Tag Archives: Ellis Team Seller’s Club

Local Housing Inventory Rises Heading Into Season

Posted on by

As predicted local housing inventory rises heading into season in 2018.  This cycle repeats each year.  One of the things we are tracking is the moment buyers turn on and start gobbling up these properties.  Each year we tell people it takes until about January 15th or so for buyers to turn on.

Local Housing Inventory Rises Heading Into Season
Oct 2, 2017 Market Watch

So far, we haven’t seen it yet.  We just pulled fresh numbers as of January 15th and compared them to October 2nd, another data point we have saved.  We have some from earlier in year as well, and they look similar to October 2nd, so there is nothing magical about that date.

Local Housing Inventory Rises Heading Into Season January 2018
January 15, 2018 Market Watch Data

In each data point, sold and new pending sales are similar to new active listings.  What’s different about now is new listings have been outpacing sold properties about 3 to 1 and new pending sales 1.6 to 1.  At any other time, this would be alarming to see a sudden trend like this.

Because we know the New Year often starts off like this, we’re not sounding alarm bells, or false missile alerts.  We have enough of those lately.  We are telling sellers that have had their home on the market awhile that new listings are coming, so if their home failed to sell before the run-up in new listings, it may face difficult headwinds now. When selling a home, it’s always important to gauge the headwinds, and as we write this the buyers haven’t turned on just yet.

As the season goes, so goes the rest of the year many times.  The fundamentals for Florida are strong as an improving economy, new hiring, pay raises, and lower taxes is a good recipe for the housing market.  Add in the fact that Florida looks good compared to other states with the new tax code and we could see more net migration from other high tax states going forward.

When there are few homes for sale, pricing it correctly and getting it out on the market can sometimes be enough.  When listing inventory begins to rise, pricing becomes more crucial as does marketing.

It’s not enough to just list it on MLS and hope other agents show it.  You must reach the buyer.  The buyer has more choices, and often the buyer tells their Realtor which homes they’d like to see.  This takes increased advertising.

When we target buyers, we use several media.  We use traditional print like the newspaper, yellow pages and mail-outs as they still work.  We also use advanced online techniques to reach buyers.  Online we can identify buyers from up North that are looking to purchase down here in SW Florida.  We can also identify people in Southwest Florida that are interested in purchasing, then serve up ads likely to meet their criteria.

If you only market one way you’re not reaching all the buyers.  Of course, you must have a hefty budget as well to reach as many as possible.  We had a Realtor from Baltimore call us this past week wondering where we got our database of buyers.  He thought perhaps the state of Florida had one we bought into.  I told him no, it’s a large database the Ellis Team has garnered from extensive online and print advertising.

They say if a politician wants to win, they must speak directly to the people.  In real estate, if you really want to sell your home, you must market directly to the buyers.  That’s what our marketing does.

If you’re thinking of selling your home, you should call us and see for yourself.  Once you see it, you realize there is no better way to reach your buyer.

If you’re a buyer, you should call us too.  We have access to All the listings, not just the ones you see on certain websites.  You can reach us at 239-489-4042 or visit www.LeeCountyOnline.com to see All the listings.

Good luck and Happy House Hunting!

Ellis Team Weekend Open Houses

Open Saturday 1-3 PM

1465 Argyle Dr

1465 Argyle Dr

 

Open Sunday 1-3 PM

13408 Marquette Blvd

Riverfront Home

Keller Williams #1 in Fort Myers

Keller Williams Realty Fort Myers & the Islands announces that Keller Williams has attained #1 market share in 2017 for Fort Myers and Fort Myers Beach.  Both units and $ volume.

Keller Williams #1 Units 2017

 

 Ellis Team Seller’s Club January 2018 Update

It Takes a Team to Win a Super Bowl

Posted on by

It takes a team to win a Super Bowl. This weekend America will tune in and watch the two best football teams square off in the Super Bowl. Fans will be rooting for their team.  Others will be watching for the commercials, and others just love a reason for a party.  Super Bowl weekend is one of the biggest party gatherings of the year.  There’s just something in it for everyone.

