2nd Quarter Newsletter

ORMOND OWNERS REPORT SECOND QUARTER 2008 HELLO FROM ORMOND BY THE SEA Ocean View Condominium Rental Group, Inc. also doing business as Ocean View Realty Group publishes this informative newsletter each quarter and sends it to out of town Ormond By The Sea property owners. Ocean View provides non-resident owners a source of local information about the local area that they may not otherwise receive. If you have comments, questions or suggestions do not hesitate to contact us. BUSINESS BRIEFS Dollar General is open at 1550 Ocean Shore Blvd. Miss Priss, a Consignment Boutique, is open at 152 W. Granada Blvd. Frame of Mind, Custom Picture Framing, is open at 23 W. Granada Blvd. American Health Lab is open at 1184 Ocean Shore Blvd. Nickcole’s Hair Studio is open at 1341 Ocean Shore Blvd. Cerchio Neighborhood Italian Café is open at the Tuscany Shoppes on Granada Blvd., in the store previously occupied by San Francisco Oven. Rachel’s Shoes & Bags is open at 203 E. Granada Blvd. Wal-Mart has decided not to build a second store in Port Orange. Caffeine is open at 49 W. Granada Blvd., serving lunch and dinner. It is not a coffee shop. LOCAL NOTES International Speedway Corporation has broken ground for its new 200,000 Sq. Ft. Headquarters across the street from the Speedway. The new building will also house NASCAR Employees and be the cornerstone of the "Daytona Live!" complex. The new, 8 story building is scheduled for completion late next year. Continental & AirTran have announced plans to discontinue service to the Daytona Beach Airport. The Florida Lottery has added midday drawings for Cash 3 and Play 4. Seaside Music Theater has canceled its entire 2008 Summer Season due to its financial situation. The Daytona Beach Museum of Arts & Sciences has become accredited by the American Association of Museums. "Daytona Live!" is an entertainment destination that will begin to take shape in 2010 across the street from the Speedway. Current plans call for Retail, Night Clubs, Restaurants, A Theater and Hotel along with residential space. Books-A-Million will return to the area in April, 2009 at the Volusia Mall. Breakers Oceanfront Park is now open south of the Main Street Pier. The park has parking, water play area, Beach access, Volleyball and benches. Florida ranked second in the country as Pro-Business in the Pollina Corporate Top 10 Pro-Business States Study. Residential building permits for the first quarter of 2008 were about half of what they were in the first quarter of 2007 according to the Volusia County Department of Economic Development. YMCA Organizations in Volusia & Flagler Counties are merging and members will have access to all YMCA facilities in both counties. A Holiday Inn is under construction at the I-95 LPGA Intersection. Kohl’s Department Store will open in September in Port Orange. Daytona State College is the new name for Daytona Beach Community College. Powerball, the Multi-State Lottery, is coming to Florida in January. Rhonda Lehnen & Shonda Stebleton join Ocean View Realty Group Rhonda Lehnen and Shonda Stebleton have joined Ocean View Realty Group as Licensed Real Estate Sales Associates. they received their real estate license in June of this year. Ocean View is at 1350A Ocean Shore Blvd. (House of Donuts Plaza) and has operated from the same location since 1991 specializing in Ormond by the Sea sales and rentals. Ms Lehnen, originally from Kansas City, MO, and Mrs. Stebleton from Ormond Beach, FL, will specialize in Ormond Beach Residential Sales. Rhonda & Shonda will concentrate on the Ormond Beach and Ormond by the Sea area. Rhonda & Shonda are also partners in Elegant Freestyle ReDecorators, LLC, an Ormond Beach based Decorating and Home Staging Company. Rhonda will continue to help part time at the office as she has done since December. MOVING? If you are changing your address and would like to continue receiving this newsletter, please let us know the new address. CONTACT OCEAN VIEW If you need information to help you buy, sell or rent your Ormond By The Sea property. Ocean View has been helping Buyers, Sellers and Renters from the same Ormond by the Sea location since 1991. Lots of information is available on our web site http://www.ovrealty.com/ and our rental web site at http://www.ormondbeachcondorentals.com/ or call us at 386-441-8245 or outside Florida a toll free call 1-800-356-3409. Email Deanna for rental information at ovrentals@aol.com Marion is our Realtor and can help with buying or selling. Email at ovforsale@aol.com Our general email address is ovrealty@aol.com . 2007 Ormond By The Sea Condo Market There were 50 Condos sold in Ormond By The Sea in 2007 compared to 43 in 2006. Five of the 2007 sales were listed by Ocean View Realty Group. At the end of 2006 there were 151 Condos for sale and at the end of 2007 there were 125. Many owners, especially those that purchased at the higher end when the market was hot are holding out for prices to go back up before putting their property on the market. Some would face a substantial loss if their property sold in the current market. Almost half of the 50 Condos sold in 2007 sold for $215,000 or less. There were 11 sales of 2 bedroom, 2 bath, ocean view condos above the first floor for $215,000 or less. That compares to zero in 2006. Of the 10, 2006 sales under $215,000 all were non ocean view or first floor units. Selling prices for ocean view condos across A1A from the beach in 2006 ranged from $265,000 to $346,000. Those selling prices are pretty much unattainable in the current market. 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/.

