David Flores Realtor

If you're concerned about the possibility of home prices dropping, rest assured that many experts project they’ll actually rise at a normal pace in 2024. Whether you're gearing up to buy or sell in the new year, I'm here to chat about the latest forecasts, and help you plan for your next move.

Step outside your comfort zone and find the joy of the unknown.

Lo peor de la caída de los precios de las casas ha quedado atrás
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Hace apenas cinco meses, los precios estaban disminuyendo sobre una base mensual ajustada estacionalmente en el 92 % de todos los mercados principales de Estados Unidos. Avanzando rápidamente a marzo, y la situación ha girado un 180 literal, con los precios ahora aumentando en el 92 % de los mercados desde febrero.
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Si quieres saber mas del mercado inmobiliario envíame un mensaje.
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Todavía estamos en un mercado de los vendedores. Y si está buscando comprar una casa, eso significa que es probable que enfrente algunos desafíos, como la dificultad para encontrar una casa y las tasas hipotecarias volátiles. Pero tenga en cuenta que, hay algunos beneficios de ser un comprador en el mercado actual que le dan una buena razón para seguir con su búsqueda. Aquí hay algunos de ellos.
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Los beneficios a largo plazo superan los desafíos a corto plazo
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Las tasas hipotecarias cambian constantemente
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Los precios de las casas aumentarán
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El aumento de los precios de las casas en los próximos años significa dos cosas para usted como comprador:

Esperar para comprar una casa podría significar que será más costoso hacerlo.
Comprar ahora significa que el valor de su casa, y su patrimonio neto, probablemente aumentara con el tiempo.
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Contáctame para recibir mas información

Stunning and Spacious 2/2 Condo, located in the heart of Brickell/Downtown Miami area. Under Contract.
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If you are planning to move in the next upcoming months let’s connect.
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DM me
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Lovely Townhouse in Pembroke Pines… Under Contract!
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There are great opportunities in the market that you could benefit of to become a homeowner.
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Dm for more detail
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After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. If you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.

The recent uptick in rates has been driven by what’s happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains:

“Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time.”

>>Advice for Home Shoppers

If you’re thinking about pausing your home search because rates have started to go up again, you may want to reconsider. This could actually be an opportunity to buy the home you’ve been searching for. According to the MBA, mortgage applications declined by 13.3% in just one week, so it appears the rise in mortgage rates is leading some potential homebuyers to pull back on their search for a new home.
So, what does that mean for you? If you stay the course, you’ll likely face less competition among other buyers when you’re looking for a home. This is welcome relief in a market that has so few homes for sale.

Over the last few weeks, mortgage rates have risen. But that doesn’t mean you should delay your plans to buy a home. In fact, it could mean the opposite if you want to take advantage of less buyer competition. DM me to explore the options in our market.

No matter how the housing market changes, there are some things about owning a home that never change—like the personal benefits it can provide. When you own your home, you likely feel a sense of attachment because of the comfort it gives and also because it’s a space that’s truly yours.

Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them. As a result, the emotional benefits our homes provide have become even more important to us.

As the most recent State of the American Homeowner from Unison puts it:

“. . . one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.”

Happy Valentines Day 💝
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Many people believe you need to put down 20% of the purchase price when you buy a home. But recent homebuyers actually put down far less on their purchase. And with programs like FHA loans, VA loans, and USDA loans, some qualified buyers are able to put down as little as 0-3.5%. DM me to make sure you have a trusted lender and can find out if you’re ready to buy a home sooner rather than later.

HOT LISTING 🔥
Don’t miss out this opportunity to own this stunning and spacious 2/2 Condo. This bright property is located in the heart of Brickell/Downtown Miami Area. Wake up to a breathtaking view from the 43rd floor while you enjoy reading your favorite book or listening to your preferred song! Beautiful tile floors, floor to ceiling glass throughout. Island kitchen/bar/breakfast area. Window treatments in excellent condition. HOA includes water, Internet, w/endless amenities: Clubhouse-Clubroom, Exercise Room, Exterior Lighting, and Pool. The Ivy condo is conveniently located close to City Centre and all the best entertainment in the area. A hop to 1-95 away from traffic. Close distance to Performing Arts, Museums. Schedule a showing now!
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🛌 2 Bed
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If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year.
The three measures used to establish home affordability are home prices, mortgage rates, and wages. Here’s a closer look at each one.

>>1. Mortgage Rates

Mortgage rates shot up to over 7% last year, causing many buyers to put their plans on hold. But things are looking different today as rates are starting to come down. Even a small change in rates can impact your purchasing power.

If 7% rates paused your homebuying plans last year, this could be the opportunity you need to get back in the game.

>>2. Home Prices

The second factor at play is home prices. Home prices have made headlines over the past few years because they skyrocketed during the pandemic. So, while prices will likely be flat this year in some markets, others could see small gains or slight declines. It all depends on your local area.

