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Now May be Best Time to Sell Your SW Florida Home

Most people in SW Florida realize the real estate market has been recovering for some time now.  So many either lost their homes or felt like they were in prison trapped in their own homes because they had negative equity.  For the past two years more and more homeowners have been able to sell due to rising equity. Today we’d like to discuss why now may be best time to sell your SW Florida home.

Find out how much your SW Florida home is worth Fort Myers real estate

We still find a large number of home sellers who are surprised that they can finally make a move.  Some like that they are in positive equity positions again and sell while some believe the market is increasing so why sell now?Now May be the Best Time to Sell Your SW Florida Home

Home prices in Lee County are up 44.16% in 2 years.  That’s a remarkable jump but that rate won’t continue.  Here are some facts that might help you decide if now is the right time to sell your home:

  1. The price of your home has gone up and so has the price of your replacement home. If you’re considering selling in Lee County and buying another one locally, waiting can cost you money
  2. Interest rates are going up. We’ve already noticed a slow creep and they’re expected to go higher in the next 2 years.  Not only will rising rates limit the buyer pool of your home, it will increase borrowing costs for your next home should you choose to finance.
  3. Insurance rates are climbing on older homes. Insurance companies may raise rates on homes with older roofs, plumbing, and electrical wiring.  It may cost more to stay in your older home than a newer home.
  4. Maintaining an older home can be costly. You may have to spend money on a new roof, appliances, paint, pool, and more in the next 5-10 years.  Some sellers elect to put that money into a newer home instead of throwing money at an older home that costs more to maintain and insure.
  5. Your window for opportunity may be shrinking. As interest rates rise your options may dwindle.  It may cost you more to move in 3 years so you decide to stick with what you’ve got.  You’re stuck with an aging home that costs more to insure and maintain simply because you missed the interest rate window.

If you’re unsure about what your home is worth or if now is the right time, we have answers for you.  Simply call the Ellis Team at RE/MAX at 239-489-4042 and we’ll discuss your options.  Everyone’s situation is different and we can guide you through the maze. We can give you detailed pricing estimates and discuss all the factors that affect you.

Why Now May be Best Time to Sell Your SW Florida Home Fort Myers Real Estate

We also have an online computer model that gives you an estimate of your home’s value.  It rates your neighborhood, provides a list of comparable sales with the date your neighbors sold and the sold price per square foot, and an estimate of your home’s value.

Simply go to Topagent.com and click on the Find Out What Your Home is Worth link.  It’s simple and Free.

As always, if you’re serious about making a move there’s no substitute for speaking with a professional.  We’re happy to talk.  We’re here for you either in person or online.  We hope you appreciate our efforts to bring you quality information and we hope that when you decide it is time to sell, you’ll consider calling the Ellis Team at RE/MAX. If you think now may be best time to sell your SW Florida home, we’ll handle you with care. 239-489-4042 or TopAgent.com

Good luck and Happy House Selling!

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By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Last week we discussed economic forces that will affect SW Florida real estate.  Much of this information was shared at the CCIM Outlook Conference in January.  Dr Lawrence Yun was the keynote speaker and he was a wealth of information.  Lawrence is the chief economist at NAR (National Association of Realtors) This week we’d like to focus on renting versus buying real estate.

Lawrence had some slides for the commercial brokers about how rising interest rates will eventually cause cap rates to rise, but there is a cushion so they may not have to rise immediately.  Rising cap rates can negatively affect property values.

Lawrence also presented data how rates are expected to rise starting this year and how that will affect mortgage rates.

Renting Versus Buying Real Estate Monetary Policy by Federal Reserve

If you look at the Monetary Policy graph you’ll notice that the Fed has kept the Fed Funds rate at 0%.  The Fed Funds rate is the rate banks and depository institutions lend balances to each other overnight.  I won’t bore you with details on how this works, but suffice it to say 0% is pretty low.

0% also isn’t the norm and those rates are not going to hold.  The Fed has halted its Quantitative Easing Program and the Fed Funds rate is most likely next.  This will affect mortgage interest rates going forward.  The 10 yr Treasury bond yield stands about 2.4% and is expected to rise to about 2.9% this year and 4.2% next year.  Mortgage rate changes are closely tied to the 10 yr bond yield changes.

