Lee County Florida Real Estate Blog

Tax Changes Coming Could Affect Sales in SW Florida

2012-01-13T11:23:00.002-05:00

Did you know that beginning January 1, 2013 the IRS will begin taxing forgiven debt on short sales and foreclosures as taxable income? They will. This is how it used to be, but in 2007 the Mortgage Relief Act alleviated this for sales of primary residences.

Read all about it at Important Tax News Could Save You Thousands

Watch our January 2102 SW Florida Real Estate Market Report

Search SW Florida MLS for Free

Ellis Team Releases New SW Florida Daily Newspaper

2011-09-20T15:36:00.002-04:00

Check out SW Florida's newest daily online paper,
The SW Florida Daily News. We'll update this everyday
with news you can use from Southwest Florida.

September 2011 SW Florida Real Estate Video Market Update

2011-09-15T17:17:00.000-04:00

We just posted a video update on the state of the SW Florida real estate market which covers Fort Myers real estate, Cape Coral real estate, Ft Myers Beach, Bonita Springs and all of Lee County.

Distressed sales are up in August which could affect prices when official numbers are released next week. Inventory continues to fall. Watch video to get updates on all this and more.

Ellis Team Adds Short Sale Specialist as Banks Gear Up For More Short Sales

2011-07-26T20:49:00.000-04:00

The Ellis Team recently hired Marisa Morgan, a long time Bank of America Mortgage lender to assist with the banks growing desire to close more short sales instead of foreclosures. Marisa found herself answering questions from Realtors on how to properly package short sales so the lender would take the offer instead of foreclosing, and she brings that experience to SW Florida and The Ellis Team at RE/MAX in Fort Myers, Florida.

Brett recently wrote an article that will be published in the Fort Myers News Press this weekend entitled Banks Revving Up For More Short Sales. It explains in details the intricacies of a short sale and what to look for in packaging the deal to the lender. Brett and Marisa also discussed short sales in Cape Coral and Fort Myers on the Future of Real Estate Show entitled "Banks Gearing Up for More Short Sales in Fort Myers, Cape Coral, SW Florida"

SW Florida Real Estate Inventory Falls Again

2011-06-16T09:16:00.002-04:00

Listing inventory in SW Florida has been falling by 500-1400 units per month in 2011. Latest inventory levels have just been released, and once again levels have fallen another 4.38% last month alone.

Each week we release data that we post in the News Press on our Topagent Blog. Look for the media to start picking up on this developing trend in the Fort Myers Cape Coral real estate market.

SW Florida Distressed Sales Now Less Than Normal Sales

2011-05-18T09:07:00.002-04:00

A new report published by the Ellis Team at RE/MAX Realty Group in Fort Myers Florida details that for the first time in years distressed sales in April 2011 were less than traditional or normal sales. Distressed sales fell to 45% of the overall single family market.

Read the full report

Distressed Sales Now Less Than Traditional Sales in SW Florida

Fort Myers and Cape Coral Real Estate Update Video

2011-04-07T14:00:00.002-04:00

This week's Future of Real Estate video show focuses the SW Florida real estate market, particularly Cape Coral and Fort Myers, but also Bonita Springs, Estero, Sanibel Island, Fort Myers Beach and others.

We show graphs illustrating pending home sales, sales prices, closed sales trend lines, and much more. Tune in and watch this week's show.

Our check out our website Topagent.com where you can search MLS watch videos, and learn about SW Florida.

Using QR Codes to Market Real Etate Video

2011-02-13T13:02:00.002-05:00

WINK TV recently did a story on using QR codes to market real estate. Watch how this new technology puts power in the hands of the mobile phone user.

http://www.youtube.com/watch?v=y1aqfGBBZrE

To learn more about QR codes and how they work, read more at http://blog.topagent.com/2011/02/10/new-ways-to-market-real-estate-using-qr-codes/

Beautiful Fort Myers Home

2010-11-23T14:28:00.006-05:00

AWESOME AND THEN SOME! Amazingly updated 4 bedroom, 3 bath, heated pool home with beautiful slate tiled lanai and Bamboo floors throughout. THE UPGRADES:Gourmet kitchen features Kraftmaid cabinetry with pull-out drawers for maximum storage, granite counter tops, micro-convection oven, warming drawer, 2 drawer Fisher & Paykel dishwashers, wine refrigerator. Luxurious master bath with custom tiled shower and jetted tub. Also custom his/hers closets. New lighting and fans throughout. Home protected with hurricane panels and windows. Terrific floor plan offers privacy for all! And tennis lessons delivered to your own community. Note the children's playground.

Waterfront Condo in Lee County

2010-11-17T14:12:00.002-05:00

Gulf Access Condo! And with a rubberneck you can see the water. Close to shopping,and restaurants. Very well kept two bedroom condo with private secure foyer entrance. Spacious rooms and plenty of closet space. Recent upgrades include replumbed, newer stove, dishwasher, water heater and interior paint. Spacious lanai overlooks tropical setting around pool and shuffleboard. Condo dock space is first come first serve. This unit is perfect for winter resident or retirees.$3100 roof assessment paid! Get all the details here

Lee County Waterfront Real Estate

2010-11-17T13:47:00.007-05:00

Lovingly cared for canal front home with direct Gulf access sits on a large corner lot with fruit trees and plenty of room for a pool. As you enter you notice the screened front porch with water features which can be enjoyed from the large living area. This North Fort Myers home boasts 2 masters each with their own bath with sunken tub/shower combos. The eat-in kitchen offers newer cabinetry, plus formal dining area. The large Florida room overlooks the canal, dock + davits. For more information go here

A Gem in Reflection Lakes

2010-11-15T10:07:00.004-05:00

Looking for great real estate values? Then Lee County is the place to look! Check out this second floor, 3 bedroom, 2 bath Carriage home in beautiful Reflection Lakes. There are upgraded stainless appliances in the kitchen and easy care, wood-like laminate floors in living areas. The Master suite has a luxurious bath with separate shower, tub, dual sinks. To get all the details go here

Pine Island, A Lee County Jewel

2010-11-15T09:50:00.007-05:00

Award winning floor plan in St. James City on Pine Island where progress does not thwart nature. If you are a name dropper, you might mention living down the street from the Bald Eagle family- tending their nest. Trade the corporate hustle for serenity-nothing can be built across the street. 7500# or 10,000# boat lifts provide the perfect escape for a day of fishing or island hopping. Muscles aching from catching the big one? Relax in your own private hot tub/spa. If not by boat bring out the float- for the disappearing edge pool. Gorgeous as the pool water appears to cascade into the canal. You might want to keep your new address a secret as this very open design lends itself to entertaining on a grand scale. Go here to get more details!

Stunning Lee County Home

2010-11-10T10:56:00.009-05:00

Live the Florida dream in this lovely three bedroom, three bath, pool home. Fabulous location, close to river. Enjoy your private boat lift, 200 yards to the river. Minutes to gulf. Home is loaded with updates. Gated Community. Must see!! For all the details go here!

Incredible Values at All Price Points

2010-11-10T08:43:00.008-05:00

This gorgeous 3 bedroom, 3 1/2 bathroom Lee County home is a Short Sale. Professionally done! Give it a 10! The Verandah is a beautiful community offering golf, tennis, fine dining, fitness center, nature trails and so much more all in a fantastic location. Enter the community and drive along the winding roadway edged with plush greenery to the circular driveway up to the 2 1/2 car garage. Once in this stunning home you'll find yourself gazing from floor to ceiling and all points in between. It is a terrific floor plan with every upgrade and gadget. The great room opens to the pool and the outdoor family room complete with fireplace! Call it gracious and comfortable. You will love the custom kitchen and awesome cabinetry, all the upgraded fixtures, the granite, the decor...what's not to like? I could go on and on, but I'll leave it up to you to discover the master bedroom and explore the rest of this gorgeous property. All of this and at a price will below what you may think. Get all the details here!

