HOME SELLING INFORMATION

May 2, 2023

State of the Market: Pinecrest

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 18, 2023

Is Miami Immune to the U.S. Market Correction?

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

Interest Rates are Affecting Miami’s Market – What You Need to Know

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 14, 2023

Managing Selling a Home in a Rising Rate Market

The simple fact is that we are unlikely to see mortgage interest rates head anywhere near where they were pre-2022 anytime soon. So, what does this mean for sellers? Here – in the Miami market at-large – it doesn’t mean that we expect to see any shortage of buyers. No, the demand is still there, but what we will see change is a shift in competition.  The golden hour of buyers competing with each other has mostly expired. Instead, it will be sellers competing to offer buyers the most bang for their buck to make those higher interest rates worth it.  Price Competitively Let’s start with pricing – how do you know what price is attractive enough to buyers without […]
March 7, 2023

What are The Benefits of Working with a Realtor Team?

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

Why Photography Is Important When Listing Your Home

Curb appeal has always been essential when it comes to real estate. And the fact is that we know live in an online world. In other words, the first impression nearly 100% of potential buyers will have of your home is the images in your online listing. With just a few quick clicks they will browse the photos and decide if your property is enough of a contender to view in person. Don’t miss out on the opportunity to wow them! Quality Over Quantity When posting pictures anywhere on the internet, having ten great pictures is always better than twenty mediocre ones. We see so many listings in which all the interior photos do is confirm that the home has […]
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 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 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 […]