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:

• Aventura
• Bal Harbour
• Davie
• Hallandale
• Hollywood
• Golden Beach
• Sunny Isles
• And more!

Until next time,

Scott

Last time I discussed with you a trend on the South Florida real estate market in which home prices are dropping and South Florida home buyer interest is rising.

Today I’d like to discuss with you a recent report by Zillow.com that further breaks down the drop in South Florida home prices.

Zillow.com is a Seattle-based company that studies real estate trends all across the country.

South Florida Homes for Sale

According to the recent report by Zillow.com, South Florida home values decreased by 12.8 percent during the first quarter of 2011 when compared to the first quarter of 2010.

Compared with the 25 largest metropolitan areas, the South Florida area (which includes Palm Beach County, Broward County and Miami-Dade County) ranked number five for steepest drops in home values.

Detroit and Atlanta tied for the largest annual decline in home values at 17.3 percent.

Here’s what else the real estate website reported about our South Florida real estate market:

• South Florida home values have dropped to 2002 levels.
• Miami-Dade and Broward County home values are less than half of what they were five years ago.

And although Zillow.com previously predicted that the national housing market would bottom out by late 2011, experts are now saying that the housing market won’t bottom out until 2012.

Since Florida’s housing market crashed before much of the rest of the country, my prediction is that our housing market will bottom out earlier than that.

Purchasing a South Florida Home for Sale

The news from Zillow.com is likely grim news for South Florida home sellers looking to get a great price for their South Florida home for sale.

But for South Florida home buyers, conditions are just right to enter the South Florida real estate market.

For more information contact me today to further discuss your options on the South Florida real estate market as a South Florida home buyer.

Feel free to browse some of our amazing residential communities in South Florida online.  These include:

• Aventura Lakes
• Courtyards at the Point
• Island Estates
• Presidential Estates
• Harbor Islands
• Golden Beach
• And more!

Until next time,

Scott

Our South Florida real estate company is expected to sell more total South Florida properties this year than ever before , according to Ron Shuffield, president of our company, Esslinger-Wooten-Maxwell, Inc. Realtors

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

• Miami home and condo sales in the first quarter are up by 38 percent year over year.
• Broward County home and condo sales in the first quarter are up by 9 percent year over year!
• There is 55 percent less South Florida property inventory than three years ago.

All of this is great news for both South Florida home buyers and South Florida home sellers.

For South Florida home buyers, it means that they can find great deals on homes on the South Florida real estate market. After all, the median sales price has been steadily dropping over the last four to five years.

For South Florida home sellers, it means that the market will soon begin shifting in their favor.  Think about it:  the more home sales there are, the less inventory there is on the South Florida real estate market.

That scarcity of homes for sale, coupled with the demand for South Florida real estate, means that home prices will start to climb once again.

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

Entering the South Florida Real Estate Market

If you’re thinking about 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.

I’ll provide you with a number of invaluable South Florida real estate resources and help make navigating the South Florida real estate market easier for you and your family.

Until next time,

Scott

A lot can change over the course of a year in the South Florida real estate market.

The home sales data for this historic neighborhood (located off the Intracoastal Waterway and Atlantic Ocean) is compared below during the first part of the year for 2010 and 2011.

Hollywood, Florida Real Estate

Here’s a look at closed sales data in Hollywood Lakes from Jan 1, 2010 to May 16, 2010.  Please keep in mind this is only for closed sales not active listings.

• Total homes sold: 22
• Minimum list price: $160,000
• Maximum list price: $1,300,000
• Minimum sales price: $99,000
• Maximum sale price: $1,275,000
• Minimum Days on the Market: 1
• Maximum Days on the Market: 478

Now compare that with sales date for Hollywood Lakes between Jan. 1, 2011 and May 6, 2011:

• Total homes sold: 17
• Minimum list price: $235,000
• Maximum list price: $619,000
• Minimum sales price: $234,000
• Maximum sale price: $580,000
• Minimum Days on the Market: 6
• Maximum Days on the Market: 401

One of the biggest conclusions I’ve drawn from this data is that the South Florida real estate market is beginning to stabilize and grow.

Consider This: 45 percent of homes that sold in that time period in 2010 were on the market for more than 100 days, compared with 41 percent in 2011.

And while sales prices are lower in 2011, they’re closer to the list price than in 2010, where the difference varied widely in some cases.

Thinking About Selling Your South Florida Home for Sale?

I can help! As your South Florida real estate expert, I have years of experience in successfully marketing South Florida homes for sale and getting a good price for home sellers.

Contact me, Scott Patterson, today to learn about all of the South Florida home seller resources I provide, including:

• State of the market
• Marketing plan for sellers
• Showing your property
• Request a pre-listing package
• Pricing Your Property
• Selling South Florida real estate eBook
• And more!

Until next time,

Scott

Brazilians are playing an increasingly important role on the South Florida real estate market, according to recent South Florida real estate market data.

