The year 2011 was marked by increasing sales volumes, international home buyers using cash only and depressed home prices, according to a recent report from the Miami Association of Realtors.

Continue reading to learn more about how the South Florida real estate market fared at the end of 2011 – and what local real estate experts are predicting for 2012.

Florida Homes for Sale in the Aventura, Hallandale and Golden Beach Areas

Here’s an overview of some of the trends that South Florida REALTORS saw on the local housing market in 2011:

• International home buyers spent about $3.5 billion in cash on distressed South Florida real estate
• Although home sales increased and the total housing inventory decreased in South Florida, home prices remained relatively stagnant.
• The South Florida rental market saw growth as former home owners became renters.
• The home inventory in South Florida dropped to 28,000, or by about 40 percent.
• Meanwhile, the shadow inventory of foreclosed homes that are not listed for sale yet increased to more than 200,000.
• South Florida existing home sales increased at a slower rate than earlier in the year, although median home prices began to increase.
• In Miami-Dade County, there were 1,064 condo sales in November, up 2 percent from November 2010.
• Meanwhile, single family home sales increased by 11 percent year-over-year, to 755.
• In Broward County, there were 1,089 condo sales in November, down 1 percent from November 2010.
• Meanwhile, single-family home sales increased by 22 percent year-over-year, to 961.

Analysts are cautiously optimistic about what 2012 will bring for the South Florida real estate market.

While some believe that there isn’t likely to be any real market rebounds until 2013, others believe housing market activity will improve considerably in 2012.

Here are three predictions that the Miami Association of Realtors made for the new year:

• Home prices will remain low. Experts believe that the high number of distressed properties on the market will keep home values depressed. As an illustration, more than half of all South Florida home sales in November involved a foreclosure or short sale. In a normal market, those types of properties would have made up less than 5 percent of sales.
• There will be an increase in foreclosed properties on the South Florida real estate market. In 2011, there was a slowdown in foreclosed properties entering the market as banks dealt with a backlog of court repossession paperwork. But experts predict that slowdown will end in 2012, possibly dragging down home values further.
• More people invest in the rental market, fueling South Florida home sales. While it may seem counter intuitive, an increasing number of South Florida investors are buying homes to turn them into rental properties because of the high demand for rental properties in the area. This in turn is helping create activity on the local real estate market.

Your South Florida Real Estate Expert

While we may not be out of the woods yet, there are plenty of signs to suggest that the sluggish South Florida real estate market is beginning to improve.

The year 2012 may become a turning point on the South Florida real estate market.

For expert advice on the best way to navigate the local housing market as a home buyer or a home seller, make sure to contact me, Scott Patterson.

As your South Florida real estate expert, I have extensive experience working in such local housing markets as:

• Aventura Real Estate
• Bal Harbour Real Estate
• Hallandale Real Estate 
• Golden Beach Real Estate
• Sunny Isles Real Estate
• And others!

Until next time,

Scott

If you’re the kind of discerning South Florida home buyer who values luxury, prestige and elegance, then you’ll be thrilled to learn about the most recent new listing on the South Florida real estate market.

An 8,400 square foot home in the elite Villa Flora community of Williams Island was recently listed on the Aventura real estate market.

There are only 14 homes in this exclusive Aventura community, so it’s a rare treat when one of them becomes available for purchase.

Continue reading to learn more about this magnificent Aventura home for sale and how it can become your dream South Florida home.

Aventura Homes for Sale

The home located at 1524 Island Boulevard  is an impressive architectural feat, even by the high standards set by the gated Villa Flora community.

This Aventura home is situated on point lot, the largest lot in the community and provides incredible, unobstructed views of the bay.

Built with the highest-end materials available, this South Florida home features 6,596 square feet of living space, including 6 bedrooms and 7.5 baths.

There are also a number of recreational features provided throughout the home, including:

• A state-of-the-art home theater
• Social Room
• Pub
• Heated swimming pool
• Wet bar with built-in grill
• Large Terrace

The high standards and attention to detail are evident throughout the residence:

• Custom-made kitchen with top grade appliances
• Granite counter-tops
• Hardwood and marble floors
• Faux and custom wallpaper
• Elevator
• Library
• Three beautifully designed fireplaces
• 3 car garage
• Impact windows and doors
• And more!

