A lot of folks just wanna hear about the data, they just want an update. They wanna know how is this county doing? How is the zip code that I’m in? And a lot of times I will start the narrative for the area that I’m talking about with some macroeconomic data or some updates on what’s going on in the greater economy because those things affect where you live. And I gotta tell you folks, there’s some interesting things breaking out. And today we’re gonna focus on an area north of the Orlando Metro. Some of the areas on the south side of the county of Volusia, which is what we’re talking about today, are actually very much a part of the Orlando Metro area. Specifically when you’re talking about Deltona and DeLand. And many of you, Orlandos, you would say, you know what?

We don’t claim you Volusia County people. You are not a part of the greater four county area, which makes up Orlando. We do not count you as us. But I have to tell you, through the exploding home prices over the past five years, many people who work in Longwood, north Orlando, Lake Mary, Heathrow, many of those locations becoming far too expensive, pushed people to then take the 20 minute drive just north to where they find themselves in South Volusia in Volusia County.

My friends, I get more requests for updates as of late, people just beating down my door in any way possible saying, Jared, you gotta tell us what’s going on. So back to the point I’m making as I open this video. What is leading headlines today? Well, there’s a lot of corporations that are struggling. In just the past week, Disney CFO just came out and said, surprise, we are starting to see that park attendance through summer is starting to look bad. We’re gonna have some weak numbers in a third quarter. Fast forward to last week, then all of a sudden we saw Airbnb’s stock absolutely crumble. Might I add completely unconnected to the Disney point I’m making? But in some ways they are connected. Now Airbnb is having a problem because they’re showing that there are signs of weakness and their earnings.

They’re saying that people just can’t afford the luxury of renting our places. And that demand for Airbnb all across the US is cratering. And so their stock plummeted. Now if we’re talking about Volusia County, Jared, why should I care? Because you have to understand Florida is leading the nation in negative real estate data. What I’m saying is our inventory is surging faster than anywhere else. Buyers are canceling in Florida at a higher number once they go under contract, which is not good for home sales price cuts and the percentage of which sellers have to reduce their price order track to buyer is starting to hit very big numbers anywhere you look throughout the state of Florida, all of which indicating that we ourselves are seeing a massive transition and a shift to a more buyer controlled market.

Long gone are the days where sellers could demand a buyer waive their appraisals and all kinds of things. Buyers now are a bit more concerned about the high cost that they will face when they purchase. Now as we speak Daytona, you have to understand that all of these costs hit very close to home in this particular market. You’d say, Jared, what do you mean? There is no doubt that as buyers are interviewed, what they consider to be the hidden cost of home ownership absolutely becomes very visible in this particular market. It’s no surprise that insurance is absolutely expensive. It’s further no surprise that if you own a home closer to the East coast, you might just experience higher coverage cost for your property. Not to mention the condo crisis, which is unfolding in Florida, where at the heart you have HOA assessments, skyrocketing, squeezing existing owners. Many of these people that own these properties in Daytona are snowbirds.

They live somewhere else. So they don’t have the homestead protection that keeps their property tax from absolute skyrocketing, which is exactly the case over the past five years as property appraisers keep pushing those numbers to help them in turn pay for the high cost of schooling children and things of that nature throughout Volusia County. Not to mention the fact that these older buildings in Daytona, the older condos, specifically ones that are over three stories high now are falling under the new laws that were changed because we had that building collapse in Miami, which is now on its own unfolding to a huge dilemma for homeowners. And that alone is pushing massive amounts of inventory of those older buildings onto the market and many buyers are stepping back and they’re not making a move on them, leaving them largely unsold. And again, all of these features are greater help in pushing clickbait stories all across the internet about how Florida’s market’s taking a dive. While it is true the market is transitioning, you have to understand that each of these areas are suffering in their own unique ways. And you might find an area that’s completely doing the opposite. And it’s with that goal that if you own a home here now or you’re considering purchasing one in the future, this channel exists.

I’m gonna do just what I’ve always done, particularly for Volusia County, which is a deep dive so that you fully understand how the marketplace here looks at this moment in time. And if you appreciate the hard work and effort I’ve gone to to bring you this update, do me a favor real quick. Drop down below, smash the thumbs up. It helped the video and I thank you for doing it.