Florida real estate demand is heating up and we know it is coming from a few sources.  One obviously is low interest rates.  Who wouldn’t want to take advantage of these historic low rates if they could?  The other is heavy demand from northern buyers relocating to escape high state taxes.

Naples Relocation Patterns
Naples Florida Relocation Patterns

A recent report showed out of state buyers moving into Florida at a rate of 950 per day.  Florida has 67 counties.  You have to figure Lee County is one of the 10 largest counties by population.  It’s safe to assume Lee County is getting its fair share of those relocating from high tax states.

Let’s assume the top 10 counties are pulling half of the 950 daily relocations.  One tenth of 425 is 42.5.  Let’s cut that in half again and round that to 22.  If 22 people per day are moving to Lee County that equates to about 660 people per month.  Assuming an average family size of 3, 220 housing units would be needed per month in Lee County.

Florida Real Estate Demand Affects Housing Inventory

We have been witnessing our housing supply shrink each month as more contracts come in than new listings entering the market each month.  Lee County is down to a 2.36-month supply of homes which is the lowest I can remember in over 30 years practicing real estate in Lee County.

Florida Real Estate Demand Heats Up

Moving companies are reporting they have no more trucks available to move people out of New York City.  People cannot move out of there fast enough.  In Manhattan apartment vacancies are up 122% over last year.  Manhattan is not alone.  In fact, at Keller Williams we have intelligence that shows us where buyers are relocating from to our area.  I pulled up Naples in the system as an example to illustrate how this works.

Bonita Springs has different data from Naples which illustrates the point that each area attracts buyers from different areas.  The Ellis Team takes this data and advertises our listings in those markets.  What we find is a high level of lead conversion from those markets.  People up north are genuinely interested in leaving their state for Florida.

Everyone has their own reasons, and we hear them all.  Their reasons matter to them, and the first part of obtaining the lead is listening to the data.  When a seller hires us to sell their home, basically they are saying, “I don’t care where you find the buyer, just go out and get me some”.  Some Realtors aggressively market while other just place it on the MLS and pray someone else has a buyer.  The Ellis Team likes to go out and find the buyer.

Marketing Drives Sales

The best place to find the buyer is advertising where the buyers are.  We know many buyers are local, so we advertise heavily locally.  We also know many buyers are coming from out of state, so we advertise our listings in those cities where buyers are coming from.

I looked up the other day and we had 22 pending sales.  I wondered why we did not have 32 or 42 pending sales, and it dawned on me.  If we had more listings, we would have had 32 or 42 pending sales.  Our marketing is aggressive, and it is working.  The only thing it is lacking is inventory.  We can pare down this marketing at any time, but that would not be as fun.  We enjoy putting smiles on our seller faces when we bring them offers for top dollar.

If you have been thinking about selling your home, now might be the time.  You can call Brett or Sande Ellis at 239-489-4042 Ext 4 and we will be happy to sit down and evaluate your options. Or you can visit www.SWFLhomevalues.com to get an instant valuation of your property.

Do not let the best market we have ever seen pass you by.  Nobody knows how long this will last.  The Ellis Team is just a phone call away.  Good luck and Happy Selling!

See last week’s article “Seller’s Market Fuels Rise in Home Sale Prices

 

Closed home sales back on track after the covid-10 shutdown. 2020 started off with a bang, and then suddenly covid-19 hit, and Florida was under a shutdown or stay at home order.  People wondered what it would do to home sales and business in general for that matter.  We are happy to report closed homes sales are back on track after shutdown.

Closed home sales back after shutdown

In fact, July closed home sales eclipsed all three previous years.  Closed home sales could have been higher had we more inventory to sell.  3% interest rates are attracting buyers too, but now versus later.  Florida is also attracting buyers from other states.  America has decided Florida is definitely the place to be for various reasons.

The Ellis Team from the seller perspective has recently sold several properties, and quite naturally many of these homes had several offers on them.  A home marketed heavily attracts multiple buyers.  Today we will talk about what to look out for with multiple offers.

