Florida is the number one place for all-cash buys in the nation, and more than two-thirds of all sales in the Miami market are all-cash.
But the role of mortgages may soon grow in South Florida, playing a part in more deals — and brokers can benefit.
The Real Deal will explore a host of home financing topics with a top-flight roundtable next month in South Florida.
“Show Me the Money: Navigating South Florida’s Residential Mortgage Market” will be Oct. 3 at Miami’s Jungle Island, at 1111 Parrot Jungle Trail. The event, sponsored by Midtown Miami Residences and City National Bank, kicks off at 6 p.m. with a networking session; the hour-long panel discussion gets under way at 6:40 p.m.
Six experts in both real estate and finance are ready to take brokers through the often-complex process of finding funds for deals. Experts say there may be more opportunities for “traditional” mortgage-dependent buyers down the road, as rising prices have big investors scaling back. And the supply of homes in South Florida is also set to rise due to new construction — further creating more opportunities.
The panel will also delve into other topics including “upselling,” the pressure on applicants to take a higher-interest rate mortgage; changes coming down the pike from D.C. lawmakers than could affect the mortgage market; and more.
Slated to speak are Jay Parker, CEO of Douglas Elliman Real Estate’s operations in Florida; Ken Johnson, a professor at the Tibor & Sheila Hollo School of Real Estate at Florida International University; Cyndi Barros, a senior loan officer at Prospect Mortgage; Isabella Lacambra, a senior vice president and mortgage production manager at Gibraltar Private Bank & Trust; James Campanella, residential mortgage manager at City National Bank; and George Fraguio, director of end-loan financing for Fortune International.
The evening is free, but space is limited. To reserve a seat, reply to