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This and any accompanying marketing materials represents a preliminary or conceptual plan of development for the project and is subject to future revisions. Nothing herein shall be relied upon as a warranty or commitment that amenities or improvements will be constructed exactly as reflected herein, if at all. Amenities, fe atures lists, unit pricing and timing of construction are subject to change without notice. Sarasota Realtor® Volume 2, Number 10 October 2005 Sarasota Association of Realtors®, Inc. 3590 South Tuttle Avenue Sarasota, Florida 34239 Sarasota Phone: 941/923-2315 REALTOR REALTOR® FAX: 941/923-0191 www.sarasotarealtors.com M A G A Z I N E 2005 Officers “The official monthly magazine of the Sarasota Association of Realtors®” President Judy Schomaker RE/MAX Properties President-Elect Contents Felix Power Coldwell Banker Residential R.E. October 2005 Volume 2 Issue 10 Secretary Joe Hembree Hembree and Associates Inc. 5 Time for The Taste Treasurer The big event of the fall season is almost here – do you have your tickets yet for Dan Page Taste of Sarasota, an SAR co-sponsored event? RE/MAX Properties Immediate Past President 6 If you got your health insurance … Nick Figlow Will 2006 be the year the real estate community finally achieves a long-term goal RE/MAX Gulfstream Realty of gaining quality, affordable health care for Realtors? Chief Executive Officer Curt Singleton 8 Is there really a housing bubble? According to the chief economist with the NAR, there is a lot of misinformation in Mission Statement the media that the numbers and facts refute. The Sarasota Association of Realtors®, Inc., is a professional trade association committed to 10 Funding for environmental land buys providing quality programs and services for its members; enhancing the image of its members Sarasota County will ask the voters this fall to approve a referendum question in the community; upholding the Realtor® which extends the environmentally sensitive land purchase program, and adds Code of Ethics; planning for the future needs more funding. of the organization; and to protecting private property rights. 12 Stellar staging tips Sarasota Realtor® is published monthly by the Is your client’s home really ready to sell? Gain some valuable tips from the experts. Sarasota Association of Realtors® Inc. Editorial Staff 18 Flipping frenzy The trend of fast buys and event faster sales in the hot local market is still in high Director of Communications Ray Porter gear, but do you know the up side and the down side? Director of Member Services 30 It’s not your father’s NAR Action Center Dan Andrews A major revamp has taken place for the NAR Action Center, and the real estate Director of MLS Information Systems community stands to benefit from the new, energized organization. Victoria Szurant 42 New VOW/IDX policy – what does it mean? Director of Professional Development Changes have taken place in the VOW/IDX policy, and a legal fight is brewing Catherine McCaskill with the Department of Justice. What does all this mean to you? Production Serbin Printing, Inc. In every issue Sarasota Realtor® Advertising: 10 Governmental Affairs Update For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 21 Ethics in Action or [email protected]. Subscriptions: The annual dues of every 22 Sales & Listing Statistics member of the Sarasota Association of 24 Education Programs Realtors®, Inc., includes a one-year subscrip- tion to Sarasota Realtor® magazine. A yearly 34 Realtor Etiquette subscription for Sarasota Realtor® magazine is available to non-members for $25, plus Florida 35 WCR News sales tax. Editorial ideas and manuscripts are welcomed. 36 Membership News Byline articles and columns express the 41 International Real Estate opinions of the writers and do not necessarily reflect the policies or sentiments of the 44 Calendar of Events Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing. Did you know? The Florida Association of Realtors® formed in 1916 in Jacksonville with only 68 real estate 2005 Copyright© by the Sarasota Association brokers from 16 Florida communities represented. By that time, three local Realtor® organizations were already of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without established, in Tampa, Jacksonville and St. Petersburg. written permission is prohibited. ON THE COVER: The availability of moderately priced, quality health insurance is the top issue of Realtors across the state and nation, according to opinion polls. Once more, a law is under consideration which could remedy the situation – but will it get through the Senate and on to the President’s desk? See Page 6 for the Cover Story. Several images contained in this issue were purchased from www.istockphoto.com. Taste of Sarasota flavors funding for Realtor® Affordable Housing Fund

It’s almost time for this year’s big event of the fall – the 21st Annual Taste of Sarasota Chefs' Competition on Monday, Oct. 10 at the Hyatt and the Sarasota Family Festival on Main Street in Marc Pegram, head chef at the Venice Yacht Club, will once again stage the Ice Sculpture downtown Sarasota on Sunday, Oct. 23. event, Oct. 23 from noon to 4 p.m., with 7,200 pounds ice The Chef’s Competition culminates Waiter/Waitress Race, the Budweiser carved into a montage of tropical i fish for a gigantic icy aquarium. with the public announcement of beer tent and much more will winners and the People's Choice greet visitors. the evening event enjoy live competition at 7 p.m. on Oct. 10. The The actual Chefs' Competition will entertainment, food from the area’s top Family Festival on Main Street and take place at Palm Aire Country Club restaurants and a cash bar, then will Osprey from Pine to Links Avenue in (this event is closed to the public) the vote for their favorite restaurants. downtown Sarasota runs from 10 a.m. morning of Monday, Oct. 10, and will Proceeds from the Taste will benefit to 6 p.m. on Oct. 23. Both Taste events then move to the Hyatt in Sarasota for are once again co-sponsored by the Forty Carrots Family Center, All Faiths the public announcement of winners Sarasota Association of Realtors® and Food Bank, and the Realtor and the People's Choice competition. the Sarasota Chapter of the Florida Affordable Housing Fund. Last year, Restaurant Association. This year’s Chef’s Competition event $21,000 was raised to benefit the will be pre-sold, with only 850 Delicious food from 30 of Sarasota's Realtor Affordable Housing Fund. fortunate ticket holders, so get your most popular restaurants, cooking Watch for a special Sarasota Herald- demonstrations, live musical tickets today to enjoy the delicious Tribune Taste of Sarasota tabloid entertainment, quality local crafts, food, fun and excitement! insert in your Wednesday, Oct. 19 local attractions like Jungle Gardens, a Local chefs will create signature newspaper! The insert will include a children’s area, Ice Carving, the high- dishes for a chance to showcase their wide assortment of great information restaurants and own talents. Guests at stepping Cloggers, the ever popular Continued on page 28 Hurricane Katrina relief effort brings out best in real estate community The recent devastation brought by Hurricane Katrina to are in a position to assess their immediate needs with far the Gulf Coast region has produced an unprecedented better accuracy, placing funds quickly and where they are outpouring of concern and charitable contributions needed most. from the real estate community – locally, statewide By mid-September, Realtors® had collectively donated and nationally. almost $8 million toward relief efforts for Hurricane Here at home, the Sarasota Association of Realtors has Katrina victims, in addition to the industry's donations of helped raise more than $40,000 toward the massive effort goods and services and countless hours of aiding in by matching contributions from local Realtors up to temporary housing efforts. $10,000. Many brokers and affiliate members conducted The latest estimate from the American Red Cross shows fund drives of their own and emassed generous sums to that approximately 275,000 homes were destroyed in help in the recovery. Louisiana, Mississippi and Alabama—nearly 10 times as The crisis isn’t over yet, and may not be for years. How many as in any previous natural disaster in U.S. history. The can you continue to contribute? Red Cross also estimates that there are nearly a million Due to the scope of the disaster, SAR and FAR are victims of Hurricane Katrina who need assistance with asking that we process relief donations through the FAR everything from food and clothing to temporary housing. Disaster Relief Fund. FAR is in communication with, and is For more information on how you can help, visit the coordinating relief efforts with the Louisiana, Mississippi Hurricane Katrina Relief page at REALTOR.org. and Alabama state associations due to the vast number of —Haley M. Hwang for REALTOR® Magazine Online local associations affected. The affected state associations www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 5 Cover Story If you got your health insurance … You’ve got just about everything!

Editor’s note: As the end of 2005 approaches, federal legislation is moving closer to the President’s desk that could offer Realtors an opportunity to garner affordable health care insurance. This is the first part in a multi-issue series, examining the problem, and the possible solutions.

uninsured citizens are employed by The biggest issue impacting Realtors, locally and small businesses that cannot afford to offer quality health insurance benefits across the nation, isn’t the dreaded “bubble,” or to their workers. There may be an answer to the eminent domain, or the hurricanes, or even the problem just around the corner, but there has been significant and vocal affordable and workforce housing crunch. The resistance to the proposed federal t legislation offered as a remedy. number one issue, according to a recent NAR poll, is "America's 1 million Realtors look forward to working with Congress and lack of availability of affordable health care insurance. the administration to make sure association health plan legislation is enacted this year," said NAR President Al Mansell. "Most Realtors Of the more than one million are small business people or Realtors in the United States, independent contractors who struggle approximately 28 percent say they to find quality, affordable health care have no health insurance at all. This for their employees and families. figure has grown substantially from Association health plans will allow the 13 percent reporting no health small businesses to compete with coverage in1996, when coverage large employers for workers who need costs were much lower than today. good health care coverage for their families. These plans will also put self- The programs are known as employed workers on equal footing association health plans, and are with corporate employees and union designed to decrease health members when it comes to quality, affordable health insurance." costs for small employers, who The NAR recently applauded the usually pay higher prices than U.S. House of Representatives for large companies do for passing the Small Business Health workers' coverage. Fairness Act, H.R. 525. But similar legislation has been passed in the NAR is not the only group previous two House sessions, only to pushing for passage - a coalition die in the Senate before reaching the of more than 170 groups has President for his promised signature. already endorsed the association NAR is not the only group pushing for passage - a coalition of health plan (AHP) legislation. more than 170 groups has already endorsed the association health plan Only 7 percent of real estate firms (AHP) legislation. offer health coverage for independent contractors – the Here’s how it would work largest segment of the real estate The legislation, which is one of industry. Realtors are not alone in NAR's top priorities, will allow small this precarious situation, as a large businesses and self-employed workers proportion of America's 41 million to band together through a trade or

6 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com professional association to negotiate lower health insurance costs for participants. Small business health plans would operate under the same rules as federally regulated large corporate and union plans that provide group health insurance to all participants regardless of where they live. The programs are known as association health plans, and are designed to decrease health costs for small employers, who usually pay higher prices than large companies do for workers' coverage.

Realtors® sent more than 140,000 letters to members of Congress this spring and summer urging them to pass the bill.

In order to achieve cost cuts, the legislation would exempt the plans from state coverage mandate laws. These often include minimum maternity hospital stays, equal insurance limits for mental health treatments, and other requirements. Forty-nine states have some form of the mandates in place. These mandates drive up the cost of premiums, according to Rep. Sam Johnson (R-Texas), who leads the House subcommittee on employer- employee relations. And Rep. John A. Boehner (R-Ohio) has noted that what workers using the plans would lose in guaranteed coverage, they would gain back in cheaper insurance. President Bush pledged his strong support for the legislation in his speech at the Realtors(R) Midyear Legislative Meeting & Trade Expo in May, generating a standing ovation from thousands of Realtors®. Realtors® sent more than 140,000 letters to members of Congress this spring and summer urging them to pass the bill. Of course, as with every other issue impacting the nation today, there is division and disagreement, mainly Continued on page 39 www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 7 Lereah: Media reports on housing market are 'Irresponsible' By Kelly Quigley

"Is there a housing bubble?" "When will it burst?" afford and posing a higher risk of default. (To educate consumers on risky loans and abusive lending practices, NAR has It’s no surprise that those are the most frequently released a new brochure in partnership with the Center for Responsible Lending asked questions of David Lereah, chief economist for titled “Shopping for a Mortgage? Do Your Homework First.”) ® the National Association of REALTORS . But even in the most steamy of local housing markets, Lereah said there will i be no bursting bubbles. Rather, the air Lereah told attendees of NAR's will likely leak out gradually, returning Leadership Summit in Chicago in prices to more normal market conditions. August that these questions are valid, but the answers provided by some Ammunition for national media outlets are not. bubble questions “I see a healthy market with some growing pains, and they see a bubble Lereah knows that he isn’t the only about to burst,” he said of recent one being bombarded with “bubble” newspaper and magazine reports that questions. That’s why NAR’s Research predict a housing market bust. “They’re Department has developed a tool to help having, in my opinion, an inappropriate local and state associations deal with relationship with queries from their members and the the facts.” public, who may be looking for answers after reading negative news reports. Market in very NAR researchers have compiled good shape individual metro-area market reports that will be available to every association A close look at housing statistics in mid-September (now available at actually shows that the national market www.sarasotarealtors.com), with statistics has strong fundamentals, with a lean on affordability, housing supply, and supply of homes, a growing pool of economic factors that reveal the boom homebuyers, an improving job market, isn’t about to end, Lereah said. The and continued low interest rates, reports will come in an easy-to- Lereah said. understand format, complete with However, he acknowledged that local talking points association executives can markets differ. Some cities haven't seen use when dealing with reporters. close to the double-digit annual price The goal, Lereah said, is to show the growth experienced in the hottest public that the housing market is still markets, while in other areas home going strong, despite the “irresponsible” prices have soared out of reach due to a news coverage about housing bubbles. supply-and-demand imbalance. In San Francisco, for example, the median price “The good times are not turning bad,” now exceeds $700,000. Lereah said, predicting a healthy market through the remainder of the decade—as The widespread availability of specialty he did at last year's summit. “I’ve got mortgages, such as ARMs, interest-only credibility on the line. If I think the loans, and low-down payment mortgages, market is going to turn sour, I’m going to only compounds the problem in such say it.” pricey markets, Lereah said. Specialty mortgages can overstretch homebuyers' — REALTOR® Magazine Online credit, allowing them to buy a more expensive house than they really can 8 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com OOPPPPOORRTTUUNNIITTYY DDOOCCKKSS

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Broker participation welcomed. Prices, plans, dimensions and specifications subject to change without notice. Void where prohibited by law. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS ADVERTISEMENT AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. Another Quality EarthMark Community Governmental Affairs Update County to ask voters for tax increase for land purchases By Anne Merrill, Governmental Affairs Director

This November, Sarasota County will be conducting a referendum on extending the Environmentally Sensitive Lands purchase program and the City of Venice will hold tCity Council elections.

