Open House Archives - Page 5 of 14 - Fort Myers Real Estate and Homes For Sale

You would think rising home prices would decrease home affordability. This simply is not the case as the home affordability index nears all-time highs.

If you look at the chart, home affordability was greatest back in 2012. Median home prices averaged $131,000 for the year compared to $289,000 in 2020. Today home prices are higher, so we took the yearly average.

So, what would cause affordability to rise if home prices are also rising? Interest rates. Lower rates equate to a lower mortgage payment, and it offsets the rising cost of the home. Therefore, we are saying there is more room for further price increases.

Home Affordability Index Nears All-Time High

The home affordability index currently stands at 16. It went as low as 13 in 2012 and hovered below 16 for 5 years. The other thing that is different today is that we have end users for every home and rental. Back in 2005 we had speculators bidding up prices to flip with no real end user in sight. It was a house of cards. Today’s market is no house of cards. We have legitimate demand. In fact, we have more demand than supply.

Even if rates rise, we have room for that in the index. As you can see, traditionally the index stands between 19 and 22. At 16, we have some room if rates rise. If interest rates do not rise much, we have room for further price growth.

Furthermore, we believe Florida has been undervalued for years relative to what it brings to the table. Sunshine, low taxes, and freedom to work are just a few, and people are taking notice. With the transition to work from home jobs, Florida is on the radar. We just might see affordability numbers rise above their traditional numbers of 19-22. That makes sense to us.

Of course, nobody knows what exactly will happen. We do not know how much the price of oil will increase, what interest rates will do, and how the economy will react. We do not know if northern states will continue to increase taxes, and we do not know what Covid-19 will do. What we do know and are observing all looks favorable to Florida.

Our best advice for buyers would be to purchase as soon as you can. As prices rise, and interest rates rise, your next home will inevitably cost you more than it does today. If you have a home to sell, think about doing it now. Waiting to get more money down the road will only cost you on the buying end. It may cost you more in higher rates than you will receive with a higher price.

Our best advice to sellers would also be, do it now. You are in the driver’s seat, and that’s a fun seat to be in. While the market looks on the up and up, we never really know how long these markets will continue like this. While we can make the case for increased prices, the price gains may not continue to rise at the same rate we have just witnessed.

History shows us the market never gives advanced warning when it is going to turn. Sometimes we see signs, and we report those. We are not seeing those signs, but someday we will and there will be those that miss out. It always happens and will until the end of time. It is true in the real estate market and the stock market. You can never time the top perfectly, just as you cannot predict a bottom perfectly. It is only after it occurs that we can tell you with certainty.

If you are thinking of selling, call Sande or Brett Ellis at 239-310-6500 or visit www.SWFLhomevalues.com for an instant home valuation.

See last week’s article “National Housing Supply Shortage Predicted Years Ago”

Good luck, and happy selling! Don’t miss this market!

New Opportunity in Whiskey Creek

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

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

Pre-Election Dollar Volume up in Summer

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

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

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

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

Waiting on a Winner

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

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

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

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

Ellis Team Weekend Open Houses

Saturday Nov 7th 12-2 PM

11685 Kati Falls Ln

Sunday 1-4 PM

13825 Bald Cypress Cir

13876 Lily Pad Cir

Like Southwest Florida, the United States housing market has fared very well in 2020. A robust economy pre covid-19 and low interest rates are two factors that have fueled the real estate market locally and nationally.

We like to analyze data that may affect the market now or in the future. When looking at national unemployment numbers we see that unemployment is falling fast and steadily from its peak in April. The last time we saw double digit unemployment was 2009 and it took 4 years to fall just 2.5%.

We know that our current unemployment rates were forced by the Coronavirus outbreak and was precipitated by forced shutdowns. It is not surprising that we are rebounding so fast and steadily., and yet we know that anyone who lost their job probably lost their ability to pay for housing for any length of time. Thank goodness we had a good economy going into this thing. Imagine how tough this would have been financially back in 2009.

Secondly, we like to look at who was most affected by job loss, as that may leave clues as to what is ahead for the United States housing market. The hardest hit segment is the 24 and under segment with current unemployment at 14.1% They make up 3.0% of all home sales in the United States housing market.

