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Tag Archives: Waterfront properties

South Florida Real Estate Market Update

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Last time I discussed with you a trend on the South Florida real estate market in which home prices are dropping and South Florida home buyer interest is rising.

Today I’d like to discuss with you a recent report by Zillow.com that further breaks down the drop in South Florida home prices.

Zillow.com is a Seattle-based company that studies real estate trends all across the country.

South Florida Homes for Sale

According to the recent report by Zillow.com, South Florida home values decreased by 12.8 percent during the first quarter of 2011 when compared to the first quarter of 2010.

Compared with the 25 largest metropolitan areas, the South Florida area (which includes Palm Beach County, Broward County and Miami-Dade County) ranked number five for steepest drops in home values.

Detroit and Atlanta tied for the largest annual decline in home values at 17.3 percent.

Here’s what else the real estate website reported about our South Florida real estate market:

  • South Florida home values have dropped to 2002 levels.
  • Miami-Dade and Broward County home values are less than half of what they were five years ago.

And although Zillow.com previously predicted that the national housing market would bottom out by late 2011, experts are now saying that the housing market won’t bottom out until 2012.

Since Florida’s housing market crashed before much of the rest of the country, my prediction is that our housing market will bottom out earlier than that.

Purchasing a South Florida Home for Sale

The news from Zillow.com is likely grim news for South Florida home sellers looking to get a great price for their South Florida home for sale.

But for South Florida home buyers, conditions are just right to enter the South Florida real estate market.

For more information contact me today to further discuss your options on the South Florida real estate market as a South Florida home buyer.

Feel free to browse some of our amazing residential communities in South Florida online.  These include:

Until next time,

Scott

National & International Exposure of South Florida’s Premiere Island on Fox News

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Island Estates Fox News Shepard Smith / Phil Keating

It’s been a good year for one of my listings in Aventura, Florida.  Matter of fact, it’s been a great year!

Considered the last developable island in South Florida, the 8-acre island is located between Miami Dade and Broward counties.  It offers potential buyers scenic views of the Intracoastal waterway, not to mention unbeatable privacy.

It’s listed for $49.5 million on the South Florida real estate market.

Since we put the island on the market, we’ve received plenty of coverage in the media – from a front page article in the Miami Herald to an extended feature segment on Fox News.

South Florida Real Estate

Thinking about entering the South Florida real estate market as a South Florida home buyer? Then contact me, Scott Patterson.

I’ll help make your South Florida home buying experience easier with such South Florida real estate resources as:

Until next time,

Scott

 

 

 

Island Estates Fox News Shepard Smith / Phil Keating from Scott Patterson on Vimeo.

South Florida Real Estate Market Update for First Quarter, 2011

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Our South Florida real estate company is expected to sell more total South Florida properties this year than ever before , according to Ron Shuffield, president of our company, Esslinger-Wooten-Maxwell, Inc. Realtors

Here’s some of the  South Florida real estate market news Ron recently shared with us:

  • Miami home and condo sales in the first quarter are up by 38 percent year over year.
  • Broward County home and condo sales in the first quarter are up by 9 percent year over year!
  • There is 55 percent less South Florida property inventory than three years ago.

All of this is great news for both South Florida home buyers and South Florida home sellers.

For South Florida home buyers, it means that they can find great deals on homes on the South Florida real estate market. After all, the median sales price has been steadily dropping over the last four to five years.

For South Florida home sellers, it means that the market will soon begin shifting in their favor.  Think about it:  the more home sales there are, the less inventory there is on the South Florida real estate market.

That scarcity of homes for sale, coupled with the demand for South Florida real estate, means that home prices will start to climb once again.

Learn more about the current state of the South Florida real estate market by watching the below video from our company’s president.

Entering the South Florida Real Estate Market

If you’re thinking about 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.

I’ll provide you with a number of invaluable South Florida real estate resources and help make navigating the South Florida real estate market easier for you and your family.

