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4015 Hawk Island Drive

By Tracy Eisnaugle

Compelling Mediterranean Estate, experience exceptional design and waterfront living with this spectacular Hawk Island residence. Located behind the prestigious gates of Hawk Island a private community situated on the Manatee River, a unique peninsula featuring a private canal with individual boat docks for each residence.

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March 2009 Exceptional Properties

Fine Homes and Luxury Estates Over $1,000,000.

 
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Authenticity

By Judy Green

Through my years in the real estate industry, I have remained true to myself, my team and clients by being authentic.

The words authentic, genuine, real, and veritable indicate a lack of falsehood or misrepresentation. The definition of the adjective authentic is: “conforming to fact and therefore worthy of trust, reliance, or belief: an authentic account by an eyewitness.”

Our firm is the exclusive Sotheby’s International Realty affiliate for Sarasota, Manatee and Charlotte Counties with unrivaled access to qualified people and distinctive properties around the world.
The mission and culture of Signature Sotheby’s International Realty is based on three principles, which guide our business. Authenticity is one of them. Sotheby’s International Realty is an authentic luxury real estate company and our commitment to the brand enables us to deliver the highest level of service for our clients, the Connoisseurs of Life. We have developed innovative marketing tools that effectively showcase our exceptional properties both locally and internationally to the most discriminating buyers. Not only is our team’s real estate experience unparalleled, but the clients experience with us is truly unique. As a Sotheby’s International Realty affiliate, we are committed to setting the ultimate standard of excellence within the luxury real estate market.

Signature Sotheby’s International Realty opened in November with 37 agents and a renewed determination to sell luxury homes in a struggling market. Just a month after becoming the newest franchise of Sotheby’s International Realty Affiliates, Signature Sotheby’s International Realty created a second location with its acquisition of Premier Properties. Premier brought 34 agents to Sotheby’s and more than 175 listings in the Sarasota, Manatee and Charlotte county markets. Yet another month later, we acquired Richard Bradway & Associates, expanding our reach south of Sarasota into Venice. We are now a team of more than 90.

With a new office headquartered in the heart of downtown Sarasota at the prestigious Plaza at Five Points, we’re servicing our clients in these trying times with the utmost service and attention to detail. Every member of the team embodies authenticity in all that we do. I am ever grateful for my successes to date and look forward to the many future successes here in Sarasota.

Signature Sotheby’s International Realty was formed in November 2008 under the dynamic leadership of Judy Green, Broker/Owner. Over her distinguished 30-year career, Judy has worked closely with the largest real estate companies in the nation.

During her tenure at Coldwell Banker, she was responsible for the firm’s operations both in Florida and Texas and orchestrated the acquisition of 28 companies, including Arvida Residential Real Estate Inc., one of the largest acquisitions in U.S. real estate history.  Through her leadership, Green helped Coldwell Banker become the largest and most successful real estate company in Florida, with nearly 200 offices and 7,500 sales associates.

Whether owning her own brokerage business or leading the business operations for national real estate firms in multiple states, Green has built an enviable record of achievement that draws on her wide-ranging professional and personal experience.

Design Lines: Sarasota Casual

By Pamela Hughes

One of the things so many of us love most about Sarasota is that it is casual, but also elegant. We dress casually but elegantly, achieving this look with sometimes just one small detail: a stunning necklace with white jeans, or perhaps a silk handkerchief in a sport coat pocket worn with blue jeans.  We have so many elegant places to go: fabulous restaurants, The Van Wezel, The Asolo, festive social events and a myriad of other cultural and social venues. Being casual but elegant is a great way to be comfortable but still look and feel appropriately and beautifully dressed.

The same concept applies to interior design. In Sarasota, particularly, we love the outdoors: the water, the sun, the beach and our gardens. A successful interior here is one that celebrates all of these glorious exterior elements in a casual but elegant manner.

Sarasota designs are looser and lighter than up north. We use less furniture and lighter fabrics. The floor plans tend to be more open, rooms flow from one to another, and especially to the outdoors. Elegance remains, but there is a transparency to the open air. Light is allowed to be a part of the overall design, and windows are either left uncovered or softly draped, sometimes hiding a required solar shade for functionality. Mirrors are effective in that they reflect the outdoor spaces, increasing that sense of oneness with the natural world.

