Client Detail with Addl Pics Report

Property Type  Residential    Statuses  Active, Active Contingent Listing Agent (459097) Sande L Ellis
Listings as of 05/30/07 at 12:54pm
Active 05/22/07 Listing # 200735481 24700 Sweet Gum Ct Bonita Springs, FL 34134-7942 Listing Price: $625,000
County: Lee

Prop Type Residential Prop Subtype(s) Single Family
GEO Area BN05 – pelica Subdivision Pelican Landing
Beds 4 Living Area 2537 Tax Data
Baths(FH) 3 (3 0) Price/Sq Ft 246.35
Waterfront No
Year Built 1992 Lot Sq Ft (approx) 22564 ((Tax Data))
PID 164725B40080A0060 Lot Acres (approx) 0.518




Directions  From Cypress Lake, turn R at Tamiami Trail. Turn R at Pelican Landing Pkwy. Turn L at Pennyroyal Dr. Turn R at Sweet Gum Ct.
Property Information  What a beauty! This 4 bedroom, 3 bathroom pool home in Pelican Landing offers lot’s of privacy with a big backyard, wooded views and gorgeous landscaping. From the brick paver driveway, tile roof, plantation shutters, fountain and arched entry flowing with bougainvillea – this home is a charming retreat. Perfect for entertaining with an outdoor kitchen that has a built-in-grill, refrigerator, sink and plenty of counter space for preparing meals; gorgeous pool and paver lanai. Great floorplan that features sliding glass doors opening out to lanai from the family room, living room and master bedroom. Spacious kitchen with center island, plant shelving and tile backsplash. So many upgrades and beautiful details – you have to make sure to come see this one!

Status Type Resale Property Zoning Rpd
Building # 0 Unit Floor 1
Total Floors 1 Den No
Furnished Unfurnished Ownership Desc. Single Family
Approx Total Area 4347 Lot Size- Frontage 92
Lot Size- Back 150 Lot Size- Left 175
Lot Size- Right 187 Pets Limits
Pet Comments See HOA docs Elevator None
Cable Available Yes Garage Attached
# Garage Spaces 2.00 Legal Unit N/A
Construction Concrete Block, Stucco Siding Parking Driveway, Paved Parking
Community Type Gated, Golf Course Amenities Beach Access, Community Room, Exercise Room, Tennis, Community Park
Cooling Ceiling Fans, Central Air Restrictions Architectural
Roof Tile Exterior Features Built-In Grill, Fruit Tree, Outdoor Kitchen, Sprinkler Auto
Irrigation Lake/Canal Security Alarm Monitored, Gated, Guard at Gate, Patrolled
Flooring Carpet, Tile, Wood Water Central
Waterfront Descrip. None Rear Exposure NW
Windows Single Hung, Sliding Sewer Central
Heat Central Electric Boat/Water Access None
View Landscaped Area, Preserve Kitchen Island, Pantry
Private Pool Yes Pool Description Below Ground, Heated Electric, Pool Bath, Screened
Interior Features Built-in Cabinets, Cable Prewire, Laundry Tub, Pantry, Smoke Detectors, Volume Ceiling, Window Coverings, Other/See Remarks Master Bath Descrip Dual Sinks, Jetted Tub, Separate Tub/Shower
Private Spa No Equip/Appliance Incl Auto Garage Door, Cooktop, Dishwasher, Disposal, Dryer, Microwave, Security System, Self Cleaning Oven, Smoke Detector, Wall Oven, Washer
Guest House No Num of Ceiling Fans 8
Dining Description Breakfast Bar, Breakfast Room, Formal Approval Info None
Possession At Closing Maintenance Includes Cable, Reserve, Security, Streel Lights, Street Maintenance
Terms Buyer Finance/Cash

Presented By: Sande L Ellis RE/MAX Realty Group
Primary: 239-489-4042
Secondary:
Other:
   
E-mail: sande@topagent.com
7910 Summerlin Lakes Dr
Fort Myers, FL 33907
239-489-0444
May 2007 Web Page: http://www.TopAgent.com
   
Information has not been verified, is not guaranteed, and is subject to change.
Copyright ©2007 Rapattoni Corporation. All rights reserved.

We get asked this all the time, Is it time to buy or sell in SW Florida.  We believe it’s time to buy.  It is not a good time to sell unless your circusmtances dictate a need to sell.  We’ll elaborate.

