REAL Exclusive Magazine

September 2009 Exceptional Properties

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

Exceptional Properties Cover Feature:

Steve Murray, Murray Homes, 941.350.7777

Bev Murray, Murray Realty, 941.724.4995

667 Mourning Dove Drive, Bird Key, Sarasota, Florida

Sarasota, Florida’s 667 Mourning Dove Drive on Bird Key, a new custom home, sits on Sarasota Bay with stunning views to the mainland, Siesta Key and Big Pass. Designed by CMSA Architecture’s Cliff Scholz and constructed by Murray Homes the estate was built to the highest standards utilizing the finest craftsmanship and materials. Bird Key’s 667 Mourning Dove Drive is available fully furnished. Read More

Desires, Goals And Dreams

By Clifford M. Scholz

In the steps that we use at CMSA in order to unfold the “Process” for our clients, the following step is the most subjective and most likely one of, if not the most important step in the “Process”. All of the steps are critical and important in creating a great final product, but this is undoubtedly, the one that will either make the creation the perfect solution for the client, or make it just another structure.

This step is to understand the client’s desires, goals and dreams. We accomplish this understanding through a number of venues. For the most part it is a series of conversations and verbal interactions where I discuss and inquire about the client’s current lifestyle, family and work routines. Being a great listener is imperative if you want to really get the full message from your client. People who come to us to have a new living environment created for them are generally in a positive mood. Through intuitive questioning and great listening, it is not very difficult to get our clients to respond and describe their desires, goals and dreams. I know when the interaction is working as it becomes a truly two-way interaction and not a one sided conversation.

Visual aids are a perfect centerpiece for many two-way interactions with our clients. The “one picture is worth a thousand words” is 100% true in these circumstances. We happen to have the walls of our conference rooms filled with photographs of our finished projects. We do this for a couple of reasons. First, we are very proud of our work and we love to display them. Second, it is a marvelous catalyst for client interaction. When a client sees the many examples of our work, it relaxes them. They are then able to comment on the positive and negative parts of our past work and how it relates to their specific desires, goals and dreams. I also love it when a client brings photographs of designs that they are attracted to and would like to explore. The process is happening when the honing of the clients desires, goals and dreams is happening, regardless of the medium.

Undoubtedly it is a fun filled process, but it must also be harnessed to become a reality. This is a 3- dimensional thinking process. Soaking up all of the great design ideas and finishes, along with future thoughts of family gatherings and entertaining, plus tempering those thoughts with zoning issues and building costs. I like to tell my clients that we are very thick and thin skinned at the same time. I can take criticism very well (thick skinned) when it is for the good of the project, but I also do not take it well (thin skinned) when it is for self sustaining reasons that have no relevancy to the project. I think a great architect has to have the ability to be able to “soak up” the embellishments as well as temper them with reality in order to deliver to the client a workable solution without having the client on a tricky and uncomfortable roller coaster ride. The variables are many, and it is only the experienced architect that can discern through the unimportant trivia and work competently with the pertinent criteria of the project.

It certainly can be quite dynamic. It is a lot of information and a lot of emotion all at the same time, mixed with a real dose of reality. It is truly a great responsibility to have a client share their personal desires, goals and dreams and to be able to turn that into a reality. It is the “flow” of this process that makes this profession so fulfilling.

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.

Middle Age Real Estate Investing

By Jeff Riddell

Last article we discussed real estate investing by young folks. But what if you are older and your time horizon shorter? Let’s discuss the 35 to 50 age bracket next—I’ll call it middle age.  Although many people are well into real estate investing by the time they are in this age bracket, let’s assume you are just getting started. If you’re 40, you likely have at least 25 years before retirement; probably more because I believe the days of retiring by 65 are numbered. The entry strategy for this age bracket depends of course on how much savings, discretionary income and other investments you have. Rental houses are still a good place to start, and the accumulation may be accelerated if you have funds that can be tapped or other investments that can be fully or partially liquidated.

If you can lay your hands on $50,000 for example, you may be able to start with a multifamily property. Economies of scale favor multifamily properties over single family houses. A four-plex usually requires less work than four single family houses and the per unit price of a multifamily property is usually lower; you will need to look harder to find four-plexes but they are out there.

Let’s assume you are 40 years old, have been working for 15 years and can manage the $75,000 down payment. This would allow you to buy a nice four-plex—around $300,000—with conservative 75% financing.  The higher the LTV (loan to value), the greater the cumulative return on equity is likely to be, but most people want a property where the rents will at least pay the mortgage and expenses so sharpen up your pencil to see how aggressive you want to be with financing.