Another design element that is used frequently in Sarasota and similar climates is the outdoor “living room” or loggia. These rooms are furnished as comfortably and as beautifully as any interior room, and often can be closed off from the elements or when the owners are out of town.

Outside rooms are the utmost in luxury–gorgeous furnishings to be enjoyed in gorgeous weather. You can create these outdoor living spaces on balconies with oversize and comfortable chaise lounges, and on terraces with smaller seating and tables. In fact, there are so many new and stylish outdoor furniture designs available today that these outdoor spaces truly can look and feel as luxurious as any interior space.
The casual look is also achieved with not only less furniture, but lighter colored furniture, often with a painted finish. Use darker pieces for accents to keep the room light and airy. Go easy on the accessories. Let the furniture and art carry the room. A few large pieces are much more dramatic and effective then a collection of small items. And easier to take care of also! Remember, less is usually more, and this holds true when creating a casual yet elegant interior.

In a previous column we wrote of our exquisite Sarasota waters, skies and sunsets. We spoke of capturing the sparkling azure blue, clear aquamarine and effervescent sea greens so often seen in our celebrated environment. Color is so important that it is worth mentioning these tones again. Pair them with some soft neutrals and sand tones and you have an easy, but striking color palette.

And speaking of water, tie that wonderful element into your design scheme by using fountains, pools and ponds, large or small, to create that other sense of casual elegance.

Gardens are often an integral part of a Sarasota home. Lush foliage adds freshness and can create an extension of the house that is used all year long. Courtyards and intimate garden areas allow us to enjoy the outdoors in an elegant way. Because of this relationship, patterns and textures from nature, captured in fabrics, add to this special casual, yet elegant feeling.

Casual but elegant natural materials, which also bring the outdoors in, are special wood species for ceilings such as clear cypress, pecky cypress, and douglas fir. Flooring can be rustic but elegant using any number of porcelain tiles or terra cotta.

Mix all of these elements together, remember that what is most beautiful is our natural environment, and you have a casual but elegant Sarasota style home.

Pamela Hughes, the founder and owner of Hughes Design Associates, is well known nationally and internationally. Hughes Design Associates is one of the premier interior design firms known throughout North America for specializing in prestigious custom interiors. In Sarasota, Pamela has completed many exceptional projects including The Ritz-Carlton, The Members’ Beach Club, The Tower Residences, and Plaza at Five Points. Her portfolio also includes some of the most luxurious and distinctive residences in Sarasota. Pamela’s work has been published in the best interior design magazines such as Architectural Digest and Veranda, as well as numerous other publications. Also, Home and Garden Television (HGTV) featured her in the program, “Public Places, Private Spaces”, showcasing her work on the Four Seasons Hotel, Philadelphia, and a luxurious private home in Chicago. In addition to their work in Sarasota, Pamela and her firm design projects throughout the US, Canada, the Bahamas and the Caribbean.  Pamela may be reached at 941.922.4767 or visit www.hughesdes.com.

Go Global ….  Seek Adventure in Belize

By Patricia Tan

Said to be one of Mother Nature’s best kept secrets, Belize is also known as an adventurer’s paradise.

Nestled between Mexico, Guatemala and the Caribbean Sea, and formerly known as British Honduras, Belize became independent of Great Britain in 1981. The country operates as a parliamentary democracy, and is a member of the British Commonwealth, the United Nations, the Organization of American States and the Association of Caribbean States.

Belize is often called the ‘land of many faces’ because of the wide variety of ethnic groups scattered throughout the country, who have blended harmoniously to form a people well known for their friendliness, especially towards visitors. Belize is unique as the only country in Central or South America to have English as their official language and this is certainly a bonus for many American visitors.

Many tourists will first discover Belize when they take a cruise through the Caribbean and stop at Belize City. The wise visitor, however, will linger in this interesting and welcoming country a little longer than cruise ships allow, and take time to discover Belize’s treasures outside Belize City.

Belize boasts many natural attractions. 185 miles of meandering barrier reef make Belize THE destination for divers. Visibility often exceeds 100 feet, and water temperature remains around 80 degrees Fahrenheit for most of the year. The reef has been named a World Heritage Site by UNESCO.  But the opportunity to meet with nature does not end at the barrier reef. Belize is also home to lush tropical rainforest that supports many species of birds and exotic flora and fauna. Having enjoyed the natural beauty and wildlife, visitors may continue their adventure and discover Belize’s rich Maya heritage through the many archaeological sites around the country.

