Cape Coral Real Estate Archives - Page 28 of 63 - Fort Myers Real Estate and Homes For Sale

Everybody seems to agree that the best negotiations are when it’s a win-win situation for buyer and seller. And yet, most buyers and sellers negotiate from a win-lose proposition. Everybody wants to win, and they don’t care if it’s at the expense of the other party. Furthermore, if the other party doesn’t lose, some people don’t feel as if they’ve won. They feel like they left money on the table. New program helps sellers net more money at closing and buyers save more money too at closing.

Other buyers and sellers are just happy to get a deal done that works. Perhaps a financed buyer would love to purchase a home but keeps getting beat out by cash buyers or other buyers putting more down. Other buyers have the down payment saved up; they just don’t have the closing costs saved on top of it.

Typically, a buyer might ask for the seller to pick-up and pay for some or all the buyer’s closing costs. Not out of greed, rather out of necessity. This costs the seller money to do this. If the home appraises at the higher price, they could have sold to someone else and not paid their closing costs. It’s a way to put a deal together, but if the seller has other options they usually choose the other option.

What if the buyer needs help with closing costs and the seller didn’t have to pay it? The seller could keep the sale at full-price and net all the proceeds. The buyer wouldn’t have to pay them either. So, you might ask, if seller isn’t paying, and buyer isn’t paying, who is paying?

What if lender fees didn’t need to be paid at all? What if they weren’t charged? We’ve seen some lenders who don’t charge lender fees and they make up for it in a higher rate. In that case, the buyer ultimately pays. We’re talking about a low rate without higher premium and no lender fees. Add in a closing credit to the buyer, and you’ve got the best of both worlds.

Win-Win

This is taking win-win to a new level. Even for buyers who don’t need help with closing costs, this is a win. Anytime the buyer can save thousands in closing costs it’s a win. The cost savings may help the buyer purchase more house, which may make the difference between getting that extra bedroom or family pool. We’re able to help buyers qualify for more home which brings more buyers to the table for sellers.

Sellers not only benefit on the sale of their home, we can also offer this to them on their next purchase. Sellers save money by not having to pay for buyer closing costs, and they can save money on their next purchase. Imagine saving $5,000 or more on your next loan.

So, what’s the catch? No catch really. Not everyone can offer this. If we’re the listing agent, we can offer it to the buyer, no matter who the buyer is working with. If you’re the buyer, you must work with a Keller Williams Realty agent. It’s pretty simple. Loans close on-time, buyers save money, and sellers win too because they get to keep more money at closing.

Buyer saves money, seller saves money, and everybody wins. Now that’s a deal that’s hard to refuse, and why would you? Simply give us a call at 239-489-4042

Feel free to search the MLS like a pro at www.LeeCountyOnline.com When you find something you like, give our agents a call and we’ll get you on your way to your dream home. Better yet, let’s get you pre-approved upfront. That way you can go shopping knowing you’ll save money, close within 30 days, and your offer will more likely be accepted because you’re approved, not just pre-qualified. If you’ve got questions, give our team a call. We’ll be glad to help!

Ellis Team Weekend Open Houses

Danforth Lakes Open House Saturday 1-3 PM

Whiskey Creek Open House Sunday 1-3 PM

Cape Coral Waterfront Condo Open House Sunday 1-3 PM

Like clockwork Lee County summer real estate sales are heating up. So why aren’t Lee County home sellers jumping for joy? Many home sellers are happy, because their home was on the market all season and now it’s selling. Others are happy because their home just sold while their neighbor’s home sits on the market.

This past season we saw many sellers priced at one point while the buyer’s perception of value was at another. In many cases, the seller’s perception exceeded the buyer’s perception by 10% or more. Sellers didn’t want to accept this reality, so homes sat on the market. You’ll always have some sellers that refuse to accept today’s market prices, but when you have many, it causes the market to take note and listen.

The market always speaks to us. It’s up to us if we’re ready to listen. We’re humans, and we don’t always want to accept change. For those that accept change and react quicker, the opportunity is the greatest.

