Golden Beach, Hallandale, Hollywood Blog, Aventura, Golden Isles» Hollywood Florida

2011 Real Estate Market Report for Hollywood Lakes in Hollywood Florida

Scott Patterson — Thu, 15 Sep 2011 02:51:04 +0000

Hollywood Lakes is a distinguished single-family home neighborhood located in Hollywood, Florida.

Over the years, this luxury South Florida neighborhood has gained a reputation for its unique eclectic architecture.

Homes in Hollywood Lakes were built starting in 1924, and range from 1,000 to 10,000 square feet. The Lakes offer’s waterfront properties around Northlake and Southlake but there are also dry lots all in close proximity to the beach and new state of the art amphitheater.

During the first several months of 2011, there has been a lot of activity surrounding Hollywood Lakes homes for sale.

Continue reading to learn more about how Hollywood Lakes homes are faring on the South Florida luxury real estate market.

2011 Sales Data for Hollywood Lakes on the Hollywood, Florida Real Estate Market

Here’s a brief overview of the kind of activity that Hollywood Lakes properties for sale have seen on the South Florida real estate market:

Total Sales in 2011 YTD: 36
Highest List Price in 2011: $1,998,000
Lowest List Price in 2011: 229,900
Highest Priced Sale in 2011: $1.9 million
Lowest Priced Sale in 2011: $220,000
Maximum Square Footage on a Home Sold in 2011: 5503
Minimum Square Footage on a Home Sold in 2011: 1301
Minimum Days on the Market: 4
Maximum Days on the Market: 682

Hollywood, Florida Homes for Sale

In addition, residents are within just a short driving distance of all the high-end shopping and fine dining that Hollywood, Hallandale and Aventura have to offer.

If you’d like to learn more about homes for sale in the Hollywood Lakes subdivision – or any other Hollywood neighborhood – then contact me, Scott Patterson, your South Florida luxury real estate expert, today.

I’ll also let you know about available listings and answer any questions you might have about surrounding communities, including:

Until next time,

Scott

New to the Market in Harbor Islands, Florida

Scott Patterson — Thu, 25 Aug 2011 13:29:40 +0000

Harbor Islands, Florida is perhaps one of the most desirable communities to live in within Hollywood, Florida. This South Florida community is well known for its lavish homes, beautiful neighborhood and great public and private schools.

Right now, you can invest in your own piece of paradise in Hollywood, Florida. Two homes in this elite community were recently listed on the market.

Continue reading to learn more about these two Hollywood Florida homes for sale.

Hollywood, Florida Real Estate

I recently listed two luxury homes on the Hollywood, Florida real estate market.

Here’s a breakdown of what these two Harbor Islands homes have to offer interested South Florida home buyers:

1061 Harbor Court

Waterfront
Located in “The Estates” section of Harbor Islands
Year Built: 2001
Single Family
List Price: $1,999,000
4 Bedrooms
5 1/2 Bathrooms
5,219 Sq Ft.
50ft. private boat dock with 14K lb boat lift

Learn more about this South Florida home by visiting our 1061 Harbor Court page.

1535 Windjammer Way

Waterfront (Direct Intracoastal)
Year Built: 2004
Single Family
List Price: $1,989,000
4 Bedrooms
4 1/2 Bathrooms
4,870 square feet
Private boat dock with 14K lb boatlift

Check out our community page for 1535 Windjammer Way!

Hollywood, Florida offers its residents plenty of amenities in its own right. But if you wanted to explore another community, you’ll find that Hollywood Florida is conveniently located within just a short driving distance to many other cities:

25 minutes from Miami
5 minutes from Aventura
5 minutes from Golden Beach
15 minutes from Fort Lauderdale

To learn more about living in Hollywood Florida – or about the two homes currently listed in Harbor Islands – contact me, Scott Patterson, your South Florida real estate expert.

While you’re at it, feel free to check out my other listings in such area South Florida communities as:

Until next time,

Scott

South Florida Real Estate Summer 2011 Market Update

Scott Patterson — Mon, 08 Aug 2011 18:19:03 +0000

The median sales price for South Florida homes has steadily increased since the start of the year , according to Ron Shuffield, president of our company, Esslinger-Wooten-Maxwell, Inc. Realtors

Here’s some of the recent news that Ron shared with us about the South Florida real estate market:

Between January and May of this year, the median sales price in Miami-Dade County rose from $150,000 to $180,000.
Between January and May of this year, the median sales price in Broward County rose from $165,000 to $190,000
61 percent of our company’s sales are for either a short sale or a foreclosure. However, that is down from 67 percent just four months ago.

