Bradenton Herald | 12/28/2005 | IMG adding to its game plan

IMG Academies of Bradenton Florida is expanding its programs in training world-class athletes to a new venture: corporate training. more...IMG adding to its game plan

Affordable housing can fuel local and regional economies "

Affordable housing can fuel local and regional economies more...Affordable Housing:

Palatial place: Indoor-outdoor living, kitchen most impressive

Majestic, old-world elegance meets modern amenities in Peregrine Homes' newest model. more...Palatial place

Citizens Property Insurance OKs rate hike

Citizens Property Insurance Corp. has approved a statewide rate hike of 44 percent for homeowners in high-risk areas. more...
Citizens Property Insurance OKs rate hike

Risky mortgages could be harder to get

Qualifying for a low-payment, high-risk mortgage is getting harder.
Federal regulators plan to issue a notice this month that could make lenders more hesitant to offer "non-traditional" mortgages -- such as interest-only loans and option adjustable-rate mortgages -- to people with weak credit or finances. more...Risky mortgages

Home Improvement Directory

For your reference, here is a site you may find useful regarding home improvements. more ...Home Improvement Directory

National Home Values Rise 12%

As a matter of information and despite the media naysayers, the average U.S. home price rose 12 percent for the period ending Sept. 30Home Values

Area groups to march in Myakka City's parade

Bradenton Herald | 11/30/2005 | Area groups to march in Myakka City's parade

Lakewood Ranch is a Buyers' Market

Lakewood Ranch real estate has become a buyers market. The number of listings have substantially increased. Prices have not dropped but we see the effect of the increased inventory as flattening the price levels. ...Buyers market

Effect of "As-Is" Clauses on Brokers and Sellers

When purchasing a property, the effects of any "as-is" clauses can be big problems. If the contract contains these clauses in my opinion it should be reviewed by an attorney. ...more Effect of "As-Is" Clauses on Brokers and Sellers

REALTOR� Magazine - Daily News

REALTOR� Magazine - Daily News: "
Fla.: Ruling Sides With Builders on Impact Fees

(November 7, 2005) -- Homebuilders in Florida won a legal victory in October when a circuit court judge ruled against Osceola County�s new $9,708 per unit impact fee. The fee applies to single-family homes, multifamily units, and mobile homes. The judge ruled that the fee overstated the impact new school users (generated by new construction) would have and reduced the fee to $7,608 per unit.

The ruling came on the heels of a September hearing on a motion for rehearing and reconsideration filed by the Florida Home Builders Association and the Home Builders Association of Metro Orlando. Edie Ousley, FHBA�s public affairs director, says the group is pleased with the judge�s ruling but is still concerned about a statewide trend toward higher impact fees.
�We had contended for quite some time that it was unfair to in essence charge twice for one fee,� Ousley says. �The judge�s ruling on a motion filed for reconsideration by the FHBA and the HBA of Metro Orlando also will require that the Osceola County officials credit homebuilders $2,100 for fees already paid.� The court will rule on how refunds will be handled on Nov. 17.

Ousley says the revised $7,608 figure for each new home built in Osceola County is still a high price to pay for new development. Because such fees are passed through to homebuyers, schoolteachers, firefighters, police officers, and others could have a hard time finding affordable housing as a result of the increased costs, she says.

�By Bridget McCrea for REALTOR� Magazine Onlin"

Law of Fixtures

If you are about to purchase a property become familiar with the "Law of Fixtures". When purchasing your home what you see is not always what you will get. more... Law of Fixtures

Affordable Housing Impact

Further debunking myths about high-density housing, a new study reveals a certain type of affordable housing has little if any negative impact on surrounding home values. To the contrary, under some conditions, affordable housing can give general home values a boost. more...
Realty Times - Real Estate News and Advice

What is an appraisal

An appraisal is a dispassionate, third-party estimate of the value of a piece of property. It can either give you peace of mind by affirming your offering price or it can put the kibosh on a transaction entirely.Sarasota Real Estate, Sarasota Florida Real Estate, Siesta Key, Bradenton, Sarasota new homes, Sarasota house, Lakewood Ranch Real Estate, Lakewood Ranch, Sarasota County Real Estate, Sarasota Florida, Sarasota, Florida, Gary Brey

Buying a New Home

If you are purchasing a new home in Sarasota chance are you will be purchasing new construction. As a Buyers Agent I act solely on the Buyer's behalf. It is important to understand the on-site development sales people represent the Builder only.

The following is an article from BankRate.com which offers some great advise when purchasing new construction. Buying a New Home

Florida State Parks

There are several state parks in the vicinity of Lakewood Ranch. (Always something to do) For more information ...

Florida State Parks

Manatee Players win top honors

The Manatee Players, Bradenton's highly acclaimed community actors troop, is at it again. more...

Manatee Players win top honors

Jazz at the Ranch

Jazz at the Ranch
When: 2:00pm - 5:00pm

Where: Sarasota Polo club
Jazz at the Ranch

On November 6, 2005 the Jazz Club of Sarasota and Lakewood Ranch have teamed up to bring you a Sunday afternoon of jazz at the Sarasota Polo Club. Tampa Bay�s Les Sabler will take the stage at 2 PM, getting you relaxed and ready for the fabulous Spyro Gyra. Tickets are available at Town Hall, Sarasota Herald Tribune, The Jazz Club of Sarasota or online at tickets.lakewoodranch.com"

Lakewood Ranch Dream Home Search

You can locate all properties for sale in Lakewood Ranch here ...


Find properties for Sale in Lakewood Ranch

Welcome to Lakewood Ranch

Lakewood Ranch is Florida's premier planned community. In the early 1900s, John Schroeder of Milwaukee, Wisconsin, began to assemble the land known today as the Schroeder-Manatee Ranch (SMR). An owner of furniture, turpentine, milling and lumber businesses, Schroeder selected this land for its abundant natural resources and beauty.

In 1922, the Uihlein family, founders of Schlitz Brewing Company, acquired the land and continued to expand the agricultural operations, which are still active today. Cattle ranching, vegetable and citrus farming, timber, turf and shell mining are but a few of these businesses.

In 1994, after 19 years of planning and approvals, real estate development was added into the mix with the introduction of Lakewood Ranch. The historic presence and careful dedication to the land is a natural comfort for prospective homebuyers. The strength of a great American family, combined with a history of successful land management and a strong financial plan using Community Development Districts make Lakewood Ranch a sound investment and a great place to live. With each new homebuyer, the rich sense of family and place continues to make connections at Lakewood Ranch

Sarasota Voted Great Place to Re-Invent Your Life!

The 15 Best Places to Reinvent Your Life

Baby boomers are redefining retirement-and leading the move to a new generation of dream towns

By Grace Lichtenstein, Elaine Robbins, and Michael Dupuis



Once again, baby boomers are breaking the rules. This influential group has bumped traditional retirement off its list of priorities. While "their parents were off fleeing to Leisure Worlds," says historian William Strauss, boomers are contemplating what to do in the next stage-and where.

A recent AARP study estimated that 70 percent of those 45 and older plan to continue working in their "retirement" years, and a Roper Starch Worldwide survey found that the number may be as high as 80 percent. Financial stability isn't the only reason; the Roper study notes that pure enjoyment of work (35 percent of those questioned) or just a desire to try something new (5 percent) will also keep people on the job.

The choices boomers make-in everything from jobs to zip codes-will alter the country's future physical and financial landscape in substantial ways. "Fully situated in middle-age, boomers have become a serious economic as well as social force with which to be reckoned," says William H. Frey, a University of Michigan demographer and a leading researcher of age-migration trends. "And, as usual, all eyes are on them." Already, it's possible to discern certain trends.

Among those ages 45 to 54, only 4.7 percent-fewer than one out of 20-move across county lines each year, while even fewer move across state lines, according to Frey. So it's likely that the largest portion of this demographic will stay put. Why? Boomers "see their homes as legacies," explains Strauss. And since they tend to get along with their kids, they have no plans to get away from them.

How We Picked the Cities

Our research team looked at 10 criteria reflecting the needs, interests, and tastes of Americans age 50 and older. Not all of the towns excel in every category, but each ranked high in several, and many scored high in most. You'll see some surprises here-we made a genuine attempt to spotlight sleepers-vibrant towns and cities that may not have occurred to you.

Availability of jobs, since many in this group will work beyond age 65.

Affordable housing-many cities have costs on par with or below the national median price of $161,600.

Culture and entertainment (from museums and opera to shopping and sports events).

Access to outdoor recreation, from skiing and biking to walking and hiking.

Safety-personal and property safety, and a generally secure feeling.

Colleges or universities (for continuing education and a multigenerational vibe).

Sense of community (often places with a vital and walkable downtown).

Proximity to comprehensive, well-regarded health care facilities.

Good public high schools, since many boomers still have teens at home.

Ease of getting around (public transportation, traffic, access to an airport).

