Isn't It Overpriced?

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Real Estate Broker with Daytona Condo Realty, 386-405-4408

My clients came to see this three-bedroom/three baths direct oceanfront unit in Bella Vista in Daytona Beach Shores.Bella Vista in Daytona Beach Shores

The view is excellent, view east to the ocean and north, making it a panoramic spectacular view.

Unit is in perfect condition.

They liked the unit. The question is: «Isn't it overpriced?»

I know why the question came. Just yesterday another unit, just next to it (not direct oceanfront) was closed for just under $400K.Units in Bella Vista in Daytona Beach Shores

So, is it overpriced?

There are 7 units for sale in Bella Vista and this particular unit for $421 is the least expensive unit. Next unit just one floor higher is $488,900.

No, it is not overpriced. When there are several units for sale in Bella Vista, and this one is the  least expensive, it is not overpriced.

What "overpriced" means? Only that in this market it can't be sold for the  asking price. The lowest priced unit, which is also the lowest in comparable buildings like Palma Bella, Ocean Vistas and Ocean Villas, is not overpriced.

It is not what other units were sold there for. It is what you can sell here today. And the Seller can be pretty comfortable with the price... For as long as it is the lowest price, it is not overpriced...

image of Jon Zolsky, FunCoast RealtyLooking for the best deal in Daytona Beach Area? Prices are higher, but still good... for now. Call me at 386-405-4408.

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Topic:
Home Buying
Location:
Florida Volusia County Daytona Beach Shores Bella Vista
Groups:
All Things Florida
Condo Specialists
Condos, What you need to know?
Local Expert
Posts to Localism
Tags:
bella vista condo in daytona beach shores
bella vista daytona
bella vista daytona beach

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Jon Zolsky
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Donna - often times they keep doing it when the market has already changed. There is inertia, and it takes a long time for the Seller to accept that the prices are falling, and by the same token it takes a long time for Buyers to understand that the yesterday price is yesterday.

August 08, 2011 03:02 PM
Rainmaker
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Put 40 years of experience to work for you
Lyon Real Estate

Actually, if unit 309 has an ocean view, that is the best priced condo in that building, not unit 203.

August 08, 2011 04:39 PM
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Jon Zolsky
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Elizabeth - 309 is on the south side a middle unit on that side. 210 is west corner, and 308 a direct oceanfront/corner unit. There is a 3-story small hotel next to it, and it is partially blocking the view.

203 is direct oceanfront with an excellent panoramic view. But it is smaller...I know

August 08, 2011 05:21 PM
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Debe Maxwell
Charlotte Homes for Sale - Charlotte Neighborhoods
www.AtHomesCharlotte.com | Savvy + Company Real Estate

I'm finding that even when you're the lowest priced, they still hit you with low-ball offers!  It's maddening at times just how much the media has 'convinced' buyers that all listings are overpriced!  Those days are GONE!

August 08, 2011 11:52 PM
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Debe Maxwell
Charlotte Homes for Sale - Charlotte Neighborhoods
www.AtHomesCharlotte.com | Savvy + Company Real Estate

OH, and Papa Jon, I LOVE your photo--what kind of camera do you use?  It's incredibly crisp and clear.

August 08, 2011 11:52 PM
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Selling Daytona paradise for heavenly good prices
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