Renting Versus Buying Real Estate

Rents are rising rapidly now and are expected to further rise.  As interest rates go up, this will put further pressure on rents to rise.  Landlord’s borrowing costs go up which forces them to attempt to raise rates if they can get it.  Rising rates also forces more buyers to rent as they qualify for less mortgage payment, which adds to the rental pool.  This in turn helps landlords raise rents.

owners equivalent rent renters rent

The best time to buy is before the mortgage rates start climbing.  When they do buyers finally get it and there is a buying frenzy, because nobody wants to pay higher rents or higher mortgage payments.  With low inventory it’s not a good scene to be caught in a buying frenzy when rates start to rise.  This puts an increase on prices, at least temporarily.  When the demand subsides, you as a buyer are left with the picked over houses nobody else want and higher rates to boot.

Jobs are rising in Florida.  If you’re renting right now you should seriously consider your options.  Last week we showed a graph how owning real estate is one of the drivers to accumulating long term wealth.  Let your new home do the heavy work for you.  You’ve got to live somewhere anyway, so why not pay yourself first instead of your landlord?

Can you really count on Social Security and Medicare being there for you when you retire?  Most people today say No!  Call the Ellis Team at RE/Max Realty Group 239-489-4042 and we’ll guide you through the process.  We’ll even get you pre-approved for a mortgage and show you the steps it takes to purchase.  Don’t wait until your lease is up.  Don’t wait for rates to rise!  Your options dwindle the longer you wait.

Feel free to search the MLS at www.Topagent.com  Don’t hesitate to call us for help or with questions. 239-489-4042  We’re here to help you get on the path to homeownership and wealth.  It’s not complicated when you have a professional in your corner guiding you every step of the way.

Good luck and Happy House Hunting!

Introducing Bella Casa Luxury Condominiums in Fort Myers

SW Florida Real Estate Market Update

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Bella Casa Website

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

This past week I had the distinct pleasure to offer my insights at the annual CCIM Outlook Conference at Harborside Event Center.  While I was waiting to speak I had the pleasure of sitting with Lawrence Yun, Chief Economist from NAR, and headline speaker at this year’s event.  Dr Yun and I talked about economic forces that will affect SW Florida real estate.

Lawrence and I chatted about what he sees affecting the SW Florida real estate market and the economy as a whole.  He was kind enough to share his presentation so I thought I’d share a few of his slides and recap some of his thoughts.

Economic Forces That Will Affect SW Florida Real Estate

He was very bullish on housing as a way to develop wealth.  He showed some slides that illustrated how much wealth Americans have today versus the past.  One slide that caught my eye was a comparison of renters vs. homeowners.  Homeowners have used their home to build wealth.  Many homeowners have accumulated enough wealth to own their home and put money in the stock market.  Most renters live paycheck to paycheck because they’re not accumulating wealth.  This is one reason they’re not benefiting from a rising stock market either.

Economic Forces That Will Affect SW Florida Real Estate

Rents are rising and he sees rising rents for the foreseeable future.  I really wish I could share all his graphs but suffice it to say buying a home makes a lot more sense than renting if you can qualify for a mortgage.

Dr Yun also shared a jobs graph for the Fort Myers – Cape Coral market.  Jobs have been rising in the area since 2009.  This is one reason our housing market has stabilized and has healed.

Fort Myers Cape Coral jobs growth

Dr Yun expects treasury yields to increase .4% in 2015 and 1.3% in 2016.  He predicts mortgage rates will be 6% by 2016  As we know, each 1% rise in interest rates takes away about 9% purchasing power for the buyer, so rising rates can put a squeeze on how much buyers can afford.

Lower oil prices have helped to add purchasing power to today’s buyer, so if oil stays low, it could offset the negative affect of rising rates.

He did say that if oil stays low that one of 3 leaders of Iran, Russia, or Venezuela would not survive.  Lower oil prices are helping US consumers but it’s putting tremendous pressure on leaders of those countries.

GDP has been below 3% for 9 straight years, so not everyone is feeling good times.  We also have about 6 million less working in US than before the recession.  Our economy is creating jobs but not fast enough.

Dr Yun expects SW Florida to flourish for the next 3 years.  We’re in a good spot and things are looking rosy.  He didn’t predict after 3 years.

