Daytona Beach Real Estate Blog
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There’s a lot of information here about Daytona Beach Real Estate, covering the Daytona Beach area including Ormond Beach, Port Orange, Ponce Inlet, Holly Hill and the surrounding area.
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Apparently, the news media is catching up with some of the news that we’ve been reporting for awhile. There’s now recognition that nationwide, home prices were up 5.1% in February. Of course Daytona Beach real estate sales were up 15.3% in February over 2008 and 30.5% in January over the previous year.
Between Daytona Beach, Ormond Beach and Port Orange, there are now about 250 condos for sale in these Florida communities.
Bob Koslow wrote and article on Daytona Beach Condos yesterday in the News Journal and quoted me twice. I said “…cheap condos all over the place.”
You can now call your lender to see if you qualify for assistance under the government foreclosure prevention program. But remember these 2 things.
I just read the executive summary of President Obama’s Homeowner Affordability and Stability Plan. After getting through the smoke, all that’s left is hope.
Earlier this week mortgage rates for 30 year conventional mortgages were at 5.14%, today rates were at 5.44% according to bankrate.com.
Part of the conditions of the second release is that financial institutions receiving funds work with home owners on mortgage modification or mitigation to help them stay in their homes. Up to $100 billion of the $350 billion is targeted to individual home owners.
The national and Daytona Beach homes market is being flooded with short sales and foreclosure properties. It will continue until mortgage mitigation begins.
Yes they are at in again. The same wolves and sharks who brought you the sub-prime mess are now pushing FHA loans on unqualified borrowers. More foreclosures are on the way.