Now is The Time to Buy Florida Real Estate

A recently released study by the University of Florida concluded that there is not much to be gained by holding out buying a single family residence at this point since it doesn't look like prices are going to fall anymore. The survey research center questioned 318 industry executives, real estate lawyers, scholars, and other experts in the field to arrive at its conclusions. A growing number of the experts surveyed find prices staying even with inflation, indicating the market is stabilizing.For information about the Ormond By The Sea real estate market visit the Ocean View Realty Group web site at http://www.ovrealty.com/ or contact realtor Marion O'Connor at 1-800-356-3409 or email her at marion32174@aol.com.

National Association of Realtors Housing Market Update

David Lereah, NAR's chief economist, said modest gains are expected for home sales. "As the housing market recovers from its correction, existing-home sales should be rising gradually during 2007 - it looks like we may have reached the low point for the current cycle in September." he said. "We've entered a more sustainable period of home sales now, and we expect greater support for prices over time as inventory levels are eventually drawn down." Total housing inventory levels fell 1.0 percent at the end of November to 3.82 million existing homes available for sale, which represents a 7.3 month supply at the current sales pace. The national median existing-home price for all housing types was $218,000 in November, which is 3.1 percent lower than November 2005 when the median price was $225,000. The median is a typical market price where half of the homes sold for more and half sold for less. "For every 1.0 percent drop in home prices, we project an additional 50,000 buyers are drawn into the market, "Lereah said. Existing home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new hom sales will continue to slide. Lereah said there are mixed conditions around the United States. "Roughly three quarters of the country will experience a sluggish expansion in 2007, while other areas should continue to contract for at least part of the year," he said. "Most of the correction in home prices is behind us, but general gains in value next year will be modest by historical standards." "Buyers, especially first-time buyers, with the combined benefits of seller flexibility and an unexpected drop in mortgage interest rates, have a window of opportunity. These conditions will persist in many areas until early spring when inventory supplies are likely to become more balanced." Lereah said.

Ormond By The Sea condo market

The number of condos on the market in Ormond By The Sea seems to have stabilized recently. The numbers no longer appear to be rising as the were in 2006. Prices have been coming down and there are a few condos currently pending sales. These are hopeful signs that the worst may be behind us and the condo mareket will rebound soon. The bad news for sellers is the the lower values may be what drives the upturn in sales so you can expect your condo to sell for 50,000 to 100,000 less that the peak 2005 values. The good news? Maybe the reduced values will mean lower tax bills. 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 condo sales january 2007

Three condo units sold in Ormond By The Sea in January 2007. A second floor Ormondy unit(directly on the ocean) sold for 295,000. Most recent sales at the Ormondy were in the summer of 2006 for $365,000 and $435,000. Quite a drop in price. The other 2 sales were a 3 bedroom at Sand Dunes and a 2 bedroom 1 bath at Ocean Shores Condos. Over 100 2 bedroom 2 baths condos continue to stay on the market and many have begun to reduce their asking price in hopes of getting a sale. About a dozen Ormond By The Sea condos for sale do not show on MLS when we search for Ormond By The Sea. Out of town Realtors or others who do not know the area have listed them in Ormond Beach. When you decide to sell your Ormond By The Sea condo call ocean View. We know condos and we know 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.comDeanna Thomas is our rental specialist – ovrentals@aol.comOcean View Realty Group1350 Ocean shore Blvd. Suite AOrmond Beach, Fl 32176386-441-8245Fax 386-441-2407Toll free USA & Canada 1-800-356-3409Vacation rental information is at http://www.ormondbeachcondorentals.com/

The survey says....

Some good news amid a flurry of reports about the downturn in real estate. Despite all the gloomy reports, Americans still believe that real estate is a good investment. A poll of 2,000 households in the third quarter of 2006 by the National Association of Home Builders found that more than 80 percent were confident the value of their home would rise during the next five years, and slightly less than 70 percent said their home remained their most valuable investment. For information about homes and condos for sale in Ormond By The Sea, Florida, visit the Ocean View Realty Group web site at http://www.ovrealty.com/.

Ormond By The Sea YTD 2007 condo sales

As of March 2, 2007 there are 4 condo sales in the Daytona Beach area Multiple Listing Service (MLS) for Ormond By The Sea. One is direct oceanfront, one is a 3 bedroom, and one has only one bath. That leaves the most common 2 bedroom 2 bath condo across the street from the ocean with only one sale! Ocean View Realty Group made that sale, so have we cornered the Ormond By The Sea condo market? Obviously this makes us number 1 in condo sales! If you are thinking of buying, selling or renting an Ormond By The Sea condo, think of Ocean View Realty group first! 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

Homeowners' property insurance

Homeowners’ property insurance rates will go down, according to figures released by the Florida Office of Insurance Regulation, but the amount varies dramatically from county to county – from an average of 10 percent in the Panhandle to as much as 50 percent in South Florida. Contact Marion O'Connor at Ocean View realty Group for all your Ormond beach and Ormond By The Sea Real Estate needs. Marion32174@aol.com 1-800-356-3409 For information about Ormond By the Sea and Ocean View visit our web site at www.ovrealty.com

Ocean Watch Condo 505 price reduced

Ocean Watch Condo for sale $279,000 Unit 505. Top floor fantastic Ocean views from this top (5th) floor condo. New in the past couple of years include air conditioner and air handler, water heater, dishwasher, flooring, and some furniture. Well-maintained unit fully furnished and equipped and ready for occupancy. This unit has an underground reserved parking. Built in 1986, this 5 story, two building complex features a large pool. Laundry facilities are on each floor. Maintenance fee is $250 monthly. Price reduced to $279,000. Contact Ocean View today for additional information and your private showing. MLS # 424507

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

Seascape 406 price reduced

Seascape Condo unit 406 in Ormond By The Sea. Price just reduced to $305,000.00.

Spacious 2 bedroom 4th floor condo that is the ultimate in interior design. Effective use of mirrors and plants make an inviting atmosphere. Secure building with underground parking make it stress free. Storm shutters add to your security during severe weather. Fabulous ocean views make this an easy choice. Being sold fully furnished and equipped. Sip your favorite beverage while overlooking the beautiful Atlantic Ocean from your private balcony. Other features include a wet bar and inside laundry. $305,000. Unit 406 Seascape condo at 2290 Ocean Shore Blvd. in Ormond By The Sea. MLS # 430349

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

New home sales down in 2006

The US Commerce Department has reported new home sales for 2006 down 17.3% from 2005, the biggest downturn since 1990. Many builders have reduced prices and are offering incentives to help sell their homes. 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