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condotel: New Mercedes for $60. Only in Florida - 04/05/09 08:15 PM
Our office is in Fountain Beach Resort, which is a condo-hotel. On the Marquee sign we have one line. Today it ways "Condos fr $35K".
People walk into the office and ask us about these condos. We give them the printout, brochure, and take them to this $34,900 (we shorten it on the sign) unit. A foreclosure unit, nothing wrong and nothing great about it, a decent size hotel room. Not rented because the lender / owner does not know that they can rent it.
When they come and ask about the condo, I often ask them what they are looking for. … (4 comments)
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condotel: Oceanside Inn. A Condo-Hotel in Spring 2009. - 04/04/09 11:18 PM
It is April already. Time to check on the Oceanside Inn - a condo-hotel on the Atlantic Ocean in Daytona Beach Shores.
9-story condo-hotel is home to 191-room resort right on the Atlantic Ocean. End of last year was tumultous for the property, but many people did not understand what happened there. And what happened was the control of the property shifted from a professional management company to the board that is a well intentioned clueless people.
Sales pretty much died in the ceanside Inn. A few short sales in the resort, with double units from $75K, whihc is half of what it cost from the developer … (2 comments)
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condotel: Fountain Beach Resort. - 04/04/09 09:49 PM
It is April already. Time to check on the Fountain Beach Resort - a condo-hotel in the heart of Daytona Beachside.
This oceanfront 6-story condo-hotel is home to 149-room resort right on the Atlantic Ocean. Not much changed in the time that I wrote about it last. The Board made some new rules making life of the condo owners a notch more complicated, which is why the Boards are there, or that is what the owners believe.
Sales pretty much died in the Fountain Beach Resort. They got one foreclosure listed at $34,900. Yes you got it right, $34,900. The most expensive similar unit in the … (2 comments)
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condotel: Understanding Condo-Hotels. Taxes- The Achilles Heel. - 02/22/09 04:13 PM
Taxes are the Achilles heel not only for condo-hotels, but for any property in Florida. With the next cycle of skyrocketing prices, which is not out of sight, the tax burden would again come into play.
January 29, 2008 there was adopted a Constitutional Amendment, that changed the way the property taxes are paid in Florida. For homesteaded properties the homestead exemption is increased from $25,000 to add another $25,000, however, school tax is still assessed on the second part, so it is not exaclty $50,000 exemption, but still a good one at about $39K - $40K of just value, whihc … (1 comments)
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condotel: Understanding Condo-Hotels. Association Fees - 01/31/09 10:20 PM
To read Part 1 go to: Understanding Condo-Hotels. Part I
Maintenance Fee. The simplest but the most confusing issue.
The first question is always about the association (or maintenance) fee. Sometimes I would even get "give me the fees for different condo-hotels and we will make our decision based on that".
On our street smart scale the less the maintenance fee, the better. Let's look into that.
Maintenance fee is a sum of the expenses needed to run the property plus the reserves (not always). Cost of KWT of electricity is the same, cost of gallon of water is the same, cost of labor in the … (4 comments)
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condotel: Studio Condo Hotel Unit 429. Fountain Beach Resort - 10/04/07 10:06 PM
Cozy unit on the fourth floor with southern view of the ocean. Newly tiled and custom furnished. Unit is rented by the owner. Queen beds with custom frames containing linen storage. All new appliances. Clean and immaculate throughout.
Very good views from the 4th floor. Condo-Hotel unit is on the preferred South side unit in Fountain Beach Resort. Enjoy your panoramic views of the Ocean. Wathch dolphins play right from the balcony. Amenities include the pool, restaurant & Tiki Bar, coin laundry.
The resort has gone through major renovations. New roof, balconies are done, new paint, new electric. The lobby and the whole first floor … (0 comments)
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condotel: Studio Unit 615. Fountain Beach Resort - 10/04/07 09:00 PM
One of the best views in this resort from the 6th floor. South side unit in Fountain Beach Resort. Enjoy your panoramic views of the Ocean right from your bed or step to the balcony and watch dolphins play. Spend time in the pool, enjoy a walk on the beach, or sip cold beer at the Tiki Bar.
The resort has gone through major renovations and is still in the process of getting better. New roof, balconies are done, new paint, new 220 electric. The lobby and the whole first floor have been remodeled.
Located in the heart of Daytona's beachside, walking distance away from … (0 comments)
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Jon Zolsky, your Daytona Beach, Florida connection
Daytona Beach,
FL
More about me…
Jon Zolsky, Daytona Beach, FL. FunCoast Realty, 386-405-4408
Address: 313 S Atlantic Ave., Suite A, Daytona Beach, FL, 32118
Office Phone: (386) 255-5355
Cell Phone: (386) 405-4408
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