We just took an amazing listing at PGA West, "The Residence Club" This is a fractional listing and the idea of Fractional Listings appears to be growing amongst our out of town Snowbirds. Many people get Fractional Homes confused with Timeshares and they are not the same.
The big difference between the two is with a Fractional Purchase the buyer actually owns real estate. This is done with an actual Real Estate Deed which is recorded and guaranteed by a title insurance policy. Each owner is conveyed with an undivided interest. Like any real estate this interest can be willed, deeded, sold and even placed in a trust
A timeshare is just that. You do not hold title or full vested ownership,just the right to "lease" a unit for a certain time frame.
Many of our out of town folks that love the desert are finding these fractional homes to fit their needs. The property is maintained, and when they leave the do not have to worry about anything besides the next time they come back.
Are you seeing an increase in Fractional Ownership?
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
