Hawaiian Inn is in the middle of remodeling. Time came for this condo-hotel in Daytona Beach Shores to do the concrete restoration of the resort, which is there since 1965. 45 years until concrete restoration is not bad, but it does not make the life of owners there easier. Special Assessments dealing with the concrete restoration in Hawaiian Inn came at the worst time, when even maintaining units is a challenge for some owners. The resort tried to do it in installments, but it is still not easy. Initial $3,000 was followed with 12 monthly installment of $350 a month (in addition to a $500 monthly Association fees), then this year they set another Special assessment paid in 12 monthly installment of $390 (but Association fee went down to $450 a month). While this assessment is still in ... 06/01/2010

Special Assessment for $3,600 is the last in the series of assessments for concrete restoration that hit a popular Hawaiian Inn – a Daytona Beach Shores condo-hotel. Hawaiian Inn, built in 1965, added the fifth floor 9 years later in 1974. It was fending off the Special Assessments for as long as they could. Their maintenance fee was always higher than in comparable resorts, and they were managing to avoid Special Assessments longer than any other condo-hotel.     When the time came, it was, as luck would have it, at the worst possible time. Money has not been an issue for quite some time, but when the time came, there is no money. And the project required a lot of money because of its size – over 200 units in the first place, and the fact that Hawaiian Inn is an outside corridor system... 05/26/2010

Oceanside Inn, a premium Daytona Beach Shores condo-hotel (or hotel condo, if you wish to call it this way) was resisting the fall of the market for a long time. When Plaza Resort & Spa was selling for $30s and $40s, Oceanside Inn maintained its lofty status… but you can’t swim against the current for two long… you start drowning. Units are in different buildings but in the same economy, and are “samely” affected. There are 9 units currently offered for sale in Oceanside Inn on MLS. This is a very telling number, there were close to 40 just 2 years ago. This is a huge drop, and this is the lowest number since the high market of 2005-2006. Logically, we might see the increase in sales prices if this inventory decreases even by 2-3 units. That’s how it was last time, that’s how it going t... 05/20/2010

Friday morning started with a press-conference in the Conference room of Oceanside Inn, a Daytona Beach Shores condo-hotel.It marked a significant event for condo associations in Central Florida. A week ago Judge Graham appointed David Ryder from Coral Springs, FL to be a receiver after granting blanket receivership to Oceanside Inn Condo-Owners Association. Attorney for the Association Jason Harrof Jason L. Harr, P.A. explained that this was not the first such court decision in the state of Florida. Receivership has already been granted in Lee, Broward and Palm Beach counties, but this is the first in Central Florida, and it sets the precedent for other condo-owners associations. Oceanside Inn was struggling with non-payment of Association dues for quite some time. They have not been a... 05/01/2010

Hawaiian Inn Resort 2301 South Atlantic Ave., Daytona Beach Shores, FL 32118 Hawaiian Inn Resort is a popular resort in Daytona Beach Shores. It has been converted to condo-hotel a decade ago and since then enjoyed quite a popularity among both owners and guests. Hawaiian Inn was built in 1965 as a 4-story hotel. 9 years later another floor was added. The resort has maintained higher than others maintenance fee to avoid Special Assessments, and were quite successful for a number of years. But maintenance itself could not sustain an older building and eventually they were forced to start a major concrete restoration work. The resort has completed the first two phases of the repairs. Concrete restoration is completed on the North Wing and is nearing completion on the South Wings. The the ... 05/01/2010

Daytona Beach Shores celebrated its 50th anniversary this week, in a 3-day long celebration of music, dancing, food, drive-in movie, and more family fun.  Incorporated in 1960, the city was organized by local business leaders who wanted a smaller community than Daytona Beach. The city grew rapidly in the 1970s and 1980s, and now about 80% of the residents live in high-rise condos along the Atlantic. A resort and retirement community, the city has no schools or manufacturing industry, but caters to visitors year-round with miniature golf courses and other family entertainment, including a private par 3 golf course and tennis club. According to the latest census figures, the city has about 5,500 residents. Interested in a condo in Daytona Beach Shores?  Call or email me.  There are some g... 05/01/2010

Daytona Beach Shores celebrated its 50th anniversary this week, in a 3-day long celebration of music, dancing, food, drive-in movie, and more family fun.  Incorporated in 1960, the city was organized by local business leaders who wanted a smaller community than Daytona Beach. The city grew rapidly in the 1970s and 1980s, and now about 80% of the residents live in high-rise condos along the Atlantic. A resort and retirement community, the city has no schools or manufacturing industry, but caters to visitors year-round with miniature golf courses and other family entertainment, including a private par 3 golf course and tennis club. According to the latest census figures, the city has about 5,500 residents. Interested in a condo in Daytona Beach Shores?  Call or email me.  There are some g... 05/01/2010