Tourism in Belize has continued to grow in recent years with short (less than three hours), direct flights from several major U.S. gateway cities including Atlanta, Charlotte, Dallas, Houston, Miami and Newark. The Caribbean Island atmosphere engulfing southern Belize has made this region increasingly popular with tourists. From the Maya mountains, across miles of beautiful rainforest, to a broad coastal plain, this region has so much more to offer than clear blue waters and white sand beaches.

For investors, Belize offers a stable, early stage investment environment for real estate ownership and development. Its currency is pegged to the U.S. Dollar, with one US dollar equal to two Belize dollars. Home prices are attractive, and the familiar English language and customs give Belize an appeal beyond that of many of its Latin neighbors. An attractive combination of the opportunity for capital appreciation in a low risk environment. The United States is Belize’s number one trading partner and a major source of investment funds. Belize is also growing in popularity as a retirement destination for American and Canadian citizens in particular.

There are no restrictions on foreigners owning land in Belize. Currently there are no capital gains taxes or inheritance taxes, and rental income is taxed at the very low rate of 1.75%. There is, however, a 10% duty payable at the time of property purchase, but this is not unlike many other Caribbean countries. The property market in Belize operates a little more transparently than some other Central American countries. However, Investors would be well served to work with a team of local experts including an experienced real estate attorney and to spend time doing full due diligence on any real estate purchase.

The International Division of Prudential Palms Realty in Sarasota plans a series of educational seminars and introducing investment opportunities in Belize. Call Patricia Tan at 941-504-9232 for more information.

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.

Real Estate Investing

By Jeff Riddell

Jumping into real estate investing without a plan can be painful. Biting off more than you can chew is one problem; panic instead of patience is another problem. There will be bumps in the road in any real estate investing career, but if you stay the course you will be rewarded. But don’t forget to do your homework before you buy or sell—goals should be lofty, yet realistic.

As Marvin Naiman said:

Average people, people able to raise five to ten thousand dollars, have it within their power to become millionaires.

If you are young and starting your real estate investing career, my suggestion is to open a separate bank account only for your real estate business—I call it your real estate piggy bank. Start funding it with as much money as you can each month for a year or so, and during this time, go out and study the market. Learn all that you can before you make your first purchase, and then when you have enough money to make a down payment on your first investment—it will probably be a rental house but use your imagination—get it under contract, shop for the best mortgage you can find and buy it. Deposit the rents and pay expenses only out of your real estate piggy bank and when you sell the property put the proceeds back in.

If you spend part of the rents or sale proceeds on other things, you will never achieve the wealth accumulation results of leverage and compounding. Of course you should constantly—month after month and year after year—transfer at least some of your other income into your real estate piggy bank.

Nowhere is patience more of a virtue than in real estate investing. Except for flips, it’s never fast money; usually real estate is a long term investment. For most investors, it will take ten to fifteen years to start seeing significant results, but you will have a substantial portfolio by then if you buy something every year. As mortgages amortize, your equity should grow nicely. As rents rise, cash flow should materialize or increase. Seeing your real estate piggy bank grow is very satisfying indeed. Appreciation, amortization and rent increases are your friends, but it doesn’t happen overnight.

You don’t have to be a genius; don’t be intimidated.

As Owen Feltham said:

The greatest results in life are usually attained by simple means and the exercise of ordinary qualities.

Dream but don’t daydream. Try to put aside ten percent of your income for real estate investment, then put it to work. Be steadfast but don’t be afraid to make the investment. Even if you pay a little too much the first time, real estate can be very forgiving over time. You will learn from your mistakes—and your real estate investing Savvy will grow with experience. As the old Chinese proverb says “a journey of a thousand miles begins with a single step.” Go ahead, suffer a little; give up immediate gratification for awhile to put together a down payment on some kind of investment real estate—it gets easier once you get your toe in the water.

