Category Archives: Aventura

Aventura Townhouse Shatters Previous Record with $4.45M Sales Price

access_timeAugust 4, 2014personScott Patterson

How much would you be willing to pay for luxury? How much would it mean to you to be able to say that you live in one of the most elite zip codes in South Florida, that you enjoy the most opulent amenities and the most magnificent views in all of Aventura?

For one recent South Florida home buyer, the price to enjoy such luxury is right around $4.45 million dollars – the highest sales price for a townhouse in Aventura ever!

So What Does $4.45M Get You On the Aventura Real Estate Market?

This majestic Aventura Villa Flora Townhouse, which is located in Villa Flora within Williams Island, boasts 6 bedrooms, 7.5 bathrooms and a total of 7,102 square feet of living space.

Located in the gated community of Villa Flora at 1524 Island Boulevard in Aventura, this gorgeous property will give its new residents sweeping bay views on a stunning and masterfully maintained estate.

Inside, the residents will be awe-inspired with their spacious home theater, gorgeous master suite with His & Her Master bathrooms, custom kitchen with wolf and sub-zero appliances and even custom wall paper.

Meandering through this elegant estate, the residents will also be able to appreciate such fine attention to details as coffered ceilings, plantation shutters, hardwood floors, marble floors and even a personal elevator.

Other features that will make other buyers jealous that they didn’t nab this deal first:

Lovely fireplace
Ornate wall detailing
Stunning chandeliers
Enormous kitchen
Grand staircase
Magnificent garden tub
And more!

And there will never be a shortage of storage space in the garage, given that it can accommodate three cars.

Meanwhile, what South Florida luxury estate wouldn’t be complete without a tranquil heated pool in the backyard? And although dockage was not included, the buyers had the option of including it as part of the greater community.

And You Can’t Beat This Residential Community in South Florida!

Williams Island is beloved for its gorgeous and luxury real estate properties as well as its endless list of recreational amenities for residents.

Here you can enjoy a relaxing day at Williams Island Spa, spend a day shopping in some of the fine boutiques nearby or even enjoy a little friendly competition at the nearby tennis courts.

Perhaps you might prefer to spend a day on the water with the services offered at the nearby 99-slip marina or take your children to the local playground. You can do it all right here on Williams Island!

Allow Me to Help You With Your Next South Florida Home Purchase!

We really are thrilled about the recent sale of this elite townhouse in Aventura. Not only are the buyers getting an exceptional and one-of-a-kind piece of real estate but it’s also good for the local housing market.

If you’re interested in living in this high-end community, please contact me, Scott Patterson, today.

I would love to answer any questions you may have as well as tell you about available listings for sale in Aventura!

Until next time,

Scott

The Point of Aventura Expected to Get Large Scale Renovations Soon

access_timeJuly 14, 2014personScott Patterson

Talk about a major overhaul! The Point of Aventura, a luxury condominium with a track record for excellence, is about to receive some major renovations that will make it even more magnificent.

From the salon to the yoga studio, lobby to the garden room – there won’t be an inch of The Point that isn’t improved during this major renovation.

In the end, the residents of this community will be restored to a level of prestige and comfort that they’ve come to expect and deserve.

Flurry of New Luxury Condos Is The Driving Force Behind Renovations

According to the above video, The Point’s Master Board passed the large scale renovation project during a recent meeting.

A major driving force behind the renovations is the fact that the South Florida real estate market is seeing a flurry of new construction activity in the luxury condominium market.

This is putting pressure on existing condominiums to undergo large scale renovations in order to keep pace with area competition. For instance, the nearby Williams Island recently underwent a $5 million renovation of its spa and fitness center.

The results have been nothing short of incredible, with an overwhelmingly positive response from the residents and even a boost in property sales.

Now it’s The Point’s turn to undergo a major renovation that will significantly improve quality of life at this luxury South Florida condo.

Here is a breakdown of the renovations that are expected for the various sections of the building:

The Salon

More square footage
Elevated ceilings with improved lighting
Resort level equipment
New retail area for products
Appropriate ventilation and exhaust to enhance the experience

The Spa

New sauna and steam equipment
Enhanced lighting throughout
Fully functional massage treatment rooms
Redesign of various amenities for improved layout

The Lobby

Modernized finishes
New reception area that’s strategically placed for better visual monitoring
Upgraded grand staircase
New multipurpose room

Garden Room

Upgraded lighting
Improved ceiling design for elegance and improved acoustics
New audio visual system with drop down projection screen
Multi-zone temperature and volume control

Upper Level

An independent exterior access point to public hallways that will prevent further interruptions in the garden room

Throughout the Building

Expanded and renovated yoga room
New multipurpose room
Dedicated Pilates room

Wow! That’s an lengthy list of improvements coming to The Point

I personally can’t wait to see how it all comes together.

