Jon Zolsky, your Daytona Condo Agent

Mid Winter in Daytona Beach

After two coldest winters on record we have a reprieve. This winter so far is exceptionally warm. Next 10-day high temperatures range from 71F to 81F. I was driving today and at 79F outside temperature, had to turn on AC.

And this is January, our coldest month of the year.

I guess you understand that I do not complain here.

These two photos were, actually, taken at one of the colder days here.

If you are interested in Real Estate in Daytona Beach, search Daytona MLS. You will see for yourself that real estate market in Daytona Beach Area is also "warmer" than in last two years.

A few days ago I noticed an ad that there is a Tourism Show at our recently expanded Ocean Center in the heart of Daytona Beach.

One day only, from 1PM to 7 PM. I never went to Tourism Show, and thought that it might be interesting to stop by.

The huge (by Daytona Beach standards) Ocean Center looked deserted, and the main door was closed. There was a man waiting at the door, but he did not know more than I did. While waiting, I looked around.

This is not the largest Convention Center in Florida. You can’t even put it close to Orlando’s magnificent Orange County Convention Center, or much smaller Convention Centers in Miami, Fort Lauderdale, Tampa, which are ahead of us…

Daytona’s is #5 if you stack them by size. But Volusia County Convention Center is the only one in the State of Florida, which is on the Ocean. Yes, it is on the Atlantic Ocean, and all you need to do is cross the street and you are on the Beach.

Oceanfront Hilton Hotel is directly across from the Ocean Center. If you came for a Convention, take the family with you, and while you are sweating at the Convention, the family can enjoy the beach…

The Tourism show was relatively small – about 50 vendors, but I did not expect it to be so interesting and engaging. There were plenty of people, and there were so many interesting things there. There were representatives from major Daytona Area hotels, restaurants, various businesses catering to residents and guests. Tons of flyers, magazines, and, of course, coupons.

Unfortunately, I did not have time to stay long, and I missed “… a free 3 p.m. presentation by world-renowned "beachologist" Dr. Stephen Leatherman (AKA Dr. Beach) -- and a fascinating 4:30 presentation by local outdoor/trails expert Herb Hiller.” (Click here for more) 

 I brought some good stuff from the show and plan to write a few blogs based on them.

To my faithful readers. This blog is for business people in Russia. It is my attempt to foray into Russian business world, hence the blog is in Russian. Sorry for the inconvenience.

MARINA GRANDE ON THE HALIFAX

Из запланированных четырех-этажных башен в Дайтоне Бич, девелопер - Boca Developers, крупнейший девелопер кондоминиумов во Флориде 4-5 лет назад, построил две башни, гараж, торговые и оффисные площади и бассейн. Комплекс элитного класса расположен на Halifax River, или, как ее здесь называют – Atlantic Intracoastal Waterway. С любого кондоминиума есть отличный вид на Intracoastal. C 6-7 этажа и выше открывается вид на Атлантический Океан.

Девелопер попал в кризис, не смог продать кондоминиумы, и отдал проект банкирам. Те, в свою очередь были вынуждены потратить два года на решение проблем со строителями, поставщиками, покупателями... Все это время они не могли продавать кондоминиумы.

Комплекс с воротами, охрана круглосуточная. 486 кондоминиумов в двух башнях. На этаже 10 кондоминиумов. 4 с тремя спальнями (от 180 кв. м. и больше)  и 6 с двумя спальнями (от 155 кв. м. и больше). Цены от девелопера начинались с $400,000+ и до $800,000 за кондо с двумя спальнями и до $1 мил с тремя спальнями на вкхнем этаже. На комплексе висит долг в $192 миллиона.

Новые невольные владельцы решили не продавать кондо по-отдельности, а продать комплекс целиком, т.е. все непроданные кондоминиумы. Цена не установлена, но брокеры назвали $30 Мил. в виде цифры, которую новые владельцы могли бы принять.Richard Friedman, известный девелопер с многолетним стажем во Флориде и Колорадо, предложил новым владельцам услуги своей компании по продаже этих кондоминиумов. Его компания успешно продала 300 кондоминиумов в Южной Флориде совсем недавно. Его расчеты показывают, что продажная цена кондоминиумов в коплексе составит $70 Миллионов и расходы на продажу составят примерно $10 Мил. Ричард  рассчитывает продать все кондо за 9-12 месяцев. Я работал с Ричардом над этим проектом, цифры реальные. Я бы только планировал побольше времени на продажу: 18-24 месяца.

Любительское слайдшоу показывает комплекс и квартиру с 3 спальнями, которую я недавно показывал клиенту.

Aliki Condos in Daytona Beach - 10 to choose from.

If you drive north on Atlantic Avenue in Daytona Beach before you get to Ormond Beach, there are several high-rise oceanfront condominium buildings. Aliki Condominium is at 2828 N Atlantic Ave.

This 120-unit Condominium was built in 1973 by Andy Xepapas and was given his wife’s name. It is one of the most popular condominiums in Daytona Beach.

Three months minimum rental restriction, pets are allowed. The 21-story building has undergone substantial renovations recently, and is now ready to please owners and guests.

2 bdr/2 bath units have floor-to-ceiling windows and wrap around balconies. Views of the ocean from any unit in the building and view of the river from the 6th floor and above.

Prices in 2005 reached $475,000. Today the lowest priced unit on the South side is only $189K. Unit 1504, which was sold in 2005 for $475,000 (not even direct oceanfront) is now for sale for $299,000, but by today’s standards it is as high as $475,000 in 2005. And at $299,000 this unit is the highest priced listing in the building.

My eyes have not used to these numbers. I have forgotten these prices. When I had a distressed sale there a couple of years ago, and the Listing was for $329,000, we all thought that it was dirt cheap.

It is funny how time changes the perception. 3 years ago I was offering an investor an oceanfront condo for $212 a sq. ft., which was an absolutely lowest price in the area, and he was saying that he would not buy for more than $150 psf. I thought he gotta be crazy, as how could that be. Now we do have prices at $150 psf, but the investors are afraid of $150 now as they were of $250 2 years ago.

P.S. When you read it, you can easily change the tense. Because soon it will become the past tense. And we will be talking about how one could buy a condo for only $150 psf, and didn’t. And everyone would be thinking, why?

Does it make sense to buy for $145 psf while the prices were $365 psf? Of course. But if you noticed, I am not saying they will be $365 psf. I am saying that they WERE at $365 psf, and it is not that we do not know whether they WOULD ever go back, they would. What we do not now is WHEN.

Remember the crisis of the 80s? Nobody would ever buy; the prices will never go back again… ever… But they did. Did they stop there?

No, they went way higher.

If you are looking to take advantage of low prices, give me a call at 386.405.4408

And I am the hijacker...

After all this time I finally succumbed to my wife's pressure to take the account over. Olga is a wonderful wife of 40 years, but she is not a blogger, and my attempts to make her one did not succeed.

She does not like her phone to ring on business, as she is much better with customers face-to-face rather than on the phone.

She is better than me with showings, and I exploit it. She can remember such details about the houses that I am stunned by it. I do not remember these details about the kitchens of houses that I have seen 2 years ago, I actually do not even remember that the house had a kitchen…

I guess I am better at some other things and she exploits it. But at least now she will be happy to know that I will stop harassing her.

The funny thing that I am sure she would start going to AR to see what I am doing more often than before. So, even though I am guilty of hijacking, it was an act of hijacking by mercy.

I love Ponce Inlet as she does, and one day would want to retire there... if one can retire being in Real Estate...

Call me 386-405-4408