Southwest Florida Living

Even as the economic conditions appear to be stabilizing,the rate of borrowers defaulting on their mortgages goes unchanged. These unprecedented times have resulted in a diverse group of people working together to devise solutions. One of the main obstacles to dealing with homeowners facing foreclosure has been a lack of standard process and the uncertain timeframes.

The Federal government is leading the way in defining guidelines via the Making Home Affordable program. These guidelines apply to  non-GSE (Government Sponsored Engerprise)-backed mortgages  and allow for participation by the servicers of non-GSE-backed mortgages.

Almost a year ago, the Treasury Department Supplemental Directive 09-01 defined the eligibility, underwriting and servicing requirements for the Home Affordable Modification Program (HAMP). While this beginning had high expectations, the reality is that very few mortgage modifications have been successful. As many of the decisionmakers have grown to better understand the enormity of the problems, government guidance has progressed to a more recent directive 09-09 that is known as Home Affordable Foreclosure Alternatives (HAFA) program. This directive provides guidelines, process and time frames for mortgage servicers so we can become much more efficient in dealing with what I feel is the most viable solution to foreclosure: short sales.

One of the sticking points to successfully completing a short sale has been the existence of secondary lien holders. Secondary lien holders stand to have their interest in a property wiped out should a property complete the foreclosure process. Still it is not uncommon for the secondary lienholder to refuse to allow a short sale to complete without some payment in lieu of the debt owed. The latest guidelines recognize this impediment and provides for financial incentives to work out with the secondary lien holder.

Property condition is always a concern in distressed property situations. The latest guideline includes financial incentives to have the borrower turn the property over to the servicer in good shape and with clear title.

These guidelines are even dealing with the issue of the unsatisfied debt. Participants in this government program are waiving their right to collect additional sums after the property sale. So there will be no cash contribution or promissory note from the borrower.

Perhaps the most enlightened component of 09-09 is the attempt to place time frames for servicer response to a short sale application.

I think things are slowly moving in the right direction. The government and lenders are recognizing that process and time frames are key to the resolution of the current foreclosure environment.  It has taken time to begin to pull together the trained staff and organizational infrastructure necessary to deal with the immense proportions that define the current mortgage environment.

On our part it is more than a full-time job just keeping up with the changes in the distressed property environment. We take this challenge seriously and put in the time. The presence of distressed property and the families affected will be with us for some time to come.  There is no quick fix on the horizon.  As full-time Realtors and advanced members of the Certified Distressed Property Expert (CDPE) organization, we strive to stay current with industry and market trends. We also see it as a moral obligation to promulgate this information so that the general public can make informed real estate decisions.

I thought I’d share some of my opinions about the future direction of real estate in our area and some of the influences that will have an effect on that direction. As everyone knows there have been recent declines in property values. In many locations the finished product, an existing house, can sell for less than the costs of the materials and labor needed to recreate the property, while other areas have seen much less drastic declines. In recent months the activity in the market place indicates a return to a more normalized local housing market. Unless we have some unknown additional shock to the system, this more balanced real estate market should be the new paradigm for the next several quarters.

Besides easy money, one of the drivers for development in the area was the belief that the baby boomers would come to states like Florida in droves. Years of population growth seemed to support that belief, until you looked at the numbers. Only about 15% of the recent population explosion state wide was in fact retirees. The bulk of the population growth was construction related job growth.  Even as those working aged new residents left the state, the population of Florida remains stable. So if we assume that there is some truth to the opinion that the state population will grow as a result of an expanding retiree population, augmented by business and job growth needed to support a growing retiree population, it would be a reasonable assumption that the over built conditions will soon be behind us. Add to the retiree population assumption any expansion of business and jobs and it’s possible to see this area growing again in the near future.