Daytona Beach Shores celebrated its 50th anniversary this week, in a 3-day long celebration of music, dancing, food, drive-in movie, and more family fun.  Incorporated in 1960, the city was organized by local business leaders who wanted a smaller community than Daytona Beach. The city grew rapidly in the 1970s and 1980s, and now about 80% of the residents live in high-rise condos along the Atlantic. A resort and retirement community, the city has no schools or manufacturing industry, but caters to visitors year-round with miniature golf courses and other family entertainment, including a private par 3 golf course and tennis club. According to the latest census figures, the city has about 5,500 residents. Interested in a condo in Daytona Beach Shores?  Call or email me.  There are some g... 05/01/2010

Daytona Beach Shores celebrated its 50th anniversary this week, in a 3-day long celebration of music, dancing, food, drive-in movie, and more family fun.  Incorporated in 1960, the city was organized by local business leaders who wanted a smaller community than Daytona Beach. The city grew rapidly in the 1970s and 1980s, and now about 80% of the residents live in high-rise condos along the Atlantic. A resort and retirement community, the city has no schools or manufacturing industry, but caters to visitors year-round with miniature golf courses and other family entertainment, including a private par 3 golf course and tennis club. According to the latest census figures, the city has about 5,500 residents. Interested in a condo in Daytona Beach Shores?  Call or email me.  There are some g... 05/01/2010

Daytona Beach Shores celebrated its 50th anniversary this week, in a 3-day long celebration of music, dancing, food, drive-in movie, and more family fun.  Incorporated in 1960, the city was organized by local business leaders who wanted a smaller community than Daytona Beach. The city grew rapidly in the 1970s and 1980s, and now about 80% of the residents live in high-rise condos along the Atlantic. A resort and retirement community, the city has no schools or manufacturing industry, but caters to visitors year-round with miniature golf courses and other family entertainment, including a private par 3 golf course and tennis club. According to the latest census figures, the city has about 5,500 residents. Interested in a condo in Daytona Beach Shores?  Call or email me.  There are some g... 05/01/2010

Peck Plaza Condominiums in Daytona Beach Shores If you’ve ever visited Daytona area, you would recognize this building in Daytona Beach Shores immediately. This round oceanfront tower 29-storey high built in 1974 by Ed Peck Sr. was the tallest building on the East Coast of Florida north from Miami. Ed Peck Sr. with his family has developed quite a number of condominium high-rise buildings that dot the Beach in Daytona Beach Shores. It is still the tallest building in Daytona Beach Area. The top floor is a restaurant rightfully called Top of Daytona. 6,705 sq. ft. restaurant takes the whole floor and has an elevator for their use, an office and a walk-in cooler on the ground level. You can only imagine the views from there. When built, prices were from high $40s for a one bedroom unit to... 04/07/2010

Oceans Grand Condominium in Daytona Beach Shores Built in 2005, Oceans Grand avoided fully or partially the fate of their later counterpart, like Marina Grande on the Halifax. Yes, it is a real estate bubble baby, but Oceans Grand skipped the biggest danger - units not being sold. Not only they have been able to sell all the units, they never discounted them, and, actually were selling with at least two increases after the initial price. And after that the units went on a still strong market and there were a few good resales, before the market tumbled down. Started in 2003 with reservations for about $249,900 for 2 bdr plus den on middle floors (a bit less on lower floors and higher on top floors), it got its first rise in pre-construction price in just a few months, and, like on hormon... 04/06/2010

Towers Grande Condominiums in Daytona Beach Shores Dimucci is a very recognizable name in Daytona Beach area. In the beginning of 90s this Chicago developer started constructing condos in Ponce Inlet and built 9 of them in a decade, and then a taller Towers Ten in Daytona Beach Shores came  in 2001, followed by 16-story Towers Grande in 2004, and wrapped up with his latest Daytona Beach Shores Condo: Dimucci Twin Towers, completed in 2007. Later developments before Twin Towers, proved to be perfectly timed, and they rode the rising Real Estate surf to the fullest. Condo units not only appreciated greatly during the construction period creating a waive of back to back closings when completed to acommodate those who were selling without ever getting a key... and making good money on the p... 03/31/2010

