Can you believe it’s 2017 and we still receive phone calls from people who say “I want to buy a foreclosure in Southwest Florida?”  It’s true.  Short sales too.

Who wouldn’t want a bargain, especially when prices have risen so much from the bottom of the market back in the housing crisis?  People also watch those TV shows and see how others flip houses for unbelievable profit with little to no work.  Other TV shows illustrate how buyers can buy a property, put some sweat equity into it, and flip for amazing profits.

Want to Buy a Foreclosure in Southwest Florida

Southwest Florida isn’t that market.  In September there were exactly 2 short sales and 13 foreclosure sales in Lee County.  As we know Hurricane Irma slowed down sales, so we went back to August and found there were 8 short sales and 41 foreclosure sales.  Short sales and foreclosures combined came to about 4% of the total sales in Lee County in August, and about 2% in September.  There just are not many short sale and foreclosure listings out there.

Want to Buy a Foreclosure in Southwest Florida

We get it, everybody wants a deal.  However, the thing people need to know is when a bank agrees to take less to allow a short sale, they still do an appraisal.  They may consider taking less if the owner is a default risk and the property’s value is truly below market value.  What they will not do is give the property away just so a new buyer can keep the equity.  If a bank is going to take a loss, they want to minimize the loss.

When a bank sells a foreclosure, they typically want as much money as the market will allow for the property in its present condition.  The banks often even spent money to fix up homes to increase their value.

There are good values in Lee County, you just need to know how to find them.  Wasting time searching for 2% of the market will leave buyers frustrated.  It all depends on your definition of a good value.  Homes priced at or near fair market value are a good value.  Homes priced well over are not and will probably not sell unless the seller makes changes.

There are two ways to find value.  First is pick a website that has all the listings and is updated instantly.  Our website www.LeeCountyOnline.com has all the listings and it’s updated every minute.  So when a Realtor inputs a new listing, or makes a price change, our database will know about it and display the new information.

In a race to beat out other buyers to the best listings, speed wins.  Having perfect knowledge of the market back in 2007 will not help you buy a house today.  And having day old MLS data from yesterday will not help you either.

Secondly, you need an agent on your side that understands the market.  Agents with experience know how hurricanes, interest rates, new schools, company headquarters, new roads, hospitals, etc. affect the market.  Numbers are great, but having an expert helping you can make all the difference.

 

The Ellis Team has been around for 30+ years in Southwest Florida.  We’ve done thousands of transactions, and some people think we’ve seen everything.  We haven’t, as we see new things all the time that still amaze us.  What hasn’t changed is people.  People still want the same things for their family today.  They still use the same negotiating tactics.  They may have different tools, but the tactics are the same.

We can help you navigate the maze of real estate.  From selecting the property, to negotiating, to inspections, and closing, we help coordinate it for you.  You don’t have to worry as we handle the process.  If not the Ellis Team, make sure you’re working with an experienced team who will be there for you.  It’s all fun and games until somebody gets poked in the eye, then the name calling begins.  We’ll help you avoid all that.  Always Call the Ellis Team at Keller Williams Realty 239-489-4042.

Ellis Team Weekend Open Houses

Gulf Harbour

360 Virtual Tour Gulf Harbour Condo

Reflection Lakes

2 Condos in South Fort Myers

Most people tend to believe the lower end is always the strongest segment of the real estate market.  If you looked at the October Months’ Supply of Inventory you would agree.  The months’ supply graph is a snapshot in time, so we added a little something to it this month. Upper end homes leading the SW Florida real estate market.

Upper End Homes Leading the SW Florida Real Estate Market

What if you looked at the change in direction from our previous snapshot in July?  Would that change your opinion?  Static data paints a picture and changes in direction tells a story.  The changes are not huge numbers.  For instance, the $Million+ went from 15.66 months in July down to 14.62 months in October.

Each price point above $300,000 saw a reduction.  Each price point below $300,000 saw an increase in months’ supply.  Many times, we see a price range here and there flip, so it stood out to us when we saw such a shift up to a point certain.

Upper End Homes Leading the SW Florida Real Estate Market

So, what does all this tell us?  Perhaps a lot, and perhaps not much.  It tells us we should keep an eye on it more so for the change in direction than for the change in numbers themselves.  You see, the number change isn’t particularly significant.

