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Lending Standards Are Not Like They Were Leading Up to the Crash

Lending Standards Are Not Like They Were Leading Up to the Crash Simplifying The Market

You is perhaps frightened we’re heading for a housing crash, however there are various the explanation why this housing market isn’t just like the one we noticed in 2008. One in all which is how lending requirements are completely different in the present day. Right here’s a take a look at the information to assist show it. 

Each month, the Mortgage Bankers Affiliation (MBA) releases the Mortgage Credit Availability Index (MCAI). In line with their web site:

“The MCAI supplies the one standardized quantitative index that’s solely centered on mortgage credit score. The MCAI is . . . a abstract measure which signifies the supply of mortgage credit score at a time limit.”

Mainly, the index determines how simple it’s to get a mortgage. Check out the graph under of the MCAI since they began preserving observe of this knowledge in 2004. It reveals how lending requirements have modified over time. It really works like this: 

  • When lending requirements are much less strict, it’s simpler to get a mortgage, and the index (the inexperienced line within the graph) is greater.
  • When lending requirements are stricter, it’s more durable to get a mortgage, and the road representing the index is decrease.

In 2004, the index was round 400. However, by 2006, it had gone as much as over 850. As we speak, the story is sort of completely different. Because the crash, the index went down as a result of lending requirements acquired tighter, so in the present day it’s more durable to get a mortgage.

Unfastened Lending Requirements Contributed to the Housing Bubble

One of many primary elements that contributed to the housing bubble was that lending requirements had been lots much less strict again then. Realtor.com explains it like this: 

“Within the early 2000s, it wasn’t precisely exhausting to snag a house mortgage. . . . loads of mortgages had been doled out to individuals who lied about their incomes and employment, and couldn’t really afford homeownership.” 

The tall peak within the graph above signifies that main as much as the housing disaster, it was a lot simpler to get credit score, and the necessities for getting a mortgage had been removed from strict. Again then, credit score was extensively obtainable, and the edge for qualifying for a mortgage was low.

Lenders had been approving loans with out at all times going by way of a verification course of to verify if the borrower would seemingly be capable of repay the mortgage. Meaning collectors had been lending to extra debtors who had a better danger of defaulting on their loans.

As we speak’s Loans Are A lot More durable To Get than Earlier than

As talked about, lending requirements have modified lots since then. Bankrate describes the distinction: 

“As we speak, lenders impose robust requirements on debtors – and those that are getting a mortgage overwhelmingly have glorious credit score.”

In case you look again on the graph, you’ll discover after the height across the time of the housing crash, the road representing the index went down dramatically and has stayed low since. In truth, the road is much under the place requirements had been even in 2004 – and it’s getting decrease. Joel Kan, VP and Deputy Chief Economist at MBA, provides the newest replace from Could:

“Mortgage credit score availability decreased for the third consecutive month . . . With the decline in availability, the MCAI is now at its lowest degree since January 2013.”

The reducing index suggests requirements are getting a lot more durable – which makes it clear we’re distant from the acute lending practices that contributed to the crash.

Backside Line

Main as much as the housing crash, lending requirements had been far more relaxed with little analysis accomplished to measure a borrower’s potential to repay their mortgage. As we speak, requirements are tighter, and the danger is lowered for each lenders and debtors. This goes to indicate, these are two very completely different housing markets, and this market isn’t just like the final time.

Continue reading…

Posted in: Blog, For Buyers, For Sellers, Housing Market Updates

The True Cost of Selling Your House on Your Own

The True Cost of Selling Your House on Your Own Simplifying The Market

Selling your house isn’t any easy activity. Whereas some owners choose to promote their houses on their very own, referred to as a FSBO (For Sale by Proprietor), they typically encounter numerous challenges with out the steering of an actual property agent. Should you’re at present contemplating promoting your home by yourself, right here’s what you need to know.

