Insiders Secret to Successful Second Home Ownership

Hemispheres Magazine - June 2008 - 06/01/2008

Fractional ownership is the fastest growing segment of the luxury vacation home industry. Purchasing a deeded share of a vacation home is, quite simply, the most sensible way to own a second home while foregoing the maintenance responsibilities and intense capital requirements of whole ownership. Luxury shared residences are especially desirable now as the attractive price points (oftentimes less than a typical down payment) make for an easy decision in a weaker real estate market. Conversely, in a booming real estate market, shared ownership emerges as a premium choice by reducing the trepidation of buying at a market's "peak". The secret to successful second home ownership, regardless of the real estate climate, is fractional ownership.

Resort Equities, a boutique, shared ownership organization based in the San Francisco Bay Area, is one of the leaders in this emerging market. With a portfolio of properties in sought-after destinations such as Maui, San Francisco, Tuscany and Lake Tahoe, Resort Equities embodies the finest of fractional offerings. The highlights of which include exclusive properties, meticulous maintenance and high-touch service. Each reservation is booked by an Owners Liaison; each experience is managed by a proficient, local team; each vacation is a memorable, effortless retreat.

Recent press points to shared ownership as an emerging and ideal second home ownership choice:
Shared, or fractional, ownership is "the biggest news in real estate" according to Conde Nast Traveler. "It's not hard to see the appeal of this new generation of second homes. When you consider that the average vacation home buyer uses the property just three to four weeks a year, well, a fractional begins to seem not only practical but downright preferable." The Wall Street Journal agrees that it is "the sensible way to own and enjoy luxury assets".

According to the San Francisco Chronicle "… fractional ownership is often an alternative to a second home, but it also can be an addition to a second home. You see people who have a pied-a-terre in San Francisco, a cabin in Tahoe; they're looking for ways to supplement their vacation travel. Fractional presents an alternative. Rather than own a whole unit, make smarter use of your money: buy a fraction."

And, the New York Times illustrates, "Many buyers purchase fractionals not as an investment but as a vacation alternative … Such properties appeal to buyers who want exclusive getaways but who may be unwilling or unable to purchase a second home they will use for only a few weeks a year…The younger generation of buyers is viewing it as an alternative to full ownership because of the ease. You're not paying for when the property is vacant, it's become a convenient way to own a second home without all of the problems."

To learn more about Resort Equities and their unique properties and shared ownership programs, visit: www.resortequities.com

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