First off, if you are considering selling your home, you should call Brett or Sande Ellis.  Chances are we may already have a buyer for your home.  If we receive 4 offers on a home, only 1 buyer can win.  That means 3 other buyers still need a home.  We have a database of buyers looking to purchase right now, and possibly we could sell your home even before it hits the market.

Secondly, the offer a seller takes matters.  When you have multiple offers on a home, picking the winning buyer is a calculated risk.  If the buyer you choose doesn’t perform, you lost that buyer, and you might have lost the other buyers too.  In that time your home was off the market those other buyers could have found another home.  They are not going to sit around and see if your home goes through because they cannot afford to.  If another home meets their criteria, they need to jump on it because it will be gone soon too.

2020 is literally the best time perhaps ever to sell your home.  We have not seen interest rates this low, and we have not seen buyers so anxious to get into a home as we have during covid-19.  Covid-19 has created a nesting situation whereby people just want to hunker down at home.  They are not traveling like they used to, and their home becomes not only their living quarters, but also their entertainment center, work environment, etc.  The home is as important now as it’s ever been, and it’s affordable due to low interest rates.

Your home is a hot commodity right now.  Selecting the right agent to represent you is more important than ever.  You need an agent that can see the flaws in a deal before it happens.  That takes experience, and lots of it.  You do not want to lose a deal in the best-selling market we have ever seen.

Experienced agents know how obtain crucial facts from the buyer’s agent, and the buyer’s lender.  If a buyer does not cooperate, they probably will not win the bid.  Sellers look at the strongest offer.  The strongest offer isn’t always the highest bidder.  So much more goes into writing a strong offer.  The Ellis Team works with our buyers to write the strongest offer possible.  Because we’ve done so many seller sides over the years, we know what sellers are looking for.  Writing the offer in the best light upfront helps our buyers win more bids.

Brett or Sande would be happy to sit down with you and go over all the options in selling your home.  You do not have to do anything.  We like to present you with your options, and let you decide.

Call Sande or Brett 239-489-4042 Ext 4 or visit www.SWFLhomevalues.com to get an instant value of your home for Free.  If it looks good, Brett or Sande can validate the number and make sure it’s the correct for your home.

Good luck and enjoy the best-selling market we have ever seen!  If you are thinking about, we’d hate for you to miss this market.  Great selling markets do not last forever.

See last week’s article “Targeted Real Estate Advertising Selling Homes for Top Dollar

Ellis Team Newest Listings

Part of any successful advertising campaign should include the ability to identify and target people most likely to buy a product.  The Ellis Team uses targeted real estate advertising as an additional way to sell homes for top dollar.

Let’s say your company makes the best dog treats on the planet.  You would want to target pet owners, and more specifically dog owners.  It would do no good to target cat owners if cats do not like the treat.  When we list a property, we try to think like a buyer.  If I list an 800 sq. ft home, chances are 8 roommates are not going to buy it.

In the covid-19 era we know many people lost their job, so they are not in the market to purchase right now.  Others who kept their job may want to take advantage of the low rates.  Still others do not need a job to purchase.  It gets complicated.  What we do know is an owner has hired us to find a buyer for their property.

As aggressive real estate marketers the Ellis Team casts several nets.  Our newspaper, PPC, radio, TV, social media, and direct mail campaigns cast a wide net.  We advertise the property to anybody and everybody hoping to find one or more buyers who show interest.  We call this the shotgun approach.

Additionally, we cast tighter nets.  We call this the rifle approach.  Lately we have been targeting cities up North where we know buyers are selling and leaving.  We talk to agents daily who tell us they have sellers leaving their state and they are not coming back.  Florida is one of the areas they are moving to.  We have the ability to advertise our listings anywhere in the country.

