IN THE NEWS
WILLIS ALLEN PRESIDENT & CEO ANDY NELSON TRACKS TREND IN FRACTIONAL HOME OWNERSHIP
Posted 05/27/2007La Jolla, Calif. (May 27, 2007) – Willis Allen Real Estate’s President and CEO, Andrew E. Nelson, has spent his career watching for trends in the real estate market. As the summer vacation season approaches, Nelson shares his thoughts about a relatively new way to own a vacation home, called fractional ownership.
“We work with many people who want to buy second and even third homes in the San Diego area, and there is an inventory available for such purchases,” says Nelson. “But we find that these homeowners only use their vacation properties four to eight weeks out of the year, making the cost extremely prohibitive. That’s where fractional ownership comes in.”
Fractional ownership allows clients to enjoy the benefits of owning a home in upscale, luxury resorts for the fraction of the cost of traditional ownership. An example of this kind of ownership program is the new Villas at Rancho Valencia in Rancho Santa Fe. The 12 Villas are located on the grounds of Rancho Valencia Resort, giving owners access to all of the resort facilities, including the new spa, tennis courts, dining and cares of lushly landscaped grounds for hiking, biking and exploring.
Owners are guaranteed four week-long vacation periods each year, plus additional visits on a space-available basis. The Villas at Rancho Valencia offer a total of 96 shared ownership interests and currently cost around $500,000.
Nelson notes, “This is just a fraction of the price most people pay to live in Rancho Santa Fe, one of the area’s most desirable communities. These homes are maintenance and hassle free and give owners peace of mind that their homes aren’t sitting empty the majority of the year. Most importantly, fractional ownership is extremely personal with a focus on luxury. The homes are personalized for each owner visit with photos, mementos and other touches that make the house your home. In short, fractional ownership is a tremendous value for second home buyers.”
To learn more about the Villas at Rancho Valencia, call 858.756.5621.
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