REAL Exclusive Magazine

Bunkers

By Jonathan Yarwood

People often have a torrid time in bunkers and develop a real fear of them. They can dramatically increase a player’s score without you noticing, really. Imagine if you got up and down more often out of a bunker and did not take two or three shots to get out, how many shots you could save!

Better bunkers are about understanding how the club works. The back edge of the sole of a sand iron is higher than the front. It acts like the rubber of a ship, ‘skidding’ the club across the sand. If the front edge ‘digs’ then the club gets buried and no longer skids. Many people are told to pick the club up and cut across the ball. In my experience that makes the club dig too much and the ball is either left in the bunker or thinned out. When the club is picked up in such a way, it creates what I call a ‘V’ shaped swing. Too sharp if you like.

In order to get the bounce to work, you must create more a ‘U’ shaped swing. This allows the club to ‘skid’ and the ball to come out on a consistent carpet of sand. I have created the shot you can see here which is the ‘sure out’ shot! Simply stand very wide, lean left, open the face slightly and lock your arms. Imagine you start at 6 o’clock on a clock face at address. Keeping your arms locked and using a turning motion of your torso to propel the stroke, simple swing back to 9oclock and through to 3 o’clock keeping your arms locked throughout. This creates a lovely ‘U’ Shaped swing, gets the club to skid and makes the ball come out consistently and with spin! Try it, it works a treat!

Jonathan Yarwood was originally from the United Kingdom, but relocated to the United States in 1996. After a few years as one of David Leadbetter’s senior teachers, Jonathan branched out on his own and has enjoyed an extensive career with a track record that speaks for itself: He has coached, 2 US Amateur Champions including this years champion Ben An, 2 US Girls Champions and 1 US Open Champion in Michael Campbell in 2005. That is 5 USGA champs in 10 years, which is a record in itself. Add to that the four number one juniors, 3 AJGA players of the year, a collegiate number one, a male and female nationally ranked number one as well as a winner on every major professional tour, you have a record to rival the best. Jonathan was voted a Top 20 teacher under 40 years old by Golf Digest in 2006, after 5 straight years of being in the best teacher in state rankings for Florida.

But Jonathan remains humble and states he is ‘just a small part of their success’. He enjoys teaching people of every standard equally. Having a state of the art academy at The Concession with an indoor video suite and putting studio he specializes in all areas of the game, making it a ‘one stop shop’. For more information visit www.golfjy.com or call 941.322.1465.

Copyright © 2010 REAL Magazine

Links to this article are encouraged.

Go Global

Government and Politics – Their Role In International Real Estate

By Patricia Tan

During a recent real estate conference in England, I had the opportunity to meet the Panamanian ambassador to U.K. and to hear him speak on the Panamanian real estate market. The occasion gave me cause to reflect on the role that governments play in their real estate markets, and how their policies and practices can influence the thoughts of international investors.

The downturn in the American real estate market over recent years has given us cause to reflect upon the ways in which government policies can influence a market. From the lack of control in lending practices to promoting tax credits as market stimulants, the U.S. property market and its investors have responded to government initiatives. We are now in an era where U.S.A. real estate is seen as an attractive investment for overseas buyers, and many of the reasons for this are direct results of the actions of our government: Low mortgage rates, relative weakness of the U.S. Dollar on the international currency markets, first time home buyer tax credits to create demand, support for our financial institutions and so on.

International real estate investors around the world pay great attention to the government and political stability of the countries in which they consider investing. We have certainly seen evidence of this in our own local real estate market as well as those of other countries in which we sell properties. Central America and the Caribbean are not necessarily the first areas to spring to mind when investors think about political stability, but consider these two examples – both countries in which we are seeing increased real estate sales activity.

Panama
In June 2009 Ricardo Martinelli, a successful, conservative business man upset Panama’s ruling party to win the presidency. Martinelli is a U.S.-educated free-marketeer, whose business empire includes supermarkets, banks and agricultural firms. He was chairman of the Panama Canal’s board of directors and Minister of Canal Affairs when the country voted to approve a $5.25 billion expansion of the Panama Canal, which has already created 2,000 new jobs and promises to engender many more before the project is finished in 2014. The Canal expansion drew world attention to Panama and fuelled price appreciation in its real estate market. The change in President, and his approach to more open government, has once again drawn world attention to this Central American country and we are seeing renewed interest in real estate in Panama. We are able to offer single family homes, condominiums and raw land investments, including some fractional offerings, and we see interest from Americans, Canadians and Europeans looking for a second home, retirement destination, or investment opportunity.

