Lewis Homes for Sale | Daytona Beach Real Estate

Daytona Beach Distressed Image

Lewis Homes for Sale in Daytona Beach Page Added

Lewis Homes for Sale Daytona Beach Real Estate

We just added a real estate listings page at lynnbyrne.com for Lewis homes for sale in Daytona Beach. The Lewis neighborhood subdivision is located in Daytona Beach north of Mason Avenue and west of Nova Road in the Derbyshire area. This community features mostly older lower priced houses. The area is convenient to shopping, restaurants and schools and universities.

Lewis Homes for Sale

There are many neighborhoods and subdivisions in Daytona Beach. Prices vary from well under $100,000 into the millions. Price is mostly determined by location, but is also based on size and whether the homes are up to date.

Click on the link to view all listings in the Lewis neighborhood. You can also view all homes for sale in Daytona Beach and select homes by price range.

We are in the process of adding all the subdivisions in Daytona Beach to this site. Each neighborhood and subdivision will have a listings page where all the available listings for the Daytona Beach MLS will be displayed.

We will be adding all the subdivisions. Some of these areas upscale including golf courses, security, gated access and high-end homes. Others are in the lower price ranges and the neighborhoods are not the most popular. We serve the entire community, both sellers and buyers and sell homes from well under $100,000 to into the million dollar range. Lewis is a lower priced neighborhood, but is suited to the needs of some buyers. If you’re interested in the Lewis neighborhood or any neighborhood in the Daytona Beach area, give Lynn a call at 386-566-7503.

Pent-Up Demand or Mini Housing Bubble

Homes Sales Up Nationally – What’s Going On?

House and Money ImageHome sales and prices are up nationally. The increase is taking up back to 2005 pricing levels. I’ve seen some news where the issue of a new bubble in home sales and prices is being talked about, but I don’t think this is what’s happening.

The bubble that burst in 2006 was fueled by speculators with access to easy money. Lenders were giving stated income mortgages to people who were simply not going to be able to pay them back. These speculative buyers could only survive if prices continued to rise. They didn’t and the wave of mortgage delinquencies, foreclosures and falling prices began.

We know that the latest price and volume increases are not fueled by easy money. Mortgage money is tight. Many of the REO to Rent investors are using cash, not borrowed money. Further getting back to 2005 prices is about where we should be without the crazing price increases during the bubble.

I just read an article over at AG Beat that gives the latest housing numbers and projections. These numbers are from pent-up demand that we’ve been expecting might happen for some time. Many buyers were waiting to see price increases before they bought. Now they’re seeing price increases accelerating and they’re jumping in. It’s normal market behavior. Be careful of news reports and current numbers. Watch the market over quarters and years and you’ll get a better idea of what is really happening.

Prices are rising in Daytona Beach and surrounding areas. You can check all area listings without registration at search Daytona Beach homes.

Have Daytona Beach Real Estate Prices Hit Bottom?

Have Daytona Beach Home and Condo Prices Seen the Bottom?

I’ve been looking at the Case-Shiller home price data today and the data seems to be showing that the two Florida areas included in the index are at or near bottom. The index includes Miami and Tampa metro areas. There is no specific listing for Daytona Beach home sales, but I think we are pretty much in line with Miami since we are on the east coast while Tampa sits on the west coast.

During the past twelve months, prices in Miami are up 1.8% while prices in Tampa are down 2.0%. If we average them, we’re pretty much flat. That’s a pretty good indication of where we are in Daytona Beach, Ormond Beach, Port Orange and the surrounding areas.

The Pundits Speak

The National Association of Realtors Chief Economist, Dr. Lawrence Yun, and Zillow chief economist Dr. Stan Humphries, have spoken recently on the market. While they’re not in complete agreement, their message is that home prices will bottom or rise slighly in 2012.

Dr. Yun says, “The housing market has clearly turned the corner… Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses.”

Dr. Humphries said recently, “For people who have been waiting to time their home purchase close to market bottom, it’s time to start shopping… When the bottom will hit will vary by market, and it’s nearly impossible to time a purchase exactly right. But home prices are not the only part of the equation. Buyers also should take into account the possibility that rising mortgage rates could offset any further home value declines that may occur.”

You may be thinking there’s some conflict of interest with these organization predicting a bottoming of prices, but I think it’s important to note that they haven’t made predictions of this sort previously. They are very careful because their predictions will be well publicized and they’ll lose credibility. They err on the side of caution. So when these two chief economists speak and agree, it’s a pretty big deal.

What Now For The Daytona Beach Real Estate Market?

As Dr. Humphries says above, no one can predict the exact bottom. Further, just because we’ve hit bottom doesn’t mean prices are going to leap upward. From the Miami Case-Shiller data, we see that the area hit bottom about six months ago, but there hasn’t been a big jump in prices since then.

