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 how high their $528.24 maintenance fee would go.
Any guesses?
OK, it is now $428.22. You were wrong (and I am pretty sure you thought it would come higher). Yes, I typed it correctly. And if I haven't, then it is $100.02 less than it used to be.
Wow.
I am not hyped with this reduction though, but this is for another blog, another time, sine die.
For now here's the table with the 30 (out of 37 for sale) least expensive units in Plaza Resort & Spa. If you are watching my blogs, you may notice that the prices are higher than they used to be. Also, some of the units shown as Active on MLS are in reality under contract. 2 units on this list are under contract with my clients. I do not know why the listing agents keep them as active, but I know that at least another unit there is under contract not with my clients.
| Unit # | Size | Price | View | Exposure |
| 319 | 372 | $42,900 | yes | South |
| 519 | 372 | $44,900 | yes | South |
| 728 | 427 | $48,900 | no | West |
| 628 | 427 | $50,000 | no | West |
| 804 | 372 | $51,900 | Yes | North |
| 1419 | 372 | $54,900 | Yes | South |
| 420 | 372 | $59,000 | no | North |
| 1216 | 372 | $59,000 | yes | South |
| 704 | 372 | $60,000 | yes | North |
| 210 | 339 | $65,000 | yes | South |
| 1117 | 420 | $79,500 | yes | South |
| 504 | 372 | $82,500 | yes | North |
| 403 | 327 | $89,900 | yes | North |
| 1014 | 372 | $89,900 | yes | South |
| 816 | 379 | $95,000 | yes | South |
| 334 | 427 | $98,750 | yes | East |
| 620 | 372 | $138,900 | no | North |
| 310 | 372 | $160,000 | yes | South |
| 917 | 372 | $178,900 | yes | South |
| 325 | 427 | $179,000 | no | West |
| 636 | 427 | $189,000 | yes | East |
Here are units sold in Plaza Resort & Spa in 2010. It is still quite active, but these are deals conceived in 2009. I think the activity in Plaza is subsiding, and whoever was thinking about buying there would have harder time to do it. Out of several offers that I made on behalf of my clients and all of them were higher than asking price, we did not get a single unit. We were outbid on all of them. This tells you that Plaza is most probably going to be more expensive and more difficult to get. Well, all holidays end one day, and Plaza's $300K-$400K+ units selling for under $50K were like Christmas miracle. Whoever bought at that time, congratulations. I do not think it would ever be as cheap as it was.
When you decide to capitalize on a hot market, remember me. I will be happy to sell your unit in Plaza Resort & Spa in Daytona Beach for a quater million dollars or more.
| Unit # | List Price | Sold Price | Date Sold | View | Exposure |
| 528 | $34,900 | $31,000 | 1/29/2010 | No | West |
| 426 | $39,000 | $33,000 | 1/22/2010 | No | West |
| 1407 | $59,000 | $69,100 | 2/10/2010 | Yes | East |
| 207 | $59,900 | $59,900 | 2/11/2010 | Yes | East |
| 334 | $100,000 | $85,000 | 1/9/2010 | Yes | East |
If you think that with Plaza Resort & Spa in Daytona Beach is going to where it should be, and this is the end of the condo-hotel market, it may still be not. There are other resorts getting to the front line in terms of deals. At least for now.
I am sure we all know the definition of a great deal.... it is one, that sells before you have time to think (LOL). If reading about great missed deals is not your favorite pastime, call me 386-405-4408.
And check our new baby: www.BestDaytonaDeals.com
Let me know what you think. Of course, it is just a baby, and is growing.
Thank you
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