The Bahamas
Closer to our own shores of Florida is the Bahamas. Often seen as a “safe” place for real estate investment, the Bahamas has a reputation as a stable, developing nation with a government that fiercely protects and develops its tourism and offshore banking based economy. The Bahamas enjoys the third highest per capita income in the Western Hemisphere, and the highest in the Caribbean. This nation has come a long way from its origins as a pirate haven in the 16th and 17th centuries!

The government of The Rt. Hon. Hubert Alexander Ingraham, Prime Minister, was sworn in on May 4th 2007. It has continued to promote a tax friendly environment for individuals, trusts and corporations and to encourage investment in real estate and real estate development. No taxes on capital gains, corporate earnings, personal income, inheritance or dividends. International investment in real estate is encouraged, and foreign persons can enjoy a two year property tax exemption when they acquire land in the Bahamas. Our own international marketing activities have identified a need for quality beachfront properties for Floridians, other North Americans and British buyers looking for relaxed island living in a second home, where they can enjoy fishing, diving and other water sports.

The International Division of Prudential Palms Realty in Sarasota is planning a series of seminars on international real estate in Panama, the Bahamas and other destinations around the world. Call Patricia Tan on 941-504-9232 for more details. 

Patricia Tan was born in England, and moved to Sarasota in 1997. Her career afforded her the opportunity to live and work in many countries around the world, including Australia, Hong Kong, Singapore, Malaysia, Indonesia, Germany, France, Belgium, Netherlands and the United Kingdom. She spent five years as a Director of an American real estate franchise in England in 1990s. Patricia has served as Chairperson of Sarasota Association of REALTORS®’ International Council, and serves on Florida Association of REALTORS®’ International Operations Committee. She currently works as International Sales Director for Prudential Palms Realty. Patricia may be reached at 941-487-5107 or patriciatan@prudentialpalmsrealty.com.

Copyright © 2010 REAL Magazine

Links to this article are encouraged.

A Guide to Financial Fitness – Part IV

By Rhonda Coblentz

“Ragnar was a ninth century Norse king. He was a pirate, a raider, a conqueror, an explorer, and a wild man. The tough, fearless, rugged attributes of this Norse king are shared by all who participate in a Ragnar Relay.” Excerpted from www.ragnarrelay.com

New Adventures
After conquering a marathon, I decided to try an adventure race. In November, I joined a team of 11 others for the Florida Ragnar Relay, a wild and wooly race spanning 31 hours and 204 miles. My part in the race was three separate legs encompassing rural roads and odd hours. I vividly recall running across a state road somewhere between Tarpon Springs and Daytona Beach, in pitch darkness, with semi-trucks roaring past me at 80 mph, dodging snakes, and road-kill as my life flashed before my eyes. The danger was tangible and all I could think of was, “I am so glad I have a plan in place for my kids if I don’t make it back alive!” Forget the strain and the gravel, the dark and the running…I realized my personal asset allocation and risk tolerance were out of control, with my kids at the top on my mind.

Financial analysis took on a whole new meaning. It’s not often that we think about life and death, but when we do, and if we are responsible for those that we love, then their financial welfare becomes a priority.

Are you financially fit? Would your family be okay, if…?

New Year, a New Lifestyle
Enough mega-seriousness, let’s get back to fitness. Every New Year, we Americans flock to the gym in record numbers. We hop on the treadmills, yank on the strings of yo-yo diets (don’t touch those carbs!), and re-focus on fitness. We’ve egg-nogged our way through the holidays and now we’re back to grapefruit juice. But in the recesses of our memory, we’re plagued with last year’s resolutions and that nagging word, “lifestyle.” We know the truth: we have to change our lifestyle if we want fitness to last. Darn!

As I pull on my running shoes and hit the roads, I’m reminded once again of the parallels between physical and financial fitness. Establishing a lifestyle. Engaging discipline. And even the fact that age makes such a difference. Physically, the younger we are, the easier it is to get fit, stay fit, and look great. The older we are, the harder it is to lose 10 pounds and stay strong and lean.  The same is true financially. The numbers are in favor of the young. If a 25 year old saved $200 a month, by time he was 50 with compound interest at 6%, that young man would have saved $138,599.00. If a 40 year old wanted to reach $138,599.00 by the time she was 50, she’d have to save $845.74 per month!

