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

Here in Aventura, Florida, interested South Florida home buyers have plenty of residential communities from which to choose.

From waterfront high rise condos to tranquil single-family neighborhoods, there’s something for every interested Aventura home buyer.

Today I’d like to tell you a little bit about the Aventura condo known as Peninsula I. This incredible waterfront condominium features units ranging from 3,000 to 4,000 square feet, with prices starting at about $700K and can run upwards of $2 million.

Peninsula Amenities

• Full service business center
• 24-hour air-conditioned storage units
• State-of-the-art fitness center
• Relaxing spa
• Lighted tennis courts
• Fitness trails
• Swimming pool
• Billiard room
• Card room
• And so much more!

In addition, residents at Peninsula I also have access to such  services as concierge and security services.

Investing in an Aventura Condominium at Peninsula I

One look at the current state of the Aventura real estate market further illustrates how highly desirable a condominium unit at the Peninsula I truly is, below is some current data gathered from the Multiple Listing Service.

Current YTD 2011 Data

• Average list price per square feet: $295
• Average sales price per square feet: $263
• Maximum current list price: $1,399,000
• Minimum current list price: $730,000
• Maximum sales price: $1,300,000
• Minimum sales price: $640,000
• Total sales this year: 7

Entering the South Florida Real Estate Market

If you’ve been thinking about investing in a South Florida condominium, I suggest you check out the Peninsula I in Aventura.

This South Florida condominium community offers its residents nothing but the finest when it comes to amenities and services.

Check out all of the helpful South Florida home buying resources. These include:

• Search the MLS
• Buyer FAQs
• South Florida School information
• Helpful calculators
• Buying South Florida real estate eBook

Until next time,

Scott

The MIAMI Association of REALTORS recently released some data that describe the current state of the South Florida real estate market.

One of the group’s biggest conclusions was that Broward housing inventory has fallen below a six month supply. Keep in mind this is averaged out for all price ranges, however when it’s broken up in different price range categories from like $1-2 Million, or $2-3 Million and up the picture is much different as there are more month’s supply, in other words the the higher the price range, the more inventory there currently is.

For example today in Broward County we have approximately 83 months supply of single family homes over 3 million dollars and less than 4 months supply for single family homes less than 300,000.

The group found that inventory of residential listings in Broward County fell by 27 percent – or from 20,143 in May 2010 to 12,742.

Comparatively, total housing inventory nationally only fell by 1 percent.

This is great news for interested South Florida home sellers.  After all, as there become fewer homes there are on the South Florida real estate market, demand for South Florida homes will inevitably rise.

When demand for South Florida homes rises, South Florida home sellers will have more bargaining room when it comes to selling their South Florida home.

More Information on the Current State of the South Florida Real Estate Market

Here’s some additional data that the MIAMI Association of REALTORS recently released:

• Condominium sales in Broward County increased from 1,348 in May 2010 to 1,537 in May 2011.  That’s a 14 percent increase year-over-year.
• Single-family home sales increased by 6 percent – or from 1,078 in May 2010 to 1,142 in May 2011.
• Cash transactions made up 60 percent of all closed residential sales in May
• Statewide, condo sales increased by 17 percent while single-family home sales increased by 3 percent.
• Meanwhile, national homes sales decreased by 15.3 percent during that same period.
• The average sales price of condominiums on the South Florida real estate market increased by 3.7  percent from May 2010 and May 2011.
• The average sales price for single-family homes on the South Florida real estate market decreased by 2.3 percent from May 2010 and May 2011.
• Statewide, the median sales price for condos increased by 2 percent from May 2010 and May 2011.
• Statewide, the median sales price for single-family homes decreased by 5 percent from May 2010 and May 2011.

Entering the South Florida Real Estate Market as a Home Seller

If you’ve been considering selling your South Florida home, now is a great time to do so!

As the inventory of South Florida homes for sale continues to decrease, South Florida home sellers will have more of a say when it comes to setting a sales price.

