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Category Archives: Hollywood Florida

Report: Europeans Are Increasingly Investing in South Florida Real Estate

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Recently I read an interesting article in the Sun Sentinel about how European’s financial struggles are impacting South Florida real estate in a positive way!

Evidently, those Europeans with some extra spending money are investing in second homes in South Florida before the value of the Euro drops any further.

This has caused a recent spur in activity on such South Florida real estate markets in Aventura, Hallandale, Sunny Isles Miami and others.

Continue reading to learn more about this new trend!

South Florida Properties for Sale

Here’s a look at how Europe’s Euro woes are affecting various sectors of the South Florida economy:

  • Europe now comprises 16 percent of South Florida’s trade with the world
  • Europe also makes up 15 percent of shipments overseas from South Florida ports
  • Switzerland ranks as South Florida’s third largest trade partner, mostly because of the gold industry
  • European tourism to South Florida is also up!

And here’s how the crisis overseas is having a positive impact on South Florida’s real estate market:

  • International home buyers accounted for 15 percent of all sales in the state of Florida before 2007
  • In addition, the issues overseas are helping to keep U.S. interest rates low for the short term.

Plus, the dropping value of the Euro-zone has also led many Europeans to also invest in South Florida’s tourism and trade industries!

Your South Florida REALTOR

The recent investment on the part of Europeans on the South Florida real estate market will likely create a ripple effect.

As more Europeans snatch up available homes for sale, the total housing inventory will fall.

As that happens, sales prices will begin to creep up as demand for available South Florida homes begins to rise above supply of such homes.

This is great news for interested South Florida home owners who are hoping to sell their property for a good price!

For more information on how Europe’s financial woes may affect you as a home seller, please contact me, Scott Patterson.

I have years of experience selling properties on such local housing markets as:

Until next time,

Scott

South Florida Home Inventory is Dwindling as More Buyers Enter the Market

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Home sellers throughout the country – including in South Florida – are expecting home prices to rise soon since the number of available homes for sale continues to decrease, according to a recent Bloomberg article.

The article goes on to say that home inventories are near lows that were last seen in 2005 and more home sellers are needed on the market.

Continue reading to learn more about this developing trend to discover how it may affect you as a South Florida home buyer!

Properties for Sale in Broward County, Florida

Here are some of the highlights of the recent Bloomberg article I read:

  • National home listings dropped to 2.37 percent in March, a decrease of 22 percent when compared to March 2011.
  • Currently, there is a 6.3 month supply of homes on the national housing market
  • In some parts of the country, the supply of homes fell even further. For instance, some markets had less than a three-month supply at some point earlier this year.
  • Existing home sales from January to March 2012 were the highest first quarter on record since 2007.
  • Meanwhile, the median sales price in 146 metro areas fell to $158,100, down 0.4 percent year-over-year.
  • Nationally, housing affordability is at an all time high. One index recently showed that a family with a median income of nearly $61,000 would be able to afford a $325,000 home – more than double the median price of all homes in the country right now.
  • During the first quarter of 2012, national foreclosure filings fell to their lowest levels since 2007.
  • Meanwhile, re-sales of Fannie Mae and Freddie Mac foreclosures fell to 77,104 homes in the first quarter of 2012, down 18 percent year-over-year.
  • The national inventory of new homes has also fallen – to 144,000 in March. That figure is actually the smallest number of new construction homes on record since 1963.

Here’s what the Bloomberg article specifically noted about the South Florida real estate market:

  • Florida’s median home prices are beginning to rise as foreclosed home transactions have declined.
  • In Miami-Dade County, the number of listings in April fell to a 5.7-month supply, down 35 percent year-over-year.
  •  In Broward County, the number of listings in April fell to a 4.2-month supply, down 31 percent year-over-year.
  • Also in Broward County, condo prices have increased to $75 a square foot, up 10 percent year-over-year.
  • Meanwhile, home prices have increased to $80 a square foot in Broward County, up 2.6 percent year-over-year.

Florida real estate analysts are crediting the declining home inventory to the fact that home buyers are flooding the market looking for great deals as the South Florida housing market bottoms out.

But as more home buyers snatch up available homes for sale, home prices are expected to rise as demand starts to exceed the supply, analysts say.

Thus, now is a great time to invest in a South Florida property for sale.

Purchase a South Florida Home for Sale Today!

There are plenty of reasons to want to invest in a South Florida property for sale. From increasing rental rates to record low interest rates – home ownership hasn’t looked this appealing in a while!

Thus, if you’re interested in owning your own South Florida home, contact me, Scott Patterson, today!

As an experienced REALTOR in Broward and Miami-Dade counties, I’ll be more than happy to assist you at every stage of the home-buying process.

Interested in starting your South Florida home search immediately? Then please be sure to check out some of the helpful home-buying tools I offer online, such as:

Until next time,

Scott

Hollywood Historic Home Tour Coming Soon to South Florida

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Are you a South Florida resident who has a deep appreciation for historical homes and architecture? If so, I recommend you attend the Hollywood Historic Home Tour on February 26.

During the tour, residents will be able to check out 6 luxurious Lakes homes, as well as several antique cars that will be on display.

I’m excited to report that I will be the main sponsor for the event.

Continue reading to learn more about this annual event, which is now in its 11th year.

Tour Hollywood, Florida Homes

Incorporated in 1925, Hollywood was initially developed in reaction to the South Florida Boom times of the 1920s.

The community was meant to be a “city of dreams,” according to its original founder, Joseph Young.

Today, the community conjures images of luxury single-family homes and high-end hotels whenever it’s mentioned to South Florida residents.

Considered the 9th largest city in the state of Florida, Hollywood  is also known for its family-friendly atmosphere and deep historical roots, especially when it comes to its collection of historical homes.

That rich Hollywood history will be celebrated during the 11th annual Historic Homes Tour.

Here are the details:

  • When: 1 to 4 p.m. on Sunday, February 26

  • Where: Event starts at Art & Cultural Center, 1650 Harrison Street in Hollywood

  • Admission: $25  Advance ticket sales by mail available.

  • More Info: Proceeds benefit The Hollywood Historical Society, a 501c3 non-profit cultural organization.

  • Contact: Call 954-673-7739 or visit www.hollywoodhistoricalsociety.org for more information

Relocating to Hollywood, Florida

Hollywood is a rich city, full of history and personality.

In fact, one of the reasons I love sponsoring the Hollywood Historic Home Tour each year is because it really showcases what makes Hollywood such a special and unique city.

If you’ve been thinking about investing in Hollywood real estate lately and making it your permanent home, be sure to contact me, Scott Patterson, your South Florida real estate expert.

I’ll be happy to tell you about the various residential communities in Hollywood as well as tell you about available listings in the area.

You can even start your South Florida home search today by checking out my user-friendly home search tools. These tools allow you to narrow down your search by price range.

For instance, you can:

Until next time,

Scott

2011 Real Estate Market Report for Hollywood Lakes in Hollywood Florida

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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

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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

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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

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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

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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

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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

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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