Sherry Armstrong Daytona Beach FL real estate

Indigo Lakes Golf & Country Club is the center of the Indigo Lakes community, located about 1.5 miles from the Daytona Speedway and 15 minutes from the intracoastal waterway. Homes for every price range and taste can be found here, on large lots built around the golf course, next to the preserve areas that create more open space, or on spring-fed Lake Timaku for a waterfront view. Compared to some of the newer areas of Daytona Beach, Indigo Lakes is more modestly priced.

Most homes were built in the late 1980's, are single story, 3 bedrooms/2 baths, and have screened porches. The styles include condos, zero lot line attached and detached, golf-course view and golf-course frontage homes with pools. The homeowners association maintains a community pool and tennis courts, and the fees include common areas, exterior painting, basic cable, and yard maintenance. HOA fees vary from the mid-$300's to $540 quarterly, for waterfront lots.

Prices range from single family attached homes at $175,000 to $210,000, to single family detached at $175,000 to $600,000. Square foot values from $97 to $196 for about 1500 sq ft up to 2900 sq ft.

The Indigo Lakes course is 18-holes, par 72, open to the public, and was called "one of the top 10 golf courses in Florida" by Golfweek Magazine.

Here's a new listing in Indigo Lakes. 3 bedrooms/3 baths, 1800 SF interior, on the 7th tee of the Indigo Lakes golf course in a cul-de-sac, listed for only $219,900!

Features include screened porch, cathedral ceilings, storm shutters, appliances, fireplace, wet bar, ceiling fans, central air, central heat, and all the Indigo Lakes amenities, like pool, clubhouse, and golf.

This is not a fixer upper - just a real bargain for a golf course home in Florida!

Contact me for details and a private showing.

The Florida Assn. of Realtors has released data to show that Florida's existing home sales rose in August, marking a full calendar year that sales activity increased in a year-to-year comparison. Existing home sales rose 28 percent last month with a total of 13,850 homes sold statewide compared to 10,813 homes sold in August 2008. The state association also reported a 45 percent increase in last month's statewide sales of existing condos compared to the previous year's sales figure.

"For a year now, statewide sales of existing single-family homes in Florida have increased each month compared to the year-ago figures," said 2009 Florida Realtors® President Cynthia Shelton. "This is encouraging news, and while it shows the beginnings of recovery, the housing market still needs time to continue its gradual absorption of housing inventory that will help stabilize home prices."

Florida's median sales price for existing homes in August was $147,400; a year ago, it was $188,500 for a 22 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

NAR Chief Economist Lawrence Yun is optimistic, "The fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. The buyer psychology may be shifting from, ‘Why buy now when I can purchase later,' to ‘I don't want to miss out on a recovery.'"

The Daytona Beach area reported a total of 686 homes sold in August compared to 573 homes a year earlier for a 20 percent increase. The market's existing home median sales price last month was $132,700; a year ago it was $164,200 for a 19 percent decrease. A total of 135 condos sold in August, up 27 percent over the 106 units sold in August 2008. The existing condo median price last month remained level compared to a year ago at $184,300.

I sound like a broken record - it's still a Buyer's Market here! Search homes for sale in the Daytona Beach area, and see what you can buy! Then contact me to preview homes and help you get preapproved.

Most of what you've read the last couple of months has been geared to 1st time buyers because of the tax credit available. But in our Daytona Beach real estate market, we have a large percentage of investors - folks who want to buy now to use in later years, or just buyers who see the market as a great opportunity for rental property. Here are some points you should consider when you think of becoming a real estate investor:

1. Location: Invest in the very best location you can afford. You will attract better tenants, higher rents, and achieve more appreciation. You can buy golf course frontage or waterfront homes now in Ormond Beach or Daytona Beach communities for bargain prices.

2. Be cautious spending money on improvements: don't be the most luxurious rental in the building. You won't get rents to compensate, and you still will get wear and tear. Most tenants look for homes that are light, bright, and clean.