He pretty much sums up what we’ve all been feeling here in SW Florida.  Jobs are up, housing prices are rising, and things are looking better going forward.  There are some things that may slow growth down, but for most part SW Florida is in for good times.  Just don’t get used to 30% gains in real estate. Locally median single family home prices rose 8.6% in 2014, and that’s just fine with us.  That’s a more sustainable climb than 30% every year.

To search for your home on MLS go to www.Topagent.com  If you’d like to sell you can also check out the site and get your home’s value.  Remember to Always Call the Ellis Team 239-489-4042  We’ll handle you with care!

Introducing Bella Casa Luxury Condominiums in Fort Myers

SW Florida Real Estate Market Update

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Bella Casa Website

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Each year we provide a SW Florida Real Estate State of the Market Report based on year-end numbers and current trends we see in the local SW Florida real estate market.

Fort Myers real estate cape Coral year end sale prices SW Florida Real Esttae

SW Florida Real Estate State of the Market Report

Today we’d like to update you on sales prices and inventory levels.  As you can see from the Year End Prices graph, prices have been moving upward since 2009.  The median sale price in 2009 was $90,400.  Compare that to 2014 median price of $190,000 and you can see that prices have more than doubled in just 5 short years.

We have circled the last year on the graph to call to your attention something we’ve been saying for awhile.  While our market is as healthy as it’s been in years, we could be returning to a period of more moderate growth, which is a good thing.  As we learned from the previous Boom, the market cannot sustain 15-20% prices increases forever.  Everybody knows that.  Traditionally 3-5% is the average, and we’ve been beating that by wide margins.  This was OK because in our opinion the market over-reacted and fell too far, so it had a ways to go on the upside.  Prices were well below replacement cost and that too cannot last forever.

SW Florida Real Estate State of the Market Report

Inventory levels are still below what they were in 2012 and 2013.  Inventory has risen recently but it always does this time of year.  Inventory levels bear watching in 2015 and the levels of inventory could foretell future pricing.

Most experts agree that somewhere around 5.5 months supply of inventory is a healthy balanced market.  It is not either a sellers or buyers market but rather neutral.  As you can see from the Months Supply graph the overall market sits at exactly 5.5 months supply.

We are seeing increased closings this past December versus previous years, so inventory is going to have to climb to feed the beast.  If it does not, prices could rise quickly again this year.  If listing inventory does rise, prices could rise moderately.  Or, the market could turn off to keep inventory in check.  Time is the ultimate variable here, as time cures all ills.  Lack of time in a competitive market creates rising prices.

Season is the time of year we test the market’s mettle. Starting in January prices begin climbing, so we’ll be watching the next few months to see what rate prices rise and at what rate listings climb or decline.  Listings tend to decline starting in January or February as pending sales deplete available inventory.

It’s safe to say we’re in a supply/demand market right now.  We’re watching several variables that could influence the market but none stand out as imminent right now.  The President’s capital gains increase proposal is probably dead on arrival in Congress so that’s a none-issue right now.

Gas prices are down so buyers have more disposable income.  That won’t last forever but it does help in 2015.  Count on the Ellis Team at RE/MAX to study the market and report any changes.

If you’d like to search the MLS, feel free at www.Topagent.com  If you’re considering selling, give us a call at 239-489-4042 or send us an email at Brett@topagent.com  We’d love to help you!

Thanks for reading the SW Florida Real Estate State of the Market Report.

Good luck and Happy House Hunting!

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Bella Casa Website

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

2014 was another banner year by all accounts.  Year end sales numbers for SW Florida real estate market indicate a recovering market in 2014.  This makes several years in a row of double-digit or near double-digit gains.

For the record the official numbers suggest a 8.6% increase in median single family home sale prices in 2014, up from $174,000 in 2013 to $189,000 this past year.

Year End Sales Numbers for SW Florida Real Estate Market

Year End Sales Numbers for SW Florida Real Estate Market

Average sale prices rose 8.1% to $283,529.  Year end sales numbers for SW Florida real estate market are the median of the entire year and not necessarily the final December statistics.  One month sales figures can be deceiving and seasonal, so we take the entire year.

Active inventory fell 12.6% for the year, with inventory currently at 5,394 compared to 6,169 last year.  All year we’ve been telling readers we’re in a low inventory market.  Inventory has been rising the past few months but we’re still down significantly from last year.  Inventory always rises heading into season and typically peaks out in late January or sometime in February.  It’s hard to keep inventory when the sales begin popping in season.

SW Florida Real Estate Current Active Inventory January 2015

Each year we tell our sellers sales can be quiet up until about Jan 15-20, and then all heck breaks loose.  Our team has noticed a definite uptick in buyer calls.  2015 season looks to be on par with previous years.  We’re getting some good listing calls too.

We’re going to need some good listings at the rate these buyer calls are coming in.  I spoke with an agent this week at another firm who had an open house this past weekend and 25 customers came in.  Her business is picking up this week and she can’t keep up.

We’re doing an open house tour this week in Cape Coral.  We’ll have 3 homes open on Sunday.  We do our open houses a little bit different so buyers can see several like kind homes.  2 are direct access waterfront homes and the 3rd is located on a fresh water lake with gorgeous views.  Check out our ad in the News Press HomeFinder for times and locations.

If you look at the Year End Prices graph you can see where were are in the recovery process compared to the peak in 2005.  We’ve got some ways to go before we reach that plateau.  If you look closely you can see the price rise in 2014 slowed just a bit.  Nobody can say with certainty what prices will be next year.

All I know is last year we predicted another year of gains, and we should have more gains this year as most signs look good going forward.  The rate of gain may slow, and that is a good thing.  It’s unhealthy to have double digit gains year after year.  Average gains are usually 3-5% per year and we’ve been beating that.

Rising interest rates usually temper buyer buying ability.  Sometimes it spurs more activity from buyers who want to get in at lower costs.  We’ll keep our eyes on interest rates in 2015 along with some other key variables.

In the meantime, enjoy this wonderful market.  If you’re a seller, now is the time to call the Ellis Team 239-489-4042  If you’d like to search the MLS, check out www.TopAgent.com  You can search the entire MLS, or feel free to speak with one of our friendly agents.  Be sure to read all our market updates on our Blog which can be found on our website.

Read last Week’s Article Bella Casa Luxury Condos in South Fort Myers

Good luck and Happy House Hunting!

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Bella Casa Website

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

A few weeks ago we focused on gated communities in Fort Myers.  This week we thought we’d focus on new construction condos in South Fort Myers.

Bella Casa luxury condos in South Fort Myers

Bella Casa Luxury Condos in South Fort Myers

We did a search in MLS for new builder product and 24 properties came up.  The lowest priced listing we could find was in Bella Casa for $137,000.  In fact we have a listing in Bella Casa for $134,716 and 2 bedroom 2 bath unit at $155,778.

Bella Casa luxury condos is a gated community in South Fort Myers with a resort style pool and spa, state of the art fitness center, clubhouse with club room and an outdoor living room under truss with a two sided fireplace and lighted tennis courts.  The best part might just be the low maintenance fees of only $213/mo which makes Bella Casa affordable.  Garages are available in some buildings as well.

Bella Casa luxury condos is located on Plantation Rd off Daniels, so it is conveniently located close to Gulf Coast Hospital, Minnesota Twins Spring Training and the Lee County Sports Complex, shopping, airport, and US 41 and I-75.  The builder has 36 units left for sale.  There are some rented units for investors too who would like to purchase a luxurious condo with low fees and built-in income.

What makes Bella Casa luxury condos so unusual in today’s market is the combination of newer construction, garages, gated community with amenities, and low maintenance fees in South fort Myers.  Typically a community might offer one or more of these features, but rarely all of them.

Bella Casa Luxury Condos in South Fort Myers Aerial View

Bella Casa luxury condos offers 1 Bedroom, 2 bedroom, and 3 bedroom units. Many have lake or preserve views.  For more information call our office at 239-489-4042 or visit our website at Topagent.com

Bella Casa Condominiums in Fort Myers is a saved search on our website which makes it easy for you to see what’s available in MLS.  Did you know that you can search for a home or condo in MLS directly from our website?  You can, and we make it easy.  Virtually every property in MLS can be viewed on our website at Topagent.com  Keep in mind not all new construction is listed in MLS, so that’s why our team works hard to keep up on inventory.

It’s quite possible the home you’re looking for is under construction and not in MLS at the moment.  The Ellis Team has a team of buyer specialists devoted to keeping up on the market and listening to your needs.  Quite often we listen and match buyers up with properties they didn’t even know were on the market.

As leaders in the SW Florida real estate market we try to find out about opportunities first, and we work hard to keep up with the changes.  Because we work with a lot of buyers our specialists are out there regularly visiting projects so when you call we may have some ideas for you worth checking out.

Take Bella Casa luxury condos for instance.  There may be 4 new construction units on the MLS and a few re-sales and yet active Realtors know the developer has models open daily and more to choose from, but they’re going fast.

We hope you enjoy reading about communities we’ve focused on recently like Bella Casa luxury condos and Reflection Lakes.  If you have a community you feel has a lot to offer let us know and maybe we’ll write about it.

Good luck and Happy House Hunting!

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

For the past year we’ve been harping on new appraisal issues and their affect on real estate transactions.  Well, we’ve got another doozy to tell you about, and this appraisal ticking time bomb is set to go off January 26.

Appraisal Ticking Time Bomb

Traditionally an appraisal is performed and submitted to the bank and then the underwriter signs off on it.  Before you were clear to go if the underwriter didn’t ask more questions and if the adjustments didn’t exceed certain percentages.

FNMA is doing away with the adjustment percentages in section B4-1.3-09  Before agents and appraisers jump up and down and celebrate beware of the new changes.

Fannie Mae is introducing a new software tool called Collateral Underwriter that essentially will produce up to 20 comparable sales ranked by risk to compare against sales the appraiser uses in their report.

After studying some of the training on FNMA’s website it’s apparent that we’re in for a bumpy ride.  I’m going to introduce you to a term called CBG (Consensus Block Group) This term will cause lenders and appraisers agita. Basically appraisers are supposed to use comparables in the same neighborhood when possible, and if not possible then use a similar nearby neighborhood.

With  Collateral Underwriter the system will select up to 20 properties in the same CBG regardless of whether the neighborhood is similar or not.  As you can imagine here in SW Florida, we have hundreds of neighborhoods with a certain set of values that abut another neighborhood with a different set of values.

For instance, think of Renaissance near I-75 and Daniels.  Renaissance features homes over $1 million, while nearby Danforth Lakes features homes in the $200’s-$300’s range.  This is not a knock against Danforth Lakes; it’s just not a good comparable for Renaissance.

Let’s also talk about the “Risk” factor.  Collateral Underwriter will rank comparable homes it identifies by “Risk” and compares those 20 comps against the comps the appraiser used.  You can bet the higher the sale price, the higher the risk.  So now appraisers might be inclined to not select the best comparable but rather the comps with the least risk of being flagged because of “Risk”.

Guess what happens when the appraisal is shot back to the appraiser for clarification.  The appraiser must now justify why the comps he used were better than the ones the computer used in a separate area but in the same CBG.  Who is going to pay the appraiser for the extra time?  The consumer will.  If they don’t allow the appraiser to pass along the extra costs, they’ll take shortcuts to save time and use less expensive comps.

Does this ultimately protect the banks?  No. It can put a false constraint on prices in the market which doesn’t protect the bank, and certainly not the public.

Why even order the appraisal if you’re not going to trust the boots on the ground?  It seems the computer is taking over and the systems are flawed.  Remember, garbage in, garbage out.  And this goes against the Market Conditions Addenda FNMA requires appraisers to fill out using only neighborhood data.  It’s like FNMA is breaking their own rules.  Appraisers will be expected to reconcile any differences between the addenda and CBG trends.

Lending has become so complex it’s virtually impossible for anyone to Sell By Owner anymore.  It’s also becoming harder for a part-time or inexperienced agent to tread the constant tidal waves coming ashore by new regulations.

If you’re thinking of buying or selling, be sure to call a professional.  Doing it over and losing a sale is always more costly than doing it right the first time.  We can be reached at 239-489-4042.  Search the MLS at www.Topagent.com
Search the MLS for Gated Communities in Fort Myers

If you’re thinking about selling your home in SW Florida and would like to find out what your your home is worth we can help.

