Why You Should Be Using Sold Data to Buy or Sell Your Home

Thinking about buying or selling a home in South Florida? Before you enter a competitive real estate market, you’ll want to have all the tools you need to succeed. Although it might be tempting to scour the latest listings on the MLS, there’s another strategy you should consider. Studying sold data can make a huge difference in your home sale or search—here’s how it works.

Why Sold Data Matters More Than You Think

Sold data is a useful tool for buyers, sellers, and agents alike—and it can also show you how the market is really doing.

What is sold data, and why is it useful?

Person studying sold data

Even if you don’t have a lot of real estate experience, you might be familiar with sold data. In a nutshell, it’s information about homes that have recently sold—such as the sold price, when it sold, and who sold it.

Our site makes it easy to keep up with the latest sold data throughout South Florida. You can also search by city, neighborhood, or even a specific street! Just check out our handy search tool and click on “Sold Listings” instead of “Active Listings” to get started.

How does it help sellers?

Seller looking at sold data

Want to scope out your competition? It’s important to stay up-to-date with active listings in your neighborhood, but you should also be keeping track of what sells.

Believe it or not, many listings on the MLS are overpriced, underpriced, or have been sitting on the market for months. And if you’re having trouble pricing your home, these properties could send you in the wrong direction. Doesn’t it make more sense to study homes that have already sold?

By checking out sold data, you’ll discover prices, selling strategies, and staging techniques that have actually worked. It can also give you a good idea of what buyers are looking for in your specific community!

How does it help buyers?

Buyers on a computer

Believe it or not, sold data can also help buyers find the home of their dreams…for the right price. When you’re buying a home in South Florida’s hot market, it can be hard to know how much you should be paying. If you don’t want to waste time sorting through thousands of active listings, it might be time to change your approach.

As we mentioned, many homes on the market today just aren’t priced correctly. To see what homes are really selling for in your neighborhood of choice, try checking out the latest sold data. It’s the easiest way to know if you can afford a specific area—or find out if you’re about to snag the deal of a lifetime.

Ready to get started? Our search tool also has a map feature, which allows you to view sold data by location. You can even search by school district, budget, features, and so much more!

Bottom line: You should be using sold data!

Sold data graph

In addition to studying active listings, it’s imperative to keep up with sold data to truly understand your local market. To make things simple, you can also create a saved search for a specific area with our personal property organizer.

Ready to Buy or Sell in South Florida?

If it’s time to take your next steps, we’d love to help you navigate your real estate journey from start to finish. Just give us a call for more information—we have plenty of buying and selling resources to get you started!

The Hidden Perks of Buying Vacant Land

Are you looking for a great investment property? Do you want to build your own home? Are you not sure where to start your real estate journey? If the answer is “yes” to any of these questions, it might be time to consider buying vacant land. Believe it or not, there’s still plenty of open space around South Florida—and there are a few hidden perks you’ll want to know about before you buy.

It’s more affordable

Dollar bills

As home prices keep rising, vacant land remains a more affordable option for South Florida buyers. Buying an empty lot is a lot less expensive than you might think, and there really is something to suit every budget.

Let’s take a second to break down the numbers. The average home in Miami-Dade County sells for around $290,200, and the average list price has climbed to $409,415. However, vacant land often sells for half of that price…and you can even get more acreage for a lower price.

You get more options

Person planning on buying vacant land

Whether you’re a commercial real estate investor or a buyer looking to build a home, you’ll find plenty of options when you invest in vacant land. If you can dream it, you can do it—and all it takes is a fantastic agent to help you find the property of your dreams.

As of early 2020, there is around 1,000 residential and 5,000 commercial acreage currently available for development in Miami-Dade County. That means you’ll have plenty to choose from when you begin your search for the right plot of land! From there, you can connect with a builder to craft a property that truly suits your needs.

It’s a fantastic investment

Steps to buying vacant land

Vacant lots in South Florida have appreciated dramatically over the last few years, which means now is the time to make an investment. Even if you don’t quite know what you want to do with your lot, you’ll likely gain money whenever you go to sell it.

Wondering what kinds of features offer a bigger return? You can never go wrong with waterfront properties, as buyers are almost always willing to pay a premium for stellar views. Lots on golf courses also enjoy a higher than average appreciation rate, as do plots on a level piece of land.

You have direct ownership

Cash book with dollar bills and house figure

Most real estate transactions involving an empty lot are a cash deal—and that can come with some pros and cons. Although it is a larger investment up front, you won’t be taking out a mortgage to pay for it. That means you won’t have a loan hanging over your head, and you’ll also own the land free and clear.

Every deal is different, so be sure to negotiate terms that you’re comfortable with. Either way, not having a mortgage means you can spend your money elsewhere—and you can even start building your next home.

Buying Vacant Land? I Can Help!

Buying vacant land in South Florida requires the guidance of an expert, and I’m here to help! I’m Scott Patterson, and I’ve been buying and selling vacant land for years. I’d be honored to be part of your next real estate adventure—just give me a call with any questions and check out my latest listings for more details.

Buying in the Winter? It’s Easier than You Think!