Although Brazilians have been investing in Miami real estate since at least the 1990s, there seems to have been an increase in recent years.

This trend is partly because of the favorable currency conversion rate as well as increased Brazilian spending power, experts say.

Here are some more recent findings as they relate to Brazilian home buyers on the South Florida real estate market:

• According to a recent Franklin Templeton survey of foreign investors,  70 percent of  Brazilians surveyed said they plan to invest money overseas this year.
• Miami is ranked 8th for foreign investment in real estate in the United States.  New York, Washington, DC, Boston and San Francisco are the top places for foreign investment.

Investing in South Florida Real Estate

In addition to a favorable conversion rate, there are plenty of reasons to explain why so many Brazilians are choosing to invest in South Florida real estate:

• An excellent public school system
• Beautiful communities in the greater South Florida area, including Aventura, Hallandale, Sunny Isles, Golden Beach, Hollywood and Davie
• Numerous South Florida recreational amenities
• Amazing waterfront condominiums in such residential communities as One Island Place,
  Peninsula I,  Peninsula II, Sunny Isles Beach Ocean One, Harbourwoods Villas, and  Ocean Palms.
• And more!

Purchasing a South Florida Home or Condo for Sale

Have you recently been considering relocating to South Florida? If so, you’ll want an experience South Florida REALTOR to guide you through the process.

Contact me, Scott Patterson, today to learn more about all of the South Florida home buyer resources we offer to South Florida home buyers, including:

• Local resources and businesses
• Search the MLS
• Buyer FAQs
• Helpful calculators
• Buying South Florida Real Estate ebook
• And more!

Until next time,

Scott

I  have some exciting news for interested South Florida home buyers and home sellers. We recently redesigned our website to make it easier for you to navigate the South Florida real estate market!

Here’s a look at some of the features we recently added or improved:

• High definition community videos of some of our residential communities, including Hollywood Lakes, Harbor Islands, Golden Isles, Island Estates, Golden Beach and Aventura Lakes.
• Beautiful pictures of Aventura, Golden Beach, Hallandale and our other South Florida communities throughout the site to help you visualize what it’s like to live here.
• Comprehensive  summaries of our South Florida communities, including Aventura, Bal Harbour, Davie, Hallandale, Hollywood, Golden Beach and Sunny Isles.
• Community summaries on several of our South Florida neighborhoods, including Exotic Acres, Golden Gate Estates, Golden Pointe, Harbour Islands, Hollywood Lakes, Island Estates and Presidential Estates.
• Community summaries on several of our South Florida condominium communities, including Bal Harbour Bellini, Hamptons South, Ocean Palms, One Island Place, Peninsula I, The Point, and  more!

Personalized South Florida Real Estate Service

I strive to give every interested South Florida home buyer and home seller the best service possible.   That’s why we also added some of these social features to our website that helps us stay connected to you:

• Client log-in page
• EWM Mobile home search, which allows you to search for available South Florida homes using your cell phone.
• A Facebook Page so you can keep up-to-date on what we’re doing for you at EWM.  Become our friend today!
• While you’re at it, add us on Twitter as well!
• And much more!

Thinking About Entering the South Florida Real Estate Market?

With our newly designed website, it’s never been easier to navigate the South Florida Real Estate market!

Contact me, Scott Patterson, your Aventura area real estate expert today, to learn more about what we can do for you.

Until next time,

Scott

Brazilians are visiting and investing in South Florida in record numbers, according to a recent article in The Miami Herald.

The South Florida newspaper reported that not only are Brazilians storming the luxury South Florida real estate market, but they’re also investing in local businesses.

According to the article, the recent surge in Brazilian visitors and Brazilian home buyers in the South Florida real estate market is largely credited to Brazil’s booming economy.  In fact, the country’s economy is expected to become the fifth largest in the world by 2016.

In addition, Brazil’s currency is stronger than the dollar, which makes investing in South Florida all the more appealing for Brazilian home buyers.

More Signs that Brazilians Are Making a Huge Impact on South Florida Real Estate

Luxury  Condominiums and Properties Available Now in Aventura, Florida and other South Florida Communities

As a seasoned South Florida REALTOR, I understand the importance of remaining informed about the South Florida real estate market in order to better serve South Florida home buyers.

Whether you’re an international home buyer from Brazil or a native Floridian who is interested in relocating within the state, I can provide you with expert real estate advice and cutting-edge home buyer tools, including:

• Buying South Florida Real Estate eBook
• Buyer FAQs
• And more!

I also suggest you browse all the available listings in some of South Florida’s most beautiful communities, including Aventura, Hallandale, Hollywood and Golden Beach.

In 2010, I spent a lot of time selling properties in the gated waterfront community of Golden Isles in Hallandale, Florida. In fact, of the 14 homes that sold in this community in 2010, I sold half of them.