>>3. Wages

The final component in the affordability equation is wages. Because wages have been rising, many buyers have renewed opportunity in the market.

While affordability hurdles are not completely going away this year, based on current trends and projections, 2023 should bring some sense of relief to homebuyers who have faced growing challenges.

If you have questions, DM me to explore your options. You may be closer to owning a home than you think.

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?

This year, experts agree we may see the return of greater stability and predictability in the housing market if inflation continues to ease and mortgage rates stabilize. Here’s what they have to say.

The 2023 forecast from the National Association of Realtors (NAR) says:

“While 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, . . . mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, . . .”

Danielle Hale, Chief Economist at realtor.com, adds:

“. . .buyers will not face the extreme competition that was commonplace over the past few years.”

Lawrence Yun, Chief Economist at NAR, explains home prices will vary by local area, but will net neutral nationwide as the market continues to adjust:

“After a big boom over the past two years, there will essentially be no change nationally . . . Half of the country may experience small price gains, while the other half may see slight price declines.”

Mark Fleming, Chief Economist at First American, says:

“The housing market, once adjusted to the new normal of higher mortgage rates, will benefit from continued strong demographic-driven demand relative to an overall, long-run shortage of supply.”

If you’re looking to buy or sell a home this year, DM me today.

If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don't let a common misconception about how much you need to save make the process harder than it could be.

>>Understand 20% Isn’t Always the Typical Down Payment

Unless specified by your loan type or lender, it’s typically not required to put 20% down. This means you could be closer to your homebuying dream than you realize. According to the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. In fact, the median down payment today is only 14%. And it’s even lower for first-time homebuyers at just 6% (see graph below):
>>Learn About Options That Can Help You Toward Your Goal

If saving for a down payment still feels like a challenge, know that there’s help available. A real estate professional and trusted lender can show you options that could help you get closer to your down payment goal.

Plus there are even loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants.

To understand your options, be sure to do your homework. If you’re interested in learning more about down payment assistance programs, information is available through sites like Down Payment Resource. Then, partner with a trusted lender to learn what you qualify for on your homebuying journey.
Remember, a 20% down payment isn’t always required. If you want to purchase a home this year, DM me to start the conversation and explore your down payment options.

: firsttimehomebuyer

Gorgeous Key Biscayne Condo 2/2 split plan, tile throughout, kitchen with stainless steel appliances and granite countertop, washer/dryer inside the unit, nice garden view. Rare opportunity to have 2 ASSIGNED COVERED PARKING SPACES! Enjoy EmeraldBay's full-service building with front-desk concierge, pool and whirlpool bath, a state-of-the-art gym, and more. Key Colony offers great amenities such as oceanfront pool w/ outdoor dining, direct beach access, beauty salon, convenient market/deli place, 12 tennis courts, lap pool, children’s playground, dog park, and more.
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Spacious 2/2 split plan, tile throughout, kitchen with stainless steel appliances and granite countertop, washer/dryer inside the unit, nice garden view. Rare opportunity to have 2 ASSIGNED COVERED PARKING SPACES! Enjoy EmeraldBay's full-service building with front-desk concierge, pool and whirlpool bath, a state-of-the-art gym, and more. Key Colony offers great amenities such as oceanfront pool w/ outdoor dining, direct beach access, beauty salon, convenient market/deli place, 12 tennis courts, lap pool, children’s playground, dog park, and more.
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While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close.

>>Don’t Deposit Large Sums of Cash
Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

>>Don’t Make Any Large Purchases
It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. Resist the temptation to make any large purchases.

>>Don’t Cosign Loans for Anyone
When you cosign for a loan, you’re making yourself accountable for that loan’s success and repayment. With that obligation comes higher debt-to-income ratios as well.

>>Don’t Switch Bank Accounts
Lenders need to source and track your assets. Before you transfer any money, speak with your loan officer.

>>Don’t Apply for New Credit
It doesn’t matter whether it’s a new credit card or a new car, when you have your credit report run by organizations in multiple financial channels, it will have an impact on your FICO score.

>>Don’t Close Any Accounts
Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. Closing accounts has a negative impact on both of those aspects of your score.

>>Do Discuss Changes with Your Lender
Be upfront about any changes that occur or you’re expecting to occur when talking with your lender. Blips in income, assets or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. If you have questions, DM me.

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home.

>>Build Your Credit

Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run.

>>Automate Your Savings for Your House Fund

Bankrate provides buyers with a number of tips to help you save, including searching for down payment assistance programs and ways you can save more, faster. As the article says:

“One of the best ways to save for anything — including a down payment — is to set it and forget it. If you receive a regular paycheck, ask your employer to direct a portion of that payment into a savings account. If you’re a freelance worker or independent contractor, set up a recurring transfer from a checking account to a savings account to establish the routine.”

