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Isn't It Overpriced?
My clients came to see this three-bedroom/three baths direct oceanfront unit in Bella Vista in Daytona Beach Shores. The view is excellent, view east to the ocean and north, making it a panoramic spectacular view. Unit is in perfect condition. They liked the unit. The question is: «Isn't it overpriced?» I know why the question came. Just yesterday another unit, just next to it (not direct oceanfront) was closed for just under $400K. So, is it overpriced? There are 7 units for sale in Bella Vista and this particular unit for $421 is the least expensive unit. Next unit just one floor higher is $488,900. No, it is not overpriced. When there are several units for sale in Bella Vista, and this one is the least expensive, it is not overpriced. What "overpriced" means? Only that in this market it can't be sold for the asking price. The lowest priced unit, which is also the lowest in comparable buildings like Palma Bella, Ocean Vistas and Ocean Villas, is not overpriced. It is not what other units were sold there for. It is what you can sell here today. And the Seller can be pretty comfortable with the price... For ... more
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