It Takes a Team to Win a Super Bowl

It Takes a Team to Win a Super Bowl

Winning a Super Bowl is a lot like a winning real estate transaction.  All football teams start pre-season, endure a grueling season, and the most successful teams at end of year have a chance to compete for the grand prize.  Sure, you can make some mistakes along the way.  You don’t need a perfect record during the season, but you do once the playoffs start.  One setback will end your season and its game over.

In real estate, the pre-season is interviewing and selecting agents if you’re a seller.  Having the perfect agent doesn’t matter if your goal is to win some and lose some.  If your goal is the grand prize, which is selling the home, then you can’t make mistakes during the playoffs.

If you’re a buyer, the pre-season is casually looking for homes on various online sites or visiting open houses just to see if anything catches your fancy.  You’re not ready yet, and that’s OK.

But then something happens to buyers and sellers, and they decide now is the time to take that leap.  Not the Lambeau leap, the real estate leap.

Have you ever noticed that certain football coaches tend to win more Super Bowl’s than others?  In the last 15 years it tends to be the same coaches over and over.  Have you also noticed most NFL coaches never win the Super Bowl and they get fired?  It’s true.  That’s because they can’t bring home the trophy.  They might have a winning season, but lose in the playoffs when it matters.  This get’s us back to the original goal.

Is your real estate goal to have fancy brochures and a high price so you can tell all your friends what your home is worth?  Or is it to actually sell?  Brochures are nice, and they don’t sell homes.

Systems Key to Victory

Hall of fame coaches have systems in place that work.  Winning coaches exhibit the same common traits.

  • Accountability
  • Team of professionals coaching the players
  • Evaluate talent at a high level
  • Call the right plays when the situation demands it
  • Make the tough calls.  Calls other coaches are sometimes afraid to make
  • Study their opponent
  • Do their homework
  • Preparation
  • Work long hours

This is the difference between obtaining the goal and settling for just looking good. All coaches are not the same.  Neither are real estate agents.  The traits of a good coach listed above sound a lot like the traits of a great Realtor.

All Agents Are Not the Same

Agents do not advertise the same.  Many don’t have the experience to get your home from pending to sold.  Some agents never make it out of pre-season because they price the home wrong to begin with. Agents sometimes recommend taking the wrong offer, or not waiting for a better more qualified offer.  These are all mistakes agents make that can cost a seller thousands.  It can even cost you the sale.  You might say these are rookie mistakes, but not always.  These could be seasoned agents that are decent.  They’re just not trained as well as a Super Bowl winning coach. They don’t have that level of experience.

Experience matters when hiring an agent, just like it does when hiring a coach.  If you’re a NFL general manager and your owner wants to win it all next year do you hire a coach like Bill Belichick or Tom Coughlin, or do you pay less money for a less experienced coach?  Remember, the big prize is the goal, and anything less is not acceptable.

The cost of losing exceeds the cost of winning.  Losing can be life changing.  So can winning.  If you’re looking for experienced, world class Realtors who have been the Top agents in Lee County many times, you should call the Ellis Team at Keller Williams.  You’ll be glad you did.

Ask for Sande or Brett. 239-489-4042 ext 4 or visit our MLS Search Site and find your dream home.  If you’re a seller, you can get market reports and home values for your home Free!  Now that’s a winning combination.  Enjoy your Super Bowl party!

And don’t forget, Spring Break is just around the corner.  We though you might enjoy watching the Cincinnati Firefighters put on their daily show courtesy of the News Press and the current Spring Break schedule for 2017.

Cincinnati Firefighters Show

College Spring Break Schedule

Feb 25

Michigan

March 4

Dayton

Ball State

Florida Gulf Coast University

John Carroll

Michigan State

Penn State

Queens

Stetson

Florida

Georgia

South Carolina

March 11

Florida Southwestern State College

Georgia State University

Indiana State

Indiana

Iowa

Iowa State

Ohio State

Purdue

Kentucky

Notre Dame

North Carolina

Minnesota

Valdosta State

March 18

University of Chicago

Miami of Ohio

Wisconsin

Ask to join our Ellis Team Seller’s Club.  Next week we’ll be releasing vital year end statistics for the 2016 Southwest Florida real estate market.  If you’re a buyer or seller, you’ll want this information before other buyers or sellers receive it.  We’ll email you the video when it’s done.

 

Southwest Florida December Home Sales Down as Prices Rise

Posted on by

Southwest Florida December home sales were down 5.5% from last year and pending inventory fell 8.4% from last year, a worrisome sign to agents heading into 2017.

