South Florida Real Market Update September 2010

The number one question I get asked is “How’s the Real Estate market?” This South Florida Real Estate Market update video from the President of EWM Realtors Ron Shufflied provides great information for Buyers, Sellers and others to better understand our market from where we were 5 years ago and where we are today.

Feel free to call or e-mail me “Scott Patterson” with questions about your specific community or condo.

New Farmers Market Coming To Hollywood Florida

Farmers Markets are increasingly popular for their locally grown fresh produce and other local goods. One of my clients is opening a state of the art 100,000 sq. ft. facility with over 300 booths in Hollywood Florida: The “Yellow Green Farmers Market”, the grand opening will be on October 3rd 2010 and is located at 1940 N. 30th Rd. Hollywood Florida 33021  (954-513-3990) www.ygfarmersmarket.com . Since we are all looking for ways to lead healthy lifestyles, this is a great way to do so while supporting our local community and environment.

Now South Florida and the nearby communities of: Hollywood Oaks, Hollywood Lakes, Harbor Islands, Golden Isles, Aventura, Golden Beach, Presidential Estates and Sunny Isles can come enjoy fresh produce, fish, meats, cheeses, arts & crafts and much more.  Please join us in welcoming our new neighbor!

New Home Construction Rises In The Waterfront Community Of Golden Isles Hallandale Florida

There has been a rise in new home construction in the waterfront community of Golden Isles in Hallandale Florida. All the homes pictured below are currently under construction and are being built by end users, only one is a “Spec” home.  All of these homes are nearly complete.  There are also 3 new vacant land purchases that will soon also have new homes built.

Golden Isles itself has been going through a makeover including new bridges, new guard house and new water lines.  These new homes will further improve the aesthetic appeal of the community and continue to establish Golden Isles as a very desirable deep waterfront community in South Florida. For more information on Golden Isles and/or properties for sale contact me at 954.661.8871.

City Of Hallandale Approves $85 Million Dollar Retail Project

Hallandale Square Project

600 E. Hallandale Beach Blvd.

The City of Hallandale recently approved plans for a five-story 380,000-square-foot retail project located at the southeast corner of Hallandale Beach Boulevard and Federal Highway (US 1).  Hallandale Square will include approx. 320,000 square feet of retail, 28,000 square feet of restaurants, a 749 seat movie theater and open atrium.  Developers estimate construction to begin late spring.  The pedestrian friendly project will focus on environmentally friendly materials and design.

Whole Foods Market Coming to Hallandale Beach Florida

Whole Foods Market will be coming soon to Hallandale Beach Florida  just around the corner from the waterfront community of “Golden Isles”.  Whole Foods will be one of the anchor tenants along with Cobb Theaters for the Hallandale Square Project which is located just north of the $1billion mixed-use project , Village at Gulfstream Park.  Currently there is an old shopping center where Tony Romas and The Knife restaurant are located along with other offices and retail.

Hallandale, Hollywood, Aventura and Golden Beach Seeing Fast Growth

Hallandale Beach Florida is changing fast and is yet another reason why I think the cities of Hallandale, Aventura, Golden Beach and Hollywood Florida along with sub-communities of Harbor Islands, Hollywood Lakes, Golden Isles, Presidential Estates, Aventura Lakes and Porto-Vita will be some of the key areas for growth and appreciation since they benefit from being “in the center of both market’s of Miami and Fort Lauderdale”.

You may access the City of Hallandale’s Current Development Activity List to find out about the major construction going on in the City.

Developers for Hallandale Square Project: Laura and Irwin Tauber principals of Taubco
Architect for Hallandale Square Project: Behar Font & Partners

Scott Patterson
Aventura Real Estate
Hollywood Florida Real Estate
Golden Beach Real Estate
Golden Isles Real Estate

Premier Waterfront Communities In Aventura, Golden Beach, Sunny Isles, Hollywood and Hallandale

South Florida has much to offer from cultural diversity, fine dining, beautiful beaches, vibrant nightlife, great weather and the best boating in the US. We are surrounded by water and there is no better way to take advantage of Sunny Florida than owning a piece of premier South Florida waterfront real estate. The Intracoastal waterway shaped South Florida and made it the boating capital of the world “America’s Venice” and navigating the waterway offers the best way to see South Florida from a different perspective.

