Fort Myers Archives - Page 44 of 58 - Fort Myers Real Estate and Homes For Sale

This past year our team has sold several new homes in the The Plantation Gated Golf Course Community in Fort Myers Florida so we thought we’d tell you a little but more about this community. Here is an aerial view of the clubhouse.

The Plantation Gated Golf Course Community in Fort Myers Florida Clubhouse — Aerial View of the Clubhouse

With over 30,000 square feet The Great House as it is called by the developer features an interior similar to a British Colonial manor home. It features restaurant and a bar with two fireplaces. RE/MAX has had our Holiday office party at the clubhouse twice and a good time was had by all. The clubhouse has a golf pro shop, men’s and women’s locker rooms, a billiards room, gathering room, and a meeting room.

Overhead golf view the Plantation Fort Myers — Overhead View of Golf Course

The 18 hole championship golf course was designed by Hurdzan-Fry and is perfect for players of all skill sets. It is a 7,233 yard course with a variety of tees that provide various angles of play and is generally considered a fun but challenging course

Clubhouse Outdoor Seating Area — Outdoor Seating Area Overlooking Golf Course at Night

Somerset Hall is the hub of the Somerset at the Plantation community. It is a large activity center where the community can meet and socialize and features an on-site activities director. Somerset Hall features a resort style pool, spa, fitness center, aerobics room, massage and sauna rooms, locker rooms, tennis courts, billiards room, TV & Internet lounge, library, and community room.

Residents enjoy the resort style pool as a place to unwind or get some sun in.

The Plantation at Somerset Community Pool — Community Pool

The Plantation Gated Golf Course Community in Fort Myers Florida

To view more photos and video of the Plantation and the recreation areas check out our video on the Plantation Golf Course Community in Fort Myers

The floor plans aren’t bad either. Here is a photo of the kitchen in the Dartmouth II model. By the way, we hear they’re building all new models. The Plantation also has another section called Bridgeport at the Plantation with different floor plans as well.

Dartmouth II kitchen — Dartmouth II Kitchen

We have plenty more photos we could show you, but there’s no substitute for seeing the Plantation in person. Let one of our buyer specialists help find your dream home at the Plantation, or wherever your dreams take you. We know the area, we know the development, and we know the builder. It pays to work with an agent who can listen to your needs and recommend the best product for you.

We can be reached at 239-489-4042

If you’d like to search the MLS, visit our website www.TopAgent.com

To view our homes in Hi Definition, visit www.HomesinHD.TV or click on our playlist below

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By Brett Ellis

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

What is a 4 Point Home Inspection?

Most buyers are familiar with a typical home inspection where the buyer hires an inspector to inspect a home they are purchasing to see what defects or required repairs the home may have, as well as informative maintenance type issues. However, you may be curious about a 4 point home inspection.

4 Point Home Inspection For Insurance Company Discounts

You may have heard the term 4 point inspection thrown around as well. A 4 point inspection is a separate inspection report many insurance companies require on homes 20 years old or more. Citizens required them on homes 30 years old or more. Some companies are requiring them on newer homes as well, so it’s always good to check with your insurance company as getting a 4 point inspection is less expensive if added on to a regular home inspection.

The 4 points are heating and air conditioning, electrical wiring and panels, plumbing connections and fixtures, and the roof.

Insurance companies have become increasingly reluctant to issue Homeowner Insurance Policies on older homes (usually 25 years old or more). Their common concern is that there may be conditions in an older home that could become a liability to them. For instance; a home with a roof nearing the end of its reliable service life may fail while under the policy and the homeowner may seek reimbursement from their insurance company for damages to the home or its contents.

Similar concerns extend to the condition of the HVAC, electrical and plumbing systems in an older home. If these elements are in poor condition, in need of being updated or replaced or were improperly installed, they may fail and cause fire or water damage to a home.

Newer homes are assumed (by the insurance companies) to not have these problems as frequently as older homes. There is a standard form for this type of inspection that must be filled out by a qualified inspector or contractor.

