Market Information
April 11, 2023
Miami has its share of classic restaurants – and it runs the gamut from Joe’s to Shorty’s. But, over the years, we’ve discovered that simply by being Realtors we come across new restaurants regularly and have become a source for some of our longtime clients. With that in mind, we thought we’d share a few of the new spots you should consider trying on your next night on the town. The Gibson Room – This swanky spot is the perfect combination of unique and familiar. Yes, there’s a marlin on the wall and a line of barstools, but there’s also likely to be a jazz combo playing live and the menu is full of unexpected, and delicious, selections. They also […]
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 […]
January 17, 2023
If you are planning a move to Miami, let me be the first to welcome you! It is such a wonderful and unique city, so learning a bit about the different neighborhoods will be an important step in your search for a home. I have more than 25 years of experience selling real estate locally and am a native of South Florida. Helping people find their dream home here is something my team and I love to do! Each neighborhood in the Miami area has its own style and personality. Let’s talk about a few of those areas and their individual qualities. Coral Gables This family-friendly suburb is packed with charm! Known as “The City Beautiful,” its unique 1920s and […]
January 10, 2023
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
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
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 […]