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!

July 23, 2020

Cape Coral-Fort Myers Housing Market Update June 2020

Cape Coral-Fort Myers Housing Market Update June 2020

Local Real Estate Sales Figures Show Improved Results in June

Lee County’s housing market saw a slight decrease in closings in both the single-family and townhouse/condominium categories in June compared to the same period a year ago. This is typical in our market area in the summer months when sales activity tends to be lower. Closings in the single-family category were up in June 2020 (1,241) compared to May 2020 (924). Year-over-year, sales were down by 1.3% for single-family and 12.8% for townhouses and condominiums, according to figures just released by Florida Realtors®, an umbrella organization for Realtor® groups throughout the state. June showed a median sale price increase of 5.3% for single-family and 0.6% in the townhouse/condominium category. This shows stability in the pricing segments. Inventory is significantly down for both. Year-over-year, local inventory of single-family dwellings is down again this month at 28.7% as shown in active listings. A 3.6-month supply of inventory shows the market is in a sellers’ market. More listings are seeing multiple contracts of offers. In the townhouse/condominium category, listings were down 15.0% versus June 2019. That translates to a five-month supply and shows a more balanced condo market.

Time spent on the market in June was about the same as June 2019 78 days for single-family homes and 81 days for townhouses and condominiums. June 2019 showed 71 days for single-family and 75 days for townhouses and condominiums.

Cape Coral-Fort Myers Housing Market Stats June 2020

Broken down by city, Estero saw a 30.9% increase in single-family dwellings over last year. Sanibel/Captiva followed with an 11.1% increase. Pine Island saw a large loss at 53.8% decrease compared to last year. When looking at closed sales by price point, all single-family homes the difference was mixed with the biggest increase in price for Pine Island.

Cape Coral-Fort Myers Housing State by Price Points June 2020

 

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

July 20, 2020

Thinking of Selling Your House Now May be the Right Time

Thinking of Selling Your House Now May be the Right Time

Thinking of Selling Your House? Now May be the Right Time

Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very quickly.

Sam Khater, Chief Economist at Freddie Mac notes:

“Simply put, new housing supply is not keeping up with rising demand. We estimate that the housing market is undersupplied by 3.3 million units, and the shortage is rising by about 300,000 units a year. More than half of all states have a housing shortage.”

Why is inventory so low?

There are many reasons why it’s hard to find a home to buy today, stemming from an undersupply of newly constructed homes to sellers pressing pause on their moving plans due to the current health pandemic. One of the key factors making it even more challenging, however, is the amount of time current homeowners are staying in their homes. There has truly been a fundamental shift in the market that started about 10 years ago: people are staying put longer, and it’s contributing to the shortage of houses for sale.

In the 2019 Profile of Home Buyers and Sellers, NAR explained:

“In 2019, the median tenure for sellers was 10 years…After 2008, the median tenure in the home began to increase by one year each year. By 2011, the median tenure reached nine years, where it remained for three consecutive years, and jumped up again in 2014 to 10 years.”

As shown in the graph below, historical data indicates that staying in a home for 5-7 years used to be the norm, until the housing bubble burst. Since 2010, that length of time has trended upward, toward 9-10 years, largely due to homeowners aiming to recoup their equity:

Average length of time homeowners stay in homes

Thankfully, with the strength, the market has gained over the last 10 years, today’s homeowners are in a much better equity position. Now is a fantastic time for homeowners who are ready to make a move to break the 10-year trend and sell their houses, especially while buyer demand is so high and inventory is so low. It’s a prime time to sell.

In addition, with today’s historically low interest rates, there’s an opportunity for sellers to maintain a low monthly payment while getting more house for their money. Think: move-up opportunity, more square footage, or finding the features they’re really looking for rather than doing costly renovations. With more new homes poised to enter the market this year, homeowners ready to make a move may have a golden opportunity to do so right now.

