Market Information
August 23, 2022
When you’re looking to buy a home in Miami, one of the first things you should check is the flood zone of the property. Flood zones are areas that are more likely to experience flooding, and they’re important to know about because they can affect your insurance rates and your ability to get a mortgage. While it’s important to look for flooding risks in your neighborhood – proximity to canals, for example – that’s not really what we’re talking about here. It’s checking what zone a property is in before you make an offer. Buying a Home in a Flood Zone If you’re looking at homes in a flood zone, it’s important to talk to your insurance agent and lender […]
August 2, 2022
Heading south on US-1 has been a growing trend in real estate for the past couple of years. Because of this, the state of the real estate market in Palmetto Bay and Pinecrest has been leaning heavily towards the sellers since early 2020. Now, as interest rates are rising, what’s most interesting is how little has changed. Currently, there are 112 properties for sale in Pinecrest and 91 in Palmetto Bay. Housing Inventory in Palmetto Bay & Pinecrest The level of inventory is up from last year, but still well below pre-COVID levels of inventory (low inventory typically drives up prices). Homes in Palmetto Bay are currently selling with a median sale price of $1,017,000and Pinecrest homes are going for a median price of $2,623,000. These are both still […]
July 26, 2022
With real estate booming in Miami, waterfront property is becoming increasingly unaffordable. The cost of living near water is rising faster than incomes, making it difficult for people to keep up with the cost of living. In some cases, people are being forced to move away from the water altogether. While costs of properties across the board are rising in South Florida, there are a few other things to consider if you’re looking to purchase a waterfront property: Flood Insurance If you’re buying in a flood zone, which applies to many waterfront properties, you will be required to purchase flood insurance if you are getting a mortgage – read more about that here. Flood insurance covers any losses directly caused by […]
July 19, 2022
There’s no doubt why Miami is a very desirable place to live. With the tropical weather, beautiful beaches, and amazing restaurants, what’s not to love? All these factors – plus the business climate in South Florida – are reasons the real estate market in Miami remains strong. Prices have been rising steadily over the past few years and that has been leading to a common question we get – what is the next ‘It’ neighborhood in Miami? Before we dive in – to be clear, there are many neighborhoods that are attracting a lot of developer attention like Allapattah for which there is a strong argument to be made that it will be the next ‘It’ neighborhood. We’d rather talk […]
July 12, 2022
Real estate is always about location. Neighborhoods are – in a way – defined by their surrounding schools. There is a strong correlation between the quality of the schools nearby and the demand for homes within a given neighborhood (read more about that here. This is why it’s crucial to do your research on districts when house hunting. Even if you don’t have kids, school districts should still be carefully considered when buying a home. Commute Times Near Schools in Miami When looking at a home near schools, we always encourage our clients to check out the neighborhood during drop-off and pick-up times. If you don’t have kids, you may discover that certain streets are not ideal due to school-related traffic. […]
July 5, 2022
The Grove has seen a lot of changes over the past few years – but at the same time, has kept the allure it’s had for decades. There has always been a certain level of walkability and community that other neighborhoods just don’t possess. It’s not hard to see why with the restaurants, new and improved Cocowalk shops, and tree-lined streets, right on the bay. What We’re Seeing in Coconut Grove Real Estate The part of the Grove along Main Highway & Ingraham has been a mainstay in desirable addresses for ages. A decade ago we saw the parts east of Mary st and north of Bayshore flourish. Now we’re starting to see homes on the other side of US-1 […]
June 28, 2022
Looking for your dream home can be a long, emotionally charged journey. So, when you finally find “the one,” you’ll need to jump right in and make an offer – and while it’s important to act quickly, it’s crucial to be smart and thorough when doing so. To ensure a smooth process, there are a few things you should do now so when you find the perfect home, you are prepared to come to the table with the strongest possible offer, especially in a competitive market like this. Get a Preapproval Letter for Your Mortgage This should be completed before you begin looking for a home. Sellers give preference to buyers who have pre-approval letters because it shows that you are a serious and qualified buyer. Although the […]
June 21, 2022
While many agree that hosting an open house is an excellent way to get potential buyers through your door, it is still a heavily debated topic between homeowners and real estate professionals. Truthfully, there are pros and cons to choosing to have or forgo an open house. Having a strong understanding of these pros and cons can help you make an informed decision. Pros Increased exposure – Perhaps more important than having open houses is gaining exposure for your home. While a sale may not come directly from an open house, you will undoubtedly gain exposure from ads, street signs, and promotions for your open house . Low pressure environment – Open houses are usually very laid back and give potential buyers an […]
June 7, 2022
It’s no surprise Miami attracts people from all over the world – the beautiful waters and sunny weather make for the perfect place to settle into a vacation home (or a forever home!) If you’re looking for a vacation property in South Florida, here are some recommendations for top areas to begin your search: Miami Beach A fashion and entertainment capital, playground for celebrities, and oasis for travelers, Miami Beach is the ultimate vacation destination. From 5-star restaurants to gorgeous beaches, there is an unending variety of attractions that will leave visitors and vacationers wanting more. The area is the perfect combination of luxurious and fun. Most vacationers and beach lovers prefer to walk or ride a bike as their main mode of transportation – and with […]