Virtual Listing Appointment Program to Safely List Your Home

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The Ellis Team is introducing our virtual listing appointment program to safely list and sell your home. People still need to buy and sell property, but in today’s social distancing environment meeting people isn’t always a good idea.

For years we’ve used various technologies to bring a consumer experience to the buyer.  We’ve adapted to bring this same experience to the seller, with a few new twists.  Our website can be found at www.Virtual-Listing-Appointment.com

Virtual Listing Appointment Program to Safely List Your Home

How the Virtual Listing Appointment Program Works

The first step is a virtual listing consultation with Brett or Sande.  We’ll discuss your situation, what you’re trying to accomplish, where you’re going, and what your ideal timeframe is.  We can do all of this with an online video conference we’ll setup for you.

Next, we can do a virtual walkthrough with you.  On your phone you can show us the house using our video conferencing application.  If you don’t have internet at the home, we can do this through photos and other methods.  Brett and Sande can discuss comparables and market conditions with you on the video conference just as if we were meeting in your home or at our office.

Once you feel comfortable and make the decision to place your home on the market, all listing documents can be signed electronically by e-signature.  We have the software to do that as well.

3D Virtual Tour

3D Virtual Tours

The Ellis Team then springs into action.  We hire a professional photographer to photograph your home and do a 3D virtual tour of your home.  This allows us to setup online showings via our websites and 3D tour solutions for buyers.  Our team has sold several homes over the years sight unseen online.  We can do the same for your home.

Some buyers will purchase via virtual tools, and some will not.  At the very least, we can eliminate a lot of shoppers.  Most all buyers love the technology and can narrow down their choices online.  In this way we’re helping sell our listings and reducing the foot traffic in the home.  It doesn’t do a lot of good having 100 showings to find one buyer.  Now we create the online showings and still find the buyer.  If we can cut the actual showings down significantly and still sell the home, we’ve made the selling process safer for buyers and sellers in the process.

Virtual Open Houses

Our team holds virtual open houses.  This is another way we can cut down on people entering your home and potentially spreading the Coronavirus, the flu, or any other germs.

Ellis Team buyer agents can also do virtual showings with buyers.  Let’s say the virtual tour or online photos don’t address all the buyer’s questions.  Instead of setting up showings and bringing buyers through your home, our agents can go to your home a do a video walk-through guided by the buyer.  The buyer sees exactly what they want to see and gets all their questions asked, and the seller doesn’t have a large group of people going through their home.

Sellers also appreciate that with less showings, the home doesn’t have to be stage ready at a minute’s notice every day.  By having the home show ready on day of photos, it takes a lot of pressure off keeping home show-ready every single day.

Once we list a home, we can continue to host virtual meetings with our sellers.  We can provide listing updates, walk through the MLS together, and present sales contracts.  Our technology brings us closer together than ever before.

The Future of Real Estate

And who knows, this may become the Future of Real Estate.  A crisis like this forces us to adapt, and by thinking out of the box we may have created a better way to communicate with our sellers on a consistent basis.  Now we can have scheduled virtual meetings anytime, just as if we’re sitting together in your living room.  Put the virtual listing appointment program to work for you.

If you’re thinking about selling, Always Call Brett or Sande Ellis 239-489-4042 Ext 4 or visit www.Virtual-Listing-Appointment.com

See last week’s article “Coronavirus Changing Real Estate Transactions“

Coronavirus Changing Real Estate Transactions

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The world as we know it has changed, at least for a few months.  Today we’d like to talk about how the Coronavirus changing real estate transactions affects consumers and what needs to happen going forward.

Let’s face it, people are scared about their health, job, economy, etc.  This virus is scary and causes us to feel a loss of control.  We as humans like to control our destiny and protect our family.  We also know some buyers need to buy, and some sellers need to sell.

What can be done to alleviate fears, calm anxiety, and still allow for real estate transactions to occur.  We’ve come up with some strategies to help our customers who want or need to make a move while all this virus stuff is going on.

One of the things we do is create 3D tours of our listings so buyers can walk through a home virtually.  We also use professional photos to make the home look as real as possible to a potential buyer online.

