Current homeowners watching interest rates are contemplating whether to make a move in this market. Potential sellers are worried about where they would move to. They are also worried about financing their next home and how much more it might cost if they wait.

Homeowners Watching Interest Rates


We’ve talked a lot recently about how rising interest rates can dampen future prices. Rising rates not only hurt first-time buyers, but they also hurt move-up buyers.  Lateral and move-down buyers are hurt too if they are obtaining a mortgage.

The advice we give is look at your current situation. Do you love your home? Does your current home meet your future needs? If you love your current home and it meets your future needs, moving isn’t necessary. If your current home needs some expensive repair items like roof, air conditioner, water heater, etc. are you prepared mentally and financially to make that investment? Insurance companies are requiring these improvements, so they will not be optional.

6% Rates

Interest rates could increase another 2% or more this year. Waiting might seal your fate in your current home, so asking yourself these important questions are crucial right now. As agents, we are not here to sell you anything or convince you to do anything. These are questions you should ask yourself and answer yourself.

We are here to answer your real estate questions. When a homeowner comes to us with an idea, we help structure a plan to make that idea a reality. Or we point out potential deficiencies in the plan. There is nothing worse than starting a plan and not having it thought through.  We have talked some people out of selling because the back end of the plan didn’t have a realistic end game and we did not want to make the homeowner homeless.

On the other hand, we have helped some sellers devise a plan to accomplish their end goal in ways they didn’t know were possible. For instance, we have some lenders that will lend money at today’s current rates and allow the seller time to sell their existing home, all while only paying one mortgage payment.

Other times we have negotiated lease-back terms favorable to the seller to give them time to make their next move. The point is, there are options current homeowners may not have considered.

We Can Talk

If you are trapped in a home that doesn’t work for you, call Sande or Brett Ellis at 239-310-6500. We can sit down and talk about your situation.  We’ve helped many homeowners in the past because we listen to your situation and provide answers.  Sande and Brett have built their reputation on giving sound advice and not selling outcomes just because we want more sales. When you start with the consumer in mind first, everything just seems to work out the way it should.

Homeowners also like our home valuation website because it gives an instant value of your home. It is fun to track the value each month as the system gives you a new number over time, because the market changes. Many homeowners are not aware of how much their home is worth.

Do not make decisions based off a computer number though. The Ellis Team has been selling homes for far more than appraised value lately, so selling it for appraised value in one day might be leaving tens of thousands of dollars on the table. The Ellis Team uses advanced marketing to reach the greatest number of buyers, not just the ones looking at national portal sites. We can target buyers looking for homes locally and from out of the area. Marketing is more complicated than ever. Anybody can sell a home in 1 day in this market. Few can sell for Top Dollar, and that’s where we come in.

Give Sande or Brett Ellis a call. Interest rates are rising in 2022 so this is the time to ask yourself an important question. After that, you know who to call. Sande or Brett Ellis 239-310-6500

Southwest Florida listing inventory rises in October to 5,157 units, up from 4,829 in September.  That is a 6.79% rise in just one month.  We went back to last year and noticed listing inventory rose 6.09% those same months, so inventory is rising a bit faster this year.

Home inventory was up 16.64% this past September over 2015 and in October it’s up 17.42%.  We’ve been mentioning all year 2016 has been a leveling off and balancing market, so rising inventory isn’t surprising.  In fact, it was predicted.

November statistics won’t come out until next week.  We’ve been studying preliminary numbers and from what we can tell, median and average sales price are going to be fairly even.  Perhaps a small gain on median price and small loss on average price.  However, we can only track Lee County numbers submitted to our MLS.

If our numbers are correct we may see an uptick in number of closed sales in November.  Also frustrating is the fact that they go back and adjust last year’s numbers, so that can influence predictions as well.

Southwest Florida Listing Inventory Rises

Southwest Florida Listing Inventory Rises

We searched active homes on market on December 13th and we found 5,104.  If we add back in the pending and contingent listings we have 5,955. We’ll be watching the official November stats when they are released next week.  As you can tell from the chart, the trendline is up slightly.

Some people believe we’ll see more homes hit the market as interest rates rise.  Others believe we may see less as sellers may decide to stay in their low-cost mortgage.  I can tell you one thing.  If you currently own and your home no longer works for you, the time to list is now.

