Category Archives: Cape Coral Real Estate

News and information relating to Cape Coral real estate market

New Improved Property Search Site For Consumers in SW Florida

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Here we go again shaking things up in the real estate industry.  You might recall back in the 90’s we were the first agents to put the MLS on our website. Everyone asked if it could be done. The National Association of Realtors flew us out to Chicago to talk about it and this is how agent search sites were born, followed by Realtor.com We always believed consumers should have access to information even before anybody else did.

Since then, technology has come a long way.  We’ve used a few technology providers over the years and thousands have signed up and used our service.  Many of you have bought or sold homes from us using this technology and we thank you.

Property Search Site For Consumers in SW Florida

We wanted a better system though.  Good isn’t good enough anymore, we wanted great!  We wanted several things in a new system:

  • Advanced Search Capability with more options
  • Map search
  • Photo gallery display so can see all the pictures at once. We hate clicking to see each picture
  • All the listings
  • Quick Basic Search
  • Updated Daily
  • Daily E-Mail updates of new properties coming on market that matches my criteria
  • Price change alerts
  • Save favorite properties
  • Mortgage Calculator to see how much home would cost per month
  • Find Out What Your Home is Worth Online
  • Community Pages with search results
  • City pages with search results
  • One system buyers and sellers could use-No more need for separate systems and agents from all over calling
  • More consumer friendly-Ease of use

New Improved Property Search Site For Consumers in SW Florida

We designed it and it’s been live for about 2 weeks.  Already consumers love it.  They are favoriting properties and receiving alerts when prices change.  Many have thanked us.

When you have thousands of people using a system it’s a tough decision to make a change.  Perhaps that’s why we held off, but then again, we’re not satisfied with just providing good. You deserve Great, so here it is.  Simple go to www.LeeCountyOnline.com and see how you like it.

If you’re a buyer, you’re definitely going to love it. It’s so easy and the results are fast.  Sellers will like the home value tool.  As always, we’re here to talk to as well. 239-489-4042 We like to make your search fun and easy.  If you prefer searching on your computer or Smartphone, you can do that.  If you prefer calling and speaking to us, you can do that.  We’re here for you on your terms.

Good luck and Happy Searching!

More Homeowners Celebrate Their Independence From Their Home

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It’s Independence Day here in SW Florida and across the great United States so it’s time to celebrate. What a great country we live in. Local sellers are rejoicing as well as new reports show more homeowners celebrate their independence from their underwater mortgage.

For years homeowners were trapped in their home because they owed too much money to sell it. Inventory is limited across the country because of it. In fact, it’s causing an affordability crisis in many lower end neighborhoods because they are 3 times more likely to be underwater as homes in the top third. Buyers are having a hard time finding an affordable home in these areas.

More Homeowners Celebrate Their Independence From Their Home

Here in SW Florida we have an inventory shortage. The good news is many that were underwater could sell now when they choose to. They are no longer trapped in a home they don’t need or a mortgage that’s tough to afford.

More Homeowners Celebrate Their Independence From Their Home

As you can see from the Home Prices graph media sale prices have increased 145.48% since January 2011. That’s just what the doctor ordered for many sellers. Our prices were over-valued but they fell too far and too fast. Our market has healed and the economy is doing better in Florida than the rest of the country.

We wrote last year that one of the final steps to a healing housing market would be an increase in financed sales. We’ve written on this many times. If you really care to research search the term cash sales on our Blog.

Cash Sales in SW Florida

Cash sales are at their lowest point since the downturn. This means an infusion of capital and confidence has come back into the market. Cash buyers were never going to propel this market to a normal healthy level. Cash buyers were limited, and many wanted a good deal when the market was down. They didn’t want to overpay.

Today it’s different. With inventory so low sometimes cash is King, but the difference is they have to pay market value even with cash to compete against all the other buyers. Several years ago we had multiple offers, but only because they were basement prices. Today we have multiple offers from end users who want the property to enjoy, not just flip.

Banks have become more confident in home values, appraisals, and lending again. Banks were gun-shy too, but now real estate is seen as a solid investment. Depending on how things turn out with Greece, Puerto Rico, and the Euro, hard assets may become king again and there may be a flight from stocks to real estate again.

If you’d like to search for your piece of paradise here in SW Florida check out www.LeeCountyOnline.com It has all the listings and it’s fun and easy to search. You can even find out how much your home is worth there too.

