daytona beach condohotels: The Plaza Resort & Spa. December 2018 - 12/16/18 08:42 PM
The Plaza Resort & Spa
Got a phone call from a New Yorker. She read my old blog from 2008 about The Plaza Resort & Spa. Wow, that’s a very old one.
But The Plaza is still standing, and, funny enough, the units in this condo-hotel are unbelievably affordable. Yes, they are not as they were at the lowest point, but, honestly, they are again very close to the lowest point. Below is the table showing you resales of units in the resort since they have converted it to a condo-hotel in 2005-2006. This is the reason there were so few resales in … (4 comments)

daytona beach condohotels: Don't Say "No" To Me - 05/09/18 07:17 AM
– I want to live in a condo-hotelThe call makes me uneasy. It is always the story of a condo-hotel unit, that the caller loves because of the price, and now wants to use it as her/his primary residence. Where else can you get a place right on the ocean for under $50K?
Is it a good idea? Condo-hotels are not for living there full time and there is a reason for that.
I am telling her that there is a reason why condo-hotel units are so inexpensive…
I am telling her that the units are not for use as the primary residence…
I am telling … (7 comments)

daytona beach condohotels: Daytona Beach Resort & Conference Center. Market Snapshot. April 2018 - 04/30/18 07:27 AM
Daytona Beach Resort & Conference CenterWith 322 rooms Daytona Beach Resort & Conference Center is one of the biggest condo-hotels in the area. It is one unit short of The Plaza’s 323 room.
While they are comparable in size, these are very different condo-hotels, but both are at the top of the chain.
The resort changed the management team in Spring last year. A Maryland-based management company, Coakley & Williams, is now in charge of the resort. Libby Gallant is the new General Manager.
The new management came a few months before Hurricane Matthew, which wrecked a lot of damage to the resort. First, … (1 comments)

daytona beach condohotels: How's The Market? The Plaza Resort & Spa - 03/27/18 05:41 PM
I am posting about Plaza quite regularly. This one is about the inventory, sales, and some fascination with predictions.
Active units There are 13 units for sale in The Plaza Resort & Spa.
The lowest priced ocean view unit is $45,900. There is another unit for sale for a bit less than $50K making a total of 2 units under $50K.
6 units between $50K and $60K.
Then there are 3 units in the $60s, one for $75K and one for $99,900.
If you are trying to make sense of these numbers, figuring that the unit for $99,900 is somehow better … (0 comments)

daytona beach condohotels: What’s New in The Plaza Resort & Spa? - 03/21/18 09:19 AM
The Plaza Resort & SpaI attended the annual meeting of condo owners Association at the Plaza Resort & Spa recently. I communicate with a lot of owners, and I feel a lot of frustration. But I wanted to see and hear the Board members, the management of the resort.
Plaza has suffered a serious damage from hurricane Matthew in October 2016. 12th and 14th floor got a lot of water damage and were out of rentals for many months. The front of the resort was ripped off exposing the service elevator shaft. Just very recently the tower was finally dressed up.
I do … (2 comments)

daytona beach condohotels: Plaza Resort & Spa. Market Snapshot. April 30, 2016 - 04/30/16 03:08 AM

There seems to be more activity behind the scenes in The Plaza Resort & Spa, that what we can see on the surface.
Looks like timing is in Plaza’s favor, tourism in Central Florida is on the rise, and they might be on the brink of finally making some sense and break even, as being in the red financially for the last couple of years did not make owners happy.
To the point, that there are owners who are suing the current owner of commercial space and 100 unsold units Arbor Capital and the Rental Management company, Boykin, chosen by Arbor capital. I … (4 comments)

daytona beach condohotels: Rare Real Estate Animal… - 12/15/13 01:18 PM
 Rare Real Estate Animal…or Tiny Bits of Vacation Paradise for Heavenly Good Prices...
 Yes, here in Daytona we have this rare real estate animal, which is a crossbreed of commercial (hotel) and residential (a condo), seasoned slightly with investment (rental income), minus bad luck and Special Assessments… The result is a  CONDO-HOTEL.
Tell me it is not confusing…
I think about them as tiny bits of vacation paradise for heavenly good prices. This non-scientific definition points to three of its very important characteristics: size and price, which both are rather small, and vacation use (short term stay).
So, if you … (46 comments)

