Interest Rates Influence Home Sales

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If you look at the chart you will see how interest rates influence home sales. Look at 1982 as an example. As interest rates began to fall, the number of home sales began to rise. Then again starting in 1996 we saw rates falling and home sales rising.

Interest Rates Influence Home Sales

Fast forward to 2021. Rates bottomed out at 2.74% then started rising. Almost simultaneously home sales began falling. Sometimes there is a lag, but if you look at the chart many times it’s instantaneous.

Interest Rates Influence Home Sales in 2024

Nobody knows for certain where rates will be in 2024. As I write this article the 10-year yield stands at 4.471%. Three weeks ago, it was at 4.934%, so it has fallen about a half percent in the last 3 weeks. Some believe the Fed is about done hiking rates. Others believe the Fed may have one more rate hike in them.

Keep in mind, mortgage rates are not directly tied to what the Fed does. The market sets its own rates more closely tied to the 10-year yield. This is why we study it so much. What the Fed does can influence the 10-year yield, but the markets can also buck whatever the Fed does and do their own thing too.

Most people we talk to believe interest rates will start coming down some in 2024.  Most agree it could eventually get down into the 6’s somewhere, sometime between later 2024 or mid-2025. The average interest rate from 1971 through 2023 is 7.74% If rates come down into the 6’s, we could see a lot more buyer activity, which begs the question. If I am a buyer, should I buy now, or wait?  We’ve written several articles on this. We believe if you need a home, buying sooner before rates fall might help you beat out other buyers who have also been waiting for rates to drop. We know that interest rates influence home sales.

Should Homeowners Sell Now?

This depends on your needs. Some say prices nationwide could fall further as rates stay in the 7’s, but could level off once they hit 6’s.  Our advice would be, if the home isn’t working for you now, consider selling now. This is especially true if you’re selling and buying as you’ll be buying before rates fall and buyers jump back in.

Election

Truthfully, nobody knows where the economy will be in a year, what inflation will be, and what the election will look like in 2024. I saw an analysis the other day that showed election years tend to be steady until the uncertainty of who takes over shakes out. If this is true, we could see a steady year in 2024 with peak interest rates beginning or thinking about falling. This could set us up for a decent 2025.

Home Sales

We expect there to be about 4 million national home sales in 2023, and about 3.7 million in 2024. Unemployment may rise, which was the Fed’s goal to bring down inflation.

Florida may outpace the rest of the country once rate direction becomes established. Living anywhere in the South half of Florida might be a good bet, if you can afford it. Rising insurance and taxes are pushing some out while a new crop of buyers replaces them.

Always Call the Local Experts

The Ellis Team studies the market as well as anybody. Our team can guide you through your decision. We listen before we offer advice. We’re not here to sell you anything. Our goal is to help you make the best decision for your family. We might challenge you with some facts so you have something to think about. We don’t follow the herd mentality, rather what is right for you.

You can call us at 239-489-4042 or visit www.LeeCountyOnline.com and search the MLS like a pro. Your data will never be sold to 3rd party companies or other Realtors, so you won’t have 20 Realtors calling you by signing up. Your data is safe with us, and you will only hear from us. Now that’s a Thanksgiving deal worth celebrating!

Hope your turkey dinner was great. Let us know how we can help you!

Ellis Team Weekend Open House

Open House Saturday 12-3 PM

Ellis Team Weekend Open House River Grove Estates
Over 1 Acre

3199 River Grove Cir, Fort Myers, FL

Over 1 Acre Lot with fenced back yard, shed, 2+ car garage

Real Estate False Imprisonment

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Today we want to explore real estate false imprisonment. Back in 2007-2012 we used the term real estate prison because people felt they were in prison in their own home because they were upside down on their mortgage.  The only way out was to short sale, bring a bunch of money to closing, or default and risk foreclosure. Their needs changed but they could not financially get out.