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

Max, My Southeastern Guide Dog

By Chris McNamee

March 28th is Max’s “gotcha” day. It was two years ago on that day that I received Max, my yellow lab from Southeastern Guide Dogs. I have a degenerative retinal disease, Retinitis Pigmentosa, which has reduced my field of vision to just a sliver, and destroyed all my night vision.

Imagine traveling 1,000 miles from home for a month stay in a hotel with housekeeping, a chauffeur and a chef……..and 8 people you have never met. Then imagine doing it all with your eyes closed! Thankfully, the school’s program is designed to provide a home like environment in which to meet, train and bond with my new guide. The staff took care of all my needs starting with picking me up at the airport.  I was in a class of 8 students, several who were returning for a second dog. Some had limited vision, most were completely blind. Certified Trainers Mike and Karen were our teachers; they had been training the dogs in our class for the previous six months.

I will never forgot the way Max bounced into my dorm room, jumped into my lap, kissed me, and then ran around the room before coming back into my lap, and my life. For the balance of the 25 days on campus, Max was at my side whether we were training or relaxing. My first steps walking with Max in his harness occurred on the walking trails of the campus. The trails are purposely peppered with typical obstacles; curbs, gates, street lights, even rail road tracks. There were items for Max to find; mailboxes, benches, bus stops and cross walk buttons. As the program progressed, training moved on to a downtown training facility to add automotive traffic, as well as everyday obstacles like garbage cans, other people and other dogs along the sidewalk.

Training intensified as the class progressed, as we visited malls, grocery stores, airports and my favorite, the beach! With each passing day my confidence grew with Max at my side. Together we safely navigated the busy pedestrian traffic of downtown Tampa, crossing 8 lanes of traffic, weaving in and out of the busy sidewalks, effectively dodging stationary objects as well as the moving crowds.

Our last training exercise was performed at ten o’clock at night on campus. The course was about a mile square walk path with many obstacles to safely navigate around. The trainers of course were with me every step of the way. Max walks at a fairly brisk pace, which is magnified greatly when you can not see, let me tell you! Off we flew into the darkness, Max leading the way confidently with me holding on and following his every step. We first encountered a closed gate, which Max stopped and let me identify and open. The next stop was a raised section of sidewalk, a typical trip hazard.  Max stopped and let me identify it, and off we went. We continued to move around the course, breezing past all sorts of unseen obstacles. When we finished, I remember saying that the walk was both terrifying and exhilarating! Max and I were now a team, and I trusted him completely.

That was two years ago and our bond has only strengthened. Max has restored my mobility and confidence to independently navigate busy pedestrian areas with out fear of getting hurt or lost. I am deeply indebted to Southeastern Guide Dogs for the work that they do. Thank you and God bless their dedicated staff and volunteers.

Chris McNamee has the degenerative rentinal disease retinitis pigmentosa. RP is characterized by the progressive loss of photoreceptor cells, rods and cones, which provide night and peripheral vision. RP is an inherited disease; his father has RP as well as a younger sister. Chris was diagnosed with the disease at age 28, and his vision deteriorated to the point that he was forced to stop driving six years later in 1993. He currently has a very small central field of vision, and no night vision. He travels with the aid of his guide dog, Max.

Model Home Secrets

By Tracy Eisnaugle

Now that all of the local home tours and parades have ended you may find yourself slightly envious and wondering how you can make your own home look and feel like the fabulously decorated models you have just visited.  Having merchandized a few models in my time, I feel it is necessary to reveal some of the show home secrets that builders and designers have been using for years.

The main reason that model homes look so warm and wonderful is simple, no one lives in them; there is no laundry piling up, food being cooked or pets running rampant. So, before you move yourself out or send the pets packing I will share with you a little insight. A good comparison would be a typical woman versus a runway model, we ordinary women are not meant to wear couture size zero clothing every day nor do we have a full team of makeup artist and hair stylist on hand. In the same light our homes are not showcases set to sell a lifestyle, community or an array of finishes.

There are a few tricks that make model homes appear brilliant and desirable. The first is lighting, show homes are opened every morning by a fastidious sales team, their first job is to turn on each and every light, and they have the electrical bill to show for it. In our daily life, actively living within our own homes we only leave the lights on in rooms that we are currently using. There is a big difference in the look and feel of a home when it’s fully illuminated. Also, model homes are designed with additional lighting throughout to brighten every nook and cranny.

