Daytona Beach Real Estate Blog: February 2009

More mortgage information from another trusted source, right here on Active Rain. Jeff Belonger makes it his business to be an expert on all things related to FHA loans. This particular post is packed full of useful information. Real estate buyers, you'll find this especially helpful. And real estate sellers, you'll find this encouraging. In light of all the negativity we hear about mortgages, this is encouraging news.

To visit my web site, go to www.DaytonaBeachRealEstateSales.com

Now for Jeff's FHA information...

I'm just helping to spread the word about the LAWS regarding real estate short sales. Once again, Lenn has uncovered the facts on what banks can and cannot do. This is good news for everyone. It should help REALTORS continue to do a good job for their clients, and it should help real estate sellers to get their homes sold faster, once the word gets out about this.

Here are the facts. Courtesy of Lenn Harley.

Over a year ago, I blogged about The Daytona Cubs, and Jackie Robinson Ball Park. And I decided it's time to remind Daytona Beach residents, visitors, and potential real estate buyers about this inexpensive way to spend an evening with family and friends, and about the fascinating history involved.

Did you know that Daytona Beach's Jackie Robinson Ball Park was originally built in 1940? Did you also know that it was at this very park where Jackie Robinson broke the color barrier in baseball, when he played in the first ever, racially integrated spring-training game? At the time he was a member of the Montreal Royales, in the International League. That was in March of 1946. The next year, in 1947, Jackie was promoted to the Brooklyn Dodgers.

My original post contained information about Heritage Day, and how to attend a free baseball game. Unfortunately, that post was for events at that time. The good news is, there are frequently other special events. You can view all upgoing promotional events on the promotions calendar. To read my original post, follow this link >> Daytona Beach's Jackie Robinson Ball Park and The Daytona Cubs.

If you're interested in buying or selling real estate in the Daytona Beach area, make a Smart Choice and contact Lisa Hill with Adams Cameron & Co., REALTORS®, or visit www.DaytonaBeachRealEstateSales.com.

Daytona Beach Shores real estate buyers  and residents who are looking for fun things to do in this beautiful city, read the blog below. Now this is fun! Before I get started, let me say that I'm a REALTOR® with Adams Cameron & Co., REALTORS®. We have 8 offices in Volusia County. So if you want to buy a house or condo in Daytona Beach Shores, call or e-mail Lisa Hill. Now let's focus on the fun stuff!

Arrr Mateys. Thar's fun to be had herrre!

For any home owner who has lived in an area for a while, there's a good chance that there are things for you, your family and your friends to do, but you've just forgotten what's there. There are probably even more things to do than you realize. It's just easy to forget about these things.

This weekend, I decided to drive around Daytona Beach Shores, checking out some of the houses for sale, taking pictures of things that caught my eye, and having a relaxing afternoon. Then I drove by Pirate's Island Adventure Golf! Now how much fun is that? I've played miniature golf there before, but I had totally forgotten about it. I've shown condos all around it, and drive by it on a regular basis... so many times that I got to the point where I didn't even "see" it anymore.

Now for those of you who read my many Daytona Beach real estate blogs, you may be wondering what the difference is between Daytona Beach and Daytona Beach Shores. Well I'll be happy to tell you. Daytona Beach Shores is located only on the beachside/peninsula, between Daytona Beach and Wilbur by the Sea. The closest bridge to Daytona Beach Shores is the Dunlawton Bridge, coming from Port Orange. But you'll have to bring yourself to drive past Our Deck Down Under, located under the Dunlawton Bridge! Or better yet, go ahead and enjoy a delicious, casual meal there, preferably at an outdoor table, overlooking the Intracoastal Waterway, then drive just a few blocks to Pirate's Island Adventure Golf in Daytona Beach Shores. (There's another Pirate's Island Adventure Golf in Ormond Beach as well).

