Reunion Resort and Fractional Ownership
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There is an enormous amount of speculation in Reunion Resort about fractional ownership both in villas, condo’s and private homes. It is thought by the people or persons promoting this idea that, it would bring prices back up to where they once were.
Only the top 5% of people in the world could afford to live in a community like this. If I wanted to buy into a fractional ownership for a home, I wouldn’t have selected Central Florida. Although I am not a golfer, there is no doubt that the strengths of Reunion Resort are the 3 professional Golf courses, and the water park.. If fractional ownership is obtained what happens to those golf courses and the water park? Imagine how difficult it will be to get tee time to play or how crowded the water park would be. What type of clientele does this bring? Not the top 5% of affluent who could afford living here. It will change the dynamics of the community. That was once told to me by a Ginn employee who stopped a home sale of mine to a company who had private members using the facility. It is also being suggested that any one can purchase a Golf Membership to utilize the courses. So why did some of us pay 2 million dollars to buy homes to have the exclusive right to use the golf courses? I am against fractional ownership. The real problem with Reunion Resort is inflated prices for both lots, homes, condos etc. Prices will stabilize once the foreclosures and short sales are gone and than a true value for property will be set by end user’s not investors. A new company with fresh ideas and capital could also turn this around. The Ginn Company name should be removed from Reunion Resort, if there is any chance of recovery. If you are a owner in Reunion Resort please give your opinion on fractional ownership.
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