Florida International real estate sales rise 21% of total dollar volume and 15% of total sales in 2017.  Both numbers were up versus 2016 numbers.  This tells us that foreign buyers are here purchasing, and because the total volume is higher, they are purchasing higher than average priced homes.

So where are these Lee County foreign buyers coming from?  According to the Florida Realtors profile of international real estate activity, Lee County saw the largest amount coming from Canada, followed by Germany and United Kingdom.

Florida International Real Estate Sales Rise Where Lee County Foreign Buyers Come From

Florida International Real Estate Sales Rise

Just this past week the Ellis Team placed a property under contract with a Canadian buyer, and we just completed a transaction with a German owner.  Over the course of time, these countries fairly well describe who buys in Lee County from overseas, but there are fluctuations.

Two factors that influence foreign buyers are the changes in currency valuations, and the home price growth from the foreign country.

The Canadian dollar hasn’t moved much against the US dollar, so you might wonder why the increased interest.  Canadian home prices have been sky-high.  They have equity. Some say they’ve risen so high the bubble might burst as there is no rational basis for why their prices have grown so high.  But then again, there never is in Canada.  They have their own economic forces.  It’s like gravity is different up there.

Canada was number 4 in the world for real price growth behind the Philippines, Hong Kong, and New Zealand.  This confidence and equity has spurred opportunities for Florida as Canadians love visiting our sunshine and beaches.

72% of foreign buyers pay cash. But Canadians only finance 14% of the time. United Kingdom buyers finance 23% of the time.

Ellis Team markets to Foreign Buyers

The Ellis Team markets to foreign buyers as well as US buyers.  In a market like Florida you have to market to reach the entire universe of buyers.  Especially given the fact that 21% of Florida’s sales volume comes from foreign buyers.

While this report covers all of 2017, there can be shifts. We study our website traffic over the last year and compare to the last month and week. We see some recent changes.  This past week Canada still led the way, followed by Germany and Sweden.  United Kingdom is at #9 for the year and not even in our top 10 for the last week.  Brazil slipped to #9 in the past week.  They’ve been in the #6 spot for the past year.

Ellis Team LeeCountyOnline.com International Visitor Count October 2017

Changes in currency, political environments, and home prices abroad can affect our market here quickly.  We can monitor on a week to week or even day to day basis.

The bottom line is, if you’re only marketing to local buyers you’re missing out on a large portion of the market.  In addition to 21% of the volume from international buyers we sell many homes to US citizens from other states.

Florida International Real Estate Sales Rise Website Visitors By State

Over the past year Illinois lead the way in property searches on LeeCountyOnline.com followed by New York and Michigan.  It’s no wonder we’re working with so many buyers from IL right now.  The Ellis team is working with buyers from all 10 of these states.  They are searching for property in Southwest Florida and we are helping them purchase it.

Thinking of Selling?

If you’re thinking about selling your SW Florida property, it pays to work with a Realtor that markets across the US and internationally.  Have them show you how many buyers they’re generating and from where.  If they can’t show you, they either aren’t marketing there or don’t focus on it.

The Ellis Team will be glad to sit down with you and see how we can help you get top dollar for your home.  Call 239-489-4042 and ask for Sande or Brett.  Or feel free to search our SW Florida MLS Search Site  The rest of the world does.  You might as well too.

 

Ellis Team Weekend Open House

Open Sat 1-3 PM

Daniel’s Park

Ellis Team Featured Homes of the Week

Reflection Lakes New Listing

Gulf Harbour Condo

Paramount at the Shores

Paramount at the Shores Gulf Harbour

4 Bed 5 Bath Condo overlooking River, marina, and golf course

 

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

Hurricane Irma came and passed, and we survived.  Thank God it wasn’t as bad as it was predicted.  It’s been irritating and people are suffering, but we’re thankful for all we have and preservation of life.  So, let’s look at what we learned and talk about Southwest Florida real estate after hurricane Irma.

Many people didn’t realize flood insurance is affordable.  I spoke with some who thought it would be several thousand dollars per year and because their mortgage company didn’t require it, they were safe.  We learned that people in Houston thought the same thing.  Flooding in parts of Lehigh are horrific.  This flooding was not due to storm surge but rather rainfall.  Other areas like Island Park, Old Burnt store Rd, and several other communities experienced flooding like never before.  If flood insurance is affordable, go get it whether the mortgage company requires it or not.