There are a total of 15 years in the 35-50 age bracket, and fifteen years may be enough time to at least quadruple a $75,000 downpayment. Assuming a $300,000 four-plex appreciates five percent a year ($15,000), the annual return on the $75,000 downpayment should be about 15% after expenses.

If you could add about $25,000 to your real estate investment piggy bank each year between ages 35 and 50, you might be able to buy another four-plex every other year or so—or maybe even evolve out of four-plexes to larger multifamily properties. There are a lot of eight to sixteen unit apartment buildings around.

Rental properties can include residential condos of course. But speaking of condominiums, another approach to getting started is to target a “condo-ized” office building and buy a unit. If you are on your own and need one, you might even make it your office. After you buy the first unit, put the word out that you might be interested in buying more units in the building; encourage other owners to call you first before they list with a real estate broker. I have known people who have ended up owning an entire office building—a piece at a time—by this approach.  It could take years, but in my judgment, real estate investing should be for the long haul anyway.

Next article, we’ll talk about baby boomers.

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.

Go Global – Coming to America

By Pat Tan

Many of us will remember the hilarious antics of Eddie Murphy in the film Coming to America, where he plays an African prince trying to understand the American way of life. As an international REALTOR®, I regularly work with individuals and families who wish to emigrate to U.S.A. and settle here. Having gone down that route myself in 1990s when we emigrated here from England, I try to make my clients’ journey as smooth as possible and find myself giving advice on many different matters.

To emigrate to another country is a life changing decision, and not one to be taken lightly. It requires detailed planning, and a team of experts to help execute the plan. A key partner in drawing up that plan should be a U.S. immigration attorney, and preferably one whose practice is dedicated to immigration law. Following detailed discussions, the immigration attorney will map out a plan to achieve the would-be immigrant’s goals. The plan may include many steps and require several years to get the client from their “alien” status to become a green card holder, or citizen of the United Sates of America. For instance, the immigration attorney may advise a client not to dispose of any business interests in their home country, as they could be valuable tools in a visa application.

The immigration attorney and the client then assemble a team of professionals to help execute that plan. The team may include: accountant, banker, business attorney, business broker and a real estate advisor. Once the team is assembled, the hard work begins.

I encourage my clients to do lots of research first. They need to understand the demographics of the location they plan to move to – population, age, education, income levels. They also need to look into the commercial, business and economic environment.
 
It is important that they don’t assume things work the same way as they do in their home country. They rarely do. Hence, the need for local professionals to help avoid mistakes that could be costly.

Ideally, new immigrants should have enough cash reserves to get themselves established here.  They cannot obtain loans or credit cards until they have a U.S. credit history. They may also encounter problems obtaining insurance, opening accounts with utility companies, and even opening a bank account can be challenging.

Any real estate decisions should also be supported by lots of research. The house may be great, but what about the schools, age of the neighbors, HOA rules and regulations, impact of any planned development nearby for instance. Similarly for commercial buildings: with they meet the present and planned needs for a business, are they easily accessible, and close to core market areas?  Financial implications of leasing a building versus owning one should also be considered.

Prospective immigrants should not expect the purchase of U.S. real estate to be in any way similar to the process used in their home country. Typically things move faster here, and any deposits made may be at risk if contracts are not written to protect them and their money. In many countries, for instance, contracts are negotiated verbally and may not be written down and binding for several days or weeks after negotiations are concluded. In many countries, real estate agents are not licensed and the markets operate very differently from ours.

Education is a very important aspect of immigration for families, and they first need to understand the structure of our schooling system which may vary greatly from that of their home country. They need to be assured that their destination city can provide their children with a great education. They will often look at private as well as public schools to find the best fit. Children may take some time to adjust to a new school and environment.  For instance, most countries in the world no longer use the imperial measurements of feet and inches, pounds and ounces. A child used to working in meters and centimeters, kilos and grams may need some assistance. Language may be more or less of a problem to a child entering the school system here, depending upon their proficiency in English. However, I remember my own young sons, whose first language is English encountering a few challenges – fire hydrant, flashlight and kindergarten were all new words for them as I recall!

My intention here is not to scare away those looking to settle in America – far from it.  AS Miguel de Cervantes, the author of Don Quixote said:
 
Forewarned is forearmed.  To be prepared is half the victory!