December 2016 may be an abnormal year as we just came off the most contentious election cycle I can remember.  January sales normally don’t start heating up until the 2nd half of the month.  Already we’ve seen strong buyer activity which may be a sign that consumers are now moving forward after a lull in 2016.  Potentially we have a lot of pent-up demand.  Consumer confidence seems to have increased post-election.

Southwest Florida December Home Sales

Single family home prices increased 8.7% over December 2015.  Many of these sales would have been in place before the election, so that is a positive sign.  Listing inventory declined slightly from November although it is up 11.4% from December 2015.

We’ll be keeping our eyes on inventory levels moving forward into 2017 as well as pending and closed sales.  One month does not make a trend.  So far we’re still seeing mixed signals but all indicators were pre-election.

The other thing we’ll watch in 2017 is interest rates and job creation.  Interest rates rose in 4th qtr of 2016 and the Fed has signaled more in 2017.  They predict 3 more Fed increases.  It’s impossible to know how the overall market would respond to that as the Fed doesn’t control bond prices or mortgage rates directly.

We hear great news on the manufacturing front.  Jobs returning to the US would be a boom for real estate.  Quietly we’re losing other jobs, like retail brick and mortar stores.  Macy’s, Sears, Kmart and others are closing stores as sales are off at malls and retail stores.  It may very well be that sales are not off, just a reformation of how people are shopping.  We believe more people are shopping online and less at malls, but that’s just our guess.

Real estate consumers are also researching and shopping online.  Last month our websites earned over 7,000 user sessions by over 3,700 unique users researching our market and searching for property.  This doesn’t include our social media sites.

Remembering back to life before the Internet, we never had 3,700 people coming through our team’s doors each month.  Sure, we had more than most as we have always been large advertisers, but no team had that many.

Online shopping has really opened how consumers access information.  To capture these buyers agents must have a website that serves timely and useful information, and presents it in such a way that is mobile and consumer friendly.

38.76% of our property search traffic is mobile and another 16.03% is tablet.  Combined that equals 54.79%.  More than half our traffic is mobile, which means less than half are searching on desktop.  Therefore having a team ready and able to respond to leads quickly is critical.  Statistics show buyers work with the first agent they talk to and build a trust with.  Communicating with a lead within first 5 minutes is key.  Agents are busy and can’t always call a lead immediately, but when they can conversions go up.

Buyers want to buy from somebody.  They just want to work with someone who can answer their questions and solve their problems.  Faster response times just increases your chances.

Buyers, if you’re looking to purchase or curious about the market, check out www.LeeCountyOnline.com  It has everything you need and database is updated every 5 minutes.  Hard to believe, but it’s true.  I’ve tested it.

Sellers, if you’re looking to sell, hiring an agent that will proactively market your listing and reach today’s online buyers is critical.  In addition, they must have a team in place to service these leads quickly.  Without these tools and the agents to work the leads, your home is just sitting on the market waiting for someone to possibly find it.  We don’t wait!  We market!

Agents, if your sales are coming up short because you don’t have the leads, maybe we should talk!

Always call the Ellis Team!  239-489-4042  We can sell your home!

Southwest Florida Real Estate Market Update January 2017

We’ll have an updated Seller’s Club coming out in next few days.  Until then, here is December’s Report.  Please contact us if you’d like to have this report emailed to you each month.

 

Ellis Team Open House

Ellis Team open house Reflection Lakes
Reflection Lakes Open House

Open Sunday 1-4 PM

Reflection Lakes  Gate 2

13624 Gulf Breeze St

$285,000

What Agents Saying About SW Florida Real Estate Market

Posted on by

Over the holidays, I had the chance to speak with several Realtors at various parties and get togethers and find out what are other agents saying about SW Florida real estate market.  We work with other agents every day, however there is something about getting a bunch of agents together in one place and discussing what they’re seeing in the market.

Agents Saying About SW Florida Real Estate MarketAgents Saying About SW Florida Real Estate Market

Each one that I spoke with had similar observations.  Buyers and sellers seem to share an anger.  When both are angry this is an indication the market is in flux.  Each side has certain expectations and neither are being met.