Real Estate False Imprisonment

Get Out of Jail Card

Virtually nobody is in real estate prison today because so many paid cash in the big runup or paid a large down payment because they were competing with other buyers. Additionally. prices appreciated so much and have not fallen like they did back in the 2000’s. Sellers today do not feel like they are a prisoner in their own home because of home values, they feel locked in for another reason. We call it real estate false imprisonment.

So many people financed their home at rates around 3% and they don’t want to give that up. If they were to make a move today, they would trade in that 3%ish rate for something closer to 7% or more. So, many are holding tight.

Waiting For Interest Rates to Change Could Cost You

Last week we talked about how waiting for rates to come down might hurt many home buyers. This is also true for homeowners who feel locked into their existing home. There is a downside to waiting to make a move.

Here is what we do know. A home feels comfortable for you for a period of time. It meets your needs. Then things change in your life, and your homeownership needs change. Some people outgrow their home, others want to downsize when the kids move out, and others need to change locations. Still others get tired of the homeowner life and opt for the carefree condo life. Some try the condo life and love it while others say not me and move back to a single family.

Whatever your needs are, they change over time. Back in the early 2000’s people were locked into their homes due to financial reasons. This isn’t true today.  While it can be uncomfortable living in a home that no longer works for you, many do it. Most do not realize there is a better way. Sellers today have options, and there is more inventory available to move to. When rates were rising, many sellers didn’t pull the trigger because they didn’t know where they would move to. Be sure to read last week’s article “Interest rate Purchase Strategy”

New Programs

We literally have new programs now that allow you to purchase another home, so you are not homeless, then sell your existing home. You only make 1 payment on the new home with no payments on the existing home. This gives you time to move into the new home and sell the home that is no longer working for you. You also avoid having 2 payments.

Trusted Advisor

The key is sitting down with an experienced Realtor you trust and going over your options. We perform a needs analysis and identify where we can improve your situation. Our team has resources to help you identify ways to make a move happen for you at the least inconvenience to you, and the least cost. It doesn’t cost anything to sit down with us and discuss your options.

We know what it’s like to sell and buy. We’ve done it ourselves, and we’ve helped thousands of clients just like you do it. Making a move doesn’t have to be hard if you’re working with the right people.

Give the Ellis Team a call. 239-310-6500. Brett and Sande will sit down with you and discuss your needs. Is a move right for you? We won’t know until we talk. For some it is the right move. Some decide to stay put. The decision is yours, and it’s always easier with the right information. We are not here to sell you anything. We enjoy giving people their options. Should you decide a move is right for you, of course we’d be honored to work with you. Don’t let real estate false imprisonment keep you from living in the home that best suits your needs. Or visit www.swflhomevalues.com to get a quick estimate of your home’s value.

Good luck, and Happy Selling!

Interest Rate Purchase Strategy

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We’ve been having a lot of discussions lately with buyers regarding their interest rate purchase strategy. With rates rising so fast, naturally they ask the question if now the right time is to buy.

Here is what we know about interest rates, and the 3 implications of waiting for rates to drop.

Interest Rate Purchase Strategy

Interest Rates Could Go Up

If rates go up, it will cost you to wait. As rates increase, so does your payment.  You may even qualify for less home if rates continue to rise.

Interest Rates Could Stay the Same

We could have a period where rates stay the same for a while. In this scenario, as a renter you’re getting nowhere.  Your landlord thanks you, but you are gaining no equity whatsoever. When you rent, the interest rate is always 100% because all goes to somebody else and none to you or your equity.

Interest Rates Could Go Down

This is perhaps the worst possible scenario for buyers. Like you, other buyers have been on the fence too. When rates decline, other buyers hop off the fence and jump into the game. They become your competition for buying the same homes you are looking at.

When this happens, it can put pressure on the market and cause prices to go up. We saw this movie a few years ago when the rates were lower. Buyers were tripping over themselves to buy anything they could. At this point, sellers are not your competition. Your competition is all the other buyers looking to purchase the same home you are.