While some will argue any possibility of future growth in the area, here are a few thoughts. The population of the US is still growing organically as well as through immigration. The area has an improving school system, and an ever expanding college and university presence. In other words the work force may become one that attracts business.  In addition the state has made considerable steps to preserve the natural environment, as an example Sarasota bay has received notice because of the improving water conditions in the Bay. Not to mention that Sarasota area has earned a level of note in the area of the performing arts.  This is a maturing area, becoming more well rounded.

It’s the form of the growth that tends to capture my imagination.  I lived through the rapid growth in Collier County, where gated golf course communities sprang up, and only a few roads allowed for a north to south traffic flow. The congestion that resulted is one of the main reasons I no longer live in Naples.

I see a convergence of influences that may allow this area to avoid growth without planning. Sarasota County is already looking at sustainability issues, and with the recent spike in energy prices, the federal government is looking to influence the direction of growth. Today communities all across the county are looking at changing the way growth happens.  Governments are updating building codes to reduce energy consumption, and to provide developers incentives to design energy efficient neighborhoods.

Future planning in our area is attempting to limit growth to the area west of 75, to the area where the infrastructure currently exists. To be successful planners will need to analyze the viability of many of the existing neighborhoods, and find ways of providing incentives for private capital to re-invent these neighborhoods. The paradigm for the future will be smart neighborhoods, places where people live, work, shop, and recreate in one area. We here on the Island are fortunate since John Nolan designed this city to be much in line with the thinking of the new urbanism concepts that are guiding the planners of today.

The energy bill that was passed by the house some months back will change the landscape should it become law in anything like its current form. There is a section addressing the “State Enforcement of Energy Efficiency Building Codes”. The federal law will have states adopting and enforcing new building codes for more energy efficient commercial and residential construction. Not only will we have new energy standards on new construction we will see incentives for energy efficient remodels of existing homes.

The energy bill has a section referred to as the ‘Green Resources for Energy Efficient Neighborhoods Act of 2009’. As a result of this section of the proposed law some mortgages and underwriting standards will reflect the added value of energy efficient property as well as energy efficient locations.  

Whether this bill becomes law or not I think is immaterial to the issue, higher energy costs will have a significant impact on peoples real estate purchase decisions. Urban real estate will have a draw over suburban real estate as people look to save on commuting costs. The energy efficiency of a home will be more of a concern to the home buyer.

While many people are very attracted to new communities and new home designs, the current low cost of existing homes will drive many to buy existing homes and remodel. Builders and developers will look to develop infill lots, and augment their business with remodeling projects.  Here on the Island we will see a wave of homes being razed and new homes being built. The existing walkable neighborhood near the beach is currently a powerful draw, and with the promulgation of energy efficient neighborhood concepts our neighborhood will be desirable for some time.

Real Estate Trends - The Short Sale

The Short Sale is a relatively new phenomenon that we have dealing with over the past two years, The Short Sale t is occurring as borrowers find themselves owing more than their property is worth in today’s market and for many different reasons are attempting to sell their property into a down housing market. In past housing down turns when a property owner attempted to sell and was unable to cover the amount owed with the proceeds of the sale, the property owner made up the difference. In this housing down turn the lenders find themselves in the position of allowing the borrower to sell the property for less than what is owed on the promissory note and not bring a check to closing to make up the difference.  A short sale is not a panacea for property owners that find themselves underwater. From the lender’s point of view it is not good business to accept less than what is owed, so lenders will work hard to recover as much money as possible. If the property owner has assets, the lender will want the property owner to use their assets to make up the some or all of the difference. While a Short Sale is not a great option for the lender it is potentially the best alternative available.

Whether a property is lost to the owner through foreclosure, short sale, or through the owner handing over the keys as a deed in lieu of foreclosure, the lender still has the ability to seek a deficiency judgment. The deficiency judgment allows the lender to attempt to recover the difference between what was recovered through the sale of the property and what was owed on the promissory note. I mention the deficiency judgment early in this discussion of the short sale because many are under the impression that once the property is sold the obligation is forgiven. Early on most banks required that the borrower sign another promissory note for the deficiency in order to conclude the short sale transaction. Today this requirement is uncommon. Following the sale of the property the lender still has the right in many states to file for a deficiency judgment.