It’s encouraging to see that community leaders are dedicated to improving quality of life for current and future residents.

What’s more, these luxury upgrades are sure to result in the skyrocketing popularity of this condo on the Aventura real estate market.

Now is An Ideal Time to Relocate to The Point Condos in Aventura

Be one of the first residents to enjoy all of these fabulous upgrades. Purchase a luxury South Florida condominium at The Point today!

Contact me, Scott Patterson, your South Florida real estate expert, now and I’ll be happy to assist you by answering all of your questions about this community as well as telling you about available listings here.

Until next time,

Scott

Miami-Dade County, Florida Real Estate is Booming!

access_timeApril 13, 2013personScott Patterson

Things are continuing to look up for the South Florida real estate market, according to the most recent data released.

Evidently, more and more investors are coming to South Florida to get a piece of the action – which in turn is strengthening our local housing market.

Miami, Florida Area Homes for Sale

According to the most recent article I read in the Miami-Herald, plenty of private equity firms in the area are snatching up prime South Florida real estate lately.

For example, Fort Capital recently purchased the historic Surf Club in Surfside. It is expected to be revitalized and later sold.

That’s what the company did after it bought most of the Capri South Beach along with other coveted pieces of South Florida real estate.

Experts say that the South Florida market is getting hotter and hotter, with demand rising.

This is particularly true in the hotel arena, where investors are buying and building hotels left and right!

The latest activity reflects a national trend in which the lodging industry is expected to spend more than $5 billion this year on upgrades that range from redesigned lobbies to additional fitness centers and restaurants.

Here in South Florida, some of the more specific drivers to this recent hotel boom include rising tourism numbers, scarcity of available land and more lenient lending policies.

Here’s what else you should know about the South Florida hotel industry:

Through September, hotels in Miami-Dade were more than 76 percent full, which is up slightly from the same period a year before.
Room rates in South Florida increased by 7 percent to almost $163.
Revenue per available room in South Florida also grew by about 8 percent year-over-year to $124.55.
Hotel transactions volume is expected to be about $650 million in the county this year, up 13 increase when compared to 2011

You may be thinking to yourself – that’s great but what exactly does this mean for the South Florida residential housing market?

Since everything is inter-connected, more interest and investments in the South Florida hotel market will likely lead to more interest and investments in the South Florida real estate market as well!

Your South Florida Real Estate Expert

To learn more about how the current hotel industry boom here in South Florida will benefit the local residential housing market, please contact me, Scott Patterson.

I’ll also be happy to assist you with all of your home-buying and home-selling needs on any one of the following South Florida real estate markets:

Until next time,

Scott

Luxury South Florida Condos Planned for Aventura and Hollywood Florida

access_timeMarch 8, 2013personScott Patterson

Two more luxury condominiums are coming to the South Florida real estate market, according to a recent article I read.

The Miami Herald reported that Property Markets Group is planning luxury condos for both Aventura and Hollywood!

Evidently, PMG is working with the well-respected architect Carlos Otton in planning these new projects.

This is tremendous news for interested South Florida condo buyers who are in the market for a luxury condominium.

Aventura and Hollywood, Florida Condos for Sale

Here’s some additional information about the two condominiums planned for Aventura and Hollywood.

In Hollywood, the 24-unit Sage Beach will feature two-, three- and four-bedroom residences.

These units will all come with private elevators, a plunge pool and grand foyer.

The units at Sage will range from 2,000 to 2,850 square feet and will have an average price per square foot of roughly $650.

In Aventura, PMG is planning a 190-unit condominium community known as ECHO.

This community will feature 2-, 3- and 4- bedroom floor plans with interior designs by Yabu Pushelberg.

In each one of these Aventura condominium units, interested South Florida buyers will find such desirable features as kitchens on each terrace, private elevators, Apple technology-compatible infrastructure and more!

ECHO’s units are expected to range from 1,600 to 4,000 square feet, with an average price per square foot of $550.

Find Your Dream South Florida Condominium Today!

The newest luxury condominiums that are currently in the planning stages are guaranteed to be quite distinctive on the South Florida real estate market!

