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Category Archives: Waterfront

3 Reasons You’re Going To Love This Hallandale, Florida Rental Property

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Hallandale listingI recently listed a rental property on the Hallandale Florida real estate market and I have to say – it’s going to be nearly impossible to find a unit this nice in the immediate vicinity.

This 630-square-foot property, located at 455 Golden Isles Drive #106, was completely gutted and remodeled in order to reflect the most modern standards in home design and architecture.

If you’re interested in renting real estate in the beautiful community of Hallandale, you may have just discovered your dream property!

More Information on Hallandale Real Estate

Here are three reasons why prospective residents are going to love this property in Hallandale:

  • It has a beautiful new kitchen designed for convenience and comfort
  • It is a first floor apartment with stunning views of the canal
  • Docks are available for lease

What’s more, this home features new flooring, a new bathroom, new impact windows and fresh paint! Plus, it’s the only apartment with a washer and dryer inside the unit.

Listed at $1,500, this property features 1 bedroom and 1 bathroom. Residents who want the furniture in the apartment to remain would lease the property for $1,900 a month.

Built in 1966, this condominium for rent also offers residents access to a swimming pool as well as waterfront views.

Hallandale, Florida: Welcome Home!

Hallandale listing 2If you’re ready to take the next step toward renting this incredible property, then please contact me, Scott Patterson, today.

I’m your dedicated South Florida REALTOR and I’ll be happy to help you with all of your real estate needs!

Until next time,

Scott

Property Insurance Reform to Affect South Florida Waterfront Real Estate Owners

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South Florida insurance ratesThe Business Journal recently had an interesting article about how the state’s reforms to Citizens Property Insurance Corp. will ultimately have a huge effect on those living on South Florida’s coasts.

For those of you who aren’t aware, Citizens Property Insurance Corp is a state-run insurer.

According to the recent legislation that the state government approved, protocol for Citizens Property has changed to help reduce enrollment, which officials say will make it less vulnerable during a storm.

This is sure to have a large impact on waterfront property owners all of South Florida!

What South Florida Home Owners Should Know About the Law Change

Under the recent change, residents will be limited to 10 percent annual premium hikes, although new enrollees would have to pass through a number of other insurers before choosing Citizens.

Experts are saying that because of this change, rates will increase overtime since homeowners would need to select private coverage within 15 percent of that offered by Citizens.

Eventually, more insurance providers will be attracted to the area, experts say.

As soon as the Citizens reform was passed, shares from the Fort Lauderdale-based Unviersity Insurance Holdings increased to its highest level in a year.

Universal Insurance Holdings is the largest private insurer in Florida.

Here’s how else the reform will affect circumstances in Florida: Some experts believe Citizens’ policy limit reductions will cause the maximum coverage to decrease from $2 million to $1 million, eventually falling to $700,000.

Some experts think the changes are coming at a bad time and may curb the housing market recovery in South Florida.

After all, investors may think twice if they’re forced to choose private insurance with higher premiums, experts say.

That could in turn call the housing market recovery to slow down or stop altogether.

What’s more, the reform forbids Citizens from covering new coastal construction after July 1, 2014. This may have a direct impact on such South Florida coastal communities.

Still, some experts say the changes to coastal construction coverage may actually end up benefiting the less expensive condominiums in Brickell and Downtown Miami.

South Florida Luxury Real Estate For Sale

What do you make of the recent legislative changes concerning Citizens Property Insurance Corp?

I am always happy to offer straight-forward advice and providing you with such useful home-selling resources as:

Until next time,

Scott

 

Hollywood, Florida Real Estate Spotlight on 1270 Hatteras Lane

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1270 Hateras_1Embrace the height of luxury living by checking out my newest South Florida real estate listing at 1270 Hatteras Lane in Hollywood, Florida!

This stunning 7,300-square-foot estate features 5 bedrooms and 7.5 bathrooms.

It’s currently priced at $1,995,000.

Luxury Living at Its Finest In Hollywood, Florida

Grandiose, immaculate, spacious, elegant: There are many ways to describe our latest listing on Hatteras Lane in Hollywood.

This property features two levels and seamlessly blends relaxed and formal spaces.

On the first level, prospective Hollywood home buyers will discover a covered entry, a two-story foyer, a bedroom suite, royal gold leaf detailed ceilings and a gourmet kitchen with adjoining breakfast room.

Other reception rooms on the ground level include: formal dining, living room, family room and a den with a wet bar.

