This week’s SW Florida real estate video update presented by The Ellis Team at RE/MAX Realty Group focuses on SE Fort Myers Florida.  SE Fort Myers consists of zip codes 33912, 33913, 33966, and 33967 and covers Gateway, Fort Myers South around the Daniel’s Parkway Corridor over to US 41 down tthrough San Carlos Park.

SE Fort Myers Florida Real Estate Video Update

View this week’s SE Fort Myers Florida Real Estate Video Update  Average prices were down about 22% in SE Fort Myers, however sales were up significantly.

Follow The Ellis Team on Twitter, so you can keep up to date on Fort Myers and Cape Coral real estate news and information, including information on the entire Southwest Florida real estate market.  Our latest post on Twitter includes our Cape Coral real estate video update.  Check our our Ellis team SW Florida Top Agents page on Twitter.

SW Florida Real Estate Home Sales Statistics

Fort Myers and Cape Coral saw a 128% increase in home sales over last year as reported by the Florida Associatiopn of Realtors.  Statewide sales were up 24%, but locally they were up much greater becuase affrodability is back in the SW Florida real estate market what is not priced into all Florida markets. Median sale price is Fort Myers and Cape Coral dropped to $141,400 from $231,600 last year.

Condo sales in Cape Coral and Fort Myers saw a 50% rise in condo sales over last year, while the median price dropped 17% to $185,000.

Home sale prices declined for the 4th straight month in Fort Myers and Cape Coral real estate.  See our month over month prices graph. You can also view a monthly price summary by year for Fort Myers and Cape Coral real estate.  We’ve also included a home sales by month for the past several years for Fort Myers and Cape Coral.

We’ve created some videos for you to learn about the SW Florida real estate market better.  Some of these videos were newscasts done on TV, while others were simply us on a video camera talking about the market in our office.  We’ll be adding more videos like the newscast we did for NBC Nightly News with Brian Williams a few weeks ago, so stay tuned.

Thank you for reading our SW Florida Real Estate Home Sales Statistics update this week.  We look forward to bringing you further SW Florida Real Estate Home Sales Statistics.

NBC-2 did a report Monday night about how out of state buyers are snatching up bargains in SW Florida.  Buyers have been coming in from all over looking for bargains, some of them foreclosures, in the Fort Myers, Cape Coral, and Lehigh Acres area.

The Ellis Team lists a lot of bank owned foreclosures and we are seeing buyers snatch up these properties in hours.  Many of these properties receive multiple offers in just a few days, so it’s important for buyers to know the rules the lender is requiring and to follow them.

Buyers quite often ignore the rules and are disappointed when their offer is not accepted.  Working with an agent who knows the requirements of the offer will increase your chances of acquiring the property, although it cannot guarantee it when multiple offers are invloved.

We will be adding shortly a way to search for foreclosures on our website.  To search the entire SW Florida real estate MLS, including Fort Myers, Lehigh Acres, and Cape Coral, visit www.Leecountyonline.com

 

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Brett Ellis on NBC Nightly News with Brian Williams SW FLorida real estate affordability

 

Busy Week in the News For The Ellis Team at RE/MAX Realty Group in Fort Myers Florida

NBC News featured SW Florida’s real estate market and the Ellis Team at RE/MAX in a story which concentrated on housing affordability.  Lower prices are attracting buyers back into the market, and home sales statistics bear this out.  Home sales have been up dramatically over last year each month this year.  NBC News decided to come to the epicenter of where the housing crisis turned bad, and noticed there may be a turn around in the works, which could be a positive sign for other parts of the country in the coming years. Click here to watch The Flip Side of Foreclosures: Affordable Homes  MSNBC also has a Blog article up about this story Mortgages Are Out There . And So Are Bargains which also features the Ellis Team in the Blog.