If the deficiency is forgiven, then from a tax standpoint the amount forgiven can be considered income. When the dept is forgiven the lender will issue a 1099 for the amount of debt relief. The Mortgage Relief act of 2007 allows the taxpayer to exclude this debt relief on their primary residence. The Mortgage Relief act of 2007 is set to expire the end of 2009. So if you need to sell you primary residence for less than you owe, and the lender forgives the debt, you will not also have the burden of needing to pay taxes on the amount of the deficiency. If the property is not your primary residence then the debt relief may be taxed as income. In either case consulting a CPA is a wise step.

To begin the process of a short sale you need to contact your lender and speak to someone in the loss mitigation department. At this stage in the cycle, most lenders have established paper work requirements, and you will need to obtain and complete the required forms. In general the lender’s requirements will include the following:

• A letter of authorization - this authorizes your realtor, or short sale negotiator to speak with the lender about the sale of the property. This is not required if you plan to negotiate with your lender on your own.

• A letter of hardship – this is your statement explaining what has occurred in your life that has placed you in a position that you need to sell your property for a loss. Be truthful, and tell your story.

• A broker’s price opinion – this is where your realtor/broker completes an evaluation of where your property will sell in today’s market. The lender will probably have one or more opinions completed from other brokers in the area, but this provides them a base line.

• A preliminary HUD-1 settlement statement– this will show the estimate of proceeds that the lender can expect when the sale closes.

• Documentation supporting your hardship claim – these are documents like notice of termination, hospital bills, judgments or liens, bankruptcy filings, anything that supports the position that your financial situation changed and you must sell in order to avoid defaulting on your loan and potentially declaring for bankruptcy.

• Form 1003 – the uniform residential loan application form. While you’re not applying for a loan this is a form that lenders are familiar with and will list your debts and your assets. Remember that in order to obtain the loan on your property you applied for credit and were approved; the lender will be looking to see what has changed.

• Copies of your tax returns for the past two years.

• Copies of your bank statements for at least the past 2 months.

• Copies of any brokerage accounts.

• Copies of any retirement accounts.

• A copy of your listing agreement.

• A copy of your sales contract.

While this is a lot of documentation, missing or incomplete documentation can have the result of having your request being ignored. It’s the opinion of many that the paperwork be submitted when you begin to market your home for sale and again once you have an offer to purchase the property. Although most lenders will do little with your request unless it’s accompanied with the offer to purchase, submitting the paperwork will inform the lender that you are serious about negotiating a settlement of your debt.  The thought process is to begin the negotiation as early as possible. Some buyers have heard horror stories about short sales and will back out if the process is perceived to be taking too long. This has the effect of taking your property off the market for an extended period of time. Filing the paperwork early and again with the offer can help to expedite the lenders response. Each lender is different, but the reason for much of the delay in making the decision to approve the short sale is that most loss mitigation departments are understaffed. Other issues that complicate successful conclusion of Short Sale negotiations are multiple lean holders, or if the mortgage is owned as a security by outside investors.

Buying a short sale takes patience. The bank will not turn around a decision quickly. Looking for short sales where the owner or their representative has negotiated a ball park sale price will shorten the waiting time, but you can still wait several weeks to hear a response. Making an offer near or at the negotiated sale price will help in having a positive outcome.

It makes sense to do a little bit of homework when looking to make an offer, public records can be searched on the internet today. Taking the time to review recorded liens and mortgage documentation can keep you from making an offer on a property that will take too much time working through the issues. Lenders in a second position can lose everything on a foreclosure, and frequently look to get some amount of remuneration to sign off on the short sale for their cooperation.  When facing the prospect of losing everything the lender(s) in secondary position can hold up the short sale indefinitely.  