If you’ve ever watched American Idol, some of the best episodes in the beginning of the season are when they show singers who think they are good.  They’ve been told all their life how wonderful they sing by friends and family.  Nobody wants to disappoint them, so they don’t tell them the truth.  It may help their ego for a while, but secretly people are laughing at them because their talent doesn’t match their perception of themselves.

The real estate market can be like that sometimes.  Most people know what a seller’s market is, and most know what a buyer’s market is.  Imagine being a seller believing wholeheartedly it’s a full-blown seller’s market and buyers are just beating down doors to buy any home they can.

And imagine a parallel universe where buyers believe it’s a full-blown buyer’s market and sellers are practically giving homes away.  When you merge these two universes together, each one begins to realize their expectation of what the market is, or what they think it should be collide.  And when these universes collide, each side becomes frustrated.

Therefore, now more than ever buyers and sellers need agents.  When either side is confused about reality, or angry, or sometimes both, transactions do not get done without the help of a professional.  In 2016 transactions were down about 15% or more.  We’ll wait for year-end calculations on that.

Anger shows up when it shouldn’t, and it kills deals.  Regular inspection items become mountains, because the buyer has fear, or doesn’t feel like the transaction has been fair to them.  Rational or not, buyers bail.  Or sellers refuse to fix the most basic items; items they’d fix if they were staying in the home anyway.  If the seller is angry or doesn’t feel like they’ve won, sometimes they turn off and tune out and kill deals.

What neither side fails to realize is that winning is the culmination of attaining a goal.  The goal was to either buy a house or sell a house.  Anger gets in the way.  They judge wins and losses by who got the better of the deal, not whether the deal closes.

Now many items are important.  We’re not making light of that.  Agents work tirelessly every day to bring a transaction together, and lots of things must happen to make that reality.  We’re talking about the silly things that shouldn’t rise to deal-breaker status but do because of emotions.

When you’re in a transaction, you can convince yourself of anything, and you’d be right.  Most buyers and sellers appreciate having a professional guide them.  They can bounce ideas off their agent, and an agent can give them a professional perspective on how to handle it, and which items are worth arguing about.

Imagine 4 siblings fighting over a toy.  Or arguing about who started the fight.  You’ve all heard “But she started it”.  As a parent, you know the kids can’t see the big picture because they’re caught up in the emotion of who is getting the fair shake.  They don’t realize that the parents aren’t necessarily picking a favorite, they’re just arbitrating what is fair this time, until the next argument 10 minutes later.

We don’t see buyers and sellers as children.  However, children and adults alike are people, and emotions take over.  It’s human nature.  To combat emotions, we like to use facts, data and logic.

We study the market and counsel buyers and sellers to actual market conditions.  We help get you from Stuck to Sold.  Call the Ellis Team  239-489-4042.  Let’s make your next transaction in 2017 a success.

Feel free to search for homes www.LeeCountyOnline.com  Our data is updated every 5 minutes, so you’ll get the latest listings when seconds count.

Seller’s Club December Video

Test out our Neighborhood Market Reports  You’ll find useful information about listing and sales activity for dozens of neighborhoods.  If you don’t see your’s listed, you can create your own and save it.

Southwest Florida Real Estate Inventory Supply Increases in 4th Qtr

Posted on by

The Southwest Florida real estate inventory supply increases in the 4th qtr.  All price ranges except two increased with the most pronounced increases occurring in the $400,000 and up range.

Southwest Florida real estate inventory supply increases in 4th Qtr

In December, the $400k-600k range shot up almost 2 months from 9.34 months in September to 11.15 months currently.  The $600k-$1 Million shot up from 12.57 months to 14.69 currently.  That’s over a 2 month jump.  The biggest jump occurred in the $1 Million+ range where there was a 17.03 month supply back in September.  Today that number stands at 21.04 months.  That’s almost a 4 month jump in supply just since September.

Southwest Florida Real Estate Inventory Supply Increases

It pays to know where your home stands in the supply chain.  It tells you how aggressive you must be when selling your home.  The overall market stands at 5.65 months which is a healthy number.  People read headlines and hear there is a 5.65 month supply, so homes must be selling fast.  They figure with homes selling so fast it’s probably easy to stick a sign in the yard and sell it.