Waterfront Communities In Hollywood, Hallandale, Sunny Isles, Golden Beach and Aventura!

Hollywood: Harbor Islands & Hollywood Lakes

Hallandale: Golden Isles

Sunny Isles: Golden Shores & Golden Gate

Aventura: Island Estates, Porto Vita & Williams Island

Golden Beach

Thinking of Buying a South Florida Waterfront Property?

What you should consider when thinking about buying a home in South Florida?

1. Are you a boater or are you considering purchasing a vessel in the near future?

2. What is the water depth at the property? The deeper the better and easier it will be for larger vessels to navigate since they usually draw more water. I recommend a minimum of 5 feet low-mean tide. Be sure you know – “What’s the draft of your vessel or future vessel?”

3. Are there any fixed bridges in your area you will be navigating? If so, what is the clearance/height at high tide? Many times fixed bridges are tall enough for about any vessel to get by.

4. Location to the ocean cut, in other words how far will it take you if you have a vessel to get out to the ocean via the inlet.

5. How wide is your dock and the canal, will the length of your dock meet your vessels overall length? Also, typically the wider the canal the more privacy you will have.

6. Is the property located in a wake zone or no wake zone?

7. For the most part, South Florida properties offering open water views have the steepest price tags for obvious reasons like the alluring views and privacy but are not always great in terms of docking your vessel at the property due to the rough seas & wakes from other vessels.

8. Does it have a dock with the correct services: 30, 50 or 100 amp service, water, cable and telephone?

9. Most importantly, is your seawall and dock deeded to your South Florida property?

Owning a Piece of South Florida Paradise Can be Yours!

All and all you almost can’t go wrong buying waterfront properties in the South Florida communities of Aventura, Golden Beach, Hallandale, Hollywood and Sunny Isles. It is one of South Florida’s biggest draw and with no more land being created, it is truly owning a piece of paradise. Money goes to Water!

Are You an Avid South Florida Boater?

What other features or characteristics would you add to this list?

Thanks for the feedback!

Scott

Flying Around Golden Isles Florida

Here is an aerial photo I took during a helicopter tour of Golden Isles in Hallandale Florida. In a previous post I generated a site map of Golden Isles and think this provides a different perspective for a South Florida buyer who would like to better understand this deep water community.

Golden Isles Location

Golden Isles is just 20 minutes to ocean access via the Intracoastal Waterway and Haulover Inlet. As a boater myself I have found there are few waterfront communities that provide a vessel with ocean access, protection from high winds and storms, deep water and wide canals like this community. Also you are just minutes from Aventura and the Hollywood-Fort Lauderdale International Airport.

Aventura Lakes Begins Construction of New Guard House

Aventura Real Estate News

Aventura Lakes North Guard House Aventura Lakes began construction of their new guard house on the north side of the community on N.E. 213th Street across from Gulfstream park. The new guard house was constructed only for the use of the Aventura Lakes homeowners as guests will still need to enter on the south side. The new manned guard house was designed to improve and relieve some of the traffic flow from the guard house in the south side of the community on 207th Street. The City of Aventura welcomed the improvement.

Short Sale a Home In South Florida – Free Advice

Short Sales in South Florida require a lot of patience, time and energy but when all parties collaborate it can be beneficial to all involved. Below is an outline of some basic but imperative steps to follow that have demonstrated to be beneficial for me in overcoming some of the many obstacles short sales present.

