Real Estate Market

WASHINGTON – Jan. 9, 2007 – With spring right around the corner, many housing industry experts are hoping the real estate market will see some noticeable improvements. However, there is one snag that can potentially keep prices down – the large number of vacant homes for sale and rent. In the third quarter of 2006, there were 5.7 million vacant housing units, accounting for a record 4.6 percent of all U.S. homes, according to the U.S. Census Bureau. The average in the 1990s was about 3.5 percent. To get this ratio back to normal, 1.3 million vacant homes need to be occupied. Lots of empty homes pushes home prices downward, says Credit Suisse analyst Ivy Zelman. Owners of unrented, unsold homes must pay for insurance, lawn service, taxes and, often, a mortgage. Seeing those costs pile up can motivate an owner to sell or rent at much lower prices. When a house sells at a lower price, other would-be buyers expect lower prices as well. Source: The Wall Street Journal, Justin Lahart (01/08/2007)

Mortgage rates

Rates on 30-year mortgages rose this week to 6.21 percent, the highest level since mid-November, after a better-than-expected employment report renewed inflation worries in financial markets. This is a good time to buy before the rates go higher. Contact Ocean View Realty Group today. 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 www.ovrealty.com

Seabridge & Seabridge North condo sales for 2 bedroom units

In the year 2000 there were 6 sales. The lowest sale price was 82,700 and the highest was 105,000. Market time was from a low of 18 days to a high of 112 days. In 2001 the 10 sales were from 84,500 (firtst floor) to 139,900 (5th floor) with 6 of the 10 sales over 100,000. Market time was from 28 to 183 days. In 2002 only one (a 1st floor) of the 15 sales was under 100,000 with the highest sale being 168,000 on the 5th floor. Market time was from 27 days to 155 days. In 2003 only one (1st floor) of the 16 sales was under $150,000. The highest sale price was $185,000. Market time was 18 to 179 days. In 2004 there was only one sale for $225,000. In 2005 two of the 13 sales were under $250,00 with the highest being $325,000. There were 6 sales over $290,000. Market time was from20 to 113 days with 5 of the sales happening in 35 days or less. 2006 had 4 sales. Market time was 137 to 278 days. Sale prices ranged from 215,000 on the first floor to 285,000 (with a garage) on the top floor. As of January 3, 2007 there are 13 2 bedroom condos for sale at Seabridge and Seabridge North. Asking prices are $229,000 (1st floor) to $349,000. Ten of the units have been for sale for more than 4 months, with 2 units being for sale over 8 months. Vacation SN 104 rental information is as www.ormonondbeachcondorentalos.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

Ormond By The Sea December 2006 Realtor sales

Daytona Beach area MLS statistics for December 2006 show 1 2 Bedroom 2 Bath condo sold from Granada Blvd. north to the flagler county line an 2 single family homes. That will not leave much for statistical analysis but it does show how really slow the real estate market has been. 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 www.ormondbeachcondorentals.com

Ormond By The sea Beach home for sale 2 Dolphin

2 Dolphin Ave. Ormond By the Sea. 2 Bedroom Just listed...........new to the market! $219,000 So close to the beach you may get ocean views from a second floor or roof deck. There are no condos on this stretch of beach to block your view. New roof, carpet, and electric panel in 2006. Large screened porch beside the single car garage. Laundry hookups in the garage. 2 Bedroom one bath. Change in owner retirement plans leads to him wanting to sell his beach house. All Measurements approximate. Being sold as is, inspections welcome. MLS # 447040For additional information contact Ocean View today. Visit our web site for additional information on this and other Ormond beach properties for sale and for rent. www.ovrealty.com

Daytona Beach October 2006 Realty Statistics

There are 8,252 total listings in the Daytona beach area multiple listing service MLS for the end of October, 2006. 1848 listings were added and 311 were sold. There were 383 condos added and only 51 condo sales. Compared to 2005 the number of listings this year is almost double. There were 478 sales in 2005. The average condo sale price for October 2005 was %315,000 and in October of 2006 the average was $269,000. Florida Association of Realtors statistics for October, 2006 for Volu8sia and Flagler Counties show 692 sales this year compared to 1,033 last year and the median price dropped from $223,300 to $216,600.

Corinthian Villa price reduction

Corinthian Villas condo unit 104 has just reduced the asking price to $229,900, Under 230,000 for this beautiful condo. 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 negotiable. 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. Price reduced to $229,900. This is a fabulous condo for this price. Contact Ocean view today for additional information and your private showing. Additional photos are viewable on our web site at www,ovrealty.com go to the sales page. Or call us toll free from the USA or Canada 1-800-356-3409, or email us at ovrealty@aol.com

