my florida resource - september 2011

Living the dream.Home ownership.

The monthly magazine of My Florida Regional MLSSeptember 2011

Volume 1, Issue 5

page 3 page 5

1 | My Florida ReSource | September 2011 Volume 1, Issue 5

September 2011

My Florida ReSource MagazineSeptember 2011

Volume 1, Issue 5

My Florida Regional MLS (MFRMLS)5032 Goddard Avenue

Orlando, FL 32804Tel: (407) 218-8607

Toll-Free: (800) 686-7451Fax: (407) 293-6461

About MFRMLSMy Florida Regional MLS is Florida’s larg-est multiple listing service with over 32,000

subscribers. Owned by 15 Shareholder REALTOR® Boards and Associations in

Central and Southwest Florida, MFRMLS offers a comprehensive suite of productiv-ity and marketing tools to professionals in

the real estate industry.

Positioning StatementMy Florida Regional MLS is the only real estate information resource that helps our members deliver quality service to their

customers by providing the tools and op-portunity to succeed in their profession.

2011-2012 MFRMLS OfficersBill Dryburgh, President

Melody Hall, President-ElectSteve Amburgey, Vice-President

Bob Grant, Jr., TreasurerAaron Chandler, Immediate Past President

MFRMLS ExecutivesMerri Jo Cowen, CEO

Jay Markell, CFO, COODeanna Rogers, VP of Information Services

Carole Burgess, VP of AdministrationJennifer Thompson-Kersting, Director of

Marketing and Education

Editorial StaffNatashia Ford, Editor

Doug Wise, Editor, Creative Director

In every issue...

Living the dream.Home ownership.

Featured3 New additions to MyFLoridaHomesMLS.com5 Down Payment Resource: have you tried it?7 Data Co-op has arrived!

11 Training & Tips—Recent My Tips of the Week

13 Resources—How to win over buyers

17 Real Estate News19 Spotlights

—Team Member: Roderick Dela Cerna, Lead Technical Support Rep.—Product and Services: ShowingTime

21 Compliance Corner (NEW SECTION!)22 Commercial Real Estate News (presented by MFCRE)23 Around the House (an article for current and future home-owners)

25 Off-Property: Recap of Florida Real-tors® 2011 Convention & Trade Expo

www.MFRMLS.com September 2011 | My Florida ReSource | 2

MFRMLS PROPERTY REPORT & LINK

Online, interactive housing payments & lending info displayed side-by-side with property information on a new Consumer Report

Keeps customers on listings longer

You choose the lender to display

Interactive mortgage tool allows homebuyers to play ‘what if’ scenarios to address their financing needs

PROPERTY FLYER PROGRAM

The system creates detailed flyers with property listing information and acurate mortgage payment information

Created with one mouse click

Can be emailed or printed

Promotes both the Agent and chosen Loan Officer

RatePlug provides your prospective homebuyers with valuablepayment information specific to each property they view.

1.

2. Provides marketing material for your Open House functions or general display.

How does RatePlug helpAgents in today’s market?

FREE to MFRMLS Members!Visit www.rateplug.com/mfrmls to enroll

3.*Participating lenders pay a license fee.


News Additions to MyFloridaHomesMLS.comBy MFRMLS Staff

Good news! We are proud to an-nounce some new additions to

MyFloridaHomesMLS.com (including your Custom Link)!

The following enhancements have been added to the MyFloridaHome-sMLS.com website (including your Custom Link):

—Section for rental properties (including Short-Term rentals)

—Down Payment Resource

—No “Find an Agent” tab (when visiting a Custom Link)

—ListHub integration

—Common city name search

Here are the details, according to each new addition:

Rental Property Section (In-cluding Short-Term Rentals)

That’s right, when you navigate to My-FloridaHomesMLS.com, you will now see a section for rental properties. Please see the screen shot below.

Looking for Short-Term rentals? MyFloridaHome-sMLS.com will have those too.

When a consumer visits MyFloridaHomesMLS.com and clicks on the Rental section, they will be able to choose “Short” (for Short-Term rentals) from the drop-down menu, giving them the opportunity to search for Short-Term rentals using an “Ar-rive” and “Depart” date.

Please note: If you currently have the “Long-Term” rental field set to “No” in MLXchange (meaning you have a Short-Term rental property), you should have already received an email notifying you about the three new fields in MLXchange, “Last Date Available,” “Weeks Available 2011” and “Weeks Available 2012,” and the need to popu-late one of those fields.

This will ensure that when a consumer visits MyFloridaHomesMLS.com look-ing for a Short-Term rental, they will be able to enter a “Depart” date and your Short-Term rental will potentially meet their needs (if falling between the dates they’re looking for).

Also, as you may or may not know, the Republican National Convention is coming to Tampa in August 2012! Whether you’re a Democrat, Repub-lican or just plain-dislike politics, you can use the convention and its many attendees, workers and other people to potentially rent any Short-Term rental property you have listed.

For more information on how you can use the Republican National Conven-tion to rent some of your properties, check out the Republican National Convention section in this article.

Down Payment Resource (Info on Down Payment Assistance)

MFRMLS is excited to bring you Down Payment Resource (DPR). DPR was just given the Inman Innovator of the Year award for new technology, and has received many accolades since being released in 2010.

DPR is a tool used to make home ownership a reality by connecting eli-gible home buyers and eligible prop-erties with government funded buyer assistance programs.

DPR has been implemented into My-FloridaHomesMLS.com for consum-ers to utilize, as well as in MLXchange, including the option of adding DPR to IDX websites, for MFRMLS members to utilize.