With most people pinching pennies right now, it's good to know where you can find an affordable way to spend some fun time with your friends and family. Miniature golf is one of those ways! And Pirate's Island Adventure Golf is open 7 days a week, from 10:00 a.m. to 10:00 p.m. And now, for your viewing pleasure, enjoy the photos I took, of Pirate's Island Adventure Golf. And stay tuned for another enjoyable gem I found in Daytona Beach Shores! =) And for those of you who are interested in buying or selling real estate in Daytona Beach Shores, <contact Lisa Hill with Adams Cameron & Co., REALTORS®, for all your real estate needs.

As a REALTOR®, it's easy to forget that the public doesn't always know how we get paid and/or how the real estate business works. They don't see what happens behind the curtain. So I'm pulling back the curtain. I believe the consumer might enjoy learning about the hidden part of the real estate transaction, and at times, just how much can be hanging by a thread. Hopefully, you'll enjoy learning about the process behind the process. To keep this as simple as possible, I'll start by stating that REALTORS® are not employees. We're Independent Contractors. We don't get a W-2, with our taxes partially paid by an employer. We get a 1099 and are responsible for ALL of our own taxes and expenses. Think of every REALTOR® as an individual small business owner. Therefore, we have to itemize our taxes, and write off whatever is eligible for claim as a business expense. But those small tax breaks don't add up to much when each and every expense is our own to pay! Now for some specifics... REALTORS® work strictly on a commission basis. We do not get paid until we actually close on a property. And out of each commission, we have to pay for...

• All gas and vehicle mileage incurred by that transaction
• Any "extras" we may have donated to help facilitate the transaction
• The cost of postcards or paper, ink, envelopes, and postage that was needed to promote a listing, or send notification of a sale
• Paper, ink, color copier, (or we can pay someone else for this service) and yard boxes for flyers, if we've provided this service for a real estate seller
• Costs of all advertising for the duration of a listing, which in our current market, could take 2 years. (That's how much inventory we have in our MLS)
• Lockbox, if the brokerage doesn't pay for it, or a different kind of lockbox, as is sometimes needed
• Name riders or personalized signs, if for a listing
• MANY hours of our time

In addition to the costs incurred for an individual sale, there are the things that are needed just to keep our business running smoothly and professionally (some of these are only what I personally consider necessary)...

• REALTORS'® Personal Web Site
• Multiple Blogs
• Errors and Omissions Insurance
• Computers: Desktop and Laptop
• Portable Hard Drive/Memory Stick/Jump Drive
• Cell/Smart Phone with Contact Manager, plenty of minutes, text messaging, and internet capability, so we can provide full-service for our clients
• High Speed Internet Connection
• Additional Phone Lines for fax or DSL
• Cable Modem if DSL is not used
• High Quality Camera for taking quality listing photos, or to take extra photos for buyers and insurance companies
• Video Camera for filming listings
• Photo Editing Software
• Video Editing Software
• Word Processing Software
  
• Contact Management Software
  
• Power Point Software for miscellaneous presentations
• Personal Printer/Scanner/Copier/Fax
• Personal Brochure, Business Cards, and other miscellaneous handouts
• Extra Vehicle Insurance, since we use our vehicles for business
• More Gas and Vehicle usage, as we travel to each appointment, even if we don't get the business!
• Personalized Open House signs
• Office Supplies
• (We have to replace these items on our own, as they break or become outdated)
• And let's not forget, a true real estate professional is going to be knowledgeable of any recent changes in real estate laws, and is proficient in the Social Networking of Web 2.0

In addition to all this, REALTORS® pay to be members of their local REALTOR® Association, and for access to the Multiple Listing Service (MLS). Then they have to pay for ALL their own taxes, which are higher due to non-employee status. We also pay for our own health insurance and medical costs. And there are always additional marketing materials that are needed, to keep new business coming in. Let's also not forget that with everything I've listed, there are many, many, many hours of work that is done... all without knowing if the work we're currently doing is going to lead to an eventual sale. And some clients may take years before they buy. I recently sold a house to someone I've been working with for 3 years. In order to bring these types of clients to a successful closing, we have to maintain contact with them, and meet their needs for the entire time, until they buy.

