Traditionally, showings go down during the holiday season. However, the showings that do occur tend to be serious buyers. We’ve sold several homes this week, and we’re still negotiating a few sales before Christmas.
The week between Christmas and New Years tends to be very busy. We have a lot of visitors to SW Florida during the week. They tend to be new to the market. Some buy, many come back later in the year after deciding SW Florida is a nice place to own property. Activity is gernerally slow from Jan 1-January 15, then showings pick up again.
Our team has been very busy listing properties. We will have several enter the market just after the holidays. During 2005, we had a difficult time keeping more than 5 properties in inventory as they would sell so fast. We’re getting back to normal at 70.
The Ellis Team has always carried listings for years, except for the last two or so. The reason is we advertise homes more and expose them properly to the market. We call it a Flight to Quality. When the market turns just a bit, the relative in the business or the Realtor down the street offering a deal just doesn’t seem like a deal anymore. Sellers want their home sold, and they want to trust the Realtor working for them will do everything possible to sell their home, not skimp on costs.
Look for more homes to enter the market after the Holidays, and for buyer activity to pick up. View Ellis Team listings, or View entire MLS if you’d like to see properties currently for sale. For more information, listen to our Weekly Radio Show Online, or visit our Website or call us at 800-860-4042
Many believe 40 year loans will become more popular. This comes as a surprise to many Americans, but in fact in some parts of the world loans are paid off over many generations. Even if rates go up from their current levels, they’re still historically low. What’s making homes unafordable right now is mostly the large run-up in prices over the last three years.
We’ve had tremendous price increases, increasing interest rates, insurance rates, and property taxes. All are pressuring the first-time buyer at once, making homes largely unaffordable for those that missed the big boom. We’ll keep you posted throughout 2006 as to how the market performs.
National City says the Naples real estate market is 82.3 percent overvalued.
Other "extremely overvalued" Florida markets include Port St. Lucie (68.1 Percent), West Palm Beach (56.9 percent), Sarasota (55.6 percent), Miami (55.3 percent), Vero Beach (54.3 percent) and Fort Lauderdale (52.8 percent).
We’ll keep watching, but Cape Coral/Fort Myers Florida does Not appear to be on their list
Many extras like bamboo floors, Australian Cypress wood floors, and much more. Call us for more information on this home, or other riverfront homes.
Citizens Property Insurance Corp.’s board on Thursday approved an average statewide rate hike of 44 percent for homeowners in high-risk areas. This increase, which still has to be OK’d by state regulators, follows a 16.2 percent increase in high-risk coastal areas that was approved last February.
Mortgage Rates The average rate for a 30-year fixed-rate mortgage dipped slightly this week to 6.3 percent. Financial markets seemed to like signals from the Federal Reserve that its string of interest rate hikes could be drawing to a close.
Find out how much home you can afford upfront. Get pre-qualified You’ll want to be happy in the home you’re in, not the home you wish you had bought in the past or the home you cannot afford. Getting pre-qualified upfront sets reasonable expectations. There is nothing worse than looking at homes above your price range, then having to settle for a lesser home because he bank said so.
You’ll also want to be comfortable with your payment. Sometimes you can afford much more home than the monthly payment you’re willing to spend, and that’s OK too. Our agents can Represent you , assisting you to make a better decision for you and your family.
Remember, there is no Perfect home. If you had all the money in the world, you couldn’t design and build the perfect home. One day you’d want a home in the mountains, another a gorgeous home on the beach. I could go on and on here, but you get the point. You’ll want to focus on your needs first, and also what would make you happy. Buying a home is all about choices, and together we help you make the best choice for you. Everyone is different, so we really have to listen to you. We’ll ask lots of questions.
The best home for you may not be the home I’d choose, and that’s perfectly fine. It’s not about us. It’s about You! Good luck, and happy house-hunting. If you’d like more information about SWFL, visit Topagent.com If you’d like to view properties in MLS, search for yourself at Leecountyonline.com. Here is the link Ellis Team Featured Listings .
Here is the phone number to report such activity. 866-532-1440 Here is a link to an article about this.
Real Estate Bubble Ready to Burst? NBC interviews top agent Brett Ellis about the housing bubble boom or bust and where SW Florida market is headed. Complete with video (No longer active). NBC Nightly News feature on foreclosures in SW Florida Brett Ellis is known for his statistical analysis of the SWFL real estate market, and his Current Market Index, which accurately predicts where the market is headed. Brett works with his mother Sande Ellis, and together they lea d the market in Southwest Florida. View their website.
Our analysis shows the SW Florida real estate market may be headed for a real estate bubble, and soon. At some point, the what a bigger fool will pay philosophy will have to end. We don’t have end users for all of this new construction.
See our Innovative Sales Tactics as reported by NBC-2.
Economist: Gradual moderation of real estate market likely (Link no longer active from Naples Daily News) Noted economist Hank Fishkind addresses mortgage rates, retirees, demographics, oil prices, and markets up north to come to his conclusion.