There is also a Uniform Wind Mitigation Verification Inspection which provides significant discounts to a homeowner if the home qualifies. The state has recently changed the reporting rules this year making it harder to qualify for such discounts. More proof is needed in the report including photos.

There is also a Roof Certification Inspection insurance companies require when the roof is approximately 15 years old. The 4 point inspection report may suffice if your insurance company asks for this inspection. Check with your company.

Last week an insurance company sent over their own person to check on one of our listings for an upcoming closing. I checked with an insurance agent who said more and more insurance companies are starting to send their own people over to perform these inspections as they are not fully trusting the reports they are receiving. This may cost the insurance company more money upfront, but it is a signal that they are increasingly looking to limit exposure and risk.

Not only must a seller satisfy the buyer, the lender, the appraiser, but now also the insurance company before a home can be sold.

If the home has polybutylene plumbing you can forget about an insurance company insuring the home. The home must be re-plumbed.

Buying and selling a home today has become more complex. With new Dodd Frank regulations being written and taking effect combined with new insurance disclosures and requirements it’s a wonder anything gets done. Inspectors have to fill out more reports so they must charge more.

As regulations increase Realtors will have to charge more in the future. State Farm now requires their own forms be filled out by inspector on a PC, not a mobile device so inspectors are charging more for State Farm inspections.

Yesterday I had to go back out to a property under contract and photograph certain things for an appraiser to go in that report. Appraisers and insurance companies are documenting everything.

We’d strongly recommend getting a 4 point inspection as an add-on to your regular home inspection. It just might save you thousands on your home insurance, and it might come in handy when you go to sell the property, even if your insurance company doesn’t use it.

Good luck and Happy House Hunting!

Preview our Latest Video Featuring The Plantation, a gated golf course community in Fort Myers Florida

Whether you’re ready to list your home today or just get an update on prices, we’re here to help. To get your home listed and marketed in High Definition simply call the Ellis Team at RE/MAX Realty Group 239-489-4042 or email us at Brett@topagent.com or Sande@topagent.com To search the MLS visit TopAgent.com To learn more about Hi Def video for your home visit HomesinHD.TV

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By Brett Ellis

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

New Form Required on Florida Home Sales

A new form just arrived June 1st informing buyers of what the homeowners insurance and flood insurance may cost, and if the cost exceeds the amount disclosed then buyer may have a right to cancel contract.

There have been significant changes to homeowners and flood insurance policies and costs in the past few years and some are quite surprised at the hoops they must jump through to obtain affordable insurance.

The Ellis Team is strongly encouraging our sellers to provide an elevation certificate so we can obtain upfront what the flood insurance costs will be. Without the elevation certificate insurance agents are forced to quote off the base elevation which can be much costlier. Some buyers were surprised to find out flood insurance was tens of thousands of dollars on a property. This is one reason the National Association of Realtors urged Congress to make changes to the flood program.

These changes are in effect now, but having the elevation certificate helps. Many people don’t realize the buyer can assume the seller’s flood policy. This is worth examining as well.

Homeowners insurance has seen its share of changes too. Wind mitigation surveys can significantly reduce policy premiums on homes, especially homes built before 2002. Older homes are getting costlier to insure because they were built to lesser codes.

I called Peter Craig over at Pacific Crest Insurance as he has been bailing us out and saving deals for us from surprised buyers brought in by other agents who didn’t know about inspections and saving money. Peter told me about a company that is charging $800 to nail in clips so that the insurance companies will reduce premiums. If the home has certain features like hurricane clips or straps the premium is reduced. Homes built before 1985 typically don’t have either so having nails put in helps with costs.

He also told me about a survey company that does elevation certificates quickly. We ordered one for a property because the seller didn’t have one and got it back within a few days. I think the seller paid $130 or so for the certificate, but it saved his deal and saved the buyer thousands on insurance.

Many buyers qualify for the home, but when they find out the homeowners and flood insurance costs are so high without these discounts they no longer qualify. I’ve talked with several agents who have lost deals because buyers no longer qualified for the home. It’s knocking them out on their ratios on the monthly payment.

