March 2010 Governmental Affairs Report

Transcription

1 March 2010 Governmental Affairs Report

2 Make a house your home. Now is the perfect time to make your dream home a reality and Capital City Bank has an experienced mortgage banker ready to help you every step of the way. Whether you re buying your first home or just need room to grow, our customized approach to mortgage lending can help make a house your home. Call us today. Conventional/FHA/VA Refinancing Affordable Housing USDA Rural Housing Adjustable & Fixed Rate Lot Loans Construction/Perm. Financing Lisa Canup Chris Carter Megan Ehler Carol Fraser Adrienne Granger Kristen Phillips All products are subject to credit and property approval. Program terms and conditions subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations may apply.

3 March 2010 Volume 22, Issue 3 HIGHLIGHTS 10 Governmental Affairs Report from Florida REALTORS Mid-Winter Business Meeting 12 Affiliate Appreciation 21 Affiliate Angle Smart Money Tips for the Self-Employed 10 IN THIS ISSUE 5 PRESIDENT S MESSAGE RPAC, Affiliates, and Open House 7 GRI Graduates, REALTORS Institute 8 Legal UpdatE It Won t Last Forever 14 Great American REALTOR Days April 6 & 7, Down Payment Assistance The ABC s of Down Payment Programs 16 Property Management Leasing Involving Housing Choice Vouchers 18 Affiliate Angle Protect Your Home Seller Sponsor Spotlight 20 Technology Tips IMAPP Tech Tips 22 TBR RESOURCE GUIDE Educational Opportunities, Calendar, More! All editions close the 5th of the month prior to publication for ad reservations and ad copy, and the 1st of the month for editorial copy. Tallahassee REALTOR, the official monthly magazine of the Tallahassee Board of REALTORS, Inc. is published by Babski Creative Studios, 1238 Ellis Rd., Tallahassee, FL 32317, and is distributed to all Tallahassee Board of REALTORS Members and Affiliate Members. Reproduction in whole or in part is strictly prohibited without written authorization from the Tallahassee Board of REALTORS and Babski Creative Studios. Every effort has been made to assure accuracy; however, neither the advertiser, the publisher, nor the Tallahassee Board of REALTORS shall be responsible for errors and/or omissions contained herein. Copyright 2010, Tallahassee Board of REALTORS. March 2010 TALLAHASSEE REALTOR 3

4 Make the sale Confidence with Choose an Envision Home Loan Annette Jilek and Becky Wheeler Envision Credit Union Home Loans are stronger and more flexible than ever. We can help your client choose the right loan to fit their needs and make the sale happen. Partner with Envision Credit Union where home loans continue to be made responsibly with great terms. Envision has the mortgage products to close the deal! w w w. e n v i s i o n c u. c o m Get more than you expect. Get your message out to all Tallahassee Board of REALTORS member subscribers. Get recognition for supporting your local Board of REALTORS. Get noticed by the movers and shakers of our local real estate industry. Tallahassee REALTOR is proudly published by: Babski Creative Studios John Babski, Director, Sales and Operations Phone: (850) or john@babskicreativestudios.com 4 TALLAHASSEE REALTOR March 2010

5 PRESIDENT S MESSAGE By Lucretia Thomas RPAC, Affiliates, and Open House he Tallahassee Board of REALTORS took the show for outstanding RPAC contributions at the Mid-Winter Florida REALTORS meeting in Orlando late February. In the Large Board category, TBR was recognized for the most dollars collected, reaching the highest percentage of goal, and for being first board to reach 2009 goal. District 8 was honored for reaching the highest percentage of goal. Penny Herman was recognized for her outstanding contribution as an RPAC trustee. Representing your board at the Florida REALTORS meetings in an official capacity were Steve Lastowski, your 2010 President-Elect; Jeff Doxsee, Debbie Kirkland, and Mike Ferrie as FAR Directors; Robby Turner, District 8 Vice President; and myself. TBR Past Presidents spotted on the scene were Bert Bevis, Kevin Hattaway, Penny Herman, Patti Ketcham, and Rae Roeder. Other TBR members present included Christic Henry, S.W. Ellis, Kathy Reardon, Sandy Dallett, Maria Santurri, Barbara Fletcher, Clay Ketcham, and TBR staff Steve Louchheim, Christy O Connell, and Paul Galloway. I may have missed a few names and faces, there were so many of you there! Rest assured, the Tallahassee Board of REALTORS was well represented at Florida REALTORS this winter. I attended and participated in several roundtable discussions with other board presidents and presidents-elect from throughout the state. The hot continued on page President Bert Bevis and Governmental Affairs Chair Debbie Kirkland display TBR s numerous 2009 RPAC awards. The purpose of the Tallahassee Board of REALTORS is to preserve and extend the right to own, use and transfer real property and to serve its members by providing and promoting programs and services which will enhance members skills and ability to operate their business profitably and ethically. Tallahassee Board of REALTORS, Inc Thomasville Road Tallahassee, Florida, / / (FAX) Board of Directors Lucretia Thomas, CLG, CRS, e-pro, GRI President Steve Lastowski President-Elect Georgia Turner, CRS, GRI Secretary Frank A. McClean, CLG, CRS, GRI Treasurer Bert Bevis, ABR, CRS, GRI Past President Jeff Doxsee, CLG, GRI Director Debbie Kirkland, CLG, e-pro Director Mariela Santurri, CLG Director Kenley Stringer, CLG Director Mark Trafton, CLG, CRS, GRI Director Allison Cartledge, CLG Affiliate Director Tim Jennings Commercial Council Director Caryl Pierce Commercial Council Co-Director Joan Smith Wakulla Council Director Joseph Boyd Legal Counsel Steven Louchheim, CAE, RCE Executive Director Susan Ray Deputy Executive Director, Editor Rae Roeder, CRS, e-pro, GRI Communications Committee Chair Babski Creative Studios Publisher The MLS and other services provided by Capital Area Technology & REALTOR Services, Inc. (CATRS), a wholly-owned subsidiary of TBR. March 2010 TALLAHASSEE REALTOR 5

