Ellis Team Weekend Open Houses Archives - Fort Myers Real Estate and Homes For Sale

Pre-election real estate showing activity is down 32.5% from last year. Is the decline in showings this year due to the elections, or is something else going on?

As a real estate professional, one of the top objections we are getting from buyers and sellers is they want to wait until after the election. We hear this objection every 4 years, but this year more people are saying it.

Real Estate Showing Activity Down 32.5%

We studied the first 28 days of October 2023 and compared to October 2024. Sure enough, overall showings are down 32.5%. The interesting part is both ends of the price ranges are being hurt. The luxury million dollar plus homes have been hurt the worst, down 72.22%. The $200-$300k range is next, down 56.09%. Showings are down in every price range.

If showings are down solely due to people waiting until after the election, it would stand to reason that showing activity will pick up in the weeks following. I hope they do, but something tells me there is more to the story.

Interest Rates

Interest rates have been rising, up about .75% since the Fed lowered rates. This could influence showings. Consumer confidence in the economy and the future could also have an effect. Until people know the direction of the economy, they may wish to hold off large purchasing decisions.

I believe it’s a sense of loss of control. People no longer feel like they control their own future. The government plays a bigger role, and people are uncertain which track we will take going forward. In a way, the future will become clearer to more people, and maybe they can move on from their current state.

Of course, half the country will be shocked either way. It may take a month or two for reality to set in. After that, real estate activity should go back to normal objections and motivations.

Success Going Forward

No matter who wins the election next week, one thing is clear. The Realtor you select to buy and sell with makes all the difference. Your vote next week is important. The Realtor you select is too. When selling, marketing is key. What will your Realtor do to make your home stand out? Inventory is much higher, and still rising. Pending sales have been declining. Selling in today’s market requires more marketing than ever.

Marketing Muscle

The Ellis Team has some new marketing that may help. The Ellis Team still advertises online, in print, and with national presence using Gannett, the News Press, USA Today, as well as Google, Bing, Facebook, Instagram, our Blog, Keller Wiliams, and all the other tools to create maximum exposure. Our Team continues to operate www.LeeCountyOnline.com which is SW Florida’s premier local search site. We’re adding to this lineup with some additional muscle. If you’re in the market to sell, you definitely should talk to us. 239-310-6500

Buying

The Realtor you choose to work with on the buying end matters now too. Negotiations are more complex with the new settlement guidelines, and some Realtors don’t have the experience or understanding to negotiate several issues at once. Brett, Sande, and our team can help with that as well. Before you make a real estate decision, consult with the Ellis Team at Keller Williams Realty. Who you hire matters.

Good luck, and Happy Selling! And don’t forget to vote.

Ellis Team Weekend Open Houses

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

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

Pre-Election Dollar Volume up in Summer

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

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

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

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

Waiting on a Winner

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

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

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

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

Ellis Team Weekend Open Houses

Saturday Nov 7th 12-2 PM

11685 Kati Falls Ln

Sunday 1-4 PM

13825 Bald Cypress Cir

13876 Lily Pad Cir

Mortgage applications rise sparking important questions this past week 8.1% as mortgage rates fell. We are consistently seeing rates below 4%. Recently we had a buyer receive 3.25% on a fixed rate loan. With rates falling, it’s sparking two important questions.

If I own a home, should I refinance? The answer depends on two things. What is the differential in the rate you have currently and today’s rates, and how long do you plan on staying in the home? Does your current home meet your needs? We are at a historic time. This is an opportunity to lock in a low rate for your home, or an opportunity to find something better and lock that in.

You May Qualify For More Home Now

You might qualify for much more home than ever before due to these low rates. Your dream home you thought was an impossible dream might just now be a reality. The question is, are you content where you are, or do you aspire for something better? Now is the time. There is no right or wrong answer, It’s your answer. What we can say is there is a right or wrong time, and now is the right time.

