Category Archives: Fort Myers

Fort Myers Florida news and information.

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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SW Florida Real Estate News Week of June 26, 2015

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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

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

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!

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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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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

The Agent You Choose to Sell Your Home Could Cost You Thousands

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Most people like a good deal, so it’s quite natural to assume that the company that charges the least for a service will maximize your profit.  This couldn’t be further from the truth. The agent you choose to sell your home could cost you thousands.

This is the time of year when locals who have been swamped all season long begin to breathe and reflect on their housing situation.  They ask questions like, has the market value on our home gone up?  Could we afford to move into a bigger home, downsize to a smaller home, or move on the water?

Agent You Choose to Sell Your Home Could Cost You Thousands

The first thing people want to know is what is my home worth?  The second is how much will it cost to sell and how much will I walk away from?  The answers to these questions help answer the next question, where could we go and how much will that cost?

A good Realtor can help.  Sometimes when people call our office the first question they ask is how much do you charge?  If I wasn’t in this business it’d probably be the first question I’d ask too.

Since I am, I want to give an insiders point of view that will help prospective sellers.  Given what I know, this should be the last question asked.

Proper pricing is important.  You want to choose a Realtor who understands the market and can properly guide you so you’re working in reality.  If your whole exercise in exploring a move is based on fantasy, you’ve wasted a lot of time and inconvenience.

Secondly, it doesn’t so much matter what the listing agent charges.  It matters how much you net out at the closing.  I tell people if I charged 20% commission but got my sellers 30% more than any other agent could, would that fee seem high?  The answer is no, it’d be a bargain.  The truth is we don’t charge 20% and we don’t get 30% more than the average agent.

Agent You Choose to Sell Your Home Could Cost You Thousands-SW Florida Home Value

However, we do sell our listings for more than the average agent.  Some agents out there may charge less than other agents.  The beauty is there is no set rate by law, and that’s a good thing.  You’re free to choose who can put the most money in your pocket at closing, and that’s typically an experienced agent who does a lot of marketing and has excellent negotiating skills.  The kind of negotiating skills that comes from thousands of transactions.  Some agents only sell a few homes per year, so ask to see their track record.

Also ask to see their marketing.  Owners assume that all newspaper ads are the same.  Look at the frequency, and the size of your home in the ad.  If you need a magnifying glass, chances are the buyer will to and won’t see it.

Is your property aggressively marketed online too?  Would you know the difference?  Sure, all Realtors will tell you your home will be marketed online, but what if there were some key differences the agent didn’t tell you about?  What if the agent doesn’t really know and just repeats what the company tells them?

It pays to call someone who really does know.  Selling your home for less than you could is like a hidden tax.  You’ll never know what could have been.  And how will you know you’re getting the best deal on your next home?

A great agent can help.  If you’re considering making a move, call us at 239-489-4042 and sit down with us and we’ll guide you through all of it.  Calling the wrong agent could cost you thousands.  It could cost you the sale entirely and cause you to miss your dream home.

The Agent You Choose to Sell Your Home Could Cost You Thousands

You can get a ballpark value on our website www.Topagent.com but keep in mind that’s only a ballpark.  We’d prefer to come out and see your home and go over the details for better accuracy.  Not every agent in our company or in town works the way we do.  Always Call the Ellis Team at RE/MAX   239-489-4042

SW Florida Real Estate Market Update

Visit our Google+ Business Page

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

New Construction For Sale

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

By Brett Ellis

Ellis Team – Keller Williams Realty Fort Myers & the Islands

Fort Myers Real Estate Agent

1520 Royal Palm Square Blvd #160

Fort Myers, FL 33919

239-489-4042

Is SW Florida Ready for Mobilegeddon?

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Circle the date. April 21, 2015 things are going to change in a significant way.  These are the words directly from Google.  We’re talking about Mobilegeddon, and whether you’re a real estate agent, business owner, or consumer, you will be affected on April 21. So we ask the question, is SW Florida ready for mobilegeddon?

Since 2013 I’ve been speaking to agents nationwide about the importance of having a mobile friendly website.  Google has stated how important mobile is and they do not want to rank websites high if the consumer doesn’t have a good experience on their mobile device when they get there.

SW Florida Ready for Mobilegeddon Share of US Digital Media

Last year we told readers that consumers were spending more time on the web from their mobile then they were on their desktop computer. ComScore data proves this out, and many webmasters who view their logs will tell you mobile is more popular now than desktop.

The problem is, many websites are not setup to handle mobile visitors properly. Portent recently crawled 25,000 sites and found that 40% of those sites were not mobile friendly.