South Florida Short Sales – The Sellers side:

  1. Be patient, diligent, organized and persistent
  2. Whatever you do, do NOT avoid your lender. Be frank with them about your situation
  3. Keep open lines of communication with your listing agent and real estate attorney as they will play key roles in moving the process along
  4. Gather the following:
    • Last 2 years Tax returns
    • Copies of most recent Bank Statements for all your accounts (3 months to be safe), proof of income and assets
    • Write a Hardship Letter, a letter explaining the reason behind your current financial situation with supporting documents such as medical bills, death certificate, divorce decree, etc.
    • Give your lender authorization to speak with your Realtor and Aventura real estate attorney
  5. Execute a sales contract on your South Florida property (Most important part of a short sale)
  6. Have your attorney prepare an Estimate of Closing Costs in the form of a HUD 1
  7. You are now ready to send a complete package to your lender with all of the above mentioned. (There is no such thing as a pre-approved “short sale”, if there is no sales contract there is nothing to discuss)

Short Sales in South Florida – The Buyers side:

  1. Be patient, diligent, organized, persistent and ready to close.
  2. Keep open lines of communication with your Realtor and attorney as they will play key roles in moving the process along.
  3. Present a clean typed out offer with no financing contingency and with all the required addendum’s. Make the best and strongest offer you can make. Remember there are multi-levels of approvals and conditions are usually required.
  4. Have your attorney review the contract and estimated HUD prepared by the Sellers attorney.
  5. Have a licensed Home inspector inspect the subject property.
  6. Have your Realtor provide a letter outlining your strengths as a Buyer and furnish data concerning current market conditions.

Short Selling A Home In South Florida – Make Sure It’s Complete

It is very important to send a complete package because missing information will delay the processing of your request. Keep in mind that lenders are overwhelmed and they look at thousand of files and will only grasp the packages that look well put together and are likely to close. You have to make a strong case by having your Realtor submit a comparative market analysis including market conditions. Remember Lenders are not in the business to own real estate.

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Are You Aware Of The Waterfront Community Of Golden Isles

Golden Isles in Hallandale Florida is a gated deep waterfront single family home community with ocean access and no fixed bridges. There are approximately 304 properties within the gates of this Broward County community with 99% of the properties on the water and only 5 homes on dry lots. A few great notable points of Golden Isles are: it’s a protected waterfront community (protection for your vessel during storms and high winds), all of the canals are wide and deep enough for about any vessel that can be moored on any of its lots, ocean access is just 15 minutes away to the south at The Haulover Inlet and 45 minutes to Port Everglades Inlet to the north.

Golden Isles is right on the Broward/Miami-Dade County line and right across from Golden Beach Florida.  As home prices in Golden Beach soar, Golden Isles has become more attractive although it might not be as exclusive or have the name recognition of Golden Beach.

As a boat owner, one of the advantages of Golden Isles is that like I said it’s on deep water allowing for larger boats unlike Golden Beach which has numerous of its waterfront properties sitting on very shallow water and does not allow for boats that draw as little as 4 feet.

In my opinion, Golden Isles is one of  South Florida’s premier deep waterfront communities whether you just want to live on the water, are a boat owner or both. Golden Isles is minutes from Aventura, Bal Harbour and the Hollywood-Fort Lauderdale International Airport, right in the center of both Market’s of Miami-Dade & Fort Lauderdale.

Miami Beach Bath Club Villa Sells for $6.7 Million

Miami Beach Bath Club VillaI Recently just sold Villa 4 at the famous historic Miami Beach Bath Club for 6.7 million on April 28th, 2008 to a couple from Pennsylvania. There are only six villas at the Bath Club and they are the only oceanfront residences on Miami Beach.

The Bath Club of Miami Beach first opened its doors in 1926, it was the place to be and be seen. The Bath Club was redeveloped by Don Peebles and offers direct oceanfront living. The Bath Club is blending the old with the new, with six single family oceanfront villas, 107 exclusive condo units and offers all the amenities of a five-star hotel located minutes from the heart of Miami Beach.