For those who will move, sometimes the pull of the familiar is key. Many will move to be near family. One of the differences between baby boomers and the older "silent generation," says Strauss, is that this younger group is not rebelling against family ties. In fact, remaining close to loved ones is a priority. College towns, too, offer a familiar feel. The experience for those who "were in college from the middle 1960s into the early '70s," says Strauss, "was something that set the whole generation on a life-cycle trajectory. College communities were the closest thing boomers had to the beaches of Normandy."

In addition to the community aspect, universities generate jobs and lend a youthful vibe. And they often come with arts centers, medical facilities, and sophisticated restaurants.

Another trend: choosing a new locale first-opting for one with appealing cultural and recreational lifestyles-and only afterward looking for ways to earn a living there. Strauss calls this the "aesthetic choice." Some who make this jump wind up telecommuting, starting a small business, or working part-time.

This is particularly true of the region Frey calls "the New West." Colorado, Washington, Idaho, Wyoming, and other states have recently lured long-time Californians (others are coming along, too) who loved the Golden State lifestyle but became fed up with high taxes and crowds. Flush from cashing out their equity in houses whose value mushroomed, these California migrants are transplanting themselves to attractive neighborhoods in nearby states.

Also a popular choice: purchasing vacation homes with a view to spending more time there in the future. Again, the New West-particularly Colorado-is seeing much of this activity. Other hot spots? West Virginia, Tennessee, and Arkansas-all quieter, less crowded destinations that come with lower prices.

Since "boomers and middle age are now synonymous," says Frey, "the whole country will become more middle-aged-but some places more than others." Where might those places be? We've compiled a list of 15 highly livable towns by looking at a range of criteria-from affordability to community life to job growth. Ultimately, of course, choices are as varied as the people making them. But this is a good place to start dreaming.


SARASOTA, FL

Sarasota, a small, civilized city on Florida's Gulf Coast, has it all-35 miles of beaches, a temperate climate, golf courses and tennis courts aplenty, and good boating in the Gulf and Sarasota Bay. Fine dining has rendered the early-bird special an endangered species-you'll have no trouble finding first-rate food at places like Pattigeorge's on Longboat Key or late-night burgers at Patrick's downtown. The local economy is robust (unemployment is a mere 2.8 percent), and there is a mix of jobs in tourism, the financial and health fields, and information technology.

But, apart from the sun, what residents love most is the range of cultural opportunities. What other small Florida city has an opera, a symphony, a film society, a theater scene (from Broadway classics like Porgy and Bess to a cabaret where you can dine while watching original productions), lots of art galleries-and The Ringling Museum of Art (with paintings by Rubens as well as circus props). "If you can't find something to do around here," says Regina Kelley, a local teacher, "you'd better check your pulse."

Experts Agree-No Sarasota Real Estate "Bubble!"

Home Price Analysis for Sarasota-Bradenton-Venice

By the Research Division of the National Association of REAL TORS@

Executive Summary


With home prices rising strongly in most parts of the country, there has been widespread media coverage on the possibility of a housing market bust. A thorough analysis of the Sarasota-Bradenton- Venice metro market, as detailed below, reveals that there is very little danger of this.

In fact, the local housing market is in excellent shape with a
potential for significant housing equity gains, particularly for homebuyers who plan to remain in their house for the long run.

Because prices have risen faster than income, the ratio of price-to-income is currently above the historical norm. This measure is frequently cited to imply that there is a housing market bubble.

But this ratio is a misleading measure in assessing bubble
prospects.

A more relevant measure is the mortgage servicing cost relative to income.
This ratio is at a very manageable level. It implies no widespread financial
overstretching to purchase a home in the region. Furthermore, the nationwide supply of homes on the market relative to home sales is very lean, suggesting similarly tight market conditions in the local area.



Price Activity

The current price of $367,800 is 80% above the national average.
The median home price rose 23% in 2004 and 92% in the past three years.
Home price growth has been weak throughout the 1990s.

So part of the recent
increase is attributable to the "catch-up" effect.


Affordability

Because the prices have risen faster than income in recent years, the ratio of price-to-
income has been rising strongly. This measure is frequently cited to imply that there
is a housing market bubble.

Mortgage rates declining to 45-year lows have been a major force in boosting home
prices in recent years. Lower rates allow homebuyers obtain a larger loan without
necessarily increasing monthly mortgage payments.

A more relevant measure for assessing the risk of a home price bubble is the median
mortgage servicing cost relative to the median income. This ratio is currently above
the local historical average, but well below the worrisome levels of the early 1980s.

It implies no widespread financial overstretching to purchase a home in the region
Furthermore, the newly arriving retirees may not get reflected in the income data
since they are not working, but they could have substantial wealth holdings.


Local Sarasota Fundamentals

The job market has been exceptionally strong. There have been 41,000 payroll job
additions in the past five years. Many new job holders seek their own housing units.

The region added in the past five years an estimated 56,000 new housing units of
which about 42,000 were single-family units.

The ratio of five-year job gains to five-year new home construction shows the
"hangover" impact of the housing shortage, or housing surplus.

In our case, the localmarket is at a neutral level as the ratio is right near one. With recent job gains

and the expected continued economic expansion, the jobs-to-new home ratio could further
increase. In addition, as mentioned earlier, the newly arriving retirees will not show
up in the jobs data, though they will need housing.


Other Factors

There is no good data on ARMS or interest-only loan composition for the local
market. But, there have been some reporting in the media of a higher use of these
loans in recent years compared to the past. If true, some homeowners will feel the
pinch of higher rates over time.

The baby boomers are in their peak earning years and have been active in purchasing
second homes, which many consider as their future retirement homes. The baby
boomer impact will continue for another 10 to 15 years.

The region is a prime retirement destination. The local market will benefit from
second-home purchases by U.S. baby boomers as well by wealthy foreigners.


Stress Test

Price declines in the local market are unlikely according to our stress test.
The local housing market will experience a price decline of 5% only under
extreme unlikely scenarios.

For example, mortgage rates rising to 9% in
combination with 33,000 job losses could lead to a price decline. Other scenarios
that could lead to a price decline of 5% are shown below.

Such scenarios are highly unlikely. Most credible forecasts predict the region will
create at least 12,000 jobs over the next 24 months and mortgage rates will hover
around 7% by the end of 2006, which bodes well for future price gains.

Even in the unlikely event of prices declining by 5%, most homeowners will maintain
sizable equity build-up in their homes.

Housing equity will most likely continue to accumulate to local homeowners. The
equity gains under three price growth scenarios are presented below.

One scenario assumes a historical conservative price appreciation of 1.5% above consumer price

index inflation.

With most credible inflation forecasts pegged at 2.5%, home prices
can expect to rise by 4% per year under normal circumstances. The two other
scenarios assume slightly below (1.5%) and slightly above (6.5%) the normal rate of
appreciation.

The local market is more likely to appreciate at an above-normal rate because of the
on-going wealthy baby boomer searching for retirement destinations.


Additional Discussion Points

Home price declines are very rare. In fact, the national median home price has not
declined since the Great Depression of the 1930s. Stock market collapses, the OPEC
oil crunch, economic recessions, and even wars have not negatively impacted national
home prices since the 1930s.


There have been few times when local prices declined. In nearly all these cases, the
price declines were accompanied by sharp prolonged job losses. It is difficult to
foresee a price decline in ajob creating economy.

Homes trade far less frequently than financial assets (about one home sale every 7 to
10 years for most homeowners). There are also larger transaction costs associated
with selling a home due to the lengthy careful examination demanded by home
buyers and sellers. Therefore, home prices are not prone to fluctuations as in the
stock market.

There are neither panic sells nor margin calls associated with homes.

Many non-quantifiable factors could be important for this metro market in
determining home prices.

Access to cultural life, the quality of museums, nearby
local and national parks, water views, exclusive neighborhoods, weather, the
international airport, city vibrancy, restaurants, and a host of other non-quantifiable
factors could have an important influence on the overall pricing.

There are immense tax benefits to owning a home. These tax considerations were not
considered in the analysis. For example, the 1998 law permitting primary owner
occupants to trade down without having tax consequences.

Also most home sales results in no capital gains tax. In addition, long-term capital gains tax rates were reduced in 2003, thereby providing higher return for home investors. These positive
benefits, if accounted for in the analysis, would have shown an even stronger case for
housing fundamentals in supporting home prices.


Price Activity

The current price of $367,800 is 80% above the national average.
The median home price rose 23% in 2004 and 92% in the past three years.
Home price growth has been weak throughout the 1990s.

So part of the recent
increase is attributable to the "catch-up" effect.


Affordability

Because the prices have risen faster than income in recent years, the ratio of price-to-
income has been rising strongly. This measure is frequently cited to imply that there
is a housing market bubble.

Mortgage rates declining to 45-year lows have been a major force in boosting home
prices in recent years. Lower rates allow homebuyers obtain a larger loan without
necessarily increasing monthly mortgage payments.

