"Deals of a lifetime" is how a spokesperson for developer Ambling Land & Resorts described the prices last week at their auction of 30 units in Ocean Vistas of Daytona Beach Shores. He continued, "I think the auction set the bottom of the market and we have adjusted our new sales numbers accordingly," said Steve Brooks. "Bid prices were just less than $200 a square foot. We could not build for that today."
The auction brought 88 bidders and almost $14 million in sales. Originally homes in Ocean Vistas, open in 2006, listed at $700,000. Today's prices range from $320,000 to $495,000. A penthouse at the auction went for $667,000.
The Florida Assn. of Realtors reported that falling prices have led to a slight increase in condo sales through the first three months of the year as compared to previous years. There were 273 condos sold in Volusia and Flagler counties in January through March, which is more than the 244 sold in the first quarter of 2008.
Nationwide, buyers are taking advantage of the combination of low prices, low rates, and high inventory. Don't let the bottom of the market pass you by - think 2nd home, think rental, think investment - but think Daytona Beach real estate!
Sherry Armstrong, Realtor
www.daytonabeachflhome.com
www.sherryarmstrong.com
sherry@sherryarmstrong.com
386-679-3191
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