The second thing we’re doing is creating virtual staging. Let’s say we have a buyer out of town, or local but trying to eliminate the number of homes they enter.  Our agents can setup a virtual showing whereby we show the home on video and walk-thru.  Buyers can ask questions and have us go back and show them certain things on video in real-time.  We’ve had several buyers purchase homes using this technique without ever having to visit the home in person.  We can video the back yard, neighborhood, amenities, etc.  Anything the buyer wants to see in person we can do online.  We also have some video walk-throughs  like this one at 19694 Villa Rosa Loop in Estero.

We offer online mortgages too with zero-lender fees.  This speeds up the lending process and requires no human interaction in person.  Our team uses electronic documents as well, so customers can sign purchase or listing agreements, required disclosures, and all necessary paperwork electronically.

We now have a mobile app that let’s customers view properties anywhere in the country.  Simply go to www.mobilesearchapp.com and search away.  Be sure to select Brett Ellis as your agent.  The app shows you how much you’ll save with the zero-lender fee option, as well allow you to search at the neighborhood level, not just the city and zip code level.  Just type in a neighborhood and you’re good to go.  It will also show you nearby open houses.

Coronavirus Changing Real Estate Transactions

Video conferencing is a nice option to meet with your agent and discuss your needs.  We can share our screen so you can see items on a contract or MLS printout, or simply talk face to face without any risk of transmitting or receiving Coronavirus.

The bottom line is just because the world is going through a health scare doesn’t mean you have to give up on your real estate needs.  If you have a lease expiring, your landlord may not care that you don’t have a place to go.  We’ve got to find alternative ways to accomplish our goals.  The restaurant industry is adapting by offering drive thru, takeout, and delivery service.  The real estate industry must adapt as well.  In fact, this could become a model going forward.

We posted a video on our YouTube channel www.youtube.com/brettellisfl about how we’re changing to meet the needs of our customers.  The current situation demands it.

We also created a Real Estate Coronavirus Mastermind Task Force for top agents to meet and discuss ways to help buyers and sellers conduct transactions in this challenging time.  Buyers and sellers have needs, and we want to deliver results in a safe way for our clients and our families as well.  Together we’ll weather the storm, and who knows, we might even create a model to more efficiently and safely sell homes in the future. As we study the effects of Coronavirus changing real estate transactions, we’ll constanly provide solutions to meet those challenges.

If you’d like to talk to Brett or Sande, give us a call at 239-489-4042 Ext 4.  We can setup a video conference with you as well.

Good luck, stay safe, and Happy Home Buying and Selling if you’re in the market.  We’re here to help if you need an agent with experience working through challenges like this.

See last week’s article “Real Estate Inventory Supply Tightens in SW Florida Since December”

Real Estate Inventory Supply Tightens in SW Florida Since December

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Real estate inventory supply tightens in SW Florida since December with current supply standing at 4.20 months.  Back in December the number stood at a 4.43-month’s supply.  It’s interesting, because everyone believes inventory levels are falling.  That is a true statement, but inventory levels only fell 58 homes since December.

Real Estate Inventory Supply Tightens

Real Estate Inventory Supply Tightens in SW Florida

The bigger story is 535 more homes sold in the past 365 days than the past December’s last 365 days.  This tells us home sales are on the uptick.  We’ve been preaching how low interest rates are causing more people to purchase, and that is also true.

So basically, we’ve seen 535 more sales combined with 58 less homes.  These two factors caused the month’s supply to drop to 4.2 months.  Could there be more to the story?  Let’s dig a little deeper.

Inventory Levels Rise Above $300k

We saw inventory levels rise in all ranges above $300k.  The good news is sales rose in those ranges as well to help offset that.  When we analyze each price range, we discovered the month’s supply of inventory grew in the $600k-$1 million range, and the $100k-$150k range.  The differences in each range are minuscule.

We have a healthy market, and if a home is priced correctly and marketed well, it should sell.  If a home is not selling and being marketed, it means the market is rejecting the price and it must be lowered to meet where the buyers are.

Some homes are priced correctly, and they’re just not marketed.  In that case, the seller will never know if it’s the price or the marketing.  If it is marketed well, sometimes the seller refuses to accept that they want more for their home than the market will bear.  They’ll typically say things like “You’re not attracting the right buyers”, or “They aren’t buyers, they’re just lookers and can’t qualify for my home.”  They’re often shocked to find out those buyers went and bought another home that was a better value.

