Luxury dining room.

Here’s Your 2019 Update for the South Florida Real Estate Market

With the new year comes new opportunities to invest in the South Florida real estate market! If you’re thinking about buying a property, or selling your current property, sometime in 2019, it’s important to keep on top of market conditions.

South Florida real estate conditions are expected to shift slightly throughout 2019. This is due in part to changes in the national real estate market, such as rising mortgage interest rates and a slow in the growth of home prices.

However, Florida remains an optimistic and highly valuable real estate market. Continue reading to learn everything you need to know about the changing South Florida real estate market in 2019.

Demand for Homes is Consistently High

Current inventory of Florida homes for sale will grow slowly over the next year. In addition, experts expect home prices to increase by about 4 to 5%. Industry leaders are optimistic about the state of the market in 2019. South Florida has always been a popular place to buy a home, and for good reason.

Florida residents enjoy beneficial tax advantages, including the lack of any income tax. As such, buyers from all walks of life, but especially retirees and “snowbirds” looking for summer homes, are attracted to the South Florida real estate scene.

Current Inventory of Homes is Low

Two red lounge chairs by an outdoor in ground pool.Across the United States, the current housing inventory has steadily decreased over time. This low supply of homes, combined with the consistent demand of homes in areas like South Florida, have created the conditions for a seller’s market.

If you’re interested in selling your South Florida home, it’s important to do some careful market research. A good starting point is finding out what your home is worth. Feel free to request a comparative market analysis from my team and I. We’ll research your home, inspect the market, and compare your property to similar properties in the South Florida area.

Mortgage Rates Expected to Increase

One key factor in the changing South Florida real estate market is the increase of mortgage interest rates. The interest rate for a 30-year fixed mortgage will rise to an average of about 5.25% by December, according to experts.

Growing interest rates are expected to tamper buyer demand, which is why home prices aren’t expected to increase rapidly this year.

Some Key Takeaways for the 2019 Real Estate Market

Saleswoman presenting a new project property on digital tablet.Long term investors in the Florida real estate market remain optimistic. The strong Florida economy combined with consistently high demand for homes in Florida have kept home values high.

As a result of ever-changing market conditions, there’s a new demographic of buyers to keep in mind. Many industry experts expect home demand to increase as a result of a newer, and younger, generation taking over the market. Millennials are currently the largest pool of potential homebuyers. In particular, households under 35 years of age are beginning to buy homes in South Florida.

As such, current Florida homeowners can expect home demand in South Florida to remain robust.

Making a Plan for Your Real Estate Ventures in 2019?

We would love to be a part of them! Give our team a call today to discuss all your 2019 real estate plans in South Florida. Whether you’re thinking of buying or selling real estate in South Florida, we’re here to help.

Have a question about the South Florida real estate market? Please don’t hesitate to reach out. I’m always happy to help.

‘Til next time,

Scott

 

Record Breaking Sale For Home Country Club Estates Home in Aventura

Front of Home

Record Sale Price for Aventura Home, Another Record Sale By Scott!

The home at 3683 NE 199 Street in Country Club Estates, also know as Aventura Estates closed on October 24, 2016 for a record selling price of $1,650,000. This price will mark the highest sales price ever in the 80 home gated community along Country Club Drive.

Home Quick Facts

The home was not on the golf course nor did it grant water views, it was an inside lot surrounded by foliage. The two-story home featured 4 Bedrooms, 4 Baths and a one-car garage.

Country Club Estates Community Info!

Country Club Estates is the only single family home community located directly on world renowned Turnberry Isles Resort & Golf Club in the heart of the City of Aventura.  Homes range in size from 2,600 to 5,500 square feet, popular for families and all about location with walking distance to Aventura Mall or a close by synagogue.  The homes offer luxury, elegance and space for entertaining your entire family and all your friends year round.

Watch HD Video of Country Club Estates!

Looking to Buyer or Sell a Home in Aventura or South Florida, I would be happy to assist.

Until next time,

Scott

Golden Isles Home for Sale Backyard

Golden Isles Home For Sale

Details About This New Waterfront Listing

Golden Isles Home for Sale in Hallandale Beach, Florida : The newly listed two-story waterfront estate located at 443 Holiday drive spares no expense, offering luxury amenities in a modern tropical setting.

