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Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

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.

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?

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

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

New Construction For Sale

Best Public High Schools in Florida

Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

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.

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.

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”]

Consumers, lenders, title companies, and real estate agents probably don’t all realize that big changes are coming down the pike and it will affect real estate closings in a big way later this year.

You’ll be hearing more about this issue this Spring and Summer as these new rules go into effect for closings starting August 1, 2015. The Consumer Financial Protection Bureau (CFPB) which is a new entity instituted by the Obama administration dictates that mortgage documents are locked in at least 3 days before closing.

Big Changes Coming to the Closing Table

Lenders will have to use the new TILA-RESPA Integrated Disclosure form and this form must be given to consumers three days before closing along with the Municipal Lien Search results. Any change to the form requires the clock to start over which means many closings will be delayed.

Some would argue this concept would change the common practice of lenders sending mortgage documents to the title company the day of closing which forces buyers to scramble to get a wire or cashiers check just before closing and this is a good thing. They’d be right, in part. That would be a good thing, however there will be some unintended consequences and perhaps some lawsuits arising out of the implications of implementation.

This new rule shifts the burden from title companies to lenders to disclose the TILA. Lenders have not been used to communicating with all sides of the transaction. Typically that’s been the role of the title agent. Lenders had a hard enough time getting a file from clear to close to their closing department and then on to title company. This now adds an extra layer, and if they weren’t great before, they’ll be less than average going forward.

Realtors and sellers will gripe because any change will change the closing statement, which could dictate postponing closing. How will a seller plan for a closing on a certain day when they must turn around and close on another property the same day? Any change to the first closing resets the clock and postpones it three days, which will postpone subsequent closings. I remember one day years ago where we had 5 simultaneous closings on the same day. We had the buyer and seller on all 5 properties and we ran into an issue on closing number 3 at the closing table. If #3 didn’t happen, 4 and 5 wouldn’t either and we had buyers and sellers with packed trucks all waiting to close.

Today this closing might not take place. We scrambled with the loan officer and made it happen, but that absolutely could not happen after August 1. The buyer has no say in the matter either. These are new Federal regulations and no matter how much a buyer or seller is impacted by the new rules, it won’t matter. Buyers and sellers will be sweating out closings hoping lenders have the disclosures in on time and all documents ready for closing. If you like going to Vegas, you can bet with certainty that many closings will not happen on the day they’re supposed to. It’s just a fact and Realtors, buyers, and sellers better load up on their chill pills now, because there will be high demand and short supply on those pills around Aug 2nd.

Don’t forget Bella Casa is having a close-out sale this weekend. Special incentives and financing are available on brand new 1, 2 and 3 bedroom luxury condos in South Fort Myers. Call our office for details 239-489-4042 or stop by the sales center located on Plantation Rd 1/4 mile North of Daniels. Open Saturday 10-6 and Sunday 11-6

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

Don’t forget this weekend is the Big Bella Casa Luxury Condominium Close-Out Event

While selling real estate is a complicated process with lots of details, selling blue skies and sunshine is easy, especially to our Northern friends who have been buried by another brutal winter.

One question that we get asked a lot by people relocating to SW Florida is what are the schools like? People are deeply concerned about the quality of education their children will receive, and about their resale value. Up North, the school district may be the largest determinant of their neighborhood’s value.

Top Rated SW Florida High Schools

People are happy to learn that SW Florida does very well in the state of Florida. In fact, a new study came out from Niche that ranks the top public high schools in Florida. Niche also ranks colleges, private schools, and elementary and middle schools.

Many people know that Fort Myers High School has consistently ranked in Newsweek’s Top 100 High Schools in America and that in 2008 Fort Myers High School awarded the most I.B (International Baccalaureate) diplomas in North America and was #8 in 2011.

What many may not realize is Fort Myers High School isn’t the only top high school in SW Florida. In fact, there are 5 top rated SW Florida high schools on the Niche Top 100 in Florida list.

17. Fort Myers High School

29. Naples High School

57. Gulf Coast High School

62. North Fort Myers High School

97. Barron Collier High School

We’ll concentrate on the two Lee County Schools for just a moment. North Fort Myers High School ranked A- in academics and A in student culture and diversity. They ranked B+ in teachers, extracurriculars and activities, and sports and fitness.

