https://youtu.be/L9EG18QsxeUHere's also the chart I review in this video - This is a Miami Real Estate Market Update.

Quick Real Estate Market Update for Miami, Coral Gables and Brickell Areas

This is an in-depth look at the Miami Real Estate market including overall Miami-Dade, plus: Coral Gables, Coconut Grove, Pinecrest, and Brickell. This video is 10 minutes long and goes over themarket statistics with explanations.

Miami ranked in Zillow's Top 10 Housing Markets for 2023. Let's explore factors that have contributed to the overall strength of the Miami real estate market and our overall economy in Miami-Dade County in this short video, 3 minutes long.

Overall Projections for 2023 Miami Real Estate, lets take a look at factors that contributed to our growth in the past few years, and look at where we are at now.

Real Estate is Regional! Here's a video update for Miami Real Estate, focusing on Coral Gables, Coconut Grove, South Miami, Pinecrest, and Palmetto Bay.  This video is 9:50 long and is optimal if watched in front of a larger screen, as market charts are shown.

July 2020 Marked The Lowest Mortgage Interest Rates On Record

The average rate for a 30 year fixed conventional loan dropped to 3.1% and some lenders have been able to provide even lower rates, depending on one's personal financial picture.  Here are a few graphs illustrating the significance of recent lower rates and money saved over the life of the loan.  These low rates, along with pent up buyer demand due to the Covid-19 virus and the shelter in place order, have added to our already active market.  In many areas and price ranges, we are seeing home sales at a quicker pace and for a higher price. Sellers and buyers both benefit with lower rates because the overall cost of the loan is less and a buyer can qualify for a larger loan amount, motivating buyers to take advantage of this opportunity to make a move.

The first chart shows a $500,000 loan amount. The 3% interest rate fixed over 30 years amortized would equate to a total interest paid of $259,887 over the life of the loan, and a monthly payment for principal and interest of $2,108. At a 5% interest over the same period of time, the total interest would equal $466,788, and the monthly payment would be $2,684, or $576 higher per month. The 2% difference represents a savings of $207,891 over the life of the loan. Interest rates were averaging 4.72% in August of 2018, and they have since been hovering around the 4.5 to 4% mark until dropping back below 4% this year. 

The second chart depicts the same scenario for a $1 Million loan amount.  The total loan difference of 2% at that amount equals a savings of $414,783.  Rates vary on a day to day basis and what is quoted can depend on a number of factors including a buyer's credit worthiness plus the type of residential loan as there are many options.  

30 YEAR MORTGAGE TREND HISTORY   Source: Macrotrends

Here's the latest on what's going on with Miami Real Estate during the Coronavirus pandemic. The number of sales have been increasing on a weekly basis during April 2020, while new listing inventory has declined.  Watch my video for short explanation of our market.

Here's a virtual video walk-through tour of this spacious 5 bedroom / 4 bathroom home with 4,550 square feet, located at 8271 SW 172 ST. Palmetto Bay, FL. 33157. Please tour the video above, and find more info including floor plans in photos in this link: 8271 SW 172 ST Home. 

Here is a video walk-through tour of this historically designated Coral Gables home at 1425 Sorolla Avenue, Coral Gables, 33134.  This is gorgeous property with a total of 3 bedrooms and 3.5 bathrooms, including 2 bedrooms and 2.5 bathrooms in the main house, plus a studio apartment 1 bedroom / 1 bathroom, which is located above the carport.  Built in 1925, there is wonderful character and charm throughout, from the arched entryways, fountains, to the high ceilings and casement windows. Plenty of colors and textures make this a very unique and special place. In addition to the main living / dining area, you will see a library - home office which has a powder room, as well as a nice sized family room flanked with windows. The home has been significantly updated with a large master suite which was added on. All the doors are impact glass.  Please enjoy this home tour and reach out to me for more information, and if you would l like to set up a private showing. Here's the link to the property on this site: Video 1425 Sorolla AVE.