Added Benefit

Not only can you lock in a home price today while there are fewer buyers competing for more homes, you have an added benefit. You may be able to refinance later when rates come down. Contrast this with buyers who wait. They may be paying a higher price for the home. You locked in your price when rates were higher, and now you can refinance at the same rate they’re trying to buy a similar home for. You’re both financing at the same rate down the road, but you may be in the home for much less because you bought before prices started rising again.

In all three scenarios a buyer is better off buying today than waiting for rates to drop. We haven’t even mentioned yet the tax advantages of writing off interest versus rent. It’s easy to follow the masses and do what everyone else is doing because there is safety in numbers.

The truth is, this is where the opportunity lays. Opportunity always comes from doing the opposite of the masses. In the stock market you buy when everyone else is selling and sell when everyone else is buying. While we are not giving stock advice or predictions on what the real estate market will do, we do know a few things.

Over time, owning your own home is a good bet. The sooner you start that process the more wealth you are likely to have over your lifetime.

Home Buyer Seminar

The Ellis Team conducts home buyer seminars for people wanting to learn how to get into their first home or build wealth through real estate. If you’d like to attend a future seminar, give our office a call at 239-489-4042 We’ll be happy to get you into our next seminar, or meet with you one-on-one if that helps too.

You can also search for all the homes in MLS at www.LeeCountyOnline.com Our team is experienced and can give you the latest market data to help you make better decisions. We also have access to financing options that you might not know about. We have ways to get that rate down and several programs to get that down payment down too.

The Ellis Team looks forward to helping you make a good decision for your family. If you are a seller, you should call us too. Put our Know How to work for you. Experience wins the day, and the Ellis Team definitely has the experience.

 

Good luck, and Happy House Hunting!

Zillow Busts Agent Marketing Budgets

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Most buyers and sellers do not realize that Zillow busts agent marketing budgets. Let’s explain what Zillow is and what they do.

Zillow Busts Agent Marketing Budgets

What is Zillow?

Zillow is an online portal that collects leads from buyers and sellers by displaying property information from the MLS. They made their mark by offering the Zestimate which was an online value generator for homes across America. Homeowners were intrigued by the Zestimate because it was a way for them to track their home value over time. It wasn’t always accurate, but that didn’t matter. It was exciting.

Later on Zillow got into the homebuying business and bought homes to flip. They later discarded this business because they admitted they were unable to accurately predict a home’s value, nor the future direction of a home’s value. So now they pretty much stick to selling leads to agents.

How Zillow Busts Agent Marketing Budgets

Zillow collects a fee on every transaction for agents in their Flex program. The fee in the Cape Coral/Fort Myers area is 40% on homes over $300,000. It is 35% between $225,000-$299,000. Most home sales in Lee County are above $300k. What this means is the agent or team pays 40% of the listing side commission to Zillow first. Then, they must split with their broker. If there is money left over, they may have money to pay employees, rent, signs, phone, internet, gas, car, etc. Then there is advertising. If an agent is paying 40% off the top to Zillow, and another 10-50% to their broker, this isn’t much money left for advertising a home, or for buyers.

Dependent

 Agents become dependent on Zillow for everything. They receive buyer and seller leads, and they have little to no money left over to acquire leads or advertise in other places. Zillow has another program called Zillow Premier which allows agents to pay a monthly fee. I know some agents paying $20,000/Mo for this program. They avoid the high referral fee on each transaction, but again the money is sucked up by the monthly spend. The agents become dependent on Zillow for leads because so much of their budget is tied to one source. To be fair, there are other agents paying $5,000/Mo or less, but they get even fewer leads that way.

In the Way

All Zillow does is get between the agent and the transaction. Zillow is not alone, there are other online portals like Homes.com, Realtor.com. etc. Each of these charges leads back to agents in some form or fashion.  What if that money went to advertising a home instead of online portals like Zillow?

Who is to Blame?

