Rate on 30-year fixed mortgage fall to 4.78%

Mortgage Rate Trend Index

Rates won’t change much over the short term, say 77% of the industry experts polled this week by Bankrate.com. Only 8% foresee further drops, while the remaining 15% expect an increase.

NEW YORK – April 29, 2011 – Fixed mortgage rates dipped this week, with the rate on the 30-year loan staying under 5 percent and the 15-year loan falling below 4 percent.

Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.78 percent from 4.80 percent the previous week. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year fixed mortgage slipped to 3.97 percent from 4.02 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991.

Mortgage rates tend to track the yield on the 10-year Treasury note, which fell earlier this week on weak business manufacturing activity in Philadelphia, Dallas and Richmond, said Frank Nothaft, Freddie’s chief economist.

Despite the low rates, housing remains in the doldrums. High unemployment and tight lending standards are preventing people from buying homes. A record number of foreclosures are forcing down home prices, leaving would-be buyers worried that prices haven’t bottomed out yet.

Four homebuilders reported softer sales in the most recent quarter. PulteGroup Inc.’s loss widened in the first three months of the year on a 17-percent drop in home sales. Its net new orders for homes edged up less than a percent. The Ryland Group Inc., M/I Homes Inc. and Meritage Homes Corp. all reported double-digit declines in new home orders, a sign of future demand.

More Americans did sign contracts to buy homes last month, the National Association of Realtors reported Thursday. But the increase wasn’t enough to bring home sales to a level economists consider healthy.

To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a single day.

The average rate on a five-year adjustable-rate mortgage fell to 3.51 percent from 3.61 percent. The five-year adjustable-rate loan hit 3.25 percent last month, the lowest rate on records dating back to January 2005.

The average rate on a one-year adjustable-rate loan fell to 3.15 percent from 3.16 percent. That marked the lowest level for the rate on the 1-year ARM in the last year.

The rates do not include add-on fees, known as points. One point is equal to 1 percent of the total loan amount. The average fee for the 30-year fixed loan and 15-year fixed loan in Freddie Mac’s survey was 0.7 point. The average fee for the five-year ARM and the 1-year ARM was 0.6 point.
Copyright © 2011 The Associated Press, Janna Herron, AP real estate writer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

For information of homes for sale in the Greater Daytona Beach Area of real estate of ocean front homes, river front homes and golf course homes and condominiums go to http://www.beachhomesdaytona.com/

Museum of Arts and Sciences in Daytona Beach, Florida

Daytona Beach, FL – The Museum of Arts and Sciences (MOAS) in Daytona Beach welcomes back the historic Giant Ground Sloth to public viewing. After being kept behind closed doors due to 2009 flooding, the sloth will again be on display as part of the museum’s permanent collection starting Sunday, May 1, 2011.
To mark the occasion, MOAS will waive the admission fee for all visitors on Sunday, May 1. Docents will be on hand to answer any questions. Visitors will have the opportunity to purchase sloth memorabilia and donate to the preservation, moving, and new housing for the Sloth. The first hundred children will receive coloring books and visitors will receive a bookmark (while supplies last) to commemorate the event.
The impressive 13-foot tall skeleton of the Eremotherium laurilardi or giant ground sloth was excavated in 1975, in an important Pleistocene fossil site called the Daytona Bone Bed. Dr. Gordon Edmund, Curator of Vertebrate Paleontology at Canada’s Royal Ontario Museum, identified and reconstructed the giant sloth for MOAS.
Approximately 130,000 years ago, the giant ground sloth lived in the coastal area of Florida and specifically in Volusia County. This huge, hairy mammal weighed between three to five tons and rose to the height of 15-20 feet on its hind legs, was 5 feet wide and about 20 feet long. It was a plant eater (herbivorous) and is believed to have roamed Florida lands in herds searching for food.
The Volusia County giant ground sloth is the best preserved and most complete fossil of this species in North America and has made its home at The Center for Florida History of MOAS for the past 30 years.
For more information of area real estate of homes for sale on the ocean, river front homes or golf course homes for the Greater Daytona Beach Area go to http://www.beachhomesdaytona.com/

Beach cottage for sale - make an offer!

Two bedrooms, one bath cottage near the beach ideal vacation home.
Asking $89,000
To view this listing and many more of area real estate of homes for sale near the beach go to:
http://www.beachhomesdaytona.com/

Beach cottage for sale - make an offer!

Beach cottages for sale - make an offer!

Fla.’s existing home, condo sales up!!!

ORLANDO, Fla. – April 20, 2011 – Florida’s existing home and existing condo sales rose in March, according to the latest housing data released by Florida Realtors®. Existing home sales increased 12 percent last month with a total of 18,522 homes sold statewide compared to 16,540 homes sold in March 2010, according to Florida Realtors. Statewide sales of existing condos last month rose 24 percent compared to the year-ago sales figure.

Seventeen of Florida’s metropolitan statistical areas (MSAs) reported higher existing home and existing condo sales in March; 17 MSAs also had higher condo sales. It’s the fourth consecutive month that Florida Realtors has reported higher year-over-year existing home and existing condo sales statewide.

 

For more information of homes for sale on the ocean, river front or golf course homes for sale

in the Greater Daytona Beach area of homes for sale go to: http://www.beachhomesdaytona.com

Fish stock - New Smyrna Beach, Fl.

FishStock
FishStock is a fantastic event that occurs every year in New Smyrna is certain to generate fun for older and younger alike. There is an opportunity for all to watch the fish being weighed in for both off shore and back country catch. In addition, there is a festival like atmosphere including boats and fishing rods on display. Last year the young attendees were awarded with a fantastic training class and new fishing poles and tackle boxes for their efforts. This is an event to attend.