Until next time,

Scott

South Florida Waterfront Property Values Holding Strong

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A recent article in The Miami Herald addressed property value trends in different segments of the South Florida real estate market.

The article found that while distressed properties in Miami-Dade County are pulling sales prices down in some South Florida areas, new construction and non-distressed resales are actually doing quite well!
The segment of the South Florida real estate market that is doing best, according to a well know property appraisal firm, are the non-distressed resales in the coastal communities of Miami-Dade County.

In that segment of the South Florida real estate market, sales are comparable to 2005 levels.

And if you don’t consider the area’s foreclosures and short sales, sale prices are steady.

South Florida Real Estate Market

Here’s some of the other South Florida real estate market data that the Miami Herald recently reported:

  • There were 5,101 existing home sales in the first quarter in the South Florida coastal market.  This is the highest it’s been in five years.
  • The average sales price for non-distressed home in the coastal communities of Miami-Dade County was $482,870, which is an increase of about 0.4 percent.
  • List prices and sales prices are more closely matching up now.  For instance, the difference between list and sales price went from 11.6 percent last year to 8.3 percent this year.

All of this means that the South Florida real estate market is starting to return to stable conditions in which it’s not skewed toward a buyer’s market. This is no doubt great news for South Florida home sellers.

Listing Your South Florida Home for Sale

If you’re thinking about selling your South Florida home, then contact me, Scott Patterson.

As your South Florida real estate expert, I have real estate experience in several of the South Florida communities, including Aventura, Bal Harbour, Davie, Hallandale, Hollywood, Golden Beach and Sunny Isles.

When you list your South Florida home with me, I’ll work hard to ensure that we get the best sales price on your home and in as little time as possible.

Until next time,
Scott

Brazilians Play a Major Role in the South Florida Real Estate Market, Reports Show

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Brazilians are playing an increasingly important role on the South Florida real estate market, according to recent South Florida real estate market data.

Although Brazilians have been investing in Miami real estate since at least the 1990s, there seems to have been an increase in recent years.

This trend is partly because of the favorable currency conversion rate as well as increased Brazilian spending power, experts say.

Here are some more recent findings as they relate to Brazilian home buyers on the South Florida real estate market:

  • According to a recent Franklin Templeton survey of foreign investors,  70 percent of  Brazilians surveyed said they plan to invest money overseas this year.
  • Miami is ranked 8th for foreign investment in real estate in the United States.  New York, Washington, DC, Boston and San Francisco are the top places for foreign investment.

Investing in South Florida Real Estate

In addition to a favorable conversion rate, there are plenty of reasons to explain why so many Brazilians are choosing to invest in South Florida real estate:

Purchasing a South Florida Home or Condo for Sale

Have you recently been considering relocating to South Florida? If so, you’ll want an experience South Florida REALTOR to guide you through the process.

Contact me, Scott Patterson, today to learn more about all of the South Florida home buyer resources we offer to South Florida home buyers, including:

Until next time,

Scott

Scott Patterson featured on Fox News Today On South Florida Real Estate Story

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When the last developable island goes on the market, it’s big news here in South Florida.

My listings of the 8-acre island in Aventura, FL was recently a cover story in the Miami Herald.

Now, a national cable news program is covering this amazing opportunity on the South Florida real estate market as well!

Fox News Broadcasting Live from North Island in Aventura, Florida All Day Today

I’m thrilled to announce that Phil Keating of Fox News will be broadcasting a story on South Florida Real Estate live from North Island at Island Estates all day today.  This coverage will also feature interviews with yours truly as well as aerial views of North Island.

The program will run from 10 a.m. to 8 p.m. today.  Fox news will be doing Liveshots every few hours.

Tune in at approx. 11 a.m. every few hours until 8pm to  see one of the best pieces of property available on the South Florida real estate market today.