Ron said he is “cautiously optimistic” about the most recent trends on the South Florida real estate market.

As the inventory of South Florida homes for sale continues to dwindle, prices are expected to increase, he said.

Learn more about the current state of the South Florida real estate market by watching the below video from our company’s president.

Navigating the South Florida Real Estate Market

If you’re interested in entering the South Florida real estate market as a home buyer or home seller, contact me, Scott Patterson, your South Florida real estate expert, today.

Whether you’re an interested South Florida home buyer or a South Florida home seller, I’ll be happy to answer any questions you might have as well as provide you with a number of helpful South Florida real estate resources to help make navigating the market easier.

Until next time,

Scott

Foreclosure Numbers Down on the South Florida Real Estate Market

Scott Patterson — Sat, 23 Jul 2011 00:00:19 +0000

Over the last couple of years, South Florida has gained a reputation for its many foreclosed homes. But recent data suggests that that reputation is becoming increasingly inaccurate.

Foreclosures in South Florida dropped by more than 50 percent during the first quarter of 2011 when compared with that same period in 2010.

The greatest drop in foreclosures was seen in Broward County.

Statewide, foreclosures rates dropped by 32 percent year-over-year in the first quarter.

South Florida Real Estate

There have been steep and steady decreases in foreclosure filings in South Florida since last fall, suggesting that the real estate market is recovering.

Here’s an overview of each of the three South Florida Counties:

In Broward County, foreclosures in the first quarter of 2011 dropped by 68 percent year-over-year, to 6,876 foreclosures.
In Miami-Dade County, foreclosures in the first quarter of 2011 dropped by 64 percent year-over-year, to 7,257 foreclosures.
In Palm Beach County, foreclosures in the first quarter of 2011 dropped by 57 percent year-over-year, to 4,734 foreclosures.

Investing in South Florida Real Estate

While it’s true that foreclosures are not viewed as a positive thing by interested South Florida home sellers, they can be a great opportunity for South Florida home buyers.

After all, South Florida foreclosures drive down home prices, which creates a South Florida home buyer’s market.

There truly are some great deals to be found on the South Florida real estate market right now.

But as foreclosures continue to decrease, home prices are expected to begin to rise again as we are already seeing in the market today. Especially in many waterfront communities.

Thus, if you’re thinking about entering the South Florida real estate market as a South Florida home buyer, now is a great time to do so!

Contact me, Scott Patterson, today and I’ll let you know about available listings in the area as well as answer any questions you might have.

I’ll also provide you with a number of helpful South Florida home buying resources, including:

Until next time,

Scott

South Florida Real Estate Market Praised by National Government

Scott Patterson — Wed, 20 Jul 2011 21:17:10 +0000

The Federal Reserve recently recognized the South Florida real estate market for its home resale market, according to a recent article in the Miami Herald.

The recognition was part of a larger report completed by the Federal Reserve in which they said the economy is expanding fairly steadily in most of the country, although some regions are showing negative growth.

Continue reading to learn more about the Federal Reserve’s predictions for the national economy as well as how South Florida home owners will be affected.

South Florida Real Estate Market Update

Although much of the South has demonstrated slowed growth, Florida actually stood out for its home resale market.

The report noted that Florida home sales are doing remarkably well and keeping at a pace that’s enviable. Real Estate market’s are very area specific and development specific, 31% of Florida sales are cash transactions but South Florida has a far higher percentage of cash transactions due to the higher number of International Buyers.

The report also found that leading economists predict that the national economy will expand at about 2.7 percent a year.

Although a complete economic recovery likely is still a ways away, it’s nice to know that the South Florida real estate market is standing out to the national government as an industry that is doing better than most.

This is definitely good news for South Florida home sellers as it shows them that there is movement on the South Florida real estate market and there are interested South Florida home buyers.

Selling Your South Florida Home

Have you been thinking about entering the South Florida real estate market as a South Florida home seller?

As a South Florida real estate expert, I will put together an aggressive marketing plan to ensure that we sell your home at the best price possible in as little time as possible.

To learn more about how I help South Florida home sellers, check out some of my FREE South Florida home selling resources, including:

Until next time,

Scott

Mexicans Increasingly Investing in South Florida Real Estate

Scott Patterson — Fri, 08 Jul 2011 17:52:40 +0000

For months I have been telling you about how Brazilian nationals have been spurring activity on the South Florida real estate market by investing in South Florida homes for sale.

Now it appears that another group of foreign nationals are finding South Florida real estate increasingly attractive: Mexicans.

According to a recent article in the Miami Herald, Mexicans find that South Florida is a safe place to invest their money outside of their home country, where violence has steadily increased over the years.

