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Extraordinary Homes in Miami and Miami Beach Blog

Monday, September 19, 2022   /   by Enrique Tejera

8 Strategies to Secure a Lower Mortgage Rate

8 Strategies to Secure a Lower Mortgage Rate
 
Mortgage rates have been on a roller coaster ride this year, rising and falling amid inflationary pressures and economic uncertainty. And even the experts are divided when it comes to predicting where rates are headed next.1
 
This climate has been unsettling for some homebuyers and sellers. However, with proper planning, you can work toward qualifying for the best mortgage rates available today – and open up the possibility of refinancing at a lower rate in the future.
 
How does a lower mortgage rate save you money? According to Trading Economics, the average new mortgage size in the United States is currently around $410,000.2 Let’s compare a 5.0% versus a 6.0% fixed-interest rate on that amount over a 30-year term. 
 


Mortgage Rate 
(30-year fixed)

Monthly Payment on $410,000 Loan
(excludes taxes, insurance, etc.)

Difference in Monthly Payment

Total Interest ...

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  buying a home

Thursday, April 21, 2022   /   by Enrique Tejera

Hedge Against Inflation With These 3 Real Estate Investment Types

Hedge Against Inflation With These 3 Real Estate Investment Types
 
 
The annual inflation rate in the United States is currently around 7.5%—the highest it has been since 1982.1 It doesn’t matter if you’re a cashier, lawyer, plumber, or retiree; if you spend U.S. dollars, inflation impacts you.
 
Economists expect the effects of inflation, like a higher cost of goods, to continue.2 Luckily, an investment in real estate can ease some of the financial strain.
 
Here’s what you need to know about inflation, how it impacts you, and how an investment in real estate can help.
 
 
WHAT IS INFLATION AND HOW DOES IT IMPACT ME?
 
Inflation is a decline in the value of money. When the rate of inflation rises, prices for goods and services go up. Therefore, a dollar buys you a little bit less with every passing day.
 
The consumer price index, or CPI, is a standard measure of inflation. Based on the latest CPI data, p ...

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  miami, miami beach, buying a home

Thursday, February 3, 2022   /   by Enrique Tejera

8 Popular Home Design Features for 2022

8 Popular Home Design Features for 2022
 
There’s a lot to consider when selling your home, from the market and appraisals to where you’ll go next. Don’t forget, however, that design is also a key factor. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control.
 
According to Realtor.com’s 2022 housing market forecast, home for-sale inventory will increase from last year, as will the projected number of overall sales.1 This means, if you’re looking to sell in the near future, now is the time to consider how you can stand out.
 
Updating your home design is one way to do that. Changes like new security features or upgraded siding can add value to your home now and be highlighted when you market it for sale later. To get the most out of your updates, focus on these popular home design features that will wow buyers in 2022.
 
Keep in/ ...

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  miami, miami beach, buying a home, selling a home

Tuesday, January 4, 2022   /   by Enrique Tejera

A Return to ‘Normal’? The State of Real Estate in 2022 and how it affects you

A Return to ‘Normal’? The State of Real Estate in 2022
 
 
Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021.1
 
However, there were signs in the fourth quarter that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war—down from a high of 74.5% in April.2 While this trend could be attributed to seasonality, it could also be a signal that the real estate run-up may have passed its peak.
 
So what’s ahead for the U.S. housing market in 2022? Here’s where industry experts predict the market is headed in the coming year.
 
 
MORTGAGE RATES WILL CREEP UP
 
Most economists expect to see mortgage rates gradually rise this year after hitting record lows in late 2020 and early 2021.3
 
Freddie M/ ...

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  miami, miami beach, buying a home, southeast florida

Thursday, November 18, 2021   /   by Enrique Tejera

TRENDS November 2021 - Southeast Florida Real Estate Market Report including Miami Dade and Miami Beach

The Real Estate Market Along Florida's East Coast
Market conditions along the Florida East Coast continued to strengthen in October, with a rebound in sales volume and price gains throughout most neighborhoods. The strong economic conditions, highlighted by a low unemployment rate of 4.7%, and lifestyle continued to attract new residents to the region, adding to the demand for homes. The recovering tourism market, particularly from international travelers, will improve economic conditions and potentially return a missing demand segment to the market.
Sales activity stabilized in October, changing little from the previous month. In October, more than 9,700 single family homes and condos sold along Florida’s East Coast. While closed sales fell by 13% compared with last year, sales velocity last fall was influenced by pandemic-related purchases and migration. Compared to 2019, when market conditions could be considered more normal, sales were up by 11%. By property type, condo ...

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  miami, miami beach, buying a home, selling a home, market report, southeast florida

One Sotheby's International Realty
Enrique Tejera, P.A.
119 Washington Ave. Ste 102
Miami Beach, FL 33139
305-814-4686

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