Category Archives: Palm Beach County Florida

Here’s Your 2019 Update for the South Florida Real Estate Market

access_timeFebruary 13, 2019personScott Patterson

With the new year comes new opportunities to invest in the South Florida real estate market! If you’re thinking about buying a property, or selling your current property, sometime in 2019, it’s important to keep on top of market conditions.

South Florida real estate conditions are expected to shift slightly throughout 2019. This is due in part to changes in the national real estate market, such as rising mortgage interest rates and a slow in the growth of home prices.

However, Florida remains an optimistic and highly valuable real estate market. Continue reading to learn everything you need to know about the changing South Florida real estate market in 2019.

Demand for Homes is Consistently High

Current inventory of Florida homes for sale will grow slowly over the next year. In addition, experts expect home prices to increase by about 4 to 5%. Industry leaders are optimistic about the state of the market in 2019. South Florida has always been a popular place to buy a home, and for good reason.

Florida residents enjoy beneficial tax advantages, including the lack of any income tax. As such, buyers from all walks of life, but especially retirees and “snowbirds” looking for summer homes, are attracted to the South Florida real estate scene.

Current Inventory of Homes is Low

Across the United States, the current housing inventory has steadily decreased over time. This low supply of homes, combined with the consistent demand of homes in areas like South Florida, have created the conditions for a seller’s market.

If you’re interested in selling your South Florida home, it’s important to do some careful market research. A good starting point is finding out what your home is worth. Feel free to request a comparative market analysis from my team and I. We’ll research your home, inspect the market, and compare your property to similar properties in the South Florida area.

Mortgage Rates Expected to Increase

One key factor in the changing South Florida real estate market is the increase of mortgage interest rates. The interest rate for a 30-year fixed mortgage will rise to an average of about 5.25% by December, according to experts.

Growing interest rates are expected to tamper buyer demand, which is why home prices aren’t expected to increase rapidly this year.

Some Key Takeaways for the 2019 Real Estate Market

Long term investors in the Florida real estate market remain optimistic. The strong Florida economy combined with consistently high demand for homes in Florida have kept home values high.

As a result of ever-changing market conditions, there’s a new demographic of buyers to keep in mind. Many industry experts expect home demand to increase as a result of a newer, and younger, generation taking over the market. Millennials are currently the largest pool of potential homebuyers. In particular, households under 35 years of age are beginning to buy homes in South Florida.

As such, current Florida homeowners can expect home demand in South Florida to remain robust.

Making a Plan for Your Real Estate Ventures in 2019?

We would love to be a part of them! Give our team a call today to discuss all your 2019 real estate plans in South Florida. Whether you’re thinking of buying or selling real estate in South Florida, we’re here to help.

Have a question about the South Florida real estate market? Please don’t hesitate to reach out. I’m always happy to help.

‘Til next time,

Scott

Demolition of the Dania Beach Hurricane Roller Coaster

access_timeMay 17, 2016personScott Patterson

They say, whatever goes up has to come down. The Dania Beach Florida Hurricane Roller Coaster in southern Broward County has been a landmark for residents and tourists since year 2000. Just this past week the demolition of the monstrous wooden structure has begun and it created a buzz through the south Florida community. The ride itself closed five years ago and hasn’t been operated since. Some are happy to see it go but some are sad and believe it or not, I rode when it reopened in 2000, lots of memories from my childhood on a wooden roller coaster!

Kimco Realty Group of New York is developing a 850,000-square-foot center in a joint venture with Master Development and Salzman Real Estate Advisors, Who have projects already through the Tri-County area of South Florida. This project will bring in about 17,000 construction jobs and 13,000 permanent jobs once its fully developed.

No leases of any retailers have been signed yet, But the 35-acre first phase, which will incorporate “big box” stores and discount retailers, is planned to open in the fall of 2017.

The second phase, which will include more retailers, restaurants, 1,000 residential units and two hotels, will follow in the fall of 2018. By that time, construction will be initiated on some of the 500,000 square feet of commercial office space.

Dania Pointe of Dania beach located just north of Hollywood Florida, will be one of the largest shopping centers in Broward County Florida. Dania Pointe will attract many visitors all the way from Southern Miami-Dade County up to The Northern parts of Palm Beach County because of Dania Beaches central location in South Florida. Over half a million cars pass by the location northbound on I95 per day! This development is sure to be a success and a great new addition to the city and South Florida.

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

South Florida Real Estate Market Recovery Ranked Best in the Nation

access_timeMarch 13, 2013personScott Patterson

The South Florida real estate market is experiencing a larger bounce back than most housing markets around the nation.

Evidently, Palm Beach County, Broward County and Miami-Dade County are all seeing major jumps in their median sales price – making them some of the fastest improving markets in the country!

This is obviously great news for luxury South Florida home sellers who are hoping to get a respectable price for their South Florida property!

South Florida Home Sales

Here’s a breakdown of recent South Florida real estate market activity:

Broward County’s median price was $127,000, up 21 percent from the year before.
During that previous year, the median sales price in Broward County was $105,000.
That jump in Broward County was the highest jump of any housing market in the nation!
In Miami Dade County, the median sales price was $165,000, up 20 percent from the year before.
During that previous year, the median price in Miami-Dade was $138,000.

Although a lot of South Florida homes lost nearly half their value during the housing crisis, experts are now saying that the market is bouncing back from that drop.

Helping the situation is a lot of demand from investors as well as a shrinking supply of available South Florida homes for sale.

Rising rental prices are also driving more home buyers to the market.

List Your South Florida Home on the Market Now

South Florida home sellers who have been hesitant to list their home on the market in recent years can start doing so with confidence.

After all, given the recent data, it appears that home sales prices in the area are on a steady climb.

For help listing your home on the South Florida real estate market, please contact me, Scott Patterson.

I’m an experienced area REALTOR who can help you set the right list price on your home and create an effective marketing plan tailored to you.

For now, be sure to browse some of my online home-selling resources, such as:

Until next time,

Scott