Making a move is a complicated process. Talking to a Realtor who understands the process and what it takes to sell a home so you can buy another one is Gold. We are experienced and we can help you. It’s just communication and working through your needs and finding solutions.

If you’d like to speak with us, call us at 239-489-4042 or send us an email Brett@topagent.com You can always use our website too and we can get back in touch with you.

Enjoy your weekend and celebrate your Independence, both as a country and possibly as a homeowner.

We have a new way to search the MLS we think you’re going to like.  To search the entire MLS go to LeecountyOnline.com

We have some additional pages you might like.

We’ve added popular neighborhoods, gated communities, luxury waterfront high rise condominiums and more.  Here are a few neighborhoods you can check out:

We have many more so head on over and check them out.

Months Supply of Inventory Dips Drastically

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Sellers, listen up!  You’ve probably heard Realtors state over the years “This is the Best Time to Buy” or “This is the Best Time to Sell”.  There may have been truth to that, but never more so than right now.

Months Supply of Inventory Dips Drastically

Inventory levels have dropped to their lowest level since we began tracking inventory with a new system in 2012.  We’re down to 4,712 single family homes on the market in Lee County and this brings us to a new low in Months Supply of Inventory, down to just 4.3 months.  That is a 22.9% drop in months supply from last year and a 14.9% drop in number of listings compared to last year.

Months Supply of Inventory Dips Drastically

If I were to tell you new pending sales were up 5.6% and May closings were up 1.2% you might wonder how that could be if inventory levels were falling drastically.

It’s all true.  Sales are out-pacing new listings.  Closings are up and it’s driving the supply of available inventory down.  Median sale prices are up 11.4% in May while average sale prices fell by .8%.  This tells us that the bottom of the market is coming up which is pushing the median price up.  The big sales didn’t occur last month so it didn’t pull the average up at the same rate.

Months Supply of Inventory Dips Drastically Single family homes sold

Some sellers are getting nervous and wondering if now is the best time to sell while others see a nice upswing and want the market to go up even more so they’re waiting to sell.

From a statistical standpoint, the best time to sell is when you have more buyers than sellers, and this market definitely qualifies for that.  We can’t tell you how much further the market will go up, how fast, or for how long.  What we can tell you is demand is larger than supply and it’s always more fun to sell in those kinds of markets.

If you’ve ever tried to sell a home when supply was much greater than demand you know that’s not near as much fun.  We’d caution sellers not to overprice, even in a low supply market or you may miss it.  Buyers will turn off at a certain point.  Back in 2005 buyers turned off.  Of course they were a different kind of buyer back then.  We had speculators back then.  What is different today is we have real buyers, real end users.  That’s why we’re not concerned about a downturn like we were in 2005.

Just the same, buyers can only purchase what they can afford, so there is a limit to what they can pay.  Unless we import a bunch of millionaires, incomes will drive the market and pricing as much as supply and demand will.  We’re getting to that point.  We could see further price gains with this kind of demand/supply imbalance but there will be limits one day, and this is one of those moments in history where sellers may want to begin asking the question, “Is now the time to sell?”

When we hit that point prices may stagnate and supply and demand may level out.  That doesn’t mean prices have to fall.  It just means it won’t be as fun to be a seller as it is today.  Today is big fun for a seller.  Tomorrow may be good, just not big fun.

If you’ve ever been to a sporting even and thought that game was good, but not as good as the best game I ever saw, it might be a little bit like that.

If you’d like to check out available inventory, you can do so on our website at Leecountyonline.com  You can also find out what your home is worth too.

If you’re thinking about selling, now might be a good time to call us and we can discuss your options.  239-489-4042  We’re here today, tomorrow, or next year, but it might be more fun to talk today!

SW Florida Real Estate Market Update

 

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Feel free to view our Virtual Tours

SW Florida Real Estate News Week of June 26, 2015

Other Resources

Fun Things to do in SW Florida

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Fort Myers and Cape Coral Listing Inventory Down 9.2%

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Fort Myers and Cape Coral listing inventory down 9.2% in the latest data released by Florida Realtors.  To be fair, this data includes more than just Fort Myers and Cape Coral.  It includes single family homes in all of Lee County, but since Fort Myers and Cape Coral are the two largest cities, that’s how the headline reads.

