Fractional Ownership News
Construction underway at Idaho fractional homes development
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Construction is underway at MountainSide, a selection of 12 fractional ownership homes with three bedrooms, 3½ bathrooms, large decks and picture windows with views of Lake Pend Oreille, north-west Idaho.
They are priced at $195,000 for a 1/8th share, guaranteeing each owner the right to use one of the homes for four weeks during winter and summer, with additional time available during shoulder seasons. Annual dues are $7,400 per share.
Owners can sell their property, rent their weeks, or trade them for time at other vacation properties. Other benefits include a concierge service “to warm up the house, pull out the skis and shop for groceries”. The homes are being built for LEED (Leadership in Energy and Environmental Design) certification, with geothermal heating, bamboo floors and energy-efficient appliances.
Financing for buyers at MountainSide is being provided by Panhandle State Bank, with a 25 per cent down payment required.
schweitzerrealestate.com
08/03/10
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