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Category Archives: Aventura

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.

More Groups Are Investing in Broward County, Florida Luxury Condominiums

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Broward County properties have become an increasingly hot commodity in recent months, as evident by two recent bulk condo deals in the South Florida county.

Miami-based Sonata Grand LLC recently purchased 22 units at Sonata Beach Club for $9.7 million in Pompano Beach, according to the Sun-Sentinel.

And a couple of weeks ago, Village East Investment LLC purchased 68 units at Village East in Fort Lauderdale for $7.65 million.

These deals are the latest in a string of multi-million dollar investments in the area. Since 2008, there have been 71 bulk deals in Broward, Miami-Dade and Palm Beach counties totally more than $2.1 billion.

Many of these investors end up turning around and selling these units to international buyers, many of whom are purchasing with cash.

This was the case of Aventura-based McKafka Development Group, which purchased 64 units at Las Olas by the River in July for $8.7 million.  Since then, the company has sold 50 of the units to international buyers, many of whom have paid cash.

Buying a South Florida Condo for Sale

As an experienced South Florida REALTOR, I’ve worked with dozens of South Florida buyers who have purchased property at some of the most desirable luxury condominium communities in the area.

I take pride in representing South Florida buyer interests and helping to get home buyers the best deal possible on their South Florida condominium.

If you’re interested in learning more about buying a luxury condominium in Aventura, Golden Beach, Hallandale and other neighboring communities, then contact me, Scott Patterson, your South Florida Real Estate Expert.

I also suggest you take some time browsing some of these South Florida condominium communities, including:

Brazilian Home Buyers Positively Stimulating the South Florida Real Estate Market

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Brazilians are visiting and investing in South Floridain record numbers, according to a recent article in The Miami Herald.The South Florida newspaper reported that not only are Brazilians storming the luxury South Florida real estate market, but they’re also investing in local businesses.

According to the article, the recent surge in Brazilian visitors and Brazilian home buyers in the South Florida real estate market is largely credited to Brazil’s booming economy.  In fact, the country’s economy is expected to become the fifth largest in the world by 2016.

In addition, Brazil’s currency is stronger than the dollar, which makes investing in South Florida all the more appealing for Brazilian home buyers.

More Signs that Brazilians Are Making a Huge Impact on South Florida Real Estate

Everywhere you look in South Florida, there are signs that the area’s relationship with Brazilian home buyers is becoming increasingly paramount to the local economy.  According to the Miami Herald:
  • American Airlines provides 52 flights to Brazil a week from Miami International Airport.
  • An estimated 500,000 Brazilians visited Miami-Dade in 2010, spending more than $1 billion locally.
  • The local tourism bureau has increasingly published guides, maps and other tourist materials in Portuguese.
  • The number of Brazilians visiting Broward County last year jumped by 50 percent to about 300,000 visitors.
  • After Canada, Brazil is the second most important foreign market in Broward County.
  • There are an estimated 250,000 to 300,000 Brazilians living in Florida, according to the Brazilian Consulate in Miami.  The majority of them live in Broward and Miami-Dade counties, as well as Orlando.
Many of these Brazilian home buyers are settling in the Sunny Isles and Miami areas in high-end, waterfront condominiums and properties, the article reported.

Luxury  Condominiums and Properties Available Now in Aventura, Florida and other South Florida Communities

As a seasoned South Florida REALTOR, I understand the importance of remaining informed about the South Florida real estate market in order to better serveSouth Florida home buyers.

Whether you’re an international home buyer from Brazil or a native Floridian who is interested in relocating within the state, I can provide you with expert real estate advice and cutting-edge home buyer tools, including:

I also suggest you browse all the available listings in some of South Florida’s most beautiful communities, including Aventura, Hallandale, Hollywood and Golden Beach.

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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High End Real Estate Sales Making a Comeback in the Aventura Florida Real Estate Market

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A new record was recently broken in the South Florida real estate market when I closed on 3903 Island Estates Drive in Aventura in December, it became the highest priced sale on an Aventura single family home since 2006 and the 2nd highest priced sale for a single family home ever.