Each room boasts an excellent attention to detail, which is why you’ll find such fine features as mosaic tiles, custom window treatments, decorative wall niches and more!

Upstairs, interested home buyers will encounter an ornate master bedroom with sitting room and his and her walk-in closets as well as other generous-sized bedrooms.

The grounds of this incredible Hollywood, Florida home offer freshly manicured gardens as well as an extended coral stone patio that includes a covered terrace and pool.

Other features on site include a 3-car garage and a laundry room.

Harbor Islands Estate!

1270 Hatteras Lane HollywoodContact me, Scott Patterson, to learn more about what the home at 1270 Hatteras Lane has to offer you and your family.

When you do, I’ll provide you with additional property information, help you schedule a showing and more!

Until next time,

Scott

South Florida Real Estate Market Showing Signs of Rebound and Growth

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South Florida real estateThere’s reason to celebrate a little for the South Florida real estate market – especially if you’re a home seller with a list price under 1 million.

From a decreasing supply of available homes for sale to rising sales prices – now is a great time to be a Seller  especially if your property is listed under 1 million today. It’s all about “Supply & Demand” which is very price sensitive and it’s very important to understand the market depends on the “List Price” of your property,  the higher the “List Price” the more inventory there is.

Below, I’m going to tell you some of the recent findings from a national index on the health of the South Florida housing market.

Selling South Florida Real Estate

According to a recent market report, South Florida home prices increased by more than 5 percent in July when compared to July 2011 (depending on price range).

That’s not all that has South Florida home sellers excited!

Here’s a look at some other good news that has recently come out about the market:

  • In August, Broward County had fewer than 5,000 single-family homes for sale.
  • When compared to a year ago, Miami-Dade & Broward County’s inventory has nearly been cut by 40-50%.
  • Meanwhile, Palm Beach County’s home inventory was about 6,648 in August, which is 43 percent less than it was a year ago.
  • In Miami, the average price per square foot of Miami area homes was $155, down 4.3 percent from the same period last year.
  • Between July and September, the median sales price for Miami homes was $155,000, up 6.9 percent from the year before.
  • Also during that period, the total number of Miami home sales decreased by 11.6 percent.
  • Broward County’s unemployment rate decreased from 8.1 percent to 7.8 percent between July and August. This is good news for home sellers because it means that more home buyers are in a position to purchase a home.
  • Broward County’s unemployment rate is now better than the national average, which is 8.1 percent.
  • Meanwhile, Palm Beach County’s unemployment rate also fell to 9.6 percent, albeit that’s still higher than state and national averages.
  • Interest rates have continued to fall, with the average 30-year fixed rate falling to a record-setting 3.4 percent recently. Such low rates are sure to attract additional home buyers.

Still, the recent article I read noted that there are some ways in which the housing market can improve even more.

For instance, inaccurate home appraisals have been blamed in recent years for delaying or costing real estate deals.

Experts are now calling for more accurate and consistent appraisals to aid in the housing market’s recovery.

Some are also saying that a slight increase in interest rates may increase home buyer demand since home buyers will feel a sense of urgency to invest before interest rates continue to climb.

Your Dedicated South Florida Real Estate Expert

The South Florida real estate market is a complicated industry with plenty of moving parts that may affect your experience as a home seller.

So for an optimal experience that results in you selling your home in a short amount of time and for a great price, please contact me, Scott Patterson.

I have years of experience working on the South Florida real estate market and I’ll be happy to provide you with invaluable advice, helpful home-selling resources and more!

Start today by requesting my free selling South Florida real estate eBook or a pre-listing package!

Until next time,

Scott

Report: Fewer Homes for Sale Available on the South Florida Real Estate Market

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South Florida real estate for saleAvailable homes for sale on the South Florida real estate market have decreased significantly year-over-year, according to a recent article I read.

The Palm Beach Post reported that the available inventory of homes for sale was down 34 percent in September when compared to September 2011.

This is fantastic news for South Florida home sellers in such communities as Golden Beach and Sunny Isles who are hoping to get a great price on their property.

South Florida Homes for Sale

Here’s an overview of recent activity on the South Florida real estate market, according to the real estate analysis firm Zillow:

  • High-priced homes for sale in Broward, Miami-Dade and Palm Beach counties were down 34.4 percent year-over-year.
  • Meanwhile, inventory of homes in the lower-priced tiers were down 33 percent.
  • In that same period, the national inventory of homes for sale has decreased by 19 percent.
  • In Palm Beach County, the inventory of single-family homes had fallen to less than five months in August.
  • When compared to August 2011, Palm Beach County’s home inventory has fallen 57 percent.

