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Category Archives: Sellers

Real Estate Market Report for Hollywood Lakes Subdivision in South Florida

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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:

Until next time,

Scott

 

 

New South Florida Real Estate Website Unveiled to Help South Florida Home Buyers and Sellers

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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:

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:

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

South Florida Home and Condo Sales Start Strong in 2011

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The year 2011 is off to a good start in the South Florida real estate market, according to a recent article in The Miami Herald.

The number of luxury condominiums and home sales in South Florida is resembling those levels seen in 2005. In fact, sales figures in Miami-Dade and Broward counties haven’t been this high in five years.

There were 1,262 sales of existing condos in Miami-Dade County in January, which is a 134 percent increase from January 2010, according to the Miami Association of Realtors

In Broward County, there were 1,318 condo sales in January, which is a 27 percent from the same month last year.

Single-family home sales in Miami-Dade and Broward counties increased by  55 percent and 18 percent respectively from January 2010.

A Shift to a Home Sellers Market?

Although area foreclosures continue to pull the median sales price for South Florida homes downward, experts are saying that the increased activity in South Florida home sales as well as the shrinking inventory of homes on the market may have a counter effect.

As South Florida home prices begin to rise, the market might switch from being a buyer’s market to a seller’s market.

South American buyers, enjoying a favorable conversion rate to the U.S. dollar, are expediting this switchover by investing in the South Florida real estate market in large numbers.

Still, the South Florida real estate market seems to be a buyer’s market at this point, as evident by some recently released data:

  • The median sales price on Miami-Dade condos was $91,200 in January, which was a decrease of 36 percent from 2010.
  • In Broward County, the median sales price rose slightly – by 2 percent – to $68,900.
  • The median sales price for Miami-Dade single family homes fell 18 percent to $150,800 when compared to January 2010.
  • The median sales price for Broward County single family homes dopped by 5 percent to $165,100.

Ready to Enter the South Florida Real Estate Market?

If you’re the kind of home buyer who loves a good deal, now is a great time to enter the real estate market.  Prices are still low, more financing has opened up and interest rates are still at record lows.
Recent signs in the market, however, suggest that the South Florida real estate market is shifting toward a seller’s market.  Once that happens, prices on luxury condominiums and homes will inevitably rise.
Contact me, Scott Patterson, your Aventura real estate expert, today to learn about available listings in some of our luxury Aventura condominiums, including:

While you’re at it, feel free to check out some of the other amazing South Florida communities, including Bal Harbour, Golden Beach, Hallandale and Hollywood.

2010 Real Estate Market Report for Golden Isles in Hallandale, Florida

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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.

2010 Real Estate Market Report for The Point in Aventura, Florida

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The year 2010 proved rather successful for The Point development in Aventura, Florida.  Several South Florida real estate buyers invested in condos at each of The Point’s five towers and it’s easy to see why.
The Point community is the apex of luxury living.  From its breath-taking views of the Atlantic Ocean and Intracoastal Waterway to its resort style amenities, The Point has it all!
I recently compiled all the 2010 sales data for The Point to see just how successful 2010 was for this development and even I was impressed with how well the community fared. If you are in the market to buy or sell real estate in Aventura, such as at The Point, this information will prove invaluable for you.

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2010 Golden Beach Florida Real Estate Market Report

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Given its relatively small size, Golden Beach in South Florida sure has been a prominent force in the South Florida real estate market.  From major town renovations to celebrity residents, the coastal town has continued to show a commitment to excellence for its residents.  Today, Golden Beach is one of the most exclusive communities in South Florida.

I recently analyzed all of the 2010 sales data for the Golden Beach real estate market, which I’ve provided below.  If you are in the market to buy or sell real estate in Golden Beach, you’ll definitely want to check out this information before you enter the market.

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Where Do Buyers For Golden Isles Hallandale Florida Come From?

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Where Did The Buyers Come From??

France

Slovenia

U.S. (Miami)

U.S. (New Jersey)

Canada

Golden Isles Year In Review

Golden Isles is a gated waterfront single family home community with approximately 307 homes.  In 2008 there were a total of 10 sales in Golden Isles.  The lowest sales price was $500,000 and the highest sales price was $1,649,000.  I am very active in this community and sold 50% or 5 of the sales in this community in 2008 including the 2 sales mentioned above.  Clients often ask me “Where will the buyer for my house come from”? and although I don’t have a crystal ball, I do know where 50% of the buyers for this Golden Isles Waterfront community came from and even though this community is a small part of South Florida it is still a good representation of how international South Florida truly is.

