Waterfront Homes Archives - Page 2 of 5 - Fort Myers Real Estate and Homes For Sale

We’re getting a lot of questions from homeowners who don’t know where to turn. Some want to sell but their home has sustained wind or flood damage. Today we like to provide a valuable Hurricane Ian real estate information update to answer some questions.

Insurers are reticent to issue new insurance without an affidavit that the home is free of hurricane related damage. What if the home has wind or flooding damage? Can the home be sold and financed?

Owner Wants to Sell

You may be able to buy a property with damage. Citizens Property Insurance will write coverage on damaged properties as temporary insurance and will simply exclude the damaged items. FHA has a loan called the FHA 203K that will allow a buyer to make repairs after they purchase. In this case we may be able to get a buyer a loan for a damaged home and do the repairs after closing all the while having insurance to satisfy the lender.

Owner Wants to Stay

What if an owner owns a home and it is wiped out or heavily damaged by the flood for more than the $250,000 flood coverage and they have a current mortgage on the property? FHA has another loan program called the FHA 203H that is only available in special disaster situations. It is a 100% LTV loan meaning no equity in the home is needed. The homeowner can finance on top of the current mortgage so they can rebuild or rehab their home without having to sell.

FEMA Resources

FEMA has setup two disaster centers that will help answer insurance type questions as well as tell you what is available through the state and federal government. Cape Coral and Fort Myers are allowing people to setup trailers on their property while their home is being worked on. They may have trailer assistance available for you as well as a plethora of other options.

Forbearance

Your mortgage company may call you with some payment relief options that can help. Be careful though as forbearance options shouldn’t harm your credit score but it will affect your ability to finance another home for 2-3 years. You would think when the government offers a relief program it wouldn’t harm you in other ways, so be careful. If you have a FNMA or Freddie Mac insured loan the forbearance is 18 months and is added to the end of the loan. Interest does accrue. Private lenders might require the interest be paid in bulk at some point, and that might be too much for some borrowers.

Assignment of Claim

We have been successful in transferring the right under a claim to new buyers who are buying a damaged home. This is different that assignment of benefits whereby a contractor takes over the claim for your home. This is especially useful in cash transactions as many mortgage companies will not finance a new purchase with an existing claim outstanding.

Be Leary of Out of Town Contractors

Out of town contractors come here looking to make a fast buck. Some are reputable and are lifesavers, while others simply collect as many deposits as they can and skip town. Dealing with a reputable local company when you can is wise because they have a local reputation at stake, and often times you know where to find them.

FEMA 50% Rule

Many cities will require damaged homes to adhere to new building codes. Naples is just one example. If the cost of improvements or the cost to repair the damage exceeds 50% of the market value of the building, it must be brought up to current floodplain management. See Naples Requirements. Look for Lee County and other cities to enact similar requirements.

Scammers

Be aware of scammers, both online and at your door or on the phone. Not everybody is who they claim to be. Be careful clicking on links. Scammers today are more clever than ever.

Property to Sell

If you have a property to sell, always call the Ellis Team at Keller Williams Realty. We are local and we have trusted resources. The Ellis Team cares about our clients and will do what’s right by you. We are not in it to make a fast buck. You can reach us at 239-310-6500 We’re here to help. If you have questions, we might know where to find the answer for you.

Praise God to all that survived, and prayers for the ones that did not!

Just when you thought you had seen everything, along comes another change in the real estate market. We are seeing SW Florida home builders changing sales tactics again, and it’s not good news for the buyer.

To mimic the success home sellers are having through their Realtor, several home builders have instituted a highest and best offer format on their homes. Basically, it works like this. The buyer makes a binding offer on a lot. There is typically a stated priced however the buyer can offer highest and best. The winning bidder chooses the home they want built and they go to contract.

Buyer Pays the Difference

If the home does not appraise, buyer agrees to pay the difference. Once you bid up the price, you’re buying it regardless of whether you pay cash or finance it. If the buyer is financing it, they will have already been pre-approved to bid on the property and shown financial ability to pay what they are biding.

Previously, home builders have been limiting sales contracts so they could keep up with price increases and maximize profit. Home sellers may have shown builders the way as builders want in on the fun as well. All of this puts additional pressure on buyers because they do not know what it’s going to take to win the bid.