We did have a disruption in the market in September.  Could it be that lower end homes were hit harder than upper end homes?  Possibly, but if it were true that closed sales were disrupted you would also think that current inventory would be disrupted too.  Could it be that prices have risen to a point where first-time buyers and below $300,000 buyers are tapped out and can’t afford more increases?

If the latter were true we’ll see that going forward.  Keep in mind, as season approaches we’ll have more listings coming to the market and more buyers from up North buying homes too.  That can skew local buyers’ affordability issues until after season.

My intuition tells me numbers going forward will be strong.  While we’ll track these numbers going forward they may just be a blip.  I would have expected the lower end to have done better simply because we see lower end homes being gobbled up in days if not minutes.

Data Speaks For Itself

We like to report the numbers as we see them.  We don’t use the numbers to prove what we think is happening in the market.  The numbers tell us what actually is happening.  From there we can interpret what we think it means, but it does no good to try to use numbers to prove a point just to be right.

Throw in a hurricane for good measure and numbers can state about anything you want them to say.  We’ll report September housing numbers for Southwest Florida soon.  As you would imagine, our market was disrupted, and the numbers bear that out.  We may even see a rise in October numbers due to sales that were postponed from September.

Our team is bringing several homes to market.  We’ve got some good values and more coming.  If you’d like to search the MLS like a pro, visit www.LeeCountyOnline.com  Customers love it because the data is updated instantly.  This past week a customer asked me why a home shows one price online but a different price on our website.  I explained that our website has an instant feed, so when any agent in MLS changes a price or adds a new listing, it shows up right away on our site.

Accurate, Speedy Data Wins

This is particularly important when you’re looking to find the right home.  Speed wins, and beating out other buyers to hot new properties can be the difference between owning that home and watching someone else buy it.  The same is true with price changes.  Imaging having your eye on a property and seeing it sell because it was reduced.  But you didn’t see the reduction because the site you use never displayed it.  It was sold before they could display it.  That doesn’t happen with our website.

If you have a property to sell, the Ellis Team can sell it fast and for Top Dollar.  Call Brett or Sande 239-489-4042.  We can help you buy that dream home too.  Always Call the Ellis Team at Keller Williams Realty!

Ellis Team Featured Property of the Week

New Listing in Reflection Lakes

This past week the over-riding question we get from customers and realtors alike is how will Southwest Florida hurricane affect local real estate market?  The answer is, it depends.

How Will Southwest Florida Hurricane Affect Local Real Estate Market

First off, we’ve been telling clients that the storm isn’t even here yet.  We’ve been focused on protecting life and property this week.  Buyers aren’t in the mood to house shop this week.  As Realtors, we’ve been assisting clients removing signs, lowering hurricane shutters, closing homes, and evacuating.  Our staff has postponed their own plans simply to help others.

Charley hit our area back in 2004 and bolstered our market.  It brought reconstruction and attention to our area.  You would have thought all the negative publicity would have hurt us, but it didn’t.  Renters were sometimes forced to find new rentals and it helped drive the resale and rental market.

One of the things I think about today is the used car market.  I hear there were 1 Million flooded cars in Houston area.  As insurance companies replace these cars for policy holders I can’t help but think it’s going to drive used car prices higher.  Much like the cash for clunkers program, the hurricane may raise used cars prices simply by taking supply out of market.

I’m writing this article days before Irma is scheduled to arrive.  Who knows, maybe Irma will shift east and not even hit SW Florida.

Charley was a small storm in size and we did not receive much flooding.  It was for us mostly a wind driven event.  Houston is primarily a water driven event, and in my opinion, that’s even worse.  Not only is flooding water more dangerous, it’s also more damaging over wide spread areas.

We have a low inventory market, so I’m not real excited about a hurricane eating up existing inventory.  Already rents are high, and if a tenant is displaced by the storm finding alternatives may be difficult if not impossible to find.

In many price ranges it’s slim picking for buyers, and it could get even slimmer.  It could force buyers to buy whatever they can after the storm, much like shoppers at Publix looking for the last truckload of water before the storm.

We’d much rather natural forces drive the real estate market.  We don’t need a natural disaster to create demand.  Demand is already pretty good.  Supply is already limited too.

We suspect it may take a week or two for life to return to normal, and that’s if the storm moves east and does minimal damage here.  If the storm were to hit the East coast of Florida hard, you could see many displaced people coming over here and paying cash for homes.  Not everyone can do that, but enough can that it could swallow up a lot of our inventory.  For years people from Miami have been coming over here and buying property.  If they were hit hard by a sudden event, it could spur more to move right now.