So why do a short sale? As a seller if you can successfully negotiate a short sale of your home while still maintaining your monthly payments, well maybe you can save your credit. While the hit for a short sale will appear on your credit report it’s not as bad as months of late payments prior to the lender filing a notice of foreclosure. If you start working with the lender as early as possible you may also negotiate a payment modification while attempting to sell the property. The lender does not want to foreclose; they don’t want your house. If you maintain the property for sale and find a buyer, a short sale can be a win win for you and the lender. As a buyer a short sale can give you an opportunity to find a property at or below the true market value. The short sale property is often comparable to the typical resale home but at a better price. 

This past weekend, our friend Chris (who along with hubby Dan is relocating to Englewood FL) and I went to the Centennial Park Art & Craft Fair. While I’ve gone to the big annual Art Fest and some of the smaller fairs held on Venice and Miami Avenues throughout the year, this was the first fair I’d gone to at Centennial. The weekly farmer’s market now includes crafts but is on a much smaller scale than this fair. Centennial Park provided a nice venue, with its curvilinear design and the shade provided by the canopy of live oaks and other trees.

There were about 50 vendors in attendance, with plenty of jewelry,

pottery,

           ”Day & Night”            

scented oils and soaps, and art using various media available. There were even a few vendors offering orchids and other air plants as well as desert roses.

There was a good turnout, and as always at public events, it was fun to people watch. And, in Florida, we sometimes enjoy critter watching, like this pet iguana.

Here are some more photos. Enjoy!

Ganoderma zonatum or ganoderma butt rot is a fungal disease that attacks palm trees. This species of Ganoderma kills mature palms by attacking the lower 4 to 5 feet of woody trunk.  All palms in Florida are potential hosts for this fatal disease.

The genus Ganoderma is a group of wood decaying fungi; ganoderma zonatum is the only species of this fungus group that attacks palms. Once infected by ganoderma zonatum, the palm will die – there is no cure. There is no known chemical or cultural technique to prevent a palm from becoming infected. Healthy as well as stressed palms can be infected.

Once a palm is infected, the only known treatment is the complete removal of the palm from the landscape. The entire plant needs to be removed including as much of the root system as possible. The lower 5 feet of the palm needs to be burned or taken to the landfill. The root system should not be chipped by stump-grinding equipment.

The fungus will remain in the soil for some undetermined time period, so placing another palm in the same location is not recommend as the replacement palm will most likely succumb to the disease.

The symptoms shown by a palm infected by ganoderma zonatum will be a general decline. A palm with this disease will have green fronds hanging limp, or fronds that prematurely turn brown. The palm may only have a green center spike while all the other fronds are hanging down.  Other than the decline of the palm there may be no outward side of the infection.

The fungus spreads by spores and an advanced infection may have a button shaped fungus or shelf-like growth on the lower trunk (see photo). Once this evidence is seen the palm is technically dead and the spores are released spreading the infection to other neighboring palms.

This disease can spread through entire neighborhoods. To combat the spread, neighbors need to be vigilant and inspect palms regularly. The negative effects of this disease is not just the premature death of palms but also the property damage potential that can occur when the palm that has its lower wood weakened by the disease becomes a projectile during a wind storm. For more complete information on this palm disease go to the University of Florida’s EDIS website, the URL is http://edis.ifas.ufl.edu/PP100.

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In order to resolve the foreclosure crisis in this country, we need to spend less time addressing the symptoms and more time understanding and addressing the root causes. The primary symptom that is being addressed is the amount of non-performing assets on the books of banks and investors:  you know, the so-called toxic mortgage assets. They are toxic because it’s not possible to apply a value to the mortgage assets because there is no market for the underlying real estate assets. Without a market there is no way to place a value on housing assets. The Federal government is loaning hundreds of billions of dollars to banks to shore up their balance sheets.  While the resulting consequence of non-performing loans is underwriting standards have tightened, and lending levels are dropping off a cliff as fewer people can qualify for loans.