For more information of area real estate in the Greater Daytona Beach area and surrounding communities go to: http://www.beachhomesdaytona.com/

Florida real estate market shows more activity.

Florida’s existing home, condo sales up in February

Related:

NAR: February existing-home sales decline following sustained gains

ORLANDO, Fla. – March 21, 2011 – Florida’s existing home and existing condo sales rose in February, according to the latest housing data released by Florida Realtors®. Existing home sales increased 13 percent last month with a total of 13,701 homes sold statewide compared to 12,164 homes sold in February 2010, according to Florida Realtors. February’s statewide sales of existing condos rose 29 percent compared to the previous year’s sales figure.
“Current market conditions and very low mortgage rates continue to offer great opportunities to anyone looking to buy a home in Florida,” said 2011 Florida Realtors® President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “Every day, Realtors® help people realize their dreams of home ownership – they see the positive impact that home ownership has on families and communities.”

For more information of homes for sale of area real estate in the Greater Daytona Beach Area, Ormond Beach of ocean front homes, golf course homes and more go to http://www.beachhomesdaytona.com

How to beat out cash buyers in today's market!!!

NEW YORK – April 15, 2011 – Cash buyers are flooding the real estate market in record numbers to take advantage of bargain housing prices. But these buyers may put consumers who need financing at a disadvantage.

Sellers often prefer cash deals because it can mean faster closings and transactions that are less likely to fall through. Some sellers are even accepting lower offers because they are from cash buyers than higher offers from a financing buyer just because they view it as a more solid deal that will be quicker to the closing table.

So how can your financed buyers compete? Experts offer a few tips.

• Get pre-approved or pre-qualified for a mortgage. “The smartest thing they can do is make sure they talk to a competent mortgage banker … to pre-approve them ahead of time.
 Show you’re in good standing. You’ll improve your chances of getting a seller to accept your bid by having more cash that you’re willing to put down, showing you have a stable job and good credit, Litzner says. Also, a well-prepared, typed-out contract that includes a cover page summary of the contract deals is another way to show you’re a serious buyer.

• Offer more earnest money. Offering a high down payment and high deposit can also help improve your chances of beating out a cash bidder.

• Act quickly. “What I found out is with these cash buyers, they act quickly,” Quinn says. “To compete, you have to act quickly. A lot of times, these are investors and they have a relationship with these listing agents.” Buyers’ agents should develop rapport with the listing agents too, Quinn says.

Realize, however, that while some sellers may be highly motivated to accept a cash buyer’s offer, even if it’s lower than others, sellers with more equity in their homes may be less wooed by low ball cash offers, says Donne Knudsen, a mortgage loan originator with Cobalt Financial Corp. in Los Angeles. Instead, sellers who still have equity in their homes likely will be more motivated by the best and highest offer, since closing quickly may not be as critical to them, she says.

Source: “How to Beat a Cash Bidder in the Housing Market,” MarketWatch (April 13, 2011)

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688
For more information of area real estate of homes for sale on golf course, river front, ocean front and condos go to
http//www.beachhomesdaytona.com

Florida Facts!

Sources: Fl. Dept. of State; Visit Florida; US. Census Bureau; Bureau of Economic  Business Research (University of Florida); State of Florida.com

   1,000 People move to Florida each day

12 International Airports

1,200 Miles of Sand Beaches

1,250 Golf Courses

1,800 Miles of Coastline

14 Deepwater Ports

For more information about real estate in Daytona Beach area or Ormond Beach, Port Orange area of vacation homes, condominiums or homes on the beach, river or golf course go to:

http://www.beachhomesdaytona.com/

Buying or selling a home turn offs!

Sellers:  Don’t get overly emotional about receiving a low ball offer; counter at the price you and your agent decide makes sense based on the total circumstances, including your motivation level, recent comps and the interest/activity level your listing is receiving.
 Buyers:  Work through the similar, nearby homes that have recently sold (a/k/a comparables) before you make an offer to factor the home’s fair market value into your offer price – also factor in how much you want the place, too.  Don’t be amazed if you make an offer far below asking, and don’t get a response!

Sellers: avoid being at home while your home is being shown.

 Buyers: save your commentary for your agent; if you do encounter the seller in person keep your conversation respectful and avoid critiquing the house or the list price.

For local real estate information of homes for sale on the ocean, river or golf course homes and condominiums go to http://www.beachhomesdaytona.com

Dogs and condo livin by the beach.

Are you a dog lover maybe you have two?
Now you want to have a vacation home or condo at the beach?
Yes...it's true you can indeeeeed have your adorable loyal companions by your side while you look out at the Atlantic.  From Ormond Beach to Ponce Inlet approximately 27 miles of coast I can find you condominiums that allow pets.
For more information go to http://www.beachhomesdaytona.com or email me directly with your questions.

What will $69,000 buy in real estate today???

One bedroom, one bath TOTALLY REMODELED condo with tile throughout and sold furnished.
Located in a river front condo building with dock for daily use and community pool.
***Only two blocks from the beach***Just bring your clothes.
MLS 516518
For more information go to http://www.beachhomesdaytona.com click on "properties"

River front building with dock!

2 Bdrs/ 2Bas river view condo overlooking the pool in a river front building only two blocks from the beach.
Move in ready only $129,900
Sold furnished
Great vacation condo or live in it yourself.
MLS 512600
For more details go to http://www.beachhomesdaytona.com
Click "properties"

MLS 512591

MLS 512591