South Florida Real Estate

Thinking about selling your South Florida home?  I can help!  Not only do I have experience selling single-family homes and condominiums in South Florida, I can also say I have experience marketing entire islands on the South Florida real estate market!

Contact me, Scott Patterson, your South Florida REALTOR,  to learn more about all of the amazing South Florida home seller services I provide, including:

Until next time,

Scott

 

Exclusive Golden Beach Home Sells for Record Price in South Florida

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Pleased to announce I just “Sold and Closed” 419 Centre Island in Golden Beach Florida 33160 for a record sales price last week.

Here’s a snapshot of this successful South Florida real estate sale, which closed last Friday:

  • Sales Price: $6,300,000
  • Close Date: April 14, 2011
  • International Buyer from Brazil
  • Year Built: 2000
  • Size: 5 bedrooms, 6 bathrooms
  • Square Footage: 9,663 square feet
  • Fact: Highest sales price for an Intracoastal waterfront home in Golden Beach since 2007.

 

Relocating to Golden Beach, Florida

Situated on the Miami-Dade and Broward County line, Golden Beach Florida is an exclusive place to call home.

Not only is this elite community a lot more tranquil than the bustling city of Miami, but it’s also within minutes of such fine recreational amenities and regional attractions as:

  • The Golden Beach “Private Beach Pavilion”
  • The Shoppes of Bal Harbour
  • Aventura Mall
  • John Tweddle Park
  • Miami International Airport
  • Fort Lauderdale-Hollywood International Airport
  • South Beach
  • And more!
Golden Beach is also considered one of the most exclusive communities in South Florida.  With only 370 exclusive single-family luxury homes, there’s a select few that are privileged enough to have a Golden Beach address.

 

Search Available Listings in the Golden Beach Area Today!

If you would like to learn more about available listings in the Golden Beach area, then contact me, Scott Patterson, your South Florida real estate expert.

While you’re at it, feel free to check out some of the other exquisite communities near Golden Beach, including:

In each one of these communities, you’ll find top-notch single-family and condominium living options.

And with my brand new South Florida real estate web site, you can now search by price range. It’s just one of the many services we provide to South Florida home buyers to help make navigating the South Florida real estate market easier.

Until next time,

Scott

New South Florida Real Estate Website Unveiled to Help South Florida Home Buyers and Sellers

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I  have some exciting news for interested South Florida home buyers and home sellers. We recently redesigned our website to make it easier for you to navigate the South Florida real estate market!

Here’s a look at some of the features we recently added or improved:

Personalized South Florida Real Estate Service

I strive to give every interested South Florida home buyer and home seller the best service possible.   That’s why we also added some of these social features to our website that helps us stay connected to you:

Thinking About Entering the South Florida Real Estate Market?

With our newly designed website, it’s never been easier to navigate the South Florida Real Estate market!

Contact me, Scott Patterson, your Aventura area real estate expert today, to learn more about what we can do for you.

Until next time,

Scott

South Florida Home and Condo Sales Start Strong in 2011

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The year 2011 is off to a good start in the South Florida real estate market, according to a recent article in The Miami Herald.

The number of luxury condominiums and home sales in South Florida is resembling those levels seen in 2005. In fact, sales figures in Miami-Dade and Broward counties haven’t been this high in five years.

There were 1,262 sales of existing condos in Miami-Dade County in January, which is a 134 percent increase from January 2010, according to the Miami Association of Realtors

In Broward County, there were 1,318 condo sales in January, which is a 27 percent from the same month last year.

Single-family home sales in Miami-Dade and Broward counties increased by  55 percent and 18 percent respectively from January 2010.

A Shift to a Home Sellers Market?

Although area foreclosures continue to pull the median sales price for South Florida homes downward, experts are saying that the increased activity in South Florida home sales as well as the shrinking inventory of homes on the market may have a counter effect.

As South Florida home prices begin to rise, the market might switch from being a buyer’s market to a seller’s market.