Lee County Real Estate Offers Excellent Opportunity

2010-11-09T14:50:00.006-05:00

This 3 bedroom, 2 bath Cape Coral home is a Short Sale. This family home sits in a nice area of homes. Kitchen has been remodeled with new floors, cabinets, counter tops and appliances. Newer tile in wet areas. Go here for more information!

Good Deals Still Exist in Lee County Real Estate

2010-11-09T12:37:00.011-05:00

Take for example this 3 bedroom 2 bath home in Lehigh Acres. It doesn't get better than this! This beautiful home has never been lived in and is the Belvedere floor plan by First Homes. You will love the computer tech center-ideally located. It's an open floor plan with upgraded kitchen cabinets. Appliances will be installed at closing. Go here to get more information on this fantastic opportunity.

SW Florida Real Estate Market Update September

2010-09-16T11:20:00.003-04:00

This week's Future of Real Estate Video Show focuses on the September 2010 SW Florida Real Estate market. In this report we focus on pending sales as they are an indicator of potential future closings, as well as current available listing inventory and put it in historical perspective.

We've seen many reports lately by those who don't track inventory numbers closely so we decided to clear up some of these discrepancies. We've changed the format and gone to a high definition format. Next time we'll work on making sure the screen captures the entire graph.

The graph covers inventory in Fort Myers, Cape Coral, Lehigh Acres, Bonita Springs, Estero, and all of Lee County Florida real estate.

Visit our website Topagent.com for more information on Lee County real estate, or feel free to search the SW Florida MLS

Florida's Immigration Law

2010-08-25T14:48:00.004-04:00

Lee County Florida Sheriff Mike Scott answers tough questions on this week's Future of Real Estate Video Show.

We ask Sheriff Scott how he enforces traffic stops, how Arizona's immigration Law affects Florida and trafiic stops. Sheriff Scott also answer questions about his budget, red light cameras, school resource officers, and much more. See how his answers affect Fort Myers and Cape Coral real estate. We've broken them into 3 videos.

Property Values Rise in SW Florida in 2009

2010-02-23T12:58:00.005-05:00

Overall property values rose in 2009. Check out Pg 4 of the SW Florida State of the Market Report and you'll see the numbers.

New videos were just released illustrating what changes 2009 ushered in and what to look forward to in 2010. View Video 1 Market Update Video From there you can view other submarket videos in Lee County Florida, or view Video 2 overall market update as well.

View a detailed analysis on all 5 Market Report videos for quick information on SW Florida real estate.

SW Florida Housing Market

2009-05-19T08:31:00.004-04:00

The SW Florida real estate market has been heating up for several months. Last month set records for sales, and bank foreclosures have been a main reason. People from all over call us and ask how they can get in on these good deals. We've recently added search functionality on our MLS property search website which allows consumers to search only the bank foreclosures now.

Did you know you can search for bank foreclosures on your own? You can. Here are a few links to get you started:

Cape Coral Foreclosures Under$100k
Cape Coral Waterfront Foreclosures
Fort Myers Bank Foreclosures Under $200k
Fort Myers Bank Foreclosures $200k & Up
Reflection Lakes Foreclosures
Lehigh Acres Bank Foreclosures Under $100k
Lehigh Acres Bank Foreclosures $100k & Up

Video on Short Sales in Fort Myers and Cape Coral Florida

2009-04-14T07:34:00.003-04:00

The Ellis Team at RE/MAX Realty Group just released a video on buying and selling short sales in SW Florida. Banks look for certain things when determining whether to let a short sale go through, and industry experts Brett Ellis of the Ellis Team at RE/MAX Realty Group in Fort Myers Florida and Adrian Jacobs of Countrywide Home Loans in Fort Myers Florida details what that criteria is in this new video and how to be successful buying and selling short sales in SW Florida.

Visit our Blog for the latest on what's happening in SW Florida real estate, or read the article about the video.

Make A Wish Foundation Charity Event in Naples at Galerie Du Soleil Art Gallery

2008-10-16T12:53:00.000-04:00

Galerie Du Soleil Art Gallery in Naples is hosting a charity even Saturday October 25 for the Make a Wish Foundation whicg grants wishes for children with emergency medical situations. The even will be from 6-9 PM, and food and wine will be served along with a band. The Even is named Wish to Your Arts Desire

Tickets are only $45 and includes wine, food, and music. To order your tickets call 239-417-3450 or e-mail Deanne Martin at Deanne@GalerieduSoleil.com A copy of the brochure can be viewed here.

Food provided by Handsome Harry’s, Campiello’s, Ridgeways and Tommy Bahama.

Sponsored by Naples Packing and Shipping, Bellasera Hotel, Bentley Motors of Naples, Architects Unlimited and Robb & Stucky. Other generous donors include: Amanda Jaron Jewelry, Naples Illustrated, Remax/Ellis Team, The Bob Harden Show, Evelyn and Arthur Boutique, Mac Furniture, Olde Naples Chocolate, Vergina on Fifth Avenue, Naples Princess, Lely Resort, Pazzo! Italian Cafe, Trilogy of Naples, Cafe Luna, Femmes Je Vous Aime, Seraphim Boutique, Julie’s of Naples, Ava’s Flowers, Chop’s, Yabba Island Grill and Blue Water Bistro.

SW Florida Bank Foreclosures Helping to Add Pending Sales to the Market

2008-03-22T07:15:00.000-04:00

The Ellis Team SW Florida real estate Current Market Index has just been released, and pending sales are up significantly again, helping to lead the Index down sharply again in March. SW Florida bank foreclosures are helping to bring affordability into the market. Chec out the Ellis Team at RE/MAX Bank Owned Bargains page to get an idea of what some of these brand new homes that have never ben lived in arre selling for.

SW Florida Real Estate Market Numbers Realeased Today

2007-05-25T12:19:00.000-04:00

Statewide Florida real estate numbers were just released by the Florida Association of Realtors. SW Florida numbers are included. Read entire Blog article along with Expert commentary on the SW Florida Real Estate Market.

View Month over Month SW Florida Real Estate Median Prices Graph.

View SW Florida Real Estate Homes Closed 2005-2007 Graph.

View SW Florida Real Estate Sale Prices 2005-2007 Graph.

First Home Blamed for Bringing Michigan Lender Down

2007-04-10T09:39:00.000-04:00

Read entire story and links to Fort Myers News Press article regarding SW Florida Builder First Homes and Michigan credit union.

SW Florida was one of the hottest housing markets in the country, and with that came overbuilding by several builders and investors who failed to accurately evaluate the market. This is a classic example of the "What a Bigger Fool WIll Pay" theory until finally the market collapsed under it's own weight. The rebalancing of the SW Florida real estate market is a healthy thing, although we have seen much pain along the way and the First Home crisis is just another example.

SW Florida Real Estate Numbers

2007-03-31T23:18:00.000-04:00

Latest numbers released by The Ellis Team at RE/MAX Realty Group in Fort Myers Florida shows the reality of how the SW Florida market is performing.

Homes Closed in 2007 is below both 2005 and 2006 levels. Real Estate Prices are between 2005 and 2006 levels, and month over month changes are quite interesting to watch to spot the latest developments. For more SW Florida Housing Statistics, check out our Housing Statistics Webpage.

Feel free to search the Fort Myers and Cape Coral MLS, or visit our Top Agent Website for more SW Florida information.

Record Numbers Protest Lee County Florida Property Taxes

2007-03-28T07:28:00.000-04:00

Lee County Florida experienced 2,896 property tax appeals for 2006, in which only 250 were granted. It was a record year as property owners became frustrated by the rising taxes they're paying each year as property values have increased dramatically, while politicians haven't lowered the tax rate to compensate for the steep rise in property values.