A more relevant measure for assessing the risk of a home price bubble is the median
mortgage servicing cost relative to the median income. This ratio is currently above
the local historical average, but well below the worrisome levels of the early 1980s.

It implies no widespread financial overstretching to purchase a home in the region
Furthermore, the newly arriving retirees may not get reflected in the income data
since they are not working, but they could have substantial wealth holdings.


Local Sarasota Fundamentals

The job market has been exceptionally strong. There have been 41,000 payroll job
additions in the past five years. Many new job holders seek their own housing units.

The region added in the past five years an estimated 56,000 new housing units of
which about 42,000 were single-family units.

The ratio of five-year job gains to five-year new home construction shows the
"hangover" impact of the housing shortage, or housing surplus.

In our case, the localmarket is at a neutral level as the ratio is right near one. With recent job gains

and the expected continued economic expansion, the jobs-to-new home ratio could further
increase. In addition, as mentioned earlier, the newly arriving retirees will not show
up in the jobs data, though they will need housing.


Other Factors

There is no good data on ARMS or interest-only loan composition for the local
market. But, there have been some reporting in the media of a higher use of these
loans in recent years compared to the past. If true, some homeowners will feel the
pinch of higher rates over time.

The baby boomers are in their peak earning years and have been active in purchasing
second homes, which many consider as their future retirement homes. The baby
boomer impact will continue for another 10 to 15 years.

The region is a prime retirement destination. The local market will benefit from
second-home purchases by U.S. baby boomers as well by wealthy foreigners.


Stress Test

Price declines in the local market are unlikely according to our stress test.
The local housing market will experience a price decline of 5% only under
extreme unlikely scenarios.

For example, mortgage rates rising to 9% in
combination with 33,000 job losses could lead to a price decline. Other scenarios
that could lead to a price decline of 5% are shown below.

Such scenarios are highly unlikely. Most credible forecasts predict the region will
create at least 12,000 jobs over the next 24 months and mortgage rates will hover
around 7% by the end of 2006, which bodes well for future price gains.

Even in the unlikely event of prices declining by 5%, most homeowners will maintain
sizable equity build-up in their homes.

Housing equity will most likely continue to accumulate to local homeowners. The
equity gains under three price growth scenarios are presented below.

One scenario assumes a historical conservative price appreciation of 1.5% above consumer price

index inflation.

With most credible inflation forecasts pegged at 2.5%, home prices
can expect to rise by 4% per year under normal circumstances. The two other
scenarios assume slightly below (1.5%) and slightly above (6.5%) the normal rate of
appreciation.

The local market is more likely to appreciate at an above-normal rate because of the
on-going wealthy baby boomer searching for retirement destinations.


Additional Discussion Points

Home price declines are very rare. In fact, the national median home price has not
declined since the Great Depression of the 1930s. Stock market collapses, the OPEC
oil crunch, economic recessions, and even wars have not negatively impacted national
home prices since the 1930s.


There have been few times when local prices declined. In nearly all these cases, the
price declines were accompanied by sharp prolonged job losses. It is difficult to
foresee a price decline in ajob creating economy.

Homes trade far less frequently than financial assets (about one home sale every 7 to
10 years for most homeowners). There are also larger transaction costs associated
with selling a home due to the lengthy careful examination demanded by home
buyers and sellers. Therefore, home prices are not prone to fluctuations as in the
stock market.

There are neither panic sells nor margin calls associated with homes.

Many non-quantifiable factors could be important for this metro market in
determining home prices.

Access to cultural life, the quality of museums, nearby
local and national parks, water views, exclusive neighborhoods, weather, the
international airport, city vibrancy, restaurants, and a host of other non-quantifiable
factors could have an important influence on the overall pricing.

There are immense tax benefits to owning a home. These tax considerations were not
considered in the analysis. For example, the 1998 law permitting primary owner
occupants to trade down without having tax consequences.

Also most home sales results in no capital gains tax. In addition, long-term capital gains tax rates were

reduced in 2003, thereby providing higher return for home investors. These positive
benefits, if accounted for in the analysis, would have shown an even stronger case for
housing fundamentals in supporting home prices.

Understanding a "Housing Bubble"

HOUSING BUBBLE PROSPECTS Q&As

What is a housing bubble?

As broadly interpreted, a housing bubble refers to an unsustainable gain in home prices. The premise is that a
price bubble is at risk of "popping," resulting in a loss of equity.


Has there ever been a national housing price bubble?

No, not since good recordkeeping began in 1968. There was a national decline in the 1930s during the Great
Depression; however, home prices were not a prime concern in that era. The greatest issues were essentials such
as food, clothing, employment and shelter of any kind. Declining home prices were a natural result of a general
economic collapse caused by the stock market crash in 1929.


What is the "normal" rate of home price growth over time?

Since 1968, the national median existing-home price has increased an average of 6.4 percent per year.
However, that includes a period of high inflation. A better frame of reference is in relation to the overall rate of
inflation. Home prices typically have increased 1.5 percentage points faster than the rate of inflation, as
measured by the Consumer Price Index.


What are the biggest factors that drive home prices?

In simple terms, it gets down to supply and demand. The inventory of homes available for sale has been
historically low since 2001, which is why home prices have been rising at above normal rates.
In a balanced market between home buyers and sellers, there typically is a six-month supply of homes on the
market. Over the last four years, the supply has hovered around 4.5 months. By contrast, in the recessionary
period of 1990-1991, there was in excess of a 9-month supply.


What conditions are necessary for home prices to soften or decline?

Generally, two conditions are necessary for price softness in a given area: an oversupply of homes available for
sale, and adverse economic conditions -generally a weak local job market. Sometimes these conditions occur
against a backdrop of overall economic weakness, recession or high interest rates.


Where and when have home prices declined in the past? What were the general market conditions?

Most metropolitan areas, especially in the Midwest and South, have not experienced price declines in the era of
modem recordkeeping. Iii the period from the mid-1980s though the early 1990s, many metros in the Northeast
and on the West coast saw localized declines. Typically, this occurred in large population centers with very
little capacity for growth. When housing shortages developed during a period of high demand, prices grew at
sharp double-digit rates -often over 20 percent per year -for several consecutive years.
After local economic conditions declined in those areas, home sales stalled and the inventory of unsold homes
rose, which eventually led to price softness or decline.


How long have home prices declined in the past?

Although there are exceptions to any general fmding, most metro areas that experienced price declines were
relatively short lived (several years). Most homeowners who went through such downturns --but stayed in their
home for a normal period of homeownership --still netted healthy gains when they sold. People view
homeownership as a long-tenn investment as opposed to the kind of quick-in, quick out investment that Wall
Street is fond of. Unlike stocks, homeowners don't panic sell simply because a home down the street sold for
less. Home prices tend to be sticky on the downside --usually a single digit decline in any given year following a
sustained period of double digit gains. Very few people buy at the top of a market and then sell in a short
timeframe. After several years, home prices level and return to normal appreciation patterns.


Should we be concerned that home prices are rising faster than family income?

No. There are three components to housing affordability: home prices, income, and financing costs -the latter
are historically low.
During the last four-and-a-halfyears of record home sales, there has been a shortage of homes available for sale.
As a result, home prices during this period have risen faster than family income. However, in much of the
1980s and 1990s, the reverse was true -incomes rose faster than home prices.
On a national basis, according to the Housing Affordability Index published by the National Association of
Realtors@, a median income family who purchases a median-priced existing home is spending a little over 20
percent of gross income for the mortgage principal and interest payment. In the early 1990s, a typical mortgage
payment was in the low 20s as a percent of income, and in the early 1980s it was as high as 36 percent. Overall
housing affordability remains favorable in historic terms.


What are the prospects of a housing bubble?

There is virtually no risk of a national housing price bubble, based on the fundamental demand for housing and
predictable economic factors. It is possible for local bubbles to surface under the right circumstances, but that
also is unlikely in the current environment. There are tight supplies of homes available for sale in most of the
country, and labor markets have been improving. In other words, the two conditions necessary for price softness
do not exist in most of the country.

The strong underlying demand for homes results from the simple fact that the population is growing faster than
the supply of homes. In addition, it is highly unlikely that the cost of construction will decline. In fact, .
construction material shortages are expected to continue and the cost of building and development is trending
up.


Baby boomers remain in their peak earning years. Echo boomers -the children of the baby boom generation -
are just entering the period of life in which people typically buy their first home. The echo boom is the second
largest generation in U.S. history. Considering the median age ofa first-time buyer is 32, echo-boomers will be
a big factor over the next decade. In addition, immigration has been strong for many years. Census data shows
that immigrants eventually achieve homeownership rates higher than do native born Americans -this also will
be a strong factor in housing demand in the future. Also, minority ownership rates have been trending up.
All this means the demand for housing is historically high and is one of the reasons 2005 will be the fifth
consecutive year of record home sales. Even in an economic downturn, the demand remains. If conditions
become unfavorable, home buying may be postponed, but a general price decline remains highly unlikely.


What is likely to happen with home prices?