If you are 40, 50, or more…don’t let those numbers stop you from getting in shape in body or portfolio. It is never too late to make positive changes. And whether training for a triathlon (my next adventure!) or creating a legacy to pass on to the next generation, good coaching is essential to overcoming obstacles and reaching your dreams and goals.

A New Urgency
Where did 2009 go? Where did the last decade go? Where did your earnings go? Are you budgeting your time, energy, and money any differently than last year? No more excuses! As a financial professional, it is my job to help you understand the urgency of establishing a solid financial strategy today. There was no way I could have shown up on race day and survived the Ragnar Relay without serious preparation. And there is no way we can show up for retirement without establishing a plan, covering risks and contingencies, and fine-tuning and adjusting as we race from here to there. The clock is ticking………..

In Part II of this series, I introduced the concept of “YOU, INC.” By treating yourself as you would a successful business endeavor, YOU, INC. must have a competent board of directors—starting today. Your financial success depends on creating a great team to help you reach your target. At the Principal Financial Group®, we are backed by historical success, skilled financial professionals, and our advanced solutions department. We work together with attorneys, CPAs, and financial advisors to guide complex business decisions, legacy and successor planning, exit strategies, and more. In fact, we work together with your own CPAs and attorneys to communicate clearly to help you reach your goals.

Whether you are just starting out or straining toward the finish line, your financial coach can help give you the edge you need to run hard, run well, and reach for victory. Let’s get fit. Call today to find out more about planning for your financial goals.  Because your financial journey is one adventure you can’t afford to miss.

Insurance products from the Principal Financial Group® are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. Securities offered through Princor Financial Services Corporation, 800/247-1737, member SIPC. Principal National and Principal Life, and Princor® are members of the Principal Financial Group®, Des Moines, IA 50392. Rhonda Coblentz, Principal National and Principal Life Financial Representative, Princor Registered Representative. #6474082011

As a Financial Representative and Registered Representative with the Principal Financial Group®, Rhonda Coblentz works with individuals and business owners in the planning and execution of the steps  to help achieve their unique financial goals.  With a background in the real estate and mortgage industries Rhonda offers a well-rounded approach to her business. Rhonda acts as a resource for her clientele, who benefit from the firm’s 130-plus years in the industry.  The Principal® offers financial products and services, including 401(k) plans, IRAs,  mutual funds, investments, insurance, and banking services . Contact Rhonda at 941-504-9010   #6531082011

Copyright © 2010 REAL Magazine

Links to this article are encouraged.

1031 Exchange Qualified Properties

By Jeff Riddell

Over the last several articles, we have covered real estate investing for various age groups, from youngest to oldest. One thing is common to all of the age groups: There will come a time when every real estate investor decides to dispose of his investment. If you don’t like to pay capital gains tax (or recapture of depreciation, if applicable), we should touch on the subject of 1031 exchange. The sleeping giant has in fact started to awaken. After my company, U.S. 1031 Exchange Services, Inc., facilitated over 500 exchanges in 2005, business tanked but is slowly reviving. Believe it or not, there are people who are selling real estate at a profit. Next article, we’ll discuss the 1031 exchange process, but for this article let’s take a look at what kinds of real estate qualify for a 1031 exchange.

There are common misconceptions about properties that qualify for 1031 exchange. Hopefully this article will clear things up. Remember, 1031 exchanges are for both real estate and personal property, but the following discussion is about real estate since this magazine is about real estate.

IRS says that properties qualified for 1031 exchange are those that are held for investment or productive use in a trade or business. A rental property is a business for tax purposes; and any real estate where you conduct a profession, trade or business is also 1031 qualified because it is property held for business use. By comparison, vacant land is almost always held for investment, not for business use—unless it is a farm or ranch. Personal use properties such as your primary residence or vacation home are generally not qualified for 1031 exchange unless you discontinue personal use and embark upon a rental program for the property.

Big companies exchange manufacturing plants, distribution facilities and similar large properties where they conduct their business. For those who are on a smaller scale, such things as a grocery store, clothing store or hardware store in which they operate a trade or business may also be 1031 exchanged, but not if the business owner rents but does not own the real estate where the business operates—some will claim that personal property used in the business can be exchanged, but such personal property exchanges are challenging to say the least. If you’re a professional—doctor, architect, dentist, lawyer, veterinarian, etc.—the real estate where you practice is also 1031 qualified if you own it. When a business or practice is sold that involves real estate and other business assets such as furniture, fixtures, equipment and goodwill, the seller should consider allocating the sale price among the asset classes so that there is a specific portion of the price applicable to the real estate. By doing this, the seller can then decide before closing whether to 1031 exchange the real estate portion.