2007 will be a different year as assesses values should decrease. Assessed values are based upon the value January 1 of each year, and 2006 was a year in decline, so Jan 1, 2007 numbers should reflect a change downward, although we won't see those numbers until later in the year.

Ellis Team Featured Speaker at RE/MAX Inernational Convention 2007

2007-03-19T00:43:00.000-04:00

Brett Ellis of the Ellis Team was a featured speaker at the RE/MAX International convention in Atlanta March 2007. Brett spoke on the topic of Blogging for Fun and Profit. The event was taped for later broadcast on the RE/MAX Satellite Network which is beamed to agents worldwide for training purposes.

Search all SW Florida Real Estate Listings in MLS
View Ellis Team website
SW Florida real estate housing statistics
Future of Real Estate Weekly Radio Show
View our Blog

RE/MAX of FLorida Names Ellis Team Top Agents in State

2007-03-19T00:12:00.000-04:00

RE/MAX of Florida announced that The Ellis Team in SW Florida were RE/MAX's top agents in the state in 2006 for closed transactions. The Ellis Team closed more than 1 home per day.

The Ellis Team makes it easy to search for homes on the MLS in SW Florida.

2007 SW Florida Real Estate State of the Market Report

2007-02-15T08:06:00.000-05:00

Our annual State of the Market Report was released yesterday covering real estate in SW Florida. Additional in-depth analysis and predictions can be found in our online supplement.

Brett Ellis
Ellis Team
RE/MAX Realty Group
Fort Myers, FL

SW Florida Real Estate Report - October

2006-11-28T13:48:00.000-05:00

SW Florida Real Estate sales numbers were just posted. The SW Florida real estate market appears to be leveling off. Click here to read entire article.

SW Florida Real Estate Report

2006-10-29T10:20:00.000-05:00

Click here for the latest SW Florida real estate news. Click here for latest SW Florida inventory levels.

SW Florida Real Estate Report

2006-10-29T10:19:00.000-05:00

Click here for the latest SW Florida real estate news. Click here for latest SW Florida inventory levels.

SW Florida Real Estate Report

2006-10-29T10:17:00.000-05:00

Click here for the latest SW Florida real estate news. Click here for latest SW Florida inventory levels.

SW Florida Real Estate Sales August 2006 Update

2006-09-25T15:23:00.000-04:00

Here is the latest Home Sales information for SW Florida real estate for August 2006. Great links to entire State of Florida home sales data, as well as Fort Myers and Cape Coral Florida home sales information.

Florida Home Sales Report July 2006

2006-08-23T13:23:00.000-04:00

Find out what's happening across Florida and in particular in Fort Myers, Naples, and Cape Coral Florida real estate markets. Full Story Here.

Lee County Florida Real Estate Blog is Moving

2006-05-09T00:25:00.000-04:00

This Blog is moving locations to http://blog.topagent.com We will leave current posts here, but all new posts will be at the new location. Please add it to your bookmarks. Thanks for reading and commenting with us, and we look forward to seeing you at the new location.

Brett Ellis

Cyber Professionals Annual Meeting

2006-05-04T16:25:00.000-04:00

CyberProfessionals held their annual meeting May 4th and 5th in Annapolis, MD. CyberProfessionals are leaders in using technology and sharing marketing ideas in the real estate industry.

Brett Ellis of The Ellis Team at RE/MAX Realty Group, leading agents in SW Florida real estate, attended the meeting.

We always enjoy attending this meeting. We enjoy networking and sharing Top ideas from other Top Agents in the industry. Each year we focus on new marketing techniques and ways to make our clients properties stand out, and this year was no exception.

Not only do we focus on marketing, we also focus on better communication with clients, and ways to make our team more efficient. The end result is our clients benefit in untold ways.

Categories: Cyber, Professionals,, Annapolis, MD,, Top, Agent,, Tech, Savy, Realtors,

Search Reflection Lakes Homes in MLS

2006-04-11T16:42:00.000-04:00

Great article on hoe to search for homes in the MLS in Reflection Lakes in Fort Myers, Florida. You can search other real estate in SW Florida as well.

Categories: Search, Homes, Reflection, Lakes, Fort, Myers, Florida, MLS, SW, FLorida, real, estate

New SW Florida Blog Site

2006-04-09T23:35:00.000-04:00

The Ellis Team has started a new comprehensive weblog for SW Florida real estate and other local issues. The Blog can be found at http://blog.topagent.com The new Blog has many features, including news and information from a variety of sources, subdivision info, and links to schools, county government and more.

Categories: SW, FLorida, Blog, Site, Ellis, Team, real, estate, schools, government, links,

Mixed Report on Home Sales

2006-03-23T11:24:00.000-05:00

The Florida Association of Realtors reported home sales for Florida today. They reported a 9% slowdown in single family homes for the Fort Myers/Cape Coral area and a 44% slowdown in condo sales from February 2005. Single family home sales were down 9% from January 2006, and median price was down 2.54% from January 2006.

Condo sales were down 44% from February figures last year as mentioned above. Condo sales were down 14% from January 2006 numbers as well. Median price was actually up 12.78% over January 2006 numbers.

The Ellis Team at RE/MAX Realty Group has reported an increase in sales over last year. This is partially due to a "Flight to Quality" when the market conditions change. Consumers are no longer willing to settle for an agent or company who is perhaps the lowest price. Sellers are demanding more service, more advertising, and better negotiating skills, and just won't settle for less. Sellers realize in a Hot market they could attempt to go with an agent who provided less services, because if the first deal fell through, there were other buyers waiting.

This isn't true anymore. Sellers want aggressive marketing. They realize inventory has risen, and buyers now have choices. They want to be first in line, not at the back of the line. This is why pricing, and the choice of the Listing agent becomes crucial. It really does matter who you list your home with, what services they will provide, and what counseling you will get. The expertise you receive from a seasoned experienced agent varies vastly than from soomeone who hasn't been in the business long enough to see up, down, and sideways housing cycles.

We'll provide some of these differences in a subsequent post.

Categories: Mixed, report, home, sales, ellis, team, up, florida, association, of, Realtors, flight, to, quality, advertising, condo, sellers, marketing, aggressive, experienced, agent, pricing, listing

Article on Limited Services Brokerages

2006-03-16T16:17:00.000-05:00

Are limited service brokers the good deal they advertise themselves to be? A study out of Texas suggests no. The study proves that homes sell for more money the more experience the agent has, among other things. And discount brokers get less for their homes, actually costing the sellers more money than the comission they saved.

So the question is, did the seller really save anyhthing, or did it cost the seller? Answers are provided in the linked article.

Categories: Limited, Services, Broker, Study, discount, experienced, agent, real, estate

RE/MAX Top 100

2006-03-10T23:45:00.000-05:00

The Ellis Team was recently awarded Top 100 Team Internationally out of more than 115,000 sales associates.

The Ellis Team ranked #46 U.S. and #54 Internationally again in 2005. It is a great honor to represent RE/MAX and accept this award. We strive each year to offer the best service, marketing, negotiating, and customer experience to our clients, and each year our hard work and dedication pays off.

We also enjoy sharing with other agents around the country our secrets to success. We feel by sharing what we do well, we help raise the bar for the entire industry, and that makes us all better; Realtors and consumers alike.

We continue to speak and teach at various conventions, Universities, and workshops. By teaching you also learn, and it's also great networking opportunities. Many agents across the country refer to the Ellis Team, which in turn helps our clients sell their homes faster.

If you're looking to buy or sell a home, lot, condo, second home, or investment property in SWFL, please call us. 800-860-4042 We can help.