Targeted Real Estate Advertising

Targeted Real Estate Advertising Selling Homes for Top Dollar

Targeted Real Estate Advertising Selling Homes for Top Dollar Wildginger Dr

The graphic shows two separate ads we ran this past weekend.  As you can see, these two ads generated 40 buyers in just one weekend.  Keep in mind, we are showing you just 2 of the out of town ads.  We may run more ads than 2, and we also run local ads for buyers who have an interest in real estate.  I count 61 buyers signed up just last weekend alone.

By casting multiple nets, we have been able to accumulate a significant amount of people interested in buying property here in SW Florida.  This data is useful because our team of buyer specialists can see what they are searching and call them with new properties entering the market.

It works like this.  Let’s say Sande or I go on a listing appointment and the seller wants to sell.  We know they will have their home ready next week to put on the market.  Our buyer agents can begin calling buyers in our database ahead of time letting them know that a seller will be listing their home next week in an area they are looking in.

We May Already Have a Buyer

Our team may already have the buyer for that listing.  We acquired that buyer through endless marketing, both during the time of the listing, and even before we took the listing.  Sellers benefit from the previous marketing our team has done because we keep the database of buyers.  This database is so valuable because it not only includes their name, email, and phone number, it also tells us what they are searching for and what they like.  Our agents can search the database and find buyers quickly.

Do not call us if your home is listed with another Realtor.  We offer this service for Ellis Team clients only.  We already know about the homes listed on the MLS.  Our buyers can see your home on our website. The Ellis Team proactively calls buyers when our team lists a new property to MLS.  Those sellers hired us, so those are the sellers we spring into action for.

If you’re thinking of selling and want to talk to us about the process, call Brett or Sande Ellis 239-489-4042 Ext 4, or visit www.SWFLhomevlaues.com for a Free instant online estimate of your home’s value.  Find out how targeted real estate advertising can help your home sell for top dollar too.

Good luck and Happy Selling!

See last week’s article “Total Real Estate Sales Volume Bounces Back for the Year

Ellis Team Open House

Open House Sunday 1-4 PM

14120 Reflection Lakes Dr

14120 Refletion Lakes Dr
Open House Sunday 1-4 PM in Reflection Lakes Fort Myers

New Listing – Video Walkthru

5259 Skylark Ct

 

Today we would like to tell you how real estate marketing trends are shifting to professional video tours. Professional videos make a property come alive through cinematography.  When done correctly, the viewer enjoys a cinema like experience using all senses while familiarizing them with the property.

Imagine if children could learn math through an interesting movie.  Movies capture our attention and interest.  Isn’t that the whole purpose of marketing?  The reason most companies do not offer professional video is because it costs money, and lots of it.

Real Estate Marketing Trends Shifting

The Ellis Team is introducing professional video tours on many of our properties.  We create a single property website for each property that has professional photos, a 3D tour of the home, and a professional video tour.

Video Tours

While the video is on each property’s single website, we also upload them to www.SWFLvideotours.com where they are seen by even larger audiences.  We also load the videos on our Facebook pages where it is seen all over the world and shared by others.  This is the true power of leverage.  To get these results, you must have professional video to start.

3D Tours

You have probably seen 3D video tours used by a few agents in SW Florida.  The Ellis Team uses them as well www.swfl360hometours.com because buyers can access and view a home at their leisure from anywhere in the world.  They have helped us sell many homes during the Coronavirus pandemic. 360 home tours allow the consumer to be in control.  Many buyers love them, while others want to be wowed and not worry about the technology used to view the home.  This is where captivating video comes in.  Just as some people learn better with visual and others like audible, the Ellis Team employs multiple streams of marketing to reach the consumer how they wish to view a property best.

If you like the 360 self-guided tour, we have that.  If you like professional still photos, we have that too.  Now we are introducing professional video tours, and recent real estate marketing trends suggest consumers love it.

We ran an ad online last week up North and 175 people watched the video on Facebook alone.  The interesting thing is many watched the entire video.  We believe adding video to our professional photography and 3D tours will be a real winner for home sellers.

Thinking of Selling?

If you are thinking about selling your home, we have some information about what may happen in the market in the next 6 months.  You may want to talk to Sande or Brett Ellis 239-489-40402 Ext 4 to find out how this will affect your property.

