About Daytona Beach Shores' Towers Grande

Towers Grande Condominiums. Daytona Beach Shores. Market Report. February 2012

Towers Grande in Daytona Beach Shores is a 16-story direct oceanfront condominium built in 2004 by DiMucci Development Corporation.

There are no residential units on the ground floor, and there is no 13th floor. Regular layout is 10 units per floor on floors 2 to 14. Two 2 bdr/2 bath units per floor, 1,860 sq. ft. Eight 3 bedr units. The largest 3 bedr / 3 baths is 2,378 sq. ft.

Only 6 units per floor on 15th and 16th floor. All units there are larger, starting from 2,385 sq. ft. to 4,011 sq. ft 2 units combined).

Towers Grande in Daytona Beach Shores is one of just few condo buildings in the area with minimal pet and rental restrictions. Two pets up to 60 pounds each are permitted. Two week minimal rental makes this one of the best properties to rent while you are away, to offset some of your expenses. However, by the same token, if you are looking for a primary residence, you may not be happy with renters and may prefer more privacy.

Towers Grande amenities include two large heated oceanfront pools, two large Jacuzzis, 400 feet of beach with lush tropical landscaping. Other resort amenities include clubroom with surround sound and theatre set up, billiards, a library, a state of the art fitness center, private beach access and secured reserved underground parking.

Large Club room, well equipped gym are on the ground level. Two good size outdoor oceanfront pools, one heated, plus two hot tubs, beautiful deck...

Parking is on the ground level and there is also one underground level. One reserved space for unit, and even the penthouse units do not have 2 assigned spaces. There is guest parking on the ground level outside of the building.

Here is a list of units for sale in Towers Grande in Daytona Beach Shores. Lowest 2 bdr unit is $245K, which is darn good price. 3 bdr start at $294,900. Still excellent price.

Below is a list of units in sold in Towers Grande in 2011:

Compare it to the prices in Towers Grande at the peak of the market:

Buying a condo in Daytona Beach Area?

Call me at386-405-4408 to make sure you are getting what you are paying for. And, maybe, even better...

I do not have buyers this weekend, but I have two showings of our listing in Towers Grande in Daytona Beach Shores. We actually have more showings but others have lockboxes, but Towers Grande, like many other condos, do not allow lock boxes. Plus the managers are not there on weekends and getting into the building is not easy on weekends unless you have the Master key.

This is a short sale, and we are in a rush to beat the foreclosure. It is a 3 bdr/3bath 2,140 sf oceanview condo in Towers Grande, built in 2004. The price reflects the rush, at $249,900 it is $100K less than identical 9th floor unit on the same line. And at this price it was verbally approved by the short sale Lender.

In our small family office we are quite loose with the dress code. Shorts and flip flops are fine when selling beachside condos. And on Saturday, this is even more so...

I meet the agent in the lobby. She is showing customers the amenities, and it seems that she is not familiar with the building but she is very protective and does not want me to do the tour. Then we go to the unit, there is a moment when there is me and her, and I ask the agent whether this is the least expensive unit in... but here the agent interrupts me and lectures me that in order for her to make such statement, she would have to investigate. She sounds very disapproving of me...

Funny, I was not even asking about this building, I know that this is the least expensive in the building and by a huge margin. All I was saying that I have not checked MLS statistics in couple of days, but if nothing changed, this is the least expensive oceanview 3/3 large unit in the whole Daytona Beach Shores... (there are 2 units in Oceans Seven for a bit less money, but they are 1,533 sf and this unit is 2,140 sf). Making it the best deal in Daytona Beach Shores... and she knows nothing about it...

I thought it is very strange, that an agent tells me that she would not say something like this without a research, but did not do any research PRIOR to taking people to show the unit. What are you telling people when you take them to show the unit? That you will then do a research and tell them that, by the way, this unit (which by that time that would completely forget about) was the least expensive in the whole Daytona Beach Shores?

We were both very disappointed with each other. She – with the way I look, I - with the way she works.

The virtue is not restraining from saying something which is not true, the virtue is in being prepared and know everything you can reasonably learn about the property that you are showing. That includes reading descriptions on MLS (I usually will read dozens of them, as you can learn something from them), Googling it and reading blogs (including mine) about not only the building, but the unit as well, and, finally, calling the listing agent and asking questions.

Unfortunately, this was a wasted showing, one of many that agents diligently do knowing little to nothing, with the hope that clients will one day get tired of seeing unit after unit and will buy something.

Watching some agents work is a torture. Watching knowledgeable great agents at work is a blessing...

Life offers more tortures than blessings.

I really could have spent my time better...

We recently listed a short sale in Towers Grande in Daytona Beach Shores. 3 bedroom/3 baths direct oceanfront condo in a 7-year old building. It was a rare case, where the Buyer needed financing.

The buyer had excellent credit, sufficient funds for down payment available, should have been no problem. And while we concentrated on obtaining the approval of the Short Sale, and worked with a local law firm Johnson & Johnson Attorneys & Counselors at Law, we kept track of the Buyer's progress.

We had the pre-approval letter. So, all we were waiting for was to get the short sale approved. Wasn't a walk in the park, but we finally got it approved. So, now it was in the Buyer's bank corner.