On the same day that Zillow released its report, the company RealtyTrac reported that Florida saw the most foreclosure activity in September.

Although some are concerned this may cause a drop in home prices as these foreclosed homes are sold, experts say that it’s more likely that these homes will more than likely be short-sold, which will help preserve prices.

List Your South Florida Home for Sale Today!

As I noted earlier, a drop in available homes for sale is a great sign for interested South Florida home sellers.

That’s because the low supply of available homes will spur even greater home buyer demand, which will ultimately drive up prices.

Thus, if you’re thinking about listing your South Florida property anytime soon, now is a great time to do so!

For expert tips on navigating the market as a South Florida home seller, please contact me, Scott Patterson.

I have years of experiencing helping home owners sell their properties in a number of local communities, including:

Until next time,

Scott

Sunny Isles Taxes Still Low, Despite Increase in Amenities

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Home owners living in Sunny Isles, Florida are enjoying the best of both worlds lately: low property taxes and a growing list of local amenities!

According to a recent article that I read, Sunny Isles Beach’s proposed budget may increase as much as 45 percent in the next year, and yet the property tax rate is expected to be 3 percent lower than the current one.

This is great news for those living in Sunny Isles or considering relocating to this beautiful South Florida community!

Sunny Isles, Florida Real Estate for Sale

Sunny Isles Beach city administrators recently proposed a $62.5 million budget for the upcoming fiscal year, which is about 45.3 percent greater than this year.

The increase in spending is related to 19 capital improvement projects that the city wants to pursue in the next year.

These projects total about $19 million and include the construction of the Gateway Park, which will be located west of Collins Avenue between the east- and westbound lanes of Sunny Isles Boulevard.

The park and the accompanying garage for visitors will be about $16 million.

Additional projects mentioned in the proposed budget include:

  • $1 million for an emergency bridge
  • $4 million for more classrooms at Norman S. Edelcup Sunny Isles Beach K-8 school
  • Various park restoration projects
  • Installation of security cameras at the Government Center and city parks

There are also several other additions in the budget, such as hiring more lifeguards for about $500,000.

Meanwhile, property taxes are not expected to increase as a result of the numerous capital improvement projects. In fact, they’re expected to drop!

Officials are proposing a tax rate of $2.80 for every $1,000 of taxable property, which is 3 percent less than the current rate of $2.8860.

City officials are getting the extra money for the budget mostly from such one-time revenue sources as land scales and transfers of development rights.

Your Sunny Isles, Florida Real Estate Expert

I hope you found the above information insightful as a current or future Sunny Isles Beach home owner.

For more information on how this proposed budget may affect you specifically as either a home owner or home buyer, please contact me, Scott Patterson.

And if you’re considering investing in Sunny Isles Beach real estate anytime soon, please be sure to check out my various home-buying resources online. These include:

Until next time,

Scott

 

South Florida Home Prices Continue to Rise!

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For the seventh straight month, home prices have continued to increase on the South Florida real estate market!

This marks the best home price showing since Fall 2006!

Continue reading to learn more about recent South Florida housing market activity to see how it may affect you as a home buyer!

South Florida Homes for Sale

Here’s what the most recent real estate market data revealed about South Florida home sales activity in June:

  • June was the 7th month in a row that saw year-over-year single family home price increases in Miami-Dade County
  • The median price for a single family Miami-Dade County home was $194,250, up 5 percent from the same month in 2011.
  • The median price for a single-family Broward County home was $215,000, up 8 percent from the year before.
  • The median price for a Miami-Dade condo was $160,000, up 34 percent year-over-year.
  • In Broward County, the median price for a condo was $85,900, up 14.5 percent from last year.
  • There were 906 single-family homes that closed in Miami Dade County, down 1.8 percent from last year.
  • And in Broward County, there were 1,310 single-family homes that closed, up 14.5 percent year-over-year.
  • In Miami Dade County, there were 1,368 condos that closed, up 4 percent from last year.
  • Meanwhile in Broward County, there were 1,485 condos that sold, down 4.4 percent year-over-year.

The data suggests that things are definitely looking up here in South Florida.