Buying A Condo-Hotel In Oceanside Inn in Daytona Beach Shores It is time to do the update on what is happening in Oceanside Inn, a condo-hotel in Daytona Beach Shores. I would actually say that this is the best condo-hotel in Daytona Beach Shores. And though it is not a new building, of all condo-hotels, this one got the most extensive renovations at time of its conversion in 2003. 2009 was a very slow year for Oceanside Inn. There was only one sale. We worked with the Buyer in the transaction. 2010 is going to be a much more active year. 2 Units already closed in 2010, one of those was our listing. There is also one listing, which is pending. A short sale, where we are working with the Buyer. There are also 3 contracts that are getting last signatures, and will be changing the status t... 03/29/2010

When the Real Estate market in Daytona Beach area was basking in the sun and money, we got some nice condominium buildings popping up on the self proclaimed Most Famous Beach in the World. New developers came to town, new ideas made waves, new levels of luxury got realized in several condominium projects that made it into success... One of those is St. Maarten, the second building in Daytona Beach Shoresby Doug Cook Development. His foray into this market brought, besides fancy Caribbean names, brought a new level of luxury that we did not see here before. His first building was St. Croix, St. Maarten followed in 2006, and then came St. Kitts... I always thought that for the authenticity, Doug Cook could have called one part of the building St. Maarten, and the other St. Martin (LOL), b... 03/11/2010

Oceanside Inn in Daytona Beach Shores is one of the best condo-hotel resorts in the area. I wanted to write "affordable", but today there is no strict distinction, as you can find deals with similar prices in those, which were considered expensive just a few years ago, like The Plaza Resort & Spa. The resort is a combination of pretty good physical shape, not the worst condo-owners association (which is a compliment), and one of the best rental management (which is not an exaggeration), and just the amenities that are needed but not a huge and unjustifiable burden on the owners. But crisis affects people in bad and good condos, and it is especially obvious for condo-hotels, which are relatively inexpensive investment properties, and which are the first to let go, when the owners are in ... 02/26/2010

               Daytona Beach Shores Real Estate - Listings - Sales - Foreclosures in 2009 As a follow-up to my recent post titled "Daytona Beach Shores Real Estate Listings and Sales 2000-2009 Market Report", I decided to write this post, which shows just how many of the 2009 sales were foreclosures and short sales. Once again, I've included a bar graph. For statistical purposes, on this graph I've also posted the actual numbers of how many of these real estate sales were along the lines of foreclosures, pre-foreclosures and short sales. As you can see by the sales numbers, Daytona Beach Shores fared better than the city of Daytona Beach, regarding the number of the 2009 real estate sales that were not traditional seller-to-buyer sales. Read my previous post in the link above to see al... 02/07/2010

The Oceans Complex in Daytona Beach Shores Market. 11 buildings in the complex are direct oceanfront, and there are 5 buildings, (4 condos), which are between the ocean and the river. We will look at them in another blog. In these direct oceanfront condo buildings we are only looking at 2 bdr/2 baths units, which are the majority of units in these buildings. More than 3 bdr units, and certainly more than 1 bdr units.There are  35 active listings for 2 bdr units in 11 oceanfornt buildings in the Oceans Complex in Daytona Beach Shores. 35 is practically 1/8th of what we had about two years ago. The inventory has decreased very significantly. And this is a sign of changing market. Please, note that the prices are a little up from a few months ago. Not a single listing for less than $150K, ... 01/31/2010

Buying A Condo-Hotel In Daytona Beach Area. Will I Get Screwed?I recently interviewed James Dion (Buying a Condo-Hotel in Daytona Beach Area. Interview With GM), the GM at Oceanside Inn in Daytona Beach Shores. I still get questions about it, so I went to James again, and since I am in the same building with him (we opened our branch office in the lobby of Oceanside Inn) it is very easy to do. I asked him to explain how the rotation works. He invited me behind his desk, put his best business look on the face, typed something on the keyboard, so that I could see the units in the resort with all the reservations and other info.Then he showed me what happens when the guest comes to the Front Desk in Oceanside Inn. How the hotel rep is using the software, that determines which unit the syst... 01/30/2010

            Daytona Beach Shores Real Estate Market Reports - Listings and Sales 2000-2009 Daytona Beach Shores real estate sellers: I believe you'll appreciate this compilation of real estate data, which can help you see the big picture when it comes to selling your Daytona Beach Shores house, condo, townhouse, vacant land, or any type of investment property. It's not just about how much your neighbors are asking for their house. It's not even about the last 6 months of comparable real estate sales. In recent months, many lenders have wanted to see only 3 months of recent sales data. And while sales have been improving, the improvement has been in small increments, and many of the sales have been foreclosures. In case you're wondering, your buyer's appraiser WILL include the foreclosu... 01/28/2010