How Will Southwest Florida Hurricane Affect Local Real Estate Market?

We could write for days on possible scenarios and how the storm could affect the local real estate market.  So much of it just depends.  I think for now, we should all just focus on staying safe, executing our evacuation plans or hunkering down, and watch out for each other.

Hurricanes bring out the best and worst in people.  We witnessed so many wonderful people helping in Charlie and Wilma.  And we saw what stress can do to people as well.  Remember, stress manifests itself in many ways.  If you see someone lashing out or easily angry this next week or two, it may just be the stress of the storm piled up on other things going on in their life.  Lend a helping hand, be kind to one another, and watch out for your neighbor.  You’ll feel better knowing you did, and you just might need a helping hand yourself when you least expect it.

If you need help, don’t be too proud to ask.  We’re all in this together!  We’ll get through this.  If you’re looking for the best real estate website, check out www.LeeCountyOnline.com Or call us at 239-489-4042  Most of all, stay safe!  Real estate can be replaced.  You cannot!

Have you ever had a Realtor call you and say “We have a buyer for your property?”  Or perhaps you’ve interviewed agents to sell your home and you asked if they had anybody looking for a home like yours?

Chances are the Realtor said yes.  Chances are you weren’t sure you believed them.  What if there was a way to know for sure?  Would that pique your interest?

I remember a seller in Moody River Estates asking me that question a few years ago.  I answered as I typically did at the time “I don’t know, we very well could.”  They listed with us and I took the listing back to the Ellis Team and announced that we just got a new listing.  One of our buyer agents said he was writing an offer in there as he had just showed there yesterday.   It was literally right around the corner from our new listing.

I told him to hold up and go show ours before submitting that offer.  Buyer agreed to go see our new listing, and low and behold they liked ours better.  We sold our listing in 1 day simply because we did have the buyer, and yet I didn’t promise that.  I didn’t want to sound like all other Realtors.

We Have a Buyer For Your Property Reflection Lakes Buyer Search
Reflection Lakes Buyers

As I look through our leads, I realize we do have buyers for just about anything you can imagine.  This will be a great tool for our sellers.  For instance, let’s say we’re listing a new home in Reflection Lakes.  I can now go into our database and see how many registered buyers we have searching in Reflection Lakes.  Turns out we have 251 searching in our database.  That’s pretty good.  When we take the listing we can begin calling those buyers.  The buyers will appreciate the heads up on a new listing and so will our seller.

We Have a Buyer For Your Property Cape Coral Buyers
Cape Coral Buyers

I searched Cape Coral.  We have 1,015 people actively searching in Cape Coral.  That’s a nice stat to know when a Cape Coral seller is interviewing us.  I pulled up Town and River for fun.  We have 97 people searching for Town and River looking for homes above $400,000.  If we listed a property in there for $900,000 I could change the search to Town and River buyers over $850,000.  It would give me a list and we could call them.  Pretty neat stuff.

We Have a Buyer For Your Property Town and River buyers
Town and River Buyers

Perhaps we’re listing a $400,000 property.  When I search our database I see that we have 390 people searching in that price range.

We Have a Buyer For Your Property $300,000-$500,000
$300-$500K Buyers

We Have a Buyer For Your Property

Of course, you don’t list with us just because we have a buyer for your property.  We’ll create new marketing to get more buyers for you once we have it listed. We spend more money marketing homes than other Realtors.  Our present and past marketing can go to work for you on Day 1.  Hopefully we can create multiple buyers for your property.

When you interview agents, you want to see marketing success. Yes, Ellis Team listings sell faster and for more money.  We can show you that.  Our team can also show you how our marketing generates buyers, lot’s of them.  We have buyers’ name, email, and phone number.  Our team know’s what buyers are searching for and when they want to buy.  It’s good data.

So when an agent tells you marketing doesn’t sell homes, price does, end the interview and call the Ellis Team.  Marketing absolutely sells homes!  Anybody can give your home away.  Not everybody can sell it for what it’s worth!

If you’re thinking of selling, you should call the Ellis Team 239-489-4042  Ask for Sande or Brett.  Chances are we have your buyer for your home. We’ll still market is as if we don’t. Perhaps we can create multiple buyers, and that would be good!  Put our marketing to work for you.  We go for top dollar, and we get it.  Visit www.LeeCountyOnline.com to see why we have so many happy buyers and sellers.  Our website is updated every 5 minutes and has all the listings.  It’s more fun to use than other sites too!