I spoke with a homebuilder who used this in another city in Florida. The lot had a $25,000 stated lot premium and was offered out for highest and best. The winning bidder bid it up to $170,000 and won the bid. They then went to contract with the house on tip of that plus options.

The builders argue that it is not fair to sell to whoever shows up first. They are getting as many as 100 people per day through their model homes. That is 700 per week. If a builder releases 2 lots and calls for highest and best, they now have 700 from this week, and thousands from previous weeks who have seen the property. Builders love this because not only are they raising prices on the house as costs rise, but they are also maximizing value on the total package.

New Construction Prices Will Pull Resale Prices Higher

Rising new construction prices can help pull resale prices even higher when you have such limited supply and strong demand. It used to be when building prices got too high people would switch over to resale and vice versa. Now there is no switching. Buyers must jump on the first home that meets their needs and come with their best offer.

Buyers are not competing with the seller, or the builder. They are competing with other buyers. We have great tools on how to win bids when you are not holding all the cards. These tools help, but they are not an automatic win for buyers in every circumstance. You’ve got to play the cards you are dealt, and a great Realtor can help you play them as best as possible. If you are a buyer, call the Ellis Team at Keller Williams Realty 239-489-4042 or visit www.LeeCountyOnline.com

If you are a seller, you need an experienced Realtor. Buyer agents are trying all kinds of tricks and shenanigans trying to win deals. Some are legit, and some are not. An experienced agent can keep you from going down the wrong path with the wrong buyer. If something doesn’t seem right, you need an agent with experience to sort that out.

Getting Top Dollar For Your Home

With builders changing sales tactics, so too must home sellers. There are additional ways to maximize your sale price. Brett and Sande Ellis know how to do this as well. If you are looking for Top Dollar, call Brett or Sande Ellis 239-310-6500 or visit www.SWFLhomevalues.com to see what your home is worth.

Do you know what your home is worth? If you haven’t checked in the last week, then you really don’t know.

We have many happy home sellers that are glad they called the Ellis Team at Keller Williams Realty. Let’s talk and see if we can help you too!

Ellis Team Open House

Cape Coral Waterfront Pool Home Sat 12-3 PM

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

The latest news release from Florida Realtors show Lee County Florida home sales down 6.8% in April but still up from 2016 and 2017 levels. We are seeing increasing inventory and time on the market, and home prices are flat. Total dollar volume of sales was down 12.3%, so we’re definitely experiencing a shifting market.

Lee County Florida April Home Sales Down 6.8% — Lee County Florida April 2019 Home Sales Down 6.8%

How you look at the market might just depend on your expectations. If you look at it over the last 4 years, this is the 2^nd highest rated market. You can also look at it as down versus last year, and the fundamentals propelling the market are down as well.

So where do we go from here? A lot of that will depend on the economy, interest rates, and consumer sentiment. Right now, consumer confidence is fairly strong. Interest rates have declined, and the economy is doing well. The wild cards right now are the trade wars and their effects on the overall economy moving forward.

Trade between Mexico and Canada has a chance at improving significantly depending on if congress passes the latest revision to NAFTA. Trade with China has the potential to increase drastically or go South in a hurry. Long term it’s in our best interests to hold tight, but there is pressure on farmers and retail to wrap it up sooner rather than later. There could be long-term winners and short-term losers in that deal.

We don’t control what happens in the future. What we know is many want to buy here, and many want to sell. As in any market, the trick is pricing homes at today’s market and then marketing the home so as many prospects as possible see it.

One of the best websites to search for properties is www.LeeCountyOnline.com It’s great because it’s updated in real-time and includes all the listings. Additionally, there are neighborhood market reports, so buyers and sellers can get an idea of what’s going on at the neighborhood level too.

Memorial Day weekend is a great weekend to enjoy the outdoors. It’s going to be hot. Perhaps you’re looking to purchase a home with a big back yard so you can entertain friends and family, play games, and enjoy some BBQ on the grill. Perhaps you’re looking for a pool home in this hot weather. Or you’re looking for a waterfront home or condo so you can go out on the boat right from your back yard. We’ve got it all on our website.

And if you’re looking to sell, we can give you a free online estimate of your home’s value. Simply go to www.SWFLhomevaues.com and it will show you instantly. Or call Brett or Sande Ellis 239-489-4042 Ext 4 Many buyers need to sell their home first, and that’s where we can help. We can time it, so we sell your home and find you a property to purchase as well. All this takes coordination with the lender, title company, and the next home you’re purchasing. We handle all the details for you so you can enjoy the process.

