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daytona beach condohotels: Which Condo-Hotel to Buy For Less Than $50K - 05/11/11 07:29 PM
I had an interesting conversation on the phone with a high school teacher, who was interested in condo-hotels in Daytona Beach area.
She has read my blogs, and was very familiar with the issues. Price, especially since these are cash buys, was an important parameter. So, what would I buy if I were in her shoes?
I promised that I would look at condo-hotels on the market and pick 10 best under $50K. I went to MLS and put the list together trying to balance between the price and other considerations.
I came one short of 10. Only nine units made … (6 comments)
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daytona beach condohotels: Oceanside Inn - Daytona Beach Shores Condo-Hotel - 08/22/10 02:32 PM
I have a customer, who wanted to see a few units in Oceanside Inn – a premier condo-hotel in Daytona Beach Shores.
It is late Sunday morning. There is a line at the Front Desk. Wet skin all over. Guests in swimsuits, which is purely Floridian. People went to the Beach and the pool to swim for the last time before leaving Daytona Beach Shores, and women are wrapped in towels waist down, and it looks like colorful summer skirts.
This is the end of a very busy season this year, and GM James Dion is on a week’s vacation as … (4 comments)
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daytona beach condohotels: Direct Oceanfront One-Bdr Condo in Daytona Beach Shores - 06/13/10 12:15 PM
This is my new listing - direct oceanfront one-bdr condo in Daytona Beach Shores
There are only four condo units on the ground floor of Oceanside Inn, a 191-room premier Daytona Beach Shores direct oceanfront resort converted to a condo-hotel in 2003-2004.
All four ground floor condos are direct oceanfront one-bedroom units. There are several advantages of being on the ground floor:
· 14’-high ceilings
· Your own door right to the beach
· They are hooked to AC system serving first floor and there are not noisy wall AC units
· These units are equipped with full kitchens
Except for … (4 comments)
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daytona beach condohotels: Changes in Plaza Resort & Spa - Daytona Beach Condo-Hotel - 02/19/10 07:40 PM
We have not visited the Plaza Resort & Spa for some time. So, what happened in the Plaza Resort & Spa in Daytona Beach since we visited it last?
Well, there are quite some changes. Plaza Resort & Spa is a condo-hotel, and it has the condoowners Association. There was an annual meeting of the Association. As I wrote before, this is the Developer's association. They do not run monthly meetings, and they, pretty much do what any hotel would do.
At this annual meeting there was the budget to vote for, and they did. What everyone was waiting for was … (0 comments)
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daytona beach condohotels: Taxes in Plaza Resort & Spa, a Premier Daytona Beach Condo-Hotel - 01/28/10 03:44 PM
Below is the e-mail that I have received from a gentleman buying an oceanview unit for $45,000 in Plaza Resort & Spa in Daytona Beach. I thought the question could be of interest to anyone buying a condo-hotel (and not only a condo-hotel) in Daytona Beach area.
What is the tax rate. Are the units at the Plaza taxed on what you pay for them ...or a higher amount. What do you think unit xxxx will be taxed at if it sells. What is it currently taxed at?
Though what you paid for a property in Florida significantly affects your tax, it is … (1 comments)
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daytona beach condohotels: Hawaiian Inn in Daytona Beach Shores. Market Snapshot - 01/13/10 01:07 AM
Hawaiian Inn2301 S Atlantic Ave.,Daytona Beach Shores, FL 32118
Hawaiian Inn is going through roubled times with their major concrete restoration, which could not happen at a worse time.
Economy is suffering. Daytona is empty, and with it the hotels and condo-hotels hardly have many cars in the parking lots.
The restoration takes additional toll when you have to pay special assessments and there is no income coming both because of the economy, and the construction, blocking access to sizable number of units at any given time.
Hence the prices, unseen after units were sold by the developer in 1999. … (0 comments)
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daytona beach condohotels: Condo-Hotels in Daytona Beach Area. What is Happening - 10/04/09 11:59 PM
Condo-Hotel market in Daytona Beach area is slow, and it is not really surprising. Condo-hotel market goes hot after the residential condo market is on a rise for quite some time, which creates a serious gap between the prices, making condo-hotels the only option to be on the ocean for reasonable price. This is the last property type to appreciate and the first to start falling when the market winds change.
Overall market conditions have warmed up in the area, and it is reflected even in the Condo-hotel segment. From over 300 condo-hotels units for sale before January, we are to … (6 comments)
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daytona beach condohotels: Oceanside Inn in Daytona Beach Shores. Premier Condo-Hotel Resort - 09/16/09 12:47 AM
Time for the update for Oceanside Inn in Daytona Beach Shores. Premier Condo-Hotel Resort Oceanside Inn is one of the best condo-hotels in Daytona Beach Shores. This 192-room oceanfront resort was the last conversion before the price hike, therefore it was holding the ground pretty well, but economy sliding down caught up with it and today you can find deals for way less than what they were sold by the developer. The resort is well set up for a condo-hotel. It is not surprising. John Rainey, the developer, is probably the most experienced condo-hotel conversions developer with Oceanside Inn being his … (4 comments)
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daytona beach condohotels: Plaza Resort & Spa in Daytona Beach. Drastic Changes in Price - 09/13/09 11:56 PM
Plaza Resort & Spa in Daytona Beach. Drastic Changes in price. The Resort is at 600 North Atlantic Ave. This is a premier condo-hotel in Daytona Beach.
Converted in 2005 at the peak of the market it was an immediate hit, which died as quickly with the first cool wind in the market. I guess there was room for developers to adjust the price and sell another 20-30 units, but they have sold 2/3 at great prices, and they were not desperate, and they, as the rest of us, did not expect that this was a long drought ahead.