Zillow is in business to make a profit. Some agents like the easy button where they acquire leads to work on for a price. Some agents don’t have or maintain a client database. They are transactional agents. They love working the deal, but then that’s it. Relational agents like to keep in touch or hold client events. It’s more of an ongoing relationship versus a one and done transaction. Consumers do not know the business and they like some of the features of Zillow. They don’t realize many of those features are available in other places. Other sites may have even better features, but Zillow spends so much advertising themselves that consumers find their way there. Zillow bids up the keywords and consumers click on the first link they see in some cases. So, nobody is to blame, and yet look at who benefits.

We Do Not Advertise on Zillow

The Ellis Team quit advertising on Zillow years ago. Our website has some better features www.LeeCountyOnline.com and www.SWFLhomevalues.com and we prefer to spend our advertising dollars on our clients and our clients homes. I am sure there are some very successful agents who still advertise on Zillow. We choose not to. Zillow’s success makes no difference to us as we do not use them. We do not blame other agents who do. We just want consumers to realize where their commission dollars are going and decide for themselves whish way is best for them to buy or sell.

Always Call the Ellis Team at Keller Williams Realty 239-489-4042 We’d love to talk to you about how we advertise your home and get Top Dollar. We’ve been voted the Best in Real Estate for 11 straight years by News Press readers.

Ellis Team Weekend Open Houses

Open House Saturday 12-3 PM

8515 Oakshade Cir #101 Fort Myers, FL $330,000

2 Bedroom 2 Bath in South Fort Myers
Open House Saturday 12-3 PM

Open House Sunday 12-3 PM

1417 NE 34th St Cape Coral, FL $330,000

3 Bedroom 2 Bath cape Coral Home
Open House Sunday 12-3 PM

 

Salespeople Versus Order Takers

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I want to talk about the difference between salespeople versus order takers. Most are surprised to know that 87% of Realtors fail and leave the business within 5 years. This means that only 13% have been around since 2018.

We often see real estate agents leave the business when the market shifts. 2023 is no exception, and with real estate closings down significantly year to date, we expect more to leave the business when board fees become due at the end of year.

Skills Based Market

The 2023 Southwest Florida real estate market is a skills-based market. Only the best salespeople will survive because there are less transactions to go around. A few years ago, anyone could sell a home because the market drove sales. In many cases, you just had to show up with a blank contract in hand and write it. Buyers and sellers didn’t seek out the best agents because in their mind it didn’t make a difference. They just wanted someone there now! I would argue that did cost some of them, but that’s another story.

Sellers Need Salespeople Versus Order Takers Now

Today, things are different. Homes do not sell in a day, and certainly not with 50 offers each. It takes marketing and salesmanship to get the job done. Agents need to learn to probe deeper and find out what’s going on. When a buyer says no, there might be more to the story. Overcoming an underlying issue that has nothing to do with what the buyer said may make the difference.

salespeople versus order takers

Often the buyer’s first objection is not the real objection. Too many times we see agents solving for the objection they heard versus probing for the true objection. When agents spend time and energy solving an objection that isn’t even real, they’ve wasted an opportunity.

Imagine you were playing a game of Find and Seek. If you took the clues down the road on the right and spent all your time there, you’d be disappointed to find out the object was on the road to the left. You would have wasted all your time looking for something that was never there.

Isolate Objections

Buyers don’t intentionally lie. They throw out objections to slow the process down, because they are afraid, or they have not thought enough about what they truly want. A skilled agent learns to isolate the objection. By isolating the objection, you can determine if you chose the right road, or if you need to ask more questions. No sense spending time on the wrong road. It’s hard enough to find solutions on the right road, let alone choosing the wrong road.

This is why sellers today need salespeople versus order takers more than ever. When the going gets tough, 87% get out of the business. When you hire an agent, you want to know three things.

  1. Your agent will be there until your house sells, not quit the business.
  2. The agent you choose has been through a shifting market like this before and survived.
  3. Your agent has a plan to sell your home and overcome objections.

Experienced agents who thrived in up, down, and sideways markets give you your best chance because they have a track record. You have something to grade them by. When you hire a less experienced agent, you hire them because you like them. Liking an agent is very different than hiring the best agent. This is your home, your money, your life, and your success.