Ellis Team Open Houses

Sunday 1-3 PM

1561 Cumberland Ct

3 Bed, 2 Bath 1,738 Sq Ft in Tanglewood

Open Sunday 1-3 PM

Sunday 1-3 PM

2636 SE 19th Pl

3 Bed, 2 Bath 2,096 Sq Ft  Sailboat Access Pool Home

Cape Coral Open House

Tune in to our Southwest Florida Real Estate Market Update for Sellers June 2017

 

Please be sure to vote us as the Top Team in Southwest Florida Real Estate

Best of News Press readers Poll Best real estate team Ellis Team
Vote for the Ellis Team

Buyers and sellers always ask how the market is doing, and the answer depends on which agents you’re talking to.  It’s easy to conflate how the market is doing with how your personal sales numbers are doing for the month.  While it is human nature, it is often a mistake. Southwest Florida inventory rises in April as sales decline.

When an agent’s sales numbers are up the agent feels great and wants to shout from the mountain top how great the market is doing.  When an agent’s numbers are down it must be the market.  Both cases reflect the attitude of the agent not the actual market statistics.

Buyers and sellers don’t care about that stuff.  They want to know how the market is doing. They want it local.  Hearing how an agent’s numbers are up when the market is down is about like saying the national housing market is up, but our local market is in the tank.  They only care about one thing, and that is the local data.

Southwest Florida Inventory Rises in April

In SW Florida, single family inventory rose 4.6% in April. This isn’t because a bunch of new listings hit the market.  New listings were down 10.1%, so it must be that less homes sold in April.  We didn’t draw down as much inventory through sales as we’d hoped.  There are two ways to draw down inventory.  Sales or expired listings.  If an expired listing re-lists, then even that isn’t drawing down inventory.

Southwest Florida Inventory Rises in April closed sales fall

When we study closed sales in April we find that it did indeed drop.  Closed sales fell 2.5%.  One month isn’t anything to get worked up about, so we look at new pending sales and total pending inventory to get a clue as to what future months might bring.

New pending sales fell 5.1% in April which could be a warning sign for May and June.  Total pending inventory fell 10.1% in April.  So, what’s the takeaway from all this data?  Is this bad news for the local real estate market?

It simply means pricing and marketing are critical.  Prices have held steady but sales are declining.  Total dollar volume of sales was down 1.6%.  All in all this is a pretty steady market and nothing to be alarmed about.

Southwest Florida Inventory Rises

This is not the market to over-price a home.  The SW Florida real estate market is steady and stable.  You might call it healthy and balanced.  Over-priced sellers will probably be disappointed.  Sometimes even proper priced homes get lost in the shuffle as new inventory is added every day.  Therefore, we say marketing is critical too.  You don’t want to give your home away.

Reducing your home far enough will always guarantee a sale.  Once a home is at or below market value the market will scoop it up.  The real estate market isn’t as efficient as the stock market.  You can’t just look up on the big board and see the price, its P/E ratio, and all the other data available on the stock market.  This is why some homes will sell below market value.

Upfront proper pricing helps prevent this.  Marketing exposes homes so they don’t have to sell below market.  Advertising and marketing smooths out the inefficiencies of the real estate market.  Marketing exposes your home to more buyers, thereby guaranteeing a better sales price.  In the absence of a big board, marketing is key.  We’ll do a future article on this topic soon.

You too can search the MLS like a pro.  Check out www.LeeCountyOnline.com You can search every home in MLS.  you will receive the freshest data as our database is updated every 5 minutes.  Find out what your home is worth online for free, and get detailed neighborhood reports.

You can always call us at 239-489-4042.  To list your home, ask for Sande or Brett, or let our team of talented agents help you find your dream home.  We’d love to help you!

Are all Realtors the Same? Find out what it pays to talk with the Ellis Team at Keller Williams Realty Fort Myers & The Islands

Ellis Team Open Houses

2 Waterfront Homes Open Saturday 1-4 PM

2636 SE 19th PL Cape Coral Open House
2636 SE 19th Place, Cape Coral

Open House Saturday 1-4 PM

3 Bed 2 Bath Pool Home Direct Access Waterfront Cape Coral

 

1339 Longwood Dr

4 Bedroom 3 Bath Waterfront Pool Home

Thank goodness we’ve been busy listing and selling a lot of property lately.  The 360-degree home tours and advanced marketing we’re employing to go out and create buyers for our listings is working.  We have noticed a trend recently we thought we’d try to clear up.  SW Florida home sellers are confused when they read headlines that home prices were up 11.3% in August.  They’re interviewing agents and they aren’t hearing the higher prices they were expecting, so they’ve called us out to verify what’s really going on in the market.

