The panelists were hosted by Haute Living's Erik Haase for the dialogue. They were:

Alvaro Nuñez Alfaro, Cofounder of Super Luxury Group, a leader in Miami and surrounding areas as well as globally with high net worth clientele

Joel Schemmel, Founder of the Schemmel Group, a top producing team with Sotheby's in Sarasota, top 1% overall in Sarasota

Connie Huergo, a top agent at Coldwell Banker in Delray Beach and Boca Raton, over 20 years of experience in South Florida luxury real estate

Pierre-Marc Bellion, Ocean Sotheby's International Realty, a leading agent in Key Largo and Islamorada areas of the Florida Keys

Highlight quotes from today's webinar:

Alvaro Nuñez Alfaro: "Everybody has been working very hard through this year to put all the tools in place to continue working in this business... People feel the trust and confidence of working with experts... Right now, everyone is finding a bigger purpose. Real estate is about enhancing people's lives... When it comes to what platforms we use, right now is the time to try out anything related to digital... Put your face out there. Beautiful videos [of properties] are nice, but people will relate to you. Build your personal brand.

Joel Schemmel: "We are seeing even more demand. Inventory challenges are going to slow us down to a certain extent... In Sarasota, we are comparatively undervalued to other markets in Florida. People are discovering that. They are coming from New York, California, Naples, and other Florida places... During the third quarter of this year, the pending sales compared to the same period last year were up 400% in the $2-4 million range... The market is very engaged. Things move quickly. Focus and understand the market, the value your buyers and sellers are trying to achieve...

Connie Huergo: "Interest rates are extremely low. That has really made an incentive for people that were on the fence. They have decided to make an early retirement. Our city of Delray is full of restaurants, beaches, and a lot of places to go...  We have had to be very creative and I love that, getting out of the traditional and do FaceTime presentations, 3-D... Delray Beach attracts the northeastern [audience]. When they see the prices here, it's an easy decision to make... We have to make sure to work with the right tools and surround ourselves with the proper people that can help us close in time."

Pierre-Marc Bellion: "People are moving out of the city. It's not just about getting out of the urban cities; it's about getting a new perspective... A year ago, a Zoom meeting was an exotic thing. It took us five weeks to get used to it and now it's how we do business... We sell the lifestyle, but you do better when you can share with people and they can tell that you are connected to your environment... On the personal and business level, with the pandemic, it's good to regroup and dig your roots deeper into the community. Go back to talking to people around you to get new listings."

To watch previous webinars by Haute Residence featuring top real estate agents, developers, brokers, and interior designers, visit dev.hauteresidence.com.

Alvaro Nuñez Alfaro, Joel Schemmel, Connie Huergo, Pierre-Marc Bellion

The post Watch: “Top Agents Of Florida Real Estate” On Latest In The Sunshine State Luxury Market appeared first on Haute Residence by Haute Living.

The Silver Lining of Higher Interest Rates 

For experts in Los Angeles luxury real estate, the higher interest rates are bittersweet. At the end of 2017’s second quarter, the Fed announced that interest would be raised from 1% to 1.25%.

Even though higher interest rates are indicative of a burgeoning economy, the higher rates mean that obtaining a loan will be more difficult and expensive. Increased difficulty in securing a loan means that fewer buyers will be able to purchase homes, thus slowing the market.

The silver lining, however, is that sellers are going to respond to the slow market by knocking off thousands, or even millions, off of their asking prices in an effort to encourage buyers. With tools like more available credit combined with lower asking prices, the market will likely tip in the favor of buyers—despite the recent interest hike.

Challenges of Rising Real Estate Interest Rates 

Experts predict that the recent interest rate increase will not be the last in 2017. One  more quarter-point raise is expected by the end of the year, followed by three more in 2018.

Economists foresee at least two challenges resulting from the higher rates. The first challenge is that lawmakers might overestimate the economy and make changes prematurely. If lawmakers make changes too quickly, the market may falter. Another challenge that may arise is raising rates too slowly. If the market suddenly starts to improve and rates are not raised fast enough, this may cause the economy to overheat.

Interested in Politics and Real Estate? 

Read how recent legislation like the Dodd-Frank Act might affect Los Angeles luxury real estate. Stay up-to-date on the latest market trends or contact one of our top real estate agents in Los Angeles to help you navigate the ever changing world of real estate.

Mercer Vine is the exclusive agent representing the Pacific Palisades, California real estate market as a member of the Haute Residence Real Estate Network. View all of their listings here.

Images courtesy of Mercer Vine

The post Mercer Vine: What An Interest Hike Means for LA Real Estate appeared first on Haute Residence by Haute Living.