Buyers of Daytona Beach homes and Daytona Beach condos who have been on the fence about prices, may want to start looking now. We believe there are plenty of bargains out there and there will be for the short term. Remember all price data reflects averages. Some buyers will get much better deals than others. That’s where we can help. We know the market and what’s selling and can help you get the best price for a property. We also are still working a lot of short sales and that’s where many of the best bargains can be found.

Please give Lynn a call at 386-566-7503 to discuss your options. Check here to –> search all homes and condos for sale in the Daytona Beach area.

Daytona Beach Mortgage News

Mortgage rates are very low right now, but it can be very difficult to qualify for a conventional mortgage. A stellar credit score and 20% down payment is needed for many conventional loans. Government guaranteed mortgages, such as a VA, FHA or USDA mortgage are a better option for many people.

The major advantages of the government guaranteed loans are low to no down payment and a lower credit score won’t automatically disqualify a borrower.

USDA loans can be made with no down payment and a credit score as low as 620. Not only that, but the loan can be for 103.5% of the appraised value. Up until now, there’s been no mortgage insurance, but that’s going to change as of October 1st. There is a funding fee with government loans and the new USDA funding fee will be 2.0%. The funding fee is down from 3.5% to help cover the new annual 0.3% mortgage insurance premium (MIP).

Another change to USDA loans will be changes to the eligibility maps. Since the last changes, suburban areas have creeped into the program and it’s expected that many of these areas will loose their eligibility. However, that doesn’t mean that a lot of towns around larger cities won’t be eligible. Towns of about 25,000 have been eligible in the past. We suspect that will remain with the new changes.

It’s a good idea to check out your eligibility for government guaranteed loans. They can keep money in your pocket by reducing your down payment and rolling closing costs into the loan. We suspect that much of Flagler county and Palm Coast homes will be eligible with the new changes.

It’s probably a really good time to consider buying a home if you’re going to finance. These loan rates will not hold. We suspect that when loans are freely available, the rates will explode. It’s interesting to note that rates are incredibly low, but few people qualify. One about 20% of Daytona Beach homes purchases are purchased using conventional mortgages. Case buyers account for about 55% and government loans and other forms of financing account for the rest.

Daytona Beach Real Estate April 2011 Sales Analysis

April 2011 Daytona Beach Real Estate Analysis Published

Are Daytona Beach homes and condo prices finally at the bottom? Are sales holding at their high levels? In what price range are the highest sales?

We’ve just completed our analysis for the month of April and our take on the current market. To get the full report, go here –> Daytona Beach Real Estate April 2011 Sales Report.

The quick take is that sales are up slightly over last year and big-time over 2009. Median and average sales prices have been steady within the current range for about a year. Home inventories are down over 25% since September 2008 and sales are up about 64% since then. Current months of inventory is at 10 months. In September 2008, the months of inventory was at 21.6 months.

While we can’t say that prices have hit bottom, we can say that we are near. That assumes, of course, that there are no catastrophic economic problems.

The numbers are all trending in the right direction and I’m seeing that in the market. Home and condo sales under $200,000 account for 78.7% of all residential sales and sales under $300,000 account for 90.4%. That mean that there is a huge gap in sales between lower priced and higher priced homes. The market might be considered hot for well-priced homes under $200,000 and cold for home above $300,000.

It’s important to keep in mind when thinking about real estate prices, that we remember that every sales is the result of negotiation between a buyer and a seller. The numbers reported in the Daytona Beach MLS are useful for guidance, but your skills in negotiating and choosing an agent to find the best value are important. When working with an agent, make sure to select someone who is active in the market and closing. With short sales and foreclosures, you need someone who is working with lenders every day and knows the complexity of those negotiations.

Please call me to discuss your needs. I’m available at 386-566-7503.

Daytona Beach Homes Sales Up 33.4% – 1st Half 2010

580 More Daytona Beach Homes and Condos Sold in 2010 First Half

Sales of Daytona Beach area real estate are up 33.4% in the first half 2010 compared to 2009 and 62.3% over the first half of 2008.

Here is the breakdown of the first half sales for the last three years:

  • 2010 – 2316 homes and condos sold
  • 2009 – 1736 sold
  • 2009 – 1427 sold

Numbers tell a little of the story, but the picture below shows the progression visually.

It’s obvious that the market has improved significantly over the past two years. Each month in 2010 has shown an increase in sales from the month before. Sales in June were 481 condos and homes sold.

The market is much stronger in the lower price ranges and that where about 90% of all sales are taking place. Homes and condos under $200,000 made up 74% of sales in June and sales under $300,000 made up 88.1% of all sales. Check out the June 2010 Daytona Beach homes sale report.

Contact Lynn at 386-566-7503 for more information or to discuss the current market and your options.

How to Clean Your Hardwood Floors

Cleaning Your Home or Condo Hardwood Floors

Wooden Floors

Beautiful hardwood floors are common in Daytona Beach area homes and condos. There’s a hard way and an easy way to clean hardwood floors. You can spend good money on specialized products, but an old standby from your pantry can work wonders.