Recap

There are simply not enough houses for sale today. If you’re ready to leverage your equity and sell your house, reach out to a local real estate professional today. It’s a great time to move while demand for homes to buy is extremely high.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Posted in Market Updates, Sellers
June 23, 2020

Cape Coral-Fort Myers Housing Market Update May 2020

Cape Coral-Fort Myers Housing Market Update May 2020

Local Real Estate Sales Figures Show Mixed Results in May

Amid COVID-19 pandemic, year-over-year sales were down double-digit points for single-family and townhouse/condominium properties versus May 2019.

Lee County's housing market saw a big double-digit decrease in closings in both the single-family and townhouse/condominium categories in May, compared to the same period a year ago. These results were not surprising in light of the COVID-19 pandemic. Year-over-year, sales were down by 39.1% for single-family and 54.5% for townhouses and condominiums, according to figures just released by Florida Realtors, an umbrella organization for Realtor groups throughout the state.

May showed a small median sale price decrease of 0.7% for single-family and 3.1% in the townhouse/condominium category. This shows stability in the pricing segments. Inventory is significantly down for both. Year-over-year, local inventory of single-family dwellings is down at 27.5% as shown in the active listings. A 4.0 - month supply of inventory shows the market is moving further into a sellers' market.

In the townhouse/condominium category, listings were down 17.1% versus May 2019. That translates to a 5.2 - month supply and shows a balanced condo market.

Time spent on the market in May was shortened to just 47 days for single-family homes and 55 days for townhouses and condominiums. May 2019 showed 68 days for single-family and 74 days for townhouses and condominiums. This is another indication that we are in a sellers' market.

Broken down by city, negative results were widespread. Single-family homes all the cities showed a decrease in sales, with Sanibel/Captiva hit the hardest with a decrease of 71%.

When looking at closed sales by price point, all single-family homes were affected by the decrease in sales, with the $1,000,000 and higher category hit the hardest with a 61.3% decrease.

May 2020 Housing Stats Cape Coral-Fort Myers Property Type

 

May 2020 Housing Stats Cape Coral-Fort Myers by Cities and Price Points

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Florida Realtors does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

June 22, 2020

Homebuyers Are in the Mood to Buy Today

Homebuyers Are in the Mood to Buy Today

Homebuyers Are in the Mood to Buy Today

According to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they’re projected to remain low. This means there’s a huge incentive for buyers who are ready to purchase. And homeowners looking for eager buyers can take advantage of this opportune time to sell as well.

There’s a very positive outlook on interest rates going forward, as the projections from the FreddieMac report indicate continued lows into 2021:

“Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.”

 With mortgage rates hovering at such compelling places, ongoing buyer interest is bound to keep driving the housing market forward. Rates also reached another record low last week, so homebuyers are in what FreddieMac is identifying as the buying mood:

“While the rebound in the economy is uneven, one segment that is exhibiting strength is the housing market. Purchase demand activity is up over twenty percent from a year ago, the highest since January 2009. Mortgage rates have hit another record low due to declining inflationary pressures, putting many homebuyers in the buying mood. However, it will be difficult to sustain the momentum in demand as unsold inventory was at near record lows coming into the pandemic and it has only dropped since then.”

There’s no doubt that even though buyers are ready to purchase, it’s hard for many of them to find a home to buy today. Mortgage rates aren’t the only thing hovering near all-time lows; homes available for sale are too. With housing inventory as scarce as it is today – a nearly 20% the year-over-year decline in available homes to purchase – keeping buyers in the purchasing mood may be tough if they can’t find a home to buy (See graph below):

Housing Supply year-over-year

What does this mean for buyers?

Competition is hot with so few homes available for purchase and low mortgage rates are helping to drive affordability as well. Getting pre-approved now will help you gain a competitive advantage and accelerate the homebuying process, so you’re ready to go when you find that perfect home you’d like to buy. Working quickly and efficiently with a trusted real estate professional will help put you in a position to act fast when you’re ready to make your move.

What does this mean for sellers?

If you’re thinking of selling your house, know that the motivation for buyers to purchase right now is as high as ever with rates where they are today. Selling now before other sellers come to market in your neighborhood this summer might put your house high on the list for many buyers. Homebuyers are clearly in the mood to buy, and with today’s safety guidelines and precautions in place to show your house, confidence is also on your side.