Privacy window treatments are another difference, show homes generally have beautiful soft treatments (drapes, valences, and cornices), but rarely have nor do they need privacy treatments (blinds, shades, and shutters.) Since we sleep, shower and do other various activities in our own homes we more than likely have coverings on all the windows. Adding privacy treatments reduces the amount of natural light, interrupts the views and also adds another element to each space, resulting in a little visual clutter.

When a builder plans a model home the entire budget from soup to nuts is the builder’s responsibility so there are some tricks to cutting costs. Decorative floor tile details are less expensive than purchasing floor rugs; they are also easier to maintain in the high traffic areas. Tile and coral cast stone details are used in wall niches or on vertical surfaces, which cost less than purchasing artwork. A model home does not have a huge budget for artwork and the art has to be very impartial for mass market appeal, this can be difficult to find in the perfect size and framing.

Every surface wall, ceiling and floor are enhanced by cleverly designed details; headboards in all the suites, decorative niches, and ceiling treatments, you name it and it is covered with faux finish, applied moldings or accent paint. The truth is they want you to buy these features, builders sell drywall, molding, paint and tile but they generally don’t sell headboards, rugs or artwork. Don’t get me wrong I think that the design elements are really attractive and are great added features, but I was a child and now an adult who likes the flexibility of moving my furniture around or changing color schemes, so it works for the show home but not for my home.

So before you attempt to makeover your home to show like a model, please know that your home is your sanctuary not your showcase, so live in it. Enjoy the models for what they are, steal decorating tips and color schemes, buy one they are perfect for an all-inclusive fresh start. I guarantee after the model homes are purchased and the homeowners move in they look more like your home and mine.

If you have any questions or would like further information please feel free to send me an e-mail at tleisnaugle@msn.com.

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.

Raising a Guide Dog Puppy

By Roger Pettingell

My wife Alisa and I have raised four guide dog puppies over the years…Wafer, Dagmar, Nessie and Mac (we didn’t name them, generous donors did). We decided to work with the guide dogs as a way to help those with sight challenges in our community. Little did we know how much we would get from the program, and how we would continue to support Southeastern Guide Dogs even to this day.

Our first puppy was Wafer…the cutest little golden-colored Labrador puppy you have ever seen.  We instantly fell in love with Wafer, though not like you would with a pet. Wafer had a mission ahead of her, and we were there to help her prepare for that mission. Then came Nessie, then Dagmar. Last, but not least was Mac; he’s the one I want to tell you about. I probably shouldn’t admit to having a favorite, but Mac was clearly ours.

Mac was a little white bundle of fluff when we first got him. He fell asleep in the car on the way home from the school (where he was born from guide dog parents). Our job with Mac was to socialize him, and to get him used to being in every circumstance imaginable. On Mac’s first night we put on his little “guide dog in training” kerchief (he was to small for the jacket he would later wear) and took him to 15th Street South, the Italian restaurant on St. Armand’s Circle; he adored the crowd then fell asleep!

Mac spent his days with me at my real estate office, on property showings, at open houses and closings. When we went out to dinner, he was taught to remain quietly under the table. When we travelled, he sat at our feet in the plane. With his training jacket he was welcomed into virtually every restaurant and public place he entered. Every Saturday we attended training classes with other host families in our area. We learned how to teach Mac basic obedience commands, and we shared our week’s experiences with the group. 

As Mac grew into a more mature dog, it was clear that he would become a star pupil. He was so perfect in his design that he was considered for the Southeastern Guide Dog breeding program. The day he was called to go back to school for his guide dog training was a sad one for us, as we knew we wouldn’t be sharing our daily activities with him anymore. We felt proud, however, knowing that we had done our job in preparing Mac for his future as a guide dog.

Several months later we were invited back to the school to meet Mac’s new roommate, Michael, who had lost his vision in a random car accident. This was the moment when it all came together for us. We were able to see the bond between Mac and Michael and to see the independence which Mac afforded Michael. We left with tears in our eyes and warmth in our hearts.

These days we raise children instead of puppies, and frankly, the experience we got from the latter has helped with the raising of the former! Children, like puppies, need to have defined boundaries and to understand expectations. They also need a lot of loving, which is the easy part in both cases!