South Florida Real Estate Market Attracting International Buyers

While Mexican nationals have historically invested in properties in border cities such as El Paso and San Diego, an increasing number of Mexicans are investing in South Florida, specifically Miami.

By some estimate, Mexican investors have invested about $30 million in the South Florida real estate.

And according to the Commerce Department’s international trade administration, Mexicans made a direct investment of $31 billion in the United States in 2008.

Most experts attribute the surge in Mexican nationals investing in the United States to the violence that is occurring across the border.

Since the Mexican president Felipe Calderon launched a war on drug cartels in late 2006, more than 40,000 Mexicans have been killed in the fighting.

Consequently, the United States has issued an increasing number of visas to Mexicans. Between 2007 and 2009, the number of visas for Mexican investors grew from 15,000 to 21,000.

In 2009, about 250 Mexicans were granted asylum in the United States.

Purchasing a South Florida Home for Sale

As a South Florida real estate expert, I have years of experience working with international buyers.

If you’re thinking about relocating to South Florida from another country – or from another part of the United States – then contact me, Scott Patterson.

I’ll help make navigating the South Florida real estate market exponentially easier with my exclusive South Florida home buying tools. These include:

Until next time,

Scott

Brazilian Home Buyers on South Florida Real Estate Market Get National Attention

Scott Patterson — Wed, 06 Jul 2011 21:37:54 +0000

Brazilian nationals investing in the South Florida real estate market is making national news, as evident by a recent article by Bloomberg.

According to the article, Brazilian currency has developed a 45 percent gain against the United States dollar since 2008.

And while the United States economy grew by 2.3 percent between April 2010 and March 2011, the Brazilian economy (which is the largest in Latin America) grew by 4.2 percent.

This means that South Florida real estate has become increasingly attractive for international buyers – and this is great news for interested South Florida home sellers.

Brazilians Increasingly Investing in South Florida Real Estate

For several months now, the number of Brazilian nationals investing in the South Florida real estate market has steadily grown as these international buyers search for deals on vacation homes and property investments.

The effects of this on the South Florida real estate market have been tremendous:

Total sales on Miami’s condominium market have increased by 79 percent since the beginning of the year when compared to that same period in 2010.
Brazilians bought 9 percent of homes and apartments sold to international buyers between April 2009 and March 2010.
Brazilians are the third largest group of international buyers on the South Florida real estate market, behind only Canadians and Venezuelans.
In May 2011, international buyers invested in 60 percent of existing homes on the market and 90 percent of newly built homes.
Of those downtown Miami condos that sold for more than $500,000 to foreign investors, Brazilians accounted for about half of that group.
Of those Miami Beach property sales that sold for more than $1 million, the investor was Brazilian in about fifty percent of those sales.

It’s easy to see why Brazilian home buyers are flooding the South Florida real estate market when one considers the current state of the Brazilian real estate market:

Home prices in Brazil increased by 25 percent between June 2010 and May 2011.
In Rio, home prices increased by 44 percent.

Meanwhile, homes in the Miami area are selling for about 51 percent less than they did during the peak of the housing boom – which was in late 2006.

Listing Your South Florida Home for Sale

All of the activity being generated by Brazilian nationals on the South Florida real estate market is great news for interested South Florida home sellers.

This activity is creating demand that is giving South Florida home sellers some bargaining room when it comes to sales price.

In order to capitalize on the momentum that Brazilians are creating on South Florida’s real estate market, you’ll want to work with a South Florida real estate expert who knows how to effectively market your South Florida home for sale.

Contact me, Scott Patterson, your South Florida real estate expert, today and I’ll let you know how I can get you the best price on your South Florida home in as little time as possible.

To get things started, feel free to browse all of the helpful South Florida home selling resources I provide to South Florida home sellers. These include:

Until next time,

Scott

South Florida Real Estate Market Update for June

Scott Patterson — Tue, 28 Jun 2011 16:00:43 +0000

Several South Florida cities saw increases in their property values in 2010, according to a recent article in The Miami Herald.

Although property values for both commercial and residential real estate are still down in Miami-Dade and Broward counties for 2010, they’re still doing considerably better than in 2008 or 2009.

Continue reading to learn more about how specific South Florida communities stacked up in terms of property values.

