Fractional Whistler Snowbird

[WA_Traveler]

Hi, I'm new to the fractional forum, and do not own any fractional property yet. My family and I just got back from Whistler, and loved it so much we are considering a fractional condo in Snowbird (in the village just a block from the Four Seasons). This is a deeded 1/5th ownership in a 4 bedroom condo with 10 weeks usage a week. The fees are $9000 annually which includes every fee, tax, utility, etc.

I don't understand fractionals very well, so I'm hoping someone can shed some light.

• Are there any restrictions on renting units?
• What can I expect in terms of number of weeks I could reasonably rent out my unit (4 br)?
• Is there any way to find out comp sales in Canada? I'm wondering what the last 3 - 4 sales were?
• How do folks think the real estate market will hold up in Whistler after the Olympics are over?
• How long does it take to sell deeded fractionals in a place like Whistler?

Thanks so much,

 

[Sherpa]

Hi WA Traveler

All very good questions - although for some of them you'll need to ask folks who are experts in the Whistler real estate market.

For restrictions this varies from property to property, and will be in the documents you sign as part of your purchase. Ask the eveloper/management company/saleperson for all these documents. Some properties allow rentals, some don't. For those that do allow them, sometimes you have to go through the property management company, at other times you can do things yourself.

For Comp Sales again start with the developer/management company/saleperson. If it's a new development it may be the case that all resales have to go through the developer/management company for the first few years (they want to control the initial market). If it's an older property then the local realtors will most likely handle the resales and are the folks to ask. Are the sales prices or real estate public record in Whistler ?

For your other questions these are all Whistler specific. The anecdotal information is that fractional prices in most places tend to track the overall property market, so they'll go up as property markets go up and vice-versa.