To the Owners of Condos in MG on the Halifax

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

MG on the Halifax (formerly Marina Grande on the Halifax) got a new owner. It is great Marina Grande on the Halifax - Daytonanews for the development. Finally there are people who take the fate of this development to heart, who are there not just to flip the units and walk away with money, but who have the vision, and who would see to it that the other 2 towers are built, and all the amenities as per initial plan are there. After all t he uncertainty, we now know that this beautiful complex will not be circumcised like so many other projects in Florida, that succumbed to the slower market.

But how does it affect those 72 owners who already own units there?

There are 414 unsold units for sale. The new prices start from $187,500. A few years ago this would have been a terrific price, and there would be a long line of people eager to buy. However, even today it is a great price. Maybe the lines are not going to be as long, but these prices are real.

Recent few resales in MG were very low priced, but they were foreclosures and short sales snatched by cash buyers.

 

Follow this link to my new Marina Grande site for More MG on the Halifax News and pricing...

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Rainmaker
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Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

30 years ago, I rented several large high-rise condo buildings in Pearl City, Hawaii for Castle and Cook * worked well for the owners as the building had occupants and amenities and the units were sold after they became vacant from their second and third tenant turnover

Mar 18, 2011 08:56 PM #1
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Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Jon, that sounds like good news, like people who are not afraid, who know what they are doing, who have faith in the future have purchased the project!

Mar 18, 2011 11:39 PM #2
Rainmaker
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Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
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And I hope they choose you, Jon, to be their listing agent. You have such a way with words -- and your passion shines through in everything you do.

Mar 19, 2011 03:58 AM #3
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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Thanks for the update on this building Jon. I hope your prices have finally settled down for the sake of the current homeowners.

Mar 19, 2011 08:47 AM #4
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1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Jon,

Don't you just love it when a new owner WANTS to own the development and not just flip it?  Developments need stability to really do well and give individual owners the confidence to buy units. 

Nicely done.. love the photo.

Mar 19, 2011 02:22 PM #5
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Jon

i remember my niece calling me from Florida telling me she had been in line all day and the longer she was in line the higher the prices became.. She finally had to get out of line because the price became so high she could not afford to buy ..Times have sure changed

Helpfulhannah

Mar 19, 2011 03:44 PM #6
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Wallace - I thought the new owners would consider somethhing like this, but they insist that they will not compete with the buyers, and would let the  rentals to be only for the investor buyers.

I thought that until they sell off 414 units there would  be no real competition, but the owners are the owners.

Mar 19, 2011 06:34 PM #7
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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Andrea - you are right. This is the sign that time change. A welcome sign

Mar 19, 2011 06:35 PM #8
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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Elizabeth - the owners are from Miami and they do not look at locals. That is the theme of my next blog, I think there it is like a bright lamp and beautiful betterflies are flocking to the light... but this is not them, but ants who do the work

Mar 19, 2011 06:39 PM #9
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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Gary - looks like the prices are right on the money. The only question is how fast it will be selling. The faster, the better, then two more towers would come, and it would be a statement of the changing times

Mar 19, 2011 06:41 PM #10
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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Judi - that's true and that's wxactly why I thought that thhis group winning the bidding process was the best thing happening to the development and to Daytona. They have the chutzpah and the vision, and, what is also important, the money to do it.

Mar 19, 2011 06:43 PM #11
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Hannah - all our office and my daughter were standing overnight in line waiting for  the start of selling a condo project here, and when they started, the best units were all reserved for the employees. you can chhose any unit there now, and pay way less...

Time is different

Mar 19, 2011 06:45 PM #12
Rainer
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I Pike
Ormond Beach, FL

Go for it, Jon. It is a large complex, and it is worth concentrating upon

Mar 20, 2011 09:07 AM #13
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