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daytona condohotel: What Is The Rental Income for Condo-Hotel? - 10/21/12 11:23 PM
I was looking at the various units that you have listed under 100k. I would like to know the rental incomes expected on the various units and may want to buy some based on that information I often receive similar requests. Can I provide such information? Actually, no. However, there is more to it, so here is my answer: First and foremost. Condo-hotels are not income producing properties, and should not be purchased for rental income. It is simply the wrong type of properties. Second. I am a real estate broker and I am helping buy or sell real estate. Condo-hotels (6 comments)
What is happening in Hawaiian Inn? Checking MLS and it shows that there are 18 units for sale as of today, October 15, 2012. From $54,900 for 248-sf unit to a 674-sf one-bedroom unit for $159,900.
Inventory has been on the rise since March. But growing inventory in Hawaiian Inn has not yet resulted in lower asking prices. Daytona’s market is seasonal and it slows in winter, so it is quite possible we might see more units popping on the market, which may trigger some adjustment of the market, especially after the elections are over.
Check the (0 comments)
daytona condohotel: Daytona Beach. Fountain Beach Resort. September 2012 - 09/18/12 06:14 AM
Time to visit Fountain Beach Resort in Daytona Beach. Looks like Fountain Beach Resort is more in line with a normal market tan many other condo-hotels and condos in the area. For a 148-room resort 11 units available for sale per our local MLS is a healthy number. Since August 15 to today there were 3 units sold. This is a darn good number, and actually, it is higher than average number of units sold in one month in the Fountain Beach Resort Many other condo-hotels and condos have much lower inventory percentage-wise. Why at the same time properties, which are (2 comments)
daytona condohotel: Daytona Beach. Plaza Resort & Spa. June 2012 Market Snapshot - 06/18/12 09:16 PM
Oh my… I am looking at Plaza Resort & Spa in Daytona, our premier condo-hotel oceanfront resort, and all I can see is the list of 12 units for sale on MLS… 12 units in Plaza Resort & Spa? This is a far cry compared to 2009, when we had 52 units for sale there, and the prices were from the low $30s. Funny that I receive calls every day from people who still think that our market is going down. But hey, there are always those who believe what they want to believe. Seeing firsthand make no difference to them… (10 comments)
daytona condohotel: Frequently Asked Question: Why I Can’t Just Bring A Cashier’s Check To Closing - 05/20/12 05:52 PM
We have a Closing for a condo-hotel studio on the beach scheduled for Thursday, and when I tell the Buyer that they would need to wire the money to the Closing Attorney, she said that she would bring a cashier’s check. And when I tell her that she would have to wire money, she is asking me why can’t she simply bring the cashier’s check? Actually you can bring a Cashier’s check, but if you choose so, you would need to do it a few days before the Closing day, so that the Closing agent can deposit the check and make (10 comments)
daytona condohotel: Harbour Beach Resort in Daytona Beach. April 2012 - 04/29/12 10:05 PM
Harbor Beach Resort in Daytona Beach. April 2012 Harbor Beach Resort is an 8-story condo-hotel located at 701 S Atlantic Ave south of Sun Splash Park. Built in 1975, this 164-room resort was recently renovated. Extensive concrete restoration (replacement of all balconies), plus installation of new windows and sliding doors, repavement of pool deck and some other important items have been taken care of. It is a beautiful building, and I remember that several years ago we considered it a very good condo-hotel, but since there were changes, that made us be cautious about this resort and in general we do (2 comments)