Even at the lower price ranges there are still many homes that do not sell, because they are over-priced.  If they were priced correctly and properly marketed, they would sell.  The demand is there, at the correct price.

As we go higher in price the demand is still there, it’s just that the supply is even greater.  Recently more homes are coming to the market than are selling, hence why we have increasing supply.  We can’t look at the overall market and assume all homes are selling the exact same.  Just as we can’t assume that all cities in Florida are behaving the exact same.  Real estate is local, and it is segmented.

Certain cities or neighborhoods sell better than others.  This can be due to economic factors, or perhaps location.  The closer to beaches, or top schools can affect values.

Lee County is getting ready to change how children are selected for schools starting in 2018.  This may put an end to the zoned system and busing system as we know it.  Children will go to schools closer to where they live, and this could affect values.

Segments also affect the market.  Sometimes the low end is red-hot, and other times the mid to upper markets make a comeback.  Generally speaking, the lower the price the greater the demand as more people can afford lower prices.  Not everyone can afford high-end real estate.  Just because Southwest Florida Real Estate Inventory Supply Increases in some price ranges doesn’t mean it increases for all ranges.  In fact, a few decreased.

Right now we have an affordable housing crunch in Southwest Florida. Rents are high, and so are median sales prices relative to what the average working person can afford.  It makes it difficult to find housing close to where you work.   We saw this back in the housing boom too.  This doesn’t mean our market is over-inflated.  It just means there is a cap to how much more and how fast it can rise until incomes pick up.

The big price gains may be over, unless the economy comes roaring back.  Our US economy has essentially had free money for the past 8 years and it’s done nothing except help the stock market.  If jobs and economic activity return like it’s believed they will post-election, our real estate market  could be in for more good times.  If nothing changes, we could be in for flat to modest gains.

We think 2017 is going to be a year of change.  Home sales may pick up even though rates will continue to rise.  Proper pricing and aggressive marketing will become even more important, and the people who act quickest will save the most money when rates rise.

You can search the MLS for Free at www.LeeCountyOnline.com.  Our database has all the homes, and it’s updated every 5 minutes directly from the MLS.  It will even notify you of new homes or price changes if you save your search.  You can always call us at 239-489-4042 and we’ll be happy to discuss your buying or selling options.

 

Good luck and Happy House Hunting!

December 2016 Ellis Team Seller’s Club Report

 

Congrats to our Ready For a Yeti contest winner!

Stay tuned for your chance to win a Yeti cooler

Ellis Team Featured Listings

Ellis Team Assisted For Sale By Owner Listings

San Carlos Park Pool Home $269,500

Gateway 5 Bedroom Pool Home on Lake

SW Florida Real Estate Market Velocity

Posted on by

One of the things we like to study is the SW Florida real estate market velocity. In a snapshot it tells us several key indicators about the state of the local real estate market.

SW Florida Real Estate Market Velocity
SW Florida Real Estate Market Velocity

We used this graphic at a recent filming of our Ellis Team Seller’s Club video shoot. Each month we dive deep and share key factors we’re looking at and how they’re affecting various segments of the market.

For instance, the market doesn’t all move at once. Certain segments may lead and others follow. Because it’s a video we’re able to illustrate more than just a graphic or two and 700 words. We can really explain each force and its effect.

SW Florida Real Estate Market Velocity

One of the numbers we look at not on this graphic is Total Dollar Volume. Total dollar volume is down 27.7% in July. Last year Realtors sold $420.4 Million dollars worth of residential real estate. In 2016 was $304.1 Million in July. Two factors contribute to this decline.

First, closed sales were down 17.3% Secondly, average sales price was down 12.6%. That’s a double whammy to the market. While these two numbers aren’t on the velocity graph, it does confirm a few trends on the graph.

Listings are up and new pending sales are down. Now you might ask, if new listings are down 2.5% how is it that overall active listings are up 15.5%? This can be for a number of reasons. Older pending sales could have fallen out and come back on the market. These would not be new listings. And even though new listings entering the market declined, new pending sales are roughly equal to the new active listings. So if any pending contracts fall out, and some always do, it adds to the listing inventory.

Lastly, inventory has been rising. It’s actually down from where it’s been in the last few months, but definitely up over last year.

