Weston, Florida Home Sales From October 2011 to January 2012
Posted by Susan J. Penn
Weston Hills - The community of Weston Hills inside of Weston, Florida seemingly, is the talk of the town for it's glamour and sophistication! According to Bloomberg Newsweek, Weston is the city in Florida with the best increase in value! This fabulous golf course neighborhood offers two exclusively planned 24-hour gated entryways on the north and south sides. Weston Hills embraces sweeping views of its manicured outdoor recreational gounds from stunning golfing views to scenic sparkling lake views and nature preservation views in a private and peaceful atmosphere. Come live where you want to be and experience first hand these spacious Mediterranean homes inside 29 Weston Hills single family residential developments. Embrace the beautified fairway settings and step up to the tee! Weston Hills golfing is located along the georgous Robert Trent Signature Golf Course or surround yourself with an enchanting combination of fantastic golf course and stunning shimmering lake views from premium single family Mediterranean style residences. The community of Weston Hills may also feature exquisite residences along lush tropical garden scenery. Weston Hills Real Estate offers a wonderful resort lifestyle for families in their own neighborhood. The prestigious community of Weston Hills is home to Weston Hills Golf and Country Club offering recreational amenties and social entertainment for its residents. View Weston Hills Real Estate For Sale.
Weston Hills Country Club is an extravagant 50,000 square foot club house for relaxing with friends, social gatherings, along with having outdoor activities and amenties such as a tennis pro shop, eight tennis courts, fitness facility and sparkling blue olympic size swimming pool. Weston Hills entertains two18-hole picturesque championship golf courses built around wonderous glimmering lakes and preserves. Both golf courses were designed by Robert Trent Jones, and bring a taste of paradise to the Weston Hills community. The acclaimed golf courses are named Tour Course and Players Course. Each of these courses extend over 7000 yards and are sites for beginner golf tournaments.
Elegant breathtaking residences inside Weston Hills are designed around two stunning golf courses. Weston Hills has a variety of housing inside the impressive two 24 hour manned guard gated entryways on either end of Royal Palm Boulevard. This wonderfully refined neighborhood of housing comprises golf view properties, lake view and garden view homes.
Weston Hills located in Weston, Florida has various desirable villages joined by an inclusive private gateway including: Bay Isle, Bay Pointe, Cypress, Eagle Run, Eagle Watch, Edgewater, Fairways, Grand Oaks, Harbor Pointe, Harbor View, Hunters Pointe, Jardin, The Laurels, Mayfair, Meadowood, Montclaire, Monterey, Oakbrook, Poinciana, Princeton, Provence, The Pointe, Reserve, Retreat, Riviera, Royal Palm, Water Oak, Victoria Isle, Victoria Pointe. View Weston Hills listings for sale.
Bay Isle - ( Built in 1996-1998) Nestled among the majestic oak trees, inside Bay Isle Drive and Bay Isle Court in Weston Hills, are the pleasing 50 properties of Bay Isle, a maintained community that includes lawn service, with desirable lake views, magnificent Weston Hill Golf Course back yard views and some amazing residential properties with picture perfect golf views and tranquil lake views. Bay Isle has both one and two story homes, having approximately 2,400 living square feet to over 2,800 square feet of living space with 3 bedrooms and 2 bathrooms, 3 bedrooms and 3 bathrooms, and 4 bedrooms and 3 bathrooms containing 2 car garages. The lots range in size from about 7,400 square feet to over 11,000 square feet. View Weston Hill's Bay Isle Real Estate For Sale.
Bay Pointe - ( Built in 1998-1999) This is wonderful maintained community including lawn care, surrounded among grand oak trees. Inside Bay Pointe Court and Bay Pointe Drive in Weston Hills, are the pleasing 51 properties of Bay Pointe painted in beidge with sparkling lake views and peaceful delightful garden views. Bay Pointe has one and two story homes having approximately 2,300 living square feet to over 2,500 square feet of living space with , 3 bedrooms and 3 bathrooms, and 4 bedrooms and 3 bathrooms containing 2 car garages. The lots range in size from about 8,800 square feet to over 10,000 square feet. View Weston Hill's Bay Pointe Real Estate For Sale.
Cypress - (Built in 1994-1995) The spacious and georgous 35 Cypress pool luxury properties situated on Royal Palm tree lined roadways of Cypress Lane and Cypress Manor inside Weston Hills will delight you. Truly amazing golf views, glorious lake views and serene garden views are within the 4 bedroom 3 bathroom, 5 bedroom 3 bathroom, 5 bedroom 4 bathroom residences, 2 car garages and 3 car garages with lots ranging in size from approximately 16,000 to 20,000 square feet. View Weston Hill's Cypress Real Estate For Sale.
