What is fractional real estate you ask? Well, it's basically partial ownership of property with an established number of owners sharing in use, costs and ownership responsibilities. Often, people confuse fractional ownership with timeshares, however, fractional ownership & timeshare is not the same. With timeshare, you purchase time to spend at a property but you do not own any portion of the property. With fractional ownership, you own part of the title. It's real estate.
Steamboat Springs, Colorado offers four (4) staple fractional real estate properties with differences in the categories of rental possibilities, price, location, and overall environment. However, when it comes to value, one Steamboat property stands above the rest - The Steamboat Grand Resort Hotel.
The Steamboat Grand sits at the base of the Steamboat Ski Area and offers an extensive amenity package. Benefits of ownership at the Steamboat Grand Resort include owner discounts in select restaurants, shops & ski facilities, room service, on site check in, bell / door / valet services, underground parking, a full service spa, fitness center, year round outdoor heated pool, oversized hot tubs, sauna & steam rooms, owners lounge, a well run rental program that may offset some of the carry costs of the residence and may include tax benefits & Seller Financing. Additionally, the Grand offers an Alpine Club in the heart of gondola square. You can pay up to $80,000 for similar Alpine Club memberships currently offered in Steamboat. And this is where the best value proposition of the Grand comes into play... the Price.
The Grand offers three (3) denominations or ownership shares - Full shares, 1/4 share & 1/8 share.
- Full ownership condominiums range from 1 bedroom to Penthouse residences and are currently on the market at prices ranging from $299,000 to $1,800,000.
- 1/4 shares offer a rotating calendar of 13 weeks per year. Available floor plans range from Studios to 4 bedroom Penthouse residences and are currently on the market with prices ranging from $55,000 to $450,000.
- 1/8 shares offer half of 13 weeks per year which translates into an alternating 6 weeks one year and 7 weeks the next. 1/8 shares prices range from $49,000 1 Bedrooms to $225,000 Penthouses.
These prices when compared to similar surrounding product are what make the Grand such a great value. Add to this overall package the planned future development of restaurants & shops in the Ski Time Square area adjacent to the Grand and as one Grand purchaser put it... "It's a No-Brainer."
When considering a fractional purchase always work with a real estate professional who understands & has experience with the benefits & complexities of fractional transactions. For example, did you know that there is a way to secure back to back weeks at the Grand? Not many people do know this, and yet it is a common request from fractional shoppers. Prudential Steamboat Realty agents are trained in fractional transactions and the Steamboat Prudential office has a number of valuable client resources.
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