6 RPAC, Affiliates, and Open House, continued topics included board membership, continuing education opportunities for members, and RPAC fund raising. Most boards offer continuing education but I am proud to say, once again, Tallahassee far exceeds the majority of boards our size in educational opportunities. Some boards are utilizing systems similar to our REP, but no board that I talked with offers as many classes to their membership There is a lot going on at TBR and time has a way of flying by... at such a low price ($59 a year) as TBR. This is truly a membership benefit, and it is available to Affiliate members also all you have to do is sign up and enjoy. We just recently celebrated Affiliate Appreciation at TBR, and if you were not there you missed a treat. It was simply amazing to hear the many things that Affiliate members do for us on a daily basis. Remember, Affiliate members are a large part of our Board almost 200 members strong. They are members because they are interested in our business; that is, they work in the real estate field and they want our business. When ordering a service for your clients, always suggest more than one provider and make sure that these providers are TBR Affiliate members. They work hard for us; let s reward them as often as we can. Our Affiliate and REALTOR members are already hard at work on TBR s committees this year is TBR s 75th anniversary year, and the 75th Anniversary Committee chaired by REALTOR Ann Cleare has been really busy. On the 11th of February they hosted a luncheon for past presidents of the Board. This was an opportunity to honor TBR s former leaders for their past service and also to pick their brains for information about TBR s past. Watch the next issue of Tallahassee REALTOR for photos and some interesting historical data from this event. Keep the dates of April 10 and 11th open: Florida REALTORS will be having a grand OPEN HOUSE statewide. The state association is encouraging all of us to have Open Houses on the 10 and 11th of April. Money has been set aside for some statewide radio ads, signage, and the buzz should generate some good PR. This is an easy event that we can all participate in, large offices or small. You know we do Open Houses anyway, right? More information about this event will be provided as it is received. Tuesday morning marketing meetings are a great time to get this type of information and a good time to hear what is going on within the real estate community. On a final note, remember to bookmark our website or make it your home page. There is a lot going on at TBR and time has a way of flying by, so stay up with what s going on and take advantage of your membership benefits. Lucretia Thomas, Debbie Kirkland, Jeff Doxsee, Steve Lastowski, and Mike Ferrie at the Florida REALTORS Mid-Winter Meeting. Lucretia Thomas, CLG, CRS, e-pro, GRI Thomas Acquisition & Property Specialists 6 TALLAHASSEE REALTOR March 2010

7 Graduates, REALTORS Institute GRI Miriam Nicklaus, Professional Development Committee Chair, congratulates new GRI designees Joani Robson and Jeff Doxsee. (Not pictured: Dixey Mayo Teel.) Join us in August for GRI 1: Standards of Practice! For more information, visit or call March 2010 TALLAHASSEE REALTOR 7

8 Legal UpdatE It Won t Last Forever By Joe Boyd ongress extended until April 30th the homebuyer tax credit, making it applicable to previous homebuyers plus first-time homebuyers. Now is the time to act and it s running out. The Worker, Homeownership, and Business Buyers, now more than ever, need to find their best deal and close on the house of their dreams. Assistance Act of 2009 extends the deadline for qualifying home purchases from November 30, 2009, to April 30, Additionally, if a buyer enters into a binding contract by April 30, 2010, the buyer has until June 30, 2010, to settle on the purchase. The new law also provides a long-time resident credit of up to $6,500 to others who do not qualify as firsttime homebuyers. To qualify this way, a buyer must have owned and used the same home as a principal or primary residence for at least five consecutive years of the eightyear period. For all home purchases in 2010 that qualify, taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns. Several new restrictions are in the new law. These include that it does not apply to homes over $800,000. A purchaser has to be at least 18 years of age on the date of purchase. An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30, 2010, and settle on the purchase by June 30, A new benefit under the law is that members of the military serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the credit. Home prices nationwide are up over 5 percent from their April, 2009 low. Home prices in Tallahassee are stabilizing and about to start up. Unemployment took a U-turn for the good, with the unemployment rate dropping unexpectedly. The Florida Legislature is giving a break to businesses that were suddenly faced with skyrocketing unemployment insurance payments. All the indices are that the corner is being turned. Home buyer tax credits will not last forever. 8 TALLAHASSEE REALTOR March 2010

