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Tag Archives: Aventura Real Estate

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

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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

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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!

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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

 

Aventura Florida Neighborhood Spotlight on Presidential Estates

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Today I will continue my occasional series of impressive South Florida neighborhoods by telling you about the Presidential Estates community.

This high-end community features 176 incredible homes developed by Coscan Homes and the Signature Collection by Brookman-Fels.

These homes, which range from 2,600 to 6,500 square feet, were built between 1998 and 2002.

Homes in Presidential Estates feature between three to seven bedrooms and one to three-car garages. And many of them include private swimming pools!

Residences at Presidential Estates range from $1,000,000 to $3,500,000.

Continue reading to learn more about what this magnificent South Florida neighborhood has to offer to Aventura area home buyers like you!

Live in the Lap of Luxury at Presidential Estates in South Florida

No luxury feature was spared when developers built Presidential Estates in South Florida, as evident by the expansive list of amenities offered to residents:

  • Community parks and playgrounds
  • Four tennis courts
  • A tennis club
  • A community swimming pool
  • Pro Shop and Clubhouse

The community also features a 24-hour manned gatehouse for added privacy.

What’s more, Presidential Estates is an ideal place to call home for families with school-age children.

That’s because this elite Aventura neighborhood is zoned for such high-performing public schools as Benjamin Franklin Elementary and North Miami Senior High.

Buy an Aventura Home for Sale at Presidential Estates Today!

To learn more about what makes Presidential Estates such an amazing place to live – or to inquire about available listings on the Aventura real estate market – contact me, Scott Patterson.

As your South Florida real estate expert, I’ll be happy to answer any questions you may have as well as provide you with such helpful relocation resources as:

Until next time,

Scott

Positive Signs for South Florida Real Estate Market in 2012

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The year 2012 may turn out to be a better year for the South Florida real estate market than previously expected, according to panelists at a Greater Miami Chamber of Commerce meeting.

During the panel discussion on real estate and new construction, experts predicted that the South Florida housing market had finally bottomed out.

Ron Shuffield, president of our company Esslinger Wooten Maxwell Realtors, attended the meeting and participated in the discussion.

Continue reading to learn  about his predictions for 2012 and what it means for interested South Florida home sellers.

South Florida Homes for Sale

According to housing experts, low interest rates as well as depressed sales prices on the South Florida real estate have attracted a new influx of home buyers.

Given the increasing demand for homes, Ron Shuffield said that the only thing that may slow down home sales in 2012 would be a shrinking home inventory.

For instance, typically there should be a seven to nine month home inventory. But right now, there’s a six to seven month housing inventory.

Panelists credited that shrunken inventory to heavy discounting, especially for South Florida condominiums.

Here are some of the predictions that these real estate experts made for the New Year:

  • The last of the 4,700 condominium units remaining from the 49,000 built in the region in the last several years will be sold in 2012
  • Many of those 4,700 condominium units will likely be converted into rental properties.
  • Several of the proposed condominium projects in Miami-Dade County will reach fruition in 2012, adding about 4,200 units to the market.
  • European and Latin American investors will continue to fuel much of the activity on the South Florida real estate market
  • A possible increase in mortgage interest rates as well as land prices, however, may slow down the economy once more.
  • What’s more, new condos priced too high could also stall real estate activity.

South Florida Properties

The outlook on the South Florida real estate market definitely seems to be improving each year, suggesting that the market is starting to swing back toward a neutral market rather than a buyer’s market.

This should be welcome news for South Florida home sellers trying to get a good deal on their home.

From my expert advice to my many home selling resources, I’ll make navigating the South Florida real estate market a breeze for you.

Until next time,

Scott

A Look Back at South Florida Real Estate Activity in 2011

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The year 2011 was marked by increasing sales volumes, international home buyers using cash only and depressed home prices, according to a recent report from the Miami Association of Realtors.

Continue reading to learn more about how the South Florida real estate market fared at the end of 2011 – and what local real estate experts are predicting for 2012.

