Southwest Florida Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Nov. 29, 2019

Don't Sit on the Couch this Weekend 11-29

 

Events for November 29th - December 5th, 2019

 

November 29

Holiday Lights

Edison & Ford Winter Estates

2350 McGregor Blvd, Fort Myers

 

December 1

Holiday Boat-a-Long

Four Freedoms Park

4818 Tarpon Ct, Cape Coral

 

December 1

Vegan Fest

Eight-Foot Brewing

4417 SE 16th Pl, Cape Coral

 

December 2

Annual American Sand-Sculpting Championship Festival

Wyndham Garden Fort Myers Beach

6890 Estero Blvd, Fort Myers Beach

 

December 3

FSW Student Concert Series: Orchestra & Choir

Barbara B. Mann Performing Arts Hall at FSW

13350 FSW Pkwy. Fort Myers

 

December 4

Lakes Park Farmers Market

Lakes Park

7330 Gladiolus Dr, Fort Myers

 

Let me know of other events in the comments below! 

 

Have a great weekend! 

 

 

 

 

 

 

 

Posted in Local Events
Nov. 27, 2019

What You Need to Know About the Mortgage Process

Some Highlights:

  • Many buyers are purchasing homes with down payments as little as 3%.
  • You may already qualify for a loan, even if you don’t have perfect credit.
  • Your local professionals are here to help you determine how much you can afford, so take advantage of the opportunity to learn more.
Posted in Weekly Post
Nov. 25, 2019

NOW is the Time to Sell

The best time to sell anything is when demand for that item is high and the supply of that item is limited. The latest Existing-Home Sales Report released by the National Association of Realtors (NAR), reveals that demand for housing continues to be strong, but the supply is struggling to keep pace. With this trend likely continuing throughout 2020, now is a great time to sell your house.

THE EXISTING-HOME SALES REPORT

The most important data revealed in this report was not actually sales. In reality, it was the inventory of homes for sale (supply). The report explained:

  • Total housing inventory at the end of August decreased 2.6% to 1.86 million homes available for sale.
  • Unsold inventory is lower than the 4.3-month figure recorded in August 2018.
  • This represents a 4.1-month supply at the current sales pace.

According to Lawrence Yun, Chief Economist at NAR,

“Sales are up, but inventory numbers remain low and are thereby pushing up
home prices.”

In real estate, there is a simple guideline that often applies here. Essentially, when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see greater appreciation. Between a 6 to 7-month supply is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and can expect depreciation in home values (see below):

As we mentioned before, there is currently a 4.1-month supply of homes on the market, and houses are going under contract fast. The Existing Home Sales Report also shows that 49% of properties were on the market for less than a month when they were sold. In August, properties sold nationally were typically on the market for 31 days. As Yun notes, this should continue,

“As expected, buyers are finding it hard to resist the current rates…The desire to take advantage of these promising conditions is leading more buyers to the market.” 

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market, and supply will fail to catch up with demand if a sizable supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers who are out there searching for your house to become their dream home. Give us a call! 

Posted in Weekly Post
Nov. 22, 2019

Don't Sit on the Couch this Weekend 11-22

 

Events for November 22nd - 28th, 2019

 

 

November 22

Sand Sculpting Championship

Fort Myers Beach

 

 

November 22-24

Fort Myers Fair at Fenway South

11500 Fenway South Dr, Fort Myers

 

 

November 22-25

Lani Kai Pirate Weekend 2019

Lani Kai Island Resort

1400 Estero Blvd, Fort Myers Beach

 

 

November 23

SW Florida Comic Con

Crowne Plaza Fort Myers at Bell Tower Shops

13051 Bell Tower Dr, Fort Myers

 

 

November 23

Edison Ford Garden Festival

2350 McGregor Blvd, Fort Myers

 

November 23

World AIDS Day in the Park

Clemente Park

3229 Dr. Martin Luther King Jr Blvd, Fort Myers

 

 

Let me know if other events in the comments! 

 

Have a great weekend!! 

 

 

 

 

 

 

 

 

 

Posted in Local Events
Nov. 20, 2019

You're Going to Need Advice

 

To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.

 

In real estate today, there are essentially three different price points in the market: the starter-home market, the middle-home market, and the premium or luxury market. Each one is unique, and depending on the city, the price point in these categories will vary. For example, a starter or lower-end home in San Francisco, California is much more expensive than almost any other part of the country. Let’s explore what you need to know about each of these tiers.

 

Starter-Home Market: This market varies by price, and these homes are typically purchased by first-time home buyers or investors looking to flip them for a profit. Across the country, homes in this space currently have less than 6 months of inventory for sale. That means there aren’t enough homes on the lower end of the market for the number of people who want to buy them. A low supply like this generally increases competition, drives bidding wars, and sets up an environment where homes sell above the listing price. According to data from the National Association of Realtors (NAR) on realtor.com,

 

“The desire for affordability continues to push down the inventory for homes listed for less than $200,000.00.”

