Stay Free in Paris This Summer (or Fall)… and Own a Fraction of a Pied-à-Terre!
I had this amazing conversation yesterday afternoon with Steve Navaro about Fractional Ownership. You may remember him — he’s the developer from “Paris Home Shares,” the Paris fractional ownership properties we’ve told you about in the past: Le Jardin Saint-Paul and Chez La Tour.
There are only a few key shares left of Le Jardin Saint-Paul, and they are key months! July, for example…is still available! So, is August and November. He wants to hold October for himself, but he might be convinced to let it go, under the right circumstances.
Now…you understand, that when you buy a share of one month, it’s not always the same month year after year! So, if you were to buy July, for example, you could STAY IN IT NOW, and then next year, have the apartment another month as part of the normal rotation.
Sorry, I’m getting ahead of myself. Let’s get back to why I’m writing you…
Steve’s a reasonable guy. He knows Parler Paris readers love to know about special insider deals. So, he wasn’t opposed when I said, “So, make us an offer we can’t refuse!”
And so he did. Steve made a special offering TO OUR READERS ONLY to complete the select group of 12 owners at Le Jardin Saint-Paul.
Words like “special offering” and “your readers only” are music to my ears. That’s when I started to listen more closely and I’m going to let you into some of our conversation — the warm-up before the real music began.
We discussed a recent New York Times article by Steven R. Weisman (May 7th) titled “Some Signs of an Upturn for the Dollar.” Steve’s own assessment was “…the New York Times article on the state of the dollar is well thought out. One can walk away with the feeling that maybe the dollar won’t turn into colored toilet paper in the next couple months. It also hints that while the dollar may be “stabilizing,” it is certainly not on solid ground, as the fundamentals are all wrong. The trend is downward. It is kind of like the guy who falls off the skyscraper, only to have his free fall stopped midway down because his pants get caught on someone’s flagpole outside their window. His situation is stabilized, but he isn’t out of danger.”
I love that image. And so true it is. We’re all watching it carefully and wondering how it’s going to affect our investments, our lives, our future. And that’s why there’s been so little movement from Americans in the last few months as they wait to see how the guy is going to land.
Meanwhile, property prices in Paris continue to steadily rise. By the end of 2007, the average appreciation for one year was 10.5%.
Is the pace sustainable? The last quarter of 2007 was an increase over the previous quarter…so we’ve seen no sign of serious deterioration.
Steve said, “I always believed that Paris, unlike most major cities, draws its buyers from around the globe. And again, like other European cities, the property supply is fixed, not growing. However, demand continues to increase, especially from the newly affluent in the Eastern European and Asian countries. So long as we do not see ridiculous unsustainable appreciation like 20%-30%-40% per year, I think that the long term trend, particularly for high demand quality housing, will continue to climb.”
I completely agree. While American buyers have waned, the Italians and Russians have flooded in with suitcases filled with cash buy properties in the chicest of districts!
He went on further to say,
“To wait for prices to drop, for the dollar to significantly improve, or for ‘just the right size and location’ could be very costly.”
The prices on properties such as Le Jardin Saint-Paul were based on last year’s prices, so unfortunately for buyers who wait, new properties will be based on current costs, which are at least 10% to 12% higher.
That’s another reason I was so anxious to hear about this special offering to our readers…what would make it even more attractive to ‘take the leap,’ but of course, with your eyes wide open.
Fractional Ownership has gotten a lot of press in the last two years. Steve and I were both recently interviewed by a journalist of the New York Times for an article soon to appear. One reason for the interest is because in a tough economic climate, it is more important than ever to invest wisely, and to diversify.
Fractional ownership of property in Paris provides a means for both. And while Steve has only a few competitors in Paris, he says he can out-perform all of them with more space for the price, better location, and longer share terms (a one-twelfth is one month, not four weeks). He’s already sold more fractional shares than any other developer (12 owners at Villa Monceau, 8 owners at Le Jardin Saint-Paul, and so far, 5 at Chez La Tour. From what we have learned, his annual dues are the lowest, partially because the owners self-manage, and do not pay the developer a management fee.
In addition, Steve is completely transparent. Everything is up front on their Web site for people to see…pictures, legal explanations, details about the apartment, estimated annual dues, etc.
No, they don’t permit rentals. He explained, “All of the other developers feel comfortable allowing strangers to live in the owner’s apartment in exchange for cash. For me, it is as much a philosophical stand as an economic one. If someone is okay with renters living in their home, whether it is their primary home or the personal vacation home, then they would probably be comfortable with this, but I am not.”
So, are you ready to hear the deal we made
for Parler Paris readers?
The annual dues for Le Jardin Saint-Paul are 1103€. At today’s rate of exchange, that’s $1700.
If you move quickly, before the article appears in the New York Times, which is sure to draw quite a bit of interest (and buyers, of course!), Steve will himself pay the annual dues for any Parler Paris reader who buys a share in Le Jardin Saint-Paul!
Remember: July is available! August is available! So is November and maybe October!
This means that in effect, your vacation in Paris this year will not only be in a luxurious two bedroom apartment in Le Marais that you own a part of, but will be absolutely FREE OF CHARGE, too!!!
How do you beat that?
Don’t delay. Have a look at Le Jardin Saint-Paul on our sites: /frenchproperty/consultation/sales/fractional/jardinstpaul.html and http://www.parishomeshares.net/jardinsaintpaul.html
It’s a two-bedroom apartment in the heart of Le Marais in a gorgeous 17th-century building with exposed original stonework and wood beams, high ceilings and fireplace…all surrounding a tranquil garden just steps from the popular rue des Rosiers.
It’s heaven. And a part of it could be yours, at a fraction of the price and this summer or fall, FREE!
To make your move today, send an email off to Steve Navaro by clicking on this link: [email protected] or be sure to put the word “FREESTAY” in the subject line of any email to [email protected] to be eligible for this offer.
I hope you’ll be one of the lucky owners!
A la prochaine…
Editor, Parler Paris
P.S. If you’ve been dreaming about this for a long time and just haven’t made your move waiting for the dollar to get stronger or prices to go down, then you’re going to be dreaming for a very long time with nothing to show for it. Now’s your chance to make your dream come true at a fraction of the cost, with no hassle, and a free vacation, to top it off. Email Steve now: mailto:[email protected]