Right now, home sales are brisk $300,000 and below. This makes sense because that’s where the bulk of the buyers are. That’s what more people can afford. We just pulled up the 7-day market watch from MLS, and we notice there more pending sales (379) than new listings (365). You’ll notice too there were more price reductions (385) than either. These price reductions are leading to more pending sales as sellers get their home down to where the buyers are.

Selling a home is kind of like fishing. If you place your bait 20 ft above where the fish are, you get nothing. Lowering the bait 10 ft above where the fish are still yields nothing. Fish tend to swim in schools. You’ve got to place the bait where the fish are, not where you want them to be. Pricing a home is the same.

If you price your home above where the buyers are, they don’t even look at it. Typically, you should expect an offer with every 4-5 showings. If you’re not getting offers, your home is probably still overpriced. Sellers say, “We just reduced our price $10,000” so that can’t be it. It can. If you were $30,000 overpriced, that $10,000 reduction still places you 20 ft above the fish. Until you get down where the fish are, you’ll attract few showings and little to no offers.

Of the 379 new pending sales, the median price was $249,000. The average price was $335,540. This confirms the $300,000 range and below as being the sought-after part of the market. If you have a home $400,000 or more on the market right now, you’re probably still fishing for the correct asking price. You may be wondering why buyers just are not accepting your price. Your neighbor’s home may be sitting on the market too. Occasionally one will sell, and you’ll be wondering what they did to attract that buyer.

It takes aggressive marketing. Aggressive marketing alone won’t work. Together with your agent, you’ll need to adjust that bait until you find where the fish are. When you do, it will sell. The SW Florida real estate market isn’t suffering from a lack of buyers. The buyers are not aligned with some sellers’ asking prices. When the seller gets down to where the buyers are, the buyers are biting. This past week or so the Ellis Team has placed 7 properties under contract. Some agents believe the summer is the slow time, but that’s a bad assumption. We have buyers in all price ranges. We just closed a property over $1 Million.

The agents out there hustling are selling homes. It’s a great time to sell, so long as you’re willing to price your home at the market. Isn’t that always the case though? Together with your agent you should ask yourself, “Am I willing to price my home at a price that will cause it to sell?” If the answer is no, then why are you putting it on the market?

If you’d like to talk to Sande or Brett Ellis about selling your home, call us at 239-489-4042 Ext 4. Next week we hope to share some exciting news that may make your home stand out and sell faster. Find out what your home is worth online.

Search the MLS like a Pro! Get real-time updates, price changes, new listings, and All the MLS listings.

Don’t forget our Neighborhood Market Reports

As real estate agents I think we tend to forget that people really don’t know how to sell their home. What seems basic to a veteran agent is not basic to all, and even many newer agents don’t know all the best tips. We decided to cover 8 seller mistakes when putting home on the market.

Don’t be present for showings. If you absolutely must be home for showings, don’t say a word. Take a walk, drive around the block, or anywhere you can to avoid conversation with the buyers. Sellers believe they know their home better than anyone; therefore, they can sell it better than anyone. Be aware of the $1,000 rule. Practically every word you speak to the buyers costs you $1,000. I’d say try it, but it’ll cost you.
Don’t photograph everything. There is no rule you must provide a photo of everything. Leave a little to the imagination. Make them want to get inside and see everything. Most bathrooms don’t need to be photographed, unless they are spectacular, stand out, and are a selling feature.
Set correct listing price and negotiate firm. You’ll get a better sales price if you set the correct list price. Overpricing drives buyers away. You’re not going to fool a buyer today, so you might as well price correctly upfront. Buyers typically don’t want to insult a seller, so they just move on to other better values. Or worse yet, they never view inside of your home because it’s not on their radar.
Select the best agent to market your home, not the least expensive. Selecting the least expensive can cost you thousands. It’s not what an agent charges that matters, it’s what ends up in your pocket at closing. All Realtors are not the same. Some agents sell homes faster and for more money. Enough to cover the difference in rate, and then some.
Make your home accessible. We live in the online age. People expect fast access, both online and in person. Some buyers are buying today and won’t come back tomorrow just to see your home. By the time your home is available and picked up, they bought something else. It just repeats with the next buyer.
Check with your condo or HOA. There are many required disclosures and documents you must pass on to buyer at contract. Failure to do so can cost you a sale. Get these documents upfront. It’s a pain, but you’re going to have to do it anyway, so don’t lose a buyer and get them now.
Disclose defects. Better yet, repair problems so next buyer doesn’t have to deal with it. Most buyers want a problem free home. They want to move in and not have to repair a bunch of things. Their time and budget is stretched enough, and having to repair other peoples’ existing issues kind of takes the fun out of home shopping. If you don’t want to do the repair, chances are you next buyer may not either.
Market your home everywhere! Newspaper, online, social media, etc. Make sure your home is target marketed to home buyers looking for what you have. Throwing a sign out there and posting on an online site won’t cut it. Everyone does that. You want to stand out.

