An Orlando couple walked in my office yesterday off a Marquee sign in front of the resort saying "Condos For Sale From $50K". So, I took them to one of the units in Fountain Beach Resort, were my office is, and they were unimpressed. They asked me whether I could show them anything that would impress them.

Sure.

I suggested that we go and look at Plaza, and I told them that I could not guarantee I culd be able to show them the units, but at least they would get the idea of the resort in general.

They wanted to follow me in their car, but I insisted they go with me as on Friday before 4th of July weekend, finding parking could be a challenge.

I know where to find parking, and there was just one space left. Lucky us. We got in and the first thing my party said was "wow". I left them "wowing" and went to see if I could get the keys from Ashley Brannan, Owner Relations Manager, a liaison for Real Estate agents, who want to show units, as the Front Desk would not give keys to agents. Which means that usually you need to call or e-mail to Ashley in advance to get access. Which also means that we are not showing units on Saturdays and Sundays.

I was lucky,Ashley was in her office, and she kindly tried to find anything still available in this busy resort on a busy weekend, and then went to the front desk and ran me the keys for one oceanview and one oceanfront unit. She told me to rush, as both rooms were reserved, and guest could show up at any minute. And when we just walked out of the first unit I showed to my party, people with suitcases were coming to the door.

Oceanview unit is a smaller unit - 372 SF, small kitchenette, granite countertops, 50' plazma screen TV. Everything is quality: furniture, bedding, window treatments. As for the view, for me it is a better view than a direct oceanfront unit offers. You not only see way more of the beach, but you also see the gorgeous pool area. Practically all the time people ask me for direct oceanfront only. I always try to get the keys for both the direct oceanfront and oceanview. And after I show both, I ask them which view they like more. Often times ocean view unit wins.

Did I impress my party? You bet, I did. I will not be surprised to hear from them shortly. My two last sales in Plaza Resort & Spa were to people who are buying site unseen. Actually one closed last Tuesday, but the other is closing in a week. Both sales are short sales, where by the time the approval came, the buyers walked away. Two units on the south side with a great ocean and city view. In both I represent the Buyers. It is funny, but I have not met my client, who closed on the unit last Tuesday. It is all Internet.

Do you know how much they buy for? $44,900. Yeap, no zeros missed, just $44,900. A place which is rented very well, one of the busiest, if not the busiest resorts in the area. Prices now are a bit higher, but there are still great deals there.

I know that the split between the Resort and the owners is 50/50 after the management subtracts 3% transaction fee, 10% of the balance for cleaning, 2% reserve for replacement of furniture, fixtures or equipment. Leaving the owner with 43.65% of the gross income.

I came to the Front Desk and asked them about the rate that Friday night. $259 for city view, $269 for ocean view, and $279 for direct oceanfront studio.

For an oceanview studio, 2 days at this rate will bring the owner $234.84.

Call me 386-405-4408 if you want to become one lucky owner yourself.

Click HERE to see MLS listing in Plaza

For other blog posts about Plaza Resort check these links:

http://activerain.com/blogsview/959589/Why-Is-It-So-Expensive-Wrong-Question
http://activerain.com/blogsview/821535/Oceanfront-Unit-in-Plaza-Resort-Spa-For-Just-86900
http://activerain.com/blogsview/791490/The-Plaza-Resort-Spa
http://activerain.com/blogsview/715670/Plaza-Resort-Spa-Life-After-Bankruptcy
http://activerain.com/blogsview/696817/Daytona-Shoreline-Hotel-Tycoons-File-for-Chapter-11
http://activerain.com/blogsview/622333/Buying-a-Condo-Hotel-Real-Life-No-Nonsense-Scenario
http://activerain.com/blogsview/619452/How-To-Spot-A-Real-Deal
http://activerain.com/blogsview/570982/Plaza-Resort-Spa-Resort-Condo-Hotel-Market-Snapshot

Somehow my posts about The Plaza Resort & Spa got some people confused. I am getting quite a number of requests regarding Plaza, and here are many questions and concerns regarding the Association Fee, d Property Taxes and Insurance.

Q. What is the monthly Maintenance (Association) Fee?
A. Maintenance Fee is $528.50 a month. There are condo-hotels in Daytona with nearly half of that maintenance, and where your rental income is not enough to cover maintenance fee and taxes.

Q. Does it mean that Plaza with their higher maintenance would cost you money to pay towards maintenance and taxes.
A. No, it does not. Oceanfront and oceanview units are in the black (mortgage is not taken into consideration)

Q. What are the property taxes?
A. Can't give you the exact amount. The Buyer's taxes will not be the same that the Seller's taxes. There are several factors affecting the taxes, and purchase price is one of the most important. Just to get the idea, use 2.1%-2.3% of value.