The forecast is for mortgage interest rates to rise slowly over the next year, which will have a minor breaking
effect on home sales. The good news is that will help inventory levels to recover and allow the market to come
into a closer balance between buyers and sellers.
In other words, a general slowing in the rate of price growth can be expected, but in many areas inventory
shortages will persist and home prices are likely to continue to rise above historic norms.

Public Image of Realtors® Reaches All -Time High

CHICAGO (October 20, 2005) –Public opinion of the nation’s Realtors® has reached an all-time high for the third straight year according to an annual tracking survey conducted to measure the effectiveness of the eighth season of the National Association of Realtors®’ multimillion-dollar Public Awareness Campaign.

The survey’s composite image score of 19 beliefs, opinions and attitudes about Realtors® rose from 56 percent in 2004 to 59 percent—up 11 points since 2002. The survey also found that the likelihood of real estate consumers to use a Realtor over a real estate licensee who is not a Realtor® rose 4 points to 64 percent this year.

Some of the consumer beliefs and opinions that improved most over the past 12 months are: “Realtors® bring the latest technology to buying and selling a home” (up 6 points to 63 percent); “Realtors® have the expertise to help sellers price their home fairly” (up 4 points to 64 percent); “Realtors® earn their commission” (up 6 points to 50 percent) and “Realtors® advocate private property rights of homeowners” (up 12 points to 54 percent).

“Public support for Realtors® and the value Realtors® bring to the real estate transaction is higher than it has ever been. Consumer attitudes towards Realtors have been improving steadily for the past few years due to many factors, especially the effectiveness of the Public Awareness Campaign,” said NAR President Al Mansell of Salt Lake City.

Total awareness of NAR’s television and radio advertisements reached the highest level in the history of the campaign. Awareness rose 2 points to 73 percent—reaching nearly three out of four real estate consumers in America. In 2005, 55 percent of consumers recalled seeing or hearing at least one of the NAR advertising executions, an increase of 2 points over 2004. Awareness of the call to action introduced last year, “Ask your agent if they’re a Realtor®, a member of the National Association of Realtors®,” increased from 32 percent to 39 percent.

Beliefs about Realtors® that improved the most this year were: that they have the best network of sources to help buyers and sellers (79 percent up 6 points over year ago); that they are best qualified to promote the sale of a home (73 percent, up 12 points); that they are professional (70 percent, up 13 points); that they conduct business with ethics and integrity (69 percent, up 11 points); and that they get the job done properly (68 percent, up 10 points).

Buyers who purchased a home in the past 12 months reported a jump from 39 percent to 56 percent in agents identifying themselves as Realtors®, while sellers reported an even more dramatic 23 percentage point gain, from 41 percent to 64 percent.

Realtor® support for the advertising campaign continues at levels similar to those last year, according to a survey of NAR members conducted in concert with the consumer survey. Ninety-eight percent of all NAR members favor the ad program, 94 percent would like to see more advertising, and 78 percent rate the advertising effectiveness as excellent/very good (up four points). Sixty-seven percent of members, a significant 10 point gain over last year, cite NAR’s advertising as an important reason for joining the association.

The National Association of Realtors® Public Awareness Campaign kicked off its eighth season last February and it will end next week. New ads this season featured people talking about their real estate experiences and touting the benefits of working with a Realtor®. The ads encourage consumers to contact a Realtor® first when it comes time to buy or sell a home or lease a commercial space.

The $25 million advertising campaign featured four new television commercials this year and four new radio spots, as well as new customizable print ads, posters and Web banners for state and local associations to use. Commercials included NAR’s first-ever Spanish-language television ad. The new spot, which closely resembles the English-language version, featured Hispanic Americans sharing their hopes, dreams and stories about trying to achieve the American dream of homeownership.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries.

National Parks in Florida

If you plan to visit Lakewood Ranch Florida, here is the list of national parks located in Florida:


Big Cypress National Preserve
Ochopee, FL National Preserve

--------------------------------------------------------------------------------

Biscayne National Park
Miami, Key Biscayne & Homestead, FL National Park

--------------------------------------------------------------------------------

Canaveral National Seashore
Titusville and New Smyrna Beach, FL National Seashore

--------------------------------------------------------------------------------

Castillo De San Marcos National Monument
St. Augustine, FL National Monument

--------------------------------------------------------------------------------

De Soto National Memorial
Bradenton, FL National Memorial

--------------------------------------------------------------------------------

Dry Tortugas National Park
Key West, FL National Park

--------------------------------------------------------------------------------

Everglades National Park
Miami, Naples, and Homestead, FL National Park

--------------------------------------------------------------------------------

Fort Caroline National Memorial
the Timucuan Preserve; Jacksonville, FL National Memorial

--------------------------------------------------------------------------------

Fort Matanzas National Monument
St. Augustine, FL National Monument

--------------------------------------------------------------------------------

Gulf Islands National Seashore
Gulf Breeze, Florida and Ocean Springs, Mississippi , FL,MS National Seashore

--------------------------------------------------------------------------------

Timucuan Ecological & Historic Preserve
Jacksonville, FL Ecological & Historic Preserve

--------------------------------------------------------------------------------



ParkNet U.S. Department of the Interior FOIA Privacy Disclaimer FirstGov

Sarasota Reading Festival

Sarasota Reading Festival


The Sarasota Reading Festival is an annual free community event promoting literacy and
celebrating the pleasures of reading. The Festival is one of our area’s special events that truly offers something for everyone! There are dozens of events, including readings and discussions by award-winning authors, book signings, food booths, inventive crafts, and children’s activities.

The Festival is held each year in downtown Sarasota, and attracted over 18,000 people in 2004.

The Festival is produced by Friends of the Selby Public Library, Inc., and New College Library Association, Inc. Presenting Sponsor is the Sarasota Herald-Tribune.

The 2005 Sarasota Reading Festival will be held Saturday, November 5, in downtown Sarasota.

Up-to-the-minute Festival information may be found at the Festival Web site, www.sarasotareadingfestival.com, or by calling 941.906.1733.

Begins: 11/05/2005 09:30 AM
Ends: 11/05/2005 05:00 PM

County, city to sell a lot of lots

Article published Oct 26, 2005
County, city to sell a lot of lots
Seized North Port properties to be sold for affordable housing

By Doug Sword

SARASOTA COUNTY -- North Port and Sarasota County will jump into the real estate market in a big way next week, hoping to make $50 million to $70 million that the county can use for affordable housing.

The county has already committed much of its windfall, expected to top $20 million, to affordable housing initiatives. While North Port hasn't yet dedicated its windfall, one commissioner said the city needs to use the money to pay for road projects.

While officials already had the money spent, a Web site is scheduled to launch Monday to whet the public's appetite for 2,100 North Port properties seized between 1998 and 2003 after the owners didn't pay their property taxes.

If the average parcel sells for $25,000, that would bring $51.2 million to the city and county after expenses.

The two governments hired Fisher Auction Co. of Pompano Beach on Tuesday to conduct the auction with bidding, some via the Internet, starting in early January and ending Feb. 11.

General Development Corp. originally sold the 2,100 lots beginning in the 1950s. After decades of little appreciation in value, the owners, mainly Midwesterners, stopped paying property taxes by the early 1990s, said David Bullock, deputy county administrator. At the time, a typical tax bill was only $20 or $30 a year, he said.

It's taken a decade to get control of the properties and for North Port and Sarasota County to settle a lawsuit over ownership. The two governments went to mediation and North Port will get 55 percent of the profit from the massive property sale, while Sarasota County gets 45 percent.

An initial estimate puts the estimated profits from the sale at about $50 million.

"I'd say that's conservative," said North Port Commissioner Barbara Gross. The city hasn't decided how to spend the money, but Gross would like to see much of it spent on improving roads.

The county will spend its share on affordable housing initiatives and infill development, which could include extending utilities to parcels in urban and suburban areas that development has skipped over.

The 21,000 properties, scattered throughout North Port, have been unwanted for years. During the 1990s, they were all put up for public auction because of unpaid back taxes. But there were no bidders.

Officials say that won't be the case this time around. The properties were appraised at $11 million two years ago. North Port's population has risen by 55 percent over the last four years so the two governments expect that appraisals could easily quadruple.

Based on recent sale prices, the average bid price during the auction could be $35,000, said Larry Arnold, general manager of business operations for the county's public works department.

Four questions to ask yourself before you jump on the home buying bandwagon

Should I buy a house?


Four questions to ask yourself before you jump on the home buying bandwagon.
April 4, 2005: 8:54 AM EDT
By Sarah Max, CNN/Money senior writer

Salem, Ore. (CNN/Money) –A month ago my friend caught me off guard when she asked the seemingly simple question: "Should I buy a house?"

After seeing all of our friends – even the single and unsettled – jump on the buying bandwagon, this free-spirited friend was starting to think that she too should commit to a mortgage.

"Am I going to kick myself a year from now for not doing it?" she asked.