Wish we had more room. If you’re thinking of selling, always call the Ellis Team. We’ll go over our entire list and expose your home to more people. Call Sande or Brett Ellis 239-489-4042 Ext 4 To search the MLS like a pro, visit www.LeeCountyOnline.com

Don’t forget to vote us Best Real Estate Team in SW Florida in News Press Reader Poll. www.Bestswfl.com

Ellis Team Weekend Open Houses

Open House Sunday 1-3 PM

Reflection Lakes 5 Bed 3 Bath Pool Home on Lake

Large Reflection Lakes Pool home priced to sell and ready to go

13994 Reflection Lakes Dr

Open House Sunday 1-3 PM

Bella Lago 4 Bed 3 Bath Pool Home

3 Car Garage, kirkland garage door service installed the door, Granite Counters, and more

19790 Maddelana

Open House Sunday 1-4 PM

Cape Coral Direct Access Waterfront Pool Home

Direct Access Cape Coral Waterfront Pool Home

1933 SE 36th St

We were having a one on one training session with one of our agents this week and the conversation came up about summer home sales. He was excited because he thought this summer was going to be good for home sales. And yet, so many agents out there talk about spending summers up north and taking time off because sales are slow in the summer. Their perception becomes their reality.

If they believe sales are slow and take the summer off, sure enough, their sales will be slow to non-existent. And they will be right, and their decision to take the summer off will have been justified. Over the years my mother Sande and I would just laugh, as we raked in sale after sale in the summer. For us, year-round sales were good, and summer was better.

I went back and looked at MLS sales stats from 2000-2003. As you can tell, home sales would begin climbing in Feb and generally peak during the summer. After 2005 we began a steep decline in prices which ultimately led to the foreclosure crisis. This article isn’t about all that. We have plenty of other articles on our Blog about that. During the recovery, the typical home buyer changed.

We see signs that we’re returning to the normal home buyer process. It would be too easy to assume that all home buyers relocated from up north. For a period, it seemed that way, but things are not always as they seem.

Traditionally Southwest Florida homeowners made their moves in the summer. They owned businesses or worked in the service industry and were quite frankly too busy in season to think about moving. Kids were in school, work was busy, and buying or selling a home couldn’t be the top priority, until summer came.

Keep in mind, summer is the busy selling season up north too, so any relocations were dependent on that sale up north.

After the housing correction, many SW Florida homeowners were trapped in their homes. They couldn’t make a move. They lost so much equity they couldn’t afford to sell, and they were busy working on their businesses too that may have suffered. As years have progressed, we’re seeing signs now that many homeowners are choosing to make a move. They finally have equity back in their home. Their incomes have returned to normalcy.

Some wish to downsize, while others have growing families. Many homeowners wish to change lifestyle or prefer a different location. Whatever their reason, summertime is the best time for locals to address their situation.

Our agent was correct. Summertime is a great time for home sales, if you’re present and working the market. The numbers don’t lie. Sales are happening in the summer. The only real question is who’s going to make them.

I remember hearing an agent say years ago that nobody wanted to buy in Lehigh. Really? I looked in MLS and found there were lots of sales in Lehigh, so clearly somebody was buying there. The truth is, that agent didn’t want to sell in Lehigh because they didn’t know the market, it was too far out, or they didn’t like the price point. The reality is that agent found a way to justify why not to sell. It’s like the argument that nobody buys in the summer. If you want to tell yourself that, then indeed sales will be down for you, and you’ll be right.

