HOME BUYING INFORMATION

February 21, 2023

How to Choose the Right Realtor for You

Whether you are in the real estate market as a buyer or seller, choosing the right realtor for you is the most important early step in the process. But how do you know who to choose?  Experience is Key Whether you’re buying or selling, your realtor should be experienced in your area. Building up a reputation and a basis of knowledge in specific areas give realtors a big advantage over agents who are less familiar with individual neighborhoods. Miami is a large, unique city with many different areas that appeal to different people for different reasons. A realtor who works mostly in Aventura might not know the nuances of smaller areas within Pinecrest.  Moreover, real estate is moving fast! Buyers […]
February 14, 2023

Property Insurance: What You Need to Know When Buying in Miami

If you are already a Florida resident moving into Miami, you are accustomed to the issues you will face with property insurance. If you are new to the state, however, this will be a little crash course for you. Property insurance in Florida is more expensive than in many areas of the country, and you will likely have questions. For help understanding the ins and outs of every financial decision when it comes to Miami real estate, including homeowners insurance in Florida, you can call on The Drew Kern Team to give you an honest opinion.  What’s the Situation? It’s no surprise that Florida has a higher risk of severe and damaging storms when compared with the rest of the […]
February 7, 2023

State of the Market: Palmetto Bay

Just south of Pinecrest and north of Cutler Bay lies Palmetto Bay, one of the more popular suburbs in Miami-Dade County. There are currently 95 homes for sale in this area, which is about on par with the inventory we’ve seen in the second half of 2022.  This long-sought after neighborhood for families with school-aged children remains competitive but has seen a downturn at the end of 2022. This makes it an excellent time for buyers to jump in to grab a property at a lower price point than has been typical for this neighborhood over the past year.  Palmetto Bay Home Prices Price per square foot in Palmetto Bay started 2022 off low, at $343. The price per square foot for […]
January 24, 2023

Upsizing? What to Consider When Buying a Bigger Home

Anytime you start thinking about shopping for a new home, it is an exciting time. People move for many different reasons, and when they do, it’s not uncommon for them to be looking for an upgrade of some kind. A growing family is another very common reason people start shopping for larger homes.  If your current home is starting to feel cramped, upsizing to a bigger home may give you just the breathing room you’re looking for. But before doing so, be sure to first think through some of these more practical parts of moving into a bigger home. Bigger House, Bigger Bills It might seem obvious that a larger house will come with a larger price point. However, it’s […]
January 10, 2023

What’s Happening with the Miami Rental Market?

Miami has been the red hot center of a nationwide rental market boom. In South Florida, rent rose nearly 25 percent between the summer of 2021 and summer of 2022. On top of that, almost 97 percent of rental inventory in Miami-Dade County is occupied. Available properties have multiple applicants all hoping to score a place to live. While rent is up and inventory is down in major cities across the US, nowhere has it been as dramatic of a shift as we’ve seen here.  Expectations for 2023 I expect the rental market will continue to have high prices and high demand throughout 2023, and likely beyond. The storm season we experienced in 2022 factors in to these high prices […]
January 3, 2023

What To Expect in the 2023 Miami Market

Sometimes markets are easier to predict than others, and this one… well, there are a lot of moving parts. I’m certainly no fortune teller and any number of things could impact my best guesses.  At any rate (pun very much intended), I’ll give you my thoughts as of now about what to expect with the Miami real estate market for the upcoming year. Will Housing Prices Go Up or Down? The next several months will be different, a “back to normal” market, but that doesn’t mean a loss of all the gains we have seen over the pandemic price surge. In fact, in most areas of Miami prior to 2019, I would say we were undervalued from a global perspective as […]
December 14, 2022

Looking to Build New? 5 Things to Consider when Looking for Land

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

4 Signs To Know it’s Time to Stop Renting and Consider Buying Property

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 […]
November 15, 2022

Interest Rates are Up: What Does this Mean for You?

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 […]