Ocean Walk Wyndham Resort is by far the best and nicest condo resort in Daytona Beach area. We count it as condo-hotel simply because the minimum rental is one day, and they have the Front Desk running rentals.
They consider themselves condominiums, which legally is correct. But by the same token, any other condo-hotel is legally a condominium, which defines the form of ownership.
Ocean Walk Wyndham Resort consists of 2 buildings with nearly 600 rooms total, but over 350 of units are time-shares, and a bit over 200 are so called whole owners.
Excellent amentities, the best in the area. 19-story South tower built in 2001, and 25-story North tower completed in 2004.
And if you look at sale in the first six months of 2011, all 4 sold one-bedroom units were for less, but it does not mean that today’s $165K asking is crazy. It is not. I repeat, this is an exceptional price if you look at it from the point of view of tomorrow, and now most probably close tomorrow.
It is a bit surprising that prices of units sold in 2012 are even lower than sold prices for similar units in 2011, but, again, it does not mean that $165K is a crazy price. It is a very good price. Next price of $209K is the best confirmation.
It only means that there is not that much inventory in one-bedroom units in Ocean Walk, and whoever is looking for a one-bedroom unit, this is the reality. Only one unit for less than $200,000, and when it is gone, we do not know whether there will be more supply of one-bedrooms for under $200,000.
This is the time when there is plenty of inertia, when seller already got used to the notion of the slow market and are more open to discounting the price and selling for less *see the sales in 2012, that’s what it means), and at the same time the low priced units are getting off the market, and new listings come higher.
Does it mean that there will be no inexpensive units in Ocean Walk? No, it doesn’t. They still can be popping on the market, but there is more pressure, and there will be more buyers jumping on those deals, and bidding wars are not out of the question.
If you like Ocean Walk Wyndham Resort with its world-class amenities, comfortable sizable units facing the beautiful Atlantic Ocean, call me at 386-405-4408.
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