Many sellers need to sell in the summer. Realize that home sales occur all months of the year, and really any month is a good time to sell if your home is priced correctly and marketed heavily. Sure, a hurricane might disrupt a month here or there, but overall, we have a pretty stable and steady market.

To shop for your dream home, go to www.LeeCountyOnline.com If you have a home to sell, call Brett or Sande Ellis 239-489-4042 Ext 4. And don’t forget to vote us Best Real Estate Team in SW Florida in the News Press poll. www.bestswfl.com

Good luck and happy home selling!

Ellis Team Weekend Open Houses

Between McGregor and the River

Open Saturday 1-3 PM

1281 Biltmore Dr

Parker Lakes Pool Home

Open House Sunday 1-3 PM

14941 Lake Olive Dr

Waterfront Condo With Boat Slip Availability

Open House Sunday 1-3 PM

1627 Beach Parkway Unit 208

April was a strong month in the Southwest Florida real estate sales market. Closed sales were up 23% over last year, and that’s not all. Not only were the number of sales up, so were the prices. The median price was up 5.4% in April to $262,500, up from $249,000 the previous year. The average sales price was up 8.1%

Because the number of homes closed was up, and prices were up, naturally too was the total volume of sales. Total volume this April was $545 Million, up from $410 Million last year. That’s a 32.9% increase. We’ve mentioned in previous articles that top agents across SW Florida are reporting an increase in their business this season over last.

So, does this mean the market is shooting up? If you read the headlines, you would think so. Pockets of the market are doing well and other pockets not so much. We believe May numbers could be good too when they are released next month, only because our numbers are better than last years. That doesn’t mean a good April and May will translate to the whole year, nor to every neighborhood and price range.

One thing the latest numbers show us is new listings are up 19.8%. Inventory is up 5.1%. This is one of the reasons you’re seeing more sales, because we finally have more property available for buyers. The hottest segment of the market is below $400,000, and some would say lower than that. If you look at the chart, we’ve seen a tremendous increase of new listings in that affordable range. When that happens, sales increase.

Homes priced over $400k are just not as hot right now. Sure, we had some April sales because it was season. Those closed sales occurred in February and March. Since then we’re not seeing as many. We are seeing sales across all prices ranges for homes that are priced correctly. Because the market is shifting right now, it’s sometimes hard to get a fix on what is priced correctly and what isn’t.

Showings in May are down. And yet, many homes are still selling. If your home is getting lots of showings, it’s probably priced close to the market. If not, you’re probably priced over the market.

Last week I went out to preview new builder inventory. As a Realtor we see the incentives the public doesn’t always see. Home builders want to get as much money as they can for their homes. However, home builders are less emotional and react quicker to market changes than regular sellers. Home builders are not emotional like a home seller is. They have no ties to the property. It’s just a number to them. Granted, they want that number to be the highest it can be.

I was amazed at some of the prices I saw. Builders are not lowering because they’re kind. They’re lowering because they are seeing changes. New construction pricing and incentives affects resale pricing.

Sellers need to know that buyers don’t just look at one home. They look at 20 or more, and online sometimes it’s hundreds. They learn the market. They’re using sites like www.LeeCountyOnline.com and seeing all the listings in real-time. Fairly quickly they can see what’s going on and make decisions. Sellers tend to set a price and forget about it. They get mad at their Realtor, mad at their neighbor who just reduced their price, and mad at the market when it doesn’t sell. Instead of getting mad, we’d like to see you have success. When your price matches the market, it will sell, assuming it’s marketed correctly.

If you’re looking to sell your home, please call Sande or Brett Ellis 239-489-4042 Ext 4. We can help you purchase too. And don’t forget to vote for us as best real estate team in SW Florida. We’re going for a 3 peat and could use your vote.

Top Real Estate Bargains in SW Florida

See homes in Southwest Florida $300,000 and below

Home prices in Southwest Florida have been stagnant for the better part of a year now, but nobody believes it because headlines tell us how wonderful homes are appreciating in Florida. We were waiting to see how season went to see if that trend would continue. What we found is more of the same, SW Florida home price gains remain elusive compared to Florida in general.