We need to get your home sold and you into your new home before rates rise again.  They’ve already risen about .75%.  This will cost you more to finance the same amount, so waiting will cost you tens of thousands over the life of your new loan.

Did you know you can search the entire MLS from our website?   It has all the homes, and it’s updated every 5 minutes, so you’ll be the first to know about new homes as they enter the market or change their price.  You can even save your search, and have multiple saved searches in case you’re looking at different options.  We even have a free tool to find out what your home is worth online.

The Ellis Team is also busy meeting with potential sellers.  We counsel sellers on how to get top dollar for their home and how their home should be positioned and marketed in the marketplace.  Sellers are finding out there is a difference and listing with the wrong Realtor can cost them thousands.

Don’t list with a Realtor that doesn’t bring you top dollar.  You might ask, what’s our secret for getting top dollar?  We’d love to show you.  It’s not by accident, it’s by design.

Let us sit down with you and show you how our 30+ years in the market combined with today’s latest technology and aggressive marketing is making a difference for our sellers.  If you think hiring a professional is expensive, wait until you hire an amateur.

Our team is growing.  We have thousands of buyers in our database looking to purchase.  If you’re an agent looking to grow your business, give us a call.  If you’re a potential seller looking to sell before rates go up, give us a call too.  Put our experience and wisdom to work for you.

We’ve been through changing markets before.  Rising rates change the game and knowing how to help buyers and sellers can be the difference to keeping your deals together and saving everybody money.  You can call us at 239-489-4042.  If you’re considering selling, ask for Sande or Brett Ellis.

Good luck and Happy House Hunting!

Southwest Florida Real Estate Market Update December 2016

A few weeks ago we wrote about 5 things a buyer should know about Lee County Real Estate, so we thought we’d follow-up with a version strictly for sellers.  5 Things a Seller Should Know About Lee County Real Estate.

5 Things a Seller Should Know About Lee County Real Estate


  1. Prices are Falling.  Don’t get too alarmed here as it’s not unusual for prices to fall this time of year.  It’s more of a statistical anomaly.  Prices are still up over last year’s numbers, but they are falling monthly.  Next season will be the barometer.  Some sellers mistakenly believe they can ask anything for their property and it will sell.  This is not true.  Its funny how the seller believes their property is worth so much more than everybody else’s property, but when they are the buyer they look at things differently.
  2. We Must Sell Your Property 3 Times.  First, we must sell it to other agents.  If they believe the property is over-priced they won’t show it.  Next, we must sell it to the buyer.  The buyer is the one out looking at all available like kind properties.  If they feel it’s over-priced relative to other similar listings, they’ll make an offer on something else.  Lastly, we must sell it to the buyer’s bank.  The bank orders an appraisal not for the buyer’s benefit but for their own.  If the appraiser says we sold it for too much we’ve got a problem.  If we fail at any of these 3 sales, we don’t have a sale.
  3. Interest Rates are Rising.  This takes purchasing power away from the buyer.  Every 1% rise in rates eats away 9% purchasing power from the buyer.  If there are a limited number of buyers for your home today, rising rates will chip away and steal some of those buyers from you.
  4. Flood Insurance Rates are Going Up. Some say rates could double or triple on certain properties.  If you don’t sell, this could affect your bottom line.  If you do sell, it could affect the buyer’s bottom line, which could influence their offer.  Your home doesn’t have to be waterfront to be affected.
  5. Rising Values Brings More Competition to the Table.  Yes, inventory is limited today, and it has helped propel home values.  As values rise, expect more competition from other sellers whose value rose above water on their current mortgage and can now afford to sell, or from sellers who are just ready now and have waited for values to climb to a certain point.  Builders are now entering the fray because home values have risen enough for them to be able to compete again.


This is actually a good time to sell right now.  The odds of selling right now are as high as they’ve ever been, if your home is marketed and priced properly.  We saw over-priced homes in the height of the Boom fail to sell, and we’re seeing it today.  We are saying we have a good market.  We’re also saying don’t get too greedy or you could be one of those sellers saying I wished I hadn’t over-priced my home back when the market was good.  Real estate works in cycles, and we’ve heard this repeated too often.


If you’re considering selling and would like for us to sit down and meet with you, simply give us a call at 239-489-4042 or visit
Feel free to search the MLS at Good luck and Happy House Hunting!!!

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