The 25-34 age group has 9.7% unemployment and make up about 25% of all home sales in the United States. Lastly, we see the 35+ group with 6.8% unemployment. They make up 72% of all United States housing market home sales.

Home Sales are Strong

This might explain why home sales have been so strong. The majority of home buyers have been the least affected by unemployment. Low interest rates have helped offset any losses by affected home buyers. Still, 8.4% unemployment and rising home sales may not be sustainable forever. The good news is unemployment should not stay at 8.4% as those numbers are declining rapidly.

We plan to watch these numbers as they should leave clues about what is ahead for the United States housing market. One potential scenario is it could hold back move-up buyers. The 25-34 age group tends to be first time home buyers, and if a significant number hold off purchasing their first home it could impact down the road some move-up buyers who are ready to make their next move.

If the economy keeps improving and we get the service sector back to work, this should all work out. Question marks remain how the travel and tourism segments will fare and people’s willingness to travel until covid-19 is under control. Optimism in the vaccine and treatment fronts abound and this could help that segment recover sooner if therapeutics or prevention pans out.

Florida Looking Good for the Future

While the United States housing market may max out at some point until the economy recovers, Florida is looking rather good as many from out of state have found Florida desirable. Florida is a net migration state from other states, so we may buck the trend if the national United States housing market maxes out someday.

At last check Lee County single family home inventory is down to 2.36 months supply of homes on the market. Buyers must be quick and decisive to score a home in this market. Sellers must be wise and patient, making sure they select the best offer for them, not necessarily the first offer that tried to box them into a quick decision. This is where experienced agents come in.

Experienced buyer agents know how to make your offer as strong as possible. Looking at it from the seller’s eyes is extremely helpful now, and therefore experience matters.

Sellers need experience now more than ever, so be careful trusting your home sale to an agent with little to no listing experience. If you would like to speak to Brett or Sande Ellis about the process, we’re available. Simply call 239-489-4042 Ext 4, or visit www.SWFLhomevalues.com to get a Free estimate of your home’s value.

Good luck and Happy House Hunting!

See last week’s article “Florida Real Estate Demand Heats Up From High Tax State Residents”

Ellis Team Weekend Open Houses

Open House Saturday 12-3 PM

1453 Mandel Rd

6414 Royal Woods Dr

Open House Sunday 1-4 PM

7706 Bay Lake Dr

SW Florida seller’s market fuels rise in home sale prices. Hot home sales and declining inventory along with low interest rates have caused this seller’s market.

Eventually it had to show up in prices. Median home sales increased 9.4% over last year while average prices increased 8.5%. This is July over July numbers, not July over June 2020 numbers. This tells us prices are on the move.

Seller’s Market Fuels Rise in Home Sale Prices

Rising prices are a good thing for home sellers, but not necessarily a bad thing for home buyers. Waiting may be a bad thing for home buyers, but not rising prices itself. The reason is interest rates have helped increase affordability, which means buyers can afford more purchase price for the same monthly payment. The only thing that may hold some buyers back is the larger down payment.

We are seeing buyers asking for closing costs because they are having to put more down payment up due to rising prices. This is one reason buyers should look to purchase sooner than later, because their down payments will keep going up with rising prices.

High Tax States Losing Residents

Secondly, we are seeing buyers purchase in Florida from other states. New York city is losing residents in droves. In fact, you cannot even get a U-Haul to move out of the state right now in New York City due to high demand. Vacancies in New York City are rising fast.

New York City is not alone. It is darned near impossible to grow a business with high taxes, shutdowns, riots, and violence. One of these factors alone puts pressure on businesses and combined it is becoming the fatal blow. Some people speculate these factors may result in the downfall of our cities.

Residents are voting with their pocketbook and they are getting out of Dodge. People want to feel safe and feel like they can live and work in a place with opportunity. Florida is one of those places people are choosing to move to, among others. The SW Florida seller’s market fuels rise in home prices.

What this means for home sellers in Florida is this is the best seller’s market we’ve ever seen. It is always better to sell your home when there are many buyers and few sellers to compete with. Even computer valuation models are picking up on the rising prices. One of the best is www.SWFLhomevalues.com You can receive a free estimate of your home’s values in seconds. The site will even display a confidence score. The higher the confidence score, the more accurate the valuation tends to be.