The latest Profile of Home Buyers and Sellers from the Nationwide Affiliation of Realtors (NAR) surveyed owners who’d not too long ago offered their very own houses and requested what difficulties they confronted. These sellers say a number of the biggest challenges had been prepping their dwelling on the market, pricing it proper, and correctly managing the required paperwork, simply to call just a few.

On the subject of promoting your most valuable asset, take into account the invaluable help that an actual property agent can present. By partnering with an agent, you may navigate the complexities of the promoting course of with confidence. Listed below are only a few of the various methods an agent is crucial to your property sale:

1. Advertising and marketing and Publicity

Efficient advertising is a key piece of attracting certified consumers to your property. Actual property brokers have entry to numerous advertising instruments and platforms, together with MLS listings, skilled pictures, digital excursions, and intensive skilled networks. They will create a compelling itemizing that highlights your property’s greatest options and reaches a wider viewers.

Should you promote by yourself, you might battle to match the attain of brokers, leading to restricted publicity and, finally, fewer potential consumers.

2. Managing Legal responsibility and Authorized Concerns

Immediately, extra disclosures and laws are obligatory when promoting a home. And all that paperwork and all of the authorized elements of promoting a house is usually a lot to handle. Promoting a home with out skilled steering exposes owners to potential legal responsibility dangers and authorized issues.

Actual property brokers are well-versed within the contracts, disclosures, and laws mandatory throughout a sale. Their experience helps reduce the chance of errors or omissions that might result in authorized disputes or delays.

3. Negotiations and Contracts

Negotiating the phrases of a house sale could be difficult, particularly when feelings are concerned. It’s possible you’ll discover it overwhelming to navigate these negotiations alone. With out an agent, you assume this accountability by yourself. This implies you’ll have full accountability for working and negotiating with:

  • The customer, who desires one of the best deal attainable.
  • The customer’s agent, who will use their experience to advocate for the client.
  • The house inspection firm, who works for the client.
  • The house appraiser, who assesses the property’s worth to guard the lender.

Fairly than going toe-to-toe with all these events alone, lean on an knowledgeable. Actual property brokers act as intermediaries, skillfully negotiating in your behalf and making certain that your greatest pursuits are protected. They’ve expertise in dealing with robust negotiations, counteroffers, and contingencies. If you promote your home your self, you’ll should be ready to handle these distributors by yourself.

4. Pricing and Housing Market Data

Figuring out the precise asking price on your property is essential. It requires in-depth data of the native actual property market, together with current gross sales knowledge, neighborhood tendencies, and the present demand for properties. Actual property brokers have entry to complete market data and the experience to investigate it precisely.

If you promote your home by yourself with out this complete info, you threat overpricing or underpricing your property. This can lead to an prolonged time in the marketplace and likewise the chance of leaving cash on the desk – which decreases your future shopping for energy. An agent is a key piece of the pricing puzzle.

Backside Line

Whereas promoting a house by yourself might sound interesting at first, the challenges that include it may well shortly turn out to be overwhelming. The experience that an actual property agent brings to the desk is important for a profitable sale. As a substitute of tackling it alone, be sure to have an knowledgeable in your facet.

Continue reading…

Posted in: Blog, For Sellers, FSBOs, Selling Myths

Eco-Friendly, Energy-Efficient Homes Attract Buyers

Eco-Friendly, Energy-Efficient Homes Attract Buyers Simplifying The Market

Are you planning to sell your own home? In that case, chances are you’ll be shocked to listen to simply how a lot patrons worth power effectivity and eco-friendly options in the present day. That is very true as summer formally kicks off.

In reality, the 2023 Realtors and Sustainability Report from the Nationwide Affiliation of Realtors (NAR) reveals 48% of brokers or brokers have observed shoppers are curious about sustainability.

 So, if you happen to’re contemplating promoting your own home, why does this matter to you? It helps you realize what you are able to do to make your own home much more interesting to in the present day’s patrons. According to Jessica Lautz, Deputy Chief Economist and VP of Analysis at NAR: 

“Patrons typically search houses that both reduce their environmental footprint or scale back their month-to-month power prices. There’s worth in selling inexperienced options and power data to future house patrons.”