So, this weekend go out and enjoy the outdoors. When you’ve had enough sun and heat, check out our websites and search for the next home that will meet your needs better. We’ve even got boat clubs we can recommend, which might save you some money. Some buyers elect to go this route and not buy a waterfront home and still enjoy the fabulous boating we have here in SW Florida. Others want that boat right at their house. Either way, we can help.

Stay safe, enjoy the weekend, and Happy House Hunting!

Ellis Team Weekend Open Houses

Open House Saturday 1-4 PM

1742 Ardmore Rd

$273,240

Open House Sunday 12-3 PM

3681 Gloxinia Dr

$225,000

Open House Sunday 1-4 PM

914 El Dorado Pkwy E

$925,000

Open House Sunday 1-4 PM

14528 Aeries Way

$450,000

The Ellis Team was supposed to have a closing December 31. We represented the seller. The buyer selected a lender from CA who gave a pre-approval letter. It turns out, the buyer had no chance of closing with that lender. They said they were just waiting on IRS tax transcripts, and since the government was shutdown, they had to put the loan on hold. So, even with IRS transcripts, the loan would never have closed under the program they selected. Has government shutdown affected mortgages and closings?

Upon missing the closing date, we decided to get a lender we use regularly involved. The buyer agreed, as they wanted to buy the home. Our lender looked at the file and said they would not qualify, even if they added a co-borrower. However, if we switched them to an FHA loan, we’d have a chance as they are more forgiving on loan ratios.

Many lenders cannot do a FHA loan with a government shutdown. Many lenders can’t do a loan without an IRS transcript. We were able to get an FHA loan in 13 days, bypass the transcript issue, and get flood insurance, all during the government shutdown. How did we do it, and in 13 days nonetheless?

It took some hard work on everyone’s part, especially the lender. We worked with a direct endorsement FHA lender who does not need an FHA underwriter to approve the loan. Secondly, they made this loan a priority for us. Lastly, we had the buyer assume the seller’s flood policy, so we were good to go, even amidst a government shutdown. Both buyer and seller were ecstatic. We could not have done it without the help of our lender, title company, and a buyer and seller working together to make it happen.

Has Government Shutdown Affected Mortgages and Closings

So, let’s give you an update on how the government shutdown is affecting other real estate closing throughout the country.

Flood Insurance – FEMA announced on December 28^th that they would resume selling new policies and issuing renewals again.

IRS Tax Transcripts- Many top lenders are waiving IRS (4506-T) tax transcript verifications to fulfill a loan as they are unavailable now.

Nationally Realtors say that 9% of transactions involve a federal employee and the transaction is on hold. 13% have been impacted by the transcript issue, although there are workarounds for this with certain lenders.

The bottom line is the government shutdown isn’t having a huge impact on closings yet. Any disruptions in closings can have a large impact on the overall economy as real estate generally impacts about 32% of GDP.

In uncertain times it pays to work with real estate professionals and lenders who have a track record of solving issues as they pop up. Good Realtors know who the good lenders are.

Rising Inventory

Inventory has been rising, so selecting a professional who will market your home and make it stand out is important today. Hopefully that same agent also knows how to get the home closed once they find a buyer, because in a rising inventory environment, you never want to have to sell the home twice. It pays to get the home closed the first time.

If you’re looking to buy a home, give our team a call. We can get you pre-approved and get your home closed. Just because a lender approves you doesn’t mean they can close you. Experienced agents know that a mortgage pre-approval does not mean you have a guaranteed closing. We can get you working with a lender with a track record of closing loans.

If you’d like to search for your dream home, check out www.LeeCountyOnline.com It has all the homes on the MLS, and it’s updated every 5 minutes. No more missing out on hot new properties because the site you’re using doesn’t have it.

If you’re thinking of selling your home, always call Sande or Brett Ellis 239-489-4042 Ext 4. Brett and Sande handle the listings on the team. Let us show you how our marketing will set you apart and get your home to the closing table.

Good luck and Happy Selling!

Ellis Team Weekend open Houses

There is much debate about the local SW Florida real estate market and whether it is shifting. Experts speculate that it might because of everything from rising interest rates, rising prices, housing declines up North, to climate change. This makes selecting correct listing agent critical when market shifts even more important, which we’ll discuss later on.

