Daytona Beach Real Estate

You might be crazy smart to remodel now when competition is fierce and prices are at their lowest in a long, long time.

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So, yes, we have inflation and deflation happening at the same time. The best time to take advantage of buying a home to protect against inflation is when home prices are rising. That’s not happening.

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One minute video market report on Daytona Beach real estate market sales for the month of July through today. We’ve entered the video age. Our first video is on sales to date for the month of July presented by Mike Byrne. The length of the video is just under a minute.

 

 Daytona Beach Market Report Video: Play Now | Play in Popup | Download

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The Senate passing the housing bill can only do good things for the Daytona Beach Housing and Condo market. The benefit are two fold:

* Fewer homes will come on to the market
* Positive news

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A feature was published today titled 10 house-selling secrets at cnn.money.com. The title is real hype, but the article is good. It features an expert home stager from Toronto, who shows through pictures, some of the things that can be done to make a home more presentable to buyers.

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Daytona Beach Homes have declined over the past few years. There are a lot of homes on the market and it’s been a buyers market for a while now. Buyers have been in a great position, but, rising mortgage rates are threatening to close the window of great opportunity.

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In addition to home values and tight credit, Daytona Beach homes buyers now have something more to consider. Interest rates in early May were 5.80% for a 30 year conventional mortgage. Today, the rate as published by bankrate.com was at 6.42%.

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A higher rated air conditioner can save a lot of money. Electrical costs can increase by over $200 or more during the hot months in Daytona Beach.

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At this point in June, 107 homes and condos had been sold. For July, that number is at 131 properties as of this morning. I’m not going to read anything into this because we are below the May pace of 151 properties at the same point in the month. June sales were 259 properties and May were at 286. It appears that we are on pace for somewhere in that range.

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Bankrate.com lists their highest Safe & Sound® ratings at 5 and that’s what they still give IndyMac, five days after its failure.

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