E-Newsletter August 2018
In This Issue
Welcome to our e-newsletter "The Real Estate Corner." This newsletter is sent out the first week of every month. We wanted to provide a newsletter that provides current information on the real estate market, economy, tax tips, and more! In addition, there are some fun things like golf tips, and recipes for your enjoyment. I hope you find these to be useful. If you wish not to receive this newsletter in the future, you can unsubscribe at the bottom. Enjoy!

Is My Broker/Agent a "Transactional" or "Single" Broker/Agent?

Let me start by telling you prior to being a real estate professional, in purchasing and selling nine homes over the past twenty years here on the gulf coast, not once did any of the realtors disclose during our real estate transactions with them that they were acting as a "transactional" or "single broker/agent." It is presumed in the State of Florida, all licensees are operating as "transaction brokers/agents unless a single agent or no brokerage relationship is established, in writing, with a customer. It is important to ask your agent before you sign on the dotted line to list or purchase a home.

A transaction broker/agent provides a limited form of representation to a buyer, a seller, or both in a real estate transaction but does not represent either in a "fiduciary capacity" or as a single agent. The duties of the agent in this limited form of representation include the following:

(a)   Dealing honestly and fairly;
(b)  Accounting for all funds:
(c)   Using skill, care, and diligence in the transaction:
(d)  Disclosing all know material facts that materially affect the value of residential real property and are not readily observable to the buyer;
(e)   Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing;
(f)    Limited confidentiality, unless waived in writing by party;
(g)   Any additional duties that are mutually agreed to with a party;

A single broker/agent, provides a "fiduciary relationship" which includes all duties listed above as a transactional licensee, as well as the following additional responsibilities:

(1) Dealing honest and fairly;
(2) Loyalty
(3) Confidentiality
(4) Obedience
(5) Full disclosure
(6) Accounting for all funds;
(7) Using skill, care, and diligence in the transaction;
(8) Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee in writing;
(9) Disclosing all know material facts that could affect the value of the residential property and are not readily observable.

Although there are similarities to the duties performed, loyalty, confidentiality, obedience, and full disclosure are not a part of a transactional broker/agent's duties. If a broker/agent are representing you as a single agent, Florida laws requires a signed, separate, and distinct disclosure document. The disclosure must be presented before, or at the time of, entering into a listing agreement, or an agreement for representation, or before the showing of property, whichever occurs first.
A licensee who is representing you as in single agent relationship may need to change from a single agent, to a transactional brokerage agent in order for a licensee to assist both buyer and seller in a transaction. (Example; you are the buyer purchasing a home that is listed with the same brokerage firm). This would change the relationship to a limited form of representation for both buyer and seller. This change must be disclosed and put in writing.
River Strand Community July Updates

In the month of July, 6 properties were sold in River Strand community ranging from $155,000- $290,000. Currently there are a total of 29 available including single family homes, coach homes, villas, and condominiums available to purchase from $169,000 to $889,000 . If you, or you know of someone who is looking to sell, buy, or invest into real estate in the near future, please contact us at Keller Williams On The Water at 941.416.4095. We appreciate the opportunity to assist you, your family, or friends with all your real estate needs!

If you, or you know of someone who is looking to sell, buy, or invest into real estate in the near future, please contact us at Keller Williams On The Water at 941.416.4095. We appreciate the opportunity to assist you, your family, or friends with all your real estate needs!

Notes: All index returns (except S&P 500) exclude reinvested dividends, and the 5-year and 10-year returns are annualized. The total returns for the S&P 500 assume reinvestment of dividends on the last day of the month. This may account for differences between the index returns published on  Morningstar.com and the index returns published elsewhere. International performance is represented by the MSCI EAFE Index. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly .

"Let no feeling of discouragement prey upon you,
and in the end you are sure to succeed."
- Abraham Lincoln

Corn Wheels with Hot Honey Butter
Serves 6

  • Kosher salt
  • 6 ears of corn, shucked
  • ½ cup unsalted butter, softened
  • 2 teaspoon honey
  • 1 tablespoon habañero hot sauce
  • Flaky sea salt, for serving
  1. Boil salted water in a large pot. Cut the corncobs into 3-4 pieces each. Put the corn in the pot and let simmer until tender, 3-4 minutes.
  2. At the same time, mix butter, honey, hot sauce, and ½ teaspoon kosher salt in a medium bowl. Place half of the mix in a large bowl and the other half in a serving dish.
  3. Put the corn, after it is drained, in the large bowl with the butter mix. Shake slightly to coat the corn. 
  4. Put the corn on a platter and dash with flaky salt. Lightly add hot sauce. Serve the corn with the rest of the butter mixture. 
Recipe adapted from Good Housekeeping [13]


Scammers Don't Take Summer Vacations *

While many of us may be enjoying the summer with vacations and outdoor activities, cyber thieves are busy trying to steal our identities and personal data.

Although it's been more than three months since the end of the 2017 tax filing season, scammers are coming up with new ploys, such as phishing emails and telephone scams.

The IRS offers several ways to help spot red flags to safeguard your personal information:
  • The agency does not send pre-recorded messages requesting urgent callbacks. One scam involves warnings that authorities will issue arrest warrants if people don't respond to calls. Variations include threats of deportation. The IRS doesn't threaten people with arrest for not paying taxes.
  • Scammers create fake caller IDs to appear as if the call is originating from anywhere in the country, including from an IRS office. You may call the IRS for information by going to https://www.irs.gov/help/telephone-assistance.
  • Taxpayers may report unsolicited email to phishing@irs.gov. Some people may receive emails from programs linked to the IRS, such as from the Electronic Federal Tax Payment System. Those emails should also be reported to phishing@irs.gov. 
  • The IRS doesn't contact taxpayers by email to get personal or financial information. The agency uses the U.S. Postal Service to make initial contacts.
The IRS will call or visit taxpayers at their homes or businesses only on special occasions, which may include overdue tax bills or obtaining delinquent tax payments.  

Other details may apply, and you can find more information on the IRS website.

This information is not intended to be a substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax advisor .

Tip adapted from IRS.gov [14]
Hit a Draw in 5 Minutes

Many golfers, coaches say, can't help hitting those irritating slices, those sometimes wayward, left-to-right shots (for right-handed players). Most players would prefer to hit draws (right to left), the shots over which they have more control. Slices are unpredictable.

With a few simple adjustments to your swing, golf coaches say you can easily change slices into draws.  

The hands: First, take a stronger grip on your club. Second, place the club handle in the base of your fingers and not angled in your palm. Gripping the handle in the fingers enables you to retain more control of your swing.  

The path: To develop draws and to avoid slices, focus on your backswing. Players who hit slices often have clubfaces facing down at the height of the backswing. To hit a draw, make sure your clubface is pointing skyward and your arms are behind you. Slicers generally hold the club in the backswing in front of their bodies.

The finish: End your swing on the toes of your trail foot. Finish the swing with your chest facing the target.

Tip adapted from GolfDigest[15]
Close the Door Campaign to Keep It Cool

The national campaign Keep It Cool urges consumers to help persuade retailers to close their physical doors during hot summer days to help preserve energy.

Campaign organizers ask participants to use Facebook Messenger to drop pins on businesses that keep doors open or closed to help consumers make better environmental choices.

"Our Keep it Cool campaign empowers consumers to anonymously have an impact on wasteful behaviors in their own neighborhoods," said Nate McFarland, Generation 180's communications director. (Visit the nonprofit organization at https://www.generation180.org/.)

"It gives retailers the opportunity to do the right thing and showcase their green values. This is good for business, the community, and the environment."

Organizations like Generation 180 say businesses that leave doors open to attract customers raise product costs, waste energy, and increase pollution.

Tips adapted from EarthShare[17 ]
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