Great Port Orange Homes For Sale 6-25

PORT ORANGE HOMES FOR SALE

When I talk with clients about Daytona Beach area homes and I bring up Port Orange, many of my customers have never heard of it or know nothing about Port Orange. Port Orange is situated just to the south of Daytona Beach, Daytona Beach Shores, and South Daytona Beach. With easy beach access, lots of great places to eat, and plenty to do, you’re going to love this town.  Check out these affordable Port Orange homes for sale.  Give me a call today for more information about real estate in Port Orange and the Greater Daytona Beach area 386-315-4744

 

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This home is a 4 bedroom, 2 bathroom home in the community of Sunset Cove. $299,900
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Meticulously maintained 4 bedroom, 2 bathroom home in the quiet Sunset Cove neighborhood. Great open floor plan with cathedral ceilings for a bright and airy feeling. Beautiful hand scraped hardwood floors adorn the spacious living areas. Large eat-in kitchen with beautiful pendant lighting and full appliance package. The master ensuite has double vanity, garden tub and walk-in shower. Sliding glass doors lead from the living room to the stunning outdoor oasis. Entertain and Lounge in style!! Screened, solar heated salt water pool with new salt water system, sun shelf, deck jets and huge covered area creating an entire outdoor living space. The privacy fence enclosing the backyard has solar powered photo sensor lights for ambiance and security.…

 

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This home is a 3 bedroom, 2 bathroom home in the community of Riverwood Plantation. $250,000
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Situated along a peaceful and private alcove of the highly desired Riverwood Plantation, this charming family home is nestled on a spacious lot with a large yard, mature Florida foliage, and the perfect tree for a backyard swing. The split floor plan is ideal for new and growing families, with tile and wood flooring running through the living areas and carpeting found in each bedroom. The open kitchen invites entertaining as it overlooks the living room and features new GE stainless steel appliances, including a double oven and french door refrigerator. Enjoy your meals from the dining room, breakfast bar, or cozy nook with bay windows. The master bedroom is oversized and provides a custom California Closets walk-in. There is an indoor laundry room with extra storage, a private outdoor…

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Should We Be Looking at Unemployment Numbers Differently?

The New York Times recently ran an article regarding unemployment titled: Don’t Cheer Too Soon. Keep an Eye on the Core Jobless Rate. The piece suggests we should look at unemployment numbers somewhat differently. The author of the article, Jed Kolko, is a well-respected economist who is currently the Chief Economist at Indeed, the world’s largest online jobs site. Previously, he was Chief Economist and VP of Analytics at Trulia, the online real estate site.
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What Are the Experts Saying About Future Home Prices?

A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult.

Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that item in ratio to the demand for that item. In housing right now, demand far exceeds supply. Mortgage applications to buy a home just rose to the highest level in 11 years while inventory of homes for sale is at (or near) an all-time low. That would usually indicate strong appreciation for home values as we move throughout the year.

Some experts, however, are not convinced the current rush of purchasers is sustainable. Ralph McLaughlin, Chief Economist at Haus, explained in their June 2020 Hausing Market Forecast why there is concern:

“The upswing that we’ll see this summer is a result of pent-up demand from homebuyers and supply-in-progress from homebuilders that has simply been pushed off a few months. However, after this pent-up demand goes away, the true economic scarring due to the pandemic will begin to affect the housing market as the tide of pent-up demand goes out.”

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Homebuyers Are in the Mood to Buy Today

According to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they’re projected to remain low. This means there’s a huge incentive for buyers who are ready to purchase. And homeowners looking for eager buyers can take advantage of this opportune time to sell as well.

There’s a very positive outlook on interest rates going forward, as the projections from the FreddieMac report indicate continued lows into 2021:

“Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.”

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Want to Make a Move? Homeowner Equity is Growing Year-Over-Year

One of the bright spots of the 2020 real estate market is the growth in equity homeowners are experiencing across the country. According to the recently released Homeowner Equity Insights Report from CoreLogic, in nearly every state there was a year-over-year first-quarter equity increase, averaging out to a 6.5% overall gain.