If you’re on your mobile device you can do a search in Google and it will return results. It will say if the results are mobile friendly, but you better pay attention to those results.  The companies you see today may not be the same companies you see on April 21.  If they do not have the mobile friendly seal of approval from Google, they are going to drop out of the search results.  This is significant.

Mobilegeddon will be a larger algorithm change than either the Panda or Penguin updates.  If this is all Greek to you, it’s OK.  Consumers don’t need to know all the details, but local businesses do.

Consumers who are hiring a real estate agent should ask questions about the agent’s web presence and whether it’s mobile friendly.  The public tends to think all agents are the same and all advertising is the same.

I can assure you all agents do not have the same negotiating skills, nor do they have the same marketing skills.  Pretty soon we’re going to find out which agents win in the online marketing business.

If you’re a buyer or seller, Mobilegeddon is going to matter to you.  The buyers will be directed to sites that are mobile friendly. According to one site buyers are 53% more likely to purchase from mobile while they are shopping.

SW Florida Ready for Mobilegeddon Top 15 Smartphone Apps

Imagine buyers driving around looking at neighborhoods.  When they see a neighborhood or sign they like, do you think they write it down to pull up later or do they inquire on their Smartphone?  The answer is they are not waiting.

The Ellis Team is receiving many mobile leads per week.  The registration form even says Mobile lead.  We’re receiving phone calls directly from the online information as well.

Buyers today want immediate information.  They go on Smartphones first.  If they call, they don’t want voicemail.  They want to talk to a live person.  They can get general info online in an instant, so your systems better be designed to answer that call when the buyer is ready.  If the agent isn’t ready when the buyer is, they’ll find another agent.  Statistics show buyers and sellers work with the first person they talk to 70% of the time.

If you’re a seller, you’ll want to list with an agent who’s ready for Mobilegeddon and has systems and people to answer the phone.  If you miss either step, you miss the buyer.  Buyers want the same thing.  They don’t like wasting time, and they want an agent who is up to today’s way of doing business.

Our website is mobile friendly.  www.Topagent,com You can search for homes, find out your home’s value, ready weekly articles, and get market statistics on your desktop, tablet, or Smartphone.  Do some searches on your Smartphone this weekend, then try again on April 21st.  What you see may be different.

You can call us at 239-489-4042

Bella Casa Closeout Event
Bella Casa Luxury Condominiums Fort Myers, FL

Don’t forget April is the Bella Casa Luxury Condo Closeout Event. Call to get a great deal and be sure to check out the resort style pool, tennis court, clubhouse.  Best of all Condo fees are only $220/mo and no CDD

SW Florida Real Estate Market Update

 

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

New Construction For Sale

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Did the Dates for Season Change This Year?

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Traffic on the roads has slowed down in town, but traffic in the real estate community hasn’t.  We’ve listed some homes and had contracts on them in short time. So we asked the question, did the dates for season change this year?

Last week two deals fells out and I was kind of mad because the seller had taken their home off the market for 2-3 weeks in March only to have a buyer decide they’re not buying in Lee County.  The sellers had just given up most of March for a flaky buyer.

The good news is within a few days we found a cash buyer with another cash buyer in waiting and the property will close near the original closing date so the seller is happy.  I’ve spoken with several real estate agents who tell similar stories and they feel the buyers are still engaged and looking.

Did the Dates for Season Change This Year

I decided to delve into the pending sales statistics to see if what I’m seeing is true overall, and the answer looks to be it is.  As I’ve stated before agents tend to judge the market by how their own deals are going rather than looking big picture.

I looked at new pending sales in February which is the latest data released and they were up 21% this year, as you can see from the chart.  This has been a positive trend dating back to September 2014.

Did the Dates for Season Change This Year?

Fort Myers Real Estate statistics-Cape Coral

Almost every statistical category has improved over last year, from median days on market, percent of list price received, pending inventory, active listings, and month’s supply of inventory.

I’m not sure you can call a 6.1% decrease in active listings an improvement because we need more, but it does signal we’re in a great market for sellers.

Because February data doesn’t always tell the story in April I decided to search the MLS for pending sales right now.  This week it came back at 2,531 pending listings, up from 2,386 back in February.

I’m thankful for all the pending sales we have right now, but I’m eve more thankful for the two that just sold again in April after having their deal fall out.  That is a wonderful sign.

We have several new construction deals in place too as some buyers just could not find what they were looking for in the resale market.  Sometimes it just doesn’t exist.  Buyers are surprised to find that when they enter their search criteria sometimes there is only 3-4 matches.  Sometimes it’s zero.

This is why it’s important to have your finances in order so when you spot that house that matches your criteria you’re in a position to pounce.  Other buyers just like you are also waiting for that home to hit the market.  You cannot assume you are the only buyer.