Categories: RE/MAX, International, Top, 100, Team, worldwide, Ellis, Brett, Sande, Realtor, SWFL, Florida, Lee, County, homes, properties

RE/MAX Convention Announcement

2006-03-06T23:23:00.000-05:00

Major news unveiled at RE/MAX Convention. For the first time in history, and due to public demand, RE/MAX will offer every listing in MLS accross America on their website, www.remax.com It is a large project, and will be phased in. Other companies, like Realtor.com, have tried unsuccessfully to include all listings. Entire boards were able to opt out of Realtor.com That will not be the case with Remax.com as they are working at the broker and board level.

This is a bonanza for the consumer, because now they will have one place to look for current listings, as well as past sold listing data, demographics, neighborhood information, community, and school information.

This extraordinary announcement helps in another way too. Many unsuspecting consumers would log on to various websites in hopes of obtaing information. What they didn't realize is these websites were collecting their data and then selling to the highest bidder. As a real estate agent, we can't begin to tell you all the offers we receive to purchase consumer data collected from these sites.

The shame of it all is the conusmer thinks they're being referred to the best agents around. Truth is, they were referred to the agent willing to pay the highest referral fee. Because the Best agents have business, they would always pass on the high referral fees. The consumer was left with newer agents or agents who could not attract much business on their own and would take any business at all just before starving. This didn't insure quality service, and in fact, left many consumers with a bad taste in their mouths.

RE/MAX has long been known for the Top agents in the business. By going directly to Remax.com, you'll be assured of getting a good agent, one who isn't the high bidder for your data. In fact, the data will never be sold. All data collected goes directly to agents in the field to help you. It is not sold to third parties. You also get to remain anonymous until you're ready to contact an agent. This keeps you as the consumer in control.

RE/MAX has a long history of moving the market, and this is one move the customer will surely love.

Of course you can view all listings in Lee County simply by visiting www.LeeCountyOnline.com All data provided stays with us, and is never sold. Let us know how we can help you.

RE/MAX Convention

2006-02-25T23:06:00.000-05:00

If there's Big news in real estate, typically it is announced at a RE/MAX convention, the world's most successful real estate company in the World.

RE/MAX not only donminates North America, but also countries accross the globe, and with their significant dominance in the worldwide marketplace, it matters when they make major anouncements.

Each year at convention it is not uncommon for us to learn about major news events, and we'll be sure to pass them along. We'll post to this Blog, and our engineer has armed us with fancy equipment so we can report directly from the floor an interview powerful newsmakers as the news is announced,

Tune in in SWFL to AM 1240 Saturday at 11:00 AM and AM 1270 in Naples. For those outside of SWFL, our radio show is Podcast under Future of Real Estate-SWFL in Itunes, as well as the Podcast Directory.

Categories: RE/MAX, Convention, announcement, radio, show, Podcast, SWFL, homes, news, major, news, real, estate, company

2006 State of the Market Report

2006-02-21T23:55:00.000-05:00

The real estate market is much like a finely tuned jet airplane. To fly at optimal speed and efficiency, the pilot sets the course at optimal altitude, which provides for greatest speed and least resistance. The SW Florida real estate market flew at high altitude from 2001-2003. In 2004, the jet airplane transformed itself into a space shuttle and left the earth’s atmosphere. For two years the shuttle flew at super sonic speed, at altitudes never experienced before.

2005 was a year where nothing could stop the shuttle. It was flying faster than the engineers said it could, and seemed unstoppable; until the oxygen sprung a leak. Suddenly, the shuttle was forced to return to earth as there wasn’t enough oxygen to sustain this altitude. Like all re-entries, it can be bumpy and chaotic. The 4th Quarter of 2005 wasn’t bumpy or chaotic. It was as if the world had stopped, and we were flying in slow motion. Speed and altitude dropped quickly. Once the shuttle emerged on radar, it didn’t fly like a loud and confident jet airplane. It felt more like a hot air balloon, drifting slowly, silent and quiet, awaiting word on its future course from the tower. The tower didn’t answer. The flight became choppy in the 1st Quarter of 2006 when everyone realized we were back to flying at earthly speeds and altitude. Sellers began to grasp the gravity of the situation, and made adjustments.

The final altitude has not been set. Once our market finds its optimal altitude, it will once again be in balance. Once our market reaches balance, it will again rise, fly at great speeds and take us all to new heights. No one can say for certain what the correct altitude for this market is, or exactly when we will reach it. One thing we can say with certainty is that the market is balancing itself right before our eyes, and quickly. We are starting to see activity pick up again, either from pent-up demand or price corrections, or both. Once the plane levels we believe we’ll be in for another long and smooth ride. This plane will never land.

Download the full State of the Market Report

Categories: State, of, the, Market, Report, transition, price, correction, swfl, Lee, County, Homes, real, estate, Florida

Florida Homestaed Exemption Due Soon

2006-02-13T00:36:00.000-05:00

If you purchased a home in Florida in 2005, you'll want to file for the Florida Homestead Exemption. Not only will you save approximately $400/yr in taxes, you'll also cap the amount your taxes can go up each year. If you do not file, there is no cap.

To be eligible you must have purchased the home by December 31, 2005 and use the home as your primamry residence. Lee County Florida has a Homestead Exemption Form you can download. Florida is very strict about the property being your primary residence, and they will prosecute you if you cheat. Lee County hires investigators who search for rental listings on the Internet, etc. They even invite the public to tell if they suspect a neighbor is cheating on the exemption, so you only want to fill out this form if you really qualify.

If you purchased in 2006, you'll have to wait until next year to file. If you purchased prior to 2005 and have not filed yet, you still can. If you qulaify, it's a wise decision to file. Do not wait as it can cost you much more than the $400/yr because you won't get the cap.

Florida has two bills pending in the legislature regarding Homestead Exemption Portability. We'll cover what these bills mean to you in a future post.

Categories: Florida, homestead, exemption, real, estate, property, taxes, SWFL, Lee, County, appraiser

2006 Will Be a Year of Transition

2006-02-07T23:43:00.000-05:00

Look for 2006 to be a year of change. It changed from a "sellers Market" to a "Buyers Market" seemingly overnight. The reasons are many, and we predicted this was coming last September.

Recently we did a news story for NBC-2. Find the story Here.

Soon we will be publishing our State of the Market Report. To receive a copy, simply call our office at 239-489-4042 and we'll mail you a copy. A few of the graphs from the State of the Market Report were used in the NBC story.

If you are buying or selling real estate in Lee County Florida, you'll definitely want to find out the latest on the market. The market is changing fast, and there will be winners and losers. 2005 was a year of all winners. 2006 will still have lots of winners, unfortunately there will be some losers as well.

Categories: 2006, transition, sellers, market, buyers, NBC-2, news, story, State, market, report, buying, selling, real, estate, winners, losers, Lee, County, Florida

Real Estate Numbers May Be Inflated By Duplication

2006-02-03T23:44:00.000-05:00

The Ellis Team and NBC-2 broke a story of concern regarding reported housing statistics reported by the Florida Association of Realtors. These numbers have been unintentionally inflated due to multple MLS boards reporting sales on the same home, because the listing agent listed the property into more than one MLS.

When the Realtor closes out the sale in MLS, each MLS reports a sale up to FAR (Florida Association of Realtors). FAR compiles the data and releases a report and chart for the entire state. The report each MLS sends to FAR is raw data, a compilation of summary totals. There is currently no way for FAR to realize the duplicate reportings, so the end report contains inflated data.

This is important for a few reasons:

#1. Billions of dollars worth of decisions are made in the SWFL real estate market, and these numbers are one of the benchmarks builders, developers, investors, businesses, and the buying and selling public use to make decisions about building shopping centers, businesses, homes, communities, and what product mix and at what price points.

#2. Once the duplication problem is rectified, 2006 may appear to be a much worse market because it won't appear to stack up against 2005, even though 2005 was artificially higher than it really was.

