Monthly Archives: September 2016

Market Responds as Sellers Heed Advice

Posted on by

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.

Finding SW Florida Real Estate Buyers Using Advanced Marketing

Posted on by

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 2<sup>nd</sup> 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

As the Real Estate Market Shifts September 2016

Posted on by

You’ve probably read headlines recently that the real estate market shifts have occurred . Not only is it true, it’s been predicted by those that study the numbers. However, the shift doesn’t tell the whole story.

Real Estate Market Shifts
Current Inventory

Just as we’re counseling sellers about the shift we see an uptick in listing calls and buyer contracts.  So if the market is shifting, how can it be that business has really picked up in last few weeks?

Perhaps you’ve noticed in just the last week the roads have gotten busier.  I sure have.  And I went to one of those large warehouse stores over the weekend and it was packed.  My wife and I both said “They’re back.”   That’s not why we’ve seen an uptick in sales these past few weeks however.

Real Estate Market Shifts new pending sales
New Pending Sales

We believe there is some pent-up demand. Buyers are desperately seeking homes in the $300,000 or less category, and we’re also seeing good activity in the $400,000+ range as well. We know the market as a whole isn’t as strong over $400k, so activity in this range is a good sign.

Real Estate Market Shifts

We’ve been watching official numbers and we are seeing declining closed sales, precipitated by declining pending sales, and increasing inventory. The numbers don’t lie and are indicative of a shift. Combine this with falling average sales prices and declining market volume and you know the shift is real.
So now that we know the shift is real, what can a seller do? Now more than ever it’s important to do 3 things.

1. Hire Experience- Agents who have worked and thrived through shifting markets are better able to guide through the experience.

2. Price it Correctly- You never want to get caught chasing the market down.  Not all price ranges are going down.  In fact, some are still going up.  Knowing where your home stands against the competition is critical.  Knowing where the demand from buyers is as well.

3. Marketing-Some agents say you can’t market your way out of a shift and it all comes down to price.  While it’s true that if you over-price a home, no amount of advertising and marketing will sell it, sometimes correct pricing alone isn’t enough.  This isn’t a bad market.  We’ve seen those before and this is nothing like that.  However, if it were a bad market, marketing becomes important because you have to do everything you can to reach the few buyers available for so many homes.

This is a shifting market, and that’s not necessarily a bad thing.  The market is fairly healthy.  Nothing goes up or down forever, and shifts along the way is a balancing act.  It keeps both buyers and sellers equal where neither becomes too powerful, but it can be scary if you’re on the wrong side of the shift.

Knowledge truly is power.  Knowledge leads to correct pricing.  Marketing is power too.  Marketing alone won’t sell your home, but it sure beats limited marketing.  Think of it as a sporting event. Shifts are won or lost by great coaches.  The talent on both sides are fairly equal.  Each side (Buyers and Sellers) has their set of strengths and weaknesses. It’s up to the coach to guide the team to a win.  The coaches right now are the full-time agents, and the agents with the most experience and winning track records are the ones to hire.

There’s a reason certain coaches win multiple Super Bowls. The top coaches are in demand, and teams pay them more money than first year coaches. It’s because they win, and if you’re a seller wanting to sell in a shifting market, you want to win. Hiring experience is the answer. So when the real estate market shifts, always go with experience.
We have a graphic in our listing presentation that reads “If you think it’s expensive to hire a professional, wait until you hire an amateur.” If you’re looking to buy or sell, call the pros at the Ellis Team 239-489-4042 or visit our website www.LeeCountyOnline.com and search the MLS like a pro.

 

16585 Wellington Lakes CIR, Fort Myers, FL 33908    13685 Wellington Lakes Cir

Open House Saturday 1-4 PM

 

Daniels Preserve Open Jouse
12494 Country Day Cir Open Sunday 1-4 PM

Future of Real Estate September 2016 Market Update

Beating the Post Labor Day Real Estate Stall

Posted on by

Hopefully everyone had a great Labor Day weekend.  The Ellis Team household celebrated with friends and family with a cookout and football party.  Good times were definitely had by all, and that’s the way it should be.  Beating the post Labor Day real estate stall isn’t rocket science, but more on that after we tell you about the stall.

I started cooking the day before.  I made all the sauces, put the rub on the meat, and eventually placed the pork on the smoker at midnight.  The plan was to smoke the meat at 225 degrees for about 17 hours.  The meat must reach a certain temperature, but inevitably the temperature gains stall out at about 160 degrees for a period of 5 hours or so.  This frustrates many who are not accustomed to the stall.

The stall is that period where temperature gains cease for a long while.  This is because at 160 degrees the meat begins to sweat and cool itself.  Juice go from the center to the edges during this time period.  One way to beat the stall is to wrap meat in aluminum foil at 160 degrees and keep the heat on.  By doing so you can retain some of the moisture and cut the heating time down.

Beating the Post Labor Day Real Estate Stall

So you might ask how does all this relate to real estate?  Each year after September the SW Florida real estate market reaches a stall.  If you know it’s coming there are things you can do to shorten the time-frame of the stall.  You must power through it as buyers and sellers are counting on you.

Beating the Post Labor Day Real Estate Stall

Knowing it’s coming is half the battle.  The other half is preparation.  Just as most of the work to cook the meat was done the day before, so it is true with the real estate market.

We continue to list and sell properties.  In fact, we’re cranking some sales now at a time when county-wide sales are down.  We don’t stop advertising, and we don’t stop prospecting for buyers for our listings.