It’s kind of like dating on one of those Internet dating sites.  When a new attractive person enters the site they’re going to get immediate interest.  In real estate, the best homes go fast and the one’s that sit there are the unattractive and overpriced homes.

Just like dating, there’s a match for everyone, you just have to play in your league.  If you’re an overweight balding middle age man that drinks beer and sits on the couch all day you’re probably not going to attract that active in-shape 25 year old model.  She’s going to end up with someone in her league, not yours.

In real estate, all homes will find a buyer at the right price.  Even if the home is unattractive someone will buy it.  You just have to price it in the right league, or get off the couch and work on it.  When price meets value, a home will sell.

Don’t wait when you see your home come on the market. Feel free to search the MLS at www.Topagent.com

If you’re selling, call an experienced match maker who can help you play in your league.  We’ll get your home sold and you’ll be on your way to having fun.  239-489-4042

Call us to sell your home. 239-489-4042

 

Bella Casa Closeout Event
Bella Casa Luxury Condominiums Fort Myers, FL

Don’t forget April is the Bella Casa Luxury Condo Closeout Event. Call to get a great deal and be sure to check out the resort style pool, tennis court, clubhouse.  Best of all Condo fees are only $220/mo and no CDD

SW Florida Real Estate Market Update

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

New Construction For Sale

Fishing and Boating in SW Florida

Lee County Florida Sports

SW Florida Entertainment

 

Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

How is the Real Estate Market Really Doing?

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A few weeks ago our real estate market update told you how new pending sales were on the rise and how that could lead to increased sales in February and March.  Official new pending sales in February were up 21% and overall pending inventory was up 8.6% in February 2015 over last year’s numbers.  That sounds pretty encouraging for upcoming March sales numbers when the final numbers come in.

I’ve talked with real estate agents that didn’t feel like this January or February was particularly great, but agents tend to judge the market based upon their own sales versus the market’s sales.  I can say back in January and February and some buyers did seem on the fence and indifferent, but the numbers don’t bear that out.  The numbers suggest buyers were bullish.

March Real Estate Market Update

March is a different story. Buyers in March do seem interested and are buying.  It will be interesting to see what official sales numbers look like.  We have our first indications of inventory levels and sales levels from February.  Official numbers were just released this week.

Real Estate market Update Homes Closed

Single family home sales this year were 861 compared to 779 last year and 886 in 2013.  They were 992 in February 2012 but we had more inventory to sell back then.

If you look at the Active Inventory graph you’ll notice our inventory is well below previous year’s levels. In fact, single family home inventory is down 6.1% last year, and if you remember we were complaining about low inventory levels last year.

Single Family Active Inventory Real Estate Market Update

Median sale prices are up 6.5% this February and averages sale prices were down 2.6% We generally use the median home prices because it is more stable and less influenced by one or two large sales.

We think agent’s attitudes will be up in March for two reasons.  The first is the numbers indicate the market is doing well.  Secondly, buyers on the street have stepped up in March and the feeling on the street is positive.  There’s an old saying “Never let the facts get in the way of a good story.” This time around I think the facts will match the stories.

We like to stick with the facts, although I know it’s human nature for people to work off emotions.  There’s another old joke that asks the question “Do you know the difference between a recession and a depression?”  The answer is, when your neighbor is unemployed it’s a recession.  When you’re unemployed it’s a depression.

The same goes for agents.  When their business is up the market is good, and when their business is down the market must be down.

When you’re interviewing agents, be sure they’re using market statistics and not general feelings.  General market sentiment can be powerful, but there’s no substitute for actual real estate market facts.

If our numbers are down and the market isn’t, we don’t tell people the market is down.  We know we just need to work harder.  When the market is great, it’s not the time to slack off either.  Here’s one last old saying I’ll use.  “It’s time to make hay while the sun is shining.”

Bottom line is there is no substitute for hard work.  My grandpa and dad said if you were a hard worker you were a “Hoss”  There’s also no substitute for facts and market knowledge.

When you combine market knowledge and hard work you have a recipe for success.  You’ll notice some sellers will sell in a tough market and some sellers will not sell even in a Hot market.  The difference is knowing the facts and doing the right thing at the right time.

We can help you do the right thing today.  Simply call us at 239-489-4042 or visit our website at www.Topagent.com  You can ask for “Hoss” and one of our team members will get to work for you.

Feel free to search the MLS at www.Topagent.com or call us to get your home sold. 239-489-4042

Visit our new San Carlos Park Homes page or Search for San Carlos Par Homes Here [idx-platinum-saved-link id =”4929-37543″ title =”san-carlos-park-homes-for-sale”]