#3. The general public reads that homes appreciated at a certain pace, so they believe their home is worth a certain amount. All real estate is local, so because the overall market was believed to be at a certain appreciation rate, it never was fair to expect every home appreciated at the exact same rate anyway. However, the entire market may have been accidently exagerated, so sellers shouldn't draw conclusions about today's market based upon inaccurate data.

If you're considering buying or selling in today's market, it pays to consult a professional. Making a mistake in today's market can cost you in untold ways. We'll discuss how in a later article posted on this Blog.

Categories: NBC-2, houses, statistics, Florida, listing, agent, MLS, buying, selling, real, estate, numbers, inflated

SW Florida Real Estate Podcast

2006-02-02T00:42:00.000-05:00

Liesteners have grown accustomed to tuning in to our weekly radio show Saturday's at 11:00 on AM 1240 Ft/Myers and AM 1270 Naples WINK WNOG. Each week we cover real estate issued affecting you, and we explain complex real estate issues and break then down so everyone can understand how they affect the market.

Our show has been broadcast over the air and wordlwide on the Internet for over 3 years. Recently, we took it a step further and have Podcast the show. Simply go to iTunes and search their Podcast for Future of Real Estate- SW Florida or go to www.podcast.net and search for Future of Real Estate and you can subscribe to the show for free.

When you subscribe to a Podcast, your computer will automatically download new shows as soon as we post them, so you don't have to worry about a thing. You'll never miss the latest news, and you won't have to sit by the radio Saturday's at 11:00 to find out what's going on in Lee County Florida Real Estate. It's kind of like TIVO for the radio.

Try it, it's handy, and it's free.

Categories: Podcast, 1240, 1270, WINK, WNOG, Radio, show, Ellis, Team, weekly, Brett, real, estate, Lee, County, SWFL, Fort, Myers, Cape, Coral, Naples

Lee County Florida Real Estate Rises 44% in 2005

2006-01-26T15:25:00.000-05:00

Lee County's median price rose 44% in 2005, from $192,700 to $278,200 The number of sales increased 26% from 9,612 in 2004 to 12,123 in 2005 making 2005 another record breaking year. To read the full story, click on the link.

To view a chart of Florida Year End sales statistics, click here.

State of the Market- Mini Update

2006-01-25T10:50:00.000-05:00

State of the Market-Mini Update

Here is a look at Inventory levels from random past dates and today. Active represents Active listings by date, and Pending represents properties that were under contract for sale at the time. CMI represents our Current Market Index, which accurately predicts where the market is heading. See Below for Commentary.

Fort Myers Geo Areas
	ACTIVE	PENDING	CMI
6/20/2003	819	378	2.17
8/7/2003	768	337	2.28
10/15/2003	825	303	2.72
12/14/2004	494	295	1.67
4/1/2005	435	428	1.02
7/25/2005	398	350	1.14
9/29/2005	490	267	1.84
10/25/2005	626	200	3.13
1/24/2006	1338	210	6.37
dddd
Cape Coral Geo Areas
	ACTIVE	PENDING	CMI
6/20/2003	1575	805	1.95
8/7/2003	1463	733	2
10/15/2003	1593	651	2.45
12/14/2004	886	581	1.52
4/1/2005	1006	894	1.13
7/25/2005	1020	971	1.05
9/29/2005	1653	751	2.2
10/25/2005	2141	605	3.64
1/24/2006	3926	537	7.31

As you can see, inventory is rising quickly, and the market has swung from a Hot sellers market to a buyers market. The CMI index in October predicted the market would slow, and as you can see, Active listings have swelled while Pending sales have dropped.

We are seeing about a 5 to 1 ratio of new listings entering the market each day to number of homes that go pending, which has lead to a dramatic increase in inventory. How much will this build-up affect prices? Stay tuned and we'll post more Mini-updates on what is happening in SW Florida Real Estate.

Note, we selected certain geographic areas inside our MLS system for same sales comparisons. The Fort Myers and Cape Coral Geo areas do not encompass the Entire Lee County market, there are actually many more listings than what is shown here. We do feel, however, this is an accuratae representation of what is happening all over SW FLorida, regardless of which Geo area homes are located in.

To search for homes for sale, feel free to shop at www.LeeCountyonline.com

NAR Study Commentary

2006-01-22T01:03:00.000-05:00

This study confirms what we already know. Sellers who use Realtors sell their homes for 16% on average more than sellers who try to sell their own home for the same types of home. This more than pays the fee, not to mention the time, effort, and money spent advertising. It also helps to close the first deal instead of the 3rd or 4th, and it make for less stress throughout the process. These are all facts and have been documented for years.

A reporter asked me why a buyer would use a Realtor given that so much information is available via the Internet. My response was this:

Even with all the sources available on the Internet, you can still only get about 60% of what you need to know. Even if you were able to obtain the 60%, you'd have to do it on each and every property to make the best decision, and the best proeprties would be long gone by the time you did all that. Once you go for all this information, it becomes information overload and analysis paralysis. Buyers resort to using a professional to sort through the maze of tangible data.

Then there's the intangible data people look to a professional for. Questions like, What used to be here before this development, what is the zoning across the street, what will my house back up to, what is the reputation of the builder, what is the quality of construction, will this home be hard to resell, will the roads get busier, what is the reputation of the schools, what types of financing are available to me, should I buy this home or one of the others we looked at, etc... The list goes on and on.

Buyers want to make the best decision for their family. 77% of buyers look to the Internet first when shopping for a home. Internet buyers tend to be more sophisticated, and they don't like un-answered questions by their very nature. They love to use the Internet to do as much research as they can, and they don't settle for unanswered questions. These are the very people who realize they need a qualified agent the most.

More buyers are selecting their agents from the Internet. They're looking for reputation, responsiveness, and product knowledge. We'll profile Internet buyers more in a subsequent post.

Brett Ellis is an E-Pro Certified Realtor.

