Richard Dempsey Installed as President Elect of the Lakeland Association of Realtors®

Richard Dempsey, Sales Associate and Realtor® with Coldwell Banker Commercial Saunders Real Estate in Lakeland, was recently installed as president elect of the Lakeland Association of Realtors® (LAR) board of directors, serving for one year before taking the helm as president.

(download Saunders Real Estate press release here.)

Dempsey has served on the LAR board of directors since February 2007, as well as serving as LAR treasurer since April of this year.

Since joining Saunders Real Estate in January 2000, Dempsey specializes in large acreage tracts, citrus groves, and development properties. His real estate career began in 1984 as an appraiser for the Polk County Property Appraiser’s Office and thirteen years with an agricultural lender appraising a wide variety of properties. His experience includes small residential tracts to 25,000 acre groves, along with various types of commercial properties all over the state. Having sales and appraisal experience throughout Florida, Dempsey is knowledgeable about the diverse aspects of today’s real estate market. Dempsey is a Lakeland native.

For more information, please visit www.saundersrealestate.com!

Coldwell Banker Commercial Southeastern US Q3 Market Report

Here is your copy of the Southeastern US 3rd Quarter Coldwell Banker Commercial ViewPoint
Commercial Real Estate Market Report: Download Here.

Florida Notes:

Market Conditions Kill Ritz-Carlton Project in Tampa
Developers of Ritz-Carlton Tampa Bay blame market conditions and timing for placing the $420 million project on hold. The developers were apparently unable to obtain financing even though they planned to provide $90 million of their own money for the project.

Florida Real Estate Experts Staying Calm
Florida real estate experts are not panicking in response to the national economic crisis, according to a recent survey by the University of Florida. Florida’s housing crisis is worse than in other states, Archer said. But respondents to the survey think the state will benefit the same way it has in the past, by capitalizing on retirees. But the recent drops in the stock market and the tightening of credit will probably delay the plans of retiring baby boomers, Archer said.

The sale of Winter Garden Village, Winter Garden, FL
A 1.14 million SF regional shopping center, located in Winter Garden, FL has been sold.

110,600 SF Industrial Property in Orlando Under New Ownership
The 110,600 SF industrial property in Orlando has just come under new ownership, courtesy of Monmouth Real Estate Investment Corp.'s acquisition from FE Orlando Investment L.P

215,000 SF Coral Gables, FL Office Project Has First Space Commitment

Rockefeller Group Business Centers Inc. has become the first business to commit to space on the tenant roster at Ponce de Leon Towers, a 215,000 SF office project in Coral Gables, FL.

Southeast Commercial Market Notes:

Southeast Has Retail Edge - Region fairing better than the rest of the country.According to developers and brokers in the Southeast, retail development in this part of the country is handling the slumping development market with more tenacity than the rest of the United States.

Southeast OFFICE - Summary of Market

• Miami was ranked in the top five for the Southeast for Retail Vacancy and Rent Growth for this quarter.
• The number of Office transactions that occurred in the Southeast for this quarter continued its downward slope as well as transaction dollar volume.
• Out of the 359 Office transactions in the US for this quarter, only 83 (less than 25%) occurred in the Southeast.

Southeast APARTMENT - Summary of Market

• Columbia was ranked in the top five for the Southeast for Apartment Inventory and Rent Growth for this quarter.
• The number of Apartment transactions that occurred in the Southeast for this quarter continued its downward slope but transaction dollar volume remained flat.
• Out of the 77 Apartment transactions in the Southeast for this quarter, 33 (over 40%) occurred in Atlanta.

Southeast RETAIL - Summary of Market

• Baltimore was ranked in the top five for the Southeast for Retail Vacancy and Inventory Growth for this quarter.
• The number of Retail transactions that occurred in the Southeast for this quarter continued its downward slop, how-ever transaction dollar volume increased slightly.
• Out of the 272 Retail transactions in the US for this quarter, 56 (only 20%) occurred in the Southeast
  

5 Benefits to the Recipients of Florida Conservation Easements

A conservation easement is a voluntary legal agreement between a landowner and a government agency or qualified conservation organization that restricts specific uses or development on the land. This is a landowner’s way to protect his land for now and in the future. One of the significant benefits of a conservation easement is the protection of wildlife habitats, natural lands, and resources for generations to come.

