daytona beach area real estate market news: Use earmark money for homebuyer tax credit? - 11/24/10 12:36 PM
WASHINGTON – Nov. 23, 2010 – Money saved by eliminating congressional earmarks should be redirected to re-establish the Homebuyers Tax Credit for another boost in home sales, U.S. Sen. Bill Nelson (D-Fla.) said Monday. The program last spring provided an $8,000 tax credit for qualified first-time homebuyers and a $6,500 credit for repeat homebuyers. A lackluster housing market is generally blamed for much of Florida’s economic malaise, with the critical construction industry hobbled by the downturn in the market. The tax credit was widely credited with the six percent jump in home sales – and the 42 percent increase in new … (0 comments)

daytona beach area real estate market news: Most Rare Opportunity of a Unique Riverfront Home! - 11/15/10 12:59 PM
Almost an acre of land on the intracoastal riverfront with dock and boathouse. The panoramic views from this home are truly awesome! This 4647 sq ft home has 3 suite areas. The first suite has 2 bedrooms with a full bath and views of the river. The Master suite is on the second floor and boasts a huge bathroom with soaking tub, his and hers vanities, walk-in closet, sitting area, 21 X 10 office and a second story veranda overlooking the river. A front row seat for sunrises and full moons over the intracoastal river. The third suite area is the … (0 comments)

daytona beach area real estate market news: Pending home sales slip - modest recovery in 2011 - 11/05/10 12:54 PM
 Pending home sales dropped out after two monthly increases, signaling an uneven recovery entering the year 2011 with few near term disruptions from the foreclosure moratoriuom, according to the National Association of Realtors ®. The report was published in 2010 Realtors ® Conference Expo in New Orleans. Index of pending home sales The (PASS), an indicator of research before, fell 1.8 percent to 80.9 based on contracts signed in September from an upwardly revised 82.4 in August. However, the rate remains 24.9 percent below a rise to 107.8 in September 2009 when the first-time buyers rose in the market to take … (0 comments)

daytona beach area real estate market news: More International Buyers for Florida - 09/26/10 11:57 AM
A number of factors have contributed to the decline in home sales nationally and in Florida in particular, but the growing importance of foreign buyers has offset some of the damage. About two of three real estate agents of the state had at least one international operation in the last year. While US buyers continue to struggle, foreign buyers generally consider the US real estate as a desirable investment, cost effective and safe. In addition, the weak dollar has made Florida real estate even more attractive recently. The National Association of Realtors ® in collaboration with real estate agents in Florida, … (2 comments)

daytona beach area real estate market news: Daytona Beach, FL - Sales for 2nd Quarter 2010 Show Significant Increase over 2009 - 08/15/10 11:19 AM
The Daytona Beach MSA showed a 35% rise in single family sales for the 1st quarter this year, compared to 2009.  2,607 homes sold, vs 1,924 last year.  Median price was $122,500 vs $132,500 last year.
For condos, 536 units sold, vs 373 last year.  Median price was $126,700 compared to $176,500 in 2009.
Statewide, as reported by the Florida Assn of Realtors, sales of existing single-family homes in rose 21% in second quarter 2010 compared to the same period a year earlier.  A total of 51,564 existing homes sold statewide in 2Q 2010; during the same period in 2009, a … (1 comments)

daytona beach area real estate market news: Florida Real Estate Sales Rise in June - 07/24/10 01:24 PM
Our Florida Realtors Assn reports that sales of existing homes in the state rose 15% in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison.  A total of 18,038 single-family existing homes sold statewide last month compared to 15,732 homes sold in June 2009. June's statewide existing home sales increased 7.7% over statewide sales activity in May. Meanwhile, last month's statewide existing-home median price of $143,400 was 2.1% higher than May's statewide existing-home median price of $140,400. It marks the fourth month in a row that the statewide existing-home median price has increased over the previous … (0 comments)

daytona beach area real estate market news: Daytona Beach, FL - Home Sales Soar in May - 06/27/10 05:19 AM
Sales of single family homes in Daytona Beach rose 27% over last May, to 830 from 653.  Median sales prices are still declining, to $118,300 from $136,100 last year.
Sales of condos in the Daytona Beach metropolitan sector rose 16%, to 161 from 130 last May.  Median sales prices for condos also are still falling, to $114,400 in May, down from $191,300 last year.
According to the latest housing data released by the Florida Association of Realtors, sales of existing homes in Florida rose 18% in May, marking 21 months that sales activity has increased in the year-to-year comparison.
Seventeen of … (0 comments)