Florida Homes for Sale in the Aventura, Hallandale and Golden Beach Areas

Here’s an overview of some of the trends that South Florida REALTORS saw on the local housing market in 2011:

  • International home buyers spent about $3.5 billion in cash on distressed South Florida real estate
  • Although home sales increased and the total housing inventory decreased in South Florida, home prices remained relatively stagnant.
  • The South Florida rental market saw growth as former home owners became renters.
  • The home inventory in South Florida dropped to 28,000, or by about 40 percent.
  • Meanwhile, the shadow inventory of foreclosed homes that are not listed for sale yet increased to more than 200,000.
  • South Florida existing home sales increased at a slower rate than earlier in the year, although median home prices began to increase.
  • In Miami-Dade County, there were 1,064 condo sales in November, up 2 percent from November 2010.
  • Meanwhile, single family home sales increased by 11 percent year-over-year, to 755.
  • In Broward County, there were 1,089 condo sales in November, down 1 percent from November 2010.
  • Meanwhile, single-family home sales increased by 22 percent year-over-year, to 961.

Analysts are cautiously optimistic about what 2012 will bring for the South Florida real estate market.

While some believe that there isn’t likely to be any real market rebounds until 2013, others believe housing market activity will improve considerably in 2012.

Here are three predictions that the Miami Association of Realtors made for the new year:

  • Home prices will remain low. Experts believe that the high number of distressed properties on the market will keep home values depressed. As an illustration, more than half of all South Florida home sales in November involved a foreclosure or short sale. In a normal market, those types of properties would have made up less than 5 percent of sales.
  • There will be an increase in foreclosed properties on the South Florida real estate market. In 2011, there was a slowdown in foreclosed properties entering the market as banks dealt with a backlog of court repossession paperwork. But experts predict that slowdown will end in 2012, possibly dragging down home values further.
  • More people invest in the rental market, fueling South Florida home sales. While it may seem counter intuitive, an increasing number of South Florida investors are buying homes to turn them into rental properties because of the high demand for rental properties in the area. This in turn is helping create activity on the local real estate market.

Your South Florida Real Estate Expert

While we may not be out of the woods yet, there are plenty of signs to suggest that the sluggish South Florida real estate market is beginning to improve.

The year 2012 may become a turning point on the South Florida real estate market.

For expert advice on the best way to navigate the local housing market as a home buyer or a home seller, make sure to contact me, Scott Patterson.

As your South Florida real estate expert, I have extensive experience working in such local housing markets as:

Until next time,

Scott

Incredible New Villa Flora Listing in Williams Island in Aventura, Florida

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If you’re the kind of discerning South Florida home buyer who values luxury, prestige and elegance, then you’ll be thrilled to learn about the most recent new listing on the South Florida real estate market.

An 8,400 square foot home in the elite Villa Flora community of Williams Island was recently listed on the Aventura real estate market.

There are only 14 homes in this exclusive Aventura community, so it’s a rare treat when one of them becomes available for purchase.

Continue reading to learn more about this magnificent Aventura home for sale and how it can become your dream South Florida home.

Aventura Homes for Sale

The home located at 1524 Island Boulevard  is an impressive architectural feat, even by the high standards set by the gated Villa Flora community.

This Aventura home is situated on point lot, the largest lot in the community and provides incredible, unobstructed views of the bay.

Built with the highest-end materials available, this South Florida home features 6,596 square feet of living space, including 6 bedrooms and 7.5 baths.

There are also a number of recreational features provided throughout the home, including:

  • A state-of-the-art home theater
  • Social Room
  • Pub
  • Heated swimming pool
  • Wet bar with built-in grill
  • Large Terrace

The high standards and attention to detail are evident throughout the residence:

  • Custom-made kitchen with top grade appliances
  • Granite counter-tops
  • Hardwood and marble floors
  • Faux and custom wallpaper
  • Elevator
  • Library
  • Three beautifully designed fireplaces
  • 3 car garage
  • Impact windows and doors
  • And more!

Plus, as a resident of Villa Flora, you’ll have unlimited access to all of the recreational amenities right on the property, including:

  • Marina, which accommodates boats up to 120 feet
  • Spa
  • State-of-the-art fitness center
  • Tennis courts

1524 Island Boulevard #13: An Unbeatable Find on the Aventura, Florida Real Estate Market

This incredible South Florida home is currently listed for $4,500,000.

Contact me, Scott Patterson, today for more information on what this home in the Villa Flora community has to offer.