The seller of a conservation easement is a landowner who desired to restrict development or land use through this option, but still holds on to ownership of the land.

The buyer or recipient of a conservation easement is typically a government conservation program or a private conservation organization. While the landowner seller has specific benefits that make a conservation easement desirable, the buyer or recipient too reaps benefits from this type of transaction.

• Five Benefits to Buyers or Recipients of Conservation Easements


• The buyer or recipient can protect more land resources with fewer dollars by buying rights to the land and not the land itself.


• The buyer or recipient obtains land by way of the conservation easement that might otherwise be unavailable (for example, the landowner isn’t selling the land outright, but is interested in a conservation easement).


• The land continues to provide economic activity.


• The land stays on the tax roll.

Conservation easements benefit all involved. The landowner controls the land, the conservation buyer or recipient is assured that the land will not be developed, and often, the public is the greatest benefactor through preserved recreation areas and enjoyment of natural lands.

For more information on conservation easements, land, commercial, industrial properties, and land and resource management, please visit http://www.saundersrealestate.com/ or call Dean Saunders at 1-877-518-LAND.

~Dean Saunders, ALC (Accredited Land Consultant), is considered in the industry as an expert on process of conservation easements, understanding the needs and processes of the government agencies involved. The company, Coldwell Banker Commercial Saunders Real Estate, is located in Lakeland, FL and offers real estate services for land, commercial, industrial and conservation properties, as well as land and resource management.

Tax Advantages for Landowners Who Sell a Florida Conservation Easement

This article may also be found in its entirety here:
CBCMarketConnect.com
LandThink.com
The pathway to conservation easements
is not always a straight linebut,
more often than not,
is worth the trip.
[Dean Saunders, ALC]

Most landowners are interested in tax advantages when considering a conservation easement. Landowners may receive income tax advantages that include gifting, tax deferred exchanges, and gains used against the basis value. Tax advantages can also assist in the transfer of property from generation to generation and can lower estate taxes for heirs by maintaining the agricultural classification of the land.

A Generational Transfer may benefit a landowner by lowering the value of the property for estate tax purposes. This happens because after the rights to develop it are sold, the highest and best use of the land is usually agricultural.

Gifting is a using the conservation easement as a donation to the government or to a qualified conservation organization. Gifting is treated as a charitable contribution and results in lower Federal income tax.

A Tax-deferred Exchange is an option allowed by the IRS for landowners who owe capital gains taxes because of the sale of property. This defers paying the tax by purchasing another piece of property instead of paying the tax. Known by several terms, a tax-deferred exchange is often referred to as a Like-kind Exchange or a 1031 Exchange.

The IRS allows a tax exchange for owners who have a capital gain because of the sale of a conservation easement. In my award-winning booklet, “We Create Solutions for Landowners: A Primer on Conservation Easements,” see case study #1 for an example of how this might work for you.

Gains Used Against Basis includes basis as the amount you paid for the property, plus the value of any capital improvements, less any depreciation claimed. If you sell a conservation easement, the IRS will allow you to reduce your basis by the amount of the conservation easement, which may result in you not paying any capital gains taxes. In my award-winning booklet, “We Create Solutions for Landowners: A Primer on Conservation Easements,” see case study #2 that uses this tax advantage.

To take advantage of a Federal income tax deduction, a conservation easement must be perpetual and given to a specific division of the government or a qualified conservation organization. Annually, the division or organization monitors the property to assure that the easement is not being violated.

For more information on conservation easements, land, commercial, and industrial properties; and land and resource management, please visit www.saundersrealestate.com or call Dean Saunders at 1-877-518-LAND.

~Dean Saunders, ALC (Accredited Land Consultant), is considered in the industry as an expert on process of conservation easements and understands the needs and processes of the government agencies involved. The company, Coldwell Banker Commercial Saunders Real Estate, is located in Lakeland, FL and offers real estate services for land, commercial, industrial and conservation properties, as well as land and resource management.

8 Benefits for Landowners Who Sell a Florida Conservation Easement

This article may also be found in its entirety here:

CBCMarketConnect.com
LandThink.com

The pathway to conservation easements

is not always a straight line but,

more often than not, is worth the trip.

[Dean Saunders, ALC]

A conservation easement is a viable solution for landowners who want to protect their land from development. Simply put, a conservation easement is a restriction on the use of property owned by an individual, similar to a deed restriction. It is recorded in public records and generally is in perpetuity. Landowners who sell conservation easements can control the ownership of the property, while receiving money for the easement. The government receives assurance that valuable land will be protected from future development.

