Tell it like it is...

In today's very challenging real estate market conditions, people are asking how is the market in mountain real estate.  Know what I tell them?  I explain that in this market, it is an unusually fine time to buy.  Better inventory.  More product,  Better locations.  Better prices. New structures.  What?

That's right, whole new structures for owning real estate are evolving in this market.  Ever hear of "fractional sales"?  This is a structure in which second home owners are able to sell part or even most of their second home and still have it available for their use, as is often the case, for as much time as they actually use it.

By dividing their ownership into fourths or sixths or some similar fraction, the owners retain fee simple ownership in their property but now can share the responsibility of operating their second home with a number of new owners, not renters!  What a difference in satisfaction.  Like having your cake and eating it too.  Often confused with timeshares, this is ownership of real estate, not timeshares.

Fractional ownership is collecting momentum every day.  But be prepared.  It takes time and money to prepare your home for fractionalization.  An attorney needs to draft an operating agreement, develop an operating budget so everyone knows what to expect.  Are you wracking your brain, trying to figure out a way to do "the responsible thing" with an asset that is truly underutilized yet represents a significant chunk of equity? Want to hold onto your lifestyle? Consider fractionalizing your property and selling it in fractions.  Can you really use it more than 12 weeks per year anyway?  If not, then try dividing it into quarter shares. A great way to go.

Whether you're planning on buying, selling, are considering fractionalizing and re-selling part of your mountain home,...or you just have a question, feel free to call  970-409-9133 at any time 24/7. Love to talk with you.