Plus, as a resident of Villa Flora, you’ll have unlimited access to all of the recreational amenities right on the property, including:

• Marina, which accommodates boats up to 120 feet
• Spa
• State-of-the-art fitness center
• Tennis courts

1524 Island Boulevard #13: An Unbeatable Find on the Aventura, Florida Real Estate Market

This incredible South Florida home is currently listed for $4,500,000.

Contact me, Scott Patterson, today for more information on what this home in the Villa Flora community has to offer.

And for additional help on navigating the South Florida real estate market, make sure to check out all of my helpful home buying tools, such as:

• Buyer FAQS
• Buying South Florida Real Estate eBooks
• Search MLS

Until next time,

Scott

Everybody on the South Florida real estate market can’t seem to stop talking about Resorts World Miami, a planned development that will feature hotel,  convention, entertainment, restaurant, retail, residential and commercial space.

Back in May, the Genting Group bought about 14 acres of downtown Miami for $236 million.

That price is just a drop in the bucket, however, when you consider that the company is investing  $3 billion for the new development.

Continue reading to learn more about this incredible downtown Miami development – which some say is rapidly becoming one of the top five projects being built in the world.

South Florida Real Estate is About to Get a Major Facelift

The company Genting has big plans for their recently purchased downtown Miami site.  In fact, they hope the development solidify’s Miami’s reputation as one of the leading tourism locales in the world.

What’s more, this project will have a phenomenal impact locally by creating thousands of construction-related jobs as well as permanent jobs.

And recently, Genting announced that Resorts World Miami will be 3 million square feet bigger than originally announced.  That’s nearly 10 million square feet, filled with such amenities as:

• 700,000 square feet of convention and meeting space
• 200,000 square feet of ballroom
• A super-luxury hotel, a contemporary hotel, a family hotel and a conventional hotel – totaling more than 5,200 rooms
• Two residential towers with about 1,000 units
• 250,000 square foot luxury retail center
• More than 50 restaurants
• Lounges, bars and nightclubs
• Possibly even a casino!

According to one recent news article, Resorts World Miami will feature several outdoor terraces as well, including a 1,000-foot-long, 3.6 acre outdoor lagoon on one of the tower’s rooftops.

This project is so amazing, it’s hard to wrap one’s head around it.

But suffice it to say, when complete, this project will not only reshape Miami’s skyline, but the whole South Florida real estate market as well.

South Florida Real Estate Experts

It will still be some time before residents are able to move in to a unit at Resorts World Miami.  If you’d like to learn more information about this amazing development in the interim, however, contact me.

As your South Florida real estate expert, I’d be happy to answer any questions you might have as well as let you know about available listings at some of our other South Florida residential communities, including:

• Hamptons South
• Hidden Bay
• One Island Place
• Peninsula I
• Peninsula II
• Sunny Isles Beach Ocean One
• Sunny Isles Beach Ocean Two
• Sunny Isles Beach Ocean Three
• Sunny Isles Beach Ocean Four
• And others!

Until next time,

Scott

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:

• Aventura real estate
• Bal Harbour real estate
• Davie real estate
• Hallandale real estate
• Golden Beach real estate
• Sunny Isles real estate

Until next time,

Scott

There’s a new South Florida luxury condominium community coming to Aventura, Florida – and this one is sure to raise the bar when it comes to luxury South Florida real estateBellini at Williams Islandwill feature 70 spacious units – all of which are waterfront.Prices for this amazing South Florida condominium community start at $425 per square foot, with just four units per floor on most levels.

Continue reading to learn more about what this brand new South Florida luxury condominium has to offer interested Aventura home buyers.

Aventura, Florida Luxury Real Estate

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:

• Aventura real estate
• Bal Harbour real estate
• Davie real estate
• Hallandale real estate
• Golden Beach real estate
• Sunny Isles real estate

Until next time,

Scott

Recently Plum TV and Zakarin Martinez Public Relations partnered with the town of Golden Beach to create an upcoming documentary about living in the South Florida community.

Continue reading to learn more about this informative documentary as well as what Golden Beach has to offer to interested South Florida home buyers.

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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

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:

• Buyer FAQs
• Buying South Florida Real Estate eBook
• Featured Properties
• South Florida area information
• And more!

Until next time,

Scott