Families may use their residences as often they wish, subject only to a reservation process, and they avoid the burdens often associated with whole ownership vacation homes. Canadian owners, who travel a distance to get here, need not be preoccupied with maintenance and upkeep thanks to our dedicated staff who handles everything.
Seacrest Beach, FL (Vocus) October 9, 2008 -–
It is no secret that Canadians have a strong affinity for the warm Florida climate. Record numbers are now purchasing this lifestyle thanks to increased affordability rendered by the sagging real estate market and weakness of the U.S. dollar. Magnolia Private Residence Club, located on a pristine stretch of the Panhandle between Destin and Panama City Beach, offers one of the most sensible types of vacation home ownership options for families seeking a retreat along the Emerald Coast. The Club’s residences are being offered fractionally, a concept that provides greater affordability and hassle-free second home ownership.
The Florida Association of Realtors conducted a survey of international buyers for the period August 2007 to August 2008. The results indicate that Canadians now lead the pack of foreign real estate buyers, accounting for 27 percent of home sales in Florida, up significantly from only 7 percent in 2005.
More than one-third of these sales were for homes priced at $200,000 or less. Seventy-eight percent of buyers purchased real estate for personal vacation use, with nearly half of the homes located in resort areas.
Currently priced at just $159,000 for a one-eighth share and located in a family-oriented resort community, Magnolia Private Residence Club reflects the latest trends Canadian buyers are demonstrating. The Club’s 17 fully furnished residences are desirably located along Highway 30-A, a coastal stretch of communities known for their old Florida charm. In addition to spectacular white sand beaches, there are miles of coastal bike paths, nature preserves, rare coastal dune lakes, and award-winning eateries.
“Fractional ownership at Magnolia Private Residence Club also appeals to Canadian residents because insurance, maintenance and taxes are shared amongst multiple owners. This alleviates the expenses second home owners typically incur even though their residences are unoccupied during much of the year,” explains developer Alan O’Neal. “Families may use their residences as often they wish, subject only to a reservation process, and they avoid the burdens often associated with whole ownership vacation homes. Canadian owners, who travel a distance to get here, need not be preoccupied with maintenance and upkeep thanks to our dedicated staff who handles everything.”
Nearby airports are Okaloosa Regional Airport (VPS) and Panama City-Bay County International Airport (PFN), both of which are one-hour flights with frequent departures from Hartsfield-Jackson Atlanta International Airport (ATL).
Magnolia Private Residence Club will open Fall/Winter 2008.
Magnolia Private Residence Club Services & Amenities:
- Seventeen beautifully furnished three-bedroom residences (1,775 square feet)
- On-site concierge service
- Protected boardwalk access to white sand beaches
- State-of-the-art fitness center with sauna, steam room and massage room
- Rooftop deck with heated pool, jetted spa and two commercial grade grills
- Owners’ lounge with honor bar and amazing Gulf views
- Media and activity room
- Club-owned beach cruiser bicycles
- Business services including faxing, copying and overnight courier services
- Pre-arrival grocery shopping service
- Secured, air conditioned clothing and equipment storage
- Club lounge chairs, umbrellas and coolers delivered to and from the beach for owner use
- Daily housekeeping services and professional property management