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.

Ready Set Market

Part II

By Tracy Eisnaugle

Last month we started discussing design consultation or staging techniques to assist in the process of getting your home or listings ready for the market. This month we will continue the discussion with additional tips and pointers remembering that our goal is to de-personalize and de-clutter the residence. Potential buyers need to be able to visualize their own style and furnishings in the potential home, if a home has too much stuff even if it is great stuff buyers can become overwhelmed and distracted.

Here is a list of additional pointers to assist those of you who are selling your current home or working with clients to sell theirs.

 If you have a home that is full of framed photos, silk plants and knick-knacks it is time to pack them up, open the spaces and allow the house to breathe. A few accessories add flair and interest, but too much is simply too much! Please do not remove these items for the photo shoot or hide them in closets, go ahead and box them up, send a message to the universe that it is time to pack up and move on.

 All closets including pantries and linen closets need to be cleaned and organized. Box seasonal items that are not needed, those innovative waterproof vacuum bags are perfect for safely packing away these items for the future move.

 Remove all of the small multiple floor rugs from bath rooms, kitchens, laundry rooms and throughout the home especially for photography and showings. The future homeowners want to see the tile and floor coverings in those spaces. Large rugs in main living areas and dining areas are fine they add sound absorption and color it’s the small tedious rugs at every door that can become distracting.

 Think casino, have you ever noticed that you never see a clock or a phone in a casino, that is because they don’t want you to think about those things, they want you to lose track of time and responsibilities. So pack up the additional alarm clocks, phones and even bathroom scales we don’t want potential buyers to realize that they still have ten more homes to see, need to make a phone call, or need to hit the gym we want them to relax and think about living in the space.

 Remove all dated materials such as calendars, newspapers and magazines especially if the home is occupied seasonally. Nothing is worse than looking at a photo and seeing a calendar with a date from two years ago, potential buyers will assume the home has been on the market too long and start questioning why.

 As for holiday decorations, please do not decorate your home for the holidays if it is on the market especially when photography is scheduled. I understand that we have to live in our homes during the holiday season but we tend to go overboard with decorations and it is impossible to see the forest for the trees.

 Again…Clean, clean, clean.

With so many wonderful homes available in our area, it is our job to make sure that each home is represented in the best light possible, working as a team to provide excellent service to our client’s results in a positive experience for both buyers and sellers, so take another look around and get Ready Set Market.

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.

Appraisal Reconsideration Requests – How To?

By C. J. Coury

In accordance with the new Home Valuation Code of Conduct (HVCC) lenders are no longer allowed to select the appraiser or question them on their evaluations. While this will certainly all but eliminate fraud in the evaluation process it has caused some new concerns for lenders and Real Estate professionals.

Any time change occurs in our lives there is a certain learning curve that takes an unspecified amount of time to run its course. The HVCC is one of those changes that we must learn to navigate around while the industry deals with its ramifications and appeals for some sorely needed adjustments to be made to it. My hope is that after reading this column you will have a better understanding of how to assist the lender in presenting a reconsideration request that has a chance of resulting in a positive change to the appraised value.

Some common missteps that I have seen when requesting a reconsideration of value are:

1. Providing different comparables and stating that the appraiser should have used these rather than the ones they chose. Unless you are providing comps that were for some reason not available to the appraiser this will not work. The appraisal management company will not make the assumption that you know more about evaluating property and selecting comps than a 3rd party licensed appraiser, be it right or wrong, and they will reject your request.

2. Complain about the use of distressed sales and ask that these comps not be used in lieu of non-distressed sales. In a normal market you would be absolutely correct. However, when more than 50% of the competition is selling as distressed they can not ignore these comps. This request will be rejected.

3. Requesting another appraiser as the one who completed the work is not familiar with the special idiosyncrasies of the market. While this in itself may be a valid argument, there is a right way and a wrong way to go about making your point. Requesting another appraisal will rarely solve the problem. Even if another one is requested by the lender it is highly unlikely that the appraisal management company will chose one more to your liking than the first one.

The correct way to approach the situation is to take a thorough look at the adjustments made to the comparables that were used. This is the best opportunity to discover misinformation or simply a missing adjustment due to the appraiser’s lack of detailed knowledge about the subject market or the condition of a particular comp. Below is an example of what does work.