Getting Top Dollar For Your Home

Getting Top Dollar for your home is a science best left to experienced agents. In this market you are likely to encounter multiple offers if the marketing is done correctly. Experienced agents know how to get the most out of multiple offers and have the wisdom to know which offer to take. One of the deadly sins homeowners make is selecting the wrong offer. Each offer is a gamble, so selecting the right offer is critical. It is not fun to go 45 days into a transaction and find out the buyer or the buyer’s lender cannot perform under the terms of the contract.

We receive offers all the time from inexperienced agents that have no idea the offer they wrote will not fly with the lender. Sellers can pay closing costs, but each loan program is different. We had to restructure a loan the day before closing because buyer did not have minimum amount down and could not benefit from agreed upon closing costs for a repair. I asked the buyer agent to check with the lender before we agreed to the change, and she said she did. She did not realize how something like this could kill a deal. Now she does. It is not her fault; she just did not have the experience to know better.

Therefore, hiring the right agent upfront can make all the difference. We got it done, but it took a lot of work at the last minute.

Always call Brett or Sande Ellis 239-489-4042 Ext 4 to get your home sold Fast and for Top Dollar!

See last week’s article “Closed Home Sales Back on Track After Shutdown”

Seller’s market fuels rise in SW Florida home prices, and it could last awhile with interest rates expected to stay low through 2021.

New Ellis Team Listings

High Point Place

2090 W First St #H2908

Reflection Lakes

7706 Bay Lake Dr

Part of any successful advertising campaign should include the ability to identify and target people most likely to buy a product. The Ellis Team uses targeted real estate advertising as an additional way to sell homes for top dollar.

Let’s say your company makes the best dog treats on the planet. You would want to target pet owners, and more specifically dog owners. It would do no good to target cat owners if cats do not like the treat. When we list a property, we try to think like a buyer. If I list an 800 sq. ft home, chances are 8 roommates are not going to buy it.

In the covid-19 era we know many people lost their job, so they are not in the market to purchase right now. Others who kept their job may want to take advantage of the low rates. Still others do not need a job to purchase. It gets complicated. What we do know is an owner has hired us to find a buyer for their property.

As aggressive real estate marketers the Ellis Team casts several nets. Our newspaper, PPC, radio, TV, social media, and direct mail campaigns cast a wide net. We advertise the property to anybody and everybody hoping to find one or more buyers who show interest. We call this the shotgun approach.

Additionally, we cast tighter nets. We call this the rifle approach. Lately we have been targeting cities up North where we know buyers are selling and leaving. We talk to agents daily who tell us they have sellers leaving their state and they are not coming back. Florida is one of the areas they are moving to. We have the ability to advertise our listings anywhere in the country.

Targeted Real Estate Advertising

The graphic shows two separate ads we ran this past weekend. As you can see, these two ads generated 40 buyers in just one weekend. Keep in mind, we are showing you just 2 of the out of town ads. We may run more ads than 2, and we also run local ads for buyers who have an interest in real estate. I count 61 buyers signed up just last weekend alone.

By casting multiple nets, we have been able to accumulate a significant amount of people interested in buying property here in SW Florida. This data is useful because our team of buyer specialists can see what they are searching and call them with new properties entering the market.

It works like this. Let’s say Sande or I go on a listing appointment and the seller wants to sell. We know they will have their home ready next week to put on the market. Our buyer agents can begin calling buyers in our database ahead of time letting them know that a seller will be listing their home next week in an area they are looking in.

We May Already Have a Buyer

Our team may already have the buyer for that listing. We acquired that buyer through endless marketing, both during the time of the listing, and even before we took the listing. Sellers benefit from the previous marketing our team has done because we keep the database of buyers. This database is so valuable because it not only includes their name, email, and phone number, it also tells us what they are searching for and what they like. Our agents can search the database and find buyers quickly.

Do not call us if your home is listed with another Realtor. We offer this service for Ellis Team clients only. We already know about the homes listed on the MLS. Our buyers can see your home on our website. The Ellis Team proactively calls buyers when our team lists a new property to MLS. Those sellers hired us, so those are the sellers we spring into action for.