Corinthian Villa Unit 104 For Sale Ormond By The Sea Florida

Al Raymondi Ocean View Realty Group 386-441-8245 1926 Ocean Shore Blvd, Ormond Beach, FL Beautifully furnished 2 bedroom Ormond By The sea condo 2BR/2BA Condo offered at $179,900 Year Built 1973 Sq Footage 1,200 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking 1 Uncovered spaces Lot Size Unspecified HOA/Maint $350 per month DESCRIPTION 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 included in the sale except for some items of personal property. Beautifully updated and modernized kitchen with lighted dome ceiling and lots of cabinet space. This Condo unit has a unique feature – outside light! 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. $179,900. This is a fabulous condo for this price. see additional photos below PROPERTY FEATURES Central A/C Central heat Walk-in closet Living room Dining room Dishwasher Refrigerator Stove/Oven Microwave Balcony, Deck, or Patio Swimming pool COMMUNITY FEATURES Guest parking Laundry on-site ADDITIONAL PHOTOS Seller contact info: Al Raymondi Ocean View Realty Group 386-441-8245 For sale by agent/broker Equal Opportunity Housing Posted: Jul 28, 2008, 2:37pm PDT

Regency Plaza Condo Unit 301 For Sale Ormond By the Sea Florida

Ormond By The Sea Condo For Sale New to the market Regency Plaza Condo unit 301 $385,000 Direct Ocean front unit on the southeast corner of the building facing the ocean. Recent upgrades make this unique unit a must see! Living room and bedrooms all have access to the hugh balcony. Ceramic tile throughout. New kitchen and appliances. Hurricane standard windows and sliders. Wirlpool tub in master bedroom. Being sold fully furnished and equipped and ready for occupancy. 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

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Florida’s existing housing market shows improvement