The small fall election cycle proceeds question would be on the ballot in ANNE MERRILL next year’s midterm elections for many March 2006. local, state and federal positions. And in Sarasota County’s one-cent sales tax preparation for 2006, we’re seeing a for infrastructure improvements expires great deal of discussion about future in 2009, and the County is currently Anne Merrill local referendums and state Cell: 941-544-4750 looking at proposing an extension vote constitutional amendments, and a lot of during 2007. The City of Sarasota is e-mail: [email protected] political positioning. considering a referendum on funding the Local referendum issues new police station, and there may be other infrastructure funding The Sarasota County Board of County considerations as well. The Sarasota Commissioners has proposed an County Planning Commission has extension of the one-quarter mill tax recommended a dedicated funding used for purchase of environmentally source for workforce housing, but At Presstime: sensitive lands, currently set to expire in there has been no further discussion Sarasota County 2019. The proposed change would on this issue. commissioners approved an extend the tax until 2029 and also ordinance on Sept. 20, calling increase the current $53 million cap. Florida Constitutional for a special election on Nov. 8 One proposal is to extend the cap to Amendments that will ask voters to extend $303 million and allow $150 million for Currently, there are about 50 citizen- the Environmentally Sensitive the current environmentally sensitive driven, constitutional amendment Lands Protection Program lands purchase and $100 million for initiatives on the Florida election’s (ESLPP). Voters will be asked urban open space, beachfront property website (http://election.dos.state.fl.us/ to extend the ad valorem tax at and neighborhood parks. The other initiatives/initiativelist.asp) with several the current rate of 0.25 mill for proposal is to limit the cap to $86 more in process. However, it is unlikely an additional 10 years. If million and eliminate the urban open that all of them will be on the 2006 ballot. passed, the measure would space requirement. raise the current $53 million Some of listed amendments including Public hearings will be held to the following: cap on bonds to $250 million determine which proposal reaches the toward the acquisition, ballot. There is also a possibility that • Require legislators to take the tenth protection and management of this referendum could be conducted by grade FCAT; environmentally sensitive mail, which would be a first for • Change the minimum voting age lands, while expanding its Sarasota County. to 16; scope to include a new The Sarasota County School Board is • Mandate that comprehensive land program for the acquisition of discussing the possibility of extending use decisions be taken to the voters neighborhood parklands. the current one mill school tax, whether (Hometown Democracy); Details will be published in in its current form or at a lower rate. If the SAR Weekly Update. approved by the School Board, this 10 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com

increase for land purchases

• Strengthen the requirements for fairer by Katherine Harris (R) and * In 2005, the Florida Legislature legislative district apportionment possibly other Republicans. enacted law that will eliminate (several amendments); • Congressional Representative: second primary elections, effective • Allow legislative review of service Currently Katherine Harris (R) January 1, 2006. taxes (John McCay); who is running for U.S. Senate with Additional information can be obtained • Allow instant run-off voting by Nancy Detert (R), Vern Buchanan for the County Supervisor of Elections allowing voters to rank candidates; (R) and Tramm Hudson (R) website at www.srqelections.com and declared for the race. the Florida Division of Elections at • Limit marriage, or the substantial election.dos.state.fl.us. legal equivalent, to one man and State and District Offices one woman. • Governor and Lieutenant Governor Other amendments in the discussion • Attorney General stage include an extension of the • Chief Financial Officer Save-Our-Homes cap to allow • Commissioner of Agriculture homeowners to carry their current Homestead Exemption cap into the • State Attorney (20th Circuit) purchase of another home, one time • Public Defender (20th Circuit) (portability); a proposed increase of the • State Senator (even- Homestead deduction from $25,000 to numbered districts) $50,000; and an amendment to allow stem cell research. • State Representative (all districts) In addition, the Florida Legislature, County Offices by House Joint Resolution, has Board of County Commissioners incorporated the following ballot • District 1: Currently David Mills, questions for voter consideration: who is running for Donna Clarke’s • Constitutional amendments would State Representative Seat. need at least 60 percent of the vote • District 4: Currently Nora Patterson, to pass; who is eligible to run again. • Term limits for state legislators School Board (3 members) would increase from 8 to 12 years (would not apply to current • District 1: Currently Carol Todd officeholders); • District 4: Currently Laura Benson • The amount of non-recurring • District 5: Currently Kathy Kleinlein general revenue dollars that can be Other local races will include used for recurring programs would Charter Review Board and Hospital be limited, plus the State will need Board positions. to develop a long-range spending 2006 Qualifying and Election Dates plan to mirror the its long-range financial outlook. Federal and Judicial Candidate Qualifying: Noon, May 8 to Noon, May Offices up for election 12, 2006 in 2006 State, County, District & Nonpartisan The following is a list of open Candidate Qualifying: Noon, July 17 to offices, including federal, state and Noon, July 21, 2006 local positions: First Primary Election: Sept. 5, 2006 Federal Offices Second Primary Election*: Oct. 3, 2006 • United States Senator: Currently General Election: Nov. 7, 2006 Bill Nelson (D) is being challenged www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 11 Stellar Staging Tips Is your client’s home really ready for potential buyers?

You’ve got the listing, set the price, placed the property in MLS. Now, how do you ensure your client’s home stands out in the growing sea of new inventory flooding this yred hot market?

Now, it’s all about staging. Here are some tips, many adapted from “HomeStaging: The Key to Successful Selling,” by Matthew Vossier and Liz Talbot, National Relocation & Real Estate, Vol. 13, No. 6. • Ask the sellers to clear out their closets and their clutter. Encourage them to hold a yard sale or donate unwanted household goods to charity. • Encourage the sellers to pack up extra toys, linens, small kitchen appliances, and the like and store them offsite or in the garage. • Be sure the trees are trimmed, the shrubs are pruned, and the lawn is mowed and watered regularly. Turn on the sprinklers for five minutes 30 minutes before the open house. It makes the lawn and driveway sparkle. • Ask the sellers to refrain from cooking anything that leaves a distinctive odor (fish, garlic, cabbage) and from introducing any other unappealing odors into the home. • Ask the sellers to have a professional service clean the home, including the carpets and the windows. • Set the dining room table with attractive linens, dishes, and stemware. • Ask the sellers’ permission to serve cookies and coffee; people will linger longer. But be sure to clean up any mess after the open house. • Arrange fresh flowers throughout the home and have a fire in the fireplace in fall and winter. • Add extra lamps in dark rooms or dark corners, and turn on the lights when you show the home to prospective buyers. • Remove stacks of magazines, ashtrays, sports trophies, family photographs, and other distractions. - Barb Schwarz, in “How to State Your Listings So They Sell Quickly,” The Real Estate Professional, July/August 1998 —Some of the tips in this section were adapted from “HomeStaging: The Key to Successful Selling,” by Matthew Vossier and Liz Talbot, National Relocation & Real Estate, Vol. 13, No. 6 12 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com A life rich with possibilities is right here at The W oodlands. It’s just so easy to get involved in your community, because everything—from r ecreation to education—is right outside your door. When you get i nto The W oodlands’ li festyle, you’ll appreciate what a smart choice you’ve made.

EVERYTHIN G A MA STE R-PLANNE D NEIGHBORHOOD S FO R EVERYON E. COMMUN ITY SHOU LD B E. Whether you ’re a young professional, a family with The W oodlands i s a wonderful place to come growing children or an active adult, The Woodlands home to. Lush landscaping, lakes and has a home for you in a neighborhood that suits natural wetlands are located throughout your lifestyle. Choose from a variety of home styles the community. Parks, playground and in a wide selection of home types. Whichever community swimming pools mean there’s captivates your imagination, you can be assured I-75 North always something to do. And you ’re buying a quality home built by a leading to Sarasota famili es will r eall y appreciate national builder, Centex Homes. Exit 179 that an elementary , middle Visit the temporary sales center, located and high school are between Dillard’s and JCPenney at the Port US 41 THE planned right within Charlotte Town Center Mall, call 941-627-9922 WOODLANDS I-75 South the community. or visit centexhomes.com. SALES to Ft. Myers CENTER NYSE CTX Mor tgage Company, Commerce T itle Company and Centex I nsurance Agency are subsidiaries of Centex and offer homebuyers the ease of one-stop CTX shopping. Br oker participation w elcome. Features, amenities, prices, rates, terms and availability are subject to change without notice or obligation. This material shall not constitute a v alid offer in any state where prior r egistration is r equired. CRC 058112 CGC 1505726 Save Our Homes: ‘A Ten Year Retrospect’ By Jim Todora, MAI, CAE Sarasota Country Property Appraiser In 1992 the voters of the state of Florida approved a constitutional amendment commonly referred to as Save Our Homes. This provision limited increases over the prior year’s Assessed Value of Homestead Exempt iproperty to 3 percent, or the change in the Consumer Price Index, whichever is less.

If the Homestead Exemption is What now seems like a meager interrupted, including a change in beginning at $179 million in 1995 has ownership, the assessment limitation is grown to more than $9.7 billion in 2005. removed and the property is assessed at The primary reasons for this include the JIM TODORA its current Market Value. Although cumulative effect on those parcels that passed in 1992, the first year of the have had uninterrupted Homestead assessment limitation was 1995. Exemptions, the appreciation in For more information, property values and the increased What now seems like a meager number of Homestead Exemptions. call the Property beginning at $179 million in However, the contribution that Appraiser’s office at 1995 has grown to more than Homestead Exempt property has made 941-861-8200 or visit to the overall tax base has remained $9.7 billion in 2005. www.sarasotaproperty.net constant at 38 percent to 40 percent throughout the 10-year period. The assessment differential is the While this Assessment difference between the Assessed Value Differential has created a shift in of parcels benefiting from Save Our Homes and their Market Value; this is the tax burden, it has had no often referred to as the “Cap.” The effect on tax revenues. following table shows the growth in the assessment differential from its first year While this Assessment Differential has in 1995 through the preliminary 2005 created a shift in the tax burden, it has assessment roll, as well as, the number of had no effect on tax revenues. This is Homestead Exempt Parcels and their because of the nature of property tax, taxable value contribution to the entire which is budget driven and not rate countywide tax roll. Continued on page 40

Value Homestead Homestead Homestead Year Cap In Exemptions Taxable Value T.V. as a % Millions In 1,000’s In Millions Of Total T.V. 1995 $179 88 $6,591 38% 1996 $281 90 $7,029 39% 1997 $310 92 $7,498 39% 1998 $744 94 $7,929 39% 1999 $1,080 97 $8,607 39% 2000 $1,400 99 $9,417 40% 2001 $2,009 101 $10,424 40% 2002 $3,358 105 $11,666 39% 2003 $5,373 107 $13,344 39% 2004 $7,199 110 $15,249 39% 2005 $9,716 112 $17,646 38%

14 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com ˜ INFINITE VIEWS. UNMATCHED RESIDENCES. LIMITED ˜OPPORTUNITY.

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To request more information or to schedule a private preview, please contact us via telephone or by visiting our website. Toll-Free: 877-388-2050 • 941-388-2050 • www.orchidbeachclub.com Broker cooperation welcomed Michael Saunders & Company Licensed Real Estate Broker A NOTHER Q UALITY DEVELOPMENTBY U.S. A SSETS GROUP Prices & features subject to change without notice. Offer void where prohibited by law. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS ADVERTISEMENT AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. CID raises funds to promote affordable, workforce housing

The local, regional, state and national housing markets have seen an integral to our overall community’s health and sustainability than most people might realize. A deficiency in affordable unprecedented boom period for price housing can be felt at the neighborhood level, all the way up to the corporate board rooms, and impacts many important tescalation, existing home sales, new home and vital issues. The recent CID Golf & Tennis at the Ranch event was a construction and low interest rates. But major success in this fundraising push, bringing in more than $27,000. After expenses, more than half of the funds will go ® one of the down sides of this toward the Realtor Affordable Housing Fund. The Realtor® Affordable Housing Fund was established to help address Sarasota’s affordable housing issues and extraordinary time has been the near initiatives. There are several other sources of income for the fund, including the upcoming Taste of Sarasota, set for Oct. collapse of the affordable and workforce 10 (Chef’s Competition) and Oct. 23 (downtown Sarasota); and Realtor Day. Private contributions are also accepted. housing market – particularly in the The fund, once it is further capitalized, will be utilized to: • Provide research for affordable housing issues Sarasota/Bradenton areas. (funds were expended to conduct the employee survey cited above) That’s why the Sarasota Association of Realtors and the • Provide education on affordable housing issues Commercial Investment Division of the SAR has been • Provide capital for affordable housing projects raising funds for the past two years to help promote and But perhaps the most important element of the fund is to achieve more affordable and workforce housing in our area. demonstrate the commitment of Realtors® to improving the The ability to locate and purchase a home within a Sarasota community through advocating affordable and family’s price range, and geographic work area, is far more workforce housing in a united, sincere effort. CID thanks all sponsors of this year’s tournament This year’s Commercial Investment Division Golf & Hole sponsors included: Tennis at the Ranch event drew nearly 100 golfers and Lakewood Ranch Realty Company, LLC tennis players, and generated approximately $27,000 in Alert Inspection Services, Inc. gross proceeds from participants and sponsors. Hurricane Glass Shield, Inc. 3M During a rather difficult time for fundraising, with Entrust of Tampa Bay, LLC Hurricane Katrina and Hurricane Rita impacting the Fifth Third Bank, Residential Lending U.S. mainland, the CID still managed to raise more than San Marco Development Company $10,000 toward the Realtor Affordable Housing Fund. Harshman & Company, Inc. Final tallies will be announced in next month’s magazine, Ian Black Real Estate and in the Sarasota Association of Realtor’s Weekly LandMark Bank of Florida Update e-newsletter. Preferred Commercial, Inc. Maddux Business Report Platinum sponsors ($5,000 donation) for this year’s event Atlas Insurance Agency were: Verizon Smart Park; and Neal Communities Lakewood Ranch Commercial Realty, Inc. Land Development. Gold Coast Eagle Distributing Gold Sponsor ($2,500) was RBC Financial Group. The CID Board of Directors and membership wishes to Silver Sponsor ($1,500) was Riverside Bank of the Gulf Coast. extend a sincere thank you to all who gave so generously Bronze Sponsors ($500) were: Osprey Real Estate Services; toward the goal of achieving quality and affordable workforce Hembree & Associates; Commercial Management & Leasing housing for the area. Corporation; and Homes by Towne. 16 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Commercial Investment Division

Commercial markets heat up near hurricane-hit areas

Editor’s Note: In the midst of the overwhelming human and economic tragedy of Hurricane Katrina, some surprising and enlightening bright spots have emerged, including the real estate boom in nearby Baton Rouge as displaced people relocate, and this informative story concerning the commercial sector growth near the storm’s landfall.

Demand for commercial real estate space has spiked in regions surrounding the Hurricane Katrina disaster zone, providing additional stimulus to major commercial market sectors that already were experiencing growth, according to the National dAssociation of REALTORS®' Commercial Real Estate Spotlight publication.