Roger Pettingell currently serves as a member of the Board of Directors for Southeastern Guide Dogs in Sarasota, Florida.  He lives and works in Sarasota with his wife Alisa, sons Jake and Max, and career-changed guide dog, Wafer. Photo Left to Right, Back Alisa and Roger, Front Wafer and Mac.

Increase Your Sales With First Time Buyers

By C. J. Coury

The stimulus plan that President Obama signed on February 17th contains a provision for first time home buyers that will make a HUGE impact on their purchase decision.

Unlike its $7,500 predecessor, which was nothing more than a loan, the new income tax credit is truly what it appears to be – a credit! Under the new plan a first time buyer (defined as someone whom has not owned a home in the last 3 years) will receive a tax credit of 10% of the purchase price of the home with a cap of $8,000. To qualify for the credit the closing must take place between 1/1/09 and 12/1/09 and is a significant gain for this group of potential buyers.

On a typical first time buyer purchase this tax credit will actually exceed their out of pocket costs to close. For example, on an $180,000 purchase, using FHA financing and seller paid costs, the buyers out of pocket would equal $6,300. When they file their 2009 tax return they will receive a tax credit of $8,000 leaving them with a net gain of $1,700!

Unlike the -0- down payment loans that proliferated in recent years, this tax credit requires buyers to make the required down payment and leaves the loan amount at 96.5% of the purchase price. This is no different than what any FHA buyer would be able to receive. The major difference here is that they will be given a tax credit that they can use to purchase home furnishings, window treatments, home improvements, etc. that will help the local economy in the future and provide them with an improved lifestyle.

Get the word out to those renters who have been waiting on the sidelines for the right time to buy as that time is NOW!!

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.

Representing A Buyer Purchasing A Bank Owned/REO Property

Part Two

By Steven R. Greenberg

This article is a continuation of last month’s article regarding areas of concern in an REO Counter-Offer Addendum typically used by banks in connection with the sale of a foreclosed (“Bank Owned” or “REO”) property.

Previously, it was pointed out that REO Counter-Offer Addendums may provide that the seller is only obligated to deliver insurable title, as opposed to marketable title. Some title companies hired by the REO sellers use this provision of the Counter-Offer Addendum to reject survey objections made by the buyer. It should be noted, however, that the only authorized form of a title insurance policy in the State of Florida is a marketability title policy. Accordingly, the title company cannot just insure over the survey defect thereby requiring the buyer to accept title with the survey defect. This issue typically arises in connection with the encroachment of the residence or some other structure into a platted or deed restriction setback or into a platted or deed restriction utility and drainage easement. Also, I am aware of at least one title company used by REO lenders who is not even reviewing the survey until after the closing, which results in a title exception for the encroachment being disclosed for the first time in the owner’s title policy delivered to the buyer after the closing. Therefore, the buyer has unknowingly purchased a “survey defect” which will arise when the buyer goes to sell the property. For the reasons described above, it is imperative that the buyer have a real estate attorney carefully review the survey and the title commitment prior to the closing and insist, on behalf of the buyer, that the title company remove all survey exceptions except those that the buyer is willing to accept.

Other points of concern in a typical REO Counter-Offer Addendum are as follows:

Many Counter-Offer Addendums give the seller the right, at the seller’s sole discretion, to terminate the Contract if, among other things, the seller has transferred and conveyed the property to a third party. While I have not experienced the termination of a Contract by an REO seller for this reason, the possibility exists and buyers should be advised as to this provision.

2. The REO seller is only obligated to turn over keys in its possession (which may be none). Garage door openers and mail box keys are excluded from the sale.

3. The buyer assumes the responsibility and liability for the refund of any security deposits to any tenants at the property. It is, therefore, critical that estoppel letters be obtained from tenants at the property in order to ascertain the status of rental payments and the existence of any advance rents or security deposits claimed by the tenants.

4. The buyer is not permitted to directly or indirectly cause any inspection to be made by any government building or zoning inspector or government employee without the written consent of the Seller. This is of particular concern when trying to confirm that permits have been obtained and closed out for all improvements on the property. Also, this provision is troublesome with respect to possible non-conforming improvements on the property.