Fort Myers and Cape Coral Listing Inventory DownFort Myers and Cape Coral Listing Inventory Down Total Inventory Down

If new listings are up 6.1% over last year, you might be asking how listing inventory is down 9.2%.  New listings have been up for several months in a row now.  The answer is while new listings are up, new pending sales are up 10.2% in April and 17.7% in March.

Fort Myers and Cape Coral Listing Inventory Down

New listings are hitting the market, but demand is soaking them up before they can linger on the market.  This tells us that demand is out-pacing supply.  Agents complain that there just isn’t enough inventory and they’re correct.  We have inventory, it’s just that it’s not enough for the demand.

As you can tell we’re into graphs as they tell a story visually that sometimes gets lost in the raw numbers.  Of course, we only have so much room in the article or we’d fill it with all graphs and no explanation.

Buyers have been into our office desperate to find homes in their price range.  One way buyers can find out about new listings that hit the market is to search online.  Our website has a feature whereby if you login and save your search the system will email you listings that match your criteria.  You can save the listings that interest you, but the best part is when a new listing hits the market that matches your criteria the system will notify you.

Buyers love being notified when new properties hit the market.  They get a leg up on the competition.  Unlike some of the national websites, our information includes all the listings that brokers share with each other and its updated daily.  Some of these national websites have old data or not all brokers participate.  Remember, it’s the individual brokers who decide where the listing data is displayed, not these national companies.

This is probably why buyers get upset when they find properties online only to find out it’s been off the market for awhile.  That is frustrating.  These national websites come in and spend a ton of money online promoting their websites so it’s hard for buyers to know which sites are the best ones to search on.  They typically search whoever is listed at the top of Google or Bing not knowing that website may not have accurate or timely data.

I’ve been seeing new national websites popping up weekly now.  All they are trying to do is scrape data from the MLS or wherever they can get it, attract buyers through online advertising, and then sell ads to brokers.  Why not go straight to the source and get the best data directly from a broker?

Sellers like our website too because they can find the value of their home through our home valuation tool.  Sellers too can be on the lookout for new listings because many times they want to find a property to buy before they decide to sell.  Having a local broker who knows the market is gold versus a website that sends your lead out to multiple agents who may or may not be active in your market.

With tight inventory buyers need every advantage they can get.  They’re not competing with the sellers as much as they are against other buyers who want the same property.  Give yourself the extra advantage and call the Ellis Team at RE/MAX Realty Group 239-489-4042 or visit our website at www.Topagent.com
SW Florida Real Estate Market Update

8 Things Buyers and Sellers Need to Know Before August

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We first wrote about this topic back in March and yet we still find many agents and buyers and sellers have no idea what’s about to happen starting August 1. Large companies like RE/MAX are lobbying Congress to delay implementation because so few are prepared and the impact will be great.

8 Things Buyers and Sellers Need to Know Before August

I’m attending a major seminar next week about the upcoming changes and their effects on real estate closings. Let us tell you what we know right now.

8 Things Buyers and Sellers Need to Know Before August

1. Currently borrowers receive two separate forms at loan application; the Good Faith Estimate and the initial disclosure. This is being replaced by a Combined Loan Estimate.

2. At the end of the transaction the HUD-1 settlement statement and the final TILA (Truth in Lending Disclosure) are being combined into a new 5 page single Closing Disclosure Form.

3. Closing times will be impacted by the new requirements. The CFPB (Consumer Financial Protection Bureau) mandates borrowers have at least 3 days to review the new Closing Disclosure. Review starts upon receipt of the form by the borrower. This means 6 business days unless you can confirm receipt by hand delivery.

4. Walk-Thrus will need to be moved up. Often times at walk-thru the buyer notices a repair item or something missing that was in the contract. The seller needs to keep a property in same repair up until closing. If the walk-thru is done the day of closing there isn’t time to change the closing statement. A title company cannot give a credit to the buyer on the closing statement without re-starting the time issue. It’s unclear if an item can be escrowed, but I have heard a repair can be escrowed as long as no money goes to the buyer.

5. If a closing is delayed for any reason, it changes to disclosure and prorations, which means the process starts all over and everyone must wait to close.

6. Line numbers have been removed on closing statement. There are now 7 fee areas on the disclosure, like origination charges, services buyer did not shop for, services buyer did shop for, taxes and other government fees, pre-paids, initial escrow payment, and other.