If you’re thinking of selling and want to talk to us about the process, call Brett or Sande Ellis 239-489-4042 Ext 4, or visit www.SWFLhomevlaues.com for a Free instant online estimate of your home’s value. Find out how targeted real estate advertising can help your home sell for top dollar too.

Good luck and Happy Selling!

See last week’s article “Total Real Estate Sales Volume Bounces Back for the Year”

Ellis Team Open House

Open House Sunday 1-4 PM

14120 Reflection Lakes Dr

14120 Refletion Lakes Dr — Open House Sunday 1-4 PM in Reflection Lakes Fort Myers

New Listing – Video Walkthru

5259 Skylark Ct

It is no surprise that real estate transaction dollar volume dropped in May. May closings were a result of March and April pending sales which were impacted by covid-19 and stay at home orders in Florida. Going forward, new pending sales have been strong, and top agents are having an exceptionally good year.

Dollar volume is the number of transactions multiplied by the average sales price. That number dropped from $569.1 million last year to $326.0 million this year. That is significant.

One of the things holding down sales is the limited inventory. The other is travel has been limited during this period from other states. That is not to say the motivated didn’t find a way to get here and purchase, but it did limit many. Properties at the lower to mid end have been doing well. Because of this, it has pulled the median price down .7% and the average price down 6.2%. I would not say prices are falling though. Right now, it is more of the mix of properties that are selling that is causing this.

We have seen this pattern before. When real estate transaction dollar volume drops, it is not long after that agents start looking for the exit door. These agents do not head directly for the door, they take a detour. First, they are attracted to low cost brokerages with higher splits and fees based per transaction versus monthly. It is an attempt to salvage their fledgling real estate career, and it does not work. They were struggling before the crisis, and the real estate transaction dollar volume drop exacerbates it.

The detour is simply a speed bump to slow down the inevitable. The exit door is approaching. Sellers should be leery of listing with an agent who does not have listing transaction experience and has not had recent sales. One question you might ask is, how long you have been with your current company? Another would be how have your sales been in the last two months?

If you are considering selling, we have a list of questions you should ask the Realtor you are interviewing before you sign any agreement. Another tell tale sign is when they agree to cut their commission. This tells you two things. Number one, they need a deal badly, and since profit isn’t a predominant factor, survival is, they may not be around by the end of the transaction. Secondly, if they cannot negotiate their own transaction, how in the world can you trust them to negotiate on your behalf? Lastly, if they say they can do it for less, you must wonder if they’re spending money marketing your home, or just relying on the price and MLS to sell it. If they don’t do anything for you, why pay them anything?

The whole point of using a Realtor is because they put more money in your pocket at closing than selling By Owner does, and that is a fact. Realtors spend money, and each has their own value proposition. If their value proposition is dropping, it means their value to you as a seller is dropping too.

Before you shortchange yourself and hire the least expensive agent you can find, call us, and explore the difference. If netting more in your pocket at closing is more important than the low fee you pay, we need to talk. Most people believe the less cost you pay the more money should flow to your pocket, and that makes sense. The only problem is it is not necessarily true.

Brett and Sande will answer your questions and show you how we are able to get more money for our sellers. In times like we are in today, experience matters. Put the experience of Brett and Sande Ellis to work for you. 239-489-40402 Ext 4 or email us Brett@topagent.com or Sande@topagent.com

We’re excited to talk to you! Good luck and Happy Selling!

See last week’s article “Hurricane Damage Roof Claim Settlement Deadline Approaches”

Ellis Team Open House

Open House Sunday 1-4 PM

14120 Reflection Lakes Dr

New Listing in Reflection Lakes — Open House Sunday 1-4 PM

We thought you would like to know some changing real estate trends we are watching and how we are adapting. This is only the 2^nd time in my 30+ years in real estate I can remember changes so significant like we are seeing today. The trends we are seeing today in are different than normal economic cycle’s ebb and flows.

The last changing real estate trends we saw was back on 9-11, 2001 The United States was rocked by an enemy. The country banded together, and Americans decided it was safer to nest at home versus travel abroad. So, they did. People hunkered down, traveled to within driving distance of their home and made home renovations, because home is where they were going to enjoy life and their family for a while.

