Plaza Resort & Spa in Daytona Beach. April 2011

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

We often see fluctuation in the market, and it is important to tell a trend from a fluke. I was surprised a couple of weeks ago to notice a few units popping up in The Plaza Resort and Spa, a premier condo-hotel in Daytona Beach, for very low price. It looked as if the second wave of those crazy deals was coming back.

We put 2 out of three those units under contract, and I was curious whether that was to continue. It did not. The prices are still getting higher in The Plaza, prompting some of my clients to start playing with the idea of selling what Plazathey bought for such low price a year ago.

Below is the list of units for sale in The Plaza, actually 15 least expensive condo-hotel units, and the prices are going to $359K for pretty much the same.

Check this list; there is no divine logic in it. Unit 420 with no ocean view is number 3 on the list after two units with a very good view of the ocean, and then another identical unit just 2 floors up with pretty much the same view is third from the end, surpassing in price even two direct oceanfront units (For geographically challenged (LOL) – Atlantic Ocean is East).

Altogether there are 29 units for sale in The Plaza Resort & Spa, all of them are studios 372 or 427 sf with no cook top. Not a single unit on line 05 and 09 is for sale at this time, and those are the largest (513 sf) direct oceanfront corner studios with two balconies (one direct oceanfront) and a glass two-burner cook top. Making them best studio units in Plaza Resort & Spa.

I am getting a listing for unit 409 today, and it will be the best unit, especially for a family, in the resort. Still working on the price, though. It is not a distress sale and is not going to be "half price of steal". Check my blogs, I will write about it here on AR shortly.

Shoot me an e-mail if you are interested in The Plaza Resort & Spa or any other condo-hotel or condo in Daytona area or call me 386-405-4408.Units in Plaza Resort & Spa in Daytona Beach in April 2011

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Rainmaker
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Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Jon - the Plaza Resort & Spa sound like a great living option.  It is sounds like something I would consider at this stage in my life with my two daughters grown. 

Apr 28, 2011 12:34 AM #1
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Great report on the latest going on with this building/complex. I'm sure you get lots of hits from these local posts.

Apr 28, 2011 02:19 AM #2
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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

Barbara - it is also a better option in terms of their rental income. It is in very close proximity to our County Convention Center, and even though it does not technically qualify as a convention hotel, it is used like one, so their rates are higher, and occupancy is usually also higher than average in on the Beachside

Apr 28, 2011 02:53 AM #3
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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

Melissa - thank you

Apr 28, 2011 02:54 AM #4
Rainmaker
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Dick and Dixie Sells
Sells Real Estate, LLC - Trinity, FL
Realtors, Tampa Bay Florida Homes For Sale

Jon- We have condo-tels here and I have investors who are making a good bit of income. Sure this one near your Convention Center is a great value! It definitely does beat the interest that the banks pay now a days! Best wishes on your newest listing!

Apr 28, 2011 03:39 AM #5
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Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI RE Adventures

Nice local update, I feel after reading some of your blogs I am getting to know your area pretty well--lol.  Glad to see the low prices are not continuing and they are heading back up

Apr 28, 2011 04:08 AM #6
Rainmaker
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Vadim Zolotarevskiy
FunCoast Realty & Management, LLC - Daytona Beach Shores, FL

It really looks like market is very fluid and changes fast in some pockets and stays the same and even goes lower in others.

May 02, 2011 02:20 AM #7
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Jon Zolsky, Daytona Beach, FL

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