 

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

This week we thought it would be neat to focus on a community and tell a bit more about it to readers, and then we thought, why stop at one community?  We’ve highlighted select communities in the past, so we thought we’d focus on a topic of interest we get asked a lot by home buyers.  This week’s article will focus on gated communities in Fort Myers.

Gated Communities in Fort Myers

Fort Myers offers many gated communities.  Buyers enjoy the many benefits of living in a gated community.  Traffic tends to be less in a gated community because access is restricted.  Neighbors who live in the community tend to be more mindful of people walking or kids playing because they live there and know the roads.

Another benefit is increased security.  While gates do not guarantee a crime free neighborhood, it does make it more difficult for thieves to burglarize a home and have a getaway car.  Some thieves will move on as they don’t want to risk having their license plates video taped or recorded by a manned guard.  If a thief really wants in though, a gate is no match.  Banks get robbed and so do jewelry stores with elaborate systems, so a gate cannot guarantee security.

Neighbors tend to have a better handle on who lives in the community though.  If a car or van doesn’t look like it belongs, it stands out and neighbors watch.  In non-gated communities it’s harder to tell which cars belong.

Gated communities add a sense of privacy many home buyers are looking for.  You don’t have the general public driving your streets any hour of the day or night unless they’re invited in.

Many people with Ex’s enjoy gated communities knowing their Ex can’t just pop in unexpectedly.  The same goes for friends up North who just show up when they’re in town.  Restricted access can be a good thing when you’re not in the mood for guests.

One disadvantage of living in a gated community is that people can’t drive around and see what’s for sale, or even what the community offers.  If you want to sell you have to market the home a lot more to find that buyer.

We’ve created an easy way to search for gated communities in Fort Myers, or anywhere else in SW Florida for that matter as well.  Simply go to Topagent.com and click on the Gated Communities page in the Communities section.  Our MLS search site makes it easy to search for things like gated communities, waterfront homes, homes with pools, condos, you name it.

Of course while you’re browsing at your leisure you can also speak with a professional at the Ellis Team to make sure you’re on the right track. 239-489-4042.  We’re here to help you online, over the phone, or in person.  We know that home buying or selling decisions sometimes occur over time.  Many buyers and sellers need to see their options first and see if it even makes sense to contemplate such a move.  Others know they’re ready now and are just waiting for the right property to open up.  Either way you’re covered and we’ll help you no matter where you are in the process.

We’re here for you whether you’re buying today or just thinking about it down the road.  Always call the Ellis Team at RE/MAX Realty Group 239-489-4042. We’ll handle you with care!  Or visit our website at Topagent.com

Search the MLS for Gated Communities in Fort Myers

If you’re thinking about selling your home in SW Florida and would like to find out what your your home is worth we can help.

 

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

This time of year you’re either in 7th Heaven or purgatory with all the football games.  There are about 38 bowl games alongside NFL teams fighting for playoff spots, so there’s no shortage of games to watch this year. It’s time for the SW Florida Real Estate market 2 Minute Drill.

With football on my mind it seemed appropriate to describe the SW Florida real estate market as entering the 2 minute drill.  We’ve had a pretty good year, and it’s time to put the finishing touches on the year and set us up for the next game beginning in January.

SW Florida Real Estate Market 2 Minute Drill

SW Florida Real Estate Market 2 Minute Drill

The Southwest Florida real estate market is definitely in the hurry-up offense.  As you can see from the single family inventory graph, Realtors have been hard at work bringing more properties to the market. We need them all as active inventory is down 13.2% from last year, and last year we were complaining about low inventory levels.

Next month we also have the Draft. About mid January the Draft begins whereby the best homes are selected. General Managers (Buyers) scour the market for the best properties.  We need more sellers to declare for the Draft or by the end of March buyers will be selecting Mr. Insignificant.  You’ve probably heard of Mr. Insignificant.  This is the last person selected in the NFL draft.  While it’s an honor to be selected, you know that you’ve been passed over by every other team and selected dead last.

Southwest Florida Real Estate Market Sales Prices

If you’re a seller, you don’t want to be picked dead last.  You want to move your draft position higher by properly valuing your home in the market.

