Bob Koslow wrote and article on Daytona Beach Condos yesterday in the News Journal and quoted me twice.
The article is pretty wide ranging, but here’s what I had to say about prices:
“There cases of cheap condos all over the place'” said Lynn Byrne, a Realtor with Exit Realty in Daytona Beach. “Prices are low, mortgage rates are low, and there is a wide variety for sale. I don’t know why anyone would pay the asking price in today’s market.”
I was talking to Bob about condos, but all of Daytona Beach real estate is experiencing the same low prices and availability. In our area of Florida, many condos and homes sit waiting for buyers in New Smyrna Beach, Ormond Beach, Port Orange and even on the ocean in Ponce Inlet. Palm Coast Condos are also available at great prices. Now everyone is concerned about prices, and I acknowledge that when I said:
“The most challenging thing is to get a client to give me a maximum price they want to pay. There are two bedroom units for $100,000 to $1,000,000,” she said. “This is the best time for buyers, but there is still some fear that prices may still fall more.”
I read an article by Joel McDonald, a Boulder Colorado Realtor where he talked about real estate prices bottoming. He made a great comment when he said, “Unfortunately, the only way to tell when the real estate market has bottomed out, is to look back after it has happened and realize you missed the bottom.”
More real estate investors are concerned about missing the bottom now than just a few months ago, so my advice is to keep a careful eye on prices and interest rates.
I’ll finish with the rest of what I said in Bob Koslow’s article:
“Real estate agents are still the best way to find a good deal,” Byrne said.
She asks that potential buyers have some idea about the number of bedrooms they want, the size, views, floor, location (oceanfront can cost 20 percent to 30 percent more than on the west side of A1A) and desired amenities along with the most crucial issue, money.
I’ve never looked about myself as someone who would be quoted in the media. My focus has always been on my customers and meeting their needs. It’s nice though to get some recognition for my 12+ years of experience as a Daytona Beach real estate agent. Give me a call at 386-566-7503 if I may be able to assist you in finding a condo or home.
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