Investment Opportunity in Volusia County
Recently an article ran in the Orlando Sentinel titled, "Who are region's biggest losers in housing freefall?" In Volusia County, they wrote up the Grande Champion development, west of Daytona Beach, near LPGA. This community opened 3 years ago with plans for 4,000 homes, townhomes, apartments, and condos. They state, "Values there have now dropped more than anywhere in Volusia: Property Appraiser Morgan Gilreath said his office has discounted values there by 56 percent."
The first of two phases had a total of 248 lots. Only eight homes and 25 town homes have been built there. The second phase has 152 lots, all of which are vacant. The project was built as a vacation rental community, and in the current economy, buyers have pulled back most discretionary purchases, especially in real estate.
This is the glass half full/glass half empty argument. Yes, the area is very depressed. But yes, there are some great buys. Contact me to discuss this investment opportunity in Daytona Beach.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.daytonabeachscene.com
www.ormondbeachscene.com