The Cape Coral- Fort Myers MSA median home prices increased .6% in the 1^st quarter compared to 9.7% statewide. Our condos and townhouses showed no price change whatsoever from last year, compared to 7.8% gain for the state. Cape Coral-Fort Myers is the 6^th largest MSA in the state, and yet each of the 5 larger MSA’s all had gains of 4.8% or better. Some much higher.

We go on listing appointments where the seller believes their home has appreciated 9% in value each of the past few years. Unfortunately, if you interview enough agents you will find one that agrees with you and takes the listing. Getting the listing isn’t the end of the sales process, it’s simply the first step. The seller sets the price and the market determines its value.

If a seller sets the wrong price, one thing happens, doesn’t it? You guessed it, it sits on the market like a lonely school child watching all the other kids play. Oh, it may have some friends. Misery loves company. They hang out with all the other kids who have overpriced their home too. The strange thing is, nobody really wants to be in this club.

So, they turn on each other, and start lowering their prices to get out of the club. Each watch what the other is doing, looking over their shoulder each time they make a reduction. The only problem is, they’re looking the wrong direction. They should be looking at all the kids playing. Wherever that group is, that’s where they should head. While they’re busy looking over their shoulder at where they’ve been, their eye still isn’t on the market. It’s looking backward instead of forward.

The market rarely sits idle. It is moving. While they’re looking over their shoulder, the moving target in front of them just moved someplace else. Wouldn’t it save so much time to just find that group of kids on the playground and get right in there? Skipping a half mile behind them means you did spend time on the playground, but when recess is over, you never had any fun. If you’re going to the trouble of placing your home on the market, you want results. The quicker you get there, the more fun you have. If the market is on the move, you never want to get caught chasing the market.

Chasing will not only wear you out, it can cost you money. When all the overpriced homes figure it out and finally make their move, you now have more competition. Setting your home price correctly upfront and reacting quickly if it doesn’t sell is a recipe for faster to the fun.

If you’re thinking of selling in the next year, check out www.SWFLhomevalues.com You’ll be able to get approximate current values for your home. Of course, to be most accurate, always call Sande or Brett Ellis and we’ll be happy to come out and view your home and tell you what we think it would sell for. You might have some questions about how the process works, timing, or where you would move to. We’d be happy to sit down and discuss all this with you. You’re more than a transaction to us. We’re interested in getting you to your next destination safely. Hopefully you’ll have some fun on the playground while we sell your home for you. Call Brett or Sande at 239-489-4042 Ext 4

Good luck and happy selling!

Ellis Team Weekend Open Houses

Open House Saturday 1-3 PM

Parker Lakes Pool Home $300,000

14941 Lake Olive Dr

Open House Sunday 1-4 PM

13460 Marquette Blvd 3 Bed 2 Bath Waterfront Home

Unbelievable changes are coming. I remember having a conversation the other day. I told my wife that our kids would freak out if we told them we didn’t have Internet growing up as kids. The Internet today just seems fundamental, and certainly to a Millennial, they wouldn’t understand the concept of its absence. Just as the Internet changed our lives, so too will artificial intelligence. Artificial intelligence will change real estate shopping and everything else too.

I just watched a live video whereby you take out your smartphone and open the camera. In your screen is a lamp. Your phone will show you other accessories that match that style, so you could shop for and put together a room that matches. I watched another video where the camera showed a woman in an outfit. Artificial intelligence scanned billions of images and within a second pulled up where you could buy that outfit, along with other similar outfits, and prices.

So, imagine walking down the street and noticing a home that looks good to you. It’s not for sale, but you like the look. Your phone could instantly find other homes on the market right now that look just like the one you love, show you the price, and even setup a showing appointment to see it. Sound futuristic? Perhaps, but it is coming.

Keller Williams has already been working on this for its agents. Currently I can ask our artificial assistant Kelle many things, and instantly she will give me results that used to take hours. Let’s say I have a client moving to Bowling Green, KY. I whip out my phone and tell Kelle, “show me Bowling Green agents with the CRS designation.” Kelle spits out agents with their CRS designation. There is a ton of activities I can ask Kelle to do while I’m in the field and Kelle only gets smarter. As we ask her to do things, she learns and becomes capable of more.