When you hear the market is up, down, or sideways, it doesn’t tell the whole story. The headline tells one story, but the market may have several stories to tell. Right now there are 3 distinct markets with a possible 4th developing. We have the buyer’s market, the neutral market, and the seller’s market.

In our Seller’s Club video we dive into which segments are in the buyer’s market, which ones are neutral, and which ones are seller’s markets. Knowing where your home stands is important to know. And if you’re a buyer, this is also important information as it dictates how much you can gamble in your negotiations. We’ll be starting up a Buyer’s Club soon so buyers too can see in-depth information.

Whether you’re buying or selling, it pays to understand where the market is today, and where it’s headed. Interest rates and economic events can also influence the markets and we bring you our analysis on those as well.
If you’re a buyer and would like to search the MLS or view neighborhood reports, simply go to www.LeeCountyOnline.com

If you’re a seller, you can find out what your home is worth online, or view the same neighborhood reports. Neighborhood reports show you all the homes for sale, pending, and sold in particular neighborhoods. It also shows you time on the market for each listing, dollar per sq ft calculations, sold dates, and photo galleries of each listing.

Of course there’s no substitute for working with experienced agents who know the market. Our website is for those that wish to do their own research before speaking with a Realtor.

If you’d like to be added to our Buyer’s Club or our Seller’s club, send me an e-mail at Brett@topagent.com and let me know which one. We’ll get you on the list and on your way to receiving these great in-depth monthly video reports.

If you have a home to sell, please call us at 239-489-4042. Ask for Sande or Brett and we’ll be glad go over our marketing and show you why our homes sell faster and for more money!

Good luck and Happy Labor Day Weekend!

Real Estate Numbers Not What They Seem

Posted on by

Most people do not know that last year’s sales prices have recently been revised down, so when this year’s numbers are reported the gain looks better than it would have been had they been left alone.  This means the reported real estate numbers not what they seem.  For example, the official median price reported back in January 2015 was $190,000.  2016 median price was reported at $227,000, which was a 19.47% increase.  Not too shabby.  However, January 2015 numbers were revised down earlier year to $185,748.  This now makes the gain 22.21% instead of 19.47%

Real Estate Numbers Not What They Seem

That’s all well and good when the numbers are spectacular, but what happens when the market begins to tighten?  We reported back in February that the market was in a Shift.  Few people realized it at the time as we were still reporting 20%+ gains.

Real Estate Numbers Not What They Seem

In May the gains were down to 4.65% and that’s with the benefit of revisions.  If they went with original numbers, the median single family home price was only up 3.57%.

Earlier this year I questioned the numbers.  Back in March the local Board of Realtors received information about the changes.  Most of the changes affected listing counts and under-reported listing inventory in previous years due to date errors in their database.  We’re all for cleaning up errors, however we haven’t seen any rationale as to why prices have been adjusted.  We’re not saying there is anything nefarious with the changes, it’s just that by doing so they’re making the market this year look better than it is.

July numbers are due to be released at any time.  We believe average prices may level out while median prices may still advance, albeit at a slower pace than years past.  The reason we see median prices holding steady is because currently the median price is $230,500 in June.  Homes in that price range usually attract multiple offers and quick sales.  It’s the homes priced over $300,000 that are taking longer to sell.  It would take quite a decline in homes over $300,000 to filter down to that $230,000 range.

Buyers and sellers probably need to pay attention to interest rates.  When we get close to an election the Fed’s usually hold off on making big changes.  This year they’ve indicated they’d like to raise rates and recently they signaled next month may be the month.  In other words, they may not wait until after the election.  This is the time of year we watch the tropics.  It also may be the time of year to watch rates, because rates may affect people’s personal lives.

For every 1% rise in rates it eats away a buyer’s purchasing power by 11%.  A buyer that qualifies to buy a $300,000 home today may only qualify for a $267,000 home tomorrow.  It can happen fast.  When rates move the markets can move even faster.  30 year mortgage rates are best associated with the 10 year note, and that can move faster than whatever the Fed’s set the discount rate at.

This is a problem for buyers.  It also becomes a problem for sellers when the buy pool shrinks.  Instead of receiving 4 offers on a home the seller may only receive one because the other three just went down a price bracket.  This halts upward pricing pressure, which affects sellers.  Many $250,000 sellers are move-up buyers, and if they can’t sell their $250,000 home for as much or quickly, they may not be able to move up to the $400,000 home they were looking at, which puts further pressure on homes priced above $300,000.

