Condos, Trends, Vacation homes
Fractional Vacation Home Ownership
There has been talk lately of this new form of vacation-home ownership. It’s similar to a time-share in that you don’t need it all the time, so why pay for it for all the time? Unlike a time-share, you own a specific piece of real-estate, an appreciating asset over time, with tax advantages and everything, instead of the time-share dissapointment that many have experienced. So, instead of buying an $800K waterfront vacation home that you won’t use all the time, you can own a part of it for much less.
I have noticed some available in Chelan, that include concierge service that prepares the home they way you want it for when you arrive, including grocery shopping!
Here is a WSJ article describing more about fractional ownership, including some links for further info.
The Fractional concept is not just for buyers either. If you own a vacation property, it can be listed and sold as a fractional property too. This increases the pool of prospective buyers, and usually brings a higher sales price.
For more information on buying as a fractional owner, or selling a property as fractional, contact us.
Greg Bartell, Realtor ®
Many sellers and real estate professionals have been increasing the visibility of their properties by listing them as both a fractional and whole ownership opportunity.
This is an increasingly popular trend in a suffering market that is being driven by “cooperative consumerism” that advertising research firm J. Walter Thompson Company identified as a 2008 “Thing to Watch”.
Fractional Home Conversion has also been strongly influenced by the large population of baby boomers, and an emerging group of “mobile” professionals who can work anywhere they have an internet connection and/or cell phone coverage. In fact, many of these “mobile” professionals are seeking out fractional real estate properties on a global scale.
Expect to see the trend grow in popularity. Our company is proud to be the definitive educational source on “Fractional Home Conversion”. Fractional Retreats, LLC will educate, consult, and manage you through your own fractional project to help you gain more visability, and sell more homes.