Buyers don’t care what a seller needs for their home.  They only care about what’s best for their family.  Sellers should understand this because they were the same way when they were purchasing.

Agent’s Role in Transaction

A real estate agent’s job is part analyst, part psychologist.  We must uncover the true motivations for each buyer and seller and determine what is most important.  If they truly want a different home but are holding on too tightly to the home they have, perhaps they’re not as motivated to move as they thought they were.

We have a really good market right now.  It’s a good time to sell because buyers are out there, and rates are affordable.  Low interest rates are beneficial on the sell side because more people qualify for the home than they did when rates were higher.  It’s also beneficial when that seller turns around and purchases the next home if they’re getting a mortgage.

We’re telling people it’s not a bad idea to get a mortgage even if they were considering paying cash.  It’s almost free money at this point if they qualify, and we can help get buyers a loan with zero lender fees at market rate without paying a premium.

Neighborhood Info

If you’re a seller and would like a neighborhood snapshot of your home, simply email me at Brett@topagent.com with your name and address and I’ll set you up on a system that will email you updates on your neighborhood. Or, you can signup at ellisteam.kw.com and put in your neighborhood.  The site will show you all the homes for sale along with neighborhood statistics.

Our mission is to provide you with information the easiest way possible.  Your search for information should be easy, not complicated.  And if you need some wisdom and counseling about the process, we’re here to help with that too.

We’re here for you whatever step you are in the process.  You might just be starting out, you might be interviewing agents for a home you’re considering selling, or your home may have expired, and you want to switch agents.  Please call Brett or Sande Ellis 239-489-4042 Ext 4, use our website, or email us and we’ll be glad to help.

See last weeks article “Once in a Lifetime Opportunity”

Coronavirus Update on How Real Estate is Sold in SW Florida

Once in a Lifetime Opportunity

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I had other subjects I intended to write on for this week’s article.  However, when a once in a lifetime opportunity presents itself, it becomes newsworthy and a story worth telling.

Two weeks ago we mentioned how interest rates and inventory will shape this real estate market for 2020.  Last week we talked about Coronavirus and its possible impact on the market.  This week it’s a combination of both, and what the once in a lifetime opportunity is and how to take advantage of it.

Once in a Lifetime Opportunity

Because of Coronavirus, the financial markets have been lowering the yields on the 10 yr Treasury note in a flight to quality.  The Coronavirus brought global recession fears as business and travel would surely slow due to the virus.  Money fled out of stocks and into treasuries.  The Federal Reserve was forced to have an emergency meeting and lower the fed funds rate.

30 yr mortgages are not tied to what the fed does.  They are more closely tied to the 10 yr yield.  As a rule of thumb, you can add about 2 percentage points to whatever the 10 yr yield is and that’ll be close to current mortgage rates.

10 Year Yield Hits Historic Low

Once in a Lifetime Opportunity

An interesting thing happened this week.  The 10 yr yield went down below 1% for the first time in history.  When we add 2% to the 1% yield, we get 30-year rates about 3% or less.  So, what is the once in a lifetime opportunity?

Buyers today can get a new mortgage at some of the lowest rates in history.  It’s not free money, but it’s close enough for conversation.  Every 1% drop in interest rates provides about 11% more purchasing power for a buyer.  We’ve seen rates drop about 2% in the past year, so that’s about 22% more purchasing power for buyers.

Put another way, this also brings more buyers to the table.  So if a buyer was having a hard time finding a decent property in their price range, they now qualify for more.  Buyers may be able to go up in price range and get that home they wanted, and the monthly payment won’t cost them any more than it would have 6 months ago.

Sellers: Time to Stay or Time to Go

Homeowners could choose to refinance their home.  Saving money each month would allow them to buy that dream home in Florida or save for retirement.  All that extra monthly savings will somehow get reinvested back into the economy, which could fuel our economy into the future, long after this virus business has passed.

We have an open window right now.  Nobody knows how long the window will stay open.  We have several lenders we work with that offer little to zero lender fees, so now may be your once in a lifetime opportunity.