Florida’s existing housing market shows improving conditions in June 2008 ORLANDO, Fla. — July 24, 2008 – Many Florida Realtors® statewide noted positive movement in their local housing markets in June, with an upswing in the statewide median price reported for both existing home sales and condominium sales over May 2008, according to the latest housing statistics released by the Florida Association of Realtors® (FAR). The statewide existing-home median price in June was $205,500, up 1 percent from May’s median price of $203,300. The median price of an existing condo last month was $183,700, also up 1 percent from May’s figure of $181,800.Nationally, existing home sales are expected to show some modest gains in the coming months, with a recovery predicted during the latter part of the year, according to the latest housing outlook from the National Association of Realtors® (NAR). “Some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half,” said NAR Chief Economist Lawrence Yun. “Price conditions vary tremendously, even within a locality.” In the year-to-year comparison, a total of 11,700 existing homes sold statewide last month while 12,276 homes sold in June 2007 for a decrease of 5 percent, according to FAR. Florida’s median sales price for existing homes last month was $205,500; a year ago, it was $244,400 for a 16 percent decrease. But, looking back to June 2003, the statewide median sales price for single-family homes has increased 26.9 percent over the five-year-period, according to FAR records – at that time, the statewide existing-home median price was $161,900. The median is the midpoint; half the homes sold for more, half for less.In a year-to-year comparison for condos, 3,628 units sold statewide compared to 3,851 in June 2007 for a 6 percent decline. The statewide existing-condo median sales price last month was $183,700; in June 2007 it was $212,400 for a 14 percent decrease. NAR reported the national median existing condo price was $223,400 in May 2008.The national median sales price for existing single-family homes in May 2008 was $206,700, down 6.8 percent from a year earlier, according to NAR. In California, the statewide median resales price was $384,840 in May; in Massachusetts, it was $322,500; in Maryland, it was $294,244; and in New York, it was $210,000.Last month, interest rates for a 30-year fixed-rate mortgage averaged 6.32 percent, down from the average rate of 6.66 percent in June 2007, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written. Several of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in June; a few MSAs also showed gains in condo sales. Realtors around the state reported heightened buyer interest in their markets, with a responding increase in telephone calls, home showings and other business activity.Among the state’s larger markets, the Orlando MSA reported a total of 1,641 homes sold in June compared to 1,595 homes a year ago for a 3 percent increase. The existing home median sales price was $219,500; a year ago, it was $258,100 for a 15 percent decrease. A total of 172 existing condos sold in the MSA last month compared to 188 condos the previous June for a decrease of 9 percent. The market’s existing condo median price was $132,900; a year ago, it was $156,900 for a 15 percent decrease. © 2008 FLORIDA ASSOCIATION OF REALTORS

April - June 2008 Ormond By the Sea Florida Condo Market

There are currently 109 Condos For Sale in Ormond By The Sea Florida. At the end of June 2007 there were 138 Condos For Sale in Ormond By the Sea. Many owners who have been unable to sell are trying to rent or otherwise holding out for the Market to improve and values to increase. 9 Condo Sales closed during the Quarter compared to 14 Sales in April - June 2007. 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 2008 Condo Sales In Ormond By The Sea Florida

There were NO Condo Sales closed in June 2008 in Ormond By the Sea through the Daytona Beach area Multiple Listing Service (MLS). June 2007 had 4 sales. There are 8 Units with pending contracts. 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/

NASCAR & ISC Getting New HQ In Daytona Beach, Florida

International Speedway Corporation has broken ground on a 8 story, 200,000 square foot office building across the street from Daytona International Speedway. The new building, scheduled for completion in late 2009, will house over 1,100 ISC and NASCAR employees. "Daytona Live!" An entertainment destation will subsequently be developed on the same site with Retail, Dinning, theatre, and a Hotel. 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/

Real Estate Market Nearing Bottom?

A recent Daytona Beach News Journal Article asked that question and presented statistics indicating a slowing of the decline in area home values. Read the full article at http://www.news-journalonline.com/ 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 Florida

For additional information about Ormond By The Sea Florida visit our Vacation Rental web page site at http://www.ormondbeachcondorentals.com/Ormond_By_The_Sea_info.php A rare World War II coastal watch tower was refurbished in 2004 including a placard placed at it’s base with a brief history. The 30 foot tower, built in the 1940’s was reorganized as a historic site in the mid 1990’s. The tower is on the dunes around the 2100 block of Ocean Shore Boulevard. Ormond By The Sea has an Oceanfront park (Tom Renick Park) with parking and picnic facilities and bicentenial park with tennis and ballfield facilities. Highbridge park is on the river and is a popular fishingspot and boat launch. There is also a nature trail. Ormond By The Sea information is also available at http://en.wikipedia.org/wiki/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.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/