Contemplate Upgrading Your House To Make It Extra Interesting

If you wish to improve your own home in a approach that maximizes its inexperienced enchantment, you might want to work with a neighborhood agent to know what patrons in your space are in search of. The identical NAR report identifies the next inexperienced house options as most essential to patrons at a nationwide degree: 

  • Home windows, doorways, and siding
  • Proximity to regularly visited locations
  • A cushty residing house
  • A house’s utility payments and working prices

When you can’t change the placement of your own home, you’ll be able to take motion to verify it’s as snug as attainable whereas additionally organising the following house owners for decrease working prices. ENERGY STAR shares some recommended upgrades as ones which may be price contemplating:

  • Heating and cooling: Guarantee your HVAC system is correctly maintained and usually serviced to maximise its effectivity. Contemplate upgrading to a high-efficiency mannequin, if wanted.
  • Water heater: Your water heater makes use of quite a lot of power. Upgrading to a warmth pump water heater can considerably scale back power consumption and enchantment to environmentally acutely aware patrons.
  • Sensible thermostat: An enormous a part of your power invoice goes to heating and cooling. Set up a programmable thermostat to raised regulate temperature settings. This not solely enhances consolation however can even decrease power utilization.
  • Attic insulation: Correct sealing and insulation in your attic assist forestall air leaks and keep a cushty temperature, lowering the pressure on heating and cooling programs.
  • Vitality-efficient home windows: Changing previous, drafty home windows with energy-efficient ones can decrease warmth switch and decrease your power payments.

 It is price noting that you just could possibly make the most of tax credits and rebates for energy-efficient house installations and upgrades. These incentives may assist offset a portion of the prices related to eco-friendly house enhancements.

As you put together to sell your own home, it is essential to acknowledge that actual property brokers are beneficial sources. They will help you establish which upgrades can be most interesting for patrons in your space and supply steerage on which inexperienced options to focus on in your itemizing. Should you’ve already made these updates not too long ago, inform your agent to allow them to characteristic them in your itemizing.

Backside Line

Specializing in power effectivity and eco-friendly options will help make your own home extra interesting to patrons in the present day. Join with a neighborhood actual property agent to make sure you’re choosing the proper upgrades on your space.

Continue reading…

Posted in: Blog, For Sellers, Housing Market Updates

Why the Median Home Price Is Meaningless in Today’s Market

Why the Median Home Price Is Meaningless in Today’s Market Simplifying The Market

The Nationwide Affiliation of Realtors (NAR) will launch its newest Current Residence Gross sales (EHS) report later this week. This month-to-month report offers data on the gross sales quantity and worth pattern for beforehand owned houses. Within the upcoming launch, it’ll possible say home prices are down. This will likely really feel a bit complicated, particularly if you happen to’ve been following alongside and seeing the blogs saying that house costs have bottomed out and turned a corner.

So, why will this possible say home prices are falling when so many different worth experiences say they’re going again up? All of it relies on the methodology of every report. NAR experiences on the median gross sales worth, whereas another sources use repeat gross sales costs. Right here’s how these approaches differ.

The Heart for Actual Property Research at Wichita State College explains median costs like this:

“The median sale worth measures the ‘center’ worth of houses that offered, which means that half of the houses offered for the next worth and half offered for much less . . . For instance, if extra lower-priced houses have offered not too long ago, the median sale worth would decline (as a result of the “center” house is now a lower-priced house), even when the worth of every particular person house is rising.”

Investopedia helps outline what a repeat gross sales strategy means:

“Repeat-sales strategies calculate adjustments in house costs primarily based on gross sales of the identical property, thereby avoiding the issue of making an attempt to account for worth variations in houses with various traits.”

The Problem with the Median Gross sales Value At the moment

Because the quotes above say, the approaches can inform totally different tales. That’s why median worth knowledge (like EHS) might say costs are down, regardless that the overwhelming majority of the repeat gross sales experiences present costs are appreciating again.