With all that being said, I'll finish this post by stating what I thought would be obvious, but apparently is not. And I'll preface this by saying, the next section is not meant to be rude or offensive. It's just the reality of the situation. So here it is... When a REALTOR® works with a real estate buyer, the REALTOR® expects that buyer to be loyal, and not call other real estate agents. Many times, a buyer can unintentionally, with one phone call, or by stopping by one open house, land in the cross-hairs of another agent who is not ethical enough to ask if that buyer is working with another REALTOR®, and end up negating all of the costs, and hours, and dedication they've been given by the REALTOR® who has been working diligently to help them find that perfect home. Actually, when this happens, their former REALTOR® ends up with less than zero... it's worse than ending up with nothing. It's a deficit of the worst kind. That loss of time, income, and expenses paid, not only amounts to bad business, it also means that all this was taken away from our families who depend on us. It's a loss of our time and expenses that could have been better spent on a client who is loyal. This is why many REALTORS® will require a real estate buyer to sign a buyer/broker real estate agreement.

To elaborate just a bit more, if a real estate buyer is going to call other agents, that buyer's agent is not going to be able to do their best work. If we (REALTORS'®) know our real estate buyer(s) are working only with us to find their next property, we'll go out of our way to find the perfect property; we'll set aside extra time for that buyer; we'll always have the needs of that particular buyer in the back of our minds, even when we're on a non-related appointment. Also, with the Multiple Listing System (MLS), all REALTORS® have access to each others' listings. The agent who is working for a loyal real estate buyer, can setup a customized MLS search for that buyer, and keep them apprised of new listings as they come on the market. It's about going the extra mile for that loyal buyer, and doing what is necessary to meet their needs. It's a win/win relationship.

One last note: With all this information, I didn't even touch on all the details of the individual real estate transactions. I guess that will be a future post.

If you'd like to buy or sell real estate in the Daytona Beach, Port Orange, Ormond Beach and encompassing areas, make a Smart Choice and contact Lisa Hill with Adams Cameron & Co., REALTORS® for all your real estate needs.

As a REALTOR®, I frequently have the unpleasant job of having to provide information to real estate buyers and/or sellers that is not what they want to hear. It seems that lately I've had this happen more than usual. Now I admit, I work primarily with real estate sellers. And of course I work with the buyers for my listings. I find these buyers through my marketing plan. But I don't generally work as a buyer's agent. Although, Florida law now instructs all real estate buyers and sellers to automatically assume that the agent they contact is operating as a Transaction Broker, unless the agent indicates otherwise. So Florida law allows for real estate agents to transition between real estate buyers and sellers with ease.

In the last couple of weeks, I've had a couple of listing appointments for houses owned by potential real estate sellers who want way too much money for their houses... in other words, listings I don't want in my inventory. I've turned down these listings.

Before I continue, I feel this must be said...

• When a real estate professional does a CMA (Current Market Analysis), it's strictly professional. It's why REALTORS® serve a purpose. We're not emotional about the transaction, whereas buyers and sellers are usually pretty emotional about their "home". I bring this up because of a comment that was recently made on one of my listing appointments. After being presented with the facts (recent sales data), the home owners said "We're getting screwed". (Yes, one actually said that.)  You can't be getting "screwed" (so eloquent) when it's just the current market value. You're being given facts... data... numbers. How can you take that personally? And real estate is cyclical. It always has been, and always will be. We have no control over the current market value. A REALTORS'® job is to facilitate the transaction by keeping it strictly business, and lessening the emotions. It's the only way to get the best "deal" for both parties. This brings me to my next point.
  
• How is it that home owner(s) can reject the factual evidence of value, and start naming everything they've done to the house since the day they bought it... as if the other recent sales didn't have the same, or similar maintenance over the years. But let's proceed with addressing the way to properly price real estate in todays' buyers' market.

The way I prepare for a listing appointment

It's impossible to provide an accurate market analysis for a house, condo, or townhouse without actually seeing the property with my own eyes. But I can get the basic data prepared by looking at what's currently on the market (most are priced too high), and checking what has recently sold (sales are the accurate depiction of the true market value for a particular property).

