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March 2016

Found 8 blog entries for March 2016.

The Wyse Report

For Immediate Release: March 15, 2015


(Daytona Beach, FL) –February home sales floundered in the Daytona Beach area, with year over year sales falling by a percentage almost as great as the year over year median price increase. 

According to the Daytona Beach Multiple Listing Service (MLS), for the month ending on February 29, 2016, 318 existing single-family homes (detached) were sold in the Daytona Beach area with a median home sales price of $183,500. The figures represent a 21 percent decrease in total sales and a whopping 22 percent increase in median sales price, year over year. Compared to January, both sales and prices were up.  


Comparisons to previous months and 2015 single family home sales figures are below: 

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    The Easter holiday is not far away, with all it's reverent religious meaning and pastel-filled-egg-fun. So we figured that the locals and far flung visitors alike wouldn't mind a few ideas for where and when to find Easter related gatherings and festivities. 

    Pastel colors. Sweet candy treats. And oh the adrenaline of the HUNT! Here's a look at just a few of the MANY Easter Egg Hunts being held around the greater Daytona Beach area:

    Holly Hill, March 19. There will be an Easter Egg Hunt from 10 a.m. to 12 p.m. at City Hall (1065 Ridgewood Ave.)

    South Daytona, March 19. The City is hosting an Easter Egg Hunt and mini festival from 9:45 a.m. to noon at Reed Canal Park (919 Reed Canal Rd.). Get there

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    So, the experts all say the economy has "officially" recovered from the recession (more or less). And you've been talking to a few of your friends up north, or maybe out west, or wherever. They're talking about buying boats and vacation homes.

    They recently sold their home to buy a bigger one and made a MINT on the old place. It got you thinking. No, dreaming. Dreaming about that oceanfront condo you've always wanted. Or a bigger yard for Fido and a pretty swimming pool for the kids. 

    But you're perplexed because that home value checker thingy on the FREE HOME VALUE site keeps telling you a big payday isn't on its way for your Florida home. What's going ON?

    Here's what: 

    The housing markets hardest hit by the bubble and bust several years

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    There are many Millennials debating whether to renew their lease or finally pull the trigger on buying their first home.

    While The Wyse Home Team and all the industry experts have spent much time urging the up and coming generation to buy a home now, while interest rates are still at historic lows and rents are rising fast with no end in sight, some young adults remain on the fence.

    But those Millennials who gathered their courage and have already bought a home are speaking up to say the experience is doing more for them than just saving them from some rent hikes and interest rate rises. It's building them WEALTH and security for their future they didn't previously expect. 

    Housing Cost & Net Worth

    Whether you rent or buy, you have a monthly

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    You've seen the online advertisements... "Buy a Florida condo CHEAP!" ... "Affordable Florida Condos, priced as low as $25k!"

    It's true. You can get a beachfront condo in the greater Daytona Beach area on the cheap. What you get for that rock bottom price is usually a condotel. A condotel is a little different than a typical condo. Think of it as a hotel room you own. 

    FOR SOME BUYERS, a condotel is the perfect investment. But others may find a more traditional condo complex would be a better fit for their lives because a condotel doesn't meet their needs.

    Here are some key things you should know when deciding whether to buy a condo, or a condotel.

    Some Benefits

    1. Condotels are an affordable option for beachfront vacation
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    The Wyse Report

    Sales down, prices strong

     

    (Daytona Beach, FL) – An analysis by The Wyse Home Team at Keller-Williams Realty in Port Orange, FL, showed sales of condos and condotels in the Daytona Beach area dropped significantly in February, compared to the same month a year earlier. Prices, however rose slightly year over year. According to the Daytona Beach Multiple Listing Service (MLS), there were 87 condo sales in February, a 13.8 percent reduction from condo sales closed in February 2015. Median sales prices, meanwhile, rose by 4 percent to 169,000. 

    “Low inventory levels in the market right now likely caused the sales slowdown in February” said Ron Wysocarski, CEO of The Wyse Home Team at Keller Williams Realty in Port Orange. “Buyer

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    While The Wyse Home Team believes that our local market's growth in terms of sales and home prices could slow down sometime during 2016, it hasn't happened yet. In fact, most experts predict the spring and summer sales season will be as busy as ever in Florida, and they're probably right. 

    One of the key indicators we watch to know when the market is shifting is the market demand and inventory. In February, the Daytona Beach Area Association of Realtors Multiple Listing Service (MLS) data indicates there was 5.29 months worth of inventory listed in the market. That's down dramatically from the 7 months worth of inventory on the market in February 2015. 

    While these numbers tell us nothing about the market of tomorrow or the condition we can expect

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    March has arrived, so it's time to drop the winter doldrums and find a little fun to cure your Spring Fever. Whether you're lucky enough to live, work and play in the greater Daytona Beach area year-round, or if you're just visiting, March is a time when most are glad they're here. There's so much to see and do!

    In case the winter fog is still a bit settled on your brain, here's a few ideas to get you moving again!

    • Bike Week 2016: Daytona Beach Bike Week runs from March 4 to March 13. If you ride, it's time to pull out the ole' hog and rumble all the best riding roads like a local who knows what they're doing! With or without a bike, you may also want to pay a visit to downtown Daytona Beach to enjoy some of the awesome live music, great drink
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