Sellers used to not care because it was the buyer’s issue, but that’s no longer the case. It’s not about if the buyer pays more in insurance, it’s about whether the buyer can still qualify for the home. Most buyers buy as much as they qualify for, but when insurance costs are double or triple what the lender used for their monthly payment, it knocks them out of the deal. Now sellers care, and if they don’t, they soon will when they start losing deals on their home. Even if the buyer hasn’t bought as much as they can afford, they still shy away when they see high yearly insurance premiums they weren’t prepared for.

Now the new disclosure addresses this upfront, which is a good thing. For it to work properly, getting quotes before you find the buyer is essential, so I’d recommend real estate agents find a good insurance agent and do the research on each listing before you find the buyer. Having the elevation certificate is crucial. A wind mitigation report is helpful as well.

It’s so much easier to sell a home once than several times. Getting this information upfront can save deals and get the sellers on their way to their next property and get buyers into their home the first time. It’s more work on the front end, but it will help keep deals together and save work on the back end.

Good luck and Happy House Hunting!

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1528 Pinecrest Rd

Cypress Lake Country Club

Fort Myers, FL 33919

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By Brett Ellis

Fort Myers Real Estate Agent

7910 Summerlin Lakes Dr

Fort Myers, FL 33907

Lately we’ve had multiple offers on several of our listings, especially in the $250,000 price range and under. We thought it would be good to update the months supply of inventory graph so buyers and sellers could see what price ranges are Hot.

Months Supply of Inventory SW Florida

Months Supply of Inventory Hot Spots:

As you can tell by the graph, anything up to about $300,000 has a low supply of inventory. All price ranges have come down since we last posted this graph in January. The $200,000-$400,000 numbers haven’t moved much. Back in January the $200-250 range was 4.92 months and today it’s down to 4.90 months. The $250-300 range was 6.19 months and today it’s down to 5.55 months. The $300-400 range was 7.83 back in January and today it’s at 7.24. All lower numbers but not much movement.

Where we have seen some significant progress is in the $600,000+ ranges. The $600-1 Million range was at 15.96 months back in January and today it’s down to 13.77 months. The $1 Million + homes was at 32.61 months which was almost a 3 year supply of homes on the market. Today that number is at 21.34 months. We’ve shaved almost a whole year off those inventory levels which is pretty remarkable in only 5 months.

Homes sitting at $400,000 and above have been competing in recent months with new construction. Even many of those homes have been bought up so inventory is tightening in some sub-markets. For instance, we’ve sold several new homes at Hampton Park. They just ran out of inventory until December. Sales at the Plantation have been strong as well.

When builders run out of inventory it does throw buyers back into the resale market, if the price is right. Speaking of prices, we had over 300 potential sellers check out our online pricing tool last week. www.swflhomevalues.com Many found that to be a useful tool to see where they stand in the market as they contemplate potential changes. If you’re considering moving up or moving out, now might be a great time to speak with us. We can present you with your options.

One reader didn’t like the bank’s recent appraisal on his home so he used our service. He didn’t like that price either as it was very close to the bank appraiser’s number and he was hoping for a higher number so he could refinance. We’ve never been to the property so we can’t say, but it does show that our service in many cases should be close or at least in the ballpark to what banks are appraising for.

We had several readers comment on our new Marketing in High Definition Program as well. www.HomesInHD.TV We are using a drone to take high definition video outside and high definition video on the inside and putting together a professional video for buyers.

The advantage to video is the online video is 53 times more likely to be found on 1^st page of Google and Bing than any other form of content, and the Ellis Team is leading the way to getting seller’s property rated high online.

If you’re thinking of selling, you should call the Ellis Team at RE/MAX. If you’re buying, you’ll want to check out our videos at www.YouTube.com/brettellisfl

If you’re shopping for a home, keep in mind which price range it is in. If your agent tells you there are other offers on the home, chances are there are, especially in certain price ranges. Make your offers accordingly. You might want to refer to our Top 10 Tips For Buying a Home in Today’s Market

Good luck and Happy House Hunting!!!

