About Daytona Beach Shores' Oceans One

Can we put together the offer? That's what the customer on the other end of the phone line asked me today. He saw the condo on Trulia.

Of course..

And in no time we e-mail the Contract with Addenda for this lovely direct Oceanfront condo unit in Oceans One in Daytona Beach Shores. Best priced unit, and not even on MLS, but we are lucky to know about it. No, we do not represent the Seller in this short sale. We, as usual, are working with buyers.

In a long instruction accompanying the Contract and addenda I suggest that if there are any questions, we are here to answer the phone or the e-mail.

And yes, there is a question:"What the heck is CCCL?" Good question. Short answer is: Coastal Construction Control Line. Coastal Construction Control Line Disclosure requires the Seller to provide the Buyer with a Survey of the property with the CCCL shown on it. So why we put the checkmark at "Buyer waives the right to receive a CCCL affidavit or survey". What does it mean for the Buyer of a condominium unit in a high-rise building?

CCCL is a jurisdictional boundary to provide state control to regulate construction seaward of the Control Line, however this construction requires a special permit from the Department of Environmental Protection and the requirements are more stringent that are accepted in other areas.

CCCL is not only to control themethods and quality of construction. The CCCL program intent is to protect natural environment, control the beachside construction to maintain the stability of the beach - dune system while insuring reasonable use of private property.

"The control line represents thelandward limit of the significant damage to upland structures from water forces from a one-hundred year coastal storm. Structures located seaward of the CCCL are expected to be impacted by the high winds and storm surges which accompany such severe storms and therefore should be designed and built to withstand those forces" (THE HOMEOWNER'S GUIDE TO THE COASTAL CONSTRUCTION CONTROL LINE PROGRAM).

The CCCL program came into lifein Florida from 1982 to 1991, so there are plenty of houses and condominium buildings, built before that. thhose structures "are deemed as non-permitted structures, and are at an increased risk of sustaining hurricane damage."

So, how is it going to affect our customer? Basically it will not. yes, Oceans One was built in 1974, so it is a so called non-permitted structure. It is there for 35 years, and was tested by Hurricanes Charley, Frances, Jeanne and Ivan in 2004. New buildings are built stronger, new codes are tougher, there are new windows and doors with hurricane-resistance glass...

But these older condos are still standing on the beach, and standing strong.

As for the CCCL Disclosure, our customer is not buying a building, which stands on this imaginary line. He is buying one unit. There is a survey of the building and it is referenced in the Condo Docs.

So, next time you see CCCL when you are thinking of buying anything oceanfront in Daytona Beach area and in Florida in general, you know what that is.

And if you forget, call me 386-405-4408. Of course, first you gotta want to buy something oceanfront (LOL)

The most well known complex of Condominiums in Daytona Beach Shores is the Oceans. Today we make a short stop at Oceans One at 3051 South Atlantic Ave.

This is a 21-story Condominium oceanfront building completed in 1974. 120 two-bedroom / two baths units, ranging in size from 1,112 sq. ft. to 1,247 sq. ft.

Of course, this is not a really luxury building, ceiling height is 8', coin laundry on each floor. There is a pool outside, it is heated, but because we, Floridians, are spoiled and not really use pool in winter, it is not going to be heated through the winter, and when the temperatures drop, they will turn them off, and will keep it heated for weekends only to save on the electricity.

Maintenance fee depends on the size of the unit and ranges from $399 to $427. There is a social room, a library, a small fitness room, pool deck lockers.

You can't beat the location. A mile-long stretch of oceanfront buildings in Daytona Beach Shores with no hotels/motels. The shopping center anchored by Publix Supermarket is across the street.

A rare place in Daytona Beach area where you do not need a car. Currently there are only 6 units for sale (a huge drop from over a dozen just a few months ago). The first one is an REO. Terrific view of the ocean and the river. I am surprised it is still there, but I would not be surprised if there is a bidding war.
The prices at the peak of the market was over $400,000.

No pets are allowed. Minimum rental is 3 months. There is a Special Assessment coming in the beginning of 2010. Time came to fix the balconies. It is a major work, involves concrete restoration, plus the association decided to do some general repairs and upgrades to the building.
In Florida it is usually paid for by the Seller, though with REOs it is not a guarantee.

I can't promise you lower prices... ever... but I expect $400,000 and over will come back and it may happen faster than we think. It is not a matter of "if", it is only a matter of "when". Remember, prized oceanfront in Daytona Beach Shores is limited, very limited.

To secure yourself a vacation place in Paradise call me 386-405-4408.

Time to update on the Condo Deals in the Oceans - Daytona Beach Shores, a popular Oceans complex. In the last months the market has changed: there are fewer units remaining for sale, the prices are somewhat higher, and multiple offers can happen...

I have clients who are still waiting to see how it changes. Well, just 5-6 months ago there were quite a few units in the 140K-$170K range. Look at the table below. There are now only 3 units for under $170K. 4-5 months ago there were 3 units for under $170K just in Oceans One, and now there are 3 in all 11 oceanfront Oceans buildings. "Real' price is over $190K.

The table below includes all 9 units for sale in all of the Oceans buildings for under $200K, 9 out of 22 total units for sale.

It is also good to remember that at the height of the market these units (remodeled) were sold for close to $500,000. (I would rather concentrate on that number, than wait to see if it falls another $10K-$20K.)

So, which of these is the best buy? Well, the best one is not on that list. But it is for sale. We had it under contract for our buyer. It was a short sale, and then the Seller declared bankruptcy, thus effectively killing the Short sale. We asked whether our client could buy a note, never got the answer, and the buyer bought a property in another area.

Now somehow the judge got it out of bankruptcy and told them to sell it, at least that's what the Listing agent told me. She called me because we had it under contract. It is not yet on the MLS, and I might be the only one who knows about it.

Because it is not my listing, and I did not ask the Listing agent for permission to disclose the address, I can only say that it is in Oceans One, it is a 2 bdr/2 bath DIRECT OCEANFRONT unit. Not only that, this unit was practically fully remodeled and now has granite countertops, beautifully done Master Bath, tiled floors. It could benefit from replacing the windows and the sliding balcony door. Living room has the view of the ocean and the city, both bedrooms face the ocean. We had it under contract for $155,500, same as unit 2005 in the same building, which is an REO, with no remodeling except for the kitchen, and not direct oceanfront (but a unit with a great views of both the ocean and the Intracoatal).

You want it? Maybe you could get it for the same price, which would be as close to a miracle as it gets. Call me at 386-405-4408.

Considering the changing market, of course, in a couple of years this would sound more than a miracle...