Fractional Ownership comes to Clearwater Beach Florida!

Experts call it the fastest growing segment of the vacation home market and it’s now in tampa bay!
By: Gulfcoast Beach Club
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Nov. 15, 2007 - PRLog -- Clearwater Beach, Fl ---Call it good business sense that has caused three local real estate developers on Clearwater Beach to try something different. Clearwater Beach has been a Mecca for second home buyers but with increased property taxes and insurance the number of people buying a second home is dismal. As a result, developers, realtors and businesses in the area are suffering.

That is why these developers created Gulfcoast Beach Club. For the first time in the Bay area, second home buyers can now become fractional owners. This opens up the market significantly. Not many people want to buy a million dollar second home and have the whole burden of ownership and expenses but there are a lot who can invest 200 thousand dollars to own a fraction of it,” said developer Ed Smeltz. With Gulfcoast Beach Club buyers not only get a luxury town home but also many high end amenities. For example, a sport boat, beach car, personal shopper, maid service and a membership to the local yacht and golf club. Buyers get to use it when they are vacationing and a management company takes care of it while they’re gone. This is not a timeshare. As a fractional buyer you own the property. This concept originated in Europe and is becoming popular in vacation spots around the world.

   Today 90 percent of all second homes nationwide are owned wholly, 10 percent own fractions but that number is predicted to flip in the next ten years.

   Finally good news in the real estate market! Good for buyers and realtors!


Ed Smeltz / learn why he and his partners decided to become the first to sell fractional ownership instead of whole ownership on Clearwater Beach.

Barbara Miller / a realtor with more than 20 years experience on Clearwater Beach. After years of success in the industry she is now selling fractional ownership to clients around the world. She says if she’s going to stay in the business she has to move with the times.

** B-roll and additional information on fractional ownership available upon request

** Call Ed Smeltz or Stacey Phillips at 813-784-2939 for interviews.

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