Always Call the Ellis Team

Sande and Brett Ellis have worked in the greatest Boom SW Florida may ever see, and the greatest Bust we may ever see, along with every shift in between. Today’s shift is easy peasy for us, because we’ve been here before and we thrive in a shift. We have the skills you need to sell! People skills never go out of style, and they are needed today. Call us at 239-310-6500.

If you’re an agent who is struggling, give us a call. We have sales positions available and leads. Our coaching and leads might just help you stay in this business and save your career.

Good luck, and Happy Selling!

Ellis Team Weekend Open House

8515 Oakshade Cir Unit 101 Fort Myers, Fl 33919

Open House Sunday 12-3 PM $330,000

Open House Sunday 12-3 PM
Super South Fort Myers Location

Online Real Estate Auction Bidding System

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The Ellis Team at Keller Williams is introducing an online real estate auction bidding system on select listings. We are using technology to speed up the process of selling homes. This system is different than our 8-day sales program which we also offer. Both programs are designed to attract top dollar while creating buyer urgency. Most sellers do not want to show their home for months on end, so we have solutions to solve that.

Online Real Estate Auction With Online Bidding

We place the home, condo, lot, or whatever real property we are selling in both the MLS and the online bidding site. Buyers are advised that this is an online bidding system. The seller is not obligated to take an offer, although most do. The online bidding might start at a lower price than the actual price in MLS. We typically like to have appointment windows where buyers can view the property before making bids.

The seller can decide if they will accept financing or cash only bids.  Buyers can enter their bid and can even enter an amount they would go up to with an auto-bid. Other buyers do not see what your auto bid number is.  If the other bids exceed your up to auto bid number, you will receive an email that you are no longer the top bidder. A buyer can then decide if they wish to change their bid to get back in the game.

Transparency

Buyers love the online system because they can see the number they have to beat if they want the property. In the multiple offer days buyers were most frustrated by wondering how much over asking price they must go to get the property. Nobody wants to overpay, and some buyers wondered if they actually did, and by how much. With this system, the buyer is in control. The buyer is not competing against the seller. The buyer is competing against other buyers, and there is transparency. Each buyer can see what it will take to score the property.

Sample Bidding History

Online Real Estate Auction Bidding System

We’ve included a screenshot of a recent auction by another agent held up North in another state. Each buyer can clearly see the auction history. This was page 3 of the auction history. This particular auction had 53 offers or amended offers.

This Weekend’s Online Auction

 This weekend the Ellis Team is hosting an online auction on 8268 Firwood Dr in Estero. The online starting bid will be $80,000.  The Ellis Team online real estate auction can be found at www.EllisTeamAuctions.com More info on the property can be found at www.LeeCountyOnline.com in the Featured Listings tab. We will be hosting an open house preview on Saturday and Sunday from 12-2 PM for interested bidders. Bidding ends Sunday at 6 PM

Terms

Each property can have its own terms. For instance, one seller might include a home inspection upfront and offer no inspection period while another may provide an inspection period. Other terms might include how soon a buyer must close, what the escrow deposit needs to be, etc. The winning bidder earns the right to go to contract with the seller if the seller accepts the bid.

Written Offers During Auction

Sometimes buyers decide to submit written offers directly to us as listing agents during the auction period. We redirect them to the online bidding site so that all buyers are playing fairly.

Interested in Selling?

This has been a brief overview of the program. If you are interested in selling your property, we have several programs that you may love. You can speak with Sande Ellis or Brett Ellis at 239-310-6500 and we’ll be happy to help you sell your home for Top Dollar and quickly. The Ellis Team has more tools to put more money in your pocket. Always Call the Ellis Team at Keller Williams Realty.