443 Holiday Drive is in Golden Isles

The home is situated along the deep Intracoastal waterways of Golden Isles; one of South Florida’s most sought after luxury waterfront communities.

Features You Will Love About This Golden Isles Home

Home Features four bedrooms, three and a half baths, volume ceilings, bright and sun-lit living areas, state-of-the-art kitchen with top of the line appliances, large cook island, breakfast area and formal dining room all under 5,100 sq.ft.   The resort-style backyard with swimming pool, top of the line summer kitchen, Gazebo and deeded dock make for a backyard oasis, great for Alfresco dining and entertaining.   The second-story is exclusively dedicated to the ample master suite, with spa like master bath and private balcony.

Large circular driveway and two-car garage offers ample space for parking.

Learn More About This Golden Isles Home For Sale

For more information about this listing or to View other Golden Isles Homes For Sale, please visit www.scottpatterson.com or call me at 954-661-8871.

 

Until next time,

Scott

Brickell City Centre Is Set To Open This November

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The Brickell City Centre located in Miami, Florida long-awaited opening is just around the corner. After years of speculation and construction; the waiting game is over. Starting November 2016, the doors will finally open. Here is a breakdown of the tenants whom have officially been announced.

  • Clothing: 100% Capri, 120% Lino, Addict, Adolfo Dominguez, Agent Provocateur, Armani Collezioni, BDBA, Crocus Studio, Chopard, Cole Haan, Intermix, In-Sight, Kiton, Koko & Palenki, LIVE!, Lululemon, Mirto, Orlebar Brown, Onda de Mar, Rhythm of Grace, REISS, SportsAction, Sundek, Ted Baker, Vilebrequin
  • Fashion and accessories: Addict, Audemars Piguet, Acqua di Parma, APM Monaco, Bally, Caudalie, Capritouch, Coach, Diptyque, Designer Eyes, Font, Harmont & Blaine, Giuseppe Zanotti Design, Italia Independent, Illesteva, IRO, Kendra Scott, Kreations. Leetal Kalmanson, Michele Lopriore, Nars, Nest Casa, Pandora, Porsche Design, Richard Mille, Santa Maria Novella, Stuart Weitzman, Westime, Valentino
  • Dining: American Harvest, Big Easy Winebar & Grill, Calissons du Roy René, DAVIDsTEA, Dr. Smood, Häagen-Dazs, Luke’s Lobster, Pasión del Cielo, Pubbelly Sushi, Quinto La Huella, Santa Fe Ca Café, Sugar, Taco Chic
  • Arts and services: the Apple store, AT&T, Bojanini Art Gallery, Brickell Nail Bar, Musart, Sean Donaldson Hair

A few newly announced tenants have been added to the list as follows: Bruno Magli, Carmen Steffens, Baldinini, Boglioli, Lafayette 148, Samsonite, SPARIS and Violetas/Baccarat.

Swire, Simon, and Whitman property group have previously announced the anchor tenants as well: Cinemex, Saks Fifth Avenue and an Italian food hall. The City Centre is expected to draw in over two million visitors per year.

 

Until next time,

Scott…

This Weeks Featured Listing : 325 Layne Blvd

325 Layne Blvd_02Golden Isles – Hallandale Beach, Florida new Listing. Golden Isles is a private gated waterfront community with deep water and no fixed bridges. 325 Layne Blvd is all about luxury and has raised the bar once again in Golden Isles. Five bedrooms and five bathrooms under six thousand square feet of extraordinary luxury and custom finishes. This home is situated on a 92′ x 150′ foot lot with ample boat dockage, a 25K boat lift,325 Layne Blvd_15 new dock and batter pile seawall. The home is fully equipped with top of the line appliances, office, wet bar, smart home automation, two car garage, marble driveway, electronic gates, and of course a custom heated pool, this is a must see. Call me today to schedule a private showing.

