June 2006 Volusia County & Florida Real Estate

Florida Association of Realtor figures show the median price of a single family home in June increased 6% to $221,300. The median was $208,700. Condominium sales were quite the opposite with the median sale price of a condo dropping 14% from $265,000 in June of 2005 to $228,100 this year. In Florida the number of existing single family homes sold was down 29% in June compared to last year but the median sales price increased to $257,800. Florida condo sales were down 35% from last year and the state wide median sale price dropped slightly to $212,500.

Ormondy Condo web site

Ocean View Realty Group has launched a new web site for rentals at the Ormondy Condominium in Ormond By The Sea. Visit www.ormondycondo.com We will be enhancing the site over the next several months. Toll free--USA and Canada 800-356-3409 Phone 386-441-8245 fax 386-441-2407 mailto:ovrentals@aol.com http://www.ovrealty.com/

Condos Coming in Ormond Beach area

Condos Coming Current condo projects under construction in Volusia and Flagler Counties will add 2,800 units to the condo inventory. The County Property Appraiser indicates there are now 27,789 condo in Volusia County, approximately 3,100 of which have been added in the past 2 years. Of the total under construction, one project consisting of 34 units is in Ormond By The Sea. In Ormond By The Sea, the number of resales of condo units in Volusia and Flagler County combined are about half of last years total for the same time period. 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

REAL ESTATE MARKET ANALYSIS

REAL ESTATE MARKET ANALYSIS Many economists are looking for sales of both new and existing homes to fall by around 10% this year as rising mortgage rates crimp demand. The lowest mortgage rates in four decades helped to propel sales to five straight annual records from 2001 through 2005. A recent report from the Commerce Department indicated sales of new single family homes increased 4.6% in may. The largest increase, 6%, was in the south. Many economists also believe that the huge backlog of unsold homes will put more downward pressure on prices in coming months. The Commerce Department report for May 2006 shows the median sales price was up 3.1% to $235,000 as compared to May 2005. 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

Real Estate statistics for May. 2006

VOLUSIA COUNTY REAL ESTATE STATISTICS FOR MAY, 2006 The median sales price of a single family home in Volusia County rose to $231,500 in May, 2006. The statewide Florida median is $256,400. Condo sales in May were down 30% and the median sales price declined 17% to $222,500 as compared to last year. Ormond By the Sea Condo sales (2 bedroom 2 bath across from the ocean) May 2004 Sold 3 average sale price $206,000 – Average days to sell is 48 May 2005 Sold 9 average sale price $233,000 – Average days to sell is 68 May 2006 Sold 2 average sale price $254,000 – Average days to sell 168 There were no direct oceanfront condo sales closed in May 2006. The above sales information was taken from the Daytona Beach Area Association of Realtors MLS. For additional information about the value of your condo in the current market or to discuss purchasing Ormond By The Sea property 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

Volusia County Property values

County property appraisers provide property value information to local governments by July 1 of each year. This year the total Volusia County taxable value reached 838 billion. There have been ten consecutive years of increases with 2006 setting a new record at 28% increase. Flagler County values hit $10.9 Billion, a 37% increase. Volusia taxes will increase $171 Million if tax rates are kept the same as last year.

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 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