Hawaiian Inn in Daytona Beach Shores. September 2011

It is time for a market update for Hawaiian Inn in Daytona Beach Shores. Hawaiian Inn, built in 1965, is one of most popular Daytona Beach Shores vacation places, and always enjoyed great loyalty from vacationers.

The resort turned condo-hotel in the very end of the 90s. Developer was on a tight budget, and to maintain the property in decent shape, they always had higher than average maintenance fee, but avoided those Special Assessments.

But time was taking its toll, and the need for major concrete work was becoming a necessity. And a Special Assessment was unavoidable. The problem was compounded by weakening economy, and there were concerns that non-paying owners cold drag the Association into bankruptcy.

Whether a miracle or not, but the fact is that they were able to overcome the tough situation and completed the job.

During the restoration, there were owners who could not come up with the money, and who chose to walk away. There was a moment when prices fell so low, that it was shameful. The lowest was $15K for a unit. Can you believe the price like that for a unit in direct oceanfront resort?

It is all gone, prices are up. Here are the prices in Hawaiian Inn today:

And here are the sold prices in 2011:

If you are looking for alternative to expensive residential condos, call me 385-405-4408.

Prices are still are so low...