SW Florida Home Sellers Confused

We decided to present the chart in a different way.  Agents have been telling sellers there’s been a shift since we reported on it back on February 16th.  Sellers aren’t seeing it though because they read the headlines.  It is true, median prices are up 11.3% over last year.  However, they are down $5,000 from last month and down $2,000 from where they were last November.

Unless home prices rise in the next few months, we’ll be looking at essentially a flat line since last November.  In other words, home prices aren’t statistically rising right now.  The rise occurred last year up until November, so when you read that home prices are up over last year, they are until we get to November.  They are actually down month over month as much as they are up which is creating the flat line.

It is possible prices could start rising again.  Perhaps after the election consumer confidence will grow.  I think everyone can agree they’re tired of the political season and just want it over with as soon as possible so we can move on with our lives.

We see the Fed raising rates at their December meeting.  Interest rates have been quietly rising the past few weeks and we see more of that in 2017.  Rising rates typically do not help home prices rise because it steals affordability from the buyer.  Basically, when rates move up 1% it robs the buyer of about 11% purchasing power.

In other words, a $400,000 buyer putting 10% down could finance $360,000.  If they lose 11% purchasing power, for the same payment they can now finance 320,400.  They lose $39,600 in purchasing power.  Their payment remains the same as if they were financing $360,000 and paying $400,000 earlier before rates went up.

This is why rising rates does not help home prices.  Rising rates can spur home buyers who have been on the fence to buy now so they will save money on payments, but it doesn’t help prices long-term.

This is one reason choosing the right Realtor to list your home will become even more important.   You need a Realtor who has sold during a rising rate environment.  I venture to guess that over 80% of agents today have not been in business long enough to experience that.

How you sell in a rising rate environment is vastly different than in a stable or lowering interest rate environment.  Marketing becomes more critical as well.

If you’re a buyer, I would seriously consider buying now.  It will cost you to wait.  Prices may still rise, just not as fast.  Or they may remain stable.  The only advantage to you might be more inventory to choose from.  The disadvantage will be that it will cost you more to buy the same house next year, simply because of rising rates.

If you’d like to search the market, check out www.LeeCountyOnline.com  You can beat out other buyers to hot new listings as our database is updated every 5 minutes directly from the MLS.

SW Florida home sellers, if you’re  considering making a move, you should call us now.  239-489-4042.  Or visit LeeCountyOnline.com and get a free computerized estimate of your home’s value.

Please call us if we can help.  Good luck and Happy Home Buying!

Our Paint the Town Red event was a success.  We had over 35 properties open in one day and produced several interested buyers for our properties.  Be on the lookout for our next open house extravaganza.

Don’t forget to enter our contest so you can win a Yeti Cooler.

Please join us for our Keller Williams Paint the Town Red Open House Extravaganza where we’ll have 35 open houses in one day.

Keller Williams Paint the Town Red Open House Extravaganza

Saturday October 22  11am-3pm

Please join us as Keller Williams paints the town red with 35 open houses in one day.

