Vacation & Investment home sales

A recent National Association of Realtors report showed that investments and vacation homes together acdcounted for almost 40% of all residential trasactions in 2005. Vacation home sales increased almost 17% and investment home sales were up 15.5% from 2004 to 2005 The median price of vacation homes was up 7.4% and investment home prices were up 24% from 2004 to 2005. 11 percent of buyers own two properties and 4% own three or more properties according to the surveys. 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 http://www.ormondbeachcondorentals.com/

Ormond by the Sea Home for sale

Ormond By The Sea Home for sale...........price reduced to $179,900 Low price 2 bedroom beachside bungalow in Ormond by the Sea. New paint and carpet. Kitchen updated approximately 5 years ago. Carport. Nice room added off the kitchen. Shed in fenced back yard. Ceramic tile kitchen. Utility room with washer/dryer hook ups. Ceiling fans in kitchen and bedrooms. Close to the beach and shopping. 39 Seaside Dr. Ormond Beach Florida, 32176. Priced to sell at $179,900 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

Seascape Condo for Sale

Unit 303 Seascape This is a beautiful 3rd floor unit in much sought after Seascape Condominium. The condo must be seen to be fully appreciated. Comes with (if you wish) a full time year round tenant who pays on time every month and all her own utilities. This lady is an excellent tenant and wants to sign a lease. At present she is month to month due to the potential for a sale. Come look at this condo and if you like what you see make us an offer!! $299,900 is an excellent price for this outstanding condo unit.Seascape is an L shaped 5 story building that opened in 1983. Units are all 2 bedroom/2 bath and are approximately 1200 sq. ft. They either face north or east towards the pool and ocean. All units have inside laundry and underground parking. Maintenance fee $255 monthly. 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

Seabridge North Condo for Sale

Seabridge North Condo for sale in Ormond By The Sea Florida 2 Bedroom 2 Bath top floor North end unit approximately 1100 square feet with a wrap-around balcony. One of only 8 units in the complex with a garage Others to be adding garages in the future. Beautiful 5th (top) floor corner unit with garage!! Magnificant Ocean views from this very private unit. Small pet ok, weekly rentals ok. In Unit washer & dryer. Come see this unit - owner says sell, bring all offers. Maintenance fee $241 monthly. This condo is the top floor northeast corner of the building. Reduced to $299,900 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

Volusia County Income

Volusia Couny Personal Income grew 6.6% in 2005 according to the U.S. Bureau of ecoomic analysis. This is the total income from all sources in the entire county divided by the number of people. Income growth compared favorably to the 2.9% inflation rate. The National average income growth was 5%. The bad news is thet Volusia County income ranked 276 out of 361 metro areas still, in the bottom third. Ocean View Realty Group 1350 Ocean Shore Blvd. Suite A Ormond Beach, FL 32176 http://www.ovrealty.com/ Toll Free USA & Canada 1-800-356-3409 Local phone 386-441-8245 Fax 386-441-2407 For buying or selling contact Marion O’Connor at ovforsale@aol.com For Rental information contact Deanna Thomas at ovrentals@aol.com

Volusia County Income

Volusia Couny Personal Income grew 6.6% in 2005 according to the U.S. Bureau of ecoomic analysis. This is the total income from all sources in the entire county divided by the number of people. Income growth compared favorably to the 2.9% inflation rate. The National average income growth was 5%. The bad news is thet Volusia County income ranked 276 out of 361 metro areas still, in the bottom third. Ocean View Realty Group 1350 Ocean Shore Blvd. Suite A Ormond Beach, FL 32176 www.ovrealty.com Toll Free USA & Canada 1-800-356-3409 Local phone 386-441-8245 Fax 386-441-2407 For buying or selling contact Marion O’Connor at ovforsale@aol.com For Rental information contact Deanna Thomas at ovrentals@aol.com

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

Florida Home Sales for July, 2006

Florida Association of Realtors figures for July 2006 show existing home sales dropped 1/3 from July 2005. Increasing mortgage rates, taxes, and insurance appear to be factors. Sales nationally for July were at a 2 year low as inventories of unsold homes were at a record high. Condo sales were also down 37% and the median sale price also declined 15%. Ocean View Realty Group 1350 Ocean Shore Blvd. Suite A Ormond Beach, FL 32176 www.ovrealty.com Toll Free USA & Canada 1-800-356-3409 Local phone 386-441-8245 Fax 386-441-2407 For buying or selling contact Marion O’Connor at ovforsale@aol.com For Rental information contact Deanna Thomas at ovrentals@aol.com

Volusia County Housing Affordability

Housing affordability in Volusia County has taken a big hit according to the National Association of Home Builders Affordability Index for the second quarter 2006. In early 2000 Volusia County was 28th most affordable in the country. The Deltona-Daytona Beach-Ormond Beach Metro Area ranked just below Orlando at number 134. There are a total of 10 Florida Metro Areas ranked more affordable. The index uses the median household income and the median selling price of homes and indicates that 31.4% of homes are affordable at the median income.

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.