Mi Casa es Su Casa
Uttering the words “shared ownership” might have rattled nerves only a few years ago, but California-based Pacaso has emerged as a game-changer — an agent of calm through education and opportunity. Pacaso gives desirable vacation homes a luxury makeover before offering them to qualified owners who purchase shares of a specific home, from one-eighth (which equals 44 nights a year) to one-half. Pacaso manages the LLC formation, ensures a code of conduct, and allows owners to lock personal items on-site while remaining anonymous. (In some cases, a small group of friends owns shares of the same home.) Owners schedule stays through an app, and local home managers oversee the properties. The Pacaso marketplace even assists in the sale of your shares if you find you’re not good at sharing. Pacaso has thrived in the brisk real estate market. “One of our current listings in La Quinta is a brand-new $3.1 million home,” says communications manager Chrissy Bruchey. “But for one-eighth of that home, the price becomes $452,000.” Bruchey says Pacaso has fully sold the shares of several homes across the desert and continues to introduce inventory to keep up with demand.
One Stop Shop
The greatest hits of the 1970s, ’80s, and ’90s are on repeat at Thomas Troy Home in Rancho Mirage. “We collect midcentury, and we’re very into those decades,” says owner Thomas Troy Walsh. “More importantly, we’re really particular about what’s in the store.” A decade ago, Walsh broke ground doing new builds with his own construction company. Five years in, he expanded into renovations. “Which led us into interiors,” he says. “Now, we’re involved in every aspect,” including collecting. He and his husband filled five storage units before opening the shop. Surrounded by consignment stores, the showroom shines. Danish furniture, ’70s barware, and brass wall sculptures share the floor with pieces from Roche Bobois and Ligne Roset. Customers can tell there’s a strong eye behind such finds. “The people we meet, from Palm Springs to Indian Wells, come in asking about interiors.”