Recap

 Whether you’re looking to buy or sell, there’s great motivation to be in the housing market, especially with mortgage rates hovering at this historic all-time low. Reach out to a local real estate professional today to make sure you’re ready to make your move.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

June 13, 2020

4 Areas of Cape Coral

Are you thinking about moving to Cape Coral? Not sure which area is best for you? We have put together the ultimate guide to all 4 sections of the Cape. Don't forget to check the links at the end of the article for resources and information. When you are ready to visit, book a tour with us HERE!

Cape Coral is still a growing and developing City. Founded in 1957 and developed as a planned community, the city grew to a population of 154,305 by the year 2010. The city's population estimate was 194,495 for 2019. With an area of 120 square miles (310 km2), Cape Coral is the largest city between Tampa and Miami. It is a principal city in the Cape Coral-Fort Myers, Florida Metropolitan Statistical Area. The population estimate for the statistical area was 679,513 for 2014. The city is known as a "Waterfront Wonderland"; with over 400 mi (640 km) of navigable waterways. The City of Cape Coral is self-managed by a city council and has its own government separate from Lee County. We are unique in our ordinances and city-managed amenities, like Sunsplash.

SE Cape Coral: 

SE Cape is the most densely populated and the most lively. This is where you'll find "downtown" and almost all bars and restaurants. We have the Cape Coral Yacht Club, which offers a riverfront beach, boat ramp and community center with a pool. This area is all city water and sewer with no assessment balance, as it's the original portion of Cape Coral. Most homes are the older style or renovated. There is some new construction but vacant lots are more rare and expensive. Most homes on the water here are gulf access and you are more likely to find a sailboat or direct access here. There are many condo options in this part of town as well. The schools in this area are Caloosa Elementary, Caloosa middle, Cape Coral High, and Cape Elementary.  There are festivals and events throughout the year in the SE Cape. There are farmers' markets weekly and tons of things to keep you busy. Many parks and nature conservations to enjoy as well. 

Search Homes in SE Cape HERE

 

SW Cape Coral:

This is a newly developed area. The homes on the water are mostly gulf access with some bridges to the water.  This is home to the Cape Harbour and Tarpon Point condo developments. Luxury and high rise homes in SW Cape. The lots here are more expensive due to their gulf access and paid or lower assessment balances since the city water and sewer have been present for much longer.  This area still offers a few empty lots for construction and has room to expand. Schools in this area are Trafalgar Elementary and Trafalgar Middle, Gulf Elementary and Gulf Middle, Challenger Middle, Pelican Elementary, Patriot Elementary, Skyline Elementary, and Ida S Baker High.

Search Homes in SW Cape Coral HERE

 

NE Cape Coral: 

NE Cape Coral is similar to NW in the fact that it is less dense in population and offers vacant lots for new construction. This area is centered off of Del Prado Blvd, one of the main commercial streets in town that runs north and south. There are several department stores, shopping centers, restaurants, etc. You will find everything you need here. NE Cape is also an excellent choice for investors as there are lots of multi-family lots and properties to choose from. There are also many schools in this area, Diplomat Elementary and Diplomat Middle, Island Coast High School, Hector Cafferata Elementary. This area borders, North Fort Myers and is also convenient to I-75. There are no waterfront homes that provide gulf access, waterfront homes here are freshwater. This area is the next location to be updated to city water and sewer and most all homes are under the assessment at this time or will be in the next 2 years, adding to the property taxes. Keep in mind, we can usually negotiate the assessment if this area is of particular interest to you. 

