell, Clarence: Exit King RealtyHuemoeller, Gayle: Agent Trust Realty

Hutton, Timothy: Michael Saunders & CompanyIvan, Steve: Exit King RealtyJackson, Cindi: Agent Trust RealtyJohnston, Steve: Realty PlazaJurney, Ralph: Horizon Realty InternationalKaplan, Brett: Keller Williams On The WaterKey, Cheryl: Dear RealtyKey, Dale: Keller Williams On The WaterKukie, Wade: Realty Executives SolutionsLaRouche, Gina: Beckmann PropertiesLeckie, Kimberly: Sandals Realty of SarasotaLee, John: Suncoast Premier Realty ServLitke, Janice: Prudential Elite Realty SvcsLupia, Timothy: RE/MAX Tropical SandsMastro, Brad: Michael Saunders & CompanyMcDermott, Jeannie: Premier Sotheby’s Intl. RealtyMills, Gloria: Horizon Realty InternationalPearson, Laura: Premier Sotheby’s Intl. RealtyPhelps, Susan: Cristello and Co Real EstatePribe, Mary Jo: Agent Trust RealtyRichards, Lawrence: Key Solutions Real Estate GrpSpinks, Nancy: Opportunity Real Estate LLCSteinmetz, Richard: EXIT Creative RealtySwanson, Karin: Coldwell Banker Res R EThelen, Diann: Michael Saunders & CompanyTravnicek, Ivo: Regency Realty ServicesWilcher, John: DWELL Real EstateWooldridge, Tammi: Agent Trust Realty

New AffiliatesGreen Leaf Home Inspections7330 Rangi DriveSarasota, FL 34241Phone Number: 321-863-3542Representative: Clayton OwensSpecialty: Buying a house is one of life’s biggest decisions. Before you close, you’ll want a professional inspection of the house to ascertain its true condition. All our home inspectors have first-hand knowledge of the building trades and are members of the International Association of Certified Home Inspectors - InterNACHIEmail: [email protected]

The Association is pleased to welcome new members!

At the July orientation, 18 of the 40 new members attended.


she sets and achieves her goals all the way to the finish line.

Brad Lindberg, Sperry Van Ness Commercial - 3-year Director

For 25 years, as a senior executive and managing partner in an international telecommunications distribution company, Brad Lindberg had responsibilities for operations, site evaluations, relocations and business evaluations. For the last six years he has applied that experience to the commercial real estate industry.

Today, Brad is a Senior Investment Advisor and Broker Associate at Sperry Van Ness Commercial Advisory Group.

Brad is very active in the Sarasota Association of Realtors. Serving on multiple committees over the last few years, he currently serves as 2012 President of the Commercial Investment Division. In 2011, Brad was awarded Commercial Realtor of the Year for his dedication and service to the real estate profession by his peers.

Brad holds his BS degree in Political Science from Florida State University and has been a Florida resident for the last forty years. He is married with two children and has been a Sarasota resident for the last thirty two years.

Reneé Marquiss, Xena Vallone Realty - 3-year Director

A 20-plus year resident of Sarasota County, Reneé Marquiss is a 2011 graduate of SAR’s Emerging Leaders Program. She is currently the Vice-Chair of SAR’s Professional Development Committee, as well as a member of the Realtor®-Attorney Joint Committee, Member Benefits Committee, Tech-User Group Sub-Committee, and the Real Tech Expo Task Force. Although she earned her real estate license in 2009, she has over 30 years of experience in the real estate sector having worked as an assistant on the residential side here in Sarasota and as an Operations Manager on the commercial side in Denver, Colorado. Additionally, she was formerly the Membership Director for the Sarasota Chamber of Commerce.

A proud mother of two sons, one of which is a Major in the United States Army, Reneé also devotes her time to supporting the community organizations of Soldiers Angels and Manasota Operation Troop Support.

Christina Pitchford, Allen Real Estate Services - 3-year Director

Christina Pitchford, broker associate with Allen Real

Estate Services, currently serves as a director of the Sarasota Association of Realtors® and the Florida Realtors. She is a graduate of SAR’s Emerging Leaders Program and is part of this year’s Florida Realtors® Leadership Academy. She is a founding member and former chair of both the Sarasota Young Realtors® and Green Realtors® Alliance of Sarasota as well as a member of the Public Policy committee since 2009.

She has been awarded the Florida Realtors® Newcomer of the Year 2008, Sarasota Association of Realtors® Humanitarian of the Year 2010, Keep Sarasota County Beautiful’s Volunteer of the Year 2011 and has been a Florida Realtors® Honor Society member since 2009.

She is a seventh generation Floridian, third generation Realtor® and Sarasota native.

David Clapp, RE/MAX Alliance Group - 1-year Director

David P. Clapp, GRI, CDPE, RE/MAX Alliance Group, has been a full time Realtor® since 1978, practicing for 21 years outside of Philadelphia PA, and now for an additional 13 years in Sarasota.

