Condominium platform Pacaso offers shares of Sun Valley Home

The ski community of Sun Valley, Idaho is home to Pacaso’s latest luxury condominium home, with shares starting at $1.092 million.

The luxury ski community of Sun Valley, Idaho is the most recent market to welcome Pacaso, a company that sells stocks of high-end second homes.

The West Mountain resorts have long been respites for recreation seekers, and now shares of a four-bedroom, six-bathroom Thunder Spring townhouse are available for purchase as part of the model of joint ownership of Pacaso. Pacaso acquired homes in similar areas, such as Aspen and Vail in Colorado; Jackson Hole, Wyoming; and the Lake Tahoe region of California.

Coastal vacation destinations are also popular with Pacaso owners. He recently announced operations in Maui, Hawaii, and at the end of 2021, he acquired a house in the Florida Keys.

Pacaso operates by buying homes and then accumulating a team of local service providers as well as a listing agent. He sells shares of the LLC under which the house is held. Buyers can purchase up to half or as little as one-eighth of the property, which comes fully furnished with professional interior design services and an app called SmartStay for owners to coordinate and manage usage.

The company says it has nearly 700 owners in its network. Potential buyers can use Pacaso Access, a paid app that details listings and offers advance notice alerts for new stock.

The company encourages local agents to bring in luxury clients, offering 3% commissions and restricted stock units to Pacaso. At Sun Valley, she partnered with Katherine Rixon, owner of Rixon + Cronin, Keller Williams Sun Valley.

The Sun Valley property’s large windows and numerous outdoor decks offer views of Mount Bald and its multiple ski runs. The contemporary interior gives way to an established office space, a games room, an elevator and a two-car garage. Co-owners will have access to the community health club and spa, Zenergy.

The company is the product of co-founders Austin Allison and Spencer Rascoff, former Zillow executives.

Allison said in a statement that Sun Valley’s appeal to outdoor enthusiasts should be a major draw for the Thunder Spring home.

“From fly-fishing in the summer to scouring the slopes of the Bald and Dollar Mountains in the winter, Sun Valley offers a wide range of outdoor activities that have made it a sought-after location for second-home buyers,” said he declared.

He also noted that Pacaso’s model ensures that local mid-priced housing stock stays out of sight of aspiring luxury buyers.

“Pacaso’s condominium model helps preserve affordable housing because it allows second home buyers to focus more on luxury properties, leaving more affordable, mid-priced homes available for others within the hand. local workforce and community.”

Allison explained this notion at Connect Now’s March 2022 event, telling the audience that co-ownership of luxury inventory “consolidates demand away from the midpoint and shifts it towards the luxury level.”

“Each empty second home means another must be built to absorb the demand,” Allison said.

Idaho agents interested in working with Pacaso can learn more on the company’s website.

Email Craig Rowe