For more information on DPR as it relates to MyFloridaHomesMLS.com, including your Custom Link, please visit the DPR webpage for MyFloridaHomesMLS.com: http://www.mfrmls.com/member-benefits/down-payment-resource/dpr-and-myfloridahomesmlscom

(For complete information on this exciting new benefit to your mem-bership, including upcoming DPR webinars, please visit the new DPR

September 2011 | My Florida ReSource | 4www.MFRMLS.com

webpage: http://www.mfrmls.com/member-benefits/down-payment-resource)

No More “Find an Agent” Tab for Custom Links

When consumers visit your custom link they will no longer see the “Find an Agent” tab. After all, they are your consumers.

Please note: The “Find an Agent” tab will still appear when a consumer vis-its MyFloridaHomesMLS.com with-out visiting a custom link.

ListHub Integration

If you are currently using ListHub, please know that MyFLoridaHome-sMLS.com has now been integrated into ListHub syndication.

For example, when your listing is syndicated to a website, such as Tru-lia, when a consumer clicks on your property and then on details for that property they will be taken to the respective property details page on MyFloridaHomesMLS.com.

Additionally, the integration of My-FloridaHomesMLS.com into ListHub will potentially give you statistics (or analytics) about online visitors to MyFloridaHomesMLS.com, as a part of the typical reports you may receive from ListHub.

Common City Name Search

MyFloridaHomesMLS.com has added a greater database for city names, as well as common city names (i.e. large community names) that consumers might enter to search for properties (but might not necessarily be used by the postal service).

For example, do you have a large community in your city that people

refer to as the city name, rather than the name of the city the postal service uses?

Now, when people visit MyFlorida-HomesMLS.com and type in that community as the city name, they will potentially get search results for homes in that community.

Republican National Conven-tion and Short-Term Rentals

No politics; Just potential for renting your Short-Term rental properties

The Republican National Convention is coming to Tampa, the last week in August 2012 (August 27 thru 30).

Why is this significant to you? (Hint: it’s not because MFRMLS is trying to promote any sort of political agenda.)

Quite simply, the answer is this: Short-Term rentals.

For instance, if you were attending the Republican National Convention, would you rather stay in a hotel room or stay in the comfort of a rental prop-erty?

We’re thinking the answer to that question is “the comfort of a rental property,” which is why … Whether you’re a Democrat, Republican or just plain-dislike politics, you can use the convention and its many attendees, workers and other people to potential-ly rent any Short-Term rental property you have listed.

For instance, do you currently have a vacation or other Short-Term rental properties that you make available throughout the year?

Then, obviously, you’ll have a greater opportunity to rent those properties in August 2012.

Also, does your client have a home

(for sale or not for sale) that he or she is willing to rent for a week prior to the convention?

If so, you could choose to list that property as a Short-Term rental for the week(s) in August 2012, leading up to the convention.

On our end, we’ll be working hard to spread the word about MyFlorida-HomesMLS.com to the Republican National Convention and other chan-nels that might reach a prospective renter.

More than anything, we’re always looking out for any opportunities that our members might benefit from, and the Republican National Convention is one such opportunity.

As with any additions to MyFlori-daHomesMLS.com and MFRMLS, in general, we hope to help in your success. With that said, be sure to stay tuned, as there may be more new ad-ditions to MyFloridaHomesMLS.com soon!

Thank you for allowing us to serve you, and, as always, if you have any questions please don’t hesitate to con-tact our Help Desk at 1-800-686-7451 (option #1).


Have you tried Down Payment Resource?Down Payment Resource is a new, included (no cost) MFRMLS member benefit By MFRMLS Staff

My Florida Regional MLS is excited to bring you the winner of the Inman Innovator of the Year award for new technology, Down Payment Resource (DPR).

DPR is a tool used to make home ownership a reality by connecting eligible homebuyers and eligible properties with government funded buyer assistance programs.

It’s no secret, lack of down payment is one of the main challenges for homebuy-ers and a deal breaker for REALTORS®. DPR opens up additional opportunities for buyers to secure the home of their dreams and for you (the agent) to close the sale. DPR will also help position you as a local market leader regarding down payment assistance without you having to keep up with all the govern-ment programs, their eligibilities and changes.

DPR is a new MFRMLS member benefit that has been integrated in the follow-ing capacities: MLXchange, IDX and MyFloridaHomesMLS.com.

Down Payment Resource for MLXchange

Now, when you log into MLXchange and search a property, any property that is eligible for Down Payment Resource Assistance will display this DPR “House in the Hand” icon. Note: Only properties that qualify for assis-tance will display this icon.

Broker Reports

On Broker reports in MLXchange, selecting this icon will bring you into the Down Payment Resource website, where you will have the opportunity to view all the possible assistance programs that this particular prop-erty qualifies for. You can view each program, and based on its eligibility requirements and your client’s situa-tion, you can match up assistance for your client and email the information to them.

Customer Reports

Customer reports that are emailed

out of MLXchange will have the same DPR icon but will direct the consumer to qualify themselves by showing the programs the buyer and the prop-erty would qualify for and directs the client back to the agent sending the report for additional information re-garding any of the available programs. This will ensure all leads are directed back to you!

Home Screen

On the Home screen of MLXchange, located in the Resources section on the right hand side, a smartlink into your member portal of Down Pay-ment Resource is also available. This member portal has access to all of your DPR resources including infor-mation on all available programs in certain areas, helpful tutorials, as well as marketing and support tools to further assist you with DPR.

