The Ellis Team is introducing nationwide local neighborhood updates.  It is free and it offers some features you will not find anywhere else.  We will talk about some of the features and how it works here.

Nationwide Local Neighborhood Updates Neighborhood Trends

One of the features is a neighborhood trends report.  People like to see what is going on in their neighborhood.  We have included a snapshot of basic summary statistics for Reflection Lakes in Fort Myers.  Users can click to explore the neighborhood and more features open.

Some of the added features include local transit times to places of interest the user chooses.  Let’s say a couple is searching for a home.  The husband works one place, and the wife works in another.  They can add both locations so they can see how far each commute is from that neighborhood.

Other features included a list of nearby schools as well as an interactive map that shows places of interest.  Users could select highlights, nightlife, shopping, fitness, arts and entertainment, groceries, etc.  When you select your interests, the interactive map displays those things you have selected and placed them on the map.

Let’s say you selected groceries.  The map will show all the grocery stores relative to the neighborhood you have selected.  The same is true with any category.

I particularly like the nearby neighborhoods information and the available homes for sale.  Others will like the local reviews of each place.  The neighborhood report does an excellent job of compiling compelling data and displaying it in a useful way for consumers.

The best part is this website http://ellisteam.kw.com works anywhere in the country.  Users can select multiple neighborhoods.  For instance, a user may own a home in SW Florida and one up North.  It is easy to add both neighborhoods, and once selected each neighborhood has their own tab and data, all in one place.

We can email this information out every two weeks, or monthly.  This is particularly helpful, so you do not have to remember the website.  Just click on the link and it will take you to the report when it is updated.

The Ellis Team is working extremely hard to bring consumers tools that are useful, and work anywhere.  We have strong partners in other states that can assist with your real estate needs wherever they are.  Providing useful information that works anywhere benefits customers from out of our area.  This benefits local sellers because we can now provide nationwide local neighborhood updates.  Out of state buyers are more likely to use us, and when they do their interest in SW Florida rises.

We have some customers that are selling here in SW Florida and moving back to family or a job relocation with the help from a local moving company, to hire them, view additional info at the link.  These tools provide tremendous data in separate locations.  Providing this data makes the Ellis Team a one-stop shop no matter where a buyer is buying or selling.  We will not be their agents out of state.  That takes a separate license.  What we can be is their guide to selecting the best agent no matter where their interest is, as well as great neighborhood data.

The Ellis Team still has our local websites, like our home valuation tool www.SWFLhomevalues.com and our local property search www.LeeCountyOnline.com Nothing is going away.  We are bringing more tools and more value to consumers.  When we meet in person or via Zoom we can show you powerful data.  This data will help you make better decisions, and it’s fun too!

We look forward to helping you with your real estate needs.  If you have a home to sell, please call Brett or Sande Ellis 239-489-4042 Ext 4.  We are easy to talk to and we can help you with your needs, both in SW Florida and anywhere in the country.

Happy Thanksgiving!

See last weeks article “Biden Tax Plan Benefits Florida Real Estate Market

I have been reading several articles on how a Biden tax plan benefits Florida real estate market.  Biden’s tax plan has many parts to it, some of which benefit Florida homeowners and some of which hurt.  As I am writing this article neither candidate has been declared the winner, and we will not go into that for purposes of this article.  We are simply passing along information should Biden eventually be declared the winner.Biden Tax Plan Benefits Florida Real Estate Market

One article suggests the Biden tax plan benefits Florida real estate market by creating an incentive for residents to leave high tax states more than they already have.  Biden’s tax plan could create a marginal tax rate exceeding 60% in New Jersey, California, Hawaii, and New York.  As these states suffer shortfalls, they will be under more pressure to raise rates even higher.  It is a vicious cycle.  Many high tax states are hemorrhaging residents. As they lose residents, they must either cut spending or raise more taxes on the fewer that are left.

Vulnerable States Losing Residents

Another article mentions Illinois and California as particularly vulnerable.  Biden’s tax plan calls for an increase in capital gains rates as well as several new taxes.  One such tax is raising the amount many earners pay on social security.  Another tax is capping deductions for some earners, as well as raising the top income tax rate from 37% to 39.6%

When you factor all these new taxes in, the theory is people will flee high tax states and move to lower tax states where their income is taxed less by the state.  It is not much theory as we have already seen it the past 4 years.  The writers of these articles speculate it will intensify and speed up.