If you don’t currently own a home, now is the best time from a financial standpoint. Only you can answer if it’s a good time job wise, relationship wise, etc. It’s been proven that owning a home is key to accumulating long-term wealth. Putting money in the stock market may not work out the way you want. Income stocks and bonds, CD’s, and interest bearing accounts aren’t paying much either. Real estate may be your best bet, and now is the time.

You may need help deciding whether to keep your existing home and fix it up or sell it and buy another. You’d probably think a real estate agent would only want to sell you something, so no sense consulting with an agent. A good agent will listen to what you’re trying o accomplish and make suggestions for you to consider. This is a moment in history, and you may not get a do-over.

Real Estate Sales Versus Consultant

Good real estate agents know things the general public does not. We can offer advice based upon your needs, even if it’s not deciding to sell. When you receive good advice, you’re much more likely to recommend your agent to people you know. Great agents know that if they take care of their customers, their customers will always take care of them.

We help a lot of people buy and sell property in SW Florida. Sometimes we don’t take a listing because we can’t help the seller. Sure, we could take a lot more listings, but in the end, if you know it’s not right you’re not helping anybody.

Most sellers don’t know for sure where they’d go if they sold. They know their current home isn’t ideal for them anymore, but they don’t know how they’d get to another home. It’s logistics. This is where a great agent can help. You must have a plan to get from point A to point B. There are steps, and good agents have a track record of accomplishing this. Sellers see the task as daunting, so they give up before they start.

Mortgage Applications Rise Sparking Important Questions

Sometimes homeowners look back on their life and hate how they’ve been stuck someplace that doesn’t make them happy. We’re not saying you should sell today at all costs. What we are saying is if you have a home that isn’t working for you anymore, there are options, and today more things are possible than they were in past.

Call Sande or Brett Ellis 239-489-4042 Ext 4 and schedule a sit-down appointment to go over your needs. If you’re just looking for a quick, free online evaluation, we provide that service as well. Simply go to www.SWFLhomevalues.com and it does a pretty good job of estimating your home’s value instantly. Did we say Free?

Of course, there’s no substitute for consulting with us. We’re here when you’re ready to talk, and we have tools for you if you’re just curious and beginning the thought process.

Good luck and Happy Home Buying/Selling!

See last week’s article “Median Time to Contract Increased 20.6% in August”

Ellis Team Weekend Open Houses

Ellis Team Facebook Page-Open Houses

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

Which is more valuable, your home or your data? iBuyer Programs Steal Your Home and Your Data so let’s investigate what an iBuyer program is and what its goals are.

iBuyer programs offer an easy button to sell a home, with a catch. These are investors looking to scoop up homes at a large discount. Essentially you sell your home so far below market value it becomes lucrative for an investor to buy and flip your home. They make all the profit. In other words, you’re giving your home equity over to them.

iBuyer programs are nothing new. Investors have been posting those pesky road signs all over the place offering to pay cash for your home or buy ugly houses for decades. Today’s iBuyer program is different, because they have another motive. They want your data.

iBuyer programs realize once people see their offer then subtract fees, closing costs, and repairs after their inspections, over 90% of sellers become disgusted and turn them down. By then, it’s too late. They’ve captured all your data. They sell that data and make millions. Their goal is to make billions.

Here’s how it works. First, you get an offer. It’ll be low, perhaps 10% or more below market value. It gets even better. They tack on fees, typically in the 5-7.5% range. Then they add closing costs in the 2-3% range. Then they do inspections, because up until this point they haven’t even seen your home. It’s all been done using data points and algorithms. The report comes back, and they decide you need $15,000 in repairs plus your kitchen needs updating, so tack on another $20,000. At this point, the seller is furious.

The seller says no, and the deal is off. The iBuyer program knows how much you owe on the home, how old your roof, appliances and air conditioner are, what improvements are needed to the home, where you’ll be moving once you sell, and much more. How? Because you answered their questions to continue through the process. You didn’t like the ending, but you were curious through the process to see what number they would give you. They had you at hello.

