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Coffee Talk (Sara/Mana edition)
Ethnic study finds home-buying differences
The Real Estate Center at Texas A&M University, the nation's largest publicly funded real estate research organization, recently completed a study with Harris Interactive on the desires and needs of four different racial groups (Hispanics, Whites, Blacks and Asians) in regards to the home buying process. The study consisted of 4,080 adults. The sharpest disparities appeared in the largest minority group in the nation - Hispanics.
× Hispanics were more likely than any other group to think various aspects of the home-buying experience are difficult.
× Asians are more likely to own new homes, and they owned the highest-value homes of the four groups.
× Hispanics and Blacks were less willing to pay more than their current rent to buy a home, while White's were the most willing ethnic group to pay significantly more.
× Nearly half of the Hispanics studied didn't think real estate agents took the time to understand their needs, and they are least likely to think agents earn their fees by providing valuable services. The study's authors theorized that it was likely due to the language barrier.
× Hispanics were the only group to consult a family member before consulting an agent for real estate advice.
× Blacks and Asians have been the most likely to successfully negotiate agent fees.
× Hispanics demonstrated a preference for agents, who could relate to them, namely in language and ethnic background.
Discount Auto Parts advances
Get ready for a significant uptick in the number of Advance Discount Auto Parts stores. Roanoke, Va.-based Advance Auto Parts is integrating 10 former Discount Auto Parts stores in Sarasota and Manatee counties and re-branding the stores as Advance Discount Auto Parts. Throughout Florida, Advance Auto Parts is integrating more than 400 stores it acquired from the Discount Auto Parts chain in November of 2001. Stores affected in Sarasota are at 2035 N. Washington Blvd.; 5709 Beneva Rd.; 2890 Bee Ridge Road; and 5060 Fruitville Road. In Bradenton, the affected stores are located at 910 1st St., W.; 5014 14th St., W.; 4955 Cortez Rd., W.; 3103 53rd Ave., E.; and 6410 15th St., E. The sole Palmetto store undergoing the rebranding is located at 830 W. 10th St.
The company adapted the Discount Auto Parts name because of the existing customer base and its strong brand recognition. The stores utilize the company's newest design that provides layouts based on extensive consumer research and shopping preferences. The focus is on a more interactive floor plan.
Advance Auto Parts officials say they are also adapting the stores in certain markets, to attract the Latino population.
Tougher billing, higher deposits planned for Sarasota?
The city of Sarasota's recent audit of its billable fee system and development process found the city was losing about $350,000 a year due to inadequate employee tracking. So far the audit has provoked serious talk of changing certain review charges from hourly fees to a flat fee similar to Sarasota County. But the audit also exposed a couple of other areas, where city officials are likely to make some operational changes.
The audit discovered there were 84 development applications with a balance other than zero:
× Fifty-five had balances due to the city totaling about $41,000. Of those, 24 had balances older than the 2003-2004 billing period.
× Twenty-nine applications had balances due to the applicant totaling about $9,000.
Contractors can also anticipate seeing larger initial deposit costs, because of the significant number of cases where deposits did not cover final costs.
Application whereApplications% of time initial
costs exceeded filed indeposit did not
Application Type initial deposit2003cover costs
Administration Site Plan11100%
Rezone131968%
Rezone Ordinance Amendment2367%
Street Vacation4667%
Conditional Use3560%
Off-Site Parking Agreement1250%
Site Plan144233%
Sidewalk Cafe1425%
Variance4449%
Tooting our horn
GCBR's own real estate editor Sean Roth won two awards in the National Association of Real Estate Editors' 53rd Annual Journalism Awards. Roth won the Best Newspaper Report (Less Than 200,000 Circulation) and the James D. Carper Award for Best Entry by a Young Journalist. Roth submitted GCBR's Oct. 10-16, 2003 cover story Land Grab, which reported on Charlotte County's planned Murdock Village redevelopment/eminent domain condemnation plans for about 1,100 acres in Port Charlotte. Winners were selected by a panel of judges from the E.W. Scripps School of Journalism at Ohio University.
Judge comments on Roth's story entry included, "This is an excellent example of explanatory and analytical journalism which looks at a controversy involving eminent domain on behalf of public interests vs. individual property rights. The reporter clearly presented, in a well organized and reported story, the conflict, the history, and the reasoning by both sides of this dispute, giving the reader an understandable explanation of this complex issue." and "He produced an unusually strong effort ... he writes well and has a good grasp of large and complex issues facing the real estate industry. He demonstrates reporting instincts and abilities that go well beyond single industry issues."
Etc...
× Sarasota-based Central European Distribution Corp. was the only locally based company to make BusinessWeek's list of the 100 Best Small Companies nationwide. The company, which imports beer, wine and spirits to Poland, was listed 14th behind a Teaneck, N.J.-based business outsourcing and consulting company, Cognizant Technology Solutions.
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