A few years ago I was attempting to refinance a house on the Grand Canal in Holmes Beach. Unless you were intimately familiar with Anna Maria Island you would not realize that this is not a normal canal. In addition, the property was located near the Bimini Bay end of the canal as opposed to the closed end.

When the appraiser completed his work he used all canal front homes that appeared to be excellent comps. However, all 3 were located on other island canals and 1 was at the closed end of its canal. The use of these comps was not a problem in and of itself but the appraiser failed to realize the vast difference in desirability between these locations and the indisputable effect on the sale price. 

I wrote a 2 page letter with photos and back-up documentation showing average sale prices on both ends of the islands canals as well as comparisons of the standard canal home to those on the Grand Canal. This information was provided to me by a local REALTOR® who is extremely familiar with these Island properties. According to his research there should have been a $75,000 adjustment on one of the comps and $50,000 on the other two. I submitted this information to the lender, who sent it on to the appraiser, and the evaluation was increased.

I realize that I should not have had to do this but the bottom line is that the transaction closed and I got the value that I needed to accomplish my goals. Take this approach when requesting a reconsideration of value and you will find that most of your requests will result in a positive adjustment that just might save the deal!

C. J. Coury is a Senior Vice President with Bank of America and oversees their residential mortgage division serving Sarasota, Manatee and Charlotte Counties. Prior to joining Bank of America in 1995, C. J. was President of Mortgage Brokers of America in Birmingham, MI for 7 years. He has been an active mortgage finance professional since 1983. C. J. may be reached at (941) 952-2888 or by email at charles.j.coury@bankofamerica.com.

A Guide to Financial Fitness

By Rhonda Coblentz

Part one of a four-part series on your financial fitness.

Imagine if you were as healthy and fit as…well, say, that guy you saw in the gym. You know, the one with the six-pack abs and the tan. Or that woman running on the beach. Sure, she was probably over 50, but she had the body of a woman half her age. Healthy, strong…she probably sleeps great at night.

What’s her secret? How did he get started? More importantly, where do I begin in my own journey to fitness?

A few quick answers come to mind (and remember, there are never quick solutions):

1) Start with a complete medical check-up;
2) Ask an expert—a trainer or coach—and come up with a fitness plan; and
3) Take the first step. Overcome apathy. Before I started training for my first marathon, I couldn’t seem to get in shape. Any runner will tell you that the first step is always the hardest. It’s a journey, and the only reasonable thing to do is begin where you are. Who knows? You, too, might run a marathon someday but today just put on the shoes and walk out the door.

As long as your imagination is working, let’s imagine something new. What if your finances were as healthy and fit as…well, say, enough to relax about the future. To have the confidence that you’ve planned well and covered contingencies.

Budget. Check. Savings. Check. Retirement. Check. Life and disability income insurance, a will…and dare we mention…a lasting legacy. Check, check, check, and check. Ahhhh.

If you’ve weathered the recent economic storms, that bit of imagination might be a stretch. But with calculated planning and the help of a professional, you can easily take the first steps toward financial fitness.

Step 1: The check-up. What shape are you in?
A complete physical means reviewing your health history, running tests, and letting the doctor take a closer look. As a financial representative with the Principal Financial Group® and a solid background as a Realtor® and mortgage broker, I approach each client with the same perspective. I take a holistic approach in developing a strong strategy. Planning your life is not a one-size-fits-all solution. Many people are financially ill today, so I examine all the pieces and work on a proper analysis and financial fitness strategy.

This process isn’t only about the numbers, although the numbers are important. I ask my clients the deeper questions. What makes you come alive? What is your biggest financial fear? What might help you to get out of a rut?  I get to know you and your values before we come up with a strategy.

Step 2: The strategy. Here’s where coaching becomes important.
Once I understand your personal values and assess the numbers, then we define your financial fitness strategy. We’ll evaluate your goals and fine-tune to help you reach those goals. We’ll look at ways to save and smarter ways to invest. But coaching along the way is critical.

Economic news headlines can be sensational, but working with a professional can help you keep your sanity. Markets rise and fall even in the best of times. Staying in touch with my clients helps them manage emotions through market flux. I help them stay on track, just like my running coach helped me prepare for the marathon.

Step 3: The first step towards financial security.
Insanity is repeating the same things yet expecting different results. “Where do I begin?” is the question nearly everyone faces when starting a fitness plan. It’s time to do something new. It’s time to take the first step toward financial health. Why not align yourself with a professional who can train, encourage, strategize, and coach you toward financial fitness and success? Just imagine…financial fitness. Now that’s something everyone can live with.

