Carolina Suarez

Miami-Dade Real Estate Builds Generational Wealth

|

Bonjour! 🇫🇷 Greetings from Paris 👋🏼 Even when I’m on vacation, I’m still researching properties for my clients and making sure my current deals are flowing smoothly. 😎

Move to the best neighborhood in Miami— BRICKELL ✨ If you’re looking for a new walkable trendy neighborhood, then Brickell is for you. ✔️ If you’d like an incredible unobstructed bay view, then I suggest Edgewater. Work with a Miami native who can help you find an amazing deal 🫱🏻‍🫲🏽 Whether it’s a primary residence or an investment property, I will get you to the closing table.

Carolina Suarez ⁣⁣⁣Rivas ⁣⁣
☎️ 305-431-9485⁣⁣⁣⁣⁣
📬 [email protected]⁣⁣⁣⁣⁣

⁣

You had me at Aloha 🌺✨

You had me at Aloha 🌺✨

Here is a list of the top countries searching for real estate in Miami. Miami is sought out globally making it more competitive amongst buyers. South Florida remains a bargain in comparison to other global cities. Colombia regains spot as top country searching Miami real estate; Texas is the top State and D.C. is the top U.S. City as per the MIAMI Association of REALTORS®

Colombia recored the most global web searches for Miami properties in November 2022, according to a new report by the MIAMI Association of REALTORS®. Colombia has now topped the list of foreign countries searching Miami real estate in eight of the last nine months. (Oct 2022 was Germany)

China made the largest month-over-month jump in the top-10, moving from No. 14 in October 2022 to No. 2 in November 2022. First-time users from China on MiamiRealtors.com comprised 20.2% of its search share in November 2022.
 
“Miami is different from other markets in that our global buyers come from a diversified list of countries,” MIAMI Chairman of the Board Fernando Arencibia Jr.

Argentina purchased the most South Florida real estate among foreign countries in 2021, according to the 2021 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Argentina buyers purchased 13% of all international purchases in South Florida. Colombia (12%) and Venezuela (10%) finished second and third, respectively. Access the report: https://bit.ly/22MIAMIGlobalStudy. I cant wait to see the upcoming stats for 2022, stay tuned!

Carolina Suarez Rivas
☎️ 305-431-9485
📩 [email protected]
www.CarolinaMiami.com

⁣

BIG News! 🔈Mortgage giants Fannie Mae and Freddie Mac have increased the conforming loan limit amount to $726,200 for 2023. 👏🏻 It has increased $79,000 from this year’s limit of $647,200. 📈 This increase is welcome news for homebuyers, especially those in expensive areas who have been pushed into pricier jumbo mortgages, even for a modest home in Miami. 🏡

The conforming loan limit is the maximum amount that can be guaranteed by Fannie Mae and Freddie Mac. Conforming loans require smaller down payments and allow for lower credit scores. 🙌🏻 Mortgages above these loan limits are considered “non-conforming” or “jumbo” mortgages, they typically come with higher interest rates and are harder to qualify for.

Contact me to discuss your home buying options 📞

Carolina Suarez ⁣⁣⁣Rivas ⁣⁣
☎️ 305-431-9485⁣⁣⁣⁣⁣
📬 [email protected]⁣⁣⁣⁣⁣

⁣

Todays higher rates are simply the cost doing business in a less competitive real estate market. 💡

There is a new 2-1 Buydown program that will temporarily lower your rate for the first two years of your mortgage.🔥 If the rates drop by the second year, you have the option to refinance into that lower rate. If the rates go up, then you’ll be glad that you locked in your property in 2022. 👏🏻 Dont wait any longer to start building equity. Ask me to learn more about the 2-1 Buydown Program!

In reality, rates are below the historical average. Did you know the average rate for a 30 year mortgage is 7.76% ? (Swipe to see the chart) 📊➡️

Now is the right time to buy, there is less competition and sellers are more willing to negotiate. We are back in the times where we can ask for sellers to give concessions towards closing costs. 👌🏻

Due to rising interest rates, many locals and foreign buyers are purchasing their condos with cold hard cash. Where is this cash coming from? 💸💸 Several of my clients are bringing money from other countries and other states.

Many have predicted the higher interest rates will slow down the buyers and make it less of a sellers market. Whether we like it or not, new money is coming to Miami. As a buyers agent, I know how to make your financed offer more competitive than a cash one.💡Contrary to popular belief, a cash offer is not always the best offer. Let’s discuss your options!

Carolina Suarez ⁣⁣⁣Rivas ⁣⁣
☎️ 305-431-9485⁣⁣⁣⁣⁣
📬 [email protected]⁣⁣⁣⁣⁣

Hola 👋🏻

I had the opportunity to sell the very first condo I lived in when I moved out of my parents house. This 2 bed / 2 bath condo located in the Roads, is just 2 min away from Brickell. I loved this condo so much because it had a skyline view of Brickell with an amazing wrap around balcony! 8 years later I found a buyer for this very same unit! I know he will enjoy it as much as I did. 🥰

▫️280 SW 20th Road #506
▫️Sold for $380,000
▫️2 bed / bath 🛁
▫️1,022 sq ft | HOA - $403

Carolina Suarez ⁣⁣⁣Rivas ⁣⁣
☎️ 305-431-9485⁣⁣⁣⁣⁣
📬 [email protected]⁣⁣⁣⁣⁣

⁣

Two Roads Development has submitted plans for a new project in Edgewater that will include three towers, according to The Real Deal.

The developer is buying out the Biscayne 21 condo building in Edgewater for the new project. A bulk unit closing is expected in the next 30 days which will give Two Roads majority control there.

Each of the three new towers is expected to rise 650 feet, which is the maximum permitted by the FAA in the area.