daytona beach area real estate market news: Daytona Beach, FL: April Sales Statistics for the Daytona Beach Area - 05/29/10 06:01 AM
April brought some positive signs to the Daytona Beach real estate market.  Though prices are still declining, and are expected to continue in that trend until our bank-owned inventory is absorbed, sales numbers rose significantly.
In the Daytona Beach Metropolitan area, in April, 871 single-family homes sold, compared to 610 last year, an increase of 43%.  Median price was $124,100, vs $127,000 last year, a decrease of 2%.
For condos, 173 units sold, compared to 114 last year, an increase of 52%.  Median price was $131,800, vs $167,500 last year, a decrease of 21%.
Statewide, numbers were also encouraging.  According to … (0 comments)

daytona beach area real estate market news: Daytona Beach, FL - 1st Quarter Market Statistics - 05/11/10 10:01 AM
According to the latest housing statistics from the Florida Association of Realtors (FAR), sales of existing single-family homes in Florida rose 24% in first quarter 2010 compared to the same period a year earlier.  A total of 38,846 existing homes sold statewide in 1Q 2010; during the same period the year before, a total of 31,410 existing homes sold. It marks the seventh consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.
Condos showed even better growth.  Statewide sales of existing condominiums in the first quarter rose 67% compared to the same time the … (0 comments)

daytona beach area real estate market news: Daytona Beach, FL: March Real Estate Sales Statistics - 04/24/10 04:41 AM
As reported by the Florida Assn of Realtors, Florida's existing home sales rose in March, which means that sales activity has increased in the year-to-year comparison for 19 months.
Existing home sales increased 24 percent last month with a total of 16,294 homes sold statewide compared to 13,090 homes sold in March 2009. Statewide existing home sales last month increased 37 percent over statewide sales activity in February.  While March's statewide existing-home median price of $137,000 was down from the same time a year ago, it was 4.3 percent higher than February's statewide existing-home median price, and down from March, 2009 … (1 comments)

daytona beach area real estate market news: New Study Shows More Americans Want to Own instead of Rent - 04/10/10 12:03 PM
A new Fannie Mae national housing study reports that 65% of Americans would prefer to own rather than rent, irregardless of the mortgage challenges of the past few years.  In addition, 43% said safety was the key reason to buy instead of rent.  33% feel schools are better in neighborhoods where most homes are owned as opposed to rented.
Other findings show that 70% believe buying a home continues to be one of the safest investments available. This compares to 74% who think putting money into a bank account is safe.   17% believe buying stocks is a safe investment.  60% believe that it … (1 comments)

daytona beach area real estate market news: Florida's Existing Home and Condo Sales Rose in February - 03/27/10 07:09 AM
Florida's existing home sales rose in February, which means that sales activity has increased in the year-to-year comparison for the past year and a half (18 months), according to the latest housing data released by Florida Realtors®.Existing home sales increased 21 percent last month with a total of 11,890 homes sold statewide compared to 9,867 homes sold in February 2009, according to Florida Realtors. Statewide existing home sales last month increased 13.6 percent over statewide sales activity in January.Florida Realtors also reported a 59 percent increase in statewide sales of existing condos in February compared to the previous year's sales figure; … (0 comments)

daytona beach area real estate market news: Florida Sellers are Serious about Selling - 03/21/10 12:42 PM
A recent article in RisMedia indicates Florida sellers, especially in south and central Florida, are reducing list prices in a serious attempt to attract buyers. In Orlando, not far from my market area, 47.7% of homes listed for sale in February included at least one price reduction, with sellers on average reducing the list price 2.39 times- the highest of any of the 27 major housing markets that ZipRealty surveys monthly.
Highlights of ZipRealty's February price reduction report for housing markets in Florida include:-The number of price-reduced homes on the market in Orlando rose 17.1% in February compared to January-Miami has the … (0 comments)