Southwest Florida Real Estate After Hurricane Irma Older Pool Cage
Older Pool Cage

Much of the damage came from trees.  Large beautiful trees are a hazard in storms.  I don’t know what the solution is.  Perhaps cutting and trimming trees would help keep some of the weight down far from the trunk and save some of these trees from hitting homes and blocking streets?  Trees caused down power lines and were probably the number one reason power was out for so long for so many.

Southwest Florida Real Estate After Hurricane Irma Newer Pool Cage
Newer Pool Cage in Reflection Lakes

Make sure your subdivision clears its drains regularly.  This helps alleviate street flooding on private roads and can make the difference whether your street is passable after storm or not.  People in Cypress Cay in Gateway among others were stranded for days.  I’m sure there were other reasons, but anything that helps drainage is good.

Gas lines were long.  Whether you’re running generators or just trying to get to work having some extra gas around ahead of storm is a good thing.

Living close to restaurants and super markets is a good thing after a storm.  While many were slow to open, it was a huge relief when they did.  If you can walk to either, gas isn’t an issue.  If you can’t, at least you won’t burn much gas.  Cash is king.  A few restaurants were cash only because they didn’t have internet.  With banks and ATM’s closed, having cash ahead of storm is good.

Newer homes fared better.  We saw some older homes lose shingles.  Presumably this could be due to newer building codes, although we did see some homes missing tiles on the newer homes.  I saw some pool cages down built to older codes and some untouched built to the newer codes.  Of course, wind direction could affect these too.

The bottom line is SW Florida was lucky.  We are grateful.  Property damage was not as bad as expected and there was limited loss of life in Florida.  Southwest Florida real estate after Hurricane Irma will be just fine, if not better.  We will have a few weeks of rebuilding and repair but overall, we did well.

We have buyers.  If you’re thinking of selling, let us know.  Hurricane damage and flooding may wipe out some inventory for a while so we may be able to plug a buyer into your property soon.

If you’d like to search for your piece of paradise, check out www.LeeCountyOnline.com or call us at 239-489-4042  Power is not on at our office yet as of day we wrote this article, however we are taking calls remotely when we can.

Additional Resources:

We found a neat NOAA website that allows you to track damage to your Fort Myers property.  Click on the Hurricane Irma Imagery and zoom in to the area.  NOAA is updating this with new flights and sensors so new maps will be posted regularly.

Lee County Schools will not reopen until Sept 25th.

Hurricane Preparation Tips- 3 Yr old video while we were still with RE/MAX.  Tips still good though

Fort Myers Beach Sunset 1 Month Before Irma

Let’s start with what we know and work backwards.  Homes priced $200,00 or less are flying off the shelves with multiple offers.  Homes up to $250,000 are as well in some neighborhoods, but not all.  This assumes the home is in good condition and priced correctly.  So, you might wonder why we’re asking the question, are changes brewing in Southwest Florida real estate market?

Buyers are still buying; however, we’re noticing they’re price sensitive now.  Prices have gone up so much perhaps it’s testing the limits of what buyers can or will pay.  Sellers are counter-offering offers and buyers aren’t just accepting that.  They are negotiating back and forth until both are happy. Some buyers are walking from counter-offers.  We’ve seen this over the years and it appears it’s no longer a seller’s market across the board.

Changes Brewing in Southwest Florida Real Estate Market median time to contract

The numbers from June seem to bear that out as well.  The median time to contract jumped 7 days in June from May’s numbers, and 9 days from last year.  It’s taking longer to get contracts on houses.  It’ll be interesting to see July’s numbers in a few weeks.

Changes Brewing in Southwest Florida Real Estate Market Median time to sell

Median time to sale also jumped to 117 days.  That’s a 11.4% increase from last year.  New listings are up 5.8% and new pendings were down 1.6% from last year.  Could these be leading indicators for sales in months to come?