It starts a domino effect.  If you’re on the fence, right now is a good time to buy or sell.  Through no fault of your own, you will pay more to buy a home once rates change.  You’ll either buy less home for the same money or you’ll pay more each month for the same loan you could get today.  Most sellers buy another home somewhere when they sell, so waiting for a few extra dollars can cost you tens of thousands on the buying end.

If you’d like to search the MLS, or get an idea of what your home is worth, check out www.LeeCountyOnline.com  If you’d like to talk to us about options, call us at 239-489-4042.

Good luck and Happy House Hunting!

If you’re thinking about selling, be sure to get into our Seller’s Club.  Our Ellis Team Seller’s Club provides more detailed insight exclusively for people who request to receive this information.  Simply call or email us.

September SW Florida Real Estate Market Report

Could Brexit Benefit Southwest Florida Home Buyers?

Posted on by

Great Britain’s vote to leave the European Union, also known as Brexit, shook financial markets to the core leaving investors scrambling.  There was a definite flight to quality into US Treasuries as the 10 Yr note yield fell instantly as the vote was announced.  We answer the question, “Could Brexit benefit Southwest Florida home buyers?”

Brexit Benefit Southwest Florida Home Buyers

Could Brexit Benefit Southwest Florida Home Buyers?

The answer is yes, it is already benefiting many borrowers.  Since Brexit rates are down about 1/4% to ½%. This works out to about 6% more purchasing power for the same payment in one week’s time.  In other words, a buyer has two choices.  They can either step up about 6% in purchase price and not have the payment cost them any more, or they can purchase the same amount and spend less per month doing it.

This helps more buyers qualify, so it can help sellers too.  We have a listing in Bella Casa that has Open House Friday 5:30-7:30 and Saturday 5:30-7:30 July 8th and 9th.  It is 3 bedrooms and 2 baths and is listed at $185,000.  Before Brexit we needed a buyer that qualified for the full $185,000.  Today we could find a buyer that qualified for a maximum $174,000 just last week and make that deal happen and it wouldn’t cost the buyer any more.

In the higher price ranges it’s even more dramatic.  Essentially borrowers just got either a financing discount or a purchasing boost for the same money.  The buyer definitely wins, and one could argue sellers do too because now there are more available buyers for their home.

When times are uncertain investors flock to tangible assets or quality.  Good examples of tangible assets are gold and real estate.  Both can fluctuate in value but real estate can be rented out.  It’s hard to do that with gold.  The EU may not be done losing participants either, and if anyone else bows out like Great Britain did it could spell more uncertainty for the markets.

Gold rose and oil fell after Brexit.  Gold was considered a flight to quality while oil fell because people feared a business slowdown.  Sometimes the markets are fueled by consumer confidence while other times they’re fueled by opportunities.

We could have fewer British and European buyers in the US market which could hurt some local markets while at the same time helping many buyers.  Many times there are competing forces at work and so it is difficult for anyone to accurately predict which force wins out and who the winners and losers will actually be.  Just keep in mind there are opportunities in situations like these and the news isn’t always grim.

If you’re thinking about buying in this very low interest rate market we’ve got the website for you.  www.LeeCountyOnline.com  We think you’ll like it because it is updated with all the listings every 5 minutes.  Most of the other sites take days and still don’t always get it right.

Sometimes days is too long.  The best properties go fast.  Timing is critical.  If you’d like to take advantage of this financial situation, give us a call at 239-489-4042 or register on our site.  We can get you in touch with a lender who has rates below 3% as of the time we’re writing this article.

If you’re a seller, we have lots of buyers and may have a buyer that’s looking for a home like yours.  You can call us too.  If we don’t currently have a buyer, we have marketing that attracts buyers.  Give us a call and let’s see if we can get you to your next goal.

Good luck and Happy House Hunting!

Next weekend we’ll feature an Open House Extravaganza, so stay tuned.

 

Welcome to the Ellis Team Seller’s Club.  Each month we inform sellers in Southwest Florida trends and data to make the best decisions.  E-Mail us if you’d like to be included in our Seller’s Club.