If you are curious about your home’s value but not sure you are ready to do something, we have an online value tool that is fairly accurate, instant, and Free.  Simple go to www.SWFLhomevalues.com and enter your address.  It will show you your home’s value along with comparable sales in the area.

To get your home professionally video graphed, call Brett or Sande and find out how we can help get your home sold for Top Dollar.  We are marketing locally and across the world with our digital platform and aggressive marketing campaign.  Ellis Team sales have increased in the middle of a pandemic.  We believe this is the result of hard work, top notch marketing, and aggressive lead generating by our team.  The Ellis Team is not sitting back and waiting for the market to come to us, we are taking it to the market.  Isn’t that the kind of Realtor you want working for you?  Don’t forget to check out the videos at www.swflvideotours.com

See last week’s article “Rapidly Changing market Conditions in SW Florida

Always call the Ellis Team at Keller Williams Realty 239-489-4042 Ext 4

Earlier this month we wrote an article that inventory supply was down to 3.09 months in SW Florida.  Less than 4 weeks later we want to update you about the rapidly changing market conditions in SW Florida.

Single family housing inventory supply is down to 2.70 months as of July 29th.  The rolling average of closed sales for the past 365 days has increased by 219 sales.  This is a sign that closed sales are picking up. Housing inventory fell by 372 homes.  That is a total swing of 592 homes, and all this happened in a 27-day period.

Rapidly Changing Market Conditions in SW Floridao

This is why we say we have rapidly changing market conditions in SW Florida. If you are a homeowner in forbearance, you are going to want to speak with a Realtor soon.   The six-month window that began back in April will expire in October.  For most borrowers, the lenders front loaded the forbearance.  This means you will have a balloon payment at the end of 6 months.  If it was difficult making the payment before, it will surely be difficult to make all 6 plus October’s payment.  The good news is most loans have equity.

What we found during previous financial hard times is many people did not act.  They put their head in the sand and ended up losing their home when the home could have been sold before foreclosure.   Back in the mid 2000’s some were short sales, but those sales were better than foreclosures on a seller’s record.

Today, if the homeowner has equity, it may not be a short sale.  You may be able to pay off the loan without a foreclosure.  Many homeowners believe this was a government protection and their credit will be fine.  The truth is your credit will not be fine, and they will foreclose if you go in default.  Speak with your lender, and definitely speak with a Realtor before it gets too late.

Sellers thinking about selling should keep in mind we have a great sellers’ market today.  What we don’t know is how long that will last.  We have more buyers buying today.  Florida is well positioned because we have buyers coming in from other states.  We also have record low interest rates.  The wildcard is the election and foreclosures.

We feel fortunate to be here in SW Florida.  We have a lot going for us.  The fact that people want to move here may mitigate some or most of the financial distress foreclosures would cause us.  Today is nothing like the foreclosure crisis we went through as we have end users for properties today.  We did not have that back in 2006-2010.

Hurricane Update

 For those of you that have a transaction pending, please get an insurance binder now.  We could have several storms lining up, and once we are in “the Box”, insurers can no longer write new policies.  You can assume an existing one.  One year we had hurricanes lined up for about 6 weeks.  There were very few days insurers could write new policies. It looks like we may see the same thing this year, so do not take that for granted.  It could stop your closing even if the storms are not coming here, and nobody wants that.

If you would like to talk to us about your home’s value and your situation, please call Brett or Sande Ellis 239-489-4042 Ext 4.  Or visit www.SWFLhomevalues.com to find out your home’s value instantly, for Free. We will analyze your situation and discuss your options.  Good luck and stay safe this hurricane season.

See last week’s article “Timely Real Estate Trends We Are Keeping an Eye On

3 Things We are Watching in SW Florida real Estate Market

Today we would like to share with you three timely real estate trends we are keeping an eye on in SW Florida.