What are you waiting for? Call me for coffee, and we’ll take the first step together. Let’s run strong.

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

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

Why Does The Buyer Need A Survey?

By Steven R. Greenberg

Surveys are involved in almost every real estate transaction, except for transactions involving the sale of a condominium. The Contract for sale of real estate will give the Buyer a limited period of time to both obtain the survey and to put the Seller on written notice of any survey defects. A survey map depicts the shape and size of the lot and all improvements located on the lot. It should also show all setbacks, easements, and other matters observed by the surveyor. Of course, the survey map will include a legal description of the property surveyed and should be certified to the buyer, the title underwriter, the closing agent, and the buyer’s lender, if any. Finally, the survey map should include the surveyor’s signature and seal, which is a representation by the surveyor that the survey map is in compliance with the Minimum Technical Standards for Florida.

The title insurance policy includes “Survey Coverage.”  Survey coverage is provided by deleting or modifying the standard survey exceptions in the title policy. The standard survey exceptions in the title policy are as follows:

1. Rights or claims of parties in possession not shown by the public records.

2. Encroachments, overlaps, boundary disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises.

3. Easements or claims of easements not shown by the public records.

In order for the closing agent to delete the standard exceptions, there must be a careful review of the survey map. The closing agent should raise specific exceptions to individual survey defects and all parties to the transaction should be put on written notice of such defects within the time frame authorized in the Contract. It is imperative that the closing agent (attorney or title company) provide to the surveyor a copy of the title commitment so that the surveyor will be aware of such matters as easements and deed restriction setbacks. It is not the job of the surveyor to search the public records to determine matters of public record affecting title to the subject property other than those matters appearing on the plat of the subdivision.

Prior survey maps can be utilized for the current real estate transaction in certain circumstances. In order for the closing agent to rely on the prior survey map for purposes of deleting the standard exceptions (thereby saving the buyer the cost of a new survey), the seller must provide an Affidavit to the closing agent confirming that:

1. They are the owners of the property.

2. They have reviewed a copy of the survey map of the property.

3. Since the date of the survey map, there have been no additional improvements constructed on the property and there have been no modifications or additions to the improvements shown on the survey map.

4. Since the date of the survey map, there have been no improvements or fences erected on any adjacent property.

It is important that the REALTOR® find out at the onset as to whether there is an existing survey map meeting the above requirements and if so, deliver a copy of it to the closing agent. There are limitations on the use of prior survey maps including those meeting the above requirements, i.e. the survey map is too old, the buyer’s lenders require a new survey, etc.

The Buyer needs a survey map of the property being purchased in order to be protected. The Buyer’s REALTOR® should always encourage the Buyer to make sure that one is being obtained (a new survey or a prior survey map that can be utilized for the transaction). The closing agent should be carefully skilled at reviewing the survey map. The closing process is a team effort and only skilled professionals should be employed for the best results.

Steven R. Greenberg has practiced Real Estate law in Sarasota since 1986 and is a shareholder in the law firm of Icard, Merrill, Cullis, Timm, Furen & Ginsburg, P.A. He is board certified by the Florida Bar in real property law and frequently lectures on matters involving real estate transactions. Steven may be reached at (941) 365-6216 or by calling Linda Witt, Director of Marketing, directly at (941) 586-4412 or by email at MzWitt@aol.com.

Rhonda Coblentz

Principal Financial Group

The will to win is important, but the will to prepare is vital.
~Joe Paterno

By Lalaena Gonzalez-Figueroa

Photography By Chad Spencer

When it comes to planning for a sound financial future, Rhonda Coblentz, Financial Representative with the Principal Financial Group®, (The Principal®) understands that the race is won one leg at a time. Read More

REAL Magazine August 2009

Featuring: 3731 Indian Beach Place; Bay Front Casa Elegante, Mirta Matheu Klauber; REALTOR, Giovanni Lunardi; Renowned Photographer, Clifford Scholz; CMSA Architecture, Rhonda Coblentz; Principal Financial Group, All Faiths Food Bank.