Some of the real estate investments that we have discussed in the last several articles will not qualify for 1031 exchange. If you own shares in either a public or private REIT for example, you cannot exchange out of the investment because you actually own shares of stock instead of real estate. LLCs that you might have invested in are either characterized as corporations or partnerships for tax purposes. Although for small partnerships and LLCs that are taxed as partnerships there may be a way to convert to direct real estate ownership such as tenant in common, there is no way to convert shares of stock in a corporation to real estate qualified for 1031 exchange.  Any direct fractional real estate ownership such as tenant in common should qualify for 1031 exchange.

Now that you know what qualifies, in the next article we’ll talk about the mechanics of 1031 exchange.

Jefferson F. Riddell is a Florida Board Certified Real Estate attorney with thirty-five years of experience assisting people with a variety of residential and commercial real estate matters. U.S. 1031 Exchange Services, Inc is a 1031 exchange qualified intermediary (QI) and a member of the Federation of Exchange Accommodators (FEA). As President of U.S. 1031 Exchange services Jeff has been facilitating 1031 exchanges for more than twenty years. Jeff has been awarded the Certified Exchange Specialist (CES) certification. Jeff may be reached at 941-366-1300 or via email at jeff@us1031.com. www.us1031.com

Copyright © 2010 REAL Magazine

Links to this article are encouraged.

REAL Magazine December 2009

Featuring: Pamela Hughes/Hughes Design Associates, Pam Charron/Prudential Palms Realty, Marilyn Schroeter/Platinum Coast Construction and Sarasota National Cemetery.

Read More

December 2009 Exceptional Properties

Fine Homes and Luxury Estates for Sale Over $1,000,000

Exceptional Properties Cover Feature:

Kathy Hoonhout, Coldwell Banker Residential Real Estate 941.228.3945

3310 Riverview Boulevard, Manatee River, Bradenton, Florida

Located on the Manatee River, 3310 Riverview Boulevard is a custom estate home designed and built by Platinum Coast Construction. This newly constructed residence boasts 5,700 square feet of unique architecture detail built to the highest specifications. The home has deep water access for boating in a very private setting. Outside or in this home is perfect for exceptional entertaining. Read More

Jason Champion

Christmas Decorating, Coldwell Banker Style

By Ed Bertha

A special Coldwell Banker gathering held at Barbara Ackerman’s “Johnson Estate” listing on Longboat Key afforded me the opportunity to meet Jason Champion. Read More

Suncoast Porsche

Panamera Launch

October 22, 2009

West coast of Florida exclusive launch of the Porsche Panamera held by Sarasota, Florida’s Suncoast Porsche. Read More

Pam Charron

Prudential Palms Realty

Beyond The Ordinary

By Lalaena Gonzalez-Figueroa

Photography by Chad Spencer

A consistent top producing agent who closed nearly $20 million in 2007, real estate professional Pam Charron is hitting the Sarasota market with the same unwavering drive and commitment to customer care that have earned her accolades, respect and loyalty among her colleagues and clientele. Read More

REAL Magazine Anniversary Edition – A Year to Remember

By Tracy Eisnaugle

To celebrate the wonderful success of REAL Magazine and my overwhelming gratitude to Ed Bertha for his faith in me to provide a monthly editorial column, as well as to write articles for both the website and the magazine, I would like to use this inaugural edition to look back on the wonderful experiences I have had with REAL over the past twelve months.

Writing the feature home article for each edition’s cover has been an incredible experience. Meeting exceptional real estate agents and taking personal tours of some the Suncoast’s most exquisite residences has been both memorable and intriguing. I have had the opportunity to visit outstanding homes spanning from Palmetto and Lakewood Ranch as far south as Casey Key and Osprey and everyplace in between.

Being a local girl who has lived in Sarasota since the age of seven, I was honored to also be able to contribute the community/charity piece each month for REAL magazine. Highlighting our community’s vast charities and impactful organizations has given me the opportunity to get reacquainted and to learn more about our precious organizations.