If you’re interested in learning more about possibly investing at Echo in Aventura or Sage Beach in Hollywood, please contact me, Scott Patterson.

If, however, you’d prefer to continue looking for your dream South Florida residence, please be sure to check out some of these other residential neighborhoods in the area:

Until next time,

Scott

South Florida Seeing a Shortage of Foreclosures

access_timeDecember 3, 2012personScott Patterson

The outlook continues to look rosier and rosier for South Florida home sellers lately!

According to the most recent media reports, there’s a shortage of foreclosures for sale.

Rates of foreclosed homes for sale have dropped in both Miami-Dade and Broward County!

This is great news for area home sellers since foreclosures generally pull down the median sales price, meaning that it’s harder for sellers to get the price they want for their own home.

Real Estate for Sale in Aventura, Sunny Isles, Golden Beach, Hallandale, Hollywood and More

Here’s an overview of the most recent South Florida market data, according to the Miami Herald:

Broward County foreclosures-related home sales were about 3,259 during the second quarter, down 31 percent from last year.
In Palm Beach County, there were about 2,966 foreclosure sales, down 15 percent from a year before.
Miami-Dade foreclosures down about 29%.
Distressed properties account for 20 percent of all sales in Broward County.
In that county, the average price for homes is $126,230.
Meanwhile, distressed properties account for 22 percent of all sales in Palm Beach County.
In that county, the average price for homes is $121,766.
During the week ending on Oct 24, there were a total of 9,149 homes for sale on the Miami, Florida real estate market, including more than 2,000 that were in some stage of the foreclosure process.
Also during that week, the average listing price for Miami homes was $592,559, up 0.7 percent from the previous week.
Between July and September, the median sales price for a 1-bedroom Miami home was $120,000
The median sales price for a 2-bedroom home was $119,050
And the median sales price for 3- and 4-bedroom homes was $150,100 and $225,000, respectively.

As previously noted, foreclosure sales have a negative impact on area home sellers because they tend to pull the median home sales price and market values down.

Thus, the fact that foreclosure-related sales are dropping is a positive sign for area home sellers who want to get the best price on their home!

Your South Florida Real Estate Expert!

If you’re interested in learning more about how the recent trend on the South Florida real estate market will affect you as a home seller, please contact me, Scott Patterson.

I have experience with helping home owners sell their homes on such local real estate markets as:

Thus, I’ll be happy to help you with all of your South Florida real estate needs as well!

While you’re at it, I encourage you to take a few moments to check out some of my helpful online home selling resources, such as:

Until next time,

Scott

South Florida Real Estate Market Showing Signs of Rebound and Growth

access_timeNovember 29, 2012personScott Patterson

There’s reason to celebrate a little for the South Florida real estate market – especially if you’re a home seller with a list price under 1 million.

From a decreasing supply of available homes for sale to rising sales prices – now is a great time to be a Seller especially if your property is listed under 1 million today. It’s all about “Supply & Demand” which is very price sensitive and it’s very important to understand the market depends on the “List Price” of your property, the higher the “List Price” the more inventory there is.

Below, I’m going to tell you some of the recent findings from a national index on the health of the South Florida housing market.

Selling South Florida Real Estate

According to a recent market report, South Florida home prices increased by more than 5 percent in July when compared to July 2011 (depending on price range).

That’s not all that has South Florida home sellers excited!

Here’s a look at some other good news that has recently come out about the market:

In August, Broward County had fewer than 5,000 single-family homes for sale.
When compared to a year ago, Miami-Dade & Broward County’s inventory has nearly been cut by 40-50%.
Meanwhile, Palm Beach County’s home inventory was about 6,648 in August, which is 43 percent less than it was a year ago.
In Miami, the average price per square foot of Miami area homes was $155, down 4.3 percent from the same period last year.
Between July and September, the median sales price for Miami homes was $155,000, up 6.9 percent from the year before.
Also during that period, the total number of Miami home sales decreased by 11.6 percent.
Broward County’s unemployment rate decreased from 8.1 percent to 7.8 percent between July and August. This is good news for home sellers because it means that more home buyers are in a position to purchase a home.
Broward County’s unemployment rate is now better than the national average, which is 8.1 percent.
Meanwhile, Palm Beach County’s unemployment rate also fell to 9.6 percent, albeit that’s still higher than state and national averages.
Interest rates have continued to fall, with the average 30-year fixed rate falling to a record-setting 3.4 percent recently. Such low rates are sure to attract additional home buyers.