Timely Real Estate Trends

The first is median time to contract.  This is the amount of time it takes the average property to go under contract for sale.  As you can see from the chart, it rose to 79 days.  That is a 11.3% rise from last year in June, and up considerably from May’s 47 days.  For the year however, we are still at 64 days, which is down 9.9%.  We will be keeping our eye on this metric.

Timely Real Estate Trends Median Time to Contract

Secondly, we are looking at new pending sales which were up 28.3% in June.  Some of this is pent-up demand from the previous months and some is the fact that interest rates are at historic lows.  Buyers do not want to miss out on this opportunity.

Timely Real Estate Trends New Pending Sales

Lastly, we are looking at new listing inventory.  New listings rose 9.6% in June 2020 over June 2019.  The issue is, new pending home sales were up 28.3% in June and up 2.2% in May, while new listings were down 1.6% in May and down 33.7% in April.

New Listings June 2020 Timely Real Estate Trends

You cannot have new listings down over 30% and new pending sales up 28% without it eating into existing inventory.  Existing stood at 4,090 listings in June, which was down 28.5% from last year.  This is a direct correlation between the three metrics we are analyzing in this article.

It is possible this market just re-balanced to the levels we are at today.  Or, it could be that sales are not higher than they are simply because there is not enough inventory to sell.  In other words, perhaps sales would be higher if there was more inventory.

We are seeing the most housing inventory gains coming in the $250,000-$300,000 range and in the $400,000 and up range.  Inventory is down below $250,000 and flat between $300,000-$400,000 in Lee County single family homes market.

Other Timely Real Estate Trends

Another trend we are seeing is agents from Miami coming over here with their clients and attempting to sell property over here.  Official June numbers show Palm Beach, Broward, and Miami-Dade areas with 3.9 months supply of homes on the market.  Lee County has 3.6 months, so technically we have less supply than they do relative to number of home sales.  It is possible they dipped recently and are sniffing over here for available properties to sell.

We saw this trend back around 2005.  It’s not fun because usually they have pre-qualification letters from Miami based lenders and we did not always find them to be legitimate.  More times than not, those buyers failed to qualify even though they had an out of town lender tell us they were golden.  It got so bad that local Realtors would require a local lender look at the buyer to make sure they were indeed qualified.  When I look at a pre-approval letter, I want to know that buyer can perform before taking it off the market for our seller.

The buyer may have been qualified, who knows.  In the end, the lender could not get the job done, and that gave agents fits because they worked so hard to find a qualified buyer only to find out they weren’t qualified, or the lender couldn’t perform.

No matter where you purchase, we tell customers to use a local lender, or a national lender with a reputation for results.  Otherwise local agents won’t trust your pre-approval letter and your offer may not get accepted, especially if there are multiple offers.  You do not have to use the local lender, just get a pre-approval from one so the sellers know you are qualified.

Realtor You Hire Matters

In a shifting market, the Realtor you hire matters.  This is true on the buying and selling side.  Always work with an agent that has years of experience in all kinds of markets, and several hundred if not thousands of homes under their belt.  The Realtor makes good money, and they are worth every penny when you need them.  It’s times like this when you really need experience you can count on.

Feel free to call Brett and Sande Ellis 239-489-4042 Ext 4.  We’re here to help.  Or visit www.swflhomevalues.com for a free home value analysis.

See last week’s article “Refinance Existing Home Versus Sell and Purchase New Home

Watch the Future of Real Estate

With rates dipping to historic lows we get this question a lot.  Should homeowners refinance their existing home versus sell and purchase a new home?

Refinance Existing Home Versus Sell and Purchase New Home

We can make a compelling argument for both.  The best answer depends on your situation.  Odds are, you should probably do something.  If you are happy in your home, it meets your needs, and you plan on being there awhile you might consider refinancing.

If you have outgrown your home, or your home is too much work for you, you might consider a sale.  Inventory is low right now, so it is a great time to sell.  Not only will you be selling in a seller’s market, you will also be financing your next home into one of the lowest interest rate environments we have ever seen.  Of course, inventory is low, so we must make sure you have a home to go to.

