Tag Archives: south florida real estate

Aventura Townhouse Shatters Previous Record with $4.45M Sales Price

access_timeAugust 4, 2014personScott Patterson

How much would you be willing to pay for luxury? How much would it mean to you to be able to say that you live in one of the most elite zip codes in South Florida, that you enjoy the most opulent amenities and the most magnificent views in all of Aventura?

For one recent South Florida home buyer, the price to enjoy such luxury is right around $4.45 million dollars – the highest sales price for a townhouse in Aventura ever!

So What Does $4.45M Get You On the Aventura Real Estate Market?

This majestic Aventura Villa Flora Townhouse, which is located in Villa Flora within Williams Island, boasts 6 bedrooms, 7.5 bathrooms and a total of 7,102 square feet of living space.

Located in the gated community of Villa Flora at 1524 Island Boulevard in Aventura, this gorgeous property will give its new residents sweeping bay views on a stunning and masterfully maintained estate.

Inside, the residents will be awe-inspired with their spacious home theater, gorgeous master suite with His & Her Master bathrooms, custom kitchen with wolf and sub-zero appliances and even custom wall paper.

Meandering through this elegant estate, the residents will also be able to appreciate such fine attention to details as coffered ceilings, plantation shutters, hardwood floors, marble floors and even a personal elevator.

Other features that will make other buyers jealous that they didn’t nab this deal first:

Lovely fireplace
Ornate wall detailing
Stunning chandeliers
Enormous kitchen
Grand staircase
Magnificent garden tub
And more!

And there will never be a shortage of storage space in the garage, given that it can accommodate three cars.

Meanwhile, what South Florida luxury estate wouldn’t be complete without a tranquil heated pool in the backyard? And although dockage was not included, the buyers had the option of including it as part of the greater community.

And You Can’t Beat This Residential Community in South Florida!

Williams Island is beloved for its gorgeous and luxury real estate properties as well as its endless list of recreational amenities for residents.

Here you can enjoy a relaxing day at Williams Island Spa, spend a day shopping in some of the fine boutiques nearby or even enjoy a little friendly competition at the nearby tennis courts.

Perhaps you might prefer to spend a day on the water with the services offered at the nearby 99-slip marina or take your children to the local playground. You can do it all right here on Williams Island!

Allow Me to Help You With Your Next South Florida Home Purchase!

We really are thrilled about the recent sale of this elite townhouse in Aventura. Not only are the buyers getting an exceptional and one-of-a-kind piece of real estate but it’s also good for the local housing market.

If you’re interested in living in this high-end community, please contact me, Scott Patterson, today.

I would love to answer any questions you may have as well as tell you about available listings for sale in Aventura!

Until next time,

Scott

The Point of Aventura Expected to Get Large Scale Renovations Soon

access_timeJuly 14, 2014personScott Patterson

Talk about a major overhaul! The Point of Aventura, a luxury condominium with a track record for excellence, is about to receive some major renovations that will make it even more magnificent.

From the salon to the yoga studio, lobby to the garden room – there won’t be an inch of The Point that isn’t improved during this major renovation.

In the end, the residents of this community will be restored to a level of prestige and comfort that they’ve come to expect and deserve.

Flurry of New Luxury Condos Is The Driving Force Behind Renovations

According to the above video, The Point’s Master Board passed the large scale renovation project during a recent meeting.

A major driving force behind the renovations is the fact that the South Florida real estate market is seeing a flurry of new construction activity in the luxury condominium market.

This is putting pressure on existing condominiums to undergo large scale renovations in order to keep pace with area competition. For instance, the nearby Williams Island recently underwent a $5 million renovation of its spa and fitness center.

The results have been nothing short of incredible, with an overwhelmingly positive response from the residents and even a boost in property sales.

Now it’s The Point’s turn to undergo a major renovation that will significantly improve quality of life at this luxury South Florida condo.

Here is a breakdown of the renovations that are expected for the various sections of the building:

The Salon

More square footage
Elevated ceilings with improved lighting
Resort level equipment
New retail area for products
Appropriate ventilation and exhaust to enhance the experience

The Spa

New sauna and steam equipment
Enhanced lighting throughout
Fully functional massage treatment rooms
Redesign of various amenities for improved layout

The Lobby

Modernized finishes
New reception area that’s strategically placed for better visual monitoring
Upgraded grand staircase
New multipurpose room

Garden Room

Upgraded lighting
Improved ceiling design for elegance and improved acoustics
New audio visual system with drop down projection screen
Multi-zone temperature and volume control

Upper Level

An independent exterior access point to public hallways that will prevent further interruptions in the garden room

Throughout the Building

Expanded and renovated yoga room
New multipurpose room
Dedicated Pilates room

Wow! That’s an lengthy list of improvements coming to The Point

I personally can’t wait to see how it all comes together.