9 Lenders are busy with new applications as interest rates continue to hover near record lows. A 4, 5, or 6 percent fixed rate loan may not be seen again in our life time. It s been rare or nonexistent in the last 30 years. So why are some buyers still on the sideline? It has to be one of two reasons. Either they think the time to buy will get better (it won t), or they are bothered by new lender requirements. Those new lender requirements come in two forms. One involves a tortuous process to get a loan, and the other is related to the new RESPA rules (Real Estate Settlement Procedures Act). The former relates to some lenders overreacting to loose underwriting standards in the past. The answer to that is simple: call now to one or more lenders and see how these standards have stabilized and are no longer the big wall that was there a year ago. On RESPA, that may be a different deal. Effective January 1, 2010, lenders were required to comply with new (and difficult) rules. These include very specific good faith estimates. But as lenders and regulators quickly learn how to implement those rules, and convey that information to REALTORS, buyers, and sellers, this will no longer be an impediment. Talk to a lender today. Buyers, now more than ever, need to find their best deal and close on the house of their dreams. What we do know for sure is that these great times for buyers have not been here in 20 years and may not come again. It will not last forever. A 4, 5, or 6 percent fixed rate loan may not be seen again in our life time. For more details on the homebuyer credit, visit the First-Time Homebuyer Credit page on IRS.gov ( Do it today or a year from now, you will wish you had. Joe Boyd TBR Legal Counsel Boyd, DuRant, & Sliger, PL Board Certified Real Estate Lawyer Helping Realtors help their buyers. Michelle Clark (850) mclark@premier-bank.com Vickie Cummings (850) vcummings@premier-bank.com Carrie Hess (850) chess@premier-bank.com Elizabeth Ralstin (850) eralstin@premier-bank.com Jay Ralstin (850) jralstin@premier-bank.com Sheila Rogers (850) srogers@premier-bank.com Laura Jo Smith (850) lsmith@premier-bank.com Homes&LandAd.indd 3 11/6/09 4:17:02 PM March 2010 TALLAHASSEE REALTOR 9

10 Governmental Affairs Report from Florida REALTORS Mid-Winter Business Meeting By Debbie Kirkland n January 20 25, TBR was represented by its Florida REALTORS Directors, Committee Chairs and Members, WCR officers and members. Serving in leadership roles with Florida REALTORS and with Women s Council of REALTORS is an honor but at the same time a commitment to our industry and to our members at the Tallahassee Board of REALTORS. It is a way for us to represent your interests to those making decisions on matters such as public policy, professional development, MLS systems, emerging technologies, international business, commercial industry needs, appraisal, member benefits, and public relations. Every decision affects you and your business. Some decisions affect you on a daily basis. If you ever want to understand how your state association works on your behalf, just ask one of your Florida REALTORS Directors! As one of your Directors and as Governmental Affairs Chair, I want to share a few items of utmost importance with you. You will be hearing about these issues over the next few months, and as we prepare for Great American REALTOR Days as well as when we interview candidates for local elections. Amendment 4: Amendment 4 is one of the greatest threats to Florida s economy and recovering housing market. Florida REALTORS does not support Amendment 4, which is proposed for the 2010 Statewide Ballot. If passed, this amendment mandates that every time a change, even minor change, is proposed to a local comprehensive plan, a vote must be called. For citizens of Carrabelle, that would have required 617 votes of its residents in For Leon county, over 95 in 2009! The cost for our counties would bankrupt our systems. There is a grassroots coalition we support to fight Amendment 4, Floridians for Smarter Growth, and we join them in their efforts. More on this can be found at: floridarealtors.org/legislativecenter/topinitiatives Amendment 3: Florida REALTORS supports research of this amendment, which provides a new $100,000 exemption from property tax for first-time homeowners and reduces from 10% to 5% the cap on property tax assessments on non-homesteaded real property. The hope is that this will reduce some of the inequalities between new home-owners and long-time 10 TALLAHASSEE REALTOR March 2010

