All posts by Scott Patterson

Incredible Piece of Hollywood, Florida Real Estate Available Now!

access_timeJuly 17, 2014personScott Patterson

Are you a South Florida home buyer looking for the ideal piece of land to purchase so that you can build your perfect home?

If so, then I recommend you check out this piece of Hollywood Florida real estate.

Located at 1018 S Northlake Drive, this property is a blank canvas just waiting for the right buyer to come along to build an unforgettable home on an already amazing piece of land.

This Piece of Hollywood Real Estate Has Much to Offer!

This half acre lot – which totals 85 feet by 232 feet – features a new seawall as well as a lovely dock, meaning that you’ll be able to keep personal watercraft at your home.

Located in the eclectic neighborhood of Hollywood Lakes, this community is a great find on the Hollywood real estate market!

And because of its location on S. Northlake, this property also provide residents with ample watersport recreational options.

What’s more, this generous-sized lake is known for its stunning water views as well as the tranquility it offers residents who live along its edge.

Have any boaters in your family? They’ll be thrilled to learn that Northlake actually connects with the Intracoastal Waterway, which then feeds into the Atlantic Ocean – all without any fixed bridges obstructing the way!

For those who prefer different types of recreational amenities, there are also a number of other attractions located within the vicinity, such as Hollywood Beach, dining and shopping attractions and Young Circle.

Plus, there is always something going on in nearby Fort Lauderdale and Miami!

Your Dedicated South Florida REALTOR®

If you would like to learn more about this beautiful property on the South Florida real estate market, please make sure to contact me, Scott Patterson, today.

I would love to assist you by answering any lingering questions you may have and also scheduling a showing for you.

For now, make sure to check out the aerial video I made of this property above!

Until next time,

Scott

The Point of Aventura Expected to Get Large Scale Renovations Soon

access_timeJuly 14, 2014personScott Patterson

Talk about a major overhaul! The Point of Aventura, a luxury condominium with a track record for excellence, is about to receive some major renovations that will make it even more magnificent.

From the salon to the yoga studio, lobby to the garden room – there won’t be an inch of The Point that isn’t improved during this major renovation.

In the end, the residents of this community will be restored to a level of prestige and comfort that they’ve come to expect and deserve.

Flurry of New Luxury Condos Is The Driving Force Behind Renovations

According to the above video, The Point’s Master Board passed the large scale renovation project during a recent meeting.

A major driving force behind the renovations is the fact that the South Florida real estate market is seeing a flurry of new construction activity in the luxury condominium market.

This is putting pressure on existing condominiums to undergo large scale renovations in order to keep pace with area competition. For instance, the nearby Williams Island recently underwent a $5 million renovation of its spa and fitness center.

The results have been nothing short of incredible, with an overwhelmingly positive response from the residents and even a boost in property sales.

Now it’s The Point’s turn to undergo a major renovation that will significantly improve quality of life at this luxury South Florida condo.

Here is a breakdown of the renovations that are expected for the various sections of the building:

The Salon

More square footage
Elevated ceilings with improved lighting
Resort level equipment
New retail area for products
Appropriate ventilation and exhaust to enhance the experience

The Spa

New sauna and steam equipment
Enhanced lighting throughout
Fully functional massage treatment rooms
Redesign of various amenities for improved layout

The Lobby

Modernized finishes
New reception area that’s strategically placed for better visual monitoring
Upgraded grand staircase
New multipurpose room

Garden Room

Upgraded lighting
Improved ceiling design for elegance and improved acoustics
New audio visual system with drop down projection screen
Multi-zone temperature and volume control

Upper Level

An independent exterior access point to public hallways that will prevent further interruptions in the garden room

Throughout the Building

Expanded and renovated yoga room
New multipurpose room
Dedicated Pilates room

Wow! That’s an lengthy list of improvements coming to The Point

I personally can’t wait to see how it all comes together.

It’s encouraging to see that community leaders are dedicated to improving quality of life for current and future residents.

What’s more, these luxury upgrades are sure to result in the skyrocketing popularity of this condo on the Aventura real estate market.

Now is An Ideal Time to Relocate to The Point Condos in Aventura

Be one of the first residents to enjoy all of these fabulous upgrades. Purchase a luxury South Florida condominium at The Point today!

Contact me, Scott Patterson, your South Florida real estate expert, now and I’ll be happy to assist you by answering all of your questions about this community as well as telling you about available listings here.

Until next time,

Scott

Report: Almost Half Of U.S. (and South Florida) Real Estate Transactions Are All Cash

access_timeJuly 10, 2014personScott Patterson

It’s a trend I have seen coming for a while here on the South Florida real estate market: all cash real estate deals are on the rise nationally.