So, what’s the takeaway here?  Sellers need to take a good hard look at their price and make sure they’re competitive.  If your home has been on the market awhile, it may be time to re-evaluate where you stand.  New listings could have come on the market and become instantly more attractive than your home, or other sellers may have reduced their price.  Both events can affect you.  Sometimes as little as $2,000 in some sub-markets can be the difference between selling and sitting.

We are in a price sensitive market, primarily because prices have risen and stretched home buyers thin.  They simply can’t purchase as much home as they could have a year ago.  We warned buyers this would happen.  And we’re warning sellers not to get too greedy now.

Prices are good.  Buyers are buying.  We don’t have a runaway market where the seller gets to dictate all the terms.  Buyers and sellers are on even ground right now, and price matters.  Sellers, you’re not in competition with the buyer.  You’re in competition with all the other sellers out there competing for your buyer.

Buyers, same thing.  You’re not in competition with the seller.  You’re in competition with all the other buyers out there for the best properties.  The best valued homes always sell fast. You don’t want to be late to the table and eating scraps when you could have had the best.  Be prepared. Get your financing in order so you can jump when that property hits the market.

To take advantage of opportunities in this market we’d suggest sitting down with us and going over your objectives.  As a buyer, we can show you the best homes and eliminate the rest. Wasting time on the junk takes away time looking at the good stuff.  That can be the difference between success and failure.  Let an Ellis Team professional work with you and save you time.  We have some other tips for you as well that we’ll save for when we meet.

Sellers should have the same sit-down with us.  We’ll educate you on the market, look at your competition, and show you how we market better than anybody.  This can be the difference between selling and sitting on the market.

Feel free to search homes at www.LeeCountyOnline.com  Our database comes directly from the MLS and is always up to date, unlike some of these other sites with bad or outdated data.

You can always call us at 239-489-4042  We’d love to help you buy or sell your next home in paradise!

Ellis Team Weekend Open Houses

Open Sat 1-3 PM

13812 Lily Pad Cir Gate 2 Reflection Lakes

Reflection Lakes

13812 Lily Pad Cir

3 Bed, 2 Bath, 1,474 SQ Ft 2 Car Garage-Gated Community

$250,000

 

Open Sat 2-4 PM

Lakefront Condo with 2 Car Garage

Fisherman’s Cove

10081 Lake Cove Dr Unit 101

3 Bed, 2 Bath 1,564 SQ Ft 2 Car Garage

$227,500

 

Open Sun 1-4 PM

Daniels Park 3 Bed + Den

Daniels Park

14011 Danpark Loop

3 Bed, 2 Bath 1,830 Sq Ft Gated Community

$275,000

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

Southwest Florida December home sales were down 5.5% from last year and pending inventory fell 8.4% from last year, a worrisome sign to agents heading into 2017.

December 2016 may be an abnormal year as we just came off the most contentious election cycle I can remember.  January sales normally don’t start heating up until the 2nd half of the month.  Already we’ve seen strong buyer activity which may be a sign that consumers are now moving forward after a lull in 2016.  Potentially we have a lot of pent-up demand.  Consumer confidence seems to have increased post-election.

Southwest Florida December Home Sales

Single family home prices increased 8.7% over December 2015.  Many of these sales would have been in place before the election, so that is a positive sign.  Listing inventory declined slightly from November although it is up 11.4% from December 2015.

We’ll be keeping our eyes on inventory levels moving forward into 2017 as well as pending and closed sales.  One month does not make a trend.  So far we’re still seeing mixed signals but all indicators were pre-election.

The other thing we’ll watch in 2017 is interest rates and job creation.  Interest rates rose in 4th qtr of 2016 and the Fed has signaled more in 2017.  They predict 3 more Fed increases.  It’s impossible to know how the overall market would respond to that as the Fed doesn’t control bond prices or mortgage rates directly.

We hear great news on the manufacturing front.  Jobs returning to the US would be a boom for real estate.  Quietly we’re losing other jobs, like retail brick and mortar stores.  Macy’s, Sears, Kmart and others are closing stores as sales are off at malls and retail stores.  It may very well be that sales are not off, just a reformation of how people are shopping.  We believe more people are shopping online and less at malls, but that’s just our guess.

Real estate consumers are also researching and shopping online.  Last month our websites earned over 7,000 user sessions by over 3,700 unique users researching our market and searching for property.  This doesn’t include our social media sites.