11 homeowners with accrued Save our Homes benefits. Florida REALTORS wants more information on foreclosure statistics, and dynamic modeling on this before making a decision. Florida REALTORS Supports the Repeal of s , F.S. regarding windstorm mitigation disclosure. Beginning January 1, 2011, current Florida law requires residential homeowners to disclose and provide a property s windstorm rating. Along with this disclosure will be required three homehardening improvement plans, each featuring the home s resistance at various levels and a price associated with these improvements. While Florida REALTORS remains committed to wind-storm mitigation efforts, the required disclosure could stigmatize most homes and disrupt the recovery of Florida s housing and real estate market, not to mention cost a homeowner thousands of dollars. Chinese Drywall: Florida REALTORS will contact legislators with Chinese drywall bills and discuss the possibility of a uniform tax assessment on afflicted homes. Retirement Visa: Proponents of a retirement residency visa for foreign citizens wishing to one a retirement or vacation home is an issue that Florida REALTORS feels would help revive Florida s economy by increasing jobs and the Gross State Product. A full report is available on the Florida REALTORS website. We will continue to work with NAR and a coalition of outside interest groups in exploring more in this area. In addition to these public policy issues, there was buzz about: Emerging Technologies: A re-design of the Florida Living Network REALTOR web-pages and member technology benefit packages. Technology and social media are topics you will hear a lot about in this next year! Forms Simplicity: A new system for forms management available as a robust alternative for brokers and agents that will provide quality control, ease of use, and broker customization. It is really cutting edge! When the time comes for you to renew your driver s license please consider the Support Homeownership For All license plate. Lastly, when the time comes for you to renew your driver s license please consider the Support Homeownership For All license plate. As of October 2009, more than 6,900 license plate registrations have been filed, amounting to more than $170,000. Proceeds from the sale of the license plate will be used exclusively for housing programs. The goal is to provide housing assistance to teachers, nurses, and others unable to afford a home. The Florida REALTORS specialty license plate is available online ( LegislativeNews/Homeownership-For-All-license-plate. cfm), by mail, or at your county tax collector s office. In closing, your association, Florida REALTORS is at work for you every day. The Legal Hotline, the Technology Helpdesk, and the policy makers for the largest trade association in the state is constantly pressing forward to protect and serve each one of you. Mark your calendars now for two special events in April: Great American REALTOR Days, April 6th and 7th Florida REALTORS Statewide Open House Weekend, April 10th and 11th Debbie Kirkland, CLG, e-pro Chair, Governmental Affairs Committee Armor Realty of Tallahassee March 2010 TALLAHASSEE REALTOR 11

12 Affiliate Appreciation Affiliate Appreciation he following Affiliates went above and beyond with their contributions to TBR in They were recognized at the January 26, 2010 business meeting by 2009 President Bert Bevis, 2009 Social Chair Mariela Santurri, 2010 President Lucretia Thomas, and 2010 Social Chair Justin Peel. Premier Construction Jeff Doxsee & Loretta Achurra Smith, Thompson, Shaw & Manausa, P.A. Lisa Graganella & Shannon Summerlin Premier Bank Carrie Hess Tallahassee Title Group Jamie Temples & Monique Jackson Affiliated Title Services Becky McNeal & Tracy Metcalf Capital City Bank Kristen Phillips 12 TALLAHASSEE REALTOR March 2010

13 Hancock Bank Deborah McClellan Owen Title Company Cindi Owen & Allison Cartledge BB&T Margie Fletcher Envision Credit Union Florida Commerce Credit Union Shannon Wood Sunshine Savings Bank Matt Collier A special thank you to ALL Affiliates who donated their time, money, and services to TBR classes, meetings, and events in 2009! March 2010 TALLAHASSEE REALTOR 13

14 Great American REALTOR Days Great American REALTOR Days April 6 & 7, 2010 By Bert Bevis t s that time again. On April 6 & 7, 2010, hundreds of REALTORS from across Florida will converge on our Capital City for the Florida REALTORS Great American REALTOR Days. This annual event provides for our Association to gather for fun and fellowship Show Your TBR Pride At Great American REALTOR Days! At the TBR Store, you can purchase longsleeved twill shirts in TBR green and REALTOR blue, with the TBR/REALTOR logos. Several men s and women s sizes to choose from, only $25 plus tax. If you are willing to help, please go online to to register and volunteer. and to meet with our elected representatives in the Florida Senate and the House of Representatives to discuss issues important to REALTORS. As you may recall, for years the Tallahassee Board of REALTORS held the party at our Board office, providing food and drink and entertainment for those attending from out of town. Several years ago, the state association did us a huge favor by taking on this project, and now Florida REALTORS hosts a Taste of Florida Block Party on Adams Street for the enjoyment of those attending. Registration and political briefings will again be held at the Challenger Learning Center on April 6 & 7, with the Public Policy Committee meeting being held at the Doubletree Hotel on April 7. An outdoor luncheon will be held in the Capital Courtyard on Wednesday, April 7. Volunteers are needed to assist with registration, the briefing, and the luncheon. If you are willing to help, please go online to to register and volunteer. Green and blue Tallahassee Board of REALTORS shirts are on sale at the Board Office; please plan to wear one to the events so that you stand out as a Tallahassee volunteer. Bert Bevis, ABR, CRS, GRI 2010 GARD Vice Chairman Bert Bevis Realty 14 TALLAHASSEE REALTOR March 2010