However, the new market … (2 comments)
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daytona beach condohotels: The Only Condo-Hotel in Ormond Beach - Symphony Beach Club - 08/22/09 02:57 PM
The Only Condo-Hotel in Ormond Beach - Symphony Beach Club
Symphony Beach Club is the only Ormond Beach condo-hotel. Its address: 453 South Atlantic Ave., Ormond Beach, FL 32176
Built in 1985. 32 units total. Units are generally small, ranging from 297 sf, and up, with one stack of the largest studios - 417 sf. Have Murphy beds.
Maintenance Fee: 295 a month. 50/50 split of rental income if rented with the Front Desk.
For those who want some home cooking, there are modern fully equipped kitchens available. Oceanfront pool. Also on-site is a BBQ grill and exercise room. On-site management. … (4 comments)
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daytona beach condohotels: HOW TO BUY A UNIT IN PLAZA RESORT & SPA IN DAYTONA BEACH. TALKING ABOUT VALUES - 05/12/09 09:39 PM
This is now a daily occurrence. I get e-mails or calls from people who are interested in Plaza Resort and Spa, a premier Daytona Beach condo-hotel. They are asking how to buy a unit in Plaza Resort & Spa in Daytona Beach. Lets start talking about values.
Prices start from high $40s, nice 4-star resort, and with prices like these it beats any other condo-hotel in the area.
The problem is that my callers think that these prices are the market values in Plaza, and nearly everyone thinks that in this market they can get things for half of the price.
… (9 comments)
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daytona beach condohotels: 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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daytona beach condohotels: 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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daytona beach condohotels: Ocean Walk. News From The Grapevine. - 03/15/09 01:23 AM
The most expensive luxurious condo resort in the area, and the only condo-resort in the area that was built as a resort from scratch, and not converted to condominiums from a hotel is Ocean Walk, an impressive project encompassing a 19-story South Tower and 25-story North Tower. They are part of a larger ocean Walk Village project, which includes Hilton Daytona Beach Oceanfront Resort, Wyndham Ocean Walk, Ocean Walk Shoppes and the Ocean Center, a 6-story Parking Garage....
Pre-construction sales started, I think, in 1999, and at that time $139K price tag for a 683-sf oceanfront one-bedroom sounded exorbitant. At that time you could buy a residential 2 … (4 comments)
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daytona beach condohotels: Buy One Home Or Condo, Get One Free. - 02/26/09 01:36 PM
The articles just published in our local News journal on February, February 25 FALLING HOUSE PRICES SEND SALES UPWARD and AREA HOME SALES CONTINUE TO CLIMB on Feb. 26 (BOTH BY BOB KOSLOW, BUSINESS WRITER) bring the long waited news to everyone of us.
According to the article, "falling home prices are starting to have a positive impact with another month of increased sales of existing houses in the Volusia-Flagler market".
The data shows that for single-family homes sold in January, the median price was $131,800 in the two-county area, which is down 26% from the same month last year.
Falling prices attracted buyers and reflected … (3 comments)
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daytona beach condohotels: 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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daytona beach condohotels: Understanding Condo-Hotels. Is This For Me? - 02/22/09 01:48 PM
A lady called me in the morning. She was calling about her mom, an older lady, who would love to live in a warmer climate closer to the ocean. They see the prices in the $30s in Hawaiian Inn, and they like the way the property looks, so they are interested.
Do you know that bad feeling, when people are looking for something, and they are genuinely interested, but you know already that they are not going to be happy there? I got it often. Today was not the exception.
So, who should buy, or, better, who should not buy a condo-hotel in Daytona Beach? Well, … (6 comments)
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daytona beach condohotels: Understanding Condo-Hotels. Simple Math - 02/07/09 05:43 PM
Understanding Condo-Hotels. Part IUnderstanding Condo-Hotels. Part 2 Understanding Condo-Hotels. A Glimpse At History
A few days ago I was driving along Atlantic Ave back to my oceanfront office (our office is on the first floor of a condo-hotel), and I was lazily reading the signs.
It was the middle of a slow day, not much traffic if any at all, nice, sunny and deserted. If you just drive along the ocean, you would not know which of the properties are hotels/resorts, and which are condo-hotels.
And it doesn't matter ... until you are buying there. So, I am driving and reading the marquee signs, … (3 comments)
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daytona beach condohotels: Understanding Condo-Hotels. A Glimpse At History - 02/07/09 05:02 PM
Understanding Condo-Hotels. Part IUnderstanding Condo-Hotels. Part 2
Started in South Florida in early 80s, the condo-hotel concept went into hibernation after the change in tax laws in 1986 and rebounded in the second half of 90s. In Daytona first condo-hotels started when owners of oceanfront properties (BTW, from South Florida) cold not sell them as hotels in the stagnant market (the today's is not the first in history), and found it much easier and more profitable to sell units to individual owners.
Those few properties were older hotels, the Sellers/Developers spend minimum to remodel, which was required to convert. These properties … (1 comments)
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daytona beach condohotels: Ritz Carlton Has A Better Customer Service. But For Big Bucks - 11/27/08 03:10 AM
By virtue of having my office in the Condo-Hotel, I am involved in them more than I would like it.
There are advantages of having the office in the condo-hotel and disadvantages. Advantage is that you are on the ocean. You can walk out of your office and enjoy the breeze, give rest to your eyes, just take a break and recoup. Of course, I do not do any of that, but isn't it this way in life: we are dying to have something, and then never use it. Knowing that I can go there any time, that;s what important. Also, the convenience … (9 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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