Beachfront property an excellent buy

Daytona Beach, FL On a number of his websites, O. Kheir, REALTOR and Broker Associate with Sea Quest Properties, Inc. launched an international campaign to urge home buyers who have been waiting to buy the home of their dreams to act now before the market changes.

"It's a great time to buy or sell a home." Why? Kheir points out mortgage interest rates have fallen for more than six months in a row. “We’re at near 40 year lows, Daytona Beach inventories of existing homes are higher than they have been in decades and prices seem to have stabilized” says Kheir. What could be more perfect for buyers are likely to change as sales pick up, prices regain traction and overall conditions improve for sellers next year at the World’s Most Famous Beach?

Traditionally, oceanfront condo ownership has been a safe, secure way to build long term wealth. Investors saw prices for ordinary condo rise rapidly for the past 5 years, and now the median price of oceanfront condos bought10 years ago has more than doubled. Nationally, the number of U.S. households is expected to increase 15 percent during the next decade, creating a continued high demand for housing," that sentiment is echoed by former Federal Reserve Chairman Alan Greenspan saying, "Most of the negatives in housing are probably behind us. The fourth quarter should be reasonably good, certainly better than the third quarter."

Kheir now urges buyers and sellers to take advantage of the favorable market conditions and make deals now before prices take off again. As one of 1.3 million Realtors, Kheir hopes that his fellow real estate professionals spread the word, “We live in a unique time that has perfectly aligned low interest rates, and increased inventory and with some recent price reductions, buyers are coming back to look for deals.”

According to Freddie Mac, the national average commitment rate for a 30- year, conventional, fixed-rate mortgage was 6.40 percent in September, down from 6.52 percent in August.

O. Kheir specializes in the sale of oceanfront properties in the greater Daytona Beach area. Currently Kheir has listed several attractive oceanfront properties ranging in price from under $300,000 to over $ 2,200,000“ One of my best deals is new luxury construction - a direct oceanfront condo that offers 3 bedrooms and three bath sells for less than $300 per square foot.”

Kheir asks “What could be better than moving to the beach while boomers are young enough to be active and full of vitality?” And that’s why Kheir stays busy courting local sellers and buyers from around the United States and overseas.