Helpful Tutorials

Connecting Properties with Pro-grams Using DPR: http://www.workforce-resource.com/user/train-ing_module_7

Connecting Customers with Pro-grams Using DPR: http://www.workforce-resource.com/user/train-ing_module_8

Down payment troubles for home buyers?

Page 18Real Estate News


Down Payment Resource for your IDX Website

With the MFRMLS implementation of Down Payment Resource (DPR), you now have the option of adding Down Payment Resource to your IDX sites by making a slight modification to your website.

Once this is done, the DPR icon and link will begin appearing on all properties that qualify for down payment assistance.

When Buyers click on the DPR link, they are taken to the Down Payment Resource website where they answer a few eligibility questions. After they have answered this questionnaire, buyers are told how many properties they qualify for and are given the option of sending you a message to assist them in search.

Once they have sent you a contact message, you will have detailed information regarding the property they were looking at, as well as the type of assistance they qualify for, thus giving you a very strong lead.

You can also use the down payment marketing tools on your website and email signature to make clients aware of this powerful resource you have available for them.

Helpful Files

IDX Setup Guide: http://www.mfrmls.com/resources/document-library/doc_download/484-idx-dpr-setup-instructions-mfrmls

Tutorial

Click on the following link to view a brief tutorial on how Down Payment Re-source works on your IDX site:

http://www.workforce-resource.com/user/training_module_3

Down Payment Resource for MyFloridaHomesMLS.com

MyFloridaHomesMLS.com will now allow your clients to search for homes and potentially find properties that qualify for down payment assistance. From there they will have the ability to provide the information needed to de-

termine eligibility. At that point, you can work to transition them through the process of purchasing their home. DPR also takes advantage of the custom link functionality and will steer the lead directly back to you if your client accessed the consumer site from your custom link you provided to them.

So what are the BENEFITS for MFRMLS

Members?

Some fast facts:

—Currently, 74% of all listings in the MFRMLS inventory could possibly provide down payment

assistance to your buyer.

— Although consumers can search for eligible Down

Payment Assistance properties on MyFloridaHomesMLS.com, in order for them to complete

the process of securing the assistance, they will need to

contact the REALTOR® tied to the property to continue the

process.

— Do you know in advance that a client might have difficulty in securing a down payment

during their home search? Why not search for and send eligible

properties to them directly from MLXchange?

— Be sure to keep an eye on your email for qualified leads as Down Payment Resource directs the consumer right back to you!

— Offer another valuable resource to your clients

by adding Down Payment Resource to your IDX site. Don’t loose a sale due to lack of down

payment!

For more information, please see the article to the left or go to

www.mfrmls.com/member-benefits/down-payment-resource


We are excited to announce that MLS Data Co-op™ is now available for My Florida Regional MLS members. Best of all, there’s no additional fee to use MLS Data Co-op, so be sure to take advantage of this new, value-added MLS tool!

MLS Data Co-op from CoreLogic® MarketLinx® provides new tools, new reports, and a new way to access MLS listings. MLS Data Co-op features an in-novative map-based interface that delivers a wealth of property information.

Better yet, specific MLS Data Co-op reports will be available as a link directly within MLXchange as well as in MLX Help.

MLS Data Co-op gives you access to a wide range of property information in our market area and well beyond including:

• Property, tax, sales, deed and mortgage data

• Property characteristics

• Enhanced mapping and parcel boundaries

• Sales history

• Price and days on market analysis

• Nearby comparable sales

• Community demographic charts

MLS Data Co-op for MFRMLS Members is Here!

• Neighborhood demographic report

• School information

• Real estate trends

• Foreclosure map overlays (pre-default, auction and bank-owned/REO)

• RealAVM™ report

• LAMAR™ report


Additionally, Data Co-op gives you access to:

RealAVM™ – MLS Enhanced Property Value Report

CoreLogic’s patented automated valuation model (AVM) used by 18 of the top 20 lenders is available within the MLS Co-op or as a link within your MLX-change system. RealAVM is a supplement tool for your market analysis and lets you preview the property values lenders are likely to see when evaluating buyers’ loan applications.

LAMAR™ – Listing and Market Activity Report

Listing and Market Activity Report combines public property records with your MLS data to provide you with a comprehensive view of lo-cal market conditions and key information on a subject property in relation to nearby listings and comparable sales, AVM property valuation, days on market, inventory and price and market trends compiled from both MLS and tax data. Available within the MLS Co-op or as a link within your MLXchange system.

Side-by-side View of Foreclosures and Listings on a Map

See which properties are in various foreclosure stages, locally and in other markets along with

(Please see “Data Co-op” page 9)

MLS D

ata Co-op


DATA CO-OP continued from page 8

listings in all statuses. The Data Co-op makes it easy to evaluate properties in the three foreclosure stages and see foreclosure activity around a listing or within a neighborhood. By combin-ing all of this information in one map, you will see a true 360 degree view of the entire market.

Note: If your office primary board membership is with REALTORS® As-sociation of Lake & Sumter Counties, you will not be able to access the Data Co-op. For issues and concerns regard-ing this matter please contact your Association.

Training

As usual, our training team is ready to assist you in getting the most out of the Data Co-op so register for a training webinar now. To see the list of upcoming Data Co-op webinars and to register, please visit http://www.mfrmls.com/member-benefits/mlxchange-benefits/data-co-op and scroll down to the bottom of the article.