One of the factors some experts look at when evaluating the market is housing inventory. New listing inventory numbers were just released, and we noticed a few things. First off, new listings increased 11% in October over 2017 new listings. Secondly, current listing inventory stands at 5,823 which is 17.9% increase over last year. So, what is causing this inventory buildup, and what can we do about it?

Inventory buildup is caused by several things including rising rates, decreasing home affordability, and false expectations. Sellers read that home prices are up 2.9% over last year, so they add 2.9% to the figure they thought their home was worth last year, and voila, they have a number. Different homes appreciate at varying rates, just like certain neighborhoods appreciate at different rates than others due to location, age, the finances of the association, amenities, etc.

Most sellers believe we have a runaway market while many buyers are fearful that prices are too high and should come down. The truth is both could be right, and both could be wrong, depending on the price range, neighborhood, and other factors.

Selecting Correct Listing Agent Critical When Market Shifts

In a shifting market, two things sell homes. Marketing and Price. Sometimes a correctly priced home won’t sell or won’t sell for full value if it isn’t marketed well. However, history is littered with examples of overpriced merchandise that won’t sell no matter how well it’s marketed. Marketing and pricing go hand in hand.

Other factors influence showings, like pet smells, kitchen and bath updates, the general condition of the property, etc. It all comes down to price though. What you have in it doesn’t necessarily affect value. For instance, I was in GA at a real estate conference and they drove me by Evander Holyfield’s home. I think they said it was a $30 million home to build, and it was in an area of acreage and homes worth a few hundred thousand dollars. If Evander would have sold that home back then, there is no way he’d get $30 million, even though he may have had that much in it. Who would buy it?

While that’s an extreme example, the same principal holds true. Cost does not equal value. If you want to sell, we must determine what the market is willing to pay. It doesn’t matter how much you have in the home, how much you need to buy your next home, or how much you owe. It’s just worth what’s it worth at this point in time.

Some sellers decide to wait until it goes up in value. That’s fine if they realize it could go down in value too. And, while they’re waiting for their property to go up in value, the thing they were going to buy with their proceeds might go up in value too. What if it goes up faster than the home their waiting to sell? They lose money by waiting.

We’re not here to talk sellers into anything or convince people to sell. We do offer common sense solutions, and present ideas for them to keep in mind so they can make the best decision for their finances. Buying and selling can be emotional, so they tend to have knee-jerk reactions. Once buyers or sellers get an idea in their head, it’s hard to come off that. That’s where a seasoned professional with years of experience comes in.

It’s one thing to know the market, and it’s another to know how to deliver information to buyers and sellers in a format they can digest to make good decisions for their family. If you’re thinking of buying or selling, call Sande or Brett Ellis 239-489-4042 and we’ll help you with your questions, or go to www.SWFLhomevlaues.com to find out your home’s value for Free online.

Good luck and Happy Selling!

Ellis Team Weekend Open Houses

Open House Sunday 12-3 PM

7152 Reymoor Dr

While many agents in SW Florida are complaining about lack of closings the numbers just do not bear this out. Statistically average sale prices are about what they were in the boom of 2005 and early 2006, and 2018 single family homes closings almost at boom levels as well.

Back in 2005 we had 12,273 single family closings. In 2017 we had 12,356, and 2018 is on track to beat that. The peak for closings was between 2009-2011 when prices were a lot lower. Today we have peak level pricing and high levels of sales.

Looking at the single–family homes sold chart shows 2018 neck and neck with 2015 levels, which was a very good year. We ran Year to Date numbers and discovered 2018 is just 16 closings shy of the 2015 pace. When we look at real estate pricing along with months supply of inventory, we realize the 2018 real estate market is doing very well.

Back in July 2015 the months supply of homes was 3.8 months. July 2018 it stands at 4.9 months. Anything below 5.5 months is considered a seller’s market. The median price in 2018 stood at $255,000 and the average stood at $350,566. Back in July 2015 the median sold price was $209,830 and the average stood at $326,883. In 3 short years that’s a 21.53% rise in median price and a 7.25% rise in average prices.