Dave’s real estate accomplishments include being the top producing agent in his office, Director of Training for Corporate Century 21 in PA, Licensed Real Estate Instructor, Licensed Appraiser, and Broker/Co-Owner of a top ranked multi-office frm in PA. While living in Pennsylvania, Dave was very active in his Association and MLS organizations, serving in various capacities for many years. For both production and Association activities, Dave has been awarded numerous accolades including the President’s Award, Chairman of the Year, Realtor® of the Year in 1993, and SAR’s Meritorious Service Award in 2010. Currently, Dave is a Managing Broker and the Director of Education with RE/MAX Alliance Group. As a member of SAR, Dave has served in a number of capacities; Secretary of the Board of Directors, a Director, Chairman and Vice Chairman of the Professional Development committee, Chairman of the Tech Expo Committee, Chairman of Vendor Data Committee, and the Chairman of a sub- committee that was responsible for developing SAR’s basic educational program called “14 Key Strategies for Real Estate Success”. Dave has also been responsible for teaching at SAR Educational Programs for Power Marketing, New Member Orientation and classes on the FR/BAR Contract.

Directors whose terms continue in 2013 are:Michael Davenport, King Realty; Joe C. Hembree,

Hembree & Associates; Debbie Judge, Michael Saunders & Company; Bob Milhoan, Hembree & Associates; Carla Rayman, Coldwell Banker Residential; Drayton Saunders, Michael Saunders & Company; Bob Stanley, Coldwell Banker Residential; Kristin Triolo, Atchley International; and Amy Worth-Paul, RE/MAX Alliance Group.

NOMINEESFrom Page 27


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Monday Tuesday Wednesday Thursday Friday

July 30

31 8 a.m. GRI 3

Aug. 1 7:30 a.m. Toastmasters 9 a.m. GRI 3

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

3 9 a.m. CID Commercial Marketplace

6 9 a.m. Basic MLXchange 11:30 a.m. Tech User Group 1-2:30 p.m. Compliance 101 3-4:30 p.m. Adding and Modifying Listings

7 9 a.m. Core Law/14 Hours CE

8 9 a.m. 14 Hours CE

9 8 a.m. Power Marketing (SAR)


13 9 a.m. New Member Orientation 1 p.m. Code of Ethics

14

15 7:30 a.m. Toastmasters 9 a.m. Authentisign 9 a.m. GRAS Seminar 10 a.m. Forms & Documents 1 p.m. CMA


17 9 a.m. CID Commercial Marketplace (offsite)

20 9 a.m. Basic MLXchange 11:30 a.m. Tech User Group 1-2:30 p.m. Compliance 101 3-4:30 p.m. Adding and Modifying Listings

21 8 a.m. CID General Membership

22 8 a.m. Short Sale Certification (SFR) 8:30 a.m. Board of Directors


24 9 a.m. CID Commercial Marketplace (Bistro Figliulo)

27 9 a.m. iMapp 9 a.m. Property Management Seminar 1 p.m. MLS System Settings 3 p.m. Agent Marketing Tools

28 5 p.m. Affiliate After Hours at Gecko’s

29



AUGUST 2012

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

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

EDUCATION & EVENTS CALENDAR

Source: Sarasota Association of Realtors® MLS

0

100

200

300

400

500

600

700

800

900


New Listings Single FamilyCondo

The Xtra Pages - D

igital Version Only


0.0

2.0

4.0

6.0

8.0

10.0

12.0


Months of Inventory Single FamilyCondo


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


Sales Volume Single Family

Condo


0

50

100

150

200

250

300


Days on Market Single Family

Condo

Source: Sarasota Association of Realtors® MLS

0

100

200

300

400

500

600

700

800

900


New Listings Single FamilyCondo


0

200

400

600

800

1000

1200

1400

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

Single Family Sales ‐ By Quarter REO Short Market


0

100

200

300

400

500

600

700

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

Condo Sales ‐ By Quarter REO Short Market


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

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

REO Short MarketSingle Family Median Sale Price


$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

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

REO Short MarketCondo Median Sale Price

Second Quarter 2012 Report

* Homebuyer Tax Credit In Effect



0

100

200

300

400

500

600

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

REO Sales ‐ By Quarter Single FamilyCondo


0

50

100

150

200

250

300

350

400

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

Short Sales ‐ By Quarter Single Family

Condo


0

200

400

600

800

1000

1200

1400

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

Market Sales ‐ By Quarter Single FamilyCondo




$132,300

$172,500$191,000

$226,000

$272,500

$351,000$342,000

$303,000

$230,000

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

$142,000

$145,000$173,000

$191,000

$225,000

$305,000$301,225

$336,250$320,000

$210,000

$163,000$156,800

Annual Median Sale Price ‐ 2000 to 2011 Single Family Condo

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

Annual Sales ‐ 2000 to 2011Single Family Condo Total

9697

11267

10562

Single Family Condo Total

6 504

7,596

6,8416533

7036

8167

63586739

76038224

4,3494,940

5,603

6,504

4,3533,922

4,6265,183

5,4665,938

3 671 3 721

6533 63586042 5820

,

2,184 2,0962,564

3,1933,671 3,721

2,005 2,120

1,1941,556

2,137 2,286

1,194

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