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October 2017

Found 6 blog entries for October 2017.

Median sales prices of single family homes around the greater Daytona Beach area held strong as overall hurricane Irma caused sales totals to fall. 

For the month ending on September 30, 2017, the Daytona Beach Multiple Listing Service (MLS) reported that 341 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $226,000. It amounts to a 13.8 percent increase in median sales prices and a more than 11 percent decline in sales, year over year. In month over month comparisons, sales fell by 18 percent and median prices held steady, climbing just slightly by less than half a percentage point.   

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

  • Sept. 2017: 341
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What's holding you back from home ownership right now?

Is it a lack of money for a down payment? Are you afraid your credit score isn't high enough? 

What if you're wrong about the amount of money and credit score you think you need for a down payment. You just MIGHT BE! And you're not alone. 

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found potential buyers are pretty confused about what is required to qualify for a home mortgage loan in today’s housing market. When NAR did their survey, they found the majority of non-homeowners out there said their main reason for not currently owning a home is they couldn't afford one. 

But they weren't referring to the actual ongoing costs of home ownership. They were

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In a recent news article, one millionaire financial guru threw out the red warning flag, saying "the single biggest mistake millennials are making” is not buying a home. Without a real estate investment, they're missing a key "escalator to wealth,” says David Bach.

The author and speaker went on to explain that the first real estate investment is such a crucial foundation of building wealth, that their chances of having "any wealth" at all is "little to none" if today's young adults don't get busying buying a home 

“The average homeowner to this day is 38 times wealthier than a renter," Bach points out.

For him, it's all about the math. In his bestselling book, “The Automatic Millionaire,” Bach suggests that renters could easily drop half a

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Condo sales sunk in September around the greater Daytona Beach area as median sales prices held high. 

An analysis of Daytona Beach Multiple Listing Service (MLS) data by The Wyse Home Team at Keller-Williams Realty showed there were 116 condo sales in July with a median sales price of $210,000. It amounts to a 17.7 percent decrease in sales and a 10.5 percent increase in median prices, compared to September 2016. Meanwhile, sales and prices were both down in month over month comparisons.

“As expected, Hurricane Irma had an impact on the local real estate market. Business comes to a halt for several days for the preparation and duration of any storm. Then after the storm passes, it’s common to see some pending home and condo sales fall apart, while

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According to a recent survey rolled out by ClosingCorp, a significant number of home buyers get to the closing table and find the closing costs associated with obtaining their home mortgage surprising.

In fact, the survey found that OVER HALF all home buyers they spoke to were surprised by the closing costs they paid. 

The survey studied both first time and repeat home buyers, and they spoke to about 1,000 people. Interestingly, about 17 percent of those folks didn't expect to pay closing costs at all. Another 35 percent of people who took part in the survey were slack jawed by the the difference between what they thought the costs would be and how high they actually ended up being. 

Among the most surprising costs to buyers were mortgage

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