Questions

Still have questions regarding the Data Co-op? Take a look at the Frequently Asked Questions document. If you still have questions after reading the FAQs please feel free to contact our helpdesk department at 800-686-7451 at ext 1400.

The Data Co-op is AMAZING! Such a great tool and time saver!—MFRMLS member on MFRMLS Facebook page

I love the new @CoreLogicInc data tools that were just integrated into our MLS! Thanks @MFRMLS

—MFRMLS member on Twitter

What MFRMLS members are saying about Data Co-op:


Class is Now in Session!

Have you been to MFRMLS University? This training portal will connect you to the many courses available to you as an MFR Member. Online, or in person, we’ve got a class for you.

Looking to learn in your pajamas? With easy registration and no waiting, you can bring our trainers into your home through live and recorded webinars. Available online, you can save gas and you can save time. Best of all, the courses are free.

Need face time? No problem. MFRMLS University also con-nects you to live courses taught at your association/board by MFRMLS instructors. With interactive sessions in a classroom setting, you’ll be an expert in no time.

In-person or online, MFRMLS University can help you boost ered with

your membership. Log on today to learn more!

www.MFRMLSUniversity.com

Go Big "U"


Recent My Tips of the Week

Training& Tips

Were you aware you could access Transaction Desk on your iPad (or any tablet device)?

1. Go to www.transactiondesk.com/mfrmls in your tablet browser.

2. Select the button titled “Login via SafeMLS Single Sign-On”

3. This will take you to a log in screen that looks exactly like MLXchange (but is compatible with all browsers). Enter the same ID and Password you use to access MLXchange. You now have access to Transaction Desk!

4. To view a webinar on how to best utilize Transaction Desk, go to http://www.youtube.com/watch?v=KiNCjq7O7lI

Did you know that you can print mailing labels from IMAPP?

1. Access IMAPP by clicking on Tax Search in MLXchange.

2. Then select the county out of the drop down list (example: Pasco).

3. Type in criteria (example: subdivision or property zip code) and click the Perform Search button.

4. Then click the Create Mail Labels button in the results screen.

5. Select “owner” or “owner at property address” and select the type of label you wish to print from the Label Type list.

6. Then click on the Create Labels as PDF button.

7. Click on print, set the “page scaling” to “none”, take the check out of “autorotate and center” and take the check out of “choose paper source by pdf.”

8. You’re ready to print!

Looking for more My Tips of the

Week? Please visit

http://www.mfrmls.com/resources/education-and-

training/my-tip-of-the-week for an archive of

previous tips.

New to MFRMLS or looking for a refresher? Check out the MFRMLS Orientation Video on the MFRMLS Uni-versity YouTube Channel:http://www.youtube.com/mfrmlsuniversity#p/a/u/0/-bzlSTFUFEo


Resources

How to Win Over BuyersNo matter how well educated your buyers are, they still need information on how a real estate transaction works. Use consultation appointments to inform them and become a trusted resource in the process.May 2011 | By Rich Levin

Buyers are more educated in today’s market. They have more access to information regarding properties and their value. Plus there are practically unlimited real estate resources online for practitioners.

These combined factors should make the real estate professional’s job easier, but for many, they don’t. Why? There are two problems:

The information may not be accurate or relevant to a specific market.

The information is almost certainly incomplete.

“An Educated Consumer Is Our Best Customer”

Two adages speak to today’s buyer:

“An educated consumer is our best customer.” (the slogan of Syms clothing stores)

“A little learning is a dangerous thing.” (written by English poet Alexander Pope)

Whether the real estate pro finds buyers easier or more difficult to work with depends on whether that practitioner respects and

completes the buyers’ education.

Have the buyers obtained a copy of the contract and paperwork online? Probably not, and most paperwork has many pages plus addenda. Do the buyers know what real estate trends apply to their market? Do they know what to do when the inspection reveals a problem?

Contracts, inspections, financing, negotiation — there are far too many steps in the transaction process for most buyers to pick up on their own.

A Simple and Powerful Process

The most successful buyer’s agents learn to ask a few simple questions (adjust to the circumstances of you and your buyer accordingly):

“The purchase documents in our area are six pages, plus disclosures and addenda. Has anyone given you a copy of the latest documents and reviewed with you the parts that are going to be relevant for your purchase? I find it helps a lot to be familiar with the documents so you aren’t seeing them for the first time when you’re making that $200,000 decision. Would you like to get a copy and take a look at those together?”

“There are inspectors, appraisers, attorneys, title companies, lenders, and real estate agents involved in the transaction. Would it be helpful to go through the process step-by-step so you know what to expect and get some idea of what might come up? It often reduces some pressure and allows you to enjoy the process with greater confidence. Would that be helpful to you?”

These simple questions lead buyers to make a consultation appointment, which can establish enormous confidence and trust in you, the agent. Buyers subsequently go along more easily with your recommendations through the negotiations, which actually can reduce the number of homes they need to view. They find the experience so valuable that they begin to refer you to friends and relatives.

At the consultation appointment, review each step of the process, educating and preparing buyers. Do they understand the type of financing they’re trying to get? Do they have any questions about it? Even if you don’t have the answers, you can take the lead getting a clarification and making sure buyers are aware of what’s included in their closing costs and their payments, and in reducing cash needed with seller contributions.

You also should explain what buyers can expect: Describe problems that could arise and how you’ve solved them and protected buyers’ interests in the past.

As you conduct these presentations, you’ll quickly discover two things: how much buyers don’t know — even the educated ones — and how much they misunderstand. As you realize the value and power of these consultations, you’ll learn to go into deep detail, continuously confirming buyers’ understanding.