Eagle Run - ( Built in 1996-2002) This wonderful community of 165 Eagle Run homes is touching the 7th Fairway of Weston Hills Golf Course. Drive carefully through this community as the golf carts pass by the inner roadways. Enjoy your ride in the neighborhood filled with rich Royal Palms positioned along the thoroughfares of Eagle Run Court, Eagle Run Drive, Eagle Run Lane and Eagle Run Way. These elegant properties, mostly with backyard pools consist of one and two story homes, having approximately 2,600 living square feet to over 4,700 square feet of living space with 4 bedrooms and 3 bathrooms to 5 bedrooms and 3 bathrooms, 5 bedrooms and 4 bathrooms,6 bedrooms 4 bathrooms, 6 bedrooms and 5 bathrooms, 7 bedrooms and 4 bathrooms and 7 bedrooms 5 bathrooms with 2 car garages and 3 car garages,with garden views, lake views, or golf views and lots ranging in size from about 9,900 square feet to over 18,000 square feet. View Weston Hill's Eagle Run Estate For Sale.
Eagle Watch - ( Built in 1995-1997) Eagle Watch's 68 elegant properties have the distinct pleasure of being positioned on Weston Hills Golf Courses 8th Fairway. Golf carts from Weston Hills Golf course have a direct pathway in this community of wonderful homes. Regal Royal Palms are found inside the roadways of Eagle Watch Drive and Golf View Drive. These elegant properties consist of one and two story homes, having approximately 2,600 living square feet to over 4,000 square feet of living space with 4 bedrooms and 3 bathrooms to 5 bedrooms and 3 bathrooms, 6 bedrooms and 3 bathrooms and 7 bedrooms and 4 bathrooms with 2 car garages and 3 car garages, with garden views, lake views, or golf views and lots ranging in size from approximately 9,600 square feet to over 19,000 square feet. View Weston Hill's Eagle Watch Real Estate For Sale.
Edgewater - ( Built in 1994-1996) The Edgewater 68 residences of Weston Hills is superbly appointed with magnificent oak trees inside Edgewater Court and Edwater Drive. A common playground including a white sandy volleyball court, basketball court, and tot lot are a fabulous addition to this neighborhood. Positioned with enchanting lakes and wonderful garden views, Edgewater properties feature one story homes, with approximately 2,600 living square feet to over 3,200 square feet of living space with 4 bedrooms and 2 bathrooms, 4 bedrooms and 3 bathrooms, 4 bedrooms 4 bathrooms, 5 bedrooms and 3 bathrooms containing 2 car garages and 3 car garages. The lots range in size from about 10,000 square feet to over 20,000 square feet. View Weston Hill's Edgewater Real Estate For Sale.
Fairways - ( Built in 1992-1993) This Weston Hills neighborhood of the Fairways residential properties is set amid the queen palms path along the roadway. This tranquil prestigious location on Pinehurst Drive with Weston Hill Golf Course back yard views and certain properties with golf views combined with lake views is filled with one and two story homes, having approximately 3100 living square feet to over 6000 square feet of living space with 3 bedrooms and 3 bathrooms, 4 bedrooms and 3 bathrooms and 4 bedrooms 4 bathrooms having light beige painted outside with light beidge and light gray roofs containing 2 car garages and 3 car garages. The lots range in size from about 8000 square feet to over 17,000 square feet. View Weston Hill's Fairways Real Estate For Sale.
Grand Oaks - ( Built in 1992-1993) This wonderful community of Grand Oak's 61 homes is right next door to Weston Hills golf course. Enjoy your drive through the community filled with wonderous oak trees, filled with one and two story homes, having approximately 2600 living square feet to over 3000 square feet of living space with 4 bedrooms and 3 bathrooms to 5 bedrooms and 3 bathrooms with 2 car garages, lake views, lake views and golf views or golf views with lots ranging in size from about 9000 square feet to over 10,000 square feet. View Weston Hill's Grand Oaks Real Estate For Sale.
Harbor Pointe - (Built in 2001-2002) Harbor Pointe's spectacular 40 residential properties inside Weston Hills are displayed with magnificent Royal Palms flowing through the front pathways on Harbor Point Circle and Light House Court. These fabulous homes with spectacular lake views and wonderful garden views are filled with one and two story homes having 4 bedrooms 3 bathrooms, 5 bedrooms and 5 bathrooms and 6 bedrooms 6 bathrooms with approximately 2,700 square feet to over 4,300 square feet of living space with pavered driveways, 2 and 3 car garages and lot sizes ranging from 9,000 square feet to over 14,000 square feet. View Weston Hill's Harbor Pointe Properties For Sale.
