Big Bear Real Estate News: Fractional Ownership

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Fractional ownership in Big Bear Lake, California, is becoming a sage alternative to owning a traditional vacation home and the upcoming auction at Big Bear's premier private residence club provides an exceptional opportunity to own resort property in Big Bear.

Fractional ownership in Big Bear Lake, California, is becoming a sage alternative to owning a traditional vacation home and the upcoming auction at Big Bear's premier private residence club provides an exceptional opportunity to own resort property in Big Bear.

For many, fractional ownership has become an increasingly sensible and intelligent way to own resort property. The concept: To buy and own vacation real estate in direct proportion to its intended use.

According to Bob Waun of Vacation-Finance, "The most economical way to own more than one home is to own only the piece you want to use." The question, "Why buy and pay for a whole pie, when what you really want and will use is just a slice," has spawned the existence of private residence clubs in many resort destinations including Big Bear Lake. The Club at Big Bear Village is comprised of fractional owners who use the property much like they would use a traditional second home. However, at The Club, they own in proportion to what they will use which makes for a lower capital commitment.

A residence club provides other benefits that the typical vacation cabin does not. One of the most touted is that, instead of arriving to find the weeds in the yard have multiplied, the deck needs to be refinished and other 'joys' of home ownership need attention, the owners of The Club arrive to find they are truly on vacation. They are free to enjoy the lake, go for a hike, hit the slopes, or simply relax by the pool or in their luxurious, well-kept villas. Instead of the weekend work visa that often comes with a cabin, Club owners are pampered during their stay in Big Bear with services more a-kin to those of a fine hotel.

In addition to the many amenities the property provides, the flexibility of use designed into Club membership is a major factor in its appeal. Owning a one-tenth fraction includes four weeks a year of planned time, which may be used by owners, but can also be rented out, given to family or friends, or swapped for stays at other destinations as part of The Registry Collection of The Worlds Finest Resorts. In addition to planned time, another benefit that many owners enjoy, as most live within a two-to-three-hour drive from Big Bear, is the option to stay at The Club on a space-available or short-notice basis. These additional stays are completely separate from and do not impact planned time. Owners have the ability, depending on their schedules, to use their villas far more than their four weeks of planned time. The Club is just that, a residence club owned by members. It is fundamentally different from a time-share as owners are not buying, nor are they limited to, a specific amount of time. The Club is intended to be used and enjoyed by its owners as they would a traditional mountain vacation home. Owning only what they will use, while enjoying the many amenities of a fine resort, is one of the enticing factors contributing to the popularity of fractional ownership.

Of the original 120 one-tenth fractional ownerships at The Club at Big Bear Village, the remaining 44 are to be sold via a sealed-bid auction. The minimum reserve price for a three-bedroom villa is $99,000; the four-bedroom minimum is $119,000. These reserve prices represent a significant discount from the last ownerships sold. The last new membership sale on a three-bedroom villa was $169,900 and the four-bedroom was $200,000. The auction format is an exceptional opportunity for interested buyers. The sealed bids will be opened on November 13th, 2007. The highest 44 bids win. Buyers at that point will have 30 days to close escrow. Financing is available.

More information is available upon request.

CONTACT INFO:
Mike Sannes
Big Bear Real Estate
40671 Village Drive
Big Bear Lake, CA 92315

Web Address: http://www.RealEstate-BigBear.com

Phone: (909) 435-5155

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