Changing laws and financing situations — such as explaining short sales and foreclosure procedures — are just a few reasons that the time you spend preparing buyers works to everyone’s benefit.

Copyright National Association of RE-ALTORS®. Reprinted with permission.Source: http://tinyurl.com/4xk95r6


http://shortsale.mfrmls.com

5032 Goddard AvenueOrlando, FL 32804

[email protected]

Eligibility Criteria

Submission Guidelines

Where additional documentation is requested, servicer response time will be

issue by working through the servicer. Real estate professional may submit the case in the event the servicer has not provided:

an initial response within 20 days,

or, if the real estate professional has received an approval from the servicer for your transaction, but either the mortgage insurer or second lien holder has imposed a closing condition that is not possible for the borrower to meet.Real estate professional must address all “actionable” requests from the servicer before submitting the issue.

http://loanlookup.fanniemae.com/loanlookup/

Real estate professional must be a member of a participating MLS.Real estate professional must be the listing agent for the property.Real estate professional must obtain a signed Borrower Authorization Form (BAF) from the homeowner(s) and submit it to the MLS; http://mfrmls.com/shortsale/docs/SSAD-BAF.pdf

a request Tuesday and had TWO calls from

houses but she called the second time because I

I call responsive! And she couldn’t have been

-M. HuntAltamonte Springs, FL

1-800-686-7451 [email protected]


Are You Getting the Most out of YOUR Consumer Website?MyFloridaHomesMLS.com is YOUR Consumer Website. Similar to a Trulia or a Zillow, MyFloridaHomesMLS.com keeps YOU at the center

Keeping YOU at the Center of the Transaction.

custom link will be displayed on the landing page.

mfrmls.com

Try It Out Today!

Got Buyers?

Got Stats?


Upgrade Highlights for MFRMLS Members!

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How would you like to be introduced to your client’s friends and family with each listing?AnnounceMyListing is a viral marketing tool that auto-generates two Free Listing Announcements

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Agent AnnouncementEmail your announcement to your database of clients and peers. You can even embed video and links to your blog or website.

For more information visit: www.announcemymove.com/MFRMLS


Real Estate News

ORLANDO, Fla. – Sept. 26, 2011 – Prices are rising in Florida.

Florida cities have had the largest year-over-year increases in average list prices, according to the latest real estate data from Realtor.com. Based on August data of 2.2 million listings in 146 markets, Florida cities make up nine of the top 10 places for highest year-over-year list price spikes.

Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.

Here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices.

1. MiamiAverage list price: $640,332Year-over-year increase: 27.4%

2. Fort Myers-Cape Coral, Fla.Average list price: $443,570Year-over-year increase: 26.27%

3. Central-Fla. rural service areaAverage list price: $405,809Year-over-year increase: 19.41%

4. Punta Gorda, Fla.Average list price: $267,066Year-over-year increase: 16.37%

5. Macon, Ga.Average list price: $193,520Year-over-year increase: 15.98%

6. Sarasota-Bradenton, Fla.Average list price: $466,785Year-over-year increase: 15.86%

7. Naples, Fla.Average list price: $713,087Year-over-year increase: 15.13%

8. West Palm Beach-Boca Raton, Fla.Average list price: $591,895Year-over-year increase: 14.68%

9. Ocala, Fla.Average list price: $193,360Year-over-year increase: 12.07%

10. Lakeland-Winter Haven, Fla.Average list price: $181,409Year-over-year increase: 11.48%

11. Orlando, Fla.Average list price: $319,419Year-over-year increase: 10.56%

12. Portland-Vancouver, Ore.-Wash.Average list price: $314,537Year-over-year increase: 10.52%

13. Boise City, IdahoAverage list price: $212,588Year-over-year increase: 10.43%

14. Springfield, IllinoisAverage list price: $174,537Year-over-year increase: 9.12%

15. Shreveport-Bossier City, La.Average list price: $211,414Year-over-year increase: 8.34%

Source: Melissa Dittmann Tracey, Realtor® Magazine Daily News

Reprinted with permission. Florida Realtors®. All rights reserved.Source (from Florida Realtors®): http://www.floridarealtors.org/News-AndEvents/article.cfm?id=265349

Home listing prices rising in Florida


Daily Real Estate News | Thursday, September 22, 2011

More than half of renters who wish to buy a home say they are unable to be-cause they’re not able to save enough for a down payment, according to Trulia’s Fall 2011 American Dream survey.

Lack of a down payment proved to be the biggest obstacle for young adults (18-34 year olds), as 62 percent cite it as the reason they have been unable to buy a home. Among those aged 35-54, the bigger concern was qualifying for a loan and having a poor credit history, the survey found.

“From saving enough for a down payment to qualifying for a mortgage and having a poor credit history, today’s aspiring home owners face many financial obstacles in order achieve their American Dream of home ownership,” says Jed Kolko, Trulia’s chief economist. “These obstacles keep some would-be home owners from taking advantage of low mortgage rates. On the other hand, they prevent some people from buying homes they can’t really afford. Government home ownership policies can target some of these obstacles to home owner-ship, but only stronger economic recovery will help households facing multiple obstacles become better able to buy homes.”

Home Ownership Still Ranks High

Despite the sluggish real estate market, Americans aren’t turned off to home ownership. In fact, 70 percent of Americans say home ownership is part of achieving the American Dream, according to Trulia’s survey. Fifty-seven per-cent of current home owners say owning a home is among the best long-term investments they could make, and 80 percent of home owners said they plan to buy another home in the future.