15 Down Payment Assistance By Lisa Canup The ABC s of Down Payment Programs here are two down payment assistance programs in Leon County. The first decision in choosing the right program is determining the location of the property. Tallahassee Lenders Consortium (TLC) is for property located in the City of Tallahassee limits. The Leon County Down Payment Program (LCDPA) is for property located in unincorporated Leon County. Both programs provide assistance for first time homebuyers in the form of a loan which is a second mortgage, and provide for the same loan terms. The interest rate is hard to beat at 0%. The loan is only payable upon any one of the following events: 1. The sale or transfer of the property. 2. The borrower declares bankruptcy or foreclosure is filed on the first mortgage. 3. Refinance of the first mortgage. 4. The owner no longer occupies the property as their primary residence. 5. Maturity of the first mortgage. TLC provides for $8,000 in down payment assistance in the form of a deferred loan which can be used for closing costs, prepaid costs, and towards the purchase price. The maximum purchase price is $200,160. The program is flexible as it can be utilized with FHA or conventional financing. The income limit is based on HUD limits adjusted for family size. For example, the limit for household of two is $40,700 and increases to $50,900 for a household of four. The program only requires a $500 contribution of the borrower. LCDPA provides $7,500 down payment assistance in the form of a deferred loan. These funds can be used for closing costs, prepaid costs, and towards the purchase price Both down payment programs provide a great opportunity for your clients to achieve home ownership. as well. The maximum purchase price is slightly higher at $204,000. As in the TLC program, income limits are based on HUD limits adjusted based on family size. This program is not available on mobile homes. The program can be utilized with FHA, conventional, or rural housing financing programs. This program requires a $1,000 contribution of the borrower. Both down payment programs provide a great opportunity for your clients to achieve home ownership. The first thing to do when working with a client that you feel will benefit from this program is to have them register and take the first time homeowners class as it is a requirement for both programs. Lisa Canup Capital City Bank March 2010 TALLAHASSEE REALTOR 15

16 Property Management Leasing Involving Housing Choice Vouchers By Nancy Stedman-Laux he Housing Choice Voucher Program, previously known as the Section 8 program, was created by the U.S. Housing and Community Development Act of 1974 and is funded by HUD. This program provides rental assistance to eligible families by issuing vouchers to search for rental property in the private rental market. The local administrator of the program is the Tallahassee Housing Authority (THA). The THA has the responsibility of explaining and disseminating information about the program guidelines; conducting criminal This program provides rental assistance to eligible families by issuing vouchers to search for rental property in the private rental market. background screenings of applicants; receiving and reviewing applications from eligible families; conducting annual recertification of family eligibility; issuing vouchers; inspecting and certifying that the unit selected by the family meets Federal Housing Quality Standards (HQS); determining and paying the Housing Assistance Payment (HAP) to the landlord on behalf of the family; monitoring program performance and compliance with applicable laws; and seeking expanded opportunities for assisted families to locate housing outside areas of concentrated poverty. Landlords (or their agents) who seek to participate in this program must: list their property with THA (www. tallha.org); provide ownership of property or management agreement; not be on the HUD landlord disbarred list; arrange the date and time of property inspection with the THA inspection department; sign the lease with the family and contract with THA; give key to unit to the family; manage and maintain the unit; and enforce the lease. THA does not choose the resident for the unit being rented; this is done in the conventional manner by the landlord and/or his or her agent. 16 TALLAHASSEE REALTOR March 2010

17 The responsibilities of the landlord/agent then become performing the screening process of an applying family; leasing the unit; entering, comply with, and enforcing the HUD lease agreement and lease addendum; entering and complying with the Housing Assistance Payments (HAP) contract with THA; performing all management and renting functions; collecting amounts due from the family (collecting no side funds); paying for owner supplied services; and performing all normal wear-and-tear maintenance. THA relies on the landlord/agent to verify that only persons listed on the lease occupy the subsidized unit. In return, the landlord will receive the HAP via direct deposit every month from the THA on behalf of the tenant. Families rents are based on their net income of 30%. Failure to agree to direct deposit will result in inability to participate as a landlord in this program. The landlord must also submit an IRS W-9 form to the THA giving the correct tax identification number in order to receive the HAP. Leadbased paint disclosure where applicable, along with all fair housing laws must be abided by. Rents and any other fees must be deemed by THA to be reasonable for the market. Much of the paperwork to become eligible to start leasing to a family is in the Request for Tenancy Approval packet, which is submitted to THA by an eligible family In return, the landlord will receive the HAP via direct deposit every month from the THA on behalf of the tenant. once they have found an appropriate unit. If you own or manage property that you would like to place on the list as eligible to clients of the Housing Choice Voucher Program, you can find out more by contacting the Tallahassee Housing Authority at , stopping by their office at 2940 Grady Road, or going to The folks there are glad to help you out! Nancy Stedman-Laux, CLG, CRS, GRI Retriever Property Enterprises, LLC March 2010 TALLAHASSEE REALTOR 17

