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Old 11-30-2017, 12:16 PM
 
3,218 posts, read 2,434,870 times
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Report: Volusia-Flagler No. 3 in nation for 2nd home buys - News - Daytona Beach News-Journal Online - Daytona Beach, FL

This follows a story yesterday that Volusia County was predicted to be #3 in the country in housing market Forecast: Volusia to be No. 3 hottest housing market - News - Daytona Beach News-Journal Online - Daytona Beach, FL
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Old 11-30-2017, 04:09 PM
 
Location: Ormond Beach, FL
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The statistics are based on less than 8000 real estate sales. That is a small number of sales and resulting statistics shouldn't be compared with larger metro areas with 5 times the number of sales.
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Old 12-04-2017, 10:29 AM
 
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I don't think it is looking at total numbers but percentage increases in not only sales but price and number of days on market. However, the number of new developments going up might mean a decline in resale in the future. Personally I wouldn't buy in a new development unless it was at the end of the building out because it may take a long time to see any gains when you have new competition. I know people who bought in Venetian Bay at the beginning and they have yet to recoup their original cost after the crash starting in 2008 plus they are still building out. .
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Old 12-04-2017, 01:32 PM
 
18,172 posts, read 16,409,991 times
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Quote:
Originally Posted by NorthofHere View Post
I don't think it is looking at total numbers but percentage increases in not only sales but price and number of days on market. However, the number of new developments going up might mean a decline in resale in the future. Personally I wouldn't buy in a new development unless it was at the end of the building out because it may take a long time to see any gains when you have new competition. I know people who bought in Venetian Bay at the beginning and they have yet to recoup their original cost after the crash starting in 2008 plus they are still building out. .
We bought there earlier this year, home still being built and already have equity even after sales costs, due to the rise in construction costs. If we sold early next year we would make money after all costs. We however will not sell.
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Old 12-04-2017, 02:42 PM
 
17,326 posts, read 22,073,418 times
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It is cheap compared to most markets. Add in the biker/NASCAR events and suddenly it is an adult Disney World!

I bought a great place there in 2005......year was absolute high of the market! Place is worth literally 1/2 of what I paid 12 years ago. The absence of high paying jobs penalizes the 2nd home market when the economy collapses (there are NO locals to sell your house to)

Last edited by City Guy997S; 12-04-2017 at 03:03 PM..
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Old 12-05-2017, 11:06 AM
 
3,218 posts, read 2,434,870 times
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Quote:
Originally Posted by City Guy997S View Post
It is cheap compared to most markets. Add in the biker/NASCAR events and suddenly it is an adult Disney World!

I bought a great place there in 2005......year was absolute high of the market! Place is worth literally 1/2 of what I paid 12 years ago. The absence of high paying jobs penalizes the 2nd home market when the economy collapses (there are NO locals to sell your house to)
Yeah it is definitely not an area of high paying jobs, rather it is becoming more a retirement area. I think the local politicians could take a lesson from South Carolina and start marketing the area to companies who pay higher wages. I lived in Greenville SC for 25 years and it went from a dried up town to booming in that time period due to both the state and the local governments incentives to businesses and the technical colleges providing training. They need to get on the stick.
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Old 12-05-2017, 02:44 PM
 
18,172 posts, read 16,409,991 times
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Quote:
Originally Posted by NorthofHere View Post
Yeah it is definitely not an area of high paying jobs, rather it is becoming more a retirement area. I think the local politicians could take a lesson from South Carolina and start marketing the area to companies who pay higher wages. I lived in Greenville SC for 25 years and it went from a dried up town to booming in that time period due to both the state and the local governments incentives to businesses and the technical colleges providing training. They need to get on the stick.
FL's Governor I believe has tried to get CA companies to move to FL. FL is a popular State and now the 3rd largest, so it will grow and demand for better jobs will drive companies to move there.
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