Along the way I was able to get behind the scenes of some of our areas newest and oldest attractions. Ed and I had the rare opportunity to jump aboard John and Mable Ringling’s Wisconsin railcar to take an educational ride through history. We revisited the Ringling’s impact on our community as we glimpsed into the future for an exciting tour of the Ringling School of Art & Design campus to experience their new “green” state-of-the-art buildings.

I was able to discover the great work being done by many local charities including the United Way Realtors for Kids program, where we held a REAL Magazine golf tournament to benefit their passionate cause. Keeping with the ever so important task of helping our youth we recognized the amazing work being done by The Heart Gallery of Sarasota, there heartfelt goal is to place foster children with forever families. And last but not least we were able to reveal the enchanting plans for the Children’s Rainforest at Selby Gardens.

Catering to those who share my love for animals we highlighted some of our local animal organizations. I found myself in awe of Kay Rosaire and her exotic family at the Big Cat Habitat and Gulf Coast Sanctuary. Just as inspiring was our trip to Southeastern Guide Dogs where we were able to see firsthand the love and dedication that goes into training these hardworking canine heroes. While touring the remarkable South Florida Museum it was wonderful to get reacquainted with my old school pal Snooty, who by the way spell checks as Snotty which is very dangerous in my field of work.

Taking my passion for food a step farther we shared with our readers the incredible contributions made by the All Faith’s Food Bank. I also had the great pleasure to write a piece on my mentor, past employer and great philanthropist Lee Wetherington. I was touched when we decided to showcase SPARCC a remarkable local agency that works tirelessly to put an end to domestic and sexual violence. We completed the year with a visit to the Sarasota National Cemetery where our veterans are given an eternal memorial for their honorable sacrifice.

I have opened myself and my home to REAL readers, giving you a glimpse into my personal life through my monthly editorial column. Sharing a wide range of subjects from my “green/ Recessionista” lifestyle, marking tips, garden planning, color trends, model home tips and tricks, and interesting new items from the builders conference.
 
Working with the REAL team has made this past year both entertaining and memorable. I hope you have enjoyed your first year of REAL Magazine as much as I have enjoyed contributing.

Tracy L. Eisnaugle has practiced interior design in Sarasota since 1997 and is currently self employed providing design consultation services in the area. She is a graduate from Florida State University with a Bachelor of Science in Interior Design and continues her education by attending annual conferences. Her past experience includes, Design Center Manager for Lee Wetherington Homes, high-end residential design and model merchandising. Tracy may be reached at 941.232.3358 or by e-mail at tleisnaugle@msn.com.

The Architectural “Process” Continues

By Clifford M. Scholz

The design work is complete and the contractor has been selected…………..the next step is the production of the construction documents.

These are the drawings and the specifications that will enable a contractor to apply for a building permit and/or additional permits, accurately provide a complete bid for time and construction costs as well as provide the guidelines for the actual construction of the project. These drawings typically will include architectural, structural, electrical power and lighting, mechanical systems and plumbing systems design.

The first task is to do a complete zoning and building code review. This is a step that we repeat many times through the development of the design and this is our last chance to review the parameters prior to the actual start of our construction document work. After that re-check is finished and the design conforms to the applicable codes we then decide who will be on our team of consultants. This process is important to pick out the structural, mechanical and electrical engineer that we feel is most competent for the given design. After so many years, our list is rather short for those consultants that we know will perform up to, or exceed our standards. Every project is different, as we never repeat a design, and some consultants have particular abilities that will better serve particular projects. The selection is also dependent on timing as to who we believe can match our timetable.  These factors are considered in conjunction with their proposal for their scope of work and their fee structure. With all of this information and some insight, we then select the team.

It is somewhat funny that we have just spent a great deal of time designing the structure and putting it together and now we begin to take the design apart and re-assemble the design in parts after each segment is reviewed and modified to fit the “puzzle”. It is reminiscent of fitting together a “Rubik’s Cube” after you have taken it completely apart. There are an unbelievable number of parts and elements that have to fit seamlessly and integrate together to make the design whole again. This is an arduous project and demands the foresight and diligence of a leader, and the patience of Jobe. Coordinating the design work of all of the consultants is really like a conductor leading their team in concert. The result is frozen music, or architecture.