If you’re a seller and unsure whether to refinance your home or sell it and buy a new home, call Brett or Sande Ellis 239-489-4042 Ext 4 and we can look at your situation.  We also have a Free home valuation tool that will give you an approximate home value online instantly.  Simply go to www.SWFLhomevalues.com to get your free analysis.

The Ellis Team has a team of buyer specialists to help guide you through this once in a lifetime opportunity. We know you have questions.  We can help answer real estate questions as well as help you with some lending options that might make sense for you.  If you’re not sure if you qualify, that’s OK.  Let’s get you with a professional and find out.  It’s free to find out, and we’re here to help.  Be sure to ask about our zero-lender fee mortgage available to our customers.

If you’re a seller, be sure to ask for Brett or Sande.  This is a once in a lifetime opportunity, so we want to make sure you make the best decision for your family. If you’re thinking of buying and would like to search the MLS like Realtor’s do, go to www.leecountyonline.com

Good luck and Happy House Hunting!

See last week’s article “Coronavirus Impact on Real Estate Nationwide and Locally”

Coronavirus Impact on Real Estate Nationwide and Locally

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People are talking and wondering what effect the Coronavirus will have if it comes to the US.  We should prepare for and expect that it will as it is spreading across the globe, and we are not immune no matter how hard we try.  Today we’d like to focus on a potential Coronavirus impact on real estate.

Let’s talk about what we know first.  From a health standpoint, the death rate appears to be about 2%.  Most people experience cold and flu like symptoms which might persist a bit longer than a cold.  The flu death rate was about .1%.  In 2018 61,200 people died from the flu, while about 42.9 million people were infected.

While Coronavirus appears to be very serious, it’s not something to freak out about.  We can try to slow it down, but if it reaches pandemic status it will come. The young and the old are most at risk, like many illnesses.

What Will be CoronaVirus Impact on Real Estate Nationwide?

If it comes, what will be Coronavirus impact on real estate?  Several things could happen.  First, the economy will slow down.  The virus is already affecting business worldwide.  We are seeing oil prices drop, in addition to interest rates.  A slowing economy lowers the demand for oil.

Coronavirus Impact on Real Estate

Home buyers can take advantage of lower rates.  Yesterday at our meeting a lender was quoting under 3.5% conventional and under 3% for government backed loans.  It’s a good day to be a buyer right now, and if you’re in the market, you should act now.

Rates are 1% lower than they were this time last year.  This adds 11% purchasing power to a buyer.  In January the median home price was up 2.1% over last year while the average was up 13.8% At the median level, buyers just gained about 8-9% purchasing power on interest rates alone, which adds fuel to the market.

The Coronavirus could impact travel plans for international visitors and Americans alike.  Tourism could drop and vacation rentals could be hit from foreigners.  However, we could see a boom from Americans who may become afraid to travel abroad and decide to stay in the US.  We could see people decide not to take cruises and vacation in Florida instead.

Florida May Fare Better Than Others

While airline and cruise stocks may be hit hard, the impact on Florida may not be as severe as people can drive here.  Luxury markets could be hit as we may have less foreign buyers here this year due to the virus.  California comes to mind as Chinese buyers are not traveling and spending money here right now.  Right now the virus is spreading across Europe, so expect to see more US luxury markets affected going forward.

Amazon has admitted it expect lower sales on its big sales day coming up.  A lot of product will not come from China, so global sales will suffer.  Short-term we could see an economic pull-back.  Some people could lose their job over the virus.  The only silver lining to all this was it’s happening at a time our economy was doing well, so at least it didn’t happen in a downturn.

While the economy could suffer a bit if we have a full-blown outbreak, there will be opportunity due to lower rates.  From a human standpoint we hope they contain this thing and get it under control soon.  The cat might already be out of the bag.  If it is, we’ll deal with it as best we can.  It may become a big inconvenience.  Meetings may get cancelled.  Schools and major events might have some choices to make.

Buyers and sellers have choices too.  Our suggestion would be, if a move is something you’re considering, do it now.  Rates are in your favor.

Best Way to Search For Properties On The Go

If you’d like the best search option available, check out www.mobilesearchapp.com It’s simply the best mobile search app on the planet.  It allows you to search at the neighborhood level anywhere in the US.  This is a great way to beat the crowds and see what’s available.

If you have questions feel free to call us 239-489-4042 Ext 4 Ask for Sande or Brett

Good luck, and wash those hands every chance you get!