Ellis Team Weekend Open House With Online Auction

8628 Firwood Dr, Estero FL

Bidding Starts at $80,000 Bid Online

Online Bidding Ends Sunday 6 PM ET

Online Real Estate Auction
Online Real Estate Auction

Neighborhood Market Report Update in Real-Time

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We’d like to introduce you to the neighborhood market report update, and it’s a good one. It’s a popular feature for those that know about it, and one we haven’t found on any other website. It’s just one of the features at www.LeeCountyOnline.com that makes it the Go-To real estate website in Southwest Florida.

Neighborhood Market Report Update

Neighborhood Market Report Update

 What is the neighborhood market report update and why is it important to me you might ask? This report shows all the active listings, pending listings, and sold listings in one easy report.  However, it also allows you access to all the photos of each listing, even the pending and sold listings.

In a nice and easy to read format, you’ll also be able to see the price per square foot and the days on the market. It will also show you the sold date on each sold listing, so you can decide which listings you want to click on and check out.

We find this particularly useful for those who have a home on the market or are considering putting their home on the market. You can quickly look at your neighbor’s kitchen, bathrooms, and flooring when determining where to price your home. Many times, those considering selling see what their neighbors home sold for if they are lucky. They really don’t get to see the upgrades and renovations unless they personally go inside.

We’ve included a sample report. We randomly picked a neighborhood that only had a few listings so you could get an idea of how the report shows the actives, pending, and sold properties. This neighborhood doesn’t have any pending sales currently.

Upcoming Changes

 We believe there may be a change coming soon to the way listings are displayed in MLS and on the portals. If these changes occur, it could drive more traffic to the bigger players who hold more of the listings, and the data. Currently www.LeeCountyOnline.com holds more of the data, and the Ellis Team combined with Keller Williams controls a large share of the market. By control I simply mean we work with a larger number of listings than a lot of brokers.

Find Out What Your Home is Worth

One of the other things people love on this site is the Free home valuation report. The quickest way to get there is www.SWFLhomevalues.com but it is hosted on the LeeCountyOnline.com site. The home valuation tool not only gives a fast value for your home, but it also automatically updates the value each month. This is especially helpful when the market is changing.

Advanced Searching Capabilities

Customers love the advanced search, which gives you control over 20 additional MLS features you can search on. And if that’s not enough, our agents can log in and help you create a search on every single MLS feature, even the ones you don’t know about.

In Person

Of course, Sande and Brett Ellis love talking with people about their real estate needs. We don’t hide behind a website to serve you. Our website is there to provide additional tools nobody else offers. Brett and Sande are here to provide insight and experience few in this market possess. Simply call us at 239-310-6500. We can’t help you if we don’t talk to you. Even if you’re not ready yet, no question is a dumb question.

Always Call the Ellis Team at Keller Williams Realty and let’s see what’s in your future.

SW Florida Real Estate Market Update

 

See last week’s article “Local Home Prices Down 3.6% Officially From Last Year“

Local Home Prices Down 3.6% Officially From Last Year

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Official sales numbers are in and it shows August median local home prices down 3.6% from last year. Average home prices were down 7.5% from a year ago. August median prices were $405,810 this August in Lee County compared to $420,750

Local Home Prices Down 3.6%

Average home prices this year were $535,629 compared to $578,873 last year.  If we go back and compare against the height of the market back in April and May of 2022, median home prices are down 13.66% and the average local home prices down 18.71%

We have been amazed at how stable pricing has been given two factors. Interest rates have gone from the 2’s into the 7’s in a record amount of time.  Secondly, inventory has quadrupled in the last 18 months.  While prices have remained amazingly stable the last 12 months, most people don’t realize the price declines we saw last year from May through December as rates began rising rapidly.

Buyers Waiting For Prices to Fall

We hear many buyers are cautious to purchase because they believe prices are going to fall. Nobody knows for sure if prices will continue to drop. However, most buyers do not realize prices have already fallen almost 14-19%

Buyers listen to the news, and the headlines say prices may fall out and foreclosures could rise. We believe the economy would have to get a lot worse for anything like that to happen.