Changing Real Estate Trends

Today, we are seeing similar tendencies. Cruises, airline travel, and International travel are scary to many considering covid-19. Workers learned to work from home, and companies learned it’s feasible. Once companies learned this, they also learned they can save on high cost lease space in the city and setup shop in either the suburbs, or far away from where they originally thought they must be.

Two things happened. Workers realized if they could work from home anywhere, why be in the city, and why be in high tax states? Why not move to warmer climates that are tax friendly? Not long after that, companies realized the same things. If our workers are moving, why couldn’t we? Companies have been reluctant to move for fear of displacing so many workers and not having talent in the location they might move to. Now that workers are willing to move, combined with fact they can still work and not have to live where they work opened the doors for companies to explore options.

Then another thing happened; the unfortunate death of George Floyd, the protests that ensued, and more specifically, the riots and mayhem. Combine this with talk of disbanding police departments and it sent some companies over the edge. Companies like steady, predictability. Chaos and mayhem are not business friendly. The thought of closing stores, losing inventory, and putting employees in harms way was too much to stomach, and many businesses are leaving. It’s not good business practice to operate in unstable environments.

This is also a reason why some companies are relocating from China back to the US; predictability and stability. So, who benefits and who loses in such a scenario?

Florida is Attractive to Buyers

States like Florida are big winners. Florida has done well with covid-19. Riots have been well contained in Florida and leadership at the state and local levels have been strong. Sure, some will always disagree with this stance or that, but leadership itself has been strong.

Consumers are looking to migrate out of cities and move to suburbs, smaller towns as well as rural. RV sales have picked up tremendously. RV dealers are practically sold out in some cases. I checked with an RV dealer locally who confirmed sales are off the charts and they are having a hard time keeping inventory. Sound familiar?

Gun sales have increased. People are worried they may rely less on the government for protection. The events of 2020 may shape real estate decisions in a way we have not seen since 2001, and this time it appears to be more dramatic.

People crave predictability and stability. Companies do too. When they do not have that, they take control to the extent they can, and that’s their family’s personal safety and housing.

Shifts in Advertising

We have shifted our advertising. We still advertise locally, and we are bumping up our advertising into areas where we know people are migrating out. It is working. We have buyers coming in from all over. Our artificial intelligence can identify where buyers and referrals are coming from for any city. For example, here is the map for incoming referrals to Tampa. Each city has its own patterns. Hire us and we’ll put the SW Florida data to work for you.

The Ellis Team is forging relationships with top agents in each of these cities, as well as taking out targeted ads directly to buyers in those cities. They are coming here and buying. Our team sold 3 homes last weekend to leads we have been working using targeted ads.

If you are thinking of making a move, call Sande or Brett Ellis 239-489-4042 Ext 4, or visit www.SWFLhomevalues.com to see what your home is worth, or www.LeeCountyOnline.com to find your next home.

See last week’s article “Agent You Choose Matters When Listing Your Home”

Agent You Choose Matters When Listing Your Home

Ellis Team Open House

Closed and pending sales outpace new listings in the SW Florida real estate market once again. Looking at the latest 7-day Lee County numbers shows 192 new single-family home listings and 349 new pending sales. There were 222 closed sales. The closed sales number will only increase because numbers were taken Wednesday April 29^th at the time, we are writing this article. It takes a few days to report out closed sales end of month. As pending sales outpace new listings we’ll have to track and see if there is eventual upward price pressure.

Pending Sales Outpace New Listings

The Lee County Florida real estate market has been busy this past month as new pending sales outpace new listings. Closed sales did as well. The Ellis Team has been busy too this past month. We hold daily sales huddles and yesterday we counted 10+ pending deals for month of April and we did not have all our agents on call. That is not bad for s state that is been on stay at home orders. Keep in mind, real estate is considered an essential business, so we’ve been able to conduct virtual showings and virtual open houses, but the public hasn’t been out shopping models and showings like they used to. Most all of this has been done virtually with minimal in-person showings.

Our team takes the real estate business seriously. It’s a full-time profession for us, which means we don’t have other jobs paying our bills. Because we take it so seriously for our clients, we’ve learned to innovate and adapt to changing conditions.