Copyright National Association of REALTORS®. Reprinted with permission.Source: http://realtormag.realtor.org/daily-news/2011/09/22/down-payment-remains-obstacle-home-ownership

Down Payment Remains Obstacle to Home Ownership

Check out the Down Payment Resource article on page 5!

Lack of a down pay-ment proved to be the biggest obstacle

for young adults (18-34 year olds), as 62 percent cite it as the

reason they have been unable to buy a home.

““


Every month we spotlight one MFR team member, in order to help distinguish the dedicated, hard-working, friendly faces we have on our MFR staff. We truly believe we have an outstanding team of individuals. And, of course, this is no coincidence, as we look to provide our members with outstanding service.

So, without further ado, we are pleased to spotlight (drum roll please) … Roderick Dela Cerna, Lead Technical Support Representative and golf enthusiast.

How long have you been working at MFR?I have been with MFR for 5 months.

What aspect of your job do you enjoy the most?I really enjoy resolving any member’s issues, especially if I was the last resort!

Any hobbies outside of work?I live, eat and breath GOLF.

What’s your favorite course, that you’ve played?I played at Anaheim Hills Golf Course in California. It’s a beautiful course with high elevations, which was such a break from the flat courses here in Florida.

Any confiding what your handicap is?Before my son was born, it was about 15. Now, it’s about 20.

Where were you born and where were you raised?I was born in Cebu City, Philippines. I came to the US when I was ten months old and was raised in Chicago, IL, as well as Sumter, SC (Air Force Brat) and Orlando.

If there’s one place in the world, all expenses-paid, you could visit tomorrow, where would that place be and why?Scotland. It’s the birthplace of golf.

Thank you Roderick! Thank you for your answers and for being a great team member!

Spotlight

MFRMLS Team MemberRoderick Dela Cerna, Lead Technical Support Rep.


Spotlight

Product and Service

ShowingTimeSpotlights Streamlining the Showing Process

ShowingTime automates the process of coordinating showing requests between the listing agent and the showing agent. But more than that, it eliminates un-necessary phone calls, improves client service, allows for better accountability, and provides better security for the property.

Eliminate Unnecessary Phone Calls

For each property listing in MLXchange, you will find the ShowingTime icon. When you click on the icon and confirm your login information, you will have quick access to the listing agent’s showing instructions, and if required, you can request a showing online. An online notepad allows the showing agent to ask questions or add comments, just as they would over the phone. Once the request is made, an Email is sent to the listing agent immediately for approval. One Email can elimi-nate a chain of phone-tag phone calls.

Improve Client Service

ShowingTime helps listing agents respond quicker to showing agents, and it allows showing agents to respond more quickly to their buyers. As a result, home sellers get, on average, more traffic for listings that take advantage of ShowingTime.

Accountability

ShowingTime keeps a record of each showing request. Accessing the online reports helps agents follow up with and get feedback from the showing agents. Sellers benefit because their listing agent can show them the level of interest their property is receiving.

Security

Only Florida licensed real estate agents who are subscribers to MFRMLS have access to the Showing Instructions. That means a listing agent knows that a request made through ShowingTime has been pre-screened as coming from a licensed professional. With a phone call request, a listing agent must trust the showing request is legitimate or attempt to verify the request personally. As a result of ShowingTime, the seller’s property is more secure. By integrating ShowingTime with the Supra KeyBox, a listing agent can know exactly when a property was entered, and by whom.


Compliance Corner

MFRMLS prides itself on accurate data, and one of our goals is to main-tain a listing service that is successful for everyone. With that said, we want to thank all of our members who comply with our rules and regula-tions.

If there is a violation, a warning will be issued. Most warning notices allow 24 hours for correction before a fine is assessed. However, failure to change the status of a listing is a more serious offense, which is an automatic fine without any warning notice.

AUGUST statistics for rules violations:

Total number of Warnings: 11,909

Total number of Agents Report-ed: 1,949

Total number of Fines assessed: 180

Top Five Violations for August

1. Status – failure to change the status from pending to sold within two busi-ness days of the closing.

2. Active with Contact (AWC) – fail-

ure to have seller’s written authoriza-tion and/or add the “Active with Con-tract” in the Public Remarks directly after “Short Sale,” if applicable.

3. Short Sale – failure to add “Short Sale” as the first two words in the Pub-lic and Realtor Remarks.

4. Incorrect Photo – failure to add a front exterior or rendering, or aerial photo or water view photo in the first photo slot. If a water view or aerial photo is in the 1st slot, the 2nd photo slot must contain a front exterior photo. If placing a water view photo, it must be a photo from the property/unit. Photos may not contain any con-tact information, text, etc.

5. Driving Directions – are required and must be for narrative directions that include full street names, begin-ning and ending points and use stan-dard directional designations. Refer-ence to online electronic mapping isn’t allowed (e.g. Mapquest, Google, GPS is not acceptable.)

Please go to http://www.mfrmls.com/resources/rules-regs for a cur-

rent version of, or questions about, MFRMLS rules and regulations. You can also contact a compliance or ad-ministration specialist at 1-800-686-7451 (option #4) for more informa-tion.

Other compliance notes:

Please make sure to accurately reflect the selling agent on your listings. Fail-ure to do so could result in the selling agent not obtaining the proper credit for sale (this could be you one day) and/or a fine for you. When reported by the selling agent, only MFRMLS administration can correct the issue after the supporting documentation is received.

Look for this section, “Compliance Corner,”

every month!