And for additional help on navigating the South Florida real estate market, make sure to check out all of my helpful home buying tools, such as:

Until next time,

Scott

Aventura Real Estate: Neighborhood Report on Presidential Estates

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Presidential Estates is one of the south after communities in Aventura real estate market.

This exclusive country club community features 176 stunning homes, all of which were built between 1998 and 2002.

This elite Aventura neighborhood offers many amenities, including:

  • 24-hour manned gatehouse for extra privacy and security
  • Four tennis courts
  • Tennis Club
  • Community swimming pool.
  • And an 18-hole championship golf course designed by Tommy Fazio

What’s more, this neighborhood is zoned for some of the best public and private schools in the area.

Below is recent date active and sold date for Presidential Estates.

South Florida Homes for Sale in Presidential Estates

Here’s a look at the current market conditions for Presidential Estates on the South Florida real estate market, based on the most recent market data.

  • Total Closed Sales in 2011 YTD: 2
  • Total number of homes currently active: 17
  • Total number of homes currently pending: 2
  • Highest List Price in 2011: $2,100,000
  • Lowest List Price in 2011: $849,000
  • Highest Priced Sale in 2011: $1,770,000 (6BR/5.5BA)
  • Lowest Priced Sale in 2011: $1,550,000 (6BR/4.5BA)
  • Maximum Square Footage on a Home Sold in 2011: 4220
  • Minimum Square Footage on a Home Sold in 2011: 4178
  • Minimum Days on the Market for active listings: 21
  • Maximum Days on the Market for active listings: 1,018
  • Minimum Days on the Market for closed sales: 35
  • Maximum Days on the Market for closed sales: 87

Now, compare that with the South Florida real estate data for Presidential Estates in 2010:

  • Total Sales in 2010: 9
  • Highest List Price in 2010: $1,950,000
  • Lowest List Price in 2010: 975,000
  • Highest Priced Sale in 2010: $1,775,000 (6BR/5.5BA)
  • Lowest Priced Sale in 2010: $912,500 (4BR/4BA)
  • Maximum Square Footage on a Home Sold in 2010: 5628
  • Minimum Square Footage on a Home Sold in 2010: 3651
  • Minimum Days on the Market: 30
  • Maximum Days on the Market: 328

Until next time,

Scott

New South Florida Luxury Real Estate Development Coming to Aventura

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There’s a new South Florida luxury condominium community coming to Aventura, Florida – and this one is sure to raise the bar when it comes to luxury South Florida real estateBellini at Williams Islandwill feature 70 spacious units – all of which are waterfront.Prices for this amazing South Florida condominium community start at $425 per square foot, with just four units per floor on most levels.

Continue reading to learn more about what this brand new South Florida luxury condominium has to offer interested Aventura home buyers.

Aventura, Florida Luxury Real Estate

Bellini at Williams Island, located at 4100 Williams Island in Aventura, was developed by Martin Margulies.
This impressive 24-story condominium features units that range from 2,235 to 4,974 square feet.
There’s also two penthouses, which combine two units each. Every residence was created using only the finest of materials, including:
  • European cabinetry
  • Granite or quartz counter tops
  • Bosch dishwasher
  • Sub-zero appliances
  • Two-zone air-conditioning systems
  • And more!
Depending on which unit they choose, South Florida home buyers can expect to pay anywhere from $1.35 million to $3.6 million for these amazing condominiums.Prestige and elegance are evident throughout this beautiful Aventura property, where residents have access to such amenities as:
  • 24-hour valet garage parking
  • Concierge services
  • Private elevators
  • Fitness Center
  • Sundeck with resort-style pool and spa
  • A spacious cabana overlooking the Williams Island Marina
  • Media room
  • And more!

Investing in Aventura, Florida real estate

Bellini  will occupy the last remaining residential site at William’s Island, which in and of itself has become synonymous with upscale luxury living.This Aventura condominium is scheduled to be completed in 2011.If you’d like to be one of the lucky few who call Bellini at William’s Island in Avnetura home, then contact me, Scott Patterson.As your South Florida real estate expert, I’d be happy to answer any questions you might have as well as give you more information on Bellini.

While you’re at it, please feel free to check out some of my other helpful South Florida home buying resources, including:

Until next time,Scott

 

South Florida Real Estate Summer 2011 Market Update

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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