7. Buyers will receive more than one closing disclosure. There is one 7 days before closing and another noting any changes that occurred between initial disclosure and closing. One title company states this disclosure can be done post-closing but an attorney I spoke with familiar with that matter said differently, so we need more clarification on this matter.

8. Lenders have notoriously sent over closing packages the same day as closing. This practice will end, and that’s the good part. It will force many lenders to get their stuff together well in advance.

The hiccups will occur with lenders and title companies that aren’t prepared and on a strict systematized schedule. We also see problems when a lender does not have final clear to close from underwriting in time to make all these disclosures.

Additionally, if there are any changes like repairs, those must be negotiated well in advance. We see many deals falling through. Closings will take longer, and frustrations will mount for buyers and sellers. The government will not care that the buyer has a moving truck sitting in the driveway all ready to go for a week. The government will not care that the buyer wants to close; everyone will be forced to wait.

The government will not care that the seller needs to close by a certain date to close on their next house. Any changes will delay several closings, and nobody will care. The buyer can be perfectly fine with new changes, I.E receiving a credit, but everyone must wait to re-disclose and close.

Agent, lenders, and title companies will be pulling their hair out. Fortunately for me, I’m bald. A lot of education and communication will be needed as we inch closer to August. We can all gripe about it, but its here and we have to deal with it. If your closing is delayed, you can thank the government for more regulation. They won’t care, so just sit back and be patient. It is what it is folks!

Good luck and Happy Home Selling/Buying!

SW Florida Real Estate Market Update

Update to Story

CFPB Just Announced Relaxed Enforcement August 1

 

Visit our Google+ Business Page

Feel free to view our Virtual Tours

New Riverfront Rental at Oasis

Check out our Buyer Advantage Program

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Resources

Fun Things to do in SW Florida

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

May 2015 SW Florida Market Real Estate Update

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Official numbers for April were just released and median sales prices were up 14% over 2014 numbers.  As you can see from the sales prices graph, median home prices have more than doubled since 2011.  In fact, they’ve gone up 157.63% since January of 2011 which is a nice gain by any standards.

May 2015 SW Florida Market Real Estate Update Fort Myers Real Estate Prices

People often call our office asking for homes they can flip.  They are surprised to learn how low inventory is right now.  They immediately ask about short sales and foreclosures and we tell them there aren’t many anymore.

The economy has improved and so has people’s job outlook.  Secondly, home prices have improved such that if they were underwater before, they may be able to sell now without being a short sale.

Most of the people who were in trouble have sold via short sale or lost their homes via foreclosure awhile back.  The public simply needs to know that SW Florida has recovered and it isn’t that kind of market anymore.  Most locals know that but visitors who aren’t familiar with our daily headlines are not.  Sometimes they read old stories on the Internet or watch old videos on YouTube.

May 2015 SW Florida Market Real Estate Update

 

May 2015 SW Florida Market Real Estate Update

Here is a graph that shows perfectly traditional sales versus short sales versus foreclosures in Lee County Florida. Back in January of 2011 normal sales were only about 35% of all sales.  Short sales were actually more than traditional sales and foreclosures were about 20%.  Fast forward in time and you can see the trend. Normal sales started picking up steam in November of 2011.

Speaking of old stories and old videos, we have them up on our website.  Simply go to our Lee County Florida real estate website  and click on the video tab or our video playlist on the right side of the screen.  It’s fun to go back in time and see what we were talking about years ago and how far this market has come.

Real estate is all about education.  The market is rarely static and is always changing.  The listings change daily and market trends develop over time.  The public has a keen interest in their property value if they are an owner and where values are headed if they’re considering buying.  Just like the stock market, most people don’t have time to study each property or each stock, so they rely on headlines and news articles for general information until it’s time to get serious.

Our website has a tool to find out what your home is worth online.  Owners really love this free tool because it gives you a value today and updates you each month as the market changes.

Buyers love the website because they can search for homes and condos online without a bunch of agents calling them like on the national websites.  Sellers can also search for homes as they may want to see what’s available before they decide to sell.

2 weeks ago we told you about our Buyer Advantage Program.  We informed buyers of listings we were working on as listings go fast in today’s market.  We listed one of the properties and it sold in 1 day on the market.  We have more coming to market in the next few weeks.  If you’d like to get advanced notice, be sure to signup at Topagent.com in the Buying section.