Refinance Existing Home Versus Sell and Purchase

Let us throw out a possible scenario.  A homeowner owes about $274,000 on a 1st mortgage and about $243,000 on a line of credit.  Total debt is about $517,000.  Conventional loan limits are set at $510,000, so if this homeowner wants to refinance, it’d be best to pay down $7,000 to get down to the $510,000 limit, otherwise it would be a jumbo loan and priced differently.

The principal and interest payment currently is $2,756.  A new loan at 2.75% would have P&I payment of $2,082.  That is a monthly savings of $674.  Most of that is due to the lower rate.  $28.58 of that is due to paying down $7,000 to get to the conventional loan limit.

This homeowner now has a decision to make.  They can refinance at 2.75% and save $674/mo., or they can sell and purchase another home that suits their needs better at 2.75%.  The key here is the low rate.  This homeowner should probably do something.  The question is, what is best for that family?

Time to Talk

This is where we come in.  We have several lenders we work with.  We can look at your situation, see how much we can sell your home for and how much would end up in your pocket at closing.  The next step is determining where you would go.  It might be local, or you might consider moving to a different area.  We have an app that can show you homes anywhere in the country, and of course being part of the nation’s largest and most successful real estate company allows us to put you in touch with a great agent anywhere in the world.

If you are living in a home that does not quite meet your needs, perhaps it is time to start exploring.  Some people decide a move is not worth it.  Others decide they feel like they are settling and would like to make a change.  Either way, the Ellis Team is here to consult with you.  Personally, we do not care if you decide to sell today or 5 years from now.  We are here for you whenever that day comes.  We are interested in helping you make the best possible decision for your family.

Curious?

If you are a little curious as to what your home value is, you can call us at 239-489-4042 Ext 4.  Ask for Sande or Brett Ellis.  Or, you can find your home’s instantly for free on our website www.swflhomevalues.com

Making a move is not always an easy decision.  There are numbers involved, memories, and just the hassle of moving.  Our team has resources for you to help make your decision easier.  We are not here to tell you what you should do, but rather counsel you and present you with your options.

We look forward to speaking with you and helping you decide which way is the best for your family.

Good luck and stay safe!

See Last Week’s Article “Price at Market Value and Buyers Will Come

You’ve heard the movie quote “Build it and they will come” from Field of Dreams.  The saying for the SW Florida real estate market is price at market value and buyers will come.

Pending sales were up 2.2% in June which should lead to some nice closing numbers going forward.  However, if you look at the pricing trends for the past few years, you will notice prices have not moved much.  Every year around May or June home prices are lower, primarily because the larger sales happen in season.  2020 was different because season was interrupted by covid-19 and we were under a stay-at-home order in April.

Price at Market Value and Buyers Will Come

Price at Market Value and Buyers Will Come

What is selling today is pretty much anything that is priced correctly.  We are selling low, middle, and high-end homes.  The key is, buyers are looking for housing amongst low inventory, but they don’t want to overpay.  Buyers never want to overpay, and sometimes it seems like they must in low inventory markets.  We do think there has been some upward price pressure, but we are not seeing it yet in the overall numbers.  We may see it in the June or July closings when those numbers are released.

Sellers must weigh to counterbalancing ideas.  One is you have got a hot commodity in a lower inventory market.  The other is you don’t want to be greedy and miss this market.  Inevitably some sellers miss a seller’s market because they get too greedy and think the hot market conditions are going to last forever.  These sellers always say, “I wish we had that hot market back” when they own their home 4 years later but wished they had sold 4 years ago.

We can sell a home in a hot, warm, or cold market.  The fact is some sellers succeed while others fail to sell even in the hottest of markets.  It is always nice to sell in a hot market, and it stinks to miss it because you thought it was going to go even higher.  It’s happened before, and it will happen again.  The question is, is it going to happen to you?

Market Where the Buyers Are

The other key ingredient is knowing who your market is and knowing how to reach them.  We’ve had great success with out of state buyers, so we’ve marketed out of state.  You have to go where the buyers are, and the Ellis Team knows how to do that.