We do know that for every 1% rise in rates it takes away approximately 11% purchasing power away from the buyer. Because rates have gone up more than 4%, you might fear buyers can now afford 44% less than they could 18 months ago.

This may be true. The hope is that enough people with money will continue to come to Florida. Interest rates have hurt a large portion of the market, but people moving here are the wildcards.

What We’re Watching

We are keeping our eye on inventory levels. They are spiking.  If the trend continues it would tell us more people are putting their home on the market than people moving here. For right now, inventory is OK.

However, we have noticed the rate of increase in listings the past few weeks. If the rate continues to climb while pendings continue to go down, this could change the dynamics in a matter of weeks.

Thinking of Selling?

I would call the Ellis team now 239-310-6500. Our inventory is still low as our homes have been selling. We hear from other agents they expect a slew of homes coming on the market starting in October. We have been on several listing appointments in the past 9 months where the sellers haven’t decided to sell yet. It could be that many decide all at once the time is right. Or visit www.SWFLhomevalues.com to get an instant online estimation of your home’s value now.

Government Shutdown

We are writing this article the Tuesday before an anticipated government shutdown. Any shutdown will not help real estate sales, as new national flood policies will not be written. Buyers will be forced to buy private flood insurance at sometimes much higher prices, or wait to close. We may be able to assume a seller’s flood policy if they have one.

FHA, VA, USDA loans may cease as well. This would disrupt a certain portion of the financed buyer market and would certainly harm home sales.

Tricky Times

Tricky times call for experienced agents. Home insurance is difficult on a good day. Throw in possibly higher rates, or high rates lasting into 2024 and 2025, and a government shutdown and you’ve got a mess. If you are selling today, you need an expert who’s been through market shifts, government shutdowns, and insurance problems before. About 85% of the agents working today have never worked in a shifted market, and even fewer were here for the 1995 and 2013 shutdowns.

Experience Matters

Always call the Ellis Team at Keller Williams Realty 239-310-6500. The Ellis Team has been voted Best in Real Estate 11 years in a row by News Press Readers.

Good luck, and Happy Selling!

Lee County Duplex Search Results

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Today we’re focusing on Lee County duplex search results. We’ve been getting a lot of inquiries from buyers looking to buy a duplex and live in one side and rent out the other. This makes a lot of sense right now with rising rates. Why not let a tenant help you pay for the mortgage, and help qualify for the mortgage?

Lee County Duplex Search Results

Last week’s article “Cape Coral Gulf Access Homes for $500,000 or less” was so popular we decided to keep it going. Many of you reached out or registered on the website to search for homes, obtain neighborhood market reports, or get your current home’s value.  We are glad you loved the information.

Lee County Duplex Search Results

 Currently 139 duplexes are on the market. They range in price from $149,900 all the way up to $3.995 million. Of course, I had to check out the $3.995 million duplex. It is located on Captiva right on the beach. It is gorgeous. I could see myself living there. Are there any tenants out there that would like to rent one side so I could live my dream and you help me pay for it?

Seriously, buying a duplex can be a smart decision for some, and many are looking into it. You must be careful though and make sure both sides are included. I’m looking through some of the listings and it appears some are listed with only one side included. While the building may be a duplex, the ownership might not be.

To see this search for yourself, go to www.LeeCountyOnline.com and look for Fun Searches on the right side of page. We just added Lee County Duplex search this week. Keep in mind, you can search Collier County, Charlotte County, and many other areas in Florida. This website is powerful and has access to more than just Lee County listings.

Saved Searches

 You can also create and save your own searches. Perhaps you have no interest in duplexes or waterfront homes. Maybe golf is your thing. You can create your own search, and our system will find it if it’s out there. Additionally, it will email you when new properties enter the market that match your criteria, so you’ll be the first to know. Just search away. Be sure to save your search if you see properties you like. Or favorite a property to keep track of it. Buyers like to know if a favorite property goes pending, when it sells, or if it has a price reduction. This technology will do all of that.