See last week’s article “Interest Rates and Housing Inventory Levels Shape Direction of Market”

Check Out Lee County’s Best Real Estate Values

Ellis Team Weekend Open Houses

Interest Rates and Housing Inventory Levels Shape Direction of Market

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Two things we study closely are interest rates and housing inventory levels.  These two indicators help us get a sense of the forward motion of the local real estate market.  Currently, interest rates are around 3.5% which is even lower than the chart.

Interest Rates and Housing Inventory

Housing affordability numbers show the US market at 16 in 2019, which is less than 17 we had in 2018.  In other words, consumers could afford more home in 2019 than 2018.  Housing affordability is a function of price of home combined with how much it costs to finance it, and incomes.

Home prices were up 4.8% nationally in 2019.  Wages were up, and rates were down.  After calculating these 3 factors, it turns out we could afford more home in 2019 than previous year.  This also means we have opportunity in 2020.

Buyers are having a difficult time right now.  Not because rates are low, or credit is hard to get.  On the contrary, credit standards are OK right now and rates are indeed low.  The issue is inventory levels are low.  Nationally we’re down to a 3.9 months’ supply of inventory, which is historically low.

If we revert to the top of the article, the two things we’re monitoring now are interest rates and housing inventory levels.  Both are down, which is putting pressure on buyers.  Our team is working with several buyers right now, and it feels like a race to find the best listings first.  Many times, there are several buyers interested and sellers are receiving multiple offers.

Every home isn’t receiving multiple offers, it just feels that way when you’re working with buyers.  A good agent working with a buyer searches for the best homes that meet their client’s needs.  The best homes are typically the next home to go, because they offer value for the size, location, and amenities that home offers.  It’s no coincidence that several agents zero in on the same few homes, because that home is clearly the best value, and one of the next homes to sell.

Buyers do the same thing online.  They search for the best home and best value for them.  Sellers often look at the competition, but they often do so through rose colored glasses.  Sellers tend to value their home more favorably than buyers because they live in it and it’s their home.  It’s like watching your child perform at the school talent contest.  You see more talent in your child than anyone else, and you’re proud of them.  It’s difficult for a seller to step back and take an impartial look at their home like a buyer would.

Ellis Team Nationwide MLS Search App
Ellis Team nationwide MLS search app

Thankfully we’ve got an app for both buyers and sellers that should help you.  It’s the first nationwide MLS search for both buyers and sellers, and it includes some features no other site offers.  You can download the app at www.swfloridaopenhouse.com  Next week we’ll present more things you can do with this app.  We’d appreciate your feedback as well.  It’s something we’ve been working on for a few years and we think it’s a major improvement over anything else out there.  If it asks for a Realtor choose Brett Ellis. We’ll let you be the judge, and we welcome your feedback.  Email me at Brett@topagent.com and let me know how you like it, and if there’s anything we can improve.

For the first time you’ll be able to search at the neighborhood level, not just the zip code level.  There’s a handy guide that guides you through the process, and a dynamic map where you can choose exactly what streets you want to look at.

You can always call us at 239-489-4042 Ext 4.  If you’re thinking of selling your home, ask for Brett or Sande Ellis.  We also have buyer specialists ready to serve you.

Good luck and enjoy the new App!

See Last Week’s Article “Real Estate Total Dollar Volume Up in Lee County in 2019“

Real Estate Total Dollar Volume Up in Lee County in 2019

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One of the ways we measure health of the real estate market is to measure the real estate total dollar volume of sales.  We get this by multiplying the number of sales by the average sales prices.  The reason this figure is important is because it quickly tells us so much.  We know that Lee County Florida real estate total dollar volume was up again in 2019, beating all the past 5 previous years.

Real Estate Total Dollar Volume Up in Lee County

Real Estate Total Dollar Volume Up

The average sales price was down 1.7% for the year while the median sales price was up 3.0% The reason the real estate total dollar volume is up is because sales climbed 3.4% for the year.  Even though the average price fell, we made up for it by increased sales.

We started to see sales prices rising at the end of 2019, so the 1.7% drop in average price is the average for the entire year.  Inventory fell 16.5% in 2019. Combining lower inventory with lower interest rates, we’ve got a recipe for potential price increases.  It’s a classic supply vs. demand with a little bit of affordability mixed in the formula which equals rising price potential.