Our listing inventory has shrunk because we have sold most of it.  Sure, we have new listings coming in all the time, but not as many as we are used to marketing.  If you have a property to sell, you might want to give Brett or Sande Ellis a call. 239-489-4042 Ext 4. We have over 3 decades experience marketing in changing markets, and we’re definitely experts at reaching buyers where they are.

The Ellis Team has been voted Best in Real Estate for 5 straight years in the News Press Reader’s poll, and that does not happen by accident.  We’d like to sit down and discuss your goals and see if we can make your goals a reality.  It all starts with an idea.  Some ideas are available right now, especially since rates are so low.  Chances are you might qualify for more home for less monthly payment than you have right now.  Other ideas might take some planning, but with expert help we can put your ideas into motion and make that next step a reality much sooner for you.

Curious About Selling?

If you are simply curious about your home’s value. Check out www.SWFLhomevalues.com You can check on your home’s value without having an agent out to your home.  This preliminary step might help get the wheels turning for you.  Of course, Brett and Sande are just a phone call away if you need us.

Good Luck, and Happy Selling!  Call us if you need us 239-489-4042 Ext 4

See last week’s article “Advantage Southwest Florida Sellers as Sales Outpace New Listings

For months we have been telling you about strong real estate sales and dwindling inventory.  If our local market were a tennis match, we would say advantage Southwest Florida sellers as buyers are scooping up properties faster than new listings are entering the market.

Advantage Southwest Florida Sellers 7 Day market Watch

In the past 7 days 551 homes went pending in Lee County while only 294 new listing came on the market.  This is a daily trend, and it has been happening for months.

If you are a seller, this is a great time to sell.  You have far less competition from other sellers.  In fact, buyers are no longer in competition with the seller, but rather all the other buyers trying to purchase the same property.

Pricing is still key.  Just because it is a seller’s market does not mean buyers will overpay.  Of course, the bank appraiser will also have a say in it too.  The other way to look at it is this way.  Why would you want to overprice a home and miss one of the greatest opportunities in years?  While we expect the real estate market to do well into the future, you may not have inventory levels this low again.

Advantage Southwest Florida Sellers

Advantage Southwest Florida Sellers Months Supply of Inventory

No matter the market, we always see sellers that miss the market.  When it’s going well, they overprice it and expect the market to catch them.  When it’s on the way down, some sellers chase he market down and never quite get there, so it sits.  If they do have to sell, it can cost them.

We like to sit down with sellers and discuss their options.  We can discuss proper pricing strategies along with how our marketing is reaching out of town buyers.  What do you do when there are layoffs in town?  You go find buyers out of town, and our marketing is doing that.

Targeted Online Real Estate Advertising

For instance, last weekend we ran an online ad.  We had signups from 8 local buyers, and from 35 out of state buyers.  Add that to the 20 open house attendees and we created 63 interested parties in one weekend.  It is no wonder we are close to selling that home at the time this article is written.

Marketing must be geared to where the buyers are, and you need a Realtor who thinks out of the box to reach those buyers.  There are lots of buyers in SW Florida.  You just have to know how to reach them.  There are lots of buyers nationwide.  We know how to reach them.

Brett and Sande have the data to help you make the best decision for your family.  We do not like to under-price a home.  You do not need to in this market.  We can show you how to get Top Dollar.  If you have more buyers and more offers, you have a greater chance at top dollar.

When you overprice your home, you may get little to no offers, and that would be sad.  If you’re wondering what you’re home is worth and just want a quick analysis, you can go to www.SWFLhomevalues.com.  It will tell you instantly what your home is worth and how confident the value is.  You can then call Sande or Brett and we will tell you if we agree.  239-489-4042 Ext 4 

This weekend is Independence Day.  Enjoy this day, and this weekend, and remember those that fought to make this day possible.  It may also be Independence Day for your home.  You may now have enough equity to make the move you have been wanting to make.

