Daytona Beach Real Estate

Mercedes Homes has built a lot of Daytona Beach homes over the past decade. Now they’ve filed for bankruptcy, and depending on how a bankruptcy judge rules, current warranties may be voided. That would put quite a few people in a bind.

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Rates were at 5.14% on Monday and 5.44% at the end of business today. Rising rates can cost you big time - look at the math now!

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It seems that mortgage modification is now a hot topic in Washington and more news is coming out nearly everyday. A few days ago, Citibank, removed its opposition to bankruptcy judges and trustees negotiating mortgage modifications with lenders and banks on behalf of homeowners.

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We just published our Weekly Daytona Beach Real Estate Report and a few quick notes came from our analysis this week:

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Over 560 Daytona Beach condos were sold in 2008. In what price range were most sold?

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Total sales of Daytona Beach homes and condos from the Daytona Beach MLS were 2900 in 2008. It will come as no surprise that this is the lowest sales level this decade.

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Low Prices and low interest rates present an unprecedented opportunity for the few who will take advantage. Here’s a plan from buying in 2009.

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Daytona Beach homes sales are up over 10%, inventories are down over 5% and things are really looking up. Not really, but these are two good signs, here’s why:

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