I have a listing in Ocean Walk (highlighted in yellow). A beautiful resort building with the best amenities in the area. The only real world class resort in Daytona (my personal opinion). By the end of last summer it was the lowest price unit (same price). I had a few showings, but we were slowing down, and we did not have enough steam to get it sold at this price.
Not a problem. The owner is the investor. No financial squeeze here, he can wait for the right number. This season was that season, but during the slow time there came several units on the market, which are significantly less.
It was a time when there were simply no buyers for this product, not a single unit sold. First move came very recently, a 2-bedr unit, priced at $317K, went under contract. That’s a good sign. If this year things move the way we expect them to move, in 3-4 months we should have a contract for the full price. Actually, it is move faster than that, I would suggest the investor to go over $400K.
But hey, who buys today for $299K, will get a heck of a deal. I am looking at these prices, and $330K will soon be a dream price.
Too good to be there long. And it wouldn’t…
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