South American buyers, enjoying a favorable conversion rate to the U.S. dollar, are expediting this switchover by investing in the South Florida real estate market in large numbers.

Still, the South Florida real estate market seems to be a buyer’s market at this point, as evident by some recently released data:

  • The median sales price on Miami-Dade condos was $91,200 in January, which was a decrease of 36 percent from 2010.
  • In Broward County, the median sales price rose slightly – by 2 percent – to $68,900.
  • The median sales price for Miami-Dade single family homes fell 18 percent to $150,800 when compared to January 2010.
  • The median sales price for Broward County single family homes dopped by 5 percent to $165,100.

Ready to Enter the South Florida Real Estate Market?

If you’re the kind of home buyer who loves a good deal, now is a great time to enter the real estate market.  Prices are still low, more financing has opened up and interest rates are still at record lows.
Recent signs in the market, however, suggest that the South Florida real estate market is shifting toward a seller’s market.  Once that happens, prices on luxury condominiums and homes will inevitably rise.
Contact me, Scott Patterson, your Aventura real estate expert, today to learn about available listings in some of our luxury Aventura condominiums, including:

While you’re at it, feel free to check out some of the other amazing South Florida communities, including Bal Harbour, Golden Beach, Hallandale and Hollywood.

Nationally Acclaimed Asset Management Company Invests in Aventura, Launches South Florida Portfolio

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The South Florida luxury condominium real estate market might never look the same again.  ST Residential, a renowned asset management company with $4.5  billion worth of real estate investments nationwide, recently announced that it would be adding to its portfolio several South Florida condominiums , one of which is in Aventura.

According to a recent press release, ST Residential takes “a fresh look at the real estate market by rethinking everything from the ground up.”

The company manages a public-private partnership between the FDIC and several private equity investors, including Starwood Capital and Perry Capital.

In the South Florida real estate market, ST Residential recently added the following communities to its portfolio:

  • ARTECH, a gorgeous community in Aventura
  • Jade Ocean, a stellar condominium community in Sunny Isles
  • Tao, a high-end community in suburban Sunrise
  • Infinity, which is located in downtown Brickell
  • Mint, which features luxury residences in the heart of  Miami
  • Paramount Bay, which is coming soon

Luxury Condominiums in Aventura, Florida and Surrounding Areas

Built in 2008, ARTECH is a beautiful community in Aventura Florida that features studios, one-, two-, and three-bedroom residences.  Square footage in this waterfront community ranges from 913 to 2,814 square feet.  So whatever size family you have, you’re sure to find a home that suits your needs at ARTECH.

As a resident of ARTECH, you’ll have access to such amenities as:

  • Waterfront infinity edge pool
  • Two tennis courts
  • Fully equipped fitness center and spa
  • Yoga terrace
  • Business Center
  • 24-hour security
  • Concierge
  • And more!

This community is already an amazing place to live.  Thus, with ST Residential’s recent investment in this Aventura condominium community, life should only get better for ARTECH residents.

Learn More About the Aventura Real Estate Market Today!

In addition to ARTECH, there are plenty of luxury condominiums in Aventura Florida, including Hamptons South, Hidden Bay, The Point and Williams Island.

In addition to resort-style amenities, these communities offer you easy access to some of the best attractions that Aventura has to offer, including:

  • Aventura Mall
  • Amazing shopping, dining and entertainment options in the downtown
  • Aventura Arts & Cultural Center
  • Some of South Florida’s most beautiful beaches
  • And much more!

If you would like to learn more about living in this amazing South Florida community, then contact me, Scott Patterson, your South Florida Real Estate Expert.

I’ll let you know about any available listings in Aventura’s wonderful condominium communities and will also answer any questions you might have.

To help make entering the Aventura real estate market easier, I recommend you check out my Buyer FAQs as well as my FREE Buying South Florida Real Estate Ebook.