daytona beach condohotels: Am I Missing a Zero? - 10/31/13 02:59 PM
The door opens and a couple in the early 40s walks in. They are smiling; they just saw something very funny. They tell us that we have something very wrong on our marquee sign at the resort.
I go out, carefully check the sign with “condos for sale from $35K” and do not find anything wrong. I return and tell them that I did not find anything wrong with the sign. They are surprised, look at each other and then say “it is missing a zero. Shouldn’t it be $350K?”…
No, $35K is correct. Heck, if we could be selling them … (4 comments)

daytona beach condohotels: Glimpse at Condo-Hotel Market in Daytona Beach Area. October 2013 - 10/20/13 12:45 PM
Condo-hotel market, like the rest of real estate in Daytona Beach area, is in slow mode now. It is a seasonal change, happens every year. After Labor Day things start moving slower, inventory is increasing and even more is yet to come on the market before it  starts warming up again in March, like it was happening for the last two years.
The pace of supply has not really changed, but slower sales cause the growth of inventory. It affects the prices, Not that they are falling; they are slowing the growth and getting flat.
It is quiet in Daytona, … (3 comments)

daytona beach condohotels: Which Condo-Hotel to Buy For Less Than $50K - 05/11/11 12:29 PM
I had an interesting conversation on the phone with a high school teacher, who was interested in condo-hotels in Daytona Beach area.
She has read my blogs, and was very familiar with the issues. Price, especially since these are cash buys, was an important parameter. So, what would I buy if I were in her shoes?
I promised that I would look at condo-hotels on the market and pick 10 best under $50K. I went to MLS and put the list together trying to balance between the price and other considerations.
I came one short of 10. Only nine units made … (6 comments)

daytona beach condohotels: Oceanside Inn - Daytona Beach Shores Condo-Hotel - 08/22/10 07:32 AM
I have a customer, who wanted to see a few units in Oceanside Inn – a premier condo-hotel in Daytona Beach Shores.
It is late Sunday morning. There is a line at the  Front Desk. Wet skin all over. Guests in swimsuits, which is purely Floridian. People went to the Beach and the pool to swim for the last time before leaving Daytona Beach Shores, and women are wrapped in towels waist down, and it looks like colorful summer skirts.
This is the end of a very busy season this year, and GM James Dion is on a week’s vacation as … (4 comments)

daytona beach condohotels: Direct Oceanfront One-Bdr Condo in Daytona Beach Shores - 06/13/10 05:15 AM
This is my new listing - direct oceanfront one-bdr condo in Daytona Beach Shores
There are only four condo units on the ground floor of Oceanside Inn, a 191-room premier Daytona Beach Shores direct oceanfront resort converted to a condo-hotel in 2003-2004.
All four ground floor condos are direct oceanfront one-bedroom units. There are several advantages of being on the ground floor:
·       14’-high ceilings
·       Your own door right to the beach
·       They are hooked to AC system serving first floor and there are not noisy wall AC units
·       These units are equipped with full kitchens
Except for … (4 comments)

daytona beach condohotels: Changes in Plaza Resort & Spa - Daytona Beach Condo-Hotel - 02/19/10 11:40 AM
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 … (0 comments)

daytona beach condohotels: Taxes in Plaza Resort & Spa, a Premier Daytona Beach Condo-Hotel - 01/28/10 07:44 AM
Below is the e-mail that I have received from a gentleman buying an oceanview unit for $45,000 in Plaza Resort & Spa in Daytona Beach. I thought the question could be of interest to anyone buying a condo-hotel (and not only a condo-hotel) in Daytona Beach area.
What is the tax rate. Are the units at the Plaza taxed on what you pay for them ...or a higher amount. What do you think unit xxxx will be taxed at if it sells. What is it currently taxed at?
Though what you paid for a property in Florida significantly affects your tax, it is … (1 comments)

daytona beach condohotels: Hawaiian Inn in Daytona Beach Shores. Market Snapshot - 01/12/10 05:07 PM
Hawaiian Inn2301 S Atlantic Ave.,Daytona Beach Shores, FL 32118
 Hawaiian Inn is going  through roubled times with their major concrete restoration, which could not happen at a worse time. 