Read More

Interview With Giovanni Lunardi

Renowned International Photographer

By Ed Bertha

Born and raised in Parma, Italy Giovanni Lunardi now calls Sarasota, Florida his home. Traveling the globe Lunardi let his lens and artistic talents define his career. Shooting upcoming and accomplished models for the world’s top magazines he has defined a career like no other. Read More

August 2009 Exceptional Properties

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

Exceptional Properties Cover Feature:

Peter Laughlin, Signature Sotheby’s International Realty, 941.356.8428

Solymar, 3910 3916 Solymar Drive, Siesta Key, Sarasota, MLS #A374133 #A374139

Sarasota, Florida’s  Solymar on Siesta Key, private and secluded,  sits on the Gulf of Mexico. Siesta Key, long known for having the world’s whitest powdery sand is a location like no other. Solymar’s two exquisite waterfront estate homes for sale utilize the finest craftsmanship and materials. If you are interested in building on the beach there are two remaining lots to build on. Read More

Site Characteristics For Southwest Florida Coastal Properties

By Clifford Scholz

CMSA has been designing residential and commercial properties on the coastal regions of Florida for the last 17 years. I personally, with partnerships prior to the formation of CMSA, have been designing coastal properties for approximately 30 years. I am fortunate to be involved in the development of these properties, as they are some of the most beautiful in the world.

Coastal properties are also accompanied by ramifications with regard to guidelines from the federal, state, and local jurisdiction levels. These need to be followed very carefully and as a designer, experience is needed in knowing how to provide a beautiful and natural setting that is both environmentally sensitive and sustainable. The typical coastal properties that we see in southwest Florida range from a ground elevation of approximately 5.0’ to an elevation of 12’or 13’. Coastal properties come along with the given possibility of storm events, and this brings in the federal, state, and local flood criteria to regulate the construction and improvements on these properties.

The entity on the federal level is FEMA, which is the Federal Emergency Management Agency for flooding. At the state level, we have the FDEP – the Florida Department of Environmental Protection for beach and dune protection. The local regulations are administered by the county or city areas for possibly even stricter requirements than at the federal or state level. A good example of this would be the Sarasota County Gulf Beach Setback Line (GBSL) which was adopted by Sarasota County in order to further review construction seaward or within that line.

The FEMA criteria are broken into V-zones, A-zones or X-zones.  The V-zone is for coastal properties that are subject to a wave crest occurrence in a 100 year storm event. These properties will be required to be constructed on a piling supported foundation. The A-zone includes coastal properties subject to flooding due to tidal rise in a 100 year storm event. The X-zone is usually for non-coastal properties with limited, if any flood elevations for finished floors, although it should be noted that area drainage master plans should be reviewed as sometimes storm events can affect drainage canals and inland waterways. 

The FDEP criteria are shore parallel width of the structure versus the property width, first level floor minimum elevations, piling cap elevations, as well as piling depth elevations. All of these are considered for potential scouring action during a storm event and tidal reaction from the subject property to adjacent properties. The preservation of beach dune natural systems is the main goal in this application.

The county criteria are enforcement of the above criteria and possible further design protection requirements due to particular attributes of a site.

There is a plethora of criteria to be addressed while bringing the finished project to an established presence in balance with the natural environment and safeguarding the public and property improvements. This is where an experienced architect is mandatory. If done correctly, the result is a beautiful, natural, and timeless setting benefiting both the environment and the inhabitants of the property.

Other aspects of the geography of a coastal site are the existing soils, environment and vegetation to protect, and in some cases, natural rock formations below grade. Existing soils on a coastal property can be located in an A-zone, which typically does not require pilings but may still have the need for a piling supported foundation, due to the organic soils which are incapable of supporting the structure above. On our coast, and many coasts in the state of Florida, this is due to organic material that was filled upon by dredged soil material generated from the bottom of a canal or waterway. This practice was prevalent in the early 20th century but is rarely found in current times.

The above considerations for site characteristics for southwest Florida properties is only the beginning of the process to approach a site, review it for its potential and the regulations that exist, and then move onto the design program in order to transform the property into a sustainable and beautiful finished product.

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.

Go Global

Panama – Is it For You?

By Pat Tan

We often hear stories about attractively priced properties in Central America. Regular readers may remember my articles on Costa Rica, Belize and Mexico. Well now it’s the turn of Panama to come under the magnifying glass.

Panama lies between Colombia and Costa Rica in Central America, forming a natural isthmian bridge between the Caribbean Sea to the north and the Pacific Ocean to the south. Settled by the Spanish in 1500s, and separated from Spain in 1821, Panama became a department of Columbia. With the support of the United States, Panama proclaimed its independence in 1903 and granted the U.S. rights to a “zone” in which the U.S. would build a canal. The world famous Panama Canal was completed in 1914 and it was managed and administered by the U.S. until December 31 1999 when its control was given back to the Panamanian government.