Over the weekend we were featured on MSNBC about the national housing market.  We told their real estate expert, John Bendall, Fort Myers was a good place to buy.  Prices have retreated and there are some great buys now.

We recently sold a lakefront pool home in Hawk’s Preserve for about $265,000 with the seller paying closing costs.  Our buyer was elated as this same home 2 years ago was selling for well into the mid $400’s.  This buyer has approximately $200,000 more buying power.  They’re able to get a 2,400 sq ft of living area home, with a pool, and a gorgeous lake view for their family of four.  They could not have done this even a year ago.

Affordablity is back in our market.  In addition to shelter, the home is now once again a long-term investment, a financial asset.  Homes have always been an asset, but not necessarily a good one when investors were paying Top Dollar and the bottom fell out.  Our market was not healthy when short-term investors came in and bought up much of the market with the intent of flipping to someone else at a higher price.  We saw much fraud in the process, and the end-user was hurt because they couldn’t afford to buy at the inflated prices.

Fast forward to 2007.  Much pain has occurred, and many investors have either sold, rented their home, or faced foreclosure.  We have several segments that have rebounded nicely, and we can say with confidence that some sectors bottomed awhile back.

Just because some homes bottomed, and in fact median prices have been on the rise 5 out of the last 6 months, we can’t say that the entire market is healthy just yet.  We still have large degrees of inventory of condos on the market, and many subdivisions are still vacant and primarily investor owned.  These will take time to balance with today’s market.  Make no mistake, our market is healing itself right now, and the sectors that still need healing will continue to do so.  With healing comes pain.  Many have felt the pain and dealt with the situation, others still must come to that realization.

Regardless, it is much better to be a buyer in this market than a seller.  It’s also wise to work with a Full-Time Realtor experienced in the ups and downs of the SW Florida real estate market.  Good buys are out there, and you can do well.  There are still some over-proced properties on the market, and you don’t want to purchase one of those.  Always get with a qualified and professional full-time agent to guide you through the buying process.

We’ve always said, you make money in real estate on the "Buy", not the "Sell".  Make sure you buy right.  Believe it or not, the best priced properties are selling, and many have multiple offers.  Those are the ones you want to jump on, and you may even pay full price because it’s a good deal.  The over-priced properties you must offer less, and in fact you might be wiser to just pass on until the seller gets realistic.

Client Detail with Addl Pics Report

Listings as of 05/29/07 at 10:44am
Active 01/15/07 Listing # 200704785 6910 Deep Lagoon Ln Fort Myers, FL 33919-6154 Listing Price: $525,000
County: Lee

Prop Type Residential Prop Subtype(s) Single Family
GEO Area FM09 – town + Subdivision Town + River
Building Des Split Bedrooms
Beds 3 Living Area 2429 Tax Data
Baths(FH) 3 (2 1) Price/Sq Ft 216.14
Waterfront Yes
Year Built 1986 Lot Sq Ft (approx) 14680 ((Tax Data))
PID 20452423000000280 Lot Acres (approx) 0.337



Directions  Take Cypress Lake Dr, make L at McGregor Blvd. Turn R at S Town and River Dr. Turn L at Deep Lagoon Ln.
Property Information  Welcome to beautiful Town & River Estates! Located just off McGregor Blvd this much sought after community feels like home. This custom home is like no other: situated on an oversized lot with an immense tiled lanai you’ll appreciate the self-cleaning heated pool and spa over-looking a long lakeview. Inside there is more to marvel at with cherry hardwood floors and spanish-tiled floors; island kitchen with tiled countertops and tons of cabinets; living room, family room, and a formal dining room that could seat 12! You will also appreciate the vaulted ceilings, ample storage and linen closets, oversized garage, french doors to the lanai, and more than can be described here. Show this first and you will be pleased!

Status Type Resale Property Zoning Rs-1
Building # 0 Unit Floor 1
Total Floors 1 Den No
Furnished Unfurnished Ownership Desc. Single Family
Approx Total Area 4881 Lot Size- Frontage 105
Lot Size- Back 105 Lot Size- Left 140
Lot Size- Right 140 Pets No Approval Needed
Elevator None Cable Available Yes
Garage Attached # Garage Spaces 2.00
Legal Unit N/A Construction Stucco Siding, Wood Frame
Parking 2+ Spaces, Driveway, Paved Parking Community Type Other/See Remarks
Amenities None Cooling Ceiling Fans, Central Air
Restrictions Deeded Roof Tile
Exterior Features Deck, Patio, Storage, Sprinkler Auto Irrigation City
Security Alarm Monitored Flooring Carpet, Tile, Wood, Other/See Remarks
Water Central, Filter Waterfront Descrip. Lake, Seawall
Rear Exposure E Windows Single Hung
Sewer Central Heat Central Electric
Boat/Water Access None View Lake
Kitchen Island, Pantry Private Pool Yes
Pool Description Below Ground, Concrete, Equipment Stays, Heated Solar, Screened, Self Cleaning Interior Features Cable Prewire, Cathedral Ceiling, Custom Mirrors, French Door, Laundry Tub, Pantry, Pull Down Stairs, Skylight, Smoke Detectors, Vaulted Ceiling, Walk-in Closet, Window Coverings, Surround Sound Wired
Master Bath Descrip Dual Sinks, Shower Only Private Spa Yes
Spa Description Below Ground, Equipment Stays Equip/Appliance Incl Auto Garage Door, Dishwasher, Disposal, Microwave, Range, Refrigerator/Ice, Smoke Detector
Guest House No Num of Ceiling Fans 6
Dining Description Breakfast Room, Formal Approval Info Other/See Remarks
Possession At Closing Maintenance Includes None
Terms Buyer Finance/Cash

Presented By: Sande L Ellis RE/MAX Realty Group
Primary: 239-489-4042
Secondary:
Other:
   
E-mail: sande@topagent.com
7910 Summerlin Lakes Dr
Fort Myers, FL 33907
239-489-0444
May 2007 Web Page: http://www.TopAgent.com
   
Information has not been verified, is not guaranteed, and is subject to change.
Copyright ©2007 Rapattoni Corporation. All rights reserved.

As I looked around this holiday weekend I noticed families enjoying picnics, the beach, grilling out, and enjoying each other.  This is America, and families enjoying each other is as it should be.  In fact, we don’t get enough of that, so you’ll never hear me complain about this topic.

I did, however, wish to point out what Memorial Day is all about.  We enjoy the freedom to enjoy our families, our free speech, our private property rights, and all our inalienable rights including the pursuit of happiness because of three things.  First is the goodwill and fortitude of our founding fathers.  Secondly, is the spirit of our nation to honor and protect those values established many years ago.  And lastly, and perhaps most importantly, is the bravery and courage of America’s men and women who proudly serve our military.

For you see, our military doesn’t serve a proud dictator, or an evil empire.  Our military serves and protects us, citizens of the United States of America.  They also protect other countries and other people’s freedoms, and the U.S. gets little thanks for that.  In fact, let one injustice happen in the world and you’ll hear the world react and debate why the U.S. isn’t stepping in to protect a helpless and defenseless country from something bad.  But enough about other countries.

Today is the day we as American’s honor our military, and their families who risk all, and have suffered over the years.  Families have suffered from loss of loved ones forever, torn apart families, and just simply losing an armed forces member for long periods of time when called up to duty.  Anytime a family is separated, the entire family pays.

We also honor all who have died for our country, regardless of which war or conflict they died in.  Some may have died in a training mission and not in war, and yet their sacrifice isn’t anything less.  Today is a day to put politics aside, and remember we are who we are becuase of who was willing to lay down and die for us.  The popularity of the war itself has no bearing on the sacrifices our brave men and women have made for us.

So, when you’re out this weekend enjoying the weather, beach, picnic, and family, remember the real reason we have our freedoms.

On behalf of the entire United States of America, thank-you for serving us.  We all appreciate it more than our veterans know. 

The SW Florida real estate market again shows some positive signs, as median single family home prices in Fort Myers / Cape Coral area increased 5.67% in April over March.  March posted 4.65% increase, which means median prices have increased about 10% since February 2007.  Median prices are definitely on the rise, as illustrated by our SW Florida Real Estate Month Over Month Graph.

Sellers should be careful not to over react to this positive news, as it is only one indicator.  The entire breath and scope of the market isn’t moving upward, simply the median price.  We knew the median  price would be the first to stabilize.  Median price is simply a measure of half the homes selling for more than a certain number and half selling for less than a certain number.  Many homes are selling, but only the best priced homes are selling, and homes priced above the market will sit on the market.  Median price is just one indicator.

Another indicator is how many homes are selling.  Home sales fell from March levels, which is typically the case until the market heats back up again in the summer.  Our SW Florida Real Estate Homes Closed Graph illustrates this point. Single family home sales were down 37% from last years levels, and down almost 10% from March 2007 levels.

As you can see from our SW Florida Real Estate Sale Prices 2005-2007 graph, sale prices have caught last years levels.  This is important, because the media will now start reporting prices are edging higher.  The more accurate indication is month over month changes which have been rising 5 out of the last 6 months, but that was lost in the reporting because sale prices were down against last year, which seems to be the media industry standard.  Now that we’ve broke out of that mold, which we predicted would happen sometime mid-year 2007, the media will start reporting prices are up, even though they’ve been going up for months.

The overall direction of the market is encouraging, but all the stars are not in alignment yet.  What we’d like to see is inventory levels  decreasing more than it is, sales increasing over last years levels, and prices stabilizing across all market segments.  This hasn’t happened yet, but it will in time.  The market is cleansing itself.  We expect a gradual improvement in numbers throughout the balance of 2007 overall, even though some segments will continue to struggle into next year.  Particularly hard hit will be new subdivisions where investors still make-up a majority of the homeowners.  We need end users to stabilize this market, and that is occurring as pricing has come down significantly.

Condo sale prices were down 24% in the Greater Fort Myers Cape Coral area from $322,500 last April 2006 to $244,100 April 2007, and the number of sales were down 14%, from 259 last April 2006 to 223 April 2007. Condo sales were actually up slightly from March levels, 223 in April 2007 Vs. 221 in March, and prices were down from $250,800 in March 2007 to $244,100, a 2.67% decrease.

Statewide, single family home sales were down 26% and median prices were down 3%, so Fort Myers and Cape Coral did better than the state average in price and worse in sales. Statewide, condo sales were down 19% and median condo sale prices were up 3%, Fort Myers Cape Coral did better than the average for numbers of sales and worse than average in median sales prices.

You can see how Fort Myers and Cape Coral single family home sales did this year Vs. last year and compared to the entore state.  Also view Condo sales in Fort Myers and Cape Coral report.

Client Detail with Addl Pics Report

Property Type  Residential    Property Subtype  Single Family   Status  Active Listing Agent (459097) Sande L Ellis
Listings as of 05/22/07 at 1:32pm
Active 03/20/07 Listing # 200720734 1001 SE 21st St Cape Coral, FL 33990-4609 Listing Price: $700,000
County: Lee

Prop Type Residential Prop Subtype(s) Single Family
GEO Area CC13 – cape c Subdivision Cape Coral
Building Des Split Bedrooms
Beds 4 Living Area 2457 Tax Data
Baths(FH) 3 (3 0) Price/Sq Ft 284.90
Waterfront Yes
Year Built 1978 Lot Sq Ft (approx) 12632 ((Tax Data))
PID 304424C4006630890 Lot Acres (approx) 0.290




Directions  From Fort Myers take Veterans Memorial Pkwy. Make alight right at Del Prado Blvd. Turn left at SE 21st St.
Property Information  Custom designed to catch all of the breathtaking waterfront views. Living here is like living on a houseboat without being rocked by waves. We predict you will never move again. You will feel the warmth – it’s been a fun place to live and perfect for entertaining family and friends. Note the large master suite, the french doors, the very unique work in laundry room and the pool with 10 ft cage.

Status Type Resale Property Zoning R1-W
Building # 0 Unit Floor 1
Total Floors 1 Den No
Furnished Unfurnished Ownership Desc. Single Family
Approx Total Area 4382 Lot Size- Frontage 72
Lot Size- Back 102 Lot Size- Left 145
Lot Size- Right 145 Pets No Approval Needed
Elevator None Cable Available Yes
Garage Attached # Garage Spaces 2.00
Legal Unit 21 Construction Concrete Block, Stucco Siding
Parking Driveway, Paved Parking Community Type Boating
Amenities Other/See Remarks Cooling Central Air
Restrictions None Roof Shingle
Exterior Features Patio Irrigation Assessment Paid
Security Other/See Remarks Flooring Carpet, Tile, Wood-Like
Water Assessment Paid Waterfront Descrip. Gulf Access, Intersecting Canal, Seawall
Rear Exposure NW Windows Awning, Sliding
Sewer Assessment Paid Heat Central Electric
Boat/Water Access Dock Included, Gulf Access View Canal, Intersecting canal, Water
Kitchen Built-In Desk, Pantry Private Pool Yes
Pool Description Below Ground, Concrete, Screened Interior Features Cable Prewire, Pantry, Pull Down Stairs, Smoke Detectors, Vaulted Ceiling, Window Coverings
Master Bath Descrip Combo Tub & Shower Private Spa Yes
Spa Description Above Ground, Screened Equip/Appliance Incl Auto Garage Door, Central Vacuum, Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator/Ice, Self Cleaning Oven, Smoke Detector, Washer
Guest House No Dining Description Breakfast Room, Formal
Possession At Closing Terms Buyer Finance/Cash

Presented By: Sande L Ellis RE/MAX Realty Group
Primary: 239-489-4042
Secondary:
Other:
   
E-mail: sande@topagent.com
7910 Summerlin Lakes Dr
Fort Myers, FL 33907
239-489-0444
May 2007 Web Page: http://www.TopAgent.com
   
Information has not been verified, is not guaranteed, and is subject to change.
Copyright ©2007 Rapattoni Corporation. All rights reserved.

Client Detail with Addl Pics Report

Property Type  Residential    Property Subtype  Single Family   Status  Active Listing Agent (459097) Sande L Ellis
Listings as of 05/22/07 at 1:32pm
Active 02/21/07 Listing # 200713852 938 San Carlos Dr Fort Myers Beach, FL 33931-2226 Listing Price: $1,450,000
County: Lee

Prop Type Residential Prop Subtype(s) Single Family
GEO Area FB06 – san ca Subdivision San Carlos On The Gulf
Beds 2 Living Area 1491 Listing Agent
Baths(FH) 2 (2 0) Price/Sq Ft 972.50
Waterfront Yes
Year Built 1963 Lot Sq Ft (approx) 14375 ((Tax Data))
PID 13462301000010310 Lot Acres (approx) 0.330



Directions  Go South on San Carlos Blvd. Turn R on Prescott to San Carlos.
Property Information  Gorgeous pool home with view of the bay and gulf on San Carlos Island. Features of note include a huge kitchen, fireplace and easy access on and off the island.

Status Type Resale Property Zoning Tfc2
Building # 0 Unit Floor 2
Total Floors 2 Den Yes
Furnished Unfurnished Ownership Desc. Single Family
Approx Total Area 3422 Lot Size- Frontage 75
Lot Size- Back 75 Lot Size- Left 193
Lot Size- Right 193 Pets No Approval Needed
Elevator None Cable Available Yes
# Carports Spaces 2 Carport Attached
Legal Unit N/A Construction Piling
Parking Driveway, Other/See Remarks Amenities Other/See Remarks
Cooling Central Air Restrictions Other/See Remarks
Roof Built-Up or Flat Exterior Features Deck, Outdoor Shower, Patio
Irrigation City Security Other/See Remarks
Flooring Carpet Water Central
Waterfront Descrip. Bay, Gulf Access Rear Exposure SW
Windows Jalousie, Sliding Sewer Central
Heat Central Electric Boat/Water Access Gulf Access
View Bay, Gulf, Gulf and Bay, Water Kitchen Island, Pantry
Private Pool Yes Pool Description Below Ground
Interior Features Cable Prewire, Fireplace, Smoke Detectors, Walk-in Closet Master Bath Descrip Separate Tub/Shower, Other/See Remarks
Private Spa No Equip/Appliance Incl Disposal, Dryer, Refrigerator, Walk-In Cooler, Washer, Other/See Remarks
Guest House No Dining Description Other/See Remarks
Possession At Closing Terms Buyer Finance/Cash

Presented By: Sande L Ellis RE/MAX Realty Group
Primary: 239-489-4042
Secondary:
Other:
   
E-mail: sande@topagent.com
7910 Summerlin Lakes Dr
Fort Myers, FL 33907
239-489-0444
May 2007 Web Page: http://www.TopAgent.com
   
Information has not been verified, is not guaranteed, and is subject to change.
Copyright ©2007 Rapattoni Corporation. All rights reserved.

Client Detail with Addl Pics Report

Property Type  Residential    Property Subtype  Single Family   Status  Active Listing Agent (459097) Sande L Ellis
Listings as of 05/22/07 at 1:32pm
Active 07/14/06 Listing # 200656322 7996 Tiger Palm Way Fort Myers, FL 33912-6447 Listing Price: $700,000
County: Lee

Prop Type Residential Prop Subtype(s) Single Family
GEO Area FM22 – herita Subdivision Heritage Palms
Building Des Split Bedrooms
Beds 4 Living Area 2656 Tax Data
Baths(FH) 3 (3 0) Price/Sq Ft 263.55
Waterfront No
Year Built 2000 Lot Sq Ft (approx) 11979 ((Tax Data))
PID 054525P30030D0120 Lot Acres (approx) 0.275




Directions  E on Daniels Pky, L at Six Mile Cypress Pky, L at Heritage Palms Blvd, L at Curry Palm Ln, R at Tiger Palm Way.
Property Information  Prepare yourself – this is the one. Golf course community: check. Close to major roads, airport, hospitals, schools, shopping, and more: check. A home to make you proud: check. This modified York floorplan is sure to please with space for entertaining or raising a growing family or both! A small sample of features that will be sure to delight include: an extremely spacious master suite complimented with an oversized roman tub, corner shower, and a walk-in closet that can handle your wardrobe needs all year long; upgraded kitchen with corian countertops, maple cabinets, and a terrific view out to the lanai; beautiful modern colors throughout; intercom (with CD player), sprinkler, and security systems; electric hurricane shutters; and a beautiful lanai area with heated pool and spa. Maximize your day and show this first – everyone will be glad you did.

Status Type Resale Property Zoning Rpd
Building # 0 Unit Floor 1
Total Floors 1 Den Yes
Furnished Unfurnished Ownership Desc. Single Family
Lot Size- Frontage 80 Lot Size- Back 80
Lot Size- Left 150 Lot Size- Right 150
Pets Limits Pet Comments 2 small pets
Elevator None Cable Available Yes
Garage Attached # Garage Spaces 2.00
Legal Unit 1 Construction Concrete Block, Stucco Siding
Parking Paved Parking Community Type Gated, Golf Course
Amenities Clubhouse, Community Pool, Golf Course, Putting Green, Sidewalk, Streetlight, Underground Utility Cooling Ceiling Fans, Central Air, Humidistat
Restrictions Deeded Roof Tile
Exterior Features Patio, Shutters Panels, Shutters Electric, Sprinkler Auto Irrigation Reclaimed
Security Alarm Monitored, Guard at Gate Flooring Tile
Water Central Waterfront Descrip. None
Rear Exposure S Windows Single Hung
Sewer Central Heat Central Electric
Boat/Water Access None View Preserve
Kitchen Pantry Private Pool Yes
Pool Description Below Ground, Concrete, Heated Electric, Pool Bath Interior Features Built-in Cabinets, Cable Prewire, Custom Mirrors, Laundry Tub, Pantry, Smoke Detectors, Volume Ceiling, High Speed Available
Master Bath Descrip Dual Sinks, Jetted Tub, Separate Tub/Shower Private Spa Yes
Spa Description Below Ground, Concrete Equip/Appliance Incl Dishwasher, Disposal, Dryer, Intercom, Microwave, Range, Refrigerator/Ice, Smoke Detector, Washer
Guest House No Num of Ceiling Fans 4
Dining Description Breakfast Bar, Breakfast Room, Formal Approval Info Application Fee
Special Info Sell Disclose Avail, Survey Available Possession At Closing
Terms Buyer Finance/Cash

Presented By: Sande L Ellis RE/MAX Realty Group
Primary: 239-489-4042
Secondary:
Other:
   
E-mail: sande@topagent.com
7910 Summerlin Lakes Dr
Fort Myers, FL 33907
239-489-0444
May 2007 Web Page: http://www.TopAgent.com
   
Information has not been verified, is not guaranteed, and is subject to change.
Copyright ©2007 Rapattoni Corporation. All rights reserved.

As you can see, inventoty levels seem to have capped, which could be a good sign.  We won’t know for sure until we see a definite trend over a period of time.  It is encouraging to see inventory levels stop.  We predicted this would happen about now and start a slow decline.  This remains to be seen.  We do know that locally pending sales picked up a bit, and median home prices have been up 4 out of the last 5 months.  I think the next two months may give us a clearer sense of direction moving forward, so stay tuned.  We can all watch together.

The Ellis Team at RE/MAX Realty Group in Fort Myers Florida long ago developed a system that accurately gauges market activity relative to Supply levels, and we deemd this index the Current Market Index.  We developed this index because it helps tell the story of where we are today, not just where we’ve been with closed sales reports.  The higher the CMI Index, the more supply we have relative to demand.