Economy is suffering. Daytona is empty, and with it the hotels and condo-hotels hardly have many cars in the parking lots. 
The restoration takes additional toll when you have to pay special assessments and there is no income coming both because of the economy, and the construction, blocking access to sizable number of units at any given time.
 
Hence the prices, unseen after units were sold by the developer in 1999. … (0 comments)

daytona beach condohotels: Condo-Hotels in Daytona Beach Area. What is Happening - 10/04/09 04:59 PM
Condo-Hotel market in Daytona Beach area is slow, and it is not really surprising. Condo-hotel market goes hot after the residential condo market is on a rise for quite some time, which creates a serious gap between the prices, making condo-hotels the only option to be on the  ocean for reasonable price. This is the last property type to appreciate and the first to start falling when the market winds change.
Overall market conditions have warmed up in the area, and it is reflected even in the Condo-hotel segment. From over 300 condo-hotels units for sale before January, we are to … (6 comments)

daytona beach condohotels: Oceanside Inn in Daytona Beach Shores. Premier Condo-Hotel Resort - 09/15/09 05:47 PM
Time for the update for Oceanside Inn in Daytona Beach Shores. Premier Condo-Hotel Resort Oceanside Inn is one of the best condo-hotels in Daytona Beach Shores. This 192-room oceanfront resort was the last conversion before the price hike, therefore it was holding the  ground pretty well, but economy sliding down caught up with it and today you can find deals for way less than what they were sold by the developer. The resort is well set up for a condo-hotel. It is not surprising. John Rainey, the developer, is probably the most experienced condo-hotel conversions developer with Oceanside Inn being his … (4 comments)

daytona beach condohotels: Plaza Resort & Spa in Daytona Beach. Drastic Changes in Price - 09/13/09 04:56 PM
Plaza Resort & Spa in Daytona Beach. Drastic Changes in price. The Resort is at 600 North Atlantic Ave. This is a premier condo-hotel in Daytona Beach.
Converted in 2005 at the peak of the market it was an immediate hit, which died as quickly with the first cool wind in the market. I guess there was room for developers to adjust the price and sell another 20-30 units, but they have sold 2/3 at great prices, and they were not desperate, and they, as the rest of us, did not expect that this was a long drought ahead.
However, the new market … (2 comments)

daytona beach condohotels: The Only Condo-Hotel in Ormond Beach - Symphony Beach Club - 08/22/09 07:57 AM
The Only Condo-Hotel in Ormond Beach - Symphony Beach Club
Symphony Beach Club is the only Ormond Beach condo-hotel. Its address: 453 South Atlantic Ave., Ormond Beach, FL 32176
Built in 1985. 32 units total. Units are generally small, ranging from 297 sf, and up, with one stack of the largest studios - 417 sf. Have Murphy beds.
Maintenance Fee: 295 a month. 50/50 split of rental income if rented with the Front Desk.
For those who want some home cooking, there are modern fully equipped kitchens available. Oceanfront pool.  Also on-site is a BBQ grill and exercise room. On-site management. … (4 comments)

daytona beach condohotels: HOW TO BUY A UNIT IN PLAZA RESORT & SPA IN DAYTONA BEACH. TALKING ABOUT VALUES - 05/12/09 02:39 PM
This is now a daily occurrence. I get e-mails or calls from people who are interested in Plaza Resort and Spa, a premier Daytona Beach condo-hotel. They are asking how to buy a unit in Plaza Resort & Spa in Daytona Beach. Lets start talking about values.
Prices start from high $40s, nice 4-star resort, and with prices like these it beats any other condo-hotel in the area.
The problem is that my callers think that these prices are the market values in Plaza, and nearly everyone thinks that in this market they can get things for half of the price.
(9 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

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog