daytona beach condohotel: Understanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos. Safety of your Investment - 08/16/09 04:58 PM
Understanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos. Safety of your Investment is a second post in the series. The first was Understanding Condo-Hotels In Daytona Beach. Condo-Hotels vs. Condos
Today we will look at some aspects of the safety of your investment.
I keep saying the same thing to those who walk in my office. If you can afford a residential condo, it most probably is a better choice.
Condo-hotels are when you can't afford a condo on the ocean, and you want to have a place on the ocean. So far condo-hotels are an affordable alternative to vacation condos. … (12 comments)

daytona beach condohotel: Will Phoenix Rise From Ashes? Tough Luck For Developers of Plaza Resort & Spa In Daytona Beach - 07/22/09 07:28 AM
Tough Luck for developers of Plaza Resort & Spa in Daytona Beach.In September 2008 I posted Daytona Shooreline Hotel Tycoons File for Chapter 11. It was a sad story of a local real estate developer with a vision falling prey to this unforgiving market. Bray & Gillespie, who are behind a number of real estate development and hospitality companies in Daytona Beach area, are controversial figures, and there are many who they angered. I assume there is a reason for that. I do not and did not have any business dealings with them (I, actually, never met Mr. Bray, and once had a brief … (0 comments)

daytona beach condohotel: Got A Short Sale Approved In Plaza Resort in Daytona Beach. Need A Buyer ASAP - 06/09/09 06:27 AM
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 beach condohotel: Fountain Beach Resort. Daytona Beach. What's Cooking? - 05/31/09 04:01 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)

daytona beach condohotel: Can You Really Be Foolproof? - 04/22/09 07:00 PM
Vandals flood 4 floors of Castaways condos -that's was the title of an article published by Anne Geggis in our local newspaper about what happened to Cstaways Beach Resort, a condo-hotel in Daytona Beach Shores
Some pranksters last Friday hit a fire sprinkler head on the 4th floor of a condo-hotel and caused flooding from the forth floor down. It happened at about 11 PM, the front desk employees might not have known where the pump was and how they could stop the flooding, and by the time this all was figured, damage was quite extensive.
The resort was closed, guest … (6 comments)

daytona beach condohotel: Plaza Resort & Spa. Spring 2009 - 04/19/09 08:52 AM
Plaza Resort & Spa is undoubtedly one of only few really classy condo-hotels in the area. The resort started the conversion rather late and the developers sold 2/3 of the units when the sales came to a halt. However, they have paid for $70 million renovation, plus they did not transfer the Association from the developers to the owners, and this is convenient for the developers, as their forte is the hotel operation, and having full control of the property is beneficial for them.
Instead of running monthly meetings and deal with all sorts of weird wannabes, they have a 3-member … (6 comments)

daytona beach condohotel: Oceanside Inn. A Condo-Hotel in Spring 2009. - 04/04/09 04:18 PM
It is April already. Time to check on the Oceanside Inn - a condo-hotel on the Atlantic Ocean in Daytona Beach Shores.
9-story condo-hotel is home to 191-room resort right on the Atlantic Ocean. End of last year was tumultous for the property, but many people did not understand what happened there. And what happened was the control of the  property shifted from a professional management company to the board that is a well intentioned clueless people.
Sales pretty much died in the ceanside Inn. A few short sales in the resort, with double units from $75K, whihc is half of what it cost from the developer … (2 comments)

daytona beach condohotel: Hawaiian Inn. What's Cooking... - 02/24/09 01:39 PM
Hawaiian Inn2301 S Atlantic Ave.Daytona Beach Shores, FL 32118
Here's the  update on Hawaiian Inn, old but very popular condo-hotel in Daytona Beach Shores.
The Property is undergoing the major renovation. This is the biggest job (and, accordingly, assessment), that you get when you are on the ocean. It involves concrete restoration, when the concrete on the balconies and on the walkways of the properties with outside corridor system is replaced.
They jack hammer it, then cut of the rusted metal bars (and for that they have to go inside 18'), so this is an expensive work and it is paid … (4 comments)

daytona beach condohotel: Understanding Condo-Hotels. Taxes- The Achilles Heel. - 02/22/09 08:13 AM
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)

daytona beach condohotel: Understanding Condo-Hotels. Association Fees - 01/31/09 02:20 PM
To read Part 1 go to: Understanding Condo-Hotels. Part I
Maintenance Fee. The simplest but the most confusing issue.
The first question is always about the association (or maintenance) fee. Sometimes I would even get "give me the fees for different condo-hotels and we will make our decision based on that".
On our street smart scale the less the maintenance fee, the better. Let's look into that.
Maintenance fee is a sum of the expenses needed to run the property plus the reserves (not always). Cost of KWT of electricity is the same, cost of gallon of water is the same, cost of labor in the … (4 comments)

daytona beach condohotel: What is Happening with Condo-Hotels in Daytona - 11/15/08 04:47 PM
Condo-Hotel Market is very strange. Presently there are 293 units for sale in Daytona Beach.

