daytona condos: LATEST LENDING RESTRICTIONS FOR CONDOS IN FLORIDA
- 04/11/08 10:58 AM
Just got the news that SunTrust Bank is imposing moratorium on lending for new condominiums in the State of Florida effective, Monday, April 14.
"Due to continued adverse market conditions and the increased overall risk inherent with transactions secured by condominiums in Florida, effective with locks on or after Monday, April 14, 2008, NEW condominiums located in the in the state of Florida will no longer be eligible for financing under any SunTrust Mortgage loan program".
This is about new condos. In addition to that the bank also imposes "Mandatory SunTrust Condominium Project Reviews Required for ESTABLISHED Condominiums Located in the State of Florida"
Do you … (12 comments)
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daytona condos: Oceanside Inn. Congratulations, James Dion!
- 03/29/08 08:34 AM
Actually, he is not really new for the area. James Dion, the new GM of one of the best and still affordable (wonderful combination, isn't it?) condo-hotels in the area is not a novice. Only 6 years in business, but he is rightfully considered one of the strongest GM.
I first met him when he came as GM to Fountain Beach Resort, where we have our office. He came in tumultous times, in the middle of the biggest Daytona event, when the previous management company took away the computers, all reservations, everything. And he kept his cool, within days everything was … (4 comments)
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daytona condos: Stunning views from this 2/2 condo in Oceanfront Aliki Condominiums
- 03/27/08 05:32 PM
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daytona condos: Dear Client (My Imagined Speech)
- 02/06/08 03:12 PM
This is all about real estate. If you think that the night never ends and the sun never comes, that the market is bad, this is not for you.
This is for those, who know that the Ocean has, is and always will attract us, that the Beaches will always charm and fascinate us. This is for those, who understand that even the darkest night succumbs to a rising sun.
This is not about the next president or the next governor, - this is about G-d given things, and therefore this is for those who are smart not to compete with G-d. … (9 comments)
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daytona condos: Marina Grande on the Halifax. Market Snapshot
- 11/22/07 09:05 AM
Marina Grande on Halifax in Holly Hill is half built. Two 25-story towers out of 4 have been built. They have not yet been any closings, the developer is working on finishing touches.
The project came at difficult time with the slowing market, causing delays in completing the project and a lot of troubles for the those who signed preconstruction at the height of the market. Therefore there are a lot of units put under contract by speculators. The time of closing comes close and a lot of them may face the losing their deposit, as many of them can't or … (0 comments)
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daytona condos: Marina Grande on the Halifax. General Information
- 11/22/07 08:04 AM
Marina Grande on the Halifax is a Riverfront 972-luxury Condominium Development in Holly Hill. Located just off the Seabreeze Bridge, the complex includes 200-space Marina on the Intracoastal. Parking garages, some commercial space, and of course, 4 magnificent 25-story towers.
The units laid out an an angle providing for terrific views of the river and the ocean. Each floor consists of 2 direct riverfront 3 bdr/3 bath units, 2 three bdr/three bath units on the opposite side of the building with river, ocean and city views, and 6 two bdr/2 bath units with river views.
Gorgeous project, but not the … (2 comments)
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daytona condos: Hawaiian Inn Oceanfront Resort
- 11/21/07 08:45 AM
Hawaiian Inn Oceanfront Resort is a 208-room resort built in 1965. Very popular and enjoys repeat customers, coming there for years and years. The resort was converted to Condo-Hotel in 1999-2000. This is the most family-friendly area of the "World's Most Famous Beach." The Hawaiian Inn beach resort offers its guests efficiencies and one-bedroom or two-bedroom suites, most with balconiesoverlooking the Atlantic Ocean in Daytona Beach.
Though this is an older property, it is well maintained. Good management provides for better than average rentals. Very nice amenities, with pool, gift shop, restaurant with the only Luau show in the area.
If you … (0 comments)
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daytona condos: To Help Digestion And To Prevent Choking
- 11/14/07 06:42 AM
I responded to anonymous e-mail request for the info on a particular Listing. This happens quite often. It puts me in a tough situation: I do not know anything about the person, who sent me the e-mail, so I understand that they do not want to open up. Fine, they are protecting their privacy, but at the same token I can only provide general information.
That's exactly what I did. I sent the list of 35 properties, which, in my mind, were the best deals in certain price range in that area. Next day I sent a follow up e-mail asking … (4 comments)
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daytona condos: Buyers waiting for a miracle, or they love running after the locmotive
- 11/13/07 01:46 PM
A few weeks ago I got an e-mail from a prospect in NC. He found me on the Internet, so I was already happy. I answered, he called and we discussed a lot of things. I forwarded him information, listings, wrote crazy long e-mails answering endless questions. I get e-mails quite often, send people information and usually never hear from them again but to my surprise, Mike sent me an e-mail on Friday and asked to plan showing him some condo-hotel units on Sunday. I already scheduled a business meeting with a bright young investor in Gainesville, who wanted to talk to us regarding … (9 comments)
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daytona condos: Development. What is the cost per sq. ft.
- 11/09/07 12:49 PM
Need some help. Is anyone has experience working with the condo developers?
I am trying to find out the cost of a sq. ft. in a mid-rise luxury building. With granite countertops, stainless steel, nice tile, high end finishes, exceptional quality construction. I think it is around $180-$200 psf, but I am not absolutely sure.
Knowing land values in our area on the Ocean, I would be able to calculate what the prices of the condos be when the market starts heating up, and developers get back to putting beautiful condo building on these ugly empty fenced sites, dotting the shore line … (4 comments)
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daytona condos: Daytona Inn Beach Resort Market Snapshot
- 10/29/07 05:25 PM
Daytona Inn Beach Resort219 Atlantic AveDaytona Beach, FL 32118
Daytona Inn Beach Resort is centrally located Daytona Condo-hotel with just over 150 rooms. The property has both studios and suites ranging in prices as of October 29 from $75,900 for a 375 sf studio without much view to a 700-sf suite for $235,000.
From January 1, 2007 to date there were only 7 units sold ranging from $75,000 for a studio and $167,000 for a suite.
The market is slow, and this is not uncommon today.
Looking for information about condo-hotels? Check www.DaytonaCondoHotel.com or call me at 386-405-4408
We are condo-hotel gurus
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daytona condos: Daytona Inn Beach Resort
- 10/29/07 05:13 PM
Daytona Inn Beach Resort is located at 219 South Atlantic Ave. It is a north east corner of the intersection of International Speedway Blvd (SR 92) and Atlantic Ave. This is a dream location, right on the beach, steps to Boardwalk, Ocean Center, Peabody Auditorium, Main Street with all the event and activities within walking distance.
4-story Hotel was built in 1962, converted to a condo-hotel in mid 90s. 150+ rooms are 60% studios and 40% suites. Units 1 to 8 do not have much of a view, no balconies, walkway. Units 9 to 25 are direct oceanfront with large balconies, and the … (0 comments)
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daytona condos: Do you believe in miracles?
- 10/16/07 11:12 AM
Coming from an atheist country, where you do not believe in G-d or Satan, and being inquisitive as I am, it is difficult for me to accept anything that I can't figure out. My 15-y.o. grandson hates showing me the tricks, as while my wife drops her jaw, I am trying to figure it out, and I succeed half of the time (he is just getting better).
And with all that in my not that long real estate career, I have seen two clients so far, who knew their future property in such detail, that it was mind boggling.
We worked with a lady, … (14 comments)
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Just got the news that SunTrust Bank is imposing moratorium on lending for new condominiums in the State of Florida effective, Monday, April 14.
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