Daytona Beach. Fountain Beach Resort. September 2012

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

Time to visit Fountain Beach Resort in Daytona Beach.

Looks like Fountain Beach Resort is more in line with a normal market tan many other condo-hotels and condos in the area. For a 148-room resort 11 units available for sale per our local MLS is a healthy number.

Fountain Beach ResortSince August 15 to today there were 3 units sold. This is a darn good number, and actually, it is higher than average number of units sold in one month in the Fountain Beach Resort

Many other condo-hotels and condos have much lower inventory percentage-wise. Why at the same time properties, which are half a mile apart have so different number of available units for sale is beyond me.

I know that real estate is local, but it is difficult to understand how it can be different in the same location and, basically, every other thing being the same… but it happens all the time.

So, no, not many changes in Fountain Beach Resort. Prices are a bit higher, but it is because of the attrition. Lower priced units are sold, but there is still one unit for less than $40K. Price for one-bedroom units went up, and the lowest now is $69,900. Still incredibly good price, but at least we no longer see 50s like in last two sales of unit 202 and 302.

Overall we still see that the condo-hotel market is slowly improving. As well as the rentals. Business is also a bit better.

And we see fewer short sales and foreclosures.

Call me if you are looking for condo-hotels or residential condos in Daytona Beach area. 386-405-4408.

Follow the link to learn more about condos and condo-hotels in the area

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Rainmaker
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Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Jon, what is the property tax on these condo-hotel units like? Are they taxed at a commercial rate or a residential rate, or is there some sort of blended tax rate?

Sep 17, 2012 11:33 PM #1
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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

Malcolm - as far as i understaand, we have the set millage rate (by the County) and the Cunty also sets the Taxable value, which you multiply by the millage rate.

Millage rate for this area is 24.75520 ($24.76 per $1,000 value), and taxable value for a studio in 2011 was about $23,000. So taxes willbe about $570 a year.

this depends on the markets and this number was much higher in 2006 (about $1,900).

Sep 18, 2012 05:29 AM #2
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