18 Affiliate Angle By Farris Powell Protect Your Home Seller ost real estate professionals readily accept the benefits that a home warranty provides for a home buyer, and consistently recommend that their clients secure a home warranty when purchasing a home. However, agents may sometimes overlook the benefits of Seller s Coverage for a client who is selling a home. While a home is on the market, a home warranty provides repair and replacement coverage for the home s major systems and appliances, and helps avoid closing delays while providing budget protection for the seller. Having a home warranty in place also provides a competitive edge over other homes on the market, which can help homes sell faster and for a higher price. Buyers feel protected from unknown after-sale problems and are more likely to make a solid offer. Buyers feel protected from unknown after-sale problems and are more likely to make a solid offer. In today s market, most buyers request that the seller provide a home warranty to reduce the buyer s risk of unforeseen breakdowns after close of sale. For a minimal cost, the seller can add Seller s Coverage and receive protection from the breakdown of covered systems and appliances during the listing period. Coverage becomes effective immediately upon receipt of application and continues until the expiration of the initial listing period (up to 180 days), close of sale, or listing termination (whichever occurs first). The premium for Seller s Coverage is payable at the close of sale. Seller s Coverage can provide essentially the same system and appliance coverage for the home seller during the listing and escrow period as the standard home warranty does for the home buyer after the close of sale. Some notable differences are: Optional coverage for certain items such as swimming pool, well pump, limited roof leak repair, etc. are not available to the seller. Many warranty companies have specific Seller s Coverage limits on the heating and air conditioning systems, such as a cap on the dollar amount which will be spent on the system. As a seller s agent, your clients will appreciate that you are looking out for their best interests by recommending home warranty protection while their home is listed for sale. Most agents and home sellers appreciate that Seller s Coverage keeps the home showing well, which can result in a faster sale. It may also lessen some of the financial burden on the seller for repairs that may result from the buyer s home inspection. In addition, when agents ensure that their client s home systems and appliances are in good working order at the close of sale, their clients are happy, and happy clients mean more referrals! Farris Powell Sr. Account Executive Old Republic Home Protection 18 TALLAHASSEE REALTOR March 2010

19 Get more than you expect. Need Prospects to be Customers?! Tallahassee REALTOR is proudly published by: Babski Creative Studios John Babski, Director, Sales and Operations Ph: (850) or Sponsor Spotlight A special thanks to our Affiliates for supporting our functions. Your support keeps us going! For a list of all Affiliate members/services, visit and click on Affiliate Services Directory. Marketing Meeting January 12 Envision Credit Union Contract I (REP) January 14 Affiliated Title Services Ethics January 21 AmeriMOVE/Allied Van Lines MLS & Your Liability (REP) January 21 Florida Commerce Credit Union Marketing Meeting February 2 Hartsfield Construction Commercial Council February 2 Florida Commerce Credit Union Core Law (REP) February 4 Envision Credit Union Sustainability in Existing Homes (REP) February 5 Premier Bank March 2010 TALLAHASSEE REALTOR 19

20 Technology Tips IMAPP Tech Tips Custom Map Layers On the tax record page, the parcel map will display different layers of MLS activity, such as Active listings. The listings appear as flags on the parcel map. (Figure 1.) If you ever wish to deactivate the view of the MLS listing icons on the parcel map, you can do this from the Custom Map Layers feature. To the right of the tax record and parcel map, locate the Map Settings menu. Then, locate and left click on the feature titled Custom Map Layers. (Figure 2.) Figure 2. Figure 3. Figure 4. Figure 5. Figure 1. A Custom Map Layers menu will appear. Locate the menu item titled Point Layers. To turn off the MLS listing icons view, deselect the check box next to the text titled Point Layers. (Figure 3.) The MLS listings will now disappear from the parcel map view. (Figure 4.) To reintegrate the MLS Listing view on the map, simply reselect the Point Layers option. Highlight the MLS listings you wish to reincorporate onto the map view. The map will refresh and the MLS icons will now be redisplayed. Adjusting Mail Label Skewing Issues Many label alignment issues can be resolved by checking the following: 1. Make sure your free Adobe Reader program is current. It should be at least version 8.0 or higher. To check your version from within the Adobe label preview pane, go to Help > About Adobe Reader. If you need to download an upgrade you can go to 2. Check your settings in the print dialogue box. Page Scaling should be set to none. The Auto-Rotate and Center, as well as Choose Paper Source by PDF page size boxes should both be unchecked. (Figure 5.) 3. Check the box labeled Fine Tune Page Positioning on the labels page itself, which causes horizontal and vertical drop-down boxes to appear with choices for fractional movement of the labels. SUGGESTION: Prior to running your entire print job on labels, print one page of your label print job on plain copy paper and hold it up to a sheet of labels to ensure they line up. 20 TALLAHASSEE REALTOR March 2010

