Daytona Beach Homes Buyer Strategy Guide
At the end of January 2008, there were over 6,600 homes and condos for sale in Daytona Beach, Florida and the surrounding area. These are the homes for sale through the Daytona Beach MLS and the numbers do not include homes for sale by owner (FSBO).
If you are trying to sell your home, this could be a disaster. There is more competition than than ever and prices are falling. The most recent information for 2007 shows a drop in home prices in the Daytona Beach / Ormond Beach / Deltona area of about 8.2% (See Daytona Beach Florida 2007 Home Prices). The burning question for buyers
is how long these conditions will last.
This is the first in a series of articles that will address buyer’s strategies for Daytona Beach Real Estate.
Why do You Need a Home Buying Strategy for Daytona Beach Real Estate?
A strategy is needed in this real estate market because there are so many opportunities for buyers who approach the home buying process intelligently. However, there are pitfalls that must be avoided in any market. One of our main tenets in intelligent home or condo buying is: The selection of a home is emotional, the negotation and buying process is business.
First Steps First
The first step that must be answered is: What is our purpose in buying this property?
Some of the possibilites include:
- Primary residence
- Second Home
- Vacation Home
- Investment Property
The next question to answer is: Why are we engaging in the buying process NOW?
This might include:
- We need a bigger home
- We need a place to get away from the nasty winters
- To take advantage of the market
- To buy low and sell higher when the market comes back
- We love Daytona Beach and want to live here
When the answers to these two questions are clear you can begin the next phase of the process – Defining the criteria for the Daytona Beach home search.
Go to part two of Daytona Beach Real Estate Home Buyers Strategy Guide.