Remembering back to life before the Internet, we never had 3,700 people coming through our team’s doors each month.  Sure, we had more than most as we have always been large advertisers, but no team had that many.

Online shopping has really opened how consumers access information.  To capture these buyers agents must have a website that serves timely and useful information, and presents it in such a way that is mobile and consumer friendly.

38.76% of our property search traffic is mobile and another 16.03% is tablet.  Combined that equals 54.79%.  More than half our traffic is mobile, which means less than half are searching on desktop.  Therefore having a team ready and able to respond to leads quickly is critical.  Statistics show buyers work with the first agent they talk to and build a trust with.  Communicating with a lead within first 5 minutes is key.  Agents are busy and can’t always call a lead immediately, but when they can conversions go up.

Buyers want to buy from somebody.  They just want to work with someone who can answer their questions and solve their problems.  Faster response times just increases your chances.

Buyers, if you’re looking to purchase or curious about the market, check out www.LeeCountyOnline.com  It has everything you need and database is updated every 5 minutes.  Hard to believe, but it’s true.  I’ve tested it.

Sellers, if you’re looking to sell, hiring an agent that will proactively market your listing and reach today’s online buyers is critical.  In addition, they must have a team in place to service these leads quickly.  Without these tools and the agents to work the leads, your home is just sitting on the market waiting for someone to possibly find it.  We don’t wait!  We market!

Agents, if your sales are coming up short because you don’t have the leads, maybe we should talk!

Always call the Ellis Team!  239-489-4042  We can sell your home!

Southwest Florida Real Estate Market Update January 2017

We’ll have an updated Seller’s Club coming out in next few days.  Until then, here is December’s Report.  Please contact us if you’d like to have this report emailed to you each month.

 

Ellis Team Open House

Ellis Team open house Reflection Lakes
Reflection Lakes Open House

Open Sunday 1-4 PM

Reflection Lakes  Gate 2

13624 Gulf Breeze St

$285,000

Back in April we reported sales seemed to be picking up just a bit after a lackluster season. We’re happy to report some encouraging news with SW Florida real estate sales picking up slightly.

SW Florida Real Estate Sales Picking Up Months supply inventory
Months Supply of Inventory June 2016

The trend we saw in April bears out in the statistics. Month’s supply of inventory in all but one price range declined which means there are more sales relative to the amount of inventory on the market. We’ve supplied a chart comparing month’s supply of inventory for single family homes in Lee County Florida in June compared to April 2016. While there is still a large amount of inventory priced $400,000 and up, numbers are looking better.

SW Florida Real Estate Sales Picking Up

Closed sales May 2016 SW Florida Real Estate Sales Picking Up
Closed Sales May 2016

We reported that sales were down about 20% earlier this year; however closed sales in May were just about even with last year’s numbers. While February and March sales were down from last year, May is showing some progress this year.

Brexit is in the news and the jury is still out on its effects on our national and local markets. One boon could be lower rates as we see a global flight to quality to US treasuries. When this happens it drives down mortgage rates which are largely based off the 10 yr note. Lower rates would add buying power to local buyers and create newly qualified buyers into the market. The downside could be a lack of consumer confidence and exports which could cost jobs, so we’ll have to wait and see how this all plays out.

Every circumstance presents a new opportunity, so we’ll be looking for creative ways to market to the opportunities as they present.

New listings are up 10.6% in May, so hopefully the pending sales keep coming and keep that supply of inventory down. Pending inventory fell 12% in May over last year while inventory increased 14.1% in May over last year, so we’ll have to keep our eye on that.

There are so many statistics we research each month that give us a guide to where the market may be headed. It’s worked well in the past and sellers appreciate reviewing all the data when they’re making selling decisions on their home.

This is one of the reasons we’ve decided to start up a Seller’s Club. The Ellis Team Seller’s Club is a group of people who have their home on the market or are considering selling their property and are thirsty for market data. We produce a video going over many charts and analyzing the data. We only have so much room in each of these articles so with the videos we’re able to present much more. All of the data is geared to sellers and what they need to know. If you’re listed with another broker this is not a solicitation to obtain your listing.