It’s encouraging to see that community leaders are dedicated to improving quality of life for current and future residents.

What’s more, these luxury upgrades are sure to result in the skyrocketing popularity of this condo on the Aventura real estate market.

Now is An Ideal Time to Relocate to The Point Condos in Aventura

Be one of the first residents to enjoy all of these fabulous upgrades. Purchase a luxury South Florida condominium at The Point today!

Contact me, Scott Patterson, your South Florida real estate expert, now and I’ll be happy to assist you by answering all of your questions about this community as well as telling you about available listings here.

Until next time,

Scott

Report: Almost Half Of U.S. (and South Florida) Real Estate Transactions Are All Cash

access_timeJuly 10, 2014personScott Patterson

It’s a trend I have seen coming for a while here on the South Florida real estate market: all cash real estate deals are on the rise nationally.

According to recent data from RealtyTrac, all-cash deals represented 43 percent of all home sales during the first three months of 2014.

That’s a whopping 19 percent higher than it was a year earlier. And it’s also the highest level ever reported since RealtyTrac started collecting data in 2011.

South Florida Real Estate Market Mimics National Trends

Here’s what else RealtyTrac found about national real estate trends related to all-cash deals:

Cash home buyers paid an average of $207,668 for homes during the first quarter.
That figure is an average of 13% less than the properties’ average estimated value
Cape Coral, Fla., had the highest level of all-cash deals at almost 74 percent during the first quarter
The top five was rounded out by four other Florida cities: Miami (67 percent), Sarasota (65 percent), Palm Bay (64 percent) and Lakeland (62 percent).
Miami, New York, and California are attracting the most foreign buyers, most of whom are paying with all cash
In fact, in Miami, Latin Americans are putting down deposits that total 50% or more of the list price.

Experts credit these trends to these two main factors:

Stricter lending standards have made it more difficult to get a mortgage
Intense buyer competition means all-cash buyers have the upper hand.

Your Dedicated South Florida Realtor®

As I previously mentioned, I’ve been watching this trend grow for months on the South Florida real estate market. All-cash deals are definitely becoming increasingly common on the market.

Bottom line is that if you’re able to purchase a home with all cash, it’s a good route to take, especially if you’re in a competitive market like South Florida and you’re trying to secure the home of your dreams.

It’s an interesting real estate trend and I will definitely keep you posted as more develops on that front.

Regardless of how you want to finance your next home, however, I would love the opportunity to help you with your next home buying experience.

So contact me, Scott Patterson, today. I would be happy to answer any questions you may have as well as tell you about available listings in such communities as

Aventura
Hallandale
Sunny Isles

Until next time,

Scott

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

Build The Home of Your Dreams in Hollywood, Florida

access_timeFebruary 7, 2014personScott Patterson

Interested South Florida home buyers navigating the market have the rare opportunity to build the home of their dreams in Hollywood, Florida.

This is a unique and rare large waterfront lot, located at 1010 S. Northlake Drive, in the Hollywood Lakes section, this property is 85-feet-by-228-feet, which equates to about a half acre.

If you’re interested in living in South Florida but want the freedom to build your own home, this may be the perfect opportunity for you!

Hollywood, FL Real Estate For Sale

This lot in Hollywood Florida already has plenty to offer interested buyers.

This property features a new seawall and dock. It also boasts a desirable location with Hollywood Lakes, which is a popular and idyllic neighborhood.

What’s more, this property is located on S. Northlake, giving residents access to a sizeable lake that offers expansive water views. It’s great for privacy as well!

And here’s another bonus to living on Northlake: this body of water leads directly to the Intracoastal Waterway, with continuing access to the Atlantic Ocean. And with no fixed bridges along the way, it will be smooth sailing for you if you decide to spend an afternoon on the water.

Centrally-located in Hollywood, this property is also conveniently situated between all of the amenities that Fort Lauderdale and Miami have to offer.

Other amenities within walking distance include:

Hollywood Beach
Young Circle
Dining amenities
Shopping attractions
And more!

Plus, Hollywood-Fort Lauderdale International Airport is just a short distance away!

Helping You Invest in South Florida

If you’re interested in purchasing this beautiful lot in Hollywood, please make sure to contact me, Scott Patterson, your dedicated South Florida REALTOR®, today.

I’d love to answer any questions you may have as well as help you schedule a showing of the property.

Get a sneak peek now by checking out my aerial video of the property above!

Until next time,

Scott

3 Reasons Why Miami Beach Is Enjoying Plenty of Overseas Money

access_timeFebruary 5, 2014personScott Patterson

As I noted in one of my recent blogs, the South Florida real estate market is enjoying quite a healthy boom of new construction condominium projects.

And these projects are being spearheaded by interested foreign investors.