So, you say, “I’ll sell my home with a broker and keep the profit yourself.” That’s ok, because they refer you to “top brokers” in the area. You guessed it; they collect a referral fee from agents they recommend. They may not be the best agents, but surely, they are agents paying them a fee.

Have you seen ads on TV promising to find the best agents in your neighborhood? HomeLight is one that comes to mind, and they are also an iBuyer. Contractors, remodelers, home improvement stores would all be interested in the age of your appliances, or what your kitchen and baths look like. Same with flooring. Now they have pictures, because you guessed it, the inspector took pictures during the inspection period.

Outside mortgage companies have your info too because they bought your data. They know your phone number, email address, how much you owe, where you’re going, and more. The simple offer you were curious to get has become a treasure trove of data.

If you sell your home to the iBuyer, they win big. If you refuse to sell, they still win big. The only loser is the poor seller who was just curious to use the easy button and sell their home if the price was right.

Keller Williams is coming out with an iBuyer program to prevent this. We have no intention of selling the data. We’re not going to refer it out to other agents. If the seller doesn’t like the cash offer, they’ll use one of our agents to get full market value. We have our own mortgage company that offers a zero-lending fee loan. So, we’re not selling to other mortgage companies. We’re not selling to contractors or home improvement stores. We simply want to provide the iBuyer option so people don’t go to other places that will sell your data.

Our program is rolling out to 8 markets this year and more after that. If you’re thinking of selling your home and want full market value, Always Call the Ellis Team at Keller Williams Realty Fort Myers & the Islands 239-489-4042 Ext 4 or visit www.SWFLhomevalues.com

Ellis Team Weekend Open Houses

Open Saturday 12-3 PM

Eagle Ridge Home

We don’t want to alarm you as 2018 turned in some impressive stats in the SW Florida real estate market. Closings were up for the year, as were prices and dollar volume. You would think with increased closings and prices, Realtors would be reporting the market is fantastic. 4^th quarter numbers suggest there may be some chinks in the armor. Early signs point to a Southwest Florida market shift.

Closed home sales fell 15% in December over last year. We can attribute some of that to increased closings last year in December due to Hurricane Irma. However, we’re seeing new pending sales down 10.9% in December, which will lead to lower closings in January and February of this year.

The median sale price rose 3.1% for the year and ended at a year-end average of $251,000. The average sales price rose 5.6% to $351,200 year-end average. So, if prices are rising, why are we sounding the alarm?

Inventory rose 8.8% for the year. However, inventory shot up 19.8% over last December and the month’s supply of inventory was up 11.8% in December. While sales for the year may be up, we’re seeing declining sales in the 4^th quarter, rising inventory, and a decrease in new pending sales.

Not Time to Worry

All this leads to worry amongst real estate agents that we may be in the middle of a shift. This isn’t a time to worry though. Experienced agents know how to handle a shift. If you’ll remember, our article back in October warned of a possible upcoming shifting market, and we recommended sellers put their home on the market before January to beat the predicted rush of listings.

People listened, and the rush began sooner than January. We talked about how selecting the correct listing agent is critical when the market shifts in our December 1^st article. To read past articles, visit http://blog.topagent.com

When the market shifts, it’s critical you select an agent with experience. For instance, lower priced homes are still receiving multiple offers. Other homes take more marketing and experience to sell properly. Of course, you not only must select an experienced agent, you must listen to them.

Sellers do not like to hear that the market has shifted, and they hold onto what their home used to be worth. Markets move up and down, and just as a seller expects a buyer to get over it when the market moves up, buyers expect sellers to get over it when it moves down.

Sellers point to the fact prices went up 3.1% in 2018. Yes, but not in all sub-markets, and not all year. Prices may have gone up slightly in first 3 quarters of the year and pulled back in last quarter.