And instead of getting to closing, we got into a stalemate. There was a lien against the Association by a disgruntled contractor. The Association claimed that it was frivolous, but frivolous or not frivolous, it was a recorded lien.

The Association is well capitalized, has money, excellent insurance, but the Lender demanded the Letter from the Association stating that the lien would not affect the purchaser of the unit. Association could not give such letter and turned to their attorney. Attorney tried to talk to the underwriter saying that he would lose his license if he guarantees something that just can't be guaranteed.

Nothing worked. The underwriter was demanding a guarantee, which legally could not be done. It was not reasonable, but who gives the money, sets the rules. These Buyers finally purchased this unit after switching to another Lender, that accepted the insurance and Association's money, but this is for another post.

When you are dealing with a condo, make sure you know whether there are liens, and what they are, and talk to your lender before applying for financing.

To enjoy our moderate weather year round and live by the World's Most Famous Beach, just call me 386-405-4408.

Search Daytona Beach Shores condos on MLS

Search Daytona Beach Shores homes on MLS

Some condominiums in Daytona Beach Shores do not allow lockboxes of any type. To show a condo there you have to arrange with a listing agent to come and open it for you, or go to the Listing office and get the key. But agents are not average Joes and they can make a simple task a challenge.

I am in a dual role today. I am showing units in Towers Grande in Daytona Beach Shores, which are our listings, and we are also showing someone else’s unit there to our prospective Buyer.

First, getting a key. The office is about 25-minute drive, which is far by Daytona standards. Calling the office to make sure they have the key. Yes, they have the key. Just come and grab…

25- minute drive, inside, the girl smiles, goes for the keys… “sorry, they key is not here. Another agent took it, and I did not know that”.

Well, another agent took it BEFORE I called.

For some reason it is not unusual. And when you insist they make sure that the key is really there, they confirm… without checking the key box, just by checking the book where they register the keys.

OK, so that was wasted time. But how can you go wrong and waste time when you have the keys because these are your listings?

On Tuesday I received a call from the agent who wanted to show my listings in Towers Grande about noon on Wednesday. I am less than 10-minute drive from Towers Grande, so I ask the agent to call me when he is on his way, giving me 20-30 minutes.

He calls at 12:15 and asks me to be there at 1 PM. So, I am there at 1 PM. At 1:11 PM he calls and says he is a bit late. He finally shows up at 1:50 PM.

- Sorry, brother…

If time is money, why am I surprised that I am far from being rich? 

I think I am closer to being poor…

If time is money, are you rich or poor?

*  Image courtesy of ell brown via Flickr.com

We were working with a buyer, who put a $470K offer on a Penthouse condo in Towers Grande in Daytona Beach Shores listed for $499K, which at one time (in 2006) was listed for $1,950,000. Very low offer, but the Buyer thinks that he can do whatever he wants, and everyone would agree. Well, if it does not work (pretty much expected), the buyer will learn to trust us more and will be more reasonable.

When the initial contract expired, the Buyer did not extend the contract and left the area. That happens. The Seller decided to change the horses, and relisted the property with us, so now we started working with the Listing.

We could not afford lowballing now, that we worked with the Seller, and after analyzing the market we suggested to list at $575K so that we are just under the next comparable unit there.

3 days later the unit next to this disappears from MLS, and I suggest that the Seller to raise the listing price to $595K. He is surprised, but he does not object. I guess at this moment for raising the price by nearly $100K makes him think of me in those "flattering" terms that you can’t put on paper.

Well, we have it there, and in the next 2 weeks we have 3 showings. All great, but no offers. We do the slide/video, put it in different places on the internet, have a couple of requests for information, send it…

Then we do the Open House. We ran a display ad on Saturday & Sunday with a photo, and then a small classified ad in the same paper running Friday and Saturday.

The key is Penthouse with over 4,000 sf. And we give the link to the site with all the info and video.

It is tricky to do Open House in a secured condo. We give the phone, so that people can call, and we will go down and open the door. You can’t just walk from the street. The association does not allow any signs on the property, so it is only if you have read the newspaper.

Got one call. Yeah, interesting, maybe they will come… Go there, start preparing, see someone behind the door. Those who call are here, someone let them into the building. Show them the unit. It is a large unit, and we are not in a hurry, so we talk. Very nice couple. He is pleasantly surprised, but I would not say that he is thrilled. His wife is mostly quiet, and does not show a lot of emotions.

I am walking them to the elevator. She turns to me and says

- I like it. Help me buy it

- How?

- Talk to my husband

The doors open, and they say “good-bye” and disappear behind the elevator doors.

I have another couple, and after a long tour my phone rings. My first customer calls

- My wife really likes it and wants me to put an offer

- And you are not thrilled, aren’t you?

- Ah… Not really…So, what do I do?

- I think you have two options. Divorce, or buy.

For a second he is quiet and then he starts laughing…

They wanted to come again in the evening to see what kind of view is there when it is getting dark. The views of the peninsula lit with light and all the reflections of light in the Intracoastal were breathtaking… His wife told me that he came back and told her what the choices were. Well, she is a very clever woman. She told him divorce would cost more …

Next day we had a full price offer.

We are working on it now.