Today, Panama is one of the most politically stable countries in the region. Its economy is based on the U.S. Dollar, and is primarily service-based. 75% of GDP comes from operation of the Panama Canal, banking, an extensive free trade zone in Colon, insurance, container ports, flagship registry, tourism and real estate development. The country has recently embarked upon a major project to widen the Panama Canal, and this has sparked investor interest as well as giving the local economy a further boost.

Panama is very accessible, with direct flights from Europe, Canada and the United States, and it has quickly established itself as a popular tourist and retirement destination. It is regularly featured in international retirement living magazines and indices as one of the most attractive retirement destinations, offering a modern infrastructure, relatively low cost of living, safety and stability, high standards of health care, varied climate (without hurricanes or earthquakes!), attractive real estate prices, many cultural and entertainment options, and all of this underpinned by a government developed and sponsored retiree benefit package. For example, foreign residents and retirees can have overseas-sourced money remitted tax-free to Panama. There are also tax incentives to encourage international investment in Panamanian real estate.

Real estate choices are many and varied.

Visitors, retires and investors can choose from cool mountainous areas or beautiful and fascinating nature in the rain forest. Beach lovers may prefer the calm turquoise waters of the Caribbean or the dramatic waves of the Pacific within just an hour’s drive of each other. Those wishing to completely get away from everything and everyone might consider purchasing a private island.

Panama City is a popular investment option for overseas investors with options to purchase residential, commercial or historical properties. Modern high rise developments are prevalent due to the high land value in the City itself.

Raw land and small development opportunities also exist, but investors should beware of properties that are far away from major towns and resorts, and lack nearby infrastructure.

In short, Panama offers potential for real estate investment, and is a mix of U.S. and Latin American cultures, where you can enjoy a fun, laid-back lifestyle with all the modern creature comforts you might associate with the U.S.A. and Europe.
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.

Ready Set Market – Part I

By Tracy Eisnaugle

Over time as we live in our homes we tend to accumulate clutter, adding the latest trends, attaining things we just have to have or gifts we didn’t necessarily ask for. Somehow we find the space and incorporate more and more into our homes. One of my professional duties is to provide design consultation services to real estate agents. Some people use the term staging, but I do not offer furniture or design services to my agents’ clients, eliminating any sales pressure for the homeowner. My goal is to assist the agent by guiding the seller through their home providing an outside professional opinion of what needs to be completed to achieve mass market appeal, relieving the agent from the dreadful task of giving constructive criticism to their clients whom they will be maintaining a long term relationship with.

Each agent has their own preference for market style and after a brief discussion of each other’s range we find a happy medium that works in the best interest of our clients and for the marketing of the home. The general rule is to de-personalize and de-clutter, but in today’s market each property has its own specific needs and financial limitations.

Here is a list of pointers to assist those of you who are selling your current home or working with clients to sell theirs.

 Curb appeal, maintain a fresh layer of mulch and make sure that the yard stays manicured including picking up any dropped fruit etc. Keep all the palm trees trimmed and clean, we might take them for granted but people move here for those tropical trees. Although it is hot, especially this time of year, keep up with fresh annuals they add a pop of color for photography and a warm welcome.

 Nothing is worse than a house with an odor. Odors continue to live in fabrics and soft fibers, therefore we need to locate the source and eliminate it. Please do not use plug in or automatic spraying air fresheners, many people are sensitive to the artificial fragrance and they also create the false impression that you are trying to cover up an odor even if you are not.

 If a property has been vacated we might find an abundance of nails and picture hangers. Remove all nails, repair the texture on the walls and touch up the paint.

 If you have a house of many colors aka a “Skittle House” there are two options; if the home is vacant and the budget allows then paint the entire interior a soft neutral wall tone and a simple white for the trim/molding. The ceilings can either be painted the wall color or a flat version of the trim/molding color. If the home is not vacant then we need to understand that the current owners are still living in their home and the best solution is to get two or three bids for paint the home a neutral color throughout and use those quotes to assist in the negotiation process.

 Clean, clean, clean nothing is worse than a dirty house.

Stay tuned for the continuation of Ready Set Market – Part II with additional tips and techniques in next month’s edition.

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.