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Florida’s existing housing market shows improvement

Florida’s existing housing market shows improving conditions in June 2008 ORLANDO, Fla. — July 24, 2008 – Many Florida Realtors® statewide noted positive movement in their local housing markets in June, with an upswing in the statewide median price reported for both existing home sales and condominium sales over May 2008, according to the latest housing statistics released by the Florida Association of Realtors® (FAR). The statewide existing-home median price in June was $205,500, up 1 percent from May’s median price of $203,300. The median price of an existing condo last month was $183,700, also up 1 percent from May’s figure of $181,800.Nationally, existing home sales are expected to show some modest gains in the coming months, with a recovery predicted during the latter part of the year, according to the latest housing outlook from the National Association of Realtors® (NAR). “Some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half,” said NAR Chief Economist Lawrence Yun. “Price conditions vary tremendously, even within a locality.” In the year-to-year comparison, a total of 11,700 existing homes sold statewide last month while 12,276 homes sold in June 2007 for a decrease of 5 percent, according to FAR. Florida’s median sales price for existing homes last month was $205,500; a year ago, it was $244,400 for a 16 percent decrease. But, looking back to June 2003, the statewide median sales price for single-family homes has increased 26.9 percent over the five-year-period, according to FAR records – at that time, the statewide existing-home median price was $161,900. The median is the midpoint; half the homes sold for more, half for less.In a year-to-year comparison for condos, 3,628 units sold statewide compared to 3,851 in June 2007 for a 6 percent decline. The statewide existing-condo median sales price last month was $183,700; in June 2007 it was $212,400 for a 14 percent decrease. NAR reported the national median existing condo price was $223,400 in May 2008.The national median sales price for existing single-family homes in May 2008 was $206,700, down 6.8 percent from a year earlier, according to NAR. In California, the statewide median resales price was $384,840 in May; in Massachusetts, it was $322,500; in Maryland, it was $294,244; and in New York, it was $210,000.Last month, interest rates for a 30-year fixed-rate mortgage averaged 6.32 percent, down from the average rate of 6.66 percent in June 2007, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written. Several of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in June; a few MSAs also showed gains in condo sales. Realtors around the state reported heightened buyer interest in their markets, with a responding increase in telephone calls, home showings and other business activity.Among the state’s larger markets, the Orlando MSA reported a total of 1,641 homes sold in June compared to 1,595 homes a year ago for a 3 percent increase. The existing home median sales price was $219,500; a year ago, it was $258,100 for a 15 percent decrease. A total of 172 existing condos sold in the MSA last month compared to 188 condos the previous June for a decrease of 9 percent. The market’s existing condo median price was $132,900; a year ago, it was $156,900 for a 15 percent decrease. © 2008 FLORIDA ASSOCIATION OF REALTORS

April - June 2008 Ormond By the Sea Florida Condo Market

There are currently 109 Condos For Sale in Ormond By The Sea Florida. At the end of June 2007 there were 138 Condos For Sale in Ormond By the Sea. Many owners who have been unable to sell are trying to rent or otherwise holding out for the Market to improve and values to increase. 9 Condo Sales closed during the Quarter compared to 14 Sales in April - June 2007. 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 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at http://www.ormondbeachcondorentals.com/

June 2008 Condo Sales In Ormond By The Sea Florida

There were NO Condo Sales closed in June 2008 in Ormond By the Sea through the Daytona Beach area Multiple Listing Service (MLS). June 2007 had 4 sales. There are 8 Units with pending contracts. 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 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at http://www.ormondbeachcondorentals.com/

NASCAR & ISC Getting New HQ In Daytona Beach, Florida

International Speedway Corporation has broken ground on a 8 story, 200,000 square foot office building across the street from Daytona International Speedway. The new building, scheduled for completion in late 2009, will house over 1,100 ISC and NASCAR employees. "Daytona Live!" An entertainment destation will subsequently be developed on the same site with Retail, Dinning, theatre, and a Hotel. 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 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at http://www.ormondbeachcondorentals.com/

Real Estate Market Nearing Bottom?

A recent Daytona Beach News Journal Article asked that question and presented statistics indicating a slowing of the decline in area home values. Read the full article at http://www.news-journalonline.com/ 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 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at http://www.ormondbeachcondorentals.com/

Ormond By The Sea Florida

For additional information about Ormond By The Sea Florida visit our Vacation Rental web page site at http://www.ormondbeachcondorentals.com/Ormond_By_The_Sea_info.php A rare World War II coastal watch tower was refurbished in 2004 including a placard placed at it’s base with a brief history. The 30 foot tower, built in the 1940’s was reorganized as a historic site in the mid 1990’s. The tower is on the dunes around the 2100 block of Ocean Shore Boulevard. Ormond By The Sea has an Oceanfront park (Tom Renick Park) with parking and picnic facilities and bicentenial park with tennis and ballfield facilities. Highbridge park is on the river and is a popular fishingspot and boat launch. There is also a nature trail. Ormond By The Sea information is also available at http://en.wikipedia.org/wiki/Ormond-By-The-Sea 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 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at http://www.ormondbeachcondorentals.com/

Corinthian Villa Condo for sale in Ormond each Florida

Corinthian Villa Condo unit 104 for sale in Ormond each Florida $179,900 Meticulously maintained first floor condo with ocean view. Spacious 2 bedroom 2 bath unit with ceramic tile entry & kitchen. Berber carpet in the living areas. Beautifully furnished and decorated to show like a model. Furnishings are included in the sale except for some items of personal property. Beautifully updated and modernized kitchen with lighted dome ceiling and lots of cabinet space. This Condo unit has a unique feature – outside lights! In addition to your entry door and sliding door on the east wall, you also have windows on the north and west walls. Moreover, there is a walkway to the south of the unit so you have no common walls beside another unit. Ceramic tile patio off your slider, conveniently located reserved parking space. Two walk-in closets and a medicine cabinet in each bathroom. Both bathrooms have beautiful vanities. Lots of additional storage space in the large closet in the entry foyer. Built in microwave and side by side refrigerator with built in wine chiller. $179,900. This is a fabulous condo for this price. More photos are on the sales page of our web site http://www.ovrealty.com/Ormond_Beach_sales.php 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 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at http://www.ormondbeachcondorentals.com/