Preview our Latest Listing in High Definition
5731 Kensington Loop
Bell Tower Park

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Brett Ellis Bio

Fort Myers Real Estate Agent

View Properties For Sale in Fort Myers $400,000-$500,000

Perhaps you’ve wondered what your home is worth in today’s market but you didn’t want to go to all the trouble of hiring an appraiser or interviewing real estate agents to find out. Now there is an easier way to find out what your home is worth online.

Find Out What Your Home is Worth Online

Simply go to www.swfloridahomevalues.com and enter your property address. The system will analyze your home and you can verify that it has your square footage, bedrooms, bathrooms, and year built correct. If anything is not correct you can make changes.

Once you confirm details it will calculate your home’s value. Sometimes we find it is low and your home is actually worth more than what the report says. Others times it’s been high, but in any event we hope it’s a good ball park estimate based upon what’s selling in your neighborhood. The system should even update you when more recent home sales hit the market and it’s able to recalculate your price based upon the new sales. We had a seller who didn’t like the initial price but once some higher priced sales came in they were ready. The system alerted them to those new closed sales.

No online computer system is ever perfect. This tool is designed for those considering selling to weigh their options to see if the possibility even makes sense. If you’re struggling to make a decision, or need more information on how the process would work, there is no substitute for having a top professional come out and value your home and talk you through how the process would work.

We know you may want to purchase another property but can’t until you sell your current home. Many sellers don’t want to move twice so timing is also an issue. We can present you with some options that might make it easier for you to decide. Taking advantage of today’s low interest rates might be an advantage for doing this now versus waiting.

Often times sellers will wait for their home to go up in value all the while the next home they want to purchase is also going up in value. Waiting may be a wash on values, but it could cost you when interest rates increase.

Our new Marketing in High Definition program has been a big hit with sellers. For more information go to www.HomesInHD.TV We are now filming homes inside and out using High Definition Video. We also use a drone to film overhead video in High Definition and take amazing aerial photos. Buyers love the new technology and really study our listings. Google loves the new format and ranks videos higher than standard virtual tours. We still do standard virtual tours that generate a lot of traffic; we’ve just added the new High Definition Video for even greater visibility and buyers are responding.

Here is an example of a home in Reflection Lakes we produced in High Definition.

Here is a beautiful golf course home in Olde Hickory we produced in High Definition.

To search the MLS visit TopAgent.com To learn more about Hi Def video for your home visit HomesinHD.TV

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Brett Ellis Bio

Fort Myers Real Estate Agent

Season felt like it was good but statistically the numbers weren’t coming in like they usually do in the Fort Myers and Cape Coral real estate market. February and March sale prices were flat and this is the time of year they usually rise. We reported that was a trend we wanted to keep an eye on.

Other Factors Influencing the Fort Myers and Cape Coral Real Estate Market:

Another trend we were watching was the weather up North. This past winter was frightful in every aspect and many speculated this would be a boom for SW Florida, including us. The numbers weren’t as strong this season as the weather was dreadful, so some were scratching their heads.

At an Ellis Team meeting a few of our buyer specialists were commenting on how many of our buyers were done with living up North, but the weather was so bad they couldn’t leave. They longed for the day for the weather to improve enough so they could plan a trip down to paradise.

Guess what? Many of them did just that and our sales started rising. The last few days of April and the first week of May were particularly strong, and we haven’t slowed down since. Some of these sales were Northern buyers coming down. Others were local buyers making their move.

In any event, we’re starting to see the charts move again. It’s too early to tell if this is a trend as closed sales tend to peak in April and May then simmer back down for the rest of the year. The same is true with prices as Northerners snatch up higher priced homes during season.

We are seeing pending sales going up right now on our team. Countywide inventory is going down, so this may bode well for home sales going into June and July. Prices may follow suit, and if this holds true, it bolsters the idea that perhaps 2014 is in for a late season.

Years ago summer was the hottest selling months for single family homes. We might be returning to that model. Of course, years ago the locals freely bought and sold in the summer months when all the tourists went home because they had more time. Many locals work hard during season and things free up a bit when they go home.