21 Smart Money Tips for the Self-Employed Affiliate Angle By Traci Frandy orking for yourself, setting your own hours and calling the shots are appealing. But what about managing your money? Working for yourself offers flexibility, but it also presents unique financial challenges. Here are four quick tips to help you plan your financial future. Manage Your Cash Flow The economic downturn we re currently experiencing builds a clear case about why it s so important to be prepared to deal with periods of uneven cash flow. To ensure you always have money reserves, develop a budget that allows for swings in your income. Determine an average of how much revenue you can count on each month and use that as a base for monthly expenses. During months that you earn more, resist the urge to splurge. Instead, stash away extra cash in an interest-earning savings account or money market account. Also, when setting up your budget, consider paying yourself a set salary and keeping your personal and business cash in separate accounts. These steps alone will greatly simplify your life when tax time rolls around. Keep Uncle Sam Happy As an independent contractor, you will receive a Form 1099-MISC from every organization that pays you $600 or more during the tax year. Since no taxes are withheld, you will need to calculate the amount you owe. Now is the time to invest in a good tax software program. The IRS website ( also has guidelines on calculating quarterly tax payments. Keep in mind, you will also have to pay your own Social Security and Medicare taxes. The good news is that the self-employed enjoy many unique tax breaks. Contributions to retirement plans, health insurance premiums, travel costs, and office-related expenses may be deductible. Your personal tax advisor can help you determine which deductions are applicable to your business. Prioritize Protection Planning When working for yourself, it s up to you to provide your own health, disability, and life insurance to protect your business and your family. At the very least, you should have enough coverage to protect against potential loss of income due to illness or disability, medical and dental expenses not covered by government health plans, and potential medical expenses while you travel. You may also need to boost your home insurance coverage or purchase liability insurance if you have a home-based business. Your best bet is to speak to your licensed financial professional, accountant, or insurance representative to determine how much coverage you really need. Invest in Your Future It s never too soon, or too late for that matter, to start saving for retirement. Fortunately for you, the government affords the self-employed many generous tax breaks when it comes to retirement accounts. There are a number of retirement accounts for business owners, including the traditional IRA, Roth IRA, Keogh plan, Simple-IRA, SEP- IRA and the Solo 401(k) Profit Sharing Account that you can consider. Working for yourself can be both exciting and overwhelming, with many new challenges to face, and an equal number of opportunities. Developing a strategy that will help address your goals for economic security and success is an important step to your success. Traci Frandy , Exp. 12/23/2010. Provided courtesy of Prudential. For more information, contact Traci Frandy, an FSA with The Prudential Insurance Company of America s Gulf Atlantic agency located in Tallahassee, FL. March 2010 TALLAHASSEE REALTOR 21