Harbor View - ( Built in 2000-2002) This elegant Weston Hills neighborhood of Harbor View residential properties is appointed with queen palms pathways along Harbor View Circle and Mariners Lane. These 115 tranquil properties encompass glimmering lake views and tropical garden views. Harbor View has both one and two story homes, having approximately 2,000 living square feet to over 3,700 square feet of living space with 3 bedrooms and 3 bathrooms, 4 bedroom 2 bathrooms, 4 bedrooms and 3 bathrooms, 4 bedrooms 4 bathrooms, 5 bedroooms, 4 bathrooms, 6 bedrooms 3 bathrooms, 6 bedrooms 4 bathrooms and 7 bedrooms 5 bathrooms containing 2 car garages, 3 car garages and 4 car garages. The lots range in size from about 7,000 square feet to over 17,000 square feet. View Weston Hill's Harbor View Real Estate For Sale.
Hunters Pointe - (Built in1999-2007) This Weston Hills wonderful neighborhood of the Hunters Pointe consists of both Hunter Pointe I on the south side and Hunters Pointe II toward the north side . Hunter's Pointe park features a basketball court and a children's play ground with yellow slides and swings in a white sandy fun area to play in. These fabulous properties overlook relaxing lake views and attractive garden views. Enjoy your drive through the community filled with wonderous royal palms, filled with one and two story homes, having approximately 2300 living square feet to over 3200 square feet of living space with 4 bedrooms and 2 bathrooms, 4 bedroom and 3 bathrooms, 4 bedrooms and 3 bathrooms to 5 bedrooms and 3 bathrooms, 5 bedrooms 4 bathrooms, 5 bedrooms 5 bathrooms, 6 bedrooms 4 bathrooms, 6 bedrooms 5 bathrooms, 7 bedrooms 5 bathrooms. Park your car in a 2 car garage or 3 car garage with pavered driveways.The lots range in size from about 8,000 square feet to over 17,000 square feet. View Weston Hill's Hunters Pointe Real Estate Listings For Sale.
Jardin - (Built in 1995-1999) Georgous Mediterranean homes inside Jardin's 93 Weston Hills properties accompanied among a park with a basketball court and toddler playground with wonderful slides and swings.The streets are aligned with Royal Palms towering Jardin Court, Jardin Drive, Jardin Terrace and Jardin Way. Situated on enchanting lakes, located on premier golf course views and set up with wonderful garden views, Jardin properties have both one and two story homes, with approximately 2,400 living square feet to over 4,000 square feet of living space with 3 bedrooms and 2 bathrooms, 3 bedrooms and 3 bathrooms, 4 bedrooms 2 bathrooms, 4 bedrooms and 3 bathrooms, 5 bedrooms 3 bathrooms, 5 bedrooms 4 bathrooms to 6 bedrooms 3 bathrooms containing 2 car garages and 3 car garages. The lots range in size from about 7,700 square feet to over 13,000 square feet. View Weston Hill's Jardin Real Estate For Sale.
The Laurels - (Built in 1992-1994) The Laurels luxurious neighborhood of 76 homes inside Weston Hills is quite extensive within the streets of Inverness, Medinah, Westbrook and Wentworth. Enjoy your drive through the community filled with wonderous oak trees, filled with one and two story homes, having approximately 3100 living square feet to over 5000 square feet of living space with 5 bedrooms and 3 bathrooms, 5 bedrooms and 4 bathrooms, 5 bedrooms and 5 bathrooms to 6 bedrooms 4 bathrooms and 7 bedrooms and 6 bathrooms, 2 car garages and 3 car garages with garden views, lake views, lakeviews and golf views or golf views with lots ranging in size from about 15,000 square feet to over 24,000 square feet. View Weston Hill's Laurels Real Estate For Sale.
Mayfair- (Built in 1992-1994) Mayfair's marvelous neighborhood of 31 homes inside Weston Hills is an elegant neighborhood with one and two story homes, having approximately 3500 living square feet to over 3800 square feet of living space with 4 bedrooms and 3 bathrooms, 4 bedrooms 4 bathrooms, 5 bedrooms and 3 bathrooms, 5 bedrooms and 4 bathrooms, 5 bedrooms 5bathrooms and 6 bedrooms and 3 bathrooms, 2 car garages and 3 car garages with garden views, georgous shimmering lake views, combination of wonderful lakeviews and great golf views or fabulous golf views with lots ranging in size from about 11,000 square feet to over 15,000 square feet. View Weston Hill's Mayfair Real Estate For Sale.