Invoice McBride, Writer of the Calculated Danger weblog, sums the distinction up like this:

“Median costs are distorted by the combo and repeat gross sales indexes like Case-Shiller and FHFA are in all probability higher for measuring costs.”

To drive this level house, right here’s a easy rationalization of median worth (see visible beneath). Let’s say you’ve gotten three cash in your pocket, and also you resolve to line them up in accordance with their worth from low to excessive. When you’ve got one nickel and two dimes, the median worth (the center one) is 10 cents. When you’ve got two nickels and one dime, the median worth is now 5 cents.

In each instances, a nickel continues to be value 5 cents and a dime continues to be value 10 cents. The worth of every coin didn’t change.

That’s why utilizing the median house worth as a gauge of what’s taking place with house values isn’t worthwhile proper now. Most patrons take a look at house costs as a place to begin to find out in the event that they match their budgets. However, most individuals purchase houses primarily based on the month-to-month mortgage fee they will afford, not simply the worth of the home. When mortgage rates are larger, you could have to purchase a inexpensive house to maintain your month-to-month housing expense inexpensive. A better variety of ‘less-expensive’ homes are promoting proper now for this precise cause, and that’s inflicting the median worth to say no. However that doesn’t imply any single home misplaced worth. 

Once you see the tales within the media that costs are falling later this week, bear in mind the cash. Simply because the median worth adjustments, it doesn’t imply house costs are falling. What it means is the combo of houses being offered is being impacted by affordability and present mortgage rates.

Backside Line

For a extra in-depth understanding of house worth traits and experiences, attain out to an area actual property skilled.

Continue reading…

Posted in: Blog, For Buyers, For Sellers, Housing Market Updates, Pricing

Why Buying or Selling a Home Helps the Economy and Your Community

Why Buying or Selling a Home Helps the Economy and Your Community Simplifying The Market

In the event you’re serious about buying or selling a home, it is necessary to know that it would not simply have an effect on your life, but in addition your group.

The Nationwide Affiliation of Realtors (NAR) releases a report yearly to point out how a lot financial exercise is generated by home sales. The chart under illustrates that influence:

Because the visible exhibits, when a home is offered, it could make an enormous distinction within the native economic system. The influence comes largely from the employees required to construct, replace, and purchase and promote properties. Robert Dietz, Chief Economist on the Nationwide Affiliation of Dwelling Builders (NAHB), explains how the housing trade adds jobs to a group:

“The financial influence means housing is a big job creator. In actual fact, for each single-family residence constructed, sufficient financial exercise is generated to maintain three full-time jobs for a 12 months, per NAHB analysis. . . . And one job for each $100,000 in transforming spending.” 

Housing being a serious job creator is smart when you think about there are lots of totally different industries concerned within the course of. A current article from Fortune notes housing exercise might have a extra sturdy influence than you suppose because of the some ways it’s tied to the economic system:

“Housing has three direct linkages to financial exercise (GDP): the development of recent properties, the reworking of current properties, and that of housing transactions. . . . take into account the exercise related to residence gross sales – suppose dealer charges, attorneys, and so on. – that are a large contributor to housing’s GDP footprint.” 

Once you buy or promote a house, you’re employed with a team of professionals, together with contractors, specialists, attorneys, and metropolis officers. Every particular person performs a task in making the transaction occur. 

So, once you make a move within the housing market, you are not simply meeting your personal wants, you are additionally making a optimistic influence on the group. Realizing this can provide you a way of empowerment as you make your determination this 12 months.

Backside Line

Each residence sale is necessary for the native economic system. In the event you’re able to move, attain out to a trusted actual property agent. It gained’t simply change your life – it’ll even have a robust optimistic impact on the entire group.

Continue reading…

Posted in: Blog, For Buyers, For Sellers

A Drop in Equity Doesn’t Mean Low Equity

A Drop in Equity Doesn’t Mean Low Equity Simplifying The Market

You might even see media protection speaking a couple of drop in home-owner fairness. What’s essential to know is that fairness is tied carefully to house values. So, when house costs respect, you possibly can count on fairness to develop. And when house costs decline, fairness does too. Right here’s how this has performed out not too long ago. 