One of the root causes is that the Federal government had an admirable objective: to increase the level of home ownership in this country. As a result of numerous bills, the federal government created sub-prime lending and down payment assistance programs resulting in 0 down loans. The goals of government were achieved, and in the past two decades, home ownership increased from around 62% of households to around 68%. The current wave of foreclosures will continue until we are back to a more sustainable level of home ownership.

Another root cause is that we built too much inventory. We currently have about 8 million housing units of oversupply, and an annual family formation rate of about 1 million. With an annualized rate of new home construction settling at just under ½ million units, it’s obvious we have years of inventory, and a large portion of our economy has idled.

To solve the foreclosure problem, we need to address how to put the construction industry back to work without increasing the number of residential housing units. We also need to address how to move the housing vacated as a result of foreclosure into the hands of the investor landlord. Someone must own the housing stock and the displaced people need somewhere to live.

The rationale behind putting the construction industry back to work is that people that are not working can’t pay rent and they can’t pay a mortgage. The construction industry is not just the men and women that build the houses; it’s the manufacturing component that fabricates the materials that go into housing, and the auto industry that builds the trucks that the construction industry uses. It’s the material supply houses that sell the materials, and the freight industry that moves the materials from the manufactures to the retailer. In other words, it’s the entire fabric of the American economy.

The rationale behind moving foreclosed homes into the hands of the investor landlord is that we need the oversupply of housing to be owned by someone, and the displaced owners won’t be able to obtain a mortgage for some time, if ever. We also don’t want the underwriting standards to once again become lax, or the creation of mortgage products to allow sub-prime borrowers to receive loans. The government will continue to use the old tools to address housing, and these approaches created the problems we are dealing with today.

The Federal government should provide a strong incentive for homeowners to spend money to remodel or rebuild existing homes. An incentive such as a tax credit of 15% of the costs for labor and materials, up to a maximum credit of $15,000, would stimulate many to spend money on their existing homes. The lost tax revenues would be offset by the increased economic activity, and the jobs that would be saved or restored would prevent some of the foreclosures. In addition many people wishing to move up to a larger or newer home would have an incentive to stay put by adding a bedroom, or updating the kitchen or baths; in other words, enhancing their home instead of competing with the REO properties for buyers. Such a tax credit would also provide an incentive to non-homeowners to purchase properties in distressed conditions and fix them up for personal use. They could then later sell them when this market is behind us and take advantage of the tax exclusion on gains. This type of program would help to decrease the “on the market” supply of existing homes.  This would help the housing market to stabilize quicker as the percentage of “on the market” homes would be biased to REO property, allowing for more rapid price adjustments, and shortening the time until we declared a bottom.

Today, real estate investment is hampered in two ways. First, if a real estate investor decides to liquidate a particular asset, they would either deal with the tax consequences or attempt to postpone their tax liabilities by doing a 1031 exchange.  Second, investing in real estate in a recessionary period, with predictions of no appreciation for many years to come, is not attractive. What if the tax code was modified to give the residential real estate investor a similar incentive to the tax exclusion on gains realized on the sale of a primary residence? Perhaps, we could allow the investor to exclude up to a $250,000 of any gain realized on the sale of an REO property that was purchased and rented as residential housing for 4 out of 5 years. This would change the risk-reward balance for the investor and would stimulate REO sales.  It would move today’s vacated homes into the rental market, facilitating the shift back to more sustainable ownership levels. The government could also provide additional incentives to the investor if the defaulted homeowner remained in residence.

Finally, we need to find some way to incentivize lenders to prioritize handling short sales of non-defaulting properties. There are many people that have a need to move on, but because they are underwater and don’t have the financial where with all to bring the difference to the closing table. The limited resources of the lenders are focused on non-performing loans.