>>Get Pre-Approved

Pre-approval from a lender lets you know how much money you can borrow for your home loan. This can help you really understand your options so you can start to picture your future home.

>>Build a Team of Professionals

Finally, the best way to make you’re prepared for your purchase is to connect with trusted real estate professionals. Having expert advisors in the industry will help you make strong decisions throughout the homebuying process based on your specific goals, finances, and situation.

DM me today to get started.

Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy.

Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well by saying:

“Mortgage rates dropped even further this week as two main factors affecting today's mortgage market became more favorable. Inflation continued to ease while the Federal Reserve switched to a smaller interest rate hike. As a result, according to Freddie Mac, the 30-year fixed mortgage rate fell to 6.31% from 6.33% the previous week.”

So, what does that mean for your homeownership plans? As mortgage rates fluctuate, they impact your purchasing power by influencing the cost of buying a home. Even a small dip can help boost your purchasing power. That’s why it’s important to work with a trusted real estate professional who follows what the experts are projecting for mortgage rates for the days, months, and year ahead.

Mortgage rates are likely to fluctuate depending on what happens with inflation moving forward, but they have dropped slightly in recent weeks. If a 7% rate was too high for you, it may be time to contact a lender to see if the current rate is more in line with your goal for a monthly housing expense.

If you want to live as high as helicopters, this would be your dream apartment. Completely renovated, 3 beds and 2.5 bath. Corner unit in the hip and luxurious Icon Brickell. The line 01 in Tower 1, offers the largest and most desirable layout with gorgeous water views, Italian cabinets, closets, doors and wood walls. Located in the heart of Brickell, close to the parks, restaurants, shopping centers and more. Best Amenities inside the Building.
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Don’t miss out this opportunity to own this stunning and spacious 2/2 Condo. This bright property is located in the heart of Brickell/Downtown Miami Area. Wake up to a breathtaking view from the 43rd floor while you enjoy reading your favorite book or listening to your preferred song! Beautiful tile floors, floor to ceiling glass throughout. Island kitchen/bar/breakfast area. Window treatments in excellent condition. HOA includes water, Internet, w/endless amenities: Clubhouse-Clubroom, Exercise Room, Exterior Lighting, and Pool. The Ivy condo is conveniently located close to City Centre and all the best entertainment in the area. A hop to 1-95 away from traffic. Close distance to Performing Arts, Museums. Schedule a showing now!

If you’re planning to make a move but aren’t sure if now’s the right time, here are a few reasons why you shouldn’t wait to sell your house. The supply of homes for sale, while growing, is still low today. Plus, serious buyers are out looking right now, and many are hoping to avoid falling into the rental trap for another year. DM me to determine if selling your house before the new year is the right move for you.

With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. One of the reasons this isn’t like the last time is the number of foreclosures in the market is much lower now. Here’s a look at why there won’t be a wave of foreclosures flooding the market.

>>Not as Many Homeowners Are in Trouble This Time

After the last housing crash, over nine million households lost their homes due to a foreclosure, short sale, or because they gave it back to the bank. This was, in large part, because of more relaxed lending standards where people could take out mortgages they ultimately couldn’t afford.

Today, revised lending standards have led to more qualified buyers. As a result, there are fewer homeowners who are behind on their mortgages.

>>There Have Been Fewer Foreclosures over the Last Two Years

During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The program gave homeowners facing difficulties extra time to get their finances in order and, in many cases, work out a plan with their lender.

And most importantly, the number of foreclosures we’re seeing now is still far below the number we saw during the market crash.

>>Most Homeowners Have More Than Enough Equity To Sell Their Homes

Due to rapidly rising home prices over the last two years, the average homeowner has gained record amounts of equity in their home. And if they’ve stayed in their homes even longer, they may have even more equity than they realize.

If you have questions, DM me today.

Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. Here are five great reasons you shouldn’t wait to sell your house.

1. While the supply of homes for sale has increased this year, there still aren’t enough homes on the market to keep up with buyer demand.

2. Serious homebuyers are out looking right now. Millennials are driving homebuying demand today, and many are eager to make a purchase.

3. The desire to own a home doesn’t stop during the holidays. In fact, homes decorated for the holidays appeal to many buyers. Plus, purchasers who look for homes during the holidays are ready to buy.

4. You can restrict the showings in your house to days and times that are most convenient for you. That can help you minimize disruptions, which is especially important this time of year.

5. Rents have skyrocketed in recent years. And, many buyers are looking to escape rising rents and avoid falling into the rental trap for another year.

Your home could be their ticket to leaving renting behind for good.

There are still many reasons it makes sense to list your house during the holiday season. DM me to determine if selling now is your best move.