daytona condohotel: If I Want To Buy a Unit In Plaza Resort Today? - 02/06/12 01:00 AM
I received a call from a Canadian buyer. He called me a week ago and questioned me about one of my listings in Plaza Resort & Spa, a premier Condo-Hotel in Daytona Beach. I sent him all the information, we exchanged a few e-mails, and then it all came to a halt. I called him, and he explained that he made an offer on another unit in Plaza Resort & Spa. The one, which is direct oceanfront, and mine isn't. I figured that there is another agent involved, and I know that agent, so I said that it was fine and (8 comments)
daytona condohotel: How Many Units Are For Sale in Plaza Resort & Spa in Daytona Beach? - 02/02/12 09:45 PM
Plaza Resort & Spa, the premier Daytona Beach condo-hotel, is awake from the sleepy winter. A week ago there were 25 units for sale, and today only 22. The inventory is decreasing, but the prices have gone down as they always do in the slowest time of the year. They will slowly rise, expecially in summer. Summer is when we have seasonal real estate boom in Daytona Beach Area. So, there are 22 units for sale in MLS in Plaza Resort & Spa in Daytona Beach. Well, this is what MLS says. In reality there is 21 unit. Unit 506, (0 comments)
daytona condohotel: Looking for Best Condo-Hotel in Daytona Beach? - 04/01/10 09:12 PM
Looking for Best Condo-Hotel in Daytona Beach? Look no further. There is nothing like Ocean Walk Resort. I have received a call from a client, whose 2 condo-hotels we have sold back in 2004. His brother was in town, and was looking for at least a one-bedroom vacation place with the least hassle. Future possible resale was also important. I can run a long list, like it should be on the Ocean, and you MUST be able to see the ocean from the condo, etc., but we should not forget the important part: it has to fit the budget. Somehow it is rare that the list of parameters adequately corresponds (4 comments)
daytona condohotel: Buying A Condo-Hotel In Oceanside Inn in Daytona Beach Shores - 03/29/10 11:59 PM
Buying A Condo-Hotel In Oceanside Inn in Daytona Beach Shores It is time to do the update on what is happening in Oceanside Inn, a condo-hotel in Daytona Beach Shores. I would actually say that this is the best condo-hotel in Daytona Beach Shores. And though it is not a new building, of all condo-hotels, this one got the most extensive renovations at time of its conversion in 2003. 2009 was a very slow year for Oceanside Inn. There was only one sale. We worked with the Buyer in the transaction. 2010 is going to be a much more active year. 2 (5 comments)
daytona condohotel: Fountain Beach Resort - Daytona Condo-Hotel - 03/01/10 11:32 PM
Fountain Beach Resort in 2010. Daytona Beach.The resort started 2010 with a surprise twist, when the Condominium Association Manager, who also wore the hat of a General Manager, was let go without much ado. Why? We most probably would never know. The old company packed their stuff and vacated the office that they used as their headquarters for a couple of years and left. The rumor has it that they were tired of the duties of General Manager, as they actually do not really now the hotel business, this was not their forte, so they wanted to relinquish those duties and (3 comments)
daytona condohotel: Fees in Hawaiian Inn Beach Resort in daytona Beach Shores - 01/24/10 11:59 PM
The end of the year and the beginning of the new year always brings changes to the condo-hotel plateau in Daytona Beach area. I mean a direct Oceanfront Plateau (LOL) Elections of the Board of Directors, new budgets, changed Assocation fees. How much do they go up? And when you suddenly see that the fees go down, when every other Association had to increase to offset expenses, wy could that happe?.