daytona beach area real estate market news: Think about Refinancing your Daytona Beach Home (if you don't want to sell) - 03/06/10 10:05 AM
Around 37% of all borrowers with 30-year conforming fixed-rate mortgages -- who collectively hold about $1.2 trillion of home loans -- have mortgage rates of 6% or higher, according to investment bank Credit Suisse. They also report that many could reduce their rates by a full percentage point if they refinanced at current rates, about 5%, and more than half could lower their rates nearly three-quarters of a percentage point.
But new refinance applications in January stood near their lowest levels in the past year.  The administration recently extended a program intended to help underwater homeowners refinance, but few people have … (1 comments)

daytona beach area real estate market news: Daytona Beach FL: Home Sales for January Show Big Gain - 02/27/10 06:02 AM
The Florida Association of Realtors (FAR), has released statistics showing Florida's existing home sales rose in January, marking 17 months that sales activity has increased in the year-to-year comparison.  Existing home sales increased 24 percent last month with a total of 10,465 homes sold statewide compared to 8,444 homes sold in January 2009, according to Florida Realtors. January's statewide sales of existing condos rose 81 percent compared to the previous year's sales figure.
In Florida's year-to-year comparison for condos, 4,631 units sold statewide last month compared to 2,554 units in January 2009 for an increase of 81 percent. The statewide existing … (0 comments)

daytona beach area real estate market news: Florida Homeowners to Benefit from new Government Program - 02/20/10 10:06 AM
Pres. Obama has announced a new fund to help homeowners facing foreclosure in these states:  Florida, Arizona, Nevada, Michigan, and California.  In each of these states, the average price for all homeowners has fallen more than 20% from the peak. 
As the President explained, "The legacy of price declines, together with the effects of high unemployment, means that many working and middle-class families in these especially hard-hit areas are facing serious challenges, in many cases beyond what their families' resources can handle...So, the Administration is setting up an innovation fund to expand the capacity of housing finance and similar agencies in … (2 comments)

daytona beach area real estate market news: Florida Foreclosure Outlook - 01/30/10 03:17 AM
According to information released this week by RealtyTrac, 2010 will be a dismal year for homeowners struggling to pay their mortgages.  In its Year-End 2009 Metropolitan Foreclosure Market Report, RealtyTrac shows that cities in four Sun Belt states accounted for all top 20 foreclosure rates in 2009 among metro areas with a population of 200,000 or more (Florida accounted for 8 metro areas). Even more worrisome is their assertion that foreclosure activity shows signs of spreading into previously insulated areas as unemployment became more of a driving factor.  "While it was expected that cities from states with the highest levels of foreclosure … (0 comments)

daytona beach area real estate market news: Daytona Beach, FL: Great Real Estate News for November - 12/26/09 10:26 AM
November was a very positive month for real estate sales in November:  area home resales rose 84%, reflecting the strong statewide trend upward, and beating national sales figures, as reported by the Florida Assn. of Realtors.  November marked the 15th month that statewide sales activity has increased in the year-to-year comparison.
Realtors sold 773 homes in Volusia and Flagler counties last month, compared with 420 during the same period last year. The median price: the midpoint at which half the homes sold for more and half sold for less, was $130,500, down 11 percent from the median price in November 2008.
… (1 comments)

daytona beach area real estate market news: Daytona Beach, FL: Florida Home and Condo Sales Continue Rise - 11/28/09 03:45 AM
The Florida Assn. of Realtors has announced that existing home sales rose in October, marking 14 months that sales activity has increased in their year-to-year comparison. October's statewide sales also increased over sales activity in September in both the home and condominium resale markets.
Existing home sales rose 45 percent last month with a total of 15,160 homes sold statewide compared to 10,444 homes sold in October 2008.  Statewide existing home sales last month increased 5.1 percent over statewide sales activity in September.  Condo sales rose 82 percent in statewide sales in October compared to the previous year's sales figure; statewide … (1 comments)

daytona beach area real estate market news: Daytona Beach FL Home Sales Jump in September - 10/23/09 12:00 PM
Florida's existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. September's statewide sales also increased over sales activity in August in both the existing home and existing condominium markets.Existing home sales rose 34 percent last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008, according to Florida Realtors. Statewide existing home sales last month increased 4.1 percent over statewide sales activity in August.Florida Realtors also reported a 77 percent … (1 comments)