"Do you even know where in the world you'll be a year from now?" I came back, thinking of recent conversations about out-of-state job opportunities and international fellowships.

Still, I wasn't about to take responsibility for this kind of decision.

So I did what any good friend would do: I asked a few leading questions and waited for her to come to her senses.

Why do you want to buy a house?
It used to be that buyers wanted to find a place to live, with the additional benefit of making some money over the long run. Increasingly, buyers say they want to find a place to invest, with the additional benefit of having somewhere to live in the short term.

Yet, even cheerleaders of the housing market warn that double-digit price gains aren't realistic. David Lereah, chief economist of the National Association of Realtors and author of the new book "Are You Missing the Real Estate Boom?" says he expects healthy price appreciation through the next decade. But his idea of healthy is 4 percent to 6 percent a year.

Even in strong markets, you may not break even if you sell too soon.

Let's say my friend buys a $200,000 house and sells it a year later for 10 percent more than she paid, which a pretty nice return by historical standards. After she pays a real estate agent, accounts for her closing costs and pays capital gains taxes, she'll walk away with less than $4,000 -- which is what I'm guessing she would spend sprucing up the house.

If the house appreciates only 5 percent, she'll lose money on the deal.

True, my friend could hold the house and rent it out. Of course, if she's not sure she's ready for the responsibilities of owning a house, she's definitely not ready to be a landlord.

At least she won't throw away money renting, right? Actually, most of her mortgage payment will go toward interest during her first year, and what little she puts toward principal will be eaten up by property taxes, insurance and other costs of owning.

A reasonable timeframe is three to five years, said Linda Marcelli, managing director of Merrill Lynch in Tampa Bay, Fla. "If you do happen to buy a house at the top of a market, you need to have flexibility to wait for prices to come back," she said.

Can you afford it?
Given that you can buy a house with no down payment, roll your closing costs into your mortgage and opt for an interest-only loan, this question might sound outdated.

But buying a house still takes money even if you manage to keep your mortgage payments low and save on closing costs. Between the time you pay for a home inspection and make your hundredth trip to Home Depot -- and I'm speaking from experience -- you could spend thousands of dollars in incidental expenses.

"We always advise people to have a cash reserve of four to six months of expenses in the bank," said Marcelli. "But if you're buying a house you should have even more."

What is the cost of renting?
Nationally, the gap between the cost of renting and the cost of owning is now the widest it's been in a decade, according to Gleb Nechayev, senior economist for Torto Wheaton Research. In most markets, he said, the price of owning has gone up while the cost of renting has remained flat or declined.

If you're weighing the pros and cons of buying, you might find it useful to take the pulse of the local rental market for a couple of reasons.

First of all, you might learn that you can actually save more money renting over the course of a year or two than you would on an appreciating home. My friend thinks she could rent a small two-bedroom house for about $700 a month in her market.

Her mortgage, property taxes and insurance on a similar house would likely ring in at close to $1,300 a month. At that rate her house would need to appreciate more than 10 percent in a year (assuming she sells with an agent) for her to walk away with more than she saved renting.

Second, the relationship between rent prices and the cost of owning is one way to gauge the health of a real estate market.

"There is an underlying relationship between home price and rents in close analogy to the stock market's [price-to-earnings ratio]," said Nechayev. If the cost of owning is significantly higher than renting similar property, the housing market may be overvalued relative to its economic fundamentals.

Are you ready to commit?
You should weigh the pros and cons of owning, take a close look at what you can afford and research your local market. But, at the end of the day the answer to the question "Should I buy a house" isn't going to show up on a spreadsheet or be revealed by a survey of friends and family.

"Emotionally, I'm not ready to commit," my friend told me a few weeks after she first came to me with her dilemma. "I feel like I should listen to that."

"A house is a huge commitment," I added, thinking how instead of touring Europe this summer I'll be landscaping my overgrown yard and pulling up tile in an out-of-date bathroom. "You'll know when the time is right."

As the saying goes: You want to own the house. You don't want the house to own you.

Sarasota #4 in the Nation

DANA SANCHEZ
Herald Staff Writer

MANATEE - We're on the map in more ways than one.

Manatee County's recent astronomical property appreciation rate - 41 percent this year - brought national attention to the area. Now the growing Sarasota-Bradenton Metropolitan Statistical Area is drawing attention for other reasons: showing up on quality-of-life indexes on an almost daily basis.

Like Entrepreneur Magazine's Top 50 Places for Entrepreneurs (Sarasota-Bradenton was No. 47) and Colin Powell's Alliance For Youth 100 Best Communities for Young People (We showed up on the unranked list). We're also No. 8 on a list of 100 top renter-friendly midsize towns by ApartmentRatings. com.

On Tuesday, the area landed the No. 4 spot on a list of the 10 hottest major metropolitan markets for jobs by American City Business Journals.

Sarasota-Bradenton is the top Florida market for jobs and is bettered by only Las Vegas, Phoenix and Washington, D.C., according to a report at www.bizjournals. com.

The study compared unemployment rates (3.5 percent for Sarasota-Bradenton in June, down from 4.4 percent last year), non-farm employment, jobs added and the percentage change.

This area's work force grew by 16,500 jobs from June 2004 to June 2005, the study found. That's a 5.6 percent increase.

Quality of life and a growing population are getting the area onto lists, said Nancy Engel, executive director of the Manatee Chamber's Economic Development Council.

"When your metropolitan statistical area grows, that kicks in more things being recognized," Engel said.

The population for the Sarasota-Bradenton Metropolitan Statistical Area is 639,438, according to the U.S. Census Bureau's 2004 American community survey.

Some list-makers consider that a large city like Entrepreneur.com, which ranked the hottest large, mid-size and small cities for entrepreneurs.

Sarasota-Bradenton ranked 47th on its list of top 50 large cities to start and grow a business. Phoenix ranked No. 1 followed by Charlotte and Raleigh-Durham, N.C., and Las Vegas.

Phenomenal demand for real estate has helped Sarasota-Bradenton rank high in quality-of-life indexes, said Jim Parrish, a business analyst at the University of South Florida's Small Business Development Center in Tampa.

"When people move to an area to achieve quality of life, they need things," Parrish said. "Any business oriented towards consumers is going to do very well." That includes restaurants, retail establishments, financial services and banking, he said.

Here's a list we didn't show up on: Forbes' 2005 list of most expensive ZIP codes. Heading that list was the Atherton, Calif., ZIP code 94027, with a median home price of $2,496,553. Miami Beach's 33109 ZIP code was the most expensive Florida ZIP to make the list, with a median home price of $1,505,655.

This compares with Sarasota-Bradenton with a median home price of $347,400 in August, up 34 percent from $258,700 last year, according to the Florida Association of Realtors.

Here's an informal sampling of other lists ranking Sarasota-Bradenton:

• The area ranked No. 161 for risk from diesel soot out of 359 metropolitan statistical areas, according to a February study by the Clean Air Task Force using data from the Environmental Protection Agency.

• The Milken Institute, a nonprofit economic think tank ranked Sarasota-Bradenton sixth in a list of top performing cities in November.

• Sarasota ranked third in a list of top 10 Best American Art Towns, a guide to galleries, museums, festivals, lodging and dining, according to the Economic Development Corp. of Sarasota County.

• Sarasota was named sixth on a list of best markets for the creation of start-up businesses, according to a study by SalesGenie.com.

Lakewood Ranch gets first assisted-living facility

REBECCA BLUE
Bradenton Herald Staff Writer

LAKEWOOD RANCH - Over the past few years, family members frequently encouraged Mary Lee O'Neil and her husband, Joseph, to enter an assisted-living facility.

But leaving behind a six-bedroom ranch house in Lincroft, N.J., just wasn't something this 90-something-year-old couple wanted to do.

"We were afraid we'd have regrets about leaving behind our home of 32 years. We had wonderful neighbors and friends," Mary Lee O'Neil said.

When their nieces, both Lakewood Ranch residents, found out an assisted-living facility was coming to their neighborhood, they saw an opportunity.

The opportunity coincided with New Jersey's frigid 2004 winter season, which caused the O'Neils to change their thinking.

"We had to have our driveway plowed seven times. That did it. That was our last winter," Mary Lee O'Neil said.

The O'Neils moved into their 604-square-foot "Osprey" apartment at The Windsor of Lakewood Ranch on Sept. 14. In the two weeks they've resided at the new facility, they've quickly made themselves at home.

Joseph O'Neil is particularly fond of the relaxing atmosphere.

"I'm looking forward to the lack of chores," he said.

So far, the Windsor, 8220 Natures Way, is at one-third of its 86-room capacity. A good chunk of its residents are similar to the O'Neils. They have adult-aged children living in Lakewood Ranch, according to Jason Rosenberg, residence director.

"It's convenient and allows the family to be closer," Rosenberg said.

The average age of The Windsor's residents is 82. The facility allows its residents to come and go as they please. Transportation is provided but some of the residents still drive, according to Rosenberg.

