HOME BUYING INFORMATION
June 6, 2023
Coral Gables’ central location, leafy streets and abundance of, well, everything makes it easily one of the most desirable neighborhoods in Miami. This is old Miami – established in the ‘20s – and the vintage feel is everywhere! Plenty of greenspace, and veryaccessible. Coral Gables is dotted with parks and fountains that add a feeling of peace and relaxation everywhere you go. A Neutral Market Let’s talk about what creates a “neutral market.” It’s mostly related to the amount of housing inventory available and how long it’s expected to remain available. In other words, supply and demand. In a buyer’s market there is at least 6 months’ worth of inventory – plenty of homes to choose from. A seller’s market […]
May 23, 2023
It feels like we spend a lot of time talking about helping growing families find homes with more space, more rooms, bigger yards, more of… everything! There is definitely a time in life when upsizing everything seems like the most obvious choice, but what about the opposite? Downsizing has always been popular for empty nesters for several reasons – who wants to maintain a few extra bedrooms & bathrooms when no one is using them? When you’re looking for the right property for you, bigger isn’t necessarily better. New Season of Life The two biggest reasons most people find themselves shopping for a new home are relocation to a new place, and changes happening in their lives that they want or […]
May 16, 2023
If you live in Florida, it’s important to understand what’s been happening with property insurance here. As of January 1, 2023 several big changes went into effect following special legislative sessions. These sessions were called to address the property insurance premiums rising across Florida. A Little Background First, let’s talk about some of the things that make Florida a unique market for property insurance. Our geography sets us apart from the rest of the continental U.S. No other place is as likely to receive significant damage from hurricanes and tropical storms. Since 2017, the frequency of heavily damaging storms has increased statewide (even if we’ve been relatively protected here in Miami). As a result, insurance companies have paid out significantly […]
May 2, 2023
Pinecrest is one of our favorite neighborhoods. You’ll find many mid-century ranch homes on large lots and gorgeous natural scenery plus some of the most stunning mansions in Miami-Dade. Just north of Palmetto Bay and only about 20 minutes from downtown Miami, there’s a reason leafy Pinecrest is so in-demand: it is great for young families (boasting fantastic schools) and those that are looking for a little space to spread out while still being close to it all. Great Opportunities for Buyers The end of 2022 saw more homes on the market in Pinecrest than we’ve seen in years. However, the price per square foot is up – the average at the end of 2022 was $868 in Pinecrest. Price […]
April 25, 2023
There was a time when hosting an open house was just a forgone conclusion. If you were going to sell a home, you had to have open houses and that was just that. However, times have changed and so have buyers’ expectations. Can’t Buyers See It All Online? This is probably the most common question we get when we’re discussing the option of hosting open houses. The answer is technically, yes. We can provide plenty of photos and even very comprehensive virtual tours online. So, if buyer’s have already found your home and want to schedule a viewing, they are not likely to be the ones you will attract with an open house. On the other hand, buyers who are […]
April 18, 2023
The last couple of years have been a wild ride, there’s no denying that. Miami has been one of the U.S. cities that has not followed the nationwide trends as closely as the majority of the country. But are we immune from a negative trend across the States? What Makes Miami Different? One of the simplest things setting Miami apart from most of the U.S. is the size. We are the 7th largest metro area in the country. Secondly, Miami has a higher-than-average concentration of luxury homes. On top of that we are a coastal city which entices buyers from not only all over the U.S., but internationally as well. Miami is a destination city within a state that has […]
March 21, 2023
Higher interest rates are affecting real estate markets nationwide, and Miami can’t escape the impact fully.. That said, we are still enjoying one of the strongest markets in the country despite some cool-down. So, let’s talk about what you need to know no matter which side of the Miami market you’re on: buyer or seller. Where are We Now? The current average interest rate for mortgages is sitting just below 6.5%, but many of our lenders can do better than that. Feel free to ask us for a recommendation. This is the highest we’ve seen rates since the end of the year in 2007, so it feels high. However, it’s worth recalling that in the fall of 2000 it was right […]
March 7, 2023
Whether you are in the market to buy or sell a home, one of the most important choices you will need to make is which professionals you enlist to work with you through the process. At The Drew Kern Team, we are admittedly biased. We have spent many years honing our processes as real estate professionals while finding the best ways to combine those within our team to make us stronger as a group. The short answer to the question: ‘What are the benefits of working with a Realtor with a team’ rather than one realtor is quite simple. While there are only 24 hours in a day for an individual realtor, for a team of 4 realtors there are 96 hours. Efficiency […]
February 21, 2023
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 […]