Real estate agents tend to report on how the market is doing in direct relation to how their business is doing. This is not a good way to judge the market as shifts in market share can affect your production, and not necessarily the market. The average agent does less than 1 deal per year. The average full-time agent may do less than 7 deals per year. If an agent’s production goes from 7 deals one year to 4 deals the next, it might feel like a drastic market change has occurred to that agent. The reality is maybe their marketing isn’t working like it used to, or maybe they’re not working as hard or as efficiently as before. Neither scenario is a good market indicator.

Our team consistently sells over 100 homes per year. This year our goal is 225. Because we’re big advertisers, our homes sell fast and for top dollar. Large teams like the Ellis Team may siphon off more deals from single agents which cuts their production to less than last year’s levels. In this case, it feels like the market isn’t as strong, and they honestly tell this to their clients because that’s their experience.

It pays to study the numbers. Agents should study their numbers and compare them to the overall market. In doing so they’re much more likely to spot actual trends in the market and rely less on feelings and estimates.

We’ve been studying the market for decades, so we know when the market is on the move. Getting Top Dollar is a function of knowing exactly where the market is, and quite possibly where it’s heading. The only way you can do this is to know exactly where it is and exactly where it’s been. Experience and market conditions fill in the blanks from there.

Whether you’re buying or you’re selling, you need to know this information. Make sure you’re working with an agent that studies the numbers. If you’re considering selling, call Brett or Sande Ellis 239-489-4042 Ext 4. If you’re in the market to purchase, our team can help you too.

For a free computer analysis of your home’s value, visit www.swflHomeValues.com We have an app that has all the open houses every weekend. If you’re interested, give us a call.

Always call the Ellis Team at Keller Williams Realty! We’re here to help, when you need us and how you need us.

Ellis Team Weekend Open House

Open Saturday 1-3 PM

The month’s supply of SW Florida real estate inventory supply declined in July from April levels. There are many reasons for this which we’ll go into detail.

Sellers are listening. Buyers’ motivation topped out about 9 months ago and sales suffered. We’ve seen instances in the past where buyers were at one level, and sellers were at another level, and there was a standstill. The longer the standstill, the longer homes sit on the market and inventory grows.

This time around, word got out and sellers didn’t want to be caught holding the bag. They made the adjustments quicker, and it’s paid off. Sure, nobody is happy to reduce their asking price. Without movement, nothing would happen. If a seller’s true desire is to sell, then you’ve got to find that price point where price equals value in the market’s eye. It looks like sellers have been doing that.

For the most part, inventory has declined, and sales have increased. Inventory declined in all price ranges in Lee County Florida. Closed sales increased in all price ranges except the less than $100k and $100-150k ranges. This decline could simply be a matter of not as much inventory to sell, therefore not as many closed sales. With months supply of 1.25 months or less, it’s hardly worth mentioning except to be factual.

Buyers should take note. You’re no longer in the driver’s seat. With 4.57 months’ supply of overall inventory we’re back to a seller’s market, statistically speaking. Sellers, don’t get too excited either. It really depends on which price range your home is located. Once your home crosses that $300,000 threshold you enter neutral to buyers’ market territory. If you’ve got a home that’s been on the market awhile, it’s probably time to adjust to where the buyers are.

If you’re a seller priced under $300k and your home is not selling, there is a problem. An immediate adjustment may be in order. If it is priced correctly, it should be getting action. We tell sellers we should be getting offers about every 4-5 showings. If we’re getting showings and no offers, the marketing is working. The price or condition isn’t. If a seller isn’t getting showings, it’s either the price or the marketing. It could be both.

As a seller, you’re really in charge of two things. Setting the correct price and selecting the best agent. Mistakes in the MLS, bad photos, or lack of marketing muscle can be a turnoff to buyers or make your listing invisible. We’ve seen lack of good marketing cost sellers a sale, or thousands in their pocket at closing because they didn’t attract the highest and best buyers for their home.

If your home is overpriced, you’re just adding to the marketing time and kidding yourself. Typically, in the end you’ll end up taking a lower price than you otherwise would have had you priced it correctly upfront. If your agent recommends taking action on price, listen. If you aren’t having that conversation with your agent, perhaps it’s time to be proactive. Perhaps your agent recommended a lower price at tie of listing, but you were stubborn or convinced it should be higher. Perhaps your agent has recommended price adjustments and you’ve declined. Whatever the case, ultimately, it’s on you as the seller.

If you decline your doctor’s advice, the results are on you as the patient. If you decline your attorney’s advice, the results are on you as the client. The same is true in real estate. It’s your home. If you’re OK with owning it and not selling, then that’s fine. If you’re not OK and would like to move on, it’s time to adjust. It’s either the marketing or the price.