This number fluctuates from 292 to 308, so it is pretty stable for the last 10 months, when it dropped from over 350.
however the prices are surprising. Not that much that you can see starting prices from $39,750, which is reminiscent of 2002-2003, it is the price fall in certain properties that was not expected. take Hawaiian Inn. Traditionally a very popular family oriented condo-hotel in Daytona Beach Shores, cnverted at the very end of the 90s with prices from the developer from mid … (0 comments)

daytona beach condohotel: Unit 413 in the Fountain Beach Resort - 11/01/08 05:22 PM
Unit 413 in the Fountain Beach Resort.
313 South Atlantic Ave., Daytona Beach, FL 32118
Middle of the building unit on the 4th floor with good view of the Ocean. Kitchenette with under-counter fridge, microwave and toster. Use it yourself and rent it out when not in use to cover the expenses. On-site Rental management, restaurant and Tiki bar, pool, hot tub and mini-golf. Conferance room for parties or meetings. Close to evrything on the beach. Walking distance to Ocean Walk, Main Street, Water Park, Restaurants, Movies, Boardwalk.
(0 comments)

daytona beach condohotel: Buying a Unit in Oceanside Inn. Questions & Answers - 10/03/08 05:17 AM
Larry saw the listing on Realtor.com. I have sent Larry the information about Oceanside Inn in Daytona Beach Shores, including a few links to the blogs on Localism about this property.
Here's the e-mail from Larry:
"jon,thanks for the information. do you have any idea what the occupancy rate is? what is the split with the resort on rentals? what is the split if i provide the rental? i am very interested in this property. have you any idea what the availability of mortgages is for a condotel? what down payment can i expect? as you can see i have a lot of questions.
thanks"
(2 comments)

daytona beach condohotel: Oceanside Inn, Unit 320 - 09/27/08 05:07 PM
Great deal on this double unit on the North Side of Oceanside Inn. Very good view of the ocean from both units. Floor-to-ceiling windows make it light and airy.
Unit has two separate studios with separate entrances and the door between them. LOWEST PRICED DOUBLE Unit in the building. You can use it yourself or rent it out to help you pay for the bills.
Great property with strong rentals and strong management team. Amenities include pool, Tiki bar and restaurant with bar. Conference rooms could be rented. On-site rental management.
(0 comments)

daytona beach condohotel: Condo-Hotel Studio 514 in Fountain Beach Resort - 09/20/08 04:57 PM
Fountain Beach Resort, Daytona Beach, FloridaCoondo-Hotel in the heart of Daytona's Beachside  

 
If you are looking for affordable alternatives to expensive vacation condos, call me on my mobile: 386-405-4408, or send me an e-mail.
(6 comments)

daytona beach condohotel: Daytona Beach Resort & Conference Center - 09/19/08 06:09 PM

Daytona Beach Resort & Conference Center at 2700 North Atlantic Ave in Daytona Beach is one of the largest condo-hotels in the area with its 322 studios and one-bedroom units. And one of the nicest condo-hotels in  area.
Marble foye, a lot of glass, mirrors, high guality carpet in the hallways, this Condo-Hotels can impress.
With 442 ft on the ocean, the resort sits on 90,000 sf of beahfront in one of the most prestigious areas of Daytona Beach - across the street from Bellair Plaza, the largest shopping center on the Beachside, anchored by Publix Supermarkets. Area of the best … (0 comments)

daytona beach condohotel: Ocean Walk Resort. A Market Snapshot - 08/30/08 04:58 PM
To read about the Ocean Walk Village - a billion-dollar oceanside vacation and entertainment destination place in the heart of Daytona Beach, Florida, click HERE.
Here we are only looking at the resort component. Two towers, one 19 story South tower with overwhelming majority of one-bedroom oceanfront units, some 2 bdr units and even a few 3 bdr units. The North Tower has mostly 2 bdr large units, and about 50 one bdr units. Both towers have more than half as time share and the rest wholly owned condos (or condo0-hotels).
26 condo units are available for sale on Daytona MLS. Price … (0 comments)

daytona beach condohotel: Ocean Walk Village. Daytona's Oasis... - 08/27/08 05:25 PM
Ocean Walk Village - a $1 billion oceanside vacation and entertainment destination place in the heart of Daytona Beach, Florida. The concept came together at the time of stagnation, and there were more than enough skeptics, who claimed it was a failure. There was a seriousl fight as the opposition was against any perks given to the developers. But the city wanted something to start the rejuvenation process. So, they listened, and listened, and listened, but still gave this project a chance.
Located right next to Historic Bandshell, the project incorprorated it in its modern structure and created a unique fusion … (2 comments)

daytona beach condohotel: Hawaiian Inn. Condo-Hotel Market Snapshot - 06/09/08 02:24 PM
Hawaiian Inn
2301 South Atlantic Ave, Daytona Beach Shores.
This just over 200 room resort was built in 1965. Outdoor corridor system. Even thought the association was trying to keep up with the maintenance, the age takes its toll. Last year over 2 months the property could not take rentals because of the construction and maintenance issues. In January the resort was closed for rentals for a bit over 2 weeks.
As a result, the management company terminated their contract. The new management company is in place and is up and running.
The resort is one of the most popular family … (2 comments)

daytona beach condohotel: Harbour Beach Resort. Condo-hotel Market Snapshot - 06/09/08 07:07 AM
Harbour Beach Resort, 701 South Atlantic Ave, Daytona Beach, FL 32118
Built in 1975, the Resort had seen better days. Until 5 years ago we considered it a nicer property and liked to bring our customers there. Then the property started slowly deteriorating, management and maintenance going down the hill.
They did not have luck with the management company, three companies within the last 4 years made a big dent in trust between the onwers and the management. The Board failed to set the goals to preserve the and increase the rentals. It is just mind boggling what can people do … (0 comments)

 
Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) Ambassador large

Jon Zolsky, Daytona Beach, FL

Buy Daytona condos for heavenly good prices

Daytona Beach, FL

More about me…

Daytona Condo Realty, 386-405-4408

Address: 119 S Palmetto Ave., Suite 231, Daytona Beach, FL, 32114

Office: (386) 255-5355

Mobile: (386) 405-4408

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