Fractionals in Canada

Does anyone own a fractional ownership in Canada? Is it a 1/10, 1/5, etc.? Where is it?

We don't, but there were quite a few fractional developments being built in the Golden/Invermere/Fairmont area of the Columbia Valley a few years ago. We looked at a few of them a couple of years ago.
There were some very nice units and they were pushing the rental potential for meetings, conventions, etc.
We weren't really interested and I don't know what has happened to the market since then. Seemed to be a lot of supply in the area but it is a popular area.

Aviawest has fractionals at Pacific Shores in Nanoose Bay BC and at Parkside in Victoria. The website says "fractional homes are typically sold as quarter ownership" and their rental offer is 65% reimbursement to the owner.

Some fractionals in Canada ( and elsewhere ) are listed in Registry Collection ...search the links on TUG or google it ... after all - once you own a fractional - you want to trade you 'weak' week for something better.

Greg

Ah yes, mention of the Registry Collection twigged my memory - there is also the Beach Club on the beach in Parksville, BC that has fractional ownership and belongs to the Registry Collection.

How are fractionals bought/sold?

kenie said:

We don't, but there were quite a few fractional developments being built in the Golden/Invermere/Fairmont area of the Columbia Valley a few years ago.

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Thanks for the information. We have quite a few developments in Ontario cottage country, e.g. Muskoka. I've seen a few for sale with real estate brokers in the area, however not many for sale elsewhere. Anybody know how to buy/sell fractionals without going through the developer?

Try looking on mls.ca.

Here is an example of a listing:

http://www.realtor.ca/propertyDetails.aspx?propertyId=10525619&PidKey=-152985646

Not A Timeshare!

Chilcotin said:

Try looking on mls.ca.

Here is an example of a listing:

http://www.realtor.ca/propertyDetails.aspx?propertyId=10525619&PidKey=-152985646

Click to expand...

Thanks for the link. Isn't it interesting that so many listings for fractionals say, "NOT A TIMESHARE."

I believe that fractional sales people and their supervisors are simply too knee-jerk stupid about the " 'timeshare' as a curse word" equation.

"timeshare" as a word comes from the early days of computers when they were so big, cumbersome, and expensive that companies who needed the services of them had to share time with other companies.

Surely this concept applies directly and meaningful to sharing a vacation home with others because it's a reasonable solution. Fractionals, when first envisioned, offered a type of butler and storage service so owners could personalize their fractional homes a bit when they were in residence. This covers the one area that sales prospects legitimately object to when evaluating this form of ownership.

Sharing time through "timeshare" should not be an objection--it was a great solution in the early days of computers. It can be a great solution now for second homes--even a green solution. It all depends on execution.

Okay, enough of my opinionated rantings. Move on....LOL

One of the real estate agents in Invermere handles a lot of timeshare re-sales for the Columbia valley area.

http://www.timesharecanada.com/.

Careful

Careful with Canadian Timeshares. And fractionals often are. Only you get to pay for many weeks forever rather than one. Pacific Shores filed for creditor protection recently. Noone knows how much in debt they are. The units usually are beautiful but you are buying luxury goods in a down economy. Good if you use them but poison if you are trying to sell.

Red Leaves on Lake Rosseau

Does anyone know how things are going at Red Leaves on Lake Rosseau since the bankruptcy? Is anyone an owner there? How many weeks are in a fraction?

Touchstone on Lake Muskoka - Online Auction

An auction is currently being held for distressed fractionals at Touchstone on Lake Muskoka. If you've always wanted to be on Lake Muskoka but don't have that extra $1+ million to burn on a cottage, now is your chance. Good luck!

We have a 1/4 share at Horstman House Whistler.


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Whistler BC has a great many fractional condos from 1/4 share to 1/16

Bill4728 said:

Whistler BC has a great many fractional condos from 1/4 share to 1/16

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I've been told Whistler has some of the most successful fractionals because it's Canada's closest thing to a 4-season resort. With the conference business even the "mud" weeks trade fairly well.