Why are foreign nationals deciding to invest their money here in South Florida? Here are the top three reasons:

Their foreign currency is stronger than the U.S. dollar, which means a greater return on investment for them
The South Florida real estate market is seen as a luxury destination for people all over the world
South Florida real estate is so depreciated in value from the last few years that it magnifies the kind of return on investment these foreign nationals can get.

More Details on the Foreign Investment Boom in South Florida

It hasn’t been the easiest last few years for the South Florida real estate market, as detailed by a recent article I was reading. For instance, condo values dropped a staggering 60 percent from their peak, according to the Miami Association of Realtors. And available credit for interested home buyers was hard to come by.

But there’s a Renaissance of sorts taking place on the South Florida real estate market. It’s breathing new life in to the market, and a lot of that is thanks to foreign investors.

Here’s a look at recent activity in the condominium market:

There are 118 condo towers proposed in the Miami area, which includes 35 under construction.
The 41 towers that are proposed for downtown will add 12,100 new units. Although that’s a departure from the 22,000 units that were built between 2003 to 2008, it’s still a remarkable improvement!
And recently, the Commerce Department released data that showed nationwide residential building permits increased to their strongest pace since June 2008.
The department further reported that about one in three building permits issued this year has been for the large multifamily communities.
In the South Florida region (which includes Miami-Dade, Broward and Palm Beach counties), about 70% of residential construction permits issued through October were for multifamily units.
Meanwhile, about 85% to 90% of new-construction buyers are foreign, mostly from Latin America.

Experts are saying that developers have been encouraged by strong international demand that usually results in cash-financing. This model is viewed as safer than bank loans.

Consequently, a lot of developers are increasingly relying on buyers’ deposits to fund construction, versus debt from banks.

Experts are also saying that Miami is a microcosm that is being reflected on that national housing market. In truth, more markets are turning to multi-family buildings like the ones we’re seeing in South Florida because it was the single-family home industry that dominated during the bubble years before the market crash.

Although it’s true that most national construction is still single-family homes, the uptick in recent construction activity has been dominated by multi-family homes.

Buying and Selling South Florida Real Estate

It is definitely an exciting time to be navigating the South Florida real estate market, and that’s thanks in large part to all the interest we’ve been receiving from foreign investors!

If you’re thinking about buying or selling a South Florida property anytime soon, it would benefit you to work with a REALTOR® that has a firm understanding of the local housing market and its dynamics.

So contact me, Scott Patterson, today! I have years of experience working in this area and have helped scores of South Florida residents just like you!

Until next time,

Scott

How the 3.8% Real Estate Tax for South Florida and the U.S. Really Works

access_timeFebruary 3, 2014personScott Patterson

Recently, the National Association of REALTORS® released a helpful statement about how health care reform does and does not affect real estate taxes.

Evidently, rumors have been circulating for months that the law contains a 3.8 percent tax on real estate.

In fact, the NAR has said that the tax does not target real estate and will likely not affect most home sales. That’s because this tax will only affect high-income households who experience substantial financial gains after an asset sale (including a home sale).

The National Association of REALTORS® went on to say that the tax would likely only affect 2 to 3 percent of home sellers.

Dispelling Rumors on the Real Estate Tax

Here’s what else the National Association of REALTORS® wants you to know about health care reform and how it affect real estate taxes:

The tax will affect few home sellers because there are a lot of criteria that must be met first for the tax to apply

First, the home sale gain on the principal residence must be greater than the $250,000 to $500,000 capital gains exclusion that’s in effect today. Please note, this says gain and not sales amount. Thus, it’s a pretty substantial profit margin.
Second, those homes that do see a gain of more than $250,000 to $500,000 (specifically $250,000 for single filers and $500,000 for joint filers) need only count the amount above the exclusion into the tax calculation. This would still only apply to high income households, which is defined by law as single people earning $200,000 a year. For joint filers, that figure is $250,000 a year.
Once that value is plugged in and if it’s seen as taxable, then the amount could be subject to a 3.8 percent tax.
Although the tax took effect in 2013, any impact on taxes would not happen until 2014 because the tax filer would do the calculation in 2014 for the 2013 tax year.
Finally, because this is not considered a tax on a real estate sale but rather on a capital gain, it would not be calculated at the time of closing. Rather it would be calculated at the time the individual files his or her taxes.

Of course, it’s important to check with a professional tax preparer about your specific situation but this is generally how the tax works.

Your Dedicated South Florida REALTOR®

Hopefully you now have some added clarity on what the health care reform tax on real estate does and doesn’t’ do.

For more information on this recent change as well as some perspective on how it may affect you as a South Florida home buyer or seller, make sure to contact me, Scott Patterson.

I will be more than happy to assist you with all of your South Florida real estate needs in such communities as:

Aventura, Florida
Hallandale, Florida
Sunny Isles, Florida
And others!