You can have an unlimited number of saved searches. For instance, I could set up a saved search for duplexes in one area of town and single-family homes in another. Perhaps I want to buy a larger home for me in one price range and a smaller condo for my parents, or children. There is no limit to the various searches you can set up.

We have access to every field in the MLS, so if you want to drill down even further, we can help you with that. Just give us a call.

Market Report

 Perhaps you live in a current neighborhood or have an interest in one. You might be interested in our market report page. www. https://www.leecountyonline.com/sw-florida-market-reports/  This page has access to sold listings and photos. No other website we know of has all this.

Home Value Report

 How would you like to know your home’s current value? Our website will tell you. The best part is it will email you your updated value every month.

Simply go to www.SWFLHomevalues.com and put in your address. It’s fast, free, and fun to watch over time.

Of course, We’re here to talk to. All this technology is great, but we love helping and talking to people, so give Sande or Brett Ellis a call at 239-310-6500. Good luck, and happy shopping!

Changes in the SW Florida Real Estate Market

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Cape Coral Gulf Access Homes for $500,000 or Less

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Today we’re focusing on what Cape Coral gulf access homes for sale $500,000 or less gets you. We love to showcase what you can buy in various price ranges and locations. As of today, the Ellis Team doesn’t have any listings here right now, so we’re not promoting any of our listings. This is for information and fun only.

Cape Coral Gulf Access Homes

Cape Coral Gulf Access Homes

 Currently there are 10 listings in the Cape Coral area that provide gulf access and are priced $500,000 or less. There were 11 when we started writing the article, and it changed to 10 by the time we finished earlier this week.

We searched in the MLS and our website, www.LeeCountyOnline.com. Both returned the exact same listings. The lowest priced listing came in at $399,900 and is a 2-bedroom 2 bath home with a pool. There were several listed around $500k which featured more square footage and bedrooms, as you would expect. We even found a 4-bedroom home listed built in 1989.

Not every home listed had a pool, but several did. The cool thing is our website allows you to search like a Realtor, so you can get as granular as you like. The system has advanced search tools which allow even more precision, and a map search as well. Basically, you can put in all the features you want in a home and select a map area and the website will return all listings in the chosen map area that meet your criteria.

Saved Searches

 Our website allows you to save an unlimited number of searches. Searches are different than listings. For instance, I could set up a saved search for condos in one area of town and single-family homes in another. Perhaps I want to buy a single-family home for me in one price range and a smaller home for my parents, or children. There is no limit to the various searches I can set up.

In one step, I can perform the search. Additionally, I can ask the system to email me when new listings enter the market matching the criteria I entered. Perhaps I’m curious about new listings hitting the market in my neighborhood. Or maybe there’s that one house across town I’ve had my eye on for years.

Fun Saved Searches

 For fun, I’ve created a page of saved searches. I will keep adding to this page. It can be found at www.LeeCountyOnline.com/fun-searches or go to the top right corner of LeeCountyOnline.com and find Fun Searches! Currently I have the cape Coral gulf access homes for $500,000 or less.  I’ll be adding golf course searches, Fort Myers searches, Fort Myers Beach Gulf front Homes, downtown homes.

As a user, you can look at my fun searches, or you can create and save your own.  If there are fields you’d like to search on and you don’t see them listed, we can help you create a super-search that has access to every single field in the MLS.

Market Report

 Whether you currently live in a neighborhood, or have your eye on a particular neighborhood, you might be interested in our market report page. www. https://www.leecountyonline.com/sw-florida-market-reports/  This page has access to sold listings and photos, so people really like this page.

Home Value Report

 Lastly, we have a page where you can get your home’s value online for Free. Simply go to www.SWFLHomevalues.com and put in your address. It’s fast, free, and fun to watch over time. Every month it will send you your new value.

Obviously, we’d love to talk to you. The computer is no substitute for a well experienced human being. We know not everyone is ready to talk to someone today, so we provide tools to research until you’re ready.

When you’re ready to talk, always call Brett and Sande Ellis at 239-310-6500. Good luck, and happy shopping!