David Lereah, NAR’s chief end of 2006. Rent growth will rise economist, says key industries in the along with the new demand. affected zone must rebuild or relocate It isn’t known how much relocation to survive. will be permanent, says NAR “Over the last week, we’ve been President Al Mansell of Salt hearing about rapid absorption of Lake City. commercial inventories in nearby "There is a critical need for areas that survived widespread shipping, warehousing, and transit in hurricane damage," Lereah reported. the Mississippi delta region,” he says. "In addition, the need has extended “The question is how much rebuilding geographically to other areas with will occur in New Orleans and increased demand for space in stricken coastal areas, how much adjacent states. The greatest demand will be relocated to higher ground, appears to be in the industrial, and how much will stay in the areas multifamily and office markets, but that currently are experiencing the long-term impact from Hurricane increased demand.” Katrina is uncertain as displaced tenants rethink their future.” Ports in Tampa, Miami and Houston will likely see some With operations shifting away from industrial operations shifted away New Orleans - at least for the short from New Orleans. - National term - markets like Tampa, Miami, Association of REALTORS® Houston, Dallas-Fort Worth and Atlanta could see vacancy rates for Editor's Note: For more housing office and industrial space decline by market statistics and research reports, two to three percentage points by the visit www.sarasotarealtors.com. www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 17 Flipping Frenzy: Sold, sold, sold and sold again By Tracey C. Velt

Editor’s note: Investors are flooding Florida’s hot market, and many find short-term speculative buying — flipping — to be profitable and plentiful, especially in new construction. How do Realtors® fit in? Here’s a look at this market trend.

On one ordinary June day, Jeff Dudley bought four properties and had several more offers in the works. This sales manager with Century 21 Shaw Realty Group in Tampa isn’t planning to live in the properties. He’s planning to flip them. “I bought four houses oyesterday, and I spent eight minutes total thinking about those purchases. You have to know the marketplace, what makes for a good deal and be willing to buy the properties sight unseen.” He currently owns 12 properties, some under construction, two with tenants and the rest a mixture of condos, vacant land and single-family houses.

Because of restrictions by Realtor® (“Uncovering Lending Scrupulous investors can make good developers and builders on reselling Fraud,” February 2005), flipping fever money through speculative buying new construction, Dudley plans to has fueled incidents of fraud, such as without over inflating the market. hold on to and close on all his pre- appraisals falsified to bump up the And, with annual appreciation at 20 and under-construction properties value of properties. Also, flipping stirs to 30 percent in some Florida rather than assign or sell the contracts concern that too much equity churn markets, not everyone sees an end in and make a quick buck. “I personally can artificially inflate the market and the coming year. hold on to everything. I plan to close make a market correction (or burst And most experts agree that real on the properties [myself] and realize bubble) more likely. estate is a solid investment right now. the full rate of appreciation.” It’s important to note that not all “I make more money with my However, the market is rife with market watchers see all flipping as a investments than at my sales manager investors who buy preconstruction problem. “Florida has always been an job,” says Dudley. With a diversified condos and homes and assign their investor-driven market,” says J. Dan portfolio, a property flip here and contracts for profit before the Gilmore, president of the Florida there can be a great way to bring projects even break ground. This Homebuilders Association and in cash. practice, sometimes called flipping president of RGB Development in or speculative buying, has its pros Pensacola. “Condos that aren’t built An industry issue and cons, not the least of which is primarily for residential use have Obviously, investing in real estate is that it’s caused developers, unwilling been a [haven] for investors who are a good thing and, in most cases, to let investors become their tired of the volatile stock market.” flipping contracts and properties can stiffest competitors, to introduce Where the problem comes, says be a legitimate and ethical way to tough restrictions. Gilmore, is in single-family make money. From a legal point of preconstruction. “You see people view, says Kaplan, “the area in which Flip flap shop around, put $1,000 down and a real estate professional can expose Flipping can best be described this then flip the contract before the house him- or herself is by making way: An investor buys a property, is built. You’re never going to recommendations to prospective either preconstruction or existing, eliminate it, but builders are more buyers to buy property currently then quickly resells it at a higher price aware because the market is so good under construction and representing within a few months (or days in they’ve got plenty of real buyers. to that buyer that a big profit can be some cases.) They don’t need the spec buyers.” had before he or she has to close. In recent years, some professionals Flip side That kind of response may end up describe the assignment of contracts with the real estate professional as flipping as well. Sounds like a great Not everyone agrees that finding himself or herself at the end of way to make a quick dollar, right? Not flipping can cause a real estate the lawsuit, no matter how well- so fast. As reported in Florida market collapse. intentioned the advice.” Continued on page 40 18 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com

Nationwide joins homeowner insurance firm exodus

Florida's fourth-largest homeowner's insurance provider has announced it will stop writing new policies and is fcurrently reviewing its future strategies concerning the renewal of existing policies in the state.

The move makes Nationwide Insurance of Florida one Frank Kowalski, president of the Florida Association of of at least six companies that have stopped writing new REALTORS® and a broker with Metro Dade Realty Inc. policies since the active 2004 hurricane season. The move in Miami, says it's too early to tell if the Nationwide comes on the heels of an Allstate Corp. decision to cancel announcement will adversely impact the state's 95,000 policies in the state. Other companies that have homeowners. Kowalski served on the recent Governor's exited the market include Clarendon Insurance Group, Insurance Task Force and says FAR is keeping a close eye Select Insurance Group, and Safeco Insurance Cos. on the situation, particularly as it pertains to homebuyers' The news is anything but positive for homeowners, inability to obtain affordable coverage for their properties. many of whom have had to turn to the state-run "insurer "The insurers are understandably jittery, seeing that of last resort," Citizens Property Insurance, for coverage. we're in another active hurricane season," Kowalski says. The organization must provide coverage for homeowners "However, it seems that the insurance market has been who can't secure it in the private market, but prices are able to absorb the [cancelled policies] without having to generally higher than traditional companies offer. go to Citizens every single time." - By Bridget McCrea for REALTOR® Magazine Online

Study reveals fierce competition in real estate Despite substantial growth of the real estate business in recent years, competition for customers among real estate brokerages in local markets across the nation is fierce, according to a study of 12 residential real estate markets by researchers at dPennsylvania State University. Although patterns of competitive activity vary from property values by acting as a “market-maker”—allowing market to market, competition is strikingly high in all of sellers and buyers in each local real estate market to the markets included in the survey. In most markets, the better access locally-relevant information. market share held by top firms is shrinking. In seven of Markets included in the study were Tampa; St. Louis; the 12 markets, and four of the six largest, franchised Columbus, Ohio; Madison, Wis.; Lima, Ohio; Baltimore, firms have a larger percentage share of the market than Md.; Culpepper, Va.; Cumberland, Md.; Charlotte, N.C.; do the other locally-owned firms. Easton, Md.; Hagerstown, Md.; and Wilmington, N.C. All markets are growing, but growth is greater and The study is believed to be the largest of its kind using competition is more intense in larger markets. No single firm dominates any of the 12 markets; there are changes data from local multiple listing services as well as in relative market share of the top firms in each of the 12 information from interviews and other secondary sources. markets, market entry of new firms, and market exit of The study was funded by a grant from the National existing firms. Center for Real Estate Research of the National Association of REALTORS®. The study found evidence that national online access to local MLS data may be a critical factor in the surge in —NAR 20 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Present multiple offers objectively n n REALTOR® A listed Seller S’s involved. They make all sorts of demands for their clients and closings can be delayed. You

o don’t want that, do you? Things are almost o house. He filed the listing with always simpler when I sell my own listings,” i i he concluded.

the MLS and conducted ® t t Seller S, agreeing with REALTOR A’s advertising intended to interest reasoning, accepted Buyer B’s offer and the

c transaction closed shortly thereafter. c r prospective purchasers. Seller S’s Upset that his purchase offer hadn’t been accepted, Buyer X called Seller S directly and house was priced reasonably and asked, “Just to satisfy my curiosity, why didn’t A

A you accept my full price offer to buy your house?” Seller S explained that he had accepted attracted the attention of several another full price offer, had been concerned about Buyer X being able to obtain the necessary

n potential purchasers. financing, and had been concerned about delays n in closing if a buyer representative were involved i i in the transaction. Buyer B learned about Seller S’s property from REALTOR® A’s Web site, called REALTOR® A Buyer X shared Seller S’s comments with ® ® for information, and was shown the property by REALTOR R the next day. REALTOR R, in s s REALTOR® A several times. turn, filed an ethics complaint alleging that REALTOR® A’s comments had intentionally cast

c Buyer X, looking for property in the area, c Buyer X’s offer in an unflattering light, that his engaged the services of REALTOR® R as a

i comments about buyer representatives hindering i buyer representative. Seller S’s property was one the closing process had been inaccurate and ® of several REALTOR R introduced to Buyer X. unfounded, and that REALTOR® A’s h

h After the third showing, Buyer B was ready to presentation of the offer had been subjective and make an offer and requested REALTOR® A’s biased and in violation of Article 1 as interpreted t t assistance in writing a purchase offer. by Standard of Practice 1-6. ® REALTOR A helped Buyer B prepare an offer At the hearing, REALTOR® A tried to justify and then called Seller S to make an appointment his comments, noting that although he had no to present the offer that evening. E

E personal knowledge of Buyer X’s financial Later that same afternoon, REALTOR® R wherewithal, and while he hadn’t had a bad called REALTOR® A and told him that he was experience dealing with represented buyers, it bringing a purchase offer to REALTOR® A’s was conceivable that an overzealous buyer office for REALTOR® A to present to Seller S. representative could raise obstacles that might REALTOR® A responded that he would present delay a closing. Buyer X’s offer that evening. In response to REALTOR® R’s questions, That evening, REALTOR® A presented both REALTOR® A acknowledged that his comments offers to Seller S for his consideration. Seller S to Seller S about Buyer X’s ability to obtain noted that both offers were for the full price financing and the delays that might ensue if a and there seemed to be little difference buyer representative were involved were between them. essentially speculation and not based on fact. REALTOR® A responded, “I’m not telling you The Hearing Panel concluded that what to do, but you might consider that I have REALTOR® A’s comments and overall carefully pre-qualified Buyer B. There’s no presentation had not been objective as required question but that she’ll get the mortgage she’ll by Standard of Practice 1-6 and found need to buy your house. Frankly, I don’t know REALTOR® A in violation of Article 1. what, if anything, REALTOR® R has done to pre-qualify his client. I hope he’ll be able to get a Case #1-29: Multiple Offers to be Presented mortgage, but you never can tell.” Objectively (Adopted November 2002) REALTOR® A added, “Things can get complicated when a buyer representative gets www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 21

Sales and Listings for August 2005 Residential Sales Summary Sales Data* SARASOTA ONLY August 2005 August 1 to August 31, 2005 SALES as of SALES Aug. 31 ’05 Class Sales Average Sale Price Median Sale Price Sold Volume 2 – 3 4+ CONDO TOTAL Residential 569 $520,131 $387,500 $295,955,003 PRICE BDRMS BDRMS BDRMS CO-OP UNITS Condo 293 $499,785 $305,000 $146,437,031 $99,999 OR UNDER 3 1 0 0 4 $100,000-119,999 0 0 0 2 2 August 2004 $120,000-139,999 0 2 0 8 10 Class Sales Average Sale Price Median Sale Price Sold Volume $140,000-159,999 3 1 1 6 11 Residential 575 $412,627 $290,000 $237,261,065 $160,000-179,999 8 1 0 13 22 Condo 278 $369,644 $220,000 $102,761,166 $180,000-199,999 4 5 0 17 26 $200,000-249,999 18 30 3 34 85 Listings Data* $250,000-299,999 12 42 6 42 102 August 2005 $300,000-399,999 19 52 8 38 117 Class New Average List Price Median List Price Volume Listed $400,000-499,999 11 33 17 18 79 Residential 1185 $626,568 $399,000 $742,483,114 $500,000-749,999 5 47 32 37 121 Condo 611 $536,366 $369,900 $146,437,031 $750,000-999,999 1 13 17 14 45 OVER $1,000,000 3 25 21 27 76 August 2004 **TOTALS 87 252 105 256 700 Class New Average List Price Median List Price Volume Listed

**MEDIAN PRICE Residential 637 $536,633 $320,000 $341,835,440 $285 $382 $595 $309 $359 (in thousands) Condo 280 $460,546 $259,450 $128,953,027 **AVERAGE PRICE $333 $535 $828 $516 $540 *Figures represent all listings reported in the Sarasota Association of Realtors (in thousands) MLS. Figures include some Manatee, Englewood and Venice listings. TOTAL DOLLAR VOLUME TOTAL DOLLAR VOLUME TOTAL HOME SALES SINGLE FAMILY CONDOMINIUM DOLLAR VALUE $251,077,000 $132,222,000 $383,299,000

August 2005 Average Sale Price/Units Sold/Days On Market 850- Residential Sales Summary 800- Year to Date 750- SARASOTA ONLY January 1 to August 31, 2005 SALES as of 700- SALES Aug. 31 ’05 2 – 3 4+ CONDO TOTAL PRICE BDRMS BDRMS BDRMS CO-OP UNITS 650- $99,999 OR UNDER 30 1 0 4 35 600- $100,000-119,999 2 2 0 4 8 575 569 $120,000-139,999 2 2 1 12 17 550- 557 $140,000-159,999 3 6 0 17 26 500- $520,131 $499,785 $160,000-179,999 13 4 0 41 58 450- $180,000-199,999 25 15 0 63 103 $200,000-249,999 56 58 6 144 264 400- $412,627 $250,000-299,999 49 133 24 130 336 350- $369,644 $300,000-399,999 106 240 33 133 512 $329,490 300- $400,000-499,999 56 151 47 106 360 $291,163 293 278 $500,000-749,999 45 199 111 207 562 250- 270 $750,000-999,999 28 106 95 202 431 OVER $1,000,000 38 197 262 288 785 200- **TOTALS 87 252 105 256 700 150- **MEDIAN PRICE 124 $349 $469 $969 $529 $521 100- 112 110 (in thousands) 107 91 103 **AVERAGE PRICE 50- $537 $749 $1798 $827 $907 (in thousands) August ؅03 August ؅04 August ؅05 August ؅03 August ؅04 August ؅05 0- TOTAL DOLLAR VOLUME TOTAL DOLLAR VOLUME TOTAL HOME SALES SINGLE FAMILY CONDOMINIUM DOLLAR VALUE RESIDENTIAL CONDOMINIUM $2,121,687,000 $1,118,599,000 $3,240,286,000 AVE. SALE PRICE UNITS SOLD DAYS ON MARKET