According to recent data from RealtyTrac, all-cash deals represented 43 percent of all home sales during the first three months of 2014.

That’s a whopping 19 percent higher than it was a year earlier. And it’s also the highest level ever reported since RealtyTrac started collecting data in 2011.

South Florida Real Estate Market Mimics National Trends

Here’s what else RealtyTrac found about national real estate trends related to all-cash deals:

Cash home buyers paid an average of $207,668 for homes during the first quarter.
That figure is an average of 13% less than the properties’ average estimated value
Cape Coral, Fla., had the highest level of all-cash deals at almost 74 percent during the first quarter
The top five was rounded out by four other Florida cities: Miami (67 percent), Sarasota (65 percent), Palm Bay (64 percent) and Lakeland (62 percent).
Miami, New York, and California are attracting the most foreign buyers, most of whom are paying with all cash
In fact, in Miami, Latin Americans are putting down deposits that total 50% or more of the list price.

Experts credit these trends to these two main factors:

Stricter lending standards have made it more difficult to get a mortgage
Intense buyer competition means all-cash buyers have the upper hand.

Your Dedicated South Florida Realtor®

As I previously mentioned, I’ve been watching this trend grow for months on the South Florida real estate market. All-cash deals are definitely becoming increasingly common on the market.

Bottom line is that if you’re able to purchase a home with all cash, it’s a good route to take, especially if you’re in a competitive market like South Florida and you’re trying to secure the home of your dreams.

It’s an interesting real estate trend and I will definitely keep you posted as more develops on that front.

Regardless of how you want to finance your next home, however, I would love the opportunity to help you with your next home buying experience.

So contact me, Scott Patterson, today. I would be happy to answer any questions you may have as well as tell you about available listings in such communities as

Aventura
Hallandale
Sunny Isles

Until next time,

Scott

South Florida REALTOR® Once Again Joins Elite Real Estate Ranks

access_timeJune 2, 2014personScott Patterson

It’s always exciting when one is recognized for one’s work. It really reinforces and energizes you to keep doing what you do best!

Recently, I was recognized for my outstanding work on the South Florida real estate market.

In fact, I was again ranked as a Top 10 Agent across our company, EWM Realty International. That’s quite an honor, especially given that there are nearly 800 incredible agents working within our real estate company.

I am so honored to be recognized for this distinction.

On The South Florida Real Estate Market, I Get Results for You!

Ron Shuffield, the president of our company, recently spotlighted the company’s Top Achievers for 2013. This year, I was part of this elite group of real estate experts!

Perhaps you saw my picture in the Sun Sentinel or the Miami Herald, recognizing me and others as a member of the 2013 EWM Chairman’s Club.

“Thank you for all the hard work,” Ron Shuffield told us. “ I know the commitment that it takes to reach these highest levels, which makes me appreciate your commitment even more.”

2013 Accomplishments for Scott Patterson in South Florida

No matter which statistic you consider, one thing is clear: I get results on the local housing market! Just check out these figures on my 2013 sales activity:

$43 Million of sales
#8 Producer Company wide (Chairman’s Club Diamond Level)
Ranked #1 in Aventura
Ranked #1 in Broward
Ranked #8 in Miami-Dade

How I Help You on the Local Housing Market

So what exactly does it take to be recognized as a top performing REALTOR® in one of the most competitive real estate companies in the country?

First, I am dedicated to my clients. I work tirelessly to get the results they want on the market, whether it’s finding a luxury home or selling their current South Florida home.

Second, I have years of experience assisting South Florida home buyers and home sellers navigate the market. This familiarity with the area enables me to provide sage advice to all my national and international clients in such markets as:

Aventura, Florida
Golden Beach, Florida
Bal Harbour, Florida
Hollywood, Florida
Hallandale, Florida
Sunny Isles, Florida

Finally, I offer valuable and user-friendly real estate tools that further make the home buying and home selling process seamless for you! These include:

State of the Marketing throughout the world
Relationships and Aligning my Sellers and Buyers with the right Attorneys and financial resources
Buyer and Seller FAQs
Many resources over the years for both my Sellers and Buyers

Connect With Me Today! I’d Love to Represent You on the South Florida Housing Market!

Why work with an average real estate agent when you can work with a top-performing South Florida REALTOR® who has a track record for getting results!

Contact me, Scott Patterson, today to discover how I can help make your South Florida real estate dream a reality!

Until next time,

Scott

Build The Home of Your Dreams in Hollywood, Florida

access_timeFebruary 7, 2014personScott Patterson

Interested South Florida home buyers navigating the market have the rare opportunity to build the home of their dreams in Hollywood, Florida.