Still, the recent article I read noted that there are some ways in which the housing market can improve even more.

For instance, inaccurate home appraisals have been blamed in recent years for delaying or costing real estate deals.

Experts are now calling for more accurate and consistent appraisals to aid in the housing market’s recovery.

Some are also saying that a slight increase in interest rates may increase home buyer demand since home buyers will feel a sense of urgency to invest before interest rates continue to climb.

Your Dedicated South Florida Real Estate Expert

The South Florida real estate market is a complicated industry with plenty of moving parts that may affect your experience as a home seller.

So for an optimal experience that results in you selling your home in a short amount of time and for a great price, please contact me, Scott Patterson.

I have years of experience working on the South Florida real estate market and I’ll be happy to provide you with invaluable advice, helpful home-selling resources and more!

Start today by requesting my free selling South Florida real estate eBook or a pre-listing package!

Until next time,

Scott

EWM International Realty is now Larger and Better than Ever!

access_timeNovember 26, 2012personScott Patterson

We have exciting news to share with you about our company’s parent company, Berkshire Hathaway.

Berkshire Hathaway has purchased the real estate franchise “Prudential” / Real Living and launch an entirely new brokerage brand for these agents: Berkshire Hathaway HomeServices.

Our South Florida real estate company EWM has been owned by Berkshire Hathaway for the last six years.

This new purchase, however, is guaranteed to make the company even stronger and more responsive to home buyer’s and home seller‘s needs.

Selling Real Estate in South Florida and Around the Country

Berkshire Hathaway has acquired Prudential’s agent network from Brookfield Asset Management.

Next year, Berkshire Hathaway and Brookfield will begin converting Home Services agents over to the new brand as well.

The new company will be based in Irvine, California and will be led by a team of Prudential Real Estate executives.

Here are some more facts of this recent deal:

Berkshire’s HomeServices of America (which already owns local brokerages with 16,000 agents in 21 states) will be the majority owner
The Prudential and Real Living brands will be eliminated over time.
Independent local brokers that HomeServices already owns will not have to switch affiliation but their branding will start to note that they’re owned by Berkshire Hathaway.

Your South Florida Real Estate Expert

By aligning ourselves with this new and improved super real estate company, EWM will have even greater access to real estate resources that will ultimately help you as the buyer or seller!

Thus, we’re quite thrilled about this newly formed real estate company!

If you’re considering entering the South Florida real estate market anytime soon, please contact me, Scott Patterson.

I’ll be happy to assist you as you navigate any one of the following South Florida markets:

Until next time,

Scott

South Florida Developers Are Proposing Dozens of New Condominiums

access_timeNovember 1, 2012personScott Patterson

Developers are feeling so confident with the South Florida real estate market lately that they’re planning on constructing dozens of new condominiums in the upcoming months and years.

According to a recent article I read, developers are proposing almost 55 new condominium projects totaling more than 10,000 units in the communities of Miami, Fort Lauderdale and West Palm Beach.

This signals that the South Florida housing market is becoming increasingly robust and attractive for real estate transactions!

South Florida Luxury Condominiums for Sale

Miami-Dade County has been leading the area with new condominium projects in the works.

Evidently, there are nearly 40 proposed projects in the county, all of which total more than 7,900 units.

These condominiums are expected to be built in Aventura, Bal Harbour, Miami, Key Biscayne, Miami Beach, Sunny Isles including the development The Village at Island Estates that I am representing.

Broward County has the second most proposed projects with 11. These condominiums will bring an additional 1,600 units to the area and will be constructed in Fort Lauderdale, Hallandale Beach and Hollywood.

In third place is Palm Beach County with at least 5 proposed condominium projects totaling 700 units. These condominiums are expected to be constructed in Juno Beach and West Palm Beach as well as Gulf Stream.

Experts are saying many domestic and international prospective developers are sweeping South Florida searching for previously approved projects that were put on hold after the housing market bubble burst in 2007.

Leading the way in this latest condominium development blitz is the 23 Biscayne Bay condominium in Greater Downtown Miami.

One tower has already been constructed and an additional 11 are expected to be completed as soon as 2014.

As of the second quarter of 2012, buyers have purchased about 93 percent of the nearly 49,000 new condos created in the largest coastal markets during the most recent South Florida real estate boom that began in 2003.