Once I've done my research (which usually takes a couple of hours, during which time I don't know if I'll even want the listing yet), I then meet with the potential sellers. Upon meeting the sellers, I first have them give me a full tour of the potential listing, and tell me about any upgrades they've made. When the tour is completed and I've documented all the details, I then present the home owner(s) with the recent sales that are comparable to their property, and are located either within the same subdivision, or within a 2 mile radius (keeping the process as similar as possible to the way an appraiser would work). Last but not least, we fine tune the additions and subtractions, based on the condition, location, and amenities of the subject property in relation to the comparable sales and the upgrades, or lack thereof. (Asking prices of active listings are mostly irrelevant, except to be sure the new listing is properly priced.)

But after all that, we're still not finished. Properly pricing a property for sale requires more than just facts and figures. It even requires more than comparing the subject property (potential listing) to the recently sold listings. And it even goes beyond the condition of the property. There are actually several more conditions to consider. But for the purposes of this blog post, we'll only address one more step, which is; determining the sellers' motivation level. If the seller(s) need to move fast, then obviously, they'll want to price their house/condo/townhouse below the competition so it will sell as quickly as possible. If the sellers are not in a big hurry, the listing still needs to be priced competitively (since we're still in a buyers' market), but it doesn't need to be at a rock bottom price (other special factors not withstanding).  *Side note: Viewing the property, determining need, considering location, observing the condition, discussing all options, etc., takes another couple of hours during which time I/we still haven't decided if I'm going to list the property.

To go back to my recent listing appointment, I provided them with a range for what they could expect as their sale price. But these sellers wanted to net about $75,000 more than the market value of their home. It was a listing I could not sell, so I wasn't willing to list it. There were no comps to show a higher value, and even with a complete overhaul, the property would not be worth anything close to what the home owners wanted to net. That particular neighborhood just will not draw a price that high. If a potential buyer could pay what these sellers wanted, the buyer could find a nicer house, AND a nicer neighborhood. It's not an insult to this house or neighborhood. These are just the facts... the numbers... the data. Remember? Your REALTOR® is there to provide you with this information, and facilitate the transaction by lessening the emotion. This helps both parties get a better "deal" by keeping communication open.

Lastly, this is something all real estate sellers need to know. In the last couple of years, about 99% of all buyers I've worked with, have only been interested in getting the best house for the cheapest price. Nobody can afford to overpay. And the banks won't finance a property that THEY feel is over-valued. And until the market has completely stabilized, this will continue to be a legitimate concern for the banks and the real estate buyers. This is why over the last couple of years, when I have been able to get my buyers to take a look at an average priced property, they wouldn't even consider making an offer unless the seller(s) were willing to drastically reduce their asking price. Real estate buyers have not been willing to settle for anything less... or should I say, they won't settle for anything more?

So I'll finish this post the way I titled it. If you want to sell your house, price it right! When a professional REALTOR® presents you with factual data that indicates a lower value for your property, it's not personal. As a REALTOR®, I only get paid when I actually close on a transaction. I really want to sell your house. And it's my job to know the real estate climate, and to be honest with my potential clients. To do otherwise would not only be a disservice to you, it's also a violation of the REALTOR® Code of Ethics. So if you want to sell your house, make sure you work with a REALTOR® you can trust, and try not to take the data personally. They're probably doing their best to give you accurate information.

I just sold one of my listings. So if you need a REALTOR® with the knowledge and resources to sell your house, condo, townhouse, or vacant land, and would like a free market analysis, make a Smart Choice and contact Lisa Hill with Adams Cameron & Co., REALTORS®.

View Daytona Beach area MLS listings here.

It's that time again. It's Race Week at the Daytona International Speedway. And if history continues to repeat itself, many of our race fans will be looking at real estate while they're here. While it's unlikely that our guests are ready to buy a house, vacation home, or seasonal residence right now, they typically like to get an idea of how much house or condo they can afford, and what types of properties are available in the Daytona Beach area. And in the near future they'll be ready to buy.

So this post is for Daytona Beach race fans everywhere. First of all, did you know that 2008 was the 50th anniversary of the Daytona 500? Bearing that in mind, you can read this post about the winners of the last 50 years of the Daytona 500.

