Are Second Homes Priced Out of Range?

Fractional Vacation Home Trend Begins
 

From the mountains to the sea shore, snowbirds are finding second home ownership is too expensive. In Aspen, Colorado the average home costs $5 million. In South Florida, once an affordable retirement destination, the expense of insuring a vacation home has added to higher real estate values to make ownership cost prohibitive. In almost every second home market, values are up and the cost of ownership has inflated. 2007 is the year of The Fractional Vacation Home. Warren Buffet once commented that jet ownership was an “unjustifiable expense”. Then he bought NetJets, which has popularized fractional aviation ownership. For many millionaires who could not previously justify this luxury, fractional jets are the answer.
 

Timeshare has long been a popular form of vacation ownership, and for tens of thousands of consumers it is a justifiable expense. As 78 million baby boomers begin to seek their retirement nests, many are waking up to the advantages of only owning the fraction they will actually have time to use, and afford comfortably. In the early months of 2007, Homes and condominiums in the most popular vacation spots are being deeded into fractional shares. Few lenders in America will finance these ownership portions. Vacation Finance, America’s First Second- Home Lender, is an innovator in this market. “Our clients can borrow up to 80% of their fractional home purchase just like any other mortgage” said Sharon Jacon, Vice President of Vacation Finance “the value proposition is clearly understood when they realize they can own their share of a $1+ million home for less than $50,000 down and the $1200 a month in many cases.” Ms. Jacon runs Florida operations for Vacation Finance and is bringing fractional loans to the Sunshine State just in time for the first wave of projects and buyers. In March, Vacation Finance will present at all three major fractional industry conferences that will be in Orlando.

 

About VACATION FINANCE
 

Vacation Finance, a division of Americor Financial Services, INC. is rapidly expanding both operations and product offerings in the second home, resort, condo hotel, fractional and timeshare industry. In recent weeks Vacation Finance has announced several new additions to our team in a move to strategically position the company to capitalize on the baby boomer second home boom. 

 

Website: http://www.vacation-finance.com

VACATION FINANCE
Sharon Jacon
Vice President
email: info@vacation-finance.com
phone: 786.281.1498