But where the expenses can increase? One of the ways to end up paying way more is when the Insurance company reappraises the building and comes up with the appraisal that is (2 comments)
daytona condohotel: Welcome Home! Oceanside Inn - Daytona Beach Shores - 10/29/09 01:03 AM
Welcome Home!Welcome to Oceanside Inn - Daytona Beach Shores I had a closing today. One that was traditional and that we now do not have very often. Sitting at the table with the Closing agent and the Buyer felt like a thing from the past. We still did not have the Seller and seller's agent at the table, but this was REO and I did not expect the agent to come. The unit is direct oceanfront. It is the south east corner, so in addition to all the view directly to the ocean, it also has panoramic vistas south up to New Smyrna (8 comments)
daytona condohotel: Understanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos. Pluses & Minuses. - 08/24/09 11:55 PM
Understanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos. Pluses and Minuses is the 6th post in the series. You can see previous installments here:Understanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos. Living and RentingUnderstanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos. ManagementUnderstanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos. Safety of your Investment Understanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos Of course, the answer depends on your short and long-term goals. Both condos and condo-hotels are not income producing properties the way the apartment complexes are. You can't really apply investment approach to them, as they are at best speculative (4 comments)
daytona condohotel: Beyond Belief Denial. Losing Condo-Hotel Units in Daytona Beach to Foreclosure... for Pennies - 07/26/09 03:52 PM
Sometime the real life stories beat any and every imagination. The owner of 3 units in the Fountain Beach Resort, a condo-hotel in Daytona Beach, was not paying Assocaition fees for quite some time. I thought he would sell his units, but he is a wheeler-dealer and always bought and sold himself, so I was sure he would do the same thing this time. He would come to our office (and we are in this building), ask us about the market, what the units were going for, and then shake hands and walk away. I can't say that the guy does not (2 comments)
daytona condohotel: Oceanfront Studio in Oceanside Inn, Daytona Beach Shores Premiere Condo-Hotel - 07/20/09 04:31 PM
Presenting to you this direct Oceanfront Studio in Oceanside Inn, Daytona Beach Shores premiere condo-hotel. For a price which is just half of what the owners paid in 2004, just before the prices started going up. 496 SF unit isthe second largest floor plan. Direct oceanfront north east corner unit with gorgeous view to the ocean and a little view to the north. The unit is diagonallytiled with good quality tile, which is different from the rest of the units in the resort, where you will find carpet. The owners bought it at $135K. They are in distress, and have to (2 comments)
daytona condohotel: Plaza Resort & Spa in Daytona Beach... 4th of July Weekend - 07/04/09 08:08 PM
Plaza Reaort & Spa is the Premiere Condo-Hotel Resort in Daytona Beach. An Orlando couple walked in my office yesterday off a Marquee sign in front of the resort saying "Condos For Sale From $50K". So, I took them to one of the units in Fountain Beach Resort, were my office is, and they were unimpressed. They asked me whether I could show them anything that would impress them. Sure. I suggested that we go and look at Plaza, and I told them that I could not guarantee I culd be able to show them the units, but at least they would get the idea (0 comments)
daytona condohotel: Plaza Resort & Spa in Daytona Beach. Maintenance, Taxes & Insurance... - 07/01/09 01:04 AM
Somehow my posts about The Plaza Resort & Spa got some people confused. I am getting quite a number of requests regarding Plaza Resort, and here are many questions and concerns regarding the Association Fee, Maintenance, Taxes & Insurance. Q. What is the monthly Maintenance (Association) Fee?A. Maintenance Fee is $528.50 a month. There are condo-hotels in Daytona Beach area with nearly half of that maintenance, and where your rental income is not enough to cover maintenance fee and taxes. Q. Does it mean that Plaza Resort & Spa with their higher maintenance would cost you money to pay towards maintenance and taxes. A. No, (0 comments)
daytona condohotel: Got A Short Sale Approved In Plaza Resort in Daytona Beach. Need A Buyer ASAP - 06/09/09 01:27 PM
A buyer made an offer on a unit in Plaza Resort. Short sale, long wait. Suddenly another unit pops up, and she makes an offer on it. It is an REO(Foreclosure), so it moves fast. She now tries to sell her other condo-hotel studio in another property here to get the money to buy the first one, and the Short sale gets approved, and the Buyer can't buy. I can try to make a substitute as the Lender is ready. Very good deal, a South side unit with very good view, light and bright, 372 SF with tiny kitchenette, nice balcony, (1 comments)
daytona condohotel: Fountain Beach Resort. Daytona Beach. What's Cooking? - 05/31/09 11:01 PM
Fountain Beach Resort313 S Atlatic Ave., Daytona Beach. FL 32118 2009 turns to be a very uneventful year fro the Fountain Beach Resort so far. 2 sales at $30K (foreclosure sale) and $50K. There were 3 sales in the whole 2008, so it is not bad in comparison. Or we can say it is as dead as last year. All activity is in the Plaza Resort. Prices are similar and were even better, but you can't compare the properties. We do not have the financials (as this would constitute the sale of securities), but as far as we know, the owners (0 comments)
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