Newsletter

ORMOND OWNERS REPORT THIRD QUARTER 2006 HELLO FROM ORMOND-BY-THE-SEA Ormond by the Sea Condo Market Watch There were 10 2 bedroom condos sold in the 3rd quarter (July-Sept.) this year compared to 31 sold last year in Ormond by the Sea. Business Briefs The hair studio has opened at 1182 Ocean Shore Blvd. Aylah’s Place Skin Care & Massage has opened at 1746 Ocean Shore Blvd. Volusia County Flooring Outlet is now open at the Ormond Mall at 1276 Ocean Shore Blvd. The Snowball is open at the old Sunoco Station at 1342 Ocean Shore Blvd. Selling ice cream, hot dogs etc. Jody’s Tender touch plants and fresh produce has closed. The Capriani Condo at 1425 Ocean Shore is now complete. 10 are still for sale in our Multiple Listing Service (MLS). The surfer shop at 1360 Ocean Shore has closed and a tattoo shop has opened there. Kazzoun Cleaners is open at 1472 Ocean Shore with cleaning, laundry and alterations. Mojo’s Cuban BBQ has opened where the ice cream shop was at 1800 Ocean Shore. Coming soon in the building behind the CVS at Granada & Ocean Shore is LuLu’s Bar & Grill. There is a handicapped "beach wheels" available at Tom Renick Park. The Nautica by the Sea Condo project at 2120 Ocean Shore permitted for 30 units over 4 stories is for sale. The developer bought the property in June for $1.75 million. Walmart has opened a neighborhood market at 1905 N. Nova Rd. in Holly Hill. The Arni Pet Shelter on International Speedway Blvd. in Downtown Daytona Beach has closed due to lease issues. Local Notes Air Tran Airlines will begin service from the Daytona Beach Airport to Atlanta January 12, 2007. Beginning February 15,2007 they will begin non-stop service to Baltimore. China One New York Style Chinese all you can eat buffet is now open at Bellair Plaza. The Old Fire Station has been demolished and work is beginning on the new and expanded facility. The station is operating out of temporary quarters at Bicentennial Park. Arts map. The Daytona Beach Area Convention and Visitors Organizations (CVB) has published a new brochure listing local arts organizations and events. For listing of events and activities visit http://www.culturallydaytonabeach.com/ or call 866-644-9649. The new brochure is available at the Ocean View Realty Office. The bridge and intersection work at I-95 and Granada Blvd. is now complete. I-95 is now 3 lanes going over Granada Blvd. Cobblestone Village is planned to be the 2nd largest shopping center in the area after Volusia Mall. The 400,000 square foot center is planned in Palm Coast between I-95 and Palm Coast Pkwy on 57 acres. Cosmopolitan, a planned 195 unit 8 story condo on North Beach St. in Downtown Daytona Beach has been put on hold due to the soft condo market. The Speedway has dropped its plans for a lifestyle center at its speedway complex and is looking into something that will blend better with the race track The Volusia Office Supply Building on W. Granada Blvd. has been demolished as part of the plan to re-vitalize downtown Ormond Beach with upscale restaurants. Love’s Truck Stop is now open on Rt. 1 in Ormond Beach at I-95 exit 273, Destination Daytona. The new Marineland Dolphin Conservation Center is now open. Work continues on the Bioscience Center and Restaurant, but a planned condo project has been put on hold. Daytona Beach has been selected at the League Headquarters for the WIFL (World Indoor Football League). Daytona Beach Thunder is the local team, playing their games at the Ocean Center. World Market has opened a store at 2400 W. International Speedway Blvd. Volusia County is digging small ponds (25’ diameter) in the Tomoka Basin Spoil Islands and stocking them with minnows that eat mosquitoes. The 15 acre site in downtown Daytona Beach that is now Daytona Marina & Boatworks may soon be single family estates and a 188 unit river front condo. Ormond Beach residents will vote on whether building heights should be capped at 75 feet. A.C.Moore has opened an arts and crafts store at 2400 International Speedway Blvd. Daytona Beach area beaches were voted Florida’s Best by readers of Florida Monthly Magazine. November 4 United Airlines resumes seasonal Saturday non stop service from Daytona Beach Airport to Chicago. The service continues until the end of April each year. Sad Story On November 10, 2006 Jim & Nancy Bridges leave Ocean View to retire to their new home in the mountains of Georgia. Jim & Nancy have been friends, partners, and coworkers for many years and we will miss them dearly. OCEAN VIEW ON THE INTERNET Ocean View Realty Group has increased our Internet presence and significantly expanded the information available on our rental web site. Our main web site at http://www.ovrealty.com/ includes information and photos about our for sale properties and information and photos about ore properties available for long term lease. Due to customer demand we have added photos of our rental homes at our vacation rental web site at http://www.ormondbeachconorental.com/ and are in the process of adding more interior photos of our rental condos. Customers will find us more easily on the World Wide Web and will find a wealth of information about our services once they get to our web sites. We have also been adding Real Estate Market information to our web log at http://www.ormondbytheseaproperties.blogspot.com/. I know, the name is long so just go to our main web site http://www.ovrealty.com/ and click on Al’s web log on the left of the home page.

Ormond by the Sea Storage units

STORAGE FOR RENT $100/MONTH + TAX DEHUMIDIFIED 7’ WIDE - 16’ DEEP 11" CEILING APPLY YOUR OWN PADLOCK. COULD STORE STUFF YOU NOW HAVE IN YOUR GARAGE OR ATTIC. OCEAN VIEW REALTY 1350A OCEAN SHORE BLVD ORMOND BEACH, FL 32176

Ormond by the Sea Storage Rental

Ormond By the Sea Storage rental Ocean View has storage for rent at our location in Ormond By The sea.7X16 space with 11 foot ceiling offers lots of space for furniture andhousehold items. The space is de-humidified. $100 Monthly plus tax.If you are relocating to the area or just need a place to put "stuff" thatdoesn't fit into your home contact Ocean View for availability of ourstorage units.