Meadowood - ( Built in 1994-1994) This Weston Hills lake view neighborhood of Meadowood residential properties is set amid the fine oak trees throughout the roadways of this subdivision. This santuary of 58 properties with peaceful lake views and private garden views is filled with one and two story homes, having approximately 2,700 living square feet to over 4,000 square feet of living space with 4 bedrooms and 3 bathrooms, 5 bedrooms and 3 bathrooms,5 bedrooms 4 bathrooms and 6 bedrooms 3 bathrooms containing 2 car garages and 3 car garages. The lots range in size from about 11,000 square feet to over 22,000 square feet. View Weston Hill's Meadowood Real Estate For Sale.
Montclair - (Built in 1997-1999) The Weston Hills Montclair community of 56 residential properties encompasses this wonderful neighborhood filled with regal royal palm trees. These fabulous properties with calming lake views in the middle of the development and on the south side, golf views on another side and landscaped garden view complete this elegant community. Montclair has one and two story homes, having approximately 3,300 living square feet to over 4,000 square feet of living space with 5 bedrooms and 3 bathrooms, 5 bedroom and 4 bathrooms, 6 bedrooms and 4 bathrooms to 7 bedrooms and 5 bathrooms with lots ranging in size from about 10,000 square feet to over 22,000 square feet. View Weston Hill's Montclaire Real Estate Listings For Sale.
Monterey - ( Built in 1995-1998) Monterey boasts their beautiful properties situated on Weston Hills Golf Courses 8th Fairway. Golf carts have direct access from Weston Hills Golf Course crossing pathways, as the carts grace the spectacular green playing course and glide along the distinguished streets in this secluded community of wonderful homes. The roadways of Monterey are surrounded with refreshing Royal Palms.These Mediterran properties consist of one and two story homes, having approximately 3,100 living square feet to over 4,300 square feet of living space with 5 bedrooms and 3 bathrooms, 5 bedrooms and 4 bathrooms and 6 bedrooms and 3 bathrooms with 3 car garages, with lake views, garden views, or golf views and lots ranging in size from approximately 10,000 square feet to over 17,000 square feet. View Weston Hill's Monterey Real Estate For Sale.
Poinciana- ( Built in 1995-199) Poinciana's Weston Hills neighborhood is fronted with royal palm trees path along the roadways. This georgous prestigious location on Poinciana Court and Poinciana Drive has scenic golf views, glittering lake views and delightful garden views. Poinciana's 71 one and two story homes, have approximately 3,700 living square feet to over 5,900 square feet of living space with 4 bedrooms and 3 bathrooms, 5 bedrooms and 3 bathrooms and 5 bedrooms 4 bathrooms, 5 bedrooms 5 bathrooms, 6 bedrooms 3 bathrooms, 6 bedrooms 4 bathrooms and 6 bedrooms 5 bathrooms containing 2 car garages and 3 car garages. The lots range in size from about 14,000 square feet to over 41,000 square feet. View Weston Hill's Poinciana Real Estate For Sale.
Princeton - ( Built in 1994-1997) These Ideal luxury pool properties of Princeton are a piece of the splendor inside Weston Hills Country Club. Envision your drive through Princeton Court covered with refined Royal Palm trees, filled with one story homes, having approximately 3,700 living square feet to over 4,700 square feet of living space with 5 bedrooms and 4 bathrooms, 5 bedrooms 5 bathrooms to 7 bedrooms and 5 bathrooms with 3 car garages, garden views, lake views and golf views or golf views with lots ranging in size from about 14,000 square feet to over 19,000 square feet. View Weston Hill's Princeton Real Estate For Sale.
Provence- ( Built in 1998-2001) Truly amazing Weston Hills neighborhood of Provence residential properties is set amid back yard pools and royal palm trees along the roadway. This tranquil prestigious location on Provence Circle and Provence Court allows lake views in the middle of the development, Weston Hills Golf Course back yard views and certain properties with garden views. Provence has one and two story homes, having approximately 3,400 living square feet to over 5,400 square feet of living space with 4 bedrooms and 3 bathrooms, 5 bedrooms and 3 bathrooms and 5 bedrooms 4 bathrooms, 5 bedrooms 5 bathrooms, 6 bedrooms 3 bathrooms, 6 bedrooms 5 bathrooms, 6 bedrooms 6 bathrooms, 7 bedrooms 6 bathrooms and 3 car garages. The lots range in size from about 14,000 square feet to over 18,000 square feet. View Weston Hill's Provence Real Estate For Sale.