$310,000 * 16585 Wellington Lakes Cir, Ft. Myers, FL 33908

$500,000 * 6180 Winkler Rd, Ft. Myers, FL 33908

$240,000 * 11889 Tulio Way #4203, Ft. Myers, FL 33919

$1,500,000 * 1135 Lorraine Ct, Cape Coral, FL 33993

$225,000 * 3226 SW 8 th Ct, Cape Coral, FL 33914

$259,000 * 8441 Lemon Rd, Ft. Myers, FL 33967

$239,000 * 11736 Izarra Way #7806, Ft. Myers, FL 33912

$725,000 * 2537 SW 38 th St, Cape Coral, FL 33914

$509,000 * 6260 Plumosa Ave, Ft. Myers, FL 33908

$197,500 * 1503 McGregor Park Cir, Ft. Myers, FL 33908

$230,000 * 13633 Admiral Ct, Ft. Myers, FL 33912

$387,000 * 9344 Independence Way, Ft. Myers, FL 33913

$459,000 * 9072 Prosperity Way, Ft. Myers, FL 33913

$279,000 * 10006 Sky View Way #208, Ft. Myers, FL 33913

$365,000 * 12890 Timber Ridge Dr, Ft. Myers, FL 33913

$449,000 * 11207 Sand Pine Ct, Ft. Myers, FL 33913

$123,900 * 1429 SW 48 th Ter #6, Cape Coral, FL 33914

$594,900 * 12570 Villagio Way, Ft. Myers, FL 33912

$874,000 * 15690 Catalpa Cove Dr, Ft. Myers, FL 33908

$439,999 * 1121 SW 51 st Ter, Cape Coral, FL 33914

$313,000 * 5709 Sandpiper Pl, Ft. Myers, FL 33919

$244,900 * 9370 Old Hickory Cir, Ft. Myers, FL 33912

$315,000 * 12634 Shannondale Dr, Ft. Myers, FL 33913

$750,000 * 5615 Natoma Dr, Ft. Myers, FL 33919

$399,000 * 11180 Sand Pine Ct, Ft. Myers, FL 33913

$789,000 * 1832 SE 28 th St, Cape Coral, FL 33904

$580,000 * 12010 Honeysuckle Rd, Ft. Myers, FL 33966

$272,000 * 15620 Laguna Hills Dr, Ft. Myers, FL 33908

$229,000 * 1037 Wilshire, Ft. Myers, FL 33919

$545,000 * 12737 Gladstone, Ft. Myers, FL 33913

$187,900 * 13402 2 nd St, Ft. Myers, FL 33905

$459,000 * 1206 Shadow Ln, Ft. Myers, FL 33901

$419,000 * 4403 Chiquita Blvd S, Cape Coral, FL 33914

$419,900 * 5479 Beaujolais Ln, Ft. Myers, FL 33919

$399,900 * 10100 Belcrest Blvd, Ft. Myers, FL 33913

Call us at 239-489-4042 if you have any questions about any of these SW Florida properties.

Keller Williams Paint the Town Red Open House Extravaganza

 

 

 

Perhaps you’ve read about virtual reality headsets and what it can do for the gaming industry.  You may not realize what 360 degree home tours mean for the real estate industry, until now.

360 Degree Home Tours
360 Degree Home Tours on Your Smartphone or Desktop

Until recently agents would provide a virtual tour in 2D, meaning the tour would consist of a series of photos, and perhaps video walking through the home.  This was great but it didn’t provide perspective and the consumer was forced to look at what the photographer wanted you to see, exactly when they wanted you to see it.

Now the technology has grown such that savvy agents can now provide more perspective and the consumer is in control.  They get to control the scene, view each scene as long or as little as they like, and see how rooms and objects relate to each other.  It’s very spatial and the best way to view a home without actually being there.

We’ve had buyers buy homes sight unseen before simply from photos and videos we’ve taken from a home, and now buyers will be able to feel like they’re in the home.  Showings will go way up because now people are viewing the home on their computer, or on their mobile device.

Many mobile devices today are better than computers were a few years ago.  They displays are crystal clear, and they have sensors like gyroscopes that allow a consumer to place it in motion view or 360 view and literally move the phone around and see the entire room.  Sure, you can still move around the room by touching your screen, but now the phone or VR (Virtual Reality) headset will do it for you.  All you have to do is look a certain direction and now you’re moving the scene, 360 degrees.

360 Degree Home Tours


We’re creating a new website www.SWFL360hometours.com which will showcase our listings in full 360 virtual reality.  You don’t have to have a VR headset to do this.  As we said, many smartphones will do this.

Facebook and YouTube already allow 360 photos and videos.  We’ve been adding 360 photos to our fan page www.facebook.com/Ellisteam Not only is this one of the most fun things we’ve done, it’s also one of the most useful things for consumers.  We’ve been hosting live events on FB as well as utilizing 360 photos.

We love 360 videos too, however when you shoot a home in 360 video consumers need to pause the scene if they want to view it for longer than what the videographer chose.  That’s OK, but why make a videographer choose a length or the consumer have to take extra steps?  With a 360 photo the consumer can see everything for as little or as long as they choose, then move to another scene.

Every person we show 360 degree home tours to sees the big WOW.  Sellers realize instantly what it can do for their home.  Marketing matters.  Pricing is important, but it’s not the only thing that sells a home.