At this time, we still do not know who will control the Senate and how those votes will go.  All we know is that if Biden wins the election, there will be upward pressure.  Some of these taxes will hurt real estate, and yet the Florida real estate market could still be a net winner in that we may gain more people interested in Florida than we lose in tax penalties.  The same cannot be said for other states, but we focus on the SW Florida real estate market.

Target Marketing High Tax States

In 2020 the Ellis Team has sold many properties to buyers from high tax states.  In fact, we have several looking right now and making offers.  Our marketing has focused on those areas and we expect that to continue.  When our team lists a home, we advertise it where we think the buyers are.

We have many local buyers and even more out of state buyers.  If you get lucky out of state buyers come to you based on brand, reputation, or referral.  If you are an aggressive agent you go find the buyers through advertising, and that is what we have done.  We do get a lot of referrals from out of state agents. Many agents calls us because of the Keller Williams name.  We appreciate all of that and that is why we are at the company we are with.

What is particularly fun is selecting certain markets you believe contain buyers who might move to SW Florida and combine that with our artificial intelligence that shows us where buyers are coming from and take out ads directed at those buyers.  When the leads start to flow in off those ads it feels a lot like finding a good fishing hole nobody else knows about.  Never ask a fisherman where their best fishing hole is and expect a straight answer.  Conversely, never ask a top agent who is using this advanced technology to locate buyers to tell you exactly where they are coming from.

Never Ask a Fisherman

A fisherman might tell you which lake the fish are in, but never the exact spot.  A top agent might tell you which states buyers are coming from, but not the exact formula to advertise to them.

If you have a home to sell, always call Brett or Sande at the Ellis Team 239-489-4042 Ext 4.  We have buyers and can help you get Top Dollar.  We do not know who the next president is yet, but we do know how to sell your home either way.  Or visit www.SWFLhomevalues.com for an instant and Free valuation.

We are writing this article the morning after the election.  At this time, it is unclear who the next president of the United States will be or when we will know.  What we do know are the real estate statistics pre-election.  Today we decided to focus on pre-election dollar volume for the SW Florida real estate market.

Pre-Election Dollar Volume SW Florida Real Estate Market

Pre-election dollar volume measures the total dollar volume of sales in a defined time period.  We calculate this by adding up all the sales volume in each month.  September 2020 SW Florida saw $564.8 million dollars in total dollar volume.  That is a whopping 63.4% increase over 2019 numbers which were $345.6 million.

Pre-Election Dollar Volume up in Summer

Pre-election dollar volume started taking off back in June.  Keep in mind we have been in the middle of a pandemic and we are still eclipsing 2019 numbers.  2019 is the benchmark, and we know that was a good year in real estate in SW Florida.  June was only up 1.5%, but it started a trend we will look back on as a defining moment.  July posted a 20.1% increase in pre-election dollar volume in real estate sales.  Along came August which blew June and July away.  People thought the market could not get any stronger, and September would prove them wrong.

New pending sales in September are 58.2% higher than 2019.  We know you must have a pending listing before you can have a closed sale.  New pending sales are a leading indicator of what may happen 1-2 months down the line.  Because many home loans are taking a minimum of 45 days to close, many of the September new pending sales will close in December. August new pending sales were up 42.4%, so we believe October official numbers when released will show increases as well.

We may not see a rise of 63.4% like we saw in September, but October numbers should rise compared to 2019.  We have seen excellent demand.  One thing that could limit sales would be limited supply.  The other factors that will influence the market going forward is how people feel about the eventual winner, and the makeup of congress.

Will economic policies spur growth?  How will northern states react to the winner, and will they continue moving to Florida?  Will that pace speed up or slow down?  How many people will decide to list their home post-election?  All these factors will play a role in the total dollar volume moving forward into 2021.

Waiting on a Winner

Once a presidential winner is determined, it may take people awhile to digest how they feel about it and how future economic, social, and tax policies will affect homeowners.  This may vary by state and county.  We have seen a migration away from high tax states to low tax states. We do not know if other factors will come into play post-election.