This gorgeous 6 bedroom, 8.5 bathroom new construction home sold for $4,350,000 in December, it was a cash transaction.

Luxury Home Sales Picking Up in South Florida

Our recent closing on 3903 Island Estates Drive illustrates a larger trend in the Aventura real estate market.  Wealthy home buyers are returning to the luxury housing market en masse.  Why? Because this is the perfect environment for buying a luxury South Florida property:

  • A stronger stock market has boosted home buyer confidence
  • Low interest rates have created a buyer’s market in Aventura, Florida
  • Signs abound that prices for luxury properties have bottomed out , giving South Florida home buyers yet another reason to enter the market.

All of this has led to an increase in home and condo sales in Miami-Dade and Palm Beach counties.  In December, there were at least 5 condo sales in Palm Beach County that sold for more than $2 million.  Twenty-five houses also sold for more than $2 million in Palm Beach County.

In Miami-Dade County, at least 10 homes and 15 condos sold for more than $2 million in December.

The spike in real estate activity can be largely attributed to foreign buyers such as Canadians and Brazilians wanting to take advantage of the low prices on condos, said Ron Shuffield, president of our company, Esslinger-Wooten-Maxwell, Inc. Realtors. That factor definitely played a role in the recent sale of 3903 Island Estates Drive: the buyer was Brazillian.

Buying an Aventura, Florida Property For Sale

Given the allure of buying a high-end property in Aventura, it’s easy to understand why the inventory of luxury properties for sale is falling.  Contact me, Scott Patterson, today to learn about available listings in Aventura, as well as our other beautiful South Forida communities, such as Hallandale and Golden Beach.

2010 Real Estate Year End Review Video

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The year 2010 showed positive signs of growth in the South Florida real estate market.  We sold twice as many homes in 2010 than we did two and a half years ago, according to Ron Shuffield, president of our company, Esslinger-Wooten-Maxwell, Inc. Realtors

What does that mean for the Miami Dade and Broward County home buyer?  Lower list prices on South Florida homes for sale coupled with record low interest rates has created an amazing South Florida home buyers market.  And the value on these South Florida homes is only going to rise.

Learn more about why our company’s president believes values on Florida homes will continue to increase through 2011 by watching the video below.

If you’re interested in learning more about South Florida real estate, contact me, Scott Patterson, your South Florida real estate expert, today.  I’ll let you know about all of the available listings in the beautiful communities of  Aventura, Golden Isles, Golden Beach, Hollywood Lakes, Harbor Islands and more!

New Aventura Arts & Cultural Center Opens in Aventura Florida

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For years, South Florida residents had to travel deep into downtown Miami’s core before they found a cultural or performing arts venue.  But those days are over!   With the recent opening of the new Aventura Arts & Cultural Center, residents are just a quick drive from a venue that has proven to have cultural clout in the surrounding community.

The  Arts & Cultural Center  is one of the many ways that Aventura officials are improving quality of life for the residents of this South Florida city.

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Panoramic Splendor From Williams Island Tower Suite In Aventura

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Since 1985 when the first condo tower was built until today, Williams Island has been known for it’s excellent location and lifestyle of unusual luxury.  From the tennis center, fitness center, marina, the Williams Island spa and Island Club restaurant, every amenity can be found on the Island.

Villa Marina located at 7000 Island Blvd. Tower Suite 3004

Features:

  • 3 Bedrooms
  • 3 Baths
  • 2,690 sq.ft.
  • Ocean, Intracoastal & City views
  • Private Elevator
  • Completely remodeled unit
  • Contemporary European design
  • Scavolini Kitchen
  • Master Bath with infinity tub and Steam shower
  • Marble, oak and stone floors from Italy

*Offered at $1,249,000 (poolside 300 square foot cabana offered for $90,000)