Golden Isles Active Listings

Active Listings: 31

Highest Priced Listing: $4,999,000

Lowest Priced Listing:  $769,900

Marketing Hollywood Florida Real Estate with High-Tech Tools

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In today’s competitive Hollywood, Florida real estate market, home sellers deserve the absolute best in terms of property visibility. You really do deserve the most sophisticated marketing plan for your South Florida property. And sophisticated South Florida buyers are targeting Golden Beach, Hallandale, Aventura and Hollywood luxury neighborhoods with pinpoint accuracy. How is this possible?

National Websites & Smart Phone Tools for South Florida Home Buyers

While it’s important for a South Florida real estate agent to provide typical neighborhood information like area maps, easy to use South Florida MLS property search tool, offer neighborhood information and hyper-local market stats on their personal websites, tech-savvy buyers are using even more creative resources to access South Florida neighborhood listings. In addition to my personal South Florida real estate website at BuySouthFlorida.com, a few of the creative ways I make sure your listing is exposed to the masses includes the use of high-traffic national websites, smart phone applications and of course, this South Florida real estate blog.

Creative Hollywood, Hallandale, Aventura, and Golden Beach Property Marketing Strategies

Below are a few strategies and tools used to market your Hollywood, Aventura, Golden Isles or Golden Beach property.

What Do You Expect?

What other creative marketing tools and strategies would you expect to see take place if you were to place your South Florida home on the market?

Hollywood Florida East Market Report (5 Year Snap Shot)

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Hollywood Lakes

Supply & Demand Hollywood Florida

In order to assist both Buyers and Sellers in better understanding the South Florida real estate market and precisely Hollywood East including “Hollywood Lakes” I have provided a “Supply and Demand” graph of the past 5 years. The peak of the market was April 2005 when there was hardly any inventory and tons of sales creating what is called a “Sellers Market”, we had approximately as little as 2 months supply of single family homes in both Broward and Miami-Dade Counties.

Condo v.s. Single Family Homes

If we were to graph different areas throughout South Florida they would all look very similar to this graph with the exception of the “Condo Market” which is dramatically different. Although often grouped together the “Condo Market” and the “Single Family Home” market are “Apples and Oranges”. The “Single Family Home” “Waterfront Market” is in much better shape than any other sector of the real estate market. Sellers were in the drivers seat for a very long time but today the Buyers have much of the control due to the abundance of inventory and especially International Buyers that are also taking advantage of the weak dollar.

What Is A Healthy Real Estate Market?

Many of the single family home markets have anywhere from 20 to 50 months supply of inventory and some of the condo markets have up to 90 months supply, depending on the location, price range and even the development. To give you an idea of what is a “Healthy Market”, we need no more than 6 to 12 months supply, below 6 months supply is a “Sellers Market” and above 12 months supply is a “Buyers Market”.

International Influence

I could talk about supply & demand and the whole real estate market forever but let’s all be thankful we are selling and/or owning properties in South Florida (Hollywood, Golden Isles, Aventura and Golden Beach) where we have one of the largest concentration & influence of international Buyers in the US. The Aventura Mall is now one of the top grossing malls in the country mainly due to “International” shoppers. My sales so far this year are up 22% over last year, I contribute this directly to South Florida being the place the world wants to be.

Aventura Real Estate Agent to Connect in San Francisco at Inman Conference!

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It’s All the Buzz of the Real Estate Experts in South Florida

All the buzz here in the South Florida real estate community is about whether I should attend the Inman Real Estate Connect that takes place in a few weeks in San Francisco. The other day my EWM buddy and South Beach Realtor, Kevin Tomlinson told me I should go. Even my real estate marketing partners at Dakno told me it’s the place to be to learn all the last on Internet marketing strategies and blogging tips. Based on the advice of Brad Carroll with Dakno Marketing, Crystal Coast Real Estate Blogger and Dakno associate Bobby Carroll, Kevin T. and EWM COO Beth Butler – San Francisco here I come!

Lookout Aventura, Hollywood, Hallandale, and Golden Beach Real Estate Markets – I’m Going to Connect!

I look forward to meeting with my peers and learning about the latest and greatest technology and issues in our industry as well as visiting beautiful San Francisco! I already have locked in my place to hear our own Beth Butler of EWM when she speaks at the conference. Plus, this is a great opportunity to connect with many of the top Blogging Realtors throughout the country and bring back many fresh ideas to my real estate markets in Aventura, Golden Beach, Hallandale and Hollywood.

See you in San Francisco!

Scott


Connect SF 2008