Florida Real Estate Values Forum

Real Estate Broker/Owner with Ocean View Realty Group in Ormond By The Sea Florida BK559597

Florida Real Estate Values Forum

 Last Friday , June 10, 2011, I attended a forum about Florida real estate values. The forum was held at the Halifax plantation clubhouse.  

There were 2 excellent presenters.  
1. Charles Lentz, Orlando Managing Director for Integra Realty Resources.  
2. Morgan Gilreath, Volusia County Florida Property Appraiser.  

I, for one would not have attended if Mr.Gilreath was not one of the presenters. Mr. Lentz provided a greatHalifax plantation clubhouse in Ormond Beach Floridadeal of information about commercial, apartment and other types of property in Florida. His presentation was excellent.Mr.Gilreath presented much more local and residential data which is more directly related to my Ormond Beach real estate business which is in Volusia County. Mr.Gilreath included a discussion of his preliminary tax roll estimates which was submitted as required on June 1, 2011 and has included his slides on his web site at http://webserver.vcgov.org/2011vcard.pdf .

So what did I learn? There is improvement overall in Florida housing and some areas have seen some types of property in some markets go from recession to recovery. This while existing home sales are sputtering and values are continuing to decline.
The decline in values is less than in the past few years and values have stabilized in some neighborhoods. Overall, the taxable value of single family homes in the county is 49% of peak values at the height of the bubble.   
Mr Gilreath believes the county condo market is overbuilt.
Mr Gilreath's recearch back to the 1850's shows that in volusia county residential property has remained fairly consistent at 90% of all property.
The last three years values have declined 23%, 16%, and 9% according to property appraiser data.

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Have a great day

Al Raymondi
Ocean View Realty Group
1350 Ocean Shore Blvd. Suite A
Ormond Beach, FL 32176
Ormond By The Sea Florida sales and rentals of homes and condos www.ovrealty.com 
Click the Realtor Logo below to search the Daytona Beach Florida area MLS anonymously.
Fax 386-441-2407
Mail to ovrealty@aol.com
Ormond By The Sea Florida Vacation rental homes and condos information is at www.ormondbeachcondorentals.com 

Serving Ormond Beach and Ormond By The Sea in the Daytona Beach Florida area from the same location since 1991.

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Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

Al - good to hear. We are having an apprasier panel next week, and I'm hoping to get more local insight just as you did.

Jun 16, 2011 12:02 AM #1
Rhonda Lehnen
Ocean View Realty Group, sale and rental of homes and condos - Ormond Beach, FL
Ormond By The Sea Florida

Al, thanks for the updated information.  It really helps when working with Buyers and Sellers.


Jun 16, 2011 08:37 AM #2
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Thanks for commenting Carol and Rhonda, these things can give us some insight to what the property appraiser is seeing which is the overall county whereas we are looking usually at a specific neighborhood.  And as Mr Gilreath indicated the single family market is ready to begin a turnaround but the condo market is lagging.


Jun 16, 2011 09:32 AM #3
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Al Raymondi

Ormond By The Sea Florida - Home and Condo Sales
Come live by the beach in Ormond By The Sea Florida
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