Home Buyer & Seller Survey Shows Rising Use of Internet, Reliance on Agents

2006-01-18T11:19:00.000-05:00

Home Buyer & Seller Survey Shows Rising Use of Internet, Reliance on AgentsWASHINGTON (January 17, 2006) – Technology is transforming how Americans buy and sell homes in unexpected ways, including how they work with real estate agents and brokers, according to one of the largest surveys of real estate consumers ever conducted. The study was released today by the National Association of Realtors®.Nine out of 10 home buyers use a real estate agent in the search process, but use of the Internet to search for a home has risen dramatically over time, increasing from only 2 percent of buyers in 1995 to 77 percent in 2005; it was 74 percent in 2004. The next largest source of information for buyers is a yard sign, mentioned by 71 percent of buyers.When asked where they first learned about the home purchased, 24 percent of buyers identified the Internet, up strongly from 15 percent in 2004 and only 2 percent in 1997. Although most buyers use an agent to complete the transaction, 36 first learn about the home they buy from a real estate agent and 15 percent from yard signs; five other categories were 7 percent or less.The 2005 National Association of Realtors® Profile of Home Buyers and Sellers, based on more than 7,800 responses to a questionnaire mailed to a large national sample of consumers located through county deed records, is the latest in a series of surveys evaluating demographics, marketing and other characteristics of home buyers and sellers. NAR President Thomas M. Stevens from Vienna, Va., said the findings underscore the complexity of the home-buying process. “Buyers who use the Internet in searching for a home are more likely to use a real estate agent than non-Internet users, and consumers rely on professionals to provide context, negotiate the transaction and help with the paperwork,” said Stevens, senior vice president of NRT Inc. “The real estate industry today bears little resemblance to the way we did business 10 years ago. It is hard to find another industry that has adopted technology so readily to its customers,” Stevens said. “Realtors® have invested a lot of time and money in building information technology, and because of these efforts, more consumers than ever are using the Internet in their home search.”The survey shows 81 percent of buyers who use the Internet to search for a home purchase through a real estate agent, while 63 percent of non-Internet users buy through an agent; non-Internet users are more likely to purchase directly from a builder or an owner they knew in advance of the transaction.“We find that the level of for-sale-by-owners is on a sustained decline and is now at a record low. In addition, a growing share of FSBO properties are not placed on the open market – they’re private transactions,” Stevens said.A clear downtrend in FSBOs has been seen since that market share experienced a cyclical peak of 18 percent in 1997. Only 13 percent of sellers conducted transactions without the assistance of a real estate professional in 2005, and 39 percent of those FSBO transactions were “closely held” between parties who knew each other in advance, up from 32 percent in 2004. The FSBO market share was at 14 percent in both 2003 and 2004. NAR began tracking the FSBO market in 1981; the record was 20 percent in 1987.“In reality, the term ‘FSBO’ is a misnomer when used to broadly describe homes sold directly by owners. Since two out of five of these transactions are between related parties, and those properties are not placed on the open market, we believe that ‘unrepresented sellers’ would be a much more accurate term to describe this segment,” Stevens said. The median home price for sellers who use an agent is 16.0 percent higher than a home sold directly by an owner; $230,000 vs. $198,200; there were no significant differences between the types of homes sold. “While many unrepresented sellers are motivated to save on paying a commission, we think the price difference speaks for itself,” Stevens said. “Owners without professional assistance also have problems in understanding and completing paperwork, prepping the home for sale, getting the right price and selling within the time planned.”Survey data don’t explain the price difference, but Stevens offered some context. “Agents know best how to prepare a home and maximize value, agents provide broader exposure to the market and are more likely to generate multiple bids, and the portion of sales that are between private parties are likely to be at a lower price than those on the open market.”“The housing market today contrasts sharply with predictions a decade ago that the Internet would ‘disintermediate’ real estate agents, including speculation that NAR membership would fall in half. In reality, it’s grown dramatically – selling real estate is not like selling a book or buying an airline ticket,” he said. Realtor.com was the most popular Internet resource, used by 54 percent of buyers, followed by multiple listing service (MLS) Web sites, 50 percent, real estate company sites, 38 percent, real estate agent Web sites, 31 percent, and local newspaper sites, 15 percent; other categories were smaller.Married couples make up the largest share of the housing market, accounting for 61 percent of transactions. Single women purchase 21 percent of homes while single men account for 9 percent. Unmarried couples were 7 percent of the market, and 2 percent were listed as other. In 2004, single women were 18 percent of buyers and single men were 8 percent.The typical buyer walked through nine properties, searched eight weeks to buy a home and moved 12 miles from their previous residence. The typical seller placed their home on the market for four weeks, had lived in it for six years, moved 15 miles to their new residence and previously owned three homes, including the one just sold.NAR’s senior economist Paul Bishop said both buyers and sellers use traditional methods to choose a real estate agent. “Word-of-mouth recommendation is the most common way to learn about real estate professionals,” Bishop said. “The most important criteria, whether you’re buying or selling, are the individual agent’s reputation and their knowledge of the local market.”In finding a real estate professional, 44 percent of buyers were referred by a friend, neighbor or relative, 11 percent used an agent from a previous transaction, 7 percent found an agent on the Internet, 7 percent met at an open house and 6 percent saw contact information on a “for sale” sign. Six other categories accounted for smaller shares each.The most important factor in choosing an agent was reputation, according to 41 percent of home buyers, followed by an agent’s knowledge of the neighborhood, 24 percent. In terms of desired qualities in an agent, three categories were rated as very important by more than nine out of 10 buyers: knowledge of the purchase process, responsiveness and knowledge of the market. Of buyers who use an agent, 63 percent choose a buyer representative. Satisfaction with real estate agents is very high, with 85 percent of buyers saying they were likely to use the agent again.Seller responses are comparable: 43 percent chose agents based on a referral by a friend, neighbor or relative, and 28 percent used their agent previously; 10 other categories were 5 percent or less. Fifty-seven percent of sellers said reputation was the most important factor in selecting an agent, followed by their knowledge of the neighborhood, 17 percent. Eighty-two percent said they were likely to use the same agent again or recommend to others.Four out of ten respondents are first-time buyers, a finding that is consistent for more than a decade. The median age of entry-level buyers is 32 years, also typical over time, and the household income was $57,200. They made a downpayment of 2 percent on a home costing $150,000, but 43 percent purchased with no money down. Of first-time buyers who made a downpayment, 23 percent received a gift from a friend or relative.The typical repeat buyer is 46 years old and had a household income of $83,200. They placed a downpayment of 21 percent on a home costing $235,000, but 11 percent of repeat buyers paid cash for their home. In all, 94 percent of buyers and sellers believe their home purchase is a good financial investment.“To underscore the value of housing as an investment, all you have to do is look at the difference in how repeat buyers purchase their next home – the wealth effect of homeownership provides the greatest source for their downpayment, which is significantly larger,” Bishop said. Aside from sellers who pay cash for their new home, 66 use the equity from their previous home for a downpayment.The most important factors in choosing a location to purchase a home are neighborhood quality, cited by 68 percent, close to a job or school, 43 percent, close to family or friends, 36 percent, and the school district itself, 23 percent; seven other categories were under 20 percent.NAR mailed an eight-page questionnaire to a national sample of 145,000 home buyers and sellers, based on county records, who purchased their homes between August 2004 and July 2005. It generated 7,813 usable responses; the response rate was 5.4 percent.The 2005 National Association of Realtors® Profile of Home Buyers and Sellers can be ordered by calling 800/874-6500. The cost is $50 for NAR members and $125 for non-members.The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.
"Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission."

The Ellis Team at RE/MAX Realty Group will provide follow-up and commentary in a subsequent post.

Mortgage Rates Drop

2006-01-14T12:00:00.000-05:00

Mortgage rates have dropped for the 5th straight week, to a national average of 6.15 percent. This was down from 6.21 percent the week prior. Recent economic news points to low inflation in the near-term which is causing the bond market to act favorably.

Because of this, the mortgage market has reacted and lowered rates, which is good news for home buyers right now in the Lee County Florida real estate market looking to purchase a home.

Lower borrowing costs help offset some of the higher housing prices we've seen the last few years, and it's all about affordability. While we have no shortage of people who can afford to live here, it's nice for the home buyers who are on the fence and barely able to afford to buy. Those are the people that really need the help, and lower borrowing caosts help them the most. It would be adviseable for anyone one the fence to purchase now before both mortgage costs and prices get out of reach.

Home Builders Predict Housing Slowdown

2006-01-13T02:26:00.000-05:00

The National Association of Homebuilders (NAHB) is meeting this week in Orlando Flrida. They are concerned about markets such as Las Vegas, Phoenix, Orlando, Miami and San Diego where investors accounted for more than 25% of the total sales in those markets. Nationwide, investors accounted for 20% of all sales.

Particulary troubling could be upscale home and condominuims, according to NAHB. Investors started pulling back in the 4th quarter of 2005.

The fear is investors will choose to sell properties or pull-out of existing contracts, which could lead to over supply and put pressure on prices. Investors have left the real estate market and gone back into other things, like the stock market and commodities.

We'll be sure to keep you posted on what changes if any are in stor for Lee County and the Southwest Florida real estate market.

Loan program Allows you to Build in Repair Costs

2006-01-11T11:40:00.000-05:00

HUD has introduced enhancements to the streamlined 203(k)
program to facilitate the purchase of property that needs only
minor rehab work, including raising the ceiling for repair costs
to $35,000.

This allows a buyer or investor to purchase a property that needs repair and build in the anticipated costs to the loan. It's a good way to purchase a property, improve it, and have equity or sell it. Everyone wins as long as you purchase the property up-front at a fair price. The buyer makes some equity, and the neighborhood is improved as the property is improved.