Mortgage applications rose this past week as well, which is a sign that consumers are jumping on these low rates.  Many are new purchase applications, and some are refinance applications.  We’re seeing more people in SW Florida considering their options.  They’ve been locked in their homes for quite awhile and they’re wondering if now might be the time to make a move.  They’ve finally gained enough equity, either through paying own their mortgage or rising home values, or both.

The trickiest part is finding the next home to move into while there are low inventory levels.  That’s where we can help.  We’ve helped people find new construction they weren’t aware of, which is sort of like invisible inventory.  The other thing we have is a new App that is making the home search process more fun.

New Consumer Experience App

You’ll be hearing more about this new app very soon.  We believe it will make shopping for real estate fun and be the best consumer experience you’ve seen.  It will reshape the industry.  To do that, it must be a game changer.  This weekend I’m out in Dallas at our national convention where we expect it’ll be released.  If you’d like a VIP invite to check it out, send me an email to Brett@topagent.com with message line Consumer App.  I’m going to make sure News Press readers and our Blog readers get first access to this cool new technology.  The best part is, it works nationwide too, so if you’re visiting here from somewhere else, you can use it for back home too.

2020 will be an interesting year to watch.  Sometimes election years can be funky as consumer confidence is held in the balance, but that doesn’t seem to be the case this year.  Americans seem confident in the direction of the economy.  The job outlook is bright, interest rates are low, and people’s retirement plans are doing well.  The stock market is on fire.  All systems seem to be go.  Trade deals are going our way which sets up well for the economy of the future.

Prices are almost back to where they were in 2005.  The difference is we have end users for our homes.  Back then we had speculation and flippers without end users.  The inventory was built for future demand.  Today we don’t have enough inventory, so it’s a totally different market, and the risks that were present back in 2005 are not here today.

2020 is All About the Consumer

We feel good about the local real estate market and its direction.  We feel good about the consumer experience we’re bringing to the market.  2020 will be an exciting year on many levels, both for the consumer and for agents that disrupt the status quo.  The Ellis Team looks forward to disrupting the status quo.  Email us if you’d like a first access to our new consumer experience.  If you have a home to sell, call Sande or Brett Ellis at 239-489-4042 Ext 4

Good luck and Happy House Hunting!

See Last Week’s Article “Lee County Home Prices Almost Back to Record Prices”

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Lee County Home Prices Almost Back to Record Prices

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We’re almost back baby!  We mean this in a good way.  Lee County home prices are almost back to 2005 levels, and this is good news. Some might take this to mean home prices are approaching record territory and it’s time to worry.  We say not in the least, and for several reasons.

Lee County Home Prices Almost Back to Record Prices

In a growing economy, home prices were always going to rise.  The difference is, back in 2005 we had pre-built inventory that exceeded demand.  It was false demand.  You can’t keep selling the same home to flipper to flipper without an end user in mind without future repercussions.  Our market was playing musical chairs.  When the music ran out, we had more homes than end users, and we had a glut.

We would eventually need all those homes, just not right then.  Of course, the downturn came and hit our area hard.  Builders quit building.  Eventually our workforce grew again, and our economy picked up.  Except the home building didn’t, and what seemed like a glut back in 2005 was now the floor.  We needed more construction.

Fast forward to today.  Our economy is fantastic.  We’re looking at some of the best numbers in our nation’s history.  Because we’re now in a global environment, we have global competition.  The U.S. is tearing it up, and we don’t see much inflation.  This allows interest rates to stay low.  In the old days, a heating economy meant rising rates, and that’s just not the case right now.

Lee County Home Prices

We have more room for price gains because it’s really all about the affordability.  People are making more money and borrowing costs haven’t risen.  This makes housing affordable for more people.  And SW Florida is growing, which adds demand for more housing.

Therefore, we’re seeing inventory levels falling and prices rising.  We have end users, which is something we didn’t have back in 2005.  Trade deals favorable to us have been struck with Mexico, Canada, and China.  These deals will greatly help farmers, manufacturing jobs in the US, and more.  The very people it will help may eventually move to places like Florida.

