Tag Archives: South Florida Real Estate Market

Hollywood, Florida Real Estate Spotlight on 1270 Hatteras Lane

access_timeFebruary 19, 2013personScott Patterson

Embrace the height of luxury living by checking out my newest South Florida real estate listing at 1270 Hatteras Lane in Hollywood, Florida!

This stunning 7,300-square-foot estate features 5 bedrooms and 7.5 bathrooms.

It’s currently priced at $1,995,000.

Luxury Living at Its Finest In Hollywood, Florida

Grandiose, immaculate, spacious, elegant: There are many ways to describe our latest listing on Hatteras Lane in Hollywood.

This property features two levels and seamlessly blends relaxed and formal spaces.

On the first level, prospective Hollywood home buyers will discover a covered entry, a two-story foyer, a bedroom suite, royal gold leaf detailed ceilings and a gourmet kitchen with adjoining breakfast room.

Other reception rooms on the ground level include: formal dining, living room, family room and a den with a wet bar.

Each room boasts an excellent attention to detail, which is why you’ll find such fine features as mosaic tiles, custom window treatments, decorative wall niches and more!

Upstairs, interested home buyers will encounter an ornate master bedroom with sitting room and his and her walk-in closets as well as other generous-sized bedrooms.

The grounds of this incredible Hollywood, Florida home offer freshly manicured gardens as well as an extended coral stone patio that includes a covered terrace and pool.

Other features on site include a 3-car garage and a laundry room.

Harbor Islands Estate!

Contact me, Scott Patterson, to learn more about what the home at 1270 Hatteras Lane has to offer you and your family.

When you do, I’ll provide you with additional property information, help you schedule a showing and more!

Until next time,

Scott

South Florida’s Real Estate Market Is Rebounding

access_timeSeptember 24, 2012personScott Patterson

South Florida is currently ranked Number 2 for fastest rising home values in the country, however values are 48 percent lower than compared to peak levels in 2006 according to the latest Case-Shiller report.

Evidently, Phoenix is the only housing market in the country with faster rising values!

The latest report signals that the housing market is indeed rebounding, which is excellent news for area home sellers!

South Florida Properties for Sale

Here’s the latest data on the South Florida real estate market (which includes Broward, Miami-Dade and Palm Beach counties) from Case-Shriller as well as other data sources:

Currently, values are about 48 percent lower on the South Florida real estate market than compared to peak levels in 2006.
Since January, South Florida’s Case-Shiller real estate index increased by 5 percent.
Between May 2002 and May 2012, South Florida real estate values have grown about 12 percent.
Home prices in South Florida have steadily increased over the last six months
Since May 2011 to May 2012, home prices in South Florida have surged by 3.4 percent.
After a 1.4 percent increase for the region in April, home prices were at their highest point on the index since November 2010.
In June, the single-family homes inventory in Palm Beach County dropped from 11.9 months to 5 months when compared year-over-year.
Nationally, the single-family homes inventory fell to less than seven months during that same period.
Meanwhile, completed foreclosures have fallen to 2007 levels nationwide.
Florida had the second highest number of completed foreclosures in a 12-month period, with 91,000.
Although Florida still has the highest foreclosures inventory in the country with 11.5 percent of all mortgages, it’s still down from one year ago.

Your South Florida Real Estate Expert

While the South Florida real estate market still has a ways to go before it is completely recovered from the bubble burst of a few years ago, it is certainly making great strides!

This is great news for home sellers who have been waiting for home prices and values to rise so that they can get a better price on their own home!

To learn more about the current state of the South Florida real estate market – or to inquire about navigating the market as a home seller – please contact me, Scott Patterson.

As a dedicated South Florida REALTOR, I have years of experience helping home sellers navigate such area market as:

And I’ll be happy to help you as well!

Until next time,

Scott

Report: Europeans Are Increasingly Investing in South Florida Real Estate

access_timeAugust 20, 2012personScott Patterson

Recently I read an interesting article in the Sun Sentinel about how European’s financial struggles are impacting South Florida real estate in a positive way!

Evidently, those Europeans with some extra spending money are investing in second homes in South Florida before the value of the Euro drops any further.

This has caused a recent spur in activity on such South Florida real estate markets in Aventura, Hallandale, Sunny Isles Miami and others.

Continue reading to learn more about this new trend!

South Florida Properties for Sale

Here’s a look at how Europe’s Euro woes are affecting various sectors of the South Florida economy:

Europe now comprises 16 percent of South Florida’s trade with the world
Europe also makes up 15 percent of shipments overseas from South Florida ports
Switzerland ranks as South Florida’s third largest trade partner, mostly because of the gold industry
European tourism to South Florida is also up!