Search Homes in NE Cape Coral HERE

 

NW Cape Coral: 

The most rural of the 4 parts of Cape Coral. This area is mostly on well and septic and anywhere from 5 years + away from city water expansion. Cable service is limited in the NW. This is an ideal location for a buyer looking for new construction, as the land is less expensive. This is a great choice for land to hold, or to purchase an established home in a very quiet location. Although ALL schools in Lee County are eligible for residents in all parts of the Cape, we only have one middle school and one high school IN the NW Cape. For students who wish to walk or live within close proximity to their school, Mariner High School and Mariner Middle school are both wonderful options. We also have a large library, grocery stores, restaurants, and several convenience stores. Overall, the vast majority of NW Cape is residential and undeveloped land. There is gulf access along the western edge with a substantial boating time to the river or gulf and a good mix of gulf access and freshwater. You are also very close to multiple boat ramps on Pine Island to launch and make a quick trip to any of the Ft Myers or Sanibel beaches. NW Cape is a convenient location to reach 75 and there are plans to build a large concert and event venue/amphitheater as well as a residential/commercial complex in the future.  

Search homes in NW Cape HERE 

 

The bottom line is, there is no bad place to choose in Cape Coral. Each area has its appeal and it just depends on what type of life you plan to live when you're here.  Whether you are coming for the weather, boating, beach access, Cape Coral has accommodations for you. We have waterfront homes, freshwater, gulf access, boathouses, boat rentals, boat clubs, theatres, clubs, venues, events, you name it, we have it.

Many owners are part-time residents. So if you visit in the summer, you'll find about 50% less in traffic and people. If you come during our "season" (November to May) you'll meet the "snowbirds" or residents from the North who come down and enjoy the amazing weather during the colder months. This is different from our hurricane season (June 1 through November 30) There are also things to keep in mind when planning a move or even a visit. The rainy season here runs throughout the summer. Usually, from May to September, we have daily storms. Florida is the lightning capital and it happens, on average, every day in the summer. Not all day and not for long, but the flip side to this is we have sunshine and ocean breezes 310 days out of the year. This is also important when considering new construction. Starting a new construction project that will run through the rainy season, could increase the build time. Below are some links to help with specific questions... however, if there are questions you'd like to discuss, reach out to us. We are available 24/7/365 to help answer your questions and make your move to paradise as stress-free as possible. 

Cape Coral City Ordinances

SWFL Jobs

Lee County School Registration info

All about EACH Cape SCHOOL! 

LCEC (power)

Utility Expansion

Cape Coral Water

Cape Weather 

CenturyLink

Comcast (click Change Location to see availability)

Lee County Library System

Cape Coral Builders 

Lee County Tax Assessor

Boat Ramp MAP

Canal MAP

Land Use MAP

Cape Coral Waste Management

Flood Zone Search

Real Estate Search 

KNOW WHEN YOU'RE COMING TO VISIT?! BOOK A TOUR WITH US TODAY! 

June 9, 2020

Real Estate Will Lead the Economic Recovery

Real Estate Will Lead the Economic Recovery

Real Estate Will Lead the Economic Recovery

With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery will start to happen in the second half of this year. As we get back to work and the financial landscape of the country begins to turn around, many experts also agree that real estate has the potential to lead the way in the recovery process.

According to Ivy Zelman of Zelman & Associates:

 “Housing will fare better than expected during this severe downturn.”

In addition, CNBC notes:

“Mortgage demand from home buyers shows unexpectedly strong and quick recovery…The quick recovery has surprised most forecasters.”

Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy of the National Association of Home Builders (NAHB) says:

“Overall, the data lend evidence to the NAHB forecast that housing will be a leading sector in an eventual economic recovery.”

One of the big reasons why housing has the potential to be such a driving force is the significant impact it has on the local economy. This impact is particularly strong when a newly constructed home is built and sold. According to a recent study by the National Association of Realtors (NAR), the average new home sale has a total economic impact of $88,416. As outlined in the graphic below, this is a combination of income generated from real estate industries, expenditures, and new home construction.

Average Ecomonic Impact

With so many unknowns today, especially in the wake of a worldwide pandemic, one known factor is the bright spark the housing market can play in local and national recovery. Buying and selling a home goes well beyond personal growth and satisfaction – it supports our economy as a whole.