If you’re a buyer, you don’t want to pick dead last.  You’d like to trade-up and improve your draft position so you can select a nicer home for the money.   You can do this by being pre-approved and turning your finance offer into a stronger offer.  You can employ little tricks that look good to a seller.  A good Realtor is like a capologist and can help you select the best property based upon the funds you have to work with.  Sure you have a spending cap, just like NFL teams do.  The goal is to select the best value at the position you’re drafting from.  You must study the market or you’ll end up selecting the wrong property or paying more than you needed to.  Essentially you could have had the same property in a later round when you make a mistake.

Likewise, that franchise prospect only comes around every so many years.  When you see a property that fits your team’s needs, it pays to go grab it while the choice is yours.  When you’re time is up, the next team is On the Clock and will snatch that pick up.  You snooze, you lose.

Winning an NFL game takes an experienced coach with good players who knows how to manage the clock.  The same is true in real estate. Whether you’re buying or selling, you need a great coach to help you through.  The outcome can affect your life for years to come.

Always draft the best property you can, and no matter what, Always select the Best Coach.  The Ellis Team has some of the Best coaches you can find, and we’ll guide you through the process.  We look forward to watching you spike that ball in the end zone.  Give us a call at 239-489-4042 or search for your dream home at Topagent.com

Good luck, and Happy House Hunting!

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By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

 

Everybody talks about Season and how it influences sales in SW Florida but few people understand the various seasons, so we’ll attempt to explain with our SW Florida Real Estate Guide to Seasonal Buyers.

SW Florida Real Estate Guide to Seasonal Buyers

 

  1. The 6 Monthers- These residents arrive in October and stay through end of March or so. They typically own a property here, although each year some of them think about moving into a different seasonal property. This year we’ve had several sell their local home and purchase another.
  1. Week After Christmas- These people arrive Dec 26 or thereabouts and stay through New Years. They bask in the sun and one day wonder about living in Florida. When the weather is bad, or their sunburn is crisp they call our office and want to look at property today.  Some buy, but some are just killing time and dreaming about one day.
  1. The 1 Monthers- These people rent a home or condo, possibly on the golf course, on a canal, or in a neighborhood with lots of activities and enjoy SW Florida for a month or two. They tend to be serious as they are spending more money for the rental and they can take off work for a month.  Their dream is much closer to reality and should be taken seriously as they could purchase a second home or make the move at any time.  Some will become 6 monthers and some may even relocate here.
  1. Spring Breakers- These kids don’t buy real estate but they have a good time and spend money while visiting. They’re not shoppers anytime soon.
  1. Family Spring Break- These are the families taking their kids to Florida while they’re off from school. They love Disney and the beaches, so SW Florida does very well here. Some have lots of money and keep an eye out for opportunities to move here or buy a vacation home.  Their biggest issue is family up North, so vacation homes many times win out.
  1. Foreign Visitors- SW Florida receives visitors from Germany, England, and Europe in droves. One day last year I rented a hotel at the beach and my wife and I were in the minority speaking English. I did strike up several conversations.  One couple was a pair of doctors from Europe and they just loved SW Florida.  I was amazed at how popular our beaches are over in Europe and how many visit here year round.
  1. Day Hoppers- These are people that find a cheap flight and fly down for a few days or long weekend. After a trip or two they search for property on the Internet and begin the dream process. These buyers are fairly serious and a sale could happen at anytime.  They line properties up in advance and many times our buyer specialists find the perfect property for them.
  1. The 20 Belows- These are Snowbirds suffering through another long winter. Each storm brings more visitors to our website Topagent.com until it becomes one storm too many and they say Enough! We’ve had people book the next flight out and begin shopping because they’ve had enough.  We know, 27 years ago I was a 20 Below.
  1. Relocation Buyers- These buyers jump at the chance to move to SW Florida because of an employment opportunity. These are fun and serious buyers to work with.
  2. Summer Buyers-These buyers come back after visiting or dreaming about Florida all winter as their schedules allow. Kids are out of school and they have more vacation time. Summer buyers are serious buyers. Some agents take summers off but that’s a big mistake.

Selling real estate is a year round profession.  We hope you enjoyed our analysis of shoppers.  Perhaps even some were comical.  If you’re thinking of buying or selling your piece in paradise, call the SW Florida real estate experts 230-489-4042 or search online at Topagent.com

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Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

 

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

 

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