Information on individual condo buildings help guide you in making the best choice. We’ve added these building and will be adding all of the buildings over the next few weeks.

The added condo buildings are:

Admiralty Club Condos
The Admiralty Club is on the river near the Dunlawton Bridge. It’s an older building and prices are under $200,000.

Cloverleaf North Condos
Cloverleaf North condos are located between the river and ocean with an 18 hole par-3 golf course.

DiMucci Twin Towers
The DiMucci Twin Towers building is one of the newer luxury oceanfront buildings. This is a luxury building and many of the units are stunning.

Ocean Four Condos
The Oceans Four is a direct oceanfront condominium building with a fantastic indoor pool as well as an oceanfront pool. This is a popular building in the area.

Peninsula Condos
The Peninsula condos are directly on the ocean with beautiful white sand beaches. Built in 1992, the building is well maintained with many updated units.

Sherwin Condos
The Sherwin condos are directly on the ocean and was built in 1991. This is a very nice building and is maintained well. There are many nice units in this building.

Towers Grande Condos
The Towers Grande Condos are directly on the oceanfront. This is one of the newer luxury buildings in Daytona Beach Shores. The amenities are among the best on the beach.

There are many condos in the Daytona Beach area. We know these buildings. We’ve sold many condos in all price ranges. Please click on the following links to see more options:

Daytona Beach Shores Condos for Sale

Daytona Beach Condos for Sale

Ormond Beach Condos for Sale

Lynn Byrne on Google+

Daytona Beach Condo Vantage Pointe Video Tour

Let’s tour the Vantage Pointe Condominium in Daytona Beach, Florida. The Vantage Pointe is very popular as a year-round and winter home for many people, including wintering Canadians. Please call me at 386-566-7503 for sales information.

Note that the Vantage Pointe does not allow motorcycles or pets. If that doesn’t work for you, please check out other Daytona Beach Condos for sale.

The Vantage Pointe is a great condo community in a wonderful location. Situated on the west side of Atlantic Avenue, or A1A, the beach and ocean are a short walk across the road. The Vantage Pointe sports six, yes six, tennis courts and this is one of its main drawing cards. There’s also a great second floor heated pool with a huge deck and 105 degree spa. The are two barbeque stations so you can grill, and swim and play tennis, then take a nice relaxing dip in the spa.

The Vantage Pointe also has a large club room for parties and events and a fitness center with saunas. The VP is a very popular destination for winter visitors, with many people staying for the season. The VP has an international appeal with European and many Canadian owners and winter visitors.

There are 1, 2, and 3 bedroom units. Many units have been remodeled and are very nice. There are also quite a few units available for rent, with the peak rental season over the winter. Many winter residents have been coming for 10 years or more. Rentals can be as short as one month, but if you want the winter months, you need to call now as they go quickly.

We also have a number of units available for sale. Most are listed, but call Lynn at 386-566-7503 for what’s currently available at the Vantage Pointe. We also have other Daytona Beach condos for sale and rent.

Daytona Beach Condominium
The Mediterranean
Video Tour

Come with us as we take a tour of the spectacular Mediterranean condos in Daytona Beach, Florida.

The Mediterranean was one of the first of the new breed of luxury condominiums built in Daytona Beach. This building and many of the residents are near and dear to me. I sold these units when they were new from the onsite office.

The building is well constructed and well maintained and the amenitities are first class. The pool is right on the ocean with a walk-out on the beach. The fitness center has equipment to rival many health clubs and the club room is beautiful. There’s a media center, kitchen and bar area, pool table and lots of room for events or parties. It is available to all residents.

The Med is located north of International Speedway Blvd. and a little south of Bellaire Plaza, so shopping and the Daytona Beach entertainment center are close by. It is in a very qiuet area of the beach that’s ideal for long sunrise and sunset walks.

All of the units have ocean views and all hallways are inside, so there’s no exposure to the weather as you go to your condo. Parking is underground and secure and access to the building is keycode controlled.

There is a management and maintenance staff onsite and supported by monthly condo association fees.

Call me to check on current condos for sale in the Mediterranean, or click here ==> Mediterranean Condos Daytona Beach to see what’s currently  available. You can go to Daytona Beach condos for sale to view all Daytona Beach condo listings.

On Wednesday, I was quoted in a News Journal article on the current Daytona Beach Homes market. Bob Koslow wrote the article about the decline in sales in July. I reported on July Daytona Beach home sales on August 6th. The article was titled Daytona Beach Real Estate Sales Drop 30.6% in July 2010. Just to update you quickly on sales, it looks like August sales will surpass July’s sales easily. It’s nice to be considered a Daytona Beach condo expert.

