HOME BUYING INFORMATION
January 21, 2025
There’s a huge misconception that Miami-Dade County is one giant playground for the rich. In reality, multiple neighborhoods in Miami are highly affordable and highly welcoming to first-home homebuyers from all sorts of economic backgrounds. Some of these up-and-coming neighborhoods carry the same advantages as their more expensive counterparts, offering a similar quality of life for a significantly lower price tag. The only difference is most people haven’t heard of them, which is bound to happen in such a big County with so many cities, villages, and neighborhoods. Here are four widely overlooked but highly affordable neighborhoods in Miami: Redland Named for the red clay that dominates its geological landscape, Redland (a.k.a. “the Redlands”) is a beautiful community about 20 miles from […]
January 14, 2025
Miami-Dade County is one of the nation’s largest, both by population and by economic size, so it’s no surprise that we continue to draw new residents from across the country. And when those residents decide it’s time to turn from renters into owners, you start to realize how big Miami-Dade County truly is, so finding the right area for your needs and circumstances can be challenging. First-time homebuyers tend to have very specific priorities like proximity to schools, things to do on weekends, and of course, safety. To simplify this process, here are a few neighborhoods in Miami that do a particularly good job of meeting the top priorities of first-time homebuyers. Buying Your First Home in South Miami/Dadeland A […]
January 7, 2025
Located just South of Pinecrest is Palmetto Bay, a beautiful city that’s perfect for families with school-aged children. It’s also ideal for anyone who wants the quiet lifestyle of the suburbs without being too far from the Gables, Brickell, and Downtown Miami. Between its plentiful green space, high quality schools, and a classic “small town” vibe, Palmetto Bay is one of the most desired neighborhoods in Miami-Dade County. Here’s what you need to know about the latest numbers on residential real estate in Palmetto Bay. Palmetto Bay Home Sales In Palmetto Bay, there are currently 120 homes for sale, a number that has been climbing steadily since July. That’s 66.7% more homes for sale than this time last year, which […]
December 3, 2024
The South Miami housing market remains fairly competitive, with plenty of homes on the market but fewer homes sold compared to the past six months. Inventory is up by nearly 40% in South Miami, a stronger sign of a buyer’s market that we haven’t seen since before COVID. From a seller’s perspective, this suggests you should make sure your home doesn’t stay on the market for too long. South Miami Home Prices In September of 2024, the median listing home price in South Miami was $557 per square foot, putting it in the same range as nearby Coral Gables. That’s also 6.1% increase since August 2024, but within the same general ballpark as the summer and spring. How Quickly are […]
November 26, 2024
If you’re thinking of buying or selling a home, it’s important to pay attention to your local housing market to see if your area is currently in a buyer’s or a seller’s market. This can give you an idea of how to approach each process and give you an advantage over other buyers or sellers. In a seller’s market, the demand for homes exceeds the supply. Based on the basic laws of supply and demand, this gives sellers the upper hand because it means that buyers have fewer houses to choose from. Under these conditions, homes typically sell very quickly, and sellers typically receive multiple offers over asking price. Here are a few more ways to tell you’re in a […]
November 19, 2024
Buying a home is a complex process with many steps. One of them is getting your dream home inspected by a licensed professional. Some home buyers may feel tempted to skip this step because they think it will speed up the purchase process. Or, they just don’t want to pay for it. But the truth is, a home inspection can save you from making a catastrophic mistake by unknowingly purchasing a home in need of major repairs. Before delving into more reasons to get a home inspection, let’s break down what a home inspector actually does: What is a Home Inspection? The purpose of a home inspection is to alert you of any potential safety hazards or usability problems in […]
November 12, 2024
Buying or selling a home is a life-changing decision. So, it’s no surprise that sometimes, a buyer or a seller will suddenly change their mind and decide to back out of a signed real estate contract, or home purchase agreement. Can someone legally do this? The short answer for both parties is yes. But whether you’re a buyer or a seller, canceling a real estate contract can come with a few consequences. In some cases, you could run into serious financial and legal implications. Can a Buyer Back Out of a Real Estate Contract? As a home buyer, yes, you can back out of a home purchase agreement. What happens next, however, is determined by the terms and conditions of […]
October 29, 2024
There are two types of letters you can get from a bank when you’re looking to buy a home: a pre-qualification letter and a pre-approval letter. Pre-qualification gives you a ballpark estimate on how much you’ll be able to borrow to buy a home, whereas a pre-approval is more detailed and says exactly how much you will be able to borrow. You should have a pre-approval letter before you are ready to make an offer on a home. Why You Need a Pre-Approval Letter to Start the Buying Process For many first-time buyers, once they get their pre-approval letter from a mortgage banker, the process begins. While you can make an offer on a home with just a pre-qualification letter, it […]
October 22, 2024
Open Houses are used by sellers to get a lot of foot traffic and hopefully get an offer or two. For first time buyers, Open Houses are different – especially if you are not 100% sold on the home before you walk in the door. They are a great crash course in learning how to look at homes for sale. And if you’re coming into town from out-of-state, they are a great chance to see a lot of homes in a small time frame. Here’s how we tell our clients to use Open Houses to find the right home. Get a Feel For the Neighborhood For many first-time buyers, once they get their pre-approval letter from a mortgage banker, they typically go […]