The Pointe - (Built in 1991-1992) This Weston Hills golf course story book front entryway encompasses this wonderful neighborhood of the Pointe. Once inside, envision these wonderful properties with lake views and golf views. Enjoy your drive through the community filled with wonderous queen palms, filled with one and two story homes, having approximately 2,300 living square feet to over 3,200 square feet of living space with 3 bedrooms and 2 bathrooms, 3 bedroom and 3 bathrooms, 4 bedrooms and 3 bathrooms to 5 bedrooms and 3 bathrooms with lots ranging in size from about 8800 square feet to over 12,000 square feet. View Weston Hill's The Pointe Real Estate Listings For Sale.
The Reserve - ( Built in 1991-1994) The Reserve's queen palm tree-lined drive of Birkdale and Merion in this exquisite custom neighborhood of Weston Hills is remarkably stunning. Enjoy these exceptional quality homes with golf course back yard views, properties with golf views combined with lake views and garden views filled with one and two story homes, having approximately 4,000 living square feet to over 5,000 square feet of living space with 4 bedrooms and 4 bathrooms, 5 bedrooms and 3 bathrooms and 5 bedrooms 4 bathrooms containing 2 car garages and 3 car garages. The lots range in size from about 14,000 square feet to 18,000 square feet. View Weston Hill's The Reserve Real Estate For Sale.
The Retreat - ( Built in 2000-2002) This fabulous Weston Hills neighborhood of The Retreat residential properties greets you with a beautiful waterfall at its entrance way.The Retreat's road way is filled royal palm trees along its enlightening Santuary Drive.These 19 prestigious properties have Weston Hill Golf Course back yard views and certain properties enjoy both senic golf views combined with sparkling lake views. The Retreat is filled with one and two story homes, having approximately 3100 living square feet to over 6000 square feet of living space with 4 bedrooms and 5 bathrooms, 5 bedrooms and 6 bathrooms, 6 bedrooms 5 bathrooms and 6 bedrooms 6 bathrooms conmprising 2 car garages 3 car garages and 4 car garages. The lots range in size from about 14,000 square feet to over 18,000 square feet. View Weston Hill's The Retreat Real Estate For Sale.
Riviera - ( Built in 1994-1999) Enamor yourself with the amazing neighborhood of Riviera inside of Weston Hills! Riviera's distinct 28 prestigious properties display mansions along golf views, lake views and combined golf and lake views. Rivierais filled with one and two story unique georgous homes, having approximately 3,900 living square feet to over 9,300 square feet of living space with 5 bedrooms and 3 bathrooms, 5 bedrooms and 4 bathrooms, 6 bedrooms 5 bathrooms, 6 bedrooms 7 bathrooms, 7 bedrooms 7 bathrooms and 7 bedrooms 8 bathrooms comprising 2 car garages and 3 car garages. The lots range in size from about 22,000 square feet to over 34,000 square feet. View Weston Hill's The Riviera Real Estate For Sale
Royal Palm - ( Built in 1996-2000) Weston Hills exclusive Royal Palm's enclave of georgous properties is poised within the masterful mature Royal Palms trees along a magnificient stretch of Royal Palm Way. Inside this community you will discover a georgous waterfall in a park setting with a golfing tee. Backyard views of these renowned properties provides the perfect backdrop for Weston Hills signature golf course. The exquisite dwellings are filled with one and two story homes, having approximately 4000 living square feet to over 7600 square feet of living space with 4 bedrooms 5 bathrooms, 5 bedrooms 3 bathrooms, 5 bedroom 5 bathroom to 6 bedroom 5 bathroom, 6 bedroom 7 bathroom homes with 3 car garages and lots ranging in size from about 18,000 square feet to over an acre of land with 48,000 square feet. View Weston Hill's Royal Palm Real Estate For Sale.
Water Oak - ( Built in 1993-1994) This wonderful community of Water Oak homes filled with beautiful oak trees and encompassing wonderful senic golf views, tranquil lake views and a combination of golf and lake views. These elegant properties, mostly with backyard pools consist of one and two story homes, having approximately 2,600 living square feet to over 4,700 square feet of living space with 4 bedrooms 3 bathrooms to 5 bedrooms 3 bathrooms and 5 bedrooms 4 bathrooms and 2 car garages with lots ranging in size from about 11,000 square feet to over 20,000 square feet. View Weston Hill's Water Oak Real Estate For Sale.
Victoria Isle - ( Built in 2000-2002) Victoria Isle's 82 elegant properties are positioned within a park with a basketball court and toddler playground with red and yellow slides and swings amongst beautiful lake views and manicured garden views. These elegant properties consist of one and two story homes, having approximately 3,500 living square feet to over 5,600 square feet of living space with 4 bedrooms and 3 bathrooms, 5 bedrooms and 3 bathrooms, 5 bedrooms and 4 bathrooms and 6 bedrooms and 5 bathrooms with 3 car garages and lots ranging in size from approximately 13,000 square feet to over 23,000 square feet. View Weston Hill's Victoria Isle Real Estate For Sale.