These statistics were gathered from Sarasota Association of Realtors MLS on August 10, 2005. 22 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Florida’s Home Sales, Median Price Show Gains in August Sales of single-family existing Interest rates remained at homes in Florida rose 4 percent in favorable low levels last month, with August, following a dip in statewide the 30-year fixed-rate mortgage resale activity reported for each of averaging 5.82 percent; a year ago, it the previous two months, according averaged 5.87 percent, according to to the Florida Association of Freddie Mac. FAR’s sales figures Sale Price Realtors® (FAR). Statewide, a total reflect closings, which typically occur of 21,318 homes changed hands in 30 to 90 days after sales contracts Augusts 2005 compared to 20,491 are written. vs. homes a year ago. Other markets reporting higher The statewide median sales price sales last month compared to August List Price Rates rose 31 percent last month to 2004 include: Jacksonville, where Percentage of list price units sold for… $246,500; a year ago, it was $188,700. 1,796 homes sold for a 15 percent In 2000, the statewide median sales price for single-family existing In Sarasota, the median Single Family homes was $117,100, which 2004 2005 translates to an increase of about sales price for a single- January 95.7% 96.9% 97.8 percent over the five-year family home in August period, according to FAR records. February 96.5% 97.5% 2005 was $387,500, "A gentle slowing in growth rates compared to $290,000 in March 96.1% 97.9% associated with the Florida market April 96.8% 97.8% for existing single-family homes is August 2004. The number evident in the August 2005 data May 96.9% 97.5% of single-family homes (latest available)," said David Scott, June 97.1% 97.6% executive director of the Dr. Phillips sold in August 2005 was July 97.2% 97.4% Institute for the Study of American 569, compared to 575 in Business Activity and professor of August 97.2% 97.6% August 2004. finance at the University of Central September 97.0% Florida (UCF). "But consider that increase; and West Palm Beach- October 97.2% for the first eight months of 2005, unit sales have expanded by a Boca Raton, where 1,319 homes sold November 97.4% respectable 2.48 percent over the for a 5 percent gain. The median December 97.6% comparable eight months of 2004, sales price also rose in both markets: while for all of 2004 vs. 2003 the in West Palm Beach-Boca Raton, 27 growth rate in sales hit double digits percent to $411,400; and in Condominium at 10.74 percent." Jacksonville, 18 percent to $197,200. 2004 2005 He noted that just as double-digit Among the state’s smaller MSAs, the Gainesville market reported an January 96.5% 97.6% rates of growth are impossible to sustain in the overall economy, such 11 percent boost in home sales in February 96.2% 97.7% gains also are not sustainable in the August, with 352 homes changing March 96.1% 97.5% home resale market. It appears that hands compared to 316 homes a year ago. The area's median sales price April 96.6% 97.5% "a mild - and mild is emphasized - pullback in the overall robustness of rose 10 percent to $190,000; a year May 96.8% 97.8% the state existing real estate market ago, it was $173,100. June 96.6% 97.3% is in place," Scott reported. Other smaller MSAs reporting strong resale activity last month July 96.8% 97.7% The national median sales price for existing single-family homes was include: Fort Pierce-Port St. Lucie, August 97.4% 97.3% $217,900 in July, up 14.6 percent where 741 homes sold for a 16 September 97.2% from July 2004, according to the percent increase; and Tallahassee, ® where 570 homes sold for a 39 October 97.7% National Association of Realtors (NAR). In California, the statewide percent gain. The median sales price November 97..7% median resale price was $540,900 in in those markets also rose: in Fort December 97.0% July; in Maryland, it was $308,888; in Pierce-Port St. Lucie, 33 percent to New York, the median price was $267,600; and in Tallahassee, 4 $279,900; and in North Carolina, the percent to $163,800. average price was $212,600. – Florida Association of Realtors® www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 23 Education Programs

FREE Technology Programs from Your Family of MLS Advantage and Forms Online Gold will Realtor Associations—SAR, FAR and NAR demonstrate how easily you can search for listings throughout all participating MLS databases with one Ongoing Technology Classes simple tool. Plus, you will see how easily you can from SAR auto-populate listing information right into your free Forms Online Gold account. I Basic MLS Training Oct. 5 and 19 PlanetRealtor.com: After lunch, Brad will take you 9 a.m. and 1 p.m. on a tour of Planet Realtor where you can search public property records for counties throughout I Advanced MLS Training Oct. 6 and 20 Florida, get tech help in a hurry, and generate client 9 a.m. and 1 p.m. prospect lists and print labels—just for starters. Basic and advanced MLS training is a free service for SAR members. Phone reservations are required. FREE from NAR Please call Carolyn at 923-2315. I e-PRO Workshop with I iMAPP – Tax Program Mike Barnett Oct. 17 Dec. 8, 2005 9:30 to 11 a.m. 1 to 2:30 p.m. Free program – SAR Education Center No pre-registration required FREE to SAR Members Learn how to download the tax roll software, Increase your earning search, use the maps, compare properties, create power with NAR’s free e- labels for mailing and much more. PRO Workshop, presented by Mike Barnett, Vice Free from FAR President of Technology for ® MIKE BARNETT I MLS Advantage/Forms InternatCrusade . Designed Online to introduce Realtors to the- October 19, PRO designation course (the only online technology ® 10 a.m. to noon certification course offered by NAR ), this workshop will cover some really useful stuff: I Tour of PlanetRealtor.com • Create a permanent e-mail address October 19 • Create an e-mail marketing campaign with 2 to 3:30 p.m. software you already own Instructor: Brad Neff, FAR • Turn ordinary e-mail into marketing pieces Vice President for Marketing • Build your e-mail address book and Business Services BRAD NEFF FREE to SAR Members • Use auto responders Your FAR/SAR membership comes with a wealth • Create filters and unlimited e-mail addresses to of real estate information available through just one eliminate the hassle of SPAM portal—PlanetRealtor.com. Hurry and register today Register online at sarasotarealtors.com. First-come, – first-come, first served! Quick and easy online first-served. registration is now set up for both of these free programs that will immediately boost your business potential without costing you a cent!

24 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Education Programs

Designation Courses

Important: *The foundation and pre-requisite Attention Brokers and Managers: course to courses listed above, “Essentials of International Real Estate,” was offered at SAR How to Stay Out of Trouble earlier in the year. However, all is not lost. You can With FREC take the Essentials course online, complete the Instructor Daniel Villazon courses listed above, and apply for your CIPS of the law firm of Daniel designation without leaving Sarasota in 2005! Go to Villazon, P.A., will present http://www.realtor.org/international/index.html the seminar “How to Stay CIPS Investment and Out of Trouble With FREC” on Thursday, Oct. 20 from 1 Financial Analysis to 4 p.m. at the Sarasota Instructor: Barbara Rylands, CIPS, CRS, GRI Association of Realtors®. Monday-Tuesday, Nov. 7-8 Registration will begin Cost if received by Oct. 17: $275 at 12:30 p.m. Cost if received after Oct. 17: $315 Villazon is the former legal DANIEL VILLAZON CIPS designees: $30 counsel to FREC, FAR and Barbara Rylands, CIPS, from Orlando, FL is the the FLRE Appraisal Board. instructor for this capstone course in the CIPS The cost of the seminar is $10 for SAR members, and designation. Barbara was one of two instructors the presentation is considered a must for Brokers, chosen by NAR to teach the full CIPS Institute in managers, developers and sales offices. Rome, Italy earlier this year. The course will provide Learn the top 10 things to avoid losing your real the tools needed to present investment information estate license, plus the do’s and don’ts of selling real to international clients – in their currency and area. estate developments. The seminar will explain what You will learn how to measure investment to expect from a FREC audit. performance, prepare financial projections, and The following will be discussed: understand the effects of taxes and exchange rates on investment. • Bank statements/escrow accounts, handling of deposits and reconciliations Prerequisite Course: International Real Estate for Local Markets (formerly Essentials): In addition to • Disputed contract matters, as well as escrow the many live classroom offerings throughout the deposit disputes year, the "International Real Estate for Local • Review of sales contract matters Markets" (formerly Essentials) prerequisite course is • Proper signage available online through NAR's REALTOR® University. Internet-based, the course is instructor- • Proper licensing of salespersons and compliance led, but allows students to move at their own pace with continuing education requirements and "attend class" any time or place of their choosing • Required transaction notices in contract files during the month the student is registered. E-mail • Broker liability for single and multi- and threaded discussions allow students to network – office companies just like in a real classroom. Go to realtor.org and search on “CIPS” to register. • Operating procedures for escrow deposits and disputes Course Waiver: Those on track to earn the CIPS designation and who have passed the CCIM Intro, • Documentation between parties relative to CCIM 101, or CRS 204 courses, do not have to take deposits timeline and requirements this course. An HP-10BII calculator is REQUIRED • Advertising requirements and disclosures for this course. • Risk management Daniel Villazon practices law in Kissimmee, FL and can be reached at 407-438-0041, or at [email protected]

www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 25 Education Programs Designation Courses Mark Your Calendar Graduate, Realtor SAR International Council Institute (GRI) Courses for 2006 Expand Your Market The Florida Association of Realtors approved the Sarasota enjoys visitors and investors from many foreign following GRI courses to be offered in the Sarasota area in countries, particularly from Great Britain, France, 2006. These dates have been confirmed and are advertised Germany, Canada, and Russia. Completing a successful real here for you to mark your calendars. However, registration estate transaction with a foreign national presents special will not be opened until all the paperwork for the contracts challenges, but also has many rewards. Consider joining the is executed by FAR. As soon as registration is open, you SAR International Council and become a part of this will be notified through the SAR Weekly Update. As soon exciting and growing segment of the marketplace. SAR as possible, the course will also be available for online International Council holds frequent education programs registration at sarasotarealtors.com. and offers opportunities for networking. The Council is Venice AOR GRI 1 Jan. 30-31, Feb 1-3 also beginning to plan a major international real estate conference for 2006—so join today. Call Catherine SAR GRI 1 March 6-8, 13-15 McCaskill at 923-2315. Manatee AOR GRI 2 March 9-10, 16-17 ICREA's Transnational Referral Englewood Area BOR GRI 1 April 17-21 Certification Program Englewood Area BOR GRI 3 Sept. 18-22 For a complete listing of courses (and more courses may Learn how to make and receive compensated referrals be added before the end of the year) go to across borders with this new course by the International PlanetRealtor.com, select “Florida,” and then “Education.” Consortium of Real Estate Associations. Click here for more information on TRC. News Flash—GRI Course 1 Soon to Be ERC's Global Mobility Specialist Available Online for 45-Hours Post- Professional Training License Credit CIPS Candidates can earn points on the CIPS FAR’s Professional Development Chairman Steve David designation application by completing courses toward the announced at the FAR Annual Convention that the CRI Employee Relocation Council's Global Mobility Specialist Course 1 will soon be available online at PlanetRealtor.com. Professional Training. CIPS Designees and Candidates The course will offer credit towards the GRI designation receive a discount on this training program. Click here for and fulfill the 45 hour post-license education requirement registration information. for real estate licensees entering their initial license period. After registration, students will have a 90-day window to complete the course, which is expected to take 42 hours to complete exclusive of the examination.

CONGRATULATIONS!

Dedication and hard work pay off!! We congratulate our member who recently completed the requirements for the National Association of Realtors designation and certificate programs: Congratulations!Real Estate Buyer’s Agent Council ACCREDITED BUYER REPRESENTATIVE (ABR) Donna Baranowksi, Michael Saunders and Company Tara J. Lamb, RE/MAX Properties Graduate, Realtor Institute (GRI) Annette M. Betts, Prudential Cascade Realty Ryan Fielding, Billib Billib and Billib PA Sharon Young Leftwich, RE/MAX Suncoast Realty 26 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com There’s something new on the horizon ...be part of it in Punta Gorda.

...discover Ponce de Leon Luxury Condominiums now at Vivante.

Located in the extraordinary new community of Vivante at Punta Gorda, Ponce de Leon Luxury Condominiums redefine the idea of well-appointed living. Offering only twelve residences, this new neighborhood delivers privacy, prestige and stunning views of Charlotte Harbor. Each of the twelve condominiums feature granite countertops, Travertine marble floors, GE stainless Monogram appliances, Kohler faucets and fixtures, and eight foot sliding glass doors that highlight the magnificent waterfront. The community is rich with amenities, offering residents the ultimate luxury lifestyle. Ponce de Leon features a private resort-style, infinity edge swimming pool, a comprehensive fitness center, six Har-Tru tennis courts, and a two hundred foot fishing pier. The Grand Clubhouse provides a meeting place for residents, and will include theater, card and billiard rooms. Beautiful spaces, resort-style amenities, and waterfront vistas await you at Ponce de Leon Luxury Condominiums. VISIT OUR SALES CENTER 2950 West Marion Avenue, Punta Gorda, FL 33950 Tel: (941) 833-8999 • Toll Free: 1-800-901-0106 NEW NEIGHBORHOOD NOW OPENING! www.vivante-fl.com Ponce de Leon Luxury Residences from over $1Million I-75 to Exit 164, West 6 miles to Punta Gorda Isles A partnership of Lely Development and J.D. Allen