We know many buyers still want or need to buy. Many sellers want or need to sell, so it’s up to us to find a way to make that happen for them and find a way we did.

Other agents are switching companies, and some companies are even contemplating closing their doors. We are fortunate to belong to a national company with no debt and full of ideas. We share best practices and ways to get the job done for our customers.

New Virtual Programs

If you read this article or subscribe to our blog you know about the programs we’ve introduced the past month. Programs like www.virtual-listing-appointment.com, or www.virtual-open-houses.com, or www.virtual-showings.com None of these programs existed 30 days ago and they are so critical to what we’re doing today.

It is not the website themselves that makes this a success. It’s the concept. For instance, sometimes another Realtor has a buyer and they ask a question about one of our listings. We have options to show them the home or answer their questions. We can visit the property and do a live or recorded video. Our team can schedule a 3D showing online with the customer and their agent, so they can ask any question. As the listing agent we can answer those questions and even point out a few things the other agent might not have shared. Nobody has to be at the property because we utilize cutting-edge technology upfront to be able to show the property over and over again with the 3D tour.

The bottom line is successful agents will thrive and adapt no matter what the market throws at them. I have sold real estate through several recessions, double digit interest rates, and a housing and financial collapse. Those experiences taught us how important it is to adapt quickly. What seems like an obstacle to many agents is a simple pivot for us.

The Future of Real Estate

Going forward we can see this may become the future of real estate. We believe there will be a new normal. Many agents you see today won’t be here 6 months from now, and next year there will be a new crop of agents eager and ready, but they won’t have the experience of what it takes to survive and thrive in a shift.

The shift can be economic, health, or just mindset. Let’s face it, few in America look at things the same today as we did 60 days ago. The world has changed, and so must we, regardless of which industry we are in.

If you have a property to sell, visit www.SWFLhomevalues.com, or call Brett or Sande Ellis at 239-489-4042 Ext 4 and we’ll be happy to talk to you about your options. Yes, we’d love to show you how we’re selling properties with advanced marketing we can put to work for you, and we can do this virtually with you as well. We look forward to hearing from you.

See last week’s article “Southwest Florida Real Estate Market Update April 2020”

Ellis Team Weekend Open Houses

Getting a Mortgage Today

New Listing of the Week

5314 Chippendale Cir E Whiskey Creek

It is time for another Southwest Florida market update. It seems everyone I talk to asks how the real estate market is doing during this Coronavirus shutdown. During the last 7 days in Lee County 212 homes came on the market and 301 went pending. 289 closed in the last week. This tells us that we’re pending and closing more homes than are actually coming on the market.

This also tells us that now is a great time to sell. You have less competition from other sellers, and homes are actually selling. This past week our team held 9 virtual open houses. All open houses received over 200 video views and our best one had 3,300+ people tuning in. You might ask how do we get so many people to view our open houses online. We will answer that later in the story.

As you can see from the graphs, inventory levels were falling pre-Coronavirus. In other words, this is not a new trend. More homes have been selling than what is coming to the market. This was indicative of a strong housing market locally and a strong economy. Given the shutdown, we have no idea what shape the economy is in today. What we do know is the housing market has remained strong.

We have official sales numbers through March, and you can see that 2020 was on pace to eclipse the previous 4 years. Some people feared we would lose closings in March as buyers became fearful of the unknown. That scenario did not play out. The question going forward will be how does the disruption affect the market going forward?

Nobody knows for sure the answer to that. Hopefully answers about when states will open back up and to what degree will become clearer soon. What we do know is that it is a good time for sellers right now! It’ always more fun to sell when there is less competition from other sellers.

Buyers still need to buy, and when you see low inventory and buyers buying sight unseen, you know it’s a good time to sell. What will happen when this virus thing is over and all those sellers who did not want to put their home on the market during the pandemic decide to sell? Sellers will have more competition. It does not mean the market will be bad, it just means it may take longer to sell as they’ll have more competition.

Pricing is still a critical component. The market either accepts or rejects the price, and some sellers will never get that point regardless of if the market is up, down, or sideways. Proper pricing is important.