A total of 680 to 750 condo units are planned in the combined development.

The developer also said the project will be a “very high-end luxury product.” The units may be branded, with talks now underway with a brand.

Two Roads previously developed the 51-story Biscayne Beach (completed 2017) and the 57-story Elysee (completed 2021) in Edgewater. The second photo is the building they will be demolishing.

⁣

Happy Easter 🐣💛

Miami is a melting pot of rich cultures from all around the world, especially Latin America. Just like its neighborhoods, Miami does not offer cookie cutter neighbors. This is why Miami feels like such an international destination and attracts millions of people every year. Move to Miami where its boat season all year round!

End users are motivated by fast-rising rents in South Florida and the anticipated increase in mortgage rates. Interest rates are historically low and it is crucial to lock in a low rate as soon as possible. Consumers that are on strong financial footing are signing contracts to purchase a home or condo sooner rather than later.

Demand remains high against a very limited number of homes for sale. A high velocity of sales, as indicated by lower days on market, explains a housing market characterized by higher sales and lower inventory. Contact me to discuss your options.

⁣

The travel ban has been lifted in 33 countries, we are expecting a ton of foreign buyers to come back and buy the limited inventory we have available in Miami. Several companies are making the move to South Florida, leading to increased demand. If you are looking to buy a property, the time is now! Make your move before prices increase 💡

Proposals are being reviewed for 710 Edge, a 55-story ultra-luxury mixed-use building planned for 710 Northeast 29th Street right on Biscayne Bay in Edgewater, Miami. It is located right next to Biscayne Beach Condominium which was built in 2017.

The tower is being developed by an entity named 710 Edge LLC, sharing a strong resemblance to the Zaha Hadid-designed 707-foot-tall One Thousand Museum on Biscayne Boulevard. Plans call for 460,160 square feet of new construction between the tower and an attached garage, which includes 70 residential units, 13,037 square feet of commercial space and 160 parking spaces. The development site is located at the eastern end of Northeast 29th Street

https://floridayimby.com/2021/10/710-edge-proposed-as-a-649-foot-tall-ultra-luxury-mixed-use-tower-on-the-edgewater-bayfront.html

⁣

Just closed for $815,000 with a 10% down payment. Got a credit for $16k for my buyer, what a great closing! Contact me to find your new home 🏡

When the dream team gets together 👏🏻 Stay tuned for something awesome!

If you want to have a seamless transaction you need to work with the best! 🏆
🔸Title Company
🔸Lender
🔸Inspection
🔸Homeowners Insurance

Check out my new 2 bed / 2 bath listing at the IVY in Brickell for $440,000 🔥 Panoramic views from this completely remodeled unit featuring spectacular finishes! This is the sought-after floor plan offering a large DEN ideal for multiple uses with a split bedroom layout. ✔️ Floor to ceiling glass from living areas and on both bedrooms with full access to a spacious balcony. Kitchen features brand new appliances, marble countertops and a wine cooler. Bathrooms have been upgraded with floating vanities & LED mirrors. This condo has a brand new full sized washer & dryer, electric blinds, custom closets and great storage throughout.

Amenities: Bistro market, dry cleaners, hairdresser, 2 children’s playgrounds, BBQ area, dog park, spa, whirlpool bath, 2 pools, cardio room and weight room, special event room, business center, game room. Unit is owner occupied.

Carolina Suarez ⁣⁣⁣Rivas ⁣⁣
☎️ 305-431-9485⁣⁣⁣⁣⁣
📬 [email protected]⁣⁣⁣⁣⁣

⁣

We aren't in a housing bubble 🏡 The spike in home prices since the onset of the pandemic is not an indication of a bubble because the demand is coming from well-funded buyers who are competing for very few homes. ✅ If you’re a buyer using financing, put less money towards the down payment and use those funds to put on top of the appraised value. 💡✔️This will make your offer stand out in this competitive market! Call me to discus your options.

I have built a dream team that will streamline your entire transaction 🙌🏼

▪️Lenders: for houses for condos
▪️Title company
▪️Inspector

⁣

We aren't in a housing bubble 🏡 The spike in home prices since the onset of the pandemic is not an indication of a bubble because the demand is coming from well-funded buyers who are competing for very few homes. ✅ If you’re a buyer using financing, put less money towards the down payment and use those funds to put on top of the appraised value. 💡✔️This will make your offer stand out in this competitive market! Call me to discus your options.

I have built a dream team that will streamline your entire transaction 🙌🏼

▪️Lenders: for houses for condos
▪️Title company
▪️Inspector

⁣

Manifestation is real. Start speaking positivity into your life. Change the way you think and change the way you speak ✨

Thinking about purchasing a new construction home?? Higher lumber prices have led to rising costs of building new construction homes.

https://www.cnn.com/2021/05/05/business/lumber-prices-home-building-costs/index.html

New homes cost $36,000 more because of an epic shortage of lumber As the pandemic crushed the US economy last spring, sawmills shut down lumber production to brace for a housing slump. The slump never arrived and now there isn't enough lumber to feed the red-hot housing market.

This is a very informative post about WHY there is such little inventory available in the housing market. In previous decades 70's 80's and 90's -- there were 26 million homes every decade. From 2010-2020 there were only 6 million new construction homes. There's a 20 million deficiency on homes. This is a huge contributor as to why the inventory levels are so low.

https://www.cnbc.com/video/2021/05/04/how-bidens-plan-to-tax-real-estate-investors-could-affect-the-industry.html

How Biden's plan to tax real estate investors could affect the industry Spencer Rascoff, Pacaso co-founder and former Zillow Group CEO, joins 'Squawk on the Street' to discuss Biden’s proposed tax hike on real estate investors and what it could mean for the real estate industry.