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Miami’s Current Real Estate Market: Will higher interest rates affect sales?

Interest rates have increased nationwide on various forms of consumer borrowing and 30-year fixed-rate mortgages were at 5% on April 5th, up from 3%. Interest rates in Florida are currently at 5.12% for a 30-year fixed and 4.30% for a 15-year fixed mortgage according to Bankrate.com. Although real estate experts were speculating that interest rates would affect sales in Miami, there’s no evidence to suggest that they have affected the real estate market as of yet.  “I am not seeing a slow-down as of yet” said luxury real estate advisor…

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Miami Housing Market: Insights & Projections

The real estate market is constantly changing. At any given time, buyers and sellers may have more questions than answers. In the spring of 2022, many Miami residents are wondering when the housing market will balance out. What is a balanced market? First, it’s important to understand what a balanced housing market looks like. Whether it’s a buyer’s market, a seller’s market or a balanced market has everything to do with the “months supply of inventory” or MSI. To determine the MSI, an individual must estimate how long a home…

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Miami Real Estate Heads into 2022 Amidst a New Cloud of Doubt

It seems there is no way to keep up with the news anymore. Weeks ago there was an article in the WSJ about the return of foreign buyers to the Miami Condo market. The article was touting new data showing that Miami-Dade County home sales reached 9.962 in the 3rd quarter, the second highest total on record. A few days later, the outlet was dominated by articles about a new variant which can or may not pose a new round of threats to our way of life. Their headlines lamenting…

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MJB Renovation Series: A Paint Story

We’re renovating! Well, several of our clients seem to be. One day this week we met up with one of them at the local Benjamin Moore outpost on Coral Way. I’ve taken up the role of designer, helping guide a Coral Gables client in selecting a fresh new paint color for their home’s exterior. The reason I selected this store was that they have isolated out the Coral Gables city hall approved colors for us to peruse and purchase samples of. As a Coral Gables resident myself, I am very…

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Introducing: The Up & Coming “Coral Grove” Neighborhood

When you want to identify the next boom neighborhood in South Florida, refer to our exclusive listings page. Over the past few years, I have been working with the developers who are snatching up land parcels in one of these areas which I’m now calling “Coral Grove.” The name refers to the location where I’ve been representing luxury villas and townhomes in a place which is on the cusp of both the Grove and the Gables. To locate this area, envision US1 at its East, Douglas Rd (aka 37th Ave)…

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