NBC Today Show from Fort Myers Florida featuring Brett Ellis of RE/MAX Realty Group

The NBC Today Show visited Fort Myers on September 23 and reported on foreclosures in the SW Florida real estate market, particularly on Lehigh Acres and Cape Coral Florida.  NBC came to The Ellis Team for answers.  Click here to watch Florida’s Foreclosure Hot Zone.

 

Last night Brett Ellis was also on the ABC News about home sales increasing while prices have been declining.  Click here to watch this story.

 

This past week Brett Ellis was featured on WINK News regarding Governor Sarah Palin’s speech in Fort Myers, and Mike Ellis was seen live on WINK News as a local business leader and his reaction to the presidential debate.  We’ll try to get video uploaded on these two stories later on.

The O’Reilly Factor called and asked Brett Ellis to be on The O’Reilly Factor this past Tuesday.  Unfortunately the taping time with Bill O’Reilly conflicted with Brett’s son’s baseball game that night, so we had to pass on that interview.

Ellis Team to Appear on NBC Nightly News with Brian Williams Regarding Fort Myers Housing Affordability

Ellis Team to Appear on NBC Nightly News with Brian Williams Regarding Fort Myers Housing Affordability

Brett Ellis of The Ellis Team at RE/MAX Realty Group will appear this week on NBC Nightly News with Brian Williams.  The focus will be on buyer affordability in the Fort Myers and Cape Coral housing market, and how buyers have begun purchasing in 2008 as affordability has come back to the market.  Home sales in July were up 80% over last year, and up 32% in August over last year.

This should be a positive story about the SW Florida real estate market.  The show will air Wednesday October 8, 2008 at 6:30 PM ET

To search for your home, click here to search the entire MLS.

NBC Today Show Interviews Ellis Team in Fort Myers

 

NBC Today Show Interviews Ellis Team in Fort Myers

The Ellis Team was featured on the NBC Today Show regarding the presidential election.  Florida has been identified as a battleground state, and the housing market will play a vital role in how people select the next president.  The Fort Myers, Cape Coral, and Lehigh Acres area have been identified as the epicenter of what happened in Florida, and NBC wanted to come here and report on what is happening today.

Click here to watch the viddeo.  The good news is that home sales were up 80% over July 2007 numbers and up 41% over August 2007 numbers, so even though prices are lower, buyers are back in the market scooping up properties because they are affordable.

Foreclosures have been highest in Cape Coral and Lehigh Acres where speculators built many homes in hopes of flipping to other investors or end users, but the speculators overbuilt for the current demand.  Fort Myers has been hit with some foreclosures, but nothing like the Cape Coral and Lehigh Acres area.  For detailed statistics on the SW Florida housing market, visit our housing statistics page.

 

The latest Fort Myers Cape Coral SW Florida real estate Current Market Index has been released today and the overall Fort Myers Cape Coral housing index numbers fell to 7.75, from 7.88 the month prior.  Cape Coral again led the way as Cape’s index fell to 6.38 while Fort Myers stands at 13.76.  The lower the number the more favorable it is for sellers, and the higher the number the more favorable for buyers.

Current Market Index for Fort Myers Cape Coral Area

 

Fort Myers Cape Coral SW Florida real estate current market index chart

Lee County listing inventory for single family homes remained steady at 15,530 up a mere 7 homes from last month, and pending sales increased to 1,617, up from 1,546 in August.  The overall Lee County Florida Current Market Index is at 9.60 in September, down from 10.04 in August.  The September condo index stands at 20.21, up from 19.27 in August.

These numbers tell us the overall market is basically holding steady to slightly improving since August, and should bode well for closings in future months.  It also tells us that so far the market has been absorbing the influx of foreclosures and selling them as they are not adding to inventory supply.  This is another positive sign as the local SW Florida real estate market would be in trouble if the foreclosure activity added to inventory supplies.  The large number of foreclosures is however keeping the supply where it is and preventing it from declining.

About a month ago Reflection Lakes was considering a very bad policy for access to its gate system that would have impaired Realtors ability to show homes, which in turn would impair sellers ability to sell their homes in an already tough real estate environment.  You can read more about that past policy at Reflection Lakes Gate Policy Bad For Home Sales?