We’re looking forward to a fabulous summer season.  You can always call us at 239-489-4042 if you’d like to speak with us.  We hope you enjoy the Free online tools we provide but remember there’s no substitute to talking with an experienced Ellis Team professional.

Good luck and Happy House Hunting!

SW Florida Real Estate Market Update

Visit our Google+ Business Page

Feel free to view our Virtual Tours

New Riverfront Rental at Oasis

Check out our Buyer Advantage Program

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Resources

Fun Things to do in SW Florida

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Memorial Day in SW Florida 2015

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Most of us will be out celebrating a 3 day weekend having fun enjoying our families and/or a little time off, as we should.  Life is tough and we deserve it.  Let’s not also forget why we have this holiday.  Memorial Day originally started as Declaration Day.  Several states lay claim to the first Memorial Day, and there was even dissent as the south refused to celebrate Memorial Day after the civil war.

Memorial Day in SW Florida 2015

While history can be fascinating, what’s even more important is the present.  Memorial Day represents honoring those that have served our country.  It’s always sad when some people refuse to honor certain veterans because they disagreed with a conflict or war.  We owe our freedom to veterans.  Our veterans didn’t get a chance to select which conflict or which war they would serve in.  They just served, for us, for the United States of America, just because.  They didn’t ask questions.  Nobody would listen if they did.

First responders at the Boston Marathon or the World Trade Center didn’t get the chance to pick which disaster they’d respond to, they just did what was needed regardless of how scarred they’d be for dealing with the scene.  The same is true with our veterans.

While you’re out there having fun this weekend, take a moment to visit a grave, or say thanks to an existing veteran, or just remember in your own special way.  It’s the least we can do. We honor our fallen, but let’s also celebrate life.

Memorial Day in SW Florida 2015

Personally I’m thankful our SW Florida real estate market is doing well.  Really I’m thankful for so much more. This past week RE/MAX laid to rest one of the best brokers SW Florida has ever seen.  George Sayers was loved by all and made a difference in so many lives from New Jersey to Florida.  Life is precious.  Celebrate precious moments this weekend with friends and family.  You never know in the blink of an eye when things can change.

We do not know how much time we have here on earth.  All we control really is how we treat others, how we enjoy the time we have, and how we honor those that served for our benefit.

So please, take a moment to thank a veteran, or a surviving spouse.  Display your flag.  Hug your kids.  Say I love you to a loved one.  Pick up the phone and call someone dear to you that you haven’t spoken to in awhile.  Say all the things you’d want to say if today was your last day on earth.  If that blink comes, you won’t get that chance tomorrow.

Remember that our veterans didn’t always get that chance.  Most were separated from their families in a foreign place.  Most spoke by written mail and an occasional phone call, and they sacrificed for us.

For us at home enjoying our freedom and our weekend, we have it all.  It’d be such a shame not to pay some respect.  Such a shame not to say things you’ve wanted to say.

Remember it’s up to us to take care of each other.  After thanking a veteran, the biggest honor we can bestow is to make SW Florida a better place.  Enjoy your weekend, spend time with family, and honor America, a country of freedom worth fighting for!

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SW Florida Real Estate Market Update

Visit our Google+ Business Page

Feel free to view our Virtual Tours

New Riverfront Rental at Oasis

Check out our Buyer Advantage Program

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Resources

Fun Things to do in SW Florida

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Ellis Team Buyer Advantage Program

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The Ellis team is proud to re-introduce our Ellis Team Buyer’s Advantage Program. This is a program we used many years ago when we were the first agents to put the MLS on our website.  We’re bringing it back and adding some valuable features we think you’ll find useful.

