Written by: Faces of Miami Real Estate

Cristina Formosa


Total Years in the industry: 18

Current company: COMPASS

Top reason to work with a Realtor:

Your home sale or purchase is typically your most valuable asset. Trusting an expert Realtor who has focused their career on perfecting all the nuances of selling or purchasing a home is an easy decision.

What market is still hot right now?

The areas of Miami that I specialize in are vibrant and booming with new neighbors from out of state and locals shaking it up. The hot cities of Miami include Palmetto Bay, Pinecrest, the Falls and Baptist Hospital area, Coral Gables and Coconut Grove.

What is South Florida’s best-kept secret?

Palmetto Bay, although people are catching on and discovering its allure.

What are your market predictions for 2023?

I think we might see an uptick in inventory, bringing supply and demand to a slightly more even playing field. However, I still expect to see appreciation and well-priced properties selling fast. Interpreting the market and where it’s headed is part of my essential daily routine.

Biggest challenge for buyers:

Insurance! Windstorm insurance has become a complex process for a buyer to obtain. So many insurance companies have folded or left Florida altogether. Citizens is often the only option, and they are getting more and more stringent on their requirements. Buyers need to be doing their four-point and windstorm mitigation insurance inspections during their due diligence period so they can get an accurate quote. Oftentimes, they need to ask the seller to make certain repairs prior to closing in order to obtain insurance.

What makes you excited to go to work?

All the interesting people I get to work with! Every day, I get to interact and meet with new people and get to know their wants and needs at an important time in their lives. It’s fascinating!

Biggest challenge for sellers:

The biggest challenge for sellers right now is making sure to stay ahead of market conditions and not focus on traditional last six months of market history. Today’s market is shifting daily. Sellers need to focus on a maximum of last three months of sales and on potential trends an experienced Realtor can analyze for them.

What should you do before you list your home?

Contact an experienced Realtor. They will walk you through all the steps to position your home in the best light to get top dollar in the shortest amount of time. Prior to listing, everything from decluttering and staging to completing repairs and mapping out your next move merely scratch the surface of tasks you will oversee. An experienced Realtor can navigate this with your best interests top of mind.

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Tags: , , , Last modified: February 6, 2023
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