The Windsor's owners, Pete Russell, Cathy Layton and Tim and Gail Buchanan, are all local residents and have been in the business for more about 15 years. They also own The Windsor of Bradenton and The Windsor Oaks, also located in Bradenton.

When they envisioned the Lakewood Ranch facility, they wanted to maintain a homey feeling, Russell said.

Two stories tall, the facility is surrounded by a wildlife nature preserve, complete with a lake on its west side.

The Windsor offers eight one-bedroom floor plans, ranging from 360 to 604 square feet and costing from $2,325 to $3,200 a month. The base service plan also includes a life-enrichment plan with several activities; weekly housekeeping, personal laundry and linen services; three meals a day; all utilities, except phone services; and 24-hour staff availability.

Residents can add on tailored services such as medication management, specialized diets and assistance with bathing, grooming and other personal-care needs. Companion service is also available to perform errands, escort residents to facility events or outside activities, and for additional housekeeping services.

The Windsor also offers a dining room with a view of the preserve; a living room with a 55-inch screen television complete with surround sound; media and game rooms; a library; a screened lanai and courtyard; a personal care suite for health and wellness evaluations and service; a therapeutic spa; and a beauty salon.

Rebecca Blue, Herald reporter, can be reached at rblue@HeraldToday.com or at 708-7919.

--------------------------------------------------------------------------------

© 2005 Bradenton Herald and wire service sources. All Rights Reserved.
http://www.bradenton.com

Burnt Store Road getting 1,800 homes

By John Heys
Sarasota Herald Tribune

CHARLOTTE COUNTY -- Lennar Communities plans to build a golf course community of 1,800 homes off Burnt Store Road in Charlotte County.

The community, dubbed Tern Bay, will feature a mix of single-family homes and condominiums on 1,700 acres south of Punta Gorda and north of the Lee County line, Lennar announced Tuesday.

A 27-hole Chip Powell-designed golf course, with a clubhouse, restaurant and fitness center, also is planned.

US Home and Lennar will build homes in the community. Prices haven't been set, but Lennar says it expects them to be "competitive for the area."

The project developer, Tern Bay Development Co., committed in January to widen nearly two miles of Burnt Store Road in return for impact-fee credits from the county worth about $5.6 million. The two-lane road will be widened to four lanes.

Lennar has built more than 25,000 homes in Charlotte, DeSoto, Manatee and Sarasota counties.

On Monday, the Miami-based company reported better than expected third-quarter earnings. Net earnings for the quarter were $337.3 million, or $2.06 per share, compared with $225 million, or $1.36 per share, in 2004.

That beat several Wall Street estimates.

New Flood Insurance Program Starts Oct. 1st

New Flood Insurance Program Starts Oct. 1st
Coverage under the nation's flood insurance program will change as October 1st, a long-planned event not directly related to Hurricanes Katrina and Rita, but one that will substantially impact those most likely to be flooded in the future.

Until this point the National Flood Insurance Program (NFIP) has provided three basic levels of coverage:


Owner-occupants could obtain as much as $250,000 for property damage plus $100,000 for lost contents.

Tenants could insure personal property for as much as $100,000.

Investors could get coverage of up to $500,000 per property, a figure which includes both damage to the structure as well as contents.
Depending on where you lived, maximum residential coverage for the structure and contents ranged from $703 to $1,822 per year. Less coverage was also available with lower annual premiums.

The problem with the program's long-term approach is that while coverage was fairly equivalent, claims were not. For instance, one study done by the National Wildlife Federation found that 5,629 homes had 19,979 flood insurance claims.

These homes had a gross value of $307.5 million -- but because of repeated claims owners obtained flood insurance payments worth $416.3 million. That's right -- insurance coverage was more than $100 million greater than actual property values.

The problem of repetitive losses structures is huge. Essentially the current insurance system encourages folks to build again and again in the same way and in the same spot where they have previously been inundated.

"About 1 percent of the 4.4 million properties currently insured by the program are considered to be repetitive loss properties," says the General Accounting Office. However, this magical 1 percent produces about 38 percent of all program claim costs, $4.6 billion since 1978.

In other words, a lot of people overpay for flood insurance to assure the coverage of those most likely to be inundated. Seen the other way, those most likely to be flooded are paying less than they should.

As of October 1st, however, program rules will change. Under the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 -- legislation signed into law in June 2004 -- owners with flood insurance will get a chance to upgrade risky properties. If they don't, insurance premiums will soar.

Under the new rules:


A "severe repetitive loss property" is defined as a structure with one to four units with four or more separate flood insurance payments exceeding $5,000 each or a total of more than $20,000 in claims. A property with two claims which together exceed the value of the property is also defined as a "severe repetitive loss property."

Grants will be available for elevating risky properties, relocating them to higher ground, demolishing properties prone to flooding, flood-proofing risky properties and buying them outright.

Owners of flood-prone properties can decline such offers and have a right to appeal "repetitive loss" designations.

Premuims will increase 150 percent above current flood insurance rates for those who refuse to mitigate.

If a damage claim to a property exceeds $1,500 and the property owner has refused mitigation, the insurance premium will again increase 150 percent.
The plain purpose of the new flood insurance standards is to target those properties most likely to produce claims -- and to force owners to either improve what they own or to pay more for flood coverage.

That seems both logical and fair.

The new flood insurance rules are surely a better approach than the old standard if only because they target the properties most in need of mitigation. That said, there are several issues to consider:

First, it's difficult to imagine that many beach-front structures -- no matter how elevated or flood-protected -- can be defended in the face of Katrina, Rita and storms of similar size and power. It may be that we are entering a new era of hurricane activity, one that will cause even further changes in the construction and insurance of beach-front property.

Second, beach-front structural improvements without wetland and barrier island re-development are useless. Unless we get serious about coastline ecology, it's easy to see where taxpayer money will be washed out to sea.

Third, what about those impacted by Katrina and Rita? Will homes destroyed by these hurricanes be instantly defined as "severe repetitive loss" properties? If yes, one can assume that virtually all Gulf Coast owners will accept mitigation or buy-out offers.

For more articles by Peter G. Miller, please press here.


--------------------------------------------------------------------------------
Written by Peter G. Miller



--------------------------------------------------------------------------------

Copyright © 2005 Realty Times. All Rights Reserved.

Prepare for the Manatee of tomorrow, CEO says

MATT GRISWOLD
Herald Staff Writer

LAKEWOOD RANCH - Manatee County continues to change, but Rex Jensen's message does not: Growth is coming, like it or not. So plan and prepare - or suffer the consequences.

It's not the first time that Jensen, president and chief executive of Lakewood Ranch developer Schroeder-Manatee Ranch Inc., has given his "Nature of Planned Growth" talk and it won't be the last. But with each passing month, as out-of-town residents continue their influx into Manatee County, the weight of Jensen's words get heavier and heavier.

"Regulation hasn't stopped, or even controlled, growth," Jensen said. "We need a shift of thinking from trying to manage growth to trying to plan for it."

About 75 people were on hand Wednesday for the Manatee Chamber of Commerce-sponsored presentation.

It's poor planning, he said, that is responsible for all of the people who oppose new growth.

"I don't blame people for not liking growth," he said. "It's linear, environmentally negative and unattractive. It consumes infrastructure without providing any."

His company's master-planned development - Lakewood Ranch - is a good laboratory, he said, to study growth planning and how it can be dealt with efficiently and effectively.

Jensen identified insufficient roads and county policy on residential density requirements as the two biggest problems facing the area.

"The roads we have today won't support the population of tomorrow," he said.

Jensen pointed to the State Road 70 widening project which he says should have been done 10-15 years ago.

County Commissioner Donna Hayes was on hand for Jensen's talk and, like Jensen, believes that transportation is one of the most important issues facing Manatee County.

"There's no doubt about it. We missed the boat on transportation," Hayes told The Herald. "We haven't been able to keep up with it."

She said a new east-west connector, like extending 44th Avenue all the way out to Lakewood Ranch, will help ease congestion on heavily traveled arteries like S.R. 70 and State Road 64.

Hayes is also a proponent of developing a new transit system to include buses and trolleys that people would use to get to and from work each day.

The commissioner also said the county is going to have to make some concessions with developers regarding density if there's any hope of developing housing that is truly affordable to the average worker - something that is imperative if Manatee County is to continue to attract new employers.

Jensen said it's critical to start working on these problems now. Problems can't continue to worsen without economic and quality-of-life ramifications, he said.

"Look at the places we draw people from - New York, New Jersey, Michigan, Ohio. How long will it take for this place to get worse than another place? We can't let it get that far."

Matt Griswold, Herald business reporter, can be reached at 708-7908, or at mgriswold@HeraldToday.com.

Tips for Real Estate Investors

Tips For Real Estate Investors


Got the real estate investment bug? You aren't alone.

By the end of 2004, the National Real Estate Investors Association's 20,000 affiliated members were double the previous year's numbers, but even at 20,000 represented only about one fourth of all U.S. real estate investors in investment clubs, the association said.