This is a unique and rare large waterfront lot, located at 1010 S. Northlake Drive, in the Hollywood Lakes section, this property is 85-feet-by-228-feet, which equates to about a half acre.

If you’re interested in living in South Florida but want the freedom to build your own home, this may be the perfect opportunity for you!

Hollywood, FL Real Estate For Sale

This lot in Hollywood Florida already has plenty to offer interested buyers.

This property features a new seawall and dock. It also boasts a desirable location with Hollywood Lakes, which is a popular and idyllic neighborhood.

What’s more, this property is located on S. Northlake, giving residents access to a sizeable lake that offers expansive water views. It’s great for privacy as well!

And here’s another bonus to living on Northlake: this body of water leads directly to the Intracoastal Waterway, with continuing access to the Atlantic Ocean. And with no fixed bridges along the way, it will be smooth sailing for you if you decide to spend an afternoon on the water.

Centrally-located in Hollywood, this property is also conveniently situated between all of the amenities that Fort Lauderdale and Miami have to offer.

Other amenities within walking distance include:

Hollywood Beach
Young Circle
Dining amenities
Shopping attractions
And more!

Plus, Hollywood-Fort Lauderdale International Airport is just a short distance away!

Helping You Invest in South Florida

If you’re interested in purchasing this beautiful lot in Hollywood, please make sure to contact me, Scott Patterson, your dedicated South Florida REALTOR®, today.

I’d love to answer any questions you may have as well as help you schedule a showing of the property.

Get a sneak peek now by checking out my aerial video of the property above!

Until next time,

Scott

3 Reasons Why Miami Beach Is Enjoying Plenty of Overseas Money

access_timeFebruary 5, 2014personScott Patterson

As I noted in one of my recent blogs, the South Florida real estate market is enjoying quite a healthy boom of new construction condominium projects.

And these projects are being spearheaded by interested foreign investors.

Why are foreign nationals deciding to invest their money here in South Florida? Here are the top three reasons:

Their foreign currency is stronger than the U.S. dollar, which means a greater return on investment for them
The South Florida real estate market is seen as a luxury destination for people all over the world
South Florida real estate is so depreciated in value from the last few years that it magnifies the kind of return on investment these foreign nationals can get.

More Details on the Foreign Investment Boom in South Florida

It hasn’t been the easiest last few years for the South Florida real estate market, as detailed by a recent article I was reading. For instance, condo values dropped a staggering 60 percent from their peak, according to the Miami Association of Realtors. And available credit for interested home buyers was hard to come by.

But there’s a Renaissance of sorts taking place on the South Florida real estate market. It’s breathing new life in to the market, and a lot of that is thanks to foreign investors.

Here’s a look at recent activity in the condominium market:

There are 118 condo towers proposed in the Miami area, which includes 35 under construction.
The 41 towers that are proposed for downtown will add 12,100 new units. Although that’s a departure from the 22,000 units that were built between 2003 to 2008, it’s still a remarkable improvement!
And recently, the Commerce Department released data that showed nationwide residential building permits increased to their strongest pace since June 2008.
The department further reported that about one in three building permits issued this year has been for the large multifamily communities.
In the South Florida region (which includes Miami-Dade, Broward and Palm Beach counties), about 70% of residential construction permits issued through October were for multifamily units.
Meanwhile, about 85% to 90% of new-construction buyers are foreign, mostly from Latin America.

Experts are saying that developers have been encouraged by strong international demand that usually results in cash-financing. This model is viewed as safer than bank loans.

Consequently, a lot of developers are increasingly relying on buyers’ deposits to fund construction, versus debt from banks.

Experts are also saying that Miami is a microcosm that is being reflected on that national housing market. In truth, more markets are turning to multi-family buildings like the ones we’re seeing in South Florida because it was the single-family home industry that dominated during the bubble years before the market crash.

Although it’s true that most national construction is still single-family homes, the uptick in recent construction activity has been dominated by multi-family homes.

Buying and Selling South Florida Real Estate

It is definitely an exciting time to be navigating the South Florida real estate market, and that’s thanks in large part to all the interest we’ve been receiving from foreign investors!

If you’re thinking about buying or selling a South Florida property anytime soon, it would benefit you to work with a REALTOR® that has a firm understanding of the local housing market and its dynamics.

So contact me, Scott Patterson, today! I have years of experience working in this area and have helped scores of South Florida residents just like you!

Until next time,

Scott

How the 3.8% Real Estate Tax for South Florida and the U.S. Really Works

access_timeFebruary 3, 2014personScott Patterson

Recently, the National Association of REALTORS® released a helpful statement about how health care reform does and does not affect real estate taxes.

