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Ron's Blog

(Daytona Beach, FL) –Single family home sales around the greater Daytona Beach area were down slightly in January, compared to the same month in 2016. Meanwhile, median sales prices were up compared to a year ago. 

For the month ending on January 31, 2017, the Daytona Beach Multiple Listing Service (MLS) reported that 297 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $200,000. It amounts to nearly a 5 percent decrease in sales and an 11 percent increase in prices, year over year. Month over month comparisons showed typical December-to-January trends with steady prices and reduced sales totals. 

Comparisons to previous months and 2016 SFR sales figures are below: 

  • January
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The rising home prices aren't signs of trouble. In fact, they're helping Florida homeowners in big ways.

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we've discussed at length throughout much of 2016, low inventory levels are playing a big role in the upward trajectory of home values because the seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home.

The great news about the rising prices is the role they're playing in family wealth. According to CoreLogic’s US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.

In Florida, homeowners saw an average

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The affordability of America's homes is on shaky ground, some experts now say. 

According to a recent CNBC report, rising mortgage rates, a lazy pace in income growth and steep climbs in home prices caused by low inventory levels are ultimately stars aligning in a troubling way. 

Homes are becoming less affordable... quickly. 

Right now, the average mortgage and interest payment for a home eats up about 22 percent of the median income in America,  a report from Black Knight Financial Services found. It's the least affordable homes have been in seven years. But thankfully, it's still below the 36 percent median income it took to afford a home at the height of the housing boom in 2005-2006.

Still, buyers' payments for a median priced home

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(Daytona Beach, FL) – Median sales prices in the Daytona area condo market rose to a strong $188,000 as condo sales inched further downward in January. 

An analysis of Daytona Beach Multiple Listing Service (MLS) data by The Wyse Home Team at Keller-Williams Realty showed there were 75 condo sales in January with a median sales price of $188,000. It’s an 18 percent drop from the sales totals seen the same month a year ago, and a 15 percent reduction from December’s sales. Meanwhile, median sales prices continued the upward trajectory seen through much of 2016. Median prices in January rose dramatically by 22 percent, year over year. And they were up 6 percent compared to December.   

Inventory levels in January remained down by 6 percent,

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The greater Daytona Beach area has hundreds of condo complexes. Many line the sugary sands of The World's Most Famous Beach. Many more line the beautiful banks of the Intracoastal Waterway, or Halifax River. And many more condo complexes can be found sprinkled around the region in downtown areas, near parks and schools, along busy thoroughfares and tucked into quiet neighborhoods. 

Choosing The Right Location

This is a matter of preference for buyers, but it's one of the first and most important things to consider as you begin shopping for your dream condo, or vacation condo.

Questions to help you determine the right location:

  1. Is there some place or some thing that you absolutely MUST be near. (Think about schools, parks, water bodies,
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(Daytona Beach, FL) – Home flipping continued its frenzied pace throughout 2016 with the Volusia County area climbing to the second highest spot among the metro areas with the nation’s highest flip rates. 

According to an annual report released by Trulia last week, house flipping around the nation hit a 10-year high and was so prolific that 6.1 percent of all home sales in 2016 were flips. The last time numbers were this high was in 2006, during the height of the housing boom. In 2015, 5.3 percent of homes sold were flips, the report said. 

(For the study, Trulia defined a flip home as “the purchase of a house at market rate and selling it at a higher market rate price, because of improvement to the property and/or rising prices” and it excluded

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The month of February is typically filled with fun in the greater Daytona Beach area.

Of course, some of the most well known fun offered around the Daytona area in February surrounds the rip-roaring racing events wrapped up as part of Daytona's annual Speed Weeks event. Daytona's Speed weeks gets a soft kickoff in January with the 24-hour Rolex race, but most of the Speed Weeks racing events are actually crammed into shorter experience more conducive for race fans and travelers, spanning a full week and pulling in the weekends before and after it.   This year, Speed Weeks will run Feb. 18-26 with numerous race events that will all lead up to NASCAR's famed Daytona 500 race also known as "The Great American Race."  The nine-day motor sports campaign

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Have you ever taken part in the rip-roaring fun that is Daytona's annual Speed Weeks event?

If so, you're one of the roughly 250,000 excited race fans and visitors that take part in the thundering sounds and sights included in the long lineup of racing fun that happens around Daytona Beach during Speed Weeks each year. 

Locals and visitors alike love the event as it draws great festivals, fun and a lively atmosphere that makes it obvious why so many people love to live, work and play in the greater Daytona Beach area.

This year, the Speed Weeks event runs Feb. 18-26. The nine-day motor sports campaign includes an action-packed schedule of six exciting races, culminating with the DAYTONA 500 which will showcase 59 years of history in the world's

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(Daytona Beach, FL) –In local real estate sales, 2016 ended strong. There were continued strong gains in median sales prices in year-over-year comparisons, giving local homeowners another reason to smile and celebrate as the New Year rolled into focus. Meanwhile, home sales were up compared to November, but down sharply year-over-year thanks to the ongoing inventory woes in the local market. 

For the month ending on December 31, 2016, the Daytona Beach Multiple Listing Service (MLS) reported that 356 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $200,000. That’s a 14 percent decrease in sales, year over year. Meanwhile, low inventory conditions kept prices soaring in December, as

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(IRVINE, Calif.) As 2016 drew to a close, industry experts did their annual foreclosure calculations and found the number of foreclosure filings was down 14 percent and had finally hit a 10-year low. 

ATTOM Data Solutions' Year-End 2016 U.S. Foreclosure Market Report showed that over the course of 2016, the there were 933,045 (0.7 percent of U.S. homes) foreclosure filings on U.S. properties. That's down 14 percent from 2015 and is the lowest level since the height of the boom in 2006, when there were just 717,522 filings (0.58 percent of U.S. homes). 

"The national foreclosure rate stayed within an historically normal range for the third consecutive year in 2016, even as banks continued to clear out legacy foreclosures from the last housing

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