2nd Quarter Newsletter

ORMOND OWNERS REPORT SECOND QUARTER 2008 HELLO FROM ORMOND BY THE SEA Ocean View Condominium Rental Group, Inc. also doing business as Ocean View Realty Group publishes this informative newsletter each quarter and sends it to out of town Ormond By The Sea property owners. Ocean View provides non-resident owners a source of local information about the local area that they may not otherwise receive. If you have comments, questions or suggestions do not hesitate to contact us. BUSINESS BRIEFS Dollar General is open at 1550 Ocean Shore Blvd. Miss Priss, a Consignment Boutique, is open at 152 W. Granada Blvd. Frame of Mind, Custom Picture Framing, is open at 23 W. Granada Blvd. American Health Lab is open at 1184 Ocean Shore Blvd. Nickcole’s Hair Studio is open at 1341 Ocean Shore Blvd. Cerchio Neighborhood Italian Café is open at the Tuscany Shoppes on Granada Blvd., in the store previously occupied by San Francisco Oven. Rachel’s Shoes & Bags is open at 203 E. Granada Blvd. Wal-Mart has decided not to build a second store in Port Orange. Caffeine is open at 49 W. Granada Blvd., serving lunch and dinner. It is not a coffee shop. LOCAL NOTES International Speedway Corporation has broken ground for its new 200,000 Sq. Ft. Headquarters across the street from the Speedway. The new building will also house NASCAR Employees and be the cornerstone of the "Daytona Live!" complex. The new, 8 story building is scheduled for completion late next year. Continental & AirTran have announced plans to discontinue service to the Daytona Beach Airport. The Florida Lottery has added midday drawings for Cash 3 and Play 4. Seaside Music Theater has canceled its entire 2008 Summer Season due to its financial situation. The Daytona Beach Museum of Arts & Sciences has become accredited by the American Association of Museums. "Daytona Live!" is an entertainment destination that will begin to take shape in 2010 across the street from the Speedway. Current plans call for Retail, Night Clubs, Restaurants, A Theater and Hotel along with residential space. Books-A-Million will return to the area in April, 2009 at the Volusia Mall. Breakers Oceanfront Park is now open south of the Main Street Pier. The park has parking, water play area, Beach access, Volleyball and benches. Florida ranked second in the country as Pro-Business in the Pollina Corporate Top 10 Pro-Business States Study. Residential building permits for the first quarter of 2008 were about half of what they were in the first quarter of 2007 according to the Volusia County Department of Economic Development. YMCA Organizations in Volusia & Flagler Counties are merging and members will have access to all YMCA facilities in both counties. A Holiday Inn is under construction at the I-95 LPGA Intersection. Kohl’s Department Store will open in September in Port Orange. Daytona State College is the new name for Daytona Beach Community College. Powerball, the Multi-State Lottery, is coming to Florida in January. Rhonda Lehnen & Shonda Stebleton join Ocean View Realty Group Rhonda Lehnen and Shonda Stebleton have joined Ocean View Realty Group as Licensed Real Estate Sales Associates. they received their real estate license in June of this year. Ocean View is at 1350A Ocean Shore Blvd. (House of Donuts Plaza) and has operated from the same location since 1991 specializing in Ormond by the Sea sales and rentals. Ms Lehnen, originally from Kansas City, MO, and Mrs. Stebleton from Ormond Beach, FL, will specialize in Ormond Beach Residential Sales. Rhonda & Shonda will concentrate on the Ormond Beach and Ormond by the Sea area. Rhonda & Shonda are also partners in Elegant Freestyle ReDecorators, LLC, an Ormond Beach based Decorating and Home Staging Company. Rhonda will continue to help part time at the office as she has done since December. MOVING? If you are changing your address and would like to continue receiving this newsletter, please let us know the new address. CONTACT OCEAN VIEW If you need information to help you buy, sell or rent your Ormond By The Sea property. Ocean View has been helping Buyers, Sellers and Renters from the same Ormond by the Sea location since 1991. Lots of information is available on our web site http://www.ovrealty.com/ and our rental web site at http://www.ormondbeachcondorentals.com/ or call us at 386-441-8245 or outside Florida a toll free call 1-800-356-3409. Email Deanna for rental information at ovrentals@aol.com Marion is our Realtor and can help with buying or selling. Email at ovforsale@aol.com Our general email address is ovrealty@aol.com . 2007 Ormond By The Sea Condo Market There were 50 Condos sold in Ormond By The Sea in 2007 compared to 43 in 2006. Five of the 2007 sales were listed by Ocean View Realty Group. At the end of 2006 there were 151 Condos for sale and at the end of 2007 there were 125. Many owners, especially those that purchased at the higher end when the market was hot are holding out for prices to go back up before putting their property on the market. Some would face a substantial loss if their property sold in the current market. Almost half of the 50 Condos sold in 2007 sold for $215,000 or less. There were 11 sales of 2 bedroom, 2 bath, ocean view condos above the first floor for $215,000 or less. That compares to zero in 2006. Of the 10, 2006 sales under $215,000 all were non ocean view or first floor units. Selling prices for ocean view condos across A1A from the beach in 2006 ranged from $265,000 to $346,000. Those selling prices are pretty much unattainable in the current market. 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/.