We expect to see the Fort Myers/Cape Coral area and points north like Punta Gorda and Port Charlotte take off.  It may not be sudden, but 10 years from now we’ll look up and marvel at all the new growth we’ve seen.

With that being said, there are still sellers that manage to overprice their home and fail to sell.  Proper pricing and maximum marketing are what sells homes.  You don’t want to under price your home and give equity away to the buyer, and you don’t want to overprice it and watch your neighbors sell while your home sits on the market.

Great Agents Make the Difference

Hiring the best agent is the key.  Hiring the wrong agent can cost you thousands.  It can cost you the sale.  If you’re thinking of selling, please call Sande or Brett Ellis 239-489-4042 ext. 4 for some expert advice.

Buyers, you need expert advice too.  There is a lot to consider.  What is the total cost of ownership?  You’re competing against other buyers, so you need to know what the price and payments will be.  What are the HOA and condo fees?  How much will insurance be?  Are the planned special assessments?

A seasoned agent can help you get all this information.  Buying a home or condo is much more than just looking at pictures and prices.  A lot of study goes into it, and a true professional can speed up that information gathering and analysis for you.  Analyzing information quickly is key here, because low inventory levels are forcing buyers to act faster than years past.  Our team can help you do that.  Buyers can search the MLS like a pro at www.LeeCountyOnline.com  It is updated in real-time, and you can reach us quickly if you need us.  Sellers can get their home value instantly at www.SWFLhomevalues.com  Quality and speed are the keys in 2020, and we can help you with both.

Let us know how we can help you.  Good luck and Happy House Hunting!

See Last Week’s Article “Lee County Real Estate market Finishes 2019 Strong”

Lee County Real Estate Market Finishes 2019 Strong

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For the past few months we’ve been saying the 2019 Lee County real estate market stood an excellent chance of surpassing the previous 4 years closed sales numbers.  More recently we predicted it was going to happen because the pending sales were higher going into December and we only needed about 700 or so closings to break the recent records.  Sales came in as expected, and we can now report 2019 was a good year for home sales.

Lee County Real Estate Market Finishes 2019 Strong

We’ve got so much to report now that we have final year sales statistics, so we’ll do so over the next several weeks.  The Board of Realtors saw a 3.39% rise in number of Lee County real estate market homes closed in 2019 over 2018.  December helped as the Board of Realtors sales were down 1.2% year to date going into December.

Ellis Team sales were up 18.82% in 2019 versus the board at 3.39%, so we feel pretty good about our sales numbers too.  This means we took market share from somebody.  We’ll have some major news releases coming up in a few weeks as to changes arriving in the real estate industry, so stay tuned for that.  These changes will significantly impact consumers and how they receive real estate information.

Some agent’s sales numbers are up, and some are down.  This tells us we have a shifting market and some agents are prepared for what’s going on and some are left wondering what is happening.  When we say shifting market, we don’t mean going from good to bad.  In this case the shift is in the way buyers find homes and select their agent.   This shift is going to accelerate in 2020 and we’re going to see big changes coming.

The agent you choose to work with better be on top of their game.  If they don’t understand the changes that have begun, they won’t be prepared for the changes that are coming.  The cycle has started, and we’re seeing a shift in agent’s and brokerage’s numbers.

Some brokerages are laying off staff.  Agents are watching profit vanish as lead generation costs are skyrocketing.  They don’t know what to do or where to turn.  They were told change would come in 2019 but they didn’t believe it, because it hadn’t happened yet, and they’ve heard all this talk before.  Except this time, it was true, and there is more to come.

You would think with rising sales numbers, agents would be happy.  A rising tide lifts all boats.  The tide hasn’t risen for all agents.  In fact, the tide has gone out for many agents and that has created opportunity for agents that are making the change.

The consumer should not worry.  These changes won’t affect the real estate market.  The market itself will still ebb and flow as it always does.  It will affect how consumers receive information, and it will improve the consumer experience.  Consumers will be happy and will be more educated.  They will feel more involved and will have more information available than ever before.  Exciting things are coming that will shake-up the industry and improve the consumer experience.

If you’re a consumer with an interest in real estate and you’re wondering what the heck we’re talking about, send me an email to Brett@topagent.com with subject line Consumer Experience.  In a few weeks I’ll send you information that will change everything.  Imagine travel before Expedia, Orbitz, and Trivago.  Imagine watching movies before Redbox, Netflix and streaming TV.

