Phil Hanner

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Here is a comparison for ENTIRE DAYTONA MLS of March 2011 to the previous 30 days (1/30/11 to 2/28/11) AND compared to March of 2010.

Bottom line compared to LAST YEAR there are fewer new listings, sales are about the same, but properties going "pending" is up almost 20%. Average sales prices are flat. I prefer looking at price per square foot when it comes to pricing. Days on Market is averaging 137.

Here is a comparison for PORT ORANGE ONLY of March 2011 to the previous 30 days (1/30/11 to 2/28/11) AND compared to March of 2010.

Bottom line compared to LAST YEAR there are fewer new listings, sales are UP BY 40%, properties going "pending" is up almost 50%. Average sales prices are flat. I prefer looking at price per square foot when it comes to pricing. Days on market is averaging 145.

Here is a comparison for PONCE INLET/WILBUR by the SEA ONLY for March 2011 to the previous 30 days (1/30/11 to 2/28/11) AND compared to March of 2010.

Bottom line compared to LAST YEAR there are fewer new listings, sales are FLAT, properties going "pending" is up almost 17%. Average sales prices are down 21%. I prefer looking at price per square foot when it comes to pricing. Days on market is averaging 129 and is much shorter than last year.

With the increase of "pending" sales, we will have to look at next month's data to see if they translate into "solds". Some pre-foreclosure sales go pending but do not close. Hopefully this bump will translate into sales.

If anybody wants to see a specific area in MLS I would be happy to provide it next month. The areas are rather large such as "Port Orange S of Dunlawton E of I95". I can search individual subdivisions but it takes more time.

Also - please check out my new website where you can search the MLS like a PRO: www.findahomeinportorange.com

Thanks

Phil

The data for this comes from the Daytona Board of Realtors MLS.

Active single family homes in the MLS - 2500.

Number of single family properties that sold in 2010 - 3000.

If you combine single family, single family attached, condos, townhomes, and condotels - 4500 sold in 2010. That is 12 per day, every day. NOT BAD!

Attention investors that like low end homes - every day for the last 90 days, a home has sold for less than $50,000.

2009 DATA

Median List 147K

Median Sold 135K

Days on market 124

Ask price to sell price ratio 91%

Financing - Cash 48%, CONV 35%, VA/FHA 14%, other 3%

2010 DATA

Median List 130K

Median Sold 123.5K

Days on Market 127

Ask price to sell price ratio 92%

Financing - Cash 56%, CONV 27%, FHA/VA 12%, other 4.4%

Market research is something I enjoy. I don't know exactly why I love crunching numbers. Maybe it is from back in college when I studied data collection and analysis. Maybe it was from my former profession when I studied crime statistics and evaluated job performances of law enforcement officers. Later I was hired by dozens of banks (still am) to advise them on what their bank owned properties are worth.

No matter what the reason, the buyers and sellers I work with have certainly appreciated my ability to predict what homes will sell for and in how much time.

As an aside, my realty has sold 5 properties in the Sanctuary this year - plus I live there with my family.

I just completed market research into The Sanctuary on Spruce Creek in Port Orange, Florida. I looked at all pool homes between 2200 and 2800 living square feet (LSF) that sold in the past 6 months from today's date. There were 5 sales in this time period. I then took the average price per square foot for these 5 properties, and came up with an average of $118 per square foot.

Then I looked at the same type of homes for the same time period in 2009. There were only 3 sales. The average came out to $112 per square foot. This is an increase of 5%.

I am hesitant to say that the drop in values has stopped permanently based on 5 sales. However, considering the horrible economy and rampant unemployment, I would say that not having a further drop is great news. In my opinion, during March and early April of 2010, homes in the Sanctuary on Spruce Creek lost 10% of their value in about 30 days.

Here are the sales from the past 6 months:

6141 Sanctuary Gardens Blvd 2470 LSF Sale Price 272500

6145 Sanctuary Gardens Blvd 2534 LSF Sale Price 296000

1314 Crepe Myrtle 2492 LSF Sale Price 280000

6105 Sanctuary Garden Blvd 2542 LSF Sale Price 320000

6037 Sanctuary Garden Blvd 2547 Sale Price 315000

Phil Hanner

Experienced Short Sales Agent

Accredited REO Agent^TM

www.philhanner.com

www.daytonabeachreo.com

Keller Williams Realty Florida Partners

3510 S. Nova Road, Suite 112

Port Orange, FL 32129

Licensed Realtor

Cell: 386-214-7745

Fax: 386-944-2808

email: phanner@cfl.rr.com

"Wait long. Strike fast."

Member South Daytona/Port Orange Chamber of Commerce

Member Central Florida Realty Investors

A short sale client of mine in Port Orange, Florida has been hearing and reading the headlines about major lenders halting their foreclosures. Well, two of them GMAC and Bank of America have started the process back up again. GMAC took a respite that started 2 months ago. BofA is estimating only a few more weeks until they are up and running.

The issue was that some of the legal documents had not been processed properly and claims had not been verified. Some claim this is a "fraud against the court" and may invalidate huge numbers of foreclosures. Maybe so. But this will likely not effect anyone who is in foreclosure right now. Yes, the attorneys general of many states, if not all, are calling for some sort of action that may slow things. But rest assured, doing nothing is a foolish choice.

Whatever problems exist with the foreclosure processes will be fixed. If you delay action now, there will likely be a larger judgment against you due to increased holding costs, missed payments, and a further depreciated asset.

I advised this customer that to wait and see what happens is not the right thing to do or the wise thing to do. Yes, it is great living rent free but there is always a price to pay in the end.

The government corruption and greed that got us here will take a long time to overcome. But delaying the process of getting all of these properties sold will only lengthen the effects and further harm our gravely injured economy. Everyone involved in real estate - lenders, owners, PMI, investors, and Realtors need to move forward as quickly as possible. The courts need to be more careful as well as the attorneys - but getting the feds involved is how this started, and we do not need heavy involvement again.