Victoria Pointe - (Built in 2000-2001) Georgous Mediterranean homes mostly with backyard pools inside Victoria Pointe's Weston Hills properties accompanied among a park with a basketball court and toddler playground with slides and swings. Royal Palms trees are towering the streets of Victoria Pointe Circle and Victoria Pointe Lane. Victoria Pointe properties have both one and two story homes, with approximately 2,500 living square feet to over 4,200 square feet of living space with 4 bedrooms and 3 bathrooms, 4 bedrooms and 4 bathrooms, 5 bedrooms 3 bathrooms, 5 bedrooms and 4 bathrooms and 5 bedrooms 5 bathrooms containing 2 car garages and 3 car garages. The lots range in size from about 9,500 square feet to over 19,000 square feet. View Weston Hill's Victoria Pointe Real Estate For Sale.
Call Susan Penn, PA, EWM Realtor for additional information at 954-557-5993 www.susanpenn.com
The month of November is here! The weather starts changing and becoming cooler and we think of the holiday season approaching. We also know it’s time for Broward County’s 36th Annual Broward County Fair, 10300 Pines Boulevard, Pembroke Pines, Florida 33326.
Come enjoy walking through the tents seeing all of the farm animals; the rabbits, goats, pigs, cows, horses and more. You may delight in the eating aspect of the fair by trying out all of the favorite food booths such as; the funnel cakes, corn on the cob, corn dogs, barbeque chicken, cotton candyand other tasty treats. There are always the adventurous enjoying the fair rides such as the roller coaster rides, the ferris wheel, the tea cup ride with the swirling tea cups, the gavitron ride that holds you up with the force of gravity, fun houses, bumper cars etc… There are always great shows, attractions and competitions, so come on out to the fair!
This week, I, Susan Penn, PA a South Florida Realtor with Esslinger-Wooten-Maxwell, Inc. was pleasantly contacted by Venessa Wong , a reporter with Bloomberg Businessweek to discuss Weston, Florida’s real estate Market. Here is Venessa Wong’s article:
By Venessa Wong
Want to know how bad the real estate market is? Just drive down almost any street in the U.S. and you’re likely to see “for sale” signs lining the road. Come back a month later, it’s a good bet the same signs are still there—and quite possibly a few new ones, too. But while there’s a lot of housing pain, there’s also some good news. That’s because in some markets across the country not only have home values improved, a few have even seen double-digit growth.
So where is this miracle occurring? Believe it or not, the city that has seen the biggest increase in home value is in Florida. That’s right—the state that has seen home values plummet 52.3 percent from 2006 peak levels. Nearly 96,000 loans were modified in Florida through August 2011 under President Obama’s Making Home Affordable program. Joblessness, foreclosures, and high inventory hamper recovery in nearly every corner of the state, with rare exceptions. In this case, the rare exception is Weston, a high-income city of more than 65,000 people near Fort Lauderdale where the median home value has risen 15.1 percent to $280,000 from February 2009 to August 2011.
A survey of the 1,000 largest cities nationwide by online real estate marketplace Zillow for Businessweek.com identified the markets with the biggest gains and losses in home value, ranking Weston the best-performing city since Obama took office. In contrast, the U.S. median home value fell by 9.9 percent over the same period.
What’s behind Weston’s success? Ines Garcia, an agent for EWM Realtors in Weston, describes the city as “Broward County’s cul-de-sac.” “It’s like driving into a gated community: the landscaping, the manicuring all around the city,” she says. “We were very lucky. Weston was one of the last communities to fall and one of the first to recover.”
Other winners: Arlington, Mass., where the median home value increased by 14.8 percent since February 2009; Brookline, Mass., at 13.6 percent; and the D.C. suburbs of Burke, Va., at 13.5 percent, and Vienna, Va., at 12.8 percent, Zillow data indicate.
Of course, the winners are far outnumbered by the losers. The city with the worst-performing market in the survey is only 50 miles from Weston in Homestead, Fla., where the median home value dropped by 48.8 percent since February 2009. Rounding out the bottom worst-performing markets: former manufacturing city Pontiac, Mich., with a 47.4 percent decrease, and New Jersey capital Trenton, at 46 percent.
While those in depressed housing markets hope for solutions from the White House, “I don’t see how any President is responsible for the housing market in a particular area,” says Steven Blitz, director and senior economist at ITG Investment Research in New York. The federal government and national housing policies have a limited impact on a local level.
Obama Accountable?