For the last 7 years or so locals weren’t able to buy and sell in the summer because they were under water on their home, or their business hadn’t fully recovered yet. Now more and more are able to sell as they finally have equity due to rising prices and paying down their mortgage. Each year going forward we may see more and more eligible locals in the market.

At the Ellis Team at RE/MAX Realty Group we’ve been listing homes and they’ve been selling quickly. This could be a good sign. We’ve been excited to show off our new Hi Definition marketing program and we’ve been having trouble keeping our new listings long enough to video them. We do have some videos coming to the market you can check out at www.HomesinHd.TV

We are seeing increased activity from online leads as well. I just went in and searched our online MLS search site and we had 17 new registrations in the past 2 days, so that’s about 8.5 per day. That’s a healthy number signing up to view homes in MLS so that may be a sign there’s increased interest in the SW Florida real estate market as well. If you’d like to search the MLS, go to Topagent.com

We hope everyone has a happy and safe Memorial Day weekend, and remember Memorial Day is a day to remember US armed forces who died serving our country.

Good luck and Happy House Hunting!

To search the MLS visit TopAgent.com To learn more about Hi Def video for your home visit HomesinHD.TV

Visit our Google+ Business Page
Search the MLS

Search For Homes in Reflection Lakes Fort Myers

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Feel free to view our Virtual Tours .

Brett Ellis Bio

Fort Myers Real Estate Agent

Marketing Homes in Hi Definition in SW Florida

The Ellis Team is proud to announce a new way to market real estate in SW Florida. We are now Marketing Homes in Hi Definition in SW Florida. Technology has changed the way people view TV shows, movies, and content over the Internet. Today companies like Netflix stream TV shows and movies direct to people’s homes or mobile devices. People’s expectations are changing about how they want content delivered.

For the first time the Ellis Team at RE/MAX Realty Group is bringing cutting edge technology to SW Florida and combining it with High Definition video and studio production editing.

The Ellis Team already ranks very high on Google. Video is 53 times more likely to generate 1st page Google ranking over any other form of content. Video provides a 41% higher click-through rate on universal results pages, and keeps visitors on your websites 6 times longer.

Videos 53 times more likely to generate 1st page Google ranking — Video Adds Higher Click-Through Rate

73% of sellers say they are more likely to list with an agent who uses video. However, YouTube is filled with videos shot from cell phone cameras and terrible audio. Consumers expect studio quality video, and when you provide that companies like Netflix flourish.

We think quality is important. Video also allows us to tell a story about your home. If a picture is worth a thousand words, how much is a video worth?

We’ve added a drone to allow us to take full motion high definition video of your home and community. The drone adds perspective we just can’t achieve from the ground. We’re able to show the lake behind your home, the golf course, property boundary lines, and proximity to landmarks. Buyers love seeing homes from a bird’s eye perspective. We also take stunning aerial photos from the drone.

We don’t stop there. We add professional high definition video from inside the home as well. Lastly, we compile the inside and outside video footage into a well produced video and upload it to various websites and YouTube.

We’re adding a Featured Homes in HD playlist to our YouTube channel which is already one of the most viewed YouTube channels in SW Florida. To date we’ve received over 200,000 video views and this number will grow quickly with the addition of High Definition Property Videos.

We’re not the first to use a drone. We’ve been marketing our properties using video for years to great success, so video is nothing new. What is new is combining cutting edge technology like the drone with professional video inside the home, and professional video editing to create the ultimate viewing experience for a buyer.

We think showcasing homes in High Definition is the Future of Real Estate™. Our new website explaining the program can be found at www.HomesinHD.TV

Each video takes some time to film and produce, so if you’d like your home featured in HD, call us now so we can get you on the list. Of course we’ll advertise your home in the newspaper and all the various places we advertise, and we think you’re going to love the new high end video we’re bringing to SW Florida.

To search the MLS visit TopAgent.com To learn more about Hi Def video for your home visit HomesinHD.TV

Visit our Google+ Business Page
Search the MLS

Search For Homes in Reflection Lakes Fort Myers

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Feel free to view our Virtual Tours .