Residence costs rose quickly throughout the ‘unicorn’ years. That gave owners a substantial fairness increase. However these ‘unicorn’ years couldn’t final perpetually. The market needed to average sooner or later, and that’s what we noticed final fall and winter. 

As house costs dropped barely within the again half of 2022, fairness was impacted. Based mostly on the newest report from CoreLogic, there was a 0.7% dip in home-owner fairness during the last 12 months. Nonetheless, the headlines reporting on that change aren’t portray the entire image. The truth is, whereas home price depreciation throughout the second half of final 12 months brought on fairness to drop, the info reveals owners nonetheless have close to document quantities of fairness. 

The graph beneath helps illustrate this level by wanting on the complete quantity of tappable fairness on this nation going all the way in which again to 2005. Tappable fairness is the quantity of fairness obtainable for owners to entry earlier than hitting a most 80% loan-to-value ratio (LTV). As the info reveals, there was a big fairness increase throughout the ‘unicorn’ years as house costs quickly appreciated (see the pink within the graph beneath).

However right here’s what’s key to appreciate – although there’s been a small dip, complete home-owner fairness continues to be a lot larger than it was earlier than the ‘unicorn’ years.

And there’s extra excellent news. Current house value reviews present the worst home price declines are behind us, and costs have began to go up once more. As Selma Hepp, Chief Economist at CoreLogic, explains:

“Residence fairness developments carefully observe house value modifications. Because of this, whereas the typical quantity of fairness declined from a 12 months in the past, it elevated from the fourth quarter of 2022, as month-to-month house costs progress accelerated in early 2023.” 

The final a part of that quote is especially essential and is the piece of the puzzle the information is leaving out. To additional emphasize the constructive flip we’re already seeing, specialists say house costs are forecast to understand at a extra regular price over the following 12 months. In the identical report, Hepp places it this manner:

“The common U.S. home-owner now has greater than $274,000 in fairness – up considerably from $182,000 earlier than the pandemic. Additionally, whereas owners in some areas of the nation who purchased a property final spring haven’t any fairness on account of value losses, forecasted house value appreciation over the following 12 months ought to assist many debtors regain a few of that misplaced fairness.”

And although Odeta Kushi, Deputy Chief Economist at First American, references a barely totally different quantity, Kushi additional validates the truth that owners have loads of fairness proper now: 

“Householders in the present day have a median of $302,000 in fairness of their properties.”

Which means when you’ve owned your property for just a few years, you seemingly nonetheless have far more equity than you probably did earlier than the ‘unicorn’ years. And when you’ve owned your property for a 12 months or much less, the forecast for extra typical value appreciation over the following 12 months ought to imply your fairness is already on the way in which again up.

Backside Line

Context is all the pieces when taking a look at headlines. Whereas home-owner fairness dropped some from final 12 months, it’s nonetheless close to all-time highs. Attain out to a trusted actual property professional so you may get the solutions you deserve from an professional who’s there to assist as you intend your move this 12 months.

Continue reading…

Posted in: Blog, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing

Your Needs Matter More Than Today’s Mortgage Rates

Your Needs Matter More Than Today’s Mortgage Rates Simplifying The Market

In the event you’re fascinated about selling your house proper now, chances are high it’s as a result of one thing in your life has modified. And, whereas issues like mortgage rates are a key a part of your resolution on what you’ll purchase subsequent, it’s vital to not lose sight of the rationale you need to make a change within the first place.

It’s true mortgage rates have climbed from the report lows we noticed in recent times, and that has an influence on affordability. With charges the place they’re proper now, some householders are deciding they’ll wait to promote as a result of they don’t need to transfer and have a better mortgage fee on their subsequent house. As Danielle Hale, Chief Economist at Realtor.com, explains:

“. . . householders who locked in a 30-year mounted fee within the 2-3% vary do not essentially need to give that up in trade for a fee within the 6-7% vary.”