Golden Isles has become a coveted address because of it’s location and access to the ocean. It’s central location puts you just minutes away from the unique communities of Aventura, Sunny Isles and Bal Harbour, this deep waterfront community is also less than 5 minutes from the newly constructed Gulfstream Park:

Community Amenities include:

•Tennis Center
•Park and Children’s Playground
•24 Hour Manned Gatehouse

I recently reviewed all of the sales in the Golden Isles community, below is a quick summary in case you’re thinking about entering the South Florida real estate market.

2010 Sales Data for the Golden Isles Community in the Hallandale Real Estate Market

Of the 14 homes that sold in Golden Isles in 2010, I sold seven.  Below I have listed the sales data for this sought after Hallandale community.

Total Sales in 2010: 14

Highest Priced Sale in 2010: $1,425,000 (Structure was torn down by buyer, corner property sold for land value)

Lowest Priced Sale in 2010: $440,000 (Knock down on north side of Tamarind Drive, the north side of Tamarind is the least desirable location in Golden Isles since it faces older condos built in the 50′s)

Maximum Square Footage on a Home Sold in 2010: 5,908

Minimum Square Footage on a Home Sold in 2010: 1,708

Given this community’s compelling location on the water and its close proximity to all the shopping, dining and entertainment venues of neighborhood communities, the lots in Golden Isles are quite valuable.

Buying a Home in Hallandale, Florida

Do you want to learn more about Golden Isles?  Check out my Golden Isles community page, which details all of the amenities you’ll find in this community.

If you’re a South Florida home buyer who is interested in learning more about all the available listings in Hallandale, Golden Beach, Hollywood and Aventura, then contact me, Scott Patterson.  I’d be happy to answer any questions you might have about the area and help make navigating the South Florida real estate market as easy as possible for you.

The advent of the Internet has made it a whole lot easier to be a South Florida home buyer. Why? Because it allows you to have a wealth of information right at your fingertips, from available listings in Hollywood, Florida to virtual tours of some of the most beautiful neighborhoods in the area.

My goal is to make navigating the South Florida real estate market as easy as possible. So I’ve made videos of some of the most coveted, luxurious residential communities in the area.

This month, I’d like to tell you about a community that has become well known for its tranquil vistas and friendly neighbors: Harbor Islands in Hollywood, Florida.

Dream Homes for Every Lifestyle in Harbor Islands Community in Hollywood, Florida

Situated on a cluster of islands along the Intracoastal Waterway, the 192-acre gated community of Harbor Islands is a paradise within the city of Hollywood.  Many of the homes in this amenity rich community are waterfront and feature  views of the Intracoastal and canals as well as have private swimming pools.

From waterfront estates to impressive town homes, there is something for every lifestyle at Harbor Islands, with prices ranging from $450,000 to $5 million.  Homes were built between 1996 and 2006 and range in size from 1,500 to 10,0000 square feet.

Although the neighborhood itself is expansive, you’ll feel right at home in one of Harbor Island’s distinctive communities: Edgewater, Harborside, Harborview, Grand Harbor Estates, The Estates, Harbor Pointe, Commodore Estates and Admiral’s Cove.

No matter which community within Harbor Islands you ultimately settle in, rest assured that you’ll have access to such world class amenities as:

• the Grand Clubhouse Recreation Center
• The 20-acre Joe Dimaggio Park, which includes paths for biking and jogging
• A Championship Tennis Center
• State-of-the-art Fitness Center and Spa
• The Loggerhead Club and Marina
• And more!

Ready to Enter the Hollywood, Florida Real Estate Market?

If you would like to learn more about what Harbor Islands has to offer its residents, check out my Harbor Islands community page, which will tell you even more about what it’s like to live in this amazing Hollywood, Florida neighborhood.

As your South Florida real estate expert, I’m constantly looking for ways to make your South Florida home buying experience easy and pleasant. Contact me, Scott Patterson, today to learn about featured listings in South Florida’s many beautiful communities, including Aventura, Golden Beach, Hallandale and Hollywood.

I’d also suggest you browse some of my other community pages to learn about other featured neighborhoods in Hollywood, including Hollywood Lakes as well as the condominium communities of  Ocean Palms and Villas of Positano

Farmers Markets are increasingly popular for their locally grown fresh produce and other local goods. One of my clients is opening a state of the art 100,000 sq. ft. facility with over 300 booths in Hollywood Florida: The “Yellow Green Farmers Market”, the grand opening will be on October 3rd 2010 and is located at 1940 N. 30th Rd. Hollywood Florida 33021  (954-513-3990) www.ygfarmersmarket.com . Since we are all looking for ways to lead healthy lifestyles, this is a great way to do so while supporting our local community and environment.

Now South Florida and the nearby communities of: Hollywood Oaks, Hollywood Lakes, Harbor Islands, Golden Isles, Aventura, Golden Beach, Presidential Estates and Sunny Isles can come enjoy fresh produce, fish, meats, cheeses, arts & crafts and much more.  Please join us in welcoming our new neighbor!