Newsletter - Volume 14. 2009

Global Quarters, Inc.  

Extraordinary places still exist.  Ghirardelli Square, one of the most precious jewels of San Francisco, is Fairmont’s first urban, luxury private luxury residence club.  A marketplace, a gathering place, a one-of-a-kind destination with the most spectacular views of the San Francisco Bay and beyond.  Once an illustrious chocolate factory in the 1800s, now a retail urban oasis, Ghirardelli Square is proud to announce a new name for the first time in its rich San Francisco history: Home.

HOMES

Own a view like no other…  Fairmont Heritage Place, Ghirardelli Square offers a 1/10 deeded interest in one- two- and three-bedroom exquisitely designed homes.  Sleek, stylish stone reflects the sophisticated taste of this truly modern city. Historic red brick walls offer an authentic aspect to dramatically compliment the warm modern yet elegant design.

AMENITIES

Fairmont Heritage Place, Ghirardelli Square features exceptional San Francisco homes that are equipped with the finest state-of-the-art technology and appliances such as:

Each of the luxury homes offer such inviting details as dining islands which are perfect to entertain you and your guests, a fireplace in every living room and luxurious Mascioni Italian linens. These exclusive homes in San Francisco truly capture the essence of the city - modern living in a historically charming yet stylishly decorated waterfront property.

OWNER BENEFITS

Fairmont Heritage Place, Ghirardelli Square Owners enjoy an array of unparalleled personalized service and world-class amenities, including:

o    A dedicated Owner Services team
o    24-hour concierge and butler services
o    Pre-arrival grocery procurement
o    Maserati Quattroporte house car service
o    Housekeeping
o    Valet Service
o    In-residence dining
o    Private wine storage
o    Private storage of personal belongings
o    VIP access to Ghirardelli Square restaurants
o    Executive Board Room
o    Owner’s Lounge with billiards

As an Owner of Fairmont real estate, you may also exchange some of your time at your home in San Francisco to stay in homes at other exciting Fairmont Heritage Place locations or at participating Fairmont Hotels & Resorts around the world. Explore the opportunities of travel from beautiful beaches to breathtaking mountain scenery and relish the benefits of Fairmont Heritage Place Ownership.

LOCATION

Marked by its illustrious Golden Gates, famously steep hills, picturesque Victorian architecture, historic cable cars and of course, Ghirardelli Square, San Francisco is consistently the most visited city in the US.

Today, the San Francisco Bay Area remains as innovative as ever, having established itself as one of the world's most popular cities and Ghirardelli Square is the ideal location to access all the city has to offer. Whether you enjoy our world-renowned symphony, ballet and opera or spending the day in one of our museums, Ghirardelli Square is literally within a 10 minute drive of it all.  Our waterfront location also offers easy access to an array of wonderful destinations: the expansive vineyards in Wine Country, the dramatic cliffs of Big Sur, and the majestic mountains surrounding Lake Tahoe.

Fairmont Heritage Place, Ghirardelli Square offers one- two- and three-bedroom residences, ranging from 750 to 1, 900 square feet.  Prices for each 35-day deeded share start at $185,400.  The private residence club is open and fully operational.

In tough times, owners are selling their vacation homes in fractions, hoping to spread costs and tap equity.

April 3, 2009

A House Divided

By AMY GUNDERSON

WITH the economy in turmoil and the real estate boom a distant memory, some people are now looking to sell their vacation homes.Well, at least parts of them.Fractional ownership — a concept that gained popularity during the height of the real estate market as companies like Ritz-Carlton and Fairmont offered buyers an option that was a step up from timeshares — has trickled down to individual homeowners.Teaming up with a friend to buy a beach house or ski cabin is nothing new, of course, but these owners are trying to trim the cost of mortgage payments, insurance, taxes and maintenance, all while tapping into the equity in the house by selling off multiple stakes in their property.

Sellers can be motivated by several factors, said Paula Gold-Nocella, a broker and the founder of Global Quarters, which focuses on marketing and selling fractional properties. “They want to retain ownership and access the equity, but refinancing might not be an option,” she said. “Some would like debt relief. Often they don’t use the house as much as they thought, so why not get some cash back in their pocket?”         

  Read the rest of the article: click here

Copyright 2009 The New York Times Company

If you have any questions or would like to speak with me personally, please do not hesitate to call me.  We are look forward to hearing from you!

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