Google held its I/O conference this week and announced some amazing things. Companies like Google, Microsoft, IBM, etc are all working on artificial intelligence.

Artificial intelligence offers the ability to ask, scan, analyze, and deliver billions of pieces of information instantly. Our military is scanning and analyzing photos on video and delivering results with over 90% accuracy. It used to take people days and months to scour video. Now our defense department can search for and do things in minutes.

Our company is working on analyzing photos in MLS. Let’s say you like a certain kind of counter-top, or a certain color cabinet. We’ll be able to ask, show me all kitchens with Black Quartz priced below $450,000. Having the ability to scan photos and deliver results would save an agent or consumer many hours perusing photos of listings.

We use big data to search for buyers for our listings. When we list a home, we serve up ads on that home to consumers that match certain criteria. For instance, we just listed a nice 4-bedroom pool home in Belle Lago. We’ll be holding it open this Saturday from 1-3 PM. We’ll serve up online ads for buyers looking to purchase in the Estero area. Big data allows us to target specific buyers. It helps us sell homes faster and for more money for our clients.

Big data is great, but artificial intelligence is what will tie it together. The pentagon can have all the videos it wants, but what good is it when it sits in a vault and is too big to work with? The same is true for real estate. Being able to ask and analyze data is key. Many sellers interview agents and ask which one can save them 1%. The real question should be, which agent can sell my home for 3% more and 20% faster. Saving 1% doesn’t save anything if they sell it for less and take longer.

If you want to search the MLS like a pro go to www.LeeCountyOnline.com.

If you’re thinking of selling, call Sande or Brett Ellis 239-489-4042 and find out how Today’s systems just might help sell your home faster, and for more money.

Ellis Team Weekend Open Houses

Belle Lago

Open Saturday 1-3 PM

19790 Maddelena Cir

Daniels Park

Open Saturday 1-4 PM

14077 Danpark Loop

Official sales numbers are out, and Southwest Florida housing median home prices rose 2% past year. March 2018 median home price came in at $260,000, up from $255,000 last year. All year we’ve been saying home prices have been flat since about June, so this was a nice rise albeit a moderate rise. Average home prices were up 4.1% to $375,895, up from $361,082 last year.

The number of home sales were down 2.7% in March versus last year. So, what is the takeaway from these numbers? Statistically we have a balanced market neither favoring the buyer or the seller. Of course, certain price ranges and neighborhoods can vary. These are what we call sub-markets.

All real estate is local. It doesn’t matter if you’re in Pittsburgh PA, Peoria IL, or, Cleveland OH. What’s true in one market can be different in another. What’s true in one market can be different in a sub-market of that same market. Therefore, it’s important to work with a seasoned Realtor with experience in the market you’re looking. While I believe the Ellis Team are some of the best agents around, we wouldn’t be in another town like Pensacola or Jacksonville. Sure, we’re licensed Florida agents and can serve you anywhere in Florida, but is that wise?

By the same token, national websites cannot help you like a good local one can. www.LeeCountyOnline.com is the best local SW Florida real estate website for several reasons. It has all the listings, and it’s updated instantly. Other large national websites don’t have all the listings, and many of the listings they do have offer incomplete or inaccurate data. We’ve had calls on our own listing and the condo or HOA fee is completely wrong on the national sites. It’s correct on our website.

We’ve had calls on a property that wasn’t on the market from one of the national sites. Turns out the property sold three times since the listing they found. We have no idea how they could have a listing from a decade ago on their site. You’d think they’d at least get the last listing, not three before it.

Selecting the wrong agent to work with you can be a costly mistake. Sometimes people choose to work with a friend or relative to purchase a home. When you find out you bought the wrong home, or paid too much for it, it can be frustrating. Or worse, when you lose the home over an inspection issue that could have been handled with a little experience and know-how. There’s no substitute for hard work, and experience.

Choosing the right lender is important too. Some lenders have high fees, while others are notorious for rigid underwriting requirements and not getting loans closed. Experienced Realtors know which lenders perform what they say, on time, and where the best rates are. Did you know most lenders have extra requirements they place on buyers? They’re called overlays. We work with lenders that offer little or no overlays, so the buyer can be approved almost instantly. Buyers hate all the documentation and hoops banks make you jump through just to get a loan.