Florida’s growth rate has been phenomenal for decades and projections for continued growth have not yet been revised sharply downward. In recent years the rate of growth may have slowed but experts whose job it is to monitor population trends say that the net population of Florida is still on the increase. For information on Florida’s growth trend see “IS FLORIDA SHRINKING?”.

As I’ve watched real estate prices fall and inventories rise I began to wonder if the projections for growth in Florida had  changed. As a resident who loves the Florida lifestyle I can’t comprehend how someone would not wish to live in the “Sunshine State”. I’ve listened to so many people argue the demographic shift of an aging America would guarantee continued growth.

I believe that the current slower rate of growth will eventually tick back to a faster rate as Americans retire. Many, who have worked their entire life with the dream of retiring to a place where almost everyday the sun shines, will realize that they can’t put off the move forever without giving up on their dream.

In the mean time this pause in rapid growth and sudden rise in energy prices may be just what Florida needs. For years  Floridians have struggled dealing with all the negatives that comes with developing along the coast and wetlands. Growth has  growth ideals have been elected to local governments. Higher energy prices may have the effect of making urban living a desirable alternative to living miles away from the urban service area, ending pressures to build in currently undeveloped areas.

In the 1920’s John Nolan developed a blue print for urban development. Nolan’s design concepts were used in St. Petersburg and Venice. I live in Venice and have come to appreciate Nolan’s design concepts.  See my blog entry “Will people shop for ‘green’ communities”. Since the 1990’s towns like Seaside and Celebration have been developed that are models of New Urban design. Florida’s growth management philosophy in the second half of the 19^th century has been to balance development of urban areas while preserving the natural. To that end the State of Florida has purchased more than 5 million acres for preservation.

Limiting the footprint of development will have the desired effect of preserving the natural Florida that has caused so many to refer to Florida as paradise. The undesired effect will be the escalation of land values in the urban areas. Unless the estimates of population growth are drastically revised we will see 8 million people move to the Sunshine Sate over the next 20 years!

I can’t begin to predict when the growth rate will ramp up again, but even with high energy costs  Florida tourism is still brisk. Many experts are chalking it up to “stay-cationing” and foreigners taking cheap vacations. I think there is an additional component. People at or nearing retirement are visiting to find the area that most appeals to them for retirement. Recent residential property sales from Sarasota to Cape Coral seem to show that many are finding southwest Florida stills fits the bill of “Paradise Found”.

Boating in Southwest Florida

Florida is famous for beaches, golfing, and fishing. Outdoor activities of all kinds can be enjoyed year round. Of all the ways we have to enjoy life here in Southwest Florida boating is on the top of my list.

We have a flats boat which is a light weight fishing boat with the ability to float in very shallow water. It has a soft ride and will provide a comfortable ride even on windy days. With a four stroke outboard you can have a conversation at cruising speed without needing to shout.

With our boat I can explore much of the vast waterway system that makes coastal Florida a special place.

One of our favorite day trips has Johanne and I launching our boat out of Indian Mounds park in Englewood. This Sarasota county park has a very nice 4-lane boat ramp with ample parking. From the ramp it’s a short ride to stump pass. We like to  beach the boat on the Manasota key side of the pass. You never know what you will experience at the pass; the last time we were there a group of manatee was resting on the bottom in about 10 feet of water just off shore. The water was gin clear that day and the manatee stayed around coming up for air every 10 minutes.

From the pass we head to Stump Pass Grille for a late lunch. Going to a waterfront restaurant is always a joy.  This spot is a treasure, outside dining under a tiki hut with the waters of Lemon Bay lapping on a riprap seawall. Most days we can watch fishermen wading the flats. It’s not uncommon to see dolphin. We have a standard order; seafood chowder and two orders of wings. One garlic and one hot. The leftovers go into our cooler and it’s back out on the water.

Boating is a year round activity. It’s easy to shake up the trip, with boat ramps all over Sarasota, Charlotte, Lee, and Collier counties. The inter-coastal provides a marked highway and with the numerous bays, rivers,  harbors, islands and the Gulf you can create you own favorite day trip.