Feel free to call us at 239-489-4042 to take advantage of this program in Lee County, Southwest Florida. Visit our website Topagent.com To search for listings in Fort Myers and Cape Coral Florida go to LeeCountyOnline.com

Annual Cyber Star Conference

2006-01-10T11:55:00.000-05:00

The annual Cyber Star Summit is being held this week in San Antonio Texas. The Cyber Stars are the Top 200 agents nationwide out of more than 1.5 million Realtors. The Cyber Stars are discussing the latest trends in technology, improving communications with buyers and sellers, and evaluating the latests products to better serve the Real Estate community.

Brett Ellis is is a Cyber Star and was asked to speak at this years Summit. Not only was it a pleasure speaking to such a powerful group, I also enjoyed learning from some of the brightest minds in the business today. We look forward to bringing some of the latest trends to the Fort Myers, Southwest real estate market. Technology, along with real estate is developing at lightning speed, and those that adapt and change with it will become more efficient and prosper.

Median Price of Florida's Existing Homes Continue to Rise, Sales Show Slight Gain in November

2005-12-29T10:11:00.000-05:00

ORLANDO, Fla., Dec. 29, 2005 -- The pace of Florida's housing market eased somewhat in November -- traditionally a slower month for home sales -- with statewide sales of existing single-family homes totaling 17,219 for a 1 percent increase over last year’s sales activity of 17,110 homes, according to the Florida Association of Realtors® (FAR). Housing markets nationwide are starting to see a better balance between demand and supply, according to many housing industry analysts, placing homebuyers and sellers on a more even footing.
The statewide median sales price rose 31 percent in November to $250,500; a year ago, it was $191,300. In November 2000, the statewide median sales price was $117,900, which is an increase of about 112 percent over the five-year period. The median is the midpoint, which is a typical market price where half of the homes sold for more and half for less.

The national median sales price for existing single-family homes was $216,200 in October, up 16.6 percent over last year, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $538,770 in October; in Maryland, it was $297,682; in New York, it was $269,000; and in North Carolina, the average resales price was $215,762.

Interest rates for a 30-year fixed-rate mortgage averaged 6.33 percent in November, up from the 5.73 percent rate recorded last year. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s larger metropolitan statistical areas (MSAs), the Tampa-St. Petersburg-Clearwater MSA reported higher figures in both sales and median price last month, with a total of 3,799 existing single-family homes changing hands for a 16 percent increase over the 3,276 homes sold last year. The market’s median sales price increased 33 percent to $222,900; a year ago, it was $167,100.

George Bodmer, president of the Greater Tampa Association of Realtors and co-owner of Bayside Realty Group Inc. notes that mortgage rates, while edging up, remained favorable in November, which encouraged buyers to enter the market.
“The real estate market follows the jobs, and this area is basically a community that goes to work,” he says. “We've got places to work, places to play, good schools and even with high demand and a tight inventory, we've been fortunate in that we still have homes available to buy. Buyers know housing is a good investment.”

Other larger markets reporting higher sales in November include: Jacksonville, where 1,425 homes sold for a 20 percent gain; and Orlando, where 2,656 homes changed hands for a 2 percent increase. The median sales price also rose in both markets: in Orlando, 45 percent to $254,600; and in Jacksonville, 17 percent to $190,000.

Among the state’s mid-sized MSAs, Fort Myers/Cape Coral reported a 4 percent increase in home sales last month, with a total of 810 homes sold compared to 778 homes changing hands last year. The area’s median sales price rose 49 percent over the same period to $295,400; a year ago, it was $197,800

Brett Ellis, a Realtor with The Ellis Team at RE/MAX Realty Group had a feeling November would turn out like it did. "After Hurricane Wilma, the market slowed dramatically, which isn't surprising really. Like last year, it took several weeks for cleanup and recovery, so people were busy doing other things, combined with entering the Holiday season. Additionally, numbers at the bottom of the scale were down most, which is a large percentage of the sales. With rising prices, rising taxes, insurance costs, and interest rates, it was bound to catch up at some point, and the first-time home buyer are usually the first to feel the effects."

Among the state’s smaller MSAs, Tallahassee reported a 21 percent increase in home sales last month, with a total of 357 homes sold compared to 296 homes changing hands last year. The area’s median sales price rose 12 percent over the same period to $179,800; a year ago, it was $160,600.

“Tallahassee has a lot to offer and buyers are realizing it's a great place to live,” says Mike Ferrie, president of the Tallahassee Board of Realtors and sales associate with Blue Chip Realty Inc. “Our economy is strong, with diverse business and employment opportunities. And the forecast for jobs in this area continues to be good for the future as well.”

Other smaller MSAs in the state also had higher home resales last month, including: Lakeland-Winter Haven, where 475 homes changed hands for a 17 percent boost; and Gainesville, where 275 homes sold for a 13 percent gain. The median sales price in those markets also rose over the same period: in Lakeland-Winter Haven, 37 percent to $166,900; and in Gainesville, 18 percent to $197,100.

A chart showing statistics for Florida and its 20 MSAs is available by clicking here. The chart compares the volume of existing, single-family home sales and median sales prices in November 2005 to November 2004, based on Realtor transactions.

Holidays-What to Expect

2005-12-23T00:09:00.000-05:00

Traditionally, showings go down during the holiday season. However, the showings that do occur tend to be serious buyers. We've sold several homes this week, and we're still negotiating a few sales before Christmas.

The week between Christmas and New Years tends to be very busy. We have a lot of visitors to SW Florida during the week. They tend to be new to the market. Some buy, many come back later in the year after deciding SW Florida is a nice place to own property. Activity is gernerally slow from Jan 1-January 15, then showings pick up again.

Our team has been very busy listing properties. We will have several enter the market just after the holidays. During 2005, we had a difficult time keeping more than 5 properties in inventory as they would sell so fast. We're getting back to normal at 70.

The Ellis Team has always carried listings for years, except for the last two or so. The reason is we advertise homes more and expose them properly to the market. We call it a Flight to Quality. When the market turns just a bit, the relative in the business or the Realtor down the street offering a deal just doesn't seem like a deal anymore. Sellers want their home sold, and they want to trust the Realtor working for them will do everything possible to sell their home, not skimp on costs.

Look for more homes to enter the market after the Holidays, and for buyer activity to pick up. View Ellis Team listings, or View entire MLS if you'd like to see properties currently for sale. For more information, listen to our Weekly Radio Show Online, or visit our Website or call us at 800-860-4042

Rates will Climb and Mortgages will get Longer in 2006

2005-12-21T00:20:00.000-05:00

Rates will Climb and Mortgages will get Longer in 2006. That's the word from the California Association of Mortgage Brokers.

Many believe 40 year loans will become more popular. This comes as a surprise to many Americans, but in fact in some parts of the world loans are paid off over many generations. Even if rates go up from their current levels, they're still historically low. What's making homes unafordable right now is mostly the large run-up in prices over the last three years.

We've had tremendous price increases, increasing interest rates, insurance rates, and property taxes. All are pressuring the first-time buyer at once, making homes largely unaffordable for those that missed the big boom. We'll keep you posted throughout 2006 as to how the market performs.

National City Corp says Naples 82.3 Percent Overvalued

2005-12-19T22:46:00.000-05:00

National City Corp.'s latest quarterly study says that 38 percent of the top 299 metro housing markets "are extremely overvalued and at risk for a price correction."

National City says the Naples real estate market is 82.3 percent overvalued.

Other "extremely overvalued" Florida markets include Port St. Lucie (68.1 Percent), West Palm Beach (56.9 percent), Sarasota (55.6 percent), Miami (55.3 percent), Vero Beach (54.3 percent) and Fort Lauderdale (52.8 percent).