3. Go into investing for the long-haul: flipping was a strategy in previous years, but not in this real estate market. Plan on holding the property 5-10 years. Our Daytona Beach properties aren't expected to rise enough in value in the next few years for a short investment timeframe. Historically, real estate has been an excellent investment, always appreciating a few points over the rate of inflation.

4. Down payment: plan on 25-30% down for non-owner occupied homes.

5. Know your cost of ownership: include association dues, reserves for repairs, taxes, utilities you don't pass on to the tenant, reserve for vacancy, and your mortage payments. Budget for more, not less.

6. Fixers are OK: cosmetic repairs are easy and cheap, meaning paint, landscaping, light fixtures, and a thorough scrubbing. Unless you are a contractor, don't do the repairs yourself - it will be obvious. All expenses will now be tax deductible - hire professionals.

7. Always screen the tenants: even if you have personal knowledge, get a credit check, call old landlords, and verify employment.

8. Know the landlord-tenant code: know your rights and those of tenants. Be ready for an eviction and happy you don't have to go through one.

9 What type of property is best for a Daytona Beach investment: In general, buildings with 3-4 units or duplexes pencil out best, followed by single family homes with 3 bedrooms. Some investors find it works out best to buy a duplex and move into one of the units.

10. Learn about the tax advantages and whether they will be advantageous for your own situation: talk to a tax person or CPA, and make sure you can afford the investment even if it is empty.

If you do your homework, and investment property seems a good real estate strategy for you, now is the time to buy in Daytona Beach or Ormond Beach. Prices are so incredibly low! Contact me to learn what waterfront homes or condos, or golf course, or even modest properties in great communities - are selling for, and search our homes for sale on my web site. Start building your real estate portfolio in this "bargain basement" market.

I just posted a new listing on Sugar House Drive in Sugar Forest.  This is such an interesting name for a community, but I couldn't find any information on why it was named that - maybe an old sugar cane plantation?  Anyway, Sugar Forest offers single family houses, duplexes, and triplexes. There are no HOA fees.   Sugar Forest is loaded with natural beauty and the streets are lined with mature oak trees. The homes are older, but most have great pride of ownership.  The community is in an area that's an easy commute to Port Orange, South Daytona and Daytona Beach.  Plus, the beachside is about 10-15 minutes away. Families and empty nesters alike live in the area, which is just minutes to shopping, hospitals, and conveniences.

There aren't many homes listed currently in Sugar Forest, but below is a widget to search single family homes for sale in Port Orange, FL.  Be sure and let me know if you see a property you want to preview.  I can give you detailed real estate market information on any Port Orange neighborhood, or the Daytona Beach area.

No, I don't mean the blues about the real estate market in Daytona Beach, but the great live music scene here in Daytona Beach. We've long been famous for the great musicians who have roots in Daytona, like Stevie Ray Vaughn and the Allman Brothers, but the Daytona Beach Blues Society helps promote and showcase Blues music.

Thanks to fans and residents who support the music, the Society is thriving, and national touring bands and local musicians alike are welcome here in North Central Florida. Founding President Jeff Fedor is a performing roots blues artist, and is also singer and songwriter.

Check out the Bank & Blues Club on Daytona's main street every Wednesday night, 9 PM for a lively blues jam. As reported by Dick Conklin, in the Examiner, "The jam attracts the best in local blues musicians, starting with a featured band for the first set followed by an amazing collection of talented jammers who sign in at the door and play their hearts out throughout the evening." Cover $3.

Read more at Conklin's Examiner article on the Society.

The blues scene is just one part of our relaxed, vibrant lifestyle here in Daytona Beach. Other fun things this month are:

Flagler County Special Olympics Sports Fishing Tournament - Sept. 11-12
Books and Breakfast Benefit for Pace Center for Girls, Hampton Inn, Ormond Beach - Sept. 18
JaxRaw Meetup, Present Moment Cafe - Sept. 20
New Smyrna Beach Jazz Festival - Sept. 24-27
Fashion Show and Lunch Benefit for Children's Advocacy Center, Daytona Beach Oceanfront Resort - Sept. 25

Come join us - contact me for information on great buying opportunities in Daytona Beach real estate before the 1st Time Buyer Tax Credit expires.