Where is New Smyrna Beach in the Current Real Estate Cycle?

New Smyrna Beach's Minorca Condos

New Smyrna Beach’s Minorca Condos

With the volume of single family home sales up 17.9% in February 2015 and condo sales up 15.6% compared to February 2014, it is easy to see that the real estate scene in New Smyrna Beach is seeing an unprecedented real estate boom not seen since the real estate market tanked.

The 2015 real estate market overall here in New Smyrna Beach is seeing less inventory evident by 7.9% less single family homes on the market and 3.3% less condos and townhouses on the market in February 2015 than February 2014.

This time, the market is being fueled by rich Central Floridians and out-of-town investors who are looking and eager to purchase in financially solid regions and to be part of projects established by experienced developers. New Smyrna is being recognized as an exciting place to own a condo or beach side home, and a great location in the county to get out of the rough northern winters.

The current real estate cycle differs drastically from the pre-market crash cycle in that it is much healthier as no one is taking big risks.  Investors are only looking to support financially strong projects with experienced developers in the drivers seat.

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February 2015 NSB Board Stats | http://www.sarahcaudill.com

February 2015 Single Family Homes NSB Board of Realtors Statistics

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February 2015 NSB Board Stats | http://www.sarahcaudill.com

February 2015 Condo and Townhome NSB Statistics

To search the current MLS listings in Volusia county directly:  Click Here

Why New Smyrna Beach FL is a Great Place to Retire

Retire in New Smyrna Beach | www.sarahcaudill.com

Retire in New Smyrna Beach | http://www.sarahcaudill.com

New Smyrna Beach FL is a great place to live and it is also a good place to retire!

PROS:

  • We have a strong small town economy here in Central Florida.
  • The average home price is $185,000
  • Population of about 23,000 people
  • Warm winters
  • High number of doctors per capita
  • Good ratings for bicycling, walkability
  • Average tax climate
  • Big outdoor recreation scene with boating, golfing, fishing, paddle boarding, and bicycling
  • Low serious crime rate

ABOUT NEW SMYNRA BEACH:

New Smyrna Beach is 50 miles East of Orlando, FL and 89 miles south of Jacksonville, FL.  The white sand runs for 13 miles along our coast with driving permitted on portions of the beach.  New Smyrna’s beachside is a barrier island with the Atlantic Ocean bordering the East side and the Intra-coastal waterway bordering the West side.   The elevation is on average 9 feet.  Tides change every 6 hours and average 3 feet.

Year around temperatures in New Smyrna Beach, FL are very mild and pleasant.  The average annual temperature is 71 degrees Fahrenheit with highs averaging in the 80’s in the summer and lows averaging in the 60’s in the winter.  Afternoon showers are common throughout the summer months.

Find a home in New Smyrna Beach:

Real Estate in New Smyrna Beach FL

To learn more about New Smyrna Beach, check out my other related blog posts:

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Prestigous New Smyrna Beach Condos

5 Things You Should Do Before You Move Into Your New House

1.  Change out the Locks – The first thing you should do after leaving the closing table at the Title Company and receiving the keys is to change the locks of your new home.  You do not know who all has had keys to the home in the past and you want to ensure that you are the sole person with access to your home.  It is very inexpensive to change out the locks yourself or call a locksmith.

2.  Have your A/C Ducts Cleaned Out – Next, you should hire a duct cleaning service to clean out the ducts of your home.  It costs about $400 and will drastically improve the air quality in your new home.

3.  Clean the Carpets – Prior to moving in your furniture and personal belongings, you should steam clean the carpeted areas within your new home.  You have two options to have this work done.  It costs about $50 per day to rent a steam cleaner and do the work yourself or you can hire a professional carpet cleaner for about $50 per room.

4.  Pest Control – Ask a local pest control company to come out and treat the home for unwanted guests including roaches, ants, and spiders.  Depending on your location you might also want the home treated for mice and termites.

5.  Familiarize Yourself with the Location of the Main Water Valve and the Circuit Breaker Box – Make sure to test and ensure all of the switches in the breaker box are labeled appropriately.  It is important to know which switches control the different areas of your new house.  Also, it is good to know where the main water valve shut off is.  You always want to be prepared with that knowledge in case of a plumbing emergency situation.

For more information on important things to do when purchasing your new home, click here 

How to Financially Prepare to Purchase a Home

Before you start shopping for your property, it is a good idea to make some preparations.

Build Your Green File.

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

  • Financial statements
  • Bank accounts
  • Investments
  • Credit cards
  • Auto loans
  • Recent pay stubs
  • Tax returns for two years
  • Copies of leases for investment properties
  • 401K statements, life insurance, stocks, bonds, and mutual account information.

Check Your Credit Rating.

Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution so that Sarah can determine what you can afford. The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union. I will be happy to recommend experienced, knowledgeable lenders in the residential, construction, commercial, and investment real estate fields.

Be Careful With Your Finances.

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.

Please visit my website to find more tips on preparing to purchase a home  Deciding to Buy and search the MLS listings throughout Volusia County directly on my website www.sarahcaudill.com