The report notes:

“CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $590 billion since the first quarter of 2019, an increase of 6.5%, year over year.” (See map below):

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Is the Economic Recovery Already Underway?

The Wall Street Journal just released their latest monthly Survey of Economists. In an article on the findings, they reported:

“The U.S. economy will be in recovery by the third quarter of this year, economists said in a survey that also concluded the labor market will fare better than previously expected following the effects of the coronavirus pandemic.”

Clearly, the latest jobs report from the U.S. Bureau of Labor Statistics confirmed the labor market is outperforming expectations, as it revealed that 2.5 million jobs were added. Directly before the release, experts forecasted that we would lose over 8 million jobs.

A second revelation indicating the economy is already about to turn around was also somewhat unexpected. More than 9 out of 10 economists surveyed believe the recovery has already begun this quarter or will begin in the third quarter. Here are the results of the survey question asking when the recovery will begin:The survey also asked what type of recovery the economists expect.

More than 8 out of 10 believe it will be a form of a ‘V’ recovery:

  • A true ‘V’ with a sharp drop and a sharp rebound
  • A ‘Nike Swoosh’ with a sharp drop and a more gradual recovery, coined after the company’s logo

Some experts, possibly concerned about a second wave of COVID-19, call for a ‘W’ recovery – a double dip recession.

Others call for a ‘U’ with a prolonged bottom.

A very small percentage project the dreaded ‘L’ recovery, which is no recovery at all for the foreseeable future (think of the Great Recession).

Here’s the breakdown:

Bottom Line

Though we still have a long and difficult journey ahead, it appears the worst for both the economy and the unemployment situation may be in our rearview mirror.

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12 Riverfront Homes For Sale In Florida

Riverfront Homes For Sale In Greater Daytona Beach Area Florida

 

Are you looking for a riverfront home in the Greater Daytona Beach Area? Have you been hunting for the perfect Florida riverfront home with a dock to keep your boat? Check out these 12 homes listed below. If you would like to get more information or schedule a showing please give James Jestes a call 386-315-4744

 

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This home is a 5 bedroom, 7.5 bathroom home in the community of Daytona Beach. $2,890,000
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The area’s most admired waterfront estate is being offered for the first time in decades. The nearly 7000 sq. ft. home plus guest home and outbuildings are situated beneath ancient oaks atop a bluff on a private 2.7 acres of rolling terrain with an unheard of 248′ of Intracoastal frontage. Designed and constructed in 1953 by Dr. Harris of The Harris Corp as the company ascended on the area to start the space program, the home’s building methods were the absolute best available without regard to expense and the incredible integrity and craftsmanship are immediately evident as you enter the home today. While the home was designed to entertain a large crowd it retains a rich, warm atmosphere among the gracious living spaces that make up the nearly 4000 sq ft of ground floor living. Continued..…

 

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This home is a 2 bedroom, 2 bathroom home in the community of Halifax. $674,500
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INTERCOSTAL WATERFRONT!! Directly on the Halifax River with a 200ft dock perfect for fishing. Large outdoor area and small beach are great for entertaining or just relaxing and taking in the beautiful views. Home has been well maintained and has a Riverview from almost every room. There is also a large kitchen with a breakfast nook and a spacious living room with a formal dining area, spacious bedrooms, and a family room with absolutely stunning views, a Fireplace, and hardwood floors. This home is a must-see!! New roof, new 200ft dock!!…

 

Are you looking for a home in the Greater Daytona Beach Area? Contact James Jestes Today!
386-315-4744

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Real Estate Tops Best Investment Poll for 7th Year Running

Every year, Gallup conducts a survey of Americans to determine their choice for the best long-term investment. Respondents are asked to select real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds.

For the seventh year in a row, real estate has come out on top as the best long-term investment. Gallup explained:

“Real estate remains the most favored investment to Americans, as has been the case since 2013, when the housing market was on the rebound. More than a third of Americans have named real estate as the top investment since 2016.”

This year’s results indicated 35% of Americans chose real estate, followed by stocks at 21%. The full results covering the last decade are shown in the chart below:

Bottom Line

The belief of the American people in the stability of housing as a long-term investment remains strong, even through the many challenges our economy faces today.

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