We'll keep watching, but Cape Coral/Fort Myers Florida does Not appear to be on their list

New Riverfront Listing

2005-12-18T14:54:00.000-05:00

New Riverfront Listing located on 2.62 acres. Spectacular river riews from master bedroom, family room, dining room, and kitchen. Extra building on property with in-law suite. Designed with oversized doors for boat or RV.

Many extras like bamboo floors, Australian Cypress wood floors, and much more. Click here to view more details on this home and neighborhood.

Great Article on As the Market Turns

2005-12-18T13:48:00.000-05:00

This is a great article about what an experienced agent brings to the table in a changing market.

Property Insurance

2005-12-16T22:19:00.000-05:00

Citizens Property Insurance Corp.'s board on Thursday approved an average statewide rate hike of 44 percent for homeowners in high-risk areas. This increase, which still has to be OK'd by state regulators, follows a 16.2 percent increase in high-risk coastal areas that was approved last February.

Mortgage Rates The average rate for a 30-year fixed-rate mortgage dipped slightly this week to 6.3 percent. Financial markets seemed to like signals from the Federal Reserve that its string of interest rate hikes could be drawing to a close. Read the full story:

The Perfect Home

2005-12-16T09:05:00.000-05:00

Whether you're buying or selling in today's market, don't fret about last year's prices. Just as sellers cannot sell when prices may have been better, buyers can't undo time and buy at last year's prices.

Find out how much home you can afford upfront. Get pre-qualified You'll want to be happy in the home you're in, not the home you wish you had bought in the past or the home you cannot afford. Getting pre-qualified upfront sets reasonable expectations. There is nothing worse than looking at homes above your price range, then having to settle for a lesser home because he bank said so.

You'll also want to be comfortable with your payment. Sometimes you can afford much more home than the monthly payment you're willing to spend, and that's OK too. Our agents can Represent you, assisting you to make a better decision for you and your family.

Remember, there is no Perfect home. If you had all the money in the world, you couldn't design and build the perfect home. One day you'd want a home in the mountains, another a gorgeous home on the beach. I could go on and on here, but you get the point. You'll want to focus on your needs first, and also what would make you happy. Buying a home is all about choices, and together we help you make the best choice for you. Everyone is different, so we really have to listen to you. We'll ask lots of questions.

The best home for you may not be the home I'd choose, and that's perfectly fine. It's not about us. It's about You! Good luck, and happy house-hunting. If you'd like more information about SWFL, visit Topagent.com If you'd like to view properties in MLS, search for yourself at Leecountyonline.com. Here is the link Ellis Team Featured Listings.

Florida unveils phone number for unlicensed activity complaints

2005-12-15T19:31:00.000-05:00

Many don't realize that performing any real estatte service in Florida is a 3rd degree felony. Sometimes it's as innocent as helping a neighbor rent their home, or helping sell a friends home. The problem is, when unlicensed people perform real estate services, mistakes are made and somebody gets hurt, even unintentionally.

Here is the phone number to report such activity. 866-532-1440 Here is a link to an article about this.

Housing Bubble: Boom or Bust?

2005-12-15T09:42:00.000-05:00

Is SW Florida's Housing Boom about to bust? Here are two noted stories addressing that fact:

Real Estate Bubble Ready to Burst? NBC interviews top agent Brett Ellis about where SW Florida market is headed. Complete with video. Brett Ellis is known for his statistical analysis of the SWFL real estate market, and his Current Market Index, which accurately predicts where the market is headed. Brett works with his mother Sande Ellis, and together they lead the market in Southwest Florida. View their website.

Economist: Gradual moderation of real estate market likely Noted economist Hank Fishkind addresses mortgage rates, retirees, demographics, oil prices, and markets up north to come to his conclusion.

Florida's Home Resales' Median Price Rises 28 Percent in October

2005-12-14T23:09:00.000-05:00

ORLANDO, Fla., Nov. 28, 2005 -- Home sales statistics from the Florida Association of Realtors® (FAR) show that home prices continued to rise but the number of sales fell in October, notably in southern areas directly impacted by Hurricane Wilma's march across the state. Most insurers stopped issuing new policies when the hurricane neared Florida, and, following the storm, some lenders required a re-inspection of properties before they would release mortgage money.

Despite storm problems, however, the state's median home price rose 28 percent in October to $241,000 from $188,800 in October 2004. In September 2005, the median price was $247,800. In October 2000, FAR records show the statewide median sales price was $116,100, resulting in an increase of 107 percent over the five-year-period.

Many Realtors across the state report gains in housing supply, giving buyers a larger selection of homes to consider. Statewide, a total of 16,029 existing single-family homes sold last month compared to 16,844 homes a year ago for a decrease of 5 percent, according to FAR.

The national median existing-home price in September was $212,000, up 13.4 percent from the previous September's median price of $187,000, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $543,980 in September; in New York, the median price was $275,000; and in North Carolina, the average resales price was $208,097.

Interest rates for a 30-year fixed-rate mortgage averaged 6.07 percent in October, a slight increase from the average 5.72 percent in October 2004. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s larger markets, the Daytona Beach metropolitan statistical area (MSA) reported that 1,037 homes sold in October for an 18 percent gain over October 2004 home sales of 881. The median home price in Daytona Beach rose 35 percent over the same time period, from $165,000 in October 2004 to $223,300 in October 2005.
Shawn M. Goepfert, president of the Daytona Beach Area Association of Realtors and owner of Ideal Realty of Volusia, says that demand for Daytona-area homes is now catching up with supply. "We started 2005 off with only about 1,000 residential listings, really robust sales and it taking only about two or three weeks to get a contract," Goepfert says. "That demand really pushed up our sales price, but in the last 30 days, our inventory has increased to about 3,000 residential listings."

Other larger MSAs with strong sales and price increases include Jacksonville, with 1,504 home sales in October for a 38 percent gain over October 2004 sales numbers; and Tampa-St. Petersburg-Clearwater, with 3,735 homes sold for an increase of 4 percent over the same time period. Prices also rose in both markets over the year. In Jacksonville, the median price rose 20 percent to $191,600; in Tampa-St. Petersburg-Clearwater the median price rose 35 percent to $225,700.

In Fort Myers-Cape Coral the median price rose 65% from $195,300 to $322,000, while the number of sales fell 52% from 555 in October 2004 to 264 in October 2005. According to Brett Ellis, Realtor with The Ellis Team at RE/MAX Realty Group in Fort Myers, FL, these numbers are not surprising. "Hurricane Wilma affected sales for certain in October, both before and after the storm. This storm took forever to get here, and once it hit closings were delayed due to power outages and re-inspections. We do see an increasing supply in inventory, which means the days of 65% price increases are probably over. This time next year I think we'll see moderate price gains as the market begins to level out."

Among the state’s smaller MSAs, Lakeland-Winter Haven posted a 24 percent gain in home sales in October, with 513 homes changing hands compared to 414 homes a year ago. The market’s median sales price rose 50 percent in October to $173,500; last year, it was $115,500.
"I think people have discovered our little secret," says Peggy Daley, treasurer of the Lakeland Association of Realtors and a Realtor with ImperiaLakes Realty Services in Lakeland. "We've got the best of everything. People are moving here in droves from South Florida, plus people from the North keep coming down and quickly realize that we're centrally located with easy access to Tampa or Orlando -- but without the traffic."

Other smaller MSAs that posted gains in the number of homes sold in October include Ocala, where 482 homes sold for a 15 percent jump; and Tallahassee, where 393 homes sold for an 18 percent increase. The median sales price in those markets also rose. In Ocala, it rose 38 percent to $159,200; and in Tallahassee, 19 percent to $172,700.

A chart showing statistics for Florida and its 20 MSAs is available by clicking here. The chart compares the volume of existing, single-family home sales and median sales prices in October 2005 to October 2004, based on Realtor transactions.

Courtesy of the Florida Association of Realtors, the University of Florida Real Estate Research Center and The Ellis Team.

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