What are the specific benefits to the landowner? Below is a list of eight of the general benefits for considering a conservation easement:

• The landowner maintains control and ownership of the property.
  
• Each conservation easement is individually structured to meet the needs of the landowner, along with the conservation criteria and can be structured broadly or specifically.
  
• The landowner keeps the land and receives payment for the appreciated value caused by development pressure.
  
• The landowner assures the property is protected for future generations.


• The landowner continues to receive income from his land.


• The property may be sold and the restriction travels with the property.


• Future generations are assisted in the transfer of the land by favorable estate tax treatment.


• Landowners may gain income tax advantages. Tax advantages can assist in the transfer of property from generation to generation and can lower estate taxes for heirs by maintaining the agricultural classification of the land.

For more information on conservation easements, land, commercial, industrial properties, and land and resource management, please visit http://www.saundersrealestate.com/ or call Dean Saunders at 1-877-518-LAND.

~Dean Saunders, ALC (Accredited Land Consultant), is considered in the industry as an expert on process of conservation easements, understanding the needs and processes of the government agencies involved. The company, Coldwell Banker Commercial Saunders Real Estate, is located in Lakeland, FL and offers real estate services for land, commercial, industrial and conservation properties, as well as land and resource management.

44 +/- Acres Sold to Rooms To Go for $3M by CBC Saunders Real Estate Will Bring Jobs to Florida's Polk County

Click to View Complimentary Articles:
GlobeSt.com
Tampa Bay Business Journal

Clay Taylor, Realtor® and Sales Associate with Coldwell Banker Commercial Saunders Real Estate (CBCSRE), closed a $3M deal for 44+/- acres of prime industrial land in Lakeland, Polk County, Florida that become a strategic location for Lakeland’s sixth largest employer*, Rooms To Go (RTG).
The tracts were sold in August 2008 with plans to expand the RTG warehouse footprint by over 700,000 SF. The approximately $16 million expansion for one of the nation's leading furniture distributors will be the largest warehouse in Polk County.

The two parcels of land come with a rich history of farming, cattle, and direct family ownership for the Tanner family for over 67 years, with extended family ownership since around 1906. Jerry Tanner remarks, “To sell long-held family land can be emotional and complicated but Saunders Real Estate more than met our expectations and far exceeded them in many instances. We are very pleased.”

The new warehouse will help the Polk County economy by bringing in construction jobs and permanent employment for this new facility.

*http://www.lakelandedc.com/MajorEmployers/toptenservices.html

Long-term Opportunity is Still in Florida's Real Estate

What we see today in Florida real estate is a market correction. We have experienced over-exuberant expectations in returns that have been fueled by inexperienced investors in the housing segment. This has created challenges in capital markets. As lenders overreact, less money is available for deals and we see that fewer deals happen. During this time, property values may decline while cap rates increase

Because people like to live and play in Florida, the state remains a preferred destination long-term. Even though the Florida real estate market generally trends up, right now we are experiencing a trough in the cycle.

$22 MIL Real Estate Deal Good for Polk County, Florida Economy

View Complimentary Articles:
Florida Real Estate Journal

Richard Dempsey, Realtor® and Sales Associate with Coldwell Banker Commercial Saunders Real Estate (CBCSRE), recently closed a transaction involving 1,042 acres of citrus grove land in Polk County for over $22.3 MIL. Sold by Highland Cassidy to an LLC registered in Delaware, the land consists of 30 tracts of working groves that are scattered logistically between Davenport and Lake Wales in eastern Polk County, FL.

“This is great news for the Polk County economy. We are seeing increased activity in land interest,” states Dempsey. “Serious buyers and investors are starting to be enthusiastic in this buyer’s market.”

In addition to Dempsey’s view on the Polk County real estate market, he offers that the land market is unquestionably active but that the buyers’ objectives have changed. Two years ago we found that short-term speculators were among the most active buyers. Today, buyers are more carefully taking the long-term view, recognizing that growth pressure from Tampa and Orlando will continue to deplete the inventory of land available for development. Investors that are working their plan for the long-term are the ones that can benefit from what is happening right now. Coldwell Banker Commercial Saunders Real Estate (CBCSRE) agents are seeing increasing activity in large land tracts. For 2008 in August, closings amount to just over $61 MIL.

