Interest Rate Increases And Their Effect on the South Florida Real Estate Market

The Federal Reserve intensified its fight against inflation in June by announcing the biggest interest rate increase in 28 years as the government's main lending institution tries to rein in skyrocketing consumer costs. 

The largest increase since 1994, the Fed increased its benchmark interest rate by three-quarters of a percentage point. That comes after increases of a quarter point in March and a half point in May. The increase is due to growing prices for rent, groceries, gasoline, and a variety of other goods and services. Higher interest rates will increase the cost of carrying a credit card bill, obtaining a vehicle loan, and purchasing a home.

Rate increases are anticipated to continue in the upcoming months. In general, Fed policymakers…

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Will Florida's Housing Market Cool Down or Crash?

Florida seemingly continues to operate in its own world—at least when it comes to real estate. While signs indicating slowing momentum are popping up more and more throughout the nation, six of the top 25 overvalued home markets are right in our backyard, and several new studies indicate a prolonged period of unaffordability.

Florida Atlantic University, Florida International University, and the University of Alabama found that the current combination of high demand and low inventory that began at the start of the pandemic is likely to continue thanks in part to future population growth projections.

Which Florida Communities Are The Most Overvalued?

Of the six Sunshine State metro areas identified, Fort Myers topped the list. Typical buyers…

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Five Reasons We Won’t See A Housing Crash in 2022

It may be hard to believe, but the South Florida real estate market is quickly approaching the conclusion of its second full calendar year of record-shattering pace. Homes and condos are still selling nearly as quickly as they were at the start of the COVID-19 pandemic, and setting new highs along the way. 

With respect to Mr. Gordon Gekko, many real estate experts and economists—not to mention home buyers and sellers—aren’t convinced that all this greed is good. Headlines abound regarding a potential housing crash which would rival that of the late ‘00s. While it’s true that some cherry-picked data trends could cause concern, the fact of the matter is we find ourselves in a far different climate; one that could actually turn out positively for…

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South Florida’s Rental Market Must Be Addressed

South Florida’s rental market has long been less-than-ideal for non-homeowners.

Landlords operated happily within the free market, raising their rates and easily finding plenty of takers ready to bask in the temperate weather and vibrant culture that our region offers. Those whose bank accounts couldn’t keep up were hastily left behind.

The past year seems to have accelerated the trend even more as too few new apartments have been built, and affordable housing has become even more scarce. Renters seemingly have little to no control of the market, making Florida one of the worst locations in the country to rent in. This reality has re-started the conversation over rent control—a proposal that has always failed in the past; but with examples set…

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Could Mandatory Inspections Prevent Future Condo Tragedies in Boca Raton?

In the wake of the tragic collapse of the Champlain Towers South in Surfside, more questions and concerns regarding the safety of buildings throughout South Florida have emerged seemingly every day. Now, a coalition under Palm Beach County’s League of Cities has proposed an inspection of many condos, apartment buildings, hotels, and offices both east and west of I-95.

The proposal targets buildings a minimum of 25 years old east of the highway, and 35 years old on the western side, regardless of height. This surpasses the standard of 40 years of age in Miami-Dade and Broward counties. While one and two-family homes, government buildings, and schools are excluded, this would result in a massive undertaking, as 90% of the condominiums stretching from…

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Moving? Where to go to learn more about your new neighborhood.

Moving to a new neighborhood brings with it a long list of questions. What are the neighbors like? Are there kids in the area? It is safe? What are the best places to shop?

Once you’ve made the decision to relocate, these questions and more are bound to arise. Many questions can be answered by your Realtor or your contractor, but information on others may be less forthcoming. As realtors are bound by an oath that upholds fair housing and non-discriminatory practices, there are certain questions they just cannot answer. So, issues like churches in the area or the demographics of your neighbors are simply off-limits.

The Fair Housing Act: why your Realtor can’t always tell you what you want to know

What a Realtor can and cannot disclose is dictated…

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Top 10 Predictions for Real Estate in 2018

Top Predictions for the Real Estate Market in 2018

Compass goes public, economy soars, Congress pivots on homeownership tax benefits and more

As we approach the end of yet another year, one of the biggest questions on most everyone's minds, especially those of us in the real estate industry, is "what is going to happen next year?"  Brad Inman of Inman.com recently reviewed his past predictions about the real estate market, some of which came true and some not. Two years ago as we approached the year 2016, Brad Inman predicted that Donald Trump would be elected President of the United States.  That obviously came true.  Last year, Inman predicted that Zillow would expand overseas in 2017 and NAR would choose a woman CEO; didn't happen. 

Inman…

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Major Renovations to Come at Woodfield Country Club

Woodfield Country Club, one of the area’s premier residential communities with world-class resort amenities, has announced a $23.75 million renovation plan that will begin in 2015 and continue for approximately two-three years. The renovation plan includes new and expanded card rooms, an interior design refresh in the main clubhouse and dining areas, along with an overhaul of the fitness, aquatics, poolside dining and child care areas. A major addition is a new building and play area for use by younger members of the country club including teens and children.

Architectural plans and timetables will be finalized this year with construction to begin in early 2015.

“We have been successful in bringing an attractive and affordable plan to the…

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