As a South Florida real estate expert, I’ll be happy to walk you through what I can do for you as a South Florida home seller.

This includes answering any questions you might have, developing an aggressive South Florida marketing plan for your home, and providing you with such South Florida home selling resources as:

• Pricing Your Property
• Showing your property
• Request a pre-listing package
• Selling South Florida Real Estate eBook
• And more!

Until next time,

Scott

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.

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:

• MLS Search
• Buyer FAQs
• Helpful Calculators
• Buying South Florida Real Estate eBook
• 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

When the last developable island goes on the market, it’s big news here in South Florida.

My listings of the 8-acre island in Aventura, FL was recently a cover story in the Miami Herald.

Now, a national cable news program is covering this amazing opportunity on the South Florida real estate market as well!

Fox News Broadcasting Live from North Island in Aventura, Florida All Day Today

I’m thrilled to announce that Phil Keating of Fox News will be broadcasting a story on South Florida Real Estate live from North Island at Island Estates all day today.  This coverage will also feature interviews with yours truly as well as aerial views of North Island.

The program will run from 10 a.m. to 8 p.m. today.  Fox news will be doing Liveshots every few hours.

Tune in at approx. 11 a.m. every few hours until 8pm to  see one of the best pieces of property available on the South Florida real estate market today.

South Florida Real Estate

Thinking about selling your South Florida home?  I can help!  Not only do I have experience selling single-family homes and condominiums in South Florida, I can also say I have experience marketing entire islands on the South Florida real estate market!

Contact me, Scott Patterson, your South Florida REALTOR,  to learn more about all of the amazing South Florida home seller services I provide, including:

• Pre-listing package
• Pricing your Property
• Selling 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

Not many people can say they own their own island.  That rare opportunity is available  in Miami-Dade County, Florida now.

I was overjoyed to learn that The Miami Herald wrote and featured a front page story on my 8 acres island listing.

Thinking about entering the South Florida real estate market as a South Florida home buyer? I can help!

As your South Florida real estate expert, I’ll provide you with invaluable home buying tools to help you make an educated decision on the South Florida real estate market, including:

• Buyer FAQs
• Buying South Florida Real Estate Ebook
• Information on our communities, including Aventura, Golden Beach, Hallandale and Sunny Isles
• And more!

Until next time,

Scott

For months, South Florida residents have been waiting for the completion of the prestigious  St. Regis Bal Harbour Resort, a luxury hotel and condominium community in South Florida.

The wait is nearly over!  According to a recent article in The Miami Herald, the sales center at The St. Regis Bal Harbour Resort recently opened.  And  developers appear to be putting the final touches on The  St. Regis, right down to the  resort’s lush landscaping.

Residential closings are expected to begin this fall at the exclusive waterfront resort, with prices starting at about $1.9 million.

World Class Amenities Abound at the Residences at the St. Regis Bal Harbour Resort

There are 270 homes available at The St. Regis, ranging  from one to five bedrooms.  Square footage in these amazing homes range from 1,777 to 6,868 square feet.

This is a fantastic addition to the already exclusive Bal Harbour community.  The 27-story resort will offer its residents only the finest in luxury living, including:

• Easy access to the trendy Bal Harbour Shops
• 10-foot ceilings
• European style kitchens
• 12,000 square foot Remede spa
• Marble and granite counter tops
• Valet and security services
• Resident only pools
• State-of- the-art fitness center
• And so much more!

Bal Harbour Real Estate

The opening of The St. Regis  is a wonderful thing for Bal Harbour because  it signals that the South Florida community is still a leader in luxury, waterfront living.

The Residences at the St. Regis join an elite group of high-end luxury condominiums, including the Bellini.

If you’d like to learn more about this amazing new community in Bal Harbour, Florida and other luxury South Florida condominiums, contact me, Scott Patterson, your South Florida real estate expert.