Many people believe that have to buy or sell their homes during the peak real estate season—but this is a common myth that you shouldn’t fall for! When you live in sunny South Florida, buying a home in the winter can be a breeze. It may come as a surprise, but here’s why you shouldn’t let the season stop you from buying.

Less Competition

Person with keys buying in the winter

When it comes to real estate, supply and demand is the name of the game. Most people are looking to buy a home from May to August, but don’t fall prey to all the hype. In Florida’s hot market, it’s easy to be swept away by the competition. If you want to move during peak season, be prepared to be outbid and go against thousands of other buyers.

Want to take things at your own pace? Buying in the winter allows you to peruse the market without rushing. Homes sit on the market for much longer, so you won’t have to schedule a showing the day the home lists (unless you want to!). Less competition also means less stress, which will make the process that much simpler.

Prices Are Lower

Money, check book, and wooden house

As I mentioned before, lower demand means a higher supply. When it comes to real estate, that means buyers have more room to negotiate a lower price with motivated sellers. This is definitely the case in the winter—although you’ll have fewer homes to choose from, you could get a great deal that you wouldn’t find during the summer.

On average, home prices take the biggest dive in January, with November and December close behind. You can save tens of thousands of dollars if you time your move right—and sellers are often eager to work with a motivated buyer.

More Flexibility

Agent and client looking over a contract

Imagine not having to compete with hundreds of other people to book a moving company, find a lawyer to handle the closing, and handle all the other details of buying a home. Buying in the winter means you can avoid all of these hassles, which will make a stressful process a whole lot smoother.

Because fewer people are making a move during the colder months, you might even get a deal on a moving service. And because you’re in the South Florida area, you won’t have to deal with inclement weather or tons of snow! Even real estate agents are less swamped during his time of year, so there’s a good chance that your home search will be a breeze.

Thinking About Buying in the Winter?

There are so many reason to consider buying your next South Florida home during the colder months. Ready to take your next steps? Give me, Scott Patterson, a call. I’m here to be your all-in-one South Florida resource, and I have tons of buyer info to help you navigate the process. Just give me a call with any questions—I’d love to chat!

First-Time Buyers: A Guide to Finding Your Dream Home in South Florida

Even for seasoned real estate investors, buying a home can be a challenging process. From the initial search to figuring out the right mortgage options to navigating closing paperwork, buying a home comes with a long list of to-dos. For first-time buyers, the purchasing process can be both stressful and intimidating.

Are you looking for your first home in South Florida and feeling a little overwhelmed? Don’t worry—my team and I are here to provide you with all of the resources you need to find real estate success.

A beautiful house on a beach.

Narrow Down Your Search

Take a minute to think about your dream home. Is it located right on the beachfront with easy access to waterfront recreation? Does it have a large, private backyard with plenty of room to roam? Or perhaps it comes outfitted with the latest in smart home technology?

Whatever is most important to you in a dream home is completely up to you, but my team can help you narrow down your options. Our specialized search tool was made specifically to help buyers search homes based on certain criteria, so give it a try!

Still need some inspiration since it’s your first time buying? Check out my featured listings ,and see what catches your eye.

An aerial view of Miami.

Explore South Florida Areas

You might not initially think so, but finding the right neighborhood is just as important as finding the right home. South Florida is made up of a wide collection of communities, each offering different benefits, from active nightlifes to easily commutable locations.

In the end, narrowing down the ideal neighborhood is a lot like the home search process; it’s all about what’s most important to you. Are you more concerned about the lifestyle of a neighborhood or the location? Would you rather be closer to the beach or your workplace?

Luckily, you don’t have to hit the streets and explore your options for yourself. My team and I offer a variety of in-depth guides to each community around South Florida, so be sure to take advantage of our browsing resources.

The calculator app on an iPhone.

Figure Out Your Finances

One of the trickiest parts of buying a home—especially for first-time buyers—is figuring out your finances. After all, you need to find a trusted lender, decide which mortgage options work best for you, and calculate your budget for monthly payments.

Since I’ve been working around South Florida for years, I can help you find the best lenders with the best rates in the area. I also offer a number of helpful financial calculators that allow you to get a better grasp on what your payments might look like. And when it comes to deciding on mortgage options, my team can help you determine which choice fits your needs.

People talking in front of a laptop.

Get Answers to Your Questions

If it’s your first time buying, you’re probably going to have a fair number of questions about the process. Not only is that expected, but I have plenty of resources—from FAQs to exclusive buying guides—made to help you get some much-needed answers.

Still not finding what you’re looking for? Don’t hesitate to reach out and give me a call or send along an email. With over 20 years of experience in the area, I’m more than happy to break down the intricacies of buying in South Florida.

Find Your Dream Home with the Scott Patterson Group

Buying your first home can be a daunting process, but when you work with the Scott Patterson Group, you’ll be taken care of. With years of experience, a wealth of local knowledge, and a wide variety of professional skills, my team has everything you need for a successful South Florida real estate experience.

Ready to get started on finding your dream home or have a few questions about local real estate? Don’t hesitate to give me a call!