Coordination and communication are the imperative elements of a successful set of construction documents. There is no room for “thin skinned” designers while completing a good set of construction documents. The CAD operators and the project manager are all designers. They may not have created the design, but their skill in crafting a good set of documents means that they are constantly designing the details while communicating them to all team members. These members include the contractor, specification writer, structural engineer, mechanical engineer, electrical engineer, interior designer, acoustical engineer, lighting designer, landscape architect and last but certainly not least, the owner. After numerous hours of laboring the task, the check set is produced. This is the set of documents that is proposed to be completed. My partner, Larry Hale, and I review this very carefully. This is when experience becomes an incredibly important element in the process. Just think about it…..the firm has probably expended anywhere from 2,000-10,000 hours in developing this design and this is our last chance to review and tweak the details and thus the design.

The check set mark ups are completed by the team and there is now a set of construction drawings ready to be reproduced and bid out by sub-contractors, reviewed by permitting authorities and used by all parties to ascertain the work to be accomplished.

As founder of CMSA, Cliff has over 35 years of experience in architecture and construction. His sense of design and clear-cut goals has created a reputation for quality and excellence for his firm. As lead architect, he is responsible for the design of projects consisting of custom residential developments, office structures, commercial renovations, golf clubs and high-rise condominium buildings. He takes a proactive role in every project as the client contact, and directs his team of highly skilled professionals to keep every endeavor in balance.  Cliff received his Bachelor of Science in Architecture from Lawrence Institute of Technology in Southfield, Michigan, and a Bachelor of Architecture from the University of Miami in Coral Gables, Florida. Cliff is also a Licensed General Contractor in the State of Florida and certified as a LEED AP. Cliff may be reached at 941-923-2400 or via email at cscholz@cmsa1.com.

Are You Protecting Your Home?

By Steve Murray

As we enter into the cooler weather and with it the end of the hurricane season, we can be thankful for a quiet year during 2009. Not once this year did we have to stop work at our job sites and prepare the half-built structures for a possible “big wind”. Not only is this good news for our tourist trade and local economy, but it allows the CAT Fund, underwritten by Florida taxpayers, to carry over to next year without paying out for a natural disaster. Yet more importantly, it is good news for all of those homeowners that live in our county and don’t have adequate protection within their homes to defend against hurricane force winds.

If you have ever seen first hand the absolute devastation following a major storm such as Andrew, Charley or Katrina, you would immediately take steps to inquire how you could prevent that damage from happening to your home.

In a hurricane, the pressures on a house are enormous. If a window or door breaches, it is the differential in pressure that causes a sudden rush of air into the house that then blows out garage doors, windows and French doors, lifts drywall from ceilings and causes roofs to fail with catastrophic consequence.

All of the waterfront homes that we have built since 2001, when the new impact code for new construction was passed, include the most stringent forms of protections against wind, weather and surge. Masonry and exterior frame walls have all been beefed up to withstand impact and uplift pressures; new construction homes are required to be built above the relevant flood plain, thereby combating flood waters and surges; but by far, the best form of protection for a house is to install either impact windows or shutters.

 Impact windows are designed with toughened glass to protect against hurricane force winds and flying debris. In addition, they provide security against intruders, dramatically reduce outdoor noise and can filter out over 90% of UV light. The negative side to impact windows is the cost of the window itself and the cost of installation.

A versatile alternative is to install shutters on your home’s openings. Depending upon your budget, the design of your house and the ease of installation, there are many types of shutters to choose from including Lexan panels, rolling shutters, accordion shutters, Armor Screen and Bahama or Colonial shutters.

The evidence is clear. When news cameras flew over the devastation of Hurricane Charley, it was shockingly apparent which houses had been built to the new FEMA codes and which houses had no defense against the destructive 145mph winds.

Having just survived another hurricane season, now is the time to assess what you can do to ensure that your home survives many more.

Steve Murray is the founder and owner of Murray Homes a residential construction company specializing in building custom waterfront homes on the Keys of Sarasota. He also owns Murray Realty with his wife Bev. Murray Realty is a full service real estate company offering customers a first class experience in finding, evaluating or selling houses and lots, primarily on the waterfront. Murray Homes is a Certified Building Contractor #CBC1250846

If you are interested in buying, selling or building in this new economy, call Steve at 941-906-7000 or visit his websites at www.murrayhomesinc.com or www.murrayrealty.net or by email at steve@murrayhomesinc.com.

Ever Duffed A Chip?!