Brett Ellis Bio

Fort Myers Real Estate Agent

Now Marketing Homes in Hi Definition in SW Florida

If you recall back in March and early April we reported that preliminary March Sales weren’t as strong as hoped and indeed the official numbers confirmed that prices weren’t rising in March at a time when they typically do.

Strong April Sales Numbers in SW Florida

We are happy to report that April numbers appear to be coming in a bit stronger. Official numbers won’t be reported until later in the month and agents are still changing pending sales to closed and adding final sales prices to the MLS, so it’s impossible to gauge for sure. As of May 6 we are seeing median sales prices rising to $191,950, up from $185,000 in March and up from last year’s April figure of $182,000.

Now here’s where it really gets interesting. Our phones and Internet leads have blown up the last week of April and first week of May. Contracts are coming in very strong and buyers are buying. It’s stronger now than all of season was. Many have speculated this could happen.

Here’s the buzz we were hearing from buyers all season. The weather up North was terrible. In fact, it was so terrible many couldn’t get here. Many waited for the weather to improve and now they’re making the trip to purchase. Many who did make it down are returning. I don’t think we can underestimate how impactful this past winter has been, but it isn’t the sole reason we’re strong.

The economy is improving some. Interest rates have risen and are expected to go higher. Many people have been locked in their homes for so long due to negative equity and when they’re finally able to break out it’s like a jail break. We’re seeing locals moving up, down, and laterally. We’re finally returning to a healthy market after years of healing.

Are we completely healed yet? That depends on your situation. Some are still in negative equity so they would say no. For many the answer would be yes. In any event, opportunities have opened for those in a position to take advantage, and this is the way it always is. The market doesn’t care what you owe or what you need out of the property. It never has. The market only cares about what a home is worth today. Markets are always on the move and rarely stay constant.

The good news is we have a market, and it’s a vibrant flowing market with money on the move. This beats a market where homes just don’t move. If you price your home correctly, there is a market. If you over price it, chances are it will not sell, and that is true in an up, down, and sideways market. It’s always true. It is perhaps the only constant in real estate.

Some say it’s all about location, and I won’t argue that. I will say it’s all about Price. A home with a better location will fetch a better price. If you over price the best location, it will sit. Conversely, the worst location will sell too, at the correct price. So, location is secondary to pricing.

If sales like this keep up we may head back to a market where the summer months are the best months for single family home sales. In the old days Season was best for condos and the summer months best for single family homes. SW Florida used to be a year round market and we may be returning to that. Summer sales never left, but they may actually rise going forward.

We’ll keep our eye on it. By the way, if you’re considering selling, we’ll be introducing a new way to market homes in SW Florida. We’re pretty excited about it, and we think you will be too. Don’t list your home until you talk to us. 239-489-4042

Good luck and Happy Selling!

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Brett Ellis Bio

Fort Myers Real Estate Agent

The other day someone on Facebook asked “How do you know what questions to ask when hiring a realtor to sell a home?” It reminded me that we have a page on our website www.Topagent.com in our sellers section a list of interview questions to ask before hiring a Realtor to list your home.

I went back and looked at it and some of the questions were outdated so I freshened it up a bit. That page had been there awhile. So I thought I’d share a few of them here in random order:

Interview Questions to Ask Before Hiring a Realtor

1 How many homes did you sell last year?

2 How many homes have you sold in my neighborhood?

9 Is there One thing you can do for me that Nobody else can?

47 Is it a good idea for listing agent to accompany all showings for my home?

42 Do you give advice on how to properly show my home once it is for sale?

32 What advertising do you as agent provide separate from what your broker provides to all the agents in your office?

28 If a buyer calls on my home while you’re out on appointment, do you have buyer agents on your team available to show my home so we don’t lose the buyer?