If your home has expired, or if you’re considering putting your home on the market, perhaps it’s time to get a 2^nd opinion. Always Call the Ellis Team. We specialize in getting homes sold the 1^st time. We’d be happy to look at your home and figure out what we can do to sell it. 239-489-4042 Ext 4 or www.LeeCountyOnline.com Ask for Sande or Brett Ellis.

Ellis Team Weekend Open Houses

Open House Saturday 1-3 PM

13460 Marquette Blvd

Open House Sunday 1-3 PM

1462 Claret Ct

Everybody seems to agree that the best negotiations are when it’s a win-win situation for buyer and seller. And yet, most buyers and sellers negotiate from a win-lose proposition. Everybody wants to win, and they don’t care if it’s at the expense of the other party. Furthermore, if the other party doesn’t lose, some people don’t feel as if they’ve won. They feel like they left money on the table. New program helps sellers net more money at closing and buyers save more money too at closing.

Other buyers and sellers are just happy to get a deal done that works. Perhaps a financed buyer would love to purchase a home but keeps getting beat out by cash buyers or other buyers putting more down. Other buyers have the down payment saved up; they just don’t have the closing costs saved on top of it.

Typically, a buyer might ask for the seller to pick-up and pay for some or all the buyer’s closing costs. Not out of greed, rather out of necessity. This costs the seller money to do this. If the home appraises at the higher price, they could have sold to someone else and not paid their closing costs. It’s a way to put a deal together, but if the seller has other options they usually choose the other option.

What if the buyer needs help with closing costs and the seller didn’t have to pay it? The seller could keep the sale at full-price and net all the proceeds. The buyer wouldn’t have to pay them either. So, you might ask, if seller isn’t paying, and buyer isn’t paying, who is paying?

What if lender fees didn’t need to be paid at all? What if they weren’t charged? We’ve seen some lenders who don’t charge lender fees and they make up for it in a higher rate. In that case, the buyer ultimately pays. We’re talking about a low rate without higher premium and no lender fees. Add in a closing credit to the buyer, and you’ve got the best of both worlds.

Win-Win

This is taking win-win to a new level. Even for buyers who don’t need help with closing costs, this is a win. Anytime the buyer can save thousands in closing costs it’s a win. The cost savings may help the buyer purchase more house, which may make the difference between getting that extra bedroom or family pool. We’re able to help buyers qualify for more home which brings more buyers to the table for sellers.

Sellers not only benefit on the sale of their home, we can also offer this to them on their next purchase. Sellers save money by not having to pay for buyer closing costs, and they can save money on their next purchase. Imagine saving $5,000 or more on your next loan.

So, what’s the catch? No catch really. Not everyone can offer this. If we’re the listing agent, we can offer it to the buyer, no matter who the buyer is working with. If you’re the buyer, you must work with a Keller Williams Realty agent. It’s pretty simple. Loans close on-time, buyers save money, and sellers win too because they get to keep more money at closing.

Buyer saves money, seller saves money, and everybody wins. Now that’s a deal that’s hard to refuse, and why would you? Simply give us a call at 239-489-4042

Feel free to search the MLS like a pro at www.LeeCountyOnline.com When you find something you like, give our agents a call and we’ll get you on your way to your dream home. Better yet, let’s get you pre-approved upfront. That way you can go shopping knowing you’ll save money, close within 30 days, and your offer will more likely be accepted because you’re approved, not just pre-qualified. If you’ve got questions, give our team a call. We’ll be glad to help!

Ellis Team Weekend Open Houses

Danforth Lakes Open House Saturday 1-3 PM

Whiskey Creek Open House Sunday 1-3 PM

Cape Coral Waterfront Condo Open House Sunday 1-3 PM

As real estate agents I think we tend to forget that people really don’t know how to sell their home. What seems basic to a veteran agent is not basic to all, and even many newer agents don’t know all the best tips. We decided to cover 8 seller mistakes when putting home on the market.