Insurance is another big issue. A large homeowner’s or flood premium increases your monthly payment. This can alter how much home you can afford. Remember, you’re approved for a total payment amount. Why let insurance eat away at your purchasing power? We know a few good insurance agents we keep in our pocket. It helps our buyers beat out other buyers to the best properties.

Between having the most accurate and timely information, getting the loan the easy way, and best prices on insurance, we turn the home buying process into fun! This way you can concentrate on shopping for a home which is the fun part. We’ll handle all the other details, so you can get your loan, save money, and enjoy that great house you just found. And you’ll be smiling because you got it and the other buyers didn’t. Always call the Ellis Team at Keller Williams Realty 239-489-4042

Ellis Team Weekend Open Houses

Open House Saturday 1-3 PM

Belle Lago 19790 Maddelena Cir

Daniels Park Home Open Saturday 1-4 PM

Coming Soon

In February we reported that the housing supply in Southwest Florida stood at 5.48 months. We are happy to report the Southwest Florida housing supply declines since February, down to 5.28 months. This occurred for two reasons.

Active inventory fell from 5,705 homes for sale in February down to 5,552 in late April. Closed sales in last 365 days back in February were 12,487. Today that number rose to 12,612. Both statistics helped reduce the months’ supply of inventory in SW Florida.

Sometimes sales are low because of rising prices, and sometimes they’re low simply because there isn’t enough inventory. Inventory has grown in the last few years a bit. Closed sales fell 2.7% in March from previous year. Closed sales in February were up 10.7%, and its possible closed sales in April are up too which affects that number. We won’t have official closed sales numbers for April until late May.

In almost all price ranges housing supply fell except for the $200-$250k price range, which actually grew from 3.72 months’ supply to 3.85 months’ supply.

These numbers tell us our market is balanced and healthy. Most experts agree that a balanced market is around 5.5 months supply. At 5.28 months we’re right there.

Of course, markets vary by neighborhood amenities, location, price range, and more. The chart shows you how each price range is faring right now. Obviously, it you have a $1 Million plus home, it will take longer to sell on average than lower priced homes. There just aren’t as many buyers as there are sellers. The Ellis Team just sold a $1.1 Million condo in Gulf Harbour in 122 days. It takes aggressive marketing and proper pricing to make that happen. Currently there are 6 active listings in this building and no pending sales.

We’ve had a great season so far. Our sales have doubled over last year even though the Board of Realtors membership has only increased 4.3%. I’ve spoken with a few other top agents who are also having a banner year. This tells us that experienced agents who spend money advertising and have been through up, down, and sideways markets are getting it done. Experienced agents have the knowledge to navigate their sellers though any kind of market.

Listing your home with a family friend, neighbor, or relative can cost you thousands on your sale, and might cost you a relationship as well. We don’t have the burden of trying to get the number you want or need. We can objectively investigate what the market is paying for your home. Then we target buyers online and through our networks to find that buyer. The days of sticking a sign out front or placing it in MLS and hoping someone will sell it are gone. To get Top Dollar you must go out and find the buyer.

If you’re a buyer, you want to know how prices are performing in a community, how fiscally solid the homeowners association is, and other factors that may be influencing the market. Working with a skilled, full-time, knowledgeable Realtor is key. You won’t realize how much it costs you to hire an inexperienced agent until you run into issues, and then it will be too late.

We’re keeping our eyes on interest rates in the coming weeks. If they rise it will put pressure on buyers to make a move this summer. They’ve already risen, and we believe there is room to rise much more over the next few years. Waiting to buy or sell will cost buyers and homeowners with higher rates and will put pressure on affordability.

We encourage you to check out www.LeeCountyOnline.com where you can search for all the homes on MLS. Or, you can call us at 239-489-4042. Ask for Sande or Brett Ellis if you’re thinking of selling.

Good luck and Happy House Hunting!