The REO Counter-Offer Addendum supersedes almost every provision of the Contract submitted by the buyer. It is important that Realtors carefully review and understand the REO Counter-Offer Addendum. Furthermore, professional Realtors will have a real estate attorney review the Counter-Offer Addendum with the buyer to explain and advise the buyer of the provisions of this document as it affects the Contract offer that the buyer presented to the seller. Although some aspects of the Counter-Offer Addendum sound pretty scary, once I have explained the provisions, provided legal counsel, and confirmed that the buyer may be obtaining a property at a very good price, the buyers have invariably signed the Counter-Offer Addendum without hesitation.

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 REinfo@icardmerrill.com.

Flounder Florentine

By Chef John Zakarian

Where does spring start?
From the song of the mocking bird? From the smell of the blossoms? From the fresh grass losing the snow blanket? Or is it from your heart beating fast? For me Spring starts with the air perfumed with lilacs, tulips, crocus’s and that first glimmer of the blossoms on the trees. Winter is gone, it’s a revival. I am from the Northeast and I love all seasons; Summer’s heat, Autumn’s sadness, Winter’s freeze, but I always wait with passion for Spring’s arrival. I feel happier, and unusually lighter. Now I live in Paradise where seasons don’t change hands and where everything is always green. Still I can breathe the air and feel the arrival of it. Oh the revival…So darling, open the windows, sliding doors, and let the spring air caress your beautiful face. Let the aroma of magnolias feel your heart. Put Barbieri’s “Europa” on, crank it up, and pour me a drink. I am coming home. Ah feverish…

Where was I? Oh, we were speaking of Spring. Up north, that means a run for snow shoe flounders. Those are bottom feeders, just like Dover sole, fluke, sundial, or halibut. Velvety textured, white, delicate meat. In the south we refer to just flounder, which is a version of the northeast fluke. Many years ago people would catch them and throw them back because of their looks; flat and eyes on top of their head, didn’t inspire the fishermen. Today one of the most delicate filet come from all the fish mentioned above.

In the Mediterranean sea sole is the most popular fish to use for today’s recipe: FLOUNDER FLORENTINE

So let’s start:
Preparation for 4 persons:
Ingredients:

8 4-oz. flounder filet (gray sole, fluke)
1 lb. fresh baby spinach
1/2 lb. feta cheese
1 medium Spanish or yellow onion
1 cup of Jasmine rice
1 small carrot
1/2 cup golden raisins
1 stick of butter
8 oz. white wine
1/2 cup lemon juice
1 tbsp. Hungarian paprika

Preparation:
The Rice:
Finely dice the onions and carrots in a casserole. Use half of the onions and all of the carrots with half stick of butter sauté for 2 min on high heat. Add the raisins and the rice and continue cooking for another half min. Add 1.5 cups of water to the mixture. Bring to boil. Cover with lid and lower the temp to minimum. Cook until water evaporates. The secret for rice not to stick is washing it under cold water several times before cooking.

The Fish:
Sauté 1 lb of spinach with other half of diced onions until it is tender. Remove from heat and leave aside to cool. (5-7 min.) Crumble fete cheese and fold into the spinach. In a medium size pan place 4 filets face up. Divide the spinach and feta mixture into 4 equal parts and cover the filets lightly pressing down with your palm. Cover with remaining 4 filets using the same procedure lightly pressing it down, just like a stuffing. Slice the remaining butter into 8 fine pieces. Place 2 slices on top of each filet. Pour white wine and lemon evenly over the fish. Sprinkle equal amounts of paprika and send it to the preheated 420 degree oven for 10 min!

The Plating:

Place the golden raisin Jasmine rice to one side of the plate and the fish to the other. Pour the remaining juices from the pan over the fish and serve.
Enjoy, see you next month…

Chef John Zakarian
In great performances, the performer is the center of attention. Cooking is like a symphony, like a painting or sculpture, like a novel or poetry. The greater the performance, the greater the attention. I never hesitated to compare the chefs of this world to the kind of Chopin, Rubens, Caruso, even Led Zeppelin or Dali (the latter is the short lived nouvelle cuisine). The chef in his atelier (kitchen) is the MASTER PERFORMER- fingers gliding over piano notes, throwing colors on the canvas, writing a romance, mixing fresh and exotic ingredients on his way to a grand chef d’oeuvre. Yes you can compare the great chefs of all time to great masters of all time.  www.zaksprimesteakhouse.com