At the current sales pace of nearly 150 units per month, the 3,400 unsold new condos could be acquired in the first half of 2014.

Many of these newly proposed condominiums appear to cater to niche markets, such as the high-end luxury condominium market.

These new developments plan to attract high-end buyers with such features as incredibly spacious balconies, automobile elevators and personal swimming pools.

Your South Florida Real Estate Expert

This is an exciting time to be a South Florida home buyer – especially given all of the new luxury condominiums that are expected to be constructed soon!

If you’re thinking about relocating to South Florida anytime soon and investing in your own condominium, please contact me, Scott Patterson.

I’ll be happy to walk you through the condo-buying process with helpful advice and user-friendly resources such as:

Until next time,

Scott

Report: Fewer Homes for Sale Available on the South Florida Real Estate Market

access_timeOctober 31, 2012personScott Patterson

Available homes for sale on the South Florida real estate market have decreased significantly year-over-year, according to a recent article I read.

The Palm Beach Post reported that the available inventory of homes for sale was down 34 percent in September when compared to September 2011.

This is fantastic news for South Florida home sellers in such communities as Golden Beach and Sunny Isles who are hoping to get a great price on their property.

South Florida Homes for Sale

Here’s an overview of recent activity on the South Florida real estate market, according to the real estate analysis firm Zillow:

High-priced homes for sale in Broward, Miami-Dade and Palm Beach counties were down 34.4 percent year-over-year.
Meanwhile, inventory of homes in the lower-priced tiers were down 33 percent.
In that same period, the national inventory of homes for sale has decreased by 19 percent.
In Palm Beach County, the inventory of single-family homes had fallen to less than five months in August.
When compared to August 2011, Palm Beach County’s home inventory has fallen 57 percent.

On the same day that Zillow released its report, the company RealtyTrac reported that Florida saw the most foreclosure activity in September.

Although some are concerned this may cause a drop in home prices as these foreclosed homes are sold, experts say that it’s more likely that these homes will more than likely be short-sold, which will help preserve prices.

List Your South Florida Home for Sale Today!

As I noted earlier, a drop in available homes for sale is a great sign for interested South Florida home sellers.

That’s because the low supply of available homes will spur even greater home buyer demand, which will ultimately drive up prices.

Thus, if you’re thinking about listing your South Florida property anytime soon, now is a great time to do so!

For expert tips on navigating the market as a South Florida home seller, please contact me, Scott Patterson.

I have years of experiencing helping home owners sell their properties in a number of local communities, including:

Until next time,

Scott

Argentinians Now the Most Active Investors on the South Florida Real Estate Market

access_timeOctober 25, 2012personScott Patterson

For months, I’ve been telling you about how much of an impact Brazilians investors have been making on the South Florida real estate market.

Now, according to a recent article, it appears that there’s another Latin American country that has taken over as a lead investor of South Florida real estate: Argentinians. This recent trend is expected to have quite a positive impact on our local housing market!

South Florida Homes for Sale

According to the recent article in the New York Times, the value of local currency has created the most recent trend on the South Florida real estate market.

The value of Brazil’s currency (the real) has been weakening against the dollar in recent months.

Meanwhile, as Argentina’s peso has also weakened and inflation has increased to 25 percent, upper-class Argentinians are deciding to invest their money in American real estate instead.

Here’s this recent trend at a glance:

Capital outflow from Argentina increased from $11.4 billion to $21.5 billion between 2010 and 2011.
At Opera Tower on North Bayshore Drive, half of the 30 apartments that have sold in the past month were to Argentines.
Many of those purchases were all-cash.
Since Opera Tower started selling condos again about six months ago, 90 of the remaining 394 units have gone under contract and most of the investors were Argentinians.

And according to the article, another group of Latin Americans may be increasingly investing in the South Florida real estate market soon: Venezuelans.

Evidently, concern over the outcome of the upcoming Oct. 7 elections has lead many Venezuelans to want to invest their money in the American real estate market – particularly in South Florida and New York.

Your South Florida Real Estate Expert

As I’ve often noted, the South Florida real estate market is a popular place for Latin Americans to invest their money.

These investments have profound effects on the overall health of the local housing market.

Thus, I’ll keep you posted as more develops on this recent real estate trend.

In the meantime, if you’re considering selling your South Florida property anytime soon, please contact me, Scott Patterson, today!

It will be my pleasure to help you with all of your home selling needs as well as provide you with such helpful tools as:

Until next time,

Scott