Summer 2021

Happy Summer!

We hope you are staying healthy and feeling hopeful for good things to come this Summer and throughout 2021. We wanted to reach out and give you a brief update on our real estate market and what The Ritter Group has been up to the past several months.

What is Happening with the Real Estate Market?

To say we have a “hot” real estate market in the Venice area would be an understatement. The median sales price of residential property in the Venice market has increased a staggering 26% since January. Several factors are causing this rapid increase in prices: a 34% increase in the number of sales, a 76% decrease in inventory, a slowdown in new construction, a nationwide shortage of housing, and low interest rates. A “balanced market” would be one where the supply in the market (available inventory divided by the number of sales in the last 30 days) would be in the 4-6 month range. We currently have a 2 week supply in the Venice market – a historically strong seller’s market. Although buyers certainly face immense challenges in this highly competitive market, the experience for Seller’s has also never been so complicated. Sellers face some of the following challenges:

• Weighing the pros and cons of multiple offers and assessing which will provide the most benefits and best chance to reach the closing table.
• Assessing offers with tight deadlines and missing contingencies. Some people are foregoing appraisal contingencies, financing contingencies, and sale of buyer’s property contingencies but that can lead to a host of complications and opportunities for contract failure.
• Desperate buyers making offers under pressure with emotions running high can lead to “buyer’s remorse.” Some buyers are placing properties under contract without ever seeing the property in person, which may result in an increased chance of a buyer canceling.
• Slow loan approvals and appraisals due to the increased number of sales and a nationwide shortage of licensed appraisers.

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The BEST of Venice!

We are grateful and thankful to you for voting us BEST OF VENICE 2020! The Venice Gondolier Sun added several categories this past year and we swept the awards.

The Ritter Group was awarded WINNER for:

• BEST REAL ESTATE TEAM

and Matthew Ritter was WINNER in the following categories:

• BEST REAL ESTATE AGENT
• BEST LUXURY HOME REAL ESTATE AGENT and
• BEST CONDO / VILLAS REAL ESTATE AGENT.

Gulf Shores Realty was awarded WINNER for:

• BEST INDEPENDENT REAL ESTATE BROKERAGE and
• BUSINESS OF THE YEAR for the Business and Professional category for 2021 by the Venice Area Chamber of Commerce.

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“Develop a passion for learning. If you do, you will never cease to grow.”

Anthony J. D’Angelo

Education & Training:

While life and regular routines changed quite a bit in 2020 due to COVID, we thought it was an excellent opportunity to continue our education and training. We each spent over 60 hours studying, researching, and learning in order to obtain the Graduate REALTOR® Institute (GRI) designation and enhance our knowledge base covering a variety of subjects including contract law, professional standards, sales & marketing, finance, and risk reduction. The Graduate REALTOR® Institute (GRI) symbol is the mark of a real estate professional who is committed to providing a high level of professional services by securing a strong educational foundation. This enhanced educational training and distinguished designation is one more reason The Ritter Group delivers a superior experience for our customers.

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Latest Marketing Tools:

While we are currently in a very strong Seller’s market, we ensure every one of our listings is portrayed in the most professional manner with top-notch marketing and the latest technology. Prospective buyers are continuing to view and even purchase properties sight unseen. With tools like the 3D Matterport Tour and Enhanced Videos, we will ensure your property is listed and marketed with the best technology and sell for top dollar. Click the links below to see the latest technology tools we offer on our listings.

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Testimonials and Thank You!

We love our customers and work tirelessly for each and every one. We also appreciate the testimonials and thank yous we receive. Buying or selling a home is often one of the biggest investments of your life. We enjoy helping our customers navigate the process from beginning to end (and even beyond) with the least amount of stress. We will always be a resource to you, your friends, and your family.

“If you’re looking for a Realtor in the Venice, Florida area, Matt and Jessica Ritter can’t be beat! I worked with Matt long distance, for approximately 1 1/2 years. We narrowed down our search and when I went to Venice to meet him and find a home, I couldn’t have been more satisfied. A true professional in every aspect! Not only are they outstanding Realtors, they’re outstanding people! Finding you the right home, is just one part of a truly exceptional experience they provide.”

Joe P., Venice, Florida

We love hearing from all of our customers, so please stay in touch and always contact us with any questions or resources you may need no matter how big or small. Feel free to visit and follow us on Facebook, Instagram, YouTube, Google, and LinkedIn, or just give us a call anytime.

Have a wonderful summer, stay healthy, and be happy!

All our best,

Matt & Jessica
Capri “Manager for Morale”
Sal “Supervisor for Success”