What’s Causing a Shift?

Some say it’s rising interest rates. Interest rates peaked in October around 5%. They’ve since slid back a bit. Rising rates rob home buyers of purchasing power. As this occurs, there are fewer home buyers available in each price range.

Keep this in mind. Inventory levels stand at a 5.7-month supply of homes. A balanced market is 5.5-month supply. So, we’ve barley crossed the threshold, and it varies by price range.

We’re seeing buyer activity picking up right now. We usually do after January 15^th. Buyers have more choices today, but the best homes are flying off the shelves. The challenge to sellers is, you must be the best home, so buyers pick you. An experienced agent can guide you. Buyers see lots of homes, and it becomes apparent which is the best value for them. Sellers must learn to think like a buyer.

Thinking of Selling?

If you’re thinking of selling your home, always call the Ellis Team. Ask for Brett or Sande Ellis 239-489-4042 Ext 4. Put our decades of experience to work for you, along with the most aggressive marketing in Lee County. There is a reason our homes sell faster and for more money. If you’d like to learn more about the shift, call us for a confidential interview. Experience matters! To get an idea of what your home is worth for Free online, visit www.SWFLhomevalues.com

Good luck and Happy Selling!

Ellis Team Weekend Open Houses

Open Houses Saturday 1-3 PM

Parker Lakes

15212 Palm Isle Dr

14551 Daffodil Dr Unit 1808

Central Park South

9291 Central park Dr Unit 104

Open Houses Sunday 1-3 PM

Cape Coral

1004 SE 5th Terrace Cape Coral

2008 Bolado Pkwy

Naples

13 High Point Cir N Unit 302

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

Open House Saturday 1-3 PM

111 NW 33rd Ave

Open House Sunday 1-3 PM

1742 Ardmore Rd

Open House Sunday 1-3 PM

2008 Bolado Pkwy

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

We get this question a lot? Is it better to list SW Florida home in December or January? The perception is there are more buyers here in season, so why not wait until season when more buyers are here, and the home will be fresher to the market.

The advice we’re about to give might fly in the face of reason, however it is steeped in experience and logic. Yes, more visitors arrive in SW Florida in the seasonal months of January through April. If you look at the closed sales chart, you’ll notice we typically have far more closings in December than we do in January.

Many buyers wish to get their sale in by year end for tax and homestead purposes. It’s not uncommon for us to have a big sales month in December, probably for these reasons.

If we recognize that December can be a good month for sales, we must also recognize what happens each January and February. The listings shoot through the roof. January and February show the largest increase in listing inventory each year. It will happen again this upcoming season.

As a seller, if you’re contemplating selling in the next few months, you are absolutely better off listing now. Buyers are out there. Our team has been busy showing properties to multiple buyers, and we have several offers in the works.

We tell sellers there may not be as many showings in December, but they showings that do occur tend to be from serious home buyers. If the middle of November is any indication, showings this December might increase over previous years.

If sales activity is higher in December than January, and if there is far more listing competition in January, why would you wait to put your home on the market? Statistically you’re better off putting it on the market now.

The answer is, sellers believe the holidays are a bad time to sell a home. And the reality is, many agents believe it to, so they take the month of December off. When they take the month off, it further confirms to them that nobody buys in December because they had no sales.

The same can be said for agents who take the summers off. They believe there are no sales in the summer, and their belief becomes their reality. As you can tell from the chart, summertime closings are some of the best months each year. Why would you take those months off?

But then again, why would you hire a part-time Realtor? To me, a part-time Realtor isn’t just an agent who has a primary job somewhere else and works real estate on the side. A part-time Realtor can also be an agent that takes months off. When you do that, you basically shut your business down. It’s one thing to take a vacation. Everybody needs them. For heaven’s sake, if you’re going to take a vacation, get another agent to cover for you. How would you like to be a seller and find out your agent took the month off?