Investors accounted for what's likely a record 23 percent of all home sales last year, according to the National Association of Realtors' "2005 National Association of Realtors Profile of Second-Home Buyers."

While the investor purchase portion is 23 percent, other second home buyers who become aware of the potential for a return on their property may very well take a more speculative approach. The second home market now accounts for 38 percent of the existing housing stock and 36 percent of all homes purchased last year, NAR said.

"These aren't second homes. You know where that down payment is coming from. People are leveraging one price asset against another on a pure momentum play," said Robert M. Campbell, a San Diego-based investor and author of "Timing The Real Estate Market."

Residential real estate investors have become a driving force in the residential real estate market -- much as the dot com stock market did to create the New Economy and the longest economic expansion on record.

But just as the dot com bust littered Wall Street with lost shirts, a real estate down turn could leave blood red ink flowing down Main Street if rookie investors let the lure of green cloud their judgment.

We talked to individual investors, real estate agents who also invest, investment clubbers and others to help get you started with the dos and don'ts of real estate investments.

Here's what they suggest.

Buy your own home first. Buying a home will not only put a roof over your head, but teach you the true cost of property ownership beyond the monthly mortgage payment, give you a primer on financing, school you on how location and changing market conditions affect property values, give you the angle on tax and other home owning benefits, help you learn about property maintenance, introduce you to a host of professionals who could prove invaluable when you really get into investments and otherwise act as a prerequisite foundation for higher studies in real estate investments.

Even before home ownership the process of buying a home provides basic information that later could prove invaluable to you as an investor. What's more -- your first home could later become your first investment property, a property in a market with which you are familiar.

"I bought my first house on May 1, 1981. The property became a rental in February 1988. Technically it was 50 percent a rental in June 1981 as I shared the house to afford it," said Richard Calhoun, a real estate investor for nearly two decades.

Go back to school. A booming real estate market that pushes your home value up by double digit percentages in the first year doesn't automatically make you a savvy investor any more than the dot com boom could have made you a stock market mogul. After you buy your own home turn to the Internet, libraries of books by reputable authors, successful, credible investment groups, college and university level courses. Individual real estate investors, salespeople and others who you met on the way to home ownership may also be valuable resources, both for information and perhaps as a mentor.

Using more than one resource will help you cancel out the bad information and ferret out the good.

"The importance of knowledge and education cannot be overestimated and is almost always underestimated," said Calhoun.

Get professional help. The same way you find any competent, trustworthy and honest professional is the same way to look for a mentor, investment partner with prior knowledge or investment group. Seek referrals from friends, family, professionals with whom you already conduct business, co-workers and others you trust who've recently had a satisfactory, successful experience investing in real estate. Someone who already knows the ropes comes in handy when you need a leg up on a deal.

"There are many honest and reliable outfits and clubs that are genuinely beneficial to those looking to increase their knowledge. That's one of the good things about a club -- you get to ask other people whose information is good and whose is garbage," says Phyllis Rockower, founder of the Real Estate Investor's Club of Los Angeles.

You'll also need professional help once you are beyond the buying stage -- someone to manage your investment for example.

"For many, the question of managing rental properties is resolved by the proximity to the property and the willingness on the part of the owner to invest the time required to market and manage the property. Often, it makes sense for those far away to take advantage of a "local" property manager. The rewards of self management may be great, but one needs to consider the time investment required," said Bart Meltzer, president of RentOne Online, a Scotts Valley, CA, Web-based marketing and management tools provider for vacation rental managers.

Learn your investment market. One market's bubble could be one investor's boom and another investor's bust. A home in one market could give you vacation rental income in a half year sufficient to cover the cost of principal, interest, taxes, insurance, home owner association dues, upkeep and other costs, but not appreciate, while another home in another market won't bring you enough rent to cover your expenses but appreciate more than enough to make up for it over the long term. The variables are endless.

"The most common mistake of inexperienced investors is to make the mistake that one area is the same as another," said Romeo Danais, who has investments in Oklahoma, Texas and New Hampshire.

"Twenty-five years ago, a bunch of guys in San Jose, CA, 'discovered' Sacramento, CA, investment real estate. Duplexes could be purchased for half the price of San Jose duplexes. So these guys purchased a lot of duplexes and then made another 'discovery'. The Sacramento duplexes didn't rent for as much as duplexes in San Jose. In fact, due to the glut of empty duplexes in Sacramento they rented for even less than the differential in prices. Assuming rather than proving is a big mistake," Danais said.


Written by Broderick Perkins

How Does the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 Affect Your Rights?

By M. Lewis Hall, III, Attorney, Williams Parker Harrison Dietz & Getzen, Sarasota Florida
(941) 366-4800

On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the “Act”), making the most significant change to the Bankruptcy Code since 1978. Most of the changes made by the Act go into effect October 17, 2005. A few of the provisions, particularly the limitation on the homestead exemption, became effective immediately upon enactment. Most of the changes made by the new Act primarily affect individual consumer bankruptcy filings, but there are provisions affecting both corporations and small businesses.

At the heart of the new Act is the abuse standard for Chapter 7 (liquidation) filings. The abuse standard requires a debtor who is seeking Chapter 7 bankruptcy relief to pass one of two income tests – otherwise, the debtor will have to resort to either a Chapter 11 (reorganization) or a Chapter 13 (reorganization) for bankruptcy relief.

The limitation on the homestead exemption could be the most significant new provision in Florida, due to Florida’s unlimited homestead exemption. The provision reduces the debtor’s homestead exemption for increases in home value that resulted from the use of non-exempt property by the debtor, “with intent to hinder, delay, or defraud creditors” in the 10 years prior to the debtor’s bankruptcy filing. The new Act also contains a two-year residency requirement provision for state property exemption laws to apply – in other words, the debtor’s place of domicile for the previous 730 days will govern which state’s property exemption laws apply in the filing.

The new Act does increase the list of possible exclusions from a debtor’s bankruptcy estate. The most noteworthy of these exclusions include contributions to qualified benefit plans, education accounts or tuition credit accounts, and property transferred to tax-exempt organizations.

Other notable changes within the Act include longer wait times before filing subsequent bankruptcy cases, greater document production requirements, mandatory credit counseling as a prerequisite to filing a bankruptcy petition, and a provision allowing a Trustee to pay a tardily filed claim under certain circumstances.

Real Estate Tax Roll-Back

Residential Real Estate Tax-Reform Program / Affordable Housing Incentive

Goals:

1. Increase affordable housing in Sarasota
2. Insure current homeowners can afford their Sarasota homes
3. To strengthen the current housing market

Program:

All currently homesteaded property / or declared “second home property” would have their real estate taxes rolled-back to 9/11/2001 or the least tax ever assessed on the property since 2001, such as newer construction.

An owner would only be able to declare 1 property as a ‘second-home”.

When an owner sells his primary or second - home property and purchases another property of greater value which will also be homesteaded or declared “a second home, he “takes with him” his property tax from the house he is selling.

Also the new purchaser of the subject property may “keep the rolled back tax” if he intends to homestead the property or declare it a “second-home. If the property is being purchased not as a primary or qualifying second home, the tax would be at the current assessed value.

Also,

1. In order to qualify as an approved second-home, the property must be located at least 75 miles from the purchaser’s primary residence.

2. First-time home buyers will have their property taxes frozen for 3 years.

3. All new construction would be taxed according to current value.

Air Tran to Fly NYC & Boston Non-Stop

MANATEE - AirTran Airways on Wednesday announced plans to add daily nonstop service to area fliers' top two destinations - New York and Boston - from Sarasota-Bradenton International Airport beginning in November.

The expansion brings the number of destinations offered by the low-cost carrier to seven since it began service at Sarasota-Bradenton in December.

The latest announcement represents a milestone and promises to stimulate interest from other airlines, airport officials and an aviation consultant said.

An elated Fred Piccolo, airport president and CEO, told airport authority members Wednesday that AirTran's rate of expansion is "unheard of" in the industry.

"Up until a year ago, Sarasota-Bradenton was viewed as a risky airport," said Mike Boyd, an aviation consultant with The Boyd Group in Evergreen, Colo.

Boyd, who worked with Sarasota-Bradenton International Airport to attract AirTran, said SRQ could be one of the fastest-growing small airports in the nation in the next two years.

"The airport is coming of age," Boyd said. "Airlines are discovering markets like Sarasota-Bradenton, where they can make money. The days are over when you have to worry about air service there."

Daily round-trip flights to New York's La Guardia Airport will begin Nov. 8 using Boeing 717 aircraft. Service to Boston's Logan International Airport will begin Nov. 16 on Boeing 737s.

An AirTran spokeswoman confirmed the airline's satisfaction with the Sarasota-Bradenton market.

Adding seven destinations in eight months "is certainly a record for us," said Judy Graham-Weaver, public relations manager with AirTran. "We want routes that are going to be profitable and well received by the market. So far, everything we have put into SRQ has done just that."