Back to the question about how we drive so many people to our online open houses. It’s all about the marketing. The Ellis Team are Southwest Florida real estate experts at driving traffic, whether it be old-school like print marketing or cutting edge like targeting buyers. Our brand is wide and our reach is deep because we have a large digital footprint to draw from.

If you are considering putting your home on the market today, you want it sold for top dollar and fast. You want to limit the in-person showings. The faster we get your home sold for market value, the better it is for everyone. The Ellis Team digital reach can help you achieve that.

If you’d like to get a quick feel for the value of your home, visit www.SWFLhomevalues.com It you’d like to setup a meeting with Brett or Sande to talk about the market, your home, or your options, we can jump on a video call and talk about it. Simply visit www.Virtual-Listing-Appointment.com and fill out the form, or call 239-489-4042 Ext 4 and ask for Brett or Sande.

If you are thinking of selling, let’s talk about your opportunity today versus waiting and figure out what’s best for you.

Good luck and Happy Selling!

See last week’s article “Virtual Open Houses Sells Homes in a Virtual World”

Check out this weekend’s Virtual Open Houses

Today we’d like to show you how virtual open houses sell homes in a virtual world. People may not realize that real estate is still selling. In fact, I just checked MLS and in the last 7 days 224 homes went pending and 247 homes closed. In fact, more homes went pending than actually came on the market in the last week, and Florida is under a stay at home order.

How is it that so many homes are selling? Top agents are adapting to market conditions. We know some buyers still need to purchase and some sellers still need to sell. The market didn’t go away, even though access and the way we show homes did.

This weekend the Ellis Team is hosting an online virtual Open House Extravaganza. We’ll have 7 virtual open houses this weekend. The neat thing is we can do this during the week too. Our Virtual Open Houses website www.Virtual-Open-Houses.com has links to times and locations of each open house. Each open house will be its own event and also streamed live. The beauty of this is customers can tune into the live stream, and the virtual open house can live on long after as a posted video. If you miss one of our open houses you can go back and watch a previous open house. Virtual open houses sell homes and the Ellis Team wants to be at the forefront of that process.

Who knows what you’re going to see? Because this is live and reality based, you might see some unexpected things. We’re not saying this will become as popular as the Tiger King, we’re just saying you never know. These live events will be streamed on our Facebook page www.facebook.com/Ellisteam as a live event. Check it out or check out our virtual open house page mentioned earlier for a complete and changing schedule.

We’ve been getting hundreds of people attending live open houses. Not only do we get the live views, there are many more views later through shares. Who knows, this may set a new trend in how open houses are conducted.

Consumers also love it when we do a virtual open house from a gated community. They no longer must worry about getting through a gate. Consumers can see if the home and property interests them before deciding to give up time to go visit a gated community.

Our agents are getting better and better. Each home is unique, and the internet or cell phone access can vary greatly by location. They are stepping out of their comfort zone to bring you properties you can see. In addition to our listings we can bring you new developments and new construction homes as well, so stay tuned for all kinds of opportunities.

Perhaps you’ll find a listing you love. Perhaps you won’t. Our agents also show homes virtually through our www.Virtual-Showings.com program. The virtual showings program differs in that we have a virtual meeting with you and listen to what you’re looking for. We then select properties that match your criteria and show those homes to you versus a live stream virtual open house. The virtual showing is sort of like your custom virtual open house only we can do that live or through a 3D tour anytime day or night.

If all this is confusing to you, we’re still available to talk to. If you’d like to sell your home, you should call Brett or Sande Ellis 239-489-4042 Ext 4 and we can show you all the tools we’re using to sell homes today. Remember, 247 sellers closed this past week. It might as well be you.

If you’d like a Free online instant estimate of your home’s value, check out www.SWFLhomevalues.com It’s quick, free, and pretty darn accurate in most cases.

Our team is here to help. Hopefully we’re providing the tools you need wherever you are, in whatever situation you’re in. If you need to talk, we’re a quick phone call away.

Take care and stay safe. This will all be over soon. Maybe not soon enough, but hopefully soon.

See Last Week’s Article “Guided Virtual Showings Program Helps Buyers Tour Homes Safely”

Be sure to check out our video on virtual showings too

Sellers can take advantage of our Virtual Listing Appointment

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