Ellis Team Weekend Open Houses

Whiskey Creek Open Saturday 1-3 PM

1455 Claret Ct

Reflection Lakes Open House Sunday 1-3 PM

13994 Reflection Lakes Dr

South Pointe South Open Sunday 1-3 PM

9721 Deerfoot Dr

We’re hearing from a lot of sellers who are concerned that their home has been on the market awhile and it didn’t sell this season. They’re calling asking how we market homes and what they can do to get their home sold before their listing expires. This article includes tips on how to sell your Florida home out of season.

How to Sell Your Florida Home Out of Season — Win the Beauty Contest

We get it. Sellers who weren’t successful are frustrated. The sellers who listed and sold are happy, and the ones who listed and sat are not. Putting your home on the market is a lot like entering a beauty contest. Even though your home is beautiful, it may get skipped over by other beautiful homes that compete more favorably. The other contestants take the prize. Two weeks pass by and another bevy of beauties hit the market before you get the chance to reduce your price. Your beautiful home never really got the chance to be the new beauty on the market.

Sometimes a new beauty comes on the market and it attracts multiple offers. Before you know it, it sells for full price, maybe even more. It’s frustrating to watch other homes take the crown while yours is left standing on stage. The good news I guess is that there’s a new beauty contest upcoming, but you’ve got to make some changes, or you’ll suffer the same fate as the last contest. After awhile they’ll start asking what’s wrong with you, why are you still here?

We’d like to help you avoid this madness. Before we begin, let’s just state that we too have some homes that occasionally don’t sell. When sellers take our advice, their home sells. You have to want to be the winner. Here’s our formula to win the next beauty contest.

Hire the right Realtor. Not all Realtors are the same. They don’t advertise the same, have the same number of leads, or have the experience necessary to lead you through the process. You’ve seen very talented teams lose the big game due to coaching mistakes. Hiring the right coach can make all the difference.
Price your home correctly. If the market doesn’t respond, adjust. The market doesn’t stand still, and neither does your competition. New homes enter the market, and existing homes make price adjustments. If you list a home and never change, you may get left on stage.
Make sure your home looks as good as it can. You don’t have to remodel. Simple things can make a big difference. Talk to us and discover how certain minor changes, can make a big difference in the judge’s eyes.
Listen to your Realtor. If you did the research and hired the best Realtor, it’s crazy not to take their advice. If you’re not going to listen to your Realtor, I guess it doesn’t matter who you hire.
Listen to the market. The market speaks to you. If you’re getting lots of showing but no offers, a small price adjustment may be necessary. If you’re not getting showings at all, you either have a large adjustment to make, or something is off with the marketing. Perhaps there is a field wrong in MLS. Is your home being advertised in the paper, online, and to other Realtors? Perhaps a highly advertised open house may be necessary.
Don’t be afraid to make a change. Sometimes owners list with a friend or relative. This is dangerous because they often want to please you. They may be afraid to tell you the market has shifted, or they may miss it because of their love for you. Listing with a friend or relative can destroy your relationship. If that is your situation, give us a call. We have a way of handling this for you and getting your home sold without offending your friend.

If you have a home to sell, we’d love to help you. Simply go to www.SWFLhomevalues.com and enter your address. We’ll provide you with a free online market evaluation. If you’d like to go to the next step, we can schedule a time to meet your and view your home. Or, you can always call Sande or Brett Ellis at 239-489-4042 Ext 4. Always Call the Ellis Team! We’ll get your home Sold!

Ellis Team Weekend Open Houses

Reflection Lakes – Open Sunday 1-4 PM

13994 Reflection Lakes Dr

14016 Shimmering Lakes Ct

Colony Lakes – Open Sunday 1-3 PM

16804 Colony Lakes Blvd

Ellis Team Weekend Open Houses

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Alva

Fort Myers

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Parker Lakes Pool Home

Waterfront Condo With Boat Slip Availability

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Daniels Park Home Open Saturday 1-4 PM

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Whiskey Creek Open Saturday 1-3 PM

Reflection Lakes Open House Sunday 1-3 PM

South Pointe South Open Sunday 1-3 PM

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Reflection Lakes – Open Sunday 1-4 PM

Colony Lakes – Open Sunday 1-3 PM

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