The Obama Administration, the inheritor of a collapsed housing market and financial crisis, has tried to help the hardest-hit housing markets through refinancing and loan modifications. Yet individual markets are influenced heavily by local conditions, such as jobs, school districts, and population growth. Both the best-performing market, Weston, and the worst, Homestead, are in the Miami-Fort Lauderdale metro area, for instance. As housing trends at their core are hyperlocal, it makes it difficult to even craft regional solutions. Developing a catch-all national policy is even more challenging.
“The foreclosure prevention efforts by the Obama Administration have helped to slow the bleeding when it comes to foreclosures but have done little to help get the housing market off life support,” says Daren Blomquist, a spokesperson for RealtyTrac.
To stimulate buying, the housing industry has called on the federal government and lending institutions to facilitate mortgages to qualified home buyers. Rather than address housing specifically, says Jeffrey Lubell, executive director of the Center for Housing Policy, a research group in Washington, “the single most important thing that needs to be done now is get the economy back on track. Nothing can help housing more than putting people back to work.” The U.S. unemployment rate stood at 9.1 percent in September, according to the U.S. Bureau of Labor Statistics.
Job creation in the D.C. area, for example—driven by the government—helped nine cities in the capital region rise to the list of top 25 housing markets in Zillow’s research. The unemployment rate in the D.C. metro area was 6.2 percent in August, estimates the BLS.
“Housing will rise with jobs and income. Anything that improves confidence in the future trajectory of jobs and income will raise the arc of growth for housing,” says Blitz.
Weston, following patterns in the rest of the country, saw the median home value peak in 2006 at $478,000 before plunging. The median value bottomed out in May 2009 at $235,600, according to the Zillow Home Value Index, and has since climbed steadily.
By August 2011, the unemployment rate in Weston was down to 7 percent from a peak of 8.3 percent and the median home value had only recovered to $280,000, well below the peak. Still, among cities it was the best housing rebound in the last two and a half years. The foreclosure rate in September, about 1 in 338 housing units, remains far above the U.S. rate, though it is down 60.7 percent from a year earlier, show RealtyTrac data.
Helping this meticulously landscaped planned community—which offers bike trails, golf courses, scenic lakes, highly ranked schools, a low crime rate, and active homeowner associations—was a rebound in demand from young families, according to Susan Penn, an agent at EWM Realtors. The median household income is $78,030.
Weston also experienced an influx of middle- and upper-class immigrants from Venezuela and other parts of South America. The U.S. Census Bureau estimates the city’s foreign-born population increased to 43.9 percent in 2010 from 37.1 percent in 2006.
As Weston recovered some housing value, Homestead, a city only 50 miles south, was less fortunate. A Miami suburb and agricultural area with an Air Reserve Base, Homestead has struggled since being devastated by Hurricane Andrew in 1992. It has a poverty rate of 29.4 percent and median household income is $36,279 (lower than both the Florida and U.S. medians), according to 2009 Census data.
Lower-income areas and exurbs were generally hit harder by the recession. In Homestead, unemployment skyrocketed to 11.7 percent in August from 6.3 percent in February 2009, estimates the BLS. By August, the foreclosure rate remained high at 1 in 125 housing units and the median home value was 66.7 percent below peak at $76,600.
According to Zillow Senior Economist Svenja Gudell, under current conditions the median U.S. home value will likely fall another 3 percent to 5 percent and not reach trough until 2012 at the earliest. “We need to identify creative solutions,” such as repurposing foreclosed homes as rental housing, refinancing loans, and loosening credit, which involves many players, says Lubell of the Center for Housing Policy.
The Obama years have been bad ones for housing, yet government was not alone in breaking the housing market—and it cannot be alone to fix it.
Click here to see the 25 best- and 25 worst-performing housing markets under the Obama Administration.Wong is a lifestyle and real estate reporter for Bloomberg Businessweek.
Please contact Susan Penn, PA,EWM Realtor for Weston, Florida Real Estate information at 954-557-5993, penn.s@ewm.com ,www.susanpenn.com
South Florida is quite excited to receive the new Margaritaville Resort in Hollywood, Florida! This wonderful resort will be situated between Johnson Street and Michigan Street facing Hollywood's Board Walk all the way to the Intracoastal Waterway on a six acre site. We are looking forward to the Hollywood beach entertainment complex with an amazing 17-story hotel resort with its 349 hotel rooms, 15,500 square feet full-service spa and fitness area, convention space filled with 35,000 square feet, 25,500 square feet of restaurant and retail space, 22,604 square feet of ballroom space, a beautiful inviting lagoon pool and water slide pool, beach side cabanas, a marina,fishing and divive boat excursions fabulous restaurants, great entertainment and a new parking garage.
