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Category Archives: Golden Beach

Several New South Florida Condominiums Planned

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The Related Group, a prominent Miami-based developer, plans to break ground on six new high rise condominiums in the next year, according to a recent article in the Miami Herald.

The development group recently created a new partnership with Miami-based marketing firm International Sales Group.

The partnership, now called Related ISG, plans to market the six new condominiums to international buyers, particularly those living in Latin America.

Purchasing a South Florida Condominium For Sale

According to the article in The Miami Herald, Related ISG’s strategy is to focus on those buyers who invest with nothing but cash. The company hopes such investments will help pay for much of the construction costs upfront.

Although most of the details about the projects are unknown, the developer did provide locations of the proposed six condos:

  • Two will be built in the Brickell neighborhood of Miami
  • One will be a waterfront condominium community in North Miami
  • Two will be waterfront condominium communities in the Hallandale and Hollywood area.

Although the South Florida real estate market has struggled with a number of homes underwater as well as a large inventory of unsold condominiums, Related ISG said that the high demand for South Florida real estate by Latin American investors as well as recent strong condo sales justify the company’s plans.

And according to one estimate, buyers will pay as much as 80 percent of the purchase price before the building has ever been completed.  This minimizes the risk that these new condominiums will go into foreclosure, said spokespeople from Related ISG.

Thinking About Investing in a South Florida Condominium for Sale?

Now is a fantastic time to do so!

Contact me,  Scott Patterson, today to talk with me about all of the  luxury condominiums in the various South Florida communities, including:

Until next time,

Scott

Affordability on South Florida Real Estate Market is Breaking Records

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I recently read a rather interesting article in The Palm Beach Post that discussed the record-breaking affordability on South Florida homes for sale.

Evidently, affordability on Palm Beach County homes for sale reached a new high during the first quarter of 2011.

Palm Beach County isn’t the only county that’s enjoying this record-breaking affordability.  Broward County as well as Miami-Dade County are also experiencing fantastic affordability on their homes for sale.

Purchasing A South Florida Home for Sale

There is a lot of data on the South Florida real estate market that illustrate just how affordable South Florida homes are right now:

  • A median-income family in South Florida could have purchased 77.5 percent of all the homes sold in the first quarter of 2011.
  • According to the National Association of Home Builders, the last time homes were this affordable in Palm Beach County was in early 1999, when a median-income family in South Florida could have purchased 77.4 percent of all the homes sold that year.
  • In comparison, a median-income family in South Florida could have only afforded about 30 percent of Palm Beach County homes during the real estate boom.

So what exactly is causing this great affordability in South Florida? A few factors are at play right now, including:

  • Low home prices
  • Steady incomes
  • Low mortgage rates

And even though home sales have picked up in recent months, it hasn’t caused prices to rise like they did during the housing boom a couple of years ago.

This is great news for South Florida home buyers looking for a deal on the South Florida real estate market.

Navigating the South Florida Real Estate Market

There’s never been a better time to be a South Florida home buyer.   With record low interest rates and low South Florida list prices, there’s a good chance that you’ll find an amazing deal on a South Florida home for sale.

As a South Florida real estate expert, I am experienced working in several of the area real estate markets, including:

Until next time,

Scott

South Florida Real Estate Market Update

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Last time I discussed with you a trend on the South Florida real estate market in which home prices are dropping and South Florida home buyer interest is rising.

Today I’d like to discuss with you a recent report by Zillow.com that further breaks down the drop in South Florida home prices.

Zillow.com is a Seattle-based company that studies real estate trends all across the country.

South Florida Homes for Sale

According to the recent report by Zillow.com, South Florida home values decreased by 12.8 percent during the first quarter of 2011 when compared to the first quarter of 2010.

Compared with the 25 largest metropolitan areas, the South Florida area (which includes Palm Beach County, Broward County and Miami-Dade County) ranked number five for steepest drops in home values.

Detroit and Atlanta tied for the largest annual decline in home values at 17.3 percent.

Here’s what else the real estate website reported about our South Florida real estate market:

  • South Florida home values have dropped to 2002 levels.
  • Miami-Dade and Broward County home values are less than half of what they were five years ago.

And although Zillow.com previously predicted that the national housing market would bottom out by late 2011, experts are now saying that the housing market won’t bottom out until 2012.

Since Florida’s housing market crashed before much of the rest of the country, my prediction is that our housing market will bottom out earlier than that.

Purchasing a South Florida Home for Sale

The news from Zillow.com is likely grim news for South Florida home sellers looking to get a great price for their South Florida home for sale.

But for South Florida home buyers, conditions are just right to enter the South Florida real estate market.

For more information contact me today to further discuss your options on the South Florida real estate market as a South Florida home buyer.

Feel free to browse some of our amazing residential communities in South Florida online.  These include:

Until next time,

Scott

Brazilians Play a Major Role in the South Florida Real Estate Market, Reports Show

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Brazilians are playing an increasingly important role on the South Florida real estate market, according to recent South Florida real estate market data.

Although Brazilians have been investing in Miami real estate since at least the 1990s, there seems to have been an increase in recent years.

This trend is partly because of the favorable currency conversion rate as well as increased Brazilian spending power, experts say.

Here are some more recent findings as they relate to Brazilian home buyers on the South Florida real estate market:

  • According to a recent Franklin Templeton survey of foreign investors,  70 percent of  Brazilians surveyed said they plan to invest money overseas this year.
  • Miami is ranked 8th for foreign investment in real estate in the United States.  New York, Washington, DC, Boston and San Francisco are the top places for foreign investment.

Investing in South Florida Real Estate

In addition to a favorable conversion rate, there are plenty of reasons to explain why so many Brazilians are choosing to invest in South Florida real estate:

Purchasing a South Florida Home or Condo for Sale

Have you recently been considering relocating to South Florida? If so, you’ll want an experience South Florida REALTOR to guide you through the process.

Contact me, Scott Patterson, today to learn more about all of the South Florida home buyer resources we offer to South Florida home buyers, including:

Until next time,

Scott

Exclusive Golden Beach Home Sells for Record Price in South Florida

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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

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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

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 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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