  1. How would you like to be notified about upcoming listings Before they come on the market?  The Ellis Team lists and sells a lot of property because our marketing works.  Sande and Brett go on a lot of listing appointments each week.  We don’t take them all.  Some sellers aren’t ready yet, or they simply aren’t willing to price their home at today’s market value.  We only bring listings that will sell to the market.  We’ve created a private website for buyers in our Buyer Advantage Program™ that will post the listing appointments we’re going on.  Literally you’ll find out about upcoming listings even before we list them.  If one meets your criteria, you can contact us and we’ll arrange for one of our buyer specialists to show it to you.
  1. Our website is up to date so you’ll be able to search for Hot new listings in real-time. Many national websites have outdated or incorrect data which can be frustrating for a buyer.  It’s terrible to find a home online only to find out it closed 2 months ago. Our website is tied into the MLS. As agents we have that privilege that national sites don’t always receive. We’re in a tight inventory market so every advantage helps.
  1. Open House Pass- Have you ever visited open houses and been hounded by agents asking you to register?  Of course that agent wants to follow-up with you about the open house. They’re just doing their job.  If you don’t buy the open house they want to show you others.  If you find an agent that’s friendly to work with this is all fine and good.  The problem comes in when you visit several open houses in a day or month.  Now you have several agents contacting yEllis Team Buyer Advantage Program Open House Passou and hounding you to shop with them.  This can get quite frustrating.  We’ve solved that problem.  We provide you with an Open House Pass that puts other agents on notice that you’re working with the Ellis Team at RE/MAX.  Now you only have to forge one relationship with a great Realtor and you won’t have pesky agents hounding you for contact information.  Your life will be simpler and your agent can listen to your needs and hone in on the property you’re looking for.  In a low-inventory market it pays to not waste time starting that process all over again and again.
  1. Free Reports- We’ve complied a series of buyer reports we’re getting ready to release. Members in the Buyer Advantage Program will have access to all of these reports and valuable information. Our reports cover things like how to make an offer when there are multiple offers on the property, how to best structure your offer, and what to look out for in the inspection process.  Many buyers have mortgage questions as the process has changed in the past few years.  We have Free reports for that.

 

The Ellis Team at RE/MAX takes buying and selling real estate seriously.  It pays to work with a serious Realtor.  Simply go to Ellis Team Buyer Advantage Program and sign up and we’ll add you to our Buyer Advantage Program as an added bonus.  You’ll also gain access to the pre-listed property information, the Free reports, and the Open House pass along with future benefits we’ll be unveiling soon! You can always call us at 239-489-4042

Always call the Ellis Team, we’ll handle you with care!

[idx-platinum-widget id =”4929-37509″]

SW Florida Real Estate Market Update

Visit our Google+ Business Page

Feel free to view our Virtual Tours

Check out Bella Casa Condominiums.  We’ll be happy to show you this project in South Fort Myers

Other Resources

Fun Things to do in SW Florida

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Southwest Florida Real Estate Market is Heating Up

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Southwest Florida Real Estate Market is Heating Up.  Closed sales in March were up 24.7% over last year despite lower inventory levels.  Single family inventory levels were down 9.8% and yet we saw a big jump in closed sales.

Southwest Florida Real Estate Market is Heating Up

We’re tracking pending sales and they’re also up 7.9% which means closed sales in the coming months should also be strong.  So what is different this year in 2015 versus last year?

Southwest Florida pending sales

Money has really come into the market.  If you’ve been reading this column the past several years we’ve been telling people our market is healing, but it won’t be fully healed until money and capital fully return to the market.  For many years cash sales drove this market at the bottom of the market.

Investors and people with money were able to take advantage of a depressed market.  We had a market that was artificially too low and was below replacement cost.  The builders couldn’t build at a loss.

This is all changing now and we’ve entered a new growth stage of the market.  Lenders have begun to lend again and this is what ultimately fuels a market.  When you only have cash buyers you don’t ever have a fully valued market.  The same is true in the stock market, banking, currency exchanges, and economies.

This is one reason countries like Russia and virtually every country in the world seeks capital investment, to spur their economy.  Leverage and capital is the fuel that drives growth.  SW Florida is receiving some fuel right now and that’s a good thing.

In fact, 44.4% of all single family transactions are bought as cash is still on the high side.  There is room for the lenders to really come in here and propel this cycle.  Lending and availability of money is a good thing.

Some are afraid that lending will bring a return of the over-spending days like we had before the bust. The availability of capital we had back in 2005 was not good because anybody could obtain credit regardless of their ability to repay.  The underlying assets were overvalued and the borrower was on shaky ground.  It all crumbled as it was built on a house of cards.

This time is different. We don’t have thousands of homes built with no end user in sight.  In fact, we have a shortage of homes for the end users.  We don’t have speculators flipping to another speculator who may wish to flip to yet another flipper.  We have end users.  We have buyers and we have actual tenants who need a home to live in.