In each case the way you received information and the experience you gained from it changed your life forever, for the better.  Some people still remember ordering tickets from the airline and waiting for them to arrive in the mail.  Others remember going to the store to pick out a DVD for the night.  Today it happens at the speed of now, and in a format you can see and digest quickly.  The same is about to happen in real estate.  Sure, you can search real estate online now, so you’re probably wondering what we’re talking about.  You’ll have to trust me that soon your real estate experience is about to change.  Until then, www.LeeCountyOnline.com is the best place to search for SW Florida real estate.

See last week’s article “New Home Construction Up 16.9% in December and It’s Not Enough”

Good luck and Happy Selling!

New Home Construction Up 16.9% in December and It’s Not Enough

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New economic data just released shows US new home construction up 16.9% in December, and it’s not enough to balance a backlog of demand.  A separate report shows that from 2012 to 2019 builders built 5.9 million new single-family homes.  In that same timeframe, 9.8 million new households were formed in the US.  That is a shortage of 3.9 million homes.

New Home Construction Up 16.9% in December and It’s Not Enough

In the aftermath of the foreclosure crisis we saw households forming and little to no new inventory being built because of the credit crisis.  Sure, one of the reasons we had the crisis in the first place was because flippers built homes without end users in mind, so we had perhaps an over-supply.  They were just flipping to another flipper. That crisis lasted several years with little home building.

New Home Construction Up 16.9% in December

Since then builders have been cautious about building anything on spec.  Fast forward to today.  We have a booming economy, low interest rates, and households still forming.  In other words, nationally we have a shortage that needs to be made up.

States like Florida are seeing an influx of buyers moving here because of our tax structure.  Let’s face it, Florida is attractive on several levels, not the least of which is great weather and sunshine.  What’s new are the tax advantages.  While Florida has always enjoyed tax advantages due to no state income tax, new tax laws have brought to light just how out of balance some states are.

For instance, high tax states like New York, New Jersey, California, and Connecticut are bleeding residents, and tax revenue as they leave.  They are leaving in droves to lower tax states like Florida and Texas.  One report suggests lower tax states gained $32 Billion in adjusted gross income.  The booming economy has helped states collect about 6% more revenue overall, but states with lower taxes are doing better than the ones with higher taxes.

In the south, construction was only up 9.3% versus much higher in other regions. This tells us Florida has more need for building construction, and this could be putting upward pressure on home prices.  Of course, higher prices do not work unless you have rising incomes to support it, and a booming economy.

Despite political turmoil, financial markets seem to shrug off impeachment hearings as not serious.  If impeachment allegations were serious, the markets would not be stable like they are today, and the financial markets and housing markets would swing into chaos.  The markets are betting all signs are pointing to status quo and no real changes coming to Washington.

Interest rates remain low, and oil prices have been steady despite regional tensions.  With an influx of new residents to Florida, we see a need for new construction in Florida.  Many homeowners in SW Florida would sell their home if they had a place to move to that meets their needs.

The Ellis Team has noticed an uptick in buyer inquiries into new construction opportunities.  Some buyers only want to look at new construction. Many others don’t want to wait and focus on resales, while others look at both because they are flexible and searching for the best opportunity.

It’s important to work with a Realtor when buying new construction.  The commission is built-in, so you don’t save it if you buy on your own.  You also don’t get the expertise of an experienced Realtor who can guide you on options, locations, and designs that will maximize resale value when you go to sell.  Making good decisions upfront can save you thousands later.

Lastly, builders won’t always tell you about incentives.  For them you are just one sale.  A good Realtor can bring them many sales, so they hear about the incentives offered. Just this past month alone our team has helped several buyers save thousands and helped them make great decisions that will help them years down the road when selling their home.

If you have a home to sell, Always Call Brett or Sande Ellis at 239-489-4042 Ext 4.  If you’re looking to buy, our team of buyer specialists can guide you, whether it’s a new home or resale.  Visit www.LeeCountyOnline.com to see all the homes on the market in real-time.

Good luck and Happy House Hunting!

See Last Week’s Article “Ellis Team Luxury Division of Fine Homes and Estates“