Since joining Saunders Real Estate in January 2000, Dempsey has sold over $120 million in properties, specializing in large acreage tracts, citrus groves, and development properties. Dempsey currently serves as a board member, Treasurer, and CID (Commercial Industrial Division) committee member for the Lakeland Association of Realtors®.

Florida Conservation Easements: the Essence of Landowner’s Property Rights

This article may also be found here:
CBCMarketConnect.com

LandThink.com
~~~~

The pathway to conservation easements
is not always a straight line
but, more often than not,
is worth the trip.
[Dean Saunders, ALC]

Conservation easements are powerful, effective tools available to landowners for the permanent conservation of private lands in the United States. The use of conservation easement options has successfully protected millions of acres of wildlife habitat and open space, keeping land in private hands and generating significant public benefits.

The primary purpose of a conservation easement is to give a landowner the right to protect his land from certain types of development or land use.

This opportunity appeals to property owners who hold undeveloped land that is agricultural and/or has timberland, wildlife habitats, natural open space, and those with natural resources. Simply, a conservation easement is a restriction on the use of property similar to a deed restriction. It is recorded in public records and generally is in perpetuity. The government receives assurance that this valuable land will be protected from future development.

When you purchase land, you also purchase a bundle of rights. These rights include, among others, the right to develop, and the right to minerals and water. Collectively this bundle of rights is called “fee title.”

As a landowner, you also have the ability to sell some of these rights while maintaining ownership to the land. This is generally known as selling a “less-than-fee” interest. A conservation easement is a form of “less-than fee” interest and is a voluntary agreement that allows a landowner to limit the type or amount of development on their property while retaining private ownership of the land.

When you choose to give up some of these rights, by either donation or sale, you are compensated. The more rights you relinquish to the recipient, the more compensation you’ll receive, by either tax benefits or direct dollars, or both.

As a Florida native, born and raised in Central Florida, I have a strong heritage that appreciates the “old Florida” lands with their natural beauty and habitats. With progress and development of the past years comes the destruction of these lands in favor of buildings, roads, homes, and communities. Progress is needed to support our communities; however, today we find too few acres of “old Florida” and too few habitats for Florida’s unique wildlife.

My life’s work, first in the Florida legislature and now in real estate, has been closely tied to conserving Florida’s landscape through work in the legislative process and guidance to landowners for conserving their land. One opportunity we consider is a conservation easement. A conservation easement is recommended to my real estate clients when the property is right, meets qualifications, and the landowner desires a way to keep the property from major development.

As a member of the Florida Legislature from 1992 to 1996, I led the establishment of the Green Swamp Land Authority that resulted in the first Florida state agency ever created to purchase development rights from landowners. This work was instrumental in the passing of the law requiring Florida state agencies to purchase a specific number of conservation easements each year. Today, not only is the number of conservation easements being bought by the federal, state, and local governments growing, but also we see a demand from private conservation organizations.

Florida tourism and population boom have made land more valuable than ever. Some landowners would like to profit from the increased value, as well as preserve the beauty and function of their land. Others want their land to stay in the family, but worry that estate taxes will force their heirs to sell.

While many conservation easements are donated, others are also sold. If your land qualifies as a conservation easement, it is worth your time to research how this can benefit you and your family for generations to come.

For more information on conservation easements; land, commercial, and industrial properties; and land and resource management, please visit http://www.saundersrealestate.com/ or call Dean Saunders at 1-877-518-LAND.

~Dean Saunders, ALC (Accredited Land Consultant), is a leader in conservation who understands the needs and processes of government agencies and private conservation organizations. The company, Coldwell Banker Commercial Saunders Real Estate, is located in Lakeland, FL and offers real estate services for land, commercial, industrial and conservation properties, as well as land and resource management.

All You Need to Know About Florida Conservation Easements

And Then Some.............

Welcome the second publishing of the award-winning booklet, We Create Solutions for Landowners: A Primer on Conservation Easements!

The update and additional information on conservation easements is now available to you to guide you when considering the selling of your land. It is a “must read” for anyone who would consider a conservation easement as an option.