-Scott

 

The Aventura Mall Expansion Is Underway

Aventura, FL – The beautiful city of Aventura is not only a great place to live in the many communities such as Porto Vita, Island Estates, Aventura Estates and also play golf at The Turnberry Isle Resort & Golf Club but the city is known for one of the nations largest and highest grossing luxury shopping malls in the US., “The Aventura Mall”. To many of us, it has become not only a convenience but staple of our Lifestyle.

The Aventura Mall not only has some of the best shopping around, its also has great restaurants, a movie theater, and an Equinox Gym. Well, if anyone is wondering what all the construction is on the east side of the mall, you can bet it’s going to be big. The new expansion of the mall includes a 315,000 sq. ft. retail wing and parking garage along with a host of destination restaurants and a new state of the art food court.QE5oWH2 Starting to sound good to you isn’t it? To top it all off, renderings have revealed plans for a new Tesla store to be included in the expansion. Let me know what stores you would want to see be included in the expansion in your comments below!

– Scott

THIS WEEKS FEATURED LISTING

342757635_5513 Palm Dr. Hallandale Beach, Fl. 33009

 

Golden Isles waterfront estate listed for $3.249 million. This new contemporary home was built on an large Intracoastal 100′ x 150′ lot and its many features include: five bedrooms, five bathrooms and two half baths with over 5,500 sq. ft. living area and over 7,200 total sq. ft.. Lavish landscaping on this tropical modern setting, large beautiful backyard with an over sized pool, jacuzzi and beach pad.

 

 

 

 

This waterfront home has a large chefs kitchen, formal dining room, down stairs master suite, tray ceilings, custom light fixtures, motorized shades, and lots of natural light adds sheer beauty to this home. Golden Isles is a boaters paradise with the Atlantic inlet nearby!   Call me today for a private showing: 954-661-8871

-Scott

Hassan Whiteside Possibly Buying A New Home In South Florida This Year

South Florida luxury real estate

Miami, Florida- Basketball season is out and the news is in. According to Bleacher Reports article and various other news sources, major basketball star Hassan Whiteside signed a four-year maximum deal with our very own Miami Heat. His new contract will be cashing in a whopping 98 million. WOW. You heard right, 98 million! That is a total of one hundred times more than his current Heat contract. With that being said, Whiteside is expected to put that money to good use and what’s better than real estate, right? There is a plethora of pricey real estate options for him to purchase here in South Florida. Currently, he resides in a two bedroom at 900 Biscayne but will he opt for a more lavish waterfront home? Or chose to stick to the high-rise lifestyle? Heat fans, I want to hear how well you know Whiteside!

Open House 524 Palm Dr. Hallandale FL

 

thumbnail_524 Palm Dr_02524 Palm Dr. Hallandale Beach, FL is in the sought after waterfront community of Golden Isles. This updated home boasts 4 bedrooms, 3 1/2 bathrooms, 2 car garage, all impact windows / doors and all under 3000  sq. ft. From the luxurious waterfront backyard to the dine-in chefs kitchen, look no further than this home. With its covered patio and gourmet summer kitchen it caters to the most picky client and is a boater paradise with deep water and no fixed bridge.

Please feel free to come and visit our Open House Sunday June 12th from 2pm – 4pm. See you there !524 Palm Dr_08

NEW LISTING AT TURNBERRY OCEAN COLONY

 

MAGNIFICENT views from this direct ocean 15th floor apartment. Turnberry Ocean Colony is located in Sunny Isles Beach just south of Golden Beach and north of Bal Harbour.  These neighboring cities are part of Miami-Dade county in South Florida. Turnberry Ocean Colony feature’s two 37-story towers and is one of the most exclusive and established oceanfront developments in Sunny Isles Beach . Each tower includes 130 residential units with Intracoastal and ocean views.

Unit Features:

  • Private elevator access
  • 2 bedrooms and 2.5 bathrooms
  • Wrap around balcony
  • Covered and valet parking
  • East direct ocean exposure
  • Top of the line appliances
  • Marble floors all through the unit

Building Features:

  • 35,000 sq ft. Private beach club
  • 650-ft of pristine white sandy beaches
  • Two pools
  • Spa and fitness center
  • Personal trainers
  • Private cabana’s available
  • restaurant and bar
  • World class concierge and security

This exclusive apartment is priced to SELL! Call me today for more information and to schedule your private showing.