And here’s how the crisis overseas is having a positive impact on South Florida’s real estate market:

International home buyers accounted for 15 percent of all sales in the state of Florida before 2007
In addition, the issues overseas are helping to keep U.S. interest rates low for the short term.

Plus, the dropping value of the Euro-zone has also led many Europeans to also invest in South Florida’s tourism and trade industries!

Your South Florida REALTOR

The recent investment on the part of Europeans on the South Florida real estate market will likely create a ripple effect.

As more Europeans snatch up available homes for sale, the total housing inventory will fall.

As that happens, sales prices will begin to creep up as demand for available South Florida homes begins to rise above supply of such homes.

This is great news for interested South Florida home owners who are hoping to sell their property for a good price!

For more information on how Europe’s financial woes may affect you as a home seller, please contact me, Scott Patterson.

I have years of experience selling properties on such local housing markets as:

Until next time,

Scott

South Florida Home Prices Continue to Rise!

access_timeAugust 16, 2012personScott Patterson

For the seventh straight month, home prices have continued to increase on the South Florida real estate market!

This marks the best home price showing since Fall 2006!

Continue reading to learn more about recent South Florida housing market activity to see how it may affect you as a home buyer!

South Florida Homes for Sale

Here’s what the most recent real estate market data revealed about South Florida home sales activity in June:

June was the 7th month in a row that saw year-over-year single family home price increases in Miami-Dade County
The median price for a single family Miami-Dade County home was $194,250, up 5 percent from the same month in 2011.
The median price for a single-family Broward County home was $215,000, up 8 percent from the year before.
The median price for a Miami-Dade condo was $160,000, up 34 percent year-over-year.
In Broward County, the median price for a condo was $85,900, up 14.5 percent from last year.
There were 906 single-family homes that closed in Miami Dade County, down 1.8 percent from last year.
And in Broward County, there were 1,310 single-family homes that closed, up 14.5 percent year-over-year.
In Miami Dade County, there were 1,368 condos that closed, up 4 percent from last year.
Meanwhile in Broward County, there were 1,485 condos that sold, down 4.4 percent year-over-year.

The data suggests that things are definitely looking up here in South Florida.

Still, analysts are saying it will likely take until 2019 for home sales prices in South Florida to match what they were in 2006.

Purchase Your Dream South Florida Home Today!

Prices definitely appear to be on an upward trend on the South Florida real estate market.

Thus, if you’re interested in getting buying a home or condo, then you may want to consider entering the market soon!

For expert guidance on navigating the South Florida housing market as a buyer, please contact me, Scott Patterson.

While you’re at it, you may also be interested in checking out some helpful online home-buying tools:

Until next time,
Scott

Conditions Are Ideal to Purchase a Broward or Miami Dade County Home for Sale

access_timeAugust 2, 2012personScott Patterson

The president of our company EWM Realty International recently released the latest housing market data for Broward and Miami-Dade counties.

The outlook is fantastic for interested South Florida home buyers, said Ron Shuffield.

Home sales have increased and the median home sales price is on the rise.

Continue reading to learn more about recent South Florida housing market activity to see how it compares to recent years.

Properties for Sale in Broward and Miami Dade Counties, Florida

Here’s a brief overview of what Mr. Shuffield reported about recent South Florida housing market activity:

In Miami-Dade County, the median price for a single-family home so far in 2012 is $200,000, up 12 percent when compared to the year before.
In 2011, the median price was about $150,000.
Also in Miami-Dade County, the median price for a condominium so far in 2012 is $150,000, up 21 percent when compared to the year before.
In Broward County, the median price for a single-family home in 2012 is $216,000, up 14 percent from 2011.
And the median price for a Broward County condominium in 2012 is $85,000, up 9 percent from 2011.

Mr. Shuffield explained that low sales prices, record low interest rates and affordable housing inventory at the foreclosure stage have driven the recent sales South Florida has seen.

As a result, available and affordable South Florida housing inventory is dwindling quickly.

For instance, in 2011, sales of foreclosed homes made up 65 percent of all home sales in South Florida. Now they represent 50 percent of all sales.

Your South Florida Real Estate Expert

Watch the video above to learn even more about why South Florida home buyers stand to gain a lot on the Miami-Dade and Broward County real estate markets.

And if you’re thinking about entering the South Florida housing market anytime soon, be sure to contact me, Scott Patterson.

I have years of experience successfully helping buyers find a home that meets their wants and needs as well as lifestyle in such markets as:

Until next time,

Scott