South Florida Real Estate Market Has Finally Bottomed Out, Experts Say!

I recently read an article in the Sun Sentinel that declared that the South Florida housing market has finally hit bottom.

According to Zillow.com, which is a Seattle-based real estate analysis site, home values in Miami-Dade, Broward and Palm Beach counties are now beginning to increase after six years of steady decline.

Continue reading to learn more about what Zillow said this means for the greater South Florida real estate market – as well as interested home buyers like you!

Properties for Sale in Aventura, Hallandale and other South Florida Communities

Here’s the most recent data that Zillow released about the local housing market:

  • The median value for homes in all three South Florida counties is $141,300, up 1 percent when compared to 2011.
  • Over all home prices are expected to increase by 6 percent during the next year, which would make South Florida a top-performing housing market in the nation.
  • Home sales prices are now beginning to resemble those prices seen in 2002 in South Florida.
  • Home values in 21 of 32 Broward Cities – including Fort Lauderdale – increased between 2011 and 2012.
  • Meanwhile, 17 communities in Palm Beach County saw higher home values, year-over-year.
  • Single-family home inventories in Broward County have decreased by 48 percent, year-over-year.
  • In Palm Beach County, inventories have decreased by 38 percent.
  • More and more homes are receiving multiple offers, many of which are above the original asking price.

All of this data suggests that home prices have fallen as much as they’re going to fall in South Florida before they begin to rise again.

And while some analysts are still skeptical that the South Florida housing market has truly bottomed out, nearly everybody agrees that the market will not likely see prices drop very much more if it hasn’t bottomed out yet.

Thus, for those who were interested in making an incredible investment on the South Florida real estate market, now is the ideal time to do so!

After all, once a market has bottomed out, the only direction home prices are going to go is up!

Your South Florida REALTOR!

If you’re interested in entering the South Florida housing market as a home buyer any time soon, please contact me, Scott Patterson.

As a trusted South Florida REALTOR, I have experience helping home buyers find their dream homes on a number of area housing markets, including:

Thus, I’d be happy to help you at every stage of the home buying process – from home showings to purchase offers to the final closing!

Until next time,

Scott

 

South Florida Home Inventory is Dwindling as More Buyers Enter the Market

Home sellers throughout the country – including in South Florida – are expecting home prices to rise soon since the number of available homes for sale continues to decrease, according to a recent Bloomberg article.

The article goes on to say that home inventories are near lows that were last seen in 2005 and more home sellers are needed on the market.

Continue reading to learn more about this developing trend to discover how it may affect you as a South Florida home buyer!

Properties for Sale in Broward County, Florida

Here are some of the highlights of the recent Bloomberg article I read:

  • National home listings dropped to 2.37 percent in March, a decrease of 22 percent when compared to March 2011.
  • Currently, there is a 6.3 month supply of homes on the national housing market
  • In some parts of the country, the supply of homes fell even further. For instance, some markets had less than a three-month supply at some point earlier this year.
  • Existing home sales from January to March 2012 were the highest first quarter on record since 2007.
  • Meanwhile, the median sales price in 146 metro areas fell to $158,100, down 0.4 percent year-over-year.
  • Nationally, housing affordability is at an all time high. One index recently showed that a family with a median income of nearly $61,000 would be able to afford a $325,000 home – more than double the median price of all homes in the country right now.
  • During the first quarter of 2012, national foreclosure filings fell to their lowest levels since 2007.
  • Meanwhile, re-sales of Fannie Mae and Freddie Mac foreclosures fell to 77,104 homes in the first quarter of 2012, down 18 percent year-over-year.
  • The national inventory of new homes has also fallen – to 144,000 in March. That figure is actually the smallest number of new construction homes on record since 1963.

Here’s what the Bloomberg article specifically noted about the South Florida real estate market:

  • Florida’s median home prices are beginning to rise as foreclosed home transactions have declined.
  • In Miami-Dade County, the number of listings in April fell to a 5.7-month supply, down 35 percent year-over-year.
  •  In Broward County, the number of listings in April fell to a 4.2-month supply, down 31 percent year-over-year.
  • Also in Broward County, condo prices have increased to $75 a square foot, up 10 percent year-over-year.
  • Meanwhile, home prices have increased to $80 a square foot in Broward County, up 2.6 percent year-over-year.

Florida real estate analysts are crediting the declining home inventory to the fact that home buyers are flooding the market looking for great deals as the South Florida housing market bottoms out.

But as more home buyers snatch up available homes for sale, home prices are expected to rise as demand starts to exceed the supply, analysts say.

Thus, now is a great time to invest in a South Florida property for sale.

Purchase a South Florida Home for Sale Today!

There are plenty of reasons to want to invest in a South Florida property for sale. From increasing rental rates to record low interest rates – home ownership hasn’t looked this appealing in a while!

Thus, if you’re interested in owning your own South Florida home, contact me, Scott Patterson, today!

As an experienced REALTOR in Broward and Miami-Dade counties, I’ll be more than happy to assist you at every stage of the home-buying process.

Interested in starting your South Florida home search immediately? Then please be sure to check out some of the helpful home-buying tools I offer online, such as:

Until next time,

Scott

Search For Your Next South Florida Home for Sale With This Brand New Tool!

