Low mortgage rates

Prices are down and Freddie Mac’s weekly nationwide survey indicated Rates on 30-year mortgages averaged 6.59 percent. That's the lowest they have been in a couple of months. So now is a great time to buy! For additional information about Ormond By The Sea Real Estate contact 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

July 2007 Ormond By The Se condo sales market

Eight condos sold in Ormond By The Sea in July 2007, which compares to 7 in July 2006 and 8 in July 2005. Let's take a look at the majority of Ormond By The Sea condos, the 2 bedroom, 2 bath across the street from the beach. For those condos the average sale price in July 2005 was $291,000. The average in July 2006 was $253,000. The average sale price of those condos in July 2007 was down to $208,000. So the average sale price over the past 2 years has come down $83,000. Selling 8 condos each month will take about a year and a half to sell off the current inventory of 140 if nothing else comes on the market. Looking at the 2/2 along A1A in Ormond By The Sea, there are 65 for sale with 21 priced at 290,000 or more. Only 25 are priced at 250,000 or less. Judging by last month's average sale price, only 2 are priced to sell quickly and that is assuming the prices and values are no longer going down. 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 2007 Condo market

Sales of existing condominiums in Florida decreased in June, with a total of 4,004 condos sold statewide compared to 5,532 in June 2006 for a 28 percent decline, according to the Florida Association of Realtors . The statewide median sales price for condos in June was $206,100, down 3 percent from June 2006’s condo median price of $213,200. For additional information about Ormond By The Sea Real Estate contact 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 Vacation rental information is available at http://www.ormondbeachcondorentals.com/ Ormondy Condo vacation rental information is at http://www.ormondycondo.com/ Seawinds Penthouse vacation rental information is at http://www.seawindspenthouse.com/

Ocean watch Condo 505 for sale in Ormond By The Sea

Ocean watch Condo unit 505 is for sale at $224,900

Unit 505. Fantastic Ocean views from this top floor condo. Well-maintained unit fully furnished and equipped and ready for occupancy. This unit has an underground reserved parking space. Built in 1986, this 5 story, two building complex features a large pool. Laundry facilities are on each floor. Maintenance fee is $275 monthly. Price reduced to $224,900. Contact Ocean View today for additional information and your private showing. MLS # 460665

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/

Seascape Condo in Ormond By The Sea Price reductions

Seascape condo unit 408 in Ormond By The Sea is a beautiful 4th floor unit with fabulous Ocean Views. The price has been reduced to $297,000.

Seascape Condo unit 303 in Ormond By The Sea is a 2 Bedroom 2 Bath third floor unit. The price has been reduced to $242,000.

Go to the sales page of the Ocean View realty Group web site at http://www.ovrealty.com/ or contact Realtor Marion O'Connor today for more information and your private showing.

For additional information about Ormond By The Sea Real Estate contact 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

Florida Real Estate Market

Economist Hank Fishkind last week indicated that he believes the worst is over for most areas of the Florida Real Estate market. Mr Fishkind said the bottom has been hit and the market will slowly return to normal activity over the coming months. One exception he noted was the Miami Condo market which will continue to see lower prices due to the overbuilding that has occurred. This is good news in the wake of recent reports that the housing market will not begin to recover until 2009. Let's hope Mr Fishkind is correct and the others are out to lunch. Ocean View Condominium Rental Group, Inc. 1350 Ocean Shore Blvd. Suite A Ormond Beach, FL 32176 http://www.ovrealty.com/ 1-800-356-3409 Toll free USA & Canada 1-386-441-8245 Local Phone 1-386-441-2407 Fax

Ormond By The Sea Dune Washout

Recent heavy rains caused a washout of the dunes just south of Seabridge condo at 3100 Ocean Shore Blvd. 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

Volusia County Home Sales

The Florida Association of Realtors reported existing home sales down 2.9% in June 2007 compared to June 2006. The statistics are for Volusia and Flagler Counties combined. The median sales prices also fell 10%. 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 Real Estate Prices

A survey by HouseHunt Inc. in the second quarter of 2007 polled Real Estate agents nationwide and reported that the clients of 86 percent of those polled are getting 90 percent or more of their asking prices. More than half of the agents say their clients have closed for more than 95 percent of their asking prices. So what does all this mean to Ormond By The Sea home and condo owners looking to sell? Simple, and just as I have been trying to explain to sellers, if you price your property too high it will NOT sell in this market. Buyers have too many choices and will usually not look at properties above what they anticipate spending. The old standby response of many sellers is "but they can make me an offer". Unfortunately in this market that does not happen very often so if you really would like to sell your Ormond By The Sea home or Condo you need to set the asking price where buyers are looking and buying. The 2005 values and prices are gone and will probably not return for many years. Ocean View has lost many customers recently to other agents who will tell you what you want to hear to get you to sign a contract with them. Those properties will not sell at the higher asking prices and unless the price is reduced to current market levels the owners will be disappointed. For additional information about Ormond By The Sea Real Estate contact 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

Regency Plaza Direct Ocean Front Condo price reduced

Regency Plaza Condo unit 501 has reduced their price to $415,000. This is a beautiful fifth floor 2 Bedroom 2 Bath condo with a 30 foot balcony on the Ocean. 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