If you’re considering putting your home on the market then you definitely want to tune in. Just email me at Brett@topagent.com and ask to be placed in our Seller’s Club and we’ll add you. It’s that simple, and you’ll look at the same data we look at and receive expert analysis of what it all means and how it affects you.

If you’d like to search the MLS like a pro, head on over to www.LeeCountyOnline.com Our database is updated every 5 minutes, so you’ll find hot new properties before other buyers do. If you’d like to list your home now, give us a call. 239-489-4042 We’re easy to talk to and we’re here to help.

Good luck and Happy House Hunting!

July 4th Independence Day Specials

 

SW Florida Real Estate Featured Properties
Olde Hickory Golf Course Home

14381 Hickory Fairway Ct

4 Bedrooms, 3 Baths

 

 

 

 

SW Florida Real Estate Reflection Lakes
Reflection Lakes Pool Home on Lake

13925 Bald Cypress Cir

4 Bedroom, 3 Bath Pool Home on Lake

 

 

 

 

 

 

Whiskey Creek pool home SW Florida Real Estate Fort Myers
Whiskey Creek Pool Home

5668 Jerez Ct

3 Bedrooms, 3 Baths, Oversized Lot

 

 

 

SW Florida Real Estate Viridian Fort Myers
Viridian Pool Home on Lake

12407 Arbor View Dr

4 Bedrooms, 4 Baths, Pool Home Lakefront

 

 

 

SW Florida Real Estate Cape Coral Pool Home
Cape Coral Pool Home

2110 SW 13th St

3 Bedrooms, 3 Baths, 4 lot site

 

 

 

SW Florida Real Estate Bella Casa
Bella Casa Home With Garage

Bella Casa Home Fort Myers

3 Bedrooms, 3 Baths with Garage

 

 

 

SW Florida Real Estate Bella Casa Riviera
Bella Casa Riviera Floor Plan

Bella Casa Riviera Floor Plan

3 Bedrooms, 2 Baths, Community Pool

 

 

 

The Ellis Team Seller’s Club is brought to you by the Ellis Team – Keller Williams Fort Myers & The Islands

A few months ago we informed readers about a possible shift in the local SW Florida real estate market.  Agents were calling complaining that their buyers didn’t have a sense of urgency and just weren’t responding to seller’s counter offers. Today agents react to shift in local real estate market.

Times have been tough for agents lately.  Season is the time agents can make it up if the rest of their year has been flat, but this year things were different.  Our sellers did fine as we saw the changes coming and recommended strategies to get our client’s homes sold.

Agents who read this article or study the market the way we do also made changes, but many agents didn’t and are hurting today.  Some are leaving the business, while many more are getting into the business.

You might question if some are getting out why would others be getting in?  Truthfully, it’s happened before.  A whole new crop of newbie agents don’t know what’s happening in the market, and that’s a good thing.  It’s not good that they won’t know the market, but it’s good that they’re not listening to the doubters as you’d never make it in this business if you listened to negativity.

And besides, there’s always room for good people no matter what the market is doing.  This business isn’t easy.  Buyers and sellers need good quality agents to guide them, and these shifts in the market can help weed out some of those agents.  Agents who didn’t make it on their own will flock to teams, which is maybe where they should have been to begin with.  Teams spend lots of money generating leads.  Capturing today’s buyers and sellers isn’t free and newer agents just don’t have those resources to spend and stay in the business.

Agents React to Shift in Local Real Estate Market

Agents React to Shift in Local Real Estate Market March Home Sales
March 2016 Home Sales and Dollar Volume

 

It’s always been said that when prices rise sales naturally fall, and you typically make up for the slower sales with increased volume.  With fewer sales, this means some agents won’t be getting a piece of the pie, but the agents that do will have larger pieces.  But what if that wasn’t true either?

I pulled up unofficial statistics for March and noticed home sales were down 18.74% from last year.  I looked at total dollar volume and it’s down 25.65%, even more than the drop in sales.  This tells me prices have dropped, or sellers have dropped their prices.  Total dollar volume has dropped through a combination of fewer sales and lower prices.

I expect average prices to drop in March and quite possibly median prices too when numbers are released later this month.  I did not study median prices for purposes of this article.