Plain white vinegar used properly will clean you hardwood floors without worries about harsh chemicals on your floor or in the air. Vinegar won’t harm your children or pets either.

I found a nice article that describes the process of cleaning your hardwood floors. It’s written by a Brit, so enjoy the color (colour) of the language. Oh and 150ml is about 5 ounces and 4.5litres is just under 1 gallon and a quart (4.2 gallons). Enjoy the article.

Cleaning Your Hardwood Floor

Graham Baylis

Now that you have your beautiful hardwood flooring laid and settled, you need to know how to care for it.  Natural wood is very easy to care for and will last a very long time if looked after properly.  You do not need to spend hours cleaning and polishing your hardwood floor, a short time every few days or weekly will be enough.  There are many commercial products on the market for cleaning and caring for your wooden floor, however, there is a very effective old fashioned remedy which is cheap and easy and very natural.  It is distilled vinegar, the clear one which most of us have in our larders anyway. [Read more…]

All Real Estate Is Local

Remember – All Real Estate Is Local

Getting your real estate news through national news sources is dangerous to your financial health. I read a lot about real estate and too often I see so many examples of news reported that just doesn’t fit with our local situation.

I read today that mortgage applications are way down over the past four weeks. My initial reaction was a little panic about my business, but then I remembered that what’s happening nationally is out of sync with what’s happening in the Daytona Beach area.

My business is good. We had 17 phone and email inquiries over a 2-1/2 day period this week. These are people are buyers. We have a load of closings on the books over the next two to three months and we are writing a lot of contracts.

The Daytona Beach real estate market is out of sync with the national market. The things that make Daytona Beach, Ormond Beach and Port Orange attractive have not changed. The beach, ocean and weather that made the area to begin with are still here.

I urge you to take your real estate news in local doses. A good place to start is our just published Daytona Beach Area Home and Condo Sales Up in May 2010. We’ve also just updated our foreclosure pages to reflect current listings, you can see that at Daytona Beach Foreclosures Pages Updated.

As always, you can call me to discuss any home or condo, or just talk about the local market.

Tips for Daytona Beach Home Owners – Get Your Tax Credits

Make Sure You Get You Tax Credits for Consumer Energy Efficiency

<!– /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:””; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Arial; mso-fareast-font-family:”Times New Roman”;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} –>

Did you replace your hot water heater, windows, doors or A/C last year? Will you do it this year? You may have up to a $1,500 tax credit coming.

Many home owners are staying put. Most have no need to sell their Ormond Beach, Port Orange or Daytona Beach homes. That means that as systems like hot water heaters and air conditioners fail, they need to be replaced. If that has happened to you, you need to check the units you purchased to see if they are eligible for a tax credit from the federal government.

If you plan or need to replace hot water heaters, door, windows or and A/C unit this year, making sure that you buy a unit that is eligible for the tax credit could save you 30% of your purchase.

The federal government wants to encourage home owners to be more energy efficient. That’s why they’re providing this tax credit incentive.

The tax credit expires at the end of 2010. You can take 30% of the cost (including installation) up to a total tax credit of $1,500. If you spend $5,000 you can get the full $1,500 ($5,000 X .3 = $1,500). $1,500 is the maximum credit you can take for 2009 and 2010 combined.

The government’s Energy Star Site provides the details of determining if a product is eligible for the tax credit. It’s actually a good site with specifics of what’s eligible and a nice FAQ (frequently asked questions) section.

Luxury Homes Showcase – Flagler Beach Lakefront Home

Luxury Lakefront Flagler Beach, Florida Home Showcase

Our new showcase feature starts with this Flagler Beach Luxury Waterfront Home. This showcase features extended descriptions, features and pages. Here’s what the introductiion page looks like:

Now, it’s difficult to see the details in this thumbnail of the showcase, so click on over to see it in all its detail. This is a unique home. After meeting with the owner/builder for over two hours, I came away with a respect and appreciation for all the detailed planning he put into this home.

It’s 5 bedrooms and 4-1/2 baths on a lake that’s directly off the Intracoastal Waterway with views of the lake and the waterway from all three floors. The features are amazing. For instance, the kitchen has three ovens, two dishwashers, gas stove with 6 burners, multiple sinks and granite countertops throughout. The appliances are top of the line GE Monogram and really fit well with the design. Windows line the whole south wall for sunlight all year round.

The master suite has wood floors, an eye-level fireplace, waterfront views and a bath built for pampering. The tub is a Shiatsu Massager with air jets and colored lights. The shower has three jets to make showering an envigorating experience.

This is a must see for the luxury buyer in the Flagler Beach and Daytona Beach homes market. You will search a long time before you find a home like this.

Luxury sellers can expect this type of showcase for their properties. Please contact me to discuss options for your property.