Q. Will taxes for the buyer be higher that what the Seller was paying?
A. Today it most probably is the opposite. The Sellers paid much more for the units. If you buy for significantly lower, you tax should reflect the loss of value.

Q. Do Canadians have to pay higher tax?
A.Property tax will be the same for US citizens and for Canadians (and for everybody else). But Canadians will have to pay 10% to IRS when they sell the property (FIRPTA Withholding)

Q. Do we need to have the insurance?
A. The insurance on the Building is part of your Association Fee. However, if the unit is on rental program, you have to have liability insurance for inside the unit. The way it is done in Plaza is that they take care of insuring the units for the owners at $16.41 a month.

If I have not answered all questions, please call or e-mail and I will either write another blog, or simply send you the answer by e-mail.

If you think you are ready to leap from the theory to getting a unit in Plaza at just fraction of a fraction of the original price, call me at 386-405-4408.

While many of us know better when it comes to people contacting us via the net ..you know the Nigerian scams? Yes I am writing again..its clear in Volusia County and Flagler County Florida its happening in my neck of the woods.

If you are reading this..you might want to pass this information along to someone not so highly skilled on the Internet. It could happen to them...

As a property manager or rental agent one thing to add to your presentation...to forewarn people leasing out their home...and those that are listing a property for sale? If someone contacts them directly..refer them to their real estate agent. I've always said it REALTORS and/or real estate agents provide protection!

Beware of the Nigerian Rental Scam happening on Craigslist!

You can read what the Daytona Beach News Journal Reported...

About The Author: Midori Miller is a Real Estate Trainer and writes and trains Real Estate Training and assists sellers in short sale situations. Midori is a Licensed Florida Real Estate Broker , License # BK645709 and a member of the Daytona Area Association of REALTORS. Contact midorimiller@yahoo.com or (386)453-3236.

Today my son and his new bride close on their house. If there was ever a sure sign that things are turning around then surely it is this.

How could my baby possibly have accomplished this? In the worse of times, they took a step. When there is no money to lend and fear in everyone's heart about the economy, they persevered with a loan officer. They dug into their pockets to pay off a credit card because it was required. They found a home that had only been on the market 21 days and went through the negotiations like veterans.

How could they possibly have done this?

First they picked an incredible real estate professional. Thank you to all that fit that mold. I know times are tough for many of you, probably all of you here in the state of Florida. If not for the dedication and knowledge like my son's realtor showed him there would be a tougher time for all.

Next, his mortgage loan officer rocks. Hand holding them when I couldn't, educating them when they needed it and keeping them updated. That is a true professional. One on one service made this closing possible.

With the difficulties in the housing market today, the professionals have survived. This is why my son and his wife are able to buy a home today.

Now that the house thing is settled, is there anything you guys can do to convince them it is time for a grand baby?

How do I get started in purchasing a home? If I were personally look for a home today...I would do the following things before contacting a real estate professional:

Before I would pick up magazines and start looking at houses regardless of my income, my employment record regardless of how much cash I am working with..

I would not assume anything..because I know guidelines have changed..

First things first, I would contact a mortgage professional that I trust and would find out what I qualify for in order to buy a home.

Because if I don't qualify..I'm not buying!

I would gather docs because I know you will need them...

I would start with the following items: 2 years tax returns, 3 months bank statements, 1 year's worth of rent checks.

I would let my employer know I are buying a house and to expect a letter or phone call of employment verification. It may hold true for a landlord as well so prepare to discuss this with your landlord.

If you are in a lease read through your lease agreement and your lease there may be a chance you can break your lease if you purchase a home. If it is not clearly stated in your documents go to your landlord or property manager and ask what are the consequences in breaking the lease now may be the time to buy a home but it may also prove it's not!

One thing I believe..you have a better chance in buying a home if you are prepared..if you do some homework in advance..and if you keep control in what is going on around you! Don't be the buyer who said they did it to me!

That means trust the professional you are working with, plan on cooperation and make sure and make good sound decisions...understand the documents...read the fine print but most of all pay attention to the numbers...after all its You and only you paying for that mortgage!

These are things I would certainly do!

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It would be my pleasure to help you!

Midori Miller is a licensed real estate associate with CENTURY 21 Sundance Realty, Real Estate Trainer and Broker Associate. If you are interested in a career in real estate please contact me! All calls and inquiries are confidential. CENTURY 21 Sundance Realty is located in Volusia County with 2 office locations to better serve the public. Daytona Beach and Ormond by the Sea. midorimiller@yahoo.com (386) 453-3236