Several New South Florida Condominiums Planned

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

National & International Exposure of South Florida’s Premiere Island on Fox News

Island Estates Fox News Shepard Smith / Phil Keating

It’s been a good year for one of my listings in Aventura, Florida.  Matter of fact, it’s been a great year!

Considered the last developable island in South Florida, the 8-acre island is located between Miami Dade and Broward counties.  It offers potential buyers scenic views of the Intracoastal waterway, not to mention unbeatable privacy.

It’s listed for $49.5 million on the South Florida real estate market.

Since we put the island on the market, we’ve received plenty of coverage in the media – from a front page article in the Miami Herald to an extended feature segment on Fox News.

South Florida Real Estate

Thinking about entering the South Florida real estate market as a South Florida home buyer? Then contact me, Scott Patterson.

I’ll help make your South Florida home buying experience easier with such South Florida real estate resources as:

Until next time,

Scott

 

 

 

Island Estates Fox News Shepard Smith / Phil Keating from Scott Patterson on Vimeo.

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

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

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

Scott Patterson featured on Fox News Today On South Florida Real Estate Story

When the last developable island goes on the market, it’s big news here in South Florida.

My listings of the 8-acre island in Aventura, FL was recently a cover story in the Miami Herald.

Now, a national cable news program is covering this amazing opportunity on the South Florida real estate market as well!

Fox News Broadcasting Live from North Island in Aventura, Florida All Day Today

I’m thrilled to announce that Phil Keating of Fox News will be broadcasting a story on South Florida Real Estate live from North Island at Island Estates all day today.  This coverage will also feature interviews with yours truly as well as aerial views of North Island.

The program will run from 10 a.m. to 8 p.m. today.  Fox news will be doing Liveshots every few hours.

Tune in at approx. 11 a.m. every few hours until 8pm to  see one of the best pieces of property available on the South Florida real estate market today.

South Florida Real Estate

Thinking about selling your South Florida home?  I can help!  Not only do I have experience selling single-family homes and condominiums in South Florida, I can also say I have experience marketing entire islands on the South Florida real estate market!

Contact me, Scott Patterson, your South Florida REALTOR,  to learn more about all of the amazing South Florida home seller services I provide, including:

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

Last Developable Island For Sale in Aventura Florida Now

Not many people can say they own their own island.  That rare opportunity is available  in Miami-Dade County, Florida now.

I was overjoyed to learn that The Miami Herald wrote and featured a front page story on my 8 acres island listing.

For just $49.5 million, you can own your own eight-acre island, the most exclusive private piece of real estate in South Florida.  The private island is located in Aventura and linked to the mainland by a private bridge.

Owner Gary Cohen, who represents the Cohen Family Trust, certainly has quite the asset on his hands: the waters surrounding the island are deep enough for a potential buyer to dock their 150 foot yacht.  Plus, the island is connected to the beautiful city of Aventura.

Additionally, Mr. Cohen couldn’t have picked a better time to enter the South Florida real estate market: sales of Miami-Dade single-family homes in excess of $1 million are up 18 percent!

Learn more about this stellar piece of Aventura real estate by checking out today’s article in the Miami Herald.

Investing in Aventura Florida Real Estate

Thinking about entering the South Florida real estate market as a South Florida home buyer? I can help!

As your South Florida real estate expert, I’ll provide you with invaluable home buying tools to help you make an educated decision on the South Florida real estate market, including:

Until next time,

Scott

Brazilian Home Buyers Positively Stimulating the South Florida Real Estate Market

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.

More South Florida Home Buyers Are Using Cash to Purchase South Florida Homes for Sale

As it has become increasingly difficult to get a South Florida mortgage in recent years, more South Florida home buyers are using cash to purchase homes, according to recent real estate market data.

According to the National Association of Realtors, about 28 percent of 2010 home sales involved all-cash transactions.  This trend appears to be an increasing,  especially when one considers that in 2008, 14 percent of all real estate transactions were cash only.

In the Miami-Fort Lauderdale area, the prevalence of all-cash transactions is even more apparent.  In 2010, more than half of all transactions in the area involved cash buyers.

South Florida Home Buyers Find Getting a Mortgage Difficult

Some experts have suggested that the sluggish housing market has caused the increase in cash-only real estate transactions. Here’s why.

After the housing market bubble burst, many lenders tightened their belts and made it more difficult to get a mortgage.  According to a national survey by MortgageMatch.com:

  • 70.6 percent of Americans feel like the difficulty of getting a mortgage is a serious problem.
  • 32.3 percent of Americans found that understanding the mortgage process and meeting lender requirements is more difficult than getting the mortgage itself.
  • 79 percent of recent home buyers said that getting a mortgage was as difficult or more difficult than they expected.
  • 20.9 percent of home buyers said that it stressed them out more to wait for approval on a mortgage than to wait to hear back on a job opportunity.
  • 10.8 percent of borrowers said their lender charged them a higher interest rate than they were originally quoted or expected.
  • 20.7 percent of borrowers said that finding a lender that was easy to work with was a challenge.

All Cash South Florida Real Estate Deals Seen as a More Attractive Option

The recent data released on home buyers’ perceptions of getting a mortgage suggests that  the process is stressful, frustrating and upsetting.

Meanwhile, those home buyers who are opting to use cash on their real estate purchase are finding that the process is easy and even advantageous.

Home buyers who use cash only usually get 5 to 10 percent  off the asking price of a home as compared to those buyers who use a mortgage.

Many South Florida real estate experts agree that sellers prefer cash real estate transactions because they tend to be quicker.  In addition, the seller doesn’t have to worry about a bank rescinding  a mortgage deal.

Homes for Sale Available Now

Are you interested in checking out some of the properties available now in Aventura, Florida and other nearby communities such as Golden Beach and Hallandale? Then contact me, Scott Patterson, your South Florida real estate expert.

As your South Florida REALTOR, I’ll keep you up to date on more trends like this one in the Aventura real estate market as well as let you know of any Aventura homes that enter the Aventura real estate market.