Commercial Real Estatepresented by

5 Tips for Finding New Commercial Real Estate Revenue StreamsAs the economic recovery lags, businesses realize they need to do even more to cut expenses, reduce payrolls, and find new sources of revenue. But what is left to cut? Where can they find new streams of revenue?

Real estate is often a company’s most valuable asset, and real-estate related moves can yield the biggest return on investment. In the July/August issue of CIRE magazine, Martin N. Burton shares 10 strategies that commercial real estate professionals and their clients can employ to find additional savings and new avenues for cash flow. Here are five highlights:

1. Divide and Prosper – If the time has come to sell off an asset, owners can maximize the chances of sale and total return by selling off smaller parcels instead of a single large one. Not only do smaller parcels typically sell for higher per-square-foot values, but their lower overall prices attract more potential buyers.

2. Embrace This Audit – Some companies have begun to adopt green practices, such as switching to fluorescent bulbs, or making sure em-ployees turn off lights and computers regularly at the end of each day. But a comprehensive energy audit can help leverage the benefits of these improved practices to achieve even greater savings.

3. Bond with PACE – Property Assessed Clean Energy bonds can make green retrofitting even easier, allowing cities to finance a property owner’s green improvements. The owner repays the loan through tax assessments on that property over 20 years. In many cases, the money saved in reduced energy expenses is enough to cover the loan and bring in cash flow.

4. Increase Parking Revenues – Parking operation changes hold enor-mous upside potential for properties located in high parking demand areas. This is because the primary investment required to raise parking income is in management and not physical construction. A change in operations can unlock the hidden value in pricing for weekend, week-day, in-season, out-of-season, reserved, and valet parking, increasing parking “turns” and, consequently, revenues. Even changing the mix of just a portion of stalls from monthly reserved parking to daily or hourly parking can have a substantial impact on cash flow. Contact a parking

(please see “5 Tips” page 25)

Property Assessed Clean Energy bonds can make green retrofitting even

easier, allowing cities to finance a property owner’s

green improvements.

“ “


5 TIPScontinued from page 24

professional for a look at just how much money can be made.

5. Get Paid for Rays – Until recently, electricity generated from solar panels on one’s property could only be used to offset the electricity used on that site. Now, feed-in tariffs allow property owners to sell excess solar power directly to a utility. The electricity generated on rooftops feeds into the utility’s power lines, for which the utility pays a tariff to the property owner.

Copyright National Association of REALTORS®. Reprinted with permission.

Even in a volatile market, green office buildings post significantly better returns than their less-environmen-tally friendly competitors. Those are among the findings from a recent study by Nils Kok and Pier Eichholtz of Maastricht University in the Neth-erlands and John M. Quigley of the University of California at Berkeley. Using data from more than 25,000 commercial buildings on the listing site of the CoStar Group, the authors determined that buildings holding either the Energy Star rating from the U.S. Environmental Protection Agen-cy or the LEED certification from the U.S. Green Building Council had rents that averaged 3 percent higher than comparable office buildings in the same market. In 2007, effective rents—the rent multiplied by the occupancy rate—for green buildings averaged 7.5 percent higher; by 2009, the rent premium had dropped to 5.1 percent. The authors note that some of this variation could occur because green buildings are often newer and larger than competitors.

The study, “The Economics of Green Building,” also determined that between 2004 and 2009, green build-

Green Still Adds Valueings listed on CoStar sold for about 13 percent more than comparable properties. “This strongly suggests that property investors value the lower risk premium—perhaps the insurance against future increases in energy prices—inherent in certified com-mercial office buildings,” conclude the authors.

Copyright National Association of RE-ALTORS®. Reprinted with permission.Source: http://realtormag.realtor.org/commercial/round-up/article/2011/09/september-2011-commercial-news-round-up

this sectionpresented by

Commercial Real Estate


AroundHouse

the An article for current and future homeowners

We hope My Florida Resource is what it claims to be … a resource to you. We know anything that helps your clients in turn does the same for you. So we thought it would be nice to include this “Around the House” section. It’s a place where we share consumer articles with you that can be passed along to your clients or included in your newsletter content.

6 Creative Ways to Afford a Home

The above article is just one of the many articles you can find in the consumer, handout section on Realtor.org. Their consumer articles are downloadable and able to be customized with your branding.

Here is a link to their consumer, handout section: http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-buyers

1. Investigate local, state, and na-tional down payment assistance pro-grams. These programs give qualified applicants loans or grants to cover all or part of your required down pay-ment. National programs include the Nehemiah program, www.getdown-payment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development, www.hud.gov.

(Did someone say down pay-ment assistance? Check out the article on page 5 of this issue of My Florida ReSource.)

2. Explore seller financing. In some cases, sellers may be willing to finance all or part of the purchase price of the home and let you repay them gradually, just as you would do with a mortgage.

3. Consider a shared-appreciation or shared-equity arrangement. Under this arrangement, your family, friends, or even a third-party may buy a por-tion of the home and share in any appreciation when the home is sold. The owner/occupant usually pays the mortgage, property taxes, and main-tenance costs, but all the investors’ names are usually on the mortgage. Companies are available that can help you find such an investor, if your fam-ily can’t participate.

4. Ask your family for help. Perhaps a family member will loan you money for the down payment or act as a co-signer for the mortgage. Lenders often like to have a co-signer if you have little credit history.

5. Lease with the option to buy. Renting the home for a year or more will give you the chance to save more toward your down payment. And in many cases, owners will apply some of the rental amount toward the pur-chase price. You usually have to pay a small, nonrefundable option fee to the owner.