Broker participation welcomed. Oral representations cannot be relied upon as correctly stating the representations of the developer. For correct representations reference should be made to the documents required by section 718.503, Florida Statutes, to be furnished by a developer to a buyer or lessee. Not an offering where prohibited by state law. Prices subject to change without notice. Photography in this ad may be stock photography used to depict the lifestyle to be achieved rather any that may exist. LUXURY RESIDENCES Florida Broker/Manager Taste Continued from page 5 about the event, its beneficiaries Profitability Conference and presenters. Tickets are now on sale for the Chef’s Competition at the Sarasota Association of slated Oct. 13 Realtors® office, 3950 S. Tuttle Ave., Real estate professionals know that Tuccillo; an update on risk RE/MAX Gulfstream office on University managing a successful business doesn’t management and legal issues facing Parkway, and at All Faiths Food Bank, 717 happen by accident. It takes hard the marketplace; and a business model Cattlemen Road in Sarasota. Tickets are work, dedication and expertise to keep panel to discuss the impact of different $50 each; $75 for two. a brokerage running smoothly and brokerage models on real estate today. This year’s event will also feature a profitably. That's why brokers and The featured luncheon speaker will Silent Auction, with more than 100 managers interested in improving their be John Ansbach, who will offer tips packages, each valued at more than $100, businesses’ bottom line are planning to for "Game-winning Recruiting: Find available to attendees. The packages will attend the Florida Association of the Best from Every Generation." include a wide assortment of popular Realtors’® (FAR) sixth annual Florida Ansbach will provide insight into items, including golf packages at luxurious Broker/Manager Profitability generational recruiting to help brokers local country clubs, facials and manicures, Conference on Oct. 13. and managers meet the challenges of sports memorabilia, tickets to major area Taking place at the Renaissance finding and keeping the people they attractions and theme parks, and much, Orlando Hotel near Orlando's need to drive organizational much more. International Airport, the 2005 profitability into the future. Realtors® may also purchase an Broker/Manager Profitability Brokers and managers who want to attractive promotional sign, displayed at Conference offers participants the register for the Florida both the Chef’s Competition and chance to network and learn about the Broker/Manager Profitability downtown event, for $100. A special latest strategies for improving Conference should call the FAR package is also offered – for $160, profitability in today's competitive real Registrar at 800-669-4327. Register on Realtors® can purchase the sign AND two estate industry, including new trends in or before Sept. 30 for a cost of $130 tickets to the Oct. 10 event at brokerage management and tips for per participant. After that date, the the Hyatt. effective business leadership. cost is $150 and registrations will be Sponsors and volunteers are still needed Sessions include: a discussion on taken on site. FAR members can for The Taste of Sarasota! If you or your what's happening now in the real obtain a complete schedule and company would like more information on estate industry and what may lie ahead registration information by visiting sponsorship opportunities, please contact by leading real estate economist and www.planetrealtor.com. Susan Brooks of RE/MAX Gulfstream at former National Association of - FLORIDA ASSOCIATION 360-7777, or by email at [email protected] Realtors (NAR) chief economist John OF REALTORS You may also contact any of the following Program Committee members: Kris Niehaus (co-chair), 349-4478; D. Mark Agent assistants now have access Holley, 752-9210; Debbie Lane, 349-4478; Ruth Gonzalez, 921-4226; Robin Gruters, to all MLS agent functions 320-1071; or Kathryn Durno, 363-5015. Marketing opportunities are plentiful at Real estate Assistants are now able perform MLS functions. This is the this popular community events, and to perform all MLS functions for the second option under User businesses may donate “goodie bags,” and Agent they assist in the Sarasota MLS Preferences, which reads, "From this also participate through event t-shirts, and using their own MLS login account. section you can log in as the Agent all forms of media, TV, radio, print and Many members have requested that you are assisting". promotional literature. Unlicensed Assistants (AA) or Please note that the user must log Volunteers are also needed to make this licensed Assistants (AG) be given off, using the Log Off link in the event a success. For further information, access to manage prospects, contacts, upper right hand corner of the MLS visit the official web site of the event – CMA's and saved searches in addition screen, then log in as Assistant again www.tasteofsarasota.org to managing the listings for the Agent to go back to the Assistant MLS Current sponsors include: Sweetbay or Broker they assist. profile or to perform an MLS Supermarket, Countrywide Home Loans, The Association listened and we function for a different Agent Michelob, Pepsi, Exit Realty Gulf Coast, have now provided a solution to this specified in User Preferences. Comcast, Sarasota Herald-Tribune, request. Now, when Assistants log Remember to properly log off every ClearChannel Sarasota, WWSB Channel 7, into the MLS system, they can click time using the Log Off link in the Sunny 1220 AM, www.4sarasota.com, on Toolkit and User Preference to MLS system. Sarasota Magazine, Must Do, Spotlight select the Agent for whom they Graphics and the Hyatt Sarasota. 28 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com

New NAR Action Center: All NAR Members Are In

NAR’s Action Center (AC) is being upgraded to accommodate major change. Based on a recommendation of a NAR Presidential Advisory Group (PAG) appointed by NAR President Al Mansell, and with the approval of the NAR Leadership Team, nNAR is close to signing a contract with GetActive Software, of Berkeley, CA for a new grassroots platform to be utilized by NAR for its Congressional grassroots action.

This is not your father’s Action Center Among the outstanding features of GetActive are: • Capacity; the ability to send and receive millions of emails in just a few hours. • Hub features - the ability to provide both NAR and state and local associations control over grassroots content and messaging while sharing the same REALTOR® database. The new platform will also be made available to states • Easy to use response tools and reporting features. and local boards over the next several months. The new RPIC and FPCs will be able to easily track CFA AC is designed so that NAR, and state and local responses and send messages on to friends and REALTOR® boards can share - for the first time - the colleagues, as quick examples. same NRDS database for their grassroots. • GetActive has over 600 clients and includes notables Even more exciting for grassroots involvement is that like AARP, The Chamber of Commerce, AFL-CIO, all REALTOR® members are now members of the NAR and the American Red Cross. Action Center. The PAG and NAR leadership believe • GetActive was selected as the software of choice all REALTORS® are impacted by legislative actions and based on research by NAR, their grassroots need to be heard on issues important to them and consultants (American Strategies, Inc.), and their business. feedback from AE and GAD focus groups held Throughout 2005, NAR President Al Mansell has in July. stressed the need to have at least 500,000 REALTORS® NAR has identified two state and several local in the NAR Action Center, because Congress (and state REALTOR® associations to serve as beta test sites in legislatures) pays attention to their mail and constituents. preparation for rollout to associations scheduled over the “With nearly one million members of NAR in the several months. Action Center, our members now hold a powerful tool to By early September, the NAR Action Center was propel REALTOR® positions to Congress and seek their expected to be utilizing GetActive, while state and local action. This is a new day for REALTORS® in the nation’s beta testing in targeted boards is expected to be capitol. I want every member to respond to our Calls for completed this fall. Action. I never want to hear any member of Congress say State associations which choose to utilize GetActive and ® they have not heard from REALTORS ,” Mansell said. want it to be active as of Jan. 1, 2006 (before their state Members will have the option of opting out of any or legislature next convenes) will need to make their intent all grassroots notifications. known to NAR by the end of this month (October 2005).

30 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Get more done Boost your productivity by breaking your day into smaller, bite-size pieces By John D. Mayfield

How do you eat an elephant? One bite at a time. You may have heard that joke before, but you probably never thought about how it applies to your job as a real estate practitioner. If you’re like most salespeople, your daily schedule can look as large as an elephant—and it can be overwhelming to think about how you’ll get everything accomplished. hThis article is intended to help you favorite. Hence, the high rate of When you begin to focus on smaller get a grip on your daily tasks and burnout among real estate practitioners. time slots to accomplish your goals, become more productive by breaking So, how can you get all of your tasks you’ll see that devoting 15 minutes to a your day into smaller, manageable accomplished without going crazy? The task is not difficult. The time goes by chunks of time. answer is simple: start using the 15- so fast that you may find yourself First, answer the following 10 Minute Factor, a strategy that teaches spending more than just 15 minutes on questions with a yes or no: you to get more done by breaking your the project. You might even discover day into manageable modules. that a task you dread isn’t so bad after 1. Do you exercise daily? all. And once you complete your goal, 2. Do you read books to help further Take prospecting, for example. you’ll feel so good about yourself that your real estate career and Many real estate professionals get so you’ll be inspired to move on to the knowledge daily? busy with their daily schedules that next task. they fail to contact potential clients. 3. Do you spend quality time with Let’s face it, reading, prospecting, or family members daily? Prospecting is the lifeblood of any exercising for 15 minutes a day may sales associate’s career. Without it, not meet the recommended doses, but 4. Do you prospect for new your business will slowly dry up. clients daily? it’s a lot better than not doing them at By incorporating the 15-Minute all. And all of us can find at least 15 5. Do you stay in touch with clients Factor, prospecting becomes easier to minutes in our day to carry out these and customers regularly? tackle, and over time, you’ll cover an important “to do” items. 6. Do you send cards or notes to impressive amount of ground. I encourage you to take your daily friends, family, co-workers, or Prospecting 15 minutes a day for five calendar and map out some of your clients regularly? days a week quickly adds up. goals and daily tasks for tomorrow 7. Do you follow-up with past clients Let’s say you make three contacts into 15-minute segments. During one periodically throughout the year? per weekday during this 15-minute hour you can do four different 8. Do you review your goals and chart “prospecting” period. You will have everyday jobs that otherwise might your progress daily or weekly? made 15 contacts in one week, and at remain incomplete. least 60 for the month. That’s a huge 9. Do you spend time responding to Block your time slots on a calendar increase for most salespeople - your e-mails daily? and stick to them. Once you complete especially for those who are doing a task, check off the completed work. 10. Do you file and organize your desk no prospecting at all throughout and important papers daily? You’ll find that over the course of one the month. month, you can do much more than Of course, the list of daily activities The same principal applies to you thought possible and you’ll have a that you should be doing could go on reading, following-up with clients, and record of the progress you’ve made. and on. It’s no secret that one of the even exercising. Break these tasks into As the Chinese Proverb goes, “A biggest challenges for real estate 15-minute modules so you make professionals today is finding enough minute of time is an inch of gold.” So progress in all of the most important go out and make the most of your day! time to complete everything that should areas of life. get done during a normal workday, especially tasks that are your least www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 31 Texas Hold ‘Em Tourney could be big draw at RPAC Casino Night

Cable television has found a new favorite reality The Realtors® Political Action Committee (RPAC) program – Texas Hold ‘Em poker tournaments, of the Sarasota Association of Realtors will host its featuring professional gamblers, celebrities, and card annual fundraiser, which supports political activities of playing fanatics hoping to square off against a table of the association. Come mingle with celebrity waiters, like-minded individuals seeking fame and fortune. win prizes, participate in a Chinese auction, and play While you won’t win a million dollars on Friday, Oct. the tables with chips. The evening will be filled with 7 at the SAR Education Center on RPAC Casino Night, fun and surprises, so put it on your calendar now. you might feel like a millionaire as you sit down at the RPAC Committee members are now selling tickets local version of the Texas Hold ‘Em Tournament. for the big event, but only 250 people will be able to This year, RPAC has hired David Clower to stage the attend due to space limitations. The committee is also poker tournament portion of the event, which will be seeking sponsors, contributions, celebrity waiters and held in Conference Room A at the SAR. There will be participants, so do your part to make this local Las five tables of 10 players each to start the tournament Vegas-style night on the town be a big winner! and the entry donation is $20 per player. By the end Visit www.sarasotarealtors.com for the ticket order of each tournament, one player will emerge as the form and sponsorship form, and watch the Weekly Texas Hold ‘Em champion, and will be awarded a Update for more information and links to forms. special prize. For more information call Kathy Burns, 928-5193, or But the tournament won’t be the only big draw of the Maria Masucci, 308-3815. For ticket information, evening. Casino Night will also feature Blackjack, contact Fran Rosenstein, 725-2676 or email at Roulette and much, much more. The fun begins Friday, [email protected] Oct. 7 at 7 p.m. at the SAR Education Center.

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Rookie Corner Who’s Who in Real Estate?

It takes many players to put a real estate deal together and take it from contract to closing. Familiarize yourself with each of these players so that you can expertly guide your clients and customers through the buying or selling process.

For most of the professionals listed Insurance Agent Title Companies below,i it’s a good idea to have at least A person who sells insurance policies, Once the purchase contract on a two or three referrals on hand to provide such as homeowners’ and automobile property is completed, terms are agreed to your clients or customers as you go insurance. Typically, homebuyers need to upon, and financing arrangements have through the buying or selling process. show proof of homeowners’ insurance been made, the lender orders a title Approach the subject by saying, “Do you before or at the time of closing on the search of the property to be purchased. have a real estate attorney? If you don’t purchased property. Without this, some Depending on the region, a title company have one, I can give you a few names of closings can’t move forward as planned. or practicing attorney can conduct this attorneys that my office has worked with If you represent buyers, make sure they search. A title search is the examination in the past.” have secured a homeowners’ policy prior of public records to determine that the Appraisers to closing. person selling the property has the right A professional who estimates the value Loan Officer to sell it and the buyer is getting all the of a home to be purchased. In the An employee of a mortgage lender rights to the property. The title search purchase of a home, the appraiser is who helps borrowers secure financing for seeks to uncover any liens or other usually hired by the mortgage a home purchase. problems with the title. The title lender to determine whether the price company then works to fix any problems Mortgage Broker with the title before issuing lender’s title paid is in line with fair market value and An independent contractor who therefore justifies the mortgage amount. insurance, or the loan policy. The loan helps bring borrowers and lenders policy protects the lender’s interests in Buyer’s Attorney together by originating residential and/or the property. Buyers also may obtain an A real estate attorney who represents commercial loans offered by multiple owner’s policy to protect their interests. the buyer(s) in a real estate transaction. wholesale lenders. In some parts of the country, the seller Buyer’s Representative Mortgage Lender would purchase the owner’s title policy You’re a buyer’s representative if you A mortgage loan company that for the buyer—in effect telling them the have a contractual relationship with a originates, services, and sells loans to house they are buying has a clear title. In buyer to help the buyer purchase a home. investors or purchasers. other areas, the buyer must obtain the Client Seller’s Agent owner’s policy on his/her own. It’s a People with whom you’ve established a You’re a seller’s representative if you matter of custom so ask your local title contractual relationship to represent have a contractual relationship with a professional how it’s handled in them in the buying or selling of a home. seller to help sell a home (also often your area. Customer known as “listing agent”). Transaction Broker Buyers and sellers you do not Seller’s Attorney Also called a “facilitator” or “statutory represent but whom you assist in the A real estate attorney who represents broker” in some states, these terms refer purchase or sale of a home. the seller(s) in a real estate transaction. to real estate professionals who enter into a nonagency relationship with their Home Inspector Surveyor clients that is governed by statutorily- Most purchase contracts allow a buyer Usually on land deals, this person takes defined duties. The statutorily-defined to have a home inspected within five a legal description of the property and duties of a transaction broker replace the days of signing the purchase contract. A maps out the exact boundaries. The legal common-law agency principles that home inspector performs an inspection of description in many cases refers to otherwise govern the relationship the home to be purchased on behalf of physical landmarks. Those landmarks can between a practitioner and a client and the buyers in the transaction. The change over time—and there may be impose a fiduciary duty—or heightened inspector examines the home for unintentional or intentional legal duty—upon the real estate structural soundness and identifies encroachment by neighbors over time. professional who is in an agency recommended repairs in his or her Neighbors may have even been given relationship with a client. report. Depending on the area of the permission, for example, to put a country where you sell, common practice driveway on a neighbor’s property, but may include other types of inspections, when the house is sold, the driveway can including a termite inspection and a become a point of contention. radon inspection. www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 33 4October 2005 34 RReeaallttoorr®® EEttiiqquueettttee change thestatus. sold andthelistingagentdidnotbotherto research, onlytodiscoverthatapropertyhas is frustratedwiththeamountoftimeputinon t prior toitsexpiration. wassold from expiredwhen,infact,theproperty peeve isRealtorsnotpostingthestatuschange Real lifesituation your word,”appliesinthissituation. oversight candiminishthevalueofnetwork. fellow Realtorsfailtochangethestatusoftheirlistings,this limitless possibilitiesandopportunities.However, whenyour provides allofuswithalargenetworkinggrouprepresenting This Realtorjustworksonexpir I The oldexpression,“You’re onlyasgood Help outyourfellowRealtors: received aFaxfromRealtorwhosepet The valueofworkingwithasmanyRealtorswedo LR,31?#NW 2LTR.,?321??3#,NEW Sarasota Realtor Update yourlistingstatus



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Women’s Council of REALTORS® WCR Fashion Show was a big winner By Denise Leider REALTOR DENISE LEIDER