South Florida Property Values

According to the most recent data:

10 municipalities in Miami-Dade County saw increases in value in 2010. In contrast, all 37 municipalities saw decreases in value in 2009.
Downtown Miami saw the largest year-over-year value increases in South Florida. The community’s tax base grew by 10.9 percent in 2010. In 2009, Downtown Miami’s tax base decreased by 11.2 percent.
In 2009, new construction in downtown Miami was valued at $362 million. In 2010, that value had climbed to $1.4 billion.
Key Biscayne’s taxable property value grew by 1.5 percent.
Sunny Isle’s taxable property value grew by 2.9 percent.
Pinecrest’s taxable property value grew by 0.8 percent.
New construction in Miami-Dade County fell from $2.7 billion to $1.5 billion.
New construction in Broward County also fell, from $1.5 billion to $633 million.
Homestead taxable property value fell by 9.6 percent. Still, that’s considerably better than in 2009, when property values in Homestead dropped by more than 31 percent.
Florida City’s taxable property value fell by 15.4 percent.

According to most South Florida real estate analysts, the recent numbers suggest that the South Florida real estate market has weathered the worst of the recent housing bust, but a complete recovery might not be for several months or even years.

Investing in South Florida Real Estate

Now is actually a fantastic time to invest in South Florida real estate.

Why? Because South Florida home values are still fractions of what they used to be before the South Florida housing bubble burst.

Thus, South Florida home buyers have the opportunity to get a great deal on a piece of South Florida real estate before prices start climbing.

If you’re interested in investing in South Florida real estate, then contact me, Scott Patterson.

As your South Florida real estate expert, I’ll answer any questions you might have about the South Florida real estate market as well as tell you about all of South Florida neighborhoods, including:

Until next time,

Scott

Several New South Florida Condominiums Planned

Scott Patterson — Wed, 15 Jun 2011 19:29:50 +0000

The Related Group, a prominent Miami-based developer, plans to break ground on six new high rise condominiums in the next year, according to a recent article in the Miami Herald.

The development group recently created a new partnership with Miami-based marketing firm International Sales Group.

The partnership, now called Related ISG, plans to market the six new condominiums to international buyers, particularly those living in Latin America.

Purchasing a South Florida Condominium For Sale

According to the article in The Miami Herald, Related ISG’s strategy is to focus on those buyers who invest with nothing but cash. The company hopes such investments will help pay for much of the construction costs upfront.

Although most of the details about the projects are unknown, the developer did provide locations of the proposed six condos:

Two will be built in the Brickell neighborhood of Miami
One will be a waterfront condominium community in North Miami
Two will be waterfront condominium communities in the Hallandale and Hollywood area.

Although the South Florida real estate market has struggled with a number of homes underwater as well as a large inventory of unsold condominiums, Related ISG said that the high demand for South Florida real estate by Latin American investors as well as recent strong condo sales justify the company’s plans.

And according to one estimate, buyers will pay as much as 80 percent of the purchase price before the building has ever been completed. This minimizes the risk that these new condominiums will go into foreclosure, said spokespeople from Related ISG.

Thinking About Investing in a South Florida Condominium for Sale?

Now is a fantastic time to do so!

Contact me, Scott Patterson, today to talk with me about all of the luxury condominiums in the various South Florida communities, including:

Until next time,

Scott

Affordability on South Florida Real Estate Market is Breaking Records

Scott Patterson — Thu, 09 Jun 2011 20:39:47 +0000

I recently read a rather interesting article in The Palm Beach Post that discussed the record-breaking affordability on South Florida homes for sale.

Evidently, affordability on Palm Beach County homes for sale reached a new high during the first quarter of 2011.

Palm Beach County isn’t the only county that’s enjoying this record-breaking affordability. Broward County as well as Miami-Dade County are also experiencing fantastic affordability on their homes for sale.

Purchasing A South Florida Home for Sale

There is a lot of data on the South Florida real estate market that illustrate just how affordable South Florida homes are right now:

A median-income family in South Florida could have purchased 77.5 percent of all the homes sold in the first quarter of 2011.
According to the National Association of Home Builders, the last time homes were this affordable in Palm Beach County was in early 1999, when a median-income family in South Florida could have purchased 77.4 percent of all the homes sold that year.
In comparison, a median-income family in South Florida could have only afforded about 30 percent of Palm Beach County homes during the real estate boom.

So what exactly is causing this great affordability in South Florida? A few factors are at play right now, including:

Low home prices
Steady incomes
Low mortgage rates

And even though home sales have picked up in recent months, it hasn’t caused prices to rise like they did during the housing boom a couple of years ago.

This is great news for South Florida home buyers looking for a deal on the South Florida real estate market.

Navigating the South Florida Real Estate Market

There’s never been a better time to be a South Florida home buyer. With record low interest rates and low South Florida list prices, there’s a good chance that you’ll find an amazing deal on a South Florida home for sale.

As a South Florida real estate expert, I am experienced working in several of the area real estate markets, including:

Until next time,

Scott