With the new service, AirTran will serve seven of the top 10 destinations from Sarasota-Bradenton airport, including the top two - New York and Boston - said John Kirby, AirTran's director of strategic planning, in a news release.

AirTran destinations from Sarasota-Bradenton include Atlanta, Baltimore-Washington, Chicago, Detroit and Indianapolis.

"New York City is our No. 1 market, and Boston, over the years, has consistently been a top-five market despite the lack of nonstop service," Piccolo said.

Piccolo celebrated by presenting airport authority Chairman Bob Waechter with New York Mets, Yankees and Boston Red Sox baseball caps at the monthly authority meeting Wednesday.

"We've been trying to get nonstop service to Northeast destinations for years," Piccolo said.

Passenger traffic was up 20 percent at SRQ in June, and up almost 20 percent for the year.

Boyd estimates about 1 million passengers in the Sarasota-Bradenton area have used other airports because of the lack of seats and higher fares associated with flights departing from SRQ.

But all that's history, Boyd said.

"Both have been addressed," he said. "This is just the start."

Waechter echoed the optimism.

"We hope other airlines will look at us," Waechter said. "We have built it. Now they can come."

Valeo License Number: 3.120.4846710-87687

I-75 Has LWR Signage

Representative Ron Reagan (R-67th) has worked with the Florida Department of Transportation to secure signage for Lakewood Ranch on Interstate-75.

Two signs are now placed on the Southbound side before State Road 70 and on the Northbound side before University Parkway. Both say “Lakewood Ranch Next Two Exits.” There will also be an arrow at the University Parkway exit directing drivers to Lakewood Ranch.

“I’m pleased to have been able to advance this initiative,” states Reagan. “As Florida continues to enjoy record popularity as a tourist destination and desirable place to relocate, we need to direct motorists who are not familiar with our community safely to their destinations.”

Lakewood Ranch residents have frequently requested interstate signage. The master-planned community is now home to more than 10,000 people. Plus, there are more than 8,000 employees in Lakewood Ranch-based businesses. There are also thousands of people visiting the area to patronize the shops, hotels, restaurants and golf courses.

“This is an important step in further establishing our identity as a new community in the state,” notes Schroeder-Manatee Ranch, Inc. President and CEO Rex Jensen. “With the recent announcement of a US Post Office in the works, we are well on our way.”

New High School Opens

RICHARD DYMOND
Herald Staff Writer

EAST MANATEE - It was a long road, but Braden River High School opens today to take its place as Manatee County's sixth high school.

Built on the history-rich corner of State Road 70 and Caruso Road in East Manatee, the vast, red-brick campus features eight academic buildings woven amid athletic fields and a football stadium.

The school opens with an enrollment of 650 freshmen and sophomores and about 900 King Middle School students, displaced by demolition and rebuilding of their school.

With its acoustically advanced auditorium ceiling, looking so high-tech that one subcontractor dubbed it "The U.S.S. Enterprise" from Star Trek, Braden River High School blends sophisticated with simple.

"The buildings were mostly rectangles because that affords the most space and is easiest to build on time," said project manager Matt Lethbridge of W.G. Mills Construction Company. "Then you have the ceiling of the auditorium where, to achieve great acoustics, you see double and triple angles that leave you speechless."

For 75 years, the only thing acoustic about the site where Braden River High now sits was the sound of rain on greenhouse roofs.

The University of Florida's Gulf Coast Research and Education Center once resided on the 195 acres at the corner of Caruso Road and S.R. 70. In 2001, the university decided to close the landmark center because the facilities had aged beyond renovation.

There was an outcry from growers, politicians and local citizens.

"We are not talking about a facility here; we are talking about tradition," said then-state Rep. Mike Bennett, R-Bradenton.

Although Bennett and other political leaders were able to get a three-year stay-of-execution for the local center, it was obvious that fate was about to introduce S.R. 70 and Caruso Road to its next occupant.

On Oct. 8, 2002, the Manatee County School Board voted its intent to buy the 195-acre site from the University of Florida and turn it into a high school modeled after Lakewood Ranch High School and designed for 2,000 students.

"If you looked all over Manatee County, you couldn't find a more ideal site for the next high school," said then-Superintendent Dan Nolan.

There were approximately 1,000 high school students living between U.S. 301 and Interstate 75, most attending Lakewood Ranch at the time, school officials said.

Desperately needing a high school to relieve crowding at Lakewood Ranch High, school officials set their sights on meeting an August 2004 opening date.

Public reaction was mixed. One concern was traffic.

"I don't agree with it," said Sonny Newberry, a resident of nearby Tara. "I think it's going to make a lot of congestion at Caruso Road."

During routine soil testing of the site, the school district discovered four small areas of chemical contamination, residue of the former agricultural operations.

The county and the university haggled over the problem and the university finally agreed to pay about $100,000 to clean up the site.

On March 3, 2003, the deal was done - Manatee County had the hot corner for $11.9 million and all attention turned to getting a $38 million school started.

The best-laid plans

On April 14, 2003, the school board broke ground on what was then known as AAA High School.

Excitement was in the air.

"What this all means is that classes will not be overcrowded and we will not have double sessions at Lakewood Ranch High School," Nolan said.

But the excitement was short-lived.

In June 2003, a prehistoric American Indian burial mound was found near the site, causing Southwest Florida Management District to put brakes on the project.

Construction was held up three months.

The mound was used by an unnamed tribe to bury its dead as long ago as 200 A.D., before the Spanish came to Florida, before the days of the Seminole Indians, said Bill Burger, a local archeologist who investigated the site.

By the time The Florida Division of Historical Resources cleared Southwest Florida Water Management District to issue the permit, the school board decided to delay the opening.

The board said that since the school wouldn't be finished until four months into the 2004 school year, it would open in August.

Blessing in disguise

The core of the campus - the eight academic buildings - took 16 months to build and were completed Oct. 29.

Even though the athletic fields and other areas were not done, the classrooms were ready and a need arose to use them.

King Middle School students began attending Braden River High in April this year while their school was being torn down.

"It was a great help," said Sheridan Dowling, the head of construction services for the school district. "King now has walls coming out of the ground because we could demolish that building the first of April."

As a result of concern over possible traffic congestion on Caruso Road, the district and the county teamed up for a plan to add lanes to Caruso Road and improve the intersection at S.R. 70 and Caruso Road.

Although construction has been going all summer, it won't be ready this month, Dowling said.

"I would say this is the only negative associated with the project," Dowling said. "The roadwork took a tremendous amount of time in permitting and the work is detailed. You have to move all the subsurface and above ground utilities."

Caruso Road won't be finished until late October, Dowling said.

There are also plans for a road on the southeast corner of the campus, giving access to S.R. 70.

"I would say we are many, many months away on that," Dowling said. "I don't think the permits will be worked out for six more months."

But Dowling gives the campus itself high praise.

"In my opinion, it's the most beautiful school we have ever built," Dowling said. "The most striking thing about the facility is the beauty of the brickwork. The patterns give it a very rich and distinctive look."

The 369,000 bricks used in the project are mostly palomino red clay that are colored light and dark.

But in the front of the school, some "chocolate" bricks were used for accent.

Gang of Pirates

New Principal Jim Pauley and his staff have been preparing for a year for today's adventure of opening a new school.

When he first spoke to his teachers as a group a few weeks ago, Pauley said a few things that revealed his personality.

"I don't like meetings," the former Palmetto High School principal said. "This is probably the longest meeting we will have all year."

Pauley told them a few other things, like his preference for dropping into classrooms to peek in on what's going on.

Then, he gave a Gipper speech, Pirate style.

"We're untying the ship from the dock," he said, delighted in the way the Pirate mascot can fit into almost any motif. "We might hit a sandbar or two on our maiden voyage. But, ladies and gentlemen, there is also a lot of blue water out there."

By the numbers

1: Elevator at the football field press box

1.5: Miles to walk around building, football stadium and student parking areas

2.5: The length, in inches, of the longest shark's tooth found during site clearing

32: Security cameras on campus

47: Height, in feet, of the tallest building, the auditorium

800: Distance, in feet, of campus courtyard

240,000: Square feet of interior space

369,000: Estimated number of red clay bricks used for outside walls

As students return to class today, those at Braden River High School start fresh. But it took years of planning and determination to get here.

School starts earlier

Public school hours have changed this year: elementary school, 8:45 a.m. to 2:45 p.m.; middle school, 9:30 a.m. to 3:35 p.m.; and high school, 8 a.m. to 2:05 p.m.

Have questions?

Call the school's hotline at 708-4976, or go online at www.manatee.k12.fl.us.

"In my opinion, it's the most beautiful school we have ever built. The most striking thing about the facility is the beauty of the brickwork."

- Sheridan Dowling, head of construction services for Manatee County schools


--------------------------------------------------------------------------------
Richard Dymond, Herald reporter, can be reached at 708-7917

Valeo Clearance License 3.120.4786851-72327