I was planning to cover a few topics today, but I keep circling back to one important thought: if you’re sitting on the fence, waiting for interest rates to drop before buying a home—you’re making a mistake.

I’m not a banker or an economist, but here’s what I know: even when the Federal Reserve lowers its rates, it doesn’t always mean mortgage rates will follow immediately. The Fed’s moves mainly affect how banks lend to each other, not directly to homebuyers. So, waiting for a “perfect rate” can be misleading.

I spoke with one of my lending sources, Eric Intihar, about this. He told me, “Don’t wait—because as rates go down, demand goes up, which can push home prices higher.” That’s a key point: hesitation can cost you more than a slightly higher interest rate.

Let me share an example. In 2010, I put a one-bedroom condo in The Grand in Edgewater under contract for $125,000. The market was cautious, especially for international buyers. Fast forward to today, that same unit closed at $495,000. That’s roughly a 9.6% annual rate of return over 15 years. History shows that South Florida real estate appreciates over time—and timing the “perfect” rate is tricky.

If you’re a first-time buyer, there are programs to help. Miami-Dade County (MDEAT) offers up to $28,000 for closing costs, and the City of Miami has assistance for single-family homes, townhomes, and condos. The HomeTown Heroes program provides benefits to first responders, healthcare providers, veterans and educators.

Sylvia Pool of Sunflower Lending reminds buyers, “Rates are at their lowest in a year. Waiting in hopes of catching the perfect rate is a risk.” The reality? The right home, at the right time, is worth more than waiting for the perfect interest rate.

A qualified Realtor® can help you navigate today’s market and find the property that fits your lifestyle. I am Robbie Bell, your urban lifestyle specialist and a licensed broker associate with Berkshire Hathaway HomeServices EWM Realty. I hold several certifications:

• Certified International Property Specialist (CIPS) – giving me the ability to assist you both at home and abroad.
• Certified Probate Real Estate Specialist (CPRES) – allowing me to guide you through estate and probate matters.
• Seniors Real Estate Specialist (SRES) – my most recent accomplishment, helping seniors (my peer group!) with downsizing and life transitions.

I truly love being a lifestyle specialist and would be delighted to help you with your real estate journey. Reach out anytime at 305-528-855 or robbie@robbiebell.com.