There’s Only Half the Inventory of a Normal Housing Market Today

Written by Miami Beach Mortgage Syndicated User on August 9, 2023. Posted in For Sellers, Housing Market Updates, Miami Beach Mortgage, Mortgage Miami Beach, Selling Myths.

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. This graph from Calculated Risk can help put that into perspective: As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% – and it was...

Miami Spice 2023 | Participating Michelin-Honored Restaurants

Written by Miami Beach Mortgage Syndicated User on August 8, 2023. Posted in Around Town, Miami Beach Mortgage, Miami Restaurants, Miami Spice, Michelin Guide, Mortgage Miami Beach, Neighborhoods.

For 2023, there are a record 208 local restaurants participating in Miami Spice, which runs from August 1 – September 30 each year. These are the participants who have received either a Michelin Star or a Michelin Bib Gourmand…

Four Ways You Can Use Your Home Equity

Written by Miami Beach Mortgage Syndicated User on August 8, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Foreclosures, Miami Beach Mortgage, Mortgage Miami Beach, Move-Up Buyers.

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: “While the pandemic created serious challenges, the silver lining for anyone who owned a home was...

Just Listed | Renovated Waterfront 3 Bedroom In Miami Beach For $995,000

Written by Miami Beach Mortgage Syndicated User on August 6, 2023. Posted in Just Listed, Luxury Condos, Luxury Listings, Miami Beach Mortgage, Miami Beach Waterfront Condos, Millionaire's Row Miami Beach, Mortgage Miami Beach, Neighborhoods.

The Grandview Condominiums is a gorgeously-renovated waterfront 3-bedroom condo with spectacular views of the Atlantic Ocean, Intracoastal Waterway as well as Miami Beach. It is a very remarkable property that is offered for $995,000…

Ugo Colombo Plans To Build Four Seasons Coconut Grove

Written by Miami Beach Mortgage Syndicated User on August 6, 2023. Posted in Breaking News, CMC Group, Coconut Grove New Construction, Miami Beach Mortgage, Mortgage Miami Beach, Neighborhoods, New Construction.

Sources have revealed that Ugo Colombo has teamed up with Fort Partners to bring the Four Seasons Coconut Grove at the location owned by CMC Group at 2699 South Bayshore Drive, according….

The Shore Club Residences in Miami Beach Lands $430M Construction Loan

Written by Miami Beach Mortgage Syndicated User on August 5, 2023. Posted in Luxury Condos, Miami Beach Luxury Condos, Miami Beach Mortgage, Mortgage Miami Beach, Renderings, Shore Club Residences.

In a groundbreaking deal, The Shore Club Residences at 1901 Collins Avenue in Miami Beach has landed an incredibly difficult construction loan for their new waterfront super-luxury tower. The loan is valued at $430 million and is based upon developer reputations, buyer liquidity and sales.

Housing Market Forecast for the Rest of 2023 [INFOGRAPHIC]

Written by Miami Beach Mortgage Syndicated User on August 5, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Miami Beach Mortgage, Mortgage Miami Beach, Pricing.

Some HighlightsWant to know what experts say will happen in the rest of 2023? Home prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth.Where mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool.Even though low inventory continues to be a challenge, experts project 5 million homes will still sell this year. That pace should pick up if rates come down.

How Inflation Affects Mortgage Rates

Written by Miami Beach Mortgage Syndicated User on August 4, 2023. Posted in Buying Myths, For Buyers, Housing Market Updates, Interest Rates, Miami Beach Mortgage, Mortgage Miami Beach, Move-Up Buyers.

When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed). But how does this decision affect you and your plans to buy a home? Here’s what you need to know.The Fed is trying hard to reduce inflation. And even though there’s been 12 straight months where inflation has cooled (see graph below), the most recent data shows it’s still higher than the Fed’s target of 2%: While you may have been hoping the Fed would stop their hikes since they’re making progress on their goal of bringing down inflation, they don’t...

How To Know If You’re Ready to Buy a Home

Written by Miami Beach Mortgage Syndicated User on August 3, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Miami Beach Mortgage, Mortgage Miami Beach.

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make.While housing market conditions are definitely a factor in your decision, your own life and your finances may be even more important. As an article from NerdWallet says:“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation,...

Sellers: Don’t Let These Two Things Hold You Back

Written by Miami Beach Mortgage Syndicated User on August 2, 2023. Posted in Buying Myths, For Buyers, For Sellers, Miami Beach Mortgage, Mortgage Miami Beach, Selling Myths.

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.Challenge #1: The Reluctance to Take on a Higher Mortgage RateAccording to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):But today, the typical 30-year fixed mortgage rate offered to buyers...

Author: Miami Beach Mortgage Syndicated User