By Jonathan Yarwood

Ever duffed a chip?! This may be why! The traditional way of standing is to move the weight forward. The problem is, the lower body weight goes forward and the upper body weight actually goes back. This has the effect of the club ‘bottoming out’ behind the ball. Try the way all my pros and elite amateurs chip, namely, set up with the upper body weight forward. Imagine your shirt buttons are ahead of the ball at address. This will allow you to hit the ball first and ‘pinch’ the turf with the club afterwards.  Another important thing that is often over looked by amateurs is how far away to stand. One of the ‘pro’s’ secrets is to stand very close to the ball. To the point where the ‘heel’ of the club comes off the ground slightly. Standing this close does several things, one, it makes the club stay in front of you going back and does not allow it to get ‘stuck’ behind you. Two, it allows your arms to be ‘linked’ to your body, so the bigger muscles eliminate the error inducing smaller ones to an extent. Thirdly, the heel of the club up in the air takes the ‘bounce’ out of the club and encourages a more solid contact. Try standing close with your upper body ahead and put a towel under your arms. Then make a rocking motion with your shoulders keeping the towel in place. That will give you a great feeling of connection and produce lovely consistent and solid chip shots!

Jonathan Yarwood was originally from the United Kingdom, but relocated to the United States in 1996. After a few years as one of David Leadbetter’s senior teachers, Jonathan branched out on his own and has enjoyed an extensive career with a track record that speaks for itself: He has coached, 2 US Amateur Champions including this years champion Ben An, 2 US Girls Champions and 1 US Open Champion in Michael Campbell in 2005. That is 5 USGA champs in 10 years, which is a record in itself. Add to that the four number one juniors, 3 AJGA players of the year, a collegiate number one, a male and female nationally ranked number one as well as a winner on every major professional tour, you have a record to rival the best. Jonathan was voted a Top 20 teacher under 40 years old by Golf Digest in 2006, after 5 straight years of being in the best teacher in state rankings for Florida.

But Jonathan remains humble and states he is ‘just a small part of their success’. He enjoys teaching people of every standard equally. Having a state of the art academy at The Concession with an indoor video suite and putting studio he specializes in all areas of the game, making it a ‘one stop shop’. For more information visit www.golfjy.com or call 941.322.1465.

By Patricia Tan

Gledelig Jul         Buon Natale        Boze Narodzenie         Joyeux Noel      
 Rozdjestvom Hristovim         Feliz Natal         Frohliche Weihnachten        
Happy Christmas         Prettige Kerstdagen         Vesele Vanoce         God Jul

Many of us know how to give holiday greetings in at least one other language, whether from our own family heritage, because we have friend or family member from another country or through commercial and musical influences. But how many of us can recognize every language at the top of this page?

Communication is key to a successful business transaction, and good communication can be more challenging when working in an international environment. While on a recent marketing trip to England, I was struck once again by the many differences between the English and American languages. George Bernard Shaw described the United States and Britain as “two nations separated by a common language” and this is perhaps no more evident than in the real estate business.

In preparing for my recent trip to U.K., I had to remember to invite clients to visit our stand, rather than booth at the international property show, and of course our invitations had to use the British date format of dd/mm/yyyy – get that wrong when you write a check, and it could have interesting consequences!

Once I landed in Birmingham (UK not AL) International Airport I had to quickly attune my ears to the local “Brummie” accent, which is one of England’s most difficult to decipher to the uninitiated. Language problems don’t just stem from differences in vocabulary! Upon arrival at the exhibition hall is was delightful for me to be greeted as “love” and “petal” by some of the tradesmen there, but a little disconcerting for my American colleagues to hear such terms of endearment from people they had never met before.

The property show lasted three days, and we also gave a series of seminars on U.S. immigration and real estate investment. Our discussions with visitors spanned everything from title to taxes, and drywall (the Chinese variety) to death (the tax implications) and we did encounter some language problems along the way, and our translation skills were tested on many occasions. Here are a few highlights from this trip:

AMERI-SPEAK    BRIT-SPEAK

Listing      Property for sale
Seller      Vendor
Single family home    Villa
Villa      Semi-detached, terraced house
Condominium     Apartment, flat
Home inspection    Survey
Survey      Survey (yes, surveyor inspects the home too)
Drywall     Plasterboard
Homeowners insurance    Building and contents policy
Insurance deductible    Excess
Foreclosure     Repossession

Some words of course are recognized instantly, no matter what your mother tongue may be.  They are usually the unpopular words that no-one likes to hear – “Tax” for instance! Thank goodness for the universal language of numbers and money, as there is no margin for error in negotiating a price, quoting a mortgage rate or discussing rates for income, capital gains and estate taxes!