That’s why having a team makes a lot of sense. If any team member takes a vacation, the rest of the team picks up the slack. The Ellis Team works 365 days per year, and yet not every agent on the team has to. We want each of our team members to take some time off and come back refreshed. It’s all part of offering 1^st class service.

If you’re considering selling in the next 5 months, you should call Sande or Brett Ellis and discuss your options. We’re not saying putting your house on the market today is the best for everybody. We’re just saying be careful about listening to false assumptions. If you’d like to talk, we’re here to help. 239-489-4042 Ext 4. Or find out your home’s value online for free at www.SWFLhomevalues.com

Good luck and Happy Selling!

Ellis Team Weekend Open Houses

Open House Saturday 1-3 PM

13 High Point Cir N Unit 302, Naples FL 34103

In 2018 we’ve been on a recent record pace, eclipsing 2015 levels for homes sold in one year. We haven’t gone back and analyzed against all-time highs more than a decade ago. Since prices and home sales reset after the correction, we’re analyzing against recent records. We believe we’re behind 2005 sales numbers, but not by as much as you would think. SW Florida homes closed YTD slipped slightly in September.

We’ve been trending above 2015 numbers, so what changed? In September of this year we dipped below 2015 levels and that set us back. We only had 922 closed sales in September. Back in 2015 we had 1,078. I think we’ll be able to track where our market is headed by how well it holds up to 2015 levels.

This year we had 968 new pending sales. Back in 2015 we had 1,169. This could be an indicator that closed sales in October may fall below 2015 levels as well. The median price back then was $211,578 and we had 3.7 months supply of inventory. Contrast that with today our median price is $245,000 and a 4.9 month supply of inventory.

What’s different today is median home prices are 15.8% higher than they were 3 years ago, and interest rates were 3.978% and falling in 2015. Today rates are at 4.875% and rising. Rising rates have a way of spoiling home sales in that they rob buyers of purchasing power. At some point they rob sellers too because if the sellers raise prices and rising interest rates also put pressure on buyers, the whole train stops. You can’t have both for very long. When buyers are maxed out, they’re at their limit. With every rise in rates, it could be at the seller’s expense next.

The only thing that can offset this is rising wages. Wages do appear to be on the rise somewhat, but they lag rises in rates. This might explain why home prices haven’t risen since January of 2017. Sure, we’ve seen blips up and down, but statistically they haven’t moved.

How does this affect sellers trying to sell their home? First off, we’ve got a balanced market. Homes are moving if marketed and priced correctly. Perhaps now more than ever marketing becomes critical. Prices are stagnant, interest rates are rising, and inventory is building. Hiring a Realtor who markets is critical. We’re not talking about posting it on all the websites. That’s not marketing. Anybody and everybody can do that. If you’re not sure what we’re talking about, then definitely give us a call. When you sit down and see, it’s easy to understand why our results are different.

This is also the silly season for Realtors. Board dues are up end of the year. Realtors that haven’t marketed or seen results from their lead generation begin shopping around. As a last-ditch effort to save their career, they look to low cost brokerages to reduce fees. Ultimately this doesn’t bring them more buyers or sellers, so they eventually quit, but it does buy them a few more months in the business. Others look to hop on teams that provide leads. Some are so deep in debt even this won’t work because they waited too long. Or, they just don’t know how to close leads.

When selecting a Realtor, ask to see their marketing. Then call us. I bet you’ll see a difference. Ask them how many listings they successfully sold last year. Ask them how long they’ve been with their company. Do they jump around? Will they be at the same company in a month or two? Can you get out of your listing if they move? Ask all these questions before you sign up.

Your best bet is to just call the Ellis Team at Keller Williams Realty the first time. Sure, we help a lot of customers who are on their 2^nd or 3^rd Realtor. Wouldn’t it make sense to just use us first?

Call Sande or Brett Ellis 239-489-40402 Ext 4 or visit www.SWFLhomevalues.com Good luck and Happy Selling!

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