A big thank you is extended to everyone who attended the WCR Fashion Show on Aug. 19 at the Ritz-Carlton on the downtown Sarasota bayfront. It was a huge success aand a good time was had by all! I would like to extend a special thank you to everyone There are a few opportunities left for this year as a who helped make the show a success, especially Cathleen WCR member to network and make connections that Acosta, Amy Worth, Michelle Crabtree, Maria Masucci, could result in additional referral business and revenues. Susan Robinson, Fran Rosenstein, Janice Litke, Kathy Get involved today! In addition, as a WCR member a Gomez, Norm Mallard, Leslie Lauritano, Frank Leider portion of your out-of-town lodging expenses will be and Jane Mason. reimbursed by WCR. Michelle Crabtree won the Ritz package in the Chinese For more information regarding WCR, always feel free auction and Maria Masucci won the beautiful necklace to contact me, Denise Leider, 2005 President Sarasota donated by Janis Collier. There were many other great Chapter, at 228-0520, or the other WCR Board members: prizes that were won by several happy participants. President - elect, Amy Worth, 954-5454; Vice-President WCR will donate $500 to the "Women Build Project" of Membership, Debbie Lane, 349-4478; Treasurer, Michelle Habitat for Humanity. Crabtree, 907-1033; Recording Secretary, Kathy Burns, If you would like to get more involved in WCR 366-1300; or Corresponding Secretary, Maria Masucci, activities, please see the schedule below for the next 308-3815. program or contact one of the officers mentioned below WCR Where It All Comes Together! for additional information. • Friday, Oct. 14: 2006 Officer Elections & Lynn Denise Leider, REALTOR, ABR, CSP, e-Pro, GRI Burgess “Performance Under Pressure” at Michael’s on East Women's Council of Realtors 2005 President, Sarasota Chapter • Wednesday-Sunday, Oct. 26 – 30: San Francisco, ReMax Premier Services CA - WCR/NAR National Convention Cell 941-228-0520, Fax 941-926-8406 • Friday, Nov. 18: Installation Banquet at 5200 Ocean Boulevard, Sarasota, Florida 34242 Michael's on East • Date and location to be determined - PMN Course " At Home With Diversity" • Thursday, Dec. 8: Awards Program at Michael's on East

www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 35 Membership News The Association is pleased to welcome new members who joined in August 2005. Agee, Brian, RE/MAX Properties Starr, Kenneth, Alan J Stevens Fiscina, W Mark, RE/MAX Properties Baker, Leslie, RE/MAX Premier Services Strzempka, Cheryl, RE/MAX Properties Foster, Tierney, RE/MAX Gulfstream Banks, Anne, Coldwell Banker Res R E Inc Svirsky, Elizabeth, America 1st Realty Francis, P David, WEICHERT Realtors On The Key Barchard, Linda, Coldwell Banker Residential R.E. Thompson, Lucas, First Option Properties, Inc. Gaar, A Paulette, Wagner Realty Becker, Barbara, Becker Real Estate Company Tinney, Elfrieda, Owners Options Guentner Group Gibson, J Fred, Keller Williams Realty Behling, Richard, i Realty Inc Toner-Lankford, Tanya, SRQ Realty Greco, Cindy, Wagner Realty Beimann, Diane, RE/MAX Properties Tsekhanousky, Bronya, CENTURY 21 Advantage Realty Gregory, M Roy Ann, Mount Vernon Property Mgmt Inc Betts, Patricia, Michael Saunders & Company Tulman, Steven, Avalar Real Estate of Sarasota Grieshaber, Sallyann, Century 21 Sunbelt Realty Inc Biro, Csilla, Coldwell Banker Residential R.E. Turner, Karla, Realty Sales Inc Gruttadauria, Linnea, Able Realty of Saraosta Inc Bissonnette, Lisa Chimene, Wagner Realty Van Liming, Thane, Westcoast Realty of Florida Gulacsy, Adam, Coldwell Banker Res R E Inc Boucher, Steven, RE/MAX Properties Williams, Peggy, Horizon Realty Hackett, Linda, Michael Saunders & Company Brown, Joseph, Prudential Palms Realty Willman, Robert, Capital Properties & Services Haga, Elizabeth, WEICHERT Realtors On the Cir Burdick, Jessica, Sarasota Trust&Estate Property Wilson, Sandra Jo, Wedebrock Real Estate Co Hager, Diane, Michael Saunders & Company Cauthen, Peggy, Keller Williams Lakewood Ranch Woodroof, Charles, Coldwell Banker Res R E Inc Hall, K Rebecca, Signature Properties Coulter, Tracie, RoseBay Real Estate Inc Zapien, Elizabeth, Prudential Palms Realty Halsted, Tammy, RE/MAX Excellence Cox, Benjamin, Keller Williams Realty Zaremba, Maciej, Horizon Realty Hampton, A Stephen, Homes & Dreams Realty Inc Crawford, Patricia, Lakewood Ranch Realty Harding, Karen, Wedebrock Real Estate Co Cristello, Thomas, Cristello And Co Real Estate NOW WITH Harmon, Sandy, Wagner Realty Croitor, John, Horizon Realty Aborlleile, Josie, RE/MAX Gulfstream Realty Hawkins, Monica, Wedebrock Real Estate Co. DíUrso, Michael, A Young Realty Group Inc Alexander, Lohr Susan, Michael Saunders & Company Hentz, E Susan, Realty Sales Inc Davis, Glenn, Prudential Cascade Realty Anderson, D Sharon, Charles Rutenberg Realty Inc Hilliard-Carson, Della, Keller Williams Rlty-Manatee Decker, Janice, LaVista Homes LLC Ansilio, Sandi, Prudential Palms Realty Hoffmeier, S Malinda Ann, Lifestyles Realtors Delle Donne, Frances, Justice Realty Anzellini, Vincenzo, CENTURY 21 United Properities Hoffmeier, A Randee, Lifestyles Realtors Dial, John, Coldwell Banker Residential R.E. Arellano, Shirley, Prudential Cascade Realty Horstmann, M Victoria, Michael Saunders & Company Di Carlo, Deborah, Keller Williams Realty Avery, R Marie, Premier Team Inc Hurley, Tracey, Wagner Realty DiGiacomo, John, Crescant Beach Prop/Sarasota Baker, Leslie, RE/MAX Premier Services Ilsink, Dirk, Century 21 All Aces Realty Doherty, William, Keller Williams Lakewood Ranch Baron, S Cindy, Horizon Realty Isil, Nicholas, RoseBay Real Estate Inc Domingo, Raul, ERA Mount Vernon Realty Co Inc Barrington, H Diane, RE/MAX Excellence Jacques Villeneuve PA, A Jacques, Douglas, Peter, WEICHERT Realtors On the Cir Basile, S Kimberly, Waterside Realty LLC Keller Williams Platinum Rlty Eberhardt, Marc, Wagner Realty Baylan, B Bob, Keller Williams Realty Jensen, Elke, Horizon Realty Eden, Suzanne, John Eden Lic R E Broker Benford, A Linda, Thomas J George Realty Johnson, Guy, Coldwell Banker Res R E Inc Ewing, Kevin, Keller Williams Realty Berg, Ann Barbara, Global Realty Marketing Inc Kamins, M Nancee, Coldwell Banker Res R E Inc Forrester, Alan, Prudential Cascade Realty Berger, A Patricia, Horizon Realty Kasprzyk PA, Samantha, Paul Gallizzi Real Estate Forst, Aileen, Horizon Realty Bissett, D Elizabeth, ERA Mount Vernon Realty Co Inc Kazanciyan, Y Eddie, Horizon Realty Gingerich, Rhonda, Good Choice Realty Blackford, Andrea, Prudential Cascade Realty Kelley, E Sandra, Lakewood Ranch Realty Gotthelf, Ruth, Lakewood Ranch Realty Boehm, C Nancy, Michael Saunders & Company Kelley-Hood, J LeAnna, Wedebrock Real Estate Co. Grisalez, Rocio, First Option Properties Inc Bohack, Bill, Paradise Referral Real Estate Kiser, E Shawn, Coldwell Banker Res R E Inc Harvey, Don, RE/MAX Gulfstream Realty Bright, T David, RE/MAX Gulfstream Realty Kokesova, Michaela, Horizon Realty Heelan, Margaret, Sun Coast Real Estate LC Bronkie, Patti, Realty Quest Kolaz, Carla, Michael Saunders & Company Hicks, Grace, Keller Williams Platinum Rlty Brough, Sandra, Prudential Cascade Realty Kralik, P Shadrick, RE/MAX Properties Howes, Alan, Botanica Realty Group Browne, S Staley, ERA Mount Vernon Realty Co Inc Ladzinski, Vanessa, Casa Blanca Vacation Rentals Huffman, Michael, Mapp Realty & Investment Co Brownell, Pam, Prudential Cascade Realty Larson, M Jayme, WEICHERT Realtors On the Cir Insalaco, Susan, O’Connor & Assoc Of Sarasota Browning, R Haburn, Horizon Realty Lashley, C James, Homes & Dreams Realty Inc Jean Louis, Ronald, Keller Williams Realty Burnside, BJ, Wagner Realty Lella, F Kathleen, Homes & Dreams Realty Inc Johns, Tina, Coldwell Banker Res R E Inc Butler Jr, J David, Realty Executives Solutions Leonard, A Deborah, Prudential Palms Realty Kalo, Lisa, Lakewood Ranch Realty Byram, D Timothy, Real Estate Referral Results Leopold, B Arthur, Lakewood Ranch Realty Kessel, Kristina, Michael Saunders & Company Callaway, Kelley, Coldwell Banker Res R E Inc Leopold, T Tara, Lakewood Ranch Realty Koenig, Leonard, Sellstate Best Coast Realty Capps, E Richard, RE/MAX Gulfstream LeVan, L Nanette, Owners Options Guentner Group Krohngold, Judy, RE/MAX Properties Carte, L Susan, RE/MAX Properties Levison, R Judy, Homes & Dreams Realty Inc Lemieux, Denise, Coldwell Banker Res R E Inc Chaffee PA, L Debra, Lakewood Ranch Realty Lewis, Lee Tina, Wedebrock Real Estate Co. Linscott, Pamela, SunVast Management & Services Clark, L Louise, Keller Williams Realty Logan, N Mimi, Horizon Realty Loughrey, Brian, Vestor Realty LLC Cobb, Katherine, Keller Williams Rlty-Manatee Lopez, G Manuel, RE/MAX Suncoast Realty MacKinnon, Karen, Coldwell Banker Res R E Inc Coleman, Deborah, Mark Riley Luxury R E Group Lyons, A Jill, Horizon Realty McConnell, Oliver, Coldwell Banker Res R E Inc Coles PA, W Roger, Roger W Coles P A Mac Innes, L Karen, Homes & Dreams Realty Inc McKenna, Judy, Waterside Realty LLC Connors, Robert, WEICHERT Realtors On The Key Madrigal, A Francisco, Cloud Nine Realty Inc Nathan, Jack, Keller Williams Realty Cowdrey, E Earl, Wagner Realty Manville, Carol, WEICHERT Realtors On The Key Nathan, Morgan, Keller Williams Realty Craft, C James, RE/MAX Gulfstream McCharen, Marni, Keller Williams Realty Neely, Charles, CENTURY 21 Advantage Crandall, D Rosemary, Great American Realty Group McDonald, S Michael, Sunray Realty LLC O Connell, Linda, Keller Williams Realty Cuddy, B Shirley, ERA Mount Vernon Realty Co Inc McDonald, G Barbara, Michael Saunders & Company OíDonnell, Jozel, Coldwell Banker Residential R.E. Culhane, J Brenda, Brenda Culhane Lic R E Broker McDonald, M Andrew, Coldwell Banker Res R E Inc O Grady, Patricia, Waterside Realty LLC Dabney, Mary Ann, Coldwell Banker Res R E Inc McKenna, Judy, Waterside Realty LLC O Hara LLC, Dale, RE/MAX Properties Davenport, Joan, Prudential Cascade Realty McLaughlin Jr, Richard, RE/MAX Properties Pflueger, Karen, Lakewood Ranch Realty DiChiara, Joanna, Waterside Realty LLC McMahon, Landon David, Michael Saunders Potter, Elizabeth, Keller Williams Lakewood Ranch Dorety, J Carol, SRQ Realty & Company Rangel Marrero, Jessica, Horizon Realty Downey, Richard, Lakewood Ranch Realty Mengelberg, E John, RE/MAX Suncoast Realty Rankin, Amber, WEICHERT Realtors On the Cir Dumbaugh, C Barbara, Michael Saunders & Company Metcalf, J Sarah, Horizon Realty Redding, Keith, RE/MAX Properties Dunham, L Eric, ERA Mount Vernon Realty Co Inc Meyer, M Jenine, Wedebrock Real Estate Co. Reed, Jeffrey, Coldwell Banker Res R E Inc Durno, Kathryn, Wells Fargo Home Mortgage Migone, Michael, ResortQuest R E of SW Florida Resh, Sanford, Laurel Oak Lifestyles Realty D'Urso, A Michael, A Young Realty Group Inc Minev, Antoaneta, RE/MAX Premier Services Rhind, Kim, Cagan Brewer Realty Eden, Suzanne, John Eden Lic R E Broker Mock, Jr., D George, Cristello And Co Real Estate Sanders, Douglas, Wagner Realty Eden, E John, John Eden Lic R E Broker Morieko, Gabrielle, RE/MAX Excellence Sawyer, Frederick, Keller Williams Realty Elario, A Robert, RE/MAX Properties Moscato, C Rick, Coldwell Banker Res R E Inc Shaffer, Deborah, Keller Williams Realty Esses, Ellen Laura, WEICHERT Realtors On The Key Olson, G Margaret, Coldwell Banker Res R E Inc Slater, Marina, Coldwell Banker Res R E Inc Falconer, A Karen, U S Realty & Associates O'Ski, Ruth Ann, Global Realty Marketing Inc St James, Carol, Keller Williams Realty Farmer, T Edward, Owners Options Guentner Group 36 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Membership News Owen, B David, SRQ Realty New Affiliate Members Paradise Home Inspections Parrish, Julie, Wagner Realty The Preston Group 703 Corwood Drive Payton, L Sabrina, Keller Williams Lakewood Ranch 7408 Dickens Drive Sarasota, FL 34234 Peens, Kim, Peens Property Group Inc 941-302-3843 Pellet, Michelle, Carefree Realty LLC Sarasota, FL 34231 941-685-3605 Representative: Zorn, Chris Penny, A Pamela, Coldwell Banker Res R E Inc Home inspections/consultation Peoples, J William, Assist2Sell Coast & County Rlt Representative: Marina C Preston Perez, Rogelio, LaVista Homes LLC Advertising Performance Copying & Printing Perry, Janice, Michael Saunders & Company Parkland Development Corp 3333 N Tamiami Trail Suite 110 Pierce, J David, Florida Real Estate Gateway 1515 S Federal Highway #102 Sarasota, FL 34234 Porter, Merry, RE/MAX Properties Boca Raton, FL 33432 941-351-5500 Potter, A Elizabeth, Keller Williams Lakewood Ranch 561-393-7474 Representative: Levison, Steven Pribislavski, Nadia, Mapp Realty & Investment Co Representative: Harold Tomlinson Digital printing/copying Prymmer, Susan, Coldwell Banker Res R E Inc Rauch, W Martin, Rauch Inc Development American Home Shield Rausch, D Glenn, Homes By Towne Realty Inc Instant Interiors 1011 68th St NW Reed, Pourussadat, RE/MAX Properties 869 S Orange Ave #303 Bradenton, FL 34209 Reed, A Gabriel, Keller Williams Realty Sarasota, FL 34236 800-800-8880 Rekow, H David, Bamboo Realty Inc 941-400-4416 Representative: Cloud, Leigh Reynolds, Greg, Prudential Cascade Realty Representative: April Mast Home Warranty Ridge, P Wayne, Homes & Dreams Realty Inc Interior design/organization Real Estate Direct Magazine Rivera, Pilar, Keller Williams Lakewood Ranch 4465 B Placida Rd Roberts, L Marsha, Horizon Realty Wells Fargo Home Mortgage Englewood, FL 34224 Roberts, A Gary, Bamboo Realty Inc 1819 Main Street #700 Rodrigues, Vinola, Able Realty of Saraosta Inc Sarasota, FL 34236 941-697-7863 Rothard, Anita, Homes & Dreams Realty Inc 941-363-5002 Representative: Kane, Matthew Russell, Bernard, Coldwell Banker Res R E Inc Representative: M. Scott North Publishing Sambolin, Maria, Chase Home Finance Mortgage Lending a la mode inc Sanderson, P Richard, RoseBay Real Estate Inc Bank of America 3705 W Memorial Bldg 402 Sandry PA, Pat, RE/MAX Properties Oklahoma City, OK 73134 Saunders, Michael, Michael Saunders & Company 1605 Main Street Ste 102 Sarasota, FL 34236 800-252-6633 Saunders, Michael, Michael Saunders & Company Representative: Bish, Carissa Scheerle, Fred, Opteum Financial Services 888-852-5000 Web-creation software specialists Schmitt Finelli, Margaret, ERA Mount Vernon Representative: Nilvfer Filiz Realty Co Inc Business Banking World Leadership Group Shah, Chuck Chandrakant, SRQ Realty Aclarian Mortgage 6151 Lake Osprey Dr Suite 346 Shaynurov, Azat, Horizon Realty 6751 Professional Pkwy W #104 Sarasota, FL 34240 Shedelbower, Rose Phyllis, Capital Properties Sarasota, FL 34240 941-758-5690 & Services 941-232-8235 Representative: Lam, Randy Shirley, Justin, Robert F Drabik Lic RE Broker Mortgage, Real Estate and Financial Service Sholtis, S John, Keller Williams Realty Representative: Scott Jessen Siegel, Robert, Shore To Shore Rty of Sarasota Mortgage Engineered home Inspections Silvestri, M Kevin, Coldwell Banker Res R E Inc Sarasota Mortgage Company 5053 Ocean Blvd Suite 293 Slater, Heidi, Keller Williams Realty 630 S Orange Ave Ste 200 Sarasota, FL 34242 Smith, D Josephine, RE/MAX Gulfstream Sarasota, FL 34236 941-685-2184 Smith, R Cynthia, Joseph Russo Lic R E Broker 941-330-8950 Representative: Tucker, Ben Spano, Geraldine, Century Bank Representative: Linda S Bailly Home Inspections St James, Carol, Keller Williams Realty Correspondent Mortgage Lender Profile Sarasota & Manatee Inc Stephan, M Diane, Wagner Realty Stone Jr, Wallace John, Vantage Realty of Florida Inc Fifth Third Bank 1734 Main Street Storey, Rick, RE/MAX Tropical Sands 6968 Professional Pkwy Sarasota, FL 34236 Strezenicky, Dagmar, Property Lux LLC Sarasota, FL 34240 941-957-1200 Suckow, M Helene, Coldwell Banker Res R E Inc 941-388-6714 Representative: Buck, Jennifer Suckow, E Richard, Coldwell Banker Res R E Inc Representative: Craig Foley Auxillary member: Buck, Jeffrey Sullivan, A Elizabeth, ERA Mount Vernon Realty Co Inc Mortgage Marketing Services Swan, Sandy, Siesta Tom Nay Real Estate ForeclosureForecast.com Talamo, Elaine, Lakewood Ranch Realty Innovative Agent Services Tarr, K Ronald, WEICHERT Realtors On the Cir 2945 Bee Ridge Road 5217 Fruitville Road #201 Taylor, G Thomas, Wedebrock Real Estate Co. Sarasota, FL 34239 Sarasota, FL 34232 Tromba, Frank, Mapp Realty & Investment Co 941-921-5027 941-302-1323 Trusik, Kimberly, Mapp Realty & Investment Co Representative: Darling, Tina Representative: Haggard CCIM, Sue Turner, Karla, Realty Sales Inc Real estate assistance-Website, email, flyers Pre-foreclosure database Manatee/Sarasota Utain, Warren, WEICHERT Realtors On the Cir AAA Flat Rate Moving Villeneuve, G Nathalie, Keller Williams Platinum Rlty Stock Development Weddell, Q Jerry, CENTURY 21 Advantage 6174 Clark Center Ave Weinberg, Alexander, International Project Realty Sarasota, FL 34238 C/O 27130 Esther Drive Weiner, M Anne, Keller Williams Lakewood Ranch 941-922-4466 Bonita Beach, FL 34135 Wexler, P Steven, Nautilus Properties LLC Representative: McClean, Joy 239-273-6041 Wingardh, Christer, Monte Davis Realty Full service packing, moving, storage. Representative: Babcox, Marcy Wren, M Timothy, Ken Brand Lic R E Broker Local/nationwide Developer of country club communities Yusko Jr, Michael, WEICHERT Realtors On the Cir Home Buyers Warranty Lee/Charlotte Zaroba, Debbie, Prudential Palms Realty 7856 Lake Sawgrass Loop Ft Myers, FL 33907 239-482-0099 Representative: Fuss, Mary Lou Home warranty coverage www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 37 Joe Hembree Helen Sosso Kris Niehaus Steve Bailey Lee Gerletti

