How to Find Homes for Sale Near You in Miami and Fort Lauderdale”

Introduction

Searching for your dream home in Miami and Fort Lauderdale can feel overwhelming, especially with the wide variety of properties on the market. Whether you’re new to home buying or looking for an upgrade, knowing where to look and how to navigate the process can save you time and effort. Here’s a guide to help you find homes for sale near you in these vibrant South Florida cities.

1. Start with a Reliable Property Search Tool

Using a property search tool that allows you to filter by location, price, and home type is a huge advantage. Many real estate websites offer interactive tools where you can filter for “homes for sale by owner”, condos, or new construction. Look for search tools that let you narrow down options based on your budget and preferred neighborhood.

2. Work with a Local Real Estate Agent

A knowledgeable real estate agent who specializes in Miami and Fort Lauderdale can provide insights that you might not find online. Agents often have access to new property listings before they’re widely advertised, giving you a head start on properties in hot demand.

3. Check Online Listings Regularly

Popular real estate websites like Zillow, Realtor.com, and Trulia frequently update their listings, allowing you to stay on top of new properties hitting the market. Use search phrases like “homes for sale near me” or “houses for sale in Miami and Fort Lauderdale” to find listings relevant to your location.

4. Visit Open Houses

Attending open houses in the area is a great way to get a feel for the local market. Open houses let you see properties up close, ask questions, and get a better understanding of what you want in a home. Real estate agents hosting these events can also share insights about similar properties for sale.

5. Use Social Media and Local Listings

Social media platforms like Facebook Marketplace and local groups often have home listings posted by owners or agents. These listings may offer homes not yet on larger platforms, giving you an exclusive look at potential properties.

6. Explore Neighborhood-Specific Sites

For buyers interested in specific areas, neighborhood-centric websites can offer unique listings. In Fort Lauderdale, for instance, sites focused on waterfront properties may have specialized listings for waterfront homes and other high-demand areas.

Conclusion

Finding homes for sale near you in Miami and Fort Lauderdale can be a smooth process when you know where to look. Start with a property search tool, work with local agents, and use both online and social platforms to find the best options. With these resources, you’ll be well on your way to finding your perfect home in South Florida.

Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt.

That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains:

“With the recent house price increases, some people are worried about a new housing bubble – but mortgage debt isn’t a concern . . .”

Today’s homeowners are in a much stronger position than ever before. So, let’s break it down and see why today’s mortgage debt isn’t anything to fear.

More Equity, Less Risk of Foreclosures

According to the St. Louis Fed, total homeowner equity is nearly triple the total mortgage debt today (see graph below):

High equity makes it less likely for homeowners to face foreclosure because they have more options. If someone struggles to make their mortgage payments, they could potentially sell their house and still come out ahead thanks to their built-up equity.

Even if home values were to dip, most homeowners would still have a comfortable cushion of equity. That’s a big contrast to the 2008 crisis, where many homeowners were underwater on their mortgages and had few options to avoid foreclosure.

Delinquency Rates Are Still Near Historic Lows

Another reassuring sign is that, according to the NY Fed, the number of mortgage payments that are more than 90 days late is still near historic lows (see graph below):

This is partly due to a variety of programs designed to help homeowners through temporary hardships. As Marina Walsh, VP of Industry Analysis at the Mortgage Bankers Association (MBA), says:

“. . . servicers are helping at-risk homeowners avoid foreclosures through loan workout options that can mitigate temporary distress.”

So, even if someone falls behind on their payments, there are support systems in place to help them avoid foreclosure.

Low Unemployment Helps Keep the Market Stable

One other important factor is today’s low unemployment rate. More people have stable jobs, which means they’re better able to afford their mortgage payments. As Archana Pradhan, Principal Economist at CoreLogic, explains:

“Low unemployment numbers have helped reduce the overall delinquency rate . . .”

During the last housing crisis, unemployment was much higher, which led to a wave of foreclosures. Today’s unemployment rate is very different (see graph below):

That stability in how many people are employed is one of the reasons the market doesn’t have the same risks as it did the last time.

There’s no need to worry about a wave of distressed sales like the one we saw in 2008. Most homeowners today are employed and have low-interest mortgages they can afford, so they’re able to make their payments. As McBride states:

“The bottom line is there will not be a huge wave of distressed sales as happened following the housing bubble.” 

Bottom Line

While mortgage debt is high, rest assured the market isn’t on the brink of another crash. Instead, most homeowners are in a strong position. If you have questions or concerns, let’s connect.