 

Middle-Home Market: This segment is often thought of as the move-up market. Typically, the buyer in this market is moving up to a larger, more custom home with more features, all coming at a higher price. Across the country, this market is looking more balanced than the lower end of the market, meaning it has closer to a 6-month supply of inventory for sale. This market is more neutral, but leaning towards a seller’s market.

 

Premium & Luxury Home Market: This is the top end of the market with larger homes that have even more custom features and upgrades. Nationwide, this market is growing in the number of homes for sale. In the same realtor.com article, we can see that year-over-year inventory of homes in this tier has grown by 4.7%. Today, there are more homes available in the premium and luxury space, leading to more of a buyer’s market at this end.

 

Bottom Line

Depending on the segment of the market and the price point you’re looking at, you’re going to need the advice of a true local market expert. Give The Terry and Laurie Carlson Team a call to help you navigate the home-buying or selling process in your market.

 

 

Posted in Weekly Post
Nov. 18, 2019

Cost of Rent vs Cost of Buying

 

 

Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.

 

In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.

 

 “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”

 

Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, and that the trend is accelerating:

 

“The median U.S. rent grew 2% year-over-year, to $1,595 per month. National rent growth is faster than a year ago, and while 46 of the 50 largest markets are showing deceleration in annual home value growth, annual rent growth is accelerating in 41 of the largest 50 markets.”

 

The Zillow report went on to detail rent increases since the beginning of the housing market recovery in 2012. Here is a graph showing the increases:

Bottom Line

It is true that home prices have risen over the past seven years, increasing the cost of owning a home. However, the cost of renting a home has also increased over that same time period.

Posted in Weekly Post
Nov. 15, 2019

Don't Sit on the Couch this Weekend 11-15

 

Events for November 15th - 21st, 2019

 

November 15

Fort Myers Music Walk

Hotel Indigo Fort Myers Downtown River District

1520 Broadway Suite 104

Fort Myers, FL

 

 

November 16

Free Butterfly House Tours

Rotary Park Environmental Center

5505 Rose Garden Rd, Cape Coral 

 

November 16

Blues, Brews and Food Festival 2019

Burroughs Home and Garden

2505 First St, Fort Myers 

 

November 21

2019 Fort Myers Boat Show

Centennial Park

2000 W First St, Fort Myers

 

 

Let me know of any other events in the comments! 

 

Have a great weekend! 

 

 

 

Posted in Local Events
Nov. 13, 2019

4 Reasons To Buy This Fall

Here are four great reasons to consider buying a home today, instead of waiting.

 

 

1. Prices Will Continue to Rise

 

CoreLogic’s latest Home Price Insights Report shows that home prices have appreciated by 3.6% over the last 12 months. The same report predicts prices will continue to increase at a rate of 5.8% over the next year.

 

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

 

2. Mortgage Interest Rates Are Projected to Increase Next Year

 

The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have recently hovered just above 3.5%. This is great news for buyers in the market right now, because low interest rates increase your purchasing power – but don’t wait! Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

 

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is needed to buy your next home.

 

3. Either Way, You Are Paying a Mortgage 

 

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.

 

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

 

Are you ready to put your housing costs to work for you?

 

4. It’s Time to Move on With Your Life

 

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears both are on the rise.

 

But what if they weren’t? Would you wait?

 

Look at the actual reason you’re buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over custom renovations, maybe now is the time to buy.

 

Bottom Line

Buying a home sooner rather than later could lead to substantial savings. Talk to The Terry and Laurie Carlson Team to determine if homeownership is the right choice for you and your family this fall. 

 

Posted in Weekly Post
Nov. 11, 2019

The Difference an Hour Can Make

 

 

 

Posted in Weekly Post
Nov. 8, 2019

Don't Sit on the Couch this Weekend 11-8

 

Events for November 8th - 14th, 2019

 

November 7-10

Cape Coral Coconut Festival

Sun Splash Family Waterpark

400 Santa Barbara Blvd, Cape Coral

 

November 8

Beach N' Brews Craft Beer Event

Lover's Key State Park

Fort Myers Beach 

 

November 9

2019 Cape Coral Sip and Shop After Dark

901 East Industrial Circle, Cape Coral

 

November 13

USA Dance #6123

Four Freedoms Park

4818 Tarpon Ct, Cape Coral

 

November 13

Florida Friendly Landscaping Workshop

10am-2pm

Riverland Nursery

13005 Palm Beach Blvd, Fort Myers

 

 

Let me know if you know of any other events in the comments below! 

 

Have a great weekend! 

 

 

 

 

 

 

 

 

 

 

 

Posted in Local Events