David Groom II Judy Hockett Brian Kennelly Roger Piro Erick Shumway Annual Installation Banquet slated Dec. 7 at Michael’s on East

This year’s Sarasota Association of Realtors® Installation Banquet is set for Wednesday, Dec. 7 at Michael’s on East in Sarasota. The big event will combine the installations of the SAR 2006 Officers and Board of Directors with the installation of the Commercial Investment Division’s officers and directors. tJudy Schomaker, President of the SAR Board for President-elect -Joe Hembree of Hembree & Associates; 2005, will provide a review of the year’s activities and Treasurer -Helen Sosso of Prudential Palms Realty; accomplishments, plus announce the winner of the Realtor® of the Year award, the Humanitarian of the Secretary - Kris Niehaus of Century 21 Advantage Year award, and the Meritorious Service award. Five directors were also Installation of the 2006 CID Officers and Board will elected to serve 3-year follow, with a talk by incoming CID President Steve terms (2005-2007): Eric Ross, who takes over for Janet Robinson. Shumway of RE/MAX Suncoast Realty; David Installation of the SAR Officers and Board will be Groom of Sylvia A. next, followed by a talk by Felix Power, 2006 Groom; Roger Piro of incoming president. Century 21 Advantage; The SAR elected its 2006 Officers and Directors Judy Hockett of RE/MAX during the Annual Membership Luncheon on Sept. 28. Properties; and Steve The 2006 Board President will be Felix Power, who Bailey of Michael continues as one of Coldwell Banker’s top agents, Saunders & Company. achieving membership in the real estate firm’s One director, Lee Diamond Society and International President’s Circle. Gerletti of Keller Williams Power has also been active in SAR activities for the Realty, was elected to past several years. serve a 2-year term (2005- Association members also ratified the elections of 2006); and one director, Brian Felix Power the following SAR officials: Kennelly of Osprey Real Estate Services, was elected to serve a 1-year term (2006).

38 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com MLS fines double with MLS Health Rules and Regulations update Insurance … Continued from page 7 An MLS service is only as good as - $100 for failure to file a certificate the rules and regulations that govern in broker’s office that owner does along party lines. While most its proper usage. To ensure the system not desire the listing to be Republicans, and many Democrats in is used as intended, fines are imposed disseminated by the service the House, believe the legislation on those who frequently violate these (Section 7.3G). would reduce the number of good practices. - $50 fine for failure to enter the uninsured substantially, some After a review of the MLS files, the property ID number from tax rolls Democrats in the Senate believe it MLS Committee recommended and (or temporary number assigned by would be ineffective. They say the the SAR Board of Directors approved the MLS) correctly (Section 7.3H). exemptions built into the bill could allow plans to "cherry pick" the doubling of fines for MLS Rules - $100 per business day from the and Regulations. Here is a list of the time of notification, for entering only the youngest and healthiest current fines: prohibited information in the workers, leaving sicker and more - $150 for late fees for non-payment General or Marketing Remarks expensive workers with basic, of financial obligations. Fee for section (Section 7.3I). inadequate insurance. reinstatement of service, if service - $100 fine for failure to report the "This bill will not result in a was terminated due to non- correct cooperating broker reduction in the number of payment of MLS fine two months information on a sold listing uninsured," said Rep. Robert E. after the due date (Section 7A). (Section 7.3J). Andrews (D-N.J.). "When the - $100 for failure to pay any fine - $100 for failure to correct data premiums go up on the rest of the assessed by the Multiple Listings within three business days when pool, fewer people will be insured." Service within 10 days; MLS notified in writing by the MLS staff Consumer groups are also in service will be suspended until the (Section 7.3K). opposition to H.R. 525 and the Senate fine(s) are paid in full (Section 7B). - $100 for failure to submit requested version, claiming they avoid state - $100 for failure to file a listing documentation to the Service coverage minimums and would within three days, weekends and within 24 hours, weekends and effectively operate outside of state holidays excepted, after all holidays excepted (Section 7.3L). laws which prohibit insurers from required signatures are received denying coverage or charging higher (Section 7.3A). - $500 fine for breaching on-line security by disseminating your prices to businesses based on their - $100 per business day from the MLS Password (Section 7.3M). workers' health status. time of notification, for failure to The House bill is actually at least disclose Limited Service or MLS All listings to be entered into the the eighth time association health Only broker status in the MLS MLS with a minimum of one photo of plans legislation has passed the House System (Section 7.3B). the listed property. Section 1.4g PHOTO of the MLS Rules and of Representatives, only to be - $50 for failure to file a change Regulations states: All listings will be blocked by the Senate. of status with the Service within submitted with a minimum of one President Bush has released a three days, weekends and photo of the listed property unless the holidays excepted, after all statement praising AHPs as "a fair, seller requests in writing that no innovative, and common sense required signatures are received photo be used. For commercial approach to make health insurance (Section 7.3C). listings, the listing broker may choose more affordable and accessible," and - $50 for failure to file a contract to provide an appropriate drawn site he again urged the Senate to pass a pending report to the Service description in lieu of a photograph. within three days, weekends and Reciprocal listings must be submitted bill legalizing AHPs. Such legislation holidays excepted (Section 7.3D). with a minimum of one photo unless will likely be addressed in the 2006 congressional session. - $50 for failure to file a back on the the seller has requested in writing that market report to the Service within no photo be used. For more on this major issue three days, weekends and holidays Change your MLS password to impacting the real estate community, excepted, of determination that ensure the security of your MLS visit www.naractioncenter.com and consummation of sale is no longer account. Each member is now able to click on Key Issue Summaries at the possible (Section 7.3E). change their own password at will, by top of the page. - $100 for failure to file a contract logging into the www.sarasotamls.com Read the November issue of closed (sold) within three days, website and accessing Tooolkit and Sarasota Realtor Magazine for the weekends and holidays excepted, User Preferences menu option. next in a series of articles updating of date of closing (Section 7.3F). Change password is the first available the local real estate community on function at the top of the User this important and evolving issue. Preferences screen. www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 39 Save Our Homes Continued from page 14 driven, and has been evidenced by the For more information, or to Cap, should they be permitted to increasing tax revenues throughout share your opinion on this apply that Cap to another property the 10-year period. that they buy and establish as their topic with Jim Todora, Under the current law, once the new homestead? These proposed property is sold the Cap is removed Sarasota County Property resolutions never made their way to and the property is assessed at its Appraiser, call 941-861-8200, the full Legislature for a vote. Bills containing similar resolutions are Market Value. During the past two or email through the web site, regular Florida Legislative sessions, expected to be submitted again this resolutions have been proposed to ask www.sarasotaproperty.net legislative session, and I am interested in hearing your opinions on this the voters if the accumulated cap on In other words, for example, if a Homestead Exempt property should subject if you would like to person sells their Homestead Exempt share them. be retained and applied to another property that has in place a $100,000 home purchased by the seller.