Thinking about investing in South Florida real estate in Broward or Miami-Dade County anytime soon? Finding your next dream home has never been easier thanks to some new tools I recently added on my South Florida real estate website!

With my user-friendly search tools, you’ll be able to narrow down the list of all available listings in South Florida to specific neighborhoods that interest you.

Continue reading to find out more!

South Florida Properties for Sale

Here in South Florida, there are plenty of fabulous residential communities from which to choose, each of which offer their own unique residential living experience.

Now, you can search for available listings in specific condominium communities with the help of my easy-to-use search tools.

Here are some of the pre-defined searches I’m now offering to interested South Florida home buyers:

Once you’ve done these initial searches, you’ll be able to narrow down your options even more to fit your square footage, number of bedrooms and other home-buying preferences.

Your South Florida Real Estate Expert

As your South Florida REALTOR for life, I am always looking for ways in which to make the home buying process easier for interested home buyers like you.

Specifically, I help home buyers navigating the following markets:

For additional tips and tools on how to effectively navigate the South Florida real estate market, please don’t hesitate to contact me, Scott Patterson, today!

Until next time,

Scott

 

South Florida Real Estate Summer 2011 Market Update

The median sales price for South Florida homes has steadily increased since the start of the year , according to Ron Shuffield, president of our company, Esslinger-Wooten-Maxwell, Inc. Realtors

Here’s some of the recent news that Ron shared with us about the South Florida real estate market:

  • Between January and May of this year, the median sales price in Miami-Dade County rose from $150,000 to $180,000.
  • Between January and May of this year, the median sales price in Broward County rose from $165,000 to $190,000
  • 61 percent of our company’s sales are for either a short sale or a foreclosure.  However, that is down from 67 percent just four months ago.

Ron said he is “cautiously optimistic” about the most recent trends on the South Florida real estate market.

As the inventory of South Florida homes for sale continues to dwindle, prices are expected to increase, he said.

Learn more about the current state of the South Florida real estate market by watching the below video from our company’s president.

Navigating the South Florida Real Estate Market

 

If you’re interested in 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.

Whether you’re an interested South Florida home buyer or a South Florida home seller, I’ll be happy to answer any questions you might have as well as provide you with a number of helpful South Florida real estate resources to help make navigating the market easier.

Until next time,

Scott

South Florida Real Estate Market Update for First Quarter, 2011

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

Exclusive Golden Beach Home Sells for Record Price in South Florida

Pleased to announce I just “Sold and Closed” 419 Centre Island in Golden Beach Florida 33160 for a record sales price last week.

Here’s a snapshot of this successful South Florida real estate sale, which closed last Friday:

  • Sales Price: $6,300,000
  • Close Date: April 14, 2011
  • International Buyer from Brazil
  • Year Built: 2000
  • Size: 5 bedrooms, 6 bathrooms
  • Square Footage: 9,663 square feet
  • Fact: Highest sales price for an Intracoastal waterfront home in Golden Beach since 2007.

 

Relocating to Golden Beach, Florida

Situated on the Miami-Dade and Broward County line, Golden Beach Florida is an exclusive place to call home.

Not only is this elite community a lot more tranquil than the bustling city of Miami, but it’s also within minutes of such fine recreational amenities and regional attractions as:

  • The Golden Beach “Private Beach Pavilion”
  • The Shoppes of Bal Harbour
  • Aventura Mall
  • John Tweddle Park
  • Miami International Airport
  • Fort Lauderdale-Hollywood International Airport
  • South Beach
  • And more!
Golden Beach is also considered one of the most exclusive communities in South Florida.  With only 370 exclusive single-family luxury homes, there’s a select few that are privileged enough to have a Golden Beach address.

 

Search Available Listings in the Golden Beach Area Today!

If you would like to learn more about available listings in the Golden Beach area, then contact me, Scott Patterson, your South Florida real estate expert.

While you’re at it, feel free to check out some of the other exquisite communities near Golden Beach, including:

In each one of these communities, you’ll find top-notch single-family and condominium living options.

And with my brand new South Florida real estate web site, you can now search by price range. It’s just one of the many services we provide to South Florida home buyers to help make navigating the South Florida real estate market easier.

Until next time,

Scott

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

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

2010 Golden Beach Florida Real Estate Market Report

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.

Continue reading “2010 Golden Beach Florida Real Estate Market Report”

Newly Listed Elegant Golden Beach Waterfront Estate

Sparkling vistas create the ideal setting for this extraordinary estate on the  Intracoastal waterway in Golden Beach that I just listed. The amenity-rich estate epitomizes lavish living in South Florida.

Offered at $7,495,000, some of the appointments include:

* Intracoastal views
* 5 Bedrooms
* 6.5 Baths
* Over 10,700 sq.ft.
* Award winning home theater
* Library
* Formal dining, living and family room
* Marble pool deck and new solid concrete dock
* Lutron and Crestron systems
* Electronic gate entry
* Private beach for Golden Beach Residents

Desirable for it’s location as well as its scenery, the exclusive Golden Beach community offers endless opportunities for nearby shopping and entertainment.