Evidently, rumors have been circulating for months that the law contains a 3.8 percent tax on real estate.

In fact, the NAR has said that the tax does not target real estate and will likely not affect most home sales. That’s because this tax will only affect high-income households who experience substantial financial gains after an asset sale (including a home sale).

The National Association of REALTORS® went on to say that the tax would likely only affect 2 to 3 percent of home sellers.

Dispelling Rumors on the Real Estate Tax

Here’s what else the National Association of REALTORS® wants you to know about health care reform and how it affect real estate taxes:

The tax will affect few home sellers because there are a lot of criteria that must be met first for the tax to apply

First, the home sale gain on the principal residence must be greater than the $250,000 to $500,000 capital gains exclusion that’s in effect today. Please note, this says gain and not sales amount. Thus, it’s a pretty substantial profit margin.
Second, those homes that do see a gain of more than $250,000 to $500,000 (specifically $250,000 for single filers and $500,000 for joint filers) need only count the amount above the exclusion into the tax calculation. This would still only apply to high income households, which is defined by law as single people earning $200,000 a year. For joint filers, that figure is $250,000 a year.
Once that value is plugged in and if it’s seen as taxable, then the amount could be subject to a 3.8 percent tax.
Although the tax took effect in 2013, any impact on taxes would not happen until 2014 because the tax filer would do the calculation in 2014 for the 2013 tax year.
Finally, because this is not considered a tax on a real estate sale but rather on a capital gain, it would not be calculated at the time of closing. Rather it would be calculated at the time the individual files his or her taxes.

Of course, it’s important to check with a professional tax preparer about your specific situation but this is generally how the tax works.

Your Dedicated South Florida REALTOR®

Hopefully you now have some added clarity on what the health care reform tax on real estate does and doesn’t’ do.

For more information on this recent change as well as some perspective on how it may affect you as a South Florida home buyer or seller, make sure to contact me, Scott Patterson.

I will be more than happy to assist you with all of your South Florida real estate needs in such communities as:

Aventura, Florida
Hallandale, Florida
Sunny Isles, Florida
And others!

Until next time,

Scott

Long Awaited Demolition Day is Here! 1010 S. Northlake Drive in Hollywood

access_timeJanuary 10, 2014personScott Patterson

The residents in Hollywood are all rejoicing in the demolition at 1010 S. Northlake Drive. This property was dangerous, a nuisance, and above all a detractor from property values in the area. The developer and builder have arduously advocated for this demolition for quite some time and it will free up a waterfront lot, permitting a new home to be built. This land is coveted and the plot is large enough to accommodate a home of considerable size. For more information on this land and for information on vacant land in Hollywood, contact me today.

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

access_timeDecember 11, 2013personScott Patterson

I 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!

If 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

EWM Ranks #1 in Overall Sales of Luxury Homes in Miami-Dade County

access_timeDecember 9, 2013personScott Patterson

I am thrilled to report to you that EWM Realty, has won another accolade here on the South Florida real estate market.

Evidently, EWM ranks #1 in total overall sales of million-dollar plus homes in Miami-Dade County.

This is an incredible honor, especially given how competitive the luxury home market can be here in South Florida!

For Quality South Florida Real Estate Services, Contact EWM

Here’s what else you should know about EWM’s success on the South Florida real estate market, according to data from the Southeast Florida Regional Multiple Listing Service:

As of the period ending August 31, EWM had 41 transactions in excess of one million dollars, compared with 31 and 18 respectively for the second and third ranked brokerage.
EWM was #1 for the fiscal year August 2012-August 2013, with 429 sales in excess of one million dollars, compared to 336 and 283 for the second-and third-ranked brokerages.
EWM has been a leading Realtor this year in the pre-sale of Miami-Dade’s newest luxury condos, most of which will be completed over the next 12 to 24 months.
EWM associates have closed an average of more than one single-family home or condominium residence every 24 hours during this past year.”

“It is an astounding figure,” said EWM President & CEO Ron Shuffield. “We are extremely proud of our associates and management and congratulate each one for the high-level of service that they are providing to our clients.”

Your Dedicated South Florida REALTOR®

As you may know, EWM Realty is the exclusive affiliate of Christie’s International Real Estate for Miami-Dade and Broward counties, as well as a Berkshire Hathaway affiliate, which provides EWM access to thousands of real estate professionals across the globe.

Because of these important connections, EWM offers unbeatable service to home buyers and home sellers navigating the South Florida real estate market.

Contact me, Scott Patterson, today to see how I can help you!

Until next time,

Scott