Fort Myers ranked A in academics, student culture and diversity, extracurriculars and activities, and sports and fitness. They ranked A- in teachers grade.

Naples ranked A in academics, student culture and diversity, and sports and fitness while ranking B in teachers and health and safety.

Cypress Lake Middle School has long been ranked as one of the top middle schools in the state however this year they didn’t rank in the top 100 according to Niche. Three Naples middle schools ranked in the top 100, #60 Pine Ridge Middle School, #71 North Naples Middle School, and #96 Gulfview Middle School.

Pelican Marsh Elementary scored highest in Lee and Collier County at #73 in state and Osceola came in at #78 Seagate Elementary came in at #88

Good schools are a staple of a healthy community and a talented and educated work force. SW Florida has excellent schools all the way up to graduate and post graduate at Florida Gulf Coast University as well as degrees from Florida Southwestern State College.

We have a complete list of high schools on our website with links to each school.

It is impossible for SW Florida to grow into a culturally vibrant community without solid education, and we can all be proud of the education offered here in our area.

A link to the complete Niche Florida rankings can be found:

Best Public Elementary Schools in Florida

Best Public Middle Schools in Florida

You can also search for your dream home at Topagent.com We have lots of homes close to schools and universities so have fun searching.

Introducing Bella Casa Luxury Condominiums in Fort Myers

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

Ellis Team

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

239-489-4042

Now May be Best Time to Sell Your SW Florida Home

Most people in SW Florida realize the real estate market has been recovering for some time now. So many either lost their homes or felt like they were in prison trapped in their own homes because they had negative equity. For the past two years more and more homeowners have been able to sell due to rising equity. Today we’d like to discuss why now may be best time to sell your SW Florida home.

We still find a large number of home sellers who are surprised that they can finally make a move. Some like that they are in positive equity positions again and sell while some believe the market is increasing so why sell now? Now May be the Best Time to Sell Your SW Florida Home

Home prices in Lee County are up 44.16% in 2 years. That’s a remarkable jump but that rate won’t continue. Here are some facts that might help you decide if now is the right time to sell your home:

The price of your home has gone up and so has the price of your replacement home. If you’re considering selling in Lee County and buying another one locally, waiting can cost you money
Interest rates are going up. We’ve already noticed a slow creep and they’re expected to go higher in the next 2 years. Not only will rising rates limit the buyer pool of your home, it will increase borrowing costs for your next home should you choose to finance.
Insurance rates are climbing on older homes. Insurance companies may raise rates on homes with older roofs, plumbing, and electrical wiring. It may cost more to stay in your older home than a newer home.
Maintaining an older home can be costly. You may have to spend money on a new roof, appliances, paint, pool, and more in the next 5-10 years. Some sellers elect to put that money into a newer home instead of throwing money at an older home that costs more to maintain and insure.
Your window for opportunity may be shrinking. As interest rates rise your options may dwindle. It may cost you more to move in 3 years so you decide to stick with what you’ve got. You’re stuck with an aging home that costs more to insure and maintain simply because you missed the interest rate window.

If you’re unsure about what your home is worth or if now is the right time, we have answers for you. Simply call the Ellis Team at RE/MAX at 239-489-4042 and we’ll discuss your options. Everyone’s situation is different and we can guide you through the maze. We can give you detailed pricing estimates and discuss all the factors that affect you.

We also have an online computer model that gives you an estimate of your home’s value. It rates your neighborhood, provides a list of comparable sales with the date your neighbors sold and the sold price per square foot, and an estimate of your home’s value.

Simply go to Topagent.com and click on the Find Out What Your Home is Worth link. It’s simple and Free.

As always, if you’re serious about making a move there’s no substitute for speaking with a professional. We’re happy to talk. We’re here for you either in person or online. We hope you appreciate our efforts to bring you quality information and we hope that when you decide it is time to sell, you’ll consider calling the Ellis Team at RE/MAX. If you think now may be best time to sell your SW Florida home, we’ll handle you with care. 239-489-4042 or TopAgent.com

Good luck and Happy House Selling!

Introducing Bella Casa Luxury Condominiums in Fort Myers

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

Golfing in SW Florida