6. Consider a short-term second mortgage. If you can qualify for a short-term second mortgage, this would give you money to make a larger down payment. This may be possible if you’re in good financial standing, with a strong income and little other debt.

Source: http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-buyers/6-creative-ways-afford-home


Off-Property

RecapFlorida Realtors® 2011 Convention & Trade Expo

Thank you to everyone who visited us at the Florida Realtors® 2011 Conven-

tion & Trade Expo.

We had a blast, and we hope to see you at future events. Don’t forget,

events that we attend are a great way to meet us and ask us any questions that have been on your mind. Call-

ing our Help Desk or Administration department and speaking with those friendly folks is nice, but we know it’s nice to sometimes ask questions in-

person, as well.

For a list of upcoming events that we plan to attend, please see the upcom-

ing events list on the next page.

Please note: All event names high-lighted in yellow are the ones we plan

to attend and have a table. Events and MFRMLS attendance are subject

to change.

Katie McCoy, an MFRMLS Trainer, is all-smiles, as she prepares the MFRMLS booth.

Our computer was playing Down Payment Resource (DPR) tutorials. See screen shot below.

This year’s convention and trade show had a Hollywood theme.

Screen shot of a DPR tutorial. “What is Down Payment Resource,” asks the tutorial.

Natashia Ford, Communications Specialist, and Connie Kazakowitz, Member Services Specialist (and MFCRE expert), work the MFCRE booth.

Austin Powers, of the acclaimed films, titled “Austin Powers,” works his “mo-jo” on Sue Queen, one of our friendly faces on the Help Desk team.


Upcoming Events: Venice Area Board of REALTORS® (VABR),

Annual Golf Scholarship TournamentDate: Friday, October 7

Location: The Plantation Golf & Country ClubRegistration: 11:00 a.m.—Shotgun Start: 12:30 p.m.—Dinner around 5:00 p.m.

Visit http://www.vabr.org/#/upcoming-events/4550713868 and find this event on the calendar for more information.

Sarasota Technology ExpoDate: Friday, October 28

Location: Sarasota County Technical Institute (SCTI)Time: 8 am

Visit http://www.sarasotarealtors.com/about/event.cfm?eveID=307 for more information.

*Event names highlighted in yellow are events MFRMLS plans to attend and have a table.

Looking for a calendar of upcoming training classes?Visit http://www.mfrmls.com/resources/training-and-events for a complete

calendar of upcoming courses.

Did you know we also offer live webinars?http://www.mfrmls.com/resources/training-and-events/webinars/cat.listevents/2011/05/20/-


Help Desk Hours:

Monday–Friday: 7:30 AM–8:00 PMSaturday–Sunday: 8:00 AM–6:00 PM

Toll Free: (800) 686-7451Local: (407) 218-8607

http://www.mfrmls.com/member-support/help-desk

Address:

My Florida Regional MLS5032 Goddard Avenue

Orlando, FL 32804

Telephone:

Tel: (407) 218-8607Toll-Free: (800) 686-7451

Fax: (407) 293-6461

Administration and Membership Question?

The Administration Department at My Florida Regional MLS has two main re-

sponsibilities—ensuring an accurate MLS database and maintaining your member-

subscriber information.

Whether you have questions about our MLS Rules and Regulations, listing viola-

tions, subscriber fees or simply need to update your contact information, our

Administration Specialists are ready to assist you.

Department hours are Monday through Friday from 8:30 AM to 5:00 PM.

1-800-686-7451 (option #3)http://tinyurl.com/mfrmls-admin-

membership

October 2011 Issue Feature:

Going green.


MFRMLS Associations and BoardsShareholder Associations and BoardsBartow Board of REALTORS®— http://www.bartowboardofrealtors.com/index.html

East Polk County Association of REALTORS®— http://epcar.com/

Englewood Area Board of REALTORS®— http://www.englewoodareaboardofrealtors.com/

Greater Tampa Association of REALTORS®— http://www.gtar.org/

Lakeland Association of REALTORS®— http://www.lakelandrealtors.org/

Manatee Association of REALTORS®— http://www.manateerealtors.org/

Orlando Regional REALTOR® Association— http://www.orlrealtor.com/Main/Main.asp

Osceola County Association of REALTORS®— http://osceolarealtors.org/

Pinellas REALTOR® Organization— http://tampabayrealtor.com/

Punta Gorda-Port Charlotte-North Port Association of REALTORS®— http://pgpcnprealtors.com/

REALTORS® Association of Lake & Sumter Counties— http://www.ralsc.org/

Sarasota Association of REALTORS®— http://www.sarasotarealtors.com/

Venice Area Board of REALTORS®— http://www.vabr.org/

West Pasco Board of REALTORS®— http://www.wpbor.com/

West Volusia Association of REALTORS®— http://www.westvolusiarealtor.org/

Member-Subscriber Associations and BoardsDesoto County Board of REALTORS®— N/A

Lake Wales Association of REALTORS®— http://www.lwar.net/

“Like” us on Facebook!http://www.facebook.com/MyFloridaRegionalMLShttp://www.facebook.com/mfcrehttp://www.facebook.com/MyFloridaHomesMLS

Follow us on Twitter!@MFRMLS@MFCRE@MyFloridaHomes

Social MediaConverse with MFRMLS. Keep informed.

my florida resource - september 2011

Documents

southwest florida

property information

florida regional mlsseptember

mfrmlsmy florida regional

recap of florida realtors

payment resource

mfrmls members

real estate industry