Home Buying Power August, 2006

According to the most recent national housing opportunity pulse survey by the National Association of Realtors only 14% say rising mortgage interest rates would keep them from buying a home. 34% cited increasing property taxes and 28% said a major concern was the rising cost of energy(electricity, etc.). According to the US Census Bureau the average month mortgage principal and interest payment was $840 in 2005 it was $1040, in April 2006 it was $1132. More than a 10% jump in the past year alone. The price of electricity was up 12% from February 2005 to February 2006 accoring to Energy Information Admininistration estimates. State and Local Property taxes per household in fiscal year 2003 averaged $985 and by 2004 that figure was $1121 according to the US Census Bureau. Real Estate taxes in Volusia County and Ormond By the Sea have increased significantly in the past few years as property values skyrocketed. Owners without a homestead exemption to hold the line on increases have been hit hard. For information about Ormond Beach and Ormond By the Sea homes and condos for sale or rent, contact Ocean View Realty Group or visit our web site at http://www.ovrealty.com/. Marion O’Connor is our sales specialist – ovforsale@aol.com Deanna Thomas is our rental specialist – ovrentals@aol.com Ocean View Realty Group 1350 Oceanshore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 800-356-3409 Vacation rental information is at www.ormondbeachcondorentals.com