Don’t be present for showings. If you absolutely must be home for showings, don’t say a word. Take a walk, drive around the block, or anywhere you can to avoid conversation with the buyers. Sellers believe they know their home better than anyone; therefore, they can sell it better than anyone. Be aware of the $1,000 rule. Practically every word you speak to the buyers costs you $1,000. I’d say try it, but it’ll cost you.
Don’t photograph everything. There is no rule you must provide a photo of everything. Leave a little to the imagination. Make them want to get inside and see everything. Most bathrooms don’t need to be photographed, unless they are spectacular, stand out, and are a selling feature.
Set correct listing price and negotiate firm. You’ll get a better sales price if you set the correct list price. Overpricing drives buyers away. You’re not going to fool a buyer today, so you might as well price correctly upfront. Buyers typically don’t want to insult a seller, so they just move on to other better values. Or worse yet, they never view inside of your home because it’s not on their radar.
Select the best agent to market your home, not the least expensive. Selecting the least expensive can cost you thousands. It’s not what an agent charges that matters, it’s what ends up in your pocket at closing. All Realtors are not the same. Some agents sell homes faster and for more money. Enough to cover the difference in rate, and then some.
Make your home accessible. We live in the online age. People expect fast access, both online and in person. Some buyers are buying today and won’t come back tomorrow just to see your home. By the time your home is available and picked up, they bought something else. It just repeats with the next buyer.
Check with your condo or HOA. There are many required disclosures and documents you must pass on to buyer at contract. Failure to do so can cost you a sale. Get these documents upfront. It’s a pain, but you’re going to have to do it anyway, so don’t lose a buyer and get them now.
Disclose defects. Better yet, repair problems so next buyer doesn’t have to deal with it. Most buyers want a problem free home. They want to move in and not have to repair a bunch of things. Their time and budget is stretched enough, and having to repair other peoples’ existing issues kind of takes the fun out of home shopping. If you don’t want to do the repair, chances are you next buyer may not either.
Market your home everywhere! Newspaper, online, social media, etc. Make sure your home is target marketed to home buyers looking for what you have. Throwing a sign out there and posting on an online site won’t cut it. Everyone does that. You want to stand out.

Wish we had more room. If you’re thinking of selling, always call the Ellis Team. We’ll go over our entire list and expose your home to more people. Call Sande or Brett Ellis 239-489-4042 Ext 4 To search the MLS like a pro, visit www.LeeCountyOnline.com

Don’t forget to vote us Best Real Estate Team in SW Florida in News Press Reader Poll. www.Bestswfl.com

Ellis Team Weekend Open Houses

Open House Sunday 1-3 PM

Reflection Lakes 5 Bed 3 Bath Pool Home on Lake

Large Reflection Lakes Pool home priced to sell and ready to go

13994 Reflection Lakes Dr

Open House Sunday 1-3 PM

Bella Lago 4 Bed 3 Bath Pool Home

3 Car Garage, kirkland garage door service installed the door, Granite Counters, and more

19790 Maddelana

Open House Sunday 1-4 PM

Cape Coral Direct Access Waterfront Pool Home

Direct Access Cape Coral Waterfront Pool Home

1933 SE 36th St

Owner Wants to Sell

Owner Wants to Stay

FEMA Resources

Forbearance

Assignment of Claim

Be Leary of Out of Town Contractors

FEMA 50% Rule

Scammers

Property to Sell

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Buyer Pays the Difference

New Construction Prices Will Pull Resale Prices Higher

Getting Top Dollar For Your Home

Ellis Team Open House

Cape Coral Waterfront Pool Home Sat 12-3 PM

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Ellis Team Open House

Open House Sunday 1-4 PM

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Ellis Team Weekend Open Houses

Open House Saturday 1-4 PM

Open House Sunday 12-3 PM

Open House Sunday 1-4 PM

Open House Sunday 1-4 PM

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Has Government Shutdown Affected Mortgages and Closings

Rising Inventory

Ellis Team Weekend open Houses

Open House Saturday 1-3 PM

Open House Sunday 1-3 PM

Open House Sunday 1-3 PM

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Selecting Correct Listing Agent Critical When Market Shifts

Ellis Team Weekend Open Houses

Open House Sunday 12-3 PM

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Ellis Team Weekend Open House

Open Saturday 1-3 PM

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Ellis Team Weekend Open Houses

Open House Saturday 1-3 PM

Open House Sunday 1-3 PM

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Ellis Team Weekend Open Houses

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Ellis Team Weekend Open Houses

Open House Sunday 1-3 PM

Open House Sunday 1-3 PM

Open House Sunday 1-4 PM

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