However your way of life and your altering wants ought to matter extra. Listed below are a couple of of the commonest causes folks choose to sell at this time. Any certainly one of these could also be extra vital than maintaining your present mortgage fee.

As Ali Wolf, Chief Economist at Zonda, says in a recent tweet:

“First-time and move-up consumers are each lively . . . the latter pushed by life modifications. Divorce, marriage, new increased paid job, and current house unsuitable all referenced.” 

Relocation

A number of the issues that may encourage a transfer to a brand new space embrace altering jobs, a want to be nearer to mates and family members, eager to dwell in a dream location, or simply searching for a change in surroundings. 

For instance, when you dwell in suburbia and simply landed your dream job in NYC, you could be fascinated about promoting your present house and transferring to the town for work. 

Upgrading

Many householders resolve to promote to maneuver into a bigger house. That is particularly frequent when there’s a necessity for extra room to entertain, a house workplace or health club, or further bedrooms to accommodate a rising variety of family members.

For instance, when you’re dwelling in a condominium and resolve it’s time to hunt out a house with more room, or in case your family is rising, it might be time to discover a house that higher suits these wants. 

Downsizing

With inflation driving up on a regular basis bills, householders might also resolve to promote to cut back upkeep and prices. Or, they could promote as a result of somebody’s moved out of the house lately and there’s now more room than wanted. It is also that they’ve lately retired or are prepared for a change.

For instance, you’ve simply kicked off your retirement and also you need to transfer to someplace you’ll be able to benefit from the heat climate and have much less home to keep up. Your new way of life could also be higher suited to a distinct house. 

Change in Relationship Standing

Divorce, separation, or marriage are different frequent causes people promote to purchase completely different properties.

For instance, when you’ve lately separated, it might be tough to nonetheless dwell underneath one roof. Promoting and downsizing could also be higher choices.

Well being Issues

If a home-owner faces mobility challenges or well being points that require particular dwelling preparations or modifications, they may promote their present house to search out one which works higher for them.

For instance, you could be trying to promote your property and use the proceeds to assist pay for a unit in an assisted-living facility. 

With increased mortgage charges, there are some affordability challenges proper now – however your wants and your way of life matter too. As a latest article from Bankrate says: 

“Deciding whether or not it’s the best time to promote your property is a really private resolution. There are quite a few vital questions to think about, each monetary and lifestyle-based, earlier than placing your property in the marketplace. . . . Your future plans and targets must be a major a part of the equation . . .”

Backside Line

In the event you’re able to promote your own home so you can also make a transfer, join with an actual property skilled. That method you will have an knowledgeable in your facet that will help you navigate the method and discover a house that may ship on what you’re searching for. 

Continue reading…

Posted in: Blog, For Buyers, For Sellers, Interest Rates, Move-Up Buyers

Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]

Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC] Simplifying The Market

Some Highlights

  • Evaluating housing market metrics from one 12 months to a different will be difficult in a traditional housing market – and the previous couple of years have been something however regular. In a means, they have been ‘unicorn’ years.
  • Anticipate unsettling housing market headlines this 12 months, principally on account of unfair comparisons with the ‘unicorn’ years.
  • Connect with a neighborhood actual property skilled who can share the data that places these headlines within the correct perspective.

Continue reading…

Posted in: Blog, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Infographics, Pricing

This Real Estate Market Is the Strongest of Our Lifetime

This Real Estate Market Is the Strongest of Our Lifetime Simplifying The Market

If you have a look at the numbers in the present day, the one factor that stands out is the energy of this housing market. We will see this is without doubt one of the most foundationally robust housing markets of our lifetime – if not the strongest housing market of our lifetime. Listed here are two fundamentals that show this level. 