So now that we have users, we have demand, we have little supply, and we have financing options, we have growth and opportunity.  These are healthy signs and I’m happy the way this market has come back and done so in a reasonable and sustainable way.

Financing is the facilitator to growth.  SW Florida appears to have several more good years of opportunity and sustainable growth ahead.

Buyers can find properties but they need to know where to look.  Our website www.Topagent.com is a good first step, but sitting down with a buyer specialist is even more crucial because often times we know about product that isn’t in the MLS.  New construction is available too, and it pays to have someone who knows the product and the process walk you through that.

If you’re a seller, the stars are aligned for you right now.  To get top dollar it pays to work with an agent who understands the market and can guide you through contracts, pricing, and how to get financing for your property.  There are options available but you have to know which one will work for your home and it can be complicated.

If you’re in the market to buy or sell, our website is a good resource.  However, we suggest you give us a call and we can sit down in a relaxed atmosphere and put all the pieces of the puzzle together for you.

We’re easy to talk to and we like to help.  Call us at 239-489-4042

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By Brett Ellis

RE/MAX Realty Group – Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Is Now the Time to Sell in SW Florida?

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Official sales numbers were just released for the SW Florida real estate market and sellers will be pleased. Median home prices are up 18.9% over last year and average sales prices are up 30.8%. March median sales price came in at $219,938. This is the first time median sales prices have crossed over the $200,000 threshold since the decline of the local real estate market.  People always ask us, is now the time to sell in SW Florida and  what do I need to do to get my home ready to sell?

SW Florida sales Prices

We’ll have a free report for potential home sellers at the end of this report that will answer the 2nd question.  In fact, we have 8 free reports and we’ll tell you how to get them.

Sellers may want to consider 2 pieces of information about the market.  Sales prices are at a renewed high.  I feel like saying all-time high because this is a new market.  The old market reset years ago.  However, since prices did hit these highs and then some years ago, I won’t call it all-time.

Is Now the Time to Sell in SW Florida

Secondly, inventory is down and possibly going lower.  You can see by the Active Inventory Chart inventory is down significantly from last year.  Sales in March shot up too so we expect April sales numbers to come in very well.

So the question is, is now the time to sell in SW Florida?  The answer is yes from a statistical standpoint. However, you must weigh other factors, such as where are you going, is your house in shape to sell, do you owe more than your house is worth, and what do you need to know about the home selling process that may have changed since last time.

Interviewing agents can be a chore.  All agents sound the same and sellers mistakenly think if their home is on the Internet that’s all it takes to sell.  There is a big difference in the ways Realtors market online and offline.  If the Realtor doesn’t understand the difference, how in the world is the seller supposed to know?

We have good news for you.  We have a series of reports you can get for free that will answer many of your questions.  We’ll even tell you which questions you should ask your Realtor before you sign any listing agreement.

The Free reports are:

1. The Ultimate Home Seller Checklist

2. What is Your Home Really Worth?

3. What 92% of Sellers Know About Listing a Home

4. The Six Best DIY Tips to Prep Your Home for Sale

5. How to Stage Your Home, Room by Room, to Sell

6. Three Tips for Selling Your Home Fast

7. Five Things No One Tells You About Selling Your Home

8. Six Homeowner Hacks You Can Put to Use when Selling

Rates are still low and buyers are swarming.  You might not want to miss this market as many times there are several buyers for a home like yours.  That sure beats when there are several homes for every buyer.

If you’d like to receive your Free Home Seller Reports, simply go to Find Out What Your Home is Worth Online It asks for your home address.  In order to receive the reports please enter your email address and phone number so we can send them to you.  It will also send you a computerized value of your home and will update you when values change.

Don’t get too hung up on the home’s value.  The real value is in the reports.  The computer does a pretty good job of estimating your value but it has not been inside your home and in a fast rising market sometimes values can go up faster than what computer reports.

If you’re seriously considering selling your home we can zero in on today’s best value for your home, so don’t worry.  Just use the computer as a guide, not the real estate bible.

Of course, feel free to call us at 239-489-4042  We’ll be glad to help you buy or sell.  Good luck and Happy Selling!

Southwest Florida Real Estate Video Market Update

We’ve updated some pages on our website and added a few new ones:

Shadow Wood Preserve

San Carlos Park Homes For Sale in Fort Myers

Danforth Lakes