Flipping Frenzy Continued from page 18 According to the NAHB, many and more where people are holding commission for negotiating the builders also are concerned about out contracts and deposits, and the assignment, [he or she] has to be investor-owned units standing empty developer isn’t moving as quickly as careful that [he or she] isn’t involved in new communities. Large numbers [the investor had been] told. in the sale of a secured investment,” of sold but vacant units can detract Carrying costs need to be analyzed says Boyd. “Make sure that you’re from the sense of community as well [by investors to know the cost not selling financial contracts. as the overall look and feel of an area of delays].” Brokers who are negotiating under development. 2. Be sure the contract is assignable. contracts and making a commission “In a hot area where housing is “I’m seeing lately that there are on the markup, which is legal booming, developers and builders are restrictions on assignments. Many and ethical in the right now putting a provision in the contract times this information comes as a circumstances, need to check saying it’s nontransferable,” says surprise to the investor,” says with a securities attorney.” Gilmore. “They’re also putting Simmons. He sees developers 5. Know the money. It’s important that provisions in that say if you put money with regulations that say the buyer you know that an investor should get down on a contract, you must move in can’t assign [the contract] until he professional help, such as from a and live there for a year or else you or she has lived there for one year certified public accountant (CPA), pay the builder/developer any money or before a certain percentage of about ongoing tax liabilities. “So for you made off of it. That’s taken a great condo units are sold. “Also, the investors, [real estate professionals] [many] investors out of that [single- developer may hold the best should advise them to get accounting family preconstruction] market.” units for the end, which makes advice, and that will help them assignment prior to that determine whether to hold the 6 flip tips nearly impossible.” contract or the unit [for a while] Whether you’re investing for 3. Look for fees. Recently, developers before they resell it,” says Simmons. yourself or working with an investor, have been charging assignment fees 6. Know the local area. When it comes you may find useful these tips from that may be five figures. “In order to a specific investment property, Stephen Simmons, an attorney with to assign the contract, the buyer has “[You] must be experienced in that Murray, Simmons and Ziegler LLP in to pay a fee to the developer,” says area and in that neighborhood,” says Fort Lauderdale, and Joe Boyd, Simmons. He also says that some Simmons. “If the market has reached managing partner with law firm Boyd, developers are saying that resales top price, then investors need to Lindsey & Sliger in Tallahassee. must be done in-house. “The buyer be cautioned.” 1. Know the developer. “Has the has to use the developer’s real estate Tracey C. Velt is an Orlando-based developer had a successful project [associate]. For associates that’s fine, freelance writer and a contributing before? What is the completion but for buyers or investors, it isn’t editor for Florida Realtor magazine.- date? Do your research,” says always a good thing.” © 2005 FLORIDA ASSOCIATION Simmons. “Make sure the investor 4. Know your boundaries as a broker. OF REALTORS has a very comprehensive idea of “If the broker is getting paid a project completion. I see it more 40 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Quitclaiming of U.S. real estate by foreign persons can create unwanted tax results By Thomas C. Roberge, CPA, Sarasota and St. Petersburg

We are receiving numerous phone calls about quitclaiming U.S. International real estate from foreign property owners for various reasons. REAL ESTATE The taxable amount of the w A quitclaim of The result is that John has made a U.S. real estate gift is generally the greater of taxable gift of $750,000, thereby by a foreign the cost or fair market value generating a gift tax liability of person is a of the property less the $248,300. The $750,000 taxable gift is taxable gift the difference between the $1 million under the amount of debt against the fair market value of the property less Internal property and less the annual the sum of the $239,000 mortgage and Revenue Code. gift tax exclusion. the $11,000 annual gift tax exclusion. For 2005, a here are strategies available for nonresident amount of debt against the property minimizing the impact of such a alien donor only transfer. However, they require THOMAS C. ROBERGE and less the annual gift tax exclusion. receives an planning and execution prior to the Here’s how it works. Assume that $11,000 annual transfer. We have been involved in the John Sanford, a citizen and resident of gift tax exclusion ($117,000 exclusion if planning in several of these situations. foreign country X, purchased a Florida the transfer is to one’s spouse). Such a Feel free to contact us if you have any condominium in 2002 for $825,000. The gift is not eligible for gift splitting nor is foreign clients who are faced with property is presently worth $1 million the unified credit available. this dilemma. The taxable amount of the gift is and has a $239,000 mortgage. John wants to give the property to his Copyright, 2005, generally the greater of the cost or fair Thomas C. Roberge & Company market value of the property less the brother Sam. The bank has agreed that the mortgage can be transferred to Sam. All Rights Reserved

the City of Sarasota to identify Realtors to tackle six homes disadvantaged homeowners who need help with repairs and painting of their homes, thus continuing their efforts to at Brush Up Sarasota event help beautify the city of Sarasota. By A little elbow grease and some fresh Sponsors for this year’s event now the end of 2004, the committee paint can do wonders to spruce up a include Re/Max Properties, Keller completed 12 homes and other projects home, a neighborhood, or even a Williams, Prudential Cascade and including raising food and supplies for community. But sometimes, lack of Michael Saunders & Company in the All Faiths Food Bank and Disaster dollars and physical limitations make such Palmer Ranch. Aclarian Mortgage will Relief for Hurricane Victims. projects difficult to achieve. That’s where also bring eight to 10 volunteer workers To complete their work, the the Sarasota Association of Realtors for the event, and may take on their committee used 165 paint brushes, 64 Community Outreach Committee can own house. paint rollers, 25 scrapers, 450 gallons of make a tremendous difference. Last year, sponsoring offices included pressure cleaning water, 110 gallons of On Saturday, Oct. 22, the SAR, Cristello and Co., Chase Manhattan paint, 25 roller pans, 320 bags of mulch, through the Community Outreach Home Loans, ReMax Properties, 9 cases of caulk, 50 linear feet of Committee, will once again participate Prudential Palms and Keller Williams. fencing, 30 sheets of 4 X 8 plywood, 688 in Brush Up Sarasota, an event under Each office worked closely with the square feet of screening, 550 board feet the auspices of the City of Sarasota Committee to raise money, buy supplies, of lumber, many miscellaneous screws designed to improve the overall and enlist manpower for the projects. and nails, has planted 180 trees and community. The group has decided to There were approximately 100 plants and has completed 10 yard and take on six houses this year, and several Association members involved. household pest control treatments. real estate offices have signed on to The Community Outreach Committee For information on how you can help, help out. was formed by the Board of Directors of please contact Ray Porter at the the SAR in 2000. The group works with Sarasota Association of Realtors. www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 41 VOW/IDX policies up in the air Justice Department sues NAR over Internet display policy

Editor’s Note: Due to the recent lawsuit filed by the Department of Justice against the National Association of Realtors con- cerning the Internet display of property listings, the Sarasota Association of Realtors® has suspended all listing “opt-out” provisions for Sarasota MLS system users. This policy will be re-evaluated after the lawsuit is concluded. Details of the ongo- ing legal battle can be found below.

The U.S. Department of Justice filed suit in September against the National Association of Realtors® (NAR) over rules that cover how listing data may be displayed on the Internet.

tThe lawsuit comes on the heels of NAR's announcement Web site. (One exception: A seller could individually that new and simpler display rules, called ILD (Internet choose to allow his home listing to be posted elsewhere.) listing display), would replace both VOW (virtual office DOJ Deputy Assistant Attorney General J. Bruce Web site) and IDX (Internet data exchange) policies on McDonald said ILD's opt-out option still "stifles July 1, 2006. competition. Having access to all listings on all homes for "After months of negotiations, we are at a loss to sale is critical." McDonald says that allowing brokers to understand why the Department of Justice would bring a withhold listings from Internet display "makes the online legal action," NAR said in a statement. "Many of the business model unattractive and tends to undercut changes incorporated in the new policy are in direct competition by the Web-based brokers." response to concerns [the DOJ has] raised over the course But NAR's general counsel Laurie Janik countered the of the two-year investigation." DOJ's argument, noting that "a listing broker has no duty" DOJ investigators focused on ILD's opt-out provisions, to give competitors an advantage. Janik said he is sure which allow a broker to keep his listings off competitors' NAR will win in court once a judge considers the facts. Web sites; in exchange, however, that broker would not be NAR has worked for years to craft an Internet-use policy allowed to display competitors' listings on his company's for home listings. In doing so, it created IDX, which covered voluntary use of listings by Web sites. The VOW policy, however, proved more controversial. It has been enacted - but never officially implemented and made mandatory - as Advertisers Index NAR negotiated new language with the DOJ. The DOJ lawsuit has raised questions for those MLS The following businesses have placed advertising in systems that adopted their own VOW policy. With certain Sarasota Realtor Magazine. Please consider these rules within NAR's VOW policy now under official companies when doing business. investigation, similar rules under a local MLS's display policy may also be affected. Bayshore Title Insurance Company...... 32 ® Bert Rodgers Schools of Real Estate ...... 34 - FLORIDA ASSOCIATION OF REALTORS Bruce Williams Homes ...... 34 Dakkak Insurance ...... 29 DPI ...... 42 Ed Klopfer Schools of Real Estate ...... 43 Little Harbor ...... 9 Mackinac Savings ...... 32 Morrison Homes ...... 2 Orchid Beach Club ...... 15 Phillippi Landings ...... 3 Serbin Printing, Inc...... 32 US 1031 Exchange Services ...... 32 Vivante...... 27 The Woodlands ...... 13

42 October 2005 Sarasota Realtor Magazine www.sarasotarealtors.com Florida’s Leader in Real Estate Education…Having SPEC IAL $32 00 Educated Over 145,000 The Da 9 ytime Sal Associate es Students Throughout Pre-Licen C sing Southwest Florida and the www.edklopfer.com ourse Panhandle. SARASOTA COURSE SCHEDULE August 2005 – October 2005 Course Offerings Florida Real Estate Sales Associate and Broker Pre-Licensing and Sales Associate Post-Licensing Are Now Offered Online At www.edklopfer.com 63-HOUR SALES ASSOCIATE PRE-LICENSING 72-HOUR BROKER PRE-LICENSING Day Class Special Tuition Package $329.00 (Includes State Exam Prep, Online Tuition $429.00 Prep & Manual) Evening Class $339.00 (Includes Manual) (Includes State Exam Prep, Online Prep & Manual) Sarasota (D) Aug 2,3, 4, 5, 8, 9, 10, 11 (D) Aug 9, 10, 11, 12, 15, 16, 17 (D) Oct 25, 26, 27, 28, 31 & Nov 1, 2, 3 (D) Aug 16, 17, 18, 19, 22, 23, 24 BROKER STATE EXAM PREP (D) Sep 7, 8, 9, 12, 13, 14, 15 Included with Broker Pre-Licensing (D) Sep 12, 13, 14, 15, 19, 20, 21 (D/W)Aug 12, 13, 14 (E) Sep 14, 15, 19, 21, 22, 26, 28, 29 & (D/W)Nov 4, 5, 6 Oct 3, 5, 6, 10, 12, 13 (D) Oct 11, 12, 13, 14, 17, 18, 19 30-HOUR BROKER POST-LICENSING Tuition 30 Hours $169.00 (Includes Manual) Bradenton (D) Aug 30, 31 & Sep 1...... Investment Analysis (D) Aug 23, 24, 25, 26, 29, 30, 31 (D) Sep 7, 8, 9...... Management (D) Sep 27, 28, 29, 30 & Oct 3, 4, 5 (D) Oct 25, 26, 27, 28, 31 & Nov 1, 2 REGISTERED TRAINEE ASSISTANT Tuition $599.00 - 75 Hour (Includes Manual) SALES ASSOCIATE STATE EXAM PREP (D) Sep 27, 28, 29, 30 & Oct 3, 4, 5, 6, 7 (Included with Day Class Special) Tuition-Package $129.00 EK Students $149.00 Non-EK Students $179.00 CERTIFIED RESIDENTIAL APPRIASAL Tuition includes our On-line prep and math review Tuitition $299.00 - 30 Hours (Includes Manual) (W) July 30, 31 (W) Sep 17, 18 (D) Oct 17, 18, 19 (D) Aug 10, 11 (W) Sep 24, 25 (W) Aug 13, 14 (W) Oct 15, 16 MORTGAGE BROKER Tuition $249.00 - 24 Hours (Includes Manual) (D) Aug 18, 19 (W) Oct 22, 23 (E/W) Aug 19, 20, 21 (E/W) Oct 21, 22, 23 (W) Aug 27, 28 (W) Nov 5, 6 15 Hours National Appraisal USPAP 45-HOUR SALES ASSOCIATE POST Tuition $199.00 (Includes Workbook) Tuition $189.00 (Manual Included) (D) Oct 22, 23 (D) Aug 1, 2, 3, 4, 5 (W) Aug 12, 13, 14, 20, 21 CAM PRE-LICENSING (D) Sep 12, 13, 14, 15, 16 Tuition $189.00 (Includes Manual) (D) Oct 24, 25, 26, 27, 28 (W) Aug 6,7 (W) Oct 29,30

14-HOUR CONTINUING EDUCATION HOME INSPECTION Tuition 14 Hours $69.00 - 14 Hour CE Online or Correspondence $21.95 Tuition $745.00 - 40 Hours (Includes Manual) (W) Aug 6, 7 (D/W)Sep 16, 17, 18, 24, 25 To Register Call 800-370-1570 • www.edklopfer.com 4068 Cattlemen Road, Sarasota, FL 34233 (941) 379-2378 • (941) 379-4566 Fax • www.edklopfer.com Additional Locations Brandon • Ft. Myers • Fort Walton Beach • Lakeland • Naples • Palm Harbor • Panama City • Pensacola • Port Charlotte • Tampa www.sarasotarealtors.com Sarasota Realtor Magazine October 2005 43 Monday, October3throughFriday, November11,2005 2:30 PMNewMembers Committee 12 PMExecutive 9 AMNewMembers 8 AMCIPSFinancial New Members 9 AM&2:30PM New Members 9 AM&2:30PM 9:30 AMiMappT New Members 9 AM&2:30PM Orientation 9 AMNewMember Meeting 12 PMExecutive New Members 9 AM&2:30PM Focus/Code ofEthics 9 AMto4PMRealtor New Members 9 AM&2:30PM 8 AMCCIM101 ODYTEDYWDEDYTUSA FRIDAY THURSDAY WEDNESDAY TUESDAY MONDAY 1Nvme 4 3 28 2 27 21 26 November 1 31 20 25 14 19 24 13 18 12 17 11 10 raining For mor 011 10 9 8 7 34567 1 PMAdvancedSpanish of Directors 8:30 AMCIDBoard 8 AMCCIM101 1 PMAdvancedSpanish 1 PMAdvancedSpanish 8 AMCIPSFinancial 1 PMAdvancedSpanish of Directors 8:30 AMCIDBoar 1 PMAdvancedSpanish 1 PMAdvancedSpanish MLS Committee 9:30 AMCouncil Membership meeting 8:30 AMCID e infor mation onEducationalPr d New Members 9 AM&2:30PM MLS Basic 9 AM&1PM 9 AMNewMembers 8 AMCCIM101 9 AMNewMembers MLS Basic 9 AM&1PM 2 PMPlanetRealtor Committee 12 PMRealtor/Attor 10 AM,MLSAdvantage New Members 9 AM&2:30PM MLS Basic 9 AM&1PM 8 AM,BradNeff,FAR Boot Camp 9 AM-1PM New members 9 AM&2:30PM New Members 9 AM&2:30PM ograms, pleaseseepages24-26 ney 1 PMBeginningSpanish MLS Advanced 9 AM&1PM 8 AMMLSZone1 8 AMCCIM101 Spanish 2 PMInter 1 PMBeginningSpanish 8 AMMLSZone2 Spanish 2 PMIntermediate 1 PMFRECSeminar 1 PMBeginningSpanish MLS Advanced 9 AM&1PM 8 AMMLSZone1 4 PMMLSCommittee Spanish 2 PMIntermediate 1 PMBeginningSpanish 8 AMMLSZone2 4 PMMLSCommittee Spanish 2 PMInter 1 PMBeginningSpanish 8 AMMLSZone2 Spanish 2 PMIntermediate 1 PMBeginningSpanish MLS Advanced 9 AM&1PM 8 AMMLSZone1 mediate mediate of Directors 9 AMWCRBoard 9 AMNewMembers 8 AMCCIM101 9 AMNewMembers 9 AMNewMembers 9 AMNewMembers 9 AMNewMembers of Directors 9 AMWCRBoard 9 AMNewMembers 8 AMCCIM101

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