It would be impossible for anyone to predict how the SW Florida real estate market will fare going forward.  Heck, as of today writing this article we cannot even tell you who the president will be or who will control congress.  We can report that pre-election dollar volume was excellent in SW Florida and on the rise.  It should remain great for another few months.  Other indicators have been excellent as well.  Right now, SW Florida has an exceptionally good real estate market.

If you would like to talk about selling your home, please call Sande or Brett Ellis 239-489-4042 Ext 4.  We can discuss your options, how the overall market is doing today as well as your neighborhood and put a game plan together for you should you decide to sell.  Or, you can always get an instant value of your home at www.SWFLhomevalues.com It’s instant and easy.  We can validate the online price in person if you are considering selling.  Your choice.

Always call Sande or Brett Ellis at the Ellis Team Keller Williams Realty! We’re never too busy to talk to you.  Good luck and Happy Selling!

Ellis Team Weekend Open Houses

Saturday Nov 7th 12-2 PM

11685 Kati Falls Ln

 

Sunday 1-4 PM

13825 Bald Cypress Cir

13876 Lily Pad Cir

 

 

This is our final article before the election so we thought it might be good to report out pre-election real estate market statistics for SW Florida.

Pre-election real estate market statistics show two interesting factors at play.  Our market is experiencing extremely high closed sales.  If you look at the chart, 2020 was surpassing the previous four years until Covid-19 hit.  We took a brief pause in April and May as lockdowns were in effect in Florida and nationwide.  Nobody knew for sure what the future held.  Savvy Realtors sprang into action and began selling homes virtually.  Our team has sold over 100 homes this year in the middle of a pandemic.

Pre-Election Real Estate Market Statistics

In 2019, housing inventory levels were already low. There was a spike in inventory during the 2019 season, but we quickly sold off all that inventory and then some.  Heading into January 2020 we saw the lowest inventory levels of all previous four years.  Then Covid-19 hit.  Inventory has been going down steadily.

Pre-Election Real Estate market Inventory Levels 2020

New listings were up 26.1% in September, but it did not make a dent as we sold every bit of it and more.  Lee County had 1,550 homes go on the market in September and 1,832 went pending.  When we repeat this cycle month after month you do not have to be a mathematician to realize inventory levels are falling.  More pending sales than homes coming on the market leads to lower inventory.

Lower inventory and high demand lead to rising prices.  The median sale price increased 16.9% in September over last year.  The average sale price rose 19.8%.  This is an extreme seller’s market right now, pre-election.

The question everyone is wondering about is how long will this last?  The stock market is jittery largely due to uncertainty with who will win the election, who will control the house and senate, and what Covid is going to do.  Will we have further lockdowns?  Will the government vote for stimulus to help mitigate loss of income due to shutdowns?

Right now, stimulus is not being provided for political reasons.  That all ends after next week, and it does not matter who wins.  People speculate this could be a contested election and that may delay stimulus.  My belief is that will all be decided in the courts if it is contested at all.  Either way, there is no disincentive for congress to provide stimulus after the election as votes are not riding on it.

Nobody knows what Covid will do, when a vaccine will arrive, and which states may further shutdown.  What we do know is Florida looks attractive to lots of people right now.  We are advertising to northern states with great success.  Buyers are flocking to Florida for its low taxes and ability to stay open in middle of Covid. Pre-election real estate market indicators are good.

There are people on both sides of that argument.  We are not here to argue the merits of either.  Our team is here to sell real estate.  Our sellers expect it, and buyers want our help.  As always, we market to where the buyers are.  Buyers are here locally, and out of state, and we market to both.

Some sellers are nervous and wonder if now the time might be to sell.  Others want to wait for even higher prices in the future. None of us know what the future holds.  The best decision probably depends on your family’s circumstances.

We have a team of buyer specialists ready to help you find homes and negotiate a win for you.  The Ellis Team also has listing specialists ready to get you Top Dollar for your home now. The old saying says strike while the iron is hot.  The iron is hot right now, and if you’re thinking of selling, you should talk to Sande or Brett Ellis 239-489-4042 Ext 4  Or visit www.SWFLHomevalues.com to get an instant price on your home.  We can validate that price in person later if you are interested in selling.

Just remember, Always Call the Ellis Team at Keller Williams Realty for all your real estate questions!

See last week’s article “Ellis Team Marketing Sells Listings For Top Dollar and Fast