May 17, 2007 Active Pending CMI
Single Family 15,607 1,107 14.10
Condo 9,205 560 16.44
April 15, 2007 Active Pending CMI
Single Family 15,896 1,152 13.80
Condo 9,660 569 16.98

January 23, 2007 Active Pending CMI
Single Family 13,769 1,016 13.55
Condo 9,002 529 17.02

November 27, 2006 Active Pending CMI
Single Family 13,186 1,031 12.79
Condo 8,344 535

15.60

Since January 2007 we also changed the MLS reporting system, as the MLS of Greater Fort Myers and the Beach became part of a larger system called MLS Alliance.  Local Boards no longer data share with each other, but rather this new entity.  We’ve tried to align the fields up accuratley to reflect the same data, even though each Board reports slightly differently.  We have no less than 6 Boards that post Lee County properties into this database, so it is broad based and very useful.

Blackhawk! This gorgeous 4 bedroom, 3 bath home defines character and charm. Arthur Rutenberg home features tile, french doors, plantation shutters, heated pool, mature landscaping and stunning water and nature views.

Suffice it to say the Ellis Team goes on it’s fair share of listings appointments in SW Florida, and we are in tune with what’s on the minds of home sellers.

Some sellers are logically tuned in to what’s going on in the SW Florida real estate market, some are in shock and awe, especially the ones who bought in 2005, some are happy and accept it is what it is, and some are downright fearful as they are in danger of losing their property.

While the Ellis Team goes on many listing appointments, we only take a small percentage of listings.  We only list properties when we feel we can help the seller.  In order for us to do that, the seller must price the property in-line with today’s market conditions, and must be willing to accept out expertise and advice.

Some sellers decide they’re going to sell for a certain price because that’s what they "Need" out of the property, or that’s what it’s "Worth" and somebody should just pay it.  When confronted with the facts, we’ve even heard some sellers say, "OK, it may not be worth that, but that’s what I want, and can’t you just find someone from up North who doesn’t know any better to pay it?" We explain that we actually have to sell a home three times in order to have a successful sale, so we better price it right upfront.

  1. It better be priced correctly in MLS, or other agents won’t even show the property as they have a choice of thousands of properties to choose from when showing their customers, and they usually picked the Best values.  If your home isn’t priced right, it won’t get shown by other agents.
  2. The buyer is the one who is out there looking at maybe 20 properties before making a decision to buy.  Your home or condo is in competition with all the other thousands of properties on the market right now, so it better be priced in-line with other comparable properties, or the buyer will just buy something else.
  3. Lastly, even if we’re successful getting agents to show the property, and the buyer to accept that your property is the "Best" value available, the bank will still require an appraisal.  Banks are skeptical not lend more money than the property is worth.  Foreclosures are rising, and banks know that property values have declined since 2005.  Banks lending money will require an appraisal, and sometimes two before they lend in today’s market.  Your home must be in-line with Sold data, not just what other active sellers are "Asking" for their property.

This brings me back to Sellers "must be willing to accept out expertise and advice."  If the seller is willing to price the property correctly, they must also be willing to allow us to do our job and sell the property for them.  Sometimes sellers get in their own way by listening to other so-called experts about how to sell a property.  Perhaps a neighbor gave them advice on something that worked for them in the past or a friend or relative tells them something they should do.  Some ideas are good, and should be part of a pro-active marketing campaign to sell your home.  Other ideas are not proven or time tested, and frankly some are just off the wall and do not work.

It takes two things to sell a home in today’s market.  Aggressive Marketing and Aggressive Pricing.  One without the other isn’t good enough.  Ultimately the seller controls the price, while the Market determines the Value.  When price meets value, the property has a chance to sell, if buyers are aware of the property.  This is where aggressive marketing comes in, and this is what a good Realtor brings to the table.

Lastly, sellers control the marketing by the agent they select to market the property.  Sellers should be careful not to micro-manage the marketing as the seller is usually emotionally attached to the outcome, and the least prepared to know what actually works in selling a home.  This doesn’t mean you shouldn’t ask questions of your agent.  It pays to ask these Most Important questions upfront in the listing interview.  Hiring the right agent the first time will save you much time, effort, money, and worry.  Hire the best agent, and then listen to their advice.

Soon we’ll have a follow-up article on pricing.