15 Do you have your own website or a company provided one on their domain?

16 If you have your own website, is it a custom website you manage or a template website?

18 How do you achieve top search engine rankings when everyone else is vying for those top spots?

11 Do you place the MLS on your website, and will my home be a featured listing?

5 Do you have your own YouTube channel and why is that critically important?

6 How many views does your YouTube channel generate?

7 How will my home be featured on your channel?

3 Do you have an online listing portal where I can sign in and see all the activity on my home? Showings, marketing, copies of the ads, feedback, etc.

27 Where and how often will you advertise my home?

29 When buyers call your office, do they talk to a machine or a live, friendly human trained to help them?

36 Does your company have a national advertising campaign to attract buyers?

38 Do you have your own newspaper advertising space or do you share space with a bunch of agents?

43 Will you list a property at a higher price than you know it can sell for?

44 Do you price your properties for top dollar, or do you under-price them for quick sales?

48 Do lenders work hard for your clients, or put you on the back-burner because you’re hard to deal with?

For a complete list of questions to ask your realtor before signing anything, visit www.Topagent.com and look in the sellers section. For answers to these questions, call the Ellis Team 239-489-4042 and we’ll be glad to share the right answers with you. Asking some of these questions will make the agent you’re interviewing uncomfortable. You’ll begin to understand which ones understand their Internet presence, which ones have closed a lot of sales and have experience in your neighborhood, and which one rely on what their broker provides and tells them.

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Fort Myers Real Estate Agent

SW Florida home sales climbed in March to 1,068 sales for single family homes. This is down 7.1% from last year but up 37% from February’s home sales figures. We would say this is good news for the local real estate market as sales are holding up nicely. We think they could have been higher if there were more listings on the market ready to compete for buyers.

In speaking with several real estate agents and new home communities it seems that buyers this year watched the huge price increases we’ve seen over the past few years and many decided it was time to consider new construction. For many years new construction was priced out of the market because existing homes were far less expensive. Existing homes were undervalued and new home construction basically had to sit on the sidelines or risk building at a loss.

SW Florida Home Sales and New Construction

With the recent run-up in prices builders can compete again. This will be news for many sellers in SW Florida as they’re not used to competing with new construction in many years, but those days are back. Our market was undervalued and had to rise. Now that it has, competitive forces come into play and will temper large price increases going forward. We may be back to a normal market where we’ll be watching indicators that may affect our market like supply and demand, along with inflation, the economy, interest rates, consumer confidence, insurance rates, and others.

All these forces affect the local and national market. Because we’re no longer undervalued by a wide margin, and because free money is leaving the scene, and flood insurance rates may rise, the market now must react to natural market forces. We were insulated the past 5 years.

This market wasn’t a lot of fun on the way down, although it was fun on the way up, but now we’re getting close to market equilibrium. There is still much room for market growth, but it may need to be sustainable growth based on reasonable market factors. Most agents would agree it’s actually kind of healthy to get back to a stable growing market.

Even in a stable growing market there will be pockets of sub markets that will thrive and some may struggle. Some areas of town will be hotter than others. Some subdivisions are still fighting off remnants of short sales and foreclosures, or the association is making up deficiencies left by members that didn’t pay.

Some price ranges have less supply and more demand, and vice versa. You cannot price your home by how the overall market is doing, just as we can’t price SW Florida based upon how the National market is doing.

If you’re considering selling, it pays to consult an agent who understands the market and what is really taking place. You don’t need an agent that simply reads the headlines and prices your home based upon where they heard the market is heading. By the time you read about it in the papers or see it on TV, chances are the market has already shifted. The market rarely stays in one place for long.

Listing inventory is rising again. In the next few weeks we’ll be introducing a new system that will really shake things up in the SW Florida real estate market. We’re not ready to release details just yet, but if you’re considering selling your home, now might be a good time to call the Ellis Team at RE/MAX Realty Group 239-489-4042 or stop by our office at 7910 Summerlin Lakes Dr Fort Myers, FL 33907

We’ll make sure you understand the market forces so you can make a good pricing decision, and you’re going to love the new program coming soon!

Good luck and Happy House Hunting!
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Fort Myers Real Estate and Homes For Sale

SW Florida Real Estate Market Updates & News

Category Archives: Fort Myers

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