Here’s the quote from the article:

“They are mostly second-home buyers and retirees renting them out who are taking advantage of the low prices,” said Lynn Byrne, a condo specialist with CenterPointe Realty. “They are mostly cash deals with buyers using retirement funds or big bonuses to invest in real estate.”

I’ve reported before that over 80% of my buyers are cash buyers. This is a bit higher than homes sold by all agents. In July, 58.2% of all homes and condos purchased through the Daytona Beach MLS were cash deals. I don’t think this surprises anyone. Mortgage loans are still difficult to obtain without good credit or a significant down payment. However, FHA and VA loans are available and are available for those with good credit score with less down.

Condos sales are up because of prices driven down by short sales and foreclosures, and their attractiveness as rental investments. As an investment, building maintenance is taken care by the association from monthly fees. A condo owner who rents out the condo will only need to maintain the inside of the unit and the A/C in most cases.

Another great thing about condo ownership for retirement and second homes is the idea of “Lock and Leave.” When a condo owner takes a trip, they don’t need to worry about whole lot. Turn the water off and go. It’s great for those who love to travel.

Click the link to find out a lot more about Daytona Beach condos for sale.

The FHA has published some new rules for condo loans. These rules are more stringent and are designed to protect the agency from defaults and fraud.

The New Rules

1. 30% of the units must have already been sold
2. A big problem for Florida loans – no more than 15% of the units can be more than 30 days past due on the monthly condo association dues
3. A minimum of 50% of the condo units must be owner-occupied – this pretty much leaves condotels and condo conversion out
4. Residential square footage in the project must more than 75%. This means condos with lots of commercial space may not qualify
5. No single individual owner or investor can hold title to greater than 10% of the units in the project
6. The FHA will not insure more than 50% of the units in the project

You will have trouble with FHA condo loans if the developer is leasing units that haven’t sold. This falls under the 10% title holder rule from above. The developer is now considered to hold title as an investor since they are leasing the units.

Why Would You Want an FHA Loan for Condos

FHA loans are attractive for several reasons:

1. Low down payments – as low at 3.5%
2. Looser qualifying requirements – you don’t need perfect credit
3. Seller’s contributions – sellers can contribute to closing cost
4. Banks low them – they are guaranteed by the the US government

Daytona Beach Condos and the New Rules

I don’t think many Daytona Beach condos are going to qualify under the new rules. The problems with rule number 2 above, no more than 15% of the units can be more than 30 days past due on the monthly condo association dues is going to be a problem with many of the local condos. There are too many distressed units in those buildings. However, we can always check it out.

FHA loans are great for a home you plan to occupy and if you are interested in Daytona Beach homes and will be financing. you may want to check out FHA loans.

What’s selling now in Daytona Beach? Four months into the new year, condos sales are up 19.5% over last year both for Daytona Beach area homes and condos. Interested in what’s selling? Here’s the data.

Daytona Beach Condos sold through April 2009

Daytona Beach and Daytona Beach Shores condo sales dominate the local market. As you will see in the table below, these two communites make up 59.6% of condos sales recorded in the Daytona Beach MLS.

In makes sense that most condos sales happen in Daytona Beach and Daytona Beach Shores. Simply, that’s where most of the condo building are located. Most of the lower priced condos are located in Daytona Beach, Port Orange and South Daytona.

Don’t think that all these low priced condos are cheap. Many are very nice, but they’re not on the beach or beachside. That’s why prices in Daytona Beach Shores and Ponce Inlet are higher, they are beachside communities with many direct waterfront condominiums.

It’s really hard to determine how many of thse properties are foreclosure or distressed properties because it was only recently that foreclosure, short sale and distressed properties were coded in the MLS. We suspect the number is over 50%. To get more information on foreclosures, go to Daytona Beach Foreclosures or Daytona Beach REO (real estate owned or bank owned properties).

Low Prices Rule

59.6% of all condos sold, sold for under $200,000. Low prices are dominating sales. The market for larger condos and homes is small. You can see from the chart below that if you are selling under $200,000 you’ll have plenty of interest – if you are competitively priced.

Sellers – Don’t Play Games

Something jumped out while analyszing condo sales – the spread between buy and sell price were not big. This tells me that the biggest driver for selling you condo is to price it to sell in the current market. If you need help determining that what that means, give me a call and I can help you figure it out. Just dial 386-566-7503 or 888-519-9579.

If you need to sell, don’t play games. Price it to sell. There are too many condos on the market and people are looking in price ranges. If you are too high, you might see a few lookers, but you won’t see buyers.

Buyers, we have some great strategies for you. Call me to find out more.