With run-a-way energy costs, will there be a new paradigm in how cities and communities are designed? Will we see more of a shift to town center design? I’ve read a bit about “Traditional Neighborhood Design” and “New Urbanism”, these terms referring to a holistic approach to designing cities and communities. Co-locating where you work to where you live and play. Will (Do)home buyers place community design at the top of their wish list? Will promoting your market areas “green” and “livability” features help sales? Can suburban sprawl be adapted to a town center to buoy slumping rural sales?

I live on the Island of Venice in southwest Florida. When my wife and I moved here we never gave a thought about the “green” neighborhood design. We moved here because we love the beach and boating. We were attracted to the small town feel and the mature vegetation.

When I first moved to the street I live on, I noticed that my neighbor walked the ½ mile round trip to the grocery store. Another neighbor walked to the newsstand to buy their paper every morning. I never gave it a thought really. On the beach one day a women stopped me and asked how much further to Sharkysbeach-front restaurant. I told her that it was no more than ¾ of a mile, she continued her walk.

We routinely tell people just how easy it is to walk to downtown shops and restaurants, most homes measure the distance in a number of blocks.

Now with $4.00 gas, I have come to appreciate the wisdom of John Nolens original city design. I have equipped my bike with saddlebags, and instead of jumping in the car to do errands I ride my bike. Because everything is so close it really doesn’t take that much more time. I’m noticing that I’m not alone in my new way of shopping.

As I started thinking of my town as a green place to live it dawned on me that I don’t heat my house, my annual energy bill is about $1200 or $100 a month. I know it’s just the 2 of us, but still I think that’s way low compared to other areas.

Florida is considered by most people as a hot place to live, but reason tells me that it’s easier to cool a house than to heat one. The typical afternoon high in the summer is around 90. Most people are comfortable with indoor temps around mid-70s. So at the extreme your attempting to change the indoor temps about 25 degrees. While if my memory serves me well, winter temps have overnight lows in the mid 20’s (or lower) so most people are attempting to affect the inside temps by about 40 degrees. For 6 months out of the year I live with the windows open and no A/C or heat.

Yeah I’m convinced, Venice Florida is a “green” place to live, and this year it’s a key feature I use in selling my town.

Its summer here is southwest Florida. It’s time for some of the best fishing of the year. Year round the fishing is great. But summer brings “tarpon season”. Last year I became addicted. If you’ve never hunted tarpon you may not understand.

Last year I caught my first tarpon. I have had tarpon on the line before but never successfully battled one to the boat. My first tarpon was over 100 lbs. That’s when the obsession began in earnest.

I spend many mornings in my quest. I search the waters for rolling tarpon, hoping to place a lure or bait in front of the pod. Most days the tarpon beat me. They find my weakness and exploit it.

I use braid with a fluorocarbon leader. Early this season I lost tarpon as the braid cut through the leader during long runs. My support group at Fishin Franks in Charlotte Harbor suggested that I double the braid. So I’ve made the modification and double the last 3 feet of my braid using a spider knot. Then connect the fluorocarbon to the doubled braid using a uni to uni knot.

Then I started losing tarpon on the jumps. I’d been tying my hooks and lures using a uni-knot. After a series of radical jumps I’d find that my line came back without a hook or lure, just a little pig-tail. My knot had unraveled. I’m now using a palomar knot for my hooks.

This season the only tarpon I’ve gotten to the boat is a little 80 pounder. But the season is not over.

Tarpon migrate just off the beaches here in Venice during the early summer. They are found in Boca Grande pass in huge numbers. Charlotte Harbor and the rivers feeding it will hold some tarpon year round.

If you fish and want the experience of a life time, you must come here and try this amazing fishery. Call an area guide that specializes in Tarpon you’ll avoid the learning curve I’m going through.