More Online Showings

Imagine you have an item and you place it in an online auction.  Do you think you’ll sell your item for more in you have 1,000 bidders or just 1 bidder?  Of course, more bidders bring a higher price for anything, including real estate.  This is why marketing is critical in getting Top Dollar.

Adding 360 degree home tours to a home brings more online showings to your home, and there is no limit as it’s online and shareable via social media.  We have the ability to target buyers by income, price range, age, geographical area, recreational interests, habits, and much more.

We’re listing a home in an over 55 community.  We can place ads to only people 55+ We can place ads to golfers, boaters, people likely to move, have certain incomes, etc.

Marketing today isn’t what it was 10 years ago.  If an agent tells you marketing doesn’t work, seek another opinion.  Remember the formula.  Proper Pricing x Targeted Marketing= Successful Sale.

If you’re thinking of selling, Always Call the Ellis Team 239-489-4042 or visit www.LeeCountyOnline.com to search the MLS or find out what your home is worth.

Ready for a Yeti?

Are You Ready For a Yeti
Ready For a Yeti?

Find out how you can with a Yeti cooler.  Simply pickup your Ellis Team koozie at one of our open houses or stop by our office.  Simply post a picture of our koozie with your favorite beverage and use hashtags #Ellisteam and #readyforayeti and like our Facebook Page.

Ready for a Yeti
Post our Ellis Team Koozie Photo Online

 

Perhaps you’ve been reading about the shift in the local and national real estate market. Some experts haven’t noticed a shift while others have predicted dire results because they have noticed. The real experts are aware of the shift and realize this appears to be a minor correction as the market just got ahead of itself. Markets often chug along until one day it does get ahead of itself, both on the way up and the way down. Today we talk about how the market responds as sellers heed advice from agents.

Back in 2009 we said the market had over-corrected and was due for gains. It did. This past February we sounded the alarm and said the market may be ahead of itself, and it was. Sellers have heeded the advice of agents and are actually selling homes.

You see, homes will always sell, even in up, down, and sideways markets. It’s a matter of marketing and price, and the sellers that market properly and price properly win the selling game. Owners that fail at either of the above may not win. Sometimes the best team on the field doesn’t win the game. Sometimes the best home on the block doesn’t sell. You have to be the best today to sell today. It’s not enough to be the best 6 months ago.

Buyers judge houses on features, size, location, age, and price among others. If you’re great in all areas except price, buyers will reject your home. You’re not the best today if your home is overpriced.

Market Responds as Sellers Heed Advice

We have good news to present however. In fact, I had to double check the numbers because I didn’t believe the numbers. Month’s supply of inventory is down to 5.07 months by my numbers. Official numbers by Florida Realtors shows 4.5 months however they calculate slightly differently than we do. In any event, and by any measure, we both have inventory coming down.

Market Responds as Sellers Heed Advice

You can see by the graph that inventory levels have come down in virtually all price ranges. This is because sellers have taken their agent’s advice and reacted to the shift in the market. The sellers who have not repositioned their home in the marketplace are still on the market or their listing has expired.

Selling your home is a pretty easy math equation. mm x cp = ss Mass Marketing times Correct Pricing equals Successful Sale. If your home isn’t marketed to the entire market it may not sell. I’ve seen homes priced correctly that have not sold. We’ve come in and upped the marketing and watch them sell.

An overpriced home will not sell. No amount of marketing can cure an overpriced listing. If you’re willing to follow the formula, success will follow. If you deviate from the formula, you won’t get your desired result, so you have to ask yourself the question, “Which is most important? Selling my home or staying because I want or need too much money?”

Unfortunately, the market doesn’t care what you need, and Mick Jagger explains beautifully that you can’t always get what you want. The answer lies with you. Are you willing to price your home where the market is? Are you willing to hire the best agent to sell your home?

Owners mistakenly believe all Realtors are the same and MLS will sell the home. It doesn’t work that way. There is a lot of expertise that goes into negotiations and the best way to present a property to the market. Some Realtors don’t know these tips because they’re not experienced enough. If Realtors in the business don’t all know, how is a seller supposed to know?

You have to interview agents with experience and a track record. If you’re thinking about selling, or perhaps have tried it yourself to no avail, give us a call. We’ve got some new ways to reach buyers we think you’re going to like. Call the Ellis Team 239-489-4042 and find out what’s new and how we’re reaching today’s buyers. We think you’ll be amazed, and most importantly, on to your next home. Feel free to search the MLS at  and get an automated free estimate of your home’s value.

