Market Conditions for Ormond Beach, Florida Reported by Diane Kirvan, REALTOR® CRS® GRI® ABR® SRES® ePRO® CFS® QSC® WCR® Updated October 14, 2009.

Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 1 1 2 3 4 5 Falling Rising

**** FOR MORE INFORMATION PLEASE CONTACT: DIANE KIRVAN, Realtor®, Certified Residential Specialist® @ RE/MAX All Pro Realty at (386) 405-5055 Direct or (800) 791-7108 Toll Free ****

The coastal areas of Volusia and Flagler Counties are fast becoming known as "the place to live" in Florida. If you want to live near the beach and escape the "madding crowds" that most of coastal Florida is experiencing THE GREAT NEWS IS ... for a coastal community with quick access to over 70 miles of gorgeous, white, sandy public beaches, including the "World's Most Famous Beach", Daytona Beach, we still have among the LOWEST HOUSING PRICES IN THE STATE OF FLORIDA

BUYERS . . . Now is the time to check out the outstanding housing values in the Greater Daytona Beach, Greater New Smyrna Beach/Edgewater and Flagler Beach / Palm Coast areas.

LOCATION ! LOCATION ! LOCATION! Baby Boomers are purchasing their second homes preparing for an early retirement or just retiring to our area in record numbers. Investors are back, competing for the best values in properties. Families are relocating here because of our great schools, warm, sunny weather, gorgeous beaches, close proximity to the Orlando attractions, such as Disney World, Epcot, MGM, Universal Studios, Sea World, and world class shopping malls, such as Mall at Millennia, as well as Orlando being a "world class" cosmopolitan city with much to offer, close enough to travel to for a day trip, but we don't have to suffer the Orlando traffic jams on our coastal areas. Close proximity to beaches, golf courses, the Intracoastal Waterway, restaurants, shopping, medical facilities, airports, major highways, some A-rated elementary & secondary schools, good private schools, colleges, parks, museums, theatres and much, much more are all fabulous reasons to move to this wonderful coastal community.

WE ARE NOW IN A RED HOT BUYER'S MARKET . . .
Since the beginning of September, 2005, our market has begun to cool down. Resale single family home & condo inventory has tripled. The Daytona Beach Multiple Listing Service has approximately 5,400 residential listings, which include condos, condotels, single family, single family attached & manufactured housing in the Greater Daytona Beach, Greater New Smyrna Beach and Palm Coast/Flagler County areas. To gain perspective as to what this means, in the summer of 2005 we averaged approximately 1800 residential listings.

THE GOOD NEWS IS is that housing is now affordable and mortgage interest rates are at all time lows.

BUYERS now have more inventory to choose from, runaway sales prices are finally over and many sellers may be willing to help buyers with closing costs.

We are still attempting to get a handle on how the market will progress, however, I believe that sales prices may finally level off by early 2010 and then predict very little appreciation over then next three to five years. We are still experiencing a "tsunami" of foreclosures and short sales that are flooding the market.

There are some real bargains to be found in our market. Buyers often have to actually "present serious, written offers" to find out who the "truly motivated sellers" are. I foresee that the "buy-flip" market will possibly be back in full-swing in 2010 or 2011. Serious buyers, who are READY TO BUY, must be pre-approved for financing, as many foreclosure banks and short sale third party decision makers are now requiring that buyers submit mortgage pre-approval letters from their mortgage lenders

Regardless of market conditions, well-planned real estate purchases have always been and will continue to be great investments.

****FOR MORE INFORMATION OR HELP WITH YOUR REAL ESTATE NEEDS, CALL DIANE KIRVAN, Broker Associate, Certified Residential Specialist, RE/MAX All Pro Realty TOLL FREE AT 1-800-791-7108 OR DIRECT AT 1-386-405-5055 ****


ZIP Codes: 32174, 32176

Approximate Location Boundaries: Ormond Beach is just North of Daytona Beach

Location Characteristics: Ormond Beach is a well-planned, scenic community close to great schools, shopping, medical facilities, parks, airports, major highways and the World's Most Famous Beach, Daytona Beach. Ormond By The Sea is a popular and scenic Ormond Beach beachside community.

For More Information:

• Visit My Web Site
  
• View My Newsletter
  
• Ask Me A Question