Still, analysts are saying it will likely take until 2019 for home sales prices in South Florida to match what they were in 2006.

Purchase Your Dream South Florida Home Today!

Prices definitely appear to be on an upward trend on the South Florida real estate market.

Thus, if you’re interested in getting buying a home or condo, then you may want to consider entering the market soon!

For expert guidance on navigating the South Florida housing market as a buyer, please contact me, Scott Patterson.

While you’re at it, you may also be interested in checking out some helpful online home-buying tools:

Until next time,
Scott

 

Conditions Are Ideal to Purchase a Broward or Miami Dade County Home for Sale

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The president of our company EWM Realty International recently released the latest housing market data for Broward and Miami-Dade counties.

The outlook is fantastic for interested South Florida home buyers, said Ron Shuffield.

Home sales have increased and the median home sales price is on the rise.

Continue reading to learn more about recent South Florida housing market activity to see how it compares to recent years.

Properties for Sale in Broward and Miami Dade Counties, Florida

Here’s a brief overview of what Mr. Shuffield reported about recent South Florida housing market activity:

  • In Miami-Dade County, the median price for a single-family home so far in 2012 is $200,000, up 12 percent when compared to the year before.
  • In 2011, the median price was about $150,000.
  • Also in Miami-Dade County, the median price for a condominium so far in 2012 is $150,000, up 21 percent when compared to the year before.
  • In Broward County, the median price for a single-family home in 2012 is $216,000, up 14 percent from 2011.
  • And the median price for a Broward County condominium in 2012 is $85,000, up 9 percent from 2011.

Mr. Shuffield explained that low sales prices, record low interest rates and affordable housing inventory at the foreclosure stage have driven the recent sales South Florida has seen.

As a result, available and affordable South Florida housing inventory is dwindling quickly.

For instance, in 2011, sales of foreclosed homes made up 65 percent of all home sales in South Florida. Now they represent 50 percent of all sales.

Your South Florida Real Estate Expert

Watch the video above to learn even more about why South Florida home buyers stand to gain a lot on the Miami-Dade and Broward County real estate markets.

And if you’re thinking about entering the South Florida housing market anytime soon, be sure to contact me, Scott Patterson.

I have years of experience successfully helping buyers find a home that meets their wants and needs as well as lifestyle in such markets as:

Until next time,

Scott

New Luxury Home Listing in Hallandale, Florida!

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It’s not every day that a home like the one at 490 Holiday Drive comes on the market!  So when one like this is listed on the South Florida real estate market, it’s a great opportunity for every South Florida home buyer out there!

Here’s a breakdown of what makes this Hallandale home for sale so amazing:

  • Waterfront
  • 6,200 square foot new construction home
  • No previous owners
  • 2 master suites – up and downstairs
  • 5 bedrooms, 7.5 baths
  • Wet bar
  • Billiard room
  • 4 car garage

As if that wasn’t fabulous enough, this Hallandale home also features a library, a formal dining room, an up and downstairs laundry room and spacious walk in closets!

Continue reading to learn more about this incredible South Florida home and why it’s not expected to stay on the Hallandale real estate market for long.

 Hallandale Home for Sale

The house on Holiday Drive in Hallandale is currently listed for $2,997,000, which is a bargain price when you consider all that comes with this home!

Not only is the home elegantly designed with fine fixtures that command attention, but it’s also located in a South Florida community that has a reputation for excellence.

This Broward County city offers its 37,000 residents access to fine cultural amenities, excellent public schools and more – right within its borders!

For instance, Fashion Row is a famous Hallandale district on N.E. First and Second Avenues that offers residents discounts for everything from jewelry to collectibles!

And just down the road at the Community and Culture Center for the performing arts, you can enjoy a performance by the Hallandale Beach Symphonic Pops Orchestra or another famous musical act.

For those residents interested in making a day trip elsewhere, they’ll be pleased to find that Hallandale is also conveniently close to plenty of regional attractions, including the Port Everglades facility, Miami and Fort Lauderdale.

As you can see, the lucky home buyer who ultimately invests in the home on Holiday Drive will get more than their money’s worth.  A sophisticated home, a beautiful city and incredible community amenities.

 
Your South Florida Real Estate Experts

If you think that the new listing at 409 Holiday Drive may just be your dream South Florida home, then contact me, Scott Patterson, today!

As your South Florida real estate expert, I’ll be happy to answer any questions you might have about this home and even provide you with a personal tour.

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