Real Estate

Real Estate, like the stock market, should be a long term investment. Day traders and others that were buying real estate due to the increasing values thought that long term meant 90 days! As the real estate market returns to normal, holding a property for 10 or 20 years will probably once again produce a reasonable return when eventually sold, and potentially some enjoyment and tax considerations along the way.

Seascape Condo for Sale

2 bedroom 2 bath approximately 1200 sq. ft. condo unit at Seascape condo in Ormond by the Sea. Features include ocean view, inside laundry and underground parking. Currenty occupied by a tenant who would like to stay. $309,000

Volusia County New Construction Values

The Volusia County Department of Economic Development reported the value of new construction for the first half of 2006 down $100 million from last year. Single family home permits went from 3401 the first half of 2005 to 1900 for the first half of 2006. The total commercial and residential new construction values were $675 million in the first half of 2005 and $575 million the first half of 2006. This may be part of the natural correction following a couple of record breaking years. Contact Realtor Marion O’Connor today at ovforsale@aol.com or toll free USA and Canada 800-356-3409. You can also visit our web site at www.ovrealty.com.

Seabridge North Condo for Sale

Just reduced to $309,000 this 2 bedroom 2 bath condo is the top (5th) floor northeast corner of the building and features fabulous views and a wrap around balcone. This unit comes with a garage. For additional information and your private showing of this and other available Ormond by the Sea homes and condos contact Realtor Marion O'Connor today ovforsale@aol.com or toll free USA & Canada 800-356-3409. Visit our website at www.ovrealty.com SOLD

U.S. Home Sales - June 2006

The Commerce Department reported that new home sales dropped 3% last month. This was the first decline since the 11.5% drop in February 2006. Many economists are predicting another year of slow sales with some parts of the country experiencing price declines. If you are thinking of buying or selling Ormond Beach or Ormond by the Sea real estate contact Realtor Marion O'Connor at ovforsale@aol.com or 1-800-356-3409 or visit her web site at http://fl.living.net/realtor/marion from there you can search the Daytona Beach Area Multiple Listing Service (MLS) for all types of properties for sale in the area.

Real Estate Market Update

Harvard University's joint center for housing studies says over the next 10 years there will be at least 2 million more new households than were formed over the past decade. This means that the current national slowdown in home sales will not last long. Real Estate prices falling in the past have been precipitated by over building housing supply or big employment drops and neither condition is present currently. For all your Ormond Beach and Ormond by the Sea residential Real Estate needs visit the Ocean View Realty Group web site at www.ovrealty.com

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