Recap


According to experts, the economy will begin to recover in the second half of this year. With real estate as a driver, that recovery may start sooner than we think.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

May 28, 2020

Economists Forecast Recovery to Begin in the Second Half of 2020

Economists Forecast Recovery to Begin in the Second Half of 2020

With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin to recover? While no one knows exactly how a rebound will play out, expert economists around the country are becoming more aligned on when the recovery will begin.

According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see graph below):

85.3% of Economist believe rebound comine in second half of 2020

There seems to be a growing consensus among these experts that the second half of this year will be the start of a turnaround in this country.

Chris Hyzy, Chief Investment Officer for Merrill notes:

“We fully expect the economy could begin to pick up in late June and July with a strong recovery in the fourth quarter.” 

In addition, five of the major financial institutions are also forecasting positive GDP in the second half of the year. Today, four of the five expect a recovery to begin in the third quarter of 2020, and all five agree a recovery should start by the fourth quarter (see graph below):

major financial companies believe rebound comine in second half of 2020

 

Recap

The vast majority of economists, analysts, and financial institutions are in unison, indicating an economic recovery should begin in the second half of 2020. Agreement among these leading experts is stronger than ever.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

May 26, 2020

Southwest Florida Real Estate Market Outlook May 2020

I came across this detailed and recent article from NAR:
 
https://www.realtor.com/research/2020-housing-market-predictions-covid-19-update/?fbclid=IwAR1ENr2c_6usAfN3K9oYKF6ofGc-zO3bSt4vDfKz_uDtaLl7g4V3N0oxQUM
 
I get asked all of the time about my personal thoughts about our real estate industry and Covid-19. Unlike the Great Recession of 2008, I truly believe our real estate industry will be the leader in bringing our economy out of this current economic situation.
 
WHY?
 
1. Inventory is low. This is primarily because the builders lost deals, have inventory, and stopped production. When inventory is low prices don’t drop as much. The demand will stay in front of the supply.
 
2. More than 60% of all homeowners had equity in their homes prior to COVID 19. The highest amount in 20 years. This is why we won’t see as many distressed homes. In 2008, the number was very low. Everyone pulled out equity from their home which was a major cause of the Great Recession.
 
3. 3 out of the past 5 recessions witnessed an increase in property values. The 4th one only decreased by 1.9%. The only substantial property decrease came during the Great Recession of 2008. I don’t see prices dropping.
Home prices during the last 5 recessions
 
4. Interest rates keep dropping. When you combine that with the low inventory prices may actually increase.
 
5. The unemployment rate is tied to the shutdown. That was an event no different than a hurricane. It was just on a much larger global scale. Remove the event and some of those jobs will come back. Not all of them, however, most will. I also believe that “Made In America” will become very popular, creating many new jobs.
 
6. Northerners are tired of the lockdown, their government, and high taxes. I see a surge of people moving to Florida sooner than later from #NewYork, #NewJersey, #Massachusetts, #Illinois, #Ohio, #Missouri, #Indiana, #Idaho, #Minnesotta, #Wisconsin and #Michigan and others. Lower taxes and less COVID 19 related deaths.
 
7. The government just poured $3 Trillion into the economy. In comparison the government spent only $152 billion on the Economic Stimulus Act in 2008 and $787 Billion in the American Recovery and Reinvestment Act in 2009.
 
8. Buyers should not stay on the fence. The number one reason is the interest rate. You see, a one-point increase in interest rates decreases your prospect’s buying power by $10,000 per $100,000 of value or 10%. They may not be able to qualify or afford the property they want now in the future. Also, let’s say prices drop the 1.9% like it did on the 4th recession outlined above. On a $500k property that is a drop of $9,500. If the interest rate goes up by 1% on that $500k loan that is a loss of $50,000 to that buyer.
9. Looking at the Market Stats every morning for the last 4 weeks, this past week of May 2020 looking at the last 7 Days we are seeing an increase of Pending Sales. As of today May 26, 2020 in the last 7 days there is 1,008 Pending Sale recorded in the Southwest Florida MLS.
 