The new policy allows the gate to call an agent’s cell phone number so the agent can allow access once another Realtor get’s to the gate.  And there in lies another real problem.  I spoke with a board member prior to the last meeting, and when the board member proposed this idea as a possible solution I told him it wasn’t a good idea.

Here is the issue.  Busy Realtors don’t use their cell phones for incoming calls or showings.  The Ellis Team alone receives on average 80 calls per hour, and this doesn’t even include calls to setup showings which go to a separate showing desk to be logged into our computer system for propert tracking.  RE/MAX receives many calls too, and we have many receptionists to take those calls.

It would be very rude for us to answer our cell phones each time someone called the office.  Just imagine a buyer working with an agent, but instead of being able to talk to that agent one on one for a few hours while viewing homes or negotiating a contract, the agent was answering their cell phone multiple times per minute.  Some of these calls would be for showing feedback, others might be from other clients, others might be from the title company or mortgage company, and now a new call to open a gate.

Keep in mind the agent may be on a listing appointment.  Again, this potential sellers wants quality time with the agent they’re thinking about hiring, and they want to ask tough questions.  People hate being interrupted by someone else’s cell pone every 2 seconds.  It’s just rude to do that to someone.  Now the Reflection Lakes gate calls the agent’s cell phone.  The agent may be unaware of whom this Realtor is or if they really have an appointment, because the agent isn’t at their office, and would have to make another call to the showing desk to find out.

Sellers don’t want to list with agents who have nothing else to do but setup showings or sit around and wait for the phone to ring.  Those aren’t the Realtor’s selling properties today.  And what if the Realtor is on another line when that gate request comes through?  What if that Realtor is on vacation?  Realtors take vacations too, but the agent who doesn’t have a showing system in place with their company will lose showings.

Ultimately it will be the homeowner who will be hurt by this policy.  Realtors should have a code that works to get into the gate.  Adding a bunch more bureaucracy and phone calls won’t help the situation.  Reflection Lakes won’t even allow this gate request to go to agent’s company, the very people who setup and manage the showings.  It must go to a cell phone.

We have a tremendous gate problem in Reflection Lakes.  When it was sold to us we were told we they picked the best gate company because repairs and maintenance would be less because this was a quality system.  We didn’t know the gates would be so slow, and that the software wasn’t capable of keeping up because of phone transmission problems.  Now it’s becoming a big issue just getting data to and from the gates.  Adding a cell phone policy for Realtors won’t solve this.  The truth is it’s a technical problem in the phone lines.  If it’s just too much data, then we need a better software system.  You would think for the money we paid for the gates the speed of the gates and the software would be sufficient.

Through July of 2008 the Ellis Team has sold and closed 154 homes.  This is a tough environment, and agents are having to work harder and more skillfully to put deals together, and keep them together.  At an average of 80 calls per hour, you can see there’s not a lot of sitting around waiting for the phone to ring time.  And there’s certainly no sitting around waiting for the cell phone to ring just so we can let someone in Reflection Lakes who may or may not have an appointment to see one of our listings.  If the board is going to take the time to adjust these policies, and speak with Realtors about what works and what doesn’t, at least listen to the advice you get instead of acting unilaterally.  I know the board has tough decisions to make with this gate that doesn’t seem to quite work like it was promised, but please for the sake of our homeowners, take all the facts into account before making the problem worse.

I really don’t believe the security of our community is being jeopardized by Realtors having access to the gates via a code.  The Realtors have access to the insides of homes, so why would you be afraid to give access to the gate? 

The Ellis Team at RE/MAX Realty Group is hosting another free SW Florida real estate short sale seminar on Monday, November 26, 2007 at 7 PM  We will teach buyers how to effectively purchase properties in Fort Myers, Cape Coral, and all of Southwest Florida at or below fair market value.

Registration is FREE, and you must call our office at 239-489-4042 as seating is limited.