Even if you didn't make it to Daytona this week, this post includes links to the history of NASCAR and the Daytona 500, Daytona International Speedway, and even the beginning of Daytona Beach racing. And for the convenience of finding all your info in one place, I've included local real estate information as well.

Follow these links for Volusia County real estate data and updates...

• Daytona Beach Real Estate in Golf Communities

• Volusia County Real Estate Listings vs Sales Review for 2008

• Real Estate Sales and Market Report and Chart for Volusia County FL, 2000-2008

If you're here for the races this week, I hope you have a blast tomorrow at the Daytona 500! And if you're interested in buying real estate in the Daytona Beach area, I'd love to help. For updated real estate information, visit my web site at www.DaytonaBeachRealEstateSales.com. And for all your real estate needs, make a Smart Choice and contact Lisa C. Hill with Adams Cameron & Co., REALTORS®.

For everyone who has been waiting to purchase real estate, while pinning your hopes on the empty promises our government has been making, it's time to get off the fence. Yes, there are other bailouts in addition to the one that's addressed in this post, but if this is the indicator of how the others will be handled, they'll either reach the same pathetic conclusion... or they'll be dropped altogether.

Follow this link for a short update on the Congressional Stimulous Bill and the original bill regarding the Tax Credits for Home Buyers program. Information provided by Lenn Harley.

For further information, here are the corporations that have received bailout money.

Real estate buyers, I'm sorry to be the bearer of bad news, but our government does not have a track record for helping those who really need help. As you can see from the "bailout" link, true to usual form, they've helped the big corporations. (Information via USA Today)

If you're ready to buy real estate, I have some great real estate listings for sale. And if you're a real estate seller, I'd love to help you sell your house or condo. I have multiple blogs and web sites, which draw the buyers for my real estate listings. Make a Smart Choice today and contact Lisa Hill for all your real estate needs.

This was not my planned blog post for the day, but I made the mistake of taking a peek at the Halifax Humane Society web site. I have to admit that I'm a sucker for cuddly little critters. While most people prefer cats and dogs... OK so I have two cats as well... I just love adorable little furry friends. In addition to my 2 cats, I also have a guinea pig. Her name is Pipsqueak. Isn't she adorable?She's so snuggly!

So while I had planned to write a real estate post tonight, as soon as I saw "Beanstalk" on the front page of Daytona Beach's Halifax Humane Society's web site, I had to share! I sware, tomorrow I'm going to call and ask if Beanstalk is still there. I'm already in love with that little furball.

*Next day addition: The front page of the Humane Society's web site is changed frequently. When I checked back today, my little Beanstalk was already gone =( But now there are some adorable bunnies! =D

Now for those of you who prefer a boring (just joking) traditional pet, just look at all these beautiful cats ... I think Daisy's my favorite, but Malcolm has some serious cattitude!

And then there are the dogs. This is almost heartbreaking. There are so many dogs available, they separated them into 3 categories. First we have the "Easy Maintenance, Companion" Dogs. There were only a few in this category. Then there are the "Busy Bee" Dogs, who are defined as 'naturally playful, curious and trusting'". These dogs looked like lots of fun! The last dog category is the "Super Hero", "Free Spirit", "Go Getter" doggie category. Yep. All those descriptive words for these speedesters! I expected to find a lot of dogs in this category, since it seemed like they'd be the most work to care for, but apparently they must be pretty popular because the page was empty.

If you're not looking for a pet, you can still make a donation through the web site.

If you're a resident of the Daytona Beach area and you've never visited the Halifax Humane Society, I suggest you spend some time visiting with the many potential pets there. Even if you have no intention of adopting, it's a free, fun, and relaxing way to spend some time, and I'm sure the animals appreciate it too.

And if you're considering a move to Daytona Beach or the surrounding areas, I'd love to help. Make a Smart Choice and contact Lisa Hill for all your real estate needs.

View Daytona Beach area MLS listings here.

For those of you who are interested in the climate of the real estate market in the Daytona Beach area, you'll be interested in the following information. The chart below shows the real estate market as it climbed to it's peak, and began it's descent in Volusia County. It covers Daytona Beach, Port Orange, Ormond Beach, and all the real estate data from the Daytona Beach Area Association of REALTORS® and Multiple Listing Service (MLS).