1. The Present Mortgage Fee on Current Mortgages

First, let’s have a look at the present price on present mortgages. In keeping with the Federal Housing Finance Company (FHFA), as of the fourth quarter of final 12 months, over 80% of present mortgages have a price under 5%. That’s vital. And, to take that one step additional, over 50% of mortgages have a price under 4% (see graph under):

Now, there’s quite a lot of discuss within the media a few potential foreclosure disaster or an increase of house owners defaulting on their loans, however think about this. Householders with such good mortgage charges are going to work as exhausting as they’ll to maintain that mortgage and keep of their properties. That’s as a result of they can not exit and purchase one other home, and even hire an residence, and pay what they do in the present day. Their present mortgage cost is extra reasonably priced. Even when they downsize, with in the present day’s larger mortgage charges, it may value extra.

Here is why this provides the housing market such a stable basis in the present day. Having so many householders with such low mortgage charges helps us keep away from a disaster with a flood of foreclosures coming to market like there was again in 2008.

2. The Quantity of Home-owner Fairness

Second, People are sitting on large fairness proper now. In keeping with the Census and ATTOM, roughly two-thirds (round 68%) of house owners have both paid off their mortgage or have at the least 50% fairness (see chart under):

Within the trade, the time period for that is equity wealthy. That is vital as a result of when you assume again to 2008, some individuals needed to make the troublesome choice to stroll away from their properties as a result of they owed extra on the house than it was price.

However this time, issues are completely different as a result of householders have constructed up a lot fairness over the previous few years alone. And, when householders have that a lot fairness, it helps us keep away from one other wave of distressed properties coming onto the market like we noticed through the crash. It additionally creates an especially robust basis for in the present day’s housing market.

Backside Line

We’re in one of the crucial foundationally robust housing markets of our lifetime as a result of householders are going to battle to maintain their present mortgage price and so they have an incredible quantity of fairness. That is but another excuse issues are essentially completely different than in 2008.

Continue reading…

Posted in: Blog, For Buyers, For Sellers, Housing Market Updates

Benefits of Investing in Daytona Beach Condotels

Benefits of Investing in Daytona Beach Condotels

 
Investing in condotels in Daytona Beach offers the potential for consistent rental income. With a rental plan in place, owners can enjoy a steady stream of rental revenue throughout the year. Daytona Beach is a popular vacation destination. The area attracts visitors from all over the world. This ensures a consistent demand for short-term rentals. Using a rental program or listing your units on Airbnb gives you a great passive income stream. Call me today for more information about owning your own condotel in the Daytona Beach Area 386-315-4744

Condotels For Sale Dayton Beach Flordia

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Prime Location and High Demand

Daytona Beach’s prime location is a strong catalyst for successful condotel investment. Located on Florida’s Atlantic coastline, Daytona Beach offers the perfect blend of natural beauty, entertainment, and vibrant beach life. The area boasts stunning beaches, renowned NASCAR events, exciting nightlife, shopping centers, and various recreational activities. This desirable combination makes Daytona Beach a sought-after vacation destination, attracting a steady influx of tourists year-round. The high demand for vacation rentals in Daytona Beach ensures a consistent occupancy rate for condotel units, providing investors with a reliable income stream and maximizing the potential for a favorable return on investment.
 

Potential for Appreciation

Investing in Daytona Beach condotels presents the potential for property appreciation. Daytona Beach’s real estate market has experienced steady growth over the years, driven by factors such as tourism expansion, infrastructure development, and overall market trends. The city’s continuous efforts to enhance its appeal as a vacation destination contributes to the appreciation potential of condotel properties. As the demand for vacation rentals in Daytona Beach continues to rise, property values may increase over time, allowing owners to benefit from capital appreciation. This potential for appreciation adds another layer of financial benefit to investing in condotels in Daytona Beach.
 
In summary, investing in Daytona Beach condotels offers numerous benefits, including steady rental income, hassle-free property management, access to luxurious amenities, a prime location with high demand, and the potential for property appreciation. These advantages make Daytona Beach condotels an attractive and lucrative vacation investment opportunity for individuals seeking both financial returns and a memorable vacation experience.

Posted in: Condos for Sale, Daytona Beach, For Sellers, Ocean view Tagged: condotels, condotels for sale

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
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"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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Contact James Today

James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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