In fact, much of the work we’ve done the past few months helps us with sales during the typical “Stall” time.  Some Realtors take off in the slow months, but this is the time to put the real work in.  Championships are built in the off season.  This was opening weekend and you can tell which teams put in the work as they were the most prepared for week 1.

When we list a home in September it’s very possible we already have the buyer we obtained in July or August.  We have a database of thousands of buyers we’ve worked hard to build up.  Some are buying today, some are buying tomorrow, and some next month.  We don’t control their time frame, we only control our efforts to obtain buyers for our listings.

Often times sellers will ask us if we have a buyer for their home.  Quite often the answer is yes.  When we take a listing we bring it back to our team of agents who cross-check our database to see if we’ve got someone for that home.  Perhaps we have someone flying in on October 2nd who matches perfectly.  Perhaps we have someone now.

In any event, we market the home too, because even though we may have 3 buyers for our listing the market may have one ready, willing, and able to buy it today.  And you never know which buyer will pay the highest price.

Don’t Sweat the Stall

It’s the hard work we put in year-round that enables us to sell homes every month of the year.  So we don’t worry too much about the “Stall”.  We advise our clients on what the market is doing, and if we’re doing our job at the highest level, perhaps we can shorten our client’s time-frame and power through it for them.

If you’ve got a home to sell, we should probably talk.  It’s possible we have a buyer for it, and either way our marketing attracts buyers.  If you’re a buyer, we’ve got some great new listings coming to the market in the next few weeks.  You can search at www.LeeCountyOnline.com or call us at 239-489-4042

We look forward to working with you!  Good luck, and Happy House Hunting!

Join us for Two Great Open Houses

Reflection Lakes Open House
Reflection Lakes 3 Bedroom 2 Bath $215,000

13971 Lake Mahogany Blvd Unit 2623

Open Sunday 1-4 PM

Gate 4 Reflection Lakes

 

 

 

 

14154 Danpark Loop Fort Myers, FL
Open House Daniel’s Park

14154 Danpark Loop

Open Sunday 1-4 PM

Daniel’s Park

Affordable Living in Great Neighborhood

 

Watch the Future of Real Estate September 2016

SW Florida Real Estate Market Velocity

Posted on by

One of the things we like to study is the SW Florida real estate market velocity. In a snapshot it tells us several key indicators about the state of the local real estate market.

SW Florida Real Estate Market Velocity
SW Florida Real Estate Market Velocity

We used this graphic at a recent filming of our Ellis Team Seller’s Club video shoot. Each month we dive deep and share key factors we’re looking at and how they’re affecting various segments of the market.

For instance, the market doesn’t all move at once. Certain segments may lead and others follow. Because it’s a video we’re able to illustrate more than just a graphic or two and 700 words. We can really explain each force and its effect.

SW Florida Real Estate Market Velocity

One of the numbers we look at not on this graphic is Total Dollar Volume. Total dollar volume is down 27.7% in July. Last year Realtors sold $420.4 Million dollars worth of residential real estate. In 2016 was $304.1 Million in July. Two factors contribute to this decline.

First, closed sales were down 17.3% Secondly, average sales price was down 12.6%. That’s a double whammy to the market. While these two numbers aren’t on the velocity graph, it does confirm a few trends on the graph.

Listings are up and new pending sales are down. Now you might ask, if new listings are down 2.5% how is it that overall active listings are up 15.5%? This can be for a number of reasons. Older pending sales could have fallen out and come back on the market. These would not be new listings. And even though new listings entering the market declined, new pending sales are roughly equal to the new active listings. So if any pending contracts fall out, and some always do, it adds to the listing inventory.

Lastly, inventory has been rising. It’s actually down from where it’s been in the last few months, but definitely up over last year.

When you hear the market is up, down, or sideways, it doesn’t tell the whole story. The headline tells one story, but the market may have several stories to tell. Right now there are 3 distinct markets with a possible 4th developing. We have the buyer’s market, the neutral market, and the seller’s market.

In our Seller’s Club video we dive into which segments are in the buyer’s market, which ones are neutral, and which ones are seller’s markets. Knowing where your home stands is important to know. And if you’re a buyer, this is also important information as it dictates how much you can gamble in your negotiations. We’ll be starting up a Buyer’s Club soon so buyers too can see in-depth information.

Whether you’re buying or selling, it pays to understand where the market is today, and where it’s headed. Interest rates and economic events can also influence the markets and we bring you our analysis on those as well.
If you’re a buyer and would like to search the MLS or view neighborhood reports, simply go to www.LeeCountyOnline.com

If you’re a seller, you can find out what your home is worth online, or view the same neighborhood reports. Neighborhood reports show you all the homes for sale, pending, and sold in particular neighborhoods. It also shows you time on the market for each listing, dollar per sq ft calculations, sold dates, and photo galleries of each listing.

Of course there’s no substitute for working with experienced agents who know the market. Our website is for those that wish to do their own research before speaking with a Realtor.

If you’d like to be added to our Buyer’s Club or our Seller’s club, send me an e-mail at Brett@topagent.com and let me know which one. We’ll get you on the list and on your way to receiving these great in-depth monthly video reports.

If you have a home to sell, please call us at 239-489-4042. Ask for Sande or Brett and we’ll be glad go over our marketing and show you why our homes sell faster and for more money!

Good luck and Happy Labor Day Weekend!