22 TBR RESOURCE GUIDE March 2010 Calendar of Events Events listed are subject to change. Additions, deletions, or revisions are reflected in the weekly eboard Briefs newsletter, which can be found at March 1 9 a.m. FL Appraisers State Law Update Course 1 p.m. Appraiser/Supervisor/Trainee Class March 2 8:30 10:30 a.m. Blood Drive (TBR Parking Lot) 9 a.m. Marketing Meeting 11:45 Commercial Council March 3 9 a.m. Smartphone Fundamentals (REP) 1 p.m. Smartphone for Business Management (REP) March 4 9 a.m. Smartphones The Rest of the Story (REP) 1 p.m. Advanced ekey (REP) March 8 10 a.m. PDC Meeting March 9 8:30 a.m. Awards Program No Marketing Meeting March 11 9 a.m. Property Management for the RE Professional (REP) 1 p.m. How to Make the Most of Your Property Mgmt. Business (REP) 3 p.m. Relay for Life Fundraiser March 15 11:30 a.m. Brokers Outreach March 2010 Education March 16 9 a.m. Marketing Meeting 10 a.m. Finance Committee 2 p.m. MLS Committee March 17 9 a.m. Conventional Mortgage Finance (REP) 1 p.m. MLS: Paragon Basics March 18 9 a.m. Contract I (REP) 5 p.m. TBR Social, hosted by Smith, Thompson, Shaw & Manausa, P.A. March 19 9 a.m. Leadership March 23 9 a.m. Business Meeting 10 a.m. Board of Directors March 24 9 a.m. Intro. to Reverse Mortgages for Purchase (REP) March 25 9 a.m. Ethics 1 p.m. MLS & Your Liability (REP) March 27 10:30 Springtime Tallahassee Parade March 30 9 a.m. Marketing Meeting March 31 1 p.m. Advanced Outlook 2007: Beyond (REP) To reserve a seat for any of these classes, register online at or call Florida Appraisers State Law Update 3 hours appraiser and real estate CE $35 TBR members/$85 nonmembers Students must purchase the USPAP course book on their own and bring it to class, March 1, 9 a.m. noon Appraiser Supervisor/Trainee: Roles and Responsibility 3 hours appraiser CE No cost to members/$50 nonmembers March 1, 1 4 p.m. Smartphone Fundamentals for RE Professionals Free with REP; $20 advance/$25 day of class March 3, 9 a.m. noon Smartphone for Business Management Free with REP; $20 advance/$25 day of class March 3, 1 4 p.m. Smartphones The Rest of the Story Free with REP; $20 advance/$25 day of class March 4, 9 a.m. noon Advanced ekey for the Real Estate Professional Free with REP; $20 advance/$25 day of class March 4, 1 4 p.m. Property Management for the RE Practitioner 3 hours CE Free with REP; $20 advance/$25 day of class March 11, 9 a.m. noon How to Make the Most of Your Property Mgmt. Business 4 hours CE Free with REP; $20 advance/$25 day of class March 11, 1 5 p.m. Conventional Mortgage Finance 4 hours CE Free with REP; $20 advance/$25 day of class March 17, 9 a.m. 1 p.m. MLS: Paragon Basics* No cost to members. March 17, 1 3 p.m. Contract I: Learn Our Sales Contract 6 hours CE Free with REP; $25 advance/$30 day of class March 18, 9 a.m. 4 p.m. Intro. to Reverse Mortgages for Purchase Free with REP; $20 advance/$25 day of class March 24, 9 a.m. noon Ethics 3 hours CE No cost to members. March 25, 9 a.m. noon MLS & Your Liability 3 hours CE Free with REP; $20 advance/$25 day of class March 25, 1 4 p.m. Advanced Outlook 2007: Beyond Free with REP; $20 advance/$25 day of class March 31, 1 4 p.m. * TBR has a limited number of laptop computers available to registrants on a first-come, first-served basis. If you bring your own laptop, please arrive at least 15 minutes before class to allow for set-up. City Commission City of Tallahassee Mayor s Office John Marks, Mayor (marks@talgov.com) Andrew Gillum (gillum@talgov.com) Debbie Lightsey (lightsey@talgov.com) Mark Mustian (mustianm@talgov.com) Gil Ziffer (ziffer@talgov.com) Regular City Commission meetings are held in City Commission Chambers, 2nd floor, City Hall. For specific dates and agendas: index.cfm County Commission County Commission Office District 1: Bill Proctor (proctorb@leoncountyfl.gov) District 2: Jane Sauls (saulsj@leoncountyfl.gov) District 3: John E. Dailey (daileyj@leoncountyfl.gov) District 4: Bryan Desloge (deslogeb@leoncountyfl.gov) District 5: Bob Rackleff (rackleffhsd@earthlink.net) At-Large: Akin Akinyemi (akinyemia@leoncountyfl.gov) At-Large: Cliff Thaell (thaellc@leoncountyfl.gov) Regular County Commission meetings are held in County Commission Chambers, 5th floor, Leon County Courthouse. For specific dates and agendas: http: // schedule.asp Florida Association of REALTORS Orlando Office Tallahassee Office Technology Helpline Legal Hotline Website Florida Real Estate Commission Orlando Office Tallahassee Call Center Website dbpr/re MLS/Paragon Local Helpdesk LPS Supra Support Hot Line TALLAHASSEE REALTOR March 2010

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24 Home Mortgage Mortgage lending is our business. Service is our specialty. PRSRT. STD. U.S. Postage PA I D Tallahassee, FL Permit #801 Pictured above from left to right: Cathy Givens, ; Dana Cummins, ; Abby Smith, ; Dan Harrison, ; Glenarva Ryan, ; Margie Fletcher; ; Pat Gaver, ; Sue Odham, ; Kristi White, ; Bud Markiewicz, ; and Darla Grant, B A N K I N G I N S U R A N C E I N V E S T M E N T S Mortgage products are offered through Branch Banking and Trust Company, a Member FDIC and Equal Housing Lender. Loans subject to credit approval. BBT.com BB&T. Telephone: (850) Tallahassee, Florida Thomasvile Road Tallahassee Board of REALTORS