Home values have been on the move.  Inventory is low.  Call Brett or Sande and let us see if a move is in the cards for you!

See last week’s article “Real Estate Transaction Dollar Volume Drops 43% in May

We thought you would like to know some changing real estate trends we are watching and how we are adapting.  This is only the 2nd time in my 30+ years in real estate I can remember changes so significant like we are seeing today.  The trends we are seeing today are different than normal economic cycle’s ebb and flows.

The last changing real estate trends we saw was back on 9-11, 2001 The United States was rocked by an enemy.  The country banded together, and Americans decided it was safer to nest at home versus travel abroad.  So, they did.  People hunkered down, traveled to within driving distance of their home and made home renovations, because home is where they were going to enjoy life and their family for a while, if anyone in Australia is requiring a reliable renovation specialist then you need an accredited and fully insured home renovation builder in North Brisbane to start your project.

Changing Real Estate Trends

Today, we are seeing similar tendencies.  Cruises, airline travel, and International travel are scary to many considering covid-19.  Workers learned to work from home, and companies learned it’s feasible.  Once companies learned this, they also learned they can save on high cost lease space in the city and setup shop in either the suburbs, or far away from where they originally thought they must be.

Two things happened.  Workers realized if they could work from home anywhere, why be in the city, and why be in high tax states?  Why not move to warmer climates that are tax friendly?  Not long after that, companies realized the same things.  If our workers are moving, why couldn’t we?  Companies have been reluctant to move for fear of displacing so many workers and not having talent in the location they might move to.  With them the need for commercial property maintenance arose. Considering the facts the companies are trying to explore their options and trying to bring the right change.

Then another thing happened; the unfortunate death of George Floyd, the protests that ensued, and more specifically, the riots and mayhem.  Combine this with talk of disbanding police departments and it sent some companies over the edge.  Companies like steady, predictability. Chaos and mayhem are not business friendly.  The thought of closing stores, losing inventory, and putting employees in harms way was too much to stomach, and many businesses are leaving.  It’s not good business practice to operate in unstable environments.

This is also a reason why some companies are relocating from China back to the US; predictability and stability.  So, who benefits and who loses in such a scenario?

Florida is Attractive to Buyers

States like Florida are big winners.  Florida has done well with covid-19.  Riots have been well contained in Florida and leadership at the state and local levels have been strong.  Sure, some will always disagree with this stance or that, but leadership itself has been strong.

Consumers are looking to migrate out of cities and move to suburbs, smaller towns as well as rural. RV sales have picked up tremendously.  RV dealers are practically sold out in some cases.  I checked with an RV dealer locally who confirmed sales are off the charts and they are having a hard time keeping inventory.  Sound familiar?

Gun sales have increased.  People are worried they may rely less on the government for protection.  The events of 2020 may shape real estate decisions in a way we have not seen since 2001, and this time it appears to be more dramatic.

People crave predictability and stability.  Companies do too.  When they do not have that, they take control to the extent they can, and that’s their family’s personal safety and housing.

Changing Real Estate Trends We are Watching

Shifts in Advertising

We have shifted our advertising.  We still advertise locally, and we are bumping up our advertising into areas where we know people are migrating out.  It is working.  We have buyers coming in from all over.  Our artificial intelligence can identify where buyers and referrals are coming from for any city.  For example, here is the map for incoming referrals to Tampa.  Each city has its own patterns.  Hire us and we’ll put the SW Florida data to work for you.

The Ellis Team is forging relationships with top agents in each of these cities, as well as taking out targeted ads directly to buyers in those cities.  They are coming here and buying.  Our team sold 3 homes last weekend to leads we have been working using targeted ads.

If you are thinking of making a move, call Sande or Brett Ellis 239-489-4042 Ext 4, or visit www.SWFLhomevalues.com to see what your home is worth, or www.LeeCountyOnline.com to find your next home.

See last week’s article “Agent You Choose Matters When Listing Your Home

Agent You Choose Matters When Listing Your Home

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