Written by: Realtor Spotlight

Ana Teresa Rodriguez: Living in Luxury

South Florida suffers no shortage of real estate agents, but finding the right one is key to achieving short-term and long-term ownership goals. With current market conditions including record-low inventory, a competitive seller’s market and historically high prices, choosing and fighting for the right property is particularly challenging. To better understand these distinct nuances, we spoke to Ana Teresa Rodriguez, one of Miami’s top luxury real estate advisors.

Rodriguez and her team at ATR Luxury Homes take a refreshing approach to business by striving to become each client’s lifelong real estate advisors. With 23 years of experience in marketing and advertising as Cosmo Florida’s editor-in-chief and 12 years’ experience as a real estate agent in the Coral Gables area, few professionals understand the local fabric like she does. In that time, she’s worked with families looking for starter properties, affluent clients searching for multi-million-dollar waterfront homes, and a host of other clients with a variety of needs.

Her work has earned her membership into Coldwell Banker’s prestigious International President’s Circle — reserved for the top 5% of sales associates worldwide — and recognition as one of the Top 100 Realtors at Coldwell Banker Florida since 2013. She was also named the Best Real Estate Agent of 2018 by the Builders Association of South Florida.

Rodriguez took a moment to share her informed outlook and provide some advice for those planning to buy or sell property in South Florida this year.

Give us a glimpse of the current luxury real estate market.

Because there is historically low luxury property inventory, this is an opportunity for sellers to secure a higher price during the sale of their home or investment property. However, it’s important to understand that low inventory comes from the lack of interest and fear sellers have of presenting their homes during a health pandemic.

As the market returns to normal conditions, and sellers start listing their homes again, there will be more competition between sellers, and the property prices will adjust accordingly.

It sounds like there are significant benefits for sellers. Are there any positives for buyers?

If you’re planning to buy a home in this market, it’s important to know there are still good opportunities available. This is especially true within the condo market. Consider whether condo living is right for your lifestyle and take advantage of the great prices [now].

What’s your advice for buyers feeling overwhelmed by the competition?

My advice is simple: Now is not the time for unnecessary negotiation. Instead, it would be best to prepare a solid offer for any home you want to purchase that keeps you competitive. Right now, we have five buyers for each listing. It’s the buyer with the best terms that will win the home.

Remember that your goal is to buy a home, not just make offers. Consider the future potential of properties you place offers on and ask your Realtor to check for similar [comparable sales] on your top choices. This will provide you with a price range to stay within and [help you] decide on the maximum price you want to pay.

What’s the most important thing to consider during the buying or selling process?

For buyers, two factors are equally important — especially in the present market. As a buyer, you must focus on location and property condition. First, remember that you can renovate a house, but you can’t change location. Second, consider what you need to invest in making a home your own. Finally, compare it with the one listed for more before deciding which option is best for you.

If you qualify for a higher loan amount, go for the property with less work at a higher value. If you do not qualify for the higher amount, but your home has the location and the potential, it is better to buy in the best location, as the property will age, but the location won’t.

For sellers, prepare your home as if you were going to buy it. Consider your demands in your future home and remember that property buyers will have the same expectations for your home. My best recommendation is to prepare your home before listing it by becoming your own house flipper. It may seem like a lot of work to receive a professional inspection and repair any issues with your property, but it will earn you a better return.

ATR Luxury Homes is located at 4000 Ponce de Leon Blvd., Ste. 700, in Coral Gables. Call Ana Teresa Rodriguez and her team at 786.442.5309 or visit atrluxuryhomes.com for more information.

(Visited 34 times, 1 visits today)
Tags: , , , , , , Last modified: April 12, 2021