The news is not all bad.  This doesn’t mean prices have fallen 25%.  It means that if a seller was listed too high their home didn’t sell.  Perhaps it was 5-10% too high.  In any event, the market rejected it.  If enough sellers are 5-10% too high, number of sales fall and so can sales volume.  If all the sellers out there reduced their price to where the market really is, number of sales might be the same or better.  Sales volume might be slightly lower because prices are 5-10% below last year, but you wouldn’t see declines of 25%

Not all real estate is lower.  Some prices are appreciating while some are taking a break from recent peaks.  It pays to hire an agent who has experience and can guide you through these market shifts.

And if you’re an agent who is struggling but feel you have what it takes to succeed in real estate, perhaps consider joining a team.  Yes, your splits may be different, but you’ll actually have business and profit because you have leads and guidance versus wallowing with few leads and little coaching.

If you’re a buyer or seller, you can search the market and do market research at our MLS Search Site. You can always call us at 239-489-4042 and one of our agents will be happy to guide you through the market.  And if you’re a good agent that needs some help, call us too.

Ellis Team Featured Listings

Important Interview Questions Before You Sign Any Listing Agreement

Neighborhood of the Week – Reflection Lakes

In the old days we used to send out market update reports to neighborhoods which would provide homeowners a list of nearby properties on the market, pending, and recently closed sales.

New Market Report for Home Sellers in SW Florida
Sample Market Report

Sellers loved the information because it gave them a handy reference guide of similar homes in their neighborhood.  They could take it and drive by those homes and compare locations and appearance to their own home.  People would track homes for months especially when they had a potential interest in selling in the near future.

We pioneered the online computer valuation estimate even before the big national online valuations came out.  Sellers are now able to go online at sites like  www.LeeCountyOnline.com or www.Ellisteam.smarthomeprice.com  and get an instant price analysis of their home.  These sites are great and sellers love them, but they don’t give you the list of comparables like those old reports did.

One of the problems with the old reports was they were somewhat outdated the day they came out.  Agents compile the reports and send to printer.  Once it’s printed, they get mailed, which takes time.  They weren’t real-time.

We decided to bring back those reports, but not for just a few select neighborhoods.  We want everyone to have them, and in real-time.  And we’ve done it.  Introducing new market report for home sellers in SW Florida.

Simply go to Market Reports section on our website.  You’ll see several neighborhoods listed with more on the way.  If you don’t see your neighborhood listed, don’t worry.  Just click on a neighborhood, any neighborhood.  At the top select Create Your Own Market Report.  With just 2 clicks you can select your neighborhood and yours is created.  You can even save it and have it sent to you monthly.

We’ve created market reports for neighborhoods like Reflection Lakes, Whiskey Creek, Cross Creek Estates, Danforth Lakes, Highland Pines, Caloosa Trace, Daniels Park, Botanica Lakes, and even the Downtown River District high rise condos.

You can see what homes and condos are listed for, which units are going pending, and what homes are selling for.  You’ll get the price per square foot for each home along with the averages so you can compare your home to the market.

It’s all in Real-Time, just like our MLS search site.  You won’t have to wait for properties to close, agents to compile reports, and the postal service to send them.  Our database is updated every 5 minutes. Don’t believe it?  Test it out.  Within an agent inputting a listing or sale in MLS, our system updates.

If you’re thinking about selling, www.LeeCountyOnline.com will be a great resource.  There’s no substitute for professional advice though.  Please call us and find out how our marketing is bringing more buyers and top dollar for our sellers.

If you’re a buyer, you’ll love the website too.  It’s hard to find properties and beat out other buyers to hot new listings.  Because our site is updated every 5 minutes you’ll have a distinct advantage over other buyers.  Our agents are great and listen to your needs.  We’re not here to sell you anything but rather find you what you’re looking for and help you get it.

Our people are the best, and our technology isn’t too shabby either.  Call us and we’ll talk, or login and see the difference.  Not all Realtors have the same people skills or the same technology.  And they don’t all spend the money to market your home the way we do either.

Call us at 230-489-4042.  Good luck and Happy House Hunting!

Large 5 Bedroom 3 Bath Home in Danforth Lakes

Danforth Lakes Market Report 5 Bedroom 3 Bath Pool Home
Danforth Lakes Pool Home 5 Bedrooms 3 Baths