Until next time,

Scott

3 Reasons You’re Going To Love This Hallandale, Florida Rental Property

access_timeDecember 11, 2013personScott Patterson

I recently listed a rental property on the Hallandale Florida real estate market and I have to say – it’s going to be nearly impossible to find a unit this nice in the immediate vicinity.

This 630-square-foot property, located at 455 Golden Isles Drive #106, was completely gutted and remodeled in order to reflect the most modern standards in home design and architecture.

If you’re interested in renting real estate in the beautiful community of Hallandale, you may have just discovered your dream property!

More Information on Hallandale Real Estate

Here are three reasons why prospective residents are going to love this property in Hallandale:

It has a beautiful new kitchen designed for convenience and comfort
It is a first floor apartment with stunning views of the canal
Docks are available for lease

What’s more, this home features new flooring, a new bathroom, new impact windows and fresh paint! Plus, it’s the only apartment with a washer and dryer inside the unit.

Listed at $1,500, this property features 1 bedroom and 1 bathroom. Residents who want the furniture in the apartment to remain would lease the property for $1,900 a month.

Built in 1966, this condominium for rent also offers residents access to a swimming pool as well as waterfront views.

Hallandale, Florida: Welcome Home!

If you’re ready to take the next step toward renting this incredible property, then please contact me, Scott Patterson, today.

I’m your dedicated South Florida REALTOR and I’ll be happy to help you with all of your real estate needs!

Until next time,

Scott

French Top the Miami Real Estate Market for Most Interested Buyers

access_timeSeptember 12, 2013personScott Patterson

Move over Brazil, there’s a new international market that is newly interested in South Florida real estate.

According to a recent article I was reading, the French top the list for most consumers searching Miami area real estate.

This will undoubtedly have an impact on the local housing market as well as home seller strategy on attracting potential buyers.

South Florida Real Estate for Sale

The article I was recently reading noted that in June, the Miami Association of Realtors reported that France had moved into the top spot for consumers searching Miami homes on Miamire.com.

The association also announced that foreign consumers have become increasingly interested in Miami real estate.

Here’s what else the Association recently discovered:

This marks the second time this year that French consumers topped such a list. The last time this happened was in April.
Experts credit the surge in French interest to the fact that Miami has been exhibiting at the Paris expo every year since 2005, which has grown interest.
French buyers consistently rank in the top seven countries investing in Miami real estate, making it higher than any other European country.

The association also revealed the other top countries searching for South Florida real estate on Miamire.com, which is the Miami Association of Realtors Property Search. They are:

France
Brazil
Canada
Venezuela
Argentina
Colombia
India
Germany
Mexico
United Kingdom
Italy
Belgium

Experts also pointed out that this is the first time that Belgium even made an appearance on the list.

Your South Florida Real Estate Experts

So what does all of this mean to the average South Florida home seller? It means that there’s a broader prospective home buyer market to advertise too besides just domestic consumers.

It also means that it’s important for sellers to effectively use marketing materials to reach potential sellers all over the world.

This is made easier when home sellers work with seasoned South Florida real estate experts like me, Scott Patterson.

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

I’ll be more than happy to assist you as a home seller by offering valuable insight, intuitive home-selling resources and more!

Until next time,

Scott

South Florida is a Great Place to Live Right Now!

access_timeSeptember 6, 2013personScott Patterson

The news from the South Florida real estate market has been exceptionally positive lately.

One recent article noted that the area’s economy has been improving quite noticeably lately, emerging from the global recession stronger than before.

Today, I’m going to tell you about how our local economy is showing gains lately.

The Economy is Rebounding in South Florida

First, let’s start with the real estate market. According to the recent article I was reading, the housing market is hot once more, with home demand and home prices on the rise.

Meanwhile, condo developers are revving up activity once more.

The Miami Herald article also noted that the hospitality and tourism business is improving, with activity steadily increasing since 2010.

As of 2012, record numbers of visitors had stayed in area hotels. And experts believe that this year’s numbers are going to surpass even that!

The local economy is also seeing diversification, with Miami increasingly becoming a technology and healthcare hub.

Meanwhile, the area is also seeing a lot of key development, such as the recent Miami International Airport expansion and the Port of Miami tunnel development.

Other key developments that have been in the news recently include the Verizon NAP of the Americas in downtown Miami, the proposed new Miami Beach Convention Center and more!

Miami is also becoming well known for being a place to come as an entrepreneur.

For instance, the Global Entrepreneurship Monitor U.S. Report showed that Miami is 30 percent more entrepreneurial than the rest of the country.

Relocating to South Florida

As you can see, there are many different reasons to want to live in South Florida, from its diversified local jobs market to its thriving real estate market.

If you’re interested in making South Florida your permanent home, please contact me, Scott Patterson, today.

I’ll be more than happy to assist you by offering you valuable advice as well as such useful home-buying resources as:

Until next time,

Scott