I hope this info and the link helps you. If you or someone you know has any questions about the Real Estate Market in Southwest Florida or are thinking about or are #BuyingaHome #SellingaHome Call/Text me (239) 221-0225 I'll be happy to listen and answer any questions you have or help you with your need!
 
#RealEstateMarket2020 #SouthwestFloridaRealEstate #CapeCoralRealEstate #FortMyersRealEstate #EsteroRealEstate #BonitaSpringsRealEstate #NaplesRealEstate

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
May 21, 2020

Cape Coral-Fort Myers Housing Market Update April 2020

Lee County Market Update April 2020

Closed Home Sales Down in April 2020

  • Year-over-year sales were down double-digit points for single-family and townhouse/condominium properties versus April 2019 amid the COVID-19 pandemic.

Lee County’s housing market saw a double-digit decrease in closings in both the single-family and townhouse/condominium categories in April, compared to the same period a year ago. Year-over-year, sales were down by 14.1% for single-family and 31.2% for townhouses and condominiums, according to figures just released by Florida Realtors®, an umbrella organization for Realtor®groups throughout the state.

April continued to show a median sale price increase of 3.2% for single-family and 9.8% in the townhouse/condominium category. Inventory is significantly down for both. Year-over-year, local inventory of single-family dwellings is down at 22.9% as shown in active listings. A 4.3 -month supply of inventory shows the market shifting into a sellers’ market.

In the townhouse/condominium category, listings were down 21.1% versus March 2019. That translates to a 5.1-month supply, shows a balanced market.

Time spent on the market in April was shortened to just 48 days for single-family homes and 45 days for townhouses and condominiums. April 2019 showed 71 days for single-family and 77 days for townhouses and condominiums. This is another indication that we are in a sellers’ market.

April Lee County Prices by Property Types

Broken down by city, single-family homes all of the cities showed a decrease in sales, with the exception of Estero, which had 7.7% over last year. Pine Island and Fort Myers saw the largest decrease in sales with 34.8% and 24.8%. Single-family homes sold with 109 closed sales. Fort Myers Beach posted a 24.8% decrease in median price compared to last year.

When looking at closed sales by price point, all single-family were affected by the decrease in sales. The lower price points showed the highest decrease, in both single-family and for townhouses and condominiums. Townhouses and condominiums priced at $1 million or more did show a 12.5% gain.

April Lee County Market by Cities

 

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

May 11, 2020

Will Home Values Appreciate or Depreciate in 2020

Will Home Values Appreciate or Depreciate in 2020?

Will Home Values Appreciate or Depreciate in 2020?

With the housing market staggered to some degree by the health crisis the country is currently facing, some potential purchasers are questioning whether home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item.

Each month the National Association of Realtors (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for the REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand) during this pandemic.

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

buyer traffic index 2020

The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 34 of the 50 U.S. states, buyer demand is now ‘strong’ and 16 of the 50 states have a ‘stable’ demand.

Seller Supply

The index also asks: “How would you rate seller traffic in your area?”

seller traffic index 2020

As the map above indicates, 46 states and Washington, D.C. reported ‘weak’ seller traffic, 3 states reported ‘stable’ seller traffic, and 1 state reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the needs of buyers looking for homes right now.

With demand still stronger than supply, home values should not depreciate.

What are the experts saying?

Here are the thoughts of three industry experts on the subject:

Ivy Zelman:

“We note that inventory as a percent of households sits at the lowest level ever, something we believe will limit the overall degree of home price pressure through the year.”

Mark Fleming, Chief Economist, First American:

“Housing supply remains at historically low levels, so house price growth is likely to slow, but it’s not likely to go negative.”

Freddie Mac:

“Two forces prevent a collapse in house prices. First, as we indicated in our earlier research report, U.S. housing markets face a large supply deficit. Second, population growth and pent up household formations provide a tailwind to housing demand.”

Recap

Looking at these maps and listening to the experts, it seems that prices will remain stable throughout 2020. If you’re thinking about listing your home, connect with a local real estate professional who can help you capitalize on the somewhat surprising demand in the market now.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.