Originally published in 2002, the booklet offers a wealth of information and advice on one of real estate’s most specialty options – the conservation easement. It was created to provide insight and answers to questions about conservation easements, property rights, and landowner rights - simply stated and easy to understand.

As a former Florida legislator who assisted in creating and passing important conservation legislation, I worked to further property rights of landowners, and served with Florida US Senator, then Florida Governor, Lawton Chiles. You may download your complementary copy of this booklet here.

~Dean

Central Florida Economy Growing

The 4th Annual Florida Real Estate Land Conference
Economists Agree: Cautions Short-term Outlook; Positive Long-term Outlook

The convening of the 4th Annual Florida Real Estate Land Conference hosted exclusively by Dean Saunders, Coldwell Banker Commercial Saunders Real Estate (CBCSRE) in Lakeland, FL, was an exercise in poking through and around the perceived woes and economics of real estate, both in the nation and in Florida today.

This year’s presentation proved to be a judicious and hopeful glimpse into the economy that fuels real estate decisions for Florida and for Polk County.

Economic forecasts were presented by influential economists and a legislative lobbyist. This year’s conference included respected authorities Dr. Sam Chandan, Chief Economist and Senior Vice President, REIS, New York, NY; Dr. Sean Snaith, Director of the Institute for Economic Competitiveness/University of Central Florida, Orlando, FL; and Wade Hopping, Former Florida Justice Supreme Court, Attorney, Land Use and Environmental Law, Hopping Green & Sams, Tallahassee, FL.

Priming the audience for the well-anticipated economic news was Dean Saunders, ALC, owner of Coldwell Banker Commercial Saunders Real Estate, and host/sponsor of the annual event.

Opening remarks by Saunders observes, “We see less real estate activity due to the lack of consumer confidence but it is different from other recessions. There is money to be invested, however, buyers are not sure where the bottom is and are cautious. We’ve also lost the activity of two major markets: large tract development and the investor/speculator, which brings to us a soft market.”

Wade Hopping, former Justice Florida Supreme Court, is a legislative attorney working in the Tallahassee legislative process since 1958 and who focuses on land use and environmental law. Hopping’s overview of the legislative year included the sub-prime debacle, “irrational exuberance” in the real estate markets, insurance availability and rate problems run up in Ad Valorem taxes, foreclosures by the hundreds, gasoline price increases, and national economic woes all conspired to reduce Florida’s 2008-2009 budget by $6 billion compared to the state’s $72 billion budget two years ago. The state budget reductions have impacted all state activities including schools, State employees, healthcare recipients, everglades restoration, university funding, and community college funding.

Hopping’s advice for property owners: “With the housing and real property markets suffering economic woe, it is important that those who own property become active in Florida's legislative process. Bad market conditions are good times for local government officials, legislators, and regulators to examine the project review process and eliminate unnecessary bureaucracy."

Dr. Sean Snaith, Director of the Institute for Economic Competitiveness at the University of Central Florida states that, “The short term malaise in real estate and the credit industry is a bump on road compared to the longer trends for demographics and economics that shine a favorable light on Central Florida. Lakeland is in a good position, given the central metro area and the rise in prices in coastal areas that align Polk County for growth.”

Snaith suggests strong trends showing demographic migration from the once popular coastal regions to the interior of the state. Due to the rising costs of real estate, property insurance, and basic cost of living on Florida’s coasts, the fastest growth will be in the interior of the state.

Dr. Sam Chandan, Chief Economist of REIS, concluded the event with an historical and a current view of the nation’s economy as a whole. “July 2007 saw US equities markets at their peak; an all-time high following the years of the housing and consumption boom. Now in 2008, corporate profits are down, equities markets have fallen from their peaks, and we find more houses than households and slower consumer spending growth. We will need to bear with a further tightening of credit markets and a protracted period of slower consumer spending growth.” The next couple of years will be challenging; however, Chandan encourages confidence in the long-term resilience and flexibility of the US economy."

Closing comments by Saunders summarizes, “There is a slowing of activity and softening of pricing, but ultimately, pricing will come to reflect economic-based expectations. Even in this market, we fully expect to have more closings this year than last year.”

Dean Saunders, ALC, is a Licensed Real Estate Broker and owner of Coldwell Banker Commercial Saunders Real Estate. Since 1996, Saunders has provided professional land and commercial real estate services. Winning many national and regional awards, the former Florida legislator is considered an expert on land and conservation and is quoted in many real estate and business publications. For more information on the company and on Dean Saunders, please visit http://www.saundersrealestate.com/.