Re-sale market for deeded fractionals?

[OnMedic]

I have looked at many fractional properties such as the Ritz, and others in Colorado, Utah, Florida, Stowe, etc.

I like the concept of deeded real estate, but the LACK of tradeability was a deal breaker for me. Also, the rotating week system was the pits.

If fractionals ever copy the DC industry or timeshare industry, then I would buy in a second.

I ran into one somewhere (Can't remember where...sorry) that the summer weeks were in a block of two and fixed rotating, with the rest of the year floating....

 

[Fredm]

I have looked at many fractional properties such as the Ritz, and others in Colorado, Utah, Florida, Stowe, etc.

I like the concept of deeded real estate, but the LACK of tradeability was a deal breaker for me. Also, the rotating week system was the pits.

If fractionals ever copy the DC industry or timeshare industry, then I would buy in a second.

I just returned from a visit to the Fairmont in San Francisco. Stayed at their fractional (Heritage Place) in Ghirardelli Square.
Very well done renovation of a historic landmark. Exposed brick walls, dark hardwood floors, etc. 51 2 and 3 bedroom apartments, all with Bay views.
The Fairmont concept is an interesting one.
- Fractions are 1/10th, or minimum of 35 days.
- Maximum stay per visit is 2 weeks.
- Minimum is 1 night. 2 nights, if weekend nights are desired.
- 14 nights may be used at other Heritage Place and Residence Club locations, OR at any Fairmont Hotel/Resort, and Raffles Resort, worldwide.
- Among the benefits is membership in Presidents Circle (otherwise by invitation only). The major advantage of Presidents Circle is automatic upgrade to the best room/suite available at any Fairmont Hotel/Resort, worldwide.

During my stay at Heritage GSQ a newer Maserati 4 door sedan, with driver, was available to me for local transportation needs, at no additional cost. Very cool way to pick up sundries at Walgreen's!

All in all, I was quite impressed.
Prices were about what I expected. 2 bedroom, 250k. 3 bedroom, 360k.
Annual fees are 9-10k.

 

[ecsmoore]

Steamboat Grand Fractional

We bought a 1/8 2BR 3Bath at the Steamboat Grand. It is a tripleA 4 diamond resort. I have stayed there about 10 times in 3 years. Some ski weeks and some in August for the tennis tournament and sometimes just to relax. I cannot think of one problem or concern with this investment. If you read the SteamboatPilot (.com) the resales are listed every week and there is definitely no depreciation. Also, they have the Space Available policy which allows you to stay for up to 6 days in other condos then your own. If you put six days on the front of one of your weeks and 6 on the backside you have 19 days. I did this twice in the summer time. I have only stayed in my condo 2 times!! Our unit has enough rental income that we have never had to pay HOA fees. Great fitness, beautiful pool, great restaurant, free shuttle to town, (the town is awesome), great service and soooooooooo beautiful in the mountains. I did tons of research before making this investment and a fractional is NOT the same as a week timeshare. It has alot of the same properties but they are not used the same way. People treat them as higher level second homes. Higher level, meaning higher level than they can afford for a 100% share. I have also traded via Craigslist with other owners around the world. No complaints... just feel lucky to have a dream home to go to in Steamboat!

 

[x3 skier]

We bought a 1/8 2BR 3Bath at the Steamboat Grand. It is a tripleA 4 diamond resort. I have stayed there about 10 times in 3 years. Some ski weeks and some in August for the tennis tournament and sometimes just to relax. I cannot think of one problem or concern with this investment. If you read the SteamboatPilot (.com) the resales are listed every week and there is definitely no depreciation. Also, they have the Space Available policy which allows you to stay for up to 6 days in other condos then your own. If you put six days on the front of one of your weeks and 6 on the backside you have 19 days. I did this twice in the summer time. I have only stayed in my condo 2 times!! Our unit has enough rental income that we have never had to pay HOA fees. Great fitness, beautiful pool, great restaurant, free shuttle to town, (the town is awesome), great service and soooooooooo beautiful in the mountains. I did tons of research before making this investment and a fractional is NOT the same as a week timeshare. It has alot of the same properties but they are not used the same way. People treat them as higher level second homes. Higher level, meaning higher level than they can afford for a 100% share. I have also traded via Craigslist with other owners around the world. No complaints... just feel lucky to have a dream home to go to in Steamboat!

I bought before they came out of the ground and have been happy since. I live in town during the winter and use the Hotel facilities every day. Income more than covers expenses.

I have two comments on your post. First is that you can only have 3 days in the same unit as a Space A and then you have to move. (At least that used to be the policy). Space A is hard to get in the prime ski season but if you can, it is a GREAT deal.

Second is that the HOA decided not to pursue getting the AAA recognition this year which I personally do not agree with. Something to do with how the units are broken up for rentals vs. AAA criteria.

Cheers

 

[Twinkstarr]

Le Bear Fractional in Glen Arbor, MI default on loan

This is a very nice fractional up in Glen Arbor, MI. Is listed in the RCI Registry Collection.

http://www.lebearresort.com/home.htm
http://leelanaunews.com/drupal/?q=node/581

 

[GregGH]

This is a very nice fractional up in Glen Arbor, MI. Is listed in the RCI Registry Collection.

http://www.lebearresort.com/home.htm
http://leelanaunews.com/drupal/?q=node/581

Hi

Interesting -- I made a NEW thread for this --let see where this property goes ??

I started a new thread for this property ... see....http://www.tugbbs.com/forums/showthread.php?p=638267#post638267