Daytona Beach Real Estate Blog

Mortgages rates are up 1/2% over the past two weeks. This is not good news for people in the market for Daytona Beach Homes or condos. The 30 year fixed conventional mortgage rate was at 5.8% two weeks ago. The rate today is 6.3%.

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Mortgage rates moved up about 3.5% over the last week from 5.8% to 5.99%. If you are in the market for a new home or condo, or considering a purchase in the near future, you should be paying attention to the rates.

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The New Role of Real Estate Agents and Home Owners
Home owners will use online services to set their price and online home marketing sites to market it. Real estate professionals will get paid if they bring a buyer, but their services will not be required for listing the home.
That’s what an article at CNN titled, [...]

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$70,000 is a lot of money. That’s the estimate for an average foreclosure when all costs are included.

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The Daytona Beach Homes mirror the national scene pretty well with sales holding steady to a slight decline. Be careful of interest and overly conservative lenders.

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Real estate is local. We know that. We are experiencing a down market in Daytona Beach, but overall US markets are about equal for up markets versus and down markets. The overall Daytona Beach decline for residential home sales was an estimated 8.2% by the National Association of Realtors (NAR) for 2007.

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He mentioned that he was in the process of selling his home using a short sale. The lawyer jumped and said get that home of the market…

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How does the announcement made today about six large large mortgage lenders freezing foreclosures affect the Daytona Beach real estate market?

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Would you consider investing in the fastest growing winter beach destination in the continental United States?

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Both Volusia (Daytona Beach, Ormond Beach, Port Orange, Deland and surrounding areas) and Flagler (Palm Coast) Counties home markets have been classified by Countrywide, the mortgage lender, as category 5 counties in their soft market categories list.

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