My Go to Realtor®

Navigating the Miami Real Estate Market: Overcoming the Biggest Obstacles for Home Buyers The Miami real estate market is one of the most dynamic in the country, but for many home buyers, it presents significant challenges. The biggest obstacle? A combination of high property prices and limited inventory. Miami's appeal as a global destination, coupled with strong population growth and an influx of out-of-state buyers, has driven demand to new heights. This increased demand, paired with a relatively low supply of available homes, has led to steep price increases. For many buyers, particularly first-time buyers, this makes finding and affording a home more difficult than ever. Adding to the challenge are rising interest rates and stricter lending standards, which can make securing favorable financing a hurdle. In such a competitive market, where cash offers and bidding wars are common, the path to homeownership can feel daunting. But don't let these obstacles deter you. With the...

Our synopsis of  "How to Choose a Home" from U.S. News Real Estate: How to Choose a Home Buying a home is a big decision, and it's important to do your research and make sure you're choosing the right place for you. Here are some tips on how to choose a home: Set your budget. The first step is to figure out how much you can afford to spend on a home. This will help you narrow down your search and focus on homes that are within your price range. Consider your needs and wants. Think about what's critical to you in a home. Do you require a lot of space? Do you want a certain number of bedrooms and bathrooms? Do you want a yard? Once you know what you're looking for, you can start narrowing down your search. Do your research. Once you have a general idea of what you're looking for, it's time to start doing some research. Read online reviews, talk to friends and family who have bought homes, and visit open houses. The more information you have, the be...

The U.S. housing market to see second-biggest correction of the post-WWII era—when to expect the home price bottom AS PUBLISHED IN FORTUNE BY LANCE LAMBERT November 7, 2022 at 7:45 PM EST Home builders and economists alike saw the 2000s housing bubble brewing—they just didn’t think it would burst. Their reasoning being, that at the time, home prices hadn’t really fallen since the Great Depression era. “I think that the religion people had from 1946 to 2008, that housing prices always go up, is dead. My parents believed that it was literally inconceivable for [home] prices to go down,” Redfin CEO Glenn Kelman tells Fortune . That “religion” of course came crashing down after the bursting housing bubble caused U.S. home prices to fall a staggering 27% from 2006 to 2012. Knowing that home prices can indeed fall, Kelman says, is why builders and flippers started cutting prices faster this time around. Once the market shifted , they wanted to get out first. “Folks [are] responding [in 2022]...

As published in MReport The newest  national survey  of new homeowners commissioned by  U.S News & World 360 Report Reviews  found that a majority of new homeowners who purchased a home since the beginning of 2021 reported that they felt “house rich and cash poor” with many admitting they felt pressure to buy as home prices ramped up.   Click here  to view the report in its entirety.  

MIAMI — Swiss investment firm Empira Group has purchased a half-acre site west of Miami’s Brickell district for the development of CoralGrove Brickell, an 85-unit apartment community. Read more

As mortgage rates climbed back upward,  rising more than 40-basis points week-over-week , mortgage application volume fell yet again, as the Mortgage Bankers Association (MBA) reported  apps decreased 3.7% week-over-week , for the week ending August 26, 2022. Read more

The state-backed Citizens Property Insurance Corp. could raise policy coverage limits above the $700,000 threshold currently in place The move comes amid a scramble by homeowners to find insurance coverage and many companies have exited the Florida market With home prices still rising, many homeowners have nowhere else to turn except the state-backed Citizens, but current coverage limits exclude homes valued over $700,000 Citizens Insurance could raise policy limits as homeowners struggle to find coverage | The Capitolist

Kittisak Jirasittichai / EyeEm / Getty The company strived to be No. 1 and once churned out a third of all U.S. mortgages. But it’s cutting ties to outside lenders after years of regulatory struggles. Read full article in Florida Realtors

CREDIT: US ARMY CORP OF ENGINEERS A bill to make homeowners pay roof-replacement deductibles failed, but OIR says it can be an insurer option, such as lower premiums for owners willing to take a risk. Fla. Regulator: Insurers Can Offer Roof Deductibles

U.S. Home Price Insights Through July 2021 with Forecasts from July 2022 July 2021 National Home Prices Home prices nationwide, including distressed sales, increased year over year by 18% in July 2021 compared with July 2020 and increased month over month by 1.8% in July 2021 compared with June 2021 (revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results). U.S. Home Price Insights | CoreLogic®

‘Stunning’ Delinquency Spike Could Mean ‘Bumpy Waters Ahead’ As publishedin  Daily Dose ,  Due to forbearance plans, home foreclosures are at record lows, but skyrocketing serious-delinquency rates point to a rough road ahead. That is, according to CoreLogic, provider of property-data analysis, which just released its monthly  Loan Performance Insights  report for August. It showed, nationally: Overall delinquency rate for August was 6.6%. The rate for early-stage delinquencies (30 to 59 days past due) was 1.6%, down from 1.8% in August 2019. The share of mortgages 60 to 89 days past due was .8%, up from .6% in August 2019. The serious delinquency rate(90 days or more past due, including loans in foreclosure) was 4.3%, up from 1.3% in August 2019. This is the highest serious delinquency rate since February 2014. As of August 2020, the foreclosure inventory rate was .3%, down from .4% in August 2019. “Five months into the pandemic, the 150-day delinquency rate for Aug...