In 2008, The National Association of REALTORS® instituted a marketing campaign stating that "Now is the time to buy real estate". You can look through every one of my blog posts and you'll never find this statement made by me. Because I did not believe that in 2008, the real estate market had finished correctng itself. So my only statements regarding real estate were of an encouraging nature, since so many people were discouraged and/or in despair. But my opinion has now officially changed. I do believe that for the Daytona Beach area, NOW IS THE TIME TO BUY REAL ESTATE! And I have the data to back up this statement. Just look at the following chart. Our sales are no longer dropping in quantum leaps. As a matter of fact, if there are any signs of further market corrections, it's limited to specific cities or neighborhoods. From 2007 to 2008, there was only a slight drop in the real estate sales for Volusia County, and some cities stayed at an even pace. It is for this reason that I believe the Volusia County real estate market has finished it's correction period.

Until recently, Real estate buyers have been afraid to buy, for the most part because the media has made it their business to scare everyone. But they're not the ones who are in the field. They're not the ones who are talking to real estate sellers and buyers every day. They're not the ones who are listening to the concerns of these buyers and sellers. REALTORS® are! And this REALTOR® is now saying "Now is the time to buy real estate". But you can make your own decisions. Study the chart below, and decide for yourself if now is the time for you to buy real estate. Then, for all your real estate needs, make a Smart Choice and contact Lisa Hill with Adams Cameron & Co. REALTORS®.

Follow this link for extensive real estate information for Daytona Beach, Port Orange, Ormond Beach, and all of the greater Daytona Beach area.

View real estate MLS listings in full video tours

I've been meaning to share this video about money, loans, mortgages, banking, and the entire system with you all, for a few weeks now. To be honest, the first time I watched it, some parts blew my mind. This video completely, and interestingly, explains just why our country is in the situations it's in. Our banking and lending systems are the most backwards systems I've ever seen! Here's a quote from the video. "All debts paid off, leaves society with no money." Yep. It's true. The following sentence in the video is "We are totally dependent on continually renewed bank credit for there to be any money in existence." So, do you know why? Because banks just create money out of thin air!

I assume we all know that loans are made against deposits made by the general public. And most people probably already know that the banks lend more money than they have on deposit. But the full truth is even more far removed than that. It's so backwards that I'm just going to let the video explain it all.

I really hope you'll ALL take time to watch the video. Even if you can't watch the whole thing, if you can even watch a portion of it, I'll bet you'll learn so much that you'll be kicking yourself for what you've previously believed. Even the experts are either intentionally misleading us, or they're just as clueless as everyone else. Before you watch the video, you should ask yourself, "Where does money come from"? (Pardon the improper grammar) Really think about it. Where do you think money comes from? If you think you know, proceed to watching the video. If you don't have a clue, you're about to have a rude awakening. I think that many of us have certain expectations from our government, and the systems it endorses. (And we've been repeatedly let down.) I personally have come to almost despise our government, and large corporations, so although this video shocked me, it also cemented my opinions on many levels.

PLEASE watch this video! If you don't have time to watch it now, I suggest you bookmark this blog for a later date, when you do have time to watch it. Or, bookmark the video itself, in your internet browser so you can go straight to the video.

Also, since the video and the Wikipedia link I provided below, explain the way banking and lending used to work (did you know it was insurance companies who made the first mortgage loans?), then compares it all with today's lending system, I got curious and looked up the Wikipedia definition of the old Savings and Loan Institutions, and then the FDIC. What I found was far more elaborate than simple definitions. So if you're still curious, or if you've now stepped through the portal that causes you to go on a witch hunt (like I have), you'll probably want to investigate the links I've included. And with that, I'll let you now just watch the video... "Money as Debt".

If you're interested in buying or selling real estate in the Daytona Beach area, make a Smart Choice and contact Lisa Hill with Adams Cameron & Co., REALTORS. And if you need mortgage information, Lisa will also be happy to provide you with a list of local mortgage lenders and brokers, or recommendations of mortgage lenders and brokers right here on the Active Rain real estate network.