SW Florida Real Estate Sales Picking Up

Posted on by

Back in April we reported sales seemed to be picking up just a bit after a lackluster season. We’re happy to report some encouraging news with SW Florida real estate sales picking up slightly.

SW Florida Real Estate Sales Picking Up Months supply inventory
Months Supply of Inventory June 2016

The trend we saw in April bears out in the statistics. Month’s supply of inventory in all but one price range declined which means there are more sales relative to the amount of inventory on the market. We’ve supplied a chart comparing month’s supply of inventory for single family homes in Lee County Florida in June compared to April 2016. While there is still a large amount of inventory priced $400,000 and up, numbers are looking better.

SW Florida Real Estate Sales Picking Up

Closed sales May 2016 SW Florida Real Estate Sales Picking Up
Closed Sales May 2016

We reported that sales were down about 20% earlier this year; however closed sales in May were just about even with last year’s numbers. While February and March sales were down from last year, May is showing some progress this year.

Brexit is in the news and the jury is still out on its effects on our national and local markets. One boon could be lower rates as we see a global flight to quality to US treasuries. When this happens it drives down mortgage rates which are largely based off the 10 yr note. Lower rates would add buying power to local buyers and create newly qualified buyers into the market. The downside could be a lack of consumer confidence and exports which could cost jobs, so we’ll have to wait and see how this all plays out.

Every circumstance presents a new opportunity, so we’ll be looking for creative ways to market to the opportunities as they present.

New listings are up 10.6% in May, so hopefully the pending sales keep coming and keep that supply of inventory down. Pending inventory fell 12% in May over last year while inventory increased 14.1% in May over last year, so we’ll have to keep our eye on that.

There are so many statistics we research each month that give us a guide to where the market may be headed. It’s worked well in the past and sellers appreciate reviewing all the data when they’re making selling decisions on their home.

This is one of the reasons we’ve decided to start up a Seller’s Club. The Ellis Team Seller’s Club is a group of people who have their home on the market or are considering selling their property and are thirsty for market data. We produce a video going over many charts and analyzing the data. We only have so much room in each of these articles so with the videos we’re able to present much more. All of the data is geared to sellers and what they need to know. If you’re listed with another broker this is not a solicitation to obtain your listing.

If you’re considering putting your home on the market then you definitely want to tune in. Just email me at Brett@topagent.com and ask to be placed in our Seller’s Club and we’ll add you. It’s that simple, and you’ll look at the same data we look at and receive expert analysis of what it all means and how it affects you.

If you’d like to search the MLS like a pro, head on over to www.LeeCountyOnline.com Our database is updated every 5 minutes, so you’ll find hot new properties before other buyers do. If you’d like to list your home now, give us a call. 239-489-4042 We’re easy to talk to and we’re here to help.

Good luck and Happy House Hunting!

July 4th Independence Day Specials

 

SW Florida Real Estate Featured Properties
Olde Hickory Golf Course Home

14381 Hickory Fairway Ct

4 Bedrooms, 3 Baths

 

 

 

 

SW Florida Real Estate Reflection Lakes
Reflection Lakes Pool Home on Lake

13925 Bald Cypress Cir

4 Bedroom, 3 Bath Pool Home on Lake

 

 

 

 

 

 

Whiskey Creek pool home SW Florida Real Estate Fort Myers
Whiskey Creek Pool Home

5668 Jerez Ct

3 Bedrooms, 3 Baths, Oversized Lot

 

 

 

SW Florida Real Estate Viridian Fort Myers
Viridian Pool Home on Lake

12407 Arbor View Dr

4 Bedrooms, 4 Baths, Pool Home Lakefront

 

 

 

SW Florida Real Estate Cape Coral Pool Home
Cape Coral Pool Home

2110 SW 13th St

3 Bedrooms, 3 Baths, 4 lot site

 

 

 

SW Florida Real Estate Bella Casa
Bella Casa Home With Garage

Bella Casa Home Fort Myers

3 Bedrooms, 3 Baths with Garage

 

 

 

SW Florida Real Estate Bella Casa Riviera
Bella Casa Riviera Floor Plan

Bella Casa Riviera Floor Plan

3 Bedrooms, 2 Baths, Community Pool

 

 

 

The Ellis Team Seller’s Club is brought to you by the Ellis Team – Keller Williams Fort Myers & The Islands