Buyer Information
December 14, 2022
Building a new home from the ground up is a wonderful opportunity to create your dream home. Of course, finding the right location is at least half of the challenge. Shopping for land is a very different experience from being in the resale or pre-built housing market. This is far from a comprehensive list of things to consider, but it’s a good start to prepare you for the market. Location, Location, Location Searching for the right location to build a home is a bit different than finding a home in a desirable location. When you’re shopping for a house so much of what makes a location attractive is related to the existing homes and infrastructure. If you want to build […]
December 13, 2022
Have you been casually browsing houses for sale lately? When you find yourself daydreaming about buying a home it’s easy to get caught up in the excitement. As much as we absolutely want to help you find a home to buy, we also want to help you make sure it’s the right time for you. We want all our buyers to go into their purchase with confidence. In a Good Financial Position You’ll need to have enough cash saved up for a down payment. 20% of the purchase price is the rule of thumb (though there are many exceptions) and a good amount to plan for. You’ll also need some savings set aside to pay for necessary repairs as they […]
December 6, 2022
Here in Florida we have seen some significant and immediate changes to laws regarding homeowner’s insurance policies in 2022. Two bills were passed and became effective immediately when they were signed by the governor in May. These are available to read in their entirety if you want to do a deep dive. We are all still learning more about these, and some of the impacts won’t be clear until we have a chance to see how they apply over time. In the meantime, let’s talk about what the landscape looks like today. The Upside Let’s start with the good news. New laws are in place to attempt to reduce fraudulent claims. Fraud especially related to roof claims has been a large factor […]
November 15, 2022
With all the talk of interest rates and federal interest rate hikes in the news, it makes sense to talk about it and how it impacts our daily lives. Being in the real estate business means these rate changes are something I monitor all the time – even when it’s not making the news. However, it does have a much farther-reaching impact on almost everyone. What Exactly IS the Federal Interest Rate? First, let’s address what it’s not. The Federal Interest Rate is not the rate consumers pay, though it does indirectly affect consumer rates. The U.S. Central Bank sets the Federal Interest Rate which is the rate at which bank-to-bank transactions are made. Every other interest rate in the […]
October 18, 2022
If you’re a long-time resident of Miami, you already know that Snowbirds used to be a larger segment of the population, but still exist. We also have a unique housing market largely due to our status as an international city that draws investors from around the world. Because of these factors, it’s important to evaluate the real estate market in Miami based on the specific type of property and neighborhood you’re looking to buy, rather than as an entire aggregate. What do Snow and Birds Have to Do with the Condo Market in Miami? “Snowbird” is a term used for the part-time residents of Miami who own property – usually condos – but only occupy them during the winter months […]
September 27, 2022
A Home’s Location in Miami You’ve heard it before – location, location, location! The question is which location factors are most important for you and your family? Let’s go over a few. School districts are likely at the top of your list if you have children, but even if you don’t, it should still be a consideration. Desirable school districts drive prices into higher brackets which might be a deterrent on the buying end, but it will also give you an opportunity for higher resale value later. Proximity to grocery stores, shopping centers, outdoor activities like biking trails or marinas, and other public use spaces is also good to keep in mind. A neighborhood close enough to access these amenities easily, […]
September 13, 2022
As we move into the fall of 2022, the Coral Gables market is continuing to trend upward. Fall of 2021 into winter of 2022 saw pricing swings in both directions. However, we are back on the steady upward track we were seeing for much of last summer. The median sale price in the area is $950K, which is up 8.6% year over year. Homes are being sold in about 32 days on the market compared to 63 days during this same period last year. The number of homes sold, however, is down 35.4%: 104 homes were sold in June of this year, while it was 161 in June of 2021. What Does It All Mean? The data suggests we are […]
August 16, 2022
If you live in Miami, impact windows are a must. Impact windows are made of impact-resistant glass and are held in place by a strong frame. They are designed to help protect your home from damage during a severe storm or hurricane. What’s more – not only will they protect your home and your family during hurricane season, but they will also help keep your energy bills low by keeping your home cool in the summer. Here are some other reasons why impact windows and doors are so important if you are buying or selling a home in Florida: They Increase the Value of Your Home If you are selling your home, impact windows will increase the value of your home. […]
July 26, 2022
With real estate booming in Miami, waterfront property is becoming increasingly unaffordable. The cost of living near water is rising faster than incomes, making it difficult for people to keep up with the cost of living. In some cases, people are being forced to move away from the water altogether. While costs of properties across the board are rising in South Florida, there are a few other things to consider if you’re looking to purchase a waterfront property: Flood Insurance If you’re buying in a flood zone, which applies to many waterfront properties, you will be required to purchase flood insurance if you are getting a mortgage – read more about that here. Flood insurance covers any losses directly caused by […]