Good luck and Happy Selling!

Open House Saturday and Sunday 1-4 PM

waterfront home whiskey creek open houose
Whiskey Creek Open House

Open Saturday and Sunday 1-4 PM

1388 Landmark Ct

Waterfront Gulf Access

Stop by and pickup your Ellis Team Koozie and chance to win a Yeti

 

 

Are You Ready For a Yeti?

Are You Ready For a Yeti
Ready For a Yeti?

All you have to do is like our Ellis Team Facebook page and post a picture of our koozie with your favorte beverage online with the hashtags #ellisteam and #readyforayeti The most creative picture wins.  You can post online at Twitter, Instagram, Facebook, and Google +

Ready for a Yeti
Post our Ellis Team Koozie Photo Online

Stop by our open house and pickup your koozie, or stop by our office.  You can always call us at 239-489-4042 to see where we’re going o be.  Some lucky winner is going to win a Yeti 45 and it might as well be you.  Contest ends November 30, so you’ve got some time.

Suffice it to say marketing real estate has come a long way in the last decade or so.   Gone are the days when you could just put a sign out front, an ad in the paper, and upload it to MLS and expect it to sell.  Oh sure, it might sell, but what if that doesn’t work?  The Ellis Team and other top agents are finding SW Florida real estate buyers using advanced marketing techniques.

Finding SW Florida Real Estate Buyers Using Advanced Marketing Facebook Audiences
Online Audience Demographics

Sure, we still use the newspaper, signs, and the MLS.  All marketing works to a degree, and any one of them could sell the home.  We can’t just sit back and hope the buyer finds us.  We have to go out and find the buyer, and that’s exactly what we do.

Finding SW Florida Real Estate Buyers Using Advanced Marketing

Through the power of Google, Bing, Yahoo, and Facebook we’re able to lock in on the buyer and bring a home to them, instead of praying the buyer finds us.  We can search for buyers who are likely to move, who make a certain amount of money, have a certain degree of education, just entered new relationship, or have a level of equity in their current home.

Finding SW Florida Real Estate Buyers Using Advanced Marketing Facebook Behaviors
Behaviors Likely to Move
Finding SW Florida Real Estate Buyers Using Advanced Marketing Income
Online Lead Income Level Selection

 

Home Ownership Characteristics Finding SW Florida Real Estate Buyers Using Advanced Marketing
Home Ownership Characteristics

We can drill even further.  We can target doctors, people up north, and hundreds of other attributes.  Real estate is a people business.  The best agents learn a lot about their clients because they ask questions.

Today there is a database that has all this information.  When you put a sign in the yard you’re limited to just those that drive by the property, and you have no idea if they need a home or could even afford one.  When you know which people make a certain amount and are likely to move and are looking for a 2nd home in SW Florida it makes it easy.  Sure, you have to know what you’re doing and how to reach these people, but the time invested in targeting the right people more than offsets targeting the wrong people.

When we list a $1 Million property, we want to find million dollar buyers.  It does us no good to find $100,000 buyers for that Million-dollar home.  And vice versa.  When we list a $200,000 home, it doesn’t matter how many $5 million buyers we have.

We sell what we list.  Sometimes sellers will ask how many homes have you sold in his price range, and that might be the wrong question.  The best question is how will you reach qualified buyers for my home?

We’ve sold properties in our career anywhere from about $5,000 to over $15 Million.  Of course we need to price the property correctly because no amount of marketing will sell an over-priced listing.  Proper pricing isn’t enough however.  We’ve got to go out and find the buyer, we can’t expect the buyer to find us without proper marketing.

We not only have a database of buyers in all price ranges ready to make a move, we go out and look for more buyers as we list each property.  This expands our database, so it’s quite possible we already have the buyer for your home.  When new properties hit the market, our buyers are alerted each day of new listings that match their criteria.

If you’re thinking of selling and not sure how an agent will find a buyer for your home, give us a call.  239-489-4042.  Ask for Sande or Brett.  We’ll be glad to show some advanced marketing techniques we’re using to sell our listings.  It not only works, it’s kind of fun.  Feel free to use our website to search the MLS or find out what your property is worth.  www.LeeCountyOnline.com Always call the Ellis Team at Keller Williams.

 

Good Luck and Happy House Hunting!

New Listing Coming Soon

1338 Landmark Ct-Whiskey Creek Waterfront Pool Home