Hollywood's water taxis and trolley service will pick up and drop off passengers. Hollywood Beach Band Shell will be refurbished and portable seating will be available on the great lawn space.
Hollywood, Florida is a great place to live as there are intracostal homes directly on Biscayne Bay with access to the Atlantic Ocean, beautiful condominiums on Hollywood Beach such as Trumps georgous luxury condominium. You will love Hollywood's Boardwalk, the sand and surf combined with great tropical climate and sun filled days, restaurants, shopping and night life make this city a dream destination. Let your friends know this great resort is on the way!
For more information, contact Susan J Penn, PA, EWM Realtor at 954-557-5993
www.susanpenn.com
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Specializing in Miami-Dade and Broward County Luxury Residential Properties with care, concern and continued diligence. SFR and CDPECertified in Short Sale and Foreclosure Properties
Susan Penn, PA specializes in luxury real estate throughout South Florida in Aventura, Bal Harbour, Brickell, Coconut Grove, Coral Gables, Davie, Fisher Island, Fort Lauderdale, Golden Beach, Hallandale, Hibiscus Island, Palm Island and Star Island, Hollywood,Key Biscayne, Las Olas Boulevard, Miami, Miami Beach, Miramar, Parkland, Pinecrest, Plantation, Southwest Ranches, Sunny Isles Beach, Venetian Islands, Victoria Park and Weston, Florida! Please call Susan Penn, PA for all of your concerns and questions.
Susan Penn is a South Florida "Native", who has resided in Miami-Dade County and Broward County. Susan Penn is extremelly versed with South Florida! She loves helping South Florida Sellers and Buyers World-Wide with both Broward County Real Estate and Miami-Dade County Real Estate. Let Susan Penn's expertise assist you in discovering your perfect piece of paradise in these two spectacular South Florida Counties!
About EWM- Esslinger-Wooten-Maxwell, Inc.
Esslinger-Wooten-Maxwell (EWM)was founded in 1964, in South Florida, and is one of the largest real estate services firms in America, with home sales of more than $3 billion in 2006. Go to the site and look under agents, click on Susan Penn, and then email or call me!In 2003, Warren Buffet's Company, HomeServices of America, Inc., purchased EWM, making it an affiliated company of the Warren Buffet/Berkshires Hathaway Companies. Over the past thirty-five years, Warren Buffett has emerged as arguably the greatest investor in American history. An Investor, Businessperson, and Philanthropist, with an estimated current net worth of around US $52 Billion, Warren Buffet was ranked by Forbes as the third-richest person in the world as of September 2007.
Susan Penn is located in the EWM WESTON TOWN CENTER Office, and travels to use any of our other beautiful offices in South Florida. Our full-service firm with our own title company, mortgage company and insurance company makes one stop shopping very easy. EWM has 950+ associates and staff throughout 13 offices in Miami-Dade and Broward counties, located in Aventura, Brickell, Coconut Grove, Coral Gables, Downtown South Miami, Key Biscayne, Las Olas, Miami Beach, Pinecrest, Palmetto Bay, Ponce de Leon, South Miami, Southwest Broward, and Weston Town Center. EWM offers residential and commercial real estate services, corporate relocation, international services, and business brokerage as well as home mortgage, title closing services, and property insurance through their affiliated companies, HomeServices Financial, EWM Title, and EWM Insurance.
EWM is the exclusive Broward and Miami-Dade affiliate of Christie's Great Estates, the largest network of luxury independent real estate firms in the world and a subsidiary of Christie's International PLC, the London-based art auction company founded in 1766. With more than 500 offices and approximately 14,000 real estate agents in 15 countries, the affiliate members of Christie's Great Estates market the finest homes around the globe.
As one of the principal owners of the The Leading Real Estate Companies of the World, EWM is a member of the nation's largest real estate referral group, comprising more than 700 real estate firms across North America. Through joint alliances with their member firms, these affiliated real estate companies provide home buying and selling services to relocating families and individuals all across the continent.
EWM is also a charter member of Luxury Portfolio, a Fine Property Collection bringing together the finest luxury real estate, luxury properties, and luxury homes for sale in the world. The companies that make up Luxury Portfolio represent more million-dollar-plus transactions than any other single real estate organization. The Luxury Portfolio program is the flagship luxury offering from The Leading Real Estate Companies of the World TM, the international network of independent real estate organizations representing 650 firms and 160,000 associates worldwide, of which, EWM is proud to be a member and principal owner! RELO® Home Search, a comprehensive home search tool, enables you to search over 2 million local real estate listings in any area you are planning to relocate to.
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