…. Oh! Those holiday greetings at the top of the page? For those of you who have so patiently read this far, the countries are listed here. Space allows for only one country per phrase, and some of these greetings are used in more than one country. My apologies if your country is not listed here, but let me take this opportunity to extend Season’s Greetings to you. Happy Holidays!

Countries in order from the top of the page: Norway, Italy, Poland, France, Russia, Brazil, Germany, England, Netherlands, Czech Republic and Sweden.

Patricia Tan was born in England, and moved to Sarasota in 1997. Her career afforded her the opportunity to live and work in many countries around the world, including Australia, Hong Kong, Singapore, Malaysia, Indonesia, Germany, France, Belgium, Netherlands and the United Kingdom. She spent five years as a Director of an American real estate franchise in England in 1990s. Patricia has served as Chairperson of Sarasota Association of REALTORS®’ International Council, and serves on Florida Association of REALTORS®’ International Operations Committee. She currently works as International Sales Director for Prudential Palms Realty. Patricia may be reached at 941-487-5107 or patriciatan@prudentialpalmsrealty.com.

Seniors And Real Estate Investing

By Jeff Riddell

Last article, we discussed real estate investing for those folks in the 50-65 age range. Next is the 65-80 group—with due respect because I am one of them, I’ll call them seniors. If you are in this age bracket, it goes without saying that you should have started your real estate investing career earlier. At this age you will not be able to use the power of leverage and compounding to create wealth from real estate to the same extent as those who started young, but you should still have some real estate in your investment portfolio. Passive real estate investments may be most attractive at this age. This is the capital preservation stage of life for most people, so seniors should avoid riskier real estate investments—either personally or as part of a group. Nevertheless, even at this age, real estate in your portfolio will provide diversification; and diversification hedges the loss potential of a concentrated portfolio.

There is a source of funds for real estate investing that many seniors have not explored; it’s called a reverse mortgage. If all of the owners of your home are at least 62 years of age (both you and your spouse, if married), you may be able to take out a reverse mortgage. By taking out a reverse mortgage, you could buy income producing real estate which would then provide additional monthly income while both your home and these investments continue to appreciate and grow in value. You don’t have to make any payments on a reverse mortgage while you are alive; the mortgage is paid off when your heirs sell the property, and of course, you could get rid of the reverse mortgage at any time (sell, refinance, etc.), but for a few seniors there may be another real estate investment funding source. It involves life insurance. If you have a life insurance policy, it may be possible to borrow against it to buy real estate. If you can earn more on your real estate investment than the interest you pay on the policy loan (positive leverage), a policy loan may work in your favor.

But for some seniors there is something even better—it’s called “life settlement,” and it may be attractive to those who have a life insurance policy that they don’t need anymore. Reasons for no longer needing a particular life insurance policy might include: your spouse is gone, your children are well-to-do in their own right, you have other assets to leave to the children or you have a life insurance policy that was part of an earlier estate plan but it is no longer necessary—or even a “key man” policy for a business that no longer needs it. Here’s an example: a 78 year old had a $5 million policy and the premium had to be paid each year. He was tired of paying the premiums and didn’t need the policy as much as when he was young and his wife was alive and the children were growing up, but he didn’t want to let the policy lapse because it had surrender value of about $285,000. He thought about cashing in the policy and using the $285,000 to invest in real estate—until he was told about “life settlement.”

The policy was shopped to several life settlement brokers who took all of the information about the policy and the insured. The life settlement companies then evaluated the man’s age, health and life expectancy; and when the analysis was complete, the highest offer for the policy was $1.5 million. He took the offer, the life settlement company took over the premium payments and the policy’s prior owner invested the $1.5 million in REITs and other real estate; his monthly income increased as a result. This is not for everyone, but any senior who has a life insurance policy that has outlived its usefulness should know about life settlement. However, policy purchase prices vary widely and the tax consequences of a policy sale need to be considered.

Jefferson F. Riddell is a Florida Board Certified Real Estate attorney with thirty-five years of experience assisting people with a variety of residential and commercial real estate matters. U.S. 1031 Exchange Services, Inc is a 1031 exchange qualified intermediary (QI) and a member of the Federation of Exchange Accommodators (FEA). As President of U